Project the future cost of college accounting for tuition inflation, and find how much you need to save each month to cover it. Plan ahead for a 529 or education savings goal.
Future cost & savings needed
College costs have historically risen faster than general inflation — often 4%–6% per year. That means a degree that costs $25,000 a year today could cost far more by the time a young child enrolls. This calculator projects the total future cost across all years of college using your assumed tuition inflation, then subtracts the projected growth of your current savings and calculates the monthly amount you'd need to save (in a 529 or similar account) to close the gap by enrollment.
For example, $25,000/year today at 5% inflation, starting in 10 years for a 4-year degree, totals well over $130,000 in future dollars. With $10,000 already saved growing at 6%, you'd still need to save a few hundred dollars a month to fully fund it. Starting early dramatically lowers the monthly amount, because your contributions have more time to compound.
College costs typically rise 4%–6%/year — faster than overall inflation. Project realistically so you don't undersave.
Tax-advantaged 529 accounts let education savings grow tax-free when used for qualified expenses — ideal for this goal.
The earlier you start, the more compounding does the work and the smaller your required monthly contribution.