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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$58,638
Monthly savings required$464

How much will it cost to send your child to University of Southern Maine in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $234,550.43 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $464.17 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$22,612.00
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 $464.17 $0.00 $0.00 $464.17
2 $464.17 $464.17 $0.00 $2.62 $930.96
3 $930.96 $464.17 $0.00 $5.26 $1,400.39
4 $1,400.39 $464.17 $0.00 $7.92 $1,872.48
5 $1,872.48 $464.17 $0.00 $10.59 $2,347.24
6 $2,347.24 $464.17 $0.00 $13.27 $2,824.68
7 $2,824.68 $464.17 $0.00 $15.97 $3,304.82
8 $3,304.82 $464.17 $0.00 $18.69 $3,787.68
9 $3,787.68 $464.17 $0.00 $21.42 $4,273.27
10 $4,273.27 $464.17 $0.00 $24.16 $4,761.60
11 $4,761.60 $464.17 $0.00 $26.92 $5,252.69
12 $5,252.69 $464.17 $0.00 $29.70 $5,746.56
13 $5,746.56 $464.17 $0.00 $32.49 $6,243.22
14 $6,243.22 $464.17 $0.00 $35.30 $6,742.69
15 $6,742.69 $464.17 $0.00 $38.12 $7,244.98
16 $7,244.98 $464.17 $0.00 $40.96 $7,750.11
17 $7,750.11 $464.17 $0.00 $43.82 $8,258.10
18 $8,258.10 $464.17 $0.00 $46.69 $8,768.96
19 $8,768.96 $464.17 $0.00 $49.58 $9,282.71
20 $9,282.71 $464.17 $0.00 $52.49 $9,799.37
21 $9,799.37 $464.17 $0.00 $55.41 $10,318.95
22 $10,318.95 $464.17 $0.00 $58.34 $10,841.46
23 $10,841.46 $464.17 $0.00 $61.30 $11,366.93
24 $11,366.93 $464.17 $0.00 $64.27 $11,895.37
25 $11,895.37 $464.17 $0.00 $67.26 $12,426.80
26 $12,426.80 $464.17 $0.00 $70.26 $12,961.23
27 $12,961.23 $464.17 $0.00 $73.28 $13,498.68
28 $13,498.68 $464.17 $0.00 $76.32 $14,039.17
29 $14,039.17 $464.17 $0.00 $79.38 $14,582.72
30 $14,582.72 $464.17 $0.00 $82.45 $15,129.34
31 $15,129.34 $464.17 $0.00 $85.54 $15,679.05
32 $15,679.05 $464.17 $0.00 $88.65 $16,231.87
33 $16,231.87 $464.17 $0.00 $91.78 $16,787.82
34 $16,787.82 $464.17 $0.00 $94.92 $17,346.91
35 $17,346.91 $464.17 $0.00 $98.08 $17,909.16
36 $17,909.16 $464.17 $0.00 $101.26 $18,474.59
37 $18,474.59 $464.17 $0.00 $104.46 $19,043.22
38 $19,043.22 $464.17 $0.00 $107.67 $19,615.06
39 $19,615.06 $464.17 $0.00 $110.91 $20,190.14
40 $20,190.14 $464.17 $0.00 $114.16 $20,768.47
41 $20,768.47 $464.17 $0.00 $117.43 $21,350.07
42 $21,350.07 $464.17 $0.00 $120.72 $21,934.96
43 $21,934.96 $464.17 $0.00 $124.02 $22,523.15
44 $22,523.15 $464.17 $0.00 $127.35 $23,114.67
45 $23,114.67 $464.17 $0.00 $130.69 $23,709.53
46 $23,709.53 $464.17 $0.00 $134.06 $24,307.76
47 $24,307.76 $464.17 $0.00 $137.44 $24,909.37
48 $24,909.37 $464.17 $0.00 $140.84 $25,514.38
49 $25,514.38 $464.17 $0.00 $144.26 $26,122.81
50 $26,122.81 $464.17 $0.00 $147.70 $26,734.68
51 $26,734.68 $464.17 $0.00 $151.16 $27,350.01
52 $27,350.01 $464.17 $0.00 $154.64 $27,968.82
53 $27,968.82 $464.17 $0.00 $158.14 $28,591.13
54 $28,591.13 $464.17 $0.00 $161.66 $29,216.96
55 $29,216.96 $464.17 $0.00 $165.20 $29,846.33
56 $29,846.33 $464.17 $0.00 $168.76 $30,479.26
57 $30,479.26 $464.17 $0.00 $172.33 $31,115.76
58 $31,115.76 $464.17 $0.00 $175.93 $31,755.86
59 $31,755.86 $464.17 $0.00 $179.55 $32,399.58
60 $32,399.58 $464.17 $0.00 $183.19 $33,046.94
61 $33,046.94 $464.17 $0.00 $186.85 $33,697.96
62 $33,697.96 $464.17 $0.00 $190.53 $34,352.66
63 $34,352.66 $464.17 $0.00 $194.23 $35,011.06
64 $35,011.06 $464.17 $0.00 $197.96 $35,673.19
65 $35,673.19 $464.17 $0.00 $201.70 $36,339.06
66 $36,339.06 $464.17 $0.00 $205.47 $37,008.70
67 $37,008.70 $464.17 $0.00 $209.25 $37,682.12
68 $37,682.12 $464.17 $0.00 $213.06 $38,359.35
69 $38,359.35 $464.17 $0.00 $216.89 $39,040.41
70 $39,040.41 $464.17 $0.00 $220.74 $39,725.32
71 $39,725.32 $464.17 $0.00 $224.61 $40,414.10
72 $40,414.10 $464.17 $0.00 $228.51 $41,106.78
73 $41,106.78 $464.17 $0.00 $232.42 $41,803.37
74 $41,803.37 $464.17 $0.00 $236.36 $42,503.90
75 $42,503.90 $464.17 $0.00 $240.32 $43,208.39
76 $43,208.39 $464.17 $0.00 $244.31 $43,916.87
77 $43,916.87 $464.17 $0.00 $248.31 $44,629.35
78 $44,629.35 $464.17 $0.00 $252.34 $45,345.86
79 $45,345.86 $464.17 $0.00 $256.39 $46,066.42
80 $46,066.42 $464.17 $0.00 $260.47 $46,791.06
81 $46,791.06 $464.17 $0.00 $264.56 $47,519.79
82 $47,519.79 $464.17 $0.00 $268.68 $48,252.64
83 $48,252.64 $464.17 $0.00 $272.83 $48,989.64
84 $48,989.64 $464.17 $0.00 $276.99 $49,730.80
85 $49,730.80 $464.17 $0.00 $281.19 $50,476.16
86 $50,476.16 $464.17 $0.00 $285.40 $51,225.73
87 $51,225.73 $464.17 $0.00 $289.64 $51,979.54
88 $51,979.54 $464.17 $0.00 $293.90 $52,737.61
89 $52,737.61 $464.17 $0.00 $298.19 $53,499.97
90 $53,499.97 $464.17 $0.00 $302.50 $54,266.64
91 $54,266.64 $464.17 $0.00 $306.83 $55,037.64
92 $55,037.64 $464.17 $0.00 $311.19 $55,813.00
93 $55,813.00 $464.17 $0.00 $315.57 $56,592.74
94 $56,592.74 $464.17 $0.00 $319.98 $57,376.89
95 $57,376.89 $464.17 $0.00 $324.42 $58,165.48
96 $58,165.48 $464.17 $0.00 $328.88 $58,958.53
97 $58,958.53 $464.17 $0.00 $333.36 $59,756.06
98 $59,756.06 $464.17 $0.00 $337.87 $60,558.10
99 $60,558.10 $464.17 $0.00 $342.40 $61,364.67
100 $61,364.67 $464.17 $0.00 $346.96 $62,175.80
101 $62,175.80 $464.17 $0.00 $351.55 $62,991.52
102 $62,991.52 $464.17 $0.00 $356.16 $63,811.85
103 $63,811.85 $464.17 $0.00 $360.80 $64,636.82
104 $64,636.82 $464.17 $0.00 $365.47 $65,466.46
105 $65,466.46 $464.17 $0.00 $370.16 $66,300.79
106 $66,300.79 $464.17 $0.00 $374.87 $67,139.83
107 $67,139.83 $464.17 $0.00 $379.62 $67,983.62
108 $67,983.62 $464.17 $0.00 $384.39 $68,832.18
109 $68,832.18 $464.17 $0.00 $389.19 $69,685.54
110 $69,685.54 $464.17 $0.00 $394.01 $70,543.72
111 $70,543.72 $464.17 $0.00 $398.86 $71,406.75
112 $71,406.75 $464.17 $0.00 $403.74 $72,274.66
113 $72,274.66 $464.17 $0.00 $408.65 $73,147.48
114 $73,147.48 $464.17 $0.00 $413.59 $74,025.24
115 $74,025.24 $464.17 $0.00 $418.55 $74,907.96
116 $74,907.96 $464.17 $0.00 $423.54 $75,795.67
117 $75,795.67 $464.17 $0.00 $428.56 $76,688.40
118 $76,688.40 $464.17 $0.00 $433.61 $77,586.18
119 $77,586.18 $464.17 $0.00 $438.68 $78,489.03
120 $78,489.03 $464.17 $0.00 $443.79 $79,396.99
121 $79,396.99 $464.17 $0.00 $448.92 $80,310.08
122 $80,310.08 $464.17 $0.00 $454.08 $81,228.33
123 $81,228.33 $464.17 $0.00 $459.28 $82,151.78
124 $82,151.78 $464.17 $0.00 $464.50 $83,080.45
125 $83,080.45 $464.17 $0.00 $469.75 $84,014.37
126 $84,014.37 $464.17 $0.00 $475.03 $84,953.57
127 $84,953.57 $464.17 $0.00 $480.34 $85,898.08
128 $85,898.08 $464.17 $0.00 $485.68 $86,847.93
129 $86,847.93 $464.17 $0.00 $491.05 $87,803.15
130 $87,803.15 $464.17 $0.00 $496.45 $88,763.77
131 $88,763.77 $464.17 $0.00 $501.88 $89,729.82
132 $89,729.82 $464.17 $0.00 $507.35 $90,701.34
133 $90,701.34 $464.17 $0.00 $512.84 $91,678.35
134 $91,678.35 $464.17 $0.00 $518.36 $92,660.88
135 $92,660.88 $464.17 $0.00 $523.92 $93,648.97
136 $93,648.97 $464.17 $0.00 $529.50 $94,642.64
137 $94,642.64 $464.17 $0.00 $535.12 $95,641.93
138 $95,641.93 $464.17 $0.00 $540.77 $96,646.87
139 $96,646.87 $464.17 $0.00 $546.46 $97,657.50
140 $97,657.50 $464.17 $0.00 $552.17 $98,673.84
141 $98,673.84 $464.17 $0.00 $557.92 $99,695.93
142 $99,695.93 $464.17 $0.00 $563.70 $100,723.80
143 $100,723.80 $464.17 $0.00 $569.51 $101,757.48
144 $101,757.48 $464.17 $0.00 $575.35 $102,797.00
145 $102,797.00 $464.17 $0.00 $581.23 $103,842.40
146 $103,842.40 $464.17 $0.00 $587.14 $104,893.71
147 $104,893.71 $464.17 $0.00 $593.08 $105,950.96
148 $105,950.96 $464.17 $0.00 $599.06 $107,014.19
149 $107,014.19 $464.17 $0.00 $605.07 $108,083.43
150 $108,083.43 $464.17 $0.00 $611.12 $109,158.72
151 $109,158.72 $464.17 $0.00 $617.20 $110,240.09
152 $110,240.09 $464.17 $0.00 $623.31 $111,327.57
153 $111,327.57 $464.17 $0.00 $629.46 $112,421.20
154 $112,421.20 $464.17 $0.00 $635.65 $113,521.02
155 $113,521.02 $464.17 $0.00 $641.86 $114,627.05
156 $114,627.05 $464.17 $0.00 $648.12 $115,739.34
157 $115,739.34 $464.17 $0.00 $654.41 $116,857.92
158 $116,857.92 $464.17 $0.00 $660.73 $117,982.82
159 $117,982.82 $464.17 $0.00 $667.09 $119,114.08
160 $119,114.08 $464.17 $0.00 $673.49 $120,251.74
161 $120,251.74 $464.17 $0.00 $679.92 $121,395.83
162 $121,395.83 $464.17 $0.00 $686.39 $122,546.39
163 $122,546.39 $464.17 $0.00 $692.90 $123,703.46
164 $123,703.46 $464.17 $0.00 $699.44 $124,867.07
165 $124,867.07 $464.17 $0.00 $706.02 $126,037.26
166 $126,037.26 $464.17 $0.00 $712.63 $127,214.06
167 $127,214.06 $464.17 $0.00 $719.29 $128,397.52
168 $128,397.52 $464.17 $0.00 $725.98 $129,587.67
169 $129,587.67 $464.17 $0.00 $732.71 $130,784.55
170 $130,784.55 $464.17 $0.00 $739.47 $131,988.19
171 $131,988.19 $464.17 $0.00 $746.28 $133,198.64
172 $133,198.64 $464.17 $0.00 $753.12 $134,415.93
173 $134,415.93 $464.17 $0.00 $760.01 $135,640.11
174 $135,640.11 $464.17 $0.00 $766.93 $136,871.21
175 $136,871.21 $464.17 $0.00 $773.89 $138,109.27
176 $138,109.27 $464.17 $0.00 $780.89 $139,354.33
177 $139,354.33 $464.17 $0.00 $787.93 $140,606.43
178 $140,606.43 $464.17 $0.00 $795.01 $141,865.61
179 $141,865.61 $464.17 $0.00 $802.13 $143,131.91
180 $143,131.91 $464.17 $0.00 $809.29 $144,405.37
181 $144,405.37 $464.17 $0.00 $816.49 $145,686.03
182 $145,686.03 $464.17 $0.00 $823.73 $146,973.93
183 $146,973.93 $464.17 $0.00 $831.01 $148,269.11
184 $148,269.11 $464.17 $0.00 $838.34 $149,571.62
185 $149,571.62 $464.17 $0.00 $845.70 $150,881.49
186 $150,881.49 $464.17 $0.00 $853.11 $152,198.77
187 $152,198.77 $464.17 $0.00 $860.55 $153,523.49
188 $153,523.49 $464.17 $0.00 $868.04 $154,855.70
189 $154,855.70 $464.17 $0.00 $875.58 $156,195.45
190 $156,195.45 $464.17 $0.00 $883.15 $157,542.77
191 $157,542.77 $464.17 $0.00 $890.77 $158,897.71
192 $158,897.71 $464.17 $0.00 $898.43 $160,260.31
193 $160,260.31 $464.17 $0.00 $906.14 $161,630.62
194 $161,630.62 $464.17 $0.00 $913.88 $163,008.67
195 $163,008.67 $464.17 $0.00 $921.67 $164,394.51
196 $164,394.51 $464.17 $0.00 $929.51 $165,788.19
197 $165,788.19 $464.17 $0.00 $937.39 $167,189.75
198 $167,189.75 $464.17 $0.00 $945.32 $168,599.24
199 $168,599.24 $464.17 $0.00 $953.28 $170,016.69
200 $170,016.69 $464.17 $0.00 $961.30 $171,442.16
201 $171,442.16 $464.17 $0.00 $969.36 $172,875.69
202 $172,875.69 $464.17 $0.00 $977.46 $174,317.32
203 $174,317.32 $464.17 $0.00 $985.62 $175,767.11
204 $175,767.11 $464.17 $0.00 $993.81 $177,225.09
205 $177,225.09 $464.17 $0.00 $1,002.06 $178,691.32
206 $178,691.32 $464.17 $0.00 $1,010.35 $180,165.84
207 $180,165.84 $464.17 $0.00 $1,018.68 $181,648.69
208 $181,648.69 $464.17 $0.00 $1,027.07 $183,139.93
209 $183,139.93 $464.17 $0.00 $1,035.50 $184,639.60
210 $184,639.60 $464.17 $0.00 $1,043.98 $186,147.75
211 $186,147.75 $464.17 $0.00 $1,052.51 $187,664.43
212 $187,664.43 $464.17 $0.00 $1,061.08 $189,189.68
213 $189,189.68 $464.17 $0.00 $1,069.71 $190,723.56
214 $190,723.56 $464.17 $0.00 $1,078.38 $192,266.11
215 $192,266.11 $464.17 $0.00 $1,087.10 $193,817.38
216 $193,817.38 $464.17 $0.00 $1,095.87 $195,377.42
217 $195,377.42 $464.17 $54,418.47 $1,104.69 $142,527.81
218 $142,527.81 $464.17 $0.00 $805.87 $143,797.85
219 $143,797.85 $464.17 $0.00 $813.05 $145,075.07
220 $145,075.07 $464.17 $0.00 $820.28 $146,359.52
221 $146,359.52 $464.17 $0.00 $827.54 $147,651.23
222 $147,651.23 $464.17 $0.00 $834.84 $148,950.24
223 $148,950.24 $464.17 $0.00 $842.19 $150,256.60
224 $150,256.60 $464.17 $0.00 $849.57 $151,570.34
225 $151,570.34 $464.17 $0.00 $857.00 $152,891.51
226 $152,891.51 $464.17 $0.00 $864.47 $154,220.15
227 $154,220.15 $464.17 $0.00 $871.98 $155,556.30
228 $155,556.30 $464.17 $0.00 $879.54 $156,900.01
229 $156,900.01 $464.17 $57,139.40 $887.14 $101,111.92
230 $101,111.92 $464.17 $0.00 $571.70 $102,147.79
231 $102,147.79 $464.17 $0.00 $577.56 $103,189.52
232 $103,189.52 $464.17 $0.00 $583.45 $104,237.14
233 $104,237.14 $464.17 $0.00 $589.37 $105,290.68
234 $105,290.68 $464.17 $0.00 $595.33 $106,350.18
235 $106,350.18 $464.17 $0.00 $601.32 $107,415.67
236 $107,415.67 $464.17 $0.00 $607.34 $108,487.18
237 $108,487.18 $464.17 $0.00 $613.40 $109,564.75
238 $109,564.75 $464.17 $0.00 $619.50 $110,648.42
239 $110,648.42 $464.17 $0.00 $625.62 $111,738.21
240 $111,738.21 $464.17 $0.00 $631.78 $112,834.16
241 $112,834.16 $464.17 $59,996.37 $637.98 $53,939.94
242 $53,939.94 $464.17 $0.00 $304.98 $54,709.09
243 $54,709.09 $464.17 $0.00 $309.33 $55,482.59
244 $55,482.59 $464.17 $0.00 $313.71 $56,260.47
245 $56,260.47 $464.17 $0.00 $318.10 $57,042.74
246 $57,042.74 $464.17 $0.00 $322.53 $57,829.44
247 $57,829.44 $464.17 $0.00 $326.98 $58,620.59
248 $58,620.59 $464.17 $0.00 $331.45 $59,416.21
249 $59,416.21 $464.17 $0.00 $335.95 $60,216.33
250 $60,216.33 $464.17 $0.00 $340.47 $61,020.97
251 $61,020.97 $464.17 $0.00 $345.02 $61,830.16
252 $61,830.16 $464.17 $0.00 $349.60 $62,643.93
253 $62,643.93 $0.00 $62,996.19 $354.20 $1.94