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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$125,044
Monthly savings required$990

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 $500,177.85 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $989.84 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$48,220.00
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 $989.84 $0.00 $0.00 $989.84
2 $989.84 $989.84 $0.00 $5.60 $1,985.28
3 $1,985.28 $989.84 $0.00 $11.23 $2,986.35
4 $2,986.35 $989.84 $0.00 $16.89 $3,993.08
5 $3,993.08 $989.84 $0.00 $22.58 $5,005.50
6 $5,005.50 $989.84 $0.00 $28.30 $6,023.64
7 $6,023.64 $989.84 $0.00 $34.06 $7,047.54
8 $7,047.54 $989.84 $0.00 $39.85 $8,077.23
9 $8,077.23 $989.84 $0.00 $45.67 $9,112.74
10 $9,112.74 $989.84 $0.00 $51.52 $10,154.10
11 $10,154.10 $989.84 $0.00 $57.41 $11,201.35
12 $11,201.35 $989.84 $0.00 $63.33 $12,254.52
13 $12,254.52 $989.84 $0.00 $69.29 $13,313.65
14 $13,313.65 $989.84 $0.00 $75.28 $14,378.77
15 $14,378.77 $989.84 $0.00 $81.30 $15,449.91
16 $15,449.91 $989.84 $0.00 $87.36 $16,527.11
17 $16,527.11 $989.84 $0.00 $93.45 $17,610.40
18 $17,610.40 $989.84 $0.00 $99.57 $18,699.81
19 $18,699.81 $989.84 $0.00 $105.73 $19,795.38
20 $19,795.38 $989.84 $0.00 $111.93 $20,897.15
21 $20,897.15 $989.84 $0.00 $118.16 $22,005.15
22 $22,005.15 $989.84 $0.00 $124.42 $23,119.41
23 $23,119.41 $989.84 $0.00 $130.72 $24,239.97
24 $24,239.97 $989.84 $0.00 $137.06 $25,366.87
25 $25,366.87 $989.84 $0.00 $143.43 $26,500.14
26 $26,500.14 $989.84 $0.00 $149.84 $27,639.82
27 $27,639.82 $989.84 $0.00 $156.28 $28,785.94
28 $28,785.94 $989.84 $0.00 $162.76 $29,938.54
29 $29,938.54 $989.84 $0.00 $169.28 $31,097.66
30 $31,097.66 $989.84 $0.00 $175.83 $32,263.33
31 $32,263.33 $989.84 $0.00 $182.42 $33,435.59
32 $33,435.59 $989.84 $0.00 $189.05 $34,614.48
33 $34,614.48 $989.84 $0.00 $195.72 $35,800.04
34 $35,800.04 $989.84 $0.00 $202.42 $36,992.30
35 $36,992.30 $989.84 $0.00 $209.16 $38,191.30
36 $38,191.30 $989.84 $0.00 $215.94 $39,397.08
37 $39,397.08 $989.84 $0.00 $222.76 $40,609.68
38 $40,609.68 $989.84 $0.00 $229.61 $41,829.13
39 $41,829.13 $989.84 $0.00 $236.51 $43,055.48
40 $43,055.48 $989.84 $0.00 $243.44 $44,288.76
41 $44,288.76 $989.84 $0.00 $250.42 $45,529.02
42 $45,529.02 $989.84 $0.00 $257.43 $46,776.29
43 $46,776.29 $989.84 $0.00 $264.48 $48,030.61
44 $48,030.61 $989.84 $0.00 $271.57 $49,292.02
45 $49,292.02 $989.84 $0.00 $278.70 $50,560.56
46 $50,560.56 $989.84 $0.00 $285.88 $51,836.28
47 $51,836.28 $989.84 $0.00 $293.09 $53,119.21
48 $53,119.21 $989.84 $0.00 $300.34 $54,409.39
49 $54,409.39 $989.84 $0.00 $307.64 $55,706.87
50 $55,706.87 $989.84 $0.00 $314.97 $57,011.68
51 $57,011.68 $989.84 $0.00 $322.35 $58,323.87
52 $58,323.87 $989.84 $0.00 $329.77 $59,643.48
53 $59,643.48 $989.84 $0.00 $337.23 $60,970.55
54 $60,970.55 $989.84 $0.00 $344.74 $62,305.13
55 $62,305.13 $989.84 $0.00 $352.28 $63,647.25
56 $63,647.25 $989.84 $0.00 $359.87 $64,996.96
57 $64,996.96 $989.84 $0.00 $367.50 $66,354.30
58 $66,354.30 $989.84 $0.00 $375.18 $67,719.32
59 $67,719.32 $989.84 $0.00 $382.89 $69,092.05
60 $69,092.05 $989.84 $0.00 $390.66 $70,472.55
61 $70,472.55 $989.84 $0.00 $398.46 $71,860.85
62 $71,860.85 $989.84 $0.00 $406.31 $73,257.00
63 $73,257.00 $989.84 $0.00 $414.21 $74,661.05
64 $74,661.05 $989.84 $0.00 $422.14 $76,073.03
65 $76,073.03 $989.84 $0.00 $430.13 $77,493.00
66 $77,493.00 $989.84 $0.00 $438.16 $78,921.00
67 $78,921.00 $989.84 $0.00 $446.23 $80,357.07
68 $80,357.07 $989.84 $0.00 $454.35 $81,801.26
69 $81,801.26 $989.84 $0.00 $462.52 $83,253.62
70 $83,253.62 $989.84 $0.00 $470.73 $84,714.19
71 $84,714.19 $989.84 $0.00 $478.99 $86,183.02
72 $86,183.02 $989.84 $0.00 $487.29 $87,660.15
73 $87,660.15 $989.84 $0.00 $495.64 $89,145.63
74 $89,145.63 $989.84 $0.00 $504.04 $90,639.51
75 $90,639.51 $989.84 $0.00 $512.49 $92,141.84
76 $92,141.84 $989.84 $0.00 $520.98 $93,652.66
77 $93,652.66 $989.84 $0.00 $529.53 $95,172.03
78 $95,172.03 $989.84 $0.00 $538.12 $96,699.99
79 $96,699.99 $989.84 $0.00 $546.76 $98,236.59
80 $98,236.59 $989.84 $0.00 $555.44 $99,781.87
81 $99,781.87 $989.84 $0.00 $564.18 $101,335.89
82 $101,335.89 $989.84 $0.00 $572.97 $102,898.70
83 $102,898.70 $989.84 $0.00 $581.80 $104,470.34
84 $104,470.34 $989.84 $0.00 $590.69 $106,050.87
85 $106,050.87 $989.84 $0.00 $599.63 $107,640.34
86 $107,640.34 $989.84 $0.00 $608.61 $109,238.79
87 $109,238.79 $989.84 $0.00 $617.65 $110,846.28
88 $110,846.28 $989.84 $0.00 $626.74 $112,462.86
89 $112,462.86 $989.84 $0.00 $635.88 $114,088.58
90 $114,088.58 $989.84 $0.00 $645.07 $115,723.49
91 $115,723.49 $989.84 $0.00 $654.32 $117,367.65
92 $117,367.65 $989.84 $0.00 $663.61 $119,021.10
93 $119,021.10 $989.84 $0.00 $672.96 $120,683.90
94 $120,683.90 $989.84 $0.00 $682.36 $122,356.10
95 $122,356.10 $989.84 $0.00 $691.82 $124,037.76
96 $124,037.76 $989.84 $0.00 $701.33 $125,728.93
97 $125,728.93 $989.84 $0.00 $710.89 $127,429.66
98 $127,429.66 $989.84 $0.00 $720.51 $129,140.01
99 $129,140.01 $989.84 $0.00 $730.18 $130,860.03
100 $130,860.03 $989.84 $0.00 $739.90 $132,589.77
101 $132,589.77 $989.84 $0.00 $749.68 $134,329.29
102 $134,329.29 $989.84 $0.00 $759.52 $136,078.65
103 $136,078.65 $989.84 $0.00 $769.41 $137,837.90
104 $137,837.90 $989.84 $0.00 $779.36 $139,607.10
105 $139,607.10 $989.84 $0.00 $789.36 $141,386.30
106 $141,386.30 $989.84 $0.00 $799.42 $143,175.56
107 $143,175.56 $989.84 $0.00 $809.54 $144,974.94
108 $144,974.94 $989.84 $0.00 $819.71 $146,784.49
109 $146,784.49 $989.84 $0.00 $829.94 $148,604.27
110 $148,604.27 $989.84 $0.00 $840.23 $150,434.34
111 $150,434.34 $989.84 $0.00 $850.58 $152,274.76
112 $152,274.76 $989.84 $0.00 $860.98 $154,125.58
113 $154,125.58 $989.84 $0.00 $871.45 $155,986.87
114 $155,986.87 $989.84 $0.00 $881.97 $157,858.68
115 $157,858.68 $989.84 $0.00 $892.56 $159,741.08
116 $159,741.08 $989.84 $0.00 $903.20 $161,634.12
117 $161,634.12 $989.84 $0.00 $913.90 $163,537.86
118 $163,537.86 $989.84 $0.00 $924.67 $165,452.37
119 $165,452.37 $989.84 $0.00 $935.49 $167,377.70
120 $167,377.70 $989.84 $0.00 $946.38 $169,313.92
121 $169,313.92 $989.84 $0.00 $957.33 $171,261.09
122 $171,261.09 $989.84 $0.00 $968.34 $173,219.27
123 $173,219.27 $989.84 $0.00 $979.41 $175,188.52
124 $175,188.52 $989.84 $0.00 $990.54 $177,168.90
125 $177,168.90 $989.84 $0.00 $1,001.74 $179,160.48
126 $179,160.48 $989.84 $0.00 $1,013.00 $181,163.32
127 $181,163.32 $989.84 $0.00 $1,024.32 $183,177.48
128 $183,177.48 $989.84 $0.00 $1,035.71 $185,203.03
129 $185,203.03 $989.84 $0.00 $1,047.16 $187,240.03
130 $187,240.03 $989.84 $0.00 $1,058.68 $189,288.55
131 $189,288.55 $989.84 $0.00 $1,070.26 $191,348.65
132 $191,348.65 $989.84 $0.00 $1,081.91 $193,420.40
133 $193,420.40 $989.84 $0.00 $1,093.63 $195,503.87
134 $195,503.87 $989.84 $0.00 $1,105.41 $197,599.12
135 $197,599.12 $989.84 $0.00 $1,117.25 $199,706.21
136 $199,706.21 $989.84 $0.00 $1,129.17 $201,825.22
137 $201,825.22 $989.84 $0.00 $1,141.15 $203,956.21
138 $203,956.21 $989.84 $0.00 $1,153.20 $206,099.25
139 $206,099.25 $989.84 $0.00 $1,165.32 $208,254.41
140 $208,254.41 $989.84 $0.00 $1,177.50 $210,421.75
141 $210,421.75 $989.84 $0.00 $1,189.76 $212,601.35
142 $212,601.35 $989.84 $0.00 $1,202.08 $214,793.27
143 $214,793.27 $989.84 $0.00 $1,214.47 $216,997.58
144 $216,997.58 $989.84 $0.00 $1,226.94 $219,214.36
145 $219,214.36 $989.84 $0.00 $1,239.47 $221,443.67
146 $221,443.67 $989.84 $0.00 $1,252.07 $223,685.58
147 $223,685.58 $989.84 $0.00 $1,264.75 $225,940.17
148 $225,940.17 $989.84 $0.00 $1,277.50 $228,207.51
149 $228,207.51 $989.84 $0.00 $1,290.32 $230,487.67
150 $230,487.67 $989.84 $0.00 $1,303.21 $232,780.72
151 $232,780.72 $989.84 $0.00 $1,316.18 $235,086.74
152 $235,086.74 $989.84 $0.00 $1,329.21 $237,405.79
153 $237,405.79 $989.84 $0.00 $1,342.33 $239,737.96
154 $239,737.96 $989.84 $0.00 $1,355.51 $242,083.31
155 $242,083.31 $989.84 $0.00 $1,368.77 $244,441.92
156 $244,441.92 $989.84 $0.00 $1,382.11 $246,813.87
157 $246,813.87 $989.84 $0.00 $1,395.52 $249,199.23
158 $249,199.23 $989.84 $0.00 $1,409.01 $251,598.08
159 $251,598.08 $989.84 $0.00 $1,422.57 $254,010.49
160 $254,010.49 $989.84 $0.00 $1,436.21 $256,436.54
161 $256,436.54 $989.84 $0.00 $1,449.93 $258,876.31
162 $258,876.31 $989.84 $0.00 $1,463.72 $261,329.87
163 $261,329.87 $989.84 $0.00 $1,477.60 $263,797.31
164 $263,797.31 $989.84 $0.00 $1,491.55 $266,278.70
165 $266,278.70 $989.84 $0.00 $1,505.58 $268,774.12
166 $268,774.12 $989.84 $0.00 $1,519.69 $271,283.65
167 $271,283.65 $989.84 $0.00 $1,533.88 $273,807.37
168 $273,807.37 $989.84 $0.00 $1,548.15 $276,345.36
169 $276,345.36 $989.84 $0.00 $1,562.50 $278,897.70
170 $278,897.70 $989.84 $0.00 $1,576.93 $281,464.47
171 $281,464.47 $989.84 $0.00 $1,591.44 $284,045.75
172 $284,045.75 $989.84 $0.00 $1,606.04 $286,641.63
173 $286,641.63 $989.84 $0.00 $1,620.71 $289,252.18
174 $289,252.18 $989.84 $0.00 $1,635.47 $291,877.49
175 $291,877.49 $989.84 $0.00 $1,650.32 $294,517.65
176 $294,517.65 $989.84 $0.00 $1,665.25 $297,172.74
177 $297,172.74 $989.84 $0.00 $1,680.26 $299,842.84
178 $299,842.84 $989.84 $0.00 $1,695.36 $302,528.04
179 $302,528.04 $989.84 $0.00 $1,710.54 $305,228.42
180 $305,228.42 $989.84 $0.00 $1,725.81 $307,944.07
181 $307,944.07 $989.84 $0.00 $1,741.16 $310,675.07
182 $310,675.07 $989.84 $0.00 $1,756.60 $313,421.51
183 $313,421.51 $989.84 $0.00 $1,772.13 $316,183.48
184 $316,183.48 $989.84 $0.00 $1,787.75 $318,961.07
185 $318,961.07 $989.84 $0.00 $1,803.45 $321,754.36
186 $321,754.36 $989.84 $0.00 $1,819.25 $324,563.45
187 $324,563.45 $989.84 $0.00 $1,835.13 $327,388.42
188 $327,388.42 $989.84 $0.00 $1,851.10 $330,229.36
189 $330,229.36 $989.84 $0.00 $1,867.16 $333,086.36
190 $333,086.36 $989.84 $0.00 $1,883.32 $335,959.52
191 $335,959.52 $989.84 $0.00 $1,899.56 $338,848.92
192 $338,848.92 $989.84 $0.00 $1,915.90 $341,754.66
193 $341,754.66 $989.84 $0.00 $1,932.33 $344,676.83
194 $344,676.83 $989.84 $0.00 $1,948.85 $347,615.52
195 $347,615.52 $989.84 $0.00 $1,965.47 $350,570.83
196 $350,570.83 $989.84 $0.00 $1,982.18 $353,542.85
197 $353,542.85 $989.84 $0.00 $1,998.98 $356,531.67
198 $356,531.67 $989.84 $0.00 $2,015.88 $359,537.39
199 $359,537.39 $989.84 $0.00 $2,032.88 $362,560.11
200 $362,560.11 $989.84 $0.00 $2,049.97 $365,599.92
201 $365,599.92 $989.84 $0.00 $2,067.16 $368,656.92
202 $368,656.92 $989.84 $0.00 $2,084.44 $371,731.20
203 $371,731.20 $989.84 $0.00 $2,101.82 $374,822.86
204 $374,822.86 $989.84 $0.00 $2,119.30 $377,932.00
205 $377,932.00 $989.84 $0.00 $2,136.88 $381,058.72
206 $381,058.72 $989.84 $0.00 $2,154.56 $384,203.12
207 $384,203.12 $989.84 $0.00 $2,172.34 $387,365.30
208 $387,365.30 $989.84 $0.00 $2,190.22 $390,545.36
209 $390,545.36 $989.84 $0.00 $2,208.20 $393,743.40
210 $393,743.40 $989.84 $0.00 $2,226.28 $396,959.52
211 $396,959.52 $989.84 $0.00 $2,244.47 $400,193.83
212 $400,193.83 $989.84 $0.00 $2,262.75 $403,446.42
213 $403,446.42 $989.84 $0.00 $2,281.14 $406,717.40
214 $406,717.40 $989.84 $0.00 $2,299.64 $410,006.88
215 $410,006.88 $989.84 $0.00 $2,318.24 $413,314.96
216 $413,314.96 $989.84 $0.00 $2,336.94 $416,641.74
217 $416,641.74 $989.84 $116,047.18 $2,355.75 $303,940.15
218 $303,940.15 $989.84 $0.00 $1,718.52 $306,648.51
219 $306,648.51 $989.84 $0.00 $1,733.84 $309,372.19
220 $309,372.19 $989.84 $0.00 $1,749.24 $312,111.27
221 $312,111.27 $989.84 $0.00 $1,764.72 $314,865.83
222 $314,865.83 $989.84 $0.00 $1,780.30 $317,635.97
223 $317,635.97 $989.84 $0.00 $1,795.96 $320,421.77
224 $320,421.77 $989.84 $0.00 $1,811.71 $323,223.32
225 $323,223.32 $989.84 $0.00 $1,827.55 $326,040.71
226 $326,040.71 $989.84 $0.00 $1,843.48 $328,874.03
227 $328,874.03 $989.84 $0.00 $1,859.50 $331,723.37
228 $331,723.37 $989.84 $0.00 $1,875.61 $334,588.82
229 $334,588.82 $989.84 $121,849.54 $1,891.81 $215,620.93
230 $215,620.93 $989.84 $0.00 $1,219.15 $217,829.92
231 $217,829.92 $989.84 $0.00 $1,231.64 $220,051.40
232 $220,051.40 $989.84 $0.00 $1,244.20 $222,285.44
233 $222,285.44 $989.84 $0.00 $1,256.83 $224,532.11
234 $224,532.11 $989.84 $0.00 $1,269.54 $226,791.49
235 $226,791.49 $989.84 $0.00 $1,282.31 $229,063.64
236 $229,063.64 $989.84 $0.00 $1,295.16 $231,348.64
237 $231,348.64 $989.84 $0.00 $1,308.08 $233,646.56
238 $233,646.56 $989.84 $0.00 $1,321.07 $235,957.47
239 $235,957.47 $989.84 $0.00 $1,334.14 $238,281.45
240 $238,281.45 $989.84 $0.00 $1,347.28 $240,618.57
241 $240,618.57 $989.84 $127,942.02 $1,360.49 $115,026.88
242 $115,026.88 $989.84 $0.00 $650.38 $116,667.10
243 $116,667.10 $989.84 $0.00 $659.65 $118,316.59
244 $118,316.59 $989.84 $0.00 $668.98 $119,975.41
245 $119,975.41 $989.84 $0.00 $678.36 $121,643.61
246 $121,643.61 $989.84 $0.00 $687.79 $123,321.24
247 $123,321.24 $989.84 $0.00 $697.28 $125,008.36
248 $125,008.36 $989.84 $0.00 $706.82 $126,705.02
249 $126,705.02 $989.84 $0.00 $716.41 $128,411.27
250 $128,411.27 $989.84 $0.00 $726.06 $130,127.17
251 $130,127.17 $989.84 $0.00 $735.76 $131,852.77
252 $131,852.77 $989.84 $0.00 $745.51 $133,588.12
253 $133,588.12 $0.00 $134,339.12 $755.33 $4.33