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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$71,458
Monthly savings required$566

How much will it cost to send your child to Goddard College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $285,833.70 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $565.67 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$27,556.00
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 $565.67 $0.00 $0.00 $565.67
2 $565.67 $565.67 $0.00 $3.20 $1,134.54
3 $1,134.54 $565.67 $0.00 $6.41 $1,706.62
4 $1,706.62 $565.67 $0.00 $9.65 $2,281.94
5 $2,281.94 $565.67 $0.00 $12.90 $2,860.51
6 $2,860.51 $565.67 $0.00 $16.17 $3,442.35
7 $3,442.35 $565.67 $0.00 $19.46 $4,027.48
8 $4,027.48 $565.67 $0.00 $22.77 $4,615.92
9 $4,615.92 $565.67 $0.00 $26.10 $5,207.69
10 $5,207.69 $565.67 $0.00 $29.45 $5,802.81
11 $5,802.81 $565.67 $0.00 $32.81 $6,401.29
12 $6,401.29 $565.67 $0.00 $36.19 $7,003.15
13 $7,003.15 $565.67 $0.00 $39.60 $7,608.42
14 $7,608.42 $565.67 $0.00 $43.02 $8,217.11
15 $8,217.11 $565.67 $0.00 $46.46 $8,829.24
16 $8,829.24 $565.67 $0.00 $49.92 $9,444.83
17 $9,444.83 $565.67 $0.00 $53.40 $10,063.90
18 $10,063.90 $565.67 $0.00 $56.90 $10,686.47
19 $10,686.47 $565.67 $0.00 $60.42 $11,312.56
20 $11,312.56 $565.67 $0.00 $63.96 $11,942.19
21 $11,942.19 $565.67 $0.00 $67.52 $12,575.38
22 $12,575.38 $565.67 $0.00 $71.10 $13,212.15
23 $13,212.15 $565.67 $0.00 $74.70 $13,852.52
24 $13,852.52 $565.67 $0.00 $78.32 $14,496.51
25 $14,496.51 $565.67 $0.00 $81.97 $15,144.15
26 $15,144.15 $565.67 $0.00 $85.63 $15,795.45
27 $15,795.45 $565.67 $0.00 $89.31 $16,450.43
28 $16,450.43 $565.67 $0.00 $93.01 $17,109.11
29 $17,109.11 $565.67 $0.00 $96.74 $17,771.52
30 $17,771.52 $565.67 $0.00 $100.48 $18,437.67
31 $18,437.67 $565.67 $0.00 $104.25 $19,107.59
32 $19,107.59 $565.67 $0.00 $108.04 $19,781.30
33 $19,781.30 $565.67 $0.00 $111.85 $20,458.82
34 $20,458.82 $565.67 $0.00 $115.68 $21,140.17
35 $21,140.17 $565.67 $0.00 $119.53 $21,825.37
36 $21,825.37 $565.67 $0.00 $123.40 $22,514.44
37 $22,514.44 $565.67 $0.00 $127.30 $23,207.41
38 $23,207.41 $565.67 $0.00 $131.22 $23,904.30
39 $23,904.30 $565.67 $0.00 $135.16 $24,605.13
40 $24,605.13 $565.67 $0.00 $139.12 $25,309.92
41 $25,309.92 $565.67 $0.00 $143.11 $26,018.70
42 $26,018.70 $565.67 $0.00 $147.11 $26,731.48
43 $26,731.48 $565.67 $0.00 $151.14 $27,448.29
44 $27,448.29 $565.67 $0.00 $155.20 $28,169.16
45 $28,169.16 $565.67 $0.00 $159.27 $28,894.10
46 $28,894.10 $565.67 $0.00 $163.37 $29,623.14
47 $29,623.14 $565.67 $0.00 $167.49 $30,356.30
48 $30,356.30 $565.67 $0.00 $171.64 $31,093.61
49 $31,093.61 $565.67 $0.00 $175.81 $31,835.09
50 $31,835.09 $565.67 $0.00 $180.00 $32,580.76
51 $32,580.76 $565.67 $0.00 $184.22 $33,330.65
52 $33,330.65 $565.67 $0.00 $188.46 $34,084.78
53 $34,084.78 $565.67 $0.00 $192.72 $34,843.17
54 $34,843.17 $565.67 $0.00 $197.01 $35,605.85
55 $35,605.85 $565.67 $0.00 $201.32 $36,372.84
56 $36,372.84 $565.67 $0.00 $205.66 $37,144.17
57 $37,144.17 $565.67 $0.00 $210.02 $37,919.86
58 $37,919.86 $565.67 $0.00 $214.40 $38,699.93
59 $38,699.93 $565.67 $0.00 $218.82 $39,484.42
60 $39,484.42 $565.67 $0.00 $223.25 $40,273.34
61 $40,273.34 $565.67 $0.00 $227.71 $41,066.72
62 $41,066.72 $565.67 $0.00 $232.20 $41,864.59
63 $41,864.59 $565.67 $0.00 $236.71 $42,666.97
64 $42,666.97 $565.67 $0.00 $241.25 $43,473.89
65 $43,473.89 $565.67 $0.00 $245.81 $44,285.37
66 $44,285.37 $565.67 $0.00 $250.40 $45,101.44
67 $45,101.44 $565.67 $0.00 $255.01 $45,922.12
68 $45,922.12 $565.67 $0.00 $259.65 $46,747.44
69 $46,747.44 $565.67 $0.00 $264.32 $47,577.43
70 $47,577.43 $565.67 $0.00 $269.01 $48,412.11
71 $48,412.11 $565.67 $0.00 $273.73 $49,251.51
72 $49,251.51 $565.67 $0.00 $278.48 $50,095.66
73 $50,095.66 $565.67 $0.00 $283.25 $50,944.58
74 $50,944.58 $565.67 $0.00 $288.05 $51,798.30
75 $51,798.30 $565.67 $0.00 $292.88 $52,656.85
76 $52,656.85 $565.67 $0.00 $297.73 $53,520.25
77 $53,520.25 $565.67 $0.00 $302.61 $54,388.53
78 $54,388.53 $565.67 $0.00 $307.52 $55,261.72
79 $55,261.72 $565.67 $0.00 $312.46 $56,139.85
80 $56,139.85 $565.67 $0.00 $317.42 $57,022.94
81 $57,022.94 $565.67 $0.00 $322.42 $57,911.03
82 $57,911.03 $565.67 $0.00 $327.44 $58,804.14
83 $58,804.14 $565.67 $0.00 $332.49 $59,702.30
84 $59,702.30 $565.67 $0.00 $337.57 $60,605.54
85 $60,605.54 $565.67 $0.00 $342.67 $61,513.88
86 $61,513.88 $565.67 $0.00 $347.81 $62,427.36
87 $62,427.36 $565.67 $0.00 $352.97 $63,346.00
88 $63,346.00 $565.67 $0.00 $358.17 $64,269.84
89 $64,269.84 $565.67 $0.00 $363.39 $65,198.90
90 $65,198.90 $565.67 $0.00 $368.64 $66,133.21
91 $66,133.21 $565.67 $0.00 $373.93 $67,072.81
92 $67,072.81 $565.67 $0.00 $379.24 $68,017.72
93 $68,017.72 $565.67 $0.00 $384.58 $68,967.97
94 $68,967.97 $565.67 $0.00 $389.95 $69,923.59
95 $69,923.59 $565.67 $0.00 $395.36 $70,884.62
96 $70,884.62 $565.67 $0.00 $400.79 $71,851.08
97 $71,851.08 $565.67 $0.00 $406.26 $72,823.01
98 $72,823.01 $565.67 $0.00 $411.75 $73,800.43
99 $73,800.43 $565.67 $0.00 $417.28 $74,783.38
100 $74,783.38 $565.67 $0.00 $422.84 $75,771.89
101 $75,771.89 $565.67 $0.00 $428.43 $76,765.99
102 $76,765.99 $565.67 $0.00 $434.05 $77,765.71
103 $77,765.71 $565.67 $0.00 $439.70 $78,771.08
104 $78,771.08 $565.67 $0.00 $445.38 $79,782.13
105 $79,782.13 $565.67 $0.00 $451.10 $80,798.90
106 $80,798.90 $565.67 $0.00 $456.85 $81,821.42
107 $81,821.42 $565.67 $0.00 $462.63 $82,849.72
108 $82,849.72 $565.67 $0.00 $468.44 $83,883.83
109 $83,883.83 $565.67 $0.00 $474.29 $84,923.79
110 $84,923.79 $565.67 $0.00 $480.17 $85,969.63
111 $85,969.63 $565.67 $0.00 $486.08 $87,021.38
112 $87,021.38 $565.67 $0.00 $492.03 $88,079.08
113 $88,079.08 $565.67 $0.00 $498.01 $89,142.76
114 $89,142.76 $565.67 $0.00 $504.03 $90,212.46
115 $90,212.46 $565.67 $0.00 $510.07 $91,288.20
116 $91,288.20 $565.67 $0.00 $516.16 $92,370.03
117 $92,370.03 $565.67 $0.00 $522.27 $93,457.97
118 $93,457.97 $565.67 $0.00 $528.42 $94,552.06
119 $94,552.06 $565.67 $0.00 $534.61 $95,652.34
120 $95,652.34 $565.67 $0.00 $540.83 $96,758.84
121 $96,758.84 $565.67 $0.00 $547.09 $97,871.60
122 $97,871.60 $565.67 $0.00 $553.38 $98,990.65
123 $98,990.65 $565.67 $0.00 $559.71 $100,116.03
124 $100,116.03 $565.67 $0.00 $566.07 $101,247.77
125 $101,247.77 $565.67 $0.00 $572.47 $102,385.91
126 $102,385.91 $565.67 $0.00 $578.90 $103,530.48
127 $103,530.48 $565.67 $0.00 $585.38 $104,681.53
128 $104,681.53 $565.67 $0.00 $591.88 $105,839.08
129 $105,839.08 $565.67 $0.00 $598.43 $107,003.18
130 $107,003.18 $565.67 $0.00 $605.01 $108,173.86
131 $108,173.86 $565.67 $0.00 $611.63 $109,351.16
132 $109,351.16 $565.67 $0.00 $618.29 $110,535.12
133 $110,535.12 $565.67 $0.00 $624.98 $111,725.77
134 $111,725.77 $565.67 $0.00 $631.71 $112,923.15
135 $112,923.15 $565.67 $0.00 $638.48 $114,127.30
136 $114,127.30 $565.67 $0.00 $645.29 $115,338.26
137 $115,338.26 $565.67 $0.00 $652.14 $116,556.07
138 $116,556.07 $565.67 $0.00 $659.02 $117,780.76
139 $117,780.76 $565.67 $0.00 $665.95 $119,012.38
140 $119,012.38 $565.67 $0.00 $672.91 $120,250.96
141 $120,250.96 $565.67 $0.00 $679.92 $121,496.55
142 $121,496.55 $565.67 $0.00 $686.96 $122,749.18
143 $122,749.18 $565.67 $0.00 $694.04 $124,008.89
144 $124,008.89 $565.67 $0.00 $701.16 $125,275.72
145 $125,275.72 $565.67 $0.00 $708.33 $126,549.72
146 $126,549.72 $565.67 $0.00 $715.53 $127,830.92
147 $127,830.92 $565.67 $0.00 $722.77 $129,119.36
148 $129,119.36 $565.67 $0.00 $730.06 $130,415.09
149 $130,415.09 $565.67 $0.00 $737.39 $131,718.15
150 $131,718.15 $565.67 $0.00 $744.75 $133,028.57
151 $133,028.57 $565.67 $0.00 $752.16 $134,346.40
152 $134,346.40 $565.67 $0.00 $759.61 $135,671.68
153 $135,671.68 $565.67 $0.00 $767.11 $137,004.46
154 $137,004.46 $565.67 $0.00 $774.64 $138,344.77
155 $138,344.77 $565.67 $0.00 $782.22 $139,692.66
156 $139,692.66 $565.67 $0.00 $789.84 $141,048.17
157 $141,048.17 $565.67 $0.00 $797.51 $142,411.35
158 $142,411.35 $565.67 $0.00 $805.21 $143,782.23
159 $143,782.23 $565.67 $0.00 $812.97 $145,160.87
160 $145,160.87 $565.67 $0.00 $820.76 $146,547.30
161 $146,547.30 $565.67 $0.00 $828.60 $147,941.57
162 $147,941.57 $565.67 $0.00 $836.48 $149,343.72
163 $149,343.72 $565.67 $0.00 $844.41 $150,753.80
164 $150,753.80 $565.67 $0.00 $852.38 $152,171.85
165 $152,171.85 $565.67 $0.00 $860.40 $153,597.92
166 $153,597.92 $565.67 $0.00 $868.46 $155,032.05
167 $155,032.05 $565.67 $0.00 $876.57 $156,474.29
168 $156,474.29 $565.67 $0.00 $884.73 $157,924.69
169 $157,924.69 $565.67 $0.00 $892.93 $159,383.29
170 $159,383.29 $565.67 $0.00 $901.18 $160,850.14
171 $160,850.14 $565.67 $0.00 $909.47 $162,325.28
172 $162,325.28 $565.67 $0.00 $917.81 $163,808.76
173 $163,808.76 $565.67 $0.00 $926.20 $165,300.63
174 $165,300.63 $565.67 $0.00 $934.63 $166,800.93
175 $166,800.93 $565.67 $0.00 $943.12 $168,309.72
176 $168,309.72 $565.67 $0.00 $951.65 $169,827.04
177 $169,827.04 $565.67 $0.00 $960.23 $171,352.94
178 $171,352.94 $565.67 $0.00 $968.85 $172,887.46
179 $172,887.46 $565.67 $0.00 $977.53 $174,430.66
180 $174,430.66 $565.67 $0.00 $986.26 $175,982.59
181 $175,982.59 $565.67 $0.00 $995.03 $177,543.29
182 $177,543.29 $565.67 $0.00 $1,003.86 $179,112.82
183 $179,112.82 $565.67 $0.00 $1,012.73 $180,691.22
184 $180,691.22 $565.67 $0.00 $1,021.65 $182,278.54
185 $182,278.54 $565.67 $0.00 $1,030.63 $183,874.84
186 $183,874.84 $565.67 $0.00 $1,039.66 $185,480.17
187 $185,480.17 $565.67 $0.00 $1,048.73 $187,094.57
188 $187,094.57 $565.67 $0.00 $1,057.86 $188,718.10
189 $188,718.10 $565.67 $0.00 $1,067.04 $190,350.81
190 $190,350.81 $565.67 $0.00 $1,076.27 $191,992.75
191 $191,992.75 $565.67 $0.00 $1,085.55 $193,643.97
192 $193,643.97 $565.67 $0.00 $1,094.89 $195,304.53
193 $195,304.53 $565.67 $0.00 $1,104.28 $196,974.48
194 $196,974.48 $565.67 $0.00 $1,113.72 $198,653.87
195 $198,653.87 $565.67 $0.00 $1,123.22 $200,342.76
196 $200,342.76 $565.67 $0.00 $1,132.77 $202,041.20
197 $202,041.20 $565.67 $0.00 $1,142.37 $203,749.24
198 $203,749.24 $565.67 $0.00 $1,152.03 $205,466.94
199 $205,466.94 $565.67 $0.00 $1,161.74 $207,194.35
200 $207,194.35 $565.67 $0.00 $1,171.51 $208,931.53
201 $208,931.53 $565.67 $0.00 $1,181.33 $210,678.53
202 $210,678.53 $565.67 $0.00 $1,191.21 $212,435.41
203 $212,435.41 $565.67 $0.00 $1,201.14 $214,202.22
204 $214,202.22 $565.67 $0.00 $1,211.13 $215,979.02
205 $215,979.02 $565.67 $0.00 $1,221.18 $217,765.87
206 $217,765.87 $565.67 $0.00 $1,231.28 $219,562.82
207 $219,562.82 $565.67 $0.00 $1,241.44 $221,369.93
208 $221,369.93 $565.67 $0.00 $1,251.66 $223,187.26
209 $223,187.26 $565.67 $0.00 $1,261.93 $225,014.86
210 $225,014.86 $565.67 $0.00 $1,272.27 $226,852.80
211 $226,852.80 $565.67 $0.00 $1,282.66 $228,701.13
212 $228,701.13 $565.67 $0.00 $1,293.11 $230,559.91
213 $230,559.91 $565.67 $0.00 $1,303.62 $232,429.20
214 $232,429.20 $565.67 $0.00 $1,314.19 $234,309.06
215 $234,309.06 $565.67 $0.00 $1,324.82 $236,199.55
216 $236,199.55 $565.67 $0.00 $1,335.51 $238,100.73
217 $238,100.73 $565.67 $66,316.80 $1,346.26 $173,695.86
218 $173,695.86 $565.67 $0.00 $982.10 $175,243.63
219 $175,243.63 $565.67 $0.00 $990.85 $176,800.15
220 $176,800.15 $565.67 $0.00 $999.65 $178,365.47
221 $178,365.47 $565.67 $0.00 $1,008.50 $179,939.64
222 $179,939.64 $565.67 $0.00 $1,017.40 $181,522.71
223 $181,522.71 $565.67 $0.00 $1,026.36 $183,114.74
224 $183,114.74 $565.67 $0.00 $1,035.36 $184,715.77
225 $184,715.77 $565.67 $0.00 $1,044.41 $186,325.85
226 $186,325.85 $565.67 $0.00 $1,053.51 $187,945.03
227 $187,945.03 $565.67 $0.00 $1,062.67 $189,573.37
228 $189,573.37 $565.67 $0.00 $1,071.88 $191,210.92
229 $191,210.92 $565.67 $69,632.64 $1,081.13 $123,225.08
230 $123,225.08 $565.67 $0.00 $696.73 $124,487.48
231 $124,487.48 $565.67 $0.00 $703.87 $125,757.02
232 $125,757.02 $565.67 $0.00 $711.05 $127,033.74
233 $127,033.74 $565.67 $0.00 $718.27 $128,317.68
234 $128,317.68 $565.67 $0.00 $725.53 $129,608.88
235 $129,608.88 $565.67 $0.00 $732.83 $130,907.38
236 $130,907.38 $565.67 $0.00 $740.17 $132,213.22
237 $132,213.22 $565.67 $0.00 $747.55 $133,526.44
238 $133,526.44 $565.67 $0.00 $754.98 $134,847.09
239 $134,847.09 $565.67 $0.00 $762.45 $136,175.21
240 $136,175.21 $565.67 $0.00 $769.95 $137,510.83
241 $137,510.83 $565.67 $73,114.27 $777.51 $65,739.74
242 $65,739.74 $565.67 $0.00 $371.70 $66,677.11
243 $66,677.11 $565.67 $0.00 $377.00 $67,619.78
244 $67,619.78 $565.67 $0.00 $382.33 $68,567.78
245 $68,567.78 $565.67 $0.00 $387.69 $69,521.14
246 $69,521.14 $565.67 $0.00 $393.08 $70,479.89
247 $70,479.89 $565.67 $0.00 $398.50 $71,444.06
248 $71,444.06 $565.67 $0.00 $403.96 $72,413.69
249 $72,413.69 $565.67 $0.00 $409.44 $73,388.80
250 $73,388.80 $565.67 $0.00 $414.95 $74,369.42
251 $74,369.42 $565.67 $0.00 $420.50 $75,355.59
252 $75,355.59 $565.67 $0.00 $426.07 $76,347.33
253 $76,347.33 $0.00 $76,769.99 $431.68 $9.02