Savings Plan and Future Cost Estimation for Hodges University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$81,709
Monthly savings required$647

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 $326,837.49 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $646.80 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$31,509.00
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 $646.80 $0.00 $0.00 $646.80
2 $646.80 $646.80 $0.00 $3.66 $1,297.26
3 $1,297.26 $646.80 $0.00 $7.33 $1,951.39
4 $1,951.39 $646.80 $0.00 $11.03 $2,609.22
5 $2,609.22 $646.80 $0.00 $14.75 $3,270.77
6 $3,270.77 $646.80 $0.00 $18.49 $3,936.06
7 $3,936.06 $646.80 $0.00 $22.26 $4,605.12
8 $4,605.12 $646.80 $0.00 $26.04 $5,277.96
9 $5,277.96 $646.80 $0.00 $29.84 $5,954.60
10 $5,954.60 $646.80 $0.00 $33.67 $6,635.07
11 $6,635.07 $646.80 $0.00 $37.52 $7,319.39
12 $7,319.39 $646.80 $0.00 $41.38 $8,007.57
13 $8,007.57 $646.80 $0.00 $45.28 $8,699.65
14 $8,699.65 $646.80 $0.00 $49.19 $9,395.64
15 $9,395.64 $646.80 $0.00 $53.12 $10,095.56
16 $10,095.56 $646.80 $0.00 $57.08 $10,799.44
17 $10,799.44 $646.80 $0.00 $61.06 $11,507.30
18 $11,507.30 $646.80 $0.00 $65.06 $12,219.16
19 $12,219.16 $646.80 $0.00 $69.09 $12,935.05
20 $12,935.05 $646.80 $0.00 $73.14 $13,654.99
21 $13,654.99 $646.80 $0.00 $77.21 $14,379.00
22 $14,379.00 $646.80 $0.00 $81.30 $15,107.10
23 $15,107.10 $646.80 $0.00 $85.42 $15,839.32
24 $15,839.32 $646.80 $0.00 $89.56 $16,575.68
25 $16,575.68 $646.80 $0.00 $93.72 $17,316.20
26 $17,316.20 $646.80 $0.00 $97.91 $18,060.91
27 $18,060.91 $646.80 $0.00 $102.12 $18,809.83
28 $18,809.83 $646.80 $0.00 $106.35 $19,562.98
29 $19,562.98 $646.80 $0.00 $110.61 $20,320.39
30 $20,320.39 $646.80 $0.00 $114.89 $21,082.08
31 $21,082.08 $646.80 $0.00 $119.20 $21,848.08
32 $21,848.08 $646.80 $0.00 $123.53 $22,618.41
33 $22,618.41 $646.80 $0.00 $127.89 $23,393.10
34 $23,393.10 $646.80 $0.00 $132.27 $24,172.17
35 $24,172.17 $646.80 $0.00 $136.67 $24,955.64
36 $24,955.64 $646.80 $0.00 $141.10 $25,743.54
37 $25,743.54 $646.80 $0.00 $145.56 $26,535.90
38 $26,535.90 $646.80 $0.00 $150.04 $27,332.74
39 $27,332.74 $646.80 $0.00 $154.54 $28,134.08
40 $28,134.08 $646.80 $0.00 $159.07 $28,939.95
41 $28,939.95 $646.80 $0.00 $163.63 $29,750.38
42 $29,750.38 $646.80 $0.00 $168.21 $30,565.39
43 $30,565.39 $646.80 $0.00 $172.82 $31,385.01
44 $31,385.01 $646.80 $0.00 $177.46 $32,209.27
45 $32,209.27 $646.80 $0.00 $182.12 $33,038.19
46 $33,038.19 $646.80 $0.00 $186.80 $33,871.79
47 $33,871.79 $646.80 $0.00 $191.52 $34,710.11
48 $34,710.11 $646.80 $0.00 $196.26 $35,553.17
49 $35,553.17 $646.80 $0.00 $201.02 $36,400.99
50 $36,400.99 $646.80 $0.00 $205.82 $37,253.61
51 $37,253.61 $646.80 $0.00 $210.64 $38,111.05
52 $38,111.05 $646.80 $0.00 $215.49 $38,973.34
53 $38,973.34 $646.80 $0.00 $220.36 $39,840.50
54 $39,840.50 $646.80 $0.00 $225.26 $40,712.56
55 $40,712.56 $646.80 $0.00 $230.19 $41,589.55
56 $41,589.55 $646.80 $0.00 $235.15 $42,471.50
57 $42,471.50 $646.80 $0.00 $240.14 $43,358.44
58 $43,358.44 $646.80 $0.00 $245.15 $44,250.39
59 $44,250.39 $646.80 $0.00 $250.20 $45,147.39
60 $45,147.39 $646.80 $0.00 $255.27 $46,049.46
61 $46,049.46 $646.80 $0.00 $260.37 $46,956.63
62 $46,956.63 $646.80 $0.00 $265.50 $47,868.93
63 $47,868.93 $646.80 $0.00 $270.66 $48,786.39
64 $48,786.39 $646.80 $0.00 $275.85 $49,709.04
65 $49,709.04 $646.80 $0.00 $281.06 $50,636.90
66 $50,636.90 $646.80 $0.00 $286.31 $51,570.01
67 $51,570.01 $646.80 $0.00 $291.58 $52,508.39
68 $52,508.39 $646.80 $0.00 $296.89 $53,452.08
69 $53,452.08 $646.80 $0.00 $302.23 $54,401.11
70 $54,401.11 $646.80 $0.00 $307.59 $55,355.50
71 $55,355.50 $646.80 $0.00 $312.99 $56,315.29
72 $56,315.29 $646.80 $0.00 $318.41 $57,280.50
73 $57,280.50 $646.80 $0.00 $323.87 $58,251.17
74 $58,251.17 $646.80 $0.00 $329.36 $59,227.33
75 $59,227.33 $646.80 $0.00 $334.88 $60,209.01
76 $60,209.01 $646.80 $0.00 $340.43 $61,196.24
77 $61,196.24 $646.80 $0.00 $346.01 $62,189.05
78 $62,189.05 $646.80 $0.00 $351.63 $63,187.48
79 $63,187.48 $646.80 $0.00 $357.27 $64,191.55
80 $64,191.55 $646.80 $0.00 $362.95 $65,201.30
81 $65,201.30 $646.80 $0.00 $368.66 $66,216.76
82 $66,216.76 $646.80 $0.00 $374.40 $67,237.96
83 $67,237.96 $646.80 $0.00 $380.17 $68,264.93
84 $68,264.93 $646.80 $0.00 $385.98 $69,297.71
85 $69,297.71 $646.80 $0.00 $391.82 $70,336.33
86 $70,336.33 $646.80 $0.00 $397.69 $71,380.82
87 $71,380.82 $646.80 $0.00 $403.60 $72,431.22
88 $72,431.22 $646.80 $0.00 $409.54 $73,487.56
89 $73,487.56 $646.80 $0.00 $415.51 $74,549.87
90 $74,549.87 $646.80 $0.00 $421.52 $75,618.19
91 $75,618.19 $646.80 $0.00 $427.56 $76,692.55
92 $76,692.55 $646.80 $0.00 $433.63 $77,772.98
93 $77,772.98 $646.80 $0.00 $439.74 $78,859.52
94 $78,859.52 $646.80 $0.00 $445.88 $79,952.20
95 $79,952.20 $646.80 $0.00 $452.06 $81,051.06
96 $81,051.06 $646.80 $0.00 $458.27 $82,156.13
97 $82,156.13 $646.80 $0.00 $464.52 $83,267.45
98 $83,267.45 $646.80 $0.00 $470.81 $84,385.06
99 $84,385.06 $646.80 $0.00 $477.13 $85,508.99
100 $85,508.99 $646.80 $0.00 $483.48 $86,639.27
101 $86,639.27 $646.80 $0.00 $489.87 $87,775.94
102 $87,775.94 $646.80 $0.00 $496.30 $88,919.04
103 $88,919.04 $646.80 $0.00 $502.76 $90,068.60
104 $90,068.60 $646.80 $0.00 $509.26 $91,224.66
105 $91,224.66 $646.80 $0.00 $515.80 $92,387.26
106 $92,387.26 $646.80 $0.00 $522.37 $93,556.43
107 $93,556.43 $646.80 $0.00 $528.98 $94,732.21
108 $94,732.21 $646.80 $0.00 $535.63 $95,914.64
109 $95,914.64 $646.80 $0.00 $542.32 $97,103.76
110 $97,103.76 $646.80 $0.00 $549.04 $98,299.60
111 $98,299.60 $646.80 $0.00 $555.80 $99,502.20
112 $99,502.20 $646.80 $0.00 $562.60 $100,711.60
113 $100,711.60 $646.80 $0.00 $569.44 $101,927.84
114 $101,927.84 $646.80 $0.00 $576.31 $103,150.95
115 $103,150.95 $646.80 $0.00 $583.23 $104,380.98
116 $104,380.98 $646.80 $0.00 $590.19 $105,617.97
117 $105,617.97 $646.80 $0.00 $597.18 $106,861.95
118 $106,861.95 $646.80 $0.00 $604.21 $108,112.96
119 $108,112.96 $646.80 $0.00 $611.29 $109,371.05
120 $109,371.05 $646.80 $0.00 $618.40 $110,636.25
121 $110,636.25 $646.80 $0.00 $625.55 $111,908.60
122 $111,908.60 $646.80 $0.00 $632.75 $113,188.15
123 $113,188.15 $646.80 $0.00 $639.98 $114,474.93
124 $114,474.93 $646.80 $0.00 $647.26 $115,768.99
125 $115,768.99 $646.80 $0.00 $654.57 $117,070.36
126 $117,070.36 $646.80 $0.00 $661.93 $118,379.09
127 $118,379.09 $646.80 $0.00 $669.33 $119,695.22
128 $119,695.22 $646.80 $0.00 $676.77 $121,018.79
129 $121,018.79 $646.80 $0.00 $684.26 $122,349.85
130 $122,349.85 $646.80 $0.00 $691.78 $123,688.43
131 $123,688.43 $646.80 $0.00 $699.35 $125,034.58
132 $125,034.58 $646.80 $0.00 $706.96 $126,388.34
133 $126,388.34 $646.80 $0.00 $714.62 $127,749.76
134 $127,749.76 $646.80 $0.00 $722.32 $129,118.88
135 $129,118.88 $646.80 $0.00 $730.06 $130,495.74
136 $130,495.74 $646.80 $0.00 $737.84 $131,880.38
137 $131,880.38 $646.80 $0.00 $745.67 $133,272.85
138 $133,272.85 $646.80 $0.00 $753.54 $134,673.19
139 $134,673.19 $646.80 $0.00 $761.46 $136,081.45
140 $136,081.45 $646.80 $0.00 $769.42 $137,497.67
141 $137,497.67 $646.80 $0.00 $777.43 $138,921.90
142 $138,921.90 $646.80 $0.00 $785.48 $140,354.18
143 $140,354.18 $646.80 $0.00 $793.58 $141,794.56
144 $141,794.56 $646.80 $0.00 $801.73 $143,243.09
145 $143,243.09 $646.80 $0.00 $809.92 $144,699.81
146 $144,699.81 $646.80 $0.00 $818.15 $146,164.76
147 $146,164.76 $646.80 $0.00 $826.44 $147,638.00
148 $147,638.00 $646.80 $0.00 $834.77 $149,119.57
149 $149,119.57 $646.80 $0.00 $843.14 $150,609.51
150 $150,609.51 $646.80 $0.00 $851.57 $152,107.88
151 $152,107.88 $646.80 $0.00 $860.04 $153,614.72
152 $153,614.72 $646.80 $0.00 $868.56 $155,130.08
153 $155,130.08 $646.80 $0.00 $877.13 $156,654.01
154 $156,654.01 $646.80 $0.00 $885.74 $158,186.55
155 $158,186.55 $646.80 $0.00 $894.41 $159,727.76
156 $159,727.76 $646.80 $0.00 $903.12 $161,277.68
157 $161,277.68 $646.80 $0.00 $911.89 $162,836.37
158 $162,836.37 $646.80 $0.00 $920.70 $164,403.87
159 $164,403.87 $646.80 $0.00 $929.56 $165,980.23
160 $165,980.23 $646.80 $0.00 $938.48 $167,565.51
161 $167,565.51 $646.80 $0.00 $947.44 $169,159.75
162 $169,159.75 $646.80 $0.00 $956.45 $170,763.00
163 $170,763.00 $646.80 $0.00 $965.52 $172,375.32
164 $172,375.32 $646.80 $0.00 $974.64 $173,996.76
165 $173,996.76 $646.80 $0.00 $983.80 $175,627.36
166 $175,627.36 $646.80 $0.00 $993.02 $177,267.18
167 $177,267.18 $646.80 $0.00 $1,002.29 $178,916.27
168 $178,916.27 $646.80 $0.00 $1,011.62 $180,574.69
169 $180,574.69 $646.80 $0.00 $1,021.00 $182,242.49
170 $182,242.49 $646.80 $0.00 $1,030.43 $183,919.72
171 $183,919.72 $646.80 $0.00 $1,039.91 $185,606.43
172 $185,606.43 $646.80 $0.00 $1,049.45 $187,302.68
173 $187,302.68 $646.80 $0.00 $1,059.04 $189,008.52
174 $189,008.52 $646.80 $0.00 $1,068.68 $190,724.00
175 $190,724.00 $646.80 $0.00 $1,078.38 $192,449.18
176 $192,449.18 $646.80 $0.00 $1,088.14 $194,184.12
177 $194,184.12 $646.80 $0.00 $1,097.95 $195,928.87
178 $195,928.87 $646.80 $0.00 $1,107.81 $197,683.48
179 $197,683.48 $646.80 $0.00 $1,117.73 $199,448.01
180 $199,448.01 $646.80 $0.00 $1,127.71 $201,222.52
181 $201,222.52 $646.80 $0.00 $1,137.74 $203,007.06
182 $203,007.06 $646.80 $0.00 $1,147.83 $204,801.69
183 $204,801.69 $646.80 $0.00 $1,157.98 $206,606.47
184 $206,606.47 $646.80 $0.00 $1,168.18 $208,421.45
185 $208,421.45 $646.80 $0.00 $1,178.45 $210,246.70
186 $210,246.70 $646.80 $0.00 $1,188.77 $212,082.27
187 $212,082.27 $646.80 $0.00 $1,199.14 $213,928.21
188 $213,928.21 $646.80 $0.00 $1,209.58 $215,784.59
189 $215,784.59 $646.80 $0.00 $1,220.08 $217,651.47
190 $217,651.47 $646.80 $0.00 $1,230.63 $219,528.90
191 $219,528.90 $646.80 $0.00 $1,241.25 $221,416.95
192 $221,416.95 $646.80 $0.00 $1,251.92 $223,315.67
193 $223,315.67 $646.80 $0.00 $1,262.66 $225,225.13
194 $225,225.13 $646.80 $0.00 $1,273.46 $227,145.39
195 $227,145.39 $646.80 $0.00 $1,284.31 $229,076.50
196 $229,076.50 $646.80 $0.00 $1,295.23 $231,018.53
197 $231,018.53 $646.80 $0.00 $1,306.21 $232,971.54
198 $232,971.54 $646.80 $0.00 $1,317.25 $234,935.59
199 $234,935.59 $646.80 $0.00 $1,328.36 $236,910.75
200 $236,910.75 $646.80 $0.00 $1,339.53 $238,897.08
201 $238,897.08 $646.80 $0.00 $1,350.76 $240,894.64
202 $240,894.64 $646.80 $0.00 $1,362.05 $242,903.49
203 $242,903.49 $646.80 $0.00 $1,373.41 $244,923.70
204 $244,923.70 $646.80 $0.00 $1,384.83 $246,955.33
205 $246,955.33 $646.80 $0.00 $1,396.32 $248,998.45
206 $248,998.45 $646.80 $0.00 $1,407.87 $251,053.12
207 $251,053.12 $646.80 $0.00 $1,419.49 $253,119.41
208 $253,119.41 $646.80 $0.00 $1,431.17 $255,197.38
209 $255,197.38 $646.80 $0.00 $1,442.92 $257,287.10
210 $257,287.10 $646.80 $0.00 $1,454.74 $259,388.64
211 $259,388.64 $646.80 $0.00 $1,466.62 $261,502.06
212 $261,502.06 $646.80 $0.00 $1,478.57 $263,627.43
213 $263,627.43 $646.80 $0.00 $1,490.59 $265,764.82
214 $265,764.82 $646.80 $0.00 $1,502.67 $267,914.29
215 $267,914.29 $646.80 $0.00 $1,514.83 $270,075.92
216 $270,075.92 $646.80 $0.00 $1,527.05 $272,249.77
217 $272,249.77 $646.80 $75,830.17 $1,539.34 $198,605.74
218 $198,605.74 $646.80 $0.00 $1,122.95 $200,375.49
219 $200,375.49 $646.80 $0.00 $1,132.95 $202,155.24
220 $202,155.24 $646.80 $0.00 $1,143.02 $203,945.06
221 $203,945.06 $646.80 $0.00 $1,153.14 $205,745.00
222 $205,745.00 $646.80 $0.00 $1,163.31 $207,555.11
223 $207,555.11 $646.80 $0.00 $1,173.55 $209,375.46
224 $209,375.46 $646.80 $0.00 $1,183.84 $211,206.10
225 $211,206.10 $646.80 $0.00 $1,194.19 $213,047.09
226 $213,047.09 $646.80 $0.00 $1,204.60 $214,898.49
227 $214,898.49 $646.80 $0.00 $1,215.07 $216,760.36
228 $216,760.36 $646.80 $0.00 $1,225.59 $218,632.75
229 $218,632.75 $646.80 $79,621.67 $1,236.18 $140,894.06
230 $140,894.06 $646.80 $0.00 $796.64 $142,337.50
231 $142,337.50 $646.80 $0.00 $804.80 $143,789.10
232 $143,789.10 $646.80 $0.00 $813.00 $145,248.90
233 $145,248.90 $646.80 $0.00 $821.26 $146,716.96
234 $146,716.96 $646.80 $0.00 $829.56 $148,193.32
235 $148,193.32 $646.80 $0.00 $837.91 $149,678.03
236 $149,678.03 $646.80 $0.00 $846.30 $151,171.13
237 $151,171.13 $646.80 $0.00 $854.74 $152,672.67
238 $152,672.67 $646.80 $0.00 $863.23 $154,182.70
239 $154,182.70 $646.80 $0.00 $871.77 $155,701.27
240 $155,701.27 $646.80 $0.00 $880.36 $157,228.43
241 $157,228.43 $646.80 $83,602.76 $888.99 $75,161.46
242 $75,161.46 $646.80 $0.00 $424.97 $76,233.23
243 $76,233.23 $646.80 $0.00 $431.03 $77,311.06
244 $77,311.06 $646.80 $0.00 $437.13 $78,394.99
245 $78,394.99 $646.80 $0.00 $443.26 $79,485.05
246 $79,485.05 $646.80 $0.00 $449.42 $80,581.27
247 $80,581.27 $646.80 $0.00 $455.62 $81,683.69
248 $81,683.69 $646.80 $0.00 $461.85 $82,792.34
249 $82,792.34 $646.80 $0.00 $468.12 $83,907.26
250 $83,907.26 $646.80 $0.00 $474.42 $85,028.48
251 $85,028.48 $646.80 $0.00 $480.76 $86,156.04
252 $86,156.04 $646.80 $0.00 $487.14 $87,289.98
253 $87,289.98 $0.00 $87,782.90 $493.55 $0.63