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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$85,529
Monthly savings required$677

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 $342,116.67 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $677.04 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$32,982.00
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 $677.04 $0.00 $0.00 $677.04
2 $677.04 $677.04 $0.00 $3.83 $1,357.91
3 $1,357.91 $677.04 $0.00 $7.68 $2,042.63
4 $2,042.63 $677.04 $0.00 $11.55 $2,731.22
5 $2,731.22 $677.04 $0.00 $15.44 $3,423.70
6 $3,423.70 $677.04 $0.00 $19.36 $4,120.10
7 $4,120.10 $677.04 $0.00 $23.30 $4,820.44
8 $4,820.44 $677.04 $0.00 $27.26 $5,524.74
9 $5,524.74 $677.04 $0.00 $31.24 $6,233.02
10 $6,233.02 $677.04 $0.00 $35.24 $6,945.30
11 $6,945.30 $677.04 $0.00 $39.27 $7,661.61
12 $7,661.61 $677.04 $0.00 $43.32 $8,381.97
13 $8,381.97 $677.04 $0.00 $47.39 $9,106.40
14 $9,106.40 $677.04 $0.00 $51.49 $9,834.93
15 $9,834.93 $677.04 $0.00 $55.61 $10,567.58
16 $10,567.58 $677.04 $0.00 $59.75 $11,304.37
17 $11,304.37 $677.04 $0.00 $63.92 $12,045.33
18 $12,045.33 $677.04 $0.00 $68.11 $12,790.48
19 $12,790.48 $677.04 $0.00 $72.32 $13,539.84
20 $13,539.84 $677.04 $0.00 $76.56 $14,293.44
21 $14,293.44 $677.04 $0.00 $80.82 $15,051.30
22 $15,051.30 $677.04 $0.00 $85.10 $15,813.44
23 $15,813.44 $677.04 $0.00 $89.41 $16,579.89
24 $16,579.89 $677.04 $0.00 $93.75 $17,350.68
25 $17,350.68 $677.04 $0.00 $98.10 $18,125.82
26 $18,125.82 $677.04 $0.00 $102.49 $18,905.35
27 $18,905.35 $677.04 $0.00 $106.89 $19,689.28
28 $19,689.28 $677.04 $0.00 $111.33 $20,477.65
29 $20,477.65 $677.04 $0.00 $115.78 $21,270.47
30 $21,270.47 $677.04 $0.00 $120.27 $22,067.78
31 $22,067.78 $677.04 $0.00 $124.77 $22,869.59
32 $22,869.59 $677.04 $0.00 $129.31 $23,675.94
33 $23,675.94 $677.04 $0.00 $133.87 $24,486.85
34 $24,486.85 $677.04 $0.00 $138.45 $25,302.34
35 $25,302.34 $677.04 $0.00 $143.06 $26,122.44
36 $26,122.44 $677.04 $0.00 $147.70 $26,947.18
37 $26,947.18 $677.04 $0.00 $152.36 $27,776.58
38 $27,776.58 $677.04 $0.00 $157.05 $28,610.67
39 $28,610.67 $677.04 $0.00 $161.77 $29,449.48
40 $29,449.48 $677.04 $0.00 $166.51 $30,293.03
41 $30,293.03 $677.04 $0.00 $171.28 $31,141.35
42 $31,141.35 $677.04 $0.00 $176.08 $31,994.47
43 $31,994.47 $677.04 $0.00 $180.90 $32,852.41
44 $32,852.41 $677.04 $0.00 $185.75 $33,715.20
45 $33,715.20 $677.04 $0.00 $190.63 $34,582.87
46 $34,582.87 $677.04 $0.00 $195.54 $35,455.45
47 $35,455.45 $677.04 $0.00 $200.47 $36,332.96
48 $36,332.96 $677.04 $0.00 $205.43 $37,215.43
49 $37,215.43 $677.04 $0.00 $210.42 $38,102.89
50 $38,102.89 $677.04 $0.00 $215.44 $38,995.37
51 $38,995.37 $677.04 $0.00 $220.49 $39,892.90
52 $39,892.90 $677.04 $0.00 $225.56 $40,795.50
53 $40,795.50 $677.04 $0.00 $230.66 $41,703.20
54 $41,703.20 $677.04 $0.00 $235.80 $42,616.04
55 $42,616.04 $677.04 $0.00 $240.96 $43,534.04
56 $43,534.04 $677.04 $0.00 $246.15 $44,457.23
57 $44,457.23 $677.04 $0.00 $251.37 $45,385.64
58 $45,385.64 $677.04 $0.00 $256.62 $46,319.30
59 $46,319.30 $677.04 $0.00 $261.90 $47,258.24
60 $47,258.24 $677.04 $0.00 $267.20 $48,202.48
61 $48,202.48 $677.04 $0.00 $272.54 $49,152.06
62 $49,152.06 $677.04 $0.00 $277.91 $50,107.01
63 $50,107.01 $677.04 $0.00 $283.31 $51,067.36
64 $51,067.36 $677.04 $0.00 $288.74 $52,033.14
65 $52,033.14 $677.04 $0.00 $294.20 $53,004.38
66 $53,004.38 $677.04 $0.00 $299.69 $53,981.11
67 $53,981.11 $677.04 $0.00 $305.22 $54,963.37
68 $54,963.37 $677.04 $0.00 $310.77 $55,951.18
69 $55,951.18 $677.04 $0.00 $316.36 $56,944.58
70 $56,944.58 $677.04 $0.00 $321.97 $57,943.59
71 $57,943.59 $677.04 $0.00 $327.62 $58,948.25
72 $58,948.25 $677.04 $0.00 $333.30 $59,958.59
73 $59,958.59 $677.04 $0.00 $339.01 $60,974.64
74 $60,974.64 $677.04 $0.00 $344.76 $61,996.44
75 $61,996.44 $677.04 $0.00 $350.54 $63,024.02
76 $63,024.02 $677.04 $0.00 $356.35 $64,057.41
77 $64,057.41 $677.04 $0.00 $362.19 $65,096.64
78 $65,096.64 $677.04 $0.00 $368.07 $66,141.75
79 $66,141.75 $677.04 $0.00 $373.98 $67,192.77
80 $67,192.77 $677.04 $0.00 $379.92 $68,249.73
81 $68,249.73 $677.04 $0.00 $385.89 $69,312.66
82 $69,312.66 $677.04 $0.00 $391.90 $70,381.60
83 $70,381.60 $677.04 $0.00 $397.95 $71,456.59
84 $71,456.59 $677.04 $0.00 $404.03 $72,537.66
85 $72,537.66 $677.04 $0.00 $410.14 $73,624.84
86 $73,624.84 $677.04 $0.00 $416.29 $74,718.17
87 $74,718.17 $677.04 $0.00 $422.47 $75,817.68
88 $75,817.68 $677.04 $0.00 $428.68 $76,923.40
89 $76,923.40 $677.04 $0.00 $434.94 $78,035.38
90 $78,035.38 $677.04 $0.00 $441.22 $79,153.64
91 $79,153.64 $677.04 $0.00 $447.55 $80,278.23
92 $80,278.23 $677.04 $0.00 $453.90 $81,409.17
93 $81,409.17 $677.04 $0.00 $460.30 $82,546.51
94 $82,546.51 $677.04 $0.00 $466.73 $83,690.28
95 $83,690.28 $677.04 $0.00 $473.20 $84,840.52
96 $84,840.52 $677.04 $0.00 $479.70 $85,997.26
97 $85,997.26 $677.04 $0.00 $486.24 $87,160.54
98 $87,160.54 $677.04 $0.00 $492.82 $88,330.40
99 $88,330.40 $677.04 $0.00 $499.43 $89,506.87
100 $89,506.87 $677.04 $0.00 $506.08 $90,689.99
101 $90,689.99 $677.04 $0.00 $512.77 $91,879.80
102 $91,879.80 $677.04 $0.00 $519.50 $93,076.34
103 $93,076.34 $677.04 $0.00 $526.27 $94,279.65
104 $94,279.65 $677.04 $0.00 $533.07 $95,489.76
105 $95,489.76 $677.04 $0.00 $539.91 $96,706.71
106 $96,706.71 $677.04 $0.00 $546.79 $97,930.54
107 $97,930.54 $677.04 $0.00 $553.71 $99,161.29
108 $99,161.29 $677.04 $0.00 $560.67 $100,399.00
109 $100,399.00 $677.04 $0.00 $567.67 $101,643.71
110 $101,643.71 $677.04 $0.00 $574.71 $102,895.46
111 $102,895.46 $677.04 $0.00 $581.79 $104,154.29
112 $104,154.29 $677.04 $0.00 $588.90 $105,420.23
113 $105,420.23 $677.04 $0.00 $596.06 $106,693.33
114 $106,693.33 $677.04 $0.00 $603.26 $107,973.63
115 $107,973.63 $677.04 $0.00 $610.50 $109,261.17
116 $109,261.17 $677.04 $0.00 $617.78 $110,555.99
117 $110,555.99 $677.04 $0.00 $625.10 $111,858.13
118 $111,858.13 $677.04 $0.00 $632.46 $113,167.63
119 $113,167.63 $677.04 $0.00 $639.87 $114,484.54
120 $114,484.54 $677.04 $0.00 $647.31 $115,808.89
121 $115,808.89 $677.04 $0.00 $654.80 $117,140.73
122 $117,140.73 $677.04 $0.00 $662.33 $118,480.10
123 $118,480.10 $677.04 $0.00 $669.90 $119,827.04
124 $119,827.04 $677.04 $0.00 $677.52 $121,181.60
125 $121,181.60 $677.04 $0.00 $685.18 $122,543.82
126 $122,543.82 $677.04 $0.00 $692.88 $123,913.74
127 $123,913.74 $677.04 $0.00 $700.63 $125,291.41
128 $125,291.41 $677.04 $0.00 $708.42 $126,676.87
129 $126,676.87 $677.04 $0.00 $716.25 $128,070.16
130 $128,070.16 $677.04 $0.00 $724.13 $129,471.33
131 $129,471.33 $677.04 $0.00 $732.05 $130,880.42
132 $130,880.42 $677.04 $0.00 $740.02 $132,297.48
133 $132,297.48 $677.04 $0.00 $748.03 $133,722.55
134 $133,722.55 $677.04 $0.00 $756.09 $135,155.68
135 $135,155.68 $677.04 $0.00 $764.19 $136,596.91
136 $136,596.91 $677.04 $0.00 $772.34 $138,046.29
137 $138,046.29 $677.04 $0.00 $780.53 $139,503.86
138 $139,503.86 $677.04 $0.00 $788.78 $140,969.68
139 $140,969.68 $677.04 $0.00 $797.06 $142,443.78
140 $142,443.78 $677.04 $0.00 $805.40 $143,926.22
141 $143,926.22 $677.04 $0.00 $813.78 $145,417.04
142 $145,417.04 $677.04 $0.00 $822.21 $146,916.29
143 $146,916.29 $677.04 $0.00 $830.69 $148,424.02
144 $148,424.02 $677.04 $0.00 $839.21 $149,940.27
145 $149,940.27 $677.04 $0.00 $847.78 $151,465.09
146 $151,465.09 $677.04 $0.00 $856.41 $152,998.54
147 $152,998.54 $677.04 $0.00 $865.08 $154,540.66
148 $154,540.66 $677.04 $0.00 $873.80 $156,091.50
149 $156,091.50 $677.04 $0.00 $882.56 $157,651.10
150 $157,651.10 $677.04 $0.00 $891.38 $159,219.52
151 $159,219.52 $677.04 $0.00 $900.25 $160,796.81
152 $160,796.81 $677.04 $0.00 $909.17 $162,383.02
153 $162,383.02 $677.04 $0.00 $918.14 $163,978.20
154 $163,978.20 $677.04 $0.00 $927.16 $165,582.40
155 $165,582.40 $677.04 $0.00 $936.23 $167,195.67
156 $167,195.67 $677.04 $0.00 $945.35 $168,818.06
157 $168,818.06 $677.04 $0.00 $954.52 $170,449.62
158 $170,449.62 $677.04 $0.00 $963.75 $172,090.41
159 $172,090.41 $677.04 $0.00 $973.02 $173,740.47
160 $173,740.47 $677.04 $0.00 $982.35 $175,399.86
161 $175,399.86 $677.04 $0.00 $991.74 $177,068.64
162 $177,068.64 $677.04 $0.00 $1,001.17 $178,746.85
163 $178,746.85 $677.04 $0.00 $1,010.66 $180,434.55
164 $180,434.55 $677.04 $0.00 $1,020.20 $182,131.79
165 $182,131.79 $677.04 $0.00 $1,029.80 $183,838.63
166 $183,838.63 $677.04 $0.00 $1,039.45 $185,555.12
167 $185,555.12 $677.04 $0.00 $1,049.16 $187,281.32
168 $187,281.32 $677.04 $0.00 $1,058.92 $189,017.28
169 $189,017.28 $677.04 $0.00 $1,068.73 $190,763.05
170 $190,763.05 $677.04 $0.00 $1,078.60 $192,518.69
171 $192,518.69 $677.04 $0.00 $1,088.53 $194,284.26
172 $194,284.26 $677.04 $0.00 $1,098.51 $196,059.81
173 $196,059.81 $677.04 $0.00 $1,108.55 $197,845.40
174 $197,845.40 $677.04 $0.00 $1,118.65 $199,641.09
175 $199,641.09 $677.04 $0.00 $1,128.80 $201,446.93
176 $201,446.93 $677.04 $0.00 $1,139.01 $203,262.98
177 $203,262.98 $677.04 $0.00 $1,149.28 $205,089.30
178 $205,089.30 $677.04 $0.00 $1,159.60 $206,925.94
179 $206,925.94 $677.04 $0.00 $1,169.99 $208,772.97
180 $208,772.97 $677.04 $0.00 $1,180.43 $210,630.44
181 $210,630.44 $677.04 $0.00 $1,190.94 $212,498.42
182 $212,498.42 $677.04 $0.00 $1,201.50 $214,376.96
183 $214,376.96 $677.04 $0.00 $1,212.12 $216,266.12
184 $216,266.12 $677.04 $0.00 $1,222.80 $218,165.96
185 $218,165.96 $677.04 $0.00 $1,233.54 $220,076.54
186 $220,076.54 $677.04 $0.00 $1,244.34 $221,997.92
187 $221,997.92 $677.04 $0.00 $1,255.21 $223,930.17
188 $223,930.17 $677.04 $0.00 $1,266.13 $225,873.34
189 $225,873.34 $677.04 $0.00 $1,277.12 $227,827.50
190 $227,827.50 $677.04 $0.00 $1,288.17 $229,792.71
191 $229,792.71 $677.04 $0.00 $1,299.28 $231,769.03
192 $231,769.03 $677.04 $0.00 $1,310.46 $233,756.53
193 $233,756.53 $677.04 $0.00 $1,321.69 $235,755.26
194 $235,755.26 $677.04 $0.00 $1,332.99 $237,765.29
195 $237,765.29 $677.04 $0.00 $1,344.36 $239,786.69
196 $239,786.69 $677.04 $0.00 $1,355.79 $241,819.52
197 $241,819.52 $677.04 $0.00 $1,367.28 $243,863.84
198 $243,863.84 $677.04 $0.00 $1,378.84 $245,919.72
199 $245,919.72 $677.04 $0.00 $1,390.47 $247,987.23
200 $247,987.23 $677.04 $0.00 $1,402.16 $250,066.43
201 $250,066.43 $677.04 $0.00 $1,413.91 $252,157.38
202 $252,157.38 $677.04 $0.00 $1,425.73 $254,260.15
203 $254,260.15 $677.04 $0.00 $1,437.62 $256,374.81
204 $256,374.81 $677.04 $0.00 $1,449.58 $258,501.43
205 $258,501.43 $677.04 $0.00 $1,461.60 $260,640.07
206 $260,640.07 $677.04 $0.00 $1,473.70 $262,790.81
207 $262,790.81 $677.04 $0.00 $1,485.86 $264,953.71
208 $264,953.71 $677.04 $0.00 $1,498.09 $267,128.84
209 $267,128.84 $677.04 $0.00 $1,510.39 $269,316.27
210 $269,316.27 $677.04 $0.00 $1,522.75 $271,516.06
211 $271,516.06 $677.04 $0.00 $1,535.19 $273,728.29
212 $273,728.29 $677.04 $0.00 $1,547.70 $275,953.03
213 $275,953.03 $677.04 $0.00 $1,560.28 $278,190.35
214 $278,190.35 $677.04 $0.00 $1,572.93 $280,440.32
215 $280,440.32 $677.04 $0.00 $1,585.65 $282,703.01
216 $282,703.01 $677.04 $0.00 $1,598.44 $284,978.49
217 $284,978.49 $677.04 $79,375.12 $1,611.31 $207,891.72
218 $207,891.72 $677.04 $0.00 $1,175.45 $209,744.21
219 $209,744.21 $677.04 $0.00 $1,185.92 $211,607.17
220 $211,607.17 $677.04 $0.00 $1,196.46 $213,480.67
221 $213,480.67 $677.04 $0.00 $1,207.05 $215,364.76
222 $215,364.76 $677.04 $0.00 $1,217.70 $217,259.50
223 $217,259.50 $677.04 $0.00 $1,228.42 $219,164.96
224 $219,164.96 $677.04 $0.00 $1,239.19 $221,081.19
225 $221,081.19 $677.04 $0.00 $1,250.03 $223,008.26
226 $223,008.26 $677.04 $0.00 $1,260.92 $224,946.22
227 $224,946.22 $677.04 $0.00 $1,271.88 $226,895.14
228 $226,895.14 $677.04 $0.00 $1,282.90 $228,855.08
229 $228,855.08 $677.04 $83,343.87 $1,293.98 $147,482.23
230 $147,482.23 $677.04 $0.00 $833.89 $148,993.16
231 $148,993.16 $677.04 $0.00 $842.43 $150,512.63
232 $150,512.63 $677.04 $0.00 $851.02 $152,040.69
233 $152,040.69 $677.04 $0.00 $859.66 $153,577.39
234 $153,577.39 $677.04 $0.00 $868.35 $155,122.78
235 $155,122.78 $677.04 $0.00 $877.09 $156,676.91
236 $156,676.91 $677.04 $0.00 $885.87 $158,239.82
237 $158,239.82 $677.04 $0.00 $894.71 $159,811.57
238 $159,811.57 $677.04 $0.00 $903.60 $161,392.21
239 $161,392.21 $677.04 $0.00 $912.54 $162,981.79
240 $162,981.79 $677.04 $0.00 $921.52 $164,580.35
241 $164,580.35 $677.04 $87,511.06 $930.56 $78,676.89
242 $78,676.89 $677.04 $0.00 $444.85 $79,798.78
243 $79,798.78 $677.04 $0.00 $451.19 $80,927.01
244 $80,927.01 $677.04 $0.00 $457.57 $82,061.62
245 $82,061.62 $677.04 $0.00 $463.99 $83,202.65
246 $83,202.65 $677.04 $0.00 $470.44 $84,350.13
247 $84,350.13 $677.04 $0.00 $476.93 $85,504.10
248 $85,504.10 $677.04 $0.00 $483.45 $86,664.59
249 $86,664.59 $677.04 $0.00 $490.01 $87,831.64
250 $87,831.64 $677.04 $0.00 $496.61 $89,005.29
251 $89,005.29 $677.04 $0.00 $503.25 $90,185.58
252 $90,185.58 $677.04 $0.00 $509.92 $91,372.54
253 $91,372.54 $0.00 $91,886.62 $516.63 $2.55