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Saving for Education With 529 Plans
This chart compares a $10,000 investment in a 529 education savings plan with the same investment made in a taxable account. It assumes an annual return of 6% and a 24% tax rate on the taxable account.
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Anticipating College Costs
This table shows the estimated future cost of four years' tuition at four-year public and private colleges, based on a child's current age. Estimates are based on average total costs (including tuition, fees, and room and board) for the 2024-2025 school year and assume annual increases of 6.0%.
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Charting Future College Costs
College costs have been growing faster than inflation. This chart shows what the total costs might be to send your child to college. It assumes that college costs increase by 6% annually, which is in line with historical growth.
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Comparing the Rise in College Costs With Inflation
During the last 30 years, the average increase in tuition and fees at either a public or private college has generally risen more sharply than the average rate of inflation.
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How Much Do You Need to Save for College?
College costs have been growing faster than inflation. This chart shows what the total costs might be to send your child to college. It assumes that college costs increase by 6% annually, which is in line with historical growth. It also assumes that your college savings will earn 6% annually.
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Rising College Costs Compared With Inflation
As this chart shows, between the 1995-1996 academic year and the 2024-2025 academic year, the average cost of attending a public or private four-year college has almost always risen more sharply than the rate of overall inflation.
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State Tax Deductions for 529 Contributions in the West, Latest Tax Year
This table shows the deductibility of contributions to 529 college savings plans in the West region for the latest tax year (as of January 2025). This should be used as a guideline only, since tax situations vary and the tax laws may change in your state. You should consult with a tax professional to verify that you qualify for a deduction.
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How Much Will You Need to Save for College?
Use this chart to estimate how much you will need to save annually to cover the cost of four years' tuition at public and private colleges. It assumes a rate of return of 6% and a 6% annual increase in college costs. The cost of attendance varies widely from one school to the next. This table uses national averages as an example.
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Rising College Costs
Given the rising cost of a college education, it could cost over $700,000 to send today's newborn to four years of private college by the time he or she turns 18.
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State Tax Deductions for 529 Contributions in the Southeast, Latest Tax Year
This table shows the deductibility of contributions to 529 college savings plans for states in the Southeast region for the latest tax year (as of January 2025). This should be used as a guideline only, since tax situations vary and the tax laws may change in your state. You should consult with a tax professional to verify that you qualify for a deduction.
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State Tax Deductions for 529 Contributions in the Northeast, Latest Tax Year
This table shows the deductibility of contributions to 529 college savings plans for states in the Northeast region for the latest tax year (as of January 2025). This should be used as a guideline only, since tax situations vary and the tax laws may change in your state. You should consult with a tax professional to verify that you qualify for a deduction.
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State Tax Deductions for 529 Contributions in the Midwest, Latest Tax Year
This table shows the deductibility of contributions to 529 college savings plans for states in the Midwest region for the latest tax year (as of January 2025). This should be used as a guideline only, since tax situations vary and the tax laws may change in your state. You should consult with a tax professional to verify that you qualify for a deduction.
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