TopicDrill

College Savings Calculator

Find out whether your savings are on pace for college. Enter what you have saved, your monthly deposit, expected return and the future cost, then press Calculate to see your funding gap.

Written by TopicDrill Editorial Team·Updated June 2026

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Your plan

Fill in the details, then press Calculate.

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Funding gap

$152,836

39% funded · save about $833/mo to fully fund

Projected savings at enrollment$98,056
Projected total cost$250,892
Projected shortfall$152,836

Savings versus the goal

Balance Deposited Goal
$0$62.7k$125.4k$188.2k$250.9k0 yr8 yr15 yr

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How the college savings calculator works

The tool runs two projections side by side. On the cost side it takes today's annual tuition and inflates it forward, year by year, to the future dates when each year of college will actually be paid. On the savings side it grows your current balance and your monthly deposits at the return you expect, right up to enrollment.

Comparing the two gives your funding gap. The chart plots your rising balance against the flat goal line, with a dashed line showing only the money you deposited, so you can see at a glance how much of the goal comes from growth versus your own contributions.

A worked example

Say tuition is 28,000 dollars a year today, rising 5 percent annually, with enrollment fifteen years away and a four-year program. The inflated four-year bill works out near 250,000 dollars. Starting with 5,000 dollars saved and adding 300 dollars a month at a 6 percent return reaches roughly 100,000 dollars, leaving a gap the tool helps you close.

Things to keep in mind

Returns and tuition inflation are assumptions, not guarantees, so revisit the numbers every year or two. A tax-advantaged account can make a real difference to the outcome. The official rundown of how these plans work is on Investor.gov. To stress-test the growth side on its own, try our future value calculator.

Frequently asked questions

Why does the projected cost look so much higher than today's tuition?

College costs tend to rise faster than general inflation, often around 5 percent a year. The calculator inflates each year of tuition to the point in the future when it will actually be paid, so a degree starting fifteen years from now costs far more than the same degree would today.

What return should I assume for a 529 plan?

It depends on how the money is invested. Many 529 plans use age-based portfolios that hold more stocks while the child is young and shift toward bonds as enrollment nears. A long-run assumption of 5 to 7 percent is common, but lower it as you get closer to the first tuition bill.

What does the required monthly amount mean?

It is the monthly deposit that would let your plan exactly meet the projected total cost by enrollment, given your current balance and expected return. If your current contribution is below this figure you have a shortfall, and raising your deposit to it closes the gap.

Do I need to cover 100 percent of the cost with savings?

Not necessarily. Many families plan to cover part of college from savings and the rest from current income, scholarships, grants or student aid. Use the funded percentage as a target you can adjust rather than an all-or-nothing goal.

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