Texas 529 College Savings Calculator
Calculate 529 college savings growth in Texas. No state income tax. See projected savings and tax benefits.
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Additional Details
Projected 529 Balance
Estimated • Based on your inputs
Total College Cost
$107,753.00
Detailed Breakdown
Disclaimer: This calculator provides estimates for informational purposes only. Results should not be considered financial, tax, or legal advice. Consult a qualified professional for your specific situation.
How This Calculator Works
Calculation methodology and assumptions
529 plan calculator for Texas residents. Projections use compound interest with monthly contributions. Texas has no state income tax, so 529 contributions don't provide a state tax deduction — but federal tax-free growth still applies. Federal benefit: earnings grow tax-free and withdrawals for qualified education expenses are tax-free. Annual 529 gift tax exclusion: $19,000/person ($38,000 for couples) without gift tax implications. Superfunding allows 5 years of gifts upfront ($95,000/$190,000). This calculator does not model a dollar state-tax-savings figure for Texas (see note above), so "State Tax Savings/Year" is $0.
Key State Information
Texas 529 plan facts: Texas has no state income tax, so 529 contributions don't provide a state tax deduction — but federal tax-free growth still applies. Median household income: $79,721 | COL index: 90.7. 529 funds can be used for tuition, room & board, textbooks, and K-12 tuition (up to $10,000/yr).
Example Calculation
Let's plan college savings for a newborn in Texas.
Goal: fund 4 years at an in-state public university. Current cost: $27,000/year × 4 = $108,000. With 4% annual cost inflation over 18 years, projected cost: ~$218,000. Using a 529 plan with 7% average annual return, investing from birth.
Result: Required monthly contribution: ~$530/month from birth. If you wait until the child is 5, the monthly contribution jumps to ~$835. Starting early makes a dramatic difference. Additionally, Texas offer a state income tax deduction for 529 contributions — saving 3-10% immediately on contributions. Some states allow up to $10,000/year in deductible contributions per beneficiary.
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StateCalc Team
Editorial Team
The StateCalc team builds free financial calculators using data from official government sources including the IRS, U.S. Census Bureau, BLS, and state revenue departments. All formulas are validated by an automated test suite and cross-referenced against published data.
Our editorial standardsFrequently Asked Questions
Does Texas offer a 529 tax deduction?
Texas has no state income tax, so 529 contributions don't provide a state tax deduction — but federal tax-free growth still applies.
How much should I save in a 529 plan in Texas?
With average in-state tuition around $10,000-$15,000/year and total costs (including room/board) of $20,000-$35,000/year, aim to save at least 50-75% of projected total costs. Starting early with $200-$500/month can reach $50,000-$100,000 over 10-15 years.
What happens to unused 529 funds?
As of 2024, unused 529 funds (open 15+ years) can be rolled into a Roth IRA for the beneficiary, up to $35,000 lifetime. You can also change the beneficiary to another family member, or use funds for graduate school.
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