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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$131,709
Monthly savings required$1,043

How much will it cost to send your child to Saint Joseph's College of Maine in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $526,836.02 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,042.59 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$50,790.00
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 $1,042.59 $0.00 $0.00 $1,042.59
2 $1,042.59 $1,042.59 $0.00 $5.89 $2,091.07
3 $2,091.07 $1,042.59 $0.00 $11.82 $3,145.48
4 $3,145.48 $1,042.59 $0.00 $17.79 $4,205.86
5 $4,205.86 $1,042.59 $0.00 $23.78 $5,272.23
6 $5,272.23 $1,042.59 $0.00 $29.81 $6,344.63
7 $6,344.63 $1,042.59 $0.00 $35.87 $7,423.09
8 $7,423.09 $1,042.59 $0.00 $41.97 $8,507.65
9 $8,507.65 $1,042.59 $0.00 $48.10 $9,598.34
10 $9,598.34 $1,042.59 $0.00 $54.27 $10,695.20
11 $10,695.20 $1,042.59 $0.00 $60.47 $11,798.26
12 $11,798.26 $1,042.59 $0.00 $66.71 $12,907.56
13 $12,907.56 $1,042.59 $0.00 $72.98 $14,023.13
14 $14,023.13 $1,042.59 $0.00 $79.29 $15,145.01
15 $15,145.01 $1,042.59 $0.00 $85.63 $16,273.23
16 $16,273.23 $1,042.59 $0.00 $92.01 $17,407.83
17 $17,407.83 $1,042.59 $0.00 $98.43 $18,548.85
18 $18,548.85 $1,042.59 $0.00 $104.88 $19,696.32
19 $19,696.32 $1,042.59 $0.00 $111.37 $20,850.28
20 $20,850.28 $1,042.59 $0.00 $117.89 $22,010.76
21 $22,010.76 $1,042.59 $0.00 $124.45 $23,177.80
22 $23,177.80 $1,042.59 $0.00 $131.05 $24,351.44
23 $24,351.44 $1,042.59 $0.00 $137.69 $25,531.72
24 $25,531.72 $1,042.59 $0.00 $144.36 $26,718.67
25 $26,718.67 $1,042.59 $0.00 $151.07 $27,912.33
26 $27,912.33 $1,042.59 $0.00 $157.82 $29,112.74
27 $29,112.74 $1,042.59 $0.00 $164.61 $30,319.94
28 $30,319.94 $1,042.59 $0.00 $171.43 $31,533.96
29 $31,533.96 $1,042.59 $0.00 $178.30 $32,754.85
30 $32,754.85 $1,042.59 $0.00 $185.20 $33,982.64
31 $33,982.64 $1,042.59 $0.00 $192.14 $35,217.37
32 $35,217.37 $1,042.59 $0.00 $199.12 $36,459.08
33 $36,459.08 $1,042.59 $0.00 $206.14 $37,707.81
34 $37,707.81 $1,042.59 $0.00 $213.21 $38,963.61
35 $38,963.61 $1,042.59 $0.00 $220.31 $40,226.51
36 $40,226.51 $1,042.59 $0.00 $227.45 $41,496.55
37 $41,496.55 $1,042.59 $0.00 $234.63 $42,773.77
38 $42,773.77 $1,042.59 $0.00 $241.85 $44,058.21
39 $44,058.21 $1,042.59 $0.00 $249.11 $45,349.91
40 $45,349.91 $1,042.59 $0.00 $256.41 $46,648.91
41 $46,648.91 $1,042.59 $0.00 $263.76 $47,955.26
42 $47,955.26 $1,042.59 $0.00 $271.15 $49,269.00
43 $49,269.00 $1,042.59 $0.00 $278.57 $50,590.16
44 $50,590.16 $1,042.59 $0.00 $286.04 $51,918.79
45 $51,918.79 $1,042.59 $0.00 $293.56 $53,254.94
46 $53,254.94 $1,042.59 $0.00 $301.11 $54,598.64
47 $54,598.64 $1,042.59 $0.00 $308.71 $55,949.94
48 $55,949.94 $1,042.59 $0.00 $316.35 $57,308.88
49 $57,308.88 $1,042.59 $0.00 $324.03 $58,675.50
50 $58,675.50 $1,042.59 $0.00 $331.76 $60,049.85
51 $60,049.85 $1,042.59 $0.00 $339.53 $61,431.97
52 $61,431.97 $1,042.59 $0.00 $347.35 $62,821.91
53 $62,821.91 $1,042.59 $0.00 $355.20 $64,219.70
54 $64,219.70 $1,042.59 $0.00 $363.11 $65,625.40
55 $65,625.40 $1,042.59 $0.00 $371.06 $67,039.05
56 $67,039.05 $1,042.59 $0.00 $379.05 $68,460.69
57 $68,460.69 $1,042.59 $0.00 $387.09 $69,890.37
58 $69,890.37 $1,042.59 $0.00 $395.17 $71,328.13
59 $71,328.13 $1,042.59 $0.00 $403.30 $72,774.02
60 $72,774.02 $1,042.59 $0.00 $411.47 $74,228.08
61 $74,228.08 $1,042.59 $0.00 $419.70 $75,690.37
62 $75,690.37 $1,042.59 $0.00 $427.96 $77,160.92
63 $77,160.92 $1,042.59 $0.00 $436.28 $78,639.79
64 $78,639.79 $1,042.59 $0.00 $444.64 $80,127.02
65 $80,127.02 $1,042.59 $0.00 $453.05 $81,622.66
66 $81,622.66 $1,042.59 $0.00 $461.51 $83,126.76
67 $83,126.76 $1,042.59 $0.00 $470.01 $84,639.36
68 $84,639.36 $1,042.59 $0.00 $478.56 $86,160.51
69 $86,160.51 $1,042.59 $0.00 $487.16 $87,690.26
70 $87,690.26 $1,042.59 $0.00 $495.81 $89,228.66
71 $89,228.66 $1,042.59 $0.00 $504.51 $90,775.76
72 $90,775.76 $1,042.59 $0.00 $513.26 $92,331.61
73 $92,331.61 $1,042.59 $0.00 $522.06 $93,896.26
74 $93,896.26 $1,042.59 $0.00 $530.90 $95,469.75
75 $95,469.75 $1,042.59 $0.00 $539.80 $97,052.14
76 $97,052.14 $1,042.59 $0.00 $548.75 $98,643.48
77 $98,643.48 $1,042.59 $0.00 $557.74 $100,243.81
78 $100,243.81 $1,042.59 $0.00 $566.79 $101,853.19
79 $101,853.19 $1,042.59 $0.00 $575.89 $103,471.67
80 $103,471.67 $1,042.59 $0.00 $585.04 $105,099.30
81 $105,099.30 $1,042.59 $0.00 $594.25 $106,736.14
82 $106,736.14 $1,042.59 $0.00 $603.50 $108,382.23
83 $108,382.23 $1,042.59 $0.00 $612.81 $110,037.63
84 $110,037.63 $1,042.59 $0.00 $622.17 $111,702.39
85 $111,702.39 $1,042.59 $0.00 $631.58 $113,376.56
86 $113,376.56 $1,042.59 $0.00 $641.05 $115,060.20
87 $115,060.20 $1,042.59 $0.00 $650.57 $116,753.36
88 $116,753.36 $1,042.59 $0.00 $660.14 $118,456.09
89 $118,456.09 $1,042.59 $0.00 $669.77 $120,168.45
90 $120,168.45 $1,042.59 $0.00 $679.45 $121,890.49
91 $121,890.49 $1,042.59 $0.00 $689.19 $123,622.27
92 $123,622.27 $1,042.59 $0.00 $698.98 $125,363.84
93 $125,363.84 $1,042.59 $0.00 $708.83 $127,115.26
94 $127,115.26 $1,042.59 $0.00 $718.73 $128,876.58
95 $128,876.58 $1,042.59 $0.00 $728.69 $130,647.86
96 $130,647.86 $1,042.59 $0.00 $738.70 $132,429.15
97 $132,429.15 $1,042.59 $0.00 $748.77 $134,220.51
98 $134,220.51 $1,042.59 $0.00 $758.90 $136,022.00
99 $136,022.00 $1,042.59 $0.00 $769.09 $137,833.68
100 $137,833.68 $1,042.59 $0.00 $779.33 $139,655.60
101 $139,655.60 $1,042.59 $0.00 $789.63 $141,487.82
102 $141,487.82 $1,042.59 $0.00 $799.99 $143,330.40
103 $143,330.40 $1,042.59 $0.00 $810.41 $145,183.40
104 $145,183.40 $1,042.59 $0.00 $820.89 $147,046.88
105 $147,046.88 $1,042.59 $0.00 $831.42 $148,920.89
106 $148,920.89 $1,042.59 $0.00 $842.02 $150,805.50
107 $150,805.50 $1,042.59 $0.00 $852.68 $152,700.77
108 $152,700.77 $1,042.59 $0.00 $863.39 $154,606.75
109 $154,606.75 $1,042.59 $0.00 $874.17 $156,523.51
110 $156,523.51 $1,042.59 $0.00 $885.01 $158,451.11
111 $158,451.11 $1,042.59 $0.00 $895.91 $160,389.61
112 $160,389.61 $1,042.59 $0.00 $906.87 $162,339.07
113 $162,339.07 $1,042.59 $0.00 $917.89 $164,299.55
114 $164,299.55 $1,042.59 $0.00 $928.97 $166,271.11
115 $166,271.11 $1,042.59 $0.00 $940.12 $168,253.82
116 $168,253.82 $1,042.59 $0.00 $951.33 $170,247.74
117 $170,247.74 $1,042.59 $0.00 $962.61 $172,252.94
118 $172,252.94 $1,042.59 $0.00 $973.94 $174,269.47
119 $174,269.47 $1,042.59 $0.00 $985.34 $176,297.40
120 $176,297.40 $1,042.59 $0.00 $996.81 $178,336.80
121 $178,336.80 $1,042.59 $0.00 $1,008.34 $180,387.73
122 $180,387.73 $1,042.59 $0.00 $1,019.94 $182,450.26
123 $182,450.26 $1,042.59 $0.00 $1,031.60 $184,524.45
124 $184,524.45 $1,042.59 $0.00 $1,043.33 $186,610.37
125 $186,610.37 $1,042.59 $0.00 $1,055.12 $188,708.08
126 $188,708.08 $1,042.59 $0.00 $1,066.98 $190,817.65
127 $190,817.65 $1,042.59 $0.00 $1,078.91 $192,939.15
128 $192,939.15 $1,042.59 $0.00 $1,090.91 $195,072.65
129 $195,072.65 $1,042.59 $0.00 $1,102.97 $197,218.21
130 $197,218.21 $1,042.59 $0.00 $1,115.10 $199,375.90
131 $199,375.90 $1,042.59 $0.00 $1,127.30 $201,545.79
132 $201,545.79 $1,042.59 $0.00 $1,139.57 $203,727.95
133 $203,727.95 $1,042.59 $0.00 $1,151.91 $205,922.45
134 $205,922.45 $1,042.59 $0.00 $1,164.32 $208,129.36
135 $208,129.36 $1,042.59 $0.00 $1,176.79 $210,348.74
136 $210,348.74 $1,042.59 $0.00 $1,189.34 $212,580.67
137 $212,580.67 $1,042.59 $0.00 $1,201.96 $214,825.22
138 $214,825.22 $1,042.59 $0.00 $1,214.65 $217,082.46
139 $217,082.46 $1,042.59 $0.00 $1,227.42 $219,352.47
140 $219,352.47 $1,042.59 $0.00 $1,240.25 $221,635.31
141 $221,635.31 $1,042.59 $0.00 $1,253.16 $223,931.06
142 $223,931.06 $1,042.59 $0.00 $1,266.14 $226,239.79
143 $226,239.79 $1,042.59 $0.00 $1,279.19 $228,561.57
144 $228,561.57 $1,042.59 $0.00 $1,292.32 $230,896.48
145 $230,896.48 $1,042.59 $0.00 $1,305.52 $233,244.59
146 $233,244.59 $1,042.59 $0.00 $1,318.80 $235,605.98
147 $235,605.98 $1,042.59 $0.00 $1,332.15 $237,980.72
148 $237,980.72 $1,042.59 $0.00 $1,345.58 $240,368.89
149 $240,368.89 $1,042.59 $0.00 $1,359.08 $242,770.56
150 $242,770.56 $1,042.59 $0.00 $1,372.66 $245,185.81
151 $245,185.81 $1,042.59 $0.00 $1,386.32 $247,614.72
152 $247,614.72 $1,042.59 $0.00 $1,400.05 $250,057.36
153 $250,057.36 $1,042.59 $0.00 $1,413.86 $252,513.81
154 $252,513.81 $1,042.59 $0.00 $1,427.75 $254,984.15
155 $254,984.15 $1,042.59 $0.00 $1,441.72 $257,468.46
156 $257,468.46 $1,042.59 $0.00 $1,455.76 $259,966.81
157 $259,966.81 $1,042.59 $0.00 $1,469.89 $262,479.29
158 $262,479.29 $1,042.59 $0.00 $1,484.10 $265,005.98
159 $265,005.98 $1,042.59 $0.00 $1,498.38 $267,546.95
160 $267,546.95 $1,042.59 $0.00 $1,512.75 $270,102.29
161 $270,102.29 $1,042.59 $0.00 $1,527.20 $272,672.08
162 $272,672.08 $1,042.59 $0.00 $1,541.73 $275,256.40
163 $275,256.40 $1,042.59 $0.00 $1,556.34 $277,855.33
164 $277,855.33 $1,042.59 $0.00 $1,571.03 $280,468.95
165 $280,468.95 $1,042.59 $0.00 $1,585.81 $283,097.35
166 $283,097.35 $1,042.59 $0.00 $1,600.67 $285,740.61
167 $285,740.61 $1,042.59 $0.00 $1,615.62 $288,398.82
168 $288,398.82 $1,042.59 $0.00 $1,630.65 $291,072.06
169 $291,072.06 $1,042.59 $0.00 $1,645.76 $293,760.41
170 $293,760.41 $1,042.59 $0.00 $1,660.96 $296,463.96
171 $296,463.96 $1,042.59 $0.00 $1,676.25 $299,182.80
172 $299,182.80 $1,042.59 $0.00 $1,691.62 $301,917.01
173 $301,917.01 $1,042.59 $0.00 $1,707.08 $304,666.68
174 $304,666.68 $1,042.59 $0.00 $1,722.63 $307,431.90
175 $307,431.90 $1,042.59 $0.00 $1,738.26 $310,212.75
176 $310,212.75 $1,042.59 $0.00 $1,753.99 $313,009.33
177 $313,009.33 $1,042.59 $0.00 $1,769.80 $315,821.72
178 $315,821.72 $1,042.59 $0.00 $1,785.70 $318,650.01
179 $318,650.01 $1,042.59 $0.00 $1,801.69 $321,494.29
180 $321,494.29 $1,042.59 $0.00 $1,817.78 $324,354.66
181 $324,354.66 $1,042.59 $0.00 $1,833.95 $327,231.20
182 $327,231.20 $1,042.59 $0.00 $1,850.21 $330,124.00
183 $330,124.00 $1,042.59 $0.00 $1,866.57 $333,033.16
184 $333,033.16 $1,042.59 $0.00 $1,883.02 $335,958.77
185 $335,958.77 $1,042.59 $0.00 $1,899.56 $338,900.92
186 $338,900.92 $1,042.59 $0.00 $1,916.20 $341,859.71
187 $341,859.71 $1,042.59 $0.00 $1,932.92 $344,835.22
188 $344,835.22 $1,042.59 $0.00 $1,949.75 $347,827.56
189 $347,827.56 $1,042.59 $0.00 $1,966.67 $350,836.82
190 $350,836.82 $1,042.59 $0.00 $1,983.68 $353,863.09
191 $353,863.09 $1,042.59 $0.00 $2,000.79 $356,906.47
192 $356,906.47 $1,042.59 $0.00 $2,018.00 $359,967.06
193 $359,967.06 $1,042.59 $0.00 $2,035.31 $363,044.96
194 $363,044.96 $1,042.59 $0.00 $2,052.71 $366,140.26
195 $366,140.26 $1,042.59 $0.00 $2,070.21 $369,253.06
196 $369,253.06 $1,042.59 $0.00 $2,087.81 $372,383.46
197 $372,383.46 $1,042.59 $0.00 $2,105.51 $375,531.56
198 $375,531.56 $1,042.59 $0.00 $2,123.31 $378,697.46
199 $378,697.46 $1,042.59 $0.00 $2,141.21 $381,881.26
200 $381,881.26 $1,042.59 $0.00 $2,159.21 $385,083.06
201 $385,083.06 $1,042.59 $0.00 $2,177.32 $388,302.97
202 $388,302.97 $1,042.59 $0.00 $2,195.52 $391,541.08
203 $391,541.08 $1,042.59 $0.00 $2,213.83 $394,797.50
204 $394,797.50 $1,042.59 $0.00 $2,232.24 $398,072.33
205 $398,072.33 $1,042.59 $0.00 $2,250.76 $401,365.68
206 $401,365.68 $1,042.59 $0.00 $2,269.38 $404,677.65
207 $404,677.65 $1,042.59 $0.00 $2,288.11 $408,008.35
208 $408,008.35 $1,042.59 $0.00 $2,306.94 $411,357.88
209 $411,357.88 $1,042.59 $0.00 $2,325.88 $414,726.35
210 $414,726.35 $1,042.59 $0.00 $2,344.92 $418,113.86
211 $418,113.86 $1,042.59 $0.00 $2,364.08 $421,520.53
212 $421,520.53 $1,042.59 $0.00 $2,383.34 $424,946.46
213 $424,946.46 $1,042.59 $0.00 $2,402.71 $428,391.76
214 $428,391.76 $1,042.59 $0.00 $2,422.19 $431,856.54
215 $431,856.54 $1,042.59 $0.00 $2,441.78 $435,340.91
216 $435,340.91 $1,042.59 $0.00 $2,461.48 $438,844.98
217 $438,844.98 $1,042.59 $122,232.19 $2,481.29 $320,136.67
218 $320,136.67 $1,042.59 $0.00 $1,810.10 $322,989.36
219 $322,989.36 $1,042.59 $0.00 $1,826.23 $325,858.18
220 $325,858.18 $1,042.59 $0.00 $1,842.45 $328,743.22
221 $328,743.22 $1,042.59 $0.00 $1,858.76 $331,644.57
222 $331,644.57 $1,042.59 $0.00 $1,875.17 $334,562.33
223 $334,562.33 $1,042.59 $0.00 $1,891.66 $337,496.58
224 $337,496.58 $1,042.59 $0.00 $1,908.25 $340,447.42
225 $340,447.42 $1,042.59 $0.00 $1,924.94 $343,414.95
226 $343,414.95 $1,042.59 $0.00 $1,941.72 $346,399.26
227 $346,399.26 $1,042.59 $0.00 $1,958.59 $349,400.44
228 $349,400.44 $1,042.59 $0.00 $1,975.56 $352,418.59
229 $352,418.59 $1,042.59 $128,343.80 $1,992.63 $227,110.01
230 $227,110.01 $1,042.59 $0.00 $1,284.11 $229,436.71
231 $229,436.71 $1,042.59 $0.00 $1,297.27 $231,776.57
232 $231,776.57 $1,042.59 $0.00 $1,310.50 $234,129.66
233 $234,129.66 $1,042.59 $0.00 $1,323.80 $236,496.05
234 $236,496.05 $1,042.59 $0.00 $1,337.18 $238,875.82
235 $238,875.82 $1,042.59 $0.00 $1,350.64 $241,269.05
236 $241,269.05 $1,042.59 $0.00 $1,364.17 $243,675.81
237 $243,675.81 $1,042.59 $0.00 $1,377.78 $246,096.18
238 $246,096.18 $1,042.59 $0.00 $1,391.46 $248,530.23
239 $248,530.23 $1,042.59 $0.00 $1,405.23 $250,978.05
240 $250,978.05 $1,042.59 $0.00 $1,419.07 $253,439.71
241 $253,439.71 $1,042.59 $134,760.99 $1,432.98 $121,154.29
242 $121,154.29 $1,042.59 $0.00 $685.02 $122,881.90
243 $122,881.90 $1,042.59 $0.00 $694.79 $124,619.28
244 $124,619.28 $1,042.59 $0.00 $704.62 $126,366.49
245 $126,366.49 $1,042.59 $0.00 $714.49 $128,123.57
246 $128,123.57 $1,042.59 $0.00 $724.43 $129,890.59
247 $129,890.59 $1,042.59 $0.00 $734.42 $131,667.60
248 $131,667.60 $1,042.59 $0.00 $744.47 $133,454.66
249 $133,454.66 $1,042.59 $0.00 $754.57 $135,251.82
250 $135,251.82 $1,042.59 $0.00 $764.73 $137,059.14
251 $137,059.14 $1,042.59 $0.00 $774.95 $138,876.68
252 $138,876.68 $1,042.59 $0.00 $785.23 $140,704.50
253 $140,704.50 $0.00 $141,499.04 $795.56 $1.02