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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$51,436
Monthly savings required$407

How much will it cost to send your child to Faith Evangelical College & Seminary in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $205,745.08 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $407.16 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$19,835.00
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 $407.16 $0.00 $0.00 $407.16
2 $407.16 $407.16 $0.00 $2.30 $816.62
3 $816.62 $407.16 $0.00 $4.62 $1,228.40
4 $1,228.40 $407.16 $0.00 $6.95 $1,642.51
5 $1,642.51 $407.16 $0.00 $9.29 $2,058.96
6 $2,058.96 $407.16 $0.00 $11.64 $2,477.76
7 $2,477.76 $407.16 $0.00 $14.01 $2,898.93
8 $2,898.93 $407.16 $0.00 $16.39 $3,322.48
9 $3,322.48 $407.16 $0.00 $18.79 $3,748.43
10 $3,748.43 $407.16 $0.00 $21.19 $4,176.78
11 $4,176.78 $407.16 $0.00 $23.62 $4,607.56
12 $4,607.56 $407.16 $0.00 $26.05 $5,040.77
13 $5,040.77 $407.16 $0.00 $28.50 $5,476.43
14 $5,476.43 $407.16 $0.00 $30.96 $5,914.55
15 $5,914.55 $407.16 $0.00 $33.44 $6,355.15
16 $6,355.15 $407.16 $0.00 $35.93 $6,798.24
17 $6,798.24 $407.16 $0.00 $38.44 $7,243.84
18 $7,243.84 $407.16 $0.00 $40.96 $7,691.96
19 $7,691.96 $407.16 $0.00 $43.49 $8,142.61
20 $8,142.61 $407.16 $0.00 $46.04 $8,595.81
21 $8,595.81 $407.16 $0.00 $48.60 $9,051.57
22 $9,051.57 $407.16 $0.00 $51.18 $9,509.91
23 $9,509.91 $407.16 $0.00 $53.77 $9,970.84
24 $9,970.84 $407.16 $0.00 $56.38 $10,434.38
25 $10,434.38 $407.16 $0.00 $59.00 $10,900.54
26 $10,900.54 $407.16 $0.00 $61.63 $11,369.33
27 $11,369.33 $407.16 $0.00 $64.28 $11,840.77
28 $11,840.77 $407.16 $0.00 $66.95 $12,314.88
29 $12,314.88 $407.16 $0.00 $69.63 $12,791.67
30 $12,791.67 $407.16 $0.00 $72.33 $13,271.16
31 $13,271.16 $407.16 $0.00 $75.04 $13,753.36
32 $13,753.36 $407.16 $0.00 $77.76 $14,238.28
33 $14,238.28 $407.16 $0.00 $80.51 $14,725.95
34 $14,725.95 $407.16 $0.00 $83.26 $15,216.37
35 $15,216.37 $407.16 $0.00 $86.04 $15,709.57
36 $15,709.57 $407.16 $0.00 $88.82 $16,205.55
37 $16,205.55 $407.16 $0.00 $91.63 $16,704.34
38 $16,704.34 $407.16 $0.00 $94.45 $17,205.95
39 $17,205.95 $407.16 $0.00 $97.28 $17,710.39
40 $17,710.39 $407.16 $0.00 $100.14 $18,217.69
41 $18,217.69 $407.16 $0.00 $103.01 $18,727.86
42 $18,727.86 $407.16 $0.00 $105.89 $19,240.91
43 $19,240.91 $407.16 $0.00 $108.79 $19,756.86
44 $19,756.86 $407.16 $0.00 $111.71 $20,275.73
45 $20,275.73 $407.16 $0.00 $114.64 $20,797.53
46 $20,797.53 $407.16 $0.00 $117.59 $21,322.28
47 $21,322.28 $407.16 $0.00 $120.56 $21,850.00
48 $21,850.00 $407.16 $0.00 $123.54 $22,380.70
49 $22,380.70 $407.16 $0.00 $126.54 $22,914.40
50 $22,914.40 $407.16 $0.00 $129.56 $23,451.12
51 $23,451.12 $407.16 $0.00 $132.60 $23,990.88
52 $23,990.88 $407.16 $0.00 $135.65 $24,533.69
53 $24,533.69 $407.16 $0.00 $138.72 $25,079.57
54 $25,079.57 $407.16 $0.00 $141.80 $25,628.53
55 $25,628.53 $407.16 $0.00 $144.91 $26,180.60
56 $26,180.60 $407.16 $0.00 $148.03 $26,735.79
57 $26,735.79 $407.16 $0.00 $151.17 $27,294.12
58 $27,294.12 $407.16 $0.00 $154.32 $27,855.60
59 $27,855.60 $407.16 $0.00 $157.50 $28,420.26
60 $28,420.26 $407.16 $0.00 $160.69 $28,988.11
61 $28,988.11 $407.16 $0.00 $163.90 $29,559.17
62 $29,559.17 $407.16 $0.00 $167.13 $30,133.46
63 $30,133.46 $407.16 $0.00 $170.38 $30,711.00
64 $30,711.00 $407.16 $0.00 $173.64 $31,291.80
65 $31,291.80 $407.16 $0.00 $176.93 $31,875.89
66 $31,875.89 $407.16 $0.00 $180.23 $32,463.28
67 $32,463.28 $407.16 $0.00 $183.55 $33,053.99
68 $33,053.99 $407.16 $0.00 $186.89 $33,648.04
69 $33,648.04 $407.16 $0.00 $190.25 $34,245.45
70 $34,245.45 $407.16 $0.00 $193.63 $34,846.24
71 $34,846.24 $407.16 $0.00 $197.03 $35,450.43
72 $35,450.43 $407.16 $0.00 $200.44 $36,058.03
73 $36,058.03 $407.16 $0.00 $203.88 $36,669.07
74 $36,669.07 $407.16 $0.00 $207.33 $37,283.56
75 $37,283.56 $407.16 $0.00 $210.81 $37,901.53
76 $37,901.53 $407.16 $0.00 $214.30 $38,522.99
77 $38,522.99 $407.16 $0.00 $217.81 $39,147.96
78 $39,147.96 $407.16 $0.00 $221.35 $39,776.47
79 $39,776.47 $407.16 $0.00 $224.90 $40,408.53
80 $40,408.53 $407.16 $0.00 $228.48 $41,044.17
81 $41,044.17 $407.16 $0.00 $232.07 $41,683.40
82 $41,683.40 $407.16 $0.00 $235.68 $42,326.24
83 $42,326.24 $407.16 $0.00 $239.32 $42,972.72
84 $42,972.72 $407.16 $0.00 $242.97 $43,622.85
85 $43,622.85 $407.16 $0.00 $246.65 $44,276.66
86 $44,276.66 $407.16 $0.00 $250.35 $44,934.17
87 $44,934.17 $407.16 $0.00 $254.06 $45,595.39
88 $45,595.39 $407.16 $0.00 $257.80 $46,260.35
89 $46,260.35 $407.16 $0.00 $261.56 $46,929.07
90 $46,929.07 $407.16 $0.00 $265.34 $47,601.57
91 $47,601.57 $407.16 $0.00 $269.15 $48,277.88
92 $48,277.88 $407.16 $0.00 $272.97 $48,958.01
93 $48,958.01 $407.16 $0.00 $276.82 $49,641.99
94 $49,641.99 $407.16 $0.00 $280.68 $50,329.83
95 $50,329.83 $407.16 $0.00 $284.57 $51,021.56
96 $51,021.56 $407.16 $0.00 $288.48 $51,717.20
97 $51,717.20 $407.16 $0.00 $292.42 $52,416.78
98 $52,416.78 $407.16 $0.00 $296.37 $53,120.31
99 $53,120.31 $407.16 $0.00 $300.35 $53,827.82
100 $53,827.82 $407.16 $0.00 $304.35 $54,539.33
101 $54,539.33 $407.16 $0.00 $308.37 $55,254.86
102 $55,254.86 $407.16 $0.00 $312.42 $55,974.44
103 $55,974.44 $407.16 $0.00 $316.49 $56,698.09
104 $56,698.09 $407.16 $0.00 $320.58 $57,425.83
105 $57,425.83 $407.16 $0.00 $324.69 $58,157.68
106 $58,157.68 $407.16 $0.00 $328.83 $58,893.67
107 $58,893.67 $407.16 $0.00 $332.99 $59,633.82
108 $59,633.82 $407.16 $0.00 $337.18 $60,378.16
109 $60,378.16 $407.16 $0.00 $341.39 $61,126.71
110 $61,126.71 $407.16 $0.00 $345.62 $61,879.49
111 $61,879.49 $407.16 $0.00 $349.88 $62,636.53
112 $62,636.53 $407.16 $0.00 $354.16 $63,397.85
113 $63,397.85 $407.16 $0.00 $358.46 $64,163.47
114 $64,163.47 $407.16 $0.00 $362.79 $64,933.42
115 $64,933.42 $407.16 $0.00 $367.14 $65,707.72
116 $65,707.72 $407.16 $0.00 $371.52 $66,486.40
117 $66,486.40 $407.16 $0.00 $375.92 $67,269.48
118 $67,269.48 $407.16 $0.00 $380.35 $68,056.99
119 $68,056.99 $407.16 $0.00 $384.80 $68,848.95
120 $68,848.95 $407.16 $0.00 $389.28 $69,645.39
121 $69,645.39 $407.16 $0.00 $393.79 $70,446.34
122 $70,446.34 $407.16 $0.00 $398.31 $71,251.81
123 $71,251.81 $407.16 $0.00 $402.87 $72,061.84
124 $72,061.84 $407.16 $0.00 $407.45 $72,876.45
125 $72,876.45 $407.16 $0.00 $412.05 $73,695.66
126 $73,695.66 $407.16 $0.00 $416.69 $74,519.51
127 $74,519.51 $407.16 $0.00 $421.34 $75,348.01
128 $75,348.01 $407.16 $0.00 $426.03 $76,181.20
129 $76,181.20 $407.16 $0.00 $430.74 $77,019.10
130 $77,019.10 $407.16 $0.00 $435.48 $77,861.74
131 $77,861.74 $407.16 $0.00 $440.24 $78,709.14
132 $78,709.14 $407.16 $0.00 $445.03 $79,561.33
133 $79,561.33 $407.16 $0.00 $449.85 $80,418.34
134 $80,418.34 $407.16 $0.00 $454.70 $81,280.20
135 $81,280.20 $407.16 $0.00 $459.57 $82,146.93
136 $82,146.93 $407.16 $0.00 $464.47 $83,018.56
137 $83,018.56 $407.16 $0.00 $469.40 $83,895.12
138 $83,895.12 $407.16 $0.00 $474.36 $84,776.64
139 $84,776.64 $407.16 $0.00 $479.34 $85,663.14
140 $85,663.14 $407.16 $0.00 $484.35 $86,554.65
141 $86,554.65 $407.16 $0.00 $489.39 $87,451.20
142 $87,451.20 $407.16 $0.00 $494.46 $88,352.82
143 $88,352.82 $407.16 $0.00 $499.56 $89,259.54
144 $89,259.54 $407.16 $0.00 $504.69 $90,171.39
145 $90,171.39 $407.16 $0.00 $509.84 $91,088.39
146 $91,088.39 $407.16 $0.00 $515.03 $92,010.58
147 $92,010.58 $407.16 $0.00 $520.24 $92,937.98
148 $92,937.98 $407.16 $0.00 $525.48 $93,870.62
149 $93,870.62 $407.16 $0.00 $530.76 $94,808.54
150 $94,808.54 $407.16 $0.00 $536.06 $95,751.76
151 $95,751.76 $407.16 $0.00 $541.39 $96,700.31
152 $96,700.31 $407.16 $0.00 $546.76 $97,654.23
153 $97,654.23 $407.16 $0.00 $552.15 $98,613.54
154 $98,613.54 $407.16 $0.00 $557.58 $99,578.28
155 $99,578.28 $407.16 $0.00 $563.03 $100,548.47
156 $100,548.47 $407.16 $0.00 $568.52 $101,524.15
157 $101,524.15 $407.16 $0.00 $574.03 $102,505.34
158 $102,505.34 $407.16 $0.00 $579.58 $103,492.08
159 $103,492.08 $407.16 $0.00 $585.16 $104,484.40
160 $104,484.40 $407.16 $0.00 $590.77 $105,482.33
161 $105,482.33 $407.16 $0.00 $596.41 $106,485.90
162 $106,485.90 $407.16 $0.00 $602.09 $107,495.15
163 $107,495.15 $407.16 $0.00 $607.79 $108,510.10
164 $108,510.10 $407.16 $0.00 $613.53 $109,530.79
165 $109,530.79 $407.16 $0.00 $619.30 $110,557.25
166 $110,557.25 $407.16 $0.00 $625.11 $111,589.52
167 $111,589.52 $407.16 $0.00 $630.94 $112,627.62
168 $112,627.62 $407.16 $0.00 $636.81 $113,671.59
169 $113,671.59 $407.16 $0.00 $642.72 $114,721.47
170 $114,721.47 $407.16 $0.00 $648.65 $115,777.28
171 $115,777.28 $407.16 $0.00 $654.62 $116,839.06
172 $116,839.06 $407.16 $0.00 $660.63 $117,906.85
173 $117,906.85 $407.16 $0.00 $666.66 $118,980.67
174 $118,980.67 $407.16 $0.00 $672.73 $120,060.56
175 $120,060.56 $407.16 $0.00 $678.84 $121,146.56
176 $121,146.56 $407.16 $0.00 $684.98 $122,238.70
177 $122,238.70 $407.16 $0.00 $691.16 $123,337.02
178 $123,337.02 $407.16 $0.00 $697.37 $124,441.55
179 $124,441.55 $407.16 $0.00 $703.61 $125,552.32
180 $125,552.32 $407.16 $0.00 $709.89 $126,669.37
181 $126,669.37 $407.16 $0.00 $716.21 $127,792.74
182 $127,792.74 $407.16 $0.00 $722.56 $128,922.46
183 $128,922.46 $407.16 $0.00 $728.95 $130,058.57
184 $130,058.57 $407.16 $0.00 $735.37 $131,201.10
185 $131,201.10 $407.16 $0.00 $741.83 $132,350.09
186 $132,350.09 $407.16 $0.00 $748.33 $133,505.58
187 $133,505.58 $407.16 $0.00 $754.86 $134,667.60
188 $134,667.60 $407.16 $0.00 $761.43 $135,836.19
189 $135,836.19 $407.16 $0.00 $768.04 $137,011.39
190 $137,011.39 $407.16 $0.00 $774.68 $138,193.23
191 $138,193.23 $407.16 $0.00 $781.36 $139,381.75
192 $139,381.75 $407.16 $0.00 $788.08 $140,576.99
193 $140,576.99 $407.16 $0.00 $794.84 $141,778.99
194 $141,778.99 $407.16 $0.00 $801.64 $142,987.79
195 $142,987.79 $407.16 $0.00 $808.47 $144,203.42
196 $144,203.42 $407.16 $0.00 $815.35 $145,425.93
197 $145,425.93 $407.16 $0.00 $822.26 $146,655.35
198 $146,655.35 $407.16 $0.00 $829.21 $147,891.72
199 $147,891.72 $407.16 $0.00 $836.20 $149,135.08
200 $149,135.08 $407.16 $0.00 $843.23 $150,385.47
201 $150,385.47 $407.16 $0.00 $850.30 $151,642.93
202 $151,642.93 $407.16 $0.00 $857.41 $152,907.50
203 $152,907.50 $407.16 $0.00 $864.56 $154,179.22
204 $154,179.22 $407.16 $0.00 $871.75 $155,458.13
205 $155,458.13 $407.16 $0.00 $878.98 $156,744.27
206 $156,744.27 $407.16 $0.00 $886.25 $158,037.68
207 $158,037.68 $407.16 $0.00 $893.57 $159,338.41
208 $159,338.41 $407.16 $0.00 $900.92 $160,646.49
209 $160,646.49 $407.16 $0.00 $908.32 $161,961.97
210 $161,961.97 $407.16 $0.00 $915.76 $163,284.89
211 $163,284.89 $407.16 $0.00 $923.24 $164,615.29
212 $164,615.29 $407.16 $0.00 $930.76 $165,953.21
213 $165,953.21 $407.16 $0.00 $938.32 $167,298.69
214 $167,298.69 $407.16 $0.00 $945.93 $168,651.78
215 $168,651.78 $407.16 $0.00 $953.58 $170,012.52
216 $170,012.52 $407.16 $0.00 $961.28 $171,380.96
217 $171,380.96 $407.16 $47,735.29 $969.01 $125,021.84
218 $125,021.84 $407.16 $0.00 $706.89 $126,135.89
219 $126,135.89 $407.16 $0.00 $713.19 $127,256.24
220 $127,256.24 $407.16 $0.00 $719.53 $128,382.93
221 $128,382.93 $407.16 $0.00 $725.90 $129,515.99
222 $129,515.99 $407.16 $0.00 $732.30 $130,655.45
223 $130,655.45 $407.16 $0.00 $738.74 $131,801.35
224 $131,801.35 $407.16 $0.00 $745.22 $132,953.73
225 $132,953.73 $407.16 $0.00 $751.74 $134,112.63
226 $134,112.63 $407.16 $0.00 $758.29 $135,278.08
227 $135,278.08 $407.16 $0.00 $764.88 $136,450.12
228 $136,450.12 $407.16 $0.00 $771.51 $137,628.79
229 $137,628.79 $407.16 $50,122.06 $778.17 $88,692.06
230 $88,692.06 $407.16 $0.00 $501.48 $89,600.70
231 $89,600.70 $407.16 $0.00 $506.62 $90,514.48
232 $90,514.48 $407.16 $0.00 $511.78 $91,433.42
233 $91,433.42 $407.16 $0.00 $516.98 $92,357.56
234 $92,357.56 $407.16 $0.00 $522.20 $93,286.92
235 $93,286.92 $407.16 $0.00 $527.46 $94,221.54
236 $94,221.54 $407.16 $0.00 $532.74 $95,161.44
237 $95,161.44 $407.16 $0.00 $538.06 $96,106.66
238 $96,106.66 $407.16 $0.00 $543.40 $97,057.22
239 $97,057.22 $407.16 $0.00 $548.78 $98,013.16
240 $98,013.16 $407.16 $0.00 $554.18 $98,974.50
241 $98,974.50 $407.16 $52,628.16 $559.62 $47,313.12
242 $47,313.12 $407.16 $0.00 $267.52 $47,987.80
243 $47,987.80 $407.16 $0.00 $271.33 $48,666.29
244 $48,666.29 $407.16 $0.00 $275.17 $49,348.62
245 $49,348.62 $407.16 $0.00 $279.02 $50,034.80
246 $50,034.80 $407.16 $0.00 $282.90 $50,724.86
247 $50,724.86 $407.16 $0.00 $286.81 $51,418.83
248 $51,418.83 $407.16 $0.00 $290.73 $52,116.72
249 $52,116.72 $407.16 $0.00 $294.68 $52,818.56
250 $52,818.56 $407.16 $0.00 $298.64 $53,524.36
251 $53,524.36 $407.16 $0.00 $302.63 $54,234.15
252 $54,234.15 $407.16 $0.00 $306.65 $54,947.96
253 $54,947.96 $0.00 $55,259.57 $310.68 ($0.93)