College Savings Calculator — Plan Your Child's Education Fund
Project future costs with inflation, determine required savings, and optimize your strategy. Start early—time and compound interest are your greatest allies.
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Start at birth—$200/mo vs $800/mo needed at age 10 $200/mo for 18 years at 7% → ~$85K from $43K contributions 529 plans: tax-free growth, state deductions in many states
Ready to run the numbers?
Why: College costs rise 5-6% annually—faster than general inflation. Planning early lets compound growth work for you. 529 plans offer tax-free growth and state deductions.
How: Future value formula: FV = PV(1+r)^n + PMT × ((1+r)^n−1)/r. Project costs with inflation. Solve for monthly payment needed to reach your goal.
Run the calculator when you are ready.
Sample Scenarios — Click to Load
Child & Timeline
Cost Information
Savings Information
You have time on your side. Increasing savings now will help significantly.
41% of goal
Calculation Breakdown
Time Analysis
Cost Projection
Savings Analysis
Results
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For educational purposes only — not financial advice. Consult a qualified advisor before making decisions.
💡 Money Facts
College cost inflation rate annually
— College Board
Typical long-term investment return
— Historical S&P
Tax-advantaged education savings
— IRS
1. Key Takeaways
- • Start as early as possible — time and compound interest are your greatest allies
- • College costs rise 5-6% annually — faster than inflation
- • 529 plans offer tax-free growth and state deductions
- • FV = PV(1+r)^n + PMT × ((1+r)^n−1)/r
- • Automate contributions — set up monthly transfers
- • Increase with raises — boost by 50% of salary increase
2. Did You Know?
Time Value
Birth vs age 10: $200/mo vs $800/mo needed
Compound Growth
$200/mo 18y at 7% → $85K from $43K
529 Plans
Tax-free growth, state deductions
5.64%
Parent 529 assessed on FAFSA
Coverdell
$2K/yr limit, K-12 eligible
Roth IRA
Contributions penalty-free for education
3. How It Works
FV = PV(1+r)^n + PMT × ((1+r)^n−1)/r. Project costs: Cost × (1+inflation)^years. Required monthly: solve for PMT to reach goal. College inflates 5-6% annually.
Inputs
Child age, college start, years, school type, tuition, room/board, inflation, savings, return, aid, % to cover
Outputs
Total projected cost, required savings, projected savings, monthly needed, gap
4. Expert Tips
Start early
Best time is birth to age 5
Automate
Monthly transfers ensure consistency
529 first
Tax benefits are significant
Age-based
Shift to bonds as college nears
5. Comparison Table
| Public In-State | Private | Community |
|---|---|---|
| ~$91K 4yr | ~$220K 4yr | ~$48K 4yr |
6. FAQ
$200-300 at birth for public; $400-600 for private.
Max 401k match, then college, then more retirement.
Yes — tax-free growth, state deductions, Roth rollover option.
Parent 529 assessed at 5.64%. Don't skip saving.
Withdraw penalty-free up to amount; rest for grad/siblings.
7. Quick Stats
5-6%
College inflation
7%
Typical return
18
Years to save
529
Tax-advantaged
8. Sources
9. Disclaimer
⚠️ Warning: Estimates only. College costs vary by institution. Not financial advice.
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