Savings Plan and Future Cost Estimation for Claflin University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$87,329
Monthly savings required$691

How much will it cost to send your child to Claflin University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $349,315.41 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $691.28 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$33,676.00
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 $691.28 $0.00 $0.00 $691.28
2 $691.28 $691.28 $0.00 $3.91 $1,386.47
3 $1,386.47 $691.28 $0.00 $7.84 $2,085.59
4 $2,085.59 $691.28 $0.00 $11.79 $2,788.66
5 $2,788.66 $691.28 $0.00 $15.77 $3,495.71
6 $3,495.71 $691.28 $0.00 $19.77 $4,206.76
7 $4,206.76 $691.28 $0.00 $23.79 $4,921.83
8 $4,921.83 $691.28 $0.00 $27.83 $5,640.94
9 $5,640.94 $691.28 $0.00 $31.89 $6,364.11
10 $6,364.11 $691.28 $0.00 $35.98 $7,091.37
11 $7,091.37 $691.28 $0.00 $40.10 $7,822.75
12 $7,822.75 $691.28 $0.00 $44.23 $8,558.26
13 $8,558.26 $691.28 $0.00 $48.39 $9,297.93
14 $9,297.93 $691.28 $0.00 $52.57 $10,041.78
15 $10,041.78 $691.28 $0.00 $56.78 $10,789.84
16 $10,789.84 $691.28 $0.00 $61.01 $11,542.13
17 $11,542.13 $691.28 $0.00 $65.26 $12,298.67
18 $12,298.67 $691.28 $0.00 $69.54 $13,059.49
19 $13,059.49 $691.28 $0.00 $73.84 $13,824.61
20 $13,824.61 $691.28 $0.00 $78.17 $14,594.06
21 $14,594.06 $691.28 $0.00 $82.52 $15,367.86
22 $15,367.86 $691.28 $0.00 $86.89 $16,146.03
23 $16,146.03 $691.28 $0.00 $91.29 $16,928.60
24 $16,928.60 $691.28 $0.00 $95.72 $17,715.60
25 $17,715.60 $691.28 $0.00 $100.17 $18,507.05
26 $18,507.05 $691.28 $0.00 $104.64 $19,302.97
27 $19,302.97 $691.28 $0.00 $109.14 $20,103.39
28 $20,103.39 $691.28 $0.00 $113.67 $20,908.34
29 $20,908.34 $691.28 $0.00 $118.22 $21,717.84
30 $21,717.84 $691.28 $0.00 $122.80 $22,531.92
31 $22,531.92 $691.28 $0.00 $127.40 $23,350.60
32 $23,350.60 $691.28 $0.00 $132.03 $24,173.91
33 $24,173.91 $691.28 $0.00 $136.68 $25,001.87
34 $25,001.87 $691.28 $0.00 $141.36 $25,834.51
35 $25,834.51 $691.28 $0.00 $146.07 $26,671.86
36 $26,671.86 $691.28 $0.00 $150.81 $27,513.95
37 $27,513.95 $691.28 $0.00 $155.57 $28,360.80
38 $28,360.80 $691.28 $0.00 $160.36 $29,212.44
39 $29,212.44 $691.28 $0.00 $165.17 $30,068.89
40 $30,068.89 $691.28 $0.00 $170.01 $30,930.18
41 $30,930.18 $691.28 $0.00 $174.88 $31,796.34
42 $31,796.34 $691.28 $0.00 $179.78 $32,667.40
43 $32,667.40 $691.28 $0.00 $184.71 $33,543.39
44 $33,543.39 $691.28 $0.00 $189.66 $34,424.33
45 $34,424.33 $691.28 $0.00 $194.64 $35,310.25
46 $35,310.25 $691.28 $0.00 $199.65 $36,201.18
47 $36,201.18 $691.28 $0.00 $204.69 $37,097.15
48 $37,097.15 $691.28 $0.00 $209.75 $37,998.18
49 $37,998.18 $691.28 $0.00 $214.85 $38,904.31
50 $38,904.31 $691.28 $0.00 $219.97 $39,815.56
51 $39,815.56 $691.28 $0.00 $225.12 $40,731.96
52 $40,731.96 $691.28 $0.00 $230.30 $41,653.54
53 $41,653.54 $691.28 $0.00 $235.52 $42,580.34
54 $42,580.34 $691.28 $0.00 $240.76 $43,512.38
55 $43,512.38 $691.28 $0.00 $246.03 $44,449.69
56 $44,449.69 $691.28 $0.00 $251.33 $45,392.30
57 $45,392.30 $691.28 $0.00 $256.65 $46,340.23
58 $46,340.23 $691.28 $0.00 $262.01 $47,293.52
59 $47,293.52 $691.28 $0.00 $267.40 $48,252.20
60 $48,252.20 $691.28 $0.00 $272.82 $49,216.30
61 $49,216.30 $691.28 $0.00 $278.28 $50,185.86
62 $50,185.86 $691.28 $0.00 $283.76 $51,160.90
63 $51,160.90 $691.28 $0.00 $289.27 $52,141.45
64 $52,141.45 $691.28 $0.00 $294.82 $53,127.55
65 $53,127.55 $691.28 $0.00 $300.39 $54,119.22
66 $54,119.22 $691.28 $0.00 $306.00 $55,116.50
67 $55,116.50 $691.28 $0.00 $311.64 $56,119.42
68 $56,119.42 $691.28 $0.00 $317.31 $57,128.01
69 $57,128.01 $691.28 $0.00 $323.01 $58,142.30
70 $58,142.30 $691.28 $0.00 $328.75 $59,162.33
71 $59,162.33 $691.28 $0.00 $334.51 $60,188.12
72 $60,188.12 $691.28 $0.00 $340.31 $61,219.71
73 $61,219.71 $691.28 $0.00 $346.15 $62,257.14
74 $62,257.14 $691.28 $0.00 $352.01 $63,300.43
75 $63,300.43 $691.28 $0.00 $357.91 $64,349.62
76 $64,349.62 $691.28 $0.00 $363.84 $65,404.74
77 $65,404.74 $691.28 $0.00 $369.81 $66,465.83
78 $66,465.83 $691.28 $0.00 $375.81 $67,532.92
79 $67,532.92 $691.28 $0.00 $381.84 $68,606.04
80 $68,606.04 $691.28 $0.00 $387.91 $69,685.23
81 $69,685.23 $691.28 $0.00 $394.01 $70,770.52
82 $70,770.52 $691.28 $0.00 $400.15 $71,861.95
83 $71,861.95 $691.28 $0.00 $406.32 $72,959.55
84 $72,959.55 $691.28 $0.00 $412.52 $74,063.35
85 $74,063.35 $691.28 $0.00 $418.76 $75,173.39
86 $75,173.39 $691.28 $0.00 $425.04 $76,289.71
87 $76,289.71 $691.28 $0.00 $431.35 $77,412.34
88 $77,412.34 $691.28 $0.00 $437.70 $78,541.32
89 $78,541.32 $691.28 $0.00 $444.08 $79,676.68
90 $79,676.68 $691.28 $0.00 $450.50 $80,818.46
91 $80,818.46 $691.28 $0.00 $456.96 $81,966.70
92 $81,966.70 $691.28 $0.00 $463.45 $83,121.43
93 $83,121.43 $691.28 $0.00 $469.98 $84,282.69
94 $84,282.69 $691.28 $0.00 $476.55 $85,450.52
95 $85,450.52 $691.28 $0.00 $483.15 $86,624.95
96 $86,624.95 $691.28 $0.00 $489.79 $87,806.02
97 $87,806.02 $691.28 $0.00 $496.47 $88,993.77
98 $88,993.77 $691.28 $0.00 $503.18 $90,188.23
99 $90,188.23 $691.28 $0.00 $509.94 $91,389.45
100 $91,389.45 $691.28 $0.00 $516.73 $92,597.46
101 $92,597.46 $691.28 $0.00 $523.56 $93,812.30
102 $93,812.30 $691.28 $0.00 $530.43 $95,034.01
103 $95,034.01 $691.28 $0.00 $537.34 $96,262.63
104 $96,262.63 $691.28 $0.00 $544.28 $97,498.19
105 $97,498.19 $691.28 $0.00 $551.27 $98,740.74
106 $98,740.74 $691.28 $0.00 $558.29 $99,990.31
107 $99,990.31 $691.28 $0.00 $565.36 $101,246.95
108 $101,246.95 $691.28 $0.00 $572.46 $102,510.69
109 $102,510.69 $691.28 $0.00 $579.61 $103,781.58
110 $103,781.58 $691.28 $0.00 $586.80 $105,059.66
111 $105,059.66 $691.28 $0.00 $594.02 $106,344.96
112 $106,344.96 $691.28 $0.00 $601.29 $107,637.53
113 $107,637.53 $691.28 $0.00 $608.60 $108,937.41
114 $108,937.41 $691.28 $0.00 $615.95 $110,244.64
115 $110,244.64 $691.28 $0.00 $623.34 $111,559.26
116 $111,559.26 $691.28 $0.00 $630.77 $112,881.31
117 $112,881.31 $691.28 $0.00 $638.25 $114,210.84
118 $114,210.84 $691.28 $0.00 $645.76 $115,547.88
119 $115,547.88 $691.28 $0.00 $653.32 $116,892.48
120 $116,892.48 $691.28 $0.00 $660.93 $118,244.69
121 $118,244.69 $691.28 $0.00 $668.57 $119,604.54
122 $119,604.54 $691.28 $0.00 $676.26 $120,972.08
123 $120,972.08 $691.28 $0.00 $683.99 $122,347.35
124 $122,347.35 $691.28 $0.00 $691.77 $123,730.40
125 $123,730.40 $691.28 $0.00 $699.59 $125,121.27
126 $125,121.27 $691.28 $0.00 $707.45 $126,520.00
127 $126,520.00 $691.28 $0.00 $715.36 $127,926.64
128 $127,926.64 $691.28 $0.00 $723.32 $129,341.24
129 $129,341.24 $691.28 $0.00 $731.31 $130,763.83
130 $130,763.83 $691.28 $0.00 $739.36 $132,194.47
131 $132,194.47 $691.28 $0.00 $747.45 $133,633.20
132 $133,633.20 $691.28 $0.00 $755.58 $135,080.06
133 $135,080.06 $691.28 $0.00 $763.76 $136,535.10
134 $136,535.10 $691.28 $0.00 $771.99 $137,998.37
135 $137,998.37 $691.28 $0.00 $780.26 $139,469.91
136 $139,469.91 $691.28 $0.00 $788.58 $140,949.77
137 $140,949.77 $691.28 $0.00 $796.95 $142,438.00
138 $142,438.00 $691.28 $0.00 $805.37 $143,934.65
139 $143,934.65 $691.28 $0.00 $813.83 $145,439.76
140 $145,439.76 $691.28 $0.00 $822.34 $146,953.38
141 $146,953.38 $691.28 $0.00 $830.90 $148,475.56
142 $148,475.56 $691.28 $0.00 $839.50 $150,006.34
143 $150,006.34 $691.28 $0.00 $848.16 $151,545.78
144 $151,545.78 $691.28 $0.00 $856.86 $153,093.92
145 $153,093.92 $691.28 $0.00 $865.62 $154,650.82
146 $154,650.82 $691.28 $0.00 $874.42 $156,216.52
147 $156,216.52 $691.28 $0.00 $883.27 $157,791.07
148 $157,791.07 $691.28 $0.00 $892.17 $159,374.52
149 $159,374.52 $691.28 $0.00 $901.13 $160,966.93
150 $160,966.93 $691.28 $0.00 $910.13 $162,568.34
151 $162,568.34 $691.28 $0.00 $919.19 $164,178.81
152 $164,178.81 $691.28 $0.00 $928.29 $165,798.38
153 $165,798.38 $691.28 $0.00 $937.45 $167,427.11
154 $167,427.11 $691.28 $0.00 $946.66 $169,065.05
155 $169,065.05 $691.28 $0.00 $955.92 $170,712.25
156 $170,712.25 $691.28 $0.00 $965.23 $172,368.76
157 $172,368.76 $691.28 $0.00 $974.60 $174,034.64
158 $174,034.64 $691.28 $0.00 $984.02 $175,709.94
159 $175,709.94 $691.28 $0.00 $993.49 $177,394.71
160 $177,394.71 $691.28 $0.00 $1,003.02 $179,089.01
161 $179,089.01 $691.28 $0.00 $1,012.60 $180,792.89
162 $180,792.89 $691.28 $0.00 $1,022.23 $182,506.40
163 $182,506.40 $691.28 $0.00 $1,031.92 $184,229.60
164 $184,229.60 $691.28 $0.00 $1,041.66 $185,962.54
165 $185,962.54 $691.28 $0.00 $1,051.46 $187,705.28
166 $187,705.28 $691.28 $0.00 $1,061.31 $189,457.87
167 $189,457.87 $691.28 $0.00 $1,071.22 $191,220.37
168 $191,220.37 $691.28 $0.00 $1,081.19 $192,992.84
169 $192,992.84 $691.28 $0.00 $1,091.21 $194,775.33
170 $194,775.33 $691.28 $0.00 $1,101.29 $196,567.90
171 $196,567.90 $691.28 $0.00 $1,111.42 $198,370.60
172 $198,370.60 $691.28 $0.00 $1,121.62 $200,183.50
173 $200,183.50 $691.28 $0.00 $1,131.87 $202,006.65
174 $202,006.65 $691.28 $0.00 $1,142.17 $203,840.10
175 $203,840.10 $691.28 $0.00 $1,152.54 $205,683.92
176 $205,683.92 $691.28 $0.00 $1,162.97 $207,538.17
177 $207,538.17 $691.28 $0.00 $1,173.45 $209,402.90
178 $209,402.90 $691.28 $0.00 $1,183.99 $211,278.17
179 $211,278.17 $691.28 $0.00 $1,194.60 $213,164.05
180 $213,164.05 $691.28 $0.00 $1,205.26 $215,060.59
181 $215,060.59 $691.28 $0.00 $1,215.98 $216,967.85
182 $216,967.85 $691.28 $0.00 $1,226.77 $218,885.90
183 $218,885.90 $691.28 $0.00 $1,237.61 $220,814.79
184 $220,814.79 $691.28 $0.00 $1,248.52 $222,754.59
185 $222,754.59 $691.28 $0.00 $1,259.49 $224,705.36
186 $224,705.36 $691.28 $0.00 $1,270.52 $226,667.16
187 $226,667.16 $691.28 $0.00 $1,281.61 $228,640.05
188 $228,640.05 $691.28 $0.00 $1,292.76 $230,624.09
189 $230,624.09 $691.28 $0.00 $1,303.98 $232,619.35
190 $232,619.35 $691.28 $0.00 $1,315.26 $234,625.89
191 $234,625.89 $691.28 $0.00 $1,326.61 $236,643.78
192 $236,643.78 $691.28 $0.00 $1,338.02 $238,673.08
193 $238,673.08 $691.28 $0.00 $1,349.49 $240,713.85
194 $240,713.85 $691.28 $0.00 $1,361.03 $242,766.16
195 $242,766.16 $691.28 $0.00 $1,372.64 $244,830.08
196 $244,830.08 $691.28 $0.00 $1,384.30 $246,905.66
197 $246,905.66 $691.28 $0.00 $1,396.04 $248,992.98
198 $248,992.98 $691.28 $0.00 $1,407.84 $251,092.10
199 $251,092.10 $691.28 $0.00 $1,419.71 $253,203.09
200 $253,203.09 $691.28 $0.00 $1,431.65 $255,326.02
201 $255,326.02 $691.28 $0.00 $1,443.65 $257,460.95
202 $257,460.95 $691.28 $0.00 $1,455.72 $259,607.95
203 $259,607.95 $691.28 $0.00 $1,467.86 $261,767.09
204 $261,767.09 $691.28 $0.00 $1,480.07 $263,938.44
205 $263,938.44 $691.28 $0.00 $1,492.35 $266,122.07
206 $266,122.07 $691.28 $0.00 $1,504.69 $268,318.04
207 $268,318.04 $691.28 $0.00 $1,517.11 $270,526.43
208 $270,526.43 $691.28 $0.00 $1,529.60 $272,747.31
209 $272,747.31 $691.28 $0.00 $1,542.15 $274,980.74
210 $274,980.74 $691.28 $0.00 $1,554.78 $277,226.80
211 $277,226.80 $691.28 $0.00 $1,567.48 $279,485.56
212 $279,485.56 $691.28 $0.00 $1,580.25 $281,757.09
213 $281,757.09 $691.28 $0.00 $1,593.10 $284,041.47
214 $284,041.47 $691.28 $0.00 $1,606.01 $286,338.76
215 $286,338.76 $691.28 $0.00 $1,619.00 $288,649.04
216 $288,649.04 $691.28 $0.00 $1,632.06 $290,972.38
217 $290,972.38 $691.28 $81,045.31 $1,645.20 $212,263.55
218 $212,263.55 $691.28 $0.00 $1,200.17 $214,155.00
219 $214,155.00 $691.28 $0.00 $1,210.86 $216,057.14
220 $216,057.14 $691.28 $0.00 $1,221.62 $217,970.04
221 $217,970.04 $691.28 $0.00 $1,232.43 $219,893.75
222 $219,893.75 $691.28 $0.00 $1,243.31 $221,828.34
223 $221,828.34 $691.28 $0.00 $1,254.25 $223,773.87
224 $223,773.87 $691.28 $0.00 $1,265.25 $225,730.40
225 $225,730.40 $691.28 $0.00 $1,276.31 $227,697.99
226 $227,697.99 $691.28 $0.00 $1,287.44 $229,676.71
227 $229,676.71 $691.28 $0.00 $1,298.63 $231,666.62
228 $231,666.62 $691.28 $0.00 $1,309.88 $233,667.78
229 $233,667.78 $691.28 $85,097.57 $1,321.19 $150,582.68
230 $150,582.68 $691.28 $0.00 $851.42 $152,125.38
231 $152,125.38 $691.28 $0.00 $860.14 $153,676.80
232 $153,676.80 $691.28 $0.00 $868.91 $155,236.99
233 $155,236.99 $691.28 $0.00 $877.73 $156,806.00
234 $156,806.00 $691.28 $0.00 $886.60 $158,383.88
235 $158,383.88 $691.28 $0.00 $895.53 $159,970.69
236 $159,970.69 $691.28 $0.00 $904.50 $161,566.47
237 $161,566.47 $691.28 $0.00 $913.52 $163,171.27
238 $163,171.27 $691.28 $0.00 $922.59 $164,785.14
239 $164,785.14 $691.28 $0.00 $931.72 $166,408.14
240 $166,408.14 $691.28 $0.00 $940.90 $168,040.32
241 $168,040.32 $691.28 $89,352.45 $950.12 $80,329.27
242 $80,329.27 $691.28 $0.00 $454.19 $81,474.74
243 $81,474.74 $691.28 $0.00 $460.67 $82,626.69
244 $82,626.69 $691.28 $0.00 $467.18 $83,785.15
245 $83,785.15 $691.28 $0.00 $473.73 $84,950.16
246 $84,950.16 $691.28 $0.00 $480.32 $86,121.76
247 $86,121.76 $691.28 $0.00 $486.94 $87,299.98
248 $87,299.98 $691.28 $0.00 $493.61 $88,484.87
249 $88,484.87 $691.28 $0.00 $500.31 $89,676.46
250 $89,676.46 $691.28 $0.00 $507.04 $90,874.78
251 $90,874.78 $691.28 $0.00 $513.82 $92,079.88
252 $92,079.88 $691.28 $0.00 $520.63 $93,291.79
253 $93,291.79 $0.00 $93,820.08 $527.49 ($0.80)