How much will college cost?
Use the calculator below to get an idea of how much you may need so you can set your college savings goals accordingly.
Compare college costs
You can get an idea of how much to prepare for based upon the current costs of college and adjusting for the cost of inflation. Using 2024 tuition, fees and living costs, CollegeTuitionCompare.com compiled a national database of total costs for colleges and different types of schools by state. Their data sources include IPEDS (Integrated Postsecondary Education Data System) and the OPE (U.S. Department of Education—Office of Postsecondary Education).
Source: CollegeTuitionCompare.com, 2024.
Current college costs by state
| State | Tuition | Living Costs | |||
|---|---|---|---|---|---|
| Washington | Public in-state | Public out-of-state | Private | On-campus | Off-campus |
| 108 Schools | $6,437 | $12,983 | $29,062 | $17,959 | $19,749 |
Relevant FAQs
If your child ends up not needing the funds for college, you always have multiple options for your money:
- Your funds can be used to pay for a variety of eligible education expenses, including public or private colleges, universities, community colleges, professional and vocational schools, certain apprenticeship expenses or postgraduate programs in the United States—and even some schools abroad.1
- Your 529 can be used for student loan repayment up to a $10,000 lifetime limit per individual.1
- Up to $10,000 annually can be used toward K-12 tuition (per student).1
- You can transfer the funds to another eligible beneficiary, such as another child, a grandchild or yourself.
- If you just want the money back, you can withdraw the funds at any time. If funds are withdrawn for a purpose other than qualified higher education expenses, the earnings portion of the withdrawal is subject to federal and applicable state taxes plus a 10% additional federal tax on earnings (known as the “Federal Penalty Tax”). See the Program Details Booklet for more information and exceptions.
- Roll over funds to a Roth IRA. Limitations apply.2
- Or you can always wait because the funds never expire, and often the choice to go to school is a delayed decision. So if your child changes their mind down the road, your savings will still be available.
Footnotes
- 1Withdrawals for tuition expenses at a public, private or religious elementary, middle or high school, registered apprenticeship programs and student loan repayment can be withdrawn free from federal income tax. We encourage account owners to consult a qualified tax professional about how these withdrawals relate to their personal situations. Apprenticeship programs must be registered and certified with the Secretary of Labor under the National Apprenticeship Act.↩
- 2Rollovers are permitted from an account to a Roth IRA without incurring federal tax penalties. State tax treatment of a rollover from a 529 plan into a Roth IRA is determined by the state where you file state income tax. There are conditions that must be met, including the 529 plan must have been in existence for at least 15 years.
You should talk to a qualified professional about how tax provisions affect your circumstances.↩
Your contributions will always be yours, and you do not need to be a resident of Washington to open, contribute to or use a WA529 Invest account. Your account can also be used for a range of qualified expenses in state, out of state and abroad. If you move to another state, you can keep your money invested and continue making contributions to your WA529 Invest account—no problem!
No. Your WA529 Invest funds can be used at any eligible university in the country—and even some abroad. This includes public and private colleges and universities, apprenticeships, community colleges, graduate schools and professional schools.1 Up to $10,000 annually can be used toward K-12 tuition (per student).1 In addition, your 529 can be used for student loan repayment up a $10,000 lifetime limit per individual.1 Review a list of qualifying expenses and the state tax treatment of withdrawals for these expenses in the Program Details Booklet.
Footnotes
- 1Withdrawals for tuition expenses at a public, private or religious elementary, middle or high school, registered apprenticeship programs and student loan repayment can be withdrawn free from federal income tax. We encourage account owners to consult a qualified tax professional about how these withdrawals relate to their personal situations.↩
Qualified higher education expenses means, generally, the cost of tuition, fees, books, supplies and equipment required for the enrollment or attendance of a beneficiary at an eligible educational institution, certain costs of housing and food (room and board), the cost of computer or peripheral equipment, certain software, and internet access and related services if used primarily by the beneficiary during any of the years the beneficiary is enrolled at an eligible educational institution, as well as certain additional enrollment and attendance costs of beneficiaries with special needs.
Qualified higher education expenses also include:
(a) tuition in connection with enrollment or attendance at a primary or secondary public, private or religious K-12 school (up to a maximum of $10,000 of distributions per taxable year per beneficiary from all Section 529 programs); (b) expenses for fees, books, supplies and equipment required for the participation of a beneficiary in a certified apprenticeship program; and (c) amounts paid as principal or interest on any qualified education loan of either the beneficiary or a sibling of the beneficiary (up to a lifetime limit of $10,000 per individual). Review the Program Details Booklet for additional information for these expenses. We encourage account owners to consult a qualified tax professional about how these withdrawals relate to their personal situations.
