Savings Plan and Future Cost Estimation for New England College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$152,268
Monthly savings required$1,205

How much will it cost to send your child to New England College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $609,071.82 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,205.33 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$58,718.00
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 $1,205.33 $0.00 $0.00 $1,205.33
2 $1,205.33 $1,205.33 $0.00 $6.82 $2,417.48
3 $2,417.48 $1,205.33 $0.00 $13.67 $3,636.48
4 $3,636.48 $1,205.33 $0.00 $20.56 $4,862.37
5 $4,862.37 $1,205.33 $0.00 $27.49 $6,095.19
6 $6,095.19 $1,205.33 $0.00 $34.46 $7,334.98
7 $7,334.98 $1,205.33 $0.00 $41.47 $8,581.78
8 $8,581.78 $1,205.33 $0.00 $48.52 $9,835.63
9 $9,835.63 $1,205.33 $0.00 $55.61 $11,096.57
10 $11,096.57 $1,205.33 $0.00 $62.74 $12,364.64
11 $12,364.64 $1,205.33 $0.00 $69.91 $13,639.88
12 $13,639.88 $1,205.33 $0.00 $77.12 $14,922.33
13 $14,922.33 $1,205.33 $0.00 $84.37 $16,212.03
14 $16,212.03 $1,205.33 $0.00 $91.67 $17,509.03
15 $17,509.03 $1,205.33 $0.00 $99.00 $18,813.36
16 $18,813.36 $1,205.33 $0.00 $106.37 $20,125.06
17 $20,125.06 $1,205.33 $0.00 $113.79 $21,444.18
18 $21,444.18 $1,205.33 $0.00 $121.25 $22,770.76
19 $22,770.76 $1,205.33 $0.00 $128.75 $24,104.84
20 $24,104.84 $1,205.33 $0.00 $136.29 $25,446.46
21 $25,446.46 $1,205.33 $0.00 $143.88 $26,795.67
22 $26,795.67 $1,205.33 $0.00 $151.51 $28,152.51
23 $28,152.51 $1,205.33 $0.00 $159.18 $29,517.02
24 $29,517.02 $1,205.33 $0.00 $166.89 $30,889.24
25 $30,889.24 $1,205.33 $0.00 $174.65 $32,269.22
26 $32,269.22 $1,205.33 $0.00 $182.45 $33,657.00
27 $33,657.00 $1,205.33 $0.00 $190.30 $35,052.63
28 $35,052.63 $1,205.33 $0.00 $198.19 $36,456.15
29 $36,456.15 $1,205.33 $0.00 $206.13 $37,867.61
30 $37,867.61 $1,205.33 $0.00 $214.11 $39,287.05
31 $39,287.05 $1,205.33 $0.00 $222.13 $40,714.51
32 $40,714.51 $1,205.33 $0.00 $230.21 $42,150.05
33 $42,150.05 $1,205.33 $0.00 $238.32 $43,593.70
34 $43,593.70 $1,205.33 $0.00 $246.49 $45,045.52
35 $45,045.52 $1,205.33 $0.00 $254.69 $46,505.54
36 $46,505.54 $1,205.33 $0.00 $262.95 $47,973.82
37 $47,973.82 $1,205.33 $0.00 $271.25 $49,450.40
38 $49,450.40 $1,205.33 $0.00 $279.60 $50,935.33
39 $50,935.33 $1,205.33 $0.00 $288.00 $52,428.66
40 $52,428.66 $1,205.33 $0.00 $296.44 $53,930.43
41 $53,930.43 $1,205.33 $0.00 $304.93 $55,440.69
42 $55,440.69 $1,205.33 $0.00 $313.47 $56,959.49
43 $56,959.49 $1,205.33 $0.00 $322.06 $58,486.88
44 $58,486.88 $1,205.33 $0.00 $330.69 $60,022.90
45 $60,022.90 $1,205.33 $0.00 $339.38 $61,567.61
46 $61,567.61 $1,205.33 $0.00 $348.11 $63,121.05
47 $63,121.05 $1,205.33 $0.00 $356.90 $64,683.28
48 $64,683.28 $1,205.33 $0.00 $365.73 $66,254.34
49 $66,254.34 $1,205.33 $0.00 $374.61 $67,834.28
50 $67,834.28 $1,205.33 $0.00 $383.54 $69,423.15
51 $69,423.15 $1,205.33 $0.00 $392.53 $71,021.01
52 $71,021.01 $1,205.33 $0.00 $401.56 $72,627.90
53 $72,627.90 $1,205.33 $0.00 $410.65 $74,243.88
54 $74,243.88 $1,205.33 $0.00 $419.79 $75,869.00
55 $75,869.00 $1,205.33 $0.00 $428.97 $77,503.30
56 $77,503.30 $1,205.33 $0.00 $438.21 $79,146.84
57 $79,146.84 $1,205.33 $0.00 $447.51 $80,799.68
58 $80,799.68 $1,205.33 $0.00 $456.85 $82,461.86
59 $82,461.86 $1,205.33 $0.00 $466.25 $84,133.44
60 $84,133.44 $1,205.33 $0.00 $475.70 $85,814.47
61 $85,814.47 $1,205.33 $0.00 $485.21 $87,505.01
62 $87,505.01 $1,205.33 $0.00 $494.77 $89,205.11
63 $89,205.11 $1,205.33 $0.00 $504.38 $90,914.82
64 $90,914.82 $1,205.33 $0.00 $514.05 $92,634.20
65 $92,634.20 $1,205.33 $0.00 $523.77 $94,363.30
66 $94,363.30 $1,205.33 $0.00 $533.54 $96,102.17
67 $96,102.17 $1,205.33 $0.00 $543.38 $97,850.88
68 $97,850.88 $1,205.33 $0.00 $553.26 $99,609.47
69 $99,609.47 $1,205.33 $0.00 $563.21 $101,378.01
70 $101,378.01 $1,205.33 $0.00 $573.21 $103,156.55
71 $103,156.55 $1,205.33 $0.00 $583.26 $104,945.14
72 $104,945.14 $1,205.33 $0.00 $593.38 $106,743.85
73 $106,743.85 $1,205.33 $0.00 $603.55 $108,552.73
74 $108,552.73 $1,205.33 $0.00 $613.77 $110,371.83
75 $110,371.83 $1,205.33 $0.00 $624.06 $112,201.22
76 $112,201.22 $1,205.33 $0.00 $634.40 $114,040.95
77 $114,040.95 $1,205.33 $0.00 $644.80 $115,891.08
78 $115,891.08 $1,205.33 $0.00 $655.27 $117,751.68
79 $117,751.68 $1,205.33 $0.00 $665.79 $119,622.80
80 $119,622.80 $1,205.33 $0.00 $676.36 $121,504.49
81 $121,504.49 $1,205.33 $0.00 $687.00 $123,396.82
82 $123,396.82 $1,205.33 $0.00 $697.70 $125,299.85
83 $125,299.85 $1,205.33 $0.00 $708.46 $127,213.64
84 $127,213.64 $1,205.33 $0.00 $719.28 $129,138.25
85 $129,138.25 $1,205.33 $0.00 $730.17 $131,073.75
86 $131,073.75 $1,205.33 $0.00 $741.11 $133,020.19
87 $133,020.19 $1,205.33 $0.00 $752.12 $134,977.64
88 $134,977.64 $1,205.33 $0.00 $763.18 $136,946.15
89 $136,946.15 $1,205.33 $0.00 $774.31 $138,925.79
90 $138,925.79 $1,205.33 $0.00 $785.51 $140,916.63
91 $140,916.63 $1,205.33 $0.00 $796.76 $142,918.72
92 $142,918.72 $1,205.33 $0.00 $808.08 $144,932.13
93 $144,932.13 $1,205.33 $0.00 $819.47 $146,956.93
94 $146,956.93 $1,205.33 $0.00 $830.92 $148,993.18
95 $148,993.18 $1,205.33 $0.00 $842.43 $151,040.94
96 $151,040.94 $1,205.33 $0.00 $854.01 $153,100.28
97 $153,100.28 $1,205.33 $0.00 $865.65 $155,171.26
98 $155,171.26 $1,205.33 $0.00 $877.36 $157,253.95
99 $157,253.95 $1,205.33 $0.00 $889.14 $159,348.42
100 $159,348.42 $1,205.33 $0.00 $900.98 $161,454.73
101 $161,454.73 $1,205.33 $0.00 $912.89 $163,572.95
102 $163,572.95 $1,205.33 $0.00 $924.87 $165,703.15
103 $165,703.15 $1,205.33 $0.00 $936.91 $167,845.39
104 $167,845.39 $1,205.33 $0.00 $949.02 $169,999.74
105 $169,999.74 $1,205.33 $0.00 $961.20 $172,166.27
106 $172,166.27 $1,205.33 $0.00 $973.45 $174,345.05
107 $174,345.05 $1,205.33 $0.00 $985.77 $176,536.15
108 $176,536.15 $1,205.33 $0.00 $998.16 $178,739.64
109 $178,739.64 $1,205.33 $0.00 $1,010.62 $180,955.59
110 $180,955.59 $1,205.33 $0.00 $1,023.15 $183,184.07
111 $183,184.07 $1,205.33 $0.00 $1,035.75 $185,425.15
112 $185,425.15 $1,205.33 $0.00 $1,048.42 $187,678.90
113 $187,678.90 $1,205.33 $0.00 $1,061.16 $189,945.39
114 $189,945.39 $1,205.33 $0.00 $1,073.98 $192,224.70
115 $192,224.70 $1,205.33 $0.00 $1,086.87 $194,516.90
116 $194,516.90 $1,205.33 $0.00 $1,099.83 $196,822.06
117 $196,822.06 $1,205.33 $0.00 $1,112.86 $199,140.25
118 $199,140.25 $1,205.33 $0.00 $1,125.97 $201,471.55
119 $201,471.55 $1,205.33 $0.00 $1,139.15 $203,816.03
120 $203,816.03 $1,205.33 $0.00 $1,152.41 $206,173.77
121 $206,173.77 $1,205.33 $0.00 $1,165.74 $208,544.84
122 $208,544.84 $1,205.33 $0.00 $1,179.14 $210,929.31
123 $210,929.31 $1,205.33 $0.00 $1,192.62 $213,327.26
124 $213,327.26 $1,205.33 $0.00 $1,206.18 $215,738.77
125 $215,738.77 $1,205.33 $0.00 $1,219.82 $218,163.92
126 $218,163.92 $1,205.33 $0.00 $1,233.53 $220,602.78
127 $220,602.78 $1,205.33 $0.00 $1,247.32 $223,055.43
128 $223,055.43 $1,205.33 $0.00 $1,261.19 $225,521.95
129 $225,521.95 $1,205.33 $0.00 $1,275.13 $228,002.41
130 $228,002.41 $1,205.33 $0.00 $1,289.16 $230,496.90
131 $230,496.90 $1,205.33 $0.00 $1,303.26 $233,005.49
132 $233,005.49 $1,205.33 $0.00 $1,317.45 $235,528.27
133 $235,528.27 $1,205.33 $0.00 $1,331.71 $238,065.31
134 $238,065.31 $1,205.33 $0.00 $1,346.06 $240,616.70
135 $240,616.70 $1,205.33 $0.00 $1,360.48 $243,182.51
136 $243,182.51 $1,205.33 $0.00 $1,374.99 $245,762.83
137 $245,762.83 $1,205.33 $0.00 $1,389.58 $248,357.74
138 $248,357.74 $1,205.33 $0.00 $1,404.25 $250,967.32
139 $250,967.32 $1,205.33 $0.00 $1,419.01 $253,591.66
140 $253,591.66 $1,205.33 $0.00 $1,433.84 $256,230.83
141 $256,230.83 $1,205.33 $0.00 $1,448.77 $258,884.93
142 $258,884.93 $1,205.33 $0.00 $1,463.77 $261,554.03
143 $261,554.03 $1,205.33 $0.00 $1,478.86 $264,238.22
144 $264,238.22 $1,205.33 $0.00 $1,494.04 $266,937.59
145 $266,937.59 $1,205.33 $0.00 $1,509.30 $269,652.22
146 $269,652.22 $1,205.33 $0.00 $1,524.65 $272,382.20
147 $272,382.20 $1,205.33 $0.00 $1,540.09 $275,127.62
148 $275,127.62 $1,205.33 $0.00 $1,555.61 $277,888.56
149 $277,888.56 $1,205.33 $0.00 $1,571.22 $280,665.11
150 $280,665.11 $1,205.33 $0.00 $1,586.92 $283,457.36
151 $283,457.36 $1,205.33 $0.00 $1,602.71 $286,265.40
152 $286,265.40 $1,205.33 $0.00 $1,618.59 $289,089.32
153 $289,089.32 $1,205.33 $0.00 $1,634.55 $291,929.20
154 $291,929.20 $1,205.33 $0.00 $1,650.61 $294,785.14
155 $294,785.14 $1,205.33 $0.00 $1,666.76 $297,657.23
156 $297,657.23 $1,205.33 $0.00 $1,683.00 $300,545.56
157 $300,545.56 $1,205.33 $0.00 $1,699.33 $303,450.22
158 $303,450.22 $1,205.33 $0.00 $1,715.75 $306,371.30
159 $306,371.30 $1,205.33 $0.00 $1,732.27 $309,308.90
160 $309,308.90 $1,205.33 $0.00 $1,748.88 $312,263.11
161 $312,263.11 $1,205.33 $0.00 $1,765.58 $315,234.02
162 $315,234.02 $1,205.33 $0.00 $1,782.38 $318,221.73
163 $318,221.73 $1,205.33 $0.00 $1,799.27 $321,226.33
164 $321,226.33 $1,205.33 $0.00 $1,816.26 $324,247.92
165 $324,247.92 $1,205.33 $0.00 $1,833.34 $327,286.59
166 $327,286.59 $1,205.33 $0.00 $1,850.53 $330,342.45
167 $330,342.45 $1,205.33 $0.00 $1,867.80 $333,415.58
168 $333,415.58 $1,205.33 $0.00 $1,885.18 $336,506.09
169 $336,506.09 $1,205.33 $0.00 $1,902.65 $339,614.07
170 $339,614.07 $1,205.33 $0.00 $1,920.23 $342,739.63
171 $342,739.63 $1,205.33 $0.00 $1,937.90 $345,882.86
172 $345,882.86 $1,205.33 $0.00 $1,955.67 $349,043.86
173 $349,043.86 $1,205.33 $0.00 $1,973.54 $352,222.73
174 $352,222.73 $1,205.33 $0.00 $1,991.52 $355,419.58
175 $355,419.58 $1,205.33 $0.00 $2,009.59 $358,634.50
176 $358,634.50 $1,205.33 $0.00 $2,027.77 $361,867.60
177 $361,867.60 $1,205.33 $0.00 $2,046.05 $365,118.98
178 $365,118.98 $1,205.33 $0.00 $2,064.44 $368,388.75
179 $368,388.75 $1,205.33 $0.00 $2,082.92 $371,677.00
180 $371,677.00 $1,205.33 $0.00 $2,101.52 $374,983.85
181 $374,983.85 $1,205.33 $0.00 $2,120.21 $378,309.39
182 $378,309.39 $1,205.33 $0.00 $2,139.02 $381,653.74
183 $381,653.74 $1,205.33 $0.00 $2,157.93 $385,017.00
184 $385,017.00 $1,205.33 $0.00 $2,176.94 $388,399.27
185 $388,399.27 $1,205.33 $0.00 $2,196.07 $391,800.67
186 $391,800.67 $1,205.33 $0.00 $2,215.30 $395,221.30
187 $395,221.30 $1,205.33 $0.00 $2,234.64 $398,661.27
188 $398,661.27 $1,205.33 $0.00 $2,254.09 $402,120.69
189 $402,120.69 $1,205.33 $0.00 $2,273.65 $405,599.67
190 $405,599.67 $1,205.33 $0.00 $2,293.32 $409,098.32
191 $409,098.32 $1,205.33 $0.00 $2,313.10 $412,616.75
192 $412,616.75 $1,205.33 $0.00 $2,333.00 $416,155.08
193 $416,155.08 $1,205.33 $0.00 $2,353.00 $419,713.41
194 $419,713.41 $1,205.33 $0.00 $2,373.12 $423,291.86
195 $423,291.86 $1,205.33 $0.00 $2,393.35 $426,890.54
196 $426,890.54 $1,205.33 $0.00 $2,413.70 $430,509.57
197 $430,509.57 $1,205.33 $0.00 $2,434.16 $434,149.06
198 $434,149.06 $1,205.33 $0.00 $2,454.74 $437,809.13
199 $437,809.13 $1,205.33 $0.00 $2,475.44 $441,489.90
200 $441,489.90 $1,205.33 $0.00 $2,496.25 $445,191.48
201 $445,191.48 $1,205.33 $0.00 $2,517.18 $448,913.99
202 $448,913.99 $1,205.33 $0.00 $2,538.22 $452,657.54
203 $452,657.54 $1,205.33 $0.00 $2,559.39 $456,422.26
204 $456,422.26 $1,205.33 $0.00 $2,580.68 $460,208.27
205 $460,208.27 $1,205.33 $0.00 $2,602.08 $464,015.68
206 $464,015.68 $1,205.33 $0.00 $2,623.61 $467,844.62
207 $467,844.62 $1,205.33 $0.00 $2,645.26 $471,695.21
208 $471,695.21 $1,205.33 $0.00 $2,667.03 $475,567.57
209 $475,567.57 $1,205.33 $0.00 $2,688.93 $479,461.83
210 $479,461.83 $1,205.33 $0.00 $2,710.95 $483,378.11
211 $483,378.11 $1,205.33 $0.00 $2,733.09 $487,316.53
212 $487,316.53 $1,205.33 $0.00 $2,755.36 $491,277.22
213 $491,277.22 $1,205.33 $0.00 $2,777.75 $495,260.30
214 $495,260.30 $1,205.33 $0.00 $2,800.27 $499,265.90
215 $499,265.90 $1,205.33 $0.00 $2,822.92 $503,294.15
216 $503,294.15 $1,205.33 $0.00 $2,845.70 $507,345.18
217 $507,345.18 $1,205.33 $141,311.87 $2,868.60 $370,107.24
218 $370,107.24 $1,205.33 $0.00 $2,092.64 $373,405.21
219 $373,405.21 $1,205.33 $0.00 $2,111.29 $376,721.83
220 $376,721.83 $1,205.33 $0.00 $2,130.04 $380,057.20
221 $380,057.20 $1,205.33 $0.00 $2,148.90 $383,411.43
222 $383,411.43 $1,205.33 $0.00 $2,167.86 $386,784.62
223 $386,784.62 $1,205.33 $0.00 $2,186.94 $390,176.89
224 $390,176.89 $1,205.33 $0.00 $2,206.12 $393,588.34
225 $393,588.34 $1,205.33 $0.00 $2,225.41 $397,019.08
226 $397,019.08 $1,205.33 $0.00 $2,244.80 $400,469.21
227 $400,469.21 $1,205.33 $0.00 $2,264.31 $403,938.85
228 $403,938.85 $1,205.33 $0.00 $2,283.93 $407,428.11
229 $407,428.11 $1,205.33 $148,377.46 $2,303.66 $262,559.64
230 $262,559.64 $1,205.33 $0.00 $1,484.55 $265,249.52
231 $265,249.52 $1,205.33 $0.00 $1,499.76 $267,954.61
232 $267,954.61 $1,205.33 $0.00 $1,515.05 $270,674.99
233 $270,674.99 $1,205.33 $0.00 $1,530.44 $273,410.76
234 $273,410.76 $1,205.33 $0.00 $1,545.90 $276,161.99
235 $276,161.99 $1,205.33 $0.00 $1,561.46 $278,928.78
236 $278,928.78 $1,205.33 $0.00 $1,577.10 $281,711.21
237 $281,711.21 $1,205.33 $0.00 $1,592.84 $284,509.38
238 $284,509.38 $1,205.33 $0.00 $1,608.66 $287,323.37
239 $287,323.37 $1,205.33 $0.00 $1,624.57 $290,153.27
240 $290,153.27 $1,205.33 $0.00 $1,640.57 $292,999.17
241 $292,999.17 $1,205.33 $155,796.33 $1,656.66 $140,064.83
242 $140,064.83 $1,205.33 $0.00 $791.95 $142,062.11
243 $142,062.11 $1,205.33 $0.00 $803.24 $144,070.68
244 $144,070.68 $1,205.33 $0.00 $814.60 $146,090.61
245 $146,090.61 $1,205.33 $0.00 $826.02 $148,121.96
246 $148,121.96 $1,205.33 $0.00 $837.50 $150,164.79
247 $150,164.79 $1,205.33 $0.00 $849.05 $152,219.17
248 $152,219.17 $1,205.33 $0.00 $860.67 $154,285.17
249 $154,285.17 $1,205.33 $0.00 $872.35 $156,362.85
250 $156,362.85 $1,205.33 $0.00 $884.10 $158,452.28
251 $158,452.28 $1,205.33 $0.00 $895.91 $160,553.52
252 $160,553.52 $1,205.33 $0.00 $907.79 $162,666.64
253 $162,666.64 $0.00 $163,586.15 $919.74 $0.23