Savings Plan and Future Cost Estimation for Spring Hill College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$145,835
Monthly savings required$1,153

How much will it cost to send your child to Spring Hill College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $583,340.70 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,152.56 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$38,872.00
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 $1,152.56 $0.00 $0.00 $1,152.56
2 $1,152.56 $1,152.56 $0.00 $6.52 $2,311.64
3 $2,311.64 $1,152.56 $0.00 $13.07 $3,477.27
4 $3,477.27 $1,152.56 $0.00 $19.66 $4,649.49
5 $4,649.49 $1,152.56 $0.00 $26.29 $5,828.34
6 $5,828.34 $1,152.56 $0.00 $32.95 $7,013.85
7 $7,013.85 $1,152.56 $0.00 $39.66 $8,206.07
8 $8,206.07 $1,152.56 $0.00 $46.40 $9,405.03
9 $9,405.03 $1,152.56 $0.00 $53.18 $10,610.77
10 $10,610.77 $1,152.56 $0.00 $59.99 $11,823.32
11 $11,823.32 $1,152.56 $0.00 $66.85 $13,042.73
12 $13,042.73 $1,152.56 $0.00 $73.75 $14,269.04
13 $14,269.04 $1,152.56 $0.00 $80.68 $15,502.28
14 $15,502.28 $1,152.56 $0.00 $87.65 $16,742.49
15 $16,742.49 $1,152.56 $0.00 $94.66 $17,989.71
16 $17,989.71 $1,152.56 $0.00 $101.72 $19,243.99
17 $19,243.99 $1,152.56 $0.00 $108.81 $20,505.36
18 $20,505.36 $1,152.56 $0.00 $115.94 $21,773.86
19 $21,773.86 $1,152.56 $0.00 $123.11 $23,049.53
20 $23,049.53 $1,152.56 $0.00 $130.33 $24,332.42
21 $24,332.42 $1,152.56 $0.00 $137.58 $25,622.56
22 $25,622.56 $1,152.56 $0.00 $144.87 $26,919.99
23 $26,919.99 $1,152.56 $0.00 $152.21 $28,224.76
24 $28,224.76 $1,152.56 $0.00 $159.59 $29,536.91
25 $29,536.91 $1,152.56 $0.00 $167.01 $30,856.48
26 $30,856.48 $1,152.56 $0.00 $174.47 $32,183.51
27 $32,183.51 $1,152.56 $0.00 $181.97 $33,518.04
28 $33,518.04 $1,152.56 $0.00 $189.52 $34,860.12
29 $34,860.12 $1,152.56 $0.00 $197.10 $36,209.78
30 $36,209.78 $1,152.56 $0.00 $204.74 $37,567.08
31 $37,567.08 $1,152.56 $0.00 $212.41 $38,932.05
32 $38,932.05 $1,152.56 $0.00 $220.13 $40,304.74
33 $40,304.74 $1,152.56 $0.00 $227.89 $41,685.19
34 $41,685.19 $1,152.56 $0.00 $235.69 $43,073.44
35 $43,073.44 $1,152.56 $0.00 $243.54 $44,469.54
36 $44,469.54 $1,152.56 $0.00 $251.44 $45,873.54
37 $45,873.54 $1,152.56 $0.00 $259.38 $47,285.48
38 $47,285.48 $1,152.56 $0.00 $267.36 $48,705.40
39 $48,705.40 $1,152.56 $0.00 $275.39 $50,133.35
40 $50,133.35 $1,152.56 $0.00 $283.46 $51,569.37
41 $51,569.37 $1,152.56 $0.00 $291.58 $53,013.51
42 $53,013.51 $1,152.56 $0.00 $299.75 $54,465.82
43 $54,465.82 $1,152.56 $0.00 $307.96 $55,926.34
44 $55,926.34 $1,152.56 $0.00 $316.22 $57,395.12
45 $57,395.12 $1,152.56 $0.00 $324.52 $58,872.20
46 $58,872.20 $1,152.56 $0.00 $332.87 $60,357.63
47 $60,357.63 $1,152.56 $0.00 $341.27 $61,851.46
48 $61,851.46 $1,152.56 $0.00 $349.72 $63,353.74
49 $63,353.74 $1,152.56 $0.00 $358.21 $64,864.51
50 $64,864.51 $1,152.56 $0.00 $366.75 $66,383.82
51 $66,383.82 $1,152.56 $0.00 $375.34 $67,911.72
52 $67,911.72 $1,152.56 $0.00 $383.98 $69,448.26
53 $69,448.26 $1,152.56 $0.00 $392.67 $70,993.49
54 $70,993.49 $1,152.56 $0.00 $401.41 $72,547.46
55 $72,547.46 $1,152.56 $0.00 $410.19 $74,110.21
56 $74,110.21 $1,152.56 $0.00 $419.03 $75,681.80
57 $75,681.80 $1,152.56 $0.00 $427.92 $77,262.28
58 $77,262.28 $1,152.56 $0.00 $436.85 $78,851.69
59 $78,851.69 $1,152.56 $0.00 $445.84 $80,450.09
60 $80,450.09 $1,152.56 $0.00 $454.88 $82,057.53
61 $82,057.53 $1,152.56 $0.00 $463.97 $83,674.06
62 $83,674.06 $1,152.56 $0.00 $473.11 $85,299.73
63 $85,299.73 $1,152.56 $0.00 $482.30 $86,934.59
64 $86,934.59 $1,152.56 $0.00 $491.54 $88,578.69
65 $88,578.69 $1,152.56 $0.00 $500.84 $90,232.09
66 $90,232.09 $1,152.56 $0.00 $510.19 $91,894.84
67 $91,894.84 $1,152.56 $0.00 $519.59 $93,566.99
68 $93,566.99 $1,152.56 $0.00 $529.04 $95,248.59
69 $95,248.59 $1,152.56 $0.00 $538.55 $96,939.70
70 $96,939.70 $1,152.56 $0.00 $548.11 $98,640.37
71 $98,640.37 $1,152.56 $0.00 $557.73 $100,350.66
72 $100,350.66 $1,152.56 $0.00 $567.40 $102,070.62
73 $102,070.62 $1,152.56 $0.00 $577.12 $103,800.30
74 $103,800.30 $1,152.56 $0.00 $586.90 $105,539.76
75 $105,539.76 $1,152.56 $0.00 $596.74 $107,289.06
76 $107,289.06 $1,152.56 $0.00 $606.63 $109,048.25
77 $109,048.25 $1,152.56 $0.00 $616.57 $110,817.38
78 $110,817.38 $1,152.56 $0.00 $626.58 $112,596.52
79 $112,596.52 $1,152.56 $0.00 $636.64 $114,385.72
80 $114,385.72 $1,152.56 $0.00 $646.75 $116,185.03
81 $116,185.03 $1,152.56 $0.00 $656.93 $117,994.52
82 $117,994.52 $1,152.56 $0.00 $667.16 $119,814.24
83 $119,814.24 $1,152.56 $0.00 $677.45 $121,644.25
84 $121,644.25 $1,152.56 $0.00 $687.79 $123,484.60
85 $123,484.60 $1,152.56 $0.00 $698.20 $125,335.36
86 $125,335.36 $1,152.56 $0.00 $708.66 $127,196.58
87 $127,196.58 $1,152.56 $0.00 $719.19 $129,068.33
88 $129,068.33 $1,152.56 $0.00 $729.77 $130,950.66
89 $130,950.66 $1,152.56 $0.00 $740.41 $132,843.63
90 $132,843.63 $1,152.56 $0.00 $751.12 $134,747.31
91 $134,747.31 $1,152.56 $0.00 $761.88 $136,661.75
92 $136,661.75 $1,152.56 $0.00 $772.71 $138,587.02
93 $138,587.02 $1,152.56 $0.00 $783.59 $140,523.17
94 $140,523.17 $1,152.56 $0.00 $794.54 $142,470.27
95 $142,470.27 $1,152.56 $0.00 $805.55 $144,428.38
96 $144,428.38 $1,152.56 $0.00 $816.62 $146,397.56
97 $146,397.56 $1,152.56 $0.00 $827.75 $148,377.87
98 $148,377.87 $1,152.56 $0.00 $838.95 $150,369.38
99 $150,369.38 $1,152.56 $0.00 $850.21 $152,372.15
100 $152,372.15 $1,152.56 $0.00 $861.53 $154,386.24
101 $154,386.24 $1,152.56 $0.00 $872.92 $156,411.72
102 $156,411.72 $1,152.56 $0.00 $884.37 $158,448.65
103 $158,448.65 $1,152.56 $0.00 $895.89 $160,497.10
104 $160,497.10 $1,152.56 $0.00 $907.47 $162,557.13
105 $162,557.13 $1,152.56 $0.00 $919.12 $164,628.81
106 $164,628.81 $1,152.56 $0.00 $930.84 $166,712.21
107 $166,712.21 $1,152.56 $0.00 $942.62 $168,807.39
108 $168,807.39 $1,152.56 $0.00 $954.46 $170,914.41
109 $170,914.41 $1,152.56 $0.00 $966.37 $173,033.34
110 $173,033.34 $1,152.56 $0.00 $978.36 $175,164.26
111 $175,164.26 $1,152.56 $0.00 $990.40 $177,307.22
112 $177,307.22 $1,152.56 $0.00 $1,002.52 $179,462.30
113 $179,462.30 $1,152.56 $0.00 $1,014.71 $181,629.57
114 $181,629.57 $1,152.56 $0.00 $1,026.96 $183,809.09
115 $183,809.09 $1,152.56 $0.00 $1,039.28 $186,000.93
116 $186,000.93 $1,152.56 $0.00 $1,051.68 $188,205.17
117 $188,205.17 $1,152.56 $0.00 $1,064.14 $190,421.87
118 $190,421.87 $1,152.56 $0.00 $1,076.67 $192,651.10
119 $192,651.10 $1,152.56 $0.00 $1,089.28 $194,892.94
120 $194,892.94 $1,152.56 $0.00 $1,101.95 $197,147.45
121 $197,147.45 $1,152.56 $0.00 $1,114.70 $199,414.71
122 $199,414.71 $1,152.56 $0.00 $1,127.52 $201,694.79
123 $201,694.79 $1,152.56 $0.00 $1,140.41 $203,987.76
124 $203,987.76 $1,152.56 $0.00 $1,153.38 $206,293.70
125 $206,293.70 $1,152.56 $0.00 $1,166.41 $208,612.67
126 $208,612.67 $1,152.56 $0.00 $1,179.53 $210,944.76
127 $210,944.76 $1,152.56 $0.00 $1,192.71 $213,290.03
128 $213,290.03 $1,152.56 $0.00 $1,205.97 $215,648.56
129 $215,648.56 $1,152.56 $0.00 $1,219.31 $218,020.43
130 $218,020.43 $1,152.56 $0.00 $1,232.72 $220,405.71
131 $220,405.71 $1,152.56 $0.00 $1,246.21 $222,804.48
132 $222,804.48 $1,152.56 $0.00 $1,259.77 $225,216.81
133 $225,216.81 $1,152.56 $0.00 $1,273.41 $227,642.78
134 $227,642.78 $1,152.56 $0.00 $1,287.13 $230,082.47
135 $230,082.47 $1,152.56 $0.00 $1,300.92 $232,535.95
136 $232,535.95 $1,152.56 $0.00 $1,314.79 $235,003.30
137 $235,003.30 $1,152.56 $0.00 $1,328.74 $237,484.60
138 $237,484.60 $1,152.56 $0.00 $1,342.77 $239,979.93
139 $239,979.93 $1,152.56 $0.00 $1,356.88 $242,489.37
140 $242,489.37 $1,152.56 $0.00 $1,371.07 $245,013.00
141 $245,013.00 $1,152.56 $0.00 $1,385.34 $247,550.90
142 $247,550.90 $1,152.56 $0.00 $1,399.69 $250,103.15
143 $250,103.15 $1,152.56 $0.00 $1,414.12 $252,669.83
144 $252,669.83 $1,152.56 $0.00 $1,428.63 $255,251.02
145 $255,251.02 $1,152.56 $0.00 $1,443.23 $257,846.81
146 $257,846.81 $1,152.56 $0.00 $1,457.90 $260,457.27
147 $260,457.27 $1,152.56 $0.00 $1,472.66 $263,082.49
148 $263,082.49 $1,152.56 $0.00 $1,487.51 $265,722.56
149 $265,722.56 $1,152.56 $0.00 $1,502.43 $268,377.55
150 $268,377.55 $1,152.56 $0.00 $1,517.45 $271,047.56
151 $271,047.56 $1,152.56 $0.00 $1,532.54 $273,732.66
152 $273,732.66 $1,152.56 $0.00 $1,547.72 $276,432.94
153 $276,432.94 $1,152.56 $0.00 $1,562.99 $279,148.49
154 $279,148.49 $1,152.56 $0.00 $1,578.35 $281,879.40
155 $281,879.40 $1,152.56 $0.00 $1,593.79 $284,625.75
156 $284,625.75 $1,152.56 $0.00 $1,609.32 $287,387.63
157 $287,387.63 $1,152.56 $0.00 $1,624.93 $290,165.12
158 $290,165.12 $1,152.56 $0.00 $1,640.64 $292,958.32
159 $292,958.32 $1,152.56 $0.00 $1,656.43 $295,767.31
160 $295,767.31 $1,152.56 $0.00 $1,672.31 $298,592.18
161 $298,592.18 $1,152.56 $0.00 $1,688.28 $301,433.02
162 $301,433.02 $1,152.56 $0.00 $1,704.35 $304,289.93
163 $304,289.93 $1,152.56 $0.00 $1,720.50 $307,162.99
164 $307,162.99 $1,152.56 $0.00 $1,736.74 $310,052.29
165 $310,052.29 $1,152.56 $0.00 $1,753.08 $312,957.93
166 $312,957.93 $1,152.56 $0.00 $1,769.51 $315,880.00
167 $315,880.00 $1,152.56 $0.00 $1,786.03 $318,818.59
168 $318,818.59 $1,152.56 $0.00 $1,802.65 $321,773.80
169 $321,773.80 $1,152.56 $0.00 $1,819.36 $324,745.72
170 $324,745.72 $1,152.56 $0.00 $1,836.16 $327,734.44
171 $327,734.44 $1,152.56 $0.00 $1,853.06 $330,740.06
172 $330,740.06 $1,152.56 $0.00 $1,870.05 $333,762.67
173 $333,762.67 $1,152.56 $0.00 $1,887.14 $336,802.37
174 $336,802.37 $1,152.56 $0.00 $1,904.33 $339,859.26
175 $339,859.26 $1,152.56 $0.00 $1,921.61 $342,933.43
176 $342,933.43 $1,152.56 $0.00 $1,939.00 $346,024.99
177 $346,024.99 $1,152.56 $0.00 $1,956.48 $349,134.03
178 $349,134.03 $1,152.56 $0.00 $1,974.05 $352,260.64
179 $352,260.64 $1,152.56 $0.00 $1,991.73 $355,404.93
180 $355,404.93 $1,152.56 $0.00 $2,009.51 $358,567.00
181 $358,567.00 $1,152.56 $0.00 $2,027.39 $361,746.95
182 $361,746.95 $1,152.56 $0.00 $2,045.37 $364,944.88
183 $364,944.88 $1,152.56 $0.00 $2,063.45 $368,160.89
184 $368,160.89 $1,152.56 $0.00 $2,081.64 $371,395.09
185 $371,395.09 $1,152.56 $0.00 $2,099.92 $374,647.57
186 $374,647.57 $1,152.56 $0.00 $2,118.31 $377,918.44
187 $377,918.44 $1,152.56 $0.00 $2,136.81 $381,207.81
188 $381,207.81 $1,152.56 $0.00 $2,155.40 $384,515.77
189 $384,515.77 $1,152.56 $0.00 $2,174.11 $387,842.44
190 $387,842.44 $1,152.56 $0.00 $2,192.92 $391,187.92
191 $391,187.92 $1,152.56 $0.00 $2,211.83 $394,552.31
192 $394,552.31 $1,152.56 $0.00 $2,230.86 $397,935.73
193 $397,935.73 $1,152.56 $0.00 $2,249.99 $401,338.28
194 $401,338.28 $1,152.56 $0.00 $2,269.22 $404,760.06
195 $404,760.06 $1,152.56 $0.00 $2,288.57 $408,201.19
196 $408,201.19 $1,152.56 $0.00 $2,308.03 $411,661.78
197 $411,661.78 $1,152.56 $0.00 $2,327.60 $415,141.94
198 $415,141.94 $1,152.56 $0.00 $2,347.27 $418,641.77
199 $418,641.77 $1,152.56 $0.00 $2,367.06 $422,161.39
200 $422,161.39 $1,152.56 $0.00 $2,386.96 $425,700.91
201 $425,700.91 $1,152.56 $0.00 $2,406.97 $429,260.44
202 $429,260.44 $1,152.56 $0.00 $2,427.10 $432,840.10
203 $432,840.10 $1,152.56 $0.00 $2,447.34 $436,440.00
204 $436,440.00 $1,152.56 $0.00 $2,467.70 $440,060.26
205 $440,060.26 $1,152.56 $0.00 $2,488.16 $443,700.98
206 $443,700.98 $1,152.56 $0.00 $2,508.75 $447,362.29
207 $447,362.29 $1,152.56 $0.00 $2,529.45 $451,044.30
208 $451,044.30 $1,152.56 $0.00 $2,550.27 $454,747.13
209 $454,747.13 $1,152.56 $0.00 $2,571.21 $458,470.90
210 $458,470.90 $1,152.56 $0.00 $2,592.26 $462,215.72
211 $462,215.72 $1,152.56 $0.00 $2,613.43 $465,981.71
212 $465,981.71 $1,152.56 $0.00 $2,634.73 $469,769.00
213 $469,769.00 $1,152.56 $0.00 $2,656.14 $473,577.70
214 $473,577.70 $1,152.56 $0.00 $2,677.68 $477,407.94
215 $477,407.94 $1,152.56 $0.00 $2,699.33 $481,259.83
216 $481,259.83 $1,152.56 $0.00 $2,721.11 $485,133.50
217 $485,133.50 $1,152.56 $131,384.73 $2,743.02 $357,644.35
218 $357,644.35 $1,152.56 $0.00 $2,022.17 $360,819.08
219 $360,819.08 $1,152.56 $0.00 $2,040.12 $364,011.76
220 $364,011.76 $1,152.56 $0.00 $2,058.18 $367,222.50
221 $367,222.50 $1,152.56 $0.00 $2,076.33 $370,451.39
222 $370,451.39 $1,152.56 $0.00 $2,094.59 $373,698.54
223 $373,698.54 $1,152.56 $0.00 $2,112.95 $376,964.05
224 $376,964.05 $1,152.56 $0.00 $2,131.41 $380,248.02
225 $380,248.02 $1,152.56 $0.00 $2,149.98 $383,550.56
226 $383,550.56 $1,152.56 $0.00 $2,168.65 $386,871.77
227 $386,871.77 $1,152.56 $0.00 $2,187.43 $390,211.76
228 $390,211.76 $1,152.56 $0.00 $2,206.31 $393,570.63
229 $393,570.63 $1,152.56 $140,581.66 $2,225.31 $256,366.84
230 $256,366.84 $1,152.56 $0.00 $1,449.54 $258,968.94
231 $258,968.94 $1,152.56 $0.00 $1,464.25 $261,585.75
232 $261,585.75 $1,152.56 $0.00 $1,479.04 $264,217.35
233 $264,217.35 $1,152.56 $0.00 $1,493.92 $266,863.83
234 $266,863.83 $1,152.56 $0.00 $1,508.89 $269,525.28
235 $269,525.28 $1,152.56 $0.00 $1,523.94 $272,201.78
236 $272,201.78 $1,152.56 $0.00 $1,539.07 $274,893.41
237 $274,893.41 $1,152.56 $0.00 $1,554.29 $277,600.26
238 $277,600.26 $1,152.56 $0.00 $1,569.59 $280,322.41
239 $280,322.41 $1,152.56 $0.00 $1,584.98 $283,059.95
240 $283,059.95 $1,152.56 $0.00 $1,600.46 $285,812.97
241 $285,812.97 $1,152.56 $150,422.37 $1,616.03 $138,159.19
242 $138,159.19 $1,152.56 $0.00 $781.17 $140,092.92
243 $140,092.92 $1,152.56 $0.00 $792.11 $142,037.59
244 $142,037.59 $1,152.56 $0.00 $803.10 $143,993.25
245 $143,993.25 $1,152.56 $0.00 $814.16 $145,959.97
246 $145,959.97 $1,152.56 $0.00 $825.28 $147,937.81
247 $147,937.81 $1,152.56 $0.00 $836.46 $149,926.83
248 $149,926.83 $1,152.56 $0.00 $847.71 $151,927.10
249 $151,927.10 $1,152.56 $0.00 $859.02 $153,938.68
250 $153,938.68 $1,152.56 $0.00 $870.39 $155,961.63
251 $155,961.63 $1,152.56 $0.00 $881.83 $157,996.02
252 $157,996.02 $1,152.56 $0.00 $893.33 $160,041.91
253 $160,041.91 $0.00 $160,951.94 $904.90 -$5.13