Estimate how your child’s 529 education savings could grow based on your current balance, regular contributions, expected investment return and the number of years remaining until college.
529 College Savings Calculator
See how monthly contributions could grow for your child’s education, plus check your state’s matching-grant program.
Check your state for matching grant money
Reference only — about 15 states run matching-grant programs with their own income and age limits; others may offer a state tax deduction instead. Confirm at your state’s 529 plan page.
US 529 plans do not include a federal matching grant — growth comes from tax-advantaged investment returns only. Some states offer their own small tax deductions or credits.
This calculator provides estimates for general informational purposes only. Actual investment returns, government benefits, taxes, fees, education costs and account rules may differ. The results are not guaranteed and should not be considered financial, tax or investment advice.
How the 529 Calculator Works
The calculator projects how your 529 college savings account could grow by combining your current balance with the contributions you plan to make, then compounding everything at your expected rate of return.
- Current account balance — what’s already saved in the 529 today.
- Initial deposit — a one-time contribution you’re making now, on top of the current balance.
- Monthly contribution — what you plan to add on an ongoing basis.
- Expected annual return — the investment growth rate you want to assume, compounded monthly.
- Child’s current age and expected college start age — sets the savings timeline.
The result is an estimate, not a guarantee. Actual returns, fees, and how much college eventually costs will all differ from any projection.
How Much Should You Save in a 529 Plan?
The right savings target depends on your child’s age, the type of school you’re planning for, how much financial aid you expect, and what your household can realistically set aside. A few illustrative starting points, saving from birth:
| Monthly contribution | What it’s aiming for |
|---|---|
| ~$100/month | A supplement toward community college or partial in-state tuition |
| ~$250/month | A meaningful dent in in-state public tuition and costs |
| ~$500+/month | Building toward a larger share of private or out-of-state costs |
These are illustrations, not recommendations. Use the calculator above with your own numbers, since college costs and family budgets vary widely.
Understanding 529 Tax Benefits
529 plans offer federal tax advantages: investment growth isn’t taxed, and qualified withdrawals for eligible education expenses come out federally tax-free. There’s no federal deduction or credit for contributions, unlike a matching grant.
What varies is the state level. Many states offer their own tax deduction or credit for contributions, and a handful run separate matching grant programs for lower- and middle-income families — but rules, deduction amounts, and eligibility differ by state and change over time. Review your specific state’s 529 plan rules, or speak with a qualified tax professional, before assuming any state-level benefit applies to you.
529 Savings Growth Example
Illustration: Say you start with a $1,000 balance, contribute $250/month from your child’s birth, and assume a 6% annual return. Over 18 years, your own contributions (plus the starting balance) total roughly $55,000. With compounding growth layered on top, the account could reach a meaningfully higher total — the exact number depends on the assumptions you enter above.
This is an illustration only. Use the calculator with your own numbers to see a projection based on your actual plan.
529 Calculator FAQs
How much should I contribute to a 529 each month?
It depends on your child’s age, expected school costs, and your budget. Many families start with whatever fits comfortably and increase contributions over time — even small, consistent amounts benefit from years of compounding.
What investment return should I use?
Many 529 savers plan around a 5–7% average annual return for age-based or growth-oriented portfolios, but the right assumption depends on how your specific plan is invested and how close you are to needing the funds.
Can a 529 account lose money?
Yes. Most 529 plans invest in the market, typically shifting to more conservative holdings as college approaches, but balances can still go down as well as up.
What expenses can 529 funds cover?
Qualified expenses generally include tuition, fees, room and board, books, and required equipment at eligible institutions, plus some K-12 tuition and student loan repayment up to federal limits. Confirm specifics with your plan provider, since rules can be detailed.
What happens to unused 529 funds?
Options typically include changing the beneficiary to another family member, using the funds for the account owner’s own qualifying education, or rolling a limited amount into a Roth IRA under current federal rules. Non-qualified withdrawals are usually subject to tax and a penalty on the earnings portion.
Can the beneficiary be changed?
In most plans, yes — you can typically change the beneficiary to another eligible family member without tax consequences. Check your specific plan’s rules for details.
Are the calculator results guaranteed?
No. This calculator provides estimates for general informational purposes only and should not be treated as financial or tax advice.