Savings Plan and Future Cost Estimation for Howard Payne University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$170,559
Monthly savings required$1,348

How much will it cost to send your child to Howard Payne University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $682,234.90 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,347.96 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$45,462.00
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 $1,347.96 $0.00 $0.00 $1,347.96
2 $1,347.96 $1,347.96 $0.00 $7.62 $2,703.54
3 $2,703.54 $1,347.96 $0.00 $15.29 $4,066.79
4 $4,066.79 $1,347.96 $0.00 $22.99 $5,437.74
5 $5,437.74 $1,347.96 $0.00 $30.75 $6,816.45
6 $6,816.45 $1,347.96 $0.00 $38.54 $8,202.95
7 $8,202.95 $1,347.96 $0.00 $46.38 $9,597.29
8 $9,597.29 $1,347.96 $0.00 $54.26 $10,999.51
9 $10,999.51 $1,347.96 $0.00 $62.19 $12,409.66
10 $12,409.66 $1,347.96 $0.00 $70.17 $13,827.79
11 $13,827.79 $1,347.96 $0.00 $78.18 $15,253.93
12 $15,253.93 $1,347.96 $0.00 $86.25 $16,688.14
13 $16,688.14 $1,347.96 $0.00 $94.36 $18,130.46
14 $18,130.46 $1,347.96 $0.00 $102.51 $19,580.93
15 $19,580.93 $1,347.96 $0.00 $110.71 $21,039.60
16 $21,039.60 $1,347.96 $0.00 $118.96 $22,506.52
17 $22,506.52 $1,347.96 $0.00 $127.26 $23,981.74
18 $23,981.74 $1,347.96 $0.00 $135.60 $25,465.30
19 $25,465.30 $1,347.96 $0.00 $143.98 $26,957.24
20 $26,957.24 $1,347.96 $0.00 $152.42 $28,457.62
21 $28,457.62 $1,347.96 $0.00 $160.90 $29,966.48
22 $29,966.48 $1,347.96 $0.00 $169.43 $31,483.87
23 $31,483.87 $1,347.96 $0.00 $178.01 $33,009.84
24 $33,009.84 $1,347.96 $0.00 $186.64 $34,544.44
25 $34,544.44 $1,347.96 $0.00 $195.32 $36,087.72
26 $36,087.72 $1,347.96 $0.00 $204.05 $37,639.73
27 $37,639.73 $1,347.96 $0.00 $212.82 $39,200.51
28 $39,200.51 $1,347.96 $0.00 $221.65 $40,770.12
29 $40,770.12 $1,347.96 $0.00 $230.52 $42,348.60
30 $42,348.60 $1,347.96 $0.00 $239.45 $43,936.01
31 $43,936.01 $1,347.96 $0.00 $248.42 $45,532.39
32 $45,532.39 $1,347.96 $0.00 $257.45 $47,137.80
33 $47,137.80 $1,347.96 $0.00 $266.52 $48,752.28
34 $48,752.28 $1,347.96 $0.00 $275.65 $50,375.89
35 $50,375.89 $1,347.96 $0.00 $284.83 $52,008.68
36 $52,008.68 $1,347.96 $0.00 $294.06 $53,650.70
37 $53,650.70 $1,347.96 $0.00 $303.35 $55,302.01
38 $55,302.01 $1,347.96 $0.00 $312.69 $56,962.66
39 $56,962.66 $1,347.96 $0.00 $322.08 $58,632.70
40 $58,632.70 $1,347.96 $0.00 $331.52 $60,312.18
41 $60,312.18 $1,347.96 $0.00 $341.01 $62,001.15
42 $62,001.15 $1,347.96 $0.00 $350.56 $63,699.67
43 $63,699.67 $1,347.96 $0.00 $360.17 $65,407.80
44 $65,407.80 $1,347.96 $0.00 $369.83 $67,125.59
45 $67,125.59 $1,347.96 $0.00 $379.54 $68,853.09
46 $68,853.09 $1,347.96 $0.00 $389.31 $70,590.36
47 $70,590.36 $1,347.96 $0.00 $399.13 $72,337.45
48 $72,337.45 $1,347.96 $0.00 $409.01 $74,094.42
49 $74,094.42 $1,347.96 $0.00 $418.94 $75,861.32
50 $75,861.32 $1,347.96 $0.00 $428.93 $77,638.21
51 $77,638.21 $1,347.96 $0.00 $438.98 $79,425.15
52 $79,425.15 $1,347.96 $0.00 $449.08 $81,222.19
53 $81,222.19 $1,347.96 $0.00 $459.24 $83,029.39
54 $83,029.39 $1,347.96 $0.00 $469.46 $84,846.81
55 $84,846.81 $1,347.96 $0.00 $479.74 $86,674.51
56 $86,674.51 $1,347.96 $0.00 $490.07 $88,512.54
57 $88,512.54 $1,347.96 $0.00 $500.46 $90,360.96
58 $90,360.96 $1,347.96 $0.00 $510.91 $92,219.83
59 $92,219.83 $1,347.96 $0.00 $521.42 $94,089.21
60 $94,089.21 $1,347.96 $0.00 $531.99 $95,969.16
61 $95,969.16 $1,347.96 $0.00 $542.62 $97,859.74
62 $97,859.74 $1,347.96 $0.00 $553.31 $99,761.01
63 $99,761.01 $1,347.96 $0.00 $564.06 $101,673.03
64 $101,673.03 $1,347.96 $0.00 $574.87 $103,595.86
65 $103,595.86 $1,347.96 $0.00 $585.75 $105,529.57
66 $105,529.57 $1,347.96 $0.00 $596.68 $107,474.21
67 $107,474.21 $1,347.96 $0.00 $607.67 $109,429.84
68 $109,429.84 $1,347.96 $0.00 $618.73 $111,396.53
69 $111,396.53 $1,347.96 $0.00 $629.85 $113,374.34
70 $113,374.34 $1,347.96 $0.00 $641.04 $115,363.34
71 $115,363.34 $1,347.96 $0.00 $652.28 $117,363.58
72 $117,363.58 $1,347.96 $0.00 $663.59 $119,375.13
73 $119,375.13 $1,347.96 $0.00 $674.96 $121,398.05
74 $121,398.05 $1,347.96 $0.00 $686.40 $123,432.41
75 $123,432.41 $1,347.96 $0.00 $697.90 $125,478.27
76 $125,478.27 $1,347.96 $0.00 $709.47 $127,535.70
77 $127,535.70 $1,347.96 $0.00 $721.11 $129,604.77
78 $129,604.77 $1,347.96 $0.00 $732.80 $131,685.53
79 $131,685.53 $1,347.96 $0.00 $744.57 $133,778.06
80 $133,778.06 $1,347.96 $0.00 $756.40 $135,882.42
81 $135,882.42 $1,347.96 $0.00 $768.30 $137,998.68
82 $137,998.68 $1,347.96 $0.00 $780.26 $140,126.90
83 $140,126.90 $1,347.96 $0.00 $792.30 $142,267.16
84 $142,267.16 $1,347.96 $0.00 $804.40 $144,419.52
85 $144,419.52 $1,347.96 $0.00 $816.57 $146,584.05
86 $146,584.05 $1,347.96 $0.00 $828.81 $148,760.82
87 $148,760.82 $1,347.96 $0.00 $841.12 $150,949.90
88 $150,949.90 $1,347.96 $0.00 $853.49 $153,151.35
89 $153,151.35 $1,347.96 $0.00 $865.94 $155,365.25
90 $155,365.25 $1,347.96 $0.00 $878.46 $157,591.67
91 $157,591.67 $1,347.96 $0.00 $891.05 $159,830.68
92 $159,830.68 $1,347.96 $0.00 $903.71 $162,082.35
93 $162,082.35 $1,347.96 $0.00 $916.44 $164,346.75
94 $164,346.75 $1,347.96 $0.00 $929.24 $166,623.95
95 $166,623.95 $1,347.96 $0.00 $942.12 $168,914.03
96 $168,914.03 $1,347.96 $0.00 $955.06 $171,217.05
97 $171,217.05 $1,347.96 $0.00 $968.09 $173,533.10
98 $173,533.10 $1,347.96 $0.00 $981.18 $175,862.24
99 $175,862.24 $1,347.96 $0.00 $994.35 $178,204.55
100 $178,204.55 $1,347.96 $0.00 $1,007.59 $180,560.10
101 $180,560.10 $1,347.96 $0.00 $1,020.91 $182,928.97
102 $182,928.97 $1,347.96 $0.00 $1,034.31 $185,311.24
103 $185,311.24 $1,347.96 $0.00 $1,047.78 $187,706.98
104 $187,706.98 $1,347.96 $0.00 $1,061.32 $190,116.26
105 $190,116.26 $1,347.96 $0.00 $1,074.94 $192,539.16
106 $192,539.16 $1,347.96 $0.00 $1,088.64 $194,975.76
107 $194,975.76 $1,347.96 $0.00 $1,102.42 $197,426.14
108 $197,426.14 $1,347.96 $0.00 $1,116.28 $199,890.38
109 $199,890.38 $1,347.96 $0.00 $1,130.21 $202,368.55
110 $202,368.55 $1,347.96 $0.00 $1,144.22 $204,860.73
111 $204,860.73 $1,347.96 $0.00 $1,158.31 $207,367.00
112 $207,367.00 $1,347.96 $0.00 $1,172.48 $209,887.44
113 $209,887.44 $1,347.96 $0.00 $1,186.73 $212,422.13
114 $212,422.13 $1,347.96 $0.00 $1,201.07 $214,971.16
115 $214,971.16 $1,347.96 $0.00 $1,215.48 $217,534.60
116 $217,534.60 $1,347.96 $0.00 $1,229.97 $220,112.53
117 $220,112.53 $1,347.96 $0.00 $1,244.55 $222,705.04
118 $222,705.04 $1,347.96 $0.00 $1,259.21 $225,312.21
119 $225,312.21 $1,347.96 $0.00 $1,273.95 $227,934.12
120 $227,934.12 $1,347.96 $0.00 $1,288.77 $230,570.85
121 $230,570.85 $1,347.96 $0.00 $1,303.68 $233,222.49
122 $233,222.49 $1,347.96 $0.00 $1,318.67 $235,889.12
123 $235,889.12 $1,347.96 $0.00 $1,333.75 $238,570.83
124 $238,570.83 $1,347.96 $0.00 $1,348.91 $241,267.70
125 $241,267.70 $1,347.96 $0.00 $1,364.16 $243,979.82
126 $243,979.82 $1,347.96 $0.00 $1,379.50 $246,707.28
127 $246,707.28 $1,347.96 $0.00 $1,394.92 $249,450.16
128 $249,450.16 $1,347.96 $0.00 $1,410.43 $252,208.55
129 $252,208.55 $1,347.96 $0.00 $1,426.02 $254,982.53
130 $254,982.53 $1,347.96 $0.00 $1,441.71 $257,772.20
131 $257,772.20 $1,347.96 $0.00 $1,457.48 $260,577.64
132 $260,577.64 $1,347.96 $0.00 $1,473.34 $263,398.94
133 $263,398.94 $1,347.96 $0.00 $1,489.30 $266,236.20
134 $266,236.20 $1,347.96 $0.00 $1,505.34 $269,089.50
135 $269,089.50 $1,347.96 $0.00 $1,521.47 $271,958.93
136 $271,958.93 $1,347.96 $0.00 $1,537.70 $274,844.59
137 $274,844.59 $1,347.96 $0.00 $1,554.01 $277,746.56
138 $277,746.56 $1,347.96 $0.00 $1,570.42 $280,664.94
139 $280,664.94 $1,347.96 $0.00 $1,586.92 $283,599.82
140 $283,599.82 $1,347.96 $0.00 $1,603.51 $286,551.29
141 $286,551.29 $1,347.96 $0.00 $1,620.20 $289,519.45
142 $289,519.45 $1,347.96 $0.00 $1,636.99 $292,504.40
143 $292,504.40 $1,347.96 $0.00 $1,653.86 $295,506.22
144 $295,506.22 $1,347.96 $0.00 $1,670.84 $298,525.02
145 $298,525.02 $1,347.96 $0.00 $1,687.90 $301,560.88
146 $301,560.88 $1,347.96 $0.00 $1,705.07 $304,613.91
147 $304,613.91 $1,347.96 $0.00 $1,722.33 $307,684.20
148 $307,684.20 $1,347.96 $0.00 $1,739.69 $310,771.85
149 $310,771.85 $1,347.96 $0.00 $1,757.15 $313,876.96
150 $313,876.96 $1,347.96 $0.00 $1,774.71 $316,999.63
151 $316,999.63 $1,347.96 $0.00 $1,792.36 $320,139.95
152 $320,139.95 $1,347.96 $0.00 $1,810.12 $323,298.03
153 $323,298.03 $1,347.96 $0.00 $1,827.97 $326,473.96
154 $326,473.96 $1,347.96 $0.00 $1,845.93 $329,667.85
155 $329,667.85 $1,347.96 $0.00 $1,863.99 $332,879.80
156 $332,879.80 $1,347.96 $0.00 $1,882.15 $336,109.91
157 $336,109.91 $1,347.96 $0.00 $1,900.41 $339,358.28
158 $339,358.28 $1,347.96 $0.00 $1,918.78 $342,625.02
159 $342,625.02 $1,347.96 $0.00 $1,937.25 $345,910.23
160 $345,910.23 $1,347.96 $0.00 $1,955.83 $349,214.02
161 $349,214.02 $1,347.96 $0.00 $1,974.51 $352,536.49
162 $352,536.49 $1,347.96 $0.00 $1,993.29 $355,877.74
163 $355,877.74 $1,347.96 $0.00 $2,012.18 $359,237.88
164 $359,237.88 $1,347.96 $0.00 $2,031.18 $362,617.02
165 $362,617.02 $1,347.96 $0.00 $2,050.29 $366,015.27
166 $366,015.27 $1,347.96 $0.00 $2,069.50 $369,432.73
167 $369,432.73 $1,347.96 $0.00 $2,088.83 $372,869.52
168 $372,869.52 $1,347.96 $0.00 $2,108.26 $376,325.74
169 $376,325.74 $1,347.96 $0.00 $2,127.80 $379,801.50
170 $379,801.50 $1,347.96 $0.00 $2,147.45 $383,296.91
171 $383,296.91 $1,347.96 $0.00 $2,167.22 $386,812.09
172 $386,812.09 $1,347.96 $0.00 $2,187.09 $390,347.14
173 $390,347.14 $1,347.96 $0.00 $2,207.08 $393,902.18
174 $393,902.18 $1,347.96 $0.00 $2,227.18 $397,477.32
175 $397,477.32 $1,347.96 $0.00 $2,247.39 $401,072.67
176 $401,072.67 $1,347.96 $0.00 $2,267.72 $404,688.35
177 $404,688.35 $1,347.96 $0.00 $2,288.17 $408,324.48
178 $408,324.48 $1,347.96 $0.00 $2,308.73 $411,981.17
179 $411,981.17 $1,347.96 $0.00 $2,329.40 $415,658.53
180 $415,658.53 $1,347.96 $0.00 $2,350.19 $419,356.68
181 $419,356.68 $1,347.96 $0.00 $2,371.10 $423,075.74
182 $423,075.74 $1,347.96 $0.00 $2,392.13 $426,815.83
183 $426,815.83 $1,347.96 $0.00 $2,413.28 $430,577.07
184 $430,577.07 $1,347.96 $0.00 $2,434.55 $434,359.58
185 $434,359.58 $1,347.96 $0.00 $2,455.93 $438,163.47
186 $438,163.47 $1,347.96 $0.00 $2,477.44 $441,988.87
187 $441,988.87 $1,347.96 $0.00 $2,499.07 $445,835.90
188 $445,835.90 $1,347.96 $0.00 $2,520.82 $449,704.68
189 $449,704.68 $1,347.96 $0.00 $2,542.70 $453,595.34
190 $453,595.34 $1,347.96 $0.00 $2,564.69 $457,507.99
191 $457,507.99 $1,347.96 $0.00 $2,586.82 $461,442.77
192 $461,442.77 $1,347.96 $0.00 $2,609.06 $465,399.79
193 $465,399.79 $1,347.96 $0.00 $2,631.44 $469,379.19
194 $469,379.19 $1,347.96 $0.00 $2,653.94 $473,381.09
195 $473,381.09 $1,347.96 $0.00 $2,676.57 $477,405.62
196 $477,405.62 $1,347.96 $0.00 $2,699.32 $481,452.90
197 $481,452.90 $1,347.96 $0.00 $2,722.20 $485,523.06
198 $485,523.06 $1,347.96 $0.00 $2,745.22 $489,616.24
199 $489,616.24 $1,347.96 $0.00 $2,768.36 $493,732.56
200 $493,732.56 $1,347.96 $0.00 $2,791.64 $497,872.16
201 $497,872.16 $1,347.96 $0.00 $2,815.04 $502,035.16
202 $502,035.16 $1,347.96 $0.00 $2,838.58 $506,221.70
203 $506,221.70 $1,347.96 $0.00 $2,862.25 $510,431.91
204 $510,431.91 $1,347.96 $0.00 $2,886.06 $514,665.93
205 $514,665.93 $1,347.96 $0.00 $2,910.00 $518,923.89
206 $518,923.89 $1,347.96 $0.00 $2,934.07 $523,205.92
207 $523,205.92 $1,347.96 $0.00 $2,958.28 $527,512.16
208 $527,512.16 $1,347.96 $0.00 $2,982.63 $531,842.75
209 $531,842.75 $1,347.96 $0.00 $3,007.12 $536,197.83
210 $536,197.83 $1,347.96 $0.00 $3,031.74 $540,577.53
211 $540,577.53 $1,347.96 $0.00 $3,056.50 $544,981.99
212 $544,981.99 $1,347.96 $0.00 $3,081.41 $549,411.36
213 $549,411.36 $1,347.96 $0.00 $3,106.45 $553,865.77
214 $553,865.77 $1,347.96 $0.00 $3,131.64 $558,345.37
215 $558,345.37 $1,347.96 $0.00 $3,156.97 $562,850.30
216 $562,850.30 $1,347.96 $0.00 $3,182.44 $567,380.70
217 $567,380.70 $1,347.96 $153,658.48 $3,208.05 $418,278.23
218 $418,278.23 $1,347.96 $0.00 $2,365.01 $421,991.20
219 $421,991.20 $1,347.96 $0.00 $2,386.00 $425,725.16
220 $425,725.16 $1,347.96 $0.00 $2,407.11 $429,480.23
221 $429,480.23 $1,347.96 $0.00 $2,428.34 $433,256.53
222 $433,256.53 $1,347.96 $0.00 $2,449.70 $437,054.19
223 $437,054.19 $1,347.96 $0.00 $2,471.17 $440,873.32
224 $440,873.32 $1,347.96 $0.00 $2,492.76 $444,714.04
225 $444,714.04 $1,347.96 $0.00 $2,514.48 $448,576.48
226 $448,576.48 $1,347.96 $0.00 $2,536.32 $452,460.76
227 $452,460.76 $1,347.96 $0.00 $2,558.28 $456,367.00
228 $456,367.00 $1,347.96 $0.00 $2,580.37 $460,295.33
229 $460,295.33 $1,347.96 $164,414.57 $2,602.58 $299,831.30
230 $299,831.30 $1,347.96 $0.00 $1,695.29 $302,874.55
231 $302,874.55 $1,347.96 $0.00 $1,712.50 $305,935.01
232 $305,935.01 $1,347.96 $0.00 $1,729.80 $309,012.77
233 $309,012.77 $1,347.96 $0.00 $1,747.20 $312,107.93
234 $312,107.93 $1,347.96 $0.00 $1,764.70 $315,220.59
235 $315,220.59 $1,347.96 $0.00 $1,782.30 $318,350.85
236 $318,350.85 $1,347.96 $0.00 $1,800.00 $321,498.81
237 $321,498.81 $1,347.96 $0.00 $1,817.80 $324,664.57
238 $324,664.57 $1,347.96 $0.00 $1,835.70 $327,848.23
239 $327,848.23 $1,347.96 $0.00 $1,853.70 $331,049.89
240 $331,049.89 $1,347.96 $0.00 $1,871.80 $334,269.65
241 $334,269.65 $1,347.96 $175,923.60 $1,890.01 $161,584.02
242 $161,584.02 $1,347.96 $0.00 $913.62 $163,845.60
243 $163,845.60 $1,347.96 $0.00 $926.41 $166,119.97
244 $166,119.97 $1,347.96 $0.00 $939.27 $168,407.20
245 $168,407.20 $1,347.96 $0.00 $952.20 $170,707.36
246 $170,707.36 $1,347.96 $0.00 $965.20 $173,020.52
247 $173,020.52 $1,347.96 $0.00 $978.28 $175,346.76
248 $175,346.76 $1,347.96 $0.00 $991.44 $177,686.16
249 $177,686.16 $1,347.96 $0.00 $1,004.66 $180,038.78
250 $180,038.78 $1,347.96 $0.00 $1,017.97 $182,404.71
251 $182,404.71 $1,347.96 $0.00 $1,031.34 $184,784.01
252 $184,784.01 $1,347.96 $0.00 $1,044.80 $187,176.77
253 $187,176.77 $0.00 $188,238.25 $1,058.32 -$3.16