Savings Plan and Future Cost Estimation for Southern University and A & M College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2041$62,354
Monthly savings required$494

How much will it cost to send your child to Southern University and A & M College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $249,414.69 for students enrolling in 2041 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $493.59 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$24,045.00
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 $493.59 $0.00 $0.00 $493.59
2 $493.59 $493.59 $0.00 $2.79 $989.97
3 $989.97 $493.59 $0.00 $5.60 $1,489.16
4 $1,489.16 $493.59 $0.00 $8.42 $1,991.17
5 $1,991.17 $493.59 $0.00 $11.26 $2,496.02
6 $2,496.02 $493.59 $0.00 $14.11 $3,003.72
7 $3,003.72 $493.59 $0.00 $16.98 $3,514.29
8 $3,514.29 $493.59 $0.00 $19.87 $4,027.75
9 $4,027.75 $493.59 $0.00 $22.77 $4,544.11
10 $4,544.11 $493.59 $0.00 $25.69 $5,063.39
11 $5,063.39 $493.59 $0.00 $28.63 $5,585.61
12 $5,585.61 $493.59 $0.00 $31.58 $6,110.78
13 $6,110.78 $493.59 $0.00 $34.55 $6,638.92
14 $6,638.92 $493.59 $0.00 $37.54 $7,170.05
15 $7,170.05 $493.59 $0.00 $40.54 $7,704.18
16 $7,704.18 $493.59 $0.00 $43.56 $8,241.33
17 $8,241.33 $493.59 $0.00 $46.60 $8,781.52
18 $8,781.52 $493.59 $0.00 $49.65 $9,324.76
19 $9,324.76 $493.59 $0.00 $52.72 $9,871.07
20 $9,871.07 $493.59 $0.00 $55.81 $10,420.47
21 $10,420.47 $493.59 $0.00 $58.92 $10,972.98
22 $10,972.98 $493.59 $0.00 $62.04 $11,528.61
23 $11,528.61 $493.59 $0.00 $65.18 $12,087.38
24 $12,087.38 $493.59 $0.00 $68.34 $12,649.31
25 $12,649.31 $493.59 $0.00 $71.52 $13,214.42
26 $13,214.42 $493.59 $0.00 $74.72 $13,782.73
27 $13,782.73 $493.59 $0.00 $77.93 $14,354.25
28 $14,354.25 $493.59 $0.00 $81.16 $14,929.00
29 $14,929.00 $493.59 $0.00 $84.41 $15,507.00
30 $15,507.00 $493.59 $0.00 $87.68 $16,088.27
31 $16,088.27 $493.59 $0.00 $90.97 $16,672.83
32 $16,672.83 $493.59 $0.00 $94.27 $17,260.69
33 $17,260.69 $493.59 $0.00 $97.59 $17,851.87
34 $17,851.87 $493.59 $0.00 $100.94 $18,446.40
35 $18,446.40 $493.59 $0.00 $104.30 $19,044.29
36 $19,044.29 $493.59 $0.00 $107.68 $19,645.56
37 $19,645.56 $493.59 $0.00 $111.08 $20,250.23
38 $20,250.23 $493.59 $0.00 $114.50 $20,858.32
39 $20,858.32 $493.59 $0.00 $117.94 $21,469.85
40 $21,469.85 $493.59 $0.00 $121.39 $22,084.83
41 $22,084.83 $493.59 $0.00 $124.87 $22,703.29
42 $22,703.29 $493.59 $0.00 $128.37 $23,325.25
43 $23,325.25 $493.59 $0.00 $131.88 $23,950.72
44 $23,950.72 $493.59 $0.00 $135.42 $24,579.73
45 $24,579.73 $493.59 $0.00 $138.98 $25,212.30
46 $25,212.30 $493.59 $0.00 $142.55 $25,848.44
47 $25,848.44 $493.59 $0.00 $146.15 $26,488.18
48 $26,488.18 $493.59 $0.00 $149.77 $27,131.54
49 $27,131.54 $493.59 $0.00 $153.41 $27,778.54
50 $27,778.54 $493.59 $0.00 $157.06 $28,429.19
51 $28,429.19 $493.59 $0.00 $160.74 $29,083.52
52 $29,083.52 $493.59 $0.00 $164.44 $29,741.55
53 $29,741.55 $493.59 $0.00 $168.16 $30,403.30
54 $30,403.30 $493.59 $0.00 $171.90 $31,068.79
55 $31,068.79 $493.59 $0.00 $175.67 $31,738.05
56 $31,738.05 $493.59 $0.00 $179.45 $32,411.09
57 $32,411.09 $493.59 $0.00 $183.26 $33,087.94
58 $33,087.94 $493.59 $0.00 $187.08 $33,768.61
59 $33,768.61 $493.59 $0.00 $190.93 $34,453.13
60 $34,453.13 $493.59 $0.00 $194.80 $35,141.52
61 $35,141.52 $493.59 $0.00 $198.70 $35,833.81
62 $35,833.81 $493.59 $0.00 $202.61 $36,530.01
63 $36,530.01 $493.59 $0.00 $206.55 $37,230.15
64 $37,230.15 $493.59 $0.00 $210.50 $37,934.24
65 $37,934.24 $493.59 $0.00 $214.49 $38,642.32
66 $38,642.32 $493.59 $0.00 $218.49 $39,354.40
67 $39,354.40 $493.59 $0.00 $222.52 $40,070.51
68 $40,070.51 $493.59 $0.00 $226.56 $40,790.66
69 $40,790.66 $493.59 $0.00 $230.64 $41,514.89
70 $41,514.89 $493.59 $0.00 $234.73 $42,243.21
71 $42,243.21 $493.59 $0.00 $238.85 $42,975.65
72 $42,975.65 $493.59 $0.00 $242.99 $43,712.23
73 $43,712.23 $493.59 $0.00 $247.16 $44,452.98
74 $44,452.98 $493.59 $0.00 $251.34 $45,197.91
75 $45,197.91 $493.59 $0.00 $255.56 $45,947.06
76 $45,947.06 $493.59 $0.00 $259.79 $46,700.44
77 $46,700.44 $493.59 $0.00 $264.05 $47,458.08
78 $47,458.08 $493.59 $0.00 $268.33 $48,220.00
79 $48,220.00 $493.59 $0.00 $272.64 $48,986.23
80 $48,986.23 $493.59 $0.00 $276.98 $49,756.80
81 $49,756.80 $493.59 $0.00 $281.33 $50,531.72
82 $50,531.72 $493.59 $0.00 $285.71 $51,311.02
83 $51,311.02 $493.59 $0.00 $290.12 $52,094.73
84 $52,094.73 $493.59 $0.00 $294.55 $52,882.87
85 $52,882.87 $493.59 $0.00 $299.01 $53,675.47
86 $53,675.47 $493.59 $0.00 $303.49 $54,472.55
87 $54,472.55 $493.59 $0.00 $308.00 $55,274.14
88 $55,274.14 $493.59 $0.00 $312.53 $56,080.26
89 $56,080.26 $493.59 $0.00 $317.09 $56,890.94
90 $56,890.94 $493.59 $0.00 $321.67 $57,706.20
91 $57,706.20 $493.59 $0.00 $326.28 $58,526.07
92 $58,526.07 $493.59 $0.00 $330.91 $59,350.57
93 $59,350.57 $493.59 $0.00 $335.58 $60,179.74
94 $60,179.74 $493.59 $0.00 $340.26 $61,013.59
95 $61,013.59 $493.59 $0.00 $344.98 $61,852.16
96 $61,852.16 $493.59 $0.00 $349.72 $62,695.47
97 $62,695.47 $493.59 $0.00 $354.49 $63,543.55
98 $63,543.55 $493.59 $0.00 $359.28 $64,396.42
99 $64,396.42 $493.59 $0.00 $364.11 $65,254.12
100 $65,254.12 $493.59 $0.00 $368.96 $66,116.67
101 $66,116.67 $493.59 $0.00 $373.83 $66,984.09
102 $66,984.09 $493.59 $0.00 $378.74 $67,856.42
103 $67,856.42 $493.59 $0.00 $383.67 $68,733.68
104 $68,733.68 $493.59 $0.00 $388.63 $69,615.90
105 $69,615.90 $493.59 $0.00 $393.62 $70,503.11
106 $70,503.11 $493.59 $0.00 $398.63 $71,395.33
107 $71,395.33 $493.59 $0.00 $403.68 $72,292.60
108 $72,292.60 $493.59 $0.00 $408.75 $73,194.94
109 $73,194.94 $493.59 $0.00 $413.85 $74,102.38
110 $74,102.38 $493.59 $0.00 $418.99 $75,014.96
111 $75,014.96 $493.59 $0.00 $424.15 $75,932.70
112 $75,932.70 $493.59 $0.00 $429.33 $76,855.62
113 $76,855.62 $493.59 $0.00 $434.55 $77,783.76
114 $77,783.76 $493.59 $0.00 $439.80 $78,717.15
115 $78,717.15 $493.59 $0.00 $445.08 $79,655.82
116 $79,655.82 $493.59 $0.00 $450.39 $80,599.80
117 $80,599.80 $493.59 $0.00 $455.72 $81,549.11
118 $81,549.11 $493.59 $0.00 $461.09 $82,503.79
119 $82,503.79 $493.59 $0.00 $466.49 $83,463.87
120 $83,463.87 $493.59 $0.00 $471.92 $84,429.38
121 $84,429.38 $493.59 $0.00 $477.38 $85,400.35
122 $85,400.35 $493.59 $0.00 $482.87 $86,376.81
123 $86,376.81 $493.59 $0.00 $488.39 $87,358.79
124 $87,358.79 $493.59 $0.00 $493.94 $88,346.32
125 $88,346.32 $493.59 $0.00 $499.52 $89,339.43
126 $89,339.43 $493.59 $0.00 $505.14 $90,338.16
127 $90,338.16 $493.59 $0.00 $510.79 $91,342.54
128 $91,342.54 $493.59 $0.00 $516.46 $92,352.59
129 $92,352.59 $493.59 $0.00 $522.17 $93,368.35
130 $93,368.35 $493.59 $0.00 $527.92 $94,389.86
131 $94,389.86 $493.59 $0.00 $533.69 $95,417.14
132 $95,417.14 $493.59 $0.00 $539.50 $96,450.23
133 $96,450.23 $493.59 $0.00 $545.34 $97,489.16
134 $97,489.16 $493.59 $0.00 $551.22 $98,533.97
135 $98,533.97 $493.59 $0.00 $557.13 $99,584.69
136 $99,584.69 $493.59 $0.00 $563.07 $100,641.35
137 $100,641.35 $493.59 $0.00 $569.04 $101,703.98
138 $101,703.98 $493.59 $0.00 $575.05 $102,772.62
139 $102,772.62 $493.59 $0.00 $581.09 $103,847.30
140 $103,847.30 $493.59 $0.00 $587.17 $104,928.06
141 $104,928.06 $493.59 $0.00 $593.28 $106,014.93
142 $106,014.93 $493.59 $0.00 $599.42 $107,107.94
143 $107,107.94 $493.59 $0.00 $605.60 $108,207.13
144 $108,207.13 $493.59 $0.00 $611.82 $109,312.54
145 $109,312.54 $493.59 $0.00 $618.07 $110,424.20
146 $110,424.20 $493.59 $0.00 $624.35 $111,542.14
147 $111,542.14 $493.59 $0.00 $630.68 $112,666.41
148 $112,666.41 $493.59 $0.00 $637.03 $113,797.03
149 $113,797.03 $493.59 $0.00 $643.42 $114,934.04
150 $114,934.04 $493.59 $0.00 $649.85 $116,077.48
151 $116,077.48 $493.59 $0.00 $656.32 $117,227.39
152 $117,227.39 $493.59 $0.00 $662.82 $118,383.80
153 $118,383.80 $493.59 $0.00 $669.36 $119,546.75
154 $119,546.75 $493.59 $0.00 $675.93 $120,716.27
155 $120,716.27 $493.59 $0.00 $682.55 $121,892.41
156 $121,892.41 $493.59 $0.00 $689.20 $123,075.20
157 $123,075.20 $493.59 $0.00 $695.89 $124,264.68
158 $124,264.68 $493.59 $0.00 $702.61 $125,460.88
159 $125,460.88 $493.59 $0.00 $709.37 $126,663.84
160 $126,663.84 $493.59 $0.00 $716.18 $127,873.61
161 $127,873.61 $493.59 $0.00 $723.02 $129,090.22
162 $129,090.22 $493.59 $0.00 $729.89 $130,313.70
163 $130,313.70 $493.59 $0.00 $736.81 $131,544.10
164 $131,544.10 $493.59 $0.00 $743.77 $132,781.46
165 $132,781.46 $493.59 $0.00 $750.77 $134,025.82
166 $134,025.82 $493.59 $0.00 $757.80 $135,277.21
167 $135,277.21 $493.59 $0.00 $764.88 $136,535.68
168 $136,535.68 $493.59 $0.00 $771.99 $137,801.26
169 $137,801.26 $493.59 $0.00 $779.15 $139,074.00
170 $139,074.00 $493.59 $0.00 $786.34 $140,353.93
171 $140,353.93 $493.59 $0.00 $793.58 $141,641.10
172 $141,641.10 $493.59 $0.00 $800.86 $142,935.55
173 $142,935.55 $493.59 $0.00 $808.18 $144,237.32
174 $144,237.32 $493.59 $0.00 $815.54 $145,546.45
175 $145,546.45 $493.59 $0.00 $822.94 $146,862.98
176 $146,862.98 $493.59 $0.00 $830.38 $148,186.95
177 $148,186.95 $493.59 $0.00 $837.87 $149,518.41
178 $149,518.41 $493.59 $0.00 $845.40 $150,857.40
179 $150,857.40 $493.59 $0.00 $852.97 $152,203.96
180 $152,203.96 $493.59 $0.00 $860.58 $153,558.13
181 $153,558.13 $493.59 $0.00 $868.24 $154,919.96
182 $154,919.96 $493.59 $0.00 $875.94 $156,289.49
183 $156,289.49 $493.59 $0.00 $883.68 $157,666.76
184 $157,666.76 $493.59 $0.00 $891.47 $159,051.82
185 $159,051.82 $493.59 $0.00 $899.30 $160,444.71
186 $160,444.71 $493.59 $0.00 $907.18 $161,845.48
187 $161,845.48 $493.59 $0.00 $915.10 $163,254.17
188 $163,254.17 $493.59 $0.00 $923.06 $164,670.82
189 $164,670.82 $493.59 $0.00 $931.07 $166,095.48
190 $166,095.48 $493.59 $0.00 $939.13 $167,528.20
191 $167,528.20 $493.59 $0.00 $947.23 $168,969.02
192 $168,969.02 $493.59 $0.00 $955.38 $170,417.99
193 $170,417.99 $493.59 $0.00 $963.57 $171,875.15
194 $171,875.15 $493.59 $0.00 $971.81 $173,340.55
195 $173,340.55 $493.59 $0.00 $980.09 $174,814.23
196 $174,814.23 $493.59 $0.00 $988.43 $176,296.25
197 $176,296.25 $493.59 $0.00 $996.80 $177,786.64
198 $177,786.64 $493.59 $0.00 $1,005.23 $179,285.46
199 $179,285.46 $493.59 $0.00 $1,013.71 $180,792.76
200 $180,792.76 $493.59 $0.00 $1,022.23 $182,308.58
201 $182,308.58 $493.59 $0.00 $1,030.80 $183,832.97
202 $183,832.97 $493.59 $0.00 $1,039.42 $185,365.98
203 $185,365.98 $493.59 $0.00 $1,048.09 $186,907.66
204 $186,907.66 $493.59 $0.00 $1,056.80 $188,458.05
205 $188,458.05 $493.59 $0.00 $1,065.57 $190,017.21
206 $190,017.21 $493.59 $0.00 $1,074.38 $191,585.18
207 $191,585.18 $493.59 $0.00 $1,083.25 $193,162.02
208 $193,162.02 $493.59 $0.00 $1,092.17 $194,747.78
209 $194,747.78 $493.59 $0.00 $1,101.13 $196,342.50
210 $196,342.50 $493.59 $0.00 $1,110.15 $197,946.24
211 $197,946.24 $493.59 $0.00 $1,119.22 $199,559.05
212 $199,559.05 $493.59 $0.00 $1,128.34 $201,180.98
213 $201,180.98 $493.59 $0.00 $1,137.51 $202,812.08
214 $202,812.08 $493.59 $0.00 $1,146.73 $204,452.40
215 $204,452.40 $493.59 $0.00 $1,156.00 $206,101.99
216 $206,101.99 $493.59 $0.00 $1,165.33 $207,760.91
217 $207,760.91 $493.59 $57,867.16 $1,174.71 $151,562.05
218 $151,562.05 $493.59 $0.00 $856.95 $152,912.59
219 $152,912.59 $493.59 $0.00 $864.59 $154,270.77
220 $154,270.77 $493.59 $0.00 $872.27 $155,636.63
221 $155,636.63 $493.59 $0.00 $879.99 $157,010.21
222 $157,010.21 $493.59 $0.00 $887.76 $158,391.56
223 $158,391.56 $493.59 $0.00 $895.57 $159,780.72
224 $159,780.72 $493.59 $0.00 $903.42 $161,177.73
225 $161,177.73 $493.59 $0.00 $911.32 $162,582.64
226 $162,582.64 $493.59 $0.00 $919.27 $163,995.50
227 $163,995.50 $493.59 $0.00 $927.25 $165,416.34
228 $165,416.34 $493.59 $0.00 $935.29 $166,845.22
229 $166,845.22 $493.59 $60,760.52 $943.37 $107,521.66
230 $107,521.66 $493.59 $0.00 $607.94 $108,623.19
231 $108,623.19 $493.59 $0.00 $614.17 $109,730.95
232 $109,730.95 $493.59 $0.00 $620.43 $110,844.97
233 $110,844.97 $493.59 $0.00 $626.73 $111,965.29
234 $111,965.29 $493.59 $0.00 $633.07 $113,091.95
235 $113,091.95 $493.59 $0.00 $639.44 $114,224.98
236 $114,224.98 $493.59 $0.00 $645.84 $115,364.41
237 $115,364.41 $493.59 $0.00 $652.29 $116,510.29
238 $116,510.29 $493.59 $0.00 $658.77 $117,662.65
239 $117,662.65 $493.59 $0.00 $665.28 $118,821.52
240 $118,821.52 $493.59 $0.00 $671.83 $119,986.94
241 $119,986.94 $493.59 $63,798.54 $678.42 $57,360.41
242 $57,360.41 $493.59 $0.00 $324.32 $58,178.32
243 $58,178.32 $493.59 $0.00 $328.95 $59,000.86
244 $59,000.86 $493.59 $0.00 $333.60 $59,828.05
245 $59,828.05 $493.59 $0.00 $338.28 $60,659.92
246 $60,659.92 $493.59 $0.00 $342.98 $61,496.49
247 $61,496.49 $493.59 $0.00 $347.71 $62,337.79
248 $62,337.79 $493.59 $0.00 $352.47 $63,183.85
249 $63,183.85 $493.59 $0.00 $357.25 $64,034.69
250 $64,034.69 $493.59 $0.00 $362.06 $64,890.34
251 $64,890.34 $493.59 $0.00 $366.90 $65,750.83
252 $65,750.83 $493.59 $0.00 $371.76 $66,616.18
253 $66,616.18 $0.00 $66,988.47 $376.66 $4.37