Intergtm

College Savings 529 Calculator

See if you're on track to cover college costs with 529 savings, accounting for education inflation and investment growth.

Inputs

Tuition + room & board; use current average for your target school type

%
%
%

Results update as you type, and the address bar keeps your numbers so the link you share reopens this exact calculation.

Funding gap (negative = on track)

$163,893

Savings gap — consider increasing contributions.

Detailed results
Estimated total future cost$263,991
Projected 529 balance at college$100,098
Monthly contribution needed to fully fund$947
Estimated annual state tax savings$180

What this result means

Funding gap (negative = on track): $163,893.

You have a $163,893 funding gap. To fully cover costs, you need approximately $947/month.

Year-by-Year 529 Growth vs Cost

Projected 529 balance and cumulative cost milestone each year.

Year-by-Year 529 Growth vs Cost. 14 rows, first 12 shown.
Child AgeYear529 BalanceEst. Cost (if college were today)
52,026$10,000$35,000
62,027$14,300$36,750
72,028$18,901$38,588
82,029$23,824$40,517
92,030$29,092$42,543
102,031$34,728$44,670
112,032$40,759$46,903
122,033$47,212$49,249
132,034$54,117$51,711
142,035$61,505$54,296
152,036$69,411$57,011
162,037$77,869$59,862

How this is calculated

Future cost = annual_cost × (1 + inflation)^years × college_years. Projected balance = FV(savings, return, years) + FV_annuity(contributions, monthly_rate, months).

A 529 plan is a tax-advantaged savings account for education expenses. Contributions grow tax-free, and withdrawals for qualified education expenses (tuition, room and board, books) are also tax-free. Many states offer a state income tax deduction for contributions.

Education inflation. College costs have historically risen at 4–6% per year, faster than general inflation. A school costing $35,000/year today could cost $57,000–$62,000/year in 13 years. Ignoring this understates your savings need.

529 investment options. Most plans offer age-based portfolios that automatically shift from stocks to bonds as college approaches, and individual fund options. Early contributions benefit from decades of growth — starting early matters enormously.

Qualified expenses. Tuition, fees, required books, supplies, room and board (up to the school's cost of attendance), and technology required for enrollment. Non-qualified withdrawals face income tax plus a 10% penalty on earnings.

Contribution limits. There are no annual contribution limits, but contributions above the annual gift tax exclusion ($18,000 per donor in 2025 — VERIFY) may trigger gift tax reporting. You can superfund a 529 by contributing up to 5 years of exclusions at once ($90,000).

Assumptions

  • Education inflation applied uniformly to annual cost for all years.
  • 529 contributions invested at a constant annual return throughout the accumulation period.
  • State tax savings estimated using state tax rate × annual contribution; actual deduction limits and eligibility vary by state.
  • Total cost includes tuition, room and board, and fees as entered — does not add scholarships or financial aid.
  • Qualified distribution rules follow current IRS guidelines; consult a tax advisor for edge cases.

Frequently asked questions

›Can I use 529 funds at any school?

Yes — you can use 529 funds at any accredited college or university, vocational and technical schools, and even some international schools that are accredited by US educational authorities. As of 2024 (SECURE 2.0), 529 funds also cover K-12 private school tuition up to $10,000 per year, and student loan repayment up to $10,000 lifetime (a one-time benefit). Additionally, you can use 529 funds for qualified education expenses like textbooks, supplies, computers, and student housing if you're living on campus or renting nearby.

›What if my child doesn't go to college?

You have three main options. First, change the beneficiary to another qualifying family member (sibling, cousin, even grandchild) without tax consequences — the funds stay in the account tax-free. Second, as of 2024, you can roll up to $35,000 lifetime from a 529 into the beneficiary's Roth IRA, which avoids the 10% penalty (though you'll pay ordinary income tax on the earnings). Third, withdraw non-qualified funds and accept a 10% penalty on earnings plus ordinary income tax on the earnings portion (contributions come out tax-free). Many families use the beneficiary-change option to keep wealth in the family.

›Does a 529 affect financial aid?

Yes, but parental-owned 529 accounts are treated favorably. Parental 529 assets are assessed at 5.64% of their value toward the Expected Family Contribution (EFC) on the FAFSA, meaning $50,000 in a parental 529 reduces aid by only $2,820. By comparison, student-owned assets are assessed at 20%. Grandparent-owned 529s don't appear on the FAFSA at all under current SECURE 2.0 rules, but any withdrawals in the prior year count as grandparent income, which can reduce aid by 50% of that income. For financial aid optimization, keeping the 529 in a parent's name is generally best.

›Which state's 529 plan should I use?

If your home state offers a state income tax deduction for contributions, use your state's plan — this is free money. For example, New York offers up to $10,000 deduction ($20,000 for married filing jointly). If your state has no deduction or a low one, compare the 529 plans offered by all 50 states and choose the one with the lowest fees and best-performing investment options. You can use any state's plan regardless of where you live or where your child goes to school. Total fees matter: some plans charge less than 0.3% annually, while others charge 1% or more.

›Can I contribute more than the annual gift exclusion?

Yes, but you need to understand the tax consequences. In 2025, each donor can gift up to $18,000/year to any person without using their lifetime exemption. Amounts above $18,000 count against your $13.61 million lifetime gift/estate tax exemption. For 529 accounts, there's also a special superfunding rule: you can contribute up to 5 years of exclusions ($90,000 per donor, $180,000 for a married couple) in a single year without tax consequences, but you must file a gift tax return (Form 709) and can't make other gifts to that beneficiary for 4 years.

Related calculators and guides