Savings Plan and Future Cost Estimation for Taylor University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$131,214
Monthly savings required$1,039

How much will it cost to send your child to Taylor University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $524,854.81 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,038.67 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$50,599.00
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 $1,038.67 $0.00 $0.00 $1,038.67
2 $1,038.67 $1,038.67 $0.00 $5.87 $2,083.21
3 $2,083.21 $1,038.67 $0.00 $11.78 $3,133.66
4 $3,133.66 $1,038.67 $0.00 $17.72 $4,190.05
5 $4,190.05 $1,038.67 $0.00 $23.69 $5,252.41
6 $5,252.41 $1,038.67 $0.00 $29.70 $6,320.78
7 $6,320.78 $1,038.67 $0.00 $35.74 $7,395.19
8 $7,395.19 $1,038.67 $0.00 $41.81 $8,475.67
9 $8,475.67 $1,038.67 $0.00 $47.92 $9,562.26
10 $9,562.26 $1,038.67 $0.00 $54.07 $10,655.00
11 $10,655.00 $1,038.67 $0.00 $60.24 $11,753.91
12 $11,753.91 $1,038.67 $0.00 $66.46 $12,859.04
13 $12,859.04 $1,038.67 $0.00 $72.71 $13,970.42
14 $13,970.42 $1,038.67 $0.00 $78.99 $15,088.08
15 $15,088.08 $1,038.67 $0.00 $85.31 $16,212.06
16 $16,212.06 $1,038.67 $0.00 $91.67 $17,342.40
17 $17,342.40 $1,038.67 $0.00 $98.06 $18,479.13
18 $18,479.13 $1,038.67 $0.00 $104.48 $19,622.28
19 $19,622.28 $1,038.67 $0.00 $110.95 $20,771.90
20 $20,771.90 $1,038.67 $0.00 $117.45 $21,928.02
21 $21,928.02 $1,038.67 $0.00 $123.98 $23,090.67
22 $23,090.67 $1,038.67 $0.00 $130.56 $24,259.90
23 $24,259.90 $1,038.67 $0.00 $137.17 $25,435.74
24 $25,435.74 $1,038.67 $0.00 $143.82 $26,618.23
25 $26,618.23 $1,038.67 $0.00 $150.50 $27,807.40
26 $27,807.40 $1,038.67 $0.00 $157.23 $29,003.30
27 $29,003.30 $1,038.67 $0.00 $163.99 $30,205.96
28 $30,205.96 $1,038.67 $0.00 $170.79 $31,415.42
29 $31,415.42 $1,038.67 $0.00 $177.63 $32,631.72
30 $32,631.72 $1,038.67 $0.00 $184.50 $33,854.89
31 $33,854.89 $1,038.67 $0.00 $191.42 $35,084.98
32 $35,084.98 $1,038.67 $0.00 $198.38 $36,322.03
33 $36,322.03 $1,038.67 $0.00 $205.37 $37,566.07
34 $37,566.07 $1,038.67 $0.00 $212.40 $38,817.14
35 $38,817.14 $1,038.67 $0.00 $219.48 $40,075.29
36 $40,075.29 $1,038.67 $0.00 $226.59 $41,340.55
37 $41,340.55 $1,038.67 $0.00 $233.75 $42,612.97
38 $42,612.97 $1,038.67 $0.00 $240.94 $43,892.58
39 $43,892.58 $1,038.67 $0.00 $248.18 $45,179.43
40 $45,179.43 $1,038.67 $0.00 $255.45 $46,473.55
41 $46,473.55 $1,038.67 $0.00 $262.77 $47,774.99
42 $47,774.99 $1,038.67 $0.00 $270.13 $49,083.79
43 $49,083.79 $1,038.67 $0.00 $277.53 $50,399.99
44 $50,399.99 $1,038.67 $0.00 $284.97 $51,723.63
45 $51,723.63 $1,038.67 $0.00 $292.45 $53,054.75
46 $53,054.75 $1,038.67 $0.00 $299.98 $54,393.40
47 $54,393.40 $1,038.67 $0.00 $307.55 $55,739.62
48 $55,739.62 $1,038.67 $0.00 $315.16 $57,093.45
49 $57,093.45 $1,038.67 $0.00 $322.81 $58,454.93
50 $58,454.93 $1,038.67 $0.00 $330.51 $59,824.11
51 $59,824.11 $1,038.67 $0.00 $338.25 $61,201.03
52 $61,201.03 $1,038.67 $0.00 $346.04 $62,585.74
53 $62,585.74 $1,038.67 $0.00 $353.87 $63,978.28
54 $63,978.28 $1,038.67 $0.00 $361.74 $65,378.69
55 $65,378.69 $1,038.67 $0.00 $369.66 $66,787.02
56 $66,787.02 $1,038.67 $0.00 $377.62 $68,203.31
57 $68,203.31 $1,038.67 $0.00 $385.63 $69,627.61
58 $69,627.61 $1,038.67 $0.00 $393.68 $71,059.96
59 $71,059.96 $1,038.67 $0.00 $401.78 $72,500.41
60 $72,500.41 $1,038.67 $0.00 $409.93 $73,949.01
61 $73,949.01 $1,038.67 $0.00 $418.12 $75,405.80
62 $75,405.80 $1,038.67 $0.00 $426.36 $76,870.83
63 $76,870.83 $1,038.67 $0.00 $434.64 $78,344.14
64 $78,344.14 $1,038.67 $0.00 $442.97 $79,825.78
65 $79,825.78 $1,038.67 $0.00 $451.35 $81,315.80
66 $81,315.80 $1,038.67 $0.00 $459.77 $82,814.24
67 $82,814.24 $1,038.67 $0.00 $468.24 $84,321.15
68 $84,321.15 $1,038.67 $0.00 $476.76 $85,836.58
69 $85,836.58 $1,038.67 $0.00 $485.33 $87,360.58
70 $87,360.58 $1,038.67 $0.00 $493.95 $88,893.20
71 $88,893.20 $1,038.67 $0.00 $502.62 $90,434.49
72 $90,434.49 $1,038.67 $0.00 $511.33 $91,984.49
73 $91,984.49 $1,038.67 $0.00 $520.09 $93,543.25
74 $93,543.25 $1,038.67 $0.00 $528.91 $95,110.83
75 $95,110.83 $1,038.67 $0.00 $537.77 $96,687.27
76 $96,687.27 $1,038.67 $0.00 $546.68 $98,272.62
77 $98,272.62 $1,038.67 $0.00 $555.65 $99,866.94
78 $99,866.94 $1,038.67 $0.00 $564.66 $101,470.27
79 $101,470.27 $1,038.67 $0.00 $573.73 $103,082.67
80 $103,082.67 $1,038.67 $0.00 $582.84 $104,704.18
81 $104,704.18 $1,038.67 $0.00 $592.01 $106,334.86
82 $106,334.86 $1,038.67 $0.00 $601.23 $107,974.76
83 $107,974.76 $1,038.67 $0.00 $610.50 $109,623.93
84 $109,623.93 $1,038.67 $0.00 $619.83 $111,282.43
85 $111,282.43 $1,038.67 $0.00 $629.21 $112,950.31
86 $112,950.31 $1,038.67 $0.00 $638.64 $114,627.62
87 $114,627.62 $1,038.67 $0.00 $648.12 $116,314.41
88 $116,314.41 $1,038.67 $0.00 $657.66 $118,010.74
89 $118,010.74 $1,038.67 $0.00 $667.25 $119,716.66
90 $119,716.66 $1,038.67 $0.00 $676.90 $121,432.23
91 $121,432.23 $1,038.67 $0.00 $686.60 $123,157.50
92 $123,157.50 $1,038.67 $0.00 $696.35 $124,892.52
93 $124,892.52 $1,038.67 $0.00 $706.16 $126,637.35
94 $126,637.35 $1,038.67 $0.00 $716.03 $128,392.05
95 $128,392.05 $1,038.67 $0.00 $725.95 $130,156.67
96 $130,156.67 $1,038.67 $0.00 $735.92 $131,931.26
97 $131,931.26 $1,038.67 $0.00 $745.96 $133,715.89
98 $133,715.89 $1,038.67 $0.00 $756.05 $135,510.61
99 $135,510.61 $1,038.67 $0.00 $766.20 $137,315.48
100 $137,315.48 $1,038.67 $0.00 $776.40 $139,130.55
101 $139,130.55 $1,038.67 $0.00 $786.66 $140,955.88
102 $140,955.88 $1,038.67 $0.00 $796.99 $142,791.54
103 $142,791.54 $1,038.67 $0.00 $807.36 $144,637.57
104 $144,637.57 $1,038.67 $0.00 $817.80 $146,494.04
105 $146,494.04 $1,038.67 $0.00 $828.30 $148,361.01
106 $148,361.01 $1,038.67 $0.00 $838.85 $150,238.53
107 $150,238.53 $1,038.67 $0.00 $849.47 $152,126.67
108 $152,126.67 $1,038.67 $0.00 $860.15 $154,025.49
109 $154,025.49 $1,038.67 $0.00 $870.88 $155,935.04
110 $155,935.04 $1,038.67 $0.00 $881.68 $157,855.39
111 $157,855.39 $1,038.67 $0.00 $892.54 $159,786.60
112 $159,786.60 $1,038.67 $0.00 $903.46 $161,728.73
113 $161,728.73 $1,038.67 $0.00 $914.44 $163,681.84
114 $163,681.84 $1,038.67 $0.00 $925.48 $165,645.99
115 $165,645.99 $1,038.67 $0.00 $936.59 $167,621.25
116 $167,621.25 $1,038.67 $0.00 $947.75 $169,607.67
117 $169,607.67 $1,038.67 $0.00 $958.99 $171,605.33
118 $171,605.33 $1,038.67 $0.00 $970.28 $173,614.28
119 $173,614.28 $1,038.67 $0.00 $981.64 $175,634.59
120 $175,634.59 $1,038.67 $0.00 $993.06 $177,666.32
121 $177,666.32 $1,038.67 $0.00 $1,004.55 $179,709.54
122 $179,709.54 $1,038.67 $0.00 $1,016.10 $181,764.31
123 $181,764.31 $1,038.67 $0.00 $1,027.72 $183,830.70
124 $183,830.70 $1,038.67 $0.00 $1,039.41 $185,908.78
125 $185,908.78 $1,038.67 $0.00 $1,051.16 $187,998.61
126 $187,998.61 $1,038.67 $0.00 $1,062.97 $190,100.25
127 $190,100.25 $1,038.67 $0.00 $1,074.85 $192,213.77
128 $192,213.77 $1,038.67 $0.00 $1,086.80 $194,339.24
129 $194,339.24 $1,038.67 $0.00 $1,098.82 $196,476.73
130 $196,476.73 $1,038.67 $0.00 $1,110.91 $198,626.31
131 $198,626.31 $1,038.67 $0.00 $1,123.06 $200,788.04
132 $200,788.04 $1,038.67 $0.00 $1,135.28 $202,961.99
133 $202,961.99 $1,038.67 $0.00 $1,147.58 $205,148.24
134 $205,148.24 $1,038.67 $0.00 $1,159.94 $207,346.85
135 $207,346.85 $1,038.67 $0.00 $1,172.37 $209,557.89
136 $209,557.89 $1,038.67 $0.00 $1,184.87 $211,781.43
137 $211,781.43 $1,038.67 $0.00 $1,197.44 $214,017.54
138 $214,017.54 $1,038.67 $0.00 $1,210.09 $216,266.30
139 $216,266.30 $1,038.67 $0.00 $1,222.80 $218,527.77
140 $218,527.77 $1,038.67 $0.00 $1,235.59 $220,802.03
141 $220,802.03 $1,038.67 $0.00 $1,248.45 $223,089.15
142 $223,089.15 $1,038.67 $0.00 $1,261.38 $225,389.20
143 $225,389.20 $1,038.67 $0.00 $1,274.38 $227,702.25
144 $227,702.25 $1,038.67 $0.00 $1,287.46 $230,028.38
145 $230,028.38 $1,038.67 $0.00 $1,300.61 $232,367.66
146 $232,367.66 $1,038.67 $0.00 $1,313.84 $234,720.17
147 $234,720.17 $1,038.67 $0.00 $1,327.14 $237,085.98
148 $237,085.98 $1,038.67 $0.00 $1,340.52 $239,465.17
149 $239,465.17 $1,038.67 $0.00 $1,353.97 $241,857.81
150 $241,857.81 $1,038.67 $0.00 $1,367.50 $244,263.98
151 $244,263.98 $1,038.67 $0.00 $1,381.10 $246,683.75
152 $246,683.75 $1,038.67 $0.00 $1,394.79 $249,117.21
153 $249,117.21 $1,038.67 $0.00 $1,408.54 $251,564.42
154 $251,564.42 $1,038.67 $0.00 $1,422.38 $254,025.47
155 $254,025.47 $1,038.67 $0.00 $1,436.30 $256,500.44
156 $256,500.44 $1,038.67 $0.00 $1,450.29 $258,989.40
157 $258,989.40 $1,038.67 $0.00 $1,464.36 $261,492.43
158 $261,492.43 $1,038.67 $0.00 $1,478.52 $264,009.62
159 $264,009.62 $1,038.67 $0.00 $1,492.75 $266,541.04
160 $266,541.04 $1,038.67 $0.00 $1,507.06 $269,086.77
161 $269,086.77 $1,038.67 $0.00 $1,521.46 $271,646.90
162 $271,646.90 $1,038.67 $0.00 $1,535.93 $274,221.50
163 $274,221.50 $1,038.67 $0.00 $1,550.49 $276,810.66
164 $276,810.66 $1,038.67 $0.00 $1,565.13 $279,414.46
165 $279,414.46 $1,038.67 $0.00 $1,579.85 $282,032.98
166 $282,032.98 $1,038.67 $0.00 $1,594.66 $284,666.31
167 $284,666.31 $1,038.67 $0.00 $1,609.54 $287,314.52
168 $287,314.52 $1,038.67 $0.00 $1,624.52 $289,977.71
169 $289,977.71 $1,038.67 $0.00 $1,639.58 $292,655.96
170 $292,655.96 $1,038.67 $0.00 $1,654.72 $295,349.35
171 $295,349.35 $1,038.67 $0.00 $1,669.95 $298,057.97
172 $298,057.97 $1,038.67 $0.00 $1,685.26 $300,781.90
173 $300,781.90 $1,038.67 $0.00 $1,700.66 $303,521.23
174 $303,521.23 $1,038.67 $0.00 $1,716.15 $306,276.05
175 $306,276.05 $1,038.67 $0.00 $1,731.73 $309,046.45
176 $309,046.45 $1,038.67 $0.00 $1,747.39 $311,832.51
177 $311,832.51 $1,038.67 $0.00 $1,763.15 $314,634.33
178 $314,634.33 $1,038.67 $0.00 $1,778.99 $317,451.99
179 $317,451.99 $1,038.67 $0.00 $1,794.92 $320,285.58
180 $320,285.58 $1,038.67 $0.00 $1,810.94 $323,135.19
181 $323,135.19 $1,038.67 $0.00 $1,827.05 $326,000.91
182 $326,000.91 $1,038.67 $0.00 $1,843.26 $328,882.84
183 $328,882.84 $1,038.67 $0.00 $1,859.55 $331,781.06
184 $331,781.06 $1,038.67 $0.00 $1,875.94 $334,695.67
185 $334,695.67 $1,038.67 $0.00 $1,892.42 $337,626.76
186 $337,626.76 $1,038.67 $0.00 $1,908.99 $340,574.42
187 $340,574.42 $1,038.67 $0.00 $1,925.66 $343,538.75
188 $343,538.75 $1,038.67 $0.00 $1,942.42 $346,519.84
189 $346,519.84 $1,038.67 $0.00 $1,959.27 $349,517.78
190 $349,517.78 $1,038.67 $0.00 $1,976.22 $352,532.67
191 $352,532.67 $1,038.67 $0.00 $1,993.27 $355,564.61
192 $355,564.61 $1,038.67 $0.00 $2,010.41 $358,613.69
193 $358,613.69 $1,038.67 $0.00 $2,027.65 $361,680.01
194 $361,680.01 $1,038.67 $0.00 $2,044.99 $364,763.67
195 $364,763.67 $1,038.67 $0.00 $2,062.43 $367,864.77
196 $367,864.77 $1,038.67 $0.00 $2,079.96 $370,983.40
197 $370,983.40 $1,038.67 $0.00 $2,097.59 $374,119.66
198 $374,119.66 $1,038.67 $0.00 $2,115.33 $377,273.66
199 $377,273.66 $1,038.67 $0.00 $2,133.16 $380,445.49
200 $380,445.49 $1,038.67 $0.00 $2,151.09 $383,635.25
201 $383,635.25 $1,038.67 $0.00 $2,169.13 $386,843.05
202 $386,843.05 $1,038.67 $0.00 $2,187.27 $390,068.99
203 $390,068.99 $1,038.67 $0.00 $2,205.51 $393,313.17
204 $393,313.17 $1,038.67 $0.00 $2,223.85 $396,575.69
205 $396,575.69 $1,038.67 $0.00 $2,242.30 $399,856.66
206 $399,856.66 $1,038.67 $0.00 $2,260.85 $403,156.18
207 $403,156.18 $1,038.67 $0.00 $2,279.50 $406,474.35
208 $406,474.35 $1,038.67 $0.00 $2,298.27 $409,811.29
209 $409,811.29 $1,038.67 $0.00 $2,317.13 $413,167.09
210 $413,167.09 $1,038.67 $0.00 $2,336.11 $416,541.87
211 $416,541.87 $1,038.67 $0.00 $2,355.19 $419,935.73
212 $419,935.73 $1,038.67 $0.00 $2,374.38 $423,348.78
213 $423,348.78 $1,038.67 $0.00 $2,393.68 $426,781.13
214 $426,781.13 $1,038.67 $0.00 $2,413.08 $430,232.88
215 $430,232.88 $1,038.67 $0.00 $2,432.60 $433,704.15
216 $433,704.15 $1,038.67 $0.00 $2,452.23 $437,195.05
217 $437,195.05 $1,038.67 $121,772.53 $2,471.96 $318,933.15
218 $318,933.15 $1,038.67 $0.00 $1,803.29 $321,775.11
219 $321,775.11 $1,038.67 $0.00 $1,819.36 $324,633.14
220 $324,633.14 $1,038.67 $0.00 $1,835.52 $327,507.33
221 $327,507.33 $1,038.67 $0.00 $1,851.77 $330,397.77
222 $330,397.77 $1,038.67 $0.00 $1,868.12 $333,304.56
223 $333,304.56 $1,038.67 $0.00 $1,884.55 $336,227.78
224 $336,227.78 $1,038.67 $0.00 $1,901.08 $339,167.53
225 $339,167.53 $1,038.67 $0.00 $1,917.70 $342,123.90
226 $342,123.90 $1,038.67 $0.00 $1,934.42 $345,096.99
227 $345,096.99 $1,038.67 $0.00 $1,951.23 $348,086.89
228 $348,086.89 $1,038.67 $0.00 $1,968.13 $351,093.69
229 $351,093.69 $1,038.67 $127,861.15 $1,985.13 $226,256.34
230 $226,256.34 $1,038.67 $0.00 $1,279.29 $228,574.30
231 $228,574.30 $1,038.67 $0.00 $1,292.39 $230,905.36
232 $230,905.36 $1,038.67 $0.00 $1,305.57 $233,249.60
233 $233,249.60 $1,038.67 $0.00 $1,318.83 $235,607.10
234 $235,607.10 $1,038.67 $0.00 $1,332.16 $237,977.93
235 $237,977.93 $1,038.67 $0.00 $1,345.56 $240,362.16
236 $240,362.16 $1,038.67 $0.00 $1,359.04 $242,759.87
237 $242,759.87 $1,038.67 $0.00 $1,372.60 $245,171.14
238 $245,171.14 $1,038.67 $0.00 $1,386.23 $247,596.04
239 $247,596.04 $1,038.67 $0.00 $1,399.94 $250,034.65
240 $250,034.65 $1,038.67 $0.00 $1,413.73 $252,487.05
241 $252,487.05 $1,038.67 $134,254.21 $1,427.60 $120,699.11
242 $120,699.11 $1,038.67 $0.00 $682.45 $122,420.23
243 $122,420.23 $1,038.67 $0.00 $692.18 $124,151.08
244 $124,151.08 $1,038.67 $0.00 $701.97 $125,891.72
245 $125,891.72 $1,038.67 $0.00 $711.81 $127,642.20
246 $127,642.20 $1,038.67 $0.00 $721.71 $129,402.58
247 $129,402.58 $1,038.67 $0.00 $731.66 $131,172.91
248 $131,172.91 $1,038.67 $0.00 $741.67 $132,953.25
249 $132,953.25 $1,038.67 $0.00 $751.74 $134,743.66
250 $134,743.66 $1,038.67 $0.00 $761.86 $136,544.19
251 $136,544.19 $1,038.67 $0.00 $772.04 $138,354.90
252 $138,354.90 $1,038.67 $0.00 $782.28 $140,175.85
253 $140,175.85 $0.00 $140,966.92 $792.57 $1.50