College Savings Calculator
See how much your 529 plan could grow by the time your child starts college - and whether you're on track to cover the cost.
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Start Investing FreeWhat Is a 529 Plan?
A 529 plan is a tax-advantaged investment account designed specifically for education expenses. Contributions grow tax-free, and withdrawals are tax-free when used for qualified expenses like tuition, room and board, books, and up to $10,000 per year in K-12 tuition. Many states also offer a tax deduction or credit for contributions made to their own plan.
Why College Costs Are Hard to Predict
College tuition has historically risen faster than general inflation, often 4-6% per year. That means the sticker price when your child enrolls could be dramatically higher than today's cost - which is why this calculator lets you adjust the cost inflation rate separately from your investment return.
What If You're Behind on Savings?
A projected shortfall doesn't mean college is out of reach. Financial aid, merit scholarships, starting at a community college or in-state public school, and federal student loans (Direct Loans have favorable terms) can all fill the gap. The goal of this calculator is to show you the gap early, while there's still time to close it.