Savings Plan and Future Cost Estimation for Belmont Abbey College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$85,550
Monthly savings required$677

How much will it cost to send your child to Belmont Abbey College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $342,199.65 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $677.20 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$32,990.00
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 $677.20 $0.00 $0.00 $677.20
2 $677.20 $677.20 $0.00 $3.83 $1,358.23
3 $1,358.23 $677.20 $0.00 $7.68 $2,043.11
4 $2,043.11 $677.20 $0.00 $11.55 $2,731.86
5 $2,731.86 $677.20 $0.00 $15.45 $3,424.51
6 $3,424.51 $677.20 $0.00 $19.36 $4,121.07
7 $4,121.07 $677.20 $0.00 $23.30 $4,821.57
8 $4,821.57 $677.20 $0.00 $27.26 $5,526.03
9 $5,526.03 $677.20 $0.00 $31.24 $6,234.47
10 $6,234.47 $677.20 $0.00 $35.25 $6,946.92
11 $6,946.92 $677.20 $0.00 $39.28 $7,663.40
12 $7,663.40 $677.20 $0.00 $43.33 $8,383.93
13 $8,383.93 $677.20 $0.00 $47.40 $9,108.53
14 $9,108.53 $677.20 $0.00 $51.50 $9,837.23
15 $9,837.23 $677.20 $0.00 $55.62 $10,570.05
16 $10,570.05 $677.20 $0.00 $59.76 $11,307.01
17 $11,307.01 $677.20 $0.00 $63.93 $12,048.14
18 $12,048.14 $677.20 $0.00 $68.12 $12,793.46
19 $12,793.46 $677.20 $0.00 $72.34 $13,543.00
20 $13,543.00 $677.20 $0.00 $76.57 $14,296.77
21 $14,296.77 $677.20 $0.00 $80.84 $15,054.81
22 $15,054.81 $677.20 $0.00 $85.12 $15,817.13
23 $15,817.13 $677.20 $0.00 $89.43 $16,583.76
24 $16,583.76 $677.20 $0.00 $93.77 $17,354.73
25 $17,354.73 $677.20 $0.00 $98.13 $18,130.06
26 $18,130.06 $677.20 $0.00 $102.51 $18,909.77
27 $18,909.77 $677.20 $0.00 $106.92 $19,693.89
28 $19,693.89 $677.20 $0.00 $111.35 $20,482.44
29 $20,482.44 $677.20 $0.00 $115.81 $21,275.45
30 $21,275.45 $677.20 $0.00 $120.29 $22,072.94
31 $22,072.94 $677.20 $0.00 $124.80 $22,874.94
32 $22,874.94 $677.20 $0.00 $129.34 $23,681.48
33 $23,681.48 $677.20 $0.00 $133.90 $24,492.58
34 $24,492.58 $677.20 $0.00 $138.48 $25,308.26
35 $25,308.26 $677.20 $0.00 $143.10 $26,128.56
36 $26,128.56 $677.20 $0.00 $147.73 $26,953.49
37 $26,953.49 $677.20 $0.00 $152.40 $27,783.09
38 $27,783.09 $677.20 $0.00 $157.09 $28,617.38
39 $28,617.38 $677.20 $0.00 $161.81 $29,456.39
40 $29,456.39 $677.20 $0.00 $166.55 $30,300.14
41 $30,300.14 $677.20 $0.00 $171.32 $31,148.66
42 $31,148.66 $677.20 $0.00 $176.12 $32,001.98
43 $32,001.98 $677.20 $0.00 $180.94 $32,860.12
44 $32,860.12 $677.20 $0.00 $185.80 $33,723.12
45 $33,723.12 $677.20 $0.00 $190.68 $34,591.00
46 $34,591.00 $677.20 $0.00 $195.58 $35,463.78
47 $35,463.78 $677.20 $0.00 $200.52 $36,341.50
48 $36,341.50 $677.20 $0.00 $205.48 $37,224.18
49 $37,224.18 $677.20 $0.00 $210.47 $38,111.85
50 $38,111.85 $677.20 $0.00 $215.49 $39,004.54
51 $39,004.54 $677.20 $0.00 $220.54 $39,902.28
52 $39,902.28 $677.20 $0.00 $225.61 $40,805.09
53 $40,805.09 $677.20 $0.00 $230.72 $41,713.01
54 $41,713.01 $677.20 $0.00 $235.85 $42,626.06
55 $42,626.06 $677.20 $0.00 $241.01 $43,544.27
56 $43,544.27 $677.20 $0.00 $246.21 $44,467.68
57 $44,467.68 $677.20 $0.00 $251.43 $45,396.31
58 $45,396.31 $677.20 $0.00 $256.68 $46,330.19
59 $46,330.19 $677.20 $0.00 $261.96 $47,269.35
60 $47,269.35 $677.20 $0.00 $267.27 $48,213.82
61 $48,213.82 $677.20 $0.00 $272.61 $49,163.63
62 $49,163.63 $677.20 $0.00 $277.98 $50,118.81
63 $50,118.81 $677.20 $0.00 $283.38 $51,079.39
64 $51,079.39 $677.20 $0.00 $288.81 $52,045.40
65 $52,045.40 $677.20 $0.00 $294.27 $53,016.87
66 $53,016.87 $677.20 $0.00 $299.77 $53,993.84
67 $53,993.84 $677.20 $0.00 $305.29 $54,976.33
68 $54,976.33 $677.20 $0.00 $310.84 $55,964.37
69 $55,964.37 $677.20 $0.00 $316.43 $56,958.00
70 $56,958.00 $677.20 $0.00 $322.05 $57,957.25
71 $57,957.25 $677.20 $0.00 $327.70 $58,962.15
72 $58,962.15 $677.20 $0.00 $333.38 $59,972.73
73 $59,972.73 $677.20 $0.00 $339.09 $60,989.02
74 $60,989.02 $677.20 $0.00 $344.84 $62,011.06
75 $62,011.06 $677.20 $0.00 $350.62 $63,038.88
76 $63,038.88 $677.20 $0.00 $356.43 $64,072.51
77 $64,072.51 $677.20 $0.00 $362.28 $65,111.99
78 $65,111.99 $677.20 $0.00 $368.15 $66,157.34
79 $66,157.34 $677.20 $0.00 $374.06 $67,208.60
80 $67,208.60 $677.20 $0.00 $380.01 $68,265.81
81 $68,265.81 $677.20 $0.00 $385.98 $69,328.99
82 $69,328.99 $677.20 $0.00 $392.00 $70,398.19
83 $70,398.19 $677.20 $0.00 $398.04 $71,473.43
84 $71,473.43 $677.20 $0.00 $404.12 $72,554.75
85 $72,554.75 $677.20 $0.00 $410.24 $73,642.19
86 $73,642.19 $677.20 $0.00 $416.38 $74,735.77
87 $74,735.77 $677.20 $0.00 $422.57 $75,835.54
88 $75,835.54 $677.20 $0.00 $428.79 $76,941.53
89 $76,941.53 $677.20 $0.00 $435.04 $78,053.77
90 $78,053.77 $677.20 $0.00 $441.33 $79,172.30
91 $79,172.30 $677.20 $0.00 $447.65 $80,297.15
92 $80,297.15 $677.20 $0.00 $454.01 $81,428.36
93 $81,428.36 $677.20 $0.00 $460.41 $82,565.97
94 $82,565.97 $677.20 $0.00 $466.84 $83,710.01
95 $83,710.01 $677.20 $0.00 $473.31 $84,860.52
96 $84,860.52 $677.20 $0.00 $479.81 $86,017.53
97 $86,017.53 $677.20 $0.00 $486.36 $87,181.09
98 $87,181.09 $677.20 $0.00 $492.93 $88,351.22
99 $88,351.22 $677.20 $0.00 $499.55 $89,527.97
100 $89,527.97 $677.20 $0.00 $506.20 $90,711.37
101 $90,711.37 $677.20 $0.00 $512.90 $91,901.47
102 $91,901.47 $677.20 $0.00 $519.62 $93,098.29
103 $93,098.29 $677.20 $0.00 $526.39 $94,301.88
104 $94,301.88 $677.20 $0.00 $533.20 $95,512.28
105 $95,512.28 $677.20 $0.00 $540.04 $96,729.52
106 $96,729.52 $677.20 $0.00 $546.92 $97,953.64
107 $97,953.64 $677.20 $0.00 $553.84 $99,184.68
108 $99,184.68 $677.20 $0.00 $560.80 $100,422.68
109 $100,422.68 $677.20 $0.00 $567.80 $101,667.68
110 $101,667.68 $677.20 $0.00 $574.84 $102,919.72
111 $102,919.72 $677.20 $0.00 $581.92 $104,178.84
112 $104,178.84 $677.20 $0.00 $589.04 $105,445.08
113 $105,445.08 $677.20 $0.00 $596.20 $106,718.48
114 $106,718.48 $677.20 $0.00 $603.40 $107,999.08
115 $107,999.08 $677.20 $0.00 $610.64 $109,286.92
116 $109,286.92 $677.20 $0.00 $617.92 $110,582.04
117 $110,582.04 $677.20 $0.00 $625.25 $111,884.49
118 $111,884.49 $677.20 $0.00 $632.61 $113,194.30
119 $113,194.30 $677.20 $0.00 $640.02 $114,511.52
120 $114,511.52 $677.20 $0.00 $647.46 $115,836.18
121 $115,836.18 $677.20 $0.00 $654.95 $117,168.33
122 $117,168.33 $677.20 $0.00 $662.49 $118,508.02
123 $118,508.02 $677.20 $0.00 $670.06 $119,855.28
124 $119,855.28 $677.20 $0.00 $677.68 $121,210.16
125 $121,210.16 $677.20 $0.00 $685.34 $122,572.70
126 $122,572.70 $677.20 $0.00 $693.04 $123,942.94
127 $123,942.94 $677.20 $0.00 $700.79 $125,320.93
128 $125,320.93 $677.20 $0.00 $708.58 $126,706.71
129 $126,706.71 $677.20 $0.00 $716.42 $128,100.33
130 $128,100.33 $677.20 $0.00 $724.30 $129,501.83
131 $129,501.83 $677.20 $0.00 $732.22 $130,911.25
132 $130,911.25 $677.20 $0.00 $740.19 $132,328.64
133 $132,328.64 $677.20 $0.00 $748.21 $133,754.05
134 $133,754.05 $677.20 $0.00 $756.26 $135,187.51
135 $135,187.51 $677.20 $0.00 $764.37 $136,629.08
136 $136,629.08 $677.20 $0.00 $772.52 $138,078.80
137 $138,078.80 $677.20 $0.00 $780.72 $139,536.72
138 $139,536.72 $677.20 $0.00 $788.96 $141,002.88
139 $141,002.88 $677.20 $0.00 $797.25 $142,477.33
140 $142,477.33 $677.20 $0.00 $805.59 $143,960.12
141 $143,960.12 $677.20 $0.00 $813.97 $145,451.29
142 $145,451.29 $677.20 $0.00 $822.40 $146,950.89
143 $146,950.89 $677.20 $0.00 $830.88 $148,458.97
144 $148,458.97 $677.20 $0.00 $839.41 $149,975.58
145 $149,975.58 $677.20 $0.00 $847.98 $151,500.76
146 $151,500.76 $677.20 $0.00 $856.61 $153,034.57
147 $153,034.57 $677.20 $0.00 $865.28 $154,577.05
148 $154,577.05 $677.20 $0.00 $874.00 $156,128.25
149 $156,128.25 $677.20 $0.00 $882.77 $157,688.22
150 $157,688.22 $677.20 $0.00 $891.59 $159,257.01
151 $159,257.01 $677.20 $0.00 $900.46 $160,834.67
152 $160,834.67 $677.20 $0.00 $909.38 $162,421.25
153 $162,421.25 $677.20 $0.00 $918.35 $164,016.80
154 $164,016.80 $677.20 $0.00 $927.37 $165,621.37
155 $165,621.37 $677.20 $0.00 $936.45 $167,235.02
156 $167,235.02 $677.20 $0.00 $945.57 $168,857.79
157 $168,857.79 $677.20 $0.00 $954.75 $170,489.74
158 $170,489.74 $677.20 $0.00 $963.97 $172,130.91
159 $172,130.91 $677.20 $0.00 $973.25 $173,781.36
160 $173,781.36 $677.20 $0.00 $982.59 $175,441.15
161 $175,441.15 $677.20 $0.00 $991.97 $177,110.32
162 $177,110.32 $677.20 $0.00 $1,001.41 $178,788.93
163 $178,788.93 $677.20 $0.00 $1,010.90 $180,477.03
164 $180,477.03 $677.20 $0.00 $1,020.44 $182,174.67
165 $182,174.67 $677.20 $0.00 $1,030.04 $183,881.91
166 $183,881.91 $677.20 $0.00 $1,039.70 $185,598.81
167 $185,598.81 $677.20 $0.00 $1,049.40 $187,325.41
168 $187,325.41 $677.20 $0.00 $1,059.17 $189,061.78
169 $189,061.78 $677.20 $0.00 $1,068.98 $190,807.96
170 $190,807.96 $677.20 $0.00 $1,078.86 $192,564.02
171 $192,564.02 $677.20 $0.00 $1,088.78 $194,330.00
172 $194,330.00 $677.20 $0.00 $1,098.77 $196,105.97
173 $196,105.97 $677.20 $0.00 $1,108.81 $197,891.98
174 $197,891.98 $677.20 $0.00 $1,118.91 $199,688.09
175 $199,688.09 $677.20 $0.00 $1,129.07 $201,494.36
176 $201,494.36 $677.20 $0.00 $1,139.28 $203,310.84
177 $203,310.84 $677.20 $0.00 $1,149.55 $205,137.59
178 $205,137.59 $677.20 $0.00 $1,159.88 $206,974.67
179 $206,974.67 $677.20 $0.00 $1,170.26 $208,822.13
180 $208,822.13 $677.20 $0.00 $1,180.71 $210,680.04
181 $210,680.04 $677.20 $0.00 $1,191.22 $212,548.46
182 $212,548.46 $677.20 $0.00 $1,201.78 $214,427.44
183 $214,427.44 $677.20 $0.00 $1,212.40 $216,317.04
184 $216,317.04 $677.20 $0.00 $1,223.09 $218,217.33
185 $218,217.33 $677.20 $0.00 $1,233.83 $220,128.36
186 $220,128.36 $677.20 $0.00 $1,244.64 $222,050.20
187 $222,050.20 $677.20 $0.00 $1,255.50 $223,982.90
188 $223,982.90 $677.20 $0.00 $1,266.43 $225,926.53
189 $225,926.53 $677.20 $0.00 $1,277.42 $227,881.15
190 $227,881.15 $677.20 $0.00 $1,288.47 $229,846.82
191 $229,846.82 $677.20 $0.00 $1,299.59 $231,823.61
192 $231,823.61 $677.20 $0.00 $1,310.76 $233,811.57
193 $233,811.57 $677.20 $0.00 $1,322.00 $235,810.77
194 $235,810.77 $677.20 $0.00 $1,333.31 $237,821.28
195 $237,821.28 $677.20 $0.00 $1,344.68 $239,843.16
196 $239,843.16 $677.20 $0.00 $1,356.11 $241,876.47
197 $241,876.47 $677.20 $0.00 $1,367.60 $243,921.27
198 $243,921.27 $677.20 $0.00 $1,379.17 $245,977.64
199 $245,977.64 $677.20 $0.00 $1,390.79 $248,045.63
200 $248,045.63 $677.20 $0.00 $1,402.49 $250,125.32
201 $250,125.32 $677.20 $0.00 $1,414.24 $252,216.76
202 $252,216.76 $677.20 $0.00 $1,426.07 $254,320.03
203 $254,320.03 $677.20 $0.00 $1,437.96 $256,435.19
204 $256,435.19 $677.20 $0.00 $1,449.92 $258,562.31
205 $258,562.31 $677.20 $0.00 $1,461.95 $260,701.46
206 $260,701.46 $677.20 $0.00 $1,474.04 $262,852.70
207 $262,852.70 $677.20 $0.00 $1,486.21 $265,016.11
208 $265,016.11 $677.20 $0.00 $1,498.44 $267,191.75
209 $267,191.75 $677.20 $0.00 $1,510.74 $269,379.69
210 $269,379.69 $677.20 $0.00 $1,523.11 $271,580.00
211 $271,580.00 $677.20 $0.00 $1,535.55 $273,792.75
212 $273,792.75 $677.20 $0.00 $1,548.06 $276,018.01
213 $276,018.01 $677.20 $0.00 $1,560.65 $278,255.86
214 $278,255.86 $677.20 $0.00 $1,573.30 $280,506.36
215 $280,506.36 $677.20 $0.00 $1,586.02 $282,769.58
216 $282,769.58 $677.20 $0.00 $1,598.82 $285,045.60
217 $285,045.60 $677.20 $79,394.37 $1,611.69 $207,940.12
218 $207,940.12 $677.20 $0.00 $1,175.72 $209,793.04
219 $209,793.04 $677.20 $0.00 $1,186.20 $211,656.44
220 $211,656.44 $677.20 $0.00 $1,196.74 $213,530.38
221 $213,530.38 $677.20 $0.00 $1,207.33 $215,414.91
222 $215,414.91 $677.20 $0.00 $1,217.99 $217,310.10
223 $217,310.10 $677.20 $0.00 $1,228.70 $219,216.00
224 $219,216.00 $677.20 $0.00 $1,239.48 $221,132.68
225 $221,132.68 $677.20 $0.00 $1,250.32 $223,060.20
226 $223,060.20 $677.20 $0.00 $1,261.21 $224,998.61
227 $224,998.61 $677.20 $0.00 $1,272.17 $226,947.98
228 $226,947.98 $677.20 $0.00 $1,283.20 $228,908.38
229 $228,908.38 $677.20 $83,364.09 $1,294.28 $147,515.77
230 $147,515.77 $677.20 $0.00 $834.08 $149,027.05
231 $149,027.05 $677.20 $0.00 $842.62 $150,546.87
232 $150,546.87 $677.20 $0.00 $851.21 $152,075.28
233 $152,075.28 $677.20 $0.00 $859.86 $153,612.34
234 $153,612.34 $677.20 $0.00 $868.55 $155,158.09
235 $155,158.09 $677.20 $0.00 $877.29 $156,712.58
236 $156,712.58 $677.20 $0.00 $886.08 $158,275.86
237 $158,275.86 $677.20 $0.00 $894.91 $159,847.97
238 $159,847.97 $677.20 $0.00 $903.80 $161,428.97
239 $161,428.97 $677.20 $0.00 $912.74 $163,018.91
240 $163,018.91 $677.20 $0.00 $921.73 $164,617.84
241 $164,617.84 $677.20 $87,532.29 $930.77 $78,693.52
242 $78,693.52 $677.20 $0.00 $444.94 $79,815.66
243 $79,815.66 $677.20 $0.00 $451.29 $80,944.15
244 $80,944.15 $677.20 $0.00 $457.67 $82,079.02
245 $82,079.02 $677.20 $0.00 $464.09 $83,220.31
246 $83,220.31 $677.20 $0.00 $470.54 $84,368.05
247 $84,368.05 $677.20 $0.00 $477.03 $85,522.28
248 $85,522.28 $677.20 $0.00 $483.56 $86,683.04
249 $86,683.04 $677.20 $0.00 $490.12 $87,850.36
250 $87,850.36 $677.20 $0.00 $496.72 $89,024.28
251 $89,024.28 $677.20 $0.00 $503.36 $90,204.84
252 $90,204.84 $677.20 $0.00 $510.03 $91,392.07
253 $91,392.07 $0.00 $91,908.91 $516.74 ($0.10)