Savings Plan and Future Cost Estimation for Notre Dame of Maryland University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$156,217
Monthly savings required$1,237

How much will it cost to send your child to Notre Dame of Maryland University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $624,869.64 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,236.59 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$60,241.00
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 $1,236.59 $0.00 $0.00 $1,236.59
2 $1,236.59 $1,236.59 $0.00 $6.99 $2,480.17
3 $2,480.17 $1,236.59 $0.00 $14.02 $3,730.78
4 $3,730.78 $1,236.59 $0.00 $21.09 $4,988.46
5 $4,988.46 $1,236.59 $0.00 $28.21 $6,253.26
6 $6,253.26 $1,236.59 $0.00 $35.36 $7,525.21
7 $7,525.21 $1,236.59 $0.00 $42.55 $8,804.35
8 $8,804.35 $1,236.59 $0.00 $49.78 $10,090.72
9 $10,090.72 $1,236.59 $0.00 $57.05 $11,384.36
10 $11,384.36 $1,236.59 $0.00 $64.37 $12,685.32
11 $12,685.32 $1,236.59 $0.00 $71.72 $13,993.63
12 $13,993.63 $1,236.59 $0.00 $79.12 $15,309.34
13 $15,309.34 $1,236.59 $0.00 $86.56 $16,632.49
14 $16,632.49 $1,236.59 $0.00 $94.04 $17,963.12
15 $17,963.12 $1,236.59 $0.00 $101.57 $19,301.28
16 $19,301.28 $1,236.59 $0.00 $109.13 $20,647.00
17 $20,647.00 $1,236.59 $0.00 $116.74 $22,000.33
18 $22,000.33 $1,236.59 $0.00 $124.39 $23,361.31
19 $23,361.31 $1,236.59 $0.00 $132.09 $24,729.99
20 $24,729.99 $1,236.59 $0.00 $139.83 $26,106.41
21 $26,106.41 $1,236.59 $0.00 $147.61 $27,490.61
22 $27,490.61 $1,236.59 $0.00 $155.44 $28,882.64
23 $28,882.64 $1,236.59 $0.00 $163.31 $30,282.54
24 $30,282.54 $1,236.59 $0.00 $171.22 $31,690.35
25 $31,690.35 $1,236.59 $0.00 $179.18 $33,106.12
26 $33,106.12 $1,236.59 $0.00 $187.19 $34,529.90
27 $34,529.90 $1,236.59 $0.00 $195.24 $35,961.73
28 $35,961.73 $1,236.59 $0.00 $203.33 $37,401.65
29 $37,401.65 $1,236.59 $0.00 $211.47 $38,849.71
30 $38,849.71 $1,236.59 $0.00 $219.66 $40,305.96
31 $40,305.96 $1,236.59 $0.00 $227.90 $41,770.45
32 $41,770.45 $1,236.59 $0.00 $236.18 $43,243.22
33 $43,243.22 $1,236.59 $0.00 $244.50 $44,724.31
34 $44,724.31 $1,236.59 $0.00 $252.88 $46,213.78
35 $46,213.78 $1,236.59 $0.00 $261.30 $47,711.67
36 $47,711.67 $1,236.59 $0.00 $269.77 $49,218.03
37 $49,218.03 $1,236.59 $0.00 $278.29 $50,732.91
38 $50,732.91 $1,236.59 $0.00 $286.85 $52,256.35
39 $52,256.35 $1,236.59 $0.00 $295.47 $53,788.41
40 $53,788.41 $1,236.59 $0.00 $304.13 $55,329.13
41 $55,329.13 $1,236.59 $0.00 $312.84 $56,878.56
42 $56,878.56 $1,236.59 $0.00 $321.60 $58,436.75
43 $58,436.75 $1,236.59 $0.00 $330.41 $60,003.75
44 $60,003.75 $1,236.59 $0.00 $339.27 $61,579.61
45 $61,579.61 $1,236.59 $0.00 $348.18 $63,164.38
46 $63,164.38 $1,236.59 $0.00 $357.14 $64,758.11
47 $64,758.11 $1,236.59 $0.00 $366.15 $66,360.85
48 $66,360.85 $1,236.59 $0.00 $375.21 $67,972.65
49 $67,972.65 $1,236.59 $0.00 $384.33 $69,593.57
50 $69,593.57 $1,236.59 $0.00 $393.49 $71,223.65
51 $71,223.65 $1,236.59 $0.00 $402.71 $72,862.95
52 $72,862.95 $1,236.59 $0.00 $411.98 $74,511.52
53 $74,511.52 $1,236.59 $0.00 $421.30 $76,169.41
54 $76,169.41 $1,236.59 $0.00 $430.67 $77,836.67
55 $77,836.67 $1,236.59 $0.00 $440.10 $79,513.36
56 $79,513.36 $1,236.59 $0.00 $449.58 $81,199.53
57 $81,199.53 $1,236.59 $0.00 $459.11 $82,895.23
58 $82,895.23 $1,236.59 $0.00 $468.70 $84,600.52
59 $84,600.52 $1,236.59 $0.00 $478.34 $86,315.45
60 $86,315.45 $1,236.59 $0.00 $488.04 $88,040.08
61 $88,040.08 $1,236.59 $0.00 $497.79 $89,774.46
62 $89,774.46 $1,236.59 $0.00 $507.60 $91,518.65
63 $91,518.65 $1,236.59 $0.00 $517.46 $93,272.70
64 $93,272.70 $1,236.59 $0.00 $527.38 $95,036.67
65 $95,036.67 $1,236.59 $0.00 $537.35 $96,810.61
66 $96,810.61 $1,236.59 $0.00 $547.38 $98,594.58
67 $98,594.58 $1,236.59 $0.00 $557.47 $100,388.64
68 $100,388.64 $1,236.59 $0.00 $567.61 $102,192.84
69 $102,192.84 $1,236.59 $0.00 $577.81 $104,007.24
70 $104,007.24 $1,236.59 $0.00 $588.07 $105,831.90
71 $105,831.90 $1,236.59 $0.00 $598.39 $107,666.88
72 $107,666.88 $1,236.59 $0.00 $608.76 $109,512.23
73 $109,512.23 $1,236.59 $0.00 $619.20 $111,368.02
74 $111,368.02 $1,236.59 $0.00 $629.69 $113,234.30
75 $113,234.30 $1,236.59 $0.00 $640.24 $115,111.13
76 $115,111.13 $1,236.59 $0.00 $650.86 $116,998.58
77 $116,998.58 $1,236.59 $0.00 $661.53 $118,896.70
78 $118,896.70 $1,236.59 $0.00 $672.26 $120,805.55
79 $120,805.55 $1,236.59 $0.00 $683.05 $122,725.19
80 $122,725.19 $1,236.59 $0.00 $693.91 $124,655.69
81 $124,655.69 $1,236.59 $0.00 $704.82 $126,597.10
82 $126,597.10 $1,236.59 $0.00 $715.80 $128,549.49
83 $128,549.49 $1,236.59 $0.00 $726.84 $130,512.92
84 $130,512.92 $1,236.59 $0.00 $737.94 $132,487.45
85 $132,487.45 $1,236.59 $0.00 $749.10 $134,473.14
86 $134,473.14 $1,236.59 $0.00 $760.33 $136,470.06
87 $136,470.06 $1,236.59 $0.00 $771.62 $138,478.27
88 $138,478.27 $1,236.59 $0.00 $782.98 $140,497.84
89 $140,497.84 $1,236.59 $0.00 $794.40 $142,528.83
90 $142,528.83 $1,236.59 $0.00 $805.88 $144,571.30
91 $144,571.30 $1,236.59 $0.00 $817.43 $146,625.32
92 $146,625.32 $1,236.59 $0.00 $829.04 $148,690.95
93 $148,690.95 $1,236.59 $0.00 $840.72 $150,768.26
94 $150,768.26 $1,236.59 $0.00 $852.47 $152,857.32
95 $152,857.32 $1,236.59 $0.00 $864.28 $154,958.19
96 $154,958.19 $1,236.59 $0.00 $876.16 $157,070.94
97 $157,070.94 $1,236.59 $0.00 $888.10 $159,195.63
98 $159,195.63 $1,236.59 $0.00 $900.12 $161,332.34
99 $161,332.34 $1,236.59 $0.00 $912.20 $163,481.13
100 $163,481.13 $1,236.59 $0.00 $924.35 $165,642.07
101 $165,642.07 $1,236.59 $0.00 $936.56 $167,815.22
102 $167,815.22 $1,236.59 $0.00 $948.85 $170,000.66
103 $170,000.66 $1,236.59 $0.00 $961.21 $172,198.46
104 $172,198.46 $1,236.59 $0.00 $973.64 $174,408.69
105 $174,408.69 $1,236.59 $0.00 $986.13 $176,631.41
106 $176,631.41 $1,236.59 $0.00 $998.70 $178,866.70
107 $178,866.70 $1,236.59 $0.00 $1,011.34 $181,114.63
108 $181,114.63 $1,236.59 $0.00 $1,024.05 $183,375.27
109 $183,375.27 $1,236.59 $0.00 $1,036.83 $185,648.69
110 $185,648.69 $1,236.59 $0.00 $1,049.68 $187,934.96
111 $187,934.96 $1,236.59 $0.00 $1,062.61 $190,234.16
112 $190,234.16 $1,236.59 $0.00 $1,075.61 $192,546.36
113 $192,546.36 $1,236.59 $0.00 $1,088.69 $194,871.64
114 $194,871.64 $1,236.59 $0.00 $1,101.83 $197,210.06
115 $197,210.06 $1,236.59 $0.00 $1,115.05 $199,561.70
116 $199,561.70 $1,236.59 $0.00 $1,128.35 $201,926.64
117 $201,926.64 $1,236.59 $0.00 $1,141.72 $204,304.95
118 $204,304.95 $1,236.59 $0.00 $1,155.17 $206,696.71
119 $206,696.71 $1,236.59 $0.00 $1,168.69 $209,101.99
120 $209,101.99 $1,236.59 $0.00 $1,182.29 $211,520.87
121 $211,520.87 $1,236.59 $0.00 $1,195.97 $213,953.43
122 $213,953.43 $1,236.59 $0.00 $1,209.72 $216,399.74
123 $216,399.74 $1,236.59 $0.00 $1,223.56 $218,859.89
124 $218,859.89 $1,236.59 $0.00 $1,237.47 $221,333.95
125 $221,333.95 $1,236.59 $0.00 $1,251.45 $223,821.99
126 $223,821.99 $1,236.59 $0.00 $1,265.52 $226,324.10
127 $226,324.10 $1,236.59 $0.00 $1,279.67 $228,840.36
128 $228,840.36 $1,236.59 $0.00 $1,293.90 $231,370.85
129 $231,370.85 $1,236.59 $0.00 $1,308.20 $233,915.64
130 $233,915.64 $1,236.59 $0.00 $1,322.59 $236,474.82
131 $236,474.82 $1,236.59 $0.00 $1,337.06 $239,048.47
132 $239,048.47 $1,236.59 $0.00 $1,351.61 $241,636.67
133 $241,636.67 $1,236.59 $0.00 $1,366.25 $244,239.51
134 $244,239.51 $1,236.59 $0.00 $1,380.97 $246,857.07
135 $246,857.07 $1,236.59 $0.00 $1,395.77 $249,489.43
136 $249,489.43 $1,236.59 $0.00 $1,410.65 $252,136.67
137 $252,136.67 $1,236.59 $0.00 $1,425.62 $254,798.88
138 $254,798.88 $1,236.59 $0.00 $1,440.67 $257,476.14
139 $257,476.14 $1,236.59 $0.00 $1,455.81 $260,168.54
140 $260,168.54 $1,236.59 $0.00 $1,471.03 $262,876.16
141 $262,876.16 $1,236.59 $0.00 $1,486.34 $265,599.09
142 $265,599.09 $1,236.59 $0.00 $1,501.74 $268,337.42
143 $268,337.42 $1,236.59 $0.00 $1,517.22 $271,091.23
144 $271,091.23 $1,236.59 $0.00 $1,532.79 $273,860.61
145 $273,860.61 $1,236.59 $0.00 $1,548.45 $276,645.65
146 $276,645.65 $1,236.59 $0.00 $1,564.19 $279,446.43
147 $279,446.43 $1,236.59 $0.00 $1,580.03 $282,263.05
148 $282,263.05 $1,236.59 $0.00 $1,595.96 $285,095.60
149 $285,095.60 $1,236.59 $0.00 $1,611.97 $287,944.16
150 $287,944.16 $1,236.59 $0.00 $1,628.08 $290,808.83
151 $290,808.83 $1,236.59 $0.00 $1,644.28 $293,689.70
152 $293,689.70 $1,236.59 $0.00 $1,660.56 $296,586.85
153 $296,586.85 $1,236.59 $0.00 $1,676.95 $299,500.39
154 $299,500.39 $1,236.59 $0.00 $1,693.42 $302,430.40
155 $302,430.40 $1,236.59 $0.00 $1,709.99 $305,376.98
156 $305,376.98 $1,236.59 $0.00 $1,726.65 $308,340.22
157 $308,340.22 $1,236.59 $0.00 $1,743.40 $311,320.21
158 $311,320.21 $1,236.59 $0.00 $1,760.25 $314,317.05
159 $314,317.05 $1,236.59 $0.00 $1,777.19 $317,330.83
160 $317,330.83 $1,236.59 $0.00 $1,794.23 $320,361.65
161 $320,361.65 $1,236.59 $0.00 $1,811.37 $323,409.61
162 $323,409.61 $1,236.59 $0.00 $1,828.60 $326,474.80
163 $326,474.80 $1,236.59 $0.00 $1,845.94 $329,557.33
164 $329,557.33 $1,236.59 $0.00 $1,863.37 $332,657.29
165 $332,657.29 $1,236.59 $0.00 $1,880.89 $335,774.77
166 $335,774.77 $1,236.59 $0.00 $1,898.52 $338,909.88
167 $338,909.88 $1,236.59 $0.00 $1,916.25 $342,062.72
168 $342,062.72 $1,236.59 $0.00 $1,934.07 $345,233.38
169 $345,233.38 $1,236.59 $0.00 $1,952.00 $348,421.97
170 $348,421.97 $1,236.59 $0.00 $1,970.03 $351,628.59
171 $351,628.59 $1,236.59 $0.00 $1,988.16 $354,853.34
172 $354,853.34 $1,236.59 $0.00 $2,006.39 $358,096.32
173 $358,096.32 $1,236.59 $0.00 $2,024.73 $361,357.64
174 $361,357.64 $1,236.59 $0.00 $2,043.17 $364,637.40
175 $364,637.40 $1,236.59 $0.00 $2,061.71 $367,935.70
176 $367,935.70 $1,236.59 $0.00 $2,080.36 $371,252.65
177 $371,252.65 $1,236.59 $0.00 $2,099.12 $374,588.36
178 $374,588.36 $1,236.59 $0.00 $2,117.98 $377,942.93
179 $377,942.93 $1,236.59 $0.00 $2,136.94 $381,316.46
180 $381,316.46 $1,236.59 $0.00 $2,156.02 $384,709.07
181 $384,709.07 $1,236.59 $0.00 $2,175.20 $388,120.86
182 $388,120.86 $1,236.59 $0.00 $2,194.49 $391,551.94
183 $391,551.94 $1,236.59 $0.00 $2,213.89 $395,002.42
184 $395,002.42 $1,236.59 $0.00 $2,233.40 $398,472.41
185 $398,472.41 $1,236.59 $0.00 $2,253.02 $401,962.02
186 $401,962.02 $1,236.59 $0.00 $2,272.75 $405,471.36
187 $405,471.36 $1,236.59 $0.00 $2,292.59 $409,000.54
188 $409,000.54 $1,236.59 $0.00 $2,312.55 $412,549.68
189 $412,549.68 $1,236.59 $0.00 $2,332.62 $416,118.89
190 $416,118.89 $1,236.59 $0.00 $2,352.80 $419,708.28
191 $419,708.28 $1,236.59 $0.00 $2,373.09 $423,317.96
192 $423,317.96 $1,236.59 $0.00 $2,393.50 $426,948.05
193 $426,948.05 $1,236.59 $0.00 $2,414.03 $430,598.67
194 $430,598.67 $1,236.59 $0.00 $2,434.67 $434,269.93
195 $434,269.93 $1,236.59 $0.00 $2,455.43 $437,961.95
196 $437,961.95 $1,236.59 $0.00 $2,476.30 $441,674.84
197 $441,674.84 $1,236.59 $0.00 $2,497.29 $445,408.72
198 $445,408.72 $1,236.59 $0.00 $2,518.41 $449,163.72
199 $449,163.72 $1,236.59 $0.00 $2,539.64 $452,939.95
200 $452,939.95 $1,236.59 $0.00 $2,560.99 $456,737.53
201 $456,737.53 $1,236.59 $0.00 $2,582.46 $460,556.58
202 $460,556.58 $1,236.59 $0.00 $2,604.05 $464,397.22
203 $464,397.22 $1,236.59 $0.00 $2,625.77 $468,259.58
204 $468,259.58 $1,236.59 $0.00 $2,647.61 $472,143.78
205 $472,143.78 $1,236.59 $0.00 $2,669.57 $476,049.94
206 $476,049.94 $1,236.59 $0.00 $2,691.66 $479,978.19
207 $479,978.19 $1,236.59 $0.00 $2,713.87 $483,928.65
208 $483,928.65 $1,236.59 $0.00 $2,736.20 $487,901.44
209 $487,901.44 $1,236.59 $0.00 $2,758.67 $491,896.70
210 $491,896.70 $1,236.59 $0.00 $2,781.26 $495,914.55
211 $495,914.55 $1,236.59 $0.00 $2,803.97 $499,955.11
212 $499,955.11 $1,236.59 $0.00 $2,826.82 $504,018.52
213 $504,018.52 $1,236.59 $0.00 $2,849.79 $508,104.90
214 $508,104.90 $1,236.59 $0.00 $2,872.90 $512,214.39
215 $512,214.39 $1,236.59 $0.00 $2,896.13 $516,347.11
216 $516,347.11 $1,236.59 $0.00 $2,919.50 $520,503.20
217 $520,503.20 $1,236.59 $144,977.15 $2,943.00 $379,705.64
218 $379,705.64 $1,236.59 $0.00 $2,146.91 $383,089.14
219 $383,089.14 $1,236.59 $0.00 $2,166.04 $386,491.77
220 $386,491.77 $1,236.59 $0.00 $2,185.28 $389,913.64
221 $389,913.64 $1,236.59 $0.00 $2,204.63 $393,354.86
222 $393,354.86 $1,236.59 $0.00 $2,224.09 $396,815.54
223 $396,815.54 $1,236.59 $0.00 $2,243.65 $400,295.78
224 $400,295.78 $1,236.59 $0.00 $2,263.33 $403,795.70
225 $403,795.70 $1,236.59 $0.00 $2,283.12 $407,315.41
226 $407,315.41 $1,236.59 $0.00 $2,303.02 $410,855.02
227 $410,855.02 $1,236.59 $0.00 $2,323.03 $414,414.64
228 $414,414.64 $1,236.59 $0.00 $2,343.16 $417,994.39
229 $417,994.39 $1,236.59 $152,226.01 $2,363.40 $269,368.37
230 $269,368.37 $1,236.59 $0.00 $1,523.05 $272,128.01
231 $272,128.01 $1,236.59 $0.00 $1,538.65 $274,903.25
232 $274,903.25 $1,236.59 $0.00 $1,554.34 $277,694.18
233 $277,694.18 $1,236.59 $0.00 $1,570.12 $280,500.89
234 $280,500.89 $1,236.59 $0.00 $1,585.99 $283,323.47
235 $283,323.47 $1,236.59 $0.00 $1,601.95 $286,162.01
236 $286,162.01 $1,236.59 $0.00 $1,618.00 $289,016.60
237 $289,016.60 $1,236.59 $0.00 $1,634.14 $291,887.33
238 $291,887.33 $1,236.59 $0.00 $1,650.37 $294,774.29
239 $294,774.29 $1,236.59 $0.00 $1,666.70 $297,677.58
240 $297,677.58 $1,236.59 $0.00 $1,683.11 $300,597.28
241 $300,597.28 $1,236.59 $159,837.31 $1,699.62 $143,696.18
242 $143,696.18 $1,236.59 $0.00 $812.48 $145,745.25
243 $145,745.25 $1,236.59 $0.00 $824.06 $147,805.90
244 $147,805.90 $1,236.59 $0.00 $835.72 $149,878.21
245 $149,878.21 $1,236.59 $0.00 $847.43 $151,962.23
246 $151,962.23 $1,236.59 $0.00 $859.22 $154,058.04
247 $154,058.04 $1,236.59 $0.00 $871.07 $156,165.70
248 $156,165.70 $1,236.59 $0.00 $882.98 $158,285.27
249 $158,285.27 $1,236.59 $0.00 $894.97 $160,416.83
250 $160,416.83 $1,236.59 $0.00 $907.02 $162,560.44
251 $162,560.44 $1,236.59 $0.00 $919.14 $164,716.17
252 $164,716.17 $1,236.59 $0.00 $931.33 $166,884.09
253 $166,884.09 $0.00 $167,829.17 $943.59 ($1.49)