Savings Plan and Future Cost Estimation for College of Saint Benedict

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$251,100
Monthly savings required$1,984

How much will it cost to send your child to College of Saint Benedict in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $1,004,398.88 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,984.50 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$66,930.00
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 $1,984.50 $0.00 $0.00 $1,984.50
2 $1,984.50 $1,984.50 $0.00 $11.22 $3,980.22
3 $3,980.22 $1,984.50 $0.00 $22.50 $5,987.22
4 $5,987.22 $1,984.50 $0.00 $33.85 $8,005.57
5 $8,005.57 $1,984.50 $0.00 $45.26 $10,035.33
6 $10,035.33 $1,984.50 $0.00 $56.74 $12,076.57
7 $12,076.57 $1,984.50 $0.00 $68.28 $14,129.35
8 $14,129.35 $1,984.50 $0.00 $79.89 $16,193.74
9 $16,193.74 $1,984.50 $0.00 $91.56 $18,269.80
10 $18,269.80 $1,984.50 $0.00 $103.30 $20,357.60
11 $20,357.60 $1,984.50 $0.00 $115.10 $22,457.20
12 $22,457.20 $1,984.50 $0.00 $126.98 $24,568.68
13 $24,568.68 $1,984.50 $0.00 $138.91 $26,692.09
14 $26,692.09 $1,984.50 $0.00 $150.92 $28,827.51
15 $28,827.51 $1,984.50 $0.00 $162.99 $30,975.00
16 $30,975.00 $1,984.50 $0.00 $175.14 $33,134.64
17 $33,134.64 $1,984.50 $0.00 $187.35 $35,306.49
18 $35,306.49 $1,984.50 $0.00 $199.63 $37,490.62
19 $37,490.62 $1,984.50 $0.00 $211.98 $39,687.10
20 $39,687.10 $1,984.50 $0.00 $224.40 $41,896.00
21 $41,896.00 $1,984.50 $0.00 $236.89 $44,117.39
22 $44,117.39 $1,984.50 $0.00 $249.45 $46,351.34
23 $46,351.34 $1,984.50 $0.00 $262.08 $48,597.92
24 $48,597.92 $1,984.50 $0.00 $274.78 $50,857.20
25 $50,857.20 $1,984.50 $0.00 $287.55 $53,129.25
26 $53,129.25 $1,984.50 $0.00 $300.40 $55,414.15
27 $55,414.15 $1,984.50 $0.00 $313.32 $57,711.97
28 $57,711.97 $1,984.50 $0.00 $326.31 $60,022.78
29 $60,022.78 $1,984.50 $0.00 $339.38 $62,346.66
30 $62,346.66 $1,984.50 $0.00 $352.52 $64,683.68
31 $64,683.68 $1,984.50 $0.00 $365.73 $67,033.91
32 $67,033.91 $1,984.50 $0.00 $379.02 $69,397.43
33 $69,397.43 $1,984.50 $0.00 $392.38 $71,774.31
34 $71,774.31 $1,984.50 $0.00 $405.82 $74,164.63
35 $74,164.63 $1,984.50 $0.00 $419.34 $76,568.47
36 $76,568.47 $1,984.50 $0.00 $432.93 $78,985.90
37 $78,985.90 $1,984.50 $0.00 $446.60 $81,417.00
38 $81,417.00 $1,984.50 $0.00 $460.34 $83,861.84
39 $83,861.84 $1,984.50 $0.00 $474.17 $86,320.51
40 $86,320.51 $1,984.50 $0.00 $488.07 $88,793.08
41 $88,793.08 $1,984.50 $0.00 $502.05 $91,279.63
42 $91,279.63 $1,984.50 $0.00 $516.11 $93,780.24
43 $93,780.24 $1,984.50 $0.00 $530.25 $96,294.99
44 $96,294.99 $1,984.50 $0.00 $544.47 $98,823.96
45 $98,823.96 $1,984.50 $0.00 $558.77 $101,367.23
46 $101,367.23 $1,984.50 $0.00 $573.15 $103,924.88
47 $103,924.88 $1,984.50 $0.00 $587.61 $106,496.99
48 $106,496.99 $1,984.50 $0.00 $602.15 $109,083.64
49 $109,083.64 $1,984.50 $0.00 $616.77 $111,684.91
50 $111,684.91 $1,984.50 $0.00 $631.48 $114,300.89
51 $114,300.89 $1,984.50 $0.00 $646.27 $116,931.66
52 $116,931.66 $1,984.50 $0.00 $661.15 $119,577.31
53 $119,577.31 $1,984.50 $0.00 $676.11 $122,237.92
54 $122,237.92 $1,984.50 $0.00 $691.15 $124,913.57
55 $124,913.57 $1,984.50 $0.00 $706.28 $127,604.35
56 $127,604.35 $1,984.50 $0.00 $721.49 $130,310.34
57 $130,310.34 $1,984.50 $0.00 $736.79 $133,031.63
58 $133,031.63 $1,984.50 $0.00 $752.18 $135,768.31
59 $135,768.31 $1,984.50 $0.00 $767.65 $138,520.46
60 $138,520.46 $1,984.50 $0.00 $783.21 $141,288.17
61 $141,288.17 $1,984.50 $0.00 $798.86 $144,071.53
62 $144,071.53 $1,984.50 $0.00 $814.60 $146,870.63
63 $146,870.63 $1,984.50 $0.00 $830.43 $149,685.56
64 $149,685.56 $1,984.50 $0.00 $846.34 $152,516.40
65 $152,516.40 $1,984.50 $0.00 $862.35 $155,363.25
66 $155,363.25 $1,984.50 $0.00 $878.45 $158,226.20
67 $158,226.20 $1,984.50 $0.00 $894.63 $161,105.33
68 $161,105.33 $1,984.50 $0.00 $910.91 $164,000.74
69 $164,000.74 $1,984.50 $0.00 $927.28 $166,912.52
70 $166,912.52 $1,984.50 $0.00 $943.75 $169,840.77
71 $169,840.77 $1,984.50 $0.00 $960.30 $172,785.57
72 $172,785.57 $1,984.50 $0.00 $976.95 $175,747.02
73 $175,747.02 $1,984.50 $0.00 $993.70 $178,725.22
74 $178,725.22 $1,984.50 $0.00 $1,010.54 $181,720.26
75 $181,720.26 $1,984.50 $0.00 $1,027.47 $184,732.23
76 $184,732.23 $1,984.50 $0.00 $1,044.50 $187,761.23
77 $187,761.23 $1,984.50 $0.00 $1,061.63 $190,807.36
78 $190,807.36 $1,984.50 $0.00 $1,078.85 $193,870.71
79 $193,870.71 $1,984.50 $0.00 $1,096.17 $196,951.38
80 $196,951.38 $1,984.50 $0.00 $1,113.59 $200,049.47
81 $200,049.47 $1,984.50 $0.00 $1,131.11 $203,165.08
82 $203,165.08 $1,984.50 $0.00 $1,148.72 $206,298.30
83 $206,298.30 $1,984.50 $0.00 $1,166.44 $209,449.24
84 $209,449.24 $1,984.50 $0.00 $1,184.26 $212,618.00
85 $212,618.00 $1,984.50 $0.00 $1,202.17 $215,804.67
86 $215,804.67 $1,984.50 $0.00 $1,220.19 $219,009.36
87 $219,009.36 $1,984.50 $0.00 $1,238.31 $222,232.17
88 $222,232.17 $1,984.50 $0.00 $1,256.53 $225,473.20
89 $225,473.20 $1,984.50 $0.00 $1,274.86 $228,732.56
90 $228,732.56 $1,984.50 $0.00 $1,293.29 $232,010.35
91 $232,010.35 $1,984.50 $0.00 $1,311.82 $235,306.67
92 $235,306.67 $1,984.50 $0.00 $1,330.46 $238,621.63
93 $238,621.63 $1,984.50 $0.00 $1,349.20 $241,955.33
94 $241,955.33 $1,984.50 $0.00 $1,368.05 $245,307.88
95 $245,307.88 $1,984.50 $0.00 $1,387.01 $248,679.39
96 $248,679.39 $1,984.50 $0.00 $1,406.07 $252,069.96
97 $252,069.96 $1,984.50 $0.00 $1,425.24 $255,479.70
98 $255,479.70 $1,984.50 $0.00 $1,444.52 $258,908.72
99 $258,908.72 $1,984.50 $0.00 $1,463.91 $262,357.13
100 $262,357.13 $1,984.50 $0.00 $1,483.41 $265,825.04
101 $265,825.04 $1,984.50 $0.00 $1,503.01 $269,312.55
102 $269,312.55 $1,984.50 $0.00 $1,522.73 $272,819.78
103 $272,819.78 $1,984.50 $0.00 $1,542.56 $276,346.84
104 $276,346.84 $1,984.50 $0.00 $1,562.51 $279,893.85
105 $279,893.85 $1,984.50 $0.00 $1,582.56 $283,460.91
106 $283,460.91 $1,984.50 $0.00 $1,602.73 $287,048.14
107 $287,048.14 $1,984.50 $0.00 $1,623.01 $290,655.65
108 $290,655.65 $1,984.50 $0.00 $1,643.41 $294,283.56
109 $294,283.56 $1,984.50 $0.00 $1,663.92 $297,931.98
110 $297,931.98 $1,984.50 $0.00 $1,684.55 $301,601.03
111 $301,601.03 $1,984.50 $0.00 $1,705.30 $305,290.83
112 $305,290.83 $1,984.50 $0.00 $1,726.16 $309,001.49
113 $309,001.49 $1,984.50 $0.00 $1,747.14 $312,733.13
114 $312,733.13 $1,984.50 $0.00 $1,768.24 $316,485.87
115 $316,485.87 $1,984.50 $0.00 $1,789.46 $320,259.83
116 $320,259.83 $1,984.50 $0.00 $1,810.80 $324,055.13
117 $324,055.13 $1,984.50 $0.00 $1,832.25 $327,871.88
118 $327,871.88 $1,984.50 $0.00 $1,853.84 $331,710.22
119 $331,710.22 $1,984.50 $0.00 $1,875.54 $335,570.26
120 $335,570.26 $1,984.50 $0.00 $1,897.36 $339,452.12
121 $339,452.12 $1,984.50 $0.00 $1,919.31 $343,355.93
122 $343,355.93 $1,984.50 $0.00 $1,941.38 $347,281.81
123 $347,281.81 $1,984.50 $0.00 $1,963.58 $351,229.89
124 $351,229.89 $1,984.50 $0.00 $1,985.90 $355,200.29
125 $355,200.29 $1,984.50 $0.00 $2,008.35 $359,193.14
126 $359,193.14 $1,984.50 $0.00 $2,030.93 $363,208.57
127 $363,208.57 $1,984.50 $0.00 $2,053.63 $367,246.70
128 $367,246.70 $1,984.50 $0.00 $2,076.47 $371,307.67
129 $371,307.67 $1,984.50 $0.00 $2,099.43 $375,391.60
130 $375,391.60 $1,984.50 $0.00 $2,122.52 $379,498.62
131 $379,498.62 $1,984.50 $0.00 $2,145.74 $383,628.86
132 $383,628.86 $1,984.50 $0.00 $2,169.09 $387,782.45
133 $387,782.45 $1,984.50 $0.00 $2,192.58 $391,959.53
134 $391,959.53 $1,984.50 $0.00 $2,216.20 $396,160.23
135 $396,160.23 $1,984.50 $0.00 $2,239.95 $400,384.68
136 $400,384.68 $1,984.50 $0.00 $2,263.83 $404,633.01
137 $404,633.01 $1,984.50 $0.00 $2,287.85 $408,905.36
138 $408,905.36 $1,984.50 $0.00 $2,312.01 $413,201.87
139 $413,201.87 $1,984.50 $0.00 $2,336.30 $417,522.67
140 $417,522.67 $1,984.50 $0.00 $2,360.73 $421,867.90
141 $421,867.90 $1,984.50 $0.00 $2,385.30 $426,237.70
142 $426,237.70 $1,984.50 $0.00 $2,410.01 $430,632.21
143 $430,632.21 $1,984.50 $0.00 $2,434.86 $435,051.57
144 $435,051.57 $1,984.50 $0.00 $2,459.84 $439,495.91
145 $439,495.91 $1,984.50 $0.00 $2,484.97 $443,965.38
146 $443,965.38 $1,984.50 $0.00 $2,510.24 $448,460.12
147 $448,460.12 $1,984.50 $0.00 $2,535.66 $452,980.28
148 $452,980.28 $1,984.50 $0.00 $2,561.22 $457,526.00
149 $457,526.00 $1,984.50 $0.00 $2,586.92 $462,097.42
150 $462,097.42 $1,984.50 $0.00 $2,612.77 $466,694.69
151 $466,694.69 $1,984.50 $0.00 $2,638.76 $471,317.95
152 $471,317.95 $1,984.50 $0.00 $2,664.90 $475,967.35
153 $475,967.35 $1,984.50 $0.00 $2,691.19 $480,643.04
154 $480,643.04 $1,984.50 $0.00 $2,717.63 $485,345.17
155 $485,345.17 $1,984.50 $0.00 $2,744.21 $490,073.88
156 $490,073.88 $1,984.50 $0.00 $2,770.95 $494,829.33
157 $494,829.33 $1,984.50 $0.00 $2,797.84 $499,611.67
158 $499,611.67 $1,984.50 $0.00 $2,824.88 $504,421.05
159 $504,421.05 $1,984.50 $0.00 $2,852.07 $509,257.62
160 $509,257.62 $1,984.50 $0.00 $2,879.42 $514,121.54
161 $514,121.54 $1,984.50 $0.00 $2,906.92 $519,012.96
162 $519,012.96 $1,984.50 $0.00 $2,934.57 $523,932.03
163 $523,932.03 $1,984.50 $0.00 $2,962.39 $528,878.92
164 $528,878.92 $1,984.50 $0.00 $2,990.36 $533,853.78
165 $533,853.78 $1,984.50 $0.00 $3,018.49 $538,856.77
166 $538,856.77 $1,984.50 $0.00 $3,046.77 $543,888.04
167 $543,888.04 $1,984.50 $0.00 $3,075.22 $548,947.76
168 $548,947.76 $1,984.50 $0.00 $3,103.83 $554,036.09
169 $554,036.09 $1,984.50 $0.00 $3,132.60 $559,153.19
170 $559,153.19 $1,984.50 $0.00 $3,161.53 $564,299.22
171 $564,299.22 $1,984.50 $0.00 $3,190.63 $569,474.35
172 $569,474.35 $1,984.50 $0.00 $3,219.89 $574,678.74
173 $574,678.74 $1,984.50 $0.00 $3,249.32 $579,912.56
174 $579,912.56 $1,984.50 $0.00 $3,278.91 $585,175.97
175 $585,175.97 $1,984.50 $0.00 $3,308.67 $590,469.14
176 $590,469.14 $1,984.50 $0.00 $3,338.60 $595,792.24
177 $595,792.24 $1,984.50 $0.00 $3,368.70 $601,145.44
178 $601,145.44 $1,984.50 $0.00 $3,398.96 $606,528.90
179 $606,528.90 $1,984.50 $0.00 $3,429.40 $611,942.80
180 $611,942.80 $1,984.50 $0.00 $3,460.01 $617,387.31
181 $617,387.31 $1,984.50 $0.00 $3,490.80 $622,862.61
182 $622,862.61 $1,984.50 $0.00 $3,521.76 $628,368.87
183 $628,368.87 $1,984.50 $0.00 $3,552.89 $633,906.26
184 $633,906.26 $1,984.50 $0.00 $3,584.20 $639,474.96
185 $639,474.96 $1,984.50 $0.00 $3,615.68 $645,075.14
186 $645,075.14 $1,984.50 $0.00 $3,647.35 $650,706.99
187 $650,706.99 $1,984.50 $0.00 $3,679.19 $656,370.68
188 $656,370.68 $1,984.50 $0.00 $3,711.22 $662,066.40
189 $662,066.40 $1,984.50 $0.00 $3,743.42 $667,794.32
190 $667,794.32 $1,984.50 $0.00 $3,775.81 $673,554.63
191 $673,554.63 $1,984.50 $0.00 $3,808.38 $679,347.51
192 $679,347.51 $1,984.50 $0.00 $3,841.13 $685,173.14
193 $685,173.14 $1,984.50 $0.00 $3,874.07 $691,031.71
194 $691,031.71 $1,984.50 $0.00 $3,907.19 $696,923.40
195 $696,923.40 $1,984.50 $0.00 $3,940.51 $702,848.41
196 $702,848.41 $1,984.50 $0.00 $3,974.01 $708,806.92
197 $708,806.92 $1,984.50 $0.00 $4,007.70 $714,799.12
198 $714,799.12 $1,984.50 $0.00 $4,041.58 $720,825.20
199 $720,825.20 $1,984.50 $0.00 $4,075.65 $726,885.35
200 $726,885.35 $1,984.50 $0.00 $4,109.92 $732,979.77
201 $732,979.77 $1,984.50 $0.00 $4,144.37 $739,108.64
202 $739,108.64 $1,984.50 $0.00 $4,179.03 $745,272.17
203 $745,272.17 $1,984.50 $0.00 $4,213.88 $751,470.55
204 $751,470.55 $1,984.50 $0.00 $4,248.92 $757,703.97
205 $757,703.97 $1,984.50 $0.00 $4,284.17 $763,972.64
206 $763,972.64 $1,984.50 $0.00 $4,319.61 $770,276.75
207 $770,276.75 $1,984.50 $0.00 $4,355.26 $776,616.51
208 $776,616.51 $1,984.50 $0.00 $4,391.10 $782,992.11
209 $782,992.11 $1,984.50 $0.00 $4,427.15 $789,403.76
210 $789,403.76 $1,984.50 $0.00 $4,463.40 $795,851.66
211 $795,851.66 $1,984.50 $0.00 $4,499.86 $802,336.02
212 $802,336.02 $1,984.50 $0.00 $4,536.52 $808,857.04
213 $808,857.04 $1,984.50 $0.00 $4,573.40 $815,414.94
214 $815,414.94 $1,984.50 $0.00 $4,610.47 $822,009.91
215 $822,009.91 $1,984.50 $0.00 $4,647.76 $828,642.17
216 $828,642.17 $1,984.50 $0.00 $4,685.26 $835,311.93
217 $835,311.93 $1,984.50 $226,218.87 $4,722.98 $615,800.54
218 $615,800.54 $1,984.50 $0.00 $3,481.83 $621,266.87
219 $621,266.87 $1,984.50 $0.00 $3,512.73 $626,764.10
220 $626,764.10 $1,984.50 $0.00 $3,543.82 $632,292.42
221 $632,292.42 $1,984.50 $0.00 $3,575.07 $637,851.99
222 $637,851.99 $1,984.50 $0.00 $3,606.51 $643,443.00
223 $643,443.00 $1,984.50 $0.00 $3,638.12 $649,065.62
224 $649,065.62 $1,984.50 $0.00 $3,669.91 $654,720.03
225 $654,720.03 $1,984.50 $0.00 $3,701.88 $660,406.41
226 $660,406.41 $1,984.50 $0.00 $3,734.03 $666,124.94
227 $666,124.94 $1,984.50 $0.00 $3,766.37 $671,875.81
228 $671,875.81 $1,984.50 $0.00 $3,798.88 $677,659.19
229 $677,659.19 $1,984.50 $242,054.19 $3,831.58 $441,421.08
230 $441,421.08 $1,984.50 $0.00 $2,495.86 $445,901.44
231 $445,901.44 $1,984.50 $0.00 $2,521.19 $450,407.13
232 $450,407.13 $1,984.50 $0.00 $2,546.67 $454,938.30
233 $454,938.30 $1,984.50 $0.00 $2,572.29 $459,495.09
234 $459,495.09 $1,984.50 $0.00 $2,598.05 $464,077.64
235 $464,077.64 $1,984.50 $0.00 $2,623.96 $468,686.10
236 $468,686.10 $1,984.50 $0.00 $2,650.02 $473,320.62
237 $473,320.62 $1,984.50 $0.00 $2,676.22 $477,981.34
238 $477,981.34 $1,984.50 $0.00 $2,702.58 $482,668.42
239 $482,668.42 $1,984.50 $0.00 $2,729.08 $487,382.00
240 $487,382.00 $1,984.50 $0.00 $2,755.73 $492,122.23
241 $492,122.23 $1,984.50 $258,997.98 $2,782.53 $237,891.28
242 $237,891.28 $1,984.50 $0.00 $1,345.07 $241,220.85
243 $241,220.85 $1,984.50 $0.00 $1,363.90 $244,569.25
244 $244,569.25 $1,984.50 $0.00 $1,382.83 $247,936.58
245 $247,936.58 $1,984.50 $0.00 $1,401.87 $251,322.95
246 $251,322.95 $1,984.50 $0.00 $1,421.02 $254,728.47
247 $254,728.47 $1,984.50 $0.00 $1,440.27 $258,153.24
248 $258,153.24 $1,984.50 $0.00 $1,459.64 $261,597.38
249 $261,597.38 $1,984.50 $0.00 $1,479.11 $265,060.99
250 $265,060.99 $1,984.50 $0.00 $1,498.69 $268,544.18
251 $268,544.18 $1,984.50 $0.00 $1,518.39 $272,047.07
252 $272,047.07 $1,984.50 $0.00 $1,538.19 $275,569.76
253 $275,569.76 $0.00 $277,127.84 $1,558.11 $0.03