Savings Plan and Future Cost Estimation for Knox College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$160,893
Monthly savings required$1,274

How much will it cost to send your child to Knox College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $643,571.85 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,273.61 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$62,044.00
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 $1,273.61 $0.00 $0.00 $1,273.61
2 $1,273.61 $1,273.61 $0.00 $7.20 $2,554.42
3 $2,554.42 $1,273.61 $0.00 $14.44 $3,842.47
4 $3,842.47 $1,273.61 $0.00 $21.73 $5,137.81
5 $5,137.81 $1,273.61 $0.00 $29.05 $6,440.47
6 $6,440.47 $1,273.61 $0.00 $36.42 $7,750.50
7 $7,750.50 $1,273.61 $0.00 $43.82 $9,067.93
8 $9,067.93 $1,273.61 $0.00 $51.27 $10,392.81
9 $10,392.81 $1,273.61 $0.00 $58.76 $11,725.18
10 $11,725.18 $1,273.61 $0.00 $66.30 $13,065.09
11 $13,065.09 $1,273.61 $0.00 $73.87 $14,412.57
12 $14,412.57 $1,273.61 $0.00 $81.49 $15,767.67
13 $15,767.67 $1,273.61 $0.00 $89.15 $17,130.43
14 $17,130.43 $1,273.61 $0.00 $96.86 $18,500.90
15 $18,500.90 $1,273.61 $0.00 $104.61 $19,879.12
16 $19,879.12 $1,273.61 $0.00 $112.40 $21,265.13
17 $21,265.13 $1,273.61 $0.00 $120.24 $22,658.98
18 $22,658.98 $1,273.61 $0.00 $128.12 $24,060.71
19 $24,060.71 $1,273.61 $0.00 $136.04 $25,470.36
20 $25,470.36 $1,273.61 $0.00 $144.01 $26,887.98
21 $26,887.98 $1,273.61 $0.00 $152.03 $28,313.62
22 $28,313.62 $1,273.61 $0.00 $160.09 $29,747.32
23 $29,747.32 $1,273.61 $0.00 $168.20 $31,189.13
24 $31,189.13 $1,273.61 $0.00 $176.35 $32,639.09
25 $32,639.09 $1,273.61 $0.00 $184.55 $34,097.25
26 $34,097.25 $1,273.61 $0.00 $192.79 $35,563.65
27 $35,563.65 $1,273.61 $0.00 $201.08 $37,038.34
28 $37,038.34 $1,273.61 $0.00 $209.42 $38,521.37
29 $38,521.37 $1,273.61 $0.00 $217.81 $40,012.79
30 $40,012.79 $1,273.61 $0.00 $226.24 $41,512.64
31 $41,512.64 $1,273.61 $0.00 $234.72 $43,020.97
32 $43,020.97 $1,273.61 $0.00 $243.25 $44,537.83
33 $44,537.83 $1,273.61 $0.00 $251.82 $46,063.26
34 $46,063.26 $1,273.61 $0.00 $260.45 $47,597.32
35 $47,597.32 $1,273.61 $0.00 $269.12 $49,140.05
36 $49,140.05 $1,273.61 $0.00 $277.84 $50,691.50
37 $50,691.50 $1,273.61 $0.00 $286.62 $52,251.73
38 $52,251.73 $1,273.61 $0.00 $295.44 $53,820.78
39 $53,820.78 $1,273.61 $0.00 $304.31 $55,398.70
40 $55,398.70 $1,273.61 $0.00 $313.23 $56,985.54
41 $56,985.54 $1,273.61 $0.00 $322.20 $58,581.35
42 $58,581.35 $1,273.61 $0.00 $331.23 $60,186.19
43 $60,186.19 $1,273.61 $0.00 $340.30 $61,800.10
44 $61,800.10 $1,273.61 $0.00 $349.43 $63,423.14
45 $63,423.14 $1,273.61 $0.00 $358.60 $65,055.35
46 $65,055.35 $1,273.61 $0.00 $367.83 $66,696.79
47 $66,696.79 $1,273.61 $0.00 $377.11 $68,347.51
48 $68,347.51 $1,273.61 $0.00 $386.45 $70,007.57
49 $70,007.57 $1,273.61 $0.00 $395.83 $71,677.01
50 $71,677.01 $1,273.61 $0.00 $405.27 $73,355.89
51 $73,355.89 $1,273.61 $0.00 $414.76 $75,044.26
52 $75,044.26 $1,273.61 $0.00 $424.31 $76,742.18
53 $76,742.18 $1,273.61 $0.00 $433.91 $78,449.70
54 $78,449.70 $1,273.61 $0.00 $443.57 $80,166.88
55 $80,166.88 $1,273.61 $0.00 $453.28 $81,893.77
56 $81,893.77 $1,273.61 $0.00 $463.04 $83,630.42
57 $83,630.42 $1,273.61 $0.00 $472.86 $85,376.89
58 $85,376.89 $1,273.61 $0.00 $482.73 $87,133.23
59 $87,133.23 $1,273.61 $0.00 $492.66 $88,899.50
60 $88,899.50 $1,273.61 $0.00 $502.65 $90,675.76
61 $90,675.76 $1,273.61 $0.00 $512.69 $92,462.06
62 $92,462.06 $1,273.61 $0.00 $522.79 $94,258.46
63 $94,258.46 $1,273.61 $0.00 $532.95 $96,065.02
64 $96,065.02 $1,273.61 $0.00 $543.17 $97,881.80
65 $97,881.80 $1,273.61 $0.00 $553.44 $99,708.85
66 $99,708.85 $1,273.61 $0.00 $563.77 $101,546.23
67 $101,546.23 $1,273.61 $0.00 $574.16 $103,394.00
68 $103,394.00 $1,273.61 $0.00 $584.60 $105,252.21
69 $105,252.21 $1,273.61 $0.00 $595.11 $107,120.93
70 $107,120.93 $1,273.61 $0.00 $605.68 $109,000.22
71 $109,000.22 $1,273.61 $0.00 $616.30 $110,890.13
72 $110,890.13 $1,273.61 $0.00 $626.99 $112,790.73
73 $112,790.73 $1,273.61 $0.00 $637.74 $114,702.08
74 $114,702.08 $1,273.61 $0.00 $648.54 $116,624.23
75 $116,624.23 $1,273.61 $0.00 $659.41 $118,557.25
76 $118,557.25 $1,273.61 $0.00 $670.34 $120,501.20
77 $120,501.20 $1,273.61 $0.00 $681.33 $122,456.14
78 $122,456.14 $1,273.61 $0.00 $692.38 $124,422.13
79 $124,422.13 $1,273.61 $0.00 $703.50 $126,399.24
80 $126,399.24 $1,273.61 $0.00 $714.68 $128,387.53
81 $128,387.53 $1,273.61 $0.00 $725.92 $130,387.06
82 $130,387.06 $1,273.61 $0.00 $737.23 $132,397.90
83 $132,397.90 $1,273.61 $0.00 $748.60 $134,420.11
84 $134,420.11 $1,273.61 $0.00 $760.03 $136,453.75
85 $136,453.75 $1,273.61 $0.00 $771.53 $138,498.89
86 $138,498.89 $1,273.61 $0.00 $783.09 $140,555.59
87 $140,555.59 $1,273.61 $0.00 $794.72 $142,623.92
88 $142,623.92 $1,273.61 $0.00 $806.42 $144,703.95
89 $144,703.95 $1,273.61 $0.00 $818.18 $146,795.74
90 $146,795.74 $1,273.61 $0.00 $830.00 $148,899.35
91 $148,899.35 $1,273.61 $0.00 $841.90 $151,014.86
92 $151,014.86 $1,273.61 $0.00 $853.86 $153,142.33
93 $153,142.33 $1,273.61 $0.00 $865.89 $155,281.83
94 $155,281.83 $1,273.61 $0.00 $877.99 $157,433.43
95 $157,433.43 $1,273.61 $0.00 $890.15 $159,597.19
96 $159,597.19 $1,273.61 $0.00 $902.39 $161,773.19
97 $161,773.19 $1,273.61 $0.00 $914.69 $163,961.49
98 $163,961.49 $1,273.61 $0.00 $927.06 $166,162.16
99 $166,162.16 $1,273.61 $0.00 $939.51 $168,375.28
100 $168,375.28 $1,273.61 $0.00 $952.02 $170,600.91
101 $170,600.91 $1,273.61 $0.00 $964.60 $172,839.12
102 $172,839.12 $1,273.61 $0.00 $977.26 $175,089.99
103 $175,089.99 $1,273.61 $0.00 $989.98 $177,353.58
104 $177,353.58 $1,273.61 $0.00 $1,002.78 $179,629.97
105 $179,629.97 $1,273.61 $0.00 $1,015.65 $181,919.23
106 $181,919.23 $1,273.61 $0.00 $1,028.60 $184,221.44
107 $184,221.44 $1,273.61 $0.00 $1,041.61 $186,536.66
108 $186,536.66 $1,273.61 $0.00 $1,054.71 $188,864.98
109 $188,864.98 $1,273.61 $0.00 $1,067.87 $191,206.46
110 $191,206.46 $1,273.61 $0.00 $1,081.11 $193,561.18
111 $193,561.18 $1,273.61 $0.00 $1,094.42 $195,929.21
112 $195,929.21 $1,273.61 $0.00 $1,107.81 $198,310.63
113 $198,310.63 $1,273.61 $0.00 $1,121.28 $200,705.52
114 $200,705.52 $1,273.61 $0.00 $1,134.82 $203,113.95
115 $203,113.95 $1,273.61 $0.00 $1,148.44 $205,536.00
116 $205,536.00 $1,273.61 $0.00 $1,162.13 $207,971.74
117 $207,971.74 $1,273.61 $0.00 $1,175.90 $210,421.25
118 $210,421.25 $1,273.61 $0.00 $1,189.75 $212,884.61
119 $212,884.61 $1,273.61 $0.00 $1,203.68 $215,361.90
120 $215,361.90 $1,273.61 $0.00 $1,217.69 $217,853.20
121 $217,853.20 $1,273.61 $0.00 $1,231.77 $220,358.58
122 $220,358.58 $1,273.61 $0.00 $1,245.94 $222,878.13
123 $222,878.13 $1,273.61 $0.00 $1,260.19 $225,411.93
124 $225,411.93 $1,273.61 $0.00 $1,274.51 $227,960.05
125 $227,960.05 $1,273.61 $0.00 $1,288.92 $230,522.58
126 $230,522.58 $1,273.61 $0.00 $1,303.41 $233,099.60
127 $233,099.60 $1,273.61 $0.00 $1,317.98 $235,691.19
128 $235,691.19 $1,273.61 $0.00 $1,332.63 $238,297.43
129 $238,297.43 $1,273.61 $0.00 $1,347.37 $240,918.41
130 $240,918.41 $1,273.61 $0.00 $1,362.19 $243,554.21
131 $243,554.21 $1,273.61 $0.00 $1,377.09 $246,204.91
132 $246,204.91 $1,273.61 $0.00 $1,392.08 $248,870.60
133 $248,870.60 $1,273.61 $0.00 $1,407.15 $251,551.36
134 $251,551.36 $1,273.61 $0.00 $1,422.31 $254,247.28
135 $254,247.28 $1,273.61 $0.00 $1,437.55 $256,958.44
136 $256,958.44 $1,273.61 $0.00 $1,452.88 $259,684.93
137 $259,684.93 $1,273.61 $0.00 $1,468.30 $262,426.84
138 $262,426.84 $1,273.61 $0.00 $1,483.80 $265,184.25
139 $265,184.25 $1,273.61 $0.00 $1,499.39 $267,957.25
140 $267,957.25 $1,273.61 $0.00 $1,515.07 $270,745.93
141 $270,745.93 $1,273.61 $0.00 $1,530.84 $273,550.38
142 $273,550.38 $1,273.61 $0.00 $1,546.69 $276,370.68
143 $276,370.68 $1,273.61 $0.00 $1,562.64 $279,206.93
144 $279,206.93 $1,273.61 $0.00 $1,578.68 $282,059.22
145 $282,059.22 $1,273.61 $0.00 $1,594.80 $284,927.63
146 $284,927.63 $1,273.61 $0.00 $1,611.02 $287,812.26
147 $287,812.26 $1,273.61 $0.00 $1,627.33 $290,713.20
148 $290,713.20 $1,273.61 $0.00 $1,643.73 $293,630.54
149 $293,630.54 $1,273.61 $0.00 $1,660.23 $296,564.38
150 $296,564.38 $1,273.61 $0.00 $1,676.82 $299,514.81
151 $299,514.81 $1,273.61 $0.00 $1,693.50 $302,481.92
152 $302,481.92 $1,273.61 $0.00 $1,710.28 $305,465.81
153 $305,465.81 $1,273.61 $0.00 $1,727.15 $308,466.57
154 $308,466.57 $1,273.61 $0.00 $1,744.11 $311,484.29
155 $311,484.29 $1,273.61 $0.00 $1,761.18 $314,519.08
156 $314,519.08 $1,273.61 $0.00 $1,778.34 $317,571.03
157 $317,571.03 $1,273.61 $0.00 $1,795.59 $320,640.23
158 $320,640.23 $1,273.61 $0.00 $1,812.95 $323,726.79
159 $323,726.79 $1,273.61 $0.00 $1,830.40 $326,830.80
160 $326,830.80 $1,273.61 $0.00 $1,847.95 $329,952.36
161 $329,952.36 $1,273.61 $0.00 $1,865.60 $333,091.57
162 $333,091.57 $1,273.61 $0.00 $1,883.35 $336,248.53
163 $336,248.53 $1,273.61 $0.00 $1,901.20 $339,423.34
164 $339,423.34 $1,273.61 $0.00 $1,919.15 $342,616.10
165 $342,616.10 $1,273.61 $0.00 $1,937.20 $345,826.91
166 $345,826.91 $1,273.61 $0.00 $1,955.36 $349,055.88
167 $349,055.88 $1,273.61 $0.00 $1,973.61 $352,303.10
168 $352,303.10 $1,273.61 $0.00 $1,991.97 $355,568.68
169 $355,568.68 $1,273.61 $0.00 $2,010.44 $358,852.73
170 $358,852.73 $1,273.61 $0.00 $2,029.01 $362,155.35
171 $362,155.35 $1,273.61 $0.00 $2,047.68 $365,476.64
172 $365,476.64 $1,273.61 $0.00 $2,066.46 $368,816.71
173 $368,816.71 $1,273.61 $0.00 $2,085.34 $372,175.66
174 $372,175.66 $1,273.61 $0.00 $2,104.34 $375,553.61
175 $375,553.61 $1,273.61 $0.00 $2,123.43 $378,950.65
176 $378,950.65 $1,273.61 $0.00 $2,142.64 $382,366.90
177 $382,366.90 $1,273.61 $0.00 $2,161.96 $385,802.47
178 $385,802.47 $1,273.61 $0.00 $2,181.38 $389,257.46
179 $389,257.46 $1,273.61 $0.00 $2,200.92 $392,731.99
180 $392,731.99 $1,273.61 $0.00 $2,220.56 $396,226.16
181 $396,226.16 $1,273.61 $0.00 $2,240.32 $399,740.09
182 $399,740.09 $1,273.61 $0.00 $2,260.19 $403,273.89
183 $403,273.89 $1,273.61 $0.00 $2,280.17 $406,827.67
184 $406,827.67 $1,273.61 $0.00 $2,300.26 $410,401.54
185 $410,401.54 $1,273.61 $0.00 $2,320.47 $413,995.62
186 $413,995.62 $1,273.61 $0.00 $2,340.79 $417,610.02
187 $417,610.02 $1,273.61 $0.00 $2,361.23 $421,244.86
188 $421,244.86 $1,273.61 $0.00 $2,381.78 $424,900.25
189 $424,900.25 $1,273.61 $0.00 $2,402.45 $428,576.31
190 $428,576.31 $1,273.61 $0.00 $2,423.23 $432,273.15
191 $432,273.15 $1,273.61 $0.00 $2,444.14 $435,990.90
192 $435,990.90 $1,273.61 $0.00 $2,465.16 $439,729.67
193 $439,729.67 $1,273.61 $0.00 $2,486.30 $443,489.58
194 $443,489.58 $1,273.61 $0.00 $2,507.55 $447,270.74
195 $447,270.74 $1,273.61 $0.00 $2,528.93 $451,073.28
196 $451,073.28 $1,273.61 $0.00 $2,550.43 $454,897.32
197 $454,897.32 $1,273.61 $0.00 $2,572.06 $458,742.99
198 $458,742.99 $1,273.61 $0.00 $2,593.80 $462,610.40
199 $462,610.40 $1,273.61 $0.00 $2,615.67 $466,499.68
200 $466,499.68 $1,273.61 $0.00 $2,637.66 $470,410.95
201 $470,410.95 $1,273.61 $0.00 $2,659.77 $474,344.33
202 $474,344.33 $1,273.61 $0.00 $2,682.01 $478,299.95
203 $478,299.95 $1,273.61 $0.00 $2,704.38 $482,277.94
204 $482,277.94 $1,273.61 $0.00 $2,726.87 $486,278.42
205 $486,278.42 $1,273.61 $0.00 $2,749.49 $490,301.52
206 $490,301.52 $1,273.61 $0.00 $2,772.24 $494,347.37
207 $494,347.37 $1,273.61 $0.00 $2,795.11 $498,416.09
208 $498,416.09 $1,273.61 $0.00 $2,818.12 $502,507.82
209 $502,507.82 $1,273.61 $0.00 $2,841.25 $506,622.68
210 $506,622.68 $1,273.61 $0.00 $2,864.52 $510,760.81
211 $510,760.81 $1,273.61 $0.00 $2,887.92 $514,922.34
212 $514,922.34 $1,273.61 $0.00 $2,911.45 $519,107.40
213 $519,107.40 $1,273.61 $0.00 $2,935.11 $523,316.12
214 $523,316.12 $1,273.61 $0.00 $2,958.91 $527,548.64
215 $527,548.64 $1,273.61 $0.00 $2,982.84 $531,805.09
216 $531,805.09 $1,273.61 $0.00 $3,006.90 $536,085.60
217 $536,085.60 $1,273.61 $149,316.28 $3,031.11 $391,074.04
218 $391,074.04 $1,273.61 $0.00 $2,211.19 $394,558.84
219 $394,558.84 $1,273.61 $0.00 $2,230.89 $398,063.34
220 $398,063.34 $1,273.61 $0.00 $2,250.71 $401,587.66
221 $401,587.66 $1,273.61 $0.00 $2,270.64 $405,131.91
222 $405,131.91 $1,273.61 $0.00 $2,290.67 $408,696.19
223 $408,696.19 $1,273.61 $0.00 $2,310.83 $412,280.63
224 $412,280.63 $1,273.61 $0.00 $2,331.09 $415,885.33
225 $415,885.33 $1,273.61 $0.00 $2,351.48 $419,510.42
226 $419,510.42 $1,273.61 $0.00 $2,371.97 $423,156.00
227 $423,156.00 $1,273.61 $0.00 $2,392.59 $426,822.20
228 $426,822.20 $1,273.61 $0.00 $2,413.31 $430,509.12
229 $430,509.12 $1,273.61 $156,782.10 $2,434.16 $277,434.79
230 $277,434.79 $1,273.61 $0.00 $1,568.66 $280,277.06
231 $280,277.06 $1,273.61 $0.00 $1,584.73 $283,135.40
232 $283,135.40 $1,273.61 $0.00 $1,600.89 $286,009.90
233 $286,009.90 $1,273.61 $0.00 $1,617.14 $288,900.65
234 $288,900.65 $1,273.61 $0.00 $1,633.49 $291,807.75
235 $291,807.75 $1,273.61 $0.00 $1,649.92 $294,731.28
236 $294,731.28 $1,273.61 $0.00 $1,666.45 $297,671.34
237 $297,671.34 $1,273.61 $0.00 $1,683.08 $300,628.03
238 $300,628.03 $1,273.61 $0.00 $1,699.79 $303,601.43
239 $303,601.43 $1,273.61 $0.00 $1,716.61 $306,591.65
240 $306,591.65 $1,273.61 $0.00 $1,733.51 $309,598.77
241 $309,598.77 $1,273.61 $164,621.20 $1,750.52 $148,001.70
242 $148,001.70 $1,273.61 $0.00 $836.82 $150,112.13
243 $150,112.13 $1,273.61 $0.00 $848.76 $152,234.50
244 $152,234.50 $1,273.61 $0.00 $860.76 $154,368.87
245 $154,368.87 $1,273.61 $0.00 $872.82 $156,515.30
246 $156,515.30 $1,273.61 $0.00 $884.96 $158,673.87
247 $158,673.87 $1,273.61 $0.00 $897.17 $160,844.65
248 $160,844.65 $1,273.61 $0.00 $909.44 $163,027.70
249 $163,027.70 $1,273.61 $0.00 $921.78 $165,223.09
250 $165,223.09 $1,273.61 $0.00 $934.20 $167,430.90
251 $167,430.90 $1,273.61 $0.00 $946.68 $169,651.19
252 $169,651.19 $1,273.61 $0.00 $959.23 $171,884.03
253 $171,884.03 $0.00 $172,852.26 $971.86 $3.63