Savings Plan and Future Cost Estimation for Benedictine College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$124,396
Monthly savings required$985

How much will it cost to send your child to Benedictine College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $497,584.64 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $984.70 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$47,970.00
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 $984.70 $0.00 $0.00 $984.70
2 $984.70 $984.70 $0.00 $5.57 $1,974.97
3 $1,974.97 $984.70 $0.00 $11.17 $2,970.84
4 $2,970.84 $984.70 $0.00 $16.80 $3,972.34
5 $3,972.34 $984.70 $0.00 $22.46 $4,979.50
6 $4,979.50 $984.70 $0.00 $28.15 $5,992.35
7 $5,992.35 $984.70 $0.00 $33.88 $7,010.93
8 $7,010.93 $984.70 $0.00 $39.64 $8,035.27
9 $8,035.27 $984.70 $0.00 $45.43 $9,065.40
10 $9,065.40 $984.70 $0.00 $51.26 $10,101.36
11 $10,101.36 $984.70 $0.00 $57.11 $11,143.17
12 $11,143.17 $984.70 $0.00 $63.01 $12,190.88
13 $12,190.88 $984.70 $0.00 $68.93 $13,244.51
14 $13,244.51 $984.70 $0.00 $74.89 $14,304.10
15 $14,304.10 $984.70 $0.00 $80.88 $15,369.68
16 $15,369.68 $984.70 $0.00 $86.90 $16,441.28
17 $16,441.28 $984.70 $0.00 $92.96 $17,518.94
18 $17,518.94 $984.70 $0.00 $99.05 $18,602.69
19 $18,602.69 $984.70 $0.00 $105.18 $19,692.57
20 $19,692.57 $984.70 $0.00 $111.34 $20,788.61
21 $20,788.61 $984.70 $0.00 $117.54 $21,890.85
22 $21,890.85 $984.70 $0.00 $123.77 $22,999.32
23 $22,999.32 $984.70 $0.00 $130.04 $24,114.06
24 $24,114.06 $984.70 $0.00 $136.34 $25,235.10
25 $25,235.10 $984.70 $0.00 $142.68 $26,362.48
26 $26,362.48 $984.70 $0.00 $149.06 $27,496.24
27 $27,496.24 $984.70 $0.00 $155.47 $28,636.41
28 $28,636.41 $984.70 $0.00 $161.91 $29,783.02
29 $29,783.02 $984.70 $0.00 $168.40 $30,936.12
30 $30,936.12 $984.70 $0.00 $174.92 $32,095.74
31 $32,095.74 $984.70 $0.00 $181.47 $33,261.91
32 $33,261.91 $984.70 $0.00 $188.07 $34,434.68
33 $34,434.68 $984.70 $0.00 $194.70 $35,614.08
34 $35,614.08 $984.70 $0.00 $201.37 $36,800.15
35 $36,800.15 $984.70 $0.00 $208.07 $37,992.92
36 $37,992.92 $984.70 $0.00 $214.82 $39,192.44
37 $39,192.44 $984.70 $0.00 $221.60 $40,398.74
38 $40,398.74 $984.70 $0.00 $228.42 $41,611.86
39 $41,611.86 $984.70 $0.00 $235.28 $42,831.84
40 $42,831.84 $984.70 $0.00 $242.18 $44,058.72
41 $44,058.72 $984.70 $0.00 $249.11 $45,292.53
42 $45,292.53 $984.70 $0.00 $256.09 $46,533.32
43 $46,533.32 $984.70 $0.00 $263.11 $47,781.13
44 $47,781.13 $984.70 $0.00 $270.16 $49,035.99
45 $49,035.99 $984.70 $0.00 $277.26 $50,297.95
46 $50,297.95 $984.70 $0.00 $284.39 $51,567.04
47 $51,567.04 $984.70 $0.00 $291.57 $52,843.31
48 $52,843.31 $984.70 $0.00 $298.78 $54,126.79
49 $54,126.79 $984.70 $0.00 $306.04 $55,417.53
50 $55,417.53 $984.70 $0.00 $313.34 $56,715.57
51 $56,715.57 $984.70 $0.00 $320.68 $58,020.95
52 $58,020.95 $984.70 $0.00 $328.06 $59,333.71
53 $59,333.71 $984.70 $0.00 $335.48 $60,653.89
54 $60,653.89 $984.70 $0.00 $342.95 $61,981.54
55 $61,981.54 $984.70 $0.00 $350.45 $63,316.69
56 $63,316.69 $984.70 $0.00 $358.00 $64,659.39
57 $64,659.39 $984.70 $0.00 $365.59 $66,009.68
58 $66,009.68 $984.70 $0.00 $373.23 $67,367.61
59 $67,367.61 $984.70 $0.00 $380.91 $68,733.22
60 $68,733.22 $984.70 $0.00 $388.63 $70,106.55
61 $70,106.55 $984.70 $0.00 $396.39 $71,487.64
62 $71,487.64 $984.70 $0.00 $404.20 $72,876.54
63 $72,876.54 $984.70 $0.00 $412.05 $74,273.29
64 $74,273.29 $984.70 $0.00 $419.95 $75,677.94
65 $75,677.94 $984.70 $0.00 $427.89 $77,090.53
66 $77,090.53 $984.70 $0.00 $435.88 $78,511.11
67 $78,511.11 $984.70 $0.00 $443.91 $79,939.72
68 $79,939.72 $984.70 $0.00 $451.99 $81,376.41
69 $81,376.41 $984.70 $0.00 $460.11 $82,821.22
70 $82,821.22 $984.70 $0.00 $468.28 $84,274.20
71 $84,274.20 $984.70 $0.00 $476.50 $85,735.40
72 $85,735.40 $984.70 $0.00 $484.76 $87,204.86
73 $87,204.86 $984.70 $0.00 $493.07 $88,682.63
74 $88,682.63 $984.70 $0.00 $501.42 $90,168.75
75 $90,168.75 $984.70 $0.00 $509.83 $91,663.28
76 $91,663.28 $984.70 $0.00 $518.28 $93,166.26
77 $93,166.26 $984.70 $0.00 $526.78 $94,677.74
78 $94,677.74 $984.70 $0.00 $535.32 $96,197.76
79 $96,197.76 $984.70 $0.00 $543.92 $97,726.38
80 $97,726.38 $984.70 $0.00 $552.56 $99,263.64
81 $99,263.64 $984.70 $0.00 $561.25 $100,809.59
82 $100,809.59 $984.70 $0.00 $569.99 $102,364.28
83 $102,364.28 $984.70 $0.00 $578.78 $103,927.76
84 $103,927.76 $984.70 $0.00 $587.62 $105,500.08
85 $105,500.08 $984.70 $0.00 $596.51 $107,081.29
86 $107,081.29 $984.70 $0.00 $605.45 $108,671.44
87 $108,671.44 $984.70 $0.00 $614.44 $110,270.58
88 $110,270.58 $984.70 $0.00 $623.49 $111,878.77
89 $111,878.77 $984.70 $0.00 $632.58 $113,496.05
90 $113,496.05 $984.70 $0.00 $641.72 $115,122.47
91 $115,122.47 $984.70 $0.00 $650.92 $116,758.09
92 $116,758.09 $984.70 $0.00 $660.17 $118,402.96
93 $118,402.96 $984.70 $0.00 $669.47 $120,057.13
94 $120,057.13 $984.70 $0.00 $678.82 $121,720.65
95 $121,720.65 $984.70 $0.00 $688.23 $123,393.58
96 $123,393.58 $984.70 $0.00 $697.69 $125,075.97
97 $125,075.97 $984.70 $0.00 $707.20 $126,767.87
98 $126,767.87 $984.70 $0.00 $716.76 $128,469.33
99 $128,469.33 $984.70 $0.00 $726.38 $130,180.41
100 $130,180.41 $984.70 $0.00 $736.06 $131,901.17
101 $131,901.17 $984.70 $0.00 $745.79 $133,631.66
102 $133,631.66 $984.70 $0.00 $755.57 $135,371.93
103 $135,371.93 $984.70 $0.00 $765.41 $137,122.04
104 $137,122.04 $984.70 $0.00 $775.31 $138,882.05
105 $138,882.05 $984.70 $0.00 $785.26 $140,652.01
106 $140,652.01 $984.70 $0.00 $795.27 $142,431.98
107 $142,431.98 $984.70 $0.00 $805.33 $144,222.01
108 $144,222.01 $984.70 $0.00 $815.45 $146,022.16
109 $146,022.16 $984.70 $0.00 $825.63 $147,832.49
110 $147,832.49 $984.70 $0.00 $835.87 $149,653.06
111 $149,653.06 $984.70 $0.00 $846.16 $151,483.92
112 $151,483.92 $984.70 $0.00 $856.51 $153,325.13
113 $153,325.13 $984.70 $0.00 $866.92 $155,176.75
114 $155,176.75 $984.70 $0.00 $877.39 $157,038.84
115 $157,038.84 $984.70 $0.00 $887.92 $158,911.46
116 $158,911.46 $984.70 $0.00 $898.51 $160,794.67
117 $160,794.67 $984.70 $0.00 $909.16 $162,688.53
118 $162,688.53 $984.70 $0.00 $919.86 $164,593.09
119 $164,593.09 $984.70 $0.00 $930.63 $166,508.42
120 $166,508.42 $984.70 $0.00 $941.46 $168,434.58
121 $168,434.58 $984.70 $0.00 $952.35 $170,371.63
122 $170,371.63 $984.70 $0.00 $963.31 $172,319.64
123 $172,319.64 $984.70 $0.00 $974.32 $174,278.66
124 $174,278.66 $984.70 $0.00 $985.40 $176,248.76
125 $176,248.76 $984.70 $0.00 $996.54 $178,230.00
126 $178,230.00 $984.70 $0.00 $1,007.74 $180,222.44
127 $180,222.44 $984.70 $0.00 $1,019.00 $182,226.14
128 $182,226.14 $984.70 $0.00 $1,030.33 $184,241.17
129 $184,241.17 $984.70 $0.00 $1,041.73 $186,267.60
130 $186,267.60 $984.70 $0.00 $1,053.18 $188,305.48
131 $188,305.48 $984.70 $0.00 $1,064.71 $190,354.89
132 $190,354.89 $984.70 $0.00 $1,076.29 $192,415.88
133 $192,415.88 $984.70 $0.00 $1,087.95 $194,488.53
134 $194,488.53 $984.70 $0.00 $1,099.67 $196,572.90
135 $196,572.90 $984.70 $0.00 $1,111.45 $198,669.05
136 $198,669.05 $984.70 $0.00 $1,123.30 $200,777.05
137 $200,777.05 $984.70 $0.00 $1,135.22 $202,896.97
138 $202,896.97 $984.70 $0.00 $1,147.21 $205,028.88
139 $205,028.88 $984.70 $0.00 $1,159.26 $207,172.84
140 $207,172.84 $984.70 $0.00 $1,171.39 $209,328.93
141 $209,328.93 $984.70 $0.00 $1,183.58 $211,497.21
142 $211,497.21 $984.70 $0.00 $1,195.84 $213,677.75
143 $213,677.75 $984.70 $0.00 $1,208.17 $215,870.62
144 $215,870.62 $984.70 $0.00 $1,220.56 $218,075.88
145 $218,075.88 $984.70 $0.00 $1,233.03 $220,293.61
146 $220,293.61 $984.70 $0.00 $1,245.57 $222,523.88
147 $222,523.88 $984.70 $0.00 $1,258.18 $224,766.76
148 $224,766.76 $984.70 $0.00 $1,270.86 $227,022.32
149 $227,022.32 $984.70 $0.00 $1,283.62 $229,290.64
150 $229,290.64 $984.70 $0.00 $1,296.44 $231,571.78
151 $231,571.78 $984.70 $0.00 $1,309.34 $233,865.82
152 $233,865.82 $984.70 $0.00 $1,322.31 $236,172.83
153 $236,172.83 $984.70 $0.00 $1,335.36 $238,492.89
154 $238,492.89 $984.70 $0.00 $1,348.47 $240,826.06
155 $240,826.06 $984.70 $0.00 $1,361.67 $243,172.43
156 $243,172.43 $984.70 $0.00 $1,374.93 $245,532.06
157 $245,532.06 $984.70 $0.00 $1,388.27 $247,905.03
158 $247,905.03 $984.70 $0.00 $1,401.69 $250,291.42
159 $250,291.42 $984.70 $0.00 $1,415.18 $252,691.30
160 $252,691.30 $984.70 $0.00 $1,428.75 $255,104.75
161 $255,104.75 $984.70 $0.00 $1,442.40 $257,531.85
162 $257,531.85 $984.70 $0.00 $1,456.12 $259,972.67
163 $259,972.67 $984.70 $0.00 $1,469.92 $262,427.29
164 $262,427.29 $984.70 $0.00 $1,483.80 $264,895.79
165 $264,895.79 $984.70 $0.00 $1,497.76 $267,378.25
166 $267,378.25 $984.70 $0.00 $1,511.80 $269,874.75
167 $269,874.75 $984.70 $0.00 $1,525.91 $272,385.36
168 $272,385.36 $984.70 $0.00 $1,540.11 $274,910.17
169 $274,910.17 $984.70 $0.00 $1,554.38 $277,449.25
170 $277,449.25 $984.70 $0.00 $1,568.74 $280,002.69
171 $280,002.69 $984.70 $0.00 $1,583.18 $282,570.57
172 $282,570.57 $984.70 $0.00 $1,597.70 $285,152.97
173 $285,152.97 $984.70 $0.00 $1,612.30 $287,749.97
174 $287,749.97 $984.70 $0.00 $1,626.98 $290,361.65
175 $290,361.65 $984.70 $0.00 $1,641.75 $292,988.10
176 $292,988.10 $984.70 $0.00 $1,656.60 $295,629.40
177 $295,629.40 $984.70 $0.00 $1,671.53 $298,285.63
178 $298,285.63 $984.70 $0.00 $1,686.55 $300,956.88
179 $300,956.88 $984.70 $0.00 $1,701.65 $303,643.23
180 $303,643.23 $984.70 $0.00 $1,716.84 $306,344.77
181 $306,344.77 $984.70 $0.00 $1,732.12 $309,061.59
182 $309,061.59 $984.70 $0.00 $1,747.48 $311,793.77
183 $311,793.77 $984.70 $0.00 $1,762.93 $314,541.40
184 $314,541.40 $984.70 $0.00 $1,778.46 $317,304.56
185 $317,304.56 $984.70 $0.00 $1,794.09 $320,083.35
186 $320,083.35 $984.70 $0.00 $1,809.80 $322,877.85
187 $322,877.85 $984.70 $0.00 $1,825.60 $325,688.15
188 $325,688.15 $984.70 $0.00 $1,841.49 $328,514.34
189 $328,514.34 $984.70 $0.00 $1,857.47 $331,356.51
190 $331,356.51 $984.70 $0.00 $1,873.54 $334,214.75
191 $334,214.75 $984.70 $0.00 $1,889.70 $337,089.15
192 $337,089.15 $984.70 $0.00 $1,905.95 $339,979.80
193 $339,979.80 $984.70 $0.00 $1,922.30 $342,886.80
194 $342,886.80 $984.70 $0.00 $1,938.73 $345,810.23
195 $345,810.23 $984.70 $0.00 $1,955.26 $348,750.19
196 $348,750.19 $984.70 $0.00 $1,971.88 $351,706.77
197 $351,706.77 $984.70 $0.00 $1,988.60 $354,680.07
198 $354,680.07 $984.70 $0.00 $2,005.41 $357,670.18
199 $357,670.18 $984.70 $0.00 $2,022.32 $360,677.20
200 $360,677.20 $984.70 $0.00 $2,039.32 $363,701.22
201 $363,701.22 $984.70 $0.00 $2,056.42 $366,742.34
202 $366,742.34 $984.70 $0.00 $2,073.61 $369,800.65
203 $369,800.65 $984.70 $0.00 $2,090.91 $372,876.26
204 $372,876.26 $984.70 $0.00 $2,108.30 $375,969.26
205 $375,969.26 $984.70 $0.00 $2,125.78 $379,079.74
206 $379,079.74 $984.70 $0.00 $2,143.37 $382,207.81
207 $382,207.81 $984.70 $0.00 $2,161.06 $385,353.57
208 $385,353.57 $984.70 $0.00 $2,178.85 $388,517.12
209 $388,517.12 $984.70 $0.00 $2,196.73 $391,698.55
210 $391,698.55 $984.70 $0.00 $2,214.72 $394,897.97
211 $394,897.97 $984.70 $0.00 $2,232.81 $398,115.48
212 $398,115.48 $984.70 $0.00 $2,251.00 $401,351.18
213 $401,351.18 $984.70 $0.00 $2,269.30 $404,605.18
214 $404,605.18 $984.70 $0.00 $2,287.70 $407,877.58
215 $407,877.58 $984.70 $0.00 $2,306.20 $411,168.48
216 $411,168.48 $984.70 $0.00 $2,324.81 $414,477.99
217 $414,477.99 $984.70 $115,445.52 $2,343.52 $302,360.69
218 $302,360.69 $984.70 $0.00 $1,709.59 $305,054.98
219 $305,054.98 $984.70 $0.00 $1,724.83 $307,764.51
220 $307,764.51 $984.70 $0.00 $1,740.15 $310,489.36
221 $310,489.36 $984.70 $0.00 $1,755.55 $313,229.61
222 $313,229.61 $984.70 $0.00 $1,771.05 $315,985.36
223 $315,985.36 $984.70 $0.00 $1,786.63 $318,756.69
224 $318,756.69 $984.70 $0.00 $1,802.30 $321,543.69
225 $321,543.69 $984.70 $0.00 $1,818.05 $324,346.44
226 $324,346.44 $984.70 $0.00 $1,833.90 $327,165.04
227 $327,165.04 $984.70 $0.00 $1,849.84 $329,999.58
228 $329,999.58 $984.70 $0.00 $1,865.87 $332,850.15
229 $332,850.15 $984.70 $121,217.80 $1,881.98 $214,499.03
230 $214,499.03 $984.70 $0.00 $1,212.81 $216,696.54
231 $216,696.54 $984.70 $0.00 $1,225.23 $218,906.47
232 $218,906.47 $984.70 $0.00 $1,237.73 $221,128.90
233 $221,128.90 $984.70 $0.00 $1,250.29 $223,363.89
234 $223,363.89 $984.70 $0.00 $1,262.93 $225,611.52
235 $225,611.52 $984.70 $0.00 $1,275.64 $227,871.86
236 $227,871.86 $984.70 $0.00 $1,288.42 $230,144.98
237 $230,144.98 $984.70 $0.00 $1,301.27 $232,430.95
238 $232,430.95 $984.70 $0.00 $1,314.20 $234,729.85
239 $234,729.85 $984.70 $0.00 $1,327.20 $237,041.75
240 $237,041.75 $984.70 $0.00 $1,340.27 $239,366.72
241 $239,366.72 $984.70 $127,278.69 $1,353.41 $114,426.14
242 $114,426.14 $984.70 $0.00 $646.98 $116,057.82
243 $116,057.82 $984.70 $0.00 $656.21 $117,698.73
244 $117,698.73 $984.70 $0.00 $665.49 $119,348.92
245 $119,348.92 $984.70 $0.00 $674.82 $121,008.44
246 $121,008.44 $984.70 $0.00 $684.20 $122,677.34
247 $122,677.34 $984.70 $0.00 $693.64 $124,355.68
248 $124,355.68 $984.70 $0.00 $703.13 $126,043.51
249 $126,043.51 $984.70 $0.00 $712.67 $127,740.88
250 $127,740.88 $984.70 $0.00 $722.27 $129,447.85
251 $129,447.85 $984.70 $0.00 $731.92 $131,164.47
252 $131,164.47 $984.70 $0.00 $741.62 $132,890.79
253 $132,890.79 $0.00 $133,642.63 $751.38 ($0.46)