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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$68,004
Monthly savings required$538

How much will it cost to send your child to Salem State University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $272,017.09 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $538.30 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$26,224.00
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 $538.30 $0.00 $0.00 $538.30
2 $538.30 $538.30 $0.00 $3.04 $1,079.64
3 $1,079.64 $538.30 $0.00 $6.10 $1,624.04
4 $1,624.04 $538.30 $0.00 $9.18 $2,171.52
5 $2,171.52 $538.30 $0.00 $12.28 $2,722.10
6 $2,722.10 $538.30 $0.00 $15.39 $3,275.79
7 $3,275.79 $538.30 $0.00 $18.52 $3,832.61
8 $3,832.61 $538.30 $0.00 $21.67 $4,392.58
9 $4,392.58 $538.30 $0.00 $24.84 $4,955.72
10 $4,955.72 $538.30 $0.00 $28.02 $5,522.04
11 $5,522.04 $538.30 $0.00 $31.22 $6,091.56
12 $6,091.56 $538.30 $0.00 $34.44 $6,664.30
13 $6,664.30 $538.30 $0.00 $37.68 $7,240.28
14 $7,240.28 $538.30 $0.00 $40.94 $7,819.52
15 $7,819.52 $538.30 $0.00 $44.21 $8,402.03
16 $8,402.03 $538.30 $0.00 $47.51 $8,987.84
17 $8,987.84 $538.30 $0.00 $50.82 $9,576.96
18 $9,576.96 $538.30 $0.00 $54.15 $10,169.41
19 $10,169.41 $538.30 $0.00 $57.50 $10,765.21
20 $10,765.21 $538.30 $0.00 $60.87 $11,364.38
21 $11,364.38 $538.30 $0.00 $64.26 $11,966.94
22 $11,966.94 $538.30 $0.00 $67.66 $12,572.90
23 $12,572.90 $538.30 $0.00 $71.09 $13,182.29
24 $13,182.29 $538.30 $0.00 $74.53 $13,795.12
25 $13,795.12 $538.30 $0.00 $78.00 $14,411.42
26 $14,411.42 $538.30 $0.00 $81.48 $15,031.20
27 $15,031.20 $538.30 $0.00 $84.99 $15,654.49
28 $15,654.49 $538.30 $0.00 $88.51 $16,281.30
29 $16,281.30 $538.30 $0.00 $92.06 $16,911.66
30 $16,911.66 $538.30 $0.00 $95.62 $17,545.58
31 $17,545.58 $538.30 $0.00 $99.21 $18,183.09
32 $18,183.09 $538.30 $0.00 $102.81 $18,824.20
33 $18,824.20 $538.30 $0.00 $106.43 $19,468.93
34 $19,468.93 $538.30 $0.00 $110.08 $20,117.31
35 $20,117.31 $538.30 $0.00 $113.75 $20,769.36
36 $20,769.36 $538.30 $0.00 $117.43 $21,425.09
37 $21,425.09 $538.30 $0.00 $121.14 $22,084.53
38 $22,084.53 $538.30 $0.00 $124.87 $22,747.70
39 $22,747.70 $538.30 $0.00 $128.62 $23,414.62
40 $23,414.62 $538.30 $0.00 $132.39 $24,085.31
41 $24,085.31 $538.30 $0.00 $136.18 $24,759.79
42 $24,759.79 $538.30 $0.00 $140.00 $25,438.09
43 $25,438.09 $538.30 $0.00 $143.83 $26,120.22
44 $26,120.22 $538.30 $0.00 $147.69 $26,806.21
45 $26,806.21 $538.30 $0.00 $151.57 $27,496.08
46 $27,496.08 $538.30 $0.00 $155.47 $28,189.85
47 $28,189.85 $538.30 $0.00 $159.39 $28,887.54
48 $28,887.54 $538.30 $0.00 $163.33 $29,589.17
49 $29,589.17 $538.30 $0.00 $167.30 $30,294.77
50 $30,294.77 $538.30 $0.00 $171.29 $31,004.36
51 $31,004.36 $538.30 $0.00 $175.30 $31,717.96
52 $31,717.96 $538.30 $0.00 $179.34 $32,435.60
53 $32,435.60 $538.30 $0.00 $183.40 $33,157.30
54 $33,157.30 $538.30 $0.00 $187.48 $33,883.08
55 $33,883.08 $538.30 $0.00 $191.58 $34,612.96
56 $34,612.96 $538.30 $0.00 $195.71 $35,346.97
57 $35,346.97 $538.30 $0.00 $199.86 $36,085.13
58 $36,085.13 $538.30 $0.00 $204.03 $36,827.46
59 $36,827.46 $538.30 $0.00 $208.23 $37,573.99
60 $37,573.99 $538.30 $0.00 $212.45 $38,324.74
61 $38,324.74 $538.30 $0.00 $216.69 $39,079.73
62 $39,079.73 $538.30 $0.00 $220.96 $39,838.99
63 $39,838.99 $538.30 $0.00 $225.26 $40,602.55
64 $40,602.55 $538.30 $0.00 $229.57 $41,370.42
65 $41,370.42 $538.30 $0.00 $233.91 $42,142.63
66 $42,142.63 $538.30 $0.00 $238.28 $42,919.21
67 $42,919.21 $538.30 $0.00 $242.67 $43,700.18
68 $43,700.18 $538.30 $0.00 $247.09 $44,485.57
69 $44,485.57 $538.30 $0.00 $251.53 $45,275.40
70 $45,275.40 $538.30 $0.00 $255.99 $46,069.69
71 $46,069.69 $538.30 $0.00 $260.48 $46,868.47
72 $46,868.47 $538.30 $0.00 $265.00 $47,671.77
73 $47,671.77 $538.30 $0.00 $269.54 $48,479.61
74 $48,479.61 $538.30 $0.00 $274.11 $49,292.02
75 $49,292.02 $538.30 $0.00 $278.70 $50,109.02
76 $50,109.02 $538.30 $0.00 $283.32 $50,930.64
77 $50,930.64 $538.30 $0.00 $287.97 $51,756.91
78 $51,756.91 $538.30 $0.00 $292.64 $52,587.85
79 $52,587.85 $538.30 $0.00 $297.34 $53,423.49
80 $53,423.49 $538.30 $0.00 $302.06 $54,263.85
81 $54,263.85 $538.30 $0.00 $306.82 $55,108.97
82 $55,108.97 $538.30 $0.00 $311.59 $55,958.86
83 $55,958.86 $538.30 $0.00 $316.40 $56,813.56
84 $56,813.56 $538.30 $0.00 $321.23 $57,673.09
85 $57,673.09 $538.30 $0.00 $326.09 $58,537.48
86 $58,537.48 $538.30 $0.00 $330.98 $59,406.76
87 $59,406.76 $538.30 $0.00 $335.89 $60,280.95
88 $60,280.95 $538.30 $0.00 $340.84 $61,160.09
89 $61,160.09 $538.30 $0.00 $345.81 $62,044.20
90 $62,044.20 $538.30 $0.00 $350.81 $62,933.31
91 $62,933.31 $538.30 $0.00 $355.83 $63,827.44
92 $63,827.44 $538.30 $0.00 $360.89 $64,726.63
93 $64,726.63 $538.30 $0.00 $365.97 $65,630.90
94 $65,630.90 $538.30 $0.00 $371.09 $66,540.29
95 $66,540.29 $538.30 $0.00 $376.23 $67,454.82
96 $67,454.82 $538.30 $0.00 $381.40 $68,374.52
97 $68,374.52 $538.30 $0.00 $386.60 $69,299.42
98 $69,299.42 $538.30 $0.00 $391.83 $70,229.55
99 $70,229.55 $538.30 $0.00 $397.09 $71,164.94
100 $71,164.94 $538.30 $0.00 $402.38 $72,105.62
101 $72,105.62 $538.30 $0.00 $407.70 $73,051.62
102 $73,051.62 $538.30 $0.00 $413.04 $74,002.96
103 $74,002.96 $538.30 $0.00 $418.42 $74,959.68
104 $74,959.68 $538.30 $0.00 $423.83 $75,921.81
105 $75,921.81 $538.30 $0.00 $429.27 $76,889.38
106 $76,889.38 $538.30 $0.00 $434.74 $77,862.42
107 $77,862.42 $538.30 $0.00 $440.25 $78,840.97
108 $78,840.97 $538.30 $0.00 $445.78 $79,825.05
109 $79,825.05 $538.30 $0.00 $451.34 $80,814.69
110 $80,814.69 $538.30 $0.00 $456.94 $81,809.93
111 $81,809.93 $538.30 $0.00 $462.57 $82,810.80
112 $82,810.80 $538.30 $0.00 $468.22 $83,817.32
113 $83,817.32 $538.30 $0.00 $473.92 $84,829.54
114 $84,829.54 $538.30 $0.00 $479.64 $85,847.48
115 $85,847.48 $538.30 $0.00 $485.39 $86,871.17
116 $86,871.17 $538.30 $0.00 $491.18 $87,900.65
117 $87,900.65 $538.30 $0.00 $497.00 $88,935.95
118 $88,935.95 $538.30 $0.00 $502.86 $89,977.11
119 $89,977.11 $538.30 $0.00 $508.74 $91,024.15
120 $91,024.15 $538.30 $0.00 $514.66 $92,077.11
121 $92,077.11 $538.30 $0.00 $520.62 $93,136.03
122 $93,136.03 $538.30 $0.00 $526.60 $94,200.93
123 $94,200.93 $538.30 $0.00 $532.63 $95,271.86
124 $95,271.86 $538.30 $0.00 $538.68 $96,348.84
125 $96,348.84 $538.30 $0.00 $544.77 $97,431.91
126 $97,431.91 $538.30 $0.00 $550.89 $98,521.10
127 $98,521.10 $538.30 $0.00 $557.05 $99,616.45
128 $99,616.45 $538.30 $0.00 $563.25 $100,718.00
129 $100,718.00 $538.30 $0.00 $569.47 $101,825.77
130 $101,825.77 $538.30 $0.00 $575.74 $102,939.81
131 $102,939.81 $538.30 $0.00 $582.04 $104,060.15
132 $104,060.15 $538.30 $0.00 $588.37 $105,186.82
133 $105,186.82 $538.30 $0.00 $594.74 $106,319.86
134 $106,319.86 $538.30 $0.00 $601.15 $107,459.31
135 $107,459.31 $538.30 $0.00 $607.59 $108,605.20
136 $108,605.20 $538.30 $0.00 $614.07 $109,757.57
137 $109,757.57 $538.30 $0.00 $620.59 $110,916.46
138 $110,916.46 $538.30 $0.00 $627.14 $112,081.90
139 $112,081.90 $538.30 $0.00 $633.73 $113,253.93
140 $113,253.93 $538.30 $0.00 $640.35 $114,432.58
141 $114,432.58 $538.30 $0.00 $647.02 $115,617.90
142 $115,617.90 $538.30 $0.00 $653.72 $116,809.92
143 $116,809.92 $538.30 $0.00 $660.46 $118,008.68
144 $118,008.68 $538.30 $0.00 $667.24 $119,214.22
145 $119,214.22 $538.30 $0.00 $674.05 $120,426.57
146 $120,426.57 $538.30 $0.00 $680.91 $121,645.78
147 $121,645.78 $538.30 $0.00 $687.80 $122,871.88
148 $122,871.88 $538.30 $0.00 $694.74 $124,104.92
149 $124,104.92 $538.30 $0.00 $701.71 $125,344.93
150 $125,344.93 $538.30 $0.00 $708.72 $126,591.95
151 $126,591.95 $538.30 $0.00 $715.77 $127,846.02
152 $127,846.02 $538.30 $0.00 $722.86 $129,107.18
153 $129,107.18 $538.30 $0.00 $729.99 $130,375.47
154 $130,375.47 $538.30 $0.00 $737.16 $131,650.93
155 $131,650.93 $538.30 $0.00 $744.37 $132,933.60
156 $132,933.60 $538.30 $0.00 $751.63 $134,223.53
157 $134,223.53 $538.30 $0.00 $758.92 $135,520.75
158 $135,520.75 $538.30 $0.00 $766.25 $136,825.30
159 $136,825.30 $538.30 $0.00 $773.63 $138,137.23
160 $138,137.23 $538.30 $0.00 $781.05 $139,456.58
161 $139,456.58 $538.30 $0.00 $788.51 $140,783.39
162 $140,783.39 $538.30 $0.00 $796.01 $142,117.70
163 $142,117.70 $538.30 $0.00 $803.55 $143,459.55
164 $143,459.55 $538.30 $0.00 $811.14 $144,808.99
165 $144,808.99 $538.30 $0.00 $818.77 $146,166.06
166 $146,166.06 $538.30 $0.00 $826.44 $147,530.80
167 $147,530.80 $538.30 $0.00 $834.16 $148,903.26
168 $148,903.26 $538.30 $0.00 $841.92 $150,283.48
169 $150,283.48 $538.30 $0.00 $849.72 $151,671.50
170 $151,671.50 $538.30 $0.00 $857.57 $153,067.37
171 $153,067.37 $538.30 $0.00 $865.47 $154,471.14
172 $154,471.14 $538.30 $0.00 $873.40 $155,882.84
173 $155,882.84 $538.30 $0.00 $881.38 $157,302.52
174 $157,302.52 $538.30 $0.00 $889.41 $158,730.23
175 $158,730.23 $538.30 $0.00 $897.48 $160,166.01
176 $160,166.01 $538.30 $0.00 $905.60 $161,609.91
177 $161,609.91 $538.30 $0.00 $913.77 $163,061.98
178 $163,061.98 $538.30 $0.00 $921.98 $164,522.26
179 $164,522.26 $538.30 $0.00 $930.23 $165,990.79
180 $165,990.79 $538.30 $0.00 $938.54 $167,467.63
181 $167,467.63 $538.30 $0.00 $946.89 $168,952.82
182 $168,952.82 $538.30 $0.00 $955.28 $170,446.40
183 $170,446.40 $538.30 $0.00 $963.73 $171,948.43
184 $171,948.43 $538.30 $0.00 $972.22 $173,458.95
185 $173,458.95 $538.30 $0.00 $980.76 $174,978.01
186 $174,978.01 $538.30 $0.00 $989.35 $176,505.66
187 $176,505.66 $538.30 $0.00 $997.99 $178,041.95
188 $178,041.95 $538.30 $0.00 $1,006.68 $179,586.93
189 $179,586.93 $538.30 $0.00 $1,015.41 $181,140.64
190 $181,140.64 $538.30 $0.00 $1,024.20 $182,703.14
191 $182,703.14 $538.30 $0.00 $1,033.03 $184,274.47
192 $184,274.47 $538.30 $0.00 $1,041.91 $185,854.68
193 $185,854.68 $538.30 $0.00 $1,050.85 $187,443.83
194 $187,443.83 $538.30 $0.00 $1,059.83 $189,041.96
195 $189,041.96 $538.30 $0.00 $1,068.87 $190,649.13
196 $190,649.13 $538.30 $0.00 $1,077.96 $192,265.39
197 $192,265.39 $538.30 $0.00 $1,087.10 $193,890.79
198 $193,890.79 $538.30 $0.00 $1,096.29 $195,525.38
199 $195,525.38 $538.30 $0.00 $1,105.53 $197,169.21
200 $197,169.21 $538.30 $0.00 $1,114.82 $198,822.33
201 $198,822.33 $538.30 $0.00 $1,124.17 $200,484.80
202 $200,484.80 $538.30 $0.00 $1,133.57 $202,156.67
203 $202,156.67 $538.30 $0.00 $1,143.02 $203,837.99
204 $203,837.99 $538.30 $0.00 $1,152.53 $205,528.82
205 $205,528.82 $538.30 $0.00 $1,162.09 $207,229.21
206 $207,229.21 $538.30 $0.00 $1,171.70 $208,939.21
207 $208,939.21 $538.30 $0.00 $1,181.37 $210,658.88
208 $210,658.88 $538.30 $0.00 $1,191.10 $212,388.28
209 $212,388.28 $538.30 $0.00 $1,200.87 $214,127.45
210 $214,127.45 $538.30 $0.00 $1,210.71 $215,876.46
211 $215,876.46 $538.30 $0.00 $1,220.60 $217,635.36
212 $217,635.36 $538.30 $0.00 $1,230.54 $219,404.20
213 $219,404.20 $538.30 $0.00 $1,240.54 $221,183.04
214 $221,183.04 $538.30 $0.00 $1,250.60 $222,971.94
215 $222,971.94 $538.30 $0.00 $1,260.72 $224,770.96
216 $224,770.96 $538.30 $0.00 $1,270.89 $226,580.15
217 $226,580.15 $538.30 $63,111.18 $1,281.12 $165,288.39
218 $165,288.39 $538.30 $0.00 $934.56 $166,761.25
219 $166,761.25 $538.30 $0.00 $942.89 $168,242.44
220 $168,242.44 $538.30 $0.00 $951.27 $169,732.01
221 $169,732.01 $538.30 $0.00 $959.69 $171,230.00
222 $171,230.00 $538.30 $0.00 $968.16 $172,736.46
223 $172,736.46 $538.30 $0.00 $976.68 $174,251.44
224 $174,251.44 $538.30 $0.00 $985.24 $175,774.98
225 $175,774.98 $538.30 $0.00 $993.86 $177,307.14
226 $177,307.14 $538.30 $0.00 $1,002.52 $178,847.96
227 $178,847.96 $538.30 $0.00 $1,011.23 $180,397.49
228 $180,397.49 $538.30 $0.00 $1,019.99 $181,955.78
229 $181,955.78 $538.30 $66,266.74 $1,028.80 $117,256.14
230 $117,256.14 $538.30 $0.00 $662.98 $118,457.42
231 $118,457.42 $538.30 $0.00 $669.78 $119,665.50
232 $119,665.50 $538.30 $0.00 $676.61 $120,880.41
233 $120,880.41 $538.30 $0.00 $683.48 $122,102.19
234 $122,102.19 $538.30 $0.00 $690.38 $123,330.87
235 $123,330.87 $538.30 $0.00 $697.33 $124,566.50
236 $124,566.50 $538.30 $0.00 $704.32 $125,809.12
237 $125,809.12 $538.30 $0.00 $711.34 $127,058.76
238 $127,058.76 $538.30 $0.00 $718.41 $128,315.47
239 $128,315.47 $538.30 $0.00 $725.51 $129,579.28
240 $129,579.28 $538.30 $0.00 $732.66 $130,850.24
241 $130,850.24 $538.30 $69,580.08 $739.85 $62,548.31
242 $62,548.31 $538.30 $0.00 $353.66 $63,440.27
243 $63,440.27 $538.30 $0.00 $358.70 $64,337.27
244 $64,337.27 $538.30 $0.00 $363.77 $65,239.34
245 $65,239.34 $538.30 $0.00 $368.87 $66,146.51
246 $66,146.51 $538.30 $0.00 $374.00 $67,058.81
247 $67,058.81 $538.30 $0.00 $379.16 $67,976.27
248 $67,976.27 $538.30 $0.00 $384.35 $68,898.92
249 $68,898.92 $538.30 $0.00 $389.56 $69,826.78
250 $69,826.78 $538.30 $0.00 $394.81 $70,759.89
251 $70,759.89 $538.30 $0.00 $400.09 $71,698.28
252 $71,698.28 $538.30 $0.00 $405.39 $72,641.97
253 $72,641.97 $0.00 $73,059.08 $410.73 ($6.38)