Savings Plan and Future Cost Estimation for Biola University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2041$154,296
Monthly savings required$1,221

How much will it cost to send your child to Biola University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $617,183.37 for students enrolling in 2041 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,221.39 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$59,500.00
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 $1,221.39 $0.00 $0.00 $1,221.39
2 $1,221.39 $1,221.39 $0.00 $6.91 $2,449.69
3 $2,449.69 $1,221.39 $0.00 $13.85 $3,684.93
4 $3,684.93 $1,221.39 $0.00 $20.84 $4,927.16
5 $4,927.16 $1,221.39 $0.00 $27.86 $6,176.41
6 $6,176.41 $1,221.39 $0.00 $34.92 $7,432.72
7 $7,432.72 $1,221.39 $0.00 $42.03 $8,696.14
8 $8,696.14 $1,221.39 $0.00 $49.17 $9,966.70
9 $9,966.70 $1,221.39 $0.00 $56.35 $11,244.44
10 $11,244.44 $1,221.39 $0.00 $63.58 $12,529.41
11 $12,529.41 $1,221.39 $0.00 $70.84 $13,821.64
12 $13,821.64 $1,221.39 $0.00 $78.15 $15,121.18
13 $15,121.18 $1,221.39 $0.00 $85.50 $16,428.07
14 $16,428.07 $1,221.39 $0.00 $92.89 $17,742.35
15 $17,742.35 $1,221.39 $0.00 $100.32 $19,064.06
16 $19,064.06 $1,221.39 $0.00 $107.79 $20,393.24
17 $20,393.24 $1,221.39 $0.00 $115.31 $21,729.94
18 $21,729.94 $1,221.39 $0.00 $122.86 $23,074.19
19 $23,074.19 $1,221.39 $0.00 $130.46 $24,426.04
20 $24,426.04 $1,221.39 $0.00 $138.11 $25,785.54
21 $25,785.54 $1,221.39 $0.00 $145.80 $27,152.73
22 $27,152.73 $1,221.39 $0.00 $153.53 $28,527.65
23 $28,527.65 $1,221.39 $0.00 $161.30 $29,910.34
24 $29,910.34 $1,221.39 $0.00 $169.12 $31,300.85
25 $31,300.85 $1,221.39 $0.00 $176.98 $32,699.22
26 $32,699.22 $1,221.39 $0.00 $184.89 $34,105.50
27 $34,105.50 $1,221.39 $0.00 $192.84 $35,519.73
28 $35,519.73 $1,221.39 $0.00 $200.83 $36,941.95
29 $36,941.95 $1,221.39 $0.00 $208.88 $38,372.22
30 $38,372.22 $1,221.39 $0.00 $216.96 $39,810.57
31 $39,810.57 $1,221.39 $0.00 $225.09 $41,257.05
32 $41,257.05 $1,221.39 $0.00 $233.27 $42,711.71
33 $42,711.71 $1,221.39 $0.00 $241.50 $44,174.60
34 $44,174.60 $1,221.39 $0.00 $249.77 $45,645.76
35 $45,645.76 $1,221.39 $0.00 $258.09 $47,125.24
36 $47,125.24 $1,221.39 $0.00 $266.45 $48,613.08
37 $48,613.08 $1,221.39 $0.00 $274.87 $50,109.34
38 $50,109.34 $1,221.39 $0.00 $283.33 $51,614.06
39 $51,614.06 $1,221.39 $0.00 $291.83 $53,127.28
40 $53,127.28 $1,221.39 $0.00 $300.39 $54,649.06
41 $54,649.06 $1,221.39 $0.00 $308.99 $56,179.44
42 $56,179.44 $1,221.39 $0.00 $317.65 $57,718.48
43 $57,718.48 $1,221.39 $0.00 $326.35 $59,266.22
44 $59,266.22 $1,221.39 $0.00 $335.10 $60,822.71
45 $60,822.71 $1,221.39 $0.00 $343.90 $62,388.00
46 $62,388.00 $1,221.39 $0.00 $352.75 $63,962.14
47 $63,962.14 $1,221.39 $0.00 $361.65 $65,545.18
48 $65,545.18 $1,221.39 $0.00 $370.60 $67,137.17
49 $67,137.17 $1,221.39 $0.00 $379.60 $68,738.16
50 $68,738.16 $1,221.39 $0.00 $388.66 $70,348.21
51 $70,348.21 $1,221.39 $0.00 $397.76 $71,967.36
52 $71,967.36 $1,221.39 $0.00 $406.91 $73,595.66
53 $73,595.66 $1,221.39 $0.00 $416.12 $75,233.17
54 $75,233.17 $1,221.39 $0.00 $425.38 $76,879.94
55 $76,879.94 $1,221.39 $0.00 $434.69 $78,536.02
56 $78,536.02 $1,221.39 $0.00 $444.05 $80,201.46
57 $80,201.46 $1,221.39 $0.00 $453.47 $81,876.32
58 $81,876.32 $1,221.39 $0.00 $462.94 $83,560.65
59 $83,560.65 $1,221.39 $0.00 $472.46 $85,254.50
60 $85,254.50 $1,221.39 $0.00 $482.04 $86,957.93
61 $86,957.93 $1,221.39 $0.00 $491.67 $88,670.99
62 $88,670.99 $1,221.39 $0.00 $501.36 $90,393.74
63 $90,393.74 $1,221.39 $0.00 $511.10 $92,126.23
64 $92,126.23 $1,221.39 $0.00 $520.90 $93,868.52
65 $93,868.52 $1,221.39 $0.00 $530.75 $95,620.66
66 $95,620.66 $1,221.39 $0.00 $540.65 $97,382.70
67 $97,382.70 $1,221.39 $0.00 $550.62 $99,154.71
68 $99,154.71 $1,221.39 $0.00 $560.64 $100,936.74
69 $100,936.74 $1,221.39 $0.00 $570.71 $102,728.84
70 $102,728.84 $1,221.39 $0.00 $580.84 $104,531.07
71 $104,531.07 $1,221.39 $0.00 $591.03 $106,343.49
72 $106,343.49 $1,221.39 $0.00 $601.28 $108,166.16
73 $108,166.16 $1,221.39 $0.00 $611.59 $109,999.14
74 $109,999.14 $1,221.39 $0.00 $621.95 $111,842.48
75 $111,842.48 $1,221.39 $0.00 $632.37 $113,696.24
76 $113,696.24 $1,221.39 $0.00 $642.86 $115,560.49
77 $115,560.49 $1,221.39 $0.00 $653.40 $117,435.28
78 $117,435.28 $1,221.39 $0.00 $664.00 $119,320.67
79 $119,320.67 $1,221.39 $0.00 $674.66 $121,216.72
80 $121,216.72 $1,221.39 $0.00 $685.38 $123,123.49
81 $123,123.49 $1,221.39 $0.00 $696.16 $125,041.04
82 $125,041.04 $1,221.39 $0.00 $707.00 $126,969.43
83 $126,969.43 $1,221.39 $0.00 $717.90 $128,908.72
84 $128,908.72 $1,221.39 $0.00 $728.87 $130,858.98
85 $130,858.98 $1,221.39 $0.00 $739.90 $132,820.27
86 $132,820.27 $1,221.39 $0.00 $750.99 $134,792.65
87 $134,792.65 $1,221.39 $0.00 $762.14 $136,776.18
88 $136,776.18 $1,221.39 $0.00 $773.35 $138,770.92
89 $138,770.92 $1,221.39 $0.00 $784.63 $140,776.94
90 $140,776.94 $1,221.39 $0.00 $795.97 $142,794.30
91 $142,794.30 $1,221.39 $0.00 $807.38 $144,823.07
92 $144,823.07 $1,221.39 $0.00 $818.85 $146,863.31
93 $146,863.31 $1,221.39 $0.00 $830.39 $148,915.09
94 $148,915.09 $1,221.39 $0.00 $841.99 $150,978.47
95 $150,978.47 $1,221.39 $0.00 $853.65 $153,053.51
96 $153,053.51 $1,221.39 $0.00 $865.39 $155,140.29
97 $155,140.29 $1,221.39 $0.00 $877.19 $157,238.87
98 $157,238.87 $1,221.39 $0.00 $889.05 $159,349.31
99 $159,349.31 $1,221.39 $0.00 $900.98 $161,471.68
100 $161,471.68 $1,221.39 $0.00 $912.98 $163,606.05
101 $163,606.05 $1,221.39 $0.00 $925.05 $165,752.49
102 $165,752.49 $1,221.39 $0.00 $937.19 $167,911.07
103 $167,911.07 $1,221.39 $0.00 $949.39 $170,081.85
104 $170,081.85 $1,221.39 $0.00 $961.67 $172,264.91
105 $172,264.91 $1,221.39 $0.00 $974.01 $174,460.31
106 $174,460.31 $1,221.39 $0.00 $986.42 $176,668.12
107 $176,668.12 $1,221.39 $0.00 $998.91 $178,888.42
108 $178,888.42 $1,221.39 $0.00 $1,011.46 $181,121.27
109 $181,121.27 $1,221.39 $0.00 $1,024.09 $183,366.75
110 $183,366.75 $1,221.39 $0.00 $1,036.78 $185,624.92
111 $185,624.92 $1,221.39 $0.00 $1,049.55 $187,895.86
112 $187,895.86 $1,221.39 $0.00 $1,062.39 $190,179.64
113 $190,179.64 $1,221.39 $0.00 $1,075.30 $192,476.33
114 $192,476.33 $1,221.39 $0.00 $1,088.29 $194,786.01
115 $194,786.01 $1,221.39 $0.00 $1,101.35 $197,108.75
116 $197,108.75 $1,221.39 $0.00 $1,114.48 $199,444.62
117 $199,444.62 $1,221.39 $0.00 $1,127.69 $201,793.70
118 $201,793.70 $1,221.39 $0.00 $1,140.97 $204,156.06
119 $204,156.06 $1,221.39 $0.00 $1,154.33 $206,531.78
120 $206,531.78 $1,221.39 $0.00 $1,167.76 $208,920.93
121 $208,920.93 $1,221.39 $0.00 $1,181.27 $211,323.59
122 $211,323.59 $1,221.39 $0.00 $1,194.85 $213,739.83
123 $213,739.83 $1,221.39 $0.00 $1,208.52 $216,169.74
124 $216,169.74 $1,221.39 $0.00 $1,222.26 $218,613.39
125 $218,613.39 $1,221.39 $0.00 $1,236.07 $221,070.85
126 $221,070.85 $1,221.39 $0.00 $1,249.97 $223,542.21
127 $223,542.21 $1,221.39 $0.00 $1,263.94 $226,027.54
128 $226,027.54 $1,221.39 $0.00 $1,277.99 $228,526.92
129 $228,526.92 $1,221.39 $0.00 $1,292.12 $231,040.43
130 $231,040.43 $1,221.39 $0.00 $1,306.34 $233,568.16
131 $233,568.16 $1,221.39 $0.00 $1,320.63 $236,110.18
132 $236,110.18 $1,221.39 $0.00 $1,335.00 $238,666.57
133 $238,666.57 $1,221.39 $0.00 $1,349.46 $241,237.42
134 $241,237.42 $1,221.39 $0.00 $1,363.99 $243,822.80
135 $243,822.80 $1,221.39 $0.00 $1,378.61 $246,422.80
136 $246,422.80 $1,221.39 $0.00 $1,393.31 $249,037.50
137 $249,037.50 $1,221.39 $0.00 $1,408.09 $251,666.98
138 $251,666.98 $1,221.39 $0.00 $1,422.96 $254,311.33
139 $254,311.33 $1,221.39 $0.00 $1,437.91 $256,970.63
140 $256,970.63 $1,221.39 $0.00 $1,452.95 $259,644.97
141 $259,644.97 $1,221.39 $0.00 $1,468.07 $262,334.43
142 $262,334.43 $1,221.39 $0.00 $1,483.28 $265,039.10
143 $265,039.10 $1,221.39 $0.00 $1,498.57 $267,759.06
144 $267,759.06 $1,221.39 $0.00 $1,513.95 $270,494.40
145 $270,494.40 $1,221.39 $0.00 $1,529.41 $273,245.20
146 $273,245.20 $1,221.39 $0.00 $1,544.97 $276,011.56
147 $276,011.56 $1,221.39 $0.00 $1,560.61 $278,793.56
148 $278,793.56 $1,221.39 $0.00 $1,576.34 $281,591.29
149 $281,591.29 $1,221.39 $0.00 $1,592.16 $284,404.84
150 $284,404.84 $1,221.39 $0.00 $1,608.07 $287,234.30
151 $287,234.30 $1,221.39 $0.00 $1,624.06 $290,079.75
152 $290,079.75 $1,221.39 $0.00 $1,640.15 $292,941.29
153 $292,941.29 $1,221.39 $0.00 $1,656.33 $295,819.01
154 $295,819.01 $1,221.39 $0.00 $1,672.60 $298,713.00
155 $298,713.00 $1,221.39 $0.00 $1,688.97 $301,623.36
156 $301,623.36 $1,221.39 $0.00 $1,705.42 $304,550.17
157 $304,550.17 $1,221.39 $0.00 $1,721.97 $307,493.53
158 $307,493.53 $1,221.39 $0.00 $1,738.61 $310,453.53
159 $310,453.53 $1,221.39 $0.00 $1,755.35 $313,430.27
160 $313,430.27 $1,221.39 $0.00 $1,772.18 $316,423.84
161 $316,423.84 $1,221.39 $0.00 $1,789.11 $319,434.34
162 $319,434.34 $1,221.39 $0.00 $1,806.13 $322,461.86
163 $322,461.86 $1,221.39 $0.00 $1,823.25 $325,506.50
164 $325,506.50 $1,221.39 $0.00 $1,840.46 $328,568.35
165 $328,568.35 $1,221.39 $0.00 $1,857.77 $331,647.51
166 $331,647.51 $1,221.39 $0.00 $1,875.18 $334,744.08
167 $334,744.08 $1,221.39 $0.00 $1,892.69 $337,858.16
168 $337,858.16 $1,221.39 $0.00 $1,910.30 $340,989.85
169 $340,989.85 $1,221.39 $0.00 $1,928.01 $344,139.25
170 $344,139.25 $1,221.39 $0.00 $1,945.81 $347,306.45
171 $347,306.45 $1,221.39 $0.00 $1,963.72 $350,491.56
172 $350,491.56 $1,221.39 $0.00 $1,981.73 $353,694.68
173 $353,694.68 $1,221.39 $0.00 $1,999.84 $356,915.91
174 $356,915.91 $1,221.39 $0.00 $2,018.05 $360,155.35
175 $360,155.35 $1,221.39 $0.00 $2,036.37 $363,413.11
176 $363,413.11 $1,221.39 $0.00 $2,054.79 $366,689.29
177 $366,689.29 $1,221.39 $0.00 $2,073.31 $369,983.99
178 $369,983.99 $1,221.39 $0.00 $2,091.94 $373,297.32
179 $373,297.32 $1,221.39 $0.00 $2,110.68 $376,629.39
180 $376,629.39 $1,221.39 $0.00 $2,129.52 $379,980.30
181 $379,980.30 $1,221.39 $0.00 $2,148.46 $383,350.15
182 $383,350.15 $1,221.39 $0.00 $2,167.52 $386,739.06
183 $386,739.06 $1,221.39 $0.00 $2,186.68 $390,147.13
184 $390,147.13 $1,221.39 $0.00 $2,205.95 $393,574.47
185 $393,574.47 $1,221.39 $0.00 $2,225.33 $397,021.19
186 $397,021.19 $1,221.39 $0.00 $2,244.82 $400,487.40
187 $400,487.40 $1,221.39 $0.00 $2,264.41 $403,973.20
188 $403,973.20 $1,221.39 $0.00 $2,284.12 $407,478.71
189 $407,478.71 $1,221.39 $0.00 $2,303.94 $411,004.04
190 $411,004.04 $1,221.39 $0.00 $2,323.88 $414,549.31
191 $414,549.31 $1,221.39 $0.00 $2,343.92 $418,114.62
192 $418,114.62 $1,221.39 $0.00 $2,364.08 $421,700.09
193 $421,700.09 $1,221.39 $0.00 $2,384.35 $425,305.83
194 $425,305.83 $1,221.39 $0.00 $2,404.74 $428,931.96
195 $428,931.96 $1,221.39 $0.00 $2,425.24 $432,578.59
196 $432,578.59 $1,221.39 $0.00 $2,445.86 $436,245.84
197 $436,245.84 $1,221.39 $0.00 $2,466.60 $439,933.83
198 $439,933.83 $1,221.39 $0.00 $2,487.45 $443,642.67
199 $443,642.67 $1,221.39 $0.00 $2,508.42 $447,372.48
200 $447,372.48 $1,221.39 $0.00 $2,529.51 $451,123.38
201 $451,123.38 $1,221.39 $0.00 $2,550.72 $454,895.49
202 $454,895.49 $1,221.39 $0.00 $2,572.05 $458,688.93
203 $458,688.93 $1,221.39 $0.00 $2,593.49 $462,503.81
204 $462,503.81 $1,221.39 $0.00 $2,615.06 $466,340.26
205 $466,340.26 $1,221.39 $0.00 $2,636.76 $470,198.41
206 $470,198.41 $1,221.39 $0.00 $2,658.57 $474,078.37
207 $474,078.37 $1,221.39 $0.00 $2,680.51 $477,980.27
208 $477,980.27 $1,221.39 $0.00 $2,702.57 $481,904.23
209 $481,904.23 $1,221.39 $0.00 $2,724.76 $485,850.38
210 $485,850.38 $1,221.39 $0.00 $2,747.07 $489,818.84
211 $489,818.84 $1,221.39 $0.00 $2,769.51 $493,809.74
212 $493,809.74 $1,221.39 $0.00 $2,792.07 $497,823.20
213 $497,823.20 $1,221.39 $0.00 $2,814.76 $501,859.35
214 $501,859.35 $1,221.39 $0.00 $2,837.59 $505,918.33
215 $505,918.33 $1,221.39 $0.00 $2,860.54 $510,000.26
216 $510,000.26 $1,221.39 $0.00 $2,883.62 $514,105.27
217 $514,105.27 $1,221.39 $143,193.84 $2,906.83 $375,039.65
218 $375,039.65 $1,221.39 $0.00 $2,120.53 $378,381.57
219 $378,381.57 $1,221.39 $0.00 $2,139.42 $381,742.38
220 $381,742.38 $1,221.39 $0.00 $2,158.43 $385,122.20
221 $385,122.20 $1,221.39 $0.00 $2,177.54 $388,521.13
222 $388,521.13 $1,221.39 $0.00 $2,196.75 $391,939.27
223 $391,939.27 $1,221.39 $0.00 $2,216.08 $395,376.74
224 $395,376.74 $1,221.39 $0.00 $2,235.52 $398,833.65
225 $398,833.65 $1,221.39 $0.00 $2,255.06 $402,310.10
226 $402,310.10 $1,221.39 $0.00 $2,274.72 $405,806.21
227 $405,806.21 $1,221.39 $0.00 $2,294.49 $409,322.09
228 $409,322.09 $1,221.39 $0.00 $2,314.37 $412,857.85
229 $412,857.85 $1,221.39 $150,353.54 $2,334.36 $266,060.06
230 $266,060.06 $1,221.39 $0.00 $1,504.34 $268,785.79
231 $268,785.79 $1,221.39 $0.00 $1,519.75 $271,526.93
232 $271,526.93 $1,221.39 $0.00 $1,535.25 $274,283.57
233 $274,283.57 $1,221.39 $0.00 $1,550.84 $277,055.80
234 $277,055.80 $1,221.39 $0.00 $1,566.51 $279,843.70
235 $279,843.70 $1,221.39 $0.00 $1,582.28 $282,647.37
236 $282,647.37 $1,221.39 $0.00 $1,598.13 $285,466.89
237 $285,466.89 $1,221.39 $0.00 $1,614.07 $288,302.35
238 $288,302.35 $1,221.39 $0.00 $1,630.10 $291,153.84
239 $291,153.84 $1,221.39 $0.00 $1,646.23 $294,021.46
240 $294,021.46 $1,221.39 $0.00 $1,662.44 $296,905.29
241 $296,905.29 $1,221.39 $157,871.21 $1,678.75 $141,934.22
242 $141,934.22 $1,221.39 $0.00 $802.52 $143,958.13
243 $143,958.13 $1,221.39 $0.00 $813.96 $145,993.48
244 $145,993.48 $1,221.39 $0.00 $825.47 $148,040.34
245 $148,040.34 $1,221.39 $0.00 $837.04 $150,098.77
246 $150,098.77 $1,221.39 $0.00 $848.68 $152,168.84
247 $152,168.84 $1,221.39 $0.00 $860.38 $154,250.61
248 $154,250.61 $1,221.39 $0.00 $872.16 $156,344.16
249 $156,344.16 $1,221.39 $0.00 $883.99 $158,449.54
250 $158,449.54 $1,221.39 $0.00 $895.90 $160,566.83
251 $160,566.83 $1,221.39 $0.00 $907.87 $162,696.09
252 $162,696.09 $1,221.39 $0.00 $919.91 $164,837.39
253 $164,837.39 $0.00 $165,764.77 $932.01 $4.63