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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$56,879
Monthly savings required$450

How much will it cost to send your child to University of North Carolina School of the Arts in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $227,517.65 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $450.25 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$21,934.00
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 $450.25 $0.00 $0.00 $450.25
2 $450.25 $450.25 $0.00 $2.55 $903.05
3 $903.05 $450.25 $0.00 $5.11 $1,358.41
4 $1,358.41 $450.25 $0.00 $7.68 $1,816.34
5 $1,816.34 $450.25 $0.00 $10.27 $2,276.86
6 $2,276.86 $450.25 $0.00 $12.87 $2,739.98
7 $2,739.98 $450.25 $0.00 $15.49 $3,205.72
8 $3,205.72 $450.25 $0.00 $18.13 $3,674.10
9 $3,674.10 $450.25 $0.00 $20.77 $4,145.12
10 $4,145.12 $450.25 $0.00 $23.44 $4,618.81
11 $4,618.81 $450.25 $0.00 $26.12 $5,095.18
12 $5,095.18 $450.25 $0.00 $28.81 $5,574.24
13 $5,574.24 $450.25 $0.00 $31.52 $6,056.01
14 $6,056.01 $450.25 $0.00 $34.24 $6,540.50
15 $6,540.50 $450.25 $0.00 $36.98 $7,027.73
16 $7,027.73 $450.25 $0.00 $39.74 $7,517.72
17 $7,517.72 $450.25 $0.00 $42.51 $8,010.48
18 $8,010.48 $450.25 $0.00 $45.29 $8,506.02
19 $8,506.02 $450.25 $0.00 $48.09 $9,004.36
20 $9,004.36 $450.25 $0.00 $50.91 $9,505.52
21 $9,505.52 $450.25 $0.00 $53.75 $10,009.52
22 $10,009.52 $450.25 $0.00 $56.60 $10,516.37
23 $10,516.37 $450.25 $0.00 $59.46 $11,026.08
24 $11,026.08 $450.25 $0.00 $62.34 $11,538.67
25 $11,538.67 $450.25 $0.00 $65.24 $12,054.16
26 $12,054.16 $450.25 $0.00 $68.16 $12,572.57
27 $12,572.57 $450.25 $0.00 $71.09 $13,093.91
28 $13,093.91 $450.25 $0.00 $74.03 $13,618.19
29 $13,618.19 $450.25 $0.00 $77.00 $14,145.44
30 $14,145.44 $450.25 $0.00 $79.98 $14,675.67
31 $14,675.67 $450.25 $0.00 $82.98 $15,208.90
32 $15,208.90 $450.25 $0.00 $85.99 $15,745.14
33 $15,745.14 $450.25 $0.00 $89.03 $16,284.42
34 $16,284.42 $450.25 $0.00 $92.07 $16,826.74
35 $16,826.74 $450.25 $0.00 $95.14 $17,372.13
36 $17,372.13 $450.25 $0.00 $98.22 $17,920.60
37 $17,920.60 $450.25 $0.00 $101.33 $18,472.18
38 $18,472.18 $450.25 $0.00 $104.44 $19,026.87
39 $19,026.87 $450.25 $0.00 $107.58 $19,584.70
40 $19,584.70 $450.25 $0.00 $110.73 $20,145.68
41 $20,145.68 $450.25 $0.00 $113.91 $20,709.84
42 $20,709.84 $450.25 $0.00 $117.10 $21,277.19
43 $21,277.19 $450.25 $0.00 $120.30 $21,847.74
44 $21,847.74 $450.25 $0.00 $123.53 $22,421.52
45 $22,421.52 $450.25 $0.00 $126.77 $22,998.54
46 $22,998.54 $450.25 $0.00 $130.04 $23,578.83
47 $23,578.83 $450.25 $0.00 $133.32 $24,162.40
48 $24,162.40 $450.25 $0.00 $136.62 $24,749.27
49 $24,749.27 $450.25 $0.00 $139.94 $25,339.46
50 $25,339.46 $450.25 $0.00 $143.27 $25,932.98
51 $25,932.98 $450.25 $0.00 $146.63 $26,529.86
52 $26,529.86 $450.25 $0.00 $150.00 $27,130.11
53 $27,130.11 $450.25 $0.00 $153.40 $27,733.76
54 $27,733.76 $450.25 $0.00 $156.81 $28,340.82
55 $28,340.82 $450.25 $0.00 $160.24 $28,951.31
56 $28,951.31 $450.25 $0.00 $163.69 $29,565.25
57 $29,565.25 $450.25 $0.00 $167.17 $30,182.67
58 $30,182.67 $450.25 $0.00 $170.66 $30,803.58
59 $30,803.58 $450.25 $0.00 $174.17 $31,428.00
60 $31,428.00 $450.25 $0.00 $177.70 $32,055.95
61 $32,055.95 $450.25 $0.00 $181.25 $32,687.45
62 $32,687.45 $450.25 $0.00 $184.82 $33,322.52
63 $33,322.52 $450.25 $0.00 $188.41 $33,961.18
64 $33,961.18 $450.25 $0.00 $192.02 $34,603.45
65 $34,603.45 $450.25 $0.00 $195.65 $35,249.35
66 $35,249.35 $450.25 $0.00 $199.30 $35,898.90
67 $35,898.90 $450.25 $0.00 $202.98 $36,552.13
68 $36,552.13 $450.25 $0.00 $206.67 $37,209.05
69 $37,209.05 $450.25 $0.00 $210.39 $37,869.69
70 $37,869.69 $450.25 $0.00 $214.12 $38,534.06
71 $38,534.06 $450.25 $0.00 $217.88 $39,202.19
72 $39,202.19 $450.25 $0.00 $221.65 $39,874.09
73 $39,874.09 $450.25 $0.00 $225.45 $40,549.79
74 $40,549.79 $450.25 $0.00 $229.27 $41,229.31
75 $41,229.31 $450.25 $0.00 $233.12 $41,912.68
76 $41,912.68 $450.25 $0.00 $236.98 $42,599.91
77 $42,599.91 $450.25 $0.00 $240.87 $43,291.03
78 $43,291.03 $450.25 $0.00 $244.77 $43,986.05
79 $43,986.05 $450.25 $0.00 $248.70 $44,685.00
80 $44,685.00 $450.25 $0.00 $252.66 $45,387.91
81 $45,387.91 $450.25 $0.00 $256.63 $46,094.79
82 $46,094.79 $450.25 $0.00 $260.63 $46,805.67
83 $46,805.67 $450.25 $0.00 $264.65 $47,520.57
84 $47,520.57 $450.25 $0.00 $268.69 $48,239.51
85 $48,239.51 $450.25 $0.00 $272.75 $48,962.51
86 $48,962.51 $450.25 $0.00 $276.84 $49,689.60
87 $49,689.60 $450.25 $0.00 $280.95 $50,420.80
88 $50,420.80 $450.25 $0.00 $285.09 $51,156.14
89 $51,156.14 $450.25 $0.00 $289.24 $51,895.63
90 $51,895.63 $450.25 $0.00 $293.43 $52,639.31
91 $52,639.31 $450.25 $0.00 $297.63 $53,387.19
92 $53,387.19 $450.25 $0.00 $301.86 $54,139.30
93 $54,139.30 $450.25 $0.00 $306.11 $54,895.66
94 $54,895.66 $450.25 $0.00 $310.39 $55,656.30
95 $55,656.30 $450.25 $0.00 $314.69 $56,421.24
96 $56,421.24 $450.25 $0.00 $319.01 $57,190.50
97 $57,190.50 $450.25 $0.00 $323.36 $57,964.11
98 $57,964.11 $450.25 $0.00 $327.74 $58,742.10
99 $58,742.10 $450.25 $0.00 $332.14 $59,524.49
100 $59,524.49 $450.25 $0.00 $336.56 $60,311.30
101 $60,311.30 $450.25 $0.00 $341.01 $61,102.56
102 $61,102.56 $450.25 $0.00 $345.48 $61,898.29
103 $61,898.29 $450.25 $0.00 $349.98 $62,698.52
104 $62,698.52 $450.25 $0.00 $354.51 $63,503.28
105 $63,503.28 $450.25 $0.00 $359.06 $64,312.59
106 $64,312.59 $450.25 $0.00 $363.63 $65,126.47
107 $65,126.47 $450.25 $0.00 $368.23 $65,944.95
108 $65,944.95 $450.25 $0.00 $372.86 $66,768.06
109 $66,768.06 $450.25 $0.00 $377.52 $67,595.83
110 $67,595.83 $450.25 $0.00 $382.20 $68,428.28
111 $68,428.28 $450.25 $0.00 $386.90 $69,265.43
112 $69,265.43 $450.25 $0.00 $391.64 $70,107.32
113 $70,107.32 $450.25 $0.00 $396.40 $70,953.97
114 $70,953.97 $450.25 $0.00 $401.18 $71,805.40
115 $71,805.40 $450.25 $0.00 $406.00 $72,661.65
116 $72,661.65 $450.25 $0.00 $410.84 $73,522.74
117 $73,522.74 $450.25 $0.00 $415.71 $74,388.70
118 $74,388.70 $450.25 $0.00 $420.60 $75,259.55
119 $75,259.55 $450.25 $0.00 $425.53 $76,135.33
120 $76,135.33 $450.25 $0.00 $430.48 $77,016.06
121 $77,016.06 $450.25 $0.00 $435.46 $77,901.77
122 $77,901.77 $450.25 $0.00 $440.47 $78,792.49
123 $78,792.49 $450.25 $0.00 $445.50 $79,688.24
124 $79,688.24 $450.25 $0.00 $450.57 $80,589.06
125 $80,589.06 $450.25 $0.00 $455.66 $81,494.97
126 $81,494.97 $450.25 $0.00 $460.78 $82,406.00
127 $82,406.00 $450.25 $0.00 $465.94 $83,322.19
128 $83,322.19 $450.25 $0.00 $471.12 $84,243.56
129 $84,243.56 $450.25 $0.00 $476.33 $85,170.14
130 $85,170.14 $450.25 $0.00 $481.56 $86,101.95
131 $86,101.95 $450.25 $0.00 $486.83 $87,039.03
132 $87,039.03 $450.25 $0.00 $492.13 $87,981.41
133 $87,981.41 $450.25 $0.00 $497.46 $88,929.12
134 $88,929.12 $450.25 $0.00 $502.82 $89,882.19
135 $89,882.19 $450.25 $0.00 $508.21 $90,840.65
136 $90,840.65 $450.25 $0.00 $513.63 $91,804.53
137 $91,804.53 $450.25 $0.00 $519.08 $92,773.86
138 $92,773.86 $450.25 $0.00 $524.56 $93,748.67
139 $93,748.67 $450.25 $0.00 $530.07 $94,728.99
140 $94,728.99 $450.25 $0.00 $535.61 $95,714.85
141 $95,714.85 $450.25 $0.00 $541.19 $96,706.29
142 $96,706.29 $450.25 $0.00 $546.79 $97,703.33
143 $97,703.33 $450.25 $0.00 $552.43 $98,706.01
144 $98,706.01 $450.25 $0.00 $558.10 $99,714.36
145 $99,714.36 $450.25 $0.00 $563.80 $100,728.41
146 $100,728.41 $450.25 $0.00 $569.53 $101,748.19
147 $101,748.19 $450.25 $0.00 $575.30 $102,773.74
148 $102,773.74 $450.25 $0.00 $581.10 $103,805.09
149 $103,805.09 $450.25 $0.00 $586.93 $104,842.27
150 $104,842.27 $450.25 $0.00 $592.79 $105,885.31
151 $105,885.31 $450.25 $0.00 $598.69 $106,934.25
152 $106,934.25 $450.25 $0.00 $604.62 $107,989.12
153 $107,989.12 $450.25 $0.00 $610.59 $109,049.96
154 $109,049.96 $450.25 $0.00 $616.58 $110,116.79
155 $110,116.79 $450.25 $0.00 $622.62 $111,189.66
156 $111,189.66 $450.25 $0.00 $628.68 $112,268.59
157 $112,268.59 $450.25 $0.00 $634.78 $113,353.62
158 $113,353.62 $450.25 $0.00 $640.92 $114,444.79
159 $114,444.79 $450.25 $0.00 $647.09 $115,542.13
160 $115,542.13 $450.25 $0.00 $653.29 $116,645.67
161 $116,645.67 $450.25 $0.00 $659.53 $117,755.45
162 $117,755.45 $450.25 $0.00 $665.81 $118,871.51
163 $118,871.51 $450.25 $0.00 $672.12 $119,993.88
164 $119,993.88 $450.25 $0.00 $678.46 $121,122.59
165 $121,122.59 $450.25 $0.00 $684.84 $122,257.68
166 $122,257.68 $450.25 $0.00 $691.26 $123,399.19
167 $123,399.19 $450.25 $0.00 $697.72 $124,547.16
168 $124,547.16 $450.25 $0.00 $704.21 $125,701.62
169 $125,701.62 $450.25 $0.00 $710.74 $126,862.61
170 $126,862.61 $450.25 $0.00 $717.30 $128,030.16
171 $128,030.16 $450.25 $0.00 $723.90 $129,204.31
172 $129,204.31 $450.25 $0.00 $730.54 $130,385.10
173 $130,385.10 $450.25 $0.00 $737.22 $131,572.57
174 $131,572.57 $450.25 $0.00 $743.93 $132,766.75
175 $132,766.75 $450.25 $0.00 $750.68 $133,967.68
176 $133,967.68 $450.25 $0.00 $757.47 $135,175.40
177 $135,175.40 $450.25 $0.00 $764.30 $136,389.95
178 $136,389.95 $450.25 $0.00 $771.17 $137,611.37
179 $137,611.37 $450.25 $0.00 $778.07 $138,839.69
180 $138,839.69 $450.25 $0.00 $785.02 $140,074.96
181 $140,074.96 $450.25 $0.00 $792.00 $141,317.21
182 $141,317.21 $450.25 $0.00 $799.03 $142,566.49
183 $142,566.49 $450.25 $0.00 $806.09 $143,822.83
184 $143,822.83 $450.25 $0.00 $813.20 $145,086.28
185 $145,086.28 $450.25 $0.00 $820.34 $146,356.87
186 $146,356.87 $450.25 $0.00 $827.52 $147,634.64
187 $147,634.64 $450.25 $0.00 $834.75 $148,919.64
188 $148,919.64 $450.25 $0.00 $842.01 $150,211.90
189 $150,211.90 $450.25 $0.00 $849.32 $151,511.47
190 $151,511.47 $450.25 $0.00 $856.67 $152,818.39
191 $152,818.39 $450.25 $0.00 $864.06 $154,132.70
192 $154,132.70 $450.25 $0.00 $871.49 $155,454.44
193 $155,454.44 $450.25 $0.00 $878.96 $156,783.65
194 $156,783.65 $450.25 $0.00 $886.48 $158,120.38
195 $158,120.38 $450.25 $0.00 $894.04 $159,464.67
196 $159,464.67 $450.25 $0.00 $901.64 $160,816.56
197 $160,816.56 $450.25 $0.00 $909.28 $162,176.09
198 $162,176.09 $450.25 $0.00 $916.97 $163,543.31
199 $163,543.31 $450.25 $0.00 $924.70 $164,918.26
200 $164,918.26 $450.25 $0.00 $932.47 $166,300.98
201 $166,300.98 $450.25 $0.00 $940.29 $167,691.52
202 $167,691.52 $450.25 $0.00 $948.15 $169,089.92
203 $169,089.92 $450.25 $0.00 $956.06 $170,496.23
204 $170,496.23 $450.25 $0.00 $964.01 $171,910.49
205 $171,910.49 $450.25 $0.00 $972.01 $173,332.75
206 $173,332.75 $450.25 $0.00 $980.05 $174,763.05
207 $174,763.05 $450.25 $0.00 $988.14 $176,201.44
208 $176,201.44 $450.25 $0.00 $996.27 $177,647.96
209 $177,647.96 $450.25 $0.00 $1,004.45 $179,102.66
210 $179,102.66 $450.25 $0.00 $1,012.67 $180,565.58
211 $180,565.58 $450.25 $0.00 $1,020.94 $182,036.77
212 $182,036.77 $450.25 $0.00 $1,029.26 $183,516.28
213 $183,516.28 $450.25 $0.00 $1,037.63 $185,004.16
214 $185,004.16 $450.25 $0.00 $1,046.04 $186,500.45
215 $186,500.45 $450.25 $0.00 $1,054.50 $188,005.20
216 $188,005.20 $450.25 $0.00 $1,063.01 $189,518.46
217 $189,518.46 $450.25 $52,786.79 $1,071.56 $138,253.48
218 $138,253.48 $450.25 $0.00 $781.71 $139,485.44
219 $139,485.44 $450.25 $0.00 $788.67 $140,724.36
220 $140,724.36 $450.25 $0.00 $795.68 $141,970.29
221 $141,970.29 $450.25 $0.00 $802.72 $143,223.26
222 $143,223.26 $450.25 $0.00 $809.81 $144,483.32
223 $144,483.32 $450.25 $0.00 $816.93 $145,750.50
224 $145,750.50 $450.25 $0.00 $824.09 $147,024.84
225 $147,024.84 $450.25 $0.00 $831.30 $148,306.39
226 $148,306.39 $450.25 $0.00 $838.55 $149,595.19
227 $149,595.19 $450.25 $0.00 $845.83 $150,891.27
228 $150,891.27 $450.25 $0.00 $853.16 $152,194.68
229 $152,194.68 $450.25 $55,426.13 $860.53 $98,079.33
230 $98,079.33 $450.25 $0.00 $554.55 $99,084.13
231 $99,084.13 $450.25 $0.00 $560.24 $100,094.62
232 $100,094.62 $450.25 $0.00 $565.95 $101,110.82
233 $101,110.82 $450.25 $0.00 $571.70 $102,132.77
234 $102,132.77 $450.25 $0.00 $577.47 $103,160.49
235 $103,160.49 $450.25 $0.00 $583.28 $104,194.02
236 $104,194.02 $450.25 $0.00 $589.13 $105,233.40
237 $105,233.40 $450.25 $0.00 $595.00 $106,278.65
238 $106,278.65 $450.25 $0.00 $600.91 $107,329.81
239 $107,329.81 $450.25 $0.00 $606.86 $108,386.92
240 $108,386.92 $450.25 $0.00 $612.84 $109,450.01
241 $109,450.01 $450.25 $58,197.43 $618.85 $52,321.68
242 $52,321.68 $450.25 $0.00 $295.83 $53,067.76
243 $53,067.76 $450.25 $0.00 $300.05 $53,818.06
244 $53,818.06 $450.25 $0.00 $304.30 $54,572.61
245 $54,572.61 $450.25 $0.00 $308.56 $55,331.42
246 $55,331.42 $450.25 $0.00 $312.85 $56,094.52
247 $56,094.52 $450.25 $0.00 $317.17 $56,861.94
248 $56,861.94 $450.25 $0.00 $321.51 $57,633.70
249 $57,633.70 $450.25 $0.00 $325.87 $58,409.82
250 $58,409.82 $450.25 $0.00 $330.26 $59,190.33
251 $59,190.33 $450.25 $0.00 $334.67 $59,975.25
252 $59,975.25 $450.25 $0.00 $339.11 $60,764.61
253 $60,764.61 $0.00 $61,107.30 $343.57 $0.88