Savings Plan and Future Cost Estimation for Dominican University

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2039	$123,284
Monthly savings required	$976

How much will it cost to send your child to Dominican University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $493,134.70 for students enrolling in 2039 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $975.89 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	$47,541.00
Years until enrollment	18
Annual Tuition Increase	5%
Current Savings	$0.00
After Tax Return on Savings	7%
Years of enrollment	4

Current Savings Shortfall

Planned Savings Balance

College Savings Schedule

Month	Begin	Deposit	Withdraw	Interest	End
1	$0.00	$975.89	$0.00	$0.00	$975.89
2	$975.89	$975.89	$0.00	$5.52	$1,957.30
3	$1,957.30	$975.89	$0.00	$11.07	$2,944.26
4	$2,944.26	$975.89	$0.00	$16.65	$3,936.80
5	$3,936.80	$975.89	$0.00	$22.26	$4,934.95
6	$4,934.95	$975.89	$0.00	$27.90	$5,938.74
7	$5,938.74	$975.89	$0.00	$33.58	$6,948.21
8	$6,948.21	$975.89	$0.00	$39.29	$7,963.39
9	$7,963.39	$975.89	$0.00	$45.03	$8,984.31
10	$8,984.31	$975.89	$0.00	$50.80	$10,011.00
11	$10,011.00	$975.89	$0.00	$56.60	$11,043.49
12	$11,043.49	$975.89	$0.00	$62.44	$12,081.82
13	$12,081.82	$975.89	$0.00	$68.31	$13,126.02
14	$13,126.02	$975.89	$0.00	$74.22	$14,176.13
15	$14,176.13	$975.89	$0.00	$80.15	$15,232.17
16	$15,232.17	$975.89	$0.00	$86.12	$16,294.18
17	$16,294.18	$975.89	$0.00	$92.13	$17,362.20
18	$17,362.20	$975.89	$0.00	$98.17	$18,436.26
19	$18,436.26	$975.89	$0.00	$104.24	$19,516.39
20	$19,516.39	$975.89	$0.00	$110.35	$20,602.63
21	$20,602.63	$975.89	$0.00	$116.49	$21,695.01
22	$21,695.01	$975.89	$0.00	$122.67	$22,793.57
23	$22,793.57	$975.89	$0.00	$128.88	$23,898.34
24	$23,898.34	$975.89	$0.00	$135.12	$25,009.35
25	$25,009.35	$975.89	$0.00	$141.41	$26,126.65
26	$26,126.65	$975.89	$0.00	$147.72	$27,250.26
27	$27,250.26	$975.89	$0.00	$154.08	$28,380.23
28	$28,380.23	$975.89	$0.00	$160.47	$29,516.59
29	$29,516.59	$975.89	$0.00	$166.89	$30,659.37
30	$30,659.37	$975.89	$0.00	$173.35	$31,808.61
31	$31,808.61	$975.89	$0.00	$179.85	$32,964.35
32	$32,964.35	$975.89	$0.00	$186.39	$34,126.63
33	$34,126.63	$975.89	$0.00	$192.96	$35,295.48
34	$35,295.48	$975.89	$0.00	$199.57	$36,470.94
35	$36,470.94	$975.89	$0.00	$206.21	$37,653.04
36	$37,653.04	$975.89	$0.00	$212.90	$38,841.83
37	$38,841.83	$975.89	$0.00	$219.62	$40,037.34
38	$40,037.34	$975.89	$0.00	$226.38	$41,239.61
39	$41,239.61	$975.89	$0.00	$233.17	$42,448.67
40	$42,448.67	$975.89	$0.00	$240.01	$43,664.57
41	$43,664.57	$975.89	$0.00	$246.89	$44,887.35
42	$44,887.35	$975.89	$0.00	$253.80	$46,117.04
43	$46,117.04	$975.89	$0.00	$260.75	$47,353.68
44	$47,353.68	$975.89	$0.00	$267.74	$48,597.31
45	$48,597.31	$975.89	$0.00	$274.78	$49,847.98
46	$49,847.98	$975.89	$0.00	$281.85	$51,105.72
47	$51,105.72	$975.89	$0.00	$288.96	$52,370.57
48	$52,370.57	$975.89	$0.00	$296.11	$53,642.57
49	$53,642.57	$975.89	$0.00	$303.30	$54,921.76
50	$54,921.76	$975.89	$0.00	$310.54	$56,208.19
51	$56,208.19	$975.89	$0.00	$317.81	$57,501.89
52	$57,501.89	$975.89	$0.00	$325.12	$58,802.90
53	$58,802.90	$975.89	$0.00	$332.48	$60,111.27
54	$60,111.27	$975.89	$0.00	$339.88	$61,427.04
55	$61,427.04	$975.89	$0.00	$347.32	$62,750.25
56	$62,750.25	$975.89	$0.00	$354.80	$64,080.94
57	$64,080.94	$975.89	$0.00	$362.32	$65,419.15
58	$65,419.15	$975.89	$0.00	$369.89	$66,764.93
59	$66,764.93	$975.89	$0.00	$377.50	$68,118.32
60	$68,118.32	$975.89	$0.00	$385.15	$69,479.36
61	$69,479.36	$975.89	$0.00	$392.85	$70,848.10
62	$70,848.10	$975.89	$0.00	$400.59	$72,224.58
63	$72,224.58	$975.89	$0.00	$408.37	$73,608.84
64	$73,608.84	$975.89	$0.00	$416.20	$75,000.93
65	$75,000.93	$975.89	$0.00	$424.07	$76,400.89
66	$76,400.89	$975.89	$0.00	$431.98	$77,808.76
67	$77,808.76	$975.89	$0.00	$439.94	$79,224.59
68	$79,224.59	$975.89	$0.00	$447.95	$80,648.43
69	$80,648.43	$975.89	$0.00	$456.00	$82,080.32
70	$82,080.32	$975.89	$0.00	$464.09	$83,520.30
71	$83,520.30	$975.89	$0.00	$472.24	$84,968.43
72	$84,968.43	$975.89	$0.00	$480.42	$86,424.74
73	$86,424.74	$975.89	$0.00	$488.66	$87,889.29
74	$87,889.29	$975.89	$0.00	$496.94	$89,362.12
75	$89,362.12	$975.89	$0.00	$505.27	$90,843.28
76	$90,843.28	$975.89	$0.00	$513.64	$92,332.81
77	$92,332.81	$975.89	$0.00	$522.06	$93,830.76
78	$93,830.76	$975.89	$0.00	$530.53	$95,337.18
79	$95,337.18	$975.89	$0.00	$539.05	$96,852.12
80	$96,852.12	$975.89	$0.00	$547.62	$98,375.63
81	$98,375.63	$975.89	$0.00	$556.23	$99,907.75
82	$99,907.75	$975.89	$0.00	$564.89	$101,448.53
83	$101,448.53	$975.89	$0.00	$573.60	$102,998.02
84	$102,998.02	$975.89	$0.00	$582.37	$104,556.28
85	$104,556.28	$975.89	$0.00	$591.18	$106,123.35
86	$106,123.35	$975.89	$0.00	$600.04	$107,699.28
87	$107,699.28	$975.89	$0.00	$608.95	$109,284.12
88	$109,284.12	$975.89	$0.00	$617.91	$110,877.92
89	$110,877.92	$975.89	$0.00	$626.92	$112,480.73
90	$112,480.73	$975.89	$0.00	$635.98	$114,092.60
91	$114,092.60	$975.89	$0.00	$645.10	$115,713.59
92	$115,713.59	$975.89	$0.00	$654.26	$117,343.74
93	$117,343.74	$975.89	$0.00	$663.48	$118,983.11
94	$118,983.11	$975.89	$0.00	$672.75	$120,631.75
95	$120,631.75	$975.89	$0.00	$682.07	$122,289.71
96	$122,289.71	$975.89	$0.00	$691.44	$123,957.04
97	$123,957.04	$975.89	$0.00	$700.87	$125,633.80
98	$125,633.80	$975.89	$0.00	$710.35	$127,320.04
99	$127,320.04	$975.89	$0.00	$719.89	$129,015.82
100	$129,015.82	$975.89	$0.00	$729.47	$130,721.18
101	$130,721.18	$975.89	$0.00	$739.12	$132,436.19
102	$132,436.19	$975.89	$0.00	$748.81	$134,160.89
103	$134,160.89	$975.89	$0.00	$758.57	$135,895.35
104	$135,895.35	$975.89	$0.00	$768.37	$137,639.61
105	$137,639.61	$975.89	$0.00	$778.23	$139,393.73
106	$139,393.73	$975.89	$0.00	$788.15	$141,157.77
107	$141,157.77	$975.89	$0.00	$798.13	$142,931.79
108	$142,931.79	$975.89	$0.00	$808.16	$144,715.84
109	$144,715.84	$975.89	$0.00	$818.24	$146,509.97
110	$146,509.97	$975.89	$0.00	$828.39	$148,314.25
111	$148,314.25	$975.89	$0.00	$838.59	$150,128.73
112	$150,128.73	$975.89	$0.00	$848.85	$151,953.47
113	$151,953.47	$975.89	$0.00	$859.17	$153,788.53
114	$153,788.53	$975.89	$0.00	$869.54	$155,633.96
115	$155,633.96	$975.89	$0.00	$879.98	$157,489.83
116	$157,489.83	$975.89	$0.00	$890.47	$159,356.19
117	$159,356.19	$975.89	$0.00	$901.02	$161,233.10
118	$161,233.10	$975.89	$0.00	$911.64	$163,120.63
119	$163,120.63	$975.89	$0.00	$922.31	$165,018.83
120	$165,018.83	$975.89	$0.00	$933.04	$166,927.76
121	$166,927.76	$975.89	$0.00	$943.83	$168,847.48
122	$168,847.48	$975.89	$0.00	$954.69	$170,778.06
123	$170,778.06	$975.89	$0.00	$965.60	$172,719.55
124	$172,719.55	$975.89	$0.00	$976.58	$174,672.02
125	$174,672.02	$975.89	$0.00	$987.62	$176,635.53
126	$176,635.53	$975.89	$0.00	$998.72	$178,610.14
127	$178,610.14	$975.89	$0.00	$1,009.89	$180,595.92
128	$180,595.92	$975.89	$0.00	$1,021.12	$182,592.93
129	$182,592.93	$975.89	$0.00	$1,032.41	$184,601.23
130	$184,601.23	$975.89	$0.00	$1,043.76	$186,620.88
131	$186,620.88	$975.89	$0.00	$1,055.18	$188,651.95
132	$188,651.95	$975.89	$0.00	$1,066.67	$190,694.51
133	$190,694.51	$975.89	$0.00	$1,078.21	$192,748.61
134	$192,748.61	$975.89	$0.00	$1,089.83	$194,814.33
135	$194,814.33	$975.89	$0.00	$1,101.51	$196,891.73
136	$196,891.73	$975.89	$0.00	$1,113.25	$198,980.87
137	$198,980.87	$975.89	$0.00	$1,125.07	$201,081.83
138	$201,081.83	$975.89	$0.00	$1,136.95	$203,194.67
139	$203,194.67	$975.89	$0.00	$1,148.89	$205,319.45
140	$205,319.45	$975.89	$0.00	$1,160.91	$207,456.25
141	$207,456.25	$975.89	$0.00	$1,172.99	$209,605.13
142	$209,605.13	$975.89	$0.00	$1,185.14	$211,766.16
143	$211,766.16	$975.89	$0.00	$1,197.36	$213,939.41
144	$213,939.41	$975.89	$0.00	$1,209.64	$216,124.94
145	$216,124.94	$975.89	$0.00	$1,222.00	$218,322.83
146	$218,322.83	$975.89	$0.00	$1,234.43	$220,533.15
147	$220,533.15	$975.89	$0.00	$1,246.93	$222,755.97
148	$222,755.97	$975.89	$0.00	$1,259.49	$224,991.35
149	$224,991.35	$975.89	$0.00	$1,272.13	$227,239.37
150	$227,239.37	$975.89	$0.00	$1,284.84	$229,500.10
151	$229,500.10	$975.89	$0.00	$1,297.63	$231,773.62
152	$231,773.62	$975.89	$0.00	$1,310.48	$234,059.99
153	$234,059.99	$975.89	$0.00	$1,323.41	$236,359.29
154	$236,359.29	$975.89	$0.00	$1,336.41	$238,671.59
155	$238,671.59	$975.89	$0.00	$1,349.48	$240,996.96
156	$240,996.96	$975.89	$0.00	$1,362.63	$243,335.48
157	$243,335.48	$975.89	$0.00	$1,375.85	$245,687.22
158	$245,687.22	$975.89	$0.00	$1,389.15	$248,052.26
159	$248,052.26	$975.89	$0.00	$1,402.52	$250,430.67
160	$250,430.67	$975.89	$0.00	$1,415.97	$252,822.53
161	$252,822.53	$975.89	$0.00	$1,429.50	$255,227.92
162	$255,227.92	$975.89	$0.00	$1,443.10	$257,646.91
163	$257,646.91	$975.89	$0.00	$1,456.77	$260,079.57
164	$260,079.57	$975.89	$0.00	$1,470.53	$262,525.99
165	$262,525.99	$975.89	$0.00	$1,484.36	$264,986.24
166	$264,986.24	$975.89	$0.00	$1,498.27	$267,460.40
167	$267,460.40	$975.89	$0.00	$1,512.26	$269,948.55
168	$269,948.55	$975.89	$0.00	$1,526.33	$272,450.77
169	$272,450.77	$975.89	$0.00	$1,540.48	$274,967.14
170	$274,967.14	$975.89	$0.00	$1,554.70	$277,497.73
171	$277,497.73	$975.89	$0.00	$1,569.01	$280,042.63
172	$280,042.63	$975.89	$0.00	$1,583.40	$282,601.92
173	$282,601.92	$975.89	$0.00	$1,597.87	$285,175.68
174	$285,175.68	$975.89	$0.00	$1,612.42	$287,763.99
175	$287,763.99	$975.89	$0.00	$1,627.06	$290,366.94
176	$290,366.94	$975.89	$0.00	$1,641.78	$292,984.61
177	$292,984.61	$975.89	$0.00	$1,656.58	$295,617.08
178	$295,617.08	$975.89	$0.00	$1,671.46	$298,264.43
179	$298,264.43	$975.89	$0.00	$1,686.43	$300,926.75
180	$300,926.75	$975.89	$0.00	$1,701.48	$303,604.12
181	$303,604.12	$975.89	$0.00	$1,716.62	$306,296.63
182	$306,296.63	$975.89	$0.00	$1,731.85	$309,004.37
183	$309,004.37	$975.89	$0.00	$1,747.16	$311,727.42
184	$311,727.42	$975.89	$0.00	$1,762.55	$314,465.86
185	$314,465.86	$975.89	$0.00	$1,778.04	$317,219.79
186	$317,219.79	$975.89	$0.00	$1,793.61	$319,989.29
187	$319,989.29	$975.89	$0.00	$1,809.27	$322,774.45
188	$322,774.45	$975.89	$0.00	$1,825.01	$325,575.35
189	$325,575.35	$975.89	$0.00	$1,840.85	$328,392.09
190	$328,392.09	$975.89	$0.00	$1,856.78	$331,224.76
191	$331,224.76	$975.89	$0.00	$1,872.79	$334,073.44
192	$334,073.44	$975.89	$0.00	$1,888.90	$336,938.23
193	$336,938.23	$975.89	$0.00	$1,905.10	$339,819.22
194	$339,819.22	$975.89	$0.00	$1,921.39	$342,716.50
195	$342,716.50	$975.89	$0.00	$1,937.77	$345,630.16
196	$345,630.16	$975.89	$0.00	$1,954.24	$348,560.29
197	$348,560.29	$975.89	$0.00	$1,970.81	$351,506.99
198	$351,506.99	$975.89	$0.00	$1,987.47	$354,470.35
199	$354,470.35	$975.89	$0.00	$2,004.23	$357,450.47
200	$357,450.47	$975.89	$0.00	$2,021.08	$360,447.44
201	$360,447.44	$975.89	$0.00	$2,038.02	$363,461.35
202	$363,461.35	$975.89	$0.00	$2,055.06	$366,492.30
203	$366,492.30	$975.89	$0.00	$2,072.20	$369,540.39
204	$369,540.39	$975.89	$0.00	$2,089.44	$372,605.72
205	$372,605.72	$975.89	$0.00	$2,106.77	$375,688.38
206	$375,688.38	$975.89	$0.00	$2,124.20	$378,788.47
207	$378,788.47	$975.89	$0.00	$2,141.73	$381,906.09
208	$381,906.09	$975.89	$0.00	$2,159.35	$385,041.33
209	$385,041.33	$975.89	$0.00	$2,177.08	$388,194.30
210	$388,194.30	$975.89	$0.00	$2,194.91	$391,365.10
211	$391,365.10	$975.89	$0.00	$2,212.84	$394,553.83
212	$394,553.83	$975.89	$0.00	$2,230.86	$397,760.58
213	$397,760.58	$975.89	$0.00	$2,249.00	$400,985.47
214	$400,985.47	$975.89	$0.00	$2,267.23	$404,228.59
215	$404,228.59	$975.89	$0.00	$2,285.57	$407,490.05
216	$407,490.05	$975.89	$0.00	$2,304.01	$410,769.95
217	$410,769.95	$975.89	$114,413.08	$2,322.55	$299,655.31
218	$299,655.31	$975.89	$0.00	$1,694.29	$302,325.49
219	$302,325.49	$975.89	$0.00	$1,709.39	$305,010.77
220	$305,010.77	$975.89	$0.00	$1,724.58	$307,711.24
221	$307,711.24	$975.89	$0.00	$1,739.84	$310,426.97
222	$310,426.97	$975.89	$0.00	$1,755.20	$313,158.06
223	$313,158.06	$975.89	$0.00	$1,770.64	$315,904.59
224	$315,904.59	$975.89	$0.00	$1,786.17	$318,666.65
225	$318,666.65	$975.89	$0.00	$1,801.79	$321,444.33
226	$321,444.33	$975.89	$0.00	$1,817.49	$324,237.71
227	$324,237.71	$975.89	$0.00	$1,833.29	$327,046.89
228	$327,046.89	$975.89	$0.00	$1,849.17	$329,871.95
229	$329,871.95	$975.89	$120,133.74	$1,865.14	$212,579.24
230	$212,579.24	$975.89	$0.00	$1,201.95	$214,757.08
231	$214,757.08	$975.89	$0.00	$1,214.27	$216,947.24
232	$216,947.24	$975.89	$0.00	$1,226.65	$219,149.78
233	$219,149.78	$975.89	$0.00	$1,239.10	$221,364.77
234	$221,364.77	$975.89	$0.00	$1,251.63	$223,592.29
235	$223,592.29	$975.89	$0.00	$1,264.22	$225,832.40
236	$225,832.40	$975.89	$0.00	$1,276.89	$228,085.18
237	$228,085.18	$975.89	$0.00	$1,289.63	$230,350.70
238	$230,350.70	$975.89	$0.00	$1,302.44	$232,629.03
239	$232,629.03	$975.89	$0.00	$1,315.32	$234,920.24
240	$234,920.24	$975.89	$0.00	$1,328.27	$237,224.40
241	$237,224.40	$975.89	$126,140.43	$1,341.30	$113,401.16
242	$113,401.16	$975.89	$0.00	$641.19	$115,018.24
243	$115,018.24	$975.89	$0.00	$650.33	$116,644.46
244	$116,644.46	$975.89	$0.00	$659.52	$118,279.87
245	$118,279.87	$975.89	$0.00	$668.77	$119,924.53
246	$119,924.53	$975.89	$0.00	$678.07	$121,578.49
247	$121,578.49	$975.89	$0.00	$687.42	$123,241.80
248	$123,241.80	$975.89	$0.00	$696.83	$124,914.52
249	$124,914.52	$975.89	$0.00	$706.28	$126,596.69
250	$126,596.69	$975.89	$0.00	$715.80	$128,288.38
251	$128,288.38	$975.89	$0.00	$725.36	$129,989.63
252	$129,989.63	$975.89	$0.00	$734.98	$131,700.50
253	$131,700.50	$0.00	$132,447.45	$744.65	($2.30)