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529 Plan Calculator — Tax-Free Growth for College

See how much your 529 grows tax-free over your child's life — and how much you save in state income tax deductions along the way.

Quick answer: A 529 plan can grow tax-free for qualified education expenses. The result depends on contributions, investment return, tuition inflation, state tax benefits, and the child’s age.

Projected 529 Balance at 18
$88,048
Projected 529 Balance at 18
$88,048
Years Until College
13
Months Until College
156
Annual Contribution
$3,600
529 balance at college - contributions vs growth
$88,048total
Total Contributed$51,800
Projected Investment Growth$36,248
Total$88,048
Current-Year Contribution
$3,600
Future College Cost Target
$199,809
Current Balance at College
$12,049
One-Time Contribution at College
$0
Future Value of Monthly Contributions
$75,999
Total Amount Contributed
$51,800
Remaining College Funding Gap
$111,760
Projected 529 Surplus
$0
Target Funded
44.07%
Extra Monthly Contribution Needed
$441
First-Year State Tax Savings
$180
Estimated State Tax Savings
$2,340
2026 Annual Gift Exclusion
$38,000
Five-Year 529 Superfunding Room
$190,000
Gift Amount Above Annual Exclusion
$0
Amount Above Five-Year Election Room
$0
Share this result

My 529 is projected to reach $88,048, covering 44.07% of the modeled college target with $111,760 still to fund.

529 college funding planWithin annual exclusion
Projected 529 balance
$88,048
Future cost target
$199,809
Target funded
44.07%
Monthly gap
$441
Next best move

Keep the contribution schedule tied to the college-cost target and revisit the state deduction cap each tax year.

Funding gap

Remaining gap is $111,760; projected surplus is $0.

State tax value

First-year state tax savings are $180; estimated lifetime savings are $2,340.

Gift-tax guardrail

Annual exclusion room is $38,000; current-year amount above that room is $0.

Superfund room

Five-year 529 election room is $190,000; amount above that room is $0.

Tax-free growth

Projected tax-free growth is $36,248 when used for qualified education expenses.

What to do next

Build this in Money Map ->

Your action plan
  1. 1

    Measure the college funding gap

    Compare the projected 529 balance with the future cost target before changing monthly savings.

  2. 2

    Check gift-tax guardrails

    Review the current annual exclusion and five-year superfunding room before large parent or grandparent gifts.

  3. 3

    Build the college plan in Money Map

    Save 529, cash, taxable brokerage, and student-loan tradeoffs together.

Build this in Money Map

This is an educational estimate, not tax, legal, investment, or lending advice. Tax rules, rates, and eligibility change and depend on your full situation. Confirm with a qualified professional or the provider before acting.

Calculator action path

Turn this result into a decision

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Build this college plan in Money MapSave the 529 target, contribution gap, cash reserve, and education-funding priorities together.
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Check state tax benefitEstimate whether your state deduction or credit changes the best contribution amount.
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Compare 529 vs brokerage vs loansTest whether extra money belongs in the 529, a taxable account, or future debt avoidance.
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Model general college savingsStress-test the broader college savings path before changing the 529 target.
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Frequently Asked Questions

Everything you need to know.

What happens if my child does not go to college?
Several options: (1) transfer the 529 to a sibling, parent, or other family member; (2) use up to $10K for K-12 tuition; (3) use up to $10K to repay student loans; (4) starting 2024, roll over up to $35K (lifetime) to a Roth IRA for the beneficiary. Worst case, withdraw the contributions tax-free (only earnings face tax + 10% penalty).
Should I use my home state's 529 plan?
If your state offers a deduction or credit on contributions to its own plan, almost always yes — that's free money. If your state has no deduction (CA, FL, TX, etc.) or offers it on any plan, shop for the lowest-fee option nationally. Utah, Nevada, and New York generally have the best plans by cost and investment options.
Can grandparents contribute to a 529?
Yes, and there is a special rule allowing 5 years of gift-tax exemption in one year — up to $90K per grandparent per beneficiary (for 2024). This lets grandparents make large lump-sum contributions without triggering gift tax filings. Recent FAFSA changes (effective 2024-25) also mean grandparent-owned 529s no longer hurt financial aid eligibility.
Is the 529 Plan Calculator — Tax-Free Growth for College free to use?
Yes. SwitchWize calculators are free, and you do not need an account to run scenarios or view the result.
Does using the 529 Plan Calculator — Tax-Free Growth for College affect my credit score?
No. Using a calculator does not trigger a credit check. A credit impact can occur only if you apply directly with a lender, card issuer, or provider.
Are the results personalized financial advice?
No. Calculator outputs are educational estimates based on the inputs you enter. Review assumptions and confirm terms directly with providers before making a financial decision.
What should I do after seeing the result?
Use the recommendation module on this page to build this in money map ->, or run Money Map to compare this investing & retirement decision with your other opportunities.
How does SwitchWize choose related offers?
Related offers are matched by the calculator surface (savings) and ranked using SwitchWize data such as rate, fees, trust signals, product fit, and switching friction. Paid relationships do not change organic ranking order.
How fresh are the rates and offers shown?
Rate and offer data is reviewed on a recurring cadence and every offer module shows review context or links to the methodology and disclosure pages.
Where can I see the ranking methodology?
The SwitchWize methodology page explains how rate freshness, editorial review, affiliate disclosure, and category ranking factors work.
Can Money Map use this result?
Yes. Money Map is the broader diagnostic path: it compares savings, mortgage, cards, and debt so you can see whether this calculator result is your highest-impact next move.

Why This Matters

529 plans have two compounding advantages over a regular brokerage account: growth is tax-free if used for qualified education expenses, AND 35+ states offer a deduction (or credit) on contributions. The earlier you start, the bigger the compounding window. A $300/month contribution from age 5 to 18 typically grows to $80K+, with $30K+ of that being tax-free growth.

How to Use It

  1. 1Enter your child's current age
  2. 2Enter your initial lump sum and ongoing monthly contribution
  3. 3Set the expected annual return (7% is the historical real return on a balanced portfolio)
  4. 4Enter your state's 529 deduction percentage (see hint for examples)
  5. 5See the 529 value at college start, tax-free growth, and the advantage over a taxable account
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