Savings Plan and Future Cost Estimation for Morgan State University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2039$61,425
Monthly savings required$486

How much will it cost to send your child to Morgan State University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $245,701.22 for students enrolling in 2039 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $486.23 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$23,687.00
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 $486.23 $0.00 $0.00 $486.23
2 $486.23 $486.23 $0.00 $2.75 $975.21
3 $975.21 $486.23 $0.00 $5.51 $1,466.95
4 $1,466.95 $486.23 $0.00 $8.29 $1,961.47
5 $1,961.47 $486.23 $0.00 $11.09 $2,458.79
6 $2,458.79 $486.23 $0.00 $13.90 $2,958.92
7 $2,958.92 $486.23 $0.00 $16.73 $3,461.88
8 $3,461.88 $486.23 $0.00 $19.57 $3,967.68
9 $3,967.68 $486.23 $0.00 $22.43 $4,476.34
10 $4,476.34 $486.23 $0.00 $25.31 $4,987.88
11 $4,987.88 $486.23 $0.00 $28.20 $5,502.31
12 $5,502.31 $486.23 $0.00 $31.11 $6,019.65
13 $6,019.65 $486.23 $0.00 $34.04 $6,539.92
14 $6,539.92 $486.23 $0.00 $36.98 $7,063.13
15 $7,063.13 $486.23 $0.00 $39.94 $7,589.30
16 $7,589.30 $486.23 $0.00 $42.91 $8,118.44
17 $8,118.44 $486.23 $0.00 $45.90 $8,650.57
18 $8,650.57 $486.23 $0.00 $48.91 $9,185.71
19 $9,185.71 $486.23 $0.00 $51.94 $9,723.88
20 $9,723.88 $486.23 $0.00 $54.98 $10,265.09
21 $10,265.09 $486.23 $0.00 $58.04 $10,809.36
22 $10,809.36 $486.23 $0.00 $61.12 $11,356.71
23 $11,356.71 $486.23 $0.00 $64.21 $11,907.15
24 $11,907.15 $486.23 $0.00 $67.32 $12,460.70
25 $12,460.70 $486.23 $0.00 $70.45 $13,017.38
26 $13,017.38 $486.23 $0.00 $73.60 $13,577.21
27 $13,577.21 $486.23 $0.00 $76.77 $14,140.21
28 $14,140.21 $486.23 $0.00 $79.95 $14,706.39
29 $14,706.39 $486.23 $0.00 $83.15 $15,275.77
30 $15,275.77 $486.23 $0.00 $86.37 $15,848.37
31 $15,848.37 $486.23 $0.00 $89.61 $16,424.21
32 $16,424.21 $486.23 $0.00 $92.86 $17,003.30
33 $17,003.30 $486.23 $0.00 $96.14 $17,585.67
34 $17,585.67 $486.23 $0.00 $99.43 $18,171.33
35 $18,171.33 $486.23 $0.00 $102.74 $18,760.30
36 $18,760.30 $486.23 $0.00 $106.07 $19,352.60
37 $19,352.60 $486.23 $0.00 $109.42 $19,948.25
38 $19,948.25 $486.23 $0.00 $112.79 $20,547.27
39 $20,547.27 $486.23 $0.00 $116.18 $21,149.68
40 $21,149.68 $486.23 $0.00 $119.58 $21,755.49
41 $21,755.49 $486.23 $0.00 $123.01 $22,364.73
42 $22,364.73 $486.23 $0.00 $126.45 $22,977.41
43 $22,977.41 $486.23 $0.00 $129.92 $23,593.56
44 $23,593.56 $486.23 $0.00 $133.40 $24,213.19
45 $24,213.19 $486.23 $0.00 $136.90 $24,836.32
46 $24,836.32 $486.23 $0.00 $140.43 $25,462.98
47 $25,462.98 $486.23 $0.00 $143.97 $26,093.18
48 $26,093.18 $486.23 $0.00 $147.53 $26,726.94
49 $26,726.94 $486.23 $0.00 $151.12 $27,364.29
50 $27,364.29 $486.23 $0.00 $154.72 $28,005.24
51 $28,005.24 $486.23 $0.00 $158.35 $28,649.82
52 $28,649.82 $486.23 $0.00 $161.99 $29,298.04
53 $29,298.04 $486.23 $0.00 $165.66 $29,949.93
54 $29,949.93 $486.23 $0.00 $169.34 $30,605.50
55 $30,605.50 $486.23 $0.00 $173.05 $31,264.78
56 $31,264.78 $486.23 $0.00 $176.78 $31,927.79
57 $31,927.79 $486.23 $0.00 $180.52 $32,594.54
58 $32,594.54 $486.23 $0.00 $184.29 $33,265.06
59 $33,265.06 $486.23 $0.00 $188.09 $33,939.38
60 $33,939.38 $486.23 $0.00 $191.90 $34,617.51
61 $34,617.51 $486.23 $0.00 $195.73 $35,299.47
62 $35,299.47 $486.23 $0.00 $199.59 $35,985.29
63 $35,985.29 $486.23 $0.00 $203.47 $36,674.99
64 $36,674.99 $486.23 $0.00 $207.37 $37,368.59
65 $37,368.59 $486.23 $0.00 $211.29 $38,066.11
66 $38,066.11 $486.23 $0.00 $215.23 $38,767.57
67 $38,767.57 $486.23 $0.00 $219.20 $39,473.00
68 $39,473.00 $486.23 $0.00 $223.19 $40,182.42
69 $40,182.42 $486.23 $0.00 $227.20 $40,895.85
70 $40,895.85 $486.23 $0.00 $231.23 $41,613.31
71 $41,613.31 $486.23 $0.00 $235.29 $42,334.83
72 $42,334.83 $486.23 $0.00 $239.37 $43,060.43
73 $43,060.43 $486.23 $0.00 $243.47 $43,790.13
74 $43,790.13 $486.23 $0.00 $247.60 $44,523.96
75 $44,523.96 $486.23 $0.00 $251.74 $45,261.93
76 $45,261.93 $486.23 $0.00 $255.92 $46,004.08
77 $46,004.08 $486.23 $0.00 $260.11 $46,750.42
78 $46,750.42 $486.23 $0.00 $264.33 $47,500.98
79 $47,500.98 $486.23 $0.00 $268.58 $48,255.79
80 $48,255.79 $486.23 $0.00 $272.85 $49,014.87
81 $49,014.87 $486.23 $0.00 $277.14 $49,778.24
82 $49,778.24 $486.23 $0.00 $281.45 $50,545.92
83 $50,545.92 $486.23 $0.00 $285.79 $51,317.94
84 $51,317.94 $486.23 $0.00 $290.16 $52,094.33
85 $52,094.33 $486.23 $0.00 $294.55 $52,875.11
86 $52,875.11 $486.23 $0.00 $298.96 $53,660.30
87 $53,660.30 $486.23 $0.00 $303.40 $54,449.93
88 $54,449.93 $486.23 $0.00 $307.87 $55,244.03
89 $55,244.03 $486.23 $0.00 $312.36 $56,042.62
90 $56,042.62 $486.23 $0.00 $316.87 $56,845.72
91 $56,845.72 $486.23 $0.00 $321.41 $57,653.36
92 $57,653.36 $486.23 $0.00 $325.98 $58,465.57
93 $58,465.57 $486.23 $0.00 $330.57 $59,282.37
94 $59,282.37 $486.23 $0.00 $335.19 $60,103.79
95 $60,103.79 $486.23 $0.00 $339.84 $60,929.86
96 $60,929.86 $486.23 $0.00 $344.51 $61,760.60
97 $61,760.60 $486.23 $0.00 $349.20 $62,596.03
98 $62,596.03 $486.23 $0.00 $353.93 $63,436.19
99 $63,436.19 $486.23 $0.00 $358.68 $64,281.10
100 $64,281.10 $486.23 $0.00 $363.45 $65,130.78
101 $65,130.78 $486.23 $0.00 $368.26 $65,985.27
102 $65,985.27 $486.23 $0.00 $373.09 $66,844.59
103 $66,844.59 $486.23 $0.00 $377.95 $67,708.77
104 $67,708.77 $486.23 $0.00 $382.84 $68,577.84
105 $68,577.84 $486.23 $0.00 $387.75 $69,451.82
106 $69,451.82 $486.23 $0.00 $392.69 $70,330.74
107 $70,330.74 $486.23 $0.00 $397.66 $71,214.63
108 $71,214.63 $486.23 $0.00 $402.66 $72,103.52
109 $72,103.52 $486.23 $0.00 $407.68 $72,997.43
110 $72,997.43 $486.23 $0.00 $412.74 $73,896.40
111 $73,896.40 $486.23 $0.00 $417.82 $74,800.45
112 $74,800.45 $486.23 $0.00 $422.93 $75,709.61
113 $75,709.61 $486.23 $0.00 $428.07 $76,623.91
114 $76,623.91 $486.23 $0.00 $433.24 $77,543.38
115 $77,543.38 $486.23 $0.00 $438.44 $78,468.05
116 $78,468.05 $486.23 $0.00 $443.67 $79,397.95
117 $79,397.95 $486.23 $0.00 $448.93 $80,333.11
118 $80,333.11 $486.23 $0.00 $454.22 $81,273.56
119 $81,273.56 $486.23 $0.00 $459.53 $82,219.32
120 $82,219.32 $486.23 $0.00 $464.88 $83,170.43
121 $83,170.43 $486.23 $0.00 $470.26 $84,126.92
122 $84,126.92 $486.23 $0.00 $475.67 $85,088.82
123 $85,088.82 $486.23 $0.00 $481.10 $86,056.15
124 $86,056.15 $486.23 $0.00 $486.57 $87,028.95
125 $87,028.95 $486.23 $0.00 $492.07 $88,007.25
126 $88,007.25 $486.23 $0.00 $497.61 $88,991.09
127 $88,991.09 $486.23 $0.00 $503.17 $89,980.49
128 $89,980.49 $486.23 $0.00 $508.76 $90,975.48
129 $90,975.48 $486.23 $0.00 $514.39 $91,976.10
130 $91,976.10 $486.23 $0.00 $520.05 $92,982.38
131 $92,982.38 $486.23 $0.00 $525.74 $93,994.35
132 $93,994.35 $486.23 $0.00 $531.46 $95,012.04
133 $95,012.04 $486.23 $0.00 $537.21 $96,035.48
134 $96,035.48 $486.23 $0.00 $543.00 $97,064.71
135 $97,064.71 $486.23 $0.00 $548.82 $98,099.76
136 $98,099.76 $486.23 $0.00 $554.67 $99,140.66
137 $99,140.66 $486.23 $0.00 $560.56 $100,187.45
138 $100,187.45 $486.23 $0.00 $566.47 $101,240.15
139 $101,240.15 $486.23 $0.00 $572.43 $102,298.81
140 $102,298.81 $486.23 $0.00 $578.41 $103,363.45
141 $103,363.45 $486.23 $0.00 $584.43 $104,434.11
142 $104,434.11 $486.23 $0.00 $590.49 $105,510.83
143 $105,510.83 $486.23 $0.00 $596.57 $106,593.63
144 $106,593.63 $486.23 $0.00 $602.70 $107,682.56
145 $107,682.56 $486.23 $0.00 $608.85 $108,777.64
146 $108,777.64 $486.23 $0.00 $615.04 $109,878.91
147 $109,878.91 $486.23 $0.00 $621.27 $110,986.41
148 $110,986.41 $486.23 $0.00 $627.53 $112,100.17
149 $112,100.17 $486.23 $0.00 $633.83 $113,220.23
150 $113,220.23 $486.23 $0.00 $640.16 $114,346.62
151 $114,346.62 $486.23 $0.00 $646.53 $115,479.38
152 $115,479.38 $486.23 $0.00 $652.94 $116,618.55
153 $116,618.55 $486.23 $0.00 $659.38 $117,764.16
154 $117,764.16 $486.23 $0.00 $665.86 $118,916.25
155 $118,916.25 $486.23 $0.00 $672.37 $120,074.85
156 $120,074.85 $486.23 $0.00 $678.92 $121,240.00
157 $121,240.00 $486.23 $0.00 $685.51 $122,411.74
158 $122,411.74 $486.23 $0.00 $692.13 $123,590.10
159 $123,590.10 $486.23 $0.00 $698.80 $124,775.13
160 $124,775.13 $486.23 $0.00 $705.50 $125,966.86
161 $125,966.86 $486.23 $0.00 $712.23 $127,165.32
162 $127,165.32 $486.23 $0.00 $719.01 $128,370.56
163 $128,370.56 $486.23 $0.00 $725.83 $129,582.62
164 $129,582.62 $486.23 $0.00 $732.68 $130,801.53
165 $130,801.53 $486.23 $0.00 $739.57 $132,027.33
166 $132,027.33 $486.23 $0.00 $746.50 $133,260.06
167 $133,260.06 $486.23 $0.00 $753.47 $134,499.76
168 $134,499.76 $486.23 $0.00 $760.48 $135,746.47
169 $135,746.47 $486.23 $0.00 $767.53 $137,000.23
170 $137,000.23 $486.23 $0.00 $774.62 $138,261.08
171 $138,261.08 $486.23 $0.00 $781.75 $139,529.06
172 $139,529.06 $486.23 $0.00 $788.92 $140,804.21
173 $140,804.21 $486.23 $0.00 $796.13 $142,086.57
174 $142,086.57 $486.23 $0.00 $803.38 $143,376.18
175 $143,376.18 $486.23 $0.00 $810.67 $144,673.08
176 $144,673.08 $486.23 $0.00 $818.00 $145,977.31
177 $145,977.31 $486.23 $0.00 $825.38 $147,288.92
178 $147,288.92 $486.23 $0.00 $832.79 $148,607.94
179 $148,607.94 $486.23 $0.00 $840.25 $149,934.42
180 $149,934.42 $486.23 $0.00 $847.75 $151,268.40
181 $151,268.40 $486.23 $0.00 $855.29 $152,609.92
182 $152,609.92 $486.23 $0.00 $862.88 $153,959.03
183 $153,959.03 $486.23 $0.00 $870.51 $155,315.77
184 $155,315.77 $486.23 $0.00 $878.18 $156,680.18
185 $156,680.18 $486.23 $0.00 $885.89 $158,052.30
186 $158,052.30 $486.23 $0.00 $893.65 $159,432.18
187 $159,432.18 $486.23 $0.00 $901.45 $160,819.86
188 $160,819.86 $486.23 $0.00 $909.30 $162,215.39
189 $162,215.39 $486.23 $0.00 $917.19 $163,618.81
190 $163,618.81 $486.23 $0.00 $925.12 $165,030.16
191 $165,030.16 $486.23 $0.00 $933.10 $166,449.49
192 $166,449.49 $486.23 $0.00 $941.13 $167,876.85
193 $167,876.85 $486.23 $0.00 $949.20 $169,312.28
194 $169,312.28 $486.23 $0.00 $957.32 $170,755.83
195 $170,755.83 $486.23 $0.00 $965.48 $172,207.54
196 $172,207.54 $486.23 $0.00 $973.69 $173,667.46
197 $173,667.46 $486.23 $0.00 $981.94 $175,135.63
198 $175,135.63 $486.23 $0.00 $990.24 $176,612.10
199 $176,612.10 $486.23 $0.00 $998.59 $178,096.92
200 $178,096.92 $486.23 $0.00 $1,006.99 $179,590.14
201 $179,590.14 $486.23 $0.00 $1,015.43 $181,091.80
202 $181,091.80 $486.23 $0.00 $1,023.92 $182,601.95
203 $182,601.95 $486.23 $0.00 $1,032.46 $184,120.64
204 $184,120.64 $486.23 $0.00 $1,041.04 $185,647.91
205 $185,647.91 $486.23 $0.00 $1,049.68 $187,183.82
206 $187,183.82 $486.23 $0.00 $1,058.36 $188,728.41
207 $188,728.41 $486.23 $0.00 $1,067.10 $190,281.74
208 $190,281.74 $486.23 $0.00 $1,075.88 $191,843.85
209 $191,843.85 $486.23 $0.00 $1,084.71 $193,414.79
210 $193,414.79 $486.23 $0.00 $1,093.60 $194,994.62
211 $194,994.62 $486.23 $0.00 $1,102.53 $196,583.38
212 $196,583.38 $486.23 $0.00 $1,111.51 $198,181.12
213 $198,181.12 $486.23 $0.00 $1,120.54 $199,787.89
214 $199,787.89 $486.23 $0.00 $1,129.63 $201,403.75
215 $201,403.75 $486.23 $0.00 $1,138.77 $203,028.75
216 $203,028.75 $486.23 $0.00 $1,147.95 $204,662.93
217 $204,662.93 $486.23 $57,005.59 $1,157.19 $149,300.76
218 $149,300.76 $486.23 $0.00 $844.17 $150,631.16
219 $150,631.16 $486.23 $0.00 $851.69 $151,969.08
220 $151,969.08 $486.23 $0.00 $859.26 $153,314.57
221 $153,314.57 $486.23 $0.00 $866.86 $154,667.66
222 $154,667.66 $486.23 $0.00 $874.51 $156,028.40
223 $156,028.40 $486.23 $0.00 $882.21 $157,396.84
224 $157,396.84 $486.23 $0.00 $889.94 $158,773.01
225 $158,773.01 $486.23 $0.00 $897.73 $160,156.97
226 $160,156.97 $486.23 $0.00 $905.55 $161,548.75
227 $161,548.75 $486.23 $0.00 $913.42 $162,948.40
228 $162,948.40 $486.23 $0.00 $921.33 $164,355.96
229 $164,355.96 $486.23 $59,855.87 $929.29 $105,915.61
230 $105,915.61 $486.23 $0.00 $598.86 $107,000.70
231 $107,000.70 $486.23 $0.00 $605.00 $108,091.93
232 $108,091.93 $486.23 $0.00 $611.17 $109,189.33
233 $109,189.33 $486.23 $0.00 $617.37 $110,292.93
234 $110,292.93 $486.23 $0.00 $623.61 $111,402.77
235 $111,402.77 $486.23 $0.00 $629.89 $112,518.89
236 $112,518.89 $486.23 $0.00 $636.20 $113,641.32
237 $113,641.32 $486.23 $0.00 $642.54 $114,770.09
238 $114,770.09 $486.23 $0.00 $648.93 $115,905.25
239 $115,905.25 $486.23 $0.00 $655.35 $117,046.83
240 $117,046.83 $486.23 $0.00 $661.80 $118,194.86
241 $118,194.86 $486.23 $62,848.66 $668.29 $56,500.72
242 $56,500.72 $486.23 $0.00 $319.46 $57,306.41
243 $57,306.41 $486.23 $0.00 $324.02 $58,116.66
244 $58,116.66 $486.23 $0.00 $328.60 $58,931.49
245 $58,931.49 $486.23 $0.00 $333.21 $59,750.93
246 $59,750.93 $486.23 $0.00 $337.84 $60,575.00
247 $60,575.00 $486.23 $0.00 $342.50 $61,403.73
248 $61,403.73 $486.23 $0.00 $347.19 $62,237.15
249 $62,237.15 $486.23 $0.00 $351.90 $63,075.28
250 $63,075.28 $486.23 $0.00 $356.64 $63,918.15
251 $63,918.15 $486.23 $0.00 $361.40 $64,765.78
252 $64,765.78 $486.23 $0.00 $366.20 $65,618.21
253 $65,618.21 $0.00 $65,991.10 $371.01 ($1.88)