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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$125,952
Monthly savings required$997

How much will it cost to send your child to Doane University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $503,808.34 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $997.02 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$48,570.00
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 $997.02 $0.00 $0.00 $997.02
2 $997.02 $997.02 $0.00 $5.64 $1,999.68
3 $1,999.68 $997.02 $0.00 $11.31 $3,008.01
4 $3,008.01 $997.02 $0.00 $17.01 $4,022.04
5 $4,022.04 $997.02 $0.00 $22.74 $5,041.80
6 $5,041.80 $997.02 $0.00 $28.51 $6,067.33
7 $6,067.33 $997.02 $0.00 $34.31 $7,098.66
8 $7,098.66 $997.02 $0.00 $40.14 $8,135.82
9 $8,135.82 $997.02 $0.00 $46.00 $9,178.84
10 $9,178.84 $997.02 $0.00 $51.90 $10,227.76
11 $10,227.76 $997.02 $0.00 $57.83 $11,282.61
12 $11,282.61 $997.02 $0.00 $63.79 $12,343.42
13 $12,343.42 $997.02 $0.00 $69.79 $13,410.23
14 $13,410.23 $997.02 $0.00 $75.82 $14,483.07
15 $14,483.07 $997.02 $0.00 $81.89 $15,561.98
16 $15,561.98 $997.02 $0.00 $87.99 $16,646.99
17 $16,646.99 $997.02 $0.00 $94.12 $17,738.13
18 $17,738.13 $997.02 $0.00 $100.29 $18,835.44
19 $18,835.44 $997.02 $0.00 $106.50 $19,938.96
20 $19,938.96 $997.02 $0.00 $112.74 $21,048.72
21 $21,048.72 $997.02 $0.00 $119.01 $22,164.75
22 $22,164.75 $997.02 $0.00 $125.32 $23,287.09
23 $23,287.09 $997.02 $0.00 $131.67 $24,415.78
24 $24,415.78 $997.02 $0.00 $138.05 $25,550.85
25 $25,550.85 $997.02 $0.00 $144.47 $26,692.34
26 $26,692.34 $997.02 $0.00 $150.92 $27,840.28
27 $27,840.28 $997.02 $0.00 $157.41 $28,994.71
28 $28,994.71 $997.02 $0.00 $163.94 $30,155.67
29 $30,155.67 $997.02 $0.00 $170.50 $31,323.19
30 $31,323.19 $997.02 $0.00 $177.11 $32,497.32
31 $32,497.32 $997.02 $0.00 $183.74 $33,678.08
32 $33,678.08 $997.02 $0.00 $190.42 $34,865.52
33 $34,865.52 $997.02 $0.00 $197.13 $36,059.67
34 $36,059.67 $997.02 $0.00 $203.89 $37,260.58
35 $37,260.58 $997.02 $0.00 $210.68 $38,468.28
36 $38,468.28 $997.02 $0.00 $217.51 $39,682.81
37 $39,682.81 $997.02 $0.00 $224.37 $40,904.20
38 $40,904.20 $997.02 $0.00 $231.28 $42,132.50
39 $42,132.50 $997.02 $0.00 $238.22 $43,367.74
40 $43,367.74 $997.02 $0.00 $245.21 $44,609.97
41 $44,609.97 $997.02 $0.00 $252.23 $45,859.22
42 $45,859.22 $997.02 $0.00 $259.29 $47,115.53
43 $47,115.53 $997.02 $0.00 $266.40 $48,378.95
44 $48,378.95 $997.02 $0.00 $273.54 $49,649.51
45 $49,649.51 $997.02 $0.00 $280.73 $50,927.26
46 $50,927.26 $997.02 $0.00 $287.95 $52,212.23
47 $52,212.23 $997.02 $0.00 $295.22 $53,504.47
48 $53,504.47 $997.02 $0.00 $302.52 $54,804.01
49 $54,804.01 $997.02 $0.00 $309.87 $56,110.90
50 $56,110.90 $997.02 $0.00 $317.26 $57,425.18
51 $57,425.18 $997.02 $0.00 $324.69 $58,746.89
52 $58,746.89 $997.02 $0.00 $332.16 $60,076.07
53 $60,076.07 $997.02 $0.00 $339.68 $61,412.77
54 $61,412.77 $997.02 $0.00 $347.24 $62,757.03
55 $62,757.03 $997.02 $0.00 $354.84 $64,108.89
56 $64,108.89 $997.02 $0.00 $362.48 $65,468.39
57 $65,468.39 $997.02 $0.00 $370.17 $66,835.58
58 $66,835.58 $997.02 $0.00 $377.90 $68,210.50
59 $68,210.50 $997.02 $0.00 $385.67 $69,593.19
60 $69,593.19 $997.02 $0.00 $393.49 $70,983.70
61 $70,983.70 $997.02 $0.00 $401.35 $72,382.07
62 $72,382.07 $997.02 $0.00 $409.26 $73,788.35
63 $73,788.35 $997.02 $0.00 $417.21 $75,202.58
64 $75,202.58 $997.02 $0.00 $425.21 $76,624.81
65 $76,624.81 $997.02 $0.00 $433.25 $78,055.08
66 $78,055.08 $997.02 $0.00 $441.33 $79,493.43
67 $79,493.43 $997.02 $0.00 $449.47 $80,939.92
68 $80,939.92 $997.02 $0.00 $457.65 $82,394.59
69 $82,394.59 $997.02 $0.00 $465.87 $83,857.48
70 $83,857.48 $997.02 $0.00 $474.14 $85,328.64
71 $85,328.64 $997.02 $0.00 $482.46 $86,808.12
72 $86,808.12 $997.02 $0.00 $490.83 $88,295.97
73 $88,295.97 $997.02 $0.00 $499.24 $89,792.23
74 $89,792.23 $997.02 $0.00 $507.70 $91,296.95
75 $91,296.95 $997.02 $0.00 $516.21 $92,810.18
76 $92,810.18 $997.02 $0.00 $524.76 $94,331.96
77 $94,331.96 $997.02 $0.00 $533.37 $95,862.35
78 $95,862.35 $997.02 $0.00 $542.02 $97,401.39
79 $97,401.39 $997.02 $0.00 $550.72 $98,949.13
80 $98,949.13 $997.02 $0.00 $559.47 $100,505.62
81 $100,505.62 $997.02 $0.00 $568.27 $102,070.91
82 $102,070.91 $997.02 $0.00 $577.12 $103,645.05
83 $103,645.05 $997.02 $0.00 $586.02 $105,228.09
84 $105,228.09 $997.02 $0.00 $594.97 $106,820.08
85 $106,820.08 $997.02 $0.00 $603.98 $108,421.08
86 $108,421.08 $997.02 $0.00 $613.03 $110,031.13
87 $110,031.13 $997.02 $0.00 $622.13 $111,650.28
88 $111,650.28 $997.02 $0.00 $631.29 $113,278.59
89 $113,278.59 $997.02 $0.00 $640.49 $114,916.10
90 $114,916.10 $997.02 $0.00 $649.75 $116,562.87
91 $116,562.87 $997.02 $0.00 $659.06 $118,218.95
92 $118,218.95 $997.02 $0.00 $668.43 $119,884.40
93 $119,884.40 $997.02 $0.00 $677.84 $121,559.26
94 $121,559.26 $997.02 $0.00 $687.31 $123,243.59
95 $123,243.59 $997.02 $0.00 $696.84 $124,937.45
96 $124,937.45 $997.02 $0.00 $706.41 $126,640.88
97 $126,640.88 $997.02 $0.00 $716.05 $128,353.95
98 $128,353.95 $997.02 $0.00 $725.73 $130,076.70
99 $130,076.70 $997.02 $0.00 $735.47 $131,809.19
100 $131,809.19 $997.02 $0.00 $745.27 $133,551.48
101 $133,551.48 $997.02 $0.00 $755.12 $135,303.62
102 $135,303.62 $997.02 $0.00 $765.03 $137,065.67
103 $137,065.67 $997.02 $0.00 $774.99 $138,837.68
104 $138,837.68 $997.02 $0.00 $785.01 $140,619.71
105 $140,619.71 $997.02 $0.00 $795.08 $142,411.81
106 $142,411.81 $997.02 $0.00 $805.22 $144,214.05
107 $144,214.05 $997.02 $0.00 $815.41 $146,026.48
108 $146,026.48 $997.02 $0.00 $825.65 $147,849.15
109 $147,849.15 $997.02 $0.00 $835.96 $149,682.13
110 $149,682.13 $997.02 $0.00 $846.32 $151,525.47
111 $151,525.47 $997.02 $0.00 $856.75 $153,379.24
112 $153,379.24 $997.02 $0.00 $867.23 $155,243.49
113 $155,243.49 $997.02 $0.00 $877.77 $157,118.28
114 $157,118.28 $997.02 $0.00 $888.37 $159,003.67
115 $159,003.67 $997.02 $0.00 $899.03 $160,899.72
116 $160,899.72 $997.02 $0.00 $909.75 $162,806.49
117 $162,806.49 $997.02 $0.00 $920.53 $164,724.04
118 $164,724.04 $997.02 $0.00 $931.37 $166,652.43
119 $166,652.43 $997.02 $0.00 $942.28 $168,591.73
120 $168,591.73 $997.02 $0.00 $953.24 $170,541.99
121 $170,541.99 $997.02 $0.00 $964.27 $172,503.28
122 $172,503.28 $997.02 $0.00 $975.36 $174,475.66
123 $174,475.66 $997.02 $0.00 $986.51 $176,459.19
124 $176,459.19 $997.02 $0.00 $997.73 $178,453.94
125 $178,453.94 $997.02 $0.00 $1,009.00 $180,459.96
126 $180,459.96 $997.02 $0.00 $1,020.35 $182,477.33
127 $182,477.33 $997.02 $0.00 $1,031.75 $184,506.10
128 $184,506.10 $997.02 $0.00 $1,043.22 $186,546.34
129 $186,546.34 $997.02 $0.00 $1,054.76 $188,598.12
130 $188,598.12 $997.02 $0.00 $1,066.36 $190,661.50
131 $190,661.50 $997.02 $0.00 $1,078.03 $192,736.55
132 $192,736.55 $997.02 $0.00 $1,089.76 $194,823.33
133 $194,823.33 $997.02 $0.00 $1,101.56 $196,921.91
134 $196,921.91 $997.02 $0.00 $1,113.43 $199,032.36
135 $199,032.36 $997.02 $0.00 $1,125.36 $201,154.74
136 $201,154.74 $997.02 $0.00 $1,137.36 $203,289.12
137 $203,289.12 $997.02 $0.00 $1,149.43 $205,435.57
138 $205,435.57 $997.02 $0.00 $1,161.56 $207,594.15
139 $207,594.15 $997.02 $0.00 $1,173.77 $209,764.94
140 $209,764.94 $997.02 $0.00 $1,186.04 $211,948.00
141 $211,948.00 $997.02 $0.00 $1,198.38 $214,143.40
142 $214,143.40 $997.02 $0.00 $1,210.80 $216,351.22
143 $216,351.22 $997.02 $0.00 $1,223.28 $218,571.52
144 $218,571.52 $997.02 $0.00 $1,235.84 $220,804.38
145 $220,804.38 $997.02 $0.00 $1,248.46 $223,049.86
146 $223,049.86 $997.02 $0.00 $1,261.16 $225,308.04
147 $225,308.04 $997.02 $0.00 $1,273.92 $227,578.98
148 $227,578.98 $997.02 $0.00 $1,286.76 $229,862.76
149 $229,862.76 $997.02 $0.00 $1,299.68 $232,159.46
150 $232,159.46 $997.02 $0.00 $1,312.66 $234,469.14
151 $234,469.14 $997.02 $0.00 $1,325.72 $236,791.88
152 $236,791.88 $997.02 $0.00 $1,338.86 $239,127.76
153 $239,127.76 $997.02 $0.00 $1,352.06 $241,476.84
154 $241,476.84 $997.02 $0.00 $1,365.35 $243,839.21
155 $243,839.21 $997.02 $0.00 $1,378.70 $246,214.93
156 $246,214.93 $997.02 $0.00 $1,392.14 $248,604.09
157 $248,604.09 $997.02 $0.00 $1,405.64 $251,006.75
158 $251,006.75 $997.02 $0.00 $1,419.23 $253,423.00
159 $253,423.00 $997.02 $0.00 $1,432.89 $255,852.91
160 $255,852.91 $997.02 $0.00 $1,446.63 $258,296.56
161 $258,296.56 $997.02 $0.00 $1,460.45 $260,754.03
162 $260,754.03 $997.02 $0.00 $1,474.34 $263,225.39
163 $263,225.39 $997.02 $0.00 $1,488.31 $265,710.72
164 $265,710.72 $997.02 $0.00 $1,502.37 $268,210.11
165 $268,210.11 $997.02 $0.00 $1,516.50 $270,723.63
166 $270,723.63 $997.02 $0.00 $1,530.71 $273,251.36
167 $273,251.36 $997.02 $0.00 $1,545.00 $275,793.38
168 $275,793.38 $997.02 $0.00 $1,559.38 $278,349.78
169 $278,349.78 $997.02 $0.00 $1,573.83 $280,920.63
170 $280,920.63 $997.02 $0.00 $1,588.37 $283,506.02
171 $283,506.02 $997.02 $0.00 $1,602.98 $286,106.02
172 $286,106.02 $997.02 $0.00 $1,617.69 $288,720.73
173 $288,720.73 $997.02 $0.00 $1,632.47 $291,350.22
174 $291,350.22 $997.02 $0.00 $1,647.34 $293,994.58
175 $293,994.58 $997.02 $0.00 $1,662.29 $296,653.89
176 $296,653.89 $997.02 $0.00 $1,677.32 $299,328.23
177 $299,328.23 $997.02 $0.00 $1,692.45 $302,017.70
178 $302,017.70 $997.02 $0.00 $1,707.65 $304,722.37
179 $304,722.37 $997.02 $0.00 $1,722.94 $307,442.33
180 $307,442.33 $997.02 $0.00 $1,738.32 $310,177.67
181 $310,177.67 $997.02 $0.00 $1,753.79 $312,928.48
182 $312,928.48 $997.02 $0.00 $1,769.34 $315,694.84
183 $315,694.84 $997.02 $0.00 $1,784.98 $318,476.84
184 $318,476.84 $997.02 $0.00 $1,800.71 $321,274.57
185 $321,274.57 $997.02 $0.00 $1,816.53 $324,088.12
186 $324,088.12 $997.02 $0.00 $1,832.44 $326,917.58
187 $326,917.58 $997.02 $0.00 $1,848.44 $329,763.04
188 $329,763.04 $997.02 $0.00 $1,864.53 $332,624.59
189 $332,624.59 $997.02 $0.00 $1,880.71 $335,502.32
190 $335,502.32 $997.02 $0.00 $1,896.98 $338,396.32
191 $338,396.32 $997.02 $0.00 $1,913.34 $341,306.68
192 $341,306.68 $997.02 $0.00 $1,929.80 $344,233.50
193 $344,233.50 $997.02 $0.00 $1,946.35 $347,176.87
194 $347,176.87 $997.02 $0.00 $1,962.99 $350,136.88
195 $350,136.88 $997.02 $0.00 $1,979.72 $353,113.62
196 $353,113.62 $997.02 $0.00 $1,996.56 $356,107.20
197 $356,107.20 $997.02 $0.00 $2,013.48 $359,117.70
198 $359,117.70 $997.02 $0.00 $2,030.50 $362,145.22
199 $362,145.22 $997.02 $0.00 $2,047.62 $365,189.86
200 $365,189.86 $997.02 $0.00 $2,064.84 $368,251.72
201 $368,251.72 $997.02 $0.00 $2,082.15 $371,330.89
202 $371,330.89 $997.02 $0.00 $2,099.56 $374,427.47
203 $374,427.47 $997.02 $0.00 $2,117.07 $377,541.56
204 $377,541.56 $997.02 $0.00 $2,134.67 $380,673.25
205 $380,673.25 $997.02 $0.00 $2,152.38 $383,822.65
206 $383,822.65 $997.02 $0.00 $2,170.19 $386,989.86
207 $386,989.86 $997.02 $0.00 $2,188.10 $390,174.98
208 $390,174.98 $997.02 $0.00 $2,206.11 $393,378.11
209 $393,378.11 $997.02 $0.00 $2,224.22 $396,599.35
210 $396,599.35 $997.02 $0.00 $2,242.43 $399,838.80
211 $399,838.80 $997.02 $0.00 $2,260.75 $403,096.57
212 $403,096.57 $997.02 $0.00 $2,279.17 $406,372.76
213 $406,372.76 $997.02 $0.00 $2,297.69 $409,667.47
214 $409,667.47 $997.02 $0.00 $2,316.32 $412,980.81
215 $412,980.81 $997.02 $0.00 $2,335.05 $416,312.88
216 $416,312.88 $997.02 $0.00 $2,353.89 $419,663.79
217 $419,663.79 $997.02 $116,889.50 $2,372.84 $306,144.15
218 $306,144.15 $997.02 $0.00 $1,730.98 $308,872.15
219 $308,872.15 $997.02 $0.00 $1,746.41 $311,615.58
220 $311,615.58 $997.02 $0.00 $1,761.92 $314,374.52
221 $314,374.52 $997.02 $0.00 $1,777.52 $317,149.06
222 $317,149.06 $997.02 $0.00 $1,793.21 $319,939.29
223 $319,939.29 $997.02 $0.00 $1,808.98 $322,745.29
224 $322,745.29 $997.02 $0.00 $1,824.85 $325,567.16
225 $325,567.16 $997.02 $0.00 $1,840.80 $328,404.98
226 $328,404.98 $997.02 $0.00 $1,856.85 $331,258.85
227 $331,258.85 $997.02 $0.00 $1,872.99 $334,128.86
228 $334,128.86 $997.02 $0.00 $1,889.21 $337,015.09
229 $337,015.09 $997.02 $122,733.97 $1,905.53 $217,183.67
230 $217,183.67 $997.02 $0.00 $1,227.99 $219,408.68
231 $219,408.68 $997.02 $0.00 $1,240.57 $221,646.27
232 $221,646.27 $997.02 $0.00 $1,253.22 $223,896.51
233 $223,896.51 $997.02 $0.00 $1,265.94 $226,159.47
234 $226,159.47 $997.02 $0.00 $1,278.74 $228,435.23
235 $228,435.23 $997.02 $0.00 $1,291.61 $230,723.86
236 $230,723.86 $997.02 $0.00 $1,304.55 $233,025.43
237 $233,025.43 $997.02 $0.00 $1,317.56 $235,340.01
238 $235,340.01 $997.02 $0.00 $1,330.65 $237,667.68
239 $237,667.68 $997.02 $0.00 $1,343.81 $240,008.51
240 $240,008.51 $997.02 $0.00 $1,357.04 $242,362.57
241 $242,362.57 $997.02 $128,870.67 $1,370.35 $115,859.27
242 $115,859.27 $997.02 $0.00 $655.09 $117,511.38
243 $117,511.38 $997.02 $0.00 $664.43 $119,172.83
244 $119,172.83 $997.02 $0.00 $673.82 $120,843.67
245 $120,843.67 $997.02 $0.00 $683.27 $122,523.96
246 $122,523.96 $997.02 $0.00 $692.77 $124,213.75
247 $124,213.75 $997.02 $0.00 $702.32 $125,913.09
248 $125,913.09 $997.02 $0.00 $711.93 $127,622.04
249 $127,622.04 $997.02 $0.00 $721.59 $129,340.65
250 $129,340.65 $997.02 $0.00 $731.31 $131,068.98
251 $131,068.98 $997.02 $0.00 $741.08 $132,807.08
252 $132,807.08 $997.02 $0.00 $750.91 $134,555.01
253 $134,555.01 $0.00 $135,314.20 $760.79 $1.60