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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$191,265
Monthly savings required$1,514

How much will it cost to send your child to Scripps College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $765,058.43 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,514.02 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$73,756.00
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 $1,514.02 $0.00 $0.00 $1,514.02
2 $1,514.02 $1,514.02 $0.00 $8.56 $3,036.60
3 $3,036.60 $1,514.02 $0.00 $17.17 $4,567.79
4 $4,567.79 $1,514.02 $0.00 $25.83 $6,107.64
5 $6,107.64 $1,514.02 $0.00 $34.53 $7,656.19
6 $7,656.19 $1,514.02 $0.00 $43.29 $9,213.50
7 $9,213.50 $1,514.02 $0.00 $52.09 $10,779.61
8 $10,779.61 $1,514.02 $0.00 $60.95 $12,354.58
9 $12,354.58 $1,514.02 $0.00 $69.85 $13,938.45
10 $13,938.45 $1,514.02 $0.00 $78.81 $15,531.28
11 $15,531.28 $1,514.02 $0.00 $87.82 $17,133.12
12 $17,133.12 $1,514.02 $0.00 $96.87 $18,744.01
13 $18,744.01 $1,514.02 $0.00 $105.98 $20,364.01
14 $20,364.01 $1,514.02 $0.00 $115.14 $21,993.17
15 $21,993.17 $1,514.02 $0.00 $124.35 $23,631.54
16 $23,631.54 $1,514.02 $0.00 $133.62 $25,279.18
17 $25,279.18 $1,514.02 $0.00 $142.93 $26,936.13
18 $26,936.13 $1,514.02 $0.00 $152.30 $28,602.45
19 $28,602.45 $1,514.02 $0.00 $161.72 $30,278.19
20 $30,278.19 $1,514.02 $0.00 $171.20 $31,963.41
21 $31,963.41 $1,514.02 $0.00 $180.73 $33,658.16
22 $33,658.16 $1,514.02 $0.00 $190.31 $35,362.49
23 $35,362.49 $1,514.02 $0.00 $199.94 $37,076.45
24 $37,076.45 $1,514.02 $0.00 $209.64 $38,800.11
25 $38,800.11 $1,514.02 $0.00 $219.38 $40,533.51
26 $40,533.51 $1,514.02 $0.00 $229.18 $42,276.71
27 $42,276.71 $1,514.02 $0.00 $239.04 $44,029.77
28 $44,029.77 $1,514.02 $0.00 $248.95 $45,792.74
29 $45,792.74 $1,514.02 $0.00 $258.92 $47,565.68
30 $47,565.68 $1,514.02 $0.00 $268.94 $49,348.64
31 $49,348.64 $1,514.02 $0.00 $279.02 $51,141.68
32 $51,141.68 $1,514.02 $0.00 $289.16 $52,944.86
33 $52,944.86 $1,514.02 $0.00 $299.36 $54,758.24
34 $54,758.24 $1,514.02 $0.00 $309.61 $56,581.87
35 $56,581.87 $1,514.02 $0.00 $319.92 $58,415.81
36 $58,415.81 $1,514.02 $0.00 $330.29 $60,260.12
37 $60,260.12 $1,514.02 $0.00 $340.72 $62,114.86
38 $62,114.86 $1,514.02 $0.00 $351.21 $63,980.09
39 $63,980.09 $1,514.02 $0.00 $361.75 $65,855.86
40 $65,855.86 $1,514.02 $0.00 $372.36 $67,742.24
41 $67,742.24 $1,514.02 $0.00 $383.02 $69,639.28
42 $69,639.28 $1,514.02 $0.00 $393.75 $71,547.05
43 $71,547.05 $1,514.02 $0.00 $404.54 $73,465.61
44 $73,465.61 $1,514.02 $0.00 $415.39 $75,395.02
45 $75,395.02 $1,514.02 $0.00 $426.29 $77,335.33
46 $77,335.33 $1,514.02 $0.00 $437.27 $79,286.62
47 $79,286.62 $1,514.02 $0.00 $448.30 $81,248.94
48 $81,248.94 $1,514.02 $0.00 $459.39 $83,222.35
49 $83,222.35 $1,514.02 $0.00 $470.55 $85,206.92
50 $85,206.92 $1,514.02 $0.00 $481.77 $87,202.71
51 $87,202.71 $1,514.02 $0.00 $493.06 $89,209.79
52 $89,209.79 $1,514.02 $0.00 $504.41 $91,228.22
53 $91,228.22 $1,514.02 $0.00 $515.82 $93,258.06
54 $93,258.06 $1,514.02 $0.00 $527.29 $95,299.37
55 $95,299.37 $1,514.02 $0.00 $538.84 $97,352.23
56 $97,352.23 $1,514.02 $0.00 $550.44 $99,416.69
57 $99,416.69 $1,514.02 $0.00 $562.12 $101,492.83
58 $101,492.83 $1,514.02 $0.00 $573.86 $103,580.71
59 $103,580.71 $1,514.02 $0.00 $585.66 $105,680.39
60 $105,680.39 $1,514.02 $0.00 $597.53 $107,791.94
61 $107,791.94 $1,514.02 $0.00 $609.47 $109,915.43
62 $109,915.43 $1,514.02 $0.00 $621.48 $112,050.93
63 $112,050.93 $1,514.02 $0.00 $633.55 $114,198.50
64 $114,198.50 $1,514.02 $0.00 $645.69 $116,358.21
65 $116,358.21 $1,514.02 $0.00 $657.91 $118,530.14
66 $118,530.14 $1,514.02 $0.00 $670.19 $120,714.35
67 $120,714.35 $1,514.02 $0.00 $682.54 $122,910.91
68 $122,910.91 $1,514.02 $0.00 $694.96 $125,119.89
69 $125,119.89 $1,514.02 $0.00 $707.45 $127,341.36
70 $127,341.36 $1,514.02 $0.00 $720.01 $129,575.39
71 $129,575.39 $1,514.02 $0.00 $732.64 $131,822.05
72 $131,822.05 $1,514.02 $0.00 $745.34 $134,081.41
73 $134,081.41 $1,514.02 $0.00 $758.12 $136,353.55
74 $136,353.55 $1,514.02 $0.00 $770.96 $138,638.53
75 $138,638.53 $1,514.02 $0.00 $783.88 $140,936.43
76 $140,936.43 $1,514.02 $0.00 $796.88 $143,247.33
77 $143,247.33 $1,514.02 $0.00 $809.94 $145,571.29
78 $145,571.29 $1,514.02 $0.00 $823.08 $147,908.39
79 $147,908.39 $1,514.02 $0.00 $836.30 $150,258.71
80 $150,258.71 $1,514.02 $0.00 $849.58 $152,622.31
81 $152,622.31 $1,514.02 $0.00 $862.95 $154,999.28
82 $154,999.28 $1,514.02 $0.00 $876.39 $157,389.69
83 $157,389.69 $1,514.02 $0.00 $889.90 $159,793.61
84 $159,793.61 $1,514.02 $0.00 $903.50 $162,211.13
85 $162,211.13 $1,514.02 $0.00 $917.17 $164,642.32
86 $164,642.32 $1,514.02 $0.00 $930.91 $167,087.25
87 $167,087.25 $1,514.02 $0.00 $944.74 $169,546.01
88 $169,546.01 $1,514.02 $0.00 $958.64 $172,018.67
89 $172,018.67 $1,514.02 $0.00 $972.62 $174,505.31
90 $174,505.31 $1,514.02 $0.00 $986.68 $177,006.01
91 $177,006.01 $1,514.02 $0.00 $1,000.82 $179,520.85
92 $179,520.85 $1,514.02 $0.00 $1,015.04 $182,049.91
93 $182,049.91 $1,514.02 $0.00 $1,029.34 $184,593.27
94 $184,593.27 $1,514.02 $0.00 $1,043.72 $187,151.01
95 $187,151.01 $1,514.02 $0.00 $1,058.18 $189,723.21
96 $189,723.21 $1,514.02 $0.00 $1,072.72 $192,309.95
97 $192,309.95 $1,514.02 $0.00 $1,087.35 $194,911.32
98 $194,911.32 $1,514.02 $0.00 $1,102.06 $197,527.40
99 $197,527.40 $1,514.02 $0.00 $1,116.85 $200,158.27
100 $200,158.27 $1,514.02 $0.00 $1,131.72 $202,804.01
101 $202,804.01 $1,514.02 $0.00 $1,146.68 $205,464.71
102 $205,464.71 $1,514.02 $0.00 $1,161.73 $208,140.46
103 $208,140.46 $1,514.02 $0.00 $1,176.86 $210,831.34
104 $210,831.34 $1,514.02 $0.00 $1,192.07 $213,537.43
105 $213,537.43 $1,514.02 $0.00 $1,207.37 $216,258.82
106 $216,258.82 $1,514.02 $0.00 $1,222.76 $218,995.60
107 $218,995.60 $1,514.02 $0.00 $1,238.23 $221,747.85
108 $221,747.85 $1,514.02 $0.00 $1,253.79 $224,515.66
109 $224,515.66 $1,514.02 $0.00 $1,269.44 $227,299.12
110 $227,299.12 $1,514.02 $0.00 $1,285.18 $230,098.32
111 $230,098.32 $1,514.02 $0.00 $1,301.01 $232,913.35
112 $232,913.35 $1,514.02 $0.00 $1,316.93 $235,744.30
113 $235,744.30 $1,514.02 $0.00 $1,332.93 $238,591.25
114 $238,591.25 $1,514.02 $0.00 $1,349.03 $241,454.30
115 $241,454.30 $1,514.02 $0.00 $1,365.22 $244,333.54
116 $244,333.54 $1,514.02 $0.00 $1,381.50 $247,229.06
117 $247,229.06 $1,514.02 $0.00 $1,397.87 $250,140.95
118 $250,140.95 $1,514.02 $0.00 $1,414.33 $253,069.30
119 $253,069.30 $1,514.02 $0.00 $1,430.89 $256,014.21
120 $256,014.21 $1,514.02 $0.00 $1,447.54 $258,975.77
121 $258,975.77 $1,514.02 $0.00 $1,464.29 $261,954.08
122 $261,954.08 $1,514.02 $0.00 $1,481.13 $264,949.23
123 $264,949.23 $1,514.02 $0.00 $1,498.06 $267,961.31
124 $267,961.31 $1,514.02 $0.00 $1,515.09 $270,990.42
125 $270,990.42 $1,514.02 $0.00 $1,532.22 $274,036.66
126 $274,036.66 $1,514.02 $0.00 $1,549.44 $277,100.12
127 $277,100.12 $1,514.02 $0.00 $1,566.76 $280,180.90
128 $280,180.90 $1,514.02 $0.00 $1,584.18 $283,279.10
129 $283,279.10 $1,514.02 $0.00 $1,601.70 $286,394.82
130 $286,394.82 $1,514.02 $0.00 $1,619.32 $289,528.16
131 $289,528.16 $1,514.02 $0.00 $1,637.03 $292,679.21
132 $292,679.21 $1,514.02 $0.00 $1,654.85 $295,848.08
133 $295,848.08 $1,514.02 $0.00 $1,672.77 $299,034.87
134 $299,034.87 $1,514.02 $0.00 $1,690.79 $302,239.68
135 $302,239.68 $1,514.02 $0.00 $1,708.91 $305,462.61
136 $305,462.61 $1,514.02 $0.00 $1,727.13 $308,703.76
137 $308,703.76 $1,514.02 $0.00 $1,745.46 $311,963.24
138 $311,963.24 $1,514.02 $0.00 $1,763.89 $315,241.15
139 $315,241.15 $1,514.02 $0.00 $1,782.42 $318,537.59
140 $318,537.59 $1,514.02 $0.00 $1,801.06 $321,852.67
141 $321,852.67 $1,514.02 $0.00 $1,819.80 $325,186.49
142 $325,186.49 $1,514.02 $0.00 $1,838.65 $328,539.16
143 $328,539.16 $1,514.02 $0.00 $1,857.61 $331,910.79
144 $331,910.79 $1,514.02 $0.00 $1,876.67 $335,301.48
145 $335,301.48 $1,514.02 $0.00 $1,895.84 $338,711.34
146 $338,711.34 $1,514.02 $0.00 $1,915.12 $342,140.48
147 $342,140.48 $1,514.02 $0.00 $1,934.51 $345,589.01
148 $345,589.01 $1,514.02 $0.00 $1,954.01 $349,057.04
149 $349,057.04 $1,514.02 $0.00 $1,973.62 $352,544.68
150 $352,544.68 $1,514.02 $0.00 $1,993.34 $356,052.04
151 $356,052.04 $1,514.02 $0.00 $2,013.17 $359,579.23
152 $359,579.23 $1,514.02 $0.00 $2,033.11 $363,126.36
153 $363,126.36 $1,514.02 $0.00 $2,053.17 $366,693.55
154 $366,693.55 $1,514.02 $0.00 $2,073.34 $370,280.91
155 $370,280.91 $1,514.02 $0.00 $2,093.62 $373,888.55
156 $373,888.55 $1,514.02 $0.00 $2,114.02 $377,516.59
157 $377,516.59 $1,514.02 $0.00 $2,134.53 $381,165.14
158 $381,165.14 $1,514.02 $0.00 $2,155.16 $384,834.32
159 $384,834.32 $1,514.02 $0.00 $2,175.91 $388,524.25
160 $388,524.25 $1,514.02 $0.00 $2,196.77 $392,235.04
161 $392,235.04 $1,514.02 $0.00 $2,217.75 $395,966.81
162 $395,966.81 $1,514.02 $0.00 $2,238.85 $399,719.68
163 $399,719.68 $1,514.02 $0.00 $2,260.07 $403,493.77
164 $403,493.77 $1,514.02 $0.00 $2,281.41 $407,289.20
165 $407,289.20 $1,514.02 $0.00 $2,302.87 $411,106.09
166 $411,106.09 $1,514.02 $0.00 $2,324.45 $414,944.56
167 $414,944.56 $1,514.02 $0.00 $2,346.16 $418,804.74
168 $418,804.74 $1,514.02 $0.00 $2,367.98 $422,686.74
169 $422,686.74 $1,514.02 $0.00 $2,389.93 $426,590.69
170 $426,590.69 $1,514.02 $0.00 $2,412.01 $430,516.72
171 $430,516.72 $1,514.02 $0.00 $2,434.20 $434,464.94
172 $434,464.94 $1,514.02 $0.00 $2,456.53 $438,435.49
173 $438,435.49 $1,514.02 $0.00 $2,478.98 $442,428.49
174 $442,428.49 $1,514.02 $0.00 $2,501.56 $446,444.07
175 $446,444.07 $1,514.02 $0.00 $2,524.26 $450,482.35
176 $450,482.35 $1,514.02 $0.00 $2,547.09 $454,543.46
177 $454,543.46 $1,514.02 $0.00 $2,570.05 $458,627.53
178 $458,627.53 $1,514.02 $0.00 $2,593.15 $462,734.70
179 $462,734.70 $1,514.02 $0.00 $2,616.37 $466,865.09
180 $466,865.09 $1,514.02 $0.00 $2,639.72 $471,018.83
181 $471,018.83 $1,514.02 $0.00 $2,663.21 $475,196.06
182 $475,196.06 $1,514.02 $0.00 $2,686.83 $479,396.91
183 $479,396.91 $1,514.02 $0.00 $2,710.58 $483,621.51
184 $483,621.51 $1,514.02 $0.00 $2,734.47 $487,870.00
185 $487,870.00 $1,514.02 $0.00 $2,758.49 $492,142.51
186 $492,142.51 $1,514.02 $0.00 $2,782.65 $496,439.18
187 $496,439.18 $1,514.02 $0.00 $2,806.94 $500,760.14
188 $500,760.14 $1,514.02 $0.00 $2,831.37 $505,105.53
189 $505,105.53 $1,514.02 $0.00 $2,855.94 $509,475.49
190 $509,475.49 $1,514.02 $0.00 $2,880.65 $513,870.16
191 $513,870.16 $1,514.02 $0.00 $2,905.50 $518,289.68
192 $518,289.68 $1,514.02 $0.00 $2,930.49 $522,734.19
193 $522,734.19 $1,514.02 $0.00 $2,955.62 $527,203.83
194 $527,203.83 $1,514.02 $0.00 $2,980.89 $531,698.74
195 $531,698.74 $1,514.02 $0.00 $3,006.30 $536,219.06
196 $536,219.06 $1,514.02 $0.00 $3,031.86 $540,764.94
197 $540,764.94 $1,514.02 $0.00 $3,057.56 $545,336.52
198 $545,336.52 $1,514.02 $0.00 $3,083.41 $549,933.95
199 $549,933.95 $1,514.02 $0.00 $3,109.41 $554,557.38
200 $554,557.38 $1,514.02 $0.00 $3,135.55 $559,206.95
201 $559,206.95 $1,514.02 $0.00 $3,161.84 $563,882.81
202 $563,882.81 $1,514.02 $0.00 $3,188.28 $568,585.11
203 $568,585.11 $1,514.02 $0.00 $3,214.86 $573,313.99
204 $573,313.99 $1,514.02 $0.00 $3,241.60 $578,069.61
205 $578,069.61 $1,514.02 $0.00 $3,268.49 $582,852.12
206 $582,852.12 $1,514.02 $0.00 $3,295.53 $587,661.67
207 $587,661.67 $1,514.02 $0.00 $3,322.72 $592,498.41
208 $592,498.41 $1,514.02 $0.00 $3,350.07 $597,362.50
209 $597,362.50 $1,514.02 $0.00 $3,377.57 $602,254.09
210 $602,254.09 $1,514.02 $0.00 $3,405.23 $607,173.34
211 $607,173.34 $1,514.02 $0.00 $3,433.05 $612,120.41
212 $612,120.41 $1,514.02 $0.00 $3,461.02 $617,095.45
213 $617,095.45 $1,514.02 $0.00 $3,489.15 $622,098.62
214 $622,098.62 $1,514.02 $0.00 $3,517.44 $627,130.08
215 $627,130.08 $1,514.02 $0.00 $3,545.88 $632,189.98
216 $632,189.98 $1,514.02 $0.00 $3,574.49 $637,278.49
217 $637,278.49 $1,514.02 $177,502.61 $3,603.27 $464,893.17
218 $464,893.17 $1,514.02 $0.00 $2,628.57 $469,035.76
219 $469,035.76 $1,514.02 $0.00 $2,652.00 $473,201.78
220 $473,201.78 $1,514.02 $0.00 $2,675.55 $477,391.35
221 $477,391.35 $1,514.02 $0.00 $2,699.24 $481,604.61
222 $481,604.61 $1,514.02 $0.00 $2,723.06 $485,841.69
223 $485,841.69 $1,514.02 $0.00 $2,747.02 $490,102.73
224 $490,102.73 $1,514.02 $0.00 $2,771.11 $494,387.86
225 $494,387.86 $1,514.02 $0.00 $2,795.34 $498,697.22
226 $498,697.22 $1,514.02 $0.00 $2,819.71 $503,030.95
227 $503,030.95 $1,514.02 $0.00 $2,844.21 $507,389.18
228 $507,389.18 $1,514.02 $0.00 $2,868.85 $511,772.05
229 $511,772.05 $1,514.02 $186,377.74 $2,893.63 $329,801.96
230 $329,801.96 $1,514.02 $0.00 $1,864.75 $333,180.73
231 $333,180.73 $1,514.02 $0.00 $1,883.85 $336,578.60
232 $336,578.60 $1,514.02 $0.00 $1,903.06 $339,995.68
233 $339,995.68 $1,514.02 $0.00 $1,922.39 $343,432.09
234 $343,432.09 $1,514.02 $0.00 $1,941.81 $346,887.92
235 $346,887.92 $1,514.02 $0.00 $1,961.35 $350,363.29
236 $350,363.29 $1,514.02 $0.00 $1,981.00 $353,858.31
237 $353,858.31 $1,514.02 $0.00 $2,000.77 $357,373.10
238 $357,373.10 $1,514.02 $0.00 $2,020.64 $360,907.76
239 $360,907.76 $1,514.02 $0.00 $2,040.62 $364,462.40
240 $364,462.40 $1,514.02 $0.00 $2,060.72 $368,037.14
241 $368,037.14 $1,514.02 $195,696.63 $2,080.94 $175,935.47
242 $175,935.47 $1,514.02 $0.00 $994.76 $178,444.25
243 $178,444.25 $1,514.02 $0.00 $1,008.95 $180,967.22
244 $180,967.22 $1,514.02 $0.00 $1,023.21 $183,504.45
245 $183,504.45 $1,514.02 $0.00 $1,037.56 $186,056.03
246 $186,056.03 $1,514.02 $0.00 $1,051.99 $188,622.04
247 $188,622.04 $1,514.02 $0.00 $1,066.50 $191,202.56
248 $191,202.56 $1,514.02 $0.00 $1,081.09 $193,797.67
249 $193,797.67 $1,514.02 $0.00 $1,095.76 $196,407.45
250 $196,407.45 $1,514.02 $0.00 $1,110.52 $199,031.99
251 $199,031.99 $1,514.02 $0.00 $1,125.36 $201,671.37
252 $201,671.37 $1,514.02 $0.00 $1,140.28 $204,325.67
253 $204,325.67 $0.00 $205,481.46 $1,155.29 ($0.50)