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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$80,465
Monthly savings required$637

How much will it cost to send your child to Hodges University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $321,858.53 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $636.94 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$31,029.00
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 $636.94 $0.00 $0.00 $636.94
2 $636.94 $636.94 $0.00 $3.60 $1,277.48
3 $1,277.48 $636.94 $0.00 $7.22 $1,921.64
4 $1,921.64 $636.94 $0.00 $10.87 $2,569.45
5 $2,569.45 $636.94 $0.00 $14.53 $3,220.92
6 $3,220.92 $636.94 $0.00 $18.21 $3,876.07
7 $3,876.07 $636.94 $0.00 $21.92 $4,534.93
8 $4,534.93 $636.94 $0.00 $25.64 $5,197.51
9 $5,197.51 $636.94 $0.00 $29.39 $5,863.84
10 $5,863.84 $636.94 $0.00 $33.16 $6,533.94
11 $6,533.94 $636.94 $0.00 $36.94 $7,207.82
12 $7,207.82 $636.94 $0.00 $40.75 $7,885.51
13 $7,885.51 $636.94 $0.00 $44.59 $8,567.04
14 $8,567.04 $636.94 $0.00 $48.44 $9,252.42
15 $9,252.42 $636.94 $0.00 $52.31 $9,941.67
16 $9,941.67 $636.94 $0.00 $56.21 $10,634.82
17 $10,634.82 $636.94 $0.00 $60.13 $11,331.89
18 $11,331.89 $636.94 $0.00 $64.07 $12,032.90
19 $12,032.90 $636.94 $0.00 $68.04 $12,737.88
20 $12,737.88 $636.94 $0.00 $72.02 $13,446.84
21 $13,446.84 $636.94 $0.00 $76.03 $14,159.81
22 $14,159.81 $636.94 $0.00 $80.06 $14,876.81
23 $14,876.81 $636.94 $0.00 $84.12 $15,597.87
24 $15,597.87 $636.94 $0.00 $88.19 $16,323.00
25 $16,323.00 $636.94 $0.00 $92.29 $17,052.23
26 $17,052.23 $636.94 $0.00 $96.42 $17,785.59
27 $17,785.59 $636.94 $0.00 $100.56 $18,523.09
28 $18,523.09 $636.94 $0.00 $104.73 $19,264.76
29 $19,264.76 $636.94 $0.00 $108.93 $20,010.63
30 $20,010.63 $636.94 $0.00 $113.14 $20,760.71
31 $20,760.71 $636.94 $0.00 $117.38 $21,515.03
32 $21,515.03 $636.94 $0.00 $121.65 $22,273.62
33 $22,273.62 $636.94 $0.00 $125.94 $23,036.50
34 $23,036.50 $636.94 $0.00 $130.25 $23,803.69
35 $23,803.69 $636.94 $0.00 $134.59 $24,575.22
36 $24,575.22 $636.94 $0.00 $138.95 $25,351.11
37 $25,351.11 $636.94 $0.00 $143.34 $26,131.39
38 $26,131.39 $636.94 $0.00 $147.75 $26,916.08
39 $26,916.08 $636.94 $0.00 $152.19 $27,705.21
40 $27,705.21 $636.94 $0.00 $156.65 $28,498.80
41 $28,498.80 $636.94 $0.00 $161.14 $29,296.88
42 $29,296.88 $636.94 $0.00 $165.65 $30,099.47
43 $30,099.47 $636.94 $0.00 $170.19 $30,906.60
44 $30,906.60 $636.94 $0.00 $174.75 $31,718.29
45 $31,718.29 $636.94 $0.00 $179.34 $32,534.57
46 $32,534.57 $636.94 $0.00 $183.96 $33,355.47
47 $33,355.47 $636.94 $0.00 $188.60 $34,181.01
48 $34,181.01 $636.94 $0.00 $193.26 $35,011.21
49 $35,011.21 $636.94 $0.00 $197.96 $35,846.11
50 $35,846.11 $636.94 $0.00 $202.68 $36,685.73
51 $36,685.73 $636.94 $0.00 $207.43 $37,530.10
52 $37,530.10 $636.94 $0.00 $212.20 $38,379.24
53 $38,379.24 $636.94 $0.00 $217.00 $39,233.18
54 $39,233.18 $636.94 $0.00 $221.83 $40,091.95
55 $40,091.95 $636.94 $0.00 $226.69 $40,955.58
56 $40,955.58 $636.94 $0.00 $231.57 $41,824.09
57 $41,824.09 $636.94 $0.00 $236.48 $42,697.51
58 $42,697.51 $636.94 $0.00 $241.42 $43,575.87
59 $43,575.87 $636.94 $0.00 $246.38 $44,459.19
60 $44,459.19 $636.94 $0.00 $251.38 $45,347.51
61 $45,347.51 $636.94 $0.00 $256.40 $46,240.85
62 $46,240.85 $636.94 $0.00 $261.45 $47,139.24
63 $47,139.24 $636.94 $0.00 $266.53 $48,042.71
64 $48,042.71 $636.94 $0.00 $271.64 $48,951.29
65 $48,951.29 $636.94 $0.00 $276.78 $49,865.01
66 $49,865.01 $636.94 $0.00 $281.94 $50,783.89
67 $50,783.89 $636.94 $0.00 $287.14 $51,707.97
68 $51,707.97 $636.94 $0.00 $292.36 $52,637.27
69 $52,637.27 $636.94 $0.00 $297.62 $53,571.83
70 $53,571.83 $636.94 $0.00 $302.90 $54,511.67
71 $54,511.67 $636.94 $0.00 $308.22 $55,456.83
72 $55,456.83 $636.94 $0.00 $313.56 $56,407.33
73 $56,407.33 $636.94 $0.00 $318.94 $57,363.21
74 $57,363.21 $636.94 $0.00 $324.34 $58,324.49
75 $58,324.49 $636.94 $0.00 $329.78 $59,291.21
76 $59,291.21 $636.94 $0.00 $335.24 $60,263.39
77 $60,263.39 $636.94 $0.00 $340.74 $61,241.07
78 $61,241.07 $636.94 $0.00 $346.27 $62,224.28
79 $62,224.28 $636.94 $0.00 $351.83 $63,213.05
80 $63,213.05 $636.94 $0.00 $357.42 $64,207.41
81 $64,207.41 $636.94 $0.00 $363.04 $65,207.39
82 $65,207.39 $636.94 $0.00 $368.69 $66,213.02
83 $66,213.02 $636.94 $0.00 $374.38 $67,224.34
84 $67,224.34 $636.94 $0.00 $380.10 $68,241.38
85 $68,241.38 $636.94 $0.00 $385.85 $69,264.17
86 $69,264.17 $636.94 $0.00 $391.63 $70,292.74
87 $70,292.74 $636.94 $0.00 $397.45 $71,327.13
88 $71,327.13 $636.94 $0.00 $403.29 $72,367.36
89 $72,367.36 $636.94 $0.00 $409.18 $73,413.48
90 $73,413.48 $636.94 $0.00 $415.09 $74,465.51
91 $74,465.51 $636.94 $0.00 $421.04 $75,523.49
92 $75,523.49 $636.94 $0.00 $427.02 $76,587.45
93 $76,587.45 $636.94 $0.00 $433.04 $77,657.43
94 $77,657.43 $636.94 $0.00 $439.09 $78,733.46
95 $78,733.46 $636.94 $0.00 $445.17 $79,815.57
96 $79,815.57 $636.94 $0.00 $451.29 $80,903.80
97 $80,903.80 $636.94 $0.00 $457.44 $81,998.18
98 $81,998.18 $636.94 $0.00 $463.63 $83,098.75
99 $83,098.75 $636.94 $0.00 $469.85 $84,205.54
100 $84,205.54 $636.94 $0.00 $476.11 $85,318.59
101 $85,318.59 $636.94 $0.00 $482.40 $86,437.93
102 $86,437.93 $636.94 $0.00 $488.73 $87,563.60
103 $87,563.60 $636.94 $0.00 $495.10 $88,695.64
104 $88,695.64 $636.94 $0.00 $501.50 $89,834.08
105 $89,834.08 $636.94 $0.00 $507.93 $90,978.95
106 $90,978.95 $636.94 $0.00 $514.41 $92,130.30
107 $92,130.30 $636.94 $0.00 $520.92 $93,288.16
108 $93,288.16 $636.94 $0.00 $527.46 $94,452.56
109 $94,452.56 $636.94 $0.00 $534.05 $95,623.55
110 $95,623.55 $636.94 $0.00 $540.67 $96,801.16
111 $96,801.16 $636.94 $0.00 $547.33 $97,985.43
112 $97,985.43 $636.94 $0.00 $554.02 $99,176.39
113 $99,176.39 $636.94 $0.00 $560.76 $100,374.09
114 $100,374.09 $636.94 $0.00 $567.53 $101,578.56
115 $101,578.56 $636.94 $0.00 $574.34 $102,789.84
116 $102,789.84 $636.94 $0.00 $581.19 $104,007.97
117 $104,007.97 $636.94 $0.00 $588.08 $105,232.99
118 $105,232.99 $636.94 $0.00 $595.00 $106,464.93
119 $106,464.93 $636.94 $0.00 $601.97 $107,703.84
120 $107,703.84 $636.94 $0.00 $608.97 $108,949.75
121 $108,949.75 $636.94 $0.00 $616.02 $110,202.71
122 $110,202.71 $636.94 $0.00 $623.10 $111,462.75
123 $111,462.75 $636.94 $0.00 $630.23 $112,729.92
124 $112,729.92 $636.94 $0.00 $637.39 $114,004.25
125 $114,004.25 $636.94 $0.00 $644.60 $115,285.79
126 $115,285.79 $636.94 $0.00 $651.84 $116,574.57
127 $116,574.57 $636.94 $0.00 $659.13 $117,870.64
128 $117,870.64 $636.94 $0.00 $666.46 $119,174.04
129 $119,174.04 $636.94 $0.00 $673.83 $120,484.81
130 $120,484.81 $636.94 $0.00 $681.24 $121,802.99
131 $121,802.99 $636.94 $0.00 $688.69 $123,128.62
132 $123,128.62 $636.94 $0.00 $696.19 $124,461.75
133 $124,461.75 $636.94 $0.00 $703.72 $125,802.41
134 $125,802.41 $636.94 $0.00 $711.31 $127,150.66
135 $127,150.66 $636.94 $0.00 $718.93 $128,506.53
136 $128,506.53 $636.94 $0.00 $726.59 $129,870.06
137 $129,870.06 $636.94 $0.00 $734.30 $131,241.30
138 $131,241.30 $636.94 $0.00 $742.06 $132,620.30
139 $132,620.30 $636.94 $0.00 $749.85 $134,007.09
140 $134,007.09 $636.94 $0.00 $757.70 $135,401.73
141 $135,401.73 $636.94 $0.00 $765.58 $136,804.25
142 $136,804.25 $636.94 $0.00 $773.51 $138,214.70
143 $138,214.70 $636.94 $0.00 $781.49 $139,633.13
144 $139,633.13 $636.94 $0.00 $789.51 $141,059.58
145 $141,059.58 $636.94 $0.00 $797.57 $142,494.09
146 $142,494.09 $636.94 $0.00 $805.68 $143,936.71
147 $143,936.71 $636.94 $0.00 $813.84 $145,387.49
148 $145,387.49 $636.94 $0.00 $822.04 $146,846.47
149 $146,846.47 $636.94 $0.00 $830.29 $148,313.70
150 $148,313.70 $636.94 $0.00 $838.59 $149,789.23
151 $149,789.23 $636.94 $0.00 $846.93 $151,273.10
152 $151,273.10 $636.94 $0.00 $855.32 $152,765.36
153 $152,765.36 $636.94 $0.00 $863.76 $154,266.06
154 $154,266.06 $636.94 $0.00 $872.24 $155,775.24
155 $155,775.24 $636.94 $0.00 $880.78 $157,292.96
156 $157,292.96 $636.94 $0.00 $889.36 $158,819.26
157 $158,819.26 $636.94 $0.00 $897.99 $160,354.19
158 $160,354.19 $636.94 $0.00 $906.67 $161,897.80
159 $161,897.80 $636.94 $0.00 $915.39 $163,450.13
160 $163,450.13 $636.94 $0.00 $924.17 $165,011.24
161 $165,011.24 $636.94 $0.00 $933.00 $166,581.18
162 $166,581.18 $636.94 $0.00 $941.87 $168,159.99
163 $168,159.99 $636.94 $0.00 $950.80 $169,747.73
164 $169,747.73 $636.94 $0.00 $959.78 $171,344.45
165 $171,344.45 $636.94 $0.00 $968.81 $172,950.20
166 $172,950.20 $636.94 $0.00 $977.89 $174,565.03
167 $174,565.03 $636.94 $0.00 $987.02 $176,188.99
168 $176,188.99 $636.94 $0.00 $996.20 $177,822.13
169 $177,822.13 $636.94 $0.00 $1,005.43 $179,464.50
170 $179,464.50 $636.94 $0.00 $1,014.72 $181,116.16
171 $181,116.16 $636.94 $0.00 $1,024.06 $182,777.16
172 $182,777.16 $636.94 $0.00 $1,033.45 $184,447.55
173 $184,447.55 $636.94 $0.00 $1,042.89 $186,127.38
174 $186,127.38 $636.94 $0.00 $1,052.39 $187,816.71
175 $187,816.71 $636.94 $0.00 $1,061.94 $189,515.59
176 $189,515.59 $636.94 $0.00 $1,071.55 $191,224.08
177 $191,224.08 $636.94 $0.00 $1,081.21 $192,942.23
178 $192,942.23 $636.94 $0.00 $1,090.92 $194,670.09
179 $194,670.09 $636.94 $0.00 $1,100.69 $196,407.72
180 $196,407.72 $636.94 $0.00 $1,110.52 $198,155.18
181 $198,155.18 $636.94 $0.00 $1,120.40 $199,912.52
182 $199,912.52 $636.94 $0.00 $1,130.33 $201,679.79
183 $201,679.79 $636.94 $0.00 $1,140.33 $203,457.06
184 $203,457.06 $636.94 $0.00 $1,150.38 $205,244.38
185 $205,244.38 $636.94 $0.00 $1,160.48 $207,041.80
186 $207,041.80 $636.94 $0.00 $1,170.64 $208,849.38
187 $208,849.38 $636.94 $0.00 $1,180.86 $210,667.18
188 $210,667.18 $636.94 $0.00 $1,191.14 $212,495.26
189 $212,495.26 $636.94 $0.00 $1,201.48 $214,333.68
190 $214,333.68 $636.94 $0.00 $1,211.87 $216,182.49
191 $216,182.49 $636.94 $0.00 $1,222.33 $218,041.76
192 $218,041.76 $636.94 $0.00 $1,232.84 $219,911.54
193 $219,911.54 $636.94 $0.00 $1,243.41 $221,791.89
194 $221,791.89 $636.94 $0.00 $1,254.04 $223,682.87
195 $223,682.87 $636.94 $0.00 $1,264.74 $225,584.55
196 $225,584.55 $636.94 $0.00 $1,275.49 $227,496.98
197 $227,496.98 $636.94 $0.00 $1,286.30 $229,420.22
198 $229,420.22 $636.94 $0.00 $1,297.18 $231,354.34
199 $231,354.34 $636.94 $0.00 $1,308.11 $233,299.39
200 $233,299.39 $636.94 $0.00 $1,319.11 $235,255.44
201 $235,255.44 $636.94 $0.00 $1,330.17 $237,222.55
202 $237,222.55 $636.94 $0.00 $1,341.29 $239,200.78
203 $239,200.78 $636.94 $0.00 $1,352.48 $241,190.20
204 $241,190.20 $636.94 $0.00 $1,363.72 $243,190.86
205 $243,190.86 $636.94 $0.00 $1,375.04 $245,202.84
206 $245,202.84 $636.94 $0.00 $1,386.41 $247,226.19
207 $247,226.19 $636.94 $0.00 $1,397.85 $249,260.98
208 $249,260.98 $636.94 $0.00 $1,409.36 $251,307.28
209 $251,307.28 $636.94 $0.00 $1,420.93 $253,365.15
210 $253,365.15 $636.94 $0.00 $1,432.56 $255,434.65
211 $255,434.65 $636.94 $0.00 $1,444.26 $257,515.85
212 $257,515.85 $636.94 $0.00 $1,456.03 $259,608.82
213 $259,608.82 $636.94 $0.00 $1,467.87 $261,713.63
214 $261,713.63 $636.94 $0.00 $1,479.77 $263,830.34
215 $263,830.34 $636.94 $0.00 $1,491.74 $265,959.02
216 $265,959.02 $636.94 $0.00 $1,503.77 $268,099.73
217 $268,099.73 $636.94 $74,674.99 $1,515.87 $195,577.55
218 $195,577.55 $636.94 $0.00 $1,105.82 $197,320.31
219 $197,320.31 $636.94 $0.00 $1,115.68 $199,072.93
220 $199,072.93 $636.94 $0.00 $1,125.59 $200,835.46
221 $200,835.46 $636.94 $0.00 $1,135.55 $202,607.95
222 $202,607.95 $636.94 $0.00 $1,145.57 $204,390.46
223 $204,390.46 $636.94 $0.00 $1,155.65 $206,183.05
224 $206,183.05 $636.94 $0.00 $1,165.79 $207,985.78
225 $207,985.78 $636.94 $0.00 $1,175.98 $209,798.70
226 $209,798.70 $636.94 $0.00 $1,186.23 $211,621.87
227 $211,621.87 $636.94 $0.00 $1,196.54 $213,455.35
228 $213,455.35 $636.94 $0.00 $1,206.91 $215,299.20
229 $215,299.20 $636.94 $78,408.74 $1,217.33 $138,744.73
230 $138,744.73 $636.94 $0.00 $784.48 $140,166.15
231 $140,166.15 $636.94 $0.00 $792.52 $141,595.61
232 $141,595.61 $636.94 $0.00 $800.60 $143,033.15
233 $143,033.15 $636.94 $0.00 $808.73 $144,478.82
234 $144,478.82 $636.94 $0.00 $816.90 $145,932.66
235 $145,932.66 $636.94 $0.00 $825.12 $147,394.72
236 $147,394.72 $636.94 $0.00 $833.39 $148,865.05
237 $148,865.05 $636.94 $0.00 $841.70 $150,343.69
238 $150,343.69 $636.94 $0.00 $850.07 $151,830.70
239 $151,830.70 $636.94 $0.00 $858.47 $153,326.11
240 $153,326.11 $636.94 $0.00 $866.93 $154,829.98
241 $154,829.98 $636.94 $82,329.17 $875.43 $74,013.18
242 $74,013.18 $636.94 $0.00 $418.48 $75,068.60
243 $75,068.60 $636.94 $0.00 $424.45 $76,129.99
244 $76,129.99 $636.94 $0.00 $430.45 $77,197.38
245 $77,197.38 $636.94 $0.00 $436.49 $78,270.81
246 $78,270.81 $636.94 $0.00 $442.55 $79,350.30
247 $79,350.30 $636.94 $0.00 $448.66 $80,435.90
248 $80,435.90 $636.94 $0.00 $454.80 $81,527.64
249 $81,527.64 $636.94 $0.00 $460.97 $82,625.55
250 $82,625.55 $636.94 $0.00 $467.18 $83,729.67
251 $83,729.67 $636.94 $0.00 $473.42 $84,840.03
252 $84,840.03 $636.94 $0.00 $479.70 $85,956.67
253 $85,956.67 $0.00 $86,445.63 $486.01 ($2.95)