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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$51,416
Monthly savings required$407

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 $205,662.09 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $407.00 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$19,827.00
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 $407.00 $0.00 $0.00 $407.00
2 $407.00 $407.00 $0.00 $2.30 $816.30
3 $816.30 $407.00 $0.00 $4.62 $1,227.92
4 $1,227.92 $407.00 $0.00 $6.94 $1,641.86
5 $1,641.86 $407.00 $0.00 $9.28 $2,058.14
6 $2,058.14 $407.00 $0.00 $11.64 $2,476.78
7 $2,476.78 $407.00 $0.00 $14.00 $2,897.78
8 $2,897.78 $407.00 $0.00 $16.38 $3,321.16
9 $3,321.16 $407.00 $0.00 $18.78 $3,746.94
10 $3,746.94 $407.00 $0.00 $21.19 $4,175.13
11 $4,175.13 $407.00 $0.00 $23.61 $4,605.74
12 $4,605.74 $407.00 $0.00 $26.04 $5,038.78
13 $5,038.78 $407.00 $0.00 $28.49 $5,474.27
14 $5,474.27 $407.00 $0.00 $30.95 $5,912.22
15 $5,912.22 $407.00 $0.00 $33.43 $6,352.65
16 $6,352.65 $407.00 $0.00 $35.92 $6,795.57
17 $6,795.57 $407.00 $0.00 $38.42 $7,240.99
18 $7,240.99 $407.00 $0.00 $40.94 $7,688.93
19 $7,688.93 $407.00 $0.00 $43.47 $8,139.40
20 $8,139.40 $407.00 $0.00 $46.02 $8,592.42
21 $8,592.42 $407.00 $0.00 $48.58 $9,048.00
22 $9,048.00 $407.00 $0.00 $51.16 $9,506.16
23 $9,506.16 $407.00 $0.00 $53.75 $9,966.91
24 $9,966.91 $407.00 $0.00 $56.35 $10,430.26
25 $10,430.26 $407.00 $0.00 $58.97 $10,896.23
26 $10,896.23 $407.00 $0.00 $61.61 $11,364.84
27 $11,364.84 $407.00 $0.00 $64.26 $11,836.10
28 $11,836.10 $407.00 $0.00 $66.92 $12,310.02
29 $12,310.02 $407.00 $0.00 $69.60 $12,786.62
30 $12,786.62 $407.00 $0.00 $72.30 $13,265.92
31 $13,265.92 $407.00 $0.00 $75.01 $13,747.93
32 $13,747.93 $407.00 $0.00 $77.73 $14,232.66
33 $14,232.66 $407.00 $0.00 $80.47 $14,720.13
34 $14,720.13 $407.00 $0.00 $83.23 $15,210.36
35 $15,210.36 $407.00 $0.00 $86.00 $15,703.36
36 $15,703.36 $407.00 $0.00 $88.79 $16,199.15
37 $16,199.15 $407.00 $0.00 $91.59 $16,697.74
38 $16,697.74 $407.00 $0.00 $94.41 $17,199.15
39 $17,199.15 $407.00 $0.00 $97.25 $17,703.40
40 $17,703.40 $407.00 $0.00 $100.10 $18,210.50
41 $18,210.50 $407.00 $0.00 $102.96 $18,720.46
42 $18,720.46 $407.00 $0.00 $105.85 $19,233.31
43 $19,233.31 $407.00 $0.00 $108.75 $19,749.06
44 $19,749.06 $407.00 $0.00 $111.66 $20,267.72
45 $20,267.72 $407.00 $0.00 $114.60 $20,789.32
46 $20,789.32 $407.00 $0.00 $117.55 $21,313.87
47 $21,313.87 $407.00 $0.00 $120.51 $21,841.38
48 $21,841.38 $407.00 $0.00 $123.49 $22,371.87
49 $22,371.87 $407.00 $0.00 $126.49 $22,905.36
50 $22,905.36 $407.00 $0.00 $129.51 $23,441.87
51 $23,441.87 $407.00 $0.00 $132.54 $23,981.41
52 $23,981.41 $407.00 $0.00 $135.59 $24,524.00
53 $24,524.00 $407.00 $0.00 $138.66 $25,069.66
54 $25,069.66 $407.00 $0.00 $141.75 $25,618.41
55 $25,618.41 $407.00 $0.00 $144.85 $26,170.26
56 $26,170.26 $407.00 $0.00 $147.97 $26,725.23
57 $26,725.23 $407.00 $0.00 $151.11 $27,283.34
58 $27,283.34 $407.00 $0.00 $154.26 $27,844.60
59 $27,844.60 $407.00 $0.00 $157.44 $28,409.04
60 $28,409.04 $407.00 $0.00 $160.63 $28,976.67
61 $28,976.67 $407.00 $0.00 $163.84 $29,547.51
62 $29,547.51 $407.00 $0.00 $167.07 $30,121.58
63 $30,121.58 $407.00 $0.00 $170.31 $30,698.89
64 $30,698.89 $407.00 $0.00 $173.58 $31,279.47
65 $31,279.47 $407.00 $0.00 $176.86 $31,863.33
66 $31,863.33 $407.00 $0.00 $180.16 $32,450.49
67 $32,450.49 $407.00 $0.00 $183.48 $33,040.97
68 $33,040.97 $407.00 $0.00 $186.82 $33,634.79
69 $33,634.79 $407.00 $0.00 $190.18 $34,231.97
70 $34,231.97 $407.00 $0.00 $193.55 $34,832.52
71 $34,832.52 $407.00 $0.00 $196.95 $35,436.47
72 $35,436.47 $407.00 $0.00 $200.36 $36,043.83
73 $36,043.83 $407.00 $0.00 $203.80 $36,654.63
74 $36,654.63 $407.00 $0.00 $207.25 $37,268.88
75 $37,268.88 $407.00 $0.00 $210.72 $37,886.60
76 $37,886.60 $407.00 $0.00 $214.22 $38,507.82
77 $38,507.82 $407.00 $0.00 $217.73 $39,132.55
78 $39,132.55 $407.00 $0.00 $221.26 $39,760.81
79 $39,760.81 $407.00 $0.00 $224.81 $40,392.62
80 $40,392.62 $407.00 $0.00 $228.39 $41,028.01
81 $41,028.01 $407.00 $0.00 $231.98 $41,666.99
82 $41,666.99 $407.00 $0.00 $235.59 $42,309.58
83 $42,309.58 $407.00 $0.00 $239.22 $42,955.80
84 $42,955.80 $407.00 $0.00 $242.88 $43,605.68
85 $43,605.68 $407.00 $0.00 $246.55 $44,259.23
86 $44,259.23 $407.00 $0.00 $250.25 $44,916.48
87 $44,916.48 $407.00 $0.00 $253.96 $45,577.44
88 $45,577.44 $407.00 $0.00 $257.70 $46,242.14
89 $46,242.14 $407.00 $0.00 $261.46 $46,910.60
90 $46,910.60 $407.00 $0.00 $265.24 $47,582.84
91 $47,582.84 $407.00 $0.00 $269.04 $48,258.88
92 $48,258.88 $407.00 $0.00 $272.86 $48,938.74
93 $48,938.74 $407.00 $0.00 $276.71 $49,622.45
94 $49,622.45 $407.00 $0.00 $280.57 $50,310.02
95 $50,310.02 $407.00 $0.00 $284.46 $51,001.48
96 $51,001.48 $407.00 $0.00 $288.37 $51,696.85
97 $51,696.85 $407.00 $0.00 $292.30 $52,396.15
98 $52,396.15 $407.00 $0.00 $296.26 $53,099.41
99 $53,099.41 $407.00 $0.00 $300.23 $53,806.64
100 $53,806.64 $407.00 $0.00 $304.23 $54,517.87
101 $54,517.87 $407.00 $0.00 $308.25 $55,233.12
102 $55,233.12 $407.00 $0.00 $312.30 $55,952.42
103 $55,952.42 $407.00 $0.00 $316.36 $56,675.78
104 $56,675.78 $407.00 $0.00 $320.45 $57,403.23
105 $57,403.23 $407.00 $0.00 $324.57 $58,134.80
106 $58,134.80 $407.00 $0.00 $328.70 $58,870.50
107 $58,870.50 $407.00 $0.00 $332.86 $59,610.36
108 $59,610.36 $407.00 $0.00 $337.05 $60,354.41
109 $60,354.41 $407.00 $0.00 $341.25 $61,102.66
110 $61,102.66 $407.00 $0.00 $345.48 $61,855.14
111 $61,855.14 $407.00 $0.00 $349.74 $62,611.88
112 $62,611.88 $407.00 $0.00 $354.02 $63,372.90
113 $63,372.90 $407.00 $0.00 $358.32 $64,138.22
114 $64,138.22 $407.00 $0.00 $362.65 $64,907.87
115 $64,907.87 $407.00 $0.00 $367.00 $65,681.87
116 $65,681.87 $407.00 $0.00 $371.37 $66,460.24
117 $66,460.24 $407.00 $0.00 $375.78 $67,243.02
118 $67,243.02 $407.00 $0.00 $380.20 $68,030.22
119 $68,030.22 $407.00 $0.00 $384.65 $68,821.87
120 $68,821.87 $407.00 $0.00 $389.13 $69,618.00
121 $69,618.00 $407.00 $0.00 $393.63 $70,418.63
122 $70,418.63 $407.00 $0.00 $398.16 $71,223.79
123 $71,223.79 $407.00 $0.00 $402.71 $72,033.50
124 $72,033.50 $407.00 $0.00 $407.29 $72,847.79
125 $72,847.79 $407.00 $0.00 $411.89 $73,666.68
126 $73,666.68 $407.00 $0.00 $416.52 $74,490.20
127 $74,490.20 $407.00 $0.00 $421.18 $75,318.38
128 $75,318.38 $407.00 $0.00 $425.86 $76,151.24
129 $76,151.24 $407.00 $0.00 $430.57 $76,988.81
130 $76,988.81 $407.00 $0.00 $435.31 $77,831.12
131 $77,831.12 $407.00 $0.00 $440.07 $78,678.19
132 $78,678.19 $407.00 $0.00 $444.86 $79,530.05
133 $79,530.05 $407.00 $0.00 $449.67 $80,386.72
134 $80,386.72 $407.00 $0.00 $454.52 $81,248.24
135 $81,248.24 $407.00 $0.00 $459.39 $82,114.63
136 $82,114.63 $407.00 $0.00 $464.29 $82,985.92
137 $82,985.92 $407.00 $0.00 $469.21 $83,862.13
138 $83,862.13 $407.00 $0.00 $474.17 $84,743.30
139 $84,743.30 $407.00 $0.00 $479.15 $85,629.45
140 $85,629.45 $407.00 $0.00 $484.16 $86,520.61
141 $86,520.61 $407.00 $0.00 $489.20 $87,416.81
142 $87,416.81 $407.00 $0.00 $494.27 $88,318.08
143 $88,318.08 $407.00 $0.00 $499.36 $89,224.44
144 $89,224.44 $407.00 $0.00 $504.49 $90,135.93
145 $90,135.93 $407.00 $0.00 $509.64 $91,052.57
146 $91,052.57 $407.00 $0.00 $514.82 $91,974.39
147 $91,974.39 $407.00 $0.00 $520.04 $92,901.43
148 $92,901.43 $407.00 $0.00 $525.28 $93,833.71
149 $93,833.71 $407.00 $0.00 $530.55 $94,771.26
150 $94,771.26 $407.00 $0.00 $535.85 $95,714.11
151 $95,714.11 $407.00 $0.00 $541.18 $96,662.29
152 $96,662.29 $407.00 $0.00 $546.54 $97,615.83
153 $97,615.83 $407.00 $0.00 $551.93 $98,574.76
154 $98,574.76 $407.00 $0.00 $557.36 $99,539.12
155 $99,539.12 $407.00 $0.00 $562.81 $100,508.93
156 $100,508.93 $407.00 $0.00 $568.29 $101,484.22
157 $101,484.22 $407.00 $0.00 $573.81 $102,465.03
158 $102,465.03 $407.00 $0.00 $579.35 $103,451.38
159 $103,451.38 $407.00 $0.00 $584.93 $104,443.31
160 $104,443.31 $407.00 $0.00 $590.54 $105,440.85
161 $105,440.85 $407.00 $0.00 $596.18 $106,444.03
162 $106,444.03 $407.00 $0.00 $601.85 $107,452.88
163 $107,452.88 $407.00 $0.00 $607.55 $108,467.43
164 $108,467.43 $407.00 $0.00 $613.29 $109,487.72
165 $109,487.72 $407.00 $0.00 $619.06 $110,513.78
166 $110,513.78 $407.00 $0.00 $624.86 $111,545.64
167 $111,545.64 $407.00 $0.00 $630.70 $112,583.34
168 $112,583.34 $407.00 $0.00 $636.56 $113,626.90
169 $113,626.90 $407.00 $0.00 $642.46 $114,676.36
170 $114,676.36 $407.00 $0.00 $648.40 $115,731.76
171 $115,731.76 $407.00 $0.00 $654.36 $116,793.12
172 $116,793.12 $407.00 $0.00 $660.37 $117,860.49
173 $117,860.49 $407.00 $0.00 $666.40 $118,933.89
174 $118,933.89 $407.00 $0.00 $672.47 $120,013.36
175 $120,013.36 $407.00 $0.00 $678.57 $121,098.93
176 $121,098.93 $407.00 $0.00 $684.71 $122,190.64
177 $122,190.64 $407.00 $0.00 $690.88 $123,288.52
178 $123,288.52 $407.00 $0.00 $697.09 $124,392.61
179 $124,392.61 $407.00 $0.00 $703.33 $125,502.94
180 $125,502.94 $407.00 $0.00 $709.61 $126,619.55
181 $126,619.55 $407.00 $0.00 $715.93 $127,742.48
182 $127,742.48 $407.00 $0.00 $722.27 $128,871.75
183 $128,871.75 $407.00 $0.00 $728.66 $130,007.41
184 $130,007.41 $407.00 $0.00 $735.08 $131,149.49
185 $131,149.49 $407.00 $0.00 $741.54 $132,298.03
186 $132,298.03 $407.00 $0.00 $748.03 $133,453.06
187 $133,453.06 $407.00 $0.00 $754.56 $134,614.62
188 $134,614.62 $407.00 $0.00 $761.13 $135,782.75
189 $135,782.75 $407.00 $0.00 $767.74 $136,957.49
190 $136,957.49 $407.00 $0.00 $774.38 $138,138.87
191 $138,138.87 $407.00 $0.00 $781.06 $139,326.93
192 $139,326.93 $407.00 $0.00 $787.77 $140,521.70
193 $140,521.70 $407.00 $0.00 $794.53 $141,723.23
194 $141,723.23 $407.00 $0.00 $801.32 $142,931.55
195 $142,931.55 $407.00 $0.00 $808.16 $144,146.71
196 $144,146.71 $407.00 $0.00 $815.03 $145,368.74
197 $145,368.74 $407.00 $0.00 $821.94 $146,597.68
198 $146,597.68 $407.00 $0.00 $828.88 $147,833.56
199 $147,833.56 $407.00 $0.00 $835.87 $149,076.43
200 $149,076.43 $407.00 $0.00 $842.90 $150,326.33
201 $150,326.33 $407.00 $0.00 $849.97 $151,583.30
202 $151,583.30 $407.00 $0.00 $857.07 $152,847.37
203 $152,847.37 $407.00 $0.00 $864.22 $154,118.59
204 $154,118.59 $407.00 $0.00 $871.41 $155,397.00
205 $155,397.00 $407.00 $0.00 $878.64 $156,682.64
206 $156,682.64 $407.00 $0.00 $885.91 $157,975.55
207 $157,975.55 $407.00 $0.00 $893.22 $159,275.77
208 $159,275.77 $407.00 $0.00 $900.57 $160,583.34
209 $160,583.34 $407.00 $0.00 $907.96 $161,898.30
210 $161,898.30 $407.00 $0.00 $915.40 $163,220.70
211 $163,220.70 $407.00 $0.00 $922.87 $164,550.57
212 $164,550.57 $407.00 $0.00 $930.39 $165,887.96
213 $165,887.96 $407.00 $0.00 $937.95 $167,232.91
214 $167,232.91 $407.00 $0.00 $945.56 $168,585.47
215 $168,585.47 $407.00 $0.00 $953.21 $169,945.68
216 $169,945.68 $407.00 $0.00 $960.90 $171,313.58
217 $171,313.58 $407.00 $47,716.04 $968.63 $124,973.17
218 $124,973.17 $407.00 $0.00 $706.62 $126,086.79
219 $126,086.79 $407.00 $0.00 $712.91 $127,206.70
220 $127,206.70 $407.00 $0.00 $719.25 $128,332.95
221 $128,332.95 $407.00 $0.00 $725.61 $129,465.56
222 $129,465.56 $407.00 $0.00 $732.02 $130,604.58
223 $130,604.58 $407.00 $0.00 $738.46 $131,750.04
224 $131,750.04 $407.00 $0.00 $744.93 $132,901.97
225 $132,901.97 $407.00 $0.00 $751.45 $134,060.42
226 $134,060.42 $407.00 $0.00 $758.00 $135,225.42
227 $135,225.42 $407.00 $0.00 $764.58 $136,397.00
228 $136,397.00 $407.00 $0.00 $771.21 $137,575.21
229 $137,575.21 $407.00 $50,101.84 $777.87 $88,658.24
230 $88,658.24 $407.00 $0.00 $501.29 $89,566.53
231 $89,566.53 $407.00 $0.00 $506.42 $90,479.95
232 $90,479.95 $407.00 $0.00 $511.59 $91,398.54
233 $91,398.54 $407.00 $0.00 $516.78 $92,322.32
234 $92,322.32 $407.00 $0.00 $522.00 $93,251.32
235 $93,251.32 $407.00 $0.00 $527.26 $94,185.58
236 $94,185.58 $407.00 $0.00 $532.54 $95,125.12
237 $95,125.12 $407.00 $0.00 $537.85 $96,069.97
238 $96,069.97 $407.00 $0.00 $543.19 $97,020.16
239 $97,020.16 $407.00 $0.00 $548.57 $97,975.73
240 $97,975.73 $407.00 $0.00 $553.97 $98,936.70
241 $98,936.70 $407.00 $52,606.93 $559.40 $47,296.17
242 $47,296.17 $407.00 $0.00 $267.42 $47,970.59
243 $47,970.59 $407.00 $0.00 $271.23 $48,648.82
244 $48,648.82 $407.00 $0.00 $275.07 $49,330.89
245 $49,330.89 $407.00 $0.00 $278.92 $50,016.81
246 $50,016.81 $407.00 $0.00 $282.80 $50,706.61
247 $50,706.61 $407.00 $0.00 $286.70 $51,400.31
248 $51,400.31 $407.00 $0.00 $290.62 $52,097.93
249 $52,097.93 $407.00 $0.00 $294.57 $52,799.50
250 $52,799.50 $407.00 $0.00 $298.54 $53,505.04
251 $53,505.04 $407.00 $0.00 $302.53 $54,214.57
252 $54,214.57 $407.00 $0.00 $306.54 $54,928.11
253 $54,928.11 $0.00 $55,237.28 $310.57 $1.40