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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$76,183
Monthly savings required$603

How much will it cost to send your child to Shaw University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $304,732.99 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $603.06 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$29,378.00
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 $603.06 $0.00 $0.00 $603.06
2 $603.06 $603.06 $0.00 $3.41 $1,209.53
3 $1,209.53 $603.06 $0.00 $6.84 $1,819.43
4 $1,819.43 $603.06 $0.00 $10.29 $2,432.78
5 $2,432.78 $603.06 $0.00 $13.76 $3,049.60
6 $3,049.60 $603.06 $0.00 $17.24 $3,669.90
7 $3,669.90 $603.06 $0.00 $20.75 $4,293.71
8 $4,293.71 $603.06 $0.00 $24.28 $4,921.05
9 $4,921.05 $603.06 $0.00 $27.82 $5,551.93
10 $5,551.93 $603.06 $0.00 $31.39 $6,186.38
11 $6,186.38 $603.06 $0.00 $34.98 $6,824.42
12 $6,824.42 $603.06 $0.00 $38.59 $7,466.07
13 $7,466.07 $603.06 $0.00 $42.21 $8,111.34
14 $8,111.34 $603.06 $0.00 $45.86 $8,760.26
15 $8,760.26 $603.06 $0.00 $49.53 $9,412.85
16 $9,412.85 $603.06 $0.00 $53.22 $10,069.13
17 $10,069.13 $603.06 $0.00 $56.93 $10,729.12
18 $10,729.12 $603.06 $0.00 $60.66 $11,392.84
19 $11,392.84 $603.06 $0.00 $64.42 $12,060.32
20 $12,060.32 $603.06 $0.00 $68.19 $12,731.57
21 $12,731.57 $603.06 $0.00 $71.99 $13,406.62
22 $13,406.62 $603.06 $0.00 $75.80 $14,085.48
23 $14,085.48 $603.06 $0.00 $79.64 $14,768.18
24 $14,768.18 $603.06 $0.00 $83.50 $15,454.74
25 $15,454.74 $603.06 $0.00 $87.38 $16,145.18
26 $16,145.18 $603.06 $0.00 $91.29 $16,839.53
27 $16,839.53 $603.06 $0.00 $95.21 $17,537.80
28 $17,537.80 $603.06 $0.00 $99.16 $18,240.02
29 $18,240.02 $603.06 $0.00 $103.13 $18,946.21
30 $18,946.21 $603.06 $0.00 $107.12 $19,656.39
31 $19,656.39 $603.06 $0.00 $111.14 $20,370.59
32 $20,370.59 $603.06 $0.00 $115.18 $21,088.83
33 $21,088.83 $603.06 $0.00 $119.24 $21,811.13
34 $21,811.13 $603.06 $0.00 $123.32 $22,537.51
35 $22,537.51 $603.06 $0.00 $127.43 $23,268.00
36 $23,268.00 $603.06 $0.00 $131.56 $24,002.62
37 $24,002.62 $603.06 $0.00 $135.71 $24,741.39
38 $24,741.39 $603.06 $0.00 $139.89 $25,484.34
39 $25,484.34 $603.06 $0.00 $144.09 $26,231.49
40 $26,231.49 $603.06 $0.00 $148.32 $26,982.87
41 $26,982.87 $603.06 $0.00 $152.57 $27,738.50
42 $27,738.50 $603.06 $0.00 $156.84 $28,498.40
43 $28,498.40 $603.06 $0.00 $161.13 $29,262.59
44 $29,262.59 $603.06 $0.00 $165.45 $30,031.10
45 $30,031.10 $603.06 $0.00 $169.80 $30,803.96
46 $30,803.96 $603.06 $0.00 $174.17 $31,581.19
47 $31,581.19 $603.06 $0.00 $178.56 $32,362.81
48 $32,362.81 $603.06 $0.00 $182.98 $33,148.85
49 $33,148.85 $603.06 $0.00 $187.43 $33,939.34
50 $33,939.34 $603.06 $0.00 $191.90 $34,734.30
51 $34,734.30 $603.06 $0.00 $196.39 $35,533.75
52 $35,533.75 $603.06 $0.00 $200.91 $36,337.72
53 $36,337.72 $603.06 $0.00 $205.46 $37,146.24
54 $37,146.24 $603.06 $0.00 $210.03 $37,959.33
55 $37,959.33 $603.06 $0.00 $214.63 $38,777.02
56 $38,777.02 $603.06 $0.00 $219.25 $39,599.33
57 $39,599.33 $603.06 $0.00 $223.90 $40,426.29
58 $40,426.29 $603.06 $0.00 $228.58 $41,257.93
59 $41,257.93 $603.06 $0.00 $233.28 $42,094.27
60 $42,094.27 $603.06 $0.00 $238.01 $42,935.34
61 $42,935.34 $603.06 $0.00 $242.76 $43,781.16
62 $43,781.16 $603.06 $0.00 $247.55 $44,631.77
63 $44,631.77 $603.06 $0.00 $252.35 $45,487.18
64 $45,487.18 $603.06 $0.00 $257.19 $46,347.43
65 $46,347.43 $603.06 $0.00 $262.06 $47,212.55
66 $47,212.55 $603.06 $0.00 $266.95 $48,082.56
67 $48,082.56 $603.06 $0.00 $271.87 $48,957.49
68 $48,957.49 $603.06 $0.00 $276.81 $49,837.36
69 $49,837.36 $603.06 $0.00 $281.79 $50,722.21
70 $50,722.21 $603.06 $0.00 $286.79 $51,612.06
71 $51,612.06 $603.06 $0.00 $291.82 $52,506.94
72 $52,506.94 $603.06 $0.00 $296.88 $53,406.88
73 $53,406.88 $603.06 $0.00 $301.97 $54,311.91
74 $54,311.91 $603.06 $0.00 $307.09 $55,222.06
75 $55,222.06 $603.06 $0.00 $312.23 $56,137.35
76 $56,137.35 $603.06 $0.00 $317.41 $57,057.82
77 $57,057.82 $603.06 $0.00 $322.61 $57,983.49
78 $57,983.49 $603.06 $0.00 $327.85 $58,914.40
79 $58,914.40 $603.06 $0.00 $333.11 $59,850.57
80 $59,850.57 $603.06 $0.00 $338.40 $60,792.03
81 $60,792.03 $603.06 $0.00 $343.73 $61,738.82
82 $61,738.82 $603.06 $0.00 $349.08 $62,690.96
83 $62,690.96 $603.06 $0.00 $354.46 $63,648.48
84 $63,648.48 $603.06 $0.00 $359.88 $64,611.42
85 $64,611.42 $603.06 $0.00 $365.32 $65,579.80
86 $65,579.80 $603.06 $0.00 $370.80 $66,553.66
87 $66,553.66 $603.06 $0.00 $376.30 $67,533.02
88 $67,533.02 $603.06 $0.00 $381.84 $68,517.92
89 $68,517.92 $603.06 $0.00 $387.41 $69,508.39
90 $69,508.39 $603.06 $0.00 $393.01 $70,504.46
91 $70,504.46 $603.06 $0.00 $398.64 $71,506.16
92 $71,506.16 $603.06 $0.00 $404.31 $72,513.53
93 $72,513.53 $603.06 $0.00 $410.00 $73,526.59
94 $73,526.59 $603.06 $0.00 $415.73 $74,545.38
95 $74,545.38 $603.06 $0.00 $421.49 $75,569.93
96 $75,569.93 $603.06 $0.00 $427.28 $76,600.27
97 $76,600.27 $603.06 $0.00 $433.11 $77,636.44
98 $77,636.44 $603.06 $0.00 $438.97 $78,678.47
99 $78,678.47 $603.06 $0.00 $444.86 $79,726.39
100 $79,726.39 $603.06 $0.00 $450.78 $80,780.23
101 $80,780.23 $603.06 $0.00 $456.74 $81,840.03
102 $81,840.03 $603.06 $0.00 $462.74 $82,905.83
103 $82,905.83 $603.06 $0.00 $468.76 $83,977.65
104 $83,977.65 $603.06 $0.00 $474.82 $85,055.53
105 $85,055.53 $603.06 $0.00 $480.92 $86,139.51
106 $86,139.51 $603.06 $0.00 $487.05 $87,229.62
107 $87,229.62 $603.06 $0.00 $493.21 $88,325.89
108 $88,325.89 $603.06 $0.00 $499.41 $89,428.36
109 $89,428.36 $603.06 $0.00 $505.64 $90,537.06
110 $90,537.06 $603.06 $0.00 $511.91 $91,652.03
111 $91,652.03 $603.06 $0.00 $518.21 $92,773.30
112 $92,773.30 $603.06 $0.00 $524.55 $93,900.91
113 $93,900.91 $603.06 $0.00 $530.93 $95,034.90
114 $95,034.90 $603.06 $0.00 $537.34 $96,175.30
115 $96,175.30 $603.06 $0.00 $543.79 $97,322.15
116 $97,322.15 $603.06 $0.00 $550.27 $98,475.48
117 $98,475.48 $603.06 $0.00 $556.79 $99,635.33
118 $99,635.33 $603.06 $0.00 $563.35 $100,801.74
119 $100,801.74 $603.06 $0.00 $569.95 $101,974.75
120 $101,974.75 $603.06 $0.00 $576.58 $103,154.39
121 $103,154.39 $603.06 $0.00 $583.25 $104,340.70
122 $104,340.70 $603.06 $0.00 $589.96 $105,533.72
123 $105,533.72 $603.06 $0.00 $596.70 $106,733.48
124 $106,733.48 $603.06 $0.00 $603.49 $107,940.03
125 $107,940.03 $603.06 $0.00 $610.31 $109,153.40
126 $109,153.40 $603.06 $0.00 $617.17 $110,373.63
127 $110,373.63 $603.06 $0.00 $624.07 $111,600.76
128 $111,600.76 $603.06 $0.00 $631.01 $112,834.83
129 $112,834.83 $603.06 $0.00 $637.98 $114,075.87
130 $114,075.87 $603.06 $0.00 $645.00 $115,323.93
131 $115,323.93 $603.06 $0.00 $652.06 $116,579.05
132 $116,579.05 $603.06 $0.00 $659.15 $117,841.26
133 $117,841.26 $603.06 $0.00 $666.29 $119,110.61
134 $119,110.61 $603.06 $0.00 $673.47 $120,387.14
135 $120,387.14 $603.06 $0.00 $680.69 $121,670.89
136 $121,670.89 $603.06 $0.00 $687.94 $122,961.89
137 $122,961.89 $603.06 $0.00 $695.24 $124,260.19
138 $124,260.19 $603.06 $0.00 $702.59 $125,565.84
139 $125,565.84 $603.06 $0.00 $709.97 $126,878.87
140 $126,878.87 $603.06 $0.00 $717.39 $128,199.32
141 $128,199.32 $603.06 $0.00 $724.86 $129,527.24
142 $129,527.24 $603.06 $0.00 $732.37 $130,862.67
143 $130,862.67 $603.06 $0.00 $739.92 $132,205.65
144 $132,205.65 $603.06 $0.00 $747.51 $133,556.22
145 $133,556.22 $603.06 $0.00 $755.15 $134,914.43
146 $134,914.43 $603.06 $0.00 $762.83 $136,280.32
147 $136,280.32 $603.06 $0.00 $770.55 $137,653.93
148 $137,653.93 $603.06 $0.00 $778.32 $139,035.31
149 $139,035.31 $603.06 $0.00 $786.13 $140,424.50
150 $140,424.50 $603.06 $0.00 $793.98 $141,821.54
151 $141,821.54 $603.06 $0.00 $801.88 $143,226.48
152 $143,226.48 $603.06 $0.00 $809.82 $144,639.36
153 $144,639.36 $603.06 $0.00 $817.81 $146,060.23
154 $146,060.23 $603.06 $0.00 $825.85 $147,489.14
155 $147,489.14 $603.06 $0.00 $833.93 $148,926.13
156 $148,926.13 $603.06 $0.00 $842.05 $150,371.24
157 $150,371.24 $603.06 $0.00 $850.22 $151,824.52
158 $151,824.52 $603.06 $0.00 $858.44 $153,286.02
159 $153,286.02 $603.06 $0.00 $866.70 $154,755.78
160 $154,755.78 $603.06 $0.00 $875.01 $156,233.85
161 $156,233.85 $603.06 $0.00 $883.37 $157,720.28
162 $157,720.28 $603.06 $0.00 $891.77 $159,215.11
163 $159,215.11 $603.06 $0.00 $900.23 $160,718.40
164 $160,718.40 $603.06 $0.00 $908.73 $162,230.19
165 $162,230.19 $603.06 $0.00 $917.27 $163,750.52
166 $163,750.52 $603.06 $0.00 $925.87 $165,279.45
167 $165,279.45 $603.06 $0.00 $934.51 $166,817.02
168 $166,817.02 $603.06 $0.00 $943.21 $168,363.29
169 $168,363.29 $603.06 $0.00 $951.95 $169,918.30
170 $169,918.30 $603.06 $0.00 $960.74 $171,482.10
171 $171,482.10 $603.06 $0.00 $969.58 $173,054.74
172 $173,054.74 $603.06 $0.00 $978.48 $174,636.28
173 $174,636.28 $603.06 $0.00 $987.42 $176,226.76
174 $176,226.76 $603.06 $0.00 $996.41 $177,826.23
175 $177,826.23 $603.06 $0.00 $1,005.46 $179,434.75
176 $179,434.75 $603.06 $0.00 $1,014.55 $181,052.36
177 $181,052.36 $603.06 $0.00 $1,023.70 $182,679.12
178 $182,679.12 $603.06 $0.00 $1,032.89 $184,315.07
179 $184,315.07 $603.06 $0.00 $1,042.14 $185,960.27
180 $185,960.27 $603.06 $0.00 $1,051.45 $187,614.78
181 $187,614.78 $603.06 $0.00 $1,060.80 $189,278.64
182 $189,278.64 $603.06 $0.00 $1,070.21 $190,951.91
183 $190,951.91 $603.06 $0.00 $1,079.67 $192,634.64
184 $192,634.64 $603.06 $0.00 $1,089.18 $194,326.88
185 $194,326.88 $603.06 $0.00 $1,098.75 $196,028.69
186 $196,028.69 $603.06 $0.00 $1,108.37 $197,740.12
187 $197,740.12 $603.06 $0.00 $1,118.05 $199,461.23
188 $199,461.23 $603.06 $0.00 $1,127.78 $201,192.07
189 $201,192.07 $603.06 $0.00 $1,137.57 $202,932.70
190 $202,932.70 $603.06 $0.00 $1,147.41 $204,683.17
191 $204,683.17 $603.06 $0.00 $1,157.31 $206,443.54
192 $206,443.54 $603.06 $0.00 $1,167.26 $208,213.86
193 $208,213.86 $603.06 $0.00 $1,177.27 $209,994.19
194 $209,994.19 $603.06 $0.00 $1,187.34 $211,784.59
195 $211,784.59 $603.06 $0.00 $1,197.46 $213,585.11
196 $213,585.11 $603.06 $0.00 $1,207.64 $215,395.81
197 $215,395.81 $603.06 $0.00 $1,217.88 $217,216.75
198 $217,216.75 $603.06 $0.00 $1,228.18 $219,047.99
199 $219,047.99 $603.06 $0.00 $1,238.53 $220,889.58
200 $220,889.58 $603.06 $0.00 $1,248.94 $222,741.58
201 $222,741.58 $603.06 $0.00 $1,259.41 $224,604.05
202 $224,604.05 $603.06 $0.00 $1,269.94 $226,477.05
203 $226,477.05 $603.06 $0.00 $1,280.53 $228,360.64
204 $228,360.64 $603.06 $0.00 $1,291.18 $230,254.88
205 $230,254.88 $603.06 $0.00 $1,301.89 $232,159.83
206 $232,159.83 $603.06 $0.00 $1,312.67 $234,075.56
207 $234,075.56 $603.06 $0.00 $1,323.50 $236,002.12
208 $236,002.12 $603.06 $0.00 $1,334.39 $237,939.57
209 $237,939.57 $603.06 $0.00 $1,345.34 $239,887.97
210 $239,887.97 $603.06 $0.00 $1,356.36 $241,847.39
211 $241,847.39 $603.06 $0.00 $1,367.44 $243,817.89
212 $243,817.89 $603.06 $0.00 $1,378.58 $245,799.53
213 $245,799.53 $603.06 $0.00 $1,389.79 $247,792.38
214 $247,792.38 $603.06 $0.00 $1,401.05 $249,796.49
215 $249,796.49 $603.06 $0.00 $1,412.39 $251,811.94
216 $251,811.94 $603.06 $0.00 $1,423.78 $253,838.78
217 $253,838.78 $603.06 $70,701.66 $1,435.24 $185,175.42
218 $185,175.42 $603.06 $0.00 $1,047.01 $186,825.49
219 $186,825.49 $603.06 $0.00 $1,056.34 $188,484.89
220 $188,484.89 $603.06 $0.00 $1,065.72 $190,153.67
221 $190,153.67 $603.06 $0.00 $1,075.16 $191,831.89
222 $191,831.89 $603.06 $0.00 $1,084.65 $193,519.60
223 $193,519.60 $603.06 $0.00 $1,094.19 $195,216.85
224 $195,216.85 $603.06 $0.00 $1,103.78 $196,923.69
225 $196,923.69 $603.06 $0.00 $1,113.44 $198,640.19
226 $198,640.19 $603.06 $0.00 $1,123.14 $200,366.39
227 $200,366.39 $603.06 $0.00 $1,132.90 $202,102.35
228 $202,102.35 $603.06 $0.00 $1,142.72 $203,848.13
229 $203,848.13 $603.06 $74,236.74 $1,152.59 $131,367.04
230 $131,367.04 $603.06 $0.00 $742.77 $132,712.87
231 $132,712.87 $603.06 $0.00 $750.38 $134,066.31
232 $134,066.31 $603.06 $0.00 $758.03 $135,427.40
233 $135,427.40 $603.06 $0.00 $765.73 $136,796.19
234 $136,796.19 $603.06 $0.00 $773.47 $138,172.72
235 $138,172.72 $603.06 $0.00 $781.25 $139,557.03
236 $139,557.03 $603.06 $0.00 $789.08 $140,949.17
237 $140,949.17 $603.06 $0.00 $796.95 $142,349.18
238 $142,349.18 $603.06 $0.00 $804.86 $143,757.10
239 $143,757.10 $603.06 $0.00 $812.82 $145,172.98
240 $145,172.98 $603.06 $0.00 $820.83 $146,596.87
241 $146,596.87 $603.06 $77,948.58 $828.88 $70,080.23
242 $70,080.23 $603.06 $0.00 $396.24 $71,079.53
243 $71,079.53 $603.06 $0.00 $401.89 $72,084.48
244 $72,084.48 $603.06 $0.00 $407.58 $73,095.12
245 $73,095.12 $603.06 $0.00 $413.29 $74,111.47
246 $74,111.47 $603.06 $0.00 $419.04 $75,133.57
247 $75,133.57 $603.06 $0.00 $424.82 $76,161.45
248 $76,161.45 $603.06 $0.00 $430.63 $77,195.14
249 $77,195.14 $603.06 $0.00 $436.47 $78,234.67
250 $78,234.67 $603.06 $0.00 $442.35 $79,280.08
251 $79,280.08 $603.06 $0.00 $448.26 $80,331.40
252 $80,331.40 $603.06 $0.00 $454.21 $81,388.67
253 $81,388.67 $0.00 $81,846.01 $460.18 $2.84