Document text
College savings plan (529)
What college may cost when your child starts, what your savings grow to, and how much to put in each month
Name: [YOUR NAME]
City and state: [CITY, STATE]
Prepared on: [DATE]
1. Your numbers
What Your number
Child's age today [NUMBER]
Age when college starts [NUMBER]
One year of college at today's prices (tuition, fees, room and board) $ [AMOUNT]
Years of college to pay for [NUMBER]
Share of the cost you want to cover, % [PERCENT]%
How fast college costs rise per year, % [PERCENT]%
Already saved for college (529 or other) $ [AMOUNT]
Expected yearly return on savings, % [PERCENT]%
2. From today's cost to a monthly contribution
Step Result
Years until college starts [RESULT]
One year of college when your child starts [RESULT]
Your savings goal (years × share) [RESULT]
What today's savings grow to [RESULT]
Still to save [RESULT]
Contribution each year [RESULT]
Contribution each month [RESULT]
You put in by the start of college (savings + contributions) [RESULT]
Growth on top [RESULT]
The rules (checked October 21, 2026) • 529 earnings grow federally tax-free; withdrawals for qualified education expenses are tax-free (IRS Pub. 970). • Non-qualified withdrawals: earnings are taxed and usually get a 10% additional tax. • 2026 annual gift exclusion: $19,000 per giver per child — grandparents can help. • Return and cost growth are your assumptions; investments can lose value.
3. Getting started
Done Check
☐ Compare your state's 529 plan (state tax break?) with others
☐ Open the account with the child as beneficiary
☐ Set an automatic monthly contribution for the amount above
☐ Share the gift link with grandparents for birthdays and holidays
☐ Review the plan once a year and after each raise
☐ Keep receipts for tuition, fees, books and housing when you withdraw
A savings plan, not investment or tax advice. Rules from IRS Publication 970, IR-2025-103 and SEC Investor.gov, checked October 21, 2026.