College Savings Calculator

Calculate monthly savings needed for college with tuition inflation. See 529 plan benefits.
yrs
College Type
$
%

Projected Total Cost

$169,696.19

Monthly Savings Needed

$630.15

Savings Gap

$148,366.91

College Savings Plan

Current Annual Cost$24,000.00
Projected Annual Cost (at enrollment)$42,424.05
Total Projected Cost$169,696.19
Years Until College13 years
Current Savings (grown)$21,329.28
Remaining Gap$148,366.91
Monthly Savings Needed$630.15
Or Lump Sum Today$69,560.20

Use the College Savings Calculator above to calculate your results. Enter your values and see instant results — all calculations run in your browser.

Disclaimer: This calculator is for informational purposes only and does not constitute tax, financial, or legal advice. Results are estimates based on the information you provide and current rates. Always consult a qualified tax professional or financial advisor for advice specific to your situation.

How It Works

Our College Savings Calculator helps you determine the monthly savings needed to cover future college costs, factoring in tuition inflation. Understanding this early allows you to plan effectively and take advantage of tax-advantaged savings vehicles like 529 plans. For a student starting college in 2026, the average in-state public university tuition and fees are projected to be around $11,500 per year, while private university costs could exceed $42,000 annually.

This calculator uses a future value formula for an ordinary annuity to determine the required monthly savings. We project future tuition costs by applying an average annual tuition inflation rate (typically 5-6%) to current costs. The formula considers your desired college type, the number of years until enrollment, and your expected investment return, then calculates the monthly contribution needed to reach that future goal.

When planning, remember that tuition is only one part of college expenses; don't forget about room, board, books, and other fees. Many people underestimate tuition inflation, which significantly impacts long-term savings goals. Also, be aware that 529 plan benefits, while substantial, can vary by state and are subject to investment risk.

Example: Saving for a Public University in 10 Years

  1. 1 Let's say your child is 8 years old and will attend college in 10 years (2034). You anticipate they will attend an in-state public university. The current average annual tuition and fees are approximately $11,500.
  2. 2 Assuming a 5% annual tuition inflation rate, the projected annual tuition in 2034 will be around $18,700. For a four-year degree, the total tuition would be approximately $74,800. If you aim to cover 100% of tuition and anticipate a 6% annual return on your 529 plan investments.
  3. 3 Our calculator estimates you would need to save approximately $450 per month to reach your goal. This amount ensures you're on track to cover the inflated tuition costs.
  4. 4 By consistently saving $450 per month in a 529 plan, you could accumulate the necessary funds for tuition, potentially benefiting from tax-free growth and withdrawals for qualified education expenses. This early planning helps mitigate the financial burden of college and allows for greater investment growth over time.

Source: FSA · Last updated: April 2026

Frequently Asked Questions

How much should I save per month for college?
For a child born in 2026, a 4-year in-state public university will cost approximately $200,000-$250,000 with tuition inflation. Starting at birth, saving $400-$550/month in a 529 plan (growing at 6-7%) can cover the full cost. Starting later requires significantly higher monthly amounts.
What is a 529 plan and is it worth it?
A 529 is a tax-advantaged college savings plan. Contributions grow tax-free, and withdrawals for qualified education expenses are tax-free. Many states also offer a state tax deduction on contributions. The tax-free growth alone can save $20,000-50,000+ over 18 years.
What if my child does not go to college?
Since 2024, unused 529 funds can be rolled into a Roth IRA for the beneficiary (up to $35,000 lifetime, subject to annual Roth IRA limits, after the 529 has been open 15+ years). You can also change the beneficiary to another family member or use funds for trade school or K-12 tuition (up to $10,000/year).

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