Savings Plan and Future Cost Estimation for University of Indianapolis

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$123,831
Monthly savings required$980

How much will it cost to send your child to University of Indianapolis in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $495,323.37 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $980.22 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$47,752.00
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 $980.22 $0.00 $0.00 $980.22
2 $980.22 $980.22 $0.00 $5.54 $1,965.98
3 $1,965.98 $980.22 $0.00 $11.12 $2,957.32
4 $2,957.32 $980.22 $0.00 $16.72 $3,954.26
5 $3,954.26 $980.22 $0.00 $22.36 $4,956.84
6 $4,956.84 $980.22 $0.00 $28.03 $5,965.09
7 $5,965.09 $980.22 $0.00 $33.73 $6,979.04
8 $6,979.04 $980.22 $0.00 $39.46 $7,998.72
9 $7,998.72 $980.22 $0.00 $45.23 $9,024.17
10 $9,024.17 $980.22 $0.00 $51.02 $10,055.41
11 $10,055.41 $980.22 $0.00 $56.85 $11,092.48
12 $11,092.48 $980.22 $0.00 $62.72 $12,135.42
13 $12,135.42 $980.22 $0.00 $68.62 $13,184.26
14 $13,184.26 $980.22 $0.00 $74.55 $14,239.03
15 $14,239.03 $980.22 $0.00 $80.51 $15,299.76
16 $15,299.76 $980.22 $0.00 $86.51 $16,366.49
17 $16,366.49 $980.22 $0.00 $92.54 $17,439.25
18 $17,439.25 $980.22 $0.00 $98.60 $18,518.07
19 $18,518.07 $980.22 $0.00 $104.70 $19,602.99
20 $19,602.99 $980.22 $0.00 $110.84 $20,694.05
21 $20,694.05 $980.22 $0.00 $117.01 $21,791.28
22 $21,791.28 $980.22 $0.00 $123.21 $22,894.71
23 $22,894.71 $980.22 $0.00 $129.45 $24,004.38
24 $24,004.38 $980.22 $0.00 $135.72 $25,120.32
25 $25,120.32 $980.22 $0.00 $142.03 $26,242.57
26 $26,242.57 $980.22 $0.00 $148.38 $27,371.17
27 $27,371.17 $980.22 $0.00 $154.76 $28,506.15
28 $28,506.15 $980.22 $0.00 $161.18 $29,647.55
29 $29,647.55 $980.22 $0.00 $167.63 $30,795.40
30 $30,795.40 $980.22 $0.00 $174.12 $31,949.74
31 $31,949.74 $980.22 $0.00 $180.65 $33,110.61
32 $33,110.61 $980.22 $0.00 $187.21 $34,278.04
33 $34,278.04 $980.22 $0.00 $193.81 $35,452.07
34 $35,452.07 $980.22 $0.00 $200.45 $36,632.74
35 $36,632.74 $980.22 $0.00 $207.13 $37,820.09
36 $37,820.09 $980.22 $0.00 $213.84 $39,014.15
37 $39,014.15 $980.22 $0.00 $220.59 $40,214.96
38 $40,214.96 $980.22 $0.00 $227.38 $41,422.56
39 $41,422.56 $980.22 $0.00 $234.21 $42,636.99
40 $42,636.99 $980.22 $0.00 $241.08 $43,858.29
41 $43,858.29 $980.22 $0.00 $247.98 $45,086.49
42 $45,086.49 $980.22 $0.00 $254.93 $46,321.64
43 $46,321.64 $980.22 $0.00 $261.91 $47,563.77
44 $47,563.77 $980.22 $0.00 $268.93 $48,812.92
45 $48,812.92 $980.22 $0.00 $276.00 $50,069.14
46 $50,069.14 $980.22 $0.00 $283.10 $51,332.46
47 $51,332.46 $980.22 $0.00 $290.24 $52,602.92
48 $52,602.92 $980.22 $0.00 $297.42 $53,880.56
49 $53,880.56 $980.22 $0.00 $304.65 $55,165.43
50 $55,165.43 $980.22 $0.00 $311.91 $56,457.56
51 $56,457.56 $980.22 $0.00 $319.22 $57,757.00
52 $57,757.00 $980.22 $0.00 $326.57 $59,063.79
53 $59,063.79 $980.22 $0.00 $333.96 $60,377.97
54 $60,377.97 $980.22 $0.00 $341.39 $61,699.58
55 $61,699.58 $980.22 $0.00 $348.86 $63,028.66
56 $63,028.66 $980.22 $0.00 $356.37 $64,365.25
57 $64,365.25 $980.22 $0.00 $363.93 $65,709.40
58 $65,709.40 $980.22 $0.00 $371.53 $67,061.15
59 $67,061.15 $980.22 $0.00 $379.17 $68,420.54
60 $68,420.54 $980.22 $0.00 $386.86 $69,787.62
61 $69,787.62 $980.22 $0.00 $394.59 $71,162.43
62 $71,162.43 $980.22 $0.00 $402.36 $72,545.01
63 $72,545.01 $980.22 $0.00 $410.18 $73,935.41
64 $73,935.41 $980.22 $0.00 $418.04 $75,333.67
65 $75,333.67 $980.22 $0.00 $425.95 $76,739.84
66 $76,739.84 $980.22 $0.00 $433.90 $78,153.96
67 $78,153.96 $980.22 $0.00 $441.89 $79,576.07
68 $79,576.07 $980.22 $0.00 $449.93 $81,006.22
69 $81,006.22 $980.22 $0.00 $458.02 $82,444.46
70 $82,444.46 $980.22 $0.00 $466.15 $83,890.83
71 $83,890.83 $980.22 $0.00 $474.33 $85,345.38
72 $85,345.38 $980.22 $0.00 $482.56 $86,808.16
73 $86,808.16 $980.22 $0.00 $490.83 $88,279.21
74 $88,279.21 $980.22 $0.00 $499.14 $89,758.57
75 $89,758.57 $980.22 $0.00 $507.51 $91,246.30
76 $91,246.30 $980.22 $0.00 $515.92 $92,742.44
77 $92,742.44 $980.22 $0.00 $524.38 $94,247.04
78 $94,247.04 $980.22 $0.00 $532.89 $95,760.15
79 $95,760.15 $980.22 $0.00 $541.44 $97,281.81
80 $97,281.81 $980.22 $0.00 $550.05 $98,812.08
81 $98,812.08 $980.22 $0.00 $558.70 $100,351.00
82 $100,351.00 $980.22 $0.00 $567.40 $101,898.62
83 $101,898.62 $980.22 $0.00 $576.15 $103,454.99
84 $103,454.99 $980.22 $0.00 $584.95 $105,020.16
85 $105,020.16 $980.22 $0.00 $593.80 $106,594.18
86 $106,594.18 $980.22 $0.00 $602.70 $108,177.10
87 $108,177.10 $980.22 $0.00 $611.65 $109,768.97
88 $109,768.97 $980.22 $0.00 $620.65 $111,369.84
89 $111,369.84 $980.22 $0.00 $629.70 $112,979.76
90 $112,979.76 $980.22 $0.00 $638.80 $114,598.78
91 $114,598.78 $980.22 $0.00 $647.96 $116,226.96
92 $116,226.96 $980.22 $0.00 $657.16 $117,864.34
93 $117,864.34 $980.22 $0.00 $666.42 $119,510.98
94 $119,510.98 $980.22 $0.00 $675.73 $121,166.93
95 $121,166.93 $980.22 $0.00 $685.10 $122,832.25
96 $122,832.25 $980.22 $0.00 $694.51 $124,506.98
97 $124,506.98 $980.22 $0.00 $703.98 $126,191.18
98 $126,191.18 $980.22 $0.00 $713.50 $127,884.90
99 $127,884.90 $980.22 $0.00 $723.08 $129,588.20
100 $129,588.20 $980.22 $0.00 $732.71 $131,301.13
101 $131,301.13 $980.22 $0.00 $742.40 $133,023.75
102 $133,023.75 $980.22 $0.00 $752.14 $134,756.11
103 $134,756.11 $980.22 $0.00 $761.93 $136,498.26
104 $136,498.26 $980.22 $0.00 $771.78 $138,250.26
105 $138,250.26 $980.22 $0.00 $781.69 $140,012.17
106 $140,012.17 $980.22 $0.00 $791.65 $141,784.04
107 $141,784.04 $980.22 $0.00 $801.67 $143,565.93
108 $143,565.93 $980.22 $0.00 $811.74 $145,357.89
109 $145,357.89 $980.22 $0.00 $821.87 $147,159.98
110 $147,159.98 $980.22 $0.00 $832.06 $148,972.26
111 $148,972.26 $980.22 $0.00 $842.31 $150,794.79
112 $150,794.79 $980.22 $0.00 $852.62 $152,627.63
113 $152,627.63 $980.22 $0.00 $862.98 $154,470.83
114 $154,470.83 $980.22 $0.00 $873.40 $156,324.45
115 $156,324.45 $980.22 $0.00 $883.88 $158,188.55
116 $158,188.55 $980.22 $0.00 $894.42 $160,063.19
117 $160,063.19 $980.22 $0.00 $905.02 $161,948.43
118 $161,948.43 $980.22 $0.00 $915.68 $163,844.33
119 $163,844.33 $980.22 $0.00 $926.40 $165,750.95
120 $165,750.95 $980.22 $0.00 $937.18 $167,668.35
121 $167,668.35 $980.22 $0.00 $948.02 $169,596.59
122 $169,596.59 $980.22 $0.00 $958.92 $171,535.73
123 $171,535.73 $980.22 $0.00 $969.89 $173,485.84
124 $173,485.84 $980.22 $0.00 $980.91 $175,446.97
125 $175,446.97 $980.22 $0.00 $992.00 $177,419.19
126 $177,419.19 $980.22 $0.00 $1,003.15 $179,402.56
127 $179,402.56 $980.22 $0.00 $1,014.37 $181,397.15
128 $181,397.15 $980.22 $0.00 $1,025.65 $183,403.02
129 $183,403.02 $980.22 $0.00 $1,036.99 $185,420.23
130 $185,420.23 $980.22 $0.00 $1,048.39 $187,448.84
131 $187,448.84 $980.22 $0.00 $1,059.86 $189,488.92
132 $189,488.92 $980.22 $0.00 $1,071.40 $191,540.54
133 $191,540.54 $980.22 $0.00 $1,083.00 $193,603.76
134 $193,603.76 $980.22 $0.00 $1,094.66 $195,678.64
135 $195,678.64 $980.22 $0.00 $1,106.40 $197,765.26
136 $197,765.26 $980.22 $0.00 $1,118.19 $199,863.67
137 $199,863.67 $980.22 $0.00 $1,130.06 $201,973.95
138 $201,973.95 $980.22 $0.00 $1,141.99 $204,096.16
139 $204,096.16 $980.22 $0.00 $1,153.99 $206,230.37
140 $206,230.37 $980.22 $0.00 $1,166.06 $208,376.65
141 $208,376.65 $980.22 $0.00 $1,178.19 $210,535.06
142 $210,535.06 $980.22 $0.00 $1,190.40 $212,705.68
143 $212,705.68 $980.22 $0.00 $1,202.67 $214,888.57
144 $214,888.57 $980.22 $0.00 $1,215.01 $217,083.80
145 $217,083.80 $980.22 $0.00 $1,227.42 $219,291.44
146 $219,291.44 $980.22 $0.00 $1,239.91 $221,511.57
147 $221,511.57 $980.22 $0.00 $1,252.46 $223,744.25
148 $223,744.25 $980.22 $0.00 $1,265.08 $225,989.55
149 $225,989.55 $980.22 $0.00 $1,277.78 $228,247.55
150 $228,247.55 $980.22 $0.00 $1,290.54 $230,518.31
151 $230,518.31 $980.22 $0.00 $1,303.38 $232,801.91
152 $232,801.91 $980.22 $0.00 $1,316.30 $235,098.43
153 $235,098.43 $980.22 $0.00 $1,329.28 $237,407.93
154 $237,407.93 $980.22 $0.00 $1,342.34 $239,730.49
155 $239,730.49 $980.22 $0.00 $1,355.47 $242,066.18
156 $242,066.18 $980.22 $0.00 $1,368.68 $244,415.08
157 $244,415.08 $980.22 $0.00 $1,381.96 $246,777.26
158 $246,777.26 $980.22 $0.00 $1,395.31 $249,152.79
159 $249,152.79 $980.22 $0.00 $1,408.75 $251,541.76
160 $251,541.76 $980.22 $0.00 $1,422.25 $253,944.23
161 $253,944.23 $980.22 $0.00 $1,435.84 $256,360.29
162 $256,360.29 $980.22 $0.00 $1,449.50 $258,790.01
163 $258,790.01 $980.22 $0.00 $1,463.24 $261,233.47
164 $261,233.47 $980.22 $0.00 $1,477.05 $263,690.74
165 $263,690.74 $980.22 $0.00 $1,490.95 $266,161.91
166 $266,161.91 $980.22 $0.00 $1,504.92 $268,647.05
167 $268,647.05 $980.22 $0.00 $1,518.97 $271,146.24
168 $271,146.24 $980.22 $0.00 $1,533.10 $273,659.56
169 $273,659.56 $980.22 $0.00 $1,547.31 $276,187.09
170 $276,187.09 $980.22 $0.00 $1,561.60 $278,728.91
171 $278,728.91 $980.22 $0.00 $1,575.97 $281,285.10
172 $281,285.10 $980.22 $0.00 $1,590.43 $283,855.75
173 $283,855.75 $980.22 $0.00 $1,604.96 $286,440.93
174 $286,440.93 $980.22 $0.00 $1,619.58 $289,040.73
175 $289,040.73 $980.22 $0.00 $1,634.28 $291,655.23
176 $291,655.23 $980.22 $0.00 $1,649.06 $294,284.51
177 $294,284.51 $980.22 $0.00 $1,663.93 $296,928.66
178 $296,928.66 $980.22 $0.00 $1,678.88 $299,587.76
179 $299,587.76 $980.22 $0.00 $1,693.91 $302,261.89
180 $302,261.89 $980.22 $0.00 $1,709.03 $304,951.14
181 $304,951.14 $980.22 $0.00 $1,724.24 $307,655.60
182 $307,655.60 $980.22 $0.00 $1,739.53 $310,375.35
183 $310,375.35 $980.22 $0.00 $1,754.91 $313,110.48
184 $313,110.48 $980.22 $0.00 $1,770.37 $315,861.07
185 $315,861.07 $980.22 $0.00 $1,785.92 $318,627.21
186 $318,627.21 $980.22 $0.00 $1,801.56 $321,408.99
187 $321,408.99 $980.22 $0.00 $1,817.29 $324,206.50
188 $324,206.50 $980.22 $0.00 $1,833.11 $327,019.83
189 $327,019.83 $980.22 $0.00 $1,849.02 $329,849.07
190 $329,849.07 $980.22 $0.00 $1,865.01 $332,694.30
191 $332,694.30 $980.22 $0.00 $1,881.10 $335,555.62
192 $335,555.62 $980.22 $0.00 $1,897.28 $338,433.12
193 $338,433.12 $980.22 $0.00 $1,913.55 $341,326.89
194 $341,326.89 $980.22 $0.00 $1,929.91 $344,237.02
195 $344,237.02 $980.22 $0.00 $1,946.37 $347,163.61
196 $347,163.61 $980.22 $0.00 $1,962.91 $350,106.74
197 $350,106.74 $980.22 $0.00 $1,979.55 $353,066.51
198 $353,066.51 $980.22 $0.00 $1,996.29 $356,043.02
199 $356,043.02 $980.22 $0.00 $2,013.12 $359,036.36
200 $359,036.36 $980.22 $0.00 $2,030.04 $362,046.62
201 $362,046.62 $980.22 $0.00 $2,047.06 $365,073.90
202 $365,073.90 $980.22 $0.00 $2,064.18 $368,118.30
203 $368,118.30 $980.22 $0.00 $2,081.39 $371,179.91
204 $371,179.91 $980.22 $0.00 $2,098.71 $374,258.84
205 $374,258.84 $980.22 $0.00 $2,116.11 $377,355.17
206 $377,355.17 $980.22 $0.00 $2,133.62 $380,469.01
207 $380,469.01 $980.22 $0.00 $2,151.23 $383,600.46
208 $383,600.46 $980.22 $0.00 $2,168.93 $386,749.61
209 $386,749.61 $980.22 $0.00 $2,186.74 $389,916.57
210 $389,916.57 $980.22 $0.00 $2,204.64 $393,101.43
211 $393,101.43 $980.22 $0.00 $2,222.65 $396,304.30
212 $396,304.30 $980.22 $0.00 $2,240.76 $399,525.28
213 $399,525.28 $980.22 $0.00 $2,258.97 $402,764.47
214 $402,764.47 $980.22 $0.00 $2,277.29 $406,021.98
215 $406,021.98 $980.22 $0.00 $2,295.71 $409,297.91
216 $409,297.91 $980.22 $0.00 $2,314.23 $412,592.36
217 $412,592.36 $980.22 $114,920.88 $2,332.86 $300,984.56
218 $300,984.56 $980.22 $0.00 $1,701.81 $303,666.59
219 $303,666.59 $980.22 $0.00 $1,716.98 $306,363.79
220 $306,363.79 $980.22 $0.00 $1,732.23 $309,076.24
221 $309,076.24 $980.22 $0.00 $1,747.56 $311,804.02
222 $311,804.02 $980.22 $0.00 $1,762.99 $314,547.23
223 $314,547.23 $980.22 $0.00 $1,778.50 $317,305.95
224 $317,305.95 $980.22 $0.00 $1,794.09 $320,080.26
225 $320,080.26 $980.22 $0.00 $1,809.78 $322,870.26
226 $322,870.26 $980.22 $0.00 $1,825.56 $325,676.04
227 $325,676.04 $980.22 $0.00 $1,841.42 $328,497.68
228 $328,497.68 $980.22 $0.00 $1,857.37 $331,335.27
229 $331,335.27 $980.22 $120,666.93 $1,873.42 $213,521.98
230 $213,521.98 $980.22 $0.00 $1,207.28 $215,709.48
231 $215,709.48 $980.22 $0.00 $1,219.65 $217,909.35
232 $217,909.35 $980.22 $0.00 $1,232.09 $220,121.66
233 $220,121.66 $980.22 $0.00 $1,244.60 $222,346.48
234 $222,346.48 $980.22 $0.00 $1,257.18 $224,583.88
235 $224,583.88 $980.22 $0.00 $1,269.83 $226,833.93
236 $226,833.93 $980.22 $0.00 $1,282.55 $229,096.70
237 $229,096.70 $980.22 $0.00 $1,295.35 $231,372.27
238 $231,372.27 $980.22 $0.00 $1,308.21 $233,660.70
239 $233,660.70 $980.22 $0.00 $1,321.15 $235,962.07
240 $235,962.07 $980.22 $0.00 $1,334.16 $238,276.45
241 $238,276.45 $980.22 $126,700.27 $1,347.25 $113,903.65
242 $113,903.65 $980.22 $0.00 $644.03 $115,527.90
243 $115,527.90 $980.22 $0.00 $653.21 $117,161.33
244 $117,161.33 $980.22 $0.00 $662.45 $118,804.00
245 $118,804.00 $980.22 $0.00 $671.74 $120,455.96
246 $120,455.96 $980.22 $0.00 $681.08 $122,117.26
247 $122,117.26 $980.22 $0.00 $690.47 $123,787.95
248 $123,787.95 $980.22 $0.00 $699.92 $125,468.09
249 $125,468.09 $980.22 $0.00 $709.41 $127,157.72
250 $127,157.72 $980.22 $0.00 $718.97 $128,856.91
251 $128,856.91 $980.22 $0.00 $728.58 $130,565.71
252 $130,565.71 $980.22 $0.00 $738.24 $132,284.17
253 $132,284.17 $0.00 $133,035.29 $747.95 ($3.17)