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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$80,550
Monthly savings required$638

How much will it cost to send your child to Wayland Baptist University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $322,200.84 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $637.61 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$31,062.00
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 $637.61 $0.00 $0.00 $637.61
2 $637.61 $637.61 $0.00 $3.61 $1,278.83
3 $1,278.83 $637.61 $0.00 $7.23 $1,923.67
4 $1,923.67 $637.61 $0.00 $10.88 $2,572.16
5 $2,572.16 $637.61 $0.00 $14.54 $3,224.31
6 $3,224.31 $637.61 $0.00 $18.23 $3,880.15
7 $3,880.15 $637.61 $0.00 $21.94 $4,539.70
8 $4,539.70 $637.61 $0.00 $25.67 $5,202.98
9 $5,202.98 $637.61 $0.00 $29.42 $5,870.01
10 $5,870.01 $637.61 $0.00 $33.19 $6,540.81
11 $6,540.81 $637.61 $0.00 $36.98 $7,215.40
12 $7,215.40 $637.61 $0.00 $40.80 $7,893.81
13 $7,893.81 $637.61 $0.00 $44.63 $8,576.05
14 $8,576.05 $637.61 $0.00 $48.49 $9,262.15
15 $9,262.15 $637.61 $0.00 $52.37 $9,952.13
16 $9,952.13 $637.61 $0.00 $56.27 $10,646.01
17 $10,646.01 $637.61 $0.00 $60.19 $11,343.81
18 $11,343.81 $637.61 $0.00 $64.14 $12,045.56
19 $12,045.56 $637.61 $0.00 $68.11 $12,751.28
20 $12,751.28 $637.61 $0.00 $72.10 $13,460.99
21 $13,460.99 $637.61 $0.00 $76.11 $14,174.71
22 $14,174.71 $637.61 $0.00 $80.15 $14,892.47
23 $14,892.47 $637.61 $0.00 $84.20 $15,614.28
24 $15,614.28 $637.61 $0.00 $88.29 $16,340.18
25 $16,340.18 $637.61 $0.00 $92.39 $17,070.18
26 $17,070.18 $637.61 $0.00 $96.52 $17,804.31
27 $17,804.31 $637.61 $0.00 $100.67 $18,542.59
28 $18,542.59 $637.61 $0.00 $104.84 $19,285.04
29 $19,285.04 $637.61 $0.00 $109.04 $20,031.69
30 $20,031.69 $637.61 $0.00 $113.26 $20,782.56
31 $20,782.56 $637.61 $0.00 $117.51 $21,537.68
32 $21,537.68 $637.61 $0.00 $121.78 $22,297.07
33 $22,297.07 $637.61 $0.00 $126.07 $23,060.75
34 $23,060.75 $637.61 $0.00 $130.39 $23,828.75
35 $23,828.75 $637.61 $0.00 $134.73 $24,601.09
36 $24,601.09 $637.61 $0.00 $139.10 $25,377.80
37 $25,377.80 $637.61 $0.00 $143.49 $26,158.90
38 $26,158.90 $637.61 $0.00 $147.91 $26,944.42
39 $26,944.42 $637.61 $0.00 $152.35 $27,734.38
40 $27,734.38 $637.61 $0.00 $156.81 $28,528.80
41 $28,528.80 $637.61 $0.00 $161.31 $29,327.72
42 $29,327.72 $637.61 $0.00 $165.82 $30,131.15
43 $30,131.15 $637.61 $0.00 $170.37 $30,939.13
44 $30,939.13 $637.61 $0.00 $174.93 $31,751.67
45 $31,751.67 $637.61 $0.00 $179.53 $32,568.81
46 $32,568.81 $637.61 $0.00 $184.15 $33,390.57
47 $33,390.57 $637.61 $0.00 $188.80 $34,216.98
48 $34,216.98 $637.61 $0.00 $193.47 $35,048.06
49 $35,048.06 $637.61 $0.00 $198.17 $35,883.84
50 $35,883.84 $637.61 $0.00 $202.89 $36,724.34
51 $36,724.34 $637.61 $0.00 $207.64 $37,569.59
52 $37,569.59 $637.61 $0.00 $212.42 $38,419.62
53 $38,419.62 $637.61 $0.00 $217.23 $39,274.46
54 $39,274.46 $637.61 $0.00 $222.06 $40,134.13
55 $40,134.13 $637.61 $0.00 $226.92 $40,998.66
56 $40,998.66 $637.61 $0.00 $231.81 $41,868.08
57 $41,868.08 $637.61 $0.00 $236.73 $42,742.42
58 $42,742.42 $637.61 $0.00 $241.67 $43,621.70
59 $43,621.70 $637.61 $0.00 $246.64 $44,505.95
60 $44,505.95 $637.61 $0.00 $251.64 $45,395.20
61 $45,395.20 $637.61 $0.00 $256.67 $46,289.48
62 $46,289.48 $637.61 $0.00 $261.73 $47,188.82
63 $47,188.82 $637.61 $0.00 $266.81 $48,093.24
64 $48,093.24 $637.61 $0.00 $271.93 $49,002.78
65 $49,002.78 $637.61 $0.00 $277.07 $49,917.46
66 $49,917.46 $637.61 $0.00 $282.24 $50,837.31
67 $50,837.31 $637.61 $0.00 $287.44 $51,762.36
68 $51,762.36 $637.61 $0.00 $292.67 $52,692.64
69 $52,692.64 $637.61 $0.00 $297.93 $53,628.18
70 $53,628.18 $637.61 $0.00 $303.22 $54,569.01
71 $54,569.01 $637.61 $0.00 $308.54 $55,515.16
72 $55,515.16 $637.61 $0.00 $313.89 $56,466.66
73 $56,466.66 $637.61 $0.00 $319.27 $57,423.54
74 $57,423.54 $637.61 $0.00 $324.68 $58,385.83
75 $58,385.83 $637.61 $0.00 $330.12 $59,353.56
76 $59,353.56 $637.61 $0.00 $335.59 $60,326.76
77 $60,326.76 $637.61 $0.00 $341.10 $61,305.47
78 $61,305.47 $637.61 $0.00 $346.63 $62,289.71
79 $62,289.71 $637.61 $0.00 $352.20 $63,279.52
80 $63,279.52 $637.61 $0.00 $357.79 $64,274.92
81 $64,274.92 $637.61 $0.00 $363.42 $65,275.95
82 $65,275.95 $637.61 $0.00 $369.08 $66,282.64
83 $66,282.64 $637.61 $0.00 $374.77 $67,295.02
84 $67,295.02 $637.61 $0.00 $380.50 $68,313.13
85 $68,313.13 $637.61 $0.00 $386.25 $69,336.99
86 $69,336.99 $637.61 $0.00 $392.04 $70,366.64
87 $70,366.64 $637.61 $0.00 $397.86 $71,402.11
88 $71,402.11 $637.61 $0.00 $403.72 $72,443.44
89 $72,443.44 $637.61 $0.00 $409.61 $73,490.66
90 $73,490.66 $637.61 $0.00 $415.53 $74,543.80
91 $74,543.80 $637.61 $0.00 $421.48 $75,602.89
92 $75,602.89 $637.61 $0.00 $427.47 $76,667.97
93 $76,667.97 $637.61 $0.00 $433.49 $77,739.07
94 $77,739.07 $637.61 $0.00 $439.55 $78,816.23
95 $78,816.23 $637.61 $0.00 $445.64 $79,899.48
96 $79,899.48 $637.61 $0.00 $451.76 $80,988.85
97 $80,988.85 $637.61 $0.00 $457.92 $82,084.38
98 $82,084.38 $637.61 $0.00 $464.12 $83,186.11
99 $83,186.11 $637.61 $0.00 $470.35 $84,294.07
100 $84,294.07 $637.61 $0.00 $476.61 $85,408.29
101 $85,408.29 $637.61 $0.00 $482.91 $86,528.81
102 $86,528.81 $637.61 $0.00 $489.25 $87,655.67
103 $87,655.67 $637.61 $0.00 $495.62 $88,788.90
104 $88,788.90 $637.61 $0.00 $502.03 $89,928.54
105 $89,928.54 $637.61 $0.00 $508.47 $91,074.62
106 $91,074.62 $637.61 $0.00 $514.95 $92,227.18
107 $92,227.18 $637.61 $0.00 $521.47 $93,386.26
108 $93,386.26 $637.61 $0.00 $528.02 $94,551.89
109 $94,551.89 $637.61 $0.00 $534.61 $95,724.11
110 $95,724.11 $637.61 $0.00 $541.24 $96,902.96
111 $96,902.96 $637.61 $0.00 $547.90 $98,088.47
112 $98,088.47 $637.61 $0.00 $554.61 $99,280.69
113 $99,280.69 $637.61 $0.00 $561.35 $100,479.65
114 $100,479.65 $637.61 $0.00 $568.13 $101,685.39
115 $101,685.39 $637.61 $0.00 $574.94 $102,897.94
116 $102,897.94 $637.61 $0.00 $581.80 $104,117.35
117 $104,117.35 $637.61 $0.00 $588.69 $105,343.65
118 $105,343.65 $637.61 $0.00 $595.63 $106,576.89
119 $106,576.89 $637.61 $0.00 $602.60 $107,817.10
120 $107,817.10 $637.61 $0.00 $609.61 $109,064.32
121 $109,064.32 $637.61 $0.00 $616.67 $110,318.60
122 $110,318.60 $637.61 $0.00 $623.76 $111,579.97
123 $111,579.97 $637.61 $0.00 $630.89 $112,848.47
124 $112,848.47 $637.61 $0.00 $638.06 $114,124.14
125 $114,124.14 $637.61 $0.00 $645.27 $115,407.02
126 $115,407.02 $637.61 $0.00 $652.53 $116,697.16
127 $116,697.16 $637.61 $0.00 $659.82 $117,994.59
128 $117,994.59 $637.61 $0.00 $667.16 $119,299.36
129 $119,299.36 $637.61 $0.00 $674.54 $120,611.51
130 $120,611.51 $637.61 $0.00 $681.96 $121,931.08
131 $121,931.08 $637.61 $0.00 $689.42 $123,258.11
132 $123,258.11 $637.61 $0.00 $696.92 $124,592.64
133 $124,592.64 $637.61 $0.00 $704.46 $125,934.71
134 $125,934.71 $637.61 $0.00 $712.05 $127,284.37
135 $127,284.37 $637.61 $0.00 $719.68 $128,641.66
136 $128,641.66 $637.61 $0.00 $727.36 $130,006.63
137 $130,006.63 $637.61 $0.00 $735.08 $131,379.32
138 $131,379.32 $637.61 $0.00 $742.84 $132,759.77
139 $132,759.77 $637.61 $0.00 $750.64 $134,148.02
140 $134,148.02 $637.61 $0.00 $758.49 $135,544.12
141 $135,544.12 $637.61 $0.00 $766.39 $136,948.12
142 $136,948.12 $637.61 $0.00 $774.32 $138,360.05
143 $138,360.05 $637.61 $0.00 $782.31 $139,779.97
144 $139,779.97 $637.61 $0.00 $790.34 $141,207.92
145 $141,207.92 $637.61 $0.00 $798.41 $142,643.94
146 $142,643.94 $637.61 $0.00 $806.53 $144,088.08
147 $144,088.08 $637.61 $0.00 $814.69 $145,540.38
148 $145,540.38 $637.61 $0.00 $822.91 $147,000.90
149 $147,000.90 $637.61 $0.00 $831.16 $148,469.67
150 $148,469.67 $637.61 $0.00 $839.47 $149,946.75
151 $149,946.75 $637.61 $0.00 $847.82 $151,432.18
152 $151,432.18 $637.61 $0.00 $856.22 $152,926.01
153 $152,926.01 $637.61 $0.00 $864.67 $154,428.29
154 $154,428.29 $637.61 $0.00 $873.16 $155,939.06
155 $155,939.06 $637.61 $0.00 $881.70 $157,458.37
156 $157,458.37 $637.61 $0.00 $890.29 $158,986.27
157 $158,986.27 $637.61 $0.00 $898.93 $160,522.81
158 $160,522.81 $637.61 $0.00 $907.62 $162,068.04
159 $162,068.04 $637.61 $0.00 $916.36 $163,622.01
160 $163,622.01 $637.61 $0.00 $925.14 $165,184.76
161 $165,184.76 $637.61 $0.00 $933.98 $166,756.35
162 $166,756.35 $637.61 $0.00 $942.86 $168,336.82
163 $168,336.82 $637.61 $0.00 $951.80 $169,926.23
164 $169,926.23 $637.61 $0.00 $960.79 $171,524.63
165 $171,524.63 $637.61 $0.00 $969.83 $173,132.07
166 $173,132.07 $637.61 $0.00 $978.91 $174,748.59
167 $174,748.59 $637.61 $0.00 $988.05 $176,374.25
168 $176,374.25 $637.61 $0.00 $997.25 $178,009.11
169 $178,009.11 $637.61 $0.00 $1,006.49 $179,653.21
170 $179,653.21 $637.61 $0.00 $1,015.79 $181,306.61
171 $181,306.61 $637.61 $0.00 $1,025.13 $182,969.35
172 $182,969.35 $637.61 $0.00 $1,034.54 $184,641.50
173 $184,641.50 $637.61 $0.00 $1,043.99 $186,323.10
174 $186,323.10 $637.61 $0.00 $1,053.50 $188,014.21
175 $188,014.21 $637.61 $0.00 $1,063.06 $189,714.88
176 $189,714.88 $637.61 $0.00 $1,072.68 $191,425.17
177 $191,425.17 $637.61 $0.00 $1,082.35 $193,145.13
178 $193,145.13 $637.61 $0.00 $1,092.07 $194,874.81
179 $194,874.81 $637.61 $0.00 $1,101.85 $196,614.27
180 $196,614.27 $637.61 $0.00 $1,111.69 $198,363.57
181 $198,363.57 $637.61 $0.00 $1,121.58 $200,122.76
182 $200,122.76 $637.61 $0.00 $1,131.52 $201,891.89
183 $201,891.89 $637.61 $0.00 $1,141.53 $203,671.03
184 $203,671.03 $637.61 $0.00 $1,151.59 $205,460.23
185 $205,460.23 $637.61 $0.00 $1,161.70 $207,259.54
186 $207,259.54 $637.61 $0.00 $1,171.88 $209,069.03
187 $209,069.03 $637.61 $0.00 $1,182.11 $210,888.75
188 $210,888.75 $637.61 $0.00 $1,192.40 $212,718.76
189 $212,718.76 $637.61 $0.00 $1,202.74 $214,559.11
190 $214,559.11 $637.61 $0.00 $1,213.15 $216,409.87
191 $216,409.87 $637.61 $0.00 $1,223.61 $218,271.09
192 $218,271.09 $637.61 $0.00 $1,234.14 $220,142.84
193 $220,142.84 $637.61 $0.00 $1,244.72 $222,025.17
194 $222,025.17 $637.61 $0.00 $1,255.36 $223,918.14
195 $223,918.14 $637.61 $0.00 $1,266.07 $225,821.82
196 $225,821.82 $637.61 $0.00 $1,276.83 $227,736.26
197 $227,736.26 $637.61 $0.00 $1,287.65 $229,661.52
198 $229,661.52 $637.61 $0.00 $1,298.54 $231,597.67
199 $231,597.67 $637.61 $0.00 $1,309.49 $233,544.77
200 $233,544.77 $637.61 $0.00 $1,320.50 $235,502.88
201 $235,502.88 $637.61 $0.00 $1,331.57 $237,472.06
202 $237,472.06 $637.61 $0.00 $1,342.70 $239,452.37
203 $239,452.37 $637.61 $0.00 $1,353.90 $241,443.88
204 $241,443.88 $637.61 $0.00 $1,365.16 $243,446.65
205 $243,446.65 $637.61 $0.00 $1,376.48 $245,460.74
206 $245,460.74 $637.61 $0.00 $1,387.87 $247,486.22
207 $247,486.22 $637.61 $0.00 $1,399.32 $249,523.15
208 $249,523.15 $637.61 $0.00 $1,410.84 $251,571.60
209 $251,571.60 $637.61 $0.00 $1,422.42 $253,631.63
210 $253,631.63 $637.61 $0.00 $1,434.07 $255,703.31
211 $255,703.31 $637.61 $0.00 $1,445.78 $257,786.70
212 $257,786.70 $637.61 $0.00 $1,457.56 $259,881.87
213 $259,881.87 $637.61 $0.00 $1,469.41 $261,988.89
214 $261,988.89 $637.61 $0.00 $1,481.32 $264,107.82
215 $264,107.82 $637.61 $0.00 $1,493.30 $266,238.73
216 $266,238.73 $637.61 $0.00 $1,505.35 $268,381.69
217 $268,381.69 $637.61 $74,754.41 $1,517.47 $195,782.36
218 $195,782.36 $637.61 $0.00 $1,106.98 $197,526.95
219 $197,526.95 $637.61 $0.00 $1,116.85 $199,281.41
220 $199,281.41 $637.61 $0.00 $1,126.77 $201,045.79
221 $201,045.79 $637.61 $0.00 $1,136.74 $202,820.14
222 $202,820.14 $637.61 $0.00 $1,146.77 $204,604.52
223 $204,604.52 $637.61 $0.00 $1,156.86 $206,398.99
224 $206,398.99 $637.61 $0.00 $1,167.01 $208,203.61
225 $208,203.61 $637.61 $0.00 $1,177.21 $210,018.43
226 $210,018.43 $637.61 $0.00 $1,187.47 $211,843.51
227 $211,843.51 $637.61 $0.00 $1,197.79 $213,678.91
228 $213,678.91 $637.61 $0.00 $1,208.17 $215,524.69
229 $215,524.69 $637.61 $78,492.13 $1,218.61 $138,888.78
230 $138,888.78 $637.61 $0.00 $785.30 $140,311.69
231 $140,311.69 $637.61 $0.00 $793.34 $141,742.64
232 $141,742.64 $637.61 $0.00 $801.43 $143,181.68
233 $143,181.68 $637.61 $0.00 $809.57 $144,628.86
234 $144,628.86 $637.61 $0.00 $817.75 $146,084.22
235 $146,084.22 $637.61 $0.00 $825.98 $147,547.81
236 $147,547.81 $637.61 $0.00 $834.26 $149,019.68
237 $149,019.68 $637.61 $0.00 $842.58 $150,499.87
238 $150,499.87 $637.61 $0.00 $850.95 $151,988.43
239 $151,988.43 $637.61 $0.00 $859.36 $153,485.40
240 $153,485.40 $637.61 $0.00 $867.83 $154,990.84
241 $154,990.84 $637.61 $82,416.73 $876.34 $74,088.06
242 $74,088.06 $637.61 $0.00 $418.90 $75,144.57
243 $75,144.57 $637.61 $0.00 $424.88 $76,207.06
244 $76,207.06 $637.61 $0.00 $430.89 $77,275.56
245 $77,275.56 $637.61 $0.00 $436.93 $78,350.10
246 $78,350.10 $637.61 $0.00 $443.00 $79,430.71
247 $79,430.71 $637.61 $0.00 $449.11 $80,517.43
248 $80,517.43 $637.61 $0.00 $455.26 $81,610.30
249 $81,610.30 $637.61 $0.00 $461.44 $82,709.35
250 $82,709.35 $637.61 $0.00 $467.65 $83,814.61
251 $83,814.61 $637.61 $0.00 $473.90 $84,926.12
252 $84,926.12 $637.61 $0.00 $480.18 $86,043.91
253 $86,043.91 $0.00 $86,537.57 $486.50 ($7.16)