Savings Plan and Future Cost Estimation for Hendrix College

How much will it cost and what do you need to save?

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$197,713
Monthly savings required$1,563

How much will it cost to send your child to Hendrix College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $790,853.44 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,562.58 into a 529 or other college savings plan earning and after tax or tax exempt return of 7% will be necessary to achieve this balance.

Assumptions

Current Annual Cost$52,700.00
Years until enrollment18
Annual Tuition Increase7%
Current Savings$0.00
After Tax Return on Savings7%
Years of enrollment4

Current Savings Shortfall

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Planned Savings Balance

College Savings Schedule

Month Begin Deposit Withdraw Interest End
1 $0.00 $1,562.58 $0.00 $0.00 $1,562.58
2 $1,562.58 $1,562.58 $0.00 $8.84 $3,134.00
3 $3,134.00 $1,562.58 $0.00 $17.72 $4,714.30
4 $4,714.30 $1,562.58 $0.00 $26.66 $6,303.54
5 $6,303.54 $1,562.58 $0.00 $35.64 $7,901.76
6 $7,901.76 $1,562.58 $0.00 $44.68 $9,509.02
7 $9,509.02 $1,562.58 $0.00 $53.77 $11,125.37
8 $11,125.37 $1,562.58 $0.00 $62.90 $12,750.85
9 $12,750.85 $1,562.58 $0.00 $72.10 $14,385.53
10 $14,385.53 $1,562.58 $0.00 $81.34 $16,029.45
11 $16,029.45 $1,562.58 $0.00 $90.63 $17,682.66
12 $17,682.66 $1,562.58 $0.00 $99.98 $19,345.22
13 $19,345.22 $1,562.58 $0.00 $109.38 $21,017.18
14 $21,017.18 $1,562.58 $0.00 $118.83 $22,698.59
15 $22,698.59 $1,562.58 $0.00 $128.34 $24,389.51
16 $24,389.51 $1,562.58 $0.00 $137.90 $26,089.99
17 $26,089.99 $1,562.58 $0.00 $147.52 $27,800.09
18 $27,800.09 $1,562.58 $0.00 $157.19 $29,519.86
19 $29,519.86 $1,562.58 $0.00 $166.91 $31,249.35
20 $31,249.35 $1,562.58 $0.00 $176.69 $32,988.62
21 $32,988.62 $1,562.58 $0.00 $186.52 $34,737.72
22 $34,737.72 $1,562.58 $0.00 $196.41 $36,496.71
23 $36,496.71 $1,562.58 $0.00 $206.36 $38,265.65
24 $38,265.65 $1,562.58 $0.00 $216.36 $40,044.59
25 $40,044.59 $1,562.58 $0.00 $226.42 $41,833.59
26 $41,833.59 $1,562.58 $0.00 $236.53 $43,632.70
27 $43,632.70 $1,562.58 $0.00 $246.71 $45,441.99
28 $45,441.99 $1,562.58 $0.00 $256.94 $47,261.51
29 $47,261.51 $1,562.58 $0.00 $267.22 $49,091.31
30 $49,091.31 $1,562.58 $0.00 $277.57 $50,931.46
31 $50,931.46 $1,562.58 $0.00 $287.97 $52,782.01
32 $52,782.01 $1,562.58 $0.00 $298.44 $54,643.03
33 $54,643.03 $1,562.58 $0.00 $308.96 $56,514.57
34 $56,514.57 $1,562.58 $0.00 $319.54 $58,396.69
35 $58,396.69 $1,562.58 $0.00 $330.18 $60,289.45
36 $60,289.45 $1,562.58 $0.00 $340.89 $62,192.92
37 $62,192.92 $1,562.58 $0.00 $351.65 $64,107.15
38 $64,107.15 $1,562.58 $0.00 $362.47 $66,032.20
39 $66,032.20 $1,562.58 $0.00 $373.36 $67,968.14
40 $67,968.14 $1,562.58 $0.00 $384.30 $69,915.02
41 $69,915.02 $1,562.58 $0.00 $395.31 $71,872.91
42 $71,872.91 $1,562.58 $0.00 $406.38 $73,841.87
43 $73,841.87 $1,562.58 $0.00 $417.51 $75,821.96
44 $75,821.96 $1,562.58 $0.00 $428.71 $77,813.25
45 $77,813.25 $1,562.58 $0.00 $439.97 $79,815.80
46 $79,815.80 $1,562.58 $0.00 $451.29 $81,829.67
47 $81,829.67 $1,562.58 $0.00 $462.68 $83,854.93
48 $83,854.93 $1,562.58 $0.00 $474.13 $85,891.64
49 $85,891.64 $1,562.58 $0.00 $485.64 $87,939.86
50 $87,939.86 $1,562.58 $0.00 $497.22 $89,999.66
51 $89,999.66 $1,562.58 $0.00 $508.87 $92,071.11
52 $92,071.11 $1,562.58 $0.00 $520.58 $94,154.27
53 $94,154.27 $1,562.58 $0.00 $532.36 $96,249.21
54 $96,249.21 $1,562.58 $0.00 $544.21 $98,356.00
55 $98,356.00 $1,562.58 $0.00 $556.12 $100,474.70
56 $100,474.70 $1,562.58 $0.00 $568.10 $102,605.38
57 $102,605.38 $1,562.58 $0.00 $580.15 $104,748.11
58 $104,748.11 $1,562.58 $0.00 $592.26 $106,902.95
59 $106,902.95 $1,562.58 $0.00 $604.44 $109,069.97
60 $109,069.97 $1,562.58 $0.00 $616.70 $111,249.25
61 $111,249.25 $1,562.58 $0.00 $629.02 $113,440.85
62 $113,440.85 $1,562.58 $0.00 $641.41 $115,644.84
63 $115,644.84 $1,562.58 $0.00 $653.87 $117,861.29
64 $117,861.29 $1,562.58 $0.00 $666.40 $120,090.27
65 $120,090.27 $1,562.58 $0.00 $679.01 $122,331.86
66 $122,331.86 $1,562.58 $0.00 $691.68 $124,586.12
67 $124,586.12 $1,562.58 $0.00 $704.43 $126,853.13
68 $126,853.13 $1,562.58 $0.00 $717.25 $129,132.96
69 $129,132.96 $1,562.58 $0.00 $730.14 $131,425.68
70 $131,425.68 $1,562.58 $0.00 $743.10 $133,731.36
71 $133,731.36 $1,562.58 $0.00 $756.14 $136,050.08
72 $136,050.08 $1,562.58 $0.00 $769.25 $138,381.91
73 $138,381.91 $1,562.58 $0.00 $782.43 $140,726.92
74 $140,726.92 $1,562.58 $0.00 $795.69 $143,085.19
75 $143,085.19 $1,562.58 $0.00 $809.02 $145,456.79
76 $145,456.79 $1,562.58 $0.00 $822.43 $147,841.80
77 $147,841.80 $1,562.58 $0.00 $835.92 $150,240.30
78 $150,240.30 $1,562.58 $0.00 $849.48 $152,652.36
79 $152,652.36 $1,562.58 $0.00 $863.12 $155,078.06
80 $155,078.06 $1,562.58 $0.00 $876.83 $157,517.47
81 $157,517.47 $1,562.58 $0.00 $890.63 $159,970.68
82 $159,970.68 $1,562.58 $0.00 $904.50 $162,437.76
83 $162,437.76 $1,562.58 $0.00 $918.45 $164,918.79
84 $164,918.79 $1,562.58 $0.00 $932.47 $167,413.84
85 $167,413.84 $1,562.58 $0.00 $946.58 $169,923.00
86 $169,923.00 $1,562.58 $0.00 $960.77 $172,446.35
87 $172,446.35 $1,562.58 $0.00 $975.04 $174,983.97
88 $174,983.97 $1,562.58 $0.00 $989.38 $177,535.93
89 $177,535.93 $1,562.58 $0.00 $1,003.81 $180,102.32
90 $180,102.32 $1,562.58 $0.00 $1,018.32 $182,683.22
91 $182,683.22 $1,562.58 $0.00 $1,032.92 $185,278.72
92 $185,278.72 $1,562.58 $0.00 $1,047.59 $187,888.89
93 $187,888.89 $1,562.58 $0.00 $1,062.35 $190,513.82
94 $190,513.82 $1,562.58 $0.00 $1,077.19 $193,153.59
95 $193,153.59 $1,562.58 $0.00 $1,092.12 $195,808.29
96 $195,808.29 $1,562.58 $0.00 $1,107.13 $198,478.00
97 $198,478.00 $1,562.58 $0.00 $1,122.22 $201,162.80
98 $201,162.80 $1,562.58 $0.00 $1,137.40 $203,862.78
99 $203,862.78 $1,562.58 $0.00 $1,152.67 $206,578.03
100 $206,578.03 $1,562.58 $0.00 $1,168.02 $209,308.63
101 $209,308.63 $1,562.58 $0.00 $1,183.46 $212,054.67
102 $212,054.67 $1,562.58 $0.00 $1,198.99 $214,816.24
103 $214,816.24 $1,562.58 $0.00 $1,214.60 $217,593.42
104 $217,593.42 $1,562.58 $0.00 $1,230.30 $220,386.30
105 $220,386.30 $1,562.58 $0.00 $1,246.10 $223,194.98
106 $223,194.98 $1,562.58 $0.00 $1,261.98 $226,019.54
107 $226,019.54 $1,562.58 $0.00 $1,277.95 $228,860.07
108 $228,860.07 $1,562.58 $0.00 $1,294.01 $231,716.66
109 $231,716.66 $1,562.58 $0.00 $1,310.16 $234,589.40
110 $234,589.40 $1,562.58 $0.00 $1,326.40 $237,478.38
111 $237,478.38 $1,562.58 $0.00 $1,342.74 $240,383.70
112 $240,383.70 $1,562.58 $0.00 $1,359.16 $243,305.44
113 $243,305.44 $1,562.58 $0.00 $1,375.68 $246,243.70
114 $246,243.70 $1,562.58 $0.00 $1,392.30 $249,198.58
115 $249,198.58 $1,562.58 $0.00 $1,409.01 $252,170.17
116 $252,170.17 $1,562.58 $0.00 $1,425.81 $255,158.56
117 $255,158.56 $1,562.58 $0.00 $1,442.70 $258,163.84
118 $258,163.84 $1,562.58 $0.00 $1,459.70 $261,186.12
119 $261,186.12 $1,562.58 $0.00 $1,476.78 $264,225.48
120 $264,225.48 $1,562.58 $0.00 $1,493.97 $267,282.03
121 $267,282.03 $1,562.58 $0.00 $1,511.25 $270,355.86
122 $270,355.86 $1,562.58 $0.00 $1,528.63 $273,447.07
123 $273,447.07 $1,562.58 $0.00 $1,546.11 $276,555.76
124 $276,555.76 $1,562.58 $0.00 $1,563.69 $279,682.03
125 $279,682.03 $1,562.58 $0.00 $1,581.36 $282,825.97
126 $282,825.97 $1,562.58 $0.00 $1,599.14 $285,987.69
127 $285,987.69 $1,562.58 $0.00 $1,617.02 $289,167.29
128 $289,167.29 $1,562.58 $0.00 $1,634.99 $292,364.86
129 $292,364.86 $1,562.58 $0.00 $1,653.07 $295,580.51
130 $295,580.51 $1,562.58 $0.00 $1,671.26 $298,814.35
131 $298,814.35 $1,562.58 $0.00 $1,689.54 $302,066.47
132 $302,066.47 $1,562.58 $0.00 $1,707.93 $305,336.98
133 $305,336.98 $1,562.58 $0.00 $1,726.42 $308,625.98
134 $308,625.98 $1,562.58 $0.00 $1,745.02 $311,933.58
135 $311,933.58 $1,562.58 $0.00 $1,763.72 $315,259.88
136 $315,259.88 $1,562.58 $0.00 $1,782.53 $318,604.99
137 $318,604.99 $1,562.58 $0.00 $1,801.44 $321,969.01
138 $321,969.01 $1,562.58 $0.00 $1,820.46 $325,352.05
139 $325,352.05 $1,562.58 $0.00 $1,839.59 $328,754.22
140 $328,754.22 $1,562.58 $0.00 $1,858.82 $332,175.62
141 $332,175.62 $1,562.58 $0.00 $1,878.17 $335,616.37
142 $335,616.37 $1,562.58 $0.00 $1,897.62 $339,076.57
143 $339,076.57 $1,562.58 $0.00 $1,917.19 $342,556.34
144 $342,556.34 $1,562.58 $0.00 $1,936.86 $346,055.78
145 $346,055.78 $1,562.58 $0.00 $1,956.65 $349,575.01
146 $349,575.01 $1,562.58 $0.00 $1,976.55 $353,114.14
147 $353,114.14 $1,562.58 $0.00 $1,996.56 $356,673.28
148 $356,673.28 $1,562.58 $0.00 $2,016.68 $360,252.54
149 $360,252.54 $1,562.58 $0.00 $2,036.92 $363,852.04
150 $363,852.04 $1,562.58 $0.00 $2,057.27 $367,471.89
151 $367,471.89 $1,562.58 $0.00 $2,077.74 $371,112.21
152 $371,112.21 $1,562.58 $0.00 $2,098.32 $374,773.11
153 $374,773.11 $1,562.58 $0.00 $2,119.02 $378,454.71
154 $378,454.71 $1,562.58 $0.00 $2,139.84 $382,157.13
155 $382,157.13 $1,562.58 $0.00 $2,160.77 $385,880.48
156 $385,880.48 $1,562.58 $0.00 $2,181.82 $389,624.88
157 $389,624.88 $1,562.58 $0.00 $2,203.00 $393,390.46
158 $393,390.46 $1,562.58 $0.00 $2,224.29 $397,177.33
159 $397,177.33 $1,562.58 $0.00 $2,245.70 $400,985.61
160 $400,985.61 $1,562.58 $0.00 $2,267.23 $404,815.42
161 $404,815.42 $1,562.58 $0.00 $2,288.89 $408,666.89
162 $408,666.89 $1,562.58 $0.00 $2,310.66 $412,540.13
163 $412,540.13 $1,562.58 $0.00 $2,332.56 $416,435.27
164 $416,435.27 $1,562.58 $0.00 $2,354.59 $420,352.44
165 $420,352.44 $1,562.58 $0.00 $2,376.73 $424,291.75
166 $424,291.75 $1,562.58 $0.00 $2,399.01 $428,253.34
167 $428,253.34 $1,562.58 $0.00 $2,421.41 $432,237.33
168 $432,237.33 $1,562.58 $0.00 $2,443.93 $436,243.84
169 $436,243.84 $1,562.58 $0.00 $2,466.59 $440,273.01
170 $440,273.01 $1,562.58 $0.00 $2,489.37 $444,324.96
171 $444,324.96 $1,562.58 $0.00 $2,512.28 $448,399.82
172 $448,399.82 $1,562.58 $0.00 $2,535.32 $452,497.72
173 $452,497.72 $1,562.58 $0.00 $2,558.49 $456,618.79
174 $456,618.79 $1,562.58 $0.00 $2,581.79 $460,763.16
175 $460,763.16 $1,562.58 $0.00 $2,605.22 $464,930.96
176 $464,930.96 $1,562.58 $0.00 $2,628.79 $469,122.33
177 $469,122.33 $1,562.58 $0.00 $2,652.49 $473,337.40
178 $473,337.40 $1,562.58 $0.00 $2,676.32 $477,576.30
179 $477,576.30 $1,562.58 $0.00 $2,700.29 $481,839.17
180 $481,839.17 $1,562.58 $0.00 $2,724.39 $486,126.14
181 $486,126.14 $1,562.58 $0.00 $2,748.63 $490,437.35
182 $490,437.35 $1,562.58 $0.00 $2,773.00 $494,772.93
183 $494,772.93 $1,562.58 $0.00 $2,797.52 $499,133.03
184 $499,133.03 $1,562.58 $0.00 $2,822.17 $503,517.78
185 $503,517.78 $1,562.58 $0.00 $2,846.96 $507,927.32
186 $507,927.32 $1,562.58 $0.00 $2,871.89 $512,361.79
187 $512,361.79 $1,562.58 $0.00 $2,896.97 $516,821.34
188 $516,821.34 $1,562.58 $0.00 $2,922.18 $521,306.10
189 $521,306.10 $1,562.58 $0.00 $2,947.54 $525,816.22
190 $525,816.22 $1,562.58 $0.00 $2,973.04 $530,351.84
191 $530,351.84 $1,562.58 $0.00 $2,998.69 $534,913.11
192 $534,913.11 $1,562.58 $0.00 $3,024.48 $539,500.17
193 $539,500.17 $1,562.58 $0.00 $3,050.41 $544,113.16
194 $544,113.16 $1,562.58 $0.00 $3,076.49 $548,752.23
195 $548,752.23 $1,562.58 $0.00 $3,102.72 $553,417.53
196 $553,417.53 $1,562.58 $0.00 $3,129.10 $558,109.21
197 $558,109.21 $1,562.58 $0.00 $3,155.63 $562,827.42
198 $562,827.42 $1,562.58 $0.00 $3,182.31 $567,572.31
199 $567,572.31 $1,562.58 $0.00 $3,209.14 $572,344.03
200 $572,344.03 $1,562.58 $0.00 $3,236.12 $577,142.73
201 $577,142.73 $1,562.58 $0.00 $3,263.25 $581,968.56
202 $581,968.56 $1,562.58 $0.00 $3,290.53 $586,821.67
203 $586,821.67 $1,562.58 $0.00 $3,317.98 $591,702.23
204 $591,702.23 $1,562.58 $0.00 $3,345.57 $596,610.38
205 $596,610.38 $1,562.58 $0.00 $3,373.32 $601,546.28
206 $601,546.28 $1,562.58 $0.00 $3,401.23 $606,510.09
207 $606,510.09 $1,562.58 $0.00 $3,429.30 $611,501.97
208 $611,501.97 $1,562.58 $0.00 $3,457.52 $616,522.07
209 $616,522.07 $1,562.58 $0.00 $3,485.91 $621,570.56
210 $621,570.56 $1,562.58 $0.00 $3,514.45 $626,647.59
211 $626,647.59 $1,562.58 $0.00 $3,543.16 $631,753.33
212 $631,753.33 $1,562.58 $0.00 $3,572.03 $636,887.94
213 $636,887.94 $1,562.58 $0.00 $3,601.06 $642,051.58
214 $642,051.58 $1,562.58 $0.00 $3,630.25 $647,244.41
215 $647,244.41 $1,562.58 $0.00 $3,659.61 $652,466.60
216 $652,466.60 $1,562.58 $0.00 $3,689.14 $657,718.32
217 $657,718.32 $1,562.58 $178,122.43 $3,718.84 $484,877.31
218 $484,877.31 $1,562.58 $0.00 $2,741.57 $489,181.46
219 $489,181.46 $1,562.58 $0.00 $2,765.90 $493,509.94
220 $493,509.94 $1,562.58 $0.00 $2,790.38 $497,862.90
221 $497,862.90 $1,562.58 $0.00 $2,814.99 $502,240.47
222 $502,240.47 $1,562.58 $0.00 $2,839.74 $506,642.79
223 $506,642.79 $1,562.58 $0.00 $2,864.63 $511,070.00
224 $511,070.00 $1,562.58 $0.00 $2,889.66 $515,522.24
225 $515,522.24 $1,562.58 $0.00 $2,914.84 $519,999.66
226 $519,999.66 $1,562.58 $0.00 $2,940.15 $524,502.39
227 $524,502.39 $1,562.58 $0.00 $2,965.61 $529,030.58
228 $529,030.58 $1,562.58 $0.00 $2,991.22 $533,584.38
229 $533,584.38 $1,562.58 $190,591.00 $3,016.96 $347,572.92
230 $347,572.92 $1,562.58 $0.00 $1,965.23 $351,100.73
231 $351,100.73 $1,562.58 $0.00 $1,985.17 $354,648.48
232 $354,648.48 $1,562.58 $0.00 $2,005.23 $358,216.29
233 $358,216.29 $1,562.58 $0.00 $2,025.41 $361,804.28
234 $361,804.28 $1,562.58 $0.00 $2,045.69 $365,412.55
235 $365,412.55 $1,562.58 $0.00 $2,066.10 $369,041.23
236 $369,041.23 $1,562.58 $0.00 $2,086.61 $372,690.42
237 $372,690.42 $1,562.58 $0.00 $2,107.25 $376,360.25
238 $376,360.25 $1,562.58 $0.00 $2,128.00 $380,050.83
239 $380,050.83 $1,562.58 $0.00 $2,148.86 $383,762.27
240 $383,762.27 $1,562.58 $0.00 $2,169.85 $387,494.70
241 $387,494.70 $1,562.58 $203,932.37 $2,190.95 $187,315.86
242 $187,315.86 $1,562.58 $0.00 $1,059.11 $189,937.55
243 $189,937.55 $1,562.58 $0.00 $1,073.93 $192,574.06
244 $192,574.06 $1,562.58 $0.00 $1,088.84 $195,225.48
245 $195,225.48 $1,562.58 $0.00 $1,103.83 $197,891.89
246 $197,891.89 $1,562.58 $0.00 $1,118.91 $200,573.38
247 $200,573.38 $1,562.58 $0.00 $1,134.07 $203,270.03
248 $203,270.03 $1,562.58 $0.00 $1,149.32 $205,981.93
249 $205,981.93 $1,562.58 $0.00 $1,164.65 $208,709.16
250 $208,709.16 $1,562.58 $0.00 $1,180.07 $211,451.81
251 $211,451.81 $1,562.58 $0.00 $1,195.58 $214,209.97
252 $214,209.97 $1,562.58 $0.00 $1,211.17 $216,983.72
253 $216,983.72 $0.00 $218,207.64 $1,226.86 $2.94