How Much Should I Save for College?
The answer depends on your child's age, today's college costs, and inflation. Enter your details — get a specific monthly savings target.
About this tool
The question every parent asks but few answer correctly. Most estimates ignore college cost inflation and the fact that you're still earning returns while drawing down in college years. This calculator solves for the precise monthly savings needed.
How to use it
Quick steps to get the most out of this utility.
- 1
Start with child's age
Younger children give you more time — but also more inflation to overcome.
- 2
Set your college cost target
Public in-state? Private? Choose the type and let the calculator inflate it.
- 3
Enter what you have now
Current 529 balance — a head start reduces the required monthly contribution.
- 4
Get your savings target
The exact monthly contribution to be 100% funded by college start.
How the Monthly Savings Calculator Works
This calculator projects your 529 balance to college start using monthly compounding, then simulates withdrawing each year's (inflated) tuition at the start of the year while the remaining balance continues to earn returns. If the balance runs out mid-college, it solves for the exact monthly contribution that would avoid any shortfall — using binary search to find the precise PMT that produces a fully-funded result.
Frequently asked questions
What if I can't save the full recommended amount?+
Save what you can — even partial funding is better than none. The calculator shows the funding gap if you save less than the recommended amount. Remember: your child can also contribute through work, scholarships, grants, and loans. Most families fund 30-50% of the goal from 529 savings, with the rest from other sources.
When should I start saving for college?+
As early as possible. Starting at birth vs. age 5 dramatically reduces the required monthly contribution because of the extra years of compound growth. For a $200,000 college cost target, starting at birth vs age 5 reduces the required monthly contribution by 30-40%. Time is your biggest advantage.
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More views of the same calculator
Open main calculator →Same underlying engine, written for different use cases. Pick the angle that matches your situation.