Savings Plan and Future Cost Estimation for Lipscomb University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$212,675
Monthly savings required$1,681

How much will it cost to send your child to Lipscomb University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $850,700.19 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,680.82 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$56,688.00
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 $1,680.82 $0.00 $0.00 $1,680.82
2 $1,680.82 $1,680.82 $0.00 $9.50 $3,371.14
3 $3,371.14 $1,680.82 $0.00 $19.06 $5,071.02
4 $5,071.02 $1,680.82 $0.00 $28.67 $6,780.51
5 $6,780.51 $1,680.82 $0.00 $38.34 $8,499.67
6 $8,499.67 $1,680.82 $0.00 $48.06 $10,228.55
7 $10,228.55 $1,680.82 $0.00 $57.83 $11,967.20
8 $11,967.20 $1,680.82 $0.00 $67.66 $13,715.68
9 $13,715.68 $1,680.82 $0.00 $77.55 $15,474.05
10 $15,474.05 $1,680.82 $0.00 $87.49 $17,242.36
11 $17,242.36 $1,680.82 $0.00 $97.49 $19,020.67
12 $19,020.67 $1,680.82 $0.00 $107.55 $20,809.04
13 $20,809.04 $1,680.82 $0.00 $117.66 $22,607.52
14 $22,607.52 $1,680.82 $0.00 $127.83 $24,416.17
15 $24,416.17 $1,680.82 $0.00 $138.05 $26,235.04
16 $26,235.04 $1,680.82 $0.00 $148.34 $28,064.20
17 $28,064.20 $1,680.82 $0.00 $158.68 $29,903.70
18 $29,903.70 $1,680.82 $0.00 $169.08 $31,753.60
19 $31,753.60 $1,680.82 $0.00 $179.54 $33,613.96
20 $33,613.96 $1,680.82 $0.00 $190.06 $35,484.84
21 $35,484.84 $1,680.82 $0.00 $200.64 $37,366.30
22 $37,366.30 $1,680.82 $0.00 $211.27 $39,258.39
23 $39,258.39 $1,680.82 $0.00 $221.97 $41,161.18
24 $41,161.18 $1,680.82 $0.00 $232.73 $43,074.73
25 $43,074.73 $1,680.82 $0.00 $243.55 $44,999.10
26 $44,999.10 $1,680.82 $0.00 $254.43 $46,934.35
27 $46,934.35 $1,680.82 $0.00 $265.37 $48,880.54
28 $48,880.54 $1,680.82 $0.00 $276.38 $50,837.74
29 $50,837.74 $1,680.82 $0.00 $287.44 $52,806.00
30 $52,806.00 $1,680.82 $0.00 $298.57 $54,785.39
31 $54,785.39 $1,680.82 $0.00 $309.76 $56,775.97
32 $56,775.97 $1,680.82 $0.00 $321.02 $58,777.81
33 $58,777.81 $1,680.82 $0.00 $332.34 $60,790.97
34 $60,790.97 $1,680.82 $0.00 $343.72 $62,815.51
35 $62,815.51 $1,680.82 $0.00 $355.17 $64,851.50
36 $64,851.50 $1,680.82 $0.00 $366.68 $66,899.00
37 $66,899.00 $1,680.82 $0.00 $378.26 $68,958.08
38 $68,958.08 $1,680.82 $0.00 $389.90 $71,028.80
39 $71,028.80 $1,680.82 $0.00 $401.61 $73,111.23
40 $73,111.23 $1,680.82 $0.00 $413.38 $75,205.43
41 $75,205.43 $1,680.82 $0.00 $425.22 $77,311.47
42 $77,311.47 $1,680.82 $0.00 $437.13 $79,429.42
43 $79,429.42 $1,680.82 $0.00 $449.11 $81,559.35
44 $81,559.35 $1,680.82 $0.00 $461.15 $83,701.32
45 $83,701.32 $1,680.82 $0.00 $473.26 $85,855.40
46 $85,855.40 $1,680.82 $0.00 $485.44 $88,021.66
47 $88,021.66 $1,680.82 $0.00 $497.69 $90,200.17
48 $90,200.17 $1,680.82 $0.00 $510.00 $92,390.99
49 $92,390.99 $1,680.82 $0.00 $522.39 $94,594.20
50 $94,594.20 $1,680.82 $0.00 $534.85 $96,809.87
51 $96,809.87 $1,680.82 $0.00 $547.38 $99,038.07
52 $99,038.07 $1,680.82 $0.00 $559.98 $101,278.87
53 $101,278.87 $1,680.82 $0.00 $572.65 $103,532.34
54 $103,532.34 $1,680.82 $0.00 $585.39 $105,798.55
55 $105,798.55 $1,680.82 $0.00 $598.20 $108,077.57
56 $108,077.57 $1,680.82 $0.00 $611.09 $110,369.48
57 $110,369.48 $1,680.82 $0.00 $624.05 $112,674.35
58 $112,674.35 $1,680.82 $0.00 $637.08 $114,992.25
59 $114,992.25 $1,680.82 $0.00 $650.18 $117,323.25
60 $117,323.25 $1,680.82 $0.00 $663.36 $119,667.43
61 $119,667.43 $1,680.82 $0.00 $676.62 $122,024.87
62 $122,024.87 $1,680.82 $0.00 $689.95 $124,395.64
63 $124,395.64 $1,680.82 $0.00 $703.35 $126,779.81
64 $126,779.81 $1,680.82 $0.00 $716.83 $129,177.46
65 $129,177.46 $1,680.82 $0.00 $730.39 $131,588.67
66 $131,588.67 $1,680.82 $0.00 $744.02 $134,013.51
67 $134,013.51 $1,680.82 $0.00 $757.73 $136,452.06
68 $136,452.06 $1,680.82 $0.00 $771.52 $138,904.40
69 $138,904.40 $1,680.82 $0.00 $785.39 $141,370.61
70 $141,370.61 $1,680.82 $0.00 $799.33 $143,850.76
71 $143,850.76 $1,680.82 $0.00 $813.35 $146,344.93
72 $146,344.93 $1,680.82 $0.00 $827.46 $148,853.21
73 $148,853.21 $1,680.82 $0.00 $841.64 $151,375.67
74 $151,375.67 $1,680.82 $0.00 $855.90 $153,912.39
75 $153,912.39 $1,680.82 $0.00 $870.24 $156,463.45
76 $156,463.45 $1,680.82 $0.00 $884.67 $159,028.94
77 $159,028.94 $1,680.82 $0.00 $899.17 $161,608.93
78 $161,608.93 $1,680.82 $0.00 $913.76 $164,203.51
79 $164,203.51 $1,680.82 $0.00 $928.43 $166,812.76
80 $166,812.76 $1,680.82 $0.00 $943.18 $169,436.76
81 $169,436.76 $1,680.82 $0.00 $958.02 $172,075.60
82 $172,075.60 $1,680.82 $0.00 $972.94 $174,729.36
83 $174,729.36 $1,680.82 $0.00 $987.95 $177,398.13
84 $177,398.13 $1,680.82 $0.00 $1,003.03 $180,081.98
85 $180,081.98 $1,680.82 $0.00 $1,018.21 $182,781.01
86 $182,781.01 $1,680.82 $0.00 $1,033.47 $185,495.30
87 $185,495.30 $1,680.82 $0.00 $1,048.82 $188,224.94
88 $188,224.94 $1,680.82 $0.00 $1,064.25 $190,970.01
89 $190,970.01 $1,680.82 $0.00 $1,079.77 $193,730.60
90 $193,730.60 $1,680.82 $0.00 $1,095.38 $196,506.80
91 $196,506.80 $1,680.82 $0.00 $1,111.08 $199,298.70
92 $199,298.70 $1,680.82 $0.00 $1,126.86 $202,106.38
93 $202,106.38 $1,680.82 $0.00 $1,142.74 $204,929.94
94 $204,929.94 $1,680.82 $0.00 $1,158.70 $207,769.46
95 $207,769.46 $1,680.82 $0.00 $1,174.76 $210,625.04
96 $210,625.04 $1,680.82 $0.00 $1,190.90 $213,496.76
97 $213,496.76 $1,680.82 $0.00 $1,207.14 $216,384.72
98 $216,384.72 $1,680.82 $0.00 $1,223.47 $219,289.01
99 $219,289.01 $1,680.82 $0.00 $1,239.89 $222,209.72
100 $222,209.72 $1,680.82 $0.00 $1,256.41 $225,146.95
101 $225,146.95 $1,680.82 $0.00 $1,273.01 $228,100.78
102 $228,100.78 $1,680.82 $0.00 $1,289.71 $231,071.31
103 $231,071.31 $1,680.82 $0.00 $1,306.51 $234,058.64
104 $234,058.64 $1,680.82 $0.00 $1,323.40 $237,062.86
105 $237,062.86 $1,680.82 $0.00 $1,340.39 $240,084.07
106 $240,084.07 $1,680.82 $0.00 $1,357.47 $243,122.36
107 $243,122.36 $1,680.82 $0.00 $1,374.65 $246,177.83
108 $246,177.83 $1,680.82 $0.00 $1,391.93 $249,250.58
109 $249,250.58 $1,680.82 $0.00 $1,409.30 $252,340.70
110 $252,340.70 $1,680.82 $0.00 $1,426.77 $255,448.29
111 $255,448.29 $1,680.82 $0.00 $1,444.34 $258,573.45
112 $258,573.45 $1,680.82 $0.00 $1,462.01 $261,716.28
113 $261,716.28 $1,680.82 $0.00 $1,479.78 $264,876.88
114 $264,876.88 $1,680.82 $0.00 $1,497.65 $268,055.35
115 $268,055.35 $1,680.82 $0.00 $1,515.62 $271,251.79
116 $271,251.79 $1,680.82 $0.00 $1,533.70 $274,466.31
117 $274,466.31 $1,680.82 $0.00 $1,551.87 $277,699.00
118 $277,699.00 $1,680.82 $0.00 $1,570.15 $280,949.97
119 $280,949.97 $1,680.82 $0.00 $1,588.53 $284,219.32
120 $284,219.32 $1,680.82 $0.00 $1,607.02 $287,507.16
121 $287,507.16 $1,680.82 $0.00 $1,625.61 $290,813.59
122 $290,813.59 $1,680.82 $0.00 $1,644.30 $294,138.71
123 $294,138.71 $1,680.82 $0.00 $1,663.10 $297,482.63
124 $297,482.63 $1,680.82 $0.00 $1,682.01 $300,845.46
125 $300,845.46 $1,680.82 $0.00 $1,701.02 $304,227.30
126 $304,227.30 $1,680.82 $0.00 $1,720.15 $307,628.27
127 $307,628.27 $1,680.82 $0.00 $1,739.37 $311,048.46
128 $311,048.46 $1,680.82 $0.00 $1,758.71 $314,487.99
129 $314,487.99 $1,680.82 $0.00 $1,778.16 $317,946.97
130 $317,946.97 $1,680.82 $0.00 $1,797.72 $321,425.51
131 $321,425.51 $1,680.82 $0.00 $1,817.39 $324,923.72
132 $324,923.72 $1,680.82 $0.00 $1,837.17 $328,441.71
133 $328,441.71 $1,680.82 $0.00 $1,857.06 $331,979.59
134 $331,979.59 $1,680.82 $0.00 $1,877.06 $335,537.47
135 $335,537.47 $1,680.82 $0.00 $1,897.18 $339,115.47
136 $339,115.47 $1,680.82 $0.00 $1,917.41 $342,713.70
137 $342,713.70 $1,680.82 $0.00 $1,937.75 $346,332.27
138 $346,332.27 $1,680.82 $0.00 $1,958.21 $349,971.30
139 $349,971.30 $1,680.82 $0.00 $1,978.79 $353,630.91
140 $353,630.91 $1,680.82 $0.00 $1,999.48 $357,311.21
141 $357,311.21 $1,680.82 $0.00 $2,020.29 $361,012.32
142 $361,012.32 $1,680.82 $0.00 $2,041.22 $364,734.36
143 $364,734.36 $1,680.82 $0.00 $2,062.26 $368,477.44
144 $368,477.44 $1,680.82 $0.00 $2,083.43 $372,241.69
145 $372,241.69 $1,680.82 $0.00 $2,104.71 $376,027.22
146 $376,027.22 $1,680.82 $0.00 $2,126.11 $379,834.15
147 $379,834.15 $1,680.82 $0.00 $2,147.64 $383,662.61
148 $383,662.61 $1,680.82 $0.00 $2,169.28 $387,512.71
149 $387,512.71 $1,680.82 $0.00 $2,191.05 $391,384.58
150 $391,384.58 $1,680.82 $0.00 $2,212.95 $395,278.35
151 $395,278.35 $1,680.82 $0.00 $2,234.96 $399,194.13
152 $399,194.13 $1,680.82 $0.00 $2,257.10 $403,132.05
153 $403,132.05 $1,680.82 $0.00 $2,279.37 $407,092.24
154 $407,092.24 $1,680.82 $0.00 $2,301.76 $411,074.82
155 $411,074.82 $1,680.82 $0.00 $2,324.28 $415,079.92
156 $415,079.92 $1,680.82 $0.00 $2,346.92 $419,107.66
157 $419,107.66 $1,680.82 $0.00 $2,369.70 $423,158.18
158 $423,158.18 $1,680.82 $0.00 $2,392.60 $427,231.60
159 $427,231.60 $1,680.82 $0.00 $2,415.63 $431,328.05
160 $431,328.05 $1,680.82 $0.00 $2,438.79 $435,447.66
161 $435,447.66 $1,680.82 $0.00 $2,462.08 $439,590.56
162 $439,590.56 $1,680.82 $0.00 $2,485.51 $443,756.89
163 $443,756.89 $1,680.82 $0.00 $2,509.07 $447,946.78
164 $447,946.78 $1,680.82 $0.00 $2,532.76 $452,160.36
165 $452,160.36 $1,680.82 $0.00 $2,556.58 $456,397.76
166 $456,397.76 $1,680.82 $0.00 $2,580.54 $460,659.12
167 $460,659.12 $1,680.82 $0.00 $2,604.63 $464,944.57
168 $464,944.57 $1,680.82 $0.00 $2,628.86 $469,254.25
169 $469,254.25 $1,680.82 $0.00 $2,653.23 $473,588.30
170 $473,588.30 $1,680.82 $0.00 $2,677.74 $477,946.86
171 $477,946.86 $1,680.82 $0.00 $2,702.38 $482,330.06
172 $482,330.06 $1,680.82 $0.00 $2,727.16 $486,738.04
173 $486,738.04 $1,680.82 $0.00 $2,752.09 $491,170.95
174 $491,170.95 $1,680.82 $0.00 $2,777.15 $495,628.92
175 $495,628.92 $1,680.82 $0.00 $2,802.36 $500,112.10
176 $500,112.10 $1,680.82 $0.00 $2,827.71 $504,620.63
177 $504,620.63 $1,680.82 $0.00 $2,853.20 $509,154.65
178 $509,154.65 $1,680.82 $0.00 $2,878.83 $513,714.30
179 $513,714.30 $1,680.82 $0.00 $2,904.62 $518,299.74
180 $518,299.74 $1,680.82 $0.00 $2,930.54 $522,911.10
181 $522,911.10 $1,680.82 $0.00 $2,956.62 $527,548.54
182 $527,548.54 $1,680.82 $0.00 $2,982.84 $532,212.20
183 $532,212.20 $1,680.82 $0.00 $3,009.21 $536,902.23
184 $536,902.23 $1,680.82 $0.00 $3,035.72 $541,618.77
185 $541,618.77 $1,680.82 $0.00 $3,062.39 $546,361.98
186 $546,361.98 $1,680.82 $0.00 $3,089.21 $551,132.01
187 $551,132.01 $1,680.82 $0.00 $3,116.18 $555,929.01
188 $555,929.01 $1,680.82 $0.00 $3,143.30 $560,753.13
189 $560,753.13 $1,680.82 $0.00 $3,170.58 $565,604.53
190 $565,604.53 $1,680.82 $0.00 $3,198.01 $570,483.36
191 $570,483.36 $1,680.82 $0.00 $3,225.60 $575,389.78
192 $575,389.78 $1,680.82 $0.00 $3,253.34 $580,323.94
193 $580,323.94 $1,680.82 $0.00 $3,281.24 $585,286.00
194 $585,286.00 $1,680.82 $0.00 $3,309.29 $590,276.11
195 $590,276.11 $1,680.82 $0.00 $3,337.51 $595,294.44
196 $595,294.44 $1,680.82 $0.00 $3,365.88 $600,341.14
197 $600,341.14 $1,680.82 $0.00 $3,394.42 $605,416.38
198 $605,416.38 $1,680.82 $0.00 $3,423.11 $610,520.31
199 $610,520.31 $1,680.82 $0.00 $3,451.97 $615,653.10
200 $615,653.10 $1,680.82 $0.00 $3,480.99 $620,814.91
201 $620,814.91 $1,680.82 $0.00 $3,510.18 $626,005.91
202 $626,005.91 $1,680.82 $0.00 $3,539.53 $631,226.26
203 $631,226.26 $1,680.82 $0.00 $3,569.05 $636,476.13
204 $636,476.13 $1,680.82 $0.00 $3,598.73 $641,755.68
205 $641,755.68 $1,680.82 $0.00 $3,628.58 $647,065.08
206 $647,065.08 $1,680.82 $0.00 $3,658.60 $652,404.50
207 $652,404.50 $1,680.82 $0.00 $3,688.79 $657,774.11
208 $657,774.11 $1,680.82 $0.00 $3,719.15 $663,174.08
209 $663,174.08 $1,680.82 $0.00 $3,749.68 $668,604.58
210 $668,604.58 $1,680.82 $0.00 $3,780.39 $674,065.79
211 $674,065.79 $1,680.82 $0.00 $3,811.27 $679,557.88
212 $679,557.88 $1,680.82 $0.00 $3,842.32 $685,081.02
213 $685,081.02 $1,680.82 $0.00 $3,873.55 $690,635.39
214 $690,635.39 $1,680.82 $0.00 $3,904.95 $696,221.16
215 $696,221.16 $1,680.82 $0.00 $3,936.54 $701,838.52
216 $701,838.52 $1,680.82 $0.00 $3,968.30 $707,487.64
217 $707,487.64 $1,680.82 $191,601.60 $4,000.24 $521,567.10
218 $521,567.10 $1,680.82 $0.00 $2,949.02 $526,196.94
219 $526,196.94 $1,680.82 $0.00 $2,975.19 $530,852.95
220 $530,852.95 $1,680.82 $0.00 $3,001.52 $535,535.29
221 $535,535.29 $1,680.82 $0.00 $3,027.99 $540,244.10
222 $540,244.10 $1,680.82 $0.00 $3,054.62 $544,979.54
223 $544,979.54 $1,680.82 $0.00 $3,081.39 $549,741.75
224 $549,741.75 $1,680.82 $0.00 $3,108.32 $554,530.89
225 $554,530.89 $1,680.82 $0.00 $3,135.40 $559,347.11
226 $559,347.11 $1,680.82 $0.00 $3,162.63 $564,190.56
227 $564,190.56 $1,680.82 $0.00 $3,190.02 $569,061.40
228 $569,061.40 $1,680.82 $0.00 $3,217.56 $573,959.78
229 $573,959.78 $1,680.82 $205,013.71 $3,245.25 $373,872.14
230 $373,872.14 $1,680.82 $0.00 $2,113.93 $377,666.89
231 $377,666.89 $1,680.82 $0.00 $2,135.38 $381,483.09
232 $381,483.09 $1,680.82 $0.00 $2,156.96 $385,320.87
233 $385,320.87 $1,680.82 $0.00 $2,178.66 $389,180.35
234 $389,180.35 $1,680.82 $0.00 $2,200.48 $393,061.65
235 $393,061.65 $1,680.82 $0.00 $2,222.43 $396,964.90
236 $396,964.90 $1,680.82 $0.00 $2,244.50 $400,890.22
237 $400,890.22 $1,680.82 $0.00 $2,266.69 $404,837.73
238 $404,837.73 $1,680.82 $0.00 $2,289.01 $408,807.56
239 $408,807.56 $1,680.82 $0.00 $2,311.46 $412,799.84
240 $412,799.84 $1,680.82 $0.00 $2,334.03 $416,814.69
241 $416,814.69 $1,680.82 $219,364.67 $2,356.73 $201,487.57
242 $201,487.57 $1,680.82 $0.00 $1,139.24 $204,307.63
243 $204,307.63 $1,680.82 $0.00 $1,155.19 $207,143.64
244 $207,143.64 $1,680.82 $0.00 $1,171.22 $209,995.68
245 $209,995.68 $1,680.82 $0.00 $1,187.35 $212,863.85
246 $212,863.85 $1,680.82 $0.00 $1,203.56 $215,748.23
247 $215,748.23 $1,680.82 $0.00 $1,219.87 $218,648.92
248 $218,648.92 $1,680.82 $0.00 $1,236.27 $221,566.01
249 $221,566.01 $1,680.82 $0.00 $1,252.77 $224,499.60
250 $224,499.60 $1,680.82 $0.00 $1,269.35 $227,449.77
251 $227,449.77 $1,680.82 $0.00 $1,286.03 $230,416.62
252 $230,416.62 $1,680.82 $0.00 $1,302.81 $233,400.25
253 $233,400.25 $0.00 $234,720.20 $1,319.68 -$0.27