Savings Plan and Future Cost Estimation for Alfred University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$204,857
Monthly savings required$1,619

How much will it cost to send your child to Alfred University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $819,426.21 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,619.03 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$54,604.00
Years until enrollment18
Annual Tuition Increase7%
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 $1,619.03 $0.00 $0.00 $1,619.03
2 $1,619.03 $1,619.03 $0.00 $9.15 $3,247.21
3 $3,247.21 $1,619.03 $0.00 $18.36 $4,884.60
4 $4,884.60 $1,619.03 $0.00 $27.62 $6,531.25
5 $6,531.25 $1,619.03 $0.00 $36.93 $8,187.21
6 $8,187.21 $1,619.03 $0.00 $46.29 $9,852.53
7 $9,852.53 $1,619.03 $0.00 $55.71 $11,527.27
8 $11,527.27 $1,619.03 $0.00 $65.18 $13,211.48
9 $13,211.48 $1,619.03 $0.00 $74.70 $14,905.21
10 $14,905.21 $1,619.03 $0.00 $84.28 $16,608.52
11 $16,608.52 $1,619.03 $0.00 $93.91 $18,321.46
12 $18,321.46 $1,619.03 $0.00 $103.59 $20,044.08
13 $20,044.08 $1,619.03 $0.00 $113.33 $21,776.44
14 $21,776.44 $1,619.03 $0.00 $123.13 $23,518.60
15 $23,518.60 $1,619.03 $0.00 $132.98 $25,270.61
16 $25,270.61 $1,619.03 $0.00 $142.88 $27,032.52
17 $27,032.52 $1,619.03 $0.00 $152.85 $28,804.40
18 $28,804.40 $1,619.03 $0.00 $162.86 $30,586.29
19 $30,586.29 $1,619.03 $0.00 $172.94 $32,378.26
20 $32,378.26 $1,619.03 $0.00 $183.07 $34,180.36
21 $34,180.36 $1,619.03 $0.00 $193.26 $35,992.65
22 $35,992.65 $1,619.03 $0.00 $203.51 $37,815.19
23 $37,815.19 $1,619.03 $0.00 $213.81 $39,648.03
24 $39,648.03 $1,619.03 $0.00 $224.18 $41,491.24
25 $41,491.24 $1,619.03 $0.00 $234.60 $43,344.87
26 $43,344.87 $1,619.03 $0.00 $245.08 $45,208.98
27 $45,208.98 $1,619.03 $0.00 $255.62 $47,083.63
28 $47,083.63 $1,619.03 $0.00 $266.22 $48,968.88
29 $48,968.88 $1,619.03 $0.00 $276.88 $50,864.79
30 $50,864.79 $1,619.03 $0.00 $287.60 $52,771.42
31 $52,771.42 $1,619.03 $0.00 $298.38 $54,688.83
32 $54,688.83 $1,619.03 $0.00 $309.22 $56,617.08
33 $56,617.08 $1,619.03 $0.00 $320.12 $58,556.23
34 $58,556.23 $1,619.03 $0.00 $331.09 $60,506.35
35 $60,506.35 $1,619.03 $0.00 $342.11 $62,467.49
36 $62,467.49 $1,619.03 $0.00 $353.20 $64,439.72
37 $64,439.72 $1,619.03 $0.00 $364.35 $66,423.10
38 $66,423.10 $1,619.03 $0.00 $375.57 $68,417.70
39 $68,417.70 $1,619.03 $0.00 $386.84 $70,423.57
40 $70,423.57 $1,619.03 $0.00 $398.19 $72,440.79
41 $72,440.79 $1,619.03 $0.00 $409.59 $74,469.41
42 $74,469.41 $1,619.03 $0.00 $421.06 $76,509.50
43 $76,509.50 $1,619.03 $0.00 $432.60 $78,561.13
44 $78,561.13 $1,619.03 $0.00 $444.20 $80,624.36
45 $80,624.36 $1,619.03 $0.00 $455.86 $82,699.25
46 $82,699.25 $1,619.03 $0.00 $467.59 $84,785.87
47 $84,785.87 $1,619.03 $0.00 $479.39 $86,884.29
48 $86,884.29 $1,619.03 $0.00 $491.26 $88,994.58
49 $88,994.58 $1,619.03 $0.00 $503.19 $91,116.80
50 $91,116.80 $1,619.03 $0.00 $515.19 $93,251.02
51 $93,251.02 $1,619.03 $0.00 $527.25 $95,397.30
52 $95,397.30 $1,619.03 $0.00 $539.39 $97,555.72
53 $97,555.72 $1,619.03 $0.00 $551.59 $99,726.34
54 $99,726.34 $1,619.03 $0.00 $563.87 $101,909.24
55 $101,909.24 $1,619.03 $0.00 $576.21 $104,104.48
56 $104,104.48 $1,619.03 $0.00 $588.62 $106,312.13
57 $106,312.13 $1,619.03 $0.00 $601.10 $108,532.26
58 $108,532.26 $1,619.03 $0.00 $613.66 $110,764.95
59 $110,764.95 $1,619.03 $0.00 $626.28 $113,010.26
60 $113,010.26 $1,619.03 $0.00 $638.98 $115,268.27
61 $115,268.27 $1,619.03 $0.00 $651.74 $117,539.04
62 $117,539.04 $1,619.03 $0.00 $664.58 $119,822.65
63 $119,822.65 $1,619.03 $0.00 $677.49 $122,119.17
64 $122,119.17 $1,619.03 $0.00 $690.48 $124,428.68
65 $124,428.68 $1,619.03 $0.00 $703.54 $126,751.25
66 $126,751.25 $1,619.03 $0.00 $716.67 $129,086.95
67 $129,086.95 $1,619.03 $0.00 $729.88 $131,435.86
68 $131,435.86 $1,619.03 $0.00 $743.16 $133,798.05
69 $133,798.05 $1,619.03 $0.00 $756.51 $136,173.59
70 $136,173.59 $1,619.03 $0.00 $769.95 $138,562.57
71 $138,562.57 $1,619.03 $0.00 $783.45 $140,965.05
72 $140,965.05 $1,619.03 $0.00 $797.04 $143,381.12
73 $143,381.12 $1,619.03 $0.00 $810.70 $145,810.85
74 $145,810.85 $1,619.03 $0.00 $824.44 $148,254.32
75 $148,254.32 $1,619.03 $0.00 $838.25 $150,711.60
76 $150,711.60 $1,619.03 $0.00 $852.15 $153,182.78
77 $153,182.78 $1,619.03 $0.00 $866.12 $155,667.93
78 $155,667.93 $1,619.03 $0.00 $880.17 $158,167.13
79 $158,167.13 $1,619.03 $0.00 $894.30 $160,680.46
80 $160,680.46 $1,619.03 $0.00 $908.51 $163,208.00
81 $163,208.00 $1,619.03 $0.00 $922.80 $165,749.83
82 $165,749.83 $1,619.03 $0.00 $937.17 $168,306.03
83 $168,306.03 $1,619.03 $0.00 $951.63 $170,876.69
84 $170,876.69 $1,619.03 $0.00 $966.16 $173,461.88
85 $173,461.88 $1,619.03 $0.00 $980.78 $176,061.69
86 $176,061.69 $1,619.03 $0.00 $995.48 $178,676.20
87 $178,676.20 $1,619.03 $0.00 $1,010.26 $181,305.49
88 $181,305.49 $1,619.03 $0.00 $1,025.13 $183,949.65
89 $183,949.65 $1,619.03 $0.00 $1,040.08 $186,608.76
90 $186,608.76 $1,619.03 $0.00 $1,055.11 $189,282.90
91 $189,282.90 $1,619.03 $0.00 $1,070.23 $191,972.16
92 $191,972.16 $1,619.03 $0.00 $1,085.44 $194,676.63
93 $194,676.63 $1,619.03 $0.00 $1,100.73 $197,396.39
94 $197,396.39 $1,619.03 $0.00 $1,116.11 $200,131.53
95 $200,131.53 $1,619.03 $0.00 $1,131.57 $202,882.13
96 $202,882.13 $1,619.03 $0.00 $1,147.13 $205,648.29
97 $205,648.29 $1,619.03 $0.00 $1,162.77 $208,430.09
98 $208,430.09 $1,619.03 $0.00 $1,178.49 $211,227.61
99 $211,227.61 $1,619.03 $0.00 $1,194.31 $214,040.95
100 $214,040.95 $1,619.03 $0.00 $1,210.22 $216,870.20
101 $216,870.20 $1,619.03 $0.00 $1,226.22 $219,715.45
102 $219,715.45 $1,619.03 $0.00 $1,242.30 $222,576.78
103 $222,576.78 $1,619.03 $0.00 $1,258.48 $225,454.29
104 $225,454.29 $1,619.03 $0.00 $1,274.75 $228,348.07
105 $228,348.07 $1,619.03 $0.00 $1,291.11 $231,258.21
106 $231,258.21 $1,619.03 $0.00 $1,307.57 $234,184.81
107 $234,184.81 $1,619.03 $0.00 $1,324.11 $237,127.95
108 $237,127.95 $1,619.03 $0.00 $1,340.76 $240,087.74
109 $240,087.74 $1,619.03 $0.00 $1,357.49 $243,064.26
110 $243,064.26 $1,619.03 $0.00 $1,374.32 $246,057.61
111 $246,057.61 $1,619.03 $0.00 $1,391.25 $249,067.89
112 $249,067.89 $1,619.03 $0.00 $1,408.27 $252,095.19
113 $252,095.19 $1,619.03 $0.00 $1,425.38 $255,139.60
114 $255,139.60 $1,619.03 $0.00 $1,442.60 $258,201.23
115 $258,201.23 $1,619.03 $0.00 $1,459.91 $261,280.17
116 $261,280.17 $1,619.03 $0.00 $1,477.32 $264,376.52
117 $264,376.52 $1,619.03 $0.00 $1,494.82 $267,490.37
118 $267,490.37 $1,619.03 $0.00 $1,512.43 $270,621.83
119 $270,621.83 $1,619.03 $0.00 $1,530.14 $273,771.00
120 $273,771.00 $1,619.03 $0.00 $1,547.94 $276,937.97
121 $276,937.97 $1,619.03 $0.00 $1,565.85 $280,122.85
122 $280,122.85 $1,619.03 $0.00 $1,583.86 $283,325.74
123 $283,325.74 $1,619.03 $0.00 $1,601.96 $286,546.73
124 $286,546.73 $1,619.03 $0.00 $1,620.18 $289,785.94
125 $289,785.94 $1,619.03 $0.00 $1,638.49 $293,043.46
126 $293,043.46 $1,619.03 $0.00 $1,656.91 $296,319.40
127 $296,319.40 $1,619.03 $0.00 $1,675.43 $299,613.86
128 $299,613.86 $1,619.03 $0.00 $1,694.06 $302,926.95
129 $302,926.95 $1,619.03 $0.00 $1,712.79 $306,258.77
130 $306,258.77 $1,619.03 $0.00 $1,731.63 $309,609.43
131 $309,609.43 $1,619.03 $0.00 $1,750.58 $312,979.04
132 $312,979.04 $1,619.03 $0.00 $1,769.63 $316,367.70
133 $316,367.70 $1,619.03 $0.00 $1,788.79 $319,775.52
134 $319,775.52 $1,619.03 $0.00 $1,808.06 $323,202.61
135 $323,202.61 $1,619.03 $0.00 $1,827.43 $326,649.07
136 $326,649.07 $1,619.03 $0.00 $1,846.92 $330,115.02
137 $330,115.02 $1,619.03 $0.00 $1,866.52 $333,600.57
138 $333,600.57 $1,619.03 $0.00 $1,886.23 $337,105.83
139 $337,105.83 $1,619.03 $0.00 $1,906.05 $340,630.91
140 $340,630.91 $1,619.03 $0.00 $1,925.98 $344,175.92
141 $344,175.92 $1,619.03 $0.00 $1,946.02 $347,740.97
142 $347,740.97 $1,619.03 $0.00 $1,966.18 $351,326.18
143 $351,326.18 $1,619.03 $0.00 $1,986.45 $354,931.66
144 $354,931.66 $1,619.03 $0.00 $2,006.84 $358,557.53
145 $358,557.53 $1,619.03 $0.00 $2,027.34 $362,203.90
146 $362,203.90 $1,619.03 $0.00 $2,047.95 $365,870.88
147 $365,870.88 $1,619.03 $0.00 $2,068.69 $369,558.60
148 $369,558.60 $1,619.03 $0.00 $2,089.54 $373,267.17
149 $373,267.17 $1,619.03 $0.00 $2,110.51 $376,996.71
150 $376,996.71 $1,619.03 $0.00 $2,131.59 $380,747.33
151 $380,747.33 $1,619.03 $0.00 $2,152.80 $384,519.16
152 $384,519.16 $1,619.03 $0.00 $2,174.13 $388,312.32
153 $388,312.32 $1,619.03 $0.00 $2,195.57 $392,126.92
154 $392,126.92 $1,619.03 $0.00 $2,217.14 $395,963.09
155 $395,963.09 $1,619.03 $0.00 $2,238.83 $399,820.95
156 $399,820.95 $1,619.03 $0.00 $2,260.65 $403,700.63
157 $403,700.63 $1,619.03 $0.00 $2,282.58 $407,602.24
158 $407,602.24 $1,619.03 $0.00 $2,304.64 $411,525.91
159 $411,525.91 $1,619.03 $0.00 $2,326.83 $415,471.77
160 $415,471.77 $1,619.03 $0.00 $2,349.14 $419,439.94
161 $419,439.94 $1,619.03 $0.00 $2,371.57 $423,430.54
162 $423,430.54 $1,619.03 $0.00 $2,394.14 $427,443.71
163 $427,443.71 $1,619.03 $0.00 $2,416.83 $431,479.57
164 $431,479.57 $1,619.03 $0.00 $2,439.65 $435,538.25
165 $435,538.25 $1,619.03 $0.00 $2,462.60 $439,619.88
166 $439,619.88 $1,619.03 $0.00 $2,485.67 $443,724.58
167 $443,724.58 $1,619.03 $0.00 $2,508.88 $447,852.49
168 $447,852.49 $1,619.03 $0.00 $2,532.22 $452,003.74
169 $452,003.74 $1,619.03 $0.00 $2,555.69 $456,178.46
170 $456,178.46 $1,619.03 $0.00 $2,579.30 $460,376.79
171 $460,376.79 $1,619.03 $0.00 $2,603.04 $464,598.86
172 $464,598.86 $1,619.03 $0.00 $2,626.91 $468,844.80
173 $468,844.80 $1,619.03 $0.00 $2,650.92 $473,114.75
174 $473,114.75 $1,619.03 $0.00 $2,675.06 $477,408.84
175 $477,408.84 $1,619.03 $0.00 $2,699.34 $481,727.21
176 $481,727.21 $1,619.03 $0.00 $2,723.76 $486,070.00
177 $486,070.00 $1,619.03 $0.00 $2,748.31 $490,437.34
178 $490,437.34 $1,619.03 $0.00 $2,773.00 $494,829.37
179 $494,829.37 $1,619.03 $0.00 $2,797.84 $499,246.24
180 $499,246.24 $1,619.03 $0.00 $2,822.81 $503,688.08
181 $503,688.08 $1,619.03 $0.00 $2,847.93 $508,155.04
182 $508,155.04 $1,619.03 $0.00 $2,873.18 $512,647.25
183 $512,647.25 $1,619.03 $0.00 $2,898.58 $517,164.86
184 $517,164.86 $1,619.03 $0.00 $2,924.13 $521,708.02
185 $521,708.02 $1,619.03 $0.00 $2,949.81 $526,276.86
186 $526,276.86 $1,619.03 $0.00 $2,975.65 $530,871.54
187 $530,871.54 $1,619.03 $0.00 $3,001.62 $535,492.19
188 $535,492.19 $1,619.03 $0.00 $3,027.75 $540,138.97
189 $540,138.97 $1,619.03 $0.00 $3,054.02 $544,812.02
190 $544,812.02 $1,619.03 $0.00 $3,080.45 $549,511.50
191 $549,511.50 $1,619.03 $0.00 $3,107.02 $554,237.55
192 $554,237.55 $1,619.03 $0.00 $3,133.74 $558,990.32
193 $558,990.32 $1,619.03 $0.00 $3,160.61 $563,769.96
194 $563,769.96 $1,619.03 $0.00 $3,187.64 $568,576.63
195 $568,576.63 $1,619.03 $0.00 $3,214.81 $573,410.47
196 $573,410.47 $1,619.03 $0.00 $3,242.15 $578,271.65
197 $578,271.65 $1,619.03 $0.00 $3,269.63 $583,160.31
198 $583,160.31 $1,619.03 $0.00 $3,297.27 $588,076.61
199 $588,076.61 $1,619.03 $0.00 $3,325.07 $593,020.71
200 $593,020.71 $1,619.03 $0.00 $3,353.03 $597,992.77
201 $597,992.77 $1,619.03 $0.00 $3,381.14 $602,992.94
202 $602,992.94 $1,619.03 $0.00 $3,409.41 $608,021.38
203 $608,021.38 $1,619.03 $0.00 $3,437.84 $613,078.25
204 $613,078.25 $1,619.03 $0.00 $3,466.43 $618,163.71
205 $618,163.71 $1,619.03 $0.00 $3,495.19 $623,277.93
206 $623,277.93 $1,619.03 $0.00 $3,524.10 $628,421.06
207 $628,421.06 $1,619.03 $0.00 $3,553.18 $633,593.27
208 $633,593.27 $1,619.03 $0.00 $3,582.43 $638,794.73
209 $638,794.73 $1,619.03 $0.00 $3,611.84 $644,025.60
210 $644,025.60 $1,619.03 $0.00 $3,641.41 $649,286.04
211 $649,286.04 $1,619.03 $0.00 $3,671.16 $654,576.23
212 $654,576.23 $1,619.03 $0.00 $3,701.07 $659,896.33
213 $659,896.33 $1,619.03 $0.00 $3,731.15 $665,246.51
214 $665,246.51 $1,619.03 $0.00 $3,761.40 $670,626.94
215 $670,626.94 $1,619.03 $0.00 $3,791.82 $676,037.79
216 $676,037.79 $1,619.03 $0.00 $3,822.42 $681,479.24
217 $681,479.24 $1,619.03 $184,557.82 $3,853.18 $502,393.63
218 $502,393.63 $1,619.03 $0.00 $2,840.61 $506,853.27
219 $506,853.27 $1,619.03 $0.00 $2,865.82 $511,338.12
220 $511,338.12 $1,619.03 $0.00 $2,891.18 $515,848.33
221 $515,848.33 $1,619.03 $0.00 $2,916.68 $520,384.04
222 $520,384.04 $1,619.03 $0.00 $2,942.33 $524,945.40
223 $524,945.40 $1,619.03 $0.00 $2,968.12 $529,532.55
224 $529,532.55 $1,619.03 $0.00 $2,994.05 $534,145.63
225 $534,145.63 $1,619.03 $0.00 $3,020.14 $538,784.80
226 $538,784.80 $1,619.03 $0.00 $3,046.37 $543,450.20
227 $543,450.20 $1,619.03 $0.00 $3,072.75 $548,141.98
228 $548,141.98 $1,619.03 $0.00 $3,099.27 $552,860.28
229 $552,860.28 $1,619.03 $197,476.87 $3,125.95 $360,128.39
230 $360,128.39 $1,619.03 $0.00 $2,036.22 $363,783.64
231 $363,783.64 $1,619.03 $0.00 $2,056.89 $367,459.56
232 $367,459.56 $1,619.03 $0.00 $2,077.67 $371,156.26
233 $371,156.26 $1,619.03 $0.00 $2,098.57 $374,873.86
234 $374,873.86 $1,619.03 $0.00 $2,119.59 $378,612.48
235 $378,612.48 $1,619.03 $0.00 $2,140.73 $382,372.24
236 $382,372.24 $1,619.03 $0.00 $2,161.99 $386,153.26
237 $386,153.26 $1,619.03 $0.00 $2,183.37 $389,955.66
238 $389,955.66 $1,619.03 $0.00 $2,204.87 $393,779.56
239 $393,779.56 $1,619.03 $0.00 $2,226.49 $397,625.08
240 $397,625.08 $1,619.03 $0.00 $2,248.23 $401,492.34
241 $401,492.34 $1,619.03 $211,300.25 $2,270.10 $194,081.22
242 $194,081.22 $1,619.03 $0.00 $1,097.36 $196,797.61
243 $196,797.61 $1,619.03 $0.00 $1,112.72 $199,529.36
244 $199,529.36 $1,619.03 $0.00 $1,128.17 $202,276.56
245 $202,276.56 $1,619.03 $0.00 $1,143.70 $205,039.29
246 $205,039.29 $1,619.03 $0.00 $1,159.32 $207,817.64
247 $207,817.64 $1,619.03 $0.00 $1,175.03 $210,611.70
248 $210,611.70 $1,619.03 $0.00 $1,190.83 $213,421.56
249 $213,421.56 $1,619.03 $0.00 $1,206.72 $216,247.31
250 $216,247.31 $1,619.03 $0.00 $1,222.69 $219,089.03
251 $219,089.03 $1,619.03 $0.00 $1,238.76 $221,946.82
252 $221,946.82 $1,619.03 $0.00 $1,254.92 $224,820.77
253 $224,820.77 $0.00 $226,091.27 $1,271.17 $0.67