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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$60,505
Monthly savings required$479

How much will it cost to send your child to Coppin State University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $242,018.86 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $478.95 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$23,332.00
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 $478.95 $0.00 $0.00 $478.95
2 $478.95 $478.95 $0.00 $2.71 $960.61
3 $960.61 $478.95 $0.00 $5.43 $1,444.99
4 $1,444.99 $478.95 $0.00 $8.17 $1,932.11
5 $1,932.11 $478.95 $0.00 $10.92 $2,421.98
6 $2,421.98 $478.95 $0.00 $13.69 $2,914.62
7 $2,914.62 $478.95 $0.00 $16.48 $3,410.05
8 $3,410.05 $478.95 $0.00 $19.28 $3,908.28
9 $3,908.28 $478.95 $0.00 $22.10 $4,409.33
10 $4,409.33 $478.95 $0.00 $24.93 $4,913.21
11 $4,913.21 $478.95 $0.00 $27.78 $5,419.94
12 $5,419.94 $478.95 $0.00 $30.65 $5,929.54
13 $5,929.54 $478.95 $0.00 $33.53 $6,442.02
14 $6,442.02 $478.95 $0.00 $36.42 $6,957.39
15 $6,957.39 $478.95 $0.00 $39.34 $7,475.68
16 $7,475.68 $478.95 $0.00 $42.27 $7,996.90
17 $7,996.90 $478.95 $0.00 $45.22 $8,521.07
18 $8,521.07 $478.95 $0.00 $48.18 $9,048.20
19 $9,048.20 $478.95 $0.00 $51.16 $9,578.31
20 $9,578.31 $478.95 $0.00 $54.16 $10,111.42
21 $10,111.42 $478.95 $0.00 $57.17 $10,647.54
22 $10,647.54 $478.95 $0.00 $60.20 $11,186.69
23 $11,186.69 $478.95 $0.00 $63.25 $11,728.89
24 $11,728.89 $478.95 $0.00 $66.32 $12,274.16
25 $12,274.16 $478.95 $0.00 $69.40 $12,822.51
26 $12,822.51 $478.95 $0.00 $72.50 $13,373.96
27 $13,373.96 $478.95 $0.00 $75.62 $13,928.53
28 $13,928.53 $478.95 $0.00 $78.75 $14,486.23
29 $14,486.23 $478.95 $0.00 $81.91 $15,047.09
30 $15,047.09 $478.95 $0.00 $85.08 $15,611.12
31 $15,611.12 $478.95 $0.00 $88.27 $16,178.34
32 $16,178.34 $478.95 $0.00 $91.47 $16,748.76
33 $16,748.76 $478.95 $0.00 $94.70 $17,322.41
34 $17,322.41 $478.95 $0.00 $97.94 $17,899.30
35 $17,899.30 $478.95 $0.00 $101.21 $18,479.46
36 $18,479.46 $478.95 $0.00 $104.49 $19,062.90
37 $19,062.90 $478.95 $0.00 $107.78 $19,649.63
38 $19,649.63 $478.95 $0.00 $111.10 $20,239.68
39 $20,239.68 $478.95 $0.00 $114.44 $20,833.07
40 $20,833.07 $478.95 $0.00 $117.79 $21,429.81
41 $21,429.81 $478.95 $0.00 $121.17 $22,029.93
42 $22,029.93 $478.95 $0.00 $124.56 $22,633.44
43 $22,633.44 $478.95 $0.00 $127.97 $23,240.36
44 $23,240.36 $478.95 $0.00 $131.40 $23,850.71
45 $23,850.71 $478.95 $0.00 $134.86 $24,464.52
46 $24,464.52 $478.95 $0.00 $138.33 $25,081.80
47 $25,081.80 $478.95 $0.00 $141.82 $25,702.57
48 $25,702.57 $478.95 $0.00 $145.33 $26,326.85
49 $26,326.85 $478.95 $0.00 $148.86 $26,954.66
50 $26,954.66 $478.95 $0.00 $152.41 $27,586.02
51 $27,586.02 $478.95 $0.00 $155.98 $28,220.95
52 $28,220.95 $478.95 $0.00 $159.57 $28,859.47
53 $28,859.47 $478.95 $0.00 $163.18 $29,501.60
54 $29,501.60 $478.95 $0.00 $166.81 $30,147.36
55 $30,147.36 $478.95 $0.00 $170.46 $30,796.77
56 $30,796.77 $478.95 $0.00 $174.13 $31,449.85
57 $31,449.85 $478.95 $0.00 $177.82 $32,106.62
58 $32,106.62 $478.95 $0.00 $181.54 $32,767.11
59 $32,767.11 $478.95 $0.00 $185.27 $33,431.33
60 $33,431.33 $478.95 $0.00 $189.03 $34,099.31
61 $34,099.31 $478.95 $0.00 $192.80 $34,771.06
62 $34,771.06 $478.95 $0.00 $196.60 $35,446.61
63 $35,446.61 $478.95 $0.00 $200.42 $36,125.98
64 $36,125.98 $478.95 $0.00 $204.26 $36,809.19
65 $36,809.19 $478.95 $0.00 $208.12 $37,496.26
66 $37,496.26 $478.95 $0.00 $212.01 $38,187.22
67 $38,187.22 $478.95 $0.00 $215.92 $38,882.09
68 $38,882.09 $478.95 $0.00 $219.84 $39,580.88
69 $39,580.88 $478.95 $0.00 $223.80 $40,283.63
70 $40,283.63 $478.95 $0.00 $227.77 $40,990.35
71 $40,990.35 $478.95 $0.00 $231.77 $41,701.07
72 $41,701.07 $478.95 $0.00 $235.78 $42,415.80
73 $42,415.80 $478.95 $0.00 $239.83 $43,134.58
74 $43,134.58 $478.95 $0.00 $243.89 $43,857.42
75 $43,857.42 $478.95 $0.00 $247.98 $44,584.35
76 $44,584.35 $478.95 $0.00 $252.09 $45,315.39
77 $45,315.39 $478.95 $0.00 $256.22 $46,050.56
78 $46,050.56 $478.95 $0.00 $260.38 $46,789.89
79 $46,789.89 $478.95 $0.00 $264.56 $47,533.40
80 $47,533.40 $478.95 $0.00 $268.76 $48,281.11
81 $48,281.11 $478.95 $0.00 $272.99 $49,033.05
82 $49,033.05 $478.95 $0.00 $277.24 $49,789.24
83 $49,789.24 $478.95 $0.00 $281.52 $50,549.71
84 $50,549.71 $478.95 $0.00 $285.82 $51,314.48
85 $51,314.48 $478.95 $0.00 $290.14 $52,083.57
86 $52,083.57 $478.95 $0.00 $294.49 $52,857.01
87 $52,857.01 $478.95 $0.00 $298.86 $53,634.82
88 $53,634.82 $478.95 $0.00 $303.26 $54,417.03
89 $54,417.03 $478.95 $0.00 $307.68 $55,203.66
90 $55,203.66 $478.95 $0.00 $312.13 $55,994.74
91 $55,994.74 $478.95 $0.00 $316.60 $56,790.29
92 $56,790.29 $478.95 $0.00 $321.10 $57,590.34
93 $57,590.34 $478.95 $0.00 $325.62 $58,394.91
94 $58,394.91 $478.95 $0.00 $330.17 $59,204.03
95 $59,204.03 $478.95 $0.00 $334.75 $60,017.73
96 $60,017.73 $478.95 $0.00 $339.35 $60,836.03
97 $60,836.03 $478.95 $0.00 $343.98 $61,658.96
98 $61,658.96 $478.95 $0.00 $348.63 $62,486.54
99 $62,486.54 $478.95 $0.00 $353.31 $63,318.80
100 $63,318.80 $478.95 $0.00 $358.01 $64,155.76
101 $64,155.76 $478.95 $0.00 $362.75 $64,997.46
102 $64,997.46 $478.95 $0.00 $367.51 $65,843.92
103 $65,843.92 $478.95 $0.00 $372.29 $66,695.16
104 $66,695.16 $478.95 $0.00 $377.10 $67,551.21
105 $67,551.21 $478.95 $0.00 $381.94 $68,412.10
106 $68,412.10 $478.95 $0.00 $386.81 $69,277.86
107 $69,277.86 $478.95 $0.00 $391.71 $70,148.52
108 $70,148.52 $478.95 $0.00 $396.63 $71,024.10
109 $71,024.10 $478.95 $0.00 $401.58 $71,904.63
110 $71,904.63 $478.95 $0.00 $406.56 $72,790.14
111 $72,790.14 $478.95 $0.00 $411.57 $73,680.66
112 $73,680.66 $478.95 $0.00 $416.60 $74,576.21
113 $74,576.21 $478.95 $0.00 $421.66 $75,476.82
114 $75,476.82 $478.95 $0.00 $426.76 $76,382.53
115 $76,382.53 $478.95 $0.00 $431.88 $77,293.36
116 $77,293.36 $478.95 $0.00 $437.03 $78,209.34
117 $78,209.34 $478.95 $0.00 $442.21 $79,130.50
118 $79,130.50 $478.95 $0.00 $447.42 $80,056.87
119 $80,056.87 $478.95 $0.00 $452.65 $80,988.47
120 $80,988.47 $478.95 $0.00 $457.92 $81,925.34
121 $81,925.34 $478.95 $0.00 $463.22 $82,867.51
122 $82,867.51 $478.95 $0.00 $468.54 $83,815.00
123 $83,815.00 $478.95 $0.00 $473.90 $84,767.85
124 $84,767.85 $478.95 $0.00 $479.29 $85,726.09
125 $85,726.09 $478.95 $0.00 $484.71 $86,689.75
126 $86,689.75 $478.95 $0.00 $490.16 $87,658.86
127 $87,658.86 $478.95 $0.00 $495.64 $88,633.45
128 $88,633.45 $478.95 $0.00 $501.15 $89,613.55
129 $89,613.55 $478.95 $0.00 $506.69 $90,599.19
130 $90,599.19 $478.95 $0.00 $512.26 $91,590.40
131 $91,590.40 $478.95 $0.00 $517.87 $92,587.22
132 $92,587.22 $478.95 $0.00 $523.50 $93,589.67
133 $93,589.67 $478.95 $0.00 $529.17 $94,597.79
134 $94,597.79 $478.95 $0.00 $534.87 $95,611.61
135 $95,611.61 $478.95 $0.00 $540.60 $96,631.16
136 $96,631.16 $478.95 $0.00 $546.37 $97,656.48
137 $97,656.48 $478.95 $0.00 $552.16 $98,687.59
138 $98,687.59 $478.95 $0.00 $557.99 $99,724.53
139 $99,724.53 $478.95 $0.00 $563.86 $100,767.34
140 $100,767.34 $478.95 $0.00 $569.75 $101,816.04
141 $101,816.04 $478.95 $0.00 $575.68 $102,870.67
142 $102,870.67 $478.95 $0.00 $581.65 $103,931.27
143 $103,931.27 $478.95 $0.00 $587.64 $104,997.86
144 $104,997.86 $478.95 $0.00 $593.67 $106,070.48
145 $106,070.48 $478.95 $0.00 $599.74 $107,149.17
146 $107,149.17 $478.95 $0.00 $605.84 $108,233.96
147 $108,233.96 $478.95 $0.00 $611.97 $109,324.88
148 $109,324.88 $478.95 $0.00 $618.14 $110,421.97
149 $110,421.97 $478.95 $0.00 $624.34 $111,525.26
150 $111,525.26 $478.95 $0.00 $630.58 $112,634.79
151 $112,634.79 $478.95 $0.00 $636.85 $113,750.59
152 $113,750.59 $478.95 $0.00 $643.16 $114,872.70
153 $114,872.70 $478.95 $0.00 $649.51 $116,001.16
154 $116,001.16 $478.95 $0.00 $655.89 $117,136.00
155 $117,136.00 $478.95 $0.00 $662.30 $118,277.25
156 $118,277.25 $478.95 $0.00 $668.76 $119,424.96
157 $119,424.96 $478.95 $0.00 $675.25 $120,579.16
158 $120,579.16 $478.95 $0.00 $681.77 $121,739.88
159 $121,739.88 $478.95 $0.00 $688.33 $122,907.16
160 $122,907.16 $478.95 $0.00 $694.93 $124,081.04
161 $124,081.04 $478.95 $0.00 $701.57 $125,261.56
162 $125,261.56 $478.95 $0.00 $708.25 $126,448.76
163 $126,448.76 $478.95 $0.00 $714.96 $127,642.67
164 $127,642.67 $478.95 $0.00 $721.71 $128,843.33
165 $128,843.33 $478.95 $0.00 $728.50 $130,050.78
166 $130,050.78 $478.95 $0.00 $735.33 $131,265.06
167 $131,265.06 $478.95 $0.00 $742.19 $132,486.20
168 $132,486.20 $478.95 $0.00 $749.10 $133,714.25
169 $133,714.25 $478.95 $0.00 $756.04 $134,949.24
170 $134,949.24 $478.95 $0.00 $763.02 $136,191.21
171 $136,191.21 $478.95 $0.00 $770.04 $137,440.20
172 $137,440.20 $478.95 $0.00 $777.11 $138,696.26
173 $138,696.26 $478.95 $0.00 $784.21 $139,959.42
174 $139,959.42 $478.95 $0.00 $791.35 $141,229.72
175 $141,229.72 $478.95 $0.00 $798.53 $142,507.20
176 $142,507.20 $478.95 $0.00 $805.76 $143,791.91
177 $143,791.91 $478.95 $0.00 $813.02 $145,083.88
178 $145,083.88 $478.95 $0.00 $820.33 $146,383.16
179 $146,383.16 $478.95 $0.00 $827.67 $147,689.78
180 $147,689.78 $478.95 $0.00 $835.06 $149,003.79
181 $149,003.79 $478.95 $0.00 $842.49 $150,325.23
182 $150,325.23 $478.95 $0.00 $849.96 $151,654.14
183 $151,654.14 $478.95 $0.00 $857.47 $152,990.56
184 $152,990.56 $478.95 $0.00 $865.03 $154,334.54
185 $154,334.54 $478.95 $0.00 $872.63 $155,686.12
186 $155,686.12 $478.95 $0.00 $880.27 $157,045.34
187 $157,045.34 $478.95 $0.00 $887.96 $158,412.25
188 $158,412.25 $478.95 $0.00 $895.69 $159,786.89
189 $159,786.89 $478.95 $0.00 $903.46 $161,169.30
190 $161,169.30 $478.95 $0.00 $911.27 $162,559.52
191 $162,559.52 $478.95 $0.00 $919.14 $163,957.61
192 $163,957.61 $478.95 $0.00 $927.04 $165,363.60
193 $165,363.60 $478.95 $0.00 $934.99 $166,777.54
194 $166,777.54 $478.95 $0.00 $942.98 $168,199.47
195 $168,199.47 $478.95 $0.00 $951.02 $169,629.44
196 $169,629.44 $478.95 $0.00 $959.11 $171,067.50
197 $171,067.50 $478.95 $0.00 $967.24 $172,513.69
198 $172,513.69 $478.95 $0.00 $975.42 $173,968.06
199 $173,968.06 $478.95 $0.00 $983.64 $175,430.65
200 $175,430.65 $478.95 $0.00 $991.91 $176,901.51
201 $176,901.51 $478.95 $0.00 $1,000.23 $178,380.69
202 $178,380.69 $478.95 $0.00 $1,008.59 $179,868.23
203 $179,868.23 $478.95 $0.00 $1,017.00 $181,364.18
204 $181,364.18 $478.95 $0.00 $1,025.46 $182,868.59
205 $182,868.59 $478.95 $0.00 $1,033.97 $184,381.51
206 $184,381.51 $478.95 $0.00 $1,042.52 $185,902.98
207 $185,902.98 $478.95 $0.00 $1,051.12 $187,433.05
208 $187,433.05 $478.95 $0.00 $1,059.77 $188,971.77
209 $188,971.77 $478.95 $0.00 $1,068.47 $190,519.19
210 $190,519.19 $478.95 $0.00 $1,077.22 $192,075.36
211 $192,075.36 $478.95 $0.00 $1,086.02 $193,640.33
212 $193,640.33 $478.95 $0.00 $1,094.87 $195,214.15
213 $195,214.15 $478.95 $0.00 $1,103.77 $196,796.87
214 $196,796.87 $478.95 $0.00 $1,112.72 $198,388.54
215 $198,388.54 $478.95 $0.00 $1,121.72 $199,989.21
216 $199,989.21 $478.95 $0.00 $1,130.77 $201,598.93
217 $201,598.93 $478.95 $56,151.24 $1,139.87 $147,066.51
218 $147,066.51 $478.95 $0.00 $831.54 $148,377.00
219 $148,377.00 $478.95 $0.00 $838.95 $149,694.90
220 $149,694.90 $478.95 $0.00 $846.40 $151,020.25
221 $151,020.25 $478.95 $0.00 $853.89 $152,353.09
222 $152,353.09 $478.95 $0.00 $861.43 $153,693.47
223 $153,693.47 $478.95 $0.00 $869.01 $155,041.43
224 $155,041.43 $478.95 $0.00 $876.63 $156,397.01
225 $156,397.01 $478.95 $0.00 $884.29 $157,760.25
226 $157,760.25 $478.95 $0.00 $892.00 $159,131.20
227 $159,131.20 $478.95 $0.00 $899.75 $160,509.90
228 $160,509.90 $478.95 $0.00 $907.55 $161,896.40
229 $161,896.40 $478.95 $58,958.80 $915.39 $104,331.94
230 $104,331.94 $478.95 $0.00 $589.91 $105,400.80
231 $105,400.80 $478.95 $0.00 $595.95 $106,475.70
232 $106,475.70 $478.95 $0.00 $602.03 $107,556.68
233 $107,556.68 $478.95 $0.00 $608.14 $108,643.77
234 $108,643.77 $478.95 $0.00 $614.29 $109,737.01
235 $109,737.01 $478.95 $0.00 $620.47 $110,836.43
236 $110,836.43 $478.95 $0.00 $626.69 $111,942.07
237 $111,942.07 $478.95 $0.00 $632.94 $113,053.96
238 $113,053.96 $478.95 $0.00 $639.22 $114,172.13
239 $114,172.13 $478.95 $0.00 $645.55 $115,296.63
240 $115,296.63 $478.95 $0.00 $651.90 $116,427.48
241 $116,427.48 $478.95 $61,906.74 $658.30 $55,657.99
242 $55,657.99 $478.95 $0.00 $314.70 $56,451.64
243 $56,451.64 $478.95 $0.00 $319.19 $57,249.78
244 $57,249.78 $478.95 $0.00 $323.70 $58,052.43
245 $58,052.43 $478.95 $0.00 $328.24 $58,859.62
246 $58,859.62 $478.95 $0.00 $332.80 $59,671.37
247 $59,671.37 $478.95 $0.00 $337.39 $60,487.71
248 $60,487.71 $478.95 $0.00 $342.01 $61,308.67
249 $61,308.67 $478.95 $0.00 $346.65 $62,134.27
250 $62,134.27 $478.95 $0.00 $351.32 $62,964.54
251 $62,964.54 $478.95 $0.00 $356.01 $63,799.50
252 $63,799.50 $478.95 $0.00 $360.73 $64,639.18
253 $64,639.18 $0.00 $65,002.08 $365.48 $2.58