Savings Plan and Future Cost Estimation for Mercyhurst College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$227,899
Monthly savings required$1,801

How much will it cost to send your child to Mercyhurst College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $911,597.40 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,801.15 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$60,746.00
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 $1,801.15 $0.00 $0.00 $1,801.15
2 $1,801.15 $1,801.15 $0.00 $10.18 $3,612.48
3 $3,612.48 $1,801.15 $0.00 $20.43 $5,434.06
4 $5,434.06 $1,801.15 $0.00 $30.72 $7,265.93
5 $7,265.93 $1,801.15 $0.00 $41.08 $9,108.16
6 $9,108.16 $1,801.15 $0.00 $51.50 $10,960.81
7 $10,960.81 $1,801.15 $0.00 $61.97 $12,823.93
8 $12,823.93 $1,801.15 $0.00 $72.51 $14,697.59
9 $14,697.59 $1,801.15 $0.00 $83.10 $16,581.84
10 $16,581.84 $1,801.15 $0.00 $93.76 $18,476.75
11 $18,476.75 $1,801.15 $0.00 $104.47 $20,382.37
12 $20,382.37 $1,801.15 $0.00 $115.24 $22,298.76
13 $22,298.76 $1,801.15 $0.00 $126.08 $24,225.99
14 $24,225.99 $1,801.15 $0.00 $136.98 $26,164.12
15 $26,164.12 $1,801.15 $0.00 $147.94 $28,113.21
16 $28,113.21 $1,801.15 $0.00 $158.96 $30,073.32
17 $30,073.32 $1,801.15 $0.00 $170.04 $32,044.51
18 $32,044.51 $1,801.15 $0.00 $181.18 $34,026.84
19 $34,026.84 $1,801.15 $0.00 $192.39 $36,020.38
20 $36,020.38 $1,801.15 $0.00 $203.66 $38,025.19
21 $38,025.19 $1,801.15 $0.00 $215.00 $40,041.34
22 $40,041.34 $1,801.15 $0.00 $226.40 $42,068.89
23 $42,068.89 $1,801.15 $0.00 $237.86 $44,107.90
24 $44,107.90 $1,801.15 $0.00 $249.39 $46,158.44
25 $46,158.44 $1,801.15 $0.00 $260.99 $48,220.58
26 $48,220.58 $1,801.15 $0.00 $272.65 $50,294.38
27 $50,294.38 $1,801.15 $0.00 $284.37 $52,379.90
28 $52,379.90 $1,801.15 $0.00 $296.16 $54,477.21
29 $54,477.21 $1,801.15 $0.00 $308.02 $56,586.38
30 $56,586.38 $1,801.15 $0.00 $319.95 $58,707.48
31 $58,707.48 $1,801.15 $0.00 $331.94 $60,840.57
32 $60,840.57 $1,801.15 $0.00 $344.00 $62,985.72
33 $62,985.72 $1,801.15 $0.00 $356.13 $65,143.00
34 $65,143.00 $1,801.15 $0.00 $368.33 $67,312.48
35 $67,312.48 $1,801.15 $0.00 $380.59 $69,494.22
36 $69,494.22 $1,801.15 $0.00 $392.93 $71,688.30
37 $71,688.30 $1,801.15 $0.00 $405.34 $73,894.79
38 $73,894.79 $1,801.15 $0.00 $417.81 $76,113.75
39 $76,113.75 $1,801.15 $0.00 $430.36 $78,345.26
40 $78,345.26 $1,801.15 $0.00 $442.98 $80,589.39
41 $80,589.39 $1,801.15 $0.00 $455.66 $82,846.20
42 $82,846.20 $1,801.15 $0.00 $468.42 $85,115.77
43 $85,115.77 $1,801.15 $0.00 $481.26 $87,398.18
44 $87,398.18 $1,801.15 $0.00 $494.16 $89,693.49
45 $89,693.49 $1,801.15 $0.00 $507.14 $92,001.78
46 $92,001.78 $1,801.15 $0.00 $520.19 $94,323.12
47 $94,323.12 $1,801.15 $0.00 $533.32 $96,657.59
48 $96,657.59 $1,801.15 $0.00 $546.52 $99,005.26
49 $99,005.26 $1,801.15 $0.00 $559.79 $101,366.20
50 $101,366.20 $1,801.15 $0.00 $573.14 $103,740.49
51 $103,740.49 $1,801.15 $0.00 $586.56 $106,128.20
52 $106,128.20 $1,801.15 $0.00 $600.06 $108,529.41
53 $108,529.41 $1,801.15 $0.00 $613.64 $110,944.20
54 $110,944.20 $1,801.15 $0.00 $627.29 $113,372.64
55 $113,372.64 $1,801.15 $0.00 $641.03 $115,814.82
56 $115,814.82 $1,801.15 $0.00 $654.83 $118,270.80
57 $118,270.80 $1,801.15 $0.00 $668.72 $120,740.67
58 $120,740.67 $1,801.15 $0.00 $682.69 $123,224.51
59 $123,224.51 $1,801.15 $0.00 $696.73 $125,722.39
60 $125,722.39 $1,801.15 $0.00 $710.85 $128,234.39
61 $128,234.39 $1,801.15 $0.00 $725.06 $130,760.60
62 $130,760.60 $1,801.15 $0.00 $739.34 $133,301.09
63 $133,301.09 $1,801.15 $0.00 $753.70 $135,855.94
64 $135,855.94 $1,801.15 $0.00 $768.15 $138,425.24
65 $138,425.24 $1,801.15 $0.00 $782.68 $141,009.07
66 $141,009.07 $1,801.15 $0.00 $797.29 $143,607.51
67 $143,607.51 $1,801.15 $0.00 $811.98 $146,220.64
68 $146,220.64 $1,801.15 $0.00 $826.75 $148,848.54
69 $148,848.54 $1,801.15 $0.00 $841.61 $151,491.30
70 $151,491.30 $1,801.15 $0.00 $856.55 $154,149.00
71 $154,149.00 $1,801.15 $0.00 $871.58 $156,821.73
72 $156,821.73 $1,801.15 $0.00 $886.69 $159,509.57
73 $159,509.57 $1,801.15 $0.00 $901.89 $162,212.61
74 $162,212.61 $1,801.15 $0.00 $917.17 $164,930.93
75 $164,930.93 $1,801.15 $0.00 $932.54 $167,664.62
76 $167,664.62 $1,801.15 $0.00 $948.00 $170,413.77
77 $170,413.77 $1,801.15 $0.00 $963.54 $173,178.46
78 $173,178.46 $1,801.15 $0.00 $979.18 $175,958.79
79 $175,958.79 $1,801.15 $0.00 $994.90 $178,754.84
80 $178,754.84 $1,801.15 $0.00 $1,010.71 $181,566.70
81 $181,566.70 $1,801.15 $0.00 $1,026.60 $184,394.45
82 $184,394.45 $1,801.15 $0.00 $1,042.59 $187,238.19
83 $187,238.19 $1,801.15 $0.00 $1,058.67 $190,098.01
84 $190,098.01 $1,801.15 $0.00 $1,074.84 $192,974.00
85 $192,974.00 $1,801.15 $0.00 $1,091.10 $195,866.25
86 $195,866.25 $1,801.15 $0.00 $1,107.46 $198,774.86
87 $198,774.86 $1,801.15 $0.00 $1,123.90 $201,699.91
88 $201,699.91 $1,801.15 $0.00 $1,140.44 $204,641.50
89 $204,641.50 $1,801.15 $0.00 $1,157.07 $207,599.72
90 $207,599.72 $1,801.15 $0.00 $1,173.80 $210,574.67
91 $210,574.67 $1,801.15 $0.00 $1,190.62 $213,566.44
92 $213,566.44 $1,801.15 $0.00 $1,207.54 $216,575.13
93 $216,575.13 $1,801.15 $0.00 $1,224.55 $219,600.83
94 $219,600.83 $1,801.15 $0.00 $1,241.66 $222,643.64
95 $222,643.64 $1,801.15 $0.00 $1,258.86 $225,703.65
96 $225,703.65 $1,801.15 $0.00 $1,276.16 $228,780.96
97 $228,780.96 $1,801.15 $0.00 $1,293.56 $231,875.67
98 $231,875.67 $1,801.15 $0.00 $1,311.06 $234,987.88
99 $234,987.88 $1,801.15 $0.00 $1,328.66 $238,117.69
100 $238,117.69 $1,801.15 $0.00 $1,346.35 $241,265.19
101 $241,265.19 $1,801.15 $0.00 $1,364.15 $244,430.49
102 $244,430.49 $1,801.15 $0.00 $1,382.05 $247,613.69
103 $247,613.69 $1,801.15 $0.00 $1,400.04 $250,814.88
104 $250,814.88 $1,801.15 $0.00 $1,418.14 $254,034.17
105 $254,034.17 $1,801.15 $0.00 $1,436.35 $257,271.67
106 $257,271.67 $1,801.15 $0.00 $1,454.65 $260,527.47
107 $260,527.47 $1,801.15 $0.00 $1,473.06 $263,801.68
108 $263,801.68 $1,801.15 $0.00 $1,491.57 $267,094.40
109 $267,094.40 $1,801.15 $0.00 $1,510.19 $270,405.74
110 $270,405.74 $1,801.15 $0.00 $1,528.91 $273,735.80
111 $273,735.80 $1,801.15 $0.00 $1,547.74 $277,084.69
112 $277,084.69 $1,801.15 $0.00 $1,566.68 $280,452.52
113 $280,452.52 $1,801.15 $0.00 $1,585.72 $283,839.39
114 $283,839.39 $1,801.15 $0.00 $1,604.87 $287,245.41
115 $287,245.41 $1,801.15 $0.00 $1,624.13 $290,670.69
116 $290,670.69 $1,801.15 $0.00 $1,643.49 $294,115.33
117 $294,115.33 $1,801.15 $0.00 $1,662.97 $297,579.45
118 $297,579.45 $1,801.15 $0.00 $1,682.56 $301,063.16
119 $301,063.16 $1,801.15 $0.00 $1,702.25 $304,566.56
120 $304,566.56 $1,801.15 $0.00 $1,722.06 $308,089.77
121 $308,089.77 $1,801.15 $0.00 $1,741.98 $311,632.90
122 $311,632.90 $1,801.15 $0.00 $1,762.02 $315,196.07
123 $315,196.07 $1,801.15 $0.00 $1,782.16 $318,779.38
124 $318,779.38 $1,801.15 $0.00 $1,802.42 $322,382.95
125 $322,382.95 $1,801.15 $0.00 $1,822.80 $326,006.90
126 $326,006.90 $1,801.15 $0.00 $1,843.29 $329,651.34
127 $329,651.34 $1,801.15 $0.00 $1,863.90 $333,316.39
128 $333,316.39 $1,801.15 $0.00 $1,884.62 $337,002.16
129 $337,002.16 $1,801.15 $0.00 $1,905.46 $340,708.77
130 $340,708.77 $1,801.15 $0.00 $1,926.42 $344,436.34
131 $344,436.34 $1,801.15 $0.00 $1,947.49 $348,184.98
132 $348,184.98 $1,801.15 $0.00 $1,968.69 $351,954.82
133 $351,954.82 $1,801.15 $0.00 $1,990.00 $355,745.97
134 $355,745.97 $1,801.15 $0.00 $2,011.44 $359,558.56
135 $359,558.56 $1,801.15 $0.00 $2,033.00 $363,392.71
136 $363,392.71 $1,801.15 $0.00 $2,054.68 $367,248.54
137 $367,248.54 $1,801.15 $0.00 $2,076.48 $371,126.17
138 $371,126.17 $1,801.15 $0.00 $2,098.40 $375,025.72
139 $375,025.72 $1,801.15 $0.00 $2,120.45 $378,947.32
140 $378,947.32 $1,801.15 $0.00 $2,142.62 $382,891.09
141 $382,891.09 $1,801.15 $0.00 $2,164.92 $386,857.16
142 $386,857.16 $1,801.15 $0.00 $2,187.35 $390,845.66
143 $390,845.66 $1,801.15 $0.00 $2,209.90 $394,856.71
144 $394,856.71 $1,801.15 $0.00 $2,232.58 $398,890.44
145 $398,890.44 $1,801.15 $0.00 $2,255.38 $402,946.97
146 $402,946.97 $1,801.15 $0.00 $2,278.32 $407,026.44
147 $407,026.44 $1,801.15 $0.00 $2,301.39 $411,128.98
148 $411,128.98 $1,801.15 $0.00 $2,324.58 $415,254.71
149 $415,254.71 $1,801.15 $0.00 $2,347.91 $419,403.77
150 $419,403.77 $1,801.15 $0.00 $2,371.37 $423,576.29
151 $423,576.29 $1,801.15 $0.00 $2,394.96 $427,772.40
152 $427,772.40 $1,801.15 $0.00 $2,418.69 $431,992.24
153 $431,992.24 $1,801.15 $0.00 $2,442.55 $436,235.94
154 $436,235.94 $1,801.15 $0.00 $2,466.54 $440,503.63
155 $440,503.63 $1,801.15 $0.00 $2,490.67 $444,795.45
156 $444,795.45 $1,801.15 $0.00 $2,514.94 $449,111.54
157 $449,111.54 $1,801.15 $0.00 $2,539.34 $453,452.03
158 $453,452.03 $1,801.15 $0.00 $2,563.88 $457,817.06
159 $457,817.06 $1,801.15 $0.00 $2,588.56 $462,206.77
160 $462,206.77 $1,801.15 $0.00 $2,613.38 $466,621.30
161 $466,621.30 $1,801.15 $0.00 $2,638.34 $471,060.79
162 $471,060.79 $1,801.15 $0.00 $2,663.45 $475,525.39
163 $475,525.39 $1,801.15 $0.00 $2,688.69 $480,015.23
164 $480,015.23 $1,801.15 $0.00 $2,714.08 $484,530.46
165 $484,530.46 $1,801.15 $0.00 $2,739.61 $489,071.22
166 $489,071.22 $1,801.15 $0.00 $2,765.28 $493,637.65
167 $493,637.65 $1,801.15 $0.00 $2,791.10 $498,229.90
168 $498,229.90 $1,801.15 $0.00 $2,817.06 $502,848.11
169 $502,848.11 $1,801.15 $0.00 $2,843.18 $507,492.44
170 $507,492.44 $1,801.15 $0.00 $2,869.44 $512,163.03
171 $512,163.03 $1,801.15 $0.00 $2,895.84 $516,860.02
172 $516,860.02 $1,801.15 $0.00 $2,922.40 $521,583.57
173 $521,583.57 $1,801.15 $0.00 $2,949.11 $526,333.83
174 $526,333.83 $1,801.15 $0.00 $2,975.97 $531,110.95
175 $531,110.95 $1,801.15 $0.00 $3,002.98 $535,915.08
176 $535,915.08 $1,801.15 $0.00 $3,030.14 $540,746.37
177 $540,746.37 $1,801.15 $0.00 $3,057.46 $545,604.98
178 $545,604.98 $1,801.15 $0.00 $3,084.93 $550,491.06
179 $550,491.06 $1,801.15 $0.00 $3,112.56 $555,404.77
180 $555,404.77 $1,801.15 $0.00 $3,140.34 $560,346.26
181 $560,346.26 $1,801.15 $0.00 $3,168.28 $565,315.69
182 $565,315.69 $1,801.15 $0.00 $3,196.38 $570,313.22
183 $570,313.22 $1,801.15 $0.00 $3,224.63 $575,339.00
184 $575,339.00 $1,801.15 $0.00 $3,253.05 $580,393.20
185 $580,393.20 $1,801.15 $0.00 $3,281.63 $585,475.98
186 $585,475.98 $1,801.15 $0.00 $3,310.37 $590,587.50
187 $590,587.50 $1,801.15 $0.00 $3,339.27 $595,727.92
188 $595,727.92 $1,801.15 $0.00 $3,368.33 $600,897.40
189 $600,897.40 $1,801.15 $0.00 $3,397.56 $606,096.11
190 $606,096.11 $1,801.15 $0.00 $3,426.96 $611,324.22
191 $611,324.22 $1,801.15 $0.00 $3,456.52 $616,581.89
192 $616,581.89 $1,801.15 $0.00 $3,486.24 $621,869.28
193 $621,869.28 $1,801.15 $0.00 $3,516.14 $627,186.57
194 $627,186.57 $1,801.15 $0.00 $3,546.20 $632,533.92
195 $632,533.92 $1,801.15 $0.00 $3,576.44 $637,911.51
196 $637,911.51 $1,801.15 $0.00 $3,606.84 $643,319.50
197 $643,319.50 $1,801.15 $0.00 $3,637.42 $648,758.07
198 $648,758.07 $1,801.15 $0.00 $3,668.17 $654,227.39
199 $654,227.39 $1,801.15 $0.00 $3,699.10 $659,727.64
200 $659,727.64 $1,801.15 $0.00 $3,730.20 $665,258.99
201 $665,258.99 $1,801.15 $0.00 $3,761.47 $670,821.61
202 $670,821.61 $1,801.15 $0.00 $3,792.92 $676,415.68
203 $676,415.68 $1,801.15 $0.00 $3,824.55 $682,041.38
204 $682,041.38 $1,801.15 $0.00 $3,856.36 $687,698.89
205 $687,698.89 $1,801.15 $0.00 $3,888.35 $693,388.39
206 $693,388.39 $1,801.15 $0.00 $3,920.52 $699,110.06
207 $699,110.06 $1,801.15 $0.00 $3,952.87 $704,864.08
208 $704,864.08 $1,801.15 $0.00 $3,985.40 $710,650.63
209 $710,650.63 $1,801.15 $0.00 $4,018.12 $716,469.90
210 $716,469.90 $1,801.15 $0.00 $4,051.02 $722,322.07
211 $722,322.07 $1,801.15 $0.00 $4,084.11 $728,207.33
212 $728,207.33 $1,801.15 $0.00 $4,117.39 $734,125.87
213 $734,125.87 $1,801.15 $0.00 $4,150.85 $740,077.87
214 $740,077.87 $1,801.15 $0.00 $4,184.51 $746,063.53
215 $746,063.53 $1,801.15 $0.00 $4,218.35 $752,083.03
216 $752,083.03 $1,801.15 $0.00 $4,252.39 $758,136.57
217 $758,136.57 $1,801.15 $205,317.37 $4,286.61 $558,906.96
218 $558,906.96 $1,801.15 $0.00 $3,160.14 $563,868.25
219 $563,868.25 $1,801.15 $0.00 $3,188.19 $568,857.59
220 $568,857.59 $1,801.15 $0.00 $3,216.40 $573,875.14
221 $573,875.14 $1,801.15 $0.00 $3,244.77 $578,921.06
222 $578,921.06 $1,801.15 $0.00 $3,273.30 $583,995.51
223 $583,995.51 $1,801.15 $0.00 $3,302.00 $589,098.66
224 $589,098.66 $1,801.15 $0.00 $3,330.85 $594,230.66
225 $594,230.66 $1,801.15 $0.00 $3,359.87 $599,391.68
226 $599,391.68 $1,801.15 $0.00 $3,389.05 $604,581.88
227 $604,581.88 $1,801.15 $0.00 $3,418.39 $609,801.42
228 $609,801.42 $1,801.15 $0.00 $3,447.91 $615,050.48
229 $615,050.48 $1,801.15 $219,689.58 $3,477.58 $400,639.63
230 $400,639.63 $1,801.15 $0.00 $2,265.27 $404,706.05
231 $404,706.05 $1,801.15 $0.00 $2,288.27 $408,795.47
232 $408,795.47 $1,801.15 $0.00 $2,311.39 $412,908.01
233 $412,908.01 $1,801.15 $0.00 $2,334.64 $417,043.80
234 $417,043.80 $1,801.15 $0.00 $2,358.03 $421,202.98
235 $421,202.98 $1,801.15 $0.00 $2,381.54 $425,385.67
236 $425,385.67 $1,801.15 $0.00 $2,405.19 $429,592.01
237 $429,592.01 $1,801.15 $0.00 $2,428.98 $433,822.14
238 $433,822.14 $1,801.15 $0.00 $2,452.89 $438,076.18
239 $438,076.18 $1,801.15 $0.00 $2,476.95 $442,354.28
240 $442,354.28 $1,801.15 $0.00 $2,501.14 $446,656.57
241 $446,656.57 $1,801.15 $235,067.85 $2,525.46 $215,915.33
242 $215,915.33 $1,801.15 $0.00 $1,220.82 $218,937.30
243 $218,937.30 $1,801.15 $0.00 $1,237.90 $221,976.35
244 $221,976.35 $1,801.15 $0.00 $1,255.09 $225,032.59
245 $225,032.59 $1,801.15 $0.00 $1,272.37 $228,106.11
246 $228,106.11 $1,801.15 $0.00 $1,289.75 $231,197.01
247 $231,197.01 $1,801.15 $0.00 $1,307.22 $234,305.38
248 $234,305.38 $1,801.15 $0.00 $1,324.80 $237,431.33
249 $237,431.33 $1,801.15 $0.00 $1,342.47 $240,574.95
250 $240,574.95 $1,801.15 $0.00 $1,360.25 $243,736.35
251 $243,736.35 $1,801.15 $0.00 $1,378.12 $246,915.62
252 $246,915.62 $1,801.15 $0.00 $1,396.10 $250,112.87
253 $250,112.87 $0.00 $251,522.60 $1,414.17 $4.44