Savings Plan and Future Cost Estimation for Hendrix College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2039$166,121
Monthly savings required$1,315

How much will it cost to send your child to Hendrix College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $664,483.47 for students enrolling in 2039 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,314.99 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$64,060.00
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 $1,314.99 $0.00 $0.00 $1,314.99
2 $1,314.99 $1,314.99 $0.00 $7.44 $2,637.42
3 $2,637.42 $1,314.99 $0.00 $14.91 $3,967.32
4 $3,967.32 $1,314.99 $0.00 $22.43 $5,304.74
5 $5,304.74 $1,314.99 $0.00 $29.99 $6,649.72
6 $6,649.72 $1,314.99 $0.00 $37.60 $8,002.31
7 $8,002.31 $1,314.99 $0.00 $45.25 $9,362.55
8 $9,362.55 $1,314.99 $0.00 $52.94 $10,730.48
9 $10,730.48 $1,314.99 $0.00 $60.67 $12,106.14
10 $12,106.14 $1,314.99 $0.00 $68.45 $13,489.58
11 $13,489.58 $1,314.99 $0.00 $76.27 $14,880.84
12 $14,880.84 $1,314.99 $0.00 $84.14 $16,279.97
13 $16,279.97 $1,314.99 $0.00 $92.05 $17,687.01
14 $17,687.01 $1,314.99 $0.00 $100.00 $19,102.00
15 $19,102.00 $1,314.99 $0.00 $108.01 $20,525.00
16 $20,525.00 $1,314.99 $0.00 $116.05 $21,956.04
17 $21,956.04 $1,314.99 $0.00 $124.14 $23,395.17
18 $23,395.17 $1,314.99 $0.00 $132.28 $24,842.44
19 $24,842.44 $1,314.99 $0.00 $140.46 $26,297.89
20 $26,297.89 $1,314.99 $0.00 $148.69 $27,761.57
21 $27,761.57 $1,314.99 $0.00 $156.97 $29,233.53
22 $29,233.53 $1,314.99 $0.00 $165.29 $30,713.81
23 $30,713.81 $1,314.99 $0.00 $173.66 $32,202.46
24 $32,202.46 $1,314.99 $0.00 $182.08 $33,699.53
25 $33,699.53 $1,314.99 $0.00 $190.54 $35,205.06
26 $35,205.06 $1,314.99 $0.00 $199.05 $36,719.10
27 $36,719.10 $1,314.99 $0.00 $207.62 $38,241.71
28 $38,241.71 $1,314.99 $0.00 $216.22 $39,772.92
29 $39,772.92 $1,314.99 $0.00 $224.88 $41,312.79
30 $41,312.79 $1,314.99 $0.00 $233.59 $42,861.37
31 $42,861.37 $1,314.99 $0.00 $242.34 $44,418.70
32 $44,418.70 $1,314.99 $0.00 $251.15 $45,984.84
33 $45,984.84 $1,314.99 $0.00 $260.00 $47,559.83
34 $47,559.83 $1,314.99 $0.00 $268.91 $49,143.73
35 $49,143.73 $1,314.99 $0.00 $277.87 $50,736.59
36 $50,736.59 $1,314.99 $0.00 $286.87 $52,338.45
37 $52,338.45 $1,314.99 $0.00 $295.93 $53,949.37
38 $53,949.37 $1,314.99 $0.00 $305.04 $55,569.40
39 $55,569.40 $1,314.99 $0.00 $314.20 $57,198.59
40 $57,198.59 $1,314.99 $0.00 $323.41 $58,836.99
41 $58,836.99 $1,314.99 $0.00 $332.67 $60,484.65
42 $60,484.65 $1,314.99 $0.00 $341.99 $62,141.63
43 $62,141.63 $1,314.99 $0.00 $351.36 $63,807.98
44 $63,807.98 $1,314.99 $0.00 $360.78 $65,483.75
45 $65,483.75 $1,314.99 $0.00 $370.25 $67,168.99
46 $67,168.99 $1,314.99 $0.00 $379.78 $68,863.76
47 $68,863.76 $1,314.99 $0.00 $389.37 $70,568.12
48 $70,568.12 $1,314.99 $0.00 $399.00 $72,282.11
49 $72,282.11 $1,314.99 $0.00 $408.69 $74,005.79
50 $74,005.79 $1,314.99 $0.00 $418.44 $75,739.22
51 $75,739.22 $1,314.99 $0.00 $428.24 $77,482.45
52 $77,482.45 $1,314.99 $0.00 $438.10 $79,235.54
53 $79,235.54 $1,314.99 $0.00 $448.01 $80,998.54
54 $80,998.54 $1,314.99 $0.00 $457.98 $82,771.51
55 $82,771.51 $1,314.99 $0.00 $468.00 $84,554.50
56 $84,554.50 $1,314.99 $0.00 $478.08 $86,347.57
57 $86,347.57 $1,314.99 $0.00 $488.22 $88,150.78
58 $88,150.78 $1,314.99 $0.00 $498.42 $89,964.19
59 $89,964.19 $1,314.99 $0.00 $508.67 $91,787.85
60 $91,787.85 $1,314.99 $0.00 $518.98 $93,621.82
61 $93,621.82 $1,314.99 $0.00 $529.35 $95,466.16
62 $95,466.16 $1,314.99 $0.00 $539.78 $97,320.93
63 $97,320.93 $1,314.99 $0.00 $550.27 $99,186.19
64 $99,186.19 $1,314.99 $0.00 $560.81 $101,061.99
65 $101,061.99 $1,314.99 $0.00 $571.42 $102,948.40
66 $102,948.40 $1,314.99 $0.00 $582.09 $104,845.48
67 $104,845.48 $1,314.99 $0.00 $592.81 $106,753.28
68 $106,753.28 $1,314.99 $0.00 $603.60 $108,671.87
69 $108,671.87 $1,314.99 $0.00 $614.45 $110,601.31
70 $110,601.31 $1,314.99 $0.00 $625.36 $112,541.66
71 $112,541.66 $1,314.99 $0.00 $636.33 $114,492.98
72 $114,492.98 $1,314.99 $0.00 $647.36 $116,455.33
73 $116,455.33 $1,314.99 $0.00 $658.46 $118,428.78
74 $118,428.78 $1,314.99 $0.00 $669.61 $120,413.38
75 $120,413.38 $1,314.99 $0.00 $680.83 $122,409.20
76 $122,409.20 $1,314.99 $0.00 $692.12 $124,416.31
77 $124,416.31 $1,314.99 $0.00 $703.47 $126,434.77
78 $126,434.77 $1,314.99 $0.00 $714.88 $128,464.64
79 $128,464.64 $1,314.99 $0.00 $726.36 $130,505.99
80 $130,505.99 $1,314.99 $0.00 $737.90 $132,558.88
81 $132,558.88 $1,314.99 $0.00 $749.51 $134,623.38
82 $134,623.38 $1,314.99 $0.00 $761.18 $136,699.55
83 $136,699.55 $1,314.99 $0.00 $772.92 $138,787.46
84 $138,787.46 $1,314.99 $0.00 $784.72 $140,887.17
85 $140,887.17 $1,314.99 $0.00 $796.60 $142,998.76
86 $142,998.76 $1,314.99 $0.00 $808.54 $145,122.29
87 $145,122.29 $1,314.99 $0.00 $820.54 $147,257.82
88 $147,257.82 $1,314.99 $0.00 $832.62 $149,405.43
89 $149,405.43 $1,314.99 $0.00 $844.76 $151,565.18
90 $151,565.18 $1,314.99 $0.00 $856.97 $153,737.14
91 $153,737.14 $1,314.99 $0.00 $869.25 $155,921.38
92 $155,921.38 $1,314.99 $0.00 $881.60 $158,117.97
93 $158,117.97 $1,314.99 $0.00 $894.02 $160,326.98
94 $160,326.98 $1,314.99 $0.00 $906.51 $162,548.48
95 $162,548.48 $1,314.99 $0.00 $919.07 $164,782.54
96 $164,782.54 $1,314.99 $0.00 $931.70 $167,029.23
97 $167,029.23 $1,314.99 $0.00 $944.41 $169,288.63
98 $169,288.63 $1,314.99 $0.00 $957.18 $171,560.80
99 $171,560.80 $1,314.99 $0.00 $970.03 $173,845.82
100 $173,845.82 $1,314.99 $0.00 $982.95 $176,143.76
101 $176,143.76 $1,314.99 $0.00 $995.94 $178,454.69
102 $178,454.69 $1,314.99 $0.00 $1,009.01 $180,778.69
103 $180,778.69 $1,314.99 $0.00 $1,022.15 $183,115.83
104 $183,115.83 $1,314.99 $0.00 $1,035.36 $185,466.18
105 $185,466.18 $1,314.99 $0.00 $1,048.65 $187,829.82
106 $187,829.82 $1,314.99 $0.00 $1,062.02 $190,206.83
107 $190,206.83 $1,314.99 $0.00 $1,075.46 $192,597.28
108 $192,597.28 $1,314.99 $0.00 $1,088.97 $195,001.24
109 $195,001.24 $1,314.99 $0.00 $1,102.57 $197,418.80
110 $197,418.80 $1,314.99 $0.00 $1,116.23 $199,850.02
111 $199,850.02 $1,314.99 $0.00 $1,129.98 $202,294.99
112 $202,294.99 $1,314.99 $0.00 $1,143.81 $204,753.79
113 $204,753.79 $1,314.99 $0.00 $1,157.71 $207,226.49
114 $207,226.49 $1,314.99 $0.00 $1,171.69 $209,713.17
115 $209,713.17 $1,314.99 $0.00 $1,185.75 $212,213.91
116 $212,213.91 $1,314.99 $0.00 $1,199.89 $214,728.79
117 $214,728.79 $1,314.99 $0.00 $1,214.11 $217,257.89
118 $217,257.89 $1,314.99 $0.00 $1,228.41 $219,801.29
119 $219,801.29 $1,314.99 $0.00 $1,242.79 $222,359.07
120 $222,359.07 $1,314.99 $0.00 $1,257.25 $224,931.31
121 $224,931.31 $1,314.99 $0.00 $1,271.79 $227,518.09
122 $227,518.09 $1,314.99 $0.00 $1,286.42 $230,119.50
123 $230,119.50 $1,314.99 $0.00 $1,301.13 $232,735.62
124 $232,735.62 $1,314.99 $0.00 $1,315.92 $235,366.53
125 $235,366.53 $1,314.99 $0.00 $1,330.80 $238,012.32
126 $238,012.32 $1,314.99 $0.00 $1,345.76 $240,673.07
127 $240,673.07 $1,314.99 $0.00 $1,360.80 $243,348.86
128 $243,348.86 $1,314.99 $0.00 $1,375.93 $246,039.78
129 $246,039.78 $1,314.99 $0.00 $1,391.14 $248,745.91
130 $248,745.91 $1,314.99 $0.00 $1,406.45 $251,467.35
131 $251,467.35 $1,314.99 $0.00 $1,421.83 $254,204.17
132 $254,204.17 $1,314.99 $0.00 $1,437.31 $256,956.47
133 $256,956.47 $1,314.99 $0.00 $1,452.87 $259,724.33
134 $259,724.33 $1,314.99 $0.00 $1,468.52 $262,507.84
135 $262,507.84 $1,314.99 $0.00 $1,484.26 $265,307.09
136 $265,307.09 $1,314.99 $0.00 $1,500.08 $268,122.16
137 $268,122.16 $1,314.99 $0.00 $1,516.00 $270,953.15
138 $270,953.15 $1,314.99 $0.00 $1,532.01 $273,800.15
139 $273,800.15 $1,314.99 $0.00 $1,548.11 $276,663.25
140 $276,663.25 $1,314.99 $0.00 $1,564.29 $279,542.53
141 $279,542.53 $1,314.99 $0.00 $1,580.57 $282,438.09
142 $282,438.09 $1,314.99 $0.00 $1,596.95 $285,350.03
143 $285,350.03 $1,314.99 $0.00 $1,613.41 $288,278.43
144 $288,278.43 $1,314.99 $0.00 $1,629.97 $291,223.39
145 $291,223.39 $1,314.99 $0.00 $1,646.62 $294,185.00
146 $294,185.00 $1,314.99 $0.00 $1,663.36 $297,163.35
147 $297,163.35 $1,314.99 $0.00 $1,680.20 $300,158.54
148 $300,158.54 $1,314.99 $0.00 $1,697.14 $303,170.67
149 $303,170.67 $1,314.99 $0.00 $1,714.17 $306,199.83
150 $306,199.83 $1,314.99 $0.00 $1,731.30 $309,246.12
151 $309,246.12 $1,314.99 $0.00 $1,748.52 $312,309.63
152 $312,309.63 $1,314.99 $0.00 $1,765.84 $315,390.46
153 $315,390.46 $1,314.99 $0.00 $1,783.26 $318,488.71
154 $318,488.71 $1,314.99 $0.00 $1,800.78 $321,604.48
155 $321,604.48 $1,314.99 $0.00 $1,818.40 $324,737.87
156 $324,737.87 $1,314.99 $0.00 $1,836.12 $327,888.98
157 $327,888.98 $1,314.99 $0.00 $1,853.93 $331,057.90
158 $331,057.90 $1,314.99 $0.00 $1,871.85 $334,244.74
159 $334,244.74 $1,314.99 $0.00 $1,889.87 $337,449.60
160 $337,449.60 $1,314.99 $0.00 $1,907.99 $340,672.58
161 $340,672.58 $1,314.99 $0.00 $1,926.21 $343,913.78
162 $343,913.78 $1,314.99 $0.00 $1,944.54 $347,173.31
163 $347,173.31 $1,314.99 $0.00 $1,962.97 $350,451.27
164 $350,451.27 $1,314.99 $0.00 $1,981.50 $353,747.76
165 $353,747.76 $1,314.99 $0.00 $2,000.14 $357,062.89
166 $357,062.89 $1,314.99 $0.00 $2,018.89 $360,396.77
167 $360,396.77 $1,314.99 $0.00 $2,037.74 $363,749.50
168 $363,749.50 $1,314.99 $0.00 $2,056.69 $367,121.18
169 $367,121.18 $1,314.99 $0.00 $2,075.76 $370,511.93
170 $370,511.93 $1,314.99 $0.00 $2,094.93 $373,921.85
171 $373,921.85 $1,314.99 $0.00 $2,114.21 $377,351.05
172 $377,351.05 $1,314.99 $0.00 $2,133.60 $380,799.64
173 $380,799.64 $1,314.99 $0.00 $2,153.10 $384,267.73
174 $384,267.73 $1,314.99 $0.00 $2,172.71 $387,755.43
175 $387,755.43 $1,314.99 $0.00 $2,192.43 $391,262.85
176 $391,262.85 $1,314.99 $0.00 $2,212.26 $394,790.10
177 $394,790.10 $1,314.99 $0.00 $2,232.20 $398,337.29
178 $398,337.29 $1,314.99 $0.00 $2,252.26 $401,904.54
179 $401,904.54 $1,314.99 $0.00 $2,272.43 $405,491.96
180 $405,491.96 $1,314.99 $0.00 $2,292.71 $409,099.66
181 $409,099.66 $1,314.99 $0.00 $2,313.11 $412,727.76
182 $412,727.76 $1,314.99 $0.00 $2,333.62 $416,376.37
183 $416,376.37 $1,314.99 $0.00 $2,354.25 $420,045.61
184 $420,045.61 $1,314.99 $0.00 $2,375.00 $423,735.60
185 $423,735.60 $1,314.99 $0.00 $2,395.86 $427,446.45
186 $427,446.45 $1,314.99 $0.00 $2,416.84 $431,178.28
187 $431,178.28 $1,314.99 $0.00 $2,437.94 $434,931.21
188 $434,931.21 $1,314.99 $0.00 $2,459.16 $438,705.36
189 $438,705.36 $1,314.99 $0.00 $2,480.50 $442,500.85
190 $442,500.85 $1,314.99 $0.00 $2,501.96 $446,317.80
191 $446,317.80 $1,314.99 $0.00 $2,523.55 $450,156.34
192 $450,156.34 $1,314.99 $0.00 $2,545.25 $454,016.58
193 $454,016.58 $1,314.99 $0.00 $2,567.08 $457,898.65
194 $457,898.65 $1,314.99 $0.00 $2,589.03 $461,802.67
195 $461,802.67 $1,314.99 $0.00 $2,611.10 $465,728.76
196 $465,728.76 $1,314.99 $0.00 $2,633.30 $469,677.05
197 $469,677.05 $1,314.99 $0.00 $2,655.62 $473,647.66
198 $473,647.66 $1,314.99 $0.00 $2,678.07 $477,640.72
199 $477,640.72 $1,314.99 $0.00 $2,700.65 $481,656.36
200 $481,656.36 $1,314.99 $0.00 $2,723.36 $485,694.71
201 $485,694.71 $1,314.99 $0.00 $2,746.19 $489,755.89
202 $489,755.89 $1,314.99 $0.00 $2,769.15 $493,840.03
203 $493,840.03 $1,314.99 $0.00 $2,792.24 $497,947.26
204 $497,947.26 $1,314.99 $0.00 $2,815.47 $502,077.72
205 $502,077.72 $1,314.99 $0.00 $2,838.82 $506,231.53
206 $506,231.53 $1,314.99 $0.00 $2,862.31 $510,408.83
207 $510,408.83 $1,314.99 $0.00 $2,885.93 $514,609.75
208 $514,609.75 $1,314.99 $0.00 $2,909.68 $518,834.42
209 $518,834.42 $1,314.99 $0.00 $2,933.57 $523,082.98
210 $523,082.98 $1,314.99 $0.00 $2,957.59 $527,355.56
211 $527,355.56 $1,314.99 $0.00 $2,981.75 $531,652.30
212 $531,652.30 $1,314.99 $0.00 $3,006.04 $535,973.33
213 $535,973.33 $1,314.99 $0.00 $3,030.47 $540,318.79
214 $540,318.79 $1,314.99 $0.00 $3,055.04 $544,688.82
215 $544,688.82 $1,314.99 $0.00 $3,079.75 $549,083.56
216 $549,083.56 $1,314.99 $0.00 $3,104.60 $553,503.15
217 $553,503.15 $1,314.99 $154,168.03 $3,129.59 $403,779.70
218 $403,779.70 $1,314.99 $0.00 $2,283.03 $407,377.72
219 $407,377.72 $1,314.99 $0.00 $2,303.37 $410,996.08
220 $410,996.08 $1,314.99 $0.00 $2,323.83 $414,634.90
221 $414,634.90 $1,314.99 $0.00 $2,344.41 $418,294.30
222 $418,294.30 $1,314.99 $0.00 $2,365.10 $421,974.39
223 $421,974.39 $1,314.99 $0.00 $2,385.90 $425,675.28
224 $425,675.28 $1,314.99 $0.00 $2,406.83 $429,397.10
225 $429,397.10 $1,314.99 $0.00 $2,427.87 $433,139.96
226 $433,139.96 $1,314.99 $0.00 $2,449.04 $436,903.99
227 $436,903.99 $1,314.99 $0.00 $2,470.32 $440,689.30
228 $440,689.30 $1,314.99 $0.00 $2,491.72 $444,496.01
229 $444,496.01 $1,314.99 $161,876.43 $2,513.25 $286,447.82
230 $286,447.82 $1,314.99 $0.00 $1,619.62 $289,382.43
231 $289,382.43 $1,314.99 $0.00 $1,636.21 $292,333.63
232 $292,333.63 $1,314.99 $0.00 $1,652.90 $295,301.52
233 $295,301.52 $1,314.99 $0.00 $1,669.68 $298,286.19
234 $298,286.19 $1,314.99 $0.00 $1,686.55 $301,287.73
235 $301,287.73 $1,314.99 $0.00 $1,703.52 $304,306.24
236 $304,306.24 $1,314.99 $0.00 $1,720.59 $307,341.82
237 $307,341.82 $1,314.99 $0.00 $1,737.76 $310,394.57
238 $310,394.57 $1,314.99 $0.00 $1,755.02 $313,464.58
239 $313,464.58 $1,314.99 $0.00 $1,772.37 $316,551.94
240 $316,551.94 $1,314.99 $0.00 $1,789.83 $319,656.76
241 $319,656.76 $1,314.99 $169,970.25 $1,807.39 $152,808.89
242 $152,808.89 $1,314.99 $0.00 $864.00 $154,987.88
243 $154,987.88 $1,314.99 $0.00 $876.32 $157,179.19
244 $157,179.19 $1,314.99 $0.00 $888.71 $159,382.89
245 $159,382.89 $1,314.99 $0.00 $901.17 $161,599.05
246 $161,599.05 $1,314.99 $0.00 $913.70 $163,827.74
247 $163,827.74 $1,314.99 $0.00 $926.31 $166,069.04
248 $166,069.04 $1,314.99 $0.00 $938.98 $168,323.01
249 $168,323.01 $1,314.99 $0.00 $951.72 $170,589.72
250 $170,589.72 $1,314.99 $0.00 $964.54 $172,869.25
251 $172,869.25 $1,314.99 $0.00 $977.43 $175,161.67
252 $175,161.67 $1,314.99 $0.00 $990.39 $177,467.05
253 $177,467.05 $0.00 $178,468.76 $1,003.42 $1.71