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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2035$148,868
Monthly savings required$1,171

How much will it cost to send your child to Harvard University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $595,473.04 for students enrolling in 2035 if tuition increases average 5% per year until then.   Assuming you have already saved $1,000.00, monthly deposits of $1,171.01 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$57,407.00
Years until enrollment18
Annual Tuition Increase5%
Current Savings$1,000.00
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 $1,000.00 $1,171.01 $0.00 $0.00 $2,171.01
2 $2,171.01 $1,171.01 $0.00 $12.28 $3,354.30
3 $3,354.30 $1,171.01 $0.00 $18.97 $4,544.28
4 $4,544.28 $1,171.01 $0.00 $25.69 $5,740.98
5 $5,740.98 $1,171.01 $0.00 $32.46 $6,944.45
6 $6,944.45 $1,171.01 $0.00 $39.26 $8,154.72
7 $8,154.72 $1,171.01 $0.00 $46.11 $9,371.84
8 $9,371.84 $1,171.01 $0.00 $52.99 $10,595.84
9 $10,595.84 $1,171.01 $0.00 $59.91 $11,826.76
10 $11,826.76 $1,171.01 $0.00 $66.87 $13,064.64
11 $13,064.64 $1,171.01 $0.00 $73.87 $14,309.52
12 $14,309.52 $1,171.01 $0.00 $80.91 $15,561.44
13 $15,561.44 $1,171.01 $0.00 $87.99 $16,820.44
14 $16,820.44 $1,171.01 $0.00 $95.11 $18,086.56
15 $18,086.56 $1,171.01 $0.00 $102.26 $19,359.83
16 $19,359.83 $1,171.01 $0.00 $109.46 $20,640.30
17 $20,640.30 $1,171.01 $0.00 $116.70 $21,928.01
18 $21,928.01 $1,171.01 $0.00 $123.98 $23,223.00
19 $23,223.00 $1,171.01 $0.00 $131.31 $24,525.32
20 $24,525.32 $1,171.01 $0.00 $138.67 $25,835.00
21 $25,835.00 $1,171.01 $0.00 $146.07 $27,152.08
22 $27,152.08 $1,171.01 $0.00 $153.52 $28,476.61
23 $28,476.61 $1,171.01 $0.00 $161.01 $29,808.63
24 $29,808.63 $1,171.01 $0.00 $168.54 $31,148.18
25 $31,148.18 $1,171.01 $0.00 $176.12 $32,495.31
26 $32,495.31 $1,171.01 $0.00 $183.73 $33,850.05
27 $33,850.05 $1,171.01 $0.00 $191.39 $35,212.45
28 $35,212.45 $1,171.01 $0.00 $199.10 $36,582.56
29 $36,582.56 $1,171.01 $0.00 $206.84 $37,960.41
30 $37,960.41 $1,171.01 $0.00 $214.63 $39,346.05
31 $39,346.05 $1,171.01 $0.00 $222.47 $40,739.53
32 $40,739.53 $1,171.01 $0.00 $230.35 $42,140.89
33 $42,140.89 $1,171.01 $0.00 $238.27 $43,550.17
34 $43,550.17 $1,171.01 $0.00 $246.24 $44,967.42
35 $44,967.42 $1,171.01 $0.00 $254.25 $46,392.68
36 $46,392.68 $1,171.01 $0.00 $262.31 $47,826.00
37 $47,826.00 $1,171.01 $0.00 $270.42 $49,267.43
38 $49,267.43 $1,171.01 $0.00 $278.57 $50,717.01
39 $50,717.01 $1,171.01 $0.00 $286.76 $52,174.78
40 $52,174.78 $1,171.01 $0.00 $295.00 $53,640.79
41 $53,640.79 $1,171.01 $0.00 $303.29 $55,115.09
42 $55,115.09 $1,171.01 $0.00 $311.63 $56,597.73
43 $56,597.73 $1,171.01 $0.00 $320.01 $58,088.75
44 $58,088.75 $1,171.01 $0.00 $328.44 $59,588.20
45 $59,588.20 $1,171.01 $0.00 $336.92 $61,096.13
46 $61,096.13 $1,171.01 $0.00 $345.45 $62,612.59
47 $62,612.59 $1,171.01 $0.00 $354.02 $64,137.62
48 $64,137.62 $1,171.01 $0.00 $362.64 $65,671.27
49 $65,671.27 $1,171.01 $0.00 $371.31 $67,213.59
50 $67,213.59 $1,171.01 $0.00 $380.04 $68,764.64
51 $68,764.64 $1,171.01 $0.00 $388.81 $70,324.46
52 $70,324.46 $1,171.01 $0.00 $397.62 $71,893.09
53 $71,893.09 $1,171.01 $0.00 $406.49 $73,470.59
54 $73,470.59 $1,171.01 $0.00 $415.41 $75,057.01
55 $75,057.01 $1,171.01 $0.00 $424.38 $76,652.40
56 $76,652.40 $1,171.01 $0.00 $433.40 $78,256.81
57 $78,256.81 $1,171.01 $0.00 $442.48 $79,870.30
58 $79,870.30 $1,171.01 $0.00 $451.60 $81,492.91
59 $81,492.91 $1,171.01 $0.00 $460.77 $83,124.69
60 $83,124.69 $1,171.01 $0.00 $470.00 $84,765.70
61 $84,765.70 $1,171.01 $0.00 $479.28 $86,415.99
62 $86,415.99 $1,171.01 $0.00 $488.61 $88,075.61
63 $88,075.61 $1,171.01 $0.00 $497.99 $89,744.61
64 $89,744.61 $1,171.01 $0.00 $507.43 $91,423.05
65 $91,423.05 $1,171.01 $0.00 $516.92 $93,110.98
66 $93,110.98 $1,171.01 $0.00 $526.46 $94,808.45
67 $94,808.45 $1,171.01 $0.00 $536.06 $96,515.52
68 $96,515.52 $1,171.01 $0.00 $545.71 $98,232.24
69 $98,232.24 $1,171.01 $0.00 $555.42 $99,958.67
70 $99,958.67 $1,171.01 $0.00 $565.18 $101,694.86
71 $101,694.86 $1,171.01 $0.00 $575.00 $103,440.87
72 $103,440.87 $1,171.01 $0.00 $584.87 $105,196.75
73 $105,196.75 $1,171.01 $0.00 $594.80 $106,962.56
74 $106,962.56 $1,171.01 $0.00 $604.78 $108,738.35
75 $108,738.35 $1,171.01 $0.00 $614.82 $110,524.18
76 $110,524.18 $1,171.01 $0.00 $624.92 $112,320.11
77 $112,320.11 $1,171.01 $0.00 $635.07 $114,126.19
78 $114,126.19 $1,171.01 $0.00 $645.29 $115,942.49
79 $115,942.49 $1,171.01 $0.00 $655.56 $117,769.06
80 $117,769.06 $1,171.01 $0.00 $665.88 $119,605.95
81 $119,605.95 $1,171.01 $0.00 $676.27 $121,453.23
82 $121,453.23 $1,171.01 $0.00 $686.71 $123,310.95
83 $123,310.95 $1,171.01 $0.00 $697.22 $125,179.18
84 $125,179.18 $1,171.01 $0.00 $707.78 $127,057.97
85 $127,057.97 $1,171.01 $0.00 $718.40 $128,947.38
86 $128,947.38 $1,171.01 $0.00 $729.09 $130,847.48
87 $130,847.48 $1,171.01 $0.00 $739.83 $132,758.32
88 $132,758.32 $1,171.01 $0.00 $750.63 $134,679.96
89 $134,679.96 $1,171.01 $0.00 $761.50 $136,612.47
90 $136,612.47 $1,171.01 $0.00 $772.43 $138,555.91
91 $138,555.91 $1,171.01 $0.00 $783.42 $140,510.34
92 $140,510.34 $1,171.01 $0.00 $794.47 $142,475.82
93 $142,475.82 $1,171.01 $0.00 $805.58 $144,452.41
94 $144,452.41 $1,171.01 $0.00 $816.75 $146,440.17
95 $146,440.17 $1,171.01 $0.00 $827.99 $148,439.17
96 $148,439.17 $1,171.01 $0.00 $839.30 $150,449.48
97 $150,449.48 $1,171.01 $0.00 $850.66 $152,471.15
98 $152,471.15 $1,171.01 $0.00 $862.09 $154,504.25
99 $154,504.25 $1,171.01 $0.00 $873.59 $156,548.85
100 $156,548.85 $1,171.01 $0.00 $885.15 $158,605.01
101 $158,605.01 $1,171.01 $0.00 $896.78 $160,672.80
102 $160,672.80 $1,171.01 $0.00 $908.47 $162,752.28
103 $162,752.28 $1,171.01 $0.00 $920.23 $164,843.52
104 $164,843.52 $1,171.01 $0.00 $932.05 $166,946.58
105 $166,946.58 $1,171.01 $0.00 $943.94 $169,061.53
106 $169,061.53 $1,171.01 $0.00 $955.90 $171,188.44
107 $171,188.44 $1,171.01 $0.00 $967.92 $173,327.37
108 $173,327.37 $1,171.01 $0.00 $980.02 $175,478.40
109 $175,478.40 $1,171.01 $0.00 $992.18 $177,641.59
110 $177,641.59 $1,171.01 $0.00 $1,004.41 $179,817.01
111 $179,817.01 $1,171.01 $0.00 $1,016.71 $182,004.73
112 $182,004.73 $1,171.01 $0.00 $1,029.08 $184,204.82
113 $184,204.82 $1,171.01 $0.00 $1,041.52 $186,417.35
114 $186,417.35 $1,171.01 $0.00 $1,054.03 $188,642.39
115 $188,642.39 $1,171.01 $0.00 $1,066.61 $190,880.01
116 $190,880.01 $1,171.01 $0.00 $1,079.26 $193,130.28
117 $193,130.28 $1,171.01 $0.00 $1,091.99 $195,393.28
118 $195,393.28 $1,171.01 $0.00 $1,104.78 $197,669.07
119 $197,669.07 $1,171.01 $0.00 $1,117.65 $199,957.73
120 $199,957.73 $1,171.01 $0.00 $1,130.59 $202,259.33
121 $202,259.33 $1,171.01 $0.00 $1,143.60 $204,573.94
122 $204,573.94 $1,171.01 $0.00 $1,156.69 $206,901.64
123 $206,901.64 $1,171.01 $0.00 $1,169.85 $209,242.50
124 $209,242.50 $1,171.01 $0.00 $1,183.09 $211,596.60
125 $211,596.60 $1,171.01 $0.00 $1,196.40 $213,964.01
126 $213,964.01 $1,171.01 $0.00 $1,209.78 $216,344.80
127 $216,344.80 $1,171.01 $0.00 $1,223.24 $218,739.05
128 $218,739.05 $1,171.01 $0.00 $1,236.78 $221,146.84
129 $221,146.84 $1,171.01 $0.00 $1,250.40 $223,568.25
130 $223,568.25 $1,171.01 $0.00 $1,264.09 $226,003.35
131 $226,003.35 $1,171.01 $0.00 $1,277.86 $228,452.22
132 $228,452.22 $1,171.01 $0.00 $1,291.70 $230,914.93
133 $230,914.93 $1,171.01 $0.00 $1,305.63 $233,391.57
134 $233,391.57 $1,171.01 $0.00 $1,319.63 $235,882.21
135 $235,882.21 $1,171.01 $0.00 $1,333.71 $238,386.93
136 $238,386.93 $1,171.01 $0.00 $1,347.87 $240,905.81
137 $240,905.81 $1,171.01 $0.00 $1,362.12 $243,438.94
138 $243,438.94 $1,171.01 $0.00 $1,376.44 $245,986.39
139 $245,986.39 $1,171.01 $0.00 $1,390.84 $248,548.24
140 $248,548.24 $1,171.01 $0.00 $1,405.33 $251,124.58
141 $251,124.58 $1,171.01 $0.00 $1,419.89 $253,715.48
142 $253,715.48 $1,171.01 $0.00 $1,434.54 $256,321.03
143 $256,321.03 $1,171.01 $0.00 $1,449.28 $258,941.32
144 $258,941.32 $1,171.01 $0.00 $1,464.09 $261,576.42
145 $261,576.42 $1,171.01 $0.00 $1,478.99 $264,226.42
146 $264,226.42 $1,171.01 $0.00 $1,493.97 $266,891.40
147 $266,891.40 $1,171.01 $0.00 $1,509.04 $269,571.45
148 $269,571.45 $1,171.01 $0.00 $1,524.20 $272,266.66
149 $272,266.66 $1,171.01 $0.00 $1,539.44 $274,977.11
150 $274,977.11 $1,171.01 $0.00 $1,554.76 $277,702.88
151 $277,702.88 $1,171.01 $0.00 $1,570.17 $280,444.06
152 $280,444.06 $1,171.01 $0.00 $1,585.67 $283,200.74
153 $283,200.74 $1,171.01 $0.00 $1,601.26 $285,973.01
154 $285,973.01 $1,171.01 $0.00 $1,616.93 $288,760.95
155 $288,760.95 $1,171.01 $0.00 $1,632.70 $291,564.66
156 $291,564.66 $1,171.01 $0.00 $1,648.55 $294,384.22
157 $294,384.22 $1,171.01 $0.00 $1,664.49 $297,219.72
158 $297,219.72 $1,171.01 $0.00 $1,680.52 $300,071.25
159 $300,071.25 $1,171.01 $0.00 $1,696.65 $302,938.91
160 $302,938.91 $1,171.01 $0.00 $1,712.86 $305,822.78
161 $305,822.78 $1,171.01 $0.00 $1,729.17 $308,722.96
162 $308,722.96 $1,171.01 $0.00 $1,745.56 $311,639.53
163 $311,639.53 $1,171.01 $0.00 $1,762.06 $314,572.60
164 $314,572.60 $1,171.01 $0.00 $1,778.64 $317,522.25
165 $317,522.25 $1,171.01 $0.00 $1,795.32 $320,488.58
166 $320,488.58 $1,171.01 $0.00 $1,812.09 $323,471.68
167 $323,471.68 $1,171.01 $0.00 $1,828.96 $326,471.65
168 $326,471.65 $1,171.01 $0.00 $1,845.92 $329,488.58
169 $329,488.58 $1,171.01 $0.00 $1,862.98 $332,522.57
170 $332,522.57 $1,171.01 $0.00 $1,880.13 $335,573.71
171 $335,573.71 $1,171.01 $0.00 $1,897.38 $338,642.10
172 $338,642.10 $1,171.01 $0.00 $1,914.73 $341,727.84
173 $341,727.84 $1,171.01 $0.00 $1,932.18 $344,831.03
174 $344,831.03 $1,171.01 $0.00 $1,949.72 $347,951.76
175 $347,951.76 $1,171.01 $0.00 $1,967.37 $351,090.14
176 $351,090.14 $1,171.01 $0.00 $1,985.11 $354,246.26
177 $354,246.26 $1,171.01 $0.00 $2,002.96 $357,420.23
178 $357,420.23 $1,171.01 $0.00 $2,020.91 $360,612.15
179 $360,612.15 $1,171.01 $0.00 $2,038.95 $363,822.11
180 $363,822.11 $1,171.01 $0.00 $2,057.10 $367,050.22
181 $367,050.22 $1,171.01 $0.00 $2,075.36 $370,296.59
182 $370,296.59 $1,171.01 $0.00 $2,093.71 $373,561.31
183 $373,561.31 $1,171.01 $0.00 $2,112.17 $376,844.49
184 $376,844.49 $1,171.01 $0.00 $2,130.73 $380,146.23
185 $380,146.23 $1,171.01 $0.00 $2,149.40 $383,466.64
186 $383,466.64 $1,171.01 $0.00 $2,168.18 $386,805.83
187 $386,805.83 $1,171.01 $0.00 $2,187.06 $390,163.90
188 $390,163.90 $1,171.01 $0.00 $2,206.04 $393,540.95
189 $393,540.95 $1,171.01 $0.00 $2,225.14 $396,937.10
190 $396,937.10 $1,171.01 $0.00 $2,244.34 $400,352.45
191 $400,352.45 $1,171.01 $0.00 $2,263.65 $403,787.11
192 $403,787.11 $1,171.01 $0.00 $2,283.07 $407,241.19
193 $407,241.19 $1,171.01 $0.00 $2,302.60 $410,714.80
194 $410,714.80 $1,171.01 $0.00 $2,322.24 $414,208.05
195 $414,208.05 $1,171.01 $0.00 $2,341.99 $417,721.05
196 $417,721.05 $1,171.01 $0.00 $2,361.86 $421,253.92
197 $421,253.92 $1,171.01 $0.00 $2,381.83 $424,806.76
198 $424,806.76 $1,171.01 $0.00 $2,401.92 $428,379.69
199 $428,379.69 $1,171.01 $0.00 $2,422.12 $431,972.82
200 $431,972.82 $1,171.01 $0.00 $2,442.44 $435,586.27
201 $435,586.27 $1,171.01 $0.00 $2,462.87 $439,220.15
202 $439,220.15 $1,171.01 $0.00 $2,483.41 $442,874.57
203 $442,874.57 $1,171.01 $0.00 $2,504.08 $446,549.66
204 $446,549.66 $1,171.01 $0.00 $2,524.86 $450,245.53
205 $450,245.53 $1,171.01 $0.00 $2,545.75 $453,962.29
206 $453,962.29 $1,171.01 $0.00 $2,566.77 $457,700.07
207 $457,700.07 $1,171.01 $0.00 $2,587.90 $461,458.98
208 $461,458.98 $1,171.01 $0.00 $2,609.16 $465,239.15
209 $465,239.15 $1,171.01 $0.00 $2,630.53 $469,040.69
210 $469,040.69 $1,171.01 $0.00 $2,652.02 $472,863.72
211 $472,863.72 $1,171.01 $0.00 $2,673.64 $476,708.37
212 $476,708.37 $1,171.01 $0.00 $2,695.38 $480,574.76
213 $480,574.76 $1,171.01 $0.00 $2,717.24 $484,463.01
214 $484,463.01 $1,171.01 $0.00 $2,739.22 $488,373.24
215 $488,373.24 $1,171.01 $0.00 $2,761.33 $492,305.58
216 $492,305.58 $1,171.01 $0.00 $2,783.57 $496,260.16
217 $496,260.16 $1,171.01 $138,156.79 $2,805.93 $362,080.31
218 $362,080.31 $1,171.01 $0.00 $2,047.25 $365,298.57
219 $365,298.57 $1,171.01 $0.00 $2,065.45 $368,535.03
220 $368,535.03 $1,171.01 $0.00 $2,083.75 $371,789.79
221 $371,789.79 $1,171.01 $0.00 $2,102.15 $375,062.95
222 $375,062.95 $1,171.01 $0.00 $2,120.66 $378,354.62
223 $378,354.62 $1,171.01 $0.00 $2,139.27 $381,664.90
224 $381,664.90 $1,171.01 $0.00 $2,157.99 $384,993.90
225 $384,993.90 $1,171.01 $0.00 $2,176.81 $388,341.72
226 $388,341.72 $1,171.01 $0.00 $2,195.74 $391,708.47
227 $391,708.47 $1,171.01 $0.00 $2,214.78 $395,094.26
228 $395,094.26 $1,171.01 $0.00 $2,233.92 $398,499.19
229 $398,499.19 $1,171.01 $145,064.63 $2,253.17 $256,858.74
230 $256,858.74 $1,171.01 $0.00 $1,452.32 $259,482.07
231 $259,482.07 $1,171.01 $0.00 $1,467.15 $262,120.23
232 $262,120.23 $1,171.01 $0.00 $1,482.07 $264,773.31
233 $264,773.31 $1,171.01 $0.00 $1,497.07 $267,441.39
234 $267,441.39 $1,171.01 $0.00 $1,512.15 $270,124.55
235 $270,124.55 $1,171.01 $0.00 $1,527.32 $272,822.88
236 $272,822.88 $1,171.01 $0.00 $1,542.58 $275,536.47
237 $275,536.47 $1,171.01 $0.00 $1,557.92 $278,265.40
238 $278,265.40 $1,171.01 $0.00 $1,573.35 $281,009.76
239 $281,009.76 $1,171.01 $0.00 $1,588.87 $283,769.64
240 $283,769.64 $1,171.01 $0.00 $1,604.47 $286,545.12
241 $286,545.12 $1,171.01 $152,317.86 $1,620.17 $137,018.44
242 $137,018.44 $1,171.01 $0.00 $774.72 $138,964.17
243 $138,964.17 $1,171.01 $0.00 $785.72 $140,920.90
244 $140,920.90 $1,171.01 $0.00 $796.79 $142,888.70
245 $142,888.70 $1,171.01 $0.00 $807.91 $144,867.62
246 $144,867.62 $1,171.01 $0.00 $819.10 $146,857.73
247 $146,857.73 $1,171.01 $0.00 $830.35 $148,859.09
248 $148,859.09 $1,171.01 $0.00 $841.67 $150,871.77
249 $150,871.77 $1,171.01 $0.00 $853.05 $152,895.83
250 $152,895.83 $1,171.01 $0.00 $864.50 $154,931.34
251 $154,931.34 $1,171.01 $0.00 $876.00 $156,978.35
252 $156,978.35 $1,171.01 $0.00 $887.58 $159,036.94
253 $159,036.94 $0.00 $159,933.75 $899.22 $2.41