acalculator

How much college savings do I need?

Type your child's age, the yearly cost of college today, how much of it you want to cover, what you have saved and the return you expect. The college savings calculator shows how much to save each month, or once today.

Your numbers

Average 2025-26 tuition and fees: $11,950 public in-state, $31,880 out-of-state, $45,000 private (College Board).
Returns are never guaranteed.
Save each month
$270.43

Save $270.43 a month to have $68,215.66 when college starts, enough for 100% of the cost.

Needed when college starts
$68,215.66
Or once, today
$31,176.22
College will cost
$73,418.38
Your savings pay
$73,418.38
You put in
$47,187.28
Left after college
$0.00
Months
204

Save each month: $270.43. Save $270.43 a month to have $68,215.66 when college starts, enough for 100% of the cost.

How do the savings grow and pay for college?

What does each year look like?

The results are estimates for information only. They are not financial, tax, or legal advice. Check the numbers with your lender or a qualified professional before you decide. Terms of use

How to calculate

Works out how much to save each month for college: the share of rising college costs you want to cover, what you have saved, and a steady return, with the lump sum that would do it today.

Example with the default inputs (Child’s age now 5, College starts at age 18, Years of college 4, Yearly college cost today $11,950.00, College costs rise each year by 3%, Share of the cost to save for 100%, Saved so far $5,000.00, Expected yearly return 5%): Save $270.43 a month to have $68,215.66 when college starts, enough for 100% of the cost.

Method: Cost of college year j = cost × (1 + rise)^(years until college + j). Goal at college start = Σ share × cost_j ÷ (1 + r)^j. Monthly saving = (goal − saved × (1 + r)^years) × g ÷ ((1 + g)^(12 × years) − 1), with g = (1 + r)^(1/12) − 1.

  • Savings are added at the end of each month until college starts; each college year is paid at its start.
  • The return and the rise in college costs stay the same every year; taxes and fees are not taken off.

Machine-readable copies: Markdown, JSON.

Worked examples

Each example is checked against the calculator on every build.

  1. Child’s age now 14, College starts at age 18, Years of college 4, Yearly college cost today $10,000.00, College costs rise each year by 0%, Share of the cost to save for 100%, Saved so far $12,000.00, Expected yearly return 0% gives Needed when college starts $40,000.00, Save each month $583.33, Or once, today $28,000.00, You put in $40,000.00, Left after college $0.00.Source: IRS, 529 Plans: Questions and Answers (earnings grow free of federal tax when used for tuition, fees, books, room and board), https://www.irs.gov/newsroom/529-plans-questions-and-answers
  2. Child’s age now 5, College starts at age 18, Years of college 4, Yearly college cost today $11,950.00, College costs rise each year by 3%, Share of the cost to save for 100%, Saved so far $5,000.00, Expected yearly return 5% gives Needed when college starts $68,215.66, Save each month $270.43, Or once, today $31,176.22, College will cost $73,418.38, You put in $47,187.28.Source: College Board, Trends in College Pricing 2025 Highlights: 2025-26 average published tuition and fees $11,950 public four-year in-state (+$340), $31,880 out-of-state, $45,000 private nonprofit four-year, https://research.collegeboard.org/trends/college-pricing/highlights
  3. Child’s age now 0, College starts at age 18, Years of college 4, Yearly college cost today $45,000.00, College costs rise each year by 3%, Share of the cost to save for 50%, Saved so far $0.00, Expected yearly return 6% gives Needed when college starts $146,836.26, Save each month $385.44, Or once, today $51,443.17, College will cost $320,505.52, Your savings pay $160,252.76.Source: College Board, Trends in College Pricing 2025 Highlights: 2025-26 average published tuition and fees $11,950 public four-year in-state (+$340), $31,880 out-of-state, $45,000 private nonprofit four-year, https://research.collegeboard.org/trends/college-pricing/highlights
  4. Child’s age now 10, College starts at age 18, Years of college 4, Yearly college cost today $10,000.00, College costs rise each year by 0%, Share of the cost to save for 100%, Saved so far $100,000.00, Expected yearly return 4% gives Save each month $0.00, Or once, today $0.00, Needed when college starts $37,750.91, Left after college $115,940.00.Source: IRS, 529 Plans: Questions and Answers (earnings grow free of federal tax when used for tuition, fees, books, room and board), https://www.irs.gov/newsroom/529-plans-questions-and-answers

How it works

With Y = college start age − age now (whole years, at least 1), N the years of college, C the yearly cost today, k the yearly rise in college costs, s the share to save for, S what is saved now and r the yearly return (all percents ÷ 100):

  • Cost of college year j (j = 0 to N − 1) = C × (1 + k)^(Y + j).
  • Paid from savings in year j: Wⱼ = s × cost of year j, at the start of that college year.
  • Needed when college starts (goal) = Σ Wⱼ ÷ (1 + r)^j. The money for later years keeps earning while it waits.
  • Monthly return g = (1 + r)^(1/12) − 1.
  • Save each month = (goal − S × (1 + r)^Y) × g ÷ ((1 + g)^(12Y) − 1), or (goal − S) ÷ (12Y) when r = 0. Savings are added at the end of each month for 12Y months. A result below 0 shows 0.
  • Or once, today = goal ÷ (1 + r)^Y − S, or 0 if that is below 0.
  • College will cost = Σ cost of year j. Your savings pay = Σ Wⱼ. You put in = S + 12Y × the monthly saving.
  • Left after college: the balance after the last college year, from the month-by-month schedule below. It is 0 when there is a monthly saving and more than 0 when the savings already cover the goal.

The schedule runs one month at a time from today, with the monthly saving above. In month n (n = 0 at the start): during college, at the first month of each college year, the payment Wⱼ comes out first (never more than the balance); the rest earns g for the month; before college, the monthly saving is added at the end of the month. Money is not rounded between months; each value rounds to the cent for display only.

Assumptions: the return and the rise in college costs stay the same every year; taxes, fees and financial aid are not counted.

Rules

  • Age now from 0 to 24 and college start age from 1 to 25 (whole years); the start age must be after the age now, or there is no answer. Years of college 1 to 8. Yearly cost $0 to $10,000,000; cost rise 0% to 15%; share 0% to 100%; saved $0 to $1,000,000,000; return 0% to 20%. A value outside that shows a message on its field.

Worked examples by hand

No growth. Age 14, college at 18 for 4 years at $10,000, $12,000 saved, 0% return, 0% rise. Goal = 4 × 10,000 = $40,000. Monthly = (40,000 − 12,000) ÷ 48 = $583.33. Once today: 40,000 − 12,000 = $28,000.

Public in-state college (College Board $11,950). Age 5, college at 18 (Y = 13), 4 years, 3% rise, 100%, $5,000 saved, 5% return. Year costs 11,950 × 1.03^13 = $17,548.98, then $18,075.45, $18,617.71, $19,176.24 (total $73,418.38). Goal = 17,548.98 + 18,075.45 ÷ 1.05 + 18,617.71 ÷ 1.05² + 19,176.24 ÷ 1.05³ = $68,215.66. g = 1.05^(1/12) − 1 = 0.0040741. 5,000 × 1.05^13 = $9,428.25. Monthly = (68,215.66 − 9,428.25) × g ÷ (1.05^13 − 1) = $270.43. Once today: 68,215.66 ÷ 1.05^13 − 5,000 = $31,176.22.

Half of private college for a newborn. $45,000, 3% rise, 50%, nothing saved, 6% return, Y = 18. Goal = $146,836.26, monthly = $385.44, once today = $51,443.17; college costs $320,505.52 in all, of which the savings pay $160,252.76.

Already enough. Age 10, college at 18, $10,000 a year, no rise, $100,000 saved, 4%. Goal = 10,000 × (1 + 1/1.04 + 1/1.04² + 1/1.04³) = $37,750.91, which $100,000 × 1.04^8 = $136,856.91 more than covers: monthly $0, $115,940.00 left after college.

Other questions people ask

How much should I save each month for college?

Enough that the savings, with their growth, pay your share of each college year when it comes due. For a 5-year-old, public in-state tuition and fees of $11,950 a year rising 3% a year, $5,000 saved and a 5% return, that is about $270 a month until age 18.

What does college cost?

The College Board puts average 2025-26 published tuition and fees at $11,950 for a public four-year college in state, $31,880 out of state and $45,000 at a private nonprofit four-year college. Housing, food and books come on top; add them to the yearly cost if you plan to pay them.

Do I have to save for the whole cost?

No. Set the share to save for. Many families plan to pay part from savings and the rest from income, grants, scholarships or loans. Starting from $0 saved, saving for 50% of the cost needs half the monthly amount of saving for 100%; with money already saved, it needs less than half.

Why does the goal at college start come out less than the total cost?

Only the first year is due on the first day. The money for later years keeps earning a return while it waits, so less is needed up front. At a 0% return the goal equals the total.

Should I save in a 529 plan?

A 529 plan is one common choice. The IRS says its earnings grow free of federal tax when spent on qualified education costs such as tuition, fees, books, room and board. The 529 calculator projects a 529 plan you already pay into.

What return and cost rise should I use?

Neither is known in advance. College Board prices rose $340 (about 2.9%) at public four-year colleges from 2024-25 to 2025-26. Try a few returns to see the range; a lower return needs more saving.