Savings Plan and Future Cost Estimation for Monmouth College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$210,109
Monthly savings required$1,661

How much will it cost to send your child to Monmouth College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $840,435.60 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,660.53 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$56,004.00
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 $1,660.53 $0.00 $0.00 $1,660.53
2 $1,660.53 $1,660.53 $0.00 $9.39 $3,330.45
3 $3,330.45 $1,660.53 $0.00 $18.83 $5,009.81
4 $5,009.81 $1,660.53 $0.00 $28.33 $6,698.67
5 $6,698.67 $1,660.53 $0.00 $37.88 $8,397.08
6 $8,397.08 $1,660.53 $0.00 $47.48 $10,105.09
7 $10,105.09 $1,660.53 $0.00 $57.14 $11,822.76
8 $11,822.76 $1,660.53 $0.00 $66.85 $13,550.14
9 $13,550.14 $1,660.53 $0.00 $76.61 $15,287.28
10 $15,287.28 $1,660.53 $0.00 $86.44 $17,034.25
11 $17,034.25 $1,660.53 $0.00 $96.31 $18,791.09
12 $18,791.09 $1,660.53 $0.00 $106.25 $20,557.87
13 $20,557.87 $1,660.53 $0.00 $116.24 $22,334.64
14 $22,334.64 $1,660.53 $0.00 $126.28 $24,121.45
15 $24,121.45 $1,660.53 $0.00 $136.39 $25,918.37
16 $25,918.37 $1,660.53 $0.00 $146.55 $27,725.45
17 $27,725.45 $1,660.53 $0.00 $156.76 $29,542.74
18 $29,542.74 $1,660.53 $0.00 $167.04 $31,370.31
19 $31,370.31 $1,660.53 $0.00 $177.37 $33,208.21
20 $33,208.21 $1,660.53 $0.00 $187.76 $35,056.50
21 $35,056.50 $1,660.53 $0.00 $198.21 $36,915.24
22 $36,915.24 $1,660.53 $0.00 $208.72 $38,784.49
23 $38,784.49 $1,660.53 $0.00 $219.29 $40,664.31
24 $40,664.31 $1,660.53 $0.00 $229.92 $42,554.76
25 $42,554.76 $1,660.53 $0.00 $240.61 $44,455.90
26 $44,455.90 $1,660.53 $0.00 $251.36 $46,367.79
27 $46,367.79 $1,660.53 $0.00 $262.17 $48,290.49
28 $48,290.49 $1,660.53 $0.00 $273.04 $50,224.06
29 $50,224.06 $1,660.53 $0.00 $283.97 $52,168.56
30 $52,168.56 $1,660.53 $0.00 $294.97 $54,124.06
31 $54,124.06 $1,660.53 $0.00 $306.03 $56,090.62
32 $56,090.62 $1,660.53 $0.00 $317.14 $58,068.29
33 $58,068.29 $1,660.53 $0.00 $328.33 $60,057.15
34 $60,057.15 $1,660.53 $0.00 $339.57 $62,057.25
35 $62,057.25 $1,660.53 $0.00 $350.88 $64,068.66
36 $64,068.66 $1,660.53 $0.00 $362.25 $66,091.44
37 $66,091.44 $1,660.53 $0.00 $373.69 $68,125.66
38 $68,125.66 $1,660.53 $0.00 $385.19 $70,171.38
39 $70,171.38 $1,660.53 $0.00 $396.76 $72,228.67
40 $72,228.67 $1,660.53 $0.00 $408.39 $74,297.59
41 $74,297.59 $1,660.53 $0.00 $420.09 $76,378.21
42 $76,378.21 $1,660.53 $0.00 $431.85 $78,470.59
43 $78,470.59 $1,660.53 $0.00 $443.68 $80,574.80
44 $80,574.80 $1,660.53 $0.00 $455.58 $82,690.91
45 $82,690.91 $1,660.53 $0.00 $467.55 $84,818.99
46 $84,818.99 $1,660.53 $0.00 $479.58 $86,959.10
47 $86,959.10 $1,660.53 $0.00 $491.68 $89,111.31
48 $89,111.31 $1,660.53 $0.00 $503.85 $91,275.69
49 $91,275.69 $1,660.53 $0.00 $516.09 $93,452.31
50 $93,452.31 $1,660.53 $0.00 $528.39 $95,641.23
51 $95,641.23 $1,660.53 $0.00 $540.77 $97,842.53
52 $97,842.53 $1,660.53 $0.00 $553.22 $100,056.28
53 $100,056.28 $1,660.53 $0.00 $565.73 $102,282.54
54 $102,282.54 $1,660.53 $0.00 $578.32 $104,521.39
55 $104,521.39 $1,660.53 $0.00 $590.98 $106,772.90
56 $106,772.90 $1,660.53 $0.00 $603.71 $109,037.14
57 $109,037.14 $1,660.53 $0.00 $616.51 $111,314.18
58 $111,314.18 $1,660.53 $0.00 $629.39 $113,604.10
59 $113,604.10 $1,660.53 $0.00 $642.33 $115,906.96
60 $115,906.96 $1,660.53 $0.00 $655.35 $118,222.84
61 $118,222.84 $1,660.53 $0.00 $668.45 $120,551.82
62 $120,551.82 $1,660.53 $0.00 $681.62 $122,893.97
63 $122,893.97 $1,660.53 $0.00 $694.86 $125,249.36
64 $125,249.36 $1,660.53 $0.00 $708.18 $127,618.07
65 $127,618.07 $1,660.53 $0.00 $721.57 $130,000.17
66 $130,000.17 $1,660.53 $0.00 $735.04 $132,395.74
67 $132,395.74 $1,660.53 $0.00 $748.58 $134,804.85
68 $134,804.85 $1,660.53 $0.00 $762.21 $137,227.59
69 $137,227.59 $1,660.53 $0.00 $775.90 $139,664.02
70 $139,664.02 $1,660.53 $0.00 $789.68 $142,114.23
71 $142,114.23 $1,660.53 $0.00 $803.53 $144,578.29
72 $144,578.29 $1,660.53 $0.00 $817.47 $147,056.29
73 $147,056.29 $1,660.53 $0.00 $831.48 $149,548.30
74 $149,548.30 $1,660.53 $0.00 $845.57 $152,054.40
75 $152,054.40 $1,660.53 $0.00 $859.74 $154,574.67
76 $154,574.67 $1,660.53 $0.00 $873.99 $157,109.19
77 $157,109.19 $1,660.53 $0.00 $888.32 $159,658.04
78 $159,658.04 $1,660.53 $0.00 $902.73 $162,221.30
79 $162,221.30 $1,660.53 $0.00 $917.22 $164,799.05
80 $164,799.05 $1,660.53 $0.00 $931.80 $167,391.38
81 $167,391.38 $1,660.53 $0.00 $946.46 $169,998.37
82 $169,998.37 $1,660.53 $0.00 $961.20 $172,620.10
83 $172,620.10 $1,660.53 $0.00 $976.02 $175,256.65
84 $175,256.65 $1,660.53 $0.00 $990.93 $177,908.11
85 $177,908.11 $1,660.53 $0.00 $1,005.92 $180,574.56
86 $180,574.56 $1,660.53 $0.00 $1,020.99 $183,256.08
87 $183,256.08 $1,660.53 $0.00 $1,036.16 $185,952.77
88 $185,952.77 $1,660.53 $0.00 $1,051.40 $188,664.70
89 $188,664.70 $1,660.53 $0.00 $1,066.74 $191,391.97
90 $191,391.97 $1,660.53 $0.00 $1,082.16 $194,134.66
91 $194,134.66 $1,660.53 $0.00 $1,097.67 $196,892.86
92 $196,892.86 $1,660.53 $0.00 $1,113.26 $199,666.65
93 $199,666.65 $1,660.53 $0.00 $1,128.94 $202,456.12
94 $202,456.12 $1,660.53 $0.00 $1,144.72 $205,261.37
95 $205,261.37 $1,660.53 $0.00 $1,160.58 $208,082.48
96 $208,082.48 $1,660.53 $0.00 $1,176.53 $210,919.54
97 $210,919.54 $1,660.53 $0.00 $1,192.57 $213,772.64
98 $213,772.64 $1,660.53 $0.00 $1,208.70 $216,641.87
99 $216,641.87 $1,660.53 $0.00 $1,224.92 $219,527.32
100 $219,527.32 $1,660.53 $0.00 $1,241.24 $222,429.09
101 $222,429.09 $1,660.53 $0.00 $1,257.65 $225,347.27
102 $225,347.27 $1,660.53 $0.00 $1,274.15 $228,281.95
103 $228,281.95 $1,660.53 $0.00 $1,290.74 $231,233.22
104 $231,233.22 $1,660.53 $0.00 $1,307.43 $234,201.18
105 $234,201.18 $1,660.53 $0.00 $1,324.21 $237,185.92
106 $237,185.92 $1,660.53 $0.00 $1,341.08 $240,187.53
107 $240,187.53 $1,660.53 $0.00 $1,358.06 $243,206.12
108 $243,206.12 $1,660.53 $0.00 $1,375.12 $246,241.77
109 $246,241.77 $1,660.53 $0.00 $1,392.29 $249,294.59
110 $249,294.59 $1,660.53 $0.00 $1,409.55 $252,364.67
111 $252,364.67 $1,660.53 $0.00 $1,426.91 $255,452.11
112 $255,452.11 $1,660.53 $0.00 $1,444.36 $258,557.00
113 $258,557.00 $1,660.53 $0.00 $1,461.92 $261,679.45
114 $261,679.45 $1,660.53 $0.00 $1,479.57 $264,819.55
115 $264,819.55 $1,660.53 $0.00 $1,497.33 $267,977.41
116 $267,977.41 $1,660.53 $0.00 $1,515.18 $271,153.12
117 $271,153.12 $1,660.53 $0.00 $1,533.14 $274,346.79
118 $274,346.79 $1,660.53 $0.00 $1,551.20 $277,558.52
119 $277,558.52 $1,660.53 $0.00 $1,569.36 $280,788.41
120 $280,788.41 $1,660.53 $0.00 $1,587.62 $284,036.56
121 $284,036.56 $1,660.53 $0.00 $1,605.98 $287,303.07
122 $287,303.07 $1,660.53 $0.00 $1,624.45 $290,588.05
123 $290,588.05 $1,660.53 $0.00 $1,643.03 $293,891.61
124 $293,891.61 $1,660.53 $0.00 $1,661.71 $297,213.85
125 $297,213.85 $1,660.53 $0.00 $1,680.49 $300,554.87
126 $300,554.87 $1,660.53 $0.00 $1,699.38 $303,914.78
127 $303,914.78 $1,660.53 $0.00 $1,718.38 $307,293.69
128 $307,293.69 $1,660.53 $0.00 $1,737.48 $310,691.70
129 $310,691.70 $1,660.53 $0.00 $1,756.70 $314,108.93
130 $314,108.93 $1,660.53 $0.00 $1,776.02 $317,545.48
131 $317,545.48 $1,660.53 $0.00 $1,795.45 $321,001.46
132 $321,001.46 $1,660.53 $0.00 $1,814.99 $324,476.98
133 $324,476.98 $1,660.53 $0.00 $1,834.64 $327,972.15
134 $327,972.15 $1,660.53 $0.00 $1,854.40 $331,487.08
135 $331,487.08 $1,660.53 $0.00 $1,874.28 $335,021.89
136 $335,021.89 $1,660.53 $0.00 $1,894.26 $338,576.68
137 $338,576.68 $1,660.53 $0.00 $1,914.36 $342,151.57
138 $342,151.57 $1,660.53 $0.00 $1,934.57 $345,746.67
139 $345,746.67 $1,660.53 $0.00 $1,954.90 $349,362.10
140 $349,362.10 $1,660.53 $0.00 $1,975.34 $352,997.97
141 $352,997.97 $1,660.53 $0.00 $1,995.90 $356,654.40
142 $356,654.40 $1,660.53 $0.00 $2,016.58 $360,331.51
143 $360,331.51 $1,660.53 $0.00 $2,037.37 $364,029.41
144 $364,029.41 $1,660.53 $0.00 $2,058.28 $367,748.22
145 $367,748.22 $1,660.53 $0.00 $2,079.30 $371,488.05
146 $371,488.05 $1,660.53 $0.00 $2,100.45 $375,249.03
147 $375,249.03 $1,660.53 $0.00 $2,121.71 $379,031.27
148 $379,031.27 $1,660.53 $0.00 $2,143.10 $382,834.90
149 $382,834.90 $1,660.53 $0.00 $2,164.60 $386,660.03
150 $386,660.03 $1,660.53 $0.00 $2,186.23 $390,506.79
151 $390,506.79 $1,660.53 $0.00 $2,207.98 $394,375.30
152 $394,375.30 $1,660.53 $0.00 $2,229.86 $398,265.69
153 $398,265.69 $1,660.53 $0.00 $2,251.85 $402,178.07
154 $402,178.07 $1,660.53 $0.00 $2,273.97 $406,112.57
155 $406,112.57 $1,660.53 $0.00 $2,296.22 $410,069.32
156 $410,069.32 $1,660.53 $0.00 $2,318.59 $414,048.44
157 $414,048.44 $1,660.53 $0.00 $2,341.09 $418,050.06
158 $418,050.06 $1,660.53 $0.00 $2,363.72 $422,074.31
159 $422,074.31 $1,660.53 $0.00 $2,386.47 $426,121.31
160 $426,121.31 $1,660.53 $0.00 $2,409.35 $430,191.19
161 $430,191.19 $1,660.53 $0.00 $2,432.36 $434,284.08
162 $434,284.08 $1,660.53 $0.00 $2,455.51 $438,400.12
163 $438,400.12 $1,660.53 $0.00 $2,478.78 $442,539.43
164 $442,539.43 $1,660.53 $0.00 $2,502.18 $446,702.14
165 $446,702.14 $1,660.53 $0.00 $2,525.72 $450,888.39
166 $450,888.39 $1,660.53 $0.00 $2,549.39 $455,098.31
167 $455,098.31 $1,660.53 $0.00 $2,573.19 $459,332.03
168 $459,332.03 $1,660.53 $0.00 $2,597.13 $463,589.69
169 $463,589.69 $1,660.53 $0.00 $2,621.20 $467,871.42
170 $467,871.42 $1,660.53 $0.00 $2,645.41 $472,177.36
171 $472,177.36 $1,660.53 $0.00 $2,669.76 $476,507.65
172 $476,507.65 $1,660.53 $0.00 $2,694.24 $480,862.42
173 $480,862.42 $1,660.53 $0.00 $2,718.87 $485,241.82
174 $485,241.82 $1,660.53 $0.00 $2,743.63 $489,645.98
175 $489,645.98 $1,660.53 $0.00 $2,768.53 $494,075.04
176 $494,075.04 $1,660.53 $0.00 $2,793.57 $498,529.14
177 $498,529.14 $1,660.53 $0.00 $2,818.76 $503,008.43
178 $503,008.43 $1,660.53 $0.00 $2,844.08 $507,513.04
179 $507,513.04 $1,660.53 $0.00 $2,869.55 $512,043.12
180 $512,043.12 $1,660.53 $0.00 $2,895.17 $516,598.82
181 $516,598.82 $1,660.53 $0.00 $2,920.92 $521,180.27
182 $521,180.27 $1,660.53 $0.00 $2,946.83 $525,787.63
183 $525,787.63 $1,660.53 $0.00 $2,972.88 $530,421.04
184 $530,421.04 $1,660.53 $0.00 $2,999.08 $535,080.65
185 $535,080.65 $1,660.53 $0.00 $3,025.42 $539,766.60
186 $539,766.60 $1,660.53 $0.00 $3,051.92 $544,479.05
187 $544,479.05 $1,660.53 $0.00 $3,078.56 $549,218.14
188 $549,218.14 $1,660.53 $0.00 $3,105.36 $553,984.03
189 $553,984.03 $1,660.53 $0.00 $3,132.31 $558,776.87
190 $558,776.87 $1,660.53 $0.00 $3,159.41 $563,596.81
191 $563,596.81 $1,660.53 $0.00 $3,186.66 $568,444.00
192 $568,444.00 $1,660.53 $0.00 $3,214.07 $573,318.60
193 $573,318.60 $1,660.53 $0.00 $3,241.63 $578,220.76
194 $578,220.76 $1,660.53 $0.00 $3,269.34 $583,150.63
195 $583,150.63 $1,660.53 $0.00 $3,297.22 $588,108.38
196 $588,108.38 $1,660.53 $0.00 $3,325.25 $593,094.16
197 $593,094.16 $1,660.53 $0.00 $3,353.44 $598,108.13
198 $598,108.13 $1,660.53 $0.00 $3,381.79 $603,150.45
199 $603,150.45 $1,660.53 $0.00 $3,410.30 $608,221.28
200 $608,221.28 $1,660.53 $0.00 $3,438.97 $613,320.78
201 $613,320.78 $1,660.53 $0.00 $3,467.80 $618,449.11
202 $618,449.11 $1,660.53 $0.00 $3,496.80 $623,606.44
203 $623,606.44 $1,660.53 $0.00 $3,525.96 $628,792.93
204 $628,792.93 $1,660.53 $0.00 $3,555.29 $634,008.75
205 $634,008.75 $1,660.53 $0.00 $3,584.78 $639,254.06
206 $639,254.06 $1,660.53 $0.00 $3,614.44 $644,529.03
207 $644,529.03 $1,660.53 $0.00 $3,644.26 $649,833.82
208 $649,833.82 $1,660.53 $0.00 $3,674.25 $655,168.60
209 $655,168.60 $1,660.53 $0.00 $3,704.42 $660,533.55
210 $660,533.55 $1,660.53 $0.00 $3,734.75 $665,928.83
211 $665,928.83 $1,660.53 $0.00 $3,765.26 $671,354.62
212 $671,354.62 $1,660.53 $0.00 $3,795.94 $676,811.09
213 $676,811.09 $1,660.53 $0.00 $3,826.79 $682,298.41
214 $682,298.41 $1,660.53 $0.00 $3,857.81 $687,816.75
215 $687,816.75 $1,660.53 $0.00 $3,889.02 $693,366.30
216 $693,366.30 $1,660.53 $0.00 $3,920.39 $698,947.22
217 $698,947.22 $1,660.53 $189,289.73 $3,951.95 $515,269.97
218 $515,269.97 $1,660.53 $0.00 $2,913.41 $519,843.91
219 $519,843.91 $1,660.53 $0.00 $2,939.27 $524,443.71
220 $524,443.71 $1,660.53 $0.00 $2,965.28 $529,069.52
221 $529,069.52 $1,660.53 $0.00 $2,991.44 $533,721.49
222 $533,721.49 $1,660.53 $0.00 $3,017.74 $538,399.76
223 $538,399.76 $1,660.53 $0.00 $3,044.19 $543,104.48
224 $543,104.48 $1,660.53 $0.00 $3,070.79 $547,835.80
225 $547,835.80 $1,660.53 $0.00 $3,097.54 $552,593.87
226 $552,593.87 $1,660.53 $0.00 $3,124.45 $557,378.85
227 $557,378.85 $1,660.53 $0.00 $3,151.50 $562,190.88
228 $562,190.88 $1,660.53 $0.00 $3,178.71 $567,030.12
229 $567,030.12 $1,660.53 $202,540.01 $3,206.07 $369,356.71
230 $369,356.71 $1,660.53 $0.00 $2,088.40 $373,105.64
231 $373,105.64 $1,660.53 $0.00 $2,109.59 $376,875.76
232 $376,875.76 $1,660.53 $0.00 $2,130.91 $380,667.20
233 $380,667.20 $1,660.53 $0.00 $2,152.35 $384,480.08
234 $384,480.08 $1,660.53 $0.00 $2,173.91 $388,314.52
235 $388,314.52 $1,660.53 $0.00 $2,195.59 $392,170.64
236 $392,170.64 $1,660.53 $0.00 $2,217.39 $396,048.56
237 $396,048.56 $1,660.53 $0.00 $2,239.32 $399,948.41
238 $399,948.41 $1,660.53 $0.00 $2,261.37 $403,870.31
239 $403,870.31 $1,660.53 $0.00 $2,283.54 $407,814.38
240 $407,814.38 $1,660.53 $0.00 $2,305.84 $411,780.75
241 $411,780.75 $1,660.53 $216,717.81 $2,328.27 $199,051.74
242 $199,051.74 $1,660.53 $0.00 $1,125.47 $201,837.74
243 $201,837.74 $1,660.53 $0.00 $1,141.22 $204,639.49
244 $204,639.49 $1,660.53 $0.00 $1,157.06 $207,457.08
245 $207,457.08 $1,660.53 $0.00 $1,172.99 $210,290.60
246 $210,290.60 $1,660.53 $0.00 $1,189.01 $213,140.14
247 $213,140.14 $1,660.53 $0.00 $1,205.13 $216,005.80
248 $216,005.80 $1,660.53 $0.00 $1,221.33 $218,887.66
249 $218,887.66 $1,660.53 $0.00 $1,237.62 $221,785.81
250 $221,785.81 $1,660.53 $0.00 $1,254.01 $224,700.35
251 $224,700.35 $1,660.53 $0.00 $1,270.49 $227,631.37
252 $227,631.37 $1,660.53 $0.00 $1,287.06 $230,578.96
253 $230,578.96 $0.00 $231,888.06 $1,303.73 -$5.37