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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$77,716
Monthly savings required$615

How much will it cost to send your child to Michigan Technological University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $310,863.33 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $615.19 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$29,969.00
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 $615.19 $0.00 $0.00 $615.19
2 $615.19 $615.19 $0.00 $3.48 $1,233.86
3 $1,233.86 $615.19 $0.00 $6.98 $1,856.03
4 $1,856.03 $615.19 $0.00 $10.49 $2,481.71
5 $2,481.71 $615.19 $0.00 $14.03 $3,110.93
6 $3,110.93 $615.19 $0.00 $17.59 $3,743.71
7 $3,743.71 $615.19 $0.00 $21.17 $4,380.07
8 $4,380.07 $615.19 $0.00 $24.77 $5,020.03
9 $5,020.03 $615.19 $0.00 $28.38 $5,663.60
10 $5,663.60 $615.19 $0.00 $32.02 $6,310.81
11 $6,310.81 $615.19 $0.00 $35.68 $6,961.68
12 $6,961.68 $615.19 $0.00 $39.36 $7,616.23
13 $7,616.23 $615.19 $0.00 $43.06 $8,274.48
14 $8,274.48 $615.19 $0.00 $46.79 $8,936.46
15 $8,936.46 $615.19 $0.00 $50.53 $9,602.18
16 $9,602.18 $615.19 $0.00 $54.29 $10,271.66
17 $10,271.66 $615.19 $0.00 $58.08 $10,944.93
18 $10,944.93 $615.19 $0.00 $61.88 $11,622.00
19 $11,622.00 $615.19 $0.00 $65.71 $12,302.90
20 $12,302.90 $615.19 $0.00 $69.56 $12,987.65
21 $12,987.65 $615.19 $0.00 $73.43 $13,676.27
22 $13,676.27 $615.19 $0.00 $77.33 $14,368.79
23 $14,368.79 $615.19 $0.00 $81.24 $15,065.22
24 $15,065.22 $615.19 $0.00 $85.18 $15,765.59
25 $15,765.59 $615.19 $0.00 $89.14 $16,469.92
26 $16,469.92 $615.19 $0.00 $93.12 $17,178.23
27 $17,178.23 $615.19 $0.00 $97.13 $17,890.55
28 $17,890.55 $615.19 $0.00 $101.16 $18,606.90
29 $18,606.90 $615.19 $0.00 $105.21 $19,327.30
30 $19,327.30 $615.19 $0.00 $109.28 $20,051.77
31 $20,051.77 $615.19 $0.00 $113.38 $20,780.34
32 $20,780.34 $615.19 $0.00 $117.50 $21,513.03
33 $21,513.03 $615.19 $0.00 $121.64 $22,249.86
34 $22,249.86 $615.19 $0.00 $125.80 $22,990.85
35 $22,990.85 $615.19 $0.00 $129.99 $23,736.03
36 $23,736.03 $615.19 $0.00 $134.21 $24,485.43
37 $24,485.43 $615.19 $0.00 $138.44 $25,239.06
38 $25,239.06 $615.19 $0.00 $142.71 $25,996.96
39 $25,996.96 $615.19 $0.00 $146.99 $26,759.14
40 $26,759.14 $615.19 $0.00 $151.30 $27,525.63
41 $27,525.63 $615.19 $0.00 $155.63 $28,296.45
42 $28,296.45 $615.19 $0.00 $159.99 $29,071.63
43 $29,071.63 $615.19 $0.00 $164.38 $29,851.20
44 $29,851.20 $615.19 $0.00 $168.78 $30,635.17
45 $30,635.17 $615.19 $0.00 $173.22 $31,423.58
46 $31,423.58 $615.19 $0.00 $177.67 $32,216.44
47 $32,216.44 $615.19 $0.00 $182.16 $33,013.79
48 $33,013.79 $615.19 $0.00 $186.66 $33,815.64
49 $33,815.64 $615.19 $0.00 $191.20 $34,622.03
50 $34,622.03 $615.19 $0.00 $195.76 $35,432.98
51 $35,432.98 $615.19 $0.00 $200.34 $36,248.51
52 $36,248.51 $615.19 $0.00 $204.95 $37,068.65
53 $37,068.65 $615.19 $0.00 $209.59 $37,893.43
54 $37,893.43 $615.19 $0.00 $214.25 $38,722.87
55 $38,722.87 $615.19 $0.00 $218.94 $39,557.00
56 $39,557.00 $615.19 $0.00 $223.66 $40,395.85
57 $40,395.85 $615.19 $0.00 $228.40 $41,239.44
58 $41,239.44 $615.19 $0.00 $233.17 $42,087.80
59 $42,087.80 $615.19 $0.00 $237.97 $42,940.96
60 $42,940.96 $615.19 $0.00 $242.79 $43,798.94
61 $43,798.94 $615.19 $0.00 $247.65 $44,661.78
62 $44,661.78 $615.19 $0.00 $252.52 $45,529.49
63 $45,529.49 $615.19 $0.00 $257.43 $46,402.11
64 $46,402.11 $615.19 $0.00 $262.36 $47,279.66
65 $47,279.66 $615.19 $0.00 $267.33 $48,162.18
66 $48,162.18 $615.19 $0.00 $272.32 $49,049.69
67 $49,049.69 $615.19 $0.00 $277.33 $49,942.21
68 $49,942.21 $615.19 $0.00 $282.38 $50,839.78
69 $50,839.78 $615.19 $0.00 $287.46 $51,742.43
70 $51,742.43 $615.19 $0.00 $292.56 $52,650.18
71 $52,650.18 $615.19 $0.00 $297.69 $53,563.06
72 $53,563.06 $615.19 $0.00 $302.85 $54,481.10
73 $54,481.10 $615.19 $0.00 $308.04 $55,404.33
74 $55,404.33 $615.19 $0.00 $313.26 $56,332.78
75 $56,332.78 $615.19 $0.00 $318.51 $57,266.48
76 $57,266.48 $615.19 $0.00 $323.79 $58,205.46
77 $58,205.46 $615.19 $0.00 $329.10 $59,149.75
78 $59,149.75 $615.19 $0.00 $334.44 $60,099.38
79 $60,099.38 $615.19 $0.00 $339.81 $61,054.38
80 $61,054.38 $615.19 $0.00 $345.21 $62,014.78
81 $62,014.78 $615.19 $0.00 $350.64 $62,980.61
82 $62,980.61 $615.19 $0.00 $356.10 $63,951.90
83 $63,951.90 $615.19 $0.00 $361.59 $64,928.68
84 $64,928.68 $615.19 $0.00 $367.12 $65,910.99
85 $65,910.99 $615.19 $0.00 $372.67 $66,898.85
86 $66,898.85 $615.19 $0.00 $378.26 $67,892.30
87 $67,892.30 $615.19 $0.00 $383.87 $68,891.36
88 $68,891.36 $615.19 $0.00 $389.52 $69,896.07
89 $69,896.07 $615.19 $0.00 $395.20 $70,906.46
90 $70,906.46 $615.19 $0.00 $400.92 $71,922.57
91 $71,922.57 $615.19 $0.00 $406.66 $72,944.42
92 $72,944.42 $615.19 $0.00 $412.44 $73,972.05
93 $73,972.05 $615.19 $0.00 $418.25 $75,005.49
94 $75,005.49 $615.19 $0.00 $424.09 $76,044.77
95 $76,044.77 $615.19 $0.00 $429.97 $77,089.93
96 $77,089.93 $615.19 $0.00 $435.88 $78,141.00
97 $78,141.00 $615.19 $0.00 $441.82 $79,198.01
98 $79,198.01 $615.19 $0.00 $447.80 $80,261.00
99 $80,261.00 $615.19 $0.00 $453.81 $81,330.00
100 $81,330.00 $615.19 $0.00 $459.85 $82,405.04
101 $82,405.04 $615.19 $0.00 $465.93 $83,486.16
102 $83,486.16 $615.19 $0.00 $472.04 $84,573.39
103 $84,573.39 $615.19 $0.00 $478.19 $85,666.77
104 $85,666.77 $615.19 $0.00 $484.37 $86,766.33
105 $86,766.33 $615.19 $0.00 $490.59 $87,872.11
106 $87,872.11 $615.19 $0.00 $496.84 $88,984.14
107 $88,984.14 $615.19 $0.00 $503.13 $90,102.46
108 $90,102.46 $615.19 $0.00 $509.45 $91,227.10
109 $91,227.10 $615.19 $0.00 $515.81 $92,358.10
110 $92,358.10 $615.19 $0.00 $522.21 $93,495.50
111 $93,495.50 $615.19 $0.00 $528.64 $94,639.33
112 $94,639.33 $615.19 $0.00 $535.10 $95,789.62
113 $95,789.62 $615.19 $0.00 $541.61 $96,946.42
114 $96,946.42 $615.19 $0.00 $548.15 $98,109.76
115 $98,109.76 $615.19 $0.00 $554.73 $99,279.68
116 $99,279.68 $615.19 $0.00 $561.34 $100,456.21
117 $100,456.21 $615.19 $0.00 $567.99 $101,639.39
118 $101,639.39 $615.19 $0.00 $574.68 $102,829.26
119 $102,829.26 $615.19 $0.00 $581.41 $104,025.86
120 $104,025.86 $615.19 $0.00 $588.18 $105,229.23
121 $105,229.23 $615.19 $0.00 $594.98 $106,439.40
122 $106,439.40 $615.19 $0.00 $601.82 $107,656.41
123 $107,656.41 $615.19 $0.00 $608.70 $108,880.30
124 $108,880.30 $615.19 $0.00 $615.63 $110,111.12
125 $110,111.12 $615.19 $0.00 $622.58 $111,348.89
126 $111,348.89 $615.19 $0.00 $629.58 $112,593.66
127 $112,593.66 $615.19 $0.00 $636.62 $113,845.47
128 $113,845.47 $615.19 $0.00 $643.70 $115,104.36
129 $115,104.36 $615.19 $0.00 $650.82 $116,370.37
130 $116,370.37 $615.19 $0.00 $657.97 $117,643.53
131 $117,643.53 $615.19 $0.00 $665.17 $118,923.89
132 $118,923.89 $615.19 $0.00 $672.41 $120,211.49
133 $120,211.49 $615.19 $0.00 $679.69 $121,506.37
134 $121,506.37 $615.19 $0.00 $687.01 $122,808.57
135 $122,808.57 $615.19 $0.00 $694.38 $124,118.14
136 $124,118.14 $615.19 $0.00 $701.78 $125,435.11
137 $125,435.11 $615.19 $0.00 $709.23 $126,759.53
138 $126,759.53 $615.19 $0.00 $716.72 $128,091.44
139 $128,091.44 $615.19 $0.00 $724.25 $129,430.88
140 $129,430.88 $615.19 $0.00 $731.82 $130,777.89
141 $130,777.89 $615.19 $0.00 $739.44 $132,132.52
142 $132,132.52 $615.19 $0.00 $747.10 $133,494.81
143 $133,494.81 $615.19 $0.00 $754.80 $134,864.80
144 $134,864.80 $615.19 $0.00 $762.55 $136,242.54
145 $136,242.54 $615.19 $0.00 $770.34 $137,628.07
146 $137,628.07 $615.19 $0.00 $778.17 $139,021.43
147 $139,021.43 $615.19 $0.00 $786.05 $140,422.67
148 $140,422.67 $615.19 $0.00 $793.97 $141,831.83
149 $141,831.83 $615.19 $0.00 $801.94 $143,248.96
150 $143,248.96 $615.19 $0.00 $809.95 $144,674.10
151 $144,674.10 $615.19 $0.00 $818.01 $146,107.30
152 $146,107.30 $615.19 $0.00 $826.11 $147,548.60
153 $147,548.60 $615.19 $0.00 $834.26 $148,998.05
154 $148,998.05 $615.19 $0.00 $842.46 $150,455.70
155 $150,455.70 $615.19 $0.00 $850.70 $151,921.59
156 $151,921.59 $615.19 $0.00 $858.99 $153,395.77
157 $153,395.77 $615.19 $0.00 $867.32 $154,878.28
158 $154,878.28 $615.19 $0.00 $875.70 $156,369.17
159 $156,369.17 $615.19 $0.00 $884.13 $157,868.49
160 $157,868.49 $615.19 $0.00 $892.61 $159,376.29
161 $159,376.29 $615.19 $0.00 $901.14 $160,892.62
162 $160,892.62 $615.19 $0.00 $909.71 $162,417.52
163 $162,417.52 $615.19 $0.00 $918.33 $163,951.04
164 $163,951.04 $615.19 $0.00 $927.00 $165,493.23
165 $165,493.23 $615.19 $0.00 $935.72 $167,044.14
166 $167,044.14 $615.19 $0.00 $944.49 $168,603.82
167 $168,603.82 $615.19 $0.00 $953.31 $170,172.32
168 $170,172.32 $615.19 $0.00 $962.18 $171,749.69
169 $171,749.69 $615.19 $0.00 $971.10 $173,335.98
170 $173,335.98 $615.19 $0.00 $980.07 $174,931.24
171 $174,931.24 $615.19 $0.00 $989.09 $176,535.52
172 $176,535.52 $615.19 $0.00 $998.16 $178,148.87
173 $178,148.87 $615.19 $0.00 $1,007.28 $179,771.34
174 $179,771.34 $615.19 $0.00 $1,016.45 $181,402.98
175 $181,402.98 $615.19 $0.00 $1,025.68 $183,043.85
176 $183,043.85 $615.19 $0.00 $1,034.96 $184,694.00
177 $184,694.00 $615.19 $0.00 $1,044.29 $186,353.48
178 $186,353.48 $615.19 $0.00 $1,053.67 $188,022.34
179 $188,022.34 $615.19 $0.00 $1,063.11 $189,700.64
180 $189,700.64 $615.19 $0.00 $1,072.59 $191,388.42
181 $191,388.42 $615.19 $0.00 $1,082.14 $193,085.75
182 $193,085.75 $615.19 $0.00 $1,091.73 $194,792.67
183 $194,792.67 $615.19 $0.00 $1,101.39 $196,509.25
184 $196,509.25 $615.19 $0.00 $1,111.09 $198,235.53
185 $198,235.53 $615.19 $0.00 $1,120.85 $199,971.57
186 $199,971.57 $615.19 $0.00 $1,130.67 $201,717.43
187 $201,717.43 $615.19 $0.00 $1,140.54 $203,473.16
188 $203,473.16 $615.19 $0.00 $1,150.47 $205,238.82
189 $205,238.82 $615.19 $0.00 $1,160.45 $207,014.46
190 $207,014.46 $615.19 $0.00 $1,170.49 $208,800.14
191 $208,800.14 $615.19 $0.00 $1,180.59 $210,595.92
192 $210,595.92 $615.19 $0.00 $1,190.74 $212,401.85
193 $212,401.85 $615.19 $0.00 $1,200.95 $214,217.99
194 $214,217.99 $615.19 $0.00 $1,211.22 $216,044.40
195 $216,044.40 $615.19 $0.00 $1,221.55 $217,881.14
196 $217,881.14 $615.19 $0.00 $1,231.93 $219,728.26
197 $219,728.26 $615.19 $0.00 $1,242.38 $221,585.83
198 $221,585.83 $615.19 $0.00 $1,252.88 $223,453.90
199 $223,453.90 $615.19 $0.00 $1,263.44 $225,332.53
200 $225,332.53 $615.19 $0.00 $1,274.06 $227,221.78
201 $227,221.78 $615.19 $0.00 $1,284.74 $229,121.71
202 $229,121.71 $615.19 $0.00 $1,295.49 $231,032.39
203 $231,032.39 $615.19 $0.00 $1,306.29 $232,953.87
204 $232,953.87 $615.19 $0.00 $1,317.16 $234,886.22
205 $234,886.22 $615.19 $0.00 $1,328.08 $236,829.49
206 $236,829.49 $615.19 $0.00 $1,339.07 $238,783.75
207 $238,783.75 $615.19 $0.00 $1,350.12 $240,749.06
208 $240,749.06 $615.19 $0.00 $1,361.23 $242,725.48
209 $242,725.48 $615.19 $0.00 $1,372.41 $244,713.08
210 $244,713.08 $615.19 $0.00 $1,383.64 $246,711.91
211 $246,711.91 $615.19 $0.00 $1,394.95 $248,722.05
212 $248,722.05 $615.19 $0.00 $1,406.31 $250,743.55
213 $250,743.55 $615.19 $0.00 $1,417.74 $252,776.48
214 $252,776.48 $615.19 $0.00 $1,429.23 $254,820.90
215 $254,820.90 $615.19 $0.00 $1,440.79 $256,876.88
216 $256,876.88 $615.19 $0.00 $1,452.42 $258,944.49
217 $258,944.49 $615.19 $72,123.97 $1,464.11 $188,899.82
218 $188,899.82 $615.19 $0.00 $1,068.07 $190,583.08
219 $190,583.08 $615.19 $0.00 $1,077.58 $192,275.85
220 $192,275.85 $615.19 $0.00 $1,087.16 $193,978.20
221 $193,978.20 $615.19 $0.00 $1,096.78 $195,690.17
222 $195,690.17 $615.19 $0.00 $1,106.46 $197,411.82
223 $197,411.82 $615.19 $0.00 $1,116.20 $199,143.21
224 $199,143.21 $615.19 $0.00 $1,125.98 $200,884.38
225 $200,884.38 $615.19 $0.00 $1,135.83 $202,635.40
226 $202,635.40 $615.19 $0.00 $1,145.73 $204,396.32
227 $204,396.32 $615.19 $0.00 $1,155.69 $206,167.20
228 $206,167.20 $615.19 $0.00 $1,165.70 $207,948.09
229 $207,948.09 $615.19 $75,730.17 $1,175.77 $134,008.88
230 $134,008.88 $615.19 $0.00 $757.71 $135,381.78
231 $135,381.78 $615.19 $0.00 $765.47 $136,762.44
232 $136,762.44 $615.19 $0.00 $773.27 $138,150.90
233 $138,150.90 $615.19 $0.00 $781.13 $139,547.22
234 $139,547.22 $615.19 $0.00 $789.02 $140,951.43
235 $140,951.43 $615.19 $0.00 $796.96 $142,363.58
236 $142,363.58 $615.19 $0.00 $804.94 $143,783.71
237 $143,783.71 $615.19 $0.00 $812.97 $145,211.87
238 $145,211.87 $615.19 $0.00 $821.05 $146,648.11
239 $146,648.11 $615.19 $0.00 $829.17 $148,092.47
240 $148,092.47 $615.19 $0.00 $837.34 $149,545.00
241 $149,545.00 $615.19 $79,516.68 $845.55 $71,489.06
242 $71,489.06 $615.19 $0.00 $404.21 $72,508.46
243 $72,508.46 $615.19 $0.00 $409.97 $73,533.62
244 $73,533.62 $615.19 $0.00 $415.77 $74,564.58
245 $74,564.58 $615.19 $0.00 $421.60 $75,601.37
246 $75,601.37 $615.19 $0.00 $427.46 $76,644.02
247 $76,644.02 $615.19 $0.00 $433.36 $77,692.57
248 $77,692.57 $615.19 $0.00 $439.29 $78,747.05
249 $78,747.05 $615.19 $0.00 $445.25 $79,807.49
250 $79,807.49 $615.19 $0.00 $451.24 $80,873.92
251 $80,873.92 $615.19 $0.00 $457.27 $81,946.38
252 $81,946.38 $615.19 $0.00 $463.34 $83,024.91
253 $83,024.91 $0.00 $83,492.51 $469.43 $1.83