Plan for future education costs with a 529 or other education savings account. Project cost inflation, current savings growth, and the contributions needed to reach your goal.
529 Plan Inputs
Results Overview
Tip: increasing contributions by $141.35/mo reaches your goal.
Projected Balance Over Time
- Balance
Yearly Contributions vs Growth
- Contributions
- Growth
Key Insights
- Every $50/month increase typically accelerates progress meaningfully due to compound growth. Earlier increases have outsized impact.
- Annual bumps (e.g., +3%/yr) automate progress and keep pace with tuition inflation.
- State tax benefits act like a return boost when reinvested—check your state’s cap and optimize contributions to capture the full benefit.
This tool is for planning/education only and is not financial advice.
Methodology & Formulas
- Monthly return:
r_m = APR/12 - Monthly update:
B ← (B + contrib_m) · (1 + r_m) - Annual increase: end of each year
contrib ← contrib · (1 + inc) - State benefit: yearly
benefit = min(cap, yearlyContrib) · state%thenB ← B + benefit - Required monthly (target): solved via binary search on monthly contribution.
How to Use
- Enter years until college, current savings, monthly contribution, and expected APR.
- Optionally add a yearly contribution increase and your state tax benefit/cap.
- Set a target fund amount to see required monthly savings.
- Review charts for growth vs contributions and adjust parameters.
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