Savings Plan and Future Cost Estimation for Winston Salem State University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$54,004
Monthly savings required$428

How much will it cost to send your child to Winston Salem State University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $216,014.18 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $427.50 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$20,825.00
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 $427.50 $0.00 $0.00 $427.50
2 $427.50 $427.50 $0.00 $2.42 $857.42
3 $857.42 $427.50 $0.00 $4.85 $1,289.77
4 $1,289.77 $427.50 $0.00 $7.29 $1,724.56
5 $1,724.56 $427.50 $0.00 $9.75 $2,161.81
6 $2,161.81 $427.50 $0.00 $12.22 $2,601.53
7 $2,601.53 $427.50 $0.00 $14.71 $3,043.74
8 $3,043.74 $427.50 $0.00 $17.21 $3,488.45
9 $3,488.45 $427.50 $0.00 $19.72 $3,935.67
10 $3,935.67 $427.50 $0.00 $22.25 $4,385.42
11 $4,385.42 $427.50 $0.00 $24.80 $4,837.72
12 $4,837.72 $427.50 $0.00 $27.35 $5,292.57
13 $5,292.57 $427.50 $0.00 $29.92 $5,749.99
14 $5,749.99 $427.50 $0.00 $32.51 $6,210.00
15 $6,210.00 $427.50 $0.00 $35.11 $6,672.61
16 $6,672.61 $427.50 $0.00 $37.73 $7,137.84
17 $7,137.84 $427.50 $0.00 $40.36 $7,605.70
18 $7,605.70 $427.50 $0.00 $43.00 $8,076.20
19 $8,076.20 $427.50 $0.00 $45.66 $8,549.36
20 $8,549.36 $427.50 $0.00 $48.34 $9,025.20
21 $9,025.20 $427.50 $0.00 $51.03 $9,503.73
22 $9,503.73 $427.50 $0.00 $53.74 $9,984.97
23 $9,984.97 $427.50 $0.00 $56.46 $10,468.93
24 $10,468.93 $427.50 $0.00 $59.19 $10,955.62
25 $10,955.62 $427.50 $0.00 $61.94 $11,445.06
26 $11,445.06 $427.50 $0.00 $64.71 $11,937.27
27 $11,937.27 $427.50 $0.00 $67.50 $12,432.27
28 $12,432.27 $427.50 $0.00 $70.29 $12,930.06
29 $12,930.06 $427.50 $0.00 $73.11 $13,430.67
30 $13,430.67 $427.50 $0.00 $75.94 $13,934.11
31 $13,934.11 $427.50 $0.00 $78.79 $14,440.40
32 $14,440.40 $427.50 $0.00 $81.65 $14,949.55
33 $14,949.55 $427.50 $0.00 $84.53 $15,461.58
34 $15,461.58 $427.50 $0.00 $87.42 $15,976.50
35 $15,976.50 $427.50 $0.00 $90.33 $16,494.33
36 $16,494.33 $427.50 $0.00 $93.26 $17,015.09
37 $17,015.09 $427.50 $0.00 $96.21 $17,538.80
38 $17,538.80 $427.50 $0.00 $99.17 $18,065.47
39 $18,065.47 $427.50 $0.00 $102.14 $18,595.11
40 $18,595.11 $427.50 $0.00 $105.14 $19,127.75
41 $19,127.75 $427.50 $0.00 $108.15 $19,663.40
42 $19,663.40 $427.50 $0.00 $111.18 $20,202.08
43 $20,202.08 $427.50 $0.00 $114.23 $20,743.81
44 $20,743.81 $427.50 $0.00 $117.29 $21,288.60
45 $21,288.60 $427.50 $0.00 $120.37 $21,836.47
46 $21,836.47 $427.50 $0.00 $123.47 $22,387.44
47 $22,387.44 $427.50 $0.00 $126.58 $22,941.52
48 $22,941.52 $427.50 $0.00 $129.71 $23,498.73
49 $23,498.73 $427.50 $0.00 $132.87 $24,059.10
50 $24,059.10 $427.50 $0.00 $136.03 $24,622.63
51 $24,622.63 $427.50 $0.00 $139.22 $25,189.35
52 $25,189.35 $427.50 $0.00 $142.42 $25,759.27
53 $25,759.27 $427.50 $0.00 $145.65 $26,332.42
54 $26,332.42 $427.50 $0.00 $148.89 $26,908.81
55 $26,908.81 $427.50 $0.00 $152.15 $27,488.46
56 $27,488.46 $427.50 $0.00 $155.42 $28,071.38
57 $28,071.38 $427.50 $0.00 $158.72 $28,657.60
58 $28,657.60 $427.50 $0.00 $162.03 $29,247.13
59 $29,247.13 $427.50 $0.00 $165.37 $29,840.00
60 $29,840.00 $427.50 $0.00 $168.72 $30,436.22
61 $30,436.22 $427.50 $0.00 $172.09 $31,035.81
62 $31,035.81 $427.50 $0.00 $175.48 $31,638.79
63 $31,638.79 $427.50 $0.00 $178.89 $32,245.18
64 $32,245.18 $427.50 $0.00 $182.32 $32,855.00
65 $32,855.00 $427.50 $0.00 $185.77 $33,468.27
66 $33,468.27 $427.50 $0.00 $189.23 $34,085.00
67 $34,085.00 $427.50 $0.00 $192.72 $34,705.22
68 $34,705.22 $427.50 $0.00 $196.23 $35,328.95
69 $35,328.95 $427.50 $0.00 $199.76 $35,956.21
70 $35,956.21 $427.50 $0.00 $203.30 $36,587.01
71 $36,587.01 $427.50 $0.00 $206.87 $37,221.38
72 $37,221.38 $427.50 $0.00 $210.46 $37,859.34
73 $37,859.34 $427.50 $0.00 $214.06 $38,500.90
74 $38,500.90 $427.50 $0.00 $217.69 $39,146.09
75 $39,146.09 $427.50 $0.00 $221.34 $39,794.93
76 $39,794.93 $427.50 $0.00 $225.01 $40,447.44
77 $40,447.44 $427.50 $0.00 $228.70 $41,103.64
78 $41,103.64 $427.50 $0.00 $232.41 $41,763.55
79 $41,763.55 $427.50 $0.00 $236.14 $42,427.19
80 $42,427.19 $427.50 $0.00 $239.89 $43,094.58
81 $43,094.58 $427.50 $0.00 $243.66 $43,765.74
82 $43,765.74 $427.50 $0.00 $247.46 $44,440.70
83 $44,440.70 $427.50 $0.00 $251.27 $45,119.47
84 $45,119.47 $427.50 $0.00 $255.11 $45,802.08
85 $45,802.08 $427.50 $0.00 $258.97 $46,488.55
86 $46,488.55 $427.50 $0.00 $262.85 $47,178.90
87 $47,178.90 $427.50 $0.00 $266.76 $47,873.16
88 $47,873.16 $427.50 $0.00 $270.68 $48,571.34
89 $48,571.34 $427.50 $0.00 $274.63 $49,273.47
90 $49,273.47 $427.50 $0.00 $278.60 $49,979.57
91 $49,979.57 $427.50 $0.00 $282.59 $50,689.66
92 $50,689.66 $427.50 $0.00 $286.61 $51,403.77
93 $51,403.77 $427.50 $0.00 $290.64 $52,121.91
94 $52,121.91 $427.50 $0.00 $294.70 $52,844.11
95 $52,844.11 $427.50 $0.00 $298.79 $53,570.40
96 $53,570.40 $427.50 $0.00 $302.89 $54,300.79
97 $54,300.79 $427.50 $0.00 $307.02 $55,035.31
98 $55,035.31 $427.50 $0.00 $311.18 $55,773.99
99 $55,773.99 $427.50 $0.00 $315.35 $56,516.84
100 $56,516.84 $427.50 $0.00 $319.55 $57,263.89
101 $57,263.89 $427.50 $0.00 $323.78 $58,015.17
102 $58,015.17 $427.50 $0.00 $328.03 $58,770.70
103 $58,770.70 $427.50 $0.00 $332.30 $59,530.50
104 $59,530.50 $427.50 $0.00 $336.59 $60,294.59
105 $60,294.59 $427.50 $0.00 $340.91 $61,063.00
106 $61,063.00 $427.50 $0.00 $345.26 $61,835.76
107 $61,835.76 $427.50 $0.00 $349.63 $62,612.89
108 $62,612.89 $427.50 $0.00 $354.02 $63,394.41
109 $63,394.41 $427.50 $0.00 $358.44 $64,180.35
110 $64,180.35 $427.50 $0.00 $362.89 $64,970.74
111 $64,970.74 $427.50 $0.00 $367.35 $65,765.59
112 $65,765.59 $427.50 $0.00 $371.85 $66,564.94
113 $66,564.94 $427.50 $0.00 $376.37 $67,368.81
114 $67,368.81 $427.50 $0.00 $380.91 $68,177.22
115 $68,177.22 $427.50 $0.00 $385.48 $68,990.20
116 $68,990.20 $427.50 $0.00 $390.08 $69,807.78
117 $69,807.78 $427.50 $0.00 $394.70 $70,629.98
118 $70,629.98 $427.50 $0.00 $399.35 $71,456.83
119 $71,456.83 $427.50 $0.00 $404.03 $72,288.36
120 $72,288.36 $427.50 $0.00 $408.73 $73,124.59
121 $73,124.59 $427.50 $0.00 $413.46 $73,965.55
122 $73,965.55 $427.50 $0.00 $418.21 $74,811.26
123 $74,811.26 $427.50 $0.00 $422.99 $75,661.75
124 $75,661.75 $427.50 $0.00 $427.80 $76,517.05
125 $76,517.05 $427.50 $0.00 $432.64 $77,377.19
126 $77,377.19 $427.50 $0.00 $437.50 $78,242.19
127 $78,242.19 $427.50 $0.00 $442.39 $79,112.08
128 $79,112.08 $427.50 $0.00 $447.31 $79,986.89
129 $79,986.89 $427.50 $0.00 $452.26 $80,866.65
130 $80,866.65 $427.50 $0.00 $457.23 $81,751.38
131 $81,751.38 $427.50 $0.00 $462.23 $82,641.11
132 $82,641.11 $427.50 $0.00 $467.26 $83,535.87
133 $83,535.87 $427.50 $0.00 $472.32 $84,435.69
134 $84,435.69 $427.50 $0.00 $477.41 $85,340.60
135 $85,340.60 $427.50 $0.00 $482.53 $86,250.63
136 $86,250.63 $427.50 $0.00 $487.67 $87,165.80
137 $87,165.80 $427.50 $0.00 $492.85 $88,086.15
138 $88,086.15 $427.50 $0.00 $498.05 $89,011.70
139 $89,011.70 $427.50 $0.00 $503.29 $89,942.49
140 $89,942.49 $427.50 $0.00 $508.55 $90,878.54
141 $90,878.54 $427.50 $0.00 $513.84 $91,819.88
142 $91,819.88 $427.50 $0.00 $519.16 $92,766.54
143 $92,766.54 $427.50 $0.00 $524.52 $93,718.56
144 $93,718.56 $427.50 $0.00 $529.90 $94,675.96
145 $94,675.96 $427.50 $0.00 $535.31 $95,638.77
146 $95,638.77 $427.50 $0.00 $540.76 $96,607.03
147 $96,607.03 $427.50 $0.00 $546.23 $97,580.76
148 $97,580.76 $427.50 $0.00 $551.74 $98,560.00
149 $98,560.00 $427.50 $0.00 $557.27 $99,544.77
150 $99,544.77 $427.50 $0.00 $562.84 $100,535.11
151 $100,535.11 $427.50 $0.00 $568.44 $101,531.05
152 $101,531.05 $427.50 $0.00 $574.07 $102,532.62
153 $102,532.62 $427.50 $0.00 $579.73 $103,539.85
154 $103,539.85 $427.50 $0.00 $585.43 $104,552.78
155 $104,552.78 $427.50 $0.00 $591.16 $105,571.44
156 $105,571.44 $427.50 $0.00 $596.92 $106,595.86
157 $106,595.86 $427.50 $0.00 $602.71 $107,626.07
158 $107,626.07 $427.50 $0.00 $608.53 $108,662.10
159 $108,662.10 $427.50 $0.00 $614.39 $109,703.99
160 $109,703.99 $427.50 $0.00 $620.28 $110,751.77
161 $110,751.77 $427.50 $0.00 $626.21 $111,805.48
162 $111,805.48 $427.50 $0.00 $632.16 $112,865.14
163 $112,865.14 $427.50 $0.00 $638.16 $113,930.80
164 $113,930.80 $427.50 $0.00 $644.18 $115,002.48
165 $115,002.48 $427.50 $0.00 $650.24 $116,080.22
166 $116,080.22 $427.50 $0.00 $656.33 $117,164.05
167 $117,164.05 $427.50 $0.00 $662.46 $118,254.01
168 $118,254.01 $427.50 $0.00 $668.63 $119,350.14
169 $119,350.14 $427.50 $0.00 $674.82 $120,452.46
170 $120,452.46 $427.50 $0.00 $681.06 $121,561.02
171 $121,561.02 $427.50 $0.00 $687.32 $122,675.84
172 $122,675.84 $427.50 $0.00 $693.63 $123,796.97
173 $123,796.97 $427.50 $0.00 $699.97 $124,924.44
174 $124,924.44 $427.50 $0.00 $706.34 $126,058.28
175 $126,058.28 $427.50 $0.00 $712.75 $127,198.53
176 $127,198.53 $427.50 $0.00 $719.20 $128,345.23
177 $128,345.23 $427.50 $0.00 $725.68 $129,498.41
178 $129,498.41 $427.50 $0.00 $732.20 $130,658.11
179 $130,658.11 $427.50 $0.00 $738.76 $131,824.37
180 $131,824.37 $427.50 $0.00 $745.35 $132,997.22
181 $132,997.22 $427.50 $0.00 $751.99 $134,176.71
182 $134,176.71 $427.50 $0.00 $758.65 $135,362.86
183 $135,362.86 $427.50 $0.00 $765.36 $136,555.72
184 $136,555.72 $427.50 $0.00 $772.11 $137,755.33
185 $137,755.33 $427.50 $0.00 $778.89 $138,961.72
186 $138,961.72 $427.50 $0.00 $785.71 $140,174.93
187 $140,174.93 $427.50 $0.00 $792.57 $141,395.00
188 $141,395.00 $427.50 $0.00 $799.47 $142,621.97
189 $142,621.97 $427.50 $0.00 $806.41 $143,855.88
190 $143,855.88 $427.50 $0.00 $813.38 $145,096.76
191 $145,096.76 $427.50 $0.00 $820.40 $146,344.66
192 $146,344.66 $427.50 $0.00 $827.45 $147,599.61
193 $147,599.61 $427.50 $0.00 $834.55 $148,861.66
194 $148,861.66 $427.50 $0.00 $841.69 $150,130.85
195 $150,130.85 $427.50 $0.00 $848.86 $151,407.21
196 $151,407.21 $427.50 $0.00 $856.08 $152,690.79
197 $152,690.79 $427.50 $0.00 $863.34 $153,981.63
198 $153,981.63 $427.50 $0.00 $870.63 $155,279.76
199 $155,279.76 $427.50 $0.00 $877.97 $156,585.23
200 $156,585.23 $427.50 $0.00 $885.36 $157,898.09
201 $157,898.09 $427.50 $0.00 $892.78 $159,218.37
202 $159,218.37 $427.50 $0.00 $900.24 $160,546.11
203 $160,546.11 $427.50 $0.00 $907.75 $161,881.36
204 $161,881.36 $427.50 $0.00 $915.30 $163,224.16
205 $163,224.16 $427.50 $0.00 $922.89 $164,574.55
206 $164,574.55 $427.50 $0.00 $930.53 $165,932.58
207 $165,932.58 $427.50 $0.00 $938.21 $167,298.29
208 $167,298.29 $427.50 $0.00 $945.93 $168,671.72
209 $168,671.72 $427.50 $0.00 $953.69 $170,052.91
210 $170,052.91 $427.50 $0.00 $961.50 $171,441.91
211 $171,441.91 $427.50 $0.00 $969.36 $172,838.77
212 $172,838.77 $427.50 $0.00 $977.26 $174,243.53
213 $174,243.53 $427.50 $0.00 $985.20 $175,656.23
214 $175,656.23 $427.50 $0.00 $993.19 $177,076.92
215 $177,076.92 $427.50 $0.00 $1,001.22 $178,505.64
216 $178,505.64 $427.50 $0.00 $1,009.30 $179,942.44
217 $179,942.44 $427.50 $50,117.85 $1,017.42 $131,269.51
218 $131,269.51 $427.50 $0.00 $742.22 $132,439.23
219 $132,439.23 $427.50 $0.00 $748.83 $133,615.56
220 $133,615.56 $427.50 $0.00 $755.48 $134,798.54
221 $134,798.54 $427.50 $0.00 $762.17 $135,988.21
222 $135,988.21 $427.50 $0.00 $768.90 $137,184.61
223 $137,184.61 $427.50 $0.00 $775.66 $138,387.77
224 $138,387.77 $427.50 $0.00 $782.46 $139,597.73
225 $139,597.73 $427.50 $0.00 $789.31 $140,814.54
226 $140,814.54 $427.50 $0.00 $796.19 $142,038.23
227 $142,038.23 $427.50 $0.00 $803.10 $143,268.83
228 $143,268.83 $427.50 $0.00 $810.06 $144,506.39
229 $144,506.39 $427.50 $52,623.74 $817.06 $93,127.21
230 $93,127.21 $427.50 $0.00 $526.55 $94,081.26
231 $94,081.26 $427.50 $0.00 $531.95 $95,040.71
232 $95,040.71 $427.50 $0.00 $537.37 $96,005.58
233 $96,005.58 $427.50 $0.00 $542.83 $96,975.91
234 $96,975.91 $427.50 $0.00 $548.32 $97,951.73
235 $97,951.73 $427.50 $0.00 $553.83 $98,933.06
236 $98,933.06 $427.50 $0.00 $559.38 $99,919.94
237 $99,919.94 $427.50 $0.00 $564.96 $100,912.40
238 $100,912.40 $427.50 $0.00 $570.57 $101,910.47
239 $101,910.47 $427.50 $0.00 $576.22 $102,914.19
240 $102,914.19 $427.50 $0.00 $581.89 $103,923.58
241 $103,923.58 $427.50 $55,254.92 $587.60 $49,683.76
242 $49,683.76 $427.50 $0.00 $280.92 $50,392.18
243 $50,392.18 $427.50 $0.00 $284.92 $51,104.60
244 $51,104.60 $427.50 $0.00 $288.95 $51,821.05
245 $51,821.05 $427.50 $0.00 $293.00 $52,541.55
246 $52,541.55 $427.50 $0.00 $297.08 $53,266.13
247 $53,266.13 $427.50 $0.00 $301.17 $53,994.80
248 $53,994.80 $427.50 $0.00 $305.29 $54,727.59
249 $54,727.59 $427.50 $0.00 $309.44 $55,464.53
250 $55,464.53 $427.50 $0.00 $313.60 $56,205.63
251 $56,205.63 $427.50 $0.00 $317.79 $56,950.92
252 $56,950.92 $427.50 $0.00 $322.01 $57,700.43
253 $57,700.43 $0.00 $58,017.67 $326.25 $9.01