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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$67,968
Monthly savings required$538

How much will it cost to send your child to Laurel University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $271,871.87 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $538.02 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$26,210.00
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 $538.02 $0.00 $0.00 $538.02
2 $538.02 $538.02 $0.00 $3.04 $1,079.08
3 $1,079.08 $538.02 $0.00 $6.10 $1,623.20
4 $1,623.20 $538.02 $0.00 $9.18 $2,170.40
5 $2,170.40 $538.02 $0.00 $12.27 $2,720.69
6 $2,720.69 $538.02 $0.00 $15.38 $3,274.09
7 $3,274.09 $538.02 $0.00 $18.51 $3,830.62
8 $3,830.62 $538.02 $0.00 $21.66 $4,390.30
9 $4,390.30 $538.02 $0.00 $24.82 $4,953.14
10 $4,953.14 $538.02 $0.00 $28.01 $5,519.17
11 $5,519.17 $538.02 $0.00 $31.21 $6,088.40
12 $6,088.40 $538.02 $0.00 $34.42 $6,660.84
13 $6,660.84 $538.02 $0.00 $37.66 $7,236.52
14 $7,236.52 $538.02 $0.00 $40.92 $7,815.46
15 $7,815.46 $538.02 $0.00 $44.19 $8,397.67
16 $8,397.67 $538.02 $0.00 $47.48 $8,983.17
17 $8,983.17 $538.02 $0.00 $50.79 $9,571.98
18 $9,571.98 $538.02 $0.00 $54.12 $10,164.12
19 $10,164.12 $538.02 $0.00 $57.47 $10,759.61
20 $10,759.61 $538.02 $0.00 $60.84 $11,358.47
21 $11,358.47 $538.02 $0.00 $64.22 $11,960.71
22 $11,960.71 $538.02 $0.00 $67.63 $12,566.36
23 $12,566.36 $538.02 $0.00 $71.05 $13,175.43
24 $13,175.43 $538.02 $0.00 $74.50 $13,787.95
25 $13,787.95 $538.02 $0.00 $77.96 $14,403.93
26 $14,403.93 $538.02 $0.00 $81.44 $15,023.39
27 $15,023.39 $538.02 $0.00 $84.94 $15,646.35
28 $15,646.35 $538.02 $0.00 $88.47 $16,272.84
29 $16,272.84 $538.02 $0.00 $92.01 $16,902.87
30 $16,902.87 $538.02 $0.00 $95.57 $17,536.46
31 $17,536.46 $538.02 $0.00 $99.15 $18,173.63
32 $18,173.63 $538.02 $0.00 $102.76 $18,814.41
33 $18,814.41 $538.02 $0.00 $106.38 $19,458.81
34 $19,458.81 $538.02 $0.00 $110.02 $20,106.85
35 $20,106.85 $538.02 $0.00 $113.69 $20,758.56
36 $20,758.56 $538.02 $0.00 $117.37 $21,413.95
37 $21,413.95 $538.02 $0.00 $121.08 $22,073.05
38 $22,073.05 $538.02 $0.00 $124.80 $22,735.87
39 $22,735.87 $538.02 $0.00 $128.55 $23,402.44
40 $23,402.44 $538.02 $0.00 $132.32 $24,072.78
41 $24,072.78 $538.02 $0.00 $136.11 $24,746.91
42 $24,746.91 $538.02 $0.00 $139.92 $25,424.85
43 $25,424.85 $538.02 $0.00 $143.76 $26,106.63
44 $26,106.63 $538.02 $0.00 $147.61 $26,792.26
45 $26,792.26 $538.02 $0.00 $151.49 $27,481.77
46 $27,481.77 $538.02 $0.00 $155.39 $28,175.18
47 $28,175.18 $538.02 $0.00 $159.31 $28,872.51
48 $28,872.51 $538.02 $0.00 $163.25 $29,573.78
49 $29,573.78 $538.02 $0.00 $167.21 $30,279.01
50 $30,279.01 $538.02 $0.00 $171.20 $30,988.23
51 $30,988.23 $538.02 $0.00 $175.21 $31,701.46
52 $31,701.46 $538.02 $0.00 $179.24 $32,418.72
53 $32,418.72 $538.02 $0.00 $183.30 $33,140.04
54 $33,140.04 $538.02 $0.00 $187.38 $33,865.44
55 $33,865.44 $538.02 $0.00 $191.48 $34,594.94
56 $34,594.94 $538.02 $0.00 $195.60 $35,328.56
57 $35,328.56 $538.02 $0.00 $199.75 $36,066.33
58 $36,066.33 $538.02 $0.00 $203.92 $36,808.27
59 $36,808.27 $538.02 $0.00 $208.12 $37,554.41
60 $37,554.41 $538.02 $0.00 $212.34 $38,304.77
61 $38,304.77 $538.02 $0.00 $216.58 $39,059.37
62 $39,059.37 $538.02 $0.00 $220.85 $39,818.24
63 $39,818.24 $538.02 $0.00 $225.14 $40,581.40
64 $40,581.40 $538.02 $0.00 $229.45 $41,348.87
65 $41,348.87 $538.02 $0.00 $233.79 $42,120.68
66 $42,120.68 $538.02 $0.00 $238.16 $42,896.86
67 $42,896.86 $538.02 $0.00 $242.55 $43,677.43
68 $43,677.43 $538.02 $0.00 $246.96 $44,462.41
69 $44,462.41 $538.02 $0.00 $251.40 $45,251.83
70 $45,251.83 $538.02 $0.00 $255.86 $46,045.71
71 $46,045.71 $538.02 $0.00 $260.35 $46,844.08
72 $46,844.08 $538.02 $0.00 $264.86 $47,646.96
73 $47,646.96 $538.02 $0.00 $269.40 $48,454.38
74 $48,454.38 $538.02 $0.00 $273.97 $49,266.37
75 $49,266.37 $538.02 $0.00 $278.56 $50,082.95
76 $50,082.95 $538.02 $0.00 $283.18 $50,904.15
77 $50,904.15 $538.02 $0.00 $287.82 $51,729.99
78 $51,729.99 $538.02 $0.00 $292.49 $52,560.50
79 $52,560.50 $538.02 $0.00 $297.18 $53,395.70
80 $53,395.70 $538.02 $0.00 $301.91 $54,235.63
81 $54,235.63 $538.02 $0.00 $306.66 $55,080.31
82 $55,080.31 $538.02 $0.00 $311.43 $55,929.76
83 $55,929.76 $538.02 $0.00 $316.23 $56,784.01
84 $56,784.01 $538.02 $0.00 $321.07 $57,643.10
85 $57,643.10 $538.02 $0.00 $325.92 $58,507.04
86 $58,507.04 $538.02 $0.00 $330.81 $59,375.87
87 $59,375.87 $538.02 $0.00 $335.72 $60,249.61
88 $60,249.61 $538.02 $0.00 $340.66 $61,128.29
89 $61,128.29 $538.02 $0.00 $345.63 $62,011.94
90 $62,011.94 $538.02 $0.00 $350.62 $62,900.58
91 $62,900.58 $538.02 $0.00 $355.65 $63,794.25
92 $63,794.25 $538.02 $0.00 $360.70 $64,692.97
93 $64,692.97 $538.02 $0.00 $365.78 $65,596.77
94 $65,596.77 $538.02 $0.00 $370.89 $66,505.68
95 $66,505.68 $538.02 $0.00 $376.03 $67,419.73
96 $67,419.73 $538.02 $0.00 $381.20 $68,338.95
97 $68,338.95 $538.02 $0.00 $386.40 $69,263.37
98 $69,263.37 $538.02 $0.00 $391.63 $70,193.02
99 $70,193.02 $538.02 $0.00 $396.88 $71,127.92
100 $71,127.92 $538.02 $0.00 $402.17 $72,068.11
101 $72,068.11 $538.02 $0.00 $407.48 $73,013.61
102 $73,013.61 $538.02 $0.00 $412.83 $73,964.46
103 $73,964.46 $538.02 $0.00 $418.21 $74,920.69
104 $74,920.69 $538.02 $0.00 $423.61 $75,882.32
105 $75,882.32 $538.02 $0.00 $429.05 $76,849.39
106 $76,849.39 $538.02 $0.00 $434.52 $77,821.93
107 $77,821.93 $538.02 $0.00 $440.02 $78,799.97
108 $78,799.97 $538.02 $0.00 $445.55 $79,783.54
109 $79,783.54 $538.02 $0.00 $451.11 $80,772.67
110 $80,772.67 $538.02 $0.00 $456.70 $81,767.39
111 $81,767.39 $538.02 $0.00 $462.32 $82,767.73
112 $82,767.73 $538.02 $0.00 $467.98 $83,773.73
113 $83,773.73 $538.02 $0.00 $473.67 $84,785.42
114 $84,785.42 $538.02 $0.00 $479.39 $85,802.83
115 $85,802.83 $538.02 $0.00 $485.14 $86,825.99
116 $86,825.99 $538.02 $0.00 $490.93 $87,854.94
117 $87,854.94 $538.02 $0.00 $496.74 $88,889.70
118 $88,889.70 $538.02 $0.00 $502.60 $89,930.32
119 $89,930.32 $538.02 $0.00 $508.48 $90,976.82
120 $90,976.82 $538.02 $0.00 $514.40 $92,029.24
121 $92,029.24 $538.02 $0.00 $520.35 $93,087.61
122 $93,087.61 $538.02 $0.00 $526.33 $94,151.96
123 $94,151.96 $538.02 $0.00 $532.35 $95,222.33
124 $95,222.33 $538.02 $0.00 $538.40 $96,298.75
125 $96,298.75 $538.02 $0.00 $544.49 $97,381.26
126 $97,381.26 $538.02 $0.00 $550.61 $98,469.89
127 $98,469.89 $538.02 $0.00 $556.76 $99,564.67
128 $99,564.67 $538.02 $0.00 $562.95 $100,665.64
129 $100,665.64 $538.02 $0.00 $569.18 $101,772.84
130 $101,772.84 $538.02 $0.00 $575.44 $102,886.30
131 $102,886.30 $538.02 $0.00 $581.73 $104,006.05
132 $104,006.05 $538.02 $0.00 $588.07 $105,132.14
133 $105,132.14 $538.02 $0.00 $594.43 $106,264.59
134 $106,264.59 $538.02 $0.00 $600.84 $107,403.45
135 $107,403.45 $538.02 $0.00 $607.27 $108,548.74
136 $108,548.74 $538.02 $0.00 $613.75 $109,700.51
137 $109,700.51 $538.02 $0.00 $620.26 $110,858.79
138 $110,858.79 $538.02 $0.00 $626.81 $112,023.62
139 $112,023.62 $538.02 $0.00 $633.40 $113,195.04
140 $113,195.04 $538.02 $0.00 $640.02 $114,373.08
141 $114,373.08 $538.02 $0.00 $646.68 $115,557.78
142 $115,557.78 $538.02 $0.00 $653.38 $116,749.18
143 $116,749.18 $538.02 $0.00 $660.12 $117,947.32
144 $117,947.32 $538.02 $0.00 $666.89 $119,152.23
145 $119,152.23 $538.02 $0.00 $673.70 $120,363.95
146 $120,363.95 $538.02 $0.00 $680.56 $121,582.53
147 $121,582.53 $538.02 $0.00 $687.45 $122,808.00
148 $122,808.00 $538.02 $0.00 $694.37 $124,040.39
149 $124,040.39 $538.02 $0.00 $701.34 $125,279.75
150 $125,279.75 $538.02 $0.00 $708.35 $126,526.12
151 $126,526.12 $538.02 $0.00 $715.40 $127,779.54
152 $127,779.54 $538.02 $0.00 $722.48 $129,040.04
153 $129,040.04 $538.02 $0.00 $729.61 $130,307.67
154 $130,307.67 $538.02 $0.00 $736.78 $131,582.47
155 $131,582.47 $538.02 $0.00 $743.99 $132,864.48
156 $132,864.48 $538.02 $0.00 $751.24 $134,153.74
157 $134,153.74 $538.02 $0.00 $758.52 $135,450.28
158 $135,450.28 $538.02 $0.00 $765.86 $136,754.16
159 $136,754.16 $538.02 $0.00 $773.23 $138,065.41
160 $138,065.41 $538.02 $0.00 $780.64 $139,384.07
161 $139,384.07 $538.02 $0.00 $788.10 $140,710.19
162 $140,710.19 $538.02 $0.00 $795.60 $142,043.81
163 $142,043.81 $538.02 $0.00 $803.14 $143,384.97
164 $143,384.97 $538.02 $0.00 $810.72 $144,733.71
165 $144,733.71 $538.02 $0.00 $818.35 $146,090.08
166 $146,090.08 $538.02 $0.00 $826.01 $147,454.11
167 $147,454.11 $538.02 $0.00 $833.73 $148,825.86
168 $148,825.86 $538.02 $0.00 $841.48 $150,205.36
169 $150,205.36 $538.02 $0.00 $849.28 $151,592.66
170 $151,592.66 $538.02 $0.00 $857.13 $152,987.81
171 $152,987.81 $538.02 $0.00 $865.02 $154,390.85
172 $154,390.85 $538.02 $0.00 $872.95 $155,801.82
173 $155,801.82 $538.02 $0.00 $880.93 $157,220.77
174 $157,220.77 $538.02 $0.00 $888.95 $158,647.74
175 $158,647.74 $538.02 $0.00 $897.02 $160,082.78
176 $160,082.78 $538.02 $0.00 $905.13 $161,525.93
177 $161,525.93 $538.02 $0.00 $913.29 $162,977.24
178 $162,977.24 $538.02 $0.00 $921.50 $164,436.76
179 $164,436.76 $538.02 $0.00 $929.75 $165,904.53
180 $165,904.53 $538.02 $0.00 $938.05 $167,380.60
181 $167,380.60 $538.02 $0.00 $946.39 $168,865.01
182 $168,865.01 $538.02 $0.00 $954.79 $170,357.82
183 $170,357.82 $538.02 $0.00 $963.23 $171,859.07
184 $171,859.07 $538.02 $0.00 $971.72 $173,368.81
185 $173,368.81 $538.02 $0.00 $980.25 $174,887.08
186 $174,887.08 $538.02 $0.00 $988.84 $176,413.94
187 $176,413.94 $538.02 $0.00 $997.47 $177,949.43
188 $177,949.43 $538.02 $0.00 $1,006.15 $179,493.60
189 $179,493.60 $538.02 $0.00 $1,014.88 $181,046.50
190 $181,046.50 $538.02 $0.00 $1,023.66 $182,608.18
191 $182,608.18 $538.02 $0.00 $1,032.49 $184,178.69
192 $184,178.69 $538.02 $0.00 $1,041.37 $185,758.08
193 $185,758.08 $538.02 $0.00 $1,050.30 $187,346.40
194 $187,346.40 $538.02 $0.00 $1,059.28 $188,943.70
195 $188,943.70 $538.02 $0.00 $1,068.32 $190,550.04
196 $190,550.04 $538.02 $0.00 $1,077.40 $192,165.46
197 $192,165.46 $538.02 $0.00 $1,086.53 $193,790.01
198 $193,790.01 $538.02 $0.00 $1,095.72 $195,423.75
199 $195,423.75 $538.02 $0.00 $1,104.95 $197,066.72
200 $197,066.72 $538.02 $0.00 $1,114.24 $198,718.98
201 $198,718.98 $538.02 $0.00 $1,123.59 $200,380.59
202 $200,380.59 $538.02 $0.00 $1,132.98 $202,051.59
203 $202,051.59 $538.02 $0.00 $1,142.43 $203,732.04
204 $203,732.04 $538.02 $0.00 $1,151.93 $205,421.99
205 $205,421.99 $538.02 $0.00 $1,161.49 $207,121.50
206 $207,121.50 $538.02 $0.00 $1,171.10 $208,830.62
207 $208,830.62 $538.02 $0.00 $1,180.76 $210,549.40
208 $210,549.40 $538.02 $0.00 $1,190.48 $212,277.90
209 $212,277.90 $538.02 $0.00 $1,200.25 $214,016.17
210 $214,016.17 $538.02 $0.00 $1,210.08 $215,764.27
211 $215,764.27 $538.02 $0.00 $1,219.96 $217,522.25
212 $217,522.25 $538.02 $0.00 $1,229.90 $219,290.17
213 $219,290.17 $538.02 $0.00 $1,239.90 $221,068.09
214 $221,068.09 $538.02 $0.00 $1,249.95 $222,856.06
215 $222,856.06 $538.02 $0.00 $1,260.06 $224,654.14
216 $224,654.14 $538.02 $0.00 $1,270.23 $226,462.39
217 $226,462.39 $538.02 $63,077.49 $1,280.45 $165,203.37
218 $165,203.37 $538.02 $0.00 $934.08 $166,675.47
219 $166,675.47 $538.02 $0.00 $942.41 $168,155.90
220 $168,155.90 $538.02 $0.00 $950.78 $169,644.70
221 $169,644.70 $538.02 $0.00 $959.20 $171,141.92
222 $171,141.92 $538.02 $0.00 $967.66 $172,647.60
223 $172,647.60 $538.02 $0.00 $976.17 $174,161.79
224 $174,161.79 $538.02 $0.00 $984.74 $175,684.55
225 $175,684.55 $538.02 $0.00 $993.35 $177,215.92
226 $177,215.92 $538.02 $0.00 $1,002.00 $178,755.94
227 $178,755.94 $538.02 $0.00 $1,010.71 $180,304.67
228 $180,304.67 $538.02 $0.00 $1,019.47 $181,862.16
229 $181,862.16 $538.02 $66,231.36 $1,028.28 $117,197.10
230 $117,197.10 $538.02 $0.00 $662.65 $118,397.77
231 $118,397.77 $538.02 $0.00 $669.44 $119,605.23
232 $119,605.23 $538.02 $0.00 $676.27 $120,819.52
233 $120,819.52 $538.02 $0.00 $683.13 $122,040.67
234 $122,040.67 $538.02 $0.00 $690.04 $123,268.73
235 $123,268.73 $538.02 $0.00 $696.98 $124,503.73
236 $124,503.73 $538.02 $0.00 $703.96 $125,745.71
237 $125,745.71 $538.02 $0.00 $710.98 $126,994.71
238 $126,994.71 $538.02 $0.00 $718.05 $128,250.78
239 $128,250.78 $538.02 $0.00 $725.15 $129,513.95
240 $129,513.95 $538.02 $0.00 $732.29 $130,784.26
241 $130,784.26 $538.02 $69,542.93 $739.47 $62,518.82
242 $62,518.82 $538.02 $0.00 $353.49 $63,410.33
243 $63,410.33 $538.02 $0.00 $358.53 $64,306.88
244 $64,306.88 $538.02 $0.00 $363.60 $65,208.50
245 $65,208.50 $538.02 $0.00 $368.70 $66,115.22
246 $66,115.22 $538.02 $0.00 $373.83 $67,027.07
247 $67,027.07 $538.02 $0.00 $378.98 $67,944.07
248 $67,944.07 $538.02 $0.00 $384.17 $68,866.26
249 $68,866.26 $538.02 $0.00 $389.38 $69,793.66
250 $69,793.66 $538.02 $0.00 $394.62 $70,726.30
251 $70,726.30 $538.02 $0.00 $399.90 $71,664.22
252 $71,664.22 $538.02 $0.00 $405.20 $72,607.44
253 $72,607.44 $0.00 $73,020.08 $410.53 ($2.11)