Short answer
At 5% yearly growth, four years at an in-state public college that costs $114,000 today would cost about $274,355 when a newborn enrolls at 18; at 3% it would be about $194,077. To fund the 4% version ($230,943) from birth at a 6% return takes about $596 a month; starting at 10 takes about $1,880.
1. Four-year cost for a newborn (enrolling in 18 years)
Today's annual total costs from the calculator, grown to the enrollment year and multiplied by four:
| Institution type | Today (4 years) | At 3% a year | At 5% a year |
|---|---|---|---|
| In-state public ($28,500/yr) | $114,000 | $194,077 | $274,355 |
| Out-of-state public ($45,000/yr) | $180,000 | $306,438 | $433,191 |
| Private non-profit ($62,000/yr) | $248,000 | $422,203 | $596,842 |
| Elite private ($88,000/yr) | $352,000 | $599,256 | $847,130 |
2. What it takes to save for it
For an in-state public college at 4% yearly growth the four-year cost at 18 is $230,943. Starting from a $0 balance and earning 6%:
| Child's age when you start | Monthly deposit needed |
|---|---|
| Newborn | $596 |
| 5 | $981 |
| 10 | $1,880 |
| 15 | $5,871 |
3. Using this wisely
- These are projections from today's estimates, not forecasts. Growth rates have varied and recent increases have been slower.
- Most families set a coverage target below 100% and combine savings, income, scholarships and aid.
- Revisit the numbers every year as the actual target gets clearer.
Try your own child's age, school type and growth assumption in the 529 College Savings Calculator.
4. Frequently asked questions
How much will college cost in 18 years?expand_more
At 5% yearly growth, four years at an in-state public college costing $114,000 today would be about $274,355; at 3%, about $194,077.
What inflation rate should I use for college costs?expand_more
Use a planning assumption between roughly 3% and 5% and revisit it. College prices have risen faster than general inflation over the long run, but increases have slowed recently.
How much should I save monthly for college?expand_more
For $230,943 (in-state public at 4% growth) with a 6% return, about $596 a month from birth, or about $1,880 a month starting at age 10.
Do I have to save 100% of the cost?expand_more
No. Many families target a share, such as 50% or 75%, and use the calculator's coverage setting to see the monthly amount.