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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$81,790
Monthly savings required$647

How much will it cost to send your child to Penn State Shenango in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $327,159.05 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $647.44 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$31,540.00
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 $647.44 $0.00 $0.00 $647.44
2 $647.44 $647.44 $0.00 $3.66 $1,298.54
3 $1,298.54 $647.44 $0.00 $7.34 $1,953.32
4 $1,953.32 $647.44 $0.00 $11.04 $2,611.80
5 $2,611.80 $647.44 $0.00 $14.77 $3,274.01
6 $3,274.01 $647.44 $0.00 $18.51 $3,939.96
7 $3,939.96 $647.44 $0.00 $22.28 $4,609.68
8 $4,609.68 $647.44 $0.00 $26.06 $5,283.18
9 $5,283.18 $647.44 $0.00 $29.87 $5,960.49
10 $5,960.49 $647.44 $0.00 $33.70 $6,641.63
11 $6,641.63 $647.44 $0.00 $37.55 $7,326.62
12 $7,326.62 $647.44 $0.00 $41.43 $8,015.49
13 $8,015.49 $647.44 $0.00 $45.32 $8,708.25
14 $8,708.25 $647.44 $0.00 $49.24 $9,404.93
15 $9,404.93 $647.44 $0.00 $53.18 $10,105.55
16 $10,105.55 $647.44 $0.00 $57.14 $10,810.13
17 $10,810.13 $647.44 $0.00 $61.12 $11,518.69
18 $11,518.69 $647.44 $0.00 $65.13 $12,231.26
19 $12,231.26 $647.44 $0.00 $69.16 $12,947.86
20 $12,947.86 $647.44 $0.00 $73.21 $13,668.51
21 $13,668.51 $647.44 $0.00 $77.28 $14,393.23
22 $14,393.23 $647.44 $0.00 $81.38 $15,122.05
23 $15,122.05 $647.44 $0.00 $85.50 $15,854.99
24 $15,854.99 $647.44 $0.00 $89.65 $16,592.08
25 $16,592.08 $647.44 $0.00 $93.81 $17,333.33
26 $17,333.33 $647.44 $0.00 $98.01 $18,078.78
27 $18,078.78 $647.44 $0.00 $102.22 $18,828.44
28 $18,828.44 $647.44 $0.00 $106.46 $19,582.34
29 $19,582.34 $647.44 $0.00 $110.72 $20,340.50
30 $20,340.50 $647.44 $0.00 $115.01 $21,102.95
31 $21,102.95 $647.44 $0.00 $119.32 $21,869.71
32 $21,869.71 $647.44 $0.00 $123.65 $22,640.80
33 $22,640.80 $647.44 $0.00 $128.01 $23,416.25
34 $23,416.25 $647.44 $0.00 $132.40 $24,196.09
35 $24,196.09 $647.44 $0.00 $136.81 $24,980.34
36 $24,980.34 $647.44 $0.00 $141.24 $25,769.02
37 $25,769.02 $647.44 $0.00 $145.70 $26,562.16
38 $26,562.16 $647.44 $0.00 $150.19 $27,359.79
39 $27,359.79 $647.44 $0.00 $154.70 $28,161.93
40 $28,161.93 $647.44 $0.00 $159.23 $28,968.60
41 $28,968.60 $647.44 $0.00 $163.79 $29,779.83
42 $29,779.83 $647.44 $0.00 $168.38 $30,595.65
43 $30,595.65 $647.44 $0.00 $172.99 $31,416.08
44 $31,416.08 $647.44 $0.00 $177.63 $32,241.15
45 $32,241.15 $647.44 $0.00 $182.30 $33,070.89
46 $33,070.89 $647.44 $0.00 $186.99 $33,905.32
47 $33,905.32 $647.44 $0.00 $191.71 $34,744.47
48 $34,744.47 $647.44 $0.00 $196.45 $35,588.36
49 $35,588.36 $647.44 $0.00 $201.22 $36,437.02
50 $36,437.02 $647.44 $0.00 $206.02 $37,290.48
51 $37,290.48 $647.44 $0.00 $210.85 $38,148.77
52 $38,148.77 $647.44 $0.00 $215.70 $39,011.91
53 $39,011.91 $647.44 $0.00 $220.58 $39,879.93
54 $39,879.93 $647.44 $0.00 $225.49 $40,752.86
55 $40,752.86 $647.44 $0.00 $230.42 $41,630.72
56 $41,630.72 $647.44 $0.00 $235.39 $42,513.55
57 $42,513.55 $647.44 $0.00 $240.38 $43,401.37
58 $43,401.37 $647.44 $0.00 $245.40 $44,294.21
59 $44,294.21 $647.44 $0.00 $250.45 $45,192.10
60 $45,192.10 $647.44 $0.00 $255.52 $46,095.06
61 $46,095.06 $647.44 $0.00 $260.63 $47,003.13
62 $47,003.13 $647.44 $0.00 $265.76 $47,916.33
63 $47,916.33 $647.44 $0.00 $270.93 $48,834.70
64 $48,834.70 $647.44 $0.00 $276.12 $49,758.26
65 $49,758.26 $647.44 $0.00 $281.34 $50,687.04
66 $50,687.04 $647.44 $0.00 $286.59 $51,621.07
67 $51,621.07 $647.44 $0.00 $291.87 $52,560.38
68 $52,560.38 $647.44 $0.00 $297.18 $53,505.00
69 $53,505.00 $647.44 $0.00 $302.53 $54,454.97
70 $54,454.97 $647.44 $0.00 $307.90 $55,410.31
71 $55,410.31 $647.44 $0.00 $313.30 $56,371.05
72 $56,371.05 $647.44 $0.00 $318.73 $57,337.22
73 $57,337.22 $647.44 $0.00 $324.19 $58,308.85
74 $58,308.85 $647.44 $0.00 $329.69 $59,285.98
75 $59,285.98 $647.44 $0.00 $335.21 $60,268.63
76 $60,268.63 $647.44 $0.00 $340.77 $61,256.84
77 $61,256.84 $647.44 $0.00 $346.36 $62,250.64
78 $62,250.64 $647.44 $0.00 $351.97 $63,250.05
79 $63,250.05 $647.44 $0.00 $357.62 $64,255.11
80 $64,255.11 $647.44 $0.00 $363.31 $65,265.86
81 $65,265.86 $647.44 $0.00 $369.02 $66,282.32
82 $66,282.32 $647.44 $0.00 $374.77 $67,304.53
83 $67,304.53 $647.44 $0.00 $380.55 $68,332.52
84 $68,332.52 $647.44 $0.00 $386.36 $69,366.32
85 $69,366.32 $647.44 $0.00 $392.21 $70,405.97
86 $70,405.97 $647.44 $0.00 $398.09 $71,451.50
87 $71,451.50 $647.44 $0.00 $404.00 $72,502.94
88 $72,502.94 $647.44 $0.00 $409.94 $73,560.32
89 $73,560.32 $647.44 $0.00 $415.92 $74,623.68
90 $74,623.68 $647.44 $0.00 $421.93 $75,693.05
91 $75,693.05 $647.44 $0.00 $427.98 $76,768.47
92 $76,768.47 $647.44 $0.00 $434.06 $77,849.97
93 $77,849.97 $647.44 $0.00 $440.18 $78,937.59
94 $78,937.59 $647.44 $0.00 $446.32 $80,031.35
95 $80,031.35 $647.44 $0.00 $452.51 $81,131.30
96 $81,131.30 $647.44 $0.00 $458.73 $82,237.47
97 $82,237.47 $647.44 $0.00 $464.98 $83,349.89
98 $83,349.89 $647.44 $0.00 $471.27 $84,468.60
99 $84,468.60 $647.44 $0.00 $477.60 $85,593.64
100 $85,593.64 $647.44 $0.00 $483.96 $86,725.04
101 $86,725.04 $647.44 $0.00 $490.36 $87,862.84
102 $87,862.84 $647.44 $0.00 $496.79 $89,007.07
103 $89,007.07 $647.44 $0.00 $503.26 $90,157.77
104 $90,157.77 $647.44 $0.00 $509.77 $91,314.98
105 $91,314.98 $647.44 $0.00 $516.31 $92,478.73
106 $92,478.73 $647.44 $0.00 $522.89 $93,649.06
107 $93,649.06 $647.44 $0.00 $529.51 $94,826.01
108 $94,826.01 $647.44 $0.00 $536.16 $96,009.61
109 $96,009.61 $647.44 $0.00 $542.85 $97,199.90
110 $97,199.90 $647.44 $0.00 $549.58 $98,396.92
111 $98,396.92 $647.44 $0.00 $556.35 $99,600.71
112 $99,600.71 $647.44 $0.00 $563.16 $100,811.31
113 $100,811.31 $647.44 $0.00 $570.00 $102,028.75
114 $102,028.75 $647.44 $0.00 $576.89 $103,253.08
115 $103,253.08 $647.44 $0.00 $583.81 $104,484.33
116 $104,484.33 $647.44 $0.00 $590.77 $105,722.54
117 $105,722.54 $647.44 $0.00 $597.77 $106,967.75
118 $106,967.75 $647.44 $0.00 $604.81 $108,220.00
119 $108,220.00 $647.44 $0.00 $611.89 $109,479.33
120 $109,479.33 $647.44 $0.00 $619.01 $110,745.78
121 $110,745.78 $647.44 $0.00 $626.17 $112,019.39
122 $112,019.39 $647.44 $0.00 $633.37 $113,300.20
123 $113,300.20 $647.44 $0.00 $640.62 $114,588.26
124 $114,588.26 $647.44 $0.00 $647.90 $115,883.60
125 $115,883.60 $647.44 $0.00 $655.22 $117,186.26
126 $117,186.26 $647.44 $0.00 $662.59 $118,496.29
127 $118,496.29 $647.44 $0.00 $670.00 $119,813.73
128 $119,813.73 $647.44 $0.00 $677.44 $121,138.61
129 $121,138.61 $647.44 $0.00 $684.94 $122,470.99
130 $122,470.99 $647.44 $0.00 $692.47 $123,810.90
131 $123,810.90 $647.44 $0.00 $700.04 $125,158.38
132 $125,158.38 $647.44 $0.00 $707.66 $126,513.48
133 $126,513.48 $647.44 $0.00 $715.33 $127,876.25
134 $127,876.25 $647.44 $0.00 $723.03 $129,246.72
135 $129,246.72 $647.44 $0.00 $730.78 $130,624.94
136 $130,624.94 $647.44 $0.00 $738.57 $132,010.95
137 $132,010.95 $647.44 $0.00 $746.41 $133,404.80
138 $133,404.80 $647.44 $0.00 $754.29 $134,806.53
139 $134,806.53 $647.44 $0.00 $762.22 $136,216.19
140 $136,216.19 $647.44 $0.00 $770.19 $137,633.82
141 $137,633.82 $647.44 $0.00 $778.20 $139,059.46
142 $139,059.46 $647.44 $0.00 $786.26 $140,493.16
143 $140,493.16 $647.44 $0.00 $794.37 $141,934.97
144 $141,934.97 $647.44 $0.00 $802.52 $143,384.93
145 $143,384.93 $647.44 $0.00 $810.72 $144,843.09
146 $144,843.09 $647.44 $0.00 $818.96 $146,309.49
147 $146,309.49 $647.44 $0.00 $827.26 $147,784.19
148 $147,784.19 $647.44 $0.00 $835.59 $149,267.22
149 $149,267.22 $647.44 $0.00 $843.98 $150,758.64
150 $150,758.64 $647.44 $0.00 $852.41 $152,258.49
151 $152,258.49 $647.44 $0.00 $860.89 $153,766.82
152 $153,766.82 $647.44 $0.00 $869.42 $155,283.68
153 $155,283.68 $647.44 $0.00 $878.00 $156,809.12
154 $156,809.12 $647.44 $0.00 $886.62 $158,343.18
155 $158,343.18 $647.44 $0.00 $895.30 $159,885.92
156 $159,885.92 $647.44 $0.00 $904.02 $161,437.38
157 $161,437.38 $647.44 $0.00 $912.79 $162,997.61
158 $162,997.61 $647.44 $0.00 $921.61 $164,566.66
159 $164,566.66 $647.44 $0.00 $930.48 $166,144.58
160 $166,144.58 $647.44 $0.00 $939.41 $167,731.43
161 $167,731.43 $647.44 $0.00 $948.38 $169,327.25
162 $169,327.25 $647.44 $0.00 $957.40 $170,932.09
163 $170,932.09 $647.44 $0.00 $966.47 $172,546.00
164 $172,546.00 $647.44 $0.00 $975.60 $174,169.04
165 $174,169.04 $647.44 $0.00 $984.78 $175,801.26
166 $175,801.26 $647.44 $0.00 $994.01 $177,442.71
167 $177,442.71 $647.44 $0.00 $1,003.29 $179,093.44
168 $179,093.44 $647.44 $0.00 $1,012.62 $180,753.50
169 $180,753.50 $647.44 $0.00 $1,022.01 $182,422.95
170 $182,422.95 $647.44 $0.00 $1,031.45 $184,101.84
171 $184,101.84 $647.44 $0.00 $1,040.94 $185,790.22
172 $185,790.22 $647.44 $0.00 $1,050.48 $187,488.14
173 $187,488.14 $647.44 $0.00 $1,060.09 $189,195.67
174 $189,195.67 $647.44 $0.00 $1,069.74 $190,912.85
175 $190,912.85 $647.44 $0.00 $1,079.45 $192,639.74
176 $192,639.74 $647.44 $0.00 $1,089.21 $194,376.39
177 $194,376.39 $647.44 $0.00 $1,099.03 $196,122.86
178 $196,122.86 $647.44 $0.00 $1,108.91 $197,879.21
179 $197,879.21 $647.44 $0.00 $1,118.84 $199,645.49
180 $199,645.49 $647.44 $0.00 $1,128.82 $201,421.75
181 $201,421.75 $647.44 $0.00 $1,138.87 $203,208.06
182 $203,208.06 $647.44 $0.00 $1,148.97 $205,004.47
183 $205,004.47 $647.44 $0.00 $1,159.13 $206,811.04
184 $206,811.04 $647.44 $0.00 $1,169.34 $208,627.82
185 $208,627.82 $647.44 $0.00 $1,179.61 $210,454.87
186 $210,454.87 $647.44 $0.00 $1,189.94 $212,292.25
187 $212,292.25 $647.44 $0.00 $1,200.33 $214,140.02
188 $214,140.02 $647.44 $0.00 $1,210.78 $215,998.24
189 $215,998.24 $647.44 $0.00 $1,221.29 $217,866.97
190 $217,866.97 $647.44 $0.00 $1,231.85 $219,746.26
191 $219,746.26 $647.44 $0.00 $1,242.48 $221,636.18
192 $221,636.18 $647.44 $0.00 $1,253.16 $223,536.78
193 $223,536.78 $647.44 $0.00 $1,263.91 $225,448.13
194 $225,448.13 $647.44 $0.00 $1,274.72 $227,370.29
195 $227,370.29 $647.44 $0.00 $1,285.58 $229,303.31
196 $229,303.31 $647.44 $0.00 $1,296.51 $231,247.26
197 $231,247.26 $647.44 $0.00 $1,307.51 $233,202.21
198 $233,202.21 $647.44 $0.00 $1,318.56 $235,168.21
199 $235,168.21 $647.44 $0.00 $1,329.68 $237,145.33
200 $237,145.33 $647.44 $0.00 $1,340.85 $239,133.62
201 $239,133.62 $647.44 $0.00 $1,352.10 $241,133.16
202 $241,133.16 $647.44 $0.00 $1,363.40 $243,144.00
203 $243,144.00 $647.44 $0.00 $1,374.77 $245,166.21
204 $245,166.21 $647.44 $0.00 $1,386.21 $247,199.86
205 $247,199.86 $647.44 $0.00 $1,397.70 $249,245.00
206 $249,245.00 $647.44 $0.00 $1,409.27 $251,301.71
207 $251,301.71 $647.44 $0.00 $1,420.90 $253,370.05
208 $253,370.05 $647.44 $0.00 $1,432.59 $255,450.08
209 $255,450.08 $647.44 $0.00 $1,444.35 $257,541.87
210 $257,541.87 $647.44 $0.00 $1,456.18 $259,645.49
211 $259,645.49 $647.44 $0.00 $1,468.07 $261,761.00
212 $261,761.00 $647.44 $0.00 $1,480.03 $263,888.47
213 $263,888.47 $647.44 $0.00 $1,492.06 $266,027.97
214 $266,027.97 $647.44 $0.00 $1,504.16 $268,179.57
215 $268,179.57 $647.44 $0.00 $1,516.33 $270,343.34
216 $270,343.34 $647.44 $0.00 $1,528.56 $272,519.34
217 $272,519.34 $647.44 $75,904.77 $1,540.86 $198,802.87
218 $198,802.87 $647.44 $0.00 $1,124.06 $200,574.37
219 $200,574.37 $647.44 $0.00 $1,134.08 $202,355.89
220 $202,355.89 $647.44 $0.00 $1,144.15 $204,147.48
221 $204,147.48 $647.44 $0.00 $1,154.28 $205,949.20
222 $205,949.20 $647.44 $0.00 $1,164.47 $207,761.11
223 $207,761.11 $647.44 $0.00 $1,174.71 $209,583.26
224 $209,583.26 $647.44 $0.00 $1,185.01 $211,415.71
225 $211,415.71 $647.44 $0.00 $1,195.38 $213,258.53
226 $213,258.53 $647.44 $0.00 $1,205.79 $215,111.76
227 $215,111.76 $647.44 $0.00 $1,216.27 $216,975.47
228 $216,975.47 $647.44 $0.00 $1,226.81 $218,849.72
229 $218,849.72 $647.44 $79,700.01 $1,237.41 $141,034.56
230 $141,034.56 $647.44 $0.00 $797.43 $142,479.43
231 $142,479.43 $647.44 $0.00 $805.60 $143,932.47
232 $143,932.47 $647.44 $0.00 $813.82 $145,393.73
233 $145,393.73 $647.44 $0.00 $822.08 $146,863.25
234 $146,863.25 $647.44 $0.00 $830.39 $148,341.08
235 $148,341.08 $647.44 $0.00 $838.74 $149,827.26
236 $149,827.26 $647.44 $0.00 $847.15 $151,321.85
237 $151,321.85 $647.44 $0.00 $855.60 $152,824.89
238 $152,824.89 $647.44 $0.00 $864.09 $154,336.42
239 $154,336.42 $647.44 $0.00 $872.64 $155,856.50
240 $155,856.50 $647.44 $0.00 $881.24 $157,385.18
241 $157,385.18 $647.44 $83,685.01 $889.88 $75,237.49
242 $75,237.49 $647.44 $0.00 $425.40 $76,310.33
243 $76,310.33 $647.44 $0.00 $431.47 $77,389.24
244 $77,389.24 $647.44 $0.00 $437.57 $78,474.25
245 $78,474.25 $647.44 $0.00 $443.70 $79,565.39
246 $79,565.39 $647.44 $0.00 $449.87 $80,662.70
247 $80,662.70 $647.44 $0.00 $456.08 $81,766.22
248 $81,766.22 $647.44 $0.00 $462.32 $82,875.98
249 $82,875.98 $647.44 $0.00 $468.59 $83,992.01
250 $83,992.01 $647.44 $0.00 $474.90 $85,114.35
251 $85,114.35 $647.44 $0.00 $481.25 $86,243.04
252 $86,243.04 $647.44 $0.00 $487.63 $87,378.11
253 $87,378.11 $0.00 $87,869.26 $494.05 $2.90