For informational purposes only. This tool provides estimates based on your inputs and may differ from actual outcomes. It does not constitute financial advice. Please consult a qualified professional before making financial decisions. Terms
For informational purposes only. This tool provides estimates based on your inputs and may differ from actual outcomes. It does not constitute financial advice. Please consult a qualified professional before making financial decisions. Terms
Plan for education costs with tax-advantaged 529 savings projections.
Presets update the annual cost below. Choose any to get started.
Tuition + fees + room and board
College costs have historically risen ~5% per year
529 plans typically return 5-8% depending on portfolio mix
Most states offer a tax deduction for 529 contributions. Enter your marginal rate for estimated tax savings.
Total College Cost
$
Savings at Enrollment
$
Savings Gap
$
Monthly to Close Gap
$
Annual Tax Savings
$
Years Until College
Watch your 529 balance grow during the saving years, then deplete as college expenses are paid.
Your 529 grows to $93,384 by age 18, then covers 4 years of college expenses.
Current Monthly
$300
Needed Monthly
$772
To fully cover projected costs, increase your monthly contribution from $300 to $772 (an extra $472/month).
Compare your projected 529 savings at enrollment against the total cost of college.
Annual Contribution
$3,600
State Tax Rate
5%
Annual Tax Savings
$
Total Contributions Over 13 Years
$46,800
Total Tax Savings
$
By contributing $300/month over 13 years, you could save approximately $2,340 in state income taxes. Tax deduction limits vary by state; check your state's 529 plan rules.
Compare the after-tax value of three savings vehicles for education funding over 13 years.
529 advantage: $7,828 more than a taxable account after taxes and state deductions.
Investment Vehicle Comparison
Add a 2nd and 3rd child with different ages. See the combined savings need and optimized contribution schedule.
Set above in main inputs
Enter at least one additional child's age above to see the combined analysis.
Multi-Child Planner
Starting in 2024, unused 529 funds can be rolled over into the beneficiary's Roth IRA, subject to these rules:
This provides a safety net if your child receives scholarships, chooses a less expensive school, or does not attend college. Opening a 529 early maximizes the 15-year clock.
Insights
You have a projected savings gap of $109,801. Consider increasing monthly contributions or exploring scholarship options.
Your inputs carry over automatically. Just pick a tool.
Free 529 plan calculator with college cost projections, tax benefit analysis, monthly contribution targets, and savings gap visualization. Start planning early.
Average annual (2024-2025): in-state public $11,260, out-of-state $23,630, private $42,162. Costs rise 5-6% annually. The calculator projects future costs based on your child age and school type.
A tax-advantaged investment account for education. Contributions grow tax-free, and withdrawals for qualified expenses (tuition, room, board, books) are tax-free. Many states offer additional deductions.
The calculator reverse-engineers the exact monthly contribution needed to fund a 4-year degree, accounting for cost inflation and investment growth based on your child current age.
Start aggressive (80% stocks at birth), gradually shift conservative (20% stocks by age 16). This maximizes growth early while protecting savings near enrollment.
Over 30 states offer deductions or credits, typically $2,000-$10,000 per beneficiary. Indiana offers a 20% credit up to $1,500. PRO compares all 50 states.
Change beneficiary to another family member, or roll up to $35,000 into a Roth IRA (after 15-year account age, subject to annual limits). No penalty for beneficiary changes.
529 grows tax-free with tax-free withdrawals for education. Taxable accounts pay 15-20% capital gains. Over 18 years, tax savings in a 529 can mean 15-25% more money.
