Savings Plan and Future Cost Estimation for Biola University

How much will it cost and what do you need to save?

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$224,710
Monthly savings required$1,776

How much will it cost to send your child to Biola University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $898,841.70 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,775.94 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$59,896.00
Years until enrollment18
Annual Tuition Increase7%
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 $1,775.94 $0.00 $0.00 $1,775.94
2 $1,775.94 $1,775.94 $0.00 $10.04 $3,561.92
3 $3,561.92 $1,775.94 $0.00 $20.14 $5,358.00
4 $5,358.00 $1,775.94 $0.00 $30.29 $7,164.23
5 $7,164.23 $1,775.94 $0.00 $40.51 $8,980.68
6 $8,980.68 $1,775.94 $0.00 $50.78 $10,807.40
7 $10,807.40 $1,775.94 $0.00 $61.11 $12,644.45
8 $12,644.45 $1,775.94 $0.00 $71.49 $14,491.88
9 $14,491.88 $1,775.94 $0.00 $81.94 $16,349.76
10 $16,349.76 $1,775.94 $0.00 $92.44 $18,218.14
11 $18,218.14 $1,775.94 $0.00 $103.01 $20,097.09
12 $20,097.09 $1,775.94 $0.00 $113.63 $21,986.66
13 $21,986.66 $1,775.94 $0.00 $124.32 $23,886.92
14 $23,886.92 $1,775.94 $0.00 $135.06 $25,797.92
15 $25,797.92 $1,775.94 $0.00 $145.87 $27,719.73
16 $27,719.73 $1,775.94 $0.00 $156.73 $29,652.40
17 $29,652.40 $1,775.94 $0.00 $167.66 $31,596.00
18 $31,596.00 $1,775.94 $0.00 $178.65 $33,550.59
19 $33,550.59 $1,775.94 $0.00 $189.70 $35,516.23
20 $35,516.23 $1,775.94 $0.00 $200.81 $37,492.98
21 $37,492.98 $1,775.94 $0.00 $211.99 $39,480.91
22 $39,480.91 $1,775.94 $0.00 $223.23 $41,480.08
23 $41,480.08 $1,775.94 $0.00 $234.53 $43,490.55
24 $43,490.55 $1,775.94 $0.00 $245.90 $45,512.39
25 $45,512.39 $1,775.94 $0.00 $257.33 $47,545.66
26 $47,545.66 $1,775.94 $0.00 $268.83 $49,590.43
27 $49,590.43 $1,775.94 $0.00 $280.39 $51,646.76
28 $51,646.76 $1,775.94 $0.00 $292.02 $53,714.72
29 $53,714.72 $1,775.94 $0.00 $303.71 $55,794.37
30 $55,794.37 $1,775.94 $0.00 $315.47 $57,885.78
31 $57,885.78 $1,775.94 $0.00 $327.29 $59,989.01
32 $59,989.01 $1,775.94 $0.00 $339.19 $62,104.14
33 $62,104.14 $1,775.94 $0.00 $351.15 $64,231.23
34 $64,231.23 $1,775.94 $0.00 $363.17 $66,370.34
35 $66,370.34 $1,775.94 $0.00 $375.27 $68,521.55
36 $68,521.55 $1,775.94 $0.00 $387.43 $70,684.92
37 $70,684.92 $1,775.94 $0.00 $399.66 $72,860.52
38 $72,860.52 $1,775.94 $0.00 $411.96 $75,048.42
39 $75,048.42 $1,775.94 $0.00 $424.33 $77,248.69
40 $77,248.69 $1,775.94 $0.00 $436.78 $79,461.41
41 $79,461.41 $1,775.94 $0.00 $449.29 $81,686.64
42 $81,686.64 $1,775.94 $0.00 $461.87 $83,924.45
43 $83,924.45 $1,775.94 $0.00 $474.52 $86,174.91
44 $86,174.91 $1,775.94 $0.00 $487.25 $88,438.10
45 $88,438.10 $1,775.94 $0.00 $500.04 $90,714.08
46 $90,714.08 $1,775.94 $0.00 $512.91 $93,002.93
47 $93,002.93 $1,775.94 $0.00 $525.85 $95,304.72
48 $95,304.72 $1,775.94 $0.00 $538.87 $97,619.53
49 $97,619.53 $1,775.94 $0.00 $551.96 $99,947.43
50 $99,947.43 $1,775.94 $0.00 $565.12 $102,288.49
51 $102,288.49 $1,775.94 $0.00 $578.35 $104,642.78
52 $104,642.78 $1,775.94 $0.00 $591.67 $107,010.39
53 $107,010.39 $1,775.94 $0.00 $605.05 $109,391.38
54 $109,391.38 $1,775.94 $0.00 $618.51 $111,785.83
55 $111,785.83 $1,775.94 $0.00 $632.05 $114,193.82
56 $114,193.82 $1,775.94 $0.00 $645.67 $116,615.43
57 $116,615.43 $1,775.94 $0.00 $659.36 $119,050.73
58 $119,050.73 $1,775.94 $0.00 $673.13 $121,499.80
59 $121,499.80 $1,775.94 $0.00 $686.98 $123,962.72
60 $123,962.72 $1,775.94 $0.00 $700.90 $126,439.56
61 $126,439.56 $1,775.94 $0.00 $714.91 $128,930.41
62 $128,930.41 $1,775.94 $0.00 $728.99 $131,435.34
63 $131,435.34 $1,775.94 $0.00 $743.15 $133,954.43
64 $133,954.43 $1,775.94 $0.00 $757.40 $136,487.77
65 $136,487.77 $1,775.94 $0.00 $771.72 $139,035.43
66 $139,035.43 $1,775.94 $0.00 $786.13 $141,597.50
67 $141,597.50 $1,775.94 $0.00 $800.61 $144,174.05
68 $144,174.05 $1,775.94 $0.00 $815.18 $146,765.17
69 $146,765.17 $1,775.94 $0.00 $829.83 $149,370.94
70 $149,370.94 $1,775.94 $0.00 $844.57 $151,991.45
71 $151,991.45 $1,775.94 $0.00 $859.38 $154,626.77
72 $154,626.77 $1,775.94 $0.00 $874.28 $157,276.99
73 $157,276.99 $1,775.94 $0.00 $889.27 $159,942.20
74 $159,942.20 $1,775.94 $0.00 $904.34 $162,622.48
75 $162,622.48 $1,775.94 $0.00 $919.49 $165,317.91
76 $165,317.91 $1,775.94 $0.00 $934.73 $168,028.58
77 $168,028.58 $1,775.94 $0.00 $950.06 $170,754.58
78 $170,754.58 $1,775.94 $0.00 $965.47 $173,495.99
79 $173,495.99 $1,775.94 $0.00 $980.97 $176,252.90
80 $176,252.90 $1,775.94 $0.00 $996.56 $179,025.40
81 $179,025.40 $1,775.94 $0.00 $1,012.24 $181,813.58
82 $181,813.58 $1,775.94 $0.00 $1,028.00 $184,617.52
83 $184,617.52 $1,775.94 $0.00 $1,043.85 $187,437.31
84 $187,437.31 $1,775.94 $0.00 $1,059.80 $190,273.05
85 $190,273.05 $1,775.94 $0.00 $1,075.83 $193,124.82
86 $193,124.82 $1,775.94 $0.00 $1,091.96 $195,992.72
87 $195,992.72 $1,775.94 $0.00 $1,108.17 $198,876.83
88 $198,876.83 $1,775.94 $0.00 $1,124.48 $201,777.25
89 $201,777.25 $1,775.94 $0.00 $1,140.88 $204,694.07
90 $204,694.07 $1,775.94 $0.00 $1,157.37 $207,627.38
91 $207,627.38 $1,775.94 $0.00 $1,173.96 $210,577.28
92 $210,577.28 $1,775.94 $0.00 $1,190.63 $213,543.85
93 $213,543.85 $1,775.94 $0.00 $1,207.41 $216,527.20
94 $216,527.20 $1,775.94 $0.00 $1,224.28 $219,527.42
95 $219,527.42 $1,775.94 $0.00 $1,241.24 $222,544.60
96 $222,544.60 $1,775.94 $0.00 $1,258.30 $225,578.84
97 $225,578.84 $1,775.94 $0.00 $1,275.46 $228,630.24
98 $228,630.24 $1,775.94 $0.00 $1,292.71 $231,698.89
99 $231,698.89 $1,775.94 $0.00 $1,310.06 $234,784.89
100 $234,784.89 $1,775.94 $0.00 $1,327.51 $237,888.34
101 $237,888.34 $1,775.94 $0.00 $1,345.06 $241,009.34
102 $241,009.34 $1,775.94 $0.00 $1,362.70 $244,147.98
103 $244,147.98 $1,775.94 $0.00 $1,380.45 $247,304.37
104 $247,304.37 $1,775.94 $0.00 $1,398.29 $250,478.60
105 $250,478.60 $1,775.94 $0.00 $1,416.24 $253,670.78
106 $253,670.78 $1,775.94 $0.00 $1,434.29 $256,881.01
107 $256,881.01 $1,775.94 $0.00 $1,452.44 $260,109.39
108 $260,109.39 $1,775.94 $0.00 $1,470.70 $263,356.03
109 $263,356.03 $1,775.94 $0.00 $1,489.05 $266,621.02
110 $266,621.02 $1,775.94 $0.00 $1,507.51 $269,904.47
111 $269,904.47 $1,775.94 $0.00 $1,526.08 $273,206.49
112 $273,206.49 $1,775.94 $0.00 $1,544.75 $276,527.18
113 $276,527.18 $1,775.94 $0.00 $1,563.52 $279,866.64
114 $279,866.64 $1,775.94 $0.00 $1,582.41 $283,224.99
115 $283,224.99 $1,775.94 $0.00 $1,601.40 $286,602.33
116 $286,602.33 $1,775.94 $0.00 $1,620.49 $289,998.76
117 $289,998.76 $1,775.94 $0.00 $1,639.70 $293,414.40
118 $293,414.40 $1,775.94 $0.00 $1,659.01 $296,849.35
119 $296,849.35 $1,775.94 $0.00 $1,678.43 $300,303.72
120 $300,303.72 $1,775.94 $0.00 $1,697.96 $303,777.62
121 $303,777.62 $1,775.94 $0.00 $1,717.60 $307,271.16
122 $307,271.16 $1,775.94 $0.00 $1,737.36 $310,784.46
123 $310,784.46 $1,775.94 $0.00 $1,757.22 $314,317.62
124 $314,317.62 $1,775.94 $0.00 $1,777.20 $317,870.76
125 $317,870.76 $1,775.94 $0.00 $1,797.29 $321,443.99
126 $321,443.99 $1,775.94 $0.00 $1,817.49 $325,037.42
127 $325,037.42 $1,775.94 $0.00 $1,837.81 $328,651.17
128 $328,651.17 $1,775.94 $0.00 $1,858.24 $332,285.35
129 $332,285.35 $1,775.94 $0.00 $1,878.79 $335,940.08
130 $335,940.08 $1,775.94 $0.00 $1,899.45 $339,615.47
131 $339,615.47 $1,775.94 $0.00 $1,920.24 $343,311.65
132 $343,311.65 $1,775.94 $0.00 $1,941.13 $347,028.72
133 $347,028.72 $1,775.94 $0.00 $1,962.15 $350,766.81
134 $350,766.81 $1,775.94 $0.00 $1,983.29 $354,526.04
135 $354,526.04 $1,775.94 $0.00 $2,004.54 $358,306.52
136 $358,306.52 $1,775.94 $0.00 $2,025.92 $362,108.38
137 $362,108.38 $1,775.94 $0.00 $2,047.41 $365,931.73
138 $365,931.73 $1,775.94 $0.00 $2,069.03 $369,776.70
139 $369,776.70 $1,775.94 $0.00 $2,090.77 $373,643.41
140 $373,643.41 $1,775.94 $0.00 $2,112.63 $377,531.98
141 $377,531.98 $1,775.94 $0.00 $2,134.62 $381,442.54
142 $381,442.54 $1,775.94 $0.00 $2,156.73 $385,375.21
143 $385,375.21 $1,775.94 $0.00 $2,178.97 $389,330.12
144 $389,330.12 $1,775.94 $0.00 $2,201.33 $393,307.39
145 $393,307.39 $1,775.94 $0.00 $2,223.82 $397,307.15
146 $397,307.15 $1,775.94 $0.00 $2,246.43 $401,329.52
147 $401,329.52 $1,775.94 $0.00 $2,269.18 $405,374.64
148 $405,374.64 $1,775.94 $0.00 $2,292.05 $409,442.63
149 $409,442.63 $1,775.94 $0.00 $2,315.05 $413,533.62
150 $413,533.62 $1,775.94 $0.00 $2,338.18 $417,647.74
151 $417,647.74 $1,775.94 $0.00 $2,361.44 $421,785.12
152 $421,785.12 $1,775.94 $0.00 $2,384.83 $425,945.89
153 $425,945.89 $1,775.94 $0.00 $2,408.36 $430,130.19
154 $430,130.19 $1,775.94 $0.00 $2,432.02 $434,338.15
155 $434,338.15 $1,775.94 $0.00 $2,455.81 $438,569.90
156 $438,569.90 $1,775.94 $0.00 $2,479.74 $442,825.58
157 $442,825.58 $1,775.94 $0.00 $2,503.80 $447,105.32
158 $447,105.32 $1,775.94 $0.00 $2,528.00 $451,409.26
159 $451,409.26 $1,775.94 $0.00 $2,552.33 $455,737.53
160 $455,737.53 $1,775.94 $0.00 $2,576.81 $460,090.28
161 $460,090.28 $1,775.94 $0.00 $2,601.42 $464,467.64
162 $464,467.64 $1,775.94 $0.00 $2,626.17 $468,869.75
163 $468,869.75 $1,775.94 $0.00 $2,651.06 $473,296.75
164 $473,296.75 $1,775.94 $0.00 $2,676.09 $477,748.78
165 $477,748.78 $1,775.94 $0.00 $2,701.26 $482,225.98
166 $482,225.98 $1,775.94 $0.00 $2,726.58 $486,728.50
167 $486,728.50 $1,775.94 $0.00 $2,752.03 $491,256.47
168 $491,256.47 $1,775.94 $0.00 $2,777.64 $495,810.05
169 $495,810.05 $1,775.94 $0.00 $2,803.38 $500,389.37
170 $500,389.37 $1,775.94 $0.00 $2,829.27 $504,994.58
171 $504,994.58 $1,775.94 $0.00 $2,855.31 $509,625.83
172 $509,625.83 $1,775.94 $0.00 $2,881.50 $514,283.27
173 $514,283.27 $1,775.94 $0.00 $2,907.83 $518,967.04
174 $518,967.04 $1,775.94 $0.00 $2,934.32 $523,677.30
175 $523,677.30 $1,775.94 $0.00 $2,960.95 $528,414.19
176 $528,414.19 $1,775.94 $0.00 $2,987.73 $533,177.86
177 $533,177.86 $1,775.94 $0.00 $3,014.67 $537,968.47
178 $537,968.47 $1,775.94 $0.00 $3,041.75 $542,786.16
179 $542,786.16 $1,775.94 $0.00 $3,068.99 $547,631.09
180 $547,631.09 $1,775.94 $0.00 $3,096.39 $552,503.42
181 $552,503.42 $1,775.94 $0.00 $3,123.93 $557,403.29
182 $557,403.29 $1,775.94 $0.00 $3,151.64 $562,330.87
183 $562,330.87 $1,775.94 $0.00 $3,179.50 $567,286.31
184 $567,286.31 $1,775.94 $0.00 $3,207.52 $572,269.77
185 $572,269.77 $1,775.94 $0.00 $3,235.70 $577,281.41
186 $577,281.41 $1,775.94 $0.00 $3,264.03 $582,321.38
187 $582,321.38 $1,775.94 $0.00 $3,292.53 $587,389.85
188 $587,389.85 $1,775.94 $0.00 $3,321.19 $592,486.98
189 $592,486.98 $1,775.94 $0.00 $3,350.01 $597,612.93
190 $597,612.93 $1,775.94 $0.00 $3,378.99 $602,767.86
191 $602,767.86 $1,775.94 $0.00 $3,408.14 $607,951.94
192 $607,951.94 $1,775.94 $0.00 $3,437.45 $613,165.33
193 $613,165.33 $1,775.94 $0.00 $3,466.93 $618,408.20
194 $618,408.20 $1,775.94 $0.00 $3,496.57 $623,680.71
195 $623,680.71 $1,775.94 $0.00 $3,526.38 $628,983.03
196 $628,983.03 $1,775.94 $0.00 $3,556.36 $634,315.33
197 $634,315.33 $1,775.94 $0.00 $3,586.51 $639,677.78
198 $639,677.78 $1,775.94 $0.00 $3,616.83 $645,070.55
199 $645,070.55 $1,775.94 $0.00 $3,647.32 $650,493.81
200 $650,493.81 $1,775.94 $0.00 $3,677.99 $655,947.74
201 $655,947.74 $1,775.94 $0.00 $3,708.82 $661,432.50
202 $661,432.50 $1,775.94 $0.00 $3,739.84 $666,948.28
203 $666,948.28 $1,775.94 $0.00 $3,771.02 $672,495.24
204 $672,495.24 $1,775.94 $0.00 $3,802.39 $678,073.57
205 $678,073.57 $1,775.94 $0.00 $3,833.93 $683,683.44
206 $683,683.44 $1,775.94 $0.00 $3,865.65 $689,325.03
207 $689,325.03 $1,775.94 $0.00 $3,897.54 $694,998.51
208 $694,998.51 $1,775.94 $0.00 $3,929.62 $700,704.07
209 $700,704.07 $1,775.94 $0.00 $3,961.88 $706,441.89
210 $706,441.89 $1,775.94 $0.00 $3,994.33 $712,212.16
211 $712,212.16 $1,775.94 $0.00 $4,026.95 $718,015.05
212 $718,015.05 $1,775.94 $0.00 $4,059.76 $723,850.75
213 $723,850.75 $1,775.94 $0.00 $4,092.76 $729,719.45
214 $729,719.45 $1,775.94 $0.00 $4,125.94 $735,621.33
215 $735,621.33 $1,775.94 $0.00 $4,159.31 $741,556.58
216 $741,556.58 $1,775.94 $0.00 $4,192.87 $747,525.39
217 $747,525.39 $1,775.94 $202,444.42 $4,226.62 $551,083.53
218 $551,083.53 $1,775.94 $0.00 $3,115.91 $555,975.38
219 $555,975.38 $1,775.94 $0.00 $3,143.57 $560,894.89
220 $560,894.89 $1,775.94 $0.00 $3,171.38 $565,842.21
221 $565,842.21 $1,775.94 $0.00 $3,199.35 $570,817.50
222 $570,817.50 $1,775.94 $0.00 $3,227.49 $575,820.93
223 $575,820.93 $1,775.94 $0.00 $3,255.78 $580,852.65
224 $580,852.65 $1,775.94 $0.00 $3,284.23 $585,912.82
225 $585,912.82 $1,775.94 $0.00 $3,312.84 $591,001.60
226 $591,001.60 $1,775.94 $0.00 $3,341.61 $596,119.15
227 $596,119.15 $1,775.94 $0.00 $3,370.54 $601,265.63
228 $601,265.63 $1,775.94 $0.00 $3,399.64 $606,441.21
229 $606,441.21 $1,775.94 $216,615.53 $3,428.91 $395,030.53
230 $395,030.53 $1,775.94 $0.00 $2,233.56 $399,040.03
231 $399,040.03 $1,775.94 $0.00 $2,256.23 $403,072.20
232 $403,072.20 $1,775.94 $0.00 $2,279.03 $407,127.17
233 $407,127.17 $1,775.94 $0.00 $2,301.96 $411,205.07
234 $411,205.07 $1,775.94 $0.00 $2,325.01 $415,306.02
235 $415,306.02 $1,775.94 $0.00 $2,348.20 $419,430.16
236 $419,430.16 $1,775.94 $0.00 $2,371.52 $423,577.62
237 $423,577.62 $1,775.94 $0.00 $2,394.97 $427,748.53
238 $427,748.53 $1,775.94 $0.00 $2,418.55 $431,943.02
239 $431,943.02 $1,775.94 $0.00 $2,442.27 $436,161.23
240 $436,161.23 $1,775.94 $0.00 $2,466.12 $440,403.29
241 $440,403.29 $1,775.94 $231,778.62 $2,490.10 $212,890.71
242 $212,890.71 $1,775.94 $0.00 $1,203.72 $215,870.37
243 $215,870.37 $1,775.94 $0.00 $1,220.56 $218,866.87
244 $218,866.87 $1,775.94 $0.00 $1,237.51 $221,880.32
245 $221,880.32 $1,775.94 $0.00 $1,254.54 $224,910.80
246 $224,910.80 $1,775.94 $0.00 $1,271.68 $227,958.42
247 $227,958.42 $1,775.94 $0.00 $1,288.91 $231,023.27
248 $231,023.27 $1,775.94 $0.00 $1,306.24 $234,105.45
249 $234,105.45 $1,775.94 $0.00 $1,323.67 $237,205.06
250 $237,205.06 $1,775.94 $0.00 $1,341.19 $240,322.19
251 $240,322.19 $1,775.94 $0.00 $1,358.82 $243,456.95
252 $243,456.95 $1,775.94 $0.00 $1,376.54 $246,609.43
253 $246,609.43 $0.00 $248,003.12 $1,394.37 $0.68