Savings Plan and Future Cost Estimation for Presbyterian College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$215,571
Monthly savings required$1,704

How much will it cost to send your child to Presbyterian College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $862,285.36 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,703.71 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$57,460.00
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 $1,703.71 $0.00 $0.00 $1,703.71
2 $1,703.71 $1,703.71 $0.00 $9.63 $3,417.05
3 $3,417.05 $1,703.71 $0.00 $19.32 $5,140.08
4 $5,140.08 $1,703.71 $0.00 $29.06 $6,872.85
5 $6,872.85 $1,703.71 $0.00 $38.86 $8,615.42
6 $8,615.42 $1,703.71 $0.00 $48.71 $10,367.84
7 $10,367.84 $1,703.71 $0.00 $58.62 $12,130.17
8 $12,130.17 $1,703.71 $0.00 $68.59 $13,902.47
9 $13,902.47 $1,703.71 $0.00 $78.61 $15,684.79
10 $15,684.79 $1,703.71 $0.00 $88.68 $17,477.18
11 $17,477.18 $1,703.71 $0.00 $98.82 $19,279.71
12 $19,279.71 $1,703.71 $0.00 $109.01 $21,092.43
13 $21,092.43 $1,703.71 $0.00 $119.26 $22,915.40
14 $22,915.40 $1,703.71 $0.00 $129.57 $24,748.68
15 $24,748.68 $1,703.71 $0.00 $139.93 $26,592.32
16 $26,592.32 $1,703.71 $0.00 $150.36 $28,446.39
17 $28,446.39 $1,703.71 $0.00 $160.84 $30,310.94
18 $30,310.94 $1,703.71 $0.00 $171.38 $32,186.03
19 $32,186.03 $1,703.71 $0.00 $181.98 $34,071.72
20 $34,071.72 $1,703.71 $0.00 $192.65 $35,968.08
21 $35,968.08 $1,703.71 $0.00 $203.37 $37,875.16
22 $37,875.16 $1,703.71 $0.00 $214.15 $39,793.02
23 $39,793.02 $1,703.71 $0.00 $225.00 $41,721.73
24 $41,721.73 $1,703.71 $0.00 $235.90 $43,661.34
25 $43,661.34 $1,703.71 $0.00 $246.87 $45,611.92
26 $45,611.92 $1,703.71 $0.00 $257.90 $47,573.53
27 $47,573.53 $1,703.71 $0.00 $268.99 $49,546.23
28 $49,546.23 $1,703.71 $0.00 $280.14 $51,530.08
29 $51,530.08 $1,703.71 $0.00 $291.36 $53,525.15
30 $53,525.15 $1,703.71 $0.00 $302.64 $55,531.50
31 $55,531.50 $1,703.71 $0.00 $313.98 $57,549.19
32 $57,549.19 $1,703.71 $0.00 $325.39 $59,578.29
33 $59,578.29 $1,703.71 $0.00 $336.86 $61,618.86
34 $61,618.86 $1,703.71 $0.00 $348.40 $63,670.97
35 $63,670.97 $1,703.71 $0.00 $360.00 $65,734.68
36 $65,734.68 $1,703.71 $0.00 $371.67 $67,810.06
37 $67,810.06 $1,703.71 $0.00 $383.41 $69,897.18
38 $69,897.18 $1,703.71 $0.00 $395.21 $71,996.10
39 $71,996.10 $1,703.71 $0.00 $407.08 $74,106.89
40 $74,106.89 $1,703.71 $0.00 $419.01 $76,229.61
41 $76,229.61 $1,703.71 $0.00 $431.01 $78,364.33
42 $78,364.33 $1,703.71 $0.00 $443.08 $80,511.12
43 $80,511.12 $1,703.71 $0.00 $455.22 $82,670.05
44 $82,670.05 $1,703.71 $0.00 $467.43 $84,841.19
45 $84,841.19 $1,703.71 $0.00 $479.70 $87,024.60
46 $87,024.60 $1,703.71 $0.00 $492.05 $89,220.36
47 $89,220.36 $1,703.71 $0.00 $504.46 $91,428.53
48 $91,428.53 $1,703.71 $0.00 $516.95 $93,649.19
49 $93,649.19 $1,703.71 $0.00 $529.51 $95,882.41
50 $95,882.41 $1,703.71 $0.00 $542.13 $98,128.25
51 $98,128.25 $1,703.71 $0.00 $554.83 $100,386.79
52 $100,386.79 $1,703.71 $0.00 $567.60 $102,658.10
53 $102,658.10 $1,703.71 $0.00 $580.44 $104,942.25
54 $104,942.25 $1,703.71 $0.00 $593.36 $107,239.32
55 $107,239.32 $1,703.71 $0.00 $606.35 $109,549.38
56 $109,549.38 $1,703.71 $0.00 $619.41 $111,872.50
57 $111,872.50 $1,703.71 $0.00 $632.54 $114,208.75
58 $114,208.75 $1,703.71 $0.00 $645.75 $116,558.21
59 $116,558.21 $1,703.71 $0.00 $659.04 $118,920.96
60 $118,920.96 $1,703.71 $0.00 $672.40 $121,297.07
61 $121,297.07 $1,703.71 $0.00 $685.83 $123,686.61
62 $123,686.61 $1,703.71 $0.00 $699.34 $126,089.66
63 $126,089.66 $1,703.71 $0.00 $712.93 $128,506.30
64 $128,506.30 $1,703.71 $0.00 $726.59 $130,936.60
65 $130,936.60 $1,703.71 $0.00 $740.33 $133,380.64
66 $133,380.64 $1,703.71 $0.00 $754.15 $135,838.50
67 $135,838.50 $1,703.71 $0.00 $768.05 $138,310.26
68 $138,310.26 $1,703.71 $0.00 $782.03 $140,796.00
69 $140,796.00 $1,703.71 $0.00 $796.08 $143,295.79
70 $143,295.79 $1,703.71 $0.00 $810.22 $145,809.72
71 $145,809.72 $1,703.71 $0.00 $824.43 $148,337.86
72 $148,337.86 $1,703.71 $0.00 $838.72 $150,880.29
73 $150,880.29 $1,703.71 $0.00 $853.10 $153,437.10
74 $153,437.10 $1,703.71 $0.00 $867.56 $156,008.37
75 $156,008.37 $1,703.71 $0.00 $882.09 $158,594.17
76 $158,594.17 $1,703.71 $0.00 $896.71 $161,194.59
77 $161,194.59 $1,703.71 $0.00 $911.42 $163,809.72
78 $163,809.72 $1,703.71 $0.00 $926.20 $166,439.63
79 $166,439.63 $1,703.71 $0.00 $941.07 $169,084.41
80 $169,084.41 $1,703.71 $0.00 $956.03 $171,744.15
81 $171,744.15 $1,703.71 $0.00 $971.07 $174,418.93
82 $174,418.93 $1,703.71 $0.00 $986.19 $177,108.83
83 $177,108.83 $1,703.71 $0.00 $1,001.40 $179,813.94
84 $179,813.94 $1,703.71 $0.00 $1,016.69 $182,534.34
85 $182,534.34 $1,703.71 $0.00 $1,032.08 $185,270.13
86 $185,270.13 $1,703.71 $0.00 $1,047.54 $188,021.38
87 $188,021.38 $1,703.71 $0.00 $1,063.10 $190,788.19
88 $190,788.19 $1,703.71 $0.00 $1,078.74 $193,570.64
89 $193,570.64 $1,703.71 $0.00 $1,094.48 $196,368.83
90 $196,368.83 $1,703.71 $0.00 $1,110.30 $199,182.84
91 $199,182.84 $1,703.71 $0.00 $1,126.21 $202,012.76
92 $202,012.76 $1,703.71 $0.00 $1,142.21 $204,858.68
93 $204,858.68 $1,703.71 $0.00 $1,158.30 $207,720.69
94 $207,720.69 $1,703.71 $0.00 $1,174.48 $210,598.88
95 $210,598.88 $1,703.71 $0.00 $1,190.76 $213,493.35
96 $213,493.35 $1,703.71 $0.00 $1,207.12 $216,404.18
97 $216,404.18 $1,703.71 $0.00 $1,223.58 $219,331.47
98 $219,331.47 $1,703.71 $0.00 $1,240.13 $222,275.31
99 $222,275.31 $1,703.71 $0.00 $1,256.78 $225,235.80
100 $225,235.80 $1,703.71 $0.00 $1,273.52 $228,213.03
101 $228,213.03 $1,703.71 $0.00 $1,290.35 $231,207.09
102 $231,207.09 $1,703.71 $0.00 $1,307.28 $234,218.08
103 $234,218.08 $1,703.71 $0.00 $1,324.30 $237,246.09
104 $237,246.09 $1,703.71 $0.00 $1,341.42 $240,291.22
105 $240,291.22 $1,703.71 $0.00 $1,358.64 $243,353.57
106 $243,353.57 $1,703.71 $0.00 $1,375.96 $246,433.24
107 $246,433.24 $1,703.71 $0.00 $1,393.37 $249,530.32
108 $249,530.32 $1,703.71 $0.00 $1,410.88 $252,644.91
109 $252,644.91 $1,703.71 $0.00 $1,428.49 $255,777.11
110 $255,777.11 $1,703.71 $0.00 $1,446.20 $258,927.02
111 $258,927.02 $1,703.71 $0.00 $1,464.01 $262,094.74
112 $262,094.74 $1,703.71 $0.00 $1,481.92 $265,280.37
113 $265,280.37 $1,703.71 $0.00 $1,499.93 $268,484.01
114 $268,484.01 $1,703.71 $0.00 $1,518.05 $271,705.77
115 $271,705.77 $1,703.71 $0.00 $1,536.26 $274,945.74
116 $274,945.74 $1,703.71 $0.00 $1,554.58 $278,204.03
117 $278,204.03 $1,703.71 $0.00 $1,573.01 $281,480.75
118 $281,480.75 $1,703.71 $0.00 $1,591.53 $284,775.99
119 $284,775.99 $1,703.71 $0.00 $1,610.16 $288,089.86
120 $288,089.86 $1,703.71 $0.00 $1,628.90 $291,422.47
121 $291,422.47 $1,703.71 $0.00 $1,647.75 $294,773.93
122 $294,773.93 $1,703.71 $0.00 $1,666.69 $298,144.33
123 $298,144.33 $1,703.71 $0.00 $1,685.75 $301,533.79
124 $301,533.79 $1,703.71 $0.00 $1,704.92 $304,942.42
125 $304,942.42 $1,703.71 $0.00 $1,724.19 $308,370.32
126 $308,370.32 $1,703.71 $0.00 $1,743.57 $311,817.60
127 $311,817.60 $1,703.71 $0.00 $1,763.06 $315,284.37
128 $315,284.37 $1,703.71 $0.00 $1,782.66 $318,770.74
129 $318,770.74 $1,703.71 $0.00 $1,802.38 $322,276.83
130 $322,276.83 $1,703.71 $0.00 $1,822.20 $325,802.74
131 $325,802.74 $1,703.71 $0.00 $1,842.14 $329,348.59
132 $329,348.59 $1,703.71 $0.00 $1,862.18 $332,914.48
133 $332,914.48 $1,703.71 $0.00 $1,882.35 $336,500.54
134 $336,500.54 $1,703.71 $0.00 $1,902.62 $340,106.87
135 $340,106.87 $1,703.71 $0.00 $1,923.01 $343,733.59
136 $343,733.59 $1,703.71 $0.00 $1,943.52 $347,380.82
137 $347,380.82 $1,703.71 $0.00 $1,964.14 $351,048.67
138 $351,048.67 $1,703.71 $0.00 $1,984.88 $354,737.26
139 $354,737.26 $1,703.71 $0.00 $2,005.74 $358,446.71
140 $358,446.71 $1,703.71 $0.00 $2,026.71 $362,177.13
141 $362,177.13 $1,703.71 $0.00 $2,047.80 $365,928.64
142 $365,928.64 $1,703.71 $0.00 $2,069.01 $369,701.36
143 $369,701.36 $1,703.71 $0.00 $2,090.35 $373,495.42
144 $373,495.42 $1,703.71 $0.00 $2,111.80 $377,310.93
145 $377,310.93 $1,703.71 $0.00 $2,133.37 $381,148.01
146 $381,148.01 $1,703.71 $0.00 $2,155.07 $385,006.79
147 $385,006.79 $1,703.71 $0.00 $2,176.88 $388,887.38
148 $388,887.38 $1,703.71 $0.00 $2,198.83 $392,789.92
149 $392,789.92 $1,703.71 $0.00 $2,220.89 $396,714.52
150 $396,714.52 $1,703.71 $0.00 $2,243.08 $400,661.31
151 $400,661.31 $1,703.71 $0.00 $2,265.40 $404,630.42
152 $404,630.42 $1,703.71 $0.00 $2,287.84 $408,621.97
153 $408,621.97 $1,703.71 $0.00 $2,310.41 $412,636.09
154 $412,636.09 $1,703.71 $0.00 $2,333.10 $416,672.90
155 $416,672.90 $1,703.71 $0.00 $2,355.93 $420,732.54
156 $420,732.54 $1,703.71 $0.00 $2,378.88 $424,815.13
157 $424,815.13 $1,703.71 $0.00 $2,401.97 $428,920.81
158 $428,920.81 $1,703.71 $0.00 $2,425.18 $433,049.70
159 $433,049.70 $1,703.71 $0.00 $2,448.53 $437,201.94
160 $437,201.94 $1,703.71 $0.00 $2,472.00 $441,377.65
161 $441,377.65 $1,703.71 $0.00 $2,495.61 $445,576.97
162 $445,576.97 $1,703.71 $0.00 $2,519.36 $449,800.04
163 $449,800.04 $1,703.71 $0.00 $2,543.23 $454,046.98
164 $454,046.98 $1,703.71 $0.00 $2,567.25 $458,317.94
165 $458,317.94 $1,703.71 $0.00 $2,591.40 $462,613.05
166 $462,613.05 $1,703.71 $0.00 $2,615.68 $466,932.44
167 $466,932.44 $1,703.71 $0.00 $2,640.10 $471,276.25
168 $471,276.25 $1,703.71 $0.00 $2,664.66 $475,644.62
169 $475,644.62 $1,703.71 $0.00 $2,689.36 $480,037.69
170 $480,037.69 $1,703.71 $0.00 $2,714.20 $484,455.60
171 $484,455.60 $1,703.71 $0.00 $2,739.18 $488,898.49
172 $488,898.49 $1,703.71 $0.00 $2,764.30 $493,366.50
173 $493,366.50 $1,703.71 $0.00 $2,789.57 $497,859.78
174 $497,859.78 $1,703.71 $0.00 $2,814.97 $502,378.46
175 $502,378.46 $1,703.71 $0.00 $2,840.52 $506,922.69
176 $506,922.69 $1,703.71 $0.00 $2,866.21 $511,492.61
177 $511,492.61 $1,703.71 $0.00 $2,892.05 $516,088.37
178 $516,088.37 $1,703.71 $0.00 $2,918.04 $520,710.12
179 $520,710.12 $1,703.71 $0.00 $2,944.17 $525,358.00
180 $525,358.00 $1,703.71 $0.00 $2,970.45 $530,032.16
181 $530,032.16 $1,703.71 $0.00 $2,996.88 $534,732.75
182 $534,732.75 $1,703.71 $0.00 $3,023.46 $539,459.92
183 $539,459.92 $1,703.71 $0.00 $3,050.18 $544,213.81
184 $544,213.81 $1,703.71 $0.00 $3,077.06 $548,994.58
185 $548,994.58 $1,703.71 $0.00 $3,104.10 $553,802.39
186 $553,802.39 $1,703.71 $0.00 $3,131.28 $558,637.38
187 $558,637.38 $1,703.71 $0.00 $3,158.62 $563,499.71
188 $563,499.71 $1,703.71 $0.00 $3,186.11 $568,389.53
189 $568,389.53 $1,703.71 $0.00 $3,213.76 $573,307.00
190 $573,307.00 $1,703.71 $0.00 $3,241.56 $578,252.27
191 $578,252.27 $1,703.71 $0.00 $3,269.52 $583,225.50
192 $583,225.50 $1,703.71 $0.00 $3,297.64 $588,226.85
193 $588,226.85 $1,703.71 $0.00 $3,325.92 $593,256.48
194 $593,256.48 $1,703.71 $0.00 $3,354.36 $598,314.55
195 $598,314.55 $1,703.71 $0.00 $3,382.96 $603,401.22
196 $603,401.22 $1,703.71 $0.00 $3,411.72 $608,516.65
197 $608,516.65 $1,703.71 $0.00 $3,440.64 $613,661.00
198 $613,661.00 $1,703.71 $0.00 $3,469.73 $618,834.44
199 $618,834.44 $1,703.71 $0.00 $3,498.98 $624,037.13
200 $624,037.13 $1,703.71 $0.00 $3,528.40 $629,269.24
201 $629,269.24 $1,703.71 $0.00 $3,557.98 $634,530.93
202 $634,530.93 $1,703.71 $0.00 $3,587.73 $639,822.37
203 $639,822.37 $1,703.71 $0.00 $3,617.65 $645,143.73
204 $645,143.73 $1,703.71 $0.00 $3,647.74 $650,495.18
205 $650,495.18 $1,703.71 $0.00 $3,677.99 $655,876.88
206 $655,876.88 $1,703.71 $0.00 $3,708.42 $661,289.01
207 $661,289.01 $1,703.71 $0.00 $3,739.02 $666,731.74
208 $666,731.74 $1,703.71 $0.00 $3,769.80 $672,205.25
209 $672,205.25 $1,703.71 $0.00 $3,800.75 $677,709.71
210 $677,709.71 $1,703.71 $0.00 $3,831.87 $683,245.29
211 $683,245.29 $1,703.71 $0.00 $3,863.17 $688,812.17
212 $688,812.17 $1,703.71 $0.00 $3,894.64 $694,410.52
213 $694,410.52 $1,703.71 $0.00 $3,926.30 $700,040.53
214 $700,040.53 $1,703.71 $0.00 $3,958.13 $705,702.37
215 $705,702.37 $1,703.71 $0.00 $3,990.14 $711,396.22
216 $711,396.22 $1,703.71 $0.00 $4,022.34 $717,122.27
217 $717,122.27 $1,703.71 $194,210.91 $4,054.71 $528,669.78
218 $528,669.78 $1,703.71 $0.00 $2,989.18 $533,362.67
219 $533,362.67 $1,703.71 $0.00 $3,015.71 $538,082.09
220 $538,082.09 $1,703.71 $0.00 $3,042.39 $542,828.19
221 $542,828.19 $1,703.71 $0.00 $3,069.23 $547,601.13
222 $547,601.13 $1,703.71 $0.00 $3,096.22 $552,401.06
223 $552,401.06 $1,703.71 $0.00 $3,123.36 $557,228.13
224 $557,228.13 $1,703.71 $0.00 $3,150.65 $562,082.49
225 $562,082.49 $1,703.71 $0.00 $3,178.10 $566,964.30
226 $566,964.30 $1,703.71 $0.00 $3,205.70 $571,873.71
227 $571,873.71 $1,703.71 $0.00 $3,233.46 $576,810.88
228 $576,810.88 $1,703.71 $0.00 $3,261.37 $581,775.96
229 $581,775.96 $1,703.71 $207,805.67 $3,289.45 $378,963.45
230 $378,963.45 $1,703.71 $0.00 $2,142.71 $382,809.87
231 $382,809.87 $1,703.71 $0.00 $2,164.46 $386,678.04
232 $386,678.04 $1,703.71 $0.00 $2,186.33 $390,568.08
233 $390,568.08 $1,703.71 $0.00 $2,208.33 $394,480.12
234 $394,480.12 $1,703.71 $0.00 $2,230.45 $398,414.28
235 $398,414.28 $1,703.71 $0.00 $2,252.69 $402,370.68
236 $402,370.68 $1,703.71 $0.00 $2,275.06 $406,349.45
237 $406,349.45 $1,703.71 $0.00 $2,297.56 $410,350.72
238 $410,350.72 $1,703.71 $0.00 $2,320.18 $414,374.61
239 $414,374.61 $1,703.71 $0.00 $2,342.93 $418,421.25
240 $418,421.25 $1,703.71 $0.00 $2,365.81 $422,490.77
241 $422,490.77 $1,703.71 $222,352.07 $2,388.82 $204,231.23
242 $204,231.23 $1,703.71 $0.00 $1,154.75 $207,089.69
243 $207,089.69 $1,703.71 $0.00 $1,170.92 $209,964.32
244 $209,964.32 $1,703.71 $0.00 $1,187.17 $212,855.20
245 $212,855.20 $1,703.71 $0.00 $1,203.51 $215,762.42
246 $215,762.42 $1,703.71 $0.00 $1,219.95 $218,686.08
247 $218,686.08 $1,703.71 $0.00 $1,236.48 $221,626.27
248 $221,626.27 $1,703.71 $0.00 $1,253.11 $224,583.09
249 $224,583.09 $1,703.71 $0.00 $1,269.83 $227,556.63
250 $227,556.63 $1,703.71 $0.00 $1,286.64 $230,546.98
251 $230,546.98 $1,703.71 $0.00 $1,303.55 $233,554.24
252 $233,554.24 $1,703.71 $0.00 $1,320.55 $236,578.50
253 $236,578.50 $0.00 $237,916.71 $1,337.65 -$0.56