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 2041$157,408
Monthly savings required$1,246

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 $629,630.76 for students enrolling in 2041 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,246.00 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$60,700.00
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 $1,246.00 $0.00 $0.00 $1,246.00
2 $1,246.00 $1,246.00 $0.00 $7.05 $2,499.05
3 $2,499.05 $1,246.00 $0.00 $14.13 $3,759.18
4 $3,759.18 $1,246.00 $0.00 $21.25 $5,026.43
5 $5,026.43 $1,246.00 $0.00 $28.42 $6,300.85
6 $6,300.85 $1,246.00 $0.00 $35.63 $7,582.48
7 $7,582.48 $1,246.00 $0.00 $42.87 $8,871.35
8 $8,871.35 $1,246.00 $0.00 $50.16 $10,167.51
9 $10,167.51 $1,246.00 $0.00 $57.49 $11,471.00
10 $11,471.00 $1,246.00 $0.00 $64.86 $12,781.86
11 $12,781.86 $1,246.00 $0.00 $72.27 $14,100.13
12 $14,100.13 $1,246.00 $0.00 $79.72 $15,425.85
13 $15,425.85 $1,246.00 $0.00 $87.22 $16,759.07
14 $16,759.07 $1,246.00 $0.00 $94.76 $18,099.83
15 $18,099.83 $1,246.00 $0.00 $102.34 $19,448.17
16 $19,448.17 $1,246.00 $0.00 $109.96 $20,804.13
17 $20,804.13 $1,246.00 $0.00 $117.63 $22,167.76
18 $22,167.76 $1,246.00 $0.00 $125.34 $23,539.10
19 $23,539.10 $1,246.00 $0.00 $133.09 $24,918.19
20 $24,918.19 $1,246.00 $0.00 $140.89 $26,305.08
21 $26,305.08 $1,246.00 $0.00 $148.73 $27,699.81
22 $27,699.81 $1,246.00 $0.00 $156.62 $29,102.43
23 $29,102.43 $1,246.00 $0.00 $164.55 $30,512.98
24 $30,512.98 $1,246.00 $0.00 $172.52 $31,931.50
25 $31,931.50 $1,246.00 $0.00 $180.55 $33,358.05
26 $33,358.05 $1,246.00 $0.00 $188.61 $34,792.66
27 $34,792.66 $1,246.00 $0.00 $196.72 $36,235.38
28 $36,235.38 $1,246.00 $0.00 $204.88 $37,686.26
29 $37,686.26 $1,246.00 $0.00 $213.08 $39,145.34
30 $39,145.34 $1,246.00 $0.00 $221.33 $40,612.67
31 $40,612.67 $1,246.00 $0.00 $229.63 $42,088.30
32 $42,088.30 $1,246.00 $0.00 $237.97 $43,572.27
33 $43,572.27 $1,246.00 $0.00 $246.36 $45,064.63
34 $45,064.63 $1,246.00 $0.00 $254.80 $46,565.43
35 $46,565.43 $1,246.00 $0.00 $263.29 $48,074.72
36 $48,074.72 $1,246.00 $0.00 $271.82 $49,592.54
37 $49,592.54 $1,246.00 $0.00 $280.40 $51,118.94
38 $51,118.94 $1,246.00 $0.00 $289.03 $52,653.97
39 $52,653.97 $1,246.00 $0.00 $297.71 $54,197.68
40 $54,197.68 $1,246.00 $0.00 $306.44 $55,750.12
41 $55,750.12 $1,246.00 $0.00 $315.22 $57,311.34
42 $57,311.34 $1,246.00 $0.00 $324.05 $58,881.39
43 $58,881.39 $1,246.00 $0.00 $332.92 $60,460.31
44 $60,460.31 $1,246.00 $0.00 $341.85 $62,048.16
45 $62,048.16 $1,246.00 $0.00 $350.83 $63,644.99
46 $63,644.99 $1,246.00 $0.00 $359.86 $65,250.85
47 $65,250.85 $1,246.00 $0.00 $368.94 $66,865.79
48 $66,865.79 $1,246.00 $0.00 $378.07 $68,489.86
49 $68,489.86 $1,246.00 $0.00 $387.25 $70,123.11
50 $70,123.11 $1,246.00 $0.00 $396.49 $71,765.60
51 $71,765.60 $1,246.00 $0.00 $405.77 $73,417.37
52 $73,417.37 $1,246.00 $0.00 $415.11 $75,078.48
53 $75,078.48 $1,246.00 $0.00 $424.50 $76,748.98
54 $76,748.98 $1,246.00 $0.00 $433.95 $78,428.93
55 $78,428.93 $1,246.00 $0.00 $443.45 $80,118.38
56 $80,118.38 $1,246.00 $0.00 $453.00 $81,817.38
57 $81,817.38 $1,246.00 $0.00 $462.61 $83,525.99
58 $83,525.99 $1,246.00 $0.00 $472.27 $85,244.26
59 $85,244.26 $1,246.00 $0.00 $481.98 $86,972.24
60 $86,972.24 $1,246.00 $0.00 $491.75 $88,709.99
61 $88,709.99 $1,246.00 $0.00 $501.58 $90,457.57
62 $90,457.57 $1,246.00 $0.00 $511.46 $92,215.03
63 $92,215.03 $1,246.00 $0.00 $521.40 $93,982.43
64 $93,982.43 $1,246.00 $0.00 $531.39 $95,759.82
65 $95,759.82 $1,246.00 $0.00 $541.44 $97,547.26
66 $97,547.26 $1,246.00 $0.00 $551.55 $99,344.81
67 $99,344.81 $1,246.00 $0.00 $561.71 $101,152.52
68 $101,152.52 $1,246.00 $0.00 $571.93 $102,970.45
69 $102,970.45 $1,246.00 $0.00 $582.21 $104,798.66
70 $104,798.66 $1,246.00 $0.00 $592.55 $106,637.21
71 $106,637.21 $1,246.00 $0.00 $602.94 $108,486.15
72 $108,486.15 $1,246.00 $0.00 $613.40 $110,345.55
73 $110,345.55 $1,246.00 $0.00 $623.91 $112,215.46
74 $112,215.46 $1,246.00 $0.00 $634.48 $114,095.94
75 $114,095.94 $1,246.00 $0.00 $645.12 $115,987.06
76 $115,987.06 $1,246.00 $0.00 $655.81 $117,888.87
77 $117,888.87 $1,246.00 $0.00 $666.56 $119,801.43
78 $119,801.43 $1,246.00 $0.00 $677.37 $121,724.80
79 $121,724.80 $1,246.00 $0.00 $688.25 $123,659.05
80 $123,659.05 $1,246.00 $0.00 $699.19 $125,604.24
81 $125,604.24 $1,246.00 $0.00 $710.18 $127,560.42
82 $127,560.42 $1,246.00 $0.00 $721.25 $129,527.67
83 $129,527.67 $1,246.00 $0.00 $732.37 $131,506.04
84 $131,506.04 $1,246.00 $0.00 $743.55 $133,495.59
85 $133,495.59 $1,246.00 $0.00 $754.80 $135,496.39
86 $135,496.39 $1,246.00 $0.00 $766.12 $137,508.51
87 $137,508.51 $1,246.00 $0.00 $777.49 $139,532.00
88 $139,532.00 $1,246.00 $0.00 $788.93 $141,566.93
89 $141,566.93 $1,246.00 $0.00 $800.44 $143,613.37
90 $143,613.37 $1,246.00 $0.00 $812.01 $145,671.38
91 $145,671.38 $1,246.00 $0.00 $823.65 $147,741.03
92 $147,741.03 $1,246.00 $0.00 $835.35 $149,822.38
93 $149,822.38 $1,246.00 $0.00 $847.12 $151,915.50
94 $151,915.50 $1,246.00 $0.00 $858.95 $154,020.45
95 $154,020.45 $1,246.00 $0.00 $870.85 $156,137.30
96 $156,137.30 $1,246.00 $0.00 $882.82 $158,266.12
97 $158,266.12 $1,246.00 $0.00 $894.86 $160,406.98
98 $160,406.98 $1,246.00 $0.00 $906.96 $162,559.94
99 $162,559.94 $1,246.00 $0.00 $919.14 $164,725.08
100 $164,725.08 $1,246.00 $0.00 $931.38 $166,902.46
101 $166,902.46 $1,246.00 $0.00 $943.69 $169,092.15
102 $169,092.15 $1,246.00 $0.00 $956.07 $171,294.22
103 $171,294.22 $1,246.00 $0.00 $968.52 $173,508.74
104 $173,508.74 $1,246.00 $0.00 $981.04 $175,735.78
105 $175,735.78 $1,246.00 $0.00 $993.64 $177,975.42
106 $177,975.42 $1,246.00 $0.00 $1,006.30 $180,227.72
107 $180,227.72 $1,246.00 $0.00 $1,019.03 $182,492.75
108 $182,492.75 $1,246.00 $0.00 $1,031.84 $184,770.59
109 $184,770.59 $1,246.00 $0.00 $1,044.72 $187,061.31
110 $187,061.31 $1,246.00 $0.00 $1,057.67 $189,364.98
111 $189,364.98 $1,246.00 $0.00 $1,070.70 $191,681.68
112 $191,681.68 $1,246.00 $0.00 $1,083.80 $194,011.48
113 $194,011.48 $1,246.00 $0.00 $1,096.97 $196,354.45
114 $196,354.45 $1,246.00 $0.00 $1,110.22 $198,710.67
115 $198,710.67 $1,246.00 $0.00 $1,123.54 $201,080.21
116 $201,080.21 $1,246.00 $0.00 $1,136.94 $203,463.15
117 $203,463.15 $1,246.00 $0.00 $1,150.41 $205,859.56
118 $205,859.56 $1,246.00 $0.00 $1,163.96 $208,269.52
119 $208,269.52 $1,246.00 $0.00 $1,177.59 $210,693.11
120 $210,693.11 $1,246.00 $0.00 $1,191.29 $213,130.40
121 $213,130.40 $1,246.00 $0.00 $1,205.07 $215,581.47
122 $215,581.47 $1,246.00 $0.00 $1,218.93 $218,046.40
123 $218,046.40 $1,246.00 $0.00 $1,232.87 $220,525.27
124 $220,525.27 $1,246.00 $0.00 $1,246.88 $223,018.15
125 $223,018.15 $1,246.00 $0.00 $1,260.98 $225,525.13
126 $225,525.13 $1,246.00 $0.00 $1,275.15 $228,046.28
127 $228,046.28 $1,246.00 $0.00 $1,289.41 $230,581.69
128 $230,581.69 $1,246.00 $0.00 $1,303.74 $233,131.43
129 $233,131.43 $1,246.00 $0.00 $1,318.16 $235,695.59
130 $235,695.59 $1,246.00 $0.00 $1,332.66 $238,274.25
131 $238,274.25 $1,246.00 $0.00 $1,347.24 $240,867.49
132 $240,867.49 $1,246.00 $0.00 $1,361.90 $243,475.39
133 $243,475.39 $1,246.00 $0.00 $1,376.65 $246,098.04
134 $246,098.04 $1,246.00 $0.00 $1,391.47 $248,735.51
135 $248,735.51 $1,246.00 $0.00 $1,406.39 $251,387.90
136 $251,387.90 $1,246.00 $0.00 $1,421.38 $254,055.28
137 $254,055.28 $1,246.00 $0.00 $1,436.47 $256,737.75
138 $256,737.75 $1,246.00 $0.00 $1,451.63 $259,435.38
139 $259,435.38 $1,246.00 $0.00 $1,466.89 $262,148.27
140 $262,148.27 $1,246.00 $0.00 $1,482.22 $264,876.49
141 $264,876.49 $1,246.00 $0.00 $1,497.65 $267,620.14
142 $267,620.14 $1,246.00 $0.00 $1,513.16 $270,379.30
143 $270,379.30 $1,246.00 $0.00 $1,528.76 $273,154.06
144 $273,154.06 $1,246.00 $0.00 $1,544.45 $275,944.51
145 $275,944.51 $1,246.00 $0.00 $1,560.23 $278,750.74
146 $278,750.74 $1,246.00 $0.00 $1,576.10 $281,572.84
147 $281,572.84 $1,246.00 $0.00 $1,592.05 $284,410.89
148 $284,410.89 $1,246.00 $0.00 $1,608.10 $287,264.99
149 $287,264.99 $1,246.00 $0.00 $1,624.24 $290,135.23
150 $290,135.23 $1,246.00 $0.00 $1,640.47 $293,021.70
151 $293,021.70 $1,246.00 $0.00 $1,656.79 $295,924.49
152 $295,924.49 $1,246.00 $0.00 $1,673.20 $298,843.69
153 $298,843.69 $1,246.00 $0.00 $1,689.71 $301,779.40
154 $301,779.40 $1,246.00 $0.00 $1,706.30 $304,731.70
155 $304,731.70 $1,246.00 $0.00 $1,723.00 $307,700.70
156 $307,700.70 $1,246.00 $0.00 $1,739.78 $310,686.48
157 $310,686.48 $1,246.00 $0.00 $1,756.67 $313,689.15
158 $313,689.15 $1,246.00 $0.00 $1,773.64 $316,708.79
159 $316,708.79 $1,246.00 $0.00 $1,790.72 $319,745.51
160 $319,745.51 $1,246.00 $0.00 $1,807.89 $322,799.40
161 $322,799.40 $1,246.00 $0.00 $1,825.15 $325,870.55
162 $325,870.55 $1,246.00 $0.00 $1,842.52 $328,959.07
163 $328,959.07 $1,246.00 $0.00 $1,859.98 $332,065.05
164 $332,065.05 $1,246.00 $0.00 $1,877.54 $335,188.59
165 $335,188.59 $1,246.00 $0.00 $1,895.21 $338,329.80
166 $338,329.80 $1,246.00 $0.00 $1,912.97 $341,488.77
167 $341,488.77 $1,246.00 $0.00 $1,930.83 $344,665.60
168 $344,665.60 $1,246.00 $0.00 $1,948.79 $347,860.39
169 $347,860.39 $1,246.00 $0.00 $1,966.85 $351,073.24
170 $351,073.24 $1,246.00 $0.00 $1,985.02 $354,304.26
171 $354,304.26 $1,246.00 $0.00 $2,003.29 $357,553.55
172 $357,553.55 $1,246.00 $0.00 $2,021.66 $360,821.21
173 $360,821.21 $1,246.00 $0.00 $2,040.14 $364,107.35
174 $364,107.35 $1,246.00 $0.00 $2,058.72 $367,412.07
175 $367,412.07 $1,246.00 $0.00 $2,077.40 $370,735.47
176 $370,735.47 $1,246.00 $0.00 $2,096.19 $374,077.66
177 $374,077.66 $1,246.00 $0.00 $2,115.09 $377,438.75
178 $377,438.75 $1,246.00 $0.00 $2,134.09 $380,818.84
179 $380,818.84 $1,246.00 $0.00 $2,153.21 $384,218.05
180 $384,218.05 $1,246.00 $0.00 $2,172.42 $387,636.47
181 $387,636.47 $1,246.00 $0.00 $2,191.75 $391,074.22
182 $391,074.22 $1,246.00 $0.00 $2,211.19 $394,531.41
183 $394,531.41 $1,246.00 $0.00 $2,230.74 $398,008.15
184 $398,008.15 $1,246.00 $0.00 $2,250.40 $401,504.55
185 $401,504.55 $1,246.00 $0.00 $2,270.17 $405,020.72
186 $405,020.72 $1,246.00 $0.00 $2,290.05 $408,556.77
187 $408,556.77 $1,246.00 $0.00 $2,310.04 $412,112.81
188 $412,112.81 $1,246.00 $0.00 $2,330.15 $415,688.96
189 $415,688.96 $1,246.00 $0.00 $2,350.37 $419,285.33
190 $419,285.33 $1,246.00 $0.00 $2,370.70 $422,902.03
191 $422,902.03 $1,246.00 $0.00 $2,391.15 $426,539.18
192 $426,539.18 $1,246.00 $0.00 $2,411.71 $430,196.89
193 $430,196.89 $1,246.00 $0.00 $2,432.40 $433,875.29
194 $433,875.29 $1,246.00 $0.00 $2,453.19 $437,574.48
195 $437,574.48 $1,246.00 $0.00 $2,474.11 $441,294.59
196 $441,294.59 $1,246.00 $0.00 $2,495.14 $445,035.73
197 $445,035.73 $1,246.00 $0.00 $2,516.30 $448,798.03
198 $448,798.03 $1,246.00 $0.00 $2,537.57 $452,581.60
199 $452,581.60 $1,246.00 $0.00 $2,558.96 $456,386.56
200 $456,386.56 $1,246.00 $0.00 $2,580.48 $460,213.04
201 $460,213.04 $1,246.00 $0.00 $2,602.11 $464,061.15
202 $464,061.15 $1,246.00 $0.00 $2,623.87 $467,931.02
203 $467,931.02 $1,246.00 $0.00 $2,645.75 $471,822.77
204 $471,822.77 $1,246.00 $0.00 $2,667.75 $475,736.52
205 $475,736.52 $1,246.00 $0.00 $2,689.88 $479,672.40
206 $479,672.40 $1,246.00 $0.00 $2,712.14 $483,630.54
207 $483,630.54 $1,246.00 $0.00 $2,734.52 $487,611.06
208 $487,611.06 $1,246.00 $0.00 $2,757.02 $491,614.08
209 $491,614.08 $1,246.00 $0.00 $2,779.66 $495,639.74
210 $495,639.74 $1,246.00 $0.00 $2,802.42 $499,688.16
211 $499,688.16 $1,246.00 $0.00 $2,825.31 $503,759.47
212 $503,759.47 $1,246.00 $0.00 $2,848.33 $507,853.80
213 $507,853.80 $1,246.00 $0.00 $2,871.48 $511,971.28
214 $511,971.28 $1,246.00 $0.00 $2,894.76 $516,112.04
215 $516,112.04 $1,246.00 $0.00 $2,918.17 $520,276.21
216 $520,276.21 $1,246.00 $0.00 $2,941.72 $524,463.93
217 $524,463.93 $1,246.00 $146,081.79 $2,965.40 $382,593.54
218 $382,593.54 $1,246.00 $0.00 $2,163.24 $386,002.78
219 $386,002.78 $1,246.00 $0.00 $2,182.52 $389,431.30
220 $389,431.30 $1,246.00 $0.00 $2,201.90 $392,879.20
221 $392,879.20 $1,246.00 $0.00 $2,221.40 $396,346.60
222 $396,346.60 $1,246.00 $0.00 $2,241.00 $399,833.60
223 $399,833.60 $1,246.00 $0.00 $2,260.72 $403,340.32
224 $403,340.32 $1,246.00 $0.00 $2,280.54 $406,866.86
225 $406,866.86 $1,246.00 $0.00 $2,300.48 $410,413.34
226 $410,413.34 $1,246.00 $0.00 $2,320.54 $413,979.88
227 $413,979.88 $1,246.00 $0.00 $2,340.70 $417,566.58
228 $417,566.58 $1,246.00 $0.00 $2,360.98 $421,173.56
229 $421,173.56 $1,246.00 $153,385.88 $2,381.38 $271,415.06
230 $271,415.06 $1,246.00 $0.00 $1,534.62 $274,195.68
231 $274,195.68 $1,246.00 $0.00 $1,550.34 $276,992.02
232 $276,992.02 $1,246.00 $0.00 $1,566.15 $279,804.17
233 $279,804.17 $1,246.00 $0.00 $1,582.05 $282,632.22
234 $282,632.22 $1,246.00 $0.00 $1,598.04 $285,476.26
235 $285,476.26 $1,246.00 $0.00 $1,614.12 $288,336.38
236 $288,336.38 $1,246.00 $0.00 $1,630.30 $291,212.68
237 $291,212.68 $1,246.00 $0.00 $1,646.56 $294,105.24
238 $294,105.24 $1,246.00 $0.00 $1,662.91 $297,014.15
239 $297,014.15 $1,246.00 $0.00 $1,679.36 $299,939.51
240 $299,939.51 $1,246.00 $0.00 $1,695.90 $302,881.41
241 $302,881.41 $1,246.00 $161,055.17 $1,712.54 $144,784.78
242 $144,784.78 $1,246.00 $0.00 $818.63 $146,849.41
243 $146,849.41 $1,246.00 $0.00 $830.31 $148,925.72
244 $148,925.72 $1,246.00 $0.00 $842.05 $151,013.77
245 $151,013.77 $1,246.00 $0.00 $853.85 $153,113.62
246 $153,113.62 $1,246.00 $0.00 $865.73 $155,225.35
247 $155,225.35 $1,246.00 $0.00 $877.67 $157,349.02
248 $157,349.02 $1,246.00 $0.00 $889.67 $159,484.69
249 $159,484.69 $1,246.00 $0.00 $901.75 $161,632.44
250 $161,632.44 $1,246.00 $0.00 $913.89 $163,792.33
251 $163,792.33 $1,246.00 $0.00 $926.11 $165,964.44
252 $165,964.44 $1,246.00 $0.00 $938.39 $168,148.83
253 $168,148.83 $0.00 $169,107.93 $950.74 ($8.36)