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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$72,418
Monthly savings required$573

How much will it cost to send your child to Bob Jones University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $289,671.64 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $573.24 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$27,926.00
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 $573.24 $0.00 $0.00 $573.24
2 $573.24 $573.24 $0.00 $3.24 $1,149.72
3 $1,149.72 $573.24 $0.00 $6.50 $1,729.46
4 $1,729.46 $573.24 $0.00 $9.78 $2,312.48
5 $2,312.48 $573.24 $0.00 $13.08 $2,898.80
6 $2,898.80 $573.24 $0.00 $16.39 $3,488.43
7 $3,488.43 $573.24 $0.00 $19.72 $4,081.39
8 $4,081.39 $573.24 $0.00 $23.08 $4,677.71
9 $4,677.71 $573.24 $0.00 $26.45 $5,277.40
10 $5,277.40 $573.24 $0.00 $29.84 $5,880.48
11 $5,880.48 $573.24 $0.00 $33.25 $6,486.97
12 $6,486.97 $573.24 $0.00 $36.68 $7,096.89
13 $7,096.89 $573.24 $0.00 $40.13 $7,710.26
14 $7,710.26 $573.24 $0.00 $43.59 $8,327.09
15 $8,327.09 $573.24 $0.00 $47.08 $8,947.41
16 $8,947.41 $573.24 $0.00 $50.59 $9,571.24
17 $9,571.24 $573.24 $0.00 $54.12 $10,198.60
18 $10,198.60 $573.24 $0.00 $57.66 $10,829.50
19 $10,829.50 $573.24 $0.00 $61.23 $11,463.97
20 $11,463.97 $573.24 $0.00 $64.82 $12,102.03
21 $12,102.03 $573.24 $0.00 $68.43 $12,743.70
22 $12,743.70 $573.24 $0.00 $72.05 $13,388.99
23 $13,388.99 $573.24 $0.00 $75.70 $14,037.93
24 $14,037.93 $573.24 $0.00 $79.37 $14,690.54
25 $14,690.54 $573.24 $0.00 $83.06 $15,346.84
26 $15,346.84 $573.24 $0.00 $86.77 $16,006.85
27 $16,006.85 $573.24 $0.00 $90.51 $16,670.60
28 $16,670.60 $573.24 $0.00 $94.26 $17,338.10
29 $17,338.10 $573.24 $0.00 $98.03 $18,009.37
30 $18,009.37 $573.24 $0.00 $101.83 $18,684.44
31 $18,684.44 $573.24 $0.00 $105.64 $19,363.32
32 $19,363.32 $573.24 $0.00 $109.48 $20,046.04
33 $20,046.04 $573.24 $0.00 $113.34 $20,732.62
34 $20,732.62 $573.24 $0.00 $117.23 $21,423.09
35 $21,423.09 $573.24 $0.00 $121.13 $22,117.46
36 $22,117.46 $573.24 $0.00 $125.06 $22,815.76
37 $22,815.76 $573.24 $0.00 $129.00 $23,518.00
38 $23,518.00 $573.24 $0.00 $132.97 $24,224.21
39 $24,224.21 $573.24 $0.00 $136.97 $24,934.42
40 $24,934.42 $573.24 $0.00 $140.98 $25,648.64
41 $25,648.64 $573.24 $0.00 $145.02 $26,366.90
42 $26,366.90 $573.24 $0.00 $149.08 $27,089.22
43 $27,089.22 $573.24 $0.00 $153.17 $27,815.63
44 $27,815.63 $573.24 $0.00 $157.27 $28,546.14
45 $28,546.14 $573.24 $0.00 $161.40 $29,280.78
46 $29,280.78 $573.24 $0.00 $165.56 $30,019.58
47 $30,019.58 $573.24 $0.00 $169.74 $30,762.56
48 $30,762.56 $573.24 $0.00 $173.94 $31,509.74
49 $31,509.74 $573.24 $0.00 $178.16 $32,261.14
50 $32,261.14 $573.24 $0.00 $182.41 $33,016.79
51 $33,016.79 $573.24 $0.00 $186.68 $33,776.71
52 $33,776.71 $573.24 $0.00 $190.98 $34,540.93
53 $34,540.93 $573.24 $0.00 $195.30 $35,309.47
54 $35,309.47 $573.24 $0.00 $199.64 $36,082.35
55 $36,082.35 $573.24 $0.00 $204.01 $36,859.60
56 $36,859.60 $573.24 $0.00 $208.41 $37,641.25
57 $37,641.25 $573.24 $0.00 $212.83 $38,427.32
58 $38,427.32 $573.24 $0.00 $217.27 $39,217.83
59 $39,217.83 $573.24 $0.00 $221.74 $40,012.81
60 $40,012.81 $573.24 $0.00 $226.24 $40,812.29
61 $40,812.29 $573.24 $0.00 $230.76 $41,616.29
62 $41,616.29 $573.24 $0.00 $235.30 $42,424.83
63 $42,424.83 $573.24 $0.00 $239.88 $43,237.95
64 $43,237.95 $573.24 $0.00 $244.47 $44,055.66
65 $44,055.66 $573.24 $0.00 $249.10 $44,878.00
66 $44,878.00 $573.24 $0.00 $253.75 $45,704.99
67 $45,704.99 $573.24 $0.00 $258.42 $46,536.65
68 $46,536.65 $573.24 $0.00 $263.12 $47,373.01
69 $47,373.01 $573.24 $0.00 $267.85 $48,214.10
70 $48,214.10 $573.24 $0.00 $272.61 $49,059.95
71 $49,059.95 $573.24 $0.00 $277.39 $49,910.58
72 $49,910.58 $573.24 $0.00 $282.20 $50,766.02
73 $50,766.02 $573.24 $0.00 $287.04 $51,626.30
74 $51,626.30 $573.24 $0.00 $291.90 $52,491.44
75 $52,491.44 $573.24 $0.00 $296.79 $53,361.47
76 $53,361.47 $573.24 $0.00 $301.71 $54,236.42
77 $54,236.42 $573.24 $0.00 $306.66 $55,116.32
78 $55,116.32 $573.24 $0.00 $311.64 $56,001.20
79 $56,001.20 $573.24 $0.00 $316.64 $56,891.08
80 $56,891.08 $573.24 $0.00 $321.67 $57,785.99
81 $57,785.99 $573.24 $0.00 $326.73 $58,685.96
82 $58,685.96 $573.24 $0.00 $331.82 $59,591.02
83 $59,591.02 $573.24 $0.00 $336.94 $60,501.20
84 $60,501.20 $573.24 $0.00 $342.08 $61,416.52
85 $61,416.52 $573.24 $0.00 $347.26 $62,337.02
86 $62,337.02 $573.24 $0.00 $352.46 $63,262.72
87 $63,262.72 $573.24 $0.00 $357.70 $64,193.66
88 $64,193.66 $573.24 $0.00 $362.96 $65,129.86
89 $65,129.86 $573.24 $0.00 $368.25 $66,071.35
90 $66,071.35 $573.24 $0.00 $373.58 $67,018.17
91 $67,018.17 $573.24 $0.00 $378.93 $67,970.34
92 $67,970.34 $573.24 $0.00 $384.31 $68,927.89
93 $68,927.89 $573.24 $0.00 $389.73 $69,890.86
94 $69,890.86 $573.24 $0.00 $395.17 $70,859.27
95 $70,859.27 $573.24 $0.00 $400.65 $71,833.16
96 $71,833.16 $573.24 $0.00 $406.16 $72,812.56
97 $72,812.56 $573.24 $0.00 $411.69 $73,797.49
98 $73,797.49 $573.24 $0.00 $417.26 $74,787.99
99 $74,787.99 $573.24 $0.00 $422.86 $75,784.09
100 $75,784.09 $573.24 $0.00 $428.49 $76,785.82
101 $76,785.82 $573.24 $0.00 $434.16 $77,793.22
102 $77,793.22 $573.24 $0.00 $439.85 $78,806.31
103 $78,806.31 $573.24 $0.00 $445.58 $79,825.13
104 $79,825.13 $573.24 $0.00 $451.34 $80,849.71
105 $80,849.71 $573.24 $0.00 $457.14 $81,880.09
106 $81,880.09 $573.24 $0.00 $462.96 $82,916.29
107 $82,916.29 $573.24 $0.00 $468.82 $83,958.35
108 $83,958.35 $573.24 $0.00 $474.71 $85,006.30
109 $85,006.30 $573.24 $0.00 $480.64 $86,060.18
110 $86,060.18 $573.24 $0.00 $486.60 $87,120.02
111 $87,120.02 $573.24 $0.00 $492.59 $88,185.85
112 $88,185.85 $573.24 $0.00 $498.62 $89,257.71
113 $89,257.71 $573.24 $0.00 $504.68 $90,335.63
114 $90,335.63 $573.24 $0.00 $510.77 $91,419.64
115 $91,419.64 $573.24 $0.00 $516.90 $92,509.78
116 $92,509.78 $573.24 $0.00 $523.06 $93,606.08
117 $93,606.08 $573.24 $0.00 $529.26 $94,708.58
118 $94,708.58 $573.24 $0.00 $535.50 $95,817.32
119 $95,817.32 $573.24 $0.00 $541.77 $96,932.33
120 $96,932.33 $573.24 $0.00 $548.07 $98,053.64
121 $98,053.64 $573.24 $0.00 $554.41 $99,181.29
122 $99,181.29 $573.24 $0.00 $560.79 $100,315.32
123 $100,315.32 $573.24 $0.00 $567.20 $101,455.76
124 $101,455.76 $573.24 $0.00 $573.65 $102,602.65
125 $102,602.65 $573.24 $0.00 $580.13 $103,756.02
126 $103,756.02 $573.24 $0.00 $586.65 $104,915.91
127 $104,915.91 $573.24 $0.00 $593.21 $106,082.36
128 $106,082.36 $573.24 $0.00 $599.81 $107,255.41
129 $107,255.41 $573.24 $0.00 $606.44 $108,435.09
130 $108,435.09 $573.24 $0.00 $613.11 $109,621.44
131 $109,621.44 $573.24 $0.00 $619.82 $110,814.50
132 $110,814.50 $573.24 $0.00 $626.56 $112,014.30
133 $112,014.30 $573.24 $0.00 $633.35 $113,220.89
134 $113,220.89 $573.24 $0.00 $640.17 $114,434.30
135 $114,434.30 $573.24 $0.00 $647.03 $115,654.57
136 $115,654.57 $573.24 $0.00 $653.93 $116,881.74
137 $116,881.74 $573.24 $0.00 $660.87 $118,115.85
138 $118,115.85 $573.24 $0.00 $667.84 $119,356.93
139 $119,356.93 $573.24 $0.00 $674.86 $120,605.03
140 $120,605.03 $573.24 $0.00 $681.92 $121,860.19
141 $121,860.19 $573.24 $0.00 $689.02 $123,122.45
142 $123,122.45 $573.24 $0.00 $696.15 $124,391.84
143 $124,391.84 $573.24 $0.00 $703.33 $125,668.41
144 $125,668.41 $573.24 $0.00 $710.55 $126,952.20
145 $126,952.20 $573.24 $0.00 $717.81 $128,243.25
146 $128,243.25 $573.24 $0.00 $725.11 $129,541.60
147 $129,541.60 $573.24 $0.00 $732.45 $130,847.29
148 $130,847.29 $573.24 $0.00 $739.83 $132,160.36
149 $132,160.36 $573.24 $0.00 $747.25 $133,480.85
150 $133,480.85 $573.24 $0.00 $754.72 $134,808.81
151 $134,808.81 $573.24 $0.00 $762.23 $136,144.28
152 $136,144.28 $573.24 $0.00 $769.78 $137,487.30
153 $137,487.30 $573.24 $0.00 $777.37 $138,837.91
154 $138,837.91 $573.24 $0.00 $785.01 $140,196.16
155 $140,196.16 $573.24 $0.00 $792.69 $141,562.09
156 $141,562.09 $573.24 $0.00 $800.41 $142,935.74
157 $142,935.74 $573.24 $0.00 $808.18 $144,317.16
158 $144,317.16 $573.24 $0.00 $815.99 $145,706.39
159 $145,706.39 $573.24 $0.00 $823.85 $147,103.48
160 $147,103.48 $573.24 $0.00 $831.74 $148,508.46
161 $148,508.46 $573.24 $0.00 $839.69 $149,921.39
162 $149,921.39 $573.24 $0.00 $847.68 $151,342.31
163 $151,342.31 $573.24 $0.00 $855.71 $152,771.26
164 $152,771.26 $573.24 $0.00 $863.79 $154,208.29
165 $154,208.29 $573.24 $0.00 $871.92 $155,653.45
166 $155,653.45 $573.24 $0.00 $880.09 $157,106.78
167 $157,106.78 $573.24 $0.00 $888.30 $158,568.32
168 $158,568.32 $573.24 $0.00 $896.57 $160,038.13
169 $160,038.13 $573.24 $0.00 $904.88 $161,516.25
170 $161,516.25 $573.24 $0.00 $913.24 $163,002.73
171 $163,002.73 $573.24 $0.00 $921.64 $164,497.61
172 $164,497.61 $573.24 $0.00 $930.09 $166,000.94
173 $166,000.94 $573.24 $0.00 $938.59 $167,512.77
174 $167,512.77 $573.24 $0.00 $947.14 $169,033.15
175 $169,033.15 $573.24 $0.00 $955.74 $170,562.13
176 $170,562.13 $573.24 $0.00 $964.38 $172,099.75
177 $172,099.75 $573.24 $0.00 $973.08 $173,646.07
178 $173,646.07 $573.24 $0.00 $981.82 $175,201.13
179 $175,201.13 $573.24 $0.00 $990.61 $176,764.98
180 $176,764.98 $573.24 $0.00 $999.45 $178,337.67
181 $178,337.67 $573.24 $0.00 $1,008.35 $179,919.26
182 $179,919.26 $573.24 $0.00 $1,017.29 $181,509.79
183 $181,509.79 $573.24 $0.00 $1,026.28 $183,109.31
184 $183,109.31 $573.24 $0.00 $1,035.33 $184,717.88
185 $184,717.88 $573.24 $0.00 $1,044.42 $186,335.54
186 $186,335.54 $573.24 $0.00 $1,053.57 $187,962.35
187 $187,962.35 $573.24 $0.00 $1,062.77 $189,598.36
188 $189,598.36 $573.24 $0.00 $1,072.02 $191,243.62
189 $191,243.62 $573.24 $0.00 $1,081.32 $192,898.18
190 $192,898.18 $573.24 $0.00 $1,090.67 $194,562.09
191 $194,562.09 $573.24 $0.00 $1,100.08 $196,235.41
192 $196,235.41 $573.24 $0.00 $1,109.54 $197,918.19
193 $197,918.19 $573.24 $0.00 $1,119.06 $199,610.49
194 $199,610.49 $573.24 $0.00 $1,128.63 $201,312.36
195 $201,312.36 $573.24 $0.00 $1,138.25 $203,023.85
196 $203,023.85 $573.24 $0.00 $1,147.93 $204,745.02
197 $204,745.02 $573.24 $0.00 $1,157.66 $206,475.92
198 $206,475.92 $573.24 $0.00 $1,167.44 $208,216.60
199 $208,216.60 $573.24 $0.00 $1,177.29 $209,967.13
200 $209,967.13 $573.24 $0.00 $1,187.18 $211,727.55
201 $211,727.55 $573.24 $0.00 $1,197.14 $213,497.93
202 $213,497.93 $573.24 $0.00 $1,207.15 $215,278.32
203 $215,278.32 $573.24 $0.00 $1,217.21 $217,068.77
204 $217,068.77 $573.24 $0.00 $1,227.34 $218,869.35
205 $218,869.35 $573.24 $0.00 $1,237.52 $220,680.11
206 $220,680.11 $573.24 $0.00 $1,247.76 $222,501.11
207 $222,501.11 $573.24 $0.00 $1,258.05 $224,332.40
208 $224,332.40 $573.24 $0.00 $1,268.41 $226,174.05
209 $226,174.05 $573.24 $0.00 $1,278.82 $228,026.11
210 $228,026.11 $573.24 $0.00 $1,289.29 $229,888.64
211 $229,888.64 $573.24 $0.00 $1,299.82 $231,761.70
212 $231,761.70 $573.24 $0.00 $1,310.41 $233,645.35
213 $233,645.35 $573.24 $0.00 $1,321.06 $235,539.65
214 $235,539.65 $573.24 $0.00 $1,331.78 $237,444.67
215 $237,444.67 $573.24 $0.00 $1,342.55 $239,360.46
216 $239,360.46 $573.24 $0.00 $1,353.38 $241,287.08
217 $241,287.08 $573.24 $67,207.25 $1,364.27 $176,017.34
218 $176,017.34 $573.24 $0.00 $995.23 $177,585.81
219 $177,585.81 $573.24 $0.00 $1,004.10 $179,163.15
220 $179,163.15 $573.24 $0.00 $1,013.01 $180,749.40
221 $180,749.40 $573.24 $0.00 $1,021.98 $182,344.62
222 $182,344.62 $573.24 $0.00 $1,031.00 $183,948.86
223 $183,948.86 $573.24 $0.00 $1,040.07 $185,562.17
224 $185,562.17 $573.24 $0.00 $1,049.20 $187,184.61
225 $187,184.61 $573.24 $0.00 $1,058.37 $188,816.22
226 $188,816.22 $573.24 $0.00 $1,067.59 $190,457.05
227 $190,457.05 $573.24 $0.00 $1,076.87 $192,107.16
228 $192,107.16 $573.24 $0.00 $1,086.20 $193,766.60
229 $193,766.60 $573.24 $70,567.61 $1,095.58 $124,867.81
230 $124,867.81 $573.24 $0.00 $706.02 $126,147.07
231 $126,147.07 $573.24 $0.00 $713.25 $127,433.56
232 $127,433.56 $573.24 $0.00 $720.53 $128,727.33
233 $128,727.33 $573.24 $0.00 $727.84 $130,028.41
234 $130,028.41 $573.24 $0.00 $735.20 $131,336.85
235 $131,336.85 $573.24 $0.00 $742.60 $132,652.69
236 $132,652.69 $573.24 $0.00 $750.04 $133,975.97
237 $133,975.97 $573.24 $0.00 $757.52 $135,306.73
238 $135,306.73 $573.24 $0.00 $765.04 $136,645.01
239 $136,645.01 $573.24 $0.00 $772.61 $137,990.86
240 $137,990.86 $573.24 $0.00 $780.22 $139,344.32
241 $139,344.32 $573.24 $74,095.99 $787.87 $66,609.44
242 $66,609.44 $573.24 $0.00 $376.62 $67,559.30
243 $67,559.30 $573.24 $0.00 $381.99 $68,514.53
244 $68,514.53 $573.24 $0.00 $387.39 $69,475.16
245 $69,475.16 $573.24 $0.00 $392.82 $70,441.22
246 $70,441.22 $573.24 $0.00 $398.28 $71,412.74
247 $71,412.74 $573.24 $0.00 $403.78 $72,389.76
248 $72,389.76 $573.24 $0.00 $409.30 $73,372.30
249 $73,372.30 $573.24 $0.00 $414.86 $74,360.40
250 $74,360.40 $573.24 $0.00 $420.44 $75,354.08
251 $75,354.08 $573.24 $0.00 $426.06 $76,353.38
252 $76,353.38 $573.24 $0.00 $431.71 $77,358.33
253 $77,358.33 $0.00 $77,800.79 $437.40 ($5.06)