How much should I have saved for college by age 10?

For a public 4-year school, you should have approximately $32,000-$48,000 saved by age 10. For private college, target $65,000-$90,000 depending on your inflation assumptions.

What if I start saving late?

Starting at age 12 instead of birth requires doubling monthly contributions to reach the same goal. It's always worth starting even late — every dollar saved is a dollar not borrowed.

Should I save for college or retirement first?

Financial advisors generally prioritize maxing retirement accounts (especially with employer match) before college savings, since there are no loans for retirement.

College Savings Target by Child Age

Formula Definitions

The College Savings Target by Child Age works by applying a well-defined formula to the values you enter. Understanding the formula behind the calculation helps you interpret the result and check that your inputs are correct. Below we break down the key components that drive the College Savings Target.

The core formula used by this calculator is:

Result = f(inputs, settings)

Each variable in the formula has a specific meaning:

inputs — Values entered into the College Savings Target.
settings — Options, units, or parameters that adjust how the calculation is performed.
Result — Computed output for the chosen inputs and settings.

How to Use This Calculator

Enter the required values. Enter the required values into the College Savings Target by Child Age input fields.

Adjust settings. Adjust any settings, select applicable options, or choose units as needed.

Calculate the result. Press Calculate to compute the result using the underlying formula.

Interpret the output. Review and interpret your result using the provided context, reference ranges, or explanatory notes.

Glossary and Definitions

Input

A value entered into the calculator to be processed.

Output

The computed result returned by the calculator for the given inputs.

Setting

An option that adjusts how the calculation is performed, such as unit selection or mode.

College savings target

A key concept referenced by the College Savings Target: Calculate how much you should have saved for college at each age milestone and monthly contributions needed to reach your target by enrollment.

529 savings by age

A key concept referenced by the College Savings Target: Calculate how much you should have saved for college at each age milestone and monthly contributions needed to reach your target by enrollment.

Education fund milestone

A key concept referenced by the College Savings Target: Calculate how much you should have saved for college at each age milestone and monthly contributions needed to reach your target by enrollment.

College fund goal

A key concept referenced by the College Savings Target: Calculate how much you should have saved for college at each age milestone and monthly contributions needed to reach your target by enrollment.

College Savings Target by Child Age

Formula Definitions

How to Use This Calculator

Glossary and Definitions

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Frequently Asked Questions