College Savings Calculator - Contribution and Gap
Project future college costs, savings growth, monthly contributions and a funding gap using explicit education-inflation and return assumptions.
For a newborn in 2026, the projected 4-year total at 4% education inflation is about $257,000 for in-state public ($29,910 current annual total) and $538,000 for private ($62,570 current). For a 5-year-old, those same 4-year totals are $211,000 public and $442,000 private with 5 fewer years of inflation. According to College Board Trends in College Pricing 2025-26, published tuition and fees were $11,950 for public in-state and $45,000 for private, with total cost $29,910 and $62,570 including room and board. Enter your child age and costs below for your exact target.
College Savings Calculator
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How to Use the College Savings Calculator
Enter What You Have Saved Today
Enter current 529 or savings balance, for example $20,000. This amount compounds at the return you set until college starts.
Set Ages and Current Annual Cost
Enter child current age (e.g., 5), college start age (18), and today annual cost such as $29,910 public total from College Board 2025-26.
Choose College Inflation and Expected Return
Enter education inflation (4% is typical) and expected 529 return (6% for a balanced mix). The gap widens quickly if inflation exceeds return.
Add Monthly Contribution
Enter the monthly amount you will add, such as $500. The tool solves the annuity needed to close the remaining gap at your return.
Review Future Cost, Projected Savings and Monthly Gap
Check 4-year inflated total, growth of current savings, required monthly for full funding, and the shortfall table.
Projected 4-Year College Costs and Monthly Needed at 6% Return (2026)
| Child age now | Years to college | 4-yr public total at 4% | 4-yr private total at 4% | Monthly to fully fund public (from $0) |
|---|---|---|---|---|
| Newborn (0) | 18 years | $257,000 | $538,000 | $599/mo |
| Age 2 | 16 years | $237,000 | $496,000 | $735/mo |
| Age 5 | 13 years | $211,000 | $442,000 | $760/mo |
| Age 10 | 8 years | $174,000 | $364,000 | $1,360/mo |
| Age 14 | 4 years | $149,000 | $311,000 | $2,770/mo |
| Age 16 | 2 years | $137,000 | $287,000 | $5,390/mo |
| Age 8 (10-yr) | 10 years | $190,000 | $398,000 | $1,150/mo |
How Much Will College Cost When My Child Enrolls?
Two numbers matter: today annual cost and the years until the first fall semester. College costs have risen about 2% to 4% annually in recent College Board reports, with published tuition and fees for 2025-26 at $11,950 for public in-state and $45,000 for private, and total cost including room and board at $29,910 and $62,570 (Source: College Board, Trends in College Pricing 2025-26, collegeboard.org). At 4% inflation, the 4-year total for a newborn becomes $257,000 public and $538,000 private; for a 5-year-old those totals are $211,000 and $442,000, because 5 fewer years of compounding saves about $46,000 public and $96,000 private.
The calculator inflates each college year separately rather than multiplying one year by four, which captures that the senior year is three years more expensive than the freshman year. Use the current total cost from a specific college net-price calculator when you have a target school, otherwise the $29,910 public and $62,570 private benchmarks are consistent planning baselines. Track the inflated total rather than only the monthly amount, so a later decision to attend a 2-year transfer or community college shows the dollar change clearly. Compare tuition-only versus total-cost planning with the Savings Goal Calculator.
College Savings vs 529 vs Roth IRA: Which Funding Tool Is Better?
A 529 plan offers tax-free growth for qualified education expenses, high contribution limits and the ability to change beneficiaries, but the money is earmarked for education. A Roth IRA offers tax-free growth for retirement with penalty-free withdrawal of contributions for college, yet annual limits are $7,000 in 2026 ($8,000 if 50+) and the account is first a retirement account (Source: IRS Publication 590-A, irs.gov).
| Feature | 529 Plan | Roth IRA | Taxable brokerage |
|---|---|---|---|
| Tax on qualified college withdrawal | 0% federal | Earnings taxed + 10% penalty unless exception | Capital gains due |
| Annual contribution limit | $19,000 gift exclusion per donor; superfunding 5 years | $7,000 ($8,000 if 50+) | Unlimited |
| Investment flexibility | Limited to plan funds | Broad | Broad |
| Financial aid treatment | Parental asset ~5.64% | Retirement asset not counted; withdrawals count as income | Counted |
For most families, fund the 529 for the expected education gap first, keep retirement on track separately, and use taxable only after both. The Compound Interest Calculator shows how the same $500 monthly at 6% becomes $42,658 from $20,000 over 13 years versus $103,000 contributed over that period without growth.
How Much Do I Need to Save Each Month to Cover the Gap?
The gap is future 4-year total minus growth of current savings, solved as a monthly annuity at the expected return. For a 5-year-old with $20,000 already saved, the public gap at 4% inflation is about $169,000 future cost ($211,000 total - $42,658 grown current), which requires about $695 per month at 6% for 13 years to close. Contributing $500 monthly leaves about $45,000 short of full funding, requiring a combination of aid, cheaper school or later contributions (Source: standard annuity formula).
Starting earlier cuts the monthly dramatically: a newborn needs $599 per month from $0 to fully fund $257,000 public at 6% over 18 years, while a 10-year-old needs $1,360 per month from $0 for $174,000 over 8 years, more than double the monthly for a smaller total because compounding time is cut by 10 years. Every $10,000 extra saved today reduces the required monthly by about $35 for a 13-year horizon at 6%. Use the High-Yield Savings Calculator to compare a safe 4.25% cash path versus a 6% investment path for the same monthly amount.
How Does College Inflation Change My Target?
College inflation at 2% versus 6% creates a 40% gap in the 18-year outcome. For a current $29,910 public annual total, the 4-year total for a newborn is $182,000 at 2% inflation, $257,000 at 4% and $365,000 at 6%, a $183,000 spread from the same starting cost (Source: College Board 2025-26 current costs inflated at alternative rates). Private at $62,570 annual goes from $380,000 at 2% to $770,000 at 6% for a newborn, because the larger base compounds faster.
Education inflation has outpaced general CPI (which was about 2.9% in 2026 per BLS) in many years but has slowed to 2% to 4% recently, so testing both 3% and 5% scenarios is prudent. If the required monthly at 6% return and 5% inflation is unaffordable, plan a public 2+2 transfer: 2 years at community college averaging $4,150 tuition in 2025-26 plus 2 years public reduces the 4-year total by about $25,000 before inflation. Track the inflated target annually rather than anchoring to today sticker price.
College Savings Calculator - Frequently Asked Questions
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