Savings Plan and Future Cost Estimation for University of Maine at Farmington

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$92,756
Monthly savings required$733

How much will it cost to send your child to University of Maine at Farmington in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $371,025.82 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $733.08 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$24,724.00
Years until enrollment18
Annual Tuition Increase7%
Current Savings$0.00
After Tax Return on Savings7%
Years of enrollment4

Current Savings Shortfall

College Savings Calculator

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Planned Savings Balance

College Savings Schedule

Month Begin Deposit Withdraw Interest End
1 $0.00 $733.08 $0.00 $0.00 $733.08
2 $733.08 $733.08 $0.00 $4.14 $1,470.30
3 $1,470.30 $733.08 $0.00 $8.31 $2,211.69
4 $2,211.69 $733.08 $0.00 $12.51 $2,957.28
5 $2,957.28 $733.08 $0.00 $16.72 $3,707.08
6 $3,707.08 $733.08 $0.00 $20.96 $4,461.12
7 $4,461.12 $733.08 $0.00 $25.22 $5,219.42
8 $5,219.42 $733.08 $0.00 $29.51 $5,982.01
9 $5,982.01 $733.08 $0.00 $33.82 $6,748.91
10 $6,748.91 $733.08 $0.00 $38.16 $7,520.15
11 $7,520.15 $733.08 $0.00 $42.52 $8,295.75
12 $8,295.75 $733.08 $0.00 $46.91 $9,075.74
13 $9,075.74 $733.08 $0.00 $51.32 $9,860.14
14 $9,860.14 $733.08 $0.00 $55.75 $10,648.97
15 $10,648.97 $733.08 $0.00 $60.21 $11,442.26
16 $11,442.26 $733.08 $0.00 $64.70 $12,240.04
17 $12,240.04 $733.08 $0.00 $69.21 $13,042.33
18 $13,042.33 $733.08 $0.00 $73.74 $13,849.15
19 $13,849.15 $733.08 $0.00 $78.31 $14,660.54
20 $14,660.54 $733.08 $0.00 $82.89 $15,476.51
21 $15,476.51 $733.08 $0.00 $87.51 $16,297.10
22 $16,297.10 $733.08 $0.00 $92.15 $17,122.33
23 $17,122.33 $733.08 $0.00 $96.81 $17,952.22
24 $17,952.22 $733.08 $0.00 $101.50 $18,786.80
25 $18,786.80 $733.08 $0.00 $106.22 $19,626.10
26 $19,626.10 $733.08 $0.00 $110.97 $20,470.15
27 $20,470.15 $733.08 $0.00 $115.74 $21,318.97
28 $21,318.97 $733.08 $0.00 $120.54 $22,172.59
29 $22,172.59 $733.08 $0.00 $125.37 $23,031.04
30 $23,031.04 $733.08 $0.00 $130.22 $23,894.34
31 $23,894.34 $733.08 $0.00 $135.10 $24,762.52
32 $24,762.52 $733.08 $0.00 $140.01 $25,635.61
33 $25,635.61 $733.08 $0.00 $144.95 $26,513.64
34 $26,513.64 $733.08 $0.00 $149.91 $27,396.63
35 $27,396.63 $733.08 $0.00 $154.90 $28,284.61
36 $28,284.61 $733.08 $0.00 $159.93 $29,177.62
37 $29,177.62 $733.08 $0.00 $164.97 $30,075.67
38 $30,075.67 $733.08 $0.00 $170.05 $30,978.80
39 $30,978.80 $733.08 $0.00 $175.16 $31,887.04
40 $31,887.04 $733.08 $0.00 $180.29 $32,800.41
41 $32,800.41 $733.08 $0.00 $185.46 $33,718.95
42 $33,718.95 $733.08 $0.00 $190.65 $34,642.68
43 $34,642.68 $733.08 $0.00 $195.87 $35,571.63
44 $35,571.63 $733.08 $0.00 $201.13 $36,505.84
45 $36,505.84 $733.08 $0.00 $206.41 $37,445.33
46 $37,445.33 $733.08 $0.00 $211.72 $38,390.13
47 $38,390.13 $733.08 $0.00 $217.06 $39,340.27
48 $39,340.27 $733.08 $0.00 $222.44 $40,295.79
49 $40,295.79 $733.08 $0.00 $227.84 $41,256.71
50 $41,256.71 $733.08 $0.00 $233.27 $42,223.06
51 $42,223.06 $733.08 $0.00 $238.74 $43,194.88
52 $43,194.88 $733.08 $0.00 $244.23 $44,172.19
53 $44,172.19 $733.08 $0.00 $249.76 $45,155.03
54 $45,155.03 $733.08 $0.00 $255.31 $46,143.42
55 $46,143.42 $733.08 $0.00 $260.90 $47,137.40
56 $47,137.40 $733.08 $0.00 $266.52 $48,137.00
57 $48,137.00 $733.08 $0.00 $272.17 $49,142.25
58 $49,142.25 $733.08 $0.00 $277.86 $50,153.19
59 $50,153.19 $733.08 $0.00 $283.57 $51,169.84
60 $51,169.84 $733.08 $0.00 $289.32 $52,192.24
61 $52,192.24 $733.08 $0.00 $295.10 $53,220.42
62 $53,220.42 $733.08 $0.00 $300.92 $54,254.42
63 $54,254.42 $733.08 $0.00 $306.76 $55,294.26
64 $55,294.26 $733.08 $0.00 $312.64 $56,339.98
65 $56,339.98 $733.08 $0.00 $318.55 $57,391.61
66 $57,391.61 $733.08 $0.00 $324.50 $58,449.19
67 $58,449.19 $733.08 $0.00 $330.48 $59,512.75
68 $59,512.75 $733.08 $0.00 $336.49 $60,582.32
69 $60,582.32 $733.08 $0.00 $342.54 $61,657.94
70 $61,657.94 $733.08 $0.00 $348.62 $62,739.64
71 $62,739.64 $733.08 $0.00 $354.74 $63,827.46
72 $63,827.46 $733.08 $0.00 $360.89 $64,921.43
73 $64,921.43 $733.08 $0.00 $367.08 $66,021.59
74 $66,021.59 $733.08 $0.00 $373.30 $67,127.97
75 $67,127.97 $733.08 $0.00 $379.55 $68,240.60
76 $68,240.60 $733.08 $0.00 $385.84 $69,359.52
77 $69,359.52 $733.08 $0.00 $392.17 $70,484.77
78 $70,484.77 $733.08 $0.00 $398.53 $71,616.38
79 $71,616.38 $733.08 $0.00 $404.93 $72,754.39
80 $72,754.39 $733.08 $0.00 $411.36 $73,898.83
81 $73,898.83 $733.08 $0.00 $417.83 $75,049.74
82 $75,049.74 $733.08 $0.00 $424.34 $76,207.16
83 $76,207.16 $733.08 $0.00 $430.89 $77,371.13
84 $77,371.13 $733.08 $0.00 $437.47 $78,541.68
85 $78,541.68 $733.08 $0.00 $444.09 $79,718.85
86 $79,718.85 $733.08 $0.00 $450.74 $80,902.67
87 $80,902.67 $733.08 $0.00 $457.44 $82,093.19
88 $82,093.19 $733.08 $0.00 $464.17 $83,290.44
89 $83,290.44 $733.08 $0.00 $470.94 $84,494.46
90 $84,494.46 $733.08 $0.00 $477.74 $85,705.28
91 $85,705.28 $733.08 $0.00 $484.59 $86,922.95
92 $86,922.95 $733.08 $0.00 $491.47 $88,147.50
93 $88,147.50 $733.08 $0.00 $498.40 $89,378.98
94 $89,378.98 $733.08 $0.00 $505.36 $90,617.42
95 $90,617.42 $733.08 $0.00 $512.36 $91,862.86
96 $91,862.86 $733.08 $0.00 $519.41 $93,115.35
97 $93,115.35 $733.08 $0.00 $526.49 $94,374.92
98 $94,374.92 $733.08 $0.00 $533.61 $95,641.61
99 $95,641.61 $733.08 $0.00 $540.77 $96,915.46
100 $96,915.46 $733.08 $0.00 $547.97 $98,196.51
101 $98,196.51 $733.08 $0.00 $555.22 $99,484.81
102 $99,484.81 $733.08 $0.00 $562.50 $100,780.39
103 $100,780.39 $733.08 $0.00 $569.83 $102,083.30
104 $102,083.30 $733.08 $0.00 $577.19 $103,393.57
105 $103,393.57 $733.08 $0.00 $584.60 $104,711.25
106 $104,711.25 $733.08 $0.00 $592.05 $106,036.38
107 $106,036.38 $733.08 $0.00 $599.55 $107,369.01
108 $107,369.01 $733.08 $0.00 $607.08 $108,709.17
109 $108,709.17 $733.08 $0.00 $614.66 $110,056.91
110 $110,056.91 $733.08 $0.00 $622.28 $111,412.27
111 $111,412.27 $733.08 $0.00 $629.94 $112,775.29
112 $112,775.29 $733.08 $0.00 $637.65 $114,146.02
113 $114,146.02 $733.08 $0.00 $645.40 $115,524.50
114 $115,524.50 $733.08 $0.00 $653.19 $116,910.77
115 $116,910.77 $733.08 $0.00 $661.03 $118,304.88
116 $118,304.88 $733.08 $0.00 $668.91 $119,706.87
117 $119,706.87 $733.08 $0.00 $676.84 $121,116.79
118 $121,116.79 $733.08 $0.00 $684.81 $122,534.68
119 $122,534.68 $733.08 $0.00 $692.83 $123,960.59
120 $123,960.59 $733.08 $0.00 $700.89 $125,394.56
121 $125,394.56 $733.08 $0.00 $709.00 $126,836.64
122 $126,836.64 $733.08 $0.00 $717.15 $128,286.87
123 $128,286.87 $733.08 $0.00 $725.35 $129,745.30
124 $129,745.30 $733.08 $0.00 $733.60 $131,211.98
125 $131,211.98 $733.08 $0.00 $741.89 $132,686.95
126 $132,686.95 $733.08 $0.00 $750.23 $134,170.26
127 $134,170.26 $733.08 $0.00 $758.62 $135,661.96
128 $135,661.96 $733.08 $0.00 $767.05 $137,162.09
129 $137,162.09 $733.08 $0.00 $775.53 $138,670.70
130 $138,670.70 $733.08 $0.00 $784.06 $140,187.84
131 $140,187.84 $733.08 $0.00 $792.64 $141,713.56
132 $141,713.56 $733.08 $0.00 $801.27 $143,247.91
133 $143,247.91 $733.08 $0.00 $809.94 $144,790.93
134 $144,790.93 $733.08 $0.00 $818.67 $146,342.68
135 $146,342.68 $733.08 $0.00 $827.44 $147,903.20
136 $147,903.20 $733.08 $0.00 $836.27 $149,472.55
137 $149,472.55 $733.08 $0.00 $845.14 $151,050.77
138 $151,050.77 $733.08 $0.00 $854.06 $152,637.91
139 $152,637.91 $733.08 $0.00 $863.04 $154,234.03
140 $154,234.03 $733.08 $0.00 $872.06 $155,839.17
141 $155,839.17 $733.08 $0.00 $881.14 $157,453.39
142 $157,453.39 $733.08 $0.00 $890.26 $159,076.73
143 $159,076.73 $733.08 $0.00 $899.44 $160,709.25
144 $160,709.25 $733.08 $0.00 $908.67 $162,351.00
145 $162,351.00 $733.08 $0.00 $917.96 $164,002.04
146 $164,002.04 $733.08 $0.00 $927.29 $165,662.41
147 $165,662.41 $733.08 $0.00 $936.68 $167,332.17
148 $167,332.17 $733.08 $0.00 $946.12 $169,011.37
149 $169,011.37 $733.08 $0.00 $955.61 $170,700.06
150 $170,700.06 $733.08 $0.00 $965.16 $172,398.30
151 $172,398.30 $733.08 $0.00 $974.77 $174,106.15
152 $174,106.15 $733.08 $0.00 $984.42 $175,823.65
153 $175,823.65 $733.08 $0.00 $994.13 $177,550.86
154 $177,550.86 $733.08 $0.00 $1,003.90 $179,287.84
155 $179,287.84 $733.08 $0.00 $1,013.72 $181,034.64
156 $181,034.64 $733.08 $0.00 $1,023.60 $182,791.32
157 $182,791.32 $733.08 $0.00 $1,033.53 $184,557.93
158 $184,557.93 $733.08 $0.00 $1,043.52 $186,334.53
159 $186,334.53 $733.08 $0.00 $1,053.56 $188,121.17
160 $188,121.17 $733.08 $0.00 $1,063.66 $189,917.91
161 $189,917.91 $733.08 $0.00 $1,073.82 $191,724.81
162 $191,724.81 $733.08 $0.00 $1,084.04 $193,541.93
163 $193,541.93 $733.08 $0.00 $1,094.31 $195,369.32
164 $195,369.32 $733.08 $0.00 $1,104.65 $197,207.05
165 $197,207.05 $733.08 $0.00 $1,115.04 $199,055.17
166 $199,055.17 $733.08 $0.00 $1,125.49 $200,913.74
167 $200,913.74 $733.08 $0.00 $1,136.00 $202,782.82
168 $202,782.82 $733.08 $0.00 $1,146.56 $204,662.46
169 $204,662.46 $733.08 $0.00 $1,157.19 $206,552.73
170 $206,552.73 $733.08 $0.00 $1,167.88 $208,453.69
171 $208,453.69 $733.08 $0.00 $1,178.63 $210,365.40
172 $210,365.40 $733.08 $0.00 $1,189.44 $212,287.92
173 $212,287.92 $733.08 $0.00 $1,200.31 $214,221.31
174 $214,221.31 $733.08 $0.00 $1,211.24 $216,165.63
175 $216,165.63 $733.08 $0.00 $1,222.23 $218,120.94
176 $218,120.94 $733.08 $0.00 $1,233.29 $220,087.31
177 $220,087.31 $733.08 $0.00 $1,244.41 $222,064.80
178 $222,064.80 $733.08 $0.00 $1,255.59 $224,053.47
179 $224,053.47 $733.08 $0.00 $1,266.83 $226,053.38
180 $226,053.38 $733.08 $0.00 $1,278.14 $228,064.60
181 $228,064.60 $733.08 $0.00 $1,289.51 $230,087.19
182 $230,087.19 $733.08 $0.00 $1,300.95 $232,121.22
183 $232,121.22 $733.08 $0.00 $1,312.45 $234,166.75
184 $234,166.75 $733.08 $0.00 $1,324.01 $236,223.84
185 $236,223.84 $733.08 $0.00 $1,335.64 $238,292.56
186 $238,292.56 $733.08 $0.00 $1,347.34 $240,372.98
187 $240,372.98 $733.08 $0.00 $1,359.10 $242,465.16
188 $242,465.16 $733.08 $0.00 $1,370.93 $244,569.17
189 $244,569.17 $733.08 $0.00 $1,382.83 $246,685.08
190 $246,685.08 $733.08 $0.00 $1,394.79 $248,812.95
191 $248,812.95 $733.08 $0.00 $1,406.82 $250,952.85
192 $250,952.85 $733.08 $0.00 $1,418.92 $253,104.85
193 $253,104.85 $733.08 $0.00 $1,431.09 $255,269.02
194 $255,269.02 $733.08 $0.00 $1,443.33 $257,445.43
195 $257,445.43 $733.08 $0.00 $1,455.63 $259,634.14
196 $259,634.14 $733.08 $0.00 $1,468.01 $261,835.23
197 $261,835.23 $733.08 $0.00 $1,480.45 $264,048.76
198 $264,048.76 $733.08 $0.00 $1,492.97 $266,274.81
199 $266,274.81 $733.08 $0.00 $1,505.56 $268,513.45
200 $268,513.45 $733.08 $0.00 $1,518.21 $270,764.74
201 $270,764.74 $733.08 $0.00 $1,530.94 $273,028.76
202 $273,028.76 $733.08 $0.00 $1,543.74 $275,305.58
203 $275,305.58 $733.08 $0.00 $1,556.62 $277,595.28
204 $277,595.28 $733.08 $0.00 $1,569.56 $279,897.92
205 $279,897.92 $733.08 $0.00 $1,582.58 $282,213.58
206 $282,213.58 $733.08 $0.00 $1,595.68 $284,542.34
207 $284,542.34 $733.08 $0.00 $1,608.84 $286,884.26
208 $286,884.26 $733.08 $0.00 $1,622.09 $289,239.43
209 $289,239.43 $733.08 $0.00 $1,635.40 $291,607.91
210 $291,607.91 $733.08 $0.00 $1,648.79 $293,989.78
211 $293,989.78 $733.08 $0.00 $1,662.26 $296,385.12
212 $296,385.12 $733.08 $0.00 $1,675.80 $298,794.00
213 $298,794.00 $733.08 $0.00 $1,689.42 $301,216.50
214 $301,216.50 $733.08 $0.00 $1,703.12 $303,652.70
215 $303,652.70 $733.08 $0.00 $1,716.90 $306,102.68
216 $306,102.68 $733.08 $0.00 $1,730.75 $308,566.51
217 $308,566.51 $733.08 $83,565.45 $1,744.68 $227,478.82
218 $227,478.82 $733.08 $0.00 $1,286.20 $229,498.10
219 $229,498.10 $733.08 $0.00 $1,297.62 $231,528.80
220 $231,528.80 $733.08 $0.00 $1,309.10 $233,570.98
221 $233,570.98 $733.08 $0.00 $1,320.64 $235,624.70
222 $235,624.70 $733.08 $0.00 $1,332.26 $237,690.04
223 $237,690.04 $733.08 $0.00 $1,343.93 $239,767.05
224 $239,767.05 $733.08 $0.00 $1,355.68 $241,855.81
225 $241,855.81 $733.08 $0.00 $1,367.49 $243,956.38
226 $243,956.38 $733.08 $0.00 $1,379.36 $246,068.82
227 $246,068.82 $733.08 $0.00 $1,391.31 $248,193.21
228 $248,193.21 $733.08 $0.00 $1,403.32 $250,329.61
229 $250,329.61 $733.08 $89,415.03 $1,415.40 $163,063.06
230 $163,063.06 $733.08 $0.00 $921.98 $164,718.12
231 $164,718.12 $733.08 $0.00 $931.34 $166,382.54
232 $166,382.54 $733.08 $0.00 $940.75 $168,056.37
233 $168,056.37 $733.08 $0.00 $950.22 $169,739.67
234 $169,739.67 $733.08 $0.00 $959.73 $171,432.48
235 $171,432.48 $733.08 $0.00 $969.30 $173,134.86
236 $173,134.86 $733.08 $0.00 $978.93 $174,846.87
237 $174,846.87 $733.08 $0.00 $988.61 $176,568.56
238 $176,568.56 $733.08 $0.00 $998.34 $178,299.98
239 $178,299.98 $733.08 $0.00 $1,008.13 $180,041.19
240 $180,041.19 $733.08 $0.00 $1,017.98 $181,792.25
241 $181,792.25 $733.08 $95,674.08 $1,027.88 $87,879.13
242 $87,879.13 $733.08 $0.00 $496.88 $89,109.09
243 $89,109.09 $733.08 $0.00 $503.84 $90,346.01
244 $90,346.01 $733.08 $0.00 $510.83 $91,589.92
245 $91,589.92 $733.08 $0.00 $517.86 $92,840.86
246 $92,840.86 $733.08 $0.00 $524.94 $94,098.88
247 $94,098.88 $733.08 $0.00 $532.05 $95,364.01
248 $95,364.01 $733.08 $0.00 $539.20 $96,636.29
249 $96,636.29 $733.08 $0.00 $546.40 $97,915.77
250 $97,915.77 $733.08 $0.00 $553.63 $99,202.48
251 $99,202.48 $733.08 $0.00 $560.91 $100,496.47
252 $100,496.47 $733.08 $0.00 $568.22 $101,797.77
253 $101,797.77 $0.00 $102,371.26 $575.58 $2.09