Savings Plan and Future Cost Estimation

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$181,525
Monthly savings required$1,430

How much will it cost to send your child to college in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $726,098.08 for students enrolling in 2042 if tuition increases average 5% per year until then.   Assuming you have already saved $1,000.00, monthly deposits of $1,429.50 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$70,000.00
Years until enrollment18
Annual Tuition Increase5%
Current Savings$1,000.00
After Tax Return on Savings7%
Years of enrollment4

Current Savings Shortfall

College Savings Calculator

Update Your Savings Plan

Discover how much will you need to start saving now to afford college in the future.

Planned Savings Balance

College Savings Schedule

Month Begin Deposit Withdraw Interest End
1 $1,000.00 $1,429.50 $0.00 $0.00 $2,429.50
2 $2,429.50 $1,429.50 $0.00 $13.74 $3,872.74
3 $3,872.74 $1,429.50 $0.00 $21.90 $5,324.14
4 $5,324.14 $1,429.50 $0.00 $30.10 $6,783.74
5 $6,783.74 $1,429.50 $0.00 $38.36 $8,251.60
6 $8,251.60 $1,429.50 $0.00 $46.66 $9,727.76
7 $9,727.76 $1,429.50 $0.00 $55.00 $11,212.26
8 $11,212.26 $1,429.50 $0.00 $63.40 $12,705.16
9 $12,705.16 $1,429.50 $0.00 $71.84 $14,206.50
10 $14,206.50 $1,429.50 $0.00 $80.33 $15,716.33
11 $15,716.33 $1,429.50 $0.00 $88.86 $17,234.69
12 $17,234.69 $1,429.50 $0.00 $97.45 $18,761.64
13 $18,761.64 $1,429.50 $0.00 $106.08 $20,297.22
14 $20,297.22 $1,429.50 $0.00 $114.76 $21,841.48
15 $21,841.48 $1,429.50 $0.00 $123.49 $23,394.47
16 $23,394.47 $1,429.50 $0.00 $132.28 $24,956.25
17 $24,956.25 $1,429.50 $0.00 $141.11 $26,526.86
18 $26,526.86 $1,429.50 $0.00 $149.99 $28,106.35
19 $28,106.35 $1,429.50 $0.00 $158.92 $29,694.77
20 $29,694.77 $1,429.50 $0.00 $167.90 $31,292.17
21 $31,292.17 $1,429.50 $0.00 $176.93 $32,898.60
22 $32,898.60 $1,429.50 $0.00 $186.01 $34,514.11
23 $34,514.11 $1,429.50 $0.00 $195.15 $36,138.76
24 $36,138.76 $1,429.50 $0.00 $204.33 $37,772.59
25 $37,772.59 $1,429.50 $0.00 $213.57 $39,415.66
26 $39,415.66 $1,429.50 $0.00 $222.86 $41,068.02
27 $41,068.02 $1,429.50 $0.00 $232.20 $42,729.72
28 $42,729.72 $1,429.50 $0.00 $241.60 $44,400.82
29 $44,400.82 $1,429.50 $0.00 $251.05 $46,081.37
30 $46,081.37 $1,429.50 $0.00 $260.55 $47,771.42
31 $47,771.42 $1,429.50 $0.00 $270.11 $49,471.03
32 $49,471.03 $1,429.50 $0.00 $279.72 $51,180.25
33 $51,180.25 $1,429.50 $0.00 $289.38 $52,899.13
34 $52,899.13 $1,429.50 $0.00 $299.10 $54,627.73
35 $54,627.73 $1,429.50 $0.00 $308.87 $56,366.10
36 $56,366.10 $1,429.50 $0.00 $318.70 $58,114.30
37 $58,114.30 $1,429.50 $0.00 $328.59 $59,872.39
38 $59,872.39 $1,429.50 $0.00 $338.53 $61,640.42
39 $61,640.42 $1,429.50 $0.00 $348.52 $63,418.44
40 $63,418.44 $1,429.50 $0.00 $358.58 $65,206.52
41 $65,206.52 $1,429.50 $0.00 $368.69 $67,004.71
42 $67,004.71 $1,429.50 $0.00 $378.85 $68,813.06
43 $68,813.06 $1,429.50 $0.00 $389.08 $70,631.64
44 $70,631.64 $1,429.50 $0.00 $399.36 $72,460.50
45 $72,460.50 $1,429.50 $0.00 $409.70 $74,299.70
46 $74,299.70 $1,429.50 $0.00 $420.10 $76,149.30
47 $76,149.30 $1,429.50 $0.00 $430.56 $78,009.36
48 $78,009.36 $1,429.50 $0.00 $441.08 $79,879.94
49 $79,879.94 $1,429.50 $0.00 $451.65 $81,761.09
50 $81,761.09 $1,429.50 $0.00 $462.29 $83,652.88
51 $83,652.88 $1,429.50 $0.00 $472.99 $85,555.37
52 $85,555.37 $1,429.50 $0.00 $483.74 $87,468.61
53 $87,468.61 $1,429.50 $0.00 $494.56 $89,392.67
54 $89,392.67 $1,429.50 $0.00 $505.44 $91,327.61
55 $91,327.61 $1,429.50 $0.00 $516.38 $93,273.49
56 $93,273.49 $1,429.50 $0.00 $527.38 $95,230.37
57 $95,230.37 $1,429.50 $0.00 $538.45 $97,198.32
58 $97,198.32 $1,429.50 $0.00 $549.57 $99,177.39
59 $99,177.39 $1,429.50 $0.00 $560.76 $101,167.65
60 $101,167.65 $1,429.50 $0.00 $572.02 $103,169.17
61 $103,169.17 $1,429.50 $0.00 $583.33 $105,182.00
62 $105,182.00 $1,429.50 $0.00 $594.71 $107,206.21
63 $107,206.21 $1,429.50 $0.00 $606.16 $109,241.87
64 $109,241.87 $1,429.50 $0.00 $617.67 $111,289.04
65 $111,289.04 $1,429.50 $0.00 $629.24 $113,347.78
66 $113,347.78 $1,429.50 $0.00 $640.88 $115,418.16
67 $115,418.16 $1,429.50 $0.00 $652.59 $117,500.25
68 $117,500.25 $1,429.50 $0.00 $664.36 $119,594.11
69 $119,594.11 $1,429.50 $0.00 $676.20 $121,699.81
70 $121,699.81 $1,429.50 $0.00 $688.11 $123,817.42
71 $123,817.42 $1,429.50 $0.00 $700.08 $125,947.00
72 $125,947.00 $1,429.50 $0.00 $712.12 $128,088.62
73 $128,088.62 $1,429.50 $0.00 $724.23 $130,242.35
74 $130,242.35 $1,429.50 $0.00 $736.41 $132,408.26
75 $132,408.26 $1,429.50 $0.00 $748.66 $134,586.42
76 $134,586.42 $1,429.50 $0.00 $760.97 $136,776.89
77 $136,776.89 $1,429.50 $0.00 $773.36 $138,979.75
78 $138,979.75 $1,429.50 $0.00 $785.81 $141,195.06
79 $141,195.06 $1,429.50 $0.00 $798.34 $143,422.90
80 $143,422.90 $1,429.50 $0.00 $810.93 $145,663.33
81 $145,663.33 $1,429.50 $0.00 $823.60 $147,916.43
82 $147,916.43 $1,429.50 $0.00 $836.34 $150,182.27
83 $150,182.27 $1,429.50 $0.00 $849.15 $152,460.92
84 $152,460.92 $1,429.50 $0.00 $862.04 $154,752.46
85 $154,752.46 $1,429.50 $0.00 $874.99 $157,056.95
86 $157,056.95 $1,429.50 $0.00 $888.02 $159,374.47
87 $159,374.47 $1,429.50 $0.00 $901.13 $161,705.10
88 $161,705.10 $1,429.50 $0.00 $914.30 $164,048.90
89 $164,048.90 $1,429.50 $0.00 $927.56 $166,405.96
90 $166,405.96 $1,429.50 $0.00 $940.88 $168,776.34
91 $168,776.34 $1,429.50 $0.00 $954.29 $171,160.13
92 $171,160.13 $1,429.50 $0.00 $967.76 $173,557.39
93 $173,557.39 $1,429.50 $0.00 $981.32 $175,968.21
94 $175,968.21 $1,429.50 $0.00 $994.95 $178,392.66
95 $178,392.66 $1,429.50 $0.00 $1,008.66 $180,830.82
96 $180,830.82 $1,429.50 $0.00 $1,022.44 $183,282.76
97 $183,282.76 $1,429.50 $0.00 $1,036.31 $185,748.57
98 $185,748.57 $1,429.50 $0.00 $1,050.25 $188,228.32
99 $188,228.32 $1,429.50 $0.00 $1,064.27 $190,722.09
100 $190,722.09 $1,429.50 $0.00 $1,078.37 $193,229.96
101 $193,229.96 $1,429.50 $0.00 $1,092.55 $195,752.01
102 $195,752.01 $1,429.50 $0.00 $1,106.81 $198,288.32
103 $198,288.32 $1,429.50 $0.00 $1,121.15 $200,838.97
104 $200,838.97 $1,429.50 $0.00 $1,135.57 $203,404.04
105 $203,404.04 $1,429.50 $0.00 $1,150.08 $205,983.62
106 $205,983.62 $1,429.50 $0.00 $1,164.66 $208,577.78
107 $208,577.78 $1,429.50 $0.00 $1,179.33 $211,186.61
108 $211,186.61 $1,429.50 $0.00 $1,194.08 $213,810.19
109 $213,810.19 $1,429.50 $0.00 $1,208.91 $216,448.60
110 $216,448.60 $1,429.50 $0.00 $1,223.83 $219,101.93
111 $219,101.93 $1,429.50 $0.00 $1,238.83 $221,770.26
112 $221,770.26 $1,429.50 $0.00 $1,253.92 $224,453.68
113 $224,453.68 $1,429.50 $0.00 $1,269.09 $227,152.27
114 $227,152.27 $1,429.50 $0.00 $1,284.35 $229,866.12
115 $229,866.12 $1,429.50 $0.00 $1,299.70 $232,595.32
116 $232,595.32 $1,429.50 $0.00 $1,315.13 $235,339.95
117 $235,339.95 $1,429.50 $0.00 $1,330.65 $238,100.10
118 $238,100.10 $1,429.50 $0.00 $1,346.25 $240,875.85
119 $240,875.85 $1,429.50 $0.00 $1,361.95 $243,667.30
120 $243,667.30 $1,429.50 $0.00 $1,377.73 $246,474.53
121 $246,474.53 $1,429.50 $0.00 $1,393.60 $249,297.63
122 $249,297.63 $1,429.50 $0.00 $1,409.57 $252,136.70
123 $252,136.70 $1,429.50 $0.00 $1,425.62 $254,991.82
124 $254,991.82 $1,429.50 $0.00 $1,441.76 $257,863.08
125 $257,863.08 $1,429.50 $0.00 $1,458.00 $260,750.58
126 $260,750.58 $1,429.50 $0.00 $1,474.32 $263,654.40
127 $263,654.40 $1,429.50 $0.00 $1,490.74 $266,574.64
128 $266,574.64 $1,429.50 $0.00 $1,507.25 $269,511.39
129 $269,511.39 $1,429.50 $0.00 $1,523.86 $272,464.75
130 $272,464.75 $1,429.50 $0.00 $1,540.56 $275,434.81
131 $275,434.81 $1,429.50 $0.00 $1,557.35 $278,421.66
132 $278,421.66 $1,429.50 $0.00 $1,574.24 $281,425.40
133 $281,425.40 $1,429.50 $0.00 $1,591.22 $284,446.12
134 $284,446.12 $1,429.50 $0.00 $1,608.30 $287,483.92
135 $287,483.92 $1,429.50 $0.00 $1,625.48 $290,538.90
136 $290,538.90 $1,429.50 $0.00 $1,642.75 $293,611.15
137 $293,611.15 $1,429.50 $0.00 $1,660.12 $296,700.77
138 $296,700.77 $1,429.50 $0.00 $1,677.59 $299,807.86
139 $299,807.86 $1,429.50 $0.00 $1,695.16 $302,932.52
140 $302,932.52 $1,429.50 $0.00 $1,712.82 $306,074.84
141 $306,074.84 $1,429.50 $0.00 $1,730.59 $309,234.93
142 $309,234.93 $1,429.50 $0.00 $1,748.46 $312,412.89
143 $312,412.89 $1,429.50 $0.00 $1,766.43 $315,608.82
144 $315,608.82 $1,429.50 $0.00 $1,784.50 $318,822.82
145 $318,822.82 $1,429.50 $0.00 $1,802.67 $322,054.99
146 $322,054.99 $1,429.50 $0.00 $1,820.95 $325,305.44
147 $325,305.44 $1,429.50 $0.00 $1,839.32 $328,574.26
148 $328,574.26 $1,429.50 $0.00 $1,857.81 $331,861.57
149 $331,861.57 $1,429.50 $0.00 $1,876.39 $335,167.46
150 $335,167.46 $1,429.50 $0.00 $1,895.09 $338,492.05
151 $338,492.05 $1,429.50 $0.00 $1,913.88 $341,835.43
152 $341,835.43 $1,429.50 $0.00 $1,932.79 $345,197.72
153 $345,197.72 $1,429.50 $0.00 $1,951.80 $348,579.02
154 $348,579.02 $1,429.50 $0.00 $1,970.92 $351,979.44
155 $351,979.44 $1,429.50 $0.00 $1,990.14 $355,399.08
156 $355,399.08 $1,429.50 $0.00 $2,009.48 $358,838.06
157 $358,838.06 $1,429.50 $0.00 $2,028.92 $362,296.48
158 $362,296.48 $1,429.50 $0.00 $2,048.48 $365,774.46
159 $365,774.46 $1,429.50 $0.00 $2,068.14 $369,272.10
160 $369,272.10 $1,429.50 $0.00 $2,087.92 $372,789.52
161 $372,789.52 $1,429.50 $0.00 $2,107.81 $376,326.83
162 $376,326.83 $1,429.50 $0.00 $2,127.81 $379,884.14
163 $379,884.14 $1,429.50 $0.00 $2,147.92 $383,461.56
164 $383,461.56 $1,429.50 $0.00 $2,168.15 $387,059.21
165 $387,059.21 $1,429.50 $0.00 $2,188.49 $390,677.20
166 $390,677.20 $1,429.50 $0.00 $2,208.95 $394,315.65
167 $394,315.65 $1,429.50 $0.00 $2,229.52 $397,974.67
168 $397,974.67 $1,429.50 $0.00 $2,250.21 $401,654.38
169 $401,654.38 $1,429.50 $0.00 $2,271.01 $405,354.89
170 $405,354.89 $1,429.50 $0.00 $2,291.94 $409,076.33
171 $409,076.33 $1,429.50 $0.00 $2,312.98 $412,818.81
172 $412,818.81 $1,429.50 $0.00 $2,334.14 $416,582.45
173 $416,582.45 $1,429.50 $0.00 $2,355.42 $420,367.37
174 $420,367.37 $1,429.50 $0.00 $2,376.82 $424,173.69
175 $424,173.69 $1,429.50 $0.00 $2,398.34 $428,001.53
176 $428,001.53 $1,429.50 $0.00 $2,419.98 $431,851.01
177 $431,851.01 $1,429.50 $0.00 $2,441.75 $435,722.26
178 $435,722.26 $1,429.50 $0.00 $2,463.64 $439,615.40
179 $439,615.40 $1,429.50 $0.00 $2,485.65 $443,530.55
180 $443,530.55 $1,429.50 $0.00 $2,507.79 $447,467.84
181 $447,467.84 $1,429.50 $0.00 $2,530.05 $451,427.39
182 $451,427.39 $1,429.50 $0.00 $2,552.44 $455,409.33
183 $455,409.33 $1,429.50 $0.00 $2,574.95 $459,413.78
184 $459,413.78 $1,429.50 $0.00 $2,597.59 $463,440.87
185 $463,440.87 $1,429.50 $0.00 $2,620.36 $467,490.73
186 $467,490.73 $1,429.50 $0.00 $2,643.26 $471,563.49
187 $471,563.49 $1,429.50 $0.00 $2,666.29 $475,659.28
188 $475,659.28 $1,429.50 $0.00 $2,689.45 $479,778.23
189 $479,778.23 $1,429.50 $0.00 $2,712.74 $483,920.47
190 $483,920.47 $1,429.50 $0.00 $2,736.16 $488,086.13
191 $488,086.13 $1,429.50 $0.00 $2,759.71 $492,275.34
192 $492,275.34 $1,429.50 $0.00 $2,783.40 $496,488.24
193 $496,488.24 $1,429.50 $0.00 $2,807.22 $500,724.96
194 $500,724.96 $1,429.50 $0.00 $2,831.17 $504,985.63
195 $504,985.63 $1,429.50 $0.00 $2,855.26 $509,270.39
196 $509,270.39 $1,429.50 $0.00 $2,879.49 $513,579.38
197 $513,579.38 $1,429.50 $0.00 $2,903.85 $517,912.73
198 $517,912.73 $1,429.50 $0.00 $2,928.35 $522,270.58
199 $522,270.58 $1,429.50 $0.00 $2,952.99 $526,653.07
200 $526,653.07 $1,429.50 $0.00 $2,977.77 $531,060.34
201 $531,060.34 $1,429.50 $0.00 $3,002.69 $535,492.53
202 $535,492.53 $1,429.50 $0.00 $3,027.75 $539,949.78
203 $539,949.78 $1,429.50 $0.00 $3,052.95 $544,432.23
204 $544,432.23 $1,429.50 $0.00 $3,078.30 $548,940.03
205 $548,940.03 $1,429.50 $0.00 $3,103.79 $553,473.32
206 $553,473.32 $1,429.50 $0.00 $3,129.42 $558,032.24
207 $558,032.24 $1,429.50 $0.00 $3,155.20 $562,616.94
208 $562,616.94 $1,429.50 $0.00 $3,181.12 $567,227.56
209 $567,227.56 $1,429.50 $0.00 $3,207.19 $571,864.25
210 $571,864.25 $1,429.50 $0.00 $3,233.40 $576,527.15
211 $576,527.15 $1,429.50 $0.00 $3,259.77 $581,216.42
212 $581,216.42 $1,429.50 $0.00 $3,286.28 $585,932.20
213 $585,932.20 $1,429.50 $0.00 $3,312.95 $590,674.65
214 $590,674.65 $1,429.50 $0.00 $3,339.76 $595,443.91
215 $595,443.91 $1,429.50 $0.00 $3,366.73 $600,240.14
216 $600,240.14 $1,429.50 $0.00 $3,393.85 $605,063.49
217 $605,063.49 $1,429.50 $168,463.35 $3,421.12 $441,450.76
218 $441,450.76 $1,429.50 $0.00 $2,496.03 $445,376.29
219 $445,376.29 $1,429.50 $0.00 $2,518.22 $449,324.01
220 $449,324.01 $1,429.50 $0.00 $2,540.54 $453,294.05
221 $453,294.05 $1,429.50 $0.00 $2,562.99 $457,286.54
222 $457,286.54 $1,429.50 $0.00 $2,585.56 $461,301.60
223 $461,301.60 $1,429.50 $0.00 $2,608.27 $465,339.37
224 $465,339.37 $1,429.50 $0.00 $2,631.10 $469,399.97
225 $469,399.97 $1,429.50 $0.00 $2,654.06 $473,483.53
226 $473,483.53 $1,429.50 $0.00 $2,677.14 $477,590.17
227 $477,590.17 $1,429.50 $0.00 $2,700.36 $481,720.03
228 $481,720.03 $1,429.50 $0.00 $2,723.72 $485,873.25
229 $485,873.25 $1,429.50 $176,886.51 $2,747.20 $313,163.44
230 $313,163.44 $1,429.50 $0.00 $1,770.67 $316,363.61
231 $316,363.61 $1,429.50 $0.00 $1,788.77 $319,581.88
232 $319,581.88 $1,429.50 $0.00 $1,806.96 $322,818.34
233 $322,818.34 $1,429.50 $0.00 $1,825.26 $326,073.10
234 $326,073.10 $1,429.50 $0.00 $1,843.66 $329,346.26
235 $329,346.26 $1,429.50 $0.00 $1,862.17 $332,637.93
236 $332,637.93 $1,429.50 $0.00 $1,880.78 $335,948.21
237 $335,948.21 $1,429.50 $0.00 $1,899.50 $339,277.21
238 $339,277.21 $1,429.50 $0.00 $1,918.32 $342,625.03
239 $342,625.03 $1,429.50 $0.00 $1,937.25 $345,991.78
240 $345,991.78 $1,429.50 $0.00 $1,956.29 $349,377.57
241 $349,377.57 $1,429.50 $185,730.84 $1,975.43 $167,051.66
242 $167,051.66 $1,429.50 $0.00 $944.53 $169,425.69
243 $169,425.69 $1,429.50 $0.00 $957.96 $171,813.15
244 $171,813.15 $1,429.50 $0.00 $971.46 $174,214.11
245 $174,214.11 $1,429.50 $0.00 $985.03 $176,628.64
246 $176,628.64 $1,429.50 $0.00 $998.68 $179,056.82
247 $179,056.82 $1,429.50 $0.00 $1,012.41 $181,498.73
248 $181,498.73 $1,429.50 $0.00 $1,026.22 $183,954.45
249 $183,954.45 $1,429.50 $0.00 $1,040.11 $186,424.06
250 $186,424.06 $1,429.50 $0.00 $1,054.07 $188,907.63
251 $188,907.63 $1,429.50 $0.00 $1,068.11 $191,405.24
252 $191,405.24 $1,429.50 $0.00 $1,082.23 $193,916.97
253 $193,916.97 $0.00 $195,017.38 $1,096.43 -$3.98