Savings Plan and Future Cost Estimation for Wesleyan College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$154,366
Monthly savings required$1,220

How much will it cost to send your child to Wesleyan College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $617,465.95 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,219.99 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$41,146.00
Years until enrollment18
Annual Tuition Increase7%
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 $1,219.99 $0.00 $0.00 $1,219.99
2 $1,219.99 $1,219.99 $0.00 $6.90 $2,446.88
3 $2,446.88 $1,219.99 $0.00 $13.84 $3,680.71
4 $3,680.71 $1,219.99 $0.00 $20.81 $4,921.51
5 $4,921.51 $1,219.99 $0.00 $27.83 $6,169.33
6 $6,169.33 $1,219.99 $0.00 $34.88 $7,424.20
7 $7,424.20 $1,219.99 $0.00 $41.98 $8,686.17
8 $8,686.17 $1,219.99 $0.00 $49.11 $9,955.27
9 $9,955.27 $1,219.99 $0.00 $56.29 $11,231.55
10 $11,231.55 $1,219.99 $0.00 $63.50 $12,515.04
11 $12,515.04 $1,219.99 $0.00 $70.76 $13,805.79
12 $13,805.79 $1,219.99 $0.00 $78.06 $15,103.84
13 $15,103.84 $1,219.99 $0.00 $85.40 $16,409.23
14 $16,409.23 $1,219.99 $0.00 $92.78 $17,722.00
15 $17,722.00 $1,219.99 $0.00 $100.20 $19,042.19
16 $19,042.19 $1,219.99 $0.00 $107.67 $20,369.85
17 $20,369.85 $1,219.99 $0.00 $115.17 $21,705.01
18 $21,705.01 $1,219.99 $0.00 $122.72 $23,047.72
19 $23,047.72 $1,219.99 $0.00 $130.32 $24,398.03
20 $24,398.03 $1,219.99 $0.00 $137.95 $25,755.97
21 $25,755.97 $1,219.99 $0.00 $145.63 $27,121.59
22 $27,121.59 $1,219.99 $0.00 $153.35 $28,494.93
23 $28,494.93 $1,219.99 $0.00 $161.11 $29,876.03
24 $29,876.03 $1,219.99 $0.00 $168.92 $31,264.94
25 $31,264.94 $1,219.99 $0.00 $176.78 $32,661.71
26 $32,661.71 $1,219.99 $0.00 $184.67 $34,066.37
27 $34,066.37 $1,219.99 $0.00 $192.62 $35,478.98
28 $35,478.98 $1,219.99 $0.00 $200.60 $36,899.57
29 $36,899.57 $1,219.99 $0.00 $208.64 $38,328.20
30 $38,328.20 $1,219.99 $0.00 $216.71 $39,764.90
31 $39,764.90 $1,219.99 $0.00 $224.84 $41,209.73
32 $41,209.73 $1,219.99 $0.00 $233.01 $42,662.73
33 $42,662.73 $1,219.99 $0.00 $241.22 $44,123.94
34 $44,123.94 $1,219.99 $0.00 $249.48 $45,593.41
35 $45,593.41 $1,219.99 $0.00 $257.79 $47,071.19
36 $47,071.19 $1,219.99 $0.00 $266.15 $48,557.33
37 $48,557.33 $1,219.99 $0.00 $274.55 $50,051.87
38 $50,051.87 $1,219.99 $0.00 $283.00 $51,554.86
39 $51,554.86 $1,219.99 $0.00 $291.50 $53,066.35
40 $53,066.35 $1,219.99 $0.00 $300.04 $54,586.38
41 $54,586.38 $1,219.99 $0.00 $308.64 $56,115.01
42 $56,115.01 $1,219.99 $0.00 $317.28 $57,652.28
43 $57,652.28 $1,219.99 $0.00 $325.97 $59,198.24
44 $59,198.24 $1,219.99 $0.00 $334.72 $60,752.95
45 $60,752.95 $1,219.99 $0.00 $343.51 $62,316.45
46 $62,316.45 $1,219.99 $0.00 $352.35 $63,888.79
47 $63,888.79 $1,219.99 $0.00 $361.24 $65,470.02
48 $65,470.02 $1,219.99 $0.00 $370.18 $67,060.19
49 $67,060.19 $1,219.99 $0.00 $379.17 $68,659.35
50 $68,659.35 $1,219.99 $0.00 $388.21 $70,267.55
51 $70,267.55 $1,219.99 $0.00 $397.30 $71,884.84
52 $71,884.84 $1,219.99 $0.00 $406.45 $73,511.28
53 $73,511.28 $1,219.99 $0.00 $415.64 $75,146.91
54 $75,146.91 $1,219.99 $0.00 $424.89 $76,791.79
55 $76,791.79 $1,219.99 $0.00 $434.19 $78,445.97
56 $78,445.97 $1,219.99 $0.00 $443.54 $80,109.50
57 $80,109.50 $1,219.99 $0.00 $452.95 $81,782.44
58 $81,782.44 $1,219.99 $0.00 $462.41 $83,464.84
59 $83,464.84 $1,219.99 $0.00 $471.92 $85,156.75
60 $85,156.75 $1,219.99 $0.00 $481.49 $86,858.23
61 $86,858.23 $1,219.99 $0.00 $491.11 $88,569.33
62 $88,569.33 $1,219.99 $0.00 $500.78 $90,290.10
63 $90,290.10 $1,219.99 $0.00 $510.51 $92,020.60
64 $92,020.60 $1,219.99 $0.00 $520.30 $93,760.89
65 $93,760.89 $1,219.99 $0.00 $530.14 $95,511.02
66 $95,511.02 $1,219.99 $0.00 $540.03 $97,271.04
67 $97,271.04 $1,219.99 $0.00 $549.98 $99,041.01
68 $99,041.01 $1,219.99 $0.00 $559.99 $100,820.99
69 $100,820.99 $1,219.99 $0.00 $570.06 $102,611.04
70 $102,611.04 $1,219.99 $0.00 $580.18 $104,411.21
71 $104,411.21 $1,219.99 $0.00 $590.36 $106,221.56
72 $106,221.56 $1,219.99 $0.00 $600.59 $108,042.14
73 $108,042.14 $1,219.99 $0.00 $610.89 $109,873.02
74 $109,873.02 $1,219.99 $0.00 $621.24 $111,714.25
75 $111,714.25 $1,219.99 $0.00 $631.65 $113,565.89
76 $113,565.89 $1,219.99 $0.00 $642.12 $115,428.00
77 $115,428.00 $1,219.99 $0.00 $652.65 $117,300.64
78 $117,300.64 $1,219.99 $0.00 $663.23 $119,183.86
79 $119,183.86 $1,219.99 $0.00 $673.88 $121,077.73
80 $121,077.73 $1,219.99 $0.00 $684.59 $122,982.31
81 $122,982.31 $1,219.99 $0.00 $695.36 $124,897.66
82 $124,897.66 $1,219.99 $0.00 $706.19 $126,823.84
83 $126,823.84 $1,219.99 $0.00 $717.08 $128,760.91
84 $128,760.91 $1,219.99 $0.00 $728.03 $130,708.93
85 $130,708.93 $1,219.99 $0.00 $739.05 $132,667.97
86 $132,667.97 $1,219.99 $0.00 $750.12 $134,638.08
87 $134,638.08 $1,219.99 $0.00 $761.26 $136,619.33
88 $136,619.33 $1,219.99 $0.00 $772.47 $138,611.79
89 $138,611.79 $1,219.99 $0.00 $783.73 $140,615.51
90 $140,615.51 $1,219.99 $0.00 $795.06 $142,630.56
91 $142,630.56 $1,219.99 $0.00 $806.45 $144,657.00
92 $144,657.00 $1,219.99 $0.00 $817.91 $146,694.90
93 $146,694.90 $1,219.99 $0.00 $829.43 $148,744.32
94 $148,744.32 $1,219.99 $0.00 $841.02 $150,805.33
95 $150,805.33 $1,219.99 $0.00 $852.68 $152,878.00
96 $152,878.00 $1,219.99 $0.00 $864.39 $154,962.38
97 $154,962.38 $1,219.99 $0.00 $876.18 $157,058.55
98 $157,058.55 $1,219.99 $0.00 $888.03 $159,166.57
99 $159,166.57 $1,219.99 $0.00 $899.95 $161,286.51
100 $161,286.51 $1,219.99 $0.00 $911.94 $163,418.44
101 $163,418.44 $1,219.99 $0.00 $923.99 $165,562.42
102 $165,562.42 $1,219.99 $0.00 $936.11 $167,718.52
103 $167,718.52 $1,219.99 $0.00 $948.30 $169,886.81
104 $169,886.81 $1,219.99 $0.00 $960.56 $172,067.36
105 $172,067.36 $1,219.99 $0.00 $972.89 $174,260.24
106 $174,260.24 $1,219.99 $0.00 $985.29 $176,465.52
107 $176,465.52 $1,219.99 $0.00 $997.76 $178,683.27
108 $178,683.27 $1,219.99 $0.00 $1,010.30 $180,913.56
109 $180,913.56 $1,219.99 $0.00 $1,022.91 $183,156.46
110 $183,156.46 $1,219.99 $0.00 $1,035.59 $185,412.04
111 $185,412.04 $1,219.99 $0.00 $1,048.35 $187,680.38
112 $187,680.38 $1,219.99 $0.00 $1,061.17 $189,961.54
113 $189,961.54 $1,219.99 $0.00 $1,074.07 $192,255.60
114 $192,255.60 $1,219.99 $0.00 $1,087.04 $194,562.63
115 $194,562.63 $1,219.99 $0.00 $1,100.09 $196,882.71
116 $196,882.71 $1,219.99 $0.00 $1,113.20 $199,215.90
117 $199,215.90 $1,219.99 $0.00 $1,126.40 $201,562.29
118 $201,562.29 $1,219.99 $0.00 $1,139.66 $203,921.94
119 $203,921.94 $1,219.99 $0.00 $1,153.00 $206,294.93
120 $206,294.93 $1,219.99 $0.00 $1,166.42 $208,681.34
121 $208,681.34 $1,219.99 $0.00 $1,179.91 $211,081.24
122 $211,081.24 $1,219.99 $0.00 $1,193.48 $213,494.71
123 $213,494.71 $1,219.99 $0.00 $1,207.13 $215,921.83
124 $215,921.83 $1,219.99 $0.00 $1,220.85 $218,362.67
125 $218,362.67 $1,219.99 $0.00 $1,234.65 $220,817.31
126 $220,817.31 $1,219.99 $0.00 $1,248.53 $223,285.83
127 $223,285.83 $1,219.99 $0.00 $1,262.49 $225,768.31
128 $225,768.31 $1,219.99 $0.00 $1,276.53 $228,264.83
129 $228,264.83 $1,219.99 $0.00 $1,290.64 $230,775.46
130 $230,775.46 $1,219.99 $0.00 $1,304.84 $233,300.29
131 $233,300.29 $1,219.99 $0.00 $1,319.11 $235,839.39
132 $235,839.39 $1,219.99 $0.00 $1,333.47 $238,392.85
133 $238,392.85 $1,219.99 $0.00 $1,347.91 $240,960.75
134 $240,960.75 $1,219.99 $0.00 $1,362.43 $243,543.17
135 $243,543.17 $1,219.99 $0.00 $1,377.03 $246,140.19
136 $246,140.19 $1,219.99 $0.00 $1,391.71 $248,751.89
137 $248,751.89 $1,219.99 $0.00 $1,406.48 $251,378.36
138 $251,378.36 $1,219.99 $0.00 $1,421.33 $254,019.68
139 $254,019.68 $1,219.99 $0.00 $1,436.26 $256,675.93
140 $256,675.93 $1,219.99 $0.00 $1,451.28 $259,347.20
141 $259,347.20 $1,219.99 $0.00 $1,466.39 $262,033.58
142 $262,033.58 $1,219.99 $0.00 $1,481.58 $264,735.15
143 $264,735.15 $1,219.99 $0.00 $1,496.85 $267,451.99
144 $267,451.99 $1,219.99 $0.00 $1,512.21 $270,184.19
145 $270,184.19 $1,219.99 $0.00 $1,527.66 $272,931.84
146 $272,931.84 $1,219.99 $0.00 $1,543.20 $275,695.03
147 $275,695.03 $1,219.99 $0.00 $1,558.82 $278,473.84
148 $278,473.84 $1,219.99 $0.00 $1,574.53 $281,268.36
149 $281,268.36 $1,219.99 $0.00 $1,590.33 $284,078.68
150 $284,078.68 $1,219.99 $0.00 $1,606.22 $286,904.89
151 $286,904.89 $1,219.99 $0.00 $1,622.20 $289,747.08
152 $289,747.08 $1,219.99 $0.00 $1,638.27 $292,605.34
153 $292,605.34 $1,219.99 $0.00 $1,654.43 $295,479.76
154 $295,479.76 $1,219.99 $0.00 $1,670.69 $298,370.44
155 $298,370.44 $1,219.99 $0.00 $1,687.03 $301,277.46
156 $301,277.46 $1,219.99 $0.00 $1,703.47 $304,200.92
157 $304,200.92 $1,219.99 $0.00 $1,720.00 $307,140.91
158 $307,140.91 $1,219.99 $0.00 $1,736.62 $310,097.52
159 $310,097.52 $1,219.99 $0.00 $1,753.34 $313,070.85
160 $313,070.85 $1,219.99 $0.00 $1,770.15 $316,060.99
161 $316,060.99 $1,219.99 $0.00 $1,787.05 $319,068.03
162 $319,068.03 $1,219.99 $0.00 $1,804.06 $322,092.08
163 $322,092.08 $1,219.99 $0.00 $1,821.16 $325,133.23
164 $325,133.23 $1,219.99 $0.00 $1,838.35 $328,191.57
165 $328,191.57 $1,219.99 $0.00 $1,855.64 $331,267.20
166 $331,267.20 $1,219.99 $0.00 $1,873.03 $334,360.22
167 $334,360.22 $1,219.99 $0.00 $1,890.52 $337,470.73
168 $337,470.73 $1,219.99 $0.00 $1,908.11 $340,598.83
169 $340,598.83 $1,219.99 $0.00 $1,925.80 $343,744.62
170 $343,744.62 $1,219.99 $0.00 $1,943.58 $346,908.19
171 $346,908.19 $1,219.99 $0.00 $1,961.47 $350,089.65
172 $350,089.65 $1,219.99 $0.00 $1,979.46 $353,289.10
173 $353,289.10 $1,219.99 $0.00 $1,997.55 $356,506.64
174 $356,506.64 $1,219.99 $0.00 $2,015.74 $359,742.37
175 $359,742.37 $1,219.99 $0.00 $2,034.04 $362,996.40
176 $362,996.40 $1,219.99 $0.00 $2,052.43 $366,268.82
177 $366,268.82 $1,219.99 $0.00 $2,070.94 $369,559.75
178 $369,559.75 $1,219.99 $0.00 $2,089.54 $372,869.28
179 $372,869.28 $1,219.99 $0.00 $2,108.26 $376,197.53
180 $376,197.53 $1,219.99 $0.00 $2,127.08 $379,544.60
181 $379,544.60 $1,219.99 $0.00 $2,146.00 $382,910.59
182 $382,910.59 $1,219.99 $0.00 $2,165.03 $386,295.61
183 $386,295.61 $1,219.99 $0.00 $2,184.17 $389,699.77
184 $389,699.77 $1,219.99 $0.00 $2,203.42 $393,123.18
185 $393,123.18 $1,219.99 $0.00 $2,222.78 $396,565.95
186 $396,565.95 $1,219.99 $0.00 $2,242.24 $400,028.18
187 $400,028.18 $1,219.99 $0.00 $2,261.82 $403,509.99
188 $403,509.99 $1,219.99 $0.00 $2,281.50 $407,011.48
189 $407,011.48 $1,219.99 $0.00 $2,301.30 $410,532.77
190 $410,532.77 $1,219.99 $0.00 $2,321.21 $414,073.97
191 $414,073.97 $1,219.99 $0.00 $2,341.23 $417,635.19
192 $417,635.19 $1,219.99 $0.00 $2,361.37 $421,216.55
193 $421,216.55 $1,219.99 $0.00 $2,381.62 $424,818.16
194 $424,818.16 $1,219.99 $0.00 $2,401.98 $428,440.13
195 $428,440.13 $1,219.99 $0.00 $2,422.46 $432,082.58
196 $432,082.58 $1,219.99 $0.00 $2,443.06 $435,745.63
197 $435,745.63 $1,219.99 $0.00 $2,463.77 $439,429.39
198 $439,429.39 $1,219.99 $0.00 $2,484.60 $443,133.98
199 $443,133.98 $1,219.99 $0.00 $2,505.54 $446,859.51
200 $446,859.51 $1,219.99 $0.00 $2,526.61 $450,606.11
201 $450,606.11 $1,219.99 $0.00 $2,547.79 $454,373.89
202 $454,373.89 $1,219.99 $0.00 $2,569.10 $458,162.98
203 $458,162.98 $1,219.99 $0.00 $2,590.52 $461,973.49
204 $461,973.49 $1,219.99 $0.00 $2,612.07 $465,805.55
205 $465,805.55 $1,219.99 $0.00 $2,633.73 $469,659.27
206 $469,659.27 $1,219.99 $0.00 $2,655.52 $473,534.78
207 $473,534.78 $1,219.99 $0.00 $2,677.43 $477,432.20
208 $477,432.20 $1,219.99 $0.00 $2,699.47 $481,351.66
209 $481,351.66 $1,219.99 $0.00 $2,721.63 $485,293.28
210 $485,293.28 $1,219.99 $0.00 $2,743.92 $489,257.19
211 $489,257.19 $1,219.99 $0.00 $2,766.33 $493,243.51
212 $493,243.51 $1,219.99 $0.00 $2,788.87 $497,252.37
213 $497,252.37 $1,219.99 $0.00 $2,811.54 $501,283.90
214 $501,283.90 $1,219.99 $0.00 $2,834.33 $505,338.22
215 $505,338.22 $1,219.99 $0.00 $2,857.26 $509,415.47
216 $509,415.47 $1,219.99 $0.00 $2,880.31 $513,515.77
217 $513,515.77 $1,219.99 $139,070.69 $2,903.49 $378,568.56
218 $378,568.56 $1,219.99 $0.00 $2,140.48 $381,929.03
219 $381,929.03 $1,219.99 $0.00 $2,159.48 $385,308.50
220 $385,308.50 $1,219.99 $0.00 $2,178.59 $388,707.08
221 $388,707.08 $1,219.99 $0.00 $2,197.81 $392,124.88
222 $392,124.88 $1,219.99 $0.00 $2,217.13 $395,562.00
223 $395,562.00 $1,219.99 $0.00 $2,236.57 $399,018.56
224 $399,018.56 $1,219.99 $0.00 $2,256.11 $402,494.66
225 $402,494.66 $1,219.99 $0.00 $2,275.76 $405,990.41
226 $405,990.41 $1,219.99 $0.00 $2,295.53 $409,505.93
227 $409,505.93 $1,219.99 $0.00 $2,315.41 $413,041.33
228 $413,041.33 $1,219.99 $0.00 $2,335.40 $416,596.72
229 $416,596.72 $1,219.99 $148,805.64 $2,355.50 $271,366.57
230 $271,366.57 $1,219.99 $0.00 $1,534.35 $274,120.91
231 $274,120.91 $1,219.99 $0.00 $1,549.92 $276,890.82
232 $276,890.82 $1,219.99 $0.00 $1,565.58 $279,676.39
233 $279,676.39 $1,219.99 $0.00 $1,581.33 $282,477.71
234 $282,477.71 $1,219.99 $0.00 $1,597.17 $285,294.87
235 $285,294.87 $1,219.99 $0.00 $1,613.10 $288,127.96
236 $288,127.96 $1,219.99 $0.00 $1,629.12 $290,977.07
237 $290,977.07 $1,219.99 $0.00 $1,645.23 $293,842.29
238 $293,842.29 $1,219.99 $0.00 $1,661.43 $296,723.71
239 $296,723.71 $1,219.99 $0.00 $1,677.72 $299,621.42
240 $299,621.42 $1,219.99 $0.00 $1,694.10 $302,535.51
241 $302,535.51 $1,219.99 $159,222.04 $1,710.58 $146,244.04
242 $146,244.04 $1,219.99 $0.00 $826.89 $148,290.92
243 $148,290.92 $1,219.99 $0.00 $838.46 $150,349.37
244 $150,349.37 $1,219.99 $0.00 $850.10 $152,419.46
245 $152,419.46 $1,219.99 $0.00 $861.80 $154,501.25
246 $154,501.25 $1,219.99 $0.00 $873.57 $156,594.81
247 $156,594.81 $1,219.99 $0.00 $885.41 $158,700.21
248 $158,700.21 $1,219.99 $0.00 $897.31 $160,817.51
249 $160,817.51 $1,219.99 $0.00 $909.29 $162,946.79
250 $162,946.79 $1,219.99 $0.00 $921.32 $165,088.10
251 $165,088.10 $1,219.99 $0.00 $933.43 $167,241.52
252 $167,241.52 $1,219.99 $0.00 $945.61 $169,407.12
253 $169,407.12 $0.00 $170,367.58 $957.85 -$2.61