529 Plan Calculator
This calculator will help you learn more about the various savings plans in our region. First, tell us a little bit about yourself and then we'll show you which plan might make the most sense for your family.
Where You Live and Your Filing Status
This will determine how much you can contribute in your jurisdiction each year without having to pay taxes.
Your Maximum In-state, Tax-free Contribution
You can contribute as much as you want, but we’re using this number because it’s the maximum you can deduct from your taxes each year for each child if you’re younger than 70 years old. Anyone older than that can write-off their entire contribution each year.
Years Until College
Select the number of years left until your child starts college. For instance, if your child is three, select 15.
We need to know how much you make so we can calculate how much you would have to pay in taxes if you invest in funds outside your home jurisdiction. NBC4 will not retain any of your personal information and will not share it with anyone.
How Much You Could Save
Below is a customized list of how much you could accumulate in each of the 529 funds available in our region. What do these numbers mean?
|DC||DC College Savings 0-5||5.70%||1.09%||6.71%|
|DC||DC College Savings 06-10||5.30%||1.09%||6.38%|
|DC||DC College Savings 11-13||4.90%||1.05%||6.22%|
|DC||DC College Savings 14-16||3.90%||0.78%||5.28%|
|DC||DC College Savings 17 and Up||5.60%||0.55%||4.06%|
|DC||Calvert Equity - DC 529||6.00%||1.22%||7.66%|
|DC||Calvert International Opportunities - DC 529||6.00%||1.66%||-4.80%|
|DC||Calvert Small Cap||6.00%||1.52%||5.32%|
|DC||State Street Equity Index 500 - DC 529||6.00%||0.46%||7.49%|
|DC||Calvert Income - DC 529||3.00%||1.21%||4.50%|
|DC||Ameritas Principal Plus - DC 529||1.00%||0.15%||3.51%|
|MD||Portfolio For College||3.60%||0.61%||3.16%|
|MD||Global Equity Market Index Portfolio||6.00%||0.50%||6.27%|
|MD||Bond and Income Portfolio||3.00%||0.81%||5.89%|
|MD||Inflation Focused Bond Portfolio||3.00%||0.63%||2.13%|
|MD||US Treasury Money Market Portfolio||1.00%||0.11%||0%|
|VA||Real Estate Inv Trust||6.00%||0.20%||8.16%|
* About This Calculator
The News 4 I-Team created this 529 Plan Calculator with guidance from Dr. James Angel at Georgetown University and other financial experts we consulted, who recommended we use forecasted rates of return based on the type of fund; 6% for equity funds, 3% for bond funds, 1% on money market funds and a weighted combination for mixed allocation funds. You can see the rate of return we used in our calculations in the “Expected Return Rate” column. The equity/bond balance for most mixed allocation funds, however, will change over time, which is why Dr. Angel and others recommend consulting a financial advisor for a more complex comparison on specific plans before you invest. All information about each individual plan’s performance and fees comes from its official 529 government website, which you can see by clicking on the fund’s name. Lifetime Return rates date from September 27, 2016 and are subject to change. For the most up-to-date return information, click on the fund name. Tax rates are calculated using each jurisdiction’s published online tax schedule. We limited the contribution amounts to the tax-free maximum allowed in each jurisdiction. This calculator is meant to be a general resource guide and should not be used as a predictor of actual returns.