Savings Plan and Future Cost Estimation for Alabama A & M University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2039$62,118
Monthly savings required$492

How much will it cost to send your child to Alabama A & M University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $248,470.76 for students enrolling in 2039 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $491.71 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$23,954.00
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 $491.71 $0.00 $0.00 $491.71
2 $491.71 $491.71 $0.00 $2.78 $986.20
3 $986.20 $491.71 $0.00 $5.58 $1,483.49
4 $1,483.49 $491.71 $0.00 $8.39 $1,983.59
5 $1,983.59 $491.71 $0.00 $11.22 $2,486.52
6 $2,486.52 $491.71 $0.00 $14.06 $2,992.29
7 $2,992.29 $491.71 $0.00 $16.92 $3,500.92
8 $3,500.92 $491.71 $0.00 $19.79 $4,012.42
9 $4,012.42 $491.71 $0.00 $22.69 $4,526.82
10 $4,526.82 $491.71 $0.00 $25.60 $5,044.13
11 $5,044.13 $491.71 $0.00 $28.52 $5,564.36
12 $5,564.36 $491.71 $0.00 $31.46 $6,087.53
13 $6,087.53 $491.71 $0.00 $34.42 $6,613.66
14 $6,613.66 $491.71 $0.00 $37.39 $7,142.76
15 $7,142.76 $491.71 $0.00 $40.39 $7,674.86
16 $7,674.86 $491.71 $0.00 $43.39 $8,209.96
17 $8,209.96 $491.71 $0.00 $46.42 $8,748.09
18 $8,748.09 $491.71 $0.00 $49.46 $9,289.26
19 $9,289.26 $491.71 $0.00 $52.52 $9,833.49
20 $9,833.49 $491.71 $0.00 $55.60 $10,380.80
21 $10,380.80 $491.71 $0.00 $58.69 $10,931.20
22 $10,931.20 $491.71 $0.00 $61.81 $11,484.72
23 $11,484.72 $491.71 $0.00 $64.94 $12,041.37
24 $12,041.37 $491.71 $0.00 $68.08 $12,601.16
25 $12,601.16 $491.71 $0.00 $71.25 $13,164.12
26 $13,164.12 $491.71 $0.00 $74.43 $13,730.26
27 $13,730.26 $491.71 $0.00 $77.63 $14,299.60
28 $14,299.60 $491.71 $0.00 $80.85 $14,872.16
29 $14,872.16 $491.71 $0.00 $84.09 $15,447.96
30 $15,447.96 $491.71 $0.00 $87.35 $16,027.02
31 $16,027.02 $491.71 $0.00 $90.62 $16,609.35
32 $16,609.35 $491.71 $0.00 $93.91 $17,194.97
33 $17,194.97 $491.71 $0.00 $97.22 $17,783.90
34 $17,783.90 $491.71 $0.00 $100.55 $18,376.16
35 $18,376.16 $491.71 $0.00 $103.90 $18,971.77
36 $18,971.77 $491.71 $0.00 $107.27 $19,570.75
37 $19,570.75 $491.71 $0.00 $110.66 $20,173.12
38 $20,173.12 $491.71 $0.00 $114.06 $20,778.89
39 $20,778.89 $491.71 $0.00 $117.49 $21,388.09
40 $21,388.09 $491.71 $0.00 $120.93 $22,000.73
41 $22,000.73 $491.71 $0.00 $124.40 $22,616.84
42 $22,616.84 $491.71 $0.00 $127.88 $23,236.43
43 $23,236.43 $491.71 $0.00 $131.38 $23,859.52
44 $23,859.52 $491.71 $0.00 $134.91 $24,486.14
45 $24,486.14 $491.71 $0.00 $138.45 $25,116.30
46 $25,116.30 $491.71 $0.00 $142.01 $25,750.02
47 $25,750.02 $491.71 $0.00 $145.59 $26,387.32
48 $26,387.32 $491.71 $0.00 $149.20 $27,028.23
49 $27,028.23 $491.71 $0.00 $152.82 $27,672.76
50 $27,672.76 $491.71 $0.00 $156.47 $28,320.94
51 $28,320.94 $491.71 $0.00 $160.13 $28,972.78
52 $28,972.78 $491.71 $0.00 $163.82 $29,628.31
53 $29,628.31 $491.71 $0.00 $167.52 $30,287.54
54 $30,287.54 $491.71 $0.00 $171.25 $30,950.50
55 $30,950.50 $491.71 $0.00 $175.00 $31,617.21
56 $31,617.21 $491.71 $0.00 $178.77 $32,287.69
57 $32,287.69 $491.71 $0.00 $182.56 $32,961.96
58 $32,961.96 $491.71 $0.00 $186.37 $33,640.04
59 $33,640.04 $491.71 $0.00 $190.21 $34,321.96
60 $34,321.96 $491.71 $0.00 $194.06 $35,007.73
61 $35,007.73 $491.71 $0.00 $197.94 $35,697.38
62 $35,697.38 $491.71 $0.00 $201.84 $36,390.93
63 $36,390.93 $491.71 $0.00 $205.76 $37,088.40
64 $37,088.40 $491.71 $0.00 $209.70 $37,789.81
65 $37,789.81 $491.71 $0.00 $213.67 $38,495.19
66 $38,495.19 $491.71 $0.00 $217.66 $39,204.56
67 $39,204.56 $491.71 $0.00 $221.67 $39,917.94
68 $39,917.94 $491.71 $0.00 $225.70 $40,635.35
69 $40,635.35 $491.71 $0.00 $229.76 $41,356.82
70 $41,356.82 $491.71 $0.00 $233.84 $42,082.37
71 $42,082.37 $491.71 $0.00 $237.94 $42,812.02
72 $42,812.02 $491.71 $0.00 $242.07 $43,545.80
73 $43,545.80 $491.71 $0.00 $246.21 $44,283.72
74 $44,283.72 $491.71 $0.00 $250.39 $45,025.82
75 $45,025.82 $491.71 $0.00 $254.58 $45,772.11
76 $45,772.11 $491.71 $0.00 $258.80 $46,522.62
77 $46,522.62 $491.71 $0.00 $263.05 $47,277.38
78 $47,277.38 $491.71 $0.00 $267.31 $48,036.40
79 $48,036.40 $491.71 $0.00 $271.60 $48,799.71
80 $48,799.71 $491.71 $0.00 $275.92 $49,567.34
81 $49,567.34 $491.71 $0.00 $280.26 $50,339.31
82 $50,339.31 $491.71 $0.00 $284.63 $51,115.65
83 $51,115.65 $491.71 $0.00 $289.02 $51,896.38
84 $51,896.38 $491.71 $0.00 $293.43 $52,681.52
85 $52,681.52 $491.71 $0.00 $297.87 $53,471.10
86 $53,471.10 $491.71 $0.00 $302.33 $54,265.14
87 $54,265.14 $491.71 $0.00 $306.82 $55,063.67
88 $55,063.67 $491.71 $0.00 $311.34 $55,866.72
89 $55,866.72 $491.71 $0.00 $315.88 $56,674.31
90 $56,674.31 $491.71 $0.00 $320.44 $57,486.46
91 $57,486.46 $491.71 $0.00 $325.04 $58,303.21
92 $58,303.21 $491.71 $0.00 $329.65 $59,124.57
93 $59,124.57 $491.71 $0.00 $334.30 $59,950.58
94 $59,950.58 $491.71 $0.00 $338.97 $60,781.26
95 $60,781.26 $491.71 $0.00 $343.67 $61,616.64
96 $61,616.64 $491.71 $0.00 $348.39 $62,456.74
97 $62,456.74 $491.71 $0.00 $353.14 $63,301.59
98 $63,301.59 $491.71 $0.00 $357.92 $64,151.22
99 $64,151.22 $491.71 $0.00 $362.72 $65,005.65
100 $65,005.65 $491.71 $0.00 $367.55 $65,864.91
101 $65,864.91 $491.71 $0.00 $372.41 $66,729.03
102 $66,729.03 $491.71 $0.00 $377.30 $67,598.04
103 $67,598.04 $491.71 $0.00 $382.21 $68,471.96
104 $68,471.96 $491.71 $0.00 $387.15 $69,350.82
105 $69,350.82 $491.71 $0.00 $392.12 $70,234.65
106 $70,234.65 $491.71 $0.00 $397.12 $71,123.48
107 $71,123.48 $491.71 $0.00 $402.14 $72,017.33
108 $72,017.33 $491.71 $0.00 $407.20 $72,916.24
109 $72,916.24 $491.71 $0.00 $412.28 $73,820.23
110 $73,820.23 $491.71 $0.00 $417.39 $74,729.33
111 $74,729.33 $491.71 $0.00 $422.53 $75,643.57
112 $75,643.57 $491.71 $0.00 $427.70 $76,562.98
113 $76,562.98 $491.71 $0.00 $432.90 $77,487.59
114 $77,487.59 $491.71 $0.00 $438.13 $78,417.43
115 $78,417.43 $491.71 $0.00 $443.38 $79,352.52
116 $79,352.52 $491.71 $0.00 $448.67 $80,292.90
117 $80,292.90 $491.71 $0.00 $453.99 $81,238.60
118 $81,238.60 $491.71 $0.00 $459.33 $82,189.64
119 $82,189.64 $491.71 $0.00 $464.71 $83,146.06
120 $83,146.06 $491.71 $0.00 $470.12 $84,107.89
121 $84,107.89 $491.71 $0.00 $475.56 $85,075.16
122 $85,075.16 $491.71 $0.00 $481.03 $86,047.90
123 $86,047.90 $491.71 $0.00 $486.53 $87,026.14
124 $87,026.14 $491.71 $0.00 $492.06 $88,009.91
125 $88,009.91 $491.71 $0.00 $497.62 $88,999.24
126 $88,999.24 $491.71 $0.00 $503.21 $89,994.16
127 $89,994.16 $491.71 $0.00 $508.84 $90,994.71
128 $90,994.71 $491.71 $0.00 $514.50 $92,000.92
129 $92,000.92 $491.71 $0.00 $520.19 $93,012.82
130 $93,012.82 $491.71 $0.00 $525.91 $94,030.44
131 $94,030.44 $491.71 $0.00 $531.66 $95,053.81
132 $95,053.81 $491.71 $0.00 $537.45 $96,082.97
133 $96,082.97 $491.71 $0.00 $543.27 $97,117.95
134 $97,117.95 $491.71 $0.00 $549.12 $98,158.78
135 $98,158.78 $491.71 $0.00 $555.00 $99,205.49
136 $99,205.49 $491.71 $0.00 $560.92 $100,258.12
137 $100,258.12 $491.71 $0.00 $566.87 $101,316.70
138 $101,316.70 $491.71 $0.00 $572.86 $102,381.27
139 $102,381.27 $491.71 $0.00 $578.88 $103,451.86
140 $103,451.86 $491.71 $0.00 $584.93 $104,528.50
141 $104,528.50 $491.71 $0.00 $591.02 $105,611.23
142 $105,611.23 $491.71 $0.00 $597.14 $106,700.08
143 $106,700.08 $491.71 $0.00 $603.30 $107,795.09
144 $107,795.09 $491.71 $0.00 $609.49 $108,896.29
145 $108,896.29 $491.71 $0.00 $615.72 $110,003.72
146 $110,003.72 $491.71 $0.00 $621.98 $111,117.41
147 $111,117.41 $491.71 $0.00 $628.27 $112,237.39
148 $112,237.39 $491.71 $0.00 $634.61 $113,363.71
149 $113,363.71 $491.71 $0.00 $640.97 $114,496.39
150 $114,496.39 $491.71 $0.00 $647.38 $115,635.48
151 $115,635.48 $491.71 $0.00 $653.82 $116,781.01
152 $116,781.01 $491.71 $0.00 $660.30 $117,933.02
153 $117,933.02 $491.71 $0.00 $666.81 $119,091.54
154 $119,091.54 $491.71 $0.00 $673.36 $120,256.61
155 $120,256.61 $491.71 $0.00 $679.95 $121,428.27
156 $121,428.27 $491.71 $0.00 $686.57 $122,606.55
157 $122,606.55 $491.71 $0.00 $693.24 $123,791.50
158 $123,791.50 $491.71 $0.00 $699.94 $124,983.15
159 $124,983.15 $491.71 $0.00 $706.67 $126,181.53
160 $126,181.53 $491.71 $0.00 $713.45 $127,386.69
161 $127,386.69 $491.71 $0.00 $720.26 $128,598.66
162 $128,598.66 $491.71 $0.00 $727.12 $129,817.49
163 $129,817.49 $491.71 $0.00 $734.01 $131,043.21
164 $131,043.21 $491.71 $0.00 $740.94 $132,275.86
165 $132,275.86 $491.71 $0.00 $747.91 $133,515.48
166 $133,515.48 $491.71 $0.00 $754.92 $134,762.11
167 $134,762.11 $491.71 $0.00 $761.96 $136,015.78
168 $136,015.78 $491.71 $0.00 $769.05 $137,276.54
169 $137,276.54 $491.71 $0.00 $776.18 $138,544.43
170 $138,544.43 $491.71 $0.00 $783.35 $139,819.49
171 $139,819.49 $491.71 $0.00 $790.56 $141,101.76
172 $141,101.76 $491.71 $0.00 $797.81 $142,391.28
173 $142,391.28 $491.71 $0.00 $805.10 $143,688.09
174 $143,688.09 $491.71 $0.00 $812.43 $144,992.23
175 $144,992.23 $491.71 $0.00 $819.81 $146,303.75
176 $146,303.75 $491.71 $0.00 $827.22 $147,622.68
177 $147,622.68 $491.71 $0.00 $834.68 $148,949.07
178 $148,949.07 $491.71 $0.00 $842.18 $150,282.96
179 $150,282.96 $491.71 $0.00 $849.72 $151,624.39
180 $151,624.39 $491.71 $0.00 $857.31 $152,973.41
181 $152,973.41 $491.71 $0.00 $864.93 $154,330.05
182 $154,330.05 $491.71 $0.00 $872.60 $155,694.36
183 $155,694.36 $491.71 $0.00 $880.32 $157,066.39
184 $157,066.39 $491.71 $0.00 $888.08 $158,446.18
185 $158,446.18 $491.71 $0.00 $895.88 $159,833.77
186 $159,833.77 $491.71 $0.00 $903.72 $161,229.20
187 $161,229.20 $491.71 $0.00 $911.61 $162,632.52
188 $162,632.52 $491.71 $0.00 $919.55 $164,043.78
189 $164,043.78 $491.71 $0.00 $927.53 $165,463.02
190 $165,463.02 $491.71 $0.00 $935.55 $166,890.28
191 $166,890.28 $491.71 $0.00 $943.62 $168,325.61
192 $168,325.61 $491.71 $0.00 $951.74 $169,769.06
193 $169,769.06 $491.71 $0.00 $959.90 $171,220.67
194 $171,220.67 $491.71 $0.00 $968.11 $172,680.49
195 $172,680.49 $491.71 $0.00 $976.36 $174,148.56
196 $174,148.56 $491.71 $0.00 $984.66 $175,624.93
197 $175,624.93 $491.71 $0.00 $993.01 $177,109.65
198 $177,109.65 $491.71 $0.00 $1,001.40 $178,602.76
199 $178,602.76 $491.71 $0.00 $1,009.85 $180,104.32
200 $180,104.32 $491.71 $0.00 $1,018.34 $181,614.37
201 $181,614.37 $491.71 $0.00 $1,026.87 $183,132.95
202 $183,132.95 $491.71 $0.00 $1,035.46 $184,660.12
203 $184,660.12 $491.71 $0.00 $1,044.10 $186,195.93
204 $186,195.93 $491.71 $0.00 $1,052.78 $187,740.42
205 $187,740.42 $491.71 $0.00 $1,061.51 $189,293.64
206 $189,293.64 $491.71 $0.00 $1,070.29 $190,855.64
207 $190,855.64 $491.71 $0.00 $1,079.13 $192,426.48
208 $192,426.48 $491.71 $0.00 $1,088.01 $194,006.20
209 $194,006.20 $491.71 $0.00 $1,096.94 $195,594.85
210 $195,594.85 $491.71 $0.00 $1,105.92 $197,192.48
211 $197,192.48 $491.71 $0.00 $1,114.95 $198,799.14
212 $198,799.14 $491.71 $0.00 $1,124.04 $200,414.89
213 $200,414.89 $491.71 $0.00 $1,133.17 $202,039.77
214 $202,039.77 $491.71 $0.00 $1,142.36 $203,673.84
215 $203,673.84 $491.71 $0.00 $1,151.60 $205,317.15
216 $205,317.15 $491.71 $0.00 $1,160.89 $206,969.75
217 $206,969.75 $491.71 $57,648.16 $1,170.24 $150,983.54
218 $150,983.54 $491.71 $0.00 $853.68 $152,328.93
219 $152,328.93 $491.71 $0.00 $861.29 $153,681.93
220 $153,681.93 $491.71 $0.00 $868.94 $155,042.58
221 $155,042.58 $491.71 $0.00 $876.63 $156,410.92
222 $156,410.92 $491.71 $0.00 $884.37 $157,787.00
223 $157,787.00 $491.71 $0.00 $892.15 $159,170.86
224 $159,170.86 $491.71 $0.00 $899.98 $160,562.55
225 $160,562.55 $491.71 $0.00 $907.84 $161,962.10
226 $161,962.10 $491.71 $0.00 $915.76 $163,369.57
227 $163,369.57 $491.71 $0.00 $923.72 $164,785.00
228 $164,785.00 $491.71 $0.00 $931.72 $166,208.43
229 $166,208.43 $491.71 $60,530.56 $939.77 $107,109.35
230 $107,109.35 $491.71 $0.00 $605.61 $108,206.67
231 $108,206.67 $491.71 $0.00 $611.82 $109,310.20
232 $109,310.20 $491.71 $0.00 $618.06 $110,419.97
233 $110,419.97 $491.71 $0.00 $624.33 $111,536.01
234 $111,536.01 $491.71 $0.00 $630.64 $112,658.36
235 $112,658.36 $491.71 $0.00 $636.99 $113,787.06
236 $113,787.06 $491.71 $0.00 $643.37 $114,922.14
237 $114,922.14 $491.71 $0.00 $649.79 $116,063.64
238 $116,063.64 $491.71 $0.00 $656.24 $117,211.59
239 $117,211.59 $491.71 $0.00 $662.73 $118,366.03
240 $118,366.03 $491.71 $0.00 $669.26 $119,527.00
241 $119,527.00 $491.71 $63,557.09 $675.82 $57,137.44
242 $57,137.44 $491.71 $0.00 $323.06 $57,952.21
243 $57,952.21 $491.71 $0.00 $327.67 $58,771.59
244 $58,771.59 $491.71 $0.00 $332.30 $59,595.60
245 $59,595.60 $491.71 $0.00 $336.96 $60,424.27
246 $60,424.27 $491.71 $0.00 $341.65 $61,257.63
247 $61,257.63 $491.71 $0.00 $346.36 $62,095.70
248 $62,095.70 $491.71 $0.00 $351.10 $62,938.51
249 $62,938.51 $491.71 $0.00 $355.86 $63,786.08
250 $63,786.08 $491.71 $0.00 $360.66 $64,638.45
251 $64,638.45 $491.71 $0.00 $365.48 $65,495.64
252 $65,495.64 $491.71 $0.00 $370.32 $66,357.67
253 $66,357.67 $0.00 $66,734.95 $375.20 ($2.08)