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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$73,849
Monthly savings required$585

How much will it cost to send your child to Michigan State University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $295,397.44 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $584.58 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$28,478.00
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 $584.58 $0.00 $0.00 $584.58
2 $584.58 $584.58 $0.00 $3.31 $1,172.47
3 $1,172.47 $584.58 $0.00 $6.63 $1,763.68
4 $1,763.68 $584.58 $0.00 $9.97 $2,358.23
5 $2,358.23 $584.58 $0.00 $13.33 $2,956.14
6 $2,956.14 $584.58 $0.00 $16.71 $3,557.43
7 $3,557.43 $584.58 $0.00 $20.11 $4,162.12
8 $4,162.12 $584.58 $0.00 $23.53 $4,770.23
9 $4,770.23 $584.58 $0.00 $26.97 $5,381.78
10 $5,381.78 $584.58 $0.00 $30.43 $5,996.79
11 $5,996.79 $584.58 $0.00 $33.91 $6,615.28
12 $6,615.28 $584.58 $0.00 $37.40 $7,237.26
13 $7,237.26 $584.58 $0.00 $40.92 $7,862.76
14 $7,862.76 $584.58 $0.00 $44.46 $8,491.80
15 $8,491.80 $584.58 $0.00 $48.01 $9,124.39
16 $9,124.39 $584.58 $0.00 $51.59 $9,760.56
17 $9,760.56 $584.58 $0.00 $55.19 $10,400.33
18 $10,400.33 $584.58 $0.00 $58.80 $11,043.71
19 $11,043.71 $584.58 $0.00 $62.44 $11,690.73
20 $11,690.73 $584.58 $0.00 $66.10 $12,341.41
21 $12,341.41 $584.58 $0.00 $69.78 $12,995.77
22 $12,995.77 $584.58 $0.00 $73.48 $13,653.83
23 $13,653.83 $584.58 $0.00 $77.20 $14,315.61
24 $14,315.61 $584.58 $0.00 $80.94 $14,981.13
25 $14,981.13 $584.58 $0.00 $84.71 $15,650.42
26 $15,650.42 $584.58 $0.00 $88.49 $16,323.49
27 $16,323.49 $584.58 $0.00 $92.30 $17,000.37
28 $17,000.37 $584.58 $0.00 $96.12 $17,681.07
29 $17,681.07 $584.58 $0.00 $99.97 $18,365.62
30 $18,365.62 $584.58 $0.00 $103.84 $19,054.04
31 $19,054.04 $584.58 $0.00 $107.73 $19,746.35
32 $19,746.35 $584.58 $0.00 $111.65 $20,442.58
33 $20,442.58 $584.58 $0.00 $115.59 $21,142.75
34 $21,142.75 $584.58 $0.00 $119.54 $21,846.87
35 $21,846.87 $584.58 $0.00 $123.53 $22,554.98
36 $22,554.98 $584.58 $0.00 $127.53 $23,267.09
37 $23,267.09 $584.58 $0.00 $131.56 $23,983.23
38 $23,983.23 $584.58 $0.00 $135.60 $24,703.41
39 $24,703.41 $584.58 $0.00 $139.68 $25,427.67
40 $25,427.67 $584.58 $0.00 $143.77 $26,156.02
41 $26,156.02 $584.58 $0.00 $147.89 $26,888.49
42 $26,888.49 $584.58 $0.00 $152.03 $27,625.10
43 $27,625.10 $584.58 $0.00 $156.20 $28,365.88
44 $28,365.88 $584.58 $0.00 $160.38 $29,110.84
45 $29,110.84 $584.58 $0.00 $164.60 $29,860.02
46 $29,860.02 $584.58 $0.00 $168.83 $30,613.43
47 $30,613.43 $584.58 $0.00 $173.09 $31,371.10
48 $31,371.10 $584.58 $0.00 $177.38 $32,133.06
49 $32,133.06 $584.58 $0.00 $181.68 $32,899.32
50 $32,899.32 $584.58 $0.00 $186.02 $33,669.92
51 $33,669.92 $584.58 $0.00 $190.37 $34,444.87
52 $34,444.87 $584.58 $0.00 $194.76 $35,224.21
53 $35,224.21 $584.58 $0.00 $199.16 $36,007.95
54 $36,007.95 $584.58 $0.00 $203.59 $36,796.12
55 $36,796.12 $584.58 $0.00 $208.05 $37,588.75
56 $37,588.75 $584.58 $0.00 $212.53 $38,385.86
57 $38,385.86 $584.58 $0.00 $217.04 $39,187.48
58 $39,187.48 $584.58 $0.00 $221.57 $39,993.63
59 $39,993.63 $584.58 $0.00 $226.13 $40,804.34
60 $40,804.34 $584.58 $0.00 $230.71 $41,619.63
61 $41,619.63 $584.58 $0.00 $235.32 $42,439.53
62 $42,439.53 $584.58 $0.00 $239.96 $43,264.07
63 $43,264.07 $584.58 $0.00 $244.62 $44,093.27
64 $44,093.27 $584.58 $0.00 $249.31 $44,927.16
65 $44,927.16 $584.58 $0.00 $254.02 $45,765.76
66 $45,765.76 $584.58 $0.00 $258.77 $46,609.11
67 $46,609.11 $584.58 $0.00 $263.53 $47,457.22
68 $47,457.22 $584.58 $0.00 $268.33 $48,310.13
69 $48,310.13 $584.58 $0.00 $273.15 $49,167.86
70 $49,167.86 $584.58 $0.00 $278.00 $50,030.44
71 $50,030.44 $584.58 $0.00 $282.88 $50,897.90
72 $50,897.90 $584.58 $0.00 $287.78 $51,770.26
73 $51,770.26 $584.58 $0.00 $292.72 $52,647.56
74 $52,647.56 $584.58 $0.00 $297.68 $53,529.82
75 $53,529.82 $584.58 $0.00 $302.67 $54,417.07
76 $54,417.07 $584.58 $0.00 $307.68 $55,309.33
77 $55,309.33 $584.58 $0.00 $312.73 $56,206.64
78 $56,206.64 $584.58 $0.00 $317.80 $57,109.02
79 $57,109.02 $584.58 $0.00 $322.90 $58,016.50
80 $58,016.50 $584.58 $0.00 $328.03 $58,929.11
81 $58,929.11 $584.58 $0.00 $333.19 $59,846.88
82 $59,846.88 $584.58 $0.00 $338.38 $60,769.84
83 $60,769.84 $584.58 $0.00 $343.60 $61,698.02
84 $61,698.02 $584.58 $0.00 $348.85 $62,631.45
85 $62,631.45 $584.58 $0.00 $354.13 $63,570.16
86 $63,570.16 $584.58 $0.00 $359.43 $64,514.17
87 $64,514.17 $584.58 $0.00 $364.77 $65,463.52
88 $65,463.52 $584.58 $0.00 $370.14 $66,418.24
89 $66,418.24 $584.58 $0.00 $375.54 $67,378.36
90 $67,378.36 $584.58 $0.00 $380.97 $68,343.91
91 $68,343.91 $584.58 $0.00 $386.43 $69,314.92
92 $69,314.92 $584.58 $0.00 $391.92 $70,291.42
93 $70,291.42 $584.58 $0.00 $397.44 $71,273.44
94 $71,273.44 $584.58 $0.00 $402.99 $72,261.01
95 $72,261.01 $584.58 $0.00 $408.57 $73,254.16
96 $73,254.16 $584.58 $0.00 $414.19 $74,252.93
97 $74,252.93 $584.58 $0.00 $419.84 $75,257.35
98 $75,257.35 $584.58 $0.00 $425.52 $76,267.45
99 $76,267.45 $584.58 $0.00 $431.23 $77,283.26
100 $77,283.26 $584.58 $0.00 $436.97 $78,304.81
101 $78,304.81 $584.58 $0.00 $442.75 $79,332.14
102 $79,332.14 $584.58 $0.00 $448.56 $80,365.28
103 $80,365.28 $584.58 $0.00 $454.40 $81,404.26
104 $81,404.26 $584.58 $0.00 $460.27 $82,449.11
105 $82,449.11 $584.58 $0.00 $466.18 $83,499.87
106 $83,499.87 $584.58 $0.00 $472.12 $84,556.57
107 $84,556.57 $584.58 $0.00 $478.10 $85,619.25
108 $85,619.25 $584.58 $0.00 $484.10 $86,687.93
109 $86,687.93 $584.58 $0.00 $490.15 $87,762.66
110 $87,762.66 $584.58 $0.00 $496.22 $88,843.46
111 $88,843.46 $584.58 $0.00 $502.33 $89,930.37
112 $89,930.37 $584.58 $0.00 $508.48 $91,023.43
113 $91,023.43 $584.58 $0.00 $514.66 $92,122.67
114 $92,122.67 $584.58 $0.00 $520.87 $93,228.12
115 $93,228.12 $584.58 $0.00 $527.13 $94,339.83
116 $94,339.83 $584.58 $0.00 $533.41 $95,457.82
117 $95,457.82 $584.58 $0.00 $539.73 $96,582.13
118 $96,582.13 $584.58 $0.00 $546.09 $97,712.80
119 $97,712.80 $584.58 $0.00 $552.48 $98,849.86
120 $98,849.86 $584.58 $0.00 $558.91 $99,993.35
121 $99,993.35 $584.58 $0.00 $565.38 $101,143.31
122 $101,143.31 $584.58 $0.00 $571.88 $102,299.77
123 $102,299.77 $584.58 $0.00 $578.42 $103,462.77
124 $103,462.77 $584.58 $0.00 $584.99 $104,632.34
125 $104,632.34 $584.58 $0.00 $591.61 $105,808.53
126 $105,808.53 $584.58 $0.00 $598.26 $106,991.37
127 $106,991.37 $584.58 $0.00 $604.94 $108,180.89
128 $108,180.89 $584.58 $0.00 $611.67 $109,377.14
129 $109,377.14 $584.58 $0.00 $618.43 $110,580.15
130 $110,580.15 $584.58 $0.00 $625.24 $111,789.97
131 $111,789.97 $584.58 $0.00 $632.08 $113,006.63
132 $113,006.63 $584.58 $0.00 $638.96 $114,230.17
133 $114,230.17 $584.58 $0.00 $645.87 $115,460.62
134 $115,460.62 $584.58 $0.00 $652.83 $116,698.03
135 $116,698.03 $584.58 $0.00 $659.83 $117,942.44
136 $117,942.44 $584.58 $0.00 $666.86 $119,193.88
137 $119,193.88 $584.58 $0.00 $673.94 $120,452.40
138 $120,452.40 $584.58 $0.00 $681.06 $121,718.04
139 $121,718.04 $584.58 $0.00 $688.21 $122,990.83
140 $122,990.83 $584.58 $0.00 $695.41 $124,270.82
141 $124,270.82 $584.58 $0.00 $702.65 $125,558.05
142 $125,558.05 $584.58 $0.00 $709.92 $126,852.55
143 $126,852.55 $584.58 $0.00 $717.24 $128,154.37
144 $128,154.37 $584.58 $0.00 $724.60 $129,463.55
145 $129,463.55 $584.58 $0.00 $732.01 $130,780.14
146 $130,780.14 $584.58 $0.00 $739.45 $132,104.17
147 $132,104.17 $584.58 $0.00 $746.94 $133,435.69
148 $133,435.69 $584.58 $0.00 $754.46 $134,774.73
149 $134,774.73 $584.58 $0.00 $762.04 $136,121.35
150 $136,121.35 $584.58 $0.00 $769.65 $137,475.58
151 $137,475.58 $584.58 $0.00 $777.31 $138,837.47
152 $138,837.47 $584.58 $0.00 $785.01 $140,207.06
153 $140,207.06 $584.58 $0.00 $792.75 $141,584.39
154 $141,584.39 $584.58 $0.00 $800.54 $142,969.51
155 $142,969.51 $584.58 $0.00 $808.37 $144,362.46
156 $144,362.46 $584.58 $0.00 $816.25 $145,763.29
157 $145,763.29 $584.58 $0.00 $824.17 $147,172.04
158 $147,172.04 $584.58 $0.00 $832.13 $148,588.75
159 $148,588.75 $584.58 $0.00 $840.14 $150,013.47
160 $150,013.47 $584.58 $0.00 $848.20 $151,446.25
161 $151,446.25 $584.58 $0.00 $856.30 $152,887.13
162 $152,887.13 $584.58 $0.00 $864.45 $154,336.16
163 $154,336.16 $584.58 $0.00 $872.64 $155,793.38
164 $155,793.38 $584.58 $0.00 $880.88 $157,258.84
165 $157,258.84 $584.58 $0.00 $889.16 $158,732.58
166 $158,732.58 $584.58 $0.00 $897.50 $160,214.66
167 $160,214.66 $584.58 $0.00 $905.88 $161,705.12
168 $161,705.12 $584.58 $0.00 $914.30 $163,204.00
169 $163,204.00 $584.58 $0.00 $922.78 $164,711.36
170 $164,711.36 $584.58 $0.00 $931.30 $166,227.24
171 $166,227.24 $584.58 $0.00 $939.87 $167,751.69
172 $167,751.69 $584.58 $0.00 $948.49 $169,284.76
173 $169,284.76 $584.58 $0.00 $957.16 $170,826.50
174 $170,826.50 $584.58 $0.00 $965.88 $172,376.96
175 $172,376.96 $584.58 $0.00 $974.64 $173,936.18
176 $173,936.18 $584.58 $0.00 $983.46 $175,504.22
177 $175,504.22 $584.58 $0.00 $992.33 $177,081.13
178 $177,081.13 $584.58 $0.00 $1,001.24 $178,666.95
179 $178,666.95 $584.58 $0.00 $1,010.21 $180,261.74
180 $180,261.74 $584.58 $0.00 $1,019.23 $181,865.55
181 $181,865.55 $584.58 $0.00 $1,028.29 $183,478.42
182 $183,478.42 $584.58 $0.00 $1,037.41 $185,100.41
183 $185,100.41 $584.58 $0.00 $1,046.58 $186,731.57
184 $186,731.57 $584.58 $0.00 $1,055.81 $188,371.96
185 $188,371.96 $584.58 $0.00 $1,065.08 $190,021.62
186 $190,021.62 $584.58 $0.00 $1,074.41 $191,680.61
187 $191,680.61 $584.58 $0.00 $1,083.79 $193,348.98
188 $193,348.98 $584.58 $0.00 $1,093.22 $195,026.78
189 $195,026.78 $584.58 $0.00 $1,102.71 $196,714.07
190 $196,714.07 $584.58 $0.00 $1,112.25 $198,410.90
191 $198,410.90 $584.58 $0.00 $1,121.84 $200,117.32
192 $200,117.32 $584.58 $0.00 $1,131.49 $201,833.39
193 $201,833.39 $584.58 $0.00 $1,141.20 $203,559.17
194 $203,559.17 $584.58 $0.00 $1,150.95 $205,294.70
195 $205,294.70 $584.58 $0.00 $1,160.77 $207,040.05
196 $207,040.05 $584.58 $0.00 $1,170.63 $208,795.26
197 $208,795.26 $584.58 $0.00 $1,180.56 $210,560.40
198 $210,560.40 $584.58 $0.00 $1,190.54 $212,335.52
199 $212,335.52 $584.58 $0.00 $1,200.58 $214,120.68
200 $214,120.68 $584.58 $0.00 $1,210.67 $215,915.93
201 $215,915.93 $584.58 $0.00 $1,220.82 $217,721.33
202 $217,721.33 $584.58 $0.00 $1,231.03 $219,536.94
203 $219,536.94 $584.58 $0.00 $1,241.29 $221,362.81
204 $221,362.81 $584.58 $0.00 $1,251.62 $223,199.01
205 $223,199.01 $584.58 $0.00 $1,262.00 $225,045.59
206 $225,045.59 $584.58 $0.00 $1,272.44 $226,902.61
207 $226,902.61 $584.58 $0.00 $1,282.94 $228,770.13
208 $228,770.13 $584.58 $0.00 $1,293.50 $230,648.21
209 $230,648.21 $584.58 $0.00 $1,304.12 $232,536.91
210 $232,536.91 $584.58 $0.00 $1,314.80 $234,436.29
211 $234,436.29 $584.58 $0.00 $1,325.54 $236,346.41
212 $236,346.41 $584.58 $0.00 $1,336.34 $238,267.33
213 $238,267.33 $584.58 $0.00 $1,347.20 $240,199.11
214 $240,199.11 $584.58 $0.00 $1,358.12 $242,141.81
215 $242,141.81 $584.58 $0.00 $1,369.10 $244,095.49
216 $244,095.49 $584.58 $0.00 $1,380.15 $246,060.22
217 $246,060.22 $584.58 $68,535.70 $1,391.26 $179,500.36
218 $179,500.36 $584.58 $0.00 $1,014.92 $181,099.86
219 $181,099.86 $584.58 $0.00 $1,023.96 $182,708.40
220 $182,708.40 $584.58 $0.00 $1,033.06 $184,326.04
221 $184,326.04 $584.58 $0.00 $1,042.21 $185,952.83
222 $185,952.83 $584.58 $0.00 $1,051.40 $187,588.81
223 $187,588.81 $584.58 $0.00 $1,060.65 $189,234.04
224 $189,234.04 $584.58 $0.00 $1,069.96 $190,888.58
225 $190,888.58 $584.58 $0.00 $1,079.31 $192,552.47
226 $192,552.47 $584.58 $0.00 $1,088.72 $194,225.77
227 $194,225.77 $584.58 $0.00 $1,098.18 $195,908.53
228 $195,908.53 $584.58 $0.00 $1,107.70 $197,600.81
229 $197,600.81 $584.58 $71,962.49 $1,117.26 $127,340.16
230 $127,340.16 $584.58 $0.00 $720.00 $128,644.74
231 $128,644.74 $584.58 $0.00 $727.38 $129,956.70
232 $129,956.70 $584.58 $0.00 $734.79 $131,276.07
233 $131,276.07 $584.58 $0.00 $742.25 $132,602.90
234 $132,602.90 $584.58 $0.00 $749.76 $133,937.24
235 $133,937.24 $584.58 $0.00 $757.30 $135,279.12
236 $135,279.12 $584.58 $0.00 $764.89 $136,628.59
237 $136,628.59 $584.58 $0.00 $772.52 $137,985.69
238 $137,985.69 $584.58 $0.00 $780.19 $139,350.46
239 $139,350.46 $584.58 $0.00 $787.91 $140,722.95
240 $140,722.95 $584.58 $0.00 $795.67 $142,103.20
241 $142,103.20 $584.58 $75,560.61 $803.47 $67,930.64
242 $67,930.64 $584.58 $0.00 $384.09 $68,899.31
243 $68,899.31 $584.58 $0.00 $389.57 $69,873.46
244 $69,873.46 $584.58 $0.00 $395.07 $70,853.11
245 $70,853.11 $584.58 $0.00 $400.61 $71,838.30
246 $71,838.30 $584.58 $0.00 $406.18 $72,829.06
247 $72,829.06 $584.58 $0.00 $411.79 $73,825.43
248 $73,825.43 $584.58 $0.00 $417.42 $74,827.43
249 $74,827.43 $584.58 $0.00 $423.09 $75,835.10
250 $75,835.10 $584.58 $0.00 $428.78 $76,848.46
251 $76,848.46 $584.58 $0.00 $434.51 $77,867.55
252 $77,867.55 $584.58 $0.00 $440.27 $78,892.40
253 $78,892.40 $0.00 $79,338.64 $446.07 ($0.17)