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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$106,441
Monthly savings required$843

How much will it cost to send your child to Hardin Simmons University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $425,763.17 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $842.56 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$41,046.00
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 $842.56 $0.00 $0.00 $842.56
2 $842.56 $842.56 $0.00 $4.76 $1,689.88
3 $1,689.88 $842.56 $0.00 $9.55 $2,541.99
4 $2,541.99 $842.56 $0.00 $14.37 $3,398.92
5 $3,398.92 $842.56 $0.00 $19.22 $4,260.70
6 $4,260.70 $842.56 $0.00 $24.09 $5,127.35
7 $5,127.35 $842.56 $0.00 $28.99 $5,998.90
8 $5,998.90 $842.56 $0.00 $33.92 $6,875.38
9 $6,875.38 $842.56 $0.00 $38.87 $7,756.81
10 $7,756.81 $842.56 $0.00 $43.86 $8,643.23
11 $8,643.23 $842.56 $0.00 $48.87 $9,534.66
12 $9,534.66 $842.56 $0.00 $53.91 $10,431.13
13 $10,431.13 $842.56 $0.00 $58.98 $11,332.67
14 $11,332.67 $842.56 $0.00 $64.08 $12,239.31
15 $12,239.31 $842.56 $0.00 $69.20 $13,151.07
16 $13,151.07 $842.56 $0.00 $74.36 $14,067.99
17 $14,067.99 $842.56 $0.00 $79.54 $14,990.09
18 $14,990.09 $842.56 $0.00 $84.76 $15,917.41
19 $15,917.41 $842.56 $0.00 $90.00 $16,849.97
20 $16,849.97 $842.56 $0.00 $95.27 $17,787.80
21 $17,787.80 $842.56 $0.00 $100.57 $18,730.93
22 $18,730.93 $842.56 $0.00 $105.91 $19,679.40
23 $19,679.40 $842.56 $0.00 $111.27 $20,633.23
24 $20,633.23 $842.56 $0.00 $116.66 $21,592.45
25 $21,592.45 $842.56 $0.00 $122.09 $22,557.10
26 $22,557.10 $842.56 $0.00 $127.54 $23,527.20
27 $23,527.20 $842.56 $0.00 $133.03 $24,502.79
28 $24,502.79 $842.56 $0.00 $138.54 $25,483.89
29 $25,483.89 $842.56 $0.00 $144.09 $26,470.54
30 $26,470.54 $842.56 $0.00 $149.67 $27,462.77
31 $27,462.77 $842.56 $0.00 $155.28 $28,460.61
32 $28,460.61 $842.56 $0.00 $160.92 $29,464.09
33 $29,464.09 $842.56 $0.00 $166.59 $30,473.24
34 $30,473.24 $842.56 $0.00 $172.30 $31,488.10
35 $31,488.10 $842.56 $0.00 $178.04 $32,508.70
36 $32,508.70 $842.56 $0.00 $183.81 $33,535.07
37 $33,535.07 $842.56 $0.00 $189.61 $34,567.24
38 $34,567.24 $842.56 $0.00 $195.45 $35,605.25
39 $35,605.25 $842.56 $0.00 $201.32 $36,649.13
40 $36,649.13 $842.56 $0.00 $207.22 $37,698.91
41 $37,698.91 $842.56 $0.00 $213.16 $38,754.63
42 $38,754.63 $842.56 $0.00 $219.12 $39,816.31
43 $39,816.31 $842.56 $0.00 $225.13 $40,884.00
44 $40,884.00 $842.56 $0.00 $231.16 $41,957.72
45 $41,957.72 $842.56 $0.00 $237.24 $43,037.52
46 $43,037.52 $842.56 $0.00 $243.34 $44,123.42
47 $44,123.42 $842.56 $0.00 $249.48 $45,215.46
48 $45,215.46 $842.56 $0.00 $255.65 $46,313.67
49 $46,313.67 $842.56 $0.00 $261.86 $47,418.09
50 $47,418.09 $842.56 $0.00 $268.11 $48,528.76
51 $48,528.76 $842.56 $0.00 $274.39 $49,645.71
52 $49,645.71 $842.56 $0.00 $280.70 $50,768.97
53 $50,768.97 $842.56 $0.00 $287.06 $51,898.59
54 $51,898.59 $842.56 $0.00 $293.44 $53,034.59
55 $53,034.59 $842.56 $0.00 $299.87 $54,177.02
56 $54,177.02 $842.56 $0.00 $306.32 $55,325.90
57 $55,325.90 $842.56 $0.00 $312.82 $56,481.28
58 $56,481.28 $842.56 $0.00 $319.35 $57,643.19
59 $57,643.19 $842.56 $0.00 $325.92 $58,811.67
60 $58,811.67 $842.56 $0.00 $332.53 $59,986.76
61 $59,986.76 $842.56 $0.00 $339.17 $61,168.49
62 $61,168.49 $842.56 $0.00 $345.86 $62,356.91
63 $62,356.91 $842.56 $0.00 $352.58 $63,552.05
64 $63,552.05 $842.56 $0.00 $359.33 $64,753.94
65 $64,753.94 $842.56 $0.00 $366.13 $65,962.63
66 $65,962.63 $842.56 $0.00 $372.96 $67,178.15
67 $67,178.15 $842.56 $0.00 $379.84 $68,400.55
68 $68,400.55 $842.56 $0.00 $386.75 $69,629.86
69 $69,629.86 $842.56 $0.00 $393.70 $70,866.12
70 $70,866.12 $842.56 $0.00 $400.69 $72,109.37
71 $72,109.37 $842.56 $0.00 $407.72 $73,359.65
72 $73,359.65 $842.56 $0.00 $414.79 $74,617.00
73 $74,617.00 $842.56 $0.00 $421.90 $75,881.46
74 $75,881.46 $842.56 $0.00 $429.04 $77,153.06
75 $77,153.06 $842.56 $0.00 $436.23 $78,431.85
76 $78,431.85 $842.56 $0.00 $443.47 $79,717.88
77 $79,717.88 $842.56 $0.00 $450.74 $81,011.18
78 $81,011.18 $842.56 $0.00 $458.05 $82,311.79
79 $82,311.79 $842.56 $0.00 $465.40 $83,619.75
80 $83,619.75 $842.56 $0.00 $472.80 $84,935.11
81 $84,935.11 $842.56 $0.00 $480.24 $86,257.91
82 $86,257.91 $842.56 $0.00 $487.71 $87,588.18
83 $87,588.18 $842.56 $0.00 $495.24 $88,925.98
84 $88,925.98 $842.56 $0.00 $502.80 $90,271.34
85 $90,271.34 $842.56 $0.00 $510.41 $91,624.31
86 $91,624.31 $842.56 $0.00 $518.06 $92,984.93
87 $92,984.93 $842.56 $0.00 $525.75 $94,353.24
88 $94,353.24 $842.56 $0.00 $533.49 $95,729.29
89 $95,729.29 $842.56 $0.00 $541.27 $97,113.12
90 $97,113.12 $842.56 $0.00 $549.09 $98,504.77
91 $98,504.77 $842.56 $0.00 $556.96 $99,904.29
92 $99,904.29 $842.56 $0.00 $564.87 $101,311.72
93 $101,311.72 $842.56 $0.00 $572.83 $102,727.11
94 $102,727.11 $842.56 $0.00 $580.83 $104,150.50
95 $104,150.50 $842.56 $0.00 $588.88 $105,581.94
96 $105,581.94 $842.56 $0.00 $596.98 $107,021.48
97 $107,021.48 $842.56 $0.00 $605.12 $108,469.16
98 $108,469.16 $842.56 $0.00 $613.30 $109,925.02
99 $109,925.02 $842.56 $0.00 $621.53 $111,389.11
100 $111,389.11 $842.56 $0.00 $629.81 $112,861.48
101 $112,861.48 $842.56 $0.00 $638.14 $114,342.18
102 $114,342.18 $842.56 $0.00 $646.51 $115,831.25
103 $115,831.25 $842.56 $0.00 $654.93 $117,328.74
104 $117,328.74 $842.56 $0.00 $663.39 $118,834.69
105 $118,834.69 $842.56 $0.00 $671.91 $120,349.16
106 $120,349.16 $842.56 $0.00 $680.47 $121,872.19
107 $121,872.19 $842.56 $0.00 $689.08 $123,403.83
108 $123,403.83 $842.56 $0.00 $697.74 $124,944.13
109 $124,944.13 $842.56 $0.00 $706.45 $126,493.14
110 $126,493.14 $842.56 $0.00 $715.21 $128,050.91
111 $128,050.91 $842.56 $0.00 $724.02 $129,617.49
112 $129,617.49 $842.56 $0.00 $732.88 $131,192.93
113 $131,192.93 $842.56 $0.00 $741.78 $132,777.27
114 $132,777.27 $842.56 $0.00 $750.74 $134,370.57
115 $134,370.57 $842.56 $0.00 $759.75 $135,972.88
116 $135,972.88 $842.56 $0.00 $768.81 $137,584.25
117 $137,584.25 $842.56 $0.00 $777.92 $139,204.73
118 $139,204.73 $842.56 $0.00 $787.08 $140,834.37
119 $140,834.37 $842.56 $0.00 $796.30 $142,473.23
120 $142,473.23 $842.56 $0.00 $805.56 $144,121.35
121 $144,121.35 $842.56 $0.00 $814.88 $145,778.79
122 $145,778.79 $842.56 $0.00 $824.25 $147,445.60
123 $147,445.60 $842.56 $0.00 $833.68 $149,121.84
124 $149,121.84 $842.56 $0.00 $843.16 $150,807.56
125 $150,807.56 $842.56 $0.00 $852.69 $152,502.81
126 $152,502.81 $842.56 $0.00 $862.27 $154,207.64
127 $154,207.64 $842.56 $0.00 $871.91 $155,922.11
128 $155,922.11 $842.56 $0.00 $881.61 $157,646.28
129 $157,646.28 $842.56 $0.00 $891.35 $159,380.19
130 $159,380.19 $842.56 $0.00 $901.16 $161,123.91
131 $161,123.91 $842.56 $0.00 $911.02 $162,877.49
132 $162,877.49 $842.56 $0.00 $920.93 $164,640.98
133 $164,640.98 $842.56 $0.00 $930.90 $166,414.44
134 $166,414.44 $842.56 $0.00 $940.93 $168,197.93
135 $168,197.93 $842.56 $0.00 $951.02 $169,991.51
136 $169,991.51 $842.56 $0.00 $961.16 $171,795.23
137 $171,795.23 $842.56 $0.00 $971.36 $173,609.15
138 $173,609.15 $842.56 $0.00 $981.61 $175,433.32
139 $175,433.32 $842.56 $0.00 $991.93 $177,267.81
140 $177,267.81 $842.56 $0.00 $1,002.30 $179,112.67
141 $179,112.67 $842.56 $0.00 $1,012.73 $180,967.96
142 $180,967.96 $842.56 $0.00 $1,023.22 $182,833.74
143 $182,833.74 $842.56 $0.00 $1,033.77 $184,710.07
144 $184,710.07 $842.56 $0.00 $1,044.38 $186,597.01
145 $186,597.01 $842.56 $0.00 $1,055.05 $188,494.62
146 $188,494.62 $842.56 $0.00 $1,065.78 $190,402.96
147 $190,402.96 $842.56 $0.00 $1,076.57 $192,322.09
148 $192,322.09 $842.56 $0.00 $1,087.42 $194,252.07
149 $194,252.07 $842.56 $0.00 $1,098.33 $196,192.96
150 $196,192.96 $842.56 $0.00 $1,109.30 $198,144.82
151 $198,144.82 $842.56 $0.00 $1,120.34 $200,107.72
152 $200,107.72 $842.56 $0.00 $1,131.44 $202,081.72
153 $202,081.72 $842.56 $0.00 $1,142.60 $204,066.88
154 $204,066.88 $842.56 $0.00 $1,153.82 $206,063.26
155 $206,063.26 $842.56 $0.00 $1,165.11 $208,070.93
156 $208,070.93 $842.56 $0.00 $1,176.46 $210,089.95
157 $210,089.95 $842.56 $0.00 $1,187.88 $212,120.39
158 $212,120.39 $842.56 $0.00 $1,199.36 $214,162.31
159 $214,162.31 $842.56 $0.00 $1,210.90 $216,215.77
160 $216,215.77 $842.56 $0.00 $1,222.52 $218,280.85
161 $218,280.85 $842.56 $0.00 $1,234.19 $220,357.60
162 $220,357.60 $842.56 $0.00 $1,245.93 $222,446.09
163 $222,446.09 $842.56 $0.00 $1,257.74 $224,546.39
164 $224,546.39 $842.56 $0.00 $1,269.62 $226,658.57
165 $226,658.57 $842.56 $0.00 $1,281.56 $228,782.69
166 $228,782.69 $842.56 $0.00 $1,293.57 $230,918.82
167 $230,918.82 $842.56 $0.00 $1,305.65 $233,067.03
168 $233,067.03 $842.56 $0.00 $1,317.79 $235,227.38
169 $235,227.38 $842.56 $0.00 $1,330.01 $237,399.95
170 $237,399.95 $842.56 $0.00 $1,342.29 $239,584.80
171 $239,584.80 $842.56 $0.00 $1,354.65 $241,782.01
172 $241,782.01 $842.56 $0.00 $1,367.07 $243,991.64
173 $243,991.64 $842.56 $0.00 $1,379.56 $246,213.76
174 $246,213.76 $842.56 $0.00 $1,392.13 $248,448.45
175 $248,448.45 $842.56 $0.00 $1,404.76 $250,695.77
176 $250,695.77 $842.56 $0.00 $1,417.47 $252,955.80
177 $252,955.80 $842.56 $0.00 $1,430.25 $255,228.61
178 $255,228.61 $842.56 $0.00 $1,443.10 $257,514.27
179 $257,514.27 $842.56 $0.00 $1,456.02 $259,812.85
180 $259,812.85 $842.56 $0.00 $1,469.02 $262,124.43
181 $262,124.43 $842.56 $0.00 $1,482.09 $264,449.08
182 $264,449.08 $842.56 $0.00 $1,495.23 $266,786.87
183 $266,786.87 $842.56 $0.00 $1,508.45 $269,137.88
184 $269,137.88 $842.56 $0.00 $1,521.74 $271,502.18
185 $271,502.18 $842.56 $0.00 $1,535.11 $273,879.85
186 $273,879.85 $842.56 $0.00 $1,548.56 $276,270.97
187 $276,270.97 $842.56 $0.00 $1,562.08 $278,675.61
188 $278,675.61 $842.56 $0.00 $1,575.67 $281,093.84
189 $281,093.84 $842.56 $0.00 $1,589.35 $283,525.75
190 $283,525.75 $842.56 $0.00 $1,603.10 $285,971.41
191 $285,971.41 $842.56 $0.00 $1,616.92 $288,430.89
192 $288,430.89 $842.56 $0.00 $1,630.83 $290,904.28
193 $290,904.28 $842.56 $0.00 $1,644.82 $293,391.66
194 $293,391.66 $842.56 $0.00 $1,658.88 $295,893.10
195 $295,893.10 $842.56 $0.00 $1,673.02 $298,408.68
196 $298,408.68 $842.56 $0.00 $1,687.25 $300,938.49
197 $300,938.49 $842.56 $0.00 $1,701.55 $303,482.60
198 $303,482.60 $842.56 $0.00 $1,715.93 $306,041.09
199 $306,041.09 $842.56 $0.00 $1,730.40 $308,614.05
200 $308,614.05 $842.56 $0.00 $1,744.95 $311,201.56
201 $311,201.56 $842.56 $0.00 $1,759.58 $313,803.70
202 $313,803.70 $842.56 $0.00 $1,774.29 $316,420.55
203 $316,420.55 $842.56 $0.00 $1,789.09 $319,052.20
204 $319,052.20 $842.56 $0.00 $1,803.97 $321,698.73
205 $321,698.73 $842.56 $0.00 $1,818.93 $324,360.22
206 $324,360.22 $842.56 $0.00 $1,833.98 $327,036.76
207 $327,036.76 $842.56 $0.00 $1,849.11 $329,728.43
208 $329,728.43 $842.56 $0.00 $1,864.33 $332,435.32
209 $332,435.32 $842.56 $0.00 $1,879.64 $335,157.52
210 $335,157.52 $842.56 $0.00 $1,895.03 $337,895.11
211 $337,895.11 $842.56 $0.00 $1,910.51 $340,648.18
212 $340,648.18 $842.56 $0.00 $1,926.07 $343,416.81
213 $343,416.81 $842.56 $0.00 $1,941.73 $346,201.10
214 $346,201.10 $842.56 $0.00 $1,957.47 $349,001.13
215 $349,001.13 $842.56 $0.00 $1,973.30 $351,816.99
216 $351,816.99 $842.56 $0.00 $1,989.22 $354,648.77
217 $354,648.77 $842.56 $98,782.09 $2,005.24 $258,714.48
218 $258,714.48 $842.56 $0.00 $1,462.81 $261,019.85
219 $261,019.85 $842.56 $0.00 $1,475.84 $263,338.25
220 $263,338.25 $842.56 $0.00 $1,488.95 $265,669.76
221 $265,669.76 $842.56 $0.00 $1,502.14 $268,014.46
222 $268,014.46 $842.56 $0.00 $1,515.39 $270,372.41
223 $270,372.41 $842.56 $0.00 $1,528.72 $272,743.69
224 $272,743.69 $842.56 $0.00 $1,542.13 $275,128.38
225 $275,128.38 $842.56 $0.00 $1,555.62 $277,526.56
226 $277,526.56 $842.56 $0.00 $1,569.18 $279,938.30
227 $279,938.30 $842.56 $0.00 $1,582.81 $282,363.67
228 $282,363.67 $842.56 $0.00 $1,596.53 $284,802.76
229 $284,802.76 $842.56 $103,721.20 $1,610.32 $183,534.44
230 $183,534.44 $842.56 $0.00 $1,037.73 $185,414.73
231 $185,414.73 $842.56 $0.00 $1,048.36 $187,305.65
232 $187,305.65 $842.56 $0.00 $1,059.05 $189,207.26
233 $189,207.26 $842.56 $0.00 $1,069.81 $191,119.63
234 $191,119.63 $842.56 $0.00 $1,080.62 $193,042.81
235 $193,042.81 $842.56 $0.00 $1,091.49 $194,976.86
236 $194,976.86 $842.56 $0.00 $1,102.43 $196,921.85
237 $196,921.85 $842.56 $0.00 $1,113.42 $198,877.83
238 $198,877.83 $842.56 $0.00 $1,124.48 $200,844.87
239 $200,844.87 $842.56 $0.00 $1,135.61 $202,823.04
240 $202,823.04 $842.56 $0.00 $1,146.79 $204,812.39
241 $204,812.39 $842.56 $108,907.26 $1,158.04 $97,905.73
242 $97,905.73 $842.56 $0.00 $553.57 $99,301.86
243 $99,301.86 $842.56 $0.00 $561.47 $100,705.89
244 $100,705.89 $842.56 $0.00 $569.41 $102,117.86
245 $102,117.86 $842.56 $0.00 $577.39 $103,537.81
246 $103,537.81 $842.56 $0.00 $585.42 $104,965.79
247 $104,965.79 $842.56 $0.00 $593.49 $106,401.84
248 $106,401.84 $842.56 $0.00 $601.61 $107,846.01
249 $107,846.01 $842.56 $0.00 $609.78 $109,298.35
250 $109,298.35 $842.56 $0.00 $617.99 $110,758.90
251 $110,758.90 $842.56 $0.00 $626.25 $112,227.71
252 $112,227.71 $842.56 $0.00 $634.55 $113,704.82
253 $113,704.82 $0.00 $114,352.62 $642.90 ($4.90)