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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$62,963
Monthly savings required$498

How much will it cost to send your child to Ball State University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $251,852.31 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $498.41 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$24,280.00
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 $498.41 $0.00 $0.00 $498.41
2 $498.41 $498.41 $0.00 $2.82 $999.64
3 $999.64 $498.41 $0.00 $5.65 $1,503.70
4 $1,503.70 $498.41 $0.00 $8.50 $2,010.61
5 $2,010.61 $498.41 $0.00 $11.37 $2,520.39
6 $2,520.39 $498.41 $0.00 $14.25 $3,033.05
7 $3,033.05 $498.41 $0.00 $17.15 $3,548.61
8 $3,548.61 $498.41 $0.00 $20.06 $4,067.08
9 $4,067.08 $498.41 $0.00 $23.00 $4,588.49
10 $4,588.49 $498.41 $0.00 $25.94 $5,112.84
11 $5,112.84 $498.41 $0.00 $28.91 $5,640.16
12 $5,640.16 $498.41 $0.00 $31.89 $6,170.46
13 $6,170.46 $498.41 $0.00 $34.89 $6,703.76
14 $6,703.76 $498.41 $0.00 $37.90 $7,240.07
15 $7,240.07 $498.41 $0.00 $40.94 $7,779.42
16 $7,779.42 $498.41 $0.00 $43.99 $8,321.82
17 $8,321.82 $498.41 $0.00 $47.05 $8,867.28
18 $8,867.28 $498.41 $0.00 $50.14 $9,415.83
19 $9,415.83 $498.41 $0.00 $53.24 $9,967.48
20 $9,967.48 $498.41 $0.00 $56.36 $10,522.25
21 $10,522.25 $498.41 $0.00 $59.49 $11,080.15
22 $11,080.15 $498.41 $0.00 $62.65 $11,641.21
23 $11,641.21 $498.41 $0.00 $65.82 $12,205.44
24 $12,205.44 $498.41 $0.00 $69.01 $12,772.86
25 $12,772.86 $498.41 $0.00 $72.22 $13,343.49
26 $13,343.49 $498.41 $0.00 $75.45 $13,917.35
27 $13,917.35 $498.41 $0.00 $78.69 $14,494.45
28 $14,494.45 $498.41 $0.00 $81.95 $15,074.81
29 $15,074.81 $498.41 $0.00 $85.24 $15,658.46
30 $15,658.46 $498.41 $0.00 $88.54 $16,245.41
31 $16,245.41 $498.41 $0.00 $91.85 $16,835.67
32 $16,835.67 $498.41 $0.00 $95.19 $17,429.27
33 $17,429.27 $498.41 $0.00 $98.55 $18,026.23
34 $18,026.23 $498.41 $0.00 $101.92 $18,626.56
35 $18,626.56 $498.41 $0.00 $105.32 $19,230.29
36 $19,230.29 $498.41 $0.00 $108.73 $19,837.43
37 $19,837.43 $498.41 $0.00 $112.16 $20,448.00
38 $20,448.00 $498.41 $0.00 $115.62 $21,062.03
39 $21,062.03 $498.41 $0.00 $119.09 $21,679.53
40 $21,679.53 $498.41 $0.00 $122.58 $22,300.52
41 $22,300.52 $498.41 $0.00 $126.09 $22,925.02
42 $22,925.02 $498.41 $0.00 $129.62 $23,553.05
43 $23,553.05 $498.41 $0.00 $133.17 $24,184.63
44 $24,184.63 $498.41 $0.00 $136.74 $24,819.78
45 $24,819.78 $498.41 $0.00 $140.33 $25,458.52
46 $25,458.52 $498.41 $0.00 $143.95 $26,100.88
47 $26,100.88 $498.41 $0.00 $147.58 $26,746.87
48 $26,746.87 $498.41 $0.00 $151.23 $27,396.51
49 $27,396.51 $498.41 $0.00 $154.90 $28,049.82
50 $28,049.82 $498.41 $0.00 $158.60 $28,706.83
51 $28,706.83 $498.41 $0.00 $162.31 $29,367.55
52 $29,367.55 $498.41 $0.00 $166.05 $30,032.01
53 $30,032.01 $498.41 $0.00 $169.81 $30,700.23
54 $30,700.23 $498.41 $0.00 $173.58 $31,372.22
55 $31,372.22 $498.41 $0.00 $177.38 $32,048.01
56 $32,048.01 $498.41 $0.00 $181.20 $32,727.62
57 $32,727.62 $498.41 $0.00 $185.05 $33,411.08
58 $33,411.08 $498.41 $0.00 $188.91 $34,098.40
59 $34,098.40 $498.41 $0.00 $192.80 $34,789.61
60 $34,789.61 $498.41 $0.00 $196.71 $35,484.73
61 $35,484.73 $498.41 $0.00 $200.64 $36,183.78
62 $36,183.78 $498.41 $0.00 $204.59 $36,886.78
63 $36,886.78 $498.41 $0.00 $208.56 $37,593.75
64 $37,593.75 $498.41 $0.00 $212.56 $38,304.72
65 $38,304.72 $498.41 $0.00 $216.58 $39,019.71
66 $39,019.71 $498.41 $0.00 $220.62 $39,738.74
67 $39,738.74 $498.41 $0.00 $224.69 $40,461.84
68 $40,461.84 $498.41 $0.00 $228.78 $41,189.03
69 $41,189.03 $498.41 $0.00 $232.89 $41,920.33
70 $41,920.33 $498.41 $0.00 $237.02 $42,655.76
71 $42,655.76 $498.41 $0.00 $241.18 $43,395.35
72 $43,395.35 $498.41 $0.00 $245.36 $44,139.12
73 $44,139.12 $498.41 $0.00 $249.57 $44,887.10
74 $44,887.10 $498.41 $0.00 $253.80 $45,639.31
75 $45,639.31 $498.41 $0.00 $258.05 $46,395.77
76 $46,395.77 $498.41 $0.00 $262.33 $47,156.51
77 $47,156.51 $498.41 $0.00 $266.63 $47,921.55
78 $47,921.55 $498.41 $0.00 $270.96 $48,690.92
79 $48,690.92 $498.41 $0.00 $275.31 $49,464.64
80 $49,464.64 $498.41 $0.00 $279.68 $50,242.73
81 $50,242.73 $498.41 $0.00 $284.08 $51,025.22
82 $51,025.22 $498.41 $0.00 $288.50 $51,812.13
83 $51,812.13 $498.41 $0.00 $292.95 $52,603.49
84 $52,603.49 $498.41 $0.00 $297.43 $53,399.33
85 $53,399.33 $498.41 $0.00 $301.93 $54,199.67
86 $54,199.67 $498.41 $0.00 $306.45 $55,004.53
87 $55,004.53 $498.41 $0.00 $311.00 $55,813.94
88 $55,813.94 $498.41 $0.00 $315.58 $56,627.93
89 $56,627.93 $498.41 $0.00 $320.18 $57,446.52
90 $57,446.52 $498.41 $0.00 $324.81 $58,269.74
91 $58,269.74 $498.41 $0.00 $329.47 $59,097.62
92 $59,097.62 $498.41 $0.00 $334.15 $59,930.18
93 $59,930.18 $498.41 $0.00 $338.85 $60,767.44
94 $60,767.44 $498.41 $0.00 $343.59 $61,609.44
95 $61,609.44 $498.41 $0.00 $348.35 $62,456.20
96 $62,456.20 $498.41 $0.00 $353.14 $63,307.75
97 $63,307.75 $498.41 $0.00 $357.95 $64,164.11
98 $64,164.11 $498.41 $0.00 $362.79 $65,025.31
99 $65,025.31 $498.41 $0.00 $367.66 $65,891.38
100 $65,891.38 $498.41 $0.00 $372.56 $66,762.35
101 $66,762.35 $498.41 $0.00 $377.48 $67,638.24
102 $67,638.24 $498.41 $0.00 $382.44 $68,519.09
103 $68,519.09 $498.41 $0.00 $387.42 $69,404.92
104 $69,404.92 $498.41 $0.00 $392.43 $70,295.76
105 $70,295.76 $498.41 $0.00 $397.46 $71,191.63
106 $71,191.63 $498.41 $0.00 $402.53 $72,092.57
107 $72,092.57 $498.41 $0.00 $407.62 $72,998.60
108 $72,998.60 $498.41 $0.00 $412.74 $73,909.75
109 $73,909.75 $498.41 $0.00 $417.90 $74,826.06
110 $74,826.06 $498.41 $0.00 $423.08 $75,747.55
111 $75,747.55 $498.41 $0.00 $428.29 $76,674.25
112 $76,674.25 $498.41 $0.00 $433.53 $77,606.19
113 $77,606.19 $498.41 $0.00 $438.80 $78,543.40
114 $78,543.40 $498.41 $0.00 $444.10 $79,485.91
115 $79,485.91 $498.41 $0.00 $449.42 $80,433.74
116 $80,433.74 $498.41 $0.00 $454.78 $81,386.93
117 $81,386.93 $498.41 $0.00 $460.17 $82,345.51
118 $82,345.51 $498.41 $0.00 $465.59 $83,309.51
119 $83,309.51 $498.41 $0.00 $471.04 $84,278.96
120 $84,278.96 $498.41 $0.00 $476.53 $85,253.90
121 $85,253.90 $498.41 $0.00 $482.04 $86,234.35
122 $86,234.35 $498.41 $0.00 $487.58 $87,220.34
123 $87,220.34 $498.41 $0.00 $493.16 $88,211.91
124 $88,211.91 $498.41 $0.00 $498.76 $89,209.08
125 $89,209.08 $498.41 $0.00 $504.40 $90,211.89
126 $90,211.89 $498.41 $0.00 $510.07 $91,220.37
127 $91,220.37 $498.41 $0.00 $515.77 $92,234.55
128 $92,234.55 $498.41 $0.00 $521.51 $93,254.47
129 $93,254.47 $498.41 $0.00 $527.27 $94,280.15
130 $94,280.15 $498.41 $0.00 $533.07 $95,311.63
131 $95,311.63 $498.41 $0.00 $538.91 $96,348.95
132 $96,348.95 $498.41 $0.00 $544.77 $97,392.13
133 $97,392.13 $498.41 $0.00 $550.67 $98,441.21
134 $98,441.21 $498.41 $0.00 $556.60 $99,496.22
135 $99,496.22 $498.41 $0.00 $562.57 $100,557.20
136 $100,557.20 $498.41 $0.00 $568.57 $101,624.18
137 $101,624.18 $498.41 $0.00 $574.60 $102,697.19
138 $102,697.19 $498.41 $0.00 $580.66 $103,776.26
139 $103,776.26 $498.41 $0.00 $586.77 $104,861.44
140 $104,861.44 $498.41 $0.00 $592.90 $105,952.75
141 $105,952.75 $498.41 $0.00 $599.07 $107,050.23
142 $107,050.23 $498.41 $0.00 $605.28 $108,153.92
143 $108,153.92 $498.41 $0.00 $611.52 $109,263.85
144 $109,263.85 $498.41 $0.00 $617.79 $110,380.05
145 $110,380.05 $498.41 $0.00 $624.10 $111,502.56
146 $111,502.56 $498.41 $0.00 $630.45 $112,631.42
147 $112,631.42 $498.41 $0.00 $636.83 $113,766.66
148 $113,766.66 $498.41 $0.00 $643.25 $114,908.32
149 $114,908.32 $498.41 $0.00 $649.71 $116,056.44
150 $116,056.44 $498.41 $0.00 $656.20 $117,211.05
151 $117,211.05 $498.41 $0.00 $662.73 $118,372.19
152 $118,372.19 $498.41 $0.00 $669.29 $119,539.89
153 $119,539.89 $498.41 $0.00 $675.90 $120,714.20
154 $120,714.20 $498.41 $0.00 $682.54 $121,895.15
155 $121,895.15 $498.41 $0.00 $689.21 $123,082.77
156 $123,082.77 $498.41 $0.00 $695.93 $124,277.11
157 $124,277.11 $498.41 $0.00 $702.68 $125,478.20
158 $125,478.20 $498.41 $0.00 $709.47 $126,686.08
159 $126,686.08 $498.41 $0.00 $716.30 $127,900.79
160 $127,900.79 $498.41 $0.00 $723.17 $129,122.37
161 $129,122.37 $498.41 $0.00 $730.08 $130,350.86
162 $130,350.86 $498.41 $0.00 $737.02 $131,586.29
163 $131,586.29 $498.41 $0.00 $744.01 $132,828.71
164 $132,828.71 $498.41 $0.00 $751.03 $134,078.15
165 $134,078.15 $498.41 $0.00 $758.10 $135,334.66
166 $135,334.66 $498.41 $0.00 $765.20 $136,598.27
167 $136,598.27 $498.41 $0.00 $772.35 $137,869.03
168 $137,869.03 $498.41 $0.00 $779.53 $139,146.97
169 $139,146.97 $498.41 $0.00 $786.76 $140,432.14
170 $140,432.14 $498.41 $0.00 $794.02 $141,724.57
171 $141,724.57 $498.41 $0.00 $801.33 $143,024.31
172 $143,024.31 $498.41 $0.00 $808.68 $144,331.40
173 $144,331.40 $498.41 $0.00 $816.07 $145,645.88
174 $145,645.88 $498.41 $0.00 $823.50 $146,967.79
175 $146,967.79 $498.41 $0.00 $830.98 $148,297.18
176 $148,297.18 $498.41 $0.00 $838.49 $149,634.08
177 $149,634.08 $498.41 $0.00 $846.05 $150,978.54
178 $150,978.54 $498.41 $0.00 $853.65 $152,330.60
179 $152,330.60 $498.41 $0.00 $861.30 $153,690.31
180 $153,690.31 $498.41 $0.00 $868.99 $155,057.71
181 $155,057.71 $498.41 $0.00 $876.72 $156,432.84
182 $156,432.84 $498.41 $0.00 $884.49 $157,815.74
183 $157,815.74 $498.41 $0.00 $892.31 $159,206.46
184 $159,206.46 $498.41 $0.00 $900.18 $160,605.05
185 $160,605.05 $498.41 $0.00 $908.08 $162,011.54
186 $162,011.54 $498.41 $0.00 $916.04 $163,425.99
187 $163,425.99 $498.41 $0.00 $924.03 $164,848.43
188 $164,848.43 $498.41 $0.00 $932.08 $166,278.92
189 $166,278.92 $498.41 $0.00 $940.17 $167,717.50
190 $167,717.50 $498.41 $0.00 $948.30 $169,164.21
191 $169,164.21 $498.41 $0.00 $956.48 $170,619.10
192 $170,619.10 $498.41 $0.00 $964.71 $172,082.22
193 $172,082.22 $498.41 $0.00 $972.98 $173,553.61
194 $173,553.61 $498.41 $0.00 $981.30 $175,033.32
195 $175,033.32 $498.41 $0.00 $989.66 $176,521.39
196 $176,521.39 $498.41 $0.00 $998.08 $178,017.88
197 $178,017.88 $498.41 $0.00 $1,006.54 $179,522.83
198 $179,522.83 $498.41 $0.00 $1,015.05 $181,036.29
199 $181,036.29 $498.41 $0.00 $1,023.61 $182,558.31
200 $182,558.31 $498.41 $0.00 $1,032.21 $184,088.93
201 $184,088.93 $498.41 $0.00 $1,040.87 $185,628.21
202 $185,628.21 $498.41 $0.00 $1,049.57 $187,176.19
203 $187,176.19 $498.41 $0.00 $1,058.32 $188,732.92
204 $188,732.92 $498.41 $0.00 $1,067.12 $190,298.45
205 $190,298.45 $498.41 $0.00 $1,075.98 $191,872.84
206 $191,872.84 $498.41 $0.00 $1,084.88 $193,456.13
207 $193,456.13 $498.41 $0.00 $1,093.83 $195,048.37
208 $195,048.37 $498.41 $0.00 $1,102.83 $196,649.61
209 $196,649.61 $498.41 $0.00 $1,111.89 $198,259.91
210 $198,259.91 $498.41 $0.00 $1,120.99 $199,879.31
211 $199,879.31 $498.41 $0.00 $1,130.15 $201,507.87
212 $201,507.87 $498.41 $0.00 $1,139.35 $203,145.63
213 $203,145.63 $498.41 $0.00 $1,148.61 $204,792.65
214 $204,792.65 $498.41 $0.00 $1,157.93 $206,448.99
215 $206,448.99 $498.41 $0.00 $1,167.29 $208,114.69
216 $208,114.69 $498.41 $0.00 $1,176.71 $209,789.81
217 $209,789.81 $498.41 $58,432.71 $1,186.18 $153,041.69
218 $153,041.69 $498.41 $0.00 $865.32 $154,405.42
219 $154,405.42 $498.41 $0.00 $873.03 $155,776.86
220 $155,776.86 $498.41 $0.00 $880.79 $157,156.06
221 $157,156.06 $498.41 $0.00 $888.58 $158,543.05
222 $158,543.05 $498.41 $0.00 $896.43 $159,937.89
223 $159,937.89 $498.41 $0.00 $904.31 $161,340.61
224 $161,340.61 $498.41 $0.00 $912.24 $162,751.26
225 $162,751.26 $498.41 $0.00 $920.22 $164,169.89
226 $164,169.89 $498.41 $0.00 $928.24 $165,596.54
227 $165,596.54 $498.41 $0.00 $936.31 $167,031.26
228 $167,031.26 $498.41 $0.00 $944.42 $168,474.09
229 $168,474.09 $498.41 $61,354.35 $952.58 $108,570.73
230 $108,570.73 $498.41 $0.00 $613.87 $109,683.01
231 $109,683.01 $498.41 $0.00 $620.16 $110,801.58
232 $110,801.58 $498.41 $0.00 $626.49 $111,926.48
233 $111,926.48 $498.41 $0.00 $632.85 $113,057.74
234 $113,057.74 $498.41 $0.00 $639.24 $114,195.39
235 $114,195.39 $498.41 $0.00 $645.68 $115,339.48
236 $115,339.48 $498.41 $0.00 $652.15 $116,490.04
237 $116,490.04 $498.41 $0.00 $658.65 $117,647.10
238 $117,647.10 $498.41 $0.00 $665.19 $118,810.70
239 $118,810.70 $498.41 $0.00 $671.77 $119,980.88
240 $119,980.88 $498.41 $0.00 $678.39 $121,157.68
241 $121,157.68 $498.41 $64,422.07 $685.04 $57,919.06
242 $57,919.06 $498.41 $0.00 $327.48 $58,744.95
243 $58,744.95 $498.41 $0.00 $332.15 $59,575.51
244 $59,575.51 $498.41 $0.00 $336.85 $60,410.77
245 $60,410.77 $498.41 $0.00 $341.57 $61,250.75
246 $61,250.75 $498.41 $0.00 $346.32 $62,095.48
247 $62,095.48 $498.41 $0.00 $351.10 $62,944.99
248 $62,944.99 $498.41 $0.00 $355.90 $63,799.30
249 $63,799.30 $498.41 $0.00 $360.73 $64,658.44
250 $64,658.44 $498.41 $0.00 $365.59 $65,522.44
251 $65,522.44 $498.41 $0.00 $370.47 $66,391.32
252 $66,391.32 $498.41 $0.00 $375.39 $67,265.12
253 $67,265.12 $0.00 $67,643.17 $380.33 $2.28