Savings Plan and Future Cost Estimation for Furman University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$176,945
Monthly savings required$1,401

How much will it cost to send your child to Furman University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $707,779.66 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,400.67 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$68,234.00
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 $1,400.67 $0.00 $0.00 $1,400.67
2 $1,400.67 $1,400.67 $0.00 $7.92 $2,809.26
3 $2,809.26 $1,400.67 $0.00 $15.88 $4,225.81
4 $4,225.81 $1,400.67 $0.00 $23.89 $5,650.37
5 $5,650.37 $1,400.67 $0.00 $31.95 $7,082.99
6 $7,082.99 $1,400.67 $0.00 $40.05 $8,523.71
7 $8,523.71 $1,400.67 $0.00 $48.19 $9,972.57
8 $9,972.57 $1,400.67 $0.00 $56.39 $11,429.63
9 $11,429.63 $1,400.67 $0.00 $64.62 $12,894.92
10 $12,894.92 $1,400.67 $0.00 $72.91 $14,368.50
11 $14,368.50 $1,400.67 $0.00 $81.24 $15,850.41
12 $15,850.41 $1,400.67 $0.00 $89.62 $17,340.70
13 $17,340.70 $1,400.67 $0.00 $98.05 $18,839.42
14 $18,839.42 $1,400.67 $0.00 $106.52 $20,346.61
15 $20,346.61 $1,400.67 $0.00 $115.04 $21,862.32
16 $21,862.32 $1,400.67 $0.00 $123.61 $23,386.60
17 $23,386.60 $1,400.67 $0.00 $132.23 $24,919.50
18 $24,919.50 $1,400.67 $0.00 $140.90 $26,461.07
19 $26,461.07 $1,400.67 $0.00 $149.61 $28,011.35
20 $28,011.35 $1,400.67 $0.00 $158.38 $29,570.40
21 $29,570.40 $1,400.67 $0.00 $167.20 $31,138.27
22 $31,138.27 $1,400.67 $0.00 $176.06 $32,715.00
23 $32,715.00 $1,400.67 $0.00 $184.98 $34,300.65
24 $34,300.65 $1,400.67 $0.00 $193.94 $35,895.26
25 $35,895.26 $1,400.67 $0.00 $202.96 $37,498.89
26 $37,498.89 $1,400.67 $0.00 $212.02 $39,111.58
27 $39,111.58 $1,400.67 $0.00 $221.14 $40,733.39
28 $40,733.39 $1,400.67 $0.00 $230.31 $42,364.37
29 $42,364.37 $1,400.67 $0.00 $239.53 $44,004.57
30 $44,004.57 $1,400.67 $0.00 $248.81 $45,654.05
31 $45,654.05 $1,400.67 $0.00 $258.13 $47,312.85
32 $47,312.85 $1,400.67 $0.00 $267.51 $48,981.03
33 $48,981.03 $1,400.67 $0.00 $276.95 $50,658.65
34 $50,658.65 $1,400.67 $0.00 $286.43 $52,345.75
35 $52,345.75 $1,400.67 $0.00 $295.97 $54,042.39
36 $54,042.39 $1,400.67 $0.00 $305.56 $55,748.62
37 $55,748.62 $1,400.67 $0.00 $315.21 $57,464.50
38 $57,464.50 $1,400.67 $0.00 $324.91 $59,190.08
39 $59,190.08 $1,400.67 $0.00 $334.67 $60,925.42
40 $60,925.42 $1,400.67 $0.00 $344.48 $62,670.57
41 $62,670.57 $1,400.67 $0.00 $354.35 $64,425.59
42 $64,425.59 $1,400.67 $0.00 $364.27 $66,190.53
43 $66,190.53 $1,400.67 $0.00 $374.25 $67,965.45
44 $67,965.45 $1,400.67 $0.00 $384.29 $69,750.41
45 $69,750.41 $1,400.67 $0.00 $394.38 $71,545.46
46 $71,545.46 $1,400.67 $0.00 $404.53 $73,350.66
47 $73,350.66 $1,400.67 $0.00 $414.74 $75,166.07
48 $75,166.07 $1,400.67 $0.00 $425.00 $76,991.74
49 $76,991.74 $1,400.67 $0.00 $435.32 $78,827.73
50 $78,827.73 $1,400.67 $0.00 $445.70 $80,674.10
51 $80,674.10 $1,400.67 $0.00 $456.14 $82,530.91
52 $82,530.91 $1,400.67 $0.00 $466.64 $84,398.22
53 $84,398.22 $1,400.67 $0.00 $477.20 $86,276.09
54 $86,276.09 $1,400.67 $0.00 $487.82 $88,164.58
55 $88,164.58 $1,400.67 $0.00 $498.50 $90,063.75
56 $90,063.75 $1,400.67 $0.00 $509.23 $91,973.65
57 $91,973.65 $1,400.67 $0.00 $520.03 $93,894.35
58 $93,894.35 $1,400.67 $0.00 $530.89 $95,825.91
59 $95,825.91 $1,400.67 $0.00 $541.81 $97,768.39
60 $97,768.39 $1,400.67 $0.00 $552.80 $99,721.86
61 $99,721.86 $1,400.67 $0.00 $563.84 $101,686.37
62 $101,686.37 $1,400.67 $0.00 $574.95 $103,661.99
63 $103,661.99 $1,400.67 $0.00 $586.12 $105,648.78
64 $105,648.78 $1,400.67 $0.00 $597.35 $107,646.80
65 $107,646.80 $1,400.67 $0.00 $608.65 $109,656.12
66 $109,656.12 $1,400.67 $0.00 $620.01 $111,676.80
67 $111,676.80 $1,400.67 $0.00 $631.44 $113,708.91
68 $113,708.91 $1,400.67 $0.00 $642.93 $115,752.51
69 $115,752.51 $1,400.67 $0.00 $654.48 $117,807.66
70 $117,807.66 $1,400.67 $0.00 $666.10 $119,874.43
71 $119,874.43 $1,400.67 $0.00 $677.79 $121,952.89
72 $121,952.89 $1,400.67 $0.00 $689.54 $124,043.10
73 $124,043.10 $1,400.67 $0.00 $701.36 $126,145.13
74 $126,145.13 $1,400.67 $0.00 $713.24 $128,259.04
75 $128,259.04 $1,400.67 $0.00 $725.20 $130,384.91
76 $130,384.91 $1,400.67 $0.00 $737.22 $132,522.80
77 $132,522.80 $1,400.67 $0.00 $749.30 $134,672.77
78 $134,672.77 $1,400.67 $0.00 $761.46 $136,834.90
79 $136,834.90 $1,400.67 $0.00 $773.68 $139,009.25
80 $139,009.25 $1,400.67 $0.00 $785.98 $141,195.90
81 $141,195.90 $1,400.67 $0.00 $798.34 $143,394.91
82 $143,394.91 $1,400.67 $0.00 $810.78 $145,606.36
83 $145,606.36 $1,400.67 $0.00 $823.28 $147,830.31
84 $147,830.31 $1,400.67 $0.00 $835.85 $150,066.83
85 $150,066.83 $1,400.67 $0.00 $848.50 $152,316.00
86 $152,316.00 $1,400.67 $0.00 $861.22 $154,577.89
87 $154,577.89 $1,400.67 $0.00 $874.01 $156,852.57
88 $156,852.57 $1,400.67 $0.00 $886.87 $159,140.11
89 $159,140.11 $1,400.67 $0.00 $899.80 $161,440.58
90 $161,440.58 $1,400.67 $0.00 $912.81 $163,754.06
91 $163,754.06 $1,400.67 $0.00 $925.89 $166,080.62
92 $166,080.62 $1,400.67 $0.00 $939.04 $168,420.33
93 $168,420.33 $1,400.67 $0.00 $952.27 $170,773.27
94 $170,773.27 $1,400.67 $0.00 $965.58 $173,139.52
95 $173,139.52 $1,400.67 $0.00 $978.96 $175,519.15
96 $175,519.15 $1,400.67 $0.00 $992.41 $177,912.23
97 $177,912.23 $1,400.67 $0.00 $1,005.94 $180,318.84
98 $180,318.84 $1,400.67 $0.00 $1,019.55 $182,739.06
99 $182,739.06 $1,400.67 $0.00 $1,033.23 $185,172.96
100 $185,172.96 $1,400.67 $0.00 $1,046.99 $187,620.62
101 $187,620.62 $1,400.67 $0.00 $1,060.83 $190,082.12
102 $190,082.12 $1,400.67 $0.00 $1,074.75 $192,557.54
103 $192,557.54 $1,400.67 $0.00 $1,088.75 $195,046.96
104 $195,046.96 $1,400.67 $0.00 $1,102.82 $197,550.45
105 $197,550.45 $1,400.67 $0.00 $1,116.98 $200,068.10
106 $200,068.10 $1,400.67 $0.00 $1,131.21 $202,599.98
107 $202,599.98 $1,400.67 $0.00 $1,145.53 $205,146.18
108 $205,146.18 $1,400.67 $0.00 $1,159.93 $207,706.78
109 $207,706.78 $1,400.67 $0.00 $1,174.40 $210,281.85
110 $210,281.85 $1,400.67 $0.00 $1,188.96 $212,871.48
111 $212,871.48 $1,400.67 $0.00 $1,203.61 $215,475.76
112 $215,475.76 $1,400.67 $0.00 $1,218.33 $218,094.76
113 $218,094.76 $1,400.67 $0.00 $1,233.14 $220,728.57
114 $220,728.57 $1,400.67 $0.00 $1,248.03 $223,377.27
115 $223,377.27 $1,400.67 $0.00 $1,263.01 $226,040.95
116 $226,040.95 $1,400.67 $0.00 $1,278.07 $228,719.69
117 $228,719.69 $1,400.67 $0.00 $1,293.21 $231,413.57
118 $231,413.57 $1,400.67 $0.00 $1,308.45 $234,122.69
119 $234,122.69 $1,400.67 $0.00 $1,323.76 $236,847.12
120 $236,847.12 $1,400.67 $0.00 $1,339.17 $239,586.96
121 $239,586.96 $1,400.67 $0.00 $1,354.66 $242,342.29
122 $242,342.29 $1,400.67 $0.00 $1,370.24 $245,113.20
123 $245,113.20 $1,400.67 $0.00 $1,385.91 $247,899.78
124 $247,899.78 $1,400.67 $0.00 $1,401.66 $250,702.11
125 $250,702.11 $1,400.67 $0.00 $1,417.51 $253,520.29
126 $253,520.29 $1,400.67 $0.00 $1,433.44 $256,354.40
127 $256,354.40 $1,400.67 $0.00 $1,449.47 $259,204.54
128 $259,204.54 $1,400.67 $0.00 $1,465.58 $262,070.79
129 $262,070.79 $1,400.67 $0.00 $1,481.79 $264,953.25
130 $264,953.25 $1,400.67 $0.00 $1,498.08 $267,852.00
131 $267,852.00 $1,400.67 $0.00 $1,514.47 $270,767.14
132 $270,767.14 $1,400.67 $0.00 $1,530.96 $273,698.77
133 $273,698.77 $1,400.67 $0.00 $1,547.53 $276,646.97
134 $276,646.97 $1,400.67 $0.00 $1,564.20 $279,611.84
135 $279,611.84 $1,400.67 $0.00 $1,580.97 $282,593.48
136 $282,593.48 $1,400.67 $0.00 $1,597.82 $285,591.97
137 $285,591.97 $1,400.67 $0.00 $1,614.78 $288,607.42
138 $288,607.42 $1,400.67 $0.00 $1,631.83 $291,639.92
139 $291,639.92 $1,400.67 $0.00 $1,648.97 $294,689.56
140 $294,689.56 $1,400.67 $0.00 $1,666.22 $297,756.45
141 $297,756.45 $1,400.67 $0.00 $1,683.56 $300,840.68
142 $300,840.68 $1,400.67 $0.00 $1,701.00 $303,942.35
143 $303,942.35 $1,400.67 $0.00 $1,718.53 $307,061.55
144 $307,061.55 $1,400.67 $0.00 $1,736.17 $310,198.39
145 $310,198.39 $1,400.67 $0.00 $1,753.91 $313,352.97
146 $313,352.97 $1,400.67 $0.00 $1,771.74 $316,525.38
147 $316,525.38 $1,400.67 $0.00 $1,789.68 $319,715.73
148 $319,715.73 $1,400.67 $0.00 $1,807.72 $322,924.12
149 $322,924.12 $1,400.67 $0.00 $1,825.86 $326,150.65
150 $326,150.65 $1,400.67 $0.00 $1,844.10 $329,395.42
151 $329,395.42 $1,400.67 $0.00 $1,862.45 $332,658.54
152 $332,658.54 $1,400.67 $0.00 $1,880.90 $335,940.11
153 $335,940.11 $1,400.67 $0.00 $1,899.45 $339,240.23
154 $339,240.23 $1,400.67 $0.00 $1,918.11 $342,559.01
155 $342,559.01 $1,400.67 $0.00 $1,936.88 $345,896.56
156 $345,896.56 $1,400.67 $0.00 $1,955.75 $349,252.98
157 $349,252.98 $1,400.67 $0.00 $1,974.73 $352,628.38
158 $352,628.38 $1,400.67 $0.00 $1,993.81 $356,022.86
159 $356,022.86 $1,400.67 $0.00 $2,013.01 $359,436.54
160 $359,436.54 $1,400.67 $0.00 $2,032.31 $362,869.52
161 $362,869.52 $1,400.67 $0.00 $2,051.72 $366,321.91
162 $366,321.91 $1,400.67 $0.00 $2,071.24 $369,793.82
163 $369,793.82 $1,400.67 $0.00 $2,090.87 $373,285.36
164 $373,285.36 $1,400.67 $0.00 $2,110.61 $376,796.64
165 $376,796.64 $1,400.67 $0.00 $2,130.46 $380,327.77
166 $380,327.77 $1,400.67 $0.00 $2,150.43 $383,878.87
167 $383,878.87 $1,400.67 $0.00 $2,170.51 $387,450.05
168 $387,450.05 $1,400.67 $0.00 $2,190.70 $391,041.42
169 $391,041.42 $1,400.67 $0.00 $2,211.01 $394,653.10
170 $394,653.10 $1,400.67 $0.00 $2,231.43 $398,285.20
171 $398,285.20 $1,400.67 $0.00 $2,251.96 $401,937.83
172 $401,937.83 $1,400.67 $0.00 $2,272.61 $405,611.11
173 $405,611.11 $1,400.67 $0.00 $2,293.38 $409,305.16
174 $409,305.16 $1,400.67 $0.00 $2,314.27 $413,020.10
175 $413,020.10 $1,400.67 $0.00 $2,335.28 $416,756.05
176 $416,756.05 $1,400.67 $0.00 $2,356.40 $420,513.12
177 $420,513.12 $1,400.67 $0.00 $2,377.64 $424,291.43
178 $424,291.43 $1,400.67 $0.00 $2,399.01 $428,091.11
179 $428,091.11 $1,400.67 $0.00 $2,420.49 $431,912.27
180 $431,912.27 $1,400.67 $0.00 $2,442.09 $435,755.03
181 $435,755.03 $1,400.67 $0.00 $2,463.82 $439,619.52
182 $439,619.52 $1,400.67 $0.00 $2,485.67 $443,505.86
183 $443,505.86 $1,400.67 $0.00 $2,507.65 $447,414.18
184 $447,414.18 $1,400.67 $0.00 $2,529.74 $451,344.59
185 $451,344.59 $1,400.67 $0.00 $2,551.97 $455,297.23
186 $455,297.23 $1,400.67 $0.00 $2,574.32 $459,272.22
187 $459,272.22 $1,400.67 $0.00 $2,596.79 $463,269.68
188 $463,269.68 $1,400.67 $0.00 $2,619.39 $467,289.74
189 $467,289.74 $1,400.67 $0.00 $2,642.12 $471,332.53
190 $471,332.53 $1,400.67 $0.00 $2,664.98 $475,398.18
191 $475,398.18 $1,400.67 $0.00 $2,687.97 $479,486.82
192 $479,486.82 $1,400.67 $0.00 $2,711.09 $483,598.58
193 $483,598.58 $1,400.67 $0.00 $2,734.34 $487,733.59
194 $487,733.59 $1,400.67 $0.00 $2,757.72 $491,891.98
195 $491,891.98 $1,400.67 $0.00 $2,781.23 $496,073.88
196 $496,073.88 $1,400.67 $0.00 $2,804.87 $500,279.42
197 $500,279.42 $1,400.67 $0.00 $2,828.65 $504,508.74
198 $504,508.74 $1,400.67 $0.00 $2,852.57 $508,761.98
199 $508,761.98 $1,400.67 $0.00 $2,876.61 $513,039.26
200 $513,039.26 $1,400.67 $0.00 $2,900.80 $517,340.73
201 $517,340.73 $1,400.67 $0.00 $2,925.12 $521,666.52
202 $521,666.52 $1,400.67 $0.00 $2,949.58 $526,016.77
203 $526,016.77 $1,400.67 $0.00 $2,974.18 $530,391.62
204 $530,391.62 $1,400.67 $0.00 $2,998.91 $534,791.20
205 $534,791.20 $1,400.67 $0.00 $3,023.79 $539,215.66
206 $539,215.66 $1,400.67 $0.00 $3,048.80 $543,665.13
207 $543,665.13 $1,400.67 $0.00 $3,073.96 $548,139.76
208 $548,139.76 $1,400.67 $0.00 $3,099.26 $552,639.69
209 $552,639.69 $1,400.67 $0.00 $3,124.71 $557,165.07
210 $557,165.07 $1,400.67 $0.00 $3,150.29 $561,716.03
211 $561,716.03 $1,400.67 $0.00 $3,176.02 $566,292.72
212 $566,292.72 $1,400.67 $0.00 $3,201.90 $570,895.29
213 $570,895.29 $1,400.67 $0.00 $3,227.92 $575,523.88
214 $575,523.88 $1,400.67 $0.00 $3,254.10 $580,178.65
215 $580,178.65 $1,400.67 $0.00 $3,280.41 $584,859.73
216 $584,859.73 $1,400.67 $0.00 $3,306.88 $589,567.28
217 $589,567.28 $1,400.67 $164,213.26 $3,333.50 $430,088.19
218 $430,088.19 $1,400.67 $0.00 $2,431.78 $433,920.64
219 $433,920.64 $1,400.67 $0.00 $2,453.45 $437,774.76
220 $437,774.76 $1,400.67 $0.00 $2,475.24 $441,650.67
221 $441,650.67 $1,400.67 $0.00 $2,497.16 $445,548.50
222 $445,548.50 $1,400.67 $0.00 $2,519.20 $449,468.37
223 $449,468.37 $1,400.67 $0.00 $2,541.36 $453,410.40
224 $453,410.40 $1,400.67 $0.00 $2,563.65 $457,374.72
225 $457,374.72 $1,400.67 $0.00 $2,586.06 $461,361.45
226 $461,361.45 $1,400.67 $0.00 $2,608.60 $465,370.72
227 $465,370.72 $1,400.67 $0.00 $2,631.27 $469,402.66
228 $469,402.66 $1,400.67 $0.00 $2,654.07 $473,457.40
229 $473,457.40 $1,400.67 $172,423.92 $2,677.00 $305,111.15
230 $305,111.15 $1,400.67 $0.00 $1,725.14 $308,236.96
231 $308,236.96 $1,400.67 $0.00 $1,742.82 $311,380.45
232 $311,380.45 $1,400.67 $0.00 $1,760.59 $314,541.71
233 $314,541.71 $1,400.67 $0.00 $1,778.46 $317,720.84
234 $317,720.84 $1,400.67 $0.00 $1,796.44 $320,917.95
235 $320,917.95 $1,400.67 $0.00 $1,814.52 $324,133.14
236 $324,133.14 $1,400.67 $0.00 $1,832.70 $327,366.51
237 $327,366.51 $1,400.67 $0.00 $1,850.98 $330,618.16
238 $330,618.16 $1,400.67 $0.00 $1,869.36 $333,888.19
239 $333,888.19 $1,400.67 $0.00 $1,887.85 $337,176.71
240 $337,176.71 $1,400.67 $0.00 $1,906.45 $340,483.83
241 $340,483.83 $1,400.67 $181,045.12 $1,925.15 $162,764.53
242 $162,764.53 $1,400.67 $0.00 $920.29 $165,085.49
243 $165,085.49 $1,400.67 $0.00 $933.42 $167,419.58
244 $167,419.58 $1,400.67 $0.00 $946.61 $169,766.86
245 $169,766.86 $1,400.67 $0.00 $959.89 $172,127.42
246 $172,127.42 $1,400.67 $0.00 $973.23 $174,501.32
247 $174,501.32 $1,400.67 $0.00 $986.66 $176,888.65
248 $176,888.65 $1,400.67 $0.00 $1,000.15 $179,289.47
249 $179,289.47 $1,400.67 $0.00 $1,013.73 $181,703.87
250 $181,703.87 $1,400.67 $0.00 $1,027.38 $184,131.92
251 $184,131.92 $1,400.67 $0.00 $1,041.11 $186,573.70
252 $186,573.70 $1,400.67 $0.00 $1,054.91 $189,029.28
253 $189,029.28 $0.00 $190,097.37 $1,068.80 $0.71