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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$51,371
Monthly savings required$407

How much will it cost to send your child to Selma University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $205,485.76 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $406.65 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$19,810.00
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 $406.65 $0.00 $0.00 $406.65
2 $406.65 $406.65 $0.00 $2.30 $815.60
3 $815.60 $406.65 $0.00 $4.61 $1,226.86
4 $1,226.86 $406.65 $0.00 $6.94 $1,640.45
5 $1,640.45 $406.65 $0.00 $9.28 $2,056.38
6 $2,056.38 $406.65 $0.00 $11.63 $2,474.66
7 $2,474.66 $406.65 $0.00 $13.99 $2,895.30
8 $2,895.30 $406.65 $0.00 $16.37 $3,318.32
9 $3,318.32 $406.65 $0.00 $18.76 $3,743.73
10 $3,743.73 $406.65 $0.00 $21.17 $4,171.55
11 $4,171.55 $406.65 $0.00 $23.59 $4,601.79
12 $4,601.79 $406.65 $0.00 $26.02 $5,034.46
13 $5,034.46 $406.65 $0.00 $28.47 $5,469.58
14 $5,469.58 $406.65 $0.00 $30.93 $5,907.16
15 $5,907.16 $406.65 $0.00 $33.40 $6,347.21
16 $6,347.21 $406.65 $0.00 $35.89 $6,789.75
17 $6,789.75 $406.65 $0.00 $38.39 $7,234.79
18 $7,234.79 $406.65 $0.00 $40.91 $7,682.35
19 $7,682.35 $406.65 $0.00 $43.44 $8,132.44
20 $8,132.44 $406.65 $0.00 $45.98 $8,585.07
21 $8,585.07 $406.65 $0.00 $48.54 $9,040.26
22 $9,040.26 $406.65 $0.00 $51.11 $9,498.02
23 $9,498.02 $406.65 $0.00 $53.70 $9,958.37
24 $9,958.37 $406.65 $0.00 $56.31 $10,421.33
25 $10,421.33 $406.65 $0.00 $58.92 $10,886.90
26 $10,886.90 $406.65 $0.00 $61.56 $11,355.11
27 $11,355.11 $406.65 $0.00 $64.20 $11,825.96
28 $11,825.96 $406.65 $0.00 $66.87 $12,299.48
29 $12,299.48 $406.65 $0.00 $69.54 $12,775.67
30 $12,775.67 $406.65 $0.00 $72.24 $13,254.56
31 $13,254.56 $406.65 $0.00 $74.94 $13,736.15
32 $13,736.15 $406.65 $0.00 $77.67 $14,220.47
33 $14,220.47 $406.65 $0.00 $80.40 $14,707.52
34 $14,707.52 $406.65 $0.00 $83.16 $15,197.33
35 $15,197.33 $406.65 $0.00 $85.93 $15,689.91
36 $15,689.91 $406.65 $0.00 $88.71 $16,185.27
37 $16,185.27 $406.65 $0.00 $91.51 $16,683.43
38 $16,683.43 $406.65 $0.00 $94.33 $17,184.41
39 $17,184.41 $406.65 $0.00 $97.16 $17,688.22
40 $17,688.22 $406.65 $0.00 $100.01 $18,194.88
41 $18,194.88 $406.65 $0.00 $102.88 $18,704.41
42 $18,704.41 $406.65 $0.00 $105.76 $19,216.82
43 $19,216.82 $406.65 $0.00 $108.65 $19,732.12
44 $19,732.12 $406.65 $0.00 $111.57 $20,250.34
45 $20,250.34 $406.65 $0.00 $114.50 $20,771.49
46 $20,771.49 $406.65 $0.00 $117.45 $21,295.59
47 $21,295.59 $406.65 $0.00 $120.41 $21,822.65
48 $21,822.65 $406.65 $0.00 $123.39 $22,352.69
49 $22,352.69 $406.65 $0.00 $126.39 $22,885.73
50 $22,885.73 $406.65 $0.00 $129.40 $23,421.78
51 $23,421.78 $406.65 $0.00 $132.43 $23,960.86
52 $23,960.86 $406.65 $0.00 $135.48 $24,502.99
53 $24,502.99 $406.65 $0.00 $138.54 $25,048.18
54 $25,048.18 $406.65 $0.00 $141.63 $25,596.46
55 $25,596.46 $406.65 $0.00 $144.73 $26,147.84
56 $26,147.84 $406.65 $0.00 $147.84 $26,702.33
57 $26,702.33 $406.65 $0.00 $150.98 $27,259.96
58 $27,259.96 $406.65 $0.00 $154.13 $27,820.74
59 $27,820.74 $406.65 $0.00 $157.30 $28,384.69
60 $28,384.69 $406.65 $0.00 $160.49 $28,951.83
61 $28,951.83 $406.65 $0.00 $163.70 $29,522.18
62 $29,522.18 $406.65 $0.00 $166.92 $30,095.75
63 $30,095.75 $406.65 $0.00 $170.17 $30,672.57
64 $30,672.57 $406.65 $0.00 $173.43 $31,252.65
65 $31,252.65 $406.65 $0.00 $176.71 $31,836.01
66 $31,836.01 $406.65 $0.00 $180.01 $32,422.67
67 $32,422.67 $406.65 $0.00 $183.32 $33,012.64
68 $33,012.64 $406.65 $0.00 $186.66 $33,605.95
69 $33,605.95 $406.65 $0.00 $190.01 $34,202.61
70 $34,202.61 $406.65 $0.00 $193.39 $34,802.65
71 $34,802.65 $406.65 $0.00 $196.78 $35,406.08
72 $35,406.08 $406.65 $0.00 $200.19 $36,012.92
73 $36,012.92 $406.65 $0.00 $203.62 $36,623.19
74 $36,623.19 $406.65 $0.00 $207.07 $37,236.91
75 $37,236.91 $406.65 $0.00 $210.54 $37,854.10
76 $37,854.10 $406.65 $0.00 $214.03 $38,474.78
77 $38,474.78 $406.65 $0.00 $217.54 $39,098.97
78 $39,098.97 $406.65 $0.00 $221.07 $39,726.69
79 $39,726.69 $406.65 $0.00 $224.62 $40,357.96
80 $40,357.96 $406.65 $0.00 $228.19 $40,992.80
81 $40,992.80 $406.65 $0.00 $231.78 $41,631.23
82 $41,631.23 $406.65 $0.00 $235.39 $42,273.27
83 $42,273.27 $406.65 $0.00 $239.02 $42,918.94
84 $42,918.94 $406.65 $0.00 $242.67 $43,568.26
85 $43,568.26 $406.65 $0.00 $246.34 $44,221.25
86 $44,221.25 $406.65 $0.00 $250.03 $44,877.93
87 $44,877.93 $406.65 $0.00 $253.75 $45,538.33
88 $45,538.33 $406.65 $0.00 $257.48 $46,202.46
89 $46,202.46 $406.65 $0.00 $261.24 $46,870.35
90 $46,870.35 $406.65 $0.00 $265.01 $47,542.01
91 $47,542.01 $406.65 $0.00 $268.81 $48,217.47
92 $48,217.47 $406.65 $0.00 $272.63 $48,896.75
93 $48,896.75 $406.65 $0.00 $276.47 $49,579.87
94 $49,579.87 $406.65 $0.00 $280.33 $50,266.85
95 $50,266.85 $406.65 $0.00 $284.22 $50,957.72
96 $50,957.72 $406.65 $0.00 $288.12 $51,652.49
97 $51,652.49 $406.65 $0.00 $292.05 $52,351.19
98 $52,351.19 $406.65 $0.00 $296.00 $53,053.84
99 $53,053.84 $406.65 $0.00 $299.97 $53,760.46
100 $53,760.46 $406.65 $0.00 $303.97 $54,471.08
101 $54,471.08 $406.65 $0.00 $307.99 $55,185.72
102 $55,185.72 $406.65 $0.00 $312.03 $55,904.40
103 $55,904.40 $406.65 $0.00 $316.09 $56,627.14
104 $56,627.14 $406.65 $0.00 $320.18 $57,353.97
105 $57,353.97 $406.65 $0.00 $324.29 $58,084.91
106 $58,084.91 $406.65 $0.00 $328.42 $58,819.98
107 $58,819.98 $406.65 $0.00 $332.58 $59,559.21
108 $59,559.21 $406.65 $0.00 $336.76 $60,302.62
109 $60,302.62 $406.65 $0.00 $340.96 $61,050.23
110 $61,050.23 $406.65 $0.00 $345.19 $61,802.07
111 $61,802.07 $406.65 $0.00 $349.44 $62,558.16
112 $62,558.16 $406.65 $0.00 $353.71 $63,318.52
113 $63,318.52 $406.65 $0.00 $358.01 $64,083.18
114 $64,083.18 $406.65 $0.00 $362.34 $64,852.17
115 $64,852.17 $406.65 $0.00 $366.68 $65,625.50
116 $65,625.50 $406.65 $0.00 $371.06 $66,403.21
117 $66,403.21 $406.65 $0.00 $375.45 $67,185.31
118 $67,185.31 $406.65 $0.00 $379.88 $67,971.84
119 $67,971.84 $406.65 $0.00 $384.32 $68,762.81
120 $68,762.81 $406.65 $0.00 $388.79 $69,558.25
121 $69,558.25 $406.65 $0.00 $393.29 $70,358.19
122 $70,358.19 $406.65 $0.00 $397.82 $71,162.66
123 $71,162.66 $406.65 $0.00 $402.36 $71,971.67
124 $71,971.67 $406.65 $0.00 $406.94 $72,785.26
125 $72,785.26 $406.65 $0.00 $411.54 $73,603.45
126 $73,603.45 $406.65 $0.00 $416.16 $74,426.26
127 $74,426.26 $406.65 $0.00 $420.82 $75,253.73
128 $75,253.73 $406.65 $0.00 $425.50 $76,085.88
129 $76,085.88 $406.65 $0.00 $430.20 $76,922.73
130 $76,922.73 $406.65 $0.00 $434.93 $77,764.31
131 $77,764.31 $406.65 $0.00 $439.69 $78,610.65
132 $78,610.65 $406.65 $0.00 $444.48 $79,461.78
133 $79,461.78 $406.65 $0.00 $449.29 $80,317.72
134 $80,317.72 $406.65 $0.00 $454.13 $81,178.50
135 $81,178.50 $406.65 $0.00 $459.00 $82,044.15
136 $82,044.15 $406.65 $0.00 $463.89 $82,914.69
137 $82,914.69 $406.65 $0.00 $468.81 $83,790.15
138 $83,790.15 $406.65 $0.00 $473.76 $84,670.56
139 $84,670.56 $406.65 $0.00 $478.74 $85,555.95
140 $85,555.95 $406.65 $0.00 $483.75 $86,446.35
141 $86,446.35 $406.65 $0.00 $488.78 $87,341.78
142 $87,341.78 $406.65 $0.00 $493.84 $88,242.27
143 $88,242.27 $406.65 $0.00 $498.93 $89,147.85
144 $89,147.85 $406.65 $0.00 $504.05 $90,058.55
145 $90,058.55 $406.65 $0.00 $509.20 $90,974.40
146 $90,974.40 $406.65 $0.00 $514.38 $91,895.43
147 $91,895.43 $406.65 $0.00 $519.59 $92,821.67
148 $92,821.67 $406.65 $0.00 $524.83 $93,753.15
149 $93,753.15 $406.65 $0.00 $530.09 $94,689.89
150 $94,689.89 $406.65 $0.00 $535.39 $95,631.93
151 $95,631.93 $406.65 $0.00 $540.72 $96,579.30
152 $96,579.30 $406.65 $0.00 $546.07 $97,532.02
153 $97,532.02 $406.65 $0.00 $551.46 $98,490.13
154 $98,490.13 $406.65 $0.00 $556.88 $99,453.66
155 $99,453.66 $406.65 $0.00 $562.33 $100,422.64
156 $100,422.64 $406.65 $0.00 $567.80 $101,397.09
157 $101,397.09 $406.65 $0.00 $573.31 $102,377.05
158 $102,377.05 $406.65 $0.00 $578.85 $103,362.55
159 $103,362.55 $406.65 $0.00 $584.43 $104,353.63
160 $104,353.63 $406.65 $0.00 $590.03 $105,350.31
161 $105,350.31 $406.65 $0.00 $595.67 $106,352.63
162 $106,352.63 $406.65 $0.00 $601.33 $107,360.61
163 $107,360.61 $406.65 $0.00 $607.03 $108,374.29
164 $108,374.29 $406.65 $0.00 $612.76 $109,393.70
165 $109,393.70 $406.65 $0.00 $618.53 $110,418.88
166 $110,418.88 $406.65 $0.00 $624.32 $111,449.85
167 $111,449.85 $406.65 $0.00 $630.15 $112,486.65
168 $112,486.65 $406.65 $0.00 $636.02 $113,529.32
169 $113,529.32 $406.65 $0.00 $641.91 $114,577.88
170 $114,577.88 $406.65 $0.00 $647.84 $115,632.37
171 $115,632.37 $406.65 $0.00 $653.80 $116,692.82
172 $116,692.82 $406.65 $0.00 $659.80 $117,759.27
173 $117,759.27 $406.65 $0.00 $665.83 $118,831.75
174 $118,831.75 $406.65 $0.00 $671.89 $119,910.29
175 $119,910.29 $406.65 $0.00 $677.99 $120,994.93
176 $120,994.93 $406.65 $0.00 $684.12 $122,085.70
177 $122,085.70 $406.65 $0.00 $690.29 $123,182.64
178 $123,182.64 $406.65 $0.00 $696.49 $124,285.78
179 $124,285.78 $406.65 $0.00 $702.73 $125,395.16
180 $125,395.16 $406.65 $0.00 $709.00 $126,510.81
181 $126,510.81 $406.65 $0.00 $715.31 $127,632.77
182 $127,632.77 $406.65 $0.00 $721.65 $128,761.07
183 $128,761.07 $406.65 $0.00 $728.03 $129,895.75
184 $129,895.75 $406.65 $0.00 $734.45 $131,036.85
185 $131,036.85 $406.65 $0.00 $740.90 $132,184.40
186 $132,184.40 $406.65 $0.00 $747.39 $133,338.44
187 $133,338.44 $406.65 $0.00 $753.91 $134,499.00
188 $134,499.00 $406.65 $0.00 $760.48 $135,666.13
189 $135,666.13 $406.65 $0.00 $767.08 $136,839.86
190 $136,839.86 $406.65 $0.00 $773.71 $138,020.22
191 $138,020.22 $406.65 $0.00 $780.39 $139,207.26
192 $139,207.26 $406.65 $0.00 $787.10 $140,401.01
193 $140,401.01 $406.65 $0.00 $793.85 $141,601.51
194 $141,601.51 $406.65 $0.00 $800.64 $142,808.80
195 $142,808.80 $406.65 $0.00 $807.46 $144,022.91
196 $144,022.91 $406.65 $0.00 $814.33 $145,243.89
197 $145,243.89 $406.65 $0.00 $821.23 $146,471.77
198 $146,471.77 $406.65 $0.00 $828.17 $147,706.59
199 $147,706.59 $406.65 $0.00 $835.15 $148,948.39
200 $148,948.39 $406.65 $0.00 $842.18 $150,197.22
201 $150,197.22 $406.65 $0.00 $849.24 $151,453.11
202 $151,453.11 $406.65 $0.00 $856.34 $152,716.10
203 $152,716.10 $406.65 $0.00 $863.48 $153,986.23
204 $153,986.23 $406.65 $0.00 $870.66 $155,263.54
205 $155,263.54 $406.65 $0.00 $877.88 $156,548.07
206 $156,548.07 $406.65 $0.00 $885.15 $157,839.87
207 $157,839.87 $406.65 $0.00 $892.45 $159,138.97
208 $159,138.97 $406.65 $0.00 $899.79 $160,445.41
209 $160,445.41 $406.65 $0.00 $907.18 $161,759.24
210 $161,759.24 $406.65 $0.00 $914.61 $163,080.50
211 $163,080.50 $406.65 $0.00 $922.08 $164,409.23
212 $164,409.23 $406.65 $0.00 $929.59 $165,745.47
213 $165,745.47 $406.65 $0.00 $937.15 $167,089.27
214 $167,089.27 $406.65 $0.00 $944.75 $168,440.67
215 $168,440.67 $406.65 $0.00 $952.39 $169,799.71
216 $169,799.71 $406.65 $0.00 $960.07 $171,166.43
217 $171,166.43 $406.65 $47,675.13 $967.80 $124,865.75
218 $124,865.75 $406.65 $0.00 $706.01 $125,978.41
219 $125,978.41 $406.65 $0.00 $712.30 $127,097.36
220 $127,097.36 $406.65 $0.00 $718.63 $128,222.64
221 $128,222.64 $406.65 $0.00 $724.99 $129,354.28
222 $129,354.28 $406.65 $0.00 $731.39 $130,492.32
223 $130,492.32 $406.65 $0.00 $737.82 $131,636.79
224 $131,636.79 $406.65 $0.00 $744.29 $132,787.73
225 $132,787.73 $406.65 $0.00 $750.80 $133,945.18
226 $133,945.18 $406.65 $0.00 $757.35 $135,109.18
227 $135,109.18 $406.65 $0.00 $763.93 $136,279.76
228 $136,279.76 $406.65 $0.00 $770.55 $137,456.96
229 $137,456.96 $406.65 $50,058.88 $777.20 $88,581.93
230 $88,581.93 $406.65 $0.00 $500.86 $89,489.44
231 $89,489.44 $406.65 $0.00 $505.99 $90,402.08
232 $90,402.08 $406.65 $0.00 $511.15 $91,319.88
233 $91,319.88 $406.65 $0.00 $516.34 $92,242.87
234 $92,242.87 $406.65 $0.00 $521.55 $93,171.07
235 $93,171.07 $406.65 $0.00 $526.80 $94,104.52
236 $94,104.52 $406.65 $0.00 $532.08 $95,043.25
237 $95,043.25 $406.65 $0.00 $537.39 $95,987.29
238 $95,987.29 $406.65 $0.00 $542.73 $96,936.67
239 $96,936.67 $406.65 $0.00 $548.09 $97,891.41
240 $97,891.41 $406.65 $0.00 $553.49 $98,851.55
241 $98,851.55 $406.65 $52,561.83 $558.92 $47,255.29
242 $47,255.29 $406.65 $0.00 $267.19 $47,929.13
243 $47,929.13 $406.65 $0.00 $271.00 $48,606.78
244 $48,606.78 $406.65 $0.00 $274.83 $49,288.26
245 $49,288.26 $406.65 $0.00 $278.68 $49,973.59
246 $49,973.59 $406.65 $0.00 $282.56 $50,662.80
247 $50,662.80 $406.65 $0.00 $286.45 $51,355.90
248 $51,355.90 $406.65 $0.00 $290.37 $52,052.92
249 $52,052.92 $406.65 $0.00 $294.31 $52,753.88
250 $52,753.88 $406.65 $0.00 $298.28 $53,458.81
251 $53,458.81 $406.65 $0.00 $302.26 $54,167.72
252 $54,167.72 $406.65 $0.00 $306.27 $54,880.64
253 $54,880.64 $0.00 $55,189.92 $310.30 $1.02