🎓 529 College Savings Plan Calculator

How 529 Plans Work

A 529 plan is a tax-advantaged savings account designed for education expenses. Your contributions grow tax-deferred, and withdrawals are completely federal-tax-free when used for qualified expenses like tuition, fees, room and board, and required books. There is no federal contribution limit — each state sets its own aggregate lifetime limit per beneficiary, which is typically high enough (often well over $200,000) that it rarely constrains a normal savings plan.

Frequently Asked Questions

What if my child doesn't go to college?
You can change the beneficiary to another family member (including yourself), use the funds for eligible K-12 tuition or apprenticeship programs, or — under recent rules — roll over up to a lifetime limit into a Roth IRA for the beneficiary, subject to conditions. Non-qualified withdrawals are taxed on the earnings portion plus a 10% penalty.

Does my state offer a tax deduction?
Many states offer an income tax deduction or credit for contributions to their own 529 plan (rules vary widely by state). This calculator shows federal-level growth only and does not model state tax benefits.