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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$70,940
Monthly savings required$562

How much will it cost to send your child to James Madison University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $283,759.13 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $561.55 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$27,356.00
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 $561.55 $0.00 $0.00 $561.55
2 $561.55 $561.55 $0.00 $3.18 $1,126.28
3 $1,126.28 $561.55 $0.00 $6.37 $1,694.20
4 $1,694.20 $561.55 $0.00 $9.58 $2,265.33
5 $2,265.33 $561.55 $0.00 $12.81 $2,839.69
6 $2,839.69 $561.55 $0.00 $16.06 $3,417.30
7 $3,417.30 $561.55 $0.00 $19.32 $3,998.17
8 $3,998.17 $561.55 $0.00 $22.61 $4,582.33
9 $4,582.33 $561.55 $0.00 $25.91 $5,169.79
10 $5,169.79 $561.55 $0.00 $29.23 $5,760.57
11 $5,760.57 $561.55 $0.00 $32.57 $6,354.69
12 $6,354.69 $561.55 $0.00 $35.93 $6,952.17
13 $6,952.17 $561.55 $0.00 $39.31 $7,553.03
14 $7,553.03 $561.55 $0.00 $42.71 $8,157.29
15 $8,157.29 $561.55 $0.00 $46.12 $8,764.96
16 $8,764.96 $561.55 $0.00 $49.56 $9,376.07
17 $9,376.07 $561.55 $0.00 $53.01 $9,990.63
18 $9,990.63 $561.55 $0.00 $56.49 $10,608.67
19 $10,608.67 $561.55 $0.00 $59.98 $11,230.20
20 $11,230.20 $561.55 $0.00 $63.50 $11,855.25
21 $11,855.25 $561.55 $0.00 $67.03 $12,483.83
22 $12,483.83 $561.55 $0.00 $70.59 $13,115.97
23 $13,115.97 $561.55 $0.00 $74.16 $13,751.68
24 $13,751.68 $561.55 $0.00 $77.75 $14,390.98
25 $14,390.98 $561.55 $0.00 $81.37 $15,033.90
26 $15,033.90 $561.55 $0.00 $85.00 $15,680.45
27 $15,680.45 $561.55 $0.00 $88.66 $16,330.66
28 $16,330.66 $561.55 $0.00 $92.34 $16,984.55
29 $16,984.55 $561.55 $0.00 $96.03 $17,642.13
30 $17,642.13 $561.55 $0.00 $99.75 $18,303.43
31 $18,303.43 $561.55 $0.00 $103.49 $18,968.47
32 $18,968.47 $561.55 $0.00 $107.25 $19,637.27
33 $19,637.27 $561.55 $0.00 $111.03 $20,309.85
34 $20,309.85 $561.55 $0.00 $114.83 $20,986.23
35 $20,986.23 $561.55 $0.00 $118.66 $21,666.44
36 $21,666.44 $561.55 $0.00 $122.51 $22,350.50
37 $22,350.50 $561.55 $0.00 $126.37 $23,038.42
38 $23,038.42 $561.55 $0.00 $130.26 $23,730.23
39 $23,730.23 $561.55 $0.00 $134.17 $24,425.95
40 $24,425.95 $561.55 $0.00 $138.11 $25,125.61
41 $25,125.61 $561.55 $0.00 $142.06 $25,829.22
42 $25,829.22 $561.55 $0.00 $146.04 $26,536.81
43 $26,536.81 $561.55 $0.00 $150.04 $27,248.40
44 $27,248.40 $561.55 $0.00 $154.07 $27,964.02
45 $27,964.02 $561.55 $0.00 $158.11 $28,683.68
46 $28,683.68 $561.55 $0.00 $162.18 $29,407.41
47 $29,407.41 $561.55 $0.00 $166.27 $30,135.23
48 $30,135.23 $561.55 $0.00 $170.39 $30,867.17
49 $30,867.17 $561.55 $0.00 $174.53 $31,603.25
50 $31,603.25 $561.55 $0.00 $178.69 $32,343.49
51 $32,343.49 $561.55 $0.00 $182.87 $33,087.91
52 $33,087.91 $561.55 $0.00 $187.08 $33,836.54
53 $33,836.54 $561.55 $0.00 $191.32 $34,589.41
54 $34,589.41 $561.55 $0.00 $195.57 $35,346.53
55 $35,346.53 $561.55 $0.00 $199.85 $36,107.93
56 $36,107.93 $561.55 $0.00 $204.16 $36,873.64
57 $36,873.64 $561.55 $0.00 $208.49 $37,643.68
58 $37,643.68 $561.55 $0.00 $212.84 $38,418.07
59 $38,418.07 $561.55 $0.00 $217.22 $39,196.84
60 $39,196.84 $561.55 $0.00 $221.62 $39,980.01
61 $39,980.01 $561.55 $0.00 $226.05 $40,767.61
62 $40,767.61 $561.55 $0.00 $230.51 $41,559.67
63 $41,559.67 $561.55 $0.00 $234.98 $42,356.20
64 $42,356.20 $561.55 $0.00 $239.49 $43,157.24
65 $43,157.24 $561.55 $0.00 $244.02 $43,962.81
66 $43,962.81 $561.55 $0.00 $248.57 $44,772.93
67 $44,772.93 $561.55 $0.00 $253.15 $45,587.63
68 $45,587.63 $561.55 $0.00 $257.76 $46,406.94
69 $46,406.94 $561.55 $0.00 $262.39 $47,230.88
70 $47,230.88 $561.55 $0.00 $267.05 $48,059.48
71 $48,059.48 $561.55 $0.00 $271.74 $48,892.77
72 $48,892.77 $561.55 $0.00 $276.45 $49,730.77
73 $49,730.77 $561.55 $0.00 $281.19 $50,573.51
74 $50,573.51 $561.55 $0.00 $285.95 $51,421.01
75 $51,421.01 $561.55 $0.00 $290.74 $52,273.30
76 $52,273.30 $561.55 $0.00 $295.56 $53,130.41
77 $53,130.41 $561.55 $0.00 $300.41 $53,992.37
78 $53,992.37 $561.55 $0.00 $305.28 $54,859.20
79 $54,859.20 $561.55 $0.00 $310.18 $55,730.93
80 $55,730.93 $561.55 $0.00 $315.11 $56,607.59
81 $56,607.59 $561.55 $0.00 $320.07 $57,489.21
82 $57,489.21 $561.55 $0.00 $325.05 $58,375.81
83 $58,375.81 $561.55 $0.00 $330.07 $59,267.43
84 $59,267.43 $561.55 $0.00 $335.11 $60,164.09
85 $60,164.09 $561.55 $0.00 $340.18 $61,065.82
86 $61,065.82 $561.55 $0.00 $345.28 $61,972.65
87 $61,972.65 $561.55 $0.00 $350.40 $62,884.60
88 $62,884.60 $561.55 $0.00 $355.56 $63,801.71
89 $63,801.71 $561.55 $0.00 $360.74 $64,724.00
90 $64,724.00 $561.55 $0.00 $365.96 $65,651.51
91 $65,651.51 $561.55 $0.00 $371.20 $66,584.26
92 $66,584.26 $561.55 $0.00 $376.48 $67,522.29
93 $67,522.29 $561.55 $0.00 $381.78 $68,465.62
94 $68,465.62 $561.55 $0.00 $387.11 $69,414.28
95 $69,414.28 $561.55 $0.00 $392.48 $70,368.31
96 $70,368.31 $561.55 $0.00 $397.87 $71,327.73
97 $71,327.73 $561.55 $0.00 $403.30 $72,292.58
98 $72,292.58 $561.55 $0.00 $408.75 $73,262.88
99 $73,262.88 $561.55 $0.00 $414.24 $74,238.67
100 $74,238.67 $561.55 $0.00 $419.76 $75,219.98
101 $75,219.98 $561.55 $0.00 $425.30 $76,206.83
102 $76,206.83 $561.55 $0.00 $430.88 $77,199.26
103 $77,199.26 $561.55 $0.00 $436.50 $78,197.31
104 $78,197.31 $561.55 $0.00 $442.14 $79,201.00
105 $79,201.00 $561.55 $0.00 $447.81 $80,210.36
106 $80,210.36 $561.55 $0.00 $453.52 $81,225.43
107 $81,225.43 $561.55 $0.00 $459.26 $82,246.24
108 $82,246.24 $561.55 $0.00 $465.03 $83,272.82
109 $83,272.82 $561.55 $0.00 $470.84 $84,305.21
110 $84,305.21 $561.55 $0.00 $476.67 $85,343.43
111 $85,343.43 $561.55 $0.00 $482.54 $86,387.52
112 $86,387.52 $561.55 $0.00 $488.45 $87,437.52
113 $87,437.52 $561.55 $0.00 $494.38 $88,493.45
114 $88,493.45 $561.55 $0.00 $500.35 $89,555.35
115 $89,555.35 $561.55 $0.00 $506.36 $90,623.26
116 $90,623.26 $561.55 $0.00 $512.40 $91,697.21
117 $91,697.21 $561.55 $0.00 $518.47 $92,777.23
118 $92,777.23 $561.55 $0.00 $524.58 $93,863.36
119 $93,863.36 $561.55 $0.00 $530.72 $94,955.63
120 $94,955.63 $561.55 $0.00 $536.89 $96,054.07
121 $96,054.07 $561.55 $0.00 $543.10 $97,158.72
122 $97,158.72 $561.55 $0.00 $549.35 $98,269.62
123 $98,269.62 $561.55 $0.00 $555.63 $99,386.80
124 $99,386.80 $561.55 $0.00 $561.95 $100,510.30
125 $100,510.30 $561.55 $0.00 $568.30 $101,640.15
126 $101,640.15 $561.55 $0.00 $574.69 $102,776.39
127 $102,776.39 $561.55 $0.00 $581.11 $103,919.05
128 $103,919.05 $561.55 $0.00 $587.57 $105,068.17
129 $105,068.17 $561.55 $0.00 $594.07 $106,223.79
130 $106,223.79 $561.55 $0.00 $600.60 $107,385.94
131 $107,385.94 $561.55 $0.00 $607.18 $108,554.67
132 $108,554.67 $561.55 $0.00 $613.78 $109,730.00
133 $109,730.00 $561.55 $0.00 $620.43 $110,911.98
134 $110,911.98 $561.55 $0.00 $627.11 $112,100.64
135 $112,100.64 $561.55 $0.00 $633.83 $113,296.02
136 $113,296.02 $561.55 $0.00 $640.59 $114,498.16
137 $114,498.16 $561.55 $0.00 $647.39 $115,707.10
138 $115,707.10 $561.55 $0.00 $654.22 $116,922.87
139 $116,922.87 $561.55 $0.00 $661.10 $118,145.52
140 $118,145.52 $561.55 $0.00 $668.01 $119,375.08
141 $119,375.08 $561.55 $0.00 $674.96 $120,611.59
142 $120,611.59 $561.55 $0.00 $681.96 $121,855.10
143 $121,855.10 $561.55 $0.00 $688.99 $123,105.64
144 $123,105.64 $561.55 $0.00 $696.06 $124,363.25
145 $124,363.25 $561.55 $0.00 $703.17 $125,627.97
146 $125,627.97 $561.55 $0.00 $710.32 $126,899.84
147 $126,899.84 $561.55 $0.00 $717.51 $128,178.90
148 $128,178.90 $561.55 $0.00 $724.74 $129,465.19
149 $129,465.19 $561.55 $0.00 $732.02 $130,758.76
150 $130,758.76 $561.55 $0.00 $739.33 $132,059.64
151 $132,059.64 $561.55 $0.00 $746.68 $133,367.87
152 $133,367.87 $561.55 $0.00 $754.08 $134,683.50
153 $134,683.50 $561.55 $0.00 $761.52 $136,006.57
154 $136,006.57 $561.55 $0.00 $769.00 $137,337.12
155 $137,337.12 $561.55 $0.00 $776.52 $138,675.19
156 $138,675.19 $561.55 $0.00 $784.09 $140,020.83
157 $140,020.83 $561.55 $0.00 $791.70 $141,374.08
158 $141,374.08 $561.55 $0.00 $799.35 $142,734.98
159 $142,734.98 $561.55 $0.00 $807.04 $144,103.57
160 $144,103.57 $561.55 $0.00 $814.78 $145,479.90
161 $145,479.90 $561.55 $0.00 $822.56 $146,864.01
162 $146,864.01 $561.55 $0.00 $830.39 $148,255.95
163 $148,255.95 $561.55 $0.00 $838.26 $149,655.76
164 $149,655.76 $561.55 $0.00 $846.18 $151,063.49
165 $151,063.49 $561.55 $0.00 $854.13 $152,479.17
166 $152,479.17 $561.55 $0.00 $862.14 $153,902.86
167 $153,902.86 $561.55 $0.00 $870.19 $155,334.60
168 $155,334.60 $561.55 $0.00 $878.28 $156,774.43
169 $156,774.43 $561.55 $0.00 $886.43 $158,222.41
170 $158,222.41 $561.55 $0.00 $894.61 $159,678.57
171 $159,678.57 $561.55 $0.00 $902.85 $161,142.97
172 $161,142.97 $561.55 $0.00 $911.13 $162,615.65
173 $162,615.65 $561.55 $0.00 $919.45 $164,096.65
174 $164,096.65 $561.55 $0.00 $927.83 $165,586.03
175 $165,586.03 $561.55 $0.00 $936.25 $167,083.83
176 $167,083.83 $561.55 $0.00 $944.72 $168,590.10
177 $168,590.10 $561.55 $0.00 $953.23 $170,104.88
178 $170,104.88 $561.55 $0.00 $961.80 $171,628.23
179 $171,628.23 $561.55 $0.00 $970.41 $173,160.19
180 $173,160.19 $561.55 $0.00 $979.07 $174,700.81
181 $174,700.81 $561.55 $0.00 $987.78 $176,250.14
182 $176,250.14 $561.55 $0.00 $996.54 $177,808.23
183 $177,808.23 $561.55 $0.00 $1,005.35 $179,375.13
184 $179,375.13 $561.55 $0.00 $1,014.21 $180,950.89
185 $180,950.89 $561.55 $0.00 $1,023.12 $182,535.56
186 $182,535.56 $561.55 $0.00 $1,032.08 $184,129.19
187 $184,129.19 $561.55 $0.00 $1,041.09 $185,731.83
188 $185,731.83 $561.55 $0.00 $1,050.15 $187,343.53
189 $187,343.53 $561.55 $0.00 $1,059.27 $188,964.35
190 $188,964.35 $561.55 $0.00 $1,068.43 $190,594.33
191 $190,594.33 $561.55 $0.00 $1,077.65 $192,233.53
192 $192,233.53 $561.55 $0.00 $1,086.92 $193,882.00
193 $193,882.00 $561.55 $0.00 $1,096.24 $195,539.79
194 $195,539.79 $561.55 $0.00 $1,105.61 $197,206.95
195 $197,206.95 $561.55 $0.00 $1,115.04 $198,883.54
196 $198,883.54 $561.55 $0.00 $1,124.52 $200,569.61
197 $200,569.61 $561.55 $0.00 $1,134.05 $202,265.21
198 $202,265.21 $561.55 $0.00 $1,143.64 $203,970.40
199 $203,970.40 $561.55 $0.00 $1,153.28 $205,685.23
200 $205,685.23 $561.55 $0.00 $1,162.97 $207,409.75
201 $207,409.75 $561.55 $0.00 $1,172.72 $209,144.02
202 $209,144.02 $561.55 $0.00 $1,182.53 $210,888.10
203 $210,888.10 $561.55 $0.00 $1,192.39 $212,642.04
204 $212,642.04 $561.55 $0.00 $1,202.31 $214,405.90
205 $214,405.90 $561.55 $0.00 $1,212.28 $216,179.73
206 $216,179.73 $561.55 $0.00 $1,222.31 $217,963.59
207 $217,963.59 $561.55 $0.00 $1,232.40 $219,757.54
208 $219,757.54 $561.55 $0.00 $1,242.54 $221,561.63
209 $221,561.63 $561.55 $0.00 $1,252.74 $223,375.92
210 $223,375.92 $561.55 $0.00 $1,263.00 $225,200.47
211 $225,200.47 $561.55 $0.00 $1,273.32 $227,035.34
212 $227,035.34 $561.55 $0.00 $1,283.69 $228,880.58
213 $228,880.58 $561.55 $0.00 $1,294.12 $230,736.25
214 $230,736.25 $561.55 $0.00 $1,304.62 $232,602.42
215 $232,602.42 $561.55 $0.00 $1,315.17 $234,479.14
216 $234,479.14 $561.55 $0.00 $1,325.78 $236,366.47
217 $236,366.47 $561.55 $65,835.48 $1,336.45 $172,428.99
218 $172,428.99 $561.55 $0.00 $974.94 $173,965.48
219 $173,965.48 $561.55 $0.00 $983.63 $175,510.66
220 $175,510.66 $561.55 $0.00 $992.36 $177,064.57
221 $177,064.57 $561.55 $0.00 $1,001.15 $178,627.27
222 $178,627.27 $561.55 $0.00 $1,009.98 $180,198.80
223 $180,198.80 $561.55 $0.00 $1,018.87 $181,779.22
224 $181,779.22 $561.55 $0.00 $1,027.81 $183,368.58
225 $183,368.58 $561.55 $0.00 $1,036.79 $184,966.92
226 $184,966.92 $561.55 $0.00 $1,045.83 $186,574.30
227 $186,574.30 $561.55 $0.00 $1,054.92 $188,190.77
228 $188,190.77 $561.55 $0.00 $1,064.06 $189,816.38
229 $189,816.38 $561.55 $69,127.25 $1,073.25 $122,323.93
230 $122,323.93 $561.55 $0.00 $691.64 $123,577.12
231 $123,577.12 $561.55 $0.00 $698.72 $124,837.39
232 $124,837.39 $561.55 $0.00 $705.85 $126,104.79
233 $126,104.79 $561.55 $0.00 $713.01 $127,379.35
234 $127,379.35 $561.55 $0.00 $720.22 $128,661.12
235 $128,661.12 $561.55 $0.00 $727.47 $129,950.14
236 $129,950.14 $561.55 $0.00 $734.76 $131,246.45
237 $131,246.45 $561.55 $0.00 $742.09 $132,550.09
238 $132,550.09 $561.55 $0.00 $749.46 $133,861.10
239 $133,861.10 $561.55 $0.00 $756.87 $135,179.52
240 $135,179.52 $561.55 $0.00 $764.32 $136,505.39
241 $136,505.39 $561.55 $72,583.61 $771.82 $65,255.15
242 $65,255.15 $561.55 $0.00 $368.96 $66,185.66
243 $66,185.66 $561.55 $0.00 $374.22 $67,121.43
244 $67,121.43 $561.55 $0.00 $379.51 $68,062.49
245 $68,062.49 $561.55 $0.00 $384.84 $69,008.88
246 $69,008.88 $561.55 $0.00 $390.19 $69,960.62
247 $69,960.62 $561.55 $0.00 $395.57 $70,917.74
248 $70,917.74 $561.55 $0.00 $400.98 $71,880.27
249 $71,880.27 $561.55 $0.00 $406.42 $72,848.24
250 $72,848.24 $561.55 $0.00 $411.89 $73,821.68
251 $73,821.68 $561.55 $0.00 $417.40 $74,800.63
252 $74,800.63 $561.55 $0.00 $422.93 $75,785.11
253 $75,785.11 $0.00 $76,212.79 $428.50 $0.82