How to use this 529 calculator
- Enter your Current 529 balance, or 0 if you are opening an account.
- Enter your Monthly contribution, including any regular gifts from family.
- Enter the Years until college. For a newborn that is about 18.
- Set an Expected annual return. 5% to 7% is a common range for a plan that shifts toward bonds as college gets closer.
- Optionally add a Savings goal to see if you are on track and the monthly amount that reaches it.
How the projection works
The calculator compounds monthly and assumes each deposit is made at the end of the month: balance × (1 + i)m + deposit × ((1 + i)m - 1) / i, where i is the yearly return divided by 12 and m is the number of months. For a goal it solves the same formula for the deposit, (goal - balance × (1 + i)m) × i / ((1 + i)m - 1), rounded up to the next dollar.
Worked example with the default numbers
Starting with $5,000 and adding $300 a month for 15 years at 6% gives a projected balance of $99,516. You put in $59,000 and investment growth adds $40,516. Type 120000 into Savings goal and the tool shows you would be $20,484 short, and that about $371 a month would get you there.
What 529 money can pay for in 2026
- College: tuition, fees, books, supplies, computers and internet, plus room and board for students enrolled at least half time.
- K-12: up to $20,000 per student per year from 2026 (it was $10,000), for tuition and also curriculum materials, books, tutoring, test fees and dual enrollment.
- Registered apprenticeships, approved credential programs and up to $10,000 per person, lifetime, toward student loans.
Earnings taken out for anything else are taxed as income plus a 10% additional tax. The projection ignores plan fees, state tax deductions and inflation, and real returns vary year to year. To turn a future price into a goal, use the college cost calculator; to plan any other target, the savings goal calculator; and if savings will fall short, check payments with the student loan calculator.
529 plan questions people ask
How much should I put in a 529 each month?
Work back from a goal: enter a target in the Savings goal field and the calculator shows the monthly amount needed. For example, growing $5,000 to $120,000 in 15 years at 6% takes about $371 a month.
Is there a limit on how much I can put in a 529?
There is no yearly federal limit, but each state plan caps the total balance per beneficiary. Gifts above $19,000 per giver per child in 2026 need a gift tax return, and a special election lets one person put in up to $95,000 at once and spread it over five years.
What happens to a 529 if my child does not go to college?
You can change the beneficiary to another family member, keep the money for later study, or roll up to $35,000 over the beneficiary's lifetime into their Roth IRA if the account has been open more than 15 years, within the yearly Roth limit. Otherwise withdrawn earnings are taxed plus a 10% additional tax, with exceptions such as scholarships.
Can I use a 529 for private K-12 school?
Yes. From 2026 you can take up to $20,000 per student per year for K-12 tuition and related costs such as curriculum, tutoring and test fees. Some states do not follow the federal K-12 rules for state income tax, so check your plan.
Sources: IRS Publication 970, 26 U.S.C. 529 as amended by Public Law 119-21 (2026 K-12 limit), IRS Rev. Proc. 2025-32 (2026 gift exclusion). Figures checked September 2026.