The Right Tools to Help You Track Your Future Scholar Savings Progress
When you have long-term savings goals, it’s easy to feel like your momentum is stalling. It can be hard to know if you’re on track, ahead of schedule, or falling behind.
Well, not anymore! We’ve developed a suite of free calculators and interactive tools to help Future Scholar 529 plan holders like you review your contributions and gauge your progress.
Each year mark your calendar for 529 Day, the perfect time to track your contributions and celebrate your progress. Then, decide if your budget will allow you to increase your contribution amount to speed you toward your savings goal. Here’s a brief look at each of our seven interactive tools that will keep you on the right path:
- Want a quick snapshot of where you stand in comparison to your goals? The College Savings Projector gives immediate feedback and suggests ways you can meet your savings goals.
- With the cost of college constantly changing, the World’s Simplest College Savings Calculator is a useful tool for helping you estimate how much you’ll need to save to meet your goals.
- Use the Savings vs. Loans Calculator to see how student loan costs compare to your 529 contributions over time. It provides a simple comparison of how much you would need to contribute monthly versus the amount needed to borrow and pay in loans.
- Discover the tax benefits of 529 contributions by using the 529 State Tax Calculator. It shows your next upfront tax savings, as well as the impact of reinvesting these tax savings over the years.
- Need a little motivation to increase your contributions? The Price of Procrastination Calculator will open your eyes.
- Calculate the amount you should save in order to offset scholarships and/or student loans by using the College Funding Planner.
- If you anticipate needs-based funds, the Quick EFC Calculator will tell you how much you’ll need to contribute before this money becomes available.
Whether you just opened your 529 plan this year or you have a high school student who is preparing for a transition to college, use these tools to refine your plan and reach your goals!
PalmettoBaby on the Way?
If you or someone you know is having a baby soon, remember that Future Scholar celebrates 529 Day with the PalmettoBaby program! All babies born in South Carolina on 5-2-9 Day, May 29, 2021, will be eligible to receive a privately-funded $529 grant to jumpstart their Future Scholar College Savings Plan. You can learn more here!
Happy 529 Day to you! Celebrate your smart decision to save with Future Scholar on May 29, 2021!