College savings calculator

Monthly saving needed

Total$881.78
Projected total cost
$193,509
Your savings will grow to
$8,203
Gap to fund
$185,306
Years until they start
12 yrs
Monthly saving needed
$881.78

Costs are inflated to each year of study, so a four-year degree is priced year by year rather than as one lump sum.

Fund college without derailing your own retirement

A vetted fiduciary advisor can balance the 529, the timeline and your other goals.

Get matched with an advisor

Takes about a minute. We match you with vetted pros in your area.

The short answer

Enter your child's age, the cost of a year of study today and what you have already saved. The calculator inflates the cost to each year of study, grows your current savings forward, and turns the remaining gap into a monthly saving target.

Why the sticker price is not the target

Published cost is rarely what a family pays. Grants, scholarships, in-state pricing and work income all reduce it.

Order of operations

  • Retirement funding comes first: there are loans for college, none for retirement.

  • Clear high-rate consumer debt before opening a college account.

  • Use a tax-advantaged education account where one is available to you.

  • Shift the money to lower-risk holdings as the start date gets close.

The formula

Target = sum of cost x (1 + cost inflation)^year for each year of study. Monthly = (target - grown savings) x i / ((1 + i)^n - 1).

FAQ

What the retirement calculator can estimate

A retirement savings calculator projects how current savings and future contributions might grow under a chosen return assumption. It can also estimate a potential retirement balance or test how long a balance may support planned withdrawals. Because actual investment returns vary, compare several scenarios instead of treating one result as certain. Include workplace accounts such as a 401k, individual accounts, taxable investments, and any pension benefits that apply.

Effective retirement planning also considers inflation, taxes, health expenses, debt, and the timing of Social Security or pension income. Full retirement age is a Social Security term and is not necessarily the age when someone must stop working. An annuity may create a contractual income stream, but fees, guarantees, liquidity restrictions, and insurer claims-paying ability depend on the specific product. Review assumptions regularly as income and expenses change.

Common questions

People also search for