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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$58,477
Monthly savings required$463

How much will it cost to send your child to Indiana University Purdue University Indianapolis in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $233,907.31 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $462.89 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$22,550.00
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 $462.89 $0.00 $0.00 $462.89
2 $462.89 $462.89 $0.00 $2.62 $928.40
3 $928.40 $462.89 $0.00 $5.25 $1,396.54
4 $1,396.54 $462.89 $0.00 $7.90 $1,867.33
5 $1,867.33 $462.89 $0.00 $10.56 $2,340.78
6 $2,340.78 $462.89 $0.00 $13.24 $2,816.91
7 $2,816.91 $462.89 $0.00 $15.93 $3,295.73
8 $3,295.73 $462.89 $0.00 $18.63 $3,777.25
9 $3,777.25 $462.89 $0.00 $21.36 $4,261.50
10 $4,261.50 $462.89 $0.00 $24.10 $4,748.49
11 $4,748.49 $462.89 $0.00 $26.85 $5,238.23
12 $5,238.23 $462.89 $0.00 $29.62 $5,730.74
13 $5,730.74 $462.89 $0.00 $32.40 $6,226.03
14 $6,226.03 $462.89 $0.00 $35.20 $6,724.12
15 $6,724.12 $462.89 $0.00 $38.02 $7,225.03
16 $7,225.03 $462.89 $0.00 $40.85 $7,728.77
17 $7,728.77 $462.89 $0.00 $43.70 $8,235.36
18 $8,235.36 $462.89 $0.00 $46.56 $8,744.81
19 $8,744.81 $462.89 $0.00 $49.44 $9,257.14
20 $9,257.14 $462.89 $0.00 $52.34 $9,772.37
21 $9,772.37 $462.89 $0.00 $55.25 $10,290.51
22 $10,290.51 $462.89 $0.00 $58.18 $10,811.58
23 $10,811.58 $462.89 $0.00 $61.13 $11,335.60
24 $11,335.60 $462.89 $0.00 $64.09 $11,862.58
25 $11,862.58 $462.89 $0.00 $67.07 $12,392.54
26 $12,392.54 $462.89 $0.00 $70.07 $12,925.50
27 $12,925.50 $462.89 $0.00 $73.08 $13,461.47
28 $13,461.47 $462.89 $0.00 $76.11 $14,000.47
29 $14,000.47 $462.89 $0.00 $79.16 $14,542.52
30 $14,542.52 $462.89 $0.00 $82.23 $15,087.64
31 $15,087.64 $462.89 $0.00 $85.31 $15,635.84
32 $15,635.84 $462.89 $0.00 $88.41 $16,187.14
33 $16,187.14 $462.89 $0.00 $91.52 $16,741.55
34 $16,741.55 $462.89 $0.00 $94.66 $17,299.10
35 $17,299.10 $462.89 $0.00 $97.81 $17,859.80
36 $17,859.80 $462.89 $0.00 $100.98 $18,423.67
37 $18,423.67 $462.89 $0.00 $104.17 $18,990.73
38 $18,990.73 $462.89 $0.00 $107.38 $19,561.00
39 $19,561.00 $462.89 $0.00 $110.60 $20,134.49
40 $20,134.49 $462.89 $0.00 $113.84 $20,711.22
41 $20,711.22 $462.89 $0.00 $117.10 $21,291.21
42 $21,291.21 $462.89 $0.00 $120.38 $21,874.48
43 $21,874.48 $462.89 $0.00 $123.68 $22,461.05
44 $22,461.05 $462.89 $0.00 $127.00 $23,050.94
45 $23,050.94 $462.89 $0.00 $130.33 $23,644.16
46 $23,644.16 $462.89 $0.00 $133.69 $24,240.74
47 $24,240.74 $462.89 $0.00 $137.06 $24,840.69
48 $24,840.69 $462.89 $0.00 $140.45 $25,444.03
49 $25,444.03 $462.89 $0.00 $143.86 $26,050.78
50 $26,050.78 $462.89 $0.00 $147.29 $26,660.96
51 $26,660.96 $462.89 $0.00 $150.74 $27,274.59
52 $27,274.59 $462.89 $0.00 $154.21 $27,891.69
53 $27,891.69 $462.89 $0.00 $157.70 $28,512.28
54 $28,512.28 $462.89 $0.00 $161.21 $29,136.38
55 $29,136.38 $462.89 $0.00 $164.74 $29,764.01
56 $29,764.01 $462.89 $0.00 $168.29 $30,395.19
57 $30,395.19 $462.89 $0.00 $171.86 $31,029.94
58 $31,029.94 $462.89 $0.00 $175.45 $31,668.28
59 $31,668.28 $462.89 $0.00 $179.06 $32,310.23
60 $32,310.23 $462.89 $0.00 $182.69 $32,955.81
61 $32,955.81 $462.89 $0.00 $186.34 $33,605.04
62 $33,605.04 $462.89 $0.00 $190.01 $34,257.94
63 $34,257.94 $462.89 $0.00 $193.70 $34,914.53
64 $34,914.53 $462.89 $0.00 $197.41 $35,574.83
65 $35,574.83 $462.89 $0.00 $201.15 $36,238.87
66 $36,238.87 $462.89 $0.00 $204.90 $36,906.66
67 $36,906.66 $462.89 $0.00 $208.68 $37,578.23
68 $37,578.23 $462.89 $0.00 $212.47 $38,253.59
69 $38,253.59 $462.89 $0.00 $216.29 $38,932.77
70 $38,932.77 $462.89 $0.00 $220.13 $39,615.79
71 $39,615.79 $462.89 $0.00 $223.99 $40,302.67
72 $40,302.67 $462.89 $0.00 $227.88 $40,993.44
73 $40,993.44 $462.89 $0.00 $231.78 $41,688.11
74 $41,688.11 $462.89 $0.00 $235.71 $42,386.71
75 $42,386.71 $462.89 $0.00 $239.66 $43,089.26
76 $43,089.26 $462.89 $0.00 $243.63 $43,795.78
77 $43,795.78 $462.89 $0.00 $247.63 $44,506.30
78 $44,506.30 $462.89 $0.00 $251.65 $45,220.84
79 $45,220.84 $462.89 $0.00 $255.69 $45,939.42
80 $45,939.42 $462.89 $0.00 $259.75 $46,662.06
81 $46,662.06 $462.89 $0.00 $263.83 $47,388.78
82 $47,388.78 $462.89 $0.00 $267.94 $48,119.61
83 $48,119.61 $462.89 $0.00 $272.08 $48,854.58
84 $48,854.58 $462.89 $0.00 $276.23 $49,593.70
85 $49,593.70 $462.89 $0.00 $280.41 $50,337.00
86 $50,337.00 $462.89 $0.00 $284.61 $51,084.50
87 $51,084.50 $462.89 $0.00 $288.84 $51,836.23
88 $51,836.23 $462.89 $0.00 $293.09 $52,592.21
89 $52,592.21 $462.89 $0.00 $297.36 $53,352.46
90 $53,352.46 $462.89 $0.00 $301.66 $54,117.01
91 $54,117.01 $462.89 $0.00 $305.99 $54,885.89
92 $54,885.89 $462.89 $0.00 $310.33 $55,659.11
93 $55,659.11 $462.89 $0.00 $314.70 $56,436.70
94 $56,436.70 $462.89 $0.00 $319.10 $57,218.69
95 $57,218.69 $462.89 $0.00 $323.52 $58,005.10
96 $58,005.10 $462.89 $0.00 $327.97 $58,795.96
97 $58,795.96 $462.89 $0.00 $332.44 $59,591.29
98 $59,591.29 $462.89 $0.00 $336.94 $60,391.12
99 $60,391.12 $462.89 $0.00 $341.46 $61,195.47
100 $61,195.47 $462.89 $0.00 $346.01 $62,004.37
101 $62,004.37 $462.89 $0.00 $350.58 $62,817.84
102 $62,817.84 $462.89 $0.00 $355.18 $63,635.91
103 $63,635.91 $462.89 $0.00 $359.81 $64,458.61
104 $64,458.61 $462.89 $0.00 $364.46 $65,285.96
105 $65,285.96 $462.89 $0.00 $369.14 $66,117.99
106 $66,117.99 $462.89 $0.00 $373.84 $66,954.72
107 $66,954.72 $462.89 $0.00 $378.57 $67,796.18
108 $67,796.18 $462.89 $0.00 $383.33 $68,642.40
109 $68,642.40 $462.89 $0.00 $388.11 $69,493.40
110 $69,493.40 $462.89 $0.00 $392.93 $70,349.22
111 $70,349.22 $462.89 $0.00 $397.76 $71,209.87
112 $71,209.87 $462.89 $0.00 $402.63 $72,075.39
113 $72,075.39 $462.89 $0.00 $407.52 $72,945.80
114 $72,945.80 $462.89 $0.00 $412.45 $73,821.14
115 $73,821.14 $462.89 $0.00 $417.40 $74,701.43
116 $74,701.43 $462.89 $0.00 $422.37 $75,586.69
117 $75,586.69 $462.89 $0.00 $427.38 $76,476.96
118 $76,476.96 $462.89 $0.00 $432.41 $77,372.26
119 $77,372.26 $462.89 $0.00 $437.47 $78,272.62
120 $78,272.62 $462.89 $0.00 $442.56 $79,178.07
121 $79,178.07 $462.89 $0.00 $447.68 $80,088.64
122 $80,088.64 $462.89 $0.00 $452.83 $81,004.36
123 $81,004.36 $462.89 $0.00 $458.01 $81,925.26
124 $81,925.26 $462.89 $0.00 $463.22 $82,851.37
125 $82,851.37 $462.89 $0.00 $468.45 $83,782.71
126 $83,782.71 $462.89 $0.00 $473.72 $84,719.32
127 $84,719.32 $462.89 $0.00 $479.02 $85,661.23
128 $85,661.23 $462.89 $0.00 $484.34 $86,608.46
129 $86,608.46 $462.89 $0.00 $489.70 $87,561.05
130 $87,561.05 $462.89 $0.00 $495.08 $88,519.02
131 $88,519.02 $462.89 $0.00 $500.50 $89,482.41
132 $89,482.41 $462.89 $0.00 $505.95 $90,451.25
133 $90,451.25 $462.89 $0.00 $511.42 $91,425.56
134 $91,425.56 $462.89 $0.00 $516.93 $92,405.38
135 $92,405.38 $462.89 $0.00 $522.47 $93,390.74
136 $93,390.74 $462.89 $0.00 $528.04 $94,381.67
137 $94,381.67 $462.89 $0.00 $533.65 $95,378.21
138 $95,378.21 $462.89 $0.00 $539.28 $96,380.38
139 $96,380.38 $462.89 $0.00 $544.95 $97,388.22
140 $97,388.22 $462.89 $0.00 $550.65 $98,401.76
141 $98,401.76 $462.89 $0.00 $556.38 $99,421.03
142 $99,421.03 $462.89 $0.00 $562.14 $100,446.06
143 $100,446.06 $462.89 $0.00 $567.94 $101,476.89
144 $101,476.89 $462.89 $0.00 $573.77 $102,513.55
145 $102,513.55 $462.89 $0.00 $579.63 $103,556.07
146 $103,556.07 $462.89 $0.00 $585.52 $104,604.48
147 $104,604.48 $462.89 $0.00 $591.45 $105,658.82
148 $105,658.82 $462.89 $0.00 $597.41 $106,719.12
149 $106,719.12 $462.89 $0.00 $603.41 $107,785.42
150 $107,785.42 $462.89 $0.00 $609.43 $108,857.74
151 $108,857.74 $462.89 $0.00 $615.50 $109,936.13
152 $109,936.13 $462.89 $0.00 $621.59 $111,020.61
153 $111,020.61 $462.89 $0.00 $627.73 $112,111.23
154 $112,111.23 $462.89 $0.00 $633.89 $113,208.01
155 $113,208.01 $462.89 $0.00 $640.09 $114,310.99
156 $114,310.99 $462.89 $0.00 $646.33 $115,420.21
157 $115,420.21 $462.89 $0.00 $652.60 $116,535.70
158 $116,535.70 $462.89 $0.00 $658.91 $117,657.50
159 $117,657.50 $462.89 $0.00 $665.25 $118,785.64
160 $118,785.64 $462.89 $0.00 $671.63 $119,920.16
161 $119,920.16 $462.89 $0.00 $678.05 $121,061.10
162 $121,061.10 $462.89 $0.00 $684.50 $122,208.49
163 $122,208.49 $462.89 $0.00 $690.98 $123,362.36
164 $123,362.36 $462.89 $0.00 $697.51 $124,522.76
165 $124,522.76 $462.89 $0.00 $704.07 $125,689.72
166 $125,689.72 $462.89 $0.00 $710.67 $126,863.28
167 $126,863.28 $462.89 $0.00 $717.30 $128,043.47
168 $128,043.47 $462.89 $0.00 $723.98 $129,230.34
169 $129,230.34 $462.89 $0.00 $730.69 $130,423.92
170 $130,423.92 $462.89 $0.00 $737.44 $131,624.25
171 $131,624.25 $462.89 $0.00 $744.22 $132,831.36
172 $132,831.36 $462.89 $0.00 $751.05 $134,045.30
173 $134,045.30 $462.89 $0.00 $757.91 $135,266.10
174 $135,266.10 $462.89 $0.00 $764.81 $136,493.80
175 $136,493.80 $462.89 $0.00 $771.76 $137,728.45
176 $137,728.45 $462.89 $0.00 $778.74 $138,970.08
177 $138,970.08 $462.89 $0.00 $785.76 $140,218.73
178 $140,218.73 $462.89 $0.00 $792.82 $141,474.44
179 $141,474.44 $462.89 $0.00 $799.92 $142,737.25
180 $142,737.25 $462.89 $0.00 $807.06 $144,007.20
181 $144,007.20 $462.89 $0.00 $814.24 $145,284.33
182 $145,284.33 $462.89 $0.00 $821.46 $146,568.68
183 $146,568.68 $462.89 $0.00 $828.72 $147,860.29
184 $147,860.29 $462.89 $0.00 $836.02 $149,159.20
185 $149,159.20 $462.89 $0.00 $843.37 $150,465.46
186 $150,465.46 $462.89 $0.00 $850.75 $151,779.10
187 $151,779.10 $462.89 $0.00 $858.18 $153,100.17
188 $153,100.17 $462.89 $0.00 $865.65 $154,428.71
189 $154,428.71 $462.89 $0.00 $873.16 $155,764.76
190 $155,764.76 $462.89 $0.00 $880.72 $157,108.37
191 $157,108.37 $462.89 $0.00 $888.31 $158,459.57
192 $158,459.57 $462.89 $0.00 $895.95 $159,818.41
193 $159,818.41 $462.89 $0.00 $903.64 $161,184.94
194 $161,184.94 $462.89 $0.00 $911.36 $162,559.19
195 $162,559.19 $462.89 $0.00 $919.13 $163,941.21
196 $163,941.21 $462.89 $0.00 $926.95 $165,331.05
197 $165,331.05 $462.89 $0.00 $934.81 $166,728.75
198 $166,728.75 $462.89 $0.00 $942.71 $168,134.35
199 $168,134.35 $462.89 $0.00 $950.66 $169,547.90
200 $169,547.90 $462.89 $0.00 $958.65 $170,969.44
201 $170,969.44 $462.89 $0.00 $966.69 $172,399.02
202 $172,399.02 $462.89 $0.00 $974.77 $173,836.68
203 $173,836.68 $462.89 $0.00 $982.90 $175,282.47
204 $175,282.47 $462.89 $0.00 $991.07 $176,736.43
205 $176,736.43 $462.89 $0.00 $999.29 $178,198.61
206 $178,198.61 $462.89 $0.00 $1,007.56 $179,669.06
207 $179,669.06 $462.89 $0.00 $1,015.87 $181,147.82
208 $181,147.82 $462.89 $0.00 $1,024.24 $182,634.95
209 $182,634.95 $462.89 $0.00 $1,032.64 $184,130.48
210 $184,130.48 $462.89 $0.00 $1,041.10 $185,634.47
211 $185,634.47 $462.89 $0.00 $1,049.60 $187,146.96
212 $187,146.96 $462.89 $0.00 $1,058.16 $188,668.01
213 $188,668.01 $462.89 $0.00 $1,066.76 $190,197.66
214 $190,197.66 $462.89 $0.00 $1,075.41 $191,735.96
215 $191,735.96 $462.89 $0.00 $1,084.10 $193,282.95
216 $193,282.95 $462.89 $0.00 $1,092.85 $194,838.69
217 $194,838.69 $462.89 $54,269.26 $1,101.65 $142,133.97
218 $142,133.97 $462.89 $0.00 $803.65 $143,400.51
219 $143,400.51 $462.89 $0.00 $810.81 $144,674.21
220 $144,674.21 $462.89 $0.00 $818.01 $145,955.11
221 $145,955.11 $462.89 $0.00 $825.25 $147,243.25
222 $147,243.25 $462.89 $0.00 $832.53 $148,538.67
223 $148,538.67 $462.89 $0.00 $839.86 $149,841.42
224 $149,841.42 $462.89 $0.00 $847.23 $151,151.54
225 $151,151.54 $462.89 $0.00 $854.63 $152,469.06
226 $152,469.06 $462.89 $0.00 $862.08 $153,794.03
227 $153,794.03 $462.89 $0.00 $869.57 $155,126.49
228 $155,126.49 $462.89 $0.00 $877.11 $156,466.49
229 $156,466.49 $462.89 $56,982.73 $884.68 $100,831.33
230 $100,831.33 $462.89 $0.00 $570.11 $101,864.33
231 $101,864.33 $462.89 $0.00 $575.96 $102,903.18
232 $102,903.18 $462.89 $0.00 $581.83 $103,947.90
233 $103,947.90 $462.89 $0.00 $587.74 $104,998.53
234 $104,998.53 $462.89 $0.00 $593.68 $106,055.10
235 $106,055.10 $462.89 $0.00 $599.65 $107,117.64
236 $107,117.64 $462.89 $0.00 $605.66 $108,186.19
237 $108,186.19 $462.89 $0.00 $611.70 $109,260.78
238 $109,260.78 $462.89 $0.00 $617.78 $110,341.45
239 $110,341.45 $462.89 $0.00 $623.89 $111,428.23
240 $111,428.23 $462.89 $0.00 $630.03 $112,521.15
241 $112,521.15 $462.89 $59,831.86 $636.21 $53,788.39
242 $53,788.39 $462.89 $0.00 $304.13 $54,555.41
243 $54,555.41 $462.89 $0.00 $308.46 $55,326.76
244 $55,326.76 $462.89 $0.00 $312.83 $56,102.48
245 $56,102.48 $462.89 $0.00 $317.21 $56,882.58
246 $56,882.58 $462.89 $0.00 $321.62 $57,667.09
247 $57,667.09 $462.89 $0.00 $326.06 $58,456.04
248 $58,456.04 $462.89 $0.00 $330.52 $59,249.45
249 $59,249.45 $462.89 $0.00 $335.01 $60,047.35
250 $60,047.35 $462.89 $0.00 $339.52 $60,849.76
251 $60,849.76 $462.89 $0.00 $344.05 $61,656.70
252 $61,656.70 $462.89 $0.00 $348.62 $62,468.21
253 $62,468.21 $0.00 $62,823.46 $353.20 ($2.05)