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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$32,708
Monthly savings required$259

How much will it cost to send your child to Christian Life College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $130,832.50 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $258.92 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$12,613.00
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 $258.92 $0.00 $0.00 $258.92
2 $258.92 $258.92 $0.00 $1.46 $519.30
3 $519.30 $258.92 $0.00 $2.94 $781.16
4 $781.16 $258.92 $0.00 $4.42 $1,044.50
5 $1,044.50 $258.92 $0.00 $5.91 $1,309.33
6 $1,309.33 $258.92 $0.00 $7.40 $1,575.65
7 $1,575.65 $258.92 $0.00 $8.91 $1,843.48
8 $1,843.48 $258.92 $0.00 $10.42 $2,112.82
9 $2,112.82 $258.92 $0.00 $11.95 $2,383.69
10 $2,383.69 $258.92 $0.00 $13.48 $2,656.09
11 $2,656.09 $258.92 $0.00 $15.02 $2,930.03
12 $2,930.03 $258.92 $0.00 $16.57 $3,205.52
13 $3,205.52 $258.92 $0.00 $18.12 $3,482.56
14 $3,482.56 $258.92 $0.00 $19.69 $3,761.17
15 $3,761.17 $258.92 $0.00 $21.27 $4,041.36
16 $4,041.36 $258.92 $0.00 $22.85 $4,323.13
17 $4,323.13 $258.92 $0.00 $24.44 $4,606.49
18 $4,606.49 $258.92 $0.00 $26.05 $4,891.46
19 $4,891.46 $258.92 $0.00 $27.66 $5,178.04
20 $5,178.04 $258.92 $0.00 $29.28 $5,466.24
21 $5,466.24 $258.92 $0.00 $30.91 $5,756.07
22 $5,756.07 $258.92 $0.00 $32.55 $6,047.54
23 $6,047.54 $258.92 $0.00 $34.19 $6,340.65
24 $6,340.65 $258.92 $0.00 $35.85 $6,635.42
25 $6,635.42 $258.92 $0.00 $37.52 $6,931.86
26 $6,931.86 $258.92 $0.00 $39.19 $7,229.97
27 $7,229.97 $258.92 $0.00 $40.88 $7,529.77
28 $7,529.77 $258.92 $0.00 $42.57 $7,831.26
29 $7,831.26 $258.92 $0.00 $44.28 $8,134.46
30 $8,134.46 $258.92 $0.00 $45.99 $8,439.37
31 $8,439.37 $258.92 $0.00 $47.72 $8,746.01
32 $8,746.01 $258.92 $0.00 $49.45 $9,054.38
33 $9,054.38 $258.92 $0.00 $51.19 $9,364.49
34 $9,364.49 $258.92 $0.00 $52.95 $9,676.36
35 $9,676.36 $258.92 $0.00 $54.71 $9,989.99
36 $9,989.99 $258.92 $0.00 $56.48 $10,305.39
37 $10,305.39 $258.92 $0.00 $58.27 $10,622.58
38 $10,622.58 $258.92 $0.00 $60.06 $10,941.56
39 $10,941.56 $258.92 $0.00 $61.87 $11,262.35
40 $11,262.35 $258.92 $0.00 $63.68 $11,584.95
41 $11,584.95 $258.92 $0.00 $65.50 $11,909.37
42 $11,909.37 $258.92 $0.00 $67.34 $12,235.63
43 $12,235.63 $258.92 $0.00 $69.18 $12,563.73
44 $12,563.73 $258.92 $0.00 $71.04 $12,893.69
45 $12,893.69 $258.92 $0.00 $72.90 $13,225.51
46 $13,225.51 $258.92 $0.00 $74.78 $13,559.21
47 $13,559.21 $258.92 $0.00 $76.67 $13,894.80
48 $13,894.80 $258.92 $0.00 $78.56 $14,232.28
49 $14,232.28 $258.92 $0.00 $80.47 $14,571.67
50 $14,571.67 $258.92 $0.00 $82.39 $14,912.98
51 $14,912.98 $258.92 $0.00 $84.32 $15,256.22
52 $15,256.22 $258.92 $0.00 $86.26 $15,601.40
53 $15,601.40 $258.92 $0.00 $88.21 $15,948.53
54 $15,948.53 $258.92 $0.00 $90.18 $16,297.63
55 $16,297.63 $258.92 $0.00 $92.15 $16,648.70
56 $16,648.70 $258.92 $0.00 $94.13 $17,001.75
57 $17,001.75 $258.92 $0.00 $96.13 $17,356.80
58 $17,356.80 $258.92 $0.00 $98.14 $17,713.86
59 $17,713.86 $258.92 $0.00 $100.16 $18,072.94
60 $18,072.94 $258.92 $0.00 $102.19 $18,434.05
61 $18,434.05 $258.92 $0.00 $104.23 $18,797.20
62 $18,797.20 $258.92 $0.00 $106.28 $19,162.40
63 $19,162.40 $258.92 $0.00 $108.35 $19,529.67
64 $19,529.67 $258.92 $0.00 $110.42 $19,899.01
65 $19,899.01 $258.92 $0.00 $112.51 $20,270.44
66 $20,270.44 $258.92 $0.00 $114.61 $20,643.97
67 $20,643.97 $258.92 $0.00 $116.72 $21,019.61
68 $21,019.61 $258.92 $0.00 $118.85 $21,397.38
69 $21,397.38 $258.92 $0.00 $120.98 $21,777.28
70 $21,777.28 $258.92 $0.00 $123.13 $22,159.33
71 $22,159.33 $258.92 $0.00 $125.29 $22,543.54
72 $22,543.54 $258.92 $0.00 $127.46 $22,929.92
73 $22,929.92 $258.92 $0.00 $129.65 $23,318.49
74 $23,318.49 $258.92 $0.00 $131.85 $23,709.26
75 $23,709.26 $258.92 $0.00 $134.06 $24,102.24
76 $24,102.24 $258.92 $0.00 $136.28 $24,497.44
77 $24,497.44 $258.92 $0.00 $138.51 $24,894.87
78 $24,894.87 $258.92 $0.00 $140.76 $25,294.55
79 $25,294.55 $258.92 $0.00 $143.02 $25,696.49
80 $25,696.49 $258.92 $0.00 $145.29 $26,100.70
81 $26,100.70 $258.92 $0.00 $147.58 $26,507.20
82 $26,507.20 $258.92 $0.00 $149.88 $26,916.00
83 $26,916.00 $258.92 $0.00 $152.19 $27,327.11
84 $27,327.11 $258.92 $0.00 $154.51 $27,740.54
85 $27,740.54 $258.92 $0.00 $156.85 $28,156.31
86 $28,156.31 $258.92 $0.00 $159.20 $28,574.43
87 $28,574.43 $258.92 $0.00 $161.56 $28,994.91
88 $28,994.91 $258.92 $0.00 $163.94 $29,417.77
89 $29,417.77 $258.92 $0.00 $166.33 $29,843.02
90 $29,843.02 $258.92 $0.00 $168.74 $30,270.68
91 $30,270.68 $258.92 $0.00 $171.15 $30,700.75
92 $30,700.75 $258.92 $0.00 $173.59 $31,133.26
93 $31,133.26 $258.92 $0.00 $176.03 $31,568.21
94 $31,568.21 $258.92 $0.00 $178.49 $32,005.62
95 $32,005.62 $258.92 $0.00 $180.96 $32,445.50
96 $32,445.50 $258.92 $0.00 $183.45 $32,887.87
97 $32,887.87 $258.92 $0.00 $185.95 $33,332.74
98 $33,332.74 $258.92 $0.00 $188.47 $33,780.13
99 $33,780.13 $258.92 $0.00 $191.00 $34,230.05
100 $34,230.05 $258.92 $0.00 $193.54 $34,682.51
101 $34,682.51 $258.92 $0.00 $196.10 $35,137.53
102 $35,137.53 $258.92 $0.00 $198.67 $35,595.12
103 $35,595.12 $258.92 $0.00 $201.26 $36,055.30
104 $36,055.30 $258.92 $0.00 $203.86 $36,518.08
105 $36,518.08 $258.92 $0.00 $206.48 $36,983.48
106 $36,983.48 $258.92 $0.00 $209.11 $37,451.51
107 $37,451.51 $258.92 $0.00 $211.76 $37,922.19
108 $37,922.19 $258.92 $0.00 $214.42 $38,395.53
109 $38,395.53 $258.92 $0.00 $217.09 $38,871.54
110 $38,871.54 $258.92 $0.00 $219.79 $39,350.25
111 $39,350.25 $258.92 $0.00 $222.49 $39,831.66
112 $39,831.66 $258.92 $0.00 $225.21 $40,315.79
113 $40,315.79 $258.92 $0.00 $227.95 $40,802.66
114 $40,802.66 $258.92 $0.00 $230.70 $41,292.28
115 $41,292.28 $258.92 $0.00 $233.47 $41,784.67
116 $41,784.67 $258.92 $0.00 $236.26 $42,279.85
117 $42,279.85 $258.92 $0.00 $239.06 $42,777.83
118 $42,777.83 $258.92 $0.00 $241.87 $43,278.62
119 $43,278.62 $258.92 $0.00 $244.70 $43,782.24
120 $43,782.24 $258.92 $0.00 $247.55 $44,288.71
121 $44,288.71 $258.92 $0.00 $250.41 $44,798.04
122 $44,798.04 $258.92 $0.00 $253.29 $45,310.25
123 $45,310.25 $258.92 $0.00 $256.19 $45,825.36
124 $45,825.36 $258.92 $0.00 $259.10 $46,343.38
125 $46,343.38 $258.92 $0.00 $262.03 $46,864.33
126 $46,864.33 $258.92 $0.00 $264.98 $47,388.23
127 $47,388.23 $258.92 $0.00 $267.94 $47,915.09
128 $47,915.09 $258.92 $0.00 $270.92 $48,444.93
129 $48,444.93 $258.92 $0.00 $273.91 $48,977.76
130 $48,977.76 $258.92 $0.00 $276.93 $49,513.61
131 $49,513.61 $258.92 $0.00 $279.96 $50,052.49
132 $50,052.49 $258.92 $0.00 $283.00 $50,594.41
133 $50,594.41 $258.92 $0.00 $286.07 $51,139.40
134 $51,139.40 $258.92 $0.00 $289.15 $51,687.47
135 $51,687.47 $258.92 $0.00 $292.25 $52,238.64
136 $52,238.64 $258.92 $0.00 $295.36 $52,792.92
137 $52,792.92 $258.92 $0.00 $298.50 $53,350.34
138 $53,350.34 $258.92 $0.00 $301.65 $53,910.91
139 $53,910.91 $258.92 $0.00 $304.82 $54,474.65
140 $54,474.65 $258.92 $0.00 $308.01 $55,041.58
141 $55,041.58 $258.92 $0.00 $311.21 $55,611.71
142 $55,611.71 $258.92 $0.00 $314.44 $56,185.07
143 $56,185.07 $258.92 $0.00 $317.68 $56,761.67
144 $56,761.67 $258.92 $0.00 $320.94 $57,341.53
145 $57,341.53 $258.92 $0.00 $324.22 $57,924.67
146 $57,924.67 $258.92 $0.00 $327.51 $58,511.10
147 $58,511.10 $258.92 $0.00 $330.83 $59,100.85
148 $59,100.85 $258.92 $0.00 $334.16 $59,693.93
149 $59,693.93 $258.92 $0.00 $337.52 $60,290.37
150 $60,290.37 $258.92 $0.00 $340.89 $60,890.18
151 $60,890.18 $258.92 $0.00 $344.28 $61,493.38
152 $61,493.38 $258.92 $0.00 $347.69 $62,099.99
153 $62,099.99 $258.92 $0.00 $351.12 $62,710.03
154 $62,710.03 $258.92 $0.00 $354.57 $63,323.52
155 $63,323.52 $258.92 $0.00 $358.04 $63,940.48
156 $63,940.48 $258.92 $0.00 $361.53 $64,560.93
157 $64,560.93 $258.92 $0.00 $365.04 $65,184.89
158 $65,184.89 $258.92 $0.00 $368.56 $65,812.37
159 $65,812.37 $258.92 $0.00 $372.11 $66,443.40
160 $66,443.40 $258.92 $0.00 $375.68 $67,078.00
161 $67,078.00 $258.92 $0.00 $379.27 $67,716.19
162 $67,716.19 $258.92 $0.00 $382.88 $68,357.99
163 $68,357.99 $258.92 $0.00 $386.51 $69,003.42
164 $69,003.42 $258.92 $0.00 $390.16 $69,652.50
165 $69,652.50 $258.92 $0.00 $393.83 $70,305.25
166 $70,305.25 $258.92 $0.00 $397.52 $70,961.69
167 $70,961.69 $258.92 $0.00 $401.23 $71,621.84
168 $71,621.84 $258.92 $0.00 $404.96 $72,285.72
169 $72,285.72 $258.92 $0.00 $408.71 $72,953.35
170 $72,953.35 $258.92 $0.00 $412.49 $73,624.76
171 $73,624.76 $258.92 $0.00 $416.29 $74,299.97
172 $74,299.97 $258.92 $0.00 $420.10 $74,978.99
173 $74,978.99 $258.92 $0.00 $423.94 $75,661.85
174 $75,661.85 $258.92 $0.00 $427.80 $76,348.57
175 $76,348.57 $258.92 $0.00 $431.69 $77,039.18
176 $77,039.18 $258.92 $0.00 $435.59 $77,733.69
177 $77,733.69 $258.92 $0.00 $439.52 $78,432.13
178 $78,432.13 $258.92 $0.00 $443.47 $79,134.52
179 $79,134.52 $258.92 $0.00 $447.44 $79,840.88
180 $79,840.88 $258.92 $0.00 $451.43 $80,551.23
181 $80,551.23 $258.92 $0.00 $455.45 $81,265.60
182 $81,265.60 $258.92 $0.00 $459.49 $81,984.01
183 $81,984.01 $258.92 $0.00 $463.55 $82,706.48
184 $82,706.48 $258.92 $0.00 $467.63 $83,433.03
185 $83,433.03 $258.92 $0.00 $471.74 $84,163.69
186 $84,163.69 $258.92 $0.00 $475.87 $84,898.48
187 $84,898.48 $258.92 $0.00 $480.03 $85,637.43
188 $85,637.43 $258.92 $0.00 $484.21 $86,380.56
189 $86,380.56 $258.92 $0.00 $488.41 $87,127.89
190 $87,127.89 $258.92 $0.00 $492.63 $87,879.44
191 $87,879.44 $258.92 $0.00 $496.88 $88,635.24
192 $88,635.24 $258.92 $0.00 $501.16 $89,395.32
193 $89,395.32 $258.92 $0.00 $505.45 $90,159.69
194 $90,159.69 $258.92 $0.00 $509.78 $90,928.39
195 $90,928.39 $258.92 $0.00 $514.12 $91,701.43
196 $91,701.43 $258.92 $0.00 $518.49 $92,478.84
197 $92,478.84 $258.92 $0.00 $522.89 $93,260.65
198 $93,260.65 $258.92 $0.00 $527.31 $94,046.88
199 $94,046.88 $258.92 $0.00 $531.75 $94,837.55
200 $94,837.55 $258.92 $0.00 $536.23 $95,632.70
201 $95,632.70 $258.92 $0.00 $540.72 $96,432.34
202 $96,432.34 $258.92 $0.00 $545.24 $97,236.50
203 $97,236.50 $258.92 $0.00 $549.79 $98,045.21
204 $98,045.21 $258.92 $0.00 $554.36 $98,858.49
205 $98,858.49 $258.92 $0.00 $558.96 $99,676.37
206 $99,676.37 $258.92 $0.00 $563.58 $100,498.87
207 $100,498.87 $258.92 $0.00 $568.24 $101,326.03
208 $101,326.03 $258.92 $0.00 $572.91 $102,157.86
209 $102,157.86 $258.92 $0.00 $577.62 $102,994.40
210 $102,994.40 $258.92 $0.00 $582.35 $103,835.67
211 $103,835.67 $258.92 $0.00 $587.10 $104,681.69
212 $104,681.69 $258.92 $0.00 $591.89 $105,532.50
213 $105,532.50 $258.92 $0.00 $596.70 $106,388.12
214 $106,388.12 $258.92 $0.00 $601.53 $107,248.57
215 $107,248.57 $258.92 $0.00 $606.40 $108,113.89
216 $108,113.89 $258.92 $0.00 $611.29 $108,984.10
217 $108,984.10 $258.92 $30,354.69 $616.21 $79,504.54
218 $79,504.54 $258.92 $0.00 $449.53 $80,212.99
219 $80,212.99 $258.92 $0.00 $453.54 $80,925.45
220 $80,925.45 $258.92 $0.00 $457.56 $81,641.93
221 $81,641.93 $258.92 $0.00 $461.62 $82,362.47
222 $82,362.47 $258.92 $0.00 $465.69 $83,087.08
223 $83,087.08 $258.92 $0.00 $469.79 $83,815.79
224 $83,815.79 $258.92 $0.00 $473.91 $84,548.62
225 $84,548.62 $258.92 $0.00 $478.05 $85,285.59
226 $85,285.59 $258.92 $0.00 $482.22 $86,026.73
227 $86,026.73 $258.92 $0.00 $486.41 $86,772.06
228 $86,772.06 $258.92 $0.00 $490.62 $87,521.60
229 $87,521.60 $258.92 $31,872.42 $494.86 $56,402.96
230 $56,402.96 $258.92 $0.00 $318.91 $56,980.79
231 $56,980.79 $258.92 $0.00 $322.18 $57,561.89
232 $57,561.89 $258.92 $0.00 $325.46 $58,146.27
233 $58,146.27 $258.92 $0.00 $328.77 $58,733.96
234 $58,733.96 $258.92 $0.00 $332.09 $59,324.97
235 $59,324.97 $258.92 $0.00 $335.43 $59,919.32
236 $59,919.32 $258.92 $0.00 $338.79 $60,517.03
237 $60,517.03 $258.92 $0.00 $342.17 $61,118.12
238 $61,118.12 $258.92 $0.00 $345.57 $61,722.61
239 $61,722.61 $258.92 $0.00 $348.99 $62,330.52
240 $62,330.52 $258.92 $0.00 $352.43 $62,941.87
241 $62,941.87 $258.92 $33,466.04 $355.88 $30,090.63
242 $30,090.63 $258.92 $0.00 $170.14 $30,519.69
243 $30,519.69 $258.92 $0.00 $172.56 $30,951.17
244 $30,951.17 $258.92 $0.00 $175.00 $31,385.09
245 $31,385.09 $258.92 $0.00 $177.46 $31,821.47
246 $31,821.47 $258.92 $0.00 $179.92 $32,260.31
247 $32,260.31 $258.92 $0.00 $182.40 $32,701.63
248 $32,701.63 $258.92 $0.00 $184.90 $33,145.45
249 $33,145.45 $258.92 $0.00 $187.41 $33,591.78
250 $33,591.78 $258.92 $0.00 $189.93 $34,040.63
251 $34,040.63 $258.92 $0.00 $192.47 $34,492.02
252 $34,492.02 $258.92 $0.00 $195.02 $34,945.96
253 $34,945.96 $0.00 $35,139.35 $197.59 $4.20