529 Plan Calculator — Project Your Education Savings
Calculate how much your 529 college savings plan could grow. Estimate future college costs and how much to save monthly to fund your child education in 2026.
The 529 plan is the most tax-advantaged way to save for education expenses in the United States. Contributions grow tax-free and withdrawals for qualified education expenses including tuition room and board books and computers are completely tax-free at the federal level. Many states also offer state income tax deductions for 529 contributions. With the average cost of a 4-year private university now exceeding $200000 starting a 529 early can make the difference between a debt-free graduation and six figures in student loans.
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Key Information
| Parameter | Details |
|---|---|
| Average 4yr Public College Cost | $110000 total (in-state) |
| Average 4yr Private College Cost | $220000 total |
| Annual Contribution Limit | No federal limit (gift tax applies above $18000) |
| Tax Benefit | Tax-free growth and withdrawals |
Calculate your education savings
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Use Calculator NowFrequently Asked Questions
How much should I put in a 529 plan?
Aim to save at least one-third of projected college costs in a 529 plan covering the rest through financial aid scholarships and current income. For a child born today who will attend a public university in 18 years projected costs could be $180000-250000. Saving $300-500 per month from birth should cover a significant portion. The earlier you start the more compound growth helps.
What happens to unused 529 money?
Unused 529 funds can be transferred to another family member for their education including siblings cousins or even parents. Since 2024 you can also roll over up to $35000 of unused 529 funds into a Roth IRA for the beneficiary subject to annual Roth contribution limits and a 15 year account age requirement. Non-qualified withdrawals incur income tax plus a 10% penalty on earnings only.
Can I use 529 for K-12 or trade schools?
Yes since 2018 you can use up to $10000 per year from a 529 plan for K-12 tuition at private elementary and high schools. 529 funds also cover accredited trade schools vocational programs apprenticeships and even student loan repayments up to $10000 lifetime. This expanded eligibility makes 529 plans useful far beyond traditional four-year colleges.
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Last updated: 24 March 2026