Saving for college or university on Mac, iPhone and iPad.
Becoming a parent changes everything, including what you worry about at 2am. The cost of education is one of the big ones. Banktivity gives you a dedicated tool to plan ahead, track your progress and see exactly whether you are on track — so you can stop worrying and start doing something about it.
The Importance of Starting Early
The best time to start saving for your kid's education was the day your child was born. The second best time is today.
Education costs have risen faster than general inflation for decades. In the US, tuition inflation has averaged around 6% per year over the last 40 years. That means the cost of a four-year degree roughly doubles every 12 years. A school that costs $25,000 a year today could cost $50,000 a year by the time your newborn enrolls.
The math of compounding works powerfully in your favor if you start early. A family that starts saving $350 a month from birth and earns a modest return will arrive at college with dramatically more than a family that starts saving the same amount five years later — even though the monthly contribution is identical.
The overwhelming feeling that comes with new parenthood is real. There is a lot to figure out all at once. But education savings is one of the areas where even a small, consistent start early on compounds into something meaningful. You do not have to have the whole plan figured out. You just have to start.
Tuition inflation is not the same as regular inflation
General inflation runs around 2-3% in normal times. Tuition inflation has historically run at 6% or more. That gap matters enormously over 18 years. A plan that assumes general inflation will significantly underestimate what you actually need. Banktivity defaults to 6% tuition inflation in the education planner, based on the 40-year US average, so your plan starts from a realistic baseline rather than an optimistic one.
See the difference for yourself
Adjust the monthly amounts and start age to see how much earlier saving compounds over 18 years at a 6% annual return.
Banktivity's Education Savings Planner
A real plan, not a savings jar with a label on it.
Banktivity's education savings planner walks you through setting up a complete goal for each child. You tell it who you are saving for, when they start school, how many years they will attend, what you expect school to cost per year and what tuition inflation rate to assume. Banktivity takes that information and calculates exactly how much you need to have saved by the time school starts — accounting for tuition inflation the whole way.
Then it connects that goal to the actual accounts you are saving in. Every contribution you make flows into the plan automatically. The goal chart shows your actual savings versus your target trajectory over time, so you can see at a glance whether you are ahead, behind or on track. Your next scheduled contribution amount and date are shown so nothing slips through the cracks.
Accounts for contributions made during school
Most savings calculators assume you stop contributing when school starts. Banktivity's planner knows you may keep contributing during the school years — particularly if you have a 529 or other investment account still growing while tuition bills are being paid. The goal calculation accounts for this, giving you a more accurate picture of what you actually need to set aside before school begins.
Plan for each child separately
If you have more than one child, you can create a separate education savings goal for each one. Each goal connects to its own accounts, has its own start date and its own cost assumptions. You can also create multiple goals for the same child if they plan to attend more than one school — undergraduate and then graduate school, for example. Each goal stays separate and tracks independently.
Plan for college, university or any kind of school
The planner is not limited to four-year colleges. You can set it up for community college, trade school, graduate school, medical school or any other educational path. Enter the expected cost per year and the number of years and Banktivity handles the rest. If the plan changes — your child decides on a different school or a different path — you can update the goal at any time.
529s, RESPs and Other Education Accounts
Whatever account type makes sense for your situation, Banktivity can track it.
Banktivity is used by families in the US, Canada, the UK, Australia and beyond. The right account type for education savings depends on where you live — but the goal of setting money aside specifically for education, connecting it to a plan and watching it grow is universal.
529 plans in the US
A 529 is a tax-advantaged savings account specifically designed for education expenses in the United States. Contributions grow tax-free and withdrawals for qualified education expenses are also tax-free. Banktivity supports 529 accounts as a dedicated account type, so your 529 balance flows directly into your education savings goal and the goal chart reflects your actual progress. If you are saving for college in the US and you do not have a 529 yet, it is worth looking into — the tax advantages are substantial over an 18-year savings horizon.
RESPs in Canada
Canadian families saving for education typically use a Registered Education Savings Plan. Like a 529, an RESP offers tax-sheltered growth and the Canadian government adds grant money through the Canada Education Savings Grant. Banktivity supports Canadian account types including RESP, and Canadian families can connect their RESP directly to their education savings goal the same way US families connect a 529.
ISAs and other accounts
UK and Australian families can use Banktivity's education savings goal with whatever account type they are saving in — a Stocks and Shares ISA in the UK, a standard investment account in Australia or any other account. The goal is account-agnostic. You connect whichever accounts you are using for education savings and Banktivity tracks them all toward the goal.
Check Your Progress on Any Device
Your education savings goal travels with you.
Banktivity's education savings planner is available on Mac, iPhone and iPad. Set up your goal on Mac and check your progress from your iPhone. See how all your goals — education, retirement and others — are tracking from your iPad. End-to-end encrypted sync keeps everything current across all your devices automatically.
The education savings goal also sits alongside your budget, your investment portfolio and your net worth in the same app. You are not managing education savings in a separate tool while your budget lives somewhere else. Everything is connected, and that connection matters — because what you spend today affects what you can save for tomorrow. For the full picture of everything Banktivity offers, see our personal finance software for Mac overview, or learn more about our personal finance app for iPhone and iPad.
Frequently Asked Questions
Does Banktivity have a college savings planner?
Yes. Banktivity includes a dedicated education savings planner that lets you set a goal for each child, model tuition inflation, connect the goal to your actual savings accounts and track progress over time on Mac, iPhone and iPad. It is available on Silver and Gold plans.
Can Banktivity track a 529 account?
Yes. Banktivity supports 529 accounts as a dedicated account type. Your 529 balance connects directly to your education savings goal and the goal chart reflects your actual progress toward your target. If you are saving for college in the US, a 529 is one of the most tax-efficient ways to do it, and Banktivity tracks it natively.
Can I set up separate goals for each of my children?
Yes. You can create an independent education savings goal for each child, each connected to its own accounts with its own target date and cost assumptions. You can also create multiple goals for the same child — one for undergraduate and one for graduate school, for example — and each tracks separately.
How does Banktivity account for tuition inflation?
When you set up an education savings goal you enter an expected tuition inflation rate. Banktivity defaults to 6%, based on the 40-year US historical average for school tuition. The goal calculation applies that inflation rate to your estimated cost per year to show you what you will actually need by the time your child starts school — not just what it costs today.
Can I exclude scholarships and loans from my plan?
Yes. When you enter your estimated cost per year, Banktivity suggests entering only the portion you plan to pay yourself. If you expect scholarships, grants or loans to cover part of the cost, leave those out of your yearly total so the goal reflects only what you need to save.
Does Banktivity support education savings accounts outside the US?
Yes. Canadian families can track RESP accounts in Banktivity and connect them directly to an education savings goal. UK and Australian families can use any account type — the education savings goal is not limited to US account types. Banktivity supports multi-currency accounts so whatever currency you are saving in is handled correctly.
Is the education savings planner available on iPhone and iPad?
Yes. You can set up, manage and view your education savings goals on Mac, iPhone and iPad. Everything stays in sync automatically through Banktivity's end-to-end encrypted cloud sync.
Which Banktivity plan includes the college savings planner?
The education savings planner is available on Silver and Gold plans. Bronze includes the core budgeting and reporting features but not the goal planning tools.
Is it too late to start saving if my child is already several years old?
It is never too late to start. Starting later means you need to save more each month to reach the same goal, but having a plan is always better than not having one. Banktivity's planner will show you exactly what monthly contribution you need to get on track from wherever you are starting — whether your child is a newborn or already in middle school.