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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$141,913
Monthly savings required$1,123

How much will it cost to send your child to Wheelock College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $567,653.11 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,123.35 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$54,725.00
Years until enrollment18
Annual Tuition Increase5%
Current Savings$0.00
After Tax Return on Savings7%
Years of enrollment4

Current Savings Shortfall

College Savings Calculator

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Planned Savings Balance

College Savings Schedule

Month Begin Deposit Withdraw Interest End
1 $0.00 $1,123.35 $0.00 $0.00 $1,123.35
2 $1,123.35 $1,123.35 $0.00 $6.35 $2,253.05
3 $2,253.05 $1,123.35 $0.00 $12.74 $3,389.14
4 $3,389.14 $1,123.35 $0.00 $19.16 $4,531.65
5 $4,531.65 $1,123.35 $0.00 $25.62 $5,680.62
6 $5,680.62 $1,123.35 $0.00 $32.12 $6,836.09
7 $6,836.09 $1,123.35 $0.00 $38.65 $7,998.09
8 $7,998.09 $1,123.35 $0.00 $45.22 $9,166.66
9 $9,166.66 $1,123.35 $0.00 $51.83 $10,341.84
10 $10,341.84 $1,123.35 $0.00 $58.47 $11,523.66
11 $11,523.66 $1,123.35 $0.00 $65.16 $12,712.17
12 $12,712.17 $1,123.35 $0.00 $71.88 $13,907.40
13 $13,907.40 $1,123.35 $0.00 $78.63 $15,109.38
14 $15,109.38 $1,123.35 $0.00 $85.43 $16,318.16
15 $16,318.16 $1,123.35 $0.00 $92.27 $17,533.78
16 $17,533.78 $1,123.35 $0.00 $99.14 $18,756.27
17 $18,756.27 $1,123.35 $0.00 $106.05 $19,985.67
18 $19,985.67 $1,123.35 $0.00 $113.00 $21,222.02
19 $21,222.02 $1,123.35 $0.00 $119.99 $22,465.36
20 $22,465.36 $1,123.35 $0.00 $127.02 $23,715.73
21 $23,715.73 $1,123.35 $0.00 $134.09 $24,973.17
22 $24,973.17 $1,123.35 $0.00 $141.20 $26,237.72
23 $26,237.72 $1,123.35 $0.00 $148.35 $27,509.42
24 $27,509.42 $1,123.35 $0.00 $155.54 $28,788.31
25 $28,788.31 $1,123.35 $0.00 $162.77 $30,074.43
26 $30,074.43 $1,123.35 $0.00 $170.05 $31,367.83
27 $31,367.83 $1,123.35 $0.00 $177.36 $32,668.54
28 $32,668.54 $1,123.35 $0.00 $184.71 $33,976.60
29 $33,976.60 $1,123.35 $0.00 $192.11 $35,292.06
30 $35,292.06 $1,123.35 $0.00 $199.55 $36,614.96
31 $36,614.96 $1,123.35 $0.00 $207.03 $37,945.34
32 $37,945.34 $1,123.35 $0.00 $214.55 $39,283.24
33 $39,283.24 $1,123.35 $0.00 $222.11 $40,628.70
34 $40,628.70 $1,123.35 $0.00 $229.72 $41,981.77
35 $41,981.77 $1,123.35 $0.00 $237.37 $43,342.49
36 $43,342.49 $1,123.35 $0.00 $245.06 $44,710.90
37 $44,710.90 $1,123.35 $0.00 $252.80 $46,087.05
38 $46,087.05 $1,123.35 $0.00 $260.58 $47,470.98
39 $47,470.98 $1,123.35 $0.00 $268.41 $48,862.74
40 $48,862.74 $1,123.35 $0.00 $276.28 $50,262.37
41 $50,262.37 $1,123.35 $0.00 $284.19 $51,669.91
42 $51,669.91 $1,123.35 $0.00 $292.15 $53,085.41
43 $53,085.41 $1,123.35 $0.00 $300.15 $54,508.91
44 $54,508.91 $1,123.35 $0.00 $308.20 $55,940.46
45 $55,940.46 $1,123.35 $0.00 $316.30 $57,380.11
46 $57,380.11 $1,123.35 $0.00 $324.44 $58,827.90
47 $58,827.90 $1,123.35 $0.00 $332.62 $60,283.87
48 $60,283.87 $1,123.35 $0.00 $340.85 $61,748.07
49 $61,748.07 $1,123.35 $0.00 $349.13 $63,220.55
50 $63,220.55 $1,123.35 $0.00 $357.46 $64,701.36
51 $64,701.36 $1,123.35 $0.00 $365.83 $66,190.54
52 $66,190.54 $1,123.35 $0.00 $374.25 $67,688.14
53 $67,688.14 $1,123.35 $0.00 $382.72 $69,194.21
54 $69,194.21 $1,123.35 $0.00 $391.23 $70,708.79
55 $70,708.79 $1,123.35 $0.00 $399.80 $72,231.94
56 $72,231.94 $1,123.35 $0.00 $408.41 $73,763.70
57 $73,763.70 $1,123.35 $0.00 $417.07 $75,304.12
58 $75,304.12 $1,123.35 $0.00 $425.78 $76,853.25
59 $76,853.25 $1,123.35 $0.00 $434.54 $78,411.14
60 $78,411.14 $1,123.35 $0.00 $443.35 $79,977.84
61 $79,977.84 $1,123.35 $0.00 $452.21 $81,553.40
62 $81,553.40 $1,123.35 $0.00 $461.11 $83,137.86
63 $83,137.86 $1,123.35 $0.00 $470.07 $84,731.28
64 $84,731.28 $1,123.35 $0.00 $479.08 $86,333.71
65 $86,333.71 $1,123.35 $0.00 $488.14 $87,945.20
66 $87,945.20 $1,123.35 $0.00 $497.25 $89,565.80
67 $89,565.80 $1,123.35 $0.00 $506.42 $91,195.57
68 $91,195.57 $1,123.35 $0.00 $515.63 $92,834.55
69 $92,834.55 $1,123.35 $0.00 $524.90 $94,482.80
70 $94,482.80 $1,123.35 $0.00 $534.22 $96,140.37
71 $96,140.37 $1,123.35 $0.00 $543.59 $97,807.31
72 $97,807.31 $1,123.35 $0.00 $553.02 $99,483.68
73 $99,483.68 $1,123.35 $0.00 $562.50 $101,169.53
74 $101,169.53 $1,123.35 $0.00 $572.03 $102,864.91
75 $102,864.91 $1,123.35 $0.00 $581.61 $104,569.87
76 $104,569.87 $1,123.35 $0.00 $591.25 $106,284.47
77 $106,284.47 $1,123.35 $0.00 $600.95 $108,008.77
78 $108,008.77 $1,123.35 $0.00 $610.70 $109,742.82
79 $109,742.82 $1,123.35 $0.00 $620.50 $111,486.67
80 $111,486.67 $1,123.35 $0.00 $630.36 $113,240.38
81 $113,240.38 $1,123.35 $0.00 $640.28 $115,004.01
82 $115,004.01 $1,123.35 $0.00 $650.25 $116,777.61
83 $116,777.61 $1,123.35 $0.00 $660.28 $118,561.24
84 $118,561.24 $1,123.35 $0.00 $670.36 $120,354.95
85 $120,354.95 $1,123.35 $0.00 $680.50 $122,158.80
86 $122,158.80 $1,123.35 $0.00 $690.70 $123,972.85
87 $123,972.85 $1,123.35 $0.00 $700.96 $125,797.16
88 $125,797.16 $1,123.35 $0.00 $711.28 $127,631.79
89 $127,631.79 $1,123.35 $0.00 $721.65 $129,476.79
90 $129,476.79 $1,123.35 $0.00 $732.08 $131,332.22
91 $131,332.22 $1,123.35 $0.00 $742.57 $133,198.14
92 $133,198.14 $1,123.35 $0.00 $753.12 $135,074.61
93 $135,074.61 $1,123.35 $0.00 $763.73 $136,961.69
94 $136,961.69 $1,123.35 $0.00 $774.40 $138,859.44
95 $138,859.44 $1,123.35 $0.00 $785.13 $140,767.92
96 $140,767.92 $1,123.35 $0.00 $795.92 $142,687.19
97 $142,687.19 $1,123.35 $0.00 $806.77 $144,617.31
98 $144,617.31 $1,123.35 $0.00 $817.69 $146,558.35
99 $146,558.35 $1,123.35 $0.00 $828.66 $148,510.36
100 $148,510.36 $1,123.35 $0.00 $839.70 $150,473.41
101 $150,473.41 $1,123.35 $0.00 $850.80 $152,447.56
102 $152,447.56 $1,123.35 $0.00 $861.96 $154,432.87
103 $154,432.87 $1,123.35 $0.00 $873.19 $156,429.41
104 $156,429.41 $1,123.35 $0.00 $884.47 $158,437.23
105 $158,437.23 $1,123.35 $0.00 $895.83 $160,456.41
106 $160,456.41 $1,123.35 $0.00 $907.24 $162,487.00
107 $162,487.00 $1,123.35 $0.00 $918.73 $164,529.08
108 $164,529.08 $1,123.35 $0.00 $930.27 $166,582.70
109 $166,582.70 $1,123.35 $0.00 $941.88 $168,647.93
110 $168,647.93 $1,123.35 $0.00 $953.56 $170,724.84
111 $170,724.84 $1,123.35 $0.00 $965.30 $172,813.49
112 $172,813.49 $1,123.35 $0.00 $977.11 $174,913.95
113 $174,913.95 $1,123.35 $0.00 $988.99 $177,026.29
114 $177,026.29 $1,123.35 $0.00 $1,000.93 $179,150.57
115 $179,150.57 $1,123.35 $0.00 $1,012.94 $181,286.86
116 $181,286.86 $1,123.35 $0.00 $1,025.02 $183,435.23
117 $183,435.23 $1,123.35 $0.00 $1,037.17 $185,595.75
118 $185,595.75 $1,123.35 $0.00 $1,049.39 $187,768.49
119 $187,768.49 $1,123.35 $0.00 $1,061.67 $189,953.51
120 $189,953.51 $1,123.35 $0.00 $1,074.02 $192,150.88
121 $192,150.88 $1,123.35 $0.00 $1,086.45 $194,360.68
122 $194,360.68 $1,123.35 $0.00 $1,098.94 $196,582.97
123 $196,582.97 $1,123.35 $0.00 $1,111.51 $198,817.83
124 $198,817.83 $1,123.35 $0.00 $1,124.14 $201,065.32
125 $201,065.32 $1,123.35 $0.00 $1,136.85 $203,325.52
126 $203,325.52 $1,123.35 $0.00 $1,149.63 $205,598.50
127 $205,598.50 $1,123.35 $0.00 $1,162.48 $207,884.33
128 $207,884.33 $1,123.35 $0.00 $1,175.41 $210,183.09
129 $210,183.09 $1,123.35 $0.00 $1,188.41 $212,494.85
130 $212,494.85 $1,123.35 $0.00 $1,201.48 $214,819.68
131 $214,819.68 $1,123.35 $0.00 $1,214.62 $217,157.65
132 $217,157.65 $1,123.35 $0.00 $1,227.84 $219,508.84
133 $219,508.84 $1,123.35 $0.00 $1,241.13 $221,873.32
134 $221,873.32 $1,123.35 $0.00 $1,254.50 $224,251.17
135 $224,251.17 $1,123.35 $0.00 $1,267.95 $226,642.47
136 $226,642.47 $1,123.35 $0.00 $1,281.47 $229,047.29
137 $229,047.29 $1,123.35 $0.00 $1,295.07 $231,465.71
138 $231,465.71 $1,123.35 $0.00 $1,308.74 $233,897.80
139 $233,897.80 $1,123.35 $0.00 $1,322.49 $236,343.64
140 $236,343.64 $1,123.35 $0.00 $1,336.32 $238,803.31
141 $238,803.31 $1,123.35 $0.00 $1,350.23 $241,276.89
142 $241,276.89 $1,123.35 $0.00 $1,364.21 $243,764.45
143 $243,764.45 $1,123.35 $0.00 $1,378.28 $246,266.08
144 $246,266.08 $1,123.35 $0.00 $1,392.42 $248,781.85
145 $248,781.85 $1,123.35 $0.00 $1,406.65 $251,311.85
146 $251,311.85 $1,123.35 $0.00 $1,420.95 $253,856.15
147 $253,856.15 $1,123.35 $0.00 $1,435.34 $256,414.84
148 $256,414.84 $1,123.35 $0.00 $1,449.81 $258,988.00
149 $258,988.00 $1,123.35 $0.00 $1,464.36 $261,575.71
150 $261,575.71 $1,123.35 $0.00 $1,478.99 $264,178.05
151 $264,178.05 $1,123.35 $0.00 $1,493.70 $266,795.10
152 $266,795.10 $1,123.35 $0.00 $1,508.50 $269,426.95
153 $269,426.95 $1,123.35 $0.00 $1,523.38 $272,073.68
154 $272,073.68 $1,123.35 $0.00 $1,538.34 $274,735.37
155 $274,735.37 $1,123.35 $0.00 $1,553.39 $277,412.11
156 $277,412.11 $1,123.35 $0.00 $1,568.53 $280,103.99
157 $280,103.99 $1,123.35 $0.00 $1,583.75 $282,811.09
158 $282,811.09 $1,123.35 $0.00 $1,599.06 $285,533.50
159 $285,533.50 $1,123.35 $0.00 $1,614.45 $288,271.30
160 $288,271.30 $1,123.35 $0.00 $1,629.93 $291,024.58
161 $291,024.58 $1,123.35 $0.00 $1,645.50 $293,793.43
162 $293,793.43 $1,123.35 $0.00 $1,661.15 $296,577.93
163 $296,577.93 $1,123.35 $0.00 $1,676.89 $299,378.17
164 $299,378.17 $1,123.35 $0.00 $1,692.73 $302,194.25
165 $302,194.25 $1,123.35 $0.00 $1,708.65 $305,026.25
166 $305,026.25 $1,123.35 $0.00 $1,724.66 $307,874.26
167 $307,874.26 $1,123.35 $0.00 $1,740.77 $310,738.38
168 $310,738.38 $1,123.35 $0.00 $1,756.96 $313,618.69
169 $313,618.69 $1,123.35 $0.00 $1,773.25 $316,515.29
170 $316,515.29 $1,123.35 $0.00 $1,789.62 $319,428.26
171 $319,428.26 $1,123.35 $0.00 $1,806.09 $322,357.70
172 $322,357.70 $1,123.35 $0.00 $1,822.66 $325,303.71
173 $325,303.71 $1,123.35 $0.00 $1,839.31 $328,266.37
174 $328,266.37 $1,123.35 $0.00 $1,856.07 $331,245.79
175 $331,245.79 $1,123.35 $0.00 $1,872.91 $334,242.05
176 $334,242.05 $1,123.35 $0.00 $1,889.85 $337,255.25
177 $337,255.25 $1,123.35 $0.00 $1,906.89 $340,285.49
178 $340,285.49 $1,123.35 $0.00 $1,924.02 $343,332.86
179 $343,332.86 $1,123.35 $0.00 $1,941.25 $346,397.46
180 $346,397.46 $1,123.35 $0.00 $1,958.58 $349,479.39
181 $349,479.39 $1,123.35 $0.00 $1,976.01 $352,578.75
182 $352,578.75 $1,123.35 $0.00 $1,993.53 $355,695.63
183 $355,695.63 $1,123.35 $0.00 $2,011.15 $358,830.13
184 $358,830.13 $1,123.35 $0.00 $2,028.88 $361,982.36
185 $361,982.36 $1,123.35 $0.00 $2,046.70 $365,152.41
186 $365,152.41 $1,123.35 $0.00 $2,064.62 $368,340.38
187 $368,340.38 $1,123.35 $0.00 $2,082.65 $371,546.38
188 $371,546.38 $1,123.35 $0.00 $2,100.78 $374,770.51
189 $374,770.51 $1,123.35 $0.00 $2,119.01 $378,012.87
190 $378,012.87 $1,123.35 $0.00 $2,137.34 $381,273.56
191 $381,273.56 $1,123.35 $0.00 $2,155.78 $384,552.69
192 $384,552.69 $1,123.35 $0.00 $2,174.32 $387,850.36
193 $387,850.36 $1,123.35 $0.00 $2,192.96 $391,166.67
194 $391,166.67 $1,123.35 $0.00 $2,211.71 $394,501.73
195 $394,501.73 $1,123.35 $0.00 $2,230.57 $397,855.65
196 $397,855.65 $1,123.35 $0.00 $2,249.53 $401,228.53
197 $401,228.53 $1,123.35 $0.00 $2,268.60 $404,620.48
198 $404,620.48 $1,123.35 $0.00 $2,287.78 $408,031.61
199 $408,031.61 $1,123.35 $0.00 $2,307.07 $411,462.03
200 $411,462.03 $1,123.35 $0.00 $2,326.47 $414,911.85
201 $414,911.85 $1,123.35 $0.00 $2,345.97 $418,381.17
202 $418,381.17 $1,123.35 $0.00 $2,365.59 $421,870.11
203 $421,870.11 $1,123.35 $0.00 $2,385.31 $425,378.77
204 $425,378.77 $1,123.35 $0.00 $2,405.15 $428,907.27
205 $428,907.27 $1,123.35 $0.00 $2,425.10 $432,455.72
206 $432,455.72 $1,123.35 $0.00 $2,445.17 $436,024.24
207 $436,024.24 $1,123.35 $0.00 $2,465.34 $439,612.93
208 $439,612.93 $1,123.35 $0.00 $2,485.64 $443,221.92
209 $443,221.92 $1,123.35 $0.00 $2,506.04 $446,851.31
210 $446,851.31 $1,123.35 $0.00 $2,526.56 $450,501.22
211 $450,501.22 $1,123.35 $0.00 $2,547.20 $454,171.77
212 $454,171.77 $1,123.35 $0.00 $2,567.95 $457,863.07
213 $457,863.07 $1,123.35 $0.00 $2,588.82 $461,575.24
214 $461,575.24 $1,123.35 $0.00 $2,609.81 $465,308.40
215 $465,308.40 $1,123.35 $0.00 $2,630.92 $469,062.67
216 $469,062.67 $1,123.35 $0.00 $2,652.15 $472,838.17
217 $472,838.17 $1,123.35 $131,702.24 $2,673.50 $344,932.78
218 $344,932.78 $1,123.35 $0.00 $1,950.30 $348,006.43
219 $348,006.43 $1,123.35 $0.00 $1,967.68 $351,097.46
220 $351,097.46 $1,123.35 $0.00 $1,985.16 $354,205.97
221 $354,205.97 $1,123.35 $0.00 $2,002.73 $357,332.05
222 $357,332.05 $1,123.35 $0.00 $2,020.41 $360,475.81
223 $360,475.81 $1,123.35 $0.00 $2,038.18 $363,637.34
224 $363,637.34 $1,123.35 $0.00 $2,056.06 $366,816.75
225 $366,816.75 $1,123.35 $0.00 $2,074.04 $370,014.14
226 $370,014.14 $1,123.35 $0.00 $2,092.11 $373,229.60
227 $373,229.60 $1,123.35 $0.00 $2,110.29 $376,463.24
228 $376,463.24 $1,123.35 $0.00 $2,128.58 $379,715.17
229 $379,715.17 $1,123.35 $138,287.35 $2,146.96 $244,698.13
230 $244,698.13 $1,123.35 $0.00 $1,383.56 $247,205.04
231 $247,205.04 $1,123.35 $0.00 $1,397.73 $249,726.12
232 $249,726.12 $1,123.35 $0.00 $1,411.99 $252,261.46
233 $252,261.46 $1,123.35 $0.00 $1,426.32 $254,811.13
234 $254,811.13 $1,123.35 $0.00 $1,440.74 $257,375.22
235 $257,375.22 $1,123.35 $0.00 $1,455.24 $259,953.81
236 $259,953.81 $1,123.35 $0.00 $1,469.82 $262,546.98
237 $262,546.98 $1,123.35 $0.00 $1,484.48 $265,154.81
238 $265,154.81 $1,123.35 $0.00 $1,499.22 $267,777.38
239 $267,777.38 $1,123.35 $0.00 $1,514.05 $270,414.78
240 $270,414.78 $1,123.35 $0.00 $1,528.96 $273,067.09
241 $273,067.09 $1,123.35 $145,201.72 $1,543.96 $130,532.68
242 $130,532.68 $1,123.35 $0.00 $738.05 $132,394.08
243 $132,394.08 $1,123.35 $0.00 $748.58 $134,266.01
244 $134,266.01 $1,123.35 $0.00 $759.16 $136,148.52
245 $136,148.52 $1,123.35 $0.00 $769.80 $138,041.67
246 $138,041.67 $1,123.35 $0.00 $780.51 $139,945.53
247 $139,945.53 $1,123.35 $0.00 $791.27 $141,860.15
248 $141,860.15 $1,123.35 $0.00 $802.10 $143,785.60
249 $143,785.60 $1,123.35 $0.00 $812.98 $145,721.93
250 $145,721.93 $1,123.35 $0.00 $823.93 $147,669.21
251 $147,669.21 $1,123.35 $0.00 $834.94 $149,627.50
252 $149,627.50 $1,123.35 $0.00 $846.02 $151,596.87
253 $151,596.87 $0.00 $152,461.80 $857.15 ($7.78)