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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$196,397
Monthly savings required$1,555

How much will it cost to send your child to University of Chicago in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $785,586.26 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,554.64 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$75,735.00
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 $1,554.64 $0.00 $0.00 $1,554.64
2 $1,554.64 $1,554.64 $0.00 $8.79 $3,118.07
3 $3,118.07 $1,554.64 $0.00 $17.63 $4,690.34
4 $4,690.34 $1,554.64 $0.00 $26.52 $6,271.50
5 $6,271.50 $1,554.64 $0.00 $35.46 $7,861.60
6 $7,861.60 $1,554.64 $0.00 $44.45 $9,460.69
7 $9,460.69 $1,554.64 $0.00 $53.49 $11,068.82
8 $11,068.82 $1,554.64 $0.00 $62.58 $12,686.04
9 $12,686.04 $1,554.64 $0.00 $71.73 $14,312.41
10 $14,312.41 $1,554.64 $0.00 $80.92 $15,947.97
11 $15,947.97 $1,554.64 $0.00 $90.17 $17,592.78
12 $17,592.78 $1,554.64 $0.00 $99.47 $19,246.89
13 $19,246.89 $1,554.64 $0.00 $108.82 $20,910.35
14 $20,910.35 $1,554.64 $0.00 $118.23 $22,583.22
15 $22,583.22 $1,554.64 $0.00 $127.69 $24,265.55
16 $24,265.55 $1,554.64 $0.00 $137.20 $25,957.39
17 $25,957.39 $1,554.64 $0.00 $146.77 $27,658.80
18 $27,658.80 $1,554.64 $0.00 $156.39 $29,369.83
19 $29,369.83 $1,554.64 $0.00 $166.06 $31,090.53
20 $31,090.53 $1,554.64 $0.00 $175.79 $32,820.96
21 $32,820.96 $1,554.64 $0.00 $185.57 $34,561.17
22 $34,561.17 $1,554.64 $0.00 $195.41 $36,311.22
23 $36,311.22 $1,554.64 $0.00 $205.31 $38,071.17
24 $38,071.17 $1,554.64 $0.00 $215.26 $39,841.07
25 $39,841.07 $1,554.64 $0.00 $225.27 $41,620.98
26 $41,620.98 $1,554.64 $0.00 $235.33 $43,410.95
27 $43,410.95 $1,554.64 $0.00 $245.45 $45,211.04
28 $45,211.04 $1,554.64 $0.00 $255.63 $47,021.31
29 $47,021.31 $1,554.64 $0.00 $265.87 $48,841.82
30 $48,841.82 $1,554.64 $0.00 $276.16 $50,672.62
31 $50,672.62 $1,554.64 $0.00 $286.51 $52,513.77
32 $52,513.77 $1,554.64 $0.00 $296.92 $54,365.33
33 $54,365.33 $1,554.64 $0.00 $307.39 $56,227.36
34 $56,227.36 $1,554.64 $0.00 $317.92 $58,099.92
35 $58,099.92 $1,554.64 $0.00 $328.51 $59,983.07
36 $59,983.07 $1,554.64 $0.00 $339.15 $61,876.86
37 $61,876.86 $1,554.64 $0.00 $349.86 $63,781.36
38 $63,781.36 $1,554.64 $0.00 $360.63 $65,696.63
39 $65,696.63 $1,554.64 $0.00 $371.46 $67,622.73
40 $67,622.73 $1,554.64 $0.00 $382.35 $69,559.72
41 $69,559.72 $1,554.64 $0.00 $393.30 $71,507.66
42 $71,507.66 $1,554.64 $0.00 $404.31 $73,466.61
43 $73,466.61 $1,554.64 $0.00 $415.39 $75,436.64
44 $75,436.64 $1,554.64 $0.00 $426.53 $77,417.81
45 $77,417.81 $1,554.64 $0.00 $437.73 $79,410.18
46 $79,410.18 $1,554.64 $0.00 $449.00 $81,413.82
47 $81,413.82 $1,554.64 $0.00 $460.33 $83,428.79
48 $83,428.79 $1,554.64 $0.00 $471.72 $85,455.15
49 $85,455.15 $1,554.64 $0.00 $483.18 $87,492.97
50 $87,492.97 $1,554.64 $0.00 $494.70 $89,542.31
51 $89,542.31 $1,554.64 $0.00 $506.29 $91,603.24
52 $91,603.24 $1,554.64 $0.00 $517.94 $93,675.82
53 $93,675.82 $1,554.64 $0.00 $529.66 $95,760.12
54 $95,760.12 $1,554.64 $0.00 $541.44 $97,856.20
55 $97,856.20 $1,554.64 $0.00 $553.29 $99,964.13
56 $99,964.13 $1,554.64 $0.00 $565.21 $102,083.98
57 $102,083.98 $1,554.64 $0.00 $577.20 $104,215.82
58 $104,215.82 $1,554.64 $0.00 $589.25 $106,359.71
59 $106,359.71 $1,554.64 $0.00 $601.37 $108,515.72
60 $108,515.72 $1,554.64 $0.00 $613.56 $110,683.92
61 $110,683.92 $1,554.64 $0.00 $625.82 $112,864.38
62 $112,864.38 $1,554.64 $0.00 $638.15 $115,057.17
63 $115,057.17 $1,554.64 $0.00 $650.55 $117,262.36
64 $117,262.36 $1,554.64 $0.00 $663.02 $119,480.02
65 $119,480.02 $1,554.64 $0.00 $675.56 $121,710.22
66 $121,710.22 $1,554.64 $0.00 $688.17 $123,953.03
67 $123,953.03 $1,554.64 $0.00 $700.85 $126,208.52
68 $126,208.52 $1,554.64 $0.00 $713.60 $128,476.76
69 $128,476.76 $1,554.64 $0.00 $726.43 $130,757.83
70 $130,757.83 $1,554.64 $0.00 $739.32 $133,051.79
71 $133,051.79 $1,554.64 $0.00 $752.29 $135,358.72
72 $135,358.72 $1,554.64 $0.00 $765.34 $137,678.70
73 $137,678.70 $1,554.64 $0.00 $778.46 $140,011.80
74 $140,011.80 $1,554.64 $0.00 $791.65 $142,358.09
75 $142,358.09 $1,554.64 $0.00 $804.91 $144,717.64
76 $144,717.64 $1,554.64 $0.00 $818.25 $147,090.53
77 $147,090.53 $1,554.64 $0.00 $831.67 $149,476.84
78 $149,476.84 $1,554.64 $0.00 $845.16 $151,876.64
79 $151,876.64 $1,554.64 $0.00 $858.73 $154,290.01
80 $154,290.01 $1,554.64 $0.00 $872.38 $156,717.03
81 $156,717.03 $1,554.64 $0.00 $886.10 $159,157.77
82 $159,157.77 $1,554.64 $0.00 $899.90 $161,612.31
83 $161,612.31 $1,554.64 $0.00 $913.78 $164,080.73
84 $164,080.73 $1,554.64 $0.00 $927.74 $166,563.11
85 $166,563.11 $1,554.64 $0.00 $941.77 $169,059.52
86 $169,059.52 $1,554.64 $0.00 $955.89 $171,570.05
87 $171,570.05 $1,554.64 $0.00 $970.08 $174,094.77
88 $174,094.77 $1,554.64 $0.00 $984.36 $176,633.77
89 $176,633.77 $1,554.64 $0.00 $998.71 $179,187.12
90 $179,187.12 $1,554.64 $0.00 $1,013.15 $181,754.91
91 $181,754.91 $1,554.64 $0.00 $1,027.67 $184,337.22
92 $184,337.22 $1,554.64 $0.00 $1,042.27 $186,934.13
93 $186,934.13 $1,554.64 $0.00 $1,056.95 $189,545.72
94 $189,545.72 $1,554.64 $0.00 $1,071.72 $192,172.08
95 $192,172.08 $1,554.64 $0.00 $1,086.57 $194,813.29
96 $194,813.29 $1,554.64 $0.00 $1,101.50 $197,469.43
97 $197,469.43 $1,554.64 $0.00 $1,116.52 $200,140.59
98 $200,140.59 $1,554.64 $0.00 $1,131.62 $202,826.85
99 $202,826.85 $1,554.64 $0.00 $1,146.81 $205,528.30
100 $205,528.30 $1,554.64 $0.00 $1,162.09 $208,245.03
101 $208,245.03 $1,554.64 $0.00 $1,177.45 $210,977.12
102 $210,977.12 $1,554.64 $0.00 $1,192.90 $213,724.66
103 $213,724.66 $1,554.64 $0.00 $1,208.43 $216,487.73
104 $216,487.73 $1,554.64 $0.00 $1,224.05 $219,266.42
105 $219,266.42 $1,554.64 $0.00 $1,239.76 $222,060.82
106 $222,060.82 $1,554.64 $0.00 $1,255.56 $224,871.02
107 $224,871.02 $1,554.64 $0.00 $1,271.45 $227,697.11
108 $227,697.11 $1,554.64 $0.00 $1,287.43 $230,539.18
109 $230,539.18 $1,554.64 $0.00 $1,303.50 $233,397.32
110 $233,397.32 $1,554.64 $0.00 $1,319.66 $236,271.62
111 $236,271.62 $1,554.64 $0.00 $1,335.91 $239,162.17
112 $239,162.17 $1,554.64 $0.00 $1,352.26 $242,069.07
113 $242,069.07 $1,554.64 $0.00 $1,368.69 $244,992.40
114 $244,992.40 $1,554.64 $0.00 $1,385.22 $247,932.26
115 $247,932.26 $1,554.64 $0.00 $1,401.85 $250,888.75
116 $250,888.75 $1,554.64 $0.00 $1,418.56 $253,861.95
117 $253,861.95 $1,554.64 $0.00 $1,435.37 $256,851.96
118 $256,851.96 $1,554.64 $0.00 $1,452.28 $259,858.88
119 $259,858.88 $1,554.64 $0.00 $1,469.28 $262,882.80
120 $262,882.80 $1,554.64 $0.00 $1,486.38 $265,923.82
121 $265,923.82 $1,554.64 $0.00 $1,503.57 $268,982.03
122 $268,982.03 $1,554.64 $0.00 $1,520.86 $272,057.53
123 $272,057.53 $1,554.64 $0.00 $1,538.25 $275,150.42
124 $275,150.42 $1,554.64 $0.00 $1,555.74 $278,260.80
125 $278,260.80 $1,554.64 $0.00 $1,573.33 $281,388.77
126 $281,388.77 $1,554.64 $0.00 $1,591.01 $284,534.42
127 $284,534.42 $1,554.64 $0.00 $1,608.80 $287,697.86
128 $287,697.86 $1,554.64 $0.00 $1,626.69 $290,879.19
129 $290,879.19 $1,554.64 $0.00 $1,644.67 $294,078.50
130 $294,078.50 $1,554.64 $0.00 $1,662.76 $297,295.90
131 $297,295.90 $1,554.64 $0.00 $1,680.95 $300,531.49
132 $300,531.49 $1,554.64 $0.00 $1,699.25 $303,785.38
133 $303,785.38 $1,554.64 $0.00 $1,717.65 $307,057.67
134 $307,057.67 $1,554.64 $0.00 $1,736.15 $310,348.46
135 $310,348.46 $1,554.64 $0.00 $1,754.76 $313,657.86
136 $313,657.86 $1,554.64 $0.00 $1,773.47 $316,985.97
137 $316,985.97 $1,554.64 $0.00 $1,792.28 $320,332.89
138 $320,332.89 $1,554.64 $0.00 $1,811.21 $323,698.74
139 $323,698.74 $1,554.64 $0.00 $1,830.24 $327,083.62
140 $327,083.62 $1,554.64 $0.00 $1,849.38 $330,487.64
141 $330,487.64 $1,554.64 $0.00 $1,868.63 $333,910.91
142 $333,910.91 $1,554.64 $0.00 $1,887.98 $337,353.53
143 $337,353.53 $1,554.64 $0.00 $1,907.45 $340,815.62
144 $340,815.62 $1,554.64 $0.00 $1,927.02 $344,297.28
145 $344,297.28 $1,554.64 $0.00 $1,946.71 $347,798.63
146 $347,798.63 $1,554.64 $0.00 $1,966.50 $351,319.77
147 $351,319.77 $1,554.64 $0.00 $1,986.41 $354,860.82
148 $354,860.82 $1,554.64 $0.00 $2,006.43 $358,421.89
149 $358,421.89 $1,554.64 $0.00 $2,026.57 $362,003.10
150 $362,003.10 $1,554.64 $0.00 $2,046.82 $365,604.56
151 $365,604.56 $1,554.64 $0.00 $2,067.18 $369,226.38
152 $369,226.38 $1,554.64 $0.00 $2,087.66 $372,868.68
153 $372,868.68 $1,554.64 $0.00 $2,108.25 $376,531.57
154 $376,531.57 $1,554.64 $0.00 $2,128.96 $380,215.17
155 $380,215.17 $1,554.64 $0.00 $2,149.79 $383,919.60
156 $383,919.60 $1,554.64 $0.00 $2,170.74 $387,644.98
157 $387,644.98 $1,554.64 $0.00 $2,191.80 $391,391.42
158 $391,391.42 $1,554.64 $0.00 $2,212.98 $395,159.04
159 $395,159.04 $1,554.64 $0.00 $2,234.29 $398,947.97
160 $398,947.97 $1,554.64 $0.00 $2,255.71 $402,758.32
161 $402,758.32 $1,554.64 $0.00 $2,277.25 $406,590.21
162 $406,590.21 $1,554.64 $0.00 $2,298.92 $410,443.77
163 $410,443.77 $1,554.64 $0.00 $2,320.71 $414,319.12
164 $414,319.12 $1,554.64 $0.00 $2,342.62 $418,216.38
165 $418,216.38 $1,554.64 $0.00 $2,364.66 $422,135.68
166 $422,135.68 $1,554.64 $0.00 $2,386.82 $426,077.14
167 $426,077.14 $1,554.64 $0.00 $2,409.10 $430,040.88
168 $430,040.88 $1,554.64 $0.00 $2,431.51 $434,027.03
169 $434,027.03 $1,554.64 $0.00 $2,454.05 $438,035.72
170 $438,035.72 $1,554.64 $0.00 $2,476.72 $442,067.08
171 $442,067.08 $1,554.64 $0.00 $2,499.51 $446,121.23
172 $446,121.23 $1,554.64 $0.00 $2,522.43 $450,198.30
173 $450,198.30 $1,554.64 $0.00 $2,545.49 $454,298.43
174 $454,298.43 $1,554.64 $0.00 $2,568.67 $458,421.74
175 $458,421.74 $1,554.64 $0.00 $2,591.98 $462,568.36
176 $462,568.36 $1,554.64 $0.00 $2,615.43 $466,738.43
177 $466,738.43 $1,554.64 $0.00 $2,639.01 $470,932.08
178 $470,932.08 $1,554.64 $0.00 $2,662.72 $475,149.44
179 $475,149.44 $1,554.64 $0.00 $2,686.56 $479,390.64
180 $479,390.64 $1,554.64 $0.00 $2,710.54 $483,655.82
181 $483,655.82 $1,554.64 $0.00 $2,734.66 $487,945.12
182 $487,945.12 $1,554.64 $0.00 $2,758.91 $492,258.67
183 $492,258.67 $1,554.64 $0.00 $2,783.30 $496,596.61
184 $496,596.61 $1,554.64 $0.00 $2,807.83 $500,959.08
185 $500,959.08 $1,554.64 $0.00 $2,832.50 $505,346.22
186 $505,346.22 $1,554.64 $0.00 $2,857.30 $509,758.16
187 $509,758.16 $1,554.64 $0.00 $2,882.25 $514,195.05
188 $514,195.05 $1,554.64 $0.00 $2,907.33 $518,657.02
189 $518,657.02 $1,554.64 $0.00 $2,932.56 $523,144.22
190 $523,144.22 $1,554.64 $0.00 $2,957.93 $527,656.79
191 $527,656.79 $1,554.64 $0.00 $2,983.45 $532,194.88
192 $532,194.88 $1,554.64 $0.00 $3,009.11 $536,758.63
193 $536,758.63 $1,554.64 $0.00 $3,034.91 $541,348.18
194 $541,348.18 $1,554.64 $0.00 $3,060.86 $545,963.68
195 $545,963.68 $1,554.64 $0.00 $3,086.96 $550,605.28
196 $550,605.28 $1,554.64 $0.00 $3,113.20 $555,273.12
197 $555,273.12 $1,554.64 $0.00 $3,139.59 $559,967.35
198 $559,967.35 $1,554.64 $0.00 $3,166.14 $564,688.13
199 $564,688.13 $1,554.64 $0.00 $3,192.83 $569,435.60
200 $569,435.60 $1,554.64 $0.00 $3,219.67 $574,209.91
201 $574,209.91 $1,554.64 $0.00 $3,246.67 $579,011.22
202 $579,011.22 $1,554.64 $0.00 $3,273.81 $583,839.67
203 $583,839.67 $1,554.64 $0.00 $3,301.11 $588,695.42
204 $588,695.42 $1,554.64 $0.00 $3,328.57 $593,578.63
205 $593,578.63 $1,554.64 $0.00 $3,356.18 $598,489.45
206 $598,489.45 $1,554.64 $0.00 $3,383.95 $603,428.04
207 $603,428.04 $1,554.64 $0.00 $3,411.87 $608,394.55
208 $608,394.55 $1,554.64 $0.00 $3,439.95 $613,389.14
209 $613,389.14 $1,554.64 $0.00 $3,468.19 $618,411.97
210 $618,411.97 $1,554.64 $0.00 $3,496.59 $623,463.20
211 $623,463.20 $1,554.64 $0.00 $3,525.15 $628,542.99
212 $628,542.99 $1,554.64 $0.00 $3,553.87 $633,651.50
213 $633,651.50 $1,554.64 $0.00 $3,582.76 $638,788.90
214 $638,788.90 $1,554.64 $0.00 $3,611.81 $643,955.35
215 $643,955.35 $1,554.64 $0.00 $3,641.02 $649,151.01
216 $649,151.01 $1,554.64 $0.00 $3,670.39 $654,376.04
217 $654,376.04 $1,554.64 $182,265.31 $3,699.94 $477,365.31
218 $477,365.31 $1,554.64 $0.00 $2,699.09 $481,619.04
219 $481,619.04 $1,554.64 $0.00 $2,723.14 $485,896.82
220 $485,896.82 $1,554.64 $0.00 $2,747.33 $490,198.79
221 $490,198.79 $1,554.64 $0.00 $2,771.66 $494,525.09
222 $494,525.09 $1,554.64 $0.00 $2,796.12 $498,875.85
223 $498,875.85 $1,554.64 $0.00 $2,820.72 $503,251.21
224 $503,251.21 $1,554.64 $0.00 $2,845.46 $507,651.31
225 $507,651.31 $1,554.64 $0.00 $2,870.33 $512,076.28
226 $512,076.28 $1,554.64 $0.00 $2,895.35 $516,526.27
227 $516,526.27 $1,554.64 $0.00 $2,920.51 $521,001.42
228 $521,001.42 $1,554.64 $0.00 $2,945.82 $525,501.88
229 $525,501.88 $1,554.64 $191,378.57 $2,971.26 $338,649.21
230 $338,649.21 $1,554.64 $0.00 $1,914.77 $342,118.62
231 $342,118.62 $1,554.64 $0.00 $1,934.39 $345,607.65
232 $345,607.65 $1,554.64 $0.00 $1,954.12 $349,116.41
233 $349,116.41 $1,554.64 $0.00 $1,973.95 $352,645.00
234 $352,645.00 $1,554.64 $0.00 $1,993.91 $356,193.55
235 $356,193.55 $1,554.64 $0.00 $2,013.97 $359,762.16
236 $359,762.16 $1,554.64 $0.00 $2,034.15 $363,350.95
237 $363,350.95 $1,554.64 $0.00 $2,054.44 $366,960.03
238 $366,960.03 $1,554.64 $0.00 $2,074.85 $370,589.52
239 $370,589.52 $1,554.64 $0.00 $2,095.37 $374,239.53
240 $374,239.53 $1,554.64 $0.00 $2,116.00 $377,910.17
241 $377,910.17 $1,554.64 $200,947.50 $2,136.76 $180,654.07
242 $180,654.07 $1,554.64 $0.00 $1,021.44 $183,230.15
243 $183,230.15 $1,554.64 $0.00 $1,036.01 $185,820.80
244 $185,820.80 $1,554.64 $0.00 $1,050.66 $188,426.10
245 $188,426.10 $1,554.64 $0.00 $1,065.39 $191,046.13
246 $191,046.13 $1,554.64 $0.00 $1,080.20 $193,680.97
247 $193,680.97 $1,554.64 $0.00 $1,095.10 $196,330.71
248 $196,330.71 $1,554.64 $0.00 $1,110.08 $198,995.43
249 $198,995.43 $1,554.64 $0.00 $1,125.15 $201,675.22
250 $201,675.22 $1,554.64 $0.00 $1,140.30 $204,370.16
251 $204,370.16 $1,554.64 $0.00 $1,155.54 $207,080.34
252 $207,080.34 $1,554.64 $0.00 $1,170.86 $209,805.84
253 $209,805.84 $0.00 $210,994.88 $1,186.27 ($2.77)