Savings Plan and Future Cost Estimation for Southwest Minnesota State University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$87,016
Monthly savings required$688

How much will it cost to send your child to Southwest Minnesota State University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $348,065.55 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $687.71 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$23,194.00
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 $687.71 $0.00 $0.00 $687.71
2 $687.71 $687.71 $0.00 $3.89 $1,379.31
3 $1,379.31 $687.71 $0.00 $7.80 $2,074.82
4 $2,074.82 $687.71 $0.00 $11.73 $2,774.26
5 $2,774.26 $687.71 $0.00 $15.69 $3,477.66
6 $3,477.66 $687.71 $0.00 $19.66 $4,185.03
7 $4,185.03 $687.71 $0.00 $23.66 $4,896.40
8 $4,896.40 $687.71 $0.00 $27.68 $5,611.79
9 $5,611.79 $687.71 $0.00 $31.73 $6,331.23
10 $6,331.23 $687.71 $0.00 $35.80 $7,054.74
11 $7,054.74 $687.71 $0.00 $39.89 $7,782.34
12 $7,782.34 $687.71 $0.00 $44.00 $8,514.05
13 $8,514.05 $687.71 $0.00 $48.14 $9,249.90
14 $9,249.90 $687.71 $0.00 $52.30 $9,989.91
15 $9,989.91 $687.71 $0.00 $56.48 $10,734.10
16 $10,734.10 $687.71 $0.00 $60.69 $11,482.50
17 $11,482.50 $687.71 $0.00 $64.92 $12,235.13
18 $12,235.13 $687.71 $0.00 $69.18 $12,992.02
19 $12,992.02 $687.71 $0.00 $73.46 $13,753.19
20 $13,753.19 $687.71 $0.00 $77.76 $14,518.66
21 $14,518.66 $687.71 $0.00 $82.09 $15,288.46
22 $15,288.46 $687.71 $0.00 $86.44 $16,062.61
23 $16,062.61 $687.71 $0.00 $90.82 $16,841.14
24 $16,841.14 $687.71 $0.00 $95.22 $17,624.07
25 $17,624.07 $687.71 $0.00 $99.65 $18,411.43
26 $18,411.43 $687.71 $0.00 $104.10 $19,203.24
27 $19,203.24 $687.71 $0.00 $108.58 $19,999.53
28 $19,999.53 $687.71 $0.00 $113.08 $20,800.32
29 $20,800.32 $687.71 $0.00 $117.61 $21,605.64
30 $21,605.64 $687.71 $0.00 $122.16 $22,415.51
31 $22,415.51 $687.71 $0.00 $126.74 $23,229.96
32 $23,229.96 $687.71 $0.00 $131.35 $24,049.02
33 $24,049.02 $687.71 $0.00 $135.98 $24,872.71
34 $24,872.71 $687.71 $0.00 $140.63 $25,701.05
35 $25,701.05 $687.71 $0.00 $145.32 $26,534.08
36 $26,534.08 $687.71 $0.00 $150.03 $27,371.82
37 $27,371.82 $687.71 $0.00 $154.76 $28,214.29
38 $28,214.29 $687.71 $0.00 $159.53 $29,061.53
39 $29,061.53 $687.71 $0.00 $164.32 $29,913.56
40 $29,913.56 $687.71 $0.00 $169.14 $30,770.41
41 $30,770.41 $687.71 $0.00 $173.98 $31,632.10
42 $31,632.10 $687.71 $0.00 $178.85 $32,498.66
43 $32,498.66 $687.71 $0.00 $183.75 $33,370.12
44 $33,370.12 $687.71 $0.00 $188.68 $34,246.51
45 $34,246.51 $687.71 $0.00 $193.63 $35,127.85
46 $35,127.85 $687.71 $0.00 $198.62 $36,014.18
47 $36,014.18 $687.71 $0.00 $203.63 $36,905.52
48 $36,905.52 $687.71 $0.00 $208.67 $37,801.90
49 $37,801.90 $687.71 $0.00 $213.74 $38,703.35
50 $38,703.35 $687.71 $0.00 $218.83 $39,609.89
51 $39,609.89 $687.71 $0.00 $223.96 $40,521.56
52 $40,521.56 $687.71 $0.00 $229.11 $41,438.38
53 $41,438.38 $687.71 $0.00 $234.30 $42,360.39
54 $42,360.39 $687.71 $0.00 $239.51 $43,287.61
55 $43,287.61 $687.71 $0.00 $244.75 $44,220.07
56 $44,220.07 $687.71 $0.00 $250.03 $45,157.81
57 $45,157.81 $687.71 $0.00 $255.33 $46,100.85
58 $46,100.85 $687.71 $0.00 $260.66 $47,049.22
59 $47,049.22 $687.71 $0.00 $266.02 $48,002.95
60 $48,002.95 $687.71 $0.00 $271.42 $48,962.08
61 $48,962.08 $687.71 $0.00 $276.84 $49,926.63
62 $49,926.63 $687.71 $0.00 $282.29 $50,896.63
63 $50,896.63 $687.71 $0.00 $287.78 $51,872.12
64 $51,872.12 $687.71 $0.00 $293.29 $52,853.12
65 $52,853.12 $687.71 $0.00 $298.84 $53,839.67
66 $53,839.67 $687.71 $0.00 $304.42 $54,831.80
67 $54,831.80 $687.71 $0.00 $310.03 $55,829.54
68 $55,829.54 $687.71 $0.00 $315.67 $56,832.92
69 $56,832.92 $687.71 $0.00 $321.34 $57,841.97
70 $57,841.97 $687.71 $0.00 $327.05 $58,856.73
71 $58,856.73 $687.71 $0.00 $332.78 $59,877.22
72 $59,877.22 $687.71 $0.00 $338.55 $60,903.48
73 $60,903.48 $687.71 $0.00 $344.36 $61,935.55
74 $61,935.55 $687.71 $0.00 $350.19 $62,973.45
75 $62,973.45 $687.71 $0.00 $356.06 $64,017.22
76 $64,017.22 $687.71 $0.00 $361.96 $65,066.89
77 $65,066.89 $687.71 $0.00 $367.90 $66,122.50
78 $66,122.50 $687.71 $0.00 $373.87 $67,184.08
79 $67,184.08 $687.71 $0.00 $379.87 $68,251.66
80 $68,251.66 $687.71 $0.00 $385.90 $69,325.27
81 $69,325.27 $687.71 $0.00 $391.98 $70,404.96
82 $70,404.96 $687.71 $0.00 $398.08 $71,490.75
83 $71,490.75 $687.71 $0.00 $404.22 $72,582.68
84 $72,582.68 $687.71 $0.00 $410.39 $73,680.78
85 $73,680.78 $687.71 $0.00 $416.60 $74,785.09
86 $74,785.09 $687.71 $0.00 $422.85 $75,895.65
87 $75,895.65 $687.71 $0.00 $429.13 $77,012.49
88 $77,012.49 $687.71 $0.00 $435.44 $78,135.64
89 $78,135.64 $687.71 $0.00 $441.79 $79,265.14
90 $79,265.14 $687.71 $0.00 $448.18 $80,401.03
91 $80,401.03 $687.71 $0.00 $454.60 $81,543.34
92 $81,543.34 $687.71 $0.00 $461.06 $82,692.11
93 $82,692.11 $687.71 $0.00 $467.55 $83,847.37
94 $83,847.37 $687.71 $0.00 $474.09 $85,009.17
95 $85,009.17 $687.71 $0.00 $480.65 $86,177.53
96 $86,177.53 $687.71 $0.00 $487.26 $87,352.50
97 $87,352.50 $687.71 $0.00 $493.90 $88,534.11
98 $88,534.11 $687.71 $0.00 $500.58 $89,722.40
99 $89,722.40 $687.71 $0.00 $507.30 $90,917.41
100 $90,917.41 $687.71 $0.00 $514.06 $92,119.18
101 $92,119.18 $687.71 $0.00 $520.86 $93,327.75
102 $93,327.75 $687.71 $0.00 $527.69 $94,543.15
103 $94,543.15 $687.71 $0.00 $534.56 $95,765.42
104 $95,765.42 $687.71 $0.00 $541.47 $96,994.60
105 $96,994.60 $687.71 $0.00 $548.42 $98,230.73
106 $98,230.73 $687.71 $0.00 $555.41 $99,473.85
107 $99,473.85 $687.71 $0.00 $562.44 $100,724.00
108 $100,724.00 $687.71 $0.00 $569.51 $101,981.22
109 $101,981.22 $687.71 $0.00 $576.62 $103,245.55
110 $103,245.55 $687.71 $0.00 $583.77 $104,517.03
111 $104,517.03 $687.71 $0.00 $590.95 $105,795.69
112 $105,795.69 $687.71 $0.00 $598.18 $107,081.58
113 $107,081.58 $687.71 $0.00 $605.45 $108,374.74
114 $108,374.74 $687.71 $0.00 $612.77 $109,675.22
115 $109,675.22 $687.71 $0.00 $620.12 $110,983.05
116 $110,983.05 $687.71 $0.00 $627.51 $112,298.27
117 $112,298.27 $687.71 $0.00 $634.95 $113,620.93
118 $113,620.93 $687.71 $0.00 $642.43 $114,951.07
119 $114,951.07 $687.71 $0.00 $649.95 $116,288.73
120 $116,288.73 $687.71 $0.00 $657.51 $117,633.95
121 $117,633.95 $687.71 $0.00 $665.12 $118,986.78
122 $118,986.78 $687.71 $0.00 $672.77 $120,347.26
123 $120,347.26 $687.71 $0.00 $680.46 $121,715.43
124 $121,715.43 $687.71 $0.00 $688.20 $123,091.34
125 $123,091.34 $687.71 $0.00 $695.98 $124,475.03
126 $124,475.03 $687.71 $0.00 $703.80 $125,866.54
127 $125,866.54 $687.71 $0.00 $711.67 $127,265.92
128 $127,265.92 $687.71 $0.00 $719.58 $128,673.21
129 $128,673.21 $687.71 $0.00 $727.54 $130,088.46
130 $130,088.46 $687.71 $0.00 $735.54 $131,511.71
131 $131,511.71 $687.71 $0.00 $743.59 $132,943.01
132 $132,943.01 $687.71 $0.00 $751.68 $134,382.40
133 $134,382.40 $687.71 $0.00 $759.82 $135,829.93
134 $135,829.93 $687.71 $0.00 $768.00 $137,285.64
135 $137,285.64 $687.71 $0.00 $776.23 $138,749.58
136 $138,749.58 $687.71 $0.00 $784.51 $140,221.80
137 $140,221.80 $687.71 $0.00 $792.83 $141,702.34
138 $141,702.34 $687.71 $0.00 $801.21 $143,191.26
139 $143,191.26 $687.71 $0.00 $809.62 $144,688.59
140 $144,688.59 $687.71 $0.00 $818.09 $146,194.39
141 $146,194.39 $687.71 $0.00 $826.60 $147,708.70
142 $147,708.70 $687.71 $0.00 $835.17 $149,231.58
143 $149,231.58 $687.71 $0.00 $843.78 $150,763.07
144 $150,763.07 $687.71 $0.00 $852.44 $152,303.22
145 $152,303.22 $687.71 $0.00 $861.14 $153,852.07
146 $153,852.07 $687.71 $0.00 $869.90 $155,409.68
147 $155,409.68 $687.71 $0.00 $878.71 $156,976.10
148 $156,976.10 $687.71 $0.00 $887.57 $158,551.38
149 $158,551.38 $687.71 $0.00 $896.47 $160,135.56
150 $160,135.56 $687.71 $0.00 $905.43 $161,728.70
151 $161,728.70 $687.71 $0.00 $914.44 $163,330.85
152 $163,330.85 $687.71 $0.00 $923.50 $164,942.06
153 $164,942.06 $687.71 $0.00 $932.61 $166,562.38
154 $166,562.38 $687.71 $0.00 $941.77 $168,191.86
155 $168,191.86 $687.71 $0.00 $950.98 $169,830.55
156 $169,830.55 $687.71 $0.00 $960.25 $171,478.51
157 $171,478.51 $687.71 $0.00 $969.56 $173,135.78
158 $173,135.78 $687.71 $0.00 $978.93 $174,802.42
159 $174,802.42 $687.71 $0.00 $988.36 $176,478.49
160 $176,478.49 $687.71 $0.00 $997.84 $178,164.04
161 $178,164.04 $687.71 $0.00 $1,007.37 $179,859.12
162 $179,859.12 $687.71 $0.00 $1,016.95 $181,563.78
163 $181,563.78 $687.71 $0.00 $1,026.59 $183,278.08
164 $183,278.08 $687.71 $0.00 $1,036.28 $185,002.07
165 $185,002.07 $687.71 $0.00 $1,046.03 $186,735.81
166 $186,735.81 $687.71 $0.00 $1,055.83 $188,479.35
167 $188,479.35 $687.71 $0.00 $1,065.69 $190,232.75
168 $190,232.75 $687.71 $0.00 $1,075.60 $191,996.06
169 $191,996.06 $687.71 $0.00 $1,085.57 $193,769.34
170 $193,769.34 $687.71 $0.00 $1,095.60 $195,552.65
171 $195,552.65 $687.71 $0.00 $1,105.68 $197,346.04
172 $197,346.04 $687.71 $0.00 $1,115.82 $199,149.57
173 $199,149.57 $687.71 $0.00 $1,126.02 $200,963.30
174 $200,963.30 $687.71 $0.00 $1,136.28 $202,787.29
175 $202,787.29 $687.71 $0.00 $1,146.59 $204,621.59
176 $204,621.59 $687.71 $0.00 $1,156.96 $206,466.26
177 $206,466.26 $687.71 $0.00 $1,167.39 $208,321.36
178 $208,321.36 $687.71 $0.00 $1,177.88 $210,186.95
179 $210,186.95 $687.71 $0.00 $1,188.43 $212,063.09
180 $212,063.09 $687.71 $0.00 $1,199.04 $213,949.84
181 $213,949.84 $687.71 $0.00 $1,209.70 $215,847.25
182 $215,847.25 $687.71 $0.00 $1,220.43 $217,755.39
183 $217,755.39 $687.71 $0.00 $1,231.22 $219,674.32
184 $219,674.32 $687.71 $0.00 $1,242.07 $221,604.10
185 $221,604.10 $687.71 $0.00 $1,252.98 $223,544.79
186 $223,544.79 $687.71 $0.00 $1,263.95 $225,496.45
187 $225,496.45 $687.71 $0.00 $1,274.99 $227,459.15
188 $227,459.15 $687.71 $0.00 $1,286.09 $229,432.95
189 $229,432.95 $687.71 $0.00 $1,297.25 $231,417.91
190 $231,417.91 $687.71 $0.00 $1,308.47 $233,414.09
191 $233,414.09 $687.71 $0.00 $1,319.76 $235,421.56
192 $235,421.56 $687.71 $0.00 $1,331.11 $237,440.38
193 $237,440.38 $687.71 $0.00 $1,342.52 $239,470.61
194 $239,470.61 $687.71 $0.00 $1,354.00 $241,512.32
195 $241,512.32 $687.71 $0.00 $1,365.55 $243,565.58
196 $243,565.58 $687.71 $0.00 $1,377.16 $245,630.45
197 $245,630.45 $687.71 $0.00 $1,388.83 $247,706.99
198 $247,706.99 $687.71 $0.00 $1,400.57 $249,795.27
199 $249,795.27 $687.71 $0.00 $1,412.38 $251,895.36
200 $251,895.36 $687.71 $0.00 $1,424.25 $254,007.32
201 $254,007.32 $687.71 $0.00 $1,436.19 $256,131.22
202 $256,131.22 $687.71 $0.00 $1,448.20 $258,267.13
203 $258,267.13 $687.71 $0.00 $1,460.28 $260,415.12
204 $260,415.12 $687.71 $0.00 $1,472.42 $262,575.25
205 $262,575.25 $687.71 $0.00 $1,484.64 $264,747.60
206 $264,747.60 $687.71 $0.00 $1,496.92 $266,932.23
207 $266,932.23 $687.71 $0.00 $1,509.27 $269,129.21
208 $269,129.21 $687.71 $0.00 $1,521.70 $271,338.62
209 $271,338.62 $687.71 $0.00 $1,534.19 $273,560.52
210 $273,560.52 $687.71 $0.00 $1,546.75 $275,794.98
211 $275,794.98 $687.71 $0.00 $1,559.38 $278,042.07
212 $278,042.07 $687.71 $0.00 $1,572.09 $280,301.87
213 $280,301.87 $687.71 $0.00 $1,584.87 $282,574.45
214 $282,574.45 $687.71 $0.00 $1,597.72 $284,859.88
215 $284,859.88 $687.71 $0.00 $1,610.64 $287,158.23
216 $287,158.23 $687.71 $0.00 $1,623.63 $289,469.57
217 $289,469.57 $687.71 $78,394.15 $1,636.70 $213,399.83
218 $213,399.83 $687.71 $0.00 $1,206.59 $215,294.13
219 $215,294.13 $687.71 $0.00 $1,217.30 $217,199.14
220 $217,199.14 $687.71 $0.00 $1,228.08 $219,114.93
221 $219,114.93 $687.71 $0.00 $1,238.91 $221,041.55
222 $221,041.55 $687.71 $0.00 $1,249.80 $222,979.06
223 $222,979.06 $687.71 $0.00 $1,260.76 $224,927.53
224 $224,927.53 $687.71 $0.00 $1,271.77 $226,887.01
225 $226,887.01 $687.71 $0.00 $1,282.85 $228,857.57
226 $228,857.57 $687.71 $0.00 $1,293.99 $230,839.27
227 $230,839.27 $687.71 $0.00 $1,305.20 $232,832.18
228 $232,832.18 $687.71 $0.00 $1,316.47 $234,836.36
229 $234,836.36 $687.71 $83,881.74 $1,327.80 $152,970.13
230 $152,970.13 $687.71 $0.00 $864.92 $154,522.76
231 $154,522.76 $687.71 $0.00 $873.69 $156,084.16
232 $156,084.16 $687.71 $0.00 $882.52 $157,654.39
233 $157,654.39 $687.71 $0.00 $891.40 $159,233.50
234 $159,233.50 $687.71 $0.00 $900.33 $160,821.54
235 $160,821.54 $687.71 $0.00 $909.31 $162,418.56
236 $162,418.56 $687.71 $0.00 $918.34 $164,024.61
237 $164,024.61 $687.71 $0.00 $927.42 $165,639.74
238 $165,639.74 $687.71 $0.00 $936.55 $167,264.00
239 $167,264.00 $687.71 $0.00 $945.73 $168,897.44
240 $168,897.44 $687.71 $0.00 $954.97 $170,540.12
241 $170,540.12 $687.71 $89,753.46 $964.26 $82,438.63
242 $82,438.63 $687.71 $0.00 $466.12 $83,592.46
243 $83,592.46 $687.71 $0.00 $472.64 $84,752.81
244 $84,752.81 $687.71 $0.00 $479.20 $85,919.72
245 $85,919.72 $687.71 $0.00 $485.80 $87,093.23
246 $87,093.23 $687.71 $0.00 $492.44 $88,273.38
247 $88,273.38 $687.71 $0.00 $499.11 $89,460.20
248 $89,460.20 $687.71 $0.00 $505.82 $90,653.73
249 $90,653.73 $687.71 $0.00 $512.57 $91,854.01
250 $91,854.01 $687.71 $0.00 $519.36 $93,061.08
251 $93,061.08 $687.71 $0.00 $526.18 $94,274.97
252 $94,274.97 $687.71 $0.00 $533.04 $95,495.72
253 $95,495.72 $0.00 $96,036.20 $539.95 -$0.53