Savings Plan and Future Cost Estimation for Howard Payne University

How much will it cost and what do you need to save?

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$109,542
Monthly savings required$867

How much will it cost to send your child to Howard Payne University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $438,169.07 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $867.11 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$42,242.00
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 $867.11 $0.00 $0.00 $867.11
2 $867.11 $867.11 $0.00 $4.90 $1,739.12
3 $1,739.12 $867.11 $0.00 $9.83 $2,616.06
4 $2,616.06 $867.11 $0.00 $14.79 $3,497.96
5 $3,497.96 $867.11 $0.00 $19.78 $4,384.85
6 $4,384.85 $867.11 $0.00 $24.79 $5,276.75
7 $5,276.75 $867.11 $0.00 $29.84 $6,173.70
8 $6,173.70 $867.11 $0.00 $34.91 $7,075.72
9 $7,075.72 $867.11 $0.00 $40.01 $7,982.84
10 $7,982.84 $867.11 $0.00 $45.14 $8,895.09
11 $8,895.09 $867.11 $0.00 $50.29 $9,812.49
12 $9,812.49 $867.11 $0.00 $55.48 $10,735.08
13 $10,735.08 $867.11 $0.00 $60.70 $11,662.89
14 $11,662.89 $867.11 $0.00 $65.94 $12,595.94
15 $12,595.94 $867.11 $0.00 $71.22 $13,534.27
16 $13,534.27 $867.11 $0.00 $76.52 $14,477.90
17 $14,477.90 $867.11 $0.00 $81.86 $15,426.87
18 $15,426.87 $867.11 $0.00 $87.23 $16,381.21
19 $16,381.21 $867.11 $0.00 $92.62 $17,340.94
20 $17,340.94 $867.11 $0.00 $98.05 $18,306.10
21 $18,306.10 $867.11 $0.00 $103.51 $19,276.72
22 $19,276.72 $867.11 $0.00 $108.99 $20,252.82
23 $20,252.82 $867.11 $0.00 $114.51 $21,234.44
24 $21,234.44 $867.11 $0.00 $120.06 $22,221.61
25 $22,221.61 $867.11 $0.00 $125.64 $23,214.36
26 $23,214.36 $867.11 $0.00 $131.26 $24,212.73
27 $24,212.73 $867.11 $0.00 $136.90 $25,216.74
28 $25,216.74 $867.11 $0.00 $142.58 $26,226.43
29 $26,226.43 $867.11 $0.00 $148.29 $27,241.83
30 $27,241.83 $867.11 $0.00 $154.03 $28,262.97
31 $28,262.97 $867.11 $0.00 $159.80 $29,289.88
32 $29,289.88 $867.11 $0.00 $165.61 $30,322.60
33 $30,322.60 $867.11 $0.00 $171.45 $31,361.16
34 $31,361.16 $867.11 $0.00 $177.32 $32,405.59
35 $32,405.59 $867.11 $0.00 $183.23 $33,455.93
36 $33,455.93 $867.11 $0.00 $189.16 $34,512.20
37 $34,512.20 $867.11 $0.00 $195.14 $35,574.45
38 $35,574.45 $867.11 $0.00 $201.14 $36,642.70
39 $36,642.70 $867.11 $0.00 $207.18 $37,716.99
40 $37,716.99 $867.11 $0.00 $213.26 $38,797.36
41 $38,797.36 $867.11 $0.00 $219.37 $39,883.84
42 $39,883.84 $867.11 $0.00 $225.51 $40,976.46
43 $40,976.46 $867.11 $0.00 $231.69 $42,075.26
44 $42,075.26 $867.11 $0.00 $237.90 $43,180.27
45 $43,180.27 $867.11 $0.00 $244.15 $44,291.53
46 $44,291.53 $867.11 $0.00 $250.43 $45,409.07
47 $45,409.07 $867.11 $0.00 $256.75 $46,532.93
48 $46,532.93 $867.11 $0.00 $263.10 $47,663.14
49 $47,663.14 $867.11 $0.00 $269.49 $48,799.74
50 $48,799.74 $867.11 $0.00 $275.92 $49,942.77
51 $49,942.77 $867.11 $0.00 $282.38 $51,092.26
52 $51,092.26 $867.11 $0.00 $288.88 $52,248.25
53 $52,248.25 $867.11 $0.00 $295.42 $53,410.78
54 $53,410.78 $867.11 $0.00 $301.99 $54,579.88
55 $54,579.88 $867.11 $0.00 $308.60 $55,755.59
56 $55,755.59 $867.11 $0.00 $315.25 $56,937.95
57 $56,937.95 $867.11 $0.00 $321.94 $58,127.00
58 $58,127.00 $867.11 $0.00 $328.66 $59,322.77
59 $59,322.77 $867.11 $0.00 $335.42 $60,525.30
60 $60,525.30 $867.11 $0.00 $342.22 $61,734.63
61 $61,734.63 $867.11 $0.00 $349.06 $62,950.80
62 $62,950.80 $867.11 $0.00 $355.93 $64,173.84
63 $64,173.84 $867.11 $0.00 $362.85 $65,403.80
64 $65,403.80 $867.11 $0.00 $369.80 $66,640.71
65 $66,640.71 $867.11 $0.00 $376.80 $67,884.62
66 $67,884.62 $867.11 $0.00 $383.83 $69,135.56
67 $69,135.56 $867.11 $0.00 $390.90 $70,393.57
68 $70,393.57 $867.11 $0.00 $398.02 $71,658.70
69 $71,658.70 $867.11 $0.00 $405.17 $72,930.98
70 $72,930.98 $867.11 $0.00 $412.36 $74,210.45
71 $74,210.45 $867.11 $0.00 $419.60 $75,497.16
72 $75,497.16 $867.11 $0.00 $426.87 $76,791.14
73 $76,791.14 $867.11 $0.00 $434.19 $78,092.44
74 $78,092.44 $867.11 $0.00 $441.55 $79,401.10
75 $79,401.10 $867.11 $0.00 $448.95 $80,717.16
76 $80,717.16 $867.11 $0.00 $456.39 $82,040.66
77 $82,040.66 $867.11 $0.00 $463.87 $83,371.64
78 $83,371.64 $867.11 $0.00 $471.40 $84,710.15
79 $84,710.15 $867.11 $0.00 $478.96 $86,056.22
80 $86,056.22 $867.11 $0.00 $486.57 $87,409.90
81 $87,409.90 $867.11 $0.00 $494.23 $88,771.24
82 $88,771.24 $867.11 $0.00 $501.93 $90,140.28
83 $90,140.28 $867.11 $0.00 $509.67 $91,517.06
84 $91,517.06 $867.11 $0.00 $517.45 $92,901.62
85 $92,901.62 $867.11 $0.00 $525.28 $94,294.01
86 $94,294.01 $867.11 $0.00 $533.15 $95,694.27
87 $95,694.27 $867.11 $0.00 $541.07 $97,102.45
88 $97,102.45 $867.11 $0.00 $549.03 $98,518.59
89 $98,518.59 $867.11 $0.00 $557.04 $99,942.74
90 $99,942.74 $867.11 $0.00 $565.09 $101,374.94
91 $101,374.94 $867.11 $0.00 $573.19 $102,815.24
92 $102,815.24 $867.11 $0.00 $581.33 $104,263.68
93 $104,263.68 $867.11 $0.00 $589.52 $105,720.31
94 $105,720.31 $867.11 $0.00 $597.76 $107,185.18
95 $107,185.18 $867.11 $0.00 $606.04 $108,658.33
96 $108,658.33 $867.11 $0.00 $614.37 $110,139.81
97 $110,139.81 $867.11 $0.00 $622.75 $111,629.67
98 $111,629.67 $867.11 $0.00 $631.17 $113,127.95
99 $113,127.95 $867.11 $0.00 $639.64 $114,634.70
100 $114,634.70 $867.11 $0.00 $648.16 $116,149.97
101 $116,149.97 $867.11 $0.00 $656.73 $117,673.81
102 $117,673.81 $867.11 $0.00 $665.34 $119,206.26
103 $119,206.26 $867.11 $0.00 $674.01 $120,747.38
104 $120,747.38 $867.11 $0.00 $682.72 $122,297.21
105 $122,297.21 $867.11 $0.00 $691.49 $123,855.81
106 $123,855.81 $867.11 $0.00 $700.30 $125,423.22
107 $125,423.22 $867.11 $0.00 $709.16 $126,999.49
108 $126,999.49 $867.11 $0.00 $718.07 $128,584.67
109 $128,584.67 $867.11 $0.00 $727.04 $130,178.82
110 $130,178.82 $867.11 $0.00 $736.05 $131,781.98
111 $131,781.98 $867.11 $0.00 $745.11 $133,394.20
112 $133,394.20 $867.11 $0.00 $754.23 $135,015.54
113 $135,015.54 $867.11 $0.00 $763.40 $136,646.05
114 $136,646.05 $867.11 $0.00 $772.62 $138,285.78
115 $138,285.78 $867.11 $0.00 $781.89 $139,934.78
116 $139,934.78 $867.11 $0.00 $791.21 $141,593.10
117 $141,593.10 $867.11 $0.00 $800.59 $143,260.80
118 $143,260.80 $867.11 $0.00 $810.02 $144,937.93
119 $144,937.93 $867.11 $0.00 $819.50 $146,624.54
120 $146,624.54 $867.11 $0.00 $829.04 $148,320.69
121 $148,320.69 $867.11 $0.00 $838.63 $150,026.43
122 $150,026.43 $867.11 $0.00 $848.27 $151,741.81
123 $151,741.81 $867.11 $0.00 $857.97 $153,466.89
124 $153,466.89 $867.11 $0.00 $867.72 $155,201.72
125 $155,201.72 $867.11 $0.00 $877.53 $156,946.36
126 $156,946.36 $867.11 $0.00 $887.40 $158,700.87
127 $158,700.87 $867.11 $0.00 $897.32 $160,465.30
128 $160,465.30 $867.11 $0.00 $907.29 $162,239.70
129 $162,239.70 $867.11 $0.00 $917.33 $164,024.14
130 $164,024.14 $867.11 $0.00 $927.42 $165,818.67
131 $165,818.67 $867.11 $0.00 $937.56 $167,623.34
132 $167,623.34 $867.11 $0.00 $947.77 $169,438.22
133 $169,438.22 $867.11 $0.00 $958.03 $171,263.36
134 $171,263.36 $867.11 $0.00 $968.35 $173,098.82
135 $173,098.82 $867.11 $0.00 $978.73 $174,944.66
136 $174,944.66 $867.11 $0.00 $989.16 $176,800.93
137 $176,800.93 $867.11 $0.00 $999.66 $178,667.70
138 $178,667.70 $867.11 $0.00 $1,010.21 $180,545.02
139 $180,545.02 $867.11 $0.00 $1,020.83 $182,432.96
140 $182,432.96 $867.11 $0.00 $1,031.50 $184,331.57
141 $184,331.57 $867.11 $0.00 $1,042.24 $186,240.92
142 $186,240.92 $867.11 $0.00 $1,053.03 $188,161.06
143 $188,161.06 $867.11 $0.00 $1,063.89 $190,092.06
144 $190,092.06 $867.11 $0.00 $1,074.81 $192,033.98
145 $192,033.98 $867.11 $0.00 $1,085.79 $193,986.88
146 $193,986.88 $867.11 $0.00 $1,096.83 $195,950.82
147 $195,950.82 $867.11 $0.00 $1,107.93 $197,925.86
148 $197,925.86 $867.11 $0.00 $1,119.10 $199,912.07
149 $199,912.07 $867.11 $0.00 $1,130.33 $201,909.51
150 $201,909.51 $867.11 $0.00 $1,141.63 $203,918.25
151 $203,918.25 $867.11 $0.00 $1,152.98 $205,938.34
152 $205,938.34 $867.11 $0.00 $1,164.41 $207,969.86
153 $207,969.86 $867.11 $0.00 $1,175.89 $210,012.86
154 $210,012.86 $867.11 $0.00 $1,187.44 $212,067.41
155 $212,067.41 $867.11 $0.00 $1,199.06 $214,133.58
156 $214,133.58 $867.11 $0.00 $1,210.74 $216,211.43
157 $216,211.43 $867.11 $0.00 $1,222.49 $218,301.03
158 $218,301.03 $867.11 $0.00 $1,234.31 $220,402.45
159 $220,402.45 $867.11 $0.00 $1,246.19 $222,515.75
160 $222,515.75 $867.11 $0.00 $1,258.14 $224,641.00
161 $224,641.00 $867.11 $0.00 $1,270.15 $226,778.26
162 $226,778.26 $867.11 $0.00 $1,282.24 $228,927.61
163 $228,927.61 $867.11 $0.00 $1,294.39 $231,089.11
164 $231,089.11 $867.11 $0.00 $1,306.61 $233,262.83
165 $233,262.83 $867.11 $0.00 $1,318.90 $235,448.84
166 $235,448.84 $867.11 $0.00 $1,331.26 $237,647.21
167 $237,647.21 $867.11 $0.00 $1,343.69 $239,858.01
168 $239,858.01 $867.11 $0.00 $1,356.19 $242,081.31
169 $242,081.31 $867.11 $0.00 $1,368.76 $244,317.18
170 $244,317.18 $867.11 $0.00 $1,381.40 $246,565.69
171 $246,565.69 $867.11 $0.00 $1,394.12 $248,826.92
172 $248,826.92 $867.11 $0.00 $1,406.90 $251,100.93
173 $251,100.93 $867.11 $0.00 $1,419.76 $253,387.80
174 $253,387.80 $867.11 $0.00 $1,432.69 $255,687.60
175 $255,687.60 $867.11 $0.00 $1,445.69 $258,000.40
176 $258,000.40 $867.11 $0.00 $1,458.77 $260,326.28
177 $260,326.28 $867.11 $0.00 $1,471.92 $262,665.31
178 $262,665.31 $867.11 $0.00 $1,485.15 $265,017.57
179 $265,017.57 $867.11 $0.00 $1,498.45 $267,383.13
180 $267,383.13 $867.11 $0.00 $1,511.82 $269,762.06
181 $269,762.06 $867.11 $0.00 $1,525.27 $272,154.44
182 $272,154.44 $867.11 $0.00 $1,538.80 $274,560.35
183 $274,560.35 $867.11 $0.00 $1,552.40 $276,979.86
184 $276,979.86 $867.11 $0.00 $1,566.08 $279,413.05
185 $279,413.05 $867.11 $0.00 $1,579.84 $281,860.00
186 $281,860.00 $867.11 $0.00 $1,593.68 $284,320.79
187 $284,320.79 $867.11 $0.00 $1,607.59 $286,795.49
188 $286,795.49 $867.11 $0.00 $1,621.58 $289,284.18
189 $289,284.18 $867.11 $0.00 $1,635.65 $291,786.94
190 $291,786.94 $867.11 $0.00 $1,649.81 $294,303.86
191 $294,303.86 $867.11 $0.00 $1,664.04 $296,835.01
192 $296,835.01 $867.11 $0.00 $1,678.35 $299,380.47
193 $299,380.47 $867.11 $0.00 $1,692.74 $301,940.32
194 $301,940.32 $867.11 $0.00 $1,707.21 $304,514.64
195 $304,514.64 $867.11 $0.00 $1,721.77 $307,103.52
196 $307,103.52 $867.11 $0.00 $1,736.41 $309,707.04
197 $309,707.04 $867.11 $0.00 $1,751.13 $312,325.28
198 $312,325.28 $867.11 $0.00 $1,765.93 $314,958.32
199 $314,958.32 $867.11 $0.00 $1,780.82 $317,606.25
200 $317,606.25 $867.11 $0.00 $1,795.79 $320,269.15
201 $320,269.15 $867.11 $0.00 $1,810.85 $322,947.11
202 $322,947.11 $867.11 $0.00 $1,825.99 $325,640.21
203 $325,640.21 $867.11 $0.00 $1,841.22 $328,348.54
204 $328,348.54 $867.11 $0.00 $1,856.53 $331,072.18
205 $331,072.18 $867.11 $0.00 $1,871.93 $333,811.22
206 $333,811.22 $867.11 $0.00 $1,887.42 $336,565.75
207 $336,565.75 $867.11 $0.00 $1,902.99 $339,335.85
208 $339,335.85 $867.11 $0.00 $1,918.65 $342,121.61
209 $342,121.61 $867.11 $0.00 $1,934.41 $344,923.13
210 $344,923.13 $867.11 $0.00 $1,950.25 $347,740.49
211 $347,740.49 $867.11 $0.00 $1,966.18 $350,573.78
212 $350,573.78 $867.11 $0.00 $1,982.20 $353,423.09
213 $353,423.09 $867.11 $0.00 $1,998.31 $356,288.51
214 $356,288.51 $867.11 $0.00 $2,014.51 $359,170.13
215 $359,170.13 $867.11 $0.00 $2,030.80 $362,068.04
216 $362,068.04 $867.11 $0.00 $2,047.19 $364,982.34
217 $364,982.34 $867.11 $101,660.41 $2,063.66 $266,252.70
218 $266,252.70 $867.11 $0.00 $1,505.43 $268,625.24
219 $268,625.24 $867.11 $0.00 $1,518.85 $271,011.20
220 $271,011.20 $867.11 $0.00 $1,532.34 $273,410.65
221 $273,410.65 $867.11 $0.00 $1,545.90 $275,823.66
222 $275,823.66 $867.11 $0.00 $1,559.55 $278,250.32
223 $278,250.32 $867.11 $0.00 $1,573.27 $280,690.70
224 $280,690.70 $867.11 $0.00 $1,587.07 $283,144.88
225 $283,144.88 $867.11 $0.00 $1,600.94 $285,612.93
226 $285,612.93 $867.11 $0.00 $1,614.90 $288,094.94
227 $288,094.94 $867.11 $0.00 $1,628.93 $290,590.98
228 $290,590.98 $867.11 $0.00 $1,643.04 $293,101.13
229 $293,101.13 $867.11 $106,743.43 $1,657.24 $188,882.05
230 $188,882.05 $867.11 $0.00 $1,067.97 $190,817.13
231 $190,817.13 $867.11 $0.00 $1,078.91 $192,763.15
232 $192,763.15 $867.11 $0.00 $1,089.91 $194,720.17
233 $194,720.17 $867.11 $0.00 $1,100.98 $196,688.26
234 $196,688.26 $867.11 $0.00 $1,112.10 $198,667.47
235 $198,667.47 $867.11 $0.00 $1,123.29 $200,657.87
236 $200,657.87 $867.11 $0.00 $1,134.55 $202,659.53
237 $202,659.53 $867.11 $0.00 $1,145.87 $204,672.51
238 $204,672.51 $867.11 $0.00 $1,157.25 $206,696.87
239 $206,696.87 $867.11 $0.00 $1,168.69 $208,732.67
240 $208,732.67 $867.11 $0.00 $1,180.20 $210,779.98
241 $210,779.98 $867.11 $112,080.60 $1,191.78 $100,758.27
242 $100,758.27 $867.11 $0.00 $569.70 $102,195.08
243 $102,195.08 $867.11 $0.00 $577.83 $103,640.02
244 $103,640.02 $867.11 $0.00 $586.00 $105,093.13
245 $105,093.13 $867.11 $0.00 $594.21 $106,554.45
246 $106,554.45 $867.11 $0.00 $602.47 $108,024.03
247 $108,024.03 $867.11 $0.00 $610.78 $109,501.92
248 $109,501.92 $867.11 $0.00 $619.14 $110,988.17
249 $110,988.17 $867.11 $0.00 $627.54 $112,482.82
250 $112,482.82 $867.11 $0.00 $635.99 $113,985.92
251 $113,985.92 $867.11 $0.00 $644.49 $115,497.52
252 $115,497.52 $867.11 $0.00 $653.04 $117,017.67
253 $117,017.67 $0.00 $117,684.63 $661.63 ($5.33)