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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$70,613
Monthly savings required$559

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 $282,452.15 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $558.96 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$27,230.00
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 $558.96 $0.00 $0.00 $558.96
2 $558.96 $558.96 $0.00 $3.16 $1,121.08
3 $1,121.08 $558.96 $0.00 $6.34 $1,686.38
4 $1,686.38 $558.96 $0.00 $9.54 $2,254.88
5 $2,254.88 $558.96 $0.00 $12.75 $2,826.59
6 $2,826.59 $558.96 $0.00 $15.98 $3,401.53
7 $3,401.53 $558.96 $0.00 $19.23 $3,979.72
8 $3,979.72 $558.96 $0.00 $22.50 $4,561.18
9 $4,561.18 $558.96 $0.00 $25.79 $5,145.93
10 $5,145.93 $558.96 $0.00 $29.10 $5,733.99
11 $5,733.99 $558.96 $0.00 $32.42 $6,325.37
12 $6,325.37 $558.96 $0.00 $35.76 $6,920.09
13 $6,920.09 $558.96 $0.00 $39.13 $7,518.18
14 $7,518.18 $558.96 $0.00 $42.51 $8,119.65
15 $8,119.65 $558.96 $0.00 $45.91 $8,724.52
16 $8,724.52 $558.96 $0.00 $49.33 $9,332.81
17 $9,332.81 $558.96 $0.00 $52.77 $9,944.54
18 $9,944.54 $558.96 $0.00 $56.23 $10,559.73
19 $10,559.73 $558.96 $0.00 $59.71 $11,178.40
20 $11,178.40 $558.96 $0.00 $63.20 $11,800.56
21 $11,800.56 $558.96 $0.00 $66.72 $12,426.24
22 $12,426.24 $558.96 $0.00 $70.26 $13,055.46
23 $13,055.46 $558.96 $0.00 $73.82 $13,688.24
24 $13,688.24 $558.96 $0.00 $77.40 $14,324.60
25 $14,324.60 $558.96 $0.00 $80.99 $14,964.55
26 $14,964.55 $558.96 $0.00 $84.61 $15,608.12
27 $15,608.12 $558.96 $0.00 $88.25 $16,255.33
28 $16,255.33 $558.96 $0.00 $91.91 $16,906.20
29 $16,906.20 $558.96 $0.00 $95.59 $17,560.75
30 $17,560.75 $558.96 $0.00 $99.29 $18,219.00
31 $18,219.00 $558.96 $0.00 $103.01 $18,880.97
32 $18,880.97 $558.96 $0.00 $106.76 $19,546.69
33 $19,546.69 $558.96 $0.00 $110.52 $20,216.17
34 $20,216.17 $558.96 $0.00 $114.31 $20,889.44
35 $20,889.44 $558.96 $0.00 $118.11 $21,566.51
36 $21,566.51 $558.96 $0.00 $121.94 $22,247.41
37 $22,247.41 $558.96 $0.00 $125.79 $22,932.16
38 $22,932.16 $558.96 $0.00 $129.66 $23,620.78
39 $23,620.78 $558.96 $0.00 $133.56 $24,313.30
40 $24,313.30 $558.96 $0.00 $137.47 $25,009.73
41 $25,009.73 $558.96 $0.00 $141.41 $25,710.10
42 $25,710.10 $558.96 $0.00 $145.37 $26,414.43
43 $26,414.43 $558.96 $0.00 $149.35 $27,122.74
44 $27,122.74 $558.96 $0.00 $153.36 $27,835.06
45 $27,835.06 $558.96 $0.00 $157.38 $28,551.40
46 $28,551.40 $558.96 $0.00 $161.43 $29,271.79
47 $29,271.79 $558.96 $0.00 $165.51 $29,996.26
48 $29,996.26 $558.96 $0.00 $169.60 $30,724.82
49 $30,724.82 $558.96 $0.00 $173.72 $31,457.50
50 $31,457.50 $558.96 $0.00 $177.87 $32,194.33
51 $32,194.33 $558.96 $0.00 $182.03 $32,935.32
52 $32,935.32 $558.96 $0.00 $186.22 $33,680.50
53 $33,680.50 $558.96 $0.00 $190.43 $34,429.89
54 $34,429.89 $558.96 $0.00 $194.67 $35,183.52
55 $35,183.52 $558.96 $0.00 $198.93 $35,941.41
56 $35,941.41 $558.96 $0.00 $203.22 $36,703.59
57 $36,703.59 $558.96 $0.00 $207.53 $37,470.08
58 $37,470.08 $558.96 $0.00 $211.86 $38,240.90
59 $38,240.90 $558.96 $0.00 $216.22 $39,016.08
60 $39,016.08 $558.96 $0.00 $220.60 $39,795.64
61 $39,795.64 $558.96 $0.00 $225.01 $40,579.61
62 $40,579.61 $558.96 $0.00 $229.44 $41,368.01
63 $41,368.01 $558.96 $0.00 $233.90 $42,160.87
64 $42,160.87 $558.96 $0.00 $238.38 $42,958.21
65 $42,958.21 $558.96 $0.00 $242.89 $43,760.06
66 $43,760.06 $558.96 $0.00 $247.43 $44,566.45
67 $44,566.45 $558.96 $0.00 $251.99 $45,377.40
68 $45,377.40 $558.96 $0.00 $256.57 $46,192.93
69 $46,192.93 $558.96 $0.00 $261.18 $47,013.07
70 $47,013.07 $558.96 $0.00 $265.82 $47,837.85
71 $47,837.85 $558.96 $0.00 $270.48 $48,667.29
72 $48,667.29 $558.96 $0.00 $275.17 $49,501.42
73 $49,501.42 $558.96 $0.00 $279.89 $50,340.27
74 $50,340.27 $558.96 $0.00 $284.63 $51,183.86
75 $51,183.86 $558.96 $0.00 $289.40 $52,032.22
76 $52,032.22 $558.96 $0.00 $294.20 $52,885.38
77 $52,885.38 $558.96 $0.00 $299.02 $53,743.36
78 $53,743.36 $558.96 $0.00 $303.87 $54,606.19
79 $54,606.19 $558.96 $0.00 $308.75 $55,473.90
80 $55,473.90 $558.96 $0.00 $313.66 $56,346.52
81 $56,346.52 $558.96 $0.00 $318.59 $57,224.07
82 $57,224.07 $558.96 $0.00 $323.55 $58,106.58
83 $58,106.58 $558.96 $0.00 $328.54 $58,994.08
84 $58,994.08 $558.96 $0.00 $333.56 $59,886.60
85 $59,886.60 $558.96 $0.00 $338.61 $60,784.17
86 $60,784.17 $558.96 $0.00 $343.68 $61,686.81
87 $61,686.81 $558.96 $0.00 $348.79 $62,594.56
88 $62,594.56 $558.96 $0.00 $353.92 $63,507.44
89 $63,507.44 $558.96 $0.00 $359.08 $64,425.48
90 $64,425.48 $558.96 $0.00 $364.27 $65,348.71
91 $65,348.71 $558.96 $0.00 $369.49 $66,277.16
92 $66,277.16 $558.96 $0.00 $374.74 $67,210.86
93 $67,210.86 $558.96 $0.00 $380.02 $68,149.84
94 $68,149.84 $558.96 $0.00 $385.33 $69,094.13
95 $69,094.13 $558.96 $0.00 $390.67 $70,043.76
96 $70,043.76 $558.96 $0.00 $396.04 $70,998.76
97 $70,998.76 $558.96 $0.00 $401.44 $71,959.16
98 $71,959.16 $558.96 $0.00 $406.87 $72,924.99
99 $72,924.99 $558.96 $0.00 $412.33 $73,896.28
100 $73,896.28 $558.96 $0.00 $417.82 $74,873.06
101 $74,873.06 $558.96 $0.00 $423.34 $75,855.36
102 $75,855.36 $558.96 $0.00 $428.90 $76,843.22
103 $76,843.22 $558.96 $0.00 $434.48 $77,836.66
104 $77,836.66 $558.96 $0.00 $440.10 $78,835.72
105 $78,835.72 $558.96 $0.00 $445.75 $79,840.43
106 $79,840.43 $558.96 $0.00 $451.43 $80,850.82
107 $80,850.82 $558.96 $0.00 $457.14 $81,866.92
108 $81,866.92 $558.96 $0.00 $462.89 $82,888.77
109 $82,888.77 $558.96 $0.00 $468.67 $83,916.40
110 $83,916.40 $558.96 $0.00 $474.48 $84,949.84
111 $84,949.84 $558.96 $0.00 $480.32 $85,989.12
112 $85,989.12 $558.96 $0.00 $486.19 $87,034.27
113 $87,034.27 $558.96 $0.00 $492.10 $88,085.33
114 $88,085.33 $558.96 $0.00 $498.05 $89,142.34
115 $89,142.34 $558.96 $0.00 $504.02 $90,205.32
116 $90,205.32 $558.96 $0.00 $510.03 $91,274.31
117 $91,274.31 $558.96 $0.00 $516.08 $92,349.35
118 $92,349.35 $558.96 $0.00 $522.16 $93,430.47
119 $93,430.47 $558.96 $0.00 $528.27 $94,517.70
120 $94,517.70 $558.96 $0.00 $534.42 $95,611.08
121 $95,611.08 $558.96 $0.00 $540.60 $96,710.64
122 $96,710.64 $558.96 $0.00 $546.82 $97,816.42
123 $97,816.42 $558.96 $0.00 $553.07 $98,928.45
124 $98,928.45 $558.96 $0.00 $559.36 $100,046.77
125 $100,046.77 $558.96 $0.00 $565.68 $101,171.41
126 $101,171.41 $558.96 $0.00 $572.04 $102,302.41
127 $102,302.41 $558.96 $0.00 $578.43 $103,439.80
128 $103,439.80 $558.96 $0.00 $584.86 $104,583.62
129 $104,583.62 $558.96 $0.00 $591.33 $105,733.91
130 $105,733.91 $558.96 $0.00 $597.83 $106,890.70
131 $106,890.70 $558.96 $0.00 $604.38 $108,054.04
132 $108,054.04 $558.96 $0.00 $610.95 $109,223.95
133 $109,223.95 $558.96 $0.00 $617.57 $110,400.48
134 $110,400.48 $558.96 $0.00 $624.22 $111,583.66
135 $111,583.66 $558.96 $0.00 $630.91 $112,773.53
136 $112,773.53 $558.96 $0.00 $637.64 $113,970.13
137 $113,970.13 $558.96 $0.00 $644.40 $115,173.49
138 $115,173.49 $558.96 $0.00 $651.21 $116,383.66
139 $116,383.66 $558.96 $0.00 $658.05 $117,600.67
140 $117,600.67 $558.96 $0.00 $664.93 $118,824.56
141 $118,824.56 $558.96 $0.00 $671.85 $120,055.37
142 $120,055.37 $558.96 $0.00 $678.81 $121,293.14
143 $121,293.14 $558.96 $0.00 $685.81 $122,537.91
144 $122,537.91 $558.96 $0.00 $692.85 $123,789.72
145 $123,789.72 $558.96 $0.00 $699.93 $125,048.61
146 $125,048.61 $558.96 $0.00 $707.04 $126,314.61
147 $126,314.61 $558.96 $0.00 $714.20 $127,587.77
148 $127,587.77 $558.96 $0.00 $721.40 $128,868.13
149 $128,868.13 $558.96 $0.00 $728.64 $130,155.73
150 $130,155.73 $558.96 $0.00 $735.92 $131,450.61
151 $131,450.61 $558.96 $0.00 $743.24 $132,752.81
152 $132,752.81 $558.96 $0.00 $750.60 $134,062.37
153 $134,062.37 $558.96 $0.00 $758.01 $135,379.34
154 $135,379.34 $558.96 $0.00 $765.45 $136,703.75
155 $136,703.75 $558.96 $0.00 $772.94 $138,035.65
156 $138,035.65 $558.96 $0.00 $780.47 $139,375.08
157 $139,375.08 $558.96 $0.00 $788.05 $140,722.09
158 $140,722.09 $558.96 $0.00 $795.66 $142,076.71
159 $142,076.71 $558.96 $0.00 $803.32 $143,438.99
160 $143,438.99 $558.96 $0.00 $811.02 $144,808.97
161 $144,808.97 $558.96 $0.00 $818.77 $146,186.70
162 $146,186.70 $558.96 $0.00 $826.56 $147,572.22
163 $147,572.22 $558.96 $0.00 $834.39 $148,965.57
164 $148,965.57 $558.96 $0.00 $842.27 $150,366.80
165 $150,366.80 $558.96 $0.00 $850.20 $151,775.96
166 $151,775.96 $558.96 $0.00 $858.16 $153,193.08
167 $153,193.08 $558.96 $0.00 $866.18 $154,618.22
168 $154,618.22 $558.96 $0.00 $874.23 $156,051.41
169 $156,051.41 $558.96 $0.00 $882.34 $157,492.71
170 $157,492.71 $558.96 $0.00 $890.49 $158,942.16
171 $158,942.16 $558.96 $0.00 $898.68 $160,399.80
172 $160,399.80 $558.96 $0.00 $906.92 $161,865.68
173 $161,865.68 $558.96 $0.00 $915.21 $163,339.85
174 $163,339.85 $558.96 $0.00 $923.55 $164,822.36
175 $164,822.36 $558.96 $0.00 $931.93 $166,313.25
176 $166,313.25 $558.96 $0.00 $940.36 $167,812.57
177 $167,812.57 $558.96 $0.00 $948.84 $169,320.37
178 $169,320.37 $558.96 $0.00 $957.36 $170,836.69
179 $170,836.69 $558.96 $0.00 $965.94 $172,361.59
180 $172,361.59 $558.96 $0.00 $974.56 $173,895.11
181 $173,895.11 $558.96 $0.00 $983.23 $175,437.30
182 $175,437.30 $558.96 $0.00 $991.95 $176,988.21
183 $176,988.21 $558.96 $0.00 $1,000.72 $178,547.89
184 $178,547.89 $558.96 $0.00 $1,009.54 $180,116.39
185 $180,116.39 $558.96 $0.00 $1,018.40 $181,693.75
186 $181,693.75 $558.96 $0.00 $1,027.32 $183,280.03
187 $183,280.03 $558.96 $0.00 $1,036.29 $184,875.28
188 $184,875.28 $558.96 $0.00 $1,045.31 $186,479.55
189 $186,479.55 $558.96 $0.00 $1,054.38 $188,092.89
190 $188,092.89 $558.96 $0.00 $1,063.50 $189,715.35
191 $189,715.35 $558.96 $0.00 $1,072.68 $191,346.99
192 $191,346.99 $558.96 $0.00 $1,081.90 $192,987.85
193 $192,987.85 $558.96 $0.00 $1,091.18 $194,637.99
194 $194,637.99 $558.96 $0.00 $1,100.51 $196,297.46
195 $196,297.46 $558.96 $0.00 $1,109.89 $197,966.31
196 $197,966.31 $558.96 $0.00 $1,119.33 $199,644.60
197 $199,644.60 $558.96 $0.00 $1,128.82 $201,332.38
198 $201,332.38 $558.96 $0.00 $1,138.36 $203,029.70
199 $203,029.70 $558.96 $0.00 $1,147.96 $204,736.62
200 $204,736.62 $558.96 $0.00 $1,157.61 $206,453.19
201 $206,453.19 $558.96 $0.00 $1,167.32 $208,179.47
202 $208,179.47 $558.96 $0.00 $1,177.08 $209,915.51
203 $209,915.51 $558.96 $0.00 $1,186.89 $211,661.36
204 $211,661.36 $558.96 $0.00 $1,196.76 $213,417.08
205 $213,417.08 $558.96 $0.00 $1,206.69 $215,182.73
206 $215,182.73 $558.96 $0.00 $1,216.67 $216,958.36
207 $216,958.36 $558.96 $0.00 $1,226.71 $218,744.03
208 $218,744.03 $558.96 $0.00 $1,236.81 $220,539.80
209 $220,539.80 $558.96 $0.00 $1,246.96 $222,345.72
210 $222,345.72 $558.96 $0.00 $1,257.18 $224,161.86
211 $224,161.86 $558.96 $0.00 $1,267.44 $225,988.26
212 $225,988.26 $558.96 $0.00 $1,277.77 $227,824.99
213 $227,824.99 $558.96 $0.00 $1,288.16 $229,672.11
214 $229,672.11 $558.96 $0.00 $1,298.60 $231,529.67
215 $231,529.67 $558.96 $0.00 $1,309.10 $233,397.73
216 $233,397.73 $558.96 $0.00 $1,319.66 $235,276.35
217 $235,276.35 $558.96 $65,532.24 $1,330.29 $171,633.36
218 $171,633.36 $558.96 $0.00 $970.44 $173,162.76
219 $173,162.76 $558.96 $0.00 $979.09 $174,700.81
220 $174,700.81 $558.96 $0.00 $987.78 $176,247.55
221 $176,247.55 $558.96 $0.00 $996.53 $177,803.04
222 $177,803.04 $558.96 $0.00 $1,005.32 $179,367.32
223 $179,367.32 $558.96 $0.00 $1,014.17 $180,940.45
224 $180,940.45 $558.96 $0.00 $1,023.06 $182,522.47
225 $182,522.47 $558.96 $0.00 $1,032.01 $184,113.44
226 $184,113.44 $558.96 $0.00 $1,041.00 $185,713.40
227 $185,713.40 $558.96 $0.00 $1,050.05 $187,322.41
228 $187,322.41 $558.96 $0.00 $1,059.15 $188,940.52
229 $188,940.52 $558.96 $68,808.85 $1,068.30 $121,758.93
230 $121,758.93 $558.96 $0.00 $688.44 $123,006.33
231 $123,006.33 $558.96 $0.00 $695.50 $124,260.79
232 $124,260.79 $558.96 $0.00 $702.59 $125,522.34
233 $125,522.34 $558.96 $0.00 $709.72 $126,791.02
234 $126,791.02 $558.96 $0.00 $716.89 $128,066.87
235 $128,066.87 $558.96 $0.00 $724.11 $129,349.94
236 $129,349.94 $558.96 $0.00 $731.36 $130,640.26
237 $130,640.26 $558.96 $0.00 $738.66 $131,937.88
238 $131,937.88 $558.96 $0.00 $746.00 $133,242.84
239 $133,242.84 $558.96 $0.00 $753.37 $134,555.17
240 $134,555.17 $558.96 $0.00 $760.79 $135,874.92
241 $135,874.92 $558.96 $72,249.30 $768.26 $64,952.84
242 $64,952.84 $558.96 $0.00 $367.25 $65,879.05
243 $65,879.05 $558.96 $0.00 $372.49 $66,810.50
244 $66,810.50 $558.96 $0.00 $377.76 $67,747.22
245 $67,747.22 $558.96 $0.00 $383.05 $68,689.23
246 $68,689.23 $558.96 $0.00 $388.38 $69,636.57
247 $69,636.57 $558.96 $0.00 $393.74 $70,589.27
248 $70,589.27 $558.96 $0.00 $399.12 $71,547.35
249 $71,547.35 $558.96 $0.00 $404.54 $72,510.85
250 $72,510.85 $558.96 $0.00 $409.99 $73,479.80
251 $73,479.80 $558.96 $0.00 $415.47 $74,454.23
252 $74,454.23 $558.96 $0.00 $420.98 $75,434.17
253 $75,434.17 $0.00 $75,861.76 $426.52 ($1.07)