Savings Plan and Future Cost Estimation for University of Maine at Machias

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$52,336
Monthly savings required$414

How much will it cost to send your child to University of Maine at Machias in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $209,344.45 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $414.28 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$20,182.00
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 $414.28 $0.00 $0.00 $414.28
2 $414.28 $414.28 $0.00 $2.34 $830.90
3 $830.90 $414.28 $0.00 $4.70 $1,249.88
4 $1,249.88 $414.28 $0.00 $7.07 $1,671.23
5 $1,671.23 $414.28 $0.00 $9.45 $2,094.96
6 $2,094.96 $414.28 $0.00 $11.85 $2,521.09
7 $2,521.09 $414.28 $0.00 $14.25 $2,949.62
8 $2,949.62 $414.28 $0.00 $16.68 $3,380.58
9 $3,380.58 $414.28 $0.00 $19.11 $3,813.97
10 $3,813.97 $414.28 $0.00 $21.56 $4,249.81
11 $4,249.81 $414.28 $0.00 $24.03 $4,688.12
12 $4,688.12 $414.28 $0.00 $26.51 $5,128.91
13 $5,128.91 $414.28 $0.00 $29.00 $5,572.19
14 $5,572.19 $414.28 $0.00 $31.51 $6,017.98
15 $6,017.98 $414.28 $0.00 $34.03 $6,466.29
16 $6,466.29 $414.28 $0.00 $36.56 $6,917.13
17 $6,917.13 $414.28 $0.00 $39.11 $7,370.52
18 $7,370.52 $414.28 $0.00 $41.67 $7,826.47
19 $7,826.47 $414.28 $0.00 $44.25 $8,285.00
20 $8,285.00 $414.28 $0.00 $46.84 $8,746.12
21 $8,746.12 $414.28 $0.00 $49.45 $9,209.85
22 $9,209.85 $414.28 $0.00 $52.07 $9,676.20
23 $9,676.20 $414.28 $0.00 $54.71 $10,145.19
24 $10,145.19 $414.28 $0.00 $57.36 $10,616.83
25 $10,616.83 $414.28 $0.00 $60.03 $11,091.14
26 $11,091.14 $414.28 $0.00 $62.71 $11,568.13
27 $11,568.13 $414.28 $0.00 $65.41 $12,047.82
28 $12,047.82 $414.28 $0.00 $68.12 $12,530.22
29 $12,530.22 $414.28 $0.00 $70.85 $13,015.35
30 $13,015.35 $414.28 $0.00 $73.59 $13,503.22
31 $13,503.22 $414.28 $0.00 $76.35 $13,993.85
32 $13,993.85 $414.28 $0.00 $79.12 $14,487.25
33 $14,487.25 $414.28 $0.00 $81.91 $14,983.44
34 $14,983.44 $414.28 $0.00 $84.72 $15,482.44
35 $15,482.44 $414.28 $0.00 $87.54 $15,984.26
36 $15,984.26 $414.28 $0.00 $90.38 $16,488.92
37 $16,488.92 $414.28 $0.00 $93.23 $16,996.43
38 $16,996.43 $414.28 $0.00 $96.10 $17,506.81
39 $17,506.81 $414.28 $0.00 $98.99 $18,020.08
40 $18,020.08 $414.28 $0.00 $101.89 $18,536.25
41 $18,536.25 $414.28 $0.00 $104.81 $19,055.34
42 $19,055.34 $414.28 $0.00 $107.74 $19,577.36
43 $19,577.36 $414.28 $0.00 $110.69 $20,102.33
44 $20,102.33 $414.28 $0.00 $113.66 $20,630.27
45 $20,630.27 $414.28 $0.00 $116.65 $21,161.20
46 $21,161.20 $414.28 $0.00 $119.65 $21,695.13
47 $21,695.13 $414.28 $0.00 $122.67 $22,232.08
48 $22,232.08 $414.28 $0.00 $125.70 $22,772.06
49 $22,772.06 $414.28 $0.00 $128.76 $23,315.10
50 $23,315.10 $414.28 $0.00 $131.83 $23,861.21
51 $23,861.21 $414.28 $0.00 $134.91 $24,410.40
52 $24,410.40 $414.28 $0.00 $138.02 $24,962.70
53 $24,962.70 $414.28 $0.00 $141.14 $25,518.12
54 $25,518.12 $414.28 $0.00 $144.28 $26,076.68
55 $26,076.68 $414.28 $0.00 $147.44 $26,638.40
56 $26,638.40 $414.28 $0.00 $150.62 $27,203.30
57 $27,203.30 $414.28 $0.00 $153.81 $27,771.39
58 $27,771.39 $414.28 $0.00 $157.02 $28,342.69
59 $28,342.69 $414.28 $0.00 $160.25 $28,917.22
60 $28,917.22 $414.28 $0.00 $163.50 $29,495.00
61 $29,495.00 $414.28 $0.00 $166.77 $30,076.05
62 $30,076.05 $414.28 $0.00 $170.05 $30,660.38
63 $30,660.38 $414.28 $0.00 $173.36 $31,248.02
64 $31,248.02 $414.28 $0.00 $176.68 $31,838.98
65 $31,838.98 $414.28 $0.00 $180.02 $32,433.28
66 $32,433.28 $414.28 $0.00 $183.38 $33,030.94
67 $33,030.94 $414.28 $0.00 $186.76 $33,631.98
68 $33,631.98 $414.28 $0.00 $190.16 $34,236.42
69 $34,236.42 $414.28 $0.00 $193.58 $34,844.28
70 $34,844.28 $414.28 $0.00 $197.01 $35,455.57
71 $35,455.57 $414.28 $0.00 $200.47 $36,070.32
72 $36,070.32 $414.28 $0.00 $203.95 $36,688.55
73 $36,688.55 $414.28 $0.00 $207.44 $37,310.27
74 $37,310.27 $414.28 $0.00 $210.96 $37,935.51
75 $37,935.51 $414.28 $0.00 $214.49 $38,564.28
76 $38,564.28 $414.28 $0.00 $218.05 $39,196.61
77 $39,196.61 $414.28 $0.00 $221.62 $39,832.51
78 $39,832.51 $414.28 $0.00 $225.22 $40,472.01
79 $40,472.01 $414.28 $0.00 $228.83 $41,115.12
80 $41,115.12 $414.28 $0.00 $232.47 $41,761.87
81 $41,761.87 $414.28 $0.00 $236.13 $42,412.28
82 $42,412.28 $414.28 $0.00 $239.81 $43,066.37
83 $43,066.37 $414.28 $0.00 $243.50 $43,724.15
84 $43,724.15 $414.28 $0.00 $247.22 $44,385.65
85 $44,385.65 $414.28 $0.00 $250.96 $45,050.89
86 $45,050.89 $414.28 $0.00 $254.72 $45,719.89
87 $45,719.89 $414.28 $0.00 $258.51 $46,392.68
88 $46,392.68 $414.28 $0.00 $262.31 $47,069.27
89 $47,069.27 $414.28 $0.00 $266.14 $47,749.69
90 $47,749.69 $414.28 $0.00 $269.98 $48,433.95
91 $48,433.95 $414.28 $0.00 $273.85 $49,122.08
92 $49,122.08 $414.28 $0.00 $277.74 $49,814.10
93 $49,814.10 $414.28 $0.00 $281.66 $50,510.04
94 $50,510.04 $414.28 $0.00 $285.59 $51,209.91
95 $51,209.91 $414.28 $0.00 $289.55 $51,913.74
96 $51,913.74 $414.28 $0.00 $293.53 $52,621.55
97 $52,621.55 $414.28 $0.00 $297.53 $53,333.36
98 $53,333.36 $414.28 $0.00 $301.55 $54,049.19
99 $54,049.19 $414.28 $0.00 $305.60 $54,769.07
100 $54,769.07 $414.28 $0.00 $309.67 $55,493.02
101 $55,493.02 $414.28 $0.00 $313.77 $56,221.07
102 $56,221.07 $414.28 $0.00 $317.88 $56,953.23
103 $56,953.23 $414.28 $0.00 $322.02 $57,689.53
104 $57,689.53 $414.28 $0.00 $326.18 $58,429.99
105 $58,429.99 $414.28 $0.00 $330.37 $59,174.64
106 $59,174.64 $414.28 $0.00 $334.58 $59,923.50
107 $59,923.50 $414.28 $0.00 $338.82 $60,676.60
108 $60,676.60 $414.28 $0.00 $343.07 $61,433.95
109 $61,433.95 $414.28 $0.00 $347.36 $62,195.59
110 $62,195.59 $414.28 $0.00 $351.66 $62,961.53
111 $62,961.53 $414.28 $0.00 $355.99 $63,731.80
112 $63,731.80 $414.28 $0.00 $360.35 $64,506.43
113 $64,506.43 $414.28 $0.00 $364.73 $65,285.44
114 $65,285.44 $414.28 $0.00 $369.13 $66,068.85
115 $66,068.85 $414.28 $0.00 $373.56 $66,856.69
116 $66,856.69 $414.28 $0.00 $378.02 $67,648.99
117 $67,648.99 $414.28 $0.00 $382.50 $68,445.77
118 $68,445.77 $414.28 $0.00 $387.00 $69,247.05
119 $69,247.05 $414.28 $0.00 $391.53 $70,052.86
120 $70,052.86 $414.28 $0.00 $396.09 $70,863.23
121 $70,863.23 $414.28 $0.00 $400.67 $71,678.18
122 $71,678.18 $414.28 $0.00 $405.28 $72,497.74
123 $72,497.74 $414.28 $0.00 $409.91 $73,321.93
124 $73,321.93 $414.28 $0.00 $414.57 $74,150.78
125 $74,150.78 $414.28 $0.00 $419.26 $74,984.32
126 $74,984.32 $414.28 $0.00 $423.97 $75,822.57
127 $75,822.57 $414.28 $0.00 $428.71 $76,665.56
128 $76,665.56 $414.28 $0.00 $433.48 $77,513.32
129 $77,513.32 $414.28 $0.00 $438.27 $78,365.87
130 $78,365.87 $414.28 $0.00 $443.09 $79,223.24
131 $79,223.24 $414.28 $0.00 $447.94 $80,085.46
132 $80,085.46 $414.28 $0.00 $452.81 $80,952.55
133 $80,952.55 $414.28 $0.00 $457.72 $81,824.55
134 $81,824.55 $414.28 $0.00 $462.65 $82,701.48
135 $82,701.48 $414.28 $0.00 $467.61 $83,583.37
136 $83,583.37 $414.28 $0.00 $472.59 $84,470.24
137 $84,470.24 $414.28 $0.00 $477.61 $85,362.13
138 $85,362.13 $414.28 $0.00 $482.65 $86,259.06
139 $86,259.06 $414.28 $0.00 $487.72 $87,161.06
140 $87,161.06 $414.28 $0.00 $492.82 $88,068.16
141 $88,068.16 $414.28 $0.00 $497.95 $88,980.39
142 $88,980.39 $414.28 $0.00 $503.11 $89,897.78
143 $89,897.78 $414.28 $0.00 $508.30 $90,820.36
144 $90,820.36 $414.28 $0.00 $513.51 $91,748.15
145 $91,748.15 $414.28 $0.00 $518.76 $92,681.19
146 $92,681.19 $414.28 $0.00 $524.03 $93,619.50
147 $93,619.50 $414.28 $0.00 $529.34 $94,563.12
148 $94,563.12 $414.28 $0.00 $534.67 $95,512.07
149 $95,512.07 $414.28 $0.00 $540.04 $96,466.39
150 $96,466.39 $414.28 $0.00 $545.43 $97,426.10
151 $97,426.10 $414.28 $0.00 $550.86 $98,391.24
152 $98,391.24 $414.28 $0.00 $556.32 $99,361.84
153 $99,361.84 $414.28 $0.00 $561.81 $100,337.93
154 $100,337.93 $414.28 $0.00 $567.33 $101,319.54
155 $101,319.54 $414.28 $0.00 $572.88 $102,306.70
156 $102,306.70 $414.28 $0.00 $578.46 $103,299.44
157 $103,299.44 $414.28 $0.00 $584.07 $104,297.79
158 $104,297.79 $414.28 $0.00 $589.71 $105,301.78
159 $105,301.78 $414.28 $0.00 $595.39 $106,311.45
160 $106,311.45 $414.28 $0.00 $601.10 $107,326.83
161 $107,326.83 $414.28 $0.00 $606.84 $108,347.95
162 $108,347.95 $414.28 $0.00 $612.62 $109,374.85
163 $109,374.85 $414.28 $0.00 $618.42 $110,407.55
164 $110,407.55 $414.28 $0.00 $624.26 $111,446.09
165 $111,446.09 $414.28 $0.00 $630.13 $112,490.50
166 $112,490.50 $414.28 $0.00 $636.04 $113,540.82
167 $113,540.82 $414.28 $0.00 $641.98 $114,597.08
168 $114,597.08 $414.28 $0.00 $647.95 $115,659.31
169 $115,659.31 $414.28 $0.00 $653.95 $116,727.54
170 $116,727.54 $414.28 $0.00 $659.99 $117,801.81
171 $117,801.81 $414.28 $0.00 $666.07 $118,882.16
172 $118,882.16 $414.28 $0.00 $672.18 $119,968.62
173 $119,968.62 $414.28 $0.00 $678.32 $121,061.22
174 $121,061.22 $414.28 $0.00 $684.50 $122,160.00
175 $122,160.00 $414.28 $0.00 $690.71 $123,264.99
176 $123,264.99 $414.28 $0.00 $696.96 $124,376.23
177 $124,376.23 $414.28 $0.00 $703.24 $125,493.75
178 $125,493.75 $414.28 $0.00 $709.56 $126,617.59
179 $126,617.59 $414.28 $0.00 $715.91 $127,747.78
180 $127,747.78 $414.28 $0.00 $722.30 $128,884.36
181 $128,884.36 $414.28 $0.00 $728.73 $130,027.37
182 $130,027.37 $414.28 $0.00 $735.19 $131,176.84
183 $131,176.84 $414.28 $0.00 $741.69 $132,332.81
184 $132,332.81 $414.28 $0.00 $748.23 $133,495.32
185 $133,495.32 $414.28 $0.00 $754.80 $134,664.40
186 $134,664.40 $414.28 $0.00 $761.41 $135,840.09
187 $135,840.09 $414.28 $0.00 $768.06 $137,022.43
188 $137,022.43 $414.28 $0.00 $774.74 $138,211.45
189 $138,211.45 $414.28 $0.00 $781.47 $139,407.20
190 $139,407.20 $414.28 $0.00 $788.23 $140,609.71
191 $140,609.71 $414.28 $0.00 $795.03 $141,819.02
192 $141,819.02 $414.28 $0.00 $801.87 $143,035.17
193 $143,035.17 $414.28 $0.00 $808.74 $144,258.19
194 $144,258.19 $414.28 $0.00 $815.66 $145,488.13
195 $145,488.13 $414.28 $0.00 $822.61 $146,725.02
196 $146,725.02 $414.28 $0.00 $829.60 $147,968.90
197 $147,968.90 $414.28 $0.00 $836.64 $149,219.82
198 $149,219.82 $414.28 $0.00 $843.71 $150,477.81
199 $150,477.81 $414.28 $0.00 $850.82 $151,742.91
200 $151,742.91 $414.28 $0.00 $857.98 $153,015.17
201 $153,015.17 $414.28 $0.00 $865.17 $154,294.62
202 $154,294.62 $414.28 $0.00 $872.40 $155,581.30
203 $155,581.30 $414.28 $0.00 $879.68 $156,875.26
204 $156,875.26 $414.28 $0.00 $887.00 $158,176.54
205 $158,176.54 $414.28 $0.00 $894.35 $159,485.17
206 $159,485.17 $414.28 $0.00 $901.75 $160,801.20
207 $160,801.20 $414.28 $0.00 $909.19 $162,124.67
208 $162,124.67 $414.28 $0.00 $916.68 $163,455.63
209 $163,455.63 $414.28 $0.00 $924.20 $164,794.11
210 $164,794.11 $414.28 $0.00 $931.77 $166,140.16
211 $166,140.16 $414.28 $0.00 $939.38 $167,493.82
212 $167,493.82 $414.28 $0.00 $947.03 $168,855.13
213 $168,855.13 $414.28 $0.00 $954.73 $170,224.14
214 $170,224.14 $414.28 $0.00 $962.47 $171,600.89
215 $171,600.89 $414.28 $0.00 $970.26 $172,985.43
216 $172,985.43 $414.28 $0.00 $978.08 $174,377.79
217 $174,377.79 $414.28 $48,570.39 $985.96 $127,207.64
218 $127,207.64 $414.28 $0.00 $719.25 $128,341.17
219 $128,341.17 $414.28 $0.00 $725.66 $129,481.11
220 $129,481.11 $414.28 $0.00 $732.11 $130,627.50
221 $130,627.50 $414.28 $0.00 $738.59 $131,780.37
222 $131,780.37 $414.28 $0.00 $745.11 $132,939.76
223 $132,939.76 $414.28 $0.00 $751.66 $134,105.70
224 $134,105.70 $414.28 $0.00 $758.25 $135,278.23
225 $135,278.23 $414.28 $0.00 $764.88 $136,457.39
226 $136,457.39 $414.28 $0.00 $771.55 $137,643.22
227 $137,643.22 $414.28 $0.00 $778.25 $138,835.75
228 $138,835.75 $414.28 $0.00 $785.00 $140,035.03
229 $140,035.03 $414.28 $50,998.91 $791.78 $90,242.18
230 $90,242.18 $414.28 $0.00 $510.24 $91,166.70
231 $91,166.70 $414.28 $0.00 $515.47 $92,096.45
232 $92,096.45 $414.28 $0.00 $520.73 $93,031.46
233 $93,031.46 $414.28 $0.00 $526.01 $93,971.75
234 $93,971.75 $414.28 $0.00 $531.33 $94,917.36
235 $94,917.36 $414.28 $0.00 $536.68 $95,868.32
236 $95,868.32 $414.28 $0.00 $542.05 $96,824.65
237 $96,824.65 $414.28 $0.00 $547.46 $97,786.39
238 $97,786.39 $414.28 $0.00 $552.90 $98,753.57
239 $98,753.57 $414.28 $0.00 $558.37 $99,726.22
240 $99,726.22 $414.28 $0.00 $563.87 $100,704.37
241 $100,704.37 $414.28 $53,548.85 $569.40 $48,139.20
242 $48,139.20 $414.28 $0.00 $272.19 $48,825.67
243 $48,825.67 $414.28 $0.00 $276.07 $49,516.02
244 $49,516.02 $414.28 $0.00 $279.97 $50,210.27
245 $50,210.27 $414.28 $0.00 $283.90 $50,908.45
246 $50,908.45 $414.28 $0.00 $287.84 $51,610.57
247 $51,610.57 $414.28 $0.00 $291.81 $52,316.66
248 $52,316.66 $414.28 $0.00 $295.81 $53,026.75
249 $53,026.75 $414.28 $0.00 $299.82 $53,740.85
250 $53,740.85 $414.28 $0.00 $303.86 $54,458.99
251 $54,458.99 $414.28 $0.00 $307.92 $55,181.19
252 $55,181.19 $414.28 $0.00 $312.00 $55,907.47
253 $55,907.47 $0.00 $56,226.30 $316.11 ($2.72)