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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$186,929
Monthly savings required$1,480

How much will it cost to send your child to California Institute of Technology in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $747,715.06 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,479.70 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$72,084.00
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 $1,479.70 $0.00 $0.00 $1,479.70
2 $1,479.70 $1,479.70 $0.00 $8.37 $2,967.77
3 $2,967.77 $1,479.70 $0.00 $16.78 $4,464.25
4 $4,464.25 $1,479.70 $0.00 $25.24 $5,969.19
5 $5,969.19 $1,479.70 $0.00 $33.75 $7,482.64
6 $7,482.64 $1,479.70 $0.00 $42.31 $9,004.65
7 $9,004.65 $1,479.70 $0.00 $50.91 $10,535.26
8 $10,535.26 $1,479.70 $0.00 $59.57 $12,074.53
9 $12,074.53 $1,479.70 $0.00 $68.27 $13,622.50
10 $13,622.50 $1,479.70 $0.00 $77.02 $15,179.22
11 $15,179.22 $1,479.70 $0.00 $85.83 $16,744.75
12 $16,744.75 $1,479.70 $0.00 $94.68 $18,319.13
13 $18,319.13 $1,479.70 $0.00 $103.58 $19,902.41
14 $19,902.41 $1,479.70 $0.00 $112.53 $21,494.64
15 $21,494.64 $1,479.70 $0.00 $121.53 $23,095.87
16 $23,095.87 $1,479.70 $0.00 $130.59 $24,706.16
17 $24,706.16 $1,479.70 $0.00 $139.69 $26,325.55
18 $26,325.55 $1,479.70 $0.00 $148.85 $27,954.10
19 $27,954.10 $1,479.70 $0.00 $158.06 $29,591.86
20 $29,591.86 $1,479.70 $0.00 $167.32 $31,238.88
21 $31,238.88 $1,479.70 $0.00 $176.63 $32,895.21
22 $32,895.21 $1,479.70 $0.00 $185.99 $34,560.90
23 $34,560.90 $1,479.70 $0.00 $195.41 $36,236.01
24 $36,236.01 $1,479.70 $0.00 $204.88 $37,920.59
25 $37,920.59 $1,479.70 $0.00 $214.41 $39,614.70
26 $39,614.70 $1,479.70 $0.00 $223.99 $41,318.39
27 $41,318.39 $1,479.70 $0.00 $233.62 $43,031.71
28 $43,031.71 $1,479.70 $0.00 $243.31 $44,754.72
29 $44,754.72 $1,479.70 $0.00 $253.05 $46,487.47
30 $46,487.47 $1,479.70 $0.00 $262.85 $48,230.02
31 $48,230.02 $1,479.70 $0.00 $272.70 $49,982.42
32 $49,982.42 $1,479.70 $0.00 $282.61 $51,744.73
33 $51,744.73 $1,479.70 $0.00 $292.57 $53,517.00
34 $53,517.00 $1,479.70 $0.00 $302.59 $55,299.29
35 $55,299.29 $1,479.70 $0.00 $312.67 $57,091.66
36 $57,091.66 $1,479.70 $0.00 $322.80 $58,894.16
37 $58,894.16 $1,479.70 $0.00 $333.00 $60,706.86
38 $60,706.86 $1,479.70 $0.00 $343.25 $62,529.81
39 $62,529.81 $1,479.70 $0.00 $353.55 $64,363.06
40 $64,363.06 $1,479.70 $0.00 $363.92 $66,206.68
41 $66,206.68 $1,479.70 $0.00 $374.34 $68,060.72
42 $68,060.72 $1,479.70 $0.00 $384.83 $69,925.25
43 $69,925.25 $1,479.70 $0.00 $395.37 $71,800.32
44 $71,800.32 $1,479.70 $0.00 $405.97 $73,685.99
45 $73,685.99 $1,479.70 $0.00 $416.63 $75,582.32
46 $75,582.32 $1,479.70 $0.00 $427.35 $77,489.37
47 $77,489.37 $1,479.70 $0.00 $438.14 $79,407.21
48 $79,407.21 $1,479.70 $0.00 $448.98 $81,335.89
49 $81,335.89 $1,479.70 $0.00 $459.88 $83,275.47
50 $83,275.47 $1,479.70 $0.00 $470.85 $85,226.02
51 $85,226.02 $1,479.70 $0.00 $481.88 $87,187.60
52 $87,187.60 $1,479.70 $0.00 $492.97 $89,160.27
53 $89,160.27 $1,479.70 $0.00 $504.13 $91,144.10
54 $91,144.10 $1,479.70 $0.00 $515.34 $93,139.14
55 $93,139.14 $1,479.70 $0.00 $526.62 $95,145.46
56 $95,145.46 $1,479.70 $0.00 $537.97 $97,163.13
57 $97,163.13 $1,479.70 $0.00 $549.37 $99,192.20
58 $99,192.20 $1,479.70 $0.00 $560.85 $101,232.75
59 $101,232.75 $1,479.70 $0.00 $572.38 $103,284.83
60 $103,284.83 $1,479.70 $0.00 $583.99 $105,348.52
61 $105,348.52 $1,479.70 $0.00 $595.66 $107,423.88
62 $107,423.88 $1,479.70 $0.00 $607.39 $109,510.97
63 $109,510.97 $1,479.70 $0.00 $619.19 $111,609.86
64 $111,609.86 $1,479.70 $0.00 $631.06 $113,720.62
65 $113,720.62 $1,479.70 $0.00 $642.99 $115,843.31
66 $115,843.31 $1,479.70 $0.00 $654.99 $117,978.00
67 $117,978.00 $1,479.70 $0.00 $667.06 $120,124.76
68 $120,124.76 $1,479.70 $0.00 $679.20 $122,283.66
69 $122,283.66 $1,479.70 $0.00 $691.41 $124,454.77
70 $124,454.77 $1,479.70 $0.00 $703.69 $126,638.16
71 $126,638.16 $1,479.70 $0.00 $716.03 $128,833.89
72 $128,833.89 $1,479.70 $0.00 $728.45 $131,042.04
73 $131,042.04 $1,479.70 $0.00 $740.93 $133,262.67
74 $133,262.67 $1,479.70 $0.00 $753.49 $135,495.86
75 $135,495.86 $1,479.70 $0.00 $766.11 $137,741.67
76 $137,741.67 $1,479.70 $0.00 $778.81 $140,000.18
77 $140,000.18 $1,479.70 $0.00 $791.58 $142,271.46
78 $142,271.46 $1,479.70 $0.00 $804.42 $144,555.58
79 $144,555.58 $1,479.70 $0.00 $817.34 $146,852.62
80 $146,852.62 $1,479.70 $0.00 $830.33 $149,162.65
81 $149,162.65 $1,479.70 $0.00 $843.39 $151,485.74
82 $151,485.74 $1,479.70 $0.00 $856.52 $153,821.96
83 $153,821.96 $1,479.70 $0.00 $869.73 $156,171.39
84 $156,171.39 $1,479.70 $0.00 $883.02 $158,534.11
85 $158,534.11 $1,479.70 $0.00 $896.37 $160,910.18
86 $160,910.18 $1,479.70 $0.00 $909.81 $163,299.69
87 $163,299.69 $1,479.70 $0.00 $923.32 $165,702.71
88 $165,702.71 $1,479.70 $0.00 $936.91 $168,119.32
89 $168,119.32 $1,479.70 $0.00 $950.57 $170,549.59
90 $170,549.59 $1,479.70 $0.00 $964.31 $172,993.60
91 $172,993.60 $1,479.70 $0.00 $978.13 $175,451.43
92 $175,451.43 $1,479.70 $0.00 $992.03 $177,923.16
93 $177,923.16 $1,479.70 $0.00 $1,006.00 $180,408.86
94 $180,408.86 $1,479.70 $0.00 $1,020.06 $182,908.62
95 $182,908.62 $1,479.70 $0.00 $1,034.19 $185,422.51
96 $185,422.51 $1,479.70 $0.00 $1,048.41 $187,950.62
97 $187,950.62 $1,479.70 $0.00 $1,062.70 $190,493.02
98 $190,493.02 $1,479.70 $0.00 $1,077.08 $193,049.80
99 $193,049.80 $1,479.70 $0.00 $1,091.53 $195,621.03
100 $195,621.03 $1,479.70 $0.00 $1,106.07 $198,206.80
101 $198,206.80 $1,479.70 $0.00 $1,120.69 $200,807.19
102 $200,807.19 $1,479.70 $0.00 $1,135.39 $203,422.28
103 $203,422.28 $1,479.70 $0.00 $1,150.18 $206,052.16
104 $206,052.16 $1,479.70 $0.00 $1,165.05 $208,696.91
105 $208,696.91 $1,479.70 $0.00 $1,180.00 $211,356.61
106 $211,356.61 $1,479.70 $0.00 $1,195.04 $214,031.35
107 $214,031.35 $1,479.70 $0.00 $1,210.16 $216,721.21
108 $216,721.21 $1,479.70 $0.00 $1,225.37 $219,426.28
109 $219,426.28 $1,479.70 $0.00 $1,240.67 $222,146.65
110 $222,146.65 $1,479.70 $0.00 $1,256.05 $224,882.40
111 $224,882.40 $1,479.70 $0.00 $1,271.52 $227,633.62
112 $227,633.62 $1,479.70 $0.00 $1,287.07 $230,400.39
113 $230,400.39 $1,479.70 $0.00 $1,302.72 $233,182.81
114 $233,182.81 $1,479.70 $0.00 $1,318.45 $235,980.96
115 $235,980.96 $1,479.70 $0.00 $1,334.27 $238,794.93
116 $238,794.93 $1,479.70 $0.00 $1,350.18 $241,624.81
117 $241,624.81 $1,479.70 $0.00 $1,366.18 $244,470.69
118 $244,470.69 $1,479.70 $0.00 $1,382.27 $247,332.66
119 $247,332.66 $1,479.70 $0.00 $1,398.45 $250,210.81
120 $250,210.81 $1,479.70 $0.00 $1,414.73 $253,105.24
121 $253,105.24 $1,479.70 $0.00 $1,431.09 $256,016.03
122 $256,016.03 $1,479.70 $0.00 $1,447.55 $258,943.28
123 $258,943.28 $1,479.70 $0.00 $1,464.10 $261,887.08
124 $261,887.08 $1,479.70 $0.00 $1,480.75 $264,847.53
125 $264,847.53 $1,479.70 $0.00 $1,497.49 $267,824.72
126 $267,824.72 $1,479.70 $0.00 $1,514.32 $270,818.74
127 $270,818.74 $1,479.70 $0.00 $1,531.25 $273,829.69
128 $273,829.69 $1,479.70 $0.00 $1,548.27 $276,857.66
129 $276,857.66 $1,479.70 $0.00 $1,565.39 $279,902.75
130 $279,902.75 $1,479.70 $0.00 $1,582.61 $282,965.06
131 $282,965.06 $1,479.70 $0.00 $1,599.93 $286,044.69
132 $286,044.69 $1,479.70 $0.00 $1,617.34 $289,141.73
133 $289,141.73 $1,479.70 $0.00 $1,634.85 $292,256.28
134 $292,256.28 $1,479.70 $0.00 $1,652.46 $295,388.44
135 $295,388.44 $1,479.70 $0.00 $1,670.17 $298,538.31
136 $298,538.31 $1,479.70 $0.00 $1,687.98 $301,705.99
137 $301,705.99 $1,479.70 $0.00 $1,705.89 $304,891.58
138 $304,891.58 $1,479.70 $0.00 $1,723.90 $308,095.18
139 $308,095.18 $1,479.70 $0.00 $1,742.01 $311,316.89
140 $311,316.89 $1,479.70 $0.00 $1,760.23 $314,556.82
141 $314,556.82 $1,479.70 $0.00 $1,778.55 $317,815.07
142 $317,815.07 $1,479.70 $0.00 $1,796.97 $321,091.74
143 $321,091.74 $1,479.70 $0.00 $1,815.50 $324,386.94
144 $324,386.94 $1,479.70 $0.00 $1,834.13 $327,700.77
145 $327,700.77 $1,479.70 $0.00 $1,852.87 $331,033.34
146 $331,033.34 $1,479.70 $0.00 $1,871.71 $334,384.75
147 $334,384.75 $1,479.70 $0.00 $1,890.66 $337,755.11
148 $337,755.11 $1,479.70 $0.00 $1,909.72 $341,144.53
149 $341,144.53 $1,479.70 $0.00 $1,928.88 $344,553.11
150 $344,553.11 $1,479.70 $0.00 $1,948.15 $347,980.96
151 $347,980.96 $1,479.70 $0.00 $1,967.53 $351,428.19
152 $351,428.19 $1,479.70 $0.00 $1,987.03 $354,894.92
153 $354,894.92 $1,479.70 $0.00 $2,006.63 $358,381.25
154 $358,381.25 $1,479.70 $0.00 $2,026.34 $361,887.29
155 $361,887.29 $1,479.70 $0.00 $2,046.16 $365,413.15
156 $365,413.15 $1,479.70 $0.00 $2,066.10 $368,958.95
157 $368,958.95 $1,479.70 $0.00 $2,086.15 $372,524.80
158 $372,524.80 $1,479.70 $0.00 $2,106.31 $376,110.81
159 $376,110.81 $1,479.70 $0.00 $2,126.59 $379,717.10
160 $379,717.10 $1,479.70 $0.00 $2,146.98 $383,343.78
161 $383,343.78 $1,479.70 $0.00 $2,167.48 $386,990.96
162 $386,990.96 $1,479.70 $0.00 $2,188.10 $390,658.76
163 $390,658.76 $1,479.70 $0.00 $2,208.84 $394,347.30
164 $394,347.30 $1,479.70 $0.00 $2,229.70 $398,056.70
165 $398,056.70 $1,479.70 $0.00 $2,250.67 $401,787.07
166 $401,787.07 $1,479.70 $0.00 $2,271.76 $405,538.53
167 $405,538.53 $1,479.70 $0.00 $2,292.97 $409,311.20
168 $409,311.20 $1,479.70 $0.00 $2,314.31 $413,105.21
169 $413,105.21 $1,479.70 $0.00 $2,335.76 $416,920.67
170 $416,920.67 $1,479.70 $0.00 $2,357.33 $420,757.70
171 $420,757.70 $1,479.70 $0.00 $2,379.03 $424,616.43
172 $424,616.43 $1,479.70 $0.00 $2,400.84 $428,496.97
173 $428,496.97 $1,479.70 $0.00 $2,422.78 $432,399.45
174 $432,399.45 $1,479.70 $0.00 $2,444.85 $436,324.00
175 $436,324.00 $1,479.70 $0.00 $2,467.04 $440,270.74
176 $440,270.74 $1,479.70 $0.00 $2,489.35 $444,239.79
177 $444,239.79 $1,479.70 $0.00 $2,511.80 $448,231.29
178 $448,231.29 $1,479.70 $0.00 $2,534.36 $452,245.35
179 $452,245.35 $1,479.70 $0.00 $2,557.06 $456,282.11
180 $456,282.11 $1,479.70 $0.00 $2,579.89 $460,341.70
181 $460,341.70 $1,479.70 $0.00 $2,602.84 $464,424.24
182 $464,424.24 $1,479.70 $0.00 $2,625.92 $468,529.86
183 $468,529.86 $1,479.70 $0.00 $2,649.14 $472,658.70
184 $472,658.70 $1,479.70 $0.00 $2,672.48 $476,810.88
185 $476,810.88 $1,479.70 $0.00 $2,695.96 $480,986.54
186 $480,986.54 $1,479.70 $0.00 $2,719.57 $485,185.81
187 $485,185.81 $1,479.70 $0.00 $2,743.31 $489,408.82
188 $489,408.82 $1,479.70 $0.00 $2,767.19 $493,655.71
189 $493,655.71 $1,479.70 $0.00 $2,791.20 $497,926.61
190 $497,926.61 $1,479.70 $0.00 $2,815.35 $502,221.66
191 $502,221.66 $1,479.70 $0.00 $2,839.63 $506,540.99
192 $506,540.99 $1,479.70 $0.00 $2,864.06 $510,884.75
193 $510,884.75 $1,479.70 $0.00 $2,888.62 $515,253.07
194 $515,253.07 $1,479.70 $0.00 $2,913.32 $519,646.09
195 $519,646.09 $1,479.70 $0.00 $2,938.15 $524,063.94
196 $524,063.94 $1,479.70 $0.00 $2,963.13 $528,506.77
197 $528,506.77 $1,479.70 $0.00 $2,988.25 $532,974.72
198 $532,974.72 $1,479.70 $0.00 $3,013.52 $537,467.94
199 $537,467.94 $1,479.70 $0.00 $3,038.92 $541,986.56
200 $541,986.56 $1,479.70 $0.00 $3,064.47 $546,530.73
201 $546,530.73 $1,479.70 $0.00 $3,090.16 $551,100.59
202 $551,100.59 $1,479.70 $0.00 $3,116.00 $555,696.29
203 $555,696.29 $1,479.70 $0.00 $3,141.99 $560,317.98
204 $560,317.98 $1,479.70 $0.00 $3,168.12 $564,965.80
205 $564,965.80 $1,479.70 $0.00 $3,194.40 $569,639.90
206 $569,639.90 $1,479.70 $0.00 $3,220.83 $574,340.43
207 $574,340.43 $1,479.70 $0.00 $3,247.40 $579,067.53
208 $579,067.53 $1,479.70 $0.00 $3,274.13 $583,821.36
209 $583,821.36 $1,479.70 $0.00 $3,301.01 $588,602.07
210 $588,602.07 $1,479.70 $0.00 $3,328.04 $593,409.81
211 $593,409.81 $1,479.70 $0.00 $3,355.23 $598,244.74
212 $598,244.74 $1,479.70 $0.00 $3,382.56 $603,107.00
213 $603,107.00 $1,479.70 $0.00 $3,410.05 $607,996.75
214 $607,996.75 $1,479.70 $0.00 $3,437.70 $612,914.15
215 $612,914.15 $1,479.70 $0.00 $3,465.51 $617,859.36
216 $617,859.36 $1,479.70 $0.00 $3,493.47 $622,832.53
217 $622,832.53 $1,479.70 $173,478.74 $3,521.59 $454,355.08
218 $454,355.08 $1,479.70 $0.00 $2,568.99 $458,403.77
219 $458,403.77 $1,479.70 $0.00 $2,591.88 $462,475.35
220 $462,475.35 $1,479.70 $0.00 $2,614.90 $466,569.95
221 $466,569.95 $1,479.70 $0.00 $2,638.05 $470,687.70
222 $470,687.70 $1,479.70 $0.00 $2,661.34 $474,828.74
223 $474,828.74 $1,479.70 $0.00 $2,684.75 $478,993.19
224 $478,993.19 $1,479.70 $0.00 $2,708.30 $483,181.19
225 $483,181.19 $1,479.70 $0.00 $2,731.98 $487,392.87
226 $487,392.87 $1,479.70 $0.00 $2,755.79 $491,628.36
227 $491,628.36 $1,479.70 $0.00 $2,779.74 $495,887.80
228 $495,887.80 $1,479.70 $0.00 $2,803.82 $500,171.32
229 $500,171.32 $1,479.70 $182,152.68 $2,828.04 $322,326.38
230 $322,326.38 $1,479.70 $0.00 $1,822.48 $325,628.56
231 $325,628.56 $1,479.70 $0.00 $1,841.15 $328,949.41
232 $328,949.41 $1,479.70 $0.00 $1,859.93 $332,289.04
233 $332,289.04 $1,479.70 $0.00 $1,878.81 $335,647.55
234 $335,647.55 $1,479.70 $0.00 $1,897.80 $339,025.05
235 $339,025.05 $1,479.70 $0.00 $1,916.90 $342,421.65
236 $342,421.65 $1,479.70 $0.00 $1,936.10 $345,837.45
237 $345,837.45 $1,479.70 $0.00 $1,955.42 $349,272.57
238 $349,272.57 $1,479.70 $0.00 $1,974.84 $352,727.11
239 $352,727.11 $1,479.70 $0.00 $1,994.37 $356,201.18
240 $356,201.18 $1,479.70 $0.00 $2,014.01 $359,694.89
241 $359,694.89 $1,479.70 $191,260.31 $2,033.77 $171,948.05
242 $171,948.05 $1,479.70 $0.00 $972.22 $174,399.97
243 $174,399.97 $1,479.70 $0.00 $986.08 $176,865.75
244 $176,865.75 $1,479.70 $0.00 $1,000.02 $179,345.47
245 $179,345.47 $1,479.70 $0.00 $1,014.05 $181,839.22
246 $181,839.22 $1,479.70 $0.00 $1,028.15 $184,347.07
247 $184,347.07 $1,479.70 $0.00 $1,042.33 $186,869.10
248 $186,869.10 $1,479.70 $0.00 $1,056.59 $189,405.39
249 $189,405.39 $1,479.70 $0.00 $1,070.93 $191,956.02
250 $191,956.02 $1,479.70 $0.00 $1,085.35 $194,521.07
251 $194,521.07 $1,479.70 $0.00 $1,099.85 $197,100.62
252 $197,100.62 $1,479.70 $0.00 $1,114.44 $199,694.76
253 $199,694.76 $0.00 $200,823.33 $1,129.10 $0.53