Savings Plan and Future Cost Estimation for Centre College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$152,247
Monthly savings required$1,205

How much will it cost to send your child to Centre College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $608,988.83 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,205.17 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$58,710.00
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 $1,205.17 $0.00 $0.00 $1,205.17
2 $1,205.17 $1,205.17 $0.00 $6.81 $2,417.15
3 $2,417.15 $1,205.17 $0.00 $13.67 $3,635.99
4 $3,635.99 $1,205.17 $0.00 $20.56 $4,861.72
5 $4,861.72 $1,205.17 $0.00 $27.49 $6,094.38
6 $6,094.38 $1,205.17 $0.00 $34.46 $7,334.01
7 $7,334.01 $1,205.17 $0.00 $41.47 $8,580.65
8 $8,580.65 $1,205.17 $0.00 $48.52 $9,834.34
9 $9,834.34 $1,205.17 $0.00 $55.60 $11,095.11
10 $11,095.11 $1,205.17 $0.00 $62.73 $12,363.01
11 $12,363.01 $1,205.17 $0.00 $69.90 $13,638.08
12 $13,638.08 $1,205.17 $0.00 $77.11 $14,920.36
13 $14,920.36 $1,205.17 $0.00 $84.36 $16,209.89
14 $16,209.89 $1,205.17 $0.00 $91.65 $17,506.71
15 $17,506.71 $1,205.17 $0.00 $98.99 $18,810.87
16 $18,810.87 $1,205.17 $0.00 $106.36 $20,122.40
17 $20,122.40 $1,205.17 $0.00 $113.77 $21,441.34
18 $21,441.34 $1,205.17 $0.00 $121.23 $22,767.74
19 $22,767.74 $1,205.17 $0.00 $128.73 $24,101.64
20 $24,101.64 $1,205.17 $0.00 $136.27 $25,443.08
21 $25,443.08 $1,205.17 $0.00 $143.86 $26,792.11
22 $26,792.11 $1,205.17 $0.00 $151.49 $28,148.77
23 $28,148.77 $1,205.17 $0.00 $159.16 $29,513.10
24 $29,513.10 $1,205.17 $0.00 $166.87 $30,885.14
25 $30,885.14 $1,205.17 $0.00 $174.63 $32,264.94
26 $32,264.94 $1,205.17 $0.00 $182.43 $33,652.54
27 $33,652.54 $1,205.17 $0.00 $190.28 $35,047.99
28 $35,047.99 $1,205.17 $0.00 $198.17 $36,451.33
29 $36,451.33 $1,205.17 $0.00 $206.10 $37,862.60
30 $37,862.60 $1,205.17 $0.00 $214.08 $39,281.85
31 $39,281.85 $1,205.17 $0.00 $222.11 $40,709.13
32 $40,709.13 $1,205.17 $0.00 $230.18 $42,144.48
33 $42,144.48 $1,205.17 $0.00 $238.29 $43,587.94
34 $43,587.94 $1,205.17 $0.00 $246.45 $45,039.56
35 $45,039.56 $1,205.17 $0.00 $254.66 $46,499.39
36 $46,499.39 $1,205.17 $0.00 $262.91 $47,967.47
37 $47,967.47 $1,205.17 $0.00 $271.22 $49,443.86
38 $49,443.86 $1,205.17 $0.00 $279.56 $50,928.59
39 $50,928.59 $1,205.17 $0.00 $287.96 $52,421.72
40 $52,421.72 $1,205.17 $0.00 $296.40 $53,923.29
41 $53,923.29 $1,205.17 $0.00 $304.89 $55,433.35
42 $55,433.35 $1,205.17 $0.00 $313.43 $56,951.95
43 $56,951.95 $1,205.17 $0.00 $322.01 $58,479.13
44 $58,479.13 $1,205.17 $0.00 $330.65 $60,014.95
45 $60,014.95 $1,205.17 $0.00 $339.33 $61,559.45
46 $61,559.45 $1,205.17 $0.00 $348.07 $63,112.69
47 $63,112.69 $1,205.17 $0.00 $356.85 $64,674.71
48 $64,674.71 $1,205.17 $0.00 $365.68 $66,245.56
49 $66,245.56 $1,205.17 $0.00 $374.56 $67,825.29
50 $67,825.29 $1,205.17 $0.00 $383.49 $69,413.95
51 $69,413.95 $1,205.17 $0.00 $392.48 $71,011.60
52 $71,011.60 $1,205.17 $0.00 $401.51 $72,618.28
53 $72,618.28 $1,205.17 $0.00 $410.59 $74,234.04
54 $74,234.04 $1,205.17 $0.00 $419.73 $75,858.94
55 $75,858.94 $1,205.17 $0.00 $428.92 $77,493.03
56 $77,493.03 $1,205.17 $0.00 $438.16 $79,136.36
57 $79,136.36 $1,205.17 $0.00 $447.45 $80,788.98
58 $80,788.98 $1,205.17 $0.00 $456.79 $82,450.94
59 $82,450.94 $1,205.17 $0.00 $466.19 $84,122.30
60 $84,122.30 $1,205.17 $0.00 $475.64 $85,803.11
61 $85,803.11 $1,205.17 $0.00 $485.14 $87,493.42
62 $87,493.42 $1,205.17 $0.00 $494.70 $89,193.29
63 $89,193.29 $1,205.17 $0.00 $504.31 $90,902.77
64 $90,902.77 $1,205.17 $0.00 $513.98 $92,621.92
65 $92,621.92 $1,205.17 $0.00 $523.70 $94,350.79
66 $94,350.79 $1,205.17 $0.00 $533.47 $96,089.43
67 $96,089.43 $1,205.17 $0.00 $543.30 $97,837.90
68 $97,837.90 $1,205.17 $0.00 $553.19 $99,596.26
69 $99,596.26 $1,205.17 $0.00 $563.13 $101,364.56
70 $101,364.56 $1,205.17 $0.00 $573.13 $103,142.86
71 $103,142.86 $1,205.17 $0.00 $583.18 $104,931.21
72 $104,931.21 $1,205.17 $0.00 $593.30 $106,729.68
73 $106,729.68 $1,205.17 $0.00 $603.47 $108,538.32
74 $108,538.32 $1,205.17 $0.00 $613.69 $110,357.18
75 $110,357.18 $1,205.17 $0.00 $623.98 $112,186.33
76 $112,186.33 $1,205.17 $0.00 $634.32 $114,025.82
77 $114,025.82 $1,205.17 $0.00 $644.72 $115,875.71
78 $115,875.71 $1,205.17 $0.00 $655.18 $117,736.06
79 $117,736.06 $1,205.17 $0.00 $665.70 $119,606.93
80 $119,606.93 $1,205.17 $0.00 $676.27 $121,488.37
81 $121,488.37 $1,205.17 $0.00 $686.91 $123,380.45
82 $123,380.45 $1,205.17 $0.00 $697.61 $125,283.23
83 $125,283.23 $1,205.17 $0.00 $708.37 $127,196.77
84 $127,196.77 $1,205.17 $0.00 $719.19 $129,121.13
85 $129,121.13 $1,205.17 $0.00 $730.07 $131,056.37
86 $131,056.37 $1,205.17 $0.00 $741.01 $133,002.55
87 $133,002.55 $1,205.17 $0.00 $752.02 $134,959.74
88 $134,959.74 $1,205.17 $0.00 $763.08 $136,927.99
89 $136,927.99 $1,205.17 $0.00 $774.21 $138,907.37
90 $138,907.37 $1,205.17 $0.00 $785.40 $140,897.94
91 $140,897.94 $1,205.17 $0.00 $796.66 $142,899.77
92 $142,899.77 $1,205.17 $0.00 $807.98 $144,912.92
93 $144,912.92 $1,205.17 $0.00 $819.36 $146,937.45
94 $146,937.45 $1,205.17 $0.00 $830.81 $148,973.43
95 $148,973.43 $1,205.17 $0.00 $842.32 $151,020.92
96 $151,020.92 $1,205.17 $0.00 $853.89 $153,079.98
97 $153,079.98 $1,205.17 $0.00 $865.54 $155,150.69
98 $155,150.69 $1,205.17 $0.00 $877.24 $157,233.10
99 $157,233.10 $1,205.17 $0.00 $889.02 $159,327.29
100 $159,327.29 $1,205.17 $0.00 $900.86 $161,433.32
101 $161,433.32 $1,205.17 $0.00 $912.77 $163,551.26
102 $163,551.26 $1,205.17 $0.00 $924.74 $165,681.17
103 $165,681.17 $1,205.17 $0.00 $936.79 $167,823.13
104 $167,823.13 $1,205.17 $0.00 $948.90 $169,977.20
105 $169,977.20 $1,205.17 $0.00 $961.08 $172,143.45
106 $172,143.45 $1,205.17 $0.00 $973.32 $174,321.94
107 $174,321.94 $1,205.17 $0.00 $985.64 $176,512.75
108 $176,512.75 $1,205.17 $0.00 $998.03 $178,715.95
109 $178,715.95 $1,205.17 $0.00 $1,010.49 $180,931.61
110 $180,931.61 $1,205.17 $0.00 $1,023.01 $183,159.79
111 $183,159.79 $1,205.17 $0.00 $1,035.61 $185,400.57
112 $185,400.57 $1,205.17 $0.00 $1,048.28 $187,654.02
113 $187,654.02 $1,205.17 $0.00 $1,061.02 $189,920.21
114 $189,920.21 $1,205.17 $0.00 $1,073.84 $192,199.22
115 $192,199.22 $1,205.17 $0.00 $1,086.72 $194,491.11
116 $194,491.11 $1,205.17 $0.00 $1,099.68 $196,795.96
117 $196,795.96 $1,205.17 $0.00 $1,112.71 $199,113.84
118 $199,113.84 $1,205.17 $0.00 $1,125.82 $201,444.83
119 $201,444.83 $1,205.17 $0.00 $1,139.00 $203,789.00
120 $203,789.00 $1,205.17 $0.00 $1,152.25 $206,146.42
121 $206,146.42 $1,205.17 $0.00 $1,165.58 $208,517.17
122 $208,517.17 $1,205.17 $0.00 $1,178.99 $210,901.33
123 $210,901.33 $1,205.17 $0.00 $1,192.47 $213,298.97
124 $213,298.97 $1,205.17 $0.00 $1,206.02 $215,710.16
125 $215,710.16 $1,205.17 $0.00 $1,219.66 $218,134.99
126 $218,134.99 $1,205.17 $0.00 $1,233.37 $220,573.53
127 $220,573.53 $1,205.17 $0.00 $1,247.15 $223,025.85
128 $223,025.85 $1,205.17 $0.00 $1,261.02 $225,492.04
129 $225,492.04 $1,205.17 $0.00 $1,274.96 $227,972.17
130 $227,972.17 $1,205.17 $0.00 $1,288.99 $230,466.33
131 $230,466.33 $1,205.17 $0.00 $1,303.09 $232,974.59
132 $232,974.59 $1,205.17 $0.00 $1,317.27 $235,497.03
133 $235,497.03 $1,205.17 $0.00 $1,331.53 $238,033.73
134 $238,033.73 $1,205.17 $0.00 $1,345.88 $240,584.78
135 $240,584.78 $1,205.17 $0.00 $1,360.30 $243,150.25
136 $243,150.25 $1,205.17 $0.00 $1,374.81 $245,730.23
137 $245,730.23 $1,205.17 $0.00 $1,389.39 $248,324.79
138 $248,324.79 $1,205.17 $0.00 $1,404.06 $250,934.02
139 $250,934.02 $1,205.17 $0.00 $1,418.82 $253,558.01
140 $253,558.01 $1,205.17 $0.00 $1,433.65 $256,196.83
141 $256,196.83 $1,205.17 $0.00 $1,448.57 $258,850.57
142 $258,850.57 $1,205.17 $0.00 $1,463.58 $261,519.32
143 $261,519.32 $1,205.17 $0.00 $1,478.67 $264,203.16
144 $264,203.16 $1,205.17 $0.00 $1,493.84 $266,902.17
145 $266,902.17 $1,205.17 $0.00 $1,509.10 $269,616.44
146 $269,616.44 $1,205.17 $0.00 $1,524.45 $272,346.06
147 $272,346.06 $1,205.17 $0.00 $1,539.88 $275,091.11
148 $275,091.11 $1,205.17 $0.00 $1,555.41 $277,851.69
149 $277,851.69 $1,205.17 $0.00 $1,571.01 $280,627.87
150 $280,627.87 $1,205.17 $0.00 $1,586.71 $283,419.75
151 $283,419.75 $1,205.17 $0.00 $1,602.50 $286,227.42
152 $286,227.42 $1,205.17 $0.00 $1,618.37 $289,050.96
153 $289,050.96 $1,205.17 $0.00 $1,634.34 $291,890.47
154 $291,890.47 $1,205.17 $0.00 $1,650.39 $294,746.03
155 $294,746.03 $1,205.17 $0.00 $1,666.54 $297,617.74
156 $297,617.74 $1,205.17 $0.00 $1,682.77 $300,505.68
157 $300,505.68 $1,205.17 $0.00 $1,699.10 $303,409.95
158 $303,409.95 $1,205.17 $0.00 $1,715.52 $306,330.64
159 $306,330.64 $1,205.17 $0.00 $1,732.04 $309,267.85
160 $309,267.85 $1,205.17 $0.00 $1,748.65 $312,221.67
161 $312,221.67 $1,205.17 $0.00 $1,765.35 $315,192.19
162 $315,192.19 $1,205.17 $0.00 $1,782.14 $318,179.50
163 $318,179.50 $1,205.17 $0.00 $1,799.03 $321,183.70
164 $321,183.70 $1,205.17 $0.00 $1,816.02 $324,204.89
165 $324,204.89 $1,205.17 $0.00 $1,833.10 $327,243.16
166 $327,243.16 $1,205.17 $0.00 $1,850.28 $330,298.61
167 $330,298.61 $1,205.17 $0.00 $1,867.56 $333,371.34
168 $333,371.34 $1,205.17 $0.00 $1,884.93 $336,461.44
169 $336,461.44 $1,205.17 $0.00 $1,902.40 $339,569.01
170 $339,569.01 $1,205.17 $0.00 $1,919.97 $342,694.15
171 $342,694.15 $1,205.17 $0.00 $1,937.64 $345,836.96
172 $345,836.96 $1,205.17 $0.00 $1,955.41 $348,997.54
173 $348,997.54 $1,205.17 $0.00 $1,973.28 $352,175.99
174 $352,175.99 $1,205.17 $0.00 $1,991.25 $355,372.41
175 $355,372.41 $1,205.17 $0.00 $2,009.33 $358,586.91
176 $358,586.91 $1,205.17 $0.00 $2,027.50 $361,819.58
177 $361,819.58 $1,205.17 $0.00 $2,045.78 $365,070.53
178 $365,070.53 $1,205.17 $0.00 $2,064.16 $368,339.86
179 $368,339.86 $1,205.17 $0.00 $2,082.65 $371,627.68
180 $371,627.68 $1,205.17 $0.00 $2,101.24 $374,934.09
181 $374,934.09 $1,205.17 $0.00 $2,119.93 $378,259.19
182 $378,259.19 $1,205.17 $0.00 $2,138.73 $381,603.09
183 $381,603.09 $1,205.17 $0.00 $2,157.64 $384,965.90
184 $384,965.90 $1,205.17 $0.00 $2,176.65 $388,347.72
185 $388,347.72 $1,205.17 $0.00 $2,195.77 $391,748.66
186 $391,748.66 $1,205.17 $0.00 $2,215.00 $395,168.83
187 $395,168.83 $1,205.17 $0.00 $2,234.34 $398,608.34
188 $398,608.34 $1,205.17 $0.00 $2,253.79 $402,067.30
189 $402,067.30 $1,205.17 $0.00 $2,273.35 $405,545.82
190 $405,545.82 $1,205.17 $0.00 $2,293.02 $409,044.01
191 $409,044.01 $1,205.17 $0.00 $2,312.79 $412,561.97
192 $412,561.97 $1,205.17 $0.00 $2,332.69 $416,099.83
193 $416,099.83 $1,205.17 $0.00 $2,352.69 $419,657.69
194 $419,657.69 $1,205.17 $0.00 $2,372.81 $423,235.67
195 $423,235.67 $1,205.17 $0.00 $2,393.04 $426,833.88
196 $426,833.88 $1,205.17 $0.00 $2,413.38 $430,452.43
197 $430,452.43 $1,205.17 $0.00 $2,433.84 $434,091.44
198 $434,091.44 $1,205.17 $0.00 $2,454.42 $437,751.03
199 $437,751.03 $1,205.17 $0.00 $2,475.11 $441,431.31
200 $441,431.31 $1,205.17 $0.00 $2,495.92 $445,132.40
201 $445,132.40 $1,205.17 $0.00 $2,516.84 $448,854.41
202 $448,854.41 $1,205.17 $0.00 $2,537.89 $452,597.47
203 $452,597.47 $1,205.17 $0.00 $2,559.05 $456,361.69
204 $456,361.69 $1,205.17 $0.00 $2,580.34 $460,147.20
205 $460,147.20 $1,205.17 $0.00 $2,601.74 $463,954.11
206 $463,954.11 $1,205.17 $0.00 $2,623.26 $467,782.54
207 $467,782.54 $1,205.17 $0.00 $2,644.91 $471,632.62
208 $471,632.62 $1,205.17 $0.00 $2,666.68 $475,504.47
209 $475,504.47 $1,205.17 $0.00 $2,688.57 $479,398.21
210 $479,398.21 $1,205.17 $0.00 $2,710.59 $483,313.97
211 $483,313.97 $1,205.17 $0.00 $2,732.73 $487,251.87
212 $487,251.87 $1,205.17 $0.00 $2,754.99 $491,212.03
213 $491,212.03 $1,205.17 $0.00 $2,777.38 $495,194.58
214 $495,194.58 $1,205.17 $0.00 $2,799.90 $499,199.65
215 $499,199.65 $1,205.17 $0.00 $2,822.55 $503,227.37
216 $503,227.37 $1,205.17 $0.00 $2,845.32 $507,277.86
217 $507,277.86 $1,205.17 $141,292.62 $2,868.22 $370,058.63
218 $370,058.63 $1,205.17 $0.00 $2,092.37 $373,356.17
219 $373,356.17 $1,205.17 $0.00 $2,111.01 $376,672.35
220 $376,672.35 $1,205.17 $0.00 $2,129.76 $380,007.28
221 $380,007.28 $1,205.17 $0.00 $2,148.62 $383,361.07
222 $383,361.07 $1,205.17 $0.00 $2,167.58 $386,733.82
223 $386,733.82 $1,205.17 $0.00 $2,186.65 $390,125.64
224 $390,125.64 $1,205.17 $0.00 $2,205.83 $393,536.64
225 $393,536.64 $1,205.17 $0.00 $2,225.11 $396,966.92
226 $396,966.92 $1,205.17 $0.00 $2,244.51 $400,416.60
227 $400,416.60 $1,205.17 $0.00 $2,264.01 $403,885.78
228 $403,885.78 $1,205.17 $0.00 $2,283.63 $407,374.58
229 $407,374.58 $1,205.17 $148,357.25 $2,303.36 $262,525.86
230 $262,525.86 $1,205.17 $0.00 $1,484.36 $265,215.39
231 $265,215.39 $1,205.17 $0.00 $1,499.57 $267,920.13
232 $267,920.13 $1,205.17 $0.00 $1,514.86 $270,640.16
233 $270,640.16 $1,205.17 $0.00 $1,530.24 $273,375.57
234 $273,375.57 $1,205.17 $0.00 $1,545.71 $276,126.45
235 $276,126.45 $1,205.17 $0.00 $1,561.26 $278,892.88
236 $278,892.88 $1,205.17 $0.00 $1,576.90 $281,674.95
237 $281,674.95 $1,205.17 $0.00 $1,592.63 $284,472.75
238 $284,472.75 $1,205.17 $0.00 $1,608.45 $287,286.37
239 $287,286.37 $1,205.17 $0.00 $1,624.36 $290,115.90
240 $290,115.90 $1,205.17 $0.00 $1,640.36 $292,961.43
241 $292,961.43 $1,205.17 $155,775.11 $1,656.45 $140,047.94
242 $140,047.94 $1,205.17 $0.00 $791.85 $142,044.96
243 $142,044.96 $1,205.17 $0.00 $803.14 $144,053.27
244 $144,053.27 $1,205.17 $0.00 $814.50 $146,072.94
245 $146,072.94 $1,205.17 $0.00 $825.92 $148,104.03
246 $148,104.03 $1,205.17 $0.00 $837.40 $150,146.60
247 $150,146.60 $1,205.17 $0.00 $848.95 $152,200.72
248 $152,200.72 $1,205.17 $0.00 $860.56 $154,266.45
249 $154,266.45 $1,205.17 $0.00 $872.24 $156,343.86
250 $156,343.86 $1,205.17 $0.00 $883.99 $158,433.02
251 $158,433.02 $1,205.17 $0.00 $895.80 $160,533.99
252 $160,533.99 $1,205.17 $0.00 $907.68 $162,646.84
253 $162,646.84 $0.00 $163,563.86 $919.63 $2.61