Savings Plan and Future Cost Estimation for Morehouse College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$187,719
Monthly savings required$1,484

How much will it cost to send your child to Morehouse College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $750,875.57 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,483.60 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$50,036.00
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 $1,483.60 $0.00 $0.00 $1,483.60
2 $1,483.60 $1,483.60 $0.00 $8.39 $2,975.59
3 $2,975.59 $1,483.60 $0.00 $16.82 $4,476.01
4 $4,476.01 $1,483.60 $0.00 $25.31 $5,984.92
5 $5,984.92 $1,483.60 $0.00 $33.84 $7,502.36
6 $7,502.36 $1,483.60 $0.00 $42.42 $9,028.38
7 $9,028.38 $1,483.60 $0.00 $51.05 $10,563.03
8 $10,563.03 $1,483.60 $0.00 $59.72 $12,106.35
9 $12,106.35 $1,483.60 $0.00 $68.45 $13,658.40
10 $13,658.40 $1,483.60 $0.00 $77.23 $15,219.23
11 $15,219.23 $1,483.60 $0.00 $86.05 $16,788.88
12 $16,788.88 $1,483.60 $0.00 $94.93 $18,367.41
13 $18,367.41 $1,483.60 $0.00 $103.85 $19,954.86
14 $19,954.86 $1,483.60 $0.00 $112.83 $21,551.29
15 $21,551.29 $1,483.60 $0.00 $121.85 $23,156.74
16 $23,156.74 $1,483.60 $0.00 $130.93 $24,771.27
17 $24,771.27 $1,483.60 $0.00 $140.06 $26,394.93
18 $26,394.93 $1,483.60 $0.00 $149.24 $28,027.77
19 $28,027.77 $1,483.60 $0.00 $158.47 $29,669.84
20 $29,669.84 $1,483.60 $0.00 $167.76 $31,321.20
21 $31,321.20 $1,483.60 $0.00 $177.09 $32,981.89
22 $32,981.89 $1,483.60 $0.00 $186.48 $34,651.97
23 $34,651.97 $1,483.60 $0.00 $195.93 $36,331.50
24 $36,331.50 $1,483.60 $0.00 $205.42 $38,020.52
25 $38,020.52 $1,483.60 $0.00 $214.97 $39,719.09
26 $39,719.09 $1,483.60 $0.00 $224.58 $41,427.27
27 $41,427.27 $1,483.60 $0.00 $234.24 $43,145.11
28 $43,145.11 $1,483.60 $0.00 $243.95 $44,872.66
29 $44,872.66 $1,483.60 $0.00 $253.72 $46,609.98
30 $46,609.98 $1,483.60 $0.00 $263.54 $48,357.12
31 $48,357.12 $1,483.60 $0.00 $273.42 $50,114.14
32 $50,114.14 $1,483.60 $0.00 $283.35 $51,881.09
33 $51,881.09 $1,483.60 $0.00 $293.34 $53,658.03
34 $53,658.03 $1,483.60 $0.00 $303.39 $55,445.02
35 $55,445.02 $1,483.60 $0.00 $313.49 $57,242.11
36 $57,242.11 $1,483.60 $0.00 $323.66 $59,049.37
37 $59,049.37 $1,483.60 $0.00 $333.87 $60,866.84
38 $60,866.84 $1,483.60 $0.00 $344.15 $62,694.59
39 $62,694.59 $1,483.60 $0.00 $354.48 $64,532.67
40 $64,532.67 $1,483.60 $0.00 $364.88 $66,381.15
41 $66,381.15 $1,483.60 $0.00 $375.33 $68,240.08
42 $68,240.08 $1,483.60 $0.00 $385.84 $70,109.52
43 $70,109.52 $1,483.60 $0.00 $396.41 $71,989.53
44 $71,989.53 $1,483.60 $0.00 $407.04 $73,880.17
45 $73,880.17 $1,483.60 $0.00 $417.73 $75,781.50
46 $75,781.50 $1,483.60 $0.00 $428.48 $77,693.58
47 $77,693.58 $1,483.60 $0.00 $439.29 $79,616.47
48 $79,616.47 $1,483.60 $0.00 $450.16 $81,550.23
49 $81,550.23 $1,483.60 $0.00 $461.10 $83,494.93
50 $83,494.93 $1,483.60 $0.00 $472.09 $85,450.62
51 $85,450.62 $1,483.60 $0.00 $483.15 $87,417.37
52 $87,417.37 $1,483.60 $0.00 $494.27 $89,395.24
53 $89,395.24 $1,483.60 $0.00 $505.45 $91,384.29
54 $91,384.29 $1,483.60 $0.00 $516.70 $93,384.59
55 $93,384.59 $1,483.60 $0.00 $528.01 $95,396.20
56 $95,396.20 $1,483.60 $0.00 $539.38 $97,419.18
57 $97,419.18 $1,483.60 $0.00 $550.82 $99,453.60
58 $99,453.60 $1,483.60 $0.00 $562.33 $101,499.53
59 $101,499.53 $1,483.60 $0.00 $573.89 $103,557.02
60 $103,557.02 $1,483.60 $0.00 $585.53 $105,626.15
61 $105,626.15 $1,483.60 $0.00 $597.23 $107,706.98
62 $107,706.98 $1,483.60 $0.00 $608.99 $109,799.57
63 $109,799.57 $1,483.60 $0.00 $620.82 $111,903.99
64 $111,903.99 $1,483.60 $0.00 $632.72 $114,020.31
65 $114,020.31 $1,483.60 $0.00 $644.69 $116,148.60
66 $116,148.60 $1,483.60 $0.00 $656.72 $118,288.92
67 $118,288.92 $1,483.60 $0.00 $668.82 $120,441.34
68 $120,441.34 $1,483.60 $0.00 $680.99 $122,605.93
69 $122,605.93 $1,483.60 $0.00 $693.23 $124,782.76
70 $124,782.76 $1,483.60 $0.00 $705.54 $126,971.90
71 $126,971.90 $1,483.60 $0.00 $717.92 $129,173.42
72 $129,173.42 $1,483.60 $0.00 $730.37 $131,387.39
73 $131,387.39 $1,483.60 $0.00 $742.88 $133,613.87
74 $133,613.87 $1,483.60 $0.00 $755.47 $135,852.94
75 $135,852.94 $1,483.60 $0.00 $768.13 $138,104.67
76 $138,104.67 $1,483.60 $0.00 $780.86 $140,369.13
77 $140,369.13 $1,483.60 $0.00 $793.67 $142,646.40
78 $142,646.40 $1,483.60 $0.00 $806.54 $144,936.54
79 $144,936.54 $1,483.60 $0.00 $819.49 $147,239.63
80 $147,239.63 $1,483.60 $0.00 $832.51 $149,555.74
81 $149,555.74 $1,483.60 $0.00 $845.61 $151,884.95
82 $151,884.95 $1,483.60 $0.00 $858.78 $154,227.33
83 $154,227.33 $1,483.60 $0.00 $872.02 $156,582.95
84 $156,582.95 $1,483.60 $0.00 $885.34 $158,951.89
85 $158,951.89 $1,483.60 $0.00 $898.74 $161,334.23
86 $161,334.23 $1,483.60 $0.00 $912.21 $163,730.04
87 $163,730.04 $1,483.60 $0.00 $925.75 $166,139.39
88 $166,139.39 $1,483.60 $0.00 $939.38 $168,562.37
89 $168,562.37 $1,483.60 $0.00 $953.08 $170,999.05
90 $170,999.05 $1,483.60 $0.00 $966.85 $173,449.50
91 $173,449.50 $1,483.60 $0.00 $980.71 $175,913.81
92 $175,913.81 $1,483.60 $0.00 $994.64 $178,392.05
93 $178,392.05 $1,483.60 $0.00 $1,008.65 $180,884.30
94 $180,884.30 $1,483.60 $0.00 $1,022.75 $183,390.65
95 $183,390.65 $1,483.60 $0.00 $1,036.92 $185,911.17
96 $185,911.17 $1,483.60 $0.00 $1,051.17 $188,445.94
97 $188,445.94 $1,483.60 $0.00 $1,065.50 $190,995.04
98 $190,995.04 $1,483.60 $0.00 $1,079.91 $193,558.55
99 $193,558.55 $1,483.60 $0.00 $1,094.41 $196,136.56
100 $196,136.56 $1,483.60 $0.00 $1,108.98 $198,729.14
101 $198,729.14 $1,483.60 $0.00 $1,123.64 $201,336.38
102 $201,336.38 $1,483.60 $0.00 $1,138.39 $203,958.37
103 $203,958.37 $1,483.60 $0.00 $1,153.21 $206,595.18
104 $206,595.18 $1,483.60 $0.00 $1,168.12 $209,246.90
105 $209,246.90 $1,483.60 $0.00 $1,183.11 $211,913.61
106 $211,913.61 $1,483.60 $0.00 $1,198.19 $214,595.40
107 $214,595.40 $1,483.60 $0.00 $1,213.35 $217,292.35
108 $217,292.35 $1,483.60 $0.00 $1,228.60 $220,004.55
109 $220,004.55 $1,483.60 $0.00 $1,243.94 $222,732.09
110 $222,732.09 $1,483.60 $0.00 $1,259.36 $225,475.05
111 $225,475.05 $1,483.60 $0.00 $1,274.87 $228,233.52
112 $228,233.52 $1,483.60 $0.00 $1,290.47 $231,007.59
113 $231,007.59 $1,483.60 $0.00 $1,306.15 $233,797.34
114 $233,797.34 $1,483.60 $0.00 $1,321.92 $236,602.86
115 $236,602.86 $1,483.60 $0.00 $1,337.79 $239,424.25
116 $239,424.25 $1,483.60 $0.00 $1,353.74 $242,261.59
117 $242,261.59 $1,483.60 $0.00 $1,369.78 $245,114.97
118 $245,114.97 $1,483.60 $0.00 $1,385.92 $247,984.49
119 $247,984.49 $1,483.60 $0.00 $1,402.14 $250,870.23
120 $250,870.23 $1,483.60 $0.00 $1,418.46 $253,772.29
121 $253,772.29 $1,483.60 $0.00 $1,434.87 $256,690.76
122 $256,690.76 $1,483.60 $0.00 $1,451.37 $259,625.73
123 $259,625.73 $1,483.60 $0.00 $1,467.96 $262,577.29
124 $262,577.29 $1,483.60 $0.00 $1,484.65 $265,545.54
125 $265,545.54 $1,483.60 $0.00 $1,501.43 $268,530.57
126 $268,530.57 $1,483.60 $0.00 $1,518.31 $271,532.48
127 $271,532.48 $1,483.60 $0.00 $1,535.28 $274,551.36
128 $274,551.36 $1,483.60 $0.00 $1,552.35 $277,587.31
129 $277,587.31 $1,483.60 $0.00 $1,569.52 $280,640.43
130 $280,640.43 $1,483.60 $0.00 $1,586.78 $283,710.81
131 $283,710.81 $1,483.60 $0.00 $1,604.14 $286,798.55
132 $286,798.55 $1,483.60 $0.00 $1,621.60 $289,903.75
133 $289,903.75 $1,483.60 $0.00 $1,639.16 $293,026.51
134 $293,026.51 $1,483.60 $0.00 $1,656.81 $296,166.92
135 $296,166.92 $1,483.60 $0.00 $1,674.57 $299,325.09
136 $299,325.09 $1,483.60 $0.00 $1,692.43 $302,501.12
137 $302,501.12 $1,483.60 $0.00 $1,710.39 $305,695.11
138 $305,695.11 $1,483.60 $0.00 $1,728.44 $308,907.15
139 $308,907.15 $1,483.60 $0.00 $1,746.61 $312,137.36
140 $312,137.36 $1,483.60 $0.00 $1,764.87 $315,385.83
141 $315,385.83 $1,483.60 $0.00 $1,783.24 $318,652.67
142 $318,652.67 $1,483.60 $0.00 $1,801.71 $321,937.98
143 $321,937.98 $1,483.60 $0.00 $1,820.28 $325,241.86
144 $325,241.86 $1,483.60 $0.00 $1,838.96 $328,564.42
145 $328,564.42 $1,483.60 $0.00 $1,857.75 $331,905.77
146 $331,905.77 $1,483.60 $0.00 $1,876.64 $335,266.01
147 $335,266.01 $1,483.60 $0.00 $1,895.64 $338,645.25
148 $338,645.25 $1,483.60 $0.00 $1,914.75 $342,043.60
149 $342,043.60 $1,483.60 $0.00 $1,933.96 $345,461.16
150 $345,461.16 $1,483.60 $0.00 $1,953.29 $348,898.05
151 $348,898.05 $1,483.60 $0.00 $1,972.72 $352,354.37
152 $352,354.37 $1,483.60 $0.00 $1,992.26 $355,830.23
153 $355,830.23 $1,483.60 $0.00 $2,011.92 $359,325.75
154 $359,325.75 $1,483.60 $0.00 $2,031.68 $362,841.03
155 $362,841.03 $1,483.60 $0.00 $2,051.56 $366,376.19
156 $366,376.19 $1,483.60 $0.00 $2,071.54 $369,931.33
157 $369,931.33 $1,483.60 $0.00 $2,091.65 $373,506.58
158 $373,506.58 $1,483.60 $0.00 $2,111.86 $377,102.04
159 $377,102.04 $1,483.60 $0.00 $2,132.19 $380,717.83
160 $380,717.83 $1,483.60 $0.00 $2,152.63 $384,354.06
161 $384,354.06 $1,483.60 $0.00 $2,173.19 $388,010.85
162 $388,010.85 $1,483.60 $0.00 $2,193.87 $391,688.32
163 $391,688.32 $1,483.60 $0.00 $2,214.66 $395,386.58
164 $395,386.58 $1,483.60 $0.00 $2,235.57 $399,105.75
165 $399,105.75 $1,483.60 $0.00 $2,256.60 $402,845.95
166 $402,845.95 $1,483.60 $0.00 $2,277.75 $406,607.30
167 $406,607.30 $1,483.60 $0.00 $2,299.02 $410,389.92
168 $410,389.92 $1,483.60 $0.00 $2,320.40 $414,193.92
169 $414,193.92 $1,483.60 $0.00 $2,341.91 $418,019.43
170 $418,019.43 $1,483.60 $0.00 $2,363.54 $421,866.57
171 $421,866.57 $1,483.60 $0.00 $2,385.29 $425,735.46
172 $425,735.46 $1,483.60 $0.00 $2,407.17 $429,626.23
173 $429,626.23 $1,483.60 $0.00 $2,429.17 $433,539.00
174 $433,539.00 $1,483.60 $0.00 $2,451.29 $437,473.89
175 $437,473.89 $1,483.60 $0.00 $2,473.54 $441,431.03
176 $441,431.03 $1,483.60 $0.00 $2,495.92 $445,410.55
177 $445,410.55 $1,483.60 $0.00 $2,518.42 $449,412.57
178 $449,412.57 $1,483.60 $0.00 $2,541.04 $453,437.21
179 $453,437.21 $1,483.60 $0.00 $2,563.80 $457,484.61
180 $457,484.61 $1,483.60 $0.00 $2,586.68 $461,554.89
181 $461,554.89 $1,483.60 $0.00 $2,609.70 $465,648.19
182 $465,648.19 $1,483.60 $0.00 $2,632.84 $469,764.63
183 $469,764.63 $1,483.60 $0.00 $2,656.12 $473,904.35
184 $473,904.35 $1,483.60 $0.00 $2,679.52 $478,067.47
185 $478,067.47 $1,483.60 $0.00 $2,703.06 $482,254.13
186 $482,254.13 $1,483.60 $0.00 $2,726.73 $486,464.46
187 $486,464.46 $1,483.60 $0.00 $2,750.54 $490,698.60
188 $490,698.60 $1,483.60 $0.00 $2,774.48 $494,956.68
189 $494,956.68 $1,483.60 $0.00 $2,798.56 $499,238.84
190 $499,238.84 $1,483.60 $0.00 $2,822.77 $503,545.21
191 $503,545.21 $1,483.60 $0.00 $2,847.12 $507,875.93
192 $507,875.93 $1,483.60 $0.00 $2,871.60 $512,231.13
193 $512,231.13 $1,483.60 $0.00 $2,896.23 $516,610.96
194 $516,610.96 $1,483.60 $0.00 $2,920.99 $521,015.55
195 $521,015.55 $1,483.60 $0.00 $2,945.90 $525,445.05
196 $525,445.05 $1,483.60 $0.00 $2,970.94 $529,899.59
197 $529,899.59 $1,483.60 $0.00 $2,996.13 $534,379.32
198 $534,379.32 $1,483.60 $0.00 $3,021.46 $538,884.38
199 $538,884.38 $1,483.60 $0.00 $3,046.93 $543,414.91
200 $543,414.91 $1,483.60 $0.00 $3,072.55 $547,971.06
201 $547,971.06 $1,483.60 $0.00 $3,098.31 $552,552.97
202 $552,552.97 $1,483.60 $0.00 $3,124.21 $557,160.78
203 $557,160.78 $1,483.60 $0.00 $3,150.27 $561,794.65
204 $561,794.65 $1,483.60 $0.00 $3,176.47 $566,454.72
205 $566,454.72 $1,483.60 $0.00 $3,202.82 $571,141.14
206 $571,141.14 $1,483.60 $0.00 $3,229.32 $575,854.06
207 $575,854.06 $1,483.60 $0.00 $3,255.96 $580,593.62
208 $580,593.62 $1,483.60 $0.00 $3,282.76 $585,359.98
209 $585,359.98 $1,483.60 $0.00 $3,309.71 $590,153.29
210 $590,153.29 $1,483.60 $0.00 $3,336.81 $594,973.70
211 $594,973.70 $1,483.60 $0.00 $3,364.07 $599,821.37
212 $599,821.37 $1,483.60 $0.00 $3,391.48 $604,696.45
213 $604,696.45 $1,483.60 $0.00 $3,419.04 $609,599.09
214 $609,599.09 $1,483.60 $0.00 $3,446.76 $614,529.45
215 $614,529.45 $1,483.60 $0.00 $3,474.64 $619,487.69
216 $619,487.69 $1,483.60 $0.00 $3,502.67 $624,473.96
217 $624,473.96 $1,483.60 $169,118.29 $3,530.87 $460,370.14
218 $460,370.14 $1,483.60 $0.00 $2,603.00 $464,456.74
219 $464,456.74 $1,483.60 $0.00 $2,626.11 $468,566.45
220 $468,566.45 $1,483.60 $0.00 $2,649.34 $472,699.39
221 $472,699.39 $1,483.60 $0.00 $2,672.71 $476,855.70
222 $476,855.70 $1,483.60 $0.00 $2,696.21 $481,035.51
223 $481,035.51 $1,483.60 $0.00 $2,719.84 $485,238.95
224 $485,238.95 $1,483.60 $0.00 $2,743.61 $489,466.16
225 $489,466.16 $1,483.60 $0.00 $2,767.51 $493,717.27
226 $493,717.27 $1,483.60 $0.00 $2,791.55 $497,992.42
227 $497,992.42 $1,483.60 $0.00 $2,815.72 $502,291.74
228 $502,291.74 $1,483.60 $0.00 $2,840.03 $506,615.37
229 $506,615.37 $1,483.60 $180,956.57 $2,864.48 $330,006.88
230 $330,006.88 $1,483.60 $0.00 $1,865.91 $333,356.39
231 $333,356.39 $1,483.60 $0.00 $1,884.85 $336,724.84
232 $336,724.84 $1,483.60 $0.00 $1,903.89 $340,112.33
233 $340,112.33 $1,483.60 $0.00 $1,923.04 $343,518.97
234 $343,518.97 $1,483.60 $0.00 $1,942.31 $346,944.88
235 $346,944.88 $1,483.60 $0.00 $1,961.68 $350,390.16
236 $350,390.16 $1,483.60 $0.00 $1,981.16 $353,854.92
237 $353,854.92 $1,483.60 $0.00 $2,000.75 $357,339.27
238 $357,339.27 $1,483.60 $0.00 $2,020.45 $360,843.32
239 $360,843.32 $1,483.60 $0.00 $2,040.26 $364,367.18
240 $364,367.18 $1,483.60 $0.00 $2,060.19 $367,910.97
241 $367,910.97 $1,483.60 $193,623.53 $2,080.22 $177,851.26
242 $177,851.26 $1,483.60 $0.00 $1,005.60 $180,340.46
243 $180,340.46 $1,483.60 $0.00 $1,019.67 $182,843.73
244 $182,843.73 $1,483.60 $0.00 $1,033.83 $185,361.16
245 $185,361.16 $1,483.60 $0.00 $1,048.06 $187,892.82
246 $187,892.82 $1,483.60 $0.00 $1,062.37 $190,438.79
247 $190,438.79 $1,483.60 $0.00 $1,076.77 $192,999.16
248 $192,999.16 $1,483.60 $0.00 $1,091.25 $195,574.01
249 $195,574.01 $1,483.60 $0.00 $1,105.80 $198,163.41
250 $198,163.41 $1,483.60 $0.00 $1,120.44 $200,767.45
251 $200,767.45 $1,483.60 $0.00 $1,135.17 $203,386.22
252 $203,386.22 $1,483.60 $0.00 $1,149.98 $206,019.80
253 $206,019.80 $0.00 $207,177.18 $1,164.87 $7.49