A 529 plan is a tax-advantaged savings account designed for education expenses. Contributions grow tax-free, and withdrawals for qualified education expenses are not taxed. Many states offer tax deductions for contributions.

How much does college cost on average?

For 2025-26, average annual costs (tuition, fees, room & board) are approximately $28,000 for public in-state, $48,000 for public out-of-state, and $60,000 for private colleges. Costs increase 3-6% annually.

Can I use 529 funds for anything besides tuition?

Yes, 529 funds can be used for qualified education expenses including tuition, fees, books, supplies, room and board (for at least half-time students), computers, and up to $10,000 for K-12 tuition per year.

College Savings Calculator - 529 Plan & Education Costs

How to Use the College Savings Calculator

This free college savings calculator helps you quickly calculate monthly savings needed. Simply enter your values in the fields above and click "Calculate" to see your results instantly.

Understanding Your Results

After entering your information, the calculator will display your results including monthly savings needed, estimated total college cost, total contributions, investment growth. Each result is calculated using standard formulas used by financial professionals and experts in the field.

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