Savings Plan and Future Cost Estimation for Oakwood University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$144,905
Monthly savings required$1,145

How much will it cost to send your child to Oakwood University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $579,619.04 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,145.21 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$38,624.00
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 $1,145.21 $0.00 $0.00 $1,145.21
2 $1,145.21 $1,145.21 $0.00 $6.48 $2,296.90
3 $2,296.90 $1,145.21 $0.00 $12.99 $3,455.10
4 $3,455.10 $1,145.21 $0.00 $19.54 $4,619.85
5 $4,619.85 $1,145.21 $0.00 $26.12 $5,791.18
6 $5,791.18 $1,145.21 $0.00 $32.74 $6,969.13
7 $6,969.13 $1,145.21 $0.00 $39.40 $8,153.74
8 $8,153.74 $1,145.21 $0.00 $46.10 $9,345.05
9 $9,345.05 $1,145.21 $0.00 $52.84 $10,543.10
10 $10,543.10 $1,145.21 $0.00 $59.61 $11,747.92
11 $11,747.92 $1,145.21 $0.00 $66.42 $12,959.55
12 $12,959.55 $1,145.21 $0.00 $73.28 $14,178.04
13 $14,178.04 $1,145.21 $0.00 $80.16 $15,403.41
14 $15,403.41 $1,145.21 $0.00 $87.09 $16,635.71
15 $16,635.71 $1,145.21 $0.00 $94.06 $17,874.98
16 $17,874.98 $1,145.21 $0.00 $101.07 $19,121.26
17 $19,121.26 $1,145.21 $0.00 $108.11 $20,374.58
18 $20,374.58 $1,145.21 $0.00 $115.20 $21,634.99
19 $21,634.99 $1,145.21 $0.00 $122.33 $22,902.53
20 $22,902.53 $1,145.21 $0.00 $129.49 $24,177.23
21 $24,177.23 $1,145.21 $0.00 $136.70 $25,459.14
22 $25,459.14 $1,145.21 $0.00 $143.95 $26,748.30
23 $26,748.30 $1,145.21 $0.00 $151.24 $28,044.75
24 $28,044.75 $1,145.21 $0.00 $158.57 $29,348.53
25 $29,348.53 $1,145.21 $0.00 $165.94 $30,659.68
26 $30,659.68 $1,145.21 $0.00 $173.35 $31,978.24
27 $31,978.24 $1,145.21 $0.00 $180.81 $33,304.26
28 $33,304.26 $1,145.21 $0.00 $188.31 $34,637.78
29 $34,637.78 $1,145.21 $0.00 $195.85 $35,978.84
30 $35,978.84 $1,145.21 $0.00 $203.43 $37,327.48
31 $37,327.48 $1,145.21 $0.00 $211.05 $38,683.74
32 $38,683.74 $1,145.21 $0.00 $218.72 $40,047.67
33 $40,047.67 $1,145.21 $0.00 $226.44 $41,419.32
34 $41,419.32 $1,145.21 $0.00 $234.19 $42,798.72
35 $42,798.72 $1,145.21 $0.00 $241.99 $44,185.92
36 $44,185.92 $1,145.21 $0.00 $249.83 $45,580.96
37 $45,580.96 $1,145.21 $0.00 $257.72 $46,983.89
38 $46,983.89 $1,145.21 $0.00 $265.65 $48,394.75
39 $48,394.75 $1,145.21 $0.00 $273.63 $49,813.59
40 $49,813.59 $1,145.21 $0.00 $281.65 $51,240.45
41 $51,240.45 $1,145.21 $0.00 $289.72 $52,675.38
42 $52,675.38 $1,145.21 $0.00 $297.83 $54,118.42
43 $54,118.42 $1,145.21 $0.00 $305.99 $55,569.62
44 $55,569.62 $1,145.21 $0.00 $314.20 $57,029.03
45 $57,029.03 $1,145.21 $0.00 $322.45 $58,496.69
46 $58,496.69 $1,145.21 $0.00 $330.75 $59,972.65
47 $59,972.65 $1,145.21 $0.00 $339.09 $61,456.95
48 $61,456.95 $1,145.21 $0.00 $347.49 $62,949.65
49 $62,949.65 $1,145.21 $0.00 $355.93 $64,450.79
50 $64,450.79 $1,145.21 $0.00 $364.41 $65,960.41
51 $65,960.41 $1,145.21 $0.00 $372.95 $67,478.57
52 $67,478.57 $1,145.21 $0.00 $381.53 $69,005.31
53 $69,005.31 $1,145.21 $0.00 $390.17 $70,540.69
54 $70,540.69 $1,145.21 $0.00 $398.85 $72,084.75
55 $72,084.75 $1,145.21 $0.00 $407.58 $73,637.54
56 $73,637.54 $1,145.21 $0.00 $416.36 $75,199.11
57 $75,199.11 $1,145.21 $0.00 $425.19 $76,769.51
58 $76,769.51 $1,145.21 $0.00 $434.07 $78,348.79
59 $78,348.79 $1,145.21 $0.00 $443.00 $79,937.00
60 $79,937.00 $1,145.21 $0.00 $451.98 $81,534.19
61 $81,534.19 $1,145.21 $0.00 $461.01 $83,140.41
62 $83,140.41 $1,145.21 $0.00 $470.09 $84,755.71
63 $84,755.71 $1,145.21 $0.00 $479.22 $86,380.14
64 $86,380.14 $1,145.21 $0.00 $488.41 $88,013.76
65 $88,013.76 $1,145.21 $0.00 $497.64 $89,656.61
66 $89,656.61 $1,145.21 $0.00 $506.93 $91,308.75
67 $91,308.75 $1,145.21 $0.00 $516.27 $92,970.23
68 $92,970.23 $1,145.21 $0.00 $525.67 $94,641.11
69 $94,641.11 $1,145.21 $0.00 $535.11 $96,321.43
70 $96,321.43 $1,145.21 $0.00 $544.62 $98,011.26
71 $98,011.26 $1,145.21 $0.00 $554.17 $99,710.64
72 $99,710.64 $1,145.21 $0.00 $563.78 $101,419.63
73 $101,419.63 $1,145.21 $0.00 $573.44 $103,138.28
74 $103,138.28 $1,145.21 $0.00 $583.16 $104,866.65
75 $104,866.65 $1,145.21 $0.00 $592.93 $106,604.79
76 $106,604.79 $1,145.21 $0.00 $602.76 $108,352.76
77 $108,352.76 $1,145.21 $0.00 $612.64 $110,110.61
78 $110,110.61 $1,145.21 $0.00 $622.58 $111,878.40
79 $111,878.40 $1,145.21 $0.00 $632.58 $113,656.19
80 $113,656.19 $1,145.21 $0.00 $642.63 $115,444.03
81 $115,444.03 $1,145.21 $0.00 $652.74 $117,241.98
82 $117,241.98 $1,145.21 $0.00 $662.90 $119,050.09
83 $119,050.09 $1,145.21 $0.00 $673.13 $120,868.43
84 $120,868.43 $1,145.21 $0.00 $683.41 $122,697.05
85 $122,697.05 $1,145.21 $0.00 $693.75 $124,536.01
86 $124,536.01 $1,145.21 $0.00 $704.14 $126,385.36
87 $126,385.36 $1,145.21 $0.00 $714.60 $128,245.17
88 $128,245.17 $1,145.21 $0.00 $725.12 $130,115.50
89 $130,115.50 $1,145.21 $0.00 $735.69 $131,996.40
90 $131,996.40 $1,145.21 $0.00 $746.33 $133,887.94
91 $133,887.94 $1,145.21 $0.00 $757.02 $135,790.17
92 $135,790.17 $1,145.21 $0.00 $767.78 $137,703.16
93 $137,703.16 $1,145.21 $0.00 $778.59 $139,626.96
94 $139,626.96 $1,145.21 $0.00 $789.47 $141,561.64
95 $141,561.64 $1,145.21 $0.00 $800.41 $143,507.26
96 $143,507.26 $1,145.21 $0.00 $811.41 $145,463.88
97 $145,463.88 $1,145.21 $0.00 $822.47 $147,431.56
98 $147,431.56 $1,145.21 $0.00 $833.60 $149,410.37
99 $149,410.37 $1,145.21 $0.00 $844.79 $151,400.37
100 $151,400.37 $1,145.21 $0.00 $856.04 $153,401.62
101 $153,401.62 $1,145.21 $0.00 $867.36 $155,414.19
102 $155,414.19 $1,145.21 $0.00 $878.73 $157,438.13
103 $157,438.13 $1,145.21 $0.00 $890.18 $159,473.52
104 $159,473.52 $1,145.21 $0.00 $901.69 $161,520.42
105 $161,520.42 $1,145.21 $0.00 $913.26 $163,578.89
106 $163,578.89 $1,145.21 $0.00 $924.90 $165,649.00
107 $165,649.00 $1,145.21 $0.00 $936.60 $167,730.81
108 $167,730.81 $1,145.21 $0.00 $948.37 $169,824.39
109 $169,824.39 $1,145.21 $0.00 $960.21 $171,929.81
110 $171,929.81 $1,145.21 $0.00 $972.12 $174,047.14
111 $174,047.14 $1,145.21 $0.00 $984.09 $176,176.44
112 $176,176.44 $1,145.21 $0.00 $996.13 $178,317.78
113 $178,317.78 $1,145.21 $0.00 $1,008.23 $180,471.22
114 $180,471.22 $1,145.21 $0.00 $1,020.41 $182,636.84
115 $182,636.84 $1,145.21 $0.00 $1,032.66 $184,814.71
116 $184,814.71 $1,145.21 $0.00 $1,044.97 $187,004.89
117 $187,004.89 $1,145.21 $0.00 $1,057.35 $189,207.45
118 $189,207.45 $1,145.21 $0.00 $1,069.81 $191,422.47
119 $191,422.47 $1,145.21 $0.00 $1,082.33 $193,650.01
120 $193,650.01 $1,145.21 $0.00 $1,094.93 $195,890.15
121 $195,890.15 $1,145.21 $0.00 $1,107.59 $198,142.95
122 $198,142.95 $1,145.21 $0.00 $1,120.33 $200,408.49
123 $200,408.49 $1,145.21 $0.00 $1,133.14 $202,686.84
124 $202,686.84 $1,145.21 $0.00 $1,146.02 $204,978.07
125 $204,978.07 $1,145.21 $0.00 $1,158.98 $207,282.26
126 $207,282.26 $1,145.21 $0.00 $1,172.00 $209,599.47
127 $209,599.47 $1,145.21 $0.00 $1,185.11 $211,929.79
128 $211,929.79 $1,145.21 $0.00 $1,198.28 $214,273.28
129 $214,273.28 $1,145.21 $0.00 $1,211.53 $216,630.02
130 $216,630.02 $1,145.21 $0.00 $1,224.86 $219,000.09
131 $219,000.09 $1,145.21 $0.00 $1,238.26 $221,383.56
132 $221,383.56 $1,145.21 $0.00 $1,251.73 $223,780.50
133 $223,780.50 $1,145.21 $0.00 $1,265.29 $226,191.00
134 $226,191.00 $1,145.21 $0.00 $1,278.92 $228,615.13
135 $228,615.13 $1,145.21 $0.00 $1,292.62 $231,052.96
136 $231,052.96 $1,145.21 $0.00 $1,306.41 $233,504.58
137 $233,504.58 $1,145.21 $0.00 $1,320.27 $235,970.06
138 $235,970.06 $1,145.21 $0.00 $1,334.21 $238,449.48
139 $238,449.48 $1,145.21 $0.00 $1,348.23 $240,942.92
140 $240,942.92 $1,145.21 $0.00 $1,362.33 $243,450.46
141 $243,450.46 $1,145.21 $0.00 $1,376.50 $245,972.17
142 $245,972.17 $1,145.21 $0.00 $1,390.76 $248,508.14
143 $248,508.14 $1,145.21 $0.00 $1,405.10 $251,058.45
144 $251,058.45 $1,145.21 $0.00 $1,419.52 $253,623.18
145 $253,623.18 $1,145.21 $0.00 $1,434.02 $256,202.41
146 $256,202.41 $1,145.21 $0.00 $1,448.61 $258,796.23
147 $258,796.23 $1,145.21 $0.00 $1,463.27 $261,404.71
148 $261,404.71 $1,145.21 $0.00 $1,478.02 $264,027.94
149 $264,027.94 $1,145.21 $0.00 $1,492.85 $266,666.00
150 $266,666.00 $1,145.21 $0.00 $1,507.77 $269,318.98
151 $269,318.98 $1,145.21 $0.00 $1,522.77 $271,986.96
152 $271,986.96 $1,145.21 $0.00 $1,537.85 $274,670.02
153 $274,670.02 $1,145.21 $0.00 $1,553.02 $277,368.25
154 $277,368.25 $1,145.21 $0.00 $1,568.28 $280,081.74
155 $280,081.74 $1,145.21 $0.00 $1,583.62 $282,810.57
156 $282,810.57 $1,145.21 $0.00 $1,599.05 $285,554.83
157 $285,554.83 $1,145.21 $0.00 $1,614.57 $288,314.61
158 $288,314.61 $1,145.21 $0.00 $1,630.17 $291,089.99
159 $291,089.99 $1,145.21 $0.00 $1,645.87 $293,881.07
160 $293,881.07 $1,145.21 $0.00 $1,661.65 $296,687.93
161 $296,687.93 $1,145.21 $0.00 $1,677.52 $299,510.66
162 $299,510.66 $1,145.21 $0.00 $1,693.48 $302,349.35
163 $302,349.35 $1,145.21 $0.00 $1,709.53 $305,204.09
164 $305,204.09 $1,145.21 $0.00 $1,725.67 $308,074.97
165 $308,074.97 $1,145.21 $0.00 $1,741.90 $310,962.08
166 $310,962.08 $1,145.21 $0.00 $1,758.22 $313,865.51
167 $313,865.51 $1,145.21 $0.00 $1,774.64 $316,785.36
168 $316,785.36 $1,145.21 $0.00 $1,791.15 $319,721.72
169 $319,721.72 $1,145.21 $0.00 $1,807.75 $322,674.68
170 $322,674.68 $1,145.21 $0.00 $1,824.45 $325,644.34
171 $325,644.34 $1,145.21 $0.00 $1,841.24 $328,630.79
172 $328,630.79 $1,145.21 $0.00 $1,858.13 $331,634.13
173 $331,634.13 $1,145.21 $0.00 $1,875.11 $334,654.45
174 $334,654.45 $1,145.21 $0.00 $1,892.18 $337,691.84
175 $337,691.84 $1,145.21 $0.00 $1,909.36 $340,746.41
176 $340,746.41 $1,145.21 $0.00 $1,926.63 $343,818.25
177 $343,818.25 $1,145.21 $0.00 $1,944.00 $346,907.46
178 $346,907.46 $1,145.21 $0.00 $1,961.47 $350,014.14
179 $350,014.14 $1,145.21 $0.00 $1,979.03 $353,138.38
180 $353,138.38 $1,145.21 $0.00 $1,996.70 $356,280.29
181 $356,280.29 $1,145.21 $0.00 $2,014.46 $359,439.96
182 $359,439.96 $1,145.21 $0.00 $2,032.33 $362,617.50
183 $362,617.50 $1,145.21 $0.00 $2,050.29 $365,813.00
184 $365,813.00 $1,145.21 $0.00 $2,068.36 $369,026.57
185 $369,026.57 $1,145.21 $0.00 $2,086.53 $372,258.31
186 $372,258.31 $1,145.21 $0.00 $2,104.80 $375,508.32
187 $375,508.32 $1,145.21 $0.00 $2,123.18 $378,776.71
188 $378,776.71 $1,145.21 $0.00 $2,141.66 $382,063.58
189 $382,063.58 $1,145.21 $0.00 $2,160.24 $385,369.03
190 $385,369.03 $1,145.21 $0.00 $2,178.93 $388,693.17
191 $388,693.17 $1,145.21 $0.00 $2,197.73 $392,036.11
192 $392,036.11 $1,145.21 $0.00 $2,216.63 $395,397.95
193 $395,397.95 $1,145.21 $0.00 $2,235.64 $398,778.80
194 $398,778.80 $1,145.21 $0.00 $2,254.75 $402,178.76
195 $402,178.76 $1,145.21 $0.00 $2,273.98 $405,597.95
196 $405,597.95 $1,145.21 $0.00 $2,293.31 $409,036.47
197 $409,036.47 $1,145.21 $0.00 $2,312.75 $412,494.43
198 $412,494.43 $1,145.21 $0.00 $2,332.30 $415,971.94
199 $415,971.94 $1,145.21 $0.00 $2,351.97 $419,469.12
200 $419,469.12 $1,145.21 $0.00 $2,371.74 $422,986.07
201 $422,986.07 $1,145.21 $0.00 $2,391.62 $426,522.90
202 $426,522.90 $1,145.21 $0.00 $2,411.62 $430,079.73
203 $430,079.73 $1,145.21 $0.00 $2,431.73 $433,656.67
204 $433,656.67 $1,145.21 $0.00 $2,451.96 $437,253.84
205 $437,253.84 $1,145.21 $0.00 $2,472.30 $440,871.35
206 $440,871.35 $1,145.21 $0.00 $2,492.75 $444,509.31
207 $444,509.31 $1,145.21 $0.00 $2,513.32 $448,167.84
208 $448,167.84 $1,145.21 $0.00 $2,534.01 $451,847.06
209 $451,847.06 $1,145.21 $0.00 $2,554.81 $455,547.08
210 $455,547.08 $1,145.21 $0.00 $2,575.73 $459,268.02
211 $459,268.02 $1,145.21 $0.00 $2,596.77 $463,010.00
212 $463,010.00 $1,145.21 $0.00 $2,617.93 $466,773.14
213 $466,773.14 $1,145.21 $0.00 $2,639.20 $470,557.55
214 $470,557.55 $1,145.21 $0.00 $2,660.60 $474,363.36
215 $474,363.36 $1,145.21 $0.00 $2,682.12 $478,190.69
216 $478,190.69 $1,145.21 $0.00 $2,703.76 $482,039.66
217 $482,039.66 $1,145.21 $130,546.50 $2,725.52 $355,363.89
218 $355,363.89 $1,145.21 $0.00 $2,009.28 $358,518.38
219 $358,518.38 $1,145.21 $0.00 $2,027.12 $361,690.71
220 $361,690.71 $1,145.21 $0.00 $2,045.05 $364,880.97
221 $364,880.97 $1,145.21 $0.00 $2,063.09 $368,089.27
222 $368,089.27 $1,145.21 $0.00 $2,081.23 $371,315.71
223 $371,315.71 $1,145.21 $0.00 $2,099.47 $374,560.39
224 $374,560.39 $1,145.21 $0.00 $2,117.82 $377,823.42
225 $377,823.42 $1,145.21 $0.00 $2,136.27 $381,104.90
226 $381,104.90 $1,145.21 $0.00 $2,154.82 $384,404.93
227 $384,404.93 $1,145.21 $0.00 $2,173.48 $387,723.62
228 $387,723.62 $1,145.21 $0.00 $2,192.25 $391,061.08
229 $391,061.08 $1,145.21 $139,684.76 $2,211.12 $254,732.65
230 $254,732.65 $1,145.21 $0.00 $1,440.30 $257,318.16
231 $257,318.16 $1,145.21 $0.00 $1,454.91 $259,918.28
232 $259,918.28 $1,145.21 $0.00 $1,469.62 $262,533.11
233 $262,533.11 $1,145.21 $0.00 $1,484.40 $265,162.72
234 $265,162.72 $1,145.21 $0.00 $1,499.27 $267,807.20
235 $267,807.20 $1,145.21 $0.00 $1,514.22 $270,466.63
236 $270,466.63 $1,145.21 $0.00 $1,529.26 $273,141.10
237 $273,141.10 $1,145.21 $0.00 $1,544.38 $275,830.69
238 $275,830.69 $1,145.21 $0.00 $1,559.59 $278,535.49
239 $278,535.49 $1,145.21 $0.00 $1,574.88 $281,255.58
240 $281,255.58 $1,145.21 $0.00 $1,590.26 $283,991.05
241 $283,991.05 $1,145.21 $149,462.69 $1,605.73 $137,279.30
242 $137,279.30 $1,145.21 $0.00 $776.20 $139,200.71
243 $139,200.71 $1,145.21 $0.00 $787.06 $141,132.98
244 $141,132.98 $1,145.21 $0.00 $797.99 $143,076.18
245 $143,076.18 $1,145.21 $0.00 $808.97 $145,030.36
246 $145,030.36 $1,145.21 $0.00 $820.02 $146,995.59
247 $146,995.59 $1,145.21 $0.00 $831.13 $148,971.93
248 $148,971.93 $1,145.21 $0.00 $842.31 $150,959.45
249 $150,959.45 $1,145.21 $0.00 $853.55 $152,958.21
250 $152,958.21 $1,145.21 $0.00 $864.85 $154,968.27
251 $154,968.27 $1,145.21 $0.00 $876.21 $156,989.69
252 $156,989.69 $1,145.21 $0.00 $887.64 $159,022.54
253 $159,022.54 $0.00 $159,925.08 $899.14 -$3.40