College Savings Calculator
Project your 529 or college savings growth and determine how much more you need to save each month to reach your goal.
Results
What is it?
The College Savings Calculator projects whether your current savings and monthly contributions will cover expected college costs. It uses compound growth to show your future balance and calculates how much extra you need to save each month to close any gap.
How to use
Enter your current college savings balance and monthly contribution amount. Set your expected annual investment return (6-8% is typical for diversified portfolios). Enter the number of years until your child starts college and the total estimated cost. The calculator shows projected savings, any shortfall, and additional monthly savings required.
Example scenario
You have $10,000 saved and contribute $500/month at a 7% annual return with 10 years to go. Your projected savings will be approximately $104,000. If college costs $120,000, you have a $16,000 shortfall and need roughly $94 more per month.
Pro tip
Use a 529 plan for tax-advantaged college savings. College costs typically inflate at 5-7% annually — use the future cost, not today's tuition. Front-loading contributions early maximizes compounding.