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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$72,610
Monthly savings required$575

How much will it cost to send your child to Benedict College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $290,439.23 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $574.77 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$28,000.00
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 $574.77 $0.00 $0.00 $574.77
2 $574.77 $574.77 $0.00 $3.25 $1,152.79
3 $1,152.79 $574.77 $0.00 $6.52 $1,734.08
4 $1,734.08 $574.77 $0.00 $9.80 $2,318.65
5 $2,318.65 $574.77 $0.00 $13.11 $2,906.53
6 $2,906.53 $574.77 $0.00 $16.43 $3,497.73
7 $3,497.73 $574.77 $0.00 $19.78 $4,092.28
8 $4,092.28 $574.77 $0.00 $23.14 $4,690.19
9 $4,690.19 $574.77 $0.00 $26.52 $5,291.48
10 $5,291.48 $574.77 $0.00 $29.92 $5,896.17
11 $5,896.17 $574.77 $0.00 $33.34 $6,504.28
12 $6,504.28 $574.77 $0.00 $36.78 $7,115.83
13 $7,115.83 $574.77 $0.00 $40.23 $7,730.83
14 $7,730.83 $574.77 $0.00 $43.71 $8,349.31
15 $8,349.31 $574.77 $0.00 $47.21 $8,971.29
16 $8,971.29 $574.77 $0.00 $50.72 $9,596.78
17 $9,596.78 $574.77 $0.00 $54.26 $10,225.81
18 $10,225.81 $574.77 $0.00 $57.82 $10,858.40
19 $10,858.40 $574.77 $0.00 $61.39 $11,494.56
20 $11,494.56 $574.77 $0.00 $64.99 $12,134.32
21 $12,134.32 $574.77 $0.00 $68.61 $12,777.70
22 $12,777.70 $574.77 $0.00 $72.25 $13,424.72
23 $13,424.72 $574.77 $0.00 $75.91 $14,075.40
24 $14,075.40 $574.77 $0.00 $79.58 $14,729.75
25 $14,729.75 $574.77 $0.00 $83.28 $15,387.80
26 $15,387.80 $574.77 $0.00 $87.00 $16,049.57
27 $16,049.57 $574.77 $0.00 $90.75 $16,715.09
28 $16,715.09 $574.77 $0.00 $94.51 $17,384.37
29 $17,384.37 $574.77 $0.00 $98.29 $18,057.43
30 $18,057.43 $574.77 $0.00 $102.10 $18,734.30
31 $18,734.30 $574.77 $0.00 $105.93 $19,415.00
32 $19,415.00 $574.77 $0.00 $109.78 $20,099.55
33 $20,099.55 $574.77 $0.00 $113.65 $20,787.97
34 $20,787.97 $574.77 $0.00 $117.54 $21,480.28
35 $21,480.28 $574.77 $0.00 $121.45 $22,176.50
36 $22,176.50 $574.77 $0.00 $125.39 $22,876.66
37 $22,876.66 $574.77 $0.00 $129.35 $23,580.78
38 $23,580.78 $574.77 $0.00 $133.33 $24,288.88
39 $24,288.88 $574.77 $0.00 $137.33 $25,000.98
40 $25,000.98 $574.77 $0.00 $141.36 $25,717.11
41 $25,717.11 $574.77 $0.00 $145.41 $26,437.29
42 $26,437.29 $574.77 $0.00 $149.48 $27,161.54
43 $27,161.54 $574.77 $0.00 $153.58 $27,889.89
44 $27,889.89 $574.77 $0.00 $157.69 $28,622.35
45 $28,622.35 $574.77 $0.00 $161.83 $29,358.95
46 $29,358.95 $574.77 $0.00 $166.00 $30,099.72
47 $30,099.72 $574.77 $0.00 $170.19 $30,844.68
48 $30,844.68 $574.77 $0.00 $174.40 $31,593.85
49 $31,593.85 $574.77 $0.00 $178.64 $32,347.26
50 $32,347.26 $574.77 $0.00 $182.90 $33,104.93
51 $33,104.93 $574.77 $0.00 $187.18 $33,866.88
52 $33,866.88 $574.77 $0.00 $191.49 $34,633.14
53 $34,633.14 $574.77 $0.00 $195.82 $35,403.73
54 $35,403.73 $574.77 $0.00 $200.18 $36,178.68
55 $36,178.68 $574.77 $0.00 $204.56 $36,958.01
56 $36,958.01 $574.77 $0.00 $208.97 $37,741.75
57 $37,741.75 $574.77 $0.00 $213.40 $38,529.92
58 $38,529.92 $574.77 $0.00 $217.85 $39,322.54
59 $39,322.54 $574.77 $0.00 $222.34 $40,119.65
60 $40,119.65 $574.77 $0.00 $226.84 $40,921.26
61 $40,921.26 $574.77 $0.00 $231.37 $41,727.40
62 $41,727.40 $574.77 $0.00 $235.93 $42,538.10
63 $42,538.10 $574.77 $0.00 $240.52 $43,353.39
64 $43,353.39 $574.77 $0.00 $245.13 $44,173.29
65 $44,173.29 $574.77 $0.00 $249.76 $44,997.82
66 $44,997.82 $574.77 $0.00 $254.42 $45,827.01
67 $45,827.01 $574.77 $0.00 $259.11 $46,660.89
68 $46,660.89 $574.77 $0.00 $263.83 $47,499.49
69 $47,499.49 $574.77 $0.00 $268.57 $48,342.83
70 $48,342.83 $574.77 $0.00 $273.34 $49,190.94
71 $49,190.94 $574.77 $0.00 $278.13 $50,043.84
72 $50,043.84 $574.77 $0.00 $282.96 $50,901.57
73 $50,901.57 $574.77 $0.00 $287.80 $51,764.14
74 $51,764.14 $574.77 $0.00 $292.68 $52,631.59
75 $52,631.59 $574.77 $0.00 $297.59 $53,503.95
76 $53,503.95 $574.77 $0.00 $302.52 $54,381.24
77 $54,381.24 $574.77 $0.00 $307.48 $55,263.49
78 $55,263.49 $574.77 $0.00 $312.47 $56,150.73
79 $56,150.73 $574.77 $0.00 $317.48 $57,042.98
80 $57,042.98 $574.77 $0.00 $322.53 $57,940.28
81 $57,940.28 $574.77 $0.00 $327.60 $58,842.65
82 $58,842.65 $574.77 $0.00 $332.70 $59,750.12
83 $59,750.12 $574.77 $0.00 $337.84 $60,662.73
84 $60,662.73 $574.77 $0.00 $343.00 $61,580.50
85 $61,580.50 $574.77 $0.00 $348.19 $62,503.46
86 $62,503.46 $574.77 $0.00 $353.40 $63,431.63
87 $63,431.63 $574.77 $0.00 $358.65 $64,365.05
88 $64,365.05 $574.77 $0.00 $363.93 $65,303.75
89 $65,303.75 $574.77 $0.00 $369.24 $66,247.76
90 $66,247.76 $574.77 $0.00 $374.57 $67,197.10
91 $67,197.10 $574.77 $0.00 $379.94 $68,151.81
92 $68,151.81 $574.77 $0.00 $385.34 $69,111.92
93 $69,111.92 $574.77 $0.00 $390.77 $70,077.46
94 $70,077.46 $574.77 $0.00 $396.23 $71,048.46
95 $71,048.46 $574.77 $0.00 $401.72 $72,024.95
96 $72,024.95 $574.77 $0.00 $407.24 $73,006.96
97 $73,006.96 $574.77 $0.00 $412.79 $73,994.52
98 $73,994.52 $574.77 $0.00 $418.38 $74,987.67
99 $74,987.67 $574.77 $0.00 $423.99 $75,986.43
100 $75,986.43 $574.77 $0.00 $429.64 $76,990.84
101 $76,990.84 $574.77 $0.00 $435.32 $78,000.93
102 $78,000.93 $574.77 $0.00 $441.03 $79,016.73
103 $79,016.73 $574.77 $0.00 $446.77 $80,038.27
104 $80,038.27 $574.77 $0.00 $452.55 $81,065.59
105 $81,065.59 $574.77 $0.00 $458.36 $82,098.72
106 $82,098.72 $574.77 $0.00 $464.20 $83,137.69
107 $83,137.69 $574.77 $0.00 $470.07 $84,182.53
108 $84,182.53 $574.77 $0.00 $475.98 $85,233.28
109 $85,233.28 $574.77 $0.00 $481.92 $86,289.97
110 $86,289.97 $574.77 $0.00 $487.90 $87,352.64
111 $87,352.64 $574.77 $0.00 $493.90 $88,421.31
112 $88,421.31 $574.77 $0.00 $499.95 $89,496.03
113 $89,496.03 $574.77 $0.00 $506.02 $90,576.82
114 $90,576.82 $574.77 $0.00 $512.13 $91,663.72
115 $91,663.72 $574.77 $0.00 $518.28 $92,756.77
116 $92,756.77 $574.77 $0.00 $524.46 $93,856.00
117 $93,856.00 $574.77 $0.00 $530.68 $94,961.45
118 $94,961.45 $574.77 $0.00 $536.93 $96,073.15
119 $96,073.15 $574.77 $0.00 $543.21 $97,191.13
120 $97,191.13 $574.77 $0.00 $549.53 $98,315.43
121 $98,315.43 $574.77 $0.00 $555.89 $99,446.09
122 $99,446.09 $574.77 $0.00 $562.28 $100,583.14
123 $100,583.14 $574.77 $0.00 $568.71 $101,726.62
124 $101,726.62 $574.77 $0.00 $575.18 $102,876.57
125 $102,876.57 $574.77 $0.00 $581.68 $104,033.02
126 $104,033.02 $574.77 $0.00 $588.22 $105,196.01
127 $105,196.01 $574.77 $0.00 $594.79 $106,365.57
128 $106,365.57 $574.77 $0.00 $601.41 $107,541.75
129 $107,541.75 $574.77 $0.00 $608.06 $108,724.58
130 $108,724.58 $574.77 $0.00 $614.74 $109,914.09
131 $109,914.09 $574.77 $0.00 $621.47 $111,110.33
132 $111,110.33 $574.77 $0.00 $628.23 $112,313.33
133 $112,313.33 $574.77 $0.00 $635.04 $113,523.14
134 $113,523.14 $574.77 $0.00 $641.88 $114,739.79
135 $114,739.79 $574.77 $0.00 $648.76 $115,963.32
136 $115,963.32 $574.77 $0.00 $655.67 $117,193.76
137 $117,193.76 $574.77 $0.00 $662.63 $118,431.16
138 $118,431.16 $574.77 $0.00 $669.63 $119,675.56
139 $119,675.56 $574.77 $0.00 $676.66 $120,926.99
140 $120,926.99 $574.77 $0.00 $683.74 $122,185.50
141 $122,185.50 $574.77 $0.00 $690.85 $123,451.12
142 $123,451.12 $574.77 $0.00 $698.01 $124,723.90
143 $124,723.90 $574.77 $0.00 $705.21 $126,003.88
144 $126,003.88 $574.77 $0.00 $712.44 $127,291.09
145 $127,291.09 $574.77 $0.00 $719.72 $128,585.58
146 $128,585.58 $574.77 $0.00 $727.04 $129,887.39
147 $129,887.39 $574.77 $0.00 $734.40 $131,196.56
148 $131,196.56 $574.77 $0.00 $741.80 $132,513.13
149 $132,513.13 $574.77 $0.00 $749.25 $133,837.15
150 $133,837.15 $574.77 $0.00 $756.73 $135,168.65
151 $135,168.65 $574.77 $0.00 $764.26 $136,507.68
152 $136,507.68 $574.77 $0.00 $771.83 $137,854.28
153 $137,854.28 $574.77 $0.00 $779.45 $139,208.50
154 $139,208.50 $574.77 $0.00 $787.11 $140,570.38
155 $140,570.38 $574.77 $0.00 $794.81 $141,939.96
156 $141,939.96 $574.77 $0.00 $802.55 $143,317.28
157 $143,317.28 $574.77 $0.00 $810.34 $144,702.39
158 $144,702.39 $574.77 $0.00 $818.17 $146,095.33
159 $146,095.33 $574.77 $0.00 $826.04 $147,496.14
160 $147,496.14 $574.77 $0.00 $833.96 $148,904.87
161 $148,904.87 $574.77 $0.00 $841.93 $150,321.57
162 $150,321.57 $574.77 $0.00 $849.94 $151,746.28
163 $151,746.28 $574.77 $0.00 $858.00 $153,179.05
164 $153,179.05 $574.77 $0.00 $866.10 $154,619.92
165 $154,619.92 $574.77 $0.00 $874.24 $156,068.93
166 $156,068.93 $574.77 $0.00 $882.44 $157,526.14
167 $157,526.14 $574.77 $0.00 $890.68 $158,991.59
168 $158,991.59 $574.77 $0.00 $898.96 $160,465.32
169 $160,465.32 $574.77 $0.00 $907.29 $161,947.38
170 $161,947.38 $574.77 $0.00 $915.67 $163,437.82
171 $163,437.82 $574.77 $0.00 $924.10 $164,936.69
172 $164,936.69 $574.77 $0.00 $932.58 $166,444.04
173 $166,444.04 $574.77 $0.00 $941.10 $167,959.91
174 $167,959.91 $574.77 $0.00 $949.67 $169,484.35
175 $169,484.35 $574.77 $0.00 $958.29 $171,017.41
176 $171,017.41 $574.77 $0.00 $966.96 $172,559.14
177 $172,559.14 $574.77 $0.00 $975.67 $174,109.58
178 $174,109.58 $574.77 $0.00 $984.44 $175,668.79
179 $175,668.79 $574.77 $0.00 $993.26 $177,236.82
180 $177,236.82 $574.77 $0.00 $1,002.12 $178,813.71
181 $178,813.71 $574.77 $0.00 $1,011.04 $180,399.52
182 $180,399.52 $574.77 $0.00 $1,020.01 $181,994.30
183 $181,994.30 $574.77 $0.00 $1,029.02 $183,598.09
184 $183,598.09 $574.77 $0.00 $1,038.09 $185,210.95
185 $185,210.95 $574.77 $0.00 $1,047.21 $186,832.93
186 $186,832.93 $574.77 $0.00 $1,056.38 $188,464.08
187 $188,464.08 $574.77 $0.00 $1,065.60 $190,104.45
188 $190,104.45 $574.77 $0.00 $1,074.88 $191,754.10
189 $191,754.10 $574.77 $0.00 $1,084.21 $193,413.08
190 $193,413.08 $574.77 $0.00 $1,093.59 $195,081.44
191 $195,081.44 $574.77 $0.00 $1,103.02 $196,759.23
192 $196,759.23 $574.77 $0.00 $1,112.51 $198,446.51
193 $198,446.51 $574.77 $0.00 $1,122.05 $200,143.33
194 $200,143.33 $574.77 $0.00 $1,131.64 $201,849.74
195 $201,849.74 $574.77 $0.00 $1,141.29 $203,565.80
196 $203,565.80 $574.77 $0.00 $1,150.99 $205,291.56
197 $205,291.56 $574.77 $0.00 $1,160.75 $207,027.08
198 $207,027.08 $574.77 $0.00 $1,170.56 $208,772.41
199 $208,772.41 $574.77 $0.00 $1,180.43 $210,527.61
200 $210,527.61 $574.77 $0.00 $1,190.35 $212,292.73
201 $212,292.73 $574.77 $0.00 $1,200.33 $214,067.83
202 $214,067.83 $574.77 $0.00 $1,210.37 $215,852.97
203 $215,852.97 $574.77 $0.00 $1,220.46 $217,648.20
204 $217,648.20 $574.77 $0.00 $1,230.61 $219,453.58
205 $219,453.58 $574.77 $0.00 $1,240.82 $221,269.17
206 $221,269.17 $574.77 $0.00 $1,251.09 $223,095.03
207 $223,095.03 $574.77 $0.00 $1,261.41 $224,931.21
208 $224,931.21 $574.77 $0.00 $1,271.79 $226,777.77
209 $226,777.77 $574.77 $0.00 $1,282.23 $228,634.77
210 $228,634.77 $574.77 $0.00 $1,292.73 $230,502.27
211 $230,502.27 $574.77 $0.00 $1,303.29 $232,380.33
212 $232,380.33 $574.77 $0.00 $1,313.91 $234,269.01
213 $234,269.01 $574.77 $0.00 $1,324.59 $236,168.37
214 $236,168.37 $574.77 $0.00 $1,335.33 $238,078.47
215 $238,078.47 $574.77 $0.00 $1,346.13 $239,999.37
216 $239,999.37 $574.77 $0.00 $1,356.99 $241,931.13
217 $241,931.13 $574.77 $67,385.34 $1,367.91 $176,488.47
218 $176,488.47 $574.77 $0.00 $997.89 $178,061.13
219 $178,061.13 $574.77 $0.00 $1,006.78 $179,642.68
220 $179,642.68 $574.77 $0.00 $1,015.73 $181,233.18
221 $181,233.18 $574.77 $0.00 $1,024.72 $182,832.67
222 $182,832.67 $574.77 $0.00 $1,033.76 $184,441.20
223 $184,441.20 $574.77 $0.00 $1,042.86 $186,058.83
224 $186,058.83 $574.77 $0.00 $1,052.00 $187,685.60
225 $187,685.60 $574.77 $0.00 $1,061.20 $189,321.57
226 $189,321.57 $574.77 $0.00 $1,070.45 $190,966.79
227 $190,966.79 $574.77 $0.00 $1,079.75 $192,621.31
228 $192,621.31 $574.77 $0.00 $1,089.11 $194,285.19
229 $194,285.19 $574.77 $70,754.61 $1,098.52 $125,203.87
230 $125,203.87 $574.77 $0.00 $707.92 $126,486.56
231 $126,486.56 $574.77 $0.00 $715.17 $127,776.50
232 $127,776.50 $574.77 $0.00 $722.47 $129,073.74
233 $129,073.74 $574.77 $0.00 $729.80 $130,378.31
234 $130,378.31 $574.77 $0.00 $737.18 $131,690.26
235 $131,690.26 $574.77 $0.00 $744.60 $133,009.63
236 $133,009.63 $574.77 $0.00 $752.06 $134,336.46
237 $134,336.46 $574.77 $0.00 $759.56 $135,670.79
238 $135,670.79 $574.77 $0.00 $767.10 $137,012.66
239 $137,012.66 $574.77 $0.00 $774.69 $138,362.12
240 $138,362.12 $574.77 $0.00 $782.32 $139,719.21
241 $139,719.21 $574.77 $74,292.34 $789.99 $66,791.63
242 $66,791.63 $574.77 $0.00 $377.65 $67,744.05
243 $67,744.05 $574.77 $0.00 $383.03 $68,701.85
244 $68,701.85 $574.77 $0.00 $388.45 $69,665.07
245 $69,665.07 $574.77 $0.00 $393.90 $70,633.74
246 $70,633.74 $574.77 $0.00 $399.37 $71,607.88
247 $71,607.88 $574.77 $0.00 $404.88 $72,587.53
248 $72,587.53 $574.77 $0.00 $410.42 $73,572.72
249 $73,572.72 $574.77 $0.00 $415.99 $74,563.48
250 $74,563.48 $574.77 $0.00 $421.59 $75,559.84
251 $75,559.84 $574.77 $0.00 $427.23 $76,561.84
252 $76,561.84 $574.77 $0.00 $432.89 $77,569.50
253 $77,569.50 $0.00 $78,006.95 $438.59 $1.14