Savings Plan and Future Cost Estimation for Florida Southern College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$142,886
Monthly savings required$1,131

How much will it cost to send your child to Florida Southern College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $571,542.92 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,131.06 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$55,100.00
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 $1,131.06 $0.00 $0.00 $1,131.06
2 $1,131.06 $1,131.06 $0.00 $6.40 $2,268.52
3 $2,268.52 $1,131.06 $0.00 $12.83 $3,412.41
4 $3,412.41 $1,131.06 $0.00 $19.29 $4,562.76
5 $4,562.76 $1,131.06 $0.00 $25.80 $5,719.62
6 $5,719.62 $1,131.06 $0.00 $32.34 $6,883.02
7 $6,883.02 $1,131.06 $0.00 $38.92 $8,053.00
8 $8,053.00 $1,131.06 $0.00 $45.53 $9,229.59
9 $9,229.59 $1,131.06 $0.00 $52.19 $10,412.84
10 $10,412.84 $1,131.06 $0.00 $58.88 $11,602.78
11 $11,602.78 $1,131.06 $0.00 $65.60 $12,799.44
12 $12,799.44 $1,131.06 $0.00 $72.37 $14,002.87
13 $14,002.87 $1,131.06 $0.00 $79.17 $15,213.10
14 $15,213.10 $1,131.06 $0.00 $86.02 $16,430.18
15 $16,430.18 $1,131.06 $0.00 $92.90 $17,654.14
16 $17,654.14 $1,131.06 $0.00 $99.82 $18,885.02
17 $18,885.02 $1,131.06 $0.00 $106.78 $20,122.86
18 $20,122.86 $1,131.06 $0.00 $113.78 $21,367.70
19 $21,367.70 $1,131.06 $0.00 $120.82 $22,619.58
20 $22,619.58 $1,131.06 $0.00 $127.89 $23,878.53
21 $23,878.53 $1,131.06 $0.00 $135.01 $25,144.60
22 $25,144.60 $1,131.06 $0.00 $142.17 $26,417.83
23 $26,417.83 $1,131.06 $0.00 $149.37 $27,698.26
24 $27,698.26 $1,131.06 $0.00 $156.61 $28,985.93
25 $28,985.93 $1,131.06 $0.00 $163.89 $30,280.88
26 $30,280.88 $1,131.06 $0.00 $171.21 $31,583.15
27 $31,583.15 $1,131.06 $0.00 $178.58 $32,892.79
28 $32,892.79 $1,131.06 $0.00 $185.98 $34,209.83
29 $34,209.83 $1,131.06 $0.00 $193.43 $35,534.32
30 $35,534.32 $1,131.06 $0.00 $200.92 $36,866.30
31 $36,866.30 $1,131.06 $0.00 $208.45 $38,205.81
32 $38,205.81 $1,131.06 $0.00 $216.02 $39,552.89
33 $39,552.89 $1,131.06 $0.00 $223.64 $40,907.59
34 $40,907.59 $1,131.06 $0.00 $231.30 $42,269.95
35 $42,269.95 $1,131.06 $0.00 $239.00 $43,640.01
36 $43,640.01 $1,131.06 $0.00 $246.75 $45,017.82
37 $45,017.82 $1,131.06 $0.00 $254.54 $46,403.42
38 $46,403.42 $1,131.06 $0.00 $262.37 $47,796.85
39 $47,796.85 $1,131.06 $0.00 $270.25 $49,198.16
40 $49,198.16 $1,131.06 $0.00 $278.17 $50,607.39
41 $50,607.39 $1,131.06 $0.00 $286.14 $52,024.59
42 $52,024.59 $1,131.06 $0.00 $294.15 $53,449.80
43 $53,449.80 $1,131.06 $0.00 $302.21 $54,883.07
44 $54,883.07 $1,131.06 $0.00 $310.32 $56,324.45
45 $56,324.45 $1,131.06 $0.00 $318.47 $57,773.98
46 $57,773.98 $1,131.06 $0.00 $326.66 $59,231.70
47 $59,231.70 $1,131.06 $0.00 $334.90 $60,697.66
48 $60,697.66 $1,131.06 $0.00 $343.19 $62,171.91
49 $62,171.91 $1,131.06 $0.00 $351.53 $63,654.50
50 $63,654.50 $1,131.06 $0.00 $359.91 $65,145.47
51 $65,145.47 $1,131.06 $0.00 $368.34 $66,644.87
52 $66,644.87 $1,131.06 $0.00 $376.82 $68,152.75
53 $68,152.75 $1,131.06 $0.00 $385.35 $69,669.16
54 $69,669.16 $1,131.06 $0.00 $393.92 $71,194.14
55 $71,194.14 $1,131.06 $0.00 $402.54 $72,727.74
56 $72,727.74 $1,131.06 $0.00 $411.21 $74,270.01
57 $74,270.01 $1,131.06 $0.00 $419.93 $75,821.00
58 $75,821.00 $1,131.06 $0.00 $428.70 $77,380.76
59 $77,380.76 $1,131.06 $0.00 $437.52 $78,949.34
60 $78,949.34 $1,131.06 $0.00 $446.39 $80,526.79
61 $80,526.79 $1,131.06 $0.00 $455.31 $82,113.16
62 $82,113.16 $1,131.06 $0.00 $464.28 $83,708.50
63 $83,708.50 $1,131.06 $0.00 $473.30 $85,312.86
64 $85,312.86 $1,131.06 $0.00 $482.37 $86,926.29
65 $86,926.29 $1,131.06 $0.00 $491.49 $88,548.84
66 $88,548.84 $1,131.06 $0.00 $500.67 $90,180.57
67 $90,180.57 $1,131.06 $0.00 $509.89 $91,821.52
68 $91,821.52 $1,131.06 $0.00 $519.17 $93,471.75
69 $93,471.75 $1,131.06 $0.00 $528.50 $95,131.31
70 $95,131.31 $1,131.06 $0.00 $537.89 $96,800.26
71 $96,800.26 $1,131.06 $0.00 $547.32 $98,478.64
72 $98,478.64 $1,131.06 $0.00 $556.81 $100,166.51
73 $100,166.51 $1,131.06 $0.00 $566.36 $101,863.93
74 $101,863.93 $1,131.06 $0.00 $575.95 $103,570.94
75 $103,570.94 $1,131.06 $0.00 $585.61 $105,287.61
76 $105,287.61 $1,131.06 $0.00 $595.31 $107,013.98
77 $107,013.98 $1,131.06 $0.00 $605.07 $108,750.11
78 $108,750.11 $1,131.06 $0.00 $614.89 $110,496.06
79 $110,496.06 $1,131.06 $0.00 $624.76 $112,251.88
80 $112,251.88 $1,131.06 $0.00 $634.69 $114,017.63
81 $114,017.63 $1,131.06 $0.00 $644.67 $115,793.36
82 $115,793.36 $1,131.06 $0.00 $654.71 $117,579.13
83 $117,579.13 $1,131.06 $0.00 $664.81 $119,375.00
84 $119,375.00 $1,131.06 $0.00 $674.96 $121,181.02
85 $121,181.02 $1,131.06 $0.00 $685.18 $122,997.26
86 $122,997.26 $1,131.06 $0.00 $695.44 $124,823.76
87 $124,823.76 $1,131.06 $0.00 $705.77 $126,660.59
88 $126,660.59 $1,131.06 $0.00 $716.16 $128,507.81
89 $128,507.81 $1,131.06 $0.00 $726.60 $130,365.47
90 $130,365.47 $1,131.06 $0.00 $737.11 $132,233.64
91 $132,233.64 $1,131.06 $0.00 $747.67 $134,112.37
92 $134,112.37 $1,131.06 $0.00 $758.29 $136,001.72
93 $136,001.72 $1,131.06 $0.00 $768.97 $137,901.75
94 $137,901.75 $1,131.06 $0.00 $779.72 $139,812.53
95 $139,812.53 $1,131.06 $0.00 $790.52 $141,734.11
96 $141,734.11 $1,131.06 $0.00 $801.39 $143,666.56
97 $143,666.56 $1,131.06 $0.00 $812.31 $145,609.93
98 $145,609.93 $1,131.06 $0.00 $823.30 $147,564.29
99 $147,564.29 $1,131.06 $0.00 $834.35 $149,529.70
100 $149,529.70 $1,131.06 $0.00 $845.46 $151,506.22
101 $151,506.22 $1,131.06 $0.00 $856.64 $153,493.92
102 $153,493.92 $1,131.06 $0.00 $867.88 $155,492.86
103 $155,492.86 $1,131.06 $0.00 $879.18 $157,503.10
104 $157,503.10 $1,131.06 $0.00 $890.55 $159,524.71
105 $159,524.71 $1,131.06 $0.00 $901.98 $161,557.75
106 $161,557.75 $1,131.06 $0.00 $913.47 $163,602.28
107 $163,602.28 $1,131.06 $0.00 $925.03 $165,658.37
108 $165,658.37 $1,131.06 $0.00 $936.66 $167,726.09
109 $167,726.09 $1,131.06 $0.00 $948.35 $169,805.50
110 $169,805.50 $1,131.06 $0.00 $960.10 $171,896.66
111 $171,896.66 $1,131.06 $0.00 $971.93 $173,999.65
112 $173,999.65 $1,131.06 $0.00 $983.82 $176,114.53
113 $176,114.53 $1,131.06 $0.00 $995.78 $178,241.37
114 $178,241.37 $1,131.06 $0.00 $1,007.80 $180,380.23
115 $180,380.23 $1,131.06 $0.00 $1,019.90 $182,531.19
116 $182,531.19 $1,131.06 $0.00 $1,032.06 $184,694.31
117 $184,694.31 $1,131.06 $0.00 $1,044.29 $186,869.66
118 $186,869.66 $1,131.06 $0.00 $1,056.59 $189,057.31
119 $189,057.31 $1,131.06 $0.00 $1,068.96 $191,257.33
120 $191,257.33 $1,131.06 $0.00 $1,081.40 $193,469.79
121 $193,469.79 $1,131.06 $0.00 $1,093.91 $195,694.76
122 $195,694.76 $1,131.06 $0.00 $1,106.49 $197,932.31
123 $197,932.31 $1,131.06 $0.00 $1,119.14 $200,182.51
124 $200,182.51 $1,131.06 $0.00 $1,131.86 $202,445.43
125 $202,445.43 $1,131.06 $0.00 $1,144.66 $204,721.15
126 $204,721.15 $1,131.06 $0.00 $1,157.52 $207,009.73
127 $207,009.73 $1,131.06 $0.00 $1,170.46 $209,311.25
128 $209,311.25 $1,131.06 $0.00 $1,183.48 $211,625.79
129 $211,625.79 $1,131.06 $0.00 $1,196.56 $213,953.41
130 $213,953.41 $1,131.06 $0.00 $1,209.72 $216,294.19
131 $216,294.19 $1,131.06 $0.00 $1,222.96 $218,648.21
132 $218,648.21 $1,131.06 $0.00 $1,236.27 $221,015.54
133 $221,015.54 $1,131.06 $0.00 $1,249.65 $223,396.25
134 $223,396.25 $1,131.06 $0.00 $1,263.11 $225,790.42
135 $225,790.42 $1,131.06 $0.00 $1,276.65 $228,198.13
136 $228,198.13 $1,131.06 $0.00 $1,290.27 $230,619.46
137 $230,619.46 $1,131.06 $0.00 $1,303.96 $233,054.48
138 $233,054.48 $1,131.06 $0.00 $1,317.72 $235,503.26
139 $235,503.26 $1,131.06 $0.00 $1,331.57 $237,965.89
140 $237,965.89 $1,131.06 $0.00 $1,345.49 $240,442.44
141 $240,442.44 $1,131.06 $0.00 $1,359.50 $242,933.00
142 $242,933.00 $1,131.06 $0.00 $1,373.58 $245,437.64
143 $245,437.64 $1,131.06 $0.00 $1,387.74 $247,956.44
144 $247,956.44 $1,131.06 $0.00 $1,401.98 $250,489.48
145 $250,489.48 $1,131.06 $0.00 $1,416.30 $253,036.84
146 $253,036.84 $1,131.06 $0.00 $1,430.71 $255,598.61
147 $255,598.61 $1,131.06 $0.00 $1,445.19 $258,174.86
148 $258,174.86 $1,131.06 $0.00 $1,459.76 $260,765.68
149 $260,765.68 $1,131.06 $0.00 $1,474.41 $263,371.15
150 $263,371.15 $1,131.06 $0.00 $1,489.14 $265,991.35
151 $265,991.35 $1,131.06 $0.00 $1,503.95 $268,626.36
152 $268,626.36 $1,131.06 $0.00 $1,518.85 $271,276.27
153 $271,276.27 $1,131.06 $0.00 $1,533.84 $273,941.17
154 $273,941.17 $1,131.06 $0.00 $1,548.90 $276,621.13
155 $276,621.13 $1,131.06 $0.00 $1,564.06 $279,316.25
156 $279,316.25 $1,131.06 $0.00 $1,579.29 $282,026.60
157 $282,026.60 $1,131.06 $0.00 $1,594.62 $284,752.28
158 $284,752.28 $1,131.06 $0.00 $1,610.03 $287,493.37
159 $287,493.37 $1,131.06 $0.00 $1,625.53 $290,249.96
160 $290,249.96 $1,131.06 $0.00 $1,641.12 $293,022.14
161 $293,022.14 $1,131.06 $0.00 $1,656.79 $295,809.99
162 $295,809.99 $1,131.06 $0.00 $1,672.55 $298,613.60
163 $298,613.60 $1,131.06 $0.00 $1,688.40 $301,433.06
164 $301,433.06 $1,131.06 $0.00 $1,704.35 $304,268.47
165 $304,268.47 $1,131.06 $0.00 $1,720.38 $307,119.91
166 $307,119.91 $1,131.06 $0.00 $1,736.50 $309,987.47
167 $309,987.47 $1,131.06 $0.00 $1,752.71 $312,871.24
168 $312,871.24 $1,131.06 $0.00 $1,769.02 $315,771.32
169 $315,771.32 $1,131.06 $0.00 $1,785.42 $318,687.80
170 $318,687.80 $1,131.06 $0.00 $1,801.91 $321,620.77
171 $321,620.77 $1,131.06 $0.00 $1,818.49 $324,570.32
172 $324,570.32 $1,131.06 $0.00 $1,835.17 $327,536.55
173 $327,536.55 $1,131.06 $0.00 $1,851.94 $330,519.55
174 $330,519.55 $1,131.06 $0.00 $1,868.81 $333,519.42
175 $333,519.42 $1,131.06 $0.00 $1,885.77 $336,536.25
176 $336,536.25 $1,131.06 $0.00 $1,902.82 $339,570.13
177 $339,570.13 $1,131.06 $0.00 $1,919.98 $342,621.17
178 $342,621.17 $1,131.06 $0.00 $1,937.23 $345,689.46
179 $345,689.46 $1,131.06 $0.00 $1,954.58 $348,775.10
180 $348,775.10 $1,131.06 $0.00 $1,972.03 $351,878.19
181 $351,878.19 $1,131.06 $0.00 $1,989.57 $354,998.82
182 $354,998.82 $1,131.06 $0.00 $2,007.21 $358,137.09
183 $358,137.09 $1,131.06 $0.00 $2,024.96 $361,293.11
184 $361,293.11 $1,131.06 $0.00 $2,042.80 $364,466.97
185 $364,466.97 $1,131.06 $0.00 $2,060.75 $367,658.78
186 $367,658.78 $1,131.06 $0.00 $2,078.80 $370,868.64
187 $370,868.64 $1,131.06 $0.00 $2,096.95 $374,096.65
188 $374,096.65 $1,131.06 $0.00 $2,115.20 $377,342.91
189 $377,342.91 $1,131.06 $0.00 $2,133.55 $380,607.52
190 $380,607.52 $1,131.06 $0.00 $2,152.01 $383,890.59
191 $383,890.59 $1,131.06 $0.00 $2,170.57 $387,192.22
192 $387,192.22 $1,131.06 $0.00 $2,189.24 $390,512.52
193 $390,512.52 $1,131.06 $0.00 $2,208.01 $393,851.59
194 $393,851.59 $1,131.06 $0.00 $2,226.89 $397,209.54
195 $397,209.54 $1,131.06 $0.00 $2,245.88 $400,586.48
196 $400,586.48 $1,131.06 $0.00 $2,264.97 $403,982.51
197 $403,982.51 $1,131.06 $0.00 $2,284.18 $407,397.75
198 $407,397.75 $1,131.06 $0.00 $2,303.49 $410,832.30
199 $410,832.30 $1,131.06 $0.00 $2,322.91 $414,286.27
200 $414,286.27 $1,131.06 $0.00 $2,342.43 $417,759.76
201 $417,759.76 $1,131.06 $0.00 $2,362.07 $421,252.89
202 $421,252.89 $1,131.06 $0.00 $2,381.83 $424,765.78
203 $424,765.78 $1,131.06 $0.00 $2,401.69 $428,298.53
204 $428,298.53 $1,131.06 $0.00 $2,421.66 $431,851.25
205 $431,851.25 $1,131.06 $0.00 $2,441.75 $435,424.06
206 $435,424.06 $1,131.06 $0.00 $2,461.95 $439,017.07
207 $439,017.07 $1,131.06 $0.00 $2,482.27 $442,630.40
208 $442,630.40 $1,131.06 $0.00 $2,502.70 $446,264.16
209 $446,264.16 $1,131.06 $0.00 $2,523.24 $449,918.46
210 $449,918.46 $1,131.06 $0.00 $2,543.90 $453,593.42
211 $453,593.42 $1,131.06 $0.00 $2,564.68 $457,289.16
212 $457,289.16 $1,131.06 $0.00 $2,585.58 $461,005.80
213 $461,005.80 $1,131.06 $0.00 $2,606.59 $464,743.45
214 $464,743.45 $1,131.06 $0.00 $2,627.73 $468,502.24
215 $468,502.24 $1,131.06 $0.00 $2,648.98 $472,282.28
216 $472,282.28 $1,131.06 $0.00 $2,670.35 $476,083.69
217 $476,083.69 $1,131.06 $132,604.72 $2,691.85 $347,301.88
218 $347,301.88 $1,131.06 $0.00 $1,963.70 $350,396.64
219 $350,396.64 $1,131.06 $0.00 $1,981.19 $353,508.89
220 $353,508.89 $1,131.06 $0.00 $1,998.79 $356,638.74
221 $356,638.74 $1,131.06 $0.00 $2,016.49 $359,786.29
222 $359,786.29 $1,131.06 $0.00 $2,034.28 $362,951.63
223 $362,951.63 $1,131.06 $0.00 $2,052.18 $366,134.87
224 $366,134.87 $1,131.06 $0.00 $2,070.18 $369,336.11
225 $369,336.11 $1,131.06 $0.00 $2,088.28 $372,555.45
226 $372,555.45 $1,131.06 $0.00 $2,106.48 $375,792.99
227 $375,792.99 $1,131.06 $0.00 $2,124.79 $379,048.84
228 $379,048.84 $1,131.06 $0.00 $2,143.20 $382,323.10
229 $382,323.10 $1,131.06 $139,234.96 $2,161.71 $246,380.91
230 $246,380.91 $1,131.06 $0.00 $1,393.07 $248,905.04
231 $248,905.04 $1,131.06 $0.00 $1,407.35 $251,443.45
232 $251,443.45 $1,131.06 $0.00 $1,421.70 $253,996.21
233 $253,996.21 $1,131.06 $0.00 $1,436.13 $256,563.40
234 $256,563.40 $1,131.06 $0.00 $1,450.65 $259,145.11
235 $259,145.11 $1,131.06 $0.00 $1,465.24 $261,741.41
236 $261,741.41 $1,131.06 $0.00 $1,479.92 $264,352.39
237 $264,352.39 $1,131.06 $0.00 $1,494.69 $266,978.14
238 $266,978.14 $1,131.06 $0.00 $1,509.53 $269,618.73
239 $269,618.73 $1,131.06 $0.00 $1,524.46 $272,274.25
240 $272,274.25 $1,131.06 $0.00 $1,539.48 $274,944.79
241 $274,944.79 $1,131.06 $146,196.70 $1,554.58 $131,433.73
242 $131,433.73 $1,131.06 $0.00 $743.15 $133,307.94
243 $133,307.94 $1,131.06 $0.00 $753.74 $135,192.74
244 $135,192.74 $1,131.06 $0.00 $764.40 $137,088.20
245 $137,088.20 $1,131.06 $0.00 $775.12 $138,994.38
246 $138,994.38 $1,131.06 $0.00 $785.89 $140,911.33
247 $140,911.33 $1,131.06 $0.00 $796.73 $142,839.12
248 $142,839.12 $1,131.06 $0.00 $807.63 $144,777.81
249 $144,777.81 $1,131.06 $0.00 $818.59 $146,727.46
250 $146,727.46 $1,131.06 $0.00 $829.62 $148,688.14
251 $148,688.14 $1,131.06 $0.00 $840.70 $150,659.90
252 $150,659.90 $1,131.06 $0.00 $851.85 $152,642.81
253 $152,642.81 $0.00 $153,506.54 $863.06 ($0.67)