Savings Plan and Future Cost Estimation for Calvin College

How much will it cost and what do you need to save?

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$202,853
Monthly savings required$1,603

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 $811,412.63 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,603.21 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$54,070.00
Years until enrollment18
Annual Tuition Increase7%
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 $1,603.21 $0.00 $0.00 $1,603.21
2 $1,603.21 $1,603.21 $0.00 $9.06 $3,215.48
3 $3,215.48 $1,603.21 $0.00 $18.18 $4,836.87
4 $4,836.87 $1,603.21 $0.00 $27.35 $6,467.43
5 $6,467.43 $1,603.21 $0.00 $36.57 $8,107.21
6 $8,107.21 $1,603.21 $0.00 $45.84 $9,756.26
7 $9,756.26 $1,603.21 $0.00 $55.16 $11,414.63
8 $11,414.63 $1,603.21 $0.00 $64.54 $13,082.38
9 $13,082.38 $1,603.21 $0.00 $73.97 $14,759.56
10 $14,759.56 $1,603.21 $0.00 $83.45 $16,446.22
11 $16,446.22 $1,603.21 $0.00 $92.99 $18,142.42
12 $18,142.42 $1,603.21 $0.00 $102.58 $19,848.21
13 $19,848.21 $1,603.21 $0.00 $112.22 $21,563.64
14 $21,563.64 $1,603.21 $0.00 $121.92 $23,288.77
15 $23,288.77 $1,603.21 $0.00 $131.68 $25,023.66
16 $25,023.66 $1,603.21 $0.00 $141.49 $26,768.36
17 $26,768.36 $1,603.21 $0.00 $151.35 $28,522.92
18 $28,522.92 $1,603.21 $0.00 $161.27 $30,287.40
19 $30,287.40 $1,603.21 $0.00 $171.25 $32,061.86
20 $32,061.86 $1,603.21 $0.00 $181.28 $33,846.35
21 $33,846.35 $1,603.21 $0.00 $191.37 $35,640.93
22 $35,640.93 $1,603.21 $0.00 $201.52 $37,445.66
23 $37,445.66 $1,603.21 $0.00 $211.72 $39,260.59
24 $39,260.59 $1,603.21 $0.00 $221.99 $41,085.79
25 $41,085.79 $1,603.21 $0.00 $232.31 $42,921.31
26 $42,921.31 $1,603.21 $0.00 $242.68 $44,767.20
27 $44,767.20 $1,603.21 $0.00 $253.12 $46,623.53
28 $46,623.53 $1,603.21 $0.00 $263.62 $48,490.36
29 $48,490.36 $1,603.21 $0.00 $274.17 $50,367.74
30 $50,367.74 $1,603.21 $0.00 $284.79 $52,255.74
31 $52,255.74 $1,603.21 $0.00 $295.46 $54,154.41
32 $54,154.41 $1,603.21 $0.00 $306.20 $56,063.82
33 $56,063.82 $1,603.21 $0.00 $316.99 $57,984.02
34 $57,984.02 $1,603.21 $0.00 $327.85 $59,915.08
35 $59,915.08 $1,603.21 $0.00 $338.77 $61,857.06
36 $61,857.06 $1,603.21 $0.00 $349.75 $63,810.02
37 $63,810.02 $1,603.21 $0.00 $360.79 $65,774.02
38 $65,774.02 $1,603.21 $0.00 $371.90 $67,749.13
39 $67,749.13 $1,603.21 $0.00 $383.06 $69,735.40
40 $69,735.40 $1,603.21 $0.00 $394.29 $71,732.90
41 $71,732.90 $1,603.21 $0.00 $405.59 $73,741.70
42 $73,741.70 $1,603.21 $0.00 $416.95 $75,761.86
43 $75,761.86 $1,603.21 $0.00 $428.37 $77,793.44
44 $77,793.44 $1,603.21 $0.00 $439.86 $79,836.51
45 $79,836.51 $1,603.21 $0.00 $451.41 $81,891.13
46 $81,891.13 $1,603.21 $0.00 $463.02 $83,957.36
47 $83,957.36 $1,603.21 $0.00 $474.71 $86,035.28
48 $86,035.28 $1,603.21 $0.00 $486.46 $88,124.95
49 $88,124.95 $1,603.21 $0.00 $498.27 $90,226.43
50 $90,226.43 $1,603.21 $0.00 $510.15 $92,339.79
51 $92,339.79 $1,603.21 $0.00 $522.10 $94,465.10
52 $94,465.10 $1,603.21 $0.00 $534.12 $96,602.43
53 $96,602.43 $1,603.21 $0.00 $546.20 $98,751.84
54 $98,751.84 $1,603.21 $0.00 $558.36 $100,913.41
55 $100,913.41 $1,603.21 $0.00 $570.58 $103,087.20
56 $103,087.20 $1,603.21 $0.00 $582.87 $105,273.28
57 $105,273.28 $1,603.21 $0.00 $595.23 $107,471.72
58 $107,471.72 $1,603.21 $0.00 $607.66 $109,682.59
59 $109,682.59 $1,603.21 $0.00 $620.16 $111,905.96
60 $111,905.96 $1,603.21 $0.00 $632.73 $114,141.90
61 $114,141.90 $1,603.21 $0.00 $645.37 $116,390.48
62 $116,390.48 $1,603.21 $0.00 $658.09 $118,651.78
63 $118,651.78 $1,603.21 $0.00 $670.87 $120,925.86
64 $120,925.86 $1,603.21 $0.00 $683.73 $123,212.80
65 $123,212.80 $1,603.21 $0.00 $696.66 $125,512.67
66 $125,512.67 $1,603.21 $0.00 $709.67 $127,825.55
67 $127,825.55 $1,603.21 $0.00 $722.74 $130,151.50
68 $130,151.50 $1,603.21 $0.00 $735.90 $132,490.61
69 $132,490.61 $1,603.21 $0.00 $749.12 $134,842.94
70 $134,842.94 $1,603.21 $0.00 $762.42 $137,208.57
71 $137,208.57 $1,603.21 $0.00 $775.80 $139,587.58
72 $139,587.58 $1,603.21 $0.00 $789.25 $141,980.04
73 $141,980.04 $1,603.21 $0.00 $802.78 $144,386.03
74 $144,386.03 $1,603.21 $0.00 $816.38 $146,805.62
75 $146,805.62 $1,603.21 $0.00 $830.06 $149,238.89
76 $149,238.89 $1,603.21 $0.00 $843.82 $151,685.92
77 $151,685.92 $1,603.21 $0.00 $857.65 $154,146.78
78 $154,146.78 $1,603.21 $0.00 $871.57 $156,621.56
79 $156,621.56 $1,603.21 $0.00 $885.56 $159,110.33
80 $159,110.33 $1,603.21 $0.00 $899.63 $161,613.17
81 $161,613.17 $1,603.21 $0.00 $913.78 $164,130.16
82 $164,130.16 $1,603.21 $0.00 $928.02 $166,661.39
83 $166,661.39 $1,603.21 $0.00 $942.33 $169,206.93
84 $169,206.93 $1,603.21 $0.00 $956.72 $171,766.86
85 $171,766.86 $1,603.21 $0.00 $971.19 $174,341.26
86 $174,341.26 $1,603.21 $0.00 $985.75 $176,930.22
87 $176,930.22 $1,603.21 $0.00 $1,000.39 $179,533.82
88 $179,533.82 $1,603.21 $0.00 $1,015.11 $182,152.14
89 $182,152.14 $1,603.21 $0.00 $1,029.91 $184,785.26
90 $184,785.26 $1,603.21 $0.00 $1,044.80 $187,433.27
91 $187,433.27 $1,603.21 $0.00 $1,059.77 $190,096.25
92 $190,096.25 $1,603.21 $0.00 $1,074.83 $192,774.29
93 $192,774.29 $1,603.21 $0.00 $1,089.97 $195,467.47
94 $195,467.47 $1,603.21 $0.00 $1,105.20 $198,175.88
95 $198,175.88 $1,603.21 $0.00 $1,120.52 $200,899.61
96 $200,899.61 $1,603.21 $0.00 $1,135.92 $203,638.74
97 $203,638.74 $1,603.21 $0.00 $1,151.40 $206,393.35
98 $206,393.35 $1,603.21 $0.00 $1,166.98 $209,163.54
99 $209,163.54 $1,603.21 $0.00 $1,182.64 $211,949.39
100 $211,949.39 $1,603.21 $0.00 $1,198.39 $214,750.99
101 $214,750.99 $1,603.21 $0.00 $1,214.23 $217,568.43
102 $217,568.43 $1,603.21 $0.00 $1,230.16 $220,401.80
103 $220,401.80 $1,603.21 $0.00 $1,246.18 $223,251.19
104 $223,251.19 $1,603.21 $0.00 $1,262.29 $226,116.69
105 $226,116.69 $1,603.21 $0.00 $1,278.50 $228,998.40
106 $228,998.40 $1,603.21 $0.00 $1,294.79 $231,896.40
107 $231,896.40 $1,603.21 $0.00 $1,311.18 $234,810.79
108 $234,810.79 $1,603.21 $0.00 $1,327.65 $237,741.65
109 $237,741.65 $1,603.21 $0.00 $1,344.23 $240,689.09
110 $240,689.09 $1,603.21 $0.00 $1,360.89 $243,653.19
111 $243,653.19 $1,603.21 $0.00 $1,377.65 $246,634.05
112 $246,634.05 $1,603.21 $0.00 $1,394.50 $249,631.76
113 $249,631.76 $1,603.21 $0.00 $1,411.45 $252,646.42
114 $252,646.42 $1,603.21 $0.00 $1,428.50 $255,678.13
115 $255,678.13 $1,603.21 $0.00 $1,445.64 $258,726.98
116 $258,726.98 $1,603.21 $0.00 $1,462.88 $261,793.07
117 $261,793.07 $1,603.21 $0.00 $1,480.22 $264,876.50
118 $264,876.50 $1,603.21 $0.00 $1,497.65 $267,977.36
119 $267,977.36 $1,603.21 $0.00 $1,515.18 $271,095.75
120 $271,095.75 $1,603.21 $0.00 $1,532.81 $274,231.77
121 $274,231.77 $1,603.21 $0.00 $1,550.55 $277,385.53
122 $277,385.53 $1,603.21 $0.00 $1,568.38 $280,557.12
123 $280,557.12 $1,603.21 $0.00 $1,586.31 $283,746.64
124 $283,746.64 $1,603.21 $0.00 $1,604.34 $286,954.19
125 $286,954.19 $1,603.21 $0.00 $1,622.48 $290,179.88
126 $290,179.88 $1,603.21 $0.00 $1,640.72 $293,423.81
127 $293,423.81 $1,603.21 $0.00 $1,659.06 $296,686.08
128 $296,686.08 $1,603.21 $0.00 $1,677.51 $299,966.80
129 $299,966.80 $1,603.21 $0.00 $1,696.06 $303,266.07
130 $303,266.07 $1,603.21 $0.00 $1,714.71 $306,583.99
131 $306,583.99 $1,603.21 $0.00 $1,733.47 $309,920.67
132 $309,920.67 $1,603.21 $0.00 $1,752.34 $313,276.22
133 $313,276.22 $1,603.21 $0.00 $1,771.31 $316,650.74
134 $316,650.74 $1,603.21 $0.00 $1,790.39 $320,044.34
135 $320,044.34 $1,603.21 $0.00 $1,809.58 $323,457.13
136 $323,457.13 $1,603.21 $0.00 $1,828.87 $326,889.21
137 $326,889.21 $1,603.21 $0.00 $1,848.28 $330,340.70
138 $330,340.70 $1,603.21 $0.00 $1,867.79 $333,811.70
139 $333,811.70 $1,603.21 $0.00 $1,887.42 $337,302.33
140 $337,302.33 $1,603.21 $0.00 $1,907.16 $340,812.70
141 $340,812.70 $1,603.21 $0.00 $1,927.00 $344,342.91
142 $344,342.91 $1,603.21 $0.00 $1,946.96 $347,893.08
143 $347,893.08 $1,603.21 $0.00 $1,967.04 $351,463.33
144 $351,463.33 $1,603.21 $0.00 $1,987.22 $355,053.76
145 $355,053.76 $1,603.21 $0.00 $2,007.53 $358,664.50
146 $358,664.50 $1,603.21 $0.00 $2,027.94 $362,295.65
147 $362,295.65 $1,603.21 $0.00 $2,048.47 $365,947.33
148 $365,947.33 $1,603.21 $0.00 $2,069.12 $369,619.66
149 $369,619.66 $1,603.21 $0.00 $2,089.88 $373,312.75
150 $373,312.75 $1,603.21 $0.00 $2,110.76 $377,026.72
151 $377,026.72 $1,603.21 $0.00 $2,131.76 $380,761.69
152 $380,761.69 $1,603.21 $0.00 $2,152.88 $384,517.78
153 $384,517.78 $1,603.21 $0.00 $2,174.12 $388,295.11
154 $388,295.11 $1,603.21 $0.00 $2,195.48 $392,093.80
155 $392,093.80 $1,603.21 $0.00 $2,216.96 $395,913.97
156 $395,913.97 $1,603.21 $0.00 $2,238.56 $399,755.74
157 $399,755.74 $1,603.21 $0.00 $2,260.28 $403,619.23
158 $403,619.23 $1,603.21 $0.00 $2,282.12 $407,504.56
159 $407,504.56 $1,603.21 $0.00 $2,304.09 $411,411.86
160 $411,411.86 $1,603.21 $0.00 $2,326.18 $415,341.25
161 $415,341.25 $1,603.21 $0.00 $2,348.40 $419,292.86
162 $419,292.86 $1,603.21 $0.00 $2,370.74 $423,266.81
163 $423,266.81 $1,603.21 $0.00 $2,393.21 $427,263.23
164 $427,263.23 $1,603.21 $0.00 $2,415.81 $431,282.25
165 $431,282.25 $1,603.21 $0.00 $2,438.53 $435,323.99
166 $435,323.99 $1,603.21 $0.00 $2,461.39 $439,388.59
167 $439,388.59 $1,603.21 $0.00 $2,484.37 $443,476.17
168 $443,476.17 $1,603.21 $0.00 $2,507.48 $447,586.86
169 $447,586.86 $1,603.21 $0.00 $2,530.72 $451,720.79
170 $451,720.79 $1,603.21 $0.00 $2,554.10 $455,878.10
171 $455,878.10 $1,603.21 $0.00 $2,577.60 $460,058.91
172 $460,058.91 $1,603.21 $0.00 $2,601.24 $464,263.36
173 $464,263.36 $1,603.21 $0.00 $2,625.01 $468,491.58
174 $468,491.58 $1,603.21 $0.00 $2,648.92 $472,743.71
175 $472,743.71 $1,603.21 $0.00 $2,672.96 $477,019.88
176 $477,019.88 $1,603.21 $0.00 $2,697.14 $481,320.23
177 $481,320.23 $1,603.21 $0.00 $2,721.45 $485,644.89
178 $485,644.89 $1,603.21 $0.00 $2,745.91 $489,994.01
179 $489,994.01 $1,603.21 $0.00 $2,770.50 $494,367.72
180 $494,367.72 $1,603.21 $0.00 $2,795.23 $498,766.16
181 $498,766.16 $1,603.21 $0.00 $2,820.10 $503,189.47
182 $503,189.47 $1,603.21 $0.00 $2,845.11 $507,637.79
183 $507,637.79 $1,603.21 $0.00 $2,870.26 $512,111.26
184 $512,111.26 $1,603.21 $0.00 $2,895.55 $516,610.02
185 $516,610.02 $1,603.21 $0.00 $2,920.99 $521,134.22
186 $521,134.22 $1,603.21 $0.00 $2,946.57 $525,684.00
187 $525,684.00 $1,603.21 $0.00 $2,972.29 $530,259.50
188 $530,259.50 $1,603.21 $0.00 $2,998.16 $534,860.87
189 $534,860.87 $1,603.21 $0.00 $3,024.18 $539,488.26
190 $539,488.26 $1,603.21 $0.00 $3,050.35 $544,141.82
191 $544,141.82 $1,603.21 $0.00 $3,076.66 $548,821.69
192 $548,821.69 $1,603.21 $0.00 $3,103.12 $553,528.02
193 $553,528.02 $1,603.21 $0.00 $3,129.73 $558,260.96
194 $558,260.96 $1,603.21 $0.00 $3,156.49 $563,020.66
195 $563,020.66 $1,603.21 $0.00 $3,183.40 $567,807.27
196 $567,807.27 $1,603.21 $0.00 $3,210.46 $572,620.94
197 $572,620.94 $1,603.21 $0.00 $3,237.68 $577,461.83
198 $577,461.83 $1,603.21 $0.00 $3,265.05 $582,330.09
199 $582,330.09 $1,603.21 $0.00 $3,292.58 $587,225.88
200 $587,225.88 $1,603.21 $0.00 $3,320.26 $592,149.35
201 $592,149.35 $1,603.21 $0.00 $3,348.10 $597,100.66
202 $597,100.66 $1,603.21 $0.00 $3,376.09 $602,079.96
203 $602,079.96 $1,603.21 $0.00 $3,404.25 $607,087.42
204 $607,087.42 $1,603.21 $0.00 $3,432.56 $612,123.19
205 $612,123.19 $1,603.21 $0.00 $3,461.03 $617,187.43
206 $617,187.43 $1,603.21 $0.00 $3,489.67 $622,280.31
207 $622,280.31 $1,603.21 $0.00 $3,518.46 $627,401.98
208 $627,401.98 $1,603.21 $0.00 $3,547.42 $632,552.61
209 $632,552.61 $1,603.21 $0.00 $3,576.54 $637,732.36
210 $637,732.36 $1,603.21 $0.00 $3,605.83 $642,941.40
211 $642,941.40 $1,603.21 $0.00 $3,635.28 $648,179.89
212 $648,179.89 $1,603.21 $0.00 $3,664.90 $653,448.00
213 $653,448.00 $1,603.21 $0.00 $3,694.69 $658,745.90
214 $658,745.90 $1,603.21 $0.00 $3,724.65 $664,073.76
215 $664,073.76 $1,603.21 $0.00 $3,754.77 $669,431.74
216 $669,431.74 $1,603.21 $0.00 $3,785.06 $674,820.01
217 $674,820.01 $1,603.21 $182,752.94 $3,815.53 $497,485.81
218 $497,485.81 $1,603.21 $0.00 $2,812.86 $501,901.88
219 $501,901.88 $1,603.21 $0.00 $2,837.83 $506,342.92
220 $506,342.92 $1,603.21 $0.00 $2,862.94 $510,809.07
221 $510,809.07 $1,603.21 $0.00 $2,888.19 $515,300.47
222 $515,300.47 $1,603.21 $0.00 $2,913.58 $519,817.26
223 $519,817.26 $1,603.21 $0.00 $2,939.12 $524,359.59
224 $524,359.59 $1,603.21 $0.00 $2,964.81 $528,927.61
225 $528,927.61 $1,603.21 $0.00 $2,990.63 $533,521.45
226 $533,521.45 $1,603.21 $0.00 $3,016.61 $538,141.27
227 $538,141.27 $1,603.21 $0.00 $3,042.73 $542,787.21
228 $542,787.21 $1,603.21 $0.00 $3,069.00 $547,459.42
229 $547,459.42 $1,603.21 $195,545.64 $3,095.42 $356,612.41
230 $356,612.41 $1,603.21 $0.00 $2,016.34 $360,231.96
231 $360,231.96 $1,603.21 $0.00 $2,036.80 $363,871.97
232 $363,871.97 $1,603.21 $0.00 $2,057.39 $367,532.57
233 $367,532.57 $1,603.21 $0.00 $2,078.08 $371,213.86
234 $371,213.86 $1,603.21 $0.00 $2,098.90 $374,915.97
235 $374,915.97 $1,603.21 $0.00 $2,119.83 $378,639.01
236 $378,639.01 $1,603.21 $0.00 $2,140.88 $382,383.10
237 $382,383.10 $1,603.21 $0.00 $2,162.05 $386,148.36
238 $386,148.36 $1,603.21 $0.00 $2,183.34 $389,934.91
239 $389,934.91 $1,603.21 $0.00 $2,204.75 $393,742.87
240 $393,742.87 $1,603.21 $0.00 $2,226.28 $397,572.36
241 $397,572.36 $1,603.21 $209,233.84 $2,247.93 $192,189.66
242 $192,189.66 $1,603.21 $0.00 $1,086.67 $194,879.54
243 $194,879.54 $1,603.21 $0.00 $1,101.88 $197,584.63
244 $197,584.63 $1,603.21 $0.00 $1,117.17 $200,305.01
245 $200,305.01 $1,603.21 $0.00 $1,132.55 $203,040.77
246 $203,040.77 $1,603.21 $0.00 $1,148.02 $205,792.00
247 $205,792.00 $1,603.21 $0.00 $1,163.58 $208,558.79
248 $208,558.79 $1,603.21 $0.00 $1,179.22 $211,341.22
249 $211,341.22 $1,603.21 $0.00 $1,194.95 $214,139.38
250 $214,139.38 $1,603.21 $0.00 $1,210.78 $216,953.37
251 $216,953.37 $1,603.21 $0.00 $1,226.69 $219,783.27
252 $219,783.27 $1,603.21 $0.00 $1,242.69 $222,629.17
253 $222,629.17 $0.00 $223,880.21 $1,258.78 $7.74