Savings Plan and Future Cost Estimation for University of Mount Union

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$175,789
Monthly savings required$1,389

How much will it cost to send your child to University of Mount Union in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $703,154.25 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,389.28 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$46,856.00
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 $1,389.28 $0.00 $0.00 $1,389.28
2 $1,389.28 $1,389.28 $0.00 $7.86 $2,786.42
3 $2,786.42 $1,389.28 $0.00 $15.75 $4,191.45
4 $4,191.45 $1,389.28 $0.00 $23.70 $5,604.43
5 $5,604.43 $1,389.28 $0.00 $31.69 $7,025.40
6 $7,025.40 $1,389.28 $0.00 $39.72 $8,454.40
7 $8,454.40 $1,389.28 $0.00 $47.80 $9,891.48
8 $9,891.48 $1,389.28 $0.00 $55.93 $11,336.69
9 $11,336.69 $1,389.28 $0.00 $64.10 $12,790.07
10 $12,790.07 $1,389.28 $0.00 $72.32 $14,251.67
11 $14,251.67 $1,389.28 $0.00 $80.58 $15,721.53
12 $15,721.53 $1,389.28 $0.00 $88.89 $17,199.70
13 $17,199.70 $1,389.28 $0.00 $97.25 $18,686.23
14 $18,686.23 $1,389.28 $0.00 $105.65 $20,181.16
15 $20,181.16 $1,389.28 $0.00 $114.11 $21,684.55
16 $21,684.55 $1,389.28 $0.00 $122.61 $23,196.44
17 $23,196.44 $1,389.28 $0.00 $131.16 $24,716.88
18 $24,716.88 $1,389.28 $0.00 $139.75 $26,245.91
19 $26,245.91 $1,389.28 $0.00 $148.40 $27,783.59
20 $27,783.59 $1,389.28 $0.00 $157.09 $29,329.96
21 $29,329.96 $1,389.28 $0.00 $165.84 $30,885.08
22 $30,885.08 $1,389.28 $0.00 $174.63 $32,448.99
23 $32,448.99 $1,389.28 $0.00 $183.47 $34,021.74
24 $34,021.74 $1,389.28 $0.00 $192.36 $35,603.38
25 $35,603.38 $1,389.28 $0.00 $201.31 $37,193.97
26 $37,193.97 $1,389.28 $0.00 $210.30 $38,793.55
27 $38,793.55 $1,389.28 $0.00 $219.34 $40,402.17
28 $40,402.17 $1,389.28 $0.00 $228.44 $42,019.89
29 $42,019.89 $1,389.28 $0.00 $237.59 $43,646.76
30 $43,646.76 $1,389.28 $0.00 $246.79 $45,282.83
31 $45,282.83 $1,389.28 $0.00 $256.04 $46,928.15
32 $46,928.15 $1,389.28 $0.00 $265.34 $48,582.77
33 $48,582.77 $1,389.28 $0.00 $274.69 $50,246.74
34 $50,246.74 $1,389.28 $0.00 $284.10 $51,920.12
35 $51,920.12 $1,389.28 $0.00 $293.56 $53,602.96
36 $53,602.96 $1,389.28 $0.00 $303.08 $55,295.32
37 $55,295.32 $1,389.28 $0.00 $312.65 $56,997.25
38 $56,997.25 $1,389.28 $0.00 $322.27 $58,708.80
39 $58,708.80 $1,389.28 $0.00 $331.95 $60,430.03
40 $60,430.03 $1,389.28 $0.00 $341.68 $62,160.99
41 $62,160.99 $1,389.28 $0.00 $351.47 $63,901.74
42 $63,901.74 $1,389.28 $0.00 $361.31 $65,652.33
43 $65,652.33 $1,389.28 $0.00 $371.21 $67,412.82
44 $67,412.82 $1,389.28 $0.00 $381.16 $69,183.26
45 $69,183.26 $1,389.28 $0.00 $391.17 $70,963.71
46 $70,963.71 $1,389.28 $0.00 $401.24 $72,754.23
47 $72,754.23 $1,389.28 $0.00 $411.36 $74,554.87
48 $74,554.87 $1,389.28 $0.00 $421.54 $76,365.69
49 $76,365.69 $1,389.28 $0.00 $431.78 $78,186.75
50 $78,186.75 $1,389.28 $0.00 $442.08 $80,018.11
51 $80,018.11 $1,389.28 $0.00 $452.43 $81,859.82
52 $81,859.82 $1,389.28 $0.00 $462.85 $83,711.95
53 $83,711.95 $1,389.28 $0.00 $473.32 $85,574.55
54 $85,574.55 $1,389.28 $0.00 $483.85 $87,447.68
55 $87,447.68 $1,389.28 $0.00 $494.44 $89,331.40
56 $89,331.40 $1,389.28 $0.00 $505.09 $91,225.77
57 $91,225.77 $1,389.28 $0.00 $515.80 $93,130.85
58 $93,130.85 $1,389.28 $0.00 $526.58 $95,046.71
59 $95,046.71 $1,389.28 $0.00 $537.41 $96,973.40
60 $96,973.40 $1,389.28 $0.00 $548.30 $98,910.98
61 $98,910.98 $1,389.28 $0.00 $559.26 $100,859.52
62 $100,859.52 $1,389.28 $0.00 $570.27 $102,819.07
63 $102,819.07 $1,389.28 $0.00 $581.35 $104,789.70
64 $104,789.70 $1,389.28 $0.00 $592.50 $106,771.48
65 $106,771.48 $1,389.28 $0.00 $603.70 $108,764.46
66 $108,764.46 $1,389.28 $0.00 $614.97 $110,768.71
67 $110,768.71 $1,389.28 $0.00 $626.30 $112,784.29
68 $112,784.29 $1,389.28 $0.00 $637.70 $114,811.27
69 $114,811.27 $1,389.28 $0.00 $649.16 $116,849.71
70 $116,849.71 $1,389.28 $0.00 $660.69 $118,899.68
71 $118,899.68 $1,389.28 $0.00 $672.28 $120,961.24
72 $120,961.24 $1,389.28 $0.00 $683.93 $123,034.45
73 $123,034.45 $1,389.28 $0.00 $695.65 $125,119.38
74 $125,119.38 $1,389.28 $0.00 $707.44 $127,216.10
75 $127,216.10 $1,389.28 $0.00 $719.30 $129,324.68
76 $129,324.68 $1,389.28 $0.00 $731.22 $131,445.18
77 $131,445.18 $1,389.28 $0.00 $743.21 $133,577.67
78 $133,577.67 $1,389.28 $0.00 $755.27 $135,722.22
79 $135,722.22 $1,389.28 $0.00 $767.39 $137,878.89
80 $137,878.89 $1,389.28 $0.00 $779.59 $140,047.76
81 $140,047.76 $1,389.28 $0.00 $791.85 $142,228.89
82 $142,228.89 $1,389.28 $0.00 $804.18 $144,422.35
83 $144,422.35 $1,389.28 $0.00 $816.58 $146,628.21
84 $146,628.21 $1,389.28 $0.00 $829.06 $148,846.55
85 $148,846.55 $1,389.28 $0.00 $841.60 $151,077.43
86 $151,077.43 $1,389.28 $0.00 $854.21 $153,320.92
87 $153,320.92 $1,389.28 $0.00 $866.90 $155,577.10
88 $155,577.10 $1,389.28 $0.00 $879.66 $157,846.04
89 $157,846.04 $1,389.28 $0.00 $892.48 $160,127.80
90 $160,127.80 $1,389.28 $0.00 $905.39 $162,422.47
91 $162,422.47 $1,389.28 $0.00 $918.36 $164,730.11
92 $164,730.11 $1,389.28 $0.00 $931.41 $167,050.80
93 $167,050.80 $1,389.28 $0.00 $944.53 $169,384.61
94 $169,384.61 $1,389.28 $0.00 $957.73 $171,731.62
95 $171,731.62 $1,389.28 $0.00 $971.00 $174,091.90
96 $174,091.90 $1,389.28 $0.00 $984.34 $176,465.52
97 $176,465.52 $1,389.28 $0.00 $997.76 $178,852.56
98 $178,852.56 $1,389.28 $0.00 $1,011.26 $181,253.10
99 $181,253.10 $1,389.28 $0.00 $1,024.83 $183,667.21
100 $183,667.21 $1,389.28 $0.00 $1,038.48 $186,094.97
101 $186,094.97 $1,389.28 $0.00 $1,052.21 $188,536.46
102 $188,536.46 $1,389.28 $0.00 $1,066.01 $190,991.75
103 $190,991.75 $1,389.28 $0.00 $1,079.90 $193,460.93
104 $193,460.93 $1,389.28 $0.00 $1,093.86 $195,944.07
105 $195,944.07 $1,389.28 $0.00 $1,107.90 $198,441.25
106 $198,441.25 $1,389.28 $0.00 $1,122.02 $200,952.55
107 $200,952.55 $1,389.28 $0.00 $1,136.21 $203,478.04
108 $203,478.04 $1,389.28 $0.00 $1,150.49 $206,017.81
109 $206,017.81 $1,389.28 $0.00 $1,164.85 $208,571.94
110 $208,571.94 $1,389.28 $0.00 $1,179.30 $211,140.52
111 $211,140.52 $1,389.28 $0.00 $1,193.82 $213,723.62
112 $213,723.62 $1,389.28 $0.00 $1,208.42 $216,321.32
113 $216,321.32 $1,389.28 $0.00 $1,223.11 $218,933.71
114 $218,933.71 $1,389.28 $0.00 $1,237.88 $221,560.87
115 $221,560.87 $1,389.28 $0.00 $1,252.74 $224,202.89
116 $224,202.89 $1,389.28 $0.00 $1,267.68 $226,859.85
117 $226,859.85 $1,389.28 $0.00 $1,282.70 $229,531.83
118 $229,531.83 $1,389.28 $0.00 $1,297.81 $232,218.92
119 $232,218.92 $1,389.28 $0.00 $1,313.00 $234,921.20
120 $234,921.20 $1,389.28 $0.00 $1,328.28 $237,638.76
121 $237,638.76 $1,389.28 $0.00 $1,343.64 $240,371.68
122 $240,371.68 $1,389.28 $0.00 $1,359.10 $243,120.06
123 $243,120.06 $1,389.28 $0.00 $1,374.64 $245,883.98
124 $245,883.98 $1,389.28 $0.00 $1,390.26 $248,663.52
125 $248,663.52 $1,389.28 $0.00 $1,405.98 $251,458.78
126 $251,458.78 $1,389.28 $0.00 $1,421.78 $254,269.84
127 $254,269.84 $1,389.28 $0.00 $1,437.68 $257,096.80
128 $257,096.80 $1,389.28 $0.00 $1,453.66 $259,939.74
129 $259,939.74 $1,389.28 $0.00 $1,469.74 $262,798.76
130 $262,798.76 $1,389.28 $0.00 $1,485.90 $265,673.94
131 $265,673.94 $1,389.28 $0.00 $1,502.16 $268,565.38
132 $268,565.38 $1,389.28 $0.00 $1,518.51 $271,473.17
133 $271,473.17 $1,389.28 $0.00 $1,534.95 $274,397.40
134 $274,397.40 $1,389.28 $0.00 $1,551.48 $277,338.16
135 $277,338.16 $1,389.28 $0.00 $1,568.11 $280,295.55
136 $280,295.55 $1,389.28 $0.00 $1,584.83 $283,269.66
137 $283,269.66 $1,389.28 $0.00 $1,601.65 $286,260.59
138 $286,260.59 $1,389.28 $0.00 $1,618.56 $289,268.43
139 $289,268.43 $1,389.28 $0.00 $1,635.57 $292,293.28
140 $292,293.28 $1,389.28 $0.00 $1,652.67 $295,335.23
141 $295,335.23 $1,389.28 $0.00 $1,669.87 $298,394.38
142 $298,394.38 $1,389.28 $0.00 $1,687.17 $301,470.83
143 $301,470.83 $1,389.28 $0.00 $1,704.56 $304,564.67
144 $304,564.67 $1,389.28 $0.00 $1,722.05 $307,676.00
145 $307,676.00 $1,389.28 $0.00 $1,739.64 $310,804.92
146 $310,804.92 $1,389.28 $0.00 $1,757.34 $313,951.54
147 $313,951.54 $1,389.28 $0.00 $1,775.13 $317,115.95
148 $317,115.95 $1,389.28 $0.00 $1,793.02 $320,298.25
149 $320,298.25 $1,389.28 $0.00 $1,811.01 $323,498.54
150 $323,498.54 $1,389.28 $0.00 $1,829.11 $326,716.93
151 $326,716.93 $1,389.28 $0.00 $1,847.31 $329,953.52
152 $329,953.52 $1,389.28 $0.00 $1,865.61 $333,208.41
153 $333,208.41 $1,389.28 $0.00 $1,884.01 $336,481.70
154 $336,481.70 $1,389.28 $0.00 $1,902.52 $339,773.50
155 $339,773.50 $1,389.28 $0.00 $1,921.13 $343,083.91
156 $343,083.91 $1,389.28 $0.00 $1,939.85 $346,413.04
157 $346,413.04 $1,389.28 $0.00 $1,958.67 $349,760.99
158 $349,760.99 $1,389.28 $0.00 $1,977.60 $353,127.87
159 $353,127.87 $1,389.28 $0.00 $1,996.64 $356,513.79
160 $356,513.79 $1,389.28 $0.00 $2,015.78 $359,918.85
161 $359,918.85 $1,389.28 $0.00 $2,035.03 $363,343.16
162 $363,343.16 $1,389.28 $0.00 $2,054.40 $366,786.84
163 $366,786.84 $1,389.28 $0.00 $2,073.87 $370,249.99
164 $370,249.99 $1,389.28 $0.00 $2,093.45 $373,732.72
165 $373,732.72 $1,389.28 $0.00 $2,113.14 $377,235.14
166 $377,235.14 $1,389.28 $0.00 $2,132.94 $380,757.36
167 $380,757.36 $1,389.28 $0.00 $2,152.86 $384,299.50
168 $384,299.50 $1,389.28 $0.00 $2,172.89 $387,861.67
169 $387,861.67 $1,389.28 $0.00 $2,193.03 $391,443.98
170 $391,443.98 $1,389.28 $0.00 $2,213.28 $395,046.54
171 $395,046.54 $1,389.28 $0.00 $2,233.65 $398,669.47
172 $398,669.47 $1,389.28 $0.00 $2,254.14 $402,312.89
173 $402,312.89 $1,389.28 $0.00 $2,274.74 $405,976.91
174 $405,976.91 $1,389.28 $0.00 $2,295.45 $409,661.64
175 $409,661.64 $1,389.28 $0.00 $2,316.29 $413,367.21
176 $413,367.21 $1,389.28 $0.00 $2,337.24 $417,093.73
177 $417,093.73 $1,389.28 $0.00 $2,358.31 $420,841.32
178 $420,841.32 $1,389.28 $0.00 $2,379.50 $424,610.10
179 $424,610.10 $1,389.28 $0.00 $2,400.81 $428,400.19
180 $428,400.19 $1,389.28 $0.00 $2,422.24 $432,211.71
181 $432,211.71 $1,389.28 $0.00 $2,443.79 $436,044.78
182 $436,044.78 $1,389.28 $0.00 $2,465.46 $439,899.52
183 $439,899.52 $1,389.28 $0.00 $2,487.26 $443,776.06
184 $443,776.06 $1,389.28 $0.00 $2,509.17 $447,674.51
185 $447,674.51 $1,389.28 $0.00 $2,531.22 $451,595.01
186 $451,595.01 $1,389.28 $0.00 $2,553.38 $455,537.67
187 $455,537.67 $1,389.28 $0.00 $2,575.68 $459,502.63
188 $459,502.63 $1,389.28 $0.00 $2,598.09 $463,490.00
189 $463,490.00 $1,389.28 $0.00 $2,620.64 $467,499.92
190 $467,499.92 $1,389.28 $0.00 $2,643.31 $471,532.51
191 $471,532.51 $1,389.28 $0.00 $2,666.11 $475,587.90
192 $475,587.90 $1,389.28 $0.00 $2,689.04 $479,666.22
193 $479,666.22 $1,389.28 $0.00 $2,712.10 $483,767.60
194 $483,767.60 $1,389.28 $0.00 $2,735.29 $487,892.17
195 $487,892.17 $1,389.28 $0.00 $2,758.61 $492,040.06
196 $492,040.06 $1,389.28 $0.00 $2,782.07 $496,211.41
197 $496,211.41 $1,389.28 $0.00 $2,805.65 $500,406.34
198 $500,406.34 $1,389.28 $0.00 $2,829.37 $504,624.99
199 $504,624.99 $1,389.28 $0.00 $2,853.22 $508,867.49
200 $508,867.49 $1,389.28 $0.00 $2,877.21 $513,133.98
201 $513,133.98 $1,389.28 $0.00 $2,901.33 $517,424.59
202 $517,424.59 $1,389.28 $0.00 $2,925.59 $521,739.46
203 $521,739.46 $1,389.28 $0.00 $2,949.99 $526,078.73
204 $526,078.73 $1,389.28 $0.00 $2,974.53 $530,442.54
205 $530,442.54 $1,389.28 $0.00 $2,999.20 $534,831.02
206 $534,831.02 $1,389.28 $0.00 $3,024.01 $539,244.31
207 $539,244.31 $1,389.28 $0.00 $3,048.97 $543,682.56
208 $543,682.56 $1,389.28 $0.00 $3,074.06 $548,145.90
209 $548,145.90 $1,389.28 $0.00 $3,099.30 $552,634.48
210 $552,634.48 $1,389.28 $0.00 $3,124.68 $557,148.44
211 $557,148.44 $1,389.28 $0.00 $3,150.20 $561,687.92
212 $561,687.92 $1,389.28 $0.00 $3,175.87 $566,253.07
213 $566,253.07 $1,389.28 $0.00 $3,201.68 $570,844.03
214 $570,844.03 $1,389.28 $0.00 $3,227.64 $575,460.95
215 $575,460.95 $1,389.28 $0.00 $3,253.74 $580,103.97
216 $580,103.97 $1,389.28 $0.00 $3,279.99 $584,773.24
217 $584,773.24 $1,389.28 $158,370.11 $3,306.39 $431,098.80
218 $431,098.80 $1,389.28 $0.00 $2,437.50 $434,925.58
219 $434,925.58 $1,389.28 $0.00 $2,459.13 $438,773.99
220 $438,773.99 $1,389.28 $0.00 $2,480.89 $442,644.16
221 $442,644.16 $1,389.28 $0.00 $2,502.77 $446,536.21
222 $446,536.21 $1,389.28 $0.00 $2,524.78 $450,450.27
223 $450,450.27 $1,389.28 $0.00 $2,546.91 $454,386.46
224 $454,386.46 $1,389.28 $0.00 $2,569.17 $458,344.91
225 $458,344.91 $1,389.28 $0.00 $2,591.55 $462,325.74
226 $462,325.74 $1,389.28 $0.00 $2,614.06 $466,329.08
227 $466,329.08 $1,389.28 $0.00 $2,636.69 $470,355.05
228 $470,355.05 $1,389.28 $0.00 $2,659.46 $474,403.79
229 $474,403.79 $1,389.28 $169,456.01 $2,682.35 $309,019.41
230 $309,019.41 $1,389.28 $0.00 $1,747.24 $312,155.93
231 $312,155.93 $1,389.28 $0.00 $1,764.98 $315,310.19
232 $315,310.19 $1,389.28 $0.00 $1,782.81 $318,482.28
233 $318,482.28 $1,389.28 $0.00 $1,800.75 $321,672.31
234 $321,672.31 $1,389.28 $0.00 $1,818.78 $324,880.37
235 $324,880.37 $1,389.28 $0.00 $1,836.92 $328,106.57
236 $328,106.57 $1,389.28 $0.00 $1,855.16 $331,351.01
237 $331,351.01 $1,389.28 $0.00 $1,873.51 $334,613.80
238 $334,613.80 $1,389.28 $0.00 $1,891.96 $337,895.04
239 $337,895.04 $1,389.28 $0.00 $1,910.51 $341,194.83
240 $341,194.83 $1,389.28 $0.00 $1,929.17 $344,513.28
241 $344,513.28 $1,389.28 $181,317.94 $1,947.93 $166,532.55
242 $166,532.55 $1,389.28 $0.00 $941.60 $168,863.43
243 $168,863.43 $1,389.28 $0.00 $954.78 $171,207.49
244 $171,207.49 $1,389.28 $0.00 $968.03 $173,564.80
245 $173,564.80 $1,389.28 $0.00 $981.36 $175,935.44
246 $175,935.44 $1,389.28 $0.00 $994.76 $178,319.48
247 $178,319.48 $1,389.28 $0.00 $1,008.24 $180,717.00
248 $180,717.00 $1,389.28 $0.00 $1,021.80 $183,128.08
249 $183,128.08 $1,389.28 $0.00 $1,035.43 $185,552.79
250 $185,552.79 $1,389.28 $0.00 $1,049.14 $187,991.21
251 $187,991.21 $1,389.28 $0.00 $1,062.93 $190,443.42
252 $190,443.42 $1,389.28 $0.00 $1,076.79 $192,909.49
253 $192,909.49 $0.00 $194,010.19 $1,090.74 -$9.96