How much should I save for my child's college?

It depends on your child's age, the type of school, and your expected investment return. This calculator projects the future cost using 5% annual tuition inflation and shows the monthly contribution needed to fully fund the years of college you choose.

A 529 plan is a tax-advantaged investment account for education. Earnings grow free of federal tax and withdrawals for qualified education expenses such as tuition, room and board, and books are also tax-free. Many states offer a deduction for contributions.

How much does college cost in the future?

This calculator starts from average annual costs by school type, ranging from about $12,000 for community college to $58,000 for private universities, and inflates them by 5% per year until your child starts college to estimate the total projected cost.

Can unused 529 funds be moved to a Roth IRA?

Yes. Under a rule that took effect in 2024, up to $35,000 of unused 529 funds can be rolled into the beneficiary's Roth IRA, subject to conditions. Unused funds can also be transferred to a sibling.

College Savings Calculator — How Much Do You Need to Save?

Calculate how much to save for your child's college education

Quick Answer

Average annual college cost in 2025 is $38,000 at private universities and $11,000 at in-state public universities. To fully fund 4 years at a private university starting from a newborn requires saving approximately $650 per month for 18 years at 7% return. 529 plan contributions grow tax-free when used for qualified education expenses.

College savings calculators project how much a 529 plan or other college savings account will be worth at the time of enrollment based on monthly contributions and investment returns. They account for estimated college cost inflation of 4-5% per year to show whether your savings rate is on track to meet actual future college costs.

Child's Current Age: 5Expected College Start AgeCurrent 529 Savings ($)Monthly Contribution ($)Expected Annual Return (%)Years of CollegeCollege Type

Projected total cost by 2038 (with 5% annual tuition inflation)

$219,439

⚠️ Gap

$47,089

Projected savings

Gap: $172,350

vs cost

To fully fund 4 years of college, save:

$932/month

🏦 529 Plan Benefits

✅ Tax-free growth — investments grow without federal taxes
✅ Tax-free withdrawals for qualified education expenses
✅ State tax deduction in many states for contributions
✅ Transfer to siblings if one child doesn't need it
✅ Roth IRA rollover — up to $35,000 unused funds can roll to Roth IRA (new 2024 rule)
✅ Covers tuition, room & board, books, and other qualified expenses

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Educational estimate only. Tuition projections are estimates using 5% annual inflation. Actual costs vary by institution. Consult a financial advisor. 529 rules vary by state.