Estimated Annual Cost in 2042 | $125,891 |
Monthly savings required | $995 |
How much will it cost to send your child to University of Michigan in 18 years and how much do you need to save? A 4 year degree is estimated to be priced at $503,565.05 for students enrolling in 2042 if tuition increases average 7% per year until then. Assuming you have no current college savings, monthly deposits of $994.96 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.
Current Annual Cost | $33,556.00 |
Years until enrollment | 18 |
Annual Tuition Increase | 7% |
Current Savings | $0.00 |
After Tax Return on Savings | 7% |
Years of enrollment | 4 |
Discover how much will you need to start saving now to afford University of Michigan in the future.
Month | Begin | Deposit | Withdraw | Interest | End |
---|---|---|---|---|---|
1 | $0.00 | $994.96 | $0.00 | $0.00 | $994.96 |
2 | $994.96 | $994.96 | $0.00 | $5.63 | $1,995.55 |
3 | $1,995.55 | $994.96 | $0.00 | $11.28 | $3,001.79 |
4 | $3,001.79 | $994.96 | $0.00 | $16.97 | $4,013.72 |
5 | $4,013.72 | $994.96 | $0.00 | $22.69 | $5,031.37 |
6 | $5,031.37 | $994.96 | $0.00 | $28.45 | $6,054.78 |
7 | $6,054.78 | $994.96 | $0.00 | $34.23 | $7,083.97 |
8 | $7,083.97 | $994.96 | $0.00 | $40.05 | $8,118.98 |
9 | $8,118.98 | $994.96 | $0.00 | $45.91 | $9,159.85 |
10 | $9,159.85 | $994.96 | $0.00 | $51.79 | $10,206.60 |
11 | $10,206.60 | $994.96 | $0.00 | $57.71 | $11,259.27 |
12 | $11,259.27 | $994.96 | $0.00 | $63.66 | $12,317.89 |
13 | $12,317.89 | $994.96 | $0.00 | $69.65 | $13,382.50 |
14 | $13,382.50 | $994.96 | $0.00 | $75.67 | $14,453.13 |
15 | $14,453.13 | $994.96 | $0.00 | $81.72 | $15,529.81 |
16 | $15,529.81 | $994.96 | $0.00 | $87.81 | $16,612.58 |
17 | $16,612.58 | $994.96 | $0.00 | $93.93 | $17,701.47 |
18 | $17,701.47 | $994.96 | $0.00 | $100.09 | $18,796.52 |
19 | $18,796.52 | $994.96 | $0.00 | $106.28 | $19,897.76 |
20 | $19,897.76 | $994.96 | $0.00 | $112.50 | $21,005.22 |
21 | $21,005.22 | $994.96 | $0.00 | $118.77 | $22,118.95 |
22 | $22,118.95 | $994.96 | $0.00 | $125.06 | $23,238.97 |
23 | $23,238.97 | $994.96 | $0.00 | $131.40 | $24,365.33 |
24 | $24,365.33 | $994.96 | $0.00 | $137.77 | $25,498.06 |
25 | $25,498.06 | $994.96 | $0.00 | $144.17 | $26,637.19 |
26 | $26,637.19 | $994.96 | $0.00 | $150.61 | $27,782.76 |
27 | $27,782.76 | $994.96 | $0.00 | $157.09 | $28,934.81 |
28 | $28,934.81 | $994.96 | $0.00 | $163.60 | $30,093.37 |
29 | $30,093.37 | $994.96 | $0.00 | $170.15 | $31,258.48 |
30 | $31,258.48 | $994.96 | $0.00 | $176.74 | $32,430.18 |
31 | $32,430.18 | $994.96 | $0.00 | $183.36 | $33,608.50 |
32 | $33,608.50 | $994.96 | $0.00 | $190.03 | $34,793.49 |
33 | $34,793.49 | $994.96 | $0.00 | $196.73 | $35,985.18 |
34 | $35,985.18 | $994.96 | $0.00 | $203.47 | $37,183.61 |
35 | $37,183.61 | $994.96 | $0.00 | $210.24 | $38,388.81 |
36 | $38,388.81 | $994.96 | $0.00 | $217.06 | $39,600.83 |
37 | $39,600.83 | $994.96 | $0.00 | $223.91 | $40,819.70 |
38 | $40,819.70 | $994.96 | $0.00 | $230.80 | $42,045.46 |
39 | $42,045.46 | $994.96 | $0.00 | $237.73 | $43,278.15 |
40 | $43,278.15 | $994.96 | $0.00 | $244.70 | $44,517.81 |
41 | $44,517.81 | $994.96 | $0.00 | $251.71 | $45,764.48 |
42 | $45,764.48 | $994.96 | $0.00 | $258.76 | $47,018.20 |
43 | $47,018.20 | $994.96 | $0.00 | $265.85 | $48,279.01 |
44 | $48,279.01 | $994.96 | $0.00 | $272.98 | $49,546.95 |
45 | $49,546.95 | $994.96 | $0.00 | $280.15 | $50,822.06 |
46 | $50,822.06 | $994.96 | $0.00 | $287.36 | $52,104.38 |
47 | $52,104.38 | $994.96 | $0.00 | $294.61 | $53,393.95 |
48 | $53,393.95 | $994.96 | $0.00 | $301.90 | $54,690.81 |
49 | $54,690.81 | $994.96 | $0.00 | $309.23 | $55,995.00 |
50 | $55,995.00 | $994.96 | $0.00 | $316.60 | $57,306.56 |
51 | $57,306.56 | $994.96 | $0.00 | $324.02 | $58,625.54 |
52 | $58,625.54 | $994.96 | $0.00 | $331.48 | $59,951.98 |
53 | $59,951.98 | $994.96 | $0.00 | $338.98 | $61,285.92 |
54 | $61,285.92 | $994.96 | $0.00 | $346.52 | $62,627.40 |
55 | $62,627.40 | $994.96 | $0.00 | $354.10 | $63,976.46 |
56 | $63,976.46 | $994.96 | $0.00 | $361.73 | $65,333.15 |
57 | $65,333.15 | $994.96 | $0.00 | $369.40 | $66,697.51 |
58 | $66,697.51 | $994.96 | $0.00 | $377.12 | $68,069.59 |
59 | $68,069.59 | $994.96 | $0.00 | $384.88 | $69,449.43 |
60 | $69,449.43 | $994.96 | $0.00 | $392.68 | $70,837.07 |
61 | $70,837.07 | $994.96 | $0.00 | $400.52 | $72,232.55 |
62 | $72,232.55 | $994.96 | $0.00 | $408.41 | $73,635.92 |
63 | $73,635.92 | $994.96 | $0.00 | $416.35 | $75,047.23 |
64 | $75,047.23 | $994.96 | $0.00 | $424.33 | $76,466.52 |
65 | $76,466.52 | $994.96 | $0.00 | $432.35 | $77,893.83 |
66 | $77,893.83 | $994.96 | $0.00 | $440.42 | $79,329.21 |
67 | $79,329.21 | $994.96 | $0.00 | $448.54 | $80,772.71 |
68 | $80,772.71 | $994.96 | $0.00 | $456.70 | $82,224.37 |
69 | $82,224.37 | $994.96 | $0.00 | $464.91 | $83,684.24 |
70 | $83,684.24 | $994.96 | $0.00 | $473.16 | $85,152.36 |
71 | $85,152.36 | $994.96 | $0.00 | $481.46 | $86,628.78 |
72 | $86,628.78 | $994.96 | $0.00 | $489.81 | $88,113.55 |
73 | $88,113.55 | $994.96 | $0.00 | $498.21 | $89,606.72 |
74 | $89,606.72 | $994.96 | $0.00 | $506.65 | $91,108.33 |
75 | $91,108.33 | $994.96 | $0.00 | $515.14 | $92,618.43 |
76 | $92,618.43 | $994.96 | $0.00 | $523.68 | $94,137.07 |
77 | $94,137.07 | $994.96 | $0.00 | $532.26 | $95,664.29 |
78 | $95,664.29 | $994.96 | $0.00 | $540.90 | $97,200.15 |
79 | $97,200.15 | $994.96 | $0.00 | $549.58 | $98,744.69 |
80 | $98,744.69 | $994.96 | $0.00 | $558.32 | $100,297.97 |
81 | $100,297.97 | $994.96 | $0.00 | $567.10 | $101,860.03 |
82 | $101,860.03 | $994.96 | $0.00 | $575.93 | $103,430.92 |
83 | $103,430.92 | $994.96 | $0.00 | $584.81 | $105,010.69 |
84 | $105,010.69 | $994.96 | $0.00 | $593.75 | $106,599.40 |
85 | $106,599.40 | $994.96 | $0.00 | $602.73 | $108,197.09 |
86 | $108,197.09 | $994.96 | $0.00 | $611.76 | $109,803.81 |
87 | $109,803.81 | $994.96 | $0.00 | $620.85 | $111,419.62 |
88 | $111,419.62 | $994.96 | $0.00 | $629.98 | $113,044.56 |
89 | $113,044.56 | $994.96 | $0.00 | $639.17 | $114,678.69 |
90 | $114,678.69 | $994.96 | $0.00 | $648.41 | $116,322.06 |
91 | $116,322.06 | $994.96 | $0.00 | $657.70 | $117,974.72 |
92 | $117,974.72 | $994.96 | $0.00 | $667.05 | $119,636.73 |
93 | $119,636.73 | $994.96 | $0.00 | $676.44 | $121,308.13 |
94 | $121,308.13 | $994.96 | $0.00 | $685.89 | $122,988.98 |
95 | $122,988.98 | $994.96 | $0.00 | $695.40 | $124,679.34 |
96 | $124,679.34 | $994.96 | $0.00 | $704.96 | $126,379.26 |
97 | $126,379.26 | $994.96 | $0.00 | $714.57 | $128,088.79 |
98 | $128,088.79 | $994.96 | $0.00 | $724.23 | $129,807.98 |
99 | $129,807.98 | $994.96 | $0.00 | $733.95 | $131,536.89 |
100 | $131,536.89 | $994.96 | $0.00 | $743.73 | $133,275.58 |
101 | $133,275.58 | $994.96 | $0.00 | $753.56 | $135,024.10 |
102 | $135,024.10 | $994.96 | $0.00 | $763.45 | $136,782.51 |
103 | $136,782.51 | $994.96 | $0.00 | $773.39 | $138,550.86 |
104 | $138,550.86 | $994.96 | $0.00 | $783.39 | $140,329.21 |
105 | $140,329.21 | $994.96 | $0.00 | $793.44 | $142,117.61 |
106 | $142,117.61 | $994.96 | $0.00 | $803.55 | $143,916.12 |
107 | $143,916.12 | $994.96 | $0.00 | $813.72 | $145,724.80 |
108 | $145,724.80 | $994.96 | $0.00 | $823.95 | $147,543.71 |
109 | $147,543.71 | $994.96 | $0.00 | $834.23 | $149,372.90 |
110 | $149,372.90 | $994.96 | $0.00 | $844.58 | $151,212.44 |
111 | $151,212.44 | $994.96 | $0.00 | $854.98 | $153,062.38 |
112 | $153,062.38 | $994.96 | $0.00 | $865.44 | $154,922.78 |
113 | $154,922.78 | $994.96 | $0.00 | $875.96 | $156,793.70 |
114 | $156,793.70 | $994.96 | $0.00 | $886.53 | $158,675.19 |
115 | $158,675.19 | $994.96 | $0.00 | $897.17 | $160,567.32 |
116 | $160,567.32 | $994.96 | $0.00 | $907.87 | $162,470.15 |
117 | $162,470.15 | $994.96 | $0.00 | $918.63 | $164,383.74 |
118 | $164,383.74 | $994.96 | $0.00 | $929.45 | $166,308.15 |
119 | $166,308.15 | $994.96 | $0.00 | $940.33 | $168,243.44 |
120 | $168,243.44 | $994.96 | $0.00 | $951.27 | $170,189.67 |
121 | $170,189.67 | $994.96 | $0.00 | $962.28 | $172,146.91 |
122 | $172,146.91 | $994.96 | $0.00 | $973.34 | $174,115.21 |
123 | $174,115.21 | $994.96 | $0.00 | $984.47 | $176,094.64 |
124 | $176,094.64 | $994.96 | $0.00 | $995.66 | $178,085.26 |
125 | $178,085.26 | $994.96 | $0.00 | $1,006.92 | $180,087.14 |
126 | $180,087.14 | $994.96 | $0.00 | $1,018.24 | $182,100.34 |
127 | $182,100.34 | $994.96 | $0.00 | $1,029.62 | $184,124.92 |
128 | $184,124.92 | $994.96 | $0.00 | $1,041.07 | $186,160.95 |
129 | $186,160.95 | $994.96 | $0.00 | $1,052.58 | $188,208.49 |
130 | $188,208.49 | $994.96 | $0.00 | $1,064.16 | $190,267.61 |
131 | $190,267.61 | $994.96 | $0.00 | $1,075.80 | $192,338.37 |
132 | $192,338.37 | $994.96 | $0.00 | $1,087.51 | $194,420.84 |
133 | $194,420.84 | $994.96 | $0.00 | $1,099.28 | $196,515.08 |
134 | $196,515.08 | $994.96 | $0.00 | $1,111.12 | $198,621.16 |
135 | $198,621.16 | $994.96 | $0.00 | $1,123.03 | $200,739.15 |
136 | $200,739.15 | $994.96 | $0.00 | $1,135.01 | $202,869.12 |
137 | $202,869.12 | $994.96 | $0.00 | $1,147.05 | $205,011.13 |
138 | $205,011.13 | $994.96 | $0.00 | $1,159.16 | $207,165.25 |
139 | $207,165.25 | $994.96 | $0.00 | $1,171.34 | $209,331.55 |
140 | $209,331.55 | $994.96 | $0.00 | $1,183.59 | $211,510.10 |
141 | $211,510.10 | $994.96 | $0.00 | $1,195.91 | $213,700.97 |
142 | $213,700.97 | $994.96 | $0.00 | $1,208.30 | $215,904.23 |
143 | $215,904.23 | $994.96 | $0.00 | $1,220.75 | $218,119.94 |
144 | $218,119.94 | $994.96 | $0.00 | $1,233.28 | $220,348.18 |
145 | $220,348.18 | $994.96 | $0.00 | $1,245.88 | $222,589.02 |
146 | $222,589.02 | $994.96 | $0.00 | $1,258.55 | $224,842.53 |
147 | $224,842.53 | $994.96 | $0.00 | $1,271.29 | $227,108.78 |
148 | $227,108.78 | $994.96 | $0.00 | $1,284.11 | $229,387.85 |
149 | $229,387.85 | $994.96 | $0.00 | $1,296.99 | $231,679.80 |
150 | $231,679.80 | $994.96 | $0.00 | $1,309.95 | $233,984.71 |
151 | $233,984.71 | $994.96 | $0.00 | $1,322.98 | $236,302.65 |
152 | $236,302.65 | $994.96 | $0.00 | $1,336.09 | $238,633.70 |
153 | $238,633.70 | $994.96 | $0.00 | $1,349.27 | $240,977.93 |
154 | $240,977.93 | $994.96 | $0.00 | $1,362.52 | $243,335.41 |
155 | $243,335.41 | $994.96 | $0.00 | $1,375.85 | $245,706.22 |
156 | $245,706.22 | $994.96 | $0.00 | $1,389.26 | $248,090.44 |
157 | $248,090.44 | $994.96 | $0.00 | $1,402.74 | $250,488.14 |
158 | $250,488.14 | $994.96 | $0.00 | $1,416.30 | $252,899.40 |
159 | $252,899.40 | $994.96 | $0.00 | $1,429.93 | $255,324.29 |
160 | $255,324.29 | $994.96 | $0.00 | $1,443.64 | $257,762.89 |
161 | $257,762.89 | $994.96 | $0.00 | $1,457.43 | $260,215.28 |
162 | $260,215.28 | $994.96 | $0.00 | $1,471.30 | $262,681.54 |
163 | $262,681.54 | $994.96 | $0.00 | $1,485.24 | $265,161.74 |
164 | $265,161.74 | $994.96 | $0.00 | $1,499.26 | $267,655.96 |
165 | $267,655.96 | $994.96 | $0.00 | $1,513.37 | $270,164.29 |
166 | $270,164.29 | $994.96 | $0.00 | $1,527.55 | $272,686.80 |
167 | $272,686.80 | $994.96 | $0.00 | $1,541.81 | $275,223.57 |
168 | $275,223.57 | $994.96 | $0.00 | $1,556.15 | $277,774.68 |
169 | $277,774.68 | $994.96 | $0.00 | $1,570.58 | $280,340.22 |
170 | $280,340.22 | $994.96 | $0.00 | $1,585.08 | $282,920.26 |
171 | $282,920.26 | $994.96 | $0.00 | $1,599.67 | $285,514.89 |
172 | $285,514.89 | $994.96 | $0.00 | $1,614.34 | $288,124.19 |
173 | $288,124.19 | $994.96 | $0.00 | $1,629.10 | $290,748.25 |
174 | $290,748.25 | $994.96 | $0.00 | $1,643.93 | $293,387.14 |
175 | $293,387.14 | $994.96 | $0.00 | $1,658.85 | $296,040.95 |
176 | $296,040.95 | $994.96 | $0.00 | $1,673.86 | $298,709.77 |
177 | $298,709.77 | $994.96 | $0.00 | $1,688.95 | $301,393.68 |
178 | $301,393.68 | $994.96 | $0.00 | $1,704.12 | $304,092.76 |
179 | $304,092.76 | $994.96 | $0.00 | $1,719.38 | $306,807.10 |
180 | $306,807.10 | $994.96 | $0.00 | $1,734.73 | $309,536.79 |
181 | $309,536.79 | $994.96 | $0.00 | $1,750.17 | $312,281.92 |
182 | $312,281.92 | $994.96 | $0.00 | $1,765.69 | $315,042.57 |
183 | $315,042.57 | $994.96 | $0.00 | $1,781.30 | $317,818.83 |
184 | $317,818.83 | $994.96 | $0.00 | $1,796.99 | $320,610.78 |
185 | $320,610.78 | $994.96 | $0.00 | $1,812.78 | $323,418.52 |
186 | $323,418.52 | $994.96 | $0.00 | $1,828.66 | $326,242.14 |
187 | $326,242.14 | $994.96 | $0.00 | $1,844.62 | $329,081.72 |
188 | $329,081.72 | $994.96 | $0.00 | $1,860.68 | $331,937.36 |
189 | $331,937.36 | $994.96 | $0.00 | $1,876.82 | $334,809.14 |
190 | $334,809.14 | $994.96 | $0.00 | $1,893.06 | $337,697.16 |
191 | $337,697.16 | $994.96 | $0.00 | $1,909.39 | $340,601.51 |
192 | $340,601.51 | $994.96 | $0.00 | $1,925.81 | $343,522.28 |
193 | $343,522.28 | $994.96 | $0.00 | $1,942.32 | $346,459.56 |
194 | $346,459.56 | $994.96 | $0.00 | $1,958.93 | $349,413.45 |
195 | $349,413.45 | $994.96 | $0.00 | $1,975.63 | $352,384.04 |
196 | $352,384.04 | $994.96 | $0.00 | $1,992.43 | $355,371.43 |
197 | $355,371.43 | $994.96 | $0.00 | $2,009.32 | $358,375.71 |
198 | $358,375.71 | $994.96 | $0.00 | $2,026.31 | $361,396.98 |
199 | $361,396.98 | $994.96 | $0.00 | $2,043.39 | $364,435.33 |
200 | $364,435.33 | $994.96 | $0.00 | $2,060.57 | $367,490.86 |
201 | $367,490.86 | $994.96 | $0.00 | $2,077.85 | $370,563.67 |
202 | $370,563.67 | $994.96 | $0.00 | $2,095.22 | $373,653.85 |
203 | $373,653.85 | $994.96 | $0.00 | $2,112.69 | $376,761.50 |
204 | $376,761.50 | $994.96 | $0.00 | $2,130.26 | $379,886.72 |
205 | $379,886.72 | $994.96 | $0.00 | $2,147.93 | $383,029.61 |
206 | $383,029.61 | $994.96 | $0.00 | $2,165.71 | $386,190.28 |
207 | $386,190.28 | $994.96 | $0.00 | $2,183.58 | $389,368.82 |
208 | $389,368.82 | $994.96 | $0.00 | $2,201.55 | $392,565.33 |
209 | $392,565.33 | $994.96 | $0.00 | $2,219.62 | $395,779.91 |
210 | $395,779.91 | $994.96 | $0.00 | $2,237.80 | $399,012.67 |
211 | $399,012.67 | $994.96 | $0.00 | $2,256.08 | $402,263.71 |
212 | $402,263.71 | $994.96 | $0.00 | $2,274.46 | $405,533.13 |
213 | $405,533.13 | $994.96 | $0.00 | $2,292.94 | $408,821.03 |
214 | $408,821.03 | $994.96 | $0.00 | $2,311.53 | $412,127.52 |
215 | $412,127.52 | $994.96 | $0.00 | $2,330.23 | $415,452.71 |
216 | $415,452.71 | $994.96 | $0.00 | $2,349.03 | $418,796.70 |
217 | $418,796.70 | $994.96 | $113,417.01 | $2,367.94 | $308,742.59 |
218 | $308,742.59 | $994.96 | $0.00 | $1,745.68 | $311,483.23 |
219 | $311,483.23 | $994.96 | $0.00 | $1,761.17 | $314,239.36 |
220 | $314,239.36 | $994.96 | $0.00 | $1,776.76 | $317,011.08 |
221 | $317,011.08 | $994.96 | $0.00 | $1,792.43 | $319,798.47 |
222 | $319,798.47 | $994.96 | $0.00 | $1,808.19 | $322,601.62 |
223 | $322,601.62 | $994.96 | $0.00 | $1,824.04 | $325,420.62 |
224 | $325,420.62 | $994.96 | $0.00 | $1,839.98 | $328,255.56 |
225 | $328,255.56 | $994.96 | $0.00 | $1,856.00 | $331,106.52 |
226 | $331,106.52 | $994.96 | $0.00 | $1,872.12 | $333,973.60 |
227 | $333,973.60 | $994.96 | $0.00 | $1,888.34 | $336,856.90 |
228 | $336,856.90 | $994.96 | $0.00 | $1,904.64 | $339,756.50 |
229 | $339,756.50 | $994.96 | $121,356.20 | $1,921.03 | $221,316.29 |
230 | $221,316.29 | $994.96 | $0.00 | $1,251.35 | $223,562.60 |
231 | $223,562.60 | $994.96 | $0.00 | $1,264.06 | $225,821.62 |
232 | $225,821.62 | $994.96 | $0.00 | $1,276.83 | $228,093.41 |
233 | $228,093.41 | $994.96 | $0.00 | $1,289.67 | $230,378.04 |
234 | $230,378.04 | $994.96 | $0.00 | $1,302.59 | $232,675.59 |
235 | $232,675.59 | $994.96 | $0.00 | $1,315.58 | $234,986.13 |
236 | $234,986.13 | $994.96 | $0.00 | $1,328.65 | $237,309.74 |
237 | $237,309.74 | $994.96 | $0.00 | $1,341.78 | $239,646.48 |
238 | $239,646.48 | $994.96 | $0.00 | $1,355.00 | $241,996.44 |
239 | $241,996.44 | $994.96 | $0.00 | $1,368.28 | $244,359.68 |
240 | $244,359.68 | $994.96 | $0.00 | $1,381.65 | $246,736.29 |
241 | $246,736.29 | $994.96 | $129,851.13 | $1,395.08 | $119,275.20 |
242 | $119,275.20 | $994.96 | $0.00 | $674.40 | $120,944.56 |
243 | $120,944.56 | $994.96 | $0.00 | $683.84 | $122,623.36 |
244 | $122,623.36 | $994.96 | $0.00 | $693.33 | $124,311.65 |
245 | $124,311.65 | $994.96 | $0.00 | $702.88 | $126,009.49 |
246 | $126,009.49 | $994.96 | $0.00 | $712.48 | $127,716.93 |
247 | $127,716.93 | $994.96 | $0.00 | $722.13 | $129,434.02 |
248 | $129,434.02 | $994.96 | $0.00 | $731.84 | $131,160.82 |
249 | $131,160.82 | $994.96 | $0.00 | $741.60 | $132,897.38 |
250 | $132,897.38 | $994.96 | $0.00 | $751.42 | $134,643.76 |
251 | $134,643.76 | $994.96 | $0.00 | $761.30 | $136,400.02 |
252 | $136,400.02 | $994.96 | $0.00 | $771.23 | $138,166.21 |
253 | $138,166.21 | $0.00 | $138,940.71 | $781.21 | $6.71 |