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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$63,884
Monthly savings required$506

How much will it cost to send your child to Massachusetts College of Liberal Arts in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $255,534.66 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $505.69 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$24,635.00
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 $505.69 $0.00 $0.00 $505.69
2 $505.69 $505.69 $0.00 $2.86 $1,014.24
3 $1,014.24 $505.69 $0.00 $5.73 $1,525.66
4 $1,525.66 $505.69 $0.00 $8.63 $2,039.98
5 $2,039.98 $505.69 $0.00 $11.53 $2,557.20
6 $2,557.20 $505.69 $0.00 $14.46 $3,077.35
7 $3,077.35 $505.69 $0.00 $17.40 $3,600.44
8 $3,600.44 $505.69 $0.00 $20.36 $4,126.49
9 $4,126.49 $505.69 $0.00 $23.33 $4,655.51
10 $4,655.51 $505.69 $0.00 $26.32 $5,187.52
11 $5,187.52 $505.69 $0.00 $29.33 $5,722.54
12 $5,722.54 $505.69 $0.00 $32.36 $6,260.59
13 $6,260.59 $505.69 $0.00 $35.40 $6,801.68
14 $6,801.68 $505.69 $0.00 $38.46 $7,345.83
15 $7,345.83 $505.69 $0.00 $41.53 $7,893.05
16 $7,893.05 $505.69 $0.00 $44.63 $8,443.37
17 $8,443.37 $505.69 $0.00 $47.74 $8,996.80
18 $8,996.80 $505.69 $0.00 $50.87 $9,553.36
19 $9,553.36 $505.69 $0.00 $54.02 $10,113.07
20 $10,113.07 $505.69 $0.00 $57.18 $10,675.94
21 $10,675.94 $505.69 $0.00 $60.36 $11,241.99
22 $11,241.99 $505.69 $0.00 $63.56 $11,811.24
23 $11,811.24 $505.69 $0.00 $66.78 $12,383.71
24 $12,383.71 $505.69 $0.00 $70.02 $12,959.42
25 $12,959.42 $505.69 $0.00 $73.27 $13,538.38
26 $13,538.38 $505.69 $0.00 $76.55 $14,120.62
27 $14,120.62 $505.69 $0.00 $79.84 $14,706.15
28 $14,706.15 $505.69 $0.00 $83.15 $15,294.99
29 $15,294.99 $505.69 $0.00 $86.48 $15,887.16
30 $15,887.16 $505.69 $0.00 $89.83 $16,482.68
31 $16,482.68 $505.69 $0.00 $93.20 $17,081.57
32 $17,081.57 $505.69 $0.00 $96.58 $17,683.84
33 $17,683.84 $505.69 $0.00 $99.99 $18,289.52
34 $18,289.52 $505.69 $0.00 $103.41 $18,898.62
35 $18,898.62 $505.69 $0.00 $106.86 $19,511.17
36 $19,511.17 $505.69 $0.00 $110.32 $20,127.18
37 $20,127.18 $505.69 $0.00 $113.80 $20,746.67
38 $20,746.67 $505.69 $0.00 $117.30 $21,369.66
39 $21,369.66 $505.69 $0.00 $120.83 $21,996.18
40 $21,996.18 $505.69 $0.00 $124.37 $22,626.24
41 $22,626.24 $505.69 $0.00 $127.93 $23,259.86
42 $23,259.86 $505.69 $0.00 $131.51 $23,897.06
43 $23,897.06 $505.69 $0.00 $135.12 $24,537.87
44 $24,537.87 $505.69 $0.00 $138.74 $25,182.30
45 $25,182.30 $505.69 $0.00 $142.38 $25,830.37
46 $25,830.37 $505.69 $0.00 $146.05 $26,482.11
47 $26,482.11 $505.69 $0.00 $149.73 $27,137.53
48 $27,137.53 $505.69 $0.00 $153.44 $27,796.66
49 $27,796.66 $505.69 $0.00 $157.17 $28,459.52
50 $28,459.52 $505.69 $0.00 $160.91 $29,126.12
51 $29,126.12 $505.69 $0.00 $164.68 $29,796.49
52 $29,796.49 $505.69 $0.00 $168.47 $30,470.65
53 $30,470.65 $505.69 $0.00 $172.29 $31,148.63
54 $31,148.63 $505.69 $0.00 $176.12 $31,830.44
55 $31,830.44 $505.69 $0.00 $179.97 $32,516.10
56 $32,516.10 $505.69 $0.00 $183.85 $33,205.64
57 $33,205.64 $505.69 $0.00 $187.75 $33,899.08
58 $33,899.08 $505.69 $0.00 $191.67 $34,596.44
59 $34,596.44 $505.69 $0.00 $195.61 $35,297.74
60 $35,297.74 $505.69 $0.00 $199.58 $36,003.01
61 $36,003.01 $505.69 $0.00 $203.57 $36,712.27
62 $36,712.27 $505.69 $0.00 $207.58 $37,425.54
63 $37,425.54 $505.69 $0.00 $211.61 $38,142.84
64 $38,142.84 $505.69 $0.00 $215.67 $38,864.20
65 $38,864.20 $505.69 $0.00 $219.74 $39,589.63
66 $39,589.63 $505.69 $0.00 $223.85 $40,319.17
67 $40,319.17 $505.69 $0.00 $227.97 $41,052.83
68 $41,052.83 $505.69 $0.00 $232.12 $41,790.64
69 $41,790.64 $505.69 $0.00 $236.29 $42,532.62
70 $42,532.62 $505.69 $0.00 $240.49 $43,278.80
71 $43,278.80 $505.69 $0.00 $244.70 $44,029.19
72 $44,029.19 $505.69 $0.00 $248.95 $44,783.83
73 $44,783.83 $505.69 $0.00 $253.21 $45,542.73
74 $45,542.73 $505.69 $0.00 $257.51 $46,305.93
75 $46,305.93 $505.69 $0.00 $261.82 $47,073.44
76 $47,073.44 $505.69 $0.00 $266.16 $47,845.29
77 $47,845.29 $505.69 $0.00 $270.52 $48,621.50
78 $48,621.50 $505.69 $0.00 $274.91 $49,402.10
79 $49,402.10 $505.69 $0.00 $279.33 $50,187.12
80 $50,187.12 $505.69 $0.00 $283.77 $50,976.58
81 $50,976.58 $505.69 $0.00 $288.23 $51,770.50
82 $51,770.50 $505.69 $0.00 $292.72 $52,568.91
83 $52,568.91 $505.69 $0.00 $297.23 $53,371.83
84 $53,371.83 $505.69 $0.00 $301.77 $54,179.29
85 $54,179.29 $505.69 $0.00 $306.34 $54,991.32
86 $54,991.32 $505.69 $0.00 $310.93 $55,807.94
87 $55,807.94 $505.69 $0.00 $315.55 $56,629.18
88 $56,629.18 $505.69 $0.00 $320.19 $57,455.06
89 $57,455.06 $505.69 $0.00 $324.86 $58,285.61
90 $58,285.61 $505.69 $0.00 $329.56 $59,120.86
91 $59,120.86 $505.69 $0.00 $334.28 $59,960.83
92 $59,960.83 $505.69 $0.00 $339.03 $60,805.55
93 $60,805.55 $505.69 $0.00 $343.80 $61,655.04
94 $61,655.04 $505.69 $0.00 $348.61 $62,509.34
95 $62,509.34 $505.69 $0.00 $353.44 $63,368.47
96 $63,368.47 $505.69 $0.00 $358.29 $64,232.45
97 $64,232.45 $505.69 $0.00 $363.18 $65,101.32
98 $65,101.32 $505.69 $0.00 $368.09 $65,975.10
99 $65,975.10 $505.69 $0.00 $373.03 $66,853.82
100 $66,853.82 $505.69 $0.00 $378.00 $67,737.51
101 $67,737.51 $505.69 $0.00 $383.00 $68,626.20
102 $68,626.20 $505.69 $0.00 $388.02 $69,519.91
103 $69,519.91 $505.69 $0.00 $393.08 $70,418.68
104 $70,418.68 $505.69 $0.00 $398.16 $71,322.53
105 $71,322.53 $505.69 $0.00 $403.27 $72,231.49
106 $72,231.49 $505.69 $0.00 $408.41 $73,145.59
107 $73,145.59 $505.69 $0.00 $413.58 $74,064.86
108 $74,064.86 $505.69 $0.00 $418.77 $74,989.32
109 $74,989.32 $505.69 $0.00 $424.00 $75,919.01
110 $75,919.01 $505.69 $0.00 $429.26 $76,853.96
111 $76,853.96 $505.69 $0.00 $434.54 $77,794.19
112 $77,794.19 $505.69 $0.00 $439.86 $78,739.74
113 $78,739.74 $505.69 $0.00 $445.21 $79,690.64
114 $79,690.64 $505.69 $0.00 $450.58 $80,646.91
115 $80,646.91 $505.69 $0.00 $455.99 $81,608.59
116 $81,608.59 $505.69 $0.00 $461.43 $82,575.71
117 $82,575.71 $505.69 $0.00 $466.90 $83,548.30
118 $83,548.30 $505.69 $0.00 $472.39 $84,526.38
119 $84,526.38 $505.69 $0.00 $477.92 $85,509.99
120 $85,509.99 $505.69 $0.00 $483.49 $86,499.17
121 $86,499.17 $505.69 $0.00 $489.08 $87,493.94
122 $87,493.94 $505.69 $0.00 $494.70 $88,494.33
123 $88,494.33 $505.69 $0.00 $500.36 $89,500.38
124 $89,500.38 $505.69 $0.00 $506.05 $90,512.12
125 $90,512.12 $505.69 $0.00 $511.77 $91,529.58
126 $91,529.58 $505.69 $0.00 $517.52 $92,552.79
127 $92,552.79 $505.69 $0.00 $523.31 $93,581.79
128 $93,581.79 $505.69 $0.00 $529.13 $94,616.61
129 $94,616.61 $505.69 $0.00 $534.98 $95,657.28
130 $95,657.28 $505.69 $0.00 $540.86 $96,703.83
131 $96,703.83 $505.69 $0.00 $546.78 $97,756.30
132 $97,756.30 $505.69 $0.00 $552.73 $98,814.72
133 $98,814.72 $505.69 $0.00 $558.71 $99,879.12
134 $99,879.12 $505.69 $0.00 $564.73 $100,949.54
135 $100,949.54 $505.69 $0.00 $570.78 $102,026.01
136 $102,026.01 $505.69 $0.00 $576.87 $103,108.57
137 $103,108.57 $505.69 $0.00 $582.99 $104,197.25
138 $104,197.25 $505.69 $0.00 $589.15 $105,292.09
139 $105,292.09 $505.69 $0.00 $595.34 $106,393.12
140 $106,393.12 $505.69 $0.00 $601.56 $107,500.37
141 $107,500.37 $505.69 $0.00 $607.82 $108,613.88
142 $108,613.88 $505.69 $0.00 $614.12 $109,733.69
143 $109,733.69 $505.69 $0.00 $620.45 $110,859.83
144 $110,859.83 $505.69 $0.00 $626.82 $111,992.34
145 $111,992.34 $505.69 $0.00 $633.22 $113,131.25
146 $113,131.25 $505.69 $0.00 $639.66 $114,276.60
147 $114,276.60 $505.69 $0.00 $646.14 $115,428.43
148 $115,428.43 $505.69 $0.00 $652.65 $116,586.77
149 $116,586.77 $505.69 $0.00 $659.20 $117,751.66
150 $117,751.66 $505.69 $0.00 $665.79 $118,923.14
151 $118,923.14 $505.69 $0.00 $672.41 $120,101.24
152 $120,101.24 $505.69 $0.00 $679.07 $121,286.00
153 $121,286.00 $505.69 $0.00 $685.77 $122,477.46
154 $122,477.46 $505.69 $0.00 $692.51 $123,675.66
155 $123,675.66 $505.69 $0.00 $699.28 $124,880.63
156 $124,880.63 $505.69 $0.00 $706.09 $126,092.41
157 $126,092.41 $505.69 $0.00 $712.94 $127,311.04
158 $127,311.04 $505.69 $0.00 $719.84 $128,536.57
159 $128,536.57 $505.69 $0.00 $726.76 $129,769.02
160 $129,769.02 $505.69 $0.00 $733.73 $131,008.44
161 $131,008.44 $505.69 $0.00 $740.74 $132,254.87
162 $132,254.87 $505.69 $0.00 $747.79 $133,508.35
163 $133,508.35 $505.69 $0.00 $754.88 $134,768.92
164 $134,768.92 $505.69 $0.00 $762.00 $136,036.61
165 $136,036.61 $505.69 $0.00 $769.17 $137,311.47
166 $137,311.47 $505.69 $0.00 $776.38 $138,593.54
167 $138,593.54 $505.69 $0.00 $783.63 $139,882.86
168 $139,882.86 $505.69 $0.00 $790.92 $141,179.47
169 $141,179.47 $505.69 $0.00 $798.25 $142,483.41
170 $142,483.41 $505.69 $0.00 $805.62 $143,794.72
171 $143,794.72 $505.69 $0.00 $813.04 $145,113.45
172 $145,113.45 $505.69 $0.00 $820.49 $146,439.63
173 $146,439.63 $505.69 $0.00 $827.99 $147,773.31
174 $147,773.31 $505.69 $0.00 $835.53 $149,114.53
175 $149,114.53 $505.69 $0.00 $843.12 $150,463.34
176 $150,463.34 $505.69 $0.00 $850.74 $151,819.77
177 $151,819.77 $505.69 $0.00 $858.41 $153,183.87
178 $153,183.87 $505.69 $0.00 $866.12 $154,555.68
179 $154,555.68 $505.69 $0.00 $873.88 $155,935.25
180 $155,935.25 $505.69 $0.00 $881.68 $157,322.62
181 $157,322.62 $505.69 $0.00 $889.52 $158,717.83
182 $158,717.83 $505.69 $0.00 $897.41 $160,120.93
183 $160,120.93 $505.69 $0.00 $905.35 $161,531.97
184 $161,531.97 $505.69 $0.00 $913.33 $162,950.99
185 $162,950.99 $505.69 $0.00 $921.35 $164,378.03
186 $164,378.03 $505.69 $0.00 $929.42 $165,813.14
187 $165,813.14 $505.69 $0.00 $937.53 $167,256.36
188 $167,256.36 $505.69 $0.00 $945.69 $168,707.74
189 $168,707.74 $505.69 $0.00 $953.90 $170,167.33
190 $170,167.33 $505.69 $0.00 $962.15 $171,635.17
191 $171,635.17 $505.69 $0.00 $970.45 $173,111.31
192 $173,111.31 $505.69 $0.00 $978.80 $174,595.80
193 $174,595.80 $505.69 $0.00 $987.19 $176,088.68
194 $176,088.68 $505.69 $0.00 $995.63 $177,590.00
195 $177,590.00 $505.69 $0.00 $1,004.12 $179,099.81
196 $179,099.81 $505.69 $0.00 $1,012.66 $180,618.16
197 $180,618.16 $505.69 $0.00 $1,021.24 $182,145.09
198 $182,145.09 $505.69 $0.00 $1,029.87 $183,680.65
199 $183,680.65 $505.69 $0.00 $1,038.56 $185,224.90
200 $185,224.90 $505.69 $0.00 $1,047.29 $186,777.88
201 $186,777.88 $505.69 $0.00 $1,056.07 $188,339.64
202 $188,339.64 $505.69 $0.00 $1,064.90 $189,910.23
203 $189,910.23 $505.69 $0.00 $1,073.78 $191,489.70
204 $191,489.70 $505.69 $0.00 $1,082.71 $193,078.10
205 $193,078.10 $505.69 $0.00 $1,091.69 $194,675.48
206 $194,675.48 $505.69 $0.00 $1,100.72 $196,281.89
207 $196,281.89 $505.69 $0.00 $1,109.81 $197,897.39
208 $197,897.39 $505.69 $0.00 $1,118.94 $199,522.02
209 $199,522.02 $505.69 $0.00 $1,128.13 $201,155.84
210 $201,155.84 $505.69 $0.00 $1,137.36 $202,798.89
211 $202,798.89 $505.69 $0.00 $1,146.65 $204,451.23
212 $204,451.23 $505.69 $0.00 $1,156.00 $206,112.92
213 $206,112.92 $505.69 $0.00 $1,165.39 $207,784.00
214 $207,784.00 $505.69 $0.00 $1,174.84 $209,464.53
215 $209,464.53 $505.69 $0.00 $1,184.34 $211,154.56
216 $211,154.56 $505.69 $0.00 $1,193.90 $212,854.15
217 $212,854.15 $505.69 $59,287.06 $1,203.51 $155,276.29
218 $155,276.29 $505.69 $0.00 $877.95 $156,659.93
219 $156,659.93 $505.69 $0.00 $885.78 $158,051.40
220 $158,051.40 $505.69 $0.00 $893.65 $159,450.74
221 $159,450.74 $505.69 $0.00 $901.56 $160,857.99
222 $160,857.99 $505.69 $0.00 $909.51 $162,273.19
223 $162,273.19 $505.69 $0.00 $917.52 $163,696.40
224 $163,696.40 $505.69 $0.00 $925.56 $165,127.65
225 $165,127.65 $505.69 $0.00 $933.66 $166,567.00
226 $166,567.00 $505.69 $0.00 $941.79 $168,014.48
227 $168,014.48 $505.69 $0.00 $949.98 $169,470.15
228 $169,470.15 $505.69 $0.00 $958.21 $170,934.05
229 $170,934.05 $505.69 $62,251.42 $966.49 $110,154.81
230 $110,154.81 $505.69 $0.00 $622.83 $111,283.33
231 $111,283.33 $505.69 $0.00 $629.21 $112,418.23
232 $112,418.23 $505.69 $0.00 $635.63 $113,559.55
233 $113,559.55 $505.69 $0.00 $642.08 $114,707.32
234 $114,707.32 $505.69 $0.00 $648.57 $115,861.58
235 $115,861.58 $505.69 $0.00 $655.10 $117,022.37
236 $117,022.37 $505.69 $0.00 $661.66 $118,189.72
237 $118,189.72 $505.69 $0.00 $668.26 $119,363.67
238 $119,363.67 $505.69 $0.00 $674.90 $120,544.26
239 $120,544.26 $505.69 $0.00 $681.57 $121,731.52
240 $121,731.52 $505.69 $0.00 $688.29 $122,925.50
241 $122,925.50 $505.69 $65,363.99 $695.04 $58,762.24
242 $58,762.24 $505.69 $0.00 $332.25 $59,600.18
243 $59,600.18 $505.69 $0.00 $336.99 $60,442.86
244 $60,442.86 $505.69 $0.00 $341.75 $61,290.30
245 $61,290.30 $505.69 $0.00 $346.54 $62,142.53
246 $62,142.53 $505.69 $0.00 $351.36 $62,999.58
247 $62,999.58 $505.69 $0.00 $356.21 $63,861.48
248 $63,861.48 $505.69 $0.00 $361.08 $64,728.25
249 $64,728.25 $505.69 $0.00 $365.98 $65,599.92
250 $65,599.92 $505.69 $0.00 $370.91 $66,476.52
251 $66,476.52 $505.69 $0.00 $375.87 $67,358.08
252 $67,358.08 $505.69 $0.00 $380.85 $68,244.62
253 $68,244.62 $0.00 $68,632.19 $385.87 ($1.70)