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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$178,503
Monthly savings required$1,413

How much will it cost to send your child to Carleton College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $714,013.73 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,413.01 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$68,835.00
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 $1,413.01 $0.00 $0.00 $1,413.01
2 $1,413.01 $1,413.01 $0.00 $7.99 $2,834.01
3 $2,834.01 $1,413.01 $0.00 $16.02 $4,263.04
4 $4,263.04 $1,413.01 $0.00 $24.10 $5,700.15
5 $5,700.15 $1,413.01 $0.00 $32.23 $7,145.39
6 $7,145.39 $1,413.01 $0.00 $40.40 $8,598.80
7 $8,598.80 $1,413.01 $0.00 $48.62 $10,060.43
8 $10,060.43 $1,413.01 $0.00 $56.88 $11,530.32
9 $11,530.32 $1,413.01 $0.00 $65.19 $13,008.52
10 $13,008.52 $1,413.01 $0.00 $73.55 $14,495.08
11 $14,495.08 $1,413.01 $0.00 $81.96 $15,990.05
12 $15,990.05 $1,413.01 $0.00 $90.41 $17,493.47
13 $17,493.47 $1,413.01 $0.00 $98.91 $19,005.39
14 $19,005.39 $1,413.01 $0.00 $107.46 $20,525.86
15 $20,525.86 $1,413.01 $0.00 $116.06 $22,054.93
16 $22,054.93 $1,413.01 $0.00 $124.70 $23,592.64
17 $23,592.64 $1,413.01 $0.00 $133.40 $25,139.05
18 $25,139.05 $1,413.01 $0.00 $142.14 $26,694.20
19 $26,694.20 $1,413.01 $0.00 $150.93 $28,258.14
20 $28,258.14 $1,413.01 $0.00 $159.78 $29,830.93
21 $29,830.93 $1,413.01 $0.00 $168.67 $31,412.61
22 $31,412.61 $1,413.01 $0.00 $177.61 $33,003.23
23 $33,003.23 $1,413.01 $0.00 $186.61 $34,602.85
24 $34,602.85 $1,413.01 $0.00 $195.65 $36,211.51
25 $36,211.51 $1,413.01 $0.00 $204.75 $37,829.27
26 $37,829.27 $1,413.01 $0.00 $213.89 $39,456.17
27 $39,456.17 $1,413.01 $0.00 $223.09 $41,092.27
28 $41,092.27 $1,413.01 $0.00 $232.34 $42,737.62
29 $42,737.62 $1,413.01 $0.00 $241.64 $44,392.27
30 $44,392.27 $1,413.01 $0.00 $251.00 $46,056.28
31 $46,056.28 $1,413.01 $0.00 $260.41 $47,729.70
32 $47,729.70 $1,413.01 $0.00 $269.87 $49,412.58
33 $49,412.58 $1,413.01 $0.00 $279.39 $51,104.98
34 $51,104.98 $1,413.01 $0.00 $288.95 $52,806.94
35 $52,806.94 $1,413.01 $0.00 $298.58 $54,518.53
36 $54,518.53 $1,413.01 $0.00 $308.26 $56,239.80
37 $56,239.80 $1,413.01 $0.00 $317.99 $57,970.80
38 $57,970.80 $1,413.01 $0.00 $327.78 $59,711.59
39 $59,711.59 $1,413.01 $0.00 $337.62 $61,462.22
40 $61,462.22 $1,413.01 $0.00 $347.52 $63,222.75
41 $63,222.75 $1,413.01 $0.00 $357.47 $64,993.23
42 $64,993.23 $1,413.01 $0.00 $367.48 $66,773.72
43 $66,773.72 $1,413.01 $0.00 $377.55 $68,564.28
44 $68,564.28 $1,413.01 $0.00 $387.67 $70,364.96
45 $70,364.96 $1,413.01 $0.00 $397.85 $72,175.82
46 $72,175.82 $1,413.01 $0.00 $408.09 $73,996.92
47 $73,996.92 $1,413.01 $0.00 $418.39 $75,828.32
48 $75,828.32 $1,413.01 $0.00 $428.74 $77,670.07
49 $77,670.07 $1,413.01 $0.00 $439.16 $79,522.24
50 $79,522.24 $1,413.01 $0.00 $449.63 $81,384.88
51 $81,384.88 $1,413.01 $0.00 $460.16 $83,258.05
52 $83,258.05 $1,413.01 $0.00 $470.75 $85,141.81
53 $85,141.81 $1,413.01 $0.00 $481.40 $87,036.22
54 $87,036.22 $1,413.01 $0.00 $492.12 $88,941.35
55 $88,941.35 $1,413.01 $0.00 $502.89 $90,857.25
56 $90,857.25 $1,413.01 $0.00 $513.72 $92,783.98
57 $92,783.98 $1,413.01 $0.00 $524.61 $94,721.60
58 $94,721.60 $1,413.01 $0.00 $535.57 $96,670.18
59 $96,670.18 $1,413.01 $0.00 $546.59 $98,629.78
60 $98,629.78 $1,413.01 $0.00 $557.67 $100,600.46
61 $100,600.46 $1,413.01 $0.00 $568.81 $102,582.28
62 $102,582.28 $1,413.01 $0.00 $580.02 $104,575.31
63 $104,575.31 $1,413.01 $0.00 $591.28 $106,579.60
64 $106,579.60 $1,413.01 $0.00 $602.62 $108,595.23
65 $108,595.23 $1,413.01 $0.00 $614.01 $110,622.25
66 $110,622.25 $1,413.01 $0.00 $625.47 $112,660.73
67 $112,660.73 $1,413.01 $0.00 $637.00 $114,710.74
68 $114,710.74 $1,413.01 $0.00 $648.59 $116,772.34
69 $116,772.34 $1,413.01 $0.00 $660.25 $118,845.60
70 $118,845.60 $1,413.01 $0.00 $671.97 $120,930.58
71 $120,930.58 $1,413.01 $0.00 $683.76 $123,027.35
72 $123,027.35 $1,413.01 $0.00 $695.61 $125,135.97
73 $125,135.97 $1,413.01 $0.00 $707.54 $127,256.52
74 $127,256.52 $1,413.01 $0.00 $719.53 $129,389.06
75 $129,389.06 $1,413.01 $0.00 $731.58 $131,533.65
76 $131,533.65 $1,413.01 $0.00 $743.71 $133,690.37
77 $133,690.37 $1,413.01 $0.00 $755.90 $135,859.28
78 $135,859.28 $1,413.01 $0.00 $768.17 $138,040.46
79 $138,040.46 $1,413.01 $0.00 $780.50 $140,233.97
80 $140,233.97 $1,413.01 $0.00 $792.90 $142,439.88
81 $142,439.88 $1,413.01 $0.00 $805.38 $144,658.27
82 $144,658.27 $1,413.01 $0.00 $817.92 $146,889.20
83 $146,889.20 $1,413.01 $0.00 $830.53 $149,132.74
84 $149,132.74 $1,413.01 $0.00 $843.22 $151,388.97
85 $151,388.97 $1,413.01 $0.00 $855.98 $153,657.96
86 $153,657.96 $1,413.01 $0.00 $868.80 $155,939.77
87 $155,939.77 $1,413.01 $0.00 $881.71 $158,234.49
88 $158,234.49 $1,413.01 $0.00 $894.68 $160,542.18
89 $160,542.18 $1,413.01 $0.00 $907.73 $162,862.92
90 $162,862.92 $1,413.01 $0.00 $920.85 $165,196.78
91 $165,196.78 $1,413.01 $0.00 $934.05 $167,543.84
92 $167,543.84 $1,413.01 $0.00 $947.32 $169,904.17
93 $169,904.17 $1,413.01 $0.00 $960.66 $172,277.84
94 $172,277.84 $1,413.01 $0.00 $974.08 $174,664.93
95 $174,664.93 $1,413.01 $0.00 $987.58 $177,065.52
96 $177,065.52 $1,413.01 $0.00 $1,001.15 $179,479.68
97 $179,479.68 $1,413.01 $0.00 $1,014.80 $181,907.49
98 $181,907.49 $1,413.01 $0.00 $1,028.53 $184,349.03
99 $184,349.03 $1,413.01 $0.00 $1,042.34 $186,804.38
100 $186,804.38 $1,413.01 $0.00 $1,056.22 $189,273.61
101 $189,273.61 $1,413.01 $0.00 $1,070.18 $191,756.80
102 $191,756.80 $1,413.01 $0.00 $1,084.22 $194,254.03
103 $194,254.03 $1,413.01 $0.00 $1,098.34 $196,765.38
104 $196,765.38 $1,413.01 $0.00 $1,112.54 $199,290.93
105 $199,290.93 $1,413.01 $0.00 $1,126.82 $201,830.76
106 $201,830.76 $1,413.01 $0.00 $1,141.18 $204,384.95
107 $204,384.95 $1,413.01 $0.00 $1,155.62 $206,953.58
108 $206,953.58 $1,413.01 $0.00 $1,170.15 $209,536.74
109 $209,536.74 $1,413.01 $0.00 $1,184.75 $212,134.50
110 $212,134.50 $1,413.01 $0.00 $1,199.44 $214,746.95
111 $214,746.95 $1,413.01 $0.00 $1,214.21 $217,374.17
112 $217,374.17 $1,413.01 $0.00 $1,229.07 $220,016.25
113 $220,016.25 $1,413.01 $0.00 $1,244.00 $222,673.26
114 $222,673.26 $1,413.01 $0.00 $1,259.03 $225,345.30
115 $225,345.30 $1,413.01 $0.00 $1,274.14 $228,032.45
116 $228,032.45 $1,413.01 $0.00 $1,289.33 $230,734.79
117 $230,734.79 $1,413.01 $0.00 $1,304.61 $233,452.41
118 $233,452.41 $1,413.01 $0.00 $1,319.97 $236,185.39
119 $236,185.39 $1,413.01 $0.00 $1,335.43 $238,933.83
120 $238,933.83 $1,413.01 $0.00 $1,350.97 $241,697.81
121 $241,697.81 $1,413.01 $0.00 $1,366.59 $244,477.41
122 $244,477.41 $1,413.01 $0.00 $1,382.31 $247,272.73
123 $247,272.73 $1,413.01 $0.00 $1,398.12 $250,083.86
124 $250,083.86 $1,413.01 $0.00 $1,414.01 $252,910.88
125 $252,910.88 $1,413.01 $0.00 $1,429.99 $255,753.88
126 $255,753.88 $1,413.01 $0.00 $1,446.07 $258,612.96
127 $258,612.96 $1,413.01 $0.00 $1,462.24 $261,488.21
128 $261,488.21 $1,413.01 $0.00 $1,478.49 $264,379.71
129 $264,379.71 $1,413.01 $0.00 $1,494.84 $267,287.56
130 $267,287.56 $1,413.01 $0.00 $1,511.28 $270,211.85
131 $270,211.85 $1,413.01 $0.00 $1,527.82 $273,152.68
132 $273,152.68 $1,413.01 $0.00 $1,544.44 $276,110.13
133 $276,110.13 $1,413.01 $0.00 $1,561.17 $279,084.31
134 $279,084.31 $1,413.01 $0.00 $1,577.98 $282,075.30
135 $282,075.30 $1,413.01 $0.00 $1,594.89 $285,083.20
136 $285,083.20 $1,413.01 $0.00 $1,611.90 $288,108.11
137 $288,108.11 $1,413.01 $0.00 $1,629.01 $291,150.13
138 $291,150.13 $1,413.01 $0.00 $1,646.21 $294,209.35
139 $294,209.35 $1,413.01 $0.00 $1,663.50 $297,285.86
140 $297,285.86 $1,413.01 $0.00 $1,680.90 $300,379.77
141 $300,379.77 $1,413.01 $0.00 $1,698.39 $303,491.17
142 $303,491.17 $1,413.01 $0.00 $1,715.98 $306,620.16
143 $306,620.16 $1,413.01 $0.00 $1,733.67 $309,766.84
144 $309,766.84 $1,413.01 $0.00 $1,751.47 $312,931.32
145 $312,931.32 $1,413.01 $0.00 $1,769.36 $316,113.69
146 $316,113.69 $1,413.01 $0.00 $1,787.35 $319,314.05
147 $319,314.05 $1,413.01 $0.00 $1,805.45 $322,532.51
148 $322,532.51 $1,413.01 $0.00 $1,823.65 $325,769.17
149 $325,769.17 $1,413.01 $0.00 $1,841.95 $329,024.13
150 $329,024.13 $1,413.01 $0.00 $1,860.35 $332,297.49
151 $332,297.49 $1,413.01 $0.00 $1,878.86 $335,589.36
152 $335,589.36 $1,413.01 $0.00 $1,897.47 $338,899.84
153 $338,899.84 $1,413.01 $0.00 $1,916.19 $342,229.04
154 $342,229.04 $1,413.01 $0.00 $1,935.01 $345,577.06
155 $345,577.06 $1,413.01 $0.00 $1,953.94 $348,944.01
156 $348,944.01 $1,413.01 $0.00 $1,972.98 $352,330.00
157 $352,330.00 $1,413.01 $0.00 $1,992.13 $355,735.14
158 $355,735.14 $1,413.01 $0.00 $2,011.38 $359,159.53
159 $359,159.53 $1,413.01 $0.00 $2,030.74 $362,603.28
160 $362,603.28 $1,413.01 $0.00 $2,050.21 $366,066.50
161 $366,066.50 $1,413.01 $0.00 $2,069.79 $369,549.30
162 $369,549.30 $1,413.01 $0.00 $2,089.49 $373,051.80
163 $373,051.80 $1,413.01 $0.00 $2,109.29 $376,574.10
164 $376,574.10 $1,413.01 $0.00 $2,129.20 $380,116.31
165 $380,116.31 $1,413.01 $0.00 $2,149.23 $383,678.55
166 $383,678.55 $1,413.01 $0.00 $2,169.37 $387,260.93
167 $387,260.93 $1,413.01 $0.00 $2,189.63 $390,863.57
168 $390,863.57 $1,413.01 $0.00 $2,210.00 $394,486.58
169 $394,486.58 $1,413.01 $0.00 $2,230.48 $398,130.07
170 $398,130.07 $1,413.01 $0.00 $2,251.09 $401,794.17
171 $401,794.17 $1,413.01 $0.00 $2,271.80 $405,478.98
172 $405,478.98 $1,413.01 $0.00 $2,292.64 $409,184.63
173 $409,184.63 $1,413.01 $0.00 $2,313.59 $412,911.23
174 $412,911.23 $1,413.01 $0.00 $2,334.66 $416,658.90
175 $416,658.90 $1,413.01 $0.00 $2,355.85 $420,427.76
176 $420,427.76 $1,413.01 $0.00 $2,377.16 $424,217.93
177 $424,217.93 $1,413.01 $0.00 $2,398.59 $428,029.53
178 $428,029.53 $1,413.01 $0.00 $2,420.14 $431,862.68
179 $431,862.68 $1,413.01 $0.00 $2,441.81 $435,717.50
180 $435,717.50 $1,413.01 $0.00 $2,463.61 $439,594.12
181 $439,594.12 $1,413.01 $0.00 $2,485.53 $443,492.66
182 $443,492.66 $1,413.01 $0.00 $2,507.57 $447,413.24
183 $447,413.24 $1,413.01 $0.00 $2,529.74 $451,355.99
184 $451,355.99 $1,413.01 $0.00 $2,552.03 $455,321.03
185 $455,321.03 $1,413.01 $0.00 $2,574.45 $459,308.49
186 $459,308.49 $1,413.01 $0.00 $2,597.00 $463,318.50
187 $463,318.50 $1,413.01 $0.00 $2,619.67 $467,351.18
188 $467,351.18 $1,413.01 $0.00 $2,642.47 $471,406.66
189 $471,406.66 $1,413.01 $0.00 $2,665.40 $475,485.07
190 $475,485.07 $1,413.01 $0.00 $2,688.46 $479,586.54
191 $479,586.54 $1,413.01 $0.00 $2,711.65 $483,711.20
192 $483,711.20 $1,413.01 $0.00 $2,734.97 $487,859.18
193 $487,859.18 $1,413.01 $0.00 $2,758.43 $492,030.62
194 $492,030.62 $1,413.01 $0.00 $2,782.01 $496,225.64
195 $496,225.64 $1,413.01 $0.00 $2,805.73 $500,444.38
196 $500,444.38 $1,413.01 $0.00 $2,829.59 $504,686.98
197 $504,686.98 $1,413.01 $0.00 $2,853.57 $508,953.56
198 $508,953.56 $1,413.01 $0.00 $2,877.70 $513,244.27
199 $513,244.27 $1,413.01 $0.00 $2,901.96 $517,559.24
200 $517,559.24 $1,413.01 $0.00 $2,926.36 $521,898.61
201 $521,898.61 $1,413.01 $0.00 $2,950.89 $526,262.51
202 $526,262.51 $1,413.01 $0.00 $2,975.56 $530,651.08
203 $530,651.08 $1,413.01 $0.00 $3,000.38 $535,064.47
204 $535,064.47 $1,413.01 $0.00 $3,025.33 $539,502.81
205 $539,502.81 $1,413.01 $0.00 $3,050.43 $543,966.25
206 $543,966.25 $1,413.01 $0.00 $3,075.66 $548,454.92
207 $548,454.92 $1,413.01 $0.00 $3,101.04 $552,968.97
208 $552,968.97 $1,413.01 $0.00 $3,126.57 $557,508.55
209 $557,508.55 $1,413.01 $0.00 $3,152.23 $562,073.79
210 $562,073.79 $1,413.01 $0.00 $3,178.05 $566,664.85
211 $566,664.85 $1,413.01 $0.00 $3,204.01 $571,281.87
212 $571,281.87 $1,413.01 $0.00 $3,230.11 $575,924.99
213 $575,924.99 $1,413.01 $0.00 $3,256.36 $580,594.36
214 $580,594.36 $1,413.01 $0.00 $3,282.76 $585,290.13
215 $585,290.13 $1,413.01 $0.00 $3,309.32 $590,012.46
216 $590,012.46 $1,413.01 $0.00 $3,336.02 $594,761.49
217 $594,761.49 $1,413.01 $165,659.63 $3,362.87 $433,877.74
218 $433,877.74 $1,413.01 $0.00 $2,453.21 $437,743.96
219 $437,743.96 $1,413.01 $0.00 $2,475.07 $441,632.04
220 $441,632.04 $1,413.01 $0.00 $2,497.05 $445,542.10
221 $445,542.10 $1,413.01 $0.00 $2,519.16 $449,474.27
222 $449,474.27 $1,413.01 $0.00 $2,541.39 $453,428.67
223 $453,428.67 $1,413.01 $0.00 $2,563.75 $457,405.43
224 $457,405.43 $1,413.01 $0.00 $2,586.24 $461,404.68
225 $461,404.68 $1,413.01 $0.00 $2,608.85 $465,426.54
226 $465,426.54 $1,413.01 $0.00 $2,631.59 $469,471.14
227 $469,471.14 $1,413.01 $0.00 $2,654.46 $473,538.61
228 $473,538.61 $1,413.01 $0.00 $2,677.46 $477,629.08
229 $477,629.08 $1,413.01 $173,942.62 $2,700.58 $307,800.05
230 $307,800.05 $1,413.01 $0.00 $1,740.35 $310,953.41
231 $310,953.41 $1,413.01 $0.00 $1,758.18 $314,124.60
232 $314,124.60 $1,413.01 $0.00 $1,776.11 $317,313.72
233 $317,313.72 $1,413.01 $0.00 $1,794.14 $320,520.87
234 $320,520.87 $1,413.01 $0.00 $1,812.27 $323,746.15
235 $323,746.15 $1,413.01 $0.00 $1,830.51 $326,989.67
236 $326,989.67 $1,413.01 $0.00 $1,848.85 $330,251.53
237 $330,251.53 $1,413.01 $0.00 $1,867.29 $333,531.83
238 $333,531.83 $1,413.01 $0.00 $1,885.84 $336,830.68
239 $336,830.68 $1,413.01 $0.00 $1,904.49 $340,148.18
240 $340,148.18 $1,413.01 $0.00 $1,923.25 $343,484.44
241 $343,484.44 $1,413.01 $182,639.75 $1,942.11 $164,199.81
242 $164,199.81 $1,413.01 $0.00 $928.41 $166,541.23
243 $166,541.23 $1,413.01 $0.00 $941.65 $168,895.89
244 $168,895.89 $1,413.01 $0.00 $954.96 $171,263.86
245 $171,263.86 $1,413.01 $0.00 $968.35 $173,645.22
246 $173,645.22 $1,413.01 $0.00 $981.82 $176,040.05
247 $176,040.05 $1,413.01 $0.00 $995.36 $178,448.42
248 $178,448.42 $1,413.01 $0.00 $1,008.97 $180,870.40
249 $180,870.40 $1,413.01 $0.00 $1,022.67 $183,306.08
250 $183,306.08 $1,413.01 $0.00 $1,036.44 $185,755.53
251 $185,755.53 $1,413.01 $0.00 $1,050.29 $188,218.83
252 $188,218.83 $1,413.01 $0.00 $1,064.22 $190,696.06
253 $190,696.06 $0.00 $191,771.73 $1,078.22 $2.55