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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$121,336
Monthly savings required$960

How much will it cost to send your child to Calvin College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $485,344.70 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $960.47 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$46,790.00
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 $960.47 $0.00 $0.00 $960.47
2 $960.47 $960.47 $0.00 $5.43 $1,926.37
3 $1,926.37 $960.47 $0.00 $10.89 $2,897.73
4 $2,897.73 $960.47 $0.00 $16.38 $3,874.58
5 $3,874.58 $960.47 $0.00 $21.91 $4,856.96
6 $4,856.96 $960.47 $0.00 $27.46 $5,844.89
7 $5,844.89 $960.47 $0.00 $33.05 $6,838.41
8 $6,838.41 $960.47 $0.00 $38.67 $7,837.55
9 $7,837.55 $960.47 $0.00 $44.31 $8,842.33
10 $8,842.33 $960.47 $0.00 $50.00 $9,852.80
11 $9,852.80 $960.47 $0.00 $55.71 $10,868.98
12 $10,868.98 $960.47 $0.00 $61.45 $11,890.90
13 $11,890.90 $960.47 $0.00 $67.23 $12,918.60
14 $12,918.60 $960.47 $0.00 $73.04 $13,952.11
15 $13,952.11 $960.47 $0.00 $78.89 $14,991.47
16 $14,991.47 $960.47 $0.00 $84.76 $16,036.70
17 $16,036.70 $960.47 $0.00 $90.67 $17,087.84
18 $17,087.84 $960.47 $0.00 $96.62 $18,144.93
19 $18,144.93 $960.47 $0.00 $102.59 $19,207.99
20 $19,207.99 $960.47 $0.00 $108.60 $20,277.06
21 $20,277.06 $960.47 $0.00 $114.65 $21,352.18
22 $21,352.18 $960.47 $0.00 $120.73 $22,433.38
23 $22,433.38 $960.47 $0.00 $126.84 $23,520.69
24 $23,520.69 $960.47 $0.00 $132.99 $24,614.15
25 $24,614.15 $960.47 $0.00 $139.17 $25,713.79
26 $25,713.79 $960.47 $0.00 $145.39 $26,819.65
27 $26,819.65 $960.47 $0.00 $151.64 $27,931.76
28 $27,931.76 $960.47 $0.00 $157.93 $29,050.16
29 $29,050.16 $960.47 $0.00 $164.25 $30,174.88
30 $30,174.88 $960.47 $0.00 $170.61 $31,305.96
31 $31,305.96 $960.47 $0.00 $177.01 $32,443.44
32 $32,443.44 $960.47 $0.00 $183.44 $33,587.35
33 $33,587.35 $960.47 $0.00 $189.91 $34,737.73
34 $34,737.73 $960.47 $0.00 $196.41 $35,894.61
35 $35,894.61 $960.47 $0.00 $202.95 $37,058.03
36 $37,058.03 $960.47 $0.00 $209.53 $38,228.03
37 $38,228.03 $960.47 $0.00 $216.15 $39,404.65
38 $39,404.65 $960.47 $0.00 $222.80 $40,587.92
39 $40,587.92 $960.47 $0.00 $229.49 $41,777.88
40 $41,777.88 $960.47 $0.00 $236.22 $42,974.57
41 $42,974.57 $960.47 $0.00 $242.98 $44,178.02
42 $44,178.02 $960.47 $0.00 $249.79 $45,388.28
43 $45,388.28 $960.47 $0.00 $256.63 $46,605.38
44 $46,605.38 $960.47 $0.00 $263.51 $47,829.36
45 $47,829.36 $960.47 $0.00 $270.43 $49,060.26
46 $49,060.26 $960.47 $0.00 $277.39 $50,298.12
47 $50,298.12 $960.47 $0.00 $284.39 $51,542.98
48 $51,542.98 $960.47 $0.00 $291.43 $52,794.88
49 $52,794.88 $960.47 $0.00 $298.51 $54,053.86
50 $54,053.86 $960.47 $0.00 $305.63 $55,319.96
51 $55,319.96 $960.47 $0.00 $312.79 $56,593.22
52 $56,593.22 $960.47 $0.00 $319.99 $57,873.68
53 $57,873.68 $960.47 $0.00 $327.23 $59,161.38
54 $59,161.38 $960.47 $0.00 $334.51 $60,456.36
55 $60,456.36 $960.47 $0.00 $341.83 $61,758.66
56 $61,758.66 $960.47 $0.00 $349.19 $63,068.32
57 $63,068.32 $960.47 $0.00 $356.60 $64,385.39
58 $64,385.39 $960.47 $0.00 $364.04 $65,709.90
59 $65,709.90 $960.47 $0.00 $371.53 $67,041.90
60 $67,041.90 $960.47 $0.00 $379.06 $68,381.43
61 $68,381.43 $960.47 $0.00 $386.64 $69,728.54
62 $69,728.54 $960.47 $0.00 $394.26 $71,083.27
63 $71,083.27 $960.47 $0.00 $401.92 $72,445.66
64 $72,445.66 $960.47 $0.00 $409.62 $73,815.75
65 $73,815.75 $960.47 $0.00 $417.36 $75,193.58
66 $75,193.58 $960.47 $0.00 $425.16 $76,579.21
67 $76,579.21 $960.47 $0.00 $432.99 $77,972.67
68 $77,972.67 $960.47 $0.00 $440.87 $79,374.01
69 $79,374.01 $960.47 $0.00 $448.79 $80,783.27
70 $80,783.27 $960.47 $0.00 $456.76 $82,200.50
71 $82,200.50 $960.47 $0.00 $464.77 $83,625.74
72 $83,625.74 $960.47 $0.00 $472.83 $85,059.04
73 $85,059.04 $960.47 $0.00 $480.94 $86,500.45
74 $86,500.45 $960.47 $0.00 $489.09 $87,950.01
75 $87,950.01 $960.47 $0.00 $497.28 $89,407.76
76 $89,407.76 $960.47 $0.00 $505.52 $90,873.75
77 $90,873.75 $960.47 $0.00 $513.81 $92,348.03
78 $92,348.03 $960.47 $0.00 $522.15 $93,830.65
79 $93,830.65 $960.47 $0.00 $530.53 $95,321.65
80 $95,321.65 $960.47 $0.00 $538.96 $96,821.08
81 $96,821.08 $960.47 $0.00 $547.44 $98,328.99
82 $98,328.99 $960.47 $0.00 $555.97 $99,845.43
83 $99,845.43 $960.47 $0.00 $564.54 $101,370.44
84 $101,370.44 $960.47 $0.00 $573.16 $102,904.07
85 $102,904.07 $960.47 $0.00 $581.83 $104,446.37
86 $104,446.37 $960.47 $0.00 $590.55 $105,997.39
87 $105,997.39 $960.47 $0.00 $599.32 $107,557.18
88 $107,557.18 $960.47 $0.00 $608.14 $109,125.79
89 $109,125.79 $960.47 $0.00 $617.01 $110,703.27
90 $110,703.27 $960.47 $0.00 $625.93 $112,289.67
91 $112,289.67 $960.47 $0.00 $634.90 $113,885.04
92 $113,885.04 $960.47 $0.00 $643.92 $115,489.43
93 $115,489.43 $960.47 $0.00 $652.99 $117,102.89
94 $117,102.89 $960.47 $0.00 $662.12 $118,725.48
95 $118,725.48 $960.47 $0.00 $671.29 $120,357.24
96 $120,357.24 $960.47 $0.00 $680.52 $121,998.23
97 $121,998.23 $960.47 $0.00 $689.80 $123,648.50
98 $123,648.50 $960.47 $0.00 $699.13 $125,308.10
99 $125,308.10 $960.47 $0.00 $708.51 $126,977.08
100 $126,977.08 $960.47 $0.00 $717.95 $128,655.50
101 $128,655.50 $960.47 $0.00 $727.44 $130,343.41
102 $130,343.41 $960.47 $0.00 $736.98 $132,040.86
103 $132,040.86 $960.47 $0.00 $746.58 $133,747.91
104 $133,747.91 $960.47 $0.00 $756.23 $135,464.61
105 $135,464.61 $960.47 $0.00 $765.94 $137,191.02
106 $137,191.02 $960.47 $0.00 $775.70 $138,927.19
107 $138,927.19 $960.47 $0.00 $785.51 $140,673.17
108 $140,673.17 $960.47 $0.00 $795.39 $142,429.03
109 $142,429.03 $960.47 $0.00 $805.31 $144,194.81
110 $144,194.81 $960.47 $0.00 $815.30 $145,970.58
111 $145,970.58 $960.47 $0.00 $825.34 $147,756.39
112 $147,756.39 $960.47 $0.00 $835.44 $149,552.30
113 $149,552.30 $960.47 $0.00 $845.59 $151,358.36
114 $151,358.36 $960.47 $0.00 $855.80 $153,174.63
115 $153,174.63 $960.47 $0.00 $866.07 $155,001.17
116 $155,001.17 $960.47 $0.00 $876.40 $156,838.04
117 $156,838.04 $960.47 $0.00 $886.79 $158,685.30
118 $158,685.30 $960.47 $0.00 $897.23 $160,543.00
119 $160,543.00 $960.47 $0.00 $907.73 $162,411.20
120 $162,411.20 $960.47 $0.00 $918.30 $164,289.97
121 $164,289.97 $960.47 $0.00 $928.92 $166,179.36
122 $166,179.36 $960.47 $0.00 $939.60 $168,079.43
123 $168,079.43 $960.47 $0.00 $950.35 $169,990.25
124 $169,990.25 $960.47 $0.00 $961.15 $171,911.87
125 $171,911.87 $960.47 $0.00 $972.01 $173,844.35
126 $173,844.35 $960.47 $0.00 $982.94 $175,787.76
127 $175,787.76 $960.47 $0.00 $993.93 $177,742.16
128 $177,742.16 $960.47 $0.00 $1,004.98 $179,707.61
129 $179,707.61 $960.47 $0.00 $1,016.09 $181,684.17
130 $181,684.17 $960.47 $0.00 $1,027.27 $183,671.91
131 $183,671.91 $960.47 $0.00 $1,038.51 $185,670.89
132 $185,670.89 $960.47 $0.00 $1,049.81 $187,681.17
133 $187,681.17 $960.47 $0.00 $1,061.18 $189,702.82
134 $189,702.82 $960.47 $0.00 $1,072.61 $191,735.90
135 $191,735.90 $960.47 $0.00 $1,084.10 $193,780.47
136 $193,780.47 $960.47 $0.00 $1,095.66 $195,836.60
137 $195,836.60 $960.47 $0.00 $1,107.29 $197,904.36
138 $197,904.36 $960.47 $0.00 $1,118.98 $199,983.81
139 $199,983.81 $960.47 $0.00 $1,130.74 $202,075.02
140 $202,075.02 $960.47 $0.00 $1,142.56 $204,178.05
141 $204,178.05 $960.47 $0.00 $1,154.45 $206,292.97
142 $206,292.97 $960.47 $0.00 $1,166.41 $208,419.85
143 $208,419.85 $960.47 $0.00 $1,178.44 $210,558.76
144 $210,558.76 $960.47 $0.00 $1,190.53 $212,709.76
145 $212,709.76 $960.47 $0.00 $1,202.69 $214,872.92
146 $214,872.92 $960.47 $0.00 $1,214.92 $217,048.31
147 $217,048.31 $960.47 $0.00 $1,227.22 $219,236.00
148 $219,236.00 $960.47 $0.00 $1,239.59 $221,436.06
149 $221,436.06 $960.47 $0.00 $1,252.03 $223,648.56
150 $223,648.56 $960.47 $0.00 $1,264.54 $225,873.57
151 $225,873.57 $960.47 $0.00 $1,277.12 $228,111.16
152 $228,111.16 $960.47 $0.00 $1,289.77 $230,361.40
153 $230,361.40 $960.47 $0.00 $1,302.50 $232,624.37
154 $232,624.37 $960.47 $0.00 $1,315.29 $234,900.13
155 $234,900.13 $960.47 $0.00 $1,328.16 $237,188.76
156 $237,188.76 $960.47 $0.00 $1,341.10 $239,490.33
157 $239,490.33 $960.47 $0.00 $1,354.11 $241,804.91
158 $241,804.91 $960.47 $0.00 $1,367.20 $244,132.58
159 $244,132.58 $960.47 $0.00 $1,380.36 $246,473.41
160 $246,473.41 $960.47 $0.00 $1,393.60 $248,827.48
161 $248,827.48 $960.47 $0.00 $1,406.91 $251,194.86
162 $251,194.86 $960.47 $0.00 $1,420.29 $253,575.62
163 $253,575.62 $960.47 $0.00 $1,433.75 $255,969.84
164 $255,969.84 $960.47 $0.00 $1,447.29 $258,377.60
165 $258,377.60 $960.47 $0.00 $1,460.90 $260,798.97
166 $260,798.97 $960.47 $0.00 $1,474.60 $263,234.04
167 $263,234.04 $960.47 $0.00 $1,488.36 $265,682.87
168 $265,682.87 $960.47 $0.00 $1,502.21 $268,145.55
169 $268,145.55 $960.47 $0.00 $1,516.13 $270,622.15
170 $270,622.15 $960.47 $0.00 $1,530.14 $273,112.76
171 $273,112.76 $960.47 $0.00 $1,544.22 $275,617.45
172 $275,617.45 $960.47 $0.00 $1,558.38 $278,136.30
173 $278,136.30 $960.47 $0.00 $1,572.62 $280,669.39
174 $280,669.39 $960.47 $0.00 $1,586.95 $283,216.81
175 $283,216.81 $960.47 $0.00 $1,601.35 $285,778.63
176 $285,778.63 $960.47 $0.00 $1,615.83 $288,354.93
177 $288,354.93 $960.47 $0.00 $1,630.40 $290,945.80
178 $290,945.80 $960.47 $0.00 $1,645.05 $293,551.32
179 $293,551.32 $960.47 $0.00 $1,659.78 $296,171.57
180 $296,171.57 $960.47 $0.00 $1,674.60 $298,806.64
181 $298,806.64 $960.47 $0.00 $1,689.50 $301,456.61
182 $301,456.61 $960.47 $0.00 $1,704.48 $304,121.56
183 $304,121.56 $960.47 $0.00 $1,719.55 $306,801.58
184 $306,801.58 $960.47 $0.00 $1,734.70 $309,496.75
185 $309,496.75 $960.47 $0.00 $1,749.94 $312,207.16
186 $312,207.16 $960.47 $0.00 $1,765.26 $314,932.89
187 $314,932.89 $960.47 $0.00 $1,780.68 $317,674.04
188 $317,674.04 $960.47 $0.00 $1,796.18 $320,430.69
189 $320,430.69 $960.47 $0.00 $1,811.76 $323,202.92
190 $323,202.92 $960.47 $0.00 $1,827.44 $325,990.83
191 $325,990.83 $960.47 $0.00 $1,843.20 $328,794.50
192 $328,794.50 $960.47 $0.00 $1,859.05 $331,614.02
193 $331,614.02 $960.47 $0.00 $1,874.99 $334,449.48
194 $334,449.48 $960.47 $0.00 $1,891.03 $337,300.98
195 $337,300.98 $960.47 $0.00 $1,907.15 $340,168.60
196 $340,168.60 $960.47 $0.00 $1,923.36 $343,052.43
197 $343,052.43 $960.47 $0.00 $1,939.67 $345,952.57
198 $345,952.57 $960.47 $0.00 $1,956.07 $348,869.11
199 $348,869.11 $960.47 $0.00 $1,972.56 $351,802.14
200 $351,802.14 $960.47 $0.00 $1,989.14 $354,751.75
201 $354,751.75 $960.47 $0.00 $2,005.82 $357,718.04
202 $357,718.04 $960.47 $0.00 $2,022.59 $360,701.10
203 $360,701.10 $960.47 $0.00 $2,039.46 $363,701.03
204 $363,701.03 $960.47 $0.00 $2,056.42 $366,717.92
205 $366,717.92 $960.47 $0.00 $2,073.48 $369,751.87
206 $369,751.87 $960.47 $0.00 $2,090.63 $372,802.97
207 $372,802.97 $960.47 $0.00 $2,107.88 $375,871.32
208 $375,871.32 $960.47 $0.00 $2,125.23 $378,957.02
209 $378,957.02 $960.47 $0.00 $2,142.68 $382,060.17
210 $382,060.17 $960.47 $0.00 $2,160.22 $385,180.86
211 $385,180.86 $960.47 $0.00 $2,177.87 $388,319.20
212 $388,319.20 $960.47 $0.00 $2,195.61 $391,475.28
213 $391,475.28 $960.47 $0.00 $2,213.46 $394,649.21
214 $394,649.21 $960.47 $0.00 $2,231.40 $397,841.08
215 $397,841.08 $960.47 $0.00 $2,249.45 $401,051.00
216 $401,051.00 $960.47 $0.00 $2,267.60 $404,279.07
217 $404,279.07 $960.47 $112,605.71 $2,285.85 $294,919.68
218 $294,919.68 $960.47 $0.00 $1,667.52 $297,547.67
219 $297,547.67 $960.47 $0.00 $1,682.38 $300,190.52
220 $300,190.52 $960.47 $0.00 $1,697.32 $302,848.31
221 $302,848.31 $960.47 $0.00 $1,712.35 $305,521.13
222 $305,521.13 $960.47 $0.00 $1,727.46 $308,209.06
223 $308,209.06 $960.47 $0.00 $1,742.66 $310,912.19
224 $310,912.19 $960.47 $0.00 $1,757.94 $313,630.60
225 $313,630.60 $960.47 $0.00 $1,773.31 $316,364.38
226 $316,364.38 $960.47 $0.00 $1,788.77 $319,113.62
227 $319,113.62 $960.47 $0.00 $1,804.31 $321,878.40
228 $321,878.40 $960.47 $0.00 $1,819.95 $324,658.82
229 $324,658.82 $960.47 $118,236.00 $1,835.67 $209,218.96
230 $209,218.96 $960.47 $0.00 $1,182.95 $211,362.38
231 $211,362.38 $960.47 $0.00 $1,195.07 $213,517.92
232 $213,517.92 $960.47 $0.00 $1,207.26 $215,685.65
233 $215,685.65 $960.47 $0.00 $1,219.52 $217,865.64
234 $217,865.64 $960.47 $0.00 $1,231.84 $220,057.95
235 $220,057.95 $960.47 $0.00 $1,244.24 $222,262.66
236 $222,262.66 $960.47 $0.00 $1,256.71 $224,479.84
237 $224,479.84 $960.47 $0.00 $1,269.24 $226,709.55
238 $226,709.55 $960.47 $0.00 $1,281.85 $228,951.87
239 $228,951.87 $960.47 $0.00 $1,294.53 $231,206.87
240 $231,206.87 $960.47 $0.00 $1,307.28 $233,474.62
241 $233,474.62 $960.47 $124,147.80 $1,320.10 $111,607.39
242 $111,607.39 $960.47 $0.00 $631.04 $113,198.90
243 $113,198.90 $960.47 $0.00 $640.04 $114,799.41
244 $114,799.41 $960.47 $0.00 $649.09 $116,408.97
245 $116,408.97 $960.47 $0.00 $658.19 $118,027.63
246 $118,027.63 $960.47 $0.00 $667.35 $119,655.45
247 $119,655.45 $960.47 $0.00 $676.55 $121,292.47
248 $121,292.47 $960.47 $0.00 $685.81 $122,938.75
249 $122,938.75 $960.47 $0.00 $695.11 $124,594.33
250 $124,594.33 $960.47 $0.00 $704.47 $126,259.27
251 $126,259.27 $960.47 $0.00 $713.89 $127,933.63
252 $127,933.63 $960.47 $0.00 $723.36 $129,617.46
253 $129,617.46 $0.00 $130,355.19 $732.88 ($4.85)