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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$147,699
Monthly savings required$1,169

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 $590,794.89 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,169.16 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$56,956.00
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 $1,169.16 $0.00 $0.00 $1,169.16
2 $1,169.16 $1,169.16 $0.00 $6.61 $2,344.93
3 $2,344.93 $1,169.16 $0.00 $13.26 $3,527.35
4 $3,527.35 $1,169.16 $0.00 $19.94 $4,716.45
5 $4,716.45 $1,169.16 $0.00 $26.67 $5,912.28
6 $5,912.28 $1,169.16 $0.00 $33.43 $7,114.87
7 $7,114.87 $1,169.16 $0.00 $40.23 $8,324.26
8 $8,324.26 $1,169.16 $0.00 $47.07 $9,540.49
9 $9,540.49 $1,169.16 $0.00 $53.94 $10,763.59
10 $10,763.59 $1,169.16 $0.00 $60.86 $11,993.61
11 $11,993.61 $1,169.16 $0.00 $67.81 $13,230.58
12 $13,230.58 $1,169.16 $0.00 $74.81 $14,474.55
13 $14,474.55 $1,169.16 $0.00 $81.84 $15,725.55
14 $15,725.55 $1,169.16 $0.00 $88.91 $16,983.62
15 $16,983.62 $1,169.16 $0.00 $96.03 $18,248.81
16 $18,248.81 $1,169.16 $0.00 $103.18 $19,521.15
17 $19,521.15 $1,169.16 $0.00 $110.38 $20,800.69
18 $20,800.69 $1,169.16 $0.00 $117.61 $22,087.46
19 $22,087.46 $1,169.16 $0.00 $124.89 $23,381.51
20 $23,381.51 $1,169.16 $0.00 $132.20 $24,682.87
21 $24,682.87 $1,169.16 $0.00 $139.56 $25,991.59
22 $25,991.59 $1,169.16 $0.00 $146.96 $27,307.71
23 $27,307.71 $1,169.16 $0.00 $154.40 $28,631.27
24 $28,631.27 $1,169.16 $0.00 $161.89 $29,962.32
25 $29,962.32 $1,169.16 $0.00 $169.41 $31,300.89
26 $31,300.89 $1,169.16 $0.00 $176.98 $32,647.03
27 $32,647.03 $1,169.16 $0.00 $184.59 $34,000.78
28 $34,000.78 $1,169.16 $0.00 $192.25 $35,362.19
29 $35,362.19 $1,169.16 $0.00 $199.94 $36,731.29
30 $36,731.29 $1,169.16 $0.00 $207.68 $38,108.13
31 $38,108.13 $1,169.16 $0.00 $215.47 $39,492.76
32 $39,492.76 $1,169.16 $0.00 $223.30 $40,885.22
33 $40,885.22 $1,169.16 $0.00 $231.17 $42,285.55
34 $42,285.55 $1,169.16 $0.00 $239.09 $43,693.80
35 $43,693.80 $1,169.16 $0.00 $247.05 $45,110.01
36 $45,110.01 $1,169.16 $0.00 $255.06 $46,534.23
37 $46,534.23 $1,169.16 $0.00 $263.11 $47,966.50
38 $47,966.50 $1,169.16 $0.00 $271.21 $49,406.87
39 $49,406.87 $1,169.16 $0.00 $279.35 $50,855.38
40 $50,855.38 $1,169.16 $0.00 $287.54 $52,312.08
41 $52,312.08 $1,169.16 $0.00 $295.78 $53,777.02
42 $53,777.02 $1,169.16 $0.00 $304.06 $55,250.24
43 $55,250.24 $1,169.16 $0.00 $312.39 $56,731.79
44 $56,731.79 $1,169.16 $0.00 $320.77 $58,221.72
45 $58,221.72 $1,169.16 $0.00 $329.19 $59,720.07
46 $59,720.07 $1,169.16 $0.00 $337.67 $61,226.90
47 $61,226.90 $1,169.16 $0.00 $346.19 $62,742.25
48 $62,742.25 $1,169.16 $0.00 $354.75 $64,266.16
49 $64,266.16 $1,169.16 $0.00 $363.37 $65,798.69
50 $65,798.69 $1,169.16 $0.00 $372.04 $67,339.89
51 $67,339.89 $1,169.16 $0.00 $380.75 $68,889.80
52 $68,889.80 $1,169.16 $0.00 $389.51 $70,448.47
53 $70,448.47 $1,169.16 $0.00 $398.33 $72,015.96
54 $72,015.96 $1,169.16 $0.00 $407.19 $73,592.31
55 $73,592.31 $1,169.16 $0.00 $416.10 $75,177.57
56 $75,177.57 $1,169.16 $0.00 $425.06 $76,771.79
57 $76,771.79 $1,169.16 $0.00 $434.08 $78,375.03
58 $78,375.03 $1,169.16 $0.00 $443.14 $79,987.33
59 $79,987.33 $1,169.16 $0.00 $452.26 $81,608.75
60 $81,608.75 $1,169.16 $0.00 $461.43 $83,239.34
61 $83,239.34 $1,169.16 $0.00 $470.65 $84,879.15
62 $84,879.15 $1,169.16 $0.00 $479.92 $86,528.23
63 $86,528.23 $1,169.16 $0.00 $489.24 $88,186.63
64 $88,186.63 $1,169.16 $0.00 $498.62 $89,854.41
65 $89,854.41 $1,169.16 $0.00 $508.05 $91,531.62
66 $91,531.62 $1,169.16 $0.00 $517.53 $93,218.31
67 $93,218.31 $1,169.16 $0.00 $527.07 $94,914.54
68 $94,914.54 $1,169.16 $0.00 $536.66 $96,620.36
69 $96,620.36 $1,169.16 $0.00 $546.31 $98,335.83
70 $98,335.83 $1,169.16 $0.00 $556.01 $100,061.00
71 $100,061.00 $1,169.16 $0.00 $565.76 $101,795.92
72 $101,795.92 $1,169.16 $0.00 $575.57 $103,540.65
73 $103,540.65 $1,169.16 $0.00 $585.43 $105,295.24
74 $105,295.24 $1,169.16 $0.00 $595.35 $107,059.75
75 $107,059.75 $1,169.16 $0.00 $605.33 $108,834.24
76 $108,834.24 $1,169.16 $0.00 $615.36 $110,618.76
77 $110,618.76 $1,169.16 $0.00 $625.45 $112,413.37
78 $112,413.37 $1,169.16 $0.00 $635.60 $114,218.13
79 $114,218.13 $1,169.16 $0.00 $645.81 $116,033.10
80 $116,033.10 $1,169.16 $0.00 $656.07 $117,858.33
81 $117,858.33 $1,169.16 $0.00 $666.39 $119,693.88
82 $119,693.88 $1,169.16 $0.00 $676.77 $121,539.81
83 $121,539.81 $1,169.16 $0.00 $687.20 $123,396.17
84 $123,396.17 $1,169.16 $0.00 $697.70 $125,263.03
85 $125,263.03 $1,169.16 $0.00 $708.26 $127,140.45
86 $127,140.45 $1,169.16 $0.00 $718.87 $129,028.48
87 $129,028.48 $1,169.16 $0.00 $729.55 $130,927.19
88 $130,927.19 $1,169.16 $0.00 $740.28 $132,836.63
89 $132,836.63 $1,169.16 $0.00 $751.08 $134,756.87
90 $134,756.87 $1,169.16 $0.00 $761.93 $136,687.96
91 $136,687.96 $1,169.16 $0.00 $772.85 $138,629.97
92 $138,629.97 $1,169.16 $0.00 $783.83 $140,582.96
93 $140,582.96 $1,169.16 $0.00 $794.88 $142,547.00
94 $142,547.00 $1,169.16 $0.00 $805.98 $144,522.14
95 $144,522.14 $1,169.16 $0.00 $817.15 $146,508.45
96 $146,508.45 $1,169.16 $0.00 $828.38 $148,505.99
97 $148,505.99 $1,169.16 $0.00 $839.67 $150,514.82
98 $150,514.82 $1,169.16 $0.00 $851.03 $152,535.01
99 $152,535.01 $1,169.16 $0.00 $862.46 $154,566.63
100 $154,566.63 $1,169.16 $0.00 $873.94 $156,609.73
101 $156,609.73 $1,169.16 $0.00 $885.49 $158,664.38
102 $158,664.38 $1,169.16 $0.00 $897.11 $160,730.65
103 $160,730.65 $1,169.16 $0.00 $908.79 $162,808.60
104 $162,808.60 $1,169.16 $0.00 $920.54 $164,898.30
105 $164,898.30 $1,169.16 $0.00 $932.36 $166,999.82
106 $166,999.82 $1,169.16 $0.00 $944.24 $169,113.22
107 $169,113.22 $1,169.16 $0.00 $956.19 $171,238.57
108 $171,238.57 $1,169.16 $0.00 $968.21 $173,375.94
109 $173,375.94 $1,169.16 $0.00 $980.29 $175,525.39
110 $175,525.39 $1,169.16 $0.00 $992.45 $177,687.00
111 $177,687.00 $1,169.16 $0.00 $1,004.67 $179,860.83
112 $179,860.83 $1,169.16 $0.00 $1,016.96 $182,046.95
113 $182,046.95 $1,169.16 $0.00 $1,029.32 $184,245.43
114 $184,245.43 $1,169.16 $0.00 $1,041.75 $186,456.34
115 $186,456.34 $1,169.16 $0.00 $1,054.25 $188,679.75
116 $188,679.75 $1,169.16 $0.00 $1,066.82 $190,915.73
117 $190,915.73 $1,169.16 $0.00 $1,079.47 $193,164.36
118 $193,164.36 $1,169.16 $0.00 $1,092.18 $195,425.70
119 $195,425.70 $1,169.16 $0.00 $1,104.97 $197,699.83
120 $197,699.83 $1,169.16 $0.00 $1,117.82 $199,986.81
121 $199,986.81 $1,169.16 $0.00 $1,130.75 $202,286.72
122 $202,286.72 $1,169.16 $0.00 $1,143.76 $204,599.64
123 $204,599.64 $1,169.16 $0.00 $1,156.84 $206,925.64
124 $206,925.64 $1,169.16 $0.00 $1,169.99 $209,264.79
125 $209,264.79 $1,169.16 $0.00 $1,183.21 $211,617.16
126 $211,617.16 $1,169.16 $0.00 $1,196.51 $213,982.83
127 $213,982.83 $1,169.16 $0.00 $1,209.89 $216,361.88
128 $216,361.88 $1,169.16 $0.00 $1,223.34 $218,754.38
129 $218,754.38 $1,169.16 $0.00 $1,236.87 $221,160.41
130 $221,160.41 $1,169.16 $0.00 $1,250.47 $223,580.04
131 $223,580.04 $1,169.16 $0.00 $1,264.15 $226,013.35
132 $226,013.35 $1,169.16 $0.00 $1,277.91 $228,460.42
133 $228,460.42 $1,169.16 $0.00 $1,291.75 $230,921.33
134 $230,921.33 $1,169.16 $0.00 $1,305.66 $233,396.15
135 $233,396.15 $1,169.16 $0.00 $1,319.66 $235,884.97
136 $235,884.97 $1,169.16 $0.00 $1,333.73 $238,387.86
137 $238,387.86 $1,169.16 $0.00 $1,347.88 $240,904.90
138 $240,904.90 $1,169.16 $0.00 $1,362.11 $243,436.17
139 $243,436.17 $1,169.16 $0.00 $1,376.42 $245,981.75
140 $245,981.75 $1,169.16 $0.00 $1,390.82 $248,541.73
141 $248,541.73 $1,169.16 $0.00 $1,405.29 $251,116.18
142 $251,116.18 $1,169.16 $0.00 $1,419.85 $253,705.19
143 $253,705.19 $1,169.16 $0.00 $1,434.49 $256,308.84
144 $256,308.84 $1,169.16 $0.00 $1,449.21 $258,927.21
145 $258,927.21 $1,169.16 $0.00 $1,464.01 $261,560.38
146 $261,560.38 $1,169.16 $0.00 $1,478.90 $264,208.44
147 $264,208.44 $1,169.16 $0.00 $1,493.87 $266,871.47
148 $266,871.47 $1,169.16 $0.00 $1,508.93 $269,549.56
149 $269,549.56 $1,169.16 $0.00 $1,524.07 $272,242.79
150 $272,242.79 $1,169.16 $0.00 $1,539.30 $274,951.25
151 $274,951.25 $1,169.16 $0.00 $1,554.61 $277,675.02
152 $277,675.02 $1,169.16 $0.00 $1,570.01 $280,414.19
153 $280,414.19 $1,169.16 $0.00 $1,585.50 $283,168.85
154 $283,168.85 $1,169.16 $0.00 $1,601.08 $285,939.09
155 $285,939.09 $1,169.16 $0.00 $1,616.74 $288,724.99
156 $288,724.99 $1,169.16 $0.00 $1,632.49 $291,526.64
157 $291,526.64 $1,169.16 $0.00 $1,648.33 $294,344.13
158 $294,344.13 $1,169.16 $0.00 $1,664.26 $297,177.55
159 $297,177.55 $1,169.16 $0.00 $1,680.29 $300,027.00
160 $300,027.00 $1,169.16 $0.00 $1,696.40 $302,892.56
161 $302,892.56 $1,169.16 $0.00 $1,712.60 $305,774.32
162 $305,774.32 $1,169.16 $0.00 $1,728.89 $308,672.37
163 $308,672.37 $1,169.16 $0.00 $1,745.28 $311,586.81
164 $311,586.81 $1,169.16 $0.00 $1,761.76 $314,517.73
165 $314,517.73 $1,169.16 $0.00 $1,778.33 $317,465.22
166 $317,465.22 $1,169.16 $0.00 $1,794.99 $320,429.37
167 $320,429.37 $1,169.16 $0.00 $1,811.75 $323,410.28
168 $323,410.28 $1,169.16 $0.00 $1,828.61 $326,408.05
169 $326,408.05 $1,169.16 $0.00 $1,845.56 $329,422.77
170 $329,422.77 $1,169.16 $0.00 $1,862.60 $332,454.53
171 $332,454.53 $1,169.16 $0.00 $1,879.75 $335,503.44
172 $335,503.44 $1,169.16 $0.00 $1,896.99 $338,569.59
173 $338,569.59 $1,169.16 $0.00 $1,914.32 $341,653.07
174 $341,653.07 $1,169.16 $0.00 $1,931.76 $344,753.99
175 $344,753.99 $1,169.16 $0.00 $1,949.29 $347,872.44
176 $347,872.44 $1,169.16 $0.00 $1,966.92 $351,008.52
177 $351,008.52 $1,169.16 $0.00 $1,984.65 $354,162.33
178 $354,162.33 $1,169.16 $0.00 $2,002.49 $357,333.98
179 $357,333.98 $1,169.16 $0.00 $2,020.42 $360,523.56
180 $360,523.56 $1,169.16 $0.00 $2,038.45 $363,731.17
181 $363,731.17 $1,169.16 $0.00 $2,056.59 $366,956.92
182 $366,956.92 $1,169.16 $0.00 $2,074.83 $370,200.91
183 $370,200.91 $1,169.16 $0.00 $2,093.17 $373,463.24
184 $373,463.24 $1,169.16 $0.00 $2,111.62 $376,744.02
185 $376,744.02 $1,169.16 $0.00 $2,130.17 $380,043.35
186 $380,043.35 $1,169.16 $0.00 $2,148.82 $383,361.33
187 $383,361.33 $1,169.16 $0.00 $2,167.58 $386,698.07
188 $386,698.07 $1,169.16 $0.00 $2,186.45 $390,053.68
189 $390,053.68 $1,169.16 $0.00 $2,205.42 $393,428.26
190 $393,428.26 $1,169.16 $0.00 $2,224.50 $396,821.92
191 $396,821.92 $1,169.16 $0.00 $2,243.69 $400,234.77
192 $400,234.77 $1,169.16 $0.00 $2,262.99 $403,666.92
193 $403,666.92 $1,169.16 $0.00 $2,282.39 $407,118.47
194 $407,118.47 $1,169.16 $0.00 $2,301.91 $410,589.54
195 $410,589.54 $1,169.16 $0.00 $2,321.53 $414,080.23
196 $414,080.23 $1,169.16 $0.00 $2,341.27 $417,590.66
197 $417,590.66 $1,169.16 $0.00 $2,361.12 $421,120.94
198 $421,120.94 $1,169.16 $0.00 $2,381.08 $424,671.18
199 $424,671.18 $1,169.16 $0.00 $2,401.15 $428,241.49
200 $428,241.49 $1,169.16 $0.00 $2,421.34 $431,831.99
201 $431,831.99 $1,169.16 $0.00 $2,441.64 $435,442.79
202 $435,442.79 $1,169.16 $0.00 $2,462.06 $439,074.01
203 $439,074.01 $1,169.16 $0.00 $2,482.59 $442,725.76
204 $442,725.76 $1,169.16 $0.00 $2,503.24 $446,398.16
205 $446,398.16 $1,169.16 $0.00 $2,524.00 $450,091.32
206 $450,091.32 $1,169.16 $0.00 $2,544.88 $453,805.36
207 $453,805.36 $1,169.16 $0.00 $2,565.88 $457,540.40
208 $457,540.40 $1,169.16 $0.00 $2,587.00 $461,296.56
209 $461,296.56 $1,169.16 $0.00 $2,608.24 $465,073.96
210 $465,073.96 $1,169.16 $0.00 $2,629.60 $468,872.72
211 $468,872.72 $1,169.16 $0.00 $2,651.07 $472,692.95
212 $472,692.95 $1,169.16 $0.00 $2,672.67 $476,534.78
213 $476,534.78 $1,169.16 $0.00 $2,694.40 $480,398.34
214 $480,398.34 $1,169.16 $0.00 $2,716.24 $484,283.74
215 $484,283.74 $1,169.16 $0.00 $2,738.21 $488,191.11
216 $488,191.11 $1,169.16 $0.00 $2,760.30 $492,120.57
217 $492,120.57 $1,169.16 $137,071.41 $2,782.52 $359,000.84
218 $359,000.84 $1,169.16 $0.00 $2,029.84 $362,199.84
219 $362,199.84 $1,169.16 $0.00 $2,047.93 $365,416.93
220 $365,416.93 $1,169.16 $0.00 $2,066.12 $368,652.21
221 $368,652.21 $1,169.16 $0.00 $2,084.41 $371,905.78
222 $371,905.78 $1,169.16 $0.00 $2,102.81 $375,177.75
223 $375,177.75 $1,169.16 $0.00 $2,121.31 $378,468.22
224 $378,468.22 $1,169.16 $0.00 $2,139.91 $381,777.29
225 $381,777.29 $1,169.16 $0.00 $2,158.62 $385,105.07
226 $385,105.07 $1,169.16 $0.00 $2,177.44 $388,451.67
227 $388,451.67 $1,169.16 $0.00 $2,196.36 $391,817.19
228 $391,817.19 $1,169.16 $0.00 $2,215.39 $395,201.74
229 $395,201.74 $1,169.16 $143,924.98 $2,234.53 $254,680.45
230 $254,680.45 $1,169.16 $0.00 $1,440.00 $257,289.61
231 $257,289.61 $1,169.16 $0.00 $1,454.75 $259,913.52
232 $259,913.52 $1,169.16 $0.00 $1,469.59 $262,552.27
233 $262,552.27 $1,169.16 $0.00 $1,484.51 $265,205.94
234 $265,205.94 $1,169.16 $0.00 $1,499.51 $267,874.61
235 $267,874.61 $1,169.16 $0.00 $1,514.60 $270,558.37
236 $270,558.37 $1,169.16 $0.00 $1,529.78 $273,257.31
237 $273,257.31 $1,169.16 $0.00 $1,545.04 $275,971.51
238 $275,971.51 $1,169.16 $0.00 $1,560.38 $278,701.05
239 $278,701.05 $1,169.16 $0.00 $1,575.82 $281,446.03
240 $281,446.03 $1,169.16 $0.00 $1,591.34 $284,206.53
241 $284,206.53 $1,169.16 $151,121.22 $1,606.95 $135,861.42
242 $135,861.42 $1,169.16 $0.00 $768.18 $137,798.76
243 $137,798.76 $1,169.16 $0.00 $779.13 $139,747.05
244 $139,747.05 $1,169.16 $0.00 $790.15 $141,706.36
245 $141,706.36 $1,169.16 $0.00 $801.23 $143,676.75
246 $143,676.75 $1,169.16 $0.00 $812.37 $145,658.28
247 $145,658.28 $1,169.16 $0.00 $823.57 $147,651.01
248 $147,651.01 $1,169.16 $0.00 $834.84 $149,655.01
249 $149,655.01 $1,169.16 $0.00 $846.17 $151,670.34
250 $151,670.34 $1,169.16 $0.00 $857.57 $153,697.07
251 $153,697.07 $1,169.16 $0.00 $869.03 $155,735.26
252 $155,735.26 $1,169.16 $0.00 $880.55 $157,784.97
253 $157,784.97 $0.00 $158,677.29 $892.14 ($0.18)