Savings Plan and Future Cost Estimation for Goshen College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2041$131,138
Monthly savings required$1,038

How much will it cost to send your child to Goshen College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $524,554.00 for students enrolling in 2041 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,038.07 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$50,570.00
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 $1,038.07 $0.00 $0.00 $1,038.07
2 $1,038.07 $1,038.07 $0.00 $5.87 $2,082.01
3 $2,082.01 $1,038.07 $0.00 $11.77 $3,131.85
4 $3,131.85 $1,038.07 $0.00 $17.71 $4,187.63
5 $4,187.63 $1,038.07 $0.00 $23.68 $5,249.38
6 $5,249.38 $1,038.07 $0.00 $29.68 $6,317.13
7 $6,317.13 $1,038.07 $0.00 $35.72 $7,390.92
8 $7,390.92 $1,038.07 $0.00 $41.79 $8,470.78
9 $8,470.78 $1,038.07 $0.00 $47.90 $9,556.75
10 $9,556.75 $1,038.07 $0.00 $54.04 $10,648.86
11 $10,648.86 $1,038.07 $0.00 $60.21 $11,747.14
12 $11,747.14 $1,038.07 $0.00 $66.42 $12,851.63
13 $12,851.63 $1,038.07 $0.00 $72.66 $13,962.36
14 $13,962.36 $1,038.07 $0.00 $78.95 $15,079.38
15 $15,079.38 $1,038.07 $0.00 $85.26 $16,202.71
16 $16,202.71 $1,038.07 $0.00 $91.61 $17,332.39
17 $17,332.39 $1,038.07 $0.00 $98.00 $18,468.46
18 $18,468.46 $1,038.07 $0.00 $104.42 $19,610.95
19 $19,610.95 $1,038.07 $0.00 $110.88 $20,759.90
20 $20,759.90 $1,038.07 $0.00 $117.38 $21,915.35
21 $21,915.35 $1,038.07 $0.00 $123.91 $23,077.33
22 $23,077.33 $1,038.07 $0.00 $130.48 $24,245.88
23 $24,245.88 $1,038.07 $0.00 $137.09 $25,421.04
24 $25,421.04 $1,038.07 $0.00 $143.73 $26,602.84
25 $26,602.84 $1,038.07 $0.00 $150.42 $27,791.33
26 $27,791.33 $1,038.07 $0.00 $157.14 $28,986.54
27 $28,986.54 $1,038.07 $0.00 $163.89 $30,188.50
28 $30,188.50 $1,038.07 $0.00 $170.69 $31,397.26
29 $31,397.26 $1,038.07 $0.00 $177.52 $32,612.85
30 $32,612.85 $1,038.07 $0.00 $184.40 $33,835.32
31 $33,835.32 $1,038.07 $0.00 $191.31 $35,064.70
32 $35,064.70 $1,038.07 $0.00 $198.26 $36,301.03
33 $36,301.03 $1,038.07 $0.00 $205.25 $37,544.35
34 $37,544.35 $1,038.07 $0.00 $212.28 $38,794.70
35 $38,794.70 $1,038.07 $0.00 $219.35 $40,052.12
36 $40,052.12 $1,038.07 $0.00 $226.46 $41,316.65
37 $41,316.65 $1,038.07 $0.00 $233.61 $42,588.33
38 $42,588.33 $1,038.07 $0.00 $240.80 $43,867.20
39 $43,867.20 $1,038.07 $0.00 $248.03 $45,153.30
40 $45,153.30 $1,038.07 $0.00 $255.30 $46,446.67
41 $46,446.67 $1,038.07 $0.00 $262.62 $47,747.36
42 $47,747.36 $1,038.07 $0.00 $269.97 $49,055.40
43 $49,055.40 $1,038.07 $0.00 $277.37 $50,370.84
44 $50,370.84 $1,038.07 $0.00 $284.80 $51,693.71
45 $51,693.71 $1,038.07 $0.00 $292.28 $53,024.06
46 $53,024.06 $1,038.07 $0.00 $299.81 $54,361.94
47 $54,361.94 $1,038.07 $0.00 $307.37 $55,707.38
48 $55,707.38 $1,038.07 $0.00 $314.98 $57,060.43
49 $57,060.43 $1,038.07 $0.00 $322.63 $58,421.13
50 $58,421.13 $1,038.07 $0.00 $330.32 $59,789.52
51 $59,789.52 $1,038.07 $0.00 $338.06 $61,165.65
52 $61,165.65 $1,038.07 $0.00 $345.84 $62,549.56
53 $62,549.56 $1,038.07 $0.00 $353.66 $63,941.29
54 $63,941.29 $1,038.07 $0.00 $361.53 $65,340.89
55 $65,340.89 $1,038.07 $0.00 $369.45 $66,748.41
56 $66,748.41 $1,038.07 $0.00 $377.41 $68,163.89
57 $68,163.89 $1,038.07 $0.00 $385.41 $69,587.37
58 $69,587.37 $1,038.07 $0.00 $393.46 $71,018.90
59 $71,018.90 $1,038.07 $0.00 $401.55 $72,458.52
60 $72,458.52 $1,038.07 $0.00 $409.69 $73,906.28
61 $73,906.28 $1,038.07 $0.00 $417.88 $75,362.23
62 $75,362.23 $1,038.07 $0.00 $426.11 $76,826.41
63 $76,826.41 $1,038.07 $0.00 $434.39 $78,298.87
64 $78,298.87 $1,038.07 $0.00 $442.71 $79,779.65
65 $79,779.65 $1,038.07 $0.00 $451.09 $81,268.81
66 $81,268.81 $1,038.07 $0.00 $459.51 $82,766.39
67 $82,766.39 $1,038.07 $0.00 $467.97 $84,272.43
68 $84,272.43 $1,038.07 $0.00 $476.49 $85,786.99
69 $85,786.99 $1,038.07 $0.00 $485.05 $87,310.11
70 $87,310.11 $1,038.07 $0.00 $493.66 $88,841.84
71 $88,841.84 $1,038.07 $0.00 $502.32 $90,382.23
72 $90,382.23 $1,038.07 $0.00 $511.03 $91,931.33
73 $91,931.33 $1,038.07 $0.00 $519.79 $93,489.19
74 $93,489.19 $1,038.07 $0.00 $528.60 $95,055.86
75 $95,055.86 $1,038.07 $0.00 $537.46 $96,631.39
76 $96,631.39 $1,038.07 $0.00 $546.37 $98,215.83
77 $98,215.83 $1,038.07 $0.00 $555.33 $99,809.23
78 $99,809.23 $1,038.07 $0.00 $564.34 $101,411.64
79 $101,411.64 $1,038.07 $0.00 $573.40 $103,023.11
80 $103,023.11 $1,038.07 $0.00 $582.51 $104,643.69
81 $104,643.69 $1,038.07 $0.00 $591.67 $106,273.43
82 $106,273.43 $1,038.07 $0.00 $600.89 $107,912.39
83 $107,912.39 $1,038.07 $0.00 $610.15 $109,560.61
84 $109,560.61 $1,038.07 $0.00 $619.47 $111,218.15
85 $111,218.15 $1,038.07 $0.00 $628.84 $112,885.06
86 $112,885.06 $1,038.07 $0.00 $638.27 $114,561.40
87 $114,561.40 $1,038.07 $0.00 $647.75 $116,247.22
88 $116,247.22 $1,038.07 $0.00 $657.28 $117,942.57
89 $117,942.57 $1,038.07 $0.00 $666.86 $119,647.50
90 $119,647.50 $1,038.07 $0.00 $676.50 $121,362.07
91 $121,362.07 $1,038.07 $0.00 $686.20 $123,086.34
92 $123,086.34 $1,038.07 $0.00 $695.95 $124,820.36
93 $124,820.36 $1,038.07 $0.00 $705.75 $126,564.18
94 $126,564.18 $1,038.07 $0.00 $715.61 $128,317.86
95 $128,317.86 $1,038.07 $0.00 $725.53 $130,081.46
96 $130,081.46 $1,038.07 $0.00 $735.50 $131,855.03
97 $131,855.03 $1,038.07 $0.00 $745.53 $133,638.63
98 $133,638.63 $1,038.07 $0.00 $755.61 $135,432.31
99 $135,432.31 $1,038.07 $0.00 $765.75 $137,236.13
100 $137,236.13 $1,038.07 $0.00 $775.95 $139,050.15
101 $139,050.15 $1,038.07 $0.00 $786.21 $140,874.43
102 $140,874.43 $1,038.07 $0.00 $796.52 $142,709.02
103 $142,709.02 $1,038.07 $0.00 $806.90 $144,553.99
104 $144,553.99 $1,038.07 $0.00 $817.33 $146,409.39
105 $146,409.39 $1,038.07 $0.00 $827.82 $148,275.28
106 $148,275.28 $1,038.07 $0.00 $838.37 $150,151.72
107 $150,151.72 $1,038.07 $0.00 $848.98 $152,038.77
108 $152,038.77 $1,038.07 $0.00 $859.65 $153,936.49
109 $153,936.49 $1,038.07 $0.00 $870.38 $155,844.94
110 $155,844.94 $1,038.07 $0.00 $881.17 $157,764.18
111 $157,764.18 $1,038.07 $0.00 $892.02 $159,694.27
112 $159,694.27 $1,038.07 $0.00 $902.93 $161,635.27
113 $161,635.27 $1,038.07 $0.00 $913.91 $163,587.25
114 $163,587.25 $1,038.07 $0.00 $924.95 $165,550.27
115 $165,550.27 $1,038.07 $0.00 $936.05 $167,524.39
116 $167,524.39 $1,038.07 $0.00 $947.21 $169,509.67
117 $169,509.67 $1,038.07 $0.00 $958.43 $171,506.17
118 $171,506.17 $1,038.07 $0.00 $969.72 $173,513.96
119 $173,513.96 $1,038.07 $0.00 $981.07 $175,533.10
120 $175,533.10 $1,038.07 $0.00 $992.49 $177,563.66
121 $177,563.66 $1,038.07 $0.00 $1,003.97 $179,605.70
122 $179,605.70 $1,038.07 $0.00 $1,015.52 $181,659.29
123 $181,659.29 $1,038.07 $0.00 $1,027.13 $183,724.49
124 $183,724.49 $1,038.07 $0.00 $1,038.80 $185,801.36
125 $185,801.36 $1,038.07 $0.00 $1,050.55 $187,889.98
126 $187,889.98 $1,038.07 $0.00 $1,062.36 $189,990.41
127 $189,990.41 $1,038.07 $0.00 $1,074.23 $192,102.71
128 $192,102.71 $1,038.07 $0.00 $1,086.18 $194,226.96
129 $194,226.96 $1,038.07 $0.00 $1,098.19 $196,363.22
130 $196,363.22 $1,038.07 $0.00 $1,110.27 $198,511.56
131 $198,511.56 $1,038.07 $0.00 $1,122.41 $200,672.04
132 $200,672.04 $1,038.07 $0.00 $1,134.63 $202,844.74
133 $202,844.74 $1,038.07 $0.00 $1,146.91 $205,029.72
134 $205,029.72 $1,038.07 $0.00 $1,159.27 $207,227.06
135 $207,227.06 $1,038.07 $0.00 $1,171.69 $209,436.82
136 $209,436.82 $1,038.07 $0.00 $1,184.19 $211,659.08
137 $211,659.08 $1,038.07 $0.00 $1,196.75 $213,893.90
138 $213,893.90 $1,038.07 $0.00 $1,209.39 $216,141.36
139 $216,141.36 $1,038.07 $0.00 $1,222.09 $218,401.52
140 $218,401.52 $1,038.07 $0.00 $1,234.87 $220,674.46
141 $220,674.46 $1,038.07 $0.00 $1,247.73 $222,960.26
142 $222,960.26 $1,038.07 $0.00 $1,260.65 $225,258.98
143 $225,258.98 $1,038.07 $0.00 $1,273.65 $227,570.70
144 $227,570.70 $1,038.07 $0.00 $1,286.72 $229,895.49
145 $229,895.49 $1,038.07 $0.00 $1,299.86 $232,233.42
146 $232,233.42 $1,038.07 $0.00 $1,313.08 $234,584.57
147 $234,584.57 $1,038.07 $0.00 $1,326.38 $236,949.02
148 $236,949.02 $1,038.07 $0.00 $1,339.74 $239,326.83
149 $239,326.83 $1,038.07 $0.00 $1,353.19 $241,718.09
150 $241,718.09 $1,038.07 $0.00 $1,366.71 $244,122.87
151 $244,122.87 $1,038.07 $0.00 $1,380.31 $246,541.25
152 $246,541.25 $1,038.07 $0.00 $1,393.98 $248,973.30
153 $248,973.30 $1,038.07 $0.00 $1,407.73 $251,419.10
154 $251,419.10 $1,038.07 $0.00 $1,421.56 $253,878.73
155 $253,878.73 $1,038.07 $0.00 $1,435.47 $256,352.27
156 $256,352.27 $1,038.07 $0.00 $1,449.45 $258,839.79
157 $258,839.79 $1,038.07 $0.00 $1,463.52 $261,341.38
158 $261,341.38 $1,038.07 $0.00 $1,477.66 $263,857.11
159 $263,857.11 $1,038.07 $0.00 $1,491.89 $266,387.07
160 $266,387.07 $1,038.07 $0.00 $1,506.19 $268,931.33
161 $268,931.33 $1,038.07 $0.00 $1,520.58 $271,489.98
162 $271,489.98 $1,038.07 $0.00 $1,535.04 $274,063.09
163 $274,063.09 $1,038.07 $0.00 $1,549.59 $276,650.75
164 $276,650.75 $1,038.07 $0.00 $1,564.22 $279,253.04
165 $279,253.04 $1,038.07 $0.00 $1,578.94 $281,870.05
166 $281,870.05 $1,038.07 $0.00 $1,593.73 $284,501.85
167 $284,501.85 $1,038.07 $0.00 $1,608.61 $287,148.53
168 $287,148.53 $1,038.07 $0.00 $1,623.58 $289,810.18
169 $289,810.18 $1,038.07 $0.00 $1,638.63 $292,486.88
170 $292,486.88 $1,038.07 $0.00 $1,653.76 $295,178.71
171 $295,178.71 $1,038.07 $0.00 $1,668.98 $297,885.76
172 $297,885.76 $1,038.07 $0.00 $1,684.29 $300,608.12
173 $300,608.12 $1,038.07 $0.00 $1,699.68 $303,345.87
174 $303,345.87 $1,038.07 $0.00 $1,715.16 $306,099.10
175 $306,099.10 $1,038.07 $0.00 $1,730.73 $308,867.90
176 $308,867.90 $1,038.07 $0.00 $1,746.38 $311,652.35
177 $311,652.35 $1,038.07 $0.00 $1,762.13 $314,452.55
178 $314,452.55 $1,038.07 $0.00 $1,777.96 $317,268.58
179 $317,268.58 $1,038.07 $0.00 $1,793.88 $320,100.53
180 $320,100.53 $1,038.07 $0.00 $1,809.89 $322,948.49
181 $322,948.49 $1,038.07 $0.00 $1,826.00 $325,812.56
182 $325,812.56 $1,038.07 $0.00 $1,842.19 $328,692.82
183 $328,692.82 $1,038.07 $0.00 $1,858.48 $331,589.37
184 $331,589.37 $1,038.07 $0.00 $1,874.85 $334,502.29
185 $334,502.29 $1,038.07 $0.00 $1,891.32 $337,431.68
186 $337,431.68 $1,038.07 $0.00 $1,907.89 $340,377.64
187 $340,377.64 $1,038.07 $0.00 $1,924.54 $343,340.25
188 $343,340.25 $1,038.07 $0.00 $1,941.30 $346,319.62
189 $346,319.62 $1,038.07 $0.00 $1,958.14 $349,315.83
190 $349,315.83 $1,038.07 $0.00 $1,975.08 $352,328.98
191 $352,328.98 $1,038.07 $0.00 $1,992.12 $355,359.17
192 $355,359.17 $1,038.07 $0.00 $2,009.25 $358,406.49
193 $358,406.49 $1,038.07 $0.00 $2,026.48 $361,471.04
194 $361,471.04 $1,038.07 $0.00 $2,043.81 $364,552.92
195 $364,552.92 $1,038.07 $0.00 $2,061.24 $367,652.23
196 $367,652.23 $1,038.07 $0.00 $2,078.76 $370,769.06
197 $370,769.06 $1,038.07 $0.00 $2,096.38 $373,903.51
198 $373,903.51 $1,038.07 $0.00 $2,114.10 $377,055.68
199 $377,055.68 $1,038.07 $0.00 $2,131.93 $380,225.68
200 $380,225.68 $1,038.07 $0.00 $2,149.85 $383,413.60
201 $383,413.60 $1,038.07 $0.00 $2,167.88 $386,619.55
202 $386,619.55 $1,038.07 $0.00 $2,186.00 $389,843.62
203 $389,843.62 $1,038.07 $0.00 $2,204.23 $393,085.92
204 $393,085.92 $1,038.07 $0.00 $2,222.56 $396,346.55
205 $396,346.55 $1,038.07 $0.00 $2,241.00 $399,625.62
206 $399,625.62 $1,038.07 $0.00 $2,259.54 $402,923.23
207 $402,923.23 $1,038.07 $0.00 $2,278.19 $406,239.49
208 $406,239.49 $1,038.07 $0.00 $2,296.94 $409,574.50
209 $409,574.50 $1,038.07 $0.00 $2,315.79 $412,928.36
210 $412,928.36 $1,038.07 $0.00 $2,334.76 $416,301.19
211 $416,301.19 $1,038.07 $0.00 $2,353.83 $419,693.09
212 $419,693.09 $1,038.07 $0.00 $2,373.01 $423,104.17
213 $423,104.17 $1,038.07 $0.00 $2,392.29 $426,534.53
214 $426,534.53 $1,038.07 $0.00 $2,411.69 $429,984.29
215 $429,984.29 $1,038.07 $0.00 $2,431.19 $433,453.55
216 $433,453.55 $1,038.07 $0.00 $2,450.81 $436,942.43
217 $436,942.43 $1,038.07 $121,702.73 $2,470.54 $318,748.31
218 $318,748.31 $1,038.07 $0.00 $1,802.25 $321,588.63
219 $321,588.63 $1,038.07 $0.00 $1,818.31 $324,445.01
220 $324,445.01 $1,038.07 $0.00 $1,834.46 $327,317.54
221 $327,317.54 $1,038.07 $0.00 $1,850.70 $330,206.31
222 $330,206.31 $1,038.07 $0.00 $1,867.03 $333,111.41
223 $333,111.41 $1,038.07 $0.00 $1,883.46 $336,032.94
224 $336,032.94 $1,038.07 $0.00 $1,899.98 $338,970.99
225 $338,970.99 $1,038.07 $0.00 $1,916.59 $341,925.65
226 $341,925.65 $1,038.07 $0.00 $1,933.30 $344,897.02
227 $344,897.02 $1,038.07 $0.00 $1,950.10 $347,885.19
228 $347,885.19 $1,038.07 $0.00 $1,966.99 $350,890.25
229 $350,890.25 $1,038.07 $127,787.87 $1,983.98 $226,124.43
230 $226,124.43 $1,038.07 $0.00 $1,278.54 $228,441.04
231 $228,441.04 $1,038.07 $0.00 $1,291.64 $230,770.75
232 $230,770.75 $1,038.07 $0.00 $1,304.81 $233,113.63
233 $233,113.63 $1,038.07 $0.00 $1,318.06 $235,469.76
234 $235,469.76 $1,038.07 $0.00 $1,331.38 $237,839.21
235 $237,839.21 $1,038.07 $0.00 $1,344.78 $240,222.06
236 $240,222.06 $1,038.07 $0.00 $1,358.25 $242,618.38
237 $242,618.38 $1,038.07 $0.00 $1,371.80 $245,028.25
238 $245,028.25 $1,038.07 $0.00 $1,385.43 $247,451.75
239 $247,451.75 $1,038.07 $0.00 $1,399.13 $249,888.95
240 $249,888.95 $1,038.07 $0.00 $1,412.91 $252,339.93
241 $252,339.93 $1,038.07 $134,177.26 $1,426.77 $120,627.51
242 $120,627.51 $1,038.07 $0.00 $682.05 $122,347.63
243 $122,347.63 $1,038.07 $0.00 $691.77 $124,077.47
244 $124,077.47 $1,038.07 $0.00 $701.55 $125,817.09
245 $125,817.09 $1,038.07 $0.00 $711.39 $127,566.55
246 $127,566.55 $1,038.07 $0.00 $721.28 $129,325.90
247 $129,325.90 $1,038.07 $0.00 $731.23 $131,095.20
248 $131,095.20 $1,038.07 $0.00 $741.23 $132,874.50
249 $132,874.50 $1,038.07 $0.00 $751.29 $134,663.86
250 $134,663.86 $1,038.07 $0.00 $761.41 $136,463.34
251 $136,463.34 $1,038.07 $0.00 $771.58 $138,272.99
252 $138,272.99 $1,038.07 $0.00 $781.82 $140,092.88
253 $140,092.88 $0.00 $140,886.13 $792.11 ($1.14)