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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$141,371
Monthly savings required$1,119

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 $565,485.19 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,119.08 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$54,516.00
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 $1,119.08 $0.00 $0.00 $1,119.08
2 $1,119.08 $1,119.08 $0.00 $6.33 $2,244.49
3 $2,244.49 $1,119.08 $0.00 $12.69 $3,376.26
4 $3,376.26 $1,119.08 $0.00 $19.09 $4,514.43
5 $4,514.43 $1,119.08 $0.00 $25.53 $5,659.04
6 $5,659.04 $1,119.08 $0.00 $32.00 $6,810.12
7 $6,810.12 $1,119.08 $0.00 $38.51 $7,967.71
8 $7,967.71 $1,119.08 $0.00 $45.05 $9,131.84
9 $9,131.84 $1,119.08 $0.00 $51.63 $10,302.55
10 $10,302.55 $1,119.08 $0.00 $58.25 $11,479.88
11 $11,479.88 $1,119.08 $0.00 $64.91 $12,663.87
12 $12,663.87 $1,119.08 $0.00 $71.60 $13,854.55
13 $13,854.55 $1,119.08 $0.00 $78.34 $15,051.97
14 $15,051.97 $1,119.08 $0.00 $85.11 $16,256.16
15 $16,256.16 $1,119.08 $0.00 $91.91 $17,467.15
16 $17,467.15 $1,119.08 $0.00 $98.76 $18,684.99
17 $18,684.99 $1,119.08 $0.00 $105.65 $19,909.72
18 $19,909.72 $1,119.08 $0.00 $112.57 $21,141.37
19 $21,141.37 $1,119.08 $0.00 $119.54 $22,379.99
20 $22,379.99 $1,119.08 $0.00 $126.54 $23,625.61
21 $23,625.61 $1,119.08 $0.00 $133.58 $24,878.27
22 $24,878.27 $1,119.08 $0.00 $140.67 $26,138.02
23 $26,138.02 $1,119.08 $0.00 $147.79 $27,404.89
24 $27,404.89 $1,119.08 $0.00 $154.95 $28,678.92
25 $28,678.92 $1,119.08 $0.00 $162.15 $29,960.15
26 $29,960.15 $1,119.08 $0.00 $169.40 $31,248.63
27 $31,248.63 $1,119.08 $0.00 $176.68 $32,544.39
28 $32,544.39 $1,119.08 $0.00 $184.01 $33,847.48
29 $33,847.48 $1,119.08 $0.00 $191.38 $35,157.94
30 $35,157.94 $1,119.08 $0.00 $198.79 $36,475.81
31 $36,475.81 $1,119.08 $0.00 $206.24 $37,801.13
32 $37,801.13 $1,119.08 $0.00 $213.73 $39,133.94
33 $39,133.94 $1,119.08 $0.00 $221.27 $40,474.29
34 $40,474.29 $1,119.08 $0.00 $228.85 $41,822.22
35 $41,822.22 $1,119.08 $0.00 $236.47 $43,177.77
36 $43,177.77 $1,119.08 $0.00 $244.13 $44,540.98
37 $44,540.98 $1,119.08 $0.00 $251.84 $45,911.90
38 $45,911.90 $1,119.08 $0.00 $259.59 $47,290.57
39 $47,290.57 $1,119.08 $0.00 $267.39 $48,677.04
40 $48,677.04 $1,119.08 $0.00 $275.23 $50,071.35
41 $50,071.35 $1,119.08 $0.00 $283.11 $51,473.54
42 $51,473.54 $1,119.08 $0.00 $291.04 $52,883.66
43 $52,883.66 $1,119.08 $0.00 $299.01 $54,301.75
44 $54,301.75 $1,119.08 $0.00 $307.03 $55,727.86
45 $55,727.86 $1,119.08 $0.00 $315.09 $57,162.03
46 $57,162.03 $1,119.08 $0.00 $323.20 $58,604.31
47 $58,604.31 $1,119.08 $0.00 $331.36 $60,054.75
48 $60,054.75 $1,119.08 $0.00 $339.56 $61,513.39
49 $61,513.39 $1,119.08 $0.00 $347.81 $62,980.28
50 $62,980.28 $1,119.08 $0.00 $356.10 $64,455.46
51 $64,455.46 $1,119.08 $0.00 $364.44 $65,938.98
52 $65,938.98 $1,119.08 $0.00 $372.83 $67,430.89
53 $67,430.89 $1,119.08 $0.00 $381.26 $68,931.23
54 $68,931.23 $1,119.08 $0.00 $389.75 $70,440.06
55 $70,440.06 $1,119.08 $0.00 $398.28 $71,957.42
56 $71,957.42 $1,119.08 $0.00 $406.86 $73,483.36
57 $73,483.36 $1,119.08 $0.00 $415.49 $75,017.93
58 $75,017.93 $1,119.08 $0.00 $424.16 $76,561.17
59 $76,561.17 $1,119.08 $0.00 $432.89 $78,113.14
60 $78,113.14 $1,119.08 $0.00 $441.66 $79,673.88
61 $79,673.88 $1,119.08 $0.00 $450.49 $81,243.45
62 $81,243.45 $1,119.08 $0.00 $459.36 $82,821.89
63 $82,821.89 $1,119.08 $0.00 $468.29 $84,409.26
64 $84,409.26 $1,119.08 $0.00 $477.26 $86,005.60
65 $86,005.60 $1,119.08 $0.00 $486.29 $87,610.97
66 $87,610.97 $1,119.08 $0.00 $495.37 $89,225.42
67 $89,225.42 $1,119.08 $0.00 $504.49 $90,848.99
68 $90,848.99 $1,119.08 $0.00 $513.67 $92,481.74
69 $92,481.74 $1,119.08 $0.00 $522.91 $94,123.73
70 $94,123.73 $1,119.08 $0.00 $532.19 $95,775.00
71 $95,775.00 $1,119.08 $0.00 $541.53 $97,435.61
72 $97,435.61 $1,119.08 $0.00 $550.92 $99,105.61
73 $99,105.61 $1,119.08 $0.00 $560.36 $100,785.05
74 $100,785.05 $1,119.08 $0.00 $569.85 $102,473.98
75 $102,473.98 $1,119.08 $0.00 $579.40 $104,172.46
76 $104,172.46 $1,119.08 $0.00 $589.01 $105,880.55
77 $105,880.55 $1,119.08 $0.00 $598.66 $107,598.29
78 $107,598.29 $1,119.08 $0.00 $608.38 $109,325.75
79 $109,325.75 $1,119.08 $0.00 $618.14 $111,062.97
80 $111,062.97 $1,119.08 $0.00 $627.97 $112,810.02
81 $112,810.02 $1,119.08 $0.00 $637.84 $114,566.94
82 $114,566.94 $1,119.08 $0.00 $647.78 $116,333.80
83 $116,333.80 $1,119.08 $0.00 $657.77 $118,110.65
84 $118,110.65 $1,119.08 $0.00 $667.81 $119,897.54
85 $119,897.54 $1,119.08 $0.00 $677.92 $121,694.54
86 $121,694.54 $1,119.08 $0.00 $688.08 $123,501.70
87 $123,501.70 $1,119.08 $0.00 $698.30 $125,319.08
88 $125,319.08 $1,119.08 $0.00 $708.57 $127,146.73
89 $127,146.73 $1,119.08 $0.00 $718.91 $128,984.72
90 $128,984.72 $1,119.08 $0.00 $729.30 $130,833.10
91 $130,833.10 $1,119.08 $0.00 $739.75 $132,691.93
92 $132,691.93 $1,119.08 $0.00 $750.26 $134,561.27
93 $134,561.27 $1,119.08 $0.00 $760.83 $136,441.18
94 $136,441.18 $1,119.08 $0.00 $771.46 $138,331.72
95 $138,331.72 $1,119.08 $0.00 $782.15 $140,232.95
96 $140,232.95 $1,119.08 $0.00 $792.90 $142,144.93
97 $142,144.93 $1,119.08 $0.00 $803.71 $144,067.72
98 $144,067.72 $1,119.08 $0.00 $814.58 $146,001.38
99 $146,001.38 $1,119.08 $0.00 $825.51 $147,945.97
100 $147,945.97 $1,119.08 $0.00 $836.51 $149,901.56
101 $149,901.56 $1,119.08 $0.00 $847.57 $151,868.21
102 $151,868.21 $1,119.08 $0.00 $858.68 $153,845.97
103 $153,845.97 $1,119.08 $0.00 $869.87 $155,834.92
104 $155,834.92 $1,119.08 $0.00 $881.11 $157,835.11
105 $157,835.11 $1,119.08 $0.00 $892.42 $159,846.61
106 $159,846.61 $1,119.08 $0.00 $903.80 $161,869.49
107 $161,869.49 $1,119.08 $0.00 $915.23 $163,903.80
108 $163,903.80 $1,119.08 $0.00 $926.74 $165,949.62
109 $165,949.62 $1,119.08 $0.00 $938.30 $168,007.00
110 $168,007.00 $1,119.08 $0.00 $949.94 $170,076.02
111 $170,076.02 $1,119.08 $0.00 $961.63 $172,156.73
112 $172,156.73 $1,119.08 $0.00 $973.40 $174,249.21
113 $174,249.21 $1,119.08 $0.00 $985.23 $176,353.52
114 $176,353.52 $1,119.08 $0.00 $997.13 $178,469.73
115 $178,469.73 $1,119.08 $0.00 $1,009.09 $180,597.90
116 $180,597.90 $1,119.08 $0.00 $1,021.13 $182,738.11
117 $182,738.11 $1,119.08 $0.00 $1,033.23 $184,890.42
118 $184,890.42 $1,119.08 $0.00 $1,045.40 $187,054.90
119 $187,054.90 $1,119.08 $0.00 $1,057.64 $189,231.62
120 $189,231.62 $1,119.08 $0.00 $1,069.94 $191,420.64
121 $191,420.64 $1,119.08 $0.00 $1,082.32 $193,622.04
122 $193,622.04 $1,119.08 $0.00 $1,094.77 $195,835.89
123 $195,835.89 $1,119.08 $0.00 $1,107.28 $198,062.25
124 $198,062.25 $1,119.08 $0.00 $1,119.87 $200,301.20
125 $200,301.20 $1,119.08 $0.00 $1,132.53 $202,552.81
126 $202,552.81 $1,119.08 $0.00 $1,145.26 $204,817.15
127 $204,817.15 $1,119.08 $0.00 $1,158.07 $207,094.30
128 $207,094.30 $1,119.08 $0.00 $1,170.94 $209,384.32
129 $209,384.32 $1,119.08 $0.00 $1,183.89 $211,687.29
130 $211,687.29 $1,119.08 $0.00 $1,196.91 $214,003.28
131 $214,003.28 $1,119.08 $0.00 $1,210.01 $216,332.37
132 $216,332.37 $1,119.08 $0.00 $1,223.17 $218,674.62
133 $218,674.62 $1,119.08 $0.00 $1,236.42 $221,030.12
134 $221,030.12 $1,119.08 $0.00 $1,249.74 $223,398.94
135 $223,398.94 $1,119.08 $0.00 $1,263.13 $225,781.15
136 $225,781.15 $1,119.08 $0.00 $1,276.60 $228,176.83
137 $228,176.83 $1,119.08 $0.00 $1,290.14 $230,586.05
138 $230,586.05 $1,119.08 $0.00 $1,303.77 $233,008.90
139 $233,008.90 $1,119.08 $0.00 $1,317.47 $235,445.45
140 $235,445.45 $1,119.08 $0.00 $1,331.24 $237,895.77
141 $237,895.77 $1,119.08 $0.00 $1,345.10 $240,359.95
142 $240,359.95 $1,119.08 $0.00 $1,359.03 $242,838.06
143 $242,838.06 $1,119.08 $0.00 $1,373.04 $245,330.18
144 $245,330.18 $1,119.08 $0.00 $1,387.13 $247,836.39
145 $247,836.39 $1,119.08 $0.00 $1,401.30 $250,356.77
146 $250,356.77 $1,119.08 $0.00 $1,415.55 $252,891.40
147 $252,891.40 $1,119.08 $0.00 $1,429.88 $255,440.36
148 $255,440.36 $1,119.08 $0.00 $1,444.30 $258,003.74
149 $258,003.74 $1,119.08 $0.00 $1,458.79 $260,581.61
150 $260,581.61 $1,119.08 $0.00 $1,473.37 $263,174.06
151 $263,174.06 $1,119.08 $0.00 $1,488.02 $265,781.16
152 $265,781.16 $1,119.08 $0.00 $1,502.77 $268,403.01
153 $268,403.01 $1,119.08 $0.00 $1,517.59 $271,039.68
154 $271,039.68 $1,119.08 $0.00 $1,532.50 $273,691.26
155 $273,691.26 $1,119.08 $0.00 $1,547.49 $276,357.83
156 $276,357.83 $1,119.08 $0.00 $1,562.57 $279,039.48
157 $279,039.48 $1,119.08 $0.00 $1,577.73 $281,736.29
158 $281,736.29 $1,119.08 $0.00 $1,592.98 $284,448.35
159 $284,448.35 $1,119.08 $0.00 $1,608.31 $287,175.74
160 $287,175.74 $1,119.08 $0.00 $1,623.73 $289,918.55
161 $289,918.55 $1,119.08 $0.00 $1,639.24 $292,676.87
162 $292,676.87 $1,119.08 $0.00 $1,654.84 $295,450.79
163 $295,450.79 $1,119.08 $0.00 $1,670.52 $298,240.39
164 $298,240.39 $1,119.08 $0.00 $1,686.29 $301,045.76
165 $301,045.76 $1,119.08 $0.00 $1,702.16 $303,867.00
166 $303,867.00 $1,119.08 $0.00 $1,718.11 $306,704.19
167 $306,704.19 $1,119.08 $0.00 $1,734.15 $309,557.42
168 $309,557.42 $1,119.08 $0.00 $1,750.28 $312,426.78
169 $312,426.78 $1,119.08 $0.00 $1,766.51 $315,312.37
170 $315,312.37 $1,119.08 $0.00 $1,782.82 $318,214.27
171 $318,214.27 $1,119.08 $0.00 $1,799.23 $321,132.58
172 $321,132.58 $1,119.08 $0.00 $1,815.73 $324,067.39
173 $324,067.39 $1,119.08 $0.00 $1,832.32 $327,018.79
174 $327,018.79 $1,119.08 $0.00 $1,849.01 $329,986.88
175 $329,986.88 $1,119.08 $0.00 $1,865.79 $332,971.75
176 $332,971.75 $1,119.08 $0.00 $1,882.67 $335,973.50
177 $335,973.50 $1,119.08 $0.00 $1,899.64 $338,992.22
178 $338,992.22 $1,119.08 $0.00 $1,916.71 $342,028.01
179 $342,028.01 $1,119.08 $0.00 $1,933.88 $345,080.97
180 $345,080.97 $1,119.08 $0.00 $1,951.14 $348,151.19
181 $348,151.19 $1,119.08 $0.00 $1,968.50 $351,238.77
182 $351,238.77 $1,119.08 $0.00 $1,985.96 $354,343.81
183 $354,343.81 $1,119.08 $0.00 $2,003.51 $357,466.40
184 $357,466.40 $1,119.08 $0.00 $2,021.17 $360,606.65
185 $360,606.65 $1,119.08 $0.00 $2,038.92 $363,764.65
186 $363,764.65 $1,119.08 $0.00 $2,056.78 $366,940.51
187 $366,940.51 $1,119.08 $0.00 $2,074.73 $370,134.32
188 $370,134.32 $1,119.08 $0.00 $2,092.79 $373,346.19
189 $373,346.19 $1,119.08 $0.00 $2,110.95 $376,576.22
190 $376,576.22 $1,119.08 $0.00 $2,129.22 $379,824.52
191 $379,824.52 $1,119.08 $0.00 $2,147.58 $383,091.18
192 $383,091.18 $1,119.08 $0.00 $2,166.05 $386,376.31
193 $386,376.31 $1,119.08 $0.00 $2,184.63 $389,680.02
194 $389,680.02 $1,119.08 $0.00 $2,203.31 $393,002.41
195 $393,002.41 $1,119.08 $0.00 $2,222.09 $396,343.58
196 $396,343.58 $1,119.08 $0.00 $2,240.98 $399,703.64
197 $399,703.64 $1,119.08 $0.00 $2,259.98 $403,082.70
198 $403,082.70 $1,119.08 $0.00 $2,279.09 $406,480.87
199 $406,480.87 $1,119.08 $0.00 $2,298.30 $409,898.25
200 $409,898.25 $1,119.08 $0.00 $2,317.62 $413,334.95
201 $413,334.95 $1,119.08 $0.00 $2,337.06 $416,791.09
202 $416,791.09 $1,119.08 $0.00 $2,356.60 $420,266.77
203 $420,266.77 $1,119.08 $0.00 $2,376.25 $423,762.10
204 $423,762.10 $1,119.08 $0.00 $2,396.01 $427,277.19
205 $427,277.19 $1,119.08 $0.00 $2,415.89 $430,812.16
206 $430,812.16 $1,119.08 $0.00 $2,435.87 $434,367.11
207 $434,367.11 $1,119.08 $0.00 $2,455.97 $437,942.16
208 $437,942.16 $1,119.08 $0.00 $2,476.19 $441,537.43
209 $441,537.43 $1,119.08 $0.00 $2,496.52 $445,153.03
210 $445,153.03 $1,119.08 $0.00 $2,516.96 $448,789.07
211 $448,789.07 $1,119.08 $0.00 $2,537.52 $452,445.67
212 $452,445.67 $1,119.08 $0.00 $2,558.19 $456,122.94
213 $456,122.94 $1,119.08 $0.00 $2,578.99 $459,821.01
214 $459,821.01 $1,119.08 $0.00 $2,599.89 $463,539.98
215 $463,539.98 $1,119.08 $0.00 $2,620.92 $467,279.98
216 $467,279.98 $1,119.08 $0.00 $2,642.07 $471,041.13
217 $471,041.13 $1,119.08 $131,199.25 $2,663.34 $343,624.30
218 $343,624.30 $1,119.08 $0.00 $1,942.90 $346,686.28
219 $346,686.28 $1,119.08 $0.00 $1,960.21 $349,765.57
220 $349,765.57 $1,119.08 $0.00 $1,977.63 $352,862.28
221 $352,862.28 $1,119.08 $0.00 $1,995.13 $355,976.49
222 $355,976.49 $1,119.08 $0.00 $2,012.74 $359,108.31
223 $359,108.31 $1,119.08 $0.00 $2,030.45 $362,257.84
224 $362,257.84 $1,119.08 $0.00 $2,048.26 $365,425.18
225 $365,425.18 $1,119.08 $0.00 $2,066.17 $368,610.43
226 $368,610.43 $1,119.08 $0.00 $2,084.18 $371,813.69
227 $371,813.69 $1,119.08 $0.00 $2,102.29 $375,035.06
228 $375,035.06 $1,119.08 $0.00 $2,120.50 $378,274.64
229 $378,274.64 $1,119.08 $137,759.22 $2,138.82 $243,773.32
230 $243,773.32 $1,119.08 $0.00 $1,378.33 $246,270.73
231 $246,270.73 $1,119.08 $0.00 $1,392.45 $248,782.26
232 $248,782.26 $1,119.08 $0.00 $1,406.65 $251,307.99
233 $251,307.99 $1,119.08 $0.00 $1,420.93 $253,848.00
234 $253,848.00 $1,119.08 $0.00 $1,435.29 $256,402.37
235 $256,402.37 $1,119.08 $0.00 $1,449.74 $258,971.19
236 $258,971.19 $1,119.08 $0.00 $1,464.26 $261,554.53
237 $261,554.53 $1,119.08 $0.00 $1,478.87 $264,152.48
238 $264,152.48 $1,119.08 $0.00 $1,493.56 $266,765.12
239 $266,765.12 $1,119.08 $0.00 $1,508.33 $269,392.53
240 $269,392.53 $1,119.08 $0.00 $1,523.18 $272,034.79
241 $272,034.79 $1,119.08 $144,647.18 $1,538.12 $130,044.81
242 $130,044.81 $1,119.08 $0.00 $735.29 $131,899.18
243 $131,899.18 $1,119.08 $0.00 $745.78 $133,764.04
244 $133,764.04 $1,119.08 $0.00 $756.32 $135,639.44
245 $135,639.44 $1,119.08 $0.00 $766.93 $137,525.45
246 $137,525.45 $1,119.08 $0.00 $777.59 $139,422.12
247 $139,422.12 $1,119.08 $0.00 $788.31 $141,329.51
248 $141,329.51 $1,119.08 $0.00 $799.10 $143,247.69
249 $143,247.69 $1,119.08 $0.00 $809.94 $145,176.71
250 $145,176.71 $1,119.08 $0.00 $820.85 $147,116.64
251 $147,116.64 $1,119.08 $0.00 $831.82 $149,067.54
252 $149,067.54 $1,119.08 $0.00 $842.85 $151,029.47
253 $151,029.47 $0.00 $151,879.54 $853.94 $3.87