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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$64,415
Monthly savings required$510

How much will it cost to send your child to Brown Mackie College South Bend in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $257,661.09 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $509.91 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$24,840.00
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 $509.91 $0.00 $0.00 $509.91
2 $509.91 $509.91 $0.00 $2.88 $1,022.70
3 $1,022.70 $509.91 $0.00 $5.78 $1,538.39
4 $1,538.39 $509.91 $0.00 $8.70 $2,057.00
5 $2,057.00 $509.91 $0.00 $11.63 $2,578.54
6 $2,578.54 $509.91 $0.00 $14.58 $3,103.03
7 $3,103.03 $509.91 $0.00 $17.54 $3,630.48
8 $3,630.48 $509.91 $0.00 $20.53 $4,160.92
9 $4,160.92 $509.91 $0.00 $23.53 $4,694.36
10 $4,694.36 $509.91 $0.00 $26.54 $5,230.81
11 $5,230.81 $509.91 $0.00 $29.58 $5,770.30
12 $5,770.30 $509.91 $0.00 $32.63 $6,312.84
13 $6,312.84 $509.91 $0.00 $35.69 $6,858.44
14 $6,858.44 $509.91 $0.00 $38.78 $7,407.13
15 $7,407.13 $509.91 $0.00 $41.88 $7,958.92
16 $7,958.92 $509.91 $0.00 $45.00 $8,513.83
17 $8,513.83 $509.91 $0.00 $48.14 $9,071.88
18 $9,071.88 $509.91 $0.00 $51.29 $9,633.08
19 $9,633.08 $509.91 $0.00 $54.47 $10,197.46
20 $10,197.46 $509.91 $0.00 $57.66 $10,765.03
21 $10,765.03 $509.91 $0.00 $60.87 $11,335.81
22 $11,335.81 $509.91 $0.00 $64.09 $11,909.81
23 $11,909.81 $509.91 $0.00 $67.34 $12,487.06
24 $12,487.06 $509.91 $0.00 $70.60 $13,067.57
25 $13,067.57 $509.91 $0.00 $73.89 $13,651.37
26 $13,651.37 $509.91 $0.00 $77.19 $14,238.47
27 $14,238.47 $509.91 $0.00 $80.51 $14,828.89
28 $14,828.89 $509.91 $0.00 $83.84 $15,422.64
29 $15,422.64 $509.91 $0.00 $87.20 $16,019.75
30 $16,019.75 $509.91 $0.00 $90.58 $16,620.24
31 $16,620.24 $509.91 $0.00 $93.97 $17,224.12
32 $17,224.12 $509.91 $0.00 $97.39 $17,831.42
33 $17,831.42 $509.91 $0.00 $100.82 $18,442.15
34 $18,442.15 $509.91 $0.00 $104.27 $19,056.33
35 $19,056.33 $509.91 $0.00 $107.75 $19,673.99
36 $19,673.99 $509.91 $0.00 $111.24 $20,295.14
37 $20,295.14 $509.91 $0.00 $114.75 $20,919.80
38 $20,919.80 $509.91 $0.00 $118.28 $21,547.99
39 $21,547.99 $509.91 $0.00 $121.84 $22,179.74
40 $22,179.74 $509.91 $0.00 $125.41 $22,815.06
41 $22,815.06 $509.91 $0.00 $129.00 $23,453.97
42 $23,453.97 $509.91 $0.00 $132.61 $24,096.49
43 $24,096.49 $509.91 $0.00 $136.25 $24,742.65
44 $24,742.65 $509.91 $0.00 $139.90 $25,392.46
45 $25,392.46 $509.91 $0.00 $143.57 $26,045.94
46 $26,045.94 $509.91 $0.00 $147.27 $26,703.12
47 $26,703.12 $509.91 $0.00 $150.98 $27,364.01
48 $27,364.01 $509.91 $0.00 $154.72 $28,028.64
49 $28,028.64 $509.91 $0.00 $158.48 $28,697.03
50 $28,697.03 $509.91 $0.00 $162.26 $29,369.20
51 $29,369.20 $509.91 $0.00 $166.06 $30,045.17
52 $30,045.17 $509.91 $0.00 $169.88 $30,724.96
53 $30,724.96 $509.91 $0.00 $173.72 $31,408.59
54 $31,408.59 $509.91 $0.00 $177.59 $32,096.09
55 $32,096.09 $509.91 $0.00 $181.48 $32,787.48
56 $32,787.48 $509.91 $0.00 $185.39 $33,482.78
57 $33,482.78 $509.91 $0.00 $189.32 $34,182.01
58 $34,182.01 $509.91 $0.00 $193.27 $34,885.19
59 $34,885.19 $509.91 $0.00 $197.25 $35,592.35
60 $35,592.35 $509.91 $0.00 $201.24 $36,303.50
61 $36,303.50 $509.91 $0.00 $205.27 $37,018.68
62 $37,018.68 $509.91 $0.00 $209.31 $37,737.90
63 $37,737.90 $509.91 $0.00 $213.38 $38,461.19
64 $38,461.19 $509.91 $0.00 $217.47 $39,188.57
65 $39,188.57 $509.91 $0.00 $221.58 $39,920.06
66 $39,920.06 $509.91 $0.00 $225.71 $40,655.68
67 $40,655.68 $509.91 $0.00 $229.87 $41,395.46
68 $41,395.46 $509.91 $0.00 $234.06 $42,139.43
69 $42,139.43 $509.91 $0.00 $238.26 $42,887.60
70 $42,887.60 $509.91 $0.00 $242.49 $43,640.00
71 $43,640.00 $509.91 $0.00 $246.75 $44,396.66
72 $44,396.66 $509.91 $0.00 $251.03 $45,157.60
73 $45,157.60 $509.91 $0.00 $255.33 $45,922.84
74 $45,922.84 $509.91 $0.00 $259.65 $46,692.40
75 $46,692.40 $509.91 $0.00 $264.01 $47,466.32
76 $47,466.32 $509.91 $0.00 $268.38 $48,244.61
77 $48,244.61 $509.91 $0.00 $272.78 $49,027.30
78 $49,027.30 $509.91 $0.00 $277.21 $49,814.42
79 $49,814.42 $509.91 $0.00 $281.66 $50,605.99
80 $50,605.99 $509.91 $0.00 $286.13 $51,402.03
81 $51,402.03 $509.91 $0.00 $290.63 $52,202.57
82 $52,202.57 $509.91 $0.00 $295.16 $53,007.64
83 $53,007.64 $509.91 $0.00 $299.71 $53,817.26
84 $53,817.26 $509.91 $0.00 $304.29 $54,631.46
85 $54,631.46 $509.91 $0.00 $308.89 $55,450.26
86 $55,450.26 $509.91 $0.00 $313.52 $56,273.69
87 $56,273.69 $509.91 $0.00 $318.18 $57,101.78
88 $57,101.78 $509.91 $0.00 $322.86 $57,934.55
89 $57,934.55 $509.91 $0.00 $327.57 $58,772.03
90 $58,772.03 $509.91 $0.00 $332.31 $59,614.25
91 $59,614.25 $509.91 $0.00 $337.07 $60,461.23
92 $60,461.23 $509.91 $0.00 $341.86 $61,313.00
93 $61,313.00 $509.91 $0.00 $346.67 $62,169.58
94 $62,169.58 $509.91 $0.00 $351.52 $63,031.01
95 $63,031.01 $509.91 $0.00 $356.39 $63,897.31
96 $63,897.31 $509.91 $0.00 $361.28 $64,768.50
97 $64,768.50 $509.91 $0.00 $366.21 $65,644.62
98 $65,644.62 $509.91 $0.00 $371.16 $66,525.69
99 $66,525.69 $509.91 $0.00 $376.15 $67,411.75
100 $67,411.75 $509.91 $0.00 $381.16 $68,302.82
101 $68,302.82 $509.91 $0.00 $386.19 $69,198.92
102 $69,198.92 $509.91 $0.00 $391.26 $70,100.09
103 $70,100.09 $509.91 $0.00 $396.36 $71,006.36
104 $71,006.36 $509.91 $0.00 $401.48 $71,917.75
105 $71,917.75 $509.91 $0.00 $406.63 $72,834.29
106 $72,834.29 $509.91 $0.00 $411.82 $73,756.02
107 $73,756.02 $509.91 $0.00 $417.03 $74,682.96
108 $74,682.96 $509.91 $0.00 $422.27 $75,615.14
109 $75,615.14 $509.91 $0.00 $427.54 $76,552.59
110 $76,552.59 $509.91 $0.00 $432.84 $77,495.34
111 $77,495.34 $509.91 $0.00 $438.17 $78,443.42
112 $78,443.42 $509.91 $0.00 $443.53 $79,396.86
113 $79,396.86 $509.91 $0.00 $448.92 $80,355.69
114 $80,355.69 $509.91 $0.00 $454.34 $81,319.94
115 $81,319.94 $509.91 $0.00 $459.79 $82,289.64
116 $82,289.64 $509.91 $0.00 $465.28 $83,264.83
117 $83,264.83 $509.91 $0.00 $470.79 $84,245.53
118 $84,245.53 $509.91 $0.00 $476.34 $85,231.78
119 $85,231.78 $509.91 $0.00 $481.91 $86,223.60
120 $86,223.60 $509.91 $0.00 $487.52 $87,221.03
121 $87,221.03 $509.91 $0.00 $493.16 $88,224.10
122 $88,224.10 $509.91 $0.00 $498.83 $89,232.84
123 $89,232.84 $509.91 $0.00 $504.54 $90,247.29
124 $90,247.29 $509.91 $0.00 $510.27 $91,267.47
125 $91,267.47 $509.91 $0.00 $516.04 $92,293.42
126 $92,293.42 $509.91 $0.00 $521.84 $93,325.17
127 $93,325.17 $509.91 $0.00 $527.67 $94,362.75
128 $94,362.75 $509.91 $0.00 $533.54 $95,406.20
129 $95,406.20 $509.91 $0.00 $539.44 $96,455.55
130 $96,455.55 $509.91 $0.00 $545.37 $97,510.83
131 $97,510.83 $509.91 $0.00 $551.34 $98,572.08
132 $98,572.08 $509.91 $0.00 $557.34 $99,639.33
133 $99,639.33 $509.91 $0.00 $563.38 $100,712.62
134 $100,712.62 $509.91 $0.00 $569.44 $101,791.97
135 $101,791.97 $509.91 $0.00 $575.55 $102,877.43
136 $102,877.43 $509.91 $0.00 $581.68 $103,969.02
137 $103,969.02 $509.91 $0.00 $587.86 $105,066.79
138 $105,066.79 $509.91 $0.00 $594.06 $106,170.76
139 $106,170.76 $509.91 $0.00 $600.30 $107,280.97
140 $107,280.97 $509.91 $0.00 $606.58 $108,397.46
141 $108,397.46 $509.91 $0.00 $612.89 $109,520.26
142 $109,520.26 $509.91 $0.00 $619.24 $110,649.41
143 $110,649.41 $509.91 $0.00 $625.63 $111,784.95
144 $111,784.95 $509.91 $0.00 $632.05 $112,926.91
145 $112,926.91 $509.91 $0.00 $638.51 $114,075.33
146 $114,075.33 $509.91 $0.00 $645.00 $115,230.24
147 $115,230.24 $509.91 $0.00 $651.53 $116,391.68
148 $116,391.68 $509.91 $0.00 $658.10 $117,559.69
149 $117,559.69 $509.91 $0.00 $664.70 $118,734.30
150 $118,734.30 $509.91 $0.00 $671.34 $119,915.55
151 $119,915.55 $509.91 $0.00 $678.02 $121,103.48
152 $121,103.48 $509.91 $0.00 $684.74 $122,298.13
153 $122,298.13 $509.91 $0.00 $691.49 $123,499.53
154 $123,499.53 $509.91 $0.00 $698.28 $124,707.72
155 $124,707.72 $509.91 $0.00 $705.12 $125,922.75
156 $125,922.75 $509.91 $0.00 $711.99 $127,144.65
157 $127,144.65 $509.91 $0.00 $718.89 $128,373.45
158 $128,373.45 $509.91 $0.00 $725.84 $129,609.20
159 $129,609.20 $509.91 $0.00 $732.83 $130,851.94
160 $130,851.94 $509.91 $0.00 $739.86 $132,101.71
161 $132,101.71 $509.91 $0.00 $746.92 $133,358.54
162 $133,358.54 $509.91 $0.00 $754.03 $134,622.48
163 $134,622.48 $509.91 $0.00 $761.18 $135,893.57
164 $135,893.57 $509.91 $0.00 $768.36 $137,171.84
165 $137,171.84 $509.91 $0.00 $775.59 $138,457.34
166 $138,457.34 $509.91 $0.00 $782.86 $139,750.11
167 $139,750.11 $509.91 $0.00 $790.17 $141,050.19
168 $141,050.19 $509.91 $0.00 $797.52 $142,357.62
169 $142,357.62 $509.91 $0.00 $804.91 $143,672.44
170 $143,672.44 $509.91 $0.00 $812.34 $144,994.69
171 $144,994.69 $509.91 $0.00 $819.82 $146,324.42
172 $146,324.42 $509.91 $0.00 $827.34 $147,661.67
173 $147,661.67 $509.91 $0.00 $834.90 $149,006.48
174 $149,006.48 $509.91 $0.00 $842.50 $150,358.89
175 $150,358.89 $509.91 $0.00 $850.15 $151,718.95
176 $151,718.95 $509.91 $0.00 $857.84 $153,086.70
177 $153,086.70 $509.91 $0.00 $865.57 $154,462.18
178 $154,462.18 $509.91 $0.00 $873.35 $155,845.44
179 $155,845.44 $509.91 $0.00 $881.17 $157,236.52
180 $157,236.52 $509.91 $0.00 $889.04 $158,635.47
181 $158,635.47 $509.91 $0.00 $896.95 $160,042.33
182 $160,042.33 $509.91 $0.00 $904.90 $161,457.14
183 $161,457.14 $509.91 $0.00 $912.90 $162,879.95
184 $162,879.95 $509.91 $0.00 $920.95 $164,310.81
185 $164,310.81 $509.91 $0.00 $929.04 $165,749.76
186 $165,749.76 $509.91 $0.00 $937.17 $167,196.84
187 $167,196.84 $509.91 $0.00 $945.36 $168,652.11
188 $168,652.11 $509.91 $0.00 $953.58 $170,115.60
189 $170,115.60 $509.91 $0.00 $961.86 $171,587.37
190 $171,587.37 $509.91 $0.00 $970.18 $173,067.46
191 $173,067.46 $509.91 $0.00 $978.55 $174,555.92
192 $174,555.92 $509.91 $0.00 $986.96 $176,052.79
193 $176,052.79 $509.91 $0.00 $995.43 $177,558.13
194 $177,558.13 $509.91 $0.00 $1,003.94 $179,071.98
195 $179,071.98 $509.91 $0.00 $1,012.50 $180,594.39
196 $180,594.39 $509.91 $0.00 $1,021.11 $182,125.41
197 $182,125.41 $509.91 $0.00 $1,029.76 $183,665.08
198 $183,665.08 $509.91 $0.00 $1,038.47 $185,213.46
199 $185,213.46 $509.91 $0.00 $1,047.22 $186,770.59
200 $186,770.59 $509.91 $0.00 $1,056.03 $188,336.53
201 $188,336.53 $509.91 $0.00 $1,064.88 $189,911.32
202 $189,911.32 $509.91 $0.00 $1,073.79 $191,495.02
203 $191,495.02 $509.91 $0.00 $1,082.74 $193,087.67
204 $193,087.67 $509.91 $0.00 $1,091.75 $194,689.33
205 $194,689.33 $509.91 $0.00 $1,100.80 $196,300.04
206 $196,300.04 $509.91 $0.00 $1,109.91 $197,919.86
207 $197,919.86 $509.91 $0.00 $1,119.07 $199,548.84
208 $199,548.84 $509.91 $0.00 $1,128.28 $201,187.03
209 $201,187.03 $509.91 $0.00 $1,137.54 $202,834.48
210 $202,834.48 $509.91 $0.00 $1,146.86 $204,491.25
211 $204,491.25 $509.91 $0.00 $1,156.22 $206,157.38
212 $206,157.38 $509.91 $0.00 $1,165.64 $207,832.93
213 $207,832.93 $509.91 $0.00 $1,175.12 $209,517.96
214 $209,517.96 $509.91 $0.00 $1,184.65 $211,212.52
215 $211,212.52 $509.91 $0.00 $1,194.23 $212,916.66
216 $212,916.66 $509.91 $0.00 $1,203.86 $214,630.43
217 $214,630.43 $509.91 $59,780.42 $1,213.55 $156,573.47
218 $156,573.47 $509.91 $0.00 $885.29 $157,968.67
219 $157,968.67 $509.91 $0.00 $893.18 $159,371.76
220 $159,371.76 $509.91 $0.00 $901.11 $160,782.78
221 $160,782.78 $509.91 $0.00 $909.09 $162,201.78
222 $162,201.78 $509.91 $0.00 $917.11 $163,628.80
223 $163,628.80 $509.91 $0.00 $925.18 $165,063.89
224 $165,063.89 $509.91 $0.00 $933.30 $166,507.10
225 $166,507.10 $509.91 $0.00 $941.46 $167,958.47
226 $167,958.47 $509.91 $0.00 $949.66 $169,418.04
227 $169,418.04 $509.91 $0.00 $957.91 $170,885.86
228 $170,885.86 $509.91 $0.00 $966.21 $172,361.98
229 $172,361.98 $509.91 $62,769.44 $974.56 $111,077.01
230 $111,077.01 $509.91 $0.00 $628.05 $112,214.97
231 $112,214.97 $509.91 $0.00 $634.48 $113,359.36
232 $113,359.36 $509.91 $0.00 $640.95 $114,510.22
233 $114,510.22 $509.91 $0.00 $647.46 $115,667.59
234 $115,667.59 $509.91 $0.00 $654.00 $116,831.50
235 $116,831.50 $509.91 $0.00 $660.58 $118,001.99
236 $118,001.99 $509.91 $0.00 $667.20 $119,179.10
237 $119,179.10 $509.91 $0.00 $673.86 $120,362.87
238 $120,362.87 $509.91 $0.00 $680.55 $121,553.33
239 $121,553.33 $509.91 $0.00 $687.28 $122,750.52
240 $122,750.52 $509.91 $0.00 $694.05 $123,954.48
241 $123,954.48 $509.91 $65,907.91 $700.86 $59,257.34
242 $59,257.34 $509.91 $0.00 $335.05 $60,102.30
243 $60,102.30 $509.91 $0.00 $339.83 $60,952.04
244 $60,952.04 $509.91 $0.00 $344.63 $61,806.58
245 $61,806.58 $509.91 $0.00 $349.46 $62,665.95
246 $62,665.95 $509.91 $0.00 $354.32 $63,530.18
247 $63,530.18 $509.91 $0.00 $359.21 $64,399.30
248 $64,399.30 $509.91 $0.00 $364.12 $65,273.33
249 $65,273.33 $509.91 $0.00 $369.06 $66,152.30
250 $66,152.30 $509.91 $0.00 $374.03 $67,036.24
251 $67,036.24 $509.91 $0.00 $379.03 $67,925.18
252 $67,925.18 $509.91 $0.00 $384.06 $68,819.15
253 $68,819.15 $0.00 $69,203.31 $389.11 $4.95