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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$171,427
Monthly savings required$1,357

How much will it cost to send your child to Clarkson University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $685,706.28 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,357.00 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$66,106.00
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 $1,357.00 $0.00 $0.00 $1,357.00
2 $1,357.00 $1,357.00 $0.00 $7.67 $2,721.67
3 $2,721.67 $1,357.00 $0.00 $15.39 $4,094.06
4 $4,094.06 $1,357.00 $0.00 $23.15 $5,474.21
5 $5,474.21 $1,357.00 $0.00 $30.95 $6,862.16
6 $6,862.16 $1,357.00 $0.00 $38.80 $8,257.96
7 $8,257.96 $1,357.00 $0.00 $46.69 $9,661.65
8 $9,661.65 $1,357.00 $0.00 $54.63 $11,073.28
9 $11,073.28 $1,357.00 $0.00 $62.61 $12,492.89
10 $12,492.89 $1,357.00 $0.00 $70.64 $13,920.53
11 $13,920.53 $1,357.00 $0.00 $78.71 $15,356.24
12 $15,356.24 $1,357.00 $0.00 $86.83 $16,800.07
13 $16,800.07 $1,357.00 $0.00 $94.99 $18,252.06
14 $18,252.06 $1,357.00 $0.00 $103.20 $19,712.26
15 $19,712.26 $1,357.00 $0.00 $111.46 $21,180.72
16 $21,180.72 $1,357.00 $0.00 $119.76 $22,657.48
17 $22,657.48 $1,357.00 $0.00 $128.11 $24,142.59
18 $24,142.59 $1,357.00 $0.00 $136.51 $25,636.10
19 $25,636.10 $1,357.00 $0.00 $144.95 $27,138.05
20 $27,138.05 $1,357.00 $0.00 $153.44 $28,648.49
21 $28,648.49 $1,357.00 $0.00 $161.98 $30,167.47
22 $30,167.47 $1,357.00 $0.00 $170.57 $31,695.04
23 $31,695.04 $1,357.00 $0.00 $179.21 $33,231.25
24 $33,231.25 $1,357.00 $0.00 $187.89 $34,776.14
25 $34,776.14 $1,357.00 $0.00 $196.63 $36,329.77
26 $36,329.77 $1,357.00 $0.00 $205.41 $37,892.18
27 $37,892.18 $1,357.00 $0.00 $214.25 $39,463.43
28 $39,463.43 $1,357.00 $0.00 $223.13 $41,043.56
29 $41,043.56 $1,357.00 $0.00 $232.07 $42,632.63
30 $42,632.63 $1,357.00 $0.00 $241.05 $44,230.68
31 $44,230.68 $1,357.00 $0.00 $250.09 $45,837.77
32 $45,837.77 $1,357.00 $0.00 $259.17 $47,453.94
33 $47,453.94 $1,357.00 $0.00 $268.31 $49,079.25
34 $49,079.25 $1,357.00 $0.00 $277.50 $50,713.75
35 $50,713.75 $1,357.00 $0.00 $286.74 $52,357.49
36 $52,357.49 $1,357.00 $0.00 $296.04 $54,010.53
37 $54,010.53 $1,357.00 $0.00 $305.38 $55,672.91
38 $55,672.91 $1,357.00 $0.00 $314.78 $57,344.69
39 $57,344.69 $1,357.00 $0.00 $324.24 $59,025.93
40 $59,025.93 $1,357.00 $0.00 $333.74 $60,716.67
41 $60,716.67 $1,357.00 $0.00 $343.30 $62,416.97
42 $62,416.97 $1,357.00 $0.00 $352.91 $64,126.88
43 $64,126.88 $1,357.00 $0.00 $362.58 $65,846.46
44 $65,846.46 $1,357.00 $0.00 $372.31 $67,575.77
45 $67,575.77 $1,357.00 $0.00 $382.08 $69,314.85
46 $69,314.85 $1,357.00 $0.00 $391.92 $71,063.77
47 $71,063.77 $1,357.00 $0.00 $401.80 $72,822.57
48 $72,822.57 $1,357.00 $0.00 $411.75 $74,591.32
49 $74,591.32 $1,357.00 $0.00 $421.75 $76,370.07
50 $76,370.07 $1,357.00 $0.00 $431.81 $78,158.88
51 $78,158.88 $1,357.00 $0.00 $441.92 $79,957.80
52 $79,957.80 $1,357.00 $0.00 $452.09 $81,766.89
53 $81,766.89 $1,357.00 $0.00 $462.32 $83,586.21
54 $83,586.21 $1,357.00 $0.00 $472.61 $85,415.82
55 $85,415.82 $1,357.00 $0.00 $482.95 $87,255.77
56 $87,255.77 $1,357.00 $0.00 $493.36 $89,106.13
57 $89,106.13 $1,357.00 $0.00 $503.82 $90,966.95
58 $90,966.95 $1,357.00 $0.00 $514.34 $92,838.29
59 $92,838.29 $1,357.00 $0.00 $524.92 $94,720.21
60 $94,720.21 $1,357.00 $0.00 $535.56 $96,612.77
61 $96,612.77 $1,357.00 $0.00 $546.26 $98,516.03
62 $98,516.03 $1,357.00 $0.00 $557.02 $100,430.05
63 $100,430.05 $1,357.00 $0.00 $567.85 $102,354.90
64 $102,354.90 $1,357.00 $0.00 $578.73 $104,290.63
65 $104,290.63 $1,357.00 $0.00 $589.67 $106,237.30
66 $106,237.30 $1,357.00 $0.00 $600.68 $108,194.98
67 $108,194.98 $1,357.00 $0.00 $611.75 $110,163.73
68 $110,163.73 $1,357.00 $0.00 $622.88 $112,143.61
69 $112,143.61 $1,357.00 $0.00 $634.08 $114,134.69
70 $114,134.69 $1,357.00 $0.00 $645.33 $116,137.02
71 $116,137.02 $1,357.00 $0.00 $656.66 $118,150.68
72 $118,150.68 $1,357.00 $0.00 $668.04 $120,175.72
73 $120,175.72 $1,357.00 $0.00 $679.49 $122,212.21
74 $122,212.21 $1,357.00 $0.00 $691.01 $124,260.22
75 $124,260.22 $1,357.00 $0.00 $702.59 $126,319.81
76 $126,319.81 $1,357.00 $0.00 $714.23 $128,391.04
77 $128,391.04 $1,357.00 $0.00 $725.94 $130,473.98
78 $130,473.98 $1,357.00 $0.00 $737.72 $132,568.70
79 $132,568.70 $1,357.00 $0.00 $749.56 $134,675.26
80 $134,675.26 $1,357.00 $0.00 $761.47 $136,793.73
81 $136,793.73 $1,357.00 $0.00 $773.45 $138,924.18
82 $138,924.18 $1,357.00 $0.00 $785.50 $141,066.68
83 $141,066.68 $1,357.00 $0.00 $797.61 $143,221.29
84 $143,221.29 $1,357.00 $0.00 $809.79 $145,388.08
85 $145,388.08 $1,357.00 $0.00 $822.05 $147,567.13
86 $147,567.13 $1,357.00 $0.00 $834.37 $149,758.50
87 $149,758.50 $1,357.00 $0.00 $846.76 $151,962.26
88 $151,962.26 $1,357.00 $0.00 $859.22 $154,178.48
89 $154,178.48 $1,357.00 $0.00 $871.75 $156,407.23
90 $156,407.23 $1,357.00 $0.00 $884.35 $158,648.58
91 $158,648.58 $1,357.00 $0.00 $897.02 $160,902.60
92 $160,902.60 $1,357.00 $0.00 $909.77 $163,169.37
93 $163,169.37 $1,357.00 $0.00 $922.58 $165,448.95
94 $165,448.95 $1,357.00 $0.00 $935.47 $167,741.42
95 $167,741.42 $1,357.00 $0.00 $948.43 $170,046.85
96 $170,046.85 $1,357.00 $0.00 $961.47 $172,365.32
97 $172,365.32 $1,357.00 $0.00 $974.58 $174,696.90
98 $174,696.90 $1,357.00 $0.00 $987.76 $177,041.66
99 $177,041.66 $1,357.00 $0.00 $1,001.02 $179,399.68
100 $179,399.68 $1,357.00 $0.00 $1,014.35 $181,771.03
101 $181,771.03 $1,357.00 $0.00 $1,027.76 $184,155.79
102 $184,155.79 $1,357.00 $0.00 $1,041.24 $186,554.03
103 $186,554.03 $1,357.00 $0.00 $1,054.80 $188,965.83
104 $188,965.83 $1,357.00 $0.00 $1,068.44 $191,391.27
105 $191,391.27 $1,357.00 $0.00 $1,082.15 $193,830.42
106 $193,830.42 $1,357.00 $0.00 $1,095.95 $196,283.37
107 $196,283.37 $1,357.00 $0.00 $1,109.81 $198,750.18
108 $198,750.18 $1,357.00 $0.00 $1,123.76 $201,230.94
109 $201,230.94 $1,357.00 $0.00 $1,137.79 $203,725.73
110 $203,725.73 $1,357.00 $0.00 $1,151.89 $206,234.62
111 $206,234.62 $1,357.00 $0.00 $1,166.08 $208,757.70
112 $208,757.70 $1,357.00 $0.00 $1,180.35 $211,295.05
113 $211,295.05 $1,357.00 $0.00 $1,194.69 $213,846.74
114 $213,846.74 $1,357.00 $0.00 $1,209.12 $216,412.86
115 $216,412.86 $1,357.00 $0.00 $1,223.63 $218,993.49
116 $218,993.49 $1,357.00 $0.00 $1,238.22 $221,588.71
117 $221,588.71 $1,357.00 $0.00 $1,252.89 $224,198.60
118 $224,198.60 $1,357.00 $0.00 $1,267.65 $226,823.25
119 $226,823.25 $1,357.00 $0.00 $1,282.49 $229,462.74
120 $229,462.74 $1,357.00 $0.00 $1,297.42 $232,117.16
121 $232,117.16 $1,357.00 $0.00 $1,312.42 $234,786.58
122 $234,786.58 $1,357.00 $0.00 $1,327.52 $237,471.10
123 $237,471.10 $1,357.00 $0.00 $1,342.70 $240,170.80
124 $240,170.80 $1,357.00 $0.00 $1,357.96 $242,885.76
125 $242,885.76 $1,357.00 $0.00 $1,373.31 $245,616.07
126 $245,616.07 $1,357.00 $0.00 $1,388.75 $248,361.82
127 $248,361.82 $1,357.00 $0.00 $1,404.27 $251,123.09
128 $251,123.09 $1,357.00 $0.00 $1,419.89 $253,899.98
129 $253,899.98 $1,357.00 $0.00 $1,435.59 $256,692.57
130 $256,692.57 $1,357.00 $0.00 $1,451.38 $259,500.95
131 $259,500.95 $1,357.00 $0.00 $1,467.26 $262,325.21
132 $262,325.21 $1,357.00 $0.00 $1,483.22 $265,165.43
133 $265,165.43 $1,357.00 $0.00 $1,499.28 $268,021.71
134 $268,021.71 $1,357.00 $0.00 $1,515.43 $270,894.14
135 $270,894.14 $1,357.00 $0.00 $1,531.67 $273,782.81
136 $273,782.81 $1,357.00 $0.00 $1,548.01 $276,687.82
137 $276,687.82 $1,357.00 $0.00 $1,564.43 $279,609.25
138 $279,609.25 $1,357.00 $0.00 $1,580.95 $282,547.20
139 $282,547.20 $1,357.00 $0.00 $1,597.56 $285,501.76
140 $285,501.76 $1,357.00 $0.00 $1,614.27 $288,473.03
141 $288,473.03 $1,357.00 $0.00 $1,631.07 $291,461.10
142 $291,461.10 $1,357.00 $0.00 $1,647.96 $294,466.06
143 $294,466.06 $1,357.00 $0.00 $1,664.95 $297,488.01
144 $297,488.01 $1,357.00 $0.00 $1,682.04 $300,527.05
145 $300,527.05 $1,357.00 $0.00 $1,699.22 $303,583.27
146 $303,583.27 $1,357.00 $0.00 $1,716.50 $306,656.77
147 $306,656.77 $1,357.00 $0.00 $1,733.88 $309,747.65
148 $309,747.65 $1,357.00 $0.00 $1,751.36 $312,856.01
149 $312,856.01 $1,357.00 $0.00 $1,768.93 $315,981.94
150 $315,981.94 $1,357.00 $0.00 $1,786.61 $319,125.55
151 $319,125.55 $1,357.00 $0.00 $1,804.38 $322,286.93
152 $322,286.93 $1,357.00 $0.00 $1,822.26 $325,466.19
153 $325,466.19 $1,357.00 $0.00 $1,840.23 $328,663.42
154 $328,663.42 $1,357.00 $0.00 $1,858.31 $331,878.73
155 $331,878.73 $1,357.00 $0.00 $1,876.49 $335,112.22
156 $335,112.22 $1,357.00 $0.00 $1,894.77 $338,363.99
157 $338,363.99 $1,357.00 $0.00 $1,913.16 $341,634.15
158 $341,634.15 $1,357.00 $0.00 $1,931.65 $344,922.80
159 $344,922.80 $1,357.00 $0.00 $1,950.24 $348,230.04
160 $348,230.04 $1,357.00 $0.00 $1,968.94 $351,555.98
161 $351,555.98 $1,357.00 $0.00 $1,987.75 $354,900.73
162 $354,900.73 $1,357.00 $0.00 $2,006.66 $358,264.39
163 $358,264.39 $1,357.00 $0.00 $2,025.68 $361,647.07
164 $361,647.07 $1,357.00 $0.00 $2,044.81 $365,048.88
165 $365,048.88 $1,357.00 $0.00 $2,064.04 $368,469.92
166 $368,469.92 $1,357.00 $0.00 $2,083.38 $371,910.30
167 $371,910.30 $1,357.00 $0.00 $2,102.83 $375,370.13
168 $375,370.13 $1,357.00 $0.00 $2,122.40 $378,849.53
169 $378,849.53 $1,357.00 $0.00 $2,142.07 $382,348.60
170 $382,348.60 $1,357.00 $0.00 $2,161.85 $385,867.45
171 $385,867.45 $1,357.00 $0.00 $2,181.75 $389,406.20
172 $389,406.20 $1,357.00 $0.00 $2,201.76 $392,964.96
173 $392,964.96 $1,357.00 $0.00 $2,221.88 $396,543.84
174 $396,543.84 $1,357.00 $0.00 $2,242.12 $400,142.96
175 $400,142.96 $1,357.00 $0.00 $2,262.47 $403,762.43
176 $403,762.43 $1,357.00 $0.00 $2,282.93 $407,402.36
177 $407,402.36 $1,357.00 $0.00 $2,303.51 $411,062.87
178 $411,062.87 $1,357.00 $0.00 $2,324.21 $414,744.08
179 $414,744.08 $1,357.00 $0.00 $2,345.02 $418,446.10
180 $418,446.10 $1,357.00 $0.00 $2,365.96 $422,169.06
181 $422,169.06 $1,357.00 $0.00 $2,387.01 $425,913.07
182 $425,913.07 $1,357.00 $0.00 $2,408.17 $429,678.24
183 $429,678.24 $1,357.00 $0.00 $2,429.46 $433,464.70
184 $433,464.70 $1,357.00 $0.00 $2,450.87 $437,272.57
185 $437,272.57 $1,357.00 $0.00 $2,472.40 $441,101.97
186 $441,101.97 $1,357.00 $0.00 $2,494.05 $444,953.02
187 $444,953.02 $1,357.00 $0.00 $2,515.83 $448,825.85
188 $448,825.85 $1,357.00 $0.00 $2,537.73 $452,720.58
189 $452,720.58 $1,357.00 $0.00 $2,559.75 $456,637.33
190 $456,637.33 $1,357.00 $0.00 $2,581.89 $460,576.22
191 $460,576.22 $1,357.00 $0.00 $2,604.16 $464,537.38
192 $464,537.38 $1,357.00 $0.00 $2,626.56 $468,520.94
193 $468,520.94 $1,357.00 $0.00 $2,649.09 $472,527.03
194 $472,527.03 $1,357.00 $0.00 $2,671.74 $476,555.77
195 $476,555.77 $1,357.00 $0.00 $2,694.52 $480,607.29
196 $480,607.29 $1,357.00 $0.00 $2,717.42 $484,681.71
197 $484,681.71 $1,357.00 $0.00 $2,740.46 $488,779.17
198 $488,779.17 $1,357.00 $0.00 $2,763.63 $492,899.80
199 $492,899.80 $1,357.00 $0.00 $2,786.93 $497,043.73
200 $497,043.73 $1,357.00 $0.00 $2,810.36 $501,211.09
201 $501,211.09 $1,357.00 $0.00 $2,833.92 $505,402.01
202 $505,402.01 $1,357.00 $0.00 $2,857.62 $509,616.63
203 $509,616.63 $1,357.00 $0.00 $2,881.45 $513,855.08
204 $513,855.08 $1,357.00 $0.00 $2,905.41 $518,117.49
205 $518,117.49 $1,357.00 $0.00 $2,929.51 $522,404.00
206 $522,404.00 $1,357.00 $0.00 $2,953.75 $526,714.75
207 $526,714.75 $1,357.00 $0.00 $2,978.12 $531,049.87
208 $531,049.87 $1,357.00 $0.00 $3,002.63 $535,409.50
209 $535,409.50 $1,357.00 $0.00 $3,027.28 $539,793.78
210 $539,793.78 $1,357.00 $0.00 $3,052.07 $544,202.85
211 $544,202.85 $1,357.00 $0.00 $3,077.00 $548,636.85
212 $548,636.85 $1,357.00 $0.00 $3,102.07 $553,095.92
213 $553,095.92 $1,357.00 $0.00 $3,127.28 $557,580.20
214 $557,580.20 $1,357.00 $0.00 $3,152.64 $562,089.84
215 $562,089.84 $1,357.00 $0.00 $3,178.14 $566,624.98
216 $566,624.98 $1,357.00 $0.00 $3,203.78 $571,185.76
217 $571,185.76 $1,357.00 $159,091.97 $3,229.57 $416,680.36
218 $416,680.36 $1,357.00 $0.00 $2,355.97 $420,393.33
219 $420,393.33 $1,357.00 $0.00 $2,376.97 $424,127.30
220 $424,127.30 $1,357.00 $0.00 $2,398.08 $427,882.38
221 $427,882.38 $1,357.00 $0.00 $2,419.31 $431,658.69
222 $431,658.69 $1,357.00 $0.00 $2,440.66 $435,456.35
223 $435,456.35 $1,357.00 $0.00 $2,462.13 $439,275.48
224 $439,275.48 $1,357.00 $0.00 $2,483.73 $443,116.21
225 $443,116.21 $1,357.00 $0.00 $2,505.44 $446,978.65
226 $446,978.65 $1,357.00 $0.00 $2,527.28 $450,862.93
227 $450,862.93 $1,357.00 $0.00 $2,549.24 $454,769.17
228 $454,769.17 $1,357.00 $0.00 $2,571.33 $458,697.50
229 $458,697.50 $1,357.00 $167,046.57 $2,593.54 $295,601.47
230 $295,601.47 $1,357.00 $0.00 $1,671.37 $298,629.84
231 $298,629.84 $1,357.00 $0.00 $1,688.50 $301,675.34
232 $301,675.34 $1,357.00 $0.00 $1,705.72 $304,738.06
233 $304,738.06 $1,357.00 $0.00 $1,723.03 $307,818.09
234 $307,818.09 $1,357.00 $0.00 $1,740.45 $310,915.54
235 $310,915.54 $1,357.00 $0.00 $1,757.96 $314,030.50
236 $314,030.50 $1,357.00 $0.00 $1,775.57 $317,163.07
237 $317,163.07 $1,357.00 $0.00 $1,793.29 $320,313.36
238 $320,313.36 $1,357.00 $0.00 $1,811.10 $323,481.46
239 $323,481.46 $1,357.00 $0.00 $1,829.01 $326,667.47
240 $326,667.47 $1,357.00 $0.00 $1,847.03 $329,871.50
241 $329,871.50 $1,357.00 $175,398.90 $1,865.14 $157,694.74
242 $157,694.74 $1,357.00 $0.00 $891.63 $159,943.37
243 $159,943.37 $1,357.00 $0.00 $904.34 $162,204.71
244 $162,204.71 $1,357.00 $0.00 $917.13 $164,478.84
245 $164,478.84 $1,357.00 $0.00 $929.99 $166,765.83
246 $166,765.83 $1,357.00 $0.00 $942.92 $169,065.75
247 $169,065.75 $1,357.00 $0.00 $955.92 $171,378.67
248 $171,378.67 $1,357.00 $0.00 $969.00 $173,704.67
249 $173,704.67 $1,357.00 $0.00 $982.15 $176,043.82
250 $176,043.82 $1,357.00 $0.00 $995.38 $178,396.20
251 $178,396.20 $1,357.00 $0.00 $1,008.68 $180,761.88
252 $180,761.88 $1,357.00 $0.00 $1,022.05 $183,140.93
253 $183,140.93 $0.00 $184,168.84 $1,035.51 $7.60