By Ziv Shay | Updated April 2026
Private University costs an average of $56,500 per year for tuition, fees, room & board in 2026-2027.
Based on 7% annual return in a 529 plan and 5% college cost inflation.
| Child's Age | Years to Save | Projected Total Cost | Monthly Savings |
|---|---|---|---|
| Age 0 | 18 years | $543,896 | $1,263/mo |
| Age 3 | 15 years | $469,838 | $1,482/mo |
| Age 5 | 13 years | $426,157 | $1,682/mo |
| Age 8 | 10 years | $368,130 | $2,127/mo |
| Age 10 | 8 years | $333,905 | $2,605/mo |
| Age 13 | 5 years | $288,440 | $4,029/mo |
With Private University costs projected to reach $543,896 for a child born today, starting early is crucial. A 529 plan is the most efficient vehicle for college savings, offering tax-free growth and tax-free withdrawals for qualified expenses.
If your 529 savings won't cover the full cost, consider these options: federal student loans (subsidized loans don't accrue interest while in school), merit-based scholarships, work-study programs, starting at a community college and transferring, or choosing an in-state public university. Visit studloans.com to compare student loan repayment strategies.
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