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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$57,336
Monthly savings required$454

How much will it cost to send your child to Alabama State University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $229,343.27 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $453.85 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$22,110.00
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 $453.85 $0.00 $0.00 $453.85
2 $453.85 $453.85 $0.00 $2.57 $910.27
3 $910.27 $453.85 $0.00 $5.15 $1,369.27
4 $1,369.27 $453.85 $0.00 $7.74 $1,830.86
5 $1,830.86 $453.85 $0.00 $10.35 $2,295.06
6 $2,295.06 $453.85 $0.00 $12.98 $2,761.89
7 $2,761.89 $453.85 $0.00 $15.62 $3,231.36
8 $3,231.36 $453.85 $0.00 $18.27 $3,703.48
9 $3,703.48 $453.85 $0.00 $20.94 $4,178.27
10 $4,178.27 $453.85 $0.00 $23.62 $4,655.74
11 $4,655.74 $453.85 $0.00 $26.32 $5,135.91
12 $5,135.91 $453.85 $0.00 $29.04 $5,618.80
13 $5,618.80 $453.85 $0.00 $31.77 $6,104.42
14 $6,104.42 $453.85 $0.00 $34.52 $6,592.79
15 $6,592.79 $453.85 $0.00 $37.28 $7,083.92
16 $7,083.92 $453.85 $0.00 $40.05 $7,577.82
17 $7,577.82 $453.85 $0.00 $42.85 $8,074.52
18 $8,074.52 $453.85 $0.00 $45.65 $8,574.02
19 $8,574.02 $453.85 $0.00 $48.48 $9,076.35
20 $9,076.35 $453.85 $0.00 $51.32 $9,581.52
21 $9,581.52 $453.85 $0.00 $54.18 $10,089.55
22 $10,089.55 $453.85 $0.00 $57.05 $10,600.45
23 $10,600.45 $453.85 $0.00 $59.94 $11,114.24
24 $11,114.24 $453.85 $0.00 $62.84 $11,630.93
25 $11,630.93 $453.85 $0.00 $65.76 $12,150.54
26 $12,150.54 $453.85 $0.00 $68.70 $12,673.09
27 $12,673.09 $453.85 $0.00 $71.66 $13,198.60
28 $13,198.60 $453.85 $0.00 $74.63 $13,727.08
29 $13,727.08 $453.85 $0.00 $77.61 $14,258.54
30 $14,258.54 $453.85 $0.00 $80.62 $14,793.01
31 $14,793.01 $453.85 $0.00 $83.64 $15,330.50
32 $15,330.50 $453.85 $0.00 $86.68 $15,871.03
33 $15,871.03 $453.85 $0.00 $89.74 $16,414.62
34 $16,414.62 $453.85 $0.00 $92.81 $16,961.28
35 $16,961.28 $453.85 $0.00 $95.90 $17,511.03
36 $17,511.03 $453.85 $0.00 $99.01 $18,063.89
37 $18,063.89 $453.85 $0.00 $102.14 $18,619.88
38 $18,619.88 $453.85 $0.00 $105.28 $19,179.01
39 $19,179.01 $453.85 $0.00 $108.44 $19,741.30
40 $19,741.30 $453.85 $0.00 $111.62 $20,306.77
41 $20,306.77 $453.85 $0.00 $114.82 $20,875.44
42 $20,875.44 $453.85 $0.00 $118.03 $21,447.32
43 $21,447.32 $453.85 $0.00 $121.27 $22,022.44
44 $22,022.44 $453.85 $0.00 $124.52 $22,600.81
45 $22,600.81 $453.85 $0.00 $127.79 $23,182.45
46 $23,182.45 $453.85 $0.00 $131.08 $23,767.38
47 $23,767.38 $453.85 $0.00 $134.38 $24,355.61
48 $24,355.61 $453.85 $0.00 $137.71 $24,947.17
49 $24,947.17 $453.85 $0.00 $141.05 $25,542.07
50 $25,542.07 $453.85 $0.00 $144.42 $26,140.34
51 $26,140.34 $453.85 $0.00 $147.80 $26,741.99
52 $26,741.99 $453.85 $0.00 $151.20 $27,347.04
53 $27,347.04 $453.85 $0.00 $154.62 $27,955.51
54 $27,955.51 $453.85 $0.00 $158.06 $28,567.42
55 $28,567.42 $453.85 $0.00 $161.52 $29,182.79
56 $29,182.79 $453.85 $0.00 $165.00 $29,801.64
57 $29,801.64 $453.85 $0.00 $168.50 $30,423.99
58 $30,423.99 $453.85 $0.00 $172.02 $31,049.86
59 $31,049.86 $453.85 $0.00 $175.56 $31,679.27
60 $31,679.27 $453.85 $0.00 $179.12 $32,312.24
61 $32,312.24 $453.85 $0.00 $182.70 $32,948.79
62 $32,948.79 $453.85 $0.00 $186.30 $33,588.94
63 $33,588.94 $453.85 $0.00 $189.92 $34,232.71
64 $34,232.71 $453.85 $0.00 $193.56 $34,880.12
65 $34,880.12 $453.85 $0.00 $197.22 $35,531.19
66 $35,531.19 $453.85 $0.00 $200.90 $36,185.94
67 $36,185.94 $453.85 $0.00 $204.60 $36,844.39
68 $36,844.39 $453.85 $0.00 $208.32 $37,506.56
69 $37,506.56 $453.85 $0.00 $212.07 $38,172.48
70 $38,172.48 $453.85 $0.00 $215.83 $38,842.16
71 $38,842.16 $453.85 $0.00 $219.62 $39,515.63
72 $39,515.63 $453.85 $0.00 $223.43 $40,192.91
73 $40,192.91 $453.85 $0.00 $227.26 $40,874.02
74 $40,874.02 $453.85 $0.00 $231.11 $41,558.98
75 $41,558.98 $453.85 $0.00 $234.98 $42,247.81
76 $42,247.81 $453.85 $0.00 $238.88 $42,940.54
77 $42,940.54 $453.85 $0.00 $242.79 $43,637.18
78 $43,637.18 $453.85 $0.00 $246.73 $44,337.76
79 $44,337.76 $453.85 $0.00 $250.69 $45,042.30
80 $45,042.30 $453.85 $0.00 $254.68 $45,750.83
81 $45,750.83 $453.85 $0.00 $258.68 $46,463.36
82 $46,463.36 $453.85 $0.00 $262.71 $47,179.92
83 $47,179.92 $453.85 $0.00 $266.76 $47,900.53
84 $47,900.53 $453.85 $0.00 $270.84 $48,625.22
85 $48,625.22 $453.85 $0.00 $274.93 $49,354.00
86 $49,354.00 $453.85 $0.00 $279.05 $50,086.90
87 $50,086.90 $453.85 $0.00 $283.20 $50,823.95
88 $50,823.95 $453.85 $0.00 $287.37 $51,565.17
89 $51,565.17 $453.85 $0.00 $291.56 $52,310.58
90 $52,310.58 $453.85 $0.00 $295.77 $53,060.20
91 $53,060.20 $453.85 $0.00 $300.01 $53,814.06
92 $53,814.06 $453.85 $0.00 $304.27 $54,572.18
93 $54,572.18 $453.85 $0.00 $308.56 $55,334.59
94 $55,334.59 $453.85 $0.00 $312.87 $56,101.31
95 $56,101.31 $453.85 $0.00 $317.20 $56,872.36
96 $56,872.36 $453.85 $0.00 $321.56 $57,647.77
97 $57,647.77 $453.85 $0.00 $325.95 $58,427.57
98 $58,427.57 $453.85 $0.00 $330.36 $59,211.78
99 $59,211.78 $453.85 $0.00 $334.79 $60,000.42
100 $60,000.42 $453.85 $0.00 $339.25 $60,793.52
101 $60,793.52 $453.85 $0.00 $343.74 $61,591.11
102 $61,591.11 $453.85 $0.00 $348.25 $62,393.21
103 $62,393.21 $453.85 $0.00 $352.78 $63,199.84
104 $63,199.84 $453.85 $0.00 $357.34 $64,011.03
105 $64,011.03 $453.85 $0.00 $361.93 $64,826.81
106 $64,826.81 $453.85 $0.00 $366.54 $65,647.20
107 $65,647.20 $453.85 $0.00 $371.18 $66,472.23
108 $66,472.23 $453.85 $0.00 $375.84 $67,301.92
109 $67,301.92 $453.85 $0.00 $380.53 $68,136.30
110 $68,136.30 $453.85 $0.00 $385.25 $68,975.40
111 $68,975.40 $453.85 $0.00 $390.00 $69,819.25
112 $69,819.25 $453.85 $0.00 $394.77 $70,667.87
113 $70,667.87 $453.85 $0.00 $399.57 $71,521.29
114 $71,521.29 $453.85 $0.00 $404.39 $72,379.53
115 $72,379.53 $453.85 $0.00 $409.24 $73,242.62
116 $73,242.62 $453.85 $0.00 $414.12 $74,110.59
117 $74,110.59 $453.85 $0.00 $419.03 $74,983.47
118 $74,983.47 $453.85 $0.00 $423.97 $75,861.29
119 $75,861.29 $453.85 $0.00 $428.93 $76,744.07
120 $76,744.07 $453.85 $0.00 $433.92 $77,631.84
121 $77,631.84 $453.85 $0.00 $438.94 $78,524.63
122 $78,524.63 $453.85 $0.00 $443.99 $79,422.47
123 $79,422.47 $453.85 $0.00 $449.07 $80,325.39
124 $80,325.39 $453.85 $0.00 $454.17 $81,233.41
125 $81,233.41 $453.85 $0.00 $459.31 $82,146.57
126 $82,146.57 $453.85 $0.00 $464.47 $83,064.89
127 $83,064.89 $453.85 $0.00 $469.66 $83,988.40
128 $83,988.40 $453.85 $0.00 $474.88 $84,917.13
129 $84,917.13 $453.85 $0.00 $480.13 $85,851.11
130 $85,851.11 $453.85 $0.00 $485.41 $86,790.37
131 $86,790.37 $453.85 $0.00 $490.73 $87,734.95
132 $87,734.95 $453.85 $0.00 $496.07 $88,684.87
133 $88,684.87 $453.85 $0.00 $501.44 $89,640.16
134 $89,640.16 $453.85 $0.00 $506.84 $90,600.85
135 $90,600.85 $453.85 $0.00 $512.27 $91,566.97
136 $91,566.97 $453.85 $0.00 $517.73 $92,538.55
137 $92,538.55 $453.85 $0.00 $523.23 $93,515.63
138 $93,515.63 $453.85 $0.00 $528.75 $94,498.23
139 $94,498.23 $453.85 $0.00 $534.31 $95,486.39
140 $95,486.39 $453.85 $0.00 $539.89 $96,480.13
141 $96,480.13 $453.85 $0.00 $545.51 $97,479.49
142 $97,479.49 $453.85 $0.00 $551.16 $98,484.50
143 $98,484.50 $453.85 $0.00 $556.85 $99,495.20
144 $99,495.20 $453.85 $0.00 $562.56 $100,511.61
145 $100,511.61 $453.85 $0.00 $568.31 $101,533.77
146 $101,533.77 $453.85 $0.00 $574.09 $102,561.71
147 $102,561.71 $453.85 $0.00 $579.90 $103,595.46
148 $103,595.46 $453.85 $0.00 $585.74 $104,635.05
149 $104,635.05 $453.85 $0.00 $591.62 $105,680.52
150 $105,680.52 $453.85 $0.00 $597.53 $106,731.90
151 $106,731.90 $453.85 $0.00 $603.48 $107,789.23
152 $107,789.23 $453.85 $0.00 $609.46 $108,852.54
153 $108,852.54 $453.85 $0.00 $615.47 $109,921.86
154 $109,921.86 $453.85 $0.00 $621.51 $110,997.22
155 $110,997.22 $453.85 $0.00 $627.59 $112,078.66
156 $112,078.66 $453.85 $0.00 $633.71 $113,166.22
157 $113,166.22 $453.85 $0.00 $639.86 $114,259.93
158 $114,259.93 $453.85 $0.00 $646.04 $115,359.82
159 $115,359.82 $453.85 $0.00 $652.26 $116,465.93
160 $116,465.93 $453.85 $0.00 $658.52 $117,578.30
161 $117,578.30 $453.85 $0.00 $664.80 $118,696.95
162 $118,696.95 $453.85 $0.00 $671.13 $119,821.93
163 $119,821.93 $453.85 $0.00 $677.49 $120,953.27
164 $120,953.27 $453.85 $0.00 $683.89 $122,091.01
165 $122,091.01 $453.85 $0.00 $690.32 $123,235.18
166 $123,235.18 $453.85 $0.00 $696.79 $124,385.82
167 $124,385.82 $453.85 $0.00 $703.30 $125,542.97
168 $125,542.97 $453.85 $0.00 $709.84 $126,706.66
169 $126,706.66 $453.85 $0.00 $716.42 $127,876.93
170 $127,876.93 $453.85 $0.00 $723.03 $129,053.81
171 $129,053.81 $453.85 $0.00 $729.69 $130,237.35
172 $130,237.35 $453.85 $0.00 $736.38 $131,427.58
173 $131,427.58 $453.85 $0.00 $743.11 $132,624.54
174 $132,624.54 $453.85 $0.00 $749.88 $133,828.27
175 $133,828.27 $453.85 $0.00 $756.68 $135,038.80
176 $135,038.80 $453.85 $0.00 $763.53 $136,256.18
177 $136,256.18 $453.85 $0.00 $770.41 $137,480.44
178 $137,480.44 $453.85 $0.00 $777.33 $138,711.62
179 $138,711.62 $453.85 $0.00 $784.30 $139,949.77
180 $139,949.77 $453.85 $0.00 $791.30 $141,194.92
181 $141,194.92 $453.85 $0.00 $798.34 $142,447.11
182 $142,447.11 $453.85 $0.00 $805.42 $143,706.38
183 $143,706.38 $453.85 $0.00 $812.54 $144,972.77
184 $144,972.77 $453.85 $0.00 $819.70 $146,246.32
185 $146,246.32 $453.85 $0.00 $826.90 $147,527.07
186 $147,527.07 $453.85 $0.00 $834.14 $148,815.06
187 $148,815.06 $453.85 $0.00 $841.42 $150,110.33
188 $150,110.33 $453.85 $0.00 $848.75 $151,412.93
189 $151,412.93 $453.85 $0.00 $856.11 $152,722.89
190 $152,722.89 $453.85 $0.00 $863.52 $154,040.26
191 $154,040.26 $453.85 $0.00 $870.97 $155,365.08
192 $155,365.08 $453.85 $0.00 $878.46 $156,697.39
193 $156,697.39 $453.85 $0.00 $885.99 $158,037.23
194 $158,037.23 $453.85 $0.00 $893.57 $159,384.65
195 $159,384.65 $453.85 $0.00 $901.18 $160,739.68
196 $160,739.68 $453.85 $0.00 $908.85 $162,102.38
197 $162,102.38 $453.85 $0.00 $916.55 $163,472.78
198 $163,472.78 $453.85 $0.00 $924.30 $164,850.93
199 $164,850.93 $453.85 $0.00 $932.09 $166,236.87
200 $166,236.87 $453.85 $0.00 $939.93 $167,630.65
201 $167,630.65 $453.85 $0.00 $947.81 $169,032.31
202 $169,032.31 $453.85 $0.00 $955.73 $170,441.89
203 $170,441.89 $453.85 $0.00 $963.70 $171,859.44
204 $171,859.44 $453.85 $0.00 $971.72 $173,285.01
205 $173,285.01 $453.85 $0.00 $979.78 $174,718.64
206 $174,718.64 $453.85 $0.00 $987.88 $176,160.37
207 $176,160.37 $453.85 $0.00 $996.04 $177,610.26
208 $177,610.26 $453.85 $0.00 $1,004.23 $179,068.34
209 $179,068.34 $453.85 $0.00 $1,012.48 $180,534.67
210 $180,534.67 $453.85 $0.00 $1,020.77 $182,009.29
211 $182,009.29 $453.85 $0.00 $1,029.11 $183,492.25
212 $183,492.25 $453.85 $0.00 $1,037.49 $184,983.59
213 $184,983.59 $453.85 $0.00 $1,045.92 $186,483.36
214 $186,483.36 $453.85 $0.00 $1,054.40 $187,991.61
215 $187,991.61 $453.85 $0.00 $1,062.93 $189,508.39
216 $189,508.39 $453.85 $0.00 $1,071.51 $191,033.75
217 $191,033.75 $453.85 $53,210.35 $1,080.13 $139,357.38
218 $139,357.38 $453.85 $0.00 $787.95 $140,599.18
219 $140,599.18 $453.85 $0.00 $794.97 $141,848.00
220 $141,848.00 $453.85 $0.00 $802.03 $143,103.88
221 $143,103.88 $453.85 $0.00 $809.13 $144,366.86
222 $144,366.86 $453.85 $0.00 $816.27 $145,636.98
223 $145,636.98 $453.85 $0.00 $823.45 $146,914.28
224 $146,914.28 $453.85 $0.00 $830.67 $148,198.80
225 $148,198.80 $453.85 $0.00 $837.94 $149,490.59
226 $149,490.59 $453.85 $0.00 $845.24 $150,789.68
227 $150,789.68 $453.85 $0.00 $852.59 $152,096.12
228 $152,096.12 $453.85 $0.00 $859.97 $153,409.94
229 $153,409.94 $453.85 $55,870.87 $867.40 $98,860.32
230 $98,860.32 $453.85 $0.00 $558.97 $99,873.14
231 $99,873.14 $453.85 $0.00 $564.70 $100,891.69
232 $100,891.69 $453.85 $0.00 $570.46 $101,916.00
233 $101,916.00 $453.85 $0.00 $576.25 $102,946.10
234 $102,946.10 $453.85 $0.00 $582.07 $103,982.02
235 $103,982.02 $453.85 $0.00 $587.93 $105,023.80
236 $105,023.80 $453.85 $0.00 $593.82 $106,071.47
237 $106,071.47 $453.85 $0.00 $599.74 $107,125.06
238 $107,125.06 $453.85 $0.00 $605.70 $108,184.61
239 $108,184.61 $453.85 $0.00 $611.69 $109,250.15
240 $109,250.15 $453.85 $0.00 $617.72 $110,321.72
241 $110,321.72 $453.85 $58,664.41 $623.78 $52,734.94
242 $52,734.94 $453.85 $0.00 $298.17 $53,486.96
243 $53,486.96 $453.85 $0.00 $302.42 $54,243.23
244 $54,243.23 $453.85 $0.00 $306.70 $55,003.78
245 $55,003.78 $453.85 $0.00 $311.00 $55,768.63
246 $55,768.63 $453.85 $0.00 $315.32 $56,537.80
247 $56,537.80 $453.85 $0.00 $319.67 $57,311.32
248 $57,311.32 $453.85 $0.00 $324.05 $58,089.22
249 $58,089.22 $453.85 $0.00 $328.44 $58,871.51
250 $58,871.51 $453.85 $0.00 $332.87 $59,658.23
251 $59,658.23 $453.85 $0.00 $337.32 $60,449.40
252 $60,449.40 $453.85 $0.00 $341.79 $61,245.04
253 $61,245.04 $0.00 $61,597.63 $346.29 ($6.30)