College Savings Calculator

Target saving one-third of projected costs through a 529 plan. For an in-state public school (projected $230,000 in 18 years), save about $250/month starting at birth with 7% returns. Starting later requires significantly higher monthly contributions.

A 529 plan is a tax-advantaged savings account for education. Contributions grow tax-free and withdrawals for qualified education expenses are tax-free at the federal level. Most states also offer tax deductions for contributions.

You can change the beneficiary to another family member, use funds for K-12 tuition (up to $10,000/year), or under SECURE 2.0 Act, roll up to $35,000 into a Roth IRA. Non-qualified withdrawals pay tax plus 10% penalty on earnings only.

The College Savings Calculator is an online tool that lets you calculate 529 plan savings needed for college with growth projections and gap analysis. It is part of NexTool's collection of free tools designed to help you work faster and more efficiently.

Using the College Savings Calculator is simple: visit the tool page, enter your data or input into the provided fields, and get instant results. Follow the controls on the page. Some functions require sign-in or a paid plan; see Pricing for limits.

The Free plan includes 10 tool uses per day. Some features require an account or a paid plan. Check the controls on the tool page and Pricing for the applicable limits.

The College Savings Calculator returns results based on the inputs and the tool methodology. Check assumptions, units and source dates. Treat projections as estimates. For critical decisions, always consult a qualified professional.

Local calculations run in your browser. AI features, accounts, saved reports and external data requests use server services. Check the tool description and privacy policy for the relevant processing and storage.