Savings Plan and Future Cost Estimation for Northern Illinois University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$71,059
Monthly savings required$562

How much will it cost to send your child to Northern Illinois University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $284,236.28 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $562.50 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$27,402.00
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 $562.50 $0.00 $0.00 $562.50
2 $562.50 $562.50 $0.00 $3.18 $1,128.18
3 $1,128.18 $562.50 $0.00 $6.38 $1,697.06
4 $1,697.06 $562.50 $0.00 $9.60 $2,269.16
5 $2,269.16 $562.50 $0.00 $12.83 $2,844.49
6 $2,844.49 $562.50 $0.00 $16.08 $3,423.07
7 $3,423.07 $562.50 $0.00 $19.35 $4,004.92
8 $4,004.92 $562.50 $0.00 $22.64 $4,590.06
9 $4,590.06 $562.50 $0.00 $25.95 $5,178.51
10 $5,178.51 $562.50 $0.00 $29.28 $5,770.29
11 $5,770.29 $562.50 $0.00 $32.63 $6,365.42
12 $6,365.42 $562.50 $0.00 $35.99 $6,963.91
13 $6,963.91 $562.50 $0.00 $39.37 $7,565.78
14 $7,565.78 $562.50 $0.00 $42.78 $8,171.06
15 $8,171.06 $562.50 $0.00 $46.20 $8,779.76
16 $8,779.76 $562.50 $0.00 $49.64 $9,391.90
17 $9,391.90 $562.50 $0.00 $53.10 $10,007.50
18 $10,007.50 $562.50 $0.00 $56.58 $10,626.58
19 $10,626.58 $562.50 $0.00 $60.08 $11,249.16
20 $11,249.16 $562.50 $0.00 $63.60 $11,875.26
21 $11,875.26 $562.50 $0.00 $67.14 $12,504.90
22 $12,504.90 $562.50 $0.00 $70.70 $13,138.10
23 $13,138.10 $562.50 $0.00 $74.28 $13,774.88
24 $13,774.88 $562.50 $0.00 $77.89 $14,415.27
25 $14,415.27 $562.50 $0.00 $81.51 $15,059.28
26 $15,059.28 $562.50 $0.00 $85.15 $15,706.93
27 $15,706.93 $562.50 $0.00 $88.81 $16,358.24
28 $16,358.24 $562.50 $0.00 $92.49 $17,013.23
29 $17,013.23 $562.50 $0.00 $96.20 $17,671.93
30 $17,671.93 $562.50 $0.00 $99.92 $18,334.35
31 $18,334.35 $562.50 $0.00 $103.67 $19,000.52
32 $19,000.52 $562.50 $0.00 $107.43 $19,670.45
33 $19,670.45 $562.50 $0.00 $111.22 $20,344.17
34 $20,344.17 $562.50 $0.00 $115.03 $21,021.70
35 $21,021.70 $562.50 $0.00 $118.86 $21,703.06
36 $21,703.06 $562.50 $0.00 $122.71 $22,388.27
37 $22,388.27 $562.50 $0.00 $126.59 $23,077.36
38 $23,077.36 $562.50 $0.00 $130.48 $23,770.34
39 $23,770.34 $562.50 $0.00 $134.40 $24,467.24
40 $24,467.24 $562.50 $0.00 $138.34 $25,168.08
41 $25,168.08 $562.50 $0.00 $142.30 $25,872.88
42 $25,872.88 $562.50 $0.00 $146.29 $26,581.67
43 $26,581.67 $562.50 $0.00 $150.30 $27,294.47
44 $27,294.47 $562.50 $0.00 $154.33 $28,011.30
45 $28,011.30 $562.50 $0.00 $158.38 $28,732.18
46 $28,732.18 $562.50 $0.00 $162.46 $29,457.14
47 $29,457.14 $562.50 $0.00 $166.55 $30,186.19
48 $30,186.19 $562.50 $0.00 $170.68 $30,919.37
49 $30,919.37 $562.50 $0.00 $174.82 $31,656.69
50 $31,656.69 $562.50 $0.00 $178.99 $32,398.18
51 $32,398.18 $562.50 $0.00 $183.18 $33,143.86
52 $33,143.86 $562.50 $0.00 $187.40 $33,893.76
53 $33,893.76 $562.50 $0.00 $191.64 $34,647.90
54 $34,647.90 $562.50 $0.00 $195.90 $35,406.30
55 $35,406.30 $562.50 $0.00 $200.19 $36,168.99
56 $36,168.99 $562.50 $0.00 $204.50 $36,935.99
57 $36,935.99 $562.50 $0.00 $208.84 $37,707.33
58 $37,707.33 $562.50 $0.00 $213.20 $38,483.03
59 $38,483.03 $562.50 $0.00 $217.59 $39,263.12
60 $39,263.12 $562.50 $0.00 $222.00 $40,047.62
61 $40,047.62 $562.50 $0.00 $226.44 $40,836.56
62 $40,836.56 $562.50 $0.00 $230.90 $41,629.96
63 $41,629.96 $562.50 $0.00 $235.38 $42,427.84
64 $42,427.84 $562.50 $0.00 $239.89 $43,230.23
65 $43,230.23 $562.50 $0.00 $244.43 $44,037.16
66 $44,037.16 $562.50 $0.00 $248.99 $44,848.65
67 $44,848.65 $562.50 $0.00 $253.58 $45,664.73
68 $45,664.73 $562.50 $0.00 $258.20 $46,485.43
69 $46,485.43 $562.50 $0.00 $262.84 $47,310.77
70 $47,310.77 $562.50 $0.00 $267.50 $48,140.77
71 $48,140.77 $562.50 $0.00 $272.19 $48,975.46
72 $48,975.46 $562.50 $0.00 $276.91 $49,814.87
73 $49,814.87 $562.50 $0.00 $281.66 $50,659.03
74 $50,659.03 $562.50 $0.00 $286.43 $51,507.96
75 $51,507.96 $562.50 $0.00 $291.23 $52,361.69
76 $52,361.69 $562.50 $0.00 $296.06 $53,220.25
77 $53,220.25 $562.50 $0.00 $300.92 $54,083.67
78 $54,083.67 $562.50 $0.00 $305.80 $54,951.97
79 $54,951.97 $562.50 $0.00 $310.71 $55,825.18
80 $55,825.18 $562.50 $0.00 $315.64 $56,703.32
81 $56,703.32 $562.50 $0.00 $320.61 $57,586.43
82 $57,586.43 $562.50 $0.00 $325.60 $58,474.53
83 $58,474.53 $562.50 $0.00 $330.62 $59,367.65
84 $59,367.65 $562.50 $0.00 $335.67 $60,265.82
85 $60,265.82 $562.50 $0.00 $340.75 $61,169.07
86 $61,169.07 $562.50 $0.00 $345.86 $62,077.43
87 $62,077.43 $562.50 $0.00 $350.99 $62,990.92
88 $62,990.92 $562.50 $0.00 $356.16 $63,909.58
89 $63,909.58 $562.50 $0.00 $361.35 $64,833.43
90 $64,833.43 $562.50 $0.00 $366.58 $65,762.51
91 $65,762.51 $562.50 $0.00 $371.83 $66,696.84
92 $66,696.84 $562.50 $0.00 $377.11 $67,636.45
93 $67,636.45 $562.50 $0.00 $382.43 $68,581.38
94 $68,581.38 $562.50 $0.00 $387.77 $69,531.65
95 $69,531.65 $562.50 $0.00 $393.14 $70,487.29
96 $70,487.29 $562.50 $0.00 $398.55 $71,448.34
97 $71,448.34 $562.50 $0.00 $403.98 $72,414.82
98 $72,414.82 $562.50 $0.00 $409.44 $73,386.76
99 $73,386.76 $562.50 $0.00 $414.94 $74,364.20
100 $74,364.20 $562.50 $0.00 $420.47 $75,347.17
101 $75,347.17 $562.50 $0.00 $426.02 $76,335.69
102 $76,335.69 $562.50 $0.00 $431.61 $77,329.80
103 $77,329.80 $562.50 $0.00 $437.23 $78,329.53
104 $78,329.53 $562.50 $0.00 $442.89 $79,334.92
105 $79,334.92 $562.50 $0.00 $448.57 $80,345.99
106 $80,345.99 $562.50 $0.00 $454.29 $81,362.78
107 $81,362.78 $562.50 $0.00 $460.04 $82,385.32
108 $82,385.32 $562.50 $0.00 $465.82 $83,413.64
109 $83,413.64 $562.50 $0.00 $471.63 $84,447.77
110 $84,447.77 $562.50 $0.00 $477.48 $85,487.75
111 $85,487.75 $562.50 $0.00 $483.36 $86,533.61
112 $86,533.61 $562.50 $0.00 $489.27 $87,585.38
113 $87,585.38 $562.50 $0.00 $495.22 $88,643.10
114 $88,643.10 $562.50 $0.00 $501.20 $89,706.80
115 $89,706.80 $562.50 $0.00 $507.22 $90,776.52
116 $90,776.52 $562.50 $0.00 $513.26 $91,852.28
117 $91,852.28 $562.50 $0.00 $519.35 $92,934.13
118 $92,934.13 $562.50 $0.00 $525.46 $94,022.09
119 $94,022.09 $562.50 $0.00 $531.61 $95,116.20
120 $95,116.20 $562.50 $0.00 $537.80 $96,216.50
121 $96,216.50 $562.50 $0.00 $544.02 $97,323.02
122 $97,323.02 $562.50 $0.00 $550.28 $98,435.80
123 $98,435.80 $562.50 $0.00 $556.57 $99,554.87
124 $99,554.87 $562.50 $0.00 $562.90 $100,680.27
125 $100,680.27 $562.50 $0.00 $569.26 $101,812.03
126 $101,812.03 $562.50 $0.00 $575.66 $102,950.19
127 $102,950.19 $562.50 $0.00 $582.10 $104,094.79
128 $104,094.79 $562.50 $0.00 $588.57 $105,245.86
129 $105,245.86 $562.50 $0.00 $595.08 $106,403.44
130 $106,403.44 $562.50 $0.00 $601.62 $107,567.56
131 $107,567.56 $562.50 $0.00 $608.20 $108,738.26
132 $108,738.26 $562.50 $0.00 $614.82 $109,915.58
133 $109,915.58 $562.50 $0.00 $621.48 $111,099.56
134 $111,099.56 $562.50 $0.00 $628.17 $112,290.23
135 $112,290.23 $562.50 $0.00 $634.91 $113,487.64
136 $113,487.64 $562.50 $0.00 $641.68 $114,691.82
137 $114,691.82 $562.50 $0.00 $648.48 $115,902.80
138 $115,902.80 $562.50 $0.00 $655.33 $117,120.63
139 $117,120.63 $562.50 $0.00 $662.22 $118,345.35
140 $118,345.35 $562.50 $0.00 $669.14 $119,576.99
141 $119,576.99 $562.50 $0.00 $676.11 $120,815.60
142 $120,815.60 $562.50 $0.00 $683.11 $122,061.21
143 $122,061.21 $562.50 $0.00 $690.15 $123,313.86
144 $123,313.86 $562.50 $0.00 $697.23 $124,573.59
145 $124,573.59 $562.50 $0.00 $704.36 $125,840.45
146 $125,840.45 $562.50 $0.00 $711.52 $127,114.47
147 $127,114.47 $562.50 $0.00 $718.72 $128,395.69
148 $128,395.69 $562.50 $0.00 $725.97 $129,684.16
149 $129,684.16 $562.50 $0.00 $733.25 $130,979.91
150 $130,979.91 $562.50 $0.00 $740.58 $132,282.99
151 $132,282.99 $562.50 $0.00 $747.95 $133,593.44
152 $133,593.44 $562.50 $0.00 $755.36 $134,911.30
153 $134,911.30 $562.50 $0.00 $762.81 $136,236.61
154 $136,236.61 $562.50 $0.00 $770.30 $137,569.41
155 $137,569.41 $562.50 $0.00 $777.84 $138,909.75
156 $138,909.75 $562.50 $0.00 $785.42 $140,257.67
157 $140,257.67 $562.50 $0.00 $793.04 $141,613.21
158 $141,613.21 $562.50 $0.00 $800.70 $142,976.41
159 $142,976.41 $562.50 $0.00 $808.41 $144,347.32
160 $144,347.32 $562.50 $0.00 $816.16 $145,725.98
161 $145,725.98 $562.50 $0.00 $823.96 $147,112.44
162 $147,112.44 $562.50 $0.00 $831.80 $148,506.74
163 $148,506.74 $562.50 $0.00 $839.68 $149,908.92
164 $149,908.92 $562.50 $0.00 $847.61 $151,319.03
165 $151,319.03 $562.50 $0.00 $855.58 $152,737.11
166 $152,737.11 $562.50 $0.00 $863.60 $154,163.21
167 $154,163.21 $562.50 $0.00 $871.66 $155,597.37
168 $155,597.37 $562.50 $0.00 $879.77 $157,039.64
169 $157,039.64 $562.50 $0.00 $887.92 $158,490.06
170 $158,490.06 $562.50 $0.00 $896.13 $159,948.69
171 $159,948.69 $562.50 $0.00 $904.37 $161,415.56
172 $161,415.56 $562.50 $0.00 $912.67 $162,890.73
173 $162,890.73 $562.50 $0.00 $921.01 $164,374.24
174 $164,374.24 $562.50 $0.00 $929.40 $165,866.14
175 $165,866.14 $562.50 $0.00 $937.83 $167,366.47
176 $167,366.47 $562.50 $0.00 $946.31 $168,875.28
177 $168,875.28 $562.50 $0.00 $954.85 $170,392.63
178 $170,392.63 $562.50 $0.00 $963.42 $171,918.55
179 $171,918.55 $562.50 $0.00 $972.05 $173,453.10
180 $173,453.10 $562.50 $0.00 $980.73 $174,996.33
181 $174,996.33 $562.50 $0.00 $989.45 $176,548.28
182 $176,548.28 $562.50 $0.00 $998.23 $178,109.01
183 $178,109.01 $562.50 $0.00 $1,007.05 $179,678.56
184 $179,678.56 $562.50 $0.00 $1,015.93 $181,256.99
185 $181,256.99 $562.50 $0.00 $1,024.85 $182,844.34
186 $182,844.34 $562.50 $0.00 $1,033.83 $184,440.67
187 $184,440.67 $562.50 $0.00 $1,042.85 $186,046.02
188 $186,046.02 $562.50 $0.00 $1,051.93 $187,660.45
189 $187,660.45 $562.50 $0.00 $1,061.06 $189,284.01
190 $189,284.01 $562.50 $0.00 $1,070.24 $190,916.75
191 $190,916.75 $562.50 $0.00 $1,079.47 $192,558.72
192 $192,558.72 $562.50 $0.00 $1,088.75 $194,209.97
193 $194,209.97 $562.50 $0.00 $1,098.09 $195,870.56
194 $195,870.56 $562.50 $0.00 $1,107.48 $197,540.54
195 $197,540.54 $562.50 $0.00 $1,116.92 $199,219.96
196 $199,219.96 $562.50 $0.00 $1,126.42 $200,908.88
197 $200,908.88 $562.50 $0.00 $1,135.97 $202,607.35
198 $202,607.35 $562.50 $0.00 $1,145.57 $204,315.42
199 $204,315.42 $562.50 $0.00 $1,155.23 $206,033.15
200 $206,033.15 $562.50 $0.00 $1,164.94 $207,760.59
201 $207,760.59 $562.50 $0.00 $1,174.71 $209,497.80
202 $209,497.80 $562.50 $0.00 $1,184.53 $211,244.83
203 $211,244.83 $562.50 $0.00 $1,194.41 $213,001.74
204 $213,001.74 $562.50 $0.00 $1,204.34 $214,768.58
205 $214,768.58 $562.50 $0.00 $1,214.33 $216,545.41
206 $216,545.41 $562.50 $0.00 $1,224.38 $218,332.29
207 $218,332.29 $562.50 $0.00 $1,234.48 $220,129.27
208 $220,129.27 $562.50 $0.00 $1,244.64 $221,936.41
209 $221,936.41 $562.50 $0.00 $1,254.86 $223,753.77
210 $223,753.77 $562.50 $0.00 $1,265.14 $225,581.41
211 $225,581.41 $562.50 $0.00 $1,275.47 $227,419.38
212 $227,419.38 $562.50 $0.00 $1,285.86 $229,267.74
213 $229,267.74 $562.50 $0.00 $1,296.31 $231,126.55
214 $231,126.55 $562.50 $0.00 $1,306.82 $232,995.87
215 $232,995.87 $562.50 $0.00 $1,317.39 $234,875.76
216 $234,875.76 $562.50 $0.00 $1,328.02 $236,766.28
217 $236,766.28 $562.50 $65,946.18 $1,338.71 $172,721.31
218 $172,721.31 $562.50 $0.00 $976.59 $174,260.40
219 $174,260.40 $562.50 $0.00 $985.29 $175,808.19
220 $175,808.19 $562.50 $0.00 $994.05 $177,364.74
221 $177,364.74 $562.50 $0.00 $1,002.85 $178,930.09
222 $178,930.09 $562.50 $0.00 $1,011.70 $180,504.29
223 $180,504.29 $562.50 $0.00 $1,020.60 $182,087.39
224 $182,087.39 $562.50 $0.00 $1,029.55 $183,679.44
225 $183,679.44 $562.50 $0.00 $1,038.55 $185,280.49
226 $185,280.49 $562.50 $0.00 $1,047.60 $186,890.59
227 $186,890.59 $562.50 $0.00 $1,056.71 $188,509.80
228 $188,509.80 $562.50 $0.00 $1,065.86 $190,138.16
229 $190,138.16 $562.50 $69,243.49 $1,075.07 $122,532.24
230 $122,532.24 $562.50 $0.00 $692.82 $123,787.56
231 $123,787.56 $562.50 $0.00 $699.91 $125,049.97
232 $125,049.97 $562.50 $0.00 $707.05 $126,319.52
233 $126,319.52 $562.50 $0.00 $714.23 $127,596.25
234 $127,596.25 $562.50 $0.00 $721.45 $128,880.20
235 $128,880.20 $562.50 $0.00 $728.71 $130,171.41
236 $130,171.41 $562.50 $0.00 $736.01 $131,469.92
237 $131,469.92 $562.50 $0.00 $743.35 $132,775.77
238 $132,775.77 $562.50 $0.00 $750.73 $134,089.00
239 $134,089.00 $562.50 $0.00 $758.16 $135,409.66
240 $135,409.66 $562.50 $0.00 $765.63 $136,737.79
241 $136,737.79 $562.50 $72,705.66 $773.14 $65,367.77
242 $65,367.77 $562.50 $0.00 $369.60 $66,299.87
243 $66,299.87 $562.50 $0.00 $374.87 $67,237.24
244 $67,237.24 $562.50 $0.00 $380.17 $68,179.91
245 $68,179.91 $562.50 $0.00 $385.50 $69,127.91
246 $69,127.91 $562.50 $0.00 $390.86 $70,081.27
247 $70,081.27 $562.50 $0.00 $396.25 $71,040.02
248 $71,040.02 $562.50 $0.00 $401.67 $72,004.19
249 $72,004.19 $562.50 $0.00 $407.12 $72,973.81
250 $72,973.81 $562.50 $0.00 $412.60 $73,948.91
251 $73,948.91 $562.50 $0.00 $418.12 $74,929.53
252 $74,929.53 $562.50 $0.00 $423.66 $75,915.69
253 $75,915.69 $0.00 $76,340.95 $429.24 $3.98