College Savings Calculator
Enter your child's age and the type of college you are planning for to instantly see how much you need to save each month — including inflation-adjusted tuition projections.
Projected 4-Year Cost
$0
Estimated total cost including tuition, room, board, and fees — adjusted for 13 years of 5% annual college inflation.
Your Savings Target
$0
Based on covering 100% of the projected cost.
Monthly Savings Needed
$0
Assuming 6% annual return in a 529 plan or similar investment account.
Years Until College
13
Time remaining to build your college fund.
Track Your College Savings Progress
Set your monthly savings target and track progress with our free budget template. Watch your college fund grow month by month.
Get the Free Budget Template →Current College Costs (2026 Estimates)
- Public university (in-state) — ~$23,000/year (tuition + room & board)
- Public university (out-of-state) — ~$42,000/year
- Private university — ~$56,000/year
College costs have been increasing at roughly 5% per year — more than double the general inflation rate. This calculator factors in that growth to give you a realistic savings target.
Best Ways to Save for College
- 529 Plan — tax-free growth and withdrawals for education expenses. The best option for most families.
- Coverdell ESA — similar tax benefits but lower contribution limits ($2,000/year).
- Custodial accounts (UGMA/UTMA) — flexible but counted more heavily in financial aid formulas.
- Roth IRA — contributions can be withdrawn penalty-free; a backup strategy.
Reducing College Costs
- Community college first — 2 years at community college can save $30,000-$60,000.
- Scholarships and grants — apply to 20+ scholarships; even small ones add up.
- AP/dual enrollment credits — earn college credits in high school for free.
- In-state tuition — out-of-state costs nearly double; consider state schools first.
Related Resources
- How to Save Money as a College Student
- How to Track Expenses in Notion
- Common Budgeting Mistakes to Avoid
Frequently Asked Questions
When should I start saving for college?
As early as possible — ideally at birth. Starting at birth gives you 18 years of compound growth. Even $200/month from birth can grow to $80,000+ by age 18 in a 529 plan with 6% returns.
Do I need to cover 100% of college costs?
No. Many families aim to cover 50-75% through savings and cover the rest with scholarships, financial aid, work-study, and modest student loans. Covering even one-third significantly reduces future debt burden.
What if my child gets a scholarship?
529 plan funds can be transferred to another child, used for graduate school, or withdrawn penalty-free up to the scholarship amount (you still pay income tax on earnings but no 10% penalty). It is never wasted.