529 / College Savings Calculator
Project your 529 balance against the real, inflation-adjusted cost of college.
Estimates only, not financial, tax, or legal advice. See our Terms and Privacy Policy.
College savings calculators often stop at "here's your projected balance when your child turns 18", which tells you how much you'll have, but not whether it's enough. This one goes a step further: it projects what college will actually cost by the time your child gets there, since college costs have historically outpaced general inflation, and simulates spending your savings down across all four years, so you can see exactly where a shortfall would show up.
It works for a 529 plan or any other dedicated college savings account, the math is the same either way.
How does this calculator work?
The first phase ("Saving") projects your current balance plus monthly contributions forward, compounding at your expected investment return, from your child's current age until they start college. The same compounding math is broken out on its own in the Compound Interest Calculator.
The second phase ("Spending") estimates what each year of college will actually cost by then — today's cost inflated forward by your assumed college-cost inflation rate, separately for each of the years since college costs keep rising while your child is enrolled — then simulates withdrawing that amount at the start of each year, with whatever's left earning a separate "Investment Return During College" rate you set, which is often lower than the accumulation-phase rate since many families shift to more conservative holdings as college approaches. Set it to 0% to assume no growth once withdrawals start.
If a year's cost exceeds what's left in the account, that year shows a shortfall, and the running total tells you exactly how underfunded (or fully funded) your plan is — not just at the finish line, but year by year through college itself. The Budget Calculator can help you find room to increase contributions before a shortfall shows up.
Worked example
A 5-year-old with $10,000 saved already, $300/month contributions, a 6% expected return, and a $25,000/year school today with 5% annual cost inflation.
- Years until college
- 13
- Projected balance at college start
- ≈$92,400
- Total projected 4-year cost
- ≈$203,200 (inflated)
- Result
- roughly 47% funded — a real shortfall shows up by year 2
How the numbers work
Thirteen years of $300/month plus growth gets the account to about $92,400 — a healthy-looking number on its own.
But because college costs keep inflating through all four years (not just up to enrollment), the first year alone costs about $47,100, and by the fourth year it's over $54,500 — the account can fully cover year one, partially cover year two, and is exhausted well before year four.
A savings plan that looks solid against today's tuition can still fall well short of the actual bill, because college costs keep rising throughout the years your child is enrolled, not just up to their first day — worth stress-testing against a real inflation assumption rather than today's sticker price. See how a 529 balance fits into the bigger picture with the Net Worth Calculator.
529 / College Savings Calculator glossary
- 529 Plan
- A tax-advantaged U.S. savings account specifically for education expenses — earnings grow tax-free and withdrawals are tax-free when used for qualified education costs.
- Accumulation Phase
- The years between now and when your child starts college, during which the account grows via contributions and investment returns.
- Drawdown Phase
- The years your child is actually in college, during which you withdraw from savings to cover each year's cost.
- College Cost Inflation
- The rate at which tuition, fees, and room and board rise each year — historically higher than general consumer inflation.
- Funded Percentage
- The share of your total projected college cost that your projected savings are expected to cover.
529 / College Savings Calculator FAQs
What return rate should I assume for a 529 plan?+
Most 529 plans offer age-based portfolios that start more aggressive and shift toward conservative investments as college approaches, so a single blended rate (often 5%–7%) is a reasonable simplification for a long-run projection, though your actual glide path will vary.
Why does the cost keep rising during the drawdown years?+
Tuition and fees are set year by year, not fixed at your child's enrollment date — a college that costs $25,000 today will likely cost more in year 4 of your child's enrollment than it did in year 1, simply because of ongoing inflation during those years too.
What if my projected balance shows a shortfall?+
Common options are increasing monthly contributions now (even small increases compound significantly over many years), planning for financial aid, scholarships, or student loans to fill the gap, or adjusting your assumptions (school choice, in-state vs. out-of-state) to bring the target cost down.
Does my 529 balance really keep growing once my child is in college?+
It can, if it stays invested — many families gradually shift a 529 to more conservative holdings as college approaches rather than pulling everything to cash on day one, so the remaining balance can keep earning a (usually lower) return through the drawdown years. Set the "Investment Return During College" field to whatever you'd realistically expect from those more conservative holdings, or to 0% if you'd rather plan for no growth once withdrawals begin.