Estimate what you need to save
The thought of saving enough money for your student’s higher education can be overwhelming. Long-term savings goals often take a backseat to everyday expenses.
my529, Utah’s educational savings plan, wants to be a resource as you plan ahead to achieve your family’s college savings goals. You can find a helpful College Savings Estimator tool on my529’s website.
my529’s College Savings Estimator can help you visualize how your education expenses might grow over time in a 529 account, no matter the age of your student, and assist you in planning for future expenses.
With this tool, you don’t have to be a financial wizard to figure out when and how much to save to meet your goals—the College Savings Estimator is easy to use and can help do that for you. It is designed to give you individual feedback for the unique savings needs of you and your beneficiary.
The College Savings Estimator allows you to determine savings goals by entering basic information (location, beneficiary’s grade, current savings, and monthly contribution), and then selecting a college or average cost. You can explore multiple possibilities by switching the variables. A great feature of the estimator is that you can save previous scenarios and make different selections as many times as you wish.
Check out the College Savings Estimator today to start making plans for how to achieve your family’s educational goals. To learn more about my529, visit my529.org.