Savings Plan and Future Cost Estimation for Eastern Illinois University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$65,043
Monthly savings required$515

How much will it cost to send your child to Eastern Illinois University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $260,171.32 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $514.87 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$25,082.00
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 $514.87 $0.00 $0.00 $514.87
2 $514.87 $514.87 $0.00 $2.91 $1,032.65
3 $1,032.65 $514.87 $0.00 $5.84 $1,553.36
4 $1,553.36 $514.87 $0.00 $8.78 $2,077.01
5 $2,077.01 $514.87 $0.00 $11.74 $2,603.62
6 $2,603.62 $514.87 $0.00 $14.72 $3,133.21
7 $3,133.21 $514.87 $0.00 $17.72 $3,665.80
8 $3,665.80 $514.87 $0.00 $20.73 $4,201.40
9 $4,201.40 $514.87 $0.00 $23.76 $4,740.03
10 $4,740.03 $514.87 $0.00 $26.80 $5,281.70
11 $5,281.70 $514.87 $0.00 $29.86 $5,826.43
12 $5,826.43 $514.87 $0.00 $32.94 $6,374.24
13 $6,374.24 $514.87 $0.00 $36.04 $6,925.15
14 $6,925.15 $514.87 $0.00 $39.16 $7,479.18
15 $7,479.18 $514.87 $0.00 $42.29 $8,036.34
16 $8,036.34 $514.87 $0.00 $45.44 $8,596.65
17 $8,596.65 $514.87 $0.00 $48.61 $9,160.13
18 $9,160.13 $514.87 $0.00 $51.79 $9,726.79
19 $9,726.79 $514.87 $0.00 $55.00 $10,296.66
20 $10,296.66 $514.87 $0.00 $58.22 $10,869.75
21 $10,869.75 $514.87 $0.00 $61.46 $11,446.08
22 $11,446.08 $514.87 $0.00 $64.72 $12,025.67
23 $12,025.67 $514.87 $0.00 $67.99 $12,608.53
24 $12,608.53 $514.87 $0.00 $71.29 $13,194.69
25 $13,194.69 $514.87 $0.00 $74.60 $13,784.16
26 $13,784.16 $514.87 $0.00 $77.94 $14,376.97
27 $14,376.97 $514.87 $0.00 $81.29 $14,973.13
28 $14,973.13 $514.87 $0.00 $84.66 $15,572.66
29 $15,572.66 $514.87 $0.00 $88.05 $16,175.58
30 $16,175.58 $514.87 $0.00 $91.46 $16,781.91
31 $16,781.91 $514.87 $0.00 $94.89 $17,391.67
32 $17,391.67 $514.87 $0.00 $98.34 $18,004.88
33 $18,004.88 $514.87 $0.00 $101.80 $18,621.55
34 $18,621.55 $514.87 $0.00 $105.29 $19,241.71
35 $19,241.71 $514.87 $0.00 $108.80 $19,865.38
36 $19,865.38 $514.87 $0.00 $112.32 $20,492.57
37 $20,492.57 $514.87 $0.00 $115.87 $21,123.31
38 $21,123.31 $514.87 $0.00 $119.43 $21,757.61
39 $21,757.61 $514.87 $0.00 $123.02 $22,395.50
40 $22,395.50 $514.87 $0.00 $126.63 $23,037.00
41 $23,037.00 $514.87 $0.00 $130.25 $23,682.12
42 $23,682.12 $514.87 $0.00 $133.90 $24,330.89
43 $24,330.89 $514.87 $0.00 $137.57 $24,983.33
44 $24,983.33 $514.87 $0.00 $141.26 $25,639.46
45 $25,639.46 $514.87 $0.00 $144.97 $26,299.30
46 $26,299.30 $514.87 $0.00 $148.70 $26,962.87
47 $26,962.87 $514.87 $0.00 $152.45 $27,630.19
48 $27,630.19 $514.87 $0.00 $156.23 $28,301.29
49 $28,301.29 $514.87 $0.00 $160.02 $28,976.18
50 $28,976.18 $514.87 $0.00 $163.84 $29,654.89
51 $29,654.89 $514.87 $0.00 $167.67 $30,337.43
52 $30,337.43 $514.87 $0.00 $171.53 $31,023.83
53 $31,023.83 $514.87 $0.00 $175.41 $31,714.11
54 $31,714.11 $514.87 $0.00 $179.32 $32,408.30
55 $32,408.30 $514.87 $0.00 $183.24 $33,106.41
56 $33,106.41 $514.87 $0.00 $187.19 $33,808.47
57 $33,808.47 $514.87 $0.00 $191.16 $34,514.50
58 $34,514.50 $514.87 $0.00 $195.15 $35,224.52
59 $35,224.52 $514.87 $0.00 $199.16 $35,938.55
60 $35,938.55 $514.87 $0.00 $203.20 $36,656.62
61 $36,656.62 $514.87 $0.00 $207.26 $37,378.75
62 $37,378.75 $514.87 $0.00 $211.34 $38,104.96
63 $38,104.96 $514.87 $0.00 $215.45 $38,835.28
64 $38,835.28 $514.87 $0.00 $219.58 $39,569.73
65 $39,569.73 $514.87 $0.00 $223.73 $40,308.33
66 $40,308.33 $514.87 $0.00 $227.91 $41,051.11
67 $41,051.11 $514.87 $0.00 $232.11 $41,798.09
68 $41,798.09 $514.87 $0.00 $236.33 $42,549.29
69 $42,549.29 $514.87 $0.00 $240.58 $43,304.74
70 $43,304.74 $514.87 $0.00 $244.85 $44,064.46
71 $44,064.46 $514.87 $0.00 $249.15 $44,828.48
72 $44,828.48 $514.87 $0.00 $253.47 $45,596.82
73 $45,596.82 $514.87 $0.00 $257.81 $46,369.50
74 $46,369.50 $514.87 $0.00 $262.18 $47,146.55
75 $47,146.55 $514.87 $0.00 $266.57 $47,927.99
76 $47,927.99 $514.87 $0.00 $270.99 $48,713.85
77 $48,713.85 $514.87 $0.00 $275.44 $49,504.16
78 $49,504.16 $514.87 $0.00 $279.90 $50,298.93
79 $50,298.93 $514.87 $0.00 $284.40 $51,098.20
80 $51,098.20 $514.87 $0.00 $288.92 $51,901.99
81 $51,901.99 $514.87 $0.00 $293.46 $52,710.32
82 $52,710.32 $514.87 $0.00 $298.03 $53,523.22
83 $53,523.22 $514.87 $0.00 $302.63 $54,340.72
84 $54,340.72 $514.87 $0.00 $307.25 $55,162.84
85 $55,162.84 $514.87 $0.00 $311.90 $55,989.61
86 $55,989.61 $514.87 $0.00 $316.57 $56,821.05
87 $56,821.05 $514.87 $0.00 $321.27 $57,657.19
88 $57,657.19 $514.87 $0.00 $326.00 $58,498.06
89 $58,498.06 $514.87 $0.00 $330.76 $59,343.69
90 $59,343.69 $514.87 $0.00 $335.54 $60,194.10
91 $60,194.10 $514.87 $0.00 $340.35 $61,049.32
92 $61,049.32 $514.87 $0.00 $345.18 $61,909.37
93 $61,909.37 $514.87 $0.00 $350.04 $62,774.28
94 $62,774.28 $514.87 $0.00 $354.93 $63,644.08
95 $63,644.08 $514.87 $0.00 $359.85 $64,518.80
96 $64,518.80 $514.87 $0.00 $364.80 $65,398.47
97 $65,398.47 $514.87 $0.00 $369.77 $66,283.11
98 $66,283.11 $514.87 $0.00 $374.77 $67,172.75
99 $67,172.75 $514.87 $0.00 $379.80 $68,067.42
100 $68,067.42 $514.87 $0.00 $384.86 $68,967.15
101 $68,967.15 $514.87 $0.00 $389.95 $69,871.97
102 $69,871.97 $514.87 $0.00 $395.07 $70,781.91
103 $70,781.91 $514.87 $0.00 $400.21 $71,696.99
104 $71,696.99 $514.87 $0.00 $405.39 $72,617.25
105 $72,617.25 $514.87 $0.00 $410.59 $73,542.71
106 $73,542.71 $514.87 $0.00 $415.82 $74,473.40
107 $74,473.40 $514.87 $0.00 $421.08 $75,409.35
108 $75,409.35 $514.87 $0.00 $426.38 $76,350.60
109 $76,350.60 $514.87 $0.00 $431.70 $77,297.17
110 $77,297.17 $514.87 $0.00 $437.05 $78,249.09
111 $78,249.09 $514.87 $0.00 $442.43 $79,206.39
112 $79,206.39 $514.87 $0.00 $447.84 $80,169.10
113 $80,169.10 $514.87 $0.00 $453.29 $81,137.26
114 $81,137.26 $514.87 $0.00 $458.76 $82,110.89
115 $82,110.89 $514.87 $0.00 $464.27 $83,090.03
116 $83,090.03 $514.87 $0.00 $469.80 $84,074.70
117 $84,074.70 $514.87 $0.00 $475.37 $85,064.94
118 $85,064.94 $514.87 $0.00 $480.97 $86,060.78
119 $86,060.78 $514.87 $0.00 $486.60 $87,062.25
120 $87,062.25 $514.87 $0.00 $492.26 $88,069.38
121 $88,069.38 $514.87 $0.00 $497.96 $89,082.21
122 $89,082.21 $514.87 $0.00 $503.68 $90,100.76
123 $90,100.76 $514.87 $0.00 $509.44 $91,125.07
124 $91,125.07 $514.87 $0.00 $515.23 $92,155.17
125 $92,155.17 $514.87 $0.00 $521.06 $93,191.10
126 $93,191.10 $514.87 $0.00 $526.92 $94,232.89
127 $94,232.89 $514.87 $0.00 $532.81 $95,280.57
128 $95,280.57 $514.87 $0.00 $538.73 $96,334.17
129 $96,334.17 $514.87 $0.00 $544.69 $97,393.73
130 $97,393.73 $514.87 $0.00 $550.68 $98,459.28
131 $98,459.28 $514.87 $0.00 $556.70 $99,530.85
132 $99,530.85 $514.87 $0.00 $562.76 $100,608.48
133 $100,608.48 $514.87 $0.00 $568.85 $101,692.20
134 $101,692.20 $514.87 $0.00 $574.98 $102,782.05
135 $102,782.05 $514.87 $0.00 $581.14 $103,878.06
136 $103,878.06 $514.87 $0.00 $587.34 $104,980.27
137 $104,980.27 $514.87 $0.00 $593.57 $106,088.71
138 $106,088.71 $514.87 $0.00 $599.84 $107,203.42
139 $107,203.42 $514.87 $0.00 $606.14 $108,324.43
140 $108,324.43 $514.87 $0.00 $612.48 $109,451.78
141 $109,451.78 $514.87 $0.00 $618.86 $110,585.51
142 $110,585.51 $514.87 $0.00 $625.27 $111,725.65
143 $111,725.65 $514.87 $0.00 $631.71 $112,872.23
144 $112,872.23 $514.87 $0.00 $638.20 $114,025.30
145 $114,025.30 $514.87 $0.00 $644.72 $115,184.89
146 $115,184.89 $514.87 $0.00 $651.27 $116,351.03
147 $116,351.03 $514.87 $0.00 $657.87 $117,523.77
148 $117,523.77 $514.87 $0.00 $664.50 $118,703.14
149 $118,703.14 $514.87 $0.00 $671.16 $119,889.17
150 $119,889.17 $514.87 $0.00 $677.87 $121,081.91
151 $121,081.91 $514.87 $0.00 $684.61 $122,281.39
152 $122,281.39 $514.87 $0.00 $691.40 $123,487.66
153 $123,487.66 $514.87 $0.00 $698.22 $124,700.75
154 $124,700.75 $514.87 $0.00 $705.08 $125,920.70
155 $125,920.70 $514.87 $0.00 $711.97 $127,147.54
156 $127,147.54 $514.87 $0.00 $718.91 $128,381.32
157 $128,381.32 $514.87 $0.00 $725.89 $129,622.08
158 $129,622.08 $514.87 $0.00 $732.90 $130,869.85
159 $130,869.85 $514.87 $0.00 $739.96 $132,124.68
160 $132,124.68 $514.87 $0.00 $747.05 $133,386.60
161 $133,386.60 $514.87 $0.00 $754.19 $134,655.66
162 $134,655.66 $514.87 $0.00 $761.36 $135,931.89
163 $135,931.89 $514.87 $0.00 $768.58 $137,215.34
164 $137,215.34 $514.87 $0.00 $775.84 $138,506.05
165 $138,506.05 $514.87 $0.00 $783.13 $139,804.05
166 $139,804.05 $514.87 $0.00 $790.47 $141,109.39
167 $141,109.39 $514.87 $0.00 $797.85 $142,422.11
168 $142,422.11 $514.87 $0.00 $805.28 $143,742.26
169 $143,742.26 $514.87 $0.00 $812.74 $145,069.87
170 $145,069.87 $514.87 $0.00 $820.25 $146,404.99
171 $146,404.99 $514.87 $0.00 $827.80 $147,747.66
172 $147,747.66 $514.87 $0.00 $835.39 $149,097.92
173 $149,097.92 $514.87 $0.00 $843.02 $150,455.81
174 $150,455.81 $514.87 $0.00 $850.70 $151,821.38
175 $151,821.38 $514.87 $0.00 $858.42 $153,194.67
176 $153,194.67 $514.87 $0.00 $866.18 $154,575.72
177 $154,575.72 $514.87 $0.00 $873.99 $155,964.58
178 $155,964.58 $514.87 $0.00 $881.85 $157,361.30
179 $157,361.30 $514.87 $0.00 $889.74 $158,765.91
180 $158,765.91 $514.87 $0.00 $897.69 $160,178.47
181 $160,178.47 $514.87 $0.00 $905.67 $161,599.01
182 $161,599.01 $514.87 $0.00 $913.70 $163,027.58
183 $163,027.58 $514.87 $0.00 $921.78 $164,464.23
184 $164,464.23 $514.87 $0.00 $929.90 $165,909.00
185 $165,909.00 $514.87 $0.00 $938.07 $167,361.94
186 $167,361.94 $514.87 $0.00 $946.29 $168,823.10
187 $168,823.10 $514.87 $0.00 $954.55 $170,292.52
188 $170,292.52 $514.87 $0.00 $962.86 $171,770.25
189 $171,770.25 $514.87 $0.00 $971.21 $173,256.33
190 $173,256.33 $514.87 $0.00 $979.62 $174,750.82
191 $174,750.82 $514.87 $0.00 $988.07 $176,253.76
192 $176,253.76 $514.87 $0.00 $996.56 $177,765.19
193 $177,765.19 $514.87 $0.00 $1,005.11 $179,285.17
194 $179,285.17 $514.87 $0.00 $1,013.70 $180,813.74
195 $180,813.74 $514.87 $0.00 $1,022.35 $182,350.96
196 $182,350.96 $514.87 $0.00 $1,031.04 $183,896.87
197 $183,896.87 $514.87 $0.00 $1,039.78 $185,451.52
198 $185,451.52 $514.87 $0.00 $1,048.57 $187,014.96
199 $187,014.96 $514.87 $0.00 $1,057.41 $188,587.24
200 $188,587.24 $514.87 $0.00 $1,066.30 $190,168.41
201 $190,168.41 $514.87 $0.00 $1,075.24 $191,758.52
202 $191,758.52 $514.87 $0.00 $1,084.23 $193,357.62
203 $193,357.62 $514.87 $0.00 $1,093.27 $194,965.76
204 $194,965.76 $514.87 $0.00 $1,102.36 $196,582.99
205 $196,582.99 $514.87 $0.00 $1,111.51 $198,209.37
206 $198,209.37 $514.87 $0.00 $1,120.70 $199,844.94
207 $199,844.94 $514.87 $0.00 $1,129.95 $201,489.76
208 $201,489.76 $514.87 $0.00 $1,139.25 $203,143.88
209 $203,143.88 $514.87 $0.00 $1,148.61 $204,807.36
210 $204,807.36 $514.87 $0.00 $1,158.01 $206,480.24
211 $206,480.24 $514.87 $0.00 $1,167.47 $208,162.58
212 $208,162.58 $514.87 $0.00 $1,176.98 $209,854.43
213 $209,854.43 $514.87 $0.00 $1,186.55 $211,555.85
214 $211,555.85 $514.87 $0.00 $1,196.17 $213,266.89
215 $213,266.89 $514.87 $0.00 $1,205.84 $214,987.60
216 $214,987.60 $514.87 $0.00 $1,215.57 $216,718.04
217 $216,718.04 $514.87 $60,362.82 $1,225.36 $158,095.45
218 $158,095.45 $514.87 $0.00 $893.89 $159,504.21
219 $159,504.21 $514.87 $0.00 $901.86 $160,920.94
220 $160,920.94 $514.87 $0.00 $909.87 $162,345.68
221 $162,345.68 $514.87 $0.00 $917.93 $163,778.48
222 $163,778.48 $514.87 $0.00 $926.03 $165,219.38
223 $165,219.38 $514.87 $0.00 $934.17 $166,668.42
224 $166,668.42 $514.87 $0.00 $942.37 $168,125.66
225 $168,125.66 $514.87 $0.00 $950.61 $169,591.14
226 $169,591.14 $514.87 $0.00 $958.89 $171,064.90
227 $171,064.90 $514.87 $0.00 $967.23 $172,547.00
228 $172,547.00 $514.87 $0.00 $975.61 $174,037.48
229 $174,037.48 $514.87 $63,380.96 $984.03 $112,155.42
230 $112,155.42 $514.87 $0.00 $634.14 $113,304.43
231 $113,304.43 $514.87 $0.00 $640.64 $114,459.94
232 $114,459.94 $514.87 $0.00 $647.17 $115,621.98
233 $115,621.98 $514.87 $0.00 $653.74 $116,790.59
234 $116,790.59 $514.87 $0.00 $660.35 $117,965.81
235 $117,965.81 $514.87 $0.00 $667.00 $119,147.68
236 $119,147.68 $514.87 $0.00 $673.68 $120,336.23
237 $120,336.23 $514.87 $0.00 $680.40 $121,531.50
238 $121,531.50 $514.87 $0.00 $687.16 $122,733.53
239 $122,733.53 $514.87 $0.00 $693.95 $123,942.35
240 $123,942.35 $514.87 $0.00 $700.79 $125,158.01
241 $125,158.01 $514.87 $66,550.01 $707.66 $59,830.53
242 $59,830.53 $514.87 $0.00 $338.29 $60,683.69
243 $60,683.69 $514.87 $0.00 $343.11 $61,541.67
244 $61,541.67 $514.87 $0.00 $347.97 $62,404.51
245 $62,404.51 $514.87 $0.00 $352.84 $63,272.22
246 $63,272.22 $514.87 $0.00 $357.75 $64,144.84
247 $64,144.84 $514.87 $0.00 $362.68 $65,022.39
248 $65,022.39 $514.87 $0.00 $367.65 $65,904.91
249 $65,904.91 $514.87 $0.00 $372.64 $66,792.42
250 $66,792.42 $514.87 $0.00 $377.65 $67,684.94
251 $67,684.94 $514.87 $0.00 $382.70 $68,582.51
252 $68,582.51 $514.87 $0.00 $387.78 $69,485.16
253 $69,485.16 $0.00 $69,877.51 $392.88 $0.53