College Savings Calculator
Enter your child’s age and the college cost target. Education costs inflate faster than everything else — the calculator accounts for it and gives your monthly number.
| Cost when your child turns 18 | — |
| Years to save | — |
| Your current savings will grow to | — |
Quick answer: For a 4-year-old aiming at an in-state public degree (~$218,000 by enrollment after education inflation), starting from $8,000: roughly $600–700/month at 6% returns. Starting at birth roughly halves the monthly number.
Why the target keeps moving
Future cost = Today's cost × (1 + education inflation)years
College inflation has outrun general inflation for decades (~5%/year). Today's $110,000 in-state degree costs about $218,000 when a 4-year-old enrolls. That is the number to plan against — planning at today's price undershoots by half.
Why a 529 plan is usually the vehicle
- Tax-free growth and withdrawals for qualified education costs — worth tens of thousands over 14 years.
- State deductions: most states deduct contributions from state income tax.
- Flexibility improved: unused funds can transfer between siblings, and up to $35,000 can roll to the child's Roth IRA (lifetime, conditions apply).
- Financial aid treatment is gentle: parent-owned 529s reduce aid eligibility by at most 5.64% of value — far less than student-owned assets.
The order of operations parents get wrong
Retirement first, college second. Students can borrow for college; nobody lends for retirement. A parent who pauses 401(k) contributions for the college fund often re-appears in the child's budget 25 years later. Fund the match, fund retirement adequately, then this calculator's number.
Frequently asked questions
How much should I save monthly for college?
For a 4-year-old aiming at an in-state public degree (~$218,000 by enrollment after education inflation), starting from $8,000: roughly $600–700/month at 6% returns. Starting at birth roughly halves the monthly number.
How much does college cost?
All-in (tuition, housing, food, books): in-state public averages ~$27k/year, private ~$60k/year today — and rising ~5% annually. Multiply by four and inflate to your child’s enrollment year.
Is a 529 plan worth it?
For most families, yes: tax-free growth for education, state tax deductions, and improved flexibility (sibling transfers, limited Roth rollovers for unused funds). The main caution is over-funding beyond likely need.
Should I save for college before retirement?
No — retirement wins. College has loans, scholarships, community-college paths, and work options; retirement has none of those. Secure retirement contributions first, then fund the 529.
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Last updated: 2026-07-08