Savings Plan and Future Cost Estimation for Luther Rice University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$67,154
Monthly savings required$532

How much will it cost to send your child to Luther Rice University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $268,614.80 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $531.58 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$25,896.00
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 $531.58 $0.00 $0.00 $531.58
2 $531.58 $531.58 $0.00 $3.01 $1,066.17
3 $1,066.17 $531.58 $0.00 $6.03 $1,603.78
4 $1,603.78 $531.58 $0.00 $9.07 $2,144.43
5 $2,144.43 $531.58 $0.00 $12.12 $2,688.13
6 $2,688.13 $531.58 $0.00 $15.20 $3,234.91
7 $3,234.91 $531.58 $0.00 $18.29 $3,784.78
8 $3,784.78 $531.58 $0.00 $21.40 $4,337.76
9 $4,337.76 $531.58 $0.00 $24.53 $4,893.87
10 $4,893.87 $531.58 $0.00 $27.67 $5,453.12
11 $5,453.12 $531.58 $0.00 $30.83 $6,015.53
12 $6,015.53 $531.58 $0.00 $34.01 $6,581.12
13 $6,581.12 $531.58 $0.00 $37.21 $7,149.91
14 $7,149.91 $531.58 $0.00 $40.43 $7,721.92
15 $7,721.92 $531.58 $0.00 $43.66 $8,297.16
16 $8,297.16 $531.58 $0.00 $46.91 $8,875.65
17 $8,875.65 $531.58 $0.00 $50.18 $9,457.41
18 $9,457.41 $531.58 $0.00 $53.47 $10,042.46
19 $10,042.46 $531.58 $0.00 $56.78 $10,630.82
20 $10,630.82 $531.58 $0.00 $60.11 $11,222.51
21 $11,222.51 $531.58 $0.00 $63.45 $11,817.54
22 $11,817.54 $531.58 $0.00 $66.82 $12,415.94
23 $12,415.94 $531.58 $0.00 $70.20 $13,017.72
24 $13,017.72 $531.58 $0.00 $73.60 $13,622.90
25 $13,622.90 $531.58 $0.00 $77.03 $14,231.51
26 $14,231.51 $531.58 $0.00 $80.47 $14,843.56
27 $14,843.56 $531.58 $0.00 $83.93 $15,459.07
28 $15,459.07 $531.58 $0.00 $87.41 $16,078.06
29 $16,078.06 $531.58 $0.00 $90.91 $16,700.55
30 $16,700.55 $531.58 $0.00 $94.43 $17,326.56
31 $17,326.56 $531.58 $0.00 $97.97 $17,956.11
32 $17,956.11 $531.58 $0.00 $101.53 $18,589.22
33 $18,589.22 $531.58 $0.00 $105.11 $19,225.91
34 $19,225.91 $531.58 $0.00 $108.71 $19,866.20
35 $19,866.20 $531.58 $0.00 $112.33 $20,510.11
36 $20,510.11 $531.58 $0.00 $115.97 $21,157.66
37 $21,157.66 $531.58 $0.00 $119.63 $21,808.87
38 $21,808.87 $531.58 $0.00 $123.31 $22,463.76
39 $22,463.76 $531.58 $0.00 $127.01 $23,122.35
40 $23,122.35 $531.58 $0.00 $130.74 $23,784.67
41 $23,784.67 $531.58 $0.00 $134.48 $24,450.73
42 $24,450.73 $531.58 $0.00 $138.25 $25,120.56
43 $25,120.56 $531.58 $0.00 $142.04 $25,794.18
44 $25,794.18 $531.58 $0.00 $145.84 $26,471.60
45 $26,471.60 $531.58 $0.00 $149.67 $27,152.85
46 $27,152.85 $531.58 $0.00 $153.53 $27,837.96
47 $27,837.96 $531.58 $0.00 $157.40 $28,526.94
48 $28,526.94 $531.58 $0.00 $161.30 $29,219.82
49 $29,219.82 $531.58 $0.00 $165.21 $29,916.61
50 $29,916.61 $531.58 $0.00 $169.15 $30,617.34
51 $30,617.34 $531.58 $0.00 $173.11 $31,322.03
52 $31,322.03 $531.58 $0.00 $177.10 $32,030.71
53 $32,030.71 $531.58 $0.00 $181.11 $32,743.40
54 $32,743.40 $531.58 $0.00 $185.14 $33,460.12
55 $33,460.12 $531.58 $0.00 $189.19 $34,180.89
56 $34,180.89 $531.58 $0.00 $193.26 $34,905.73
57 $34,905.73 $531.58 $0.00 $197.36 $35,634.67
58 $35,634.67 $531.58 $0.00 $201.48 $36,367.73
59 $36,367.73 $531.58 $0.00 $205.63 $37,104.94
60 $37,104.94 $531.58 $0.00 $209.80 $37,846.32
61 $37,846.32 $531.58 $0.00 $213.99 $38,591.89
62 $38,591.89 $531.58 $0.00 $218.20 $39,341.67
63 $39,341.67 $531.58 $0.00 $222.44 $40,095.69
64 $40,095.69 $531.58 $0.00 $226.71 $40,853.98
65 $40,853.98 $531.58 $0.00 $230.99 $41,616.55
66 $41,616.55 $531.58 $0.00 $235.31 $42,383.44
67 $42,383.44 $531.58 $0.00 $239.64 $43,154.66
68 $43,154.66 $531.58 $0.00 $244.00 $43,930.24
69 $43,930.24 $531.58 $0.00 $248.39 $44,710.21
70 $44,710.21 $531.58 $0.00 $252.80 $45,494.59
71 $45,494.59 $531.58 $0.00 $257.23 $46,283.40
72 $46,283.40 $531.58 $0.00 $261.69 $47,076.67
73 $47,076.67 $531.58 $0.00 $266.18 $47,874.43
74 $47,874.43 $531.58 $0.00 $270.69 $48,676.70
75 $48,676.70 $531.58 $0.00 $275.23 $49,483.51
76 $49,483.51 $531.58 $0.00 $279.79 $50,294.88
77 $50,294.88 $531.58 $0.00 $284.37 $51,110.83
78 $51,110.83 $531.58 $0.00 $288.99 $51,931.40
79 $51,931.40 $531.58 $0.00 $293.63 $52,756.61
80 $52,756.61 $531.58 $0.00 $298.29 $53,586.48
81 $53,586.48 $531.58 $0.00 $302.99 $54,421.05
82 $54,421.05 $531.58 $0.00 $307.70 $55,260.33
83 $55,260.33 $531.58 $0.00 $312.45 $56,104.36
84 $56,104.36 $531.58 $0.00 $317.22 $56,953.16
85 $56,953.16 $531.58 $0.00 $322.02 $57,806.76
86 $57,806.76 $531.58 $0.00 $326.85 $58,665.19
87 $58,665.19 $531.58 $0.00 $331.70 $59,528.47
88 $59,528.47 $531.58 $0.00 $336.58 $60,396.63
89 $60,396.63 $531.58 $0.00 $341.49 $61,269.70
90 $61,269.70 $531.58 $0.00 $346.43 $62,147.71
91 $62,147.71 $531.58 $0.00 $351.39 $63,030.68
92 $63,030.68 $531.58 $0.00 $356.38 $63,918.64
93 $63,918.64 $531.58 $0.00 $361.41 $64,811.63
94 $64,811.63 $531.58 $0.00 $366.45 $65,709.66
95 $65,709.66 $531.58 $0.00 $371.53 $66,612.77
96 $66,612.77 $531.58 $0.00 $376.64 $67,520.99
97 $67,520.99 $531.58 $0.00 $381.77 $68,434.34
98 $68,434.34 $531.58 $0.00 $386.94 $69,352.86
99 $69,352.86 $531.58 $0.00 $392.13 $70,276.57
100 $70,276.57 $531.58 $0.00 $397.35 $71,205.50
101 $71,205.50 $531.58 $0.00 $402.61 $72,139.69
102 $72,139.69 $531.58 $0.00 $407.89 $73,079.16
103 $73,079.16 $531.58 $0.00 $413.20 $74,023.94
104 $74,023.94 $531.58 $0.00 $418.54 $74,974.06
105 $74,974.06 $531.58 $0.00 $423.91 $75,929.55
106 $75,929.55 $531.58 $0.00 $429.32 $76,890.45
107 $76,890.45 $531.58 $0.00 $434.75 $77,856.78
108 $77,856.78 $531.58 $0.00 $440.21 $78,828.57
109 $78,828.57 $531.58 $0.00 $445.71 $79,805.86
110 $79,805.86 $531.58 $0.00 $451.23 $80,788.67
111 $80,788.67 $531.58 $0.00 $456.79 $81,777.04
112 $81,777.04 $531.58 $0.00 $462.38 $82,771.00
113 $82,771.00 $531.58 $0.00 $468.00 $83,770.58
114 $83,770.58 $531.58 $0.00 $473.65 $84,775.81
115 $84,775.81 $531.58 $0.00 $479.33 $85,786.72
116 $85,786.72 $531.58 $0.00 $485.05 $86,803.35
117 $86,803.35 $531.58 $0.00 $490.80 $87,825.73
118 $87,825.73 $531.58 $0.00 $496.58 $88,853.89
119 $88,853.89 $531.58 $0.00 $502.39 $89,887.86
120 $89,887.86 $531.58 $0.00 $508.24 $90,927.68
121 $90,927.68 $531.58 $0.00 $514.12 $91,973.38
122 $91,973.38 $531.58 $0.00 $520.03 $93,024.99
123 $93,024.99 $531.58 $0.00 $525.98 $94,082.55
124 $94,082.55 $531.58 $0.00 $531.96 $95,146.09
125 $95,146.09 $531.58 $0.00 $537.97 $96,215.64
126 $96,215.64 $531.58 $0.00 $544.02 $97,291.24
127 $97,291.24 $531.58 $0.00 $550.10 $98,372.92
128 $98,372.92 $531.58 $0.00 $556.21 $99,460.71
129 $99,460.71 $531.58 $0.00 $562.37 $100,554.66
130 $100,554.66 $531.58 $0.00 $568.55 $101,654.79
131 $101,654.79 $531.58 $0.00 $574.77 $102,761.14
132 $102,761.14 $531.58 $0.00 $581.03 $103,873.75
133 $103,873.75 $531.58 $0.00 $587.32 $104,992.65
134 $104,992.65 $531.58 $0.00 $593.64 $106,117.87
135 $106,117.87 $531.58 $0.00 $600.01 $107,249.46
136 $107,249.46 $531.58 $0.00 $606.40 $108,387.44
137 $108,387.44 $531.58 $0.00 $612.84 $109,531.86
138 $109,531.86 $531.58 $0.00 $619.31 $110,682.75
139 $110,682.75 $531.58 $0.00 $625.82 $111,840.15
140 $111,840.15 $531.58 $0.00 $632.36 $113,004.09
141 $113,004.09 $531.58 $0.00 $638.94 $114,174.61
142 $114,174.61 $531.58 $0.00 $645.56 $115,351.75
143 $115,351.75 $531.58 $0.00 $652.22 $116,535.55
144 $116,535.55 $531.58 $0.00 $658.91 $117,726.04
145 $117,726.04 $531.58 $0.00 $665.64 $118,923.26
146 $118,923.26 $531.58 $0.00 $672.41 $120,127.25
147 $120,127.25 $531.58 $0.00 $679.22 $121,338.05
148 $121,338.05 $531.58 $0.00 $686.06 $122,555.69
149 $122,555.69 $531.58 $0.00 $692.95 $123,780.22
150 $123,780.22 $531.58 $0.00 $699.87 $125,011.67
151 $125,011.67 $531.58 $0.00 $706.83 $126,250.08
152 $126,250.08 $531.58 $0.00 $713.84 $127,495.50
153 $127,495.50 $531.58 $0.00 $720.88 $128,747.96
154 $128,747.96 $531.58 $0.00 $727.96 $130,007.50
155 $130,007.50 $531.58 $0.00 $735.08 $131,274.16
156 $131,274.16 $531.58 $0.00 $742.24 $132,547.98
157 $132,547.98 $531.58 $0.00 $749.45 $133,829.01
158 $133,829.01 $531.58 $0.00 $756.69 $135,117.28
159 $135,117.28 $531.58 $0.00 $763.97 $136,412.83
160 $136,412.83 $531.58 $0.00 $771.30 $137,715.71
161 $137,715.71 $531.58 $0.00 $778.66 $139,025.95
162 $139,025.95 $531.58 $0.00 $786.07 $140,343.60
163 $140,343.60 $531.58 $0.00 $793.52 $141,668.70
164 $141,668.70 $531.58 $0.00 $801.02 $143,001.30
165 $143,001.30 $531.58 $0.00 $808.55 $144,341.43
166 $144,341.43 $531.58 $0.00 $816.13 $145,689.14
167 $145,689.14 $531.58 $0.00 $823.75 $147,044.47
168 $147,044.47 $531.58 $0.00 $831.41 $148,407.46
169 $148,407.46 $531.58 $0.00 $839.12 $149,778.16
170 $149,778.16 $531.58 $0.00 $846.87 $151,156.61
171 $151,156.61 $531.58 $0.00 $854.66 $152,542.85
172 $152,542.85 $531.58 $0.00 $862.50 $153,936.93
173 $153,936.93 $531.58 $0.00 $870.38 $155,338.89
174 $155,338.89 $531.58 $0.00 $878.31 $156,748.78
175 $156,748.78 $531.58 $0.00 $886.28 $158,166.64
176 $158,166.64 $531.58 $0.00 $894.30 $159,592.52
177 $159,592.52 $531.58 $0.00 $902.36 $161,026.46
178 $161,026.46 $531.58 $0.00 $910.47 $162,468.51
179 $162,468.51 $531.58 $0.00 $918.62 $163,918.71
180 $163,918.71 $531.58 $0.00 $926.82 $165,377.11
181 $165,377.11 $531.58 $0.00 $935.07 $166,843.76
182 $166,843.76 $531.58 $0.00 $943.36 $168,318.70
183 $168,318.70 $531.58 $0.00 $951.70 $169,801.98
184 $169,801.98 $531.58 $0.00 $960.09 $171,293.65
185 $171,293.65 $531.58 $0.00 $968.52 $172,793.75
186 $172,793.75 $531.58 $0.00 $977.00 $174,302.33
187 $174,302.33 $531.58 $0.00 $985.53 $175,819.44
188 $175,819.44 $531.58 $0.00 $994.11 $177,345.13
189 $177,345.13 $531.58 $0.00 $1,002.74 $178,879.45
190 $178,879.45 $531.58 $0.00 $1,011.41 $180,422.44
191 $180,422.44 $531.58 $0.00 $1,020.13 $181,974.15
192 $181,974.15 $531.58 $0.00 $1,028.91 $183,534.64
193 $183,534.64 $531.58 $0.00 $1,037.73 $185,103.95
194 $185,103.95 $531.58 $0.00 $1,046.60 $186,682.13
195 $186,682.13 $531.58 $0.00 $1,055.53 $188,269.24
196 $188,269.24 $531.58 $0.00 $1,064.50 $189,865.32
197 $189,865.32 $531.58 $0.00 $1,073.53 $191,470.43
198 $191,470.43 $531.58 $0.00 $1,082.60 $193,084.61
199 $193,084.61 $531.58 $0.00 $1,091.73 $194,707.92
200 $194,707.92 $531.58 $0.00 $1,100.91 $196,340.41
201 $196,340.41 $531.58 $0.00 $1,110.14 $197,982.13
202 $197,982.13 $531.58 $0.00 $1,119.42 $199,633.13
203 $199,633.13 $531.58 $0.00 $1,128.75 $201,293.46
204 $201,293.46 $531.58 $0.00 $1,138.14 $202,963.18
205 $202,963.18 $531.58 $0.00 $1,147.58 $204,642.34
206 $204,642.34 $531.58 $0.00 $1,157.08 $206,331.00
207 $206,331.00 $531.58 $0.00 $1,166.63 $208,029.21
208 $208,029.21 $531.58 $0.00 $1,176.23 $209,737.02
209 $209,737.02 $531.58 $0.00 $1,185.88 $211,454.48
210 $211,454.48 $531.58 $0.00 $1,195.59 $213,181.65
211 $213,181.65 $531.58 $0.00 $1,205.36 $214,918.59
212 $214,918.59 $531.58 $0.00 $1,215.18 $216,665.35
213 $216,665.35 $531.58 $0.00 $1,225.06 $218,421.99
214 $218,421.99 $531.58 $0.00 $1,234.99 $220,188.56
215 $220,188.56 $531.58 $0.00 $1,244.98 $221,965.12
216 $221,965.12 $531.58 $0.00 $1,255.02 $223,751.72
217 $223,751.72 $531.58 $62,321.81 $1,265.12 $163,226.61
218 $163,226.61 $531.58 $0.00 $922.91 $164,681.10
219 $164,681.10 $531.58 $0.00 $931.13 $166,143.81
220 $166,143.81 $531.58 $0.00 $939.40 $167,614.79
221 $167,614.79 $531.58 $0.00 $947.72 $169,094.09
222 $169,094.09 $531.58 $0.00 $956.08 $170,581.75
223 $170,581.75 $531.58 $0.00 $964.49 $172,077.82
224 $172,077.82 $531.58 $0.00 $972.95 $173,582.35
225 $173,582.35 $531.58 $0.00 $981.46 $175,095.39
226 $175,095.39 $531.58 $0.00 $990.01 $176,616.98
227 $176,616.98 $531.58 $0.00 $998.62 $178,147.18
228 $178,147.18 $531.58 $0.00 $1,007.27 $179,686.03
229 $179,686.03 $531.58 $65,437.90 $1,015.97 $115,795.68
230 $115,795.68 $531.58 $0.00 $654.73 $116,981.99
231 $116,981.99 $531.58 $0.00 $661.43 $118,175.00
232 $118,175.00 $531.58 $0.00 $668.18 $119,374.76
233 $119,374.76 $531.58 $0.00 $674.96 $120,581.30
234 $120,581.30 $531.58 $0.00 $681.78 $121,794.66
235 $121,794.66 $531.58 $0.00 $688.64 $123,014.88
236 $123,014.88 $531.58 $0.00 $695.54 $124,242.00
237 $124,242.00 $531.58 $0.00 $702.48 $125,476.06
238 $125,476.06 $531.58 $0.00 $709.46 $126,717.10
239 $126,717.10 $531.58 $0.00 $716.48 $127,965.16
240 $127,965.16 $531.58 $0.00 $723.53 $129,220.27
241 $129,220.27 $531.58 $68,709.80 $730.63 $61,772.68
242 $61,772.68 $531.58 $0.00 $349.27 $62,653.53
243 $62,653.53 $531.58 $0.00 $354.25 $63,539.36
244 $63,539.36 $531.58 $0.00 $359.26 $64,430.20
245 $64,430.20 $531.58 $0.00 $364.30 $65,326.08
246 $65,326.08 $531.58 $0.00 $369.36 $66,227.02
247 $66,227.02 $531.58 $0.00 $374.46 $67,133.06
248 $67,133.06 $531.58 $0.00 $379.58 $68,044.22
249 $68,044.22 $531.58 $0.00 $384.73 $68,960.53
250 $68,960.53 $531.58 $0.00 $389.91 $69,882.02
251 $69,882.02 $531.58 $0.00 $395.12 $70,808.72
252 $70,808.72 $531.58 $0.00 $400.36 $71,740.66
253 $71,740.66 $0.00 $72,145.29 $405.63 $1.00