College Savings Calculator
See how a 529 plan grows with monthly contributions and compound growth.
What is a college savings calculator?
A college savings calculator shows how monthly contributions into a 529 plan grow over time with compound returns, so you can see how much you will have saved by the time college starts.
How to use the college savings calculator
Enter your monthly contribution, the expected annual return and the number of years until college, then click Calculate. The calculator shows the future value, how much you paid in and the growth.
College savings formula
Future value FV = PMT × ((1 + r)ⁿ − 1) ÷ r, where PMT is the monthly contribution, r is the monthly return and n is the number of months. Paid in = PMT × n. Growth = Future value − Paid in.
Example
Saving $200 a month for 10 years at a 6% annual return gives a future value of $32,775.87. You paid in $24,000.00 and the growth is $8,775.87.
Frequently Asked Questions
How much will $200 a month grow to in 10 years at 6%?
It will grow to $32,775.87. Try it on the calculator above.
How much will I have paid in?
Paying $200 a month for 120 months means you paid in $24,000.00.
What is a 529 plan?
A 529 plan is a tax-advantaged savings plan for education costs. Money grows tax-free and withdrawals for qualified education expenses are tax-free.
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