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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$179,019
Monthly savings required$1,417

How much will it cost to send your child to Wellesley College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $716,077.93 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,417.10 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$69,034.00
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 $1,417.10 $0.00 $0.00 $1,417.10
2 $1,417.10 $1,417.10 $0.00 $8.01 $2,842.21
3 $2,842.21 $1,417.10 $0.00 $16.07 $4,275.38
4 $4,275.38 $1,417.10 $0.00 $24.17 $5,716.65
5 $5,716.65 $1,417.10 $0.00 $32.32 $7,166.07
6 $7,166.07 $1,417.10 $0.00 $40.52 $8,623.69
7 $8,623.69 $1,417.10 $0.00 $48.76 $10,089.55
8 $10,089.55 $1,417.10 $0.00 $57.05 $11,563.70
9 $11,563.70 $1,417.10 $0.00 $65.38 $13,046.18
10 $13,046.18 $1,417.10 $0.00 $73.76 $14,537.04
11 $14,537.04 $1,417.10 $0.00 $82.19 $16,036.33
12 $16,036.33 $1,417.10 $0.00 $90.67 $17,544.10
13 $17,544.10 $1,417.10 $0.00 $99.20 $19,060.40
14 $19,060.40 $1,417.10 $0.00 $107.77 $20,585.27
15 $20,585.27 $1,417.10 $0.00 $116.39 $22,118.76
16 $22,118.76 $1,417.10 $0.00 $125.06 $23,660.92
17 $23,660.92 $1,417.10 $0.00 $133.78 $25,211.80
18 $25,211.80 $1,417.10 $0.00 $142.55 $26,771.45
19 $26,771.45 $1,417.10 $0.00 $151.37 $28,339.92
20 $28,339.92 $1,417.10 $0.00 $160.24 $29,917.26
21 $29,917.26 $1,417.10 $0.00 $169.16 $31,503.52
22 $31,503.52 $1,417.10 $0.00 $178.13 $33,098.75
23 $33,098.75 $1,417.10 $0.00 $187.15 $34,703.00
24 $34,703.00 $1,417.10 $0.00 $196.22 $36,316.32
25 $36,316.32 $1,417.10 $0.00 $205.34 $37,938.76
26 $37,938.76 $1,417.10 $0.00 $214.51 $39,570.37
27 $39,570.37 $1,417.10 $0.00 $223.74 $41,211.21
28 $41,211.21 $1,417.10 $0.00 $233.01 $42,861.32
29 $42,861.32 $1,417.10 $0.00 $242.34 $44,520.76
30 $44,520.76 $1,417.10 $0.00 $251.73 $46,189.59
31 $46,189.59 $1,417.10 $0.00 $261.16 $47,867.85
32 $47,867.85 $1,417.10 $0.00 $270.65 $49,555.60
33 $49,555.60 $1,417.10 $0.00 $280.19 $51,252.89
34 $51,252.89 $1,417.10 $0.00 $289.79 $52,959.78
35 $52,959.78 $1,417.10 $0.00 $299.44 $54,676.32
36 $54,676.32 $1,417.10 $0.00 $309.15 $56,402.57
37 $56,402.57 $1,417.10 $0.00 $318.91 $58,138.58
38 $58,138.58 $1,417.10 $0.00 $328.72 $59,884.40
39 $59,884.40 $1,417.10 $0.00 $338.60 $61,640.10
40 $61,640.10 $1,417.10 $0.00 $348.52 $63,405.72
41 $63,405.72 $1,417.10 $0.00 $358.51 $65,181.33
42 $65,181.33 $1,417.10 $0.00 $368.54 $66,966.97
43 $66,966.97 $1,417.10 $0.00 $378.64 $68,762.71
44 $68,762.71 $1,417.10 $0.00 $388.79 $70,568.60
45 $70,568.60 $1,417.10 $0.00 $399.01 $72,384.71
46 $72,384.71 $1,417.10 $0.00 $409.27 $74,211.08
47 $74,211.08 $1,417.10 $0.00 $419.60 $76,047.78
48 $76,047.78 $1,417.10 $0.00 $429.99 $77,894.87
49 $77,894.87 $1,417.10 $0.00 $440.43 $79,752.40
50 $79,752.40 $1,417.10 $0.00 $450.93 $81,620.43
51 $81,620.43 $1,417.10 $0.00 $461.49 $83,499.02
52 $83,499.02 $1,417.10 $0.00 $472.12 $85,388.24
53 $85,388.24 $1,417.10 $0.00 $482.80 $87,288.14
54 $87,288.14 $1,417.10 $0.00 $493.54 $89,198.78
55 $89,198.78 $1,417.10 $0.00 $504.34 $91,120.22
56 $91,120.22 $1,417.10 $0.00 $515.21 $93,052.53
57 $93,052.53 $1,417.10 $0.00 $526.13 $94,995.76
58 $94,995.76 $1,417.10 $0.00 $537.12 $96,949.98
59 $96,949.98 $1,417.10 $0.00 $548.17 $98,915.25
60 $98,915.25 $1,417.10 $0.00 $559.28 $100,891.63
61 $100,891.63 $1,417.10 $0.00 $570.46 $102,879.19
62 $102,879.19 $1,417.10 $0.00 $581.69 $104,877.98
63 $104,877.98 $1,417.10 $0.00 $593.00 $106,888.08
64 $106,888.08 $1,417.10 $0.00 $604.36 $108,909.54
65 $108,909.54 $1,417.10 $0.00 $615.79 $110,942.43
66 $110,942.43 $1,417.10 $0.00 $627.28 $112,986.81
67 $112,986.81 $1,417.10 $0.00 $638.84 $115,042.75
68 $115,042.75 $1,417.10 $0.00 $650.47 $117,110.32
69 $117,110.32 $1,417.10 $0.00 $662.16 $119,189.58
70 $119,189.58 $1,417.10 $0.00 $673.92 $121,280.60
71 $121,280.60 $1,417.10 $0.00 $685.74 $123,383.44
72 $123,383.44 $1,417.10 $0.00 $697.63 $125,498.17
73 $125,498.17 $1,417.10 $0.00 $709.58 $127,624.85
74 $127,624.85 $1,417.10 $0.00 $721.61 $129,763.56
75 $129,763.56 $1,417.10 $0.00 $733.70 $131,914.36
76 $131,914.36 $1,417.10 $0.00 $745.86 $134,077.32
77 $134,077.32 $1,417.10 $0.00 $758.09 $136,252.51
78 $136,252.51 $1,417.10 $0.00 $770.39 $138,440.00
79 $138,440.00 $1,417.10 $0.00 $782.76 $140,639.86
80 $140,639.86 $1,417.10 $0.00 $795.20 $142,852.16
81 $142,852.16 $1,417.10 $0.00 $807.71 $145,076.97
82 $145,076.97 $1,417.10 $0.00 $820.29 $147,314.36
83 $147,314.36 $1,417.10 $0.00 $832.94 $149,564.40
84 $149,564.40 $1,417.10 $0.00 $845.66 $151,827.16
85 $151,827.16 $1,417.10 $0.00 $858.45 $154,102.71
86 $154,102.71 $1,417.10 $0.00 $871.32 $156,391.13
87 $156,391.13 $1,417.10 $0.00 $884.26 $158,692.49
88 $158,692.49 $1,417.10 $0.00 $897.27 $161,006.86
89 $161,006.86 $1,417.10 $0.00 $910.36 $163,334.32
90 $163,334.32 $1,417.10 $0.00 $923.52 $165,674.94
91 $165,674.94 $1,417.10 $0.00 $936.75 $168,028.79
92 $168,028.79 $1,417.10 $0.00 $950.06 $170,395.95
93 $170,395.95 $1,417.10 $0.00 $963.44 $172,776.49
94 $172,776.49 $1,417.10 $0.00 $976.90 $175,170.49
95 $175,170.49 $1,417.10 $0.00 $990.44 $177,578.03
96 $177,578.03 $1,417.10 $0.00 $1,004.05 $179,999.18
97 $179,999.18 $1,417.10 $0.00 $1,017.74 $182,434.02
98 $182,434.02 $1,417.10 $0.00 $1,031.51 $184,882.63
99 $184,882.63 $1,417.10 $0.00 $1,045.35 $187,345.08
100 $187,345.08 $1,417.10 $0.00 $1,059.28 $189,821.46
101 $189,821.46 $1,417.10 $0.00 $1,073.28 $192,311.84
102 $192,311.84 $1,417.10 $0.00 $1,087.36 $194,816.30
103 $194,816.30 $1,417.10 $0.00 $1,101.52 $197,334.92
104 $197,334.92 $1,417.10 $0.00 $1,115.76 $199,867.78
105 $199,867.78 $1,417.10 $0.00 $1,130.08 $202,414.96
106 $202,414.96 $1,417.10 $0.00 $1,144.48 $204,976.54
107 $204,976.54 $1,417.10 $0.00 $1,158.97 $207,552.61
108 $207,552.61 $1,417.10 $0.00 $1,173.53 $210,143.24
109 $210,143.24 $1,417.10 $0.00 $1,188.18 $212,748.52
110 $212,748.52 $1,417.10 $0.00 $1,202.91 $215,368.53
111 $215,368.53 $1,417.10 $0.00 $1,217.72 $218,003.35
112 $218,003.35 $1,417.10 $0.00 $1,232.62 $220,653.07
113 $220,653.07 $1,417.10 $0.00 $1,247.60 $223,317.77
114 $223,317.77 $1,417.10 $0.00 $1,262.67 $225,997.54
115 $225,997.54 $1,417.10 $0.00 $1,277.82 $228,692.46
116 $228,692.46 $1,417.10 $0.00 $1,293.06 $231,402.62
117 $231,402.62 $1,417.10 $0.00 $1,308.38 $234,128.10
118 $234,128.10 $1,417.10 $0.00 $1,323.79 $236,868.99
119 $236,868.99 $1,417.10 $0.00 $1,339.29 $239,625.38
120 $239,625.38 $1,417.10 $0.00 $1,354.88 $242,397.36
121 $242,397.36 $1,417.10 $0.00 $1,370.55 $245,185.01
122 $245,185.01 $1,417.10 $0.00 $1,386.31 $247,988.42
123 $247,988.42 $1,417.10 $0.00 $1,402.16 $250,807.68
124 $250,807.68 $1,417.10 $0.00 $1,418.10 $253,642.88
125 $253,642.88 $1,417.10 $0.00 $1,434.13 $256,494.11
126 $256,494.11 $1,417.10 $0.00 $1,450.25 $259,361.46
127 $259,361.46 $1,417.10 $0.00 $1,466.47 $262,245.03
128 $262,245.03 $1,417.10 $0.00 $1,482.77 $265,144.90
129 $265,144.90 $1,417.10 $0.00 $1,499.17 $268,061.17
130 $268,061.17 $1,417.10 $0.00 $1,515.66 $270,993.93
131 $270,993.93 $1,417.10 $0.00 $1,532.24 $273,943.27
132 $273,943.27 $1,417.10 $0.00 $1,548.92 $276,909.29
133 $276,909.29 $1,417.10 $0.00 $1,565.69 $279,892.08
134 $279,892.08 $1,417.10 $0.00 $1,582.55 $282,891.73
135 $282,891.73 $1,417.10 $0.00 $1,599.51 $285,908.34
136 $285,908.34 $1,417.10 $0.00 $1,616.57 $288,942.01
137 $288,942.01 $1,417.10 $0.00 $1,633.72 $291,992.83
138 $291,992.83 $1,417.10 $0.00 $1,650.97 $295,060.90
139 $295,060.90 $1,417.10 $0.00 $1,668.32 $298,146.32
140 $298,146.32 $1,417.10 $0.00 $1,685.76 $301,249.18
141 $301,249.18 $1,417.10 $0.00 $1,703.31 $304,369.59
142 $304,369.59 $1,417.10 $0.00 $1,720.95 $307,507.64
143 $307,507.64 $1,417.10 $0.00 $1,738.69 $310,663.43
144 $310,663.43 $1,417.10 $0.00 $1,756.54 $313,837.07
145 $313,837.07 $1,417.10 $0.00 $1,774.48 $317,028.65
146 $317,028.65 $1,417.10 $0.00 $1,792.53 $320,238.28
147 $320,238.28 $1,417.10 $0.00 $1,810.67 $323,466.05
148 $323,466.05 $1,417.10 $0.00 $1,828.92 $326,712.07
149 $326,712.07 $1,417.10 $0.00 $1,847.28 $329,976.45
150 $329,976.45 $1,417.10 $0.00 $1,865.73 $333,259.28
151 $333,259.28 $1,417.10 $0.00 $1,884.30 $336,560.68
152 $336,560.68 $1,417.10 $0.00 $1,902.96 $339,880.74
153 $339,880.74 $1,417.10 $0.00 $1,921.74 $343,219.58
154 $343,219.58 $1,417.10 $0.00 $1,940.61 $346,577.29
155 $346,577.29 $1,417.10 $0.00 $1,959.60 $349,953.99
156 $349,953.99 $1,417.10 $0.00 $1,978.69 $353,349.78
157 $353,349.78 $1,417.10 $0.00 $1,997.89 $356,764.77
158 $356,764.77 $1,417.10 $0.00 $2,017.20 $360,199.07
159 $360,199.07 $1,417.10 $0.00 $2,036.62 $363,652.79
160 $363,652.79 $1,417.10 $0.00 $2,056.15 $367,126.04
161 $367,126.04 $1,417.10 $0.00 $2,075.78 $370,618.92
162 $370,618.92 $1,417.10 $0.00 $2,095.53 $374,131.55
163 $374,131.55 $1,417.10 $0.00 $2,115.39 $377,664.04
164 $377,664.04 $1,417.10 $0.00 $2,135.37 $381,216.51
165 $381,216.51 $1,417.10 $0.00 $2,155.45 $384,789.06
166 $384,789.06 $1,417.10 $0.00 $2,175.65 $388,381.81
167 $388,381.81 $1,417.10 $0.00 $2,195.97 $391,994.88
168 $391,994.88 $1,417.10 $0.00 $2,216.40 $395,628.38
169 $395,628.38 $1,417.10 $0.00 $2,236.94 $399,282.42
170 $399,282.42 $1,417.10 $0.00 $2,257.60 $402,957.12
171 $402,957.12 $1,417.10 $0.00 $2,278.38 $406,652.60
172 $406,652.60 $1,417.10 $0.00 $2,299.27 $410,368.97
173 $410,368.97 $1,417.10 $0.00 $2,320.29 $414,106.36
174 $414,106.36 $1,417.10 $0.00 $2,341.42 $417,864.88
175 $417,864.88 $1,417.10 $0.00 $2,362.67 $421,644.65
176 $421,644.65 $1,417.10 $0.00 $2,384.04 $425,445.79
177 $425,445.79 $1,417.10 $0.00 $2,405.53 $429,268.42
178 $429,268.42 $1,417.10 $0.00 $2,427.15 $433,112.67
179 $433,112.67 $1,417.10 $0.00 $2,448.88 $436,978.65
180 $436,978.65 $1,417.10 $0.00 $2,470.74 $440,866.49
181 $440,866.49 $1,417.10 $0.00 $2,492.72 $444,776.31
182 $444,776.31 $1,417.10 $0.00 $2,514.83 $448,708.24
183 $448,708.24 $1,417.10 $0.00 $2,537.06 $452,662.40
184 $452,662.40 $1,417.10 $0.00 $2,559.42 $456,638.92
185 $456,638.92 $1,417.10 $0.00 $2,581.90 $460,637.92
186 $460,637.92 $1,417.10 $0.00 $2,604.51 $464,659.53
187 $464,659.53 $1,417.10 $0.00 $2,627.25 $468,703.88
188 $468,703.88 $1,417.10 $0.00 $2,650.12 $472,771.10
189 $472,771.10 $1,417.10 $0.00 $2,673.12 $476,861.32
190 $476,861.32 $1,417.10 $0.00 $2,696.24 $480,974.66
191 $480,974.66 $1,417.10 $0.00 $2,719.50 $485,111.26
192 $485,111.26 $1,417.10 $0.00 $2,742.89 $489,271.25
193 $489,271.25 $1,417.10 $0.00 $2,766.41 $493,454.76
194 $493,454.76 $1,417.10 $0.00 $2,790.06 $497,661.92
195 $497,661.92 $1,417.10 $0.00 $2,813.85 $501,892.87
196 $501,892.87 $1,417.10 $0.00 $2,837.78 $506,147.75
197 $506,147.75 $1,417.10 $0.00 $2,861.83 $510,426.68
198 $510,426.68 $1,417.10 $0.00 $2,886.03 $514,729.81
199 $514,729.81 $1,417.10 $0.00 $2,910.36 $519,057.27
200 $519,057.27 $1,417.10 $0.00 $2,934.83 $523,409.20
201 $523,409.20 $1,417.10 $0.00 $2,959.43 $527,785.73
202 $527,785.73 $1,417.10 $0.00 $2,984.18 $532,187.01
203 $532,187.01 $1,417.10 $0.00 $3,009.06 $536,613.17
204 $536,613.17 $1,417.10 $0.00 $3,034.09 $541,064.36
205 $541,064.36 $1,417.10 $0.00 $3,059.26 $545,540.72
206 $545,540.72 $1,417.10 $0.00 $3,084.57 $550,042.39
207 $550,042.39 $1,417.10 $0.00 $3,110.02 $554,569.51
208 $554,569.51 $1,417.10 $0.00 $3,135.62 $559,122.23
209 $559,122.23 $1,417.10 $0.00 $3,161.36 $563,700.69
210 $563,700.69 $1,417.10 $0.00 $3,187.25 $568,305.04
211 $568,305.04 $1,417.10 $0.00 $3,213.28 $572,935.42
212 $572,935.42 $1,417.10 $0.00 $3,239.46 $577,591.98
213 $577,591.98 $1,417.10 $0.00 $3,265.79 $582,274.87
214 $582,274.87 $1,417.10 $0.00 $3,292.27 $586,984.24
215 $586,984.24 $1,417.10 $0.00 $3,318.89 $591,720.23
216 $591,720.23 $1,417.10 $0.00 $3,345.67 $596,483.00
217 $596,483.00 $1,417.10 $166,138.55 $3,372.60 $435,134.15
218 $435,134.15 $1,417.10 $0.00 $2,460.31 $439,011.56
219 $439,011.56 $1,417.10 $0.00 $2,482.24 $442,910.90
220 $442,910.90 $1,417.10 $0.00 $2,504.28 $446,832.28
221 $446,832.28 $1,417.10 $0.00 $2,526.45 $450,775.83
222 $450,775.83 $1,417.10 $0.00 $2,548.75 $454,741.68
223 $454,741.68 $1,417.10 $0.00 $2,571.18 $458,729.96
224 $458,729.96 $1,417.10 $0.00 $2,593.73 $462,740.79
225 $462,740.79 $1,417.10 $0.00 $2,616.40 $466,774.29
226 $466,774.29 $1,417.10 $0.00 $2,639.21 $470,830.60
227 $470,830.60 $1,417.10 $0.00 $2,662.14 $474,909.84
228 $474,909.84 $1,417.10 $0.00 $2,685.21 $479,012.15
229 $479,012.15 $1,417.10 $174,445.48 $2,708.40 $308,692.17
230 $308,692.17 $1,417.10 $0.00 $1,745.39 $311,854.66
231 $311,854.66 $1,417.10 $0.00 $1,763.27 $315,035.03
232 $315,035.03 $1,417.10 $0.00 $1,781.25 $318,233.38
233 $318,233.38 $1,417.10 $0.00 $1,799.34 $321,449.82
234 $321,449.82 $1,417.10 $0.00 $1,817.52 $324,684.44
235 $324,684.44 $1,417.10 $0.00 $1,835.81 $327,937.35
236 $327,937.35 $1,417.10 $0.00 $1,854.21 $331,208.66
237 $331,208.66 $1,417.10 $0.00 $1,872.70 $334,498.46
238 $334,498.46 $1,417.10 $0.00 $1,891.30 $337,806.86
239 $337,806.86 $1,417.10 $0.00 $1,910.01 $341,133.97
240 $341,133.97 $1,417.10 $0.00 $1,928.82 $344,479.89
241 $344,479.89 $1,417.10 $183,167.75 $1,947.74 $164,676.98
242 $164,676.98 $1,417.10 $0.00 $931.11 $167,025.19
243 $167,025.19 $1,417.10 $0.00 $944.38 $169,386.67
244 $169,386.67 $1,417.10 $0.00 $957.74 $171,761.51
245 $171,761.51 $1,417.10 $0.00 $971.16 $174,149.77
246 $174,149.77 $1,417.10 $0.00 $984.67 $176,551.54
247 $176,551.54 $1,417.10 $0.00 $998.25 $178,966.89
248 $178,966.89 $1,417.10 $0.00 $1,011.90 $181,395.89
249 $181,395.89 $1,417.10 $0.00 $1,025.64 $183,838.63
250 $183,838.63 $1,417.10 $0.00 $1,039.45 $186,295.18
251 $186,295.18 $1,417.10 $0.00 $1,053.34 $188,765.62
252 $188,765.62 $1,417.10 $0.00 $1,067.31 $191,250.03
253 $191,250.03 $0.00 $192,326.14 $1,081.36 $5.25