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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$135,443
Monthly savings required$1,072

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 $541,772.90 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,072.15 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$52,230.00
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 $1,072.15 $0.00 $0.00 $1,072.15
2 $1,072.15 $1,072.15 $0.00 $6.06 $2,150.36
3 $2,150.36 $1,072.15 $0.00 $12.16 $3,234.67
4 $3,234.67 $1,072.15 $0.00 $18.29 $4,325.11
5 $4,325.11 $1,072.15 $0.00 $24.45 $5,421.71
6 $5,421.71 $1,072.15 $0.00 $30.66 $6,524.52
7 $6,524.52 $1,072.15 $0.00 $36.89 $7,633.56
8 $7,633.56 $1,072.15 $0.00 $43.16 $8,748.87
9 $8,748.87 $1,072.15 $0.00 $49.47 $9,870.49
10 $9,870.49 $1,072.15 $0.00 $55.81 $10,998.45
11 $10,998.45 $1,072.15 $0.00 $62.19 $12,132.79
12 $12,132.79 $1,072.15 $0.00 $68.60 $13,273.54
13 $13,273.54 $1,072.15 $0.00 $75.05 $14,420.74
14 $14,420.74 $1,072.15 $0.00 $81.54 $15,574.43
15 $15,574.43 $1,072.15 $0.00 $88.06 $16,734.64
16 $16,734.64 $1,072.15 $0.00 $94.62 $17,901.41
17 $17,901.41 $1,072.15 $0.00 $101.22 $19,074.78
18 $19,074.78 $1,072.15 $0.00 $107.85 $20,254.78
19 $20,254.78 $1,072.15 $0.00 $114.52 $21,441.45
20 $21,441.45 $1,072.15 $0.00 $121.23 $22,634.83
21 $22,634.83 $1,072.15 $0.00 $127.98 $23,834.96
22 $23,834.96 $1,072.15 $0.00 $134.77 $25,041.88
23 $25,041.88 $1,072.15 $0.00 $141.59 $26,255.62
24 $26,255.62 $1,072.15 $0.00 $148.45 $27,476.22
25 $27,476.22 $1,072.15 $0.00 $155.35 $28,703.72
26 $28,703.72 $1,072.15 $0.00 $162.30 $29,938.17
27 $29,938.17 $1,072.15 $0.00 $169.27 $31,179.59
28 $31,179.59 $1,072.15 $0.00 $176.29 $32,428.03
29 $32,428.03 $1,072.15 $0.00 $183.35 $33,683.53
30 $33,683.53 $1,072.15 $0.00 $190.45 $34,946.13
31 $34,946.13 $1,072.15 $0.00 $197.59 $36,215.87
32 $36,215.87 $1,072.15 $0.00 $204.77 $37,492.79
33 $37,492.79 $1,072.15 $0.00 $211.99 $38,776.93
34 $38,776.93 $1,072.15 $0.00 $219.25 $40,068.33
35 $40,068.33 $1,072.15 $0.00 $226.55 $41,367.03
36 $41,367.03 $1,072.15 $0.00 $233.90 $42,673.08
37 $42,673.08 $1,072.15 $0.00 $241.28 $43,986.51
38 $43,986.51 $1,072.15 $0.00 $248.71 $45,307.37
39 $45,307.37 $1,072.15 $0.00 $256.17 $46,635.69
40 $46,635.69 $1,072.15 $0.00 $263.68 $47,971.52
41 $47,971.52 $1,072.15 $0.00 $271.24 $49,314.91
42 $49,314.91 $1,072.15 $0.00 $278.83 $50,665.89
43 $50,665.89 $1,072.15 $0.00 $286.47 $52,024.51
44 $52,024.51 $1,072.15 $0.00 $294.15 $53,390.81
45 $53,390.81 $1,072.15 $0.00 $301.88 $54,764.84
46 $54,764.84 $1,072.15 $0.00 $309.65 $56,146.64
47 $56,146.64 $1,072.15 $0.00 $317.46 $57,536.25
48 $57,536.25 $1,072.15 $0.00 $325.32 $58,933.72
49 $58,933.72 $1,072.15 $0.00 $333.22 $60,339.09
50 $60,339.09 $1,072.15 $0.00 $341.17 $61,752.41
51 $61,752.41 $1,072.15 $0.00 $349.16 $63,173.72
52 $63,173.72 $1,072.15 $0.00 $357.19 $64,603.06
53 $64,603.06 $1,072.15 $0.00 $365.28 $66,040.49
54 $66,040.49 $1,072.15 $0.00 $373.40 $67,486.04
55 $67,486.04 $1,072.15 $0.00 $381.58 $68,939.77
56 $68,939.77 $1,072.15 $0.00 $389.80 $70,401.72
57 $70,401.72 $1,072.15 $0.00 $398.06 $71,871.93
58 $71,871.93 $1,072.15 $0.00 $406.37 $73,350.45
59 $73,350.45 $1,072.15 $0.00 $414.73 $74,837.33
60 $74,837.33 $1,072.15 $0.00 $423.14 $76,332.62
61 $76,332.62 $1,072.15 $0.00 $431.60 $77,836.37
62 $77,836.37 $1,072.15 $0.00 $440.10 $79,348.62
63 $79,348.62 $1,072.15 $0.00 $448.65 $80,869.42
64 $80,869.42 $1,072.15 $0.00 $457.25 $82,398.82
65 $82,398.82 $1,072.15 $0.00 $465.89 $83,936.86
66 $83,936.86 $1,072.15 $0.00 $474.59 $85,483.60
67 $85,483.60 $1,072.15 $0.00 $483.34 $87,039.09
68 $87,039.09 $1,072.15 $0.00 $492.13 $88,603.37
69 $88,603.37 $1,072.15 $0.00 $500.98 $90,176.50
70 $90,176.50 $1,072.15 $0.00 $509.87 $91,758.52
71 $91,758.52 $1,072.15 $0.00 $518.82 $93,349.49
72 $93,349.49 $1,072.15 $0.00 $527.81 $94,949.45
73 $94,949.45 $1,072.15 $0.00 $536.86 $96,558.46
74 $96,558.46 $1,072.15 $0.00 $545.96 $98,176.57
75 $98,176.57 $1,072.15 $0.00 $555.10 $99,803.82
76 $99,803.82 $1,072.15 $0.00 $564.31 $101,440.28
77 $101,440.28 $1,072.15 $0.00 $573.56 $103,085.99
78 $103,085.99 $1,072.15 $0.00 $582.86 $104,741.00
79 $104,741.00 $1,072.15 $0.00 $592.22 $106,405.37
80 $106,405.37 $1,072.15 $0.00 $601.63 $108,079.15
81 $108,079.15 $1,072.15 $0.00 $611.10 $109,762.40
82 $109,762.40 $1,072.15 $0.00 $620.61 $111,455.16
83 $111,455.16 $1,072.15 $0.00 $630.18 $113,157.49
84 $113,157.49 $1,072.15 $0.00 $639.81 $114,869.45
85 $114,869.45 $1,072.15 $0.00 $649.49 $116,591.09
86 $116,591.09 $1,072.15 $0.00 $659.22 $118,322.46
87 $118,322.46 $1,072.15 $0.00 $669.01 $120,063.62
88 $120,063.62 $1,072.15 $0.00 $678.86 $121,814.63
89 $121,814.63 $1,072.15 $0.00 $688.76 $123,575.54
90 $123,575.54 $1,072.15 $0.00 $698.71 $125,346.40
91 $125,346.40 $1,072.15 $0.00 $708.73 $127,127.28
92 $127,127.28 $1,072.15 $0.00 $718.80 $128,918.23
93 $128,918.23 $1,072.15 $0.00 $728.92 $130,719.30
94 $130,719.30 $1,072.15 $0.00 $739.11 $132,530.56
95 $132,530.56 $1,072.15 $0.00 $749.35 $134,352.06
96 $134,352.06 $1,072.15 $0.00 $759.65 $136,183.86
97 $136,183.86 $1,072.15 $0.00 $770.00 $138,026.01
98 $138,026.01 $1,072.15 $0.00 $780.42 $139,878.58
99 $139,878.58 $1,072.15 $0.00 $790.89 $141,741.62
100 $141,741.62 $1,072.15 $0.00 $801.43 $143,615.20
101 $143,615.20 $1,072.15 $0.00 $812.02 $145,499.37
102 $145,499.37 $1,072.15 $0.00 $822.67 $147,394.19
103 $147,394.19 $1,072.15 $0.00 $833.39 $149,299.73
104 $149,299.73 $1,072.15 $0.00 $844.16 $151,216.04
105 $151,216.04 $1,072.15 $0.00 $855.00 $153,143.19
106 $153,143.19 $1,072.15 $0.00 $865.89 $155,081.23
107 $155,081.23 $1,072.15 $0.00 $876.85 $157,030.23
108 $157,030.23 $1,072.15 $0.00 $887.87 $158,990.25
109 $158,990.25 $1,072.15 $0.00 $898.95 $160,961.35
110 $160,961.35 $1,072.15 $0.00 $910.10 $162,943.60
111 $162,943.60 $1,072.15 $0.00 $921.31 $164,937.06
112 $164,937.06 $1,072.15 $0.00 $932.58 $166,941.79
113 $166,941.79 $1,072.15 $0.00 $943.91 $168,957.85
114 $168,957.85 $1,072.15 $0.00 $955.31 $170,985.31
115 $170,985.31 $1,072.15 $0.00 $966.78 $173,024.24
116 $173,024.24 $1,072.15 $0.00 $978.30 $175,074.69
117 $175,074.69 $1,072.15 $0.00 $989.90 $177,136.74
118 $177,136.74 $1,072.15 $0.00 $1,001.56 $179,210.45
119 $179,210.45 $1,072.15 $0.00 $1,013.28 $181,295.88
120 $181,295.88 $1,072.15 $0.00 $1,025.07 $183,393.10
121 $183,393.10 $1,072.15 $0.00 $1,036.93 $185,502.18
122 $185,502.18 $1,072.15 $0.00 $1,048.86 $187,623.19
123 $187,623.19 $1,072.15 $0.00 $1,060.85 $189,756.19
124 $189,756.19 $1,072.15 $0.00 $1,072.91 $191,901.25
125 $191,901.25 $1,072.15 $0.00 $1,085.04 $194,058.44
126 $194,058.44 $1,072.15 $0.00 $1,097.23 $196,227.82
127 $196,227.82 $1,072.15 $0.00 $1,109.50 $198,409.47
128 $198,409.47 $1,072.15 $0.00 $1,121.84 $200,603.46
129 $200,603.46 $1,072.15 $0.00 $1,134.24 $202,809.85
130 $202,809.85 $1,072.15 $0.00 $1,146.72 $205,028.72
131 $205,028.72 $1,072.15 $0.00 $1,159.26 $207,260.13
132 $207,260.13 $1,072.15 $0.00 $1,171.88 $209,504.16
133 $209,504.16 $1,072.15 $0.00 $1,184.57 $211,760.88
134 $211,760.88 $1,072.15 $0.00 $1,197.33 $214,030.36
135 $214,030.36 $1,072.15 $0.00 $1,210.16 $216,312.67
136 $216,312.67 $1,072.15 $0.00 $1,223.06 $218,607.88
137 $218,607.88 $1,072.15 $0.00 $1,236.04 $220,916.07
138 $220,916.07 $1,072.15 $0.00 $1,249.09 $223,237.31
139 $223,237.31 $1,072.15 $0.00 $1,262.22 $225,571.68
140 $225,571.68 $1,072.15 $0.00 $1,275.42 $227,919.25
141 $227,919.25 $1,072.15 $0.00 $1,288.69 $230,280.09
142 $230,280.09 $1,072.15 $0.00 $1,302.04 $232,654.28
143 $232,654.28 $1,072.15 $0.00 $1,315.46 $235,041.89
144 $235,041.89 $1,072.15 $0.00 $1,328.96 $237,443.00
145 $237,443.00 $1,072.15 $0.00 $1,342.54 $239,857.69
146 $239,857.69 $1,072.15 $0.00 $1,356.19 $242,286.03
147 $242,286.03 $1,072.15 $0.00 $1,369.92 $244,728.10
148 $244,728.10 $1,072.15 $0.00 $1,383.73 $247,183.98
149 $247,183.98 $1,072.15 $0.00 $1,397.61 $249,653.74
150 $249,653.74 $1,072.15 $0.00 $1,411.58 $252,137.47
151 $252,137.47 $1,072.15 $0.00 $1,425.62 $254,635.24
152 $254,635.24 $1,072.15 $0.00 $1,439.74 $257,147.13
153 $257,147.13 $1,072.15 $0.00 $1,453.95 $259,673.23
154 $259,673.23 $1,072.15 $0.00 $1,468.23 $262,213.61
155 $262,213.61 $1,072.15 $0.00 $1,482.59 $264,768.35
156 $264,768.35 $1,072.15 $0.00 $1,497.04 $267,337.54
157 $267,337.54 $1,072.15 $0.00 $1,511.57 $269,921.26
158 $269,921.26 $1,072.15 $0.00 $1,526.17 $272,519.58
159 $272,519.58 $1,072.15 $0.00 $1,540.87 $275,132.60
160 $275,132.60 $1,072.15 $0.00 $1,555.64 $277,760.39
161 $277,760.39 $1,072.15 $0.00 $1,570.50 $280,403.04
162 $280,403.04 $1,072.15 $0.00 $1,585.44 $283,060.63
163 $283,060.63 $1,072.15 $0.00 $1,600.47 $285,733.25
164 $285,733.25 $1,072.15 $0.00 $1,615.58 $288,420.98
165 $288,420.98 $1,072.15 $0.00 $1,630.77 $291,123.90
166 $291,123.90 $1,072.15 $0.00 $1,646.06 $293,842.11
167 $293,842.11 $1,072.15 $0.00 $1,661.43 $296,575.69
168 $296,575.69 $1,072.15 $0.00 $1,676.88 $299,324.72
169 $299,324.72 $1,072.15 $0.00 $1,692.43 $302,089.30
170 $302,089.30 $1,072.15 $0.00 $1,708.06 $304,869.51
171 $304,869.51 $1,072.15 $0.00 $1,723.78 $307,665.44
172 $307,665.44 $1,072.15 $0.00 $1,739.59 $310,477.18
173 $310,477.18 $1,072.15 $0.00 $1,755.48 $313,304.81
174 $313,304.81 $1,072.15 $0.00 $1,771.47 $316,148.43
175 $316,148.43 $1,072.15 $0.00 $1,787.55 $319,008.13
176 $319,008.13 $1,072.15 $0.00 $1,803.72 $321,884.00
177 $321,884.00 $1,072.15 $0.00 $1,819.98 $324,776.13
178 $324,776.13 $1,072.15 $0.00 $1,836.33 $327,684.61
179 $327,684.61 $1,072.15 $0.00 $1,852.78 $330,609.54
180 $330,609.54 $1,072.15 $0.00 $1,869.31 $333,551.00
181 $333,551.00 $1,072.15 $0.00 $1,885.95 $336,509.10
182 $336,509.10 $1,072.15 $0.00 $1,902.67 $339,483.92
183 $339,483.92 $1,072.15 $0.00 $1,919.49 $342,475.56
184 $342,475.56 $1,072.15 $0.00 $1,936.41 $345,484.12
185 $345,484.12 $1,072.15 $0.00 $1,953.42 $348,509.69
186 $348,509.69 $1,072.15 $0.00 $1,970.52 $351,552.36
187 $351,552.36 $1,072.15 $0.00 $1,987.73 $354,612.24
188 $354,612.24 $1,072.15 $0.00 $2,005.03 $357,689.42
189 $357,689.42 $1,072.15 $0.00 $2,022.43 $360,784.00
190 $360,784.00 $1,072.15 $0.00 $2,039.93 $363,896.08
191 $363,896.08 $1,072.15 $0.00 $2,057.52 $367,025.75
192 $367,025.75 $1,072.15 $0.00 $2,075.22 $370,173.12
193 $370,173.12 $1,072.15 $0.00 $2,093.01 $373,338.28
194 $373,338.28 $1,072.15 $0.00 $2,110.91 $376,521.34
195 $376,521.34 $1,072.15 $0.00 $2,128.91 $379,722.40
196 $379,722.40 $1,072.15 $0.00 $2,147.01 $382,941.56
197 $382,941.56 $1,072.15 $0.00 $2,165.21 $386,178.92
198 $386,178.92 $1,072.15 $0.00 $2,183.51 $389,434.58
199 $389,434.58 $1,072.15 $0.00 $2,201.92 $392,708.65
200 $392,708.65 $1,072.15 $0.00 $2,220.43 $396,001.23
201 $396,001.23 $1,072.15 $0.00 $2,239.05 $399,312.43
202 $399,312.43 $1,072.15 $0.00 $2,257.77 $402,642.35
203 $402,642.35 $1,072.15 $0.00 $2,276.60 $405,991.10
204 $405,991.10 $1,072.15 $0.00 $2,295.53 $409,358.78
205 $409,358.78 $1,072.15 $0.00 $2,314.57 $412,745.50
206 $412,745.50 $1,072.15 $0.00 $2,333.72 $416,151.37
207 $416,151.37 $1,072.15 $0.00 $2,352.98 $419,576.50
208 $419,576.50 $1,072.15 $0.00 $2,372.35 $423,021.00
209 $423,021.00 $1,072.15 $0.00 $2,391.82 $426,484.97
210 $426,484.97 $1,072.15 $0.00 $2,411.41 $429,968.53
211 $429,968.53 $1,072.15 $0.00 $2,431.10 $433,471.78
212 $433,471.78 $1,072.15 $0.00 $2,450.91 $436,994.84
213 $436,994.84 $1,072.15 $0.00 $2,470.83 $440,537.82
214 $440,537.82 $1,072.15 $0.00 $2,490.86 $444,100.83
215 $444,100.83 $1,072.15 $0.00 $2,511.01 $447,683.99
216 $447,683.99 $1,072.15 $0.00 $2,531.27 $451,287.41
217 $451,287.41 $1,072.15 $125,697.72 $2,551.64 $329,213.48
218 $329,213.48 $1,072.15 $0.00 $1,861.42 $332,147.05
219 $332,147.05 $1,072.15 $0.00 $1,878.01 $335,097.21
220 $335,097.21 $1,072.15 $0.00 $1,894.69 $338,064.05
221 $338,064.05 $1,072.15 $0.00 $1,911.46 $341,047.66
222 $341,047.66 $1,072.15 $0.00 $1,928.33 $344,048.14
223 $344,048.14 $1,072.15 $0.00 $1,945.30 $347,065.59
224 $347,065.59 $1,072.15 $0.00 $1,962.36 $350,100.10
225 $350,100.10 $1,072.15 $0.00 $1,979.52 $353,151.77
226 $353,151.77 $1,072.15 $0.00 $1,996.77 $356,220.69
227 $356,220.69 $1,072.15 $0.00 $2,014.12 $359,306.96
228 $359,306.96 $1,072.15 $0.00 $2,031.57 $362,410.68
229 $362,410.68 $1,072.15 $131,982.61 $2,049.12 $233,549.34
230 $233,549.34 $1,072.15 $0.00 $1,320.52 $235,942.01
231 $235,942.01 $1,072.15 $0.00 $1,334.05 $238,348.21
232 $238,348.21 $1,072.15 $0.00 $1,347.66 $240,768.02
233 $240,768.02 $1,072.15 $0.00 $1,361.34 $243,201.51
234 $243,201.51 $1,072.15 $0.00 $1,375.10 $245,648.76
235 $245,648.76 $1,072.15 $0.00 $1,388.93 $248,109.84
236 $248,109.84 $1,072.15 $0.00 $1,402.85 $250,584.84
237 $250,584.84 $1,072.15 $0.00 $1,416.84 $253,073.83
238 $253,073.83 $1,072.15 $0.00 $1,430.92 $255,576.90
239 $255,576.90 $1,072.15 $0.00 $1,445.07 $258,094.12
240 $258,094.12 $1,072.15 $0.00 $1,459.30 $260,625.57
241 $260,625.57 $1,072.15 $138,581.74 $1,473.61 $124,589.59
242 $124,589.59 $1,072.15 $0.00 $704.45 $126,366.19
243 $126,366.19 $1,072.15 $0.00 $714.49 $128,152.83
244 $128,152.83 $1,072.15 $0.00 $724.59 $129,949.57
245 $129,949.57 $1,072.15 $0.00 $734.75 $131,756.47
246 $131,756.47 $1,072.15 $0.00 $744.97 $133,573.59
247 $133,573.59 $1,072.15 $0.00 $755.24 $135,400.98
248 $135,400.98 $1,072.15 $0.00 $765.58 $137,238.71
249 $137,238.71 $1,072.15 $0.00 $775.97 $139,086.83
250 $139,086.83 $1,072.15 $0.00 $786.42 $140,945.40
251 $140,945.40 $1,072.15 $0.00 $796.93 $142,814.48
252 $142,814.48 $1,072.15 $0.00 $807.49 $144,694.12
253 $144,694.12 $0.00 $145,510.83 $818.12 $1.41