Savings Plan and Future Cost Estimation for Union College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$152,768
Monthly savings required$1,207

How much will it cost to send your child to Union College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $611,073.09 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,207.36 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$40,720.00
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 $1,207.36 $0.00 $0.00 $1,207.36
2 $1,207.36 $1,207.36 $0.00 $6.83 $2,421.55
3 $2,421.55 $1,207.36 $0.00 $13.69 $3,642.60
4 $3,642.60 $1,207.36 $0.00 $20.60 $4,870.56
5 $4,870.56 $1,207.36 $0.00 $27.54 $6,105.46
6 $6,105.46 $1,207.36 $0.00 $34.52 $7,347.34
7 $7,347.34 $1,207.36 $0.00 $41.54 $8,596.24
8 $8,596.24 $1,207.36 $0.00 $48.60 $9,852.20
9 $9,852.20 $1,207.36 $0.00 $55.71 $11,115.27
10 $11,115.27 $1,207.36 $0.00 $62.85 $12,385.48
11 $12,385.48 $1,207.36 $0.00 $70.03 $13,662.87
12 $13,662.87 $1,207.36 $0.00 $77.25 $14,947.48
13 $14,947.48 $1,207.36 $0.00 $84.52 $16,239.36
14 $16,239.36 $1,207.36 $0.00 $91.82 $17,538.54
15 $17,538.54 $1,207.36 $0.00 $99.17 $18,845.07
16 $18,845.07 $1,207.36 $0.00 $106.55 $20,158.98
17 $20,158.98 $1,207.36 $0.00 $113.98 $21,480.32
18 $21,480.32 $1,207.36 $0.00 $121.45 $22,809.13
19 $22,809.13 $1,207.36 $0.00 $128.97 $24,145.46
20 $24,145.46 $1,207.36 $0.00 $136.52 $25,489.34
21 $25,489.34 $1,207.36 $0.00 $144.12 $26,840.82
22 $26,840.82 $1,207.36 $0.00 $151.76 $28,199.94
23 $28,199.94 $1,207.36 $0.00 $159.45 $29,566.75
24 $29,566.75 $1,207.36 $0.00 $167.17 $30,941.28
25 $30,941.28 $1,207.36 $0.00 $174.95 $32,323.59
26 $32,323.59 $1,207.36 $0.00 $182.76 $33,713.71
27 $33,713.71 $1,207.36 $0.00 $190.62 $35,111.69
28 $35,111.69 $1,207.36 $0.00 $198.53 $36,517.58
29 $36,517.58 $1,207.36 $0.00 $206.48 $37,931.42
30 $37,931.42 $1,207.36 $0.00 $214.47 $39,353.25
31 $39,353.25 $1,207.36 $0.00 $222.51 $40,783.12
32 $40,783.12 $1,207.36 $0.00 $230.59 $42,221.07
33 $42,221.07 $1,207.36 $0.00 $238.72 $43,667.15
34 $43,667.15 $1,207.36 $0.00 $246.90 $45,121.41
35 $45,121.41 $1,207.36 $0.00 $255.12 $46,583.89
36 $46,583.89 $1,207.36 $0.00 $263.39 $48,054.64
37 $48,054.64 $1,207.36 $0.00 $271.71 $49,533.71
38 $49,533.71 $1,207.36 $0.00 $280.07 $51,021.14
39 $51,021.14 $1,207.36 $0.00 $288.48 $52,516.98
40 $52,516.98 $1,207.36 $0.00 $296.94 $54,021.28
41 $54,021.28 $1,207.36 $0.00 $305.44 $55,534.08
42 $55,534.08 $1,207.36 $0.00 $314.00 $57,055.44
43 $57,055.44 $1,207.36 $0.00 $322.60 $58,585.40
44 $58,585.40 $1,207.36 $0.00 $331.25 $60,124.01
45 $60,124.01 $1,207.36 $0.00 $339.95 $61,671.32
46 $61,671.32 $1,207.36 $0.00 $348.70 $63,227.38
47 $63,227.38 $1,207.36 $0.00 $357.50 $64,792.24
48 $64,792.24 $1,207.36 $0.00 $366.34 $66,365.94
49 $66,365.94 $1,207.36 $0.00 $375.24 $67,948.54
50 $67,948.54 $1,207.36 $0.00 $384.19 $69,540.09
51 $69,540.09 $1,207.36 $0.00 $393.19 $71,140.64
52 $71,140.64 $1,207.36 $0.00 $402.24 $72,750.24
53 $72,750.24 $1,207.36 $0.00 $411.34 $74,368.94
54 $74,368.94 $1,207.36 $0.00 $420.49 $75,996.79
55 $75,996.79 $1,207.36 $0.00 $429.70 $77,633.85
56 $77,633.85 $1,207.36 $0.00 $438.95 $79,280.16
57 $79,280.16 $1,207.36 $0.00 $448.26 $80,935.78
58 $80,935.78 $1,207.36 $0.00 $457.62 $82,600.76
59 $82,600.76 $1,207.36 $0.00 $467.04 $84,275.16
60 $84,275.16 $1,207.36 $0.00 $476.50 $85,959.02
61 $85,959.02 $1,207.36 $0.00 $486.02 $87,652.40
62 $87,652.40 $1,207.36 $0.00 $495.60 $89,355.36
63 $89,355.36 $1,207.36 $0.00 $505.23 $91,067.95
64 $91,067.95 $1,207.36 $0.00 $514.91 $92,790.22
65 $92,790.22 $1,207.36 $0.00 $524.65 $94,522.23
66 $94,522.23 $1,207.36 $0.00 $534.44 $96,264.03
67 $96,264.03 $1,207.36 $0.00 $544.29 $98,015.68
68 $98,015.68 $1,207.36 $0.00 $554.19 $99,777.23
69 $99,777.23 $1,207.36 $0.00 $564.15 $101,548.74
70 $101,548.74 $1,207.36 $0.00 $574.17 $103,330.27
71 $103,330.27 $1,207.36 $0.00 $584.24 $105,121.87
72 $105,121.87 $1,207.36 $0.00 $594.37 $106,923.60
73 $106,923.60 $1,207.36 $0.00 $604.56 $108,735.52
74 $108,735.52 $1,207.36 $0.00 $614.81 $110,557.69
75 $110,557.69 $1,207.36 $0.00 $625.11 $112,390.16
76 $112,390.16 $1,207.36 $0.00 $635.47 $114,232.99
77 $114,232.99 $1,207.36 $0.00 $645.89 $116,086.24
78 $116,086.24 $1,207.36 $0.00 $656.37 $117,949.97
79 $117,949.97 $1,207.36 $0.00 $666.91 $119,824.24
80 $119,824.24 $1,207.36 $0.00 $677.50 $121,709.10
81 $121,709.10 $1,207.36 $0.00 $688.16 $123,604.62
82 $123,604.62 $1,207.36 $0.00 $698.88 $125,510.86
83 $125,510.86 $1,207.36 $0.00 $709.66 $127,427.88
84 $127,427.88 $1,207.36 $0.00 $720.50 $129,355.74
85 $129,355.74 $1,207.36 $0.00 $731.40 $131,294.50
86 $131,294.50 $1,207.36 $0.00 $742.36 $133,244.22
87 $133,244.22 $1,207.36 $0.00 $753.38 $135,204.96
88 $135,204.96 $1,207.36 $0.00 $764.47 $137,176.79
89 $137,176.79 $1,207.36 $0.00 $775.62 $139,159.77
90 $139,159.77 $1,207.36 $0.00 $786.83 $141,153.96
91 $141,153.96 $1,207.36 $0.00 $798.11 $143,159.43
92 $143,159.43 $1,207.36 $0.00 $809.44 $145,176.23
93 $145,176.23 $1,207.36 $0.00 $820.85 $147,204.44
94 $147,204.44 $1,207.36 $0.00 $832.32 $149,244.12
95 $149,244.12 $1,207.36 $0.00 $843.85 $151,295.33
96 $151,295.33 $1,207.36 $0.00 $855.45 $153,358.14
97 $153,358.14 $1,207.36 $0.00 $867.11 $155,432.61
98 $155,432.61 $1,207.36 $0.00 $878.84 $157,518.81
99 $157,518.81 $1,207.36 $0.00 $890.63 $159,616.80
100 $159,616.80 $1,207.36 $0.00 $902.50 $161,726.66
101 $161,726.66 $1,207.36 $0.00 $914.43 $163,848.45
102 $163,848.45 $1,207.36 $0.00 $926.42 $165,982.23
103 $165,982.23 $1,207.36 $0.00 $938.49 $168,128.08
104 $168,128.08 $1,207.36 $0.00 $950.62 $170,286.06
105 $170,286.06 $1,207.36 $0.00 $962.82 $172,456.24
106 $172,456.24 $1,207.36 $0.00 $975.09 $174,638.69
107 $174,638.69 $1,207.36 $0.00 $987.43 $176,833.48
108 $176,833.48 $1,207.36 $0.00 $999.84 $179,040.68
109 $179,040.68 $1,207.36 $0.00 $1,012.32 $181,260.36
110 $181,260.36 $1,207.36 $0.00 $1,024.87 $183,492.59
111 $183,492.59 $1,207.36 $0.00 $1,037.49 $185,737.44
112 $185,737.44 $1,207.36 $0.00 $1,050.19 $187,994.99
113 $187,994.99 $1,207.36 $0.00 $1,062.95 $190,265.30
114 $190,265.30 $1,207.36 $0.00 $1,075.79 $192,548.45
115 $192,548.45 $1,207.36 $0.00 $1,088.70 $194,844.51
116 $194,844.51 $1,207.36 $0.00 $1,101.68 $197,153.55
117 $197,153.55 $1,207.36 $0.00 $1,114.73 $199,475.64
118 $199,475.64 $1,207.36 $0.00 $1,127.86 $201,810.86
119 $201,810.86 $1,207.36 $0.00 $1,141.07 $204,159.29
120 $204,159.29 $1,207.36 $0.00 $1,154.35 $206,521.00
121 $206,521.00 $1,207.36 $0.00 $1,167.70 $208,896.06
122 $208,896.06 $1,207.36 $0.00 $1,181.13 $211,284.55
123 $211,284.55 $1,207.36 $0.00 $1,194.63 $213,686.54
124 $213,686.54 $1,207.36 $0.00 $1,208.21 $216,102.11
125 $216,102.11 $1,207.36 $0.00 $1,221.87 $218,531.34
126 $218,531.34 $1,207.36 $0.00 $1,235.61 $220,974.31
127 $220,974.31 $1,207.36 $0.00 $1,249.42 $223,431.09
128 $223,431.09 $1,207.36 $0.00 $1,263.31 $225,901.76
129 $225,901.76 $1,207.36 $0.00 $1,277.28 $228,386.40
130 $228,386.40 $1,207.36 $0.00 $1,291.33 $230,885.09
131 $230,885.09 $1,207.36 $0.00 $1,305.46 $233,397.91
132 $233,397.91 $1,207.36 $0.00 $1,319.67 $235,924.94
133 $235,924.94 $1,207.36 $0.00 $1,333.95 $238,466.25
134 $238,466.25 $1,207.36 $0.00 $1,348.32 $241,021.93
135 $241,021.93 $1,207.36 $0.00 $1,362.77 $243,592.06
136 $243,592.06 $1,207.36 $0.00 $1,377.30 $246,176.72
137 $246,176.72 $1,207.36 $0.00 $1,391.92 $248,776.00
138 $248,776.00 $1,207.36 $0.00 $1,406.62 $251,389.98
139 $251,389.98 $1,207.36 $0.00 $1,421.40 $254,018.74
140 $254,018.74 $1,207.36 $0.00 $1,436.26 $256,662.36
141 $256,662.36 $1,207.36 $0.00 $1,451.21 $259,320.93
142 $259,320.93 $1,207.36 $0.00 $1,466.24 $261,994.53
143 $261,994.53 $1,207.36 $0.00 $1,481.36 $264,683.25
144 $264,683.25 $1,207.36 $0.00 $1,496.56 $267,387.17
145 $267,387.17 $1,207.36 $0.00 $1,511.85 $270,106.38
146 $270,106.38 $1,207.36 $0.00 $1,527.22 $272,840.96
147 $272,840.96 $1,207.36 $0.00 $1,542.68 $275,591.00
148 $275,591.00 $1,207.36 $0.00 $1,558.23 $278,356.59
149 $278,356.59 $1,207.36 $0.00 $1,573.87 $281,137.82
150 $281,137.82 $1,207.36 $0.00 $1,589.59 $283,934.77
151 $283,934.77 $1,207.36 $0.00 $1,605.41 $286,747.54
152 $286,747.54 $1,207.36 $0.00 $1,621.31 $289,576.21
153 $289,576.21 $1,207.36 $0.00 $1,637.31 $292,420.88
154 $292,420.88 $1,207.36 $0.00 $1,653.39 $295,281.63
155 $295,281.63 $1,207.36 $0.00 $1,669.57 $298,158.56
156 $298,158.56 $1,207.36 $0.00 $1,685.83 $301,051.75
157 $301,051.75 $1,207.36 $0.00 $1,702.19 $303,961.30
158 $303,961.30 $1,207.36 $0.00 $1,718.64 $306,887.30
159 $306,887.30 $1,207.36 $0.00 $1,735.19 $309,829.85
160 $309,829.85 $1,207.36 $0.00 $1,751.82 $312,789.03
161 $312,789.03 $1,207.36 $0.00 $1,768.55 $315,764.94
162 $315,764.94 $1,207.36 $0.00 $1,785.38 $318,757.68
163 $318,757.68 $1,207.36 $0.00 $1,802.30 $321,767.34
164 $321,767.34 $1,207.36 $0.00 $1,819.32 $324,794.02
165 $324,794.02 $1,207.36 $0.00 $1,836.43 $327,837.81
166 $327,837.81 $1,207.36 $0.00 $1,853.64 $330,898.81
167 $330,898.81 $1,207.36 $0.00 $1,870.95 $333,977.12
168 $333,977.12 $1,207.36 $0.00 $1,888.36 $337,072.84
169 $337,072.84 $1,207.36 $0.00 $1,905.86 $340,186.06
170 $340,186.06 $1,207.36 $0.00 $1,923.46 $343,316.88
171 $343,316.88 $1,207.36 $0.00 $1,941.16 $346,465.40
172 $346,465.40 $1,207.36 $0.00 $1,958.97 $349,631.73
173 $349,631.73 $1,207.36 $0.00 $1,976.87 $352,815.96
174 $352,815.96 $1,207.36 $0.00 $1,994.87 $356,018.19
175 $356,018.19 $1,207.36 $0.00 $2,012.98 $359,238.53
176 $359,238.53 $1,207.36 $0.00 $2,031.19 $362,477.08
177 $362,477.08 $1,207.36 $0.00 $2,049.50 $365,733.94
178 $365,733.94 $1,207.36 $0.00 $2,067.91 $369,009.21
179 $369,009.21 $1,207.36 $0.00 $2,086.43 $372,303.00
180 $372,303.00 $1,207.36 $0.00 $2,105.06 $375,615.42
181 $375,615.42 $1,207.36 $0.00 $2,123.78 $378,946.56
182 $378,946.56 $1,207.36 $0.00 $2,142.62 $382,296.54
183 $382,296.54 $1,207.36 $0.00 $2,161.56 $385,665.46
184 $385,665.46 $1,207.36 $0.00 $2,180.61 $389,053.43
185 $389,053.43 $1,207.36 $0.00 $2,199.76 $392,460.55
186 $392,460.55 $1,207.36 $0.00 $2,219.03 $395,886.94
187 $395,886.94 $1,207.36 $0.00 $2,238.40 $399,332.70
188 $399,332.70 $1,207.36 $0.00 $2,257.89 $402,797.95
189 $402,797.95 $1,207.36 $0.00 $2,277.48 $406,282.79
190 $406,282.79 $1,207.36 $0.00 $2,297.18 $409,787.33
191 $409,787.33 $1,207.36 $0.00 $2,317.00 $413,311.69
192 $413,311.69 $1,207.36 $0.00 $2,336.92 $416,855.97
193 $416,855.97 $1,207.36 $0.00 $2,356.96 $420,420.29
194 $420,420.29 $1,207.36 $0.00 $2,377.12 $424,004.77
195 $424,004.77 $1,207.36 $0.00 $2,397.38 $427,609.51
196 $427,609.51 $1,207.36 $0.00 $2,417.77 $431,234.64
197 $431,234.64 $1,207.36 $0.00 $2,438.26 $434,880.26
198 $434,880.26 $1,207.36 $0.00 $2,458.88 $438,546.50
199 $438,546.50 $1,207.36 $0.00 $2,479.61 $442,233.47
200 $442,233.47 $1,207.36 $0.00 $2,500.45 $445,941.28
201 $445,941.28 $1,207.36 $0.00 $2,521.42 $449,670.06
202 $449,670.06 $1,207.36 $0.00 $2,542.50 $453,419.92
203 $453,419.92 $1,207.36 $0.00 $2,563.70 $457,190.98
204 $457,190.98 $1,207.36 $0.00 $2,585.02 $460,983.36
205 $460,983.36 $1,207.36 $0.00 $2,606.47 $464,797.19
206 $464,797.19 $1,207.36 $0.00 $2,628.03 $468,632.58
207 $468,632.58 $1,207.36 $0.00 $2,649.72 $472,489.66
208 $472,489.66 $1,207.36 $0.00 $2,671.53 $476,368.55
209 $476,368.55 $1,207.36 $0.00 $2,693.46 $480,269.37
210 $480,269.37 $1,207.36 $0.00 $2,715.51 $484,192.24
211 $484,192.24 $1,207.36 $0.00 $2,737.69 $488,137.29
212 $488,137.29 $1,207.36 $0.00 $2,760.00 $492,104.65
213 $492,104.65 $1,207.36 $0.00 $2,782.43 $496,094.44
214 $496,094.44 $1,207.36 $0.00 $2,804.99 $500,106.79
215 $500,106.79 $1,207.36 $0.00 $2,827.68 $504,141.83
216 $504,141.83 $1,207.36 $0.00 $2,850.49 $508,199.68
217 $508,199.68 $1,207.36 $137,630.84 $2,873.43 $374,649.63
218 $374,649.63 $1,207.36 $0.00 $2,118.32 $377,975.31
219 $377,975.31 $1,207.36 $0.00 $2,137.13 $381,319.80
220 $381,319.80 $1,207.36 $0.00 $2,156.04 $384,683.20
221 $384,683.20 $1,207.36 $0.00 $2,175.05 $388,065.61
222 $388,065.61 $1,207.36 $0.00 $2,194.18 $391,467.15
223 $391,467.15 $1,207.36 $0.00 $2,213.41 $394,887.92
224 $394,887.92 $1,207.36 $0.00 $2,232.75 $398,328.03
225 $398,328.03 $1,207.36 $0.00 $2,252.20 $401,787.59
226 $401,787.59 $1,207.36 $0.00 $2,271.77 $405,266.72
227 $405,266.72 $1,207.36 $0.00 $2,291.44 $408,765.52
228 $408,765.52 $1,207.36 $0.00 $2,311.22 $412,284.10
229 $412,284.10 $1,207.36 $147,265.00 $2,331.11 $268,557.57
230 $268,557.57 $1,207.36 $0.00 $1,518.46 $271,283.39
231 $271,283.39 $1,207.36 $0.00 $1,533.88 $274,024.63
232 $274,024.63 $1,207.36 $0.00 $1,549.38 $276,781.37
233 $276,781.37 $1,207.36 $0.00 $1,564.96 $279,553.69
234 $279,553.69 $1,207.36 $0.00 $1,580.64 $282,341.69
235 $282,341.69 $1,207.36 $0.00 $1,596.40 $285,145.45
236 $285,145.45 $1,207.36 $0.00 $1,612.25 $287,965.06
237 $287,965.06 $1,207.36 $0.00 $1,628.20 $290,800.62
238 $290,800.62 $1,207.36 $0.00 $1,644.23 $293,652.21
239 $293,652.21 $1,207.36 $0.00 $1,660.35 $296,519.92
240 $296,519.92 $1,207.36 $0.00 $1,676.57 $299,403.85
241 $299,403.85 $1,207.36 $157,573.55 $1,692.87 $144,730.53
242 $144,730.53 $1,207.36 $0.00 $818.33 $146,756.22
243 $146,756.22 $1,207.36 $0.00 $829.78 $148,793.36
244 $148,793.36 $1,207.36 $0.00 $841.30 $150,842.02
245 $150,842.02 $1,207.36 $0.00 $852.88 $152,902.26
246 $152,902.26 $1,207.36 $0.00 $864.53 $154,974.15
247 $154,974.15 $1,207.36 $0.00 $876.25 $157,057.76
248 $157,057.76 $1,207.36 $0.00 $888.03 $159,153.15
249 $159,153.15 $1,207.36 $0.00 $899.88 $161,260.39
250 $161,260.39 $1,207.36 $0.00 $911.79 $163,379.54
251 $163,379.54 $1,207.36 $0.00 $923.77 $165,510.67
252 $165,510.67 $1,207.36 $0.00 $935.82 $167,653.85
253 $167,653.85 $0.00 $168,603.70 $947.94 -$1.91