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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$156,500
Monthly savings required$1,239

How much will it cost to send your child to Ohio Wesleyan University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $626,000.27 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,238.82 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$60,350.00
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 $1,238.82 $0.00 $0.00 $1,238.82
2 $1,238.82 $1,238.82 $0.00 $7.00 $2,484.64
3 $2,484.64 $1,238.82 $0.00 $14.05 $3,737.51
4 $3,737.51 $1,238.82 $0.00 $21.13 $4,997.46
5 $4,997.46 $1,238.82 $0.00 $28.26 $6,264.54
6 $6,264.54 $1,238.82 $0.00 $35.42 $7,538.78
7 $7,538.78 $1,238.82 $0.00 $42.63 $8,820.23
8 $8,820.23 $1,238.82 $0.00 $49.87 $10,108.92
9 $10,108.92 $1,238.82 $0.00 $57.16 $11,404.90
10 $11,404.90 $1,238.82 $0.00 $64.48 $12,708.20
11 $12,708.20 $1,238.82 $0.00 $71.85 $14,018.87
12 $14,018.87 $1,238.82 $0.00 $79.26 $15,336.95
13 $15,336.95 $1,238.82 $0.00 $86.72 $16,662.49
14 $16,662.49 $1,238.82 $0.00 $94.21 $17,995.52
15 $17,995.52 $1,238.82 $0.00 $101.75 $19,336.09
16 $19,336.09 $1,238.82 $0.00 $109.33 $20,684.24
17 $20,684.24 $1,238.82 $0.00 $116.95 $22,040.01
18 $22,040.01 $1,238.82 $0.00 $124.62 $23,403.45
19 $23,403.45 $1,238.82 $0.00 $132.33 $24,774.60
20 $24,774.60 $1,238.82 $0.00 $140.08 $26,153.50
21 $26,153.50 $1,238.82 $0.00 $147.88 $27,540.20
22 $27,540.20 $1,238.82 $0.00 $155.72 $28,934.74
23 $28,934.74 $1,238.82 $0.00 $163.60 $30,337.16
24 $30,337.16 $1,238.82 $0.00 $171.53 $31,747.51
25 $31,747.51 $1,238.82 $0.00 $179.51 $33,165.84
26 $33,165.84 $1,238.82 $0.00 $187.52 $34,592.18
27 $34,592.18 $1,238.82 $0.00 $195.59 $36,026.59
28 $36,026.59 $1,238.82 $0.00 $203.70 $37,469.11
29 $37,469.11 $1,238.82 $0.00 $211.86 $38,919.79
30 $38,919.79 $1,238.82 $0.00 $220.06 $40,378.67
31 $40,378.67 $1,238.82 $0.00 $228.31 $41,845.80
32 $41,845.80 $1,238.82 $0.00 $236.60 $43,321.22
33 $43,321.22 $1,238.82 $0.00 $244.94 $44,804.98
34 $44,804.98 $1,238.82 $0.00 $253.33 $46,297.13
35 $46,297.13 $1,238.82 $0.00 $261.77 $47,797.72
36 $47,797.72 $1,238.82 $0.00 $270.26 $49,306.80
37 $49,306.80 $1,238.82 $0.00 $278.79 $50,824.41
38 $50,824.41 $1,238.82 $0.00 $287.37 $52,350.60
39 $52,350.60 $1,238.82 $0.00 $296.00 $53,885.42
40 $53,885.42 $1,238.82 $0.00 $304.68 $55,428.92
41 $55,428.92 $1,238.82 $0.00 $313.40 $56,981.14
42 $56,981.14 $1,238.82 $0.00 $322.18 $58,542.14
43 $58,542.14 $1,238.82 $0.00 $331.01 $60,111.97
44 $60,111.97 $1,238.82 $0.00 $339.88 $61,690.67
45 $61,690.67 $1,238.82 $0.00 $348.81 $63,278.30
46 $63,278.30 $1,238.82 $0.00 $357.78 $64,874.90
47 $64,874.90 $1,238.82 $0.00 $366.81 $66,480.53
48 $66,480.53 $1,238.82 $0.00 $375.89 $68,095.24
49 $68,095.24 $1,238.82 $0.00 $385.02 $69,719.08
50 $69,719.08 $1,238.82 $0.00 $394.20 $71,352.10
51 $71,352.10 $1,238.82 $0.00 $403.44 $72,994.36
52 $72,994.36 $1,238.82 $0.00 $412.72 $74,645.90
53 $74,645.90 $1,238.82 $0.00 $422.06 $76,306.78
54 $76,306.78 $1,238.82 $0.00 $431.45 $77,977.05
55 $77,977.05 $1,238.82 $0.00 $440.89 $79,656.76
56 $79,656.76 $1,238.82 $0.00 $450.39 $81,345.97
57 $81,345.97 $1,238.82 $0.00 $459.94 $83,044.73
58 $83,044.73 $1,238.82 $0.00 $469.55 $84,753.10
59 $84,753.10 $1,238.82 $0.00 $479.21 $86,471.13
60 $86,471.13 $1,238.82 $0.00 $488.92 $88,198.87
61 $88,198.87 $1,238.82 $0.00 $498.69 $89,936.38
62 $89,936.38 $1,238.82 $0.00 $508.51 $91,683.71
63 $91,683.71 $1,238.82 $0.00 $518.39 $93,440.92
64 $93,440.92 $1,238.82 $0.00 $528.33 $95,208.07
65 $95,208.07 $1,238.82 $0.00 $538.32 $96,985.21
66 $96,985.21 $1,238.82 $0.00 $548.37 $98,772.40
67 $98,772.40 $1,238.82 $0.00 $558.47 $100,569.69
68 $100,569.69 $1,238.82 $0.00 $568.64 $102,377.15
69 $102,377.15 $1,238.82 $0.00 $578.86 $104,194.83
70 $104,194.83 $1,238.82 $0.00 $589.13 $106,022.78
71 $106,022.78 $1,238.82 $0.00 $599.47 $107,861.07
72 $107,861.07 $1,238.82 $0.00 $609.86 $109,709.75
73 $109,709.75 $1,238.82 $0.00 $620.31 $111,568.88
74 $111,568.88 $1,238.82 $0.00 $630.83 $113,438.53
75 $113,438.53 $1,238.82 $0.00 $641.40 $115,318.75
76 $115,318.75 $1,238.82 $0.00 $652.03 $117,209.60
77 $117,209.60 $1,238.82 $0.00 $662.72 $119,111.14
78 $119,111.14 $1,238.82 $0.00 $673.47 $121,023.43
79 $121,023.43 $1,238.82 $0.00 $684.28 $122,946.53
80 $122,946.53 $1,238.82 $0.00 $695.16 $124,880.51
81 $124,880.51 $1,238.82 $0.00 $706.09 $126,825.42
82 $126,825.42 $1,238.82 $0.00 $717.09 $128,781.33
83 $128,781.33 $1,238.82 $0.00 $728.15 $130,748.30
84 $130,748.30 $1,238.82 $0.00 $739.27 $132,726.39
85 $132,726.39 $1,238.82 $0.00 $750.45 $134,715.66
86 $134,715.66 $1,238.82 $0.00 $761.70 $136,716.18
87 $136,716.18 $1,238.82 $0.00 $773.01 $138,728.01
88 $138,728.01 $1,238.82 $0.00 $784.39 $140,751.22
89 $140,751.22 $1,238.82 $0.00 $795.83 $142,785.87
90 $142,785.87 $1,238.82 $0.00 $807.33 $144,832.02
91 $144,832.02 $1,238.82 $0.00 $818.90 $146,889.74
92 $146,889.74 $1,238.82 $0.00 $830.54 $148,959.10
93 $148,959.10 $1,238.82 $0.00 $842.24 $151,040.16
94 $151,040.16 $1,238.82 $0.00 $854.00 $153,132.98
95 $153,132.98 $1,238.82 $0.00 $865.84 $155,237.64
96 $155,237.64 $1,238.82 $0.00 $877.74 $157,354.20
97 $157,354.20 $1,238.82 $0.00 $889.70 $159,482.72
98 $159,482.72 $1,238.82 $0.00 $901.74 $161,623.28
99 $161,623.28 $1,238.82 $0.00 $913.84 $163,775.94
100 $163,775.94 $1,238.82 $0.00 $926.01 $165,940.77
101 $165,940.77 $1,238.82 $0.00 $938.25 $168,117.84
102 $168,117.84 $1,238.82 $0.00 $950.56 $170,307.22
103 $170,307.22 $1,238.82 $0.00 $962.94 $172,508.98
104 $172,508.98 $1,238.82 $0.00 $975.39 $174,723.19
105 $174,723.19 $1,238.82 $0.00 $987.91 $176,949.92
106 $176,949.92 $1,238.82 $0.00 $1,000.50 $179,189.24
107 $179,189.24 $1,238.82 $0.00 $1,013.16 $181,441.22
108 $181,441.22 $1,238.82 $0.00 $1,025.90 $183,705.94
109 $183,705.94 $1,238.82 $0.00 $1,038.70 $185,983.46
110 $185,983.46 $1,238.82 $0.00 $1,051.58 $188,273.86
111 $188,273.86 $1,238.82 $0.00 $1,064.53 $190,577.21
112 $190,577.21 $1,238.82 $0.00 $1,077.55 $192,893.58
113 $192,893.58 $1,238.82 $0.00 $1,090.65 $195,223.05
114 $195,223.05 $1,238.82 $0.00 $1,103.82 $197,565.69
115 $197,565.69 $1,238.82 $0.00 $1,117.07 $199,921.58
116 $199,921.58 $1,238.82 $0.00 $1,130.39 $202,290.79
117 $202,290.79 $1,238.82 $0.00 $1,143.78 $204,673.39
118 $204,673.39 $1,238.82 $0.00 $1,157.25 $207,069.46
119 $207,069.46 $1,238.82 $0.00 $1,170.80 $209,479.08
120 $209,479.08 $1,238.82 $0.00 $1,184.43 $211,902.33
121 $211,902.33 $1,238.82 $0.00 $1,198.13 $214,339.28
122 $214,339.28 $1,238.82 $0.00 $1,211.91 $216,790.01
123 $216,790.01 $1,238.82 $0.00 $1,225.76 $219,254.59
124 $219,254.59 $1,238.82 $0.00 $1,239.70 $221,733.11
125 $221,733.11 $1,238.82 $0.00 $1,253.71 $224,225.64
126 $224,225.64 $1,238.82 $0.00 $1,267.80 $226,732.26
127 $226,732.26 $1,238.82 $0.00 $1,281.98 $229,253.06
128 $229,253.06 $1,238.82 $0.00 $1,296.23 $231,788.11
129 $231,788.11 $1,238.82 $0.00 $1,310.56 $234,337.49
130 $234,337.49 $1,238.82 $0.00 $1,324.98 $236,901.29
131 $236,901.29 $1,238.82 $0.00 $1,339.47 $239,479.58
132 $239,479.58 $1,238.82 $0.00 $1,354.05 $242,072.45
133 $242,072.45 $1,238.82 $0.00 $1,368.71 $244,679.98
134 $244,679.98 $1,238.82 $0.00 $1,383.46 $247,302.26
135 $247,302.26 $1,238.82 $0.00 $1,398.28 $249,939.36
136 $249,939.36 $1,238.82 $0.00 $1,413.19 $252,591.37
137 $252,591.37 $1,238.82 $0.00 $1,428.19 $255,258.38
138 $255,258.38 $1,238.82 $0.00 $1,443.27 $257,940.47
139 $257,940.47 $1,238.82 $0.00 $1,458.43 $260,637.72
140 $260,637.72 $1,238.82 $0.00 $1,473.68 $263,350.22
141 $263,350.22 $1,238.82 $0.00 $1,489.02 $266,078.06
142 $266,078.06 $1,238.82 $0.00 $1,504.44 $268,821.32
143 $268,821.32 $1,238.82 $0.00 $1,519.95 $271,580.09
144 $271,580.09 $1,238.82 $0.00 $1,535.55 $274,354.46
145 $274,354.46 $1,238.82 $0.00 $1,551.24 $277,144.52
146 $277,144.52 $1,238.82 $0.00 $1,567.02 $279,950.36
147 $279,950.36 $1,238.82 $0.00 $1,582.88 $282,772.06
148 $282,772.06 $1,238.82 $0.00 $1,598.83 $285,609.71
149 $285,609.71 $1,238.82 $0.00 $1,614.88 $288,463.41
150 $288,463.41 $1,238.82 $0.00 $1,631.01 $291,333.24
151 $291,333.24 $1,238.82 $0.00 $1,647.24 $294,219.30
152 $294,219.30 $1,238.82 $0.00 $1,663.56 $297,121.68
153 $297,121.68 $1,238.82 $0.00 $1,679.97 $300,040.47
154 $300,040.47 $1,238.82 $0.00 $1,696.47 $302,975.76
155 $302,975.76 $1,238.82 $0.00 $1,713.07 $305,927.65
156 $305,927.65 $1,238.82 $0.00 $1,729.76 $308,896.23
157 $308,896.23 $1,238.82 $0.00 $1,746.54 $311,881.59
158 $311,881.59 $1,238.82 $0.00 $1,763.42 $314,883.83
159 $314,883.83 $1,238.82 $0.00 $1,780.40 $317,903.05
160 $317,903.05 $1,238.82 $0.00 $1,797.47 $320,939.34
161 $320,939.34 $1,238.82 $0.00 $1,814.64 $323,992.80
162 $323,992.80 $1,238.82 $0.00 $1,831.90 $327,063.52
163 $327,063.52 $1,238.82 $0.00 $1,849.26 $330,151.60
164 $330,151.60 $1,238.82 $0.00 $1,866.73 $333,257.15
165 $333,257.15 $1,238.82 $0.00 $1,884.28 $336,380.25
166 $336,380.25 $1,238.82 $0.00 $1,901.94 $339,521.01
167 $339,521.01 $1,238.82 $0.00 $1,919.70 $342,679.53
168 $342,679.53 $1,238.82 $0.00 $1,937.56 $345,855.91
169 $345,855.91 $1,238.82 $0.00 $1,955.52 $349,050.25
170 $349,050.25 $1,238.82 $0.00 $1,973.58 $352,262.65
171 $352,262.65 $1,238.82 $0.00 $1,991.74 $355,493.21
172 $355,493.21 $1,238.82 $0.00 $2,010.01 $358,742.04
173 $358,742.04 $1,238.82 $0.00 $2,028.38 $362,009.24
174 $362,009.24 $1,238.82 $0.00 $2,046.85 $365,294.91
175 $365,294.91 $1,238.82 $0.00 $2,065.43 $368,599.16
176 $368,599.16 $1,238.82 $0.00 $2,084.11 $371,922.09
177 $371,922.09 $1,238.82 $0.00 $2,102.90 $375,263.81
178 $375,263.81 $1,238.82 $0.00 $2,121.80 $378,624.43
179 $378,624.43 $1,238.82 $0.00 $2,140.80 $382,004.05
180 $382,004.05 $1,238.82 $0.00 $2,159.91 $385,402.78
181 $385,402.78 $1,238.82 $0.00 $2,179.12 $388,820.72
182 $388,820.72 $1,238.82 $0.00 $2,198.45 $392,257.99
183 $392,257.99 $1,238.82 $0.00 $2,217.88 $395,714.69
184 $395,714.69 $1,238.82 $0.00 $2,237.43 $399,190.94
185 $399,190.94 $1,238.82 $0.00 $2,257.08 $402,686.84
186 $402,686.84 $1,238.82 $0.00 $2,276.85 $406,202.51
187 $406,202.51 $1,238.82 $0.00 $2,296.73 $409,738.06
188 $409,738.06 $1,238.82 $0.00 $2,316.72 $413,293.60
189 $413,293.60 $1,238.82 $0.00 $2,336.82 $416,869.24
190 $416,869.24 $1,238.82 $0.00 $2,357.04 $420,465.10
191 $420,465.10 $1,238.82 $0.00 $2,377.37 $424,081.29
192 $424,081.29 $1,238.82 $0.00 $2,397.82 $427,717.93
193 $427,717.93 $1,238.82 $0.00 $2,418.38 $431,375.13
194 $431,375.13 $1,238.82 $0.00 $2,439.06 $435,053.01
195 $435,053.01 $1,238.82 $0.00 $2,459.85 $438,751.68
196 $438,751.68 $1,238.82 $0.00 $2,480.77 $442,471.27
197 $442,471.27 $1,238.82 $0.00 $2,501.80 $446,211.89
198 $446,211.89 $1,238.82 $0.00 $2,522.95 $449,973.66
199 $449,973.66 $1,238.82 $0.00 $2,544.22 $453,756.70
200 $453,756.70 $1,238.82 $0.00 $2,565.61 $457,561.13
201 $457,561.13 $1,238.82 $0.00 $2,587.12 $461,387.07
202 $461,387.07 $1,238.82 $0.00 $2,608.75 $465,234.64
203 $465,234.64 $1,238.82 $0.00 $2,630.50 $469,103.96
204 $469,103.96 $1,238.82 $0.00 $2,652.38 $472,995.16
205 $472,995.16 $1,238.82 $0.00 $2,674.38 $476,908.36
206 $476,908.36 $1,238.82 $0.00 $2,696.51 $480,843.69
207 $480,843.69 $1,238.82 $0.00 $2,718.76 $484,801.27
208 $484,801.27 $1,238.82 $0.00 $2,741.14 $488,781.23
209 $488,781.23 $1,238.82 $0.00 $2,763.64 $492,783.69
210 $492,783.69 $1,238.82 $0.00 $2,786.27 $496,808.78
211 $496,808.78 $1,238.82 $0.00 $2,809.03 $500,856.63
212 $500,856.63 $1,238.82 $0.00 $2,831.92 $504,927.37
213 $504,927.37 $1,238.82 $0.00 $2,854.93 $509,021.12
214 $509,021.12 $1,238.82 $0.00 $2,878.08 $513,138.02
215 $513,138.02 $1,238.82 $0.00 $2,901.36 $517,278.20
216 $517,278.20 $1,238.82 $0.00 $2,924.77 $521,441.79
217 $521,441.79 $1,238.82 $145,239.47 $2,948.31 $380,389.45
218 $380,389.45 $1,238.82 $0.00 $2,150.78 $383,779.05
219 $383,779.05 $1,238.82 $0.00 $2,169.94 $387,187.81
220 $387,187.81 $1,238.82 $0.00 $2,189.22 $390,615.85
221 $390,615.85 $1,238.82 $0.00 $2,208.60 $394,063.27
222 $394,063.27 $1,238.82 $0.00 $2,228.09 $397,530.18
223 $397,530.18 $1,238.82 $0.00 $2,247.69 $401,016.69
224 $401,016.69 $1,238.82 $0.00 $2,267.41 $404,522.92
225 $404,522.92 $1,238.82 $0.00 $2,287.23 $408,048.97
226 $408,048.97 $1,238.82 $0.00 $2,307.17 $411,594.96
227 $411,594.96 $1,238.82 $0.00 $2,327.22 $415,161.00
228 $415,161.00 $1,238.82 $0.00 $2,347.38 $418,747.20
229 $418,747.20 $1,238.82 $152,501.44 $2,367.66 $269,852.24
230 $269,852.24 $1,238.82 $0.00 $1,525.78 $272,616.84
231 $272,616.84 $1,238.82 $0.00 $1,541.42 $275,397.08
232 $275,397.08 $1,238.82 $0.00 $1,557.14 $278,193.04
233 $278,193.04 $1,238.82 $0.00 $1,572.94 $281,004.80
234 $281,004.80 $1,238.82 $0.00 $1,588.84 $283,832.46
235 $283,832.46 $1,238.82 $0.00 $1,604.83 $286,676.11
236 $286,676.11 $1,238.82 $0.00 $1,620.91 $289,535.84
237 $289,535.84 $1,238.82 $0.00 $1,637.08 $292,411.74
238 $292,411.74 $1,238.82 $0.00 $1,653.34 $295,303.90
239 $295,303.90 $1,238.82 $0.00 $1,669.69 $298,212.41
240 $298,212.41 $1,238.82 $0.00 $1,686.14 $301,137.37
241 $301,137.37 $1,238.82 $160,126.52 $1,702.67 $143,952.34
242 $143,952.34 $1,238.82 $0.00 $813.93 $146,005.09
243 $146,005.09 $1,238.82 $0.00 $825.53 $148,069.44
244 $148,069.44 $1,238.82 $0.00 $837.21 $150,145.47
245 $150,145.47 $1,238.82 $0.00 $848.94 $152,233.23
246 $152,233.23 $1,238.82 $0.00 $860.75 $154,332.80
247 $154,332.80 $1,238.82 $0.00 $872.62 $156,444.24
248 $156,444.24 $1,238.82 $0.00 $884.56 $158,567.62
249 $158,567.62 $1,238.82 $0.00 $896.56 $160,703.00
250 $160,703.00 $1,238.82 $0.00 $908.64 $162,850.46
251 $162,850.46 $1,238.82 $0.00 $920.78 $165,010.06
252 $165,010.06 $1,238.82 $0.00 $932.99 $167,181.87
253 $167,181.87 $0.00 $168,132.84 $945.27 ($5.70)