Savings Plan and Future Cost Estimation for Northwestern University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$335,377
Monthly savings required$2,651

How much will it cost to send your child to Northwestern University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $1,341,509.53 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $2,650.56 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$89,394.00
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 $2,650.56 $0.00 $0.00 $2,650.56
2 $2,650.56 $2,650.56 $0.00 $14.99 $5,316.11
3 $5,316.11 $2,650.56 $0.00 $30.06 $7,996.73
4 $7,996.73 $2,650.56 $0.00 $45.21 $10,692.50
5 $10,692.50 $2,650.56 $0.00 $60.46 $13,403.52
6 $13,403.52 $2,650.56 $0.00 $75.79 $16,129.87
7 $16,129.87 $2,650.56 $0.00 $91.20 $18,871.63
8 $18,871.63 $2,650.56 $0.00 $106.70 $21,628.89
9 $21,628.89 $2,650.56 $0.00 $122.29 $24,401.74
10 $24,401.74 $2,650.56 $0.00 $137.97 $27,190.27
11 $27,190.27 $2,650.56 $0.00 $153.74 $29,994.57
12 $29,994.57 $2,650.56 $0.00 $169.59 $32,814.72
13 $32,814.72 $2,650.56 $0.00 $185.54 $35,650.82
14 $35,650.82 $2,650.56 $0.00 $201.57 $38,502.95
15 $38,502.95 $2,650.56 $0.00 $217.70 $41,371.21
16 $41,371.21 $2,650.56 $0.00 $233.92 $44,255.69
17 $44,255.69 $2,650.56 $0.00 $250.23 $47,156.48
18 $47,156.48 $2,650.56 $0.00 $266.63 $50,073.67
19 $50,073.67 $2,650.56 $0.00 $283.12 $53,007.35
20 $53,007.35 $2,650.56 $0.00 $299.71 $55,957.62
21 $55,957.62 $2,650.56 $0.00 $316.39 $58,924.57
22 $58,924.57 $2,650.56 $0.00 $333.17 $61,908.30
23 $61,908.30 $2,650.56 $0.00 $350.04 $64,908.90
24 $64,908.90 $2,650.56 $0.00 $367.00 $67,926.46
25 $67,926.46 $2,650.56 $0.00 $384.07 $70,961.09
26 $70,961.09 $2,650.56 $0.00 $401.22 $74,012.87
27 $74,012.87 $2,650.56 $0.00 $418.48 $77,081.91
28 $77,081.91 $2,650.56 $0.00 $435.83 $80,168.30
29 $80,168.30 $2,650.56 $0.00 $453.28 $83,272.14
30 $83,272.14 $2,650.56 $0.00 $470.83 $86,393.53
31 $86,393.53 $2,650.56 $0.00 $488.48 $89,532.57
32 $89,532.57 $2,650.56 $0.00 $506.23 $92,689.36
33 $92,689.36 $2,650.56 $0.00 $524.08 $95,864.00
34 $95,864.00 $2,650.56 $0.00 $542.03 $99,056.59
35 $99,056.59 $2,650.56 $0.00 $560.08 $102,267.23
36 $102,267.23 $2,650.56 $0.00 $578.23 $105,496.02
37 $105,496.02 $2,650.56 $0.00 $596.49 $108,743.07
38 $108,743.07 $2,650.56 $0.00 $614.85 $112,008.48
39 $112,008.48 $2,650.56 $0.00 $633.31 $115,292.35
40 $115,292.35 $2,650.56 $0.00 $651.88 $118,594.79
41 $118,594.79 $2,650.56 $0.00 $670.55 $121,915.90
42 $121,915.90 $2,650.56 $0.00 $689.33 $125,255.79
43 $125,255.79 $2,650.56 $0.00 $708.21 $128,614.56
44 $128,614.56 $2,650.56 $0.00 $727.21 $131,992.33
45 $131,992.33 $2,650.56 $0.00 $746.30 $135,389.19
46 $135,389.19 $2,650.56 $0.00 $765.51 $138,805.26
47 $138,805.26 $2,650.56 $0.00 $784.83 $142,240.65
48 $142,240.65 $2,650.56 $0.00 $804.25 $145,695.46
49 $145,695.46 $2,650.56 $0.00 $823.78 $149,169.80
50 $149,169.80 $2,650.56 $0.00 $843.43 $152,663.79
51 $152,663.79 $2,650.56 $0.00 $863.18 $156,177.53
52 $156,177.53 $2,650.56 $0.00 $883.05 $159,711.14
53 $159,711.14 $2,650.56 $0.00 $903.03 $163,264.73
54 $163,264.73 $2,650.56 $0.00 $923.12 $166,838.41
55 $166,838.41 $2,650.56 $0.00 $943.33 $170,432.30
56 $170,432.30 $2,650.56 $0.00 $963.65 $174,046.51
57 $174,046.51 $2,650.56 $0.00 $984.08 $177,681.15
58 $177,681.15 $2,650.56 $0.00 $1,004.64 $181,336.35
59 $181,336.35 $2,650.56 $0.00 $1,025.30 $185,012.21
60 $185,012.21 $2,650.56 $0.00 $1,046.09 $188,708.86
61 $188,708.86 $2,650.56 $0.00 $1,066.99 $192,426.41
62 $192,426.41 $2,650.56 $0.00 $1,088.01 $196,164.98
63 $196,164.98 $2,650.56 $0.00 $1,109.15 $199,924.69
64 $199,924.69 $2,650.56 $0.00 $1,130.40 $203,705.65
65 $203,705.65 $2,650.56 $0.00 $1,151.78 $207,507.99
66 $207,507.99 $2,650.56 $0.00 $1,173.28 $211,331.83
67 $211,331.83 $2,650.56 $0.00 $1,194.90 $215,177.29
68 $215,177.29 $2,650.56 $0.00 $1,216.64 $219,044.49
69 $219,044.49 $2,650.56 $0.00 $1,238.51 $222,933.56
70 $222,933.56 $2,650.56 $0.00 $1,260.50 $226,844.62
71 $226,844.62 $2,650.56 $0.00 $1,282.61 $230,777.79
72 $230,777.79 $2,650.56 $0.00 $1,304.85 $234,733.20
73 $234,733.20 $2,650.56 $0.00 $1,327.22 $238,710.98
74 $238,710.98 $2,650.56 $0.00 $1,349.71 $242,711.25
75 $242,711.25 $2,650.56 $0.00 $1,372.32 $246,734.13
76 $246,734.13 $2,650.56 $0.00 $1,395.07 $250,779.76
77 $250,779.76 $2,650.56 $0.00 $1,417.95 $254,848.27
78 $254,848.27 $2,650.56 $0.00 $1,440.95 $258,939.78
79 $258,939.78 $2,650.56 $0.00 $1,464.08 $263,054.42
80 $263,054.42 $2,650.56 $0.00 $1,487.35 $267,192.33
81 $267,192.33 $2,650.56 $0.00 $1,510.74 $271,353.63
82 $271,353.63 $2,650.56 $0.00 $1,534.27 $275,538.46
83 $275,538.46 $2,650.56 $0.00 $1,557.93 $279,746.95
84 $279,746.95 $2,650.56 $0.00 $1,581.73 $283,979.24
85 $283,979.24 $2,650.56 $0.00 $1,605.66 $288,235.46
86 $288,235.46 $2,650.56 $0.00 $1,629.73 $292,515.75
87 $292,515.75 $2,650.56 $0.00 $1,653.93 $296,820.24
88 $296,820.24 $2,650.56 $0.00 $1,678.26 $301,149.06
89 $301,149.06 $2,650.56 $0.00 $1,702.74 $305,502.36
90 $305,502.36 $2,650.56 $0.00 $1,727.35 $309,880.27
91 $309,880.27 $2,650.56 $0.00 $1,752.11 $314,282.94
92 $314,282.94 $2,650.56 $0.00 $1,777.00 $318,710.50
93 $318,710.50 $2,650.56 $0.00 $1,802.04 $323,163.10
94 $323,163.10 $2,650.56 $0.00 $1,827.21 $327,640.87
95 $327,640.87 $2,650.56 $0.00 $1,852.53 $332,143.96
96 $332,143.96 $2,650.56 $0.00 $1,877.99 $336,672.51
97 $336,672.51 $2,650.56 $0.00 $1,903.60 $341,226.67
98 $341,226.67 $2,650.56 $0.00 $1,929.35 $345,806.58
99 $345,806.58 $2,650.56 $0.00 $1,955.24 $350,412.38
100 $350,412.38 $2,650.56 $0.00 $1,981.28 $355,044.22
101 $355,044.22 $2,650.56 $0.00 $2,007.47 $359,702.25
102 $359,702.25 $2,650.56 $0.00 $2,033.81 $364,386.62
103 $364,386.62 $2,650.56 $0.00 $2,060.29 $369,097.47
104 $369,097.47 $2,650.56 $0.00 $2,086.93 $373,834.96
105 $373,834.96 $2,650.56 $0.00 $2,113.72 $378,599.24
106 $378,599.24 $2,650.56 $0.00 $2,140.66 $383,390.46
107 $383,390.46 $2,650.56 $0.00 $2,167.75 $388,208.77
108 $388,208.77 $2,650.56 $0.00 $2,194.99 $393,054.32
109 $393,054.32 $2,650.56 $0.00 $2,222.39 $397,927.27
110 $397,927.27 $2,650.56 $0.00 $2,249.94 $402,827.77
111 $402,827.77 $2,650.56 $0.00 $2,277.65 $407,755.98
112 $407,755.98 $2,650.56 $0.00 $2,305.51 $412,712.05
113 $412,712.05 $2,650.56 $0.00 $2,333.53 $417,696.14
114 $417,696.14 $2,650.56 $0.00 $2,361.71 $422,708.41
115 $422,708.41 $2,650.56 $0.00 $2,390.05 $427,749.02
116 $427,749.02 $2,650.56 $0.00 $2,418.56 $432,818.14
117 $432,818.14 $2,650.56 $0.00 $2,447.22 $437,915.92
118 $437,915.92 $2,650.56 $0.00 $2,476.04 $443,042.52
119 $443,042.52 $2,650.56 $0.00 $2,505.03 $448,198.11
120 $448,198.11 $2,650.56 $0.00 $2,534.18 $453,382.85
121 $453,382.85 $2,650.56 $0.00 $2,563.49 $458,596.90
122 $458,596.90 $2,650.56 $0.00 $2,592.97 $463,840.43
123 $463,840.43 $2,650.56 $0.00 $2,622.62 $469,113.61
124 $469,113.61 $2,650.56 $0.00 $2,652.44 $474,416.61
125 $474,416.61 $2,650.56 $0.00 $2,682.42 $479,749.59
126 $479,749.59 $2,650.56 $0.00 $2,712.57 $485,112.72
127 $485,112.72 $2,650.56 $0.00 $2,742.90 $490,506.18
128 $490,506.18 $2,650.56 $0.00 $2,773.39 $495,930.13
129 $495,930.13 $2,650.56 $0.00 $2,804.06 $501,384.75
130 $501,384.75 $2,650.56 $0.00 $2,834.90 $506,870.21
131 $506,870.21 $2,650.56 $0.00 $2,865.92 $512,386.69
132 $512,386.69 $2,650.56 $0.00 $2,897.11 $517,934.36
133 $517,934.36 $2,650.56 $0.00 $2,928.48 $523,513.40
134 $523,513.40 $2,650.56 $0.00 $2,960.02 $529,123.98
135 $529,123.98 $2,650.56 $0.00 $2,991.74 $534,766.28
136 $534,766.28 $2,650.56 $0.00 $3,023.65 $540,440.49
137 $540,440.49 $2,650.56 $0.00 $3,055.73 $546,146.78
138 $546,146.78 $2,650.56 $0.00 $3,087.99 $551,885.33
139 $551,885.33 $2,650.56 $0.00 $3,120.44 $557,656.33
140 $557,656.33 $2,650.56 $0.00 $3,153.07 $563,459.96
141 $563,459.96 $2,650.56 $0.00 $3,185.88 $569,296.40
142 $569,296.40 $2,650.56 $0.00 $3,218.88 $575,165.84
143 $575,165.84 $2,650.56 $0.00 $3,252.07 $581,068.47
144 $581,068.47 $2,650.56 $0.00 $3,285.45 $587,004.48
145 $587,004.48 $2,650.56 $0.00 $3,319.01 $592,974.05
146 $592,974.05 $2,650.56 $0.00 $3,352.76 $598,977.37
147 $598,977.37 $2,650.56 $0.00 $3,386.71 $605,014.64
148 $605,014.64 $2,650.56 $0.00 $3,420.84 $611,086.04
149 $611,086.04 $2,650.56 $0.00 $3,455.17 $617,191.77
150 $617,191.77 $2,650.56 $0.00 $3,489.69 $623,332.02
151 $623,332.02 $2,650.56 $0.00 $3,524.41 $629,506.99
152 $629,506.99 $2,650.56 $0.00 $3,559.32 $635,716.87
153 $635,716.87 $2,650.56 $0.00 $3,594.44 $641,961.87
154 $641,961.87 $2,650.56 $0.00 $3,629.75 $648,242.18
155 $648,242.18 $2,650.56 $0.00 $3,665.26 $654,558.00
156 $654,558.00 $2,650.56 $0.00 $3,700.97 $660,909.53
157 $660,909.53 $2,650.56 $0.00 $3,736.88 $667,296.97
158 $667,296.97 $2,650.56 $0.00 $3,772.99 $673,720.52
159 $673,720.52 $2,650.56 $0.00 $3,809.31 $680,180.39
160 $680,180.39 $2,650.56 $0.00 $3,845.84 $686,676.79
161 $686,676.79 $2,650.56 $0.00 $3,882.57 $693,209.92
162 $693,209.92 $2,650.56 $0.00 $3,919.51 $699,779.99
163 $699,779.99 $2,650.56 $0.00 $3,956.66 $706,387.21
164 $706,387.21 $2,650.56 $0.00 $3,994.02 $713,031.79
165 $713,031.79 $2,650.56 $0.00 $4,031.59 $719,713.94
166 $719,713.94 $2,650.56 $0.00 $4,069.37 $726,433.87
167 $726,433.87 $2,650.56 $0.00 $4,107.36 $733,191.79
168 $733,191.79 $2,650.56 $0.00 $4,145.57 $739,987.92
169 $739,987.92 $2,650.56 $0.00 $4,184.00 $746,822.48
170 $746,822.48 $2,650.56 $0.00 $4,222.64 $753,695.68
171 $753,695.68 $2,650.56 $0.00 $4,261.50 $760,607.74
172 $760,607.74 $2,650.56 $0.00 $4,300.59 $767,558.89
173 $767,558.89 $2,650.56 $0.00 $4,339.89 $774,549.34
174 $774,549.34 $2,650.56 $0.00 $4,379.41 $781,579.31
175 $781,579.31 $2,650.56 $0.00 $4,419.16 $788,649.03
176 $788,649.03 $2,650.56 $0.00 $4,459.14 $795,758.73
177 $795,758.73 $2,650.56 $0.00 $4,499.34 $802,908.63
178 $802,908.63 $2,650.56 $0.00 $4,539.76 $810,098.95
179 $810,098.95 $2,650.56 $0.00 $4,580.42 $817,329.93
180 $817,329.93 $2,650.56 $0.00 $4,621.30 $824,601.79
181 $824,601.79 $2,650.56 $0.00 $4,662.42 $831,914.77
182 $831,914.77 $2,650.56 $0.00 $4,703.77 $839,269.10
183 $839,269.10 $2,650.56 $0.00 $4,745.35 $846,665.01
184 $846,665.01 $2,650.56 $0.00 $4,787.17 $854,102.74
185 $854,102.74 $2,650.56 $0.00 $4,829.22 $861,582.52
186 $861,582.52 $2,650.56 $0.00 $4,871.51 $869,104.59
187 $869,104.59 $2,650.56 $0.00 $4,914.04 $876,669.19
188 $876,669.19 $2,650.56 $0.00 $4,956.82 $884,276.57
189 $884,276.57 $2,650.56 $0.00 $4,999.83 $891,926.96
190 $891,926.96 $2,650.56 $0.00 $5,043.08 $899,620.60
191 $899,620.60 $2,650.56 $0.00 $5,086.59 $907,357.75
192 $907,357.75 $2,650.56 $0.00 $5,130.33 $915,138.64
193 $915,138.64 $2,650.56 $0.00 $5,174.33 $922,963.53
194 $922,963.53 $2,650.56 $0.00 $5,218.57 $930,832.66
195 $930,832.66 $2,650.56 $0.00 $5,263.06 $938,746.28
196 $938,746.28 $2,650.56 $0.00 $5,307.81 $946,704.65
197 $946,704.65 $2,650.56 $0.00 $5,352.81 $954,708.02
198 $954,708.02 $2,650.56 $0.00 $5,398.06 $962,756.64
199 $962,756.64 $2,650.56 $0.00 $5,443.57 $970,850.77
200 $970,850.77 $2,650.56 $0.00 $5,489.33 $978,990.66
201 $978,990.66 $2,650.56 $0.00 $5,535.36 $987,176.58
202 $987,176.58 $2,650.56 $0.00 $5,581.64 $995,408.78
203 $995,408.78 $2,650.56 $0.00 $5,628.19 $1,003,687.53
204 $1,003,687.53 $2,650.56 $0.00 $5,675.00 $1,012,013.09
205 $1,012,013.09 $2,650.56 $0.00 $5,722.07 $1,020,385.72
206 $1,020,385.72 $2,650.56 $0.00 $5,769.41 $1,028,805.69
207 $1,028,805.69 $2,650.56 $0.00 $5,817.02 $1,037,273.27
208 $1,037,273.27 $2,650.56 $0.00 $5,864.89 $1,045,788.72
209 $1,045,788.72 $2,650.56 $0.00 $5,913.04 $1,054,352.32
210 $1,054,352.32 $2,650.56 $0.00 $5,961.46 $1,062,964.34
211 $1,062,964.34 $2,650.56 $0.00 $6,010.15 $1,071,625.05
212 $1,071,625.05 $2,650.56 $0.00 $6,059.12 $1,080,334.73
213 $1,080,334.73 $2,650.56 $0.00 $6,108.37 $1,089,093.66
214 $1,089,093.66 $2,650.56 $0.00 $6,157.89 $1,097,902.11
215 $1,097,902.11 $2,650.56 $0.00 $6,207.70 $1,106,760.37
216 $1,106,760.37 $2,650.56 $0.00 $6,257.78 $1,115,668.71
217 $1,115,668.71 $2,650.56 $302,145.67 $6,308.15 $822,481.75
218 $822,481.75 $2,650.56 $0.00 $4,650.43 $829,782.74
219 $829,782.74 $2,650.56 $0.00 $4,691.71 $837,125.01
220 $837,125.01 $2,650.56 $0.00 $4,733.23 $844,508.80
221 $844,508.80 $2,650.56 $0.00 $4,774.98 $851,934.34
222 $851,934.34 $2,650.56 $0.00 $4,816.96 $859,401.86
223 $859,401.86 $2,650.56 $0.00 $4,859.18 $866,911.60
224 $866,911.60 $2,650.56 $0.00 $4,901.64 $874,463.80
225 $874,463.80 $2,650.56 $0.00 $4,944.35 $882,058.71
226 $882,058.71 $2,650.56 $0.00 $4,987.29 $889,696.56
227 $889,696.56 $2,650.56 $0.00 $5,030.47 $897,377.59
228 $897,377.59 $2,650.56 $0.00 $5,073.90 $905,102.05
229 $905,102.05 $2,650.56 $323,295.86 $5,117.58 $589,574.33
230 $589,574.33 $2,650.56 $0.00 $3,333.54 $595,558.43
231 $595,558.43 $2,650.56 $0.00 $3,367.37 $601,576.36
232 $601,576.36 $2,650.56 $0.00 $3,401.40 $607,628.32
233 $607,628.32 $2,650.56 $0.00 $3,435.62 $613,714.50
234 $613,714.50 $2,650.56 $0.00 $3,470.03 $619,835.09
235 $619,835.09 $2,650.56 $0.00 $3,504.64 $625,990.29
236 $625,990.29 $2,650.56 $0.00 $3,539.44 $632,180.29
237 $632,180.29 $2,650.56 $0.00 $3,574.44 $638,405.29
238 $638,405.29 $2,650.56 $0.00 $3,609.64 $644,665.49
239 $644,665.49 $2,650.56 $0.00 $3,645.03 $650,961.08
240 $650,961.08 $2,650.56 $0.00 $3,680.63 $657,292.27
241 $657,292.27 $2,650.56 $345,926.57 $3,716.43 $317,732.69
242 $317,732.69 $2,650.56 $0.00 $1,796.51 $322,179.76
243 $322,179.76 $2,650.56 $0.00 $1,821.65 $326,651.97
244 $326,651.97 $2,650.56 $0.00 $1,846.94 $331,149.47
245 $331,149.47 $2,650.56 $0.00 $1,872.37 $335,672.40
246 $335,672.40 $2,650.56 $0.00 $1,897.94 $340,220.90
247 $340,220.90 $2,650.56 $0.00 $1,923.66 $344,795.12
248 $344,795.12 $2,650.56 $0.00 $1,949.52 $349,395.20
249 $349,395.20 $2,650.56 $0.00 $1,975.53 $354,021.29
250 $354,021.29 $2,650.56 $0.00 $2,001.69 $358,673.54
251 $358,673.54 $2,650.56 $0.00 $2,027.99 $363,352.09
252 $363,352.09 $2,650.56 $0.00 $2,054.45 $368,057.10
253 $368,057.10 $0.00 $370,141.43 $2,081.05 -$3.28