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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$51,833
Monthly savings required$410

How much will it cost to send your child to University of Maine at Augusta in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $207,332.12 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $410.30 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$19,988.00
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 $410.30 $0.00 $0.00 $410.30
2 $410.30 $410.30 $0.00 $2.32 $822.92
3 $822.92 $410.30 $0.00 $4.65 $1,237.87
4 $1,237.87 $410.30 $0.00 $7.00 $1,655.17
5 $1,655.17 $410.30 $0.00 $9.36 $2,074.83
6 $2,074.83 $410.30 $0.00 $11.73 $2,496.86
7 $2,496.86 $410.30 $0.00 $14.12 $2,921.28
8 $2,921.28 $410.30 $0.00 $16.52 $3,348.10
9 $3,348.10 $410.30 $0.00 $18.93 $3,777.33
10 $3,777.33 $410.30 $0.00 $21.36 $4,208.99
11 $4,208.99 $410.30 $0.00 $23.80 $4,643.09
12 $4,643.09 $410.30 $0.00 $26.25 $5,079.64
13 $5,079.64 $410.30 $0.00 $28.72 $5,518.66
14 $5,518.66 $410.30 $0.00 $31.20 $5,960.16
15 $5,960.16 $410.30 $0.00 $33.70 $6,404.16
16 $6,404.16 $410.30 $0.00 $36.21 $6,850.67
17 $6,850.67 $410.30 $0.00 $38.73 $7,299.70
18 $7,299.70 $410.30 $0.00 $41.27 $7,751.27
19 $7,751.27 $410.30 $0.00 $43.83 $8,205.40
20 $8,205.40 $410.30 $0.00 $46.39 $8,662.09
21 $8,662.09 $410.30 $0.00 $48.98 $9,121.37
22 $9,121.37 $410.30 $0.00 $51.57 $9,583.24
23 $9,583.24 $410.30 $0.00 $54.19 $10,047.73
24 $10,047.73 $410.30 $0.00 $56.81 $10,514.84
25 $10,514.84 $410.30 $0.00 $59.45 $10,984.59
26 $10,984.59 $410.30 $0.00 $62.11 $11,457.00
27 $11,457.00 $410.30 $0.00 $64.78 $11,932.08
28 $11,932.08 $410.30 $0.00 $67.47 $12,409.85
29 $12,409.85 $410.30 $0.00 $70.17 $12,890.32
30 $12,890.32 $410.30 $0.00 $72.88 $13,373.50
31 $13,373.50 $410.30 $0.00 $75.62 $13,859.42
32 $13,859.42 $410.30 $0.00 $78.36 $14,348.08
33 $14,348.08 $410.30 $0.00 $81.13 $14,839.51
34 $14,839.51 $410.30 $0.00 $83.90 $15,333.71
35 $15,333.71 $410.30 $0.00 $86.70 $15,830.71
36 $15,830.71 $410.30 $0.00 $89.51 $16,330.52
37 $16,330.52 $410.30 $0.00 $92.34 $16,833.16
38 $16,833.16 $410.30 $0.00 $95.18 $17,338.64
39 $17,338.64 $410.30 $0.00 $98.04 $17,846.98
40 $17,846.98 $410.30 $0.00 $100.91 $18,358.19
41 $18,358.19 $410.30 $0.00 $103.80 $18,872.29
42 $18,872.29 $410.30 $0.00 $106.71 $19,389.30
43 $19,389.30 $410.30 $0.00 $109.63 $19,909.23
44 $19,909.23 $410.30 $0.00 $112.57 $20,432.10
45 $20,432.10 $410.30 $0.00 $115.53 $20,957.93
46 $20,957.93 $410.30 $0.00 $118.50 $21,486.73
47 $21,486.73 $410.30 $0.00 $121.49 $22,018.52
48 $22,018.52 $410.30 $0.00 $124.50 $22,553.32
49 $22,553.32 $410.30 $0.00 $127.52 $23,091.14
50 $23,091.14 $410.30 $0.00 $130.56 $23,632.00
51 $23,632.00 $410.30 $0.00 $133.62 $24,175.92
52 $24,175.92 $410.30 $0.00 $136.69 $24,722.91
53 $24,722.91 $410.30 $0.00 $139.79 $25,273.00
54 $25,273.00 $410.30 $0.00 $142.90 $25,826.20
55 $25,826.20 $410.30 $0.00 $146.03 $26,382.53
56 $26,382.53 $410.30 $0.00 $149.17 $26,942.00
57 $26,942.00 $410.30 $0.00 $152.33 $27,504.63
58 $27,504.63 $410.30 $0.00 $155.52 $28,070.45
59 $28,070.45 $410.30 $0.00 $158.71 $28,639.46
60 $28,639.46 $410.30 $0.00 $161.93 $29,211.69
61 $29,211.69 $410.30 $0.00 $165.17 $29,787.16
62 $29,787.16 $410.30 $0.00 $168.42 $30,365.88
63 $30,365.88 $410.30 $0.00 $171.69 $30,947.87
64 $30,947.87 $410.30 $0.00 $174.98 $31,533.15
65 $31,533.15 $410.30 $0.00 $178.29 $32,121.74
66 $32,121.74 $410.30 $0.00 $181.62 $32,713.66
67 $32,713.66 $410.30 $0.00 $184.97 $33,308.93
68 $33,308.93 $410.30 $0.00 $188.33 $33,907.56
69 $33,907.56 $410.30 $0.00 $191.72 $34,509.58
70 $34,509.58 $410.30 $0.00 $195.12 $35,115.00
71 $35,115.00 $410.30 $0.00 $198.55 $35,723.85
72 $35,723.85 $410.30 $0.00 $201.99 $36,336.14
73 $36,336.14 $410.30 $0.00 $205.45 $36,951.89
74 $36,951.89 $410.30 $0.00 $208.93 $37,571.12
75 $37,571.12 $410.30 $0.00 $212.43 $38,193.85
76 $38,193.85 $410.30 $0.00 $215.95 $38,820.10
77 $38,820.10 $410.30 $0.00 $219.49 $39,449.89
78 $39,449.89 $410.30 $0.00 $223.06 $40,083.25
79 $40,083.25 $410.30 $0.00 $226.64 $40,720.19
80 $40,720.19 $410.30 $0.00 $230.24 $41,360.73
81 $41,360.73 $410.30 $0.00 $233.86 $42,004.89
82 $42,004.89 $410.30 $0.00 $237.50 $42,652.69
83 $42,652.69 $410.30 $0.00 $241.16 $43,304.15
84 $43,304.15 $410.30 $0.00 $244.85 $43,959.30
85 $43,959.30 $410.30 $0.00 $248.55 $44,618.15
86 $44,618.15 $410.30 $0.00 $252.28 $45,280.73
87 $45,280.73 $410.30 $0.00 $256.02 $45,947.05
88 $45,947.05 $410.30 $0.00 $259.79 $46,617.14
89 $46,617.14 $410.30 $0.00 $263.58 $47,291.02
90 $47,291.02 $410.30 $0.00 $267.39 $47,968.71
91 $47,968.71 $410.30 $0.00 $271.22 $48,650.23
92 $48,650.23 $410.30 $0.00 $275.08 $49,335.61
93 $49,335.61 $410.30 $0.00 $278.95 $50,024.86
94 $50,024.86 $410.30 $0.00 $282.85 $50,718.01
95 $50,718.01 $410.30 $0.00 $286.77 $51,415.08
96 $51,415.08 $410.30 $0.00 $290.71 $52,116.09
97 $52,116.09 $410.30 $0.00 $294.67 $52,821.06
98 $52,821.06 $410.30 $0.00 $298.66 $53,530.02
99 $53,530.02 $410.30 $0.00 $302.67 $54,242.99
100 $54,242.99 $410.30 $0.00 $306.70 $54,959.99
101 $54,959.99 $410.30 $0.00 $310.75 $55,681.04
102 $55,681.04 $410.30 $0.00 $314.83 $56,406.17
103 $56,406.17 $410.30 $0.00 $318.93 $57,135.40
104 $57,135.40 $410.30 $0.00 $323.05 $57,868.75
105 $57,868.75 $410.30 $0.00 $327.20 $58,606.25
106 $58,606.25 $410.30 $0.00 $331.37 $59,347.92
107 $59,347.92 $410.30 $0.00 $335.56 $60,093.78
108 $60,093.78 $410.30 $0.00 $339.78 $60,843.86
109 $60,843.86 $410.30 $0.00 $344.02 $61,598.18
110 $61,598.18 $410.30 $0.00 $348.29 $62,356.77
111 $62,356.77 $410.30 $0.00 $352.57 $63,119.64
112 $63,119.64 $410.30 $0.00 $356.89 $63,886.83
113 $63,886.83 $410.30 $0.00 $361.23 $64,658.36
114 $64,658.36 $410.30 $0.00 $365.59 $65,434.25
115 $65,434.25 $410.30 $0.00 $369.97 $66,214.52
116 $66,214.52 $410.30 $0.00 $374.39 $66,999.21
117 $66,999.21 $410.30 $0.00 $378.82 $67,788.33
118 $67,788.33 $410.30 $0.00 $383.29 $68,581.92
119 $68,581.92 $410.30 $0.00 $387.77 $69,379.99
120 $69,379.99 $410.30 $0.00 $392.28 $70,182.57
121 $70,182.57 $410.30 $0.00 $396.82 $70,989.69
122 $70,989.69 $410.30 $0.00 $401.39 $71,801.38
123 $71,801.38 $410.30 $0.00 $405.98 $72,617.66
124 $72,617.66 $410.30 $0.00 $410.59 $73,438.55
125 $73,438.55 $410.30 $0.00 $415.23 $74,264.08
126 $74,264.08 $410.30 $0.00 $419.90 $75,094.28
127 $75,094.28 $410.30 $0.00 $424.59 $75,929.17
128 $75,929.17 $410.30 $0.00 $429.31 $76,768.78
129 $76,768.78 $410.30 $0.00 $434.06 $77,613.14
130 $77,613.14 $410.30 $0.00 $438.84 $78,462.28
131 $78,462.28 $410.30 $0.00 $443.64 $79,316.22
132 $79,316.22 $410.30 $0.00 $448.47 $80,174.99
133 $80,174.99 $410.30 $0.00 $453.32 $81,038.61
134 $81,038.61 $410.30 $0.00 $458.20 $81,907.11
135 $81,907.11 $410.30 $0.00 $463.11 $82,780.52
136 $82,780.52 $410.30 $0.00 $468.05 $83,658.87
137 $83,658.87 $410.30 $0.00 $473.02 $84,542.19
138 $84,542.19 $410.30 $0.00 $478.01 $85,430.50
139 $85,430.50 $410.30 $0.00 $483.04 $86,323.84
140 $86,323.84 $410.30 $0.00 $488.09 $87,222.23
141 $87,222.23 $410.30 $0.00 $493.17 $88,125.70
142 $88,125.70 $410.30 $0.00 $498.28 $89,034.28
143 $89,034.28 $410.30 $0.00 $503.41 $89,947.99
144 $89,947.99 $410.30 $0.00 $508.58 $90,866.87
145 $90,866.87 $410.30 $0.00 $513.77 $91,790.94
146 $91,790.94 $410.30 $0.00 $519.00 $92,720.24
147 $92,720.24 $410.30 $0.00 $524.25 $93,654.79
148 $93,654.79 $410.30 $0.00 $529.54 $94,594.63
149 $94,594.63 $410.30 $0.00 $534.85 $95,539.78
150 $95,539.78 $410.30 $0.00 $540.20 $96,490.28
151 $96,490.28 $410.30 $0.00 $545.57 $97,446.15
152 $97,446.15 $410.30 $0.00 $550.97 $98,407.42
153 $98,407.42 $410.30 $0.00 $556.41 $99,374.13
154 $99,374.13 $410.30 $0.00 $561.88 $100,346.31
155 $100,346.31 $410.30 $0.00 $567.37 $101,323.98
156 $101,323.98 $410.30 $0.00 $572.90 $102,307.18
157 $102,307.18 $410.30 $0.00 $578.46 $103,295.94
158 $103,295.94 $410.30 $0.00 $584.05 $104,290.29
159 $104,290.29 $410.30 $0.00 $589.67 $105,290.26
160 $105,290.26 $410.30 $0.00 $595.33 $106,295.89
161 $106,295.89 $410.30 $0.00 $601.01 $107,307.20
162 $107,307.20 $410.30 $0.00 $606.73 $108,324.23
163 $108,324.23 $410.30 $0.00 $612.48 $109,347.01
164 $109,347.01 $410.30 $0.00 $618.26 $110,375.57
165 $110,375.57 $410.30 $0.00 $624.08 $111,409.95
166 $111,409.95 $410.30 $0.00 $629.93 $112,450.18
167 $112,450.18 $410.30 $0.00 $635.81 $113,496.29
168 $113,496.29 $410.30 $0.00 $641.72 $114,548.31
169 $114,548.31 $410.30 $0.00 $647.67 $115,606.28
170 $115,606.28 $410.30 $0.00 $653.65 $116,670.23
171 $116,670.23 $410.30 $0.00 $659.67 $117,740.20
172 $117,740.20 $410.30 $0.00 $665.72 $118,816.22
173 $118,816.22 $410.30 $0.00 $671.80 $119,898.32
174 $119,898.32 $410.30 $0.00 $677.92 $120,986.54
175 $120,986.54 $410.30 $0.00 $684.08 $122,080.92
176 $122,080.92 $410.30 $0.00 $690.26 $123,181.48
177 $123,181.48 $410.30 $0.00 $696.49 $124,288.27
178 $124,288.27 $410.30 $0.00 $702.74 $125,401.31
179 $125,401.31 $410.30 $0.00 $709.04 $126,520.65
180 $126,520.65 $410.30 $0.00 $715.37 $127,646.32
181 $127,646.32 $410.30 $0.00 $721.73 $128,778.35
182 $128,778.35 $410.30 $0.00 $728.13 $129,916.78
183 $129,916.78 $410.30 $0.00 $734.57 $131,061.65
184 $131,061.65 $410.30 $0.00 $741.04 $132,212.99
185 $132,212.99 $410.30 $0.00 $747.55 $133,370.84
186 $133,370.84 $410.30 $0.00 $754.10 $134,535.24
187 $134,535.24 $410.30 $0.00 $760.68 $135,706.22
188 $135,706.22 $410.30 $0.00 $767.30 $136,883.82
189 $136,883.82 $410.30 $0.00 $773.96 $138,068.08
190 $138,068.08 $410.30 $0.00 $780.66 $139,259.04
191 $139,259.04 $410.30 $0.00 $787.39 $140,456.73
192 $140,456.73 $410.30 $0.00 $794.16 $141,661.19
193 $141,661.19 $410.30 $0.00 $800.97 $142,872.46
194 $142,872.46 $410.30 $0.00 $807.82 $144,090.58
195 $144,090.58 $410.30 $0.00 $814.71 $145,315.59
196 $145,315.59 $410.30 $0.00 $821.64 $146,547.53
197 $146,547.53 $410.30 $0.00 $828.60 $147,786.43
198 $147,786.43 $410.30 $0.00 $835.61 $149,032.34
199 $149,032.34 $410.30 $0.00 $842.65 $150,285.29
200 $150,285.29 $410.30 $0.00 $849.73 $151,545.32
201 $151,545.32 $410.30 $0.00 $856.86 $152,812.48
202 $152,812.48 $410.30 $0.00 $864.02 $154,086.80
203 $154,086.80 $410.30 $0.00 $871.23 $155,368.33
204 $155,368.33 $410.30 $0.00 $878.48 $156,657.11
205 $156,657.11 $410.30 $0.00 $885.76 $157,953.17
206 $157,953.17 $410.30 $0.00 $893.09 $159,256.56
207 $159,256.56 $410.30 $0.00 $900.46 $160,567.32
208 $160,567.32 $410.30 $0.00 $907.87 $161,885.49
209 $161,885.49 $410.30 $0.00 $915.32 $163,211.11
210 $163,211.11 $410.30 $0.00 $922.82 $164,544.23
211 $164,544.23 $410.30 $0.00 $930.36 $165,884.89
212 $165,884.89 $410.30 $0.00 $937.94 $167,233.13
213 $167,233.13 $410.30 $0.00 $945.56 $168,588.99
214 $168,588.99 $410.30 $0.00 $953.23 $169,952.52
215 $169,952.52 $410.30 $0.00 $960.94 $171,323.76
216 $171,323.76 $410.30 $0.00 $968.69 $172,702.75
217 $172,702.75 $410.30 $48,103.51 $976.49 $125,986.03
218 $125,986.03 $410.30 $0.00 $712.34 $127,108.67
219 $127,108.67 $410.30 $0.00 $718.69 $128,237.66
220 $128,237.66 $410.30 $0.00 $725.07 $129,373.03
221 $129,373.03 $410.30 $0.00 $731.49 $130,514.82
222 $130,514.82 $410.30 $0.00 $737.95 $131,663.07
223 $131,663.07 $410.30 $0.00 $744.44 $132,817.81
224 $132,817.81 $410.30 $0.00 $750.97 $133,979.08
225 $133,979.08 $410.30 $0.00 $757.54 $135,146.92
226 $135,146.92 $410.30 $0.00 $764.14 $136,321.36
227 $136,321.36 $410.30 $0.00 $770.78 $137,502.44
228 $137,502.44 $410.30 $0.00 $777.46 $138,690.20
229 $138,690.20 $410.30 $50,508.68 $784.17 $89,375.99
230 $89,375.99 $410.30 $0.00 $505.34 $90,291.63
231 $90,291.63 $410.30 $0.00 $510.52 $91,212.45
232 $91,212.45 $410.30 $0.00 $515.73 $92,138.48
233 $92,138.48 $410.30 $0.00 $520.96 $93,069.74
234 $93,069.74 $410.30 $0.00 $526.23 $94,006.27
235 $94,006.27 $410.30 $0.00 $531.53 $94,948.10
236 $94,948.10 $410.30 $0.00 $536.85 $95,895.25
237 $95,895.25 $410.30 $0.00 $542.21 $96,847.76
238 $96,847.76 $410.30 $0.00 $547.59 $97,805.65
239 $97,805.65 $410.30 $0.00 $553.01 $98,768.96
240 $98,768.96 $410.30 $0.00 $558.45 $99,737.71
241 $99,737.71 $410.30 $53,034.11 $563.93 $47,677.83
242 $47,677.83 $410.30 $0.00 $269.58 $48,357.71
243 $48,357.71 $410.30 $0.00 $273.42 $49,041.43
244 $49,041.43 $410.30 $0.00 $277.29 $49,729.02
245 $49,729.02 $410.30 $0.00 $281.18 $50,420.50
246 $50,420.50 $410.30 $0.00 $285.08 $51,115.88
247 $51,115.88 $410.30 $0.00 $289.02 $51,815.20
248 $51,815.20 $410.30 $0.00 $292.97 $52,518.47
249 $52,518.47 $410.30 $0.00 $296.95 $53,225.72
250 $53,225.72 $410.30 $0.00 $300.95 $53,936.97
251 $53,936.97 $410.30 $0.00 $304.97 $54,652.24
252 $54,652.24 $410.30 $0.00 $309.01 $55,371.55
253 $55,371.55 $0.00 $55,685.82 $313.08 ($1.19)