529 college savings plans are the most popular way American families save for education. Here’s how balances compare by age and how much you should aim to save.
Average 529 Balance by Beneficiary Age
| Beneficiary Age | Average Balance | Median Balance |
|---|---|---|
| 0–2 | $8,500 | $3,500 |
| 3–5 | $15,000 | $7,000 |
| 6–8 | $21,000 | $11,000 |
| 9–11 | $26,500 | $15,000 |
| 12–14 | $30,000 | $18,000 |
| 15–17 | $33,000 | $20,000 |
| 18+ | $25,000 | $14,000 |
| All ages | $27,500 | $13,500 |
See how your savings can grow with our compound interest calculator to see how the numbers apply to your situation. Open calculator
Balances for 18+ are lower because money is being withdrawn for college expenses.
529 Balance Percentiles
| Percentile | Balance |
|---|---|
| 10th | $1,200 |
| 25th | $5,500 |
| 50th (Median) | $13,500 |
| 75th | $35,000 |
| 90th | $80,000 |
| 95th | $140,000 |
| 99th | $350,000+ |
See also:Average 401(k) Balance by Age (2026 Data)·Average 401(k) Contribution Rate by Age & Income (2026)·Average 401(k) Employer Match in 2026: How Much Companies Contribute
How Much College Actually Costs (2026)
| Institution Type | Annual Cost (Tuition + Room & Board) | 4-Year Total |
|---|---|---|
| In-state public university | $24,000 – $28,000 | $96,000 – $112,000 |
| Out-of-state public university | $42,000 – $48,000 | $168,000 – $192,000 |
| Private university | $55,000 – $65,000 | $220,000 – $260,000 |
| Elite private (Ivy League, etc.) | $80,000 – $90,000 | $320,000 – $360,000 |
| Community college | $8,000 – $12,000 | $16,000 – $24,000 (2 years) |
Savings Goals by College Type
How much to save monthly (starting at birth, assuming 7% annual returns):
| College Type | 4-Year Cost | Monthly from Birth | Monthly from Age 5 | Monthly from Age 10 |
|---|---|---|---|---|
| In-state public | $100,000 | $260 | $395 | $700 |
| Out-of-state public | $175,000 | $455 | $690 | $1,225 |
| Private university | $240,000 | $625 | $945 | $1,680 |
| Elite private | $340,000 | $885 | $1,340 | $2,380 |
| Community college (2yr) | $20,000 | $52 | $79 | $140 |
Starting early makes an enormous difference — the monthly requirement more than doubles when waiting until age 10.
Growth Projections: $250/Month Contributions
| Year | Age at Start | Total Contributed | Portfolio Value (7%) |
|---|---|---|---|
| 5 | Born | $15,000 | $17,900 |
| 10 | Born | $30,000 | $43,400 |
| 15 | Born | $45,000 | $79,200 |
| 18 | Born | $54,000 | $108,500 |
| 10 | Age 8 | $30,000 | $43,400 |
| 8 | Age 10 | $24,000 | $31,200 |
Growth Projections: Lump Sum + Monthly
| Initial Deposit | Monthly Addition | Value at 18 (born, 7%) |
|---|---|---|
| $0 | $250 | $108,500 |
| $5,000 | $200 | $106,600 |
| $10,000 | $150 | $100,800 |
| $25,000 | $100 | $115,000 |
| $50,000 | $0 | $170,000 |
| $50,000 | $250 | $278,500 |
Front-loading (gifting early) leverages compound growth. Five grandparents each contributing $10,000 at birth would grow to $170,000 with no additional contributions.
529 Contribution Limits
| Limit Type | Amount |
|---|---|
| Annual gift tax exclusion (per donor) | $19,000 (2026) |
| 5-year superfunding (per donor) | $95,000 |
| Married couple superfunding | $190,000 |
| Maximum account balance (varies by state) | $235,000 – $575,000 |
Superfunding Example
| Contributors | 5-Year Gift | Day 1 Balance | Value at 18 (7%, child age 0) |
|---|---|---|---|
| One parent | $95,000 | $95,000 | $323,000 |
| Two parents | $190,000 | $190,000 | $647,000 |
| Two parents + two grandparents | $380,000 | $380,000 | $1,294,000 |
Excess 529 Funds: New Options
Thanks to SECURE 2.0, unused 529 funds can now be rolled to a Roth IRA:
| Rule | Detail |
|---|---|
| 529 must be open for 15+ years | Account age requirement |
| Annual rollover limited to Roth IRA contribution limit | $7,000 (2026) |
| Lifetime rollover limit | $35,000 per beneficiary |
| Contributions from last 5 years | Not eligible for rollover |
| Income limits | Do not apply for 529→Roth rollover |
This eliminates much of the risk of “over-saving” in a 529.
State Tax Benefits
| State | Deduction/Credit | Maximum Benefit |
|---|---|---|
| New York | Deduction up to $5,000 ($10,000 joint) | Saves ~$600-$800 |
| Virginia | Deduction up to $4,000/account | Saves ~$200-$400 |
| Colorado | Full deduction | Saves based on contribution |
| Illinois | Deduction up to $10,000 ($20,000 joint) | Saves ~$500-$1,000 |
| Indiana | 20% credit up to $7,500 | Up to $1,500 credit |
| Utah | 4.65% credit on contributions | Meaningful savings |
| Pennsylvania | Deduction up to $19,000/beneficiary | Saves ~$600 |
| Ohio | Deduction up to $4,000/beneficiary | Saves ~$150-$200 |
| States with no income tax | No state tax benefit | Use any state’s plan |
⚠️ Some states only give tax benefits for their own state’s plan. Others (like AZ, KS, MO, PA) allow deductions for any state’s plan.
529 vs Other Education Savings
| Option | Tax Benefits | Flexibility | Best For |
|---|---|---|---|
| 529 Plan | Tax-free growth + state deduction | Education expenses + Roth rollover | Most families |
| Coverdell ESA | Tax-free growth | K-12 + college, max $2,000/year | Supplemental savings |
| Custodial account (UTMA/UGMA) | First $1,250 tax-free | Any purpose (child’s asset at 18-21) | Flexible goals |
| Roth IRA | Tax-free growth | Can withdraw contributions anytime | Dual-purpose (retirement + education) |
| Savings bonds (I/EE) | Tax-free if used for education | Low returns, low limits | Very conservative savers |
Key Takeaways
- Average 529 balance is ~$27,500 — but the median is just $13,500
- In-state public college costs ~$100K for 4 years — $260/month from birth covers it
- Starting at birth vs age 10 more than doubles the monthly saving required
- Superfunding ($95K per donor) leverages early compound growth significantly
- SECURE 2.0 allows $35K lifetime rollover to Roth IRA for unused funds
- State tax deductions can save $200-$1,500/year depending on your state
- The top 10% have $80K+ saved in 529 plans — most families are undersaving
- Any amount helps — even $50/month from birth grows to ~$21,000 by 18