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Planning tools

College savings

What tuition will cost and what to save now.

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The student

$

Roughly $28,000 in-state public, $62,000 private, as illustrative figures.

Your saving

$
$

Projected total cost of 4 years starting in 13 years

$227,567
Projected savings by then$96,761
Shortfall$130,806
Monthly saving to fully fund it$856
First-year cost alone$52,798

Savings growth until enrolment

Increasing your monthly saving from $300 to $856 closes the gap. A 529 plan lets that growth come out tax-free for qualified education costs.

Why a 529

Contributions grow tax-deferred and withdrawals are federally tax-free when used for qualified education expenses. Many states add a deduction or credit for residents. Unused balances can be moved to another beneficiary, and a limited amount may be rolled to the beneficiary's Roth IRA under current rules.

Open a 529

These calculators are educational illustrations that use simplified assumptions. They ignore taxes, fees and inflation unless stated, assume a constant rate of return that real markets never deliver, and are not a projection of your actual results or a recommendation. Consult a qualified professional about your own situation.