Savings Plan and Future Cost Estimation for Springfield College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2039$144,143
Monthly savings required$1,141

How much will it cost to send your child to Springfield College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $576,573.74 for students enrolling in 2039 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,141.01 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$55,585.00
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 $1,141.01 $0.00 $0.00 $1,141.01
2 $1,141.01 $1,141.01 $0.00 $6.45 $2,288.47
3 $2,288.47 $1,141.01 $0.00 $12.94 $3,442.42
4 $3,442.42 $1,141.01 $0.00 $19.46 $4,602.89
5 $4,602.89 $1,141.01 $0.00 $26.03 $5,769.93
6 $5,769.93 $1,141.01 $0.00 $32.62 $6,943.56
7 $6,943.56 $1,141.01 $0.00 $39.26 $8,123.83
8 $8,123.83 $1,141.01 $0.00 $45.93 $9,310.77
9 $9,310.77 $1,141.01 $0.00 $52.64 $10,504.42
10 $10,504.42 $1,141.01 $0.00 $59.39 $11,704.82
11 $11,704.82 $1,141.01 $0.00 $66.18 $12,912.01
12 $12,912.01 $1,141.01 $0.00 $73.01 $14,126.03
13 $14,126.03 $1,141.01 $0.00 $79.87 $15,346.91
14 $15,346.91 $1,141.01 $0.00 $86.77 $16,574.69
15 $16,574.69 $1,141.01 $0.00 $93.72 $17,809.42
16 $17,809.42 $1,141.01 $0.00 $100.70 $19,051.13
17 $19,051.13 $1,141.01 $0.00 $107.72 $20,299.86
18 $20,299.86 $1,141.01 $0.00 $114.78 $21,555.65
19 $21,555.65 $1,141.01 $0.00 $121.88 $22,818.54
20 $22,818.54 $1,141.01 $0.00 $129.02 $24,088.57
21 $24,088.57 $1,141.01 $0.00 $136.20 $25,365.78
22 $25,365.78 $1,141.01 $0.00 $143.42 $26,650.21
23 $26,650.21 $1,141.01 $0.00 $150.68 $27,941.90
24 $27,941.90 $1,141.01 $0.00 $157.99 $29,240.90
25 $29,240.90 $1,141.01 $0.00 $165.33 $30,547.24
26 $30,547.24 $1,141.01 $0.00 $172.72 $31,860.97
27 $31,860.97 $1,141.01 $0.00 $180.15 $33,182.13
28 $33,182.13 $1,141.01 $0.00 $187.62 $34,510.76
29 $34,510.76 $1,141.01 $0.00 $195.13 $35,846.90
30 $35,846.90 $1,141.01 $0.00 $202.68 $37,190.59
31 $37,190.59 $1,141.01 $0.00 $210.28 $38,541.88
32 $38,541.88 $1,141.01 $0.00 $217.92 $39,900.81
33 $39,900.81 $1,141.01 $0.00 $225.60 $41,267.42
34 $41,267.42 $1,141.01 $0.00 $233.33 $42,641.76
35 $42,641.76 $1,141.01 $0.00 $241.10 $44,023.87
36 $44,023.87 $1,141.01 $0.00 $248.92 $45,413.80
37 $45,413.80 $1,141.01 $0.00 $256.78 $46,811.59
38 $46,811.59 $1,141.01 $0.00 $264.68 $48,217.28
39 $48,217.28 $1,141.01 $0.00 $272.63 $49,630.92
40 $49,630.92 $1,141.01 $0.00 $280.62 $51,052.55
41 $51,052.55 $1,141.01 $0.00 $288.66 $52,482.22
42 $52,482.22 $1,141.01 $0.00 $296.74 $53,919.97
43 $53,919.97 $1,141.01 $0.00 $304.87 $55,365.85
44 $55,365.85 $1,141.01 $0.00 $313.05 $56,819.91
45 $56,819.91 $1,141.01 $0.00 $321.27 $58,282.19
46 $58,282.19 $1,141.01 $0.00 $329.54 $59,752.74
47 $59,752.74 $1,141.01 $0.00 $337.85 $61,231.60
48 $61,231.60 $1,141.01 $0.00 $346.21 $62,718.82
49 $62,718.82 $1,141.01 $0.00 $354.62 $64,214.45
50 $64,214.45 $1,141.01 $0.00 $363.08 $65,718.54
51 $65,718.54 $1,141.01 $0.00 $371.58 $67,231.13
52 $67,231.13 $1,141.01 $0.00 $380.13 $68,752.27
53 $68,752.27 $1,141.01 $0.00 $388.74 $70,282.02
54 $70,282.02 $1,141.01 $0.00 $397.38 $71,820.41
55 $71,820.41 $1,141.01 $0.00 $406.08 $73,367.50
56 $73,367.50 $1,141.01 $0.00 $414.83 $74,923.34
57 $74,923.34 $1,141.01 $0.00 $423.63 $76,487.98
58 $76,487.98 $1,141.01 $0.00 $432.47 $78,061.46
59 $78,061.46 $1,141.01 $0.00 $441.37 $79,643.84
60 $79,643.84 $1,141.01 $0.00 $450.32 $81,235.17
61 $81,235.17 $1,141.01 $0.00 $459.32 $82,835.50
62 $82,835.50 $1,141.01 $0.00 $468.36 $84,444.87
63 $84,444.87 $1,141.01 $0.00 $477.46 $86,063.34
64 $86,063.34 $1,141.01 $0.00 $486.61 $87,690.96
65 $87,690.96 $1,141.01 $0.00 $495.82 $89,327.79
66 $89,327.79 $1,141.01 $0.00 $505.07 $90,973.87
67 $90,973.87 $1,141.01 $0.00 $514.38 $92,629.26
68 $92,629.26 $1,141.01 $0.00 $523.74 $94,294.01
69 $94,294.01 $1,141.01 $0.00 $533.15 $95,968.17
70 $95,968.17 $1,141.01 $0.00 $542.62 $97,651.80
71 $97,651.80 $1,141.01 $0.00 $552.14 $99,344.95
72 $99,344.95 $1,141.01 $0.00 $561.71 $101,047.67
73 $101,047.67 $1,141.01 $0.00 $571.34 $102,760.02
74 $102,760.02 $1,141.01 $0.00 $581.02 $104,482.05
75 $104,482.05 $1,141.01 $0.00 $590.76 $106,213.82
76 $106,213.82 $1,141.01 $0.00 $600.55 $107,955.38
77 $107,955.38 $1,141.01 $0.00 $610.40 $109,706.79
78 $109,706.79 $1,141.01 $0.00 $620.30 $111,468.10
79 $111,468.10 $1,141.01 $0.00 $630.26 $113,239.37
80 $113,239.37 $1,141.01 $0.00 $640.27 $115,020.65
81 $115,020.65 $1,141.01 $0.00 $650.34 $116,812.00
82 $116,812.00 $1,141.01 $0.00 $660.47 $118,613.48
83 $118,613.48 $1,141.01 $0.00 $670.66 $120,425.15
84 $120,425.15 $1,141.01 $0.00 $680.90 $122,247.06
85 $122,247.06 $1,141.01 $0.00 $691.20 $124,079.27
86 $124,079.27 $1,141.01 $0.00 $701.56 $125,921.84
87 $125,921.84 $1,141.01 $0.00 $711.98 $127,774.83
88 $127,774.83 $1,141.01 $0.00 $722.46 $129,638.30
89 $129,638.30 $1,141.01 $0.00 $732.99 $131,512.30
90 $131,512.30 $1,141.01 $0.00 $743.59 $133,396.90
91 $133,396.90 $1,141.01 $0.00 $754.25 $135,292.16
92 $135,292.16 $1,141.01 $0.00 $764.96 $137,198.13
93 $137,198.13 $1,141.01 $0.00 $775.74 $139,114.88
94 $139,114.88 $1,141.01 $0.00 $786.58 $141,042.47
95 $141,042.47 $1,141.01 $0.00 $797.47 $142,980.95
96 $142,980.95 $1,141.01 $0.00 $808.44 $144,930.40
97 $144,930.40 $1,141.01 $0.00 $819.46 $146,890.87
98 $146,890.87 $1,141.01 $0.00 $830.54 $148,862.42
99 $148,862.42 $1,141.01 $0.00 $841.69 $150,845.12
100 $150,845.12 $1,141.01 $0.00 $852.90 $152,839.03
101 $152,839.03 $1,141.01 $0.00 $864.17 $154,844.21
102 $154,844.21 $1,141.01 $0.00 $875.51 $156,860.73
103 $156,860.73 $1,141.01 $0.00 $886.91 $158,888.65
104 $158,888.65 $1,141.01 $0.00 $898.38 $160,928.04
105 $160,928.04 $1,141.01 $0.00 $909.91 $162,978.96
106 $162,978.96 $1,141.01 $0.00 $921.51 $165,041.48
107 $165,041.48 $1,141.01 $0.00 $933.17 $167,115.66
108 $167,115.66 $1,141.01 $0.00 $944.90 $169,201.57
109 $169,201.57 $1,141.01 $0.00 $956.69 $171,299.27
110 $171,299.27 $1,141.01 $0.00 $968.55 $173,408.83
111 $173,408.83 $1,141.01 $0.00 $980.48 $175,530.32
112 $175,530.32 $1,141.01 $0.00 $992.47 $177,663.80
113 $177,663.80 $1,141.01 $0.00 $1,004.54 $179,809.35
114 $179,809.35 $1,141.01 $0.00 $1,016.67 $181,967.03
115 $181,967.03 $1,141.01 $0.00 $1,028.87 $184,136.91
116 $184,136.91 $1,141.01 $0.00 $1,041.14 $186,319.06
117 $186,319.06 $1,141.01 $0.00 $1,053.48 $188,513.55
118 $188,513.55 $1,141.01 $0.00 $1,065.88 $190,720.44
119 $190,720.44 $1,141.01 $0.00 $1,078.36 $192,939.81
120 $192,939.81 $1,141.01 $0.00 $1,090.91 $195,171.73
121 $195,171.73 $1,141.01 $0.00 $1,103.53 $197,416.27
122 $197,416.27 $1,141.01 $0.00 $1,116.22 $199,673.50
123 $199,673.50 $1,141.01 $0.00 $1,128.98 $201,943.49
124 $201,943.49 $1,141.01 $0.00 $1,141.82 $204,226.32
125 $204,226.32 $1,141.01 $0.00 $1,154.73 $206,522.06
126 $206,522.06 $1,141.01 $0.00 $1,167.71 $208,830.78
127 $208,830.78 $1,141.01 $0.00 $1,180.76 $211,152.55
128 $211,152.55 $1,141.01 $0.00 $1,193.89 $213,487.45
129 $213,487.45 $1,141.01 $0.00 $1,207.09 $215,835.55
130 $215,835.55 $1,141.01 $0.00 $1,220.37 $218,196.93
131 $218,196.93 $1,141.01 $0.00 $1,233.72 $220,571.66
132 $220,571.66 $1,141.01 $0.00 $1,247.14 $222,959.81
133 $222,959.81 $1,141.01 $0.00 $1,260.65 $225,361.47
134 $225,361.47 $1,141.01 $0.00 $1,274.23 $227,776.71
135 $227,776.71 $1,141.01 $0.00 $1,287.88 $230,205.60
136 $230,205.60 $1,141.01 $0.00 $1,301.62 $232,648.23
137 $232,648.23 $1,141.01 $0.00 $1,315.43 $235,104.67
138 $235,104.67 $1,141.01 $0.00 $1,329.32 $237,575.00
139 $237,575.00 $1,141.01 $0.00 $1,343.28 $240,059.29
140 $240,059.29 $1,141.01 $0.00 $1,357.33 $242,557.63
141 $242,557.63 $1,141.01 $0.00 $1,371.46 $245,070.10
142 $245,070.10 $1,141.01 $0.00 $1,385.66 $247,596.77
143 $247,596.77 $1,141.01 $0.00 $1,399.95 $250,137.73
144 $250,137.73 $1,141.01 $0.00 $1,414.32 $252,693.06
145 $252,693.06 $1,141.01 $0.00 $1,428.76 $255,262.83
146 $255,262.83 $1,141.01 $0.00 $1,443.29 $257,847.13
147 $257,847.13 $1,141.01 $0.00 $1,457.91 $260,446.05
148 $260,446.05 $1,141.01 $0.00 $1,472.60 $263,059.66
149 $263,059.66 $1,141.01 $0.00 $1,487.38 $265,688.05
150 $265,688.05 $1,141.01 $0.00 $1,502.24 $268,331.30
151 $268,331.30 $1,141.01 $0.00 $1,517.18 $270,989.49
152 $270,989.49 $1,141.01 $0.00 $1,532.21 $273,662.71
153 $273,662.71 $1,141.01 $0.00 $1,547.33 $276,351.05
154 $276,351.05 $1,141.01 $0.00 $1,562.53 $279,054.59
155 $279,054.59 $1,141.01 $0.00 $1,577.82 $281,773.42
156 $281,773.42 $1,141.01 $0.00 $1,593.19 $284,507.62
157 $284,507.62 $1,141.01 $0.00 $1,608.65 $287,257.28
158 $287,257.28 $1,141.01 $0.00 $1,624.19 $290,022.48
159 $290,022.48 $1,141.01 $0.00 $1,639.83 $292,803.32
160 $292,803.32 $1,141.01 $0.00 $1,655.55 $295,599.88
161 $295,599.88 $1,141.01 $0.00 $1,671.36 $298,412.25
162 $298,412.25 $1,141.01 $0.00 $1,687.27 $301,240.53
163 $301,240.53 $1,141.01 $0.00 $1,703.26 $304,084.80
164 $304,084.80 $1,141.01 $0.00 $1,719.34 $306,945.15
165 $306,945.15 $1,141.01 $0.00 $1,735.51 $309,821.67
166 $309,821.67 $1,141.01 $0.00 $1,751.78 $312,714.46
167 $312,714.46 $1,141.01 $0.00 $1,768.13 $315,623.60
168 $315,623.60 $1,141.01 $0.00 $1,784.58 $318,549.19
169 $318,549.19 $1,141.01 $0.00 $1,801.12 $321,491.32
170 $321,491.32 $1,141.01 $0.00 $1,817.76 $324,450.09
171 $324,450.09 $1,141.01 $0.00 $1,834.49 $327,425.59
172 $327,425.59 $1,141.01 $0.00 $1,851.31 $330,417.91
173 $330,417.91 $1,141.01 $0.00 $1,868.23 $333,427.15
174 $333,427.15 $1,141.01 $0.00 $1,885.25 $336,453.41
175 $336,453.41 $1,141.01 $0.00 $1,902.36 $339,496.78
176 $339,496.78 $1,141.01 $0.00 $1,919.56 $342,557.35
177 $342,557.35 $1,141.01 $0.00 $1,936.87 $345,635.23
178 $345,635.23 $1,141.01 $0.00 $1,954.27 $348,730.51
179 $348,730.51 $1,141.01 $0.00 $1,971.77 $351,843.29
180 $351,843.29 $1,141.01 $0.00 $1,989.37 $354,973.67
181 $354,973.67 $1,141.01 $0.00 $2,007.07 $358,121.75
182 $358,121.75 $1,141.01 $0.00 $2,024.87 $361,287.63
183 $361,287.63 $1,141.01 $0.00 $2,042.77 $364,471.41
184 $364,471.41 $1,141.01 $0.00 $2,060.77 $367,673.19
185 $367,673.19 $1,141.01 $0.00 $2,078.88 $370,893.08
186 $370,893.08 $1,141.01 $0.00 $2,097.08 $374,131.17
187 $374,131.17 $1,141.01 $0.00 $2,115.39 $377,387.57
188 $377,387.57 $1,141.01 $0.00 $2,133.80 $380,662.38
189 $380,662.38 $1,141.01 $0.00 $2,152.32 $383,955.71
190 $383,955.71 $1,141.01 $0.00 $2,170.94 $387,267.66
191 $387,267.66 $1,141.01 $0.00 $2,189.67 $390,598.34
192 $390,598.34 $1,141.01 $0.00 $2,208.50 $393,947.85
193 $393,947.85 $1,141.01 $0.00 $2,227.44 $397,316.30
194 $397,316.30 $1,141.01 $0.00 $2,246.48 $400,703.79
195 $400,703.79 $1,141.01 $0.00 $2,265.64 $404,110.44
196 $404,110.44 $1,141.01 $0.00 $2,284.90 $407,536.35
197 $407,536.35 $1,141.01 $0.00 $2,304.27 $410,981.63
198 $410,981.63 $1,141.01 $0.00 $2,323.75 $414,446.39
199 $414,446.39 $1,141.01 $0.00 $2,343.34 $417,930.74
200 $417,930.74 $1,141.01 $0.00 $2,363.04 $421,434.79
201 $421,434.79 $1,141.01 $0.00 $2,382.85 $424,958.65
202 $424,958.65 $1,141.01 $0.00 $2,402.78 $428,502.44
203 $428,502.44 $1,141.01 $0.00 $2,422.82 $432,066.27
204 $432,066.27 $1,141.01 $0.00 $2,442.97 $435,650.25
205 $435,650.25 $1,141.01 $0.00 $2,463.23 $439,254.49
206 $439,254.49 $1,141.01 $0.00 $2,483.61 $442,879.11
207 $442,879.11 $1,141.01 $0.00 $2,504.10 $446,524.22
208 $446,524.22 $1,141.01 $0.00 $2,524.71 $450,189.94
209 $450,189.94 $1,141.01 $0.00 $2,545.44 $453,876.39
210 $453,876.39 $1,141.01 $0.00 $2,566.28 $457,583.68
211 $457,583.68 $1,141.01 $0.00 $2,587.24 $461,311.93
212 $461,311.93 $1,141.01 $0.00 $2,608.32 $465,061.26
213 $465,061.26 $1,141.01 $0.00 $2,629.52 $468,831.79
214 $468,831.79 $1,141.01 $0.00 $2,650.84 $472,623.64
215 $472,623.64 $1,141.01 $0.00 $2,672.28 $476,436.93
216 $476,436.93 $1,141.01 $0.00 $2,693.84 $480,271.78
217 $480,271.78 $1,141.01 $133,771.93 $2,715.53 $350,356.39
218 $350,356.39 $1,141.01 $0.00 $1,980.97 $353,478.37
219 $353,478.37 $1,141.01 $0.00 $1,998.62 $356,618.00
220 $356,618.00 $1,141.01 $0.00 $2,016.37 $359,775.38
221 $359,775.38 $1,141.01 $0.00 $2,034.22 $362,950.61
222 $362,950.61 $1,141.01 $0.00 $2,052.18 $366,143.80
223 $366,143.80 $1,141.01 $0.00 $2,070.23 $369,355.04
224 $369,355.04 $1,141.01 $0.00 $2,088.39 $372,584.44
225 $372,584.44 $1,141.01 $0.00 $2,106.65 $375,832.10
226 $375,832.10 $1,141.01 $0.00 $2,125.01 $379,098.12
227 $379,098.12 $1,141.01 $0.00 $2,143.48 $382,382.61
228 $382,382.61 $1,141.01 $0.00 $2,162.05 $385,685.67
229 $385,685.67 $1,141.01 $140,460.53 $2,180.72 $248,546.87
230 $248,546.87 $1,141.01 $0.00 $1,405.32 $251,093.20
231 $251,093.20 $1,141.01 $0.00 $1,419.72 $253,653.93
232 $253,653.93 $1,141.01 $0.00 $1,434.20 $256,229.14
233 $256,229.14 $1,141.01 $0.00 $1,448.76 $258,818.91
234 $258,818.91 $1,141.01 $0.00 $1,463.40 $261,423.32
235 $261,423.32 $1,141.01 $0.00 $1,478.13 $264,042.46
236 $264,042.46 $1,141.01 $0.00 $1,492.93 $266,676.40
237 $266,676.40 $1,141.01 $0.00 $1,507.83 $269,325.24
238 $269,325.24 $1,141.01 $0.00 $1,522.80 $271,989.05
239 $271,989.05 $1,141.01 $0.00 $1,537.87 $274,667.93
240 $274,667.93 $1,141.01 $0.00 $1,553.01 $277,361.95
241 $277,361.95 $1,141.01 $147,483.55 $1,568.24 $132,587.65
242 $132,587.65 $1,141.01 $0.00 $749.67 $134,478.33
243 $134,478.33 $1,141.01 $0.00 $760.36 $136,379.70
244 $136,379.70 $1,141.01 $0.00 $771.11 $138,291.82
245 $138,291.82 $1,141.01 $0.00 $781.92 $140,214.75
246 $140,214.75 $1,141.01 $0.00 $792.79 $142,148.55
247 $142,148.55 $1,141.01 $0.00 $803.73 $144,093.29
248 $144,093.29 $1,141.01 $0.00 $814.72 $146,049.02
249 $146,049.02 $1,141.01 $0.00 $825.78 $148,015.81
250 $148,015.81 $1,141.01 $0.00 $836.90 $149,993.72
251 $149,993.72 $1,141.01 $0.00 $848.09 $151,982.82
252 $151,982.82 $1,141.01 $0.00 $859.33 $153,983.16
253 $153,983.16 $0.00 $154,857.73 $870.64 ($3.93)