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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$119,941
Monthly savings required$949

How much will it cost to send your child to Texas Wesleyan University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $479,764.12 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $949.43 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$46,252.00
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 $949.43 $0.00 $0.00 $949.43
2 $949.43 $949.43 $0.00 $5.37 $1,904.23
3 $1,904.23 $949.43 $0.00 $10.77 $2,864.43
4 $2,864.43 $949.43 $0.00 $16.20 $3,830.06
5 $3,830.06 $949.43 $0.00 $21.66 $4,801.15
6 $4,801.15 $949.43 $0.00 $27.15 $5,777.73
7 $5,777.73 $949.43 $0.00 $32.67 $6,759.83
8 $6,759.83 $949.43 $0.00 $38.22 $7,747.48
9 $7,747.48 $949.43 $0.00 $43.81 $8,740.72
10 $8,740.72 $949.43 $0.00 $49.42 $9,739.57
11 $9,739.57 $949.43 $0.00 $55.07 $10,744.07
12 $10,744.07 $949.43 $0.00 $60.75 $11,754.25
13 $11,754.25 $949.43 $0.00 $66.46 $12,770.14
14 $12,770.14 $949.43 $0.00 $72.20 $13,791.77
15 $13,791.77 $949.43 $0.00 $77.98 $14,819.18
16 $14,819.18 $949.43 $0.00 $83.79 $15,852.40
17 $15,852.40 $949.43 $0.00 $89.63 $16,891.46
18 $16,891.46 $949.43 $0.00 $95.51 $17,936.40
19 $17,936.40 $949.43 $0.00 $101.42 $18,987.25
20 $18,987.25 $949.43 $0.00 $107.36 $20,044.04
21 $20,044.04 $949.43 $0.00 $113.33 $21,106.80
22 $21,106.80 $949.43 $0.00 $119.34 $22,175.57
23 $22,175.57 $949.43 $0.00 $125.38 $23,250.38
24 $23,250.38 $949.43 $0.00 $131.46 $24,331.27
25 $24,331.27 $949.43 $0.00 $137.57 $25,418.27
26 $25,418.27 $949.43 $0.00 $143.72 $26,511.42
27 $26,511.42 $949.43 $0.00 $149.90 $27,610.75
28 $27,610.75 $949.43 $0.00 $156.12 $28,716.30
29 $28,716.30 $949.43 $0.00 $162.37 $29,828.10
30 $29,828.10 $949.43 $0.00 $168.65 $30,946.18
31 $30,946.18 $949.43 $0.00 $174.97 $32,070.58
32 $32,070.58 $949.43 $0.00 $181.33 $33,201.34
33 $33,201.34 $949.43 $0.00 $187.73 $34,338.50
34 $34,338.50 $949.43 $0.00 $194.15 $35,482.08
35 $35,482.08 $949.43 $0.00 $200.62 $36,632.13
36 $36,632.13 $949.43 $0.00 $207.12 $37,788.68
37 $37,788.68 $949.43 $0.00 $213.66 $38,951.77
38 $38,951.77 $949.43 $0.00 $220.24 $40,121.44
39 $40,121.44 $949.43 $0.00 $226.85 $41,297.72
40 $41,297.72 $949.43 $0.00 $233.50 $42,480.65
41 $42,480.65 $949.43 $0.00 $240.19 $43,670.27
42 $43,670.27 $949.43 $0.00 $246.92 $44,866.62
43 $44,866.62 $949.43 $0.00 $253.68 $46,069.73
44 $46,069.73 $949.43 $0.00 $260.48 $47,279.64
45 $47,279.64 $949.43 $0.00 $267.33 $48,496.40
46 $48,496.40 $949.43 $0.00 $274.21 $49,720.04
47 $49,720.04 $949.43 $0.00 $281.12 $50,950.59
48 $50,950.59 $949.43 $0.00 $288.08 $52,188.10
49 $52,188.10 $949.43 $0.00 $295.08 $53,432.61
50 $53,432.61 $949.43 $0.00 $302.12 $54,684.16
51 $54,684.16 $949.43 $0.00 $309.19 $55,942.78
52 $55,942.78 $949.43 $0.00 $316.31 $57,208.52
53 $57,208.52 $949.43 $0.00 $323.47 $58,481.42
54 $58,481.42 $949.43 $0.00 $330.66 $59,761.51
55 $59,761.51 $949.43 $0.00 $337.90 $61,048.84
56 $61,048.84 $949.43 $0.00 $345.18 $62,343.45
57 $62,343.45 $949.43 $0.00 $352.50 $63,645.38
58 $63,645.38 $949.43 $0.00 $359.86 $64,954.67
59 $64,954.67 $949.43 $0.00 $367.26 $66,271.36
60 $66,271.36 $949.43 $0.00 $374.71 $67,595.50
61 $67,595.50 $949.43 $0.00 $382.19 $68,927.12
62 $68,927.12 $949.43 $0.00 $389.72 $70,266.27
63 $70,266.27 $949.43 $0.00 $397.30 $71,613.00
64 $71,613.00 $949.43 $0.00 $404.91 $72,967.34
65 $72,967.34 $949.43 $0.00 $412.57 $74,329.34
66 $74,329.34 $949.43 $0.00 $420.27 $75,699.04
67 $75,699.04 $949.43 $0.00 $428.01 $77,076.48
68 $77,076.48 $949.43 $0.00 $435.80 $78,461.71
69 $78,461.71 $949.43 $0.00 $443.63 $79,854.77
70 $79,854.77 $949.43 $0.00 $451.51 $81,255.71
71 $81,255.71 $949.43 $0.00 $459.43 $82,664.57
72 $82,664.57 $949.43 $0.00 $467.40 $84,081.40
73 $84,081.40 $949.43 $0.00 $475.41 $85,506.24
74 $85,506.24 $949.43 $0.00 $483.46 $86,939.13
75 $86,939.13 $949.43 $0.00 $491.57 $88,380.13
76 $88,380.13 $949.43 $0.00 $499.71 $89,829.27
77 $89,829.27 $949.43 $0.00 $507.91 $91,286.61
78 $91,286.61 $949.43 $0.00 $516.15 $92,752.19
79 $92,752.19 $949.43 $0.00 $524.43 $94,226.05
80 $94,226.05 $949.43 $0.00 $532.77 $95,708.25
81 $95,708.25 $949.43 $0.00 $541.15 $97,198.83
82 $97,198.83 $949.43 $0.00 $549.58 $98,697.84
83 $98,697.84 $949.43 $0.00 $558.05 $100,205.32
84 $100,205.32 $949.43 $0.00 $566.58 $101,721.33
85 $101,721.33 $949.43 $0.00 $575.15 $103,245.91
86 $103,245.91 $949.43 $0.00 $583.77 $104,779.11
87 $104,779.11 $949.43 $0.00 $592.44 $106,320.98
88 $106,320.98 $949.43 $0.00 $601.15 $107,871.56
89 $107,871.56 $949.43 $0.00 $609.92 $109,430.91
90 $109,430.91 $949.43 $0.00 $618.74 $110,999.08
91 $110,999.08 $949.43 $0.00 $627.60 $112,576.11
92 $112,576.11 $949.43 $0.00 $636.52 $114,162.06
93 $114,162.06 $949.43 $0.00 $645.49 $115,756.98
94 $115,756.98 $949.43 $0.00 $654.51 $117,360.92
95 $117,360.92 $949.43 $0.00 $663.58 $118,973.93
96 $118,973.93 $949.43 $0.00 $672.70 $120,596.06
97 $120,596.06 $949.43 $0.00 $681.87 $122,227.36
98 $122,227.36 $949.43 $0.00 $691.09 $123,867.88
99 $123,867.88 $949.43 $0.00 $700.37 $125,517.68
100 $125,517.68 $949.43 $0.00 $709.70 $127,176.81
101 $127,176.81 $949.43 $0.00 $719.08 $128,845.32
102 $128,845.32 $949.43 $0.00 $728.51 $130,523.26
103 $130,523.26 $949.43 $0.00 $738.00 $132,210.69
104 $132,210.69 $949.43 $0.00 $747.54 $133,907.66
105 $133,907.66 $949.43 $0.00 $757.13 $135,614.22
106 $135,614.22 $949.43 $0.00 $766.78 $137,330.43
107 $137,330.43 $949.43 $0.00 $776.49 $139,056.35
108 $139,056.35 $949.43 $0.00 $786.24 $140,792.02
109 $140,792.02 $949.43 $0.00 $796.06 $142,537.51
110 $142,537.51 $949.43 $0.00 $805.93 $144,292.87
111 $144,292.87 $949.43 $0.00 $815.85 $146,058.15
112 $146,058.15 $949.43 $0.00 $825.83 $147,833.41
113 $147,833.41 $949.43 $0.00 $835.87 $149,618.71
114 $149,618.71 $949.43 $0.00 $845.97 $151,414.11
115 $151,414.11 $949.43 $0.00 $856.12 $153,219.66
116 $153,219.66 $949.43 $0.00 $866.33 $155,035.42
117 $155,035.42 $949.43 $0.00 $876.59 $156,861.44
118 $156,861.44 $949.43 $0.00 $886.92 $158,697.79
119 $158,697.79 $949.43 $0.00 $897.30 $160,544.52
120 $160,544.52 $949.43 $0.00 $907.74 $162,401.69
121 $162,401.69 $949.43 $0.00 $918.24 $164,269.36
122 $164,269.36 $949.43 $0.00 $928.80 $166,147.59
123 $166,147.59 $949.43 $0.00 $939.42 $168,036.44
124 $168,036.44 $949.43 $0.00 $950.10 $169,935.97
125 $169,935.97 $949.43 $0.00 $960.84 $171,846.24
126 $171,846.24 $949.43 $0.00 $971.64 $173,767.31
127 $173,767.31 $949.43 $0.00 $982.51 $175,699.25
128 $175,699.25 $949.43 $0.00 $993.43 $177,642.11
129 $177,642.11 $949.43 $0.00 $1,004.41 $179,595.95
130 $179,595.95 $949.43 $0.00 $1,015.46 $181,560.84
131 $181,560.84 $949.43 $0.00 $1,026.57 $183,536.84
132 $183,536.84 $949.43 $0.00 $1,037.74 $185,524.01
133 $185,524.01 $949.43 $0.00 $1,048.98 $187,522.42
134 $187,522.42 $949.43 $0.00 $1,060.28 $189,532.13
135 $189,532.13 $949.43 $0.00 $1,071.64 $191,553.20
136 $191,553.20 $949.43 $0.00 $1,083.07 $193,585.70
137 $193,585.70 $949.43 $0.00 $1,094.56 $195,629.69
138 $195,629.69 $949.43 $0.00 $1,106.12 $197,685.24
139 $197,685.24 $949.43 $0.00 $1,117.74 $199,752.41
140 $199,752.41 $949.43 $0.00 $1,129.43 $201,831.27
141 $201,831.27 $949.43 $0.00 $1,141.18 $203,921.88
142 $203,921.88 $949.43 $0.00 $1,153.00 $206,024.31
143 $206,024.31 $949.43 $0.00 $1,164.89 $208,138.63
144 $208,138.63 $949.43 $0.00 $1,176.85 $210,264.91
145 $210,264.91 $949.43 $0.00 $1,188.87 $212,403.21
146 $212,403.21 $949.43 $0.00 $1,200.96 $214,553.60
147 $214,553.60 $949.43 $0.00 $1,213.12 $216,716.15
148 $216,716.15 $949.43 $0.00 $1,225.34 $218,890.92
149 $218,890.92 $949.43 $0.00 $1,237.64 $221,077.99
150 $221,077.99 $949.43 $0.00 $1,250.01 $223,277.43
151 $223,277.43 $949.43 $0.00 $1,262.44 $225,489.30
152 $225,489.30 $949.43 $0.00 $1,274.95 $227,713.68
153 $227,713.68 $949.43 $0.00 $1,287.53 $229,950.64
154 $229,950.64 $949.43 $0.00 $1,300.17 $232,200.24
155 $232,200.24 $949.43 $0.00 $1,312.89 $234,462.56
156 $234,462.56 $949.43 $0.00 $1,325.69 $236,737.68
157 $236,737.68 $949.43 $0.00 $1,338.55 $239,025.66
158 $239,025.66 $949.43 $0.00 $1,351.49 $241,326.58
159 $241,326.58 $949.43 $0.00 $1,364.50 $243,640.51
160 $243,640.51 $949.43 $0.00 $1,377.58 $245,967.52
161 $245,967.52 $949.43 $0.00 $1,390.74 $248,307.69
162 $248,307.69 $949.43 $0.00 $1,403.97 $250,661.09
163 $250,661.09 $949.43 $0.00 $1,417.27 $253,027.79
164 $253,027.79 $949.43 $0.00 $1,430.66 $255,407.88
165 $255,407.88 $949.43 $0.00 $1,444.11 $257,801.42
166 $257,801.42 $949.43 $0.00 $1,457.65 $260,208.50
167 $260,208.50 $949.43 $0.00 $1,471.26 $262,629.19
168 $262,629.19 $949.43 $0.00 $1,484.94 $265,063.56
169 $265,063.56 $949.43 $0.00 $1,498.71 $267,511.70
170 $267,511.70 $949.43 $0.00 $1,512.55 $269,973.68
171 $269,973.68 $949.43 $0.00 $1,526.47 $272,449.58
172 $272,449.58 $949.43 $0.00 $1,540.47 $274,939.48
173 $274,939.48 $949.43 $0.00 $1,554.55 $277,443.46
174 $277,443.46 $949.43 $0.00 $1,568.71 $279,961.60
175 $279,961.60 $949.43 $0.00 $1,582.94 $282,493.97
176 $282,493.97 $949.43 $0.00 $1,597.26 $285,040.66
177 $285,040.66 $949.43 $0.00 $1,611.66 $287,601.75
178 $287,601.75 $949.43 $0.00 $1,626.14 $290,177.32
179 $290,177.32 $949.43 $0.00 $1,640.70 $292,767.45
180 $292,767.45 $949.43 $0.00 $1,655.35 $295,372.23
181 $295,372.23 $949.43 $0.00 $1,670.08 $297,991.74
182 $297,991.74 $949.43 $0.00 $1,684.89 $300,626.06
183 $300,626.06 $949.43 $0.00 $1,699.78 $303,275.27
184 $303,275.27 $949.43 $0.00 $1,714.76 $305,939.46
185 $305,939.46 $949.43 $0.00 $1,729.83 $308,618.72
186 $308,618.72 $949.43 $0.00 $1,744.98 $311,313.13
187 $311,313.13 $949.43 $0.00 $1,760.21 $314,022.77
188 $314,022.77 $949.43 $0.00 $1,775.53 $316,747.73
189 $316,747.73 $949.43 $0.00 $1,790.94 $319,488.10
190 $319,488.10 $949.43 $0.00 $1,806.43 $322,243.96
191 $322,243.96 $949.43 $0.00 $1,822.01 $325,015.40
192 $325,015.40 $949.43 $0.00 $1,837.68 $327,802.51
193 $327,802.51 $949.43 $0.00 $1,853.44 $330,605.38
194 $330,605.38 $949.43 $0.00 $1,869.29 $333,424.10
195 $333,424.10 $949.43 $0.00 $1,885.23 $336,258.76
196 $336,258.76 $949.43 $0.00 $1,901.26 $339,109.45
197 $339,109.45 $949.43 $0.00 $1,917.37 $341,976.25
198 $341,976.25 $949.43 $0.00 $1,933.58 $344,859.26
199 $344,859.26 $949.43 $0.00 $1,949.88 $347,758.57
200 $347,758.57 $949.43 $0.00 $1,966.28 $350,674.28
201 $350,674.28 $949.43 $0.00 $1,982.76 $353,606.47
202 $353,606.47 $949.43 $0.00 $1,999.34 $356,555.24
203 $356,555.24 $949.43 $0.00 $2,016.02 $359,520.69
204 $359,520.69 $949.43 $0.00 $2,032.78 $362,502.90
205 $362,502.90 $949.43 $0.00 $2,049.64 $365,501.97
206 $365,501.97 $949.43 $0.00 $2,066.60 $368,518.00
207 $368,518.00 $949.43 $0.00 $2,083.65 $371,551.08
208 $371,551.08 $949.43 $0.00 $2,100.80 $374,601.31
209 $374,601.31 $949.43 $0.00 $2,118.05 $377,668.79
210 $377,668.79 $949.43 $0.00 $2,135.39 $380,753.61
211 $380,753.61 $949.43 $0.00 $2,152.84 $383,855.88
212 $383,855.88 $949.43 $0.00 $2,170.38 $386,975.69
213 $386,975.69 $949.43 $0.00 $2,188.02 $390,113.14
214 $390,113.14 $949.43 $0.00 $2,205.76 $393,268.33
215 $393,268.33 $949.43 $0.00 $2,223.60 $396,441.36
216 $396,441.36 $949.43 $0.00 $2,241.54 $399,632.33
217 $399,632.33 $949.43 $111,310.95 $2,259.58 $291,530.39
218 $291,530.39 $949.43 $0.00 $1,648.36 $294,128.18
219 $294,128.18 $949.43 $0.00 $1,663.04 $296,740.65
220 $296,740.65 $949.43 $0.00 $1,677.81 $299,367.89
221 $299,367.89 $949.43 $0.00 $1,692.67 $302,009.99
222 $302,009.99 $949.43 $0.00 $1,707.61 $304,667.03
223 $304,667.03 $949.43 $0.00 $1,722.63 $307,339.09
224 $307,339.09 $949.43 $0.00 $1,737.74 $310,026.26
225 $310,026.26 $949.43 $0.00 $1,752.93 $312,728.62
226 $312,728.62 $949.43 $0.00 $1,768.21 $315,446.26
227 $315,446.26 $949.43 $0.00 $1,783.58 $318,179.27
228 $318,179.27 $949.43 $0.00 $1,799.03 $320,927.73
229 $320,927.73 $949.43 $116,876.50 $1,814.57 $206,815.23
230 $206,815.23 $949.43 $0.00 $1,169.36 $208,934.02
231 $208,934.02 $949.43 $0.00 $1,181.34 $211,064.79
232 $211,064.79 $949.43 $0.00 $1,193.39 $213,207.61
233 $213,207.61 $949.43 $0.00 $1,205.51 $215,362.55
234 $215,362.55 $949.43 $0.00 $1,217.69 $217,529.67
235 $217,529.67 $949.43 $0.00 $1,229.94 $219,709.04
236 $219,709.04 $949.43 $0.00 $1,242.27 $221,900.74
237 $221,900.74 $949.43 $0.00 $1,254.66 $224,104.83
238 $224,104.83 $949.43 $0.00 $1,267.12 $226,321.38
239 $226,321.38 $949.43 $0.00 $1,279.65 $228,550.46
240 $228,550.46 $949.43 $0.00 $1,292.26 $230,792.15
241 $230,792.15 $949.43 $122,720.33 $1,304.93 $110,326.18
242 $110,326.18 $949.43 $0.00 $623.80 $111,899.41
243 $111,899.41 $949.43 $0.00 $632.70 $113,481.54
244 $113,481.54 $949.43 $0.00 $641.64 $115,072.61
245 $115,072.61 $949.43 $0.00 $650.64 $116,672.68
246 $116,672.68 $949.43 $0.00 $659.68 $118,281.79
247 $118,281.79 $949.43 $0.00 $668.78 $119,900.00
248 $119,900.00 $949.43 $0.00 $677.93 $121,527.36
249 $121,527.36 $949.43 $0.00 $687.13 $123,163.92
250 $123,163.92 $949.43 $0.00 $696.39 $124,809.74
251 $124,809.74 $949.43 $0.00 $705.69 $126,464.86
252 $126,464.86 $949.43 $0.00 $715.05 $128,129.34
253 $128,129.34 $0.00 $128,856.34 $724.46 ($2.54)