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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$177,531
Monthly savings required$1,405

How much will it cost to send your child to University of Miami in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $710,123.92 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,405.31 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$68,460.00
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 $1,405.31 $0.00 $0.00 $1,405.31
2 $1,405.31 $1,405.31 $0.00 $7.95 $2,818.57
3 $2,818.57 $1,405.31 $0.00 $15.94 $4,239.82
4 $4,239.82 $1,405.31 $0.00 $23.97 $5,669.10
5 $5,669.10 $1,405.31 $0.00 $32.05 $7,106.46
6 $7,106.46 $1,405.31 $0.00 $40.18 $8,551.95
7 $8,551.95 $1,405.31 $0.00 $48.35 $10,005.61
8 $10,005.61 $1,405.31 $0.00 $56.57 $11,467.49
9 $11,467.49 $1,405.31 $0.00 $64.84 $12,937.64
10 $12,937.64 $1,405.31 $0.00 $73.15 $14,416.10
11 $14,416.10 $1,405.31 $0.00 $81.51 $15,902.92
12 $15,902.92 $1,405.31 $0.00 $89.92 $17,398.15
13 $17,398.15 $1,405.31 $0.00 $98.37 $18,901.83
14 $18,901.83 $1,405.31 $0.00 $106.87 $20,414.01
15 $20,414.01 $1,405.31 $0.00 $115.42 $21,934.74
16 $21,934.74 $1,405.31 $0.00 $124.02 $23,464.07
17 $23,464.07 $1,405.31 $0.00 $132.67 $25,002.05
18 $25,002.05 $1,405.31 $0.00 $141.37 $26,548.73
19 $26,548.73 $1,405.31 $0.00 $150.11 $28,104.15
20 $28,104.15 $1,405.31 $0.00 $158.90 $29,668.36
21 $29,668.36 $1,405.31 $0.00 $167.75 $31,241.42
22 $31,241.42 $1,405.31 $0.00 $176.64 $32,823.37
23 $32,823.37 $1,405.31 $0.00 $185.59 $34,414.27
24 $34,414.27 $1,405.31 $0.00 $194.58 $36,014.16
25 $36,014.16 $1,405.31 $0.00 $203.63 $37,623.10
26 $37,623.10 $1,405.31 $0.00 $212.73 $39,241.14
27 $39,241.14 $1,405.31 $0.00 $221.88 $40,868.33
28 $40,868.33 $1,405.31 $0.00 $231.08 $42,504.72
29 $42,504.72 $1,405.31 $0.00 $240.33 $44,150.36
30 $44,150.36 $1,405.31 $0.00 $249.63 $45,805.30
31 $45,805.30 $1,405.31 $0.00 $258.99 $47,469.60
32 $47,469.60 $1,405.31 $0.00 $268.40 $49,143.31
33 $49,143.31 $1,405.31 $0.00 $277.86 $50,826.48
34 $50,826.48 $1,405.31 $0.00 $287.38 $52,519.17
35 $52,519.17 $1,405.31 $0.00 $296.95 $54,221.43
36 $54,221.43 $1,405.31 $0.00 $306.58 $55,933.32
37 $55,933.32 $1,405.31 $0.00 $316.26 $57,654.89
38 $57,654.89 $1,405.31 $0.00 $325.99 $59,386.19
39 $59,386.19 $1,405.31 $0.00 $335.78 $61,127.28
40 $61,127.28 $1,405.31 $0.00 $345.62 $62,878.21
41 $62,878.21 $1,405.31 $0.00 $355.52 $64,639.04
42 $64,639.04 $1,405.31 $0.00 $365.48 $66,409.83
43 $66,409.83 $1,405.31 $0.00 $375.49 $68,190.63
44 $68,190.63 $1,405.31 $0.00 $385.56 $69,981.50
45 $69,981.50 $1,405.31 $0.00 $395.69 $71,782.50
46 $71,782.50 $1,405.31 $0.00 $405.87 $73,593.68
47 $73,593.68 $1,405.31 $0.00 $416.11 $75,415.10
48 $75,415.10 $1,405.31 $0.00 $426.41 $77,246.82
49 $77,246.82 $1,405.31 $0.00 $436.76 $79,088.89
50 $79,088.89 $1,405.31 $0.00 $447.18 $80,941.38
51 $80,941.38 $1,405.31 $0.00 $457.65 $82,804.34
52 $82,804.34 $1,405.31 $0.00 $468.19 $84,677.84
53 $84,677.84 $1,405.31 $0.00 $478.78 $86,561.93
54 $86,561.93 $1,405.31 $0.00 $489.43 $88,456.67
55 $88,456.67 $1,405.31 $0.00 $500.15 $90,362.13
56 $90,362.13 $1,405.31 $0.00 $510.92 $92,278.36
57 $92,278.36 $1,405.31 $0.00 $521.76 $94,205.43
58 $94,205.43 $1,405.31 $0.00 $532.65 $96,143.39
59 $96,143.39 $1,405.31 $0.00 $543.61 $98,092.31
60 $98,092.31 $1,405.31 $0.00 $554.63 $100,052.25
61 $100,052.25 $1,405.31 $0.00 $565.71 $102,023.27
62 $102,023.27 $1,405.31 $0.00 $576.85 $104,005.43
63 $104,005.43 $1,405.31 $0.00 $588.06 $105,998.80
64 $105,998.80 $1,405.31 $0.00 $599.33 $108,003.44
65 $108,003.44 $1,405.31 $0.00 $610.67 $110,019.42
66 $110,019.42 $1,405.31 $0.00 $622.07 $112,046.80
67 $112,046.80 $1,405.31 $0.00 $633.53 $114,085.64
68 $114,085.64 $1,405.31 $0.00 $645.06 $116,136.01
69 $116,136.01 $1,405.31 $0.00 $656.65 $118,197.97
70 $118,197.97 $1,405.31 $0.00 $668.31 $120,271.59
71 $120,271.59 $1,405.31 $0.00 $680.03 $122,356.93
72 $122,356.93 $1,405.31 $0.00 $691.82 $124,454.06
73 $124,454.06 $1,405.31 $0.00 $703.68 $126,563.05
74 $126,563.05 $1,405.31 $0.00 $715.61 $128,683.97
75 $128,683.97 $1,405.31 $0.00 $727.60 $130,816.88
76 $130,816.88 $1,405.31 $0.00 $739.66 $132,961.85
77 $132,961.85 $1,405.31 $0.00 $751.79 $135,118.95
78 $135,118.95 $1,405.31 $0.00 $763.98 $137,288.24
79 $137,288.24 $1,405.31 $0.00 $776.25 $139,469.80
80 $139,469.80 $1,405.31 $0.00 $788.58 $141,663.69
81 $141,663.69 $1,405.31 $0.00 $800.99 $143,869.99
82 $143,869.99 $1,405.31 $0.00 $813.46 $146,088.76
83 $146,088.76 $1,405.31 $0.00 $826.01 $148,320.08
84 $148,320.08 $1,405.31 $0.00 $838.62 $150,564.01
85 $150,564.01 $1,405.31 $0.00 $851.31 $152,820.63
86 $152,820.63 $1,405.31 $0.00 $864.07 $155,090.01
87 $155,090.01 $1,405.31 $0.00 $876.90 $157,372.22
88 $157,372.22 $1,405.31 $0.00 $889.81 $159,667.34
89 $159,667.34 $1,405.31 $0.00 $902.78 $161,975.43
90 $161,975.43 $1,405.31 $0.00 $915.83 $164,296.57
91 $164,296.57 $1,405.31 $0.00 $928.96 $166,630.84
92 $166,630.84 $1,405.31 $0.00 $942.15 $168,978.30
93 $168,978.30 $1,405.31 $0.00 $955.43 $171,339.04
94 $171,339.04 $1,405.31 $0.00 $968.78 $173,713.13
95 $173,713.13 $1,405.31 $0.00 $982.20 $176,100.64
96 $176,100.64 $1,405.31 $0.00 $995.70 $178,501.65
97 $178,501.65 $1,405.31 $0.00 $1,009.27 $180,916.23
98 $180,916.23 $1,405.31 $0.00 $1,022.93 $183,344.47
99 $183,344.47 $1,405.31 $0.00 $1,036.66 $185,786.44
100 $185,786.44 $1,405.31 $0.00 $1,050.46 $188,242.21
101 $188,242.21 $1,405.31 $0.00 $1,064.35 $190,711.87
102 $190,711.87 $1,405.31 $0.00 $1,078.31 $193,195.49
103 $193,195.49 $1,405.31 $0.00 $1,092.36 $195,693.16
104 $195,693.16 $1,405.31 $0.00 $1,106.48 $198,204.95
105 $198,204.95 $1,405.31 $0.00 $1,120.68 $200,730.94
106 $200,730.94 $1,405.31 $0.00 $1,134.96 $203,271.21
107 $203,271.21 $1,405.31 $0.00 $1,149.32 $205,825.84
108 $205,825.84 $1,405.31 $0.00 $1,163.77 $208,394.92
109 $208,394.92 $1,405.31 $0.00 $1,178.30 $210,978.53
110 $210,978.53 $1,405.31 $0.00 $1,192.90 $213,576.74
111 $213,576.74 $1,405.31 $0.00 $1,207.59 $216,189.64
112 $216,189.64 $1,405.31 $0.00 $1,222.37 $218,817.32
113 $218,817.32 $1,405.31 $0.00 $1,237.22 $221,459.85
114 $221,459.85 $1,405.31 $0.00 $1,252.17 $224,117.33
115 $224,117.33 $1,405.31 $0.00 $1,267.19 $226,789.83
116 $226,789.83 $1,405.31 $0.00 $1,282.30 $229,477.44
117 $229,477.44 $1,405.31 $0.00 $1,297.50 $232,180.25
118 $232,180.25 $1,405.31 $0.00 $1,312.78 $234,898.34
119 $234,898.34 $1,405.31 $0.00 $1,328.15 $237,631.80
120 $237,631.80 $1,405.31 $0.00 $1,343.60 $240,380.71
121 $240,380.71 $1,405.31 $0.00 $1,359.15 $243,145.17
122 $243,145.17 $1,405.31 $0.00 $1,374.78 $245,925.26
123 $245,925.26 $1,405.31 $0.00 $1,390.50 $248,721.07
124 $248,721.07 $1,405.31 $0.00 $1,406.31 $251,532.69
125 $251,532.69 $1,405.31 $0.00 $1,422.20 $254,360.20
126 $254,360.20 $1,405.31 $0.00 $1,438.19 $257,203.70
127 $257,203.70 $1,405.31 $0.00 $1,454.27 $260,063.28
128 $260,063.28 $1,405.31 $0.00 $1,470.44 $262,939.03
129 $262,939.03 $1,405.31 $0.00 $1,486.70 $265,831.04
130 $265,831.04 $1,405.31 $0.00 $1,503.05 $268,739.40
131 $268,739.40 $1,405.31 $0.00 $1,519.49 $271,664.20
132 $271,664.20 $1,405.31 $0.00 $1,536.03 $274,605.54
133 $274,605.54 $1,405.31 $0.00 $1,552.66 $277,563.51
134 $277,563.51 $1,405.31 $0.00 $1,569.38 $280,538.20
135 $280,538.20 $1,405.31 $0.00 $1,586.20 $283,529.71
136 $283,529.71 $1,405.31 $0.00 $1,603.12 $286,538.14
137 $286,538.14 $1,405.31 $0.00 $1,620.13 $289,563.58
138 $289,563.58 $1,405.31 $0.00 $1,637.23 $292,606.12
139 $292,606.12 $1,405.31 $0.00 $1,654.44 $295,665.87
140 $295,665.87 $1,405.31 $0.00 $1,671.74 $298,742.92
141 $298,742.92 $1,405.31 $0.00 $1,689.14 $301,837.37
142 $301,837.37 $1,405.31 $0.00 $1,706.63 $304,949.31
143 $304,949.31 $1,405.31 $0.00 $1,724.23 $308,078.85
144 $308,078.85 $1,405.31 $0.00 $1,741.92 $311,226.08
145 $311,226.08 $1,405.31 $0.00 $1,759.72 $314,391.11
146 $314,391.11 $1,405.31 $0.00 $1,777.61 $317,574.03
147 $317,574.03 $1,405.31 $0.00 $1,795.61 $320,774.95
148 $320,774.95 $1,405.31 $0.00 $1,813.71 $323,993.97
149 $323,993.97 $1,405.31 $0.00 $1,831.91 $327,231.19
150 $327,231.19 $1,405.31 $0.00 $1,850.21 $330,486.71
151 $330,486.71 $1,405.31 $0.00 $1,868.62 $333,760.64
152 $333,760.64 $1,405.31 $0.00 $1,887.13 $337,053.08
153 $337,053.08 $1,405.31 $0.00 $1,905.75 $340,364.14
154 $340,364.14 $1,405.31 $0.00 $1,924.47 $343,693.92
155 $343,693.92 $1,405.31 $0.00 $1,943.30 $347,042.53
156 $347,042.53 $1,405.31 $0.00 $1,962.23 $350,410.07
157 $350,410.07 $1,405.31 $0.00 $1,981.27 $353,796.65
158 $353,796.65 $1,405.31 $0.00 $2,000.42 $357,202.38
159 $357,202.38 $1,405.31 $0.00 $2,019.67 $360,627.36
160 $360,627.36 $1,405.31 $0.00 $2,039.04 $364,071.71
161 $364,071.71 $1,405.31 $0.00 $2,058.51 $367,535.53
162 $367,535.53 $1,405.31 $0.00 $2,078.10 $371,018.94
163 $371,018.94 $1,405.31 $0.00 $2,097.80 $374,522.05
164 $374,522.05 $1,405.31 $0.00 $2,117.60 $378,044.96
165 $378,044.96 $1,405.31 $0.00 $2,137.52 $381,587.79
166 $381,587.79 $1,405.31 $0.00 $2,157.55 $385,150.65
167 $385,150.65 $1,405.31 $0.00 $2,177.70 $388,733.66
168 $388,733.66 $1,405.31 $0.00 $2,197.96 $392,336.93
169 $392,336.93 $1,405.31 $0.00 $2,218.33 $395,960.57
170 $395,960.57 $1,405.31 $0.00 $2,238.82 $399,604.70
171 $399,604.70 $1,405.31 $0.00 $2,259.42 $403,269.43
172 $403,269.43 $1,405.31 $0.00 $2,280.14 $406,954.88
173 $406,954.88 $1,405.31 $0.00 $2,300.98 $410,661.17
174 $410,661.17 $1,405.31 $0.00 $2,321.94 $414,388.42
175 $414,388.42 $1,405.31 $0.00 $2,343.01 $418,136.74
176 $418,136.74 $1,405.31 $0.00 $2,364.21 $421,906.26
177 $421,906.26 $1,405.31 $0.00 $2,385.52 $425,697.09
178 $425,697.09 $1,405.31 $0.00 $2,406.95 $429,509.35
179 $429,509.35 $1,405.31 $0.00 $2,428.51 $433,343.17
180 $433,343.17 $1,405.31 $0.00 $2,450.19 $437,198.67
181 $437,198.67 $1,405.31 $0.00 $2,471.98 $441,075.96
182 $441,075.96 $1,405.31 $0.00 $2,493.91 $444,975.18
183 $444,975.18 $1,405.31 $0.00 $2,515.95 $448,896.44
184 $448,896.44 $1,405.31 $0.00 $2,538.13 $452,839.88
185 $452,839.88 $1,405.31 $0.00 $2,560.42 $456,805.61
186 $456,805.61 $1,405.31 $0.00 $2,582.85 $460,793.77
187 $460,793.77 $1,405.31 $0.00 $2,605.39 $464,804.47
188 $464,804.47 $1,405.31 $0.00 $2,628.07 $468,837.85
189 $468,837.85 $1,405.31 $0.00 $2,650.88 $472,894.04
190 $472,894.04 $1,405.31 $0.00 $2,673.81 $476,973.16
191 $476,973.16 $1,405.31 $0.00 $2,696.88 $481,075.35
192 $481,075.35 $1,405.31 $0.00 $2,720.07 $485,200.73
193 $485,200.73 $1,405.31 $0.00 $2,743.40 $489,349.44
194 $489,349.44 $1,405.31 $0.00 $2,766.85 $493,521.60
195 $493,521.60 $1,405.31 $0.00 $2,790.44 $497,717.35
196 $497,717.35 $1,405.31 $0.00 $2,814.17 $501,936.83
197 $501,936.83 $1,405.31 $0.00 $2,838.02 $506,180.16
198 $506,180.16 $1,405.31 $0.00 $2,862.02 $510,447.49
199 $510,447.49 $1,405.31 $0.00 $2,886.14 $514,738.94
200 $514,738.94 $1,405.31 $0.00 $2,910.41 $519,054.66
201 $519,054.66 $1,405.31 $0.00 $2,934.81 $523,394.78
202 $523,394.78 $1,405.31 $0.00 $2,959.35 $527,759.44
203 $527,759.44 $1,405.31 $0.00 $2,984.03 $532,148.78
204 $532,148.78 $1,405.31 $0.00 $3,008.85 $536,562.94
205 $536,562.94 $1,405.31 $0.00 $3,033.80 $541,002.05
206 $541,002.05 $1,405.31 $0.00 $3,058.90 $545,466.26
207 $545,466.26 $1,405.31 $0.00 $3,084.15 $549,955.72
208 $549,955.72 $1,405.31 $0.00 $3,109.53 $554,470.56
209 $554,470.56 $1,405.31 $0.00 $3,135.06 $559,010.93
210 $559,010.93 $1,405.31 $0.00 $3,160.73 $563,576.97
211 $563,576.97 $1,405.31 $0.00 $3,186.55 $568,168.83
212 $568,168.83 $1,405.31 $0.00 $3,212.51 $572,786.65
213 $572,786.65 $1,405.31 $0.00 $3,238.62 $577,430.58
214 $577,430.58 $1,405.31 $0.00 $3,264.88 $582,100.77
215 $582,100.77 $1,405.31 $0.00 $3,291.28 $586,797.36
216 $586,797.36 $1,405.31 $0.00 $3,317.84 $591,520.51
217 $591,520.51 $1,405.31 $164,757.15 $3,344.54 $431,513.21
218 $431,513.21 $1,405.31 $0.00 $2,439.84 $435,358.36
219 $435,358.36 $1,405.31 $0.00 $2,461.58 $439,225.25
220 $439,225.25 $1,405.31 $0.00 $2,483.44 $443,114.00
221 $443,114.00 $1,405.31 $0.00 $2,505.43 $447,024.74
222 $447,024.74 $1,405.31 $0.00 $2,527.54 $450,957.59
223 $450,957.59 $1,405.31 $0.00 $2,549.78 $454,912.68
224 $454,912.68 $1,405.31 $0.00 $2,572.14 $458,890.13
225 $458,890.13 $1,405.31 $0.00 $2,594.63 $462,890.07
226 $462,890.07 $1,405.31 $0.00 $2,617.25 $466,912.63
227 $466,912.63 $1,405.31 $0.00 $2,639.99 $470,957.93
228 $470,957.93 $1,405.31 $0.00 $2,662.86 $475,026.10
229 $475,026.10 $1,405.31 $172,995.01 $2,685.87 $306,122.27
230 $306,122.27 $1,405.31 $0.00 $1,730.86 $309,258.44
231 $309,258.44 $1,405.31 $0.00 $1,748.59 $312,412.34
232 $312,412.34 $1,405.31 $0.00 $1,766.42 $315,584.07
233 $315,584.07 $1,405.31 $0.00 $1,784.36 $318,773.74
234 $318,773.74 $1,405.31 $0.00 $1,802.39 $321,981.44
235 $321,981.44 $1,405.31 $0.00 $1,820.53 $325,207.28
236 $325,207.28 $1,405.31 $0.00 $1,838.77 $328,451.36
237 $328,451.36 $1,405.31 $0.00 $1,857.11 $331,713.78
238 $331,713.78 $1,405.31 $0.00 $1,875.56 $334,994.65
239 $334,994.65 $1,405.31 $0.00 $1,894.11 $338,294.07
240 $338,294.07 $1,405.31 $0.00 $1,912.76 $341,612.14
241 $341,612.14 $1,405.31 $181,644.76 $1,931.52 $163,304.21
242 $163,304.21 $1,405.31 $0.00 $923.35 $165,632.87
243 $165,632.87 $1,405.31 $0.00 $936.51 $167,974.69
244 $167,974.69 $1,405.31 $0.00 $949.75 $170,329.75
245 $170,329.75 $1,405.31 $0.00 $963.07 $172,698.13
246 $172,698.13 $1,405.31 $0.00 $976.46 $175,079.90
247 $175,079.90 $1,405.31 $0.00 $989.93 $177,475.14
248 $177,475.14 $1,405.31 $0.00 $1,003.47 $179,883.92
249 $179,883.92 $1,405.31 $0.00 $1,017.09 $182,306.32
250 $182,306.32 $1,405.31 $0.00 $1,030.79 $184,742.42
251 $184,742.42 $1,405.31 $0.00 $1,044.56 $187,192.29
252 $187,192.29 $1,405.31 $0.00 $1,058.41 $189,656.01
253 $189,656.01 $0.00 $190,727.00 $1,072.34 $1.35