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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$67,294
Monthly savings required$533

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 $269,174.93 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $532.70 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$25,950.00
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 $532.70 $0.00 $0.00 $532.70
2 $532.70 $532.70 $0.00 $3.01 $1,068.41
3 $1,068.41 $532.70 $0.00 $6.04 $1,607.15
4 $1,607.15 $532.70 $0.00 $9.09 $2,148.94
5 $2,148.94 $532.70 $0.00 $12.15 $2,693.79
6 $2,693.79 $532.70 $0.00 $15.23 $3,241.72
7 $3,241.72 $532.70 $0.00 $18.33 $3,792.75
8 $3,792.75 $532.70 $0.00 $21.44 $4,346.89
9 $4,346.89 $532.70 $0.00 $24.58 $4,904.17
10 $4,904.17 $532.70 $0.00 $27.73 $5,464.60
11 $5,464.60 $532.70 $0.00 $30.90 $6,028.20
12 $6,028.20 $532.70 $0.00 $34.08 $6,594.98
13 $6,594.98 $532.70 $0.00 $37.29 $7,164.97
14 $7,164.97 $532.70 $0.00 $40.51 $7,738.18
15 $7,738.18 $532.70 $0.00 $43.75 $8,314.63
16 $8,314.63 $532.70 $0.00 $47.01 $8,894.34
17 $8,894.34 $532.70 $0.00 $50.29 $9,477.33
18 $9,477.33 $532.70 $0.00 $53.59 $10,063.62
19 $10,063.62 $532.70 $0.00 $56.90 $10,653.22
20 $10,653.22 $532.70 $0.00 $60.23 $11,246.15
21 $11,246.15 $532.70 $0.00 $63.59 $11,842.44
22 $11,842.44 $532.70 $0.00 $66.96 $12,442.10
23 $12,442.10 $532.70 $0.00 $70.35 $13,045.15
24 $13,045.15 $532.70 $0.00 $73.76 $13,651.61
25 $13,651.61 $532.70 $0.00 $77.19 $14,261.50
26 $14,261.50 $532.70 $0.00 $80.64 $14,874.84
27 $14,874.84 $532.70 $0.00 $84.10 $15,491.64
28 $15,491.64 $532.70 $0.00 $87.59 $16,111.93
29 $16,111.93 $532.70 $0.00 $91.10 $16,735.73
30 $16,735.73 $532.70 $0.00 $94.63 $17,363.06
31 $17,363.06 $532.70 $0.00 $98.17 $17,993.93
32 $17,993.93 $532.70 $0.00 $101.74 $18,628.37
33 $18,628.37 $532.70 $0.00 $105.33 $19,266.40
34 $19,266.40 $532.70 $0.00 $108.94 $19,908.04
35 $19,908.04 $532.70 $0.00 $112.56 $20,553.30
36 $20,553.30 $532.70 $0.00 $116.21 $21,202.21
37 $21,202.21 $532.70 $0.00 $119.88 $21,854.79
38 $21,854.79 $532.70 $0.00 $123.57 $22,511.06
39 $22,511.06 $532.70 $0.00 $127.28 $23,171.04
40 $23,171.04 $532.70 $0.00 $131.01 $23,834.75
41 $23,834.75 $532.70 $0.00 $134.77 $24,502.22
42 $24,502.22 $532.70 $0.00 $138.54 $25,173.46
43 $25,173.46 $532.70 $0.00 $142.33 $25,848.49
44 $25,848.49 $532.70 $0.00 $146.15 $26,527.34
45 $26,527.34 $532.70 $0.00 $149.99 $27,210.03
46 $27,210.03 $532.70 $0.00 $153.85 $27,896.58
47 $27,896.58 $532.70 $0.00 $157.73 $28,587.01
48 $28,587.01 $532.70 $0.00 $161.64 $29,281.35
49 $29,281.35 $532.70 $0.00 $165.56 $29,979.61
50 $29,979.61 $532.70 $0.00 $169.51 $30,681.82
51 $30,681.82 $532.70 $0.00 $173.48 $31,388.00
52 $31,388.00 $532.70 $0.00 $177.47 $32,098.17
53 $32,098.17 $532.70 $0.00 $181.49 $32,812.36
54 $32,812.36 $532.70 $0.00 $185.53 $33,530.59
55 $33,530.59 $532.70 $0.00 $189.59 $34,252.88
56 $34,252.88 $532.70 $0.00 $193.67 $34,979.25
57 $34,979.25 $532.70 $0.00 $197.78 $35,709.73
58 $35,709.73 $532.70 $0.00 $201.91 $36,444.34
59 $36,444.34 $532.70 $0.00 $206.06 $37,183.10
60 $37,183.10 $532.70 $0.00 $210.24 $37,926.04
61 $37,926.04 $532.70 $0.00 $214.44 $38,673.18
62 $38,673.18 $532.70 $0.00 $218.66 $39,424.54
63 $39,424.54 $532.70 $0.00 $222.91 $40,180.15
64 $40,180.15 $532.70 $0.00 $227.18 $40,940.03
65 $40,940.03 $532.70 $0.00 $231.48 $41,704.21
66 $41,704.21 $532.70 $0.00 $235.80 $42,472.71
67 $42,472.71 $532.70 $0.00 $240.15 $43,245.56
68 $43,245.56 $532.70 $0.00 $244.52 $44,022.78
69 $44,022.78 $532.70 $0.00 $248.91 $44,804.39
70 $44,804.39 $532.70 $0.00 $253.33 $45,590.42
71 $45,590.42 $532.70 $0.00 $257.77 $46,380.89
72 $46,380.89 $532.70 $0.00 $262.24 $47,175.83
73 $47,175.83 $532.70 $0.00 $266.74 $47,975.27
74 $47,975.27 $532.70 $0.00 $271.26 $48,779.23
75 $48,779.23 $532.70 $0.00 $275.80 $49,587.73
76 $49,587.73 $532.70 $0.00 $280.38 $50,400.81
77 $50,400.81 $532.70 $0.00 $284.97 $51,218.48
78 $51,218.48 $532.70 $0.00 $289.60 $52,040.78
79 $52,040.78 $532.70 $0.00 $294.25 $52,867.73
80 $52,867.73 $532.70 $0.00 $298.92 $53,699.35
81 $53,699.35 $532.70 $0.00 $303.62 $54,535.67
82 $54,535.67 $532.70 $0.00 $308.35 $55,376.72
83 $55,376.72 $532.70 $0.00 $313.11 $56,222.53
84 $56,222.53 $532.70 $0.00 $317.89 $57,073.12
85 $57,073.12 $532.70 $0.00 $322.70 $57,928.52
86 $57,928.52 $532.70 $0.00 $327.54 $58,788.76
87 $58,788.76 $532.70 $0.00 $332.40 $59,653.86
88 $59,653.86 $532.70 $0.00 $337.29 $60,523.85
89 $60,523.85 $532.70 $0.00 $342.21 $61,398.76
90 $61,398.76 $532.70 $0.00 $347.16 $62,278.62
91 $62,278.62 $532.70 $0.00 $352.13 $63,163.45
92 $63,163.45 $532.70 $0.00 $357.14 $64,053.29
93 $64,053.29 $532.70 $0.00 $362.17 $64,948.16
94 $64,948.16 $532.70 $0.00 $367.23 $65,848.09
95 $65,848.09 $532.70 $0.00 $372.31 $66,753.10
96 $66,753.10 $532.70 $0.00 $377.43 $67,663.23
97 $67,663.23 $532.70 $0.00 $382.58 $68,578.51
98 $68,578.51 $532.70 $0.00 $387.75 $69,498.96
99 $69,498.96 $532.70 $0.00 $392.96 $70,424.62
100 $70,424.62 $532.70 $0.00 $398.19 $71,355.51
101 $71,355.51 $532.70 $0.00 $403.45 $72,291.66
102 $72,291.66 $532.70 $0.00 $408.75 $73,233.11
103 $73,233.11 $532.70 $0.00 $414.07 $74,179.88
104 $74,179.88 $532.70 $0.00 $419.42 $75,132.00
105 $75,132.00 $532.70 $0.00 $424.81 $76,089.51
106 $76,089.51 $532.70 $0.00 $430.22 $77,052.43
107 $77,052.43 $532.70 $0.00 $435.67 $78,020.80
108 $78,020.80 $532.70 $0.00 $441.14 $78,994.64
109 $78,994.64 $532.70 $0.00 $446.65 $79,973.99
110 $79,973.99 $532.70 $0.00 $452.18 $80,958.87
111 $80,958.87 $532.70 $0.00 $457.75 $81,949.32
112 $81,949.32 $532.70 $0.00 $463.35 $82,945.37
113 $82,945.37 $532.70 $0.00 $468.99 $83,947.06
114 $83,947.06 $532.70 $0.00 $474.65 $84,954.41
115 $84,954.41 $532.70 $0.00 $480.34 $85,967.45
116 $85,967.45 $532.70 $0.00 $486.07 $86,986.22
117 $86,986.22 $532.70 $0.00 $491.83 $88,010.75
118 $88,010.75 $532.70 $0.00 $497.63 $89,041.08
119 $89,041.08 $532.70 $0.00 $503.45 $90,077.23
120 $90,077.23 $532.70 $0.00 $509.31 $91,119.24
121 $91,119.24 $532.70 $0.00 $515.20 $92,167.14
122 $92,167.14 $532.70 $0.00 $521.13 $93,220.97
123 $93,220.97 $532.70 $0.00 $527.08 $94,280.75
124 $94,280.75 $532.70 $0.00 $533.08 $95,346.53
125 $95,346.53 $532.70 $0.00 $539.10 $96,418.33
126 $96,418.33 $532.70 $0.00 $545.16 $97,496.19
127 $97,496.19 $532.70 $0.00 $551.26 $98,580.15
128 $98,580.15 $532.70 $0.00 $557.39 $99,670.24
129 $99,670.24 $532.70 $0.00 $563.55 $100,766.49
130 $100,766.49 $532.70 $0.00 $569.75 $101,868.94
131 $101,868.94 $532.70 $0.00 $575.98 $102,977.62
132 $102,977.62 $532.70 $0.00 $582.25 $104,092.57
133 $104,092.57 $532.70 $0.00 $588.55 $105,213.82
134 $105,213.82 $532.70 $0.00 $594.89 $106,341.41
135 $106,341.41 $532.70 $0.00 $601.27 $107,475.38
136 $107,475.38 $532.70 $0.00 $607.68 $108,615.76
137 $108,615.76 $532.70 $0.00 $614.13 $109,762.59
138 $109,762.59 $532.70 $0.00 $620.61 $110,915.90
139 $110,915.90 $532.70 $0.00 $627.13 $112,075.73
140 $112,075.73 $532.70 $0.00 $633.69 $113,242.12
141 $113,242.12 $532.70 $0.00 $640.29 $114,415.11
142 $114,415.11 $532.70 $0.00 $646.92 $115,594.73
143 $115,594.73 $532.70 $0.00 $653.59 $116,781.02
144 $116,781.02 $532.70 $0.00 $660.30 $117,974.02
145 $117,974.02 $532.70 $0.00 $667.04 $119,173.76
146 $119,173.76 $532.70 $0.00 $673.83 $120,380.29
147 $120,380.29 $532.70 $0.00 $680.65 $121,593.64
148 $121,593.64 $532.70 $0.00 $687.51 $122,813.85
149 $122,813.85 $532.70 $0.00 $694.41 $124,040.96
150 $124,040.96 $532.70 $0.00 $701.35 $125,275.01
151 $125,275.01 $532.70 $0.00 $708.32 $126,516.03
152 $126,516.03 $532.70 $0.00 $715.34 $127,764.07
153 $127,764.07 $532.70 $0.00 $722.40 $129,019.17
154 $129,019.17 $532.70 $0.00 $729.49 $130,281.36
155 $130,281.36 $532.70 $0.00 $736.63 $131,550.69
156 $131,550.69 $532.70 $0.00 $743.81 $132,827.20
157 $132,827.20 $532.70 $0.00 $751.02 $134,110.92
158 $134,110.92 $532.70 $0.00 $758.28 $135,401.90
159 $135,401.90 $532.70 $0.00 $765.58 $136,700.18
160 $136,700.18 $532.70 $0.00 $772.92 $138,005.80
161 $138,005.80 $532.70 $0.00 $780.30 $139,318.80
162 $139,318.80 $532.70 $0.00 $787.73 $140,639.23
163 $140,639.23 $532.70 $0.00 $795.19 $141,967.12
164 $141,967.12 $532.70 $0.00 $802.70 $143,302.52
165 $143,302.52 $532.70 $0.00 $810.25 $144,645.47
166 $144,645.47 $532.70 $0.00 $817.85 $145,996.02
167 $145,996.02 $532.70 $0.00 $825.48 $147,354.20
168 $147,354.20 $532.70 $0.00 $833.16 $148,720.06
169 $148,720.06 $532.70 $0.00 $840.88 $150,093.64
170 $150,093.64 $532.70 $0.00 $848.65 $151,474.99
171 $151,474.99 $532.70 $0.00 $856.46 $152,864.15
172 $152,864.15 $532.70 $0.00 $864.32 $154,261.17
173 $154,261.17 $532.70 $0.00 $872.22 $155,666.09
174 $155,666.09 $532.70 $0.00 $880.16 $157,078.95
175 $157,078.95 $532.70 $0.00 $888.15 $158,499.80
176 $158,499.80 $532.70 $0.00 $896.18 $159,928.68
177 $159,928.68 $532.70 $0.00 $904.26 $161,365.64
178 $161,365.64 $532.70 $0.00 $912.38 $162,810.72
179 $162,810.72 $532.70 $0.00 $920.56 $164,263.98
180 $164,263.98 $532.70 $0.00 $928.77 $165,725.45
181 $165,725.45 $532.70 $0.00 $937.04 $167,195.19
182 $167,195.19 $532.70 $0.00 $945.35 $168,673.24
183 $168,673.24 $532.70 $0.00 $953.70 $170,159.64
184 $170,159.64 $532.70 $0.00 $962.11 $171,654.45
185 $171,654.45 $532.70 $0.00 $970.56 $173,157.71
186 $173,157.71 $532.70 $0.00 $979.06 $174,669.47
187 $174,669.47 $532.70 $0.00 $987.61 $176,189.78
188 $176,189.78 $532.70 $0.00 $996.20 $177,718.68
189 $177,718.68 $532.70 $0.00 $1,004.85 $179,256.23
190 $179,256.23 $532.70 $0.00 $1,013.54 $180,802.47
191 $180,802.47 $532.70 $0.00 $1,022.28 $182,357.45
192 $182,357.45 $532.70 $0.00 $1,031.08 $183,921.23
193 $183,921.23 $532.70 $0.00 $1,039.92 $185,493.85
194 $185,493.85 $532.70 $0.00 $1,048.81 $187,075.36
195 $187,075.36 $532.70 $0.00 $1,057.75 $188,665.81
196 $188,665.81 $532.70 $0.00 $1,066.74 $190,265.25
197 $190,265.25 $532.70 $0.00 $1,075.79 $191,873.74
198 $191,873.74 $532.70 $0.00 $1,084.88 $193,491.32
199 $193,491.32 $532.70 $0.00 $1,094.03 $195,118.05
200 $195,118.05 $532.70 $0.00 $1,103.23 $196,753.98
201 $196,753.98 $532.70 $0.00 $1,112.48 $198,399.16
202 $198,399.16 $532.70 $0.00 $1,121.78 $200,053.64
203 $200,053.64 $532.70 $0.00 $1,131.13 $201,717.47
204 $201,717.47 $532.70 $0.00 $1,140.54 $203,390.71
205 $203,390.71 $532.70 $0.00 $1,150.00 $205,073.41
206 $205,073.41 $532.70 $0.00 $1,159.51 $206,765.62
207 $206,765.62 $532.70 $0.00 $1,169.08 $208,467.40
208 $208,467.40 $532.70 $0.00 $1,178.70 $210,178.80
209 $210,178.80 $532.70 $0.00 $1,188.38 $211,899.88
210 $211,899.88 $532.70 $0.00 $1,198.11 $213,630.69
211 $213,630.69 $532.70 $0.00 $1,207.90 $215,371.29
212 $215,371.29 $532.70 $0.00 $1,217.74 $217,121.73
213 $217,121.73 $532.70 $0.00 $1,227.64 $218,882.07
214 $218,882.07 $532.70 $0.00 $1,237.59 $220,652.36
215 $220,652.36 $532.70 $0.00 $1,247.60 $222,432.66
216 $222,432.66 $532.70 $0.00 $1,257.67 $224,223.03
217 $224,223.03 $532.70 $62,451.77 $1,267.79 $163,571.75
218 $163,571.75 $532.70 $0.00 $924.86 $165,029.31
219 $165,029.31 $532.70 $0.00 $933.10 $166,495.11
220 $166,495.11 $532.70 $0.00 $941.39 $167,969.20
221 $167,969.20 $532.70 $0.00 $949.72 $169,451.62
222 $169,451.62 $532.70 $0.00 $958.10 $170,942.42
223 $170,942.42 $532.70 $0.00 $966.53 $172,441.65
224 $172,441.65 $532.70 $0.00 $975.01 $173,949.36
225 $173,949.36 $532.70 $0.00 $983.53 $175,465.59
226 $175,465.59 $532.70 $0.00 $992.11 $176,990.40
227 $176,990.40 $532.70 $0.00 $1,000.73 $178,523.83
228 $178,523.83 $532.70 $0.00 $1,009.40 $180,065.93
229 $180,065.93 $532.70 $65,574.36 $1,018.12 $116,042.39
230 $116,042.39 $532.70 $0.00 $656.12 $117,231.21
231 $117,231.21 $532.70 $0.00 $662.84 $118,426.75
232 $118,426.75 $532.70 $0.00 $669.60 $119,629.05
233 $119,629.05 $532.70 $0.00 $676.40 $120,838.15
234 $120,838.15 $532.70 $0.00 $683.24 $122,054.09
235 $122,054.09 $532.70 $0.00 $690.11 $123,276.90
236 $123,276.90 $532.70 $0.00 $697.03 $124,506.63
237 $124,506.63 $532.70 $0.00 $703.98 $125,743.31
238 $125,743.31 $532.70 $0.00 $710.97 $126,986.98
239 $126,986.98 $532.70 $0.00 $718.00 $128,237.68
240 $128,237.68 $532.70 $0.00 $725.07 $129,495.45
241 $129,495.45 $532.70 $68,853.08 $732.19 $61,907.26
242 $61,907.26 $532.70 $0.00 $350.03 $62,789.99
243 $62,789.99 $532.70 $0.00 $355.02 $63,677.71
244 $63,677.71 $532.70 $0.00 $360.04 $64,570.45
245 $64,570.45 $532.70 $0.00 $365.09 $65,468.24
246 $65,468.24 $532.70 $0.00 $370.17 $66,371.11
247 $66,371.11 $532.70 $0.00 $375.27 $67,279.08
248 $67,279.08 $532.70 $0.00 $380.41 $68,192.19
249 $68,192.19 $532.70 $0.00 $385.57 $69,110.46
250 $69,110.46 $532.70 $0.00 $390.76 $70,033.92
251 $70,033.92 $532.70 $0.00 $395.98 $70,962.60
252 $70,962.60 $532.70 $0.00 $401.23 $71,896.53
253 $71,896.53 $0.00 $72,295.73 $406.51 $7.31