529 Calculator

Frequently asked questions

Why doesn't this ask which state I'm in or recommend a specific 529 plan?

Because it isn't selling one. Nearly every 529 calculator you'll find is run by a brokerage promoting its own managed plan or a specific state promoting its own plan, and their calculators tend to point you there. This tool only does the math: what you're on track to have, what the gap is, and what it takes to close it. Which plan you actually use is a separate decision, and a good independent starting point for that comparison is the Saving for College plan directory.

What does the target amount mean, and where do I get one?

It's simply the dollar amount you're saving toward, whatever number you decide is right for your situation. This tool doesn't estimate future college costs for you, since a credible estimate needs a maintained national-average dataset broken out by school type, and a stale or generic guess would be worse than no guess at all. A reasonable starting point many families use is a round number like $100,000 to $200,000 per child for a four-year in-state public school, adjusted for your own plans; treat it as your own number to set and revisit, not something this tool should invent for you.

Does my state offer a tax deduction for 529 contributions?

Many states do, some states offer a deduction or credit for contributing to any state's 529 plan, others only for their own state's plan, and a handful offer nothing at all. This tool doesn't model that benefit, since the rules vary by state and change periodically; check your own state's specific treatment before assuming a deduction applies, and factor it in separately if it does.

What can 529 funds actually be used for?

Federal law treats qualified higher education expenses (tuition, fees, room and board, books and required equipment at an eligible institution) as tax-free withdrawals, along with up to $10,000 a year in K-12 tuition. Since 2024, unused 529 funds can also be rolled into a Roth IRA for the same beneficiary, up to a $35,000 lifetime limit and subject to annual Roth contribution limits, under rules added by SECURE 2.0. Withdrawals used for anything else are subject to income tax and a 10% penalty on the earnings portion.

What does the required monthly contribution figure actually tell me?

For each goal, it's the level monthly amount that, starting now and growing at your entered return assumption, would land exactly on your target by the target age, solved directly from the same projection formula used everywhere else on this page. If it's higher than what you're actually contributing, that's the size of the adjustment needed, either a higher contribution, a longer horizon, a lower target, or accepting the gap.

Can I track more than one child?

Yes, each child or goal you add is tracked separately with its own ages, savings, contribution and target, and the summary and chart combine them into a household total.

Why save a snapshot instead of just watching the live projection?

The live numbers always reflect your current plan, a projection of what should happen, not a record of what actually did. Saving a snapshot captures your actual total savings at that moment, so revisiting this tool every few months builds a real progress line, not just the same forecast recalculated.

Is my savings data private?

Yes. Every goal and snapshot is stored only in this browser's IndexedDB, on your device, never uploaded anywhere. There's no account, no sync between devices and no export yet, so clearing your browser data or switching devices loses everything entered here.