Savings Plan and Future Cost Estimation for Nichols College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$212,007
Monthly savings required$1,676

How much will it cost to send your child to Nichols College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $848,028.99 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,675.56 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$56,510.00
Years until enrollment18
Annual Tuition Increase7%
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 $1,675.56 $0.00 $0.00 $1,675.56
2 $1,675.56 $1,675.56 $0.00 $9.47 $3,360.59
3 $3,360.59 $1,675.56 $0.00 $19.00 $5,055.15
4 $5,055.15 $1,675.56 $0.00 $28.58 $6,759.29
5 $6,759.29 $1,675.56 $0.00 $38.22 $8,473.07
6 $8,473.07 $1,675.56 $0.00 $47.91 $10,196.54
7 $10,196.54 $1,675.56 $0.00 $57.65 $11,929.75
8 $11,929.75 $1,675.56 $0.00 $67.45 $13,672.76
9 $13,672.76 $1,675.56 $0.00 $77.31 $15,425.63
10 $15,425.63 $1,675.56 $0.00 $87.22 $17,188.41
11 $17,188.41 $1,675.56 $0.00 $97.19 $18,961.16
12 $18,961.16 $1,675.56 $0.00 $107.21 $20,743.93
13 $20,743.93 $1,675.56 $0.00 $117.29 $22,536.78
14 $22,536.78 $1,675.56 $0.00 $127.43 $24,339.77
15 $24,339.77 $1,675.56 $0.00 $137.62 $26,152.95
16 $26,152.95 $1,675.56 $0.00 $147.87 $27,976.38
17 $27,976.38 $1,675.56 $0.00 $158.18 $29,810.12
18 $29,810.12 $1,675.56 $0.00 $168.55 $31,654.23
19 $31,654.23 $1,675.56 $0.00 $178.98 $33,508.77
20 $33,508.77 $1,675.56 $0.00 $189.46 $35,373.79
21 $35,373.79 $1,675.56 $0.00 $200.01 $37,249.36
22 $37,249.36 $1,675.56 $0.00 $210.61 $39,135.53
23 $39,135.53 $1,675.56 $0.00 $221.28 $41,032.37
24 $41,032.37 $1,675.56 $0.00 $232.00 $42,939.93
25 $42,939.93 $1,675.56 $0.00 $242.79 $44,858.28
26 $44,858.28 $1,675.56 $0.00 $253.64 $46,787.48
27 $46,787.48 $1,675.56 $0.00 $264.54 $48,727.58
28 $48,727.58 $1,675.56 $0.00 $275.51 $50,678.65
29 $50,678.65 $1,675.56 $0.00 $286.54 $52,640.75
30 $52,640.75 $1,675.56 $0.00 $297.64 $54,613.95
31 $54,613.95 $1,675.56 $0.00 $308.80 $56,598.31
32 $56,598.31 $1,675.56 $0.00 $320.02 $58,593.89
33 $58,593.89 $1,675.56 $0.00 $331.30 $60,600.75
34 $60,600.75 $1,675.56 $0.00 $342.65 $62,618.96
35 $62,618.96 $1,675.56 $0.00 $354.06 $64,648.58
36 $64,648.58 $1,675.56 $0.00 $365.53 $66,689.67
37 $66,689.67 $1,675.56 $0.00 $377.07 $68,742.30
38 $68,742.30 $1,675.56 $0.00 $388.68 $70,806.54
39 $70,806.54 $1,675.56 $0.00 $400.35 $72,882.45
40 $72,882.45 $1,675.56 $0.00 $412.09 $74,970.10
41 $74,970.10 $1,675.56 $0.00 $423.89 $77,069.55
42 $77,069.55 $1,675.56 $0.00 $435.76 $79,180.87
43 $79,180.87 $1,675.56 $0.00 $447.70 $81,304.13
44 $81,304.13 $1,675.56 $0.00 $459.71 $83,439.40
45 $83,439.40 $1,675.56 $0.00 $471.78 $85,586.74
46 $85,586.74 $1,675.56 $0.00 $483.92 $87,746.22
47 $87,746.22 $1,675.56 $0.00 $496.13 $89,917.91
48 $89,917.91 $1,675.56 $0.00 $508.41 $92,101.88
49 $92,101.88 $1,675.56 $0.00 $520.76 $94,298.20
50 $94,298.20 $1,675.56 $0.00 $533.18 $96,506.94
51 $96,506.94 $1,675.56 $0.00 $545.66 $98,728.16
52 $98,728.16 $1,675.56 $0.00 $558.22 $100,961.94
53 $100,961.94 $1,675.56 $0.00 $570.85 $103,208.35
54 $103,208.35 $1,675.56 $0.00 $583.56 $105,467.47
55 $105,467.47 $1,675.56 $0.00 $596.33 $107,739.36
56 $107,739.36 $1,675.56 $0.00 $609.17 $110,024.09
57 $110,024.09 $1,675.56 $0.00 $622.09 $112,321.74
58 $112,321.74 $1,675.56 $0.00 $635.08 $114,632.38
59 $114,632.38 $1,675.56 $0.00 $648.15 $116,956.09
60 $116,956.09 $1,675.56 $0.00 $661.29 $119,292.94
61 $119,292.94 $1,675.56 $0.00 $674.50 $121,643.00
62 $121,643.00 $1,675.56 $0.00 $687.79 $124,006.35
63 $124,006.35 $1,675.56 $0.00 $701.15 $126,383.06
64 $126,383.06 $1,675.56 $0.00 $714.59 $128,773.21
65 $128,773.21 $1,675.56 $0.00 $728.10 $131,176.87
66 $131,176.87 $1,675.56 $0.00 $741.69 $133,594.12
67 $133,594.12 $1,675.56 $0.00 $755.36 $136,025.04
68 $136,025.04 $1,675.56 $0.00 $769.11 $138,469.71
69 $138,469.71 $1,675.56 $0.00 $782.93 $140,928.20
70 $140,928.20 $1,675.56 $0.00 $796.83 $143,400.59
71 $143,400.59 $1,675.56 $0.00 $810.81 $145,886.96
72 $145,886.96 $1,675.56 $0.00 $824.87 $148,387.39
73 $148,387.39 $1,675.56 $0.00 $839.00 $150,901.95
74 $150,901.95 $1,675.56 $0.00 $853.22 $153,430.73
75 $153,430.73 $1,675.56 $0.00 $867.52 $155,973.81
76 $155,973.81 $1,675.56 $0.00 $881.90 $158,531.27
77 $158,531.27 $1,675.56 $0.00 $896.36 $161,103.19
78 $161,103.19 $1,675.56 $0.00 $910.90 $163,689.65
79 $163,689.65 $1,675.56 $0.00 $925.53 $166,290.74
80 $166,290.74 $1,675.56 $0.00 $940.23 $168,906.53
81 $168,906.53 $1,675.56 $0.00 $955.02 $171,537.11
82 $171,537.11 $1,675.56 $0.00 $969.90 $174,182.57
83 $174,182.57 $1,675.56 $0.00 $984.85 $176,842.98
84 $176,842.98 $1,675.56 $0.00 $999.90 $179,518.44
85 $179,518.44 $1,675.56 $0.00 $1,015.02 $182,209.02
86 $182,209.02 $1,675.56 $0.00 $1,030.24 $184,914.82
87 $184,914.82 $1,675.56 $0.00 $1,045.54 $187,635.92
88 $187,635.92 $1,675.56 $0.00 $1,060.92 $190,372.40
89 $190,372.40 $1,675.56 $0.00 $1,076.39 $193,124.35
90 $193,124.35 $1,675.56 $0.00 $1,091.95 $195,891.86
91 $195,891.86 $1,675.56 $0.00 $1,107.60 $198,675.02
92 $198,675.02 $1,675.56 $0.00 $1,123.34 $201,473.92
93 $201,473.92 $1,675.56 $0.00 $1,139.16 $204,288.64
94 $204,288.64 $1,675.56 $0.00 $1,155.08 $207,119.28
95 $207,119.28 $1,675.56 $0.00 $1,171.08 $209,965.92
96 $209,965.92 $1,675.56 $0.00 $1,187.18 $212,828.66
97 $212,828.66 $1,675.56 $0.00 $1,203.36 $215,707.58
98 $215,707.58 $1,675.56 $0.00 $1,219.64 $218,602.78
99 $218,602.78 $1,675.56 $0.00 $1,236.01 $221,514.35
100 $221,514.35 $1,675.56 $0.00 $1,252.47 $224,442.38
101 $224,442.38 $1,675.56 $0.00 $1,269.03 $227,386.97
102 $227,386.97 $1,675.56 $0.00 $1,285.68 $230,348.21
103 $230,348.21 $1,675.56 $0.00 $1,302.42 $233,326.19
104 $233,326.19 $1,675.56 $0.00 $1,319.26 $236,321.01
105 $236,321.01 $1,675.56 $0.00 $1,336.19 $239,332.76
106 $239,332.76 $1,675.56 $0.00 $1,353.22 $242,361.54
107 $242,361.54 $1,675.56 $0.00 $1,370.35 $245,407.45
108 $245,407.45 $1,675.56 $0.00 $1,387.57 $248,470.58
109 $248,470.58 $1,675.56 $0.00 $1,404.89 $251,551.03
110 $251,551.03 $1,675.56 $0.00 $1,422.31 $254,648.90
111 $254,648.90 $1,675.56 $0.00 $1,439.82 $257,764.28
112 $257,764.28 $1,675.56 $0.00 $1,457.44 $260,897.28
113 $260,897.28 $1,675.56 $0.00 $1,475.15 $264,047.99
114 $264,047.99 $1,675.56 $0.00 $1,492.97 $267,216.52
115 $267,216.52 $1,675.56 $0.00 $1,510.88 $270,402.96
116 $270,402.96 $1,675.56 $0.00 $1,528.90 $273,607.42
117 $273,607.42 $1,675.56 $0.00 $1,547.02 $276,830.00
118 $276,830.00 $1,675.56 $0.00 $1,565.24 $280,070.80
119 $280,070.80 $1,675.56 $0.00 $1,583.56 $283,329.92
120 $283,329.92 $1,675.56 $0.00 $1,601.99 $286,607.47
121 $286,607.47 $1,675.56 $0.00 $1,620.52 $289,903.55
122 $289,903.55 $1,675.56 $0.00 $1,639.16 $293,218.27
123 $293,218.27 $1,675.56 $0.00 $1,657.90 $296,551.73
124 $296,551.73 $1,675.56 $0.00 $1,676.75 $299,904.04
125 $299,904.04 $1,675.56 $0.00 $1,695.70 $303,275.30
126 $303,275.30 $1,675.56 $0.00 $1,714.76 $306,665.62
127 $306,665.62 $1,675.56 $0.00 $1,733.93 $310,075.11
128 $310,075.11 $1,675.56 $0.00 $1,753.21 $313,503.88
129 $313,503.88 $1,675.56 $0.00 $1,772.60 $316,952.04
130 $316,952.04 $1,675.56 $0.00 $1,792.09 $320,419.69
131 $320,419.69 $1,675.56 $0.00 $1,811.70 $323,906.95
132 $323,906.95 $1,675.56 $0.00 $1,831.42 $327,413.93
133 $327,413.93 $1,675.56 $0.00 $1,851.25 $330,940.74
134 $330,940.74 $1,675.56 $0.00 $1,871.19 $334,487.49
135 $334,487.49 $1,675.56 $0.00 $1,891.24 $338,054.29
136 $338,054.29 $1,675.56 $0.00 $1,911.41 $341,641.26
137 $341,641.26 $1,675.56 $0.00 $1,931.69 $345,248.51
138 $345,248.51 $1,675.56 $0.00 $1,952.09 $348,876.16
139 $348,876.16 $1,675.56 $0.00 $1,972.60 $352,524.32
140 $352,524.32 $1,675.56 $0.00 $1,993.22 $356,193.10
141 $356,193.10 $1,675.56 $0.00 $2,013.97 $359,882.63
142 $359,882.63 $1,675.56 $0.00 $2,034.83 $363,593.02
143 $363,593.02 $1,675.56 $0.00 $2,055.81 $367,324.39
144 $367,324.39 $1,675.56 $0.00 $2,076.91 $371,076.86
145 $371,076.86 $1,675.56 $0.00 $2,098.12 $374,850.54
146 $374,850.54 $1,675.56 $0.00 $2,119.46 $378,645.56
147 $378,645.56 $1,675.56 $0.00 $2,140.92 $382,462.04
148 $382,462.04 $1,675.56 $0.00 $2,162.50 $386,300.10
149 $386,300.10 $1,675.56 $0.00 $2,184.20 $390,159.86
150 $390,159.86 $1,675.56 $0.00 $2,206.02 $394,041.44
151 $394,041.44 $1,675.56 $0.00 $2,227.97 $397,944.97
152 $397,944.97 $1,675.56 $0.00 $2,250.04 $401,870.57
153 $401,870.57 $1,675.56 $0.00 $2,272.23 $405,818.36
154 $405,818.36 $1,675.56 $0.00 $2,294.56 $409,788.48
155 $409,788.48 $1,675.56 $0.00 $2,317.00 $413,781.04
156 $413,781.04 $1,675.56 $0.00 $2,339.58 $417,796.18
157 $417,796.18 $1,675.56 $0.00 $2,362.28 $421,834.02
158 $421,834.02 $1,675.56 $0.00 $2,385.11 $425,894.69
159 $425,894.69 $1,675.56 $0.00 $2,408.07 $429,978.32
160 $429,978.32 $1,675.56 $0.00 $2,431.16 $434,085.04
161 $434,085.04 $1,675.56 $0.00 $2,454.38 $438,214.98
162 $438,214.98 $1,675.56 $0.00 $2,477.73 $442,368.27
163 $442,368.27 $1,675.56 $0.00 $2,501.21 $446,545.04
164 $446,545.04 $1,675.56 $0.00 $2,524.83 $450,745.43
165 $450,745.43 $1,675.56 $0.00 $2,548.58 $454,969.57
166 $454,969.57 $1,675.56 $0.00 $2,572.46 $459,217.59
167 $459,217.59 $1,675.56 $0.00 $2,596.48 $463,489.63
168 $463,489.63 $1,675.56 $0.00 $2,620.64 $467,785.83
169 $467,785.83 $1,675.56 $0.00 $2,644.93 $472,106.32
170 $472,106.32 $1,675.56 $0.00 $2,669.36 $476,451.24
171 $476,451.24 $1,675.56 $0.00 $2,693.92 $480,820.72
172 $480,820.72 $1,675.56 $0.00 $2,718.63 $485,214.91
173 $485,214.91 $1,675.56 $0.00 $2,743.48 $489,633.95
174 $489,633.95 $1,675.56 $0.00 $2,768.46 $494,077.97
175 $494,077.97 $1,675.56 $0.00 $2,793.59 $498,547.12
176 $498,547.12 $1,675.56 $0.00 $2,818.86 $503,041.54
177 $503,041.54 $1,675.56 $0.00 $2,844.27 $507,561.37
178 $507,561.37 $1,675.56 $0.00 $2,869.83 $512,106.76
179 $512,106.76 $1,675.56 $0.00 $2,895.53 $516,677.85
180 $516,677.85 $1,675.56 $0.00 $2,921.37 $521,274.78
181 $521,274.78 $1,675.56 $0.00 $2,947.36 $525,897.70
182 $525,897.70 $1,675.56 $0.00 $2,973.50 $530,546.76
183 $530,546.76 $1,675.56 $0.00 $2,999.79 $535,222.11
184 $535,222.11 $1,675.56 $0.00 $3,026.22 $539,923.89
185 $539,923.89 $1,675.56 $0.00 $3,052.81 $544,652.26
186 $544,652.26 $1,675.56 $0.00 $3,079.54 $549,407.36
187 $549,407.36 $1,675.56 $0.00 $3,106.43 $554,189.35
188 $554,189.35 $1,675.56 $0.00 $3,133.47 $558,998.38
189 $558,998.38 $1,675.56 $0.00 $3,160.66 $563,834.60
190 $563,834.60 $1,675.56 $0.00 $3,188.00 $568,698.16
191 $568,698.16 $1,675.56 $0.00 $3,215.50 $573,589.22
192 $573,589.22 $1,675.56 $0.00 $3,243.16 $578,507.94
193 $578,507.94 $1,675.56 $0.00 $3,270.97 $583,454.47
194 $583,454.47 $1,675.56 $0.00 $3,298.94 $588,428.97
195 $588,428.97 $1,675.56 $0.00 $3,327.06 $593,431.59
196 $593,431.59 $1,675.56 $0.00 $3,355.35 $598,462.50
197 $598,462.50 $1,675.56 $0.00 $3,383.79 $603,521.85
198 $603,521.85 $1,675.56 $0.00 $3,412.40 $608,609.81
199 $608,609.81 $1,675.56 $0.00 $3,441.17 $613,726.54
200 $613,726.54 $1,675.56 $0.00 $3,470.10 $618,872.20
201 $618,872.20 $1,675.56 $0.00 $3,499.19 $624,046.95
202 $624,046.95 $1,675.56 $0.00 $3,528.45 $629,250.96
203 $629,250.96 $1,675.56 $0.00 $3,557.88 $634,484.40
204 $634,484.40 $1,675.56 $0.00 $3,587.47 $639,747.43
205 $639,747.43 $1,675.56 $0.00 $3,617.22 $645,040.21
206 $645,040.21 $1,675.56 $0.00 $3,647.15 $650,362.92
207 $650,362.92 $1,675.56 $0.00 $3,677.25 $655,715.73
208 $655,715.73 $1,675.56 $0.00 $3,707.51 $661,098.80
209 $661,098.80 $1,675.56 $0.00 $3,737.95 $666,512.31
210 $666,512.31 $1,675.56 $0.00 $3,768.56 $671,956.43
211 $671,956.43 $1,675.56 $0.00 $3,799.34 $677,431.33
212 $677,431.33 $1,675.56 $0.00 $3,830.30 $682,937.19
213 $682,937.19 $1,675.56 $0.00 $3,861.43 $688,474.18
214 $688,474.18 $1,675.56 $0.00 $3,892.73 $694,042.47
215 $694,042.47 $1,675.56 $0.00 $3,924.22 $699,642.25
216 $699,642.25 $1,675.56 $0.00 $3,955.88 $705,273.69
217 $705,273.69 $1,675.56 $190,999.97 $3,987.72 $519,937.00
218 $519,937.00 $1,675.56 $0.00 $2,939.80 $524,552.36
219 $524,552.36 $1,675.56 $0.00 $2,965.90 $529,193.82
220 $529,193.82 $1,675.56 $0.00 $2,992.14 $533,861.52
221 $533,861.52 $1,675.56 $0.00 $3,018.53 $538,555.61
222 $538,555.61 $1,675.56 $0.00 $3,045.07 $543,276.24
223 $543,276.24 $1,675.56 $0.00 $3,071.76 $548,023.56
224 $548,023.56 $1,675.56 $0.00 $3,098.60 $552,797.72
225 $552,797.72 $1,675.56 $0.00 $3,125.60 $557,598.88
226 $557,598.88 $1,675.56 $0.00 $3,152.75 $562,427.19
227 $562,427.19 $1,675.56 $0.00 $3,180.05 $567,282.80
228 $567,282.80 $1,675.56 $0.00 $3,207.50 $572,165.86
229 $572,165.86 $1,675.56 $204,369.97 $3,235.11 $372,706.56
230 $372,706.56 $1,675.56 $0.00 $2,107.34 $376,489.46
231 $376,489.46 $1,675.56 $0.00 $2,128.73 $380,293.75
232 $380,293.75 $1,675.56 $0.00 $2,150.24 $384,119.55
233 $384,119.55 $1,675.56 $0.00 $2,171.87 $387,966.98
234 $387,966.98 $1,675.56 $0.00 $2,193.62 $391,836.16
235 $391,836.16 $1,675.56 $0.00 $2,215.50 $395,727.22
236 $395,727.22 $1,675.56 $0.00 $2,237.50 $399,640.28
237 $399,640.28 $1,675.56 $0.00 $2,259.62 $403,575.46
238 $403,575.46 $1,675.56 $0.00 $2,281.87 $407,532.89
239 $407,532.89 $1,675.56 $0.00 $2,304.25 $411,512.70
240 $411,512.70 $1,675.56 $0.00 $2,326.75 $415,515.01
241 $415,515.01 $1,675.56 $218,675.87 $2,349.38 $200,864.08
242 $200,864.08 $1,675.56 $0.00 $1,135.71 $203,675.35
243 $203,675.35 $1,675.56 $0.00 $1,151.61 $206,502.52
244 $206,502.52 $1,675.56 $0.00 $1,167.60 $209,345.68
245 $209,345.68 $1,675.56 $0.00 $1,183.67 $212,204.91
246 $212,204.91 $1,675.56 $0.00 $1,199.84 $215,080.31
247 $215,080.31 $1,675.56 $0.00 $1,216.10 $217,971.97
248 $217,971.97 $1,675.56 $0.00 $1,232.45 $220,879.98
249 $220,879.98 $1,675.56 $0.00 $1,248.89 $223,804.43
250 $223,804.43 $1,675.56 $0.00 $1,265.42 $226,745.41
251 $226,745.41 $1,675.56 $0.00 $1,282.05 $229,703.02
252 $229,703.02 $1,675.56 $0.00 $1,298.77 $232,677.35
253 $232,677.35 $0.00 $233,983.18 $1,315.59 $9.76