529 College Savings Calculator
Project your 529 balance at college age and compare it to projected tuition costs. See your surplus or shortfall and what monthly contribution fully funds it.
Including tuition, room & board, books
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Frequently asked questions
What is a 529 plan?
A 529 plan is a tax-advantaged savings account for education expenses. Contributions grow tax-free, and withdrawals are tax-free for qualified expenses: tuition, room & board, books, and K-12 (up to $10,000/year). Unused 529 funds can now be rolled over to a Roth IRA (up to $35,000 lifetime, per SECURE 2.0 starting 2024).
What are the tax benefits of a 529 plan?
Federal: contributions are not tax-deductible, but growth and qualified withdrawals are federal-income-tax-free. State: 35+ states offer a state income tax deduction or credit for contributions to their own plan. Some states (Arizona, Kansas, Missouri) allow a deduction for contributions to any state's 529.
What if my child does not go to college?
You can change the beneficiary to another family member, use it for trade school or vocational training (also qualified), or keep it invested. Non-qualified withdrawals pay income tax + 10% penalty on earnings only (not principal). Starting 2024, up to $35,000 can be rolled into a Roth IRA for the beneficiary.
Can grandparents contribute to a 529?
Yes — anyone can contribute to a 529 for any beneficiary. The 2024 FAFSA simplification removed the prior penalty where grandparent-owned 529 distributions counted as student income. Grandparent 529 accounts no longer affect FAFSA aid eligibility starting 2024-25.