529 Calculator
Project your 529 college savings plan balance and see if you're on track to cover future tuition costs. Enter your child's age, school type, current savings, and monthly contribution to get a projected balance at college start, total estimated college cost, and your savings gap or surplus. Includes 2026 college cost benchmarks and a year-by-year schedule.
529 Plan Calculator · 2026
Savings projection · college cost forecast · surplus or gap · year-by-year schedule
Enter your child's age, school type, and monthly contribution to project your 529 savings.
What Is a 529 College Savings Calculator?
A 529 calculator projects how your college savings account will grow over time and compares that balance to the projected cost of college when your child reaches enrollment age. It accounts for two compounding forces: your 529 plan growing tax-free at your expected investment return, and college costs rising each year at the historical rate of tuition inflation. The gap or surplus between the two gives you a clear, actionable savings target.
Enter your child's current age and the calculator handles the rest: it compounds your existing balance forward, adds your monthly contributions, applies college cost inflation, and shows whether you're on track, and by exactly how much if you're behind. The year-by-year schedule shows the trajectory so you can see when to increase contributions if needed.
2026 College Cost Benchmarks
The calculator uses these 2026 all-in cost figures (tuition, fees, room and board combined) as starting points. College costs have grown at 4–5.5% annually over the past 20 years, outpacing general inflation by 2–3x:
| School Type | 2026 Annual Cost | 4-Year Total | Projected 18-yr Cost (5.5% inflation) |
|---|---|---|---|
| Public 4-yr, In-State | $25,290 | ~$101,160 | ~$62,100/yr at 2044 |
| Public 4-yr, Out-of-State | $43,350 | ~$173,400 | ~$106,500/yr at 2044 |
| Private 4-yr | $58,600 | ~$234,400 | ~$143,900/yr at 2044 |
| Community College 2-yr | $12,200 | ~$24,400 | ~$30,000/yr at 2044 |
* Sources: College Board Annual Survey of Colleges 2025–26; NCES Digest of Education Statistics. Includes tuition, mandatory fees, and room and board for full-time students. Projection uses 5.5% annual inflation.
How to Use This 529 Plan Calculator
How Much Should You Save for College by Age?
A common college savings benchmark: aim to have saved one-third of projected college costs by the time your child starts college, with the remaining two-thirds to come from financial aid, scholarships, student earnings, and student loans. A more aggressive target is to cover 50–75% through savings. Here are rough monthly contribution benchmarks assuming a 7% return and 5.5% tuition inflation:
| Starting Age | Monthly Needed (Public In-State) | Monthly Needed (Private 4-yr) | Total Contributions |
|---|---|---|---|
| At birth (age 0) | ~$260/mo | ~$610/mo | $56,160 / $131,760 |
| Age 3 | ~$310/mo | ~$730/mo | $55,800 / $131,400 |
| Age 5 | ~$370/mo | ~$870/mo | $48,510 / $114,114 |
| Age 8 | ~$510/mo | ~$1,200/mo | $61,200 / $144,000 |
| Age 10 | ~$680/mo | ~$1,600/mo | $54,400 / $128,000 |
| Age 13 | ~$1,200/mo | ~$2,800/mo | $57,600 / $134,400 |
* Estimates for covering 100% of 4-year cost at 2026 prices inflated at 5.5% annually, 7% investment return. Starting amounts assume $0 existing balance. Financial aid, scholarships, and loans can reduce the actual amount needed.
529 Plan Tax Benefits
Federal Tax-Free Growth
All investment gains inside a 529 plan are exempt from federal tax. When used for qualified education expenses (tuition, fees, room and board if enrolled at least half-time, required textbooks, computers, and software), withdrawals are also completely tax-free federally. A $100,000 gain in a taxable brokerage account would trigger $15,000 to $23,800 in federal capital gains tax; inside a 529, that gain costs nothing.
State Tax Deductions and Credits
More than 30 states offer a state income tax deduction or credit for 529 contributions. Some notable provisions as of 2026:
- Indiana: 20% tax credit, up to $1,500 per year (one of the most generous available)
- Illinois: Deduct up to $10,000/year single or $20,000 joint
- New York: Deduct up to $5,000/year single or $10,000 joint
- Colorado, South Carolina, New Mexico, West Virginia: Full deduction with no annual cap
- California, Kentucky, New Jersey, North Carolina: No state deduction (but 529 growth remains tax-free federally)
Using your own state's 529 plan is optional, though many states limit the deduction to contributions made to their own plan. Compare your state's plan fees against a lower-cost national plan before committing to a state plan solely for the deduction.
Gift Tax Rules and Superfunding
529 contributions count as gifts to the beneficiary for federal gift tax purposes. The 2026 annual gift tax exclusion is $19,000 per person per beneficiary ($38,000 for married couples filing jointly). Contributions above this threshold count against your lifetime estate and gift tax exemption.
Under the 5-year election (superfunding), you can contribute up to $95,000 in a single year ($190,000 for married couples) to a 529 account and spread it across five years for gift tax purposes, no other gifts to that beneficiary during the 5-year period. This strategy can be particularly effective for grandparents looking to reduce taxable estates while funding college savings.