Savings Plan and Future Cost Estimation for American International College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$145,090
Monthly savings required$1,149

How much will it cost to send your child to American International College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $580,359.82 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,148.51 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$55,950.00
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 $1,148.51 $0.00 $0.00 $1,148.51
2 $1,148.51 $1,148.51 $0.00 $6.49 $2,303.51
3 $2,303.51 $1,148.51 $0.00 $13.02 $3,465.04
4 $3,465.04 $1,148.51 $0.00 $19.59 $4,633.14
5 $4,633.14 $1,148.51 $0.00 $26.20 $5,807.85
6 $5,807.85 $1,148.51 $0.00 $32.84 $6,989.20
7 $6,989.20 $1,148.51 $0.00 $39.52 $8,177.23
8 $8,177.23 $1,148.51 $0.00 $46.24 $9,371.98
9 $9,371.98 $1,148.51 $0.00 $52.99 $10,573.48
10 $10,573.48 $1,148.51 $0.00 $59.78 $11,781.77
11 $11,781.77 $1,148.51 $0.00 $66.62 $12,996.90
12 $12,996.90 $1,148.51 $0.00 $73.49 $14,218.90
13 $14,218.90 $1,148.51 $0.00 $80.40 $15,447.81
14 $15,447.81 $1,148.51 $0.00 $87.34 $16,683.66
15 $16,683.66 $1,148.51 $0.00 $94.33 $17,926.50
16 $17,926.50 $1,148.51 $0.00 $101.36 $19,176.37
17 $19,176.37 $1,148.51 $0.00 $108.43 $20,433.31
18 $20,433.31 $1,148.51 $0.00 $115.53 $21,697.35
19 $21,697.35 $1,148.51 $0.00 $122.68 $22,968.54
20 $22,968.54 $1,148.51 $0.00 $129.87 $24,246.92
21 $24,246.92 $1,148.51 $0.00 $137.10 $25,532.53
22 $25,532.53 $1,148.51 $0.00 $144.36 $26,825.40
23 $26,825.40 $1,148.51 $0.00 $151.67 $28,125.58
24 $28,125.58 $1,148.51 $0.00 $159.03 $29,433.12
25 $29,433.12 $1,148.51 $0.00 $166.42 $30,748.05
26 $30,748.05 $1,148.51 $0.00 $173.85 $32,070.41
27 $32,070.41 $1,148.51 $0.00 $181.33 $33,400.25
28 $33,400.25 $1,148.51 $0.00 $188.85 $34,737.61
29 $34,737.61 $1,148.51 $0.00 $196.41 $36,082.53
30 $36,082.53 $1,148.51 $0.00 $204.02 $37,435.06
31 $37,435.06 $1,148.51 $0.00 $211.66 $38,795.23
32 $38,795.23 $1,148.51 $0.00 $219.35 $40,163.09
33 $40,163.09 $1,148.51 $0.00 $227.09 $41,538.69
34 $41,538.69 $1,148.51 $0.00 $234.87 $42,922.07
35 $42,922.07 $1,148.51 $0.00 $242.69 $44,313.27
36 $44,313.27 $1,148.51 $0.00 $250.55 $45,712.33
37 $45,712.33 $1,148.51 $0.00 $258.46 $47,119.30
38 $47,119.30 $1,148.51 $0.00 $266.42 $48,534.23
39 $48,534.23 $1,148.51 $0.00 $274.42 $49,957.16
40 $49,957.16 $1,148.51 $0.00 $282.47 $51,388.14
41 $51,388.14 $1,148.51 $0.00 $290.56 $52,827.21
42 $52,827.21 $1,148.51 $0.00 $298.69 $54,274.41
43 $54,274.41 $1,148.51 $0.00 $306.88 $55,729.80
44 $55,729.80 $1,148.51 $0.00 $315.10 $57,193.41
45 $57,193.41 $1,148.51 $0.00 $323.38 $58,665.30
46 $58,665.30 $1,148.51 $0.00 $331.70 $60,145.51
47 $60,145.51 $1,148.51 $0.00 $340.07 $61,634.09
48 $61,634.09 $1,148.51 $0.00 $348.49 $63,131.09
49 $63,131.09 $1,148.51 $0.00 $356.95 $64,636.55
50 $64,636.55 $1,148.51 $0.00 $365.46 $66,150.52
51 $66,150.52 $1,148.51 $0.00 $374.02 $67,673.05
52 $67,673.05 $1,148.51 $0.00 $382.63 $69,204.19
53 $69,204.19 $1,148.51 $0.00 $391.29 $70,743.99
54 $70,743.99 $1,148.51 $0.00 $400.00 $72,292.50
55 $72,292.50 $1,148.51 $0.00 $408.75 $73,849.76
56 $73,849.76 $1,148.51 $0.00 $417.56 $75,415.83
57 $75,415.83 $1,148.51 $0.00 $426.41 $76,990.75
58 $76,990.75 $1,148.51 $0.00 $435.32 $78,574.58
59 $78,574.58 $1,148.51 $0.00 $444.27 $80,167.36
60 $80,167.36 $1,148.51 $0.00 $453.28 $81,769.15
61 $81,769.15 $1,148.51 $0.00 $462.33 $83,379.99
62 $83,379.99 $1,148.51 $0.00 $471.44 $84,999.94
63 $84,999.94 $1,148.51 $0.00 $480.60 $86,629.05
64 $86,629.05 $1,148.51 $0.00 $489.81 $88,267.37
65 $88,267.37 $1,148.51 $0.00 $499.08 $89,914.96
66 $89,914.96 $1,148.51 $0.00 $508.39 $91,571.86
67 $91,571.86 $1,148.51 $0.00 $517.76 $93,238.13
68 $93,238.13 $1,148.51 $0.00 $527.18 $94,913.82
69 $94,913.82 $1,148.51 $0.00 $536.66 $96,598.99
70 $96,598.99 $1,148.51 $0.00 $546.18 $98,293.68
71 $98,293.68 $1,148.51 $0.00 $555.77 $99,997.96
72 $99,997.96 $1,148.51 $0.00 $565.40 $101,711.87
73 $101,711.87 $1,148.51 $0.00 $575.09 $103,435.47
74 $103,435.47 $1,148.51 $0.00 $584.84 $105,168.82
75 $105,168.82 $1,148.51 $0.00 $594.64 $106,911.97
76 $106,911.97 $1,148.51 $0.00 $604.50 $108,664.98
77 $108,664.98 $1,148.51 $0.00 $614.41 $110,427.90
78 $110,427.90 $1,148.51 $0.00 $624.38 $112,200.79
79 $112,200.79 $1,148.51 $0.00 $634.40 $113,983.70
80 $113,983.70 $1,148.51 $0.00 $644.48 $115,776.69
81 $115,776.69 $1,148.51 $0.00 $654.62 $117,579.82
82 $117,579.82 $1,148.51 $0.00 $664.81 $119,393.14
83 $119,393.14 $1,148.51 $0.00 $675.07 $121,216.72
84 $121,216.72 $1,148.51 $0.00 $685.38 $123,050.61
85 $123,050.61 $1,148.51 $0.00 $695.75 $124,894.87
86 $124,894.87 $1,148.51 $0.00 $706.17 $126,749.55
87 $126,749.55 $1,148.51 $0.00 $716.66 $128,614.72
88 $128,614.72 $1,148.51 $0.00 $727.21 $130,490.44
89 $130,490.44 $1,148.51 $0.00 $737.81 $132,376.76
90 $132,376.76 $1,148.51 $0.00 $748.48 $134,273.75
91 $134,273.75 $1,148.51 $0.00 $759.20 $136,181.46
92 $136,181.46 $1,148.51 $0.00 $769.99 $138,099.96
93 $138,099.96 $1,148.51 $0.00 $780.84 $140,029.31
94 $140,029.31 $1,148.51 $0.00 $791.75 $141,969.57
95 $141,969.57 $1,148.51 $0.00 $802.72 $143,920.80
96 $143,920.80 $1,148.51 $0.00 $813.75 $145,883.06
97 $145,883.06 $1,148.51 $0.00 $824.84 $147,856.41
98 $147,856.41 $1,148.51 $0.00 $836.00 $149,840.92
99 $149,840.92 $1,148.51 $0.00 $847.22 $151,836.65
100 $151,836.65 $1,148.51 $0.00 $858.51 $153,843.67
101 $153,843.67 $1,148.51 $0.00 $869.85 $155,862.03
102 $155,862.03 $1,148.51 $0.00 $881.27 $157,891.81
103 $157,891.81 $1,148.51 $0.00 $892.74 $159,933.06
104 $159,933.06 $1,148.51 $0.00 $904.28 $161,985.85
105 $161,985.85 $1,148.51 $0.00 $915.89 $164,050.25
106 $164,050.25 $1,148.51 $0.00 $927.56 $166,126.32
107 $166,126.32 $1,148.51 $0.00 $939.30 $168,214.13
108 $168,214.13 $1,148.51 $0.00 $951.11 $170,313.75
109 $170,313.75 $1,148.51 $0.00 $962.98 $172,425.24
110 $172,425.24 $1,148.51 $0.00 $974.92 $174,548.67
111 $174,548.67 $1,148.51 $0.00 $986.92 $176,684.10
112 $176,684.10 $1,148.51 $0.00 $999.00 $178,831.61
113 $178,831.61 $1,148.51 $0.00 $1,011.14 $180,991.26
114 $180,991.26 $1,148.51 $0.00 $1,023.35 $183,163.12
115 $183,163.12 $1,148.51 $0.00 $1,035.63 $185,347.26
116 $185,347.26 $1,148.51 $0.00 $1,047.98 $187,543.75
117 $187,543.75 $1,148.51 $0.00 $1,060.40 $189,752.66
118 $189,752.66 $1,148.51 $0.00 $1,072.89 $191,974.06
119 $191,974.06 $1,148.51 $0.00 $1,085.45 $194,208.02
120 $194,208.02 $1,148.51 $0.00 $1,098.08 $196,454.61
121 $196,454.61 $1,148.51 $0.00 $1,110.78 $198,713.90
122 $198,713.90 $1,148.51 $0.00 $1,123.56 $200,985.97
123 $200,985.97 $1,148.51 $0.00 $1,136.40 $203,270.88
124 $203,270.88 $1,148.51 $0.00 $1,149.32 $205,568.71
125 $205,568.71 $1,148.51 $0.00 $1,162.32 $207,879.54
126 $207,879.54 $1,148.51 $0.00 $1,175.38 $210,203.43
127 $210,203.43 $1,148.51 $0.00 $1,188.52 $212,540.46
128 $212,540.46 $1,148.51 $0.00 $1,201.73 $214,890.70
129 $214,890.70 $1,148.51 $0.00 $1,215.02 $217,254.23
130 $217,254.23 $1,148.51 $0.00 $1,228.39 $219,631.13
131 $219,631.13 $1,148.51 $0.00 $1,241.83 $222,021.47
132 $222,021.47 $1,148.51 $0.00 $1,255.34 $224,425.32
133 $224,425.32 $1,148.51 $0.00 $1,268.93 $226,842.76
134 $226,842.76 $1,148.51 $0.00 $1,282.60 $229,273.87
135 $229,273.87 $1,148.51 $0.00 $1,296.35 $231,718.73
136 $231,718.73 $1,148.51 $0.00 $1,310.17 $234,177.41
137 $234,177.41 $1,148.51 $0.00 $1,324.07 $236,649.99
138 $236,649.99 $1,148.51 $0.00 $1,338.05 $239,136.55
139 $239,136.55 $1,148.51 $0.00 $1,352.11 $241,637.17
140 $241,637.17 $1,148.51 $0.00 $1,366.25 $244,151.93
141 $244,151.93 $1,148.51 $0.00 $1,380.47 $246,680.91
142 $246,680.91 $1,148.51 $0.00 $1,394.77 $249,224.19
143 $249,224.19 $1,148.51 $0.00 $1,409.15 $251,781.85
144 $251,781.85 $1,148.51 $0.00 $1,423.61 $254,353.97
145 $254,353.97 $1,148.51 $0.00 $1,438.15 $256,940.63
146 $256,940.63 $1,148.51 $0.00 $1,452.78 $259,541.92
147 $259,541.92 $1,148.51 $0.00 $1,467.49 $262,157.92
148 $262,157.92 $1,148.51 $0.00 $1,482.28 $264,788.71
149 $264,788.71 $1,148.51 $0.00 $1,497.15 $267,434.37
150 $267,434.37 $1,148.51 $0.00 $1,512.11 $270,094.99
151 $270,094.99 $1,148.51 $0.00 $1,527.16 $272,770.66
152 $272,770.66 $1,148.51 $0.00 $1,542.28 $275,461.45
153 $275,461.45 $1,148.51 $0.00 $1,557.50 $278,167.46
154 $278,167.46 $1,148.51 $0.00 $1,572.80 $280,888.77
155 $280,888.77 $1,148.51 $0.00 $1,588.19 $283,625.47
156 $283,625.47 $1,148.51 $0.00 $1,603.66 $286,377.64
157 $286,377.64 $1,148.51 $0.00 $1,619.22 $289,145.37
158 $289,145.37 $1,148.51 $0.00 $1,634.87 $291,928.75
159 $291,928.75 $1,148.51 $0.00 $1,650.61 $294,727.87
160 $294,727.87 $1,148.51 $0.00 $1,666.43 $297,542.81
161 $297,542.81 $1,148.51 $0.00 $1,682.35 $300,373.67
162 $300,373.67 $1,148.51 $0.00 $1,698.36 $303,220.54
163 $303,220.54 $1,148.51 $0.00 $1,714.45 $306,083.50
164 $306,083.50 $1,148.51 $0.00 $1,730.64 $308,962.65
165 $308,962.65 $1,148.51 $0.00 $1,746.92 $311,858.08
166 $311,858.08 $1,148.51 $0.00 $1,763.29 $314,769.88
167 $314,769.88 $1,148.51 $0.00 $1,779.75 $317,698.14
168 $317,698.14 $1,148.51 $0.00 $1,796.31 $320,642.96
169 $320,642.96 $1,148.51 $0.00 $1,812.96 $323,604.43
170 $323,604.43 $1,148.51 $0.00 $1,829.71 $326,582.65
171 $326,582.65 $1,148.51 $0.00 $1,846.55 $329,577.71
172 $329,577.71 $1,148.51 $0.00 $1,863.48 $332,589.70
173 $332,589.70 $1,148.51 $0.00 $1,880.51 $335,618.72
174 $335,618.72 $1,148.51 $0.00 $1,897.64 $338,664.87
175 $338,664.87 $1,148.51 $0.00 $1,914.86 $341,728.24
176 $341,728.24 $1,148.51 $0.00 $1,932.18 $344,808.93
177 $344,808.93 $1,148.51 $0.00 $1,949.60 $347,907.04
178 $347,907.04 $1,148.51 $0.00 $1,967.12 $351,022.67
179 $351,022.67 $1,148.51 $0.00 $1,984.73 $354,155.91
180 $354,155.91 $1,148.51 $0.00 $2,002.45 $357,306.87
181 $357,306.87 $1,148.51 $0.00 $2,020.26 $360,475.64
182 $360,475.64 $1,148.51 $0.00 $2,038.18 $363,662.33
183 $363,662.33 $1,148.51 $0.00 $2,056.20 $366,867.04
184 $366,867.04 $1,148.51 $0.00 $2,074.32 $370,089.87
185 $370,089.87 $1,148.51 $0.00 $2,092.54 $373,330.92
186 $373,330.92 $1,148.51 $0.00 $2,110.87 $376,590.30
187 $376,590.30 $1,148.51 $0.00 $2,129.30 $379,868.11
188 $379,868.11 $1,148.51 $0.00 $2,147.83 $383,164.45
189 $383,164.45 $1,148.51 $0.00 $2,166.47 $386,479.43
190 $386,479.43 $1,148.51 $0.00 $2,185.21 $389,813.15
191 $389,813.15 $1,148.51 $0.00 $2,204.06 $393,165.72
192 $393,165.72 $1,148.51 $0.00 $2,223.02 $396,537.25
193 $396,537.25 $1,148.51 $0.00 $2,242.08 $399,927.84
194 $399,927.84 $1,148.51 $0.00 $2,261.25 $403,337.60
195 $403,337.60 $1,148.51 $0.00 $2,280.53 $406,766.64
196 $406,766.64 $1,148.51 $0.00 $2,299.92 $410,215.07
197 $410,215.07 $1,148.51 $0.00 $2,319.42 $413,683.00
198 $413,683.00 $1,148.51 $0.00 $2,339.02 $417,170.53
199 $417,170.53 $1,148.51 $0.00 $2,358.74 $420,677.78
200 $420,677.78 $1,148.51 $0.00 $2,378.57 $424,204.86
201 $424,204.86 $1,148.51 $0.00 $2,398.52 $427,751.89
202 $427,751.89 $1,148.51 $0.00 $2,418.57 $431,318.97
203 $431,318.97 $1,148.51 $0.00 $2,438.74 $434,906.22
204 $434,906.22 $1,148.51 $0.00 $2,459.02 $438,513.75
205 $438,513.75 $1,148.51 $0.00 $2,479.42 $442,141.68
206 $442,141.68 $1,148.51 $0.00 $2,499.93 $445,790.12
207 $445,790.12 $1,148.51 $0.00 $2,520.56 $449,459.19
208 $449,459.19 $1,148.51 $0.00 $2,541.31 $453,149.01
209 $453,149.01 $1,148.51 $0.00 $2,562.17 $456,859.69
210 $456,859.69 $1,148.51 $0.00 $2,583.15 $460,591.35
211 $460,591.35 $1,148.51 $0.00 $2,604.25 $464,344.11
212 $464,344.11 $1,148.51 $0.00 $2,625.47 $468,118.09
213 $468,118.09 $1,148.51 $0.00 $2,646.81 $471,913.41
214 $471,913.41 $1,148.51 $0.00 $2,668.27 $475,730.19
215 $475,730.19 $1,148.51 $0.00 $2,689.85 $479,568.55
216 $479,568.55 $1,148.51 $0.00 $2,711.55 $483,428.61
217 $483,428.61 $1,148.51 $134,650.35 $2,733.38 $352,660.15
218 $352,660.15 $1,148.51 $0.00 $1,993.99 $355,802.65
219 $355,802.65 $1,148.51 $0.00 $2,011.76 $358,962.92
220 $358,962.92 $1,148.51 $0.00 $2,029.63 $362,141.06
221 $362,141.06 $1,148.51 $0.00 $2,047.60 $365,337.17
222 $365,337.17 $1,148.51 $0.00 $2,065.67 $368,551.35
223 $368,551.35 $1,148.51 $0.00 $2,083.84 $371,783.70
224 $371,783.70 $1,148.51 $0.00 $2,102.12 $375,034.33
225 $375,034.33 $1,148.51 $0.00 $2,120.50 $378,303.34
226 $378,303.34 $1,148.51 $0.00 $2,138.98 $381,590.83
227 $381,590.83 $1,148.51 $0.00 $2,157.57 $384,896.91
228 $384,896.91 $1,148.51 $0.00 $2,176.26 $388,221.68
229 $388,221.68 $1,148.51 $141,382.86 $2,195.06 $250,182.39
230 $250,182.39 $1,148.51 $0.00 $1,414.57 $252,745.47
231 $252,745.47 $1,148.51 $0.00 $1,429.06 $255,323.04
232 $255,323.04 $1,148.51 $0.00 $1,443.63 $257,915.18
233 $257,915.18 $1,148.51 $0.00 $1,458.29 $260,521.98
234 $260,521.98 $1,148.51 $0.00 $1,473.03 $263,143.52
235 $263,143.52 $1,148.51 $0.00 $1,487.85 $265,779.88
236 $265,779.88 $1,148.51 $0.00 $1,502.76 $268,431.15
237 $268,431.15 $1,148.51 $0.00 $1,517.75 $271,097.41
238 $271,097.41 $1,148.51 $0.00 $1,532.82 $273,778.74
239 $273,778.74 $1,148.51 $0.00 $1,547.98 $276,475.23
240 $276,475.23 $1,148.51 $0.00 $1,563.23 $279,186.97
241 $279,186.97 $1,148.51 $148,452.01 $1,578.56 $133,462.03
242 $133,462.03 $1,148.51 $0.00 $754.61 $135,365.15
243 $135,365.15 $1,148.51 $0.00 $765.37 $137,279.03
244 $137,279.03 $1,148.51 $0.00 $776.20 $139,203.74
245 $139,203.74 $1,148.51 $0.00 $787.08 $141,139.33
246 $141,139.33 $1,148.51 $0.00 $798.02 $143,085.86
247 $143,085.86 $1,148.51 $0.00 $809.03 $145,043.40
248 $145,043.40 $1,148.51 $0.00 $820.10 $147,012.01
249 $147,012.01 $1,148.51 $0.00 $831.23 $148,991.75
250 $148,991.75 $1,148.51 $0.00 $842.42 $150,982.68
251 $150,982.68 $1,148.51 $0.00 $853.68 $152,984.87
252 $152,984.87 $1,148.51 $0.00 $865.00 $154,998.38
253 $154,998.38 $0.00 $155,874.61 $876.38 $0.15