College Savings: $80K Goal, $5K Saved, $300/Month Over 10 Years
Starting with $5,000 and saving $300 per month at 6% return for 10 years projects to approximately $54,000, showing a gap toward an $80,000 college goal.
How to use this tool
- Enter college savings goal, current savings, monthly contribution, expected annual return and years until enrollment in the fields above.
- Results update instantly as you type — or click Calculate.
- Read your projected balance at enrollment and the full breakdown beneath it.
Parents with 10 years until enrollment can use this calculator to see if $300 per month is enough to reach an $80,000 college savings goal.
Frequently asked questions
- What is a 529 plan?
- A 529 is a tax-advantaged savings plan for education expenses. Contributions are after-tax but growth and qualified withdrawals are federal tax-free.
- What if I overshoot my goal?
- 529 funds can be rolled to a Roth IRA (lifetime limit applies) or used for another family member's education costs.