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 2042$116,696
Monthly savings required$922

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 $466,783.61 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $922.28 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$31,105.00
Years until enrollment18
Annual Tuition Increase7%
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 $922.28 $0.00 $0.00 $922.28
2 $922.28 $922.28 $0.00 $5.21 $1,849.77
3 $1,849.77 $922.28 $0.00 $10.46 $2,782.51
4 $2,782.51 $922.28 $0.00 $15.73 $3,720.52
5 $3,720.52 $922.28 $0.00 $21.04 $4,663.84
6 $4,663.84 $922.28 $0.00 $26.37 $5,612.49
7 $5,612.49 $922.28 $0.00 $31.73 $6,566.50
8 $6,566.50 $922.28 $0.00 $37.13 $7,525.91
9 $7,525.91 $922.28 $0.00 $42.55 $8,490.74
10 $8,490.74 $922.28 $0.00 $48.01 $9,461.03
11 $9,461.03 $922.28 $0.00 $53.49 $10,436.80
12 $10,436.80 $922.28 $0.00 $59.01 $11,418.09
13 $11,418.09 $922.28 $0.00 $64.56 $12,404.93
14 $12,404.93 $922.28 $0.00 $70.14 $13,397.35
15 $13,397.35 $922.28 $0.00 $75.75 $14,395.38
16 $14,395.38 $922.28 $0.00 $81.39 $15,399.05
17 $15,399.05 $922.28 $0.00 $87.07 $16,408.40
18 $16,408.40 $922.28 $0.00 $92.78 $17,423.46
19 $17,423.46 $922.28 $0.00 $98.51 $18,444.25
20 $18,444.25 $922.28 $0.00 $104.29 $19,470.82
21 $19,470.82 $922.28 $0.00 $110.09 $20,503.19
22 $20,503.19 $922.28 $0.00 $115.93 $21,541.40
23 $21,541.40 $922.28 $0.00 $121.80 $22,585.48
24 $22,585.48 $922.28 $0.00 $127.70 $23,635.46
25 $23,635.46 $922.28 $0.00 $133.64 $24,691.38
26 $24,691.38 $922.28 $0.00 $139.61 $25,753.27
27 $25,753.27 $922.28 $0.00 $145.61 $26,821.16
28 $26,821.16 $922.28 $0.00 $151.65 $27,895.09
29 $27,895.09 $922.28 $0.00 $157.72 $28,975.09
30 $28,975.09 $922.28 $0.00 $163.83 $30,061.20
31 $30,061.20 $922.28 $0.00 $169.97 $31,153.45
32 $31,153.45 $922.28 $0.00 $176.15 $32,251.88
33 $32,251.88 $922.28 $0.00 $182.36 $33,356.52
34 $33,356.52 $922.28 $0.00 $188.60 $34,467.40
35 $34,467.40 $922.28 $0.00 $194.88 $35,584.56
36 $35,584.56 $922.28 $0.00 $201.20 $36,708.04
37 $36,708.04 $922.28 $0.00 $207.55 $37,837.87
38 $37,837.87 $922.28 $0.00 $213.94 $38,974.09
39 $38,974.09 $922.28 $0.00 $220.37 $40,116.74
40 $40,116.74 $922.28 $0.00 $226.83 $41,265.85
41 $41,265.85 $922.28 $0.00 $233.32 $42,421.45
42 $42,421.45 $922.28 $0.00 $239.86 $43,583.59
43 $43,583.59 $922.28 $0.00 $246.43 $44,752.30
44 $44,752.30 $922.28 $0.00 $253.04 $45,927.62
45 $45,927.62 $922.28 $0.00 $259.68 $47,109.58
46 $47,109.58 $922.28 $0.00 $266.36 $48,298.22
47 $48,298.22 $922.28 $0.00 $273.09 $49,493.59
48 $49,493.59 $922.28 $0.00 $279.84 $50,695.71
49 $50,695.71 $922.28 $0.00 $286.64 $51,904.63
50 $51,904.63 $922.28 $0.00 $293.48 $53,120.39
51 $53,120.39 $922.28 $0.00 $300.35 $54,343.02
52 $54,343.02 $922.28 $0.00 $307.26 $55,572.56
53 $55,572.56 $922.28 $0.00 $314.22 $56,809.06
54 $56,809.06 $922.28 $0.00 $321.21 $58,052.55
55 $58,052.55 $922.28 $0.00 $328.24 $59,303.07
56 $59,303.07 $922.28 $0.00 $335.31 $60,560.66
57 $60,560.66 $922.28 $0.00 $342.42 $61,825.36
58 $61,825.36 $922.28 $0.00 $349.57 $63,097.21
59 $63,097.21 $922.28 $0.00 $356.76 $64,376.25
60 $64,376.25 $922.28 $0.00 $363.99 $65,662.52
61 $65,662.52 $922.28 $0.00 $371.27 $66,956.07
62 $66,956.07 $922.28 $0.00 $378.58 $68,256.93
63 $68,256.93 $922.28 $0.00 $385.93 $69,565.14
64 $69,565.14 $922.28 $0.00 $393.33 $70,880.75
65 $70,880.75 $922.28 $0.00 $400.77 $72,203.80
66 $72,203.80 $922.28 $0.00 $408.25 $73,534.33
67 $73,534.33 $922.28 $0.00 $415.77 $74,872.38
68 $74,872.38 $922.28 $0.00 $423.34 $76,218.00
69 $76,218.00 $922.28 $0.00 $430.95 $77,571.23
70 $77,571.23 $922.28 $0.00 $438.60 $78,932.11
71 $78,932.11 $922.28 $0.00 $446.29 $80,300.68
72 $80,300.68 $922.28 $0.00 $454.03 $81,676.99
73 $81,676.99 $922.28 $0.00 $461.81 $83,061.08
74 $83,061.08 $922.28 $0.00 $469.64 $84,453.00
75 $84,453.00 $922.28 $0.00 $477.51 $85,852.79
76 $85,852.79 $922.28 $0.00 $485.42 $87,260.49
77 $87,260.49 $922.28 $0.00 $493.38 $88,676.15
78 $88,676.15 $922.28 $0.00 $501.39 $90,099.82
79 $90,099.82 $922.28 $0.00 $509.44 $91,531.54
80 $91,531.54 $922.28 $0.00 $517.53 $92,971.35
81 $92,971.35 $922.28 $0.00 $525.67 $94,419.30
82 $94,419.30 $922.28 $0.00 $533.86 $95,875.44
83 $95,875.44 $922.28 $0.00 $542.09 $97,339.81
84 $97,339.81 $922.28 $0.00 $550.37 $98,812.46
85 $98,812.46 $922.28 $0.00 $558.70 $100,293.44
86 $100,293.44 $922.28 $0.00 $567.07 $101,782.79
87 $101,782.79 $922.28 $0.00 $575.49 $103,280.56
88 $103,280.56 $922.28 $0.00 $583.96 $104,786.80
89 $104,786.80 $922.28 $0.00 $592.48 $106,301.56
90 $106,301.56 $922.28 $0.00 $601.04 $107,824.88
91 $107,824.88 $922.28 $0.00 $609.66 $109,356.82
92 $109,356.82 $922.28 $0.00 $618.32 $110,897.42
93 $110,897.42 $922.28 $0.00 $627.03 $112,446.73
94 $112,446.73 $922.28 $0.00 $635.79 $114,004.80
95 $114,004.80 $922.28 $0.00 $644.60 $115,571.68
96 $115,571.68 $922.28 $0.00 $653.46 $117,147.42
97 $117,147.42 $922.28 $0.00 $662.37 $118,732.07
98 $118,732.07 $922.28 $0.00 $671.33 $120,325.68
99 $120,325.68 $922.28 $0.00 $680.34 $121,928.30
100 $121,928.30 $922.28 $0.00 $689.40 $123,539.98
101 $123,539.98 $922.28 $0.00 $698.51 $125,160.77
102 $125,160.77 $922.28 $0.00 $707.68 $126,790.73
103 $126,790.73 $922.28 $0.00 $716.89 $128,429.90
104 $128,429.90 $922.28 $0.00 $726.16 $130,078.34
105 $130,078.34 $922.28 $0.00 $735.48 $131,736.10
106 $131,736.10 $922.28 $0.00 $744.86 $133,403.24
107 $133,403.24 $922.28 $0.00 $754.28 $135,079.80
108 $135,079.80 $922.28 $0.00 $763.76 $136,765.84
109 $136,765.84 $922.28 $0.00 $773.29 $138,461.41
110 $138,461.41 $922.28 $0.00 $782.88 $140,166.57
111 $140,166.57 $922.28 $0.00 $792.52 $141,881.37
112 $141,881.37 $922.28 $0.00 $802.22 $143,605.87
113 $143,605.87 $922.28 $0.00 $811.97 $145,340.12
114 $145,340.12 $922.28 $0.00 $821.77 $147,084.17
115 $147,084.17 $922.28 $0.00 $831.64 $148,838.09
116 $148,838.09 $922.28 $0.00 $841.55 $150,601.92
117 $150,601.92 $922.28 $0.00 $851.53 $152,375.73
118 $152,375.73 $922.28 $0.00 $861.55 $154,159.56
119 $154,159.56 $922.28 $0.00 $871.64 $155,953.48
120 $155,953.48 $922.28 $0.00 $881.78 $157,757.54
121 $157,757.54 $922.28 $0.00 $891.98 $159,571.80
122 $159,571.80 $922.28 $0.00 $902.24 $161,396.32
123 $161,396.32 $922.28 $0.00 $912.56 $163,231.16
124 $163,231.16 $922.28 $0.00 $922.93 $165,076.37
125 $165,076.37 $922.28 $0.00 $933.37 $166,932.02
126 $166,932.02 $922.28 $0.00 $943.86 $168,798.16
127 $168,798.16 $922.28 $0.00 $954.41 $170,674.85
128 $170,674.85 $922.28 $0.00 $965.02 $172,562.15
129 $172,562.15 $922.28 $0.00 $975.69 $174,460.12
130 $174,460.12 $922.28 $0.00 $986.42 $176,368.82
131 $176,368.82 $922.28 $0.00 $997.21 $178,288.31
132 $178,288.31 $922.28 $0.00 $1,008.07 $180,218.66
133 $180,218.66 $922.28 $0.00 $1,018.98 $182,159.92
134 $182,159.92 $922.28 $0.00 $1,029.96 $184,112.16
135 $184,112.16 $922.28 $0.00 $1,041.00 $186,075.44
136 $186,075.44 $922.28 $0.00 $1,052.10 $188,049.82
137 $188,049.82 $922.28 $0.00 $1,063.26 $190,035.36
138 $190,035.36 $922.28 $0.00 $1,074.49 $192,032.13
139 $192,032.13 $922.28 $0.00 $1,085.78 $194,040.19
140 $194,040.19 $922.28 $0.00 $1,097.13 $196,059.60
141 $196,059.60 $922.28 $0.00 $1,108.55 $198,090.43
142 $198,090.43 $922.28 $0.00 $1,120.03 $200,132.74
143 $200,132.74 $922.28 $0.00 $1,131.58 $202,186.60
144 $202,186.60 $922.28 $0.00 $1,143.19 $204,252.07
145 $204,252.07 $922.28 $0.00 $1,154.87 $206,329.22
146 $206,329.22 $922.28 $0.00 $1,166.62 $208,418.12
147 $208,418.12 $922.28 $0.00 $1,178.43 $210,518.83
148 $210,518.83 $922.28 $0.00 $1,190.30 $212,631.41
149 $212,631.41 $922.28 $0.00 $1,202.25 $214,755.94
150 $214,755.94 $922.28 $0.00 $1,214.26 $216,892.48
151 $216,892.48 $922.28 $0.00 $1,226.34 $219,041.10
152 $219,041.10 $922.28 $0.00 $1,238.49 $221,201.87
153 $221,201.87 $922.28 $0.00 $1,250.71 $223,374.86
154 $223,374.86 $922.28 $0.00 $1,262.99 $225,560.13
155 $225,560.13 $922.28 $0.00 $1,275.35 $227,757.76
156 $227,757.76 $922.28 $0.00 $1,287.78 $229,967.82
157 $229,967.82 $922.28 $0.00 $1,300.27 $232,190.37
158 $232,190.37 $922.28 $0.00 $1,312.84 $234,425.49
159 $234,425.49 $922.28 $0.00 $1,325.48 $236,673.25
160 $236,673.25 $922.28 $0.00 $1,338.18 $238,933.71
161 $238,933.71 $922.28 $0.00 $1,350.97 $241,206.96
162 $241,206.96 $922.28 $0.00 $1,363.82 $243,493.06
163 $243,493.06 $922.28 $0.00 $1,376.75 $245,792.09
164 $245,792.09 $922.28 $0.00 $1,389.74 $248,104.11
165 $248,104.11 $922.28 $0.00 $1,402.82 $250,429.21
166 $250,429.21 $922.28 $0.00 $1,415.96 $252,767.45
167 $252,767.45 $922.28 $0.00 $1,429.18 $255,118.91
168 $255,118.91 $922.28 $0.00 $1,442.48 $257,483.67
169 $257,483.67 $922.28 $0.00 $1,455.85 $259,861.80
170 $259,861.80 $922.28 $0.00 $1,469.30 $262,253.38
171 $262,253.38 $922.28 $0.00 $1,482.82 $264,658.48
172 $264,658.48 $922.28 $0.00 $1,496.42 $267,077.18
173 $267,077.18 $922.28 $0.00 $1,510.09 $269,509.55
174 $269,509.55 $922.28 $0.00 $1,523.85 $271,955.68
175 $271,955.68 $922.28 $0.00 $1,537.68 $274,415.64
176 $274,415.64 $922.28 $0.00 $1,551.59 $276,889.51
177 $276,889.51 $922.28 $0.00 $1,565.57 $279,377.36
178 $279,377.36 $922.28 $0.00 $1,579.64 $281,879.28
179 $281,879.28 $922.28 $0.00 $1,593.79 $284,395.35
180 $284,395.35 $922.28 $0.00 $1,608.01 $286,925.64
181 $286,925.64 $922.28 $0.00 $1,622.32 $289,470.24
182 $289,470.24 $922.28 $0.00 $1,636.71 $292,029.23
183 $292,029.23 $922.28 $0.00 $1,651.18 $294,602.69
184 $294,602.69 $922.28 $0.00 $1,665.73 $297,190.70
185 $297,190.70 $922.28 $0.00 $1,680.36 $299,793.34
186 $299,793.34 $922.28 $0.00 $1,695.08 $302,410.70
187 $302,410.70 $922.28 $0.00 $1,709.87 $305,042.85
188 $305,042.85 $922.28 $0.00 $1,724.76 $307,689.89
189 $307,689.89 $922.28 $0.00 $1,739.72 $310,351.89
190 $310,351.89 $922.28 $0.00 $1,754.77 $313,028.94
191 $313,028.94 $922.28 $0.00 $1,769.91 $315,721.13
192 $315,721.13 $922.28 $0.00 $1,785.13 $318,428.54
193 $318,428.54 $922.28 $0.00 $1,800.44 $321,151.26
194 $321,151.26 $922.28 $0.00 $1,815.84 $323,889.38
195 $323,889.38 $922.28 $0.00 $1,831.32 $326,642.98
196 $326,642.98 $922.28 $0.00 $1,846.89 $329,412.15
197 $329,412.15 $922.28 $0.00 $1,862.54 $332,196.97
198 $332,196.97 $922.28 $0.00 $1,878.29 $334,997.54
199 $334,997.54 $922.28 $0.00 $1,894.12 $337,813.94
200 $337,813.94 $922.28 $0.00 $1,910.05 $340,646.27
201 $340,646.27 $922.28 $0.00 $1,926.06 $343,494.61
202 $343,494.61 $922.28 $0.00 $1,942.17 $346,359.06
203 $346,359.06 $922.28 $0.00 $1,958.36 $349,239.70
204 $349,239.70 $922.28 $0.00 $1,974.65 $352,136.63
205 $352,136.63 $922.28 $0.00 $1,991.03 $355,049.94
206 $355,049.94 $922.28 $0.00 $2,007.50 $357,979.72
207 $357,979.72 $922.28 $0.00 $2,024.07 $360,926.07
208 $360,926.07 $922.28 $0.00 $2,040.73 $363,889.08
209 $363,889.08 $922.28 $0.00 $2,057.48 $366,868.84
210 $366,868.84 $922.28 $0.00 $2,074.33 $369,865.45
211 $369,865.45 $922.28 $0.00 $2,091.27 $372,879.00
212 $372,879.00 $922.28 $0.00 $2,108.31 $375,909.59
213 $375,909.59 $922.28 $0.00 $2,125.45 $378,957.32
214 $378,957.32 $922.28 $0.00 $2,142.68 $382,022.28
215 $382,022.28 $922.28 $0.00 $2,160.01 $385,104.57
216 $385,104.57 $922.28 $0.00 $2,177.44 $388,204.29
217 $388,204.29 $922.28 $105,132.79 $2,194.96 $286,188.74
218 $286,188.74 $922.28 $0.00 $1,618.15 $288,729.17
219 $288,729.17 $922.28 $0.00 $1,632.52 $291,283.97
220 $291,283.97 $922.28 $0.00 $1,646.96 $293,853.21
221 $293,853.21 $922.28 $0.00 $1,661.49 $296,436.98
222 $296,436.98 $922.28 $0.00 $1,676.10 $299,035.36
223 $299,035.36 $922.28 $0.00 $1,690.79 $301,648.43
224 $301,648.43 $922.28 $0.00 $1,705.56 $304,276.27
225 $304,276.27 $922.28 $0.00 $1,720.42 $306,918.97
226 $306,918.97 $922.28 $0.00 $1,735.36 $309,576.61
227 $309,576.61 $922.28 $0.00 $1,750.39 $312,249.28
228 $312,249.28 $922.28 $0.00 $1,765.50 $314,937.06
229 $314,937.06 $922.28 $112,492.09 $1,780.70 $205,147.95
230 $205,147.95 $922.28 $0.00 $1,159.94 $207,230.17
231 $207,230.17 $922.28 $0.00 $1,171.71 $209,324.16
232 $209,324.16 $922.28 $0.00 $1,183.55 $211,429.99
233 $211,429.99 $922.28 $0.00 $1,195.46 $213,547.73
234 $213,547.73 $922.28 $0.00 $1,207.43 $215,677.44
235 $215,677.44 $922.28 $0.00 $1,219.47 $217,819.19
236 $217,819.19 $922.28 $0.00 $1,231.58 $219,973.05
237 $219,973.05 $922.28 $0.00 $1,243.76 $222,139.09
238 $222,139.09 $922.28 $0.00 $1,256.01 $224,317.38
239 $224,317.38 $922.28 $0.00 $1,268.32 $226,507.98
240 $226,507.98 $922.28 $0.00 $1,280.71 $228,710.97
241 $228,710.97 $922.28 $120,366.54 $1,293.17 $110,559.88
242 $110,559.88 $922.28 $0.00 $625.12 $112,107.28
243 $112,107.28 $922.28 $0.00 $633.87 $113,663.43
244 $113,663.43 $922.28 $0.00 $642.67 $115,228.38
245 $115,228.38 $922.28 $0.00 $651.52 $116,802.18
246 $116,802.18 $922.28 $0.00 $660.42 $118,384.88
247 $118,384.88 $922.28 $0.00 $669.37 $119,976.53
248 $119,976.53 $922.28 $0.00 $678.36 $121,577.17
249 $121,577.17 $922.28 $0.00 $687.41 $123,186.86
250 $123,186.86 $922.28 $0.00 $696.52 $124,805.66
251 $124,805.66 $922.28 $0.00 $705.67 $126,433.61
252 $126,433.61 $922.28 $0.00 $714.87 $128,070.76
253 $128,070.76 $0.00 $128,792.19 $724.13 $2.70