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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$125,122
Monthly savings required$990

How much will it cost to send your child to Eastern University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $500,489.03 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $990.44 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$48,250.00
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 $990.44 $0.00 $0.00 $990.44
2 $990.44 $990.44 $0.00 $5.60 $1,986.48
3 $1,986.48 $990.44 $0.00 $11.23 $2,988.15
4 $2,988.15 $990.44 $0.00 $16.90 $3,995.49
5 $3,995.49 $990.44 $0.00 $22.59 $5,008.52
6 $5,008.52 $990.44 $0.00 $28.32 $6,027.28
7 $6,027.28 $990.44 $0.00 $34.08 $7,051.80
8 $7,051.80 $990.44 $0.00 $39.87 $8,082.11
9 $8,082.11 $990.44 $0.00 $45.70 $9,118.25
10 $9,118.25 $990.44 $0.00 $51.56 $10,160.25
11 $10,160.25 $990.44 $0.00 $57.45 $11,208.14
12 $11,208.14 $990.44 $0.00 $63.37 $12,261.95
13 $12,261.95 $990.44 $0.00 $69.33 $13,321.72
14 $13,321.72 $990.44 $0.00 $75.32 $14,387.48
15 $14,387.48 $990.44 $0.00 $81.35 $15,459.27
16 $15,459.27 $990.44 $0.00 $87.41 $16,537.12
17 $16,537.12 $990.44 $0.00 $93.50 $17,621.06
18 $17,621.06 $990.44 $0.00 $99.63 $18,711.13
19 $18,711.13 $990.44 $0.00 $105.80 $19,807.37
20 $19,807.37 $990.44 $0.00 $111.99 $20,909.80
21 $20,909.80 $990.44 $0.00 $118.23 $22,018.47
22 $22,018.47 $990.44 $0.00 $124.50 $23,133.41
23 $23,133.41 $990.44 $0.00 $130.80 $24,254.65
24 $24,254.65 $990.44 $0.00 $137.14 $25,382.23
25 $25,382.23 $990.44 $0.00 $143.51 $26,516.18
26 $26,516.18 $990.44 $0.00 $149.93 $27,656.55
27 $27,656.55 $990.44 $0.00 $156.37 $28,803.36
28 $28,803.36 $990.44 $0.00 $162.86 $29,956.66
29 $29,956.66 $990.44 $0.00 $169.38 $31,116.48
30 $31,116.48 $990.44 $0.00 $175.94 $32,282.86
31 $32,282.86 $990.44 $0.00 $182.53 $33,455.83
32 $33,455.83 $990.44 $0.00 $189.16 $34,635.43
33 $34,635.43 $990.44 $0.00 $195.83 $35,821.70
34 $35,821.70 $990.44 $0.00 $202.54 $37,014.68
35 $37,014.68 $990.44 $0.00 $209.29 $38,214.41
36 $38,214.41 $990.44 $0.00 $216.07 $39,420.92
37 $39,420.92 $990.44 $0.00 $222.89 $40,634.25
38 $40,634.25 $990.44 $0.00 $229.75 $41,854.44
39 $41,854.44 $990.44 $0.00 $236.65 $43,081.53
40 $43,081.53 $990.44 $0.00 $243.59 $44,315.56
41 $44,315.56 $990.44 $0.00 $250.57 $45,556.57
42 $45,556.57 $990.44 $0.00 $257.58 $46,804.59
43 $46,804.59 $990.44 $0.00 $264.64 $48,059.67
44 $48,059.67 $990.44 $0.00 $271.74 $49,321.85
45 $49,321.85 $990.44 $0.00 $278.87 $50,591.16
46 $50,591.16 $990.44 $0.00 $286.05 $51,867.65
47 $51,867.65 $990.44 $0.00 $293.27 $53,151.36
48 $53,151.36 $990.44 $0.00 $300.53 $54,442.33
49 $54,442.33 $990.44 $0.00 $307.82 $55,740.59
50 $55,740.59 $990.44 $0.00 $315.17 $57,046.20
51 $57,046.20 $990.44 $0.00 $322.55 $58,359.19
52 $58,359.19 $990.44 $0.00 $329.97 $59,679.60
53 $59,679.60 $990.44 $0.00 $337.44 $61,007.48
54 $61,007.48 $990.44 $0.00 $344.95 $62,342.87
55 $62,342.87 $990.44 $0.00 $352.50 $63,685.81
56 $63,685.81 $990.44 $0.00 $360.09 $65,036.34
57 $65,036.34 $990.44 $0.00 $367.72 $66,394.50
58 $66,394.50 $990.44 $0.00 $375.40 $67,760.34
59 $67,760.34 $990.44 $0.00 $383.13 $69,133.91
60 $69,133.91 $990.44 $0.00 $390.89 $70,515.24
61 $70,515.24 $990.44 $0.00 $398.70 $71,904.38
62 $71,904.38 $990.44 $0.00 $406.56 $73,301.38
63 $73,301.38 $990.44 $0.00 $414.46 $74,706.28
64 $74,706.28 $990.44 $0.00 $422.40 $76,119.12
65 $76,119.12 $990.44 $0.00 $430.39 $77,539.95
66 $77,539.95 $990.44 $0.00 $438.42 $78,968.81
67 $78,968.81 $990.44 $0.00 $446.50 $80,405.75
68 $80,405.75 $990.44 $0.00 $454.63 $81,850.82
69 $81,850.82 $990.44 $0.00 $462.80 $83,304.06
70 $83,304.06 $990.44 $0.00 $471.01 $84,765.51
71 $84,765.51 $990.44 $0.00 $479.28 $86,235.23
72 $86,235.23 $990.44 $0.00 $487.59 $87,713.26
73 $87,713.26 $990.44 $0.00 $495.94 $89,199.64
74 $89,199.64 $990.44 $0.00 $504.35 $90,694.43
75 $90,694.43 $990.44 $0.00 $512.80 $92,197.67
76 $92,197.67 $990.44 $0.00 $521.30 $93,709.41
77 $93,709.41 $990.44 $0.00 $529.85 $95,229.70
78 $95,229.70 $990.44 $0.00 $538.44 $96,758.58
79 $96,758.58 $990.44 $0.00 $547.09 $98,296.11
80 $98,296.11 $990.44 $0.00 $555.78 $99,842.33
81 $99,842.33 $990.44 $0.00 $564.52 $101,397.29
82 $101,397.29 $990.44 $0.00 $573.32 $102,961.05
83 $102,961.05 $990.44 $0.00 $582.16 $104,533.65
84 $104,533.65 $990.44 $0.00 $591.05 $106,115.14
85 $106,115.14 $990.44 $0.00 $599.99 $107,705.57
86 $107,705.57 $990.44 $0.00 $608.98 $109,304.99
87 $109,304.99 $990.44 $0.00 $618.03 $110,913.46
88 $110,913.46 $990.44 $0.00 $627.12 $112,531.02
89 $112,531.02 $990.44 $0.00 $636.27 $114,157.73
90 $114,157.73 $990.44 $0.00 $645.46 $115,793.63
91 $115,793.63 $990.44 $0.00 $654.71 $117,438.78
92 $117,438.78 $990.44 $0.00 $664.02 $119,093.24
93 $119,093.24 $990.44 $0.00 $673.37 $120,757.05
94 $120,757.05 $990.44 $0.00 $682.78 $122,430.27
95 $122,430.27 $990.44 $0.00 $692.24 $124,112.95
96 $124,112.95 $990.44 $0.00 $701.75 $125,805.14
97 $125,805.14 $990.44 $0.00 $711.32 $127,506.90
98 $127,506.90 $990.44 $0.00 $720.94 $129,218.28
99 $129,218.28 $990.44 $0.00 $730.62 $130,939.34
100 $130,939.34 $990.44 $0.00 $740.35 $132,670.13
101 $132,670.13 $990.44 $0.00 $750.14 $134,410.71
102 $134,410.71 $990.44 $0.00 $759.98 $136,161.13
103 $136,161.13 $990.44 $0.00 $769.87 $137,921.44
104 $137,921.44 $990.44 $0.00 $779.83 $139,691.71
105 $139,691.71 $990.44 $0.00 $789.84 $141,471.99
106 $141,471.99 $990.44 $0.00 $799.90 $143,262.33
107 $143,262.33 $990.44 $0.00 $810.03 $145,062.80
108 $145,062.80 $990.44 $0.00 $820.21 $146,873.45
109 $146,873.45 $990.44 $0.00 $830.44 $148,694.33
110 $148,694.33 $990.44 $0.00 $840.74 $150,525.51
111 $150,525.51 $990.44 $0.00 $851.09 $152,367.04
112 $152,367.04 $990.44 $0.00 $861.51 $154,218.99
113 $154,218.99 $990.44 $0.00 $871.98 $156,081.41
114 $156,081.41 $990.44 $0.00 $882.51 $157,954.36
115 $157,954.36 $990.44 $0.00 $893.10 $159,837.90
116 $159,837.90 $990.44 $0.00 $903.75 $161,732.09
117 $161,732.09 $990.44 $0.00 $914.46 $163,636.99
118 $163,636.99 $990.44 $0.00 $925.23 $165,552.66
119 $165,552.66 $990.44 $0.00 $936.06 $167,479.16
120 $167,479.16 $990.44 $0.00 $946.95 $169,416.55
121 $169,416.55 $990.44 $0.00 $957.91 $171,364.90
122 $171,364.90 $990.44 $0.00 $968.92 $173,324.26
123 $173,324.26 $990.44 $0.00 $980.00 $175,294.70
124 $175,294.70 $990.44 $0.00 $991.14 $177,276.28
125 $177,276.28 $990.44 $0.00 $1,002.35 $179,269.07
126 $179,269.07 $990.44 $0.00 $1,013.61 $181,273.12
127 $181,273.12 $990.44 $0.00 $1,024.94 $183,288.50
128 $183,288.50 $990.44 $0.00 $1,036.34 $185,315.28
129 $185,315.28 $990.44 $0.00 $1,047.80 $187,353.52
130 $187,353.52 $990.44 $0.00 $1,059.32 $189,403.28
131 $189,403.28 $990.44 $0.00 $1,070.91 $191,464.63
132 $191,464.63 $990.44 $0.00 $1,082.57 $193,537.64
133 $193,537.64 $990.44 $0.00 $1,094.29 $195,622.37
134 $195,622.37 $990.44 $0.00 $1,106.08 $197,718.89
135 $197,718.89 $990.44 $0.00 $1,117.93 $199,827.26
136 $199,827.26 $990.44 $0.00 $1,129.85 $201,947.55
137 $201,947.55 $990.44 $0.00 $1,141.84 $204,079.83
138 $204,079.83 $990.44 $0.00 $1,153.90 $206,224.17
139 $206,224.17 $990.44 $0.00 $1,166.02 $208,380.63
140 $208,380.63 $990.44 $0.00 $1,178.21 $210,549.28
141 $210,549.28 $990.44 $0.00 $1,190.48 $212,730.20
142 $212,730.20 $990.44 $0.00 $1,202.81 $214,923.45
143 $214,923.45 $990.44 $0.00 $1,215.21 $217,129.10
144 $217,129.10 $990.44 $0.00 $1,227.68 $219,347.22
145 $219,347.22 $990.44 $0.00 $1,240.22 $221,577.88
146 $221,577.88 $990.44 $0.00 $1,252.83 $223,821.15
147 $223,821.15 $990.44 $0.00 $1,265.52 $226,077.11
148 $226,077.11 $990.44 $0.00 $1,278.27 $228,345.82
149 $228,345.82 $990.44 $0.00 $1,291.10 $230,627.36
150 $230,627.36 $990.44 $0.00 $1,304.00 $232,921.80
151 $232,921.80 $990.44 $0.00 $1,316.97 $235,229.21
152 $235,229.21 $990.44 $0.00 $1,330.02 $237,549.67
153 $237,549.67 $990.44 $0.00 $1,343.14 $239,883.25
154 $239,883.25 $990.44 $0.00 $1,356.33 $242,230.02
155 $242,230.02 $990.44 $0.00 $1,369.60 $244,590.06
156 $244,590.06 $990.44 $0.00 $1,382.95 $246,963.45
157 $246,963.45 $990.44 $0.00 $1,396.37 $249,350.26
158 $249,350.26 $990.44 $0.00 $1,409.86 $251,750.56
159 $251,750.56 $990.44 $0.00 $1,423.43 $254,164.43
160 $254,164.43 $990.44 $0.00 $1,437.08 $256,591.95
161 $256,591.95 $990.44 $0.00 $1,450.81 $259,033.20
162 $259,033.20 $990.44 $0.00 $1,464.61 $261,488.25
163 $261,488.25 $990.44 $0.00 $1,478.49 $263,957.18
164 $263,957.18 $990.44 $0.00 $1,492.45 $266,440.07
165 $266,440.07 $990.44 $0.00 $1,506.49 $268,937.00
166 $268,937.00 $990.44 $0.00 $1,520.61 $271,448.05
167 $271,448.05 $990.44 $0.00 $1,534.81 $273,973.30
168 $273,973.30 $990.44 $0.00 $1,549.08 $276,512.82
169 $276,512.82 $990.44 $0.00 $1,563.44 $279,066.70
170 $279,066.70 $990.44 $0.00 $1,577.88 $281,635.02
171 $281,635.02 $990.44 $0.00 $1,592.41 $284,217.87
172 $284,217.87 $990.44 $0.00 $1,607.01 $286,815.32
173 $286,815.32 $990.44 $0.00 $1,621.70 $289,427.46
174 $289,427.46 $990.44 $0.00 $1,636.46 $292,054.36
175 $292,054.36 $990.44 $0.00 $1,651.32 $294,696.12
176 $294,696.12 $990.44 $0.00 $1,666.25 $297,352.81
177 $297,352.81 $990.44 $0.00 $1,681.28 $300,024.53
178 $300,024.53 $990.44 $0.00 $1,696.38 $302,711.35
179 $302,711.35 $990.44 $0.00 $1,711.57 $305,413.36
180 $305,413.36 $990.44 $0.00 $1,726.85 $308,130.65
181 $308,130.65 $990.44 $0.00 $1,742.22 $310,863.31
182 $310,863.31 $990.44 $0.00 $1,757.67 $313,611.42
183 $313,611.42 $990.44 $0.00 $1,773.20 $316,375.06
184 $316,375.06 $990.44 $0.00 $1,788.83 $319,154.33
185 $319,154.33 $990.44 $0.00 $1,804.54 $321,949.31
186 $321,949.31 $990.44 $0.00 $1,820.35 $324,760.10
187 $324,760.10 $990.44 $0.00 $1,836.24 $327,586.78
188 $327,586.78 $990.44 $0.00 $1,852.22 $330,429.44
189 $330,429.44 $990.44 $0.00 $1,868.30 $333,288.18
190 $333,288.18 $990.44 $0.00 $1,884.46 $336,163.08
191 $336,163.08 $990.44 $0.00 $1,900.71 $339,054.23
192 $339,054.23 $990.44 $0.00 $1,917.06 $341,961.73
193 $341,961.73 $990.44 $0.00 $1,933.50 $344,885.67
194 $344,885.67 $990.44 $0.00 $1,950.03 $347,826.14
195 $347,826.14 $990.44 $0.00 $1,966.66 $350,783.24
196 $350,783.24 $990.44 $0.00 $1,983.38 $353,757.06
197 $353,757.06 $990.44 $0.00 $2,000.19 $356,747.69
198 $356,747.69 $990.44 $0.00 $2,017.10 $359,755.23
199 $359,755.23 $990.44 $0.00 $2,034.11 $362,779.78
200 $362,779.78 $990.44 $0.00 $2,051.21 $365,821.43
201 $365,821.43 $990.44 $0.00 $2,068.41 $368,880.28
202 $368,880.28 $990.44 $0.00 $2,085.70 $371,956.42
203 $371,956.42 $990.44 $0.00 $2,103.10 $375,049.96
204 $375,049.96 $990.44 $0.00 $2,120.59 $378,160.99
205 $378,160.99 $990.44 $0.00 $2,138.18 $381,289.61
206 $381,289.61 $990.44 $0.00 $2,155.87 $384,435.92
207 $384,435.92 $990.44 $0.00 $2,173.66 $387,600.02
208 $387,600.02 $990.44 $0.00 $2,191.55 $390,782.01
209 $390,782.01 $990.44 $0.00 $2,209.54 $393,981.99
210 $393,981.99 $990.44 $0.00 $2,227.63 $397,200.06
211 $397,200.06 $990.44 $0.00 $2,245.83 $400,436.33
212 $400,436.33 $990.44 $0.00 $2,264.13 $403,690.90
213 $403,690.90 $990.44 $0.00 $2,282.53 $406,963.87
214 $406,963.87 $990.44 $0.00 $2,301.03 $410,255.34
215 $410,255.34 $990.44 $0.00 $2,319.64 $413,565.42
216 $413,565.42 $990.44 $0.00 $2,338.36 $416,894.22
217 $416,894.22 $990.44 $116,119.38 $2,357.18 $304,122.46
218 $304,122.46 $990.44 $0.00 $1,719.55 $306,832.45
219 $306,832.45 $990.44 $0.00 $1,734.88 $309,557.77
220 $309,557.77 $990.44 $0.00 $1,750.28 $312,298.49
221 $312,298.49 $990.44 $0.00 $1,765.78 $315,054.71
222 $315,054.71 $990.44 $0.00 $1,781.37 $317,826.52
223 $317,826.52 $990.44 $0.00 $1,797.04 $320,614.00
224 $320,614.00 $990.44 $0.00 $1,812.80 $323,417.24
225 $323,417.24 $990.44 $0.00 $1,828.65 $326,236.33
226 $326,236.33 $990.44 $0.00 $1,844.59 $329,071.36
227 $329,071.36 $990.44 $0.00 $1,860.62 $331,922.42
228 $331,922.42 $990.44 $0.00 $1,876.74 $334,789.60
229 $334,789.60 $990.44 $121,925.35 $1,892.95 $215,747.64
230 $215,747.64 $990.44 $0.00 $1,219.87 $217,957.95
231 $217,957.95 $990.44 $0.00 $1,232.37 $220,180.76
232 $220,180.76 $990.44 $0.00 $1,244.93 $222,416.13
233 $222,416.13 $990.44 $0.00 $1,257.57 $224,664.14
234 $224,664.14 $990.44 $0.00 $1,270.28 $226,924.86
235 $226,924.86 $990.44 $0.00 $1,283.07 $229,198.37
236 $229,198.37 $990.44 $0.00 $1,295.92 $231,484.73
237 $231,484.73 $990.44 $0.00 $1,308.85 $233,784.02
238 $233,784.02 $990.44 $0.00 $1,321.85 $236,096.31
239 $236,096.31 $990.44 $0.00 $1,334.92 $238,421.67
240 $238,421.67 $990.44 $0.00 $1,348.07 $240,760.18
241 $240,760.18 $990.44 $128,021.61 $1,361.29 $115,090.30
242 $115,090.30 $990.44 $0.00 $650.74 $116,731.48
243 $116,731.48 $990.44 $0.00 $660.02 $118,381.94
244 $118,381.94 $990.44 $0.00 $669.35 $120,041.73
245 $120,041.73 $990.44 $0.00 $678.73 $121,710.90
246 $121,710.90 $990.44 $0.00 $688.17 $123,389.51
247 $123,389.51 $990.44 $0.00 $697.66 $125,077.61
248 $125,077.61 $990.44 $0.00 $707.21 $126,775.26
249 $126,775.26 $990.44 $0.00 $716.81 $128,482.51
250 $128,482.51 $990.44 $0.00 $726.46 $130,199.41
251 $130,199.41 $990.44 $0.00 $736.17 $131,926.02
252 $131,926.02 $990.44 $0.00 $745.93 $133,662.39
253 $133,662.39 $0.00 $134,422.69 $755.75 ($4.55)