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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$115,859
Monthly savings required$917

How much will it cost to send your child to Hastings College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $463,437.29 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $917.12 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$44,678.00
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 $917.12 $0.00 $0.00 $917.12
2 $917.12 $917.12 $0.00 $5.19 $1,839.43
3 $1,839.43 $917.12 $0.00 $10.40 $2,766.95
4 $2,766.95 $917.12 $0.00 $15.64 $3,699.71
5 $3,699.71 $917.12 $0.00 $20.92 $4,637.75
6 $4,637.75 $917.12 $0.00 $26.22 $5,581.09
7 $5,581.09 $917.12 $0.00 $31.56 $6,529.77
8 $6,529.77 $917.12 $0.00 $36.92 $7,483.81
9 $7,483.81 $917.12 $0.00 $42.31 $8,443.24
10 $8,443.24 $917.12 $0.00 $47.74 $9,408.10
11 $9,408.10 $917.12 $0.00 $53.19 $10,378.41
12 $10,378.41 $917.12 $0.00 $58.68 $11,354.21
13 $11,354.21 $917.12 $0.00 $64.20 $12,335.53
14 $12,335.53 $917.12 $0.00 $69.75 $13,322.40
15 $13,322.40 $917.12 $0.00 $75.33 $14,314.85
16 $14,314.85 $917.12 $0.00 $80.94 $15,312.91
17 $15,312.91 $917.12 $0.00 $86.58 $16,316.61
18 $16,316.61 $917.12 $0.00 $92.26 $17,325.99
19 $17,325.99 $917.12 $0.00 $97.96 $18,341.07
20 $18,341.07 $917.12 $0.00 $103.70 $19,361.89
21 $19,361.89 $917.12 $0.00 $109.47 $20,388.48
22 $20,388.48 $917.12 $0.00 $115.28 $21,420.88
23 $21,420.88 $917.12 $0.00 $121.12 $22,459.12
24 $22,459.12 $917.12 $0.00 $126.99 $23,503.23
25 $23,503.23 $917.12 $0.00 $132.89 $24,553.24
26 $24,553.24 $917.12 $0.00 $138.83 $25,609.19
27 $25,609.19 $917.12 $0.00 $144.80 $26,671.11
28 $26,671.11 $917.12 $0.00 $150.80 $27,739.03
29 $27,739.03 $917.12 $0.00 $156.84 $28,812.99
30 $28,812.99 $917.12 $0.00 $162.91 $29,893.02
31 $29,893.02 $917.12 $0.00 $169.02 $30,979.16
32 $30,979.16 $917.12 $0.00 $175.16 $32,071.44
33 $32,071.44 $917.12 $0.00 $181.34 $33,169.90
34 $33,169.90 $917.12 $0.00 $187.55 $34,274.57
35 $34,274.57 $917.12 $0.00 $193.79 $35,385.48
36 $35,385.48 $917.12 $0.00 $200.07 $36,502.67
37 $36,502.67 $917.12 $0.00 $206.39 $37,626.18
38 $37,626.18 $917.12 $0.00 $212.74 $38,756.04
39 $38,756.04 $917.12 $0.00 $219.13 $39,892.29
40 $39,892.29 $917.12 $0.00 $225.56 $41,034.97
41 $41,034.97 $917.12 $0.00 $232.02 $42,184.11
42 $42,184.11 $917.12 $0.00 $238.52 $43,339.75
43 $43,339.75 $917.12 $0.00 $245.05 $44,501.92
44 $44,501.92 $917.12 $0.00 $251.62 $45,670.66
45 $45,670.66 $917.12 $0.00 $258.23 $46,846.01
46 $46,846.01 $917.12 $0.00 $264.87 $48,028.00
47 $48,028.00 $917.12 $0.00 $271.56 $49,216.68
48 $49,216.68 $917.12 $0.00 $278.28 $50,412.08
49 $50,412.08 $917.12 $0.00 $285.04 $51,614.24
50 $51,614.24 $917.12 $0.00 $291.83 $52,823.19
51 $52,823.19 $917.12 $0.00 $298.67 $54,038.98
52 $54,038.98 $917.12 $0.00 $305.54 $55,261.64
53 $55,261.64 $917.12 $0.00 $312.46 $56,491.22
54 $56,491.22 $917.12 $0.00 $319.41 $57,727.75
55 $57,727.75 $917.12 $0.00 $326.40 $58,971.27
56 $58,971.27 $917.12 $0.00 $333.43 $60,221.82
57 $60,221.82 $917.12 $0.00 $340.50 $61,479.44
58 $61,479.44 $917.12 $0.00 $347.61 $62,744.17
59 $62,744.17 $917.12 $0.00 $354.76 $64,016.05
60 $64,016.05 $917.12 $0.00 $361.96 $65,295.13
61 $65,295.13 $917.12 $0.00 $369.19 $66,581.44
62 $66,581.44 $917.12 $0.00 $376.46 $67,875.02
63 $67,875.02 $917.12 $0.00 $383.78 $69,175.92
64 $69,175.92 $917.12 $0.00 $391.13 $70,484.17
65 $70,484.17 $917.12 $0.00 $398.53 $71,799.82
66 $71,799.82 $917.12 $0.00 $405.97 $73,122.91
67 $73,122.91 $917.12 $0.00 $413.45 $74,453.48
68 $74,453.48 $917.12 $0.00 $420.97 $75,791.57
69 $75,791.57 $917.12 $0.00 $428.54 $77,137.23
70 $77,137.23 $917.12 $0.00 $436.15 $78,490.50
71 $78,490.50 $917.12 $0.00 $443.80 $79,851.42
72 $79,851.42 $917.12 $0.00 $451.49 $81,220.03
73 $81,220.03 $917.12 $0.00 $459.23 $82,596.38
74 $82,596.38 $917.12 $0.00 $467.01 $83,980.51
75 $83,980.51 $917.12 $0.00 $474.84 $85,372.47
76 $85,372.47 $917.12 $0.00 $482.71 $86,772.30
77 $86,772.30 $917.12 $0.00 $490.62 $88,180.04
78 $88,180.04 $917.12 $0.00 $498.58 $89,595.74
79 $89,595.74 $917.12 $0.00 $506.59 $91,019.45
80 $91,019.45 $917.12 $0.00 $514.64 $92,451.21
81 $92,451.21 $917.12 $0.00 $522.73 $93,891.06
82 $93,891.06 $917.12 $0.00 $530.87 $95,339.05
83 $95,339.05 $917.12 $0.00 $539.06 $96,795.23
84 $96,795.23 $917.12 $0.00 $547.29 $98,259.64
85 $98,259.64 $917.12 $0.00 $555.57 $99,732.33
86 $99,732.33 $917.12 $0.00 $563.90 $101,213.35
87 $101,213.35 $917.12 $0.00 $572.27 $102,702.74
88 $102,702.74 $917.12 $0.00 $580.70 $104,200.56
89 $104,200.56 $917.12 $0.00 $589.17 $105,706.85
90 $105,706.85 $917.12 $0.00 $597.68 $107,221.65
91 $107,221.65 $917.12 $0.00 $606.25 $108,745.02
92 $108,745.02 $917.12 $0.00 $614.86 $110,277.00
93 $110,277.00 $917.12 $0.00 $623.52 $111,817.64
94 $111,817.64 $917.12 $0.00 $632.23 $113,366.99
95 $113,366.99 $917.12 $0.00 $640.99 $114,925.10
96 $114,925.10 $917.12 $0.00 $649.80 $116,492.02
97 $116,492.02 $917.12 $0.00 $658.66 $118,067.80
98 $118,067.80 $917.12 $0.00 $667.57 $119,652.49
99 $119,652.49 $917.12 $0.00 $676.53 $121,246.14
100 $121,246.14 $917.12 $0.00 $685.54 $122,848.80
101 $122,848.80 $917.12 $0.00 $694.60 $124,460.52
102 $124,460.52 $917.12 $0.00 $703.72 $126,081.36
103 $126,081.36 $917.12 $0.00 $712.88 $127,711.36
104 $127,711.36 $917.12 $0.00 $722.10 $129,350.58
105 $129,350.58 $917.12 $0.00 $731.37 $130,999.07
106 $130,999.07 $917.12 $0.00 $740.69 $132,656.88
107 $132,656.88 $917.12 $0.00 $750.06 $134,324.06
108 $134,324.06 $917.12 $0.00 $759.49 $136,000.67
109 $136,000.67 $917.12 $0.00 $768.97 $137,686.76
110 $137,686.76 $917.12 $0.00 $778.50 $139,382.38
111 $139,382.38 $917.12 $0.00 $788.09 $141,087.59
112 $141,087.59 $917.12 $0.00 $797.73 $142,802.44
113 $142,802.44 $917.12 $0.00 $807.43 $144,526.99
114 $144,526.99 $917.12 $0.00 $817.18 $146,261.29
115 $146,261.29 $917.12 $0.00 $826.98 $148,005.39
116 $148,005.39 $917.12 $0.00 $836.84 $149,759.35
117 $149,759.35 $917.12 $0.00 $846.76 $151,523.23
118 $151,523.23 $917.12 $0.00 $856.73 $153,297.08
119 $153,297.08 $917.12 $0.00 $866.76 $155,080.96
120 $155,080.96 $917.12 $0.00 $876.85 $156,874.93
121 $156,874.93 $917.12 $0.00 $886.99 $158,679.04
122 $158,679.04 $917.12 $0.00 $897.19 $160,493.35
123 $160,493.35 $917.12 $0.00 $907.45 $162,317.92
124 $162,317.92 $917.12 $0.00 $917.77 $164,152.81
125 $164,152.81 $917.12 $0.00 $928.14 $165,998.07
126 $165,998.07 $917.12 $0.00 $938.58 $167,853.77
127 $167,853.77 $917.12 $0.00 $949.07 $169,719.96
128 $169,719.96 $917.12 $0.00 $959.62 $171,596.70
129 $171,596.70 $917.12 $0.00 $970.23 $173,484.05
130 $173,484.05 $917.12 $0.00 $980.90 $175,382.07
131 $175,382.07 $917.12 $0.00 $991.64 $177,290.83
132 $177,290.83 $917.12 $0.00 $1,002.43 $179,210.38
133 $179,210.38 $917.12 $0.00 $1,013.28 $181,140.78
134 $181,140.78 $917.12 $0.00 $1,024.20 $183,082.10
135 $183,082.10 $917.12 $0.00 $1,035.17 $185,034.39
136 $185,034.39 $917.12 $0.00 $1,046.21 $186,997.72
137 $186,997.72 $917.12 $0.00 $1,057.31 $188,972.15
138 $188,972.15 $917.12 $0.00 $1,068.48 $190,957.75
139 $190,957.75 $917.12 $0.00 $1,079.70 $192,954.57
140 $192,954.57 $917.12 $0.00 $1,090.99 $194,962.68
141 $194,962.68 $917.12 $0.00 $1,102.35 $196,982.15
142 $196,982.15 $917.12 $0.00 $1,113.77 $199,013.04
143 $199,013.04 $917.12 $0.00 $1,125.25 $201,055.41
144 $201,055.41 $917.12 $0.00 $1,136.80 $203,109.33
145 $203,109.33 $917.12 $0.00 $1,148.41 $205,174.86
146 $205,174.86 $917.12 $0.00 $1,160.09 $207,252.07
147 $207,252.07 $917.12 $0.00 $1,171.83 $209,341.02
148 $209,341.02 $917.12 $0.00 $1,183.64 $211,441.78
149 $211,441.78 $917.12 $0.00 $1,195.52 $213,554.42
150 $213,554.42 $917.12 $0.00 $1,207.47 $215,679.01
151 $215,679.01 $917.12 $0.00 $1,219.48 $217,815.61
152 $217,815.61 $917.12 $0.00 $1,231.56 $219,964.29
153 $219,964.29 $917.12 $0.00 $1,243.71 $222,125.12
154 $222,125.12 $917.12 $0.00 $1,255.93 $224,298.17
155 $224,298.17 $917.12 $0.00 $1,268.21 $226,483.50
156 $226,483.50 $917.12 $0.00 $1,280.57 $228,681.19
157 $228,681.19 $917.12 $0.00 $1,293.00 $230,891.31
158 $230,891.31 $917.12 $0.00 $1,305.49 $233,113.92
159 $233,113.92 $917.12 $0.00 $1,318.06 $235,349.10
160 $235,349.10 $917.12 $0.00 $1,330.70 $237,596.92
161 $237,596.92 $917.12 $0.00 $1,343.41 $239,857.45
162 $239,857.45 $917.12 $0.00 $1,356.19 $242,130.76
163 $242,130.76 $917.12 $0.00 $1,369.04 $244,416.92
164 $244,416.92 $917.12 $0.00 $1,381.97 $246,716.01
165 $246,716.01 $917.12 $0.00 $1,394.97 $249,028.10
166 $249,028.10 $917.12 $0.00 $1,408.04 $251,353.26
167 $251,353.26 $917.12 $0.00 $1,421.19 $253,691.57
168 $253,691.57 $917.12 $0.00 $1,434.41 $256,043.10
169 $256,043.10 $917.12 $0.00 $1,447.70 $258,407.92
170 $258,407.92 $917.12 $0.00 $1,461.08 $260,786.12
171 $260,786.12 $917.12 $0.00 $1,474.52 $263,177.76
172 $263,177.76 $917.12 $0.00 $1,488.05 $265,582.93
173 $265,582.93 $917.12 $0.00 $1,501.64 $268,001.69
174 $268,001.69 $917.12 $0.00 $1,515.32 $270,434.13
175 $270,434.13 $917.12 $0.00 $1,529.07 $272,880.32
176 $272,880.32 $917.12 $0.00 $1,542.91 $275,340.35
177 $275,340.35 $917.12 $0.00 $1,556.81 $277,814.28
178 $277,814.28 $917.12 $0.00 $1,570.80 $280,302.20
179 $280,302.20 $917.12 $0.00 $1,584.87 $282,804.19
180 $282,804.19 $917.12 $0.00 $1,599.02 $285,320.33
181 $285,320.33 $917.12 $0.00 $1,613.24 $287,850.69
182 $287,850.69 $917.12 $0.00 $1,627.55 $290,395.36
183 $290,395.36 $917.12 $0.00 $1,641.94 $292,954.42
184 $292,954.42 $917.12 $0.00 $1,656.41 $295,527.95
185 $295,527.95 $917.12 $0.00 $1,670.96 $298,116.03
186 $298,116.03 $917.12 $0.00 $1,685.59 $300,718.74
187 $300,718.74 $917.12 $0.00 $1,700.31 $303,336.17
188 $303,336.17 $917.12 $0.00 $1,715.11 $305,968.40
189 $305,968.40 $917.12 $0.00 $1,729.99 $308,615.51
190 $308,615.51 $917.12 $0.00 $1,744.96 $311,277.59
191 $311,277.59 $917.12 $0.00 $1,760.01 $313,954.72
192 $313,954.72 $917.12 $0.00 $1,775.15 $316,646.99
193 $316,646.99 $917.12 $0.00 $1,790.37 $319,354.48
194 $319,354.48 $917.12 $0.00 $1,805.68 $322,077.28
195 $322,077.28 $917.12 $0.00 $1,821.07 $324,815.47
196 $324,815.47 $917.12 $0.00 $1,836.55 $327,569.14
197 $327,569.14 $917.12 $0.00 $1,852.12 $330,338.38
198 $330,338.38 $917.12 $0.00 $1,867.78 $333,123.28
199 $333,123.28 $917.12 $0.00 $1,883.53 $335,923.93
200 $335,923.93 $917.12 $0.00 $1,899.36 $338,740.41
201 $338,740.41 $917.12 $0.00 $1,915.29 $341,572.82
202 $341,572.82 $917.12 $0.00 $1,931.30 $344,421.24
203 $344,421.24 $917.12 $0.00 $1,947.41 $347,285.77
204 $347,285.77 $917.12 $0.00 $1,963.60 $350,166.49
205 $350,166.49 $917.12 $0.00 $1,979.89 $353,063.50
206 $353,063.50 $917.12 $0.00 $1,996.27 $355,976.89
207 $355,976.89 $917.12 $0.00 $2,012.75 $358,906.76
208 $358,906.76 $917.12 $0.00 $2,029.31 $361,853.19
209 $361,853.19 $917.12 $0.00 $2,045.97 $364,816.28
210 $364,816.28 $917.12 $0.00 $2,062.72 $367,796.12
211 $367,796.12 $917.12 $0.00 $2,079.57 $370,792.81
212 $370,792.81 $917.12 $0.00 $2,096.52 $373,806.45
213 $373,806.45 $917.12 $0.00 $2,113.56 $376,837.13
214 $376,837.13 $917.12 $0.00 $2,130.69 $379,884.94
215 $379,884.94 $917.12 $0.00 $2,147.92 $382,949.98
216 $382,949.98 $917.12 $0.00 $2,165.25 $386,032.35
217 $386,032.35 $917.12 $107,522.93 $2,182.68 $281,609.22
218 $281,609.22 $917.12 $0.00 $1,592.26 $284,118.60
219 $284,118.60 $917.12 $0.00 $1,606.45 $286,642.17
220 $286,642.17 $917.12 $0.00 $1,620.72 $289,180.01
221 $289,180.01 $917.12 $0.00 $1,635.07 $291,732.20
222 $291,732.20 $917.12 $0.00 $1,649.50 $294,298.82
223 $294,298.82 $917.12 $0.00 $1,664.01 $296,879.95
224 $296,879.95 $917.12 $0.00 $1,678.60 $299,475.67
225 $299,475.67 $917.12 $0.00 $1,693.28 $302,086.07
226 $302,086.07 $917.12 $0.00 $1,708.04 $304,711.23
227 $304,711.23 $917.12 $0.00 $1,722.88 $307,351.23
228 $307,351.23 $917.12 $0.00 $1,737.81 $310,006.16
229 $310,006.16 $917.12 $112,899.08 $1,752.82 $199,777.02
230 $199,777.02 $917.12 $0.00 $1,129.57 $201,823.71
231 $201,823.71 $917.12 $0.00 $1,141.14 $203,881.97
232 $203,881.97 $917.12 $0.00 $1,152.78 $205,951.87
233 $205,951.87 $917.12 $0.00 $1,164.48 $208,033.47
234 $208,033.47 $917.12 $0.00 $1,176.25 $210,126.84
235 $210,126.84 $917.12 $0.00 $1,188.09 $212,232.05
236 $212,232.05 $917.12 $0.00 $1,199.99 $214,349.16
237 $214,349.16 $917.12 $0.00 $1,211.96 $216,478.24
238 $216,478.24 $917.12 $0.00 $1,224.00 $218,619.36
239 $218,619.36 $917.12 $0.00 $1,236.11 $220,772.59
240 $220,772.59 $917.12 $0.00 $1,248.28 $222,937.99
241 $222,937.99 $917.12 $118,544.03 $1,260.52 $106,571.60
242 $106,571.60 $917.12 $0.00 $602.57 $108,091.29
243 $108,091.29 $917.12 $0.00 $611.16 $109,619.57
244 $109,619.57 $917.12 $0.00 $619.80 $111,156.49
245 $111,156.49 $917.12 $0.00 $628.49 $112,702.10
246 $112,702.10 $917.12 $0.00 $637.23 $114,256.45
247 $114,256.45 $917.12 $0.00 $646.02 $115,819.59
248 $115,819.59 $917.12 $0.00 $654.86 $117,391.57
249 $117,391.57 $917.12 $0.00 $663.75 $118,972.44
250 $118,972.44 $917.12 $0.00 $672.69 $120,562.25
251 $120,562.25 $917.12 $0.00 $681.68 $122,161.05
252 $122,161.05 $917.12 $0.00 $690.72 $123,768.89
253 $123,768.89 $0.00 $124,471.24 $699.81 ($2.54)