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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$70,006
Monthly savings required$554

How much will it cost to send your child to Cox College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $280,024.91 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $554.15 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$26,996.00
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 $554.15 $0.00 $0.00 $554.15
2 $554.15 $554.15 $0.00 $3.13 $1,111.43
3 $1,111.43 $554.15 $0.00 $6.28 $1,671.86
4 $1,671.86 $554.15 $0.00 $9.45 $2,235.46
5 $2,235.46 $554.15 $0.00 $12.64 $2,802.25
6 $2,802.25 $554.15 $0.00 $15.84 $3,372.24
7 $3,372.24 $554.15 $0.00 $19.07 $3,945.46
8 $3,945.46 $554.15 $0.00 $22.31 $4,521.92
9 $4,521.92 $554.15 $0.00 $25.57 $5,101.64
10 $5,101.64 $554.15 $0.00 $28.85 $5,684.64
11 $5,684.64 $554.15 $0.00 $32.14 $6,270.93
12 $6,270.93 $554.15 $0.00 $35.46 $6,860.54
13 $6,860.54 $554.15 $0.00 $38.79 $7,453.48
14 $7,453.48 $554.15 $0.00 $42.14 $8,049.77
15 $8,049.77 $554.15 $0.00 $45.51 $8,649.43
16 $8,649.43 $554.15 $0.00 $48.91 $9,252.49
17 $9,252.49 $554.15 $0.00 $52.31 $9,858.95
18 $9,858.95 $554.15 $0.00 $55.74 $10,468.84
19 $10,468.84 $554.15 $0.00 $59.19 $11,082.18
20 $11,082.18 $554.15 $0.00 $62.66 $11,698.99
21 $11,698.99 $554.15 $0.00 $66.15 $12,319.29
22 $12,319.29 $554.15 $0.00 $69.66 $12,943.10
23 $12,943.10 $554.15 $0.00 $73.18 $13,570.43
24 $13,570.43 $554.15 $0.00 $76.73 $14,201.31
25 $14,201.31 $554.15 $0.00 $80.30 $14,835.76
26 $14,835.76 $554.15 $0.00 $83.88 $15,473.79
27 $15,473.79 $554.15 $0.00 $87.49 $16,115.43
28 $16,115.43 $554.15 $0.00 $91.12 $16,760.70
29 $16,760.70 $554.15 $0.00 $94.77 $17,409.62
30 $17,409.62 $554.15 $0.00 $98.44 $18,062.21
31 $18,062.21 $554.15 $0.00 $102.13 $18,718.49
32 $18,718.49 $554.15 $0.00 $105.84 $19,378.48
33 $19,378.48 $554.15 $0.00 $109.57 $20,042.20
34 $20,042.20 $554.15 $0.00 $113.32 $20,709.67
35 $20,709.67 $554.15 $0.00 $117.10 $21,380.92
36 $21,380.92 $554.15 $0.00 $120.89 $22,055.96
37 $22,055.96 $554.15 $0.00 $124.71 $22,734.82
38 $22,734.82 $554.15 $0.00 $128.55 $23,417.52
39 $23,417.52 $554.15 $0.00 $132.41 $24,104.08
40 $24,104.08 $554.15 $0.00 $136.29 $24,794.52
41 $24,794.52 $554.15 $0.00 $140.19 $25,488.86
42 $25,488.86 $554.15 $0.00 $144.12 $26,187.13
43 $26,187.13 $554.15 $0.00 $148.07 $26,889.35
44 $26,889.35 $554.15 $0.00 $152.04 $27,595.54
45 $27,595.54 $554.15 $0.00 $156.03 $28,305.72
46 $28,305.72 $554.15 $0.00 $160.04 $29,019.91
47 $29,019.91 $554.15 $0.00 $164.08 $29,738.14
48 $29,738.14 $554.15 $0.00 $168.14 $30,460.43
49 $30,460.43 $554.15 $0.00 $172.23 $31,186.81
50 $31,186.81 $554.15 $0.00 $176.33 $31,917.29
51 $31,917.29 $554.15 $0.00 $180.46 $32,651.90
52 $32,651.90 $554.15 $0.00 $184.62 $33,390.67
53 $33,390.67 $554.15 $0.00 $188.80 $34,133.62
54 $34,133.62 $554.15 $0.00 $193.00 $34,880.77
55 $34,880.77 $554.15 $0.00 $197.22 $35,632.14
56 $35,632.14 $554.15 $0.00 $201.47 $36,387.76
57 $36,387.76 $554.15 $0.00 $205.74 $37,147.65
58 $37,147.65 $554.15 $0.00 $210.04 $37,911.84
59 $37,911.84 $554.15 $0.00 $214.36 $38,680.35
60 $38,680.35 $554.15 $0.00 $218.70 $39,453.20
61 $39,453.20 $554.15 $0.00 $223.07 $40,230.42
62 $40,230.42 $554.15 $0.00 $227.47 $41,012.04
63 $41,012.04 $554.15 $0.00 $231.89 $41,798.08
64 $41,798.08 $554.15 $0.00 $236.33 $42,588.56
65 $42,588.56 $554.15 $0.00 $240.80 $43,383.51
66 $43,383.51 $554.15 $0.00 $245.30 $44,182.96
67 $44,182.96 $554.15 $0.00 $249.82 $44,986.93
68 $44,986.93 $554.15 $0.00 $254.36 $45,795.44
69 $45,795.44 $554.15 $0.00 $258.93 $46,608.52
70 $46,608.52 $554.15 $0.00 $263.53 $47,426.20
71 $47,426.20 $554.15 $0.00 $268.15 $48,248.50
72 $48,248.50 $554.15 $0.00 $272.80 $49,075.45
73 $49,075.45 $554.15 $0.00 $277.48 $49,907.08
74 $49,907.08 $554.15 $0.00 $282.18 $50,743.41
75 $50,743.41 $554.15 $0.00 $286.91 $51,584.47
76 $51,584.47 $554.15 $0.00 $291.67 $52,430.29
77 $52,430.29 $554.15 $0.00 $296.45 $53,280.89
78 $53,280.89 $554.15 $0.00 $301.26 $54,136.30
79 $54,136.30 $554.15 $0.00 $306.09 $54,996.54
80 $54,996.54 $554.15 $0.00 $310.96 $55,861.65
81 $55,861.65 $554.15 $0.00 $315.85 $56,731.65
82 $56,731.65 $554.15 $0.00 $320.77 $57,606.57
83 $57,606.57 $554.15 $0.00 $325.72 $58,486.44
84 $58,486.44 $554.15 $0.00 $330.69 $59,371.28
85 $59,371.28 $554.15 $0.00 $335.69 $60,261.12
86 $60,261.12 $554.15 $0.00 $340.73 $61,156.00
87 $61,156.00 $554.15 $0.00 $345.78 $62,055.93
88 $62,055.93 $554.15 $0.00 $350.87 $62,960.95
89 $62,960.95 $554.15 $0.00 $355.99 $63,871.09
90 $63,871.09 $554.15 $0.00 $361.14 $64,786.38
91 $64,786.38 $554.15 $0.00 $366.31 $65,706.84
92 $65,706.84 $554.15 $0.00 $371.52 $66,632.51
93 $66,632.51 $554.15 $0.00 $376.75 $67,563.41
94 $67,563.41 $554.15 $0.00 $382.01 $68,499.57
95 $68,499.57 $554.15 $0.00 $387.31 $69,441.03
96 $69,441.03 $554.15 $0.00 $392.63 $70,387.81
97 $70,387.81 $554.15 $0.00 $397.98 $71,339.94
98 $71,339.94 $554.15 $0.00 $403.37 $72,297.46
99 $72,297.46 $554.15 $0.00 $408.78 $73,260.39
100 $73,260.39 $554.15 $0.00 $414.22 $74,228.76
101 $74,228.76 $554.15 $0.00 $419.70 $75,202.61
102 $75,202.61 $554.15 $0.00 $425.21 $76,181.97
103 $76,181.97 $554.15 $0.00 $430.74 $77,166.86
104 $77,166.86 $554.15 $0.00 $436.31 $78,157.32
105 $78,157.32 $554.15 $0.00 $441.91 $79,153.38
106 $79,153.38 $554.15 $0.00 $447.54 $80,155.07
107 $80,155.07 $554.15 $0.00 $453.21 $81,162.43
108 $81,162.43 $554.15 $0.00 $458.90 $82,175.48
109 $82,175.48 $554.15 $0.00 $464.63 $83,194.26
110 $83,194.26 $554.15 $0.00 $470.39 $84,218.80
111 $84,218.80 $554.15 $0.00 $476.19 $85,249.14
112 $85,249.14 $554.15 $0.00 $482.01 $86,285.30
113 $86,285.30 $554.15 $0.00 $487.87 $87,327.32
114 $87,327.32 $554.15 $0.00 $493.76 $88,375.23
115 $88,375.23 $554.15 $0.00 $499.69 $89,429.07
116 $89,429.07 $554.15 $0.00 $505.64 $90,488.86
117 $90,488.86 $554.15 $0.00 $511.64 $91,554.65
118 $91,554.65 $554.15 $0.00 $517.66 $92,626.46
119 $92,626.46 $554.15 $0.00 $523.72 $93,704.33
120 $93,704.33 $554.15 $0.00 $529.82 $94,788.30
121 $94,788.30 $554.15 $0.00 $535.95 $95,878.40
122 $95,878.40 $554.15 $0.00 $542.11 $96,974.66
123 $96,974.66 $554.15 $0.00 $548.31 $98,077.12
124 $98,077.12 $554.15 $0.00 $554.54 $99,185.81
125 $99,185.81 $554.15 $0.00 $560.81 $100,300.77
126 $100,300.77 $554.15 $0.00 $567.12 $101,422.04
127 $101,422.04 $554.15 $0.00 $573.45 $102,549.64
128 $102,549.64 $554.15 $0.00 $579.83 $103,683.62
129 $103,683.62 $554.15 $0.00 $586.24 $104,824.01
130 $104,824.01 $554.15 $0.00 $592.69 $105,970.85
131 $105,970.85 $554.15 $0.00 $599.17 $107,124.17
132 $107,124.17 $554.15 $0.00 $605.70 $108,284.02
133 $108,284.02 $554.15 $0.00 $612.25 $109,450.42
134 $109,450.42 $554.15 $0.00 $618.85 $110,623.42
135 $110,623.42 $554.15 $0.00 $625.48 $111,803.05
136 $111,803.05 $554.15 $0.00 $632.15 $112,989.35
137 $112,989.35 $554.15 $0.00 $638.86 $114,182.36
138 $114,182.36 $554.15 $0.00 $645.60 $115,382.11
139 $115,382.11 $554.15 $0.00 $652.39 $116,588.65
140 $116,588.65 $554.15 $0.00 $659.21 $117,802.01
141 $117,802.01 $554.15 $0.00 $666.07 $119,022.23
142 $119,022.23 $554.15 $0.00 $672.97 $120,249.35
143 $120,249.35 $554.15 $0.00 $679.91 $121,483.41
144 $121,483.41 $554.15 $0.00 $686.88 $122,724.44
145 $122,724.44 $554.15 $0.00 $693.90 $123,972.49
146 $123,972.49 $554.15 $0.00 $700.96 $125,227.60
147 $125,227.60 $554.15 $0.00 $708.06 $126,489.81
148 $126,489.81 $554.15 $0.00 $715.19 $127,759.15
149 $127,759.15 $554.15 $0.00 $722.37 $129,035.67
150 $129,035.67 $554.15 $0.00 $729.59 $130,319.41
151 $130,319.41 $554.15 $0.00 $736.84 $131,610.40
152 $131,610.40 $554.15 $0.00 $744.14 $132,908.69
153 $132,908.69 $554.15 $0.00 $751.49 $134,214.33
154 $134,214.33 $554.15 $0.00 $758.87 $135,527.35
155 $135,527.35 $554.15 $0.00 $766.29 $136,847.79
156 $136,847.79 $554.15 $0.00 $773.76 $138,175.70
157 $138,175.70 $554.15 $0.00 $781.27 $139,511.12
158 $139,511.12 $554.15 $0.00 $788.82 $140,854.09
159 $140,854.09 $554.15 $0.00 $796.41 $142,204.65
160 $142,204.65 $554.15 $0.00 $804.05 $143,562.85
161 $143,562.85 $554.15 $0.00 $811.73 $144,928.73
162 $144,928.73 $554.15 $0.00 $819.45 $146,302.33
163 $146,302.33 $554.15 $0.00 $827.21 $147,683.69
164 $147,683.69 $554.15 $0.00 $835.03 $149,072.87
165 $149,072.87 $554.15 $0.00 $842.88 $150,469.90
166 $150,469.90 $554.15 $0.00 $850.78 $151,874.83
167 $151,874.83 $554.15 $0.00 $858.72 $153,287.70
168 $153,287.70 $554.15 $0.00 $866.71 $154,708.56
169 $154,708.56 $554.15 $0.00 $874.74 $156,137.45
170 $156,137.45 $554.15 $0.00 $882.82 $157,574.42
171 $157,574.42 $554.15 $0.00 $890.95 $159,019.52
172 $159,019.52 $554.15 $0.00 $899.12 $160,472.79
173 $160,472.79 $554.15 $0.00 $907.34 $161,934.28
174 $161,934.28 $554.15 $0.00 $915.60 $163,404.03
175 $163,404.03 $554.15 $0.00 $923.91 $164,882.09
176 $164,882.09 $554.15 $0.00 $932.27 $166,368.51
177 $166,368.51 $554.15 $0.00 $940.67 $167,863.33
178 $167,863.33 $554.15 $0.00 $949.12 $169,366.60
179 $169,366.60 $554.15 $0.00 $957.62 $170,878.37
180 $170,878.37 $554.15 $0.00 $966.17 $172,398.69
181 $172,398.69 $554.15 $0.00 $974.77 $173,927.61
182 $173,927.61 $554.15 $0.00 $983.41 $175,465.17
183 $175,465.17 $554.15 $0.00 $992.11 $177,011.43
184 $177,011.43 $554.15 $0.00 $1,000.85 $178,566.43
185 $178,566.43 $554.15 $0.00 $1,009.64 $180,130.22
186 $180,130.22 $554.15 $0.00 $1,018.48 $181,702.85
187 $181,702.85 $554.15 $0.00 $1,027.37 $183,284.37
188 $183,284.37 $554.15 $0.00 $1,036.32 $184,874.84
189 $184,874.84 $554.15 $0.00 $1,045.31 $186,474.30
190 $186,474.30 $554.15 $0.00 $1,054.35 $188,082.80
191 $188,082.80 $554.15 $0.00 $1,063.45 $189,700.40
192 $189,700.40 $554.15 $0.00 $1,072.59 $191,327.14
193 $191,327.14 $554.15 $0.00 $1,081.79 $192,963.08
194 $192,963.08 $554.15 $0.00 $1,091.04 $194,608.27
195 $194,608.27 $554.15 $0.00 $1,100.34 $196,262.76
196 $196,262.76 $554.15 $0.00 $1,109.70 $197,926.61
197 $197,926.61 $554.15 $0.00 $1,119.11 $199,599.87
198 $199,599.87 $554.15 $0.00 $1,128.57 $201,282.59
199 $201,282.59 $554.15 $0.00 $1,138.08 $202,974.82
200 $202,974.82 $554.15 $0.00 $1,147.65 $204,676.62
201 $204,676.62 $554.15 $0.00 $1,157.27 $206,388.04
202 $206,388.04 $554.15 $0.00 $1,166.95 $208,109.14
203 $208,109.14 $554.15 $0.00 $1,176.68 $209,839.97
204 $209,839.97 $554.15 $0.00 $1,186.47 $211,580.59
205 $211,580.59 $554.15 $0.00 $1,196.31 $213,331.05
206 $213,331.05 $554.15 $0.00 $1,206.20 $215,091.40
207 $215,091.40 $554.15 $0.00 $1,216.16 $216,861.71
208 $216,861.71 $554.15 $0.00 $1,226.17 $218,642.03
209 $218,642.03 $554.15 $0.00 $1,236.23 $220,432.41
210 $220,432.41 $554.15 $0.00 $1,246.36 $222,232.92
211 $222,232.92 $554.15 $0.00 $1,256.54 $224,043.61
212 $224,043.61 $554.15 $0.00 $1,266.78 $225,864.54
213 $225,864.54 $554.15 $0.00 $1,277.07 $227,695.76
214 $227,695.76 $554.15 $0.00 $1,287.42 $229,537.33
215 $229,537.33 $554.15 $0.00 $1,297.84 $231,389.32
216 $231,389.32 $554.15 $0.00 $1,308.31 $233,251.78
217 $233,251.78 $554.15 $64,969.09 $1,318.84 $170,155.68
218 $170,155.68 $554.15 $0.00 $962.08 $171,671.91
219 $171,671.91 $554.15 $0.00 $970.66 $173,196.72
220 $173,196.72 $554.15 $0.00 $979.28 $174,730.15
221 $174,730.15 $554.15 $0.00 $987.95 $176,272.25
222 $176,272.25 $554.15 $0.00 $996.67 $177,823.07
223 $177,823.07 $554.15 $0.00 $1,005.44 $179,382.66
224 $179,382.66 $554.15 $0.00 $1,014.26 $180,951.07
225 $180,951.07 $554.15 $0.00 $1,023.12 $182,528.34
226 $182,528.34 $554.15 $0.00 $1,032.04 $184,114.53
227 $184,114.53 $554.15 $0.00 $1,041.01 $185,709.69
228 $185,709.69 $554.15 $0.00 $1,050.03 $187,313.87
229 $187,313.87 $554.15 $68,217.55 $1,059.10 $120,709.57
230 $120,709.57 $554.15 $0.00 $682.51 $121,946.23
231 $121,946.23 $554.15 $0.00 $689.50 $123,189.88
232 $123,189.88 $554.15 $0.00 $696.53 $124,440.56
233 $124,440.56 $554.15 $0.00 $703.61 $125,698.32
234 $125,698.32 $554.15 $0.00 $710.72 $126,963.19
235 $126,963.19 $554.15 $0.00 $717.87 $128,235.21
236 $128,235.21 $554.15 $0.00 $725.06 $129,514.42
237 $129,514.42 $554.15 $0.00 $732.29 $130,800.86
238 $130,800.86 $554.15 $0.00 $739.57 $132,094.58
239 $132,094.58 $554.15 $0.00 $746.88 $133,395.61
240 $133,395.61 $554.15 $0.00 $754.24 $134,704.00
241 $134,704.00 $554.15 $71,628.42 $761.64 $64,391.37
242 $64,391.37 $554.15 $0.00 $364.08 $65,309.60
243 $65,309.60 $554.15 $0.00 $369.27 $66,233.02
244 $66,233.02 $554.15 $0.00 $374.49 $67,161.66
245 $67,161.66 $554.15 $0.00 $379.74 $68,095.55
246 $68,095.55 $554.15 $0.00 $385.02 $69,034.72
247 $69,034.72 $554.15 $0.00 $390.33 $69,979.20
248 $69,979.20 $554.15 $0.00 $395.67 $70,929.02
249 $70,929.02 $554.15 $0.00 $401.04 $71,884.21
250 $71,884.21 $554.15 $0.00 $406.44 $72,844.80
251 $72,844.80 $554.15 $0.00 $411.88 $73,810.83
252 $73,810.83 $554.15 $0.00 $417.34 $74,782.32
253 $74,782.32 $0.00 $75,209.85 $422.83 ($4.70)