Savings Plan and Future Cost Estimation for Wofford College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$169,033
Monthly savings required$1,338

How much will it cost to send your child to Wofford College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $676,132.16 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,338.04 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$65,183.00
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 $1,338.04 $0.00 $0.00 $1,338.04
2 $1,338.04 $1,338.04 $0.00 $7.57 $2,683.65
3 $2,683.65 $1,338.04 $0.00 $15.17 $4,036.86
4 $4,036.86 $1,338.04 $0.00 $22.82 $5,397.72
5 $5,397.72 $1,338.04 $0.00 $30.52 $6,766.28
6 $6,766.28 $1,338.04 $0.00 $38.26 $8,142.58
7 $8,142.58 $1,338.04 $0.00 $46.04 $9,526.66
8 $9,526.66 $1,338.04 $0.00 $53.87 $10,918.57
9 $10,918.57 $1,338.04 $0.00 $61.74 $12,318.35
10 $12,318.35 $1,338.04 $0.00 $69.65 $13,726.04
11 $13,726.04 $1,338.04 $0.00 $77.61 $15,141.69
12 $15,141.69 $1,338.04 $0.00 $85.61 $16,565.34
13 $16,565.34 $1,338.04 $0.00 $93.66 $17,997.04
14 $17,997.04 $1,338.04 $0.00 $101.76 $19,436.84
15 $19,436.84 $1,338.04 $0.00 $109.90 $20,884.78
16 $20,884.78 $1,338.04 $0.00 $118.09 $22,340.91
17 $22,340.91 $1,338.04 $0.00 $126.32 $23,805.27
18 $23,805.27 $1,338.04 $0.00 $134.60 $25,277.91
19 $25,277.91 $1,338.04 $0.00 $142.92 $26,758.87
20 $26,758.87 $1,338.04 $0.00 $151.30 $28,248.21
21 $28,248.21 $1,338.04 $0.00 $159.72 $29,745.97
22 $29,745.97 $1,338.04 $0.00 $168.19 $31,252.20
23 $31,252.20 $1,338.04 $0.00 $176.70 $32,766.94
24 $32,766.94 $1,338.04 $0.00 $185.27 $34,290.25
25 $34,290.25 $1,338.04 $0.00 $193.88 $35,822.17
26 $35,822.17 $1,338.04 $0.00 $202.54 $37,362.75
27 $37,362.75 $1,338.04 $0.00 $211.25 $38,912.04
28 $38,912.04 $1,338.04 $0.00 $220.01 $40,470.09
29 $40,470.09 $1,338.04 $0.00 $228.82 $42,036.95
30 $42,036.95 $1,338.04 $0.00 $237.68 $43,612.67
31 $43,612.67 $1,338.04 $0.00 $246.59 $45,197.30
32 $45,197.30 $1,338.04 $0.00 $255.55 $46,790.89
33 $46,790.89 $1,338.04 $0.00 $264.56 $48,393.49
34 $48,393.49 $1,338.04 $0.00 $273.62 $50,005.15
35 $50,005.15 $1,338.04 $0.00 $282.74 $51,625.93
36 $51,625.93 $1,338.04 $0.00 $291.90 $53,255.87
37 $53,255.87 $1,338.04 $0.00 $301.12 $54,895.03
38 $54,895.03 $1,338.04 $0.00 $310.38 $56,543.45
39 $56,543.45 $1,338.04 $0.00 $319.70 $58,201.19
40 $58,201.19 $1,338.04 $0.00 $329.08 $59,868.31
41 $59,868.31 $1,338.04 $0.00 $338.50 $61,544.85
42 $61,544.85 $1,338.04 $0.00 $347.98 $63,230.87
43 $63,230.87 $1,338.04 $0.00 $357.52 $64,926.43
44 $64,926.43 $1,338.04 $0.00 $367.10 $66,631.57
45 $66,631.57 $1,338.04 $0.00 $376.74 $68,346.35
46 $68,346.35 $1,338.04 $0.00 $386.44 $70,070.83
47 $70,070.83 $1,338.04 $0.00 $396.19 $71,805.06
48 $71,805.06 $1,338.04 $0.00 $406.00 $73,549.10
49 $73,549.10 $1,338.04 $0.00 $415.86 $75,303.00
50 $75,303.00 $1,338.04 $0.00 $425.77 $77,066.81
51 $77,066.81 $1,338.04 $0.00 $435.75 $78,840.60
52 $78,840.60 $1,338.04 $0.00 $445.78 $80,624.42
53 $80,624.42 $1,338.04 $0.00 $455.86 $82,418.32
54 $82,418.32 $1,338.04 $0.00 $466.01 $84,222.37
55 $84,222.37 $1,338.04 $0.00 $476.21 $86,036.62
56 $86,036.62 $1,338.04 $0.00 $486.46 $87,861.12
57 $87,861.12 $1,338.04 $0.00 $496.78 $89,695.94
58 $89,695.94 $1,338.04 $0.00 $507.15 $91,541.13
59 $91,541.13 $1,338.04 $0.00 $517.59 $93,396.76
60 $93,396.76 $1,338.04 $0.00 $528.08 $95,262.88
61 $95,262.88 $1,338.04 $0.00 $538.63 $97,139.55
62 $97,139.55 $1,338.04 $0.00 $549.24 $99,026.83
63 $99,026.83 $1,338.04 $0.00 $559.91 $100,924.78
64 $100,924.78 $1,338.04 $0.00 $570.64 $102,833.46
65 $102,833.46 $1,338.04 $0.00 $581.44 $104,752.94
66 $104,752.94 $1,338.04 $0.00 $592.29 $106,683.27
67 $106,683.27 $1,338.04 $0.00 $603.20 $108,624.51
68 $108,624.51 $1,338.04 $0.00 $614.18 $110,576.73
69 $110,576.73 $1,338.04 $0.00 $625.22 $112,539.99
70 $112,539.99 $1,338.04 $0.00 $636.32 $114,514.35
71 $114,514.35 $1,338.04 $0.00 $647.48 $116,499.87
72 $116,499.87 $1,338.04 $0.00 $658.71 $118,496.62
73 $118,496.62 $1,338.04 $0.00 $670.00 $120,504.66
74 $120,504.66 $1,338.04 $0.00 $681.35 $122,524.05
75 $122,524.05 $1,338.04 $0.00 $692.77 $124,554.86
76 $124,554.86 $1,338.04 $0.00 $704.25 $126,597.15
77 $126,597.15 $1,338.04 $0.00 $715.80 $128,650.99
78 $128,650.99 $1,338.04 $0.00 $727.41 $130,716.44
79 $130,716.44 $1,338.04 $0.00 $739.09 $132,793.57
80 $132,793.57 $1,338.04 $0.00 $750.83 $134,882.44
81 $134,882.44 $1,338.04 $0.00 $762.64 $136,983.12
82 $136,983.12 $1,338.04 $0.00 $774.52 $139,095.68
83 $139,095.68 $1,338.04 $0.00 $786.47 $141,220.19
84 $141,220.19 $1,338.04 $0.00 $798.48 $143,356.71
85 $143,356.71 $1,338.04 $0.00 $810.56 $145,505.31
86 $145,505.31 $1,338.04 $0.00 $822.71 $147,666.06
87 $147,666.06 $1,338.04 $0.00 $834.93 $149,839.03
88 $149,839.03 $1,338.04 $0.00 $847.21 $152,024.28
89 $152,024.28 $1,338.04 $0.00 $859.57 $154,221.89
90 $154,221.89 $1,338.04 $0.00 $871.99 $156,431.92
91 $156,431.92 $1,338.04 $0.00 $884.49 $158,654.45
92 $158,654.45 $1,338.04 $0.00 $897.06 $160,889.55
93 $160,889.55 $1,338.04 $0.00 $909.69 $163,137.28
94 $163,137.28 $1,338.04 $0.00 $922.40 $165,397.72
95 $165,397.72 $1,338.04 $0.00 $935.18 $167,670.94
96 $167,670.94 $1,338.04 $0.00 $948.04 $169,957.02
97 $169,957.02 $1,338.04 $0.00 $960.96 $172,256.02
98 $172,256.02 $1,338.04 $0.00 $973.96 $174,568.02
99 $174,568.02 $1,338.04 $0.00 $987.03 $176,893.09
100 $176,893.09 $1,338.04 $0.00 $1,000.18 $179,231.31
101 $179,231.31 $1,338.04 $0.00 $1,013.40 $181,582.75
102 $181,582.75 $1,338.04 $0.00 $1,026.70 $183,947.49
103 $183,947.49 $1,338.04 $0.00 $1,040.07 $186,325.60
104 $186,325.60 $1,338.04 $0.00 $1,053.51 $188,717.15
105 $188,717.15 $1,338.04 $0.00 $1,067.03 $191,122.22
106 $191,122.22 $1,338.04 $0.00 $1,080.63 $193,540.89
107 $193,540.89 $1,338.04 $0.00 $1,094.31 $195,973.24
108 $195,973.24 $1,338.04 $0.00 $1,108.06 $198,419.34
109 $198,419.34 $1,338.04 $0.00 $1,121.89 $200,879.27
110 $200,879.27 $1,338.04 $0.00 $1,135.80 $203,353.11
111 $203,353.11 $1,338.04 $0.00 $1,149.79 $205,840.94
112 $205,840.94 $1,338.04 $0.00 $1,163.85 $208,342.83
113 $208,342.83 $1,338.04 $0.00 $1,178.00 $210,858.87
114 $210,858.87 $1,338.04 $0.00 $1,192.23 $213,389.14
115 $213,389.14 $1,338.04 $0.00 $1,206.53 $215,933.71
116 $215,933.71 $1,338.04 $0.00 $1,220.92 $218,492.67
117 $218,492.67 $1,338.04 $0.00 $1,235.39 $221,066.10
118 $221,066.10 $1,338.04 $0.00 $1,249.94 $223,654.08
119 $223,654.08 $1,338.04 $0.00 $1,264.57 $226,256.69
120 $226,256.69 $1,338.04 $0.00 $1,279.29 $228,874.02
121 $228,874.02 $1,338.04 $0.00 $1,294.09 $231,506.15
122 $231,506.15 $1,338.04 $0.00 $1,308.97 $234,153.16
123 $234,153.16 $1,338.04 $0.00 $1,323.94 $236,815.14
124 $236,815.14 $1,338.04 $0.00 $1,338.99 $239,492.17
125 $239,492.17 $1,338.04 $0.00 $1,354.12 $242,184.33
126 $242,184.33 $1,338.04 $0.00 $1,369.35 $244,891.72
127 $244,891.72 $1,338.04 $0.00 $1,384.65 $247,614.41
128 $247,614.41 $1,338.04 $0.00 $1,400.05 $250,352.50
129 $250,352.50 $1,338.04 $0.00 $1,415.53 $253,106.07
130 $253,106.07 $1,338.04 $0.00 $1,431.10 $255,875.21
131 $255,875.21 $1,338.04 $0.00 $1,446.76 $258,660.01
132 $258,660.01 $1,338.04 $0.00 $1,462.50 $261,460.55
133 $261,460.55 $1,338.04 $0.00 $1,478.34 $264,276.93
134 $264,276.93 $1,338.04 $0.00 $1,494.26 $267,109.23
135 $267,109.23 $1,338.04 $0.00 $1,510.27 $269,957.54
136 $269,957.54 $1,338.04 $0.00 $1,526.38 $272,821.96
137 $272,821.96 $1,338.04 $0.00 $1,542.58 $275,702.58
138 $275,702.58 $1,338.04 $0.00 $1,558.86 $278,599.48
139 $278,599.48 $1,338.04 $0.00 $1,575.24 $281,512.76
140 $281,512.76 $1,338.04 $0.00 $1,591.71 $284,442.51
141 $284,442.51 $1,338.04 $0.00 $1,608.28 $287,388.83
142 $287,388.83 $1,338.04 $0.00 $1,624.94 $290,351.81
143 $290,351.81 $1,338.04 $0.00 $1,641.69 $293,331.54
144 $293,331.54 $1,338.04 $0.00 $1,658.54 $296,328.12
145 $296,328.12 $1,338.04 $0.00 $1,675.48 $299,341.64
146 $299,341.64 $1,338.04 $0.00 $1,692.52 $302,372.20
147 $302,372.20 $1,338.04 $0.00 $1,709.66 $305,419.90
148 $305,419.90 $1,338.04 $0.00 $1,726.89 $308,484.83
149 $308,484.83 $1,338.04 $0.00 $1,744.22 $311,567.09
150 $311,567.09 $1,338.04 $0.00 $1,761.65 $314,666.78
151 $314,666.78 $1,338.04 $0.00 $1,779.17 $317,783.99
152 $317,783.99 $1,338.04 $0.00 $1,796.80 $320,918.83
153 $320,918.83 $1,338.04 $0.00 $1,814.52 $324,071.39
154 $324,071.39 $1,338.04 $0.00 $1,832.35 $327,241.78
155 $327,241.78 $1,338.04 $0.00 $1,850.27 $330,430.09
156 $330,430.09 $1,338.04 $0.00 $1,868.30 $333,636.43
157 $333,636.43 $1,338.04 $0.00 $1,886.43 $336,860.90
158 $336,860.90 $1,338.04 $0.00 $1,904.66 $340,103.60
159 $340,103.60 $1,338.04 $0.00 $1,923.00 $343,364.64
160 $343,364.64 $1,338.04 $0.00 $1,941.43 $346,644.11
161 $346,644.11 $1,338.04 $0.00 $1,959.98 $349,942.13
162 $349,942.13 $1,338.04 $0.00 $1,978.62 $353,258.79
163 $353,258.79 $1,338.04 $0.00 $1,997.38 $356,594.21
164 $356,594.21 $1,338.04 $0.00 $2,016.24 $359,948.49
165 $359,948.49 $1,338.04 $0.00 $2,035.20 $363,321.73
166 $363,321.73 $1,338.04 $0.00 $2,054.27 $366,714.04
167 $366,714.04 $1,338.04 $0.00 $2,073.45 $370,125.53
168 $370,125.53 $1,338.04 $0.00 $2,092.74 $373,556.31
169 $373,556.31 $1,338.04 $0.00 $2,112.14 $377,006.49
170 $377,006.49 $1,338.04 $0.00 $2,131.65 $380,476.18
171 $380,476.18 $1,338.04 $0.00 $2,151.27 $383,965.49
172 $383,965.49 $1,338.04 $0.00 $2,171.00 $387,474.53
173 $387,474.53 $1,338.04 $0.00 $2,190.84 $391,003.41
174 $391,003.41 $1,338.04 $0.00 $2,210.79 $394,552.24
175 $394,552.24 $1,338.04 $0.00 $2,230.86 $398,121.14
176 $398,121.14 $1,338.04 $0.00 $2,251.03 $401,710.21
177 $401,710.21 $1,338.04 $0.00 $2,271.33 $405,319.58
178 $405,319.58 $1,338.04 $0.00 $2,291.74 $408,949.36
179 $408,949.36 $1,338.04 $0.00 $2,312.26 $412,599.66
180 $412,599.66 $1,338.04 $0.00 $2,332.90 $416,270.60
181 $416,270.60 $1,338.04 $0.00 $2,353.65 $419,962.29
182 $419,962.29 $1,338.04 $0.00 $2,374.53 $423,674.86
183 $423,674.86 $1,338.04 $0.00 $2,395.52 $427,408.42
184 $427,408.42 $1,338.04 $0.00 $2,416.63 $431,163.09
185 $431,163.09 $1,338.04 $0.00 $2,437.86 $434,938.99
186 $434,938.99 $1,338.04 $0.00 $2,459.21 $438,736.24
187 $438,736.24 $1,338.04 $0.00 $2,480.68 $442,554.96
188 $442,554.96 $1,338.04 $0.00 $2,502.27 $446,395.27
189 $446,395.27 $1,338.04 $0.00 $2,523.98 $450,257.29
190 $450,257.29 $1,338.04 $0.00 $2,545.82 $454,141.15
191 $454,141.15 $1,338.04 $0.00 $2,567.78 $458,046.97
192 $458,046.97 $1,338.04 $0.00 $2,589.86 $461,974.87
193 $461,974.87 $1,338.04 $0.00 $2,612.07 $465,924.98
194 $465,924.98 $1,338.04 $0.00 $2,634.41 $469,897.43
195 $469,897.43 $1,338.04 $0.00 $2,656.87 $473,892.34
196 $473,892.34 $1,338.04 $0.00 $2,679.46 $477,909.84
197 $477,909.84 $1,338.04 $0.00 $2,702.17 $481,950.05
198 $481,950.05 $1,338.04 $0.00 $2,725.02 $486,013.11
199 $486,013.11 $1,338.04 $0.00 $2,747.99 $490,099.14
200 $490,099.14 $1,338.04 $0.00 $2,771.09 $494,208.27
201 $494,208.27 $1,338.04 $0.00 $2,794.33 $498,340.64
202 $498,340.64 $1,338.04 $0.00 $2,817.69 $502,496.37
203 $502,496.37 $1,338.04 $0.00 $2,841.19 $506,675.60
204 $506,675.60 $1,338.04 $0.00 $2,864.82 $510,878.46
205 $510,878.46 $1,338.04 $0.00 $2,888.58 $515,105.08
206 $515,105.08 $1,338.04 $0.00 $2,912.48 $519,355.60
207 $519,355.60 $1,338.04 $0.00 $2,936.51 $523,630.15
208 $523,630.15 $1,338.04 $0.00 $2,960.68 $527,928.87
209 $527,928.87 $1,338.04 $0.00 $2,984.99 $532,251.90
210 $532,251.90 $1,338.04 $0.00 $3,009.43 $536,599.37
211 $536,599.37 $1,338.04 $0.00 $3,034.01 $540,971.42
212 $540,971.42 $1,338.04 $0.00 $3,058.73 $545,368.19
213 $545,368.19 $1,338.04 $0.00 $3,083.59 $549,789.82
214 $549,789.82 $1,338.04 $0.00 $3,108.59 $554,236.45
215 $554,236.45 $1,338.04 $0.00 $3,133.73 $558,708.22
216 $558,708.22 $1,338.04 $0.00 $3,159.02 $563,205.28
217 $563,205.28 $1,338.04 $156,870.66 $3,184.44 $410,857.10
218 $410,857.10 $1,338.04 $0.00 $2,323.05 $414,518.19
219 $414,518.19 $1,338.04 $0.00 $2,343.75 $418,199.98
220 $418,199.98 $1,338.04 $0.00 $2,364.56 $421,902.58
221 $421,902.58 $1,338.04 $0.00 $2,385.50 $425,626.12
222 $425,626.12 $1,338.04 $0.00 $2,406.55 $429,370.71
223 $429,370.71 $1,338.04 $0.00 $2,427.72 $433,136.47
224 $433,136.47 $1,338.04 $0.00 $2,449.02 $436,923.53
225 $436,923.53 $1,338.04 $0.00 $2,470.43 $440,732.00
226 $440,732.00 $1,338.04 $0.00 $2,491.96 $444,562.00
227 $444,562.00 $1,338.04 $0.00 $2,513.62 $448,413.66
228 $448,413.66 $1,338.04 $0.00 $2,535.40 $452,287.10
229 $452,287.10 $1,338.04 $164,714.19 $2,557.30 $291,468.25
230 $291,468.25 $1,338.04 $0.00 $1,648.00 $294,454.29
231 $294,454.29 $1,338.04 $0.00 $1,664.89 $297,457.22
232 $297,457.22 $1,338.04 $0.00 $1,681.87 $300,477.13
233 $300,477.13 $1,338.04 $0.00 $1,698.94 $303,514.11
234 $303,514.11 $1,338.04 $0.00 $1,716.11 $306,568.26
235 $306,568.26 $1,338.04 $0.00 $1,733.38 $309,639.68
236 $309,639.68 $1,338.04 $0.00 $1,750.75 $312,728.47
237 $312,728.47 $1,338.04 $0.00 $1,768.21 $315,834.72
238 $315,834.72 $1,338.04 $0.00 $1,785.78 $318,958.54
239 $318,958.54 $1,338.04 $0.00 $1,803.44 $322,100.02
240 $322,100.02 $1,338.04 $0.00 $1,821.20 $325,259.26
241 $325,259.26 $1,338.04 $172,949.90 $1,839.06 $155,486.46
242 $155,486.46 $1,338.04 $0.00 $879.14 $157,703.64
243 $157,703.64 $1,338.04 $0.00 $891.68 $159,933.36
244 $159,933.36 $1,338.04 $0.00 $904.29 $162,175.69
245 $162,175.69 $1,338.04 $0.00 $916.96 $164,430.69
246 $164,430.69 $1,338.04 $0.00 $929.72 $166,698.45
247 $166,698.45 $1,338.04 $0.00 $942.54 $168,979.03
248 $168,979.03 $1,338.04 $0.00 $955.43 $171,272.50
249 $171,272.50 $1,338.04 $0.00 $968.40 $173,578.94
250 $173,578.94 $1,338.04 $0.00 $981.44 $175,898.42
251 $175,898.42 $1,338.04 $0.00 $994.56 $178,231.02
252 $178,231.02 $1,338.04 $0.00 $1,007.74 $180,576.80
253 $180,576.80 $0.00 $181,597.40 $1,021.01 $0.41