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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$151,262
Monthly savings required$1,197

How much will it cost to send your child to St Olaf College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $605,047.16 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,197.36 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$58,330.00
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 $1,197.36 $0.00 $0.00 $1,197.36
2 $1,197.36 $1,197.36 $0.00 $6.77 $2,401.49
3 $2,401.49 $1,197.36 $0.00 $13.58 $3,612.43
4 $3,612.43 $1,197.36 $0.00 $20.43 $4,830.22
5 $4,830.22 $1,197.36 $0.00 $27.31 $6,054.89
6 $6,054.89 $1,197.36 $0.00 $34.24 $7,286.49
7 $7,286.49 $1,197.36 $0.00 $41.20 $8,525.05
8 $8,525.05 $1,197.36 $0.00 $48.20 $9,770.61
9 $9,770.61 $1,197.36 $0.00 $55.24 $11,023.21
10 $11,023.21 $1,197.36 $0.00 $62.33 $12,282.90
11 $12,282.90 $1,197.36 $0.00 $69.45 $13,549.71
12 $13,549.71 $1,197.36 $0.00 $76.61 $14,823.68
13 $14,823.68 $1,197.36 $0.00 $83.82 $16,104.86
14 $16,104.86 $1,197.36 $0.00 $91.06 $17,393.28
15 $17,393.28 $1,197.36 $0.00 $98.34 $18,688.98
16 $18,688.98 $1,197.36 $0.00 $105.67 $19,992.01
17 $19,992.01 $1,197.36 $0.00 $113.04 $21,302.41
18 $21,302.41 $1,197.36 $0.00 $120.45 $22,620.22
19 $22,620.22 $1,197.36 $0.00 $127.90 $23,945.48
20 $23,945.48 $1,197.36 $0.00 $135.39 $25,278.23
21 $25,278.23 $1,197.36 $0.00 $142.93 $26,618.52
22 $26,618.52 $1,197.36 $0.00 $150.50 $27,966.38
23 $27,966.38 $1,197.36 $0.00 $158.13 $29,321.87
24 $29,321.87 $1,197.36 $0.00 $165.79 $30,685.02
25 $30,685.02 $1,197.36 $0.00 $173.50 $32,055.88
26 $32,055.88 $1,197.36 $0.00 $181.25 $33,434.49
27 $33,434.49 $1,197.36 $0.00 $189.04 $34,820.89
28 $34,820.89 $1,197.36 $0.00 $196.88 $36,215.13
29 $36,215.13 $1,197.36 $0.00 $204.77 $37,617.26
30 $37,617.26 $1,197.36 $0.00 $212.69 $39,027.31
31 $39,027.31 $1,197.36 $0.00 $220.67 $40,445.34
32 $40,445.34 $1,197.36 $0.00 $228.68 $41,871.38
33 $41,871.38 $1,197.36 $0.00 $236.75 $43,305.49
34 $43,305.49 $1,197.36 $0.00 $244.86 $44,747.71
35 $44,747.71 $1,197.36 $0.00 $253.01 $46,198.08
36 $46,198.08 $1,197.36 $0.00 $261.21 $47,656.65
37 $47,656.65 $1,197.36 $0.00 $269.46 $49,123.47
38 $49,123.47 $1,197.36 $0.00 $277.75 $50,598.58
39 $50,598.58 $1,197.36 $0.00 $286.09 $52,082.03
40 $52,082.03 $1,197.36 $0.00 $294.48 $53,573.87
41 $53,573.87 $1,197.36 $0.00 $302.91 $55,074.14
42 $55,074.14 $1,197.36 $0.00 $311.40 $56,582.90
43 $56,582.90 $1,197.36 $0.00 $319.93 $58,100.19
44 $58,100.19 $1,197.36 $0.00 $328.51 $59,626.06
45 $59,626.06 $1,197.36 $0.00 $337.13 $61,160.55
46 $61,160.55 $1,197.36 $0.00 $345.81 $62,703.72
47 $62,703.72 $1,197.36 $0.00 $354.54 $64,255.62
48 $64,255.62 $1,197.36 $0.00 $363.31 $65,816.29
49 $65,816.29 $1,197.36 $0.00 $372.13 $67,385.78
50 $67,385.78 $1,197.36 $0.00 $381.01 $68,964.15
51 $68,964.15 $1,197.36 $0.00 $389.93 $70,551.44
52 $70,551.44 $1,197.36 $0.00 $398.91 $72,147.71
53 $72,147.71 $1,197.36 $0.00 $407.93 $73,753.00
54 $73,753.00 $1,197.36 $0.00 $417.01 $75,367.37
55 $75,367.37 $1,197.36 $0.00 $426.14 $76,990.87
56 $76,990.87 $1,197.36 $0.00 $435.32 $78,623.55
57 $78,623.55 $1,197.36 $0.00 $444.55 $80,265.46
58 $80,265.46 $1,197.36 $0.00 $453.83 $81,916.65
59 $81,916.65 $1,197.36 $0.00 $463.17 $83,577.18
60 $83,577.18 $1,197.36 $0.00 $472.56 $85,247.10
61 $85,247.10 $1,197.36 $0.00 $482.00 $86,926.46
62 $86,926.46 $1,197.36 $0.00 $491.49 $88,615.31
63 $88,615.31 $1,197.36 $0.00 $501.04 $90,313.71
64 $90,313.71 $1,197.36 $0.00 $510.65 $92,021.72
65 $92,021.72 $1,197.36 $0.00 $520.30 $93,739.38
66 $93,739.38 $1,197.36 $0.00 $530.02 $95,466.76
67 $95,466.76 $1,197.36 $0.00 $539.78 $97,203.90
68 $97,203.90 $1,197.36 $0.00 $549.60 $98,950.86
69 $98,950.86 $1,197.36 $0.00 $559.48 $100,707.70
70 $100,707.70 $1,197.36 $0.00 $569.42 $102,474.48
71 $102,474.48 $1,197.36 $0.00 $579.41 $104,251.25
72 $104,251.25 $1,197.36 $0.00 $589.45 $106,038.06
73 $106,038.06 $1,197.36 $0.00 $599.55 $107,834.97
74 $107,834.97 $1,197.36 $0.00 $609.71 $109,642.04
75 $109,642.04 $1,197.36 $0.00 $619.93 $111,459.33
76 $111,459.33 $1,197.36 $0.00 $630.21 $113,286.90
77 $113,286.90 $1,197.36 $0.00 $640.54 $115,124.80
78 $115,124.80 $1,197.36 $0.00 $650.93 $116,973.09
79 $116,973.09 $1,197.36 $0.00 $661.38 $118,831.83
80 $118,831.83 $1,197.36 $0.00 $671.89 $120,701.08
81 $120,701.08 $1,197.36 $0.00 $682.46 $122,580.90
82 $122,580.90 $1,197.36 $0.00 $693.09 $124,471.35
83 $124,471.35 $1,197.36 $0.00 $703.78 $126,372.49
84 $126,372.49 $1,197.36 $0.00 $714.53 $128,284.38
85 $128,284.38 $1,197.36 $0.00 $725.34 $130,207.08
86 $130,207.08 $1,197.36 $0.00 $736.21 $132,140.65
87 $132,140.65 $1,197.36 $0.00 $747.14 $134,085.15
88 $134,085.15 $1,197.36 $0.00 $758.14 $136,040.65
89 $136,040.65 $1,197.36 $0.00 $769.19 $138,007.20
90 $138,007.20 $1,197.36 $0.00 $780.31 $139,984.87
91 $139,984.87 $1,197.36 $0.00 $791.49 $141,973.72
92 $141,973.72 $1,197.36 $0.00 $802.74 $143,973.82
93 $143,973.82 $1,197.36 $0.00 $814.05 $145,985.23
94 $145,985.23 $1,197.36 $0.00 $825.42 $148,008.01
95 $148,008.01 $1,197.36 $0.00 $836.86 $150,042.23
96 $150,042.23 $1,197.36 $0.00 $848.36 $152,087.95
97 $152,087.95 $1,197.36 $0.00 $859.93 $154,145.24
98 $154,145.24 $1,197.36 $0.00 $871.56 $156,214.16
99 $156,214.16 $1,197.36 $0.00 $883.26 $158,294.78
100 $158,294.78 $1,197.36 $0.00 $895.02 $160,387.16
101 $160,387.16 $1,197.36 $0.00 $906.85 $162,491.37
102 $162,491.37 $1,197.36 $0.00 $918.75 $164,607.48
103 $164,607.48 $1,197.36 $0.00 $930.71 $166,735.55
104 $166,735.55 $1,197.36 $0.00 $942.75 $168,875.66
105 $168,875.66 $1,197.36 $0.00 $954.85 $171,027.87
106 $171,027.87 $1,197.36 $0.00 $967.02 $173,192.25
107 $173,192.25 $1,197.36 $0.00 $979.25 $175,368.86
108 $175,368.86 $1,197.36 $0.00 $991.56 $177,557.78
109 $177,557.78 $1,197.36 $0.00 $1,003.94 $179,759.08
110 $179,759.08 $1,197.36 $0.00 $1,016.38 $181,972.82
111 $181,972.82 $1,197.36 $0.00 $1,028.90 $184,199.08
112 $184,199.08 $1,197.36 $0.00 $1,041.49 $186,437.93
113 $186,437.93 $1,197.36 $0.00 $1,054.15 $188,689.44
114 $188,689.44 $1,197.36 $0.00 $1,066.88 $190,953.68
115 $190,953.68 $1,197.36 $0.00 $1,079.68 $193,230.72
116 $193,230.72 $1,197.36 $0.00 $1,092.55 $195,520.63
117 $195,520.63 $1,197.36 $0.00 $1,105.50 $197,823.49
118 $197,823.49 $1,197.36 $0.00 $1,118.52 $200,139.37
119 $200,139.37 $1,197.36 $0.00 $1,131.62 $202,468.35
120 $202,468.35 $1,197.36 $0.00 $1,144.79 $204,810.50
121 $204,810.50 $1,197.36 $0.00 $1,158.03 $207,165.89
122 $207,165.89 $1,197.36 $0.00 $1,171.35 $209,534.60
123 $209,534.60 $1,197.36 $0.00 $1,184.74 $211,916.70
124 $211,916.70 $1,197.36 $0.00 $1,198.21 $214,312.27
125 $214,312.27 $1,197.36 $0.00 $1,211.75 $216,721.38
126 $216,721.38 $1,197.36 $0.00 $1,225.37 $219,144.11
127 $219,144.11 $1,197.36 $0.00 $1,239.07 $221,580.54
128 $221,580.54 $1,197.36 $0.00 $1,252.85 $224,030.75
129 $224,030.75 $1,197.36 $0.00 $1,266.70 $226,494.81
130 $226,494.81 $1,197.36 $0.00 $1,280.63 $228,972.80
131 $228,972.80 $1,197.36 $0.00 $1,294.65 $231,464.81
132 $231,464.81 $1,197.36 $0.00 $1,308.74 $233,970.91
133 $233,970.91 $1,197.36 $0.00 $1,322.91 $236,491.18
134 $236,491.18 $1,197.36 $0.00 $1,337.16 $239,025.70
135 $239,025.70 $1,197.36 $0.00 $1,351.49 $241,574.55
136 $241,574.55 $1,197.36 $0.00 $1,365.90 $244,137.81
137 $244,137.81 $1,197.36 $0.00 $1,380.39 $246,715.56
138 $246,715.56 $1,197.36 $0.00 $1,394.97 $249,307.89
139 $249,307.89 $1,197.36 $0.00 $1,409.62 $251,914.87
140 $251,914.87 $1,197.36 $0.00 $1,424.36 $254,536.59
141 $254,536.59 $1,197.36 $0.00 $1,439.19 $257,173.14
142 $257,173.14 $1,197.36 $0.00 $1,454.09 $259,824.59
143 $259,824.59 $1,197.36 $0.00 $1,469.09 $262,491.04
144 $262,491.04 $1,197.36 $0.00 $1,484.16 $265,172.56
145 $265,172.56 $1,197.36 $0.00 $1,499.32 $267,869.24
146 $267,869.24 $1,197.36 $0.00 $1,514.57 $270,581.17
147 $270,581.17 $1,197.36 $0.00 $1,529.91 $273,308.44
148 $273,308.44 $1,197.36 $0.00 $1,545.33 $276,051.13
149 $276,051.13 $1,197.36 $0.00 $1,560.83 $278,809.32
150 $278,809.32 $1,197.36 $0.00 $1,576.43 $281,583.11
151 $281,583.11 $1,197.36 $0.00 $1,592.11 $284,372.58
152 $284,372.58 $1,197.36 $0.00 $1,607.88 $287,177.82
153 $287,177.82 $1,197.36 $0.00 $1,623.75 $289,998.93
154 $289,998.93 $1,197.36 $0.00 $1,639.70 $292,835.99
155 $292,835.99 $1,197.36 $0.00 $1,655.74 $295,689.09
156 $295,689.09 $1,197.36 $0.00 $1,671.87 $298,558.32
157 $298,558.32 $1,197.36 $0.00 $1,688.09 $301,443.77
158 $301,443.77 $1,197.36 $0.00 $1,704.41 $304,345.54
159 $304,345.54 $1,197.36 $0.00 $1,720.81 $307,263.71
160 $307,263.71 $1,197.36 $0.00 $1,737.31 $310,198.38
161 $310,198.38 $1,197.36 $0.00 $1,753.91 $313,149.65
162 $313,149.65 $1,197.36 $0.00 $1,770.59 $316,117.60
163 $316,117.60 $1,197.36 $0.00 $1,787.37 $319,102.33
164 $319,102.33 $1,197.36 $0.00 $1,804.25 $322,103.94
165 $322,103.94 $1,197.36 $0.00 $1,821.22 $325,122.52
166 $325,122.52 $1,197.36 $0.00 $1,838.29 $328,158.17
167 $328,158.17 $1,197.36 $0.00 $1,855.45 $331,210.98
168 $331,210.98 $1,197.36 $0.00 $1,872.72 $334,281.06
169 $334,281.06 $1,197.36 $0.00 $1,890.07 $337,368.49
170 $337,368.49 $1,197.36 $0.00 $1,907.53 $340,473.38
171 $340,473.38 $1,197.36 $0.00 $1,925.09 $343,595.83
172 $343,595.83 $1,197.36 $0.00 $1,942.74 $346,735.93
173 $346,735.93 $1,197.36 $0.00 $1,960.50 $349,893.79
174 $349,893.79 $1,197.36 $0.00 $1,978.35 $353,069.50
175 $353,069.50 $1,197.36 $0.00 $1,996.31 $356,263.17
176 $356,263.17 $1,197.36 $0.00 $2,014.36 $359,474.89
177 $359,474.89 $1,197.36 $0.00 $2,032.52 $362,704.77
178 $362,704.77 $1,197.36 $0.00 $2,050.79 $365,952.92
179 $365,952.92 $1,197.36 $0.00 $2,069.15 $369,219.43
180 $369,219.43 $1,197.36 $0.00 $2,087.62 $372,504.41
181 $372,504.41 $1,197.36 $0.00 $2,106.19 $375,807.96
182 $375,807.96 $1,197.36 $0.00 $2,124.87 $379,130.19
183 $379,130.19 $1,197.36 $0.00 $2,143.66 $382,471.21
184 $382,471.21 $1,197.36 $0.00 $2,162.55 $385,831.12
185 $385,831.12 $1,197.36 $0.00 $2,181.55 $389,210.03
186 $389,210.03 $1,197.36 $0.00 $2,200.65 $392,608.04
187 $392,608.04 $1,197.36 $0.00 $2,219.86 $396,025.26
188 $396,025.26 $1,197.36 $0.00 $2,239.18 $399,461.80
189 $399,461.80 $1,197.36 $0.00 $2,258.62 $402,917.78
190 $402,917.78 $1,197.36 $0.00 $2,278.16 $406,393.30
191 $406,393.30 $1,197.36 $0.00 $2,297.81 $409,888.47
192 $409,888.47 $1,197.36 $0.00 $2,317.57 $413,403.40
193 $413,403.40 $1,197.36 $0.00 $2,337.44 $416,938.20
194 $416,938.20 $1,197.36 $0.00 $2,357.43 $420,492.99
195 $420,492.99 $1,197.36 $0.00 $2,377.53 $424,067.88
196 $424,067.88 $1,197.36 $0.00 $2,397.74 $427,662.98
197 $427,662.98 $1,197.36 $0.00 $2,418.07 $431,278.41
198 $431,278.41 $1,197.36 $0.00 $2,438.51 $434,914.28
199 $434,914.28 $1,197.36 $0.00 $2,459.07 $438,570.71
200 $438,570.71 $1,197.36 $0.00 $2,479.74 $442,247.81
201 $442,247.81 $1,197.36 $0.00 $2,500.53 $445,945.70
202 $445,945.70 $1,197.36 $0.00 $2,521.44 $449,664.50
203 $449,664.50 $1,197.36 $0.00 $2,542.47 $453,404.33
204 $453,404.33 $1,197.36 $0.00 $2,563.61 $457,165.30
205 $457,165.30 $1,197.36 $0.00 $2,584.88 $460,947.54
206 $460,947.54 $1,197.36 $0.00 $2,606.26 $464,751.16
207 $464,751.16 $1,197.36 $0.00 $2,627.77 $468,576.29
208 $468,576.29 $1,197.36 $0.00 $2,649.40 $472,423.05
209 $472,423.05 $1,197.36 $0.00 $2,671.15 $476,291.56
210 $476,291.56 $1,197.36 $0.00 $2,693.02 $480,181.94
211 $480,181.94 $1,197.36 $0.00 $2,715.02 $484,094.32
212 $484,094.32 $1,197.36 $0.00 $2,737.14 $488,028.82
213 $488,028.82 $1,197.36 $0.00 $2,759.39 $491,985.57
214 $491,985.57 $1,197.36 $0.00 $2,781.76 $495,964.69
215 $495,964.69 $1,197.36 $0.00 $2,804.26 $499,966.31
216 $499,966.31 $1,197.36 $0.00 $2,826.88 $503,990.55
217 $503,990.55 $1,197.36 $140,378.10 $2,849.64 $367,659.45
218 $367,659.45 $1,197.36 $0.00 $2,078.80 $370,935.61
219 $370,935.61 $1,197.36 $0.00 $2,097.32 $374,230.29
220 $374,230.29 $1,197.36 $0.00 $2,115.95 $377,543.60
221 $377,543.60 $1,197.36 $0.00 $2,134.69 $380,875.65
222 $380,875.65 $1,197.36 $0.00 $2,153.53 $384,226.54
223 $384,226.54 $1,197.36 $0.00 $2,172.47 $387,596.37
224 $387,596.37 $1,197.36 $0.00 $2,191.53 $390,985.26
225 $390,985.26 $1,197.36 $0.00 $2,210.69 $394,393.31
226 $394,393.31 $1,197.36 $0.00 $2,229.96 $397,820.63
227 $397,820.63 $1,197.36 $0.00 $2,249.34 $401,267.33
228 $401,267.33 $1,197.36 $0.00 $2,268.82 $404,733.51
229 $404,733.51 $1,197.36 $147,397.00 $2,288.42 $260,822.29
230 $260,822.29 $1,197.36 $0.00 $1,474.73 $263,494.38
231 $263,494.38 $1,197.36 $0.00 $1,489.84 $266,181.58
232 $266,181.58 $1,197.36 $0.00 $1,505.03 $268,883.97
233 $268,883.97 $1,197.36 $0.00 $1,520.31 $271,601.64
234 $271,601.64 $1,197.36 $0.00 $1,535.68 $274,334.68
235 $274,334.68 $1,197.36 $0.00 $1,551.13 $277,083.17
236 $277,083.17 $1,197.36 $0.00 $1,566.67 $279,847.20
237 $279,847.20 $1,197.36 $0.00 $1,582.30 $282,626.86
238 $282,626.86 $1,197.36 $0.00 $1,598.01 $285,422.23
239 $285,422.23 $1,197.36 $0.00 $1,613.82 $288,233.41
240 $288,233.41 $1,197.36 $0.00 $1,629.71 $291,060.48
241 $291,060.48 $1,197.36 $154,766.86 $1,645.70 $139,136.68
242 $139,136.68 $1,197.36 $0.00 $786.70 $141,120.74
243 $141,120.74 $1,197.36 $0.00 $797.92 $143,116.02
244 $143,116.02 $1,197.36 $0.00 $809.20 $145,122.58
245 $145,122.58 $1,197.36 $0.00 $820.54 $147,140.48
246 $147,140.48 $1,197.36 $0.00 $831.95 $149,169.79
247 $149,169.79 $1,197.36 $0.00 $843.43 $151,210.58
248 $151,210.58 $1,197.36 $0.00 $854.97 $153,262.91
249 $153,262.91 $1,197.36 $0.00 $866.57 $155,326.84
250 $155,326.84 $1,197.36 $0.00 $878.24 $157,402.44
251 $157,402.44 $1,197.36 $0.00 $889.98 $159,489.78
252 $159,489.78 $1,197.36 $0.00 $901.78 $161,588.92
253 $161,588.92 $0.00 $162,505.20 $913.65 ($2.63)