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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$180,391
Monthly savings required$1,428

How much will it cost to send your child to Smith College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $721,565.15 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,427.95 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$69,563.00
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 $1,427.95 $0.00 $0.00 $1,427.95
2 $1,427.95 $1,427.95 $0.00 $8.07 $2,863.97
3 $2,863.97 $1,427.95 $0.00 $16.19 $4,308.11
4 $4,308.11 $1,427.95 $0.00 $24.36 $5,760.42
5 $5,760.42 $1,427.95 $0.00 $32.57 $7,220.94
6 $7,220.94 $1,427.95 $0.00 $40.83 $8,689.72
7 $8,689.72 $1,427.95 $0.00 $49.13 $10,166.80
8 $10,166.80 $1,427.95 $0.00 $57.48 $11,652.23
9 $11,652.23 $1,427.95 $0.00 $65.88 $13,146.06
10 $13,146.06 $1,427.95 $0.00 $74.33 $14,648.34
11 $14,648.34 $1,427.95 $0.00 $82.82 $16,159.11
12 $16,159.11 $1,427.95 $0.00 $91.37 $17,678.43
13 $17,678.43 $1,427.95 $0.00 $99.96 $19,206.34
14 $19,206.34 $1,427.95 $0.00 $108.60 $20,742.89
15 $20,742.89 $1,427.95 $0.00 $117.28 $22,288.12
16 $22,288.12 $1,427.95 $0.00 $126.02 $23,842.09
17 $23,842.09 $1,427.95 $0.00 $134.81 $25,404.85
18 $25,404.85 $1,427.95 $0.00 $143.64 $26,976.44
19 $26,976.44 $1,427.95 $0.00 $152.53 $28,556.92
20 $28,556.92 $1,427.95 $0.00 $161.46 $30,146.33
21 $30,146.33 $1,427.95 $0.00 $170.45 $31,744.73
22 $31,744.73 $1,427.95 $0.00 $179.49 $33,352.17
23 $33,352.17 $1,427.95 $0.00 $188.58 $34,968.70
24 $34,968.70 $1,427.95 $0.00 $197.72 $36,594.37
25 $36,594.37 $1,427.95 $0.00 $206.91 $38,229.23
26 $38,229.23 $1,427.95 $0.00 $216.15 $39,873.33
27 $39,873.33 $1,427.95 $0.00 $225.45 $41,526.73
28 $41,526.73 $1,427.95 $0.00 $234.80 $43,189.48
29 $43,189.48 $1,427.95 $0.00 $244.20 $44,861.63
30 $44,861.63 $1,427.95 $0.00 $253.65 $46,543.23
31 $46,543.23 $1,427.95 $0.00 $263.16 $48,234.34
32 $48,234.34 $1,427.95 $0.00 $272.72 $49,935.01
33 $49,935.01 $1,427.95 $0.00 $282.34 $51,645.30
34 $51,645.30 $1,427.95 $0.00 $292.01 $53,365.26
35 $53,365.26 $1,427.95 $0.00 $301.73 $55,094.94
36 $55,094.94 $1,427.95 $0.00 $311.51 $56,834.40
37 $56,834.40 $1,427.95 $0.00 $321.35 $58,583.70
38 $58,583.70 $1,427.95 $0.00 $331.24 $60,342.89
39 $60,342.89 $1,427.95 $0.00 $341.19 $62,112.03
40 $62,112.03 $1,427.95 $0.00 $351.19 $63,891.17
41 $63,891.17 $1,427.95 $0.00 $361.25 $65,680.37
42 $65,680.37 $1,427.95 $0.00 $371.37 $67,479.69
43 $67,479.69 $1,427.95 $0.00 $381.54 $69,289.18
44 $69,289.18 $1,427.95 $0.00 $391.77 $71,108.90
45 $71,108.90 $1,427.95 $0.00 $402.06 $72,938.91
46 $72,938.91 $1,427.95 $0.00 $412.41 $74,779.27
47 $74,779.27 $1,427.95 $0.00 $422.81 $76,630.03
48 $76,630.03 $1,427.95 $0.00 $433.28 $78,491.26
49 $78,491.26 $1,427.95 $0.00 $443.80 $80,363.01
50 $80,363.01 $1,427.95 $0.00 $454.38 $82,245.34
51 $82,245.34 $1,427.95 $0.00 $465.03 $84,138.32
52 $84,138.32 $1,427.95 $0.00 $475.73 $86,042.00
53 $86,042.00 $1,427.95 $0.00 $486.49 $87,956.44
54 $87,956.44 $1,427.95 $0.00 $497.32 $89,881.71
55 $89,881.71 $1,427.95 $0.00 $508.20 $91,817.86
56 $91,817.86 $1,427.95 $0.00 $519.15 $93,764.96
57 $93,764.96 $1,427.95 $0.00 $530.16 $95,723.07
58 $95,723.07 $1,427.95 $0.00 $541.23 $97,692.25
59 $97,692.25 $1,427.95 $0.00 $552.37 $99,672.57
60 $99,672.57 $1,427.95 $0.00 $563.56 $101,664.08
61 $101,664.08 $1,427.95 $0.00 $574.82 $103,666.85
62 $103,666.85 $1,427.95 $0.00 $586.15 $105,680.95
63 $105,680.95 $1,427.95 $0.00 $597.54 $107,706.44
64 $107,706.44 $1,427.95 $0.00 $608.99 $109,743.38
65 $109,743.38 $1,427.95 $0.00 $620.51 $111,791.84
66 $111,791.84 $1,427.95 $0.00 $632.09 $113,851.88
67 $113,851.88 $1,427.95 $0.00 $643.74 $115,923.57
68 $115,923.57 $1,427.95 $0.00 $655.45 $118,006.97
69 $118,006.97 $1,427.95 $0.00 $667.23 $120,102.15
70 $120,102.15 $1,427.95 $0.00 $679.08 $122,209.18
71 $122,209.18 $1,427.95 $0.00 $690.99 $124,328.12
72 $124,328.12 $1,427.95 $0.00 $702.97 $126,459.04
73 $126,459.04 $1,427.95 $0.00 $715.02 $128,602.01
74 $128,602.01 $1,427.95 $0.00 $727.13 $130,757.09
75 $130,757.09 $1,427.95 $0.00 $739.32 $132,924.36
76 $132,924.36 $1,427.95 $0.00 $751.57 $135,103.88
77 $135,103.88 $1,427.95 $0.00 $763.90 $137,295.73
78 $137,295.73 $1,427.95 $0.00 $776.29 $139,499.97
79 $139,499.97 $1,427.95 $0.00 $788.75 $141,716.67
80 $141,716.67 $1,427.95 $0.00 $801.29 $143,945.91
81 $143,945.91 $1,427.95 $0.00 $813.89 $146,187.75
82 $146,187.75 $1,427.95 $0.00 $826.57 $148,442.27
83 $148,442.27 $1,427.95 $0.00 $839.31 $150,709.53
84 $150,709.53 $1,427.95 $0.00 $852.13 $152,989.61
85 $152,989.61 $1,427.95 $0.00 $865.03 $155,282.59
86 $155,282.59 $1,427.95 $0.00 $877.99 $157,588.53
87 $157,588.53 $1,427.95 $0.00 $891.03 $159,907.51
88 $159,907.51 $1,427.95 $0.00 $904.14 $162,239.60
89 $162,239.60 $1,427.95 $0.00 $917.33 $164,584.88
90 $164,584.88 $1,427.95 $0.00 $930.59 $166,943.42
91 $166,943.42 $1,427.95 $0.00 $943.92 $169,315.29
92 $169,315.29 $1,427.95 $0.00 $957.33 $171,700.57
93 $171,700.57 $1,427.95 $0.00 $970.82 $174,099.34
94 $174,099.34 $1,427.95 $0.00 $984.38 $176,511.67
95 $176,511.67 $1,427.95 $0.00 $998.02 $178,937.64
96 $178,937.64 $1,427.95 $0.00 $1,011.74 $181,377.33
97 $181,377.33 $1,427.95 $0.00 $1,025.53 $183,830.81
98 $183,830.81 $1,427.95 $0.00 $1,039.41 $186,298.17
99 $186,298.17 $1,427.95 $0.00 $1,053.36 $188,779.48
100 $188,779.48 $1,427.95 $0.00 $1,067.39 $191,274.82
101 $191,274.82 $1,427.95 $0.00 $1,081.50 $193,784.27
102 $193,784.27 $1,427.95 $0.00 $1,095.68 $196,307.90
103 $196,307.90 $1,427.95 $0.00 $1,109.95 $198,845.80
104 $198,845.80 $1,427.95 $0.00 $1,124.30 $201,398.05
105 $201,398.05 $1,427.95 $0.00 $1,138.73 $203,964.73
106 $203,964.73 $1,427.95 $0.00 $1,153.25 $206,545.93
107 $206,545.93 $1,427.95 $0.00 $1,167.84 $209,141.72
108 $209,141.72 $1,427.95 $0.00 $1,182.52 $211,752.19
109 $211,752.19 $1,427.95 $0.00 $1,197.28 $214,377.42
110 $214,377.42 $1,427.95 $0.00 $1,212.12 $217,017.49
111 $217,017.49 $1,427.95 $0.00 $1,227.05 $219,672.49
112 $219,672.49 $1,427.95 $0.00 $1,242.06 $222,342.50
113 $222,342.50 $1,427.95 $0.00 $1,257.16 $225,027.61
114 $225,027.61 $1,427.95 $0.00 $1,272.34 $227,727.90
115 $227,727.90 $1,427.95 $0.00 $1,287.61 $230,443.46
116 $230,443.46 $1,427.95 $0.00 $1,302.96 $233,174.37
117 $233,174.37 $1,427.95 $0.00 $1,318.40 $235,920.72
118 $235,920.72 $1,427.95 $0.00 $1,333.93 $238,682.60
119 $238,682.60 $1,427.95 $0.00 $1,349.55 $241,460.10
120 $241,460.10 $1,427.95 $0.00 $1,365.25 $244,253.30
121 $244,253.30 $1,427.95 $0.00 $1,381.04 $247,062.29
122 $247,062.29 $1,427.95 $0.00 $1,396.93 $249,887.17
123 $249,887.17 $1,427.95 $0.00 $1,412.90 $252,728.02
124 $252,728.02 $1,427.95 $0.00 $1,428.96 $255,584.93
125 $255,584.93 $1,427.95 $0.00 $1,445.11 $258,457.99
126 $258,457.99 $1,427.95 $0.00 $1,461.36 $261,347.30
127 $261,347.30 $1,427.95 $0.00 $1,477.70 $264,252.95
128 $264,252.95 $1,427.95 $0.00 $1,494.12 $267,175.02
129 $267,175.02 $1,427.95 $0.00 $1,510.65 $270,113.62
130 $270,113.62 $1,427.95 $0.00 $1,527.26 $273,068.83
131 $273,068.83 $1,427.95 $0.00 $1,543.97 $276,040.75
132 $276,040.75 $1,427.95 $0.00 $1,560.77 $279,029.47
133 $279,029.47 $1,427.95 $0.00 $1,577.67 $282,035.09
134 $282,035.09 $1,427.95 $0.00 $1,594.67 $285,057.71
135 $285,057.71 $1,427.95 $0.00 $1,611.76 $288,097.42
136 $288,097.42 $1,427.95 $0.00 $1,628.94 $291,154.31
137 $291,154.31 $1,427.95 $0.00 $1,646.23 $294,228.49
138 $294,228.49 $1,427.95 $0.00 $1,663.61 $297,320.05
139 $297,320.05 $1,427.95 $0.00 $1,681.09 $300,429.09
140 $300,429.09 $1,427.95 $0.00 $1,698.67 $303,555.71
141 $303,555.71 $1,427.95 $0.00 $1,716.35 $306,700.01
142 $306,700.01 $1,427.95 $0.00 $1,734.13 $309,862.09
143 $309,862.09 $1,427.95 $0.00 $1,752.01 $313,042.05
144 $313,042.05 $1,427.95 $0.00 $1,769.99 $316,239.99
145 $316,239.99 $1,427.95 $0.00 $1,788.07 $319,456.01
146 $319,456.01 $1,427.95 $0.00 $1,806.25 $322,690.21
147 $322,690.21 $1,427.95 $0.00 $1,824.54 $325,942.70
148 $325,942.70 $1,427.95 $0.00 $1,842.93 $329,213.58
149 $329,213.58 $1,427.95 $0.00 $1,861.42 $332,502.95
150 $332,502.95 $1,427.95 $0.00 $1,880.02 $335,810.92
151 $335,810.92 $1,427.95 $0.00 $1,898.72 $339,137.59
152 $339,137.59 $1,427.95 $0.00 $1,917.53 $342,483.07
153 $342,483.07 $1,427.95 $0.00 $1,936.45 $345,847.47
154 $345,847.47 $1,427.95 $0.00 $1,955.47 $349,230.89
155 $349,230.89 $1,427.95 $0.00 $1,974.60 $352,633.44
156 $352,633.44 $1,427.95 $0.00 $1,993.84 $356,055.23
157 $356,055.23 $1,427.95 $0.00 $2,013.19 $359,496.37
158 $359,496.37 $1,427.95 $0.00 $2,032.64 $362,956.96
159 $362,956.96 $1,427.95 $0.00 $2,052.21 $366,437.12
160 $366,437.12 $1,427.95 $0.00 $2,071.89 $369,936.96
161 $369,936.96 $1,427.95 $0.00 $2,091.68 $373,456.59
162 $373,456.59 $1,427.95 $0.00 $2,111.58 $376,996.12
163 $376,996.12 $1,427.95 $0.00 $2,131.59 $380,555.66
164 $380,555.66 $1,427.95 $0.00 $2,151.72 $384,135.33
165 $384,135.33 $1,427.95 $0.00 $2,171.96 $387,735.24
166 $387,735.24 $1,427.95 $0.00 $2,192.31 $391,355.50
167 $391,355.50 $1,427.95 $0.00 $2,212.78 $394,996.23
168 $394,996.23 $1,427.95 $0.00 $2,233.37 $398,657.55
169 $398,657.55 $1,427.95 $0.00 $2,254.07 $402,339.57
170 $402,339.57 $1,427.95 $0.00 $2,274.89 $406,042.41
171 $406,042.41 $1,427.95 $0.00 $2,295.82 $409,766.18
172 $409,766.18 $1,427.95 $0.00 $2,316.88 $413,511.01
173 $413,511.01 $1,427.95 $0.00 $2,338.05 $417,277.01
174 $417,277.01 $1,427.95 $0.00 $2,359.34 $421,064.30
175 $421,064.30 $1,427.95 $0.00 $2,380.76 $424,873.01
176 $424,873.01 $1,427.95 $0.00 $2,402.29 $428,703.25
177 $428,703.25 $1,427.95 $0.00 $2,423.95 $432,555.15
178 $432,555.15 $1,427.95 $0.00 $2,445.73 $436,428.83
179 $436,428.83 $1,427.95 $0.00 $2,467.63 $440,324.41
180 $440,324.41 $1,427.95 $0.00 $2,489.66 $444,242.02
181 $444,242.02 $1,427.95 $0.00 $2,511.81 $448,181.78
182 $448,181.78 $1,427.95 $0.00 $2,534.08 $452,143.81
183 $452,143.81 $1,427.95 $0.00 $2,556.49 $456,128.25
184 $456,128.25 $1,427.95 $0.00 $2,579.02 $460,135.22
185 $460,135.22 $1,427.95 $0.00 $2,601.67 $464,164.84
186 $464,164.84 $1,427.95 $0.00 $2,624.46 $468,217.25
187 $468,217.25 $1,427.95 $0.00 $2,647.37 $472,292.57
188 $472,292.57 $1,427.95 $0.00 $2,670.41 $476,390.93
189 $476,390.93 $1,427.95 $0.00 $2,693.58 $480,512.46
190 $480,512.46 $1,427.95 $0.00 $2,716.89 $484,657.30
191 $484,657.30 $1,427.95 $0.00 $2,740.32 $488,825.57
192 $488,825.57 $1,427.95 $0.00 $2,763.89 $493,017.41
193 $493,017.41 $1,427.95 $0.00 $2,787.59 $497,232.95
194 $497,232.95 $1,427.95 $0.00 $2,811.43 $501,472.33
195 $501,472.33 $1,427.95 $0.00 $2,835.40 $505,735.68
196 $505,735.68 $1,427.95 $0.00 $2,859.50 $510,023.13
197 $510,023.13 $1,427.95 $0.00 $2,883.74 $514,334.82
198 $514,334.82 $1,427.95 $0.00 $2,908.12 $518,670.89
199 $518,670.89 $1,427.95 $0.00 $2,932.64 $523,031.48
200 $523,031.48 $1,427.95 $0.00 $2,957.30 $527,416.73
201 $527,416.73 $1,427.95 $0.00 $2,982.09 $531,826.77
202 $531,826.77 $1,427.95 $0.00 $3,007.03 $536,261.75
203 $536,261.75 $1,427.95 $0.00 $3,032.10 $540,721.80
204 $540,721.80 $1,427.95 $0.00 $3,057.32 $545,207.07
205 $545,207.07 $1,427.95 $0.00 $3,082.68 $549,717.70
206 $549,717.70 $1,427.95 $0.00 $3,108.18 $554,253.83
207 $554,253.83 $1,427.95 $0.00 $3,133.83 $558,815.61
208 $558,815.61 $1,427.95 $0.00 $3,159.62 $563,403.18
209 $563,403.18 $1,427.95 $0.00 $3,185.56 $568,016.69
210 $568,016.69 $1,427.95 $0.00 $3,211.65 $572,656.29
211 $572,656.29 $1,427.95 $0.00 $3,237.88 $577,322.12
212 $577,322.12 $1,427.95 $0.00 $3,264.26 $582,014.33
213 $582,014.33 $1,427.95 $0.00 $3,290.79 $586,733.07
214 $586,733.07 $1,427.95 $0.00 $3,317.47 $591,478.49
215 $591,478.49 $1,427.95 $0.00 $3,344.31 $596,250.75
216 $596,250.75 $1,427.95 $0.00 $3,371.29 $601,049.99
217 $601,049.99 $1,427.95 $167,411.65 $3,398.42 $438,464.71
218 $438,464.71 $1,427.95 $0.00 $2,479.14 $442,371.80
219 $442,371.80 $1,427.95 $0.00 $2,501.23 $446,300.98
220 $446,300.98 $1,427.95 $0.00 $2,523.45 $450,252.38
221 $450,252.38 $1,427.95 $0.00 $2,545.79 $454,226.12
222 $454,226.12 $1,427.95 $0.00 $2,568.26 $458,222.33
223 $458,222.33 $1,427.95 $0.00 $2,590.86 $462,241.14
224 $462,241.14 $1,427.95 $0.00 $2,613.58 $466,282.67
225 $466,282.67 $1,427.95 $0.00 $2,636.43 $470,347.05
226 $470,347.05 $1,427.95 $0.00 $2,659.41 $474,434.41
227 $474,434.41 $1,427.95 $0.00 $2,682.52 $478,544.88
228 $478,544.88 $1,427.95 $0.00 $2,705.76 $482,678.59
229 $482,678.59 $1,427.95 $175,782.24 $2,729.13 $311,053.43
230 $311,053.43 $1,427.95 $0.00 $1,758.74 $314,240.12
231 $314,240.12 $1,427.95 $0.00 $1,776.76 $317,444.83
232 $317,444.83 $1,427.95 $0.00 $1,794.88 $320,667.66
233 $320,667.66 $1,427.95 $0.00 $1,813.10 $323,908.71
234 $323,908.71 $1,427.95 $0.00 $1,831.43 $327,168.09
235 $327,168.09 $1,427.95 $0.00 $1,849.86 $330,445.90
236 $330,445.90 $1,427.95 $0.00 $1,868.39 $333,742.24
237 $333,742.24 $1,427.95 $0.00 $1,887.03 $337,057.22
238 $337,057.22 $1,427.95 $0.00 $1,905.77 $340,390.94
239 $340,390.94 $1,427.95 $0.00 $1,924.62 $343,743.51
240 $343,743.51 $1,427.95 $0.00 $1,943.58 $347,115.04
241 $347,115.04 $1,427.95 $184,571.35 $1,962.64 $165,934.28
242 $165,934.28 $1,427.95 $0.00 $938.22 $168,300.45
243 $168,300.45 $1,427.95 $0.00 $951.60 $170,680.00
244 $170,680.00 $1,427.95 $0.00 $965.05 $173,073.00
245 $173,073.00 $1,427.95 $0.00 $978.58 $175,479.53
246 $175,479.53 $1,427.95 $0.00 $992.19 $177,899.67
247 $177,899.67 $1,427.95 $0.00 $1,005.87 $180,333.49
248 $180,333.49 $1,427.95 $0.00 $1,019.63 $182,781.07
249 $182,781.07 $1,427.95 $0.00 $1,033.47 $185,242.49
250 $185,242.49 $1,427.95 $0.00 $1,047.39 $187,717.83
251 $187,717.83 $1,427.95 $0.00 $1,061.38 $190,207.16
252 $190,207.16 $1,427.95 $0.00 $1,075.46 $192,710.57
253 $192,710.57 $0.00 $193,799.92 $1,089.61 $0.26