Savings Plan and Future Cost Estimation for Allen University

How much will it cost and what do you need to save?

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$62,844
Monthly savings required$497

How much will it cost to send your child to Allen University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $251,375.16 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $497.47 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$24,234.00
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 $497.47 $0.00 $0.00 $497.47
2 $497.47 $497.47 $0.00 $2.81 $997.75
3 $997.75 $497.47 $0.00 $5.64 $1,500.86
4 $1,500.86 $497.47 $0.00 $8.49 $2,006.82
5 $2,006.82 $497.47 $0.00 $11.35 $2,515.64
6 $2,515.64 $497.47 $0.00 $14.22 $3,027.33
7 $3,027.33 $497.47 $0.00 $17.12 $3,541.92
8 $3,541.92 $497.47 $0.00 $20.03 $4,059.42
9 $4,059.42 $497.47 $0.00 $22.95 $4,579.84
10 $4,579.84 $497.47 $0.00 $25.90 $5,103.21
11 $5,103.21 $497.47 $0.00 $28.85 $5,629.53
12 $5,629.53 $497.47 $0.00 $31.83 $6,158.83
13 $6,158.83 $497.47 $0.00 $34.82 $6,691.12
14 $6,691.12 $497.47 $0.00 $37.83 $7,226.42
15 $7,226.42 $497.47 $0.00 $40.86 $7,764.75
16 $7,764.75 $497.47 $0.00 $43.90 $8,306.12
17 $8,306.12 $497.47 $0.00 $46.96 $8,850.55
18 $8,850.55 $497.47 $0.00 $50.04 $9,398.06
19 $9,398.06 $497.47 $0.00 $53.14 $9,948.67
20 $9,948.67 $497.47 $0.00 $56.25 $10,502.39
21 $10,502.39 $497.47 $0.00 $59.38 $11,059.24
22 $11,059.24 $497.47 $0.00 $62.53 $11,619.24
23 $11,619.24 $497.47 $0.00 $65.70 $12,182.41
24 $12,182.41 $497.47 $0.00 $68.88 $12,748.76
25 $12,748.76 $497.47 $0.00 $72.08 $13,318.31
26 $13,318.31 $497.47 $0.00 $75.30 $13,891.08
27 $13,891.08 $497.47 $0.00 $78.54 $14,467.09
28 $14,467.09 $497.47 $0.00 $81.80 $15,046.36
29 $15,046.36 $497.47 $0.00 $85.07 $15,628.90
30 $15,628.90 $497.47 $0.00 $88.37 $16,214.74
31 $16,214.74 $497.47 $0.00 $91.68 $16,803.89
32 $16,803.89 $497.47 $0.00 $95.01 $17,396.37
33 $17,396.37 $497.47 $0.00 $98.36 $17,992.20
34 $17,992.20 $497.47 $0.00 $101.73 $18,591.40
35 $18,591.40 $497.47 $0.00 $105.12 $19,193.99
36 $19,193.99 $497.47 $0.00 $108.53 $19,799.99
37 $19,799.99 $497.47 $0.00 $111.95 $20,409.41
38 $20,409.41 $497.47 $0.00 $115.40 $21,022.28
39 $21,022.28 $497.47 $0.00 $118.86 $21,638.61
40 $21,638.61 $497.47 $0.00 $122.35 $22,258.43
41 $22,258.43 $497.47 $0.00 $125.85 $22,881.75
42 $22,881.75 $497.47 $0.00 $129.38 $23,508.60
43 $23,508.60 $497.47 $0.00 $132.92 $24,138.99
44 $24,138.99 $497.47 $0.00 $136.49 $24,772.95
45 $24,772.95 $497.47 $0.00 $140.07 $25,410.49
46 $25,410.49 $497.47 $0.00 $143.67 $26,051.63
47 $26,051.63 $497.47 $0.00 $147.30 $26,696.40
48 $26,696.40 $497.47 $0.00 $150.95 $27,344.82
49 $27,344.82 $497.47 $0.00 $154.61 $27,996.90
50 $27,996.90 $497.47 $0.00 $158.30 $28,652.67
51 $28,652.67 $497.47 $0.00 $162.01 $29,312.15
52 $29,312.15 $497.47 $0.00 $165.74 $29,975.36
53 $29,975.36 $497.47 $0.00 $169.49 $30,642.32
54 $30,642.32 $497.47 $0.00 $173.26 $31,313.05
55 $31,313.05 $497.47 $0.00 $177.05 $31,987.57
56 $31,987.57 $497.47 $0.00 $180.86 $32,665.90
57 $32,665.90 $497.47 $0.00 $184.70 $33,348.07
58 $33,348.07 $497.47 $0.00 $188.55 $34,034.09
59 $34,034.09 $497.47 $0.00 $192.43 $34,723.99
60 $34,723.99 $497.47 $0.00 $196.33 $35,417.79
61 $35,417.79 $497.47 $0.00 $200.26 $36,115.52
62 $36,115.52 $497.47 $0.00 $204.20 $36,817.19
63 $36,817.19 $497.47 $0.00 $208.17 $37,522.83
64 $37,522.83 $497.47 $0.00 $212.16 $38,232.46
65 $38,232.46 $497.47 $0.00 $216.17 $38,946.10
66 $38,946.10 $497.47 $0.00 $220.21 $39,663.78
67 $39,663.78 $497.47 $0.00 $224.26 $40,385.51
68 $40,385.51 $497.47 $0.00 $228.35 $41,111.33
69 $41,111.33 $497.47 $0.00 $232.45 $41,841.25
70 $41,841.25 $497.47 $0.00 $236.58 $42,575.30
71 $42,575.30 $497.47 $0.00 $240.73 $43,313.50
72 $43,313.50 $497.47 $0.00 $244.90 $44,055.87
73 $44,055.87 $497.47 $0.00 $249.10 $44,802.44
74 $44,802.44 $497.47 $0.00 $253.32 $45,553.23
75 $45,553.23 $497.47 $0.00 $257.56 $46,308.26
76 $46,308.26 $497.47 $0.00 $261.83 $47,067.56
77 $47,067.56 $497.47 $0.00 $266.13 $47,831.16
78 $47,831.16 $497.47 $0.00 $270.44 $48,599.07
79 $48,599.07 $497.47 $0.00 $274.79 $49,371.33
80 $49,371.33 $497.47 $0.00 $279.15 $50,147.95
81 $50,147.95 $497.47 $0.00 $283.54 $50,928.96
82 $50,928.96 $497.47 $0.00 $287.96 $51,714.39
83 $51,714.39 $497.47 $0.00 $292.40 $52,504.26
84 $52,504.26 $497.47 $0.00 $296.87 $53,298.60
85 $53,298.60 $497.47 $0.00 $301.36 $54,097.43
86 $54,097.43 $497.47 $0.00 $305.87 $54,900.77
87 $54,900.77 $497.47 $0.00 $310.42 $55,708.66
88 $55,708.66 $497.47 $0.00 $314.98 $56,521.11
89 $56,521.11 $497.47 $0.00 $319.58 $57,338.16
90 $57,338.16 $497.47 $0.00 $324.20 $58,159.83
91 $58,159.83 $497.47 $0.00 $328.84 $58,986.14
92 $58,986.14 $497.47 $0.00 $333.52 $59,817.13
93 $59,817.13 $497.47 $0.00 $338.21 $60,652.81
94 $60,652.81 $497.47 $0.00 $342.94 $61,493.22
95 $61,493.22 $497.47 $0.00 $347.69 $62,338.38
96 $62,338.38 $497.47 $0.00 $352.47 $63,188.32
97 $63,188.32 $497.47 $0.00 $357.28 $64,043.07
98 $64,043.07 $497.47 $0.00 $362.11 $64,902.65
99 $64,902.65 $497.47 $0.00 $366.97 $65,767.09
100 $65,767.09 $497.47 $0.00 $371.86 $66,636.42
101 $66,636.42 $497.47 $0.00 $376.77 $67,510.66
102 $67,510.66 $497.47 $0.00 $381.72 $68,389.85
103 $68,389.85 $497.47 $0.00 $386.69 $69,274.01
104 $69,274.01 $497.47 $0.00 $391.69 $70,163.17
105 $70,163.17 $497.47 $0.00 $396.71 $71,057.35
106 $71,057.35 $497.47 $0.00 $401.77 $71,956.59
107 $71,956.59 $497.47 $0.00 $406.85 $72,860.91
108 $72,860.91 $497.47 $0.00 $411.97 $73,770.35
109 $73,770.35 $497.47 $0.00 $417.11 $74,684.93
110 $74,684.93 $497.47 $0.00 $422.28 $75,604.68
111 $75,604.68 $497.47 $0.00 $427.48 $76,529.63
112 $76,529.63 $497.47 $0.00 $432.71 $77,459.81
113 $77,459.81 $497.47 $0.00 $437.97 $78,395.25
114 $78,395.25 $497.47 $0.00 $443.26 $79,335.98
115 $79,335.98 $497.47 $0.00 $448.58 $80,282.03
116 $80,282.03 $497.47 $0.00 $453.93 $81,233.43
117 $81,233.43 $497.47 $0.00 $459.31 $82,190.21
118 $82,190.21 $497.47 $0.00 $464.72 $83,152.40
119 $83,152.40 $497.47 $0.00 $470.16 $84,120.03
120 $84,120.03 $497.47 $0.00 $475.63 $85,093.13
121 $85,093.13 $497.47 $0.00 $481.13 $86,071.73
122 $86,071.73 $497.47 $0.00 $486.66 $87,055.86
123 $87,055.86 $497.47 $0.00 $492.23 $88,045.56
124 $88,045.56 $497.47 $0.00 $497.82 $89,040.85
125 $89,040.85 $497.47 $0.00 $503.45 $90,041.77
126 $90,041.77 $497.47 $0.00 $509.11 $91,048.35
127 $91,048.35 $497.47 $0.00 $514.80 $92,060.62
128 $92,060.62 $497.47 $0.00 $520.52 $93,078.61
129 $93,078.61 $497.47 $0.00 $526.28 $94,102.36
130 $94,102.36 $497.47 $0.00 $532.07 $95,131.90
131 $95,131.90 $497.47 $0.00 $537.89 $96,167.26
132 $96,167.26 $497.47 $0.00 $543.74 $97,208.47
133 $97,208.47 $497.47 $0.00 $549.63 $98,255.57
134 $98,255.57 $497.47 $0.00 $555.55 $99,308.59
135 $99,308.59 $497.47 $0.00 $561.51 $100,367.57
136 $100,367.57 $497.47 $0.00 $567.49 $101,432.53
137 $101,432.53 $497.47 $0.00 $573.51 $102,503.51
138 $102,503.51 $497.47 $0.00 $579.57 $103,580.55
139 $103,580.55 $497.47 $0.00 $585.66 $104,663.68
140 $104,663.68 $497.47 $0.00 $591.78 $105,752.93
141 $105,752.93 $497.47 $0.00 $597.94 $106,848.34
142 $106,848.34 $497.47 $0.00 $604.14 $107,949.95
143 $107,949.95 $497.47 $0.00 $610.36 $109,057.78
144 $109,057.78 $497.47 $0.00 $616.63 $110,171.88
145 $110,171.88 $497.47 $0.00 $622.93 $111,292.28
146 $111,292.28 $497.47 $0.00 $629.26 $112,419.01
147 $112,419.01 $497.47 $0.00 $635.63 $113,552.11
148 $113,552.11 $497.47 $0.00 $642.04 $114,691.62
149 $114,691.62 $497.47 $0.00 $648.48 $115,837.57
150 $115,837.57 $497.47 $0.00 $654.96 $116,990.00
151 $116,990.00 $497.47 $0.00 $661.48 $118,148.95
152 $118,148.95 $497.47 $0.00 $668.03 $119,314.45
153 $119,314.45 $497.47 $0.00 $674.62 $120,486.54
154 $120,486.54 $497.47 $0.00 $681.25 $121,665.26
155 $121,665.26 $497.47 $0.00 $687.91 $122,850.64
156 $122,850.64 $497.47 $0.00 $694.62 $124,042.73
157 $124,042.73 $497.47 $0.00 $701.36 $125,241.56
158 $125,241.56 $497.47 $0.00 $708.13 $126,447.16
159 $126,447.16 $497.47 $0.00 $714.95 $127,659.58
160 $127,659.58 $497.47 $0.00 $721.81 $128,878.86
161 $128,878.86 $497.47 $0.00 $728.70 $130,105.03
162 $130,105.03 $497.47 $0.00 $735.63 $131,338.13
163 $131,338.13 $497.47 $0.00 $742.60 $132,578.20
164 $132,578.20 $497.47 $0.00 $749.62 $133,825.29
165 $133,825.29 $497.47 $0.00 $756.67 $135,079.43
166 $135,079.43 $497.47 $0.00 $763.76 $136,340.66
167 $136,340.66 $497.47 $0.00 $770.89 $137,609.02
168 $137,609.02 $497.47 $0.00 $778.06 $138,884.55
169 $138,884.55 $497.47 $0.00 $785.27 $140,167.29
170 $140,167.29 $497.47 $0.00 $792.53 $141,457.29
171 $141,457.29 $497.47 $0.00 $799.82 $142,754.58
172 $142,754.58 $497.47 $0.00 $807.16 $144,059.21
173 $144,059.21 $497.47 $0.00 $814.53 $145,371.21
174 $145,371.21 $497.47 $0.00 $821.95 $146,690.63
175 $146,690.63 $497.47 $0.00 $829.41 $148,017.51
176 $148,017.51 $497.47 $0.00 $836.91 $149,351.89
177 $149,351.89 $497.47 $0.00 $844.46 $150,693.82
178 $150,693.82 $497.47 $0.00 $852.04 $152,043.33
179 $152,043.33 $497.47 $0.00 $859.68 $153,400.48
180 $153,400.48 $497.47 $0.00 $867.35 $154,765.30
181 $154,765.30 $497.47 $0.00 $875.07 $156,137.84
182 $156,137.84 $497.47 $0.00 $882.83 $157,518.14
183 $157,518.14 $497.47 $0.00 $890.63 $158,906.24
184 $158,906.24 $497.47 $0.00 $898.48 $160,302.19
185 $160,302.19 $497.47 $0.00 $906.37 $161,706.03
186 $161,706.03 $497.47 $0.00 $914.31 $163,117.81
187 $163,117.81 $497.47 $0.00 $922.29 $164,537.57
188 $164,537.57 $497.47 $0.00 $930.32 $165,965.36
189 $165,965.36 $497.47 $0.00 $938.39 $167,401.22
190 $167,401.22 $497.47 $0.00 $946.51 $168,845.20
191 $168,845.20 $497.47 $0.00 $954.68 $170,297.35
192 $170,297.35 $497.47 $0.00 $962.89 $171,757.71
193 $171,757.71 $497.47 $0.00 $971.14 $173,226.32
194 $173,226.32 $497.47 $0.00 $979.45 $174,703.24
195 $174,703.24 $497.47 $0.00 $987.80 $176,188.51
196 $176,188.51 $497.47 $0.00 $996.20 $177,682.18
197 $177,682.18 $497.47 $0.00 $1,004.64 $179,184.29
198 $179,184.29 $497.47 $0.00 $1,013.13 $180,694.89
199 $180,694.89 $497.47 $0.00 $1,021.68 $182,214.04
200 $182,214.04 $497.47 $0.00 $1,030.26 $183,741.77
201 $183,741.77 $497.47 $0.00 $1,038.90 $185,278.14
202 $185,278.14 $497.47 $0.00 $1,047.59 $186,823.20
203 $186,823.20 $497.47 $0.00 $1,056.33 $188,377.00
204 $188,377.00 $497.47 $0.00 $1,065.11 $189,939.58
205 $189,939.58 $497.47 $0.00 $1,073.95 $191,511.00
206 $191,511.00 $497.47 $0.00 $1,082.83 $193,091.30
207 $193,091.30 $497.47 $0.00 $1,091.77 $194,680.54
208 $194,680.54 $497.47 $0.00 $1,100.75 $196,278.76
209 $196,278.76 $497.47 $0.00 $1,109.79 $197,886.02
210 $197,886.02 $497.47 $0.00 $1,118.88 $199,502.37
211 $199,502.37 $497.47 $0.00 $1,128.02 $201,127.86
212 $201,127.86 $497.47 $0.00 $1,137.21 $202,762.54
213 $202,762.54 $497.47 $0.00 $1,146.45 $204,406.46
214 $204,406.46 $497.47 $0.00 $1,155.74 $206,059.67
215 $206,059.67 $497.47 $0.00 $1,165.09 $207,722.23
216 $207,722.23 $497.47 $0.00 $1,174.49 $209,394.19
217 $209,394.19 $497.47 $58,322.01 $1,183.95 $152,753.60
218 $152,753.60 $497.47 $0.00 $863.69 $154,114.76
219 $154,114.76 $497.47 $0.00 $871.39 $155,483.62
220 $155,483.62 $497.47 $0.00 $879.13 $156,860.22
221 $156,860.22 $497.47 $0.00 $886.91 $158,244.60
222 $158,244.60 $497.47 $0.00 $894.74 $159,636.81
223 $159,636.81 $497.47 $0.00 $902.61 $161,036.89
224 $161,036.89 $497.47 $0.00 $910.53 $162,444.89
225 $162,444.89 $497.47 $0.00 $918.49 $163,860.85
226 $163,860.85 $497.47 $0.00 $926.49 $165,284.81
227 $165,284.81 $497.47 $0.00 $934.54 $166,716.82
228 $166,716.82 $497.47 $0.00 $942.64 $168,156.93
229 $168,156.93 $497.47 $61,238.11 $950.78 $108,367.07
230 $108,367.07 $497.47 $0.00 $612.72 $109,477.26
231 $109,477.26 $497.47 $0.00 $619.00 $110,593.73
232 $110,593.73 $497.47 $0.00 $625.31 $111,716.51
233 $111,716.51 $497.47 $0.00 $631.66 $112,845.64
234 $112,845.64 $497.47 $0.00 $638.05 $113,981.16
235 $113,981.16 $497.47 $0.00 $644.47 $115,123.10
236 $115,123.10 $497.47 $0.00 $650.92 $116,271.49
237 $116,271.49 $497.47 $0.00 $657.42 $117,426.38
238 $117,426.38 $497.47 $0.00 $663.95 $118,587.80
239 $118,587.80 $497.47 $0.00 $670.51 $119,755.78
240 $119,755.78 $497.47 $0.00 $677.12 $120,930.37
241 $120,930.37 $497.47 $64,300.02 $683.76 $57,811.58
242 $57,811.58 $497.47 $0.00 $326.88 $58,635.93
243 $58,635.93 $497.47 $0.00 $331.54 $59,464.94
244 $59,464.94 $497.47 $0.00 $336.22 $60,298.63
245 $60,298.63 $497.47 $0.00 $340.94 $61,137.04
246 $61,137.04 $497.47 $0.00 $345.68 $61,980.19
247 $61,980.19 $497.47 $0.00 $350.45 $62,828.11
248 $62,828.11 $497.47 $0.00 $355.24 $63,680.82
249 $63,680.82 $497.47 $0.00 $360.06 $64,538.35
250 $64,538.35 $497.47 $0.00 $364.91 $65,400.73
251 $65,400.73 $497.47 $0.00 $369.79 $66,267.99
252 $66,267.99 $497.47 $0.00 $374.69 $67,140.15
253 $67,140.15 $0.00 $67,515.02 $379.62 $4.75