Balance projection · college cost inflation · funding gap · state tax savings · client-side

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529 College Savings Calculator

See if your 529 plan will cover college costs. Get an inflation-adjusted 4-year cost estimate, funding gap, monthly contribution needed, and state tax savings.

GPA Scale4.0(standard US)

Avg Student Debt$37,700(Class of 2023)

Compound FrequencyMonthly(most savings accts)

Child & College

Child's Current Age

College Type

College Inflation Rate (%)

529 Account

Current 529 Balance

Annual Contribution

Expected Annual Return (%)

State Tax Rate (%)

State Deduction Cap

Projected Balance

$91,785

at age 18

Total College Cost

$196,565

4-yr inflation-adj

Shortfall

$104,780

additional needed

Monthly Needed

$697.68

to fully fund

Funding Progress47%

$0Target: $196,565

How Your Balance Grows

$8,000

Starting balance

$46,800

Your contributions

$36,985

Investment growth

Year	Age	Contribution	Growth	Balance
2027	6	$3,600	$560	$12,160
2028	7	$3,600	$851	$16,611
2029	8	$3,600	$1,163	$21,374
2030	9	$3,600	$1,496	$26,470
2031	10	$3,600	$1,853	$31,923
2032	11	$3,600	$2,235	$37,758
2033	12	$3,600	$2,643	$44,001
2034	13	$3,600	$3,080	$50,681
2035	14	$3,600	$3,548	$57,828
2036	15	$3,600	$4,048	$65,476
2037	16	$3,600	$4,583	$73,660
2038	17	$3,600	$5,156	$82,416
2039	18	$3,600	$5,769	$91,785

State Tax Deduction Benefit

Contributing up to $3,000/yr may qualify for a state income tax deduction. At a 5% state rate, that's an estimated $1,950 in state tax savings over 13 years.

529 deduction rules vary by state — verify your state's specific rules at your state's 529 plan website.

Close the Gap

Adding $397.68/mo more to your 529 would fully fund Public (In-State) at the current projections. You have 13 years — compounding is on your side.

Years Until College

18 − Child's Current Age

= 13 years

Child is 5 now → starts college at 18

Future College Cost (Year 1)

Current Annual Cost × (1 + Inflation)^Years

= $46,289

$27,800/yr × (1 + 4%)^13

Total 4-Year Cost (Inflation-Adjusted)

Sum of 4 annual costs (each year more expensive)

= $196,565

Years 1–4 at 4%/yr college inflation

Projected 529 Balance

FV = PV×(1+r)^n + PMT×[(1+r)^n−1]/r

= $91,785

$8,000 balance + $3,600/yr @ 7% for 13 yrs

Savings Gap

Projected Balance − Total 4-Year Cost

= $104,780 shortfall

$91,785 − $196,565

Monthly Contribution Needed to Fully Fund

Solve PMT from FV annuity formula

= $697.68/mo

Additional $397.68/mo above current $300.00/mo

Estimated State Tax Savings

Deductible Amount × State Tax Rate × Years

= $1,950

$3,000/yr deductible × 5% × 13 yrs

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