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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$191,648
Monthly savings required$1,517

How much will it cost to send your child to Cornell University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $766,593.61 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,517.05 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$73,904.00
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 $1,517.05 $0.00 $0.00 $1,517.05
2 $1,517.05 $1,517.05 $0.00 $8.58 $3,042.68
3 $3,042.68 $1,517.05 $0.00 $17.20 $4,576.93
4 $4,576.93 $1,517.05 $0.00 $25.88 $6,119.86
5 $6,119.86 $1,517.05 $0.00 $34.60 $7,671.51
6 $7,671.51 $1,517.05 $0.00 $43.38 $9,231.94
7 $9,231.94 $1,517.05 $0.00 $52.20 $10,801.19
8 $10,801.19 $1,517.05 $0.00 $61.07 $12,379.31
9 $12,379.31 $1,517.05 $0.00 $69.99 $13,966.35
10 $13,966.35 $1,517.05 $0.00 $78.97 $15,562.37
11 $15,562.37 $1,517.05 $0.00 $87.99 $17,167.41
12 $17,167.41 $1,517.05 $0.00 $97.07 $18,781.53
13 $18,781.53 $1,517.05 $0.00 $106.19 $20,404.77
14 $20,404.77 $1,517.05 $0.00 $115.37 $22,037.19
15 $22,037.19 $1,517.05 $0.00 $124.60 $23,678.84
16 $23,678.84 $1,517.05 $0.00 $133.88 $25,329.77
17 $25,329.77 $1,517.05 $0.00 $143.22 $26,990.04
18 $26,990.04 $1,517.05 $0.00 $152.61 $28,659.70
19 $28,659.70 $1,517.05 $0.00 $162.05 $30,338.80
20 $30,338.80 $1,517.05 $0.00 $171.54 $32,027.39
21 $32,027.39 $1,517.05 $0.00 $181.09 $33,725.53
22 $33,725.53 $1,517.05 $0.00 $190.69 $35,433.27
23 $35,433.27 $1,517.05 $0.00 $200.34 $37,150.66
24 $37,150.66 $1,517.05 $0.00 $210.06 $38,877.77
25 $38,877.77 $1,517.05 $0.00 $219.82 $40,614.64
26 $40,614.64 $1,517.05 $0.00 $229.64 $42,361.33
27 $42,361.33 $1,517.05 $0.00 $239.52 $44,117.90
28 $44,117.90 $1,517.05 $0.00 $249.45 $45,884.40
29 $45,884.40 $1,517.05 $0.00 $259.44 $47,660.89
30 $47,660.89 $1,517.05 $0.00 $269.48 $49,447.42
31 $49,447.42 $1,517.05 $0.00 $279.58 $51,244.05
32 $51,244.05 $1,517.05 $0.00 $289.74 $53,050.84
33 $53,050.84 $1,517.05 $0.00 $299.96 $54,867.85
34 $54,867.85 $1,517.05 $0.00 $310.23 $56,695.13
35 $56,695.13 $1,517.05 $0.00 $320.56 $58,532.74
36 $58,532.74 $1,517.05 $0.00 $330.95 $60,380.74
37 $60,380.74 $1,517.05 $0.00 $341.40 $62,239.19
38 $62,239.19 $1,517.05 $0.00 $351.91 $64,108.15
39 $64,108.15 $1,517.05 $0.00 $362.48 $65,987.68
40 $65,987.68 $1,517.05 $0.00 $373.10 $67,877.83
41 $67,877.83 $1,517.05 $0.00 $383.79 $69,778.67
42 $69,778.67 $1,517.05 $0.00 $394.54 $71,690.26
43 $71,690.26 $1,517.05 $0.00 $405.35 $73,612.66
44 $73,612.66 $1,517.05 $0.00 $416.22 $75,545.93
45 $75,545.93 $1,517.05 $0.00 $427.15 $77,490.13
46 $77,490.13 $1,517.05 $0.00 $438.14 $79,445.32
47 $79,445.32 $1,517.05 $0.00 $449.20 $81,411.57
48 $81,411.57 $1,517.05 $0.00 $460.31 $83,388.93
49 $83,388.93 $1,517.05 $0.00 $471.49 $85,377.47
50 $85,377.47 $1,517.05 $0.00 $482.74 $87,377.26
51 $87,377.26 $1,517.05 $0.00 $494.04 $89,388.35
52 $89,388.35 $1,517.05 $0.00 $505.41 $91,410.81
53 $91,410.81 $1,517.05 $0.00 $516.85 $93,444.71
54 $93,444.71 $1,517.05 $0.00 $528.35 $95,490.11
55 $95,490.11 $1,517.05 $0.00 $539.91 $97,547.07
56 $97,547.07 $1,517.05 $0.00 $551.55 $99,615.67
57 $99,615.67 $1,517.05 $0.00 $563.24 $101,695.96
58 $101,695.96 $1,517.05 $0.00 $575.00 $103,788.01
59 $103,788.01 $1,517.05 $0.00 $586.83 $105,891.89
60 $105,891.89 $1,517.05 $0.00 $598.73 $108,007.67
61 $108,007.67 $1,517.05 $0.00 $610.69 $110,135.41
62 $110,135.41 $1,517.05 $0.00 $622.72 $112,275.18
63 $112,275.18 $1,517.05 $0.00 $634.82 $114,427.05
64 $114,427.05 $1,517.05 $0.00 $646.99 $116,591.09
65 $116,591.09 $1,517.05 $0.00 $659.22 $118,767.36
66 $118,767.36 $1,517.05 $0.00 $671.53 $120,955.94
67 $120,955.94 $1,517.05 $0.00 $683.90 $123,156.89
68 $123,156.89 $1,517.05 $0.00 $696.35 $125,370.29
69 $125,370.29 $1,517.05 $0.00 $708.86 $127,596.20
70 $127,596.20 $1,517.05 $0.00 $721.45 $129,834.70
71 $129,834.70 $1,517.05 $0.00 $734.10 $132,085.85
72 $132,085.85 $1,517.05 $0.00 $746.83 $134,349.73
73 $134,349.73 $1,517.05 $0.00 $759.63 $136,626.41
74 $136,626.41 $1,517.05 $0.00 $772.51 $138,915.97
75 $138,915.97 $1,517.05 $0.00 $785.45 $141,218.47
76 $141,218.47 $1,517.05 $0.00 $798.47 $143,533.99
77 $143,533.99 $1,517.05 $0.00 $811.56 $145,862.60
78 $145,862.60 $1,517.05 $0.00 $824.73 $148,204.38
79 $148,204.38 $1,517.05 $0.00 $837.97 $150,559.40
80 $150,559.40 $1,517.05 $0.00 $851.28 $152,927.73
81 $152,927.73 $1,517.05 $0.00 $864.68 $155,309.46
82 $155,309.46 $1,517.05 $0.00 $878.14 $157,704.65
83 $157,704.65 $1,517.05 $0.00 $891.69 $160,113.39
84 $160,113.39 $1,517.05 $0.00 $905.30 $162,535.74
85 $162,535.74 $1,517.05 $0.00 $919.00 $164,971.79
86 $164,971.79 $1,517.05 $0.00 $932.77 $167,421.61
87 $167,421.61 $1,517.05 $0.00 $946.63 $169,885.29
88 $169,885.29 $1,517.05 $0.00 $960.56 $172,362.90
89 $172,362.90 $1,517.05 $0.00 $974.56 $174,854.51
90 $174,854.51 $1,517.05 $0.00 $988.65 $177,360.21
91 $177,360.21 $1,517.05 $0.00 $1,002.82 $179,880.08
92 $179,880.08 $1,517.05 $0.00 $1,017.07 $182,414.20
93 $182,414.20 $1,517.05 $0.00 $1,031.40 $184,962.65
94 $184,962.65 $1,517.05 $0.00 $1,045.81 $187,525.51
95 $187,525.51 $1,517.05 $0.00 $1,060.30 $190,102.86
96 $190,102.86 $1,517.05 $0.00 $1,074.87 $192,694.78
97 $192,694.78 $1,517.05 $0.00 $1,089.52 $195,301.35
98 $195,301.35 $1,517.05 $0.00 $1,104.26 $197,922.66
99 $197,922.66 $1,517.05 $0.00 $1,119.08 $200,558.79
100 $200,558.79 $1,517.05 $0.00 $1,133.99 $203,209.83
101 $203,209.83 $1,517.05 $0.00 $1,148.98 $205,875.86
102 $205,875.86 $1,517.05 $0.00 $1,164.05 $208,556.96
103 $208,556.96 $1,517.05 $0.00 $1,179.21 $211,253.22
104 $211,253.22 $1,517.05 $0.00 $1,194.46 $213,964.73
105 $213,964.73 $1,517.05 $0.00 $1,209.79 $216,691.57
106 $216,691.57 $1,517.05 $0.00 $1,225.21 $219,433.83
107 $219,433.83 $1,517.05 $0.00 $1,240.71 $222,191.59
108 $222,191.59 $1,517.05 $0.00 $1,256.30 $224,964.94
109 $224,964.94 $1,517.05 $0.00 $1,271.98 $227,753.97
110 $227,753.97 $1,517.05 $0.00 $1,287.75 $230,558.77
111 $230,558.77 $1,517.05 $0.00 $1,303.61 $233,379.43
112 $233,379.43 $1,517.05 $0.00 $1,319.56 $236,216.04
113 $236,216.04 $1,517.05 $0.00 $1,335.60 $239,068.69
114 $239,068.69 $1,517.05 $0.00 $1,351.73 $241,937.47
115 $241,937.47 $1,517.05 $0.00 $1,367.95 $244,822.47
116 $244,822.47 $1,517.05 $0.00 $1,384.26 $247,723.78
117 $247,723.78 $1,517.05 $0.00 $1,400.67 $250,641.50
118 $250,641.50 $1,517.05 $0.00 $1,417.16 $253,575.71
119 $253,575.71 $1,517.05 $0.00 $1,433.75 $256,526.51
120 $256,526.51 $1,517.05 $0.00 $1,450.44 $259,494.00
121 $259,494.00 $1,517.05 $0.00 $1,467.22 $262,478.27
122 $262,478.27 $1,517.05 $0.00 $1,484.09 $265,479.41
123 $265,479.41 $1,517.05 $0.00 $1,501.06 $268,497.52
124 $268,497.52 $1,517.05 $0.00 $1,518.12 $271,532.69
125 $271,532.69 $1,517.05 $0.00 $1,535.29 $274,585.03
126 $274,585.03 $1,517.05 $0.00 $1,552.54 $277,654.62
127 $277,654.62 $1,517.05 $0.00 $1,569.90 $280,741.57
128 $280,741.57 $1,517.05 $0.00 $1,587.35 $283,845.97
129 $283,845.97 $1,517.05 $0.00 $1,604.91 $286,967.93
130 $286,967.93 $1,517.05 $0.00 $1,622.56 $290,107.54
131 $290,107.54 $1,517.05 $0.00 $1,640.31 $293,264.90
132 $293,264.90 $1,517.05 $0.00 $1,658.16 $296,440.11
133 $296,440.11 $1,517.05 $0.00 $1,676.12 $299,633.28
134 $299,633.28 $1,517.05 $0.00 $1,694.17 $302,844.50
135 $302,844.50 $1,517.05 $0.00 $1,712.33 $306,073.88
136 $306,073.88 $1,517.05 $0.00 $1,730.59 $309,321.52
137 $309,321.52 $1,517.05 $0.00 $1,748.95 $312,587.52
138 $312,587.52 $1,517.05 $0.00 $1,767.42 $315,871.99
139 $315,871.99 $1,517.05 $0.00 $1,785.99 $319,175.03
140 $319,175.03 $1,517.05 $0.00 $1,804.66 $322,496.74
141 $322,496.74 $1,517.05 $0.00 $1,823.44 $325,837.23
142 $325,837.23 $1,517.05 $0.00 $1,842.33 $329,196.61
143 $329,196.61 $1,517.05 $0.00 $1,861.33 $332,574.99
144 $332,574.99 $1,517.05 $0.00 $1,880.43 $335,972.47
145 $335,972.47 $1,517.05 $0.00 $1,899.64 $339,389.16
146 $339,389.16 $1,517.05 $0.00 $1,918.96 $342,825.17
147 $342,825.17 $1,517.05 $0.00 $1,938.38 $346,280.60
148 $346,280.60 $1,517.05 $0.00 $1,957.92 $349,755.57
149 $349,755.57 $1,517.05 $0.00 $1,977.57 $353,250.19
150 $353,250.19 $1,517.05 $0.00 $1,997.33 $356,764.57
151 $356,764.57 $1,517.05 $0.00 $2,017.20 $360,298.82
152 $360,298.82 $1,517.05 $0.00 $2,037.18 $363,853.05
153 $363,853.05 $1,517.05 $0.00 $2,057.28 $367,427.38
154 $367,427.38 $1,517.05 $0.00 $2,077.49 $371,021.92
155 $371,021.92 $1,517.05 $0.00 $2,097.81 $374,636.78
156 $374,636.78 $1,517.05 $0.00 $2,118.25 $378,272.08
157 $378,272.08 $1,517.05 $0.00 $2,138.81 $381,927.94
158 $381,927.94 $1,517.05 $0.00 $2,159.48 $385,604.47
159 $385,604.47 $1,517.05 $0.00 $2,180.26 $389,301.78
160 $389,301.78 $1,517.05 $0.00 $2,201.17 $393,020.00
161 $393,020.00 $1,517.05 $0.00 $2,222.19 $396,759.24
162 $396,759.24 $1,517.05 $0.00 $2,243.33 $400,519.62
163 $400,519.62 $1,517.05 $0.00 $2,264.60 $404,301.27
164 $404,301.27 $1,517.05 $0.00 $2,285.98 $408,104.30
165 $408,104.30 $1,517.05 $0.00 $2,307.48 $411,928.83
166 $411,928.83 $1,517.05 $0.00 $2,329.11 $415,774.99
167 $415,774.99 $1,517.05 $0.00 $2,350.85 $419,642.89
168 $419,642.89 $1,517.05 $0.00 $2,372.72 $423,532.66
169 $423,532.66 $1,517.05 $0.00 $2,394.72 $427,444.43
170 $427,444.43 $1,517.05 $0.00 $2,416.83 $431,378.31
171 $431,378.31 $1,517.05 $0.00 $2,439.08 $435,334.44
172 $435,334.44 $1,517.05 $0.00 $2,461.44 $439,312.93
173 $439,312.93 $1,517.05 $0.00 $2,483.94 $443,313.92
174 $443,313.92 $1,517.05 $0.00 $2,506.56 $447,337.53
175 $447,337.53 $1,517.05 $0.00 $2,529.31 $451,383.89
176 $451,383.89 $1,517.05 $0.00 $2,552.19 $455,453.13
177 $455,453.13 $1,517.05 $0.00 $2,575.20 $459,545.38
178 $459,545.38 $1,517.05 $0.00 $2,598.34 $463,660.77
179 $463,660.77 $1,517.05 $0.00 $2,621.61 $467,799.43
180 $467,799.43 $1,517.05 $0.00 $2,645.01 $471,961.49
181 $471,961.49 $1,517.05 $0.00 $2,668.54 $476,147.08
182 $476,147.08 $1,517.05 $0.00 $2,692.20 $480,356.33
183 $480,356.33 $1,517.05 $0.00 $2,716.00 $484,589.38
184 $484,589.38 $1,517.05 $0.00 $2,739.94 $488,846.37
185 $488,846.37 $1,517.05 $0.00 $2,764.01 $493,127.43
186 $493,127.43 $1,517.05 $0.00 $2,788.21 $497,432.69
187 $497,432.69 $1,517.05 $0.00 $2,812.56 $501,762.30
188 $501,762.30 $1,517.05 $0.00 $2,837.04 $506,116.39
189 $506,116.39 $1,517.05 $0.00 $2,861.66 $510,495.10
190 $510,495.10 $1,517.05 $0.00 $2,886.41 $514,898.56
191 $514,898.56 $1,517.05 $0.00 $2,911.31 $519,326.92
192 $519,326.92 $1,517.05 $0.00 $2,936.35 $523,780.32
193 $523,780.32 $1,517.05 $0.00 $2,961.53 $528,258.90
194 $528,258.90 $1,517.05 $0.00 $2,986.85 $532,762.80
195 $532,762.80 $1,517.05 $0.00 $3,012.32 $537,292.17
196 $537,292.17 $1,517.05 $0.00 $3,037.93 $541,847.15
197 $541,847.15 $1,517.05 $0.00 $3,063.68 $546,427.88
198 $546,427.88 $1,517.05 $0.00 $3,089.58 $551,034.51
199 $551,034.51 $1,517.05 $0.00 $3,115.63 $555,667.19
200 $555,667.19 $1,517.05 $0.00 $3,141.82 $560,326.06
201 $560,326.06 $1,517.05 $0.00 $3,168.17 $565,011.28
202 $565,011.28 $1,517.05 $0.00 $3,194.66 $569,722.99
203 $569,722.99 $1,517.05 $0.00 $3,221.30 $574,461.34
204 $574,461.34 $1,517.05 $0.00 $3,248.09 $579,226.48
205 $579,226.48 $1,517.05 $0.00 $3,275.03 $584,018.56
206 $584,018.56 $1,517.05 $0.00 $3,302.13 $588,837.74
207 $588,837.74 $1,517.05 $0.00 $3,329.37 $593,684.16
208 $593,684.16 $1,517.05 $0.00 $3,356.78 $598,557.99
209 $598,557.99 $1,517.05 $0.00 $3,384.33 $603,459.37
210 $603,459.37 $1,517.05 $0.00 $3,412.05 $608,388.47
211 $608,388.47 $1,517.05 $0.00 $3,439.92 $613,345.44
212 $613,345.44 $1,517.05 $0.00 $3,467.94 $618,330.43
213 $618,330.43 $1,517.05 $0.00 $3,496.13 $623,343.61
214 $623,343.61 $1,517.05 $0.00 $3,524.48 $628,385.14
215 $628,385.14 $1,517.05 $0.00 $3,552.98 $633,455.17
216 $633,455.17 $1,517.05 $0.00 $3,581.65 $638,553.87
217 $638,553.87 $1,517.05 $177,858.79 $3,610.48 $465,822.61
218 $465,822.61 $1,517.05 $0.00 $2,633.83 $469,973.49
219 $469,973.49 $1,517.05 $0.00 $2,657.30 $474,147.84
220 $474,147.84 $1,517.05 $0.00 $2,680.90 $478,345.79
221 $478,345.79 $1,517.05 $0.00 $2,704.64 $482,567.48
222 $482,567.48 $1,517.05 $0.00 $2,728.51 $486,813.04
223 $486,813.04 $1,517.05 $0.00 $2,752.51 $491,082.60
224 $491,082.60 $1,517.05 $0.00 $2,776.65 $495,376.30
225 $495,376.30 $1,517.05 $0.00 $2,800.93 $499,694.28
226 $499,694.28 $1,517.05 $0.00 $2,825.34 $504,036.67
227 $504,036.67 $1,517.05 $0.00 $2,849.90 $508,403.62
228 $508,403.62 $1,517.05 $0.00 $2,874.59 $512,795.26
229 $512,795.26 $1,517.05 $186,751.73 $2,899.42 $330,460.00
230 $330,460.00 $1,517.05 $0.00 $1,868.47 $333,845.52
231 $333,845.52 $1,517.05 $0.00 $1,887.61 $337,250.18
232 $337,250.18 $1,517.05 $0.00 $1,906.86 $340,674.09
233 $340,674.09 $1,517.05 $0.00 $1,926.22 $344,117.36
234 $344,117.36 $1,517.05 $0.00 $1,945.69 $347,580.10
235 $347,580.10 $1,517.05 $0.00 $1,965.27 $351,062.42
236 $351,062.42 $1,517.05 $0.00 $1,984.96 $354,564.43
237 $354,564.43 $1,517.05 $0.00 $2,004.76 $358,086.24
238 $358,086.24 $1,517.05 $0.00 $2,024.67 $361,627.96
239 $361,627.96 $1,517.05 $0.00 $2,044.70 $365,189.71
240 $365,189.71 $1,517.05 $0.00 $2,064.84 $368,771.60
241 $368,771.60 $1,517.05 $196,089.31 $2,085.09 $176,284.43
242 $176,284.43 $1,517.05 $0.00 $996.74 $178,798.22
243 $178,798.22 $1,517.05 $0.00 $1,010.95 $181,326.22
244 $181,326.22 $1,517.05 $0.00 $1,025.24 $183,868.51
245 $183,868.51 $1,517.05 $0.00 $1,039.62 $186,425.18
246 $186,425.18 $1,517.05 $0.00 $1,054.08 $188,996.31
247 $188,996.31 $1,517.05 $0.00 $1,068.61 $191,581.97
248 $191,581.97 $1,517.05 $0.00 $1,083.23 $194,182.25
249 $194,182.25 $1,517.05 $0.00 $1,097.93 $196,797.23
250 $196,797.23 $1,517.05 $0.00 $1,112.72 $199,427.00
251 $199,427.00 $1,517.05 $0.00 $1,127.59 $202,071.64
252 $202,071.64 $1,517.05 $0.00 $1,142.54 $204,731.23
253 $204,731.23 $0.00 $205,893.78 $1,157.58 ($4.97)