529 College Savings Calculator
Project your future college fund balance and see if your savings plan is on track to meet your goal.
This calculator gives a general growth projection for planning purposes. It does not account for state tax deductions, plan fees, or changes in contribution limits.
Savings Details
How This Is Calculated
Each year, your contributions are added monthly and the running balance grows at your chosen annual return (applied monthly on a compounding basis). If you set an annual contribution increase, your monthly contribution rises by that percentage each year, similar to increasing your savings rate as income grows.
529 Plan Tips
- Many states offer a tax deduction or credit for 529 contributions
- Set up automatic monthly contributions to stay consistent
- Shift to more conservative investments as college nears
- Unused funds can transfer to a sibling or roll into a Roth IRA
Frequently Asked Questions
A 529 plan is a US tax-advantaged savings account designed for education expenses. Contributions grow tax-free, and withdrawals are also tax-free when used for qualified education expenses such as tuition, room and board, books and certain K-12 costs, depending on the plan and state rules.
A common rule of thumb is to aim to cover around one-third of expected college costs through savings, one-third through current income and financial aid, and one-third through loans - but the right split depends heavily on your income, the school and your risk tolerance. This calculator helps you see whether your current savings plan is on track for a specific cost target.
There is no annual IRS contribution limit specific to 529 plans, but contributions are treated as gifts for tax purposes - in 2026 you can contribute up to $19,000 per year ($38,000 for married couples) per beneficiary without triggering gift tax reporting. Total lifetime contribution limits vary by state, often between $235,000 and $575,000 per beneficiary.
Most 529 plans use age-based portfolios that start more aggressive (higher expected return, more stock exposure) when the child is young and shift to conservative investments as college approaches. A long-term average of 5-7% annually is a reasonable planning assumption, though actual returns will vary year to year.
Unused funds can be transferred to another qualifying family member, used for the account owner's own qualified education, or (since 2024) up to $35,000 can be rolled into a Roth IRA for the beneficiary under certain conditions. Non-qualified withdrawals are subject to income tax plus a 10% penalty on earnings.