529 Savings Goal Calculator
Find the monthly 529 contribution needed to reach a college savings goal, given your head start, years and return.
How it works
monthly = (goal − current × (1 + i)^n) ÷ (((1 + i)^n − 1) ÷ i), where i = return ÷ 12 and n = years × 12
This is the 529 projection run in reverse: instead of asking what a fixed contribution grows to, it solves for the contribution that lands exactly on your goal. Your existing balance is compounded forward first, and only the remaining gap has to be filled by monthly deposits, so a bigger head start sharply lowers the required payment. Because deposits also compound, the longer the horizon the more of the goal is covered by returns rather than out-of-pocket saving.
Worked example
Goal $100,000 in 15 years at 6%, starting from $5,000: the $5,000 grows to about $12,300, leaving roughly $87,700 to fund. The annuity factor over 180 months is about 290.8, so the monthly contribution needed is $87,700 ÷ 290.8 ≈ $302.
Frequently asked questions
What return should I assume?
Age-based 529 portfolios start stock-heavy and shift toward bonds as college nears, so a long horizon might assume 6–7% and a short one much less. A moderate rate keeps the required contribution realistic across that glide path.
What if the required amount is more than I can save?
Lower the goal (aim to cover part of the cost, not all), extend the horizon by starting earlier, or plan to fill the gap with scholarships, current income and student loans. Covering a portion is a normal strategy.
Does this account for taxes?
A 529’s growth is tax-free for qualified education expenses, so no drag is applied to the return. If you use a taxable account instead, reduce the expected return to reflect taxes on gains.
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Educational estimate only, not financial advice. College prices, aid, interest rates and returns vary and change every year — confirm exact figures with the school’s financial-aid office or a licensed advisor.