Savings Plan and Future Cost Estimation for Friends University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$171,872
Monthly savings required$1,358

How much will it cost to send your child to Friends University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $687,487.24 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,358.35 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$45,812.00
Years until enrollment18
Annual Tuition Increase7%
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 $1,358.35 $0.00 $0.00 $1,358.35
2 $1,358.35 $1,358.35 $0.00 $7.68 $2,724.38
3 $2,724.38 $1,358.35 $0.00 $15.40 $4,098.13
4 $4,098.13 $1,358.35 $0.00 $23.17 $5,479.65
5 $5,479.65 $1,358.35 $0.00 $30.98 $6,868.98
6 $6,868.98 $1,358.35 $0.00 $38.84 $8,266.17
7 $8,266.17 $1,358.35 $0.00 $46.74 $9,671.26
8 $9,671.26 $1,358.35 $0.00 $54.68 $11,084.29
9 $11,084.29 $1,358.35 $0.00 $62.67 $12,505.31
10 $12,505.31 $1,358.35 $0.00 $70.71 $13,934.37
11 $13,934.37 $1,358.35 $0.00 $78.79 $15,371.51
12 $15,371.51 $1,358.35 $0.00 $86.91 $16,816.77
13 $16,816.77 $1,358.35 $0.00 $95.08 $18,270.20
14 $18,270.20 $1,358.35 $0.00 $103.30 $19,731.85
15 $19,731.85 $1,358.35 $0.00 $111.57 $21,201.77
16 $21,201.77 $1,358.35 $0.00 $119.88 $22,680.00
17 $22,680.00 $1,358.35 $0.00 $128.24 $24,166.59
18 $24,166.59 $1,358.35 $0.00 $136.64 $25,661.58
19 $25,661.58 $1,358.35 $0.00 $145.09 $27,165.02
20 $27,165.02 $1,358.35 $0.00 $153.59 $28,676.96
21 $28,676.96 $1,358.35 $0.00 $162.14 $30,197.45
22 $30,197.45 $1,358.35 $0.00 $170.74 $31,726.54
23 $31,726.54 $1,358.35 $0.00 $179.39 $33,264.28
24 $33,264.28 $1,358.35 $0.00 $188.08 $34,810.71
25 $34,810.71 $1,358.35 $0.00 $196.82 $36,365.88
26 $36,365.88 $1,358.35 $0.00 $205.62 $37,929.85
27 $37,929.85 $1,358.35 $0.00 $214.46 $39,502.66
28 $39,502.66 $1,358.35 $0.00 $223.35 $41,084.36
29 $41,084.36 $1,358.35 $0.00 $232.30 $42,675.01
30 $42,675.01 $1,358.35 $0.00 $241.29 $44,274.65
31 $44,274.65 $1,358.35 $0.00 $250.34 $45,883.34
32 $45,883.34 $1,358.35 $0.00 $259.43 $47,501.12
33 $47,501.12 $1,358.35 $0.00 $268.58 $49,128.05
34 $49,128.05 $1,358.35 $0.00 $277.78 $50,764.18
35 $50,764.18 $1,358.35 $0.00 $287.03 $52,409.56
36 $52,409.56 $1,358.35 $0.00 $296.33 $54,064.24
37 $54,064.24 $1,358.35 $0.00 $305.69 $55,728.28
38 $55,728.28 $1,358.35 $0.00 $315.10 $57,401.73
39 $57,401.73 $1,358.35 $0.00 $324.56 $59,084.64
40 $59,084.64 $1,358.35 $0.00 $334.07 $60,777.06
41 $60,777.06 $1,358.35 $0.00 $343.64 $62,479.05
42 $62,479.05 $1,358.35 $0.00 $353.27 $64,190.67
43 $64,190.67 $1,358.35 $0.00 $362.94 $65,911.96
44 $65,911.96 $1,358.35 $0.00 $372.68 $67,642.99
45 $67,642.99 $1,358.35 $0.00 $382.46 $69,383.80
46 $69,383.80 $1,358.35 $0.00 $392.31 $71,134.46
47 $71,134.46 $1,358.35 $0.00 $402.20 $72,895.01
48 $72,895.01 $1,358.35 $0.00 $412.16 $74,665.52
49 $74,665.52 $1,358.35 $0.00 $422.17 $76,446.04
50 $76,446.04 $1,358.35 $0.00 $432.24 $78,236.63
51 $78,236.63 $1,358.35 $0.00 $442.36 $80,037.34
52 $80,037.34 $1,358.35 $0.00 $452.54 $81,848.23
53 $81,848.23 $1,358.35 $0.00 $462.78 $83,669.36
54 $83,669.36 $1,358.35 $0.00 $473.08 $85,500.79
55 $85,500.79 $1,358.35 $0.00 $483.43 $87,342.57
56 $87,342.57 $1,358.35 $0.00 $493.85 $89,194.77
57 $89,194.77 $1,358.35 $0.00 $504.32 $91,057.44
58 $91,057.44 $1,358.35 $0.00 $514.85 $92,930.64
59 $92,930.64 $1,358.35 $0.00 $525.44 $94,814.43
60 $94,814.43 $1,358.35 $0.00 $536.09 $96,708.87
61 $96,708.87 $1,358.35 $0.00 $546.81 $98,614.03
62 $98,614.03 $1,358.35 $0.00 $557.58 $100,529.96
63 $100,529.96 $1,358.35 $0.00 $568.41 $102,456.72
64 $102,456.72 $1,358.35 $0.00 $579.31 $104,394.38
65 $104,394.38 $1,358.35 $0.00 $590.26 $106,342.99
66 $106,342.99 $1,358.35 $0.00 $601.28 $108,302.62
67 $108,302.62 $1,358.35 $0.00 $612.36 $110,273.33
68 $110,273.33 $1,358.35 $0.00 $623.50 $112,255.18
69 $112,255.18 $1,358.35 $0.00 $634.71 $114,248.24
70 $114,248.24 $1,358.35 $0.00 $645.98 $116,252.57
71 $116,252.57 $1,358.35 $0.00 $657.31 $118,268.23
72 $118,268.23 $1,358.35 $0.00 $668.71 $120,295.29
73 $120,295.29 $1,358.35 $0.00 $680.17 $122,333.81
74 $122,333.81 $1,358.35 $0.00 $691.69 $124,383.85
75 $124,383.85 $1,358.35 $0.00 $703.28 $126,445.48
76 $126,445.48 $1,358.35 $0.00 $714.94 $128,518.77
77 $128,518.77 $1,358.35 $0.00 $726.66 $130,603.78
78 $130,603.78 $1,358.35 $0.00 $738.45 $132,700.58
79 $132,700.58 $1,358.35 $0.00 $750.31 $134,809.24
80 $134,809.24 $1,358.35 $0.00 $762.23 $136,929.82
81 $136,929.82 $1,358.35 $0.00 $774.22 $139,062.39
82 $139,062.39 $1,358.35 $0.00 $786.28 $141,207.02
83 $141,207.02 $1,358.35 $0.00 $798.41 $143,363.78
84 $143,363.78 $1,358.35 $0.00 $810.60 $145,532.73
85 $145,532.73 $1,358.35 $0.00 $822.86 $147,713.94
86 $147,713.94 $1,358.35 $0.00 $835.20 $149,907.49
87 $149,907.49 $1,358.35 $0.00 $847.60 $152,113.44
88 $152,113.44 $1,358.35 $0.00 $860.07 $154,331.86
89 $154,331.86 $1,358.35 $0.00 $872.61 $156,562.82
90 $156,562.82 $1,358.35 $0.00 $885.23 $158,806.40
91 $158,806.40 $1,358.35 $0.00 $897.91 $161,062.66
92 $161,062.66 $1,358.35 $0.00 $910.67 $163,331.68
93 $163,331.68 $1,358.35 $0.00 $923.50 $165,613.53
94 $165,613.53 $1,358.35 $0.00 $936.40 $167,908.28
95 $167,908.28 $1,358.35 $0.00 $949.38 $170,216.01
96 $170,216.01 $1,358.35 $0.00 $962.43 $172,536.79
97 $172,536.79 $1,358.35 $0.00 $975.55 $174,870.69
98 $174,870.69 $1,358.35 $0.00 $988.74 $177,217.78
99 $177,217.78 $1,358.35 $0.00 $1,002.02 $179,578.15
100 $179,578.15 $1,358.35 $0.00 $1,015.36 $181,951.86
101 $181,951.86 $1,358.35 $0.00 $1,028.78 $184,338.99
102 $184,338.99 $1,358.35 $0.00 $1,042.28 $186,739.62
103 $186,739.62 $1,358.35 $0.00 $1,055.85 $189,153.82
104 $189,153.82 $1,358.35 $0.00 $1,069.50 $191,581.67
105 $191,581.67 $1,358.35 $0.00 $1,083.23 $194,023.25
106 $194,023.25 $1,358.35 $0.00 $1,097.04 $196,478.64
107 $196,478.64 $1,358.35 $0.00 $1,110.92 $198,947.91
108 $198,947.91 $1,358.35 $0.00 $1,124.88 $201,431.14
109 $201,431.14 $1,358.35 $0.00 $1,138.92 $203,928.41
110 $203,928.41 $1,358.35 $0.00 $1,153.04 $206,439.80
111 $206,439.80 $1,358.35 $0.00 $1,167.24 $208,965.39
112 $208,965.39 $1,358.35 $0.00 $1,181.52 $211,505.26
113 $211,505.26 $1,358.35 $0.00 $1,195.88 $214,059.49
114 $214,059.49 $1,358.35 $0.00 $1,210.32 $216,628.16
115 $216,628.16 $1,358.35 $0.00 $1,224.85 $219,211.36
116 $219,211.36 $1,358.35 $0.00 $1,239.45 $221,809.16
117 $221,809.16 $1,358.35 $0.00 $1,254.14 $224,421.65
118 $224,421.65 $1,358.35 $0.00 $1,268.91 $227,048.91
119 $227,048.91 $1,358.35 $0.00 $1,283.77 $229,691.03
120 $229,691.03 $1,358.35 $0.00 $1,298.71 $232,348.09
121 $232,348.09 $1,358.35 $0.00 $1,313.73 $235,020.17
122 $235,020.17 $1,358.35 $0.00 $1,328.84 $237,707.36
123 $237,707.36 $1,358.35 $0.00 $1,344.03 $240,409.74
124 $240,409.74 $1,358.35 $0.00 $1,359.31 $243,127.40
125 $243,127.40 $1,358.35 $0.00 $1,374.68 $245,860.43
126 $245,860.43 $1,358.35 $0.00 $1,390.13 $248,608.91
127 $248,608.91 $1,358.35 $0.00 $1,405.67 $251,372.93
128 $251,372.93 $1,358.35 $0.00 $1,421.30 $254,152.58
129 $254,152.58 $1,358.35 $0.00 $1,437.02 $256,947.95
130 $256,947.95 $1,358.35 $0.00 $1,452.82 $259,759.12
131 $259,759.12 $1,358.35 $0.00 $1,468.72 $262,586.19
132 $262,586.19 $1,358.35 $0.00 $1,484.70 $265,429.24
133 $265,429.24 $1,358.35 $0.00 $1,500.78 $268,288.37
134 $268,288.37 $1,358.35 $0.00 $1,516.94 $271,163.66
135 $271,163.66 $1,358.35 $0.00 $1,533.20 $274,055.21
136 $274,055.21 $1,358.35 $0.00 $1,549.55 $276,963.11
137 $276,963.11 $1,358.35 $0.00 $1,565.99 $279,887.45
138 $279,887.45 $1,358.35 $0.00 $1,582.52 $282,828.32
139 $282,828.32 $1,358.35 $0.00 $1,599.15 $285,785.82
140 $285,785.82 $1,358.35 $0.00 $1,615.87 $288,760.04
141 $288,760.04 $1,358.35 $0.00 $1,632.69 $291,751.08
142 $291,751.08 $1,358.35 $0.00 $1,649.60 $294,759.03
143 $294,759.03 $1,358.35 $0.00 $1,666.61 $297,783.99
144 $297,783.99 $1,358.35 $0.00 $1,683.71 $300,826.05
145 $300,826.05 $1,358.35 $0.00 $1,700.91 $303,885.31
146 $303,885.31 $1,358.35 $0.00 $1,718.21 $306,961.87
147 $306,961.87 $1,358.35 $0.00 $1,735.61 $310,055.83
148 $310,055.83 $1,358.35 $0.00 $1,753.10 $313,167.28
149 $313,167.28 $1,358.35 $0.00 $1,770.69 $316,296.32
150 $316,296.32 $1,358.35 $0.00 $1,788.39 $319,443.06
151 $319,443.06 $1,358.35 $0.00 $1,806.18 $322,607.59
152 $322,607.59 $1,358.35 $0.00 $1,824.07 $325,790.01
153 $325,790.01 $1,358.35 $0.00 $1,842.06 $328,990.42
154 $328,990.42 $1,358.35 $0.00 $1,860.16 $332,208.93
155 $332,208.93 $1,358.35 $0.00 $1,878.36 $335,445.64
156 $335,445.64 $1,358.35 $0.00 $1,896.66 $338,700.65
157 $338,700.65 $1,358.35 $0.00 $1,915.06 $341,974.06
158 $341,974.06 $1,358.35 $0.00 $1,933.57 $345,265.98
159 $345,265.98 $1,358.35 $0.00 $1,952.18 $348,576.51
160 $348,576.51 $1,358.35 $0.00 $1,970.90 $351,905.76
161 $351,905.76 $1,358.35 $0.00 $1,989.73 $355,253.84
162 $355,253.84 $1,358.35 $0.00 $2,008.66 $358,620.85
163 $358,620.85 $1,358.35 $0.00 $2,027.69 $362,006.89
164 $362,006.89 $1,358.35 $0.00 $2,046.84 $365,412.08
165 $365,412.08 $1,358.35 $0.00 $2,066.09 $368,836.52
166 $368,836.52 $1,358.35 $0.00 $2,085.46 $372,280.33
167 $372,280.33 $1,358.35 $0.00 $2,104.93 $375,743.61
168 $375,743.61 $1,358.35 $0.00 $2,124.51 $379,226.47
169 $379,226.47 $1,358.35 $0.00 $2,144.20 $382,729.02
170 $382,729.02 $1,358.35 $0.00 $2,164.01 $386,251.38
171 $386,251.38 $1,358.35 $0.00 $2,183.92 $389,793.65
172 $389,793.65 $1,358.35 $0.00 $2,203.95 $393,355.95
173 $393,355.95 $1,358.35 $0.00 $2,224.09 $396,938.39
174 $396,938.39 $1,358.35 $0.00 $2,244.35 $400,541.09
175 $400,541.09 $1,358.35 $0.00 $2,264.72 $404,164.16
176 $404,164.16 $1,358.35 $0.00 $2,285.20 $407,807.71
177 $407,807.71 $1,358.35 $0.00 $2,305.80 $411,471.86
178 $411,471.86 $1,358.35 $0.00 $2,326.52 $415,156.73
179 $415,156.73 $1,358.35 $0.00 $2,347.36 $418,862.44
180 $418,862.44 $1,358.35 $0.00 $2,368.31 $422,589.10
181 $422,589.10 $1,358.35 $0.00 $2,389.38 $426,336.83
182 $426,336.83 $1,358.35 $0.00 $2,410.57 $430,105.75
183 $430,105.75 $1,358.35 $0.00 $2,431.88 $433,895.98
184 $433,895.98 $1,358.35 $0.00 $2,453.31 $437,707.64
185 $437,707.64 $1,358.35 $0.00 $2,474.86 $441,540.85
186 $441,540.85 $1,358.35 $0.00 $2,496.54 $445,395.74
187 $445,395.74 $1,358.35 $0.00 $2,518.33 $449,272.42
188 $449,272.42 $1,358.35 $0.00 $2,540.25 $453,171.02
189 $453,171.02 $1,358.35 $0.00 $2,562.29 $457,091.66
190 $457,091.66 $1,358.35 $0.00 $2,584.46 $461,034.47
191 $461,034.47 $1,358.35 $0.00 $2,606.76 $464,999.58
192 $464,999.58 $1,358.35 $0.00 $2,629.18 $468,987.11
193 $468,987.11 $1,358.35 $0.00 $2,651.72 $472,997.18
194 $472,997.18 $1,358.35 $0.00 $2,674.39 $477,029.92
195 $477,029.92 $1,358.35 $0.00 $2,697.20 $481,085.47
196 $481,085.47 $1,358.35 $0.00 $2,720.13 $485,163.95
197 $485,163.95 $1,358.35 $0.00 $2,743.19 $489,265.49
198 $489,265.49 $1,358.35 $0.00 $2,766.38 $493,390.22
199 $493,390.22 $1,358.35 $0.00 $2,789.70 $497,538.27
200 $497,538.27 $1,358.35 $0.00 $2,813.15 $501,709.77
201 $501,709.77 $1,358.35 $0.00 $2,836.74 $505,904.86
202 $505,904.86 $1,358.35 $0.00 $2,860.46 $510,123.67
203 $510,123.67 $1,358.35 $0.00 $2,884.31 $514,366.33
204 $514,366.33 $1,358.35 $0.00 $2,908.30 $518,632.98
205 $518,632.98 $1,358.35 $0.00 $2,932.43 $522,923.76
206 $522,923.76 $1,358.35 $0.00 $2,956.69 $527,238.80
207 $527,238.80 $1,358.35 $0.00 $2,981.08 $531,578.23
208 $531,578.23 $1,358.35 $0.00 $3,005.62 $535,942.20
209 $535,942.20 $1,358.35 $0.00 $3,030.30 $540,330.85
210 $540,330.85 $1,358.35 $0.00 $3,055.11 $544,744.31
211 $544,744.31 $1,358.35 $0.00 $3,080.06 $549,182.72
212 $549,182.72 $1,358.35 $0.00 $3,105.16 $553,646.23
213 $553,646.23 $1,358.35 $0.00 $3,130.40 $558,134.98
214 $558,134.98 $1,358.35 $0.00 $3,155.78 $562,649.11
215 $562,649.11 $1,358.35 $0.00 $3,181.30 $567,188.76
216 $567,188.76 $1,358.35 $0.00 $3,206.97 $571,754.08
217 $571,754.08 $1,358.35 $154,841.46 $3,232.78 $421,503.75
218 $421,503.75 $1,358.35 $0.00 $2,383.24 $425,245.34
219 $425,245.34 $1,358.35 $0.00 $2,404.40 $429,008.09
220 $429,008.09 $1,358.35 $0.00 $2,425.67 $432,792.11
221 $432,792.11 $1,358.35 $0.00 $2,447.07 $436,597.53
222 $436,597.53 $1,358.35 $0.00 $2,468.59 $440,424.47
223 $440,424.47 $1,358.35 $0.00 $2,490.22 $444,273.04
224 $444,273.04 $1,358.35 $0.00 $2,511.98 $448,143.37
225 $448,143.37 $1,358.35 $0.00 $2,533.87 $452,035.59
226 $452,035.59 $1,358.35 $0.00 $2,555.87 $455,949.81
227 $455,949.81 $1,358.35 $0.00 $2,578.01 $459,886.17
228 $459,886.17 $1,358.35 $0.00 $2,600.26 $463,844.78
229 $463,844.78 $1,358.35 $165,680.36 $2,622.65 $302,145.42
230 $302,145.42 $1,358.35 $0.00 $1,708.37 $305,212.14
231 $305,212.14 $1,358.35 $0.00 $1,725.71 $308,296.20
232 $308,296.20 $1,358.35 $0.00 $1,743.15 $311,397.70
233 $311,397.70 $1,358.35 $0.00 $1,760.69 $314,516.74
234 $314,516.74 $1,358.35 $0.00 $1,778.32 $317,653.41
235 $317,653.41 $1,358.35 $0.00 $1,796.06 $320,807.82
236 $320,807.82 $1,358.35 $0.00 $1,813.89 $323,980.06
237 $323,980.06 $1,358.35 $0.00 $1,831.83 $327,170.24
238 $327,170.24 $1,358.35 $0.00 $1,849.87 $330,378.46
239 $330,378.46 $1,358.35 $0.00 $1,868.01 $333,604.82
240 $333,604.82 $1,358.35 $0.00 $1,886.25 $336,849.42
241 $336,849.42 $1,358.35 $177,277.98 $1,904.60 $162,834.39
242 $162,834.39 $1,358.35 $0.00 $920.69 $165,113.43
243 $165,113.43 $1,358.35 $0.00 $933.58 $167,405.36
244 $167,405.36 $1,358.35 $0.00 $946.53 $169,710.24
245 $169,710.24 $1,358.35 $0.00 $959.57 $172,028.16
246 $172,028.16 $1,358.35 $0.00 $972.67 $174,359.18
247 $174,359.18 $1,358.35 $0.00 $985.85 $176,703.38
248 $176,703.38 $1,358.35 $0.00 $999.11 $179,060.84
249 $179,060.84 $1,358.35 $0.00 $1,012.44 $181,431.63
250 $181,431.63 $1,358.35 $0.00 $1,025.84 $183,815.82
251 $183,815.82 $1,358.35 $0.00 $1,039.32 $186,213.49
252 $186,213.49 $1,358.35 $0.00 $1,052.88 $188,624.72
253 $188,624.72 $0.00 $189,687.44 $1,066.51 $3.79