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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$44,258
Monthly savings required$350

How much will it cost to send your child to Gordon College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $177,033.08 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $350.33 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$17,067.00
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 $350.33 $0.00 $0.00 $350.33
2 $350.33 $350.33 $0.00 $1.98 $702.64
3 $702.64 $350.33 $0.00 $3.97 $1,056.94
4 $1,056.94 $350.33 $0.00 $5.98 $1,413.25
5 $1,413.25 $350.33 $0.00 $7.99 $1,771.57
6 $1,771.57 $350.33 $0.00 $10.02 $2,131.92
7 $2,131.92 $350.33 $0.00 $12.05 $2,494.30
8 $2,494.30 $350.33 $0.00 $14.10 $2,858.73
9 $2,858.73 $350.33 $0.00 $16.16 $3,225.22
10 $3,225.22 $350.33 $0.00 $18.24 $3,593.79
11 $3,593.79 $350.33 $0.00 $20.32 $3,964.44
12 $3,964.44 $350.33 $0.00 $22.42 $4,337.19
13 $4,337.19 $350.33 $0.00 $24.52 $4,712.04
14 $4,712.04 $350.33 $0.00 $26.64 $5,089.01
15 $5,089.01 $350.33 $0.00 $28.77 $5,468.11
16 $5,468.11 $350.33 $0.00 $30.92 $5,849.36
17 $5,849.36 $350.33 $0.00 $33.07 $6,232.76
18 $6,232.76 $350.33 $0.00 $35.24 $6,618.33
19 $6,618.33 $350.33 $0.00 $37.42 $7,006.08
20 $7,006.08 $350.33 $0.00 $39.61 $7,396.02
21 $7,396.02 $350.33 $0.00 $41.82 $7,788.17
22 $7,788.17 $350.33 $0.00 $44.04 $8,182.54
23 $8,182.54 $350.33 $0.00 $46.27 $8,579.14
24 $8,579.14 $350.33 $0.00 $48.51 $8,977.98
25 $8,977.98 $350.33 $0.00 $50.76 $9,379.07
26 $9,379.07 $350.33 $0.00 $53.03 $9,782.43
27 $9,782.43 $350.33 $0.00 $55.31 $10,188.07
28 $10,188.07 $350.33 $0.00 $57.60 $10,596.00
29 $10,596.00 $350.33 $0.00 $59.91 $11,006.24
30 $11,006.24 $350.33 $0.00 $62.23 $11,418.80
31 $11,418.80 $350.33 $0.00 $64.56 $11,833.69
32 $11,833.69 $350.33 $0.00 $66.91 $12,250.93
33 $12,250.93 $350.33 $0.00 $69.27 $12,670.53
34 $12,670.53 $350.33 $0.00 $71.64 $13,092.50
35 $13,092.50 $350.33 $0.00 $74.03 $13,516.86
36 $13,516.86 $350.33 $0.00 $76.43 $13,943.62
37 $13,943.62 $350.33 $0.00 $78.84 $14,372.79
38 $14,372.79 $350.33 $0.00 $81.27 $14,804.39
39 $14,804.39 $350.33 $0.00 $83.71 $15,238.43
40 $15,238.43 $350.33 $0.00 $86.16 $15,674.92
41 $15,674.92 $350.33 $0.00 $88.63 $16,113.88
42 $16,113.88 $350.33 $0.00 $91.11 $16,555.32
43 $16,555.32 $350.33 $0.00 $93.61 $16,999.26
44 $16,999.26 $350.33 $0.00 $96.12 $17,445.71
45 $17,445.71 $350.33 $0.00 $98.64 $17,894.68
46 $17,894.68 $350.33 $0.00 $101.18 $18,346.19
47 $18,346.19 $350.33 $0.00 $103.73 $18,800.25
48 $18,800.25 $350.33 $0.00 $106.30 $19,256.88
49 $19,256.88 $350.33 $0.00 $108.88 $19,716.09
50 $19,716.09 $350.33 $0.00 $111.48 $20,177.90
51 $20,177.90 $350.33 $0.00 $114.09 $20,642.32
52 $20,642.32 $350.33 $0.00 $116.71 $21,109.36
53 $21,109.36 $350.33 $0.00 $119.36 $21,579.05
54 $21,579.05 $350.33 $0.00 $122.01 $22,051.39
55 $22,051.39 $350.33 $0.00 $124.68 $22,526.40
56 $22,526.40 $350.33 $0.00 $127.37 $23,004.10
57 $23,004.10 $350.33 $0.00 $130.07 $23,484.50
58 $23,484.50 $350.33 $0.00 $132.78 $23,967.61
59 $23,967.61 $350.33 $0.00 $135.52 $24,453.46
60 $24,453.46 $350.33 $0.00 $138.26 $24,942.05
61 $24,942.05 $350.33 $0.00 $141.03 $25,433.41
62 $25,433.41 $350.33 $0.00 $143.80 $25,927.54
63 $25,927.54 $350.33 $0.00 $146.60 $26,424.47
64 $26,424.47 $350.33 $0.00 $149.41 $26,924.21
65 $26,924.21 $350.33 $0.00 $152.23 $27,426.77
66 $27,426.77 $350.33 $0.00 $155.07 $27,932.17
67 $27,932.17 $350.33 $0.00 $157.93 $28,440.43
68 $28,440.43 $350.33 $0.00 $160.81 $28,951.57
69 $28,951.57 $350.33 $0.00 $163.70 $29,465.60
70 $29,465.60 $350.33 $0.00 $166.60 $29,982.53
71 $29,982.53 $350.33 $0.00 $169.53 $30,502.39
72 $30,502.39 $350.33 $0.00 $172.46 $31,025.18
73 $31,025.18 $350.33 $0.00 $175.42 $31,550.93
74 $31,550.93 $350.33 $0.00 $178.39 $32,079.65
75 $32,079.65 $350.33 $0.00 $181.38 $32,611.36
76 $32,611.36 $350.33 $0.00 $184.39 $33,146.08
77 $33,146.08 $350.33 $0.00 $187.41 $33,683.82
78 $33,683.82 $350.33 $0.00 $190.45 $34,224.60
79 $34,224.60 $350.33 $0.00 $193.51 $34,768.44
80 $34,768.44 $350.33 $0.00 $196.59 $35,315.36
81 $35,315.36 $350.33 $0.00 $199.68 $35,865.37
82 $35,865.37 $350.33 $0.00 $202.79 $36,418.49
83 $36,418.49 $350.33 $0.00 $205.92 $36,974.74
84 $36,974.74 $350.33 $0.00 $209.06 $37,534.13
85 $37,534.13 $350.33 $0.00 $212.22 $38,096.68
86 $38,096.68 $350.33 $0.00 $215.40 $38,662.41
87 $38,662.41 $350.33 $0.00 $218.60 $39,231.34
88 $39,231.34 $350.33 $0.00 $221.82 $39,803.49
89 $39,803.49 $350.33 $0.00 $225.05 $40,378.87
90 $40,378.87 $350.33 $0.00 $228.31 $40,957.51
91 $40,957.51 $350.33 $0.00 $231.58 $41,539.42
92 $41,539.42 $350.33 $0.00 $234.87 $42,124.62
93 $42,124.62 $350.33 $0.00 $238.18 $42,713.13
94 $42,713.13 $350.33 $0.00 $241.51 $43,304.97
95 $43,304.97 $350.33 $0.00 $244.85 $43,900.15
96 $43,900.15 $350.33 $0.00 $248.22 $44,498.70
97 $44,498.70 $350.33 $0.00 $251.60 $45,100.63
98 $45,100.63 $350.33 $0.00 $255.01 $45,705.97
99 $45,705.97 $350.33 $0.00 $258.43 $46,314.73
100 $46,314.73 $350.33 $0.00 $261.87 $46,926.93
101 $46,926.93 $350.33 $0.00 $265.33 $47,542.59
102 $47,542.59 $350.33 $0.00 $268.81 $48,161.73
103 $48,161.73 $350.33 $0.00 $272.31 $48,784.37
104 $48,784.37 $350.33 $0.00 $275.83 $49,410.53
105 $49,410.53 $350.33 $0.00 $279.37 $50,040.23
106 $50,040.23 $350.33 $0.00 $282.93 $50,673.49
107 $50,673.49 $350.33 $0.00 $286.52 $51,310.34
108 $51,310.34 $350.33 $0.00 $290.12 $51,950.79
109 $51,950.79 $350.33 $0.00 $293.74 $52,594.86
110 $52,594.86 $350.33 $0.00 $297.38 $53,242.57
111 $53,242.57 $350.33 $0.00 $301.04 $53,893.94
112 $53,893.94 $350.33 $0.00 $304.72 $54,548.99
113 $54,548.99 $350.33 $0.00 $308.43 $55,207.75
114 $55,207.75 $350.33 $0.00 $312.15 $55,870.23
115 $55,870.23 $350.33 $0.00 $315.90 $56,536.46
116 $56,536.46 $350.33 $0.00 $319.67 $57,206.46
117 $57,206.46 $350.33 $0.00 $323.45 $57,880.24
118 $57,880.24 $350.33 $0.00 $327.26 $58,557.83
119 $58,557.83 $350.33 $0.00 $331.09 $59,239.25
120 $59,239.25 $350.33 $0.00 $334.95 $59,924.53
121 $59,924.53 $350.33 $0.00 $338.82 $60,613.68
122 $60,613.68 $350.33 $0.00 $342.72 $61,306.73
123 $61,306.73 $350.33 $0.00 $346.64 $62,003.70
124 $62,003.70 $350.33 $0.00 $350.58 $62,704.61
125 $62,704.61 $350.33 $0.00 $354.54 $63,409.48
126 $63,409.48 $350.33 $0.00 $358.53 $64,118.34
127 $64,118.34 $350.33 $0.00 $362.53 $64,831.20
128 $64,831.20 $350.33 $0.00 $366.57 $65,548.10
129 $65,548.10 $350.33 $0.00 $370.62 $66,269.05
130 $66,269.05 $350.33 $0.00 $374.69 $66,994.07
131 $66,994.07 $350.33 $0.00 $378.79 $67,723.19
132 $67,723.19 $350.33 $0.00 $382.92 $68,456.44
133 $68,456.44 $350.33 $0.00 $387.06 $69,193.83
134 $69,193.83 $350.33 $0.00 $391.23 $69,935.39
135 $69,935.39 $350.33 $0.00 $395.42 $70,681.14
136 $70,681.14 $350.33 $0.00 $399.64 $71,431.11
137 $71,431.11 $350.33 $0.00 $403.88 $72,185.32
138 $72,185.32 $350.33 $0.00 $408.15 $72,943.80
139 $72,943.80 $350.33 $0.00 $412.43 $73,706.56
140 $73,706.56 $350.33 $0.00 $416.75 $74,473.64
141 $74,473.64 $350.33 $0.00 $421.08 $75,245.05
142 $75,245.05 $350.33 $0.00 $425.45 $76,020.83
143 $76,020.83 $350.33 $0.00 $429.83 $76,800.99
144 $76,800.99 $350.33 $0.00 $434.24 $77,585.56
145 $77,585.56 $350.33 $0.00 $438.68 $78,374.57
146 $78,374.57 $350.33 $0.00 $443.14 $79,168.04
147 $79,168.04 $350.33 $0.00 $447.63 $79,966.00
148 $79,966.00 $350.33 $0.00 $452.14 $80,768.47
149 $80,768.47 $350.33 $0.00 $456.68 $81,575.48
150 $81,575.48 $350.33 $0.00 $461.24 $82,387.05
151 $82,387.05 $350.33 $0.00 $465.83 $83,203.21
152 $83,203.21 $350.33 $0.00 $470.44 $84,023.98
153 $84,023.98 $350.33 $0.00 $475.08 $84,849.39
154 $84,849.39 $350.33 $0.00 $479.75 $85,679.47
155 $85,679.47 $350.33 $0.00 $484.44 $86,514.24
156 $86,514.24 $350.33 $0.00 $489.16 $87,353.73
157 $87,353.73 $350.33 $0.00 $493.91 $88,197.97
158 $88,197.97 $350.33 $0.00 $498.68 $89,046.98
159 $89,046.98 $350.33 $0.00 $503.48 $89,900.79
160 $89,900.79 $350.33 $0.00 $508.31 $90,759.43
161 $90,759.43 $350.33 $0.00 $513.17 $91,622.93
162 $91,622.93 $350.33 $0.00 $518.05 $92,491.31
163 $92,491.31 $350.33 $0.00 $522.96 $93,364.60
164 $93,364.60 $350.33 $0.00 $527.90 $94,242.83
165 $94,242.83 $350.33 $0.00 $532.86 $95,126.02
166 $95,126.02 $350.33 $0.00 $537.86 $96,014.21
167 $96,014.21 $350.33 $0.00 $542.88 $96,907.42
168 $96,907.42 $350.33 $0.00 $547.93 $97,805.68
169 $97,805.68 $350.33 $0.00 $553.01 $98,709.02
170 $98,709.02 $350.33 $0.00 $558.12 $99,617.47
171 $99,617.47 $350.33 $0.00 $563.25 $100,531.05
172 $100,531.05 $350.33 $0.00 $568.42 $101,449.80
173 $101,449.80 $350.33 $0.00 $573.61 $102,373.74
174 $102,373.74 $350.33 $0.00 $578.84 $103,302.91
175 $103,302.91 $350.33 $0.00 $584.09 $104,237.33
176 $104,237.33 $350.33 $0.00 $589.37 $105,177.03
177 $105,177.03 $350.33 $0.00 $594.69 $106,122.05
178 $106,122.05 $350.33 $0.00 $600.03 $107,072.41
179 $107,072.41 $350.33 $0.00 $605.40 $108,028.14
180 $108,028.14 $350.33 $0.00 $610.81 $108,989.28
181 $108,989.28 $350.33 $0.00 $616.24 $109,955.85
182 $109,955.85 $350.33 $0.00 $621.71 $110,927.89
183 $110,927.89 $350.33 $0.00 $627.20 $111,905.42
184 $111,905.42 $350.33 $0.00 $632.73 $112,888.48
185 $112,888.48 $350.33 $0.00 $638.29 $113,877.10
186 $113,877.10 $350.33 $0.00 $643.88 $114,871.31
187 $114,871.31 $350.33 $0.00 $649.50 $115,871.14
188 $115,871.14 $350.33 $0.00 $655.15 $116,876.62
189 $116,876.62 $350.33 $0.00 $660.84 $117,887.79
190 $117,887.79 $350.33 $0.00 $666.55 $118,904.67
191 $118,904.67 $350.33 $0.00 $672.30 $119,927.30
192 $119,927.30 $350.33 $0.00 $678.09 $120,955.72
193 $120,955.72 $350.33 $0.00 $683.90 $121,989.95
194 $121,989.95 $350.33 $0.00 $689.75 $123,030.03
195 $123,030.03 $350.33 $0.00 $695.63 $124,075.99
196 $124,075.99 $350.33 $0.00 $701.54 $125,127.86
197 $125,127.86 $350.33 $0.00 $707.49 $126,185.68
198 $126,185.68 $350.33 $0.00 $713.47 $127,249.48
199 $127,249.48 $350.33 $0.00 $719.49 $128,319.30
200 $128,319.30 $350.33 $0.00 $725.54 $129,395.17
201 $129,395.17 $350.33 $0.00 $731.62 $130,477.12
202 $130,477.12 $350.33 $0.00 $737.74 $131,565.19
203 $131,565.19 $350.33 $0.00 $743.89 $132,659.41
204 $132,659.41 $350.33 $0.00 $750.08 $133,759.82
205 $133,759.82 $350.33 $0.00 $756.30 $134,866.45
206 $134,866.45 $350.33 $0.00 $762.55 $135,979.33
207 $135,979.33 $350.33 $0.00 $768.85 $137,098.51
208 $137,098.51 $350.33 $0.00 $775.17 $138,224.01
209 $138,224.01 $350.33 $0.00 $781.54 $139,355.88
210 $139,355.88 $350.33 $0.00 $787.94 $140,494.15
211 $140,494.15 $350.33 $0.00 $794.37 $141,638.85
212 $141,638.85 $350.33 $0.00 $800.85 $142,790.03
213 $142,790.03 $350.33 $0.00 $807.36 $143,947.72
214 $143,947.72 $350.33 $0.00 $813.90 $145,111.95
215 $145,111.95 $350.33 $0.00 $820.48 $146,282.76
216 $146,282.76 $350.33 $0.00 $827.10 $147,460.19
217 $147,460.19 $350.33 $41,073.77 $833.76 $107,570.51
218 $107,570.51 $350.33 $0.00 $608.22 $108,529.06
219 $108,529.06 $350.33 $0.00 $613.64 $109,493.03
220 $109,493.03 $350.33 $0.00 $619.09 $110,462.45
221 $110,462.45 $350.33 $0.00 $624.57 $111,437.35
222 $111,437.35 $350.33 $0.00 $630.08 $112,417.76
223 $112,417.76 $350.33 $0.00 $635.63 $113,403.72
224 $113,403.72 $350.33 $0.00 $641.20 $114,395.25
225 $114,395.25 $350.33 $0.00 $646.81 $115,392.39
226 $115,392.39 $350.33 $0.00 $652.45 $116,395.17
227 $116,395.17 $350.33 $0.00 $658.12 $117,403.62
228 $117,403.62 $350.33 $0.00 $663.82 $118,417.77
229 $118,417.77 $350.33 $43,127.46 $669.55 $76,310.19
230 $76,310.19 $350.33 $0.00 $431.47 $77,091.99
231 $77,091.99 $350.33 $0.00 $435.89 $77,878.21
232 $77,878.21 $350.33 $0.00 $440.33 $78,668.87
233 $78,668.87 $350.33 $0.00 $444.81 $79,464.01
234 $79,464.01 $350.33 $0.00 $449.30 $80,263.64
235 $80,263.64 $350.33 $0.00 $453.82 $81,067.79
236 $81,067.79 $350.33 $0.00 $458.37 $81,876.49
237 $81,876.49 $350.33 $0.00 $462.94 $82,689.76
238 $82,689.76 $350.33 $0.00 $467.54 $83,507.63
239 $83,507.63 $350.33 $0.00 $472.16 $84,330.12
240 $84,330.12 $350.33 $0.00 $476.81 $85,157.26
241 $85,157.26 $350.33 $45,283.83 $481.49 $40,705.25
242 $40,705.25 $350.33 $0.00 $230.15 $41,285.73
243 $41,285.73 $350.33 $0.00 $233.44 $41,869.50
244 $41,869.50 $350.33 $0.00 $236.74 $42,456.57
245 $42,456.57 $350.33 $0.00 $240.06 $43,046.96
246 $43,046.96 $350.33 $0.00 $243.39 $43,640.68
247 $43,640.68 $350.33 $0.00 $246.75 $44,237.76
248 $44,237.76 $350.33 $0.00 $250.13 $44,838.22
249 $44,838.22 $350.33 $0.00 $253.52 $45,442.07
250 $45,442.07 $350.33 $0.00 $256.94 $46,049.34
251 $46,049.34 $350.33 $0.00 $260.37 $46,660.04
252 $46,660.04 $350.33 $0.00 $263.82 $47,274.19
253 $47,274.19 $0.00 $47,548.02 $267.30 ($6.53)