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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$177,964
Monthly savings required$1,409

How much will it cost to send your child to Macalester College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $711,856.19 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,408.74 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$68,627.00
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 $1,408.74 $0.00 $0.00 $1,408.74
2 $1,408.74 $1,408.74 $0.00 $7.97 $2,825.45
3 $2,825.45 $1,408.74 $0.00 $15.98 $4,250.17
4 $4,250.17 $1,408.74 $0.00 $24.03 $5,682.94
5 $5,682.94 $1,408.74 $0.00 $32.13 $7,123.81
6 $7,123.81 $1,408.74 $0.00 $40.28 $8,572.83
7 $8,572.83 $1,408.74 $0.00 $48.47 $10,030.04
8 $10,030.04 $1,408.74 $0.00 $56.71 $11,495.49
9 $11,495.49 $1,408.74 $0.00 $65.00 $12,969.23
10 $12,969.23 $1,408.74 $0.00 $73.33 $14,451.30
11 $14,451.30 $1,408.74 $0.00 $81.71 $15,941.75
12 $15,941.75 $1,408.74 $0.00 $90.14 $17,440.63
13 $17,440.63 $1,408.74 $0.00 $98.61 $18,947.98
14 $18,947.98 $1,408.74 $0.00 $107.13 $20,463.85
15 $20,463.85 $1,408.74 $0.00 $115.71 $21,988.30
16 $21,988.30 $1,408.74 $0.00 $124.33 $23,521.37
17 $23,521.37 $1,408.74 $0.00 $132.99 $25,063.10
18 $25,063.10 $1,408.74 $0.00 $141.71 $26,613.55
19 $26,613.55 $1,408.74 $0.00 $150.48 $28,172.77
20 $28,172.77 $1,408.74 $0.00 $159.29 $29,740.80
21 $29,740.80 $1,408.74 $0.00 $168.16 $31,317.70
22 $31,317.70 $1,408.74 $0.00 $177.07 $32,903.51
23 $32,903.51 $1,408.74 $0.00 $186.04 $34,498.29
24 $34,498.29 $1,408.74 $0.00 $195.06 $36,102.09
25 $36,102.09 $1,408.74 $0.00 $204.13 $37,714.96
26 $37,714.96 $1,408.74 $0.00 $213.25 $39,336.95
27 $39,336.95 $1,408.74 $0.00 $222.42 $40,968.11
28 $40,968.11 $1,408.74 $0.00 $231.64 $42,608.49
29 $42,608.49 $1,408.74 $0.00 $240.91 $44,258.14
30 $44,258.14 $1,408.74 $0.00 $250.24 $45,917.12
31 $45,917.12 $1,408.74 $0.00 $259.62 $47,585.48
32 $47,585.48 $1,408.74 $0.00 $269.06 $49,263.28
33 $49,263.28 $1,408.74 $0.00 $278.54 $50,950.56
34 $50,950.56 $1,408.74 $0.00 $288.08 $52,647.38
35 $52,647.38 $1,408.74 $0.00 $297.68 $54,353.80
36 $54,353.80 $1,408.74 $0.00 $307.32 $56,069.86
37 $56,069.86 $1,408.74 $0.00 $317.03 $57,795.63
38 $57,795.63 $1,408.74 $0.00 $326.78 $59,531.15
39 $59,531.15 $1,408.74 $0.00 $336.60 $61,276.49
40 $61,276.49 $1,408.74 $0.00 $346.47 $63,031.70
41 $63,031.70 $1,408.74 $0.00 $356.39 $64,796.83
42 $64,796.83 $1,408.74 $0.00 $366.37 $66,571.94
43 $66,571.94 $1,408.74 $0.00 $376.41 $68,357.09
44 $68,357.09 $1,408.74 $0.00 $386.50 $70,152.33
45 $70,152.33 $1,408.74 $0.00 $396.65 $71,957.72
46 $71,957.72 $1,408.74 $0.00 $406.86 $73,773.32
47 $73,773.32 $1,408.74 $0.00 $417.13 $75,599.19
48 $75,599.19 $1,408.74 $0.00 $427.45 $77,435.38
49 $77,435.38 $1,408.74 $0.00 $437.83 $79,281.95
50 $79,281.95 $1,408.74 $0.00 $448.27 $81,138.96
51 $81,138.96 $1,408.74 $0.00 $458.77 $83,006.47
52 $83,006.47 $1,408.74 $0.00 $469.33 $84,884.54
53 $84,884.54 $1,408.74 $0.00 $479.95 $86,773.23
54 $86,773.23 $1,408.74 $0.00 $490.63 $88,672.60
55 $88,672.60 $1,408.74 $0.00 $501.37 $90,582.71
56 $90,582.71 $1,408.74 $0.00 $512.17 $92,503.62
57 $92,503.62 $1,408.74 $0.00 $523.03 $94,435.39
58 $94,435.39 $1,408.74 $0.00 $533.95 $96,378.08
59 $96,378.08 $1,408.74 $0.00 $544.94 $98,331.76
60 $98,331.76 $1,408.74 $0.00 $555.98 $100,296.48
61 $100,296.48 $1,408.74 $0.00 $567.09 $102,272.31
62 $102,272.31 $1,408.74 $0.00 $578.26 $104,259.31
63 $104,259.31 $1,408.74 $0.00 $589.50 $106,257.55
64 $106,257.55 $1,408.74 $0.00 $600.80 $108,267.09
65 $108,267.09 $1,408.74 $0.00 $612.16 $110,287.99
66 $110,287.99 $1,408.74 $0.00 $623.58 $112,320.31
67 $112,320.31 $1,408.74 $0.00 $635.08 $114,364.13
68 $114,364.13 $1,408.74 $0.00 $646.63 $116,419.50
69 $116,419.50 $1,408.74 $0.00 $658.25 $118,486.49
70 $118,486.49 $1,408.74 $0.00 $669.94 $120,565.17
71 $120,565.17 $1,408.74 $0.00 $681.69 $122,655.60
72 $122,655.60 $1,408.74 $0.00 $693.51 $124,757.85
73 $124,757.85 $1,408.74 $0.00 $705.40 $126,871.99
74 $126,871.99 $1,408.74 $0.00 $717.35 $128,998.08
75 $128,998.08 $1,408.74 $0.00 $729.37 $131,136.19
76 $131,136.19 $1,408.74 $0.00 $741.46 $133,286.39
77 $133,286.39 $1,408.74 $0.00 $753.62 $135,448.75
78 $135,448.75 $1,408.74 $0.00 $765.85 $137,623.34
79 $137,623.34 $1,408.74 $0.00 $778.14 $139,810.22
80 $139,810.22 $1,408.74 $0.00 $790.51 $142,009.47
81 $142,009.47 $1,408.74 $0.00 $802.94 $144,221.15
82 $144,221.15 $1,408.74 $0.00 $815.45 $146,445.34
83 $146,445.34 $1,408.74 $0.00 $828.02 $148,682.10
84 $148,682.10 $1,408.74 $0.00 $840.67 $150,931.51
85 $150,931.51 $1,408.74 $0.00 $853.39 $153,193.64
86 $153,193.64 $1,408.74 $0.00 $866.18 $155,468.56
87 $155,468.56 $1,408.74 $0.00 $879.04 $157,756.34
88 $157,756.34 $1,408.74 $0.00 $891.98 $160,057.06
89 $160,057.06 $1,408.74 $0.00 $904.99 $162,370.79
90 $162,370.79 $1,408.74 $0.00 $918.07 $164,697.60
91 $164,697.60 $1,408.74 $0.00 $931.22 $167,037.56
92 $167,037.56 $1,408.74 $0.00 $944.45 $169,390.75
93 $169,390.75 $1,408.74 $0.00 $957.76 $171,757.25
94 $171,757.25 $1,408.74 $0.00 $971.14 $174,137.13
95 $174,137.13 $1,408.74 $0.00 $984.60 $176,530.47
96 $176,530.47 $1,408.74 $0.00 $998.13 $178,937.34
97 $178,937.34 $1,408.74 $0.00 $1,011.74 $181,357.82
98 $181,357.82 $1,408.74 $0.00 $1,025.42 $183,791.98
99 $183,791.98 $1,408.74 $0.00 $1,039.19 $186,239.91
100 $186,239.91 $1,408.74 $0.00 $1,053.03 $188,701.68
101 $188,701.68 $1,408.74 $0.00 $1,066.95 $191,177.37
102 $191,177.37 $1,408.74 $0.00 $1,080.94 $193,667.05
103 $193,667.05 $1,408.74 $0.00 $1,095.02 $196,170.81
104 $196,170.81 $1,408.74 $0.00 $1,109.18 $198,688.73
105 $198,688.73 $1,408.74 $0.00 $1,123.41 $201,220.88
106 $201,220.88 $1,408.74 $0.00 $1,137.73 $203,767.35
107 $203,767.35 $1,408.74 $0.00 $1,152.13 $206,328.22
108 $206,328.22 $1,408.74 $0.00 $1,166.61 $208,903.57
109 $208,903.57 $1,408.74 $0.00 $1,181.17 $211,493.48
110 $211,493.48 $1,408.74 $0.00 $1,195.81 $214,098.03
111 $214,098.03 $1,408.74 $0.00 $1,210.54 $216,717.31
112 $216,717.31 $1,408.74 $0.00 $1,225.35 $219,351.40
113 $219,351.40 $1,408.74 $0.00 $1,240.24 $222,000.38
114 $222,000.38 $1,408.74 $0.00 $1,255.22 $224,664.34
115 $224,664.34 $1,408.74 $0.00 $1,270.28 $227,343.36
116 $227,343.36 $1,408.74 $0.00 $1,285.43 $230,037.53
117 $230,037.53 $1,408.74 $0.00 $1,300.67 $232,746.94
118 $232,746.94 $1,408.74 $0.00 $1,315.99 $235,471.67
119 $235,471.67 $1,408.74 $0.00 $1,331.39 $238,211.80
120 $238,211.80 $1,408.74 $0.00 $1,346.88 $240,967.42
121 $240,967.42 $1,408.74 $0.00 $1,362.46 $243,738.62
122 $243,738.62 $1,408.74 $0.00 $1,378.13 $246,525.49
123 $246,525.49 $1,408.74 $0.00 $1,393.89 $249,328.12
124 $249,328.12 $1,408.74 $0.00 $1,409.74 $252,146.60
125 $252,146.60 $1,408.74 $0.00 $1,425.67 $254,981.01
126 $254,981.01 $1,408.74 $0.00 $1,441.70 $257,831.45
127 $257,831.45 $1,408.74 $0.00 $1,457.82 $260,698.01
128 $260,698.01 $1,408.74 $0.00 $1,474.02 $263,580.77
129 $263,580.77 $1,408.74 $0.00 $1,490.32 $266,479.83
130 $266,479.83 $1,408.74 $0.00 $1,506.72 $269,395.29
131 $269,395.29 $1,408.74 $0.00 $1,523.20 $272,327.23
132 $272,327.23 $1,408.74 $0.00 $1,539.78 $275,275.75
133 $275,275.75 $1,408.74 $0.00 $1,556.45 $278,240.94
134 $278,240.94 $1,408.74 $0.00 $1,573.21 $281,222.89
135 $281,222.89 $1,408.74 $0.00 $1,590.08 $284,221.71
136 $284,221.71 $1,408.74 $0.00 $1,607.03 $287,237.48
137 $287,237.48 $1,408.74 $0.00 $1,624.08 $290,270.30
138 $290,270.30 $1,408.74 $0.00 $1,641.23 $293,320.27
139 $293,320.27 $1,408.74 $0.00 $1,658.48 $296,387.49
140 $296,387.49 $1,408.74 $0.00 $1,675.82 $299,472.05
141 $299,472.05 $1,408.74 $0.00 $1,693.26 $302,574.05
142 $302,574.05 $1,408.74 $0.00 $1,710.80 $305,693.59
143 $305,693.59 $1,408.74 $0.00 $1,728.44 $308,830.77
144 $308,830.77 $1,408.74 $0.00 $1,746.17 $311,985.68
145 $311,985.68 $1,408.74 $0.00 $1,764.01 $315,158.43
146 $315,158.43 $1,408.74 $0.00 $1,781.95 $318,349.12
147 $318,349.12 $1,408.74 $0.00 $1,799.99 $321,557.85
148 $321,557.85 $1,408.74 $0.00 $1,818.13 $324,784.72
149 $324,784.72 $1,408.74 $0.00 $1,836.38 $328,029.84
150 $328,029.84 $1,408.74 $0.00 $1,854.73 $331,293.31
151 $331,293.31 $1,408.74 $0.00 $1,873.18 $334,575.23
152 $334,575.23 $1,408.74 $0.00 $1,891.74 $337,875.71
153 $337,875.71 $1,408.74 $0.00 $1,910.40 $341,194.85
154 $341,194.85 $1,408.74 $0.00 $1,929.17 $344,532.76
155 $344,532.76 $1,408.74 $0.00 $1,948.04 $347,889.54
156 $347,889.54 $1,408.74 $0.00 $1,967.02 $351,265.30
157 $351,265.30 $1,408.74 $0.00 $1,986.11 $354,660.15
158 $354,660.15 $1,408.74 $0.00 $2,005.30 $358,074.19
159 $358,074.19 $1,408.74 $0.00 $2,024.60 $361,507.53
160 $361,507.53 $1,408.74 $0.00 $2,044.02 $364,960.29
161 $364,960.29 $1,408.74 $0.00 $2,063.54 $368,432.57
162 $368,432.57 $1,408.74 $0.00 $2,083.17 $371,924.48
163 $371,924.48 $1,408.74 $0.00 $2,102.92 $375,436.14
164 $375,436.14 $1,408.74 $0.00 $2,122.77 $378,967.65
165 $378,967.65 $1,408.74 $0.00 $2,142.74 $382,519.13
166 $382,519.13 $1,408.74 $0.00 $2,162.82 $386,090.69
167 $386,090.69 $1,408.74 $0.00 $2,183.01 $389,682.44
168 $389,682.44 $1,408.74 $0.00 $2,203.32 $393,294.50
169 $393,294.50 $1,408.74 $0.00 $2,223.74 $396,926.98
170 $396,926.98 $1,408.74 $0.00 $2,244.28 $400,580.00
171 $400,580.00 $1,408.74 $0.00 $2,264.94 $404,253.68
172 $404,253.68 $1,408.74 $0.00 $2,285.71 $407,948.13
173 $407,948.13 $1,408.74 $0.00 $2,306.60 $411,663.47
174 $411,663.47 $1,408.74 $0.00 $2,327.61 $415,399.82
175 $415,399.82 $1,408.74 $0.00 $2,348.73 $419,157.29
176 $419,157.29 $1,408.74 $0.00 $2,369.98 $422,936.01
177 $422,936.01 $1,408.74 $0.00 $2,391.34 $426,736.09
178 $426,736.09 $1,408.74 $0.00 $2,412.83 $430,557.66
179 $430,557.66 $1,408.74 $0.00 $2,434.44 $434,400.84
180 $434,400.84 $1,408.74 $0.00 $2,456.17 $438,265.75
181 $438,265.75 $1,408.74 $0.00 $2,478.02 $442,152.51
182 $442,152.51 $1,408.74 $0.00 $2,499.99 $446,061.24
183 $446,061.24 $1,408.74 $0.00 $2,522.10 $449,992.08
184 $449,992.08 $1,408.74 $0.00 $2,544.32 $453,945.14
185 $453,945.14 $1,408.74 $0.00 $2,566.67 $457,920.55
186 $457,920.55 $1,408.74 $0.00 $2,589.15 $461,918.44
187 $461,918.44 $1,408.74 $0.00 $2,611.75 $465,938.93
188 $465,938.93 $1,408.74 $0.00 $2,634.49 $469,982.16
189 $469,982.16 $1,408.74 $0.00 $2,657.35 $474,048.25
190 $474,048.25 $1,408.74 $0.00 $2,680.34 $478,137.33
191 $478,137.33 $1,408.74 $0.00 $2,703.46 $482,249.53
192 $482,249.53 $1,408.74 $0.00 $2,726.71 $486,384.98
193 $486,384.98 $1,408.74 $0.00 $2,750.09 $490,543.81
194 $490,543.81 $1,408.74 $0.00 $2,773.61 $494,726.16
195 $494,726.16 $1,408.74 $0.00 $2,797.25 $498,932.15
196 $498,932.15 $1,408.74 $0.00 $2,821.03 $503,161.92
197 $503,161.92 $1,408.74 $0.00 $2,844.95 $507,415.61
198 $507,415.61 $1,408.74 $0.00 $2,869.00 $511,693.35
199 $511,693.35 $1,408.74 $0.00 $2,893.19 $515,995.28
200 $515,995.28 $1,408.74 $0.00 $2,917.51 $520,321.53
201 $520,321.53 $1,408.74 $0.00 $2,941.97 $524,672.24
202 $524,672.24 $1,408.74 $0.00 $2,966.57 $529,047.55
203 $529,047.55 $1,408.74 $0.00 $2,991.31 $533,447.60
204 $533,447.60 $1,408.74 $0.00 $3,016.19 $537,872.53
205 $537,872.53 $1,408.74 $0.00 $3,041.21 $542,322.48
206 $542,322.48 $1,408.74 $0.00 $3,066.37 $546,797.59
207 $546,797.59 $1,408.74 $0.00 $3,091.67 $551,298.00
208 $551,298.00 $1,408.74 $0.00 $3,117.12 $555,823.86
209 $555,823.86 $1,408.74 $0.00 $3,142.71 $560,375.31
210 $560,375.31 $1,408.74 $0.00 $3,168.44 $564,952.49
211 $564,952.49 $1,408.74 $0.00 $3,194.32 $569,555.55
212 $569,555.55 $1,408.74 $0.00 $3,220.35 $574,184.64
213 $574,184.64 $1,408.74 $0.00 $3,246.52 $578,839.90
214 $578,839.90 $1,408.74 $0.00 $3,272.84 $583,521.48
215 $583,521.48 $1,408.74 $0.00 $3,299.32 $588,229.54
216 $588,229.54 $1,408.74 $0.00 $3,325.94 $592,964.22
217 $592,964.22 $1,408.74 $165,159.06 $3,352.71 $432,566.61
218 $432,566.61 $1,408.74 $0.00 $2,445.79 $436,421.14
219 $436,421.14 $1,408.74 $0.00 $2,467.59 $440,297.47
220 $440,297.47 $1,408.74 $0.00 $2,489.51 $444,195.72
221 $444,195.72 $1,408.74 $0.00 $2,511.55 $448,116.01
222 $448,116.01 $1,408.74 $0.00 $2,533.71 $452,058.46
223 $452,058.46 $1,408.74 $0.00 $2,556.00 $456,023.20
224 $456,023.20 $1,408.74 $0.00 $2,578.42 $460,010.36
225 $460,010.36 $1,408.74 $0.00 $2,600.97 $464,020.07
226 $464,020.07 $1,408.74 $0.00 $2,623.64 $468,052.45
227 $468,052.45 $1,408.74 $0.00 $2,646.44 $472,107.63
228 $472,107.63 $1,408.74 $0.00 $2,669.37 $476,185.74
229 $476,185.74 $1,408.74 $173,417.01 $2,692.42 $306,869.89
230 $306,869.89 $1,408.74 $0.00 $1,735.09 $310,013.72
231 $310,013.72 $1,408.74 $0.00 $1,752.86 $313,175.32
232 $313,175.32 $1,408.74 $0.00 $1,770.74 $316,354.80
233 $316,354.80 $1,408.74 $0.00 $1,788.72 $319,552.26
234 $319,552.26 $1,408.74 $0.00 $1,806.79 $322,767.79
235 $322,767.79 $1,408.74 $0.00 $1,824.98 $326,001.51
236 $326,001.51 $1,408.74 $0.00 $1,843.26 $329,253.51
237 $329,253.51 $1,408.74 $0.00 $1,861.65 $332,523.90
238 $332,523.90 $1,408.74 $0.00 $1,880.14 $335,812.78
239 $335,812.78 $1,408.74 $0.00 $1,898.73 $339,120.25
240 $339,120.25 $1,408.74 $0.00 $1,917.44 $342,446.43
241 $342,446.43 $1,408.74 $182,087.86 $1,936.24 $163,703.55
242 $163,703.55 $1,408.74 $0.00 $925.60 $166,037.89
243 $166,037.89 $1,408.74 $0.00 $938.80 $168,385.43
244 $168,385.43 $1,408.74 $0.00 $952.08 $170,746.25
245 $170,746.25 $1,408.74 $0.00 $965.42 $173,120.41
246 $173,120.41 $1,408.74 $0.00 $978.85 $175,508.00
247 $175,508.00 $1,408.74 $0.00 $992.35 $177,909.09
248 $177,909.09 $1,408.74 $0.00 $1,005.92 $180,323.75
249 $180,323.75 $1,408.74 $0.00 $1,019.58 $182,752.07
250 $182,752.07 $1,408.74 $0.00 $1,033.31 $185,194.12
251 $185,194.12 $1,408.74 $0.00 $1,047.11 $187,649.97
252 $187,649.97 $1,408.74 $0.00 $1,061.00 $190,119.71
253 $190,119.71 $0.00 $191,192.25 $1,074.96 $2.42