Project your college fund growth, estimate future costs, and find out if you are on track to cover tuition.
Quick Answer:The average 4-year college cost in 2026 is approximately $100,000-$220,000. Starting to save early with a 529 plan lets compound growth work in your favor, and contributions grow tax-free.
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In 2026, 529 plans offer more flexibility than ever. You can now roll over unused 529 funds into a Roth IRA (up to $35,000 lifetime, subject to annual limits). Many states offer tax deductions of $2,000-$10,000+ per year for contributions. Consider front-loading contributions early -- even modest amounts invested when a child is young benefit enormously from compound growth over 15+ years.
A 529 plan is a tax-advantaged investment account designed to save for education expenses. Contributions grow tax-free, and withdrawals are also tax-free when used for qualified education expenses including tuition, room and board, books, and supplies. Many states also offer state income tax deductions for contributions. You can open an account in any state regardless of where you live.
The amount depends on your child's age, target school type, and current savings. For a newborn aiming at a 4-year public university, saving around $300-$500 per month can cover most costs. Starting earlier lets compound interest do more work. Use this calculator to find your personalized monthly savings target based on your specific situation.
Unused 529 funds can be transferred to another family member's education, used for K-12 tuition (up to $10,000/year), or as of 2024, rolled over into a Roth IRA (up to $35,000 lifetime limit, subject to annual Roth contribution limits). Non-qualified withdrawals are subject to income tax and a 10% penalty on earnings only -- your contributions can always be withdrawn without penalty.