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 2041$155,888
Monthly savings required$1,234

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 $623,552.29 for students enrolling in 2041 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,233.98 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$60,114.00
Years until enrollment18
Annual Tuition Increase5%
Current Savings$0.00
After Tax Return on Savings7%
Years of enrollment4

Current Savings Shortfall

College Savings Calculator

Update Your Savings Plan

Discover how much will you need to start saving now to afford New England College in the future.

Planned Savings Balance

College Savings Schedule

Month Begin Deposit Withdraw Interest End
1 $0.00 $1,233.98 $0.00 $0.00 $1,233.98
2 $1,233.98 $1,233.98 $0.00 $6.98 $2,474.94
3 $2,474.94 $1,233.98 $0.00 $13.99 $3,722.91
4 $3,722.91 $1,233.98 $0.00 $21.05 $4,977.94
5 $4,977.94 $1,233.98 $0.00 $28.15 $6,240.07
6 $6,240.07 $1,233.98 $0.00 $35.28 $7,509.33
7 $7,509.33 $1,233.98 $0.00 $42.46 $8,785.77
8 $8,785.77 $1,233.98 $0.00 $49.68 $10,069.43
9 $10,069.43 $1,233.98 $0.00 $56.93 $11,360.34
10 $11,360.34 $1,233.98 $0.00 $64.23 $12,658.55
11 $12,658.55 $1,233.98 $0.00 $71.57 $13,964.10
12 $13,964.10 $1,233.98 $0.00 $78.96 $15,277.04
13 $15,277.04 $1,233.98 $0.00 $86.38 $16,597.40
14 $16,597.40 $1,233.98 $0.00 $93.84 $17,925.22
15 $17,925.22 $1,233.98 $0.00 $101.35 $19,260.55
16 $19,260.55 $1,233.98 $0.00 $108.90 $20,603.43
17 $20,603.43 $1,233.98 $0.00 $116.49 $21,953.90
18 $21,953.90 $1,233.98 $0.00 $124.13 $23,312.01
19 $23,312.01 $1,233.98 $0.00 $131.81 $24,677.80
20 $24,677.80 $1,233.98 $0.00 $139.53 $26,051.31
21 $26,051.31 $1,233.98 $0.00 $147.30 $27,432.59
22 $27,432.59 $1,233.98 $0.00 $155.11 $28,821.68
23 $28,821.68 $1,233.98 $0.00 $162.96 $30,218.62
24 $30,218.62 $1,233.98 $0.00 $170.86 $31,623.46
25 $31,623.46 $1,233.98 $0.00 $178.80 $33,036.24
26 $33,036.24 $1,233.98 $0.00 $186.79 $34,457.01
27 $34,457.01 $1,233.98 $0.00 $194.82 $35,885.81
28 $35,885.81 $1,233.98 $0.00 $202.90 $37,322.69
29 $37,322.69 $1,233.98 $0.00 $211.03 $38,767.70
30 $38,767.70 $1,233.98 $0.00 $219.20 $40,220.88
31 $40,220.88 $1,233.98 $0.00 $227.41 $41,682.27
32 $41,682.27 $1,233.98 $0.00 $235.68 $43,151.93
33 $43,151.93 $1,233.98 $0.00 $243.99 $44,629.90
34 $44,629.90 $1,233.98 $0.00 $252.34 $46,116.22
35 $46,116.22 $1,233.98 $0.00 $260.75 $47,610.95
36 $47,610.95 $1,233.98 $0.00 $269.20 $49,114.13
37 $49,114.13 $1,233.98 $0.00 $277.70 $50,625.81
38 $50,625.81 $1,233.98 $0.00 $286.25 $52,146.04
39 $52,146.04 $1,233.98 $0.00 $294.84 $53,674.86
40 $53,674.86 $1,233.98 $0.00 $303.49 $55,212.33
41 $55,212.33 $1,233.98 $0.00 $312.18 $56,758.49
42 $56,758.49 $1,233.98 $0.00 $320.92 $58,313.39
43 $58,313.39 $1,233.98 $0.00 $329.71 $59,877.08
44 $59,877.08 $1,233.98 $0.00 $338.55 $61,449.61
45 $61,449.61 $1,233.98 $0.00 $347.45 $63,031.04
46 $63,031.04 $1,233.98 $0.00 $356.39 $64,621.41
47 $64,621.41 $1,233.98 $0.00 $365.38 $66,220.77
48 $66,220.77 $1,233.98 $0.00 $374.42 $67,829.17
49 $67,829.17 $1,233.98 $0.00 $383.52 $69,446.67
50 $69,446.67 $1,233.98 $0.00 $392.66 $71,073.31
51 $71,073.31 $1,233.98 $0.00 $401.86 $72,709.15
52 $72,709.15 $1,233.98 $0.00 $411.11 $74,354.24
53 $74,354.24 $1,233.98 $0.00 $420.41 $76,008.63
54 $76,008.63 $1,233.98 $0.00 $429.76 $77,672.37
55 $77,672.37 $1,233.98 $0.00 $439.17 $79,345.52
56 $79,345.52 $1,233.98 $0.00 $448.63 $81,028.13
57 $81,028.13 $1,233.98 $0.00 $458.14 $82,720.25
58 $82,720.25 $1,233.98 $0.00 $467.71 $84,421.94
59 $84,421.94 $1,233.98 $0.00 $477.33 $86,133.25
60 $86,133.25 $1,233.98 $0.00 $487.01 $87,854.24
61 $87,854.24 $1,233.98 $0.00 $496.74 $89,584.96
62 $89,584.96 $1,233.98 $0.00 $506.53 $91,325.47
63 $91,325.47 $1,233.98 $0.00 $516.37 $93,075.82
64 $93,075.82 $1,233.98 $0.00 $526.26 $94,836.06
65 $94,836.06 $1,233.98 $0.00 $536.22 $96,606.26
66 $96,606.26 $1,233.98 $0.00 $546.23 $98,386.47
67 $98,386.47 $1,233.98 $0.00 $556.29 $100,176.74
68 $100,176.74 $1,233.98 $0.00 $566.41 $101,977.13
69 $101,977.13 $1,233.98 $0.00 $576.59 $103,787.70
70 $103,787.70 $1,233.98 $0.00 $586.83 $105,608.51
71 $105,608.51 $1,233.98 $0.00 $597.13 $107,439.62
72 $107,439.62 $1,233.98 $0.00 $607.48 $109,281.08
73 $109,281.08 $1,233.98 $0.00 $617.89 $111,132.95
74 $111,132.95 $1,233.98 $0.00 $628.36 $112,995.29
75 $112,995.29 $1,233.98 $0.00 $638.89 $114,868.16
76 $114,868.16 $1,233.98 $0.00 $649.48 $116,751.62
77 $116,751.62 $1,233.98 $0.00 $660.13 $118,645.73
78 $118,645.73 $1,233.98 $0.00 $670.84 $120,550.55
79 $120,550.55 $1,233.98 $0.00 $681.61 $122,466.14
80 $122,466.14 $1,233.98 $0.00 $692.44 $124,392.56
81 $124,392.56 $1,233.98 $0.00 $703.33 $126,329.87
82 $126,329.87 $1,233.98 $0.00 $714.29 $128,278.14
83 $128,278.14 $1,233.98 $0.00 $725.30 $130,237.42
84 $130,237.42 $1,233.98 $0.00 $736.38 $132,207.78
85 $132,207.78 $1,233.98 $0.00 $747.52 $134,189.28
86 $134,189.28 $1,233.98 $0.00 $758.73 $136,181.99
87 $136,181.99 $1,233.98 $0.00 $769.99 $138,185.96
88 $138,185.96 $1,233.98 $0.00 $781.32 $140,201.26
89 $140,201.26 $1,233.98 $0.00 $792.72 $142,227.96
90 $142,227.96 $1,233.98 $0.00 $804.18 $144,266.12
91 $144,266.12 $1,233.98 $0.00 $815.70 $146,315.80
92 $146,315.80 $1,233.98 $0.00 $827.29 $148,377.07
93 $148,377.07 $1,233.98 $0.00 $838.95 $150,450.00
94 $150,450.00 $1,233.98 $0.00 $850.67 $152,534.65
95 $152,534.65 $1,233.98 $0.00 $862.45 $154,631.08
96 $154,631.08 $1,233.98 $0.00 $874.31 $156,739.37
97 $156,739.37 $1,233.98 $0.00 $886.23 $158,859.58
98 $158,859.58 $1,233.98 $0.00 $898.22 $160,991.78
99 $160,991.78 $1,233.98 $0.00 $910.27 $163,136.03
100 $163,136.03 $1,233.98 $0.00 $922.39 $165,292.40
101 $165,292.40 $1,233.98 $0.00 $934.59 $167,460.97
102 $167,460.97 $1,233.98 $0.00 $946.85 $169,641.80
103 $169,641.80 $1,233.98 $0.00 $959.18 $171,834.96
104 $171,834.96 $1,233.98 $0.00 $971.58 $174,040.52
105 $174,040.52 $1,233.98 $0.00 $984.05 $176,258.55
106 $176,258.55 $1,233.98 $0.00 $996.59 $178,489.12
107 $178,489.12 $1,233.98 $0.00 $1,009.20 $180,732.30
108 $180,732.30 $1,233.98 $0.00 $1,021.89 $182,988.17
109 $182,988.17 $1,233.98 $0.00 $1,034.64 $185,256.79
110 $185,256.79 $1,233.98 $0.00 $1,047.47 $187,538.24
111 $187,538.24 $1,233.98 $0.00 $1,060.37 $189,832.59
112 $189,832.59 $1,233.98 $0.00 $1,073.34 $192,139.91
113 $192,139.91 $1,233.98 $0.00 $1,086.39 $194,460.28
114 $194,460.28 $1,233.98 $0.00 $1,099.51 $196,793.77
115 $196,793.77 $1,233.98 $0.00 $1,112.70 $199,140.45
116 $199,140.45 $1,233.98 $0.00 $1,125.97 $201,500.40
117 $201,500.40 $1,233.98 $0.00 $1,139.31 $203,873.69
118 $203,873.69 $1,233.98 $0.00 $1,152.73 $206,260.40
119 $206,260.40 $1,233.98 $0.00 $1,166.23 $208,660.61
120 $208,660.61 $1,233.98 $0.00 $1,179.80 $211,074.39
121 $211,074.39 $1,233.98 $0.00 $1,193.45 $213,501.82
122 $213,501.82 $1,233.98 $0.00 $1,207.17 $215,942.97
123 $215,942.97 $1,233.98 $0.00 $1,220.97 $218,397.92
124 $218,397.92 $1,233.98 $0.00 $1,234.85 $220,866.75
125 $220,866.75 $1,233.98 $0.00 $1,248.81 $223,349.54
126 $223,349.54 $1,233.98 $0.00 $1,262.85 $225,846.37
127 $225,846.37 $1,233.98 $0.00 $1,276.97 $228,357.32
128 $228,357.32 $1,233.98 $0.00 $1,291.17 $230,882.47
129 $230,882.47 $1,233.98 $0.00 $1,305.44 $233,421.89
130 $233,421.89 $1,233.98 $0.00 $1,319.80 $235,975.67
131 $235,975.67 $1,233.98 $0.00 $1,334.24 $238,543.89
132 $238,543.89 $1,233.98 $0.00 $1,348.76 $241,126.63
133 $241,126.63 $1,233.98 $0.00 $1,363.37 $243,723.98
134 $243,723.98 $1,233.98 $0.00 $1,378.05 $246,336.01
135 $246,336.01 $1,233.98 $0.00 $1,392.82 $248,962.81
136 $248,962.81 $1,233.98 $0.00 $1,407.67 $251,604.46
137 $251,604.46 $1,233.98 $0.00 $1,422.61 $254,261.05
138 $254,261.05 $1,233.98 $0.00 $1,437.63 $256,932.66
139 $256,932.66 $1,233.98 $0.00 $1,452.73 $259,619.37
140 $259,619.37 $1,233.98 $0.00 $1,467.93 $262,321.28
141 $262,321.28 $1,233.98 $0.00 $1,483.20 $265,038.46
142 $265,038.46 $1,233.98 $0.00 $1,498.57 $267,771.01
143 $267,771.01 $1,233.98 $0.00 $1,514.02 $270,519.01
144 $270,519.01 $1,233.98 $0.00 $1,529.55 $273,282.54
145 $273,282.54 $1,233.98 $0.00 $1,545.18 $276,061.70
146 $276,061.70 $1,233.98 $0.00 $1,560.89 $278,856.57
147 $278,856.57 $1,233.98 $0.00 $1,576.70 $281,667.25
148 $281,667.25 $1,233.98 $0.00 $1,592.59 $284,493.82
149 $284,493.82 $1,233.98 $0.00 $1,608.57 $287,336.37
150 $287,336.37 $1,233.98 $0.00 $1,624.64 $290,194.99
151 $290,194.99 $1,233.98 $0.00 $1,640.80 $293,069.77
152 $293,069.77 $1,233.98 $0.00 $1,657.06 $295,960.81
153 $295,960.81 $1,233.98 $0.00 $1,673.41 $298,868.20
154 $298,868.20 $1,233.98 $0.00 $1,689.84 $301,792.02
155 $301,792.02 $1,233.98 $0.00 $1,706.38 $304,732.38
156 $304,732.38 $1,233.98 $0.00 $1,723.00 $307,689.36
157 $307,689.36 $1,233.98 $0.00 $1,739.72 $310,663.06
158 $310,663.06 $1,233.98 $0.00 $1,756.53 $313,653.57
159 $313,653.57 $1,233.98 $0.00 $1,773.44 $316,660.99
160 $316,660.99 $1,233.98 $0.00 $1,790.45 $319,685.42
161 $319,685.42 $1,233.98 $0.00 $1,807.55 $322,726.95
162 $322,726.95 $1,233.98 $0.00 $1,824.75 $325,785.68
163 $325,785.68 $1,233.98 $0.00 $1,842.04 $328,861.70
164 $328,861.70 $1,233.98 $0.00 $1,859.43 $331,955.11
165 $331,955.11 $1,233.98 $0.00 $1,876.92 $335,066.01
166 $335,066.01 $1,233.98 $0.00 $1,894.51 $338,194.50
167 $338,194.50 $1,233.98 $0.00 $1,912.20 $341,340.68
168 $341,340.68 $1,233.98 $0.00 $1,929.99 $344,504.65
169 $344,504.65 $1,233.98 $0.00 $1,947.88 $347,686.51
170 $347,686.51 $1,233.98 $0.00 $1,965.87 $350,886.36
171 $350,886.36 $1,233.98 $0.00 $1,983.96 $354,104.30
172 $354,104.30 $1,233.98 $0.00 $2,002.16 $357,340.44
173 $357,340.44 $1,233.98 $0.00 $2,020.45 $360,594.87
174 $360,594.87 $1,233.98 $0.00 $2,038.86 $363,867.71
175 $363,867.71 $1,233.98 $0.00 $2,057.36 $367,159.05
176 $367,159.05 $1,233.98 $0.00 $2,075.97 $370,469.00
177 $370,469.00 $1,233.98 $0.00 $2,094.69 $373,797.67
178 $373,797.67 $1,233.98 $0.00 $2,113.51 $377,145.16
179 $377,145.16 $1,233.98 $0.00 $2,132.43 $380,511.57
180 $380,511.57 $1,233.98 $0.00 $2,151.47 $383,897.02
181 $383,897.02 $1,233.98 $0.00 $2,170.61 $387,301.61
182 $387,301.61 $1,233.98 $0.00 $2,189.86 $390,725.45
183 $390,725.45 $1,233.98 $0.00 $2,209.22 $394,168.65
184 $394,168.65 $1,233.98 $0.00 $2,228.69 $397,631.32
185 $397,631.32 $1,233.98 $0.00 $2,248.27 $401,113.57
186 $401,113.57 $1,233.98 $0.00 $2,267.95 $404,615.50
187 $404,615.50 $1,233.98 $0.00 $2,287.75 $408,137.23
188 $408,137.23 $1,233.98 $0.00 $2,307.67 $411,678.88
189 $411,678.88 $1,233.98 $0.00 $2,327.69 $415,240.55
190 $415,240.55 $1,233.98 $0.00 $2,347.83 $418,822.36
191 $418,822.36 $1,233.98 $0.00 $2,368.08 $422,424.42
192 $422,424.42 $1,233.98 $0.00 $2,388.45 $426,046.85
193 $426,046.85 $1,233.98 $0.00 $2,408.93 $429,689.76
194 $429,689.76 $1,233.98 $0.00 $2,429.53 $433,353.27
195 $433,353.27 $1,233.98 $0.00 $2,450.24 $437,037.49
196 $437,037.49 $1,233.98 $0.00 $2,471.07 $440,742.54
197 $440,742.54 $1,233.98 $0.00 $2,492.02 $444,468.54
198 $444,468.54 $1,233.98 $0.00 $2,513.09 $448,215.61
199 $448,215.61 $1,233.98 $0.00 $2,534.28 $451,983.87
200 $451,983.87 $1,233.98 $0.00 $2,555.58 $455,773.43
201 $455,773.43 $1,233.98 $0.00 $2,577.01 $459,584.42
202 $459,584.42 $1,233.98 $0.00 $2,598.56 $463,416.96
203 $463,416.96 $1,233.98 $0.00 $2,620.23 $467,271.17
204 $467,271.17 $1,233.98 $0.00 $2,642.02 $471,147.17
205 $471,147.17 $1,233.98 $0.00 $2,663.93 $475,045.08
206 $475,045.08 $1,233.98 $0.00 $2,685.97 $478,965.03
207 $478,965.03 $1,233.98 $0.00 $2,708.14 $482,907.15
208 $482,907.15 $1,233.98 $0.00 $2,730.43 $486,871.56
209 $486,871.56 $1,233.98 $0.00 $2,752.84 $490,858.38
210 $490,858.38 $1,233.98 $0.00 $2,775.38 $494,867.74
211 $494,867.74 $1,233.98 $0.00 $2,798.05 $498,899.77
212 $498,899.77 $1,233.98 $0.00 $2,820.85 $502,954.60
213 $502,954.60 $1,233.98 $0.00 $2,843.78 $507,032.36
214 $507,032.36 $1,233.98 $0.00 $2,866.83 $511,133.17
215 $511,133.17 $1,233.98 $0.00 $2,890.02 $515,257.17
216 $515,257.17 $1,233.98 $0.00 $2,913.34 $519,404.49
217 $519,404.49 $1,233.98 $144,671.51 $2,936.79 $378,903.75
218 $378,903.75 $1,233.98 $0.00 $2,142.38 $382,280.11
219 $382,280.11 $1,233.98 $0.00 $2,161.47 $385,675.56
220 $385,675.56 $1,233.98 $0.00 $2,180.67 $389,090.21
221 $389,090.21 $1,233.98 $0.00 $2,199.97 $392,524.16
222 $392,524.16 $1,233.98 $0.00 $2,219.39 $395,977.53
223 $395,977.53 $1,233.98 $0.00 $2,238.91 $399,450.42
224 $399,450.42 $1,233.98 $0.00 $2,258.55 $402,942.95
225 $402,942.95 $1,233.98 $0.00 $2,278.30 $406,455.23
226 $406,455.23 $1,233.98 $0.00 $2,298.16 $409,987.37
227 $409,987.37 $1,233.98 $0.00 $2,318.13 $413,539.48
228 $413,539.48 $1,233.98 $0.00 $2,338.21 $417,111.67
229 $417,111.67 $1,233.98 $151,905.08 $2,358.41 $268,798.98
230 $268,798.98 $1,233.98 $0.00 $1,519.83 $271,552.79
231 $271,552.79 $1,233.98 $0.00 $1,535.40 $274,322.17
232 $274,322.17 $1,233.98 $0.00 $1,551.06 $277,107.21
233 $277,107.21 $1,233.98 $0.00 $1,566.80 $279,907.99
234 $279,907.99 $1,233.98 $0.00 $1,582.64 $282,724.61
235 $282,724.61 $1,233.98 $0.00 $1,598.57 $285,557.16
236 $285,557.16 $1,233.98 $0.00 $1,614.58 $288,405.72
237 $288,405.72 $1,233.98 $0.00 $1,630.69 $291,270.39
238 $291,270.39 $1,233.98 $0.00 $1,646.89 $294,151.26
239 $294,151.26 $1,233.98 $0.00 $1,663.17 $297,048.41
240 $297,048.41 $1,233.98 $0.00 $1,679.55 $299,961.94
241 $299,961.94 $1,233.98 $159,500.34 $1,696.03 $143,391.61
242 $143,391.61 $1,233.98 $0.00 $810.76 $145,436.35
243 $145,436.35 $1,233.98 $0.00 $822.32 $147,492.65
244 $147,492.65 $1,233.98 $0.00 $833.94 $149,560.57
245 $149,560.57 $1,233.98 $0.00 $845.64 $151,640.19
246 $151,640.19 $1,233.98 $0.00 $857.40 $153,731.57
247 $153,731.57 $1,233.98 $0.00 $869.22 $155,834.77
248 $155,834.77 $1,233.98 $0.00 $881.11 $157,949.86
249 $157,949.86 $1,233.98 $0.00 $893.07 $160,076.91
250 $160,076.91 $1,233.98 $0.00 $905.10 $162,215.99
251 $162,215.99 $1,233.98 $0.00 $917.19 $164,367.16
252 $164,367.16 $1,233.98 $0.00 $929.36 $166,530.50
253 $166,530.50 $0.00 $167,475.36 $941.59 ($3.27)