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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$97,920
Monthly savings required$775

How much will it cost to send your child to Indiana Wesleyan University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $391,678.05 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $775.11 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$37,760.00
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 $775.11 $0.00 $0.00 $775.11
2 $775.11 $775.11 $0.00 $4.38 $1,554.60
3 $1,554.60 $775.11 $0.00 $8.79 $2,338.50
4 $2,338.50 $775.11 $0.00 $13.22 $3,126.83
5 $3,126.83 $775.11 $0.00 $17.68 $3,919.62
6 $3,919.62 $775.11 $0.00 $22.16 $4,716.89
7 $4,716.89 $775.11 $0.00 $26.67 $5,518.67
8 $5,518.67 $775.11 $0.00 $31.20 $6,324.98
9 $6,324.98 $775.11 $0.00 $35.76 $7,135.85
10 $7,135.85 $775.11 $0.00 $40.35 $7,951.31
11 $7,951.31 $775.11 $0.00 $44.96 $8,771.38
12 $8,771.38 $775.11 $0.00 $49.59 $9,596.08
13 $9,596.08 $775.11 $0.00 $54.26 $10,425.45
14 $10,425.45 $775.11 $0.00 $58.95 $11,259.51
15 $11,259.51 $775.11 $0.00 $63.66 $12,098.28
16 $12,098.28 $775.11 $0.00 $68.41 $12,941.80
17 $12,941.80 $775.11 $0.00 $73.17 $13,790.08
18 $13,790.08 $775.11 $0.00 $77.97 $14,643.16
19 $14,643.16 $775.11 $0.00 $82.79 $15,501.06
20 $15,501.06 $775.11 $0.00 $87.65 $16,363.82
21 $16,363.82 $775.11 $0.00 $92.52 $17,231.45
22 $17,231.45 $775.11 $0.00 $97.43 $18,103.99
23 $18,103.99 $775.11 $0.00 $102.36 $18,981.46
24 $18,981.46 $775.11 $0.00 $107.32 $19,863.89
25 $19,863.89 $775.11 $0.00 $112.31 $20,751.31
26 $20,751.31 $775.11 $0.00 $117.33 $21,643.75
27 $21,643.75 $775.11 $0.00 $122.38 $22,541.24
28 $22,541.24 $775.11 $0.00 $127.45 $23,443.80
29 $23,443.80 $775.11 $0.00 $132.55 $24,351.46
30 $24,351.46 $775.11 $0.00 $137.69 $25,264.26
31 $25,264.26 $775.11 $0.00 $142.85 $26,182.22
32 $26,182.22 $775.11 $0.00 $148.04 $27,105.37
33 $27,105.37 $775.11 $0.00 $153.26 $28,033.74
34 $28,033.74 $775.11 $0.00 $158.51 $28,967.36
35 $28,967.36 $775.11 $0.00 $163.79 $29,906.26
36 $29,906.26 $775.11 $0.00 $169.09 $30,850.46
37 $30,850.46 $775.11 $0.00 $174.43 $31,800.00
38 $31,800.00 $775.11 $0.00 $179.80 $32,754.91
39 $32,754.91 $775.11 $0.00 $185.20 $33,715.22
40 $33,715.22 $775.11 $0.00 $190.63 $34,680.96
41 $34,680.96 $775.11 $0.00 $196.09 $35,652.16
42 $35,652.16 $775.11 $0.00 $201.58 $36,628.85
43 $36,628.85 $775.11 $0.00 $207.10 $37,611.06
44 $37,611.06 $775.11 $0.00 $212.66 $38,598.83
45 $38,598.83 $775.11 $0.00 $218.24 $39,592.18
46 $39,592.18 $775.11 $0.00 $223.86 $40,591.15
47 $40,591.15 $775.11 $0.00 $229.51 $41,595.77
48 $41,595.77 $775.11 $0.00 $235.19 $42,606.07
49 $42,606.07 $775.11 $0.00 $240.90 $43,622.08
50 $43,622.08 $775.11 $0.00 $246.65 $44,643.84
51 $44,643.84 $775.11 $0.00 $252.42 $45,671.37
52 $45,671.37 $775.11 $0.00 $258.23 $46,704.71
53 $46,704.71 $775.11 $0.00 $264.08 $47,743.90
54 $47,743.90 $775.11 $0.00 $269.95 $48,788.96
55 $48,788.96 $775.11 $0.00 $275.86 $49,839.93
56 $49,839.93 $775.11 $0.00 $281.80 $50,896.84
57 $50,896.84 $775.11 $0.00 $287.78 $51,959.73
58 $51,959.73 $775.11 $0.00 $293.79 $53,028.63
59 $53,028.63 $775.11 $0.00 $299.83 $54,103.57
60 $54,103.57 $775.11 $0.00 $305.91 $55,184.59
61 $55,184.59 $775.11 $0.00 $312.02 $56,271.72
62 $56,271.72 $775.11 $0.00 $318.17 $57,365.00
63 $57,365.00 $775.11 $0.00 $324.35 $58,464.46
64 $58,464.46 $775.11 $0.00 $330.57 $59,570.14
65 $59,570.14 $775.11 $0.00 $336.82 $60,682.07
66 $60,682.07 $775.11 $0.00 $343.11 $61,800.29
67 $61,800.29 $775.11 $0.00 $349.43 $62,924.83
68 $62,924.83 $775.11 $0.00 $355.79 $64,055.73
69 $64,055.73 $775.11 $0.00 $362.18 $65,193.02
70 $65,193.02 $775.11 $0.00 $368.61 $66,336.74
71 $66,336.74 $775.11 $0.00 $375.08 $67,486.93
72 $67,486.93 $775.11 $0.00 $381.58 $68,643.62
73 $68,643.62 $775.11 $0.00 $388.12 $69,806.85
74 $69,806.85 $775.11 $0.00 $394.70 $70,976.66
75 $70,976.66 $775.11 $0.00 $401.31 $72,153.08
76 $72,153.08 $775.11 $0.00 $407.96 $73,336.15
77 $73,336.15 $775.11 $0.00 $414.65 $74,525.91
78 $74,525.91 $775.11 $0.00 $421.38 $75,722.40
79 $75,722.40 $775.11 $0.00 $428.15 $76,925.66
80 $76,925.66 $775.11 $0.00 $434.95 $78,135.72
81 $78,135.72 $775.11 $0.00 $441.79 $79,352.62
82 $79,352.62 $775.11 $0.00 $448.67 $80,576.40
83 $80,576.40 $775.11 $0.00 $455.59 $81,807.10
84 $81,807.10 $775.11 $0.00 $462.55 $83,044.76
85 $83,044.76 $775.11 $0.00 $469.55 $84,289.42
86 $84,289.42 $775.11 $0.00 $476.58 $85,541.11
87 $85,541.11 $775.11 $0.00 $483.66 $86,799.88
88 $86,799.88 $775.11 $0.00 $490.78 $88,065.77
89 $88,065.77 $775.11 $0.00 $497.94 $89,338.82
90 $89,338.82 $775.11 $0.00 $505.13 $90,619.06
91 $90,619.06 $775.11 $0.00 $512.37 $91,906.54
92 $91,906.54 $775.11 $0.00 $519.65 $93,201.30
93 $93,201.30 $775.11 $0.00 $526.97 $94,503.38
94 $94,503.38 $775.11 $0.00 $534.34 $95,812.83
95 $95,812.83 $775.11 $0.00 $541.74 $97,129.68
96 $97,129.68 $775.11 $0.00 $549.19 $98,453.98
97 $98,453.98 $775.11 $0.00 $556.67 $99,785.76
98 $99,785.76 $775.11 $0.00 $564.20 $101,125.07
99 $101,125.07 $775.11 $0.00 $571.78 $102,471.96
100 $102,471.96 $775.11 $0.00 $579.39 $103,826.46
101 $103,826.46 $775.11 $0.00 $587.05 $105,188.62
102 $105,188.62 $775.11 $0.00 $594.75 $106,558.48
103 $106,558.48 $775.11 $0.00 $602.50 $107,936.09
104 $107,936.09 $775.11 $0.00 $610.29 $109,321.49
105 $109,321.49 $775.11 $0.00 $618.12 $110,714.72
106 $110,714.72 $775.11 $0.00 $626.00 $112,115.83
107 $112,115.83 $775.11 $0.00 $633.92 $113,524.86
108 $113,524.86 $775.11 $0.00 $641.89 $114,941.86
109 $114,941.86 $775.11 $0.00 $649.90 $116,366.87
110 $116,366.87 $775.11 $0.00 $657.96 $117,799.94
111 $117,799.94 $775.11 $0.00 $666.06 $119,241.11
112 $119,241.11 $775.11 $0.00 $674.21 $120,690.43
113 $120,690.43 $775.11 $0.00 $682.40 $122,147.94
114 $122,147.94 $775.11 $0.00 $690.64 $123,613.69
115 $123,613.69 $775.11 $0.00 $698.93 $125,087.73
116 $125,087.73 $775.11 $0.00 $707.26 $126,570.10
117 $126,570.10 $775.11 $0.00 $715.65 $128,060.86
118 $128,060.86 $775.11 $0.00 $724.07 $129,560.04
119 $129,560.04 $775.11 $0.00 $732.55 $131,067.70
120 $131,067.70 $775.11 $0.00 $741.08 $132,583.89
121 $132,583.89 $775.11 $0.00 $749.65 $134,108.65
122 $134,108.65 $775.11 $0.00 $758.27 $135,642.03
123 $135,642.03 $775.11 $0.00 $766.94 $137,184.08
124 $137,184.08 $775.11 $0.00 $775.66 $138,734.85
125 $138,734.85 $775.11 $0.00 $784.43 $140,294.39
126 $140,294.39 $775.11 $0.00 $793.24 $141,862.74
127 $141,862.74 $775.11 $0.00 $802.11 $143,439.96
128 $143,439.96 $775.11 $0.00 $811.03 $145,026.10
129 $145,026.10 $775.11 $0.00 $820.00 $146,621.21
130 $146,621.21 $775.11 $0.00 $829.02 $148,225.34
131 $148,225.34 $775.11 $0.00 $838.09 $149,838.54
132 $149,838.54 $775.11 $0.00 $847.21 $151,460.86
133 $151,460.86 $775.11 $0.00 $856.38 $153,092.35
134 $153,092.35 $775.11 $0.00 $865.61 $154,733.07
135 $154,733.07 $775.11 $0.00 $874.88 $156,383.06
136 $156,383.06 $775.11 $0.00 $884.21 $158,042.38
137 $158,042.38 $775.11 $0.00 $893.59 $159,711.08
138 $159,711.08 $775.11 $0.00 $903.03 $161,389.22
139 $161,389.22 $775.11 $0.00 $912.52 $163,076.85
140 $163,076.85 $775.11 $0.00 $922.06 $164,774.02
141 $164,774.02 $775.11 $0.00 $931.66 $166,480.79
142 $166,480.79 $775.11 $0.00 $941.31 $168,197.21
143 $168,197.21 $775.11 $0.00 $951.01 $169,923.33
144 $169,923.33 $775.11 $0.00 $960.77 $171,659.21
145 $171,659.21 $775.11 $0.00 $970.59 $173,404.91
146 $173,404.91 $775.11 $0.00 $980.46 $175,160.48
147 $175,160.48 $775.11 $0.00 $990.38 $176,925.97
148 $176,925.97 $775.11 $0.00 $1,000.37 $178,701.45
149 $178,701.45 $775.11 $0.00 $1,010.40 $180,486.96
150 $180,486.96 $775.11 $0.00 $1,020.50 $182,282.57
151 $182,282.57 $775.11 $0.00 $1,030.65 $184,088.33
152 $184,088.33 $775.11 $0.00 $1,040.86 $185,904.30
153 $185,904.30 $775.11 $0.00 $1,051.13 $187,730.54
154 $187,730.54 $775.11 $0.00 $1,061.46 $189,567.11
155 $189,567.11 $775.11 $0.00 $1,071.84 $191,414.06
156 $191,414.06 $775.11 $0.00 $1,082.28 $193,271.45
157 $193,271.45 $775.11 $0.00 $1,092.78 $195,139.34
158 $195,139.34 $775.11 $0.00 $1,103.35 $197,017.80
159 $197,017.80 $775.11 $0.00 $1,113.97 $198,906.88
160 $198,906.88 $775.11 $0.00 $1,124.65 $200,806.64
161 $200,806.64 $775.11 $0.00 $1,135.39 $202,717.14
162 $202,717.14 $775.11 $0.00 $1,146.19 $204,638.44
163 $204,638.44 $775.11 $0.00 $1,157.06 $206,570.61
164 $206,570.61 $775.11 $0.00 $1,167.98 $208,513.70
165 $208,513.70 $775.11 $0.00 $1,178.97 $210,467.78
166 $210,467.78 $775.11 $0.00 $1,190.02 $212,432.91
167 $212,432.91 $775.11 $0.00 $1,201.13 $214,409.15
168 $214,409.15 $775.11 $0.00 $1,212.30 $216,396.56
169 $216,396.56 $775.11 $0.00 $1,223.54 $218,395.21
170 $218,395.21 $775.11 $0.00 $1,234.84 $220,405.16
171 $220,405.16 $775.11 $0.00 $1,246.20 $222,426.47
172 $222,426.47 $775.11 $0.00 $1,257.63 $224,459.21
173 $224,459.21 $775.11 $0.00 $1,269.13 $226,503.45
174 $226,503.45 $775.11 $0.00 $1,280.68 $228,559.24
175 $228,559.24 $775.11 $0.00 $1,292.31 $230,626.66
176 $230,626.66 $775.11 $0.00 $1,304.00 $232,705.77
177 $232,705.77 $775.11 $0.00 $1,315.75 $234,796.63
178 $234,796.63 $775.11 $0.00 $1,327.57 $236,899.31
179 $236,899.31 $775.11 $0.00 $1,339.46 $239,013.88
180 $239,013.88 $775.11 $0.00 $1,351.42 $241,140.41
181 $241,140.41 $775.11 $0.00 $1,363.44 $243,278.96
182 $243,278.96 $775.11 $0.00 $1,375.53 $245,429.60
183 $245,429.60 $775.11 $0.00 $1,387.69 $247,592.40
184 $247,592.40 $775.11 $0.00 $1,399.92 $249,767.43
185 $249,767.43 $775.11 $0.00 $1,412.22 $251,954.76
186 $251,954.76 $775.11 $0.00 $1,424.59 $254,154.46
187 $254,154.46 $775.11 $0.00 $1,437.03 $256,366.60
188 $256,366.60 $775.11 $0.00 $1,449.53 $258,591.24
189 $258,591.24 $775.11 $0.00 $1,462.11 $260,828.46
190 $260,828.46 $775.11 $0.00 $1,474.76 $263,078.33
191 $263,078.33 $775.11 $0.00 $1,487.48 $265,340.92
192 $265,340.92 $775.11 $0.00 $1,500.28 $267,616.31
193 $267,616.31 $775.11 $0.00 $1,513.14 $269,904.56
194 $269,904.56 $775.11 $0.00 $1,526.08 $272,205.75
195 $272,205.75 $775.11 $0.00 $1,539.09 $274,519.95
196 $274,519.95 $775.11 $0.00 $1,552.18 $276,847.24
197 $276,847.24 $775.11 $0.00 $1,565.33 $279,187.68
198 $279,187.68 $775.11 $0.00 $1,578.57 $281,541.36
199 $281,541.36 $775.11 $0.00 $1,591.88 $283,908.35
200 $283,908.35 $775.11 $0.00 $1,605.26 $286,288.72
201 $286,288.72 $775.11 $0.00 $1,618.72 $288,682.55
202 $288,682.55 $775.11 $0.00 $1,632.25 $291,089.91
203 $291,089.91 $775.11 $0.00 $1,645.86 $293,510.88
204 $293,510.88 $775.11 $0.00 $1,659.55 $295,945.54
205 $295,945.54 $775.11 $0.00 $1,673.32 $298,393.97
206 $298,393.97 $775.11 $0.00 $1,687.16 $300,856.24
207 $300,856.24 $775.11 $0.00 $1,701.08 $303,332.43
208 $303,332.43 $775.11 $0.00 $1,715.09 $305,822.63
209 $305,822.63 $775.11 $0.00 $1,729.17 $308,326.91
210 $308,326.91 $775.11 $0.00 $1,743.33 $310,845.35
211 $310,845.35 $775.11 $0.00 $1,757.56 $313,378.02
212 $313,378.02 $775.11 $0.00 $1,771.88 $315,925.01
213 $315,925.01 $775.11 $0.00 $1,786.29 $318,486.41
214 $318,486.41 $775.11 $0.00 $1,800.77 $321,062.29
215 $321,062.29 $775.11 $0.00 $1,815.33 $323,652.73
216 $323,652.73 $775.11 $0.00 $1,829.98 $326,257.82
217 $326,257.82 $775.11 $90,873.94 $1,844.71 $238,003.70
218 $238,003.70 $775.11 $0.00 $1,345.71 $240,124.52
219 $240,124.52 $775.11 $0.00 $1,357.70 $242,257.33
220 $242,257.33 $775.11 $0.00 $1,369.76 $244,402.20
221 $244,402.20 $775.11 $0.00 $1,381.89 $246,559.20
222 $246,559.20 $775.11 $0.00 $1,394.08 $248,728.39
223 $248,728.39 $775.11 $0.00 $1,406.35 $250,909.85
224 $250,909.85 $775.11 $0.00 $1,418.68 $253,103.64
225 $253,103.64 $775.11 $0.00 $1,431.08 $255,309.83
226 $255,309.83 $775.11 $0.00 $1,443.56 $257,528.50
227 $257,528.50 $775.11 $0.00 $1,456.10 $259,759.71
228 $259,759.71 $775.11 $0.00 $1,468.72 $262,003.54
229 $262,003.54 $775.11 $95,417.64 $1,481.41 $168,842.42
230 $168,842.42 $775.11 $0.00 $954.66 $170,572.19
231 $170,572.19 $775.11 $0.00 $964.44 $172,311.74
232 $172,311.74 $775.11 $0.00 $974.28 $174,061.13
233 $174,061.13 $775.11 $0.00 $984.17 $175,820.41
234 $175,820.41 $775.11 $0.00 $994.11 $177,589.63
235 $177,589.63 $775.11 $0.00 $1,004.12 $179,368.86
236 $179,368.86 $775.11 $0.00 $1,014.18 $181,158.15
237 $181,158.15 $775.11 $0.00 $1,024.29 $182,957.55
238 $182,957.55 $775.11 $0.00 $1,034.47 $184,767.13
239 $184,767.13 $775.11 $0.00 $1,044.70 $186,586.94
240 $186,586.94 $775.11 $0.00 $1,054.99 $188,417.04
241 $188,417.04 $775.11 $100,188.52 $1,065.34 $90,068.97
242 $90,068.97 $775.11 $0.00 $509.26 $91,353.34
243 $91,353.34 $775.11 $0.00 $516.53 $92,644.98
244 $92,644.98 $775.11 $0.00 $523.83 $93,943.92
245 $93,943.92 $775.11 $0.00 $531.17 $95,250.20
246 $95,250.20 $775.11 $0.00 $538.56 $96,563.87
247 $96,563.87 $775.11 $0.00 $545.99 $97,884.97
248 $97,884.97 $775.11 $0.00 $553.46 $99,213.54
249 $99,213.54 $775.11 $0.00 $560.97 $100,549.62
250 $100,549.62 $775.11 $0.00 $568.52 $101,893.25
251 $101,893.25 $775.11 $0.00 $576.12 $103,244.48
252 $103,244.48 $775.11 $0.00 $583.76 $104,603.35
253 $104,603.35 $0.00 $105,197.95 $591.44 ($3.16)