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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$143,461
Monthly savings required$1,136

How much will it cost to send your child to Millsaps College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $573,845.69 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,135.62 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$55,322.00
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 $1,135.62 $0.00 $0.00 $1,135.62
2 $1,135.62 $1,135.62 $0.00 $6.42 $2,277.66
3 $2,277.66 $1,135.62 $0.00 $12.88 $3,426.16
4 $3,426.16 $1,135.62 $0.00 $19.37 $4,581.15
5 $4,581.15 $1,135.62 $0.00 $25.90 $5,742.67
6 $5,742.67 $1,135.62 $0.00 $32.47 $6,910.76
7 $6,910.76 $1,135.62 $0.00 $39.07 $8,085.45
8 $8,085.45 $1,135.62 $0.00 $45.72 $9,266.79
9 $9,266.79 $1,135.62 $0.00 $52.40 $10,454.81
10 $10,454.81 $1,135.62 $0.00 $59.11 $11,649.54
11 $11,649.54 $1,135.62 $0.00 $65.87 $12,851.03
12 $12,851.03 $1,135.62 $0.00 $72.66 $14,059.31
13 $14,059.31 $1,135.62 $0.00 $79.49 $15,274.42
14 $15,274.42 $1,135.62 $0.00 $86.36 $16,496.40
15 $16,496.40 $1,135.62 $0.00 $93.27 $17,725.29
16 $17,725.29 $1,135.62 $0.00 $100.22 $18,961.13
17 $18,961.13 $1,135.62 $0.00 $107.21 $20,203.96
18 $20,203.96 $1,135.62 $0.00 $114.24 $21,453.82
19 $21,453.82 $1,135.62 $0.00 $121.30 $22,710.74
20 $22,710.74 $1,135.62 $0.00 $128.41 $23,974.77
21 $23,974.77 $1,135.62 $0.00 $135.56 $25,245.95
22 $25,245.95 $1,135.62 $0.00 $142.74 $26,524.31
23 $26,524.31 $1,135.62 $0.00 $149.97 $27,809.90
24 $27,809.90 $1,135.62 $0.00 $157.24 $29,102.76
25 $29,102.76 $1,135.62 $0.00 $164.55 $30,402.93
26 $30,402.93 $1,135.62 $0.00 $171.90 $31,710.45
27 $31,710.45 $1,135.62 $0.00 $179.30 $33,025.37
28 $33,025.37 $1,135.62 $0.00 $186.73 $34,347.72
29 $34,347.72 $1,135.62 $0.00 $194.21 $35,677.55
30 $35,677.55 $1,135.62 $0.00 $201.73 $37,014.90
31 $37,014.90 $1,135.62 $0.00 $209.29 $38,359.81
32 $38,359.81 $1,135.62 $0.00 $216.89 $39,712.32
33 $39,712.32 $1,135.62 $0.00 $224.54 $41,072.48
34 $41,072.48 $1,135.62 $0.00 $232.23 $42,440.33
35 $42,440.33 $1,135.62 $0.00 $239.96 $43,815.91
36 $43,815.91 $1,135.62 $0.00 $247.74 $45,199.27
37 $45,199.27 $1,135.62 $0.00 $255.56 $46,590.45
38 $46,590.45 $1,135.62 $0.00 $263.43 $47,989.50
39 $47,989.50 $1,135.62 $0.00 $271.34 $49,396.46
40 $49,396.46 $1,135.62 $0.00 $279.29 $50,811.37
41 $50,811.37 $1,135.62 $0.00 $287.29 $52,234.28
42 $52,234.28 $1,135.62 $0.00 $295.34 $53,665.24
43 $53,665.24 $1,135.62 $0.00 $303.43 $55,104.29
44 $55,104.29 $1,135.62 $0.00 $311.57 $56,551.48
45 $56,551.48 $1,135.62 $0.00 $319.75 $58,006.85
46 $58,006.85 $1,135.62 $0.00 $327.98 $59,470.45
47 $59,470.45 $1,135.62 $0.00 $336.25 $60,942.32
48 $60,942.32 $1,135.62 $0.00 $344.58 $62,422.52
49 $62,422.52 $1,135.62 $0.00 $352.95 $63,911.09
50 $63,911.09 $1,135.62 $0.00 $361.36 $65,408.07
51 $65,408.07 $1,135.62 $0.00 $369.83 $66,913.52
52 $66,913.52 $1,135.62 $0.00 $378.34 $68,427.48
53 $68,427.48 $1,135.62 $0.00 $386.90 $69,950.00
54 $69,950.00 $1,135.62 $0.00 $395.51 $71,481.13
55 $71,481.13 $1,135.62 $0.00 $404.16 $73,020.91
56 $73,020.91 $1,135.62 $0.00 $412.87 $74,569.40
57 $74,569.40 $1,135.62 $0.00 $421.63 $76,126.65
58 $76,126.65 $1,135.62 $0.00 $430.43 $77,692.70
59 $77,692.70 $1,135.62 $0.00 $439.29 $79,267.61
60 $79,267.61 $1,135.62 $0.00 $448.19 $80,851.42
61 $80,851.42 $1,135.62 $0.00 $457.15 $82,444.19
62 $82,444.19 $1,135.62 $0.00 $466.15 $84,045.96
63 $84,045.96 $1,135.62 $0.00 $475.21 $85,656.79
64 $85,656.79 $1,135.62 $0.00 $484.32 $87,276.73
65 $87,276.73 $1,135.62 $0.00 $493.48 $88,905.83
66 $88,905.83 $1,135.62 $0.00 $502.69 $90,544.14
67 $90,544.14 $1,135.62 $0.00 $511.95 $92,191.71
68 $92,191.71 $1,135.62 $0.00 $521.27 $93,848.60
69 $93,848.60 $1,135.62 $0.00 $530.63 $95,514.85
70 $95,514.85 $1,135.62 $0.00 $540.05 $97,190.52
71 $97,190.52 $1,135.62 $0.00 $549.53 $98,875.67
72 $98,875.67 $1,135.62 $0.00 $559.06 $100,570.35
73 $100,570.35 $1,135.62 $0.00 $568.64 $102,274.61
74 $102,274.61 $1,135.62 $0.00 $578.28 $103,988.51
75 $103,988.51 $1,135.62 $0.00 $587.97 $105,712.10
76 $105,712.10 $1,135.62 $0.00 $597.71 $107,445.43
77 $107,445.43 $1,135.62 $0.00 $607.51 $109,188.56
78 $109,188.56 $1,135.62 $0.00 $617.37 $110,941.55
79 $110,941.55 $1,135.62 $0.00 $627.28 $112,704.45
80 $112,704.45 $1,135.62 $0.00 $637.25 $114,477.32
81 $114,477.32 $1,135.62 $0.00 $647.27 $116,260.21
82 $116,260.21 $1,135.62 $0.00 $657.35 $118,053.18
83 $118,053.18 $1,135.62 $0.00 $667.49 $119,856.29
84 $119,856.29 $1,135.62 $0.00 $677.68 $121,669.59
85 $121,669.59 $1,135.62 $0.00 $687.94 $123,493.15
86 $123,493.15 $1,135.62 $0.00 $698.25 $125,327.02
87 $125,327.02 $1,135.62 $0.00 $708.62 $127,171.26
88 $127,171.26 $1,135.62 $0.00 $719.04 $129,025.92
89 $129,025.92 $1,135.62 $0.00 $729.53 $130,891.07
90 $130,891.07 $1,135.62 $0.00 $740.08 $132,766.77
91 $132,766.77 $1,135.62 $0.00 $750.68 $134,653.07
92 $134,653.07 $1,135.62 $0.00 $761.35 $136,550.04
93 $136,550.04 $1,135.62 $0.00 $772.07 $138,457.73
94 $138,457.73 $1,135.62 $0.00 $782.86 $140,376.21
95 $140,376.21 $1,135.62 $0.00 $793.71 $142,305.54
96 $142,305.54 $1,135.62 $0.00 $804.62 $144,245.78
97 $144,245.78 $1,135.62 $0.00 $815.59 $146,196.99
98 $146,196.99 $1,135.62 $0.00 $826.62 $148,159.23
99 $148,159.23 $1,135.62 $0.00 $837.71 $150,132.56
100 $150,132.56 $1,135.62 $0.00 $848.87 $152,117.05
101 $152,117.05 $1,135.62 $0.00 $860.09 $154,112.76
102 $154,112.76 $1,135.62 $0.00 $871.38 $156,119.76
103 $156,119.76 $1,135.62 $0.00 $882.72 $158,138.10
104 $158,138.10 $1,135.62 $0.00 $894.14 $160,167.86
105 $160,167.86 $1,135.62 $0.00 $905.61 $162,209.09
106 $162,209.09 $1,135.62 $0.00 $917.15 $164,261.86
107 $164,261.86 $1,135.62 $0.00 $928.76 $166,326.24
108 $166,326.24 $1,135.62 $0.00 $940.43 $168,402.29
109 $168,402.29 $1,135.62 $0.00 $952.17 $170,490.08
110 $170,490.08 $1,135.62 $0.00 $963.98 $172,589.68
111 $172,589.68 $1,135.62 $0.00 $975.85 $174,701.15
112 $174,701.15 $1,135.62 $0.00 $987.79 $176,824.56
113 $176,824.56 $1,135.62 $0.00 $999.79 $178,959.97
114 $178,959.97 $1,135.62 $0.00 $1,011.87 $181,107.46
115 $181,107.46 $1,135.62 $0.00 $1,024.01 $183,267.09
116 $183,267.09 $1,135.62 $0.00 $1,036.22 $185,438.93
117 $185,438.93 $1,135.62 $0.00 $1,048.50 $187,623.05
118 $187,623.05 $1,135.62 $0.00 $1,060.85 $189,819.52
119 $189,819.52 $1,135.62 $0.00 $1,073.27 $192,028.41
120 $192,028.41 $1,135.62 $0.00 $1,085.76 $194,249.79
121 $194,249.79 $1,135.62 $0.00 $1,098.32 $196,483.73
122 $196,483.73 $1,135.62 $0.00 $1,110.95 $198,730.30
123 $198,730.30 $1,135.62 $0.00 $1,123.65 $200,989.57
124 $200,989.57 $1,135.62 $0.00 $1,136.42 $203,261.61
125 $203,261.61 $1,135.62 $0.00 $1,149.27 $205,546.50
126 $205,546.50 $1,135.62 $0.00 $1,162.19 $207,844.31
127 $207,844.31 $1,135.62 $0.00 $1,175.18 $210,155.11
128 $210,155.11 $1,135.62 $0.00 $1,188.25 $212,478.98
129 $212,478.98 $1,135.62 $0.00 $1,201.39 $214,815.99
130 $214,815.99 $1,135.62 $0.00 $1,214.60 $217,166.21
131 $217,166.21 $1,135.62 $0.00 $1,227.89 $219,529.72
132 $219,529.72 $1,135.62 $0.00 $1,241.25 $221,906.59
133 $221,906.59 $1,135.62 $0.00 $1,254.69 $224,296.90
134 $224,296.90 $1,135.62 $0.00 $1,268.21 $226,700.73
135 $226,700.73 $1,135.62 $0.00 $1,281.80 $229,118.15
136 $229,118.15 $1,135.62 $0.00 $1,295.47 $231,549.24
137 $231,549.24 $1,135.62 $0.00 $1,309.21 $233,994.07
138 $233,994.07 $1,135.62 $0.00 $1,323.04 $236,452.73
139 $236,452.73 $1,135.62 $0.00 $1,336.94 $238,925.29
140 $238,925.29 $1,135.62 $0.00 $1,350.92 $241,411.83
141 $241,411.83 $1,135.62 $0.00 $1,364.98 $243,912.43
142 $243,912.43 $1,135.62 $0.00 $1,379.12 $246,427.17
143 $246,427.17 $1,135.62 $0.00 $1,393.34 $248,956.13
144 $248,956.13 $1,135.62 $0.00 $1,407.63 $251,499.38
145 $251,499.38 $1,135.62 $0.00 $1,422.01 $254,057.01
146 $254,057.01 $1,135.62 $0.00 $1,436.48 $256,629.11
147 $256,629.11 $1,135.62 $0.00 $1,451.02 $259,215.75
148 $259,215.75 $1,135.62 $0.00 $1,465.64 $261,817.01
149 $261,817.01 $1,135.62 $0.00 $1,480.35 $264,432.98
150 $264,432.98 $1,135.62 $0.00 $1,495.14 $267,063.74
151 $267,063.74 $1,135.62 $0.00 $1,510.02 $269,709.38
152 $269,709.38 $1,135.62 $0.00 $1,524.98 $272,369.98
153 $272,369.98 $1,135.62 $0.00 $1,540.02 $275,045.62
154 $275,045.62 $1,135.62 $0.00 $1,555.15 $277,736.39
155 $277,736.39 $1,135.62 $0.00 $1,570.36 $280,442.37
156 $280,442.37 $1,135.62 $0.00 $1,585.66 $283,163.65
157 $283,163.65 $1,135.62 $0.00 $1,601.05 $285,900.32
158 $285,900.32 $1,135.62 $0.00 $1,616.52 $288,652.46
159 $288,652.46 $1,135.62 $0.00 $1,632.08 $291,420.16
160 $291,420.16 $1,135.62 $0.00 $1,647.73 $294,203.51
161 $294,203.51 $1,135.62 $0.00 $1,663.47 $297,002.60
162 $297,002.60 $1,135.62 $0.00 $1,679.30 $299,817.52
163 $299,817.52 $1,135.62 $0.00 $1,695.21 $302,648.35
164 $302,648.35 $1,135.62 $0.00 $1,711.22 $305,495.19
165 $305,495.19 $1,135.62 $0.00 $1,727.31 $308,358.12
166 $308,358.12 $1,135.62 $0.00 $1,743.50 $311,237.24
167 $311,237.24 $1,135.62 $0.00 $1,759.78 $314,132.64
168 $314,132.64 $1,135.62 $0.00 $1,776.15 $317,044.41
169 $317,044.41 $1,135.62 $0.00 $1,792.62 $319,972.65
170 $319,972.65 $1,135.62 $0.00 $1,809.17 $322,917.44
171 $322,917.44 $1,135.62 $0.00 $1,825.82 $325,878.88
172 $325,878.88 $1,135.62 $0.00 $1,842.57 $328,857.07
173 $328,857.07 $1,135.62 $0.00 $1,859.41 $331,852.10
174 $331,852.10 $1,135.62 $0.00 $1,876.34 $334,864.06
175 $334,864.06 $1,135.62 $0.00 $1,893.37 $337,893.05
176 $337,893.05 $1,135.62 $0.00 $1,910.50 $340,939.17
177 $340,939.17 $1,135.62 $0.00 $1,927.72 $344,002.51
178 $344,002.51 $1,135.62 $0.00 $1,945.04 $347,083.17
179 $347,083.17 $1,135.62 $0.00 $1,962.46 $350,181.25
180 $350,181.25 $1,135.62 $0.00 $1,979.98 $353,296.85
181 $353,296.85 $1,135.62 $0.00 $1,997.59 $356,430.06
182 $356,430.06 $1,135.62 $0.00 $2,015.31 $359,580.99
183 $359,580.99 $1,135.62 $0.00 $2,033.12 $362,749.73
184 $362,749.73 $1,135.62 $0.00 $2,051.04 $365,936.39
185 $365,936.39 $1,135.62 $0.00 $2,069.06 $369,141.07
186 $369,141.07 $1,135.62 $0.00 $2,087.18 $372,363.87
187 $372,363.87 $1,135.62 $0.00 $2,105.40 $375,604.89
188 $375,604.89 $1,135.62 $0.00 $2,123.72 $378,864.23
189 $378,864.23 $1,135.62 $0.00 $2,142.15 $382,142.00
190 $382,142.00 $1,135.62 $0.00 $2,160.69 $385,438.31
191 $385,438.31 $1,135.62 $0.00 $2,179.32 $388,753.25
192 $388,753.25 $1,135.62 $0.00 $2,198.07 $392,086.94
193 $392,086.94 $1,135.62 $0.00 $2,216.92 $395,439.48
194 $395,439.48 $1,135.62 $0.00 $2,235.87 $398,810.97
195 $398,810.97 $1,135.62 $0.00 $2,254.94 $402,201.53
196 $402,201.53 $1,135.62 $0.00 $2,274.11 $405,611.26
197 $405,611.26 $1,135.62 $0.00 $2,293.39 $409,040.27
198 $409,040.27 $1,135.62 $0.00 $2,312.77 $412,488.66
199 $412,488.66 $1,135.62 $0.00 $2,332.27 $415,956.55
200 $415,956.55 $1,135.62 $0.00 $2,351.88 $419,444.05
201 $419,444.05 $1,135.62 $0.00 $2,371.60 $422,951.27
202 $422,951.27 $1,135.62 $0.00 $2,391.43 $426,478.32
203 $426,478.32 $1,135.62 $0.00 $2,411.37 $430,025.31
204 $430,025.31 $1,135.62 $0.00 $2,431.43 $433,592.36
205 $433,592.36 $1,135.62 $0.00 $2,451.59 $437,179.57
206 $437,179.57 $1,135.62 $0.00 $2,471.88 $440,787.07
207 $440,787.07 $1,135.62 $0.00 $2,492.27 $444,414.96
208 $444,414.96 $1,135.62 $0.00 $2,512.79 $448,063.37
209 $448,063.37 $1,135.62 $0.00 $2,533.42 $451,732.41
210 $451,732.41 $1,135.62 $0.00 $2,554.16 $455,422.19
211 $455,422.19 $1,135.62 $0.00 $2,575.02 $459,132.83
212 $459,132.83 $1,135.62 $0.00 $2,596.00 $462,864.45
213 $462,864.45 $1,135.62 $0.00 $2,617.10 $466,617.17
214 $466,617.17 $1,135.62 $0.00 $2,638.32 $470,391.11
215 $470,391.11 $1,135.62 $0.00 $2,659.66 $474,186.39
216 $474,186.39 $1,135.62 $0.00 $2,681.12 $478,003.13
217 $478,003.13 $1,135.62 $133,138.99 $2,702.70 $348,702.46
218 $348,702.46 $1,135.62 $0.00 $1,971.61 $351,809.69
219 $351,809.69 $1,135.62 $0.00 $1,989.18 $354,934.49
220 $354,934.49 $1,135.62 $0.00 $2,006.85 $358,076.96
221 $358,076.96 $1,135.62 $0.00 $2,024.62 $361,237.20
222 $361,237.20 $1,135.62 $0.00 $2,042.49 $364,415.31
223 $364,415.31 $1,135.62 $0.00 $2,060.46 $367,611.39
224 $367,611.39 $1,135.62 $0.00 $2,078.53 $370,825.54
225 $370,825.54 $1,135.62 $0.00 $2,096.70 $374,057.86
226 $374,057.86 $1,135.62 $0.00 $2,114.98 $377,308.46
227 $377,308.46 $1,135.62 $0.00 $2,133.36 $380,577.44
228 $380,577.44 $1,135.62 $0.00 $2,151.84 $383,864.90
229 $383,864.90 $1,135.62 $139,795.94 $2,170.43 $247,375.01
230 $247,375.01 $1,135.62 $0.00 $1,398.69 $249,909.32
231 $249,909.32 $1,135.62 $0.00 $1,413.02 $252,457.96
232 $252,457.96 $1,135.62 $0.00 $1,427.43 $255,021.01
233 $255,021.01 $1,135.62 $0.00 $1,441.93 $257,598.56
234 $257,598.56 $1,135.62 $0.00 $1,456.50 $260,190.68
235 $260,190.68 $1,135.62 $0.00 $1,471.16 $262,797.46
236 $262,797.46 $1,135.62 $0.00 $1,485.90 $265,418.98
237 $265,418.98 $1,135.62 $0.00 $1,500.72 $268,055.32
238 $268,055.32 $1,135.62 $0.00 $1,515.62 $270,706.56
239 $270,706.56 $1,135.62 $0.00 $1,530.61 $273,372.79
240 $273,372.79 $1,135.62 $0.00 $1,545.69 $276,054.10
241 $276,054.10 $1,135.62 $146,785.74 $1,560.85 $131,964.83
242 $131,964.83 $1,135.62 $0.00 $746.15 $133,846.60
243 $133,846.60 $1,135.62 $0.00 $756.79 $135,739.01
244 $135,739.01 $1,135.62 $0.00 $767.49 $137,642.12
245 $137,642.12 $1,135.62 $0.00 $778.25 $139,555.99
246 $139,555.99 $1,135.62 $0.00 $789.07 $141,480.68
247 $141,480.68 $1,135.62 $0.00 $799.95 $143,416.25
248 $143,416.25 $1,135.62 $0.00 $810.90 $145,362.77
249 $145,362.77 $1,135.62 $0.00 $821.90 $147,320.29
250 $147,320.29 $1,135.62 $0.00 $832.97 $149,288.88
251 $149,288.88 $1,135.62 $0.00 $844.10 $151,268.60
252 $151,268.60 $1,135.62 $0.00 $855.29 $153,259.51
253 $153,259.51 $0.00 $154,125.02 $866.55 $1.04