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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$71,233
Monthly savings required$564

How much will it cost to send your child to University of Minnesota Twin Cities in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $284,931.26 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $563.87 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$27,469.00
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 $563.87 $0.00 $0.00 $563.87
2 $563.87 $563.87 $0.00 $3.19 $1,130.93
3 $1,130.93 $563.87 $0.00 $6.39 $1,701.19
4 $1,701.19 $563.87 $0.00 $9.62 $2,274.68
5 $2,274.68 $563.87 $0.00 $12.86 $2,851.41
6 $2,851.41 $563.87 $0.00 $16.12 $3,431.40
7 $3,431.40 $563.87 $0.00 $19.40 $4,014.67
8 $4,014.67 $563.87 $0.00 $22.70 $4,601.24
9 $4,601.24 $563.87 $0.00 $26.02 $5,191.13
10 $5,191.13 $563.87 $0.00 $29.35 $5,784.35
11 $5,784.35 $563.87 $0.00 $32.71 $6,380.93
12 $6,380.93 $563.87 $0.00 $36.08 $6,980.88
13 $6,980.88 $563.87 $0.00 $39.47 $7,584.22
14 $7,584.22 $563.87 $0.00 $42.88 $8,190.97
15 $8,190.97 $563.87 $0.00 $46.31 $8,801.15
16 $8,801.15 $563.87 $0.00 $49.76 $9,414.78
17 $9,414.78 $563.87 $0.00 $53.23 $10,031.88
18 $10,031.88 $563.87 $0.00 $56.72 $10,652.47
19 $10,652.47 $563.87 $0.00 $60.23 $11,276.57
20 $11,276.57 $563.87 $0.00 $63.76 $11,904.20
21 $11,904.20 $563.87 $0.00 $67.31 $12,535.38
22 $12,535.38 $563.87 $0.00 $70.88 $13,170.13
23 $13,170.13 $563.87 $0.00 $74.47 $13,808.47
24 $13,808.47 $563.87 $0.00 $78.08 $14,450.42
25 $14,450.42 $563.87 $0.00 $81.70 $15,095.99
26 $15,095.99 $563.87 $0.00 $85.35 $15,745.21
27 $15,745.21 $563.87 $0.00 $89.03 $16,398.11
28 $16,398.11 $563.87 $0.00 $92.72 $17,054.70
29 $17,054.70 $563.87 $0.00 $96.43 $17,715.00
30 $17,715.00 $563.87 $0.00 $100.16 $18,379.03
31 $18,379.03 $563.87 $0.00 $103.92 $19,046.82
32 $19,046.82 $563.87 $0.00 $107.69 $19,718.38
33 $19,718.38 $563.87 $0.00 $111.49 $20,393.74
34 $20,393.74 $563.87 $0.00 $115.31 $21,072.92
35 $21,072.92 $563.87 $0.00 $119.15 $21,755.94
36 $21,755.94 $563.87 $0.00 $123.01 $22,442.82
37 $22,442.82 $563.87 $0.00 $126.89 $23,133.58
38 $23,133.58 $563.87 $0.00 $130.80 $23,828.25
39 $23,828.25 $563.87 $0.00 $134.73 $24,526.85
40 $24,526.85 $563.87 $0.00 $138.68 $25,229.40
41 $25,229.40 $563.87 $0.00 $142.65 $25,935.92
42 $25,935.92 $563.87 $0.00 $146.65 $26,646.44
43 $26,646.44 $563.87 $0.00 $150.66 $27,360.97
44 $27,360.97 $563.87 $0.00 $154.70 $28,079.54
45 $28,079.54 $563.87 $0.00 $158.77 $28,802.18
46 $28,802.18 $563.87 $0.00 $162.85 $29,528.90
47 $29,528.90 $563.87 $0.00 $166.96 $30,259.73
48 $30,259.73 $563.87 $0.00 $171.09 $30,994.69
49 $30,994.69 $563.87 $0.00 $175.25 $31,733.81
50 $31,733.81 $563.87 $0.00 $179.43 $32,477.11
51 $32,477.11 $563.87 $0.00 $183.63 $33,224.61
52 $33,224.61 $563.87 $0.00 $187.86 $33,976.34
53 $33,976.34 $563.87 $0.00 $192.11 $34,732.32
54 $34,732.32 $563.87 $0.00 $196.38 $35,492.57
55 $35,492.57 $563.87 $0.00 $200.68 $36,257.12
56 $36,257.12 $563.87 $0.00 $205.00 $37,025.99
57 $37,025.99 $563.87 $0.00 $209.35 $37,799.21
58 $37,799.21 $563.87 $0.00 $213.72 $38,576.80
59 $38,576.80 $563.87 $0.00 $218.12 $39,358.79
60 $39,358.79 $563.87 $0.00 $222.54 $40,145.20
61 $40,145.20 $563.87 $0.00 $226.99 $40,936.06
62 $40,936.06 $563.87 $0.00 $231.46 $41,731.39
63 $41,731.39 $563.87 $0.00 $235.96 $42,531.22
64 $42,531.22 $563.87 $0.00 $240.48 $43,335.57
65 $43,335.57 $563.87 $0.00 $245.03 $44,144.47
66 $44,144.47 $563.87 $0.00 $249.60 $44,957.94
67 $44,957.94 $563.87 $0.00 $254.20 $45,776.01
68 $45,776.01 $563.87 $0.00 $258.82 $46,598.70
69 $46,598.70 $563.87 $0.00 $263.48 $47,426.05
70 $47,426.05 $563.87 $0.00 $268.15 $48,258.07
71 $48,258.07 $563.87 $0.00 $272.86 $49,094.80
72 $49,094.80 $563.87 $0.00 $277.59 $49,936.26
73 $49,936.26 $563.87 $0.00 $282.35 $50,782.48
74 $50,782.48 $563.87 $0.00 $287.13 $51,633.48
75 $51,633.48 $563.87 $0.00 $291.94 $52,489.29
76 $52,489.29 $563.87 $0.00 $296.78 $53,349.94
77 $53,349.94 $563.87 $0.00 $301.65 $54,215.46
78 $54,215.46 $563.87 $0.00 $306.54 $55,085.87
79 $55,085.87 $563.87 $0.00 $311.46 $55,961.20
80 $55,961.20 $563.87 $0.00 $316.41 $56,841.48
81 $56,841.48 $563.87 $0.00 $321.39 $57,726.74
82 $57,726.74 $563.87 $0.00 $326.40 $58,617.01
83 $58,617.01 $563.87 $0.00 $331.43 $59,512.31
84 $59,512.31 $563.87 $0.00 $336.49 $60,412.67
85 $60,412.67 $563.87 $0.00 $341.58 $61,318.12
86 $61,318.12 $563.87 $0.00 $346.70 $62,228.69
87 $62,228.69 $563.87 $0.00 $351.85 $63,144.41
88 $63,144.41 $563.87 $0.00 $357.03 $64,065.31
89 $64,065.31 $563.87 $0.00 $362.23 $64,991.41
90 $64,991.41 $563.87 $0.00 $367.47 $65,922.75
91 $65,922.75 $563.87 $0.00 $372.74 $66,859.36
92 $66,859.36 $563.87 $0.00 $378.03 $67,801.26
93 $67,801.26 $563.87 $0.00 $383.36 $68,748.49
94 $68,748.49 $563.87 $0.00 $388.71 $69,701.07
95 $69,701.07 $563.87 $0.00 $394.10 $70,659.04
96 $70,659.04 $563.87 $0.00 $399.52 $71,622.43
97 $71,622.43 $563.87 $0.00 $404.96 $72,591.26
98 $72,591.26 $563.87 $0.00 $410.44 $73,565.57
99 $73,565.57 $563.87 $0.00 $415.95 $74,545.39
100 $74,545.39 $563.87 $0.00 $421.49 $75,530.75
101 $75,530.75 $563.87 $0.00 $427.06 $76,521.68
102 $76,521.68 $563.87 $0.00 $432.66 $77,518.21
103 $77,518.21 $563.87 $0.00 $438.30 $78,520.38
104 $78,520.38 $563.87 $0.00 $443.97 $79,528.22
105 $79,528.22 $563.87 $0.00 $449.66 $80,541.75
106 $80,541.75 $563.87 $0.00 $455.39 $81,561.01
107 $81,561.01 $563.87 $0.00 $461.16 $82,586.04
108 $82,586.04 $563.87 $0.00 $466.95 $83,616.86
109 $83,616.86 $563.87 $0.00 $472.78 $84,653.51
110 $84,653.51 $563.87 $0.00 $478.64 $85,696.02
111 $85,696.02 $563.87 $0.00 $484.54 $86,744.43
112 $86,744.43 $563.87 $0.00 $490.47 $87,798.77
113 $87,798.77 $563.87 $0.00 $496.43 $88,859.07
114 $88,859.07 $563.87 $0.00 $502.42 $89,925.36
115 $89,925.36 $563.87 $0.00 $508.45 $90,997.68
116 $90,997.68 $563.87 $0.00 $514.51 $92,076.06
117 $92,076.06 $563.87 $0.00 $520.61 $93,160.54
118 $93,160.54 $563.87 $0.00 $526.74 $94,251.15
119 $94,251.15 $563.87 $0.00 $532.91 $95,347.93
120 $95,347.93 $563.87 $0.00 $539.11 $96,450.91
121 $96,450.91 $563.87 $0.00 $545.35 $97,560.13
122 $97,560.13 $563.87 $0.00 $551.62 $98,675.62
123 $98,675.62 $563.87 $0.00 $557.93 $99,797.42
124 $99,797.42 $563.87 $0.00 $564.27 $100,925.56
125 $100,925.56 $563.87 $0.00 $570.65 $102,060.08
126 $102,060.08 $563.87 $0.00 $577.06 $103,201.01
127 $103,201.01 $563.87 $0.00 $583.51 $104,348.39
128 $104,348.39 $563.87 $0.00 $590.00 $105,502.26
129 $105,502.26 $563.87 $0.00 $596.53 $106,662.66
130 $106,662.66 $563.87 $0.00 $603.09 $107,829.62
131 $107,829.62 $563.87 $0.00 $609.68 $109,003.17
132 $109,003.17 $563.87 $0.00 $616.32 $110,183.36
133 $110,183.36 $563.87 $0.00 $622.99 $111,370.22
134 $111,370.22 $563.87 $0.00 $629.70 $112,563.79
135 $112,563.79 $563.87 $0.00 $636.45 $113,764.11
136 $113,764.11 $563.87 $0.00 $643.24 $114,971.22
137 $114,971.22 $563.87 $0.00 $650.06 $116,185.15
138 $116,185.15 $563.87 $0.00 $656.93 $117,405.95
139 $117,405.95 $563.87 $0.00 $663.83 $118,633.65
140 $118,633.65 $563.87 $0.00 $670.77 $119,868.29
141 $119,868.29 $563.87 $0.00 $677.75 $121,109.91
142 $121,109.91 $563.87 $0.00 $684.77 $122,358.55
143 $122,358.55 $563.87 $0.00 $691.83 $123,614.25
144 $123,614.25 $563.87 $0.00 $698.93 $124,877.05
145 $124,877.05 $563.87 $0.00 $706.07 $126,146.99
146 $126,146.99 $563.87 $0.00 $713.25 $127,424.11
147 $127,424.11 $563.87 $0.00 $720.47 $128,708.45
148 $128,708.45 $563.87 $0.00 $727.74 $130,000.06
149 $130,000.06 $563.87 $0.00 $735.04 $131,298.97
150 $131,298.97 $563.87 $0.00 $742.38 $132,605.22
151 $132,605.22 $563.87 $0.00 $749.77 $133,918.86
152 $133,918.86 $563.87 $0.00 $757.20 $135,239.93
153 $135,239.93 $563.87 $0.00 $764.67 $136,568.47
154 $136,568.47 $563.87 $0.00 $772.18 $137,904.52
155 $137,904.52 $563.87 $0.00 $779.73 $139,248.12
156 $139,248.12 $563.87 $0.00 $787.33 $140,599.32
157 $140,599.32 $563.87 $0.00 $794.97 $141,958.16
158 $141,958.16 $563.87 $0.00 $802.65 $143,324.68
159 $143,324.68 $563.87 $0.00 $810.38 $144,698.93
160 $144,698.93 $563.87 $0.00 $818.15 $146,080.95
161 $146,080.95 $563.87 $0.00 $825.96 $147,470.78
162 $147,470.78 $563.87 $0.00 $833.82 $148,868.47
163 $148,868.47 $563.87 $0.00 $841.72 $150,274.06
164 $150,274.06 $563.87 $0.00 $849.67 $151,687.60
165 $151,687.60 $563.87 $0.00 $857.66 $153,109.13
166 $153,109.13 $563.87 $0.00 $865.70 $154,538.70
167 $154,538.70 $563.87 $0.00 $873.78 $155,976.35
168 $155,976.35 $563.87 $0.00 $881.91 $157,422.13
169 $157,422.13 $563.87 $0.00 $890.09 $158,876.09
170 $158,876.09 $563.87 $0.00 $898.31 $160,338.27
171 $160,338.27 $563.87 $0.00 $906.58 $161,808.72
172 $161,808.72 $563.87 $0.00 $914.89 $163,287.48
173 $163,287.48 $563.87 $0.00 $923.25 $164,774.60
174 $164,774.60 $563.87 $0.00 $931.66 $166,270.13
175 $166,270.13 $563.87 $0.00 $940.12 $167,774.12
176 $167,774.12 $563.87 $0.00 $948.62 $169,286.61
177 $169,286.61 $563.87 $0.00 $957.17 $170,807.65
178 $170,807.65 $563.87 $0.00 $965.77 $172,337.29
179 $172,337.29 $563.87 $0.00 $974.42 $173,875.58
180 $173,875.58 $563.87 $0.00 $983.12 $175,422.57
181 $175,422.57 $563.87 $0.00 $991.86 $176,978.30
182 $176,978.30 $563.87 $0.00 $1,000.66 $178,542.83
183 $178,542.83 $563.87 $0.00 $1,009.51 $180,116.21
184 $180,116.21 $563.87 $0.00 $1,018.40 $181,698.48
185 $181,698.48 $563.87 $0.00 $1,027.35 $183,289.70
186 $183,289.70 $563.87 $0.00 $1,036.35 $184,889.92
187 $184,889.92 $563.87 $0.00 $1,045.39 $186,499.18
188 $186,499.18 $563.87 $0.00 $1,054.49 $188,117.54
189 $188,117.54 $563.87 $0.00 $1,063.64 $189,745.05
190 $189,745.05 $563.87 $0.00 $1,072.85 $191,381.77
191 $191,381.77 $563.87 $0.00 $1,082.10 $193,027.74
192 $193,027.74 $563.87 $0.00 $1,091.41 $194,683.02
193 $194,683.02 $563.87 $0.00 $1,100.77 $196,347.66
194 $196,347.66 $563.87 $0.00 $1,110.18 $198,021.71
195 $198,021.71 $563.87 $0.00 $1,119.64 $199,705.22
196 $199,705.22 $563.87 $0.00 $1,129.16 $201,398.25
197 $201,398.25 $563.87 $0.00 $1,138.73 $203,100.85
198 $203,100.85 $563.87 $0.00 $1,148.36 $204,813.08
199 $204,813.08 $563.87 $0.00 $1,158.04 $206,534.99
200 $206,534.99 $563.87 $0.00 $1,167.78 $208,266.64
201 $208,266.64 $563.87 $0.00 $1,177.57 $210,008.08
202 $210,008.08 $563.87 $0.00 $1,187.42 $211,759.37
203 $211,759.37 $563.87 $0.00 $1,197.32 $213,520.56
204 $213,520.56 $563.87 $0.00 $1,207.28 $215,291.71
205 $215,291.71 $563.87 $0.00 $1,217.29 $217,072.87
206 $217,072.87 $563.87 $0.00 $1,227.36 $218,864.10
207 $218,864.10 $563.87 $0.00 $1,237.49 $220,665.46
208 $220,665.46 $563.87 $0.00 $1,247.67 $222,477.00
209 $222,477.00 $563.87 $0.00 $1,257.92 $224,298.79
210 $224,298.79 $563.87 $0.00 $1,268.22 $226,130.88
211 $226,130.88 $563.87 $0.00 $1,278.58 $227,973.33
212 $227,973.33 $563.87 $0.00 $1,288.99 $229,826.19
213 $229,826.19 $563.87 $0.00 $1,299.47 $231,689.53
214 $231,689.53 $563.87 $0.00 $1,310.01 $233,563.41
215 $233,563.41 $563.87 $0.00 $1,320.60 $235,447.88
216 $235,447.88 $563.87 $0.00 $1,331.26 $237,343.01
217 $237,343.01 $563.87 $66,107.42 $1,341.97 $173,141.43
218 $173,141.43 $563.87 $0.00 $978.97 $174,684.27
219 $174,684.27 $563.87 $0.00 $987.69 $176,235.83
220 $176,235.83 $563.87 $0.00 $996.46 $177,796.16
221 $177,796.16 $563.87 $0.00 $1,005.29 $179,365.32
222 $179,365.32 $563.87 $0.00 $1,014.16 $180,943.35
223 $180,943.35 $563.87 $0.00 $1,023.08 $182,530.30
224 $182,530.30 $563.87 $0.00 $1,032.05 $184,126.22
225 $184,126.22 $563.87 $0.00 $1,041.08 $185,731.17
226 $185,731.17 $563.87 $0.00 $1,050.15 $187,345.19
227 $187,345.19 $563.87 $0.00 $1,059.28 $188,968.34
228 $188,968.34 $563.87 $0.00 $1,068.45 $190,600.66
229 $190,600.66 $563.87 $69,412.79 $1,077.68 $122,829.42
230 $122,829.42 $563.87 $0.00 $694.50 $124,087.79
231 $124,087.79 $563.87 $0.00 $701.61 $125,353.27
232 $125,353.27 $563.87 $0.00 $708.77 $126,625.91
233 $126,625.91 $563.87 $0.00 $715.96 $127,905.74
234 $127,905.74 $563.87 $0.00 $723.20 $129,192.81
235 $129,192.81 $563.87 $0.00 $730.47 $130,487.15
236 $130,487.15 $563.87 $0.00 $737.79 $131,788.81
237 $131,788.81 $563.87 $0.00 $745.15 $133,097.83
238 $133,097.83 $563.87 $0.00 $752.55 $134,414.25
239 $134,414.25 $563.87 $0.00 $760.00 $135,738.12
240 $135,738.12 $563.87 $0.00 $767.48 $137,069.47
241 $137,069.47 $563.87 $72,883.43 $775.01 $65,524.92
242 $65,524.92 $563.87 $0.00 $370.49 $66,459.28
243 $66,459.28 $563.87 $0.00 $375.77 $67,398.92
244 $67,398.92 $563.87 $0.00 $381.08 $68,343.87
245 $68,343.87 $563.87 $0.00 $386.43 $69,294.17
246 $69,294.17 $563.87 $0.00 $391.80 $70,249.84
247 $70,249.84 $563.87 $0.00 $397.20 $71,210.91
248 $71,210.91 $563.87 $0.00 $402.64 $72,177.42
249 $72,177.42 $563.87 $0.00 $408.10 $73,149.39
250 $73,149.39 $563.87 $0.00 $413.60 $74,126.86
251 $74,126.86 $563.87 $0.00 $419.12 $75,109.85
252 $75,109.85 $563.87 $0.00 $424.68 $76,098.40
253 $76,098.40 $0.00 $76,527.61 $430.27 $1.06