How much will it cost and what do you need to save?
Estimated Annual Cost in 2041 | $70,369 |
Monthly savings required | $557 |
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 $281,477.11 for students enrolling in 2041 if tuition increases average 5% per year until then. Assuming you have no current college savings, monthly deposits of $557.03 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.
Current Annual Cost | $27,136.00 |
Years until enrollment | 18 |
Annual Tuition Increase | 5% |
Current Savings | $0.00 |
After Tax Return on Savings | 7% |
Years of enrollment | 4 |
Discover how much will you need to start saving now to afford Luther Rice University in the future.
Month | Begin | Deposit | Withdraw | Interest | End |
---|---|---|---|---|---|
1 | $0.00 | $557.03 | $0.00 | $0.00 | $557.03 |
2 | $557.03 | $557.03 | $0.00 | $3.15 | $1,117.21 |
3 | $1,117.21 | $557.03 | $0.00 | $6.32 | $1,680.56 |
4 | $1,680.56 | $557.03 | $0.00 | $9.50 | $2,247.09 |
5 | $2,247.09 | $557.03 | $0.00 | $12.71 | $2,816.83 |
6 | $2,816.83 | $557.03 | $0.00 | $15.93 | $3,389.79 |
7 | $3,389.79 | $557.03 | $0.00 | $19.17 | $3,965.99 |
8 | $3,965.99 | $557.03 | $0.00 | $22.42 | $4,545.44 |
9 | $4,545.44 | $557.03 | $0.00 | $25.70 | $5,128.17 |
10 | $5,128.17 | $557.03 | $0.00 | $29.00 | $5,714.20 |
11 | $5,714.20 | $557.03 | $0.00 | $32.31 | $6,303.54 |
12 | $6,303.54 | $557.03 | $0.00 | $35.64 | $6,896.21 |
13 | $6,896.21 | $557.03 | $0.00 | $38.99 | $7,492.23 |
14 | $7,492.23 | $557.03 | $0.00 | $42.36 | $8,091.62 |
15 | $8,091.62 | $557.03 | $0.00 | $45.75 | $8,694.40 |
16 | $8,694.40 | $557.03 | $0.00 | $49.16 | $9,300.59 |
17 | $9,300.59 | $557.03 | $0.00 | $52.59 | $9,910.21 |
18 | $9,910.21 | $557.03 | $0.00 | $56.03 | $10,523.27 |
19 | $10,523.27 | $557.03 | $0.00 | $59.50 | $11,139.80 |
20 | $11,139.80 | $557.03 | $0.00 | $62.99 | $11,759.82 |
21 | $11,759.82 | $557.03 | $0.00 | $66.49 | $12,383.34 |
22 | $12,383.34 | $557.03 | $0.00 | $70.02 | $13,010.39 |
23 | $13,010.39 | $557.03 | $0.00 | $73.56 | $13,640.98 |
24 | $13,640.98 | $557.03 | $0.00 | $77.13 | $14,275.14 |
25 | $14,275.14 | $557.03 | $0.00 | $80.71 | $14,912.88 |
26 | $14,912.88 | $557.03 | $0.00 | $84.32 | $15,554.23 |
27 | $15,554.23 | $557.03 | $0.00 | $87.95 | $16,199.21 |
28 | $16,199.21 | $557.03 | $0.00 | $91.59 | $16,847.83 |
29 | $16,847.83 | $557.03 | $0.00 | $95.26 | $17,500.12 |
30 | $17,500.12 | $557.03 | $0.00 | $98.95 | $18,156.10 |
31 | $18,156.10 | $557.03 | $0.00 | $102.66 | $18,815.79 |
32 | $18,815.79 | $557.03 | $0.00 | $106.39 | $19,479.21 |
33 | $19,479.21 | $557.03 | $0.00 | $110.14 | $20,146.38 |
34 | $20,146.38 | $557.03 | $0.00 | $113.91 | $20,817.32 |
35 | $20,817.32 | $557.03 | $0.00 | $117.70 | $21,492.05 |
36 | $21,492.05 | $557.03 | $0.00 | $121.52 | $22,170.60 |
37 | $22,170.60 | $557.03 | $0.00 | $125.36 | $22,852.99 |
38 | $22,852.99 | $557.03 | $0.00 | $129.21 | $23,539.23 |
39 | $23,539.23 | $557.03 | $0.00 | $133.09 | $24,229.35 |
40 | $24,229.35 | $557.03 | $0.00 | $137.00 | $24,923.38 |
41 | $24,923.38 | $557.03 | $0.00 | $140.92 | $25,621.33 |
42 | $25,621.33 | $557.03 | $0.00 | $144.87 | $26,323.23 |
43 | $26,323.23 | $557.03 | $0.00 | $148.84 | $27,029.10 |
44 | $27,029.10 | $557.03 | $0.00 | $152.83 | $27,738.96 |
45 | $27,738.96 | $557.03 | $0.00 | $156.84 | $28,452.83 |
46 | $28,452.83 | $557.03 | $0.00 | $160.88 | $29,170.74 |
47 | $29,170.74 | $557.03 | $0.00 | $164.94 | $29,892.71 |
48 | $29,892.71 | $557.03 | $0.00 | $169.02 | $30,618.76 |
49 | $30,618.76 | $557.03 | $0.00 | $173.12 | $31,348.91 |
50 | $31,348.91 | $557.03 | $0.00 | $177.25 | $32,083.19 |
51 | $32,083.19 | $557.03 | $0.00 | $181.40 | $32,821.62 |
52 | $32,821.62 | $557.03 | $0.00 | $185.58 | $33,564.23 |
53 | $33,564.23 | $557.03 | $0.00 | $189.78 | $34,311.04 |
54 | $34,311.04 | $557.03 | $0.00 | $194.00 | $35,062.07 |
55 | $35,062.07 | $557.03 | $0.00 | $198.25 | $35,817.35 |
56 | $35,817.35 | $557.03 | $0.00 | $202.52 | $36,576.90 |
57 | $36,576.90 | $557.03 | $0.00 | $206.81 | $37,340.74 |
58 | $37,340.74 | $557.03 | $0.00 | $211.13 | $38,108.90 |
59 | $38,108.90 | $557.03 | $0.00 | $215.47 | $38,881.40 |
60 | $38,881.40 | $557.03 | $0.00 | $219.84 | $39,658.27 |
61 | $39,658.27 | $557.03 | $0.00 | $224.23 | $40,439.53 |
62 | $40,439.53 | $557.03 | $0.00 | $228.65 | $41,225.21 |
63 | $41,225.21 | $557.03 | $0.00 | $233.09 | $42,015.33 |
64 | $42,015.33 | $557.03 | $0.00 | $237.56 | $42,809.92 |
65 | $42,809.92 | $557.03 | $0.00 | $242.05 | $43,609.00 |
66 | $43,609.00 | $557.03 | $0.00 | $246.57 | $44,412.60 |
67 | $44,412.60 | $557.03 | $0.00 | $251.12 | $45,220.75 |
68 | $45,220.75 | $557.03 | $0.00 | $255.68 | $46,033.46 |
69 | $46,033.46 | $557.03 | $0.00 | $260.28 | $46,850.77 |
70 | $46,850.77 | $557.03 | $0.00 | $264.90 | $47,672.70 |
71 | $47,672.70 | $557.03 | $0.00 | $269.55 | $48,499.28 |
72 | $48,499.28 | $557.03 | $0.00 | $274.22 | $49,330.53 |
73 | $49,330.53 | $557.03 | $0.00 | $278.92 | $50,166.48 |
74 | $50,166.48 | $557.03 | $0.00 | $283.65 | $51,007.16 |
75 | $51,007.16 | $557.03 | $0.00 | $288.40 | $51,852.59 |
76 | $51,852.59 | $557.03 | $0.00 | $293.18 | $52,702.80 |
77 | $52,702.80 | $557.03 | $0.00 | $297.99 | $53,557.82 |
78 | $53,557.82 | $557.03 | $0.00 | $302.82 | $54,417.67 |
79 | $54,417.67 | $557.03 | $0.00 | $307.69 | $55,282.39 |
80 | $55,282.39 | $557.03 | $0.00 | $312.57 | $56,151.99 |
81 | $56,151.99 | $557.03 | $0.00 | $317.49 | $57,026.51 |
82 | $57,026.51 | $557.03 | $0.00 | $322.44 | $57,905.98 |
83 | $57,905.98 | $557.03 | $0.00 | $327.41 | $58,790.42 |
84 | $58,790.42 | $557.03 | $0.00 | $332.41 | $59,679.86 |
85 | $59,679.86 | $557.03 | $0.00 | $337.44 | $60,574.33 |
86 | $60,574.33 | $557.03 | $0.00 | $342.50 | $61,473.86 |
87 | $61,473.86 | $557.03 | $0.00 | $347.58 | $62,378.47 |
88 | $62,378.47 | $557.03 | $0.00 | $352.70 | $63,288.20 |
89 | $63,288.20 | $557.03 | $0.00 | $357.84 | $64,203.07 |
90 | $64,203.07 | $557.03 | $0.00 | $363.01 | $65,123.11 |
91 | $65,123.11 | $557.03 | $0.00 | $368.22 | $66,048.36 |
92 | $66,048.36 | $557.03 | $0.00 | $373.45 | $66,978.84 |
93 | $66,978.84 | $557.03 | $0.00 | $378.71 | $67,914.58 |
94 | $67,914.58 | $557.03 | $0.00 | $384.00 | $68,855.61 |
95 | $68,855.61 | $557.03 | $0.00 | $389.32 | $69,801.96 |
96 | $69,801.96 | $557.03 | $0.00 | $394.67 | $70,753.66 |
97 | $70,753.66 | $557.03 | $0.00 | $400.05 | $71,710.74 |
98 | $71,710.74 | $557.03 | $0.00 | $405.46 | $72,673.23 |
99 | $72,673.23 | $557.03 | $0.00 | $410.91 | $73,641.17 |
100 | $73,641.17 | $557.03 | $0.00 | $416.38 | $74,614.58 |
101 | $74,614.58 | $557.03 | $0.00 | $421.88 | $75,593.49 |
102 | $75,593.49 | $557.03 | $0.00 | $427.42 | $76,577.94 |
103 | $76,577.94 | $557.03 | $0.00 | $432.98 | $77,567.95 |
104 | $77,567.95 | $557.03 | $0.00 | $438.58 | $78,563.56 |
105 | $78,563.56 | $557.03 | $0.00 | $444.21 | $79,564.80 |
106 | $79,564.80 | $557.03 | $0.00 | $449.87 | $80,571.70 |
107 | $80,571.70 | $557.03 | $0.00 | $455.56 | $81,584.29 |
108 | $81,584.29 | $557.03 | $0.00 | $461.29 | $82,602.61 |
109 | $82,602.61 | $557.03 | $0.00 | $467.05 | $83,626.69 |
110 | $83,626.69 | $557.03 | $0.00 | $472.84 | $84,656.56 |
111 | $84,656.56 | $557.03 | $0.00 | $478.66 | $85,692.25 |
112 | $85,692.25 | $557.03 | $0.00 | $484.52 | $86,733.80 |
113 | $86,733.80 | $557.03 | $0.00 | $490.41 | $87,781.24 |
114 | $87,781.24 | $557.03 | $0.00 | $496.33 | $88,834.60 |
115 | $88,834.60 | $557.03 | $0.00 | $502.28 | $89,893.91 |
116 | $89,893.91 | $557.03 | $0.00 | $508.27 | $90,959.21 |
117 | $90,959.21 | $557.03 | $0.00 | $514.30 | $92,030.54 |
118 | $92,030.54 | $557.03 | $0.00 | $520.35 | $93,107.92 |
119 | $93,107.92 | $557.03 | $0.00 | $526.45 | $94,191.40 |
120 | $94,191.40 | $557.03 | $0.00 | $532.57 | $95,281.00 |
121 | $95,281.00 | $557.03 | $0.00 | $538.73 | $96,376.76 |
122 | $96,376.76 | $557.03 | $0.00 | $544.93 | $97,478.72 |
123 | $97,478.72 | $557.03 | $0.00 | $551.16 | $98,586.91 |
124 | $98,586.91 | $557.03 | $0.00 | $557.42 | $99,701.36 |
125 | $99,701.36 | $557.03 | $0.00 | $563.73 | $100,822.12 |
126 | $100,822.12 | $557.03 | $0.00 | $570.06 | $101,949.21 |
127 | $101,949.21 | $557.03 | $0.00 | $576.44 | $103,082.68 |
128 | $103,082.68 | $557.03 | $0.00 | $582.84 | $104,222.55 |
129 | $104,222.55 | $557.03 | $0.00 | $589.29 | $105,368.87 |
130 | $105,368.87 | $557.03 | $0.00 | $595.77 | $106,521.67 |
131 | $106,521.67 | $557.03 | $0.00 | $602.29 | $107,680.99 |
132 | $107,680.99 | $557.03 | $0.00 | $608.84 | $108,846.86 |
133 | $108,846.86 | $557.03 | $0.00 | $615.44 | $110,019.33 |
134 | $110,019.33 | $557.03 | $0.00 | $622.07 | $111,198.43 |
135 | $111,198.43 | $557.03 | $0.00 | $628.73 | $112,384.19 |
136 | $112,384.19 | $557.03 | $0.00 | $635.44 | $113,576.66 |
137 | $113,576.66 | $557.03 | $0.00 | $642.18 | $114,775.87 |
138 | $114,775.87 | $557.03 | $0.00 | $648.96 | $115,981.86 |
139 | $115,981.86 | $557.03 | $0.00 | $655.78 | $117,194.67 |
140 | $117,194.67 | $557.03 | $0.00 | $662.64 | $118,414.34 |
141 | $118,414.34 | $557.03 | $0.00 | $669.53 | $119,640.90 |
142 | $119,640.90 | $557.03 | $0.00 | $676.47 | $120,874.40 |
143 | $120,874.40 | $557.03 | $0.00 | $683.44 | $122,114.87 |
144 | $122,114.87 | $557.03 | $0.00 | $690.46 | $123,362.36 |
145 | $123,362.36 | $557.03 | $0.00 | $697.51 | $124,616.90 |
146 | $124,616.90 | $557.03 | $0.00 | $704.60 | $125,878.53 |
147 | $125,878.53 | $557.03 | $0.00 | $711.74 | $127,147.30 |
148 | $127,147.30 | $557.03 | $0.00 | $718.91 | $128,423.24 |
149 | $128,423.24 | $557.03 | $0.00 | $726.12 | $129,706.39 |
150 | $129,706.39 | $557.03 | $0.00 | $733.38 | $130,996.80 |
151 | $130,996.80 | $557.03 | $0.00 | $740.67 | $132,294.50 |
152 | $132,294.50 | $557.03 | $0.00 | $748.01 | $133,599.54 |
153 | $133,599.54 | $557.03 | $0.00 | $755.39 | $134,911.96 |
154 | $134,911.96 | $557.03 | $0.00 | $762.81 | $136,231.80 |
155 | $136,231.80 | $557.03 | $0.00 | $770.27 | $137,559.10 |
156 | $137,559.10 | $557.03 | $0.00 | $777.78 | $138,893.91 |
157 | $138,893.91 | $557.03 | $0.00 | $785.33 | $140,236.27 |
158 | $140,236.27 | $557.03 | $0.00 | $792.92 | $141,586.22 |
159 | $141,586.22 | $557.03 | $0.00 | $800.55 | $142,943.80 |
160 | $142,943.80 | $557.03 | $0.00 | $808.23 | $144,309.06 |
161 | $144,309.06 | $557.03 | $0.00 | $815.94 | $145,682.03 |
162 | $145,682.03 | $557.03 | $0.00 | $823.71 | $147,062.77 |
163 | $147,062.77 | $557.03 | $0.00 | $831.51 | $148,451.31 |
164 | $148,451.31 | $557.03 | $0.00 | $839.37 | $149,847.71 |
165 | $149,847.71 | $557.03 | $0.00 | $847.26 | $151,252.00 |
166 | $151,252.00 | $557.03 | $0.00 | $855.20 | $152,664.23 |
167 | $152,664.23 | $557.03 | $0.00 | $863.19 | $154,084.45 |
168 | $154,084.45 | $557.03 | $0.00 | $871.22 | $155,512.70 |
169 | $155,512.70 | $557.03 | $0.00 | $879.29 | $156,949.02 |
170 | $156,949.02 | $557.03 | $0.00 | $887.41 | $158,393.46 |
171 | $158,393.46 | $557.03 | $0.00 | $895.58 | $159,846.07 |
172 | $159,846.07 | $557.03 | $0.00 | $903.79 | $161,306.89 |
173 | $161,306.89 | $557.03 | $0.00 | $912.05 | $162,775.97 |
174 | $162,775.97 | $557.03 | $0.00 | $920.36 | $164,253.36 |
175 | $164,253.36 | $557.03 | $0.00 | $928.71 | $165,739.10 |
176 | $165,739.10 | $557.03 | $0.00 | $937.11 | $167,233.24 |
177 | $167,233.24 | $557.03 | $0.00 | $945.56 | $168,735.83 |
178 | $168,735.83 | $557.03 | $0.00 | $954.06 | $170,246.92 |
179 | $170,246.92 | $557.03 | $0.00 | $962.60 | $171,766.55 |
180 | $171,766.55 | $557.03 | $0.00 | $971.19 | $173,294.77 |
181 | $173,294.77 | $557.03 | $0.00 | $979.83 | $174,831.63 |
182 | $174,831.63 | $557.03 | $0.00 | $988.52 | $176,377.18 |
183 | $176,377.18 | $557.03 | $0.00 | $997.26 | $177,931.47 |
184 | $177,931.47 | $557.03 | $0.00 | $1,006.05 | $179,494.55 |
185 | $179,494.55 | $557.03 | $0.00 | $1,014.89 | $181,066.47 |
186 | $181,066.47 | $557.03 | $0.00 | $1,023.78 | $182,647.28 |
187 | $182,647.28 | $557.03 | $0.00 | $1,032.71 | $184,237.02 |
188 | $184,237.02 | $557.03 | $0.00 | $1,041.70 | $185,835.75 |
189 | $185,835.75 | $557.03 | $0.00 | $1,050.74 | $187,443.52 |
190 | $187,443.52 | $557.03 | $0.00 | $1,059.83 | $189,060.38 |
191 | $189,060.38 | $557.03 | $0.00 | $1,068.97 | $190,686.38 |
192 | $190,686.38 | $557.03 | $0.00 | $1,078.17 | $192,321.58 |
193 | $192,321.58 | $557.03 | $0.00 | $1,087.41 | $193,966.02 |
194 | $193,966.02 | $557.03 | $0.00 | $1,096.71 | $195,619.76 |
195 | $195,619.76 | $557.03 | $0.00 | $1,106.06 | $197,282.85 |
196 | $197,282.85 | $557.03 | $0.00 | $1,115.47 | $198,955.35 |
197 | $198,955.35 | $557.03 | $0.00 | $1,124.92 | $200,637.30 |
198 | $200,637.30 | $557.03 | $0.00 | $1,134.43 | $202,328.76 |
199 | $202,328.76 | $557.03 | $0.00 | $1,144.00 | $204,029.79 |
200 | $204,029.79 | $557.03 | $0.00 | $1,153.61 | $205,740.43 |
201 | $205,740.43 | $557.03 | $0.00 | $1,163.29 | $207,460.75 |
202 | $207,460.75 | $557.03 | $0.00 | $1,173.01 | $209,190.79 |
203 | $209,190.79 | $557.03 | $0.00 | $1,182.80 | $210,930.62 |
204 | $210,930.62 | $557.03 | $0.00 | $1,192.63 | $212,680.28 |
205 | $212,680.28 | $557.03 | $0.00 | $1,202.53 | $214,439.84 |
206 | $214,439.84 | $557.03 | $0.00 | $1,212.47 | $216,209.34 |
207 | $216,209.34 | $557.03 | $0.00 | $1,222.48 | $217,988.85 |
208 | $217,988.85 | $557.03 | $0.00 | $1,232.54 | $219,778.42 |
209 | $219,778.42 | $557.03 | $0.00 | $1,242.66 | $221,578.11 |
210 | $221,578.11 | $557.03 | $0.00 | $1,252.83 | $223,387.97 |
211 | $223,387.97 | $557.03 | $0.00 | $1,263.07 | $225,208.07 |
212 | $225,208.07 | $557.03 | $0.00 | $1,273.36 | $227,038.46 |
213 | $227,038.46 | $557.03 | $0.00 | $1,283.71 | $228,879.20 |
214 | $228,879.20 | $557.03 | $0.00 | $1,294.12 | $230,730.35 |
215 | $230,730.35 | $557.03 | $0.00 | $1,304.58 | $232,591.96 |
216 | $232,591.96 | $557.03 | $0.00 | $1,315.11 | $234,464.10 |
217 | $234,464.10 | $557.03 | $65,306.02 | $1,325.69 | $171,040.80 |
218 | $171,040.80 | $557.03 | $0.00 | $967.09 | $172,564.92 |
219 | $172,564.92 | $557.03 | $0.00 | $975.71 | $174,097.66 |
220 | $174,097.66 | $557.03 | $0.00 | $984.37 | $175,639.06 |
221 | $175,639.06 | $557.03 | $0.00 | $993.09 | $177,189.18 |
222 | $177,189.18 | $557.03 | $0.00 | $1,001.85 | $178,748.06 |
223 | $178,748.06 | $557.03 | $0.00 | $1,010.67 | $180,315.76 |
224 | $180,315.76 | $557.03 | $0.00 | $1,019.53 | $181,892.32 |
225 | $181,892.32 | $557.03 | $0.00 | $1,028.45 | $183,477.80 |
226 | $183,477.80 | $557.03 | $0.00 | $1,037.41 | $185,072.24 |
227 | $185,072.24 | $557.03 | $0.00 | $1,046.43 | $186,675.70 |
228 | $186,675.70 | $557.03 | $0.00 | $1,055.49 | $188,288.22 |
229 | $188,288.22 | $557.03 | $68,571.32 | $1,064.61 | $121,338.54 |
230 | $121,338.54 | $557.03 | $0.00 | $686.07 | $122,581.64 |
231 | $122,581.64 | $557.03 | $0.00 | $693.09 | $123,831.76 |
232 | $123,831.76 | $557.03 | $0.00 | $700.16 | $125,088.95 |
233 | $125,088.95 | $557.03 | $0.00 | $707.27 | $126,353.25 |
234 | $126,353.25 | $557.03 | $0.00 | $714.42 | $127,624.70 |
235 | $127,624.70 | $557.03 | $0.00 | $721.61 | $128,903.34 |
236 | $128,903.34 | $557.03 | $0.00 | $728.84 | $130,189.21 |
237 | $130,189.21 | $557.03 | $0.00 | $736.11 | $131,482.35 |
238 | $131,482.35 | $557.03 | $0.00 | $743.42 | $132,782.80 |
239 | $132,782.80 | $557.03 | $0.00 | $750.77 | $134,090.60 |
240 | $134,090.60 | $557.03 | $0.00 | $758.17 | $135,405.80 |
241 | $135,405.80 | $557.03 | $71,999.89 | $765.60 | $64,728.54 |
242 | $64,728.54 | $557.03 | $0.00 | $365.98 | $65,651.55 |
243 | $65,651.55 | $557.03 | $0.00 | $371.20 | $66,579.78 |
244 | $66,579.78 | $557.03 | $0.00 | $376.45 | $67,513.26 |
245 | $67,513.26 | $557.03 | $0.00 | $381.73 | $68,452.02 |
246 | $68,452.02 | $557.03 | $0.00 | $387.04 | $69,396.09 |
247 | $69,396.09 | $557.03 | $0.00 | $392.38 | $70,345.50 |
248 | $70,345.50 | $557.03 | $0.00 | $397.74 | $71,300.27 |
249 | $71,300.27 | $557.03 | $0.00 | $403.14 | $72,260.44 |
250 | $72,260.44 | $557.03 | $0.00 | $408.57 | $73,226.04 |
251 | $73,226.04 | $557.03 | $0.00 | $414.03 | $74,197.10 |
252 | $74,197.10 | $557.03 | $0.00 | $419.52 | $75,173.65 |
253 | $75,173.65 | $0.00 | $75,599.88 | $425.04 | ($1.19) |