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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2035$176,221
Monthly savings required$1,395

How much will it cost to send your child to Harvey Mudd College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $704,885.64 for students enrolling in 2035 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,394.95 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$67,955.00
Years until enrollment18
Annual Tuition Increase5%
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 $1,394.95 $0.00 $0.00 $1,394.95
2 $1,394.95 $1,394.95 $0.00 $7.89 $2,797.79
3 $2,797.79 $1,394.95 $0.00 $15.82 $4,208.56
4 $4,208.56 $1,394.95 $0.00 $23.80 $5,627.31
5 $5,627.31 $1,394.95 $0.00 $31.82 $7,054.08
6 $7,054.08 $1,394.95 $0.00 $39.88 $8,488.91
7 $8,488.91 $1,394.95 $0.00 $48.00 $9,931.86
8 $9,931.86 $1,394.95 $0.00 $56.16 $11,382.97
9 $11,382.97 $1,394.95 $0.00 $64.36 $12,842.28
10 $12,842.28 $1,394.95 $0.00 $72.61 $14,309.84
11 $14,309.84 $1,394.95 $0.00 $80.91 $15,785.70
12 $15,785.70 $1,394.95 $0.00 $89.25 $17,269.90
13 $17,269.90 $1,394.95 $0.00 $97.65 $18,762.50
14 $18,762.50 $1,394.95 $0.00 $106.09 $20,263.54
15 $20,263.54 $1,394.95 $0.00 $114.57 $21,773.06
16 $21,773.06 $1,394.95 $0.00 $123.11 $23,291.12
17 $23,291.12 $1,394.95 $0.00 $131.69 $24,817.76
18 $24,817.76 $1,394.95 $0.00 $140.32 $26,353.03
19 $26,353.03 $1,394.95 $0.00 $149.00 $27,896.98
20 $27,896.98 $1,394.95 $0.00 $157.73 $29,449.66
21 $29,449.66 $1,394.95 $0.00 $166.51 $31,011.12
22 $31,011.12 $1,394.95 $0.00 $175.34 $32,581.41
23 $32,581.41 $1,394.95 $0.00 $184.22 $34,160.58
24 $34,160.58 $1,394.95 $0.00 $193.15 $35,748.68
25 $35,748.68 $1,394.95 $0.00 $202.13 $37,345.76
26 $37,345.76 $1,394.95 $0.00 $211.16 $38,951.87
27 $38,951.87 $1,394.95 $0.00 $220.24 $40,567.06
28 $40,567.06 $1,394.95 $0.00 $229.37 $42,191.38
29 $42,191.38 $1,394.95 $0.00 $238.56 $43,824.89
30 $43,824.89 $1,394.95 $0.00 $247.79 $45,467.63
31 $45,467.63 $1,394.95 $0.00 $257.08 $47,119.66
32 $47,119.66 $1,394.95 $0.00 $266.42 $48,781.03
33 $48,781.03 $1,394.95 $0.00 $275.82 $50,451.80
34 $50,451.80 $1,394.95 $0.00 $285.26 $52,132.01
35 $52,132.01 $1,394.95 $0.00 $294.76 $53,821.72
36 $53,821.72 $1,394.95 $0.00 $304.32 $55,520.99
37 $55,520.99 $1,394.95 $0.00 $313.92 $57,229.86
38 $57,229.86 $1,394.95 $0.00 $323.59 $58,948.40
39 $58,948.40 $1,394.95 $0.00 $333.30 $60,676.65
40 $60,676.65 $1,394.95 $0.00 $343.07 $62,414.67
41 $62,414.67 $1,394.95 $0.00 $352.90 $64,162.52
42 $64,162.52 $1,394.95 $0.00 $362.78 $65,920.25
43 $65,920.25 $1,394.95 $0.00 $372.72 $67,687.92
44 $67,687.92 $1,394.95 $0.00 $382.72 $69,465.59
45 $69,465.59 $1,394.95 $0.00 $392.77 $71,253.31
46 $71,253.31 $1,394.95 $0.00 $402.88 $73,051.14
47 $73,051.14 $1,394.95 $0.00 $413.04 $74,859.13
48 $74,859.13 $1,394.95 $0.00 $423.26 $76,677.34
49 $76,677.34 $1,394.95 $0.00 $433.54 $78,505.83
50 $78,505.83 $1,394.95 $0.00 $443.88 $80,344.66
51 $80,344.66 $1,394.95 $0.00 $454.28 $82,193.89
52 $82,193.89 $1,394.95 $0.00 $464.74 $84,053.58
53 $84,053.58 $1,394.95 $0.00 $475.25 $85,923.78
54 $85,923.78 $1,394.95 $0.00 $485.83 $87,804.56
55 $87,804.56 $1,394.95 $0.00 $496.46 $89,695.97
56 $89,695.97 $1,394.95 $0.00 $507.15 $91,598.07
57 $91,598.07 $1,394.95 $0.00 $517.91 $93,510.93
58 $93,510.93 $1,394.95 $0.00 $528.72 $95,434.60
59 $95,434.60 $1,394.95 $0.00 $539.60 $97,369.15
60 $97,369.15 $1,394.95 $0.00 $550.54 $99,314.64
61 $99,314.64 $1,394.95 $0.00 $561.54 $101,271.13
62 $101,271.13 $1,394.95 $0.00 $572.60 $103,238.68
63 $103,238.68 $1,394.95 $0.00 $583.73 $105,217.36
64 $105,217.36 $1,394.95 $0.00 $594.91 $107,207.22
65 $107,207.22 $1,394.95 $0.00 $606.17 $109,208.34
66 $109,208.34 $1,394.95 $0.00 $617.48 $111,220.77
67 $111,220.77 $1,394.95 $0.00 $628.86 $113,244.58
68 $113,244.58 $1,394.95 $0.00 $640.30 $115,279.83
69 $115,279.83 $1,394.95 $0.00 $651.81 $117,326.59
70 $117,326.59 $1,394.95 $0.00 $663.38 $119,384.92
71 $119,384.92 $1,394.95 $0.00 $675.02 $121,454.89
72 $121,454.89 $1,394.95 $0.00 $686.72 $123,536.56
73 $123,536.56 $1,394.95 $0.00 $698.49 $125,630.00
74 $125,630.00 $1,394.95 $0.00 $710.33 $127,735.28
75 $127,735.28 $1,394.95 $0.00 $722.23 $129,852.46
76 $129,852.46 $1,394.95 $0.00 $734.20 $131,981.61
77 $131,981.61 $1,394.95 $0.00 $746.24 $134,122.80
78 $134,122.80 $1,394.95 $0.00 $758.35 $136,276.10
79 $136,276.10 $1,394.95 $0.00 $770.52 $138,441.57
80 $138,441.57 $1,394.95 $0.00 $782.77 $140,619.29
81 $140,619.29 $1,394.95 $0.00 $795.08 $142,809.32
82 $142,809.32 $1,394.95 $0.00 $807.46 $145,011.73
83 $145,011.73 $1,394.95 $0.00 $819.92 $147,226.60
84 $147,226.60 $1,394.95 $0.00 $832.44 $149,453.99
85 $149,453.99 $1,394.95 $0.00 $845.03 $151,693.97
86 $151,693.97 $1,394.95 $0.00 $857.70 $153,946.62
87 $153,946.62 $1,394.95 $0.00 $870.44 $156,212.01
88 $156,212.01 $1,394.95 $0.00 $883.25 $158,490.21
89 $158,490.21 $1,394.95 $0.00 $896.13 $160,781.29
90 $160,781.29 $1,394.95 $0.00 $909.08 $163,085.32
91 $163,085.32 $1,394.95 $0.00 $922.11 $165,402.38
92 $165,402.38 $1,394.95 $0.00 $935.21 $167,732.54
93 $167,732.54 $1,394.95 $0.00 $948.38 $170,075.87
94 $170,075.87 $1,394.95 $0.00 $961.63 $172,432.45
95 $172,432.45 $1,394.95 $0.00 $974.96 $174,802.36
96 $174,802.36 $1,394.95 $0.00 $988.36 $177,185.67
97 $177,185.67 $1,394.95 $0.00 $1,001.83 $179,582.45
98 $179,582.45 $1,394.95 $0.00 $1,015.39 $181,992.79
99 $181,992.79 $1,394.95 $0.00 $1,029.01 $184,416.75
100 $184,416.75 $1,394.95 $0.00 $1,042.72 $186,854.42
101 $186,854.42 $1,394.95 $0.00 $1,056.50 $189,305.87
102 $189,305.87 $1,394.95 $0.00 $1,070.36 $191,771.18
103 $191,771.18 $1,394.95 $0.00 $1,084.30 $194,250.43
104 $194,250.43 $1,394.95 $0.00 $1,098.32 $196,743.70
105 $196,743.70 $1,394.95 $0.00 $1,112.42 $199,251.07
106 $199,251.07 $1,394.95 $0.00 $1,126.59 $201,772.61
107 $201,772.61 $1,394.95 $0.00 $1,140.85 $204,308.41
108 $204,308.41 $1,394.95 $0.00 $1,155.19 $206,858.55
109 $206,858.55 $1,394.95 $0.00 $1,169.61 $209,423.11
110 $209,423.11 $1,394.95 $0.00 $1,184.11 $212,002.17
111 $212,002.17 $1,394.95 $0.00 $1,198.69 $214,595.81
112 $214,595.81 $1,394.95 $0.00 $1,213.36 $217,204.12
113 $217,204.12 $1,394.95 $0.00 $1,228.10 $219,827.17
114 $219,827.17 $1,394.95 $0.00 $1,242.93 $222,465.05
115 $222,465.05 $1,394.95 $0.00 $1,257.85 $225,117.85
116 $225,117.85 $1,394.95 $0.00 $1,272.85 $227,785.65
117 $227,785.65 $1,394.95 $0.00 $1,287.93 $230,468.53
118 $230,468.53 $1,394.95 $0.00 $1,303.10 $233,166.58
119 $233,166.58 $1,394.95 $0.00 $1,318.36 $235,879.89
120 $235,879.89 $1,394.95 $0.00 $1,333.70 $238,608.54
121 $238,608.54 $1,394.95 $0.00 $1,349.13 $241,352.62
122 $241,352.62 $1,394.95 $0.00 $1,364.64 $244,112.21
123 $244,112.21 $1,394.95 $0.00 $1,380.25 $246,887.41
124 $246,887.41 $1,394.95 $0.00 $1,395.94 $249,678.30
125 $249,678.30 $1,394.95 $0.00 $1,411.72 $252,484.97
126 $252,484.97 $1,394.95 $0.00 $1,427.59 $255,307.51
127 $255,307.51 $1,394.95 $0.00 $1,443.55 $258,146.01
128 $258,146.01 $1,394.95 $0.00 $1,459.60 $261,000.56
129 $261,000.56 $1,394.95 $0.00 $1,475.74 $263,871.25
130 $263,871.25 $1,394.95 $0.00 $1,491.97 $266,758.17
131 $266,758.17 $1,394.95 $0.00 $1,508.29 $269,661.41
132 $269,661.41 $1,394.95 $0.00 $1,524.70 $272,581.06
133 $272,581.06 $1,394.95 $0.00 $1,541.21 $275,517.22
134 $275,517.22 $1,394.95 $0.00 $1,557.81 $278,469.98
135 $278,469.98 $1,394.95 $0.00 $1,574.51 $281,439.44
136 $281,439.44 $1,394.95 $0.00 $1,591.30 $284,425.69
137 $284,425.69 $1,394.95 $0.00 $1,608.18 $287,428.82
138 $287,428.82 $1,394.95 $0.00 $1,625.16 $290,448.93
139 $290,448.93 $1,394.95 $0.00 $1,642.24 $293,486.12
140 $293,486.12 $1,394.95 $0.00 $1,659.41 $296,540.48
141 $296,540.48 $1,394.95 $0.00 $1,676.68 $299,612.11
142 $299,612.11 $1,394.95 $0.00 $1,694.05 $302,701.11
143 $302,701.11 $1,394.95 $0.00 $1,711.52 $305,807.58
144 $305,807.58 $1,394.95 $0.00 $1,729.08 $308,931.61
145 $308,931.61 $1,394.95 $0.00 $1,746.74 $312,073.30
146 $312,073.30 $1,394.95 $0.00 $1,764.51 $315,232.76
147 $315,232.76 $1,394.95 $0.00 $1,782.37 $318,410.08
148 $318,410.08 $1,394.95 $0.00 $1,800.34 $321,605.37
149 $321,605.37 $1,394.95 $0.00 $1,818.40 $324,818.72
150 $324,818.72 $1,394.95 $0.00 $1,836.57 $328,050.24
151 $328,050.24 $1,394.95 $0.00 $1,854.84 $331,300.03
152 $331,300.03 $1,394.95 $0.00 $1,873.22 $334,568.20
153 $334,568.20 $1,394.95 $0.00 $1,891.70 $337,854.85
154 $337,854.85 $1,394.95 $0.00 $1,910.28 $341,160.08
155 $341,160.08 $1,394.95 $0.00 $1,928.97 $344,484.00
156 $344,484.00 $1,394.95 $0.00 $1,947.76 $347,826.71
157 $347,826.71 $1,394.95 $0.00 $1,966.66 $351,188.32
158 $351,188.32 $1,394.95 $0.00 $1,985.67 $354,568.94
159 $354,568.94 $1,394.95 $0.00 $2,004.78 $357,968.67
160 $357,968.67 $1,394.95 $0.00 $2,024.01 $361,387.63
161 $361,387.63 $1,394.95 $0.00 $2,043.34 $364,825.92
162 $364,825.92 $1,394.95 $0.00 $2,062.78 $368,283.65
163 $368,283.65 $1,394.95 $0.00 $2,082.33 $371,760.93
164 $371,760.93 $1,394.95 $0.00 $2,101.99 $375,257.87
165 $375,257.87 $1,394.95 $0.00 $2,121.76 $378,774.58
166 $378,774.58 $1,394.95 $0.00 $2,141.65 $382,311.18
167 $382,311.18 $1,394.95 $0.00 $2,161.64 $385,867.77
168 $385,867.77 $1,394.95 $0.00 $2,181.75 $389,444.47
169 $389,444.47 $1,394.95 $0.00 $2,201.98 $393,041.40
170 $393,041.40 $1,394.95 $0.00 $2,222.31 $396,658.66
171 $396,658.66 $1,394.95 $0.00 $2,242.77 $400,296.38
172 $400,296.38 $1,394.95 $0.00 $2,263.33 $403,954.66
173 $403,954.66 $1,394.95 $0.00 $2,284.02 $407,633.63
174 $407,633.63 $1,394.95 $0.00 $2,304.82 $411,333.40
175 $411,333.40 $1,394.95 $0.00 $2,325.74 $415,054.09
176 $415,054.09 $1,394.95 $0.00 $2,346.78 $418,795.82
177 $418,795.82 $1,394.95 $0.00 $2,367.93 $422,558.70
178 $422,558.70 $1,394.95 $0.00 $2,389.21 $426,342.86
179 $426,342.86 $1,394.95 $0.00 $2,410.60 $430,148.41
180 $430,148.41 $1,394.95 $0.00 $2,432.12 $433,975.48
181 $433,975.48 $1,394.95 $0.00 $2,453.76 $437,824.19
182 $437,824.19 $1,394.95 $0.00 $2,475.52 $441,694.66
183 $441,694.66 $1,394.95 $0.00 $2,497.41 $445,587.02
184 $445,587.02 $1,394.95 $0.00 $2,519.41 $449,501.38
185 $449,501.38 $1,394.95 $0.00 $2,541.55 $453,437.88
186 $453,437.88 $1,394.95 $0.00 $2,563.80 $457,396.63
187 $457,396.63 $1,394.95 $0.00 $2,586.19 $461,377.77
188 $461,377.77 $1,394.95 $0.00 $2,608.70 $465,381.42
189 $465,381.42 $1,394.95 $0.00 $2,631.33 $469,407.70
190 $469,407.70 $1,394.95 $0.00 $2,654.10 $473,456.75
191 $473,456.75 $1,394.95 $0.00 $2,676.99 $477,528.69
192 $477,528.69 $1,394.95 $0.00 $2,700.02 $481,623.66
193 $481,623.66 $1,394.95 $0.00 $2,723.17 $485,741.78
194 $485,741.78 $1,394.95 $0.00 $2,746.45 $489,883.18
195 $489,883.18 $1,394.95 $0.00 $2,769.87 $494,048.00
196 $494,048.00 $1,394.95 $0.00 $2,793.42 $498,236.37
197 $498,236.37 $1,394.95 $0.00 $2,817.10 $502,448.42
198 $502,448.42 $1,394.95 $0.00 $2,840.92 $506,684.29
199 $506,684.29 $1,394.95 $0.00 $2,864.87 $510,944.11
200 $510,944.11 $1,394.95 $0.00 $2,888.95 $515,228.01
201 $515,228.01 $1,394.95 $0.00 $2,913.17 $519,536.13
202 $519,536.13 $1,394.95 $0.00 $2,937.53 $523,868.61
203 $523,868.61 $1,394.95 $0.00 $2,962.03 $528,225.59
204 $528,225.59 $1,394.95 $0.00 $2,986.66 $532,607.20
205 $532,607.20 $1,394.95 $0.00 $3,011.44 $537,013.59
206 $537,013.59 $1,394.95 $0.00 $3,036.35 $541,444.89
207 $541,444.89 $1,394.95 $0.00 $3,061.41 $545,901.25
208 $545,901.25 $1,394.95 $0.00 $3,086.61 $550,382.81
209 $550,382.81 $1,394.95 $0.00 $3,111.94 $554,889.70
210 $554,889.70 $1,394.95 $0.00 $3,137.43 $559,422.08
211 $559,422.08 $1,394.95 $0.00 $3,163.05 $563,980.08
212 $563,980.08 $1,394.95 $0.00 $3,188.83 $568,563.86
213 $568,563.86 $1,394.95 $0.00 $3,214.74 $573,173.55
214 $573,173.55 $1,394.95 $0.00 $3,240.81 $577,809.31
215 $577,809.31 $1,394.95 $0.00 $3,267.02 $582,471.28
216 $582,471.28 $1,394.95 $0.00 $3,293.38 $587,159.61
217 $587,159.61 $1,394.95 $163,541.81 $3,319.89 $428,332.64
218 $428,332.64 $1,394.95 $0.00 $2,421.86 $432,149.45
219 $432,149.45 $1,394.95 $0.00 $2,443.44 $435,987.84
220 $435,987.84 $1,394.95 $0.00 $2,465.14 $439,847.93
221 $439,847.93 $1,394.95 $0.00 $2,486.96 $443,729.84
222 $443,729.84 $1,394.95 $0.00 $2,508.91 $447,633.70
223 $447,633.70 $1,394.95 $0.00 $2,530.99 $451,559.64
224 $451,559.64 $1,394.95 $0.00 $2,553.18 $455,507.77
225 $455,507.77 $1,394.95 $0.00 $2,575.51 $459,478.23
226 $459,478.23 $1,394.95 $0.00 $2,597.96 $463,471.14
227 $463,471.14 $1,394.95 $0.00 $2,620.53 $467,486.62
228 $467,486.62 $1,394.95 $0.00 $2,643.24 $471,524.81
229 $471,524.81 $1,394.95 $171,718.90 $2,666.07 $303,866.93
230 $303,866.93 $1,394.95 $0.00 $1,718.11 $306,979.99
231 $306,979.99 $1,394.95 $0.00 $1,735.71 $310,110.65
232 $310,110.65 $1,394.95 $0.00 $1,753.41 $313,259.01
233 $313,259.01 $1,394.95 $0.00 $1,771.21 $316,425.17
234 $316,425.17 $1,394.95 $0.00 $1,789.11 $319,609.23
235 $319,609.23 $1,394.95 $0.00 $1,807.12 $322,811.30
236 $322,811.30 $1,394.95 $0.00 $1,825.22 $326,031.47
237 $326,031.47 $1,394.95 $0.00 $1,843.43 $329,269.85
238 $329,269.85 $1,394.95 $0.00 $1,861.74 $332,526.54
239 $332,526.54 $1,394.95 $0.00 $1,880.15 $335,801.64
240 $335,801.64 $1,394.95 $0.00 $1,898.67 $339,095.26
241 $339,095.26 $1,394.95 $180,304.85 $1,917.29 $162,102.65
242 $162,102.65 $1,394.95 $0.00 $916.55 $164,414.15
243 $164,414.15 $1,394.95 $0.00 $929.62 $166,738.72
244 $166,738.72 $1,394.95 $0.00 $942.76 $169,076.43
245 $169,076.43 $1,394.95 $0.00 $955.98 $171,427.36
246 $171,427.36 $1,394.95 $0.00 $969.28 $173,791.59
247 $173,791.59 $1,394.95 $0.00 $982.64 $176,169.18
248 $176,169.18 $1,394.95 $0.00 $996.09 $178,560.22
249 $178,560.22 $1,394.95 $0.00 $1,009.61 $180,964.78
250 $180,964.78 $1,394.95 $0.00 $1,023.20 $183,382.93
251 $183,382.93 $1,394.95 $0.00 $1,036.87 $185,814.75
252 $185,814.75 $1,394.95 $0.00 $1,050.62 $188,260.32
253 $188,260.32 $0.00 $189,320.09 $1,064.45 $4.68

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