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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$177,121
Monthly savings required$1,402

How much will it cost to send your child to Grinnell College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $708,485.02 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,402.06 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$68,302.00
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 $1,402.06 $0.00 $0.00 $1,402.06
2 $1,402.06 $1,402.06 $0.00 $7.93 $2,812.05
3 $2,812.05 $1,402.06 $0.00 $15.90 $4,230.01
4 $4,230.01 $1,402.06 $0.00 $23.92 $5,655.99
5 $5,655.99 $1,402.06 $0.00 $31.98 $7,090.03
6 $7,090.03 $1,402.06 $0.00 $40.09 $8,532.18
7 $8,532.18 $1,402.06 $0.00 $48.24 $9,982.48
8 $9,982.48 $1,402.06 $0.00 $56.44 $11,440.98
9 $11,440.98 $1,402.06 $0.00 $64.69 $12,907.73
10 $12,907.73 $1,402.06 $0.00 $72.98 $14,382.77
11 $14,382.77 $1,402.06 $0.00 $81.32 $15,866.15
12 $15,866.15 $1,402.06 $0.00 $89.71 $17,357.92
13 $17,357.92 $1,402.06 $0.00 $98.14 $18,858.12
14 $18,858.12 $1,402.06 $0.00 $106.63 $20,366.81
15 $20,366.81 $1,402.06 $0.00 $115.16 $21,884.03
16 $21,884.03 $1,402.06 $0.00 $123.74 $23,409.83
17 $23,409.83 $1,402.06 $0.00 $132.36 $24,944.25
18 $24,944.25 $1,402.06 $0.00 $141.04 $26,487.35
19 $26,487.35 $1,402.06 $0.00 $149.76 $28,039.17
20 $28,039.17 $1,402.06 $0.00 $158.54 $29,599.77
21 $29,599.77 $1,402.06 $0.00 $167.36 $31,169.19
22 $31,169.19 $1,402.06 $0.00 $176.24 $32,747.49
23 $32,747.49 $1,402.06 $0.00 $185.16 $34,334.71
24 $34,334.71 $1,402.06 $0.00 $194.13 $35,930.90
25 $35,930.90 $1,402.06 $0.00 $203.16 $37,536.12
26 $37,536.12 $1,402.06 $0.00 $212.23 $39,150.41
27 $39,150.41 $1,402.06 $0.00 $221.36 $40,773.83
28 $40,773.83 $1,402.06 $0.00 $230.54 $42,406.43
29 $42,406.43 $1,402.06 $0.00 $239.77 $44,048.26
30 $44,048.26 $1,402.06 $0.00 $249.06 $45,699.38
31 $45,699.38 $1,402.06 $0.00 $258.39 $47,359.83
32 $47,359.83 $1,402.06 $0.00 $267.78 $49,029.67
33 $49,029.67 $1,402.06 $0.00 $277.22 $50,708.95
34 $50,708.95 $1,402.06 $0.00 $286.72 $52,397.73
35 $52,397.73 $1,402.06 $0.00 $296.26 $54,096.05
36 $54,096.05 $1,402.06 $0.00 $305.87 $55,803.98
37 $55,803.98 $1,402.06 $0.00 $315.52 $57,521.56
38 $57,521.56 $1,402.06 $0.00 $325.24 $59,248.86
39 $59,248.86 $1,402.06 $0.00 $335.00 $60,985.92
40 $60,985.92 $1,402.06 $0.00 $344.82 $62,732.80
41 $62,732.80 $1,402.06 $0.00 $354.70 $64,489.56
42 $64,489.56 $1,402.06 $0.00 $364.63 $66,256.25
43 $66,256.25 $1,402.06 $0.00 $374.62 $68,032.93
44 $68,032.93 $1,402.06 $0.00 $384.67 $69,819.66
45 $69,819.66 $1,402.06 $0.00 $394.77 $71,616.49
46 $71,616.49 $1,402.06 $0.00 $404.93 $73,423.48
47 $73,423.48 $1,402.06 $0.00 $415.15 $75,240.69
48 $75,240.69 $1,402.06 $0.00 $425.42 $77,068.17
49 $77,068.17 $1,402.06 $0.00 $435.75 $78,905.98
50 $78,905.98 $1,402.06 $0.00 $446.15 $80,754.19
51 $80,754.19 $1,402.06 $0.00 $456.60 $82,612.85
52 $82,612.85 $1,402.06 $0.00 $467.11 $84,482.02
53 $84,482.02 $1,402.06 $0.00 $477.67 $86,361.75
54 $86,361.75 $1,402.06 $0.00 $488.30 $88,252.11
55 $88,252.11 $1,402.06 $0.00 $498.99 $90,153.16
56 $90,153.16 $1,402.06 $0.00 $509.74 $92,064.96
57 $92,064.96 $1,402.06 $0.00 $520.55 $93,987.57
58 $93,987.57 $1,402.06 $0.00 $531.42 $95,921.05
59 $95,921.05 $1,402.06 $0.00 $542.35 $97,865.46
60 $97,865.46 $1,402.06 $0.00 $553.35 $99,820.87
61 $99,820.87 $1,402.06 $0.00 $564.40 $101,787.33
62 $101,787.33 $1,402.06 $0.00 $575.52 $103,764.91
63 $103,764.91 $1,402.06 $0.00 $586.70 $105,753.67
64 $105,753.67 $1,402.06 $0.00 $597.95 $107,753.68
65 $107,753.68 $1,402.06 $0.00 $609.25 $109,764.99
66 $109,764.99 $1,402.06 $0.00 $620.63 $111,787.68
67 $111,787.68 $1,402.06 $0.00 $632.06 $113,821.80
68 $113,821.80 $1,402.06 $0.00 $643.57 $115,867.43
69 $115,867.43 $1,402.06 $0.00 $655.13 $117,924.62
70 $117,924.62 $1,402.06 $0.00 $666.76 $119,993.44
71 $119,993.44 $1,402.06 $0.00 $678.46 $122,073.96
72 $122,073.96 $1,402.06 $0.00 $690.22 $124,166.24
73 $124,166.24 $1,402.06 $0.00 $702.05 $126,270.35
74 $126,270.35 $1,402.06 $0.00 $713.95 $128,386.36
75 $128,386.36 $1,402.06 $0.00 $725.92 $130,514.34
76 $130,514.34 $1,402.06 $0.00 $737.95 $132,654.35
77 $132,654.35 $1,402.06 $0.00 $750.05 $134,806.46
78 $134,806.46 $1,402.06 $0.00 $762.22 $136,970.74
79 $136,970.74 $1,402.06 $0.00 $774.45 $139,147.25
80 $139,147.25 $1,402.06 $0.00 $786.76 $141,336.07
81 $141,336.07 $1,402.06 $0.00 $799.13 $143,537.26
82 $143,537.26 $1,402.06 $0.00 $811.58 $145,750.90
83 $145,750.90 $1,402.06 $0.00 $824.10 $147,977.06
84 $147,977.06 $1,402.06 $0.00 $836.68 $150,215.80
85 $150,215.80 $1,402.06 $0.00 $849.34 $152,467.20
86 $152,467.20 $1,402.06 $0.00 $862.07 $154,731.33
87 $154,731.33 $1,402.06 $0.00 $874.87 $157,008.26
88 $157,008.26 $1,402.06 $0.00 $887.75 $159,298.07
89 $159,298.07 $1,402.06 $0.00 $900.69 $161,600.82
90 $161,600.82 $1,402.06 $0.00 $913.71 $163,916.59
91 $163,916.59 $1,402.06 $0.00 $926.81 $166,245.46
92 $166,245.46 $1,402.06 $0.00 $939.98 $168,587.50
93 $168,587.50 $1,402.06 $0.00 $953.22 $170,942.78
94 $170,942.78 $1,402.06 $0.00 $966.54 $173,311.38
95 $173,311.38 $1,402.06 $0.00 $979.93 $175,693.37
96 $175,693.37 $1,402.06 $0.00 $993.40 $178,088.83
97 $178,088.83 $1,402.06 $0.00 $1,006.94 $180,497.83
98 $180,497.83 $1,402.06 $0.00 $1,020.56 $182,920.45
99 $182,920.45 $1,402.06 $0.00 $1,034.26 $185,356.77
100 $185,356.77 $1,402.06 $0.00 $1,048.03 $187,806.86
101 $187,806.86 $1,402.06 $0.00 $1,061.89 $190,270.81
102 $190,270.81 $1,402.06 $0.00 $1,075.82 $192,748.69
103 $192,748.69 $1,402.06 $0.00 $1,089.83 $195,240.58
104 $195,240.58 $1,402.06 $0.00 $1,103.92 $197,746.56
105 $197,746.56 $1,402.06 $0.00 $1,118.09 $200,266.71
106 $200,266.71 $1,402.06 $0.00 $1,132.34 $202,801.11
107 $202,801.11 $1,402.06 $0.00 $1,146.67 $205,349.84
108 $205,349.84 $1,402.06 $0.00 $1,161.08 $207,912.98
109 $207,912.98 $1,402.06 $0.00 $1,175.57 $210,490.61
110 $210,490.61 $1,402.06 $0.00 $1,190.14 $213,082.81
111 $213,082.81 $1,402.06 $0.00 $1,204.80 $215,689.67
112 $215,689.67 $1,402.06 $0.00 $1,219.54 $218,311.27
113 $218,311.27 $1,402.06 $0.00 $1,234.36 $220,947.69
114 $220,947.69 $1,402.06 $0.00 $1,249.27 $223,599.02
115 $223,599.02 $1,402.06 $0.00 $1,264.26 $226,265.34
116 $226,265.34 $1,402.06 $0.00 $1,279.34 $228,946.74
117 $228,946.74 $1,402.06 $0.00 $1,294.50 $231,643.30
118 $231,643.30 $1,402.06 $0.00 $1,309.74 $234,355.10
119 $234,355.10 $1,402.06 $0.00 $1,325.08 $237,082.24
120 $237,082.24 $1,402.06 $0.00 $1,340.50 $239,824.80
121 $239,824.80 $1,402.06 $0.00 $1,356.00 $242,582.86
122 $242,582.86 $1,402.06 $0.00 $1,371.60 $245,356.52
123 $245,356.52 $1,402.06 $0.00 $1,387.28 $248,145.86
124 $248,145.86 $1,402.06 $0.00 $1,403.05 $250,950.97
125 $250,950.97 $1,402.06 $0.00 $1,418.91 $253,771.94
126 $253,771.94 $1,402.06 $0.00 $1,434.86 $256,608.86
127 $256,608.86 $1,402.06 $0.00 $1,450.90 $259,461.82
128 $259,461.82 $1,402.06 $0.00 $1,467.03 $262,330.91
129 $262,330.91 $1,402.06 $0.00 $1,483.26 $265,216.23
130 $265,216.23 $1,402.06 $0.00 $1,499.57 $268,117.86
131 $268,117.86 $1,402.06 $0.00 $1,515.98 $271,035.90
132 $271,035.90 $1,402.06 $0.00 $1,532.48 $273,970.44
133 $273,970.44 $1,402.06 $0.00 $1,549.07 $276,921.57
134 $276,921.57 $1,402.06 $0.00 $1,565.75 $279,889.38
135 $279,889.38 $1,402.06 $0.00 $1,582.54 $282,873.98
136 $282,873.98 $1,402.06 $0.00 $1,599.41 $285,875.45
137 $285,875.45 $1,402.06 $0.00 $1,616.38 $288,893.89
138 $288,893.89 $1,402.06 $0.00 $1,633.45 $291,929.40
139 $291,929.40 $1,402.06 $0.00 $1,650.61 $294,982.07
140 $294,982.07 $1,402.06 $0.00 $1,667.87 $298,052.00
141 $298,052.00 $1,402.06 $0.00 $1,685.23 $301,139.29
142 $301,139.29 $1,402.06 $0.00 $1,702.69 $304,244.04
143 $304,244.04 $1,402.06 $0.00 $1,720.24 $307,366.34
144 $307,366.34 $1,402.06 $0.00 $1,737.89 $310,506.29
145 $310,506.29 $1,402.06 $0.00 $1,755.65 $313,664.00
146 $313,664.00 $1,402.06 $0.00 $1,773.50 $316,839.56
147 $316,839.56 $1,402.06 $0.00 $1,791.46 $320,033.08
148 $320,033.08 $1,402.06 $0.00 $1,809.51 $323,244.65
149 $323,244.65 $1,402.06 $0.00 $1,827.67 $326,474.38
150 $326,474.38 $1,402.06 $0.00 $1,845.93 $329,722.37
151 $329,722.37 $1,402.06 $0.00 $1,864.30 $332,988.73
152 $332,988.73 $1,402.06 $0.00 $1,882.77 $336,273.56
153 $336,273.56 $1,402.06 $0.00 $1,901.34 $339,576.96
154 $339,576.96 $1,402.06 $0.00 $1,920.02 $342,899.04
155 $342,899.04 $1,402.06 $0.00 $1,938.80 $346,239.90
156 $346,239.90 $1,402.06 $0.00 $1,957.69 $349,599.65
157 $349,599.65 $1,402.06 $0.00 $1,976.69 $352,978.40
158 $352,978.40 $1,402.06 $0.00 $1,995.79 $356,376.25
159 $356,376.25 $1,402.06 $0.00 $2,015.00 $359,793.31
160 $359,793.31 $1,402.06 $0.00 $2,034.32 $363,229.69
161 $363,229.69 $1,402.06 $0.00 $2,053.75 $366,685.50
162 $366,685.50 $1,402.06 $0.00 $2,073.29 $370,160.85
163 $370,160.85 $1,402.06 $0.00 $2,092.94 $373,655.85
164 $373,655.85 $1,402.06 $0.00 $2,112.70 $377,170.61
165 $377,170.61 $1,402.06 $0.00 $2,132.58 $380,705.25
166 $380,705.25 $1,402.06 $0.00 $2,152.56 $384,259.87
167 $384,259.87 $1,402.06 $0.00 $2,172.66 $387,834.59
168 $387,834.59 $1,402.06 $0.00 $2,192.87 $391,429.52
169 $391,429.52 $1,402.06 $0.00 $2,213.20 $395,044.78
170 $395,044.78 $1,402.06 $0.00 $2,233.64 $398,680.48
171 $398,680.48 $1,402.06 $0.00 $2,254.20 $402,336.74
172 $402,336.74 $1,402.06 $0.00 $2,274.87 $406,013.67
173 $406,013.67 $1,402.06 $0.00 $2,295.66 $409,711.39
174 $409,711.39 $1,402.06 $0.00 $2,316.57 $413,430.02
175 $413,430.02 $1,402.06 $0.00 $2,337.59 $417,169.67
176 $417,169.67 $1,402.06 $0.00 $2,358.74 $420,930.47
177 $420,930.47 $1,402.06 $0.00 $2,380.00 $424,712.53
178 $424,712.53 $1,402.06 $0.00 $2,401.39 $428,515.98
179 $428,515.98 $1,402.06 $0.00 $2,422.89 $432,340.93
180 $432,340.93 $1,402.06 $0.00 $2,444.52 $436,187.51
181 $436,187.51 $1,402.06 $0.00 $2,466.27 $440,055.84
182 $440,055.84 $1,402.06 $0.00 $2,488.14 $443,946.04
183 $443,946.04 $1,402.06 $0.00 $2,510.14 $447,858.24
184 $447,858.24 $1,402.06 $0.00 $2,532.26 $451,792.56
185 $451,792.56 $1,402.06 $0.00 $2,554.50 $455,749.12
186 $455,749.12 $1,402.06 $0.00 $2,576.87 $459,728.05
187 $459,728.05 $1,402.06 $0.00 $2,599.37 $463,729.48
188 $463,729.48 $1,402.06 $0.00 $2,621.99 $467,753.53
189 $467,753.53 $1,402.06 $0.00 $2,644.75 $471,800.34
190 $471,800.34 $1,402.06 $0.00 $2,667.63 $475,870.03
191 $475,870.03 $1,402.06 $0.00 $2,690.64 $479,962.73
192 $479,962.73 $1,402.06 $0.00 $2,713.78 $484,078.57
193 $484,078.57 $1,402.06 $0.00 $2,737.05 $488,217.68
194 $488,217.68 $1,402.06 $0.00 $2,760.45 $492,380.19
195 $492,380.19 $1,402.06 $0.00 $2,783.99 $496,566.24
196 $496,566.24 $1,402.06 $0.00 $2,807.66 $500,775.96
197 $500,775.96 $1,402.06 $0.00 $2,831.46 $505,009.48
198 $505,009.48 $1,402.06 $0.00 $2,855.40 $509,266.94
199 $509,266.94 $1,402.06 $0.00 $2,879.47 $513,548.47
200 $513,548.47 $1,402.06 $0.00 $2,903.68 $517,854.21
201 $517,854.21 $1,402.06 $0.00 $2,928.02 $522,184.29
202 $522,184.29 $1,402.06 $0.00 $2,952.51 $526,538.86
203 $526,538.86 $1,402.06 $0.00 $2,977.13 $530,918.05
204 $530,918.05 $1,402.06 $0.00 $3,001.89 $535,322.00
205 $535,322.00 $1,402.06 $0.00 $3,026.79 $539,750.85
206 $539,750.85 $1,402.06 $0.00 $3,051.83 $544,204.74
207 $544,204.74 $1,402.06 $0.00 $3,077.01 $548,683.81
208 $548,683.81 $1,402.06 $0.00 $3,102.34 $553,188.21
209 $553,188.21 $1,402.06 $0.00 $3,127.81 $557,718.08
210 $557,718.08 $1,402.06 $0.00 $3,153.42 $562,273.56
211 $562,273.56 $1,402.06 $0.00 $3,179.18 $566,854.80
212 $566,854.80 $1,402.06 $0.00 $3,205.08 $571,461.94
213 $571,461.94 $1,402.06 $0.00 $3,231.13 $576,095.13
214 $576,095.13 $1,402.06 $0.00 $3,257.33 $580,754.52
215 $580,754.52 $1,402.06 $0.00 $3,283.67 $585,440.25
216 $585,440.25 $1,402.06 $0.00 $3,310.16 $590,152.47
217 $590,152.47 $1,402.06 $164,376.91 $3,336.81 $430,514.43
218 $430,514.43 $1,402.06 $0.00 $2,434.19 $434,350.68
219 $434,350.68 $1,402.06 $0.00 $2,455.88 $438,208.62
220 $438,208.62 $1,402.06 $0.00 $2,477.70 $442,088.38
221 $442,088.38 $1,402.06 $0.00 $2,499.63 $445,990.07
222 $445,990.07 $1,402.06 $0.00 $2,521.69 $449,913.82
223 $449,913.82 $1,402.06 $0.00 $2,543.88 $453,859.76
224 $453,859.76 $1,402.06 $0.00 $2,566.19 $457,828.01
225 $457,828.01 $1,402.06 $0.00 $2,588.63 $461,818.70
226 $461,818.70 $1,402.06 $0.00 $2,611.19 $465,831.95
227 $465,831.95 $1,402.06 $0.00 $2,633.88 $469,867.89
228 $469,867.89 $1,402.06 $0.00 $2,656.70 $473,926.65
229 $473,926.65 $1,402.06 $172,595.75 $2,679.65 $305,412.61
230 $305,412.61 $1,402.06 $0.00 $1,726.85 $308,541.52
231 $308,541.52 $1,402.06 $0.00 $1,744.54 $311,688.12
232 $311,688.12 $1,402.06 $0.00 $1,762.33 $314,852.51
233 $314,852.51 $1,402.06 $0.00 $1,780.22 $318,034.79
234 $318,034.79 $1,402.06 $0.00 $1,798.21 $321,235.06
235 $321,235.06 $1,402.06 $0.00 $1,816.31 $324,453.43
236 $324,453.43 $1,402.06 $0.00 $1,834.51 $327,690.00
237 $327,690.00 $1,402.06 $0.00 $1,852.81 $330,944.87
238 $330,944.87 $1,402.06 $0.00 $1,871.21 $334,218.14
239 $334,218.14 $1,402.06 $0.00 $1,889.72 $337,509.92
240 $337,509.92 $1,402.06 $0.00 $1,908.33 $340,820.31
241 $340,820.31 $1,402.06 $181,225.54 $1,927.05 $162,923.88
242 $162,923.88 $1,402.06 $0.00 $921.20 $165,247.14
243 $165,247.14 $1,402.06 $0.00 $934.33 $167,583.53
244 $167,583.53 $1,402.06 $0.00 $947.54 $169,933.13
245 $169,933.13 $1,402.06 $0.00 $960.83 $172,296.02
246 $172,296.02 $1,402.06 $0.00 $974.19 $174,672.27
247 $174,672.27 $1,402.06 $0.00 $987.62 $177,061.95
248 $177,061.95 $1,402.06 $0.00 $1,001.13 $179,465.14
249 $179,465.14 $1,402.06 $0.00 $1,014.72 $181,881.92
250 $181,881.92 $1,402.06 $0.00 $1,028.39 $184,312.37
251 $184,312.37 $1,402.06 $0.00 $1,042.13 $186,756.56
252 $186,756.56 $1,402.06 $0.00 $1,055.95 $189,214.57
253 $189,214.57 $0.00 $190,286.82 $1,069.85 ($2.40)