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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$184,961
Monthly savings required$1,464

How much will it cost to send your child to Carleton College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $739,842.08 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,464.13 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$71,325.00
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 $1,464.13 $0.00 $0.00 $1,464.13
2 $1,464.13 $1,464.13 $0.00 $8.28 $2,936.54
3 $2,936.54 $1,464.13 $0.00 $16.60 $4,417.27
4 $4,417.27 $1,464.13 $0.00 $24.98 $5,906.38
5 $5,906.38 $1,464.13 $0.00 $33.40 $7,403.91
6 $7,403.91 $1,464.13 $0.00 $41.86 $8,909.90
7 $8,909.90 $1,464.13 $0.00 $50.38 $10,424.41
8 $10,424.41 $1,464.13 $0.00 $58.94 $11,947.48
9 $11,947.48 $1,464.13 $0.00 $67.55 $13,479.16
10 $13,479.16 $1,464.13 $0.00 $76.21 $15,019.50
11 $15,019.50 $1,464.13 $0.00 $84.92 $16,568.55
12 $16,568.55 $1,464.13 $0.00 $93.68 $18,126.36
13 $18,126.36 $1,464.13 $0.00 $102.49 $19,692.98
14 $19,692.98 $1,464.13 $0.00 $111.35 $21,268.46
15 $21,268.46 $1,464.13 $0.00 $120.25 $22,852.84
16 $22,852.84 $1,464.13 $0.00 $129.21 $24,446.18
17 $24,446.18 $1,464.13 $0.00 $138.22 $26,048.53
18 $26,048.53 $1,464.13 $0.00 $147.28 $27,659.94
19 $27,659.94 $1,464.13 $0.00 $156.39 $29,280.46
20 $29,280.46 $1,464.13 $0.00 $165.56 $30,910.15
21 $30,910.15 $1,464.13 $0.00 $174.77 $32,549.05
22 $32,549.05 $1,464.13 $0.00 $184.04 $34,197.22
23 $34,197.22 $1,464.13 $0.00 $193.36 $35,854.71
24 $35,854.71 $1,464.13 $0.00 $202.73 $37,521.57
25 $37,521.57 $1,464.13 $0.00 $212.15 $39,197.85
26 $39,197.85 $1,464.13 $0.00 $221.63 $40,883.61
27 $40,883.61 $1,464.13 $0.00 $231.16 $42,578.90
28 $42,578.90 $1,464.13 $0.00 $240.75 $44,283.78
29 $44,283.78 $1,464.13 $0.00 $250.39 $45,998.30
30 $45,998.30 $1,464.13 $0.00 $260.08 $47,722.51
31 $47,722.51 $1,464.13 $0.00 $269.83 $49,456.47
32 $49,456.47 $1,464.13 $0.00 $279.63 $51,200.23
33 $51,200.23 $1,464.13 $0.00 $289.49 $52,953.85
34 $52,953.85 $1,464.13 $0.00 $299.41 $54,717.39
35 $54,717.39 $1,464.13 $0.00 $309.38 $56,490.90
36 $56,490.90 $1,464.13 $0.00 $319.41 $58,274.44
37 $58,274.44 $1,464.13 $0.00 $329.49 $60,068.06
38 $60,068.06 $1,464.13 $0.00 $339.63 $61,871.82
39 $61,871.82 $1,464.13 $0.00 $349.83 $63,685.78
40 $63,685.78 $1,464.13 $0.00 $360.09 $65,510.00
41 $65,510.00 $1,464.13 $0.00 $370.40 $67,344.53
42 $67,344.53 $1,464.13 $0.00 $380.78 $69,189.44
43 $69,189.44 $1,464.13 $0.00 $391.21 $71,044.78
44 $71,044.78 $1,464.13 $0.00 $401.70 $72,910.61
45 $72,910.61 $1,464.13 $0.00 $412.25 $74,786.99
46 $74,786.99 $1,464.13 $0.00 $422.86 $76,673.98
47 $76,673.98 $1,464.13 $0.00 $433.53 $78,571.64
48 $78,571.64 $1,464.13 $0.00 $444.26 $80,480.03
49 $80,480.03 $1,464.13 $0.00 $455.05 $82,399.21
50 $82,399.21 $1,464.13 $0.00 $465.90 $84,329.24
51 $84,329.24 $1,464.13 $0.00 $476.81 $86,270.18
52 $86,270.18 $1,464.13 $0.00 $487.78 $88,222.09
53 $88,222.09 $1,464.13 $0.00 $498.82 $90,185.04
54 $90,185.04 $1,464.13 $0.00 $509.92 $92,159.09
55 $92,159.09 $1,464.13 $0.00 $521.08 $94,144.30
56 $94,144.30 $1,464.13 $0.00 $532.31 $96,140.74
57 $96,140.74 $1,464.13 $0.00 $543.59 $98,148.46
58 $98,148.46 $1,464.13 $0.00 $554.95 $100,167.54
59 $100,167.54 $1,464.13 $0.00 $566.36 $102,198.03
60 $102,198.03 $1,464.13 $0.00 $577.84 $104,240.00
61 $104,240.00 $1,464.13 $0.00 $589.39 $106,293.52
62 $106,293.52 $1,464.13 $0.00 $601.00 $108,358.65
63 $108,358.65 $1,464.13 $0.00 $612.68 $110,435.46
64 $110,435.46 $1,464.13 $0.00 $624.42 $112,524.01
65 $112,524.01 $1,464.13 $0.00 $636.23 $114,624.37
66 $114,624.37 $1,464.13 $0.00 $648.10 $116,736.60
67 $116,736.60 $1,464.13 $0.00 $660.05 $118,860.78
68 $118,860.78 $1,464.13 $0.00 $672.06 $120,996.97
69 $120,996.97 $1,464.13 $0.00 $684.13 $123,145.23
70 $123,145.23 $1,464.13 $0.00 $696.28 $125,305.64
71 $125,305.64 $1,464.13 $0.00 $708.50 $127,478.27
72 $127,478.27 $1,464.13 $0.00 $720.78 $129,663.18
73 $129,663.18 $1,464.13 $0.00 $733.13 $131,860.44
74 $131,860.44 $1,464.13 $0.00 $745.56 $134,070.13
75 $134,070.13 $1,464.13 $0.00 $758.05 $136,292.31
76 $136,292.31 $1,464.13 $0.00 $770.62 $138,527.06
77 $138,527.06 $1,464.13 $0.00 $783.25 $140,774.44
78 $140,774.44 $1,464.13 $0.00 $795.96 $143,034.53
79 $143,034.53 $1,464.13 $0.00 $808.74 $145,307.40
80 $145,307.40 $1,464.13 $0.00 $821.59 $147,593.12
81 $147,593.12 $1,464.13 $0.00 $834.51 $149,891.76
82 $149,891.76 $1,464.13 $0.00 $847.51 $152,203.40
83 $152,203.40 $1,464.13 $0.00 $860.58 $154,528.11
84 $154,528.11 $1,464.13 $0.00 $873.72 $156,865.96
85 $156,865.96 $1,464.13 $0.00 $886.94 $159,217.03
86 $159,217.03 $1,464.13 $0.00 $900.24 $161,581.40
87 $161,581.40 $1,464.13 $0.00 $913.60 $163,959.13
88 $163,959.13 $1,464.13 $0.00 $927.05 $166,350.31
89 $166,350.31 $1,464.13 $0.00 $940.57 $168,755.01
90 $168,755.01 $1,464.13 $0.00 $954.17 $171,173.31
91 $171,173.31 $1,464.13 $0.00 $967.84 $173,605.28
92 $173,605.28 $1,464.13 $0.00 $981.59 $176,051.00
93 $176,051.00 $1,464.13 $0.00 $995.42 $178,510.55
94 $178,510.55 $1,464.13 $0.00 $1,009.32 $180,984.00
95 $180,984.00 $1,464.13 $0.00 $1,023.31 $183,471.44
96 $183,471.44 $1,464.13 $0.00 $1,037.37 $185,972.94
97 $185,972.94 $1,464.13 $0.00 $1,051.52 $188,488.59
98 $188,488.59 $1,464.13 $0.00 $1,065.74 $191,018.46
99 $191,018.46 $1,464.13 $0.00 $1,080.05 $193,562.64
100 $193,562.64 $1,464.13 $0.00 $1,094.43 $196,121.20
101 $196,121.20 $1,464.13 $0.00 $1,108.90 $198,694.23
102 $198,694.23 $1,464.13 $0.00 $1,123.45 $201,281.81
103 $201,281.81 $1,464.13 $0.00 $1,138.08 $203,884.02
104 $203,884.02 $1,464.13 $0.00 $1,152.79 $206,500.94
105 $206,500.94 $1,464.13 $0.00 $1,167.59 $209,132.66
106 $209,132.66 $1,464.13 $0.00 $1,182.47 $211,779.26
107 $211,779.26 $1,464.13 $0.00 $1,197.43 $214,440.82
108 $214,440.82 $1,464.13 $0.00 $1,212.48 $217,117.43
109 $217,117.43 $1,464.13 $0.00 $1,227.61 $219,809.17
110 $219,809.17 $1,464.13 $0.00 $1,242.83 $222,516.13
111 $222,516.13 $1,464.13 $0.00 $1,258.14 $225,238.40
112 $225,238.40 $1,464.13 $0.00 $1,273.53 $227,976.06
113 $227,976.06 $1,464.13 $0.00 $1,289.01 $230,729.20
114 $230,729.20 $1,464.13 $0.00 $1,304.58 $233,497.91
115 $233,497.91 $1,464.13 $0.00 $1,320.23 $236,282.27
116 $236,282.27 $1,464.13 $0.00 $1,335.97 $239,082.37
117 $239,082.37 $1,464.13 $0.00 $1,351.81 $241,898.31
118 $241,898.31 $1,464.13 $0.00 $1,367.73 $244,730.17
119 $244,730.17 $1,464.13 $0.00 $1,383.74 $247,578.04
120 $247,578.04 $1,464.13 $0.00 $1,399.84 $250,442.01
121 $250,442.01 $1,464.13 $0.00 $1,416.04 $253,322.18
122 $253,322.18 $1,464.13 $0.00 $1,432.32 $256,218.63
123 $256,218.63 $1,464.13 $0.00 $1,448.70 $259,131.46
124 $259,131.46 $1,464.13 $0.00 $1,465.17 $262,060.76
125 $262,060.76 $1,464.13 $0.00 $1,481.73 $265,006.62
126 $265,006.62 $1,464.13 $0.00 $1,498.39 $267,969.14
127 $267,969.14 $1,464.13 $0.00 $1,515.14 $270,948.41
128 $270,948.41 $1,464.13 $0.00 $1,531.98 $273,944.52
129 $273,944.52 $1,464.13 $0.00 $1,548.92 $276,957.57
130 $276,957.57 $1,464.13 $0.00 $1,565.96 $279,987.66
131 $279,987.66 $1,464.13 $0.00 $1,583.09 $283,034.88
132 $283,034.88 $1,464.13 $0.00 $1,600.32 $286,099.33
133 $286,099.33 $1,464.13 $0.00 $1,617.65 $289,181.11
134 $289,181.11 $1,464.13 $0.00 $1,635.07 $292,280.31
135 $292,280.31 $1,464.13 $0.00 $1,652.60 $295,397.04
136 $295,397.04 $1,464.13 $0.00 $1,670.22 $298,531.39
137 $298,531.39 $1,464.13 $0.00 $1,687.94 $301,683.46
138 $301,683.46 $1,464.13 $0.00 $1,705.76 $304,853.35
139 $304,853.35 $1,464.13 $0.00 $1,723.69 $308,041.17
140 $308,041.17 $1,464.13 $0.00 $1,741.71 $311,247.01
141 $311,247.01 $1,464.13 $0.00 $1,759.84 $314,470.98
142 $314,470.98 $1,464.13 $0.00 $1,778.06 $317,713.17
143 $317,713.17 $1,464.13 $0.00 $1,796.40 $320,973.70
144 $320,973.70 $1,464.13 $0.00 $1,814.83 $324,252.66
145 $324,252.66 $1,464.13 $0.00 $1,833.37 $327,550.16
146 $327,550.16 $1,464.13 $0.00 $1,852.02 $330,866.31
147 $330,866.31 $1,464.13 $0.00 $1,870.77 $334,201.21
148 $334,201.21 $1,464.13 $0.00 $1,889.62 $337,554.96
149 $337,554.96 $1,464.13 $0.00 $1,908.58 $340,927.67
150 $340,927.67 $1,464.13 $0.00 $1,927.65 $344,319.45
151 $344,319.45 $1,464.13 $0.00 $1,946.83 $347,730.41
152 $347,730.41 $1,464.13 $0.00 $1,966.12 $351,160.66
153 $351,160.66 $1,464.13 $0.00 $1,985.51 $354,610.30
154 $354,610.30 $1,464.13 $0.00 $2,005.02 $358,079.45
155 $358,079.45 $1,464.13 $0.00 $2,024.63 $361,568.21
156 $361,568.21 $1,464.13 $0.00 $2,044.36 $365,076.70
157 $365,076.70 $1,464.13 $0.00 $2,064.20 $368,605.03
158 $368,605.03 $1,464.13 $0.00 $2,084.15 $372,153.31
159 $372,153.31 $1,464.13 $0.00 $2,104.21 $375,721.65
160 $375,721.65 $1,464.13 $0.00 $2,124.38 $379,310.16
161 $379,310.16 $1,464.13 $0.00 $2,144.67 $382,918.96
162 $382,918.96 $1,464.13 $0.00 $2,165.08 $386,548.17
163 $386,548.17 $1,464.13 $0.00 $2,185.60 $390,197.90
164 $390,197.90 $1,464.13 $0.00 $2,206.24 $393,868.27
165 $393,868.27 $1,464.13 $0.00 $2,226.99 $397,559.39
166 $397,559.39 $1,464.13 $0.00 $2,247.86 $401,271.38
167 $401,271.38 $1,464.13 $0.00 $2,268.85 $405,004.36
168 $405,004.36 $1,464.13 $0.00 $2,289.95 $408,758.44
169 $408,758.44 $1,464.13 $0.00 $2,311.18 $412,533.75
170 $412,533.75 $1,464.13 $0.00 $2,332.53 $416,330.41
171 $416,330.41 $1,464.13 $0.00 $2,353.99 $420,148.53
172 $420,148.53 $1,464.13 $0.00 $2,375.58 $423,988.24
173 $423,988.24 $1,464.13 $0.00 $2,397.29 $427,849.66
174 $427,849.66 $1,464.13 $0.00 $2,419.12 $431,732.91
175 $431,732.91 $1,464.13 $0.00 $2,441.08 $435,638.12
176 $435,638.12 $1,464.13 $0.00 $2,463.16 $439,565.41
177 $439,565.41 $1,464.13 $0.00 $2,485.37 $443,514.91
178 $443,514.91 $1,464.13 $0.00 $2,507.70 $447,486.74
179 $447,486.74 $1,464.13 $0.00 $2,530.16 $451,481.03
180 $451,481.03 $1,464.13 $0.00 $2,552.74 $455,497.90
181 $455,497.90 $1,464.13 $0.00 $2,575.45 $459,537.48
182 $459,537.48 $1,464.13 $0.00 $2,598.29 $463,599.90
183 $463,599.90 $1,464.13 $0.00 $2,621.26 $467,685.29
184 $467,685.29 $1,464.13 $0.00 $2,644.36 $471,793.78
185 $471,793.78 $1,464.13 $0.00 $2,667.59 $475,925.50
186 $475,925.50 $1,464.13 $0.00 $2,690.95 $480,080.58
187 $480,080.58 $1,464.13 $0.00 $2,714.45 $484,259.16
188 $484,259.16 $1,464.13 $0.00 $2,738.07 $488,461.36
189 $488,461.36 $1,464.13 $0.00 $2,761.83 $492,687.32
190 $492,687.32 $1,464.13 $0.00 $2,785.73 $496,937.18
191 $496,937.18 $1,464.13 $0.00 $2,809.76 $501,211.07
192 $501,211.07 $1,464.13 $0.00 $2,833.92 $505,509.12
193 $505,509.12 $1,464.13 $0.00 $2,858.22 $509,831.47
194 $509,831.47 $1,464.13 $0.00 $2,882.66 $514,178.26
195 $514,178.26 $1,464.13 $0.00 $2,907.24 $518,549.63
196 $518,549.63 $1,464.13 $0.00 $2,931.95 $522,945.71
197 $522,945.71 $1,464.13 $0.00 $2,956.81 $527,366.65
198 $527,366.65 $1,464.13 $0.00 $2,981.81 $531,812.59
199 $531,812.59 $1,464.13 $0.00 $3,006.95 $536,283.67
200 $536,283.67 $1,464.13 $0.00 $3,032.23 $540,780.03
201 $540,780.03 $1,464.13 $0.00 $3,057.65 $545,301.81
202 $545,301.81 $1,464.13 $0.00 $3,083.22 $549,849.16
203 $549,849.16 $1,464.13 $0.00 $3,108.93 $554,422.22
204 $554,422.22 $1,464.13 $0.00 $3,134.78 $559,021.13
205 $559,021.13 $1,464.13 $0.00 $3,160.79 $563,646.05
206 $563,646.05 $1,464.13 $0.00 $3,186.94 $568,297.12
207 $568,297.12 $1,464.13 $0.00 $3,213.23 $572,974.48
208 $572,974.48 $1,464.13 $0.00 $3,239.68 $577,678.29
209 $577,678.29 $1,464.13 $0.00 $3,266.28 $582,408.70
210 $582,408.70 $1,464.13 $0.00 $3,293.02 $587,165.85
211 $587,165.85 $1,464.13 $0.00 $3,319.92 $591,949.90
212 $591,949.90 $1,464.13 $0.00 $3,346.97 $596,761.00
213 $596,761.00 $1,464.13 $0.00 $3,374.17 $601,599.30
214 $601,599.30 $1,464.13 $0.00 $3,401.53 $606,464.96
215 $606,464.96 $1,464.13 $0.00 $3,429.04 $611,358.13
216 $611,358.13 $1,464.13 $0.00 $3,456.71 $616,278.97
217 $616,278.97 $1,464.13 $171,652.12 $3,484.53 $449,575.51
218 $449,575.51 $1,464.13 $0.00 $2,541.97 $453,581.61
219 $453,581.61 $1,464.13 $0.00 $2,564.62 $457,610.36
220 $457,610.36 $1,464.13 $0.00 $2,587.40 $461,661.89
221 $461,661.89 $1,464.13 $0.00 $2,610.30 $465,736.32
222 $465,736.32 $1,464.13 $0.00 $2,633.34 $469,833.79
223 $469,833.79 $1,464.13 $0.00 $2,656.51 $473,954.43
224 $473,954.43 $1,464.13 $0.00 $2,679.81 $478,098.37
225 $478,098.37 $1,464.13 $0.00 $2,703.24 $482,265.74
226 $482,265.74 $1,464.13 $0.00 $2,726.80 $486,456.67
227 $486,456.67 $1,464.13 $0.00 $2,750.50 $490,671.30
228 $490,671.30 $1,464.13 $0.00 $2,774.33 $494,909.76
229 $494,909.76 $1,464.13 $180,234.72 $2,798.29 $318,937.46
230 $318,937.46 $1,464.13 $0.00 $1,803.32 $322,204.91
231 $322,204.91 $1,464.13 $0.00 $1,821.79 $325,490.83
232 $325,490.83 $1,464.13 $0.00 $1,840.37 $328,795.33
233 $328,795.33 $1,464.13 $0.00 $1,859.06 $332,118.52
234 $332,118.52 $1,464.13 $0.00 $1,877.85 $335,460.50
235 $335,460.50 $1,464.13 $0.00 $1,896.74 $338,821.37
236 $338,821.37 $1,464.13 $0.00 $1,915.75 $342,201.25
237 $342,201.25 $1,464.13 $0.00 $1,934.86 $345,600.24
238 $345,600.24 $1,464.13 $0.00 $1,954.07 $349,018.44
239 $349,018.44 $1,464.13 $0.00 $1,973.40 $352,455.97
240 $352,455.97 $1,464.13 $0.00 $1,992.84 $355,912.94
241 $355,912.94 $1,464.13 $189,246.46 $2,012.38 $170,142.99
242 $170,142.99 $1,464.13 $0.00 $962.01 $172,569.13
243 $172,569.13 $1,464.13 $0.00 $975.73 $175,008.99
244 $175,008.99 $1,464.13 $0.00 $989.53 $177,462.65
245 $177,462.65 $1,464.13 $0.00 $1,003.40 $179,930.18
246 $179,930.18 $1,464.13 $0.00 $1,017.35 $182,411.66
247 $182,411.66 $1,464.13 $0.00 $1,031.38 $184,907.17
248 $184,907.17 $1,464.13 $0.00 $1,045.49 $187,416.79
249 $187,416.79 $1,464.13 $0.00 $1,059.68 $189,940.60
250 $189,940.60 $1,464.13 $0.00 $1,073.95 $192,478.68
251 $192,478.68 $1,464.13 $0.00 $1,088.30 $195,031.11
252 $195,031.11 $1,464.13 $0.00 $1,102.73 $197,597.97
253 $197,597.97 $0.00 $198,708.78 $1,117.25 $6.44