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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$126,349
Monthly savings required$1,000

How much will it cost to send your child to Morehouse College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $505,395.38 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,000.16 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$48,723.00
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 $1,000.16 $0.00 $0.00 $1,000.16
2 $1,000.16 $1,000.16 $0.00 $5.66 $2,005.98
3 $2,005.98 $1,000.16 $0.00 $11.34 $3,017.48
4 $3,017.48 $1,000.16 $0.00 $17.06 $4,034.70
5 $4,034.70 $1,000.16 $0.00 $22.81 $5,057.67
6 $5,057.67 $1,000.16 $0.00 $28.60 $6,086.43
7 $6,086.43 $1,000.16 $0.00 $34.41 $7,121.00
8 $7,121.00 $1,000.16 $0.00 $40.26 $8,161.42
9 $8,161.42 $1,000.16 $0.00 $46.15 $9,207.73
10 $9,207.73 $1,000.16 $0.00 $52.06 $10,259.95
11 $10,259.95 $1,000.16 $0.00 $58.01 $11,318.12
12 $11,318.12 $1,000.16 $0.00 $63.99 $12,382.27
13 $12,382.27 $1,000.16 $0.00 $70.01 $13,452.44
14 $13,452.44 $1,000.16 $0.00 $76.06 $14,528.66
15 $14,528.66 $1,000.16 $0.00 $82.15 $15,610.97
16 $15,610.97 $1,000.16 $0.00 $88.27 $16,699.40
17 $16,699.40 $1,000.16 $0.00 $94.42 $17,793.98
18 $17,793.98 $1,000.16 $0.00 $100.61 $18,894.75
19 $18,894.75 $1,000.16 $0.00 $106.83 $20,001.74
20 $20,001.74 $1,000.16 $0.00 $113.09 $21,114.99
21 $21,114.99 $1,000.16 $0.00 $119.39 $22,234.54
22 $22,234.54 $1,000.16 $0.00 $125.72 $23,360.42
23 $23,360.42 $1,000.16 $0.00 $132.08 $24,492.66
24 $24,492.66 $1,000.16 $0.00 $138.49 $25,631.31
25 $25,631.31 $1,000.16 $0.00 $144.92 $26,776.39
26 $26,776.39 $1,000.16 $0.00 $151.40 $27,927.95
27 $27,927.95 $1,000.16 $0.00 $157.91 $29,086.02
28 $29,086.02 $1,000.16 $0.00 $164.46 $30,250.64
29 $30,250.64 $1,000.16 $0.00 $171.04 $31,421.84
30 $31,421.84 $1,000.16 $0.00 $177.66 $32,599.66
31 $32,599.66 $1,000.16 $0.00 $184.32 $33,784.14
32 $33,784.14 $1,000.16 $0.00 $191.02 $34,975.32
33 $34,975.32 $1,000.16 $0.00 $197.76 $36,173.24
34 $36,173.24 $1,000.16 $0.00 $204.53 $37,377.93
35 $37,377.93 $1,000.16 $0.00 $211.34 $38,589.43
36 $38,589.43 $1,000.16 $0.00 $218.19 $39,807.78
37 $39,807.78 $1,000.16 $0.00 $225.08 $41,033.02
38 $41,033.02 $1,000.16 $0.00 $232.01 $42,265.19
39 $42,265.19 $1,000.16 $0.00 $238.97 $43,504.32
40 $43,504.32 $1,000.16 $0.00 $245.98 $44,750.46
41 $44,750.46 $1,000.16 $0.00 $253.03 $46,003.65
42 $46,003.65 $1,000.16 $0.00 $260.11 $47,263.92
43 $47,263.92 $1,000.16 $0.00 $267.24 $48,531.32
44 $48,531.32 $1,000.16 $0.00 $274.40 $49,805.88
45 $49,805.88 $1,000.16 $0.00 $281.61 $51,087.65
46 $51,087.65 $1,000.16 $0.00 $288.86 $52,376.67
47 $52,376.67 $1,000.16 $0.00 $296.15 $53,672.98
48 $53,672.98 $1,000.16 $0.00 $303.47 $54,976.61
49 $54,976.61 $1,000.16 $0.00 $310.85 $56,287.62
50 $56,287.62 $1,000.16 $0.00 $318.26 $57,606.04
51 $57,606.04 $1,000.16 $0.00 $325.71 $58,931.91
52 $58,931.91 $1,000.16 $0.00 $333.21 $60,265.28
53 $60,265.28 $1,000.16 $0.00 $340.75 $61,606.19
54 $61,606.19 $1,000.16 $0.00 $348.33 $62,954.68
55 $62,954.68 $1,000.16 $0.00 $355.95 $64,310.79
56 $64,310.79 $1,000.16 $0.00 $363.62 $65,674.57
57 $65,674.57 $1,000.16 $0.00 $371.33 $67,046.06
58 $67,046.06 $1,000.16 $0.00 $379.09 $68,425.31
59 $68,425.31 $1,000.16 $0.00 $386.89 $69,812.36
60 $69,812.36 $1,000.16 $0.00 $394.73 $71,207.25
61 $71,207.25 $1,000.16 $0.00 $402.62 $72,610.03
62 $72,610.03 $1,000.16 $0.00 $410.55 $74,020.74
63 $74,020.74 $1,000.16 $0.00 $418.52 $75,439.42
64 $75,439.42 $1,000.16 $0.00 $426.55 $76,866.13
65 $76,866.13 $1,000.16 $0.00 $434.61 $78,300.90
66 $78,300.90 $1,000.16 $0.00 $442.72 $79,743.78
67 $79,743.78 $1,000.16 $0.00 $450.88 $81,194.82
68 $81,194.82 $1,000.16 $0.00 $459.09 $82,654.07
69 $82,654.07 $1,000.16 $0.00 $467.34 $84,121.57
70 $84,121.57 $1,000.16 $0.00 $475.64 $85,597.37
71 $85,597.37 $1,000.16 $0.00 $483.98 $87,081.51
72 $87,081.51 $1,000.16 $0.00 $492.37 $88,574.04
73 $88,574.04 $1,000.16 $0.00 $500.81 $90,075.01
74 $90,075.01 $1,000.16 $0.00 $509.30 $91,584.47
75 $91,584.47 $1,000.16 $0.00 $517.83 $93,102.46
76 $93,102.46 $1,000.16 $0.00 $526.41 $94,629.03
77 $94,629.03 $1,000.16 $0.00 $535.05 $96,164.24
78 $96,164.24 $1,000.16 $0.00 $543.73 $97,708.13
79 $97,708.13 $1,000.16 $0.00 $552.46 $99,260.75
80 $99,260.75 $1,000.16 $0.00 $561.23 $100,822.14
81 $100,822.14 $1,000.16 $0.00 $570.06 $102,392.36
82 $102,392.36 $1,000.16 $0.00 $578.94 $103,971.46
83 $103,971.46 $1,000.16 $0.00 $587.87 $105,559.49
84 $105,559.49 $1,000.16 $0.00 $596.85 $107,156.50
85 $107,156.50 $1,000.16 $0.00 $605.88 $108,762.54
86 $108,762.54 $1,000.16 $0.00 $614.96 $110,377.66
87 $110,377.66 $1,000.16 $0.00 $624.09 $112,001.91
88 $112,001.91 $1,000.16 $0.00 $633.28 $113,635.35
89 $113,635.35 $1,000.16 $0.00 $642.51 $115,278.02
90 $115,278.02 $1,000.16 $0.00 $651.80 $116,929.98
91 $116,929.98 $1,000.16 $0.00 $661.14 $118,591.28
92 $118,591.28 $1,000.16 $0.00 $670.53 $120,261.97
93 $120,261.97 $1,000.16 $0.00 $679.98 $121,942.11
94 $121,942.11 $1,000.16 $0.00 $689.48 $123,631.75
95 $123,631.75 $1,000.16 $0.00 $699.03 $125,330.94
96 $125,330.94 $1,000.16 $0.00 $708.64 $127,039.74
97 $127,039.74 $1,000.16 $0.00 $718.30 $128,758.20
98 $128,758.20 $1,000.16 $0.00 $728.02 $130,486.38
99 $130,486.38 $1,000.16 $0.00 $737.79 $132,224.33
100 $132,224.33 $1,000.16 $0.00 $747.62 $133,972.11
101 $133,972.11 $1,000.16 $0.00 $757.50 $135,729.77
102 $135,729.77 $1,000.16 $0.00 $767.44 $137,497.37
103 $137,497.37 $1,000.16 $0.00 $777.43 $139,274.96
104 $139,274.96 $1,000.16 $0.00 $787.48 $141,062.60
105 $141,062.60 $1,000.16 $0.00 $797.59 $142,860.35
106 $142,860.35 $1,000.16 $0.00 $807.75 $144,668.26
107 $144,668.26 $1,000.16 $0.00 $817.98 $146,486.40
108 $146,486.40 $1,000.16 $0.00 $828.26 $148,314.82
109 $148,314.82 $1,000.16 $0.00 $838.59 $150,153.57
110 $150,153.57 $1,000.16 $0.00 $848.99 $152,002.72
111 $152,002.72 $1,000.16 $0.00 $859.45 $153,862.33
112 $153,862.33 $1,000.16 $0.00 $869.96 $155,732.45
113 $155,732.45 $1,000.16 $0.00 $880.53 $157,613.14
114 $157,613.14 $1,000.16 $0.00 $891.17 $159,504.47
115 $159,504.47 $1,000.16 $0.00 $901.86 $161,406.49
116 $161,406.49 $1,000.16 $0.00 $912.62 $163,319.27
117 $163,319.27 $1,000.16 $0.00 $923.43 $165,242.86
118 $165,242.86 $1,000.16 $0.00 $934.31 $167,177.33
119 $167,177.33 $1,000.16 $0.00 $945.24 $169,122.73
120 $169,122.73 $1,000.16 $0.00 $956.24 $171,079.13
121 $171,079.13 $1,000.16 $0.00 $967.31 $173,046.60
122 $173,046.60 $1,000.16 $0.00 $978.43 $175,025.19
123 $175,025.19 $1,000.16 $0.00 $989.62 $177,014.97
124 $177,014.97 $1,000.16 $0.00 $1,000.87 $179,016.00
125 $179,016.00 $1,000.16 $0.00 $1,012.18 $181,028.34
126 $181,028.34 $1,000.16 $0.00 $1,023.56 $183,052.06
127 $183,052.06 $1,000.16 $0.00 $1,035.00 $185,087.22
128 $185,087.22 $1,000.16 $0.00 $1,046.51 $187,133.89
129 $187,133.89 $1,000.16 $0.00 $1,058.08 $189,192.13
130 $189,192.13 $1,000.16 $0.00 $1,069.72 $191,262.01
131 $191,262.01 $1,000.16 $0.00 $1,081.42 $193,343.59
132 $193,343.59 $1,000.16 $0.00 $1,093.19 $195,436.94
133 $195,436.94 $1,000.16 $0.00 $1,105.03 $197,542.13
134 $197,542.13 $1,000.16 $0.00 $1,116.93 $199,659.22
135 $199,659.22 $1,000.16 $0.00 $1,128.90 $201,788.28
136 $201,788.28 $1,000.16 $0.00 $1,140.94 $203,929.38
137 $203,929.38 $1,000.16 $0.00 $1,153.05 $206,082.59
138 $206,082.59 $1,000.16 $0.00 $1,165.22 $208,247.97
139 $208,247.97 $1,000.16 $0.00 $1,177.46 $210,425.59
140 $210,425.59 $1,000.16 $0.00 $1,189.78 $212,615.53
141 $212,615.53 $1,000.16 $0.00 $1,202.16 $214,817.85
142 $214,817.85 $1,000.16 $0.00 $1,214.61 $217,032.62
143 $217,032.62 $1,000.16 $0.00 $1,227.13 $219,259.91
144 $219,259.91 $1,000.16 $0.00 $1,239.73 $221,499.80
145 $221,499.80 $1,000.16 $0.00 $1,252.39 $223,752.35
146 $223,752.35 $1,000.16 $0.00 $1,265.13 $226,017.64
147 $226,017.64 $1,000.16 $0.00 $1,277.94 $228,295.74
148 $228,295.74 $1,000.16 $0.00 $1,290.82 $230,586.72
149 $230,586.72 $1,000.16 $0.00 $1,303.77 $232,890.65
150 $232,890.65 $1,000.16 $0.00 $1,316.80 $235,207.61
151 $235,207.61 $1,000.16 $0.00 $1,329.90 $237,537.67
152 $237,537.67 $1,000.16 $0.00 $1,343.07 $239,880.90
153 $239,880.90 $1,000.16 $0.00 $1,356.32 $242,237.38
154 $242,237.38 $1,000.16 $0.00 $1,369.65 $244,607.19
155 $244,607.19 $1,000.16 $0.00 $1,383.04 $246,990.39
156 $246,990.39 $1,000.16 $0.00 $1,396.52 $249,387.07
157 $249,387.07 $1,000.16 $0.00 $1,410.07 $251,797.30
158 $251,797.30 $1,000.16 $0.00 $1,423.70 $254,221.16
159 $254,221.16 $1,000.16 $0.00 $1,437.40 $256,658.72
160 $256,658.72 $1,000.16 $0.00 $1,451.19 $259,110.07
161 $259,110.07 $1,000.16 $0.00 $1,465.05 $261,575.28
162 $261,575.28 $1,000.16 $0.00 $1,478.98 $264,054.42
163 $264,054.42 $1,000.16 $0.00 $1,493.00 $266,547.58
164 $266,547.58 $1,000.16 $0.00 $1,507.10 $269,054.84
165 $269,054.84 $1,000.16 $0.00 $1,521.28 $271,576.28
166 $271,576.28 $1,000.16 $0.00 $1,535.53 $274,111.97
167 $274,111.97 $1,000.16 $0.00 $1,549.87 $276,662.00
168 $276,662.00 $1,000.16 $0.00 $1,564.29 $279,226.45
169 $279,226.45 $1,000.16 $0.00 $1,578.79 $281,805.40
170 $281,805.40 $1,000.16 $0.00 $1,593.37 $284,398.93
171 $284,398.93 $1,000.16 $0.00 $1,608.03 $287,007.12
172 $287,007.12 $1,000.16 $0.00 $1,622.78 $289,630.06
173 $289,630.06 $1,000.16 $0.00 $1,637.61 $292,267.83
174 $292,267.83 $1,000.16 $0.00 $1,652.52 $294,920.51
175 $294,920.51 $1,000.16 $0.00 $1,667.52 $297,588.19
176 $297,588.19 $1,000.16 $0.00 $1,682.61 $300,270.96
177 $300,270.96 $1,000.16 $0.00 $1,697.78 $302,968.90
178 $302,968.90 $1,000.16 $0.00 $1,713.03 $305,682.09
179 $305,682.09 $1,000.16 $0.00 $1,728.37 $308,410.62
180 $308,410.62 $1,000.16 $0.00 $1,743.80 $311,154.58
181 $311,154.58 $1,000.16 $0.00 $1,759.31 $313,914.05
182 $313,914.05 $1,000.16 $0.00 $1,774.92 $316,689.13
183 $316,689.13 $1,000.16 $0.00 $1,790.61 $319,479.90
184 $319,479.90 $1,000.16 $0.00 $1,806.39 $322,286.45
185 $322,286.45 $1,000.16 $0.00 $1,822.25 $325,108.86
186 $325,108.86 $1,000.16 $0.00 $1,838.21 $327,947.23
187 $327,947.23 $1,000.16 $0.00 $1,854.26 $330,801.65
188 $330,801.65 $1,000.16 $0.00 $1,870.40 $333,672.21
189 $333,672.21 $1,000.16 $0.00 $1,886.63 $336,559.00
190 $336,559.00 $1,000.16 $0.00 $1,902.95 $339,462.11
191 $339,462.11 $1,000.16 $0.00 $1,919.37 $342,381.64
192 $342,381.64 $1,000.16 $0.00 $1,935.88 $345,317.68
193 $345,317.68 $1,000.16 $0.00 $1,952.48 $348,270.32
194 $348,270.32 $1,000.16 $0.00 $1,969.17 $351,239.65
195 $351,239.65 $1,000.16 $0.00 $1,985.96 $354,225.77
196 $354,225.77 $1,000.16 $0.00 $2,002.84 $357,228.77
197 $357,228.77 $1,000.16 $0.00 $2,019.82 $360,248.75
198 $360,248.75 $1,000.16 $0.00 $2,036.90 $363,285.81
199 $363,285.81 $1,000.16 $0.00 $2,054.07 $366,340.04
200 $366,340.04 $1,000.16 $0.00 $2,071.34 $369,411.54
201 $369,411.54 $1,000.16 $0.00 $2,088.71 $372,500.41
202 $372,500.41 $1,000.16 $0.00 $2,106.17 $375,606.74
203 $375,606.74 $1,000.16 $0.00 $2,123.74 $378,730.64
204 $378,730.64 $1,000.16 $0.00 $2,141.40 $381,872.20
205 $381,872.20 $1,000.16 $0.00 $2,159.16 $385,031.52
206 $385,031.52 $1,000.16 $0.00 $2,177.02 $388,208.70
207 $388,208.70 $1,000.16 $0.00 $2,194.99 $391,403.85
208 $391,403.85 $1,000.16 $0.00 $2,213.05 $394,617.06
209 $394,617.06 $1,000.16 $0.00 $2,231.22 $397,848.44
210 $397,848.44 $1,000.16 $0.00 $2,249.49 $401,098.09
211 $401,098.09 $1,000.16 $0.00 $2,267.87 $404,366.12
212 $404,366.12 $1,000.16 $0.00 $2,286.34 $407,652.62
213 $407,652.62 $1,000.16 $0.00 $2,304.93 $410,957.71
214 $410,957.71 $1,000.16 $0.00 $2,323.61 $414,281.48
215 $414,281.48 $1,000.16 $0.00 $2,342.41 $417,624.05
216 $417,624.05 $1,000.16 $0.00 $2,361.31 $420,985.52
217 $420,985.52 $1,000.16 $117,257.71 $2,380.31 $307,108.28
218 $307,108.28 $1,000.16 $0.00 $1,736.43 $309,844.87
219 $309,844.87 $1,000.16 $0.00 $1,751.91 $312,596.94
220 $312,596.94 $1,000.16 $0.00 $1,767.47 $315,364.57
221 $315,364.57 $1,000.16 $0.00 $1,783.12 $318,147.85
222 $318,147.85 $1,000.16 $0.00 $1,798.85 $320,946.86
223 $320,946.86 $1,000.16 $0.00 $1,814.68 $323,761.70
224 $323,761.70 $1,000.16 $0.00 $1,830.60 $326,592.46
225 $326,592.46 $1,000.16 $0.00 $1,846.60 $329,439.22
226 $329,439.22 $1,000.16 $0.00 $1,862.70 $332,302.08
227 $332,302.08 $1,000.16 $0.00 $1,878.88 $335,181.12
228 $335,181.12 $1,000.16 $0.00 $1,895.16 $338,076.44
229 $338,076.44 $1,000.16 $123,120.59 $1,911.53 $217,867.54
230 $217,867.54 $1,000.16 $0.00 $1,231.85 $220,099.55
231 $220,099.55 $1,000.16 $0.00 $1,244.47 $222,344.18
232 $222,344.18 $1,000.16 $0.00 $1,257.17 $224,601.51
233 $224,601.51 $1,000.16 $0.00 $1,269.93 $226,871.60
234 $226,871.60 $1,000.16 $0.00 $1,282.77 $229,154.53
235 $229,154.53 $1,000.16 $0.00 $1,295.67 $231,450.36
236 $231,450.36 $1,000.16 $0.00 $1,308.65 $233,759.17
237 $233,759.17 $1,000.16 $0.00 $1,321.71 $236,081.04
238 $236,081.04 $1,000.16 $0.00 $1,334.84 $238,416.04
239 $238,416.04 $1,000.16 $0.00 $1,348.04 $240,764.24
240 $240,764.24 $1,000.16 $0.00 $1,361.32 $243,125.72
241 $243,125.72 $1,000.16 $129,276.62 $1,374.67 $116,223.93
242 $116,223.93 $1,000.16 $0.00 $657.15 $117,881.24
243 $117,881.24 $1,000.16 $0.00 $666.52 $119,547.92
244 $119,547.92 $1,000.16 $0.00 $675.94 $121,224.02
245 $121,224.02 $1,000.16 $0.00 $685.42 $122,909.60
246 $122,909.60 $1,000.16 $0.00 $694.95 $124,604.71
247 $124,604.71 $1,000.16 $0.00 $704.53 $126,309.40
248 $126,309.40 $1,000.16 $0.00 $714.17 $128,023.73
249 $128,023.73 $1,000.16 $0.00 $723.86 $129,747.75
250 $129,747.75 $1,000.16 $0.00 $733.61 $131,481.52
251 $131,481.52 $1,000.16 $0.00 $743.42 $133,225.10
252 $133,225.10 $1,000.16 $0.00 $753.27 $134,978.53
253 $134,978.53 $0.00 $135,740.46 $763.19 $1.26