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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$171,670
Monthly savings required$1,359

How much will it cost to send your child to Loyola University Maryland in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $686,681.33 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,358.91 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$66,200.00
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 $1,358.91 $0.00 $0.00 $1,358.91
2 $1,358.91 $1,358.91 $0.00 $7.68 $2,725.50
3 $2,725.50 $1,358.91 $0.00 $15.41 $4,099.82
4 $4,099.82 $1,358.91 $0.00 $23.18 $5,481.91
5 $5,481.91 $1,358.91 $0.00 $31.00 $6,871.82
6 $6,871.82 $1,358.91 $0.00 $38.85 $8,269.58
7 $8,269.58 $1,358.91 $0.00 $46.76 $9,675.25
8 $9,675.25 $1,358.91 $0.00 $54.71 $11,088.87
9 $11,088.87 $1,358.91 $0.00 $62.70 $12,510.48
10 $12,510.48 $1,358.91 $0.00 $70.74 $13,940.13
11 $13,940.13 $1,358.91 $0.00 $78.82 $15,377.86
12 $15,377.86 $1,358.91 $0.00 $86.95 $16,823.72
13 $16,823.72 $1,358.91 $0.00 $95.12 $18,277.75
14 $18,277.75 $1,358.91 $0.00 $103.35 $19,740.01
15 $19,740.01 $1,358.91 $0.00 $111.61 $21,210.53
16 $21,210.53 $1,358.91 $0.00 $119.93 $22,689.37
17 $22,689.37 $1,358.91 $0.00 $128.29 $24,176.57
18 $24,176.57 $1,358.91 $0.00 $136.70 $25,672.18
19 $25,672.18 $1,358.91 $0.00 $145.15 $27,176.24
20 $27,176.24 $1,358.91 $0.00 $153.66 $28,688.81
21 $28,688.81 $1,358.91 $0.00 $162.21 $30,209.93
22 $30,209.93 $1,358.91 $0.00 $170.81 $31,739.65
23 $31,739.65 $1,358.91 $0.00 $179.46 $33,278.02
24 $33,278.02 $1,358.91 $0.00 $188.16 $34,825.09
25 $34,825.09 $1,358.91 $0.00 $196.91 $36,380.91
26 $36,380.91 $1,358.91 $0.00 $205.70 $37,945.52
27 $37,945.52 $1,358.91 $0.00 $214.55 $39,518.98
28 $39,518.98 $1,358.91 $0.00 $223.45 $41,101.34
29 $41,101.34 $1,358.91 $0.00 $232.39 $42,692.64
30 $42,692.64 $1,358.91 $0.00 $241.39 $44,292.94
31 $44,292.94 $1,358.91 $0.00 $250.44 $45,902.29
32 $45,902.29 $1,358.91 $0.00 $259.54 $47,520.74
33 $47,520.74 $1,358.91 $0.00 $268.69 $49,148.34
34 $49,148.34 $1,358.91 $0.00 $277.89 $50,785.14
35 $50,785.14 $1,358.91 $0.00 $287.15 $52,431.20
36 $52,431.20 $1,358.91 $0.00 $296.45 $54,086.56
37 $54,086.56 $1,358.91 $0.00 $305.81 $55,751.28
38 $55,751.28 $1,358.91 $0.00 $315.23 $57,425.42
39 $57,425.42 $1,358.91 $0.00 $324.69 $59,109.02
40 $59,109.02 $1,358.91 $0.00 $334.21 $60,802.14
41 $60,802.14 $1,358.91 $0.00 $343.78 $62,504.83
42 $62,504.83 $1,358.91 $0.00 $353.41 $64,217.15
43 $64,217.15 $1,358.91 $0.00 $363.09 $65,939.15
44 $65,939.15 $1,358.91 $0.00 $372.83 $67,670.89
45 $67,670.89 $1,358.91 $0.00 $382.62 $69,412.42
46 $69,412.42 $1,358.91 $0.00 $392.47 $71,163.80
47 $71,163.80 $1,358.91 $0.00 $402.37 $72,925.08
48 $72,925.08 $1,358.91 $0.00 $412.33 $74,696.32
49 $74,696.32 $1,358.91 $0.00 $422.34 $76,477.57
50 $76,477.57 $1,358.91 $0.00 $432.42 $78,268.90
51 $78,268.90 $1,358.91 $0.00 $442.54 $80,070.35
52 $80,070.35 $1,358.91 $0.00 $452.73 $81,881.99
53 $81,881.99 $1,358.91 $0.00 $462.97 $83,703.87
54 $83,703.87 $1,358.91 $0.00 $473.27 $85,536.05
55 $85,536.05 $1,358.91 $0.00 $483.63 $87,378.59
56 $87,378.59 $1,358.91 $0.00 $494.05 $89,231.55
57 $89,231.55 $1,358.91 $0.00 $504.53 $91,094.99
58 $91,094.99 $1,358.91 $0.00 $515.06 $92,968.96
59 $92,968.96 $1,358.91 $0.00 $525.66 $94,853.53
60 $94,853.53 $1,358.91 $0.00 $536.32 $96,748.76
61 $96,748.76 $1,358.91 $0.00 $547.03 $98,654.70
62 $98,654.70 $1,358.91 $0.00 $557.81 $100,571.42
63 $100,571.42 $1,358.91 $0.00 $568.65 $102,498.98
64 $102,498.98 $1,358.91 $0.00 $579.54 $104,437.43
65 $104,437.43 $1,358.91 $0.00 $590.50 $106,386.84
66 $106,386.84 $1,358.91 $0.00 $601.53 $108,347.28
67 $108,347.28 $1,358.91 $0.00 $612.61 $110,318.80
68 $110,318.80 $1,358.91 $0.00 $623.76 $112,301.47
69 $112,301.47 $1,358.91 $0.00 $634.97 $114,295.35
70 $114,295.35 $1,358.91 $0.00 $646.24 $116,300.50
71 $116,300.50 $1,358.91 $0.00 $657.58 $118,316.99
72 $118,316.99 $1,358.91 $0.00 $668.98 $120,344.88
73 $120,344.88 $1,358.91 $0.00 $680.45 $122,384.24
74 $122,384.24 $1,358.91 $0.00 $691.98 $124,435.13
75 $124,435.13 $1,358.91 $0.00 $703.57 $126,497.61
76 $126,497.61 $1,358.91 $0.00 $715.24 $128,571.76
77 $128,571.76 $1,358.91 $0.00 $726.96 $130,657.63
78 $130,657.63 $1,358.91 $0.00 $738.76 $132,755.30
79 $132,755.30 $1,358.91 $0.00 $750.62 $134,864.83
80 $134,864.83 $1,358.91 $0.00 $762.55 $136,986.29
81 $136,986.29 $1,358.91 $0.00 $774.54 $139,119.74
82 $139,119.74 $1,358.91 $0.00 $786.60 $141,265.25
83 $141,265.25 $1,358.91 $0.00 $798.73 $143,422.89
84 $143,422.89 $1,358.91 $0.00 $810.93 $145,592.73
85 $145,592.73 $1,358.91 $0.00 $823.20 $147,774.84
86 $147,774.84 $1,358.91 $0.00 $835.54 $149,969.29
87 $149,969.29 $1,358.91 $0.00 $847.95 $152,176.15
88 $152,176.15 $1,358.91 $0.00 $860.43 $154,395.49
89 $154,395.49 $1,358.91 $0.00 $872.97 $156,627.37
90 $156,627.37 $1,358.91 $0.00 $885.59 $158,871.87
91 $158,871.87 $1,358.91 $0.00 $898.28 $161,129.06
92 $161,129.06 $1,358.91 $0.00 $911.05 $163,399.02
93 $163,399.02 $1,358.91 $0.00 $923.88 $165,681.81
94 $165,681.81 $1,358.91 $0.00 $936.79 $167,977.51
95 $167,977.51 $1,358.91 $0.00 $949.77 $170,286.19
96 $170,286.19 $1,358.91 $0.00 $962.82 $172,607.92
97 $172,607.92 $1,358.91 $0.00 $975.95 $174,942.78
98 $174,942.78 $1,358.91 $0.00 $989.15 $177,290.84
99 $177,290.84 $1,358.91 $0.00 $1,002.43 $179,652.18
100 $179,652.18 $1,358.91 $0.00 $1,015.78 $182,026.87
101 $182,026.87 $1,358.91 $0.00 $1,029.21 $184,414.99
102 $184,414.99 $1,358.91 $0.00 $1,042.71 $186,816.61
103 $186,816.61 $1,358.91 $0.00 $1,056.29 $189,231.81
104 $189,231.81 $1,358.91 $0.00 $1,069.94 $191,660.66
105 $191,660.66 $1,358.91 $0.00 $1,083.68 $194,103.25
106 $194,103.25 $1,358.91 $0.00 $1,097.49 $196,559.65
107 $196,559.65 $1,358.91 $0.00 $1,111.38 $199,029.94
108 $199,029.94 $1,358.91 $0.00 $1,125.34 $201,514.19
109 $201,514.19 $1,358.91 $0.00 $1,139.39 $204,012.49
110 $204,012.49 $1,358.91 $0.00 $1,153.52 $206,524.92
111 $206,524.92 $1,358.91 $0.00 $1,167.72 $209,051.55
112 $209,051.55 $1,358.91 $0.00 $1,182.01 $211,592.47
113 $211,592.47 $1,358.91 $0.00 $1,196.37 $214,147.75
114 $214,147.75 $1,358.91 $0.00 $1,210.82 $216,717.48
115 $216,717.48 $1,358.91 $0.00 $1,225.35 $219,301.74
116 $219,301.74 $1,358.91 $0.00 $1,239.96 $221,900.61
117 $221,900.61 $1,358.91 $0.00 $1,254.66 $224,514.18
118 $224,514.18 $1,358.91 $0.00 $1,269.44 $227,142.53
119 $227,142.53 $1,358.91 $0.00 $1,284.30 $229,785.74
120 $229,785.74 $1,358.91 $0.00 $1,299.24 $232,443.89
121 $232,443.89 $1,358.91 $0.00 $1,314.27 $235,117.07
122 $235,117.07 $1,358.91 $0.00 $1,329.39 $237,805.37
123 $237,805.37 $1,358.91 $0.00 $1,344.59 $240,508.87
124 $240,508.87 $1,358.91 $0.00 $1,359.87 $243,227.65
125 $243,227.65 $1,358.91 $0.00 $1,375.24 $245,961.80
126 $245,961.80 $1,358.91 $0.00 $1,390.70 $248,711.41
127 $248,711.41 $1,358.91 $0.00 $1,406.25 $251,476.57
128 $251,476.57 $1,358.91 $0.00 $1,421.89 $254,257.37
129 $254,257.37 $1,358.91 $0.00 $1,437.61 $257,053.89
130 $257,053.89 $1,358.91 $0.00 $1,453.42 $259,866.22
131 $259,866.22 $1,358.91 $0.00 $1,469.32 $262,694.45
132 $262,694.45 $1,358.91 $0.00 $1,485.31 $265,538.67
133 $265,538.67 $1,358.91 $0.00 $1,501.39 $268,398.97
134 $268,398.97 $1,358.91 $0.00 $1,517.57 $271,275.45
135 $271,275.45 $1,358.91 $0.00 $1,533.83 $274,168.19
136 $274,168.19 $1,358.91 $0.00 $1,550.19 $277,077.29
137 $277,077.29 $1,358.91 $0.00 $1,566.64 $280,002.84
138 $280,002.84 $1,358.91 $0.00 $1,583.18 $282,944.93
139 $282,944.93 $1,358.91 $0.00 $1,599.81 $285,903.65
140 $285,903.65 $1,358.91 $0.00 $1,616.54 $288,879.10
141 $288,879.10 $1,358.91 $0.00 $1,633.36 $291,871.37
142 $291,871.37 $1,358.91 $0.00 $1,650.28 $294,880.56
143 $294,880.56 $1,358.91 $0.00 $1,667.30 $297,906.77
144 $297,906.77 $1,358.91 $0.00 $1,684.41 $300,950.09
145 $300,950.09 $1,358.91 $0.00 $1,701.62 $304,010.62
146 $304,010.62 $1,358.91 $0.00 $1,718.92 $307,088.45
147 $307,088.45 $1,358.91 $0.00 $1,736.32 $310,183.68
148 $310,183.68 $1,358.91 $0.00 $1,753.82 $313,296.41
149 $313,296.41 $1,358.91 $0.00 $1,771.42 $316,426.74
150 $316,426.74 $1,358.91 $0.00 $1,789.12 $319,574.77
151 $319,574.77 $1,358.91 $0.00 $1,806.92 $322,740.60
152 $322,740.60 $1,358.91 $0.00 $1,824.82 $325,924.33
153 $325,924.33 $1,358.91 $0.00 $1,842.82 $329,126.06
154 $329,126.06 $1,358.91 $0.00 $1,860.93 $332,345.90
155 $332,345.90 $1,358.91 $0.00 $1,879.13 $335,583.94
156 $335,583.94 $1,358.91 $0.00 $1,897.44 $338,840.29
157 $338,840.29 $1,358.91 $0.00 $1,915.85 $342,115.05
158 $342,115.05 $1,358.91 $0.00 $1,934.37 $345,408.33
159 $345,408.33 $1,358.91 $0.00 $1,952.99 $348,720.23
160 $348,720.23 $1,358.91 $0.00 $1,971.71 $352,050.85
161 $352,050.85 $1,358.91 $0.00 $1,990.55 $355,400.31
162 $355,400.31 $1,358.91 $0.00 $2,009.49 $358,768.71
163 $358,768.71 $1,358.91 $0.00 $2,028.53 $362,156.15
164 $362,156.15 $1,358.91 $0.00 $2,047.68 $365,562.74
165 $365,562.74 $1,358.91 $0.00 $2,066.94 $368,988.59
166 $368,988.59 $1,358.91 $0.00 $2,086.32 $372,433.82
167 $372,433.82 $1,358.91 $0.00 $2,105.79 $375,898.52
168 $375,898.52 $1,358.91 $0.00 $2,125.38 $379,382.81
169 $379,382.81 $1,358.91 $0.00 $2,145.09 $382,886.81
170 $382,886.81 $1,358.91 $0.00 $2,164.90 $386,410.62
171 $386,410.62 $1,358.91 $0.00 $2,184.82 $389,954.35
172 $389,954.35 $1,358.91 $0.00 $2,204.86 $393,518.12
173 $393,518.12 $1,358.91 $0.00 $2,225.01 $397,102.04
174 $397,102.04 $1,358.91 $0.00 $2,245.27 $400,706.22
175 $400,706.22 $1,358.91 $0.00 $2,265.65 $404,330.78
176 $404,330.78 $1,358.91 $0.00 $2,286.15 $407,975.84
177 $407,975.84 $1,358.91 $0.00 $2,306.75 $411,641.50
178 $411,641.50 $1,358.91 $0.00 $2,327.48 $415,327.89
179 $415,327.89 $1,358.91 $0.00 $2,348.32 $419,035.12
180 $419,035.12 $1,358.91 $0.00 $2,369.29 $422,763.32
181 $422,763.32 $1,358.91 $0.00 $2,390.37 $426,512.60
182 $426,512.60 $1,358.91 $0.00 $2,411.56 $430,283.07
183 $430,283.07 $1,358.91 $0.00 $2,432.88 $434,074.86
184 $434,074.86 $1,358.91 $0.00 $2,454.32 $437,888.09
185 $437,888.09 $1,358.91 $0.00 $2,475.88 $441,722.88
186 $441,722.88 $1,358.91 $0.00 $2,497.57 $445,579.36
187 $445,579.36 $1,358.91 $0.00 $2,519.37 $449,457.64
188 $449,457.64 $1,358.91 $0.00 $2,541.30 $453,357.85
189 $453,357.85 $1,358.91 $0.00 $2,563.35 $457,280.11
190 $457,280.11 $1,358.91 $0.00 $2,585.53 $461,224.55
191 $461,224.55 $1,358.91 $0.00 $2,607.83 $465,191.29
192 $465,191.29 $1,358.91 $0.00 $2,630.26 $469,180.46
193 $469,180.46 $1,358.91 $0.00 $2,652.81 $473,192.18
194 $473,192.18 $1,358.91 $0.00 $2,675.50 $477,226.59
195 $477,226.59 $1,358.91 $0.00 $2,698.31 $481,283.81
196 $481,283.81 $1,358.91 $0.00 $2,721.25 $485,363.97
197 $485,363.97 $1,358.91 $0.00 $2,744.32 $489,467.20
198 $489,467.20 $1,358.91 $0.00 $2,767.52 $493,593.63
199 $493,593.63 $1,358.91 $0.00 $2,790.85 $497,743.39
200 $497,743.39 $1,358.91 $0.00 $2,814.31 $501,916.61
201 $501,916.61 $1,358.91 $0.00 $2,837.91 $506,113.43
202 $506,113.43 $1,358.91 $0.00 $2,861.64 $510,333.98
203 $510,333.98 $1,358.91 $0.00 $2,885.50 $514,578.39
204 $514,578.39 $1,358.91 $0.00 $2,909.50 $518,846.80
205 $518,846.80 $1,358.91 $0.00 $2,933.64 $523,139.35
206 $523,139.35 $1,358.91 $0.00 $2,957.91 $527,456.17
207 $527,456.17 $1,358.91 $0.00 $2,982.31 $531,797.39
208 $531,797.39 $1,358.91 $0.00 $3,006.86 $536,163.16
209 $536,163.16 $1,358.91 $0.00 $3,031.54 $540,553.61
210 $540,553.61 $1,358.91 $0.00 $3,056.37 $544,968.89
211 $544,968.89 $1,358.91 $0.00 $3,081.33 $549,409.13
212 $549,409.13 $1,358.91 $0.00 $3,106.44 $553,874.48
213 $553,874.48 $1,358.91 $0.00 $3,131.69 $558,365.08
214 $558,365.08 $1,358.91 $0.00 $3,157.08 $562,881.07
215 $562,881.07 $1,358.91 $0.00 $3,182.61 $567,422.59
216 $567,422.59 $1,358.91 $0.00 $3,208.29 $571,989.79
217 $571,989.79 $1,358.91 $159,318.19 $3,234.11 $417,264.62
218 $417,264.62 $1,358.91 $0.00 $2,359.27 $420,982.80
219 $420,982.80 $1,358.91 $0.00 $2,380.30 $424,722.01
220 $424,722.01 $1,358.91 $0.00 $2,401.44 $428,482.36
221 $428,482.36 $1,358.91 $0.00 $2,422.70 $432,263.97
222 $432,263.97 $1,358.91 $0.00 $2,444.08 $436,066.96
223 $436,066.96 $1,358.91 $0.00 $2,465.59 $439,891.46
224 $439,891.46 $1,358.91 $0.00 $2,487.21 $443,737.58
225 $443,737.58 $1,358.91 $0.00 $2,508.96 $447,605.45
226 $447,605.45 $1,358.91 $0.00 $2,530.83 $451,495.19
227 $451,495.19 $1,358.91 $0.00 $2,552.82 $455,406.92
228 $455,406.92 $1,358.91 $0.00 $2,574.94 $459,340.77
229 $459,340.77 $1,358.91 $167,284.10 $2,597.18 $296,012.76
230 $296,012.76 $1,358.91 $0.00 $1,673.70 $299,045.37
231 $299,045.37 $1,358.91 $0.00 $1,690.85 $302,095.13
232 $302,095.13 $1,358.91 $0.00 $1,708.09 $305,162.13
233 $305,162.13 $1,358.91 $0.00 $1,725.43 $308,246.47
234 $308,246.47 $1,358.91 $0.00 $1,742.87 $311,348.25
235 $311,348.25 $1,358.91 $0.00 $1,760.41 $314,467.57
236 $314,467.57 $1,358.91 $0.00 $1,778.05 $317,604.53
237 $317,604.53 $1,358.91 $0.00 $1,795.78 $320,759.22
238 $320,759.22 $1,358.91 $0.00 $1,813.62 $323,931.75
239 $323,931.75 $1,358.91 $0.00 $1,831.56 $327,122.22
240 $327,122.22 $1,358.91 $0.00 $1,849.60 $330,330.73
241 $330,330.73 $1,358.91 $175,648.31 $1,867.74 $157,909.07
242 $157,909.07 $1,358.91 $0.00 $892.84 $160,160.82
243 $160,160.82 $1,358.91 $0.00 $905.57 $162,425.30
244 $162,425.30 $1,358.91 $0.00 $918.38 $164,702.59
245 $164,702.59 $1,358.91 $0.00 $931.25 $166,992.75
246 $166,992.75 $1,358.91 $0.00 $944.20 $169,295.86
247 $169,295.86 $1,358.91 $0.00 $957.22 $171,611.99
248 $171,611.99 $1,358.91 $0.00 $970.32 $173,941.22
249 $173,941.22 $1,358.91 $0.00 $983.49 $176,283.62
250 $176,283.62 $1,358.91 $0.00 $996.73 $178,639.26
251 $178,639.26 $1,358.91 $0.00 $1,010.05 $181,008.22
252 $181,008.22 $1,358.91 $0.00 $1,023.45 $183,390.58
253 $183,390.58 $0.00 $184,430.72 $1,036.92 ($3.22)