How Much Will My College Savings Grow To?
Whether you're using a 529 plan, a custodial account, or a regular investment account, compound growth makes a real difference over a long savings horizon. This college savings calculator projects your total balance at college age using standard compound interest math.
💡 Quick Summary
Future Value = (current savings compounded monthly) + (monthly contributions compounded monthly), using your expected annual return divided into a monthly rate.
Why Starting Early Matters
Because of compound growth, money saved early has far more time to grow than money saved later — even at the same monthly contribution. Starting at birth instead of age 8 can mean tens of thousands of dollars more by college age, without increasing your monthly contribution at all.
Common College Savings Vehicles
- 529 College Savings Plans: tax-advantaged, growth is tax-free when used for qualified education expenses in most cases.
- Coverdell ESAs: another tax-advantaged option with lower contribution limits.
- Custodial accounts (UTMA/UGMA): more flexible but without the same tax advantages, and the funds become the child's at adulthood.
- Regular brokerage/savings accounts: maximum flexibility, no special tax treatment.
How This Calculator Works
The calculator compounds your current savings monthly at your expected return, and separately compounds your ongoing monthly contributions using the standard future-value-of-an-annuity formula. It also estimates the monthly contribution you'd need — on top of your current savings — to reach a $100,000 total by your target year, as a useful benchmark.
This is a projection based on a constant assumed rate of return; actual investment returns vary year to year and are never guaranteed. Consult a financial advisor for personalized planning.