Savings Plan and Future Cost Estimation for Franklin University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2041$77,669
Monthly savings required$615

How much will it cost to send your child to Franklin University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $310,676.62 for students enrolling in 2041 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $614.81 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$29,951.00
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 $614.81 $0.00 $0.00 $614.81
2 $614.81 $614.81 $0.00 $3.48 $1,233.10
3 $1,233.10 $614.81 $0.00 $6.97 $1,854.88
4 $1,854.88 $614.81 $0.00 $10.49 $2,480.18
5 $2,480.18 $614.81 $0.00 $14.02 $3,109.01
6 $3,109.01 $614.81 $0.00 $17.58 $3,741.40
7 $3,741.40 $614.81 $0.00 $21.15 $4,377.36
8 $4,377.36 $614.81 $0.00 $24.75 $5,016.92
9 $5,016.92 $614.81 $0.00 $28.37 $5,660.10
10 $5,660.10 $614.81 $0.00 $32.00 $6,306.91
11 $6,306.91 $614.81 $0.00 $35.66 $6,957.38
12 $6,957.38 $614.81 $0.00 $39.34 $7,611.53
13 $7,611.53 $614.81 $0.00 $43.04 $8,269.38
14 $8,269.38 $614.81 $0.00 $46.76 $8,930.95
15 $8,930.95 $614.81 $0.00 $50.50 $9,596.26
16 $9,596.26 $614.81 $0.00 $54.26 $10,265.33
17 $10,265.33 $614.81 $0.00 $58.04 $10,938.18
18 $10,938.18 $614.81 $0.00 $61.85 $11,614.84
19 $11,614.84 $614.81 $0.00 $65.67 $12,295.32
20 $12,295.32 $614.81 $0.00 $69.52 $12,979.65
21 $12,979.65 $614.81 $0.00 $73.39 $13,667.85
22 $13,667.85 $614.81 $0.00 $77.28 $14,359.94
23 $14,359.94 $614.81 $0.00 $81.19 $15,055.94
24 $15,055.94 $614.81 $0.00 $85.13 $15,755.88
25 $15,755.88 $614.81 $0.00 $89.09 $16,459.78
26 $16,459.78 $614.81 $0.00 $93.07 $17,167.66
27 $17,167.66 $614.81 $0.00 $97.07 $17,879.54
28 $17,879.54 $614.81 $0.00 $101.09 $18,595.44
29 $18,595.44 $614.81 $0.00 $105.14 $19,315.39
30 $19,315.39 $614.81 $0.00 $109.21 $20,039.41
31 $20,039.41 $614.81 $0.00 $113.31 $20,767.53
32 $20,767.53 $614.81 $0.00 $117.42 $21,499.76
33 $21,499.76 $614.81 $0.00 $121.56 $22,236.13
34 $22,236.13 $614.81 $0.00 $125.73 $22,976.67
35 $22,976.67 $614.81 $0.00 $129.91 $23,721.39
36 $23,721.39 $614.81 $0.00 $134.12 $24,470.32
37 $24,470.32 $614.81 $0.00 $138.36 $25,223.49
38 $25,223.49 $614.81 $0.00 $142.62 $25,980.92
39 $25,980.92 $614.81 $0.00 $146.90 $26,742.63
40 $26,742.63 $614.81 $0.00 $151.21 $27,508.65
41 $27,508.65 $614.81 $0.00 $155.54 $28,279.00
42 $28,279.00 $614.81 $0.00 $159.89 $29,053.70
43 $29,053.70 $614.81 $0.00 $164.27 $29,832.78
44 $29,832.78 $614.81 $0.00 $168.68 $30,616.27
45 $30,616.27 $614.81 $0.00 $173.11 $31,404.19
46 $31,404.19 $614.81 $0.00 $177.56 $32,196.56
47 $32,196.56 $614.81 $0.00 $182.04 $32,993.41
48 $32,993.41 $614.81 $0.00 $186.55 $33,794.77
49 $33,794.77 $614.81 $0.00 $191.08 $34,600.66
50 $34,600.66 $614.81 $0.00 $195.64 $35,411.11
51 $35,411.11 $614.81 $0.00 $200.22 $36,226.14
52 $36,226.14 $614.81 $0.00 $204.83 $37,045.78
53 $37,045.78 $614.81 $0.00 $209.46 $37,870.05
54 $37,870.05 $614.81 $0.00 $214.12 $38,698.98
55 $38,698.98 $614.81 $0.00 $218.81 $39,532.60
56 $39,532.60 $614.81 $0.00 $223.52 $40,370.93
57 $40,370.93 $614.81 $0.00 $228.26 $41,214.00
58 $41,214.00 $614.81 $0.00 $233.03 $42,061.84
59 $42,061.84 $614.81 $0.00 $237.82 $42,914.47
60 $42,914.47 $614.81 $0.00 $242.64 $43,771.92
61 $43,771.92 $614.81 $0.00 $247.49 $44,634.22
62 $44,634.22 $614.81 $0.00 $252.37 $45,501.40
63 $45,501.40 $614.81 $0.00 $257.27 $46,373.48
64 $46,373.48 $614.81 $0.00 $262.20 $47,250.49
65 $47,250.49 $614.81 $0.00 $267.16 $48,132.46
66 $48,132.46 $614.81 $0.00 $272.15 $49,019.42
67 $49,019.42 $614.81 $0.00 $277.16 $49,911.39
68 $49,911.39 $614.81 $0.00 $282.21 $50,808.41
69 $50,808.41 $614.81 $0.00 $287.28 $51,710.50
70 $51,710.50 $614.81 $0.00 $292.38 $52,617.69
71 $52,617.69 $614.81 $0.00 $297.51 $53,530.01
72 $53,530.01 $614.81 $0.00 $302.67 $54,447.49
73 $54,447.49 $614.81 $0.00 $307.85 $55,370.15
74 $55,370.15 $614.81 $0.00 $313.07 $56,298.03
75 $56,298.03 $614.81 $0.00 $318.32 $57,231.16
76 $57,231.16 $614.81 $0.00 $323.59 $58,169.56
77 $58,169.56 $614.81 $0.00 $328.90 $59,113.27
78 $59,113.27 $614.81 $0.00 $334.24 $60,062.32
79 $60,062.32 $614.81 $0.00 $339.60 $61,016.73
80 $61,016.73 $614.81 $0.00 $345.00 $61,976.54
81 $61,976.54 $614.81 $0.00 $350.42 $62,941.77
82 $62,941.77 $614.81 $0.00 $355.88 $63,912.46
83 $63,912.46 $614.81 $0.00 $361.37 $64,888.64
84 $64,888.64 $614.81 $0.00 $366.89 $65,870.34
85 $65,870.34 $614.81 $0.00 $372.44 $66,857.59
86 $66,857.59 $614.81 $0.00 $378.02 $67,850.42
87 $67,850.42 $614.81 $0.00 $383.64 $68,848.87
88 $68,848.87 $614.81 $0.00 $389.28 $69,852.96
89 $69,852.96 $614.81 $0.00 $394.96 $70,862.73
90 $70,862.73 $614.81 $0.00 $400.67 $71,878.21
91 $71,878.21 $614.81 $0.00 $406.41 $72,899.43
92 $72,899.43 $614.81 $0.00 $412.18 $73,926.42
93 $73,926.42 $614.81 $0.00 $417.99 $74,959.22
94 $74,959.22 $614.81 $0.00 $423.83 $75,997.86
95 $75,997.86 $614.81 $0.00 $429.70 $77,042.37
96 $77,042.37 $614.81 $0.00 $435.61 $78,092.79
97 $78,092.79 $614.81 $0.00 $441.55 $79,149.15
98 $79,149.15 $614.81 $0.00 $447.52 $80,211.48
99 $80,211.48 $614.81 $0.00 $453.53 $81,279.82
100 $81,279.82 $614.81 $0.00 $459.57 $82,354.20
101 $82,354.20 $614.81 $0.00 $465.64 $83,434.65
102 $83,434.65 $614.81 $0.00 $471.75 $84,521.21
103 $84,521.21 $614.81 $0.00 $477.90 $85,613.92
104 $85,613.92 $614.81 $0.00 $484.07 $86,712.80
105 $86,712.80 $614.81 $0.00 $490.29 $87,817.90
106 $87,817.90 $614.81 $0.00 $496.54 $88,929.25
107 $88,929.25 $614.81 $0.00 $502.82 $90,046.88
108 $90,046.88 $614.81 $0.00 $509.14 $91,170.83
109 $91,170.83 $614.81 $0.00 $515.49 $92,301.13
110 $92,301.13 $614.81 $0.00 $521.88 $93,437.82
111 $93,437.82 $614.81 $0.00 $528.31 $94,580.94
112 $94,580.94 $614.81 $0.00 $534.77 $95,730.52
113 $95,730.52 $614.81 $0.00 $541.27 $96,886.60
114 $96,886.60 $614.81 $0.00 $547.81 $98,049.22
115 $98,049.22 $614.81 $0.00 $554.38 $99,218.41
116 $99,218.41 $614.81 $0.00 $561.00 $100,394.22
117 $100,394.22 $614.81 $0.00 $567.64 $101,576.67
118 $101,576.67 $614.81 $0.00 $574.33 $102,765.81
119 $102,765.81 $614.81 $0.00 $581.05 $103,961.67
120 $103,961.67 $614.81 $0.00 $587.81 $105,164.29
121 $105,164.29 $614.81 $0.00 $594.61 $106,373.71
122 $106,373.71 $614.81 $0.00 $601.45 $107,589.97
123 $107,589.97 $614.81 $0.00 $608.33 $108,813.11
124 $108,813.11 $614.81 $0.00 $615.25 $110,043.17
125 $110,043.17 $614.81 $0.00 $622.20 $111,280.18
126 $111,280.18 $614.81 $0.00 $629.19 $112,524.18
127 $112,524.18 $614.81 $0.00 $636.23 $113,775.22
128 $113,775.22 $614.81 $0.00 $643.30 $115,033.33
129 $115,033.33 $614.81 $0.00 $650.42 $116,298.56
130 $116,298.56 $614.81 $0.00 $657.57 $117,570.94
131 $117,570.94 $614.81 $0.00 $664.76 $118,850.51
132 $118,850.51 $614.81 $0.00 $672.00 $120,137.32
133 $120,137.32 $614.81 $0.00 $679.27 $121,431.40
134 $121,431.40 $614.81 $0.00 $686.59 $122,732.80
135 $122,732.80 $614.81 $0.00 $693.95 $124,041.56
136 $124,041.56 $614.81 $0.00 $701.35 $125,357.72
137 $125,357.72 $614.81 $0.00 $708.79 $126,681.32
138 $126,681.32 $614.81 $0.00 $716.27 $128,012.40
139 $128,012.40 $614.81 $0.00 $723.80 $129,351.01
140 $129,351.01 $614.81 $0.00 $731.37 $130,697.19
141 $130,697.19 $614.81 $0.00 $738.98 $132,050.98
142 $132,050.98 $614.81 $0.00 $746.64 $133,412.43
143 $133,412.43 $614.81 $0.00 $754.33 $134,781.57
144 $134,781.57 $614.81 $0.00 $762.07 $136,158.45
145 $136,158.45 $614.81 $0.00 $769.86 $137,543.12
146 $137,543.12 $614.81 $0.00 $777.69 $138,935.62
147 $138,935.62 $614.81 $0.00 $785.56 $140,335.99
148 $140,335.99 $614.81 $0.00 $793.48 $141,744.28
149 $141,744.28 $614.81 $0.00 $801.44 $143,160.53
150 $143,160.53 $614.81 $0.00 $809.45 $144,584.79
151 $144,584.79 $614.81 $0.00 $817.50 $146,017.10
152 $146,017.10 $614.81 $0.00 $825.60 $147,457.51
153 $147,457.51 $614.81 $0.00 $833.75 $148,906.07
154 $148,906.07 $614.81 $0.00 $841.94 $150,362.82
155 $150,362.82 $614.81 $0.00 $850.17 $151,827.80
156 $151,827.80 $614.81 $0.00 $858.46 $153,301.07
157 $153,301.07 $614.81 $0.00 $866.79 $154,782.67
158 $154,782.67 $614.81 $0.00 $875.16 $156,272.64
159 $156,272.64 $614.81 $0.00 $883.59 $157,771.04
160 $157,771.04 $614.81 $0.00 $892.06 $159,277.91
161 $159,277.91 $614.81 $0.00 $900.58 $160,793.30
162 $160,793.30 $614.81 $0.00 $909.15 $162,317.26
163 $162,317.26 $614.81 $0.00 $917.77 $163,849.84
164 $163,849.84 $614.81 $0.00 $926.43 $165,391.08
165 $165,391.08 $614.81 $0.00 $935.15 $166,941.04
166 $166,941.04 $614.81 $0.00 $943.91 $168,499.76
167 $168,499.76 $614.81 $0.00 $952.72 $170,067.29
168 $170,067.29 $614.81 $0.00 $961.59 $171,643.69
169 $171,643.69 $614.81 $0.00 $970.50 $173,229.00
170 $173,229.00 $614.81 $0.00 $979.46 $174,823.27
171 $174,823.27 $614.81 $0.00 $988.48 $176,426.56
172 $176,426.56 $614.81 $0.00 $997.54 $178,038.91
173 $178,038.91 $614.81 $0.00 $1,006.66 $179,660.38
174 $179,660.38 $614.81 $0.00 $1,015.83 $181,291.02
175 $181,291.02 $614.81 $0.00 $1,025.05 $182,930.88
176 $182,930.88 $614.81 $0.00 $1,034.32 $184,580.01
177 $184,580.01 $614.81 $0.00 $1,043.64 $186,238.46
178 $186,238.46 $614.81 $0.00 $1,053.02 $187,906.29
179 $187,906.29 $614.81 $0.00 $1,062.45 $189,583.55
180 $189,583.55 $614.81 $0.00 $1,071.93 $191,270.29
181 $191,270.29 $614.81 $0.00 $1,081.47 $192,966.57
182 $192,966.57 $614.81 $0.00 $1,091.06 $194,672.44
183 $194,672.44 $614.81 $0.00 $1,100.71 $196,387.96
184 $196,387.96 $614.81 $0.00 $1,110.41 $198,113.18
185 $198,113.18 $614.81 $0.00 $1,120.16 $199,848.15
186 $199,848.15 $614.81 $0.00 $1,129.97 $201,592.93
187 $201,592.93 $614.81 $0.00 $1,139.84 $203,347.58
188 $203,347.58 $614.81 $0.00 $1,149.76 $205,112.15
189 $205,112.15 $614.81 $0.00 $1,159.73 $206,886.69
190 $206,886.69 $614.81 $0.00 $1,169.77 $208,671.27
191 $208,671.27 $614.81 $0.00 $1,179.86 $210,465.94
192 $210,465.94 $614.81 $0.00 $1,190.01 $212,270.76
193 $212,270.76 $614.81 $0.00 $1,200.21 $214,085.78
194 $214,085.78 $614.81 $0.00 $1,210.47 $215,911.06
195 $215,911.06 $614.81 $0.00 $1,220.79 $217,746.66
196 $217,746.66 $614.81 $0.00 $1,231.17 $219,592.64
197 $219,592.64 $614.81 $0.00 $1,241.61 $221,449.06
198 $221,449.06 $614.81 $0.00 $1,252.11 $223,315.98
199 $223,315.98 $614.81 $0.00 $1,262.66 $225,193.45
200 $225,193.45 $614.81 $0.00 $1,273.28 $227,081.54
201 $227,081.54 $614.81 $0.00 $1,283.95 $228,980.30
202 $228,980.30 $614.81 $0.00 $1,294.69 $230,889.80
203 $230,889.80 $614.81 $0.00 $1,305.48 $232,810.09
204 $232,810.09 $614.81 $0.00 $1,316.34 $234,741.24
205 $234,741.24 $614.81 $0.00 $1,327.26 $236,683.31
206 $236,683.31 $614.81 $0.00 $1,338.24 $238,636.36
207 $238,636.36 $614.81 $0.00 $1,349.28 $240,600.45
208 $240,600.45 $614.81 $0.00 $1,360.39 $242,575.65
209 $242,575.65 $614.81 $0.00 $1,371.56 $244,562.02
210 $244,562.02 $614.81 $0.00 $1,382.79 $246,559.62
211 $246,559.62 $614.81 $0.00 $1,394.08 $248,568.51
212 $248,568.51 $614.81 $0.00 $1,405.44 $250,588.76
213 $250,588.76 $614.81 $0.00 $1,416.87 $252,620.44
214 $252,620.44 $614.81 $0.00 $1,428.35 $254,663.60
215 $254,663.60 $614.81 $0.00 $1,439.91 $256,718.32
216 $256,718.32 $614.81 $0.00 $1,451.52 $258,784.65
217 $258,784.65 $614.81 $72,080.65 $1,463.21 $188,782.02
218 $188,782.02 $614.81 $0.00 $1,067.40 $190,464.23
219 $190,464.23 $614.81 $0.00 $1,076.91 $192,155.95
220 $192,155.95 $614.81 $0.00 $1,086.48 $193,857.24
221 $193,857.24 $614.81 $0.00 $1,096.10 $195,568.15
222 $195,568.15 $614.81 $0.00 $1,105.77 $197,288.73
223 $197,288.73 $614.81 $0.00 $1,115.50 $199,019.04
224 $199,019.04 $614.81 $0.00 $1,125.28 $200,759.13
225 $200,759.13 $614.81 $0.00 $1,135.12 $202,509.06
226 $202,509.06 $614.81 $0.00 $1,145.02 $204,268.89
227 $204,268.89 $614.81 $0.00 $1,154.97 $206,038.67
228 $206,038.67 $614.81 $0.00 $1,164.97 $207,818.45
229 $207,818.45 $614.81 $75,684.69 $1,175.04 $133,923.61
230 $133,923.61 $614.81 $0.00 $757.22 $135,295.64
231 $135,295.64 $614.81 $0.00 $764.98 $136,675.43
232 $136,675.43 $614.81 $0.00 $772.78 $138,063.02
233 $138,063.02 $614.81 $0.00 $780.63 $139,458.46
234 $139,458.46 $614.81 $0.00 $788.52 $140,861.79
235 $140,861.79 $614.81 $0.00 $796.45 $142,273.05
236 $142,273.05 $614.81 $0.00 $804.43 $143,692.29
237 $143,692.29 $614.81 $0.00 $812.46 $145,119.56
238 $145,119.56 $614.81 $0.00 $820.53 $146,554.90
239 $146,554.90 $614.81 $0.00 $828.64 $147,998.35
240 $147,998.35 $614.81 $0.00 $836.80 $149,449.96
241 $149,449.96 $614.81 $79,468.92 $845.01 $71,440.86
242 $71,440.86 $614.81 $0.00 $403.94 $72,459.61
243 $72,459.61 $614.81 $0.00 $409.70 $73,484.12
244 $73,484.12 $614.81 $0.00 $415.49 $74,514.42
245 $74,514.42 $614.81 $0.00 $421.32 $75,550.55
246 $75,550.55 $614.81 $0.00 $427.17 $76,592.53
247 $76,592.53 $614.81 $0.00 $433.07 $77,640.41
248 $77,640.41 $614.81 $0.00 $438.99 $78,694.21
249 $78,694.21 $614.81 $0.00 $444.95 $79,753.97
250 $79,753.97 $614.81 $0.00 $450.94 $80,819.72
251 $80,819.72 $614.81 $0.00 $456.97 $81,891.50
252 $81,891.50 $614.81 $0.00 $463.03 $82,969.34
253 $82,969.34 $0.00 $83,442.37 $469.12 ($3.91)