Free 529 calculator
See how many years your 529 pays for, with real costs for 1,900 colleges
Pick your colleges, add your 529 info, and open it all as a free Google Sheet. Then use Shoeboxed to track every 529 receipt and get the most tax savings.
Step 1: Pick up to 3 colleges
Pick a college first. Then your plan is ready.
What each college costs for one year
These are the prices each college reported to the U.S. Department of Education for the 2025-26 school year.
| One year, 2025-26 | Caldwell University | Rutgers, in-state | Rutgers, out-of-state | NYU | 529 can pay? |
|---|---|---|---|---|---|
| Tuition and fees | $42,470 | $18,824 | $39,649 | $65,622 | Yes |
| Books and supplies | $1,000 | $1,446 | $1,446 | $1,470 | Yes |
| Room and board | $14,756 | $16,720 | $16,720 | $24,376 | Up to this number |
| Other expenses (trips home, a car, clothes, and personal costs) | $3,700 | $4,548 | $4,548 | $4,380 | No |
| Price before discounts and aid | $61,926 | $41,538 | $62,363 | $95,848 | |
| Average discount at this college (2024-25) | −$38,014 | −$11,199 | −$11,199 | −$50,837 |
You will probably pay less than these prices
- ✓These are sticker prices. They leave out scholarships, grants, and discounts.
- ✓The average discount is a starting point. It is what first-year, full-time students at that college got off the price, on average. It adds up grants and scholarships from the federal government, the state, and the college. Loans do not count. It counts only students who got federal aid, and it comes from the U.S. Department of Education.
- ✓Ask each college what it offers. Your discount depends on family income, grades, and each college's own programs. Some colleges match the tuition of your home state.
Step 2: Add your 529 numbers
More options
The results show how much to save each month to pay for every year.
Your 529 statement shows it. We use it for the tax if you take leftover money out.
Our guess. Most plans move to safer funds as college gets close.
College Board prices grew 2.8% to 3.3% a year from 2015 to 2025.
The S&P 500 grew 11% a year from 2006 through 2025.
The Roth IRA moves start that year.
Step 3: See how many years your 529 pays for
Get your plan as a free Google Sheet
Change the monthly deposit in the sheet, and every year updates.
College costs are the 2025-26 numbers each college reported to the U.S. Department of Education (College Scorecard). Rates checked October 15, 2026. This is a plan, not tax advice.
What a 529 pays for, and what it does not
This list comes from IRS Publication 970 (2025), chapter 7. Room and board needs at least a half-time course load, and it stops at the college's own room and board number. The cost table above shows that number for each college you pick.
| Expense | Can the 529 pay? | Track receipts with Shoeboxed |
|---|---|---|
| Tuition and required fees | ✓Yes | ✓Yes |
| Required books and supplies | ✓Yes | ✓Yes |
| Laptop and internet used mainly for school | ✓Yes | ✓Yes |
| Dorm or rent | ✓Yes, up to the cap | ✓Yes |
| Utilities | ✓Yes, up to the cap | ✓Yes |
| Meal plan or groceries | ✓Yes, up to the cap | ✓Yes |
| Meals out | ✓Yes, up to the cap | ✓Yes |
| Beer or a bar tab | At your own risk | ✓Yes |
| Other people's food or bar tab | ✕No | ✕No |
| Clothes | ✕No | ✕No |
| Trips home (gas, flights, bus) | ✕No | ✕No |
| Car, parking, car insurance | ✕No | ✕No |
Track every 529 receipt in Shoeboxed and know how much to take out each year (and keep the IRS happy)
Every dollar you take out of a 529 needs a receipt.
Your 529 plan reports what you take out to the IRS on Form 1099-Q. If the IRS asks, your receipts prove the money paid for school. Without them, you pay income tax plus a 10% penalty on the growth.
“At the end of the year, I use the Shoeboxed reporting (which is great) to see how much I should pull from the 529 to reimburse myself. (and I retain the reports in case the IRS wants to see backup)”
This Certified Financial Planner has a daughter in college. Here is how he runs it.
-
Step 1
His daughter pays
Rent, groceries, books, or a laptop
-
Step 2
She sends him the receipt
A photo or an email
-
Step 3
He files it in Shoeboxed
Shoeboxed reads the store, the date, and the total. He picks one of his 529 categories.
- Tuition
- Books
- Room and board
- Computer
-
Step 4
He pays her back
Only after the receipt comes in, so the receipts come in fast
-
Step 5
The report adds it up
At the end of the year, Shoeboxed totals each category
-
Step 6
He takes that much out of the 529
And keeps the report in case the IRS asks
He has 2 children, so he puts each child's initials in the category names. Then each report shows one child.
Shoeboxed has scanned and organized receipts since 2007, from our office in North Carolina. Try any plan for 30 days, and if it is not for you, we give your money back.
Money left over in your 529? You have 3 options, and 2 of them have no tax
Here is how a 529 works. You put money in, and it grows with no tax. Each year of college, the 529 pays that year's school bills first, and the rest keeps growing. After the last bill, whatever is left is still yours. You can use it in one of 3 ways.
Option 1: Give it to a brother, sister, or other family member
Change the name on the 529 to someone else in the family, and they use it for their own school costs. There is no tax and no penalty. The new name can be a brother or sister, a first cousin, a parent, or another family member on the IRS list in Publication 970.
Option 2: Take the money out
You can take the money out and spend it on anything. The money you put in comes back with no tax. You pay income tax plus a 10% penalty on the growth part only.
If the student got a tax-free scholarship, you can take out up to that amount with no 10% penalty. You still pay income tax on the growth part.
Option 3: Move up to $35,000 into a Roth IRA with no tax
Say $35,000 is left after graduation at age 22. It moves $7,500 a year for 4 years, then $5,000 in year 5. At 10% a year, that Roth IRA is worth about $1.7 million at age 65.
The S&P 500 grew about 11% a year from 2006 through 2025, with dividends reinvested (S&P Dow Jones Indices). We start at 10% to allow for fund fees. Past returns do not promise future ones.
Since 2024, leftover 529 money can move into a Roth IRA in the same name as the 529, with no tax and no penalty. Here are the rules.
- ✓The 529 must be open more than 15 years.
- ✓Money put in during the last 5 years can't move.
- ✓Up to $7,500 can move each year in 2026. That is the yearly Roth IRA limit.
- ✓Each year's move can't be bigger than that year's pay from work.
- ✓The lifetime total is $35,000.
- ✓Your 529 plan sends the money straight to the Roth IRA.
Money past the $35,000 can still go to a family member (option 1) or come out (option 2).
What your leftover 529 money can grow to in a Roth IRA
Moves into the Roth IRA:
That Roth IRA at age 65:
Answers to common 529 questions from parents
Tuition and the fees the school requires, required books and supplies, and a computer and internet used mainly for school. Room and board counts too, with at least a half-time course load. A 529 cannot pay for travel, clothes, a car, or personal costs. The full list is in IRS Publication 970, chapter 7.
Rates checked October 15, 2026. Sources: