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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$68,295
Monthly savings required$541

How much will it cost to send your child to University of Alabama at Birmingham in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $273,178.84 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $540.61 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$26,336.00
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 $540.61 $0.00 $0.00 $540.61
2 $540.61 $540.61 $0.00 $3.06 $1,084.28
3 $1,084.28 $540.61 $0.00 $6.13 $1,631.02
4 $1,631.02 $540.61 $0.00 $9.22 $2,180.85
5 $2,180.85 $540.61 $0.00 $12.33 $2,733.79
6 $2,733.79 $540.61 $0.00 $15.46 $3,289.86
7 $3,289.86 $540.61 $0.00 $18.60 $3,849.07
8 $3,849.07 $540.61 $0.00 $21.76 $4,411.44
9 $4,411.44 $540.61 $0.00 $24.94 $4,976.99
10 $4,976.99 $540.61 $0.00 $28.14 $5,545.74
11 $5,545.74 $540.61 $0.00 $31.36 $6,117.71
12 $6,117.71 $540.61 $0.00 $34.59 $6,692.91
13 $6,692.91 $540.61 $0.00 $37.84 $7,271.36
14 $7,271.36 $540.61 $0.00 $41.11 $7,853.08
15 $7,853.08 $540.61 $0.00 $44.40 $8,438.09
16 $8,438.09 $540.61 $0.00 $47.71 $9,026.41
17 $9,026.41 $540.61 $0.00 $51.04 $9,618.06
18 $9,618.06 $540.61 $0.00 $54.38 $10,213.05
19 $10,213.05 $540.61 $0.00 $57.75 $10,811.41
20 $10,811.41 $540.61 $0.00 $61.13 $11,413.15
21 $11,413.15 $540.61 $0.00 $64.53 $12,018.29
22 $12,018.29 $540.61 $0.00 $67.95 $12,626.85
23 $12,626.85 $540.61 $0.00 $71.39 $13,238.85
24 $13,238.85 $540.61 $0.00 $74.85 $13,854.31
25 $13,854.31 $540.61 $0.00 $78.33 $14,473.25
26 $14,473.25 $540.61 $0.00 $81.83 $15,095.69
27 $15,095.69 $540.61 $0.00 $85.35 $15,721.65
28 $15,721.65 $540.61 $0.00 $88.89 $16,351.15
29 $16,351.15 $540.61 $0.00 $92.45 $16,984.21
30 $16,984.21 $540.61 $0.00 $96.03 $17,620.85
31 $17,620.85 $540.61 $0.00 $99.63 $18,261.09
32 $18,261.09 $540.61 $0.00 $103.25 $18,904.95
33 $18,904.95 $540.61 $0.00 $106.89 $19,552.45
34 $19,552.45 $540.61 $0.00 $110.55 $20,203.61
35 $20,203.61 $540.61 $0.00 $114.23 $20,858.45
36 $20,858.45 $540.61 $0.00 $117.94 $21,517.00
37 $21,517.00 $540.61 $0.00 $121.66 $22,179.27
38 $22,179.27 $540.61 $0.00 $125.40 $22,845.28
39 $22,845.28 $540.61 $0.00 $129.17 $23,515.06
40 $23,515.06 $540.61 $0.00 $132.96 $24,188.63
41 $24,188.63 $540.61 $0.00 $136.77 $24,866.01
42 $24,866.01 $540.61 $0.00 $140.60 $25,547.22
43 $25,547.22 $540.61 $0.00 $144.45 $26,232.28
44 $26,232.28 $540.61 $0.00 $148.32 $26,921.21
45 $26,921.21 $540.61 $0.00 $152.22 $27,614.04
46 $27,614.04 $540.61 $0.00 $156.13 $28,310.78
47 $28,310.78 $540.61 $0.00 $160.07 $29,011.46
48 $29,011.46 $540.61 $0.00 $164.04 $29,716.11
49 $29,716.11 $540.61 $0.00 $168.02 $30,424.74
50 $30,424.74 $540.61 $0.00 $172.03 $31,137.38
51 $31,137.38 $540.61 $0.00 $176.06 $31,854.05
52 $31,854.05 $540.61 $0.00 $180.11 $32,574.77
53 $32,574.77 $540.61 $0.00 $184.18 $33,299.56
54 $33,299.56 $540.61 $0.00 $188.28 $34,028.45
55 $34,028.45 $540.61 $0.00 $192.40 $34,761.46
56 $34,761.46 $540.61 $0.00 $196.55 $35,498.62
57 $35,498.62 $540.61 $0.00 $200.71 $36,239.94
58 $36,239.94 $540.61 $0.00 $204.91 $36,985.46
59 $36,985.46 $540.61 $0.00 $209.12 $37,735.19
60 $37,735.19 $540.61 $0.00 $213.36 $38,489.16
61 $38,489.16 $540.61 $0.00 $217.62 $39,247.39
62 $39,247.39 $540.61 $0.00 $221.91 $40,009.91
63 $40,009.91 $540.61 $0.00 $226.22 $40,776.74
64 $40,776.74 $540.61 $0.00 $230.56 $41,547.91
65 $41,547.91 $540.61 $0.00 $234.92 $42,323.44
66 $42,323.44 $540.61 $0.00 $239.30 $43,103.35
67 $43,103.35 $540.61 $0.00 $243.71 $43,887.67
68 $43,887.67 $540.61 $0.00 $248.15 $44,676.43
69 $44,676.43 $540.61 $0.00 $252.61 $45,469.65
70 $45,469.65 $540.61 $0.00 $257.09 $46,267.35
71 $46,267.35 $540.61 $0.00 $261.60 $47,069.56
72 $47,069.56 $540.61 $0.00 $266.14 $47,876.31
73 $47,876.31 $540.61 $0.00 $270.70 $48,687.62
74 $48,687.62 $540.61 $0.00 $275.29 $49,503.52
75 $49,503.52 $540.61 $0.00 $279.90 $50,324.03
76 $50,324.03 $540.61 $0.00 $284.54 $51,149.18
77 $51,149.18 $540.61 $0.00 $289.20 $51,978.99
78 $51,978.99 $540.61 $0.00 $293.90 $52,813.50
79 $52,813.50 $540.61 $0.00 $298.62 $53,652.73
80 $53,652.73 $540.61 $0.00 $303.36 $54,496.70
81 $54,496.70 $540.61 $0.00 $308.13 $55,345.44
82 $55,345.44 $540.61 $0.00 $312.93 $56,198.98
83 $56,198.98 $540.61 $0.00 $317.76 $57,057.35
84 $57,057.35 $540.61 $0.00 $322.61 $57,920.57
85 $57,920.57 $540.61 $0.00 $327.49 $58,788.67
86 $58,788.67 $540.61 $0.00 $332.40 $59,661.68
87 $59,661.68 $540.61 $0.00 $337.34 $60,539.63
88 $60,539.63 $540.61 $0.00 $342.30 $61,422.54
89 $61,422.54 $540.61 $0.00 $347.29 $62,310.44
90 $62,310.44 $540.61 $0.00 $352.31 $63,203.36
91 $63,203.36 $540.61 $0.00 $357.36 $64,101.33
92 $64,101.33 $540.61 $0.00 $362.44 $65,004.38
93 $65,004.38 $540.61 $0.00 $367.54 $65,912.53
94 $65,912.53 $540.61 $0.00 $372.68 $66,825.82
95 $66,825.82 $540.61 $0.00 $377.84 $67,744.27
96 $67,744.27 $540.61 $0.00 $383.04 $68,667.92
97 $68,667.92 $540.61 $0.00 $388.26 $69,596.79
98 $69,596.79 $540.61 $0.00 $393.51 $70,530.91
99 $70,530.91 $540.61 $0.00 $398.79 $71,470.31
100 $71,470.31 $540.61 $0.00 $404.10 $72,415.02
101 $72,415.02 $540.61 $0.00 $409.45 $73,365.08
102 $73,365.08 $540.61 $0.00 $414.82 $74,320.51
103 $74,320.51 $540.61 $0.00 $420.22 $75,281.34
104 $75,281.34 $540.61 $0.00 $425.65 $76,247.60
105 $76,247.60 $540.61 $0.00 $431.12 $77,219.33
106 $77,219.33 $540.61 $0.00 $436.61 $78,196.55
107 $78,196.55 $540.61 $0.00 $442.13 $79,179.29
108 $79,179.29 $540.61 $0.00 $447.69 $80,167.59
109 $80,167.59 $540.61 $0.00 $453.28 $81,161.48
110 $81,161.48 $540.61 $0.00 $458.90 $82,160.99
111 $82,160.99 $540.61 $0.00 $464.55 $83,166.15
112 $83,166.15 $540.61 $0.00 $470.23 $84,176.99
113 $84,176.99 $540.61 $0.00 $475.95 $85,193.55
114 $85,193.55 $540.61 $0.00 $481.70 $86,215.86
115 $86,215.86 $540.61 $0.00 $487.48 $87,243.95
116 $87,243.95 $540.61 $0.00 $493.29 $88,277.85
117 $88,277.85 $540.61 $0.00 $499.14 $89,317.60
118 $89,317.60 $540.61 $0.00 $505.01 $90,363.22
119 $90,363.22 $540.61 $0.00 $510.93 $91,414.76
120 $91,414.76 $540.61 $0.00 $516.87 $92,472.24
121 $92,472.24 $540.61 $0.00 $522.85 $93,535.70
122 $93,535.70 $540.61 $0.00 $528.86 $94,605.17
123 $94,605.17 $540.61 $0.00 $534.91 $95,680.69
124 $95,680.69 $540.61 $0.00 $540.99 $96,762.29
125 $96,762.29 $540.61 $0.00 $547.11 $97,850.01
126 $97,850.01 $540.61 $0.00 $553.26 $98,943.88
127 $98,943.88 $540.61 $0.00 $559.44 $100,043.93
128 $100,043.93 $540.61 $0.00 $565.66 $101,150.20
129 $101,150.20 $540.61 $0.00 $571.92 $102,262.73
130 $102,262.73 $540.61 $0.00 $578.21 $103,381.55
131 $103,381.55 $540.61 $0.00 $584.53 $104,506.69
132 $104,506.69 $540.61 $0.00 $590.90 $105,638.20
133 $105,638.20 $540.61 $0.00 $597.29 $106,776.10
134 $106,776.10 $540.61 $0.00 $603.73 $107,920.44
135 $107,920.44 $540.61 $0.00 $610.20 $109,071.25
136 $109,071.25 $540.61 $0.00 $616.70 $110,228.56
137 $110,228.56 $540.61 $0.00 $623.25 $111,392.42
138 $111,392.42 $540.61 $0.00 $629.83 $112,562.86
139 $112,562.86 $540.61 $0.00 $636.45 $113,739.92
140 $113,739.92 $540.61 $0.00 $643.10 $114,923.63
141 $114,923.63 $540.61 $0.00 $649.79 $116,114.03
142 $116,114.03 $540.61 $0.00 $656.53 $117,311.17
143 $117,311.17 $540.61 $0.00 $663.29 $118,515.07
144 $118,515.07 $540.61 $0.00 $670.10 $119,725.78
145 $119,725.78 $540.61 $0.00 $676.95 $120,943.34
146 $120,943.34 $540.61 $0.00 $683.83 $122,167.78
147 $122,167.78 $540.61 $0.00 $690.75 $123,399.14
148 $123,399.14 $540.61 $0.00 $697.72 $124,637.47
149 $124,637.47 $540.61 $0.00 $704.72 $125,882.80
150 $125,882.80 $540.61 $0.00 $711.76 $127,135.17
151 $127,135.17 $540.61 $0.00 $718.84 $128,394.62
152 $128,394.62 $540.61 $0.00 $725.96 $129,661.19
153 $129,661.19 $540.61 $0.00 $733.12 $130,934.92
154 $130,934.92 $540.61 $0.00 $740.33 $132,215.86
155 $132,215.86 $540.61 $0.00 $747.57 $133,504.04
156 $133,504.04 $540.61 $0.00 $754.85 $134,799.50
157 $134,799.50 $540.61 $0.00 $762.18 $136,102.29
158 $136,102.29 $540.61 $0.00 $769.54 $137,412.44
159 $137,412.44 $540.61 $0.00 $776.95 $138,730.00
160 $138,730.00 $540.61 $0.00 $784.40 $140,055.01
161 $140,055.01 $540.61 $0.00 $791.89 $141,387.51
162 $141,387.51 $540.61 $0.00 $799.43 $142,727.55
163 $142,727.55 $540.61 $0.00 $807.00 $144,075.16
164 $144,075.16 $540.61 $0.00 $814.62 $145,430.39
165 $145,430.39 $540.61 $0.00 $822.28 $146,793.28
166 $146,793.28 $540.61 $0.00 $829.99 $148,163.88
167 $148,163.88 $540.61 $0.00 $837.74 $149,542.23
168 $149,542.23 $540.61 $0.00 $845.53 $150,928.37
169 $150,928.37 $540.61 $0.00 $853.37 $152,322.35
170 $152,322.35 $540.61 $0.00 $861.25 $153,724.21
171 $153,724.21 $540.61 $0.00 $869.18 $155,134.00
172 $155,134.00 $540.61 $0.00 $877.15 $156,551.76
173 $156,551.76 $540.61 $0.00 $885.17 $157,977.54
174 $157,977.54 $540.61 $0.00 $893.23 $159,411.38
175 $159,411.38 $540.61 $0.00 $901.34 $160,853.33
176 $160,853.33 $540.61 $0.00 $909.49 $162,303.43
177 $162,303.43 $540.61 $0.00 $917.69 $163,761.73
178 $163,761.73 $540.61 $0.00 $925.93 $165,228.27
179 $165,228.27 $540.61 $0.00 $934.22 $166,703.10
180 $166,703.10 $540.61 $0.00 $942.56 $168,186.27
181 $168,186.27 $540.61 $0.00 $950.95 $169,677.83
182 $169,677.83 $540.61 $0.00 $959.38 $171,177.82
183 $171,177.82 $540.61 $0.00 $967.86 $172,686.29
184 $172,686.29 $540.61 $0.00 $976.39 $174,203.29
185 $174,203.29 $540.61 $0.00 $984.97 $175,728.87
186 $175,728.87 $540.61 $0.00 $993.60 $177,263.08
187 $177,263.08 $540.61 $0.00 $1,002.27 $178,805.96
188 $178,805.96 $540.61 $0.00 $1,010.99 $180,357.56
189 $180,357.56 $540.61 $0.00 $1,019.77 $181,917.94
190 $181,917.94 $540.61 $0.00 $1,028.59 $183,487.14
191 $183,487.14 $540.61 $0.00 $1,037.46 $185,065.21
192 $185,065.21 $540.61 $0.00 $1,046.39 $186,652.21
193 $186,652.21 $540.61 $0.00 $1,055.36 $188,248.18
194 $188,248.18 $540.61 $0.00 $1,064.38 $189,853.17
195 $189,853.17 $540.61 $0.00 $1,073.46 $191,467.24
196 $191,467.24 $540.61 $0.00 $1,082.58 $193,090.43
197 $193,090.43 $540.61 $0.00 $1,091.76 $194,722.80
198 $194,722.80 $540.61 $0.00 $1,100.99 $196,364.40
199 $196,364.40 $540.61 $0.00 $1,110.27 $198,015.28
200 $198,015.28 $540.61 $0.00 $1,119.61 $199,675.50
201 $199,675.50 $540.61 $0.00 $1,128.99 $201,345.10
202 $201,345.10 $540.61 $0.00 $1,138.43 $203,024.14
203 $203,024.14 $540.61 $0.00 $1,147.93 $204,712.68
204 $204,712.68 $540.61 $0.00 $1,157.48 $206,410.77
205 $206,410.77 $540.61 $0.00 $1,167.08 $208,118.46
206 $208,118.46 $540.61 $0.00 $1,176.73 $209,835.80
207 $209,835.80 $540.61 $0.00 $1,186.44 $211,562.85
208 $211,562.85 $540.61 $0.00 $1,196.21 $213,299.67
209 $213,299.67 $540.61 $0.00 $1,206.03 $215,046.31
210 $215,046.31 $540.61 $0.00 $1,215.90 $216,802.82
211 $216,802.82 $540.61 $0.00 $1,225.83 $218,569.26
212 $218,569.26 $540.61 $0.00 $1,235.82 $220,345.69
213 $220,345.69 $540.61 $0.00 $1,245.87 $222,132.17
214 $222,132.17 $540.61 $0.00 $1,255.97 $223,928.75
215 $223,928.75 $540.61 $0.00 $1,266.13 $225,735.49
216 $225,735.49 $540.61 $0.00 $1,276.34 $227,552.44
217 $227,552.44 $540.61 $63,380.72 $1,286.61 $165,998.94
218 $165,998.94 $540.61 $0.00 $938.58 $167,478.13
219 $167,478.13 $540.61 $0.00 $946.95 $168,965.69
220 $168,965.69 $540.61 $0.00 $955.36 $170,461.66
221 $170,461.66 $540.61 $0.00 $963.82 $171,966.09
222 $171,966.09 $540.61 $0.00 $972.32 $173,479.02
223 $173,479.02 $540.61 $0.00 $980.88 $175,000.51
224 $175,000.51 $540.61 $0.00 $989.48 $176,530.60
225 $176,530.60 $540.61 $0.00 $998.13 $178,069.34
226 $178,069.34 $540.61 $0.00 $1,006.83 $179,616.78
227 $179,616.78 $540.61 $0.00 $1,015.58 $181,172.97
228 $181,172.97 $540.61 $0.00 $1,024.38 $182,737.96
229 $182,737.96 $540.61 $66,549.76 $1,033.23 $117,762.04
230 $117,762.04 $540.61 $0.00 $665.84 $118,968.49
231 $118,968.49 $540.61 $0.00 $672.67 $120,181.77
232 $120,181.77 $540.61 $0.00 $679.53 $121,401.91
233 $121,401.91 $540.61 $0.00 $686.42 $122,628.94
234 $122,628.94 $540.61 $0.00 $693.36 $123,862.91
235 $123,862.91 $540.61 $0.00 $700.34 $125,103.86
236 $125,103.86 $540.61 $0.00 $707.36 $126,351.83
237 $126,351.83 $540.61 $0.00 $714.41 $127,606.85
238 $127,606.85 $540.61 $0.00 $721.51 $128,868.97
239 $128,868.97 $540.61 $0.00 $728.64 $130,138.22
240 $130,138.22 $540.61 $0.00 $735.82 $131,414.65
241 $131,414.65 $540.61 $69,877.25 $743.04 $62,821.05
242 $62,821.05 $540.61 $0.00 $355.20 $63,716.86
243 $63,716.86 $540.61 $0.00 $360.26 $64,617.73
244 $64,617.73 $540.61 $0.00 $365.36 $65,523.70
245 $65,523.70 $540.61 $0.00 $370.48 $66,434.79
246 $66,434.79 $540.61 $0.00 $375.63 $67,351.03
247 $67,351.03 $540.61 $0.00 $380.81 $68,272.45
248 $68,272.45 $540.61 $0.00 $386.02 $69,199.08
249 $69,199.08 $540.61 $0.00 $391.26 $70,130.95
250 $70,130.95 $540.61 $0.00 $396.53 $71,068.09
251 $71,068.09 $540.61 $0.00 $401.83 $72,010.53
252 $72,010.53 $540.61 $0.00 $407.16 $72,958.30
253 $72,958.30 $0.00 $73,371.11 $412.52 ($0.29)