Savings Plan and Future Cost Estimation for Midway University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$157,758
Monthly savings required$1,247

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 $631,032.01 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,246.81 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$42,050.00
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 $1,246.81 $0.00 $0.00 $1,246.81
2 $1,246.81 $1,246.81 $0.00 $7.05 $2,500.67
3 $2,500.67 $1,246.81 $0.00 $14.14 $3,761.62
4 $3,761.62 $1,246.81 $0.00 $21.27 $5,029.70
5 $5,029.70 $1,246.81 $0.00 $28.44 $6,304.95
6 $6,304.95 $1,246.81 $0.00 $35.65 $7,587.41
7 $7,587.41 $1,246.81 $0.00 $42.90 $8,877.12
8 $8,877.12 $1,246.81 $0.00 $50.19 $10,174.12
9 $10,174.12 $1,246.81 $0.00 $57.53 $11,478.46
10 $11,478.46 $1,246.81 $0.00 $64.90 $12,790.17
11 $12,790.17 $1,246.81 $0.00 $72.32 $14,109.30
12 $14,109.30 $1,246.81 $0.00 $79.78 $15,435.89
13 $15,435.89 $1,246.81 $0.00 $87.28 $16,769.98
14 $16,769.98 $1,246.81 $0.00 $94.82 $18,111.61
15 $18,111.61 $1,246.81 $0.00 $102.41 $19,460.83
16 $19,460.83 $1,246.81 $0.00 $110.03 $20,817.67
17 $20,817.67 $1,246.81 $0.00 $117.71 $22,182.19
18 $22,182.19 $1,246.81 $0.00 $125.42 $23,554.42
19 $23,554.42 $1,246.81 $0.00 $133.18 $24,934.41
20 $24,934.41 $1,246.81 $0.00 $140.98 $26,322.20
21 $26,322.20 $1,246.81 $0.00 $148.83 $27,717.84
22 $27,717.84 $1,246.81 $0.00 $156.72 $29,121.37
23 $29,121.37 $1,246.81 $0.00 $164.66 $30,532.84
24 $30,532.84 $1,246.81 $0.00 $172.64 $31,952.29
25 $31,952.29 $1,246.81 $0.00 $180.66 $33,379.76
26 $33,379.76 $1,246.81 $0.00 $188.73 $34,815.30
27 $34,815.30 $1,246.81 $0.00 $196.85 $36,258.96
28 $36,258.96 $1,246.81 $0.00 $205.01 $37,710.78
29 $37,710.78 $1,246.81 $0.00 $213.22 $39,170.81
30 $39,170.81 $1,246.81 $0.00 $221.48 $40,639.10
31 $40,639.10 $1,246.81 $0.00 $229.78 $42,115.69
32 $42,115.69 $1,246.81 $0.00 $238.13 $43,600.63
33 $43,600.63 $1,246.81 $0.00 $246.52 $45,093.96
34 $45,093.96 $1,246.81 $0.00 $254.97 $46,595.74
35 $46,595.74 $1,246.81 $0.00 $263.46 $48,106.01
36 $48,106.01 $1,246.81 $0.00 $272.00 $49,624.82
37 $49,624.82 $1,246.81 $0.00 $280.59 $51,152.22
38 $51,152.22 $1,246.81 $0.00 $289.22 $52,688.25
39 $52,688.25 $1,246.81 $0.00 $297.91 $54,232.97
40 $54,232.97 $1,246.81 $0.00 $306.64 $55,786.42
41 $55,786.42 $1,246.81 $0.00 $315.42 $57,348.65
42 $57,348.65 $1,246.81 $0.00 $324.26 $58,919.72
43 $58,919.72 $1,246.81 $0.00 $333.14 $60,499.67
44 $60,499.67 $1,246.81 $0.00 $342.07 $62,088.55
45 $62,088.55 $1,246.81 $0.00 $351.06 $63,686.42
46 $63,686.42 $1,246.81 $0.00 $360.09 $65,293.32
47 $65,293.32 $1,246.81 $0.00 $369.18 $66,909.31
48 $66,909.31 $1,246.81 $0.00 $378.31 $68,534.43
49 $68,534.43 $1,246.81 $0.00 $387.50 $70,168.74
50 $70,168.74 $1,246.81 $0.00 $396.74 $71,812.29
51 $71,812.29 $1,246.81 $0.00 $406.04 $73,465.14
52 $73,465.14 $1,246.81 $0.00 $415.38 $75,127.33
53 $75,127.33 $1,246.81 $0.00 $424.78 $76,798.92
54 $76,798.92 $1,246.81 $0.00 $434.23 $78,479.96
55 $78,479.96 $1,246.81 $0.00 $443.74 $80,170.51
56 $80,170.51 $1,246.81 $0.00 $453.30 $81,870.62
57 $81,870.62 $1,246.81 $0.00 $462.91 $83,580.34
58 $83,580.34 $1,246.81 $0.00 $472.58 $85,299.73
59 $85,299.73 $1,246.81 $0.00 $482.30 $87,028.84
60 $87,028.84 $1,246.81 $0.00 $492.07 $88,767.72
61 $88,767.72 $1,246.81 $0.00 $501.91 $90,516.44
62 $90,516.44 $1,246.81 $0.00 $511.79 $92,275.04
63 $92,275.04 $1,246.81 $0.00 $521.74 $94,043.59
64 $94,043.59 $1,246.81 $0.00 $531.74 $95,822.14
65 $95,822.14 $1,246.81 $0.00 $541.79 $97,610.74
66 $97,610.74 $1,246.81 $0.00 $551.91 $99,409.46
67 $99,409.46 $1,246.81 $0.00 $562.08 $101,218.35
68 $101,218.35 $1,246.81 $0.00 $572.30 $103,037.46
69 $103,037.46 $1,246.81 $0.00 $582.59 $104,866.86
70 $104,866.86 $1,246.81 $0.00 $592.93 $106,706.60
71 $106,706.60 $1,246.81 $0.00 $603.33 $108,556.74
72 $108,556.74 $1,246.81 $0.00 $613.80 $110,417.35
73 $110,417.35 $1,246.81 $0.00 $624.32 $112,288.48
74 $112,288.48 $1,246.81 $0.00 $634.90 $114,170.19
75 $114,170.19 $1,246.81 $0.00 $645.53 $116,062.53
76 $116,062.53 $1,246.81 $0.00 $656.23 $117,965.57
77 $117,965.57 $1,246.81 $0.00 $666.99 $119,879.37
78 $119,879.37 $1,246.81 $0.00 $677.82 $121,804.00
79 $121,804.00 $1,246.81 $0.00 $688.70 $123,739.51
80 $123,739.51 $1,246.81 $0.00 $699.64 $125,685.96
81 $125,685.96 $1,246.81 $0.00 $710.65 $127,643.42
82 $127,643.42 $1,246.81 $0.00 $721.71 $129,611.94
83 $129,611.94 $1,246.81 $0.00 $732.84 $131,591.59
84 $131,591.59 $1,246.81 $0.00 $744.04 $133,582.44
85 $133,582.44 $1,246.81 $0.00 $755.29 $135,584.54
86 $135,584.54 $1,246.81 $0.00 $766.61 $137,597.96
87 $137,597.96 $1,246.81 $0.00 $778.00 $139,622.77
88 $139,622.77 $1,246.81 $0.00 $789.45 $141,659.03
89 $141,659.03 $1,246.81 $0.00 $800.96 $143,706.80
90 $143,706.80 $1,246.81 $0.00 $812.54 $145,766.15
91 $145,766.15 $1,246.81 $0.00 $824.18 $147,837.14
92 $147,837.14 $1,246.81 $0.00 $835.89 $149,919.84
93 $149,919.84 $1,246.81 $0.00 $847.67 $152,014.32
94 $152,014.32 $1,246.81 $0.00 $859.51 $154,120.64
95 $154,120.64 $1,246.81 $0.00 $871.42 $156,238.87
96 $156,238.87 $1,246.81 $0.00 $883.40 $158,369.08
97 $158,369.08 $1,246.81 $0.00 $895.44 $160,511.33
98 $160,511.33 $1,246.81 $0.00 $907.55 $162,665.69
99 $162,665.69 $1,246.81 $0.00 $919.74 $164,832.24
100 $164,832.24 $1,246.81 $0.00 $931.99 $167,011.04
101 $167,011.04 $1,246.81 $0.00 $944.30 $169,202.15
102 $169,202.15 $1,246.81 $0.00 $956.69 $171,405.65
103 $171,405.65 $1,246.81 $0.00 $969.15 $173,621.61
104 $173,621.61 $1,246.81 $0.00 $981.68 $175,850.10
105 $175,850.10 $1,246.81 $0.00 $994.28 $178,091.19
106 $178,091.19 $1,246.81 $0.00 $1,006.95 $180,344.95
107 $180,344.95 $1,246.81 $0.00 $1,019.70 $182,611.46
108 $182,611.46 $1,246.81 $0.00 $1,032.51 $184,890.78
109 $184,890.78 $1,246.81 $0.00 $1,045.40 $187,182.99
110 $187,182.99 $1,246.81 $0.00 $1,058.36 $189,488.16
111 $189,488.16 $1,246.81 $0.00 $1,071.39 $191,806.36
112 $191,806.36 $1,246.81 $0.00 $1,084.50 $194,137.67
113 $194,137.67 $1,246.81 $0.00 $1,097.68 $196,482.16
114 $196,482.16 $1,246.81 $0.00 $1,110.94 $198,839.91
115 $198,839.91 $1,246.81 $0.00 $1,124.27 $201,210.99
116 $201,210.99 $1,246.81 $0.00 $1,137.68 $203,595.48
117 $203,595.48 $1,246.81 $0.00 $1,151.16 $205,993.45
118 $205,993.45 $1,246.81 $0.00 $1,164.72 $208,404.98
119 $208,404.98 $1,246.81 $0.00 $1,178.35 $210,830.14
120 $210,830.14 $1,246.81 $0.00 $1,192.06 $213,269.01
121 $213,269.01 $1,246.81 $0.00 $1,205.85 $215,721.67
122 $215,721.67 $1,246.81 $0.00 $1,219.72 $218,188.20
123 $218,188.20 $1,246.81 $0.00 $1,233.67 $220,668.68
124 $220,668.68 $1,246.81 $0.00 $1,247.69 $223,163.18
125 $223,163.18 $1,246.81 $0.00 $1,261.80 $225,671.79
126 $225,671.79 $1,246.81 $0.00 $1,275.98 $228,194.58
127 $228,194.58 $1,246.81 $0.00 $1,290.25 $230,731.64
128 $230,731.64 $1,246.81 $0.00 $1,304.59 $233,283.04
129 $233,283.04 $1,246.81 $0.00 $1,319.02 $235,848.87
130 $235,848.87 $1,246.81 $0.00 $1,333.52 $238,429.20
131 $238,429.20 $1,246.81 $0.00 $1,348.11 $241,024.12
132 $241,024.12 $1,246.81 $0.00 $1,362.79 $243,633.72
133 $243,633.72 $1,246.81 $0.00 $1,377.54 $246,258.07
134 $246,258.07 $1,246.81 $0.00 $1,392.38 $248,897.26
135 $248,897.26 $1,246.81 $0.00 $1,407.30 $251,551.37
136 $251,551.37 $1,246.81 $0.00 $1,422.31 $254,220.49
137 $254,220.49 $1,246.81 $0.00 $1,437.40 $256,904.70
138 $256,904.70 $1,246.81 $0.00 $1,452.58 $259,604.09
139 $259,604.09 $1,246.81 $0.00 $1,467.84 $262,318.74
140 $262,318.74 $1,246.81 $0.00 $1,483.19 $265,048.74
141 $265,048.74 $1,246.81 $0.00 $1,498.62 $267,794.17
142 $267,794.17 $1,246.81 $0.00 $1,514.15 $270,555.13
143 $270,555.13 $1,246.81 $0.00 $1,529.76 $273,331.70
144 $273,331.70 $1,246.81 $0.00 $1,545.46 $276,123.97
145 $276,123.97 $1,246.81 $0.00 $1,561.25 $278,932.03
146 $278,932.03 $1,246.81 $0.00 $1,577.12 $281,755.96
147 $281,755.96 $1,246.81 $0.00 $1,593.09 $284,595.86
148 $284,595.86 $1,246.81 $0.00 $1,609.15 $287,451.82
149 $287,451.82 $1,246.81 $0.00 $1,625.29 $290,323.92
150 $290,323.92 $1,246.81 $0.00 $1,641.53 $293,212.26
151 $293,212.26 $1,246.81 $0.00 $1,657.86 $296,116.93
152 $296,116.93 $1,246.81 $0.00 $1,674.29 $299,038.03
153 $299,038.03 $1,246.81 $0.00 $1,690.80 $301,975.64
154 $301,975.64 $1,246.81 $0.00 $1,707.41 $304,929.86
155 $304,929.86 $1,246.81 $0.00 $1,724.12 $307,900.79
156 $307,900.79 $1,246.81 $0.00 $1,740.92 $310,888.52
157 $310,888.52 $1,246.81 $0.00 $1,757.81 $313,893.14
158 $313,893.14 $1,246.81 $0.00 $1,774.80 $316,914.75
159 $316,914.75 $1,246.81 $0.00 $1,791.88 $319,953.44
160 $319,953.44 $1,246.81 $0.00 $1,809.06 $323,009.31
161 $323,009.31 $1,246.81 $0.00 $1,826.34 $326,082.46
162 $326,082.46 $1,246.81 $0.00 $1,843.72 $329,172.99
163 $329,172.99 $1,246.81 $0.00 $1,861.19 $332,280.99
164 $332,280.99 $1,246.81 $0.00 $1,878.77 $335,406.57
165 $335,406.57 $1,246.81 $0.00 $1,896.44 $338,549.82
166 $338,549.82 $1,246.81 $0.00 $1,914.21 $341,710.84
167 $341,710.84 $1,246.81 $0.00 $1,932.08 $344,889.73
168 $344,889.73 $1,246.81 $0.00 $1,950.06 $348,086.60
169 $348,086.60 $1,246.81 $0.00 $1,968.13 $351,301.54
170 $351,301.54 $1,246.81 $0.00 $1,986.31 $354,534.66
171 $354,534.66 $1,246.81 $0.00 $2,004.59 $357,786.06
172 $357,786.06 $1,246.81 $0.00 $2,022.97 $361,055.84
173 $361,055.84 $1,246.81 $0.00 $2,041.46 $364,344.11
174 $364,344.11 $1,246.81 $0.00 $2,060.05 $367,650.97
175 $367,650.97 $1,246.81 $0.00 $2,078.75 $370,976.53
176 $370,976.53 $1,246.81 $0.00 $2,097.56 $374,320.90
177 $374,320.90 $1,246.81 $0.00 $2,116.46 $377,684.17
178 $377,684.17 $1,246.81 $0.00 $2,135.48 $381,066.46
179 $381,066.46 $1,246.81 $0.00 $2,154.61 $384,467.88
180 $384,467.88 $1,246.81 $0.00 $2,173.84 $387,888.53
181 $387,888.53 $1,246.81 $0.00 $2,193.18 $391,328.52
182 $391,328.52 $1,246.81 $0.00 $2,212.63 $394,787.96
183 $394,787.96 $1,246.81 $0.00 $2,232.19 $398,266.96
184 $398,266.96 $1,246.81 $0.00 $2,251.86 $401,765.63
185 $401,765.63 $1,246.81 $0.00 $2,271.64 $405,284.08
186 $405,284.08 $1,246.81 $0.00 $2,291.54 $408,822.43
187 $408,822.43 $1,246.81 $0.00 $2,311.54 $412,380.78
188 $412,380.78 $1,246.81 $0.00 $2,331.66 $415,959.25
189 $415,959.25 $1,246.81 $0.00 $2,351.89 $419,557.95
190 $419,557.95 $1,246.81 $0.00 $2,372.24 $423,177.00
191 $423,177.00 $1,246.81 $0.00 $2,392.70 $426,816.51
192 $426,816.51 $1,246.81 $0.00 $2,413.28 $430,476.60
193 $430,476.60 $1,246.81 $0.00 $2,433.98 $434,157.39
194 $434,157.39 $1,246.81 $0.00 $2,454.79 $437,858.99
195 $437,858.99 $1,246.81 $0.00 $2,475.72 $441,581.52
196 $441,581.52 $1,246.81 $0.00 $2,496.77 $445,325.10
197 $445,325.10 $1,246.81 $0.00 $2,517.93 $449,089.84
198 $449,089.84 $1,246.81 $0.00 $2,539.22 $452,875.87
199 $452,875.87 $1,246.81 $0.00 $2,560.63 $456,683.31
200 $456,683.31 $1,246.81 $0.00 $2,582.15 $460,512.27
201 $460,512.27 $1,246.81 $0.00 $2,603.80 $464,362.88
202 $464,362.88 $1,246.81 $0.00 $2,625.58 $468,235.27
203 $468,235.27 $1,246.81 $0.00 $2,647.47 $472,129.55
204 $472,129.55 $1,246.81 $0.00 $2,669.49 $476,045.85
205 $476,045.85 $1,246.81 $0.00 $2,691.63 $479,984.29
206 $479,984.29 $1,246.81 $0.00 $2,713.90 $483,945.00
207 $483,945.00 $1,246.81 $0.00 $2,736.30 $487,928.11
208 $487,928.11 $1,246.81 $0.00 $2,758.82 $491,933.74
209 $491,933.74 $1,246.81 $0.00 $2,781.46 $495,962.01
210 $495,962.01 $1,246.81 $0.00 $2,804.24 $500,013.06
211 $500,013.06 $1,246.81 $0.00 $2,827.15 $504,087.02
212 $504,087.02 $1,246.81 $0.00 $2,850.18 $508,184.01
213 $508,184.01 $1,246.81 $0.00 $2,873.35 $512,304.17
214 $512,304.17 $1,246.81 $0.00 $2,896.64 $516,447.62
215 $516,447.62 $1,246.81 $0.00 $2,920.07 $520,614.50
216 $520,614.50 $1,246.81 $0.00 $2,943.63 $524,804.94
217 $524,804.94 $1,246.81 $142,126.15 $2,967.32 $386,892.92
218 $386,892.92 $1,246.81 $0.00 $2,187.55 $390,327.28
219 $390,327.28 $1,246.81 $0.00 $2,206.97 $393,781.06
220 $393,781.06 $1,246.81 $0.00 $2,226.50 $397,254.37
221 $397,254.37 $1,246.81 $0.00 $2,246.13 $400,747.31
222 $400,747.31 $1,246.81 $0.00 $2,265.88 $404,260.00
223 $404,260.00 $1,246.81 $0.00 $2,285.74 $407,792.55
224 $407,792.55 $1,246.81 $0.00 $2,305.72 $411,345.08
225 $411,345.08 $1,246.81 $0.00 $2,325.80 $414,917.69
226 $414,917.69 $1,246.81 $0.00 $2,346.00 $418,510.50
227 $418,510.50 $1,246.81 $0.00 $2,366.32 $422,123.63
228 $422,123.63 $1,246.81 $0.00 $2,386.75 $425,757.19
229 $425,757.19 $1,246.81 $152,074.98 $2,407.29 $277,336.31
230 $277,336.31 $1,246.81 $0.00 $1,568.10 $280,151.22
231 $280,151.22 $1,246.81 $0.00 $1,584.02 $282,982.05
232 $282,982.05 $1,246.81 $0.00 $1,600.02 $285,828.88
233 $285,828.88 $1,246.81 $0.00 $1,616.12 $288,691.81
234 $288,691.81 $1,246.81 $0.00 $1,632.31 $291,570.93
235 $291,570.93 $1,246.81 $0.00 $1,648.58 $294,466.32
236 $294,466.32 $1,246.81 $0.00 $1,664.96 $297,378.09
237 $297,378.09 $1,246.81 $0.00 $1,681.42 $300,306.32
238 $300,306.32 $1,246.81 $0.00 $1,697.98 $303,251.11
239 $303,251.11 $1,246.81 $0.00 $1,714.63 $306,212.55
240 $306,212.55 $1,246.81 $0.00 $1,731.37 $309,190.73
241 $309,190.73 $1,246.81 $162,720.23 $1,748.21 $149,465.52
242 $149,465.52 $1,246.81 $0.00 $845.10 $151,557.43
243 $151,557.43 $1,246.81 $0.00 $856.93 $153,661.17
244 $153,661.17 $1,246.81 $0.00 $868.82 $155,776.80
245 $155,776.80 $1,246.81 $0.00 $880.78 $157,904.39
246 $157,904.39 $1,246.81 $0.00 $892.81 $160,044.01
247 $160,044.01 $1,246.81 $0.00 $904.91 $162,195.73
248 $162,195.73 $1,246.81 $0.00 $917.08 $164,359.62
249 $164,359.62 $1,246.81 $0.00 $929.31 $166,535.74
250 $166,535.74 $1,246.81 $0.00 $941.62 $168,724.17
251 $168,724.17 $1,246.81 $0.00 $953.99 $170,924.97
252 $170,924.97 $1,246.81 $0.00 $966.43 $173,138.21
253 $173,138.21 $0.00 $174,110.65 $978.95 $6.51