Savings Plan and Future Cost Estimation for Olivet College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$177,132
Monthly savings required$1,400

How much will it cost to send your child to Olivet College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $708,526.65 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,399.92 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$47,214.00
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 $1,399.92 $0.00 $0.00 $1,399.92
2 $1,399.92 $1,399.92 $0.00 $7.92 $2,807.76
3 $2,807.76 $1,399.92 $0.00 $15.88 $4,223.56
4 $4,223.56 $1,399.92 $0.00 $23.88 $5,647.36
5 $5,647.36 $1,399.92 $0.00 $31.93 $7,079.21
6 $7,079.21 $1,399.92 $0.00 $40.03 $8,519.16
7 $8,519.16 $1,399.92 $0.00 $48.17 $9,967.25
8 $9,967.25 $1,399.92 $0.00 $56.36 $11,423.53
9 $11,423.53 $1,399.92 $0.00 $64.59 $12,888.04
10 $12,888.04 $1,399.92 $0.00 $72.87 $14,360.83
11 $14,360.83 $1,399.92 $0.00 $81.20 $15,841.95
12 $15,841.95 $1,399.92 $0.00 $89.57 $17,331.44
13 $17,331.44 $1,399.92 $0.00 $97.99 $18,829.35
14 $18,829.35 $1,399.92 $0.00 $106.46 $20,335.73
15 $20,335.73 $1,399.92 $0.00 $114.98 $21,850.63
16 $21,850.63 $1,399.92 $0.00 $123.55 $23,374.10
17 $23,374.10 $1,399.92 $0.00 $132.16 $24,906.18
18 $24,906.18 $1,399.92 $0.00 $140.82 $26,446.92
19 $26,446.92 $1,399.92 $0.00 $149.53 $27,996.37
20 $27,996.37 $1,399.92 $0.00 $158.30 $29,554.59
21 $29,554.59 $1,399.92 $0.00 $167.11 $31,121.62
22 $31,121.62 $1,399.92 $0.00 $175.97 $32,697.51
23 $32,697.51 $1,399.92 $0.00 $184.88 $34,282.31
24 $34,282.31 $1,399.92 $0.00 $193.84 $35,876.07
25 $35,876.07 $1,399.92 $0.00 $202.85 $37,478.84
26 $37,478.84 $1,399.92 $0.00 $211.91 $39,090.67
27 $39,090.67 $1,399.92 $0.00 $221.02 $40,711.61
28 $40,711.61 $1,399.92 $0.00 $230.19 $42,341.72
29 $42,341.72 $1,399.92 $0.00 $239.41 $43,981.05
30 $43,981.05 $1,399.92 $0.00 $248.68 $45,629.65
31 $45,629.65 $1,399.92 $0.00 $258.00 $47,287.57
32 $47,287.57 $1,399.92 $0.00 $267.37 $48,954.86
33 $48,954.86 $1,399.92 $0.00 $276.80 $50,631.58
34 $50,631.58 $1,399.92 $0.00 $286.28 $52,317.78
35 $52,317.78 $1,399.92 $0.00 $295.81 $54,013.51
36 $54,013.51 $1,399.92 $0.00 $305.40 $55,718.83
37 $55,718.83 $1,399.92 $0.00 $315.04 $57,433.79
38 $57,433.79 $1,399.92 $0.00 $324.74 $59,158.45
39 $59,158.45 $1,399.92 $0.00 $334.49 $60,892.86
40 $60,892.86 $1,399.92 $0.00 $344.30 $62,637.08
41 $62,637.08 $1,399.92 $0.00 $354.16 $64,391.16
42 $64,391.16 $1,399.92 $0.00 $364.08 $66,155.16
43 $66,155.16 $1,399.92 $0.00 $374.05 $67,929.13
44 $67,929.13 $1,399.92 $0.00 $384.08 $69,713.13
45 $69,713.13 $1,399.92 $0.00 $394.17 $71,507.22
46 $71,507.22 $1,399.92 $0.00 $404.31 $73,311.45
47 $73,311.45 $1,399.92 $0.00 $414.51 $75,125.88
48 $75,125.88 $1,399.92 $0.00 $424.77 $76,950.57
49 $76,950.57 $1,399.92 $0.00 $435.09 $78,785.58
50 $78,785.58 $1,399.92 $0.00 $445.47 $80,630.97
51 $80,630.97 $1,399.92 $0.00 $455.90 $82,486.79
52 $82,486.79 $1,399.92 $0.00 $466.39 $84,353.10
53 $84,353.10 $1,399.92 $0.00 $476.94 $86,229.96
54 $86,229.96 $1,399.92 $0.00 $487.56 $88,117.44
55 $88,117.44 $1,399.92 $0.00 $498.23 $90,015.59
56 $90,015.59 $1,399.92 $0.00 $508.96 $91,924.47
57 $91,924.47 $1,399.92 $0.00 $519.75 $93,844.14
58 $93,844.14 $1,399.92 $0.00 $530.61 $95,774.67
59 $95,774.67 $1,399.92 $0.00 $541.52 $97,716.11
60 $97,716.11 $1,399.92 $0.00 $552.50 $99,668.53
61 $99,668.53 $1,399.92 $0.00 $563.54 $101,631.99
62 $101,631.99 $1,399.92 $0.00 $574.64 $103,606.55
63 $103,606.55 $1,399.92 $0.00 $585.81 $105,592.28
64 $105,592.28 $1,399.92 $0.00 $597.03 $107,589.23
65 $107,589.23 $1,399.92 $0.00 $608.33 $109,597.48
66 $109,597.48 $1,399.92 $0.00 $619.68 $111,617.08
67 $111,617.08 $1,399.92 $0.00 $631.10 $113,648.10
68 $113,648.10 $1,399.92 $0.00 $642.58 $115,690.60
69 $115,690.60 $1,399.92 $0.00 $654.13 $117,744.65
70 $117,744.65 $1,399.92 $0.00 $665.75 $119,810.32
71 $119,810.32 $1,399.92 $0.00 $677.42 $121,887.66
72 $121,887.66 $1,399.92 $0.00 $689.17 $123,976.75
73 $123,976.75 $1,399.92 $0.00 $700.98 $126,077.65
74 $126,077.65 $1,399.92 $0.00 $712.86 $128,190.43
75 $128,190.43 $1,399.92 $0.00 $724.81 $130,315.16
76 $130,315.16 $1,399.92 $0.00 $736.82 $132,451.90
77 $132,451.90 $1,399.92 $0.00 $748.90 $134,600.72
78 $134,600.72 $1,399.92 $0.00 $761.05 $136,761.69
79 $136,761.69 $1,399.92 $0.00 $773.27 $138,934.88
80 $138,934.88 $1,399.92 $0.00 $785.56 $141,120.36
81 $141,120.36 $1,399.92 $0.00 $797.92 $143,318.20
82 $143,318.20 $1,399.92 $0.00 $810.34 $145,528.46
83 $145,528.46 $1,399.92 $0.00 $822.84 $147,751.22
84 $147,751.22 $1,399.92 $0.00 $835.41 $149,986.55
85 $149,986.55 $1,399.92 $0.00 $848.05 $152,234.52
86 $152,234.52 $1,399.92 $0.00 $860.76 $154,495.20
87 $154,495.20 $1,399.92 $0.00 $873.54 $156,768.66
88 $156,768.66 $1,399.92 $0.00 $886.39 $159,054.97
89 $159,054.97 $1,399.92 $0.00 $899.32 $161,354.21
90 $161,354.21 $1,399.92 $0.00 $912.32 $163,666.45
91 $163,666.45 $1,399.92 $0.00 $925.39 $165,991.76
92 $165,991.76 $1,399.92 $0.00 $938.54 $168,330.22
93 $168,330.22 $1,399.92 $0.00 $951.76 $170,681.90
94 $170,681.90 $1,399.92 $0.00 $965.06 $173,046.88
95 $173,046.88 $1,399.92 $0.00 $978.43 $175,425.23
96 $175,425.23 $1,399.92 $0.00 $991.88 $177,817.03
97 $177,817.03 $1,399.92 $0.00 $1,005.40 $180,222.35
98 $180,222.35 $1,399.92 $0.00 $1,019.00 $182,641.27
99 $182,641.27 $1,399.92 $0.00 $1,032.68 $185,073.87
100 $185,073.87 $1,399.92 $0.00 $1,046.43 $187,520.22
101 $187,520.22 $1,399.92 $0.00 $1,060.27 $189,980.41
102 $189,980.41 $1,399.92 $0.00 $1,074.18 $192,454.51
103 $192,454.51 $1,399.92 $0.00 $1,088.17 $194,942.60
104 $194,942.60 $1,399.92 $0.00 $1,102.23 $197,444.75
105 $197,444.75 $1,399.92 $0.00 $1,116.38 $199,961.05
106 $199,961.05 $1,399.92 $0.00 $1,130.61 $202,491.58
107 $202,491.58 $1,399.92 $0.00 $1,144.92 $205,036.42
108 $205,036.42 $1,399.92 $0.00 $1,159.31 $207,595.65
109 $207,595.65 $1,399.92 $0.00 $1,173.78 $210,169.35
110 $210,169.35 $1,399.92 $0.00 $1,188.33 $212,757.60
111 $212,757.60 $1,399.92 $0.00 $1,202.96 $215,360.48
112 $215,360.48 $1,399.92 $0.00 $1,217.68 $217,978.08
113 $217,978.08 $1,399.92 $0.00 $1,232.48 $220,610.48
114 $220,610.48 $1,399.92 $0.00 $1,247.36 $223,257.76
115 $223,257.76 $1,399.92 $0.00 $1,262.33 $225,920.01
116 $225,920.01 $1,399.92 $0.00 $1,277.38 $228,597.31
117 $228,597.31 $1,399.92 $0.00 $1,292.52 $231,289.75
118 $231,289.75 $1,399.92 $0.00 $1,307.75 $233,997.42
119 $233,997.42 $1,399.92 $0.00 $1,323.06 $236,720.40
120 $236,720.40 $1,399.92 $0.00 $1,338.45 $239,458.77
121 $239,458.77 $1,399.92 $0.00 $1,353.93 $242,212.62
122 $242,212.62 $1,399.92 $0.00 $1,369.51 $244,982.05
123 $244,982.05 $1,399.92 $0.00 $1,385.16 $247,767.13
124 $247,767.13 $1,399.92 $0.00 $1,400.91 $250,567.96
125 $250,567.96 $1,399.92 $0.00 $1,416.75 $253,384.63
126 $253,384.63 $1,399.92 $0.00 $1,432.67 $256,217.22
127 $256,217.22 $1,399.92 $0.00 $1,448.69 $259,065.83
128 $259,065.83 $1,399.92 $0.00 $1,464.80 $261,930.55
129 $261,930.55 $1,399.92 $0.00 $1,480.99 $264,811.46
130 $264,811.46 $1,399.92 $0.00 $1,497.28 $267,708.66
131 $267,708.66 $1,399.92 $0.00 $1,513.66 $270,622.24
132 $270,622.24 $1,399.92 $0.00 $1,530.14 $273,552.30
133 $273,552.30 $1,399.92 $0.00 $1,546.70 $276,498.92
134 $276,498.92 $1,399.92 $0.00 $1,563.37 $279,462.21
135 $279,462.21 $1,399.92 $0.00 $1,580.12 $282,442.25
136 $282,442.25 $1,399.92 $0.00 $1,596.97 $285,439.14
137 $285,439.14 $1,399.92 $0.00 $1,613.91 $288,452.97
138 $288,452.97 $1,399.92 $0.00 $1,630.96 $291,483.85
139 $291,483.85 $1,399.92 $0.00 $1,648.09 $294,531.86
140 $294,531.86 $1,399.92 $0.00 $1,665.33 $297,597.11
141 $297,597.11 $1,399.92 $0.00 $1,682.66 $300,679.69
142 $300,679.69 $1,399.92 $0.00 $1,700.09 $303,779.70
143 $303,779.70 $1,399.92 $0.00 $1,717.61 $306,897.23
144 $306,897.23 $1,399.92 $0.00 $1,735.24 $310,032.39
145 $310,032.39 $1,399.92 $0.00 $1,752.97 $313,185.28
146 $313,185.28 $1,399.92 $0.00 $1,770.80 $316,356.00
147 $316,356.00 $1,399.92 $0.00 $1,788.72 $319,544.64
148 $319,544.64 $1,399.92 $0.00 $1,806.75 $322,751.31
149 $322,751.31 $1,399.92 $0.00 $1,824.88 $325,976.11
150 $325,976.11 $1,399.92 $0.00 $1,843.12 $329,219.15
151 $329,219.15 $1,399.92 $0.00 $1,861.45 $332,480.52
152 $332,480.52 $1,399.92 $0.00 $1,879.89 $335,760.33
153 $335,760.33 $1,399.92 $0.00 $1,898.44 $339,058.69
154 $339,058.69 $1,399.92 $0.00 $1,917.09 $342,375.70
155 $342,375.70 $1,399.92 $0.00 $1,935.84 $345,711.46
156 $345,711.46 $1,399.92 $0.00 $1,954.70 $349,066.08
157 $349,066.08 $1,399.92 $0.00 $1,973.67 $352,439.67
158 $352,439.67 $1,399.92 $0.00 $1,992.75 $355,832.34
159 $355,832.34 $1,399.92 $0.00 $2,011.93 $359,244.19
160 $359,244.19 $1,399.92 $0.00 $2,031.22 $362,675.33
161 $362,675.33 $1,399.92 $0.00 $2,050.62 $366,125.87
162 $366,125.87 $1,399.92 $0.00 $2,070.13 $369,595.92
163 $369,595.92 $1,399.92 $0.00 $2,089.75 $373,085.59
164 $373,085.59 $1,399.92 $0.00 $2,109.48 $376,594.99
165 $376,594.99 $1,399.92 $0.00 $2,129.32 $380,124.23
166 $380,124.23 $1,399.92 $0.00 $2,149.28 $383,673.43
167 $383,673.43 $1,399.92 $0.00 $2,169.35 $387,242.70
168 $387,242.70 $1,399.92 $0.00 $2,189.53 $390,832.15
169 $390,832.15 $1,399.92 $0.00 $2,209.82 $394,441.89
170 $394,441.89 $1,399.92 $0.00 $2,230.23 $398,072.04
171 $398,072.04 $1,399.92 $0.00 $2,250.76 $401,722.72
172 $401,722.72 $1,399.92 $0.00 $2,271.40 $405,394.04
173 $405,394.04 $1,399.92 $0.00 $2,292.16 $409,086.12
174 $409,086.12 $1,399.92 $0.00 $2,313.03 $412,799.07
175 $412,799.07 $1,399.92 $0.00 $2,334.03 $416,533.02
176 $416,533.02 $1,399.92 $0.00 $2,355.14 $420,288.08
177 $420,288.08 $1,399.92 $0.00 $2,376.37 $424,064.37
178 $424,064.37 $1,399.92 $0.00 $2,397.72 $427,862.01
179 $427,862.01 $1,399.92 $0.00 $2,419.19 $431,681.12
180 $431,681.12 $1,399.92 $0.00 $2,440.79 $435,521.83
181 $435,521.83 $1,399.92 $0.00 $2,462.50 $439,384.25
182 $439,384.25 $1,399.92 $0.00 $2,484.34 $443,268.51
183 $443,268.51 $1,399.92 $0.00 $2,506.30 $447,174.73
184 $447,174.73 $1,399.92 $0.00 $2,528.39 $451,103.04
185 $451,103.04 $1,399.92 $0.00 $2,550.60 $455,053.56
186 $455,053.56 $1,399.92 $0.00 $2,572.94 $459,026.42
187 $459,026.42 $1,399.92 $0.00 $2,595.40 $463,021.74
188 $463,021.74 $1,399.92 $0.00 $2,617.99 $467,039.65
189 $467,039.65 $1,399.92 $0.00 $2,640.71 $471,080.28
190 $471,080.28 $1,399.92 $0.00 $2,663.56 $475,143.76
191 $475,143.76 $1,399.92 $0.00 $2,686.53 $479,230.21
192 $479,230.21 $1,399.92 $0.00 $2,709.64 $483,339.77
193 $483,339.77 $1,399.92 $0.00 $2,732.87 $487,472.56
194 $487,472.56 $1,399.92 $0.00 $2,756.24 $491,628.72
195 $491,628.72 $1,399.92 $0.00 $2,779.74 $495,808.38
196 $495,808.38 $1,399.92 $0.00 $2,803.37 $500,011.67
197 $500,011.67 $1,399.92 $0.00 $2,827.14 $504,238.73
198 $504,238.73 $1,399.92 $0.00 $2,851.04 $508,489.69
199 $508,489.69 $1,399.92 $0.00 $2,875.07 $512,764.68
200 $512,764.68 $1,399.92 $0.00 $2,899.25 $517,063.85
201 $517,063.85 $1,399.92 $0.00 $2,923.55 $521,387.32
202 $521,387.32 $1,399.92 $0.00 $2,948.00 $525,735.24
203 $525,735.24 $1,399.92 $0.00 $2,972.58 $530,107.74
204 $530,107.74 $1,399.92 $0.00 $2,997.31 $534,504.97
205 $534,504.97 $1,399.92 $0.00 $3,022.17 $538,927.06
206 $538,927.06 $1,399.92 $0.00 $3,047.17 $543,374.15
207 $543,374.15 $1,399.92 $0.00 $3,072.32 $547,846.39
208 $547,846.39 $1,399.92 $0.00 $3,097.60 $552,343.91
209 $552,343.91 $1,399.92 $0.00 $3,123.03 $556,866.86
210 $556,866.86 $1,399.92 $0.00 $3,148.61 $561,415.39
211 $561,415.39 $1,399.92 $0.00 $3,174.32 $565,989.63
212 $565,989.63 $1,399.92 $0.00 $3,200.19 $570,589.74
213 $570,589.74 $1,399.92 $0.00 $3,226.20 $575,215.86
214 $575,215.86 $1,399.92 $0.00 $3,252.35 $579,868.13
215 $579,868.13 $1,399.92 $0.00 $3,278.66 $584,546.71
216 $584,546.71 $1,399.92 $0.00 $3,305.11 $589,251.74
217 $589,251.74 $1,399.92 $159,580.12 $3,331.72 $434,403.26
218 $434,403.26 $1,399.92 $0.00 $2,456.18 $438,259.36
219 $438,259.36 $1,399.92 $0.00 $2,477.98 $442,137.26
220 $442,137.26 $1,399.92 $0.00 $2,499.91 $446,037.09
221 $446,037.09 $1,399.92 $0.00 $2,521.96 $449,958.97
222 $449,958.97 $1,399.92 $0.00 $2,544.13 $453,903.02
223 $453,903.02 $1,399.92 $0.00 $2,566.43 $457,869.37
224 $457,869.37 $1,399.92 $0.00 $2,588.86 $461,858.15
225 $461,858.15 $1,399.92 $0.00 $2,611.41 $465,869.48
226 $465,869.48 $1,399.92 $0.00 $2,634.09 $469,903.49
227 $469,903.49 $1,399.92 $0.00 $2,656.90 $473,960.31
228 $473,960.31 $1,399.92 $0.00 $2,679.84 $478,040.07
229 $478,040.07 $1,399.92 $170,750.73 $2,702.91 $311,392.17
230 $311,392.17 $1,399.92 $0.00 $1,760.66 $314,552.75
231 $314,552.75 $1,399.92 $0.00 $1,778.53 $317,731.20
232 $317,731.20 $1,399.92 $0.00 $1,796.50 $320,927.62
233 $320,927.62 $1,399.92 $0.00 $1,814.57 $324,142.11
234 $324,142.11 $1,399.92 $0.00 $1,832.75 $327,374.78
235 $327,374.78 $1,399.92 $0.00 $1,851.02 $330,625.72
236 $330,625.72 $1,399.92 $0.00 $1,869.41 $333,895.05
237 $333,895.05 $1,399.92 $0.00 $1,887.89 $337,182.86
238 $337,182.86 $1,399.92 $0.00 $1,906.48 $340,489.26
239 $340,489.26 $1,399.92 $0.00 $1,925.18 $343,814.36
240 $343,814.36 $1,399.92 $0.00 $1,943.98 $347,158.26
241 $347,158.26 $1,399.92 $182,703.28 $1,962.88 $167,817.78
242 $167,817.78 $1,399.92 $0.00 $948.87 $170,166.57
243 $170,166.57 $1,399.92 $0.00 $962.15 $172,528.64
244 $172,528.64 $1,399.92 $0.00 $975.50 $174,904.06
245 $174,904.06 $1,399.92 $0.00 $988.93 $177,292.91
246 $177,292.91 $1,399.92 $0.00 $1,002.44 $179,695.27
247 $179,695.27 $1,399.92 $0.00 $1,016.02 $182,111.21
248 $182,111.21 $1,399.92 $0.00 $1,029.68 $184,540.81
249 $184,540.81 $1,399.92 $0.00 $1,043.42 $186,984.15
250 $186,984.15 $1,399.92 $0.00 $1,057.24 $189,441.31
251 $189,441.31 $1,399.92 $0.00 $1,071.13 $191,912.36
252 $191,912.36 $1,399.92 $0.00 $1,085.10 $194,397.38
253 $194,397.38 $0.00 $195,492.51 $1,099.15 $4.02