College savings planner calculator code#

In tracking the amount of funds that you have available to fund college, the tool considers the current value of the account or accounts that you assigned to fund your college for your dependents and the investment horizon. The tool uses a hypothetical 5% average annual rate of return to estimate your future returns and not a Monte Carlo simulation. The actual amount of the cost for college may be different from the estimates that the tool uses. The tool attempts to determine the costs associated with college and applies an estimate of future cost increases. TIAA-CREF Tuition Financing, Inc., the States and their agencies are not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by this tool and are not responsible for any human or mechanical errors or omissions.The college savings tool on this website is offered to assist you with determining the approximate costs associated with college tuition for your dependents. Account value will fluctuate based upon a number of factors, including general financial market conditions. Investments in a 529 Plan are neither insured nor guaranteed and there is the risk of investment loss. Non-qualified withdrawals may be subject to federal and state taxes and the additional federal 10% tax. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor. In some states with income taxes, the 529 tax savings may differ from the state income tax rate. The tax information contained herein is not intended to be used, and cannot be used, by any taxpayer for the purpose of avoiding tax penalties. Read it carefully.īefore investing in a 529 plan, consider whether the state where you or your Beneficiary resides has a 529 plan that offers favorable state tax benefits that are available if you invest in that state's 529 plan. Contact 1-80 for a Plan Description containing this and more information.

If these fees had been reflected, any growth of the total contribution during the same investment period would have been lower.īefore investing in a 529 plan, consider the investment objectives, risks, charges and expenses. The calculations do not reflect management, administrative and other fees associated with 529 plans. You may want to consult with a qualified advisor before making an investment. As your financial situation changes, you should review your investment goals, time period for college investing, and personal financial situation and reassess whether you are investing enough to meet your college savings goals. These calculations do not constitute investment advice.

College savings planner calculator code#

There may be limitations or restrictions on eligibility for tax benefits depending on the tax code in your state of residency. The calculator takes into account tax variables based upon what you select. Investments which seek to achieve higher rates of return are more volatile and involve a higher degree of risk. Any hypothetical rate of return used does not reflect actual performance or predict future results of the program. The results presented are hypothetical illustrations and may not reflect the actual growth, if any, of your investment in a particular 529 plan. ✖ Important Information About Your Calculations