Savings Plan and Future Cost Estimation for Davidson College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$189,758
Monthly savings required$1,502

How much will it cost to send your child to Davidson College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $759,031.82 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,502.09 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$73,175.00
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 $1,502.09 $0.00 $0.00 $1,502.09
2 $1,502.09 $1,502.09 $0.00 $8.49 $3,012.67
3 $3,012.67 $1,502.09 $0.00 $17.03 $4,531.79
4 $4,531.79 $1,502.09 $0.00 $25.62 $6,059.50
5 $6,059.50 $1,502.09 $0.00 $34.26 $7,595.85
6 $7,595.85 $1,502.09 $0.00 $42.95 $9,140.89
7 $9,140.89 $1,502.09 $0.00 $51.68 $10,694.66
8 $10,694.66 $1,502.09 $0.00 $60.47 $12,257.22
9 $12,257.22 $1,502.09 $0.00 $69.30 $13,828.61
10 $13,828.61 $1,502.09 $0.00 $78.19 $15,408.89
11 $15,408.89 $1,502.09 $0.00 $87.12 $16,998.10
12 $16,998.10 $1,502.09 $0.00 $96.11 $18,596.30
13 $18,596.30 $1,502.09 $0.00 $105.15 $20,203.54
14 $20,203.54 $1,502.09 $0.00 $114.23 $21,819.86
15 $21,819.86 $1,502.09 $0.00 $123.37 $23,445.32
16 $23,445.32 $1,502.09 $0.00 $132.56 $25,079.97
17 $25,079.97 $1,502.09 $0.00 $141.81 $26,723.87
18 $26,723.87 $1,502.09 $0.00 $151.10 $28,377.06
19 $28,377.06 $1,502.09 $0.00 $160.45 $30,039.60
20 $30,039.60 $1,502.09 $0.00 $169.85 $31,711.54
21 $31,711.54 $1,502.09 $0.00 $179.30 $33,392.93
22 $33,392.93 $1,502.09 $0.00 $188.81 $35,083.83
23 $35,083.83 $1,502.09 $0.00 $198.37 $36,784.29
24 $36,784.29 $1,502.09 $0.00 $207.98 $38,494.36
25 $38,494.36 $1,502.09 $0.00 $217.65 $40,214.10
26 $40,214.10 $1,502.09 $0.00 $227.38 $41,943.57
27 $41,943.57 $1,502.09 $0.00 $237.16 $43,682.82
28 $43,682.82 $1,502.09 $0.00 $246.99 $45,431.90
29 $45,431.90 $1,502.09 $0.00 $256.88 $47,190.87
30 $47,190.87 $1,502.09 $0.00 $266.82 $48,959.78
31 $48,959.78 $1,502.09 $0.00 $276.83 $50,738.70
32 $50,738.70 $1,502.09 $0.00 $286.88 $52,527.67
33 $52,527.67 $1,502.09 $0.00 $297.00 $54,326.76
34 $54,326.76 $1,502.09 $0.00 $307.17 $56,136.02
35 $56,136.02 $1,502.09 $0.00 $317.40 $57,955.51
36 $57,955.51 $1,502.09 $0.00 $327.69 $59,785.29
37 $59,785.29 $1,502.09 $0.00 $338.03 $61,625.41
38 $61,625.41 $1,502.09 $0.00 $348.44 $63,475.94
39 $63,475.94 $1,502.09 $0.00 $358.90 $65,336.93
40 $65,336.93 $1,502.09 $0.00 $369.42 $67,208.44
41 $67,208.44 $1,502.09 $0.00 $380.01 $69,090.54
42 $69,090.54 $1,502.09 $0.00 $390.65 $70,983.28
43 $70,983.28 $1,502.09 $0.00 $401.35 $72,886.72
44 $72,886.72 $1,502.09 $0.00 $412.11 $74,800.92
45 $74,800.92 $1,502.09 $0.00 $422.94 $76,725.95
46 $76,725.95 $1,502.09 $0.00 $433.82 $78,661.86
47 $78,661.86 $1,502.09 $0.00 $444.77 $80,608.72
48 $80,608.72 $1,502.09 $0.00 $455.77 $82,566.58
49 $82,566.58 $1,502.09 $0.00 $466.84 $84,535.51
50 $84,535.51 $1,502.09 $0.00 $477.98 $86,515.58
51 $86,515.58 $1,502.09 $0.00 $489.17 $88,506.84
52 $88,506.84 $1,502.09 $0.00 $500.43 $90,509.36
53 $90,509.36 $1,502.09 $0.00 $511.75 $92,523.20
54 $92,523.20 $1,502.09 $0.00 $523.14 $94,548.43
55 $94,548.43 $1,502.09 $0.00 $534.59 $96,585.11
56 $96,585.11 $1,502.09 $0.00 $546.11 $98,633.31
57 $98,633.31 $1,502.09 $0.00 $557.69 $100,693.09
58 $100,693.09 $1,502.09 $0.00 $569.33 $102,764.51
59 $102,764.51 $1,502.09 $0.00 $581.05 $104,847.65
60 $104,847.65 $1,502.09 $0.00 $592.82 $106,942.56
61 $106,942.56 $1,502.09 $0.00 $604.67 $109,049.32
62 $109,049.32 $1,502.09 $0.00 $616.58 $111,167.99
63 $111,167.99 $1,502.09 $0.00 $628.56 $113,298.64
64 $113,298.64 $1,502.09 $0.00 $640.61 $115,441.34
65 $115,441.34 $1,502.09 $0.00 $652.72 $117,596.15
66 $117,596.15 $1,502.09 $0.00 $664.91 $119,763.15
67 $119,763.15 $1,502.09 $0.00 $677.16 $121,942.40
68 $121,942.40 $1,502.09 $0.00 $689.48 $124,133.97
69 $124,133.97 $1,502.09 $0.00 $701.87 $126,337.93
70 $126,337.93 $1,502.09 $0.00 $714.33 $128,554.35
71 $128,554.35 $1,502.09 $0.00 $726.86 $130,783.30
72 $130,783.30 $1,502.09 $0.00 $739.47 $133,024.86
73 $133,024.86 $1,502.09 $0.00 $752.14 $135,279.09
74 $135,279.09 $1,502.09 $0.00 $764.89 $137,546.07
75 $137,546.07 $1,502.09 $0.00 $777.71 $139,825.87
76 $139,825.87 $1,502.09 $0.00 $790.60 $142,118.56
77 $142,118.56 $1,502.09 $0.00 $803.56 $144,424.21
78 $144,424.21 $1,502.09 $0.00 $816.60 $146,742.90
79 $146,742.90 $1,502.09 $0.00 $829.71 $149,074.70
80 $149,074.70 $1,502.09 $0.00 $842.89 $151,419.68
81 $151,419.68 $1,502.09 $0.00 $856.15 $153,777.92
82 $153,777.92 $1,502.09 $0.00 $869.48 $156,149.49
83 $156,149.49 $1,502.09 $0.00 $882.89 $158,534.47
84 $158,534.47 $1,502.09 $0.00 $896.38 $160,932.94
85 $160,932.94 $1,502.09 $0.00 $909.94 $163,344.97
86 $163,344.97 $1,502.09 $0.00 $923.58 $165,770.64
87 $165,770.64 $1,502.09 $0.00 $937.29 $168,210.02
88 $168,210.02 $1,502.09 $0.00 $951.08 $170,663.19
89 $170,663.19 $1,502.09 $0.00 $964.95 $173,130.23
90 $173,130.23 $1,502.09 $0.00 $978.90 $175,611.22
91 $175,611.22 $1,502.09 $0.00 $992.93 $178,106.24
92 $178,106.24 $1,502.09 $0.00 $1,007.04 $180,615.37
93 $180,615.37 $1,502.09 $0.00 $1,021.23 $183,138.69
94 $183,138.69 $1,502.09 $0.00 $1,035.49 $185,676.27
95 $185,676.27 $1,502.09 $0.00 $1,049.84 $188,228.20
96 $188,228.20 $1,502.09 $0.00 $1,064.27 $190,794.56
97 $190,794.56 $1,502.09 $0.00 $1,078.78 $193,375.43
98 $193,375.43 $1,502.09 $0.00 $1,093.37 $195,970.89
99 $195,970.89 $1,502.09 $0.00 $1,108.05 $198,581.03
100 $198,581.03 $1,502.09 $0.00 $1,122.81 $201,205.93
101 $201,205.93 $1,502.09 $0.00 $1,137.65 $203,845.67
102 $203,845.67 $1,502.09 $0.00 $1,152.57 $206,500.33
103 $206,500.33 $1,502.09 $0.00 $1,167.58 $209,170.00
104 $209,170.00 $1,502.09 $0.00 $1,182.68 $211,854.77
105 $211,854.77 $1,502.09 $0.00 $1,197.86 $214,554.72
106 $214,554.72 $1,502.09 $0.00 $1,213.12 $217,269.93
107 $217,269.93 $1,502.09 $0.00 $1,228.48 $220,000.50
108 $220,000.50 $1,502.09 $0.00 $1,243.91 $222,746.50
109 $222,746.50 $1,502.09 $0.00 $1,259.44 $225,508.03
110 $225,508.03 $1,502.09 $0.00 $1,275.06 $228,285.18
111 $228,285.18 $1,502.09 $0.00 $1,290.76 $231,078.03
112 $231,078.03 $1,502.09 $0.00 $1,306.55 $233,886.67
113 $233,886.67 $1,502.09 $0.00 $1,322.43 $236,711.19
114 $236,711.19 $1,502.09 $0.00 $1,338.40 $239,551.68
115 $239,551.68 $1,502.09 $0.00 $1,354.46 $242,408.23
116 $242,408.23 $1,502.09 $0.00 $1,370.61 $245,280.93
117 $245,280.93 $1,502.09 $0.00 $1,386.85 $248,169.87
118 $248,169.87 $1,502.09 $0.00 $1,403.19 $251,075.15
119 $251,075.15 $1,502.09 $0.00 $1,419.62 $253,996.86
120 $253,996.86 $1,502.09 $0.00 $1,436.14 $256,935.09
121 $256,935.09 $1,502.09 $0.00 $1,452.75 $259,889.93
122 $259,889.93 $1,502.09 $0.00 $1,469.46 $262,861.48
123 $262,861.48 $1,502.09 $0.00 $1,486.26 $265,849.83
124 $265,849.83 $1,502.09 $0.00 $1,503.15 $268,855.07
125 $268,855.07 $1,502.09 $0.00 $1,520.15 $271,877.31
126 $271,877.31 $1,502.09 $0.00 $1,537.23 $274,916.63
127 $274,916.63 $1,502.09 $0.00 $1,554.42 $277,973.14
128 $277,973.14 $1,502.09 $0.00 $1,571.70 $281,046.93
129 $281,046.93 $1,502.09 $0.00 $1,589.08 $284,138.10
130 $284,138.10 $1,502.09 $0.00 $1,606.56 $287,246.75
131 $287,246.75 $1,502.09 $0.00 $1,624.13 $290,372.97
132 $290,372.97 $1,502.09 $0.00 $1,641.81 $293,516.87
133 $293,516.87 $1,502.09 $0.00 $1,659.59 $296,678.55
134 $296,678.55 $1,502.09 $0.00 $1,677.46 $299,858.10
135 $299,858.10 $1,502.09 $0.00 $1,695.44 $303,055.63
136 $303,055.63 $1,502.09 $0.00 $1,713.52 $306,271.24
137 $306,271.24 $1,502.09 $0.00 $1,731.70 $309,505.03
138 $309,505.03 $1,502.09 $0.00 $1,749.99 $312,757.11
139 $312,757.11 $1,502.09 $0.00 $1,768.37 $316,027.57
140 $316,027.57 $1,502.09 $0.00 $1,786.87 $319,316.53
141 $319,316.53 $1,502.09 $0.00 $1,805.46 $322,624.08
142 $322,624.08 $1,502.09 $0.00 $1,824.16 $325,950.33
143 $325,950.33 $1,502.09 $0.00 $1,842.97 $329,295.39
144 $329,295.39 $1,502.09 $0.00 $1,861.88 $332,659.36
145 $332,659.36 $1,502.09 $0.00 $1,880.90 $336,042.35
146 $336,042.35 $1,502.09 $0.00 $1,900.03 $339,444.47
147 $339,444.47 $1,502.09 $0.00 $1,919.27 $342,865.83
148 $342,865.83 $1,502.09 $0.00 $1,938.61 $346,306.53
149 $346,306.53 $1,502.09 $0.00 $1,958.07 $349,766.69
150 $349,766.69 $1,502.09 $0.00 $1,977.63 $353,246.41
151 $353,246.41 $1,502.09 $0.00 $1,997.31 $356,745.81
152 $356,745.81 $1,502.09 $0.00 $2,017.09 $360,264.99
153 $360,264.99 $1,502.09 $0.00 $2,036.99 $363,804.07
154 $363,804.07 $1,502.09 $0.00 $2,057.00 $367,363.16
155 $367,363.16 $1,502.09 $0.00 $2,077.12 $370,942.37
156 $370,942.37 $1,502.09 $0.00 $2,097.36 $374,541.82
157 $374,541.82 $1,502.09 $0.00 $2,117.71 $378,161.62
158 $378,161.62 $1,502.09 $0.00 $2,138.18 $381,801.89
159 $381,801.89 $1,502.09 $0.00 $2,158.76 $385,462.74
160 $385,462.74 $1,502.09 $0.00 $2,179.46 $389,144.29
161 $389,144.29 $1,502.09 $0.00 $2,200.28 $392,846.66
162 $392,846.66 $1,502.09 $0.00 $2,221.21 $396,569.96
163 $396,569.96 $1,502.09 $0.00 $2,242.26 $400,314.31
164 $400,314.31 $1,502.09 $0.00 $2,263.44 $404,079.84
165 $404,079.84 $1,502.09 $0.00 $2,284.73 $407,866.66
166 $407,866.66 $1,502.09 $0.00 $2,306.14 $411,674.89
167 $411,674.89 $1,502.09 $0.00 $2,327.67 $415,504.65
168 $415,504.65 $1,502.09 $0.00 $2,349.32 $419,356.06
169 $419,356.06 $1,502.09 $0.00 $2,371.10 $423,229.25
170 $423,229.25 $1,502.09 $0.00 $2,393.00 $427,124.34
171 $427,124.34 $1,502.09 $0.00 $2,415.02 $431,041.45
172 $431,041.45 $1,502.09 $0.00 $2,437.17 $434,980.71
173 $434,980.71 $1,502.09 $0.00 $2,459.44 $438,942.24
174 $438,942.24 $1,502.09 $0.00 $2,481.84 $442,926.17
175 $442,926.17 $1,502.09 $0.00 $2,504.37 $446,932.63
176 $446,932.63 $1,502.09 $0.00 $2,527.02 $450,961.74
177 $450,961.74 $1,502.09 $0.00 $2,549.80 $455,013.63
178 $455,013.63 $1,502.09 $0.00 $2,572.71 $459,088.43
179 $459,088.43 $1,502.09 $0.00 $2,595.75 $463,186.27
180 $463,186.27 $1,502.09 $0.00 $2,618.92 $467,307.28
181 $467,307.28 $1,502.09 $0.00 $2,642.22 $471,451.59
182 $471,451.59 $1,502.09 $0.00 $2,665.66 $475,619.34
183 $475,619.34 $1,502.09 $0.00 $2,689.22 $479,810.65
184 $479,810.65 $1,502.09 $0.00 $2,712.92 $484,025.66
185 $484,025.66 $1,502.09 $0.00 $2,736.75 $488,264.50
186 $488,264.50 $1,502.09 $0.00 $2,760.72 $492,527.31
187 $492,527.31 $1,502.09 $0.00 $2,784.82 $496,814.22
188 $496,814.22 $1,502.09 $0.00 $2,809.06 $501,125.37
189 $501,125.37 $1,502.09 $0.00 $2,833.44 $505,460.90
190 $505,460.90 $1,502.09 $0.00 $2,857.95 $509,820.94
191 $509,820.94 $1,502.09 $0.00 $2,882.60 $514,205.63
192 $514,205.63 $1,502.09 $0.00 $2,907.39 $518,615.11
193 $518,615.11 $1,502.09 $0.00 $2,932.33 $523,049.53
194 $523,049.53 $1,502.09 $0.00 $2,957.40 $527,509.02
195 $527,509.02 $1,502.09 $0.00 $2,982.61 $531,993.72
196 $531,993.72 $1,502.09 $0.00 $3,007.97 $536,503.78
197 $536,503.78 $1,502.09 $0.00 $3,033.47 $541,039.34
198 $541,039.34 $1,502.09 $0.00 $3,059.12 $545,600.55
199 $545,600.55 $1,502.09 $0.00 $3,084.90 $550,187.54
200 $550,187.54 $1,502.09 $0.00 $3,110.84 $554,800.47
201 $554,800.47 $1,502.09 $0.00 $3,136.92 $559,439.48
202 $559,439.48 $1,502.09 $0.00 $3,163.15 $564,104.72
203 $564,104.72 $1,502.09 $0.00 $3,189.53 $568,796.34
204 $568,796.34 $1,502.09 $0.00 $3,216.06 $573,514.49
205 $573,514.49 $1,502.09 $0.00 $3,242.73 $578,259.31
206 $578,259.31 $1,502.09 $0.00 $3,269.56 $583,030.96
207 $583,030.96 $1,502.09 $0.00 $3,296.54 $587,829.59
208 $587,829.59 $1,502.09 $0.00 $3,323.67 $592,655.35
209 $592,655.35 $1,502.09 $0.00 $3,350.96 $597,508.40
210 $597,508.40 $1,502.09 $0.00 $3,378.40 $602,388.89
211 $602,388.89 $1,502.09 $0.00 $3,405.99 $607,296.97
212 $607,296.97 $1,502.09 $0.00 $3,433.75 $612,232.81
213 $612,232.81 $1,502.09 $0.00 $3,461.65 $617,196.55
214 $617,196.55 $1,502.09 $0.00 $3,489.72 $622,188.36
215 $622,188.36 $1,502.09 $0.00 $3,517.94 $627,208.39
216 $627,208.39 $1,502.09 $0.00 $3,546.33 $632,256.81
217 $632,256.81 $1,502.09 $176,104.36 $3,574.87 $461,229.41
218 $461,229.41 $1,502.09 $0.00 $2,607.86 $465,339.36
219 $465,339.36 $1,502.09 $0.00 $2,631.10 $469,472.55
220 $469,472.55 $1,502.09 $0.00 $2,654.47 $473,629.11
221 $473,629.11 $1,502.09 $0.00 $2,677.97 $477,809.17
222 $477,809.17 $1,502.09 $0.00 $2,701.60 $482,012.86
223 $482,012.86 $1,502.09 $0.00 $2,725.37 $486,240.32
224 $486,240.32 $1,502.09 $0.00 $2,749.27 $490,491.68
225 $490,491.68 $1,502.09 $0.00 $2,773.31 $494,767.08
226 $494,767.08 $1,502.09 $0.00 $2,797.49 $499,066.66
227 $499,066.66 $1,502.09 $0.00 $2,821.80 $503,390.55
228 $503,390.55 $1,502.09 $0.00 $2,846.24 $507,738.88
229 $507,738.88 $1,502.09 $184,909.58 $2,870.83 $327,202.22
230 $327,202.22 $1,502.09 $0.00 $1,850.05 $330,554.36
231 $330,554.36 $1,502.09 $0.00 $1,869.00 $333,925.45
232 $333,925.45 $1,502.09 $0.00 $1,888.06 $337,315.60
233 $337,315.60 $1,502.09 $0.00 $1,907.23 $340,724.92
234 $340,724.92 $1,502.09 $0.00 $1,926.51 $344,153.52
235 $344,153.52 $1,502.09 $0.00 $1,945.89 $347,601.50
236 $347,601.50 $1,502.09 $0.00 $1,965.39 $351,068.98
237 $351,068.98 $1,502.09 $0.00 $1,985.00 $354,556.07
238 $354,556.07 $1,502.09 $0.00 $2,004.71 $358,062.87
239 $358,062.87 $1,502.09 $0.00 $2,024.54 $361,589.50
240 $361,589.50 $1,502.09 $0.00 $2,044.48 $365,136.07
241 $365,136.07 $1,502.09 $194,155.06 $2,064.53 $174,547.63
242 $174,547.63 $1,502.09 $0.00 $986.92 $177,036.64
243 $177,036.64 $1,502.09 $0.00 $1,000.99 $179,539.72
244 $179,539.72 $1,502.09 $0.00 $1,015.14 $182,056.95
245 $182,056.95 $1,502.09 $0.00 $1,029.38 $184,588.42
246 $184,588.42 $1,502.09 $0.00 $1,043.69 $187,134.20
247 $187,134.20 $1,502.09 $0.00 $1,058.08 $189,694.37
248 $189,694.37 $1,502.09 $0.00 $1,072.56 $192,269.02
249 $192,269.02 $1,502.09 $0.00 $1,087.12 $194,858.23
250 $194,858.23 $1,502.09 $0.00 $1,101.76 $197,462.08
251 $197,462.08 $1,502.09 $0.00 $1,116.48 $200,080.65
252 $200,080.65 $1,502.09 $0.00 $1,131.29 $202,714.03
253 $202,714.03 $0.00 $203,862.81 $1,146.17 ($2.61)