College Savings Calculator
Tuition rises faster than almost anything else. Project the future cost of college with education inflation, see what your current plan will reach by the time they enrol, and find the monthly amount to fully fund it.
Estimates are for illustration and education only — not financial advice. Returns and cost inflation are assumed constant and are not guaranteed.
What will a year of college cost when they get there?
A single year's cost, inflated at 5% a year, by how far away enrolment is. Multiply by the number of years to size the whole bill.
| Cost today | In 5 years | In 10 years | In 15 years | In 18 years |
|---|---|---|---|---|
| $15,000 | $19,145 | $24,433 | $31,183 | $36,099 |
| $25,000 | $31,908 | $40,722 | $51,973 | $60,165 |
| $28,000 | $35,737 | $45,609 | $58,210 | $67,385 |
| $40,000 | $51,053 | $65,156 | $83,157 | $96,264 |
| $60,000 | $76,579 | $97,733 | $124,735 | $144,396 |
Figures assume a constant 5% annual cost increase — the rough long-run average for tuition. Actual increases vary by school and year.
How college savings math works
Saving for college is a race between two compounding forces: the cost of tuition, which grows with education inflation, and your savings, which grow with investment returns. This calculator projects both to the year your child enrols and shows whether your plan closes the gap.
Why the sticker price isn't the target
The number that matters isn't what college costs today — it's what it will cost when your child actually goes. College costs have historically risen around 5% a year, faster than general inflation. A degree that runs $28,000 a year now can easily cost half again as much in a decade, which is why starting early matters so much.
The power of a long runway
With eighteen years, investment growth can cover a large share of the bill and your out-of-pocket contributions stay modest. With five, there's little time for compounding, so your monthly deposits do nearly all the work. Every year earlier you start meaningfully lowers the monthly amount required.
Tax-advantaged accounts
A 529 plan lets college savings grow tax-free when used for qualified education expenses, and many states offer a deduction on contributions. That tax-free growth is why the return assumption here can be a bit higher than a plain savings account — though 529 investments carry market risk, so glide to more conservative options as enrolment nears.
You don't have to fund 100%
Financial aid, scholarships, work-study, and the student's own contribution all help. Many families target covering a portion — say half or two-thirds — and treat the rest as flexible. Set your goal accordingly, and pair this with our savings goal calculator if you'd rather work backward from a fixed target.
Saving for a rising target
College is a moving goal: tuition tends to rise faster than general inflation, so the calculator first grows today's cost to a future price tag, then solves for the monthly saving that meets it.
Saving smarter for education
Time and the right account do most of the work. Start early, use tax advantages, and be realistic about what you're aiming to cover.
Works for you helps
- Starting at birth — 18 years of compounding
- A tax-advantaged 529 plan for education costs
- Gifts from family routed into the plan
- Aiming to cover a share, not necessarily 100%
Works against you hurts
- Waiting until the teenage years to begin
- Ignoring that tuition outpaces normal inflation
- Holding it all in cash for an 18-year goal
- Sacrificing your own retirement to over-fund it
You don't have to fund it all. Scholarships, financial aid, a student's own contribution and income during school all help. Many families aim to cover a portion — say half — and treat the rest as a shared responsibility. Partial funding with compounding beats an all-or-nothing plan you can't sustain.
Retirement comes first. There are loans for college, but none for retirement. Fund your own future at least to any employer match before stretching for education savings.