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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$64,000
Monthly savings required$507

How much will it cost to send your child to Southwestern Christian University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $256,001.44 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $506.62 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$24,680.00
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 $506.62 $0.00 $0.00 $506.62
2 $506.62 $506.62 $0.00 $2.86 $1,016.10
3 $1,016.10 $506.62 $0.00 $5.75 $1,528.47
4 $1,528.47 $506.62 $0.00 $8.64 $2,043.73
5 $2,043.73 $506.62 $0.00 $11.56 $2,561.91
6 $2,561.91 $506.62 $0.00 $14.49 $3,083.02
7 $3,083.02 $506.62 $0.00 $17.43 $3,607.07
8 $3,607.07 $506.62 $0.00 $20.39 $4,134.08
9 $4,134.08 $506.62 $0.00 $23.37 $4,664.07
10 $4,664.07 $506.62 $0.00 $26.37 $5,197.06
11 $5,197.06 $506.62 $0.00 $29.38 $5,733.06
12 $5,733.06 $506.62 $0.00 $32.42 $6,272.10
13 $6,272.10 $506.62 $0.00 $35.46 $6,814.18
14 $6,814.18 $506.62 $0.00 $38.53 $7,359.33
15 $7,359.33 $506.62 $0.00 $41.61 $7,907.56
16 $7,907.56 $506.62 $0.00 $44.71 $8,458.89
17 $8,458.89 $506.62 $0.00 $47.83 $9,013.34
18 $9,013.34 $506.62 $0.00 $50.96 $9,570.92
19 $9,570.92 $506.62 $0.00 $54.12 $10,131.66
20 $10,131.66 $506.62 $0.00 $57.29 $10,695.57
21 $10,695.57 $506.62 $0.00 $60.47 $11,262.66
22 $11,262.66 $506.62 $0.00 $63.68 $11,832.96
23 $11,832.96 $506.62 $0.00 $66.91 $12,406.49
24 $12,406.49 $506.62 $0.00 $70.15 $12,983.26
25 $12,983.26 $506.62 $0.00 $73.41 $13,563.29
26 $13,563.29 $506.62 $0.00 $76.69 $14,146.60
27 $14,146.60 $506.62 $0.00 $79.99 $14,733.21
28 $14,733.21 $506.62 $0.00 $83.30 $15,323.13
29 $15,323.13 $506.62 $0.00 $86.64 $15,916.39
30 $15,916.39 $506.62 $0.00 $89.99 $16,513.00
31 $16,513.00 $506.62 $0.00 $93.37 $17,112.99
32 $17,112.99 $506.62 $0.00 $96.76 $17,716.37
33 $17,716.37 $506.62 $0.00 $100.17 $18,323.16
34 $18,323.16 $506.62 $0.00 $103.60 $18,933.38
35 $18,933.38 $506.62 $0.00 $107.05 $19,547.05
36 $19,547.05 $506.62 $0.00 $110.52 $20,164.19
37 $20,164.19 $506.62 $0.00 $114.01 $20,784.82
38 $20,784.82 $506.62 $0.00 $117.52 $21,408.96
39 $21,408.96 $506.62 $0.00 $121.05 $22,036.63
40 $22,036.63 $506.62 $0.00 $124.60 $22,667.85
41 $22,667.85 $506.62 $0.00 $128.17 $23,302.64
42 $23,302.64 $506.62 $0.00 $131.76 $23,941.02
43 $23,941.02 $506.62 $0.00 $135.37 $24,583.01
44 $24,583.01 $506.62 $0.00 $139.00 $25,228.63
45 $25,228.63 $506.62 $0.00 $142.65 $25,877.90
46 $25,877.90 $506.62 $0.00 $146.32 $26,530.84
47 $26,530.84 $506.62 $0.00 $150.01 $27,187.47
48 $27,187.47 $506.62 $0.00 $153.72 $27,847.81
49 $27,847.81 $506.62 $0.00 $157.46 $28,511.89
50 $28,511.89 $506.62 $0.00 $161.21 $29,179.72
51 $29,179.72 $506.62 $0.00 $164.99 $29,851.33
52 $29,851.33 $506.62 $0.00 $168.78 $30,526.73
53 $30,526.73 $506.62 $0.00 $172.60 $31,205.95
54 $31,205.95 $506.62 $0.00 $176.44 $31,889.01
55 $31,889.01 $506.62 $0.00 $180.31 $32,575.94
56 $32,575.94 $506.62 $0.00 $184.19 $33,266.75
57 $33,266.75 $506.62 $0.00 $188.10 $33,961.47
58 $33,961.47 $506.62 $0.00 $192.02 $34,660.11
59 $34,660.11 $506.62 $0.00 $195.97 $35,362.70
60 $35,362.70 $506.62 $0.00 $199.95 $36,069.27
61 $36,069.27 $506.62 $0.00 $203.94 $36,779.83
62 $36,779.83 $506.62 $0.00 $207.96 $37,494.41
63 $37,494.41 $506.62 $0.00 $212.00 $38,213.03
64 $38,213.03 $506.62 $0.00 $216.06 $38,935.71
65 $38,935.71 $506.62 $0.00 $220.15 $39,662.48
66 $39,662.48 $506.62 $0.00 $224.26 $40,393.36
67 $40,393.36 $506.62 $0.00 $228.39 $41,128.37
68 $41,128.37 $506.62 $0.00 $232.55 $41,867.54
69 $41,867.54 $506.62 $0.00 $236.73 $42,610.89
70 $42,610.89 $506.62 $0.00 $240.93 $43,358.44
71 $43,358.44 $506.62 $0.00 $245.15 $44,110.21
72 $44,110.21 $506.62 $0.00 $249.41 $44,866.24
73 $44,866.24 $506.62 $0.00 $253.68 $45,626.54
74 $45,626.54 $506.62 $0.00 $257.98 $46,391.14
75 $46,391.14 $506.62 $0.00 $262.30 $47,160.06
76 $47,160.06 $506.62 $0.00 $266.65 $47,933.33
77 $47,933.33 $506.62 $0.00 $271.02 $48,710.97
78 $48,710.97 $506.62 $0.00 $275.42 $49,493.01
79 $49,493.01 $506.62 $0.00 $279.84 $50,279.47
80 $50,279.47 $506.62 $0.00 $284.29 $51,070.38
81 $51,070.38 $506.62 $0.00 $288.76 $51,865.76
82 $51,865.76 $506.62 $0.00 $293.26 $52,665.64
83 $52,665.64 $506.62 $0.00 $297.78 $53,470.04
84 $53,470.04 $506.62 $0.00 $302.33 $54,278.99
85 $54,278.99 $506.62 $0.00 $306.90 $55,092.51
86 $55,092.51 $506.62 $0.00 $311.50 $55,910.63
87 $55,910.63 $506.62 $0.00 $316.13 $56,733.38
88 $56,733.38 $506.62 $0.00 $320.78 $57,560.78
89 $57,560.78 $506.62 $0.00 $325.46 $58,392.86
90 $58,392.86 $506.62 $0.00 $330.16 $59,229.64
91 $59,229.64 $506.62 $0.00 $334.89 $60,071.15
92 $60,071.15 $506.62 $0.00 $339.65 $60,917.42
93 $60,917.42 $506.62 $0.00 $344.44 $61,768.48
94 $61,768.48 $506.62 $0.00 $349.25 $62,624.35
95 $62,624.35 $506.62 $0.00 $354.09 $63,485.06
96 $63,485.06 $506.62 $0.00 $358.95 $64,350.63
97 $64,350.63 $506.62 $0.00 $363.85 $65,221.10
98 $65,221.10 $506.62 $0.00 $368.77 $66,096.49
99 $66,096.49 $506.62 $0.00 $373.72 $66,976.83
100 $66,976.83 $506.62 $0.00 $378.70 $67,862.15
101 $67,862.15 $506.62 $0.00 $383.70 $68,752.47
102 $68,752.47 $506.62 $0.00 $388.74 $69,647.83
103 $69,647.83 $506.62 $0.00 $393.80 $70,548.25
104 $70,548.25 $506.62 $0.00 $398.89 $71,453.76
105 $71,453.76 $506.62 $0.00 $404.01 $72,364.39
106 $72,364.39 $506.62 $0.00 $409.16 $73,280.17
107 $73,280.17 $506.62 $0.00 $414.34 $74,201.13
108 $74,201.13 $506.62 $0.00 $419.54 $75,127.29
109 $75,127.29 $506.62 $0.00 $424.78 $76,058.69
110 $76,058.69 $506.62 $0.00 $430.05 $76,995.36
111 $76,995.36 $506.62 $0.00 $435.34 $77,937.32
112 $77,937.32 $506.62 $0.00 $440.67 $78,884.61
113 $78,884.61 $506.62 $0.00 $446.03 $79,837.26
114 $79,837.26 $506.62 $0.00 $451.41 $80,795.29
115 $80,795.29 $506.62 $0.00 $456.83 $81,758.74
116 $81,758.74 $506.62 $0.00 $462.28 $82,727.64
117 $82,727.64 $506.62 $0.00 $467.75 $83,702.01
118 $83,702.01 $506.62 $0.00 $473.26 $84,681.89
119 $84,681.89 $506.62 $0.00 $478.80 $85,667.31
120 $85,667.31 $506.62 $0.00 $484.38 $86,658.31
121 $86,658.31 $506.62 $0.00 $489.98 $87,654.91
122 $87,654.91 $506.62 $0.00 $495.61 $88,657.14
123 $88,657.14 $506.62 $0.00 $501.28 $89,665.04
124 $89,665.04 $506.62 $0.00 $506.98 $90,678.64
125 $90,678.64 $506.62 $0.00 $512.71 $91,697.97
126 $91,697.97 $506.62 $0.00 $518.47 $92,723.06
127 $92,723.06 $506.62 $0.00 $524.27 $93,753.95
128 $93,753.95 $506.62 $0.00 $530.10 $94,790.67
129 $94,790.67 $506.62 $0.00 $535.96 $95,833.25
130 $95,833.25 $506.62 $0.00 $541.86 $96,881.73
131 $96,881.73 $506.62 $0.00 $547.78 $97,936.13
132 $97,936.13 $506.62 $0.00 $553.75 $98,996.50
133 $98,996.50 $506.62 $0.00 $559.74 $100,062.86
134 $100,062.86 $506.62 $0.00 $565.77 $101,135.25
135 $101,135.25 $506.62 $0.00 $571.83 $102,213.70
136 $102,213.70 $506.62 $0.00 $577.93 $103,298.25
137 $103,298.25 $506.62 $0.00 $584.06 $104,388.93
138 $104,388.93 $506.62 $0.00 $590.23 $105,485.78
139 $105,485.78 $506.62 $0.00 $596.43 $106,588.83
140 $106,588.83 $506.62 $0.00 $602.67 $107,698.12
141 $107,698.12 $506.62 $0.00 $608.94 $108,813.68
142 $108,813.68 $506.62 $0.00 $615.25 $109,935.55
143 $109,935.55 $506.62 $0.00 $621.59 $111,063.76
144 $111,063.76 $506.62 $0.00 $627.97 $112,198.35
145 $112,198.35 $506.62 $0.00 $634.39 $113,339.36
146 $113,339.36 $506.62 $0.00 $640.84 $114,486.82
147 $114,486.82 $506.62 $0.00 $647.33 $115,640.77
148 $115,640.77 $506.62 $0.00 $653.85 $116,801.24
149 $116,801.24 $506.62 $0.00 $660.41 $117,968.27
150 $117,968.27 $506.62 $0.00 $667.01 $119,141.90
151 $119,141.90 $506.62 $0.00 $673.65 $120,322.17
152 $120,322.17 $506.62 $0.00 $680.32 $121,509.11
153 $121,509.11 $506.62 $0.00 $687.03 $122,702.76
154 $122,702.76 $506.62 $0.00 $693.78 $123,903.16
155 $123,903.16 $506.62 $0.00 $700.57 $125,110.35
156 $125,110.35 $506.62 $0.00 $707.39 $126,324.36
157 $126,324.36 $506.62 $0.00 $714.26 $127,545.24
158 $127,545.24 $506.62 $0.00 $721.16 $128,773.02
159 $128,773.02 $506.62 $0.00 $728.10 $130,007.74
160 $130,007.74 $506.62 $0.00 $735.08 $131,249.44
161 $131,249.44 $506.62 $0.00 $742.10 $132,498.16
162 $132,498.16 $506.62 $0.00 $749.16 $133,753.94
163 $133,753.94 $506.62 $0.00 $756.26 $135,016.82
164 $135,016.82 $506.62 $0.00 $763.40 $136,286.84
165 $136,286.84 $506.62 $0.00 $770.59 $137,564.05
166 $137,564.05 $506.62 $0.00 $777.81 $138,848.48
167 $138,848.48 $506.62 $0.00 $785.07 $140,140.17
168 $140,140.17 $506.62 $0.00 $792.37 $141,439.16
169 $141,439.16 $506.62 $0.00 $799.72 $142,745.50
170 $142,745.50 $506.62 $0.00 $807.10 $144,059.22
171 $144,059.22 $506.62 $0.00 $814.53 $145,380.37
172 $145,380.37 $506.62 $0.00 $822.00 $146,708.99
173 $146,708.99 $506.62 $0.00 $829.51 $148,045.12
174 $148,045.12 $506.62 $0.00 $837.07 $149,388.81
175 $149,388.81 $506.62 $0.00 $844.67 $150,740.10
176 $150,740.10 $506.62 $0.00 $852.31 $152,099.03
177 $152,099.03 $506.62 $0.00 $859.99 $153,465.64
178 $153,465.64 $506.62 $0.00 $867.72 $154,839.98
179 $154,839.98 $506.62 $0.00 $875.49 $156,222.09
180 $156,222.09 $506.62 $0.00 $883.30 $157,612.01
181 $157,612.01 $506.62 $0.00 $891.16 $159,009.79
182 $159,009.79 $506.62 $0.00 $899.06 $160,415.47
183 $160,415.47 $506.62 $0.00 $907.01 $161,829.10
184 $161,829.10 $506.62 $0.00 $915.01 $163,250.73
185 $163,250.73 $506.62 $0.00 $923.04 $164,680.39
186 $164,680.39 $506.62 $0.00 $931.13 $166,118.14
187 $166,118.14 $506.62 $0.00 $939.26 $167,564.02
188 $167,564.02 $506.62 $0.00 $947.43 $169,018.07
189 $169,018.07 $506.62 $0.00 $955.65 $170,480.34
190 $170,480.34 $506.62 $0.00 $963.92 $171,950.88
191 $171,950.88 $506.62 $0.00 $972.24 $173,429.74
192 $173,429.74 $506.62 $0.00 $980.60 $174,916.96
193 $174,916.96 $506.62 $0.00 $989.01 $176,412.59
194 $176,412.59 $506.62 $0.00 $997.46 $177,916.67
195 $177,916.67 $506.62 $0.00 $1,005.97 $179,429.26
196 $179,429.26 $506.62 $0.00 $1,014.52 $180,950.40
197 $180,950.40 $506.62 $0.00 $1,023.12 $182,480.14
198 $182,480.14 $506.62 $0.00 $1,031.77 $184,018.53
199 $184,018.53 $506.62 $0.00 $1,040.47 $185,565.62
200 $185,565.62 $506.62 $0.00 $1,049.21 $187,121.45
201 $187,121.45 $506.62 $0.00 $1,058.01 $188,686.08
202 $188,686.08 $506.62 $0.00 $1,066.86 $190,259.56
203 $190,259.56 $506.62 $0.00 $1,075.76 $191,841.94
204 $191,841.94 $506.62 $0.00 $1,084.70 $193,433.26
205 $193,433.26 $506.62 $0.00 $1,093.70 $195,033.58
206 $195,033.58 $506.62 $0.00 $1,102.75 $196,642.95
207 $196,642.95 $506.62 $0.00 $1,111.85 $198,261.42
208 $198,261.42 $506.62 $0.00 $1,121.00 $199,889.04
209 $199,889.04 $506.62 $0.00 $1,130.20 $201,525.86
210 $201,525.86 $506.62 $0.00 $1,139.46 $203,171.94
211 $203,171.94 $506.62 $0.00 $1,148.76 $204,827.32
212 $204,827.32 $506.62 $0.00 $1,158.12 $206,492.06
213 $206,492.06 $506.62 $0.00 $1,167.54 $208,166.22
214 $208,166.22 $506.62 $0.00 $1,177.00 $209,849.84
215 $209,849.84 $506.62 $0.00 $1,186.52 $211,542.98
216 $211,542.98 $506.62 $0.00 $1,196.09 $213,245.69
217 $213,245.69 $506.62 $59,395.36 $1,205.72 $155,562.67
218 $155,562.67 $506.62 $0.00 $879.57 $156,948.86
219 $156,948.86 $506.62 $0.00 $887.41 $158,342.89
220 $158,342.89 $506.62 $0.00 $895.29 $159,744.80
221 $159,744.80 $506.62 $0.00 $903.22 $161,154.64
222 $161,154.64 $506.62 $0.00 $911.19 $162,572.45
223 $162,572.45 $506.62 $0.00 $919.21 $163,998.28
224 $163,998.28 $506.62 $0.00 $927.27 $165,432.17
225 $165,432.17 $506.62 $0.00 $935.38 $166,874.17
226 $166,874.17 $506.62 $0.00 $943.53 $168,324.32
227 $168,324.32 $506.62 $0.00 $951.73 $169,782.67
228 $169,782.67 $506.62 $0.00 $959.98 $171,249.27
229 $171,249.27 $506.62 $62,365.13 $968.27 $110,359.03
230 $110,359.03 $506.62 $0.00 $623.99 $111,489.64
231 $111,489.64 $506.62 $0.00 $630.38 $112,626.64
232 $112,626.64 $506.62 $0.00 $636.81 $113,770.07
233 $113,770.07 $506.62 $0.00 $643.27 $114,919.96
234 $114,919.96 $506.62 $0.00 $649.77 $116,076.35
235 $116,076.35 $506.62 $0.00 $656.31 $117,239.28
236 $117,239.28 $506.62 $0.00 $662.89 $118,408.79
237 $118,408.79 $506.62 $0.00 $669.50 $119,584.91
238 $119,584.91 $506.62 $0.00 $676.15 $120,767.68
239 $120,767.68 $506.62 $0.00 $682.84 $121,957.14
240 $121,957.14 $506.62 $0.00 $689.56 $123,153.32
241 $123,153.32 $506.62 $65,483.39 $696.33 $58,872.88
242 $58,872.88 $506.62 $0.00 $332.88 $59,712.38
243 $59,712.38 $506.62 $0.00 $337.62 $60,556.62
244 $60,556.62 $506.62 $0.00 $342.40 $61,405.64
245 $61,405.64 $506.62 $0.00 $347.20 $62,259.46
246 $62,259.46 $506.62 $0.00 $352.02 $63,118.10
247 $63,118.10 $506.62 $0.00 $356.88 $63,981.60
248 $63,981.60 $506.62 $0.00 $361.76 $64,849.98
249 $64,849.98 $506.62 $0.00 $366.67 $65,723.27
250 $65,723.27 $506.62 $0.00 $371.61 $66,601.50
251 $66,601.50 $506.62 $0.00 $376.57 $67,484.69
252 $67,484.69 $506.62 $0.00 $381.57 $68,372.88
253 $68,372.88 $0.00 $68,757.56 $386.59 $1.91