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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$124,119
Monthly savings required$982

How much will it cost to send your child to Samford University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $496,474.75 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $982.50 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$47,863.00
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 $982.50 $0.00 $0.00 $982.50
2 $982.50 $982.50 $0.00 $5.56 $1,970.56
3 $1,970.56 $982.50 $0.00 $11.14 $2,964.20
4 $2,964.20 $982.50 $0.00 $16.76 $3,963.46
5 $3,963.46 $982.50 $0.00 $22.41 $4,968.37
6 $4,968.37 $982.50 $0.00 $28.09 $5,978.96
7 $5,978.96 $982.50 $0.00 $33.81 $6,995.27
8 $6,995.27 $982.50 $0.00 $39.55 $8,017.32
9 $8,017.32 $982.50 $0.00 $45.33 $9,045.15
10 $9,045.15 $982.50 $0.00 $51.14 $10,078.79
11 $10,078.79 $982.50 $0.00 $56.99 $11,118.28
12 $11,118.28 $982.50 $0.00 $62.86 $12,163.64
13 $12,163.64 $982.50 $0.00 $68.77 $13,214.91
14 $13,214.91 $982.50 $0.00 $74.72 $14,272.13
15 $14,272.13 $982.50 $0.00 $80.70 $15,335.33
16 $15,335.33 $982.50 $0.00 $86.71 $16,404.54
17 $16,404.54 $982.50 $0.00 $92.75 $17,479.79
18 $17,479.79 $982.50 $0.00 $98.83 $18,561.12
19 $18,561.12 $982.50 $0.00 $104.95 $19,648.57
20 $19,648.57 $982.50 $0.00 $111.10 $20,742.17
21 $20,742.17 $982.50 $0.00 $117.28 $21,841.95
22 $21,841.95 $982.50 $0.00 $123.50 $22,947.95
23 $22,947.95 $982.50 $0.00 $129.75 $24,060.20
24 $24,060.20 $982.50 $0.00 $136.04 $25,178.74
25 $25,178.74 $982.50 $0.00 $142.36 $26,303.60
26 $26,303.60 $982.50 $0.00 $148.72 $27,434.82
27 $27,434.82 $982.50 $0.00 $155.12 $28,572.44
28 $28,572.44 $982.50 $0.00 $161.55 $29,716.49
29 $29,716.49 $982.50 $0.00 $168.02 $30,867.01
30 $30,867.01 $982.50 $0.00 $174.53 $32,024.04
31 $32,024.04 $982.50 $0.00 $181.07 $33,187.61
32 $33,187.61 $982.50 $0.00 $187.65 $34,357.76
33 $34,357.76 $982.50 $0.00 $194.26 $35,534.52
34 $35,534.52 $982.50 $0.00 $200.92 $36,717.94
35 $36,717.94 $982.50 $0.00 $207.61 $37,908.05
36 $37,908.05 $982.50 $0.00 $214.34 $39,104.89
37 $39,104.89 $982.50 $0.00 $221.10 $40,308.49
38 $40,308.49 $982.50 $0.00 $227.91 $41,518.90
39 $41,518.90 $982.50 $0.00 $234.75 $42,736.15
40 $42,736.15 $982.50 $0.00 $241.64 $43,960.29
41 $43,960.29 $982.50 $0.00 $248.56 $45,191.35
42 $45,191.35 $982.50 $0.00 $255.52 $46,429.37
43 $46,429.37 $982.50 $0.00 $262.52 $47,674.39
44 $47,674.39 $982.50 $0.00 $269.56 $48,926.45
45 $48,926.45 $982.50 $0.00 $276.64 $50,185.59
46 $50,185.59 $982.50 $0.00 $283.76 $51,451.85
47 $51,451.85 $982.50 $0.00 $290.92 $52,725.27
48 $52,725.27 $982.50 $0.00 $298.12 $54,005.89
49 $54,005.89 $982.50 $0.00 $305.36 $55,293.75
50 $55,293.75 $982.50 $0.00 $312.64 $56,588.89
51 $56,588.89 $982.50 $0.00 $319.96 $57,891.35
52 $57,891.35 $982.50 $0.00 $327.33 $59,201.18
53 $59,201.18 $982.50 $0.00 $334.73 $60,518.41
54 $60,518.41 $982.50 $0.00 $342.18 $61,843.09
55 $61,843.09 $982.50 $0.00 $349.67 $63,175.26
56 $63,175.26 $982.50 $0.00 $357.20 $64,514.96
57 $64,514.96 $982.50 $0.00 $364.78 $65,862.24
58 $65,862.24 $982.50 $0.00 $372.39 $67,217.13
59 $67,217.13 $982.50 $0.00 $380.06 $68,579.69
60 $68,579.69 $982.50 $0.00 $387.76 $69,949.95
61 $69,949.95 $982.50 $0.00 $395.51 $71,327.96
62 $71,327.96 $982.50 $0.00 $403.30 $72,713.76
63 $72,713.76 $982.50 $0.00 $411.13 $74,107.39
64 $74,107.39 $982.50 $0.00 $419.01 $75,508.90
65 $75,508.90 $982.50 $0.00 $426.94 $76,918.34
66 $76,918.34 $982.50 $0.00 $434.91 $78,335.75
67 $78,335.75 $982.50 $0.00 $442.92 $79,761.17
68 $79,761.17 $982.50 $0.00 $450.98 $81,194.65
69 $81,194.65 $982.50 $0.00 $459.09 $82,636.24
70 $82,636.24 $982.50 $0.00 $467.24 $84,085.98
71 $84,085.98 $982.50 $0.00 $475.43 $85,543.91
72 $85,543.91 $982.50 $0.00 $483.68 $87,010.09
73 $87,010.09 $982.50 $0.00 $491.97 $88,484.56
74 $88,484.56 $982.50 $0.00 $500.30 $89,967.36
75 $89,967.36 $982.50 $0.00 $508.69 $91,458.55
76 $91,458.55 $982.50 $0.00 $517.12 $92,958.17
77 $92,958.17 $982.50 $0.00 $525.60 $94,466.27
78 $94,466.27 $982.50 $0.00 $534.13 $95,982.90
79 $95,982.90 $982.50 $0.00 $542.70 $97,508.10
80 $97,508.10 $982.50 $0.00 $551.32 $99,041.92
81 $99,041.92 $982.50 $0.00 $560.00 $100,584.42
82 $100,584.42 $982.50 $0.00 $568.72 $102,135.64
83 $102,135.64 $982.50 $0.00 $577.49 $103,695.63
84 $103,695.63 $982.50 $0.00 $586.31 $105,264.44
85 $105,264.44 $982.50 $0.00 $595.18 $106,842.12
86 $106,842.12 $982.50 $0.00 $604.10 $108,428.72
87 $108,428.72 $982.50 $0.00 $613.07 $110,024.29
88 $110,024.29 $982.50 $0.00 $622.09 $111,628.88
89 $111,628.88 $982.50 $0.00 $631.17 $113,242.55
90 $113,242.55 $982.50 $0.00 $640.29 $114,865.34
91 $114,865.34 $982.50 $0.00 $649.47 $116,497.31
92 $116,497.31 $982.50 $0.00 $658.69 $118,138.50
93 $118,138.50 $982.50 $0.00 $667.97 $119,788.97
94 $119,788.97 $982.50 $0.00 $677.30 $121,448.77
95 $121,448.77 $982.50 $0.00 $686.69 $123,117.96
96 $123,117.96 $982.50 $0.00 $696.13 $124,796.59
97 $124,796.59 $982.50 $0.00 $705.62 $126,484.71
98 $126,484.71 $982.50 $0.00 $715.16 $128,182.37
99 $128,182.37 $982.50 $0.00 $724.76 $129,889.63
100 $129,889.63 $982.50 $0.00 $734.41 $131,606.54
101 $131,606.54 $982.50 $0.00 $744.12 $133,333.16
102 $133,333.16 $982.50 $0.00 $753.89 $135,069.55
103 $135,069.55 $982.50 $0.00 $763.70 $136,815.75
104 $136,815.75 $982.50 $0.00 $773.58 $138,571.83
105 $138,571.83 $982.50 $0.00 $783.51 $140,337.84
106 $140,337.84 $982.50 $0.00 $793.49 $142,113.83
107 $142,113.83 $982.50 $0.00 $803.53 $143,899.86
108 $143,899.86 $982.50 $0.00 $813.63 $145,695.99
109 $145,695.99 $982.50 $0.00 $823.79 $147,502.28
110 $147,502.28 $982.50 $0.00 $834.00 $149,318.78
111 $149,318.78 $982.50 $0.00 $844.27 $151,145.55
112 $151,145.55 $982.50 $0.00 $854.60 $152,982.65
113 $152,982.65 $982.50 $0.00 $864.99 $154,830.14
114 $154,830.14 $982.50 $0.00 $875.43 $156,688.07
115 $156,688.07 $982.50 $0.00 $885.94 $158,556.51
116 $158,556.51 $982.50 $0.00 $896.50 $160,435.51
117 $160,435.51 $982.50 $0.00 $907.13 $162,325.14
118 $162,325.14 $982.50 $0.00 $917.81 $164,225.45
119 $164,225.45 $982.50 $0.00 $928.55 $166,136.50
120 $166,136.50 $982.50 $0.00 $939.36 $168,058.36
121 $168,058.36 $982.50 $0.00 $950.23 $169,991.09
122 $169,991.09 $982.50 $0.00 $961.15 $171,934.74
123 $171,934.74 $982.50 $0.00 $972.14 $173,889.38
124 $173,889.38 $982.50 $0.00 $983.20 $175,855.08
125 $175,855.08 $982.50 $0.00 $994.31 $177,831.89
126 $177,831.89 $982.50 $0.00 $1,005.49 $179,819.88
127 $179,819.88 $982.50 $0.00 $1,016.73 $181,819.11
128 $181,819.11 $982.50 $0.00 $1,028.03 $183,829.64
129 $183,829.64 $982.50 $0.00 $1,039.40 $185,851.54
130 $185,851.54 $982.50 $0.00 $1,050.83 $187,884.87
131 $187,884.87 $982.50 $0.00 $1,062.33 $189,929.70
132 $189,929.70 $982.50 $0.00 $1,073.89 $191,986.09
133 $191,986.09 $982.50 $0.00 $1,085.52 $194,054.11
134 $194,054.11 $982.50 $0.00 $1,097.21 $196,133.82
135 $196,133.82 $982.50 $0.00 $1,108.97 $198,225.29
136 $198,225.29 $982.50 $0.00 $1,120.79 $200,328.58
137 $200,328.58 $982.50 $0.00 $1,132.69 $202,443.77
138 $202,443.77 $982.50 $0.00 $1,144.65 $204,570.92
139 $204,570.92 $982.50 $0.00 $1,156.67 $206,710.09
140 $206,710.09 $982.50 $0.00 $1,168.77 $208,861.36
141 $208,861.36 $982.50 $0.00 $1,180.93 $211,024.79
142 $211,024.79 $982.50 $0.00 $1,193.16 $213,200.45
143 $213,200.45 $982.50 $0.00 $1,205.47 $215,388.42
144 $215,388.42 $982.50 $0.00 $1,217.84 $217,588.76
145 $217,588.76 $982.50 $0.00 $1,230.28 $219,801.54
146 $219,801.54 $982.50 $0.00 $1,242.79 $222,026.83
147 $222,026.83 $982.50 $0.00 $1,255.37 $224,264.70
148 $224,264.70 $982.50 $0.00 $1,268.03 $226,515.23
149 $226,515.23 $982.50 $0.00 $1,280.75 $228,778.48
150 $228,778.48 $982.50 $0.00 $1,293.55 $231,054.53
151 $231,054.53 $982.50 $0.00 $1,306.42 $233,343.45
152 $233,343.45 $982.50 $0.00 $1,319.36 $235,645.31
153 $235,645.31 $982.50 $0.00 $1,332.37 $237,960.18
154 $237,960.18 $982.50 $0.00 $1,345.46 $240,288.14
155 $240,288.14 $982.50 $0.00 $1,358.62 $242,629.26
156 $242,629.26 $982.50 $0.00 $1,371.86 $244,983.62
157 $244,983.62 $982.50 $0.00 $1,385.17 $247,351.29
158 $247,351.29 $982.50 $0.00 $1,398.56 $249,732.35
159 $249,732.35 $982.50 $0.00 $1,412.02 $252,126.87
160 $252,126.87 $982.50 $0.00 $1,425.56 $254,534.93
161 $254,534.93 $982.50 $0.00 $1,439.18 $256,956.61
162 $256,956.61 $982.50 $0.00 $1,452.87 $259,391.98
163 $259,391.98 $982.50 $0.00 $1,466.64 $261,841.12
164 $261,841.12 $982.50 $0.00 $1,480.49 $264,304.11
165 $264,304.11 $982.50 $0.00 $1,494.41 $266,781.02
166 $266,781.02 $982.50 $0.00 $1,508.42 $269,271.94
167 $269,271.94 $982.50 $0.00 $1,522.50 $271,776.94
168 $271,776.94 $982.50 $0.00 $1,536.67 $274,296.11
169 $274,296.11 $982.50 $0.00 $1,550.91 $276,829.52
170 $276,829.52 $982.50 $0.00 $1,565.23 $279,377.25
171 $279,377.25 $982.50 $0.00 $1,579.64 $281,939.39
172 $281,939.39 $982.50 $0.00 $1,594.13 $284,516.02
173 $284,516.02 $982.50 $0.00 $1,608.69 $287,107.21
174 $287,107.21 $982.50 $0.00 $1,623.35 $289,713.06
175 $289,713.06 $982.50 $0.00 $1,638.08 $292,333.64
176 $292,333.64 $982.50 $0.00 $1,652.90 $294,969.04
177 $294,969.04 $982.50 $0.00 $1,667.80 $297,619.34
178 $297,619.34 $982.50 $0.00 $1,682.78 $300,284.62
179 $300,284.62 $982.50 $0.00 $1,697.85 $302,964.97
180 $302,964.97 $982.50 $0.00 $1,713.01 $305,660.48
181 $305,660.48 $982.50 $0.00 $1,728.25 $308,371.23
182 $308,371.23 $982.50 $0.00 $1,743.58 $311,097.31
183 $311,097.31 $982.50 $0.00 $1,758.99 $313,838.80
184 $313,838.80 $982.50 $0.00 $1,774.49 $316,595.79
185 $316,595.79 $982.50 $0.00 $1,790.08 $319,368.37
186 $319,368.37 $982.50 $0.00 $1,805.76 $322,156.63
187 $322,156.63 $982.50 $0.00 $1,821.52 $324,960.65
188 $324,960.65 $982.50 $0.00 $1,837.37 $327,780.52
189 $327,780.52 $982.50 $0.00 $1,853.32 $330,616.34
190 $330,616.34 $982.50 $0.00 $1,869.35 $333,468.19
191 $333,468.19 $982.50 $0.00 $1,885.48 $336,336.17
192 $336,336.17 $982.50 $0.00 $1,901.69 $339,220.36
193 $339,220.36 $982.50 $0.00 $1,918.00 $342,120.86
194 $342,120.86 $982.50 $0.00 $1,934.40 $345,037.76
195 $345,037.76 $982.50 $0.00 $1,950.89 $347,971.15
196 $347,971.15 $982.50 $0.00 $1,967.48 $350,921.13
197 $350,921.13 $982.50 $0.00 $1,984.16 $353,887.79
198 $353,887.79 $982.50 $0.00 $2,000.93 $356,871.22
199 $356,871.22 $982.50 $0.00 $2,017.80 $359,871.52
200 $359,871.52 $982.50 $0.00 $2,034.77 $362,888.79
201 $362,888.79 $982.50 $0.00 $2,051.83 $365,923.12
202 $365,923.12 $982.50 $0.00 $2,068.98 $368,974.60
203 $368,974.60 $982.50 $0.00 $2,086.24 $372,043.34
204 $372,043.34 $982.50 $0.00 $2,103.59 $375,129.43
205 $375,129.43 $982.50 $0.00 $2,121.04 $378,232.97
206 $378,232.97 $982.50 $0.00 $2,138.58 $381,354.05
207 $381,354.05 $982.50 $0.00 $2,156.23 $384,492.78
208 $384,492.78 $982.50 $0.00 $2,173.98 $387,649.26
209 $387,649.26 $982.50 $0.00 $2,191.83 $390,823.59
210 $390,823.59 $982.50 $0.00 $2,209.77 $394,015.86
211 $394,015.86 $982.50 $0.00 $2,227.82 $397,226.18
212 $397,226.18 $982.50 $0.00 $2,245.97 $400,454.65
213 $400,454.65 $982.50 $0.00 $2,264.23 $403,701.38
214 $403,701.38 $982.50 $0.00 $2,282.59 $406,966.47
215 $406,966.47 $982.50 $0.00 $2,301.05 $410,250.02
216 $410,250.02 $982.50 $0.00 $2,319.61 $413,552.13
217 $413,552.13 $982.50 $115,188.02 $2,338.28 $301,684.89
218 $301,684.89 $982.50 $0.00 $1,705.77 $304,373.16
219 $304,373.16 $982.50 $0.00 $1,720.97 $307,076.63
220 $307,076.63 $982.50 $0.00 $1,736.26 $309,795.39
221 $309,795.39 $982.50 $0.00 $1,751.63 $312,529.52
222 $312,529.52 $982.50 $0.00 $1,767.09 $315,279.11
223 $315,279.11 $982.50 $0.00 $1,782.63 $318,044.24
224 $318,044.24 $982.50 $0.00 $1,798.27 $320,825.01
225 $320,825.01 $982.50 $0.00 $1,813.99 $323,621.50
226 $323,621.50 $982.50 $0.00 $1,829.80 $326,433.80
227 $326,433.80 $982.50 $0.00 $1,845.70 $329,262.00
228 $329,262.00 $982.50 $0.00 $1,861.70 $332,106.20
229 $332,106.20 $982.50 $120,947.42 $1,877.78 $214,019.06
230 $214,019.06 $982.50 $0.00 $1,210.09 $216,211.65
231 $216,211.65 $982.50 $0.00 $1,222.49 $218,416.64
232 $218,416.64 $982.50 $0.00 $1,234.96 $220,634.10
233 $220,634.10 $982.50 $0.00 $1,247.50 $222,864.10
234 $222,864.10 $982.50 $0.00 $1,260.11 $225,106.71
235 $225,106.71 $982.50 $0.00 $1,272.79 $227,362.00
236 $227,362.00 $982.50 $0.00 $1,285.54 $229,630.04
237 $229,630.04 $982.50 $0.00 $1,298.36 $231,910.90
238 $231,910.90 $982.50 $0.00 $1,311.26 $234,204.66
239 $234,204.66 $982.50 $0.00 $1,324.23 $236,511.39
240 $236,511.39 $982.50 $0.00 $1,337.27 $238,831.16
241 $238,831.16 $982.50 $126,994.79 $1,350.39 $114,169.26
242 $114,169.26 $982.50 $0.00 $645.53 $115,797.29
243 $115,797.29 $982.50 $0.00 $654.73 $117,434.52
244 $117,434.52 $982.50 $0.00 $663.99 $119,081.01
245 $119,081.01 $982.50 $0.00 $673.30 $120,736.81
246 $120,736.81 $982.50 $0.00 $682.66 $122,401.97
247 $122,401.97 $982.50 $0.00 $692.08 $124,076.55
248 $124,076.55 $982.50 $0.00 $701.55 $125,760.60
249 $125,760.60 $982.50 $0.00 $711.07 $127,454.17
250 $127,454.17 $982.50 $0.00 $720.64 $129,157.31
251 $129,157.31 $982.50 $0.00 $730.27 $130,870.08
252 $130,870.08 $982.50 $0.00 $739.96 $132,592.54
253 $132,592.54 $0.00 $133,344.53 $749.70 ($2.29)