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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$165,965
Monthly savings required$1,314

How much will it cost to send your child to The College of Wooster in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $663,861.10 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,313.76 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$64,000.00
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 $1,313.76 $0.00 $0.00 $1,313.76
2 $1,313.76 $1,313.76 $0.00 $7.43 $2,634.95
3 $2,634.95 $1,313.76 $0.00 $14.90 $3,963.61
4 $3,963.61 $1,313.76 $0.00 $22.41 $5,299.78
5 $5,299.78 $1,313.76 $0.00 $29.97 $6,643.51
6 $6,643.51 $1,313.76 $0.00 $37.56 $7,994.83
7 $7,994.83 $1,313.76 $0.00 $45.20 $9,353.79
8 $9,353.79 $1,313.76 $0.00 $52.89 $10,720.44
9 $10,720.44 $1,313.76 $0.00 $60.61 $12,094.81
10 $12,094.81 $1,313.76 $0.00 $68.39 $13,476.96
11 $13,476.96 $1,313.76 $0.00 $76.20 $14,866.92
12 $14,866.92 $1,313.76 $0.00 $84.06 $16,264.74
13 $16,264.74 $1,313.76 $0.00 $91.96 $17,670.46
14 $17,670.46 $1,313.76 $0.00 $99.91 $19,084.13
15 $19,084.13 $1,313.76 $0.00 $107.90 $20,505.79
16 $20,505.79 $1,313.76 $0.00 $115.94 $21,935.49
17 $21,935.49 $1,313.76 $0.00 $124.03 $23,373.28
18 $23,373.28 $1,313.76 $0.00 $132.16 $24,819.20
19 $24,819.20 $1,313.76 $0.00 $140.33 $26,273.29
20 $26,273.29 $1,313.76 $0.00 $148.55 $27,735.60
21 $27,735.60 $1,313.76 $0.00 $156.82 $29,206.18
22 $29,206.18 $1,313.76 $0.00 $165.14 $30,685.08
23 $30,685.08 $1,313.76 $0.00 $173.50 $32,172.34
24 $32,172.34 $1,313.76 $0.00 $181.91 $33,668.01
25 $33,668.01 $1,313.76 $0.00 $190.36 $35,172.13
26 $35,172.13 $1,313.76 $0.00 $198.87 $36,684.76
27 $36,684.76 $1,313.76 $0.00 $207.42 $38,205.94
28 $38,205.94 $1,313.76 $0.00 $216.02 $39,735.72
29 $39,735.72 $1,313.76 $0.00 $224.67 $41,274.15
30 $41,274.15 $1,313.76 $0.00 $233.37 $42,821.28
31 $42,821.28 $1,313.76 $0.00 $242.12 $44,377.16
32 $44,377.16 $1,313.76 $0.00 $250.91 $45,941.83
33 $45,941.83 $1,313.76 $0.00 $259.76 $47,515.35
34 $47,515.35 $1,313.76 $0.00 $268.66 $49,097.77
35 $49,097.77 $1,313.76 $0.00 $277.61 $50,689.14
36 $50,689.14 $1,313.76 $0.00 $286.60 $52,289.50
37 $52,289.50 $1,313.76 $0.00 $295.65 $53,898.91
38 $53,898.91 $1,313.76 $0.00 $304.75 $55,517.42
39 $55,517.42 $1,313.76 $0.00 $313.90 $57,145.08
40 $57,145.08 $1,313.76 $0.00 $323.11 $58,781.95
41 $58,781.95 $1,313.76 $0.00 $332.36 $60,428.07
42 $60,428.07 $1,313.76 $0.00 $341.67 $62,083.50
43 $62,083.50 $1,313.76 $0.00 $351.03 $63,748.29
44 $63,748.29 $1,313.76 $0.00 $360.44 $65,422.49
45 $65,422.49 $1,313.76 $0.00 $369.91 $67,106.16
46 $67,106.16 $1,313.76 $0.00 $379.43 $68,799.35
47 $68,799.35 $1,313.76 $0.00 $389.00 $70,502.11
48 $70,502.11 $1,313.76 $0.00 $398.63 $72,214.50
49 $72,214.50 $1,313.76 $0.00 $408.31 $73,936.57
50 $73,936.57 $1,313.76 $0.00 $418.05 $75,668.38
51 $75,668.38 $1,313.76 $0.00 $427.84 $77,409.98
52 $77,409.98 $1,313.76 $0.00 $437.69 $79,161.43
53 $79,161.43 $1,313.76 $0.00 $447.59 $80,922.78
54 $80,922.78 $1,313.76 $0.00 $457.55 $82,694.09
55 $82,694.09 $1,313.76 $0.00 $467.56 $84,475.41
56 $84,475.41 $1,313.76 $0.00 $477.64 $86,266.81
57 $86,266.81 $1,313.76 $0.00 $487.77 $88,068.34
58 $88,068.34 $1,313.76 $0.00 $497.95 $89,880.05
59 $89,880.05 $1,313.76 $0.00 $508.19 $91,702.00
60 $91,702.00 $1,313.76 $0.00 $518.50 $93,534.26
61 $93,534.26 $1,313.76 $0.00 $528.86 $95,376.88
62 $95,376.88 $1,313.76 $0.00 $539.27 $97,229.91
63 $97,229.91 $1,313.76 $0.00 $549.75 $99,093.42
64 $99,093.42 $1,313.76 $0.00 $560.29 $100,967.47
65 $100,967.47 $1,313.76 $0.00 $570.88 $102,852.11
66 $102,852.11 $1,313.76 $0.00 $581.54 $104,747.41
67 $104,747.41 $1,313.76 $0.00 $592.26 $106,653.43
68 $106,653.43 $1,313.76 $0.00 $603.03 $108,570.22
69 $108,570.22 $1,313.76 $0.00 $613.87 $110,497.85
70 $110,497.85 $1,313.76 $0.00 $624.77 $112,436.38
71 $112,436.38 $1,313.76 $0.00 $635.73 $114,385.87
72 $114,385.87 $1,313.76 $0.00 $646.75 $116,346.38
73 $116,346.38 $1,313.76 $0.00 $657.84 $118,317.98
74 $118,317.98 $1,313.76 $0.00 $668.99 $120,300.73
75 $120,300.73 $1,313.76 $0.00 $680.20 $122,294.69
76 $122,294.69 $1,313.76 $0.00 $691.47 $124,299.92
77 $124,299.92 $1,313.76 $0.00 $702.81 $126,316.49
78 $126,316.49 $1,313.76 $0.00 $714.21 $128,344.46
79 $128,344.46 $1,313.76 $0.00 $725.68 $130,383.90
80 $130,383.90 $1,313.76 $0.00 $737.21 $132,434.87
81 $132,434.87 $1,313.76 $0.00 $748.81 $134,497.44
82 $134,497.44 $1,313.76 $0.00 $760.47 $136,571.67
83 $136,571.67 $1,313.76 $0.00 $772.20 $138,657.63
84 $138,657.63 $1,313.76 $0.00 $783.99 $140,755.38
85 $140,755.38 $1,313.76 $0.00 $795.85 $142,864.99
86 $142,864.99 $1,313.76 $0.00 $807.78 $144,986.53
87 $144,986.53 $1,313.76 $0.00 $819.77 $147,120.06
88 $147,120.06 $1,313.76 $0.00 $831.84 $149,265.66
89 $149,265.66 $1,313.76 $0.00 $843.97 $151,423.39
90 $151,423.39 $1,313.76 $0.00 $856.17 $153,593.32
91 $153,593.32 $1,313.76 $0.00 $868.44 $155,775.52
92 $155,775.52 $1,313.76 $0.00 $880.78 $157,970.06
93 $157,970.06 $1,313.76 $0.00 $893.19 $160,177.01
94 $160,177.01 $1,313.76 $0.00 $905.66 $162,396.43
95 $162,396.43 $1,313.76 $0.00 $918.21 $164,628.40
96 $164,628.40 $1,313.76 $0.00 $930.83 $166,872.99
97 $166,872.99 $1,313.76 $0.00 $943.52 $169,130.27
98 $169,130.27 $1,313.76 $0.00 $956.29 $171,400.32
99 $171,400.32 $1,313.76 $0.00 $969.12 $173,683.20
100 $173,683.20 $1,313.76 $0.00 $982.03 $175,978.99
101 $175,978.99 $1,313.76 $0.00 $995.01 $178,287.76
102 $178,287.76 $1,313.76 $0.00 $1,008.06 $180,609.58
103 $180,609.58 $1,313.76 $0.00 $1,021.19 $182,944.53
104 $182,944.53 $1,313.76 $0.00 $1,034.39 $185,292.68
105 $185,292.68 $1,313.76 $0.00 $1,047.67 $187,654.11
106 $187,654.11 $1,313.76 $0.00 $1,061.02 $190,028.89
107 $190,028.89 $1,313.76 $0.00 $1,074.45 $192,417.10
108 $192,417.10 $1,313.76 $0.00 $1,087.95 $194,818.81
109 $194,818.81 $1,313.76 $0.00 $1,101.53 $197,234.10
110 $197,234.10 $1,313.76 $0.00 $1,115.19 $199,663.05
111 $199,663.05 $1,313.76 $0.00 $1,128.92 $202,105.73
112 $202,105.73 $1,313.76 $0.00 $1,142.74 $204,562.23
113 $204,562.23 $1,313.76 $0.00 $1,156.62 $207,032.61
114 $207,032.61 $1,313.76 $0.00 $1,170.59 $209,516.96
115 $209,516.96 $1,313.76 $0.00 $1,184.64 $212,015.36
116 $212,015.36 $1,313.76 $0.00 $1,198.77 $214,527.89
117 $214,527.89 $1,313.76 $0.00 $1,212.97 $217,054.62
118 $217,054.62 $1,313.76 $0.00 $1,227.26 $219,595.64
119 $219,595.64 $1,313.76 $0.00 $1,241.63 $222,151.03
120 $222,151.03 $1,313.76 $0.00 $1,256.07 $224,720.86
121 $224,720.86 $1,313.76 $0.00 $1,270.60 $227,305.22
122 $227,305.22 $1,313.76 $0.00 $1,285.22 $229,904.20
123 $229,904.20 $1,313.76 $0.00 $1,299.91 $232,517.87
124 $232,517.87 $1,313.76 $0.00 $1,314.69 $235,146.32
125 $235,146.32 $1,313.76 $0.00 $1,329.55 $237,789.63
126 $237,789.63 $1,313.76 $0.00 $1,344.50 $240,447.89
127 $240,447.89 $1,313.76 $0.00 $1,359.53 $243,121.18
128 $243,121.18 $1,313.76 $0.00 $1,374.64 $245,809.58
129 $245,809.58 $1,313.76 $0.00 $1,389.84 $248,513.18
130 $248,513.18 $1,313.76 $0.00 $1,405.13 $251,232.07
131 $251,232.07 $1,313.76 $0.00 $1,420.50 $253,966.33
132 $253,966.33 $1,313.76 $0.00 $1,435.96 $256,716.05
133 $256,716.05 $1,313.76 $0.00 $1,451.51 $259,481.32
134 $259,481.32 $1,313.76 $0.00 $1,467.15 $262,262.23
135 $262,262.23 $1,313.76 $0.00 $1,482.87 $265,058.86
136 $265,058.86 $1,313.76 $0.00 $1,498.68 $267,871.30
137 $267,871.30 $1,313.76 $0.00 $1,514.58 $270,699.64
138 $270,699.64 $1,313.76 $0.00 $1,530.58 $273,543.98
139 $273,543.98 $1,313.76 $0.00 $1,546.66 $276,404.40
140 $276,404.40 $1,313.76 $0.00 $1,562.83 $279,280.99
141 $279,280.99 $1,313.76 $0.00 $1,579.10 $282,173.85
142 $282,173.85 $1,313.76 $0.00 $1,595.45 $285,083.06
143 $285,083.06 $1,313.76 $0.00 $1,611.90 $288,008.72
144 $288,008.72 $1,313.76 $0.00 $1,628.44 $290,950.92
145 $290,950.92 $1,313.76 $0.00 $1,645.08 $293,909.76
146 $293,909.76 $1,313.76 $0.00 $1,661.81 $296,885.33
147 $296,885.33 $1,313.76 $0.00 $1,678.63 $299,877.72
148 $299,877.72 $1,313.76 $0.00 $1,695.55 $302,887.03
149 $302,887.03 $1,313.76 $0.00 $1,712.57 $305,913.36
150 $305,913.36 $1,313.76 $0.00 $1,729.68 $308,956.80
151 $308,956.80 $1,313.76 $0.00 $1,746.89 $312,017.45
152 $312,017.45 $1,313.76 $0.00 $1,764.19 $315,095.40
153 $315,095.40 $1,313.76 $0.00 $1,781.60 $318,190.76
154 $318,190.76 $1,313.76 $0.00 $1,799.10 $321,303.62
155 $321,303.62 $1,313.76 $0.00 $1,816.70 $324,434.08
156 $324,434.08 $1,313.76 $0.00 $1,834.40 $327,582.24
157 $327,582.24 $1,313.76 $0.00 $1,852.20 $330,748.20
158 $330,748.20 $1,313.76 $0.00 $1,870.10 $333,932.06
159 $333,932.06 $1,313.76 $0.00 $1,888.10 $337,133.92
160 $337,133.92 $1,313.76 $0.00 $1,906.20 $340,353.88
161 $340,353.88 $1,313.76 $0.00 $1,924.41 $343,592.05
162 $343,592.05 $1,313.76 $0.00 $1,942.72 $346,848.53
163 $346,848.53 $1,313.76 $0.00 $1,961.13 $350,123.42
164 $350,123.42 $1,313.76 $0.00 $1,979.65 $353,416.83
165 $353,416.83 $1,313.76 $0.00 $1,998.27 $356,728.86
166 $356,728.86 $1,313.76 $0.00 $2,017.00 $360,059.62
167 $360,059.62 $1,313.76 $0.00 $2,035.83 $363,409.21
168 $363,409.21 $1,313.76 $0.00 $2,054.77 $366,777.74
169 $366,777.74 $1,313.76 $0.00 $2,073.81 $370,165.31
170 $370,165.31 $1,313.76 $0.00 $2,092.97 $373,572.04
171 $373,572.04 $1,313.76 $0.00 $2,112.23 $376,998.03
172 $376,998.03 $1,313.76 $0.00 $2,131.60 $380,443.39
173 $380,443.39 $1,313.76 $0.00 $2,151.08 $383,908.23
174 $383,908.23 $1,313.76 $0.00 $2,170.67 $387,392.66
175 $387,392.66 $1,313.76 $0.00 $2,190.37 $390,896.79
176 $390,896.79 $1,313.76 $0.00 $2,210.19 $394,420.74
177 $394,420.74 $1,313.76 $0.00 $2,230.11 $397,964.61
178 $397,964.61 $1,313.76 $0.00 $2,250.15 $401,528.52
179 $401,528.52 $1,313.76 $0.00 $2,270.30 $405,112.58
180 $405,112.58 $1,313.76 $0.00 $2,290.57 $408,716.91
181 $408,716.91 $1,313.76 $0.00 $2,310.94 $412,341.61
182 $412,341.61 $1,313.76 $0.00 $2,331.44 $415,986.81
183 $415,986.81 $1,313.76 $0.00 $2,352.05 $419,652.62
184 $419,652.62 $1,313.76 $0.00 $2,372.78 $423,339.16
185 $423,339.16 $1,313.76 $0.00 $2,393.62 $427,046.54
186 $427,046.54 $1,313.76 $0.00 $2,414.58 $430,774.88
187 $430,774.88 $1,313.76 $0.00 $2,435.66 $434,524.30
188 $434,524.30 $1,313.76 $0.00 $2,456.86 $438,294.92
189 $438,294.92 $1,313.76 $0.00 $2,478.18 $442,086.86
190 $442,086.86 $1,313.76 $0.00 $2,499.62 $445,900.24
191 $445,900.24 $1,313.76 $0.00 $2,521.18 $449,735.18
192 $449,735.18 $1,313.76 $0.00 $2,542.87 $453,591.81
193 $453,591.81 $1,313.76 $0.00 $2,564.67 $457,470.24
194 $457,470.24 $1,313.76 $0.00 $2,586.60 $461,370.60
195 $461,370.60 $1,313.76 $0.00 $2,608.66 $465,293.02
196 $465,293.02 $1,313.76 $0.00 $2,630.83 $469,237.61
197 $469,237.61 $1,313.76 $0.00 $2,653.14 $473,204.51
198 $473,204.51 $1,313.76 $0.00 $2,675.57 $477,193.84
199 $477,193.84 $1,313.76 $0.00 $2,698.12 $481,205.72
200 $481,205.72 $1,313.76 $0.00 $2,720.81 $485,240.29
201 $485,240.29 $1,313.76 $0.00 $2,743.62 $489,297.67
202 $489,297.67 $1,313.76 $0.00 $2,766.56 $493,377.99
203 $493,377.99 $1,313.76 $0.00 $2,789.63 $497,481.38
204 $497,481.38 $1,313.76 $0.00 $2,812.83 $501,607.97
205 $501,607.97 $1,313.76 $0.00 $2,836.16 $505,757.89
206 $505,757.89 $1,313.76 $0.00 $2,859.63 $509,931.28
207 $509,931.28 $1,313.76 $0.00 $2,883.23 $514,128.27
208 $514,128.27 $1,313.76 $0.00 $2,906.96 $518,348.99
209 $518,348.99 $1,313.76 $0.00 $2,930.82 $522,593.57
210 $522,593.57 $1,313.76 $0.00 $2,954.82 $526,862.15
211 $526,862.15 $1,313.76 $0.00 $2,978.96 $531,154.87
212 $531,154.87 $1,313.76 $0.00 $3,003.23 $535,471.86
213 $535,471.86 $1,313.76 $0.00 $3,027.64 $539,813.26
214 $539,813.26 $1,313.76 $0.00 $3,052.18 $544,179.20
215 $544,179.20 $1,313.76 $0.00 $3,076.87 $548,569.83
216 $548,569.83 $1,313.76 $0.00 $3,101.69 $552,985.28
217 $552,985.28 $1,313.76 $154,023.63 $3,126.66 $403,402.07
218 $403,402.07 $1,313.76 $0.00 $2,280.89 $406,996.72
219 $406,996.72 $1,313.76 $0.00 $2,301.22 $410,611.70
220 $410,611.70 $1,313.76 $0.00 $2,321.66 $414,247.12
221 $414,247.12 $1,313.76 $0.00 $2,342.21 $417,903.09
222 $417,903.09 $1,313.76 $0.00 $2,362.88 $421,579.73
223 $421,579.73 $1,313.76 $0.00 $2,383.67 $425,277.16
224 $425,277.16 $1,313.76 $0.00 $2,404.58 $428,995.50
225 $428,995.50 $1,313.76 $0.00 $2,425.60 $432,734.86
226 $432,734.86 $1,313.76 $0.00 $2,446.75 $436,495.37
227 $436,495.37 $1,313.76 $0.00 $2,468.01 $440,277.14
228 $440,277.14 $1,313.76 $0.00 $2,489.39 $444,080.29
229 $444,080.29 $1,313.76 $161,724.81 $2,510.89 $286,180.13
230 $286,180.13 $1,313.76 $0.00 $1,618.10 $289,111.99
231 $289,111.99 $1,313.76 $0.00 $1,634.68 $292,060.43
232 $292,060.43 $1,313.76 $0.00 $1,651.35 $295,025.54
233 $295,025.54 $1,313.76 $0.00 $1,668.12 $298,007.42
234 $298,007.42 $1,313.76 $0.00 $1,684.98 $301,006.16
235 $301,006.16 $1,313.76 $0.00 $1,701.93 $304,021.85
236 $304,021.85 $1,313.76 $0.00 $1,718.98 $307,054.59
237 $307,054.59 $1,313.76 $0.00 $1,736.13 $310,104.48
238 $310,104.48 $1,313.76 $0.00 $1,753.38 $313,171.62
239 $313,171.62 $1,313.76 $0.00 $1,770.72 $316,256.10
240 $316,256.10 $1,313.76 $0.00 $1,788.16 $319,358.02
241 $319,358.02 $1,313.76 $169,811.05 $1,805.70 $152,666.43
242 $152,666.43 $1,313.76 $0.00 $863.20 $154,843.39
243 $154,843.39 $1,313.76 $0.00 $875.51 $157,032.66
244 $157,032.66 $1,313.76 $0.00 $887.89 $159,234.31
245 $159,234.31 $1,313.76 $0.00 $900.33 $161,448.40
246 $161,448.40 $1,313.76 $0.00 $912.85 $163,675.01
247 $163,675.01 $1,313.76 $0.00 $925.44 $165,914.21
248 $165,914.21 $1,313.76 $0.00 $938.10 $168,166.07
249 $168,166.07 $1,313.76 $0.00 $950.84 $170,430.67
250 $170,430.67 $1,313.76 $0.00 $963.64 $172,708.07
251 $172,708.07 $1,313.76 $0.00 $976.52 $174,998.35
252 $174,998.35 $1,313.76 $0.00 $989.47 $177,301.58
253 $177,301.58 $0.00 $178,301.61 $1,002.49 $2.46