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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$184,553
Monthly savings required$1,461

How much will it cost to send your child to Bates College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $738,213.55 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,460.89 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$71,168.00
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 $1,460.89 $0.00 $0.00 $1,460.89
2 $1,460.89 $1,460.89 $0.00 $8.26 $2,930.04
3 $2,930.04 $1,460.89 $0.00 $16.57 $4,407.50
4 $4,407.50 $1,460.89 $0.00 $24.92 $5,893.31
5 $5,893.31 $1,460.89 $0.00 $33.32 $7,387.52
6 $7,387.52 $1,460.89 $0.00 $41.77 $8,890.18
7 $8,890.18 $1,460.89 $0.00 $50.27 $10,401.34
8 $10,401.34 $1,460.89 $0.00 $58.81 $11,921.04
9 $11,921.04 $1,460.89 $0.00 $67.40 $13,449.33
10 $13,449.33 $1,460.89 $0.00 $76.04 $14,986.26
11 $14,986.26 $1,460.89 $0.00 $84.73 $16,531.88
12 $16,531.88 $1,460.89 $0.00 $93.47 $18,086.24
13 $18,086.24 $1,460.89 $0.00 $102.26 $19,649.39
14 $19,649.39 $1,460.89 $0.00 $111.10 $21,221.38
15 $21,221.38 $1,460.89 $0.00 $119.99 $22,802.26
16 $22,802.26 $1,460.89 $0.00 $128.93 $24,392.08
17 $24,392.08 $1,460.89 $0.00 $137.92 $25,990.89
18 $25,990.89 $1,460.89 $0.00 $146.96 $27,598.74
19 $27,598.74 $1,460.89 $0.00 $156.05 $29,215.68
20 $29,215.68 $1,460.89 $0.00 $165.19 $30,841.76
21 $30,841.76 $1,460.89 $0.00 $174.38 $32,477.03
22 $32,477.03 $1,460.89 $0.00 $183.63 $34,121.55
23 $34,121.55 $1,460.89 $0.00 $192.93 $35,775.37
24 $35,775.37 $1,460.89 $0.00 $202.28 $37,438.54
25 $37,438.54 $1,460.89 $0.00 $211.68 $39,111.11
26 $39,111.11 $1,460.89 $0.00 $221.14 $40,793.14
27 $40,793.14 $1,460.89 $0.00 $230.65 $42,484.68
28 $42,484.68 $1,460.89 $0.00 $240.21 $44,185.78
29 $44,185.78 $1,460.89 $0.00 $249.83 $45,896.50
30 $45,896.50 $1,460.89 $0.00 $259.51 $47,616.90
31 $47,616.90 $1,460.89 $0.00 $269.23 $49,347.02
32 $49,347.02 $1,460.89 $0.00 $279.02 $51,086.93
33 $51,086.93 $1,460.89 $0.00 $288.85 $52,836.67
34 $52,836.67 $1,460.89 $0.00 $298.75 $54,596.31
35 $54,596.31 $1,460.89 $0.00 $308.70 $56,365.90
36 $56,365.90 $1,460.89 $0.00 $318.70 $58,145.49
37 $58,145.49 $1,460.89 $0.00 $328.76 $59,935.14
38 $59,935.14 $1,460.89 $0.00 $338.88 $61,734.91
39 $61,734.91 $1,460.89 $0.00 $349.06 $63,544.86
40 $63,544.86 $1,460.89 $0.00 $359.29 $65,365.04
41 $65,365.04 $1,460.89 $0.00 $369.58 $67,195.51
42 $67,195.51 $1,460.89 $0.00 $379.93 $69,036.33
43 $69,036.33 $1,460.89 $0.00 $390.34 $70,887.56
44 $70,887.56 $1,460.89 $0.00 $400.81 $72,749.26
45 $72,749.26 $1,460.89 $0.00 $411.33 $74,621.48
46 $74,621.48 $1,460.89 $0.00 $421.92 $76,504.29
47 $76,504.29 $1,460.89 $0.00 $432.57 $78,397.75
48 $78,397.75 $1,460.89 $0.00 $443.27 $80,301.91
49 $80,301.91 $1,460.89 $0.00 $454.04 $82,216.84
50 $82,216.84 $1,460.89 $0.00 $464.87 $84,142.60
51 $84,142.60 $1,460.89 $0.00 $475.75 $86,079.24
52 $86,079.24 $1,460.89 $0.00 $486.70 $88,026.83
53 $88,026.83 $1,460.89 $0.00 $497.72 $89,985.44
54 $89,985.44 $1,460.89 $0.00 $508.79 $91,955.12
55 $91,955.12 $1,460.89 $0.00 $519.93 $93,935.94
56 $93,935.94 $1,460.89 $0.00 $531.13 $95,927.96
57 $95,927.96 $1,460.89 $0.00 $542.39 $97,931.24
58 $97,931.24 $1,460.89 $0.00 $553.72 $99,945.85
59 $99,945.85 $1,460.89 $0.00 $565.11 $101,971.85
60 $101,971.85 $1,460.89 $0.00 $576.56 $104,009.30
61 $104,009.30 $1,460.89 $0.00 $588.08 $106,058.27
62 $106,058.27 $1,460.89 $0.00 $599.67 $108,118.83
63 $108,118.83 $1,460.89 $0.00 $611.32 $110,191.04
64 $110,191.04 $1,460.89 $0.00 $623.04 $112,274.97
65 $112,274.97 $1,460.89 $0.00 $634.82 $114,370.68
66 $114,370.68 $1,460.89 $0.00 $646.67 $116,478.24
67 $116,478.24 $1,460.89 $0.00 $658.58 $118,597.71
68 $118,597.71 $1,460.89 $0.00 $670.57 $120,729.17
69 $120,729.17 $1,460.89 $0.00 $682.62 $122,872.68
70 $122,872.68 $1,460.89 $0.00 $694.74 $125,028.31
71 $125,028.31 $1,460.89 $0.00 $706.93 $127,196.13
72 $127,196.13 $1,460.89 $0.00 $719.19 $129,376.21
73 $129,376.21 $1,460.89 $0.00 $731.51 $131,568.61
74 $131,568.61 $1,460.89 $0.00 $743.91 $133,773.41
75 $133,773.41 $1,460.89 $0.00 $756.37 $135,990.67
76 $135,990.67 $1,460.89 $0.00 $768.91 $138,220.47
77 $138,220.47 $1,460.89 $0.00 $781.52 $140,462.88
78 $140,462.88 $1,460.89 $0.00 $794.20 $142,717.97
79 $142,717.97 $1,460.89 $0.00 $806.95 $144,985.81
80 $144,985.81 $1,460.89 $0.00 $819.77 $147,266.47
81 $147,266.47 $1,460.89 $0.00 $832.67 $149,560.03
82 $149,560.03 $1,460.89 $0.00 $845.63 $151,866.55
83 $151,866.55 $1,460.89 $0.00 $858.68 $154,186.12
84 $154,186.12 $1,460.89 $0.00 $871.79 $156,518.80
85 $156,518.80 $1,460.89 $0.00 $884.98 $158,864.67
86 $158,864.67 $1,460.89 $0.00 $898.24 $161,223.80
87 $161,223.80 $1,460.89 $0.00 $911.58 $163,596.27
88 $163,596.27 $1,460.89 $0.00 $925.00 $165,982.16
89 $165,982.16 $1,460.89 $0.00 $938.49 $168,381.54
90 $168,381.54 $1,460.89 $0.00 $952.05 $170,794.48
91 $170,794.48 $1,460.89 $0.00 $965.70 $173,221.07
92 $173,221.07 $1,460.89 $0.00 $979.42 $175,661.38
93 $175,661.38 $1,460.89 $0.00 $993.21 $178,115.48
94 $178,115.48 $1,460.89 $0.00 $1,007.09 $180,583.46
95 $180,583.46 $1,460.89 $0.00 $1,021.05 $183,065.40
96 $183,065.40 $1,460.89 $0.00 $1,035.08 $185,561.37
97 $185,561.37 $1,460.89 $0.00 $1,049.19 $188,071.45
98 $188,071.45 $1,460.89 $0.00 $1,063.38 $190,595.72
99 $190,595.72 $1,460.89 $0.00 $1,077.66 $193,134.27
100 $193,134.27 $1,460.89 $0.00 $1,092.01 $195,687.17
101 $195,687.17 $1,460.89 $0.00 $1,106.44 $198,254.50
102 $198,254.50 $1,460.89 $0.00 $1,120.96 $200,836.35
103 $200,836.35 $1,460.89 $0.00 $1,135.56 $203,432.80
104 $203,432.80 $1,460.89 $0.00 $1,150.24 $206,043.93
105 $206,043.93 $1,460.89 $0.00 $1,165.00 $208,669.82
106 $208,669.82 $1,460.89 $0.00 $1,179.85 $211,310.56
107 $211,310.56 $1,460.89 $0.00 $1,194.78 $213,966.23
108 $213,966.23 $1,460.89 $0.00 $1,209.80 $216,636.92
109 $216,636.92 $1,460.89 $0.00 $1,224.90 $219,322.71
110 $219,322.71 $1,460.89 $0.00 $1,240.08 $222,023.68
111 $222,023.68 $1,460.89 $0.00 $1,255.35 $224,739.92
112 $224,739.92 $1,460.89 $0.00 $1,270.71 $227,471.52
113 $227,471.52 $1,460.89 $0.00 $1,286.16 $230,218.57
114 $230,218.57 $1,460.89 $0.00 $1,301.69 $232,981.15
115 $232,981.15 $1,460.89 $0.00 $1,317.31 $235,759.35
116 $235,759.35 $1,460.89 $0.00 $1,333.02 $238,553.26
117 $238,553.26 $1,460.89 $0.00 $1,348.81 $241,362.96
118 $241,362.96 $1,460.89 $0.00 $1,364.70 $244,188.55
119 $244,188.55 $1,460.89 $0.00 $1,380.68 $247,030.12
120 $247,030.12 $1,460.89 $0.00 $1,396.74 $249,887.75
121 $249,887.75 $1,460.89 $0.00 $1,412.90 $252,761.54
122 $252,761.54 $1,460.89 $0.00 $1,429.15 $255,651.58
123 $255,651.58 $1,460.89 $0.00 $1,445.49 $258,557.96
124 $258,557.96 $1,460.89 $0.00 $1,461.92 $261,480.77
125 $261,480.77 $1,460.89 $0.00 $1,478.45 $264,420.11
126 $264,420.11 $1,460.89 $0.00 $1,495.07 $267,376.07
127 $267,376.07 $1,460.89 $0.00 $1,511.78 $270,348.74
128 $270,348.74 $1,460.89 $0.00 $1,528.59 $273,338.22
129 $273,338.22 $1,460.89 $0.00 $1,545.49 $276,344.60
130 $276,344.60 $1,460.89 $0.00 $1,562.49 $279,367.98
131 $279,367.98 $1,460.89 $0.00 $1,579.59 $282,408.46
132 $282,408.46 $1,460.89 $0.00 $1,596.78 $285,466.13
133 $285,466.13 $1,460.89 $0.00 $1,614.07 $288,541.09
134 $288,541.09 $1,460.89 $0.00 $1,631.45 $291,633.43
135 $291,633.43 $1,460.89 $0.00 $1,648.94 $294,743.26
136 $294,743.26 $1,460.89 $0.00 $1,666.52 $297,870.67
137 $297,870.67 $1,460.89 $0.00 $1,684.20 $301,015.76
138 $301,015.76 $1,460.89 $0.00 $1,701.99 $304,178.64
139 $304,178.64 $1,460.89 $0.00 $1,719.87 $307,359.40
140 $307,359.40 $1,460.89 $0.00 $1,737.85 $310,558.14
141 $310,558.14 $1,460.89 $0.00 $1,755.94 $313,774.97
142 $313,774.97 $1,460.89 $0.00 $1,774.13 $317,009.99
143 $317,009.99 $1,460.89 $0.00 $1,792.42 $320,263.30
144 $320,263.30 $1,460.89 $0.00 $1,810.82 $323,535.01
145 $323,535.01 $1,460.89 $0.00 $1,829.31 $326,825.21
146 $326,825.21 $1,460.89 $0.00 $1,847.92 $330,134.02
147 $330,134.02 $1,460.89 $0.00 $1,866.63 $333,461.54
148 $333,461.54 $1,460.89 $0.00 $1,885.44 $336,807.87
149 $336,807.87 $1,460.89 $0.00 $1,904.36 $340,173.12
150 $340,173.12 $1,460.89 $0.00 $1,923.39 $343,557.40
151 $343,557.40 $1,460.89 $0.00 $1,942.52 $346,960.81
152 $346,960.81 $1,460.89 $0.00 $1,961.77 $350,383.47
153 $350,383.47 $1,460.89 $0.00 $1,981.12 $353,825.48
154 $353,825.48 $1,460.89 $0.00 $2,000.58 $357,286.95
155 $357,286.95 $1,460.89 $0.00 $2,020.15 $360,767.99
156 $360,767.99 $1,460.89 $0.00 $2,039.83 $364,268.71
157 $364,268.71 $1,460.89 $0.00 $2,059.63 $367,789.23
158 $367,789.23 $1,460.89 $0.00 $2,079.53 $371,329.65
159 $371,329.65 $1,460.89 $0.00 $2,099.55 $374,890.09
160 $374,890.09 $1,460.89 $0.00 $2,119.68 $378,470.66
161 $378,470.66 $1,460.89 $0.00 $2,139.93 $382,071.48
162 $382,071.48 $1,460.89 $0.00 $2,160.29 $385,692.66
163 $385,692.66 $1,460.89 $0.00 $2,180.76 $389,334.31
164 $389,334.31 $1,460.89 $0.00 $2,201.35 $392,996.55
165 $392,996.55 $1,460.89 $0.00 $2,222.06 $396,679.50
166 $396,679.50 $1,460.89 $0.00 $2,242.88 $400,383.27
167 $400,383.27 $1,460.89 $0.00 $2,263.83 $404,107.99
168 $404,107.99 $1,460.89 $0.00 $2,284.89 $407,853.77
169 $407,853.77 $1,460.89 $0.00 $2,306.06 $411,620.72
170 $411,620.72 $1,460.89 $0.00 $2,327.36 $415,408.97
171 $415,408.97 $1,460.89 $0.00 $2,348.78 $419,218.64
172 $419,218.64 $1,460.89 $0.00 $2,370.32 $423,049.85
173 $423,049.85 $1,460.89 $0.00 $2,391.99 $426,902.73
174 $426,902.73 $1,460.89 $0.00 $2,413.77 $430,777.39
175 $430,777.39 $1,460.89 $0.00 $2,435.68 $434,673.96
176 $434,673.96 $1,460.89 $0.00 $2,457.71 $438,592.56
177 $438,592.56 $1,460.89 $0.00 $2,479.87 $442,533.32
178 $442,533.32 $1,460.89 $0.00 $2,502.15 $446,496.36
179 $446,496.36 $1,460.89 $0.00 $2,524.56 $450,481.81
180 $450,481.81 $1,460.89 $0.00 $2,547.09 $454,489.79
181 $454,489.79 $1,460.89 $0.00 $2,569.75 $458,520.43
182 $458,520.43 $1,460.89 $0.00 $2,592.54 $462,573.86
183 $462,573.86 $1,460.89 $0.00 $2,615.46 $466,650.21
184 $466,650.21 $1,460.89 $0.00 $2,638.51 $470,749.61
185 $470,749.61 $1,460.89 $0.00 $2,661.69 $474,872.19
186 $474,872.19 $1,460.89 $0.00 $2,685.00 $479,018.08
187 $479,018.08 $1,460.89 $0.00 $2,708.44 $483,187.41
188 $483,187.41 $1,460.89 $0.00 $2,732.01 $487,380.31
189 $487,380.31 $1,460.89 $0.00 $2,755.72 $491,596.92
190 $491,596.92 $1,460.89 $0.00 $2,779.56 $495,837.37
191 $495,837.37 $1,460.89 $0.00 $2,803.54 $500,101.80
192 $500,101.80 $1,460.89 $0.00 $2,827.65 $504,390.34
193 $504,390.34 $1,460.89 $0.00 $2,851.90 $508,703.13
194 $508,703.13 $1,460.89 $0.00 $2,876.28 $513,040.30
195 $513,040.30 $1,460.89 $0.00 $2,900.80 $517,401.99
196 $517,401.99 $1,460.89 $0.00 $2,925.47 $521,788.35
197 $521,788.35 $1,460.89 $0.00 $2,950.27 $526,199.51
198 $526,199.51 $1,460.89 $0.00 $2,975.21 $530,635.61
199 $530,635.61 $1,460.89 $0.00 $3,000.29 $535,096.79
200 $535,096.79 $1,460.89 $0.00 $3,025.52 $539,583.20
201 $539,583.20 $1,460.89 $0.00 $3,050.88 $544,094.97
202 $544,094.97 $1,460.89 $0.00 $3,076.39 $548,632.25
203 $548,632.25 $1,460.89 $0.00 $3,102.05 $553,195.19
204 $553,195.19 $1,460.89 $0.00 $3,127.85 $557,783.93
205 $557,783.93 $1,460.89 $0.00 $3,153.79 $562,398.61
206 $562,398.61 $1,460.89 $0.00 $3,179.88 $567,039.38
207 $567,039.38 $1,460.89 $0.00 $3,206.12 $571,706.39
208 $571,706.39 $1,460.89 $0.00 $3,232.51 $576,399.79
209 $576,399.79 $1,460.89 $0.00 $3,259.05 $581,119.73
210 $581,119.73 $1,460.89 $0.00 $3,285.74 $585,866.36
211 $585,866.36 $1,460.89 $0.00 $3,312.57 $590,639.82
212 $590,639.82 $1,460.89 $0.00 $3,339.56 $595,440.27
213 $595,440.27 $1,460.89 $0.00 $3,366.71 $600,267.87
214 $600,267.87 $1,460.89 $0.00 $3,394.00 $605,122.76
215 $605,122.76 $1,460.89 $0.00 $3,421.45 $610,005.10
216 $610,005.10 $1,460.89 $0.00 $3,449.06 $614,915.05
217 $614,915.05 $1,460.89 $171,274.28 $3,476.82 $448,578.48
218 $448,578.48 $1,460.89 $0.00 $2,536.33 $452,575.70
219 $452,575.70 $1,460.89 $0.00 $2,558.93 $456,595.52
220 $456,595.52 $1,460.89 $0.00 $2,581.66 $460,638.07
221 $460,638.07 $1,460.89 $0.00 $2,604.51 $464,703.47
222 $464,703.47 $1,460.89 $0.00 $2,627.50 $468,791.86
223 $468,791.86 $1,460.89 $0.00 $2,650.62 $472,903.37
224 $472,903.37 $1,460.89 $0.00 $2,673.86 $477,038.12
225 $477,038.12 $1,460.89 $0.00 $2,697.24 $481,196.25
226 $481,196.25 $1,460.89 $0.00 $2,720.75 $485,377.89
227 $485,377.89 $1,460.89 $0.00 $2,744.40 $489,583.18
228 $489,583.18 $1,460.89 $0.00 $2,768.17 $493,812.24
229 $493,812.24 $1,460.89 $179,837.99 $2,792.09 $318,227.23
230 $318,227.23 $1,460.89 $0.00 $1,799.30 $321,487.42
231 $321,487.42 $1,460.89 $0.00 $1,817.74 $324,766.05
232 $324,766.05 $1,460.89 $0.00 $1,836.27 $328,063.21
233 $328,063.21 $1,460.89 $0.00 $1,854.92 $331,379.02
234 $331,379.02 $1,460.89 $0.00 $1,873.67 $334,713.58
235 $334,713.58 $1,460.89 $0.00 $1,892.52 $338,066.99
236 $338,066.99 $1,460.89 $0.00 $1,911.48 $341,439.36
237 $341,439.36 $1,460.89 $0.00 $1,930.55 $344,830.80
238 $344,830.80 $1,460.89 $0.00 $1,949.72 $348,241.41
239 $348,241.41 $1,460.89 $0.00 $1,969.01 $351,671.31
240 $351,671.31 $1,460.89 $0.00 $1,988.40 $355,120.60
241 $355,120.60 $1,460.89 $188,829.89 $2,007.90 $169,759.50
242 $169,759.50 $1,460.89 $0.00 $959.84 $172,180.23
243 $172,180.23 $1,460.89 $0.00 $973.53 $174,614.65
244 $174,614.65 $1,460.89 $0.00 $987.30 $177,062.84
245 $177,062.84 $1,460.89 $0.00 $1,001.14 $179,524.87
246 $179,524.87 $1,460.89 $0.00 $1,015.06 $182,000.82
247 $182,000.82 $1,460.89 $0.00 $1,029.06 $184,490.77
248 $184,490.77 $1,460.89 $0.00 $1,043.14 $186,994.80
249 $186,994.80 $1,460.89 $0.00 $1,057.30 $189,512.99
250 $189,512.99 $1,460.89 $0.00 $1,071.53 $192,045.41
251 $192,045.41 $1,460.89 $0.00 $1,085.85 $194,592.15
252 $194,592.15 $1,460.89 $0.00 $1,100.25 $197,153.29
253 $197,153.29 $0.00 $198,271.39 $1,114.73 ($3.37)