Savings Plan and Future Cost Estimation for Westminster College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$211,411
Monthly savings required$1,671

How much will it cost to send your child to Westminster College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $845,642.93 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,670.83 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$56,351.00
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 $1,670.83 $0.00 $0.00 $1,670.83
2 $1,670.83 $1,670.83 $0.00 $9.45 $3,351.11
3 $3,351.11 $1,670.83 $0.00 $18.95 $5,040.89
4 $5,040.89 $1,670.83 $0.00 $28.50 $6,740.22
5 $6,740.22 $1,670.83 $0.00 $38.11 $8,449.16
6 $8,449.16 $1,670.83 $0.00 $47.77 $10,167.76
7 $10,167.76 $1,670.83 $0.00 $57.49 $11,896.08
8 $11,896.08 $1,670.83 $0.00 $67.26 $13,634.17
9 $13,634.17 $1,670.83 $0.00 $77.09 $15,382.09
10 $15,382.09 $1,670.83 $0.00 $86.97 $17,139.89
11 $17,139.89 $1,670.83 $0.00 $96.91 $18,907.63
12 $18,907.63 $1,670.83 $0.00 $106.91 $20,685.37
13 $20,685.37 $1,670.83 $0.00 $116.96 $22,473.16
14 $22,473.16 $1,670.83 $0.00 $127.07 $24,271.06
15 $24,271.06 $1,670.83 $0.00 $137.23 $26,079.12
16 $26,079.12 $1,670.83 $0.00 $147.46 $27,897.41
17 $27,897.41 $1,670.83 $0.00 $157.74 $29,725.98
18 $29,725.98 $1,670.83 $0.00 $168.08 $31,564.89
19 $31,564.89 $1,670.83 $0.00 $178.47 $33,414.19
20 $33,414.19 $1,670.83 $0.00 $188.93 $35,273.95
21 $35,273.95 $1,670.83 $0.00 $199.44 $37,144.22
22 $37,144.22 $1,670.83 $0.00 $210.02 $39,025.07
23 $39,025.07 $1,670.83 $0.00 $220.65 $40,916.55
24 $40,916.55 $1,670.83 $0.00 $231.35 $42,818.73
25 $42,818.73 $1,670.83 $0.00 $242.10 $44,731.66
26 $44,731.66 $1,670.83 $0.00 $252.92 $46,655.41
27 $46,655.41 $1,670.83 $0.00 $263.80 $48,590.04
28 $48,590.04 $1,670.83 $0.00 $274.74 $50,535.61
29 $50,535.61 $1,670.83 $0.00 $285.74 $52,492.18
30 $52,492.18 $1,670.83 $0.00 $296.80 $54,459.81
31 $54,459.81 $1,670.83 $0.00 $307.92 $56,438.56
32 $56,438.56 $1,670.83 $0.00 $319.11 $58,428.50
33 $58,428.50 $1,670.83 $0.00 $330.36 $60,429.69
34 $60,429.69 $1,670.83 $0.00 $341.68 $62,442.20
35 $62,442.20 $1,670.83 $0.00 $353.06 $64,466.09
36 $64,466.09 $1,670.83 $0.00 $364.50 $66,501.42
37 $66,501.42 $1,670.83 $0.00 $376.01 $68,548.26
38 $68,548.26 $1,670.83 $0.00 $387.58 $70,606.67
39 $70,606.67 $1,670.83 $0.00 $399.22 $72,676.72
40 $72,676.72 $1,670.83 $0.00 $410.92 $74,758.47
41 $74,758.47 $1,670.83 $0.00 $422.70 $76,852.00
42 $76,852.00 $1,670.83 $0.00 $434.53 $78,957.36
43 $78,957.36 $1,670.83 $0.00 $446.44 $81,074.63
44 $81,074.63 $1,670.83 $0.00 $458.41 $83,203.87
45 $83,203.87 $1,670.83 $0.00 $470.45 $85,345.15
46 $85,345.15 $1,670.83 $0.00 $482.55 $87,498.53
47 $87,498.53 $1,670.83 $0.00 $494.73 $89,664.09
48 $89,664.09 $1,670.83 $0.00 $506.97 $91,841.89
49 $91,841.89 $1,670.83 $0.00 $519.29 $94,032.01
50 $94,032.01 $1,670.83 $0.00 $531.67 $96,234.51
51 $96,234.51 $1,670.83 $0.00 $544.12 $98,449.46
52 $98,449.46 $1,670.83 $0.00 $556.65 $100,676.94
53 $100,676.94 $1,670.83 $0.00 $569.24 $102,917.01
54 $102,917.01 $1,670.83 $0.00 $581.91 $105,169.75
55 $105,169.75 $1,670.83 $0.00 $594.65 $107,435.23
56 $107,435.23 $1,670.83 $0.00 $607.45 $109,713.51
57 $109,713.51 $1,670.83 $0.00 $620.34 $112,004.68
58 $112,004.68 $1,670.83 $0.00 $633.29 $114,308.80
59 $114,308.80 $1,670.83 $0.00 $646.32 $116,625.95
60 $116,625.95 $1,670.83 $0.00 $659.42 $118,956.20
61 $118,956.20 $1,670.83 $0.00 $672.60 $121,299.63
62 $121,299.63 $1,670.83 $0.00 $685.85 $123,656.31
63 $123,656.31 $1,670.83 $0.00 $699.17 $126,026.31
64 $126,026.31 $1,670.83 $0.00 $712.57 $128,409.71
65 $128,409.71 $1,670.83 $0.00 $726.05 $130,806.59
66 $130,806.59 $1,670.83 $0.00 $739.60 $133,217.02
67 $133,217.02 $1,670.83 $0.00 $753.23 $135,641.08
68 $135,641.08 $1,670.83 $0.00 $766.93 $138,078.84
69 $138,078.84 $1,670.83 $0.00 $780.72 $140,530.39
70 $140,530.39 $1,670.83 $0.00 $794.58 $142,995.80
71 $142,995.80 $1,670.83 $0.00 $808.52 $145,475.15
72 $145,475.15 $1,670.83 $0.00 $822.54 $147,968.52
73 $147,968.52 $1,670.83 $0.00 $836.64 $150,475.99
74 $150,475.99 $1,670.83 $0.00 $850.81 $152,997.63
75 $152,997.63 $1,670.83 $0.00 $865.07 $155,533.53
76 $155,533.53 $1,670.83 $0.00 $879.41 $158,083.77
77 $158,083.77 $1,670.83 $0.00 $893.83 $160,648.43
78 $160,648.43 $1,670.83 $0.00 $908.33 $163,227.59
79 $163,227.59 $1,670.83 $0.00 $922.91 $165,821.33
80 $165,821.33 $1,670.83 $0.00 $937.58 $168,429.74
81 $168,429.74 $1,670.83 $0.00 $952.33 $171,052.90
82 $171,052.90 $1,670.83 $0.00 $967.16 $173,690.89
83 $173,690.89 $1,670.83 $0.00 $982.07 $176,343.79
84 $176,343.79 $1,670.83 $0.00 $997.07 $179,011.69
85 $179,011.69 $1,670.83 $0.00 $1,012.16 $181,694.68
86 $181,694.68 $1,670.83 $0.00 $1,027.33 $184,392.84
87 $184,392.84 $1,670.83 $0.00 $1,042.58 $187,106.25
88 $187,106.25 $1,670.83 $0.00 $1,057.93 $189,835.01
89 $189,835.01 $1,670.83 $0.00 $1,073.35 $192,579.19
90 $192,579.19 $1,670.83 $0.00 $1,088.87 $195,338.89
91 $195,338.89 $1,670.83 $0.00 $1,104.47 $198,114.19
92 $198,114.19 $1,670.83 $0.00 $1,120.17 $200,905.19
93 $200,905.19 $1,670.83 $0.00 $1,135.95 $203,711.97
94 $203,711.97 $1,670.83 $0.00 $1,151.82 $206,534.62
95 $206,534.62 $1,670.83 $0.00 $1,167.78 $209,373.23
96 $209,373.23 $1,670.83 $0.00 $1,183.83 $212,227.89
97 $212,227.89 $1,670.83 $0.00 $1,199.97 $215,098.69
98 $215,098.69 $1,670.83 $0.00 $1,216.20 $217,985.72
99 $217,985.72 $1,670.83 $0.00 $1,232.52 $220,889.07
100 $220,889.07 $1,670.83 $0.00 $1,248.94 $223,808.84
101 $223,808.84 $1,670.83 $0.00 $1,265.45 $226,745.12
102 $226,745.12 $1,670.83 $0.00 $1,282.05 $229,698.00
103 $229,698.00 $1,670.83 $0.00 $1,298.75 $232,667.58
104 $232,667.58 $1,670.83 $0.00 $1,315.54 $235,653.95
105 $235,653.95 $1,670.83 $0.00 $1,332.42 $238,657.20
106 $238,657.20 $1,670.83 $0.00 $1,349.40 $241,677.43
107 $241,677.43 $1,670.83 $0.00 $1,366.48 $244,714.74
108 $244,714.74 $1,670.83 $0.00 $1,383.65 $247,769.22
109 $247,769.22 $1,670.83 $0.00 $1,400.92 $250,840.97
110 $250,840.97 $1,670.83 $0.00 $1,418.29 $253,930.09
111 $253,930.09 $1,670.83 $0.00 $1,435.76 $257,036.68
112 $257,036.68 $1,670.83 $0.00 $1,453.32 $260,160.83
113 $260,160.83 $1,670.83 $0.00 $1,470.99 $263,302.65
114 $263,302.65 $1,670.83 $0.00 $1,488.75 $266,462.23
115 $266,462.23 $1,670.83 $0.00 $1,506.62 $269,639.68
116 $269,639.68 $1,670.83 $0.00 $1,524.58 $272,835.09
117 $272,835.09 $1,670.83 $0.00 $1,542.65 $276,048.57
118 $276,048.57 $1,670.83 $0.00 $1,560.82 $279,280.22
119 $279,280.22 $1,670.83 $0.00 $1,579.09 $282,530.14
120 $282,530.14 $1,670.83 $0.00 $1,597.47 $285,798.44
121 $285,798.44 $1,670.83 $0.00 $1,615.95 $289,085.22
122 $289,085.22 $1,670.83 $0.00 $1,634.53 $292,390.58
123 $292,390.58 $1,670.83 $0.00 $1,653.22 $295,714.63
124 $295,714.63 $1,670.83 $0.00 $1,672.01 $299,057.47
125 $299,057.47 $1,670.83 $0.00 $1,690.91 $302,419.21
126 $302,419.21 $1,670.83 $0.00 $1,709.92 $305,799.96
127 $305,799.96 $1,670.83 $0.00 $1,729.04 $309,199.83
128 $309,199.83 $1,670.83 $0.00 $1,748.26 $312,618.92
129 $312,618.92 $1,670.83 $0.00 $1,767.59 $316,057.34
130 $316,057.34 $1,670.83 $0.00 $1,787.03 $319,515.20
131 $319,515.20 $1,670.83 $0.00 $1,806.59 $322,992.62
132 $322,992.62 $1,670.83 $0.00 $1,826.25 $326,489.70
133 $326,489.70 $1,670.83 $0.00 $1,846.02 $330,006.55
134 $330,006.55 $1,670.83 $0.00 $1,865.91 $333,543.29
135 $333,543.29 $1,670.83 $0.00 $1,885.90 $337,100.02
136 $337,100.02 $1,670.83 $0.00 $1,906.01 $340,676.86
137 $340,676.86 $1,670.83 $0.00 $1,926.24 $344,273.93
138 $344,273.93 $1,670.83 $0.00 $1,946.57 $347,891.33
139 $347,891.33 $1,670.83 $0.00 $1,967.03 $351,529.19
140 $351,529.19 $1,670.83 $0.00 $1,987.60 $355,187.62
141 $355,187.62 $1,670.83 $0.00 $2,008.28 $358,866.73
142 $358,866.73 $1,670.83 $0.00 $2,029.08 $362,566.64
143 $362,566.64 $1,670.83 $0.00 $2,050.00 $366,287.47
144 $366,287.47 $1,670.83 $0.00 $2,071.04 $370,029.34
145 $370,029.34 $1,670.83 $0.00 $2,092.20 $373,792.37
146 $373,792.37 $1,670.83 $0.00 $2,113.48 $377,576.68
147 $377,576.68 $1,670.83 $0.00 $2,134.87 $381,382.38
148 $381,382.38 $1,670.83 $0.00 $2,156.39 $385,209.60
149 $385,209.60 $1,670.83 $0.00 $2,178.03 $389,058.46
150 $389,058.46 $1,670.83 $0.00 $2,199.79 $392,929.08
151 $392,929.08 $1,670.83 $0.00 $2,221.68 $396,821.59
152 $396,821.59 $1,670.83 $0.00 $2,243.69 $400,736.11
153 $400,736.11 $1,670.83 $0.00 $2,265.82 $404,672.76
154 $404,672.76 $1,670.83 $0.00 $2,288.08 $408,631.67
155 $408,631.67 $1,670.83 $0.00 $2,310.46 $412,612.96
156 $412,612.96 $1,670.83 $0.00 $2,332.97 $416,616.76
157 $416,616.76 $1,670.83 $0.00 $2,355.61 $420,643.20
158 $420,643.20 $1,670.83 $0.00 $2,378.38 $424,692.41
159 $424,692.41 $1,670.83 $0.00 $2,401.27 $428,764.51
160 $428,764.51 $1,670.83 $0.00 $2,424.30 $432,859.64
161 $432,859.64 $1,670.83 $0.00 $2,447.45 $436,977.92
162 $436,977.92 $1,670.83 $0.00 $2,470.74 $441,119.49
163 $441,119.49 $1,670.83 $0.00 $2,494.15 $445,284.47
164 $445,284.47 $1,670.83 $0.00 $2,517.70 $449,473.00
165 $449,473.00 $1,670.83 $0.00 $2,541.39 $453,685.22
166 $453,685.22 $1,670.83 $0.00 $2,565.20 $457,921.25
167 $457,921.25 $1,670.83 $0.00 $2,589.15 $462,181.23
168 $462,181.23 $1,670.83 $0.00 $2,613.24 $466,465.30
169 $466,465.30 $1,670.83 $0.00 $2,637.46 $470,773.59
170 $470,773.59 $1,670.83 $0.00 $2,661.82 $475,106.24
171 $475,106.24 $1,670.83 $0.00 $2,686.32 $479,463.39
172 $479,463.39 $1,670.83 $0.00 $2,710.96 $483,845.18
173 $483,845.18 $1,670.83 $0.00 $2,735.73 $488,251.74
174 $488,251.74 $1,670.83 $0.00 $2,760.65 $492,683.22
175 $492,683.22 $1,670.83 $0.00 $2,785.70 $497,139.75
176 $497,139.75 $1,670.83 $0.00 $2,810.90 $501,621.48
177 $501,621.48 $1,670.83 $0.00 $2,836.24 $506,128.55
178 $506,128.55 $1,670.83 $0.00 $2,861.72 $510,661.10
179 $510,661.10 $1,670.83 $0.00 $2,887.35 $515,219.28
180 $515,219.28 $1,670.83 $0.00 $2,913.12 $519,803.23
181 $519,803.23 $1,670.83 $0.00 $2,939.04 $524,413.10
182 $524,413.10 $1,670.83 $0.00 $2,965.11 $529,049.04
183 $529,049.04 $1,670.83 $0.00 $2,991.32 $533,711.19
184 $533,711.19 $1,670.83 $0.00 $3,017.68 $538,399.70
185 $538,399.70 $1,670.83 $0.00 $3,044.19 $543,114.72
186 $543,114.72 $1,670.83 $0.00 $3,070.85 $547,856.40
187 $547,856.40 $1,670.83 $0.00 $3,097.66 $552,624.89
188 $552,624.89 $1,670.83 $0.00 $3,124.62 $557,420.34
189 $557,420.34 $1,670.83 $0.00 $3,151.74 $562,242.91
190 $562,242.91 $1,670.83 $0.00 $3,179.00 $567,092.74
191 $567,092.74 $1,670.83 $0.00 $3,206.42 $571,969.99
192 $571,969.99 $1,670.83 $0.00 $3,234.00 $576,874.82
193 $576,874.82 $1,670.83 $0.00 $3,261.73 $581,807.38
194 $581,807.38 $1,670.83 $0.00 $3,289.62 $586,767.83
195 $586,767.83 $1,670.83 $0.00 $3,317.67 $591,756.33
196 $591,756.33 $1,670.83 $0.00 $3,345.88 $596,773.04
197 $596,773.04 $1,670.83 $0.00 $3,374.24 $601,818.11
198 $601,818.11 $1,670.83 $0.00 $3,402.77 $606,891.71
199 $606,891.71 $1,670.83 $0.00 $3,431.45 $611,993.99
200 $611,993.99 $1,670.83 $0.00 $3,460.30 $617,125.12
201 $617,125.12 $1,670.83 $0.00 $3,489.32 $622,285.27
202 $622,285.27 $1,670.83 $0.00 $3,518.49 $627,474.59
203 $627,474.59 $1,670.83 $0.00 $3,547.83 $632,693.25
204 $632,693.25 $1,670.83 $0.00 $3,577.34 $637,941.42
205 $637,941.42 $1,670.83 $0.00 $3,607.01 $643,219.26
206 $643,219.26 $1,670.83 $0.00 $3,636.86 $648,526.95
207 $648,526.95 $1,670.83 $0.00 $3,666.87 $653,864.65
208 $653,864.65 $1,670.83 $0.00 $3,697.05 $659,232.53
209 $659,232.53 $1,670.83 $0.00 $3,727.40 $664,630.76
210 $664,630.76 $1,670.83 $0.00 $3,757.92 $670,059.51
211 $670,059.51 $1,670.83 $0.00 $3,788.61 $675,518.95
212 $675,518.95 $1,670.83 $0.00 $3,819.48 $681,009.26
213 $681,009.26 $1,670.83 $0.00 $3,850.53 $686,530.62
214 $686,530.62 $1,670.83 $0.00 $3,881.74 $692,083.19
215 $692,083.19 $1,670.83 $0.00 $3,913.14 $697,667.16
216 $697,667.16 $1,670.83 $0.00 $3,944.71 $703,282.70
217 $703,282.70 $1,670.83 $190,462.56 $3,976.46 $518,467.43
218 $518,467.43 $1,670.83 $0.00 $2,931.49 $523,069.75
219 $523,069.75 $1,670.83 $0.00 $2,957.51 $527,698.09
220 $527,698.09 $1,670.83 $0.00 $2,983.68 $532,352.60
221 $532,352.60 $1,670.83 $0.00 $3,010.00 $537,033.43
222 $537,033.43 $1,670.83 $0.00 $3,036.47 $541,740.73
223 $541,740.73 $1,670.83 $0.00 $3,063.08 $546,474.64
224 $546,474.64 $1,670.83 $0.00 $3,089.85 $551,235.32
225 $551,235.32 $1,670.83 $0.00 $3,116.76 $556,022.91
226 $556,022.91 $1,670.83 $0.00 $3,143.83 $560,837.57
227 $560,837.57 $1,670.83 $0.00 $3,171.06 $565,679.46
228 $565,679.46 $1,670.83 $0.00 $3,198.43 $570,548.72
229 $570,548.72 $1,670.83 $203,794.94 $3,225.97 $371,650.58
230 $371,650.58 $1,670.83 $0.00 $2,101.37 $375,422.78
231 $375,422.78 $1,670.83 $0.00 $2,122.69 $379,216.30
232 $379,216.30 $1,670.83 $0.00 $2,144.14 $383,031.27
233 $383,031.27 $1,670.83 $0.00 $2,165.71 $386,867.81
234 $386,867.81 $1,670.83 $0.00 $2,187.41 $390,726.05
235 $390,726.05 $1,670.83 $0.00 $2,209.22 $394,606.10
236 $394,606.10 $1,670.83 $0.00 $2,231.16 $398,508.09
237 $398,508.09 $1,670.83 $0.00 $2,253.22 $402,432.14
238 $402,432.14 $1,670.83 $0.00 $2,275.41 $406,378.38
239 $406,378.38 $1,670.83 $0.00 $2,297.72 $410,346.93
240 $410,346.93 $1,670.83 $0.00 $2,320.16 $414,337.92
241 $414,337.92 $1,670.83 $218,060.59 $2,342.73 $200,290.89
242 $200,290.89 $1,670.83 $0.00 $1,132.47 $203,094.19
243 $203,094.19 $1,670.83 $0.00 $1,148.32 $205,913.34
244 $205,913.34 $1,670.83 $0.00 $1,164.26 $208,748.43
245 $208,748.43 $1,670.83 $0.00 $1,180.29 $211,599.55
246 $211,599.55 $1,670.83 $0.00 $1,196.41 $214,466.79
247 $214,466.79 $1,670.83 $0.00 $1,212.63 $217,350.25
248 $217,350.25 $1,670.83 $0.00 $1,228.93 $220,250.01
249 $220,250.01 $1,670.83 $0.00 $1,245.33 $223,166.17
250 $223,166.17 $1,670.83 $0.00 $1,261.81 $226,098.81
251 $226,098.81 $1,670.83 $0.00 $1,278.40 $229,048.04
252 $229,048.04 $1,670.83 $0.00 $1,295.07 $232,013.94
253 $232,013.94 $0.00 $233,324.83 $1,311.84 $0.95