Savings Plan and Future Cost Estimation for University of Michigan

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2039$80,535
Monthly savings required$638

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 $322,138.60 for students enrolling in 2039 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $637.50 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$31,056.00
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 $637.50 $0.00 $0.00 $637.50
2 $637.50 $637.50 $0.00 $3.60 $1,278.60
3 $1,278.60 $637.50 $0.00 $7.23 $1,923.33
4 $1,923.33 $637.50 $0.00 $10.87 $2,571.70
5 $2,571.70 $637.50 $0.00 $14.54 $3,223.74
6 $3,223.74 $637.50 $0.00 $18.23 $3,879.47
7 $3,879.47 $637.50 $0.00 $21.94 $4,538.91
8 $4,538.91 $637.50 $0.00 $25.66 $5,202.07
9 $5,202.07 $637.50 $0.00 $29.41 $5,868.98
10 $5,868.98 $637.50 $0.00 $33.18 $6,539.66
11 $6,539.66 $637.50 $0.00 $36.98 $7,214.14
12 $7,214.14 $637.50 $0.00 $40.79 $7,892.43
13 $7,892.43 $637.50 $0.00 $44.62 $8,574.55
14 $8,574.55 $637.50 $0.00 $48.48 $9,260.53
15 $9,260.53 $637.50 $0.00 $52.36 $9,950.39
16 $9,950.39 $637.50 $0.00 $56.26 $10,644.15
17 $10,644.15 $637.50 $0.00 $60.18 $11,341.83
18 $11,341.83 $637.50 $0.00 $64.13 $12,043.46
19 $12,043.46 $637.50 $0.00 $68.10 $12,749.06
20 $12,749.06 $637.50 $0.00 $72.09 $13,458.65
21 $13,458.65 $637.50 $0.00 $76.10 $14,172.25
22 $14,172.25 $637.50 $0.00 $80.13 $14,889.88
23 $14,889.88 $637.50 $0.00 $84.19 $15,611.57
24 $15,611.57 $637.50 $0.00 $88.27 $16,337.34
25 $16,337.34 $637.50 $0.00 $92.37 $17,067.21
26 $17,067.21 $637.50 $0.00 $96.50 $17,801.21
27 $17,801.21 $637.50 $0.00 $100.65 $18,539.36
28 $18,539.36 $637.50 $0.00 $104.82 $19,281.68
29 $19,281.68 $637.50 $0.00 $109.02 $20,028.20
30 $20,028.20 $637.50 $0.00 $113.24 $20,778.94
31 $20,778.94 $637.50 $0.00 $117.49 $21,533.93
32 $21,533.93 $637.50 $0.00 $121.76 $22,293.19
33 $22,293.19 $637.50 $0.00 $126.05 $23,056.74
34 $23,056.74 $637.50 $0.00 $130.37 $23,824.61
35 $23,824.61 $637.50 $0.00 $134.71 $24,596.82
36 $24,596.82 $637.50 $0.00 $139.07 $25,373.39
37 $25,373.39 $637.50 $0.00 $143.46 $26,154.35
38 $26,154.35 $637.50 $0.00 $147.88 $26,939.73
39 $26,939.73 $637.50 $0.00 $152.32 $27,729.55
40 $27,729.55 $637.50 $0.00 $156.79 $28,523.84
41 $28,523.84 $637.50 $0.00 $161.28 $29,322.62
42 $29,322.62 $637.50 $0.00 $165.79 $30,125.91
43 $30,125.91 $637.50 $0.00 $170.34 $30,933.75
44 $30,933.75 $637.50 $0.00 $174.90 $31,746.15
45 $31,746.15 $637.50 $0.00 $179.50 $32,563.15
46 $32,563.15 $637.50 $0.00 $184.12 $33,384.77
47 $33,384.77 $637.50 $0.00 $188.76 $34,211.03
48 $34,211.03 $637.50 $0.00 $193.43 $35,041.96
49 $35,041.96 $637.50 $0.00 $198.13 $35,877.59
50 $35,877.59 $637.50 $0.00 $202.86 $36,717.95
51 $36,717.95 $637.50 $0.00 $207.61 $37,563.06
52 $37,563.06 $637.50 $0.00 $212.39 $38,412.95
53 $38,412.95 $637.50 $0.00 $217.19 $39,267.64
54 $39,267.64 $637.50 $0.00 $222.02 $40,127.16
55 $40,127.16 $637.50 $0.00 $226.88 $40,991.54
56 $40,991.54 $637.50 $0.00 $231.77 $41,860.81
57 $41,860.81 $637.50 $0.00 $236.69 $42,735.00
58 $42,735.00 $637.50 $0.00 $241.63 $43,614.13
59 $43,614.13 $637.50 $0.00 $246.60 $44,498.23
60 $44,498.23 $637.50 $0.00 $251.60 $45,387.33
61 $45,387.33 $637.50 $0.00 $256.63 $46,281.46
62 $46,281.46 $637.50 $0.00 $261.68 $47,180.64
63 $47,180.64 $637.50 $0.00 $266.77 $48,084.91
64 $48,084.91 $637.50 $0.00 $271.88 $48,994.29
65 $48,994.29 $637.50 $0.00 $277.02 $49,908.81
66 $49,908.81 $637.50 $0.00 $282.19 $50,828.50
67 $50,828.50 $637.50 $0.00 $287.39 $51,753.39
68 $51,753.39 $637.50 $0.00 $292.62 $52,683.51
69 $52,683.51 $637.50 $0.00 $297.88 $53,618.89
70 $53,618.89 $637.50 $0.00 $303.17 $54,559.56
71 $54,559.56 $637.50 $0.00 $308.49 $55,505.55
72 $55,505.55 $637.50 $0.00 $313.84 $56,456.89
73 $56,456.89 $637.50 $0.00 $319.22 $57,413.61
74 $57,413.61 $637.50 $0.00 $324.62 $58,375.73
75 $58,375.73 $637.50 $0.00 $330.06 $59,343.29
76 $59,343.29 $637.50 $0.00 $335.54 $60,316.33
77 $60,316.33 $637.50 $0.00 $341.04 $61,294.87
78 $61,294.87 $637.50 $0.00 $346.57 $62,278.94
79 $62,278.94 $637.50 $0.00 $352.13 $63,268.57
80 $63,268.57 $637.50 $0.00 $357.73 $64,263.80
81 $64,263.80 $637.50 $0.00 $363.36 $65,264.66
82 $65,264.66 $637.50 $0.00 $369.02 $66,271.18
83 $66,271.18 $637.50 $0.00 $374.71 $67,283.39
84 $67,283.39 $637.50 $0.00 $380.43 $68,301.32
85 $68,301.32 $637.50 $0.00 $386.19 $69,325.01
86 $69,325.01 $637.50 $0.00 $391.97 $70,354.48
87 $70,354.48 $637.50 $0.00 $397.79 $71,389.77
88 $71,389.77 $637.50 $0.00 $403.65 $72,430.92
89 $72,430.92 $637.50 $0.00 $409.53 $73,477.95
90 $73,477.95 $637.50 $0.00 $415.46 $74,530.91
91 $74,530.91 $637.50 $0.00 $421.41 $75,589.82
92 $75,589.82 $637.50 $0.00 $427.40 $76,654.72
93 $76,654.72 $637.50 $0.00 $433.42 $77,725.64
94 $77,725.64 $637.50 $0.00 $439.47 $78,802.61
95 $78,802.61 $637.50 $0.00 $445.56 $79,885.67
96 $79,885.67 $637.50 $0.00 $451.69 $80,974.86
97 $80,974.86 $637.50 $0.00 $457.84 $82,070.20
98 $82,070.20 $637.50 $0.00 $464.04 $83,171.74
99 $83,171.74 $637.50 $0.00 $470.27 $84,279.51
100 $84,279.51 $637.50 $0.00 $476.53 $85,393.54
101 $85,393.54 $637.50 $0.00 $482.83 $86,513.87
102 $86,513.87 $637.50 $0.00 $489.16 $87,640.53
103 $87,640.53 $637.50 $0.00 $495.53 $88,773.56
104 $88,773.56 $637.50 $0.00 $501.94 $89,913.00
105 $89,913.00 $637.50 $0.00 $508.38 $91,058.88
106 $91,058.88 $637.50 $0.00 $514.86 $92,211.24
107 $92,211.24 $637.50 $0.00 $521.38 $93,370.12
108 $93,370.12 $637.50 $0.00 $527.93 $94,535.55
109 $94,535.55 $637.50 $0.00 $534.52 $95,707.57
110 $95,707.57 $637.50 $0.00 $541.14 $96,886.21
111 $96,886.21 $637.50 $0.00 $547.81 $98,071.52
112 $98,071.52 $637.50 $0.00 $554.51 $99,263.53
113 $99,263.53 $637.50 $0.00 $561.25 $100,462.28
114 $100,462.28 $637.50 $0.00 $568.03 $101,667.81
115 $101,667.81 $637.50 $0.00 $574.84 $102,880.15
116 $102,880.15 $637.50 $0.00 $581.70 $104,099.35
117 $104,099.35 $637.50 $0.00 $588.59 $105,325.44
118 $105,325.44 $637.50 $0.00 $595.53 $106,558.47
119 $106,558.47 $637.50 $0.00 $602.50 $107,798.47
120 $107,798.47 $637.50 $0.00 $609.51 $109,045.48
121 $109,045.48 $637.50 $0.00 $616.56 $110,299.54
122 $110,299.54 $637.50 $0.00 $623.65 $111,560.69
123 $111,560.69 $637.50 $0.00 $630.78 $112,828.97
124 $112,828.97 $637.50 $0.00 $637.95 $114,104.42
125 $114,104.42 $637.50 $0.00 $645.16 $115,387.08
126 $115,387.08 $637.50 $0.00 $652.42 $116,677.00
127 $116,677.00 $637.50 $0.00 $659.71 $117,974.21
128 $117,974.21 $637.50 $0.00 $667.04 $119,278.75
129 $119,278.75 $637.50 $0.00 $674.42 $120,590.67
130 $120,590.67 $637.50 $0.00 $681.84 $121,910.01
131 $121,910.01 $637.50 $0.00 $689.30 $123,236.81
132 $123,236.81 $637.50 $0.00 $696.80 $124,571.11
133 $124,571.11 $637.50 $0.00 $704.34 $125,912.95
134 $125,912.95 $637.50 $0.00 $711.93 $127,262.38
135 $127,262.38 $637.50 $0.00 $719.56 $128,619.44
136 $128,619.44 $637.50 $0.00 $727.23 $129,984.17
137 $129,984.17 $637.50 $0.00 $734.95 $131,356.62
138 $131,356.62 $637.50 $0.00 $742.71 $132,736.83
139 $132,736.83 $637.50 $0.00 $750.51 $134,124.84
140 $134,124.84 $637.50 $0.00 $758.36 $135,520.70
141 $135,520.70 $637.50 $0.00 $766.25 $136,924.45
142 $136,924.45 $637.50 $0.00 $774.19 $138,336.14
143 $138,336.14 $637.50 $0.00 $782.17 $139,755.81
144 $139,755.81 $637.50 $0.00 $790.20 $141,183.51
145 $141,183.51 $637.50 $0.00 $798.27 $142,619.28
146 $142,619.28 $637.50 $0.00 $806.39 $144,063.17
147 $144,063.17 $637.50 $0.00 $814.55 $145,515.22
148 $145,515.22 $637.50 $0.00 $822.76 $146,975.48
149 $146,975.48 $637.50 $0.00 $831.02 $148,444.00
150 $148,444.00 $637.50 $0.00 $839.32 $149,920.82
151 $149,920.82 $637.50 $0.00 $847.67 $151,405.99
152 $151,405.99 $637.50 $0.00 $856.07 $152,899.56
153 $152,899.56 $637.50 $0.00 $864.52 $154,401.58
154 $154,401.58 $637.50 $0.00 $873.01 $155,912.09
155 $155,912.09 $637.50 $0.00 $881.55 $157,431.14
156 $157,431.14 $637.50 $0.00 $890.14 $158,958.78
157 $158,958.78 $637.50 $0.00 $898.78 $160,495.06
158 $160,495.06 $637.50 $0.00 $907.46 $162,040.02
159 $162,040.02 $637.50 $0.00 $916.20 $163,593.72
160 $163,593.72 $637.50 $0.00 $924.98 $165,156.20
161 $165,156.20 $637.50 $0.00 $933.82 $166,727.52
162 $166,727.52 $637.50 $0.00 $942.70 $168,307.72
163 $168,307.72 $637.50 $0.00 $951.64 $169,896.86
164 $169,896.86 $637.50 $0.00 $960.62 $171,494.98
165 $171,494.98 $637.50 $0.00 $969.66 $173,102.14
166 $173,102.14 $637.50 $0.00 $978.74 $174,718.38
167 $174,718.38 $637.50 $0.00 $987.88 $176,343.76
168 $176,343.76 $637.50 $0.00 $997.07 $177,978.33
169 $177,978.33 $637.50 $0.00 $1,006.32 $179,622.15
170 $179,622.15 $637.50 $0.00 $1,015.61 $181,275.26
171 $181,275.26 $637.50 $0.00 $1,024.96 $182,937.72
172 $182,937.72 $637.50 $0.00 $1,034.36 $184,609.58
173 $184,609.58 $637.50 $0.00 $1,043.81 $186,290.89
174 $186,290.89 $637.50 $0.00 $1,053.32 $187,981.71
175 $187,981.71 $637.50 $0.00 $1,062.88 $189,682.09
176 $189,682.09 $637.50 $0.00 $1,072.49 $191,392.08
177 $191,392.08 $637.50 $0.00 $1,082.16 $193,111.74
178 $193,111.74 $637.50 $0.00 $1,091.88 $194,841.12
179 $194,841.12 $637.50 $0.00 $1,101.66 $196,580.28
180 $196,580.28 $637.50 $0.00 $1,111.49 $198,329.27
181 $198,329.27 $637.50 $0.00 $1,121.38 $200,088.15
182 $200,088.15 $637.50 $0.00 $1,131.33 $201,856.98
183 $201,856.98 $637.50 $0.00 $1,141.33 $203,635.81
184 $203,635.81 $637.50 $0.00 $1,151.39 $205,424.70
185 $205,424.70 $637.50 $0.00 $1,161.50 $207,223.70
186 $207,223.70 $637.50 $0.00 $1,171.67 $209,032.87
187 $209,032.87 $637.50 $0.00 $1,181.90 $210,852.27
188 $210,852.27 $637.50 $0.00 $1,192.19 $212,681.96
189 $212,681.96 $637.50 $0.00 $1,202.53 $214,521.99
190 $214,521.99 $637.50 $0.00 $1,212.94 $216,372.43
191 $216,372.43 $637.50 $0.00 $1,223.40 $218,233.33
192 $218,233.33 $637.50 $0.00 $1,233.92 $220,104.75
193 $220,104.75 $637.50 $0.00 $1,244.50 $221,986.75
194 $221,986.75 $637.50 $0.00 $1,255.15 $223,879.40
195 $223,879.40 $637.50 $0.00 $1,265.85 $225,782.75
196 $225,782.75 $637.50 $0.00 $1,276.61 $227,696.86
197 $227,696.86 $637.50 $0.00 $1,287.43 $229,621.79
198 $229,621.79 $637.50 $0.00 $1,298.31 $231,557.60
199 $231,557.60 $637.50 $0.00 $1,309.26 $233,504.36
200 $233,504.36 $637.50 $0.00 $1,320.27 $235,462.13
201 $235,462.13 $637.50 $0.00 $1,331.34 $237,430.97
202 $237,430.97 $637.50 $0.00 $1,342.47 $239,410.94
203 $239,410.94 $637.50 $0.00 $1,353.66 $241,402.10
204 $241,402.10 $637.50 $0.00 $1,364.92 $243,404.52
205 $243,404.52 $637.50 $0.00 $1,376.24 $245,418.26
206 $245,418.26 $637.50 $0.00 $1,387.63 $247,443.39
207 $247,443.39 $637.50 $0.00 $1,399.08 $249,479.97
208 $249,479.97 $637.50 $0.00 $1,410.60 $251,528.07
209 $251,528.07 $637.50 $0.00 $1,422.18 $253,587.75
210 $253,587.75 $637.50 $0.00 $1,433.82 $255,659.07
211 $255,659.07 $637.50 $0.00 $1,445.53 $257,742.10
212 $257,742.10 $637.50 $0.00 $1,457.31 $259,836.91
213 $259,836.91 $637.50 $0.00 $1,469.16 $261,943.57
214 $261,943.57 $637.50 $0.00 $1,481.07 $264,062.14
215 $264,062.14 $637.50 $0.00 $1,493.05 $266,192.69
216 $266,192.69 $637.50 $0.00 $1,505.09 $268,335.28
217 $268,335.28 $637.50 $74,739.97 $1,517.21 $195,750.02
218 $195,750.02 $637.50 $0.00 $1,106.80 $197,494.32
219 $197,494.32 $637.50 $0.00 $1,116.66 $199,248.48
220 $199,248.48 $637.50 $0.00 $1,126.58 $201,012.56
221 $201,012.56 $637.50 $0.00 $1,136.55 $202,786.61
222 $202,786.61 $637.50 $0.00 $1,146.58 $204,570.69
223 $204,570.69 $637.50 $0.00 $1,156.67 $206,364.86
224 $206,364.86 $637.50 $0.00 $1,166.82 $208,169.18
225 $208,169.18 $637.50 $0.00 $1,177.02 $209,983.70
226 $209,983.70 $637.50 $0.00 $1,187.28 $211,808.48
227 $211,808.48 $637.50 $0.00 $1,197.60 $213,643.58
228 $213,643.58 $637.50 $0.00 $1,207.97 $215,489.05
229 $215,489.05 $637.50 $78,476.97 $1,218.41 $138,867.99
230 $138,867.99 $637.50 $0.00 $785.18 $140,290.67
231 $140,290.67 $637.50 $0.00 $793.22 $141,721.39
232 $141,721.39 $637.50 $0.00 $801.31 $143,160.20
233 $143,160.20 $637.50 $0.00 $809.45 $144,607.15
234 $144,607.15 $637.50 $0.00 $817.63 $146,062.28
235 $146,062.28 $637.50 $0.00 $825.86 $147,525.64
236 $147,525.64 $637.50 $0.00 $834.13 $148,997.27
237 $148,997.27 $637.50 $0.00 $842.45 $150,477.22
238 $150,477.22 $637.50 $0.00 $850.82 $151,965.54
239 $151,965.54 $637.50 $0.00 $859.24 $153,462.28
240 $153,462.28 $637.50 $0.00 $867.70 $154,967.48
241 $154,967.48 $637.50 $82,400.81 $876.21 $74,080.38
242 $74,080.38 $637.50 $0.00 $418.86 $75,136.74
243 $75,136.74 $637.50 $0.00 $424.83 $76,199.07
244 $76,199.07 $637.50 $0.00 $430.84 $77,267.41
245 $77,267.41 $637.50 $0.00 $436.88 $78,341.79
246 $78,341.79 $637.50 $0.00 $442.96 $79,422.25
247 $79,422.25 $637.50 $0.00 $449.06 $80,508.81
248 $80,508.81 $637.50 $0.00 $455.21 $81,601.52
249 $81,601.52 $637.50 $0.00 $461.39 $82,700.41
250 $82,700.41 $637.50 $0.00 $467.60 $83,805.51
251 $83,805.51 $637.50 $0.00 $473.85 $84,916.86
252 $84,916.86 $637.50 $0.00 $480.13 $86,034.49
253 $86,034.49 $0.00 $86,520.85 $486.45 $0.09