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 2040$157,001
Monthly savings required$1,243

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 $628,002.23 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,242.79 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$60,543.00
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 $1,242.79 $0.00 $0.00 $1,242.79
2 $1,242.79 $1,242.79 $0.00 $7.03 $2,492.61
3 $2,492.61 $1,242.79 $0.00 $14.09 $3,749.49
4 $3,749.49 $1,242.79 $0.00 $21.20 $5,013.48
5 $5,013.48 $1,242.79 $0.00 $28.35 $6,284.62
6 $6,284.62 $1,242.79 $0.00 $35.53 $7,562.94
7 $7,562.94 $1,242.79 $0.00 $42.76 $8,848.49
8 $8,848.49 $1,242.79 $0.00 $50.03 $10,141.31
9 $10,141.31 $1,242.79 $0.00 $57.34 $11,441.44
10 $11,441.44 $1,242.79 $0.00 $64.69 $12,748.92
11 $12,748.92 $1,242.79 $0.00 $72.08 $14,063.79
12 $14,063.79 $1,242.79 $0.00 $79.52 $15,386.10
13 $15,386.10 $1,242.79 $0.00 $87.00 $16,715.89
14 $16,715.89 $1,242.79 $0.00 $94.51 $18,053.19
15 $18,053.19 $1,242.79 $0.00 $102.08 $19,398.06
16 $19,398.06 $1,242.79 $0.00 $109.68 $20,750.53
17 $20,750.53 $1,242.79 $0.00 $117.33 $22,110.65
18 $22,110.65 $1,242.79 $0.00 $125.02 $23,478.46
19 $23,478.46 $1,242.79 $0.00 $132.75 $24,854.00
20 $24,854.00 $1,242.79 $0.00 $140.53 $26,237.32
21 $26,237.32 $1,242.79 $0.00 $148.35 $27,628.46
22 $27,628.46 $1,242.79 $0.00 $156.22 $29,027.47
23 $29,027.47 $1,242.79 $0.00 $164.13 $30,434.39
24 $30,434.39 $1,242.79 $0.00 $172.08 $31,849.26
25 $31,849.26 $1,242.79 $0.00 $180.08 $33,272.13
26 $33,272.13 $1,242.79 $0.00 $188.13 $34,703.05
27 $34,703.05 $1,242.79 $0.00 $196.22 $36,142.06
28 $36,142.06 $1,242.79 $0.00 $204.35 $37,589.20
29 $37,589.20 $1,242.79 $0.00 $212.53 $39,044.52
30 $39,044.52 $1,242.79 $0.00 $220.76 $40,508.07
31 $40,508.07 $1,242.79 $0.00 $229.04 $41,979.90
32 $41,979.90 $1,242.79 $0.00 $237.36 $43,460.05
33 $43,460.05 $1,242.79 $0.00 $245.73 $44,948.57
34 $44,948.57 $1,242.79 $0.00 $254.15 $46,445.51
35 $46,445.51 $1,242.79 $0.00 $262.61 $47,950.91
36 $47,950.91 $1,242.79 $0.00 $271.12 $49,464.82
37 $49,464.82 $1,242.79 $0.00 $279.68 $50,987.29
38 $50,987.29 $1,242.79 $0.00 $288.29 $52,518.37
39 $52,518.37 $1,242.79 $0.00 $296.95 $54,058.11
40 $54,058.11 $1,242.79 $0.00 $305.65 $55,606.55
41 $55,606.55 $1,242.79 $0.00 $314.41 $57,163.75
42 $57,163.75 $1,242.79 $0.00 $323.21 $58,729.75
43 $58,729.75 $1,242.79 $0.00 $332.07 $60,304.61
44 $60,304.61 $1,242.79 $0.00 $340.97 $61,888.37
45 $61,888.37 $1,242.79 $0.00 $349.93 $63,481.09
46 $63,481.09 $1,242.79 $0.00 $358.93 $65,082.81
47 $65,082.81 $1,242.79 $0.00 $367.99 $66,693.59
48 $66,693.59 $1,242.79 $0.00 $377.10 $68,313.48
49 $68,313.48 $1,242.79 $0.00 $386.25 $69,942.52
50 $69,942.52 $1,242.79 $0.00 $395.47 $71,580.78
51 $71,580.78 $1,242.79 $0.00 $404.73 $73,228.30
52 $73,228.30 $1,242.79 $0.00 $414.04 $74,885.13
53 $74,885.13 $1,242.79 $0.00 $423.41 $76,551.33
54 $76,551.33 $1,242.79 $0.00 $432.83 $78,226.95
55 $78,226.95 $1,242.79 $0.00 $442.31 $79,912.05
56 $79,912.05 $1,242.79 $0.00 $451.83 $81,606.67
57 $81,606.67 $1,242.79 $0.00 $461.42 $83,310.88
58 $83,310.88 $1,242.79 $0.00 $471.05 $85,024.72
59 $85,024.72 $1,242.79 $0.00 $480.74 $86,748.25
60 $86,748.25 $1,242.79 $0.00 $490.49 $88,481.53
61 $88,481.53 $1,242.79 $0.00 $500.29 $90,224.61
62 $90,224.61 $1,242.79 $0.00 $510.14 $91,977.54
63 $91,977.54 $1,242.79 $0.00 $520.05 $93,740.38
64 $93,740.38 $1,242.79 $0.00 $530.02 $95,513.19
65 $95,513.19 $1,242.79 $0.00 $540.05 $97,296.03
66 $97,296.03 $1,242.79 $0.00 $550.13 $99,088.95
67 $99,088.95 $1,242.79 $0.00 $560.26 $100,892.00
68 $100,892.00 $1,242.79 $0.00 $570.46 $102,705.25
69 $102,705.25 $1,242.79 $0.00 $580.71 $104,528.75
70 $104,528.75 $1,242.79 $0.00 $591.02 $106,362.56
71 $106,362.56 $1,242.79 $0.00 $601.39 $108,206.74
72 $108,206.74 $1,242.79 $0.00 $611.82 $110,061.35
73 $110,061.35 $1,242.79 $0.00 $622.30 $111,926.44
74 $111,926.44 $1,242.79 $0.00 $632.85 $113,802.08
75 $113,802.08 $1,242.79 $0.00 $643.45 $115,688.32
76 $115,688.32 $1,242.79 $0.00 $654.12 $117,585.23
77 $117,585.23 $1,242.79 $0.00 $664.84 $119,492.86
78 $119,492.86 $1,242.79 $0.00 $675.63 $121,411.28
79 $121,411.28 $1,242.79 $0.00 $686.48 $123,340.55
80 $123,340.55 $1,242.79 $0.00 $697.39 $125,280.73
81 $125,280.73 $1,242.79 $0.00 $708.36 $127,231.88
82 $127,231.88 $1,242.79 $0.00 $719.39 $129,194.06
83 $129,194.06 $1,242.79 $0.00 $730.48 $131,167.33
84 $131,167.33 $1,242.79 $0.00 $741.64 $133,151.76
85 $133,151.76 $1,242.79 $0.00 $752.86 $135,147.41
86 $135,147.41 $1,242.79 $0.00 $764.14 $137,154.34
87 $137,154.34 $1,242.79 $0.00 $775.49 $139,172.62
88 $139,172.62 $1,242.79 $0.00 $786.90 $141,202.31
89 $141,202.31 $1,242.79 $0.00 $798.38 $143,243.48
90 $143,243.48 $1,242.79 $0.00 $809.92 $145,296.19
91 $145,296.19 $1,242.79 $0.00 $821.53 $147,360.51
92 $147,360.51 $1,242.79 $0.00 $833.20 $149,436.50
93 $149,436.50 $1,242.79 $0.00 $844.94 $151,524.23
94 $151,524.23 $1,242.79 $0.00 $856.74 $153,623.76
95 $153,623.76 $1,242.79 $0.00 $868.61 $155,735.16
96 $155,735.16 $1,242.79 $0.00 $880.55 $157,858.50
97 $157,858.50 $1,242.79 $0.00 $892.55 $159,993.84
98 $159,993.84 $1,242.79 $0.00 $904.63 $162,141.26
99 $162,141.26 $1,242.79 $0.00 $916.77 $164,300.82
100 $164,300.82 $1,242.79 $0.00 $928.98 $166,472.59
101 $166,472.59 $1,242.79 $0.00 $941.26 $168,656.64
102 $168,656.64 $1,242.79 $0.00 $953.61 $170,853.04
103 $170,853.04 $1,242.79 $0.00 $966.03 $173,061.86
104 $173,061.86 $1,242.79 $0.00 $978.52 $175,283.17
105 $175,283.17 $1,242.79 $0.00 $991.08 $177,517.04
106 $177,517.04 $1,242.79 $0.00 $1,003.71 $179,763.54
107 $179,763.54 $1,242.79 $0.00 $1,016.41 $182,022.74
108 $182,022.74 $1,242.79 $0.00 $1,029.18 $184,294.71
109 $184,294.71 $1,242.79 $0.00 $1,042.03 $186,579.53
110 $186,579.53 $1,242.79 $0.00 $1,054.95 $188,877.27
111 $188,877.27 $1,242.79 $0.00 $1,067.94 $191,188.00
112 $191,188.00 $1,242.79 $0.00 $1,081.00 $193,511.79
113 $193,511.79 $1,242.79 $0.00 $1,094.14 $195,848.72
114 $195,848.72 $1,242.79 $0.00 $1,107.36 $198,198.87
115 $198,198.87 $1,242.79 $0.00 $1,120.65 $200,562.31
116 $200,562.31 $1,242.79 $0.00 $1,134.01 $202,939.11
117 $202,939.11 $1,242.79 $0.00 $1,147.45 $205,329.35
118 $205,329.35 $1,242.79 $0.00 $1,160.96 $207,733.10
119 $207,733.10 $1,242.79 $0.00 $1,174.55 $210,150.44
120 $210,150.44 $1,242.79 $0.00 $1,188.22 $212,581.45
121 $212,581.45 $1,242.79 $0.00 $1,201.97 $215,026.21
122 $215,026.21 $1,242.79 $0.00 $1,215.79 $217,484.79
123 $217,484.79 $1,242.79 $0.00 $1,229.69 $219,957.27
124 $219,957.27 $1,242.79 $0.00 $1,243.67 $222,443.73
125 $222,443.73 $1,242.79 $0.00 $1,257.73 $224,944.25
126 $224,944.25 $1,242.79 $0.00 $1,271.87 $227,458.91
127 $227,458.91 $1,242.79 $0.00 $1,286.09 $229,987.79
128 $229,987.79 $1,242.79 $0.00 $1,300.38 $232,530.96
129 $232,530.96 $1,242.79 $0.00 $1,314.76 $235,088.51
130 $235,088.51 $1,242.79 $0.00 $1,329.22 $237,660.52
131 $237,660.52 $1,242.79 $0.00 $1,343.77 $240,247.08
132 $240,247.08 $1,242.79 $0.00 $1,358.39 $242,848.26
133 $242,848.26 $1,242.79 $0.00 $1,373.10 $245,464.15
134 $245,464.15 $1,242.79 $0.00 $1,387.89 $248,094.83
135 $248,094.83 $1,242.79 $0.00 $1,402.76 $250,740.38
136 $250,740.38 $1,242.79 $0.00 $1,417.72 $253,400.89
137 $253,400.89 $1,242.79 $0.00 $1,432.77 $256,076.45
138 $256,076.45 $1,242.79 $0.00 $1,447.89 $258,767.13
139 $258,767.13 $1,242.79 $0.00 $1,463.11 $261,473.03
140 $261,473.03 $1,242.79 $0.00 $1,478.41 $264,194.23
141 $264,194.23 $1,242.79 $0.00 $1,493.79 $266,930.81
142 $266,930.81 $1,242.79 $0.00 $1,509.27 $269,682.87
143 $269,682.87 $1,242.79 $0.00 $1,524.83 $272,450.49
144 $272,450.49 $1,242.79 $0.00 $1,540.47 $275,233.75
145 $275,233.75 $1,242.79 $0.00 $1,556.21 $278,032.75
146 $278,032.75 $1,242.79 $0.00 $1,572.04 $280,847.58
147 $280,847.58 $1,242.79 $0.00 $1,587.95 $283,678.32
148 $283,678.32 $1,242.79 $0.00 $1,603.96 $286,525.07
149 $286,525.07 $1,242.79 $0.00 $1,620.05 $289,387.91
150 $289,387.91 $1,242.79 $0.00 $1,636.24 $292,266.94
151 $292,266.94 $1,242.79 $0.00 $1,652.52 $295,162.25
152 $295,162.25 $1,242.79 $0.00 $1,668.89 $298,073.93
153 $298,073.93 $1,242.79 $0.00 $1,685.35 $301,002.07
154 $301,002.07 $1,242.79 $0.00 $1,701.91 $303,946.77
155 $303,946.77 $1,242.79 $0.00 $1,718.56 $306,908.12
156 $306,908.12 $1,242.79 $0.00 $1,735.30 $309,886.21
157 $309,886.21 $1,242.79 $0.00 $1,752.14 $312,881.14
158 $312,881.14 $1,242.79 $0.00 $1,769.08 $315,893.01
159 $315,893.01 $1,242.79 $0.00 $1,786.11 $318,921.91
160 $318,921.91 $1,242.79 $0.00 $1,803.23 $321,967.93
161 $321,967.93 $1,242.79 $0.00 $1,820.45 $325,031.17
162 $325,031.17 $1,242.79 $0.00 $1,837.77 $328,111.73
163 $328,111.73 $1,242.79 $0.00 $1,855.19 $331,209.71
164 $331,209.71 $1,242.79 $0.00 $1,872.71 $334,325.21
165 $334,325.21 $1,242.79 $0.00 $1,890.32 $337,458.32
166 $337,458.32 $1,242.79 $0.00 $1,908.04 $340,609.15
167 $340,609.15 $1,242.79 $0.00 $1,925.85 $343,777.79
168 $343,777.79 $1,242.79 $0.00 $1,943.77 $346,964.35
169 $346,964.35 $1,242.79 $0.00 $1,961.79 $350,168.93
170 $350,168.93 $1,242.79 $0.00 $1,979.91 $353,391.63
171 $353,391.63 $1,242.79 $0.00 $1,998.13 $356,632.55
172 $356,632.55 $1,242.79 $0.00 $2,016.45 $359,891.79
173 $359,891.79 $1,242.79 $0.00 $2,034.88 $363,169.46
174 $363,169.46 $1,242.79 $0.00 $2,053.41 $366,465.66
175 $366,465.66 $1,242.79 $0.00 $2,072.05 $369,780.50
176 $369,780.50 $1,242.79 $0.00 $2,090.79 $373,114.08
177 $373,114.08 $1,242.79 $0.00 $2,109.64 $376,466.51
178 $376,466.51 $1,242.79 $0.00 $2,128.60 $379,837.90
179 $379,837.90 $1,242.79 $0.00 $2,147.66 $383,228.35
180 $383,228.35 $1,242.79 $0.00 $2,166.83 $386,637.97
181 $386,637.97 $1,242.79 $0.00 $2,186.11 $390,066.87
182 $390,066.87 $1,242.79 $0.00 $2,205.49 $393,515.15
183 $393,515.15 $1,242.79 $0.00 $2,224.99 $396,982.93
184 $396,982.93 $1,242.79 $0.00 $2,244.60 $400,470.32
185 $400,470.32 $1,242.79 $0.00 $2,264.32 $403,977.43
186 $403,977.43 $1,242.79 $0.00 $2,284.15 $407,504.37
187 $407,504.37 $1,242.79 $0.00 $2,304.09 $411,051.25
188 $411,051.25 $1,242.79 $0.00 $2,324.14 $414,618.18
189 $414,618.18 $1,242.79 $0.00 $2,344.31 $418,205.28
190 $418,205.28 $1,242.79 $0.00 $2,364.59 $421,812.66
191 $421,812.66 $1,242.79 $0.00 $2,384.99 $425,440.44
192 $425,440.44 $1,242.79 $0.00 $2,405.50 $429,088.73
193 $429,088.73 $1,242.79 $0.00 $2,426.13 $432,757.65
194 $432,757.65 $1,242.79 $0.00 $2,446.87 $436,447.31
195 $436,447.31 $1,242.79 $0.00 $2,467.74 $440,157.84
196 $440,157.84 $1,242.79 $0.00 $2,488.72 $443,889.35
197 $443,889.35 $1,242.79 $0.00 $2,509.81 $447,641.95
198 $447,641.95 $1,242.79 $0.00 $2,531.03 $451,415.77
199 $451,415.77 $1,242.79 $0.00 $2,552.37 $455,210.93
200 $455,210.93 $1,242.79 $0.00 $2,573.83 $459,027.55
201 $459,027.55 $1,242.79 $0.00 $2,595.41 $462,865.75
202 $462,865.75 $1,242.79 $0.00 $2,617.11 $466,725.65
203 $466,725.65 $1,242.79 $0.00 $2,638.93 $470,607.37
204 $470,607.37 $1,242.79 $0.00 $2,660.88 $474,511.04
205 $474,511.04 $1,242.79 $0.00 $2,682.95 $478,436.78
206 $478,436.78 $1,242.79 $0.00 $2,705.15 $482,384.72
207 $482,384.72 $1,242.79 $0.00 $2,727.47 $486,354.98
208 $486,354.98 $1,242.79 $0.00 $2,749.92 $490,347.69
209 $490,347.69 $1,242.79 $0.00 $2,772.50 $494,362.98
210 $494,362.98 $1,242.79 $0.00 $2,795.20 $498,400.97
211 $498,400.97 $1,242.79 $0.00 $2,818.03 $502,461.79
212 $502,461.79 $1,242.79 $0.00 $2,840.99 $506,545.57
213 $506,545.57 $1,242.79 $0.00 $2,864.08 $510,652.44
214 $510,652.44 $1,242.79 $0.00 $2,887.30 $514,782.53
215 $514,782.53 $1,242.79 $0.00 $2,910.66 $518,935.98
216 $518,935.98 $1,242.79 $0.00 $2,934.14 $523,112.91
217 $523,112.91 $1,242.79 $145,703.95 $2,957.76 $381,609.51
218 $381,609.51 $1,242.79 $0.00 $2,157.68 $385,009.98
219 $385,009.98 $1,242.79 $0.00 $2,176.90 $388,429.67
220 $388,429.67 $1,242.79 $0.00 $2,196.24 $391,868.70
221 $391,868.70 $1,242.79 $0.00 $2,215.68 $395,327.17
222 $395,327.17 $1,242.79 $0.00 $2,235.24 $398,805.20
223 $398,805.20 $1,242.79 $0.00 $2,254.90 $402,302.89
224 $402,302.89 $1,242.79 $0.00 $2,274.68 $405,820.36
225 $405,820.36 $1,242.79 $0.00 $2,294.57 $409,357.72
226 $409,357.72 $1,242.79 $0.00 $2,314.57 $412,915.08
227 $412,915.08 $1,242.79 $0.00 $2,334.68 $416,492.55
228 $416,492.55 $1,242.79 $0.00 $2,354.91 $420,090.25
229 $420,090.25 $1,242.79 $152,989.15 $2,375.25 $270,719.14
230 $270,719.14 $1,242.79 $0.00 $1,530.69 $273,492.62
231 $273,492.62 $1,242.79 $0.00 $1,546.37 $276,281.78
232 $276,281.78 $1,242.79 $0.00 $1,562.14 $279,086.71
233 $279,086.71 $1,242.79 $0.00 $1,578.00 $281,907.50
234 $281,907.50 $1,242.79 $0.00 $1,593.95 $284,744.24
235 $284,744.24 $1,242.79 $0.00 $1,609.99 $287,597.02
236 $287,597.02 $1,242.79 $0.00 $1,626.12 $290,465.93
237 $290,465.93 $1,242.79 $0.00 $1,642.34 $293,351.06
238 $293,351.06 $1,242.79 $0.00 $1,658.65 $296,252.50
239 $296,252.50 $1,242.79 $0.00 $1,675.05 $299,170.34
240 $299,170.34 $1,242.79 $0.00 $1,691.55 $302,104.68
241 $302,104.68 $1,242.79 $160,638.60 $1,708.14 $144,417.01
242 $144,417.01 $1,242.79 $0.00 $816.55 $146,476.35
243 $146,476.35 $1,242.79 $0.00 $828.20 $148,547.34
244 $148,547.34 $1,242.79 $0.00 $839.91 $150,630.04
245 $150,630.04 $1,242.79 $0.00 $851.68 $152,724.51
246 $152,724.51 $1,242.79 $0.00 $863.53 $154,830.83
247 $154,830.83 $1,242.79 $0.00 $875.44 $156,949.06
248 $156,949.06 $1,242.79 $0.00 $887.41 $159,079.26
249 $159,079.26 $1,242.79 $0.00 $899.46 $161,221.51
250 $161,221.51 $1,242.79 $0.00 $911.57 $163,375.87
251 $163,375.87 $1,242.79 $0.00 $923.75 $165,542.41
252 $165,542.41 $1,242.79 $0.00 $936.00 $167,721.20
253 $167,721.20 $0.00 $168,670.53 $948.32 ($1.01)