529 College Savings Calculator
Project the future value of a 529 plan.
Results update as you type.
This calculator is for illustrative purposes only. Actual rates, fees and terms vary by lender. Consult a qualified financial adviser before making borrowing decisions.
How it works
A 529 plan is a tax-advantaged account for education savings, and this calculator projects how much it could grow by the time college begins. You enter your current balance, your monthly contribution, the number of years until the funds are needed, and an expected annual return, and it returns the projected balance, your total contributions, and the investment growth on top of them. The projection uses standard compound interest: your existing balance grows over the full period, and each monthly contribution grows for the time remaining after it is deposited, summed as an annuity. The power of a 529 comes from compounding over many years combined with tax benefits: investments grow tax-free, and withdrawals for qualified education expenses — tuition, fees, room and board, books, and more — are also tax-free. Many states additionally offer a tax deduction or credit for contributions. Starting early makes a large difference, since more years mean more compounding, so even modest monthly amounts can grow substantially. The expected return should reflect your investment mix, which many 529 plans shift toward conservative holdings as college approaches. This is a projection, not a guarantee, since actual returns vary. Enter your balance, contribution, timeline, and return to project your college savings.
FV = balance × (1+i)^m + monthly × [((1+i)^m − 1) ÷ i], i = return/12
The projection compounds your current balance forward and adds the future value of monthly contributions as an annuity. The monthly rate is the annual return divided by twelve, and m is the number of months. Total contributions are your starting balance plus all deposits; growth is the projected balance minus that.
Source:Compound interest / future value of an annuity
We review all our tools from time to time to ensure accuracy.
Worked example
How to use this calculator
- 1
Enter your values
Enter current 529 balance, monthly contribution, years until college and expected annual return.
- 2
Adjust the options
Fine-tune any options to match your situation.
- 3
Read your result
Projected balance updates instantly as you type — no button to press.
Frequently asked questions
What is a 529 plan?
A 529 plan is a state-sponsored, tax-advantaged investment account designed for education savings. Contributions grow tax-free, and withdrawals for qualified education expenses like tuition, fees, books, and room and board are tax-free. Many states also offer a tax deduction or credit for contributions, making 529 plans one of the most efficient ways to save for college.
How much will my 529 grow?
Growth depends on your starting balance, contributions, time horizon, and investment return. This calculator compounds your balance and monthly deposits over your chosen years. For example, $10,000 plus $200 monthly for 10 years at a 6 percent return grows to around $51,000. Starting earlier and contributing more both meaningfully increase the final balance.
What are qualified 529 expenses?
Qualified expenses include college tuition and fees, room and board for students enrolled at least half-time, books, supplies, and required equipment, plus certain K-12 tuition and apprenticeship costs. Withdrawals for these are tax-free. Non-qualified withdrawals are taxed on the earnings portion and usually face a penalty, so it is best to use the funds for eligible education costs.
Should I adjust investments as college nears?
Many 529 plans offer age-based portfolios that automatically shift from growth-oriented investments toward more conservative holdings as the beneficiary approaches college age. This reduces the risk of a market drop right before the money is needed. If you choose your own investments, consider gradually lowering risk in the final years to protect the balance you have built.
What if my child doesn't go to college?
You have options. You can change the beneficiary to another family member, use funds for many types of eligible education including trade schools and apprenticeships, or, under recent rules, roll over a limited amount to a Roth IRA for the beneficiary. Non-qualified withdrawals are possible but the earnings are taxed and penalized, so alternatives are usually better.