Savings Plan and Future Cost Estimation for Taylor University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$195,215
Monthly savings required$1,543

How much will it cost to send your child to Taylor University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $780,858.97 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,542.83 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$52,034.00
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 $1,542.83 $0.00 $0.00 $1,542.83
2 $1,542.83 $1,542.83 $0.00 $8.72 $3,094.38
3 $3,094.38 $1,542.83 $0.00 $17.50 $4,654.71
4 $4,654.71 $1,542.83 $0.00 $26.32 $6,223.86
5 $6,223.86 $1,542.83 $0.00 $35.19 $7,801.88
6 $7,801.88 $1,542.83 $0.00 $44.11 $9,388.82
7 $9,388.82 $1,542.83 $0.00 $53.09 $10,984.74
8 $10,984.74 $1,542.83 $0.00 $62.11 $12,589.68
9 $12,589.68 $1,542.83 $0.00 $71.18 $14,203.69
10 $14,203.69 $1,542.83 $0.00 $80.31 $15,826.83
11 $15,826.83 $1,542.83 $0.00 $89.49 $17,459.15
12 $17,459.15 $1,542.83 $0.00 $98.72 $19,100.70
13 $19,100.70 $1,542.83 $0.00 $108.00 $20,751.53
14 $20,751.53 $1,542.83 $0.00 $117.33 $22,411.69
15 $22,411.69 $1,542.83 $0.00 $126.72 $24,081.24
16 $24,081.24 $1,542.83 $0.00 $136.16 $25,760.23
17 $25,760.23 $1,542.83 $0.00 $145.65 $27,448.71
18 $27,448.71 $1,542.83 $0.00 $155.20 $29,146.74
19 $29,146.74 $1,542.83 $0.00 $164.80 $30,854.37
20 $30,854.37 $1,542.83 $0.00 $174.46 $32,571.66
21 $32,571.66 $1,542.83 $0.00 $184.16 $34,298.65
22 $34,298.65 $1,542.83 $0.00 $193.93 $36,035.41
23 $36,035.41 $1,542.83 $0.00 $203.75 $37,781.99
24 $37,781.99 $1,542.83 $0.00 $213.62 $39,538.44
25 $39,538.44 $1,542.83 $0.00 $223.56 $41,304.83
26 $41,304.83 $1,542.83 $0.00 $233.54 $43,081.20
27 $43,081.20 $1,542.83 $0.00 $243.59 $44,867.62
28 $44,867.62 $1,542.83 $0.00 $253.69 $46,664.14
29 $46,664.14 $1,542.83 $0.00 $263.85 $48,470.82
30 $48,470.82 $1,542.83 $0.00 $274.06 $50,287.71
31 $50,287.71 $1,542.83 $0.00 $284.33 $52,114.87
32 $52,114.87 $1,542.83 $0.00 $294.67 $53,952.37
33 $53,952.37 $1,542.83 $0.00 $305.05 $55,800.25
34 $55,800.25 $1,542.83 $0.00 $315.50 $57,658.58
35 $57,658.58 $1,542.83 $0.00 $326.01 $59,527.42
36 $59,527.42 $1,542.83 $0.00 $336.58 $61,406.83
37 $61,406.83 $1,542.83 $0.00 $347.20 $63,296.86
38 $63,296.86 $1,542.83 $0.00 $357.89 $65,197.58
39 $65,197.58 $1,542.83 $0.00 $368.64 $67,109.05
40 $67,109.05 $1,542.83 $0.00 $379.44 $69,031.32
41 $69,031.32 $1,542.83 $0.00 $390.31 $70,964.46
42 $70,964.46 $1,542.83 $0.00 $401.24 $72,908.53
43 $72,908.53 $1,542.83 $0.00 $412.24 $74,863.60
44 $74,863.60 $1,542.83 $0.00 $423.29 $76,829.72
45 $76,829.72 $1,542.83 $0.00 $434.41 $78,806.96
46 $78,806.96 $1,542.83 $0.00 $445.59 $80,795.38
47 $80,795.38 $1,542.83 $0.00 $456.83 $82,795.04
48 $82,795.04 $1,542.83 $0.00 $468.14 $84,806.01
49 $84,806.01 $1,542.83 $0.00 $479.51 $86,828.35
50 $86,828.35 $1,542.83 $0.00 $490.94 $88,862.12
51 $88,862.12 $1,542.83 $0.00 $502.44 $90,907.39
52 $90,907.39 $1,542.83 $0.00 $514.00 $92,964.22
53 $92,964.22 $1,542.83 $0.00 $525.63 $95,032.68
54 $95,032.68 $1,542.83 $0.00 $537.33 $97,112.84
55 $97,112.84 $1,542.83 $0.00 $549.09 $99,204.76
56 $99,204.76 $1,542.83 $0.00 $560.92 $101,308.51
57 $101,308.51 $1,542.83 $0.00 $572.81 $103,424.15
58 $103,424.15 $1,542.83 $0.00 $584.78 $105,551.76
59 $105,551.76 $1,542.83 $0.00 $596.80 $107,691.39
60 $107,691.39 $1,542.83 $0.00 $608.90 $109,843.12
61 $109,843.12 $1,542.83 $0.00 $621.07 $112,007.02
62 $112,007.02 $1,542.83 $0.00 $633.30 $114,183.15
63 $114,183.15 $1,542.83 $0.00 $645.61 $116,371.59
64 $116,371.59 $1,542.83 $0.00 $657.98 $118,572.40
65 $118,572.40 $1,542.83 $0.00 $670.43 $120,785.66
66 $120,785.66 $1,542.83 $0.00 $682.94 $123,011.43
67 $123,011.43 $1,542.83 $0.00 $695.52 $125,249.78
68 $125,249.78 $1,542.83 $0.00 $708.18 $127,500.79
69 $127,500.79 $1,542.83 $0.00 $720.91 $129,764.53
70 $129,764.53 $1,542.83 $0.00 $733.71 $132,041.07
71 $132,041.07 $1,542.83 $0.00 $746.58 $134,330.48
72 $134,330.48 $1,542.83 $0.00 $759.52 $136,632.83
73 $136,632.83 $1,542.83 $0.00 $772.54 $138,948.20
74 $138,948.20 $1,542.83 $0.00 $785.63 $141,276.66
75 $141,276.66 $1,542.83 $0.00 $798.80 $143,618.29
76 $143,618.29 $1,542.83 $0.00 $812.04 $145,973.16
77 $145,973.16 $1,542.83 $0.00 $825.35 $148,341.34
78 $148,341.34 $1,542.83 $0.00 $838.74 $150,722.91
79 $150,722.91 $1,542.83 $0.00 $852.21 $153,117.95
80 $153,117.95 $1,542.83 $0.00 $865.75 $155,526.53
81 $155,526.53 $1,542.83 $0.00 $879.37 $157,948.73
82 $157,948.73 $1,542.83 $0.00 $893.07 $160,384.63
83 $160,384.63 $1,542.83 $0.00 $906.84 $162,834.30
84 $162,834.30 $1,542.83 $0.00 $920.69 $165,297.82
85 $165,297.82 $1,542.83 $0.00 $934.62 $167,775.27
86 $167,775.27 $1,542.83 $0.00 $948.63 $170,266.73
87 $170,266.73 $1,542.83 $0.00 $962.71 $172,772.27
88 $172,772.27 $1,542.83 $0.00 $976.88 $175,291.98
89 $175,291.98 $1,542.83 $0.00 $991.13 $177,825.94
90 $177,825.94 $1,542.83 $0.00 $1,005.45 $180,374.22
91 $180,374.22 $1,542.83 $0.00 $1,019.86 $182,936.91
92 $182,936.91 $1,542.83 $0.00 $1,034.35 $185,514.09
93 $185,514.09 $1,542.83 $0.00 $1,048.92 $188,105.84
94 $188,105.84 $1,542.83 $0.00 $1,063.58 $190,712.25
95 $190,712.25 $1,542.83 $0.00 $1,078.31 $193,333.39
96 $193,333.39 $1,542.83 $0.00 $1,093.14 $195,969.36
97 $195,969.36 $1,542.83 $0.00 $1,108.04 $198,620.23
98 $198,620.23 $1,542.83 $0.00 $1,123.03 $201,286.09
99 $201,286.09 $1,542.83 $0.00 $1,138.10 $203,967.02
100 $203,967.02 $1,542.83 $0.00 $1,153.26 $206,663.11
101 $206,663.11 $1,542.83 $0.00 $1,168.50 $209,374.44
102 $209,374.44 $1,542.83 $0.00 $1,183.83 $212,101.10
103 $212,101.10 $1,542.83 $0.00 $1,199.25 $214,843.18
104 $214,843.18 $1,542.83 $0.00 $1,214.75 $217,600.76
105 $217,600.76 $1,542.83 $0.00 $1,230.35 $220,373.94
106 $220,373.94 $1,542.83 $0.00 $1,246.03 $223,162.80
107 $223,162.80 $1,542.83 $0.00 $1,261.79 $225,967.42
108 $225,967.42 $1,542.83 $0.00 $1,277.65 $228,787.90
109 $228,787.90 $1,542.83 $0.00 $1,293.60 $231,624.33
110 $231,624.33 $1,542.83 $0.00 $1,309.64 $234,476.80
111 $234,476.80 $1,542.83 $0.00 $1,325.77 $237,345.40
112 $237,345.40 $1,542.83 $0.00 $1,341.99 $240,230.22
113 $240,230.22 $1,542.83 $0.00 $1,358.30 $243,131.35
114 $243,131.35 $1,542.83 $0.00 $1,374.70 $246,048.88
115 $246,048.88 $1,542.83 $0.00 $1,391.20 $248,982.91
116 $248,982.91 $1,542.83 $0.00 $1,407.79 $251,933.53
117 $251,933.53 $1,542.83 $0.00 $1,424.47 $254,900.83
118 $254,900.83 $1,542.83 $0.00 $1,441.25 $257,884.91
119 $257,884.91 $1,542.83 $0.00 $1,458.12 $260,885.86
120 $260,885.86 $1,542.83 $0.00 $1,475.09 $263,903.78
121 $263,903.78 $1,542.83 $0.00 $1,492.15 $266,938.76
122 $266,938.76 $1,542.83 $0.00 $1,509.31 $269,990.90
123 $269,990.90 $1,542.83 $0.00 $1,526.57 $273,060.30
124 $273,060.30 $1,542.83 $0.00 $1,543.92 $276,147.05
125 $276,147.05 $1,542.83 $0.00 $1,561.38 $279,251.26
126 $279,251.26 $1,542.83 $0.00 $1,578.93 $282,373.02
127 $282,373.02 $1,542.83 $0.00 $1,596.58 $285,512.43
128 $285,512.43 $1,542.83 $0.00 $1,614.33 $288,669.59
129 $288,669.59 $1,542.83 $0.00 $1,632.18 $291,844.60
130 $291,844.60 $1,542.83 $0.00 $1,650.13 $295,037.56
131 $295,037.56 $1,542.83 $0.00 $1,668.19 $298,248.58
132 $298,248.58 $1,542.83 $0.00 $1,686.34 $301,477.75
133 $301,477.75 $1,542.83 $0.00 $1,704.60 $304,725.18
134 $304,725.18 $1,542.83 $0.00 $1,722.96 $307,990.97
135 $307,990.97 $1,542.83 $0.00 $1,741.43 $311,275.23
136 $311,275.23 $1,542.83 $0.00 $1,760.00 $314,578.06
137 $314,578.06 $1,542.83 $0.00 $1,778.67 $317,899.56
138 $317,899.56 $1,542.83 $0.00 $1,797.45 $321,239.84
139 $321,239.84 $1,542.83 $0.00 $1,816.34 $324,599.01
140 $324,599.01 $1,542.83 $0.00 $1,835.33 $327,977.17
141 $327,977.17 $1,542.83 $0.00 $1,854.43 $331,374.43
142 $331,374.43 $1,542.83 $0.00 $1,873.64 $334,790.90
143 $334,790.90 $1,542.83 $0.00 $1,892.96 $338,226.69
144 $338,226.69 $1,542.83 $0.00 $1,912.38 $341,681.90
145 $341,681.90 $1,542.83 $0.00 $1,931.92 $345,156.65
146 $345,156.65 $1,542.83 $0.00 $1,951.57 $348,651.05
147 $348,651.05 $1,542.83 $0.00 $1,971.32 $352,165.20
148 $352,165.20 $1,542.83 $0.00 $1,991.19 $355,699.22
149 $355,699.22 $1,542.83 $0.00 $2,011.18 $359,253.23
150 $359,253.23 $1,542.83 $0.00 $2,031.27 $362,827.33
151 $362,827.33 $1,542.83 $0.00 $2,051.48 $366,421.64
152 $366,421.64 $1,542.83 $0.00 $2,071.80 $370,036.27
153 $370,036.27 $1,542.83 $0.00 $2,092.24 $373,671.34
154 $373,671.34 $1,542.83 $0.00 $2,112.79 $377,326.96
155 $377,326.96 $1,542.83 $0.00 $2,133.46 $381,003.25
156 $381,003.25 $1,542.83 $0.00 $2,154.25 $384,700.33
157 $384,700.33 $1,542.83 $0.00 $2,175.15 $388,418.31
158 $388,418.31 $1,542.83 $0.00 $2,196.17 $392,157.31
159 $392,157.31 $1,542.83 $0.00 $2,217.31 $395,917.45
160 $395,917.45 $1,542.83 $0.00 $2,238.57 $399,698.85
161 $399,698.85 $1,542.83 $0.00 $2,259.96 $403,501.64
162 $403,501.64 $1,542.83 $0.00 $2,281.46 $407,325.93
163 $407,325.93 $1,542.83 $0.00 $2,303.08 $411,171.84
164 $411,171.84 $1,542.83 $0.00 $2,324.83 $415,039.50
165 $415,039.50 $1,542.83 $0.00 $2,346.69 $418,929.02
166 $418,929.02 $1,542.83 $0.00 $2,368.69 $422,840.54
167 $422,840.54 $1,542.83 $0.00 $2,390.80 $426,774.17
168 $426,774.17 $1,542.83 $0.00 $2,413.04 $430,730.04
169 $430,730.04 $1,542.83 $0.00 $2,435.41 $434,708.28
170 $434,708.28 $1,542.83 $0.00 $2,457.90 $438,709.01
171 $438,709.01 $1,542.83 $0.00 $2,480.52 $442,732.36
172 $442,732.36 $1,542.83 $0.00 $2,503.27 $446,778.46
173 $446,778.46 $1,542.83 $0.00 $2,526.15 $450,847.44
174 $450,847.44 $1,542.83 $0.00 $2,549.16 $454,939.43
175 $454,939.43 $1,542.83 $0.00 $2,572.29 $459,054.55
176 $459,054.55 $1,542.83 $0.00 $2,595.56 $463,192.94
177 $463,192.94 $1,542.83 $0.00 $2,618.96 $467,354.73
178 $467,354.73 $1,542.83 $0.00 $2,642.49 $471,540.05
179 $471,540.05 $1,542.83 $0.00 $2,666.16 $475,749.04
180 $475,749.04 $1,542.83 $0.00 $2,689.95 $479,981.82
181 $479,981.82 $1,542.83 $0.00 $2,713.89 $484,238.54
182 $484,238.54 $1,542.83 $0.00 $2,737.96 $488,519.33
183 $488,519.33 $1,542.83 $0.00 $2,762.16 $492,824.32
184 $492,824.32 $1,542.83 $0.00 $2,786.50 $497,153.65
185 $497,153.65 $1,542.83 $0.00 $2,810.98 $501,507.46
186 $501,507.46 $1,542.83 $0.00 $2,835.60 $505,885.89
187 $505,885.89 $1,542.83 $0.00 $2,860.35 $510,289.07
188 $510,289.07 $1,542.83 $0.00 $2,885.25 $514,717.15
189 $514,717.15 $1,542.83 $0.00 $2,910.29 $519,170.27
190 $519,170.27 $1,542.83 $0.00 $2,935.46 $523,648.56
191 $523,648.56 $1,542.83 $0.00 $2,960.79 $528,152.18
192 $528,152.18 $1,542.83 $0.00 $2,986.25 $532,681.26
193 $532,681.26 $1,542.83 $0.00 $3,011.86 $537,235.95
194 $537,235.95 $1,542.83 $0.00 $3,037.61 $541,816.39
195 $541,816.39 $1,542.83 $0.00 $3,063.51 $546,422.73
196 $546,422.73 $1,542.83 $0.00 $3,089.55 $551,055.11
197 $551,055.11 $1,542.83 $0.00 $3,115.75 $555,713.69
198 $555,713.69 $1,542.83 $0.00 $3,142.09 $560,398.61
199 $560,398.61 $1,542.83 $0.00 $3,168.58 $565,110.02
200 $565,110.02 $1,542.83 $0.00 $3,195.21 $569,848.06
201 $569,848.06 $1,542.83 $0.00 $3,222.00 $574,612.89
202 $574,612.89 $1,542.83 $0.00 $3,248.94 $579,404.66
203 $579,404.66 $1,542.83 $0.00 $3,276.04 $584,223.53
204 $584,223.53 $1,542.83 $0.00 $3,303.28 $589,069.64
205 $589,069.64 $1,542.83 $0.00 $3,330.69 $593,943.16
206 $593,943.16 $1,542.83 $0.00 $3,358.24 $598,844.23
207 $598,844.23 $1,542.83 $0.00 $3,385.95 $603,773.01
208 $603,773.01 $1,542.83 $0.00 $3,413.82 $608,729.66
209 $608,729.66 $1,542.83 $0.00 $3,441.85 $613,714.34
210 $613,714.34 $1,542.83 $0.00 $3,470.03 $618,727.20
211 $618,727.20 $1,542.83 $0.00 $3,498.37 $623,768.40
212 $623,768.40 $1,542.83 $0.00 $3,526.88 $628,838.11
213 $628,838.11 $1,542.83 $0.00 $3,555.54 $633,936.48
214 $633,936.48 $1,542.83 $0.00 $3,584.37 $639,063.68
215 $639,063.68 $1,542.83 $0.00 $3,613.36 $644,219.87
216 $644,219.87 $1,542.83 $0.00 $3,642.51 $649,405.21
217 $649,405.21 $1,542.83 $175,871.40 $3,671.83 $478,748.47
218 $478,748.47 $1,542.83 $0.00 $2,706.91 $482,998.21
219 $482,998.21 $1,542.83 $0.00 $2,730.94 $487,271.98
220 $487,271.98 $1,542.83 $0.00 $2,755.11 $491,569.92
221 $491,569.92 $1,542.83 $0.00 $2,779.41 $495,892.16
222 $495,892.16 $1,542.83 $0.00 $2,803.85 $500,238.84
223 $500,238.84 $1,542.83 $0.00 $2,828.42 $504,610.09
224 $504,610.09 $1,542.83 $0.00 $2,853.14 $509,006.06
225 $509,006.06 $1,542.83 $0.00 $2,877.99 $513,426.88
226 $513,426.88 $1,542.83 $0.00 $2,902.99 $517,872.70
227 $517,872.70 $1,542.83 $0.00 $2,928.13 $522,343.66
228 $522,343.66 $1,542.83 $0.00 $2,953.41 $526,839.90
229 $526,839.90 $1,542.83 $188,182.39 $2,978.83 $343,179.17
230 $343,179.17 $1,542.83 $0.00 $1,940.38 $346,662.38
231 $346,662.38 $1,542.83 $0.00 $1,960.08 $350,165.29
232 $350,165.29 $1,542.83 $0.00 $1,979.89 $353,688.01
233 $353,688.01 $1,542.83 $0.00 $1,999.80 $357,230.64
234 $357,230.64 $1,542.83 $0.00 $2,019.83 $360,793.30
235 $360,793.30 $1,542.83 $0.00 $2,039.98 $364,376.11
236 $364,376.11 $1,542.83 $0.00 $2,060.24 $367,979.18
237 $367,979.18 $1,542.83 $0.00 $2,080.61 $371,602.62
238 $371,602.62 $1,542.83 $0.00 $2,101.10 $375,246.55
239 $375,246.55 $1,542.83 $0.00 $2,121.70 $378,911.08
240 $378,911.08 $1,542.83 $0.00 $2,142.42 $382,596.33
241 $382,596.33 $1,542.83 $201,355.16 $2,163.26 $184,947.26
242 $184,947.26 $1,542.83 $0.00 $1,045.72 $187,535.81
243 $187,535.81 $1,542.83 $0.00 $1,060.35 $190,138.99
244 $190,138.99 $1,542.83 $0.00 $1,075.07 $192,756.89
245 $192,756.89 $1,542.83 $0.00 $1,089.88 $195,389.60
246 $195,389.60 $1,542.83 $0.00 $1,104.76 $198,037.19
247 $198,037.19 $1,542.83 $0.00 $1,119.73 $200,699.75
248 $200,699.75 $1,542.83 $0.00 $1,134.79 $203,377.37
249 $203,377.37 $1,542.83 $0.00 $1,149.93 $206,070.13
250 $206,070.13 $1,542.83 $0.00 $1,165.15 $208,778.11
251 $208,778.11 $1,542.83 $0.00 $1,180.46 $211,501.40
252 $211,501.40 $1,542.83 $0.00 $1,195.86 $214,240.09
253 $214,240.09 $0.00 $215,450.02 $1,211.34 $1.41