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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$90,633
Monthly savings required$717

How much will it cost to send your child to Freed Hardeman University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $362,530.40 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $717.42 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$34,950.00
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 $717.42 $0.00 $0.00 $717.42
2 $717.42 $717.42 $0.00 $4.06 $1,438.90
3 $1,438.90 $717.42 $0.00 $8.14 $2,164.46
4 $2,164.46 $717.42 $0.00 $12.24 $2,894.12
5 $2,894.12 $717.42 $0.00 $16.36 $3,627.90
6 $3,627.90 $717.42 $0.00 $20.51 $4,365.83
7 $4,365.83 $717.42 $0.00 $24.69 $5,107.94
8 $5,107.94 $717.42 $0.00 $28.88 $5,854.24
9 $5,854.24 $717.42 $0.00 $33.10 $6,604.76
10 $6,604.76 $717.42 $0.00 $37.34 $7,359.52
11 $7,359.52 $717.42 $0.00 $41.61 $8,118.55
12 $8,118.55 $717.42 $0.00 $45.90 $8,881.87
13 $8,881.87 $717.42 $0.00 $50.22 $9,649.51
14 $9,649.51 $717.42 $0.00 $54.56 $10,421.49
15 $10,421.49 $717.42 $0.00 $58.92 $11,197.83
16 $11,197.83 $717.42 $0.00 $63.31 $11,978.56
17 $11,978.56 $717.42 $0.00 $67.73 $12,763.71
18 $12,763.71 $717.42 $0.00 $72.17 $13,553.30
19 $13,553.30 $717.42 $0.00 $76.63 $14,347.35
20 $14,347.35 $717.42 $0.00 $81.12 $15,145.89
21 $15,145.89 $717.42 $0.00 $85.64 $15,948.95
22 $15,948.95 $717.42 $0.00 $90.18 $16,756.55
23 $16,756.55 $717.42 $0.00 $94.74 $17,568.71
24 $17,568.71 $717.42 $0.00 $99.34 $18,385.47
25 $18,385.47 $717.42 $0.00 $103.95 $19,206.84
26 $19,206.84 $717.42 $0.00 $108.60 $20,032.86
27 $20,032.86 $717.42 $0.00 $113.27 $20,863.55
28 $20,863.55 $717.42 $0.00 $117.97 $21,698.94
29 $21,698.94 $717.42 $0.00 $122.69 $22,539.05
30 $22,539.05 $717.42 $0.00 $127.44 $23,383.91
31 $23,383.91 $717.42 $0.00 $132.22 $24,233.55
32 $24,233.55 $717.42 $0.00 $137.02 $25,087.99
33 $25,087.99 $717.42 $0.00 $141.85 $25,947.26
34 $25,947.26 $717.42 $0.00 $146.71 $26,811.39
35 $26,811.39 $717.42 $0.00 $151.60 $27,680.41
36 $27,680.41 $717.42 $0.00 $156.51 $28,554.34
37 $28,554.34 $717.42 $0.00 $161.45 $29,433.21
38 $29,433.21 $717.42 $0.00 $166.42 $30,317.05
39 $30,317.05 $717.42 $0.00 $171.42 $31,205.89
40 $31,205.89 $717.42 $0.00 $176.44 $32,099.75
41 $32,099.75 $717.42 $0.00 $181.50 $32,998.67
42 $32,998.67 $717.42 $0.00 $186.58 $33,902.67
43 $33,902.67 $717.42 $0.00 $191.69 $34,811.78
44 $34,811.78 $717.42 $0.00 $196.83 $35,726.03
45 $35,726.03 $717.42 $0.00 $202.00 $36,645.45
46 $36,645.45 $717.42 $0.00 $207.20 $37,570.07
47 $37,570.07 $717.42 $0.00 $212.43 $38,499.92
48 $38,499.92 $717.42 $0.00 $217.68 $39,435.02
49 $39,435.02 $717.42 $0.00 $222.97 $40,375.41
50 $40,375.41 $717.42 $0.00 $228.29 $41,321.12
51 $41,321.12 $717.42 $0.00 $233.64 $42,272.18
52 $42,272.18 $717.42 $0.00 $239.01 $43,228.61
53 $43,228.61 $717.42 $0.00 $244.42 $44,190.45
54 $44,190.45 $717.42 $0.00 $249.86 $45,157.73
55 $45,157.73 $717.42 $0.00 $255.33 $46,130.48
56 $46,130.48 $717.42 $0.00 $260.83 $47,108.73
57 $47,108.73 $717.42 $0.00 $266.36 $48,092.51
58 $48,092.51 $717.42 $0.00 $271.92 $49,081.85
59 $49,081.85 $717.42 $0.00 $277.52 $50,076.79
60 $50,076.79 $717.42 $0.00 $283.14 $51,077.35
61 $51,077.35 $717.42 $0.00 $288.80 $52,083.57
62 $52,083.57 $717.42 $0.00 $294.49 $53,095.48
63 $53,095.48 $717.42 $0.00 $300.21 $54,113.11
64 $54,113.11 $717.42 $0.00 $305.96 $55,136.49
65 $55,136.49 $717.42 $0.00 $311.75 $56,165.66
66 $56,165.66 $717.42 $0.00 $317.57 $57,200.65
67 $57,200.65 $717.42 $0.00 $323.42 $58,241.49
68 $58,241.49 $717.42 $0.00 $329.31 $59,288.22
69 $59,288.22 $717.42 $0.00 $335.22 $60,340.86
70 $60,340.86 $717.42 $0.00 $341.18 $61,399.46
71 $61,399.46 $717.42 $0.00 $347.16 $62,464.04
72 $62,464.04 $717.42 $0.00 $353.18 $63,534.64
73 $63,534.64 $717.42 $0.00 $359.23 $64,611.29
74 $64,611.29 $717.42 $0.00 $365.32 $65,694.03
75 $65,694.03 $717.42 $0.00 $371.44 $66,782.89
76 $66,782.89 $717.42 $0.00 $377.60 $67,877.91
77 $67,877.91 $717.42 $0.00 $383.79 $68,979.12
78 $68,979.12 $717.42 $0.00 $390.02 $70,086.56
79 $70,086.56 $717.42 $0.00 $396.28 $71,200.26
80 $71,200.26 $717.42 $0.00 $402.58 $72,320.26
81 $72,320.26 $717.42 $0.00 $408.91 $73,446.59
82 $73,446.59 $717.42 $0.00 $415.28 $74,579.29
83 $74,579.29 $717.42 $0.00 $421.68 $75,718.39
84 $75,718.39 $717.42 $0.00 $428.12 $76,863.93
85 $76,863.93 $717.42 $0.00 $434.60 $78,015.95
86 $78,015.95 $717.42 $0.00 $441.11 $79,174.48
87 $79,174.48 $717.42 $0.00 $447.66 $80,339.56
88 $80,339.56 $717.42 $0.00 $454.25 $81,511.23
89 $81,511.23 $717.42 $0.00 $460.88 $82,689.53
90 $82,689.53 $717.42 $0.00 $467.54 $83,874.49
91 $83,874.49 $717.42 $0.00 $474.24 $85,066.15
92 $85,066.15 $717.42 $0.00 $480.98 $86,264.55
93 $86,264.55 $717.42 $0.00 $487.75 $87,469.72
94 $87,469.72 $717.42 $0.00 $494.57 $88,681.71
95 $88,681.71 $717.42 $0.00 $501.42 $89,900.55
96 $89,900.55 $717.42 $0.00 $508.31 $91,126.28
97 $91,126.28 $717.42 $0.00 $515.24 $92,358.94
98 $92,358.94 $717.42 $0.00 $522.21 $93,598.57
99 $93,598.57 $717.42 $0.00 $529.22 $94,845.21
100 $94,845.21 $717.42 $0.00 $536.27 $96,098.90
101 $96,098.90 $717.42 $0.00 $543.36 $97,359.68
102 $97,359.68 $717.42 $0.00 $550.49 $98,627.59
103 $98,627.59 $717.42 $0.00 $557.65 $99,902.66
104 $99,902.66 $717.42 $0.00 $564.86 $101,184.94
105 $101,184.94 $717.42 $0.00 $572.11 $102,474.47
106 $102,474.47 $717.42 $0.00 $579.41 $103,771.30
107 $103,771.30 $717.42 $0.00 $586.74 $105,075.46
108 $105,075.46 $717.42 $0.00 $594.11 $106,386.99
109 $106,386.99 $717.42 $0.00 $601.53 $107,705.94
110 $107,705.94 $717.42 $0.00 $608.99 $109,032.35
111 $109,032.35 $717.42 $0.00 $616.48 $110,366.25
112 $110,366.25 $717.42 $0.00 $624.03 $111,707.70
113 $111,707.70 $717.42 $0.00 $631.61 $113,056.73
114 $113,056.73 $717.42 $0.00 $639.24 $114,413.39
115 $114,413.39 $717.42 $0.00 $646.91 $115,777.72
116 $115,777.72 $717.42 $0.00 $654.62 $117,149.76
117 $117,149.76 $717.42 $0.00 $662.38 $118,529.56
118 $118,529.56 $717.42 $0.00 $670.18 $119,917.16
119 $119,917.16 $717.42 $0.00 $678.03 $121,312.61
120 $121,312.61 $717.42 $0.00 $685.92 $122,715.95
121 $122,715.95 $717.42 $0.00 $693.85 $124,127.22
122 $124,127.22 $717.42 $0.00 $701.83 $125,546.47
123 $125,546.47 $717.42 $0.00 $709.86 $126,973.75
124 $126,973.75 $717.42 $0.00 $717.93 $128,409.10
125 $128,409.10 $717.42 $0.00 $726.04 $129,852.56
126 $129,852.56 $717.42 $0.00 $734.21 $131,304.19
127 $131,304.19 $717.42 $0.00 $742.41 $132,764.02
128 $132,764.02 $717.42 $0.00 $750.67 $134,232.11
129 $134,232.11 $717.42 $0.00 $758.97 $135,708.50
130 $135,708.50 $717.42 $0.00 $767.32 $137,193.24
131 $137,193.24 $717.42 $0.00 $775.71 $138,686.37
132 $138,686.37 $717.42 $0.00 $784.15 $140,187.94
133 $140,187.94 $717.42 $0.00 $792.64 $141,698.00
134 $141,698.00 $717.42 $0.00 $801.18 $143,216.60
135 $143,216.60 $717.42 $0.00 $809.77 $144,743.79
136 $144,743.79 $717.42 $0.00 $818.40 $146,279.61
137 $146,279.61 $717.42 $0.00 $827.09 $147,824.12
138 $147,824.12 $717.42 $0.00 $835.82 $149,377.36
139 $149,377.36 $717.42 $0.00 $844.60 $150,939.38
140 $150,939.38 $717.42 $0.00 $853.43 $152,510.23
141 $152,510.23 $717.42 $0.00 $862.32 $154,089.97
142 $154,089.97 $717.42 $0.00 $871.25 $155,678.64
143 $155,678.64 $717.42 $0.00 $880.23 $157,276.29
144 $157,276.29 $717.42 $0.00 $889.26 $158,882.97
145 $158,882.97 $717.42 $0.00 $898.35 $160,498.74
146 $160,498.74 $717.42 $0.00 $907.48 $162,123.64
147 $162,123.64 $717.42 $0.00 $916.67 $163,757.73
148 $163,757.73 $717.42 $0.00 $925.91 $165,401.06
149 $165,401.06 $717.42 $0.00 $935.20 $167,053.68
150 $167,053.68 $717.42 $0.00 $944.55 $168,715.65
151 $168,715.65 $717.42 $0.00 $953.94 $170,387.01
152 $170,387.01 $717.42 $0.00 $963.39 $172,067.82
153 $172,067.82 $717.42 $0.00 $972.90 $173,758.14
154 $173,758.14 $717.42 $0.00 $982.45 $175,458.01
155 $175,458.01 $717.42 $0.00 $992.07 $177,167.50
156 $177,167.50 $717.42 $0.00 $1,001.73 $178,886.65
157 $178,886.65 $717.42 $0.00 $1,011.45 $180,615.52
158 $180,615.52 $717.42 $0.00 $1,021.23 $182,354.17
159 $182,354.17 $717.42 $0.00 $1,031.06 $184,102.65
160 $184,102.65 $717.42 $0.00 $1,040.94 $185,861.01
161 $185,861.01 $717.42 $0.00 $1,050.89 $187,629.32
162 $187,629.32 $717.42 $0.00 $1,060.88 $189,407.62
163 $189,407.62 $717.42 $0.00 $1,070.94 $191,195.98
164 $191,195.98 $717.42 $0.00 $1,081.05 $192,994.45
165 $192,994.45 $717.42 $0.00 $1,091.22 $194,803.09
166 $194,803.09 $717.42 $0.00 $1,101.44 $196,621.95
167 $196,621.95 $717.42 $0.00 $1,111.73 $198,451.10
168 $198,451.10 $717.42 $0.00 $1,122.07 $200,290.59
169 $200,290.59 $717.42 $0.00 $1,132.47 $202,140.48
170 $202,140.48 $717.42 $0.00 $1,142.93 $204,000.83
171 $204,000.83 $717.42 $0.00 $1,153.45 $205,871.70
172 $205,871.70 $717.42 $0.00 $1,164.03 $207,753.15
173 $207,753.15 $717.42 $0.00 $1,174.67 $209,645.24
174 $209,645.24 $717.42 $0.00 $1,185.36 $211,548.02
175 $211,548.02 $717.42 $0.00 $1,196.12 $213,461.56
176 $213,461.56 $717.42 $0.00 $1,206.94 $215,385.92
177 $215,385.92 $717.42 $0.00 $1,217.82 $217,321.16
178 $217,321.16 $717.42 $0.00 $1,228.77 $219,267.35
179 $219,267.35 $717.42 $0.00 $1,239.77 $221,224.54
180 $221,224.54 $717.42 $0.00 $1,250.84 $223,192.80
181 $223,192.80 $717.42 $0.00 $1,261.96 $225,172.18
182 $225,172.18 $717.42 $0.00 $1,273.16 $227,162.76
183 $227,162.76 $717.42 $0.00 $1,284.41 $229,164.59
184 $229,164.59 $717.42 $0.00 $1,295.73 $231,177.74
185 $231,177.74 $717.42 $0.00 $1,307.11 $233,202.27
186 $233,202.27 $717.42 $0.00 $1,318.56 $235,238.25
187 $235,238.25 $717.42 $0.00 $1,330.07 $237,285.74
188 $237,285.74 $717.42 $0.00 $1,341.65 $239,344.81
189 $239,344.81 $717.42 $0.00 $1,353.29 $241,415.52
190 $241,415.52 $717.42 $0.00 $1,365.00 $243,497.94
191 $243,497.94 $717.42 $0.00 $1,376.77 $245,592.13
192 $245,592.13 $717.42 $0.00 $1,388.61 $247,698.16
193 $247,698.16 $717.42 $0.00 $1,400.52 $249,816.10
194 $249,816.10 $717.42 $0.00 $1,412.50 $251,946.02
195 $251,946.02 $717.42 $0.00 $1,424.54 $254,087.98
196 $254,087.98 $717.42 $0.00 $1,436.65 $256,242.05
197 $256,242.05 $717.42 $0.00 $1,448.83 $258,408.30
198 $258,408.30 $717.42 $0.00 $1,461.08 $260,586.80
199 $260,586.80 $717.42 $0.00 $1,473.40 $262,777.62
200 $262,777.62 $717.42 $0.00 $1,485.78 $264,980.82
201 $264,980.82 $717.42 $0.00 $1,498.24 $267,196.48
202 $267,196.48 $717.42 $0.00 $1,510.77 $269,424.67
203 $269,424.67 $717.42 $0.00 $1,523.37 $271,665.46
204 $271,665.46 $717.42 $0.00 $1,536.04 $273,918.92
205 $273,918.92 $717.42 $0.00 $1,548.78 $276,185.12
206 $276,185.12 $717.42 $0.00 $1,561.59 $278,464.13
207 $278,464.13 $717.42 $0.00 $1,574.48 $280,756.03
208 $280,756.03 $717.42 $0.00 $1,587.44 $283,060.89
209 $283,060.89 $717.42 $0.00 $1,600.47 $285,378.78
210 $285,378.78 $717.42 $0.00 $1,613.57 $287,709.77
211 $287,709.77 $717.42 $0.00 $1,626.75 $290,053.94
212 $290,053.94 $717.42 $0.00 $1,640.01 $292,411.37
213 $292,411.37 $717.42 $0.00 $1,653.34 $294,782.13
214 $294,782.13 $717.42 $0.00 $1,666.74 $297,166.29
215 $297,166.29 $717.42 $0.00 $1,680.22 $299,563.93
216 $299,563.93 $717.42 $0.00 $1,693.78 $301,975.13
217 $301,975.13 $717.42 $84,111.34 $1,707.41 $220,288.62
218 $220,288.62 $717.42 $0.00 $1,245.54 $222,251.58
219 $222,251.58 $717.42 $0.00 $1,256.64 $224,225.64
220 $224,225.64 $717.42 $0.00 $1,267.80 $226,210.86
221 $226,210.86 $717.42 $0.00 $1,279.03 $228,207.31
222 $228,207.31 $717.42 $0.00 $1,290.32 $230,215.05
223 $230,215.05 $717.42 $0.00 $1,301.67 $232,234.14
224 $232,234.14 $717.42 $0.00 $1,313.09 $234,264.65
225 $234,264.65 $717.42 $0.00 $1,324.57 $236,306.64
226 $236,306.64 $717.42 $0.00 $1,336.11 $238,360.17
227 $238,360.17 $717.42 $0.00 $1,347.72 $240,425.31
228 $240,425.31 $717.42 $0.00 $1,359.40 $242,502.13
229 $242,502.13 $717.42 $88,316.91 $1,371.14 $156,273.78
230 $156,273.78 $717.42 $0.00 $883.59 $157,874.79
231 $157,874.79 $717.42 $0.00 $892.65 $159,484.86
232 $159,484.86 $717.42 $0.00 $901.75 $161,104.03
233 $161,104.03 $717.42 $0.00 $910.91 $162,732.36
234 $162,732.36 $717.42 $0.00 $920.11 $164,369.89
235 $164,369.89 $717.42 $0.00 $929.37 $166,016.68
236 $166,016.68 $717.42 $0.00 $938.68 $167,672.78
237 $167,672.78 $717.42 $0.00 $948.05 $169,338.25
238 $169,338.25 $717.42 $0.00 $957.46 $171,013.13
239 $171,013.13 $717.42 $0.00 $966.93 $172,697.48
240 $172,697.48 $717.42 $0.00 $976.46 $174,391.36
241 $174,391.36 $717.42 $92,732.75 $986.03 $83,362.06
242 $83,362.06 $717.42 $0.00 $471.34 $84,550.82
243 $84,550.82 $717.42 $0.00 $478.06 $85,746.30
244 $85,746.30 $717.42 $0.00 $484.82 $86,948.54
245 $86,948.54 $717.42 $0.00 $491.62 $88,157.58
246 $88,157.58 $717.42 $0.00 $498.46 $89,373.46
247 $89,373.46 $717.42 $0.00 $505.33 $90,596.21
248 $90,596.21 $717.42 $0.00 $512.24 $91,825.87
249 $91,825.87 $717.42 $0.00 $519.20 $93,062.49
250 $93,062.49 $717.42 $0.00 $526.19 $94,306.10
251 $94,306.10 $717.42 $0.00 $533.22 $95,556.74
252 $95,556.74 $717.42 $0.00 $540.29 $96,814.45
253 $96,814.45 $0.00 $97,369.39 $547.40 ($7.54)