College Savings Calculator: How Much to Save Each Month
This college savings calculator projects what college will cost when your child enrolls and how much to save each month to pay for it. It starts from 2025-26 average prices and allows for cost inflation, your current savings and investment growth.
Preset costs are 2025-26 U.S. averages of published prices from the College Board, Trends in College Pricing 2025. Type over the amount to use a specific school.
A college savings calculator estimates how much to set aside each month to pay for a future college education. It inflates today's annual cost to the years your child will attend, subtracts what your current savings are expected to grow to, and converts the gap into a level monthly deposit at your assumed investment return.
How the College Savings Calculator Works
- Projects each year of college. Annual cost today × (1 + inflation)years until that year. The first year is inflated by the years until college, the second by one more year, and so on. The years are added to give the total cost.
- Sets the target. Total cost × the share you want to cover. Lower the percentage if you expect grants, scholarships or income to pay part.
- Grows what you already have. Current savings × (1 + r/12)months, where r is your expected annual return.
- Solves for the monthly deposit. Deposit = gap × (r/12) ÷ ((1 + r/12)months − 1), with deposits made at the end of each month.
The whole target is assumed to be saved by the first day of college, so any growth during the college years is a margin of safety. The 7% return is only a starting assumption, not a forecast. No return is guaranteed.
How Much Does College Cost in 2025-26?
The calculator's presets are the average published prices for full-time undergraduates in the College Board's Trends in College Pricing and Student Aid 2025 (Table CP-1 and Figure CP-1).
| Type of college | Tuition and fees | With housing and food | Full student budget |
|---|---|---|---|
| Public two-year, in-district | $4,150 | $15,000 | $21,320 |
| Public four-year, in-state | $11,950 | $25,850 | $30,990 |
| Public four-year, out-of-state | $31,880 | $45,780 | $50,920 |
| Private nonprofit four-year | $45,000 | $60,920 | $65,470 |
The full budget adds books, supplies, transportation and other expenses. These are sticker prices: the College Board estimates that first-time full-time in-state students at public four-year colleges pay an average of $2,300 in net tuition and fees in 2025-26 after grant aid.
From 2024-25 to 2025-26, published tuition and fees rose between 2.7% and 4.0% depending on the sector, and the price with housing and food rose 3.7% to 4.1%. That is why the inflation field starts at 4%. Over the ten years to 2025-26, published tuition and fees fell 7% at public four-year colleges and rose 2% at private nonprofit four-year colleges after adjusting for general inflation, so the old rule of thumb of 5% a year overstates recent increases.
Worked Example: Ten Years Until College
A family has a child starting at an in-state public four-year college in 10 years. They have $10,000 saved, expect a 6% annual return and 4% cost inflation, and want to cover four years in full.
| Step | Calculation | Result |
|---|---|---|
| First-year cost in 10 years | $25,850 × 1.0410 | $38,264 |
| Cost of four years | Years 10 to 13, each 4% higher | $162,488 |
| Current savings at enrollment | $10,000 × 1.005120 | $18,194 |
| Still to fund | $162,488 − $18,194 | $144,294 |
| Monthly saving needed | $144,294 × 0.005 ÷ (1.005120 − 1) | $880 |
Over the ten years the family deposits $105,659 and investment growth supplies the rest.
College Savings Accounts Compared
Where you save matters as much as how much. A 529 plan grows tax free and withdrawals are tax free when used for qualified education expenses; the 529 plan calculator shows how one account grows and what the tax treatment is worth. A Coverdell education savings account works in a similar way but total contributions are limited to $2,000 a year per beneficiary (IRS Publication 970). UGMA and UTMA custodial accounts have no such limit, but the money belongs to the child.
Ownership affects financial aid. In the federal aid formula, a 529 plan held for a dependent student is reported as a parent investment. Parent assets are assessed at no more than about 5.64% (a 12% conversion rate, then at most 47%), while student assets are assessed at 20% (Federal Student Aid Handbook and the Student Aid Index formula).
Impact of Starting Early vs Late
Time does much of the work. Saving $300 a month from birth at a 7% return grows to about $129,216 by age 18, from $64,800 of deposits. Waiting until age 10 leaves only 96 months: reaching the same $129,216 then takes about $1,008 a month, or $96,762 of deposits. The later start costs roughly $32,000 more out of pocket for the same result. Use the calculator above to see how your own timeline changes the monthly amount.
Last updated: October 2026. Sources: College Board, Trends in College Pricing and Student Aid 2025; IRS Publication 970 (2025); Federal Student Aid Handbook 2026-27.
Frequently Asked Questions
How much should I save for college?
It depends on the type of college and how long you have. Using the 2025-26 average of $25,850 a year for an in-state public four-year college, 4% cost inflation, a 6% return and $10,000 already saved, a family with 10 years to go needs about $880 a month to cover four years in full. Enter your own numbers to get your figure.
What is tuition inflation?
Tuition inflation is the yearly rise in college prices. According to the College Board, published tuition and fees rose between 2.7% and 4.0% from 2024-25 to 2025-26, depending on the type of college. The calculator starts at 4% a year and lets you change it.
What is the best account for college savings?
A 529 plan is the most common choice: earnings grow tax free, withdrawals are tax free when used for qualified education expenses, and some states give a deduction or credit for contributions. A Coverdell education savings account is an alternative, limited to $2,000 a year per beneficiary.
When should I start saving for college?
As early as you can. $200 a month from birth at a 7% return grows to about $86,144 by age 18, from $43,200 of deposits. The later you start, the more of the cost has to come from deposits instead of investment growth.
Does saving for college affect financial aid?
Yes, but parent savings count far less than student savings. In the federal aid formula, a 529 plan held for a dependent student is reported as a parent investment. Parent assets are assessed at no more than about 5.64%, while student assets are assessed at 20%.
What if my child does not go to college?
You can change the 529 beneficiary to another member of the family with no income tax, or use the money for trade school, a registered apprenticeship or graduate study. A beneficiary can also roll up to $35,000 over a lifetime from a 529 plan into their own Roth IRA if the account has been open at least 15 years and other IRS conditions are met.
How much does college cost per year?
For 2025-26 the College Board reports average published tuition, fees, housing and food of $25,850 at public four-year colleges for in-state students, $45,780 for out-of-state students, $60,920 at private nonprofit four-year colleges and $15,000 at public two-year colleges. These are sticker prices before grants and scholarships.
How is a college savings calculator different from a 529 plan calculator?
A college savings calculator works backward from the cost: it tells you how much to save each month to reach a target. A 529 plan calculator works forward from your contributions: it shows how one account grows and what the tax treatment is worth. Use both together.