Savings Plan and Future Cost Estimation for Hood College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$235,868
Monthly savings required$1,864

How much will it cost to send your child to Hood College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $943,471.65 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,864.11 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$62,870.00
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 $1,864.11 $0.00 $0.00 $1,864.11
2 $1,864.11 $1,864.11 $0.00 $10.54 $3,738.76
3 $3,738.76 $1,864.11 $0.00 $21.14 $5,624.01
4 $5,624.01 $1,864.11 $0.00 $31.80 $7,519.92
5 $7,519.92 $1,864.11 $0.00 $42.52 $9,426.55
6 $9,426.55 $1,864.11 $0.00 $53.30 $11,343.96
7 $11,343.96 $1,864.11 $0.00 $64.14 $13,272.21
8 $13,272.21 $1,864.11 $0.00 $75.04 $15,211.36
9 $15,211.36 $1,864.11 $0.00 $86.01 $17,161.48
10 $17,161.48 $1,864.11 $0.00 $97.03 $19,122.62
11 $19,122.62 $1,864.11 $0.00 $108.12 $21,094.85
12 $21,094.85 $1,864.11 $0.00 $119.27 $23,078.23
13 $23,078.23 $1,864.11 $0.00 $130.49 $25,072.83
14 $25,072.83 $1,864.11 $0.00 $141.77 $27,078.71
15 $27,078.71 $1,864.11 $0.00 $153.11 $29,095.93
16 $29,095.93 $1,864.11 $0.00 $164.51 $31,124.55
17 $31,124.55 $1,864.11 $0.00 $175.98 $33,164.64
18 $33,164.64 $1,864.11 $0.00 $187.52 $35,216.27
19 $35,216.27 $1,864.11 $0.00 $199.12 $37,279.50
20 $37,279.50 $1,864.11 $0.00 $210.78 $39,354.39
21 $39,354.39 $1,864.11 $0.00 $222.52 $41,441.02
22 $41,441.02 $1,864.11 $0.00 $234.31 $43,539.44
23 $43,539.44 $1,864.11 $0.00 $246.18 $45,649.73
24 $45,649.73 $1,864.11 $0.00 $258.11 $47,771.95
25 $47,771.95 $1,864.11 $0.00 $270.11 $49,906.17
26 $49,906.17 $1,864.11 $0.00 $282.18 $52,052.46
27 $52,052.46 $1,864.11 $0.00 $294.31 $54,210.88
28 $54,210.88 $1,864.11 $0.00 $306.52 $56,381.51
29 $56,381.51 $1,864.11 $0.00 $318.79 $58,564.41
30 $58,564.41 $1,864.11 $0.00 $331.13 $60,759.65
31 $60,759.65 $1,864.11 $0.00 $343.54 $62,967.30
32 $62,967.30 $1,864.11 $0.00 $356.03 $65,187.44
33 $65,187.44 $1,864.11 $0.00 $368.58 $67,420.13
34 $67,420.13 $1,864.11 $0.00 $381.20 $69,665.44
35 $69,665.44 $1,864.11 $0.00 $393.90 $71,923.45
36 $71,923.45 $1,864.11 $0.00 $406.67 $74,194.23
37 $74,194.23 $1,864.11 $0.00 $419.50 $76,477.84
38 $76,477.84 $1,864.11 $0.00 $432.42 $78,774.37
39 $78,774.37 $1,864.11 $0.00 $445.40 $81,083.88
40 $81,083.88 $1,864.11 $0.00 $458.46 $83,406.45
41 $83,406.45 $1,864.11 $0.00 $471.59 $85,742.15
42 $85,742.15 $1,864.11 $0.00 $484.80 $88,091.06
43 $88,091.06 $1,864.11 $0.00 $498.08 $90,453.25
44 $90,453.25 $1,864.11 $0.00 $511.44 $92,828.80
45 $92,828.80 $1,864.11 $0.00 $524.87 $95,217.78
46 $95,217.78 $1,864.11 $0.00 $538.38 $97,620.27
47 $97,620.27 $1,864.11 $0.00 $551.96 $100,036.34
48 $100,036.34 $1,864.11 $0.00 $565.62 $102,466.07
49 $102,466.07 $1,864.11 $0.00 $579.36 $104,909.54
50 $104,909.54 $1,864.11 $0.00 $593.17 $107,366.82
51 $107,366.82 $1,864.11 $0.00 $607.07 $109,838.00
52 $109,838.00 $1,864.11 $0.00 $621.04 $112,323.15
53 $112,323.15 $1,864.11 $0.00 $635.09 $114,822.35
54 $114,822.35 $1,864.11 $0.00 $649.22 $117,335.68
55 $117,335.68 $1,864.11 $0.00 $663.43 $119,863.22
56 $119,863.22 $1,864.11 $0.00 $677.72 $122,405.05
57 $122,405.05 $1,864.11 $0.00 $692.10 $124,961.26
58 $124,961.26 $1,864.11 $0.00 $706.55 $127,531.92
59 $127,531.92 $1,864.11 $0.00 $721.08 $130,117.11
60 $130,117.11 $1,864.11 $0.00 $735.70 $132,716.92
61 $132,716.92 $1,864.11 $0.00 $750.40 $135,331.43
62 $135,331.43 $1,864.11 $0.00 $765.18 $137,960.72
63 $137,960.72 $1,864.11 $0.00 $780.05 $140,604.88
64 $140,604.88 $1,864.11 $0.00 $795.00 $143,263.99
65 $143,263.99 $1,864.11 $0.00 $810.04 $145,938.14
66 $145,938.14 $1,864.11 $0.00 $825.16 $148,627.41
67 $148,627.41 $1,864.11 $0.00 $840.36 $151,331.88
68 $151,331.88 $1,864.11 $0.00 $855.65 $154,051.64
69 $154,051.64 $1,864.11 $0.00 $871.03 $156,786.78
70 $156,786.78 $1,864.11 $0.00 $886.50 $159,537.39
71 $159,537.39 $1,864.11 $0.00 $902.05 $162,303.55
72 $162,303.55 $1,864.11 $0.00 $917.69 $165,085.35
73 $165,085.35 $1,864.11 $0.00 $933.42 $167,882.88
74 $167,882.88 $1,864.11 $0.00 $949.23 $170,696.22
75 $170,696.22 $1,864.11 $0.00 $965.14 $173,525.47
76 $173,525.47 $1,864.11 $0.00 $981.14 $176,370.72
77 $176,370.72 $1,864.11 $0.00 $997.23 $179,232.06
78 $179,232.06 $1,864.11 $0.00 $1,013.40 $182,109.57
79 $182,109.57 $1,864.11 $0.00 $1,029.67 $185,003.35
80 $185,003.35 $1,864.11 $0.00 $1,046.04 $187,913.50
81 $187,913.50 $1,864.11 $0.00 $1,062.49 $190,840.10
82 $190,840.10 $1,864.11 $0.00 $1,079.04 $193,783.25
83 $193,783.25 $1,864.11 $0.00 $1,095.68 $196,743.04
84 $196,743.04 $1,864.11 $0.00 $1,112.41 $199,719.56
85 $199,719.56 $1,864.11 $0.00 $1,129.24 $202,712.91
86 $202,712.91 $1,864.11 $0.00 $1,146.17 $205,723.19
87 $205,723.19 $1,864.11 $0.00 $1,163.19 $208,750.49
88 $208,750.49 $1,864.11 $0.00 $1,180.31 $211,794.91
89 $211,794.91 $1,864.11 $0.00 $1,197.52 $214,856.54
90 $214,856.54 $1,864.11 $0.00 $1,214.83 $217,935.48
91 $217,935.48 $1,864.11 $0.00 $1,232.24 $221,031.83
92 $221,031.83 $1,864.11 $0.00 $1,249.75 $224,145.69
93 $224,145.69 $1,864.11 $0.00 $1,267.35 $227,277.15
94 $227,277.15 $1,864.11 $0.00 $1,285.06 $230,426.32
95 $230,426.32 $1,864.11 $0.00 $1,302.86 $233,593.29
96 $233,593.29 $1,864.11 $0.00 $1,320.77 $236,778.17
97 $236,778.17 $1,864.11 $0.00 $1,338.78 $239,981.06
98 $239,981.06 $1,864.11 $0.00 $1,356.89 $243,202.06
99 $243,202.06 $1,864.11 $0.00 $1,375.10 $246,441.27
100 $246,441.27 $1,864.11 $0.00 $1,393.41 $249,698.79
101 $249,698.79 $1,864.11 $0.00 $1,411.83 $252,974.73
102 $252,974.73 $1,864.11 $0.00 $1,430.36 $256,269.20
103 $256,269.20 $1,864.11 $0.00 $1,448.98 $259,582.29
104 $259,582.29 $1,864.11 $0.00 $1,467.72 $262,914.12
105 $262,914.12 $1,864.11 $0.00 $1,486.55 $266,264.78
106 $266,264.78 $1,864.11 $0.00 $1,505.50 $269,634.39
107 $269,634.39 $1,864.11 $0.00 $1,524.55 $273,023.05
108 $273,023.05 $1,864.11 $0.00 $1,543.71 $276,430.87
109 $276,430.87 $1,864.11 $0.00 $1,562.98 $279,857.96
110 $279,857.96 $1,864.11 $0.00 $1,582.36 $283,304.43
111 $283,304.43 $1,864.11 $0.00 $1,601.84 $286,770.38
112 $286,770.38 $1,864.11 $0.00 $1,621.44 $290,255.93
113 $290,255.93 $1,864.11 $0.00 $1,641.15 $293,761.19
114 $293,761.19 $1,864.11 $0.00 $1,660.97 $297,286.27
115 $297,286.27 $1,864.11 $0.00 $1,680.90 $300,831.28
116 $300,831.28 $1,864.11 $0.00 $1,700.94 $304,396.33
117 $304,396.33 $1,864.11 $0.00 $1,721.10 $307,981.54
118 $307,981.54 $1,864.11 $0.00 $1,741.37 $311,587.02
119 $311,587.02 $1,864.11 $0.00 $1,761.76 $315,212.89
120 $315,212.89 $1,864.11 $0.00 $1,782.26 $318,859.26
121 $318,859.26 $1,864.11 $0.00 $1,802.88 $322,526.25
122 $322,526.25 $1,864.11 $0.00 $1,823.61 $326,213.97
123 $326,213.97 $1,864.11 $0.00 $1,844.46 $329,922.54
124 $329,922.54 $1,864.11 $0.00 $1,865.43 $333,652.08
125 $333,652.08 $1,864.11 $0.00 $1,886.52 $337,402.71
126 $337,402.71 $1,864.11 $0.00 $1,907.72 $341,174.54
127 $341,174.54 $1,864.11 $0.00 $1,929.05 $344,967.70
128 $344,967.70 $1,864.11 $0.00 $1,950.50 $348,782.31
129 $348,782.31 $1,864.11 $0.00 $1,972.07 $352,618.49
130 $352,618.49 $1,864.11 $0.00 $1,993.76 $356,476.36
131 $356,476.36 $1,864.11 $0.00 $2,015.57 $360,356.04
132 $360,356.04 $1,864.11 $0.00 $2,037.51 $364,257.66
133 $364,257.66 $1,864.11 $0.00 $2,059.57 $368,181.34
134 $368,181.34 $1,864.11 $0.00 $2,081.75 $372,127.20
135 $372,127.20 $1,864.11 $0.00 $2,104.06 $376,095.37
136 $376,095.37 $1,864.11 $0.00 $2,126.50 $380,085.98
137 $380,085.98 $1,864.11 $0.00 $2,149.06 $384,099.15
138 $384,099.15 $1,864.11 $0.00 $2,171.75 $388,135.01
139 $388,135.01 $1,864.11 $0.00 $2,194.57 $392,193.69
140 $392,193.69 $1,864.11 $0.00 $2,217.52 $396,275.32
141 $396,275.32 $1,864.11 $0.00 $2,240.60 $400,380.03
142 $400,380.03 $1,864.11 $0.00 $2,263.81 $404,507.95
143 $404,507.95 $1,864.11 $0.00 $2,287.15 $408,659.21
144 $408,659.21 $1,864.11 $0.00 $2,310.62 $412,833.94
145 $412,833.94 $1,864.11 $0.00 $2,334.22 $417,032.27
146 $417,032.27 $1,864.11 $0.00 $2,357.96 $421,254.34
147 $421,254.34 $1,864.11 $0.00 $2,381.83 $425,500.28
148 $425,500.28 $1,864.11 $0.00 $2,405.84 $429,770.23
149 $429,770.23 $1,864.11 $0.00 $2,429.98 $434,064.32
150 $434,064.32 $1,864.11 $0.00 $2,454.26 $438,382.69
151 $438,382.69 $1,864.11 $0.00 $2,478.68 $442,725.48
152 $442,725.48 $1,864.11 $0.00 $2,503.23 $447,092.82
153 $447,092.82 $1,864.11 $0.00 $2,527.93 $451,484.86
154 $451,484.86 $1,864.11 $0.00 $2,552.76 $455,901.73
155 $455,901.73 $1,864.11 $0.00 $2,577.73 $460,343.57
156 $460,343.57 $1,864.11 $0.00 $2,602.85 $464,810.53
157 $464,810.53 $1,864.11 $0.00 $2,628.11 $469,302.75
158 $469,302.75 $1,864.11 $0.00 $2,653.51 $473,820.37
159 $473,820.37 $1,864.11 $0.00 $2,679.05 $478,363.53
160 $478,363.53 $1,864.11 $0.00 $2,704.74 $482,932.38
161 $482,932.38 $1,864.11 $0.00 $2,730.57 $487,527.06
162 $487,527.06 $1,864.11 $0.00 $2,756.55 $492,147.72
163 $492,147.72 $1,864.11 $0.00 $2,782.67 $496,794.50
164 $496,794.50 $1,864.11 $0.00 $2,808.95 $501,467.56
165 $501,467.56 $1,864.11 $0.00 $2,835.37 $506,167.04
166 $506,167.04 $1,864.11 $0.00 $2,861.94 $510,893.09
167 $510,893.09 $1,864.11 $0.00 $2,888.66 $515,645.86
168 $515,645.86 $1,864.11 $0.00 $2,915.54 $520,425.51
169 $520,425.51 $1,864.11 $0.00 $2,942.56 $525,232.18
170 $525,232.18 $1,864.11 $0.00 $2,969.74 $530,066.03
171 $530,066.03 $1,864.11 $0.00 $2,997.07 $534,927.21
172 $534,927.21 $1,864.11 $0.00 $3,024.56 $539,815.88
173 $539,815.88 $1,864.11 $0.00 $3,052.20 $544,732.19
174 $544,732.19 $1,864.11 $0.00 $3,079.99 $549,676.29
175 $549,676.29 $1,864.11 $0.00 $3,107.95 $554,648.35
176 $554,648.35 $1,864.11 $0.00 $3,136.06 $559,648.52
177 $559,648.52 $1,864.11 $0.00 $3,164.33 $564,676.96
178 $564,676.96 $1,864.11 $0.00 $3,192.77 $569,733.84
179 $569,733.84 $1,864.11 $0.00 $3,221.36 $574,819.31
180 $574,819.31 $1,864.11 $0.00 $3,250.11 $579,933.53
181 $579,933.53 $1,864.11 $0.00 $3,279.03 $585,076.67
182 $585,076.67 $1,864.11 $0.00 $3,308.11 $590,248.89
183 $590,248.89 $1,864.11 $0.00 $3,337.35 $595,450.35
184 $595,450.35 $1,864.11 $0.00 $3,366.76 $600,681.22
185 $600,681.22 $1,864.11 $0.00 $3,396.34 $605,941.67
186 $605,941.67 $1,864.11 $0.00 $3,426.08 $611,231.86
187 $611,231.86 $1,864.11 $0.00 $3,455.99 $616,551.96
188 $616,551.96 $1,864.11 $0.00 $3,486.07 $621,902.14
189 $621,902.14 $1,864.11 $0.00 $3,516.33 $627,282.58
190 $627,282.58 $1,864.11 $0.00 $3,546.75 $632,693.44
191 $632,693.44 $1,864.11 $0.00 $3,577.34 $638,134.89
192 $638,134.89 $1,864.11 $0.00 $3,608.11 $643,607.11
193 $643,607.11 $1,864.11 $0.00 $3,639.05 $649,110.27
194 $649,110.27 $1,864.11 $0.00 $3,670.16 $654,644.54
195 $654,644.54 $1,864.11 $0.00 $3,701.46 $660,210.11
196 $660,210.11 $1,864.11 $0.00 $3,732.92 $665,807.14
197 $665,807.14 $1,864.11 $0.00 $3,764.57 $671,435.82
198 $671,435.82 $1,864.11 $0.00 $3,796.40 $677,096.33
199 $677,096.33 $1,864.11 $0.00 $3,828.40 $682,788.84
200 $682,788.84 $1,864.11 $0.00 $3,860.59 $688,513.54
201 $688,513.54 $1,864.11 $0.00 $3,892.96 $694,270.61
202 $694,270.61 $1,864.11 $0.00 $3,925.51 $700,060.23
203 $700,060.23 $1,864.11 $0.00 $3,958.24 $705,882.58
204 $705,882.58 $1,864.11 $0.00 $3,991.16 $711,737.85
205 $711,737.85 $1,864.11 $0.00 $4,024.27 $717,626.23
206 $717,626.23 $1,864.11 $0.00 $4,057.56 $723,547.90
207 $723,547.90 $1,864.11 $0.00 $4,091.05 $729,503.06
208 $729,503.06 $1,864.11 $0.00 $4,124.72 $735,491.89
209 $735,491.89 $1,864.11 $0.00 $4,158.58 $741,514.58
210 $741,514.58 $1,864.11 $0.00 $4,192.63 $747,571.32
211 $747,571.32 $1,864.11 $0.00 $4,226.88 $753,662.31
212 $753,662.31 $1,864.11 $0.00 $4,261.32 $759,787.74
213 $759,787.74 $1,864.11 $0.00 $4,295.95 $765,947.80
214 $765,947.80 $1,864.11 $0.00 $4,330.78 $772,142.69
215 $772,142.69 $1,864.11 $0.00 $4,365.81 $778,372.61
216 $778,372.61 $1,864.11 $0.00 $4,401.03 $784,637.75
217 $784,637.75 $1,864.11 $212,496.34 $4,436.46 $578,441.98
218 $578,441.98 $1,864.11 $0.00 $3,270.60 $583,576.69
219 $583,576.69 $1,864.11 $0.00 $3,299.63 $588,740.43
220 $588,740.43 $1,864.11 $0.00 $3,328.82 $593,933.36
221 $593,933.36 $1,864.11 $0.00 $3,358.19 $599,155.66
222 $599,155.66 $1,864.11 $0.00 $3,387.71 $604,407.48
223 $604,407.48 $1,864.11 $0.00 $3,417.41 $609,689.00
224 $609,689.00 $1,864.11 $0.00 $3,447.27 $615,000.38
225 $615,000.38 $1,864.11 $0.00 $3,477.30 $620,341.79
226 $620,341.79 $1,864.11 $0.00 $3,507.50 $625,713.40
227 $625,713.40 $1,864.11 $0.00 $3,537.87 $631,115.38
228 $631,115.38 $1,864.11 $0.00 $3,568.42 $636,547.91
229 $636,547.91 $1,864.11 $227,371.09 $3,599.13 $414,640.06
230 $414,640.06 $1,864.11 $0.00 $2,344.44 $418,848.61
231 $418,848.61 $1,864.11 $0.00 $2,368.23 $423,080.95
232 $423,080.95 $1,864.11 $0.00 $2,392.16 $427,337.22
233 $427,337.22 $1,864.11 $0.00 $2,416.23 $431,617.56
234 $431,617.56 $1,864.11 $0.00 $2,440.43 $435,922.10
235 $435,922.10 $1,864.11 $0.00 $2,464.77 $440,250.98
236 $440,250.98 $1,864.11 $0.00 $2,489.24 $444,604.33
237 $444,604.33 $1,864.11 $0.00 $2,513.86 $448,982.30
238 $448,982.30 $1,864.11 $0.00 $2,538.61 $453,385.02
239 $453,385.02 $1,864.11 $0.00 $2,563.50 $457,812.63
240 $457,812.63 $1,864.11 $0.00 $2,588.54 $462,265.28
241 $462,265.28 $1,864.11 $243,287.06 $2,613.72 $223,456.05
242 $223,456.05 $1,864.11 $0.00 $1,263.45 $226,583.61
243 $226,583.61 $1,864.11 $0.00 $1,281.14 $229,728.86
244 $229,728.86 $1,864.11 $0.00 $1,298.92 $232,891.89
245 $232,891.89 $1,864.11 $0.00 $1,316.80 $236,072.80
246 $236,072.80 $1,864.11 $0.00 $1,334.79 $239,271.70
247 $239,271.70 $1,864.11 $0.00 $1,352.88 $242,488.69
248 $242,488.69 $1,864.11 $0.00 $1,371.07 $245,723.87
249 $245,723.87 $1,864.11 $0.00 $1,389.36 $248,977.34
250 $248,977.34 $1,864.11 $0.00 $1,407.75 $252,249.20
251 $252,249.20 $1,864.11 $0.00 $1,426.25 $255,539.56
252 $255,539.56 $1,864.11 $0.00 $1,444.86 $258,848.53
253 $258,848.53 $0.00 $260,317.16 $1,463.57 -$5.06