529 Plan Calculator
Project 529 education savings plan growth from contributions, returns, and college costs. Enter values for instant results with step-by-step formulas.
Reviewed for accuracy by Daniel Agrici, Founder & Lead Developer
529 Plan Calculator
Calculator
Adjust values & calculateEnter your values below. Every result is computed in your browser — no data is sent to any server.
Formula: FV = PV(1+r/12)^n + PMT×((1+r/12)^n - 1)/(r/12)
Worked example — ~$78K (41% of projected costs)
Formula
FV = PV(1+r/12)^n + PMT×((1+r/12)^n - 1)/(r/12)
529 plans grow tax-free for qualified education expenses. Returns compound monthly. College costs inflate ~5-6% annually.
Worked Examples
Example 1: Start at age 5
Problem:$5K balance, $300/mo, 6% return, 13 years
Solution:FV ≈ $78K. 4yr cost at 5% inflation ≈ $189K. 41% funded.
Result:~$78K (41% of projected costs)
Frequently Asked Questions
How does a 529 plan affect financial aid eligibility?
A 529 plan owned by a parent is reported on the FAFSA as a parental asset and is assessed at a maximum rate of 5.64% of the account value per year, which has a relatively minor impact on aid eligibility. Distributions from parent-owned 529 plans are not counted as student income on the FAFSA. Grandparent-owned 529 plans previously caused issues but new FAFSA rules starting 2024-2025 no longer count grandparent-owned 529 distributions as student income either.
How do income-driven repayment plans work?
IDR plans cap monthly payments at 10-20% of discretionary income. Options include SAVE, PAYE, IBR, and ICR. Remaining balances are forgiven after 20-25 years of qualifying payments, though forgiven amounts may be taxable.
How does a 529 plan work?
A 529 is a tax-advantaged savings plan for education expenses. Contributions grow tax-free and withdrawals are tax-free for qualified expenses including tuition, room, board, and books. Many states offer additional tax deductions.
What is the standard repayment plan for federal loans?
The standard plan has fixed monthly payments over 10 years. This minimizes total interest paid but has higher monthly payments. Graduated plans start lower and increase every two years over 10 years.
Reviewed for accuracy by Daniel Agrici, Founder & Lead Developer · Editorial policy
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