529 college savings calculator
Today's tuition sticker price isn't what you'll actually pay — college costs have historically risen faster than general inflation. See what your 529 plan is projected to grow to by the time college starts, and how that stacks up against the real, inflated cost rather than today's number.
Projected 529 balance at college start
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Total investment growth
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Estimated total college cost (inflated)
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Projected surplus / shortfall
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Last updated: September 2026 · Verified by Hugo Cardozo.
Why today's tuition number is the wrong number to plan around
College costs have historically risen faster than general consumer inflation, commonly cited in the 4-6% annual range depending on the type of school. Planning against today's sticker price — instead of a reasonably inflated version of it — is one of the most common ways 529 savings plans end up falling short, even when the account itself is growing exactly as expected.
How the projection works
The current 529 balance grows with compound returns, and each month's new contribution adds to that growth on top. Separately, today's annual college cost is projected forward using an assumed college-specific inflation rate (not general inflation) to estimate what four (or however many) years of college will actually cost once your child enrolls — that inflated total is the real target, not today's number.
Worked example
A 5-year-old with an $8,000 current 529 balance and a $300/month contribution, growing at 6% annually, projects to about $88,052 by age 18 (13 years), including about $33,252 in investment growth on top of contributions. Meanwhile, $15,000/year in today's college costs, inflating at 5% annually over those same 13 years for 4 years of college, comes out to roughly $113,139 in total cost at enrollment — leaving a projected shortfall of about $25,087 that either needs a higher contribution, more time, or a plan to cover the gap with other funding.
What to do with a projected shortfall
A gap identified years in advance is far easier to close than one discovered at enrollment — increasing the monthly contribution even modestly, especially early, closes more of the gap than the same increase started later, because of how much time is left for that extra money to compound. A shortfall also doesn't have to be closed entirely by savings alone; financial aid, scholarships, work-study, and student loans commonly fill part of the gap for most families.
Why the assumptions matter more than usual here
Both the investment return and the college cost inflation rate are long-run estimates over many years, so small changes in either assumption swing the projected gap significantly. Running this calculator with a range of more conservative and more optimistic assumptions — rather than a single number — gives a more realistic sense of the range of outcomes to plan around.
Frequently asked questions
What happens to unused 529 funds if my child doesn't go to college?
529 funds can be transferred to another eligible family member, used for a range of qualified education expenses beyond traditional four-year college (including some apprenticeship programs and K-12 tuition up to certain limits), or, under current rules, a limited amount can be rolled into a Roth IRA for the beneficiary under specific conditions — non-qualified withdrawals for other purposes generally owe income tax plus a 10% penalty on the earnings portion.
Should I use in-state public college costs or private college costs for this calculator?
Use whatever is the realistic target for your family — in-state public tuition is typically far lower than private college costs, and the "right" number depends entirely on where your child is likely to attend. Many families run the calculator twice, once for each scenario, to see the range of outcomes.
Does a 529 plan affect financial aid eligibility?
A parent-owned 529 plan is generally counted as a parental asset on the FAFSA, which affects aid eligibility much less than an asset owned directly by the student — this is one reason 529 plans are commonly recommended over student-owned savings accounts, though rules can vary and are worth confirming against current FAFSA guidance.
📘 Related guide
Read the full guide: "529 Plans: Why the Sticker Price Isn't What You'll Actually Pay".
529 Plans: Why the Sticker Price Isn't What You'll Actually Pay