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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$67,410
Monthly savings required$534

How much will it cost to send your child to Morris College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $269,641.71 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $533.61 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$25,995.00
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 $533.61 $0.00 $0.00 $533.61
2 $533.61 $533.61 $0.00 $3.02 $1,070.24
3 $1,070.24 $533.61 $0.00 $6.05 $1,609.90
4 $1,609.90 $533.61 $0.00 $9.10 $2,152.61
5 $2,152.61 $533.61 $0.00 $12.17 $2,698.39
6 $2,698.39 $533.61 $0.00 $15.26 $3,247.26
7 $3,247.26 $533.61 $0.00 $18.36 $3,799.23
8 $3,799.23 $533.61 $0.00 $21.48 $4,354.32
9 $4,354.32 $533.61 $0.00 $24.62 $4,912.55
10 $4,912.55 $533.61 $0.00 $27.78 $5,473.94
11 $5,473.94 $533.61 $0.00 $30.95 $6,038.50
12 $6,038.50 $533.61 $0.00 $34.14 $6,606.25
13 $6,606.25 $533.61 $0.00 $37.35 $7,177.21
14 $7,177.21 $533.61 $0.00 $40.58 $7,751.40
15 $7,751.40 $533.61 $0.00 $43.83 $8,328.84
16 $8,328.84 $533.61 $0.00 $47.09 $8,909.54
17 $8,909.54 $533.61 $0.00 $50.38 $9,493.53
18 $9,493.53 $533.61 $0.00 $53.68 $10,080.82
19 $10,080.82 $533.61 $0.00 $57.00 $10,671.43
20 $10,671.43 $533.61 $0.00 $60.34 $11,265.38
21 $11,265.38 $533.61 $0.00 $63.70 $11,862.69
22 $11,862.69 $533.61 $0.00 $67.07 $12,463.37
23 $12,463.37 $533.61 $0.00 $70.47 $13,067.45
24 $13,067.45 $533.61 $0.00 $73.89 $13,674.95
25 $13,674.95 $533.61 $0.00 $77.32 $14,285.88
26 $14,285.88 $533.61 $0.00 $80.77 $14,900.26
27 $14,900.26 $533.61 $0.00 $84.25 $15,518.12
28 $15,518.12 $533.61 $0.00 $87.74 $16,139.47
29 $16,139.47 $533.61 $0.00 $91.25 $16,764.33
30 $16,764.33 $533.61 $0.00 $94.79 $17,392.73
31 $17,392.73 $533.61 $0.00 $98.34 $18,024.68
32 $18,024.68 $533.61 $0.00 $101.91 $18,660.20
33 $18,660.20 $533.61 $0.00 $105.51 $19,299.32
34 $19,299.32 $533.61 $0.00 $109.12 $19,942.05
35 $19,942.05 $533.61 $0.00 $112.76 $20,588.42
36 $20,588.42 $533.61 $0.00 $116.41 $21,238.44
37 $21,238.44 $533.61 $0.00 $120.09 $21,892.14
38 $21,892.14 $533.61 $0.00 $123.78 $22,549.53
39 $22,549.53 $533.61 $0.00 $127.50 $23,210.64
40 $23,210.64 $533.61 $0.00 $131.24 $23,875.49
41 $23,875.49 $533.61 $0.00 $135.00 $24,544.10
42 $24,544.10 $533.61 $0.00 $138.78 $25,216.49
43 $25,216.49 $533.61 $0.00 $142.58 $25,892.68
44 $25,892.68 $533.61 $0.00 $146.40 $26,572.69
45 $26,572.69 $533.61 $0.00 $150.25 $27,256.55
46 $27,256.55 $533.61 $0.00 $154.11 $27,944.27
47 $27,944.27 $533.61 $0.00 $158.00 $28,635.88
48 $28,635.88 $533.61 $0.00 $161.91 $29,331.40
49 $29,331.40 $533.61 $0.00 $165.84 $30,030.85
50 $30,030.85 $533.61 $0.00 $169.80 $30,734.26
51 $30,734.26 $533.61 $0.00 $173.78 $31,441.65
52 $31,441.65 $533.61 $0.00 $177.78 $32,153.04
53 $32,153.04 $533.61 $0.00 $181.80 $32,868.45
54 $32,868.45 $533.61 $0.00 $185.84 $33,587.90
55 $33,587.90 $533.61 $0.00 $189.91 $34,311.42
56 $34,311.42 $533.61 $0.00 $194.00 $35,039.03
57 $35,039.03 $533.61 $0.00 $198.12 $35,770.76
58 $35,770.76 $533.61 $0.00 $202.25 $36,506.62
59 $36,506.62 $533.61 $0.00 $206.41 $37,246.64
60 $37,246.64 $533.61 $0.00 $210.60 $37,990.85
61 $37,990.85 $533.61 $0.00 $214.81 $38,739.27
62 $38,739.27 $533.61 $0.00 $219.04 $39,491.92
63 $39,491.92 $533.61 $0.00 $223.29 $40,248.82
64 $40,248.82 $533.61 $0.00 $227.57 $41,010.00
65 $41,010.00 $533.61 $0.00 $231.88 $41,775.49
66 $41,775.49 $533.61 $0.00 $236.20 $42,545.30
67 $42,545.30 $533.61 $0.00 $240.56 $43,319.47
68 $43,319.47 $533.61 $0.00 $244.93 $44,098.01
69 $44,098.01 $533.61 $0.00 $249.34 $44,880.96
70 $44,880.96 $533.61 $0.00 $253.76 $45,668.33
71 $45,668.33 $533.61 $0.00 $258.22 $46,460.16
72 $46,460.16 $533.61 $0.00 $262.69 $47,256.46
73 $47,256.46 $533.61 $0.00 $267.19 $48,057.26
74 $48,057.26 $533.61 $0.00 $271.72 $48,862.59
75 $48,862.59 $533.61 $0.00 $276.28 $49,672.48
76 $49,672.48 $533.61 $0.00 $280.86 $50,486.95
77 $50,486.95 $533.61 $0.00 $285.46 $51,306.02
78 $51,306.02 $533.61 $0.00 $290.09 $52,129.72
79 $52,129.72 $533.61 $0.00 $294.75 $52,958.08
80 $52,958.08 $533.61 $0.00 $299.43 $53,791.12
81 $53,791.12 $533.61 $0.00 $304.14 $54,628.87
82 $54,628.87 $533.61 $0.00 $308.88 $55,471.36
83 $55,471.36 $533.61 $0.00 $313.64 $56,318.61
84 $56,318.61 $533.61 $0.00 $318.43 $57,170.65
85 $57,170.65 $533.61 $0.00 $323.25 $58,027.51
86 $58,027.51 $533.61 $0.00 $328.10 $58,889.22
87 $58,889.22 $533.61 $0.00 $332.97 $59,755.80
88 $59,755.80 $533.61 $0.00 $337.87 $60,627.28
89 $60,627.28 $533.61 $0.00 $342.80 $61,503.69
90 $61,503.69 $533.61 $0.00 $347.75 $62,385.05
91 $62,385.05 $533.61 $0.00 $352.73 $63,271.39
92 $63,271.39 $533.61 $0.00 $357.75 $64,162.75
93 $64,162.75 $533.61 $0.00 $362.79 $65,059.15
94 $65,059.15 $533.61 $0.00 $367.85 $65,960.61
95 $65,960.61 $533.61 $0.00 $372.95 $66,867.17
96 $66,867.17 $533.61 $0.00 $378.08 $67,778.86
97 $67,778.86 $533.61 $0.00 $383.23 $68,695.70
98 $68,695.70 $533.61 $0.00 $388.42 $69,617.73
99 $69,617.73 $533.61 $0.00 $393.63 $70,544.97
100 $70,544.97 $533.61 $0.00 $398.87 $71,477.45
101 $71,477.45 $533.61 $0.00 $404.14 $72,415.20
102 $72,415.20 $533.61 $0.00 $409.45 $73,358.26
103 $73,358.26 $533.61 $0.00 $414.78 $74,306.65
104 $74,306.65 $533.61 $0.00 $420.14 $75,260.40
105 $75,260.40 $533.61 $0.00 $425.53 $76,219.54
106 $76,219.54 $533.61 $0.00 $430.96 $77,184.11
107 $77,184.11 $533.61 $0.00 $436.41 $78,154.13
108 $78,154.13 $533.61 $0.00 $441.89 $79,129.63
109 $79,129.63 $533.61 $0.00 $447.41 $80,110.65
110 $80,110.65 $533.61 $0.00 $452.96 $81,097.22
111 $81,097.22 $533.61 $0.00 $458.54 $82,089.37
112 $82,089.37 $533.61 $0.00 $464.15 $83,087.13
113 $83,087.13 $533.61 $0.00 $469.79 $84,090.53
114 $84,090.53 $533.61 $0.00 $475.46 $85,099.60
115 $85,099.60 $533.61 $0.00 $481.17 $86,114.38
116 $86,114.38 $533.61 $0.00 $486.90 $87,134.89
117 $87,134.89 $533.61 $0.00 $492.67 $88,161.17
118 $88,161.17 $533.61 $0.00 $498.48 $89,193.26
119 $89,193.26 $533.61 $0.00 $504.31 $90,231.18
120 $90,231.18 $533.61 $0.00 $510.18 $91,274.97
121 $91,274.97 $533.61 $0.00 $516.08 $92,324.66
122 $92,324.66 $533.61 $0.00 $522.02 $93,380.29
123 $93,380.29 $533.61 $0.00 $527.99 $94,441.89
124 $94,441.89 $533.61 $0.00 $533.99 $95,509.49
125 $95,509.49 $533.61 $0.00 $540.02 $96,583.12
126 $96,583.12 $533.61 $0.00 $546.10 $97,662.83
127 $97,662.83 $533.61 $0.00 $552.20 $98,748.64
128 $98,748.64 $533.61 $0.00 $558.34 $99,840.59
129 $99,840.59 $533.61 $0.00 $564.51 $100,938.71
130 $100,938.71 $533.61 $0.00 $570.72 $102,043.04
131 $102,043.04 $533.61 $0.00 $576.97 $103,153.62
132 $103,153.62 $533.61 $0.00 $583.25 $104,270.48
133 $104,270.48 $533.61 $0.00 $589.56 $105,393.65
134 $105,393.65 $533.61 $0.00 $595.91 $106,523.17
135 $106,523.17 $533.61 $0.00 $602.30 $107,659.08
136 $107,659.08 $533.61 $0.00 $608.72 $108,801.41
137 $108,801.41 $533.61 $0.00 $615.18 $109,950.20
138 $109,950.20 $533.61 $0.00 $621.67 $111,105.48
139 $111,105.48 $533.61 $0.00 $628.21 $112,267.30
140 $112,267.30 $533.61 $0.00 $634.78 $113,435.69
141 $113,435.69 $533.61 $0.00 $641.38 $114,610.68
142 $114,610.68 $533.61 $0.00 $648.03 $115,792.32
143 $115,792.32 $533.61 $0.00 $654.71 $116,980.64
144 $116,980.64 $533.61 $0.00 $661.43 $118,175.68
145 $118,175.68 $533.61 $0.00 $668.18 $119,377.47
146 $119,377.47 $533.61 $0.00 $674.98 $120,586.06
147 $120,586.06 $533.61 $0.00 $681.81 $121,801.48
148 $121,801.48 $533.61 $0.00 $688.68 $123,023.77
149 $123,023.77 $533.61 $0.00 $695.59 $124,252.97
150 $124,252.97 $533.61 $0.00 $702.54 $125,489.12
151 $125,489.12 $533.61 $0.00 $709.53 $126,732.26
152 $126,732.26 $533.61 $0.00 $716.56 $127,982.43
153 $127,982.43 $533.61 $0.00 $723.63 $129,239.67
154 $129,239.67 $533.61 $0.00 $730.74 $130,504.02
155 $130,504.02 $533.61 $0.00 $737.89 $131,775.52
156 $131,775.52 $533.61 $0.00 $745.08 $133,054.21
157 $133,054.21 $533.61 $0.00 $752.31 $134,340.13
158 $134,340.13 $533.61 $0.00 $759.58 $135,633.32
159 $135,633.32 $533.61 $0.00 $766.89 $136,933.82
160 $136,933.82 $533.61 $0.00 $774.24 $138,241.67
161 $138,241.67 $533.61 $0.00 $781.64 $139,556.92
162 $139,556.92 $533.61 $0.00 $789.08 $140,879.61
163 $140,879.61 $533.61 $0.00 $796.55 $142,209.77
164 $142,209.77 $533.61 $0.00 $804.07 $143,547.45
165 $143,547.45 $533.61 $0.00 $811.64 $144,892.70
166 $144,892.70 $533.61 $0.00 $819.24 $146,245.55
167 $146,245.55 $533.61 $0.00 $826.89 $147,606.05
168 $147,606.05 $533.61 $0.00 $834.59 $148,974.25
169 $148,974.25 $533.61 $0.00 $842.32 $150,350.18
170 $150,350.18 $533.61 $0.00 $850.10 $151,733.89
171 $151,733.89 $533.61 $0.00 $857.93 $153,125.43
172 $153,125.43 $533.61 $0.00 $865.79 $154,524.83
173 $154,524.83 $533.61 $0.00 $873.71 $155,932.15
174 $155,932.15 $533.61 $0.00 $881.66 $157,347.42
175 $157,347.42 $533.61 $0.00 $889.67 $158,770.70
176 $158,770.70 $533.61 $0.00 $897.71 $160,202.02
177 $160,202.02 $533.61 $0.00 $905.81 $161,641.44
178 $161,641.44 $533.61 $0.00 $913.94 $163,088.99
179 $163,088.99 $533.61 $0.00 $922.13 $164,544.73
180 $164,544.73 $533.61 $0.00 $930.36 $166,008.70
181 $166,008.70 $533.61 $0.00 $938.64 $167,480.95
182 $167,480.95 $533.61 $0.00 $946.96 $168,961.52
183 $168,961.52 $533.61 $0.00 $955.33 $170,450.46
184 $170,450.46 $533.61 $0.00 $963.75 $171,947.82
185 $171,947.82 $533.61 $0.00 $972.22 $173,453.65
186 $173,453.65 $533.61 $0.00 $980.73 $174,967.99
187 $174,967.99 $533.61 $0.00 $989.29 $176,490.89
188 $176,490.89 $533.61 $0.00 $997.91 $178,022.41
189 $178,022.41 $533.61 $0.00 $1,006.56 $179,562.58
190 $179,562.58 $533.61 $0.00 $1,015.27 $181,111.46
191 $181,111.46 $533.61 $0.00 $1,024.03 $182,669.10
192 $182,669.10 $533.61 $0.00 $1,032.84 $184,235.55
193 $184,235.55 $533.61 $0.00 $1,041.69 $185,810.85
194 $185,810.85 $533.61 $0.00 $1,050.60 $187,395.06
195 $187,395.06 $533.61 $0.00 $1,059.56 $188,988.23
196 $188,988.23 $533.61 $0.00 $1,068.57 $190,590.41
197 $190,590.41 $533.61 $0.00 $1,077.63 $192,201.65
198 $192,201.65 $533.61 $0.00 $1,086.74 $193,822.00
199 $193,822.00 $533.61 $0.00 $1,095.90 $195,451.51
200 $195,451.51 $533.61 $0.00 $1,105.11 $197,090.23
201 $197,090.23 $533.61 $0.00 $1,114.38 $198,738.22
202 $198,738.22 $533.61 $0.00 $1,123.69 $200,395.52
203 $200,395.52 $533.61 $0.00 $1,133.07 $202,062.20
204 $202,062.20 $533.61 $0.00 $1,142.49 $203,738.30
205 $203,738.30 $533.61 $0.00 $1,151.97 $205,423.88
206 $205,423.88 $533.61 $0.00 $1,161.50 $207,118.99
207 $207,118.99 $533.61 $0.00 $1,171.08 $208,823.68
208 $208,823.68 $533.61 $0.00 $1,180.72 $210,538.01
209 $210,538.01 $533.61 $0.00 $1,190.41 $212,262.03
210 $212,262.03 $533.61 $0.00 $1,200.16 $213,995.80
211 $213,995.80 $533.61 $0.00 $1,209.96 $215,739.37
212 $215,739.37 $533.61 $0.00 $1,219.82 $217,492.80
213 $217,492.80 $533.61 $0.00 $1,229.74 $219,256.15
214 $219,256.15 $533.61 $0.00 $1,239.71 $221,029.47
215 $221,029.47 $533.61 $0.00 $1,249.73 $222,812.81
216 $222,812.81 $533.61 $0.00 $1,259.82 $224,606.24
217 $224,606.24 $533.61 $62,560.07 $1,269.96 $163,849.74
218 $163,849.74 $533.61 $0.00 $926.43 $165,309.78
219 $165,309.78 $533.61 $0.00 $934.69 $166,778.08
220 $166,778.08 $533.61 $0.00 $942.99 $168,254.68
221 $168,254.68 $533.61 $0.00 $951.34 $169,739.63
222 $169,739.63 $533.61 $0.00 $959.73 $171,232.97
223 $171,232.97 $533.61 $0.00 $968.18 $172,734.76
224 $172,734.76 $533.61 $0.00 $976.67 $174,245.04
225 $174,245.04 $533.61 $0.00 $985.21 $175,763.86
226 $175,763.86 $533.61 $0.00 $993.79 $177,291.26
227 $177,291.26 $533.61 $0.00 $1,002.43 $178,827.30
228 $178,827.30 $533.61 $0.00 $1,011.12 $180,372.03
229 $180,372.03 $533.61 $65,688.07 $1,019.85 $116,237.42
230 $116,237.42 $533.61 $0.00 $657.22 $117,428.25
231 $117,428.25 $533.61 $0.00 $663.96 $118,625.82
232 $118,625.82 $533.61 $0.00 $670.73 $119,830.16
233 $119,830.16 $533.61 $0.00 $677.54 $121,041.31
234 $121,041.31 $533.61 $0.00 $684.39 $122,259.31
235 $122,259.31 $533.61 $0.00 $691.27 $123,484.19
236 $123,484.19 $533.61 $0.00 $698.20 $124,716.00
237 $124,716.00 $533.61 $0.00 $705.16 $125,954.77
238 $125,954.77 $533.61 $0.00 $712.17 $127,200.55
239 $127,200.55 $533.61 $0.00 $719.21 $128,453.37
240 $128,453.37 $533.61 $0.00 $726.29 $129,713.27
241 $129,713.27 $533.61 $68,972.47 $733.42 $62,007.83
242 $62,007.83 $533.61 $0.00 $350.60 $62,892.04
243 $62,892.04 $533.61 $0.00 $355.60 $63,781.25
244 $63,781.25 $533.61 $0.00 $360.63 $64,675.49
245 $64,675.49 $533.61 $0.00 $365.68 $65,574.78
246 $65,574.78 $533.61 $0.00 $370.77 $66,479.16
247 $66,479.16 $533.61 $0.00 $375.88 $67,388.65
248 $67,388.65 $533.61 $0.00 $381.03 $68,303.29
249 $68,303.29 $533.61 $0.00 $386.20 $69,223.10
250 $69,223.10 $533.61 $0.00 $391.40 $70,148.11
251 $70,148.11 $533.61 $0.00 $396.63 $71,078.35
252 $71,078.35 $533.61 $0.00 $401.89 $72,013.85
253 $72,013.85 $0.00 $72,421.10 $407.18 ($0.07)