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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$75,317
Monthly savings required$596

How much will it cost to send your child to Sullivan University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $301,268.47 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $596.21 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$29,044.00
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 $596.21 $0.00 $0.00 $596.21
2 $596.21 $596.21 $0.00 $3.37 $1,195.79
3 $1,195.79 $596.21 $0.00 $6.76 $1,798.76
4 $1,798.76 $596.21 $0.00 $10.17 $2,405.14
5 $2,405.14 $596.21 $0.00 $13.60 $3,014.95
6 $3,014.95 $596.21 $0.00 $17.05 $3,628.21
7 $3,628.21 $596.21 $0.00 $20.51 $4,244.93
8 $4,244.93 $596.21 $0.00 $24.00 $4,865.14
9 $4,865.14 $596.21 $0.00 $27.51 $5,488.86
10 $5,488.86 $596.21 $0.00 $31.03 $6,116.10
11 $6,116.10 $596.21 $0.00 $34.58 $6,746.89
12 $6,746.89 $596.21 $0.00 $38.15 $7,381.25
13 $7,381.25 $596.21 $0.00 $41.73 $8,019.19
14 $8,019.19 $596.21 $0.00 $45.34 $8,660.74
15 $8,660.74 $596.21 $0.00 $48.97 $9,305.92
16 $9,305.92 $596.21 $0.00 $52.62 $9,954.75
17 $9,954.75 $596.21 $0.00 $56.29 $10,607.25
18 $10,607.25 $596.21 $0.00 $59.97 $11,263.43
19 $11,263.43 $596.21 $0.00 $63.69 $11,923.33
20 $11,923.33 $596.21 $0.00 $67.42 $12,586.96
21 $12,586.96 $596.21 $0.00 $71.17 $13,254.34
22 $13,254.34 $596.21 $0.00 $74.94 $13,925.49
23 $13,925.49 $596.21 $0.00 $78.74 $14,600.44
24 $14,600.44 $596.21 $0.00 $82.55 $15,279.20
25 $15,279.20 $596.21 $0.00 $86.39 $15,961.80
26 $15,961.80 $596.21 $0.00 $90.25 $16,648.26
27 $16,648.26 $596.21 $0.00 $94.13 $17,338.60
28 $17,338.60 $596.21 $0.00 $98.03 $18,032.84
29 $18,032.84 $596.21 $0.00 $101.96 $18,731.01
30 $18,731.01 $596.21 $0.00 $105.91 $19,433.13
31 $19,433.13 $596.21 $0.00 $109.88 $20,139.22
32 $20,139.22 $596.21 $0.00 $113.87 $20,849.30
33 $20,849.30 $596.21 $0.00 $117.88 $21,563.39
34 $21,563.39 $596.21 $0.00 $121.92 $22,281.52
35 $22,281.52 $596.21 $0.00 $125.98 $23,003.71
36 $23,003.71 $596.21 $0.00 $130.07 $23,729.99
37 $23,729.99 $596.21 $0.00 $134.17 $24,460.37
38 $24,460.37 $596.21 $0.00 $138.30 $25,194.88
39 $25,194.88 $596.21 $0.00 $142.46 $25,933.55
40 $25,933.55 $596.21 $0.00 $146.63 $26,676.39
41 $26,676.39 $596.21 $0.00 $150.83 $27,423.43
42 $27,423.43 $596.21 $0.00 $155.06 $28,174.70
43 $28,174.70 $596.21 $0.00 $159.30 $28,930.21
44 $28,930.21 $596.21 $0.00 $163.58 $29,690.00
45 $29,690.00 $596.21 $0.00 $167.87 $30,454.08
46 $30,454.08 $596.21 $0.00 $172.19 $31,222.48
47 $31,222.48 $596.21 $0.00 $176.54 $31,995.23
48 $31,995.23 $596.21 $0.00 $180.91 $32,772.35
49 $32,772.35 $596.21 $0.00 $185.30 $33,553.86
50 $33,553.86 $596.21 $0.00 $189.72 $34,339.79
51 $34,339.79 $596.21 $0.00 $194.16 $35,130.16
52 $35,130.16 $596.21 $0.00 $198.63 $35,925.00
53 $35,925.00 $596.21 $0.00 $203.13 $36,724.34
54 $36,724.34 $596.21 $0.00 $207.64 $37,528.19
55 $37,528.19 $596.21 $0.00 $212.19 $38,336.59
56 $38,336.59 $596.21 $0.00 $216.76 $39,149.56
57 $39,149.56 $596.21 $0.00 $221.36 $39,967.13
58 $39,967.13 $596.21 $0.00 $225.98 $40,789.32
59 $40,789.32 $596.21 $0.00 $230.63 $41,616.16
60 $41,616.16 $596.21 $0.00 $235.30 $42,447.67
61 $42,447.67 $596.21 $0.00 $240.01 $43,283.89
62 $43,283.89 $596.21 $0.00 $244.73 $44,124.83
63 $44,124.83 $596.21 $0.00 $249.49 $44,970.53
64 $44,970.53 $596.21 $0.00 $254.27 $45,821.01
65 $45,821.01 $596.21 $0.00 $259.08 $46,676.30
66 $46,676.30 $596.21 $0.00 $263.91 $47,536.42
67 $47,536.42 $596.21 $0.00 $268.78 $48,401.41
68 $48,401.41 $596.21 $0.00 $273.67 $49,271.29
69 $49,271.29 $596.21 $0.00 $278.59 $50,146.09
70 $50,146.09 $596.21 $0.00 $283.53 $51,025.83
71 $51,025.83 $596.21 $0.00 $288.51 $51,910.55
72 $51,910.55 $596.21 $0.00 $293.51 $52,800.27
73 $52,800.27 $596.21 $0.00 $298.54 $53,695.02
74 $53,695.02 $596.21 $0.00 $303.60 $54,594.83
75 $54,594.83 $596.21 $0.00 $308.69 $55,499.73
76 $55,499.73 $596.21 $0.00 $313.80 $56,409.74
77 $56,409.74 $596.21 $0.00 $318.95 $57,324.90
78 $57,324.90 $596.21 $0.00 $324.12 $58,245.23
79 $58,245.23 $596.21 $0.00 $329.33 $59,170.77
80 $59,170.77 $596.21 $0.00 $334.56 $60,101.54
81 $60,101.54 $596.21 $0.00 $339.82 $61,037.57
82 $61,037.57 $596.21 $0.00 $345.12 $61,978.90
83 $61,978.90 $596.21 $0.00 $350.44 $62,925.55
84 $62,925.55 $596.21 $0.00 $355.79 $63,877.55
85 $63,877.55 $596.21 $0.00 $361.17 $64,834.93
86 $64,834.93 $596.21 $0.00 $366.59 $65,797.73
87 $65,797.73 $596.21 $0.00 $372.03 $66,765.97
88 $66,765.97 $596.21 $0.00 $377.50 $67,739.68
89 $67,739.68 $596.21 $0.00 $383.01 $68,718.90
90 $68,718.90 $596.21 $0.00 $388.55 $69,703.66
91 $69,703.66 $596.21 $0.00 $394.11 $70,693.98
92 $70,693.98 $596.21 $0.00 $399.71 $71,689.90
93 $71,689.90 $596.21 $0.00 $405.35 $72,691.46
94 $72,691.46 $596.21 $0.00 $411.01 $73,698.68
95 $73,698.68 $596.21 $0.00 $416.70 $74,711.59
96 $74,711.59 $596.21 $0.00 $422.43 $75,730.23
97 $75,730.23 $596.21 $0.00 $428.19 $76,754.63
98 $76,754.63 $596.21 $0.00 $433.98 $77,784.82
99 $77,784.82 $596.21 $0.00 $439.81 $78,820.84
100 $78,820.84 $596.21 $0.00 $445.66 $79,862.71
101 $79,862.71 $596.21 $0.00 $451.56 $80,910.48
102 $80,910.48 $596.21 $0.00 $457.48 $81,964.17
103 $81,964.17 $596.21 $0.00 $463.44 $83,023.82
104 $83,023.82 $596.21 $0.00 $469.43 $84,089.46
105 $84,089.46 $596.21 $0.00 $475.45 $85,161.12
106 $85,161.12 $596.21 $0.00 $481.51 $86,238.84
107 $86,238.84 $596.21 $0.00 $487.61 $87,322.66
108 $87,322.66 $596.21 $0.00 $493.74 $88,412.61
109 $88,412.61 $596.21 $0.00 $499.90 $89,508.72
110 $89,508.72 $596.21 $0.00 $506.10 $90,611.03
111 $90,611.03 $596.21 $0.00 $512.33 $91,719.57
112 $91,719.57 $596.21 $0.00 $518.60 $92,834.38
113 $92,834.38 $596.21 $0.00 $524.90 $93,955.49
114 $93,955.49 $596.21 $0.00 $531.24 $95,082.94
115 $95,082.94 $596.21 $0.00 $537.61 $96,216.76
116 $96,216.76 $596.21 $0.00 $544.02 $97,356.99
117 $97,356.99 $596.21 $0.00 $550.47 $98,503.67
118 $98,503.67 $596.21 $0.00 $556.95 $99,656.83
119 $99,656.83 $596.21 $0.00 $563.47 $100,816.51
120 $100,816.51 $596.21 $0.00 $570.03 $101,982.75
121 $101,982.75 $596.21 $0.00 $576.63 $103,155.59
122 $103,155.59 $596.21 $0.00 $583.26 $104,335.06
123 $104,335.06 $596.21 $0.00 $589.93 $105,521.20
124 $105,521.20 $596.21 $0.00 $596.63 $106,714.04
125 $106,714.04 $596.21 $0.00 $603.38 $107,913.63
126 $107,913.63 $596.21 $0.00 $610.16 $109,120.00
127 $109,120.00 $596.21 $0.00 $616.98 $110,333.19
128 $110,333.19 $596.21 $0.00 $623.84 $111,553.24
129 $111,553.24 $596.21 $0.00 $630.74 $112,780.19
130 $112,780.19 $596.21 $0.00 $637.68 $114,014.08
131 $114,014.08 $596.21 $0.00 $644.65 $115,254.94
132 $115,254.94 $596.21 $0.00 $651.67 $116,502.82
133 $116,502.82 $596.21 $0.00 $658.72 $117,757.75
134 $117,757.75 $596.21 $0.00 $665.82 $119,019.78
135 $119,019.78 $596.21 $0.00 $672.96 $120,288.95
136 $120,288.95 $596.21 $0.00 $680.13 $121,565.29
137 $121,565.29 $596.21 $0.00 $687.35 $122,848.85
138 $122,848.85 $596.21 $0.00 $694.61 $124,139.67
139 $124,139.67 $596.21 $0.00 $701.90 $125,437.78
140 $125,437.78 $596.21 $0.00 $709.24 $126,743.23
141 $126,743.23 $596.21 $0.00 $716.62 $128,056.06
142 $128,056.06 $596.21 $0.00 $724.05 $129,376.32
143 $129,376.32 $596.21 $0.00 $731.51 $130,704.04
144 $130,704.04 $596.21 $0.00 $739.02 $132,039.27
145 $132,039.27 $596.21 $0.00 $746.57 $133,382.05
146 $133,382.05 $596.21 $0.00 $754.16 $134,732.42
147 $134,732.42 $596.21 $0.00 $761.80 $136,090.43
148 $136,090.43 $596.21 $0.00 $769.48 $137,456.12
149 $137,456.12 $596.21 $0.00 $777.20 $138,829.53
150 $138,829.53 $596.21 $0.00 $784.96 $140,210.70
151 $140,210.70 $596.21 $0.00 $792.77 $141,599.68
152 $141,599.68 $596.21 $0.00 $800.63 $142,996.52
153 $142,996.52 $596.21 $0.00 $808.52 $144,401.25
154 $144,401.25 $596.21 $0.00 $816.47 $145,813.93
155 $145,813.93 $596.21 $0.00 $824.45 $147,234.59
156 $147,234.59 $596.21 $0.00 $832.49 $148,663.29
157 $148,663.29 $596.21 $0.00 $840.56 $150,100.06
158 $150,100.06 $596.21 $0.00 $848.69 $151,544.96
159 $151,544.96 $596.21 $0.00 $856.86 $152,998.03
160 $152,998.03 $596.21 $0.00 $865.07 $154,459.31
161 $154,459.31 $596.21 $0.00 $873.34 $155,928.86
162 $155,928.86 $596.21 $0.00 $881.64 $157,406.71
163 $157,406.71 $596.21 $0.00 $890.00 $158,892.92
164 $158,892.92 $596.21 $0.00 $898.40 $160,387.53
165 $160,387.53 $596.21 $0.00 $906.85 $161,890.59
166 $161,890.59 $596.21 $0.00 $915.35 $163,402.15
167 $163,402.15 $596.21 $0.00 $923.90 $164,922.26
168 $164,922.26 $596.21 $0.00 $932.49 $166,450.96
169 $166,450.96 $596.21 $0.00 $941.14 $167,988.31
170 $167,988.31 $596.21 $0.00 $949.83 $169,534.35
171 $169,534.35 $596.21 $0.00 $958.57 $171,089.13
172 $171,089.13 $596.21 $0.00 $967.36 $172,652.70
173 $172,652.70 $596.21 $0.00 $976.20 $174,225.11
174 $174,225.11 $596.21 $0.00 $985.09 $175,806.41
175 $175,806.41 $596.21 $0.00 $994.04 $177,396.66
176 $177,396.66 $596.21 $0.00 $1,003.03 $178,995.90
177 $178,995.90 $596.21 $0.00 $1,012.07 $180,604.18
178 $180,604.18 $596.21 $0.00 $1,021.16 $182,221.55
179 $182,221.55 $596.21 $0.00 $1,030.31 $183,848.07
180 $183,848.07 $596.21 $0.00 $1,039.50 $185,483.78
181 $185,483.78 $596.21 $0.00 $1,048.75 $187,128.74
182 $187,128.74 $596.21 $0.00 $1,058.05 $188,783.00
183 $188,783.00 $596.21 $0.00 $1,067.41 $190,446.62
184 $190,446.62 $596.21 $0.00 $1,076.81 $192,119.64
185 $192,119.64 $596.21 $0.00 $1,086.27 $193,802.12
186 $193,802.12 $596.21 $0.00 $1,095.79 $195,494.12
187 $195,494.12 $596.21 $0.00 $1,105.35 $197,195.68
188 $197,195.68 $596.21 $0.00 $1,114.97 $198,906.86
189 $198,906.86 $596.21 $0.00 $1,124.65 $200,627.72
190 $200,627.72 $596.21 $0.00 $1,134.38 $202,358.31
191 $202,358.31 $596.21 $0.00 $1,144.16 $204,098.68
192 $204,098.68 $596.21 $0.00 $1,154.00 $205,848.89
193 $205,848.89 $596.21 $0.00 $1,163.90 $207,609.00
194 $207,609.00 $596.21 $0.00 $1,173.85 $209,379.06
195 $209,379.06 $596.21 $0.00 $1,183.86 $211,159.13
196 $211,159.13 $596.21 $0.00 $1,193.92 $212,949.26
197 $212,949.26 $596.21 $0.00 $1,204.05 $214,749.52
198 $214,749.52 $596.21 $0.00 $1,214.23 $216,559.96
199 $216,559.96 $596.21 $0.00 $1,224.46 $218,380.63
200 $218,380.63 $596.21 $0.00 $1,234.76 $220,211.60
201 $220,211.60 $596.21 $0.00 $1,245.11 $222,052.92
202 $222,052.92 $596.21 $0.00 $1,255.52 $223,904.65
203 $223,904.65 $596.21 $0.00 $1,265.99 $225,766.85
204 $225,766.85 $596.21 $0.00 $1,276.52 $227,639.58
205 $227,639.58 $596.21 $0.00 $1,287.11 $229,522.90
206 $229,522.90 $596.21 $0.00 $1,297.76 $231,416.87
207 $231,416.87 $596.21 $0.00 $1,308.46 $233,321.54
208 $233,321.54 $596.21 $0.00 $1,319.23 $235,236.98
209 $235,236.98 $596.21 $0.00 $1,330.06 $237,163.25
210 $237,163.25 $596.21 $0.00 $1,340.96 $239,100.42
211 $239,100.42 $596.21 $0.00 $1,351.91 $241,048.54
212 $241,048.54 $596.21 $0.00 $1,362.92 $243,007.67
213 $243,007.67 $596.21 $0.00 $1,374.00 $244,977.88
214 $244,977.88 $596.21 $0.00 $1,385.14 $246,959.23
215 $246,959.23 $596.21 $0.00 $1,396.34 $248,951.78
216 $248,951.78 $596.21 $0.00 $1,407.61 $250,955.60
217 $250,955.60 $596.21 $69,897.85 $1,418.94 $183,072.90
218 $183,072.90 $596.21 $0.00 $1,035.12 $184,704.23
219 $184,704.23 $596.21 $0.00 $1,044.34 $186,344.78
220 $186,344.78 $596.21 $0.00 $1,053.62 $187,994.61
221 $187,994.61 $596.21 $0.00 $1,062.95 $189,653.77
222 $189,653.77 $596.21 $0.00 $1,072.33 $191,322.31
223 $191,322.31 $596.21 $0.00 $1,081.76 $193,000.28
224 $193,000.28 $596.21 $0.00 $1,091.25 $194,687.74
225 $194,687.74 $596.21 $0.00 $1,100.79 $196,384.74
226 $196,384.74 $596.21 $0.00 $1,110.39 $198,091.34
227 $198,091.34 $596.21 $0.00 $1,120.04 $199,807.59
228 $199,807.59 $596.21 $0.00 $1,129.74 $201,533.54
229 $201,533.54 $596.21 $73,392.74 $1,139.50 $129,876.51
230 $129,876.51 $596.21 $0.00 $734.34 $131,207.06
231 $131,207.06 $596.21 $0.00 $741.86 $132,545.13
232 $132,545.13 $596.21 $0.00 $749.43 $133,890.77
233 $133,890.77 $596.21 $0.00 $757.04 $135,244.02
234 $135,244.02 $596.21 $0.00 $764.69 $136,604.92
235 $136,604.92 $596.21 $0.00 $772.38 $137,973.51
236 $137,973.51 $596.21 $0.00 $780.12 $139,349.84
237 $139,349.84 $596.21 $0.00 $787.90 $140,733.95
238 $140,733.95 $596.21 $0.00 $795.73 $142,125.89
239 $142,125.89 $596.21 $0.00 $803.60 $143,525.70
240 $143,525.70 $596.21 $0.00 $811.52 $144,933.43
241 $144,933.43 $596.21 $77,062.38 $819.47 $69,286.73
242 $69,286.73 $596.21 $0.00 $391.76 $70,274.70
243 $70,274.70 $596.21 $0.00 $397.34 $71,268.25
244 $71,268.25 $596.21 $0.00 $402.96 $72,267.42
245 $72,267.42 $596.21 $0.00 $408.61 $73,272.24
246 $73,272.24 $596.21 $0.00 $414.29 $74,282.74
247 $74,282.74 $596.21 $0.00 $420.01 $75,298.96
248 $75,298.96 $596.21 $0.00 $425.75 $76,320.92
249 $76,320.92 $596.21 $0.00 $431.53 $77,348.66
250 $77,348.66 $596.21 $0.00 $437.34 $78,382.21
251 $78,382.21 $596.21 $0.00 $443.18 $79,421.60
252 $79,421.60 $596.21 $0.00 $449.06 $80,466.87
253 $80,466.87 $0.00 $80,915.50 $454.97 $6.34