Savings Plan and Future Cost Estimation for Merrimack College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$262,396
Monthly savings required$2,074

How much will it cost to send your child to Merrimack College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $1,049,584.07 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $2,073.77 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$69,941.00
Years until enrollment18
Annual Tuition Increase7%
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 $2,073.77 $0.00 $0.00 $2,073.77
2 $2,073.77 $2,073.77 $0.00 $11.73 $4,159.27
3 $4,159.27 $2,073.77 $0.00 $23.52 $6,256.56
4 $6,256.56 $2,073.77 $0.00 $35.38 $8,365.71
5 $8,365.71 $2,073.77 $0.00 $47.30 $10,486.78
6 $10,486.78 $2,073.77 $0.00 $59.29 $12,619.84
7 $12,619.84 $2,073.77 $0.00 $71.35 $14,764.96
8 $14,764.96 $2,073.77 $0.00 $83.48 $16,922.21
9 $16,922.21 $2,073.77 $0.00 $95.68 $19,091.66
10 $19,091.66 $2,073.77 $0.00 $107.95 $21,273.38
11 $21,273.38 $2,073.77 $0.00 $120.28 $23,467.43
12 $23,467.43 $2,073.77 $0.00 $132.69 $25,673.89
13 $25,673.89 $2,073.77 $0.00 $145.16 $27,892.82
14 $27,892.82 $2,073.77 $0.00 $157.71 $30,124.30
15 $30,124.30 $2,073.77 $0.00 $170.33 $32,368.40
16 $32,368.40 $2,073.77 $0.00 $183.02 $34,625.19
17 $34,625.19 $2,073.77 $0.00 $195.78 $36,894.74
18 $36,894.74 $2,073.77 $0.00 $208.61 $39,177.12
19 $39,177.12 $2,073.77 $0.00 $221.51 $41,472.40
20 $41,472.40 $2,073.77 $0.00 $234.49 $43,780.66
21 $43,780.66 $2,073.77 $0.00 $247.54 $46,101.97
22 $46,101.97 $2,073.77 $0.00 $260.67 $48,436.41
23 $48,436.41 $2,073.77 $0.00 $273.87 $50,784.05
24 $50,784.05 $2,073.77 $0.00 $287.14 $53,144.96
25 $53,144.96 $2,073.77 $0.00 $300.49 $55,519.22
26 $55,519.22 $2,073.77 $0.00 $313.91 $57,906.90
27 $57,906.90 $2,073.77 $0.00 $327.41 $60,308.08
28 $60,308.08 $2,073.77 $0.00 $340.99 $62,722.84
29 $62,722.84 $2,073.77 $0.00 $354.64 $65,151.25
30 $65,151.25 $2,073.77 $0.00 $368.37 $67,593.39
31 $67,593.39 $2,073.77 $0.00 $382.18 $70,049.34
32 $70,049.34 $2,073.77 $0.00 $396.07 $72,519.18
33 $72,519.18 $2,073.77 $0.00 $410.03 $75,002.98
34 $75,002.98 $2,073.77 $0.00 $424.08 $77,500.83
35 $77,500.83 $2,073.77 $0.00 $438.20 $80,012.80
36 $80,012.80 $2,073.77 $0.00 $452.40 $82,538.97
37 $82,538.97 $2,073.77 $0.00 $466.69 $85,079.43
38 $85,079.43 $2,073.77 $0.00 $481.05 $87,634.25
39 $87,634.25 $2,073.77 $0.00 $495.50 $90,203.52
40 $90,203.52 $2,073.77 $0.00 $510.02 $92,787.31
41 $92,787.31 $2,073.77 $0.00 $524.63 $95,385.71
42 $95,385.71 $2,073.77 $0.00 $539.32 $97,998.80
43 $97,998.80 $2,073.77 $0.00 $554.10 $100,626.67
44 $100,626.67 $2,073.77 $0.00 $568.96 $103,269.40
45 $103,269.40 $2,073.77 $0.00 $583.90 $105,927.07
46 $105,927.07 $2,073.77 $0.00 $598.93 $108,599.77
47 $108,599.77 $2,073.77 $0.00 $614.04 $111,287.58
48 $111,287.58 $2,073.77 $0.00 $629.24 $113,990.59
49 $113,990.59 $2,073.77 $0.00 $644.52 $116,708.88
50 $116,708.88 $2,073.77 $0.00 $659.89 $119,442.54
51 $119,442.54 $2,073.77 $0.00 $675.35 $122,191.66
52 $122,191.66 $2,073.77 $0.00 $690.89 $124,956.32
53 $124,956.32 $2,073.77 $0.00 $706.52 $127,736.61
54 $127,736.61 $2,073.77 $0.00 $722.24 $130,532.62
55 $130,532.62 $2,073.77 $0.00 $738.05 $133,344.44
56 $133,344.44 $2,073.77 $0.00 $753.95 $136,172.16
57 $136,172.16 $2,073.77 $0.00 $769.94 $139,015.87
58 $139,015.87 $2,073.77 $0.00 $786.02 $141,875.66
59 $141,875.66 $2,073.77 $0.00 $802.19 $144,751.62
60 $144,751.62 $2,073.77 $0.00 $818.45 $147,643.84
61 $147,643.84 $2,073.77 $0.00 $834.80 $150,552.41
62 $150,552.41 $2,073.77 $0.00 $851.25 $153,477.43
63 $153,477.43 $2,073.77 $0.00 $867.78 $156,418.98
64 $156,418.98 $2,073.77 $0.00 $884.42 $159,377.17
65 $159,377.17 $2,073.77 $0.00 $901.14 $162,352.08
66 $162,352.08 $2,073.77 $0.00 $917.96 $165,343.81
67 $165,343.81 $2,073.77 $0.00 $934.88 $168,352.46
68 $168,352.46 $2,073.77 $0.00 $951.89 $171,378.12
69 $171,378.12 $2,073.77 $0.00 $969.00 $174,420.89
70 $174,420.89 $2,073.77 $0.00 $986.20 $177,480.86
71 $177,480.86 $2,073.77 $0.00 $1,003.50 $180,558.13
72 $180,558.13 $2,073.77 $0.00 $1,020.90 $183,652.80
73 $183,652.80 $2,073.77 $0.00 $1,038.40 $186,764.97
74 $186,764.97 $2,073.77 $0.00 $1,056.00 $189,894.74
75 $189,894.74 $2,073.77 $0.00 $1,073.69 $193,042.20
76 $193,042.20 $2,073.77 $0.00 $1,091.49 $196,207.46
77 $196,207.46 $2,073.77 $0.00 $1,109.39 $199,390.62
78 $199,390.62 $2,073.77 $0.00 $1,127.38 $202,591.77
79 $202,591.77 $2,073.77 $0.00 $1,145.48 $205,811.02
80 $205,811.02 $2,073.77 $0.00 $1,163.69 $209,048.48
81 $209,048.48 $2,073.77 $0.00 $1,181.99 $212,304.24
82 $212,304.24 $2,073.77 $0.00 $1,200.40 $215,578.41
83 $215,578.41 $2,073.77 $0.00 $1,218.91 $218,871.09
84 $218,871.09 $2,073.77 $0.00 $1,237.53 $222,182.39
85 $222,182.39 $2,073.77 $0.00 $1,256.25 $225,512.41
86 $225,512.41 $2,073.77 $0.00 $1,275.08 $228,861.26
87 $228,861.26 $2,073.77 $0.00 $1,294.01 $232,229.04
88 $232,229.04 $2,073.77 $0.00 $1,313.06 $235,615.87
89 $235,615.87 $2,073.77 $0.00 $1,332.21 $239,021.85
90 $239,021.85 $2,073.77 $0.00 $1,351.46 $242,447.08
91 $242,447.08 $2,073.77 $0.00 $1,370.83 $245,891.68
92 $245,891.68 $2,073.77 $0.00 $1,390.31 $249,355.76
93 $249,355.76 $2,073.77 $0.00 $1,409.89 $252,839.42
94 $252,839.42 $2,073.77 $0.00 $1,429.59 $256,342.78
95 $256,342.78 $2,073.77 $0.00 $1,449.40 $259,865.95
96 $259,865.95 $2,073.77 $0.00 $1,469.32 $263,409.04
97 $263,409.04 $2,073.77 $0.00 $1,489.35 $266,972.16
98 $266,972.16 $2,073.77 $0.00 $1,509.50 $270,555.43
99 $270,555.43 $2,073.77 $0.00 $1,529.76 $274,158.96
100 $274,158.96 $2,073.77 $0.00 $1,550.13 $277,782.86
101 $277,782.86 $2,073.77 $0.00 $1,570.62 $281,427.25
102 $281,427.25 $2,073.77 $0.00 $1,591.23 $285,092.25
103 $285,092.25 $2,073.77 $0.00 $1,611.95 $288,777.97
104 $288,777.97 $2,073.77 $0.00 $1,632.79 $292,484.53
105 $292,484.53 $2,073.77 $0.00 $1,653.75 $296,212.05
106 $296,212.05 $2,073.77 $0.00 $1,674.83 $299,960.65
107 $299,960.65 $2,073.77 $0.00 $1,696.02 $303,730.44
108 $303,730.44 $2,073.77 $0.00 $1,717.34 $307,521.55
109 $307,521.55 $2,073.77 $0.00 $1,738.77 $311,334.09
110 $311,334.09 $2,073.77 $0.00 $1,760.33 $315,168.19
111 $315,168.19 $2,073.77 $0.00 $1,782.01 $319,023.97
112 $319,023.97 $2,073.77 $0.00 $1,803.81 $322,901.55
113 $322,901.55 $2,073.77 $0.00 $1,825.73 $326,801.05
114 $326,801.05 $2,073.77 $0.00 $1,847.78 $330,722.60
115 $330,722.60 $2,073.77 $0.00 $1,869.95 $334,666.32
116 $334,666.32 $2,073.77 $0.00 $1,892.25 $338,632.34
117 $338,632.34 $2,073.77 $0.00 $1,914.68 $342,620.79
118 $342,620.79 $2,073.77 $0.00 $1,937.23 $346,631.79
119 $346,631.79 $2,073.77 $0.00 $1,959.91 $350,665.47
120 $350,665.47 $2,073.77 $0.00 $1,982.71 $354,721.95
121 $354,721.95 $2,073.77 $0.00 $2,005.65 $358,801.37
122 $358,801.37 $2,073.77 $0.00 $2,028.72 $362,903.86
123 $362,903.86 $2,073.77 $0.00 $2,051.91 $367,029.54
124 $367,029.54 $2,073.77 $0.00 $2,075.24 $371,178.55
125 $371,178.55 $2,073.77 $0.00 $2,098.70 $375,351.02
126 $375,351.02 $2,073.77 $0.00 $2,122.29 $379,547.08
127 $379,547.08 $2,073.77 $0.00 $2,146.01 $383,766.86
128 $383,766.86 $2,073.77 $0.00 $2,169.87 $388,010.50
129 $388,010.50 $2,073.77 $0.00 $2,193.87 $392,278.14
130 $392,278.14 $2,073.77 $0.00 $2,218.00 $396,569.91
131 $396,569.91 $2,073.77 $0.00 $2,242.26 $400,885.94
132 $400,885.94 $2,073.77 $0.00 $2,266.67 $405,226.38
133 $405,226.38 $2,073.77 $0.00 $2,291.21 $409,591.36
134 $409,591.36 $2,073.77 $0.00 $2,315.89 $413,981.02
135 $413,981.02 $2,073.77 $0.00 $2,340.71 $418,395.50
136 $418,395.50 $2,073.77 $0.00 $2,365.67 $422,834.94
137 $422,834.94 $2,073.77 $0.00 $2,390.77 $427,299.48
138 $427,299.48 $2,073.77 $0.00 $2,416.01 $431,789.26
139 $431,789.26 $2,073.77 $0.00 $2,441.40 $436,304.43
140 $436,304.43 $2,073.77 $0.00 $2,466.93 $440,845.13
141 $440,845.13 $2,073.77 $0.00 $2,492.60 $445,411.50
142 $445,411.50 $2,073.77 $0.00 $2,518.42 $450,003.69
143 $450,003.69 $2,073.77 $0.00 $2,544.39 $454,621.85
144 $454,621.85 $2,073.77 $0.00 $2,570.50 $459,266.12
145 $459,266.12 $2,073.77 $0.00 $2,596.76 $463,936.65
146 $463,936.65 $2,073.77 $0.00 $2,623.17 $468,633.59
147 $468,633.59 $2,073.77 $0.00 $2,649.72 $473,357.08
148 $473,357.08 $2,073.77 $0.00 $2,676.43 $478,107.28
149 $478,107.28 $2,073.77 $0.00 $2,703.29 $482,884.34
150 $482,884.34 $2,073.77 $0.00 $2,730.30 $487,688.41
151 $487,688.41 $2,073.77 $0.00 $2,757.46 $492,519.64
152 $492,519.64 $2,073.77 $0.00 $2,784.78 $497,378.19
153 $497,378.19 $2,073.77 $0.00 $2,812.25 $502,264.21
154 $502,264.21 $2,073.77 $0.00 $2,839.87 $507,177.85
155 $507,177.85 $2,073.77 $0.00 $2,867.66 $512,119.28
156 $512,119.28 $2,073.77 $0.00 $2,895.60 $517,088.65
157 $517,088.65 $2,073.77 $0.00 $2,923.69 $522,086.11
158 $522,086.11 $2,073.77 $0.00 $2,951.95 $527,111.83
159 $527,111.83 $2,073.77 $0.00 $2,980.37 $532,165.97
160 $532,165.97 $2,073.77 $0.00 $3,008.94 $537,248.68
161 $537,248.68 $2,073.77 $0.00 $3,037.68 $542,360.13
162 $542,360.13 $2,073.77 $0.00 $3,066.58 $547,500.48
163 $547,500.48 $2,073.77 $0.00 $3,095.65 $552,669.90
164 $552,669.90 $2,073.77 $0.00 $3,124.88 $557,868.55
165 $557,868.55 $2,073.77 $0.00 $3,154.27 $563,096.59
166 $563,096.59 $2,073.77 $0.00 $3,183.83 $568,354.19
167 $568,354.19 $2,073.77 $0.00 $3,213.56 $573,641.52
168 $573,641.52 $2,073.77 $0.00 $3,243.45 $578,958.74
169 $578,958.74 $2,073.77 $0.00 $3,273.52 $584,306.03
170 $584,306.03 $2,073.77 $0.00 $3,303.75 $589,683.55
171 $589,683.55 $2,073.77 $0.00 $3,334.16 $595,091.48
172 $595,091.48 $2,073.77 $0.00 $3,364.73 $600,529.98
173 $600,529.98 $2,073.77 $0.00 $3,395.48 $605,999.23
174 $605,999.23 $2,073.77 $0.00 $3,426.41 $611,499.41
175 $611,499.41 $2,073.77 $0.00 $3,457.51 $617,030.69
176 $617,030.69 $2,073.77 $0.00 $3,488.78 $622,593.24
177 $622,593.24 $2,073.77 $0.00 $3,520.23 $628,187.24
178 $628,187.24 $2,073.77 $0.00 $3,551.86 $633,812.87
179 $633,812.87 $2,073.77 $0.00 $3,583.67 $639,470.31
180 $639,470.31 $2,073.77 $0.00 $3,615.66 $645,159.74
181 $645,159.74 $2,073.77 $0.00 $3,647.83 $650,881.34
182 $650,881.34 $2,073.77 $0.00 $3,680.18 $656,635.29
183 $656,635.29 $2,073.77 $0.00 $3,712.71 $662,421.77
184 $662,421.77 $2,073.77 $0.00 $3,745.43 $668,240.97
185 $668,240.97 $2,073.77 $0.00 $3,778.33 $674,093.07
186 $674,093.07 $2,073.77 $0.00 $3,811.42 $679,978.26
187 $679,978.26 $2,073.77 $0.00 $3,844.70 $685,896.73
188 $685,896.73 $2,073.77 $0.00 $3,878.16 $691,848.66
189 $691,848.66 $2,073.77 $0.00 $3,911.81 $697,834.24
190 $697,834.24 $2,073.77 $0.00 $3,945.66 $703,853.67
191 $703,853.67 $2,073.77 $0.00 $3,979.69 $709,907.13
192 $709,907.13 $2,073.77 $0.00 $4,013.92 $715,994.82
193 $715,994.82 $2,073.77 $0.00 $4,048.34 $722,116.93
194 $722,116.93 $2,073.77 $0.00 $4,082.95 $728,273.65
195 $728,273.65 $2,073.77 $0.00 $4,117.77 $734,465.19
196 $734,465.19 $2,073.77 $0.00 $4,152.77 $740,691.73
197 $740,691.73 $2,073.77 $0.00 $4,187.98 $746,953.48
198 $746,953.48 $2,073.77 $0.00 $4,223.38 $753,250.63
199 $753,250.63 $2,073.77 $0.00 $4,258.99 $759,583.39
200 $759,583.39 $2,073.77 $0.00 $4,294.79 $765,951.95
201 $765,951.95 $2,073.77 $0.00 $4,330.80 $772,356.52
202 $772,356.52 $2,073.77 $0.00 $4,367.02 $778,797.31
203 $778,797.31 $2,073.77 $0.00 $4,403.43 $785,274.51
204 $785,274.51 $2,073.77 $0.00 $4,440.06 $791,788.34
205 $791,788.34 $2,073.77 $0.00 $4,476.89 $798,339.00
206 $798,339.00 $2,073.77 $0.00 $4,513.92 $804,926.69
207 $804,926.69 $2,073.77 $0.00 $4,551.17 $811,551.63
208 $811,551.63 $2,073.77 $0.00 $4,588.63 $818,214.03
209 $818,214.03 $2,073.77 $0.00 $4,626.30 $824,914.10
210 $824,914.10 $2,073.77 $0.00 $4,664.18 $831,652.05
211 $831,652.05 $2,073.77 $0.00 $4,702.28 $838,428.10
212 $838,428.10 $2,073.77 $0.00 $4,740.59 $845,242.46
213 $845,242.46 $2,073.77 $0.00 $4,779.12 $852,095.35
214 $852,095.35 $2,073.77 $0.00 $4,817.87 $858,986.99
215 $858,986.99 $2,073.77 $0.00 $4,856.84 $865,917.60
216 $865,917.60 $2,073.77 $0.00 $4,896.02 $872,887.39
217 $872,887.39 $2,073.77 $236,395.84 $4,935.43 $643,500.75
218 $643,500.75 $2,073.77 $0.00 $3,638.45 $649,212.97
219 $649,212.97 $2,073.77 $0.00 $3,670.74 $654,957.48
220 $654,957.48 $2,073.77 $0.00 $3,703.22 $660,734.47
221 $660,734.47 $2,073.77 $0.00 $3,735.89 $666,544.13
222 $666,544.13 $2,073.77 $0.00 $3,768.74 $672,386.64
223 $672,386.64 $2,073.77 $0.00 $3,801.77 $678,262.18
224 $678,262.18 $2,073.77 $0.00 $3,834.99 $684,170.94
225 $684,170.94 $2,073.77 $0.00 $3,868.40 $690,113.11
226 $690,113.11 $2,073.77 $0.00 $3,902.00 $696,088.88
227 $696,088.88 $2,073.77 $0.00 $3,935.79 $702,098.44
228 $702,098.44 $2,073.77 $0.00 $3,969.77 $708,141.98
229 $708,141.98 $2,073.77 $252,943.55 $4,003.94 $461,276.14
230 $461,276.14 $2,073.77 $0.00 $2,608.12 $465,958.03
231 $465,958.03 $2,073.77 $0.00 $2,634.59 $470,666.39
232 $470,666.39 $2,073.77 $0.00 $2,661.22 $475,401.38
233 $475,401.38 $2,073.77 $0.00 $2,687.99 $480,163.14
234 $480,163.14 $2,073.77 $0.00 $2,714.91 $484,951.82
235 $484,951.82 $2,073.77 $0.00 $2,741.99 $489,767.58
236 $489,767.58 $2,073.77 $0.00 $2,769.22 $494,610.57
237 $494,610.57 $2,073.77 $0.00 $2,796.60 $499,480.94
238 $499,480.94 $2,073.77 $0.00 $2,824.14 $504,378.85
239 $504,378.85 $2,073.77 $0.00 $2,851.83 $509,304.45
240 $509,304.45 $2,073.77 $0.00 $2,879.68 $514,257.90
241 $514,257.90 $2,073.77 $270,649.60 $2,907.69 $248,589.76
242 $248,589.76 $2,073.77 $0.00 $1,405.56 $252,069.09
243 $252,069.09 $2,073.77 $0.00 $1,425.24 $255,568.10
244 $255,568.10 $2,073.77 $0.00 $1,445.02 $259,086.89
245 $259,086.89 $2,073.77 $0.00 $1,464.91 $262,625.57
246 $262,625.57 $2,073.77 $0.00 $1,484.92 $266,184.26
247 $266,184.26 $2,073.77 $0.00 $1,505.04 $269,763.07
248 $269,763.07 $2,073.77 $0.00 $1,525.28 $273,362.12
249 $273,362.12 $2,073.77 $0.00 $1,545.63 $276,981.52
250 $276,981.52 $2,073.77 $0.00 $1,566.09 $280,621.38
251 $280,621.38 $2,073.77 $0.00 $1,586.67 $284,281.82
252 $284,281.82 $2,073.77 $0.00 $1,607.37 $287,962.96
253 $287,962.96 $0.00 $289,595.07 $1,628.18 -$3.93