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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$125,226
Monthly savings required$991

How much will it cost to send your child to Pine Manor College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $500,903.95 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $991.27 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$48,290.00
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 $991.27 $0.00 $0.00 $991.27
2 $991.27 $991.27 $0.00 $5.60 $1,988.14
3 $1,988.14 $991.27 $0.00 $11.24 $2,990.65
4 $2,990.65 $991.27 $0.00 $16.91 $3,998.83
5 $3,998.83 $991.27 $0.00 $22.61 $5,012.71
6 $5,012.71 $991.27 $0.00 $28.34 $6,032.32
7 $6,032.32 $991.27 $0.00 $34.11 $7,057.70
8 $7,057.70 $991.27 $0.00 $39.91 $8,088.88
9 $8,088.88 $991.27 $0.00 $45.74 $9,125.89
10 $9,125.89 $991.27 $0.00 $51.60 $10,168.76
11 $10,168.76 $991.27 $0.00 $57.50 $11,217.53
12 $11,217.53 $991.27 $0.00 $63.43 $12,272.23
13 $12,272.23 $991.27 $0.00 $69.39 $13,332.89
14 $13,332.89 $991.27 $0.00 $75.39 $14,399.55
15 $14,399.55 $991.27 $0.00 $81.42 $15,472.24
16 $15,472.24 $991.27 $0.00 $87.48 $16,550.99
17 $16,550.99 $991.27 $0.00 $93.58 $17,635.84
18 $17,635.84 $991.27 $0.00 $99.72 $18,726.83
19 $18,726.83 $991.27 $0.00 $105.88 $19,823.98
20 $19,823.98 $991.27 $0.00 $112.09 $20,927.34
21 $20,927.34 $991.27 $0.00 $118.33 $22,036.94
22 $22,036.94 $991.27 $0.00 $124.60 $23,152.81
23 $23,152.81 $991.27 $0.00 $130.91 $24,274.99
24 $24,274.99 $991.27 $0.00 $137.25 $25,403.51
25 $25,403.51 $991.27 $0.00 $143.64 $26,538.42
26 $26,538.42 $991.27 $0.00 $150.05 $27,679.74
27 $27,679.74 $991.27 $0.00 $156.51 $28,827.52
28 $28,827.52 $991.27 $0.00 $162.99 $29,981.78
29 $29,981.78 $991.27 $0.00 $169.52 $31,142.57
30 $31,142.57 $991.27 $0.00 $176.08 $32,309.92
31 $32,309.92 $991.27 $0.00 $182.68 $33,483.87
32 $33,483.87 $991.27 $0.00 $189.32 $34,664.46
33 $34,664.46 $991.27 $0.00 $196.00 $35,851.73
34 $35,851.73 $991.27 $0.00 $202.71 $37,045.71
35 $37,045.71 $991.27 $0.00 $209.46 $38,246.44
36 $38,246.44 $991.27 $0.00 $216.25 $39,453.96
37 $39,453.96 $991.27 $0.00 $223.08 $40,668.31
38 $40,668.31 $991.27 $0.00 $229.94 $41,889.52
39 $41,889.52 $991.27 $0.00 $236.85 $43,117.64
40 $43,117.64 $991.27 $0.00 $243.79 $44,352.70
41 $44,352.70 $991.27 $0.00 $250.78 $45,594.75
42 $45,594.75 $991.27 $0.00 $257.80 $46,843.82
43 $46,843.82 $991.27 $0.00 $264.86 $48,099.95
44 $48,099.95 $991.27 $0.00 $271.96 $49,363.18
45 $49,363.18 $991.27 $0.00 $279.11 $50,633.56
46 $50,633.56 $991.27 $0.00 $286.29 $51,911.12
47 $51,911.12 $991.27 $0.00 $293.51 $53,195.90
48 $53,195.90 $991.27 $0.00 $300.78 $54,487.95
49 $54,487.95 $991.27 $0.00 $308.08 $55,787.30
50 $55,787.30 $991.27 $0.00 $315.43 $57,094.00
51 $57,094.00 $991.27 $0.00 $322.82 $58,408.09
52 $58,408.09 $991.27 $0.00 $330.25 $59,729.61
53 $59,729.61 $991.27 $0.00 $337.72 $61,058.60
54 $61,058.60 $991.27 $0.00 $345.23 $62,395.10
55 $62,395.10 $991.27 $0.00 $352.79 $63,739.16
56 $63,739.16 $991.27 $0.00 $360.39 $65,090.82
57 $65,090.82 $991.27 $0.00 $368.03 $66,450.12
58 $66,450.12 $991.27 $0.00 $375.72 $67,817.11
59 $67,817.11 $991.27 $0.00 $383.45 $69,191.83
60 $69,191.83 $991.27 $0.00 $391.22 $70,574.32
61 $70,574.32 $991.27 $0.00 $399.04 $71,964.63
62 $71,964.63 $991.27 $0.00 $406.90 $73,362.80
63 $73,362.80 $991.27 $0.00 $414.80 $74,768.87
64 $74,768.87 $991.27 $0.00 $422.75 $76,182.89
65 $76,182.89 $991.27 $0.00 $430.75 $77,604.91
66 $77,604.91 $991.27 $0.00 $438.79 $79,034.97
67 $79,034.97 $991.27 $0.00 $446.88 $80,473.12
68 $80,473.12 $991.27 $0.00 $455.01 $81,919.40
69 $81,919.40 $991.27 $0.00 $463.18 $83,373.85
70 $83,373.85 $991.27 $0.00 $471.41 $84,836.53
71 $84,836.53 $991.27 $0.00 $479.68 $86,307.48
72 $86,307.48 $991.27 $0.00 $488.00 $87,786.75
73 $87,786.75 $991.27 $0.00 $496.36 $89,274.38
74 $89,274.38 $991.27 $0.00 $504.77 $90,770.42
75 $90,770.42 $991.27 $0.00 $513.23 $92,274.92
76 $92,274.92 $991.27 $0.00 $521.74 $93,787.93
77 $93,787.93 $991.27 $0.00 $530.29 $95,309.49
78 $95,309.49 $991.27 $0.00 $538.89 $96,839.65
79 $96,839.65 $991.27 $0.00 $547.55 $98,378.47
80 $98,378.47 $991.27 $0.00 $556.25 $99,925.99
81 $99,925.99 $991.27 $0.00 $565.00 $101,482.26
82 $101,482.26 $991.27 $0.00 $573.80 $103,047.33
83 $103,047.33 $991.27 $0.00 $582.64 $104,621.24
84 $104,621.24 $991.27 $0.00 $591.54 $106,204.05
85 $106,204.05 $991.27 $0.00 $600.49 $107,795.81
86 $107,795.81 $991.27 $0.00 $609.49 $109,396.57
87 $109,396.57 $991.27 $0.00 $618.54 $111,006.38
88 $111,006.38 $991.27 $0.00 $627.65 $112,625.30
89 $112,625.30 $991.27 $0.00 $636.80 $114,253.37
90 $114,253.37 $991.27 $0.00 $646.01 $115,890.65
91 $115,890.65 $991.27 $0.00 $655.26 $117,537.18
92 $117,537.18 $991.27 $0.00 $664.57 $119,193.02
93 $119,193.02 $991.27 $0.00 $673.93 $120,858.22
94 $120,858.22 $991.27 $0.00 $683.35 $122,532.84
95 $122,532.84 $991.27 $0.00 $692.82 $124,216.93
96 $124,216.93 $991.27 $0.00 $702.34 $125,910.54
97 $125,910.54 $991.27 $0.00 $711.92 $127,613.73
98 $127,613.73 $991.27 $0.00 $721.55 $129,326.55
99 $129,326.55 $991.27 $0.00 $731.23 $131,049.05
100 $131,049.05 $991.27 $0.00 $740.97 $132,781.29
101 $132,781.29 $991.27 $0.00 $750.76 $134,523.32
102 $134,523.32 $991.27 $0.00 $760.61 $136,275.20
103 $136,275.20 $991.27 $0.00 $770.52 $138,036.99
104 $138,036.99 $991.27 $0.00 $780.48 $139,808.74
105 $139,808.74 $991.27 $0.00 $790.50 $141,590.51
106 $141,590.51 $991.27 $0.00 $800.57 $143,382.35
107 $143,382.35 $991.27 $0.00 $810.70 $145,184.32
108 $145,184.32 $991.27 $0.00 $820.89 $146,996.48
109 $146,996.48 $991.27 $0.00 $831.14 $148,818.89
110 $148,818.89 $991.27 $0.00 $841.44 $150,651.60
111 $150,651.60 $991.27 $0.00 $851.81 $152,494.68
112 $152,494.68 $991.27 $0.00 $862.23 $154,348.18
113 $154,348.18 $991.27 $0.00 $872.71 $156,212.16
114 $156,212.16 $991.27 $0.00 $883.25 $158,086.68
115 $158,086.68 $991.27 $0.00 $893.85 $159,971.80
116 $159,971.80 $991.27 $0.00 $904.50 $161,867.57
117 $161,867.57 $991.27 $0.00 $915.22 $163,774.06
118 $163,774.06 $991.27 $0.00 $926.00 $165,691.33
119 $165,691.33 $991.27 $0.00 $936.84 $167,619.44
120 $167,619.44 $991.27 $0.00 $947.74 $169,558.45
121 $169,558.45 $991.27 $0.00 $958.71 $171,508.43
122 $171,508.43 $991.27 $0.00 $969.73 $173,469.43
123 $173,469.43 $991.27 $0.00 $980.82 $175,441.52
124 $175,441.52 $991.27 $0.00 $991.97 $177,424.76
125 $177,424.76 $991.27 $0.00 $1,003.19 $179,419.22
126 $179,419.22 $991.27 $0.00 $1,014.46 $181,424.95
127 $181,424.95 $991.27 $0.00 $1,025.80 $183,442.02
128 $183,442.02 $991.27 $0.00 $1,037.21 $185,470.50
129 $185,470.50 $991.27 $0.00 $1,048.68 $187,510.45
130 $187,510.45 $991.27 $0.00 $1,060.21 $189,561.93
131 $189,561.93 $991.27 $0.00 $1,071.81 $191,625.01
132 $191,625.01 $991.27 $0.00 $1,083.48 $193,699.76
133 $193,699.76 $991.27 $0.00 $1,095.21 $195,786.24
134 $195,786.24 $991.27 $0.00 $1,107.00 $197,884.51
135 $197,884.51 $991.27 $0.00 $1,118.87 $199,994.65
136 $199,994.65 $991.27 $0.00 $1,130.80 $202,116.72
137 $202,116.72 $991.27 $0.00 $1,142.80 $204,250.79
138 $204,250.79 $991.27 $0.00 $1,154.86 $206,396.92
139 $206,396.92 $991.27 $0.00 $1,167.00 $208,555.19
140 $208,555.19 $991.27 $0.00 $1,179.20 $210,725.66
141 $210,725.66 $991.27 $0.00 $1,191.47 $212,908.40
142 $212,908.40 $991.27 $0.00 $1,203.82 $215,103.49
143 $215,103.49 $991.27 $0.00 $1,216.23 $217,310.99
144 $217,310.99 $991.27 $0.00 $1,228.71 $219,530.97
145 $219,530.97 $991.27 $0.00 $1,241.26 $221,763.50
146 $221,763.50 $991.27 $0.00 $1,253.88 $224,008.65
147 $224,008.65 $991.27 $0.00 $1,266.58 $226,266.50
148 $226,266.50 $991.27 $0.00 $1,279.34 $228,537.11
149 $228,537.11 $991.27 $0.00 $1,292.18 $230,820.56
150 $230,820.56 $991.27 $0.00 $1,305.09 $233,116.92
151 $233,116.92 $991.27 $0.00 $1,318.08 $235,426.27
152 $235,426.27 $991.27 $0.00 $1,331.13 $237,748.67
153 $237,748.67 $991.27 $0.00 $1,344.27 $240,084.21
154 $240,084.21 $991.27 $0.00 $1,357.47 $242,432.95
155 $242,432.95 $991.27 $0.00 $1,370.75 $244,794.97
156 $244,794.97 $991.27 $0.00 $1,384.11 $247,170.35
157 $247,170.35 $991.27 $0.00 $1,397.54 $249,559.16
158 $249,559.16 $991.27 $0.00 $1,411.04 $251,961.47
159 $251,961.47 $991.27 $0.00 $1,424.63 $254,377.37
160 $254,377.37 $991.27 $0.00 $1,438.29 $256,806.93
161 $256,806.93 $991.27 $0.00 $1,452.02 $259,250.22
162 $259,250.22 $991.27 $0.00 $1,465.84 $261,707.33
163 $261,707.33 $991.27 $0.00 $1,479.73 $264,178.33
164 $264,178.33 $991.27 $0.00 $1,493.70 $266,663.30
165 $266,663.30 $991.27 $0.00 $1,507.75 $269,162.32
166 $269,162.32 $991.27 $0.00 $1,521.88 $271,675.47
167 $271,675.47 $991.27 $0.00 $1,536.09 $274,202.83
168 $274,202.83 $991.27 $0.00 $1,550.38 $276,744.48
169 $276,744.48 $991.27 $0.00 $1,564.75 $279,300.50
170 $279,300.50 $991.27 $0.00 $1,579.21 $281,870.98
171 $281,870.98 $991.27 $0.00 $1,593.74 $284,455.99
172 $284,455.99 $991.27 $0.00 $1,608.36 $287,055.62
173 $287,055.62 $991.27 $0.00 $1,623.05 $289,669.94
174 $289,669.94 $991.27 $0.00 $1,637.84 $292,299.05
175 $292,299.05 $991.27 $0.00 $1,652.70 $294,943.02
176 $294,943.02 $991.27 $0.00 $1,667.65 $297,601.94
177 $297,601.94 $991.27 $0.00 $1,682.68 $300,275.89
178 $300,275.89 $991.27 $0.00 $1,697.80 $302,964.96
179 $302,964.96 $991.27 $0.00 $1,713.01 $305,669.24
180 $305,669.24 $991.27 $0.00 $1,728.30 $308,388.81
181 $308,388.81 $991.27 $0.00 $1,743.68 $311,123.76
182 $311,123.76 $991.27 $0.00 $1,759.14 $313,874.17
183 $313,874.17 $991.27 $0.00 $1,774.69 $316,640.13
184 $316,640.13 $991.27 $0.00 $1,790.33 $319,421.73
185 $319,421.73 $991.27 $0.00 $1,806.06 $322,219.06
186 $322,219.06 $991.27 $0.00 $1,821.87 $325,032.20
187 $325,032.20 $991.27 $0.00 $1,837.78 $327,861.25
188 $327,861.25 $991.27 $0.00 $1,853.78 $330,706.30
189 $330,706.30 $991.27 $0.00 $1,869.86 $333,567.43
190 $333,567.43 $991.27 $0.00 $1,886.04 $336,444.74
191 $336,444.74 $991.27 $0.00 $1,902.31 $339,338.32
192 $339,338.32 $991.27 $0.00 $1,918.67 $342,248.26
193 $342,248.26 $991.27 $0.00 $1,935.12 $345,174.65
194 $345,174.65 $991.27 $0.00 $1,951.67 $348,117.59
195 $348,117.59 $991.27 $0.00 $1,968.31 $351,077.17
196 $351,077.17 $991.27 $0.00 $1,985.04 $354,053.48
197 $354,053.48 $991.27 $0.00 $2,001.87 $357,046.62
198 $357,046.62 $991.27 $0.00 $2,018.79 $360,056.68
199 $360,056.68 $991.27 $0.00 $2,035.81 $363,083.76
200 $363,083.76 $991.27 $0.00 $2,052.93 $366,127.96
201 $366,127.96 $991.27 $0.00 $2,070.14 $369,189.37
202 $369,189.37 $991.27 $0.00 $2,087.45 $372,268.09
203 $372,268.09 $991.27 $0.00 $2,104.86 $375,364.22
204 $375,364.22 $991.27 $0.00 $2,122.36 $378,477.85
205 $378,477.85 $991.27 $0.00 $2,139.97 $381,609.09
206 $381,609.09 $991.27 $0.00 $2,157.67 $384,758.03
207 $384,758.03 $991.27 $0.00 $2,175.48 $387,924.78
208 $387,924.78 $991.27 $0.00 $2,193.38 $391,109.43
209 $391,109.43 $991.27 $0.00 $2,211.39 $394,312.09
210 $394,312.09 $991.27 $0.00 $2,229.50 $397,532.86
211 $397,532.86 $991.27 $0.00 $2,247.71 $400,771.84
212 $400,771.84 $991.27 $0.00 $2,266.02 $404,029.13
213 $404,029.13 $991.27 $0.00 $2,284.44 $407,304.84
214 $407,304.84 $991.27 $0.00 $2,302.96 $410,599.07
215 $410,599.07 $991.27 $0.00 $2,321.59 $413,911.93
216 $413,911.93 $991.27 $0.00 $2,340.32 $417,243.52
217 $417,243.52 $991.27 $116,215.64 $2,359.16 $304,378.31
218 $304,378.31 $991.27 $0.00 $1,721.00 $307,090.58
219 $307,090.58 $991.27 $0.00 $1,736.33 $309,818.18
220 $309,818.18 $991.27 $0.00 $1,751.76 $312,561.21
221 $312,561.21 $991.27 $0.00 $1,767.27 $315,319.75
222 $315,319.75 $991.27 $0.00 $1,782.86 $318,093.88
223 $318,093.88 $991.27 $0.00 $1,798.55 $320,883.70
224 $320,883.70 $991.27 $0.00 $1,814.32 $323,689.29
225 $323,689.29 $991.27 $0.00 $1,830.19 $326,510.75
226 $326,510.75 $991.27 $0.00 $1,846.14 $329,348.16
227 $329,348.16 $991.27 $0.00 $1,862.18 $332,201.61
228 $332,201.61 $991.27 $0.00 $1,878.32 $335,071.20
229 $335,071.20 $991.27 $122,026.42 $1,894.54 $215,930.59
230 $215,930.59 $991.27 $0.00 $1,220.90 $218,142.76
231 $218,142.76 $991.27 $0.00 $1,233.41 $220,367.44
232 $220,367.44 $991.27 $0.00 $1,245.99 $222,604.70
233 $222,604.70 $991.27 $0.00 $1,258.64 $224,854.61
234 $224,854.61 $991.27 $0.00 $1,271.36 $227,117.24
235 $227,117.24 $991.27 $0.00 $1,284.15 $229,392.66
236 $229,392.66 $991.27 $0.00 $1,297.02 $231,680.95
237 $231,680.95 $991.27 $0.00 $1,309.96 $233,982.18
238 $233,982.18 $991.27 $0.00 $1,322.97 $236,296.42
239 $236,296.42 $991.27 $0.00 $1,336.05 $238,623.74
240 $238,623.74 $991.27 $0.00 $1,349.21 $240,964.22
241 $240,964.22 $991.27 $128,127.75 $1,362.45 $115,190.19
242 $115,190.19 $991.27 $0.00 $651.30 $116,832.76
243 $116,832.76 $991.27 $0.00 $660.59 $118,484.62
244 $118,484.62 $991.27 $0.00 $669.93 $120,145.82
245 $120,145.82 $991.27 $0.00 $679.32 $121,816.41
246 $121,816.41 $991.27 $0.00 $688.77 $123,496.45
247 $123,496.45 $991.27 $0.00 $698.27 $125,185.99
248 $125,185.99 $991.27 $0.00 $707.82 $126,885.08
249 $126,885.08 $991.27 $0.00 $717.43 $128,593.78
250 $128,593.78 $991.27 $0.00 $727.09 $130,312.14
251 $130,312.14 $991.27 $0.00 $736.80 $132,040.21
252 $132,040.21 $991.27 $0.00 $746.57 $133,778.05
253 $133,778.05 $0.00 $134,534.13 $756.40 $0.32