Savings Plan and Future Cost Estimation for Philander Smith College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$67,849
Monthly savings required$537

How much will it cost to send your child to Philander Smith College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $271,394.72 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $537.07 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$26,164.00
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 $537.07 $0.00 $0.00 $537.07
2 $537.07 $537.07 $0.00 $3.04 $1,077.18
3 $1,077.18 $537.07 $0.00 $6.09 $1,620.34
4 $1,620.34 $537.07 $0.00 $9.16 $2,166.57
5 $2,166.57 $537.07 $0.00 $12.25 $2,715.89
6 $2,715.89 $537.07 $0.00 $15.36 $3,268.32
7 $3,268.32 $537.07 $0.00 $18.48 $3,823.87
8 $3,823.87 $537.07 $0.00 $21.62 $4,382.56
9 $4,382.56 $537.07 $0.00 $24.78 $4,944.41
10 $4,944.41 $537.07 $0.00 $27.96 $5,509.44
11 $5,509.44 $537.07 $0.00 $31.15 $6,077.66
12 $6,077.66 $537.07 $0.00 $34.36 $6,649.09
13 $6,649.09 $537.07 $0.00 $37.59 $7,223.75
14 $7,223.75 $537.07 $0.00 $40.84 $7,801.66
15 $7,801.66 $537.07 $0.00 $44.11 $8,382.84
16 $8,382.84 $537.07 $0.00 $47.40 $8,967.31
17 $8,967.31 $537.07 $0.00 $50.70 $9,555.08
18 $9,555.08 $537.07 $0.00 $54.03 $10,146.18
19 $10,146.18 $537.07 $0.00 $57.37 $10,740.62
20 $10,740.62 $537.07 $0.00 $60.73 $11,338.42
21 $11,338.42 $537.07 $0.00 $64.11 $11,939.60
22 $11,939.60 $537.07 $0.00 $67.51 $12,544.18
23 $12,544.18 $537.07 $0.00 $70.93 $13,152.18
24 $13,152.18 $537.07 $0.00 $74.36 $13,763.61
25 $13,763.61 $537.07 $0.00 $77.82 $14,378.50
26 $14,378.50 $537.07 $0.00 $81.30 $14,996.87
27 $14,996.87 $537.07 $0.00 $84.79 $15,618.73
28 $15,618.73 $537.07 $0.00 $88.31 $16,244.11
29 $16,244.11 $537.07 $0.00 $91.85 $16,873.03
30 $16,873.03 $537.07 $0.00 $95.40 $17,505.50
31 $17,505.50 $537.07 $0.00 $98.98 $18,141.55
32 $18,141.55 $537.07 $0.00 $102.57 $18,781.19
33 $18,781.19 $537.07 $0.00 $106.19 $19,424.45
34 $19,424.45 $537.07 $0.00 $109.83 $20,071.35
35 $20,071.35 $537.07 $0.00 $113.49 $20,721.91
36 $20,721.91 $537.07 $0.00 $117.16 $21,376.14
37 $21,376.14 $537.07 $0.00 $120.86 $22,034.07
38 $22,034.07 $537.07 $0.00 $124.58 $22,695.72
39 $22,695.72 $537.07 $0.00 $128.32 $23,361.11
40 $23,361.11 $537.07 $0.00 $132.09 $24,030.27
41 $24,030.27 $537.07 $0.00 $135.87 $24,703.21
42 $24,703.21 $537.07 $0.00 $139.68 $25,379.96
43 $25,379.96 $537.07 $0.00 $143.50 $26,060.53
44 $26,060.53 $537.07 $0.00 $147.35 $26,744.95
45 $26,744.95 $537.07 $0.00 $151.22 $27,433.24
46 $27,433.24 $537.07 $0.00 $155.11 $28,125.42
47 $28,125.42 $537.07 $0.00 $159.03 $28,821.52
48 $28,821.52 $537.07 $0.00 $162.96 $29,521.55
49 $29,521.55 $537.07 $0.00 $166.92 $30,225.54
50 $30,225.54 $537.07 $0.00 $170.90 $30,933.51
51 $30,933.51 $537.07 $0.00 $174.90 $31,645.48
52 $31,645.48 $537.07 $0.00 $178.93 $32,361.48
53 $32,361.48 $537.07 $0.00 $182.98 $33,081.53
54 $33,081.53 $537.07 $0.00 $187.05 $33,805.65
55 $33,805.65 $537.07 $0.00 $191.14 $34,533.86
56 $34,533.86 $537.07 $0.00 $195.26 $35,266.19
57 $35,266.19 $537.07 $0.00 $199.40 $36,002.66
58 $36,002.66 $537.07 $0.00 $203.56 $36,743.29
59 $36,743.29 $537.07 $0.00 $207.75 $37,488.11
60 $37,488.11 $537.07 $0.00 $211.96 $38,237.14
61 $38,237.14 $537.07 $0.00 $216.20 $38,990.41
62 $38,990.41 $537.07 $0.00 $220.46 $39,747.94
63 $39,747.94 $537.07 $0.00 $224.74 $40,509.75
64 $40,509.75 $537.07 $0.00 $229.05 $41,275.87
65 $41,275.87 $537.07 $0.00 $233.38 $42,046.32
66 $42,046.32 $537.07 $0.00 $237.74 $42,821.13
67 $42,821.13 $537.07 $0.00 $242.12 $43,600.32
68 $43,600.32 $537.07 $0.00 $246.52 $44,383.91
69 $44,383.91 $537.07 $0.00 $250.95 $45,171.93
70 $45,171.93 $537.07 $0.00 $255.41 $45,964.41
71 $45,964.41 $537.07 $0.00 $259.89 $46,761.37
72 $46,761.37 $537.07 $0.00 $264.40 $47,562.84
73 $47,562.84 $537.07 $0.00 $268.93 $48,368.84
74 $48,368.84 $537.07 $0.00 $273.48 $49,179.39
75 $49,179.39 $537.07 $0.00 $278.07 $49,994.53
76 $49,994.53 $537.07 $0.00 $282.68 $50,814.28
77 $50,814.28 $537.07 $0.00 $287.31 $51,638.66
78 $51,638.66 $537.07 $0.00 $291.97 $52,467.70
79 $52,467.70 $537.07 $0.00 $296.66 $53,301.43
80 $53,301.43 $537.07 $0.00 $301.37 $54,139.87
81 $54,139.87 $537.07 $0.00 $306.11 $54,983.05
82 $54,983.05 $537.07 $0.00 $310.88 $55,831.00
83 $55,831.00 $537.07 $0.00 $315.68 $56,683.75
84 $56,683.75 $537.07 $0.00 $320.50 $57,541.32
85 $57,541.32 $537.07 $0.00 $325.35 $58,403.74
86 $58,403.74 $537.07 $0.00 $330.22 $59,271.03
87 $59,271.03 $537.07 $0.00 $335.13 $60,143.23
88 $60,143.23 $537.07 $0.00 $340.06 $61,020.36
89 $61,020.36 $537.07 $0.00 $345.02 $61,902.45
90 $61,902.45 $537.07 $0.00 $350.01 $62,789.53
91 $62,789.53 $537.07 $0.00 $355.02 $63,681.62
92 $63,681.62 $537.07 $0.00 $360.07 $64,578.76
93 $64,578.76 $537.07 $0.00 $365.14 $65,480.97
94 $65,480.97 $537.07 $0.00 $370.24 $66,388.28
95 $66,388.28 $537.07 $0.00 $375.37 $67,300.72
96 $67,300.72 $537.07 $0.00 $380.53 $68,218.32
97 $68,218.32 $537.07 $0.00 $385.72 $69,141.11
98 $69,141.11 $537.07 $0.00 $390.93 $70,069.11
99 $70,069.11 $537.07 $0.00 $396.18 $71,002.36
100 $71,002.36 $537.07 $0.00 $401.46 $71,940.89
101 $71,940.89 $537.07 $0.00 $406.76 $72,884.72
102 $72,884.72 $537.07 $0.00 $412.10 $73,833.89
103 $73,833.89 $537.07 $0.00 $417.47 $74,788.43
104 $74,788.43 $537.07 $0.00 $422.86 $75,748.36
105 $75,748.36 $537.07 $0.00 $428.29 $76,713.72
106 $76,713.72 $537.07 $0.00 $433.75 $77,684.54
107 $77,684.54 $537.07 $0.00 $439.24 $78,660.85
108 $78,660.85 $537.07 $0.00 $444.76 $79,642.68
109 $79,642.68 $537.07 $0.00 $450.31 $80,630.06
110 $80,630.06 $537.07 $0.00 $455.89 $81,623.02
111 $81,623.02 $537.07 $0.00 $461.51 $82,621.60
112 $82,621.60 $537.07 $0.00 $467.15 $83,625.82
113 $83,625.82 $537.07 $0.00 $472.83 $84,635.72
114 $84,635.72 $537.07 $0.00 $478.54 $85,651.33
115 $85,651.33 $537.07 $0.00 $484.29 $86,672.69
116 $86,672.69 $537.07 $0.00 $490.06 $87,699.82
117 $87,699.82 $537.07 $0.00 $495.87 $88,732.76
118 $88,732.76 $537.07 $0.00 $501.71 $89,771.54
119 $89,771.54 $537.07 $0.00 $507.58 $90,816.19
120 $90,816.19 $537.07 $0.00 $513.49 $91,866.75
121 $91,866.75 $537.07 $0.00 $519.43 $92,923.25
122 $92,923.25 $537.07 $0.00 $525.40 $93,985.72
123 $93,985.72 $537.07 $0.00 $531.41 $95,054.20
124 $95,054.20 $537.07 $0.00 $537.45 $96,128.72
125 $96,128.72 $537.07 $0.00 $543.53 $97,209.32
126 $97,209.32 $537.07 $0.00 $549.64 $98,296.03
127 $98,296.03 $537.07 $0.00 $555.78 $99,388.88
128 $99,388.88 $537.07 $0.00 $561.96 $100,487.91
129 $100,487.91 $537.07 $0.00 $568.17 $101,593.15
130 $101,593.15 $537.07 $0.00 $574.42 $102,704.64
131 $102,704.64 $537.07 $0.00 $580.71 $103,822.42
132 $103,822.42 $537.07 $0.00 $587.03 $104,946.52
133 $104,946.52 $537.07 $0.00 $593.38 $106,076.97
134 $106,076.97 $537.07 $0.00 $599.77 $107,213.81
135 $107,213.81 $537.07 $0.00 $606.20 $108,357.08
136 $108,357.08 $537.07 $0.00 $612.67 $109,506.82
137 $109,506.82 $537.07 $0.00 $619.17 $110,663.06
138 $110,663.06 $537.07 $0.00 $625.71 $111,825.84
139 $111,825.84 $537.07 $0.00 $632.28 $112,995.19
140 $112,995.19 $537.07 $0.00 $638.89 $114,171.15
141 $114,171.15 $537.07 $0.00 $645.54 $115,353.76
142 $115,353.76 $537.07 $0.00 $652.23 $116,543.06
143 $116,543.06 $537.07 $0.00 $658.95 $117,739.08
144 $117,739.08 $537.07 $0.00 $665.71 $118,941.86
145 $118,941.86 $537.07 $0.00 $672.51 $120,151.44
146 $120,151.44 $537.07 $0.00 $679.35 $121,367.86
147 $121,367.86 $537.07 $0.00 $686.23 $122,591.16
148 $122,591.16 $537.07 $0.00 $693.15 $123,821.38
149 $123,821.38 $537.07 $0.00 $700.10 $125,058.55
150 $125,058.55 $537.07 $0.00 $707.10 $126,302.72
151 $126,302.72 $537.07 $0.00 $714.13 $127,553.92
152 $127,553.92 $537.07 $0.00 $721.21 $128,812.20
153 $128,812.20 $537.07 $0.00 $728.32 $130,077.59
154 $130,077.59 $537.07 $0.00 $735.48 $131,350.14
155 $131,350.14 $537.07 $0.00 $742.67 $132,629.88
156 $132,629.88 $537.07 $0.00 $749.91 $133,916.86
157 $133,916.86 $537.07 $0.00 $757.19 $135,211.12
158 $135,211.12 $537.07 $0.00 $764.50 $136,512.69
159 $136,512.69 $537.07 $0.00 $771.86 $137,821.62
160 $137,821.62 $537.07 $0.00 $779.26 $139,137.95
161 $139,137.95 $537.07 $0.00 $786.71 $140,461.73
162 $140,461.73 $537.07 $0.00 $794.19 $141,792.99
163 $141,792.99 $537.07 $0.00 $801.72 $143,131.78
164 $143,131.78 $537.07 $0.00 $809.29 $144,478.14
165 $144,478.14 $537.07 $0.00 $816.90 $145,832.11
166 $145,832.11 $537.07 $0.00 $824.56 $147,193.74
167 $147,193.74 $537.07 $0.00 $832.25 $148,563.06
168 $148,563.06 $537.07 $0.00 $840.00 $149,940.13
169 $149,940.13 $537.07 $0.00 $847.78 $151,324.98
170 $151,324.98 $537.07 $0.00 $855.61 $152,717.66
171 $152,717.66 $537.07 $0.00 $863.49 $154,118.22
172 $154,118.22 $537.07 $0.00 $871.41 $155,526.70
173 $155,526.70 $537.07 $0.00 $879.37 $156,943.14
174 $156,943.14 $537.07 $0.00 $887.38 $158,367.59
175 $158,367.59 $537.07 $0.00 $895.43 $159,800.09
176 $159,800.09 $537.07 $0.00 $903.53 $161,240.69
177 $161,240.69 $537.07 $0.00 $911.68 $162,689.44
178 $162,689.44 $537.07 $0.00 $919.87 $164,146.38
179 $164,146.38 $537.07 $0.00 $928.11 $165,611.56
180 $165,611.56 $537.07 $0.00 $936.39 $167,085.02
181 $167,085.02 $537.07 $0.00 $944.72 $168,566.81
182 $168,566.81 $537.07 $0.00 $953.10 $170,056.98
183 $170,056.98 $537.07 $0.00 $961.53 $171,555.58
184 $171,555.58 $537.07 $0.00 $970.00 $173,062.65
185 $173,062.65 $537.07 $0.00 $978.52 $174,578.24
186 $174,578.24 $537.07 $0.00 $987.09 $176,102.40
187 $176,102.40 $537.07 $0.00 $995.71 $177,635.18
188 $177,635.18 $537.07 $0.00 $1,004.38 $179,176.63
189 $179,176.63 $537.07 $0.00 $1,013.09 $180,726.79
190 $180,726.79 $537.07 $0.00 $1,021.86 $182,285.72
191 $182,285.72 $537.07 $0.00 $1,030.67 $183,853.46
192 $183,853.46 $537.07 $0.00 $1,039.53 $185,430.06
193 $185,430.06 $537.07 $0.00 $1,048.45 $187,015.58
194 $187,015.58 $537.07 $0.00 $1,057.41 $188,610.06
195 $188,610.06 $537.07 $0.00 $1,066.43 $190,213.56
196 $190,213.56 $537.07 $0.00 $1,075.50 $191,826.13
197 $191,826.13 $537.07 $0.00 $1,084.61 $193,447.81
198 $193,447.81 $537.07 $0.00 $1,093.78 $195,078.66
199 $195,078.66 $537.07 $0.00 $1,103.00 $196,718.73
200 $196,718.73 $537.07 $0.00 $1,112.28 $198,368.08
201 $198,368.08 $537.07 $0.00 $1,121.60 $200,026.75
202 $200,026.75 $537.07 $0.00 $1,130.98 $201,694.80
203 $201,694.80 $537.07 $0.00 $1,140.41 $203,372.28
204 $203,372.28 $537.07 $0.00 $1,149.90 $205,059.25
205 $205,059.25 $537.07 $0.00 $1,159.43 $206,755.75
206 $206,755.75 $537.07 $0.00 $1,169.03 $208,461.85
207 $208,461.85 $537.07 $0.00 $1,178.67 $210,177.59
208 $210,177.59 $537.07 $0.00 $1,188.37 $211,903.03
209 $211,903.03 $537.07 $0.00 $1,198.13 $213,638.23
210 $213,638.23 $537.07 $0.00 $1,207.94 $215,383.24
211 $215,383.24 $537.07 $0.00 $1,217.81 $217,138.12
212 $217,138.12 $537.07 $0.00 $1,227.73 $218,902.92
213 $218,902.92 $537.07 $0.00 $1,237.71 $220,677.70
214 $220,677.70 $537.07 $0.00 $1,247.74 $222,462.51
215 $222,462.51 $537.07 $0.00 $1,257.84 $224,257.42
216 $224,257.42 $537.07 $0.00 $1,267.98 $226,062.47
217 $226,062.47 $537.07 $62,966.79 $1,278.19 $164,910.94
218 $164,910.94 $537.07 $0.00 $932.43 $166,380.44
219 $166,380.44 $537.07 $0.00 $940.74 $167,858.25
220 $167,858.25 $537.07 $0.00 $949.09 $169,344.41
221 $169,344.41 $537.07 $0.00 $957.50 $170,838.98
222 $170,838.98 $537.07 $0.00 $965.95 $172,342.00
223 $172,342.00 $537.07 $0.00 $974.45 $173,853.52
224 $173,853.52 $537.07 $0.00 $982.99 $175,373.58
225 $175,373.58 $537.07 $0.00 $991.59 $176,902.24
226 $176,902.24 $537.07 $0.00 $1,000.23 $178,439.54
227 $178,439.54 $537.07 $0.00 $1,008.92 $179,985.53
228 $179,985.53 $537.07 $0.00 $1,017.66 $181,540.26
229 $181,540.26 $537.07 $66,115.12 $1,026.46 $116,988.67
230 $116,988.67 $537.07 $0.00 $661.47 $118,187.21
231 $118,187.21 $537.07 $0.00 $668.25 $119,392.53
232 $119,392.53 $537.07 $0.00 $675.06 $120,604.66
233 $120,604.66 $537.07 $0.00 $681.92 $121,823.65
234 $121,823.65 $537.07 $0.00 $688.81 $123,049.53
235 $123,049.53 $537.07 $0.00 $695.74 $124,282.34
236 $124,282.34 $537.07 $0.00 $702.71 $125,522.12
237 $125,522.12 $537.07 $0.00 $709.72 $126,768.91
238 $126,768.91 $537.07 $0.00 $716.77 $128,022.75
239 $128,022.75 $537.07 $0.00 $723.86 $129,283.68
240 $129,283.68 $537.07 $0.00 $730.99 $130,551.74
241 $130,551.74 $537.07 $69,420.88 $738.16 $62,406.09
242 $62,406.09 $537.07 $0.00 $352.85 $63,296.01
243 $63,296.01 $537.07 $0.00 $357.88 $64,190.96
244 $64,190.96 $537.07 $0.00 $362.95 $65,090.98
245 $65,090.98 $537.07 $0.00 $368.03 $65,996.08
246 $65,996.08 $537.07 $0.00 $373.15 $66,906.30
247 $66,906.30 $537.07 $0.00 $378.30 $67,821.67
248 $67,821.67 $537.07 $0.00 $383.47 $68,742.21
249 $68,742.21 $537.07 $0.00 $388.68 $69,667.96
250 $69,667.96 $537.07 $0.00 $393.91 $70,598.94
251 $70,598.94 $537.07 $0.00 $399.18 $71,535.19
252 $71,535.19 $537.07 $0.00 $404.47 $72,476.73
253 $72,476.73 $0.00 $72,891.93 $409.79 ($5.41)