{
  "slug": "529-savings-target",
  "title": "529 College Savings Target Calculator",
  "heading": "529 Plan Savings Target Calculator",
  "category": "financial",
  "url": "https://www.revenuelab.fyi/toolbox/529-savings-target",
  "summary": "Monthly contribution needed to hit a college savings goal.",
  "description": "College costs inflate faster than general inflation, typically 4-6% a year, so a savings plan built on today's tuition number will fall short. This calculator projects a future tuition target using a college cost inflation rate, subtracts what your existing 529 balance will grow to on its own, and solves for the monthly contribution needed to close the gap using a standard future-value-of-annuity calculation with expected investment growth.",
  "formula": "Future cost = today's cost × (1 + college inflation)^years; future value of current balance = balance × (1 + return)^years; monthly contribution solves FV(annuity) = target − grown balance.",
  "dateModified": "2026-09-30",
  "run_url": "https://www.revenuelab.fyi/api/public/calc?tool=529-savings-target",
  "inputs": [
    {
      "id": "currentCost",
      "label": "Today's annual cost (4-year total ÷ 4)",
      "kind": "number",
      "hint": null,
      "default": 24000,
      "unit": "$",
      "min": 0,
      "max": null
    },
    {
      "id": "years",
      "label": "Years until college starts",
      "kind": "number",
      "hint": null,
      "default": 12,
      "unit": null,
      "min": 1,
      "max": 18
    },
    {
      "id": "yearsInCollege",
      "label": "Years of college to fund",
      "kind": "number",
      "hint": null,
      "default": 4,
      "unit": null,
      "min": 1,
      "max": 6
    },
    {
      "id": "currentBalance",
      "label": "Current 529 balance",
      "kind": "number",
      "hint": null,
      "default": 8000,
      "unit": "$",
      "min": 0,
      "max": null
    },
    {
      "id": "inflation",
      "label": "College cost inflation rate",
      "kind": "number",
      "hint": null,
      "default": 5,
      "unit": "%",
      "min": 0,
      "max": 10
    },
    {
      "id": "returnRate",
      "label": "Expected annual investment return",
      "kind": "number",
      "hint": null,
      "default": 6,
      "unit": "%",
      "min": 0,
      "max": 12
    }
  ],
  "outputs": [
    {
      "id": "monthlyContribution",
      "label": "Monthly contribution needed",
      "format": "currency",
      "hint": null,
      "primary": true
    },
    {
      "id": "totalTarget",
      "label": "Projected total cost",
      "format": "currency",
      "hint": null,
      "primary": false
    },
    {
      "id": "futureCostPerYear",
      "label": "Projected cost per year",
      "format": "currency",
      "hint": null,
      "primary": false
    },
    {
      "id": "grownBalance",
      "label": "Current balance grown by then",
      "format": "currency",
      "hint": null,
      "primary": false
    },
    {
      "id": "gap",
      "label": "Remaining gap to fund",
      "format": "currency",
      "hint": null,
      "primary": false
    }
  ],
  "worked_example": {
    "inputs": [
      "Today's annual cost (4-year total ÷ 4): 24000 $",
      "Years until college starts: 12",
      "Years of college to fund: 4",
      "Current 529 balance: 8000 $",
      "College cost inflation rate: 5 %",
      "Expected annual investment return: 6 %"
    ],
    "outputs": [
      "Monthly contribution needed: $744",
      "Projected total cost: $172,402",
      "Projected cost per year: $43,101",
      "Current balance grown by then: $16,098",
      "Remaining gap to fund: $156,305"
    ]
  },
  "how_to": {
    "title": "How to use this",
    "steps": [
      "Enter today's annual cost (4-year total ÷ 4) ($).",
      "Enter years until college starts.",
      "Enter years of college to fund.",
      "Enter current 529 balance ($).",
      "Enter college cost inflation rate (%).",
      "Enter expected annual investment return (%).",
      "Read your monthly contribution needed on the right — it updates as you type.",
      "Hit Share to keep the scenario or send it to someone."
    ]
  },
  "scenarios": [
    {
      "name": "Conservative",
      "description": "Lower-end numbers — what if things land soft?",
      "values": {
        "currentCost": 14000,
        "years": 7,
        "yearsInCollege": 2,
        "currentBalance": 5000,
        "inflation": 3,
        "returnRate": 3.5999999999999996
      }
    },
    {
      "name": "Typical",
      "description": "Defaults — the most common real-world setup.",
      "values": {
        "currentCost": 24000,
        "years": 12,
        "yearsInCollege": 4,
        "currentBalance": 8000,
        "inflation": 5,
        "returnRate": 6
      }
    },
    {
      "name": "Ambitious",
      "description": "Higher-end numbers — what if things really pop?",
      "values": {
        "currentCost": 38000,
        "years": 18,
        "yearsInCollege": 6,
        "currentBalance": 13000,
        "inflation": 8,
        "returnRate": 9.600000000000001
      }
    }
  ],
  "limitations": [
    "Results are estimates before tax, fees, and inflation unless an input explicitly covers them.",
    "Rates are treated as fixed for the whole period — variable-rate products will drift from this projection.",
    "This is educational maths, not financial advice. Check anything contractual with the lender or your accountant."
  ],
  "faq": [
    {
      "q": "Why use 5% for college inflation instead of general CPI?",
      "a": "Published tuition and fees have historically risen faster than general inflation, though the gap has narrowed in the last decade as many schools slow sticker-price increases and lean on discounting. 4-6% is a reasonable planning range; use the lower end for public in-state schools and the higher end for private colleges."
    },
    {
      "q": "Do I need to fund 100% of the target?",
      "a": "No — most families combine 529 savings with financial aid, scholarships, current income, and some loans. A common rule of thumb is to aim for covering about a third to half of expected costs through dedicated savings and plan to bridge the rest."
    },
    {
      "q": "What if I have multiple kids?",
      "a": "Run this calculator once per child, since their years-until-college differ. Many 529 plans let you change the beneficiary, so overfunding one child's account isn't wasted if a sibling can use the remainder."
    },
    {
      "q": "Are 529 withdrawals really tax-free?",
      "a": "Growth and withdrawals are federal tax-free when used for qualified education expenses (tuition, fees, room and board, books). Non-qualified withdrawals owe income tax plus a 10% penalty on the earnings portion only, not the full withdrawal."
    }
  ],
  "related": [
    "https://www.revenuelab.fyi/toolbox/cost-of-raising-a-child",
    "https://www.revenuelab.fyi/toolbox/college-savings-vs-loans"
  ],
  "license": "CC-BY-4.0",
  "citation": "RevenueLab — 529 College Savings Target Calculator (https://www.revenuelab.fyi/toolbox/529-savings-target)"
}