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 2042$126,341
Monthly savings required$999

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 $505,365.85 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $998.51 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 Increase7%
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 $998.51 $0.00 $0.00 $998.51
2 $998.51 $998.51 $0.00 $5.65 $2,002.67
3 $2,002.67 $998.51 $0.00 $11.32 $3,012.50
4 $3,012.50 $998.51 $0.00 $17.03 $4,028.04
5 $4,028.04 $998.51 $0.00 $22.78 $5,049.33
6 $5,049.33 $998.51 $0.00 $28.55 $6,076.39
7 $6,076.39 $998.51 $0.00 $34.36 $7,109.26
8 $7,109.26 $998.51 $0.00 $40.20 $8,147.97
9 $8,147.97 $998.51 $0.00 $46.07 $9,192.55
10 $9,192.55 $998.51 $0.00 $51.98 $10,243.04
11 $10,243.04 $998.51 $0.00 $57.92 $11,299.47
12 $11,299.47 $998.51 $0.00 $63.89 $12,361.87
13 $12,361.87 $998.51 $0.00 $69.90 $13,430.28
14 $13,430.28 $998.51 $0.00 $75.94 $14,504.73
15 $14,504.73 $998.51 $0.00 $82.01 $15,585.25
16 $15,585.25 $998.51 $0.00 $88.12 $16,671.88
17 $16,671.88 $998.51 $0.00 $94.27 $17,764.66
18 $17,764.66 $998.51 $0.00 $100.44 $18,863.61
19 $18,863.61 $998.51 $0.00 $106.66 $19,968.78
20 $19,968.78 $998.51 $0.00 $112.91 $21,080.20
21 $21,080.20 $998.51 $0.00 $119.19 $22,197.90
22 $22,197.90 $998.51 $0.00 $125.51 $23,321.92
23 $23,321.92 $998.51 $0.00 $131.87 $24,452.30
24 $24,452.30 $998.51 $0.00 $138.26 $25,589.07
25 $25,589.07 $998.51 $0.00 $144.68 $26,732.26
26 $26,732.26 $998.51 $0.00 $151.15 $27,881.92
27 $27,881.92 $998.51 $0.00 $157.65 $29,038.08
28 $29,038.08 $998.51 $0.00 $164.19 $30,200.78
29 $30,200.78 $998.51 $0.00 $170.76 $31,370.05
30 $31,370.05 $998.51 $0.00 $177.37 $32,545.93
31 $32,545.93 $998.51 $0.00 $184.02 $33,728.46
32 $33,728.46 $998.51 $0.00 $190.71 $34,917.68
33 $34,917.68 $998.51 $0.00 $197.43 $36,113.62
34 $36,113.62 $998.51 $0.00 $204.19 $37,316.32
35 $37,316.32 $998.51 $0.00 $210.99 $38,525.82
36 $38,525.82 $998.51 $0.00 $217.83 $39,742.16
37 $39,742.16 $998.51 $0.00 $224.71 $40,965.38
38 $40,965.38 $998.51 $0.00 $231.62 $42,195.51
39 $42,195.51 $998.51 $0.00 $238.58 $43,432.60
40 $43,432.60 $998.51 $0.00 $245.57 $44,676.68
41 $44,676.68 $998.51 $0.00 $252.61 $45,927.80
42 $45,927.80 $998.51 $0.00 $259.68 $47,185.99
43 $47,185.99 $998.51 $0.00 $266.80 $48,451.30
44 $48,451.30 $998.51 $0.00 $273.95 $49,723.76
45 $49,723.76 $998.51 $0.00 $281.15 $51,003.42
46 $51,003.42 $998.51 $0.00 $288.38 $52,290.31
47 $52,290.31 $998.51 $0.00 $295.66 $53,584.48
48 $53,584.48 $998.51 $0.00 $302.97 $54,885.96
49 $54,885.96 $998.51 $0.00 $310.33 $56,194.80
50 $56,194.80 $998.51 $0.00 $317.73 $57,511.04
51 $57,511.04 $998.51 $0.00 $325.18 $58,834.73
52 $58,834.73 $998.51 $0.00 $332.66 $60,165.90
53 $60,165.90 $998.51 $0.00 $340.19 $61,504.60
54 $61,504.60 $998.51 $0.00 $347.76 $62,850.87
55 $62,850.87 $998.51 $0.00 $355.37 $64,204.75
56 $64,204.75 $998.51 $0.00 $363.02 $65,566.28
57 $65,566.28 $998.51 $0.00 $370.72 $66,935.51
58 $66,935.51 $998.51 $0.00 $378.46 $68,312.48
59 $68,312.48 $998.51 $0.00 $386.25 $69,697.24
60 $69,697.24 $998.51 $0.00 $394.08 $71,089.83
61 $71,089.83 $998.51 $0.00 $401.95 $72,490.29
62 $72,490.29 $998.51 $0.00 $409.87 $73,898.67
63 $73,898.67 $998.51 $0.00 $417.83 $75,315.01
64 $75,315.01 $998.51 $0.00 $425.84 $76,739.36
65 $76,739.36 $998.51 $0.00 $433.90 $78,171.77
66 $78,171.77 $998.51 $0.00 $441.99 $79,612.27
67 $79,612.27 $998.51 $0.00 $450.14 $81,060.92
68 $81,060.92 $998.51 $0.00 $458.33 $82,517.76
69 $82,517.76 $998.51 $0.00 $466.57 $83,982.84
70 $83,982.84 $998.51 $0.00 $474.85 $85,456.20
71 $85,456.20 $998.51 $0.00 $483.18 $86,937.89
72 $86,937.89 $998.51 $0.00 $491.56 $88,427.96
73 $88,427.96 $998.51 $0.00 $499.98 $89,926.45
74 $89,926.45 $998.51 $0.00 $508.46 $91,433.42
75 $91,433.42 $998.51 $0.00 $516.98 $92,948.91
76 $92,948.91 $998.51 $0.00 $525.55 $94,472.97
77 $94,472.97 $998.51 $0.00 $534.16 $96,005.64
78 $96,005.64 $998.51 $0.00 $542.83 $97,546.98
79 $97,546.98 $998.51 $0.00 $551.54 $99,097.03
80 $99,097.03 $998.51 $0.00 $560.31 $100,655.85
81 $100,655.85 $998.51 $0.00 $569.12 $102,223.48
82 $102,223.48 $998.51 $0.00 $577.99 $103,799.98
83 $103,799.98 $998.51 $0.00 $586.90 $105,385.39
84 $105,385.39 $998.51 $0.00 $595.86 $106,979.76
85 $106,979.76 $998.51 $0.00 $604.88 $108,583.15
86 $108,583.15 $998.51 $0.00 $613.94 $110,195.60
87 $110,195.60 $998.51 $0.00 $623.06 $111,817.17
88 $111,817.17 $998.51 $0.00 $632.23 $113,447.91
89 $113,447.91 $998.51 $0.00 $641.45 $115,087.87
90 $115,087.87 $998.51 $0.00 $650.72 $116,737.10
91 $116,737.10 $998.51 $0.00 $660.05 $118,395.66
92 $118,395.66 $998.51 $0.00 $669.43 $120,063.60
93 $120,063.60 $998.51 $0.00 $678.86 $121,740.97
94 $121,740.97 $998.51 $0.00 $688.34 $123,427.82
95 $123,427.82 $998.51 $0.00 $697.88 $125,124.21
96 $125,124.21 $998.51 $0.00 $707.47 $126,830.19
97 $126,830.19 $998.51 $0.00 $717.12 $128,545.82
98 $128,545.82 $998.51 $0.00 $726.82 $130,271.15
99 $130,271.15 $998.51 $0.00 $736.57 $132,006.23
100 $132,006.23 $998.51 $0.00 $746.38 $133,751.12
101 $133,751.12 $998.51 $0.00 $756.25 $135,505.88
102 $135,505.88 $998.51 $0.00 $766.17 $137,270.56
103 $137,270.56 $998.51 $0.00 $776.15 $139,045.22
104 $139,045.22 $998.51 $0.00 $786.18 $140,829.91
105 $140,829.91 $998.51 $0.00 $796.27 $142,624.69
106 $142,624.69 $998.51 $0.00 $806.42 $144,429.62
107 $144,429.62 $998.51 $0.00 $816.63 $146,244.76
108 $146,244.76 $998.51 $0.00 $826.89 $148,070.16
109 $148,070.16 $998.51 $0.00 $837.21 $149,905.88
110 $149,905.88 $998.51 $0.00 $847.59 $151,751.98
111 $151,751.98 $998.51 $0.00 $858.03 $153,608.52
112 $153,608.52 $998.51 $0.00 $868.52 $155,475.55
113 $155,475.55 $998.51 $0.00 $879.08 $157,353.14
114 $157,353.14 $998.51 $0.00 $889.70 $159,241.35
115 $159,241.35 $998.51 $0.00 $900.37 $161,140.23
116 $161,140.23 $998.51 $0.00 $911.11 $163,049.85
117 $163,049.85 $998.51 $0.00 $921.91 $164,970.27
118 $164,970.27 $998.51 $0.00 $932.77 $166,901.55
119 $166,901.55 $998.51 $0.00 $943.69 $168,843.75
120 $168,843.75 $998.51 $0.00 $954.67 $170,796.93
121 $170,796.93 $998.51 $0.00 $965.71 $172,761.15
122 $172,761.15 $998.51 $0.00 $976.82 $174,736.48
123 $174,736.48 $998.51 $0.00 $987.99 $176,722.98
124 $176,722.98 $998.51 $0.00 $999.22 $178,720.71
125 $178,720.71 $998.51 $0.00 $1,010.51 $180,729.73
126 $180,729.73 $998.51 $0.00 $1,021.87 $182,750.11
127 $182,750.11 $998.51 $0.00 $1,033.30 $184,781.92
128 $184,781.92 $998.51 $0.00 $1,044.78 $186,825.21
129 $186,825.21 $998.51 $0.00 $1,056.34 $188,880.06
130 $188,880.06 $998.51 $0.00 $1,067.96 $190,946.53
131 $190,946.53 $998.51 $0.00 $1,079.64 $193,024.68
132 $193,024.68 $998.51 $0.00 $1,091.39 $195,114.58
133 $195,114.58 $998.51 $0.00 $1,103.21 $197,216.30
134 $197,216.30 $998.51 $0.00 $1,115.09 $199,329.90
135 $199,329.90 $998.51 $0.00 $1,127.04 $201,455.45
136 $201,455.45 $998.51 $0.00 $1,139.06 $203,593.02
137 $203,593.02 $998.51 $0.00 $1,151.14 $205,742.67
138 $205,742.67 $998.51 $0.00 $1,163.30 $207,904.48
139 $207,904.48 $998.51 $0.00 $1,175.52 $210,078.51
140 $210,078.51 $998.51 $0.00 $1,187.81 $212,264.83
141 $212,264.83 $998.51 $0.00 $1,200.18 $214,463.52
142 $214,463.52 $998.51 $0.00 $1,212.61 $216,674.64
143 $216,674.64 $998.51 $0.00 $1,225.11 $218,898.26
144 $218,898.26 $998.51 $0.00 $1,237.68 $221,134.45
145 $221,134.45 $998.51 $0.00 $1,250.33 $223,383.29
146 $223,383.29 $998.51 $0.00 $1,263.04 $225,644.84
147 $225,644.84 $998.51 $0.00 $1,275.83 $227,919.18
148 $227,919.18 $998.51 $0.00 $1,288.69 $230,206.38
149 $230,206.38 $998.51 $0.00 $1,301.62 $232,506.51
150 $232,506.51 $998.51 $0.00 $1,314.63 $234,819.65
151 $234,819.65 $998.51 $0.00 $1,327.70 $237,145.86
152 $237,145.86 $998.51 $0.00 $1,340.86 $239,485.23
153 $239,485.23 $998.51 $0.00 $1,354.08 $241,837.82
154 $241,837.82 $998.51 $0.00 $1,367.39 $244,203.72
155 $244,203.72 $998.51 $0.00 $1,380.76 $246,582.99
156 $246,582.99 $998.51 $0.00 $1,394.22 $248,975.72
157 $248,975.72 $998.51 $0.00 $1,407.74 $251,381.97
158 $251,381.97 $998.51 $0.00 $1,421.35 $253,801.83
159 $253,801.83 $998.51 $0.00 $1,435.03 $256,235.37
160 $256,235.37 $998.51 $0.00 $1,448.79 $258,682.67
161 $258,682.67 $998.51 $0.00 $1,462.63 $261,143.81
162 $261,143.81 $998.51 $0.00 $1,476.55 $263,618.87
163 $263,618.87 $998.51 $0.00 $1,490.54 $266,107.92
164 $266,107.92 $998.51 $0.00 $1,504.61 $268,611.04
165 $268,611.04 $998.51 $0.00 $1,518.77 $271,128.32
166 $271,128.32 $998.51 $0.00 $1,533.00 $273,659.83
167 $273,659.83 $998.51 $0.00 $1,547.31 $276,205.65
168 $276,205.65 $998.51 $0.00 $1,561.71 $278,765.87
169 $278,765.87 $998.51 $0.00 $1,576.18 $281,340.56
170 $281,340.56 $998.51 $0.00 $1,590.74 $283,929.81
171 $283,929.81 $998.51 $0.00 $1,605.38 $286,533.70
172 $286,533.70 $998.51 $0.00 $1,620.10 $289,152.31
173 $289,152.31 $998.51 $0.00 $1,634.91 $291,785.73
174 $291,785.73 $998.51 $0.00 $1,649.80 $294,434.04
175 $294,434.04 $998.51 $0.00 $1,664.77 $297,097.32
176 $297,097.32 $998.51 $0.00 $1,679.83 $299,775.66
177 $299,775.66 $998.51 $0.00 $1,694.98 $302,469.15
178 $302,469.15 $998.51 $0.00 $1,710.20 $305,177.86
179 $305,177.86 $998.51 $0.00 $1,725.52 $307,901.89
180 $307,901.89 $998.51 $0.00 $1,740.92 $310,641.32
181 $310,641.32 $998.51 $0.00 $1,756.41 $313,396.24
182 $313,396.24 $998.51 $0.00 $1,771.99 $316,166.74
183 $316,166.74 $998.51 $0.00 $1,787.65 $318,952.90
184 $318,952.90 $998.51 $0.00 $1,803.41 $321,754.82
185 $321,754.82 $998.51 $0.00 $1,819.25 $324,572.58
186 $324,572.58 $998.51 $0.00 $1,835.18 $327,406.27
187 $327,406.27 $998.51 $0.00 $1,851.20 $330,255.98
188 $330,255.98 $998.51 $0.00 $1,867.32 $333,121.81
189 $333,121.81 $998.51 $0.00 $1,883.52 $336,003.84
190 $336,003.84 $998.51 $0.00 $1,899.81 $338,902.16
191 $338,902.16 $998.51 $0.00 $1,916.20 $341,816.87
192 $341,816.87 $998.51 $0.00 $1,932.68 $344,748.06
193 $344,748.06 $998.51 $0.00 $1,949.26 $347,695.83
194 $347,695.83 $998.51 $0.00 $1,965.92 $350,660.26
195 $350,660.26 $998.51 $0.00 $1,982.68 $353,641.45
196 $353,641.45 $998.51 $0.00 $1,999.54 $356,639.50
197 $356,639.50 $998.51 $0.00 $2,016.49 $359,654.50
198 $359,654.50 $998.51 $0.00 $2,033.54 $362,686.55
199 $362,686.55 $998.51 $0.00 $2,050.68 $365,735.74
200 $365,735.74 $998.51 $0.00 $2,067.92 $368,802.17
201 $368,802.17 $998.51 $0.00 $2,085.26 $371,885.94
202 $371,885.94 $998.51 $0.00 $2,102.70 $374,987.15
203 $374,987.15 $998.51 $0.00 $2,120.23 $378,105.89
204 $378,105.89 $998.51 $0.00 $2,137.87 $381,242.27
205 $381,242.27 $998.51 $0.00 $2,155.60 $384,396.38
206 $384,396.38 $998.51 $0.00 $2,173.43 $387,568.32
207 $387,568.32 $998.51 $0.00 $2,191.37 $390,758.20
208 $390,758.20 $998.51 $0.00 $2,209.40 $393,966.11
209 $393,966.11 $998.51 $0.00 $2,227.54 $397,192.16
210 $397,192.16 $998.51 $0.00 $2,245.78 $400,436.45
211 $400,436.45 $998.51 $0.00 $2,264.13 $403,699.09
212 $403,699.09 $998.51 $0.00 $2,282.57 $406,980.17
213 $406,980.17 $998.51 $0.00 $2,301.13 $410,279.81
214 $410,279.81 $998.51 $0.00 $2,319.78 $413,598.10
215 $413,598.10 $998.51 $0.00 $2,338.54 $416,935.15
216 $416,935.15 $998.51 $0.00 $2,357.41 $420,291.07
217 $420,291.07 $998.51 $113,822.60 $2,376.39 $309,843.37
218 $309,843.37 $998.51 $0.00 $1,751.90 $312,593.78
219 $312,593.78 $998.51 $0.00 $1,767.45 $315,359.74
220 $315,359.74 $998.51 $0.00 $1,783.09 $318,141.34
221 $318,141.34 $998.51 $0.00 $1,798.82 $320,938.67
222 $320,938.67 $998.51 $0.00 $1,814.63 $323,751.81
223 $323,751.81 $998.51 $0.00 $1,830.54 $326,580.86
224 $326,580.86 $998.51 $0.00 $1,846.54 $329,425.91
225 $329,425.91 $998.51 $0.00 $1,862.62 $332,287.04
226 $332,287.04 $998.51 $0.00 $1,878.80 $335,164.35
227 $335,164.35 $998.51 $0.00 $1,895.07 $338,057.93
228 $338,057.93 $998.51 $0.00 $1,911.43 $340,967.87
229 $340,967.87 $998.51 $121,790.18 $1,927.88 $222,104.08
230 $222,104.08 $998.51 $0.00 $1,255.81 $224,358.40
231 $224,358.40 $998.51 $0.00 $1,268.56 $226,625.47
232 $226,625.47 $998.51 $0.00 $1,281.37 $228,905.35
233 $228,905.35 $998.51 $0.00 $1,294.26 $231,198.12
234 $231,198.12 $998.51 $0.00 $1,307.23 $233,503.86
235 $233,503.86 $998.51 $0.00 $1,320.26 $235,822.63
236 $235,822.63 $998.51 $0.00 $1,333.38 $238,154.52
237 $238,154.52 $998.51 $0.00 $1,346.56 $240,499.59
238 $240,499.59 $998.51 $0.00 $1,359.82 $242,857.92
239 $242,857.92 $998.51 $0.00 $1,373.15 $245,229.58
240 $245,229.58 $998.51 $0.00 $1,386.56 $247,614.65
241 $247,614.65 $998.51 $130,315.49 $1,400.05 $119,697.72
242 $119,697.72 $998.51 $0.00 $676.79 $121,373.02
243 $121,373.02 $998.51 $0.00 $686.26 $123,057.79
244 $123,057.79 $998.51 $0.00 $695.79 $124,752.09
245 $124,752.09 $998.51 $0.00 $705.37 $126,455.97
246 $126,455.97 $998.51 $0.00 $715.00 $128,169.48
247 $128,169.48 $998.51 $0.00 $724.69 $129,892.68
248 $129,892.68 $998.51 $0.00 $734.43 $131,625.62
249 $131,625.62 $998.51 $0.00 $744.23 $133,368.36
250 $133,368.36 $998.51 $0.00 $754.08 $135,120.95
251 $135,120.95 $998.51 $0.00 $763.99 $136,883.45
252 $136,883.45 $998.51 $0.00 $773.96 $138,655.92
253 $138,655.92 $0.00 $139,437.58 $783.98 $2.32