Virginia 529 Plan Calculator
2026Calculate 529 college savings plan growth and tax benefits in Virginia. See VA state tax deduction availability, contribution limits, and projected education savings for 2026.
Total College Cost
$176,766.87
With 4% inflation
Projected Savings
$58,861.83
Funding
33%
Funding Gap
$117,905.04
Monthly Needed to Fully Fund
$750.77
529 Plan Projection
| Years Until College | 13 years |
| Total College Cost (with inflation) | $176,766.87 |
| Current Balance | $0.00 |
| Total Contributions | $39,000.00 |
| Investment Growth | + $19,861.83 |
| Projected Savings at College | $58,861.83 |
| Funding Gap | $117,905.04 |
| Monthly Contribution Needed | $750.77 |
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.
Virginia 529 Plan Overview
Virginia's top income tax rate of 5.75% applies to all income over $17,000, which means most working Virginians pay the top rate on the bulk of their income. The brackets have not been adjusted for inflation in decades.
Virginia provides its own standard deduction of $8,000 (single) or $16,000 (married), which is lower than the federal standard deduction. The state also provides a $930 personal exemption per person.
Virginia's minimum wage of $12.77/hr is set to increase incrementally. Northern Virginia localities near DC have significantly higher costs of living but share the same state minimum wage.
The state sales tax of 4.3% (5.3% in Northern Virginia and Hampton Roads) is supplemented by a 1% local tax, creating combined rates of 5.3-6.3%. Groceries were exempt from the sales tax starting 2023.
Virginia has no estate tax, inheritance tax, disability insurance, or paid family leave programs. The state does not tax Social Security benefits.
Virginia Tax & Education Facts (2026)
| State Income Tax | progressive (up to 5.75%) |
| 529 State Tax Deduction | Check state plan details |
| State Sales Tax | 0.043% |
| Avg. Property Tax Rate | 0.0082% |