Savings Plan and Future Cost Estimation for Benedictine University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$185,078
Monthly savings required$1,463

How much will it cost to send your child to Benedictine University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $740,310.85 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,462.71 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$49,332.00
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 $1,462.71 $0.00 $0.00 $1,462.71
2 $1,462.71 $1,462.71 $0.00 $8.27 $2,933.69
3 $2,933.69 $1,462.71 $0.00 $16.59 $4,412.99
4 $4,412.99 $1,462.71 $0.00 $24.95 $5,900.65
5 $5,900.65 $1,462.71 $0.00 $33.36 $7,396.72
6 $7,396.72 $1,462.71 $0.00 $41.82 $8,901.25
7 $8,901.25 $1,462.71 $0.00 $50.33 $10,414.29
8 $10,414.29 $1,462.71 $0.00 $58.88 $11,935.88
9 $11,935.88 $1,462.71 $0.00 $67.49 $13,466.08
10 $13,466.08 $1,462.71 $0.00 $76.14 $15,004.93
11 $15,004.93 $1,462.71 $0.00 $84.84 $16,552.48
12 $16,552.48 $1,462.71 $0.00 $93.59 $18,108.78
13 $18,108.78 $1,462.71 $0.00 $102.39 $19,673.88
14 $19,673.88 $1,462.71 $0.00 $111.24 $21,247.83
15 $21,247.83 $1,462.71 $0.00 $120.14 $22,830.68
16 $22,830.68 $1,462.71 $0.00 $129.09 $24,422.48
17 $24,422.48 $1,462.71 $0.00 $138.09 $26,023.28
18 $26,023.28 $1,462.71 $0.00 $147.14 $27,633.13
19 $27,633.13 $1,462.71 $0.00 $156.24 $29,252.08
20 $29,252.08 $1,462.71 $0.00 $165.40 $30,880.19
21 $30,880.19 $1,462.71 $0.00 $174.60 $32,517.50
22 $32,517.50 $1,462.71 $0.00 $183.86 $34,164.07
23 $34,164.07 $1,462.71 $0.00 $193.17 $35,819.95
24 $35,819.95 $1,462.71 $0.00 $202.53 $37,485.19
25 $37,485.19 $1,462.71 $0.00 $211.95 $39,159.85
26 $39,159.85 $1,462.71 $0.00 $221.42 $40,843.98
27 $40,843.98 $1,462.71 $0.00 $230.94 $42,537.63
28 $42,537.63 $1,462.71 $0.00 $240.51 $44,240.85
29 $44,240.85 $1,462.71 $0.00 $250.14 $45,953.70
30 $45,953.70 $1,462.71 $0.00 $259.83 $47,676.24
31 $47,676.24 $1,462.71 $0.00 $269.57 $49,408.52
32 $49,408.52 $1,462.71 $0.00 $279.36 $51,150.59
33 $51,150.59 $1,462.71 $0.00 $289.21 $52,902.51
34 $52,902.51 $1,462.71 $0.00 $299.12 $54,664.34
35 $54,664.34 $1,462.71 $0.00 $309.08 $56,436.13
36 $56,436.13 $1,462.71 $0.00 $319.10 $58,217.94
37 $58,217.94 $1,462.71 $0.00 $329.17 $60,009.82
38 $60,009.82 $1,462.71 $0.00 $339.30 $61,811.83
39 $61,811.83 $1,462.71 $0.00 $349.49 $63,624.03
40 $63,624.03 $1,462.71 $0.00 $359.74 $65,446.48
41 $65,446.48 $1,462.71 $0.00 $370.04 $67,279.23
42 $67,279.23 $1,462.71 $0.00 $380.41 $69,122.35
43 $69,122.35 $1,462.71 $0.00 $390.83 $70,975.89
44 $70,975.89 $1,462.71 $0.00 $401.31 $72,839.91
45 $72,839.91 $1,462.71 $0.00 $411.85 $74,714.47
46 $74,714.47 $1,462.71 $0.00 $422.45 $76,599.63
47 $76,599.63 $1,462.71 $0.00 $433.11 $78,495.45
48 $78,495.45 $1,462.71 $0.00 $443.82 $80,401.98
49 $80,401.98 $1,462.71 $0.00 $454.60 $82,319.29
50 $82,319.29 $1,462.71 $0.00 $465.45 $84,247.45
51 $84,247.45 $1,462.71 $0.00 $476.35 $86,186.51
52 $86,186.51 $1,462.71 $0.00 $487.31 $88,136.53
53 $88,136.53 $1,462.71 $0.00 $498.34 $90,097.58
54 $90,097.58 $1,462.71 $0.00 $509.42 $92,069.71
55 $92,069.71 $1,462.71 $0.00 $520.58 $94,053.00
56 $94,053.00 $1,462.71 $0.00 $531.79 $96,047.50
57 $96,047.50 $1,462.71 $0.00 $543.07 $98,053.28
58 $98,053.28 $1,462.71 $0.00 $554.41 $100,070.40
59 $100,070.40 $1,462.71 $0.00 $565.81 $102,098.92
60 $102,098.92 $1,462.71 $0.00 $577.28 $104,138.91
61 $104,138.91 $1,462.71 $0.00 $588.82 $106,190.44
62 $106,190.44 $1,462.71 $0.00 $600.42 $108,253.57
63 $108,253.57 $1,462.71 $0.00 $612.08 $110,328.36
64 $110,328.36 $1,462.71 $0.00 $623.81 $112,414.88
65 $112,414.88 $1,462.71 $0.00 $635.61 $114,513.20
66 $114,513.20 $1,462.71 $0.00 $647.47 $116,623.38
67 $116,623.38 $1,462.71 $0.00 $659.41 $118,745.50
68 $118,745.50 $1,462.71 $0.00 $671.40 $120,879.61
69 $120,879.61 $1,462.71 $0.00 $683.47 $123,025.79
70 $123,025.79 $1,462.71 $0.00 $695.61 $125,184.11
71 $125,184.11 $1,462.71 $0.00 $707.81 $127,354.63
72 $127,354.63 $1,462.71 $0.00 $720.08 $129,537.42
73 $129,537.42 $1,462.71 $0.00 $732.42 $131,732.55
74 $131,732.55 $1,462.71 $0.00 $744.83 $133,940.09
75 $133,940.09 $1,462.71 $0.00 $757.32 $136,160.12
76 $136,160.12 $1,462.71 $0.00 $769.87 $138,392.70
77 $138,392.70 $1,462.71 $0.00 $782.49 $140,637.90
78 $140,637.90 $1,462.71 $0.00 $795.19 $142,895.80
79 $142,895.80 $1,462.71 $0.00 $807.95 $145,166.46
80 $145,166.46 $1,462.71 $0.00 $820.79 $147,449.96
81 $147,449.96 $1,462.71 $0.00 $833.70 $149,746.37
82 $149,746.37 $1,462.71 $0.00 $846.69 $152,055.77
83 $152,055.77 $1,462.71 $0.00 $859.75 $154,378.23
84 $154,378.23 $1,462.71 $0.00 $872.88 $156,713.82
85 $156,713.82 $1,462.71 $0.00 $886.08 $159,062.61
86 $159,062.61 $1,462.71 $0.00 $899.36 $161,424.68
87 $161,424.68 $1,462.71 $0.00 $912.72 $163,800.11
88 $163,800.11 $1,462.71 $0.00 $926.15 $166,188.97
89 $166,188.97 $1,462.71 $0.00 $939.66 $168,591.34
90 $168,591.34 $1,462.71 $0.00 $953.24 $171,007.29
91 $171,007.29 $1,462.71 $0.00 $966.90 $173,436.90
92 $173,436.90 $1,462.71 $0.00 $980.64 $175,880.25
93 $175,880.25 $1,462.71 $0.00 $994.45 $178,337.41
94 $178,337.41 $1,462.71 $0.00 $1,008.35 $180,808.47
95 $180,808.47 $1,462.71 $0.00 $1,022.32 $183,293.50
96 $183,293.50 $1,462.71 $0.00 $1,036.37 $185,792.58
97 $185,792.58 $1,462.71 $0.00 $1,050.50 $188,305.79
98 $188,305.79 $1,462.71 $0.00 $1,064.71 $190,833.21
99 $190,833.21 $1,462.71 $0.00 $1,079.00 $193,374.92
100 $193,374.92 $1,462.71 $0.00 $1,093.37 $195,931.00
101 $195,931.00 $1,462.71 $0.00 $1,107.82 $198,501.53
102 $198,501.53 $1,462.71 $0.00 $1,122.36 $201,086.60
103 $201,086.60 $1,462.71 $0.00 $1,136.97 $203,686.28
104 $203,686.28 $1,462.71 $0.00 $1,151.67 $206,300.66
105 $206,300.66 $1,462.71 $0.00 $1,166.45 $208,929.82
106 $208,929.82 $1,462.71 $0.00 $1,181.32 $211,573.85
107 $211,573.85 $1,462.71 $0.00 $1,196.27 $214,232.83
108 $214,232.83 $1,462.71 $0.00 $1,211.30 $216,906.84
109 $216,906.84 $1,462.71 $0.00 $1,226.42 $219,595.97
110 $219,595.97 $1,462.71 $0.00 $1,241.63 $222,300.31
111 $222,300.31 $1,462.71 $0.00 $1,256.92 $225,019.94
112 $225,019.94 $1,462.71 $0.00 $1,272.30 $227,754.95
113 $227,754.95 $1,462.71 $0.00 $1,287.76 $230,505.42
114 $230,505.42 $1,462.71 $0.00 $1,303.31 $233,271.44
115 $233,271.44 $1,462.71 $0.00 $1,318.95 $236,053.10
116 $236,053.10 $1,462.71 $0.00 $1,334.68 $238,850.49
117 $238,850.49 $1,462.71 $0.00 $1,350.50 $241,663.70
118 $241,663.70 $1,462.71 $0.00 $1,366.40 $244,492.81
119 $244,492.81 $1,462.71 $0.00 $1,382.40 $247,337.92
120 $247,337.92 $1,462.71 $0.00 $1,398.48 $250,199.11
121 $250,199.11 $1,462.71 $0.00 $1,414.66 $253,076.48
122 $253,076.48 $1,462.71 $0.00 $1,430.93 $255,970.12
123 $255,970.12 $1,462.71 $0.00 $1,447.29 $258,880.12
124 $258,880.12 $1,462.71 $0.00 $1,463.75 $261,806.58
125 $261,806.58 $1,462.71 $0.00 $1,480.29 $264,749.58
126 $264,749.58 $1,462.71 $0.00 $1,496.93 $267,709.22
127 $267,709.22 $1,462.71 $0.00 $1,513.67 $270,685.60
128 $270,685.60 $1,462.71 $0.00 $1,530.50 $273,678.81
129 $273,678.81 $1,462.71 $0.00 $1,547.42 $276,688.94
130 $276,688.94 $1,462.71 $0.00 $1,564.44 $279,716.09
131 $279,716.09 $1,462.71 $0.00 $1,581.56 $282,760.36
132 $282,760.36 $1,462.71 $0.00 $1,598.77 $285,821.84
133 $285,821.84 $1,462.71 $0.00 $1,616.08 $288,900.63
134 $288,900.63 $1,462.71 $0.00 $1,633.49 $291,996.83
135 $291,996.83 $1,462.71 $0.00 $1,650.99 $295,110.53
136 $295,110.53 $1,462.71 $0.00 $1,668.60 $298,241.84
137 $298,241.84 $1,462.71 $0.00 $1,686.30 $301,390.85
138 $301,390.85 $1,462.71 $0.00 $1,704.11 $304,557.67
139 $304,557.67 $1,462.71 $0.00 $1,722.01 $307,742.39
140 $307,742.39 $1,462.71 $0.00 $1,740.02 $310,945.12
141 $310,945.12 $1,462.71 $0.00 $1,758.13 $314,165.96
142 $314,165.96 $1,462.71 $0.00 $1,776.34 $317,405.01
143 $317,405.01 $1,462.71 $0.00 $1,794.65 $320,662.37
144 $320,662.37 $1,462.71 $0.00 $1,813.07 $323,938.15
145 $323,938.15 $1,462.71 $0.00 $1,831.59 $327,232.45
146 $327,232.45 $1,462.71 $0.00 $1,850.22 $330,545.38
147 $330,545.38 $1,462.71 $0.00 $1,868.95 $333,877.04
148 $333,877.04 $1,462.71 $0.00 $1,887.79 $337,227.54
149 $337,227.54 $1,462.71 $0.00 $1,906.73 $340,596.98
150 $340,596.98 $1,462.71 $0.00 $1,925.78 $343,985.47
151 $343,985.47 $1,462.71 $0.00 $1,944.94 $347,393.12
152 $347,393.12 $1,462.71 $0.00 $1,964.21 $350,820.04
153 $350,820.04 $1,462.71 $0.00 $1,983.59 $354,266.34
154 $354,266.34 $1,462.71 $0.00 $2,003.07 $357,732.12
155 $357,732.12 $1,462.71 $0.00 $2,022.67 $361,217.50
156 $361,217.50 $1,462.71 $0.00 $2,042.38 $364,722.59
157 $364,722.59 $1,462.71 $0.00 $2,062.19 $368,247.49
158 $368,247.49 $1,462.71 $0.00 $2,082.12 $371,792.32
159 $371,792.32 $1,462.71 $0.00 $2,102.17 $375,357.20
160 $375,357.20 $1,462.71 $0.00 $2,122.32 $378,942.23
161 $378,942.23 $1,462.71 $0.00 $2,142.59 $382,547.53
162 $382,547.53 $1,462.71 $0.00 $2,162.98 $386,173.22
163 $386,173.22 $1,462.71 $0.00 $2,183.48 $389,819.41
164 $389,819.41 $1,462.71 $0.00 $2,204.10 $393,486.22
165 $393,486.22 $1,462.71 $0.00 $2,224.83 $397,173.76
166 $397,173.76 $1,462.71 $0.00 $2,245.68 $400,882.15
167 $400,882.15 $1,462.71 $0.00 $2,266.65 $404,611.51
168 $404,611.51 $1,462.71 $0.00 $2,287.73 $408,361.95
169 $408,361.95 $1,462.71 $0.00 $2,308.94 $412,133.60
170 $412,133.60 $1,462.71 $0.00 $2,330.26 $415,926.57
171 $415,926.57 $1,462.71 $0.00 $2,351.71 $419,740.99
172 $419,740.99 $1,462.71 $0.00 $2,373.28 $423,576.98
173 $423,576.98 $1,462.71 $0.00 $2,394.97 $427,434.66
174 $427,434.66 $1,462.71 $0.00 $2,416.78 $431,314.15
175 $431,314.15 $1,462.71 $0.00 $2,438.71 $435,215.57
176 $435,215.57 $1,462.71 $0.00 $2,460.77 $439,139.05
177 $439,139.05 $1,462.71 $0.00 $2,482.96 $443,084.72
178 $443,084.72 $1,462.71 $0.00 $2,505.27 $447,052.70
179 $447,052.70 $1,462.71 $0.00 $2,527.70 $451,043.11
180 $451,043.11 $1,462.71 $0.00 $2,550.26 $455,056.08
181 $455,056.08 $1,462.71 $0.00 $2,572.95 $459,091.74
182 $459,091.74 $1,462.71 $0.00 $2,595.77 $463,150.22
183 $463,150.22 $1,462.71 $0.00 $2,618.72 $467,231.65
184 $467,231.65 $1,462.71 $0.00 $2,641.80 $471,336.16
185 $471,336.16 $1,462.71 $0.00 $2,665.00 $475,463.87
186 $475,463.87 $1,462.71 $0.00 $2,688.34 $479,614.92
187 $479,614.92 $1,462.71 $0.00 $2,711.81 $483,789.44
188 $483,789.44 $1,462.71 $0.00 $2,735.42 $487,987.57
189 $487,987.57 $1,462.71 $0.00 $2,759.15 $492,209.43
190 $492,209.43 $1,462.71 $0.00 $2,783.02 $496,455.16
191 $496,455.16 $1,462.71 $0.00 $2,807.03 $500,724.90
192 $500,724.90 $1,462.71 $0.00 $2,831.17 $505,018.78
193 $505,018.78 $1,462.71 $0.00 $2,855.45 $509,336.94
194 $509,336.94 $1,462.71 $0.00 $2,879.87 $513,679.52
195 $513,679.52 $1,462.71 $0.00 $2,904.42 $518,046.65
196 $518,046.65 $1,462.71 $0.00 $2,929.11 $522,438.47
197 $522,438.47 $1,462.71 $0.00 $2,953.94 $526,855.12
198 $526,855.12 $1,462.71 $0.00 $2,978.92 $531,296.75
199 $531,296.75 $1,462.71 $0.00 $3,004.03 $535,763.49
200 $535,763.49 $1,462.71 $0.00 $3,029.28 $540,255.48
201 $540,255.48 $1,462.71 $0.00 $3,054.68 $544,772.87
202 $544,772.87 $1,462.71 $0.00 $3,080.23 $549,315.81
203 $549,315.81 $1,462.71 $0.00 $3,105.91 $553,884.43
204 $553,884.43 $1,462.71 $0.00 $3,131.74 $558,478.88
205 $558,478.88 $1,462.71 $0.00 $3,157.72 $563,099.31
206 $563,099.31 $1,462.71 $0.00 $3,183.85 $567,745.87
207 $567,745.87 $1,462.71 $0.00 $3,210.12 $572,418.70
208 $572,418.70 $1,462.71 $0.00 $3,236.54 $577,117.95
209 $577,117.95 $1,462.71 $0.00 $3,263.11 $581,843.77
210 $581,843.77 $1,462.71 $0.00 $3,289.83 $586,596.31
211 $586,596.31 $1,462.71 $0.00 $3,316.70 $591,375.72
212 $591,375.72 $1,462.71 $0.00 $3,343.72 $596,182.15
213 $596,182.15 $1,462.71 $0.00 $3,370.90 $601,015.76
214 $601,015.76 $1,462.71 $0.00 $3,398.23 $605,876.70
215 $605,876.70 $1,462.71 $0.00 $3,425.71 $610,765.12
216 $610,765.12 $1,462.71 $0.00 $3,453.35 $615,681.18
217 $615,681.18 $1,462.71 $166,738.82 $3,481.15 $453,886.22
218 $453,886.22 $1,462.71 $0.00 $2,566.34 $457,915.27
219 $457,915.27 $1,462.71 $0.00 $2,589.12 $461,967.10
220 $461,967.10 $1,462.71 $0.00 $2,612.03 $466,041.84
221 $466,041.84 $1,462.71 $0.00 $2,635.07 $470,139.62
222 $470,139.62 $1,462.71 $0.00 $2,658.24 $474,260.57
223 $474,260.57 $1,462.71 $0.00 $2,681.54 $478,404.82
224 $478,404.82 $1,462.71 $0.00 $2,704.97 $482,572.50
225 $482,572.50 $1,462.71 $0.00 $2,728.54 $486,763.75
226 $486,763.75 $1,462.71 $0.00 $2,752.23 $490,978.69
227 $490,978.69 $1,462.71 $0.00 $2,776.06 $495,217.46
228 $495,217.46 $1,462.71 $0.00 $2,800.03 $499,480.20
229 $499,480.20 $1,462.71 $178,410.54 $2,824.13 $325,356.50
230 $325,356.50 $1,462.71 $0.00 $1,839.61 $328,658.82
231 $328,658.82 $1,462.71 $0.00 $1,858.28 $331,979.81
232 $331,979.81 $1,462.71 $0.00 $1,877.06 $335,319.58
233 $335,319.58 $1,462.71 $0.00 $1,895.95 $338,678.24
234 $338,678.24 $1,462.71 $0.00 $1,914.94 $342,055.89
235 $342,055.89 $1,462.71 $0.00 $1,934.03 $345,452.63
236 $345,452.63 $1,462.71 $0.00 $1,953.24 $348,868.58
237 $348,868.58 $1,462.71 $0.00 $1,972.55 $352,303.84
238 $352,303.84 $1,462.71 $0.00 $1,991.98 $355,758.53
239 $355,758.53 $1,462.71 $0.00 $2,011.51 $359,232.75
240 $359,232.75 $1,462.71 $0.00 $2,031.15 $362,726.61
241 $362,726.61 $1,462.71 $190,899.27 $2,050.91 $175,340.96
242 $175,340.96 $1,462.71 $0.00 $991.40 $177,795.07
243 $177,795.07 $1,462.71 $0.00 $1,005.28 $180,263.06
244 $180,263.06 $1,462.71 $0.00 $1,019.23 $182,745.00
245 $182,745.00 $1,462.71 $0.00 $1,033.27 $185,240.98
246 $185,240.98 $1,462.71 $0.00 $1,047.38 $187,751.07
247 $187,751.07 $1,462.71 $0.00 $1,061.57 $190,275.35
248 $190,275.35 $1,462.71 $0.00 $1,075.84 $192,813.90
249 $192,813.90 $1,462.71 $0.00 $1,090.20 $195,366.81
250 $195,366.81 $1,462.71 $0.00 $1,104.63 $197,934.15
251 $197,934.15 $1,462.71 $0.00 $1,119.15 $200,516.01
252 $200,516.01 $1,462.71 $0.00 $1,133.75 $203,112.47
253 $203,112.47 $0.00 $204,262.22 $1,148.43 -$1.32