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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2035$176,027
Monthly savings required$1,393

How much will it cost to send your child to Franklin and Marshall College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $704,107.68 for students enrolling in 2035 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,393.40 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$67,880.00
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 $1,393.40 $0.00 $0.00 $1,393.40
2 $1,393.40 $1,393.40 $0.00 $7.88 $2,794.68
3 $2,794.68 $1,393.40 $0.00 $15.80 $4,203.88
4 $4,203.88 $1,393.40 $0.00 $23.77 $5,621.05
5 $5,621.05 $1,393.40 $0.00 $31.78 $7,046.23
6 $7,046.23 $1,393.40 $0.00 $39.84 $8,479.47
7 $8,479.47 $1,393.40 $0.00 $47.94 $9,920.81
8 $9,920.81 $1,393.40 $0.00 $56.09 $11,370.30
9 $11,370.30 $1,393.40 $0.00 $64.29 $12,827.99
10 $12,827.99 $1,393.40 $0.00 $72.53 $14,293.92
11 $14,293.92 $1,393.40 $0.00 $80.82 $15,768.14
12 $15,768.14 $1,393.40 $0.00 $89.16 $17,250.70
13 $17,250.70 $1,393.40 $0.00 $97.54 $18,741.64
14 $18,741.64 $1,393.40 $0.00 $105.97 $20,241.01
15 $20,241.01 $1,393.40 $0.00 $114.45 $21,748.86
16 $21,748.86 $1,393.40 $0.00 $122.97 $23,265.23
17 $23,265.23 $1,393.40 $0.00 $131.54 $24,790.17
18 $24,790.17 $1,393.40 $0.00 $140.17 $26,323.74
19 $26,323.74 $1,393.40 $0.00 $148.84 $27,865.98
20 $27,865.98 $1,393.40 $0.00 $157.56 $29,416.94
21 $29,416.94 $1,393.40 $0.00 $166.33 $30,976.67
22 $30,976.67 $1,393.40 $0.00 $175.15 $32,545.22
23 $32,545.22 $1,393.40 $0.00 $184.02 $34,122.64
24 $34,122.64 $1,393.40 $0.00 $192.93 $35,708.97
25 $35,708.97 $1,393.40 $0.00 $201.90 $37,304.27
26 $37,304.27 $1,393.40 $0.00 $210.92 $38,908.59
27 $38,908.59 $1,393.40 $0.00 $219.99 $40,521.98
28 $40,521.98 $1,393.40 $0.00 $229.12 $42,144.50
29 $42,144.50 $1,393.40 $0.00 $238.29 $43,776.19
30 $43,776.19 $1,393.40 $0.00 $247.52 $45,417.11
31 $45,417.11 $1,393.40 $0.00 $256.79 $47,067.30
32 $47,067.30 $1,393.40 $0.00 $266.13 $48,726.83
33 $48,726.83 $1,393.40 $0.00 $275.51 $50,395.74
34 $50,395.74 $1,393.40 $0.00 $284.94 $52,074.08
35 $52,074.08 $1,393.40 $0.00 $294.43 $53,761.91
36 $53,761.91 $1,393.40 $0.00 $303.98 $55,459.29
37 $55,459.29 $1,393.40 $0.00 $313.57 $57,166.26
38 $57,166.26 $1,393.40 $0.00 $323.23 $58,882.89
39 $58,882.89 $1,393.40 $0.00 $332.93 $60,609.22
40 $60,609.22 $1,393.40 $0.00 $342.69 $62,345.31
41 $62,345.31 $1,393.40 $0.00 $352.51 $64,091.22
42 $64,091.22 $1,393.40 $0.00 $362.38 $65,847.00
43 $65,847.00 $1,393.40 $0.00 $372.31 $67,612.71
44 $67,612.71 $1,393.40 $0.00 $382.29 $69,388.40
45 $69,388.40 $1,393.40 $0.00 $392.33 $71,174.13
46 $71,174.13 $1,393.40 $0.00 $402.43 $72,969.96
47 $72,969.96 $1,393.40 $0.00 $412.58 $74,775.94
48 $74,775.94 $1,393.40 $0.00 $422.79 $76,592.13
49 $76,592.13 $1,393.40 $0.00 $433.06 $78,418.59
50 $78,418.59 $1,393.40 $0.00 $443.39 $80,255.38
51 $80,255.38 $1,393.40 $0.00 $453.78 $82,102.56
52 $82,102.56 $1,393.40 $0.00 $464.22 $83,960.18
53 $83,960.18 $1,393.40 $0.00 $474.72 $85,828.30
54 $85,828.30 $1,393.40 $0.00 $485.29 $87,706.99
55 $87,706.99 $1,393.40 $0.00 $495.91 $89,596.30
56 $89,596.30 $1,393.40 $0.00 $506.59 $91,496.29
57 $91,496.29 $1,393.40 $0.00 $517.33 $93,407.02
58 $93,407.02 $1,393.40 $0.00 $528.14 $95,328.56
59 $95,328.56 $1,393.40 $0.00 $539.00 $97,260.96
60 $97,260.96 $1,393.40 $0.00 $549.93 $99,204.29
61 $99,204.29 $1,393.40 $0.00 $560.92 $101,158.61
62 $101,158.61 $1,393.40 $0.00 $571.97 $103,123.98
63 $103,123.98 $1,393.40 $0.00 $583.08 $105,100.46
64 $105,100.46 $1,393.40 $0.00 $594.25 $107,088.11
65 $107,088.11 $1,393.40 $0.00 $605.49 $109,087.00
66 $109,087.00 $1,393.40 $0.00 $616.79 $111,097.19
67 $111,097.19 $1,393.40 $0.00 $628.16 $113,118.75
68 $113,118.75 $1,393.40 $0.00 $639.59 $115,151.74
69 $115,151.74 $1,393.40 $0.00 $651.08 $117,196.22
70 $117,196.22 $1,393.40 $0.00 $662.64 $119,252.26
71 $119,252.26 $1,393.40 $0.00 $674.27 $121,319.93
72 $121,319.93 $1,393.40 $0.00 $685.96 $123,399.29
73 $123,399.29 $1,393.40 $0.00 $697.72 $125,490.41
74 $125,490.41 $1,393.40 $0.00 $709.54 $127,593.35
75 $127,593.35 $1,393.40 $0.00 $721.43 $129,708.18
76 $129,708.18 $1,393.40 $0.00 $733.39 $131,834.97
77 $131,834.97 $1,393.40 $0.00 $745.41 $133,973.78
78 $133,973.78 $1,393.40 $0.00 $757.51 $136,124.69
79 $136,124.69 $1,393.40 $0.00 $769.67 $138,287.76
80 $138,287.76 $1,393.40 $0.00 $781.90 $140,463.06
81 $140,463.06 $1,393.40 $0.00 $794.20 $142,650.66
82 $142,650.66 $1,393.40 $0.00 $806.57 $144,850.63
83 $144,850.63 $1,393.40 $0.00 $819.01 $147,063.04
84 $147,063.04 $1,393.40 $0.00 $831.52 $149,287.96
85 $149,287.96 $1,393.40 $0.00 $844.10 $151,525.46
86 $151,525.46 $1,393.40 $0.00 $856.75 $153,775.61
87 $153,775.61 $1,393.40 $0.00 $869.47 $156,038.48
88 $156,038.48 $1,393.40 $0.00 $882.26 $158,314.14
89 $158,314.14 $1,393.40 $0.00 $895.13 $160,602.67
90 $160,602.67 $1,393.40 $0.00 $908.07 $162,904.14
91 $162,904.14 $1,393.40 $0.00 $921.08 $165,218.62
92 $165,218.62 $1,393.40 $0.00 $934.17 $167,546.19
93 $167,546.19 $1,393.40 $0.00 $947.33 $169,886.92
94 $169,886.92 $1,393.40 $0.00 $960.57 $172,240.89
95 $172,240.89 $1,393.40 $0.00 $973.88 $174,608.17
96 $174,608.17 $1,393.40 $0.00 $987.26 $176,988.83
97 $176,988.83 $1,393.40 $0.00 $1,000.72 $179,382.95
98 $179,382.95 $1,393.40 $0.00 $1,014.26 $181,790.61
99 $181,790.61 $1,393.40 $0.00 $1,027.87 $184,211.88
100 $184,211.88 $1,393.40 $0.00 $1,041.56 $186,646.84
101 $186,646.84 $1,393.40 $0.00 $1,055.33 $189,095.57
102 $189,095.57 $1,393.40 $0.00 $1,069.17 $191,558.14
103 $191,558.14 $1,393.40 $0.00 $1,083.10 $194,034.64
104 $194,034.64 $1,393.40 $0.00 $1,097.10 $196,525.14
105 $196,525.14 $1,393.40 $0.00 $1,111.18 $199,029.72
106 $199,029.72 $1,393.40 $0.00 $1,125.34 $201,548.46
107 $201,548.46 $1,393.40 $0.00 $1,139.58 $204,081.44
108 $204,081.44 $1,393.40 $0.00 $1,153.91 $206,628.75
109 $206,628.75 $1,393.40 $0.00 $1,168.31 $209,190.46
110 $209,190.46 $1,393.40 $0.00 $1,182.79 $211,766.65
111 $211,766.65 $1,393.40 $0.00 $1,197.36 $214,357.41
112 $214,357.41 $1,393.40 $0.00 $1,212.01 $216,962.82
113 $216,962.82 $1,393.40 $0.00 $1,226.74 $219,582.96
114 $219,582.96 $1,393.40 $0.00 $1,241.55 $222,217.91
115 $222,217.91 $1,393.40 $0.00 $1,256.45 $224,867.76
116 $224,867.76 $1,393.40 $0.00 $1,271.44 $227,532.60
117 $227,532.60 $1,393.40 $0.00 $1,286.50 $230,212.50
118 $230,212.50 $1,393.40 $0.00 $1,301.65 $232,907.55
119 $232,907.55 $1,393.40 $0.00 $1,316.89 $235,617.84
120 $235,617.84 $1,393.40 $0.00 $1,332.22 $238,343.46
121 $238,343.46 $1,393.40 $0.00 $1,347.63 $241,084.49
122 $241,084.49 $1,393.40 $0.00 $1,363.13 $243,841.02
123 $243,841.02 $1,393.40 $0.00 $1,378.71 $246,613.13
124 $246,613.13 $1,393.40 $0.00 $1,394.39 $249,400.92
125 $249,400.92 $1,393.40 $0.00 $1,410.15 $252,204.47
126 $252,204.47 $1,393.40 $0.00 $1,426.00 $255,023.87
127 $255,023.87 $1,393.40 $0.00 $1,441.94 $257,859.21
128 $257,859.21 $1,393.40 $0.00 $1,457.97 $260,710.58
129 $260,710.58 $1,393.40 $0.00 $1,474.10 $263,578.08
130 $263,578.08 $1,393.40 $0.00 $1,490.31 $266,461.79
131 $266,461.79 $1,393.40 $0.00 $1,506.61 $269,361.80
132 $269,361.80 $1,393.40 $0.00 $1,523.01 $272,278.21
133 $272,278.21 $1,393.40 $0.00 $1,539.50 $275,211.11
134 $275,211.11 $1,393.40 $0.00 $1,556.08 $278,160.59
135 $278,160.59 $1,393.40 $0.00 $1,572.76 $281,126.75
136 $281,126.75 $1,393.40 $0.00 $1,589.53 $284,109.68
137 $284,109.68 $1,393.40 $0.00 $1,606.40 $287,109.48
138 $287,109.48 $1,393.40 $0.00 $1,623.36 $290,126.24
139 $290,126.24 $1,393.40 $0.00 $1,640.42 $293,160.06
140 $293,160.06 $1,393.40 $0.00 $1,657.57 $296,211.03
141 $296,211.03 $1,393.40 $0.00 $1,674.82 $299,279.25
142 $299,279.25 $1,393.40 $0.00 $1,692.17 $302,364.82
143 $302,364.82 $1,393.40 $0.00 $1,709.61 $305,467.83
144 $305,467.83 $1,393.40 $0.00 $1,727.16 $308,588.39
145 $308,588.39 $1,393.40 $0.00 $1,744.80 $311,726.59
146 $311,726.59 $1,393.40 $0.00 $1,762.55 $314,882.54
147 $314,882.54 $1,393.40 $0.00 $1,780.39 $318,056.33
148 $318,056.33 $1,393.40 $0.00 $1,798.34 $321,248.07
149 $321,248.07 $1,393.40 $0.00 $1,816.38 $324,457.85
150 $324,457.85 $1,393.40 $0.00 $1,834.53 $327,685.78
151 $327,685.78 $1,393.40 $0.00 $1,852.78 $330,931.96
152 $330,931.96 $1,393.40 $0.00 $1,871.14 $334,196.50
153 $334,196.50 $1,393.40 $0.00 $1,889.60 $337,479.50
154 $337,479.50 $1,393.40 $0.00 $1,908.16 $340,781.06
155 $340,781.06 $1,393.40 $0.00 $1,926.83 $344,101.29
156 $344,101.29 $1,393.40 $0.00 $1,945.60 $347,440.29
157 $347,440.29 $1,393.40 $0.00 $1,964.48 $350,798.17
158 $350,798.17 $1,393.40 $0.00 $1,983.46 $354,175.03
159 $354,175.03 $1,393.40 $0.00 $2,002.56 $357,570.99
160 $357,570.99 $1,393.40 $0.00 $2,021.76 $360,986.15
161 $360,986.15 $1,393.40 $0.00 $2,041.07 $364,420.62
162 $364,420.62 $1,393.40 $0.00 $2,060.49 $367,874.51
163 $367,874.51 $1,393.40 $0.00 $2,080.02 $371,347.93
164 $371,347.93 $1,393.40 $0.00 $2,099.66 $374,840.99
165 $374,840.99 $1,393.40 $0.00 $2,119.41 $378,353.80
166 $378,353.80 $1,393.40 $0.00 $2,139.27 $381,886.47
167 $381,886.47 $1,393.40 $0.00 $2,159.24 $385,439.11
168 $385,439.11 $1,393.40 $0.00 $2,179.33 $389,011.84
169 $389,011.84 $1,393.40 $0.00 $2,199.53 $392,604.77
170 $392,604.77 $1,393.40 $0.00 $2,219.84 $396,218.01
171 $396,218.01 $1,393.40 $0.00 $2,240.27 $399,851.68
172 $399,851.68 $1,393.40 $0.00 $2,260.82 $403,505.90
173 $403,505.90 $1,393.40 $0.00 $2,281.48 $407,180.78
174 $407,180.78 $1,393.40 $0.00 $2,302.26 $410,876.44
175 $410,876.44 $1,393.40 $0.00 $2,323.16 $414,593.00
176 $414,593.00 $1,393.40 $0.00 $2,344.17 $418,330.57
177 $418,330.57 $1,393.40 $0.00 $2,365.30 $422,089.27
178 $422,089.27 $1,393.40 $0.00 $2,386.55 $425,869.22
179 $425,869.22 $1,393.40 $0.00 $2,407.93 $429,670.55
180 $429,670.55 $1,393.40 $0.00 $2,429.42 $433,493.37
181 $433,493.37 $1,393.40 $0.00 $2,451.03 $437,337.80
182 $437,337.80 $1,393.40 $0.00 $2,472.77 $441,203.97
183 $441,203.97 $1,393.40 $0.00 $2,494.63 $445,092.00
184 $445,092.00 $1,393.40 $0.00 $2,516.61 $449,002.01
185 $449,002.01 $1,393.40 $0.00 $2,538.72 $452,934.13
186 $452,934.13 $1,393.40 $0.00 $2,560.96 $456,888.49
187 $456,888.49 $1,393.40 $0.00 $2,583.31 $460,865.20
188 $460,865.20 $1,393.40 $0.00 $2,605.80 $464,864.40
189 $464,864.40 $1,393.40 $0.00 $2,628.41 $468,886.21
190 $468,886.21 $1,393.40 $0.00 $2,651.15 $472,930.76
191 $472,930.76 $1,393.40 $0.00 $2,674.02 $476,998.18
192 $476,998.18 $1,393.40 $0.00 $2,697.02 $481,088.60
193 $481,088.60 $1,393.40 $0.00 $2,720.14 $485,202.14
194 $485,202.14 $1,393.40 $0.00 $2,743.40 $489,338.94
195 $489,338.94 $1,393.40 $0.00 $2,766.79 $493,499.13
196 $493,499.13 $1,393.40 $0.00 $2,790.32 $497,682.85
197 $497,682.85 $1,393.40 $0.00 $2,813.97 $501,890.22
198 $501,890.22 $1,393.40 $0.00 $2,837.76 $506,121.38
199 $506,121.38 $1,393.40 $0.00 $2,861.68 $510,376.46
200 $510,376.46 $1,393.40 $0.00 $2,885.74 $514,655.60
201 $514,655.60 $1,393.40 $0.00 $2,909.94 $518,958.94
202 $518,958.94 $1,393.40 $0.00 $2,934.27 $523,286.61
203 $523,286.61 $1,393.40 $0.00 $2,958.74 $527,638.75
204 $527,638.75 $1,393.40 $0.00 $2,983.35 $532,015.50
205 $532,015.50 $1,393.40 $0.00 $3,008.09 $536,416.99
206 $536,416.99 $1,393.40 $0.00 $3,032.98 $540,843.37
207 $540,843.37 $1,393.40 $0.00 $3,058.01 $545,294.78
208 $545,294.78 $1,393.40 $0.00 $3,083.18 $549,771.36
209 $549,771.36 $1,393.40 $0.00 $3,108.49 $554,273.25
210 $554,273.25 $1,393.40 $0.00 $3,133.94 $558,800.59
211 $558,800.59 $1,393.40 $0.00 $3,159.54 $563,353.53
212 $563,353.53 $1,393.40 $0.00 $3,185.28 $567,932.21
213 $567,932.21 $1,393.40 $0.00 $3,211.17 $572,536.78
214 $572,536.78 $1,393.40 $0.00 $3,237.21 $577,167.39
215 $577,167.39 $1,393.40 $0.00 $3,263.39 $581,824.18
216 $581,824.18 $1,393.40 $0.00 $3,289.72 $586,507.30
217 $586,507.30 $1,393.40 $163,361.31 $3,316.20 $427,855.59
218 $427,855.59 $1,393.40 $0.00 $2,419.16 $431,668.15
219 $431,668.15 $1,393.40 $0.00 $2,440.71 $435,502.26
220 $435,502.26 $1,393.40 $0.00 $2,462.39 $439,358.05
221 $439,358.05 $1,393.40 $0.00 $2,484.19 $443,235.64
222 $443,235.64 $1,393.40 $0.00 $2,506.12 $447,135.16
223 $447,135.16 $1,393.40 $0.00 $2,528.17 $451,056.73
224 $451,056.73 $1,393.40 $0.00 $2,550.34 $455,000.47
225 $455,000.47 $1,393.40 $0.00 $2,572.64 $458,966.51
226 $458,966.51 $1,393.40 $0.00 $2,595.06 $462,954.97
227 $462,954.97 $1,393.40 $0.00 $2,617.61 $466,965.98
228 $466,965.98 $1,393.40 $0.00 $2,640.29 $470,999.67
229 $470,999.67 $1,393.40 $171,529.38 $2,663.10 $303,526.79
230 $303,526.79 $1,393.40 $0.00 $1,716.18 $306,636.37
231 $306,636.37 $1,393.40 $0.00 $1,733.77 $309,763.54
232 $309,763.54 $1,393.40 $0.00 $1,751.45 $312,908.39
233 $312,908.39 $1,393.40 $0.00 $1,769.23 $316,071.02
234 $316,071.02 $1,393.40 $0.00 $1,787.11 $319,251.53
235 $319,251.53 $1,393.40 $0.00 $1,805.09 $322,450.02
236 $322,450.02 $1,393.40 $0.00 $1,823.18 $325,666.60
237 $325,666.60 $1,393.40 $0.00 $1,841.37 $328,901.37
238 $328,901.37 $1,393.40 $0.00 $1,859.66 $332,154.43
239 $332,154.43 $1,393.40 $0.00 $1,878.05 $335,425.88
240 $335,425.88 $1,393.40 $0.00 $1,896.55 $338,715.83
241 $338,715.83 $1,393.40 $180,105.85 $1,915.15 $161,918.53
242 $161,918.53 $1,393.40 $0.00 $915.51 $164,227.44
243 $164,227.44 $1,393.40 $0.00 $928.57 $166,549.41
244 $166,549.41 $1,393.40 $0.00 $941.69 $168,884.50
245 $168,884.50 $1,393.40 $0.00 $954.90 $171,232.80
246 $171,232.80 $1,393.40 $0.00 $968.18 $173,594.38
247 $173,594.38 $1,393.40 $0.00 $981.53 $175,969.31
248 $175,969.31 $1,393.40 $0.00 $994.96 $178,357.67
249 $178,357.67 $1,393.40 $0.00 $1,008.46 $180,759.53
250 $180,759.53 $1,393.40 $0.00 $1,022.04 $183,174.97
251 $183,174.97 $1,393.40 $0.00 $1,035.70 $185,604.07
252 $185,604.07 $1,393.40 $0.00 $1,049.43 $188,046.90
253 $188,046.90 $0.00 $189,111.14 $1,063.24 ($1.00)