Savings Plan and Future Cost Estimation for Covenant College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2039$128,156
Monthly savings required$1,014

How much will it cost to send your child to Covenant College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $512,625.24 for students enrolling in 2039 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,014.46 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$49,420.00
Years until enrollment18
Annual Tuition Increase5%
Current Savings$0.00
After Tax Return on Savings7%
Years of enrollment4

Current Savings Shortfall

College Savings Calculator

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Planned Savings Balance

College Savings Schedule

Month Begin Deposit Withdraw Interest End
1 $0.00 $1,014.46 $0.00 $0.00 $1,014.46
2 $1,014.46 $1,014.46 $0.00 $5.74 $2,034.66
3 $2,034.66 $1,014.46 $0.00 $11.50 $3,060.62
4 $3,060.62 $1,014.46 $0.00 $17.31 $4,092.39
5 $4,092.39 $1,014.46 $0.00 $23.14 $5,129.99
6 $5,129.99 $1,014.46 $0.00 $29.01 $6,173.46
7 $6,173.46 $1,014.46 $0.00 $34.91 $7,222.83
8 $7,222.83 $1,014.46 $0.00 $40.84 $8,278.13
9 $8,278.13 $1,014.46 $0.00 $46.81 $9,339.40
10 $9,339.40 $1,014.46 $0.00 $52.81 $10,406.67
11 $10,406.67 $1,014.46 $0.00 $58.84 $11,479.97
12 $11,479.97 $1,014.46 $0.00 $64.91 $12,559.34
13 $12,559.34 $1,014.46 $0.00 $71.01 $13,644.81
14 $13,644.81 $1,014.46 $0.00 $77.15 $14,736.42
15 $14,736.42 $1,014.46 $0.00 $83.32 $15,834.20
16 $15,834.20 $1,014.46 $0.00 $89.53 $16,938.19
17 $16,938.19 $1,014.46 $0.00 $95.77 $18,048.42
18 $18,048.42 $1,014.46 $0.00 $102.05 $19,164.93
19 $19,164.93 $1,014.46 $0.00 $108.36 $20,287.75
20 $20,287.75 $1,014.46 $0.00 $114.71 $21,416.92
21 $21,416.92 $1,014.46 $0.00 $121.09 $22,552.47
22 $22,552.47 $1,014.46 $0.00 $127.51 $23,694.44
23 $23,694.44 $1,014.46 $0.00 $133.97 $24,842.87
24 $24,842.87 $1,014.46 $0.00 $140.47 $25,997.80
25 $25,997.80 $1,014.46 $0.00 $147.00 $27,159.26
26 $27,159.26 $1,014.46 $0.00 $153.56 $28,327.28
27 $28,327.28 $1,014.46 $0.00 $160.17 $29,501.91
28 $29,501.91 $1,014.46 $0.00 $166.81 $30,683.18
29 $30,683.18 $1,014.46 $0.00 $173.49 $31,871.13
30 $31,871.13 $1,014.46 $0.00 $180.20 $33,065.79
31 $33,065.79 $1,014.46 $0.00 $186.96 $34,267.21
32 $34,267.21 $1,014.46 $0.00 $193.75 $35,475.42
33 $35,475.42 $1,014.46 $0.00 $200.58 $36,690.46
34 $36,690.46 $1,014.46 $0.00 $207.45 $37,912.37
35 $37,912.37 $1,014.46 $0.00 $214.36 $39,141.19
36 $39,141.19 $1,014.46 $0.00 $221.31 $40,376.96
37 $40,376.96 $1,014.46 $0.00 $228.30 $41,619.72
38 $41,619.72 $1,014.46 $0.00 $235.32 $42,869.50
39 $42,869.50 $1,014.46 $0.00 $242.39 $44,126.35
40 $44,126.35 $1,014.46 $0.00 $249.50 $45,390.31
41 $45,390.31 $1,014.46 $0.00 $256.64 $46,661.41
42 $46,661.41 $1,014.46 $0.00 $263.83 $47,939.70
43 $47,939.70 $1,014.46 $0.00 $271.06 $49,225.22
44 $49,225.22 $1,014.46 $0.00 $278.33 $50,518.01
45 $50,518.01 $1,014.46 $0.00 $285.64 $51,818.11
46 $51,818.11 $1,014.46 $0.00 $292.99 $53,125.56
47 $53,125.56 $1,014.46 $0.00 $300.38 $54,440.40
48 $54,440.40 $1,014.46 $0.00 $307.81 $55,762.67
49 $55,762.67 $1,014.46 $0.00 $315.29 $57,092.42
50 $57,092.42 $1,014.46 $0.00 $322.81 $58,429.69
51 $58,429.69 $1,014.46 $0.00 $330.37 $59,774.52
52 $59,774.52 $1,014.46 $0.00 $337.97 $61,126.95
53 $61,126.95 $1,014.46 $0.00 $345.62 $62,487.03
54 $62,487.03 $1,014.46 $0.00 $353.31 $63,854.80
55 $63,854.80 $1,014.46 $0.00 $361.04 $65,230.30
56 $65,230.30 $1,014.46 $0.00 $368.82 $66,613.58
57 $66,613.58 $1,014.46 $0.00 $376.64 $68,004.68
58 $68,004.68 $1,014.46 $0.00 $384.51 $69,403.65
59 $69,403.65 $1,014.46 $0.00 $392.42 $70,810.53
60 $70,810.53 $1,014.46 $0.00 $400.37 $72,225.36
61 $72,225.36 $1,014.46 $0.00 $408.37 $73,648.19
62 $73,648.19 $1,014.46 $0.00 $416.42 $75,079.07
63 $75,079.07 $1,014.46 $0.00 $424.51 $76,518.04
64 $76,518.04 $1,014.46 $0.00 $432.64 $77,965.14
65 $77,965.14 $1,014.46 $0.00 $440.83 $79,420.43
66 $79,420.43 $1,014.46 $0.00 $449.05 $80,883.94
67 $80,883.94 $1,014.46 $0.00 $457.33 $82,355.73
68 $82,355.73 $1,014.46 $0.00 $465.65 $83,835.84
69 $83,835.84 $1,014.46 $0.00 $474.02 $85,324.32
70 $85,324.32 $1,014.46 $0.00 $482.44 $86,821.22
71 $86,821.22 $1,014.46 $0.00 $490.90 $88,326.58
72 $88,326.58 $1,014.46 $0.00 $499.41 $89,840.45
73 $89,840.45 $1,014.46 $0.00 $507.97 $91,362.88
74 $91,362.88 $1,014.46 $0.00 $516.58 $92,893.92
75 $92,893.92 $1,014.46 $0.00 $525.24 $94,433.62
76 $94,433.62 $1,014.46 $0.00 $533.94 $95,982.02
77 $95,982.02 $1,014.46 $0.00 $542.70 $97,539.18
78 $97,539.18 $1,014.46 $0.00 $551.50 $99,105.14
79 $99,105.14 $1,014.46 $0.00 $560.35 $100,679.95
80 $100,679.95 $1,014.46 $0.00 $569.26 $102,263.67
81 $102,263.67 $1,014.46 $0.00 $578.21 $103,856.34
82 $103,856.34 $1,014.46 $0.00 $587.22 $105,458.02
83 $105,458.02 $1,014.46 $0.00 $596.27 $107,068.75
84 $107,068.75 $1,014.46 $0.00 $605.38 $108,688.59
85 $108,688.59 $1,014.46 $0.00 $614.54 $110,317.59
86 $110,317.59 $1,014.46 $0.00 $623.75 $111,955.80
87 $111,955.80 $1,014.46 $0.00 $633.01 $113,603.27
88 $113,603.27 $1,014.46 $0.00 $642.33 $115,260.06
89 $115,260.06 $1,014.46 $0.00 $651.70 $116,926.22
90 $116,926.22 $1,014.46 $0.00 $661.12 $118,601.80
91 $118,601.80 $1,014.46 $0.00 $670.59 $120,286.85
92 $120,286.85 $1,014.46 $0.00 $680.12 $121,981.43
93 $121,981.43 $1,014.46 $0.00 $689.70 $123,685.59
94 $123,685.59 $1,014.46 $0.00 $699.34 $125,399.39
95 $125,399.39 $1,014.46 $0.00 $709.03 $127,122.88
96 $127,122.88 $1,014.46 $0.00 $718.77 $128,856.11
97 $128,856.11 $1,014.46 $0.00 $728.57 $130,599.14
98 $130,599.14 $1,014.46 $0.00 $738.43 $132,352.03
99 $132,352.03 $1,014.46 $0.00 $748.34 $134,114.83
100 $134,114.83 $1,014.46 $0.00 $758.30 $135,887.59
101 $135,887.59 $1,014.46 $0.00 $768.33 $137,670.38
102 $137,670.38 $1,014.46 $0.00 $778.41 $139,463.25
103 $139,463.25 $1,014.46 $0.00 $788.55 $141,266.26
104 $141,266.26 $1,014.46 $0.00 $798.74 $143,079.46
105 $143,079.46 $1,014.46 $0.00 $808.99 $144,902.91
106 $144,902.91 $1,014.46 $0.00 $819.30 $146,736.67
107 $146,736.67 $1,014.46 $0.00 $829.67 $148,580.80
108 $148,580.80 $1,014.46 $0.00 $840.10 $150,435.36
109 $150,435.36 $1,014.46 $0.00 $850.58 $152,300.40
110 $152,300.40 $1,014.46 $0.00 $861.13 $154,175.99
111 $154,175.99 $1,014.46 $0.00 $871.73 $156,062.18
112 $156,062.18 $1,014.46 $0.00 $882.40 $157,959.04
113 $157,959.04 $1,014.46 $0.00 $893.12 $159,866.62
114 $159,866.62 $1,014.46 $0.00 $903.91 $161,784.99
115 $161,784.99 $1,014.46 $0.00 $914.76 $163,714.21
116 $163,714.21 $1,014.46 $0.00 $925.66 $165,654.33
117 $165,654.33 $1,014.46 $0.00 $936.63 $167,605.42
118 $167,605.42 $1,014.46 $0.00 $947.67 $169,567.55
119 $169,567.55 $1,014.46 $0.00 $958.76 $171,540.77
120 $171,540.77 $1,014.46 $0.00 $969.92 $173,525.15
121 $173,525.15 $1,014.46 $0.00 $981.14 $175,520.75
122 $175,520.75 $1,014.46 $0.00 $992.42 $177,527.63
123 $177,527.63 $1,014.46 $0.00 $1,003.77 $179,545.86
124 $179,545.86 $1,014.46 $0.00 $1,015.18 $181,575.50
125 $181,575.50 $1,014.46 $0.00 $1,026.65 $183,616.61
126 $183,616.61 $1,014.46 $0.00 $1,038.20 $185,669.27
127 $185,669.27 $1,014.46 $0.00 $1,049.80 $187,733.53
128 $187,733.53 $1,014.46 $0.00 $1,061.47 $189,809.46
129 $189,809.46 $1,014.46 $0.00 $1,073.21 $191,897.13
130 $191,897.13 $1,014.46 $0.00 $1,085.01 $193,996.60
131 $193,996.60 $1,014.46 $0.00 $1,096.88 $196,107.94
132 $196,107.94 $1,014.46 $0.00 $1,108.82 $198,231.22
133 $198,231.22 $1,014.46 $0.00 $1,120.83 $200,366.51
134 $200,366.51 $1,014.46 $0.00 $1,132.90 $202,513.87
135 $202,513.87 $1,014.46 $0.00 $1,145.04 $204,673.37
136 $204,673.37 $1,014.46 $0.00 $1,157.25 $206,845.08
137 $206,845.08 $1,014.46 $0.00 $1,169.53 $209,029.07
138 $209,029.07 $1,014.46 $0.00 $1,181.88 $211,225.41
139 $211,225.41 $1,014.46 $0.00 $1,194.30 $213,434.17
140 $213,434.17 $1,014.46 $0.00 $1,206.79 $215,655.42
141 $215,655.42 $1,014.46 $0.00 $1,219.35 $217,889.23
142 $217,889.23 $1,014.46 $0.00 $1,231.98 $220,135.67
143 $220,135.67 $1,014.46 $0.00 $1,244.68 $222,394.81
144 $222,394.81 $1,014.46 $0.00 $1,257.45 $224,666.72
145 $224,666.72 $1,014.46 $0.00 $1,270.30 $226,951.48
146 $226,951.48 $1,014.46 $0.00 $1,283.22 $229,249.16
147 $229,249.16 $1,014.46 $0.00 $1,296.21 $231,559.83
148 $231,559.83 $1,014.46 $0.00 $1,309.27 $233,883.56
149 $233,883.56 $1,014.46 $0.00 $1,322.41 $236,220.43
150 $236,220.43 $1,014.46 $0.00 $1,335.62 $238,570.51
151 $238,570.51 $1,014.46 $0.00 $1,348.91 $240,933.88
152 $240,933.88 $1,014.46 $0.00 $1,362.28 $243,310.62
153 $243,310.62 $1,014.46 $0.00 $1,375.71 $245,700.79
154 $245,700.79 $1,014.46 $0.00 $1,389.23 $248,104.48
155 $248,104.48 $1,014.46 $0.00 $1,402.82 $250,521.76
156 $250,521.76 $1,014.46 $0.00 $1,416.49 $252,952.71
157 $252,952.71 $1,014.46 $0.00 $1,430.23 $255,397.40
158 $255,397.40 $1,014.46 $0.00 $1,444.05 $257,855.91
159 $257,855.91 $1,014.46 $0.00 $1,457.95 $260,328.32
160 $260,328.32 $1,014.46 $0.00 $1,471.93 $262,814.71
161 $262,814.71 $1,014.46 $0.00 $1,485.99 $265,315.16
162 $265,315.16 $1,014.46 $0.00 $1,500.13 $267,829.75
163 $267,829.75 $1,014.46 $0.00 $1,514.35 $270,358.56
164 $270,358.56 $1,014.46 $0.00 $1,528.65 $272,901.67
165 $272,901.67 $1,014.46 $0.00 $1,543.03 $275,459.16
166 $275,459.16 $1,014.46 $0.00 $1,557.49 $278,031.11
167 $278,031.11 $1,014.46 $0.00 $1,572.03 $280,617.60
168 $280,617.60 $1,014.46 $0.00 $1,586.65 $283,218.71
169 $283,218.71 $1,014.46 $0.00 $1,601.36 $285,834.53
170 $285,834.53 $1,014.46 $0.00 $1,616.15 $288,465.14
171 $288,465.14 $1,014.46 $0.00 $1,631.02 $291,110.62
172 $291,110.62 $1,014.46 $0.00 $1,645.98 $293,771.06
173 $293,771.06 $1,014.46 $0.00 $1,661.02 $296,446.54
174 $296,446.54 $1,014.46 $0.00 $1,676.15 $299,137.15
175 $299,137.15 $1,014.46 $0.00 $1,691.36 $301,842.97
176 $301,842.97 $1,014.46 $0.00 $1,706.66 $304,564.09
177 $304,564.09 $1,014.46 $0.00 $1,722.05 $307,300.60
178 $307,300.60 $1,014.46 $0.00 $1,737.52 $310,052.58
179 $310,052.58 $1,014.46 $0.00 $1,753.08 $312,820.12
180 $312,820.12 $1,014.46 $0.00 $1,768.73 $315,603.31
181 $315,603.31 $1,014.46 $0.00 $1,784.47 $318,402.24
182 $318,402.24 $1,014.46 $0.00 $1,800.29 $321,216.99
183 $321,216.99 $1,014.46 $0.00 $1,816.21 $324,047.66
184 $324,047.66 $1,014.46 $0.00 $1,832.21 $326,894.33
185 $326,894.33 $1,014.46 $0.00 $1,848.31 $329,757.10
186 $329,757.10 $1,014.46 $0.00 $1,864.49 $332,636.05
187 $332,636.05 $1,014.46 $0.00 $1,880.77 $335,531.28
188 $335,531.28 $1,014.46 $0.00 $1,897.14 $338,442.88
189 $338,442.88 $1,014.46 $0.00 $1,913.61 $341,370.95
190 $341,370.95 $1,014.46 $0.00 $1,930.16 $344,315.57
191 $344,315.57 $1,014.46 $0.00 $1,946.81 $347,276.84
192 $347,276.84 $1,014.46 $0.00 $1,963.55 $350,254.85
193 $350,254.85 $1,014.46 $0.00 $1,980.39 $353,249.70
194 $353,249.70 $1,014.46 $0.00 $1,997.33 $356,261.49
195 $356,261.49 $1,014.46 $0.00 $2,014.35 $359,290.30
196 $359,290.30 $1,014.46 $0.00 $2,031.48 $362,336.24
197 $362,336.24 $1,014.46 $0.00 $2,048.70 $365,399.40
198 $365,399.40 $1,014.46 $0.00 $2,066.02 $368,479.88
199 $368,479.88 $1,014.46 $0.00 $2,083.44 $371,577.78
200 $371,577.78 $1,014.46 $0.00 $2,100.95 $374,693.19
201 $374,693.19 $1,014.46 $0.00 $2,118.57 $377,826.22
202 $377,826.22 $1,014.46 $0.00 $2,136.28 $380,976.96
203 $380,976.96 $1,014.46 $0.00 $2,154.10 $384,145.52
204 $384,145.52 $1,014.46 $0.00 $2,172.01 $387,331.99
205 $387,331.99 $1,014.46 $0.00 $2,190.03 $390,536.48
206 $390,536.48 $1,014.46 $0.00 $2,208.15 $393,759.09
207 $393,759.09 $1,014.46 $0.00 $2,226.37 $396,999.92
208 $396,999.92 $1,014.46 $0.00 $2,244.70 $400,259.08
209 $400,259.08 $1,014.46 $0.00 $2,263.12 $403,536.66
210 $403,536.66 $1,014.46 $0.00 $2,281.65 $406,832.77
211 $406,832.77 $1,014.46 $0.00 $2,300.29 $410,147.52
212 $410,147.52 $1,014.46 $0.00 $2,319.03 $413,481.01
213 $413,481.01 $1,014.46 $0.00 $2,337.88 $416,833.35
214 $416,833.35 $1,014.46 $0.00 $2,356.84 $420,204.65
215 $420,204.65 $1,014.46 $0.00 $2,375.90 $423,595.01
216 $423,595.01 $1,014.46 $0.00 $2,395.07 $427,004.54
217 $427,004.54 $1,014.46 $118,935.12 $2,414.35 $311,498.23
218 $311,498.23 $1,014.46 $0.00 $1,761.26 $314,273.95
219 $314,273.95 $1,014.46 $0.00 $1,776.95 $317,065.36
220 $317,065.36 $1,014.46 $0.00 $1,792.73 $319,872.55
221 $319,872.55 $1,014.46 $0.00 $1,808.61 $322,695.62
222 $322,695.62 $1,014.46 $0.00 $1,824.57 $325,534.65
223 $325,534.65 $1,014.46 $0.00 $1,840.62 $328,389.73
224 $328,389.73 $1,014.46 $0.00 $1,856.76 $331,260.95
225 $331,260.95 $1,014.46 $0.00 $1,873.00 $334,148.41
226 $334,148.41 $1,014.46 $0.00 $1,889.32 $337,052.19
227 $337,052.19 $1,014.46 $0.00 $1,905.74 $339,972.39
228 $339,972.39 $1,014.46 $0.00 $1,922.25 $342,909.10
229 $342,909.10 $1,014.46 $124,881.88 $1,938.86 $220,980.54
230 $220,980.54 $1,014.46 $0.00 $1,249.46 $223,244.46
231 $223,244.46 $1,014.46 $0.00 $1,262.26 $225,521.18
232 $225,521.18 $1,014.46 $0.00 $1,275.13 $227,810.77
233 $227,810.77 $1,014.46 $0.00 $1,288.08 $230,113.31
234 $230,113.31 $1,014.46 $0.00 $1,301.09 $232,428.86
235 $232,428.86 $1,014.46 $0.00 $1,314.19 $234,757.51
236 $234,757.51 $1,014.46 $0.00 $1,327.35 $237,099.32
237 $237,099.32 $1,014.46 $0.00 $1,340.59 $239,454.37
238 $239,454.37 $1,014.46 $0.00 $1,353.91 $241,822.74
239 $241,822.74 $1,014.46 $0.00 $1,367.30 $244,204.50
240 $244,204.50 $1,014.46 $0.00 $1,380.77 $246,599.73
241 $246,599.73 $1,014.46 $131,125.97 $1,394.31 $117,882.53
242 $117,882.53 $1,014.46 $0.00 $666.52 $119,563.51
243 $119,563.51 $1,014.46 $0.00 $676.03 $121,254.00
244 $121,254.00 $1,014.46 $0.00 $685.59 $122,954.05
245 $122,954.05 $1,014.46 $0.00 $695.20 $124,663.71
246 $124,663.71 $1,014.46 $0.00 $704.87 $126,383.04
247 $126,383.04 $1,014.46 $0.00 $714.59 $128,112.09
248 $128,112.09 $1,014.46 $0.00 $724.36 $129,850.91
249 $129,850.91 $1,014.46 $0.00 $734.20 $131,599.57
250 $131,599.57 $1,014.46 $0.00 $744.08 $133,358.11
251 $133,358.11 $1,014.46 $0.00 $754.03 $135,126.60
252 $135,126.60 $1,014.46 $0.00 $764.03 $136,905.09
253 $136,905.09 $0.00 $137,682.27 $774.08 ($3.10)