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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$177,920
Monthly savings required$1,408

How much will it cost to send your child to Union College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $711,679.85 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,408.38 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$68,610.00
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 $1,408.38 $0.00 $0.00 $1,408.38
2 $1,408.38 $1,408.38 $0.00 $7.96 $2,824.72
3 $2,824.72 $1,408.38 $0.00 $15.97 $4,249.07
4 $4,249.07 $1,408.38 $0.00 $24.02 $5,681.47
5 $5,681.47 $1,408.38 $0.00 $32.12 $7,121.97
6 $7,121.97 $1,408.38 $0.00 $40.27 $8,570.62
7 $8,570.62 $1,408.38 $0.00 $48.46 $10,027.46
8 $10,027.46 $1,408.38 $0.00 $56.70 $11,492.54
9 $11,492.54 $1,408.38 $0.00 $64.98 $12,965.90
10 $12,965.90 $1,408.38 $0.00 $73.31 $14,447.59
11 $14,447.59 $1,408.38 $0.00 $81.69 $15,937.66
12 $15,937.66 $1,408.38 $0.00 $90.11 $17,436.15
13 $17,436.15 $1,408.38 $0.00 $98.59 $18,943.12
14 $18,943.12 $1,408.38 $0.00 $107.11 $20,458.61
15 $20,458.61 $1,408.38 $0.00 $115.68 $21,982.67
16 $21,982.67 $1,408.38 $0.00 $124.29 $23,515.34
17 $23,515.34 $1,408.38 $0.00 $132.96 $25,056.68
18 $25,056.68 $1,408.38 $0.00 $141.67 $26,606.73
19 $26,606.73 $1,408.38 $0.00 $150.44 $28,165.55
20 $28,165.55 $1,408.38 $0.00 $159.25 $29,733.18
21 $29,733.18 $1,408.38 $0.00 $168.12 $31,309.68
22 $31,309.68 $1,408.38 $0.00 $177.03 $32,895.09
23 $32,895.09 $1,408.38 $0.00 $185.99 $34,489.46
24 $34,489.46 $1,408.38 $0.00 $195.01 $36,092.85
25 $36,092.85 $1,408.38 $0.00 $204.07 $37,705.30
26 $37,705.30 $1,408.38 $0.00 $213.19 $39,326.87
27 $39,326.87 $1,408.38 $0.00 $222.36 $40,957.61
28 $40,957.61 $1,408.38 $0.00 $231.58 $42,597.57
29 $42,597.57 $1,408.38 $0.00 $240.85 $44,246.80
30 $44,246.80 $1,408.38 $0.00 $250.18 $45,905.36
31 $45,905.36 $1,408.38 $0.00 $259.56 $47,573.30
32 $47,573.30 $1,408.38 $0.00 $268.99 $49,250.67
33 $49,250.67 $1,408.38 $0.00 $278.47 $50,937.52
34 $50,937.52 $1,408.38 $0.00 $288.01 $52,633.91
35 $52,633.91 $1,408.38 $0.00 $297.60 $54,339.89
36 $54,339.89 $1,408.38 $0.00 $307.25 $56,055.52
37 $56,055.52 $1,408.38 $0.00 $316.95 $57,780.85
38 $57,780.85 $1,408.38 $0.00 $326.70 $59,515.93
39 $59,515.93 $1,408.38 $0.00 $336.51 $61,260.82
40 $61,260.82 $1,408.38 $0.00 $346.38 $63,015.58
41 $63,015.58 $1,408.38 $0.00 $356.30 $64,780.26
42 $64,780.26 $1,408.38 $0.00 $366.28 $66,554.92
43 $66,554.92 $1,408.38 $0.00 $376.31 $68,339.61
44 $68,339.61 $1,408.38 $0.00 $386.40 $70,134.39
45 $70,134.39 $1,408.38 $0.00 $396.55 $71,939.32
46 $71,939.32 $1,408.38 $0.00 $406.76 $73,754.46
47 $73,754.46 $1,408.38 $0.00 $417.02 $75,579.86
48 $75,579.86 $1,408.38 $0.00 $427.34 $77,415.58
49 $77,415.58 $1,408.38 $0.00 $437.72 $79,261.68
50 $79,261.68 $1,408.38 $0.00 $448.16 $81,118.22
51 $81,118.22 $1,408.38 $0.00 $458.65 $82,985.25
52 $82,985.25 $1,408.38 $0.00 $469.21 $84,862.84
53 $84,862.84 $1,408.38 $0.00 $479.83 $86,751.05
54 $86,751.05 $1,408.38 $0.00 $490.50 $88,649.93
55 $88,649.93 $1,408.38 $0.00 $501.24 $90,559.55
56 $90,559.55 $1,408.38 $0.00 $512.04 $92,479.97
57 $92,479.97 $1,408.38 $0.00 $522.90 $94,411.25
58 $94,411.25 $1,408.38 $0.00 $533.81 $96,353.44
59 $96,353.44 $1,408.38 $0.00 $544.80 $98,306.62
60 $98,306.62 $1,408.38 $0.00 $555.84 $100,270.84
61 $100,270.84 $1,408.38 $0.00 $566.95 $102,246.17
62 $102,246.17 $1,408.38 $0.00 $578.11 $104,232.66
63 $104,232.66 $1,408.38 $0.00 $589.35 $106,230.39
64 $106,230.39 $1,408.38 $0.00 $600.64 $108,239.41
65 $108,239.41 $1,408.38 $0.00 $612.00 $110,259.79
66 $110,259.79 $1,408.38 $0.00 $623.42 $112,291.59
67 $112,291.59 $1,408.38 $0.00 $634.91 $114,334.88
68 $114,334.88 $1,408.38 $0.00 $646.47 $116,389.73
69 $116,389.73 $1,408.38 $0.00 $658.08 $118,456.19
70 $118,456.19 $1,408.38 $0.00 $669.77 $120,534.34
71 $120,534.34 $1,408.38 $0.00 $681.52 $122,624.24
72 $122,624.24 $1,408.38 $0.00 $693.34 $124,725.96
73 $124,725.96 $1,408.38 $0.00 $705.22 $126,839.56
74 $126,839.56 $1,408.38 $0.00 $717.17 $128,965.11
75 $128,965.11 $1,408.38 $0.00 $729.19 $131,102.68
76 $131,102.68 $1,408.38 $0.00 $741.27 $133,252.33
77 $133,252.33 $1,408.38 $0.00 $753.43 $135,414.14
78 $135,414.14 $1,408.38 $0.00 $765.65 $137,588.17
79 $137,588.17 $1,408.38 $0.00 $777.94 $139,774.49
80 $139,774.49 $1,408.38 $0.00 $790.31 $141,973.18
81 $141,973.18 $1,408.38 $0.00 $802.74 $144,184.30
82 $144,184.30 $1,408.38 $0.00 $815.24 $146,407.92
83 $146,407.92 $1,408.38 $0.00 $827.81 $148,644.11
84 $148,644.11 $1,408.38 $0.00 $840.46 $150,892.95
85 $150,892.95 $1,408.38 $0.00 $853.17 $153,154.50
86 $153,154.50 $1,408.38 $0.00 $865.96 $155,428.84
87 $155,428.84 $1,408.38 $0.00 $878.82 $157,716.04
88 $157,716.04 $1,408.38 $0.00 $891.75 $160,016.17
89 $160,016.17 $1,408.38 $0.00 $904.75 $162,329.30
90 $162,329.30 $1,408.38 $0.00 $917.83 $164,655.51
91 $164,655.51 $1,408.38 $0.00 $930.99 $166,994.88
92 $166,994.88 $1,408.38 $0.00 $944.21 $169,347.47
93 $169,347.47 $1,408.38 $0.00 $957.52 $171,713.37
94 $171,713.37 $1,408.38 $0.00 $970.89 $174,092.64
95 $174,092.64 $1,408.38 $0.00 $984.35 $176,485.37
96 $176,485.37 $1,408.38 $0.00 $997.87 $178,891.62
97 $178,891.62 $1,408.38 $0.00 $1,011.48 $181,311.48
98 $181,311.48 $1,408.38 $0.00 $1,025.16 $183,745.02
99 $183,745.02 $1,408.38 $0.00 $1,038.92 $186,192.32
100 $186,192.32 $1,408.38 $0.00 $1,052.76 $188,653.46
101 $188,653.46 $1,408.38 $0.00 $1,066.67 $191,128.51
102 $191,128.51 $1,408.38 $0.00 $1,080.67 $193,617.56
103 $193,617.56 $1,408.38 $0.00 $1,094.74 $196,120.68
104 $196,120.68 $1,408.38 $0.00 $1,108.89 $198,637.95
105 $198,637.95 $1,408.38 $0.00 $1,123.13 $201,169.46
106 $201,169.46 $1,408.38 $0.00 $1,137.44 $203,715.28
107 $203,715.28 $1,408.38 $0.00 $1,151.84 $206,275.50
108 $206,275.50 $1,408.38 $0.00 $1,166.31 $208,850.19
109 $208,850.19 $1,408.38 $0.00 $1,180.87 $211,439.44
110 $211,439.44 $1,408.38 $0.00 $1,195.51 $214,043.33
111 $214,043.33 $1,408.38 $0.00 $1,210.23 $216,661.94
112 $216,661.94 $1,408.38 $0.00 $1,225.04 $219,295.36
113 $219,295.36 $1,408.38 $0.00 $1,239.93 $221,943.67
114 $221,943.67 $1,408.38 $0.00 $1,254.90 $224,606.95
115 $224,606.95 $1,408.38 $0.00 $1,269.96 $227,285.29
116 $227,285.29 $1,408.38 $0.00 $1,285.10 $229,978.77
117 $229,978.77 $1,408.38 $0.00 $1,300.33 $232,687.48
118 $232,687.48 $1,408.38 $0.00 $1,315.65 $235,411.51
119 $235,411.51 $1,408.38 $0.00 $1,331.05 $238,150.94
120 $238,150.94 $1,408.38 $0.00 $1,346.54 $240,905.86
121 $240,905.86 $1,408.38 $0.00 $1,362.12 $243,676.36
122 $243,676.36 $1,408.38 $0.00 $1,377.78 $246,462.52
123 $246,462.52 $1,408.38 $0.00 $1,393.53 $249,264.43
124 $249,264.43 $1,408.38 $0.00 $1,409.38 $252,082.19
125 $252,082.19 $1,408.38 $0.00 $1,425.31 $254,915.88
126 $254,915.88 $1,408.38 $0.00 $1,441.33 $257,765.59
127 $257,765.59 $1,408.38 $0.00 $1,457.44 $260,631.41
128 $260,631.41 $1,408.38 $0.00 $1,473.65 $263,513.44
129 $263,513.44 $1,408.38 $0.00 $1,489.94 $266,411.76
130 $266,411.76 $1,408.38 $0.00 $1,506.33 $269,326.47
131 $269,326.47 $1,408.38 $0.00 $1,522.81 $272,257.66
132 $272,257.66 $1,408.38 $0.00 $1,539.38 $275,205.42
133 $275,205.42 $1,408.38 $0.00 $1,556.05 $278,169.85
134 $278,169.85 $1,408.38 $0.00 $1,572.81 $281,151.04
135 $281,151.04 $1,408.38 $0.00 $1,589.67 $284,149.09
136 $284,149.09 $1,408.38 $0.00 $1,606.62 $287,164.09
137 $287,164.09 $1,408.38 $0.00 $1,623.67 $290,196.14
138 $290,196.14 $1,408.38 $0.00 $1,640.81 $293,245.33
139 $293,245.33 $1,408.38 $0.00 $1,658.05 $296,311.76
140 $296,311.76 $1,408.38 $0.00 $1,675.39 $299,395.53
141 $299,395.53 $1,408.38 $0.00 $1,692.83 $302,496.74
142 $302,496.74 $1,408.38 $0.00 $1,710.36 $305,615.48
143 $305,615.48 $1,408.38 $0.00 $1,727.99 $308,751.85
144 $308,751.85 $1,408.38 $0.00 $1,745.73 $311,905.96
145 $311,905.96 $1,408.38 $0.00 $1,763.56 $315,077.90
146 $315,077.90 $1,408.38 $0.00 $1,781.50 $318,267.78
147 $318,267.78 $1,408.38 $0.00 $1,799.53 $321,475.69
148 $321,475.69 $1,408.38 $0.00 $1,817.67 $324,701.74
149 $324,701.74 $1,408.38 $0.00 $1,835.91 $327,946.03
150 $327,946.03 $1,408.38 $0.00 $1,854.25 $331,208.66
151 $331,208.66 $1,408.38 $0.00 $1,872.70 $334,489.74
152 $334,489.74 $1,408.38 $0.00 $1,891.25 $337,789.37
153 $337,789.37 $1,408.38 $0.00 $1,909.91 $341,107.66
154 $341,107.66 $1,408.38 $0.00 $1,928.67 $344,444.71
155 $344,444.71 $1,408.38 $0.00 $1,947.54 $347,800.63
156 $347,800.63 $1,408.38 $0.00 $1,966.52 $351,175.53
157 $351,175.53 $1,408.38 $0.00 $1,985.60 $354,569.51
158 $354,569.51 $1,408.38 $0.00 $2,004.79 $357,982.68
159 $357,982.68 $1,408.38 $0.00 $2,024.09 $361,415.15
160 $361,415.15 $1,408.38 $0.00 $2,043.49 $364,867.02
161 $364,867.02 $1,408.38 $0.00 $2,063.01 $368,338.41
162 $368,338.41 $1,408.38 $0.00 $2,082.64 $371,829.43
163 $371,829.43 $1,408.38 $0.00 $2,102.38 $375,340.19
164 $375,340.19 $1,408.38 $0.00 $2,122.23 $378,870.80
165 $378,870.80 $1,408.38 $0.00 $2,142.19 $382,421.37
166 $382,421.37 $1,408.38 $0.00 $2,162.27 $385,992.02
167 $385,992.02 $1,408.38 $0.00 $2,182.45 $389,582.85
168 $389,582.85 $1,408.38 $0.00 $2,202.76 $393,193.99
169 $393,193.99 $1,408.38 $0.00 $2,223.18 $396,825.55
170 $396,825.55 $1,408.38 $0.00 $2,243.71 $400,477.64
171 $400,477.64 $1,408.38 $0.00 $2,264.36 $404,150.38
172 $404,150.38 $1,408.38 $0.00 $2,285.13 $407,843.89
173 $407,843.89 $1,408.38 $0.00 $2,306.01 $411,558.28
174 $411,558.28 $1,408.38 $0.00 $2,327.01 $415,293.67
175 $415,293.67 $1,408.38 $0.00 $2,348.13 $419,050.18
176 $419,050.18 $1,408.38 $0.00 $2,369.37 $422,827.93
177 $422,827.93 $1,408.38 $0.00 $2,390.73 $426,627.04
178 $426,627.04 $1,408.38 $0.00 $2,412.21 $430,447.63
179 $430,447.63 $1,408.38 $0.00 $2,433.81 $434,289.82
180 $434,289.82 $1,408.38 $0.00 $2,455.54 $438,153.74
181 $438,153.74 $1,408.38 $0.00 $2,477.38 $442,039.50
182 $442,039.50 $1,408.38 $0.00 $2,499.36 $445,947.24
183 $445,947.24 $1,408.38 $0.00 $2,521.45 $449,877.07
184 $449,877.07 $1,408.38 $0.00 $2,543.67 $453,829.12
185 $453,829.12 $1,408.38 $0.00 $2,566.02 $457,803.52
186 $457,803.52 $1,408.38 $0.00 $2,588.49 $461,800.39
187 $461,800.39 $1,408.38 $0.00 $2,611.09 $465,819.86
188 $465,819.86 $1,408.38 $0.00 $2,633.81 $469,862.05
189 $469,862.05 $1,408.38 $0.00 $2,656.67 $473,927.10
190 $473,927.10 $1,408.38 $0.00 $2,679.65 $478,015.13
191 $478,015.13 $1,408.38 $0.00 $2,702.77 $482,126.28
192 $482,126.28 $1,408.38 $0.00 $2,726.01 $486,260.67
193 $486,260.67 $1,408.38 $0.00 $2,749.39 $490,418.44
194 $490,418.44 $1,408.38 $0.00 $2,772.90 $494,599.72
195 $494,599.72 $1,408.38 $0.00 $2,796.54 $498,804.64
196 $498,804.64 $1,408.38 $0.00 $2,820.31 $503,033.33
197 $503,033.33 $1,408.38 $0.00 $2,844.22 $507,285.93
198 $507,285.93 $1,408.38 $0.00 $2,868.27 $511,562.58
199 $511,562.58 $1,408.38 $0.00 $2,892.45 $515,863.41
200 $515,863.41 $1,408.38 $0.00 $2,916.77 $520,188.56
201 $520,188.56 $1,408.38 $0.00 $2,941.22 $524,538.16
202 $524,538.16 $1,408.38 $0.00 $2,965.82 $528,912.36
203 $528,912.36 $1,408.38 $0.00 $2,990.55 $533,311.29
204 $533,311.29 $1,408.38 $0.00 $3,015.42 $537,735.09
205 $537,735.09 $1,408.38 $0.00 $3,040.43 $542,183.90
206 $542,183.90 $1,408.38 $0.00 $3,065.59 $546,657.87
207 $546,657.87 $1,408.38 $0.00 $3,090.88 $551,157.13
208 $551,157.13 $1,408.38 $0.00 $3,116.32 $555,681.83
209 $555,681.83 $1,408.38 $0.00 $3,141.91 $560,232.12
210 $560,232.12 $1,408.38 $0.00 $3,167.63 $564,808.13
211 $564,808.13 $1,408.38 $0.00 $3,193.51 $569,410.02
212 $569,410.02 $1,408.38 $0.00 $3,219.53 $574,037.93
213 $574,037.93 $1,408.38 $0.00 $3,245.69 $578,692.00
214 $578,692.00 $1,408.38 $0.00 $3,272.01 $583,372.39
215 $583,372.39 $1,408.38 $0.00 $3,298.47 $588,079.24
216 $588,079.24 $1,408.38 $0.00 $3,325.09 $592,812.71
217 $592,812.71 $1,408.38 $165,118.15 $3,351.85 $432,454.79
218 $432,454.79 $1,408.38 $0.00 $2,445.16 $436,308.33
219 $436,308.33 $1,408.38 $0.00 $2,466.95 $440,183.66
220 $440,183.66 $1,408.38 $0.00 $2,488.86 $444,080.90
221 $444,080.90 $1,408.38 $0.00 $2,510.90 $448,000.18
222 $448,000.18 $1,408.38 $0.00 $2,533.06 $451,941.62
223 $451,941.62 $1,408.38 $0.00 $2,555.34 $455,905.34
224 $455,905.34 $1,408.38 $0.00 $2,577.76 $459,891.48
225 $459,891.48 $1,408.38 $0.00 $2,600.29 $463,900.15
226 $463,900.15 $1,408.38 $0.00 $2,622.96 $467,931.49
227 $467,931.49 $1,408.38 $0.00 $2,645.75 $471,985.62
228 $471,985.62 $1,408.38 $0.00 $2,668.68 $476,062.68
229 $476,062.68 $1,408.38 $173,374.05 $2,691.73 $306,788.74
230 $306,788.74 $1,408.38 $0.00 $1,734.63 $309,931.75
231 $309,931.75 $1,408.38 $0.00 $1,752.40 $313,092.53
232 $313,092.53 $1,408.38 $0.00 $1,770.27 $316,271.18
233 $316,271.18 $1,408.38 $0.00 $1,788.24 $319,467.80
234 $319,467.80 $1,408.38 $0.00 $1,806.32 $322,682.50
235 $322,682.50 $1,408.38 $0.00 $1,824.49 $325,915.37
236 $325,915.37 $1,408.38 $0.00 $1,842.77 $329,166.52
237 $329,166.52 $1,408.38 $0.00 $1,861.16 $332,436.06
238 $332,436.06 $1,408.38 $0.00 $1,879.64 $335,724.08
239 $335,724.08 $1,408.38 $0.00 $1,898.23 $339,030.69
240 $339,030.69 $1,408.38 $0.00 $1,916.93 $342,356.00
241 $342,356.00 $1,408.38 $182,042.76 $1,935.73 $163,657.35
242 $163,657.35 $1,408.38 $0.00 $925.34 $165,991.07
243 $165,991.07 $1,408.38 $0.00 $938.54 $168,337.99
244 $168,337.99 $1,408.38 $0.00 $951.81 $170,698.18
245 $170,698.18 $1,408.38 $0.00 $965.15 $173,071.71
246 $173,071.71 $1,408.38 $0.00 $978.57 $175,458.66
247 $175,458.66 $1,408.38 $0.00 $992.07 $177,859.11
248 $177,859.11 $1,408.38 $0.00 $1,005.64 $180,273.13
249 $180,273.13 $1,408.38 $0.00 $1,019.29 $182,700.80
250 $182,700.80 $1,408.38 $0.00 $1,033.02 $185,142.20
251 $185,142.20 $1,408.38 $0.00 $1,046.82 $187,597.40
252 $187,597.40 $1,408.38 $0.00 $1,060.70 $190,066.48
253 $190,066.48 $0.00 $191,144.89 $1,074.66 ($3.75)