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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$112,545
Monthly savings required$891

How much will it cost to send your child to Midland University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $450,180.81 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $890.90 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$43,400.00
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 $890.90 $0.00 $0.00 $890.90
2 $890.90 $890.90 $0.00 $5.04 $1,786.84
3 $1,786.84 $890.90 $0.00 $10.10 $2,687.84
4 $2,687.84 $890.90 $0.00 $15.20 $3,593.94
5 $3,593.94 $890.90 $0.00 $20.32 $4,505.16
6 $4,505.16 $890.90 $0.00 $25.47 $5,421.53
7 $5,421.53 $890.90 $0.00 $30.65 $6,343.08
8 $6,343.08 $890.90 $0.00 $35.86 $7,269.84
9 $7,269.84 $890.90 $0.00 $41.10 $8,201.84
10 $8,201.84 $890.90 $0.00 $46.37 $9,139.11
11 $9,139.11 $890.90 $0.00 $51.67 $10,081.68
12 $10,081.68 $890.90 $0.00 $57.00 $11,029.58
13 $11,029.58 $890.90 $0.00 $62.36 $11,982.84
14 $11,982.84 $890.90 $0.00 $67.75 $12,941.49
15 $12,941.49 $890.90 $0.00 $73.17 $13,905.56
16 $13,905.56 $890.90 $0.00 $78.62 $14,875.08
17 $14,875.08 $890.90 $0.00 $84.11 $15,850.09
18 $15,850.09 $890.90 $0.00 $89.62 $16,830.61
19 $16,830.61 $890.90 $0.00 $95.16 $17,816.67
20 $17,816.67 $890.90 $0.00 $100.74 $18,808.31
21 $18,808.31 $890.90 $0.00 $106.34 $19,805.55
22 $19,805.55 $890.90 $0.00 $111.98 $20,808.43
23 $20,808.43 $890.90 $0.00 $117.65 $21,816.98
24 $21,816.98 $890.90 $0.00 $123.36 $22,831.24
25 $22,831.24 $890.90 $0.00 $129.09 $23,851.23
26 $23,851.23 $890.90 $0.00 $134.86 $24,876.99
27 $24,876.99 $890.90 $0.00 $140.66 $25,908.55
28 $25,908.55 $890.90 $0.00 $146.49 $26,945.94
29 $26,945.94 $890.90 $0.00 $152.36 $27,989.20
30 $27,989.20 $890.90 $0.00 $158.26 $29,038.36
31 $29,038.36 $890.90 $0.00 $164.19 $30,093.45
32 $30,093.45 $890.90 $0.00 $170.15 $31,154.50
33 $31,154.50 $890.90 $0.00 $176.15 $32,221.55
34 $32,221.55 $890.90 $0.00 $182.19 $33,294.64
35 $33,294.64 $890.90 $0.00 $188.25 $34,373.79
36 $34,373.79 $890.90 $0.00 $194.35 $35,459.04
37 $35,459.04 $890.90 $0.00 $200.49 $36,550.43
38 $36,550.43 $890.90 $0.00 $206.66 $37,647.99
39 $37,647.99 $890.90 $0.00 $212.87 $38,751.76
40 $38,751.76 $890.90 $0.00 $219.11 $39,861.77
41 $39,861.77 $890.90 $0.00 $225.38 $40,978.05
42 $40,978.05 $890.90 $0.00 $231.70 $42,100.65
43 $42,100.65 $890.90 $0.00 $238.04 $43,229.59
44 $43,229.59 $890.90 $0.00 $244.43 $44,364.92
45 $44,364.92 $890.90 $0.00 $250.85 $45,506.67
46 $45,506.67 $890.90 $0.00 $257.30 $46,654.87
47 $46,654.87 $890.90 $0.00 $263.79 $47,809.56
48 $47,809.56 $890.90 $0.00 $270.32 $48,970.78
49 $48,970.78 $890.90 $0.00 $276.89 $50,138.57
50 $50,138.57 $890.90 $0.00 $283.49 $51,312.96
51 $51,312.96 $890.90 $0.00 $290.13 $52,493.99
52 $52,493.99 $890.90 $0.00 $296.81 $53,681.70
53 $53,681.70 $890.90 $0.00 $303.52 $54,876.12
54 $54,876.12 $890.90 $0.00 $310.28 $56,077.30
55 $56,077.30 $890.90 $0.00 $317.07 $57,285.27
56 $57,285.27 $890.90 $0.00 $323.90 $58,500.07
57 $58,500.07 $890.90 $0.00 $330.77 $59,721.74
58 $59,721.74 $890.90 $0.00 $337.68 $60,950.32
59 $60,950.32 $890.90 $0.00 $344.62 $62,185.84
60 $62,185.84 $890.90 $0.00 $351.61 $63,428.35
61 $63,428.35 $890.90 $0.00 $358.63 $64,677.88
62 $64,677.88 $890.90 $0.00 $365.70 $65,934.48
63 $65,934.48 $890.90 $0.00 $372.80 $67,198.18
64 $67,198.18 $890.90 $0.00 $379.95 $68,469.03
65 $68,469.03 $890.90 $0.00 $387.13 $69,747.06
66 $69,747.06 $890.90 $0.00 $394.36 $71,032.32
67 $71,032.32 $890.90 $0.00 $401.63 $72,324.85
68 $72,324.85 $890.90 $0.00 $408.94 $73,624.69
69 $73,624.69 $890.90 $0.00 $416.28 $74,931.87
70 $74,931.87 $890.90 $0.00 $423.68 $76,246.45
71 $76,246.45 $890.90 $0.00 $431.11 $77,568.46
72 $77,568.46 $890.90 $0.00 $438.58 $78,897.94
73 $78,897.94 $890.90 $0.00 $446.10 $80,234.94
74 $80,234.94 $890.90 $0.00 $453.66 $81,579.50
75 $81,579.50 $890.90 $0.00 $461.26 $82,931.66
76 $82,931.66 $890.90 $0.00 $468.91 $84,291.47
77 $84,291.47 $890.90 $0.00 $476.60 $85,658.97
78 $85,658.97 $890.90 $0.00 $484.33 $87,034.20
79 $87,034.20 $890.90 $0.00 $492.10 $88,417.20
80 $88,417.20 $890.90 $0.00 $499.92 $89,808.02
81 $89,808.02 $890.90 $0.00 $507.79 $91,206.71
82 $91,206.71 $890.90 $0.00 $515.70 $92,613.31
83 $92,613.31 $890.90 $0.00 $523.65 $94,027.86
84 $94,027.86 $890.90 $0.00 $531.65 $95,450.41
85 $95,450.41 $890.90 $0.00 $539.69 $96,881.00
86 $96,881.00 $890.90 $0.00 $547.78 $98,319.68
87 $98,319.68 $890.90 $0.00 $555.91 $99,766.49
88 $99,766.49 $890.90 $0.00 $564.09 $101,221.48
89 $101,221.48 $890.90 $0.00 $572.32 $102,684.70
90 $102,684.70 $890.90 $0.00 $580.59 $104,156.19
91 $104,156.19 $890.90 $0.00 $588.91 $105,636.00
92 $105,636.00 $890.90 $0.00 $597.28 $107,124.18
93 $107,124.18 $890.90 $0.00 $605.70 $108,620.78
94 $108,620.78 $890.90 $0.00 $614.16 $110,125.84
95 $110,125.84 $890.90 $0.00 $622.67 $111,639.41
96 $111,639.41 $890.90 $0.00 $631.23 $113,161.54
97 $113,161.54 $890.90 $0.00 $639.83 $114,692.27
98 $114,692.27 $890.90 $0.00 $648.49 $116,231.66
99 $116,231.66 $890.90 $0.00 $657.19 $117,779.75
100 $117,779.75 $890.90 $0.00 $665.94 $119,336.59
101 $119,336.59 $890.90 $0.00 $674.75 $120,902.24
102 $120,902.24 $890.90 $0.00 $683.60 $122,476.74
103 $122,476.74 $890.90 $0.00 $692.50 $124,060.14
104 $124,060.14 $890.90 $0.00 $701.45 $125,652.49
105 $125,652.49 $890.90 $0.00 $710.46 $127,253.85
106 $127,253.85 $890.90 $0.00 $719.51 $128,864.26
107 $128,864.26 $890.90 $0.00 $728.62 $130,483.78
108 $130,483.78 $890.90 $0.00 $737.77 $132,112.45
109 $132,112.45 $890.90 $0.00 $746.98 $133,750.33
110 $133,750.33 $890.90 $0.00 $756.24 $135,397.47
111 $135,397.47 $890.90 $0.00 $765.56 $137,053.93
112 $137,053.93 $890.90 $0.00 $774.92 $138,719.75
113 $138,719.75 $890.90 $0.00 $784.34 $140,394.99
114 $140,394.99 $890.90 $0.00 $793.81 $142,079.70
115 $142,079.70 $890.90 $0.00 $803.34 $143,773.94
116 $143,773.94 $890.90 $0.00 $812.92 $145,477.76
117 $145,477.76 $890.90 $0.00 $822.55 $147,191.21
118 $147,191.21 $890.90 $0.00 $832.24 $148,914.35
119 $148,914.35 $890.90 $0.00 $841.98 $150,647.23
120 $150,647.23 $890.90 $0.00 $851.78 $152,389.91
121 $152,389.91 $890.90 $0.00 $861.63 $154,142.44
122 $154,142.44 $890.90 $0.00 $871.54 $155,904.88
123 $155,904.88 $890.90 $0.00 $881.51 $157,677.29
124 $157,677.29 $890.90 $0.00 $891.53 $159,459.72
125 $159,459.72 $890.90 $0.00 $901.61 $161,252.23
126 $161,252.23 $890.90 $0.00 $911.74 $163,054.87
127 $163,054.87 $890.90 $0.00 $921.94 $164,867.71
128 $164,867.71 $890.90 $0.00 $932.19 $166,690.80
129 $166,690.80 $890.90 $0.00 $942.49 $168,524.19
130 $168,524.19 $890.90 $0.00 $952.86 $170,367.95
131 $170,367.95 $890.90 $0.00 $963.29 $172,222.14
132 $172,222.14 $890.90 $0.00 $973.77 $174,086.81
133 $174,086.81 $890.90 $0.00 $984.31 $175,962.02
134 $175,962.02 $890.90 $0.00 $994.91 $177,847.83
135 $177,847.83 $890.90 $0.00 $1,005.58 $179,744.31
136 $179,744.31 $890.90 $0.00 $1,016.30 $181,651.51
137 $181,651.51 $890.90 $0.00 $1,027.08 $183,569.49
138 $183,569.49 $890.90 $0.00 $1,037.93 $185,498.32
139 $185,498.32 $890.90 $0.00 $1,048.83 $187,438.05
140 $187,438.05 $890.90 $0.00 $1,059.80 $189,388.75
141 $189,388.75 $890.90 $0.00 $1,070.83 $191,350.48
142 $191,350.48 $890.90 $0.00 $1,081.92 $193,323.30
143 $193,323.30 $890.90 $0.00 $1,093.08 $195,307.28
144 $195,307.28 $890.90 $0.00 $1,104.30 $197,302.48
145 $197,302.48 $890.90 $0.00 $1,115.58 $199,308.96
146 $199,308.96 $890.90 $0.00 $1,126.92 $201,326.78
147 $201,326.78 $890.90 $0.00 $1,138.33 $203,356.01
148 $203,356.01 $890.90 $0.00 $1,149.80 $205,396.71
149 $205,396.71 $890.90 $0.00 $1,161.34 $207,448.95
150 $207,448.95 $890.90 $0.00 $1,172.95 $209,512.80
151 $209,512.80 $890.90 $0.00 $1,184.62 $211,588.32
152 $211,588.32 $890.90 $0.00 $1,196.35 $213,675.57
153 $213,675.57 $890.90 $0.00 $1,208.15 $215,774.62
154 $215,774.62 $890.90 $0.00 $1,220.02 $217,885.54
155 $217,885.54 $890.90 $0.00 $1,231.96 $220,008.40
156 $220,008.40 $890.90 $0.00 $1,243.96 $222,143.26
157 $222,143.26 $890.90 $0.00 $1,256.03 $224,290.19
158 $224,290.19 $890.90 $0.00 $1,268.17 $226,449.26
159 $226,449.26 $890.90 $0.00 $1,280.38 $228,620.54
160 $228,620.54 $890.90 $0.00 $1,292.65 $230,804.09
161 $230,804.09 $890.90 $0.00 $1,305.00 $232,999.99
162 $232,999.99 $890.90 $0.00 $1,317.42 $235,208.31
163 $235,208.31 $890.90 $0.00 $1,329.90 $237,429.11
164 $237,429.11 $890.90 $0.00 $1,342.46 $239,662.47
165 $239,662.47 $890.90 $0.00 $1,355.09 $241,908.46
166 $241,908.46 $890.90 $0.00 $1,367.79 $244,167.15
167 $244,167.15 $890.90 $0.00 $1,380.56 $246,438.61
168 $246,438.61 $890.90 $0.00 $1,393.40 $248,722.91
169 $248,722.91 $890.90 $0.00 $1,406.32 $251,020.13
170 $251,020.13 $890.90 $0.00 $1,419.30 $253,330.33
171 $253,330.33 $890.90 $0.00 $1,432.37 $255,653.60
172 $255,653.60 $890.90 $0.00 $1,445.50 $257,990.00
173 $257,990.00 $890.90 $0.00 $1,458.71 $260,339.61
174 $260,339.61 $890.90 $0.00 $1,472.00 $262,702.51
175 $262,702.51 $890.90 $0.00 $1,485.36 $265,078.77
176 $265,078.77 $890.90 $0.00 $1,498.79 $267,468.46
177 $267,468.46 $890.90 $0.00 $1,512.31 $269,871.67
178 $269,871.67 $890.90 $0.00 $1,525.89 $272,288.46
179 $272,288.46 $890.90 $0.00 $1,539.56 $274,718.92
180 $274,718.92 $890.90 $0.00 $1,553.30 $277,163.12
181 $277,163.12 $890.90 $0.00 $1,567.12 $279,621.14
182 $279,621.14 $890.90 $0.00 $1,581.02 $282,093.06
183 $282,093.06 $890.90 $0.00 $1,595.00 $284,578.96
184 $284,578.96 $890.90 $0.00 $1,609.05 $287,078.91
185 $287,078.91 $890.90 $0.00 $1,623.19 $289,593.00
186 $289,593.00 $890.90 $0.00 $1,637.40 $292,121.30
187 $292,121.30 $890.90 $0.00 $1,651.70 $294,663.90
188 $294,663.90 $890.90 $0.00 $1,666.07 $297,220.87
189 $297,220.87 $890.90 $0.00 $1,680.53 $299,792.30
190 $299,792.30 $890.90 $0.00 $1,695.07 $302,378.27
191 $302,378.27 $890.90 $0.00 $1,709.69 $304,978.86
192 $304,978.86 $890.90 $0.00 $1,724.39 $307,594.15
193 $307,594.15 $890.90 $0.00 $1,739.18 $310,224.23
194 $310,224.23 $890.90 $0.00 $1,754.05 $312,869.18
195 $312,869.18 $890.90 $0.00 $1,769.01 $315,529.09
196 $315,529.09 $890.90 $0.00 $1,784.05 $318,204.04
197 $318,204.04 $890.90 $0.00 $1,799.17 $320,894.11
198 $320,894.11 $890.90 $0.00 $1,814.38 $323,599.39
199 $323,599.39 $890.90 $0.00 $1,829.68 $326,319.97
200 $326,319.97 $890.90 $0.00 $1,845.06 $329,055.93
201 $329,055.93 $890.90 $0.00 $1,860.53 $331,807.36
202 $331,807.36 $890.90 $0.00 $1,876.09 $334,574.35
203 $334,574.35 $890.90 $0.00 $1,891.73 $337,356.98
204 $337,356.98 $890.90 $0.00 $1,907.47 $340,155.35
205 $340,155.35 $890.90 $0.00 $1,923.29 $342,969.54
206 $342,969.54 $890.90 $0.00 $1,939.20 $345,799.64
207 $345,799.64 $890.90 $0.00 $1,955.20 $348,645.74
208 $348,645.74 $890.90 $0.00 $1,971.29 $351,507.93
209 $351,507.93 $890.90 $0.00 $1,987.48 $354,386.31
210 $354,386.31 $890.90 $0.00 $2,003.75 $357,280.96
211 $357,280.96 $890.90 $0.00 $2,020.12 $360,191.98
212 $360,191.98 $890.90 $0.00 $2,036.58 $363,119.46
213 $363,119.46 $890.90 $0.00 $2,053.13 $366,063.49
214 $366,063.49 $890.90 $0.00 $2,069.78 $369,024.17
215 $369,024.17 $890.90 $0.00 $2,086.52 $372,001.59
216 $372,001.59 $890.90 $0.00 $2,103.35 $374,995.84
217 $374,995.84 $890.90 $104,447.27 $2,120.28 $273,559.75
218 $273,559.75 $890.90 $0.00 $1,546.75 $275,997.40
219 $275,997.40 $890.90 $0.00 $1,560.53 $278,448.83
220 $278,448.83 $890.90 $0.00 $1,574.39 $280,914.12
221 $280,914.12 $890.90 $0.00 $1,588.33 $283,393.35
222 $283,393.35 $890.90 $0.00 $1,602.35 $285,886.60
223 $285,886.60 $890.90 $0.00 $1,616.44 $288,393.94
224 $288,393.94 $890.90 $0.00 $1,630.62 $290,915.46
225 $290,915.46 $890.90 $0.00 $1,644.88 $293,451.24
226 $293,451.24 $890.90 $0.00 $1,659.22 $296,001.36
227 $296,001.36 $890.90 $0.00 $1,673.63 $298,565.89
228 $298,565.89 $890.90 $0.00 $1,688.13 $301,144.92
229 $301,144.92 $890.90 $109,669.64 $1,702.72 $194,068.90
230 $194,068.90 $890.90 $0.00 $1,097.29 $196,057.09
231 $196,057.09 $890.90 $0.00 $1,108.54 $198,056.53
232 $198,056.53 $890.90 $0.00 $1,119.84 $200,067.27
233 $200,067.27 $890.90 $0.00 $1,131.21 $202,089.38
234 $202,089.38 $890.90 $0.00 $1,142.64 $204,122.92
235 $204,122.92 $890.90 $0.00 $1,154.14 $206,167.96
236 $206,167.96 $890.90 $0.00 $1,165.70 $208,224.56
237 $208,224.56 $890.90 $0.00 $1,177.33 $210,292.79
238 $210,292.79 $890.90 $0.00 $1,189.03 $212,372.72
239 $212,372.72 $890.90 $0.00 $1,200.79 $214,464.41
240 $214,464.41 $890.90 $0.00 $1,212.61 $216,567.92
241 $216,567.92 $890.90 $115,153.12 $1,224.51 $103,530.21
242 $103,530.21 $890.90 $0.00 $585.37 $105,006.48
243 $105,006.48 $890.90 $0.00 $593.72 $106,491.10
244 $106,491.10 $890.90 $0.00 $602.12 $107,984.12
245 $107,984.12 $890.90 $0.00 $610.56 $109,485.58
246 $109,485.58 $890.90 $0.00 $619.05 $110,995.53
247 $110,995.53 $890.90 $0.00 $627.58 $112,514.01
248 $112,514.01 $890.90 $0.00 $636.17 $114,041.08
249 $114,041.08 $890.90 $0.00 $644.80 $115,576.78
250 $115,576.78 $890.90 $0.00 $653.49 $117,121.17
251 $117,121.17 $890.90 $0.00 $662.22 $118,674.29
252 $118,674.29 $890.90 $0.00 $671.00 $120,236.19
253 $120,236.19 $0.00 $120,910.78 $679.83 $5.24