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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$128,263
Monthly savings required$1,015

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 $513,050.53 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,015.32 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$49,461.00
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 $1,015.32 $0.00 $0.00 $1,015.32
2 $1,015.32 $1,015.32 $0.00 $5.74 $2,036.38
3 $2,036.38 $1,015.32 $0.00 $11.51 $3,063.21
4 $3,063.21 $1,015.32 $0.00 $17.32 $4,095.85
5 $4,095.85 $1,015.32 $0.00 $23.16 $5,134.33
6 $5,134.33 $1,015.32 $0.00 $29.03 $6,178.68
7 $6,178.68 $1,015.32 $0.00 $34.94 $7,228.94
8 $7,228.94 $1,015.32 $0.00 $40.87 $8,285.13
9 $8,285.13 $1,015.32 $0.00 $46.85 $9,347.30
10 $9,347.30 $1,015.32 $0.00 $52.85 $10,415.47
11 $10,415.47 $1,015.32 $0.00 $58.89 $11,489.68
12 $11,489.68 $1,015.32 $0.00 $64.96 $12,569.96
13 $12,569.96 $1,015.32 $0.00 $71.07 $13,656.35
14 $13,656.35 $1,015.32 $0.00 $77.21 $14,748.88
15 $14,748.88 $1,015.32 $0.00 $83.39 $15,847.59
16 $15,847.59 $1,015.32 $0.00 $89.60 $16,952.51
17 $16,952.51 $1,015.32 $0.00 $95.85 $18,063.68
18 $18,063.68 $1,015.32 $0.00 $102.13 $19,181.13
19 $19,181.13 $1,015.32 $0.00 $108.45 $20,304.90
20 $20,304.90 $1,015.32 $0.00 $114.81 $21,435.03
21 $21,435.03 $1,015.32 $0.00 $121.20 $22,571.55
22 $22,571.55 $1,015.32 $0.00 $127.62 $23,714.49
23 $23,714.49 $1,015.32 $0.00 $134.09 $24,863.90
24 $24,863.90 $1,015.32 $0.00 $140.58 $26,019.80
25 $26,019.80 $1,015.32 $0.00 $147.12 $27,182.24
26 $27,182.24 $1,015.32 $0.00 $153.69 $28,351.25
27 $28,351.25 $1,015.32 $0.00 $160.30 $29,526.87
28 $29,526.87 $1,015.32 $0.00 $166.95 $30,709.14
29 $30,709.14 $1,015.32 $0.00 $173.63 $31,898.09
30 $31,898.09 $1,015.32 $0.00 $180.36 $33,093.77
31 $33,093.77 $1,015.32 $0.00 $187.12 $34,296.21
32 $34,296.21 $1,015.32 $0.00 $193.92 $35,505.45
33 $35,505.45 $1,015.32 $0.00 $200.75 $36,721.52
34 $36,721.52 $1,015.32 $0.00 $207.63 $37,944.47
35 $37,944.47 $1,015.32 $0.00 $214.54 $39,174.33
36 $39,174.33 $1,015.32 $0.00 $221.50 $40,411.15
37 $40,411.15 $1,015.32 $0.00 $228.49 $41,654.96
38 $41,654.96 $1,015.32 $0.00 $235.52 $42,905.80
39 $42,905.80 $1,015.32 $0.00 $242.60 $44,163.72
40 $44,163.72 $1,015.32 $0.00 $249.71 $45,428.75
41 $45,428.75 $1,015.32 $0.00 $256.86 $46,700.93
42 $46,700.93 $1,015.32 $0.00 $264.05 $47,980.30
43 $47,980.30 $1,015.32 $0.00 $271.29 $49,266.91
44 $49,266.91 $1,015.32 $0.00 $278.56 $50,560.79
45 $50,560.79 $1,015.32 $0.00 $285.88 $51,861.99
46 $51,861.99 $1,015.32 $0.00 $293.24 $53,170.55
47 $53,170.55 $1,015.32 $0.00 $300.63 $54,486.50
48 $54,486.50 $1,015.32 $0.00 $308.07 $55,809.89
49 $55,809.89 $1,015.32 $0.00 $315.56 $57,140.77
50 $57,140.77 $1,015.32 $0.00 $323.08 $58,479.17
51 $58,479.17 $1,015.32 $0.00 $330.65 $59,825.14
52 $59,825.14 $1,015.32 $0.00 $338.26 $61,178.72
53 $61,178.72 $1,015.32 $0.00 $345.91 $62,539.95
54 $62,539.95 $1,015.32 $0.00 $353.61 $63,908.88
55 $63,908.88 $1,015.32 $0.00 $361.35 $65,285.55
56 $65,285.55 $1,015.32 $0.00 $369.13 $66,670.00
57 $66,670.00 $1,015.32 $0.00 $376.96 $68,062.28
58 $68,062.28 $1,015.32 $0.00 $384.83 $69,462.43
59 $69,462.43 $1,015.32 $0.00 $392.75 $70,870.50
60 $70,870.50 $1,015.32 $0.00 $400.71 $72,286.53
61 $72,286.53 $1,015.32 $0.00 $408.72 $73,710.57
62 $73,710.57 $1,015.32 $0.00 $416.77 $75,142.66
63 $75,142.66 $1,015.32 $0.00 $424.87 $76,582.85
64 $76,582.85 $1,015.32 $0.00 $433.01 $78,031.18
65 $78,031.18 $1,015.32 $0.00 $441.20 $79,487.70
66 $79,487.70 $1,015.32 $0.00 $449.44 $80,952.46
67 $80,952.46 $1,015.32 $0.00 $457.72 $82,425.50
68 $82,425.50 $1,015.32 $0.00 $466.05 $83,906.87
69 $83,906.87 $1,015.32 $0.00 $474.42 $85,396.61
70 $85,396.61 $1,015.32 $0.00 $482.84 $86,894.77
71 $86,894.77 $1,015.32 $0.00 $491.32 $88,401.41
72 $88,401.41 $1,015.32 $0.00 $499.83 $89,916.56
73 $89,916.56 $1,015.32 $0.00 $508.40 $91,440.28
74 $91,440.28 $1,015.32 $0.00 $517.02 $92,972.62
75 $92,972.62 $1,015.32 $0.00 $525.68 $94,513.62
76 $94,513.62 $1,015.32 $0.00 $534.39 $96,063.33
77 $96,063.33 $1,015.32 $0.00 $543.16 $97,621.81
78 $97,621.81 $1,015.32 $0.00 $551.97 $99,189.10
79 $99,189.10 $1,015.32 $0.00 $560.83 $100,765.25
80 $100,765.25 $1,015.32 $0.00 $569.74 $102,350.31
81 $102,350.31 $1,015.32 $0.00 $578.70 $103,944.33
82 $103,944.33 $1,015.32 $0.00 $587.72 $105,547.37
83 $105,547.37 $1,015.32 $0.00 $596.78 $107,159.47
84 $107,159.47 $1,015.32 $0.00 $605.90 $108,780.69
85 $108,780.69 $1,015.32 $0.00 $615.06 $110,411.07
86 $110,411.07 $1,015.32 $0.00 $624.28 $112,050.67
87 $112,050.67 $1,015.32 $0.00 $633.55 $113,699.54
88 $113,699.54 $1,015.32 $0.00 $642.87 $115,357.73
89 $115,357.73 $1,015.32 $0.00 $652.25 $117,025.30
90 $117,025.30 $1,015.32 $0.00 $661.68 $118,702.30
91 $118,702.30 $1,015.32 $0.00 $671.16 $120,388.78
92 $120,388.78 $1,015.32 $0.00 $680.70 $122,084.80
93 $122,084.80 $1,015.32 $0.00 $690.29 $123,790.41
94 $123,790.41 $1,015.32 $0.00 $699.93 $125,505.66
95 $125,505.66 $1,015.32 $0.00 $709.63 $127,230.61
96 $127,230.61 $1,015.32 $0.00 $719.38 $128,965.31
97 $128,965.31 $1,015.32 $0.00 $729.19 $130,709.82
98 $130,709.82 $1,015.32 $0.00 $739.05 $132,464.19
99 $132,464.19 $1,015.32 $0.00 $748.97 $134,228.48
100 $134,228.48 $1,015.32 $0.00 $758.95 $136,002.75
101 $136,002.75 $1,015.32 $0.00 $768.98 $137,787.05
102 $137,787.05 $1,015.32 $0.00 $779.07 $139,581.44
103 $139,581.44 $1,015.32 $0.00 $789.21 $141,385.97
104 $141,385.97 $1,015.32 $0.00 $799.42 $143,200.71
105 $143,200.71 $1,015.32 $0.00 $809.68 $145,025.71
106 $145,025.71 $1,015.32 $0.00 $820.00 $146,861.03
107 $146,861.03 $1,015.32 $0.00 $830.37 $148,706.72
108 $148,706.72 $1,015.32 $0.00 $840.81 $150,562.85
109 $150,562.85 $1,015.32 $0.00 $851.30 $152,429.47
110 $152,429.47 $1,015.32 $0.00 $861.86 $154,306.65
111 $154,306.65 $1,015.32 $0.00 $872.47 $156,194.44
112 $156,194.44 $1,015.32 $0.00 $883.15 $158,092.91
113 $158,092.91 $1,015.32 $0.00 $893.88 $160,002.11
114 $160,002.11 $1,015.32 $0.00 $904.68 $161,922.11
115 $161,922.11 $1,015.32 $0.00 $915.53 $163,852.96
116 $163,852.96 $1,015.32 $0.00 $926.45 $165,794.73
117 $165,794.73 $1,015.32 $0.00 $937.43 $167,747.48
118 $167,747.48 $1,015.32 $0.00 $948.47 $169,711.27
119 $169,711.27 $1,015.32 $0.00 $959.57 $171,686.16
120 $171,686.16 $1,015.32 $0.00 $970.74 $173,672.22
121 $173,672.22 $1,015.32 $0.00 $981.97 $175,669.51
122 $175,669.51 $1,015.32 $0.00 $993.26 $177,678.09
123 $177,678.09 $1,015.32 $0.00 $1,004.62 $179,698.03
124 $179,698.03 $1,015.32 $0.00 $1,016.04 $181,729.39
125 $181,729.39 $1,015.32 $0.00 $1,027.52 $183,772.23
126 $183,772.23 $1,015.32 $0.00 $1,039.07 $185,826.62
127 $185,826.62 $1,015.32 $0.00 $1,050.69 $187,892.63
128 $187,892.63 $1,015.32 $0.00 $1,062.37 $189,970.32
129 $189,970.32 $1,015.32 $0.00 $1,074.12 $192,059.76
130 $192,059.76 $1,015.32 $0.00 $1,085.93 $194,161.01
131 $194,161.01 $1,015.32 $0.00 $1,097.81 $196,274.14
132 $196,274.14 $1,015.32 $0.00 $1,109.76 $198,399.22
133 $198,399.22 $1,015.32 $0.00 $1,121.78 $200,536.32
134 $200,536.32 $1,015.32 $0.00 $1,133.86 $202,685.50
135 $202,685.50 $1,015.32 $0.00 $1,146.01 $204,846.83
136 $204,846.83 $1,015.32 $0.00 $1,158.23 $207,020.38
137 $207,020.38 $1,015.32 $0.00 $1,170.52 $209,206.22
138 $209,206.22 $1,015.32 $0.00 $1,182.88 $211,404.42
139 $211,404.42 $1,015.32 $0.00 $1,195.31 $213,615.05
140 $213,615.05 $1,015.32 $0.00 $1,207.81 $215,838.18
141 $215,838.18 $1,015.32 $0.00 $1,220.38 $218,073.88
142 $218,073.88 $1,015.32 $0.00 $1,233.02 $220,322.22
143 $220,322.22 $1,015.32 $0.00 $1,245.73 $222,583.27
144 $222,583.27 $1,015.32 $0.00 $1,258.52 $224,857.11
145 $224,857.11 $1,015.32 $0.00 $1,271.37 $227,143.80
146 $227,143.80 $1,015.32 $0.00 $1,284.30 $229,443.42
147 $229,443.42 $1,015.32 $0.00 $1,297.31 $231,756.05
148 $231,756.05 $1,015.32 $0.00 $1,310.38 $234,081.75
149 $234,081.75 $1,015.32 $0.00 $1,323.53 $236,420.60
150 $236,420.60 $1,015.32 $0.00 $1,336.76 $238,772.68
151 $238,772.68 $1,015.32 $0.00 $1,350.06 $241,138.06
152 $241,138.06 $1,015.32 $0.00 $1,363.43 $243,516.81
153 $243,516.81 $1,015.32 $0.00 $1,376.88 $245,909.01
154 $245,909.01 $1,015.32 $0.00 $1,390.41 $248,314.74
155 $248,314.74 $1,015.32 $0.00 $1,404.01 $250,734.07
156 $250,734.07 $1,015.32 $0.00 $1,417.69 $253,167.08
157 $253,167.08 $1,015.32 $0.00 $1,431.44 $255,613.84
158 $255,613.84 $1,015.32 $0.00 $1,445.28 $258,074.44
159 $258,074.44 $1,015.32 $0.00 $1,459.19 $260,548.95
160 $260,548.95 $1,015.32 $0.00 $1,473.18 $263,037.45
161 $263,037.45 $1,015.32 $0.00 $1,487.25 $265,540.02
162 $265,540.02 $1,015.32 $0.00 $1,501.40 $268,056.74
163 $268,056.74 $1,015.32 $0.00 $1,515.63 $270,587.69
164 $270,587.69 $1,015.32 $0.00 $1,529.94 $273,132.95
165 $273,132.95 $1,015.32 $0.00 $1,544.33 $275,692.60
166 $275,692.60 $1,015.32 $0.00 $1,558.81 $278,266.73
167 $278,266.73 $1,015.32 $0.00 $1,573.36 $280,855.41
168 $280,855.41 $1,015.32 $0.00 $1,588.00 $283,458.73
169 $283,458.73 $1,015.32 $0.00 $1,602.72 $286,076.77
170 $286,076.77 $1,015.32 $0.00 $1,617.52 $288,709.61
171 $288,709.61 $1,015.32 $0.00 $1,632.41 $291,357.34
172 $291,357.34 $1,015.32 $0.00 $1,647.38 $294,020.04
173 $294,020.04 $1,015.32 $0.00 $1,662.43 $296,697.79
174 $296,697.79 $1,015.32 $0.00 $1,677.57 $299,390.68
175 $299,390.68 $1,015.32 $0.00 $1,692.80 $302,098.80
176 $302,098.80 $1,015.32 $0.00 $1,708.11 $304,822.23
177 $304,822.23 $1,015.32 $0.00 $1,723.51 $307,561.06
178 $307,561.06 $1,015.32 $0.00 $1,738.99 $310,315.37
179 $310,315.37 $1,015.32 $0.00 $1,754.57 $313,085.26
180 $313,085.26 $1,015.32 $0.00 $1,770.23 $315,870.81
181 $315,870.81 $1,015.32 $0.00 $1,785.98 $318,672.11
182 $318,672.11 $1,015.32 $0.00 $1,801.82 $321,489.25
183 $321,489.25 $1,015.32 $0.00 $1,817.75 $324,322.32
184 $324,322.32 $1,015.32 $0.00 $1,833.77 $327,171.41
185 $327,171.41 $1,015.32 $0.00 $1,849.87 $330,036.60
186 $330,036.60 $1,015.32 $0.00 $1,866.07 $332,917.99
187 $332,917.99 $1,015.32 $0.00 $1,882.37 $335,815.68
188 $335,815.68 $1,015.32 $0.00 $1,898.75 $338,729.75
189 $338,729.75 $1,015.32 $0.00 $1,915.23 $341,660.30
190 $341,660.30 $1,015.32 $0.00 $1,931.80 $344,607.42
191 $344,607.42 $1,015.32 $0.00 $1,948.46 $347,571.20
192 $347,571.20 $1,015.32 $0.00 $1,965.22 $350,551.74
193 $350,551.74 $1,015.32 $0.00 $1,982.07 $353,549.13
194 $353,549.13 $1,015.32 $0.00 $1,999.02 $356,563.47
195 $356,563.47 $1,015.32 $0.00 $2,016.06 $359,594.85
196 $359,594.85 $1,015.32 $0.00 $2,033.20 $362,643.37
197 $362,643.37 $1,015.32 $0.00 $2,050.44 $365,709.13
198 $365,709.13 $1,015.32 $0.00 $2,067.77 $368,792.22
199 $368,792.22 $1,015.32 $0.00 $2,085.20 $371,892.74
200 $371,892.74 $1,015.32 $0.00 $2,102.74 $375,010.80
201 $375,010.80 $1,015.32 $0.00 $2,120.37 $378,146.49
202 $378,146.49 $1,015.32 $0.00 $2,138.10 $381,299.91
203 $381,299.91 $1,015.32 $0.00 $2,155.93 $384,471.16
204 $384,471.16 $1,015.32 $0.00 $2,173.86 $387,660.34
205 $387,660.34 $1,015.32 $0.00 $2,191.89 $390,867.55
206 $390,867.55 $1,015.32 $0.00 $2,210.02 $394,092.89
207 $394,092.89 $1,015.32 $0.00 $2,228.26 $397,336.47
208 $397,336.47 $1,015.32 $0.00 $2,246.60 $400,598.39
209 $400,598.39 $1,015.32 $0.00 $2,265.04 $403,878.75
210 $403,878.75 $1,015.32 $0.00 $2,283.59 $407,177.66
211 $407,177.66 $1,015.32 $0.00 $2,302.24 $410,495.22
212 $410,495.22 $1,015.32 $0.00 $2,321.00 $413,831.54
213 $413,831.54 $1,015.32 $0.00 $2,339.86 $417,186.72
214 $417,186.72 $1,015.32 $0.00 $2,358.83 $420,560.87
215 $420,560.87 $1,015.32 $0.00 $2,377.91 $423,954.10
216 $423,954.10 $1,015.32 $0.00 $2,397.10 $427,366.52
217 $427,366.52 $1,015.32 $119,033.79 $2,416.39 $311,764.44
218 $311,764.44 $1,015.32 $0.00 $1,762.76 $314,542.52
219 $314,542.52 $1,015.32 $0.00 $1,778.47 $317,336.31
220 $317,336.31 $1,015.32 $0.00 $1,794.27 $320,145.90
221 $320,145.90 $1,015.32 $0.00 $1,810.15 $322,971.37
222 $322,971.37 $1,015.32 $0.00 $1,826.13 $325,812.82
223 $325,812.82 $1,015.32 $0.00 $1,842.19 $328,670.33
224 $328,670.33 $1,015.32 $0.00 $1,858.35 $331,544.00
225 $331,544.00 $1,015.32 $0.00 $1,874.60 $334,433.92
226 $334,433.92 $1,015.32 $0.00 $1,890.94 $337,340.18
227 $337,340.18 $1,015.32 $0.00 $1,907.37 $340,262.87
228 $340,262.87 $1,015.32 $0.00 $1,923.90 $343,202.09
229 $343,202.09 $1,015.32 $124,985.48 $1,940.51 $221,172.44
230 $221,172.44 $1,015.32 $0.00 $1,250.54 $223,438.30
231 $223,438.30 $1,015.32 $0.00 $1,263.35 $225,716.97
232 $225,716.97 $1,015.32 $0.00 $1,276.24 $228,008.53
233 $228,008.53 $1,015.32 $0.00 $1,289.19 $230,313.04
234 $230,313.04 $1,015.32 $0.00 $1,302.22 $232,630.58
235 $232,630.58 $1,015.32 $0.00 $1,315.33 $234,961.23
236 $234,961.23 $1,015.32 $0.00 $1,328.50 $237,305.05
237 $237,305.05 $1,015.32 $0.00 $1,341.76 $239,662.13
238 $239,662.13 $1,015.32 $0.00 $1,355.08 $242,032.53
239 $242,032.53 $1,015.32 $0.00 $1,368.49 $244,416.34
240 $244,416.34 $1,015.32 $0.00 $1,381.97 $246,813.63
241 $246,813.63 $1,015.32 $131,234.76 $1,395.52 $117,989.71
242 $117,989.71 $1,015.32 $0.00 $667.13 $119,672.16
243 $119,672.16 $1,015.32 $0.00 $676.64 $121,364.12
244 $121,364.12 $1,015.32 $0.00 $686.21 $123,065.65
245 $123,065.65 $1,015.32 $0.00 $695.83 $124,776.80
246 $124,776.80 $1,015.32 $0.00 $705.51 $126,497.63
247 $126,497.63 $1,015.32 $0.00 $715.24 $128,228.19
248 $128,228.19 $1,015.32 $0.00 $725.02 $129,968.53
249 $129,968.53 $1,015.32 $0.00 $734.86 $131,718.71
250 $131,718.71 $1,015.32 $0.00 $744.76 $133,478.79
251 $133,478.79 $1,015.32 $0.00 $754.71 $135,248.82
252 $135,248.82 $1,015.32 $0.00 $764.72 $137,028.86
253 $137,028.86 $0.00 $137,796.50 $774.78 $7.14