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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$75,042
Monthly savings required$594

How much will it cost to send your child to Winthrop University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $300,168.95 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $594.02 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$28,938.00
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 $594.02 $0.00 $0.00 $594.02
2 $594.02 $594.02 $0.00 $3.36 $1,191.40
3 $1,191.40 $594.02 $0.00 $6.74 $1,792.16
4 $1,792.16 $594.02 $0.00 $10.13 $2,396.31
5 $2,396.31 $594.02 $0.00 $13.55 $3,003.88
6 $3,003.88 $594.02 $0.00 $16.98 $3,614.88
7 $3,614.88 $594.02 $0.00 $20.44 $4,229.34
8 $4,229.34 $594.02 $0.00 $23.91 $4,847.27
9 $4,847.27 $594.02 $0.00 $27.41 $5,468.70
10 $5,468.70 $594.02 $0.00 $30.92 $6,093.64
11 $6,093.64 $594.02 $0.00 $34.45 $6,722.11
12 $6,722.11 $594.02 $0.00 $38.01 $7,354.14
13 $7,354.14 $594.02 $0.00 $41.58 $7,989.74
14 $7,989.74 $594.02 $0.00 $45.18 $8,628.94
15 $8,628.94 $594.02 $0.00 $48.79 $9,271.75
16 $9,271.75 $594.02 $0.00 $52.42 $9,918.19
17 $9,918.19 $594.02 $0.00 $56.08 $10,568.29
18 $10,568.29 $594.02 $0.00 $59.75 $11,222.06
19 $11,222.06 $594.02 $0.00 $63.45 $11,879.53
20 $11,879.53 $594.02 $0.00 $67.17 $12,540.72
21 $12,540.72 $594.02 $0.00 $70.91 $13,205.65
22 $13,205.65 $594.02 $0.00 $74.67 $13,874.34
23 $13,874.34 $594.02 $0.00 $78.45 $14,546.81
24 $14,546.81 $594.02 $0.00 $82.25 $15,223.08
25 $15,223.08 $594.02 $0.00 $86.07 $15,903.17
26 $15,903.17 $594.02 $0.00 $89.92 $16,587.11
27 $16,587.11 $594.02 $0.00 $93.79 $17,274.92
28 $17,274.92 $594.02 $0.00 $97.67 $17,966.61
29 $17,966.61 $594.02 $0.00 $101.59 $18,662.22
30 $18,662.22 $594.02 $0.00 $105.52 $19,361.76
31 $19,361.76 $594.02 $0.00 $109.47 $20,065.25
32 $20,065.25 $594.02 $0.00 $113.45 $20,772.72
33 $20,772.72 $594.02 $0.00 $117.45 $21,484.19
34 $21,484.19 $594.02 $0.00 $121.47 $22,199.68
35 $22,199.68 $594.02 $0.00 $125.52 $22,919.22
36 $22,919.22 $594.02 $0.00 $129.59 $23,642.83
37 $23,642.83 $594.02 $0.00 $133.68 $24,370.53
38 $24,370.53 $594.02 $0.00 $137.79 $25,102.34
39 $25,102.34 $594.02 $0.00 $141.93 $25,838.29
40 $25,838.29 $594.02 $0.00 $146.09 $26,578.40
41 $26,578.40 $594.02 $0.00 $150.28 $27,322.70
42 $27,322.70 $594.02 $0.00 $154.49 $28,071.21
43 $28,071.21 $594.02 $0.00 $158.72 $28,823.95
44 $28,823.95 $594.02 $0.00 $162.97 $29,580.94
45 $29,580.94 $594.02 $0.00 $167.25 $30,342.21
46 $30,342.21 $594.02 $0.00 $171.56 $31,107.79
47 $31,107.79 $594.02 $0.00 $175.89 $31,877.70
48 $31,877.70 $594.02 $0.00 $180.24 $32,651.96
49 $32,651.96 $594.02 $0.00 $184.62 $33,430.60
50 $33,430.60 $594.02 $0.00 $189.02 $34,213.64
51 $34,213.64 $594.02 $0.00 $193.45 $35,001.11
52 $35,001.11 $594.02 $0.00 $197.90 $35,793.03
53 $35,793.03 $594.02 $0.00 $202.38 $36,589.43
54 $36,589.43 $594.02 $0.00 $206.88 $37,390.33
55 $37,390.33 $594.02 $0.00 $211.41 $38,195.76
56 $38,195.76 $594.02 $0.00 $215.96 $39,005.74
57 $39,005.74 $594.02 $0.00 $220.54 $39,820.30
58 $39,820.30 $594.02 $0.00 $225.15 $40,639.47
59 $40,639.47 $594.02 $0.00 $229.78 $41,463.27
60 $41,463.27 $594.02 $0.00 $234.44 $42,291.73
61 $42,291.73 $594.02 $0.00 $239.12 $43,124.87
62 $43,124.87 $594.02 $0.00 $243.83 $43,962.72
63 $43,962.72 $594.02 $0.00 $248.57 $44,805.31
64 $44,805.31 $594.02 $0.00 $253.34 $45,652.67
65 $45,652.67 $594.02 $0.00 $258.13 $46,504.82
66 $46,504.82 $594.02 $0.00 $262.95 $47,361.79
67 $47,361.79 $594.02 $0.00 $267.79 $48,223.60
68 $48,223.60 $594.02 $0.00 $272.66 $49,090.28
69 $49,090.28 $594.02 $0.00 $277.56 $49,961.86
70 $49,961.86 $594.02 $0.00 $282.49 $50,838.37
71 $50,838.37 $594.02 $0.00 $287.45 $51,719.84
72 $51,719.84 $594.02 $0.00 $292.43 $52,606.29
73 $52,606.29 $594.02 $0.00 $297.44 $53,497.75
74 $53,497.75 $594.02 $0.00 $302.48 $54,394.25
75 $54,394.25 $594.02 $0.00 $307.55 $55,295.82
76 $55,295.82 $594.02 $0.00 $312.65 $56,202.49
77 $56,202.49 $594.02 $0.00 $317.78 $57,114.29
78 $57,114.29 $594.02 $0.00 $322.93 $58,031.24
79 $58,031.24 $594.02 $0.00 $328.12 $58,953.38
80 $58,953.38 $594.02 $0.00 $333.33 $59,880.73
81 $59,880.73 $594.02 $0.00 $338.57 $60,813.32
82 $60,813.32 $594.02 $0.00 $343.85 $61,751.19
83 $61,751.19 $594.02 $0.00 $349.15 $62,694.36
84 $62,694.36 $594.02 $0.00 $354.48 $63,642.86
85 $63,642.86 $594.02 $0.00 $359.85 $64,596.73
86 $64,596.73 $594.02 $0.00 $365.24 $65,555.99
87 $65,555.99 $594.02 $0.00 $370.66 $66,520.67
88 $66,520.67 $594.02 $0.00 $376.12 $67,490.81
89 $67,490.81 $594.02 $0.00 $381.60 $68,466.43
90 $68,466.43 $594.02 $0.00 $387.12 $69,447.57
91 $69,447.57 $594.02 $0.00 $392.67 $70,434.26
92 $70,434.26 $594.02 $0.00 $398.25 $71,426.53
93 $71,426.53 $594.02 $0.00 $403.86 $72,424.41
94 $72,424.41 $594.02 $0.00 $409.50 $73,427.93
95 $73,427.93 $594.02 $0.00 $415.17 $74,437.12
96 $74,437.12 $594.02 $0.00 $420.88 $75,452.02
97 $75,452.02 $594.02 $0.00 $426.62 $76,472.66
98 $76,472.66 $594.02 $0.00 $432.39 $77,499.07
99 $77,499.07 $594.02 $0.00 $438.19 $78,531.28
100 $78,531.28 $594.02 $0.00 $444.03 $79,569.33
101 $79,569.33 $594.02 $0.00 $449.90 $80,613.25
102 $80,613.25 $594.02 $0.00 $455.80 $81,663.07
103 $81,663.07 $594.02 $0.00 $461.73 $82,718.82
104 $82,718.82 $594.02 $0.00 $467.70 $83,780.54
105 $83,780.54 $594.02 $0.00 $473.71 $84,848.27
106 $84,848.27 $594.02 $0.00 $479.74 $85,922.03
107 $85,922.03 $594.02 $0.00 $485.82 $87,001.87
108 $87,001.87 $594.02 $0.00 $491.92 $88,087.81
109 $88,087.81 $594.02 $0.00 $498.06 $89,179.89
110 $89,179.89 $594.02 $0.00 $504.24 $90,278.15
111 $90,278.15 $594.02 $0.00 $510.45 $91,382.62
112 $91,382.62 $594.02 $0.00 $516.69 $92,493.33
113 $92,493.33 $594.02 $0.00 $522.97 $93,610.32
114 $93,610.32 $594.02 $0.00 $529.29 $94,733.63
115 $94,733.63 $594.02 $0.00 $535.64 $95,863.29
116 $95,863.29 $594.02 $0.00 $542.02 $96,999.33
117 $96,999.33 $594.02 $0.00 $548.45 $98,141.80
118 $98,141.80 $594.02 $0.00 $554.91 $99,290.73
119 $99,290.73 $594.02 $0.00 $561.40 $100,446.15
120 $100,446.15 $594.02 $0.00 $567.94 $101,608.11
121 $101,608.11 $594.02 $0.00 $574.51 $102,776.64
122 $102,776.64 $594.02 $0.00 $581.11 $103,951.77
123 $103,951.77 $594.02 $0.00 $587.76 $105,133.55
124 $105,133.55 $594.02 $0.00 $594.44 $106,322.01
125 $106,322.01 $594.02 $0.00 $601.16 $107,517.19
126 $107,517.19 $594.02 $0.00 $607.92 $108,719.13
127 $108,719.13 $594.02 $0.00 $614.71 $109,927.86
128 $109,927.86 $594.02 $0.00 $621.55 $111,143.43
129 $111,143.43 $594.02 $0.00 $628.42 $112,365.87
130 $112,365.87 $594.02 $0.00 $635.33 $113,595.22
131 $113,595.22 $594.02 $0.00 $642.28 $114,831.52
132 $114,831.52 $594.02 $0.00 $649.27 $116,074.81
133 $116,074.81 $594.02 $0.00 $656.30 $117,325.13
134 $117,325.13 $594.02 $0.00 $663.37 $118,582.52
135 $118,582.52 $594.02 $0.00 $670.48 $119,847.02
136 $119,847.02 $594.02 $0.00 $677.63 $121,118.67
137 $121,118.67 $594.02 $0.00 $684.82 $122,397.51
138 $122,397.51 $594.02 $0.00 $692.05 $123,683.58
139 $123,683.58 $594.02 $0.00 $699.32 $124,976.92
140 $124,976.92 $594.02 $0.00 $706.64 $126,277.58
141 $126,277.58 $594.02 $0.00 $713.99 $127,585.59
142 $127,585.59 $594.02 $0.00 $721.39 $128,901.00
143 $128,901.00 $594.02 $0.00 $728.82 $130,223.84
144 $130,223.84 $594.02 $0.00 $736.30 $131,554.16
145 $131,554.16 $594.02 $0.00 $743.83 $132,892.01
146 $132,892.01 $594.02 $0.00 $751.39 $134,237.42
147 $134,237.42 $594.02 $0.00 $759.00 $135,590.44
148 $135,590.44 $594.02 $0.00 $766.65 $136,951.11
149 $136,951.11 $594.02 $0.00 $774.34 $138,319.47
150 $138,319.47 $594.02 $0.00 $782.08 $139,695.57
151 $139,695.57 $594.02 $0.00 $789.86 $141,079.45
152 $141,079.45 $594.02 $0.00 $797.68 $142,471.15
153 $142,471.15 $594.02 $0.00 $805.55 $143,870.72
154 $143,870.72 $594.02 $0.00 $813.47 $145,278.21
155 $145,278.21 $594.02 $0.00 $821.42 $146,693.65
156 $146,693.65 $594.02 $0.00 $829.43 $148,117.10
157 $148,117.10 $594.02 $0.00 $837.48 $149,548.60
158 $149,548.60 $594.02 $0.00 $845.57 $150,988.19
159 $150,988.19 $594.02 $0.00 $853.71 $152,435.92
160 $152,435.92 $594.02 $0.00 $861.89 $153,891.83
161 $153,891.83 $594.02 $0.00 $870.13 $155,355.98
162 $155,355.98 $594.02 $0.00 $878.41 $156,828.41
163 $156,828.41 $594.02 $0.00 $886.73 $158,309.16
164 $158,309.16 $594.02 $0.00 $895.10 $159,798.28
165 $159,798.28 $594.02 $0.00 $903.52 $161,295.82
166 $161,295.82 $594.02 $0.00 $911.99 $162,801.83
167 $162,801.83 $594.02 $0.00 $920.51 $164,316.36
168 $164,316.36 $594.02 $0.00 $929.07 $165,839.45
169 $165,839.45 $594.02 $0.00 $937.68 $167,371.15
170 $167,371.15 $594.02 $0.00 $946.34 $168,911.51
171 $168,911.51 $594.02 $0.00 $955.05 $170,460.58
172 $170,460.58 $594.02 $0.00 $963.81 $172,018.41
173 $172,018.41 $594.02 $0.00 $972.62 $173,585.05
174 $173,585.05 $594.02 $0.00 $981.48 $175,160.55
175 $175,160.55 $594.02 $0.00 $990.38 $176,744.95
176 $176,744.95 $594.02 $0.00 $999.34 $178,338.31
177 $178,338.31 $594.02 $0.00 $1,008.35 $179,940.68
178 $179,940.68 $594.02 $0.00 $1,017.41 $181,552.11
179 $181,552.11 $594.02 $0.00 $1,026.52 $183,172.65
180 $183,172.65 $594.02 $0.00 $1,035.68 $184,802.35
181 $184,802.35 $594.02 $0.00 $1,044.90 $186,441.27
182 $186,441.27 $594.02 $0.00 $1,054.17 $188,089.46
183 $188,089.46 $594.02 $0.00 $1,063.49 $189,746.97
184 $189,746.97 $594.02 $0.00 $1,072.86 $191,413.85
185 $191,413.85 $594.02 $0.00 $1,082.28 $193,090.15
186 $193,090.15 $594.02 $0.00 $1,091.76 $194,775.93
187 $194,775.93 $594.02 $0.00 $1,101.29 $196,471.24
188 $196,471.24 $594.02 $0.00 $1,110.88 $198,176.14
189 $198,176.14 $594.02 $0.00 $1,120.52 $199,890.68
190 $199,890.68 $594.02 $0.00 $1,130.21 $201,614.91
191 $201,614.91 $594.02 $0.00 $1,139.96 $203,348.89
192 $203,348.89 $594.02 $0.00 $1,149.76 $205,092.67
193 $205,092.67 $594.02 $0.00 $1,159.62 $206,846.31
194 $206,846.31 $594.02 $0.00 $1,169.54 $208,609.87
195 $208,609.87 $594.02 $0.00 $1,179.51 $210,383.40
196 $210,383.40 $594.02 $0.00 $1,189.54 $212,166.96
197 $212,166.96 $594.02 $0.00 $1,199.62 $213,960.60
198 $213,960.60 $594.02 $0.00 $1,209.76 $215,764.38
199 $215,764.38 $594.02 $0.00 $1,219.96 $217,578.36
200 $217,578.36 $594.02 $0.00 $1,230.22 $219,402.60
201 $219,402.60 $594.02 $0.00 $1,240.53 $221,237.15
202 $221,237.15 $594.02 $0.00 $1,250.91 $223,082.08
203 $223,082.08 $594.02 $0.00 $1,261.34 $224,937.44
204 $224,937.44 $594.02 $0.00 $1,271.83 $226,803.29
205 $226,803.29 $594.02 $0.00 $1,282.38 $228,679.69
206 $228,679.69 $594.02 $0.00 $1,292.99 $230,566.70
207 $230,566.70 $594.02 $0.00 $1,303.66 $232,464.38
208 $232,464.38 $594.02 $0.00 $1,314.39 $234,372.79
209 $234,372.79 $594.02 $0.00 $1,325.18 $236,291.99
210 $236,291.99 $594.02 $0.00 $1,336.03 $238,222.04
211 $238,222.04 $594.02 $0.00 $1,346.94 $240,163.00
212 $240,163.00 $594.02 $0.00 $1,357.92 $242,114.94
213 $242,114.94 $594.02 $0.00 $1,368.95 $244,077.91
214 $244,077.91 $594.02 $0.00 $1,380.05 $246,051.98
215 $246,051.98 $594.02 $0.00 $1,391.21 $248,037.21
216 $248,037.21 $594.02 $0.00 $1,402.44 $250,033.67
217 $250,033.67 $594.02 $69,642.75 $1,413.73 $182,398.67
218 $182,398.67 $594.02 $0.00 $1,031.31 $184,024.00
219 $184,024.00 $594.02 $0.00 $1,040.50 $185,658.52
220 $185,658.52 $594.02 $0.00 $1,049.74 $187,302.28
221 $187,302.28 $594.02 $0.00 $1,059.03 $188,955.33
222 $188,955.33 $594.02 $0.00 $1,068.38 $190,617.73
223 $190,617.73 $594.02 $0.00 $1,077.78 $192,289.53
224 $192,289.53 $594.02 $0.00 $1,087.23 $193,970.78
225 $193,970.78 $594.02 $0.00 $1,096.74 $195,661.54
226 $195,661.54 $594.02 $0.00 $1,106.30 $197,361.86
227 $197,361.86 $594.02 $0.00 $1,115.91 $199,071.79
228 $199,071.79 $594.02 $0.00 $1,125.58 $200,791.39
229 $200,791.39 $594.02 $73,124.88 $1,135.30 $129,395.83
230 $129,395.83 $594.02 $0.00 $731.62 $130,721.47
231 $130,721.47 $594.02 $0.00 $739.12 $132,054.61
232 $132,054.61 $594.02 $0.00 $746.66 $133,395.29
233 $133,395.29 $594.02 $0.00 $754.24 $134,743.55
234 $134,743.55 $594.02 $0.00 $761.86 $136,099.43
235 $136,099.43 $594.02 $0.00 $769.53 $137,462.98
236 $137,462.98 $594.02 $0.00 $777.24 $138,834.24
237 $138,834.24 $594.02 $0.00 $784.99 $140,213.25
238 $140,213.25 $594.02 $0.00 $792.79 $141,600.06
239 $141,600.06 $594.02 $0.00 $800.63 $142,994.71
240 $142,994.71 $594.02 $0.00 $808.51 $144,397.24
241 $144,397.24 $594.02 $76,781.13 $816.44 $69,026.57
242 $69,026.57 $594.02 $0.00 $390.29 $70,010.88
243 $70,010.88 $594.02 $0.00 $395.85 $71,000.75
244 $71,000.75 $594.02 $0.00 $401.45 $71,996.22
245 $71,996.22 $594.02 $0.00 $407.08 $72,997.32
246 $72,997.32 $594.02 $0.00 $412.74 $74,004.08
247 $74,004.08 $594.02 $0.00 $418.43 $75,016.53
248 $75,016.53 $594.02 $0.00 $424.15 $76,034.70
249 $76,034.70 $594.02 $0.00 $429.91 $77,058.63
250 $77,058.63 $594.02 $0.00 $435.70 $78,088.35
251 $78,088.35 $594.02 $0.00 $441.52 $79,123.89
252 $79,123.89 $594.02 $0.00 $447.38 $80,165.29
253 $80,165.29 $0.00 $80,620.19 $453.27 ($1.63)