How much money does one need in a 529 college plan per 1 year old child to be set for priv. college in 17 yrs?

College tuition increases is often greater than inflation. Like the other poster said, $200 to $250 a month sounds like a decent amount to put aside a month. However, if your child receives a monetary gift, set aside part of it to be contributed to the 529 plan. Upromise.com can contribute even more to the plan 4 times a year. Plus, it is hard to say how the stock market activity will be throughout the next 16 years. The Colorado's 529 is tax deductible on the state income taxes, and it has a limit of $280,000 contribution limit per beneficiary. Good luck!
How much money does one need in a 529 college plan per 1 year old child to be set for priv. college in 17 yrs?
If you are seriously considering private college, you might want to take a look at the independent 529 program. It's a prepaid 529 that allows you to pre-pay tuition at private schools across the country. You won't have to worry about market risk as the program is not an investment, but a prepayment of tuition. Their website is www.independent529plan.org and on there is a calculator that will tell you how much you'd need to invest to cover 100% of tuition at the participating schools. As an example, to cover 100% of tuition at Regis Univesity in CO, you'd need to invest about $1900.00 per month.
Reply:hard to answer with so little information.


Assuming 10,000 annual cost currently, 4 years college, 5% education inflation, 8% investment return %26amp; 0% tax on return, you need to invest $205 per month to meet the goal.





What state you are in? Do you have any specific college in your mind? Let me know if need help.





Good luck
Reply:it couldn't hurt. if you are concerned about having enough, what you could do is also invest in a savings account at your bank that will also gain interest, that way you will have a secondary pool of money to draw on for tuition costs. for a community college, that will be enough money. however, if you are attempting to get them into an four year university, it might be alot more. average tuition for a year at a university is 25,000. this does not include expenses such as room and board or books, or even a computer if he needs one. college is a huge investment, but it appears that you got your head in the right place already. good for you!!