## Savings Plan and Future Cost Estimation

 Estimated Annual Cost in 2038 \$144,714 Monthly savings required \$1,146

How much will it cost to send your child to Luther College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at \$578,855.76 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of \$1,145.53 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 \$55,805.00 Years until enrollment 18 Annual Tuition Increase 5% Current Savings \$0.00 After Tax Return on Savings 7% Years of enrollment 4

## Current Savings Shortfall

### College Savings Calculator

Discover how much will you need to start saving now to afford Luther College in the future.

## College Savings Schedule

Month Begin Deposit Withdraw Interest End
1 \$0.00 \$1,145.53 \$0.00 \$0.00 \$1,145.53
2 \$1,145.53 \$1,145.53 \$0.00 \$6.48 \$2,297.54
3 \$2,297.54 \$1,145.53 \$0.00 \$12.99 \$3,456.06
4 \$3,456.06 \$1,145.53 \$0.00 \$19.54 \$4,621.13
5 \$4,621.13 \$1,145.53 \$0.00 \$26.13 \$5,792.79
6 \$5,792.79 \$1,145.53 \$0.00 \$32.75 \$6,971.07
7 \$6,971.07 \$1,145.53 \$0.00 \$39.42 \$8,156.02
8 \$8,156.02 \$1,145.53 \$0.00 \$46.12 \$9,347.67
9 \$9,347.67 \$1,145.53 \$0.00 \$52.85 \$10,546.05
10 \$10,546.05 \$1,145.53 \$0.00 \$59.63 \$11,751.21
11 \$11,751.21 \$1,145.53 \$0.00 \$66.44 \$12,963.18
12 \$12,963.18 \$1,145.53 \$0.00 \$73.30 \$14,182.01
13 \$14,182.01 \$1,145.53 \$0.00 \$80.19 \$15,407.73
14 \$15,407.73 \$1,145.53 \$0.00 \$87.12 \$16,640.38
15 \$16,640.38 \$1,145.53 \$0.00 \$94.09 \$17,880.00
16 \$17,880.00 \$1,145.53 \$0.00 \$101.10 \$19,126.63
17 \$19,126.63 \$1,145.53 \$0.00 \$108.14 \$20,380.30
18 \$20,380.30 \$1,145.53 \$0.00 \$115.23 \$21,641.06
19 \$21,641.06 \$1,145.53 \$0.00 \$122.36 \$22,908.95
20 \$22,908.95 \$1,145.53 \$0.00 \$129.53 \$24,184.01
21 \$24,184.01 \$1,145.53 \$0.00 \$136.74 \$25,466.28
22 \$25,466.28 \$1,145.53 \$0.00 \$143.99 \$26,755.80
23 \$26,755.80 \$1,145.53 \$0.00 \$151.28 \$28,052.61
24 \$28,052.61 \$1,145.53 \$0.00 \$158.61 \$29,356.75
25 \$29,356.75 \$1,145.53 \$0.00 \$165.99 \$30,668.27
26 \$30,668.27 \$1,145.53 \$0.00 \$173.40 \$31,987.20
27 \$31,987.20 \$1,145.53 \$0.00 \$180.86 \$33,313.59
28 \$33,313.59 \$1,145.53 \$0.00 \$188.36 \$34,647.48
29 \$34,647.48 \$1,145.53 \$0.00 \$195.90 \$35,988.91
30 \$35,988.91 \$1,145.53 \$0.00 \$203.49 \$37,337.93
31 \$37,337.93 \$1,145.53 \$0.00 \$211.11 \$38,694.57
32 \$38,694.57 \$1,145.53 \$0.00 \$218.78 \$40,058.88
33 \$40,058.88 \$1,145.53 \$0.00 \$226.50 \$41,430.91
34 \$41,430.91 \$1,145.53 \$0.00 \$234.26 \$42,810.70
35 \$42,810.70 \$1,145.53 \$0.00 \$242.06 \$44,198.29
36 \$44,198.29 \$1,145.53 \$0.00 \$249.90 \$45,593.72
37 \$45,593.72 \$1,145.53 \$0.00 \$257.79 \$46,997.04
38 \$46,997.04 \$1,145.53 \$0.00 \$265.73 \$48,408.30
39 \$48,408.30 \$1,145.53 \$0.00 \$273.71 \$49,827.54
40 \$49,827.54 \$1,145.53 \$0.00 \$281.73 \$51,254.80
41 \$51,254.80 \$1,145.53 \$0.00 \$289.80 \$52,690.13
42 \$52,690.13 \$1,145.53 \$0.00 \$297.92 \$54,133.58
43 \$54,133.58 \$1,145.53 \$0.00 \$306.08 \$55,585.19
44 \$55,585.19 \$1,145.53 \$0.00 \$314.29 \$57,045.01
45 \$57,045.01 \$1,145.53 \$0.00 \$322.54 \$58,513.08
46 \$58,513.08 \$1,145.53 \$0.00 \$330.84 \$59,989.45
47 \$59,989.45 \$1,145.53 \$0.00 \$339.19 \$61,474.17
48 \$61,474.17 \$1,145.53 \$0.00 \$347.58 \$62,967.28
49 \$62,967.28 \$1,145.53 \$0.00 \$356.03 \$64,468.84
50 \$64,468.84 \$1,145.53 \$0.00 \$364.52 \$65,978.89
51 \$65,978.89 \$1,145.53 \$0.00 \$373.05 \$67,497.47
52 \$67,497.47 \$1,145.53 \$0.00 \$381.64 \$69,024.64
53 \$69,024.64 \$1,145.53 \$0.00 \$390.28 \$70,560.45
54 \$70,560.45 \$1,145.53 \$0.00 \$398.96 \$72,104.94
55 \$72,104.94 \$1,145.53 \$0.00 \$407.69 \$73,658.16
56 \$73,658.16 \$1,145.53 \$0.00 \$416.47 \$75,220.16
57 \$75,220.16 \$1,145.53 \$0.00 \$425.31 \$76,791.00
58 \$76,791.00 \$1,145.53 \$0.00 \$434.19 \$78,370.72
59 \$78,370.72 \$1,145.53 \$0.00 \$443.12 \$79,959.37
60 \$79,959.37 \$1,145.53 \$0.00 \$452.10 \$81,557.00
61 \$81,557.00 \$1,145.53 \$0.00 \$461.14 \$83,163.67
62 \$83,163.67 \$1,145.53 \$0.00 \$470.22 \$84,779.42
63 \$84,779.42 \$1,145.53 \$0.00 \$479.36 \$86,404.31
64 \$86,404.31 \$1,145.53 \$0.00 \$488.54 \$88,038.38
65 \$88,038.38 \$1,145.53 \$0.00 \$497.78 \$89,681.69
66 \$89,681.69 \$1,145.53 \$0.00 \$507.07 \$91,334.29
67 \$91,334.29 \$1,145.53 \$0.00 \$516.42 \$92,996.24
68 \$92,996.24 \$1,145.53 \$0.00 \$525.81 \$94,667.58
69 \$94,667.58 \$1,145.53 \$0.00 \$535.26 \$96,348.37
70 \$96,348.37 \$1,145.53 \$0.00 \$544.77 \$98,038.67
71 \$98,038.67 \$1,145.53 \$0.00 \$554.32 \$99,738.52
72 \$99,738.52 \$1,145.53 \$0.00 \$563.94 \$101,447.99
73 \$101,447.99 \$1,145.53 \$0.00 \$573.60 \$103,167.12
74 \$103,167.12 \$1,145.53 \$0.00 \$583.32 \$104,895.97
75 \$104,895.97 \$1,145.53 \$0.00 \$593.10 \$106,634.60
76 \$106,634.60 \$1,145.53 \$0.00 \$602.93 \$108,383.06
77 \$108,383.06 \$1,145.53 \$0.00 \$612.81 \$110,141.40
78 \$110,141.40 \$1,145.53 \$0.00 \$622.76 \$111,909.69
79 \$111,909.69 \$1,145.53 \$0.00 \$632.75 \$113,687.97
80 \$113,687.97 \$1,145.53 \$0.00 \$642.81 \$115,476.31
81 \$115,476.31 \$1,145.53 \$0.00 \$652.92 \$117,274.76
82 \$117,274.76 \$1,145.53 \$0.00 \$663.09 \$119,083.38
83 \$119,083.38 \$1,145.53 \$0.00 \$673.31 \$120,902.22
84 \$120,902.22 \$1,145.53 \$0.00 \$683.60 \$122,731.35
85 \$122,731.35 \$1,145.53 \$0.00 \$693.94 \$124,570.82
86 \$124,570.82 \$1,145.53 \$0.00 \$704.34 \$126,420.69
87 \$126,420.69 \$1,145.53 \$0.00 \$714.80 \$128,281.02
88 \$128,281.02 \$1,145.53 \$0.00 \$725.32 \$130,151.87
89 \$130,151.87 \$1,145.53 \$0.00 \$735.90 \$132,033.30
90 \$132,033.30 \$1,145.53 \$0.00 \$746.54 \$133,925.37
91 \$133,925.37 \$1,145.53 \$0.00 \$757.23 \$135,828.13
92 \$135,828.13 \$1,145.53 \$0.00 \$767.99 \$137,741.65
93 \$137,741.65 \$1,145.53 \$0.00 \$778.81 \$139,665.99
94 \$139,665.99 \$1,145.53 \$0.00 \$789.69 \$141,601.21
95 \$141,601.21 \$1,145.53 \$0.00 \$800.63 \$143,547.37
96 \$143,547.37 \$1,145.53 \$0.00 \$811.64 \$145,504.54
97 \$145,504.54 \$1,145.53 \$0.00 \$822.70 \$147,472.77
98 \$147,472.77 \$1,145.53 \$0.00 \$833.83 \$149,452.13
99 \$149,452.13 \$1,145.53 \$0.00 \$845.02 \$151,442.68
100 \$151,442.68 \$1,145.53 \$0.00 \$856.28 \$153,444.49
101 \$153,444.49 \$1,145.53 \$0.00 \$867.60 \$155,457.62
102 \$155,457.62 \$1,145.53 \$0.00 \$878.98 \$157,482.13
103 \$157,482.13 \$1,145.53 \$0.00 \$890.43 \$159,518.09
104 \$159,518.09 \$1,145.53 \$0.00 \$901.94 \$161,565.56
105 \$161,565.56 \$1,145.53 \$0.00 \$913.52 \$163,624.61
106 \$163,624.61 \$1,145.53 \$0.00 \$925.16 \$165,695.30
107 \$165,695.30 \$1,145.53 \$0.00 \$936.87 \$167,777.70
108 \$167,777.70 \$1,145.53 \$0.00 \$948.64 \$169,871.87
109 \$169,871.87 \$1,145.53 \$0.00 \$960.48 \$171,977.88
110 \$171,977.88 \$1,145.53 \$0.00 \$972.39 \$174,095.80
111 \$174,095.80 \$1,145.53 \$0.00 \$984.36 \$176,225.69
112 \$176,225.69 \$1,145.53 \$0.00 \$996.41 \$178,367.63
113 \$178,367.63 \$1,145.53 \$0.00 \$1,008.52 \$180,521.68
114 \$180,521.68 \$1,145.53 \$0.00 \$1,020.70 \$182,687.91
115 \$182,687.91 \$1,145.53 \$0.00 \$1,032.94 \$184,866.38
116 \$184,866.38 \$1,145.53 \$0.00 \$1,045.26 \$187,057.17
117 \$187,057.17 \$1,145.53 \$0.00 \$1,057.65 \$189,260.35
118 \$189,260.35 \$1,145.53 \$0.00 \$1,070.11 \$191,475.99
119 \$191,475.99 \$1,145.53 \$0.00 \$1,082.63 \$193,704.15
120 \$193,704.15 \$1,145.53 \$0.00 \$1,095.23 \$195,944.91
121 \$195,944.91 \$1,145.53 \$0.00 \$1,107.90 \$198,198.34
122 \$198,198.34 \$1,145.53 \$0.00 \$1,120.64 \$200,464.51
123 \$200,464.51 \$1,145.53 \$0.00 \$1,133.46 \$202,743.50
124 \$202,743.50 \$1,145.53 \$0.00 \$1,146.34 \$205,035.37
125 \$205,035.37 \$1,145.53 \$0.00 \$1,159.30 \$207,340.20
126 \$207,340.20 \$1,145.53 \$0.00 \$1,172.33 \$209,658.06
127 \$209,658.06 \$1,145.53 \$0.00 \$1,185.44 \$211,989.03
128 \$211,989.03 \$1,145.53 \$0.00 \$1,198.62 \$214,333.18
129 \$214,333.18 \$1,145.53 \$0.00 \$1,211.87 \$216,690.58
130 \$216,690.58 \$1,145.53 \$0.00 \$1,225.20 \$219,061.31
131 \$219,061.31 \$1,145.53 \$0.00 \$1,238.60 \$221,445.44
132 \$221,445.44 \$1,145.53 \$0.00 \$1,252.08 \$223,843.05
133 \$223,843.05 \$1,145.53 \$0.00 \$1,265.64 \$226,254.22
134 \$226,254.22 \$1,145.53 \$0.00 \$1,279.27 \$228,679.02
135 \$228,679.02 \$1,145.53 \$0.00 \$1,292.98 \$231,117.53
136 \$231,117.53 \$1,145.53 \$0.00 \$1,306.77 \$233,569.83
137 \$233,569.83 \$1,145.53 \$0.00 \$1,320.64 \$236,036.00
138 \$236,036.00 \$1,145.53 \$0.00 \$1,334.58 \$238,516.11
139 \$238,516.11 \$1,145.53 \$0.00 \$1,348.60 \$241,010.24
140 \$241,010.24 \$1,145.53 \$0.00 \$1,362.71 \$243,518.48
141 \$243,518.48 \$1,145.53 \$0.00 \$1,376.89 \$246,040.90
142 \$246,040.90 \$1,145.53 \$0.00 \$1,391.15 \$248,577.58
143 \$248,577.58 \$1,145.53 \$0.00 \$1,405.49 \$251,128.60
144 \$251,128.60 \$1,145.53 \$0.00 \$1,419.92 \$253,694.05
145 \$253,694.05 \$1,145.53 \$0.00 \$1,434.42 \$256,274.00
146 \$256,274.00 \$1,145.53 \$0.00 \$1,449.01 \$258,868.54
147 \$258,868.54 \$1,145.53 \$0.00 \$1,463.68 \$261,477.75
148 \$261,477.75 \$1,145.53 \$0.00 \$1,478.43 \$264,101.71
149 \$264,101.71 \$1,145.53 \$0.00 \$1,493.27 \$266,740.51
150 \$266,740.51 \$1,145.53 \$0.00 \$1,508.19 \$269,394.23
151 \$269,394.23 \$1,145.53 \$0.00 \$1,523.19 \$272,062.95
152 \$272,062.95 \$1,145.53 \$0.00 \$1,538.28 \$274,746.76
153 \$274,746.76 \$1,145.53 \$0.00 \$1,553.46 \$277,445.75
154 \$277,445.75 \$1,145.53 \$0.00 \$1,568.72 \$280,160.00
155 \$280,160.00 \$1,145.53 \$0.00 \$1,584.07 \$282,889.60
156 \$282,889.60 \$1,145.53 \$0.00 \$1,599.50 \$285,634.63
157 \$285,634.63 \$1,145.53 \$0.00 \$1,615.02 \$288,395.18
158 \$288,395.18 \$1,145.53 \$0.00 \$1,630.63 \$291,171.34
159 \$291,171.34 \$1,145.53 \$0.00 \$1,646.33 \$293,963.20
160 \$293,963.20 \$1,145.53 \$0.00 \$1,662.11 \$296,770.84
161 \$296,770.84 \$1,145.53 \$0.00 \$1,677.99 \$299,594.36
162 \$299,594.36 \$1,145.53 \$0.00 \$1,693.95 \$302,433.84
163 \$302,433.84 \$1,145.53 \$0.00 \$1,710.00 \$305,289.37
164 \$305,289.37 \$1,145.53 \$0.00 \$1,726.15 \$308,161.05
165 \$308,161.05 \$1,145.53 \$0.00 \$1,742.39 \$311,048.97
166 \$311,048.97 \$1,145.53 \$0.00 \$1,758.72 \$313,953.22
167 \$313,953.22 \$1,145.53 \$0.00 \$1,775.14 \$316,873.89
168 \$316,873.89 \$1,145.53 \$0.00 \$1,791.65 \$319,811.07
169 \$319,811.07 \$1,145.53 \$0.00 \$1,808.26 \$322,764.86
170 \$322,764.86 \$1,145.53 \$0.00 \$1,824.96 \$325,735.35
171 \$325,735.35 \$1,145.53 \$0.00 \$1,841.76 \$328,722.64
172 \$328,722.64 \$1,145.53 \$0.00 \$1,858.65 \$331,726.82
173 \$331,726.82 \$1,145.53 \$0.00 \$1,875.63 \$334,747.98
174 \$334,747.98 \$1,145.53 \$0.00 \$1,892.71 \$337,786.22
175 \$337,786.22 \$1,145.53 \$0.00 \$1,909.89 \$340,841.64
176 \$340,841.64 \$1,145.53 \$0.00 \$1,927.17 \$343,914.34
177 \$343,914.34 \$1,145.53 \$0.00 \$1,944.54 \$347,004.41
178 \$347,004.41 \$1,145.53 \$0.00 \$1,962.01 \$350,111.95
179 \$350,111.95 \$1,145.53 \$0.00 \$1,979.58 \$353,237.06
180 \$353,237.06 \$1,145.53 \$0.00 \$1,997.25 \$356,379.84
181 \$356,379.84 \$1,145.53 \$0.00 \$2,015.02 \$359,540.39
182 \$359,540.39 \$1,145.53 \$0.00 \$2,032.89 \$362,718.81
183 \$362,718.81 \$1,145.53 \$0.00 \$2,050.86 \$365,915.20
184 \$365,915.20 \$1,145.53 \$0.00 \$2,068.94 \$369,129.67
185 \$369,129.67 \$1,145.53 \$0.00 \$2,087.11 \$372,362.31
186 \$372,362.31 \$1,145.53 \$0.00 \$2,105.39 \$375,613.23
187 \$375,613.23 \$1,145.53 \$0.00 \$2,123.77 \$378,882.53
188 \$378,882.53 \$1,145.53 \$0.00 \$2,142.26 \$382,170.32
189 \$382,170.32 \$1,145.53 \$0.00 \$2,160.85 \$385,476.70
190 \$385,476.70 \$1,145.53 \$0.00 \$2,179.54 \$388,801.77
191 \$388,801.77 \$1,145.53 \$0.00 \$2,198.34 \$392,145.64
192 \$392,145.64 \$1,145.53 \$0.00 \$2,217.25 \$395,508.42
193 \$395,508.42 \$1,145.53 \$0.00 \$2,236.26 \$398,890.21
194 \$398,890.21 \$1,145.53 \$0.00 \$2,255.38 \$402,291.12
195 \$402,291.12 \$1,145.53 \$0.00 \$2,274.61 \$405,711.26
196 \$405,711.26 \$1,145.53 \$0.00 \$2,293.95 \$409,150.74
197 \$409,150.74 \$1,145.53 \$0.00 \$2,313.40 \$412,609.67
198 \$412,609.67 \$1,145.53 \$0.00 \$2,332.96 \$416,088.16
199 \$416,088.16 \$1,145.53 \$0.00 \$2,352.62 \$419,586.31
200 \$419,586.31 \$1,145.53 \$0.00 \$2,372.40 \$423,104.24
201 \$423,104.24 \$1,145.53 \$0.00 \$2,392.29 \$426,642.06
202 \$426,642.06 \$1,145.53 \$0.00 \$2,412.30 \$430,199.89
203 \$430,199.89 \$1,145.53 \$0.00 \$2,432.41 \$433,777.83
204 \$433,777.83 \$1,145.53 \$0.00 \$2,452.64 \$437,376.00
205 \$437,376.00 \$1,145.53 \$0.00 \$2,472.99 \$440,994.52
206 \$440,994.52 \$1,145.53 \$0.00 \$2,493.45 \$444,633.50
207 \$444,633.50 \$1,145.53 \$0.00 \$2,514.02 \$448,293.05
208 \$448,293.05 \$1,145.53 \$0.00 \$2,534.71 \$451,973.29
209 \$451,973.29 \$1,145.53 \$0.00 \$2,555.52 \$455,674.34
210 \$455,674.34 \$1,145.53 \$0.00 \$2,576.45 \$459,396.32
211 \$459,396.32 \$1,145.53 \$0.00 \$2,597.49 \$463,139.34
212 \$463,139.34 \$1,145.53 \$0.00 \$2,618.66 \$466,903.53
213 \$466,903.53 \$1,145.53 \$0.00 \$2,639.94 \$470,689.00
214 \$470,689.00 \$1,145.53 \$0.00 \$2,661.34 \$474,495.87
215 \$474,495.87 \$1,145.53 \$0.00 \$2,682.87 \$478,324.27
216 \$478,324.27 \$1,145.53 \$0.00 \$2,704.51 \$482,174.31
217 \$482,174.31 \$1,145.53 \$134,301.39 \$2,726.28 \$351,744.73
218 \$351,744.73 \$1,145.53 \$0.00 \$1,988.82 \$354,879.08
219 \$354,879.08 \$1,145.53 \$0.00 \$2,006.54 \$358,031.15
220 \$358,031.15 \$1,145.53 \$0.00 \$2,024.36 \$361,201.04
221 \$361,201.04 \$1,145.53 \$0.00 \$2,042.28 \$364,388.85
222 \$364,388.85 \$1,145.53 \$0.00 \$2,060.31 \$367,594.69
223 \$367,594.69 \$1,145.53 \$0.00 \$2,078.43 \$370,818.65
224 \$370,818.65 \$1,145.53 \$0.00 \$2,096.66 \$374,060.84
225 \$374,060.84 \$1,145.53 \$0.00 \$2,114.99 \$377,321.36
226 \$377,321.36 \$1,145.53 \$0.00 \$2,133.43 \$380,600.32
227 \$380,600.32 \$1,145.53 \$0.00 \$2,151.97 \$383,897.82
228 \$383,897.82 \$1,145.53 \$0.00 \$2,170.61 \$387,213.96
229 \$387,213.96 \$1,145.53 \$141,016.46 \$2,189.36 \$249,532.39
230 \$249,532.39 \$1,145.53 \$0.00 \$1,410.89 \$252,088.81
231 \$252,088.81 \$1,145.53 \$0.00 \$1,425.35 \$254,659.69
232 \$254,659.69 \$1,145.53 \$0.00 \$1,439.88 \$257,245.10
233 \$257,245.10 \$1,145.53 \$0.00 \$1,454.50 \$259,845.13
234 \$259,845.13 \$1,145.53 \$0.00 \$1,469.20 \$262,459.86
235 \$262,459.86 \$1,145.53 \$0.00 \$1,483.99 \$265,089.38
236 \$265,089.38 \$1,145.53 \$0.00 \$1,498.85 \$267,733.76
237 \$267,733.76 \$1,145.53 \$0.00 \$1,513.81 \$270,393.10
238 \$270,393.10 \$1,145.53 \$0.00 \$1,528.84 \$273,067.47
239 \$273,067.47 \$1,145.53 \$0.00 \$1,543.96 \$275,756.96
240 \$275,756.96 \$1,145.53 \$0.00 \$1,559.17 \$278,461.66
241 \$278,461.66 \$1,145.53 \$148,067.28 \$1,574.46 \$133,114.37
242 \$133,114.37 \$1,145.53 \$0.00 \$752.65 \$135,012.55
243 \$135,012.55 \$1,145.53 \$0.00 \$763.38 \$136,921.46
244 \$136,921.46 \$1,145.53 \$0.00 \$774.17 \$138,841.16
245 \$138,841.16 \$1,145.53 \$0.00 \$785.03 \$140,771.72
246 \$140,771.72 \$1,145.53 \$0.00 \$795.94 \$142,713.19
247 \$142,713.19 \$1,145.53 \$0.00 \$806.92 \$144,665.64
248 \$144,665.64 \$1,145.53 \$0.00 \$817.96 \$146,629.13
249 \$146,629.13 \$1,145.53 \$0.00 \$829.06 \$148,603.72
250 \$148,603.72 \$1,145.53 \$0.00 \$840.23 \$150,589.48
251 \$150,589.48 \$1,145.53 \$0.00 \$851.45 \$152,586.46
252 \$152,586.46 \$1,145.53 \$0.00 \$862.75 \$154,594.74
253 \$154,594.74 \$0.00 \$155,470.64 \$874.10 (\$1.80)