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 2042$277,324
Monthly savings required$2,192

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 $1,109,295.76 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $2,191.75 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$73,920.00
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 $2,191.75 $0.00 $0.00 $2,191.75
2 $2,191.75 $2,191.75 $0.00 $12.39 $4,395.89
3 $4,395.89 $2,191.75 $0.00 $24.86 $6,612.50
4 $6,612.50 $2,191.75 $0.00 $37.39 $8,841.64
5 $8,841.64 $2,191.75 $0.00 $49.99 $11,083.38
6 $11,083.38 $2,191.75 $0.00 $62.67 $13,337.80
7 $13,337.80 $2,191.75 $0.00 $75.41 $15,604.96
8 $15,604.96 $2,191.75 $0.00 $88.23 $17,884.94
9 $17,884.94 $2,191.75 $0.00 $101.12 $20,177.81
10 $20,177.81 $2,191.75 $0.00 $114.09 $22,483.65
11 $22,483.65 $2,191.75 $0.00 $127.13 $24,802.53
12 $24,802.53 $2,191.75 $0.00 $140.24 $27,134.52
13 $27,134.52 $2,191.75 $0.00 $153.42 $29,479.69
14 $29,479.69 $2,191.75 $0.00 $166.68 $31,838.12
15 $31,838.12 $2,191.75 $0.00 $180.02 $34,209.89
16 $34,209.89 $2,191.75 $0.00 $193.43 $36,595.07
17 $36,595.07 $2,191.75 $0.00 $206.91 $38,993.73
18 $38,993.73 $2,191.75 $0.00 $220.48 $41,405.96
19 $41,405.96 $2,191.75 $0.00 $234.12 $43,831.83
20 $43,831.83 $2,191.75 $0.00 $247.83 $46,271.41
21 $46,271.41 $2,191.75 $0.00 $261.63 $48,724.79
22 $48,724.79 $2,191.75 $0.00 $275.50 $51,192.04
23 $51,192.04 $2,191.75 $0.00 $289.45 $53,673.24
24 $53,673.24 $2,191.75 $0.00 $303.48 $56,168.47
25 $56,168.47 $2,191.75 $0.00 $317.58 $58,677.80
26 $58,677.80 $2,191.75 $0.00 $331.77 $61,201.32
27 $61,201.32 $2,191.75 $0.00 $346.04 $63,739.11
28 $63,739.11 $2,191.75 $0.00 $360.39 $66,291.25
29 $66,291.25 $2,191.75 $0.00 $374.82 $68,857.82
30 $68,857.82 $2,191.75 $0.00 $389.33 $71,438.90
31 $71,438.90 $2,191.75 $0.00 $403.93 $74,034.58
32 $74,034.58 $2,191.75 $0.00 $418.60 $76,644.93
33 $76,644.93 $2,191.75 $0.00 $433.36 $79,270.04
34 $79,270.04 $2,191.75 $0.00 $448.20 $81,909.99
35 $81,909.99 $2,191.75 $0.00 $463.13 $84,564.87
36 $84,564.87 $2,191.75 $0.00 $478.14 $87,234.76
37 $87,234.76 $2,191.75 $0.00 $493.24 $89,919.75
38 $89,919.75 $2,191.75 $0.00 $508.42 $92,619.92
39 $92,619.92 $2,191.75 $0.00 $523.69 $95,335.36
40 $95,335.36 $2,191.75 $0.00 $539.04 $98,066.15
41 $98,066.15 $2,191.75 $0.00 $554.48 $100,812.38
42 $100,812.38 $2,191.75 $0.00 $570.01 $103,574.14
43 $103,574.14 $2,191.75 $0.00 $585.62 $106,351.51
44 $106,351.51 $2,191.75 $0.00 $601.33 $109,144.59
45 $109,144.59 $2,191.75 $0.00 $617.12 $111,953.46
46 $111,953.46 $2,191.75 $0.00 $633.00 $114,778.21
47 $114,778.21 $2,191.75 $0.00 $648.97 $117,618.93
48 $117,618.93 $2,191.75 $0.00 $665.03 $120,475.71
49 $120,475.71 $2,191.75 $0.00 $681.19 $123,348.65
50 $123,348.65 $2,191.75 $0.00 $697.43 $126,237.83
51 $126,237.83 $2,191.75 $0.00 $713.77 $129,143.35
52 $129,143.35 $2,191.75 $0.00 $730.20 $132,065.30
53 $132,065.30 $2,191.75 $0.00 $746.72 $135,003.77
54 $135,003.77 $2,191.75 $0.00 $763.33 $137,958.85
55 $137,958.85 $2,191.75 $0.00 $780.04 $140,930.64
56 $140,930.64 $2,191.75 $0.00 $796.84 $143,919.23
57 $143,919.23 $2,191.75 $0.00 $813.74 $146,924.72
58 $146,924.72 $2,191.75 $0.00 $830.73 $149,947.20
59 $149,947.20 $2,191.75 $0.00 $847.82 $152,986.77
60 $152,986.77 $2,191.75 $0.00 $865.01 $156,043.53
61 $156,043.53 $2,191.75 $0.00 $882.29 $159,117.57
62 $159,117.57 $2,191.75 $0.00 $899.67 $162,208.99
63 $162,208.99 $2,191.75 $0.00 $917.15 $165,317.89
64 $165,317.89 $2,191.75 $0.00 $934.73 $168,444.37
65 $168,444.37 $2,191.75 $0.00 $952.41 $171,588.53
66 $171,588.53 $2,191.75 $0.00 $970.19 $174,750.47
67 $174,750.47 $2,191.75 $0.00 $988.06 $177,930.28
68 $177,930.28 $2,191.75 $0.00 $1,006.04 $181,128.07
69 $181,128.07 $2,191.75 $0.00 $1,024.12 $184,343.94
70 $184,343.94 $2,191.75 $0.00 $1,042.31 $187,578.00
71 $187,578.00 $2,191.75 $0.00 $1,060.59 $190,830.34
72 $190,830.34 $2,191.75 $0.00 $1,078.98 $194,101.07
73 $194,101.07 $2,191.75 $0.00 $1,097.48 $197,390.30
74 $197,390.30 $2,191.75 $0.00 $1,116.07 $200,698.12
75 $200,698.12 $2,191.75 $0.00 $1,134.78 $204,024.65
76 $204,024.65 $2,191.75 $0.00 $1,153.59 $207,369.99
77 $207,369.99 $2,191.75 $0.00 $1,172.50 $210,734.24
78 $210,734.24 $2,191.75 $0.00 $1,191.52 $214,117.51
79 $214,117.51 $2,191.75 $0.00 $1,210.65 $217,519.91
80 $217,519.91 $2,191.75 $0.00 $1,229.89 $220,941.55
81 $220,941.55 $2,191.75 $0.00 $1,249.24 $224,382.54
82 $224,382.54 $2,191.75 $0.00 $1,268.69 $227,842.98
83 $227,842.98 $2,191.75 $0.00 $1,288.26 $231,322.99
84 $231,322.99 $2,191.75 $0.00 $1,307.93 $234,822.67
85 $234,822.67 $2,191.75 $0.00 $1,327.72 $238,342.14
86 $238,342.14 $2,191.75 $0.00 $1,347.62 $241,881.51
87 $241,881.51 $2,191.75 $0.00 $1,367.63 $245,440.89
88 $245,440.89 $2,191.75 $0.00 $1,387.76 $249,020.40
89 $249,020.40 $2,191.75 $0.00 $1,408.00 $252,620.15
90 $252,620.15 $2,191.75 $0.00 $1,428.35 $256,240.25
91 $256,240.25 $2,191.75 $0.00 $1,448.82 $259,880.82
92 $259,880.82 $2,191.75 $0.00 $1,469.40 $263,541.97
93 $263,541.97 $2,191.75 $0.00 $1,490.10 $267,223.82
94 $267,223.82 $2,191.75 $0.00 $1,510.92 $270,926.49
95 $270,926.49 $2,191.75 $0.00 $1,531.86 $274,650.10
96 $274,650.10 $2,191.75 $0.00 $1,552.91 $278,394.76
97 $278,394.76 $2,191.75 $0.00 $1,574.08 $282,160.59
98 $282,160.59 $2,191.75 $0.00 $1,595.38 $285,947.72
99 $285,947.72 $2,191.75 $0.00 $1,616.79 $289,756.26
100 $289,756.26 $2,191.75 $0.00 $1,638.32 $293,586.33
101 $293,586.33 $2,191.75 $0.00 $1,659.98 $297,438.06
102 $297,438.06 $2,191.75 $0.00 $1,681.76 $301,311.57
103 $301,311.57 $2,191.75 $0.00 $1,703.66 $305,206.98
104 $305,206.98 $2,191.75 $0.00 $1,725.68 $309,124.41
105 $309,124.41 $2,191.75 $0.00 $1,747.83 $313,063.99
106 $313,063.99 $2,191.75 $0.00 $1,770.11 $317,025.85
107 $317,025.85 $2,191.75 $0.00 $1,792.51 $321,010.11
108 $321,010.11 $2,191.75 $0.00 $1,815.04 $325,016.90
109 $325,016.90 $2,191.75 $0.00 $1,837.69 $329,046.34
110 $329,046.34 $2,191.75 $0.00 $1,860.48 $333,098.57
111 $333,098.57 $2,191.75 $0.00 $1,883.39 $337,173.71
112 $337,173.71 $2,191.75 $0.00 $1,906.43 $341,271.89
113 $341,271.89 $2,191.75 $0.00 $1,929.60 $345,393.24
114 $345,393.24 $2,191.75 $0.00 $1,952.90 $349,537.89
115 $349,537.89 $2,191.75 $0.00 $1,976.34 $353,705.98
116 $353,705.98 $2,191.75 $0.00 $1,999.91 $357,897.64
117 $357,897.64 $2,191.75 $0.00 $2,023.61 $362,113.00
118 $362,113.00 $2,191.75 $0.00 $2,047.44 $366,352.19
119 $366,352.19 $2,191.75 $0.00 $2,071.41 $370,615.35
120 $370,615.35 $2,191.75 $0.00 $2,095.51 $374,902.61
121 $374,902.61 $2,191.75 $0.00 $2,119.75 $379,214.11
122 $379,214.11 $2,191.75 $0.00 $2,144.13 $383,549.99
123 $383,549.99 $2,191.75 $0.00 $2,168.65 $387,910.39
124 $387,910.39 $2,191.75 $0.00 $2,193.30 $392,295.44
125 $392,295.44 $2,191.75 $0.00 $2,218.10 $396,705.29
126 $396,705.29 $2,191.75 $0.00 $2,243.03 $401,140.07
127 $401,140.07 $2,191.75 $0.00 $2,268.10 $405,599.92
128 $405,599.92 $2,191.75 $0.00 $2,293.32 $410,084.99
129 $410,084.99 $2,191.75 $0.00 $2,318.68 $414,595.42
130 $414,595.42 $2,191.75 $0.00 $2,344.18 $419,131.35
131 $419,131.35 $2,191.75 $0.00 $2,369.83 $423,692.93
132 $423,692.93 $2,191.75 $0.00 $2,395.62 $428,280.30
133 $428,280.30 $2,191.75 $0.00 $2,421.56 $432,893.61
134 $432,893.61 $2,191.75 $0.00 $2,447.64 $437,533.00
135 $437,533.00 $2,191.75 $0.00 $2,473.88 $442,198.63
136 $442,198.63 $2,191.75 $0.00 $2,500.26 $446,890.64
137 $446,890.64 $2,191.75 $0.00 $2,526.78 $451,609.17
138 $451,609.17 $2,191.75 $0.00 $2,553.46 $456,354.38
139 $456,354.38 $2,191.75 $0.00 $2,580.29 $461,126.42
140 $461,126.42 $2,191.75 $0.00 $2,607.28 $465,925.45
141 $465,925.45 $2,191.75 $0.00 $2,634.41 $470,751.61
142 $470,751.61 $2,191.75 $0.00 $2,661.70 $475,605.06
143 $475,605.06 $2,191.75 $0.00 $2,689.14 $480,485.95
144 $480,485.95 $2,191.75 $0.00 $2,716.74 $485,394.44
145 $485,394.44 $2,191.75 $0.00 $2,744.49 $490,330.68
146 $490,330.68 $2,191.75 $0.00 $2,772.40 $495,294.83
147 $495,294.83 $2,191.75 $0.00 $2,800.47 $500,287.05
148 $500,287.05 $2,191.75 $0.00 $2,828.70 $505,307.50
149 $505,307.50 $2,191.75 $0.00 $2,857.08 $510,356.33
150 $510,356.33 $2,191.75 $0.00 $2,885.63 $515,433.71
151 $515,433.71 $2,191.75 $0.00 $2,914.34 $520,539.80
152 $520,539.80 $2,191.75 $0.00 $2,943.21 $525,674.76
153 $525,674.76 $2,191.75 $0.00 $2,972.24 $530,838.75
154 $530,838.75 $2,191.75 $0.00 $3,001.44 $536,031.94
155 $536,031.94 $2,191.75 $0.00 $3,030.80 $541,254.49
156 $541,254.49 $2,191.75 $0.00 $3,060.33 $546,506.57
157 $546,506.57 $2,191.75 $0.00 $3,090.03 $551,788.35
158 $551,788.35 $2,191.75 $0.00 $3,119.89 $557,099.99
159 $557,099.99 $2,191.75 $0.00 $3,149.92 $562,441.66
160 $562,441.66 $2,191.75 $0.00 $3,180.13 $567,813.54
161 $567,813.54 $2,191.75 $0.00 $3,210.50 $573,215.79
162 $573,215.79 $2,191.75 $0.00 $3,241.05 $578,648.59
163 $578,648.59 $2,191.75 $0.00 $3,271.76 $584,112.10
164 $584,112.10 $2,191.75 $0.00 $3,302.65 $589,606.50
165 $589,606.50 $2,191.75 $0.00 $3,333.72 $595,131.97
166 $595,131.97 $2,191.75 $0.00 $3,364.96 $600,688.68
167 $600,688.68 $2,191.75 $0.00 $3,396.38 $606,276.81
168 $606,276.81 $2,191.75 $0.00 $3,427.98 $611,896.54
169 $611,896.54 $2,191.75 $0.00 $3,459.75 $617,548.04
170 $617,548.04 $2,191.75 $0.00 $3,491.71 $623,231.50
171 $623,231.50 $2,191.75 $0.00 $3,523.84 $628,947.09
172 $628,947.09 $2,191.75 $0.00 $3,556.16 $634,695.00
173 $634,695.00 $2,191.75 $0.00 $3,588.66 $640,475.41
174 $640,475.41 $2,191.75 $0.00 $3,621.34 $646,288.50
175 $646,288.50 $2,191.75 $0.00 $3,654.21 $652,134.46
176 $652,134.46 $2,191.75 $0.00 $3,687.26 $658,013.47
177 $658,013.47 $2,191.75 $0.00 $3,720.50 $663,925.72
178 $663,925.72 $2,191.75 $0.00 $3,753.93 $669,871.40
179 $669,871.40 $2,191.75 $0.00 $3,787.55 $675,850.70
180 $675,850.70 $2,191.75 $0.00 $3,821.36 $681,863.81
181 $681,863.81 $2,191.75 $0.00 $3,855.36 $687,910.92
182 $687,910.92 $2,191.75 $0.00 $3,889.55 $693,992.22
183 $693,992.22 $2,191.75 $0.00 $3,923.93 $700,107.90
184 $700,107.90 $2,191.75 $0.00 $3,958.51 $706,258.16
185 $706,258.16 $2,191.75 $0.00 $3,993.29 $712,443.20
186 $712,443.20 $2,191.75 $0.00 $4,028.26 $718,663.21
187 $718,663.21 $2,191.75 $0.00 $4,063.43 $724,918.39
188 $724,918.39 $2,191.75 $0.00 $4,098.79 $731,208.93
189 $731,208.93 $2,191.75 $0.00 $4,134.36 $737,535.04
190 $737,535.04 $2,191.75 $0.00 $4,170.13 $743,896.92
191 $743,896.92 $2,191.75 $0.00 $4,206.10 $750,294.77
192 $750,294.77 $2,191.75 $0.00 $4,242.28 $756,728.80
193 $756,728.80 $2,191.75 $0.00 $4,278.65 $763,199.20
194 $763,199.20 $2,191.75 $0.00 $4,315.24 $769,706.19
195 $769,706.19 $2,191.75 $0.00 $4,352.03 $776,249.97
196 $776,249.97 $2,191.75 $0.00 $4,389.03 $782,830.75
197 $782,830.75 $2,191.75 $0.00 $4,426.24 $789,448.74
198 $789,448.74 $2,191.75 $0.00 $4,463.66 $796,104.15
199 $796,104.15 $2,191.75 $0.00 $4,501.29 $802,797.19
200 $802,797.19 $2,191.75 $0.00 $4,539.13 $809,528.07
201 $809,528.07 $2,191.75 $0.00 $4,577.19 $816,297.01
202 $816,297.01 $2,191.75 $0.00 $4,615.46 $823,104.22
203 $823,104.22 $2,191.75 $0.00 $4,653.95 $829,949.92
204 $829,949.92 $2,191.75 $0.00 $4,692.66 $836,834.33
205 $836,834.33 $2,191.75 $0.00 $4,731.58 $843,757.66
206 $843,757.66 $2,191.75 $0.00 $4,770.73 $850,720.14
207 $850,720.14 $2,191.75 $0.00 $4,810.10 $857,721.99
208 $857,721.99 $2,191.75 $0.00 $4,849.68 $864,763.42
209 $864,763.42 $2,191.75 $0.00 $4,889.50 $871,844.67
210 $871,844.67 $2,191.75 $0.00 $4,929.54 $878,965.96
211 $878,965.96 $2,191.75 $0.00 $4,969.80 $886,127.51
212 $886,127.51 $2,191.75 $0.00 $5,010.29 $893,329.55
213 $893,329.55 $2,191.75 $0.00 $5,051.02 $900,572.32
214 $900,572.32 $2,191.75 $0.00 $5,091.97 $907,856.04
215 $907,856.04 $2,191.75 $0.00 $5,133.15 $915,180.94
216 $915,180.94 $2,191.75 $0.00 $5,174.57 $922,547.26
217 $922,547.26 $2,191.75 $249,844.59 $5,216.22 $680,110.64
218 $680,110.64 $2,191.75 $0.00 $3,845.44 $686,147.83
219 $686,147.83 $2,191.75 $0.00 $3,879.58 $692,219.16
220 $692,219.16 $2,191.75 $0.00 $3,913.91 $698,324.82
221 $698,324.82 $2,191.75 $0.00 $3,948.43 $704,465.00
222 $704,465.00 $2,191.75 $0.00 $3,983.15 $710,639.90
223 $710,639.90 $2,191.75 $0.00 $4,018.06 $716,849.71
224 $716,849.71 $2,191.75 $0.00 $4,053.17 $723,094.63
225 $723,094.63 $2,191.75 $0.00 $4,088.48 $729,374.86
226 $729,374.86 $2,191.75 $0.00 $4,123.99 $735,690.60
227 $735,690.60 $2,191.75 $0.00 $4,159.70 $742,042.05
228 $742,042.05 $2,191.75 $0.00 $4,195.61 $748,429.41
229 $748,429.41 $2,191.75 $267,333.72 $4,231.73 $487,519.17
230 $487,519.17 $2,191.75 $0.00 $2,756.50 $492,467.42
231 $492,467.42 $2,191.75 $0.00 $2,784.48 $497,443.65
232 $497,443.65 $2,191.75 $0.00 $2,812.62 $502,448.02
233 $502,448.02 $2,191.75 $0.00 $2,840.91 $507,480.68
234 $507,480.68 $2,191.75 $0.00 $2,869.37 $512,541.80
235 $512,541.80 $2,191.75 $0.00 $2,897.99 $517,631.54
236 $517,631.54 $2,191.75 $0.00 $2,926.76 $522,750.05
237 $522,750.05 $2,191.75 $0.00 $2,955.70 $527,897.50
238 $527,897.50 $2,191.75 $0.00 $2,984.81 $533,074.06
239 $533,074.06 $2,191.75 $0.00 $3,014.08 $538,279.89
240 $538,279.89 $2,191.75 $0.00 $3,043.51 $543,515.15
241 $543,515.15 $2,191.75 $286,047.08 $3,073.11 $262,732.93
242 $262,732.93 $2,191.75 $0.00 $1,485.53 $266,410.21
243 $266,410.21 $2,191.75 $0.00 $1,506.32 $270,108.28
244 $270,108.28 $2,191.75 $0.00 $1,527.23 $273,827.26
245 $273,827.26 $2,191.75 $0.00 $1,548.26 $277,567.27
246 $277,567.27 $2,191.75 $0.00 $1,569.41 $281,328.43
247 $281,328.43 $2,191.75 $0.00 $1,590.67 $285,110.85
248 $285,110.85 $2,191.75 $0.00 $1,612.06 $288,914.66
249 $288,914.66 $2,191.75 $0.00 $1,633.57 $292,739.98
250 $292,739.98 $2,191.75 $0.00 $1,655.19 $296,586.92
251 $296,586.92 $2,191.75 $0.00 $1,676.95 $300,455.62
252 $300,455.62 $2,191.75 $0.00 $1,698.82 $304,346.19
253 $304,346.19 $0.00 $306,070.37 $1,720.82 -$3.36