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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$120,107
Monthly savings required$951

How much will it cost to send your child to Robert Morris University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $480,427.98 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $950.75 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$46,316.00
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 $950.75 $0.00 $0.00 $950.75
2 $950.75 $950.75 $0.00 $5.38 $1,906.88
3 $1,906.88 $950.75 $0.00 $10.78 $2,868.41
4 $2,868.41 $950.75 $0.00 $16.22 $3,835.38
5 $3,835.38 $950.75 $0.00 $21.69 $4,807.82
6 $4,807.82 $950.75 $0.00 $27.18 $5,785.75
7 $5,785.75 $950.75 $0.00 $32.71 $6,769.21
8 $6,769.21 $950.75 $0.00 $38.27 $7,758.23
9 $7,758.23 $950.75 $0.00 $43.87 $8,752.85
10 $8,752.85 $950.75 $0.00 $49.49 $9,753.09
11 $9,753.09 $950.75 $0.00 $55.15 $10,758.99
12 $10,758.99 $950.75 $0.00 $60.83 $11,770.57
13 $11,770.57 $950.75 $0.00 $66.55 $12,787.87
14 $12,787.87 $950.75 $0.00 $72.30 $13,810.92
15 $13,810.92 $950.75 $0.00 $78.09 $14,839.76
16 $14,839.76 $950.75 $0.00 $83.91 $15,874.42
17 $15,874.42 $950.75 $0.00 $89.76 $16,914.93
18 $16,914.93 $950.75 $0.00 $95.64 $17,961.32
19 $17,961.32 $950.75 $0.00 $101.56 $19,013.63
20 $19,013.63 $950.75 $0.00 $107.51 $20,071.89
21 $20,071.89 $950.75 $0.00 $113.49 $21,136.13
22 $21,136.13 $950.75 $0.00 $119.51 $22,206.39
23 $22,206.39 $950.75 $0.00 $125.56 $23,282.70
24 $23,282.70 $950.75 $0.00 $131.64 $24,365.09
25 $24,365.09 $950.75 $0.00 $137.76 $25,453.60
26 $25,453.60 $950.75 $0.00 $143.92 $26,548.27
27 $26,548.27 $950.75 $0.00 $150.11 $27,649.13
28 $27,649.13 $950.75 $0.00 $156.33 $28,756.21
29 $28,756.21 $950.75 $0.00 $162.59 $29,869.55
30 $29,869.55 $950.75 $0.00 $168.89 $30,989.19
31 $30,989.19 $950.75 $0.00 $175.22 $32,115.16
32 $32,115.16 $950.75 $0.00 $181.58 $33,247.49
33 $33,247.49 $950.75 $0.00 $187.99 $34,386.23
34 $34,386.23 $950.75 $0.00 $194.42 $35,531.40
35 $35,531.40 $950.75 $0.00 $200.90 $36,683.05
36 $36,683.05 $950.75 $0.00 $207.41 $37,841.21
37 $37,841.21 $950.75 $0.00 $213.96 $39,005.92
38 $39,005.92 $950.75 $0.00 $220.55 $40,177.22
39 $40,177.22 $950.75 $0.00 $227.17 $41,355.14
40 $41,355.14 $950.75 $0.00 $233.83 $42,539.72
41 $42,539.72 $950.75 $0.00 $240.53 $43,731.00
42 $43,731.00 $950.75 $0.00 $247.26 $44,929.01
43 $44,929.01 $950.75 $0.00 $254.04 $46,133.80
44 $46,133.80 $950.75 $0.00 $260.85 $47,345.40
45 $47,345.40 $950.75 $0.00 $267.70 $48,563.85
46 $48,563.85 $950.75 $0.00 $274.59 $49,789.19
47 $49,789.19 $950.75 $0.00 $281.52 $51,021.46
48 $51,021.46 $950.75 $0.00 $288.48 $52,260.69
49 $52,260.69 $950.75 $0.00 $295.49 $53,506.93
50 $53,506.93 $950.75 $0.00 $302.54 $54,760.22
51 $54,760.22 $950.75 $0.00 $309.62 $56,020.59
52 $56,020.59 $950.75 $0.00 $316.75 $57,288.09
53 $57,288.09 $950.75 $0.00 $323.92 $58,562.76
54 $58,562.76 $950.75 $0.00 $331.12 $59,844.63
55 $59,844.63 $950.75 $0.00 $338.37 $61,133.75
56 $61,133.75 $950.75 $0.00 $345.66 $62,430.16
57 $62,430.16 $950.75 $0.00 $352.99 $63,733.90
58 $63,733.90 $950.75 $0.00 $360.36 $65,045.01
59 $65,045.01 $950.75 $0.00 $367.77 $66,363.53
60 $66,363.53 $950.75 $0.00 $375.23 $67,689.51
61 $67,689.51 $950.75 $0.00 $382.73 $69,022.99
62 $69,022.99 $950.75 $0.00 $390.27 $70,364.01
63 $70,364.01 $950.75 $0.00 $397.85 $71,712.61
64 $71,712.61 $950.75 $0.00 $405.47 $73,068.83
65 $73,068.83 $950.75 $0.00 $413.14 $74,432.72
66 $74,432.72 $950.75 $0.00 $420.85 $75,804.32
67 $75,804.32 $950.75 $0.00 $428.61 $77,183.68
68 $77,183.68 $950.75 $0.00 $436.41 $78,570.84
69 $78,570.84 $950.75 $0.00 $444.25 $79,965.84
70 $79,965.84 $950.75 $0.00 $452.14 $81,368.73
71 $81,368.73 $950.75 $0.00 $460.07 $82,779.55
72 $82,779.55 $950.75 $0.00 $468.05 $84,198.35
73 $84,198.35 $950.75 $0.00 $476.07 $85,625.17
74 $85,625.17 $950.75 $0.00 $484.14 $87,060.06
75 $87,060.06 $950.75 $0.00 $492.25 $88,503.06
76 $88,503.06 $950.75 $0.00 $500.41 $89,954.22
77 $89,954.22 $950.75 $0.00 $508.61 $91,413.58
78 $91,413.58 $950.75 $0.00 $516.87 $92,881.20
79 $92,881.20 $950.75 $0.00 $525.16 $94,357.11
80 $94,357.11 $950.75 $0.00 $533.51 $95,841.37
81 $95,841.37 $950.75 $0.00 $541.90 $97,334.02
82 $97,334.02 $950.75 $0.00 $550.34 $98,835.11
83 $98,835.11 $950.75 $0.00 $558.83 $100,344.69
84 $100,344.69 $950.75 $0.00 $567.36 $101,862.80
85 $101,862.80 $950.75 $0.00 $575.95 $103,389.50
86 $103,389.50 $950.75 $0.00 $584.58 $104,924.83
87 $104,924.83 $950.75 $0.00 $593.26 $106,468.84
88 $106,468.84 $950.75 $0.00 $601.99 $108,021.58
89 $108,021.58 $950.75 $0.00 $610.77 $109,583.10
90 $109,583.10 $950.75 $0.00 $619.60 $111,153.45
91 $111,153.45 $950.75 $0.00 $628.48 $112,732.68
92 $112,732.68 $950.75 $0.00 $637.41 $114,320.84
93 $114,320.84 $950.75 $0.00 $646.39 $115,917.98
94 $115,917.98 $950.75 $0.00 $655.42 $117,524.15
95 $117,524.15 $950.75 $0.00 $664.50 $119,139.40
96 $119,139.40 $950.75 $0.00 $673.63 $120,763.78
97 $120,763.78 $950.75 $0.00 $682.82 $122,397.35
98 $122,397.35 $950.75 $0.00 $692.05 $124,040.15
99 $124,040.15 $950.75 $0.00 $701.34 $125,692.24
100 $125,692.24 $950.75 $0.00 $710.68 $127,353.67
101 $127,353.67 $950.75 $0.00 $720.08 $129,024.50
102 $129,024.50 $950.75 $0.00 $729.52 $130,704.77
103 $130,704.77 $950.75 $0.00 $739.02 $132,394.54
104 $132,394.54 $950.75 $0.00 $748.58 $134,093.87
105 $134,093.87 $950.75 $0.00 $758.19 $135,802.81
106 $135,802.81 $950.75 $0.00 $767.85 $137,521.41
107 $137,521.41 $950.75 $0.00 $777.57 $139,249.73
108 $139,249.73 $950.75 $0.00 $787.34 $140,987.82
109 $140,987.82 $950.75 $0.00 $797.17 $142,735.74
110 $142,735.74 $950.75 $0.00 $807.05 $144,493.54
111 $144,493.54 $950.75 $0.00 $816.99 $146,261.28
112 $146,261.28 $950.75 $0.00 $826.98 $148,039.01
113 $148,039.01 $950.75 $0.00 $837.03 $149,826.79
114 $149,826.79 $950.75 $0.00 $847.14 $151,624.68
115 $151,624.68 $950.75 $0.00 $857.31 $153,432.74
116 $153,432.74 $950.75 $0.00 $867.53 $155,251.02
117 $155,251.02 $950.75 $0.00 $877.81 $157,079.58
118 $157,079.58 $950.75 $0.00 $888.15 $158,918.48
119 $158,918.48 $950.75 $0.00 $898.55 $160,767.78
120 $160,767.78 $950.75 $0.00 $909.00 $162,627.53
121 $162,627.53 $950.75 $0.00 $919.52 $164,497.80
122 $164,497.80 $950.75 $0.00 $930.09 $166,378.64
123 $166,378.64 $950.75 $0.00 $940.73 $168,270.12
124 $168,270.12 $950.75 $0.00 $951.42 $170,172.29
125 $170,172.29 $950.75 $0.00 $962.18 $172,085.22
126 $172,085.22 $950.75 $0.00 $972.99 $174,008.96
127 $174,008.96 $950.75 $0.00 $983.87 $175,943.58
128 $175,943.58 $950.75 $0.00 $994.81 $177,889.14
129 $177,889.14 $950.75 $0.00 $1,005.81 $179,845.70
130 $179,845.70 $950.75 $0.00 $1,016.87 $181,813.32
131 $181,813.32 $950.75 $0.00 $1,028.00 $183,792.07
132 $183,792.07 $950.75 $0.00 $1,039.19 $185,782.01
133 $185,782.01 $950.75 $0.00 $1,050.44 $187,783.20
134 $187,783.20 $950.75 $0.00 $1,061.75 $189,795.70
135 $189,795.70 $950.75 $0.00 $1,073.13 $191,819.58
136 $191,819.58 $950.75 $0.00 $1,084.58 $193,854.91
137 $193,854.91 $950.75 $0.00 $1,096.08 $195,901.74
138 $195,901.74 $950.75 $0.00 $1,107.66 $197,960.15
139 $197,960.15 $950.75 $0.00 $1,119.30 $200,030.20
140 $200,030.20 $950.75 $0.00 $1,131.00 $202,111.95
141 $202,111.95 $950.75 $0.00 $1,142.77 $204,205.47
142 $204,205.47 $950.75 $0.00 $1,154.61 $206,310.83
143 $206,310.83 $950.75 $0.00 $1,166.51 $208,428.09
144 $208,428.09 $950.75 $0.00 $1,178.48 $210,557.32
145 $210,557.32 $950.75 $0.00 $1,190.52 $212,698.59
146 $212,698.59 $950.75 $0.00 $1,202.63 $214,851.97
147 $214,851.97 $950.75 $0.00 $1,214.80 $217,017.52
148 $217,017.52 $950.75 $0.00 $1,227.05 $219,195.32
149 $219,195.32 $950.75 $0.00 $1,239.36 $221,385.43
150 $221,385.43 $950.75 $0.00 $1,251.75 $223,587.93
151 $223,587.93 $950.75 $0.00 $1,264.20 $225,802.88
152 $225,802.88 $950.75 $0.00 $1,276.72 $228,030.35
153 $228,030.35 $950.75 $0.00 $1,289.32 $230,270.42
154 $230,270.42 $950.75 $0.00 $1,301.98 $232,523.15
155 $232,523.15 $950.75 $0.00 $1,314.72 $234,788.62
156 $234,788.62 $950.75 $0.00 $1,327.53 $237,066.90
157 $237,066.90 $950.75 $0.00 $1,340.41 $239,358.06
158 $239,358.06 $950.75 $0.00 $1,353.37 $241,662.18
159 $241,662.18 $950.75 $0.00 $1,366.39 $243,979.32
160 $243,979.32 $950.75 $0.00 $1,379.49 $246,309.56
161 $246,309.56 $950.75 $0.00 $1,392.67 $248,652.98
162 $248,652.98 $950.75 $0.00 $1,405.92 $251,009.65
163 $251,009.65 $950.75 $0.00 $1,419.25 $253,379.65
164 $253,379.65 $950.75 $0.00 $1,432.65 $255,763.05
165 $255,763.05 $950.75 $0.00 $1,446.12 $258,159.92
166 $258,159.92 $950.75 $0.00 $1,459.67 $260,570.34
167 $260,570.34 $950.75 $0.00 $1,473.30 $262,994.39
168 $262,994.39 $950.75 $0.00 $1,487.01 $265,432.15
169 $265,432.15 $950.75 $0.00 $1,500.79 $267,883.69
170 $267,883.69 $950.75 $0.00 $1,514.65 $270,349.09
171 $270,349.09 $950.75 $0.00 $1,528.59 $272,828.43
172 $272,828.43 $950.75 $0.00 $1,542.61 $275,321.79
173 $275,321.79 $950.75 $0.00 $1,556.71 $277,829.25
174 $277,829.25 $950.75 $0.00 $1,570.89 $280,350.89
175 $280,350.89 $950.75 $0.00 $1,585.14 $282,886.78
176 $282,886.78 $950.75 $0.00 $1,599.48 $285,437.01
177 $285,437.01 $950.75 $0.00 $1,613.90 $288,001.66
178 $288,001.66 $950.75 $0.00 $1,628.40 $290,580.81
179 $290,580.81 $950.75 $0.00 $1,642.99 $293,174.55
180 $293,174.55 $950.75 $0.00 $1,657.65 $295,782.95
181 $295,782.95 $950.75 $0.00 $1,672.40 $298,406.10
182 $298,406.10 $950.75 $0.00 $1,687.23 $301,044.08
183 $301,044.08 $950.75 $0.00 $1,702.15 $303,696.98
184 $303,696.98 $950.75 $0.00 $1,717.15 $306,364.88
185 $306,364.88 $950.75 $0.00 $1,732.23 $309,047.86
186 $309,047.86 $950.75 $0.00 $1,747.40 $311,746.01
187 $311,746.01 $950.75 $0.00 $1,762.66 $314,459.42
188 $314,459.42 $950.75 $0.00 $1,778.00 $317,188.17
189 $317,188.17 $950.75 $0.00 $1,793.43 $319,932.35
190 $319,932.35 $950.75 $0.00 $1,808.94 $322,692.04
191 $322,692.04 $950.75 $0.00 $1,824.55 $325,467.34
192 $325,467.34 $950.75 $0.00 $1,840.24 $328,258.33
193 $328,258.33 $950.75 $0.00 $1,856.02 $331,065.10
194 $331,065.10 $950.75 $0.00 $1,871.89 $333,887.74
195 $333,887.74 $950.75 $0.00 $1,887.85 $336,726.34
196 $336,726.34 $950.75 $0.00 $1,903.90 $339,580.99
197 $339,580.99 $950.75 $0.00 $1,920.04 $342,451.78
198 $342,451.78 $950.75 $0.00 $1,936.27 $345,338.80
199 $345,338.80 $950.75 $0.00 $1,952.60 $348,242.15
200 $348,242.15 $950.75 $0.00 $1,969.01 $351,161.91
201 $351,161.91 $950.75 $0.00 $1,985.52 $354,098.18
202 $354,098.18 $950.75 $0.00 $2,002.12 $357,051.05
203 $357,051.05 $950.75 $0.00 $2,018.82 $360,020.62
204 $360,020.62 $950.75 $0.00 $2,035.61 $363,006.98
205 $363,006.98 $950.75 $0.00 $2,052.49 $366,010.22
206 $366,010.22 $950.75 $0.00 $2,069.47 $369,030.44
207 $369,030.44 $950.75 $0.00 $2,086.55 $372,067.74
208 $372,067.74 $950.75 $0.00 $2,103.73 $375,122.22
209 $375,122.22 $950.75 $0.00 $2,121.00 $378,193.97
210 $378,193.97 $950.75 $0.00 $2,138.36 $381,283.08
211 $381,283.08 $950.75 $0.00 $2,155.83 $384,389.66
212 $384,389.66 $950.75 $0.00 $2,173.40 $387,513.81
213 $387,513.81 $950.75 $0.00 $2,191.06 $390,655.62
214 $390,655.62 $950.75 $0.00 $2,208.82 $393,815.19
215 $393,815.19 $950.75 $0.00 $2,226.69 $396,992.63
216 $396,992.63 $950.75 $0.00 $2,244.65 $400,188.03
217 $400,188.03 $950.75 $111,464.98 $2,262.72 $291,936.52
218 $291,936.52 $950.75 $0.00 $1,650.65 $294,537.92
219 $294,537.92 $950.75 $0.00 $1,665.36 $297,154.03
220 $297,154.03 $950.75 $0.00 $1,680.15 $299,784.93
221 $299,784.93 $950.75 $0.00 $1,695.03 $302,430.71
222 $302,430.71 $950.75 $0.00 $1,709.99 $305,091.45
223 $305,091.45 $950.75 $0.00 $1,725.03 $307,767.23
224 $307,767.23 $950.75 $0.00 $1,740.16 $310,458.14
225 $310,458.14 $950.75 $0.00 $1,755.38 $313,164.27
226 $313,164.27 $950.75 $0.00 $1,770.68 $315,885.70
227 $315,885.70 $950.75 $0.00 $1,786.06 $318,622.51
228 $318,622.51 $950.75 $0.00 $1,801.54 $321,374.80
229 $321,374.80 $950.75 $117,038.23 $1,817.10 $207,104.42
230 $207,104.42 $950.75 $0.00 $1,171.00 $209,226.17
231 $209,226.17 $950.75 $0.00 $1,183.00 $211,359.92
232 $211,359.92 $950.75 $0.00 $1,195.06 $213,505.73
233 $213,505.73 $950.75 $0.00 $1,207.19 $215,663.67
234 $215,663.67 $950.75 $0.00 $1,219.39 $217,833.81
235 $217,833.81 $950.75 $0.00 $1,231.66 $220,016.22
236 $220,016.22 $950.75 $0.00 $1,244.00 $222,210.97
237 $222,210.97 $950.75 $0.00 $1,256.41 $224,418.13
238 $224,418.13 $950.75 $0.00 $1,268.89 $226,637.77
239 $226,637.77 $950.75 $0.00 $1,281.44 $228,869.96
240 $228,869.96 $950.75 $0.00 $1,294.06 $231,114.77
241 $231,114.77 $950.75 $122,890.14 $1,306.76 $110,482.14
242 $110,482.14 $950.75 $0.00 $624.68 $112,057.57
243 $112,057.57 $950.75 $0.00 $633.59 $113,641.91
244 $113,641.91 $950.75 $0.00 $642.55 $115,235.21
245 $115,235.21 $950.75 $0.00 $651.56 $116,837.52
246 $116,837.52 $950.75 $0.00 $660.62 $118,448.89
247 $118,448.89 $950.75 $0.00 $669.73 $120,069.37
248 $120,069.37 $950.75 $0.00 $678.89 $121,699.01
249 $121,699.01 $950.75 $0.00 $688.10 $123,337.86
250 $123,337.86 $950.75 $0.00 $697.37 $124,985.98
251 $124,985.98 $950.75 $0.00 $706.69 $126,643.42
252 $126,643.42 $950.75 $0.00 $716.06 $128,310.23
253 $128,310.23 $0.00 $129,034.64 $725.48 $1.07