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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$180,072
Monthly savings required$1,425

How much will it cost to send your child to Connecticut College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $720,289.30 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,425.42 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$69,440.00
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 $1,425.42 $0.00 $0.00 $1,425.42
2 $1,425.42 $1,425.42 $0.00 $8.06 $2,858.90
3 $2,858.90 $1,425.42 $0.00 $16.16 $4,300.48
4 $4,300.48 $1,425.42 $0.00 $24.32 $5,750.22
5 $5,750.22 $1,425.42 $0.00 $32.51 $7,208.15
6 $7,208.15 $1,425.42 $0.00 $40.76 $8,674.33
7 $8,674.33 $1,425.42 $0.00 $49.05 $10,148.80
8 $10,148.80 $1,425.42 $0.00 $57.38 $11,631.60
9 $11,631.60 $1,425.42 $0.00 $65.77 $13,122.79
10 $13,122.79 $1,425.42 $0.00 $74.20 $14,622.41
11 $14,622.41 $1,425.42 $0.00 $82.68 $16,130.51
12 $16,130.51 $1,425.42 $0.00 $91.20 $17,647.13
13 $17,647.13 $1,425.42 $0.00 $99.78 $19,172.33
14 $19,172.33 $1,425.42 $0.00 $108.40 $20,706.15
15 $20,706.15 $1,425.42 $0.00 $117.08 $22,248.65
16 $22,248.65 $1,425.42 $0.00 $125.80 $23,799.87
17 $23,799.87 $1,425.42 $0.00 $134.57 $25,359.86
18 $25,359.86 $1,425.42 $0.00 $143.39 $26,928.67
19 $26,928.67 $1,425.42 $0.00 $152.26 $28,506.35
20 $28,506.35 $1,425.42 $0.00 $161.18 $30,092.95
21 $30,092.95 $1,425.42 $0.00 $170.15 $31,688.52
22 $31,688.52 $1,425.42 $0.00 $179.17 $33,293.11
23 $33,293.11 $1,425.42 $0.00 $188.24 $34,906.77
24 $34,906.77 $1,425.42 $0.00 $197.37 $36,529.56
25 $36,529.56 $1,425.42 $0.00 $206.54 $38,161.52
26 $38,161.52 $1,425.42 $0.00 $215.77 $39,802.71
27 $39,802.71 $1,425.42 $0.00 $225.05 $41,453.18
28 $41,453.18 $1,425.42 $0.00 $234.38 $43,112.98
29 $43,112.98 $1,425.42 $0.00 $243.77 $44,782.17
30 $44,782.17 $1,425.42 $0.00 $253.20 $46,460.79
31 $46,460.79 $1,425.42 $0.00 $262.70 $48,148.91
32 $48,148.91 $1,425.42 $0.00 $272.24 $49,846.57
33 $49,846.57 $1,425.42 $0.00 $281.84 $51,553.83
34 $51,553.83 $1,425.42 $0.00 $291.49 $53,270.74
35 $53,270.74 $1,425.42 $0.00 $301.20 $54,997.36
36 $54,997.36 $1,425.42 $0.00 $310.96 $56,733.74
37 $56,733.74 $1,425.42 $0.00 $320.78 $58,479.94
38 $58,479.94 $1,425.42 $0.00 $330.65 $60,236.01
39 $60,236.01 $1,425.42 $0.00 $340.58 $62,002.01
40 $62,002.01 $1,425.42 $0.00 $350.57 $63,778.00
41 $63,778.00 $1,425.42 $0.00 $360.61 $65,564.03
42 $65,564.03 $1,425.42 $0.00 $370.71 $67,360.16
43 $67,360.16 $1,425.42 $0.00 $380.86 $69,166.44
44 $69,166.44 $1,425.42 $0.00 $391.08 $70,982.94
45 $70,982.94 $1,425.42 $0.00 $401.35 $72,809.71
46 $72,809.71 $1,425.42 $0.00 $411.68 $74,646.81
47 $74,646.81 $1,425.42 $0.00 $422.06 $76,494.29
48 $76,494.29 $1,425.42 $0.00 $432.51 $78,352.22
49 $78,352.22 $1,425.42 $0.00 $443.01 $80,220.65
50 $80,220.65 $1,425.42 $0.00 $453.58 $82,099.65
51 $82,099.65 $1,425.42 $0.00 $464.20 $83,989.27
52 $83,989.27 $1,425.42 $0.00 $474.89 $85,889.58
53 $85,889.58 $1,425.42 $0.00 $485.63 $87,800.63
54 $87,800.63 $1,425.42 $0.00 $496.44 $89,722.49
55 $89,722.49 $1,425.42 $0.00 $507.30 $91,655.21
56 $91,655.21 $1,425.42 $0.00 $518.23 $93,598.86
57 $93,598.86 $1,425.42 $0.00 $529.22 $95,553.50
58 $95,553.50 $1,425.42 $0.00 $540.27 $97,519.19
59 $97,519.19 $1,425.42 $0.00 $551.39 $99,496.00
60 $99,496.00 $1,425.42 $0.00 $562.56 $101,483.98
61 $101,483.98 $1,425.42 $0.00 $573.81 $103,483.21
62 $103,483.21 $1,425.42 $0.00 $585.11 $105,493.74
63 $105,493.74 $1,425.42 $0.00 $596.48 $107,515.64
64 $107,515.64 $1,425.42 $0.00 $607.91 $109,548.97
65 $109,548.97 $1,425.42 $0.00 $619.41 $111,593.80
66 $111,593.80 $1,425.42 $0.00 $630.97 $113,650.19
67 $113,650.19 $1,425.42 $0.00 $642.59 $115,718.20
68 $115,718.20 $1,425.42 $0.00 $654.29 $117,797.91
69 $117,797.91 $1,425.42 $0.00 $666.05 $119,889.38
70 $119,889.38 $1,425.42 $0.00 $677.87 $121,992.67
71 $121,992.67 $1,425.42 $0.00 $689.76 $124,107.85
72 $124,107.85 $1,425.42 $0.00 $701.72 $126,234.99
73 $126,234.99 $1,425.42 $0.00 $713.75 $128,374.16
74 $128,374.16 $1,425.42 $0.00 $725.85 $130,525.43
75 $130,525.43 $1,425.42 $0.00 $738.01 $132,688.86
76 $132,688.86 $1,425.42 $0.00 $750.24 $134,864.52
77 $134,864.52 $1,425.42 $0.00 $762.54 $137,052.48
78 $137,052.48 $1,425.42 $0.00 $774.91 $139,252.81
79 $139,252.81 $1,425.42 $0.00 $787.36 $141,465.59
80 $141,465.59 $1,425.42 $0.00 $799.87 $143,690.88
81 $143,690.88 $1,425.42 $0.00 $812.45 $145,928.75
82 $145,928.75 $1,425.42 $0.00 $825.10 $148,179.27
83 $148,179.27 $1,425.42 $0.00 $837.83 $150,442.52
84 $150,442.52 $1,425.42 $0.00 $850.62 $152,718.56
85 $152,718.56 $1,425.42 $0.00 $863.49 $155,007.47
86 $155,007.47 $1,425.42 $0.00 $876.43 $157,309.32
87 $157,309.32 $1,425.42 $0.00 $889.45 $159,624.19
88 $159,624.19 $1,425.42 $0.00 $902.54 $161,952.15
89 $161,952.15 $1,425.42 $0.00 $915.70 $164,293.27
90 $164,293.27 $1,425.42 $0.00 $928.94 $166,647.63
91 $166,647.63 $1,425.42 $0.00 $942.25 $169,015.30
92 $169,015.30 $1,425.42 $0.00 $955.64 $171,396.36
93 $171,396.36 $1,425.42 $0.00 $969.10 $173,790.88
94 $173,790.88 $1,425.42 $0.00 $982.64 $176,198.94
95 $176,198.94 $1,425.42 $0.00 $996.25 $178,620.61
96 $178,620.61 $1,425.42 $0.00 $1,009.95 $181,055.98
97 $181,055.98 $1,425.42 $0.00 $1,023.72 $183,505.12
98 $183,505.12 $1,425.42 $0.00 $1,037.56 $185,968.10
99 $185,968.10 $1,425.42 $0.00 $1,051.49 $188,445.01
100 $188,445.01 $1,425.42 $0.00 $1,065.50 $190,935.93
101 $190,935.93 $1,425.42 $0.00 $1,079.58 $193,440.93
102 $193,440.93 $1,425.42 $0.00 $1,093.74 $195,960.09
103 $195,960.09 $1,425.42 $0.00 $1,107.99 $198,493.50
104 $198,493.50 $1,425.42 $0.00 $1,122.31 $201,041.23
105 $201,041.23 $1,425.42 $0.00 $1,136.72 $203,603.37
106 $203,603.37 $1,425.42 $0.00 $1,151.20 $206,179.99
107 $206,179.99 $1,425.42 $0.00 $1,165.77 $208,771.18
108 $208,771.18 $1,425.42 $0.00 $1,180.42 $211,377.02
109 $211,377.02 $1,425.42 $0.00 $1,195.16 $213,997.60
110 $213,997.60 $1,425.42 $0.00 $1,209.97 $216,632.99
111 $216,632.99 $1,425.42 $0.00 $1,224.87 $219,283.28
112 $219,283.28 $1,425.42 $0.00 $1,239.86 $221,948.56
113 $221,948.56 $1,425.42 $0.00 $1,254.93 $224,628.91
114 $224,628.91 $1,425.42 $0.00 $1,270.08 $227,324.41
115 $227,324.41 $1,425.42 $0.00 $1,285.33 $230,035.16
116 $230,035.16 $1,425.42 $0.00 $1,300.65 $232,761.23
117 $232,761.23 $1,425.42 $0.00 $1,316.07 $235,502.72
118 $235,502.72 $1,425.42 $0.00 $1,331.57 $238,259.71
119 $238,259.71 $1,425.42 $0.00 $1,347.16 $241,032.29
120 $241,032.29 $1,425.42 $0.00 $1,362.83 $243,820.54
121 $243,820.54 $1,425.42 $0.00 $1,378.60 $246,624.56
122 $246,624.56 $1,425.42 $0.00 $1,394.45 $249,444.43
123 $249,444.43 $1,425.42 $0.00 $1,410.40 $252,280.25
124 $252,280.25 $1,425.42 $0.00 $1,426.43 $255,132.10
125 $255,132.10 $1,425.42 $0.00 $1,442.55 $258,000.07
126 $258,000.07 $1,425.42 $0.00 $1,458.77 $260,884.26
127 $260,884.26 $1,425.42 $0.00 $1,475.08 $263,784.76
128 $263,784.76 $1,425.42 $0.00 $1,491.48 $266,701.66
129 $266,701.66 $1,425.42 $0.00 $1,507.97 $269,635.05
130 $269,635.05 $1,425.42 $0.00 $1,524.56 $272,585.03
131 $272,585.03 $1,425.42 $0.00 $1,541.24 $275,551.69
132 $275,551.69 $1,425.42 $0.00 $1,558.01 $278,535.12
133 $278,535.12 $1,425.42 $0.00 $1,574.88 $281,535.42
134 $281,535.42 $1,425.42 $0.00 $1,591.84 $284,552.68
135 $284,552.68 $1,425.42 $0.00 $1,608.90 $287,587.00
136 $287,587.00 $1,425.42 $0.00 $1,626.06 $290,638.48
137 $290,638.48 $1,425.42 $0.00 $1,643.31 $293,707.21
138 $293,707.21 $1,425.42 $0.00 $1,660.66 $296,793.29
139 $296,793.29 $1,425.42 $0.00 $1,678.11 $299,896.82
140 $299,896.82 $1,425.42 $0.00 $1,695.66 $303,017.90
141 $303,017.90 $1,425.42 $0.00 $1,713.31 $306,156.63
142 $306,156.63 $1,425.42 $0.00 $1,731.05 $309,313.10
143 $309,313.10 $1,425.42 $0.00 $1,748.90 $312,487.42
144 $312,487.42 $1,425.42 $0.00 $1,766.85 $315,679.69
145 $315,679.69 $1,425.42 $0.00 $1,784.90 $318,890.01
146 $318,890.01 $1,425.42 $0.00 $1,803.05 $322,118.48
147 $322,118.48 $1,425.42 $0.00 $1,821.30 $325,365.20
148 $325,365.20 $1,425.42 $0.00 $1,839.66 $328,630.28
149 $328,630.28 $1,425.42 $0.00 $1,858.12 $331,913.82
150 $331,913.82 $1,425.42 $0.00 $1,876.69 $335,215.93
151 $335,215.93 $1,425.42 $0.00 $1,895.36 $338,536.71
152 $338,536.71 $1,425.42 $0.00 $1,914.14 $341,876.27
153 $341,876.27 $1,425.42 $0.00 $1,933.02 $345,234.71
154 $345,234.71 $1,425.42 $0.00 $1,952.01 $348,612.14
155 $348,612.14 $1,425.42 $0.00 $1,971.10 $352,008.66
156 $352,008.66 $1,425.42 $0.00 $1,990.31 $355,424.39
157 $355,424.39 $1,425.42 $0.00 $2,009.62 $358,859.43
158 $358,859.43 $1,425.42 $0.00 $2,029.04 $362,313.89
159 $362,313.89 $1,425.42 $0.00 $2,048.58 $365,787.89
160 $365,787.89 $1,425.42 $0.00 $2,068.22 $369,281.53
161 $369,281.53 $1,425.42 $0.00 $2,087.97 $372,794.92
162 $372,794.92 $1,425.42 $0.00 $2,107.84 $376,328.18
163 $376,328.18 $1,425.42 $0.00 $2,127.81 $379,881.41
164 $379,881.41 $1,425.42 $0.00 $2,147.90 $383,454.73
165 $383,454.73 $1,425.42 $0.00 $2,168.11 $387,048.26
166 $387,048.26 $1,425.42 $0.00 $2,188.43 $390,662.11
167 $390,662.11 $1,425.42 $0.00 $2,208.86 $394,296.39
168 $394,296.39 $1,425.42 $0.00 $2,229.41 $397,951.22
169 $397,951.22 $1,425.42 $0.00 $2,250.07 $401,626.71
170 $401,626.71 $1,425.42 $0.00 $2,270.86 $405,322.99
171 $405,322.99 $1,425.42 $0.00 $2,291.76 $409,040.17
172 $409,040.17 $1,425.42 $0.00 $2,312.77 $412,778.36
173 $412,778.36 $1,425.42 $0.00 $2,333.91 $416,537.69
174 $416,537.69 $1,425.42 $0.00 $2,355.16 $420,318.27
175 $420,318.27 $1,425.42 $0.00 $2,376.54 $424,120.23
176 $424,120.23 $1,425.42 $0.00 $2,398.04 $427,943.69
177 $427,943.69 $1,425.42 $0.00 $2,419.66 $431,788.77
178 $431,788.77 $1,425.42 $0.00 $2,441.40 $435,655.59
179 $435,655.59 $1,425.42 $0.00 $2,463.26 $439,544.27
180 $439,544.27 $1,425.42 $0.00 $2,485.25 $443,454.94
181 $443,454.94 $1,425.42 $0.00 $2,507.36 $447,387.72
182 $447,387.72 $1,425.42 $0.00 $2,529.60 $451,342.74
183 $451,342.74 $1,425.42 $0.00 $2,551.96 $455,320.12
184 $455,320.12 $1,425.42 $0.00 $2,574.45 $459,319.99
185 $459,319.99 $1,425.42 $0.00 $2,597.06 $463,342.47
186 $463,342.47 $1,425.42 $0.00 $2,619.81 $467,387.70
187 $467,387.70 $1,425.42 $0.00 $2,642.68 $471,455.80
188 $471,455.80 $1,425.42 $0.00 $2,665.68 $475,546.90
189 $475,546.90 $1,425.42 $0.00 $2,688.81 $479,661.13
190 $479,661.13 $1,425.42 $0.00 $2,712.07 $483,798.62
191 $483,798.62 $1,425.42 $0.00 $2,735.47 $487,959.51
192 $487,959.51 $1,425.42 $0.00 $2,758.99 $492,143.92
193 $492,143.92 $1,425.42 $0.00 $2,782.65 $496,351.99
194 $496,351.99 $1,425.42 $0.00 $2,806.45 $500,583.86
195 $500,583.86 $1,425.42 $0.00 $2,830.37 $504,839.65
196 $504,839.65 $1,425.42 $0.00 $2,854.44 $509,119.51
197 $509,119.51 $1,425.42 $0.00 $2,878.64 $513,423.57
198 $513,423.57 $1,425.42 $0.00 $2,902.97 $517,751.96
199 $517,751.96 $1,425.42 $0.00 $2,927.44 $522,104.82
200 $522,104.82 $1,425.42 $0.00 $2,952.06 $526,482.30
201 $526,482.30 $1,425.42 $0.00 $2,976.81 $530,884.53
202 $530,884.53 $1,425.42 $0.00 $3,001.70 $535,311.65
203 $535,311.65 $1,425.42 $0.00 $3,026.73 $539,763.80
204 $539,763.80 $1,425.42 $0.00 $3,051.90 $544,241.12
205 $544,241.12 $1,425.42 $0.00 $3,077.22 $548,743.76
206 $548,743.76 $1,425.42 $0.00 $3,102.68 $553,271.86
207 $553,271.86 $1,425.42 $0.00 $3,128.28 $557,825.56
208 $557,825.56 $1,425.42 $0.00 $3,154.03 $562,405.01
209 $562,405.01 $1,425.42 $0.00 $3,179.92 $567,010.35
210 $567,010.35 $1,425.42 $0.00 $3,205.96 $571,641.73
211 $571,641.73 $1,425.42 $0.00 $3,232.15 $576,299.30
212 $576,299.30 $1,425.42 $0.00 $3,258.48 $580,983.20
213 $580,983.20 $1,425.42 $0.00 $3,284.96 $585,693.58
214 $585,693.58 $1,425.42 $0.00 $3,311.60 $590,430.60
215 $590,430.60 $1,425.42 $0.00 $3,338.38 $595,194.40
216 $595,194.40 $1,425.42 $0.00 $3,365.32 $599,985.14
217 $599,985.14 $1,425.42 $167,115.64 $3,392.40 $437,687.32
218 $437,687.32 $1,425.42 $0.00 $2,474.75 $441,587.49
219 $441,587.49 $1,425.42 $0.00 $2,496.80 $445,509.71
220 $445,509.71 $1,425.42 $0.00 $2,518.98 $449,454.11
221 $449,454.11 $1,425.42 $0.00 $2,541.28 $453,420.81
222 $453,420.81 $1,425.42 $0.00 $2,563.71 $457,409.94
223 $457,409.94 $1,425.42 $0.00 $2,586.26 $461,421.62
224 $461,421.62 $1,425.42 $0.00 $2,608.94 $465,455.98
225 $465,455.98 $1,425.42 $0.00 $2,631.76 $469,513.16
226 $469,513.16 $1,425.42 $0.00 $2,654.70 $473,593.28
227 $473,593.28 $1,425.42 $0.00 $2,677.77 $477,696.47
228 $477,696.47 $1,425.42 $0.00 $2,700.97 $481,822.86
229 $481,822.86 $1,425.42 $175,471.42 $2,724.30 $310,501.16
230 $310,501.16 $1,425.42 $0.00 $1,755.62 $313,682.20
231 $313,682.20 $1,425.42 $0.00 $1,773.60 $316,881.22
232 $316,881.22 $1,425.42 $0.00 $1,791.69 $320,098.33
233 $320,098.33 $1,425.42 $0.00 $1,809.88 $323,333.63
234 $323,333.63 $1,425.42 $0.00 $1,828.18 $326,587.23
235 $326,587.23 $1,425.42 $0.00 $1,846.57 $329,859.22
236 $329,859.22 $1,425.42 $0.00 $1,865.07 $333,149.71
237 $333,149.71 $1,425.42 $0.00 $1,883.68 $336,458.81
238 $336,458.81 $1,425.42 $0.00 $1,902.39 $339,786.62
239 $339,786.62 $1,425.42 $0.00 $1,921.20 $343,133.24
240 $343,133.24 $1,425.42 $0.00 $1,940.13 $346,498.79
241 $346,498.79 $1,425.42 $184,244.99 $1,959.15 $165,638.37
242 $165,638.37 $1,425.42 $0.00 $936.54 $168,000.33
243 $168,000.33 $1,425.42 $0.00 $949.90 $170,375.65
244 $170,375.65 $1,425.42 $0.00 $963.33 $172,764.40
245 $172,764.40 $1,425.42 $0.00 $976.84 $175,166.66
246 $175,166.66 $1,425.42 $0.00 $990.42 $177,582.50
247 $177,582.50 $1,425.42 $0.00 $1,004.08 $180,012.00
248 $180,012.00 $1,425.42 $0.00 $1,017.81 $182,455.23
249 $182,455.23 $1,425.42 $0.00 $1,031.63 $184,912.28
250 $184,912.28 $1,425.42 $0.00 $1,045.52 $187,383.22
251 $187,383.22 $1,425.42 $0.00 $1,059.49 $189,868.13
252 $189,868.13 $1,425.42 $0.00 $1,073.54 $192,367.09
253 $192,367.09 $0.00 $193,457.24 $1,087.67 ($2.48)