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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$63,311
Monthly savings required$501

How much will it cost to send your child to Huston Tillotson University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $253,242.26 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $501.15 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$24,414.00
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 $501.15 $0.00 $0.00 $501.15
2 $501.15 $501.15 $0.00 $2.83 $1,005.13
3 $1,005.13 $501.15 $0.00 $5.68 $1,511.96
4 $1,511.96 $501.15 $0.00 $8.55 $2,021.66
5 $2,021.66 $501.15 $0.00 $11.43 $2,534.24
6 $2,534.24 $501.15 $0.00 $14.33 $3,049.72
7 $3,049.72 $501.15 $0.00 $17.24 $3,568.11
8 $3,568.11 $501.15 $0.00 $20.17 $4,089.43
9 $4,089.43 $501.15 $0.00 $23.12 $4,613.70
10 $4,613.70 $501.15 $0.00 $26.09 $5,140.94
11 $5,140.94 $501.15 $0.00 $29.07 $5,671.16
12 $5,671.16 $501.15 $0.00 $32.07 $6,204.38
13 $6,204.38 $501.15 $0.00 $35.08 $6,740.61
14 $6,740.61 $501.15 $0.00 $38.11 $7,279.87
15 $7,279.87 $501.15 $0.00 $41.16 $7,822.18
16 $7,822.18 $501.15 $0.00 $44.23 $8,367.56
17 $8,367.56 $501.15 $0.00 $47.31 $8,916.02
18 $8,916.02 $501.15 $0.00 $50.41 $9,467.58
19 $9,467.58 $501.15 $0.00 $53.53 $10,022.26
20 $10,022.26 $501.15 $0.00 $56.67 $10,580.08
21 $10,580.08 $501.15 $0.00 $59.82 $11,141.05
22 $11,141.05 $501.15 $0.00 $62.99 $11,705.19
23 $11,705.19 $501.15 $0.00 $66.18 $12,272.52
24 $12,272.52 $501.15 $0.00 $69.39 $12,843.06
25 $12,843.06 $501.15 $0.00 $72.62 $13,416.83
26 $13,416.83 $501.15 $0.00 $75.86 $13,993.84
27 $13,993.84 $501.15 $0.00 $79.12 $14,574.11
28 $14,574.11 $501.15 $0.00 $82.40 $15,157.66
29 $15,157.66 $501.15 $0.00 $85.70 $15,744.51
30 $15,744.51 $501.15 $0.00 $89.02 $16,334.68
31 $16,334.68 $501.15 $0.00 $92.36 $16,928.19
32 $16,928.19 $501.15 $0.00 $95.71 $17,525.05
33 $17,525.05 $501.15 $0.00 $99.09 $18,125.29
34 $18,125.29 $501.15 $0.00 $102.48 $18,728.92
35 $18,728.92 $501.15 $0.00 $105.90 $19,335.97
36 $19,335.97 $501.15 $0.00 $109.33 $19,946.45
37 $19,946.45 $501.15 $0.00 $112.78 $20,560.38
38 $20,560.38 $501.15 $0.00 $116.25 $21,177.78
39 $21,177.78 $501.15 $0.00 $119.74 $21,798.67
40 $21,798.67 $501.15 $0.00 $123.25 $22,423.07
41 $22,423.07 $501.15 $0.00 $126.78 $23,051.00
42 $23,051.00 $501.15 $0.00 $130.33 $23,682.48
43 $23,682.48 $501.15 $0.00 $133.90 $24,317.53
44 $24,317.53 $501.15 $0.00 $137.49 $24,956.17
45 $24,956.17 $501.15 $0.00 $141.11 $25,598.43
46 $25,598.43 $501.15 $0.00 $144.74 $26,244.32
47 $26,244.32 $501.15 $0.00 $148.39 $26,893.86
48 $26,893.86 $501.15 $0.00 $152.06 $27,547.07
49 $27,547.07 $501.15 $0.00 $155.76 $28,203.98
50 $28,203.98 $501.15 $0.00 $159.47 $28,864.60
51 $28,864.60 $501.15 $0.00 $163.20 $29,528.95
52 $29,528.95 $501.15 $0.00 $166.96 $30,197.06
53 $30,197.06 $501.15 $0.00 $170.74 $30,868.95
54 $30,868.95 $501.15 $0.00 $174.54 $31,544.64
55 $31,544.64 $501.15 $0.00 $178.36 $32,224.15
56 $32,224.15 $501.15 $0.00 $182.20 $32,907.50
57 $32,907.50 $501.15 $0.00 $186.06 $33,594.71
58 $33,594.71 $501.15 $0.00 $189.95 $34,285.81
59 $34,285.81 $501.15 $0.00 $193.86 $34,980.82
60 $34,980.82 $501.15 $0.00 $197.79 $35,679.76
61 $35,679.76 $501.15 $0.00 $201.74 $36,382.65
62 $36,382.65 $501.15 $0.00 $205.71 $37,089.51
63 $37,089.51 $501.15 $0.00 $209.71 $37,800.37
64 $37,800.37 $501.15 $0.00 $213.73 $38,515.25
65 $38,515.25 $501.15 $0.00 $217.77 $39,234.17
66 $39,234.17 $501.15 $0.00 $221.84 $39,957.16
67 $39,957.16 $501.15 $0.00 $225.92 $40,684.23
68 $40,684.23 $501.15 $0.00 $230.03 $41,415.41
69 $41,415.41 $501.15 $0.00 $234.17 $42,150.73
70 $42,150.73 $501.15 $0.00 $238.33 $42,890.21
71 $42,890.21 $501.15 $0.00 $242.51 $43,633.87
72 $43,633.87 $501.15 $0.00 $246.71 $44,381.73
73 $44,381.73 $501.15 $0.00 $250.94 $45,133.82
74 $45,133.82 $501.15 $0.00 $255.19 $45,890.16
75 $45,890.16 $501.15 $0.00 $259.47 $46,650.78
76 $46,650.78 $501.15 $0.00 $263.77 $47,415.70
77 $47,415.70 $501.15 $0.00 $268.10 $48,184.95
78 $48,184.95 $501.15 $0.00 $272.44 $48,958.54
79 $48,958.54 $501.15 $0.00 $276.82 $49,736.51
80 $49,736.51 $501.15 $0.00 $281.22 $50,518.88
81 $50,518.88 $501.15 $0.00 $285.64 $51,305.67
82 $51,305.67 $501.15 $0.00 $290.09 $52,096.91
83 $52,096.91 $501.15 $0.00 $294.56 $52,892.62
84 $52,892.62 $501.15 $0.00 $299.06 $53,692.83
85 $53,692.83 $501.15 $0.00 $303.59 $54,497.57
86 $54,497.57 $501.15 $0.00 $308.14 $55,306.86
87 $55,306.86 $501.15 $0.00 $312.71 $56,120.72
88 $56,120.72 $501.15 $0.00 $317.31 $56,939.18
89 $56,939.18 $501.15 $0.00 $321.94 $57,762.27
90 $57,762.27 $501.15 $0.00 $326.60 $58,590.02
91 $58,590.02 $501.15 $0.00 $331.28 $59,422.45
92 $59,422.45 $501.15 $0.00 $335.98 $60,259.58
93 $60,259.58 $501.15 $0.00 $340.72 $61,101.45
94 $61,101.45 $501.15 $0.00 $345.48 $61,948.08
95 $61,948.08 $501.15 $0.00 $350.26 $62,799.49
96 $62,799.49 $501.15 $0.00 $355.08 $63,655.72
97 $63,655.72 $501.15 $0.00 $359.92 $64,516.79
98 $64,516.79 $501.15 $0.00 $364.79 $65,382.73
99 $65,382.73 $501.15 $0.00 $369.68 $66,253.56
100 $66,253.56 $501.15 $0.00 $374.61 $67,129.32
101 $67,129.32 $501.15 $0.00 $379.56 $68,010.03
102 $68,010.03 $501.15 $0.00 $384.54 $68,895.72
103 $68,895.72 $501.15 $0.00 $389.55 $69,786.42
104 $69,786.42 $501.15 $0.00 $394.58 $70,682.15
105 $70,682.15 $501.15 $0.00 $399.65 $71,582.95
106 $71,582.95 $501.15 $0.00 $404.74 $72,488.84
107 $72,488.84 $501.15 $0.00 $409.86 $73,399.85
108 $73,399.85 $501.15 $0.00 $415.01 $74,316.01
109 $74,316.01 $501.15 $0.00 $420.19 $75,237.35
110 $75,237.35 $501.15 $0.00 $425.40 $76,163.90
111 $76,163.90 $501.15 $0.00 $430.64 $77,095.69
112 $77,095.69 $501.15 $0.00 $435.91 $78,032.75
113 $78,032.75 $501.15 $0.00 $441.21 $78,975.11
114 $78,975.11 $501.15 $0.00 $446.54 $79,922.80
115 $79,922.80 $501.15 $0.00 $451.90 $80,875.85
116 $80,875.85 $501.15 $0.00 $457.28 $81,834.28
117 $81,834.28 $501.15 $0.00 $462.70 $82,798.13
118 $82,798.13 $501.15 $0.00 $468.15 $83,767.43
119 $83,767.43 $501.15 $0.00 $473.63 $84,742.21
120 $84,742.21 $501.15 $0.00 $479.14 $85,722.50
121 $85,722.50 $501.15 $0.00 $484.69 $86,708.34
122 $86,708.34 $501.15 $0.00 $490.26 $87,699.75
123 $87,699.75 $501.15 $0.00 $495.87 $88,696.77
124 $88,696.77 $501.15 $0.00 $501.50 $89,699.42
125 $89,699.42 $501.15 $0.00 $507.17 $90,707.74
126 $90,707.74 $501.15 $0.00 $512.87 $91,721.76
127 $91,721.76 $501.15 $0.00 $518.61 $92,741.52
128 $92,741.52 $501.15 $0.00 $524.37 $93,767.04
129 $93,767.04 $501.15 $0.00 $530.17 $94,798.36
130 $94,798.36 $501.15 $0.00 $536.00 $95,835.51
131 $95,835.51 $501.15 $0.00 $541.87 $96,878.53
132 $96,878.53 $501.15 $0.00 $547.77 $97,927.45
133 $97,927.45 $501.15 $0.00 $553.70 $98,982.30
134 $98,982.30 $501.15 $0.00 $559.66 $100,043.11
135 $100,043.11 $501.15 $0.00 $565.66 $101,109.92
136 $101,109.92 $501.15 $0.00 $571.69 $102,182.76
137 $102,182.76 $501.15 $0.00 $577.76 $103,261.67
138 $103,261.67 $501.15 $0.00 $583.86 $104,346.68
139 $104,346.68 $501.15 $0.00 $589.99 $105,437.82
140 $105,437.82 $501.15 $0.00 $596.16 $106,535.13
141 $106,535.13 $501.15 $0.00 $602.37 $107,638.65
142 $107,638.65 $501.15 $0.00 $608.60 $108,748.40
143 $108,748.40 $501.15 $0.00 $614.88 $109,864.43
144 $109,864.43 $501.15 $0.00 $621.19 $110,986.77
145 $110,986.77 $501.15 $0.00 $627.54 $112,115.46
146 $112,115.46 $501.15 $0.00 $633.92 $113,250.53
147 $113,250.53 $501.15 $0.00 $640.33 $114,392.01
148 $114,392.01 $501.15 $0.00 $646.79 $115,539.95
149 $115,539.95 $501.15 $0.00 $653.28 $116,694.38
150 $116,694.38 $501.15 $0.00 $659.81 $117,855.34
151 $117,855.34 $501.15 $0.00 $666.37 $119,022.86
152 $119,022.86 $501.15 $0.00 $672.97 $120,196.98
153 $120,196.98 $501.15 $0.00 $679.61 $121,377.74
154 $121,377.74 $501.15 $0.00 $686.29 $122,565.18
155 $122,565.18 $501.15 $0.00 $693.00 $123,759.33
156 $123,759.33 $501.15 $0.00 $699.75 $124,960.23
157 $124,960.23 $501.15 $0.00 $706.54 $126,167.92
158 $126,167.92 $501.15 $0.00 $713.37 $127,382.44
159 $127,382.44 $501.15 $0.00 $720.24 $128,603.83
160 $128,603.83 $501.15 $0.00 $727.14 $129,832.12
161 $129,832.12 $501.15 $0.00 $734.09 $131,067.36
162 $131,067.36 $501.15 $0.00 $741.07 $132,309.58
163 $132,309.58 $501.15 $0.00 $748.10 $133,558.83
164 $133,558.83 $501.15 $0.00 $755.16 $134,815.14
165 $134,815.14 $501.15 $0.00 $762.26 $136,078.55
166 $136,078.55 $501.15 $0.00 $769.41 $137,349.11
167 $137,349.11 $501.15 $0.00 $776.59 $138,626.85
168 $138,626.85 $501.15 $0.00 $783.82 $139,911.82
169 $139,911.82 $501.15 $0.00 $791.08 $141,204.05
170 $141,204.05 $501.15 $0.00 $798.39 $142,503.59
171 $142,503.59 $501.15 $0.00 $805.74 $143,810.48
172 $143,810.48 $501.15 $0.00 $813.13 $145,124.76
173 $145,124.76 $501.15 $0.00 $820.56 $146,446.47
174 $146,446.47 $501.15 $0.00 $828.03 $147,775.65
175 $147,775.65 $501.15 $0.00 $835.55 $149,112.35
176 $149,112.35 $501.15 $0.00 $843.10 $150,456.60
177 $150,456.60 $501.15 $0.00 $850.70 $151,808.45
178 $151,808.45 $501.15 $0.00 $858.35 $153,167.95
179 $153,167.95 $501.15 $0.00 $866.03 $154,535.13
180 $154,535.13 $501.15 $0.00 $873.76 $155,910.04
181 $155,910.04 $501.15 $0.00 $881.54 $157,292.73
182 $157,292.73 $501.15 $0.00 $889.36 $158,683.24
183 $158,683.24 $501.15 $0.00 $897.22 $160,081.61
184 $160,081.61 $501.15 $0.00 $905.12 $161,487.88
185 $161,487.88 $501.15 $0.00 $913.08 $162,902.11
186 $162,902.11 $501.15 $0.00 $921.07 $164,324.33
187 $164,324.33 $501.15 $0.00 $929.11 $165,754.59
188 $165,754.59 $501.15 $0.00 $937.20 $167,192.94
189 $167,192.94 $501.15 $0.00 $945.33 $168,639.42
190 $168,639.42 $501.15 $0.00 $953.51 $170,094.08
191 $170,094.08 $501.15 $0.00 $961.74 $171,556.97
192 $171,556.97 $501.15 $0.00 $970.01 $173,028.13
193 $173,028.13 $501.15 $0.00 $978.33 $174,507.61
194 $174,507.61 $501.15 $0.00 $986.69 $175,995.45
195 $175,995.45 $501.15 $0.00 $995.10 $177,491.70
196 $177,491.70 $501.15 $0.00 $1,003.56 $178,996.41
197 $178,996.41 $501.15 $0.00 $1,012.07 $180,509.63
198 $180,509.63 $501.15 $0.00 $1,020.63 $182,031.41
199 $182,031.41 $501.15 $0.00 $1,029.23 $183,561.79
200 $183,561.79 $501.15 $0.00 $1,037.89 $185,100.83
201 $185,100.83 $501.15 $0.00 $1,046.59 $186,648.57
202 $186,648.57 $501.15 $0.00 $1,055.34 $188,205.06
203 $188,205.06 $501.15 $0.00 $1,064.14 $189,770.35
204 $189,770.35 $501.15 $0.00 $1,072.99 $191,344.49
205 $191,344.49 $501.15 $0.00 $1,081.89 $192,927.53
206 $192,927.53 $501.15 $0.00 $1,090.84 $194,519.52
207 $194,519.52 $501.15 $0.00 $1,099.84 $196,120.51
208 $196,120.51 $501.15 $0.00 $1,108.89 $197,730.55
209 $197,730.55 $501.15 $0.00 $1,118.00 $199,349.70
210 $199,349.70 $501.15 $0.00 $1,127.15 $200,978.00
211 $200,978.00 $501.15 $0.00 $1,136.36 $202,615.51
212 $202,615.51 $501.15 $0.00 $1,145.62 $204,262.28
213 $204,262.28 $501.15 $0.00 $1,154.93 $205,918.36
214 $205,918.36 $501.15 $0.00 $1,164.29 $207,583.80
215 $207,583.80 $501.15 $0.00 $1,173.71 $209,258.66
216 $209,258.66 $501.15 $0.00 $1,183.18 $210,942.99
217 $210,942.99 $501.15 $58,755.20 $1,192.70 $153,881.64
218 $153,881.64 $501.15 $0.00 $870.07 $155,252.86
219 $155,252.86 $501.15 $0.00 $877.82 $156,631.83
220 $156,631.83 $501.15 $0.00 $885.62 $158,018.60
221 $158,018.60 $501.15 $0.00 $893.46 $159,413.21
222 $159,413.21 $501.15 $0.00 $901.35 $160,815.71
223 $160,815.71 $501.15 $0.00 $909.28 $162,226.14
224 $162,226.14 $501.15 $0.00 $917.25 $163,644.54
225 $163,644.54 $501.15 $0.00 $925.27 $165,070.96
226 $165,070.96 $501.15 $0.00 $933.34 $166,505.45
227 $166,505.45 $501.15 $0.00 $941.45 $167,948.05
228 $167,948.05 $501.15 $0.00 $949.60 $169,398.80
229 $169,398.80 $501.15 $61,692.96 $957.81 $109,164.80
230 $109,164.80 $501.15 $0.00 $617.23 $110,283.18
231 $110,283.18 $501.15 $0.00 $623.56 $111,407.89
232 $111,407.89 $501.15 $0.00 $629.92 $112,538.96
233 $112,538.96 $501.15 $0.00 $636.31 $113,676.42
234 $113,676.42 $501.15 $0.00 $642.74 $114,820.31
235 $114,820.31 $501.15 $0.00 $649.21 $115,970.67
236 $115,970.67 $501.15 $0.00 $655.72 $117,127.54
237 $117,127.54 $501.15 $0.00 $662.26 $118,290.95
238 $118,290.95 $501.15 $0.00 $668.83 $119,460.93
239 $119,460.93 $501.15 $0.00 $675.45 $120,637.53
240 $120,637.53 $501.15 $0.00 $682.10 $121,820.78
241 $121,820.78 $501.15 $64,777.61 $688.79 $58,233.11
242 $58,233.11 $501.15 $0.00 $329.26 $59,063.52
243 $59,063.52 $501.15 $0.00 $333.95 $59,898.62
244 $59,898.62 $501.15 $0.00 $338.68 $60,738.45
245 $60,738.45 $501.15 $0.00 $343.42 $61,583.02
246 $61,583.02 $501.15 $0.00 $348.20 $62,432.37
247 $62,432.37 $501.15 $0.00 $353.00 $63,286.52
248 $63,286.52 $501.15 $0.00 $357.83 $64,145.50
249 $64,145.50 $501.15 $0.00 $362.69 $65,009.34
250 $65,009.34 $501.15 $0.00 $367.57 $65,878.06
251 $65,878.06 $501.15 $0.00 $372.48 $66,751.69
252 $66,751.69 $501.15 $0.00 $377.42 $67,630.26
253 $67,630.26 $0.00 $68,016.49 $382.39 ($3.84)