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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$107,437
Monthly savings required$850

How much will it cost to send your child to Midway University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $429,746.34 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $850.45 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$41,430.00
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 $850.45 $0.00 $0.00 $850.45
2 $850.45 $850.45 $0.00 $4.81 $1,705.71
3 $1,705.71 $850.45 $0.00 $9.64 $2,565.80
4 $2,565.80 $850.45 $0.00 $14.51 $3,430.76
5 $3,430.76 $850.45 $0.00 $19.40 $4,300.61
6 $4,300.61 $850.45 $0.00 $24.32 $5,175.38
7 $5,175.38 $850.45 $0.00 $29.26 $6,055.09
8 $6,055.09 $850.45 $0.00 $34.24 $6,939.78
9 $6,939.78 $850.45 $0.00 $39.24 $7,829.47
10 $7,829.47 $850.45 $0.00 $44.27 $8,724.19
11 $8,724.19 $850.45 $0.00 $49.33 $9,623.97
12 $9,623.97 $850.45 $0.00 $54.42 $10,528.84
13 $10,528.84 $850.45 $0.00 $59.53 $11,438.82
14 $11,438.82 $850.45 $0.00 $64.68 $12,353.95
15 $12,353.95 $850.45 $0.00 $69.85 $13,274.25
16 $13,274.25 $850.45 $0.00 $75.05 $14,199.75
17 $14,199.75 $850.45 $0.00 $80.29 $15,130.49
18 $15,130.49 $850.45 $0.00 $85.55 $16,066.49
19 $16,066.49 $850.45 $0.00 $90.84 $17,007.78
20 $17,007.78 $850.45 $0.00 $96.16 $17,954.39
21 $17,954.39 $850.45 $0.00 $101.52 $18,906.36
22 $18,906.36 $850.45 $0.00 $106.90 $19,863.71
23 $19,863.71 $850.45 $0.00 $112.31 $20,826.47
24 $20,826.47 $850.45 $0.00 $117.76 $21,794.68
25 $21,794.68 $850.45 $0.00 $123.23 $22,768.36
26 $22,768.36 $850.45 $0.00 $128.74 $23,747.55
27 $23,747.55 $850.45 $0.00 $134.27 $24,732.27
28 $24,732.27 $850.45 $0.00 $139.84 $25,722.56
29 $25,722.56 $850.45 $0.00 $145.44 $26,718.45
30 $26,718.45 $850.45 $0.00 $151.07 $27,719.97
31 $27,719.97 $850.45 $0.00 $156.73 $28,727.15
32 $28,727.15 $850.45 $0.00 $162.43 $29,740.03
33 $29,740.03 $850.45 $0.00 $168.15 $30,758.63
34 $30,758.63 $850.45 $0.00 $173.91 $31,782.99
35 $31,782.99 $850.45 $0.00 $179.71 $32,813.15
36 $32,813.15 $850.45 $0.00 $185.53 $33,849.13
37 $33,849.13 $850.45 $0.00 $191.39 $34,890.97
38 $34,890.97 $850.45 $0.00 $197.28 $35,938.70
39 $35,938.70 $850.45 $0.00 $203.20 $36,992.35
40 $36,992.35 $850.45 $0.00 $209.16 $38,051.96
41 $38,051.96 $850.45 $0.00 $215.15 $39,117.56
42 $39,117.56 $850.45 $0.00 $221.18 $40,189.19
43 $40,189.19 $850.45 $0.00 $227.24 $41,266.88
44 $41,266.88 $850.45 $0.00 $233.33 $42,350.66
45 $42,350.66 $850.45 $0.00 $239.46 $43,440.57
46 $43,440.57 $850.45 $0.00 $245.62 $44,536.64
47 $44,536.64 $850.45 $0.00 $251.82 $45,638.91
48 $45,638.91 $850.45 $0.00 $258.05 $46,747.41
49 $46,747.41 $850.45 $0.00 $264.32 $47,862.18
50 $47,862.18 $850.45 $0.00 $270.62 $48,983.25
51 $48,983.25 $850.45 $0.00 $276.96 $50,110.66
52 $50,110.66 $850.45 $0.00 $283.33 $51,244.44
53 $51,244.44 $850.45 $0.00 $289.74 $52,384.63
54 $52,384.63 $850.45 $0.00 $296.19 $53,531.27
55 $53,531.27 $850.45 $0.00 $302.67 $54,684.39
56 $54,684.39 $850.45 $0.00 $309.19 $55,844.03
57 $55,844.03 $850.45 $0.00 $315.75 $57,010.23
58 $57,010.23 $850.45 $0.00 $322.34 $58,183.02
59 $58,183.02 $850.45 $0.00 $328.98 $59,362.45
60 $59,362.45 $850.45 $0.00 $335.64 $60,548.54
61 $60,548.54 $850.45 $0.00 $342.35 $61,741.34
62 $61,741.34 $850.45 $0.00 $349.09 $62,940.88
63 $62,940.88 $850.45 $0.00 $355.88 $64,147.21
64 $64,147.21 $850.45 $0.00 $362.70 $65,360.36
65 $65,360.36 $850.45 $0.00 $369.56 $66,580.37
66 $66,580.37 $850.45 $0.00 $376.46 $67,807.28
67 $67,807.28 $850.45 $0.00 $383.39 $69,041.12
68 $69,041.12 $850.45 $0.00 $390.37 $70,281.94
69 $70,281.94 $850.45 $0.00 $397.38 $71,529.77
70 $71,529.77 $850.45 $0.00 $404.44 $72,784.66
71 $72,784.66 $850.45 $0.00 $411.54 $74,046.65
72 $74,046.65 $850.45 $0.00 $418.67 $75,315.77
73 $75,315.77 $850.45 $0.00 $425.85 $76,592.07
74 $76,592.07 $850.45 $0.00 $433.06 $77,875.58
75 $77,875.58 $850.45 $0.00 $440.32 $79,166.35
76 $79,166.35 $850.45 $0.00 $447.62 $80,464.42
77 $80,464.42 $850.45 $0.00 $454.96 $81,769.83
78 $81,769.83 $850.45 $0.00 $462.34 $83,082.62
79 $83,082.62 $850.45 $0.00 $469.76 $84,402.83
80 $84,402.83 $850.45 $0.00 $477.23 $85,730.51
81 $85,730.51 $850.45 $0.00 $484.73 $87,065.69
82 $87,065.69 $850.45 $0.00 $492.28 $88,408.42
83 $88,408.42 $850.45 $0.00 $499.87 $89,758.74
84 $89,758.74 $850.45 $0.00 $507.51 $91,116.70
85 $91,116.70 $850.45 $0.00 $515.19 $92,482.34
86 $92,482.34 $850.45 $0.00 $522.91 $93,855.70
87 $93,855.70 $850.45 $0.00 $530.67 $95,236.82
88 $95,236.82 $850.45 $0.00 $538.48 $96,625.75
89 $96,625.75 $850.45 $0.00 $546.34 $98,022.54
90 $98,022.54 $850.45 $0.00 $554.23 $99,427.22
91 $99,427.22 $850.45 $0.00 $562.18 $100,839.85
92 $100,839.85 $850.45 $0.00 $570.16 $102,260.46
93 $102,260.46 $850.45 $0.00 $578.20 $103,689.11
94 $103,689.11 $850.45 $0.00 $586.27 $105,125.83
95 $105,125.83 $850.45 $0.00 $594.40 $106,570.68
96 $106,570.68 $850.45 $0.00 $602.57 $108,023.70
97 $108,023.70 $850.45 $0.00 $610.78 $109,484.93
98 $109,484.93 $850.45 $0.00 $619.04 $110,954.42
99 $110,954.42 $850.45 $0.00 $627.35 $112,432.22
100 $112,432.22 $850.45 $0.00 $635.71 $113,918.38
101 $113,918.38 $850.45 $0.00 $644.11 $115,412.94
102 $115,412.94 $850.45 $0.00 $652.56 $116,915.95
103 $116,915.95 $850.45 $0.00 $661.06 $118,427.46
104 $118,427.46 $850.45 $0.00 $669.61 $119,947.52
105 $119,947.52 $850.45 $0.00 $678.20 $121,476.17
106 $121,476.17 $850.45 $0.00 $686.84 $123,013.46
107 $123,013.46 $850.45 $0.00 $695.54 $124,559.45
108 $124,559.45 $850.45 $0.00 $704.28 $126,114.18
109 $126,114.18 $850.45 $0.00 $713.07 $127,677.70
110 $127,677.70 $850.45 $0.00 $721.91 $129,250.06
111 $129,250.06 $850.45 $0.00 $730.80 $130,831.31
112 $130,831.31 $850.45 $0.00 $739.74 $132,421.50
113 $132,421.50 $850.45 $0.00 $748.73 $134,020.68
114 $134,020.68 $850.45 $0.00 $757.77 $135,628.90
115 $135,628.90 $850.45 $0.00 $766.87 $137,246.22
116 $137,246.22 $850.45 $0.00 $776.01 $138,872.68
117 $138,872.68 $850.45 $0.00 $785.21 $140,508.34
118 $140,508.34 $850.45 $0.00 $794.45 $142,153.24
119 $142,153.24 $850.45 $0.00 $803.76 $143,807.45
120 $143,807.45 $850.45 $0.00 $813.11 $145,471.01
121 $145,471.01 $850.45 $0.00 $822.51 $147,143.97
122 $147,143.97 $850.45 $0.00 $831.97 $148,826.39
123 $148,826.39 $850.45 $0.00 $841.49 $150,518.33
124 $150,518.33 $850.45 $0.00 $851.05 $152,219.83
125 $152,219.83 $850.45 $0.00 $860.67 $153,930.95
126 $153,930.95 $850.45 $0.00 $870.35 $155,651.75
127 $155,651.75 $850.45 $0.00 $880.08 $157,382.28
128 $157,382.28 $850.45 $0.00 $889.86 $159,122.59
129 $159,122.59 $850.45 $0.00 $899.70 $160,872.74
130 $160,872.74 $850.45 $0.00 $909.60 $162,632.79
131 $162,632.79 $850.45 $0.00 $919.55 $164,402.79
132 $164,402.79 $850.45 $0.00 $929.56 $166,182.80
133 $166,182.80 $850.45 $0.00 $939.62 $167,972.87
134 $167,972.87 $850.45 $0.00 $949.74 $169,773.06
135 $169,773.06 $850.45 $0.00 $959.92 $171,583.43
136 $171,583.43 $850.45 $0.00 $970.16 $173,404.04
137 $173,404.04 $850.45 $0.00 $980.45 $175,234.94
138 $175,234.94 $850.45 $0.00 $990.80 $177,076.19
139 $177,076.19 $850.45 $0.00 $1,001.21 $178,927.85
140 $178,927.85 $850.45 $0.00 $1,011.68 $180,789.98
141 $180,789.98 $850.45 $0.00 $1,022.21 $182,662.64
142 $182,662.64 $850.45 $0.00 $1,032.80 $184,545.89
143 $184,545.89 $850.45 $0.00 $1,043.45 $186,439.79
144 $186,439.79 $850.45 $0.00 $1,054.16 $188,344.40
145 $188,344.40 $850.45 $0.00 $1,064.93 $190,259.78
146 $190,259.78 $850.45 $0.00 $1,075.76 $192,185.99
147 $192,185.99 $850.45 $0.00 $1,086.65 $194,123.09
148 $194,123.09 $850.45 $0.00 $1,097.60 $196,071.14
149 $196,071.14 $850.45 $0.00 $1,108.61 $198,030.20
150 $198,030.20 $850.45 $0.00 $1,119.69 $200,000.34
151 $200,000.34 $850.45 $0.00 $1,130.83 $201,981.62
152 $201,981.62 $850.45 $0.00 $1,142.03 $203,974.10
153 $203,974.10 $850.45 $0.00 $1,153.30 $205,977.85
154 $205,977.85 $850.45 $0.00 $1,164.63 $207,992.93
155 $207,992.93 $850.45 $0.00 $1,176.02 $210,019.40
156 $210,019.40 $850.45 $0.00 $1,187.48 $212,057.33
157 $212,057.33 $850.45 $0.00 $1,199.00 $214,106.78
158 $214,106.78 $850.45 $0.00 $1,210.59 $216,167.82
159 $216,167.82 $850.45 $0.00 $1,222.24 $218,240.51
160 $218,240.51 $850.45 $0.00 $1,233.96 $220,324.92
161 $220,324.92 $850.45 $0.00 $1,245.75 $222,421.12
162 $222,421.12 $850.45 $0.00 $1,257.60 $224,529.17
163 $224,529.17 $850.45 $0.00 $1,269.52 $226,649.14
164 $226,649.14 $850.45 $0.00 $1,281.51 $228,781.10
165 $228,781.10 $850.45 $0.00 $1,293.56 $230,925.11
166 $230,925.11 $850.45 $0.00 $1,305.68 $233,081.24
167 $233,081.24 $850.45 $0.00 $1,317.88 $235,249.57
168 $235,249.57 $850.45 $0.00 $1,330.14 $237,430.16
169 $237,430.16 $850.45 $0.00 $1,342.46 $239,623.07
170 $239,623.07 $850.45 $0.00 $1,354.86 $241,828.38
171 $241,828.38 $850.45 $0.00 $1,367.33 $244,046.16
172 $244,046.16 $850.45 $0.00 $1,379.87 $246,276.48
173 $246,276.48 $850.45 $0.00 $1,392.48 $248,519.41
174 $248,519.41 $850.45 $0.00 $1,405.16 $250,775.02
175 $250,775.02 $850.45 $0.00 $1,417.92 $253,043.39
176 $253,043.39 $850.45 $0.00 $1,430.74 $255,324.58
177 $255,324.58 $850.45 $0.00 $1,443.64 $257,618.67
178 $257,618.67 $850.45 $0.00 $1,456.61 $259,925.73
179 $259,925.73 $850.45 $0.00 $1,469.66 $262,245.84
180 $262,245.84 $850.45 $0.00 $1,482.78 $264,579.07
181 $264,579.07 $850.45 $0.00 $1,495.97 $266,925.49
182 $266,925.49 $850.45 $0.00 $1,509.24 $269,285.18
183 $269,285.18 $850.45 $0.00 $1,522.58 $271,658.21
184 $271,658.21 $850.45 $0.00 $1,536.00 $274,044.66
185 $274,044.66 $850.45 $0.00 $1,549.49 $276,444.60
186 $276,444.60 $850.45 $0.00 $1,563.06 $278,858.11
187 $278,858.11 $850.45 $0.00 $1,576.70 $281,285.26
188 $281,285.26 $850.45 $0.00 $1,590.43 $283,726.14
189 $283,726.14 $850.45 $0.00 $1,604.23 $286,180.82
190 $286,180.82 $850.45 $0.00 $1,618.11 $288,649.38
191 $288,649.38 $850.45 $0.00 $1,632.07 $291,131.90
192 $291,131.90 $850.45 $0.00 $1,646.10 $293,628.45
193 $293,628.45 $850.45 $0.00 $1,660.22 $296,139.12
194 $296,139.12 $850.45 $0.00 $1,674.41 $298,663.98
195 $298,663.98 $850.45 $0.00 $1,688.69 $301,203.12
196 $301,203.12 $850.45 $0.00 $1,703.05 $303,756.62
197 $303,756.62 $850.45 $0.00 $1,717.48 $306,324.55
198 $306,324.55 $850.45 $0.00 $1,732.00 $308,907.00
199 $308,907.00 $850.45 $0.00 $1,746.61 $311,504.06
200 $311,504.06 $850.45 $0.00 $1,761.29 $314,115.80
201 $314,115.80 $850.45 $0.00 $1,776.06 $316,742.31
202 $316,742.31 $850.45 $0.00 $1,790.91 $319,383.67
203 $319,383.67 $850.45 $0.00 $1,805.84 $322,039.96
204 $322,039.96 $850.45 $0.00 $1,820.86 $324,711.27
205 $324,711.27 $850.45 $0.00 $1,835.96 $327,397.68
206 $327,397.68 $850.45 $0.00 $1,851.15 $330,099.28
207 $330,099.28 $850.45 $0.00 $1,866.43 $332,816.16
208 $332,816.16 $850.45 $0.00 $1,881.79 $335,548.40
209 $335,548.40 $850.45 $0.00 $1,897.24 $338,296.09
210 $338,296.09 $850.45 $0.00 $1,912.78 $341,059.32
211 $341,059.32 $850.45 $0.00 $1,928.40 $343,838.17
212 $343,838.17 $850.45 $0.00 $1,944.11 $346,632.73
213 $346,632.73 $850.45 $0.00 $1,959.91 $349,443.09
214 $349,443.09 $850.45 $0.00 $1,975.80 $352,269.34
215 $352,269.34 $850.45 $0.00 $1,991.78 $355,111.57
216 $355,111.57 $850.45 $0.00 $2,007.85 $357,969.87
217 $357,969.87 $850.45 $99,706.23 $2,024.01 $261,138.10
218 $261,138.10 $850.45 $0.00 $1,476.51 $263,465.06
219 $263,465.06 $850.45 $0.00 $1,489.67 $265,805.18
220 $265,805.18 $850.45 $0.00 $1,502.90 $268,158.53
221 $268,158.53 $850.45 $0.00 $1,516.21 $270,525.19
222 $270,525.19 $850.45 $0.00 $1,529.59 $272,905.23
223 $272,905.23 $850.45 $0.00 $1,543.05 $275,298.73
224 $275,298.73 $850.45 $0.00 $1,556.58 $277,705.76
225 $277,705.76 $850.45 $0.00 $1,570.19 $280,126.40
226 $280,126.40 $850.45 $0.00 $1,583.88 $282,560.73
227 $282,560.73 $850.45 $0.00 $1,597.64 $285,008.82
228 $285,008.82 $850.45 $0.00 $1,611.48 $287,470.75
229 $287,470.75 $850.45 $104,691.55 $1,625.40 $185,255.05
230 $185,255.05 $850.45 $0.00 $1,047.46 $187,152.96
231 $187,152.96 $850.45 $0.00 $1,058.19 $189,061.60
232 $189,061.60 $850.45 $0.00 $1,068.98 $190,981.03
233 $190,981.03 $850.45 $0.00 $1,079.83 $192,911.31
234 $192,911.31 $850.45 $0.00 $1,090.75 $194,852.51
235 $194,852.51 $850.45 $0.00 $1,101.72 $196,804.68
236 $196,804.68 $850.45 $0.00 $1,112.76 $198,767.89
237 $198,767.89 $850.45 $0.00 $1,123.86 $200,742.20
238 $200,742.20 $850.45 $0.00 $1,135.03 $202,727.68
239 $202,727.68 $850.45 $0.00 $1,146.25 $204,724.38
240 $204,724.38 $850.45 $0.00 $1,157.54 $206,732.37
241 $206,732.37 $850.45 $109,926.12 $1,168.89 $98,825.59
242 $98,825.59 $850.45 $0.00 $558.77 $100,234.81
243 $100,234.81 $850.45 $0.00 $566.74 $101,652.00
244 $101,652.00 $850.45 $0.00 $574.76 $103,077.21
245 $103,077.21 $850.45 $0.00 $582.81 $104,510.47
246 $104,510.47 $850.45 $0.00 $590.92 $105,951.84
247 $105,951.84 $850.45 $0.00 $599.07 $107,401.36
248 $107,401.36 $850.45 $0.00 $607.26 $108,859.07
249 $108,859.07 $850.45 $0.00 $615.51 $110,325.03
250 $110,325.03 $850.45 $0.00 $623.79 $111,799.27
251 $111,799.27 $850.45 $0.00 $632.13 $113,281.85
252 $113,281.85 $850.45 $0.00 $640.51 $114,772.81
253 $114,772.81 $0.00 $115,422.43 $648.94 ($0.68)