How much should I save for college?

Project what college will cost by the time your kid enrolls, what your 529 grows to, and the monthly savings gap — with the state-tax benefit estimate.

Child's current age

Years until college

Current 529 balance ($)

Today's 4-year college cost ($)

College cost inflation (%)

529 annual return (%)

Monthly contribution ($)

State tax deduction rate (%)

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Projected college cost

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Projected 529 value at 18

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Monthly savings needed

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Monthly state-tax saving (if contributing)

Why is the projected cost so staggering?

College costs have historically risen 4-6%/year — much faster than general inflation. $120k today at 5% becomes roughly $226k in 13 years. That's why starting early matters more than the amount.

How is 'monthly needed' computed?

Solve for the monthly contribution that grows the current balance to the future cost: monthly = (cost − balance·(1+r/n)^nt) / (((1+r/n)^nt −1)/(r/n)). Contribution plus growth must close the gap.

What about the state tax benefit?

Many states deduct 529 contributions from state income tax. The tool estimates that monthly benefit = contribution × state rate. It's real money, but compare it to plan fees and fund choices before chasing it.

What if my state has no deduction?

Enter 0 for the state rate. The math still works — the federal benefit (tax-free growth and withdrawals for education) applies everywhere with no state input.