Savings Plan and Future Cost Estimation for Kettering University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$150,613
Monthly savings required$1,192

How much will it cost to send your child to Kettering University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $602,453.95 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,192.24 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$58,080.00
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 $1,192.24 $0.00 $0.00 $1,192.24
2 $1,192.24 $1,192.24 $0.00 $6.74 $2,391.22
3 $2,391.22 $1,192.24 $0.00 $13.52 $3,596.98
4 $3,596.98 $1,192.24 $0.00 $20.34 $4,809.56
5 $4,809.56 $1,192.24 $0.00 $27.19 $6,028.99
6 $6,028.99 $1,192.24 $0.00 $34.09 $7,255.32
7 $7,255.32 $1,192.24 $0.00 $41.02 $8,488.58
8 $8,488.58 $1,192.24 $0.00 $48.00 $9,728.82
9 $9,728.82 $1,192.24 $0.00 $55.01 $10,976.07
10 $10,976.07 $1,192.24 $0.00 $62.06 $12,230.37
11 $12,230.37 $1,192.24 $0.00 $69.15 $13,491.76
12 $13,491.76 $1,192.24 $0.00 $76.28 $14,760.28
13 $14,760.28 $1,192.24 $0.00 $83.46 $16,035.98
14 $16,035.98 $1,192.24 $0.00 $90.67 $17,318.89
15 $17,318.89 $1,192.24 $0.00 $97.92 $18,609.05
16 $18,609.05 $1,192.24 $0.00 $105.22 $19,906.51
17 $19,906.51 $1,192.24 $0.00 $112.55 $21,211.30
18 $21,211.30 $1,192.24 $0.00 $119.93 $22,523.47
19 $22,523.47 $1,192.24 $0.00 $127.35 $23,843.06
20 $23,843.06 $1,192.24 $0.00 $134.81 $25,170.11
21 $25,170.11 $1,192.24 $0.00 $142.32 $26,504.67
22 $26,504.67 $1,192.24 $0.00 $149.86 $27,846.77
23 $27,846.77 $1,192.24 $0.00 $157.45 $29,196.46
24 $29,196.46 $1,192.24 $0.00 $165.08 $30,553.78
25 $30,553.78 $1,192.24 $0.00 $172.76 $31,918.78
26 $31,918.78 $1,192.24 $0.00 $180.47 $33,291.49
27 $33,291.49 $1,192.24 $0.00 $188.23 $34,671.96
28 $34,671.96 $1,192.24 $0.00 $196.04 $36,060.24
29 $36,060.24 $1,192.24 $0.00 $203.89 $37,456.37
30 $37,456.37 $1,192.24 $0.00 $211.78 $38,860.39
31 $38,860.39 $1,192.24 $0.00 $219.72 $40,272.35
32 $40,272.35 $1,192.24 $0.00 $227.71 $41,692.30
33 $41,692.30 $1,192.24 $0.00 $235.73 $43,120.27
34 $43,120.27 $1,192.24 $0.00 $243.81 $44,556.32
35 $44,556.32 $1,192.24 $0.00 $251.93 $46,000.49
36 $46,000.49 $1,192.24 $0.00 $260.09 $47,452.82
37 $47,452.82 $1,192.24 $0.00 $268.31 $48,913.37
38 $48,913.37 $1,192.24 $0.00 $276.56 $50,382.17
39 $50,382.17 $1,192.24 $0.00 $284.87 $51,859.28
40 $51,859.28 $1,192.24 $0.00 $293.22 $53,344.74
41 $53,344.74 $1,192.24 $0.00 $301.62 $54,838.60
42 $54,838.60 $1,192.24 $0.00 $310.07 $56,340.91
43 $56,340.91 $1,192.24 $0.00 $318.56 $57,851.71
44 $57,851.71 $1,192.24 $0.00 $327.10 $59,371.05
45 $59,371.05 $1,192.24 $0.00 $335.69 $60,898.98
46 $60,898.98 $1,192.24 $0.00 $344.33 $62,435.55
47 $62,435.55 $1,192.24 $0.00 $353.02 $63,980.81
48 $63,980.81 $1,192.24 $0.00 $361.76 $65,534.81
49 $65,534.81 $1,192.24 $0.00 $370.54 $67,097.59
50 $67,097.59 $1,192.24 $0.00 $379.38 $68,669.21
51 $68,669.21 $1,192.24 $0.00 $388.27 $70,249.72
52 $70,249.72 $1,192.24 $0.00 $397.20 $71,839.16
53 $71,839.16 $1,192.24 $0.00 $406.19 $73,437.59
54 $73,437.59 $1,192.24 $0.00 $415.23 $75,045.06
55 $75,045.06 $1,192.24 $0.00 $424.32 $76,661.62
56 $76,661.62 $1,192.24 $0.00 $433.46 $78,287.32
57 $78,287.32 $1,192.24 $0.00 $442.65 $79,922.21
58 $79,922.21 $1,192.24 $0.00 $451.89 $81,566.34
59 $81,566.34 $1,192.24 $0.00 $461.19 $83,219.77
60 $83,219.77 $1,192.24 $0.00 $470.54 $84,882.55
61 $84,882.55 $1,192.24 $0.00 $479.94 $86,554.73
62 $86,554.73 $1,192.24 $0.00 $489.39 $88,236.36
63 $88,236.36 $1,192.24 $0.00 $498.90 $89,927.50
64 $89,927.50 $1,192.24 $0.00 $508.46 $91,628.20
65 $91,628.20 $1,192.24 $0.00 $518.08 $93,338.52
66 $93,338.52 $1,192.24 $0.00 $527.75 $95,058.51
67 $95,058.51 $1,192.24 $0.00 $537.47 $96,788.22
68 $96,788.22 $1,192.24 $0.00 $547.25 $98,527.71
69 $98,527.71 $1,192.24 $0.00 $557.09 $100,277.04
70 $100,277.04 $1,192.24 $0.00 $566.98 $102,036.26
71 $102,036.26 $1,192.24 $0.00 $576.93 $103,805.43
72 $103,805.43 $1,192.24 $0.00 $586.93 $105,584.60
73 $105,584.60 $1,192.24 $0.00 $596.99 $107,373.83
74 $107,373.83 $1,192.24 $0.00 $607.11 $109,173.18
75 $109,173.18 $1,192.24 $0.00 $617.28 $110,982.70
76 $110,982.70 $1,192.24 $0.00 $627.51 $112,802.45
77 $112,802.45 $1,192.24 $0.00 $637.80 $114,632.49
78 $114,632.49 $1,192.24 $0.00 $648.15 $116,472.88
79 $116,472.88 $1,192.24 $0.00 $658.55 $118,323.67
80 $118,323.67 $1,192.24 $0.00 $669.02 $120,184.93
81 $120,184.93 $1,192.24 $0.00 $679.54 $122,056.71
82 $122,056.71 $1,192.24 $0.00 $690.13 $123,939.08
83 $123,939.08 $1,192.24 $0.00 $700.77 $125,832.09
84 $125,832.09 $1,192.24 $0.00 $711.47 $127,735.80
85 $127,735.80 $1,192.24 $0.00 $722.24 $129,650.28
86 $129,650.28 $1,192.24 $0.00 $733.06 $131,575.58
87 $131,575.58 $1,192.24 $0.00 $743.95 $133,511.77
88 $133,511.77 $1,192.24 $0.00 $754.89 $135,458.90
89 $135,458.90 $1,192.24 $0.00 $765.90 $137,417.04
90 $137,417.04 $1,192.24 $0.00 $776.98 $139,386.26
91 $139,386.26 $1,192.24 $0.00 $788.11 $141,366.61
92 $141,366.61 $1,192.24 $0.00 $799.31 $143,358.16
93 $143,358.16 $1,192.24 $0.00 $810.57 $145,360.97
94 $145,360.97 $1,192.24 $0.00 $821.89 $147,375.10
95 $147,375.10 $1,192.24 $0.00 $833.28 $149,400.62
96 $149,400.62 $1,192.24 $0.00 $844.73 $151,437.59
97 $151,437.59 $1,192.24 $0.00 $856.25 $153,486.08
98 $153,486.08 $1,192.24 $0.00 $867.83 $155,546.15
99 $155,546.15 $1,192.24 $0.00 $879.48 $157,617.87
100 $157,617.87 $1,192.24 $0.00 $891.19 $159,701.30
101 $159,701.30 $1,192.24 $0.00 $902.97 $161,796.51
102 $161,796.51 $1,192.24 $0.00 $914.82 $163,903.57
103 $163,903.57 $1,192.24 $0.00 $926.73 $166,022.54
104 $166,022.54 $1,192.24 $0.00 $938.72 $168,153.50
105 $168,153.50 $1,192.24 $0.00 $950.76 $170,296.50
106 $170,296.50 $1,192.24 $0.00 $962.88 $172,451.62
107 $172,451.62 $1,192.24 $0.00 $975.07 $174,618.93
108 $174,618.93 $1,192.24 $0.00 $987.32 $176,798.49
109 $176,798.49 $1,192.24 $0.00 $999.64 $178,990.37
110 $178,990.37 $1,192.24 $0.00 $1,012.04 $181,194.65
111 $181,194.65 $1,192.24 $0.00 $1,024.50 $183,411.39
112 $183,411.39 $1,192.24 $0.00 $1,037.03 $185,640.66
113 $185,640.66 $1,192.24 $0.00 $1,049.64 $187,882.54
114 $187,882.54 $1,192.24 $0.00 $1,062.32 $190,137.10
115 $190,137.10 $1,192.24 $0.00 $1,075.06 $192,404.40
116 $192,404.40 $1,192.24 $0.00 $1,087.88 $194,684.52
117 $194,684.52 $1,192.24 $0.00 $1,100.77 $196,977.53
118 $196,977.53 $1,192.24 $0.00 $1,113.74 $199,283.51
119 $199,283.51 $1,192.24 $0.00 $1,126.78 $201,602.53
120 $201,602.53 $1,192.24 $0.00 $1,139.89 $203,934.66
121 $203,934.66 $1,192.24 $0.00 $1,153.08 $206,279.98
122 $206,279.98 $1,192.24 $0.00 $1,166.34 $208,638.56
123 $208,638.56 $1,192.24 $0.00 $1,179.67 $211,010.47
124 $211,010.47 $1,192.24 $0.00 $1,193.08 $213,395.79
125 $213,395.79 $1,192.24 $0.00 $1,206.57 $215,794.60
126 $215,794.60 $1,192.24 $0.00 $1,220.13 $218,206.97
127 $218,206.97 $1,192.24 $0.00 $1,233.77 $220,632.98
128 $220,632.98 $1,192.24 $0.00 $1,247.49 $223,072.71
129 $223,072.71 $1,192.24 $0.00 $1,261.29 $225,526.24
130 $225,526.24 $1,192.24 $0.00 $1,275.16 $227,993.64
131 $227,993.64 $1,192.24 $0.00 $1,289.11 $230,474.99
132 $230,474.99 $1,192.24 $0.00 $1,303.14 $232,970.37
133 $232,970.37 $1,192.24 $0.00 $1,317.25 $235,479.86
134 $235,479.86 $1,192.24 $0.00 $1,331.44 $238,003.54
135 $238,003.54 $1,192.24 $0.00 $1,345.71 $240,541.49
136 $240,541.49 $1,192.24 $0.00 $1,360.06 $243,093.79
137 $243,093.79 $1,192.24 $0.00 $1,374.49 $245,660.52
138 $245,660.52 $1,192.24 $0.00 $1,389.00 $248,241.76
139 $248,241.76 $1,192.24 $0.00 $1,403.60 $250,837.60
140 $250,837.60 $1,192.24 $0.00 $1,418.27 $253,448.11
141 $253,448.11 $1,192.24 $0.00 $1,433.03 $256,073.38
142 $256,073.38 $1,192.24 $0.00 $1,447.88 $258,713.50
143 $258,713.50 $1,192.24 $0.00 $1,462.80 $261,368.54
144 $261,368.54 $1,192.24 $0.00 $1,477.82 $264,038.60
145 $264,038.60 $1,192.24 $0.00 $1,492.91 $266,723.75
146 $266,723.75 $1,192.24 $0.00 $1,508.09 $269,424.08
147 $269,424.08 $1,192.24 $0.00 $1,523.36 $272,139.68
148 $272,139.68 $1,192.24 $0.00 $1,538.72 $274,870.64
149 $274,870.64 $1,192.24 $0.00 $1,554.16 $277,617.04
150 $277,617.04 $1,192.24 $0.00 $1,569.69 $280,378.97
151 $280,378.97 $1,192.24 $0.00 $1,585.30 $283,156.51
152 $283,156.51 $1,192.24 $0.00 $1,601.01 $285,949.76
153 $285,949.76 $1,192.24 $0.00 $1,616.80 $288,758.80
154 $288,758.80 $1,192.24 $0.00 $1,632.68 $291,583.72
155 $291,583.72 $1,192.24 $0.00 $1,648.66 $294,424.62
156 $294,424.62 $1,192.24 $0.00 $1,664.72 $297,281.58
157 $297,281.58 $1,192.24 $0.00 $1,680.87 $300,154.69
158 $300,154.69 $1,192.24 $0.00 $1,697.12 $303,044.05
159 $303,044.05 $1,192.24 $0.00 $1,713.46 $305,949.75
160 $305,949.75 $1,192.24 $0.00 $1,729.88 $308,871.87
161 $308,871.87 $1,192.24 $0.00 $1,746.41 $311,810.52
162 $311,810.52 $1,192.24 $0.00 $1,763.02 $314,765.78
163 $314,765.78 $1,192.24 $0.00 $1,779.73 $317,737.75
164 $317,737.75 $1,192.24 $0.00 $1,796.54 $320,726.53
165 $320,726.53 $1,192.24 $0.00 $1,813.43 $323,732.20
166 $323,732.20 $1,192.24 $0.00 $1,830.43 $326,754.87
167 $326,754.87 $1,192.24 $0.00 $1,847.52 $329,794.63
168 $329,794.63 $1,192.24 $0.00 $1,864.71 $332,851.58
169 $332,851.58 $1,192.24 $0.00 $1,881.99 $335,925.81
170 $335,925.81 $1,192.24 $0.00 $1,899.37 $339,017.42
171 $339,017.42 $1,192.24 $0.00 $1,916.85 $342,126.51
172 $342,126.51 $1,192.24 $0.00 $1,934.43 $345,253.18
173 $345,253.18 $1,192.24 $0.00 $1,952.11 $348,397.53
174 $348,397.53 $1,192.24 $0.00 $1,969.89 $351,559.66
175 $351,559.66 $1,192.24 $0.00 $1,987.77 $354,739.67
176 $354,739.67 $1,192.24 $0.00 $2,005.75 $357,937.66
177 $357,937.66 $1,192.24 $0.00 $2,023.83 $361,153.73
178 $361,153.73 $1,192.24 $0.00 $2,042.02 $364,387.99
179 $364,387.99 $1,192.24 $0.00 $2,060.30 $367,640.53
180 $367,640.53 $1,192.24 $0.00 $2,078.69 $370,911.46
181 $370,911.46 $1,192.24 $0.00 $2,097.19 $374,200.89
182 $374,200.89 $1,192.24 $0.00 $2,115.79 $377,508.92
183 $377,508.92 $1,192.24 $0.00 $2,134.49 $380,835.65
184 $380,835.65 $1,192.24 $0.00 $2,153.30 $384,181.19
185 $384,181.19 $1,192.24 $0.00 $2,172.22 $387,545.65
186 $387,545.65 $1,192.24 $0.00 $2,191.24 $390,929.13
187 $390,929.13 $1,192.24 $0.00 $2,210.37 $394,331.74
188 $394,331.74 $1,192.24 $0.00 $2,229.61 $397,753.59
189 $397,753.59 $1,192.24 $0.00 $2,248.96 $401,194.79
190 $401,194.79 $1,192.24 $0.00 $2,268.41 $404,655.44
191 $404,655.44 $1,192.24 $0.00 $2,287.98 $408,135.66
192 $408,135.66 $1,192.24 $0.00 $2,307.66 $411,635.56
193 $411,635.56 $1,192.24 $0.00 $2,327.45 $415,155.25
194 $415,155.25 $1,192.24 $0.00 $2,347.35 $418,694.84
195 $418,694.84 $1,192.24 $0.00 $2,367.36 $422,254.44
196 $422,254.44 $1,192.24 $0.00 $2,387.49 $425,834.17
197 $425,834.17 $1,192.24 $0.00 $2,407.73 $429,434.14
198 $429,434.14 $1,192.24 $0.00 $2,428.08 $433,054.46
199 $433,054.46 $1,192.24 $0.00 $2,448.55 $436,695.25
200 $436,695.25 $1,192.24 $0.00 $2,469.14 $440,356.63
201 $440,356.63 $1,192.24 $0.00 $2,489.84 $444,038.71
202 $444,038.71 $1,192.24 $0.00 $2,510.66 $447,741.61
203 $447,741.61 $1,192.24 $0.00 $2,531.60 $451,465.45
204 $451,465.45 $1,192.24 $0.00 $2,552.65 $455,210.34
205 $455,210.34 $1,192.24 $0.00 $2,573.83 $458,976.41
206 $458,976.41 $1,192.24 $0.00 $2,595.12 $462,763.77
207 $462,763.77 $1,192.24 $0.00 $2,616.53 $466,572.54
208 $466,572.54 $1,192.24 $0.00 $2,638.07 $470,402.85
209 $470,402.85 $1,192.24 $0.00 $2,659.73 $474,254.82
210 $474,254.82 $1,192.24 $0.00 $2,681.51 $478,128.57
211 $478,128.57 $1,192.24 $0.00 $2,703.41 $482,024.22
212 $482,024.22 $1,192.24 $0.00 $2,725.44 $485,941.90
213 $485,941.90 $1,192.24 $0.00 $2,747.59 $489,881.73
214 $489,881.73 $1,192.24 $0.00 $2,769.86 $493,843.83
215 $493,843.83 $1,192.24 $0.00 $2,792.26 $497,828.33
216 $497,828.33 $1,192.24 $0.00 $2,814.79 $501,835.36
217 $501,835.36 $1,192.24 $139,776.45 $2,837.45 $366,088.60
218 $366,088.60 $1,192.24 $0.00 $2,069.92 $369,350.76
219 $369,350.76 $1,192.24 $0.00 $2,088.36 $372,631.36
220 $372,631.36 $1,192.24 $0.00 $2,106.91 $375,930.51
221 $375,930.51 $1,192.24 $0.00 $2,125.57 $379,248.32
222 $379,248.32 $1,192.24 $0.00 $2,144.33 $382,584.89
223 $382,584.89 $1,192.24 $0.00 $2,163.19 $385,940.32
224 $385,940.32 $1,192.24 $0.00 $2,182.16 $389,314.72
225 $389,314.72 $1,192.24 $0.00 $2,201.24 $392,708.20
226 $392,708.20 $1,192.24 $0.00 $2,220.43 $396,120.87
227 $396,120.87 $1,192.24 $0.00 $2,239.72 $399,552.83
228 $399,552.83 $1,192.24 $0.00 $2,259.13 $403,004.20
229 $403,004.20 $1,192.24 $146,765.27 $2,278.64 $259,709.81
230 $259,709.81 $1,192.24 $0.00 $1,468.44 $262,370.49
231 $262,370.49 $1,192.24 $0.00 $1,483.48 $265,046.21
232 $265,046.21 $1,192.24 $0.00 $1,498.61 $267,737.06
233 $267,737.06 $1,192.24 $0.00 $1,513.82 $270,443.12
234 $270,443.12 $1,192.24 $0.00 $1,529.12 $273,164.48
235 $273,164.48 $1,192.24 $0.00 $1,544.51 $275,901.23
236 $275,901.23 $1,192.24 $0.00 $1,559.99 $278,653.46
237 $278,653.46 $1,192.24 $0.00 $1,575.55 $281,421.25
238 $281,421.25 $1,192.24 $0.00 $1,591.20 $284,204.69
239 $284,204.69 $1,192.24 $0.00 $1,606.93 $287,003.86
240 $287,003.86 $1,192.24 $0.00 $1,622.76 $289,818.86
241 $289,818.86 $1,192.24 $154,103.53 $1,638.68 $138,546.25
242 $138,546.25 $1,192.24 $0.00 $783.36 $140,521.85
243 $140,521.85 $1,192.24 $0.00 $794.53 $142,508.62
244 $142,508.62 $1,192.24 $0.00 $805.76 $144,506.62
245 $144,506.62 $1,192.24 $0.00 $817.06 $146,515.92
246 $146,515.92 $1,192.24 $0.00 $828.42 $148,536.58
247 $148,536.58 $1,192.24 $0.00 $839.85 $150,568.67
248 $150,568.67 $1,192.24 $0.00 $851.34 $152,612.25
249 $152,612.25 $1,192.24 $0.00 $862.89 $154,667.38
250 $154,667.38 $1,192.24 $0.00 $874.51 $156,734.13
251 $156,734.13 $1,192.24 $0.00 $886.20 $158,812.57
252 $158,812.57 $1,192.24 $0.00 $897.95 $160,902.76
253 $160,902.76 $0.00 $161,808.71 $909.77 $3.82