Savings Plan and Future Cost Estimation for Hamline University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$224,159
Monthly savings required$1,772

How much will it cost to send your child to Hamline University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $896,635.72 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,771.58 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$59,749.00
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 $1,771.58 $0.00 $0.00 $1,771.58
2 $1,771.58 $1,771.58 $0.00 $10.02 $3,553.18
3 $3,553.18 $1,771.58 $0.00 $20.09 $5,344.85
4 $5,344.85 $1,771.58 $0.00 $30.22 $7,146.65
5 $7,146.65 $1,771.58 $0.00 $40.41 $8,958.64
6 $8,958.64 $1,771.58 $0.00 $50.65 $10,780.87
7 $10,780.87 $1,771.58 $0.00 $60.96 $12,613.41
8 $12,613.41 $1,771.58 $0.00 $71.32 $14,456.31
9 $14,456.31 $1,771.58 $0.00 $81.74 $16,309.63
10 $16,309.63 $1,771.58 $0.00 $92.22 $18,173.43
11 $18,173.43 $1,771.58 $0.00 $102.76 $20,047.77
12 $20,047.77 $1,771.58 $0.00 $113.35 $21,932.70
13 $21,932.70 $1,771.58 $0.00 $124.01 $23,828.29
14 $23,828.29 $1,771.58 $0.00 $134.73 $25,734.60
15 $25,734.60 $1,771.58 $0.00 $145.51 $27,651.69
16 $27,651.69 $1,771.58 $0.00 $156.35 $29,579.62
17 $29,579.62 $1,771.58 $0.00 $167.25 $31,518.45
18 $31,518.45 $1,771.58 $0.00 $178.21 $33,468.24
19 $33,468.24 $1,771.58 $0.00 $189.23 $35,429.05
20 $35,429.05 $1,771.58 $0.00 $200.32 $37,400.95
21 $37,400.95 $1,771.58 $0.00 $211.47 $39,384.00
22 $39,384.00 $1,771.58 $0.00 $222.68 $41,378.26
23 $41,378.26 $1,771.58 $0.00 $233.96 $43,383.80
24 $43,383.80 $1,771.58 $0.00 $245.30 $45,400.68
25 $45,400.68 $1,771.58 $0.00 $256.70 $47,428.96
26 $47,428.96 $1,771.58 $0.00 $268.17 $49,468.71
27 $49,468.71 $1,771.58 $0.00 $279.70 $51,519.99
28 $51,519.99 $1,771.58 $0.00 $291.30 $53,582.87
29 $53,582.87 $1,771.58 $0.00 $302.97 $55,657.42
30 $55,657.42 $1,771.58 $0.00 $314.70 $57,743.70
31 $57,743.70 $1,771.58 $0.00 $326.49 $59,841.77
32 $59,841.77 $1,771.58 $0.00 $338.35 $61,951.70
33 $61,951.70 $1,771.58 $0.00 $350.28 $64,073.56
34 $64,073.56 $1,771.58 $0.00 $362.28 $66,207.42
35 $66,207.42 $1,771.58 $0.00 $374.35 $68,353.35
36 $68,353.35 $1,771.58 $0.00 $386.48 $70,511.41
37 $70,511.41 $1,771.58 $0.00 $398.68 $72,681.67
38 $72,681.67 $1,771.58 $0.00 $410.95 $74,864.20
39 $74,864.20 $1,771.58 $0.00 $423.29 $77,059.07
40 $77,059.07 $1,771.58 $0.00 $435.70 $79,266.35
41 $79,266.35 $1,771.58 $0.00 $448.18 $81,486.11
42 $81,486.11 $1,771.58 $0.00 $460.73 $83,718.42
43 $83,718.42 $1,771.58 $0.00 $473.36 $85,963.36
44 $85,963.36 $1,771.58 $0.00 $486.05 $88,220.99
45 $88,220.99 $1,771.58 $0.00 $498.81 $90,491.38
46 $90,491.38 $1,771.58 $0.00 $511.65 $92,774.61
47 $92,774.61 $1,771.58 $0.00 $524.56 $95,070.75
48 $95,070.75 $1,771.58 $0.00 $537.54 $97,379.87
49 $97,379.87 $1,771.58 $0.00 $550.60 $99,702.05
50 $99,702.05 $1,771.58 $0.00 $563.73 $102,037.36
51 $102,037.36 $1,771.58 $0.00 $576.93 $104,385.87
52 $104,385.87 $1,771.58 $0.00 $590.21 $106,747.66
53 $106,747.66 $1,771.58 $0.00 $603.57 $109,122.81
54 $109,122.81 $1,771.58 $0.00 $617.00 $111,511.39
55 $111,511.39 $1,771.58 $0.00 $630.50 $113,913.47
56 $113,913.47 $1,771.58 $0.00 $644.08 $116,329.13
57 $116,329.13 $1,771.58 $0.00 $657.74 $118,758.45
58 $118,758.45 $1,771.58 $0.00 $671.48 $121,201.51
59 $121,201.51 $1,771.58 $0.00 $685.29 $123,658.38
60 $123,658.38 $1,771.58 $0.00 $699.18 $126,129.14
61 $126,129.14 $1,771.58 $0.00 $713.15 $128,613.87
62 $128,613.87 $1,771.58 $0.00 $727.20 $131,112.65
63 $131,112.65 $1,771.58 $0.00 $741.33 $133,625.56
64 $133,625.56 $1,771.58 $0.00 $755.54 $136,152.68
65 $136,152.68 $1,771.58 $0.00 $769.83 $138,694.09
66 $138,694.09 $1,771.58 $0.00 $784.20 $141,249.87
67 $141,249.87 $1,771.58 $0.00 $798.65 $143,820.10
68 $143,820.10 $1,771.58 $0.00 $813.18 $146,404.86
69 $146,404.86 $1,771.58 $0.00 $827.79 $149,004.23
70 $149,004.23 $1,771.58 $0.00 $842.49 $151,618.30
71 $151,618.30 $1,771.58 $0.00 $857.27 $154,247.15
72 $154,247.15 $1,771.58 $0.00 $872.14 $156,890.87
73 $156,890.87 $1,771.58 $0.00 $887.08 $159,549.53
74 $159,549.53 $1,771.58 $0.00 $902.12 $162,223.23
75 $162,223.23 $1,771.58 $0.00 $917.23 $164,912.04
76 $164,912.04 $1,771.58 $0.00 $932.44 $167,616.06
77 $167,616.06 $1,771.58 $0.00 $947.73 $170,335.37
78 $170,335.37 $1,771.58 $0.00 $963.10 $173,070.05
79 $173,070.05 $1,771.58 $0.00 $978.56 $175,820.19
80 $175,820.19 $1,771.58 $0.00 $994.11 $178,585.88
81 $178,585.88 $1,771.58 $0.00 $1,009.75 $181,367.21
82 $181,367.21 $1,771.58 $0.00 $1,025.48 $184,164.27
83 $184,164.27 $1,771.58 $0.00 $1,041.29 $186,977.14
84 $186,977.14 $1,771.58 $0.00 $1,057.20 $189,805.92
85 $189,805.92 $1,771.58 $0.00 $1,073.19 $192,650.69
86 $192,650.69 $1,771.58 $0.00 $1,089.28 $195,511.55
87 $195,511.55 $1,771.58 $0.00 $1,105.45 $198,388.58
88 $198,388.58 $1,771.58 $0.00 $1,121.72 $201,281.88
89 $201,281.88 $1,771.58 $0.00 $1,138.08 $204,191.54
90 $204,191.54 $1,771.58 $0.00 $1,154.53 $207,117.65
91 $207,117.65 $1,771.58 $0.00 $1,171.07 $210,060.30
92 $210,060.30 $1,771.58 $0.00 $1,187.71 $213,019.59
93 $213,019.59 $1,771.58 $0.00 $1,204.44 $215,995.61
94 $215,995.61 $1,771.58 $0.00 $1,221.27 $218,988.46
95 $218,988.46 $1,771.58 $0.00 $1,238.19 $221,998.23
96 $221,998.23 $1,771.58 $0.00 $1,255.21 $225,025.02
97 $225,025.02 $1,771.58 $0.00 $1,272.32 $228,068.92
98 $228,068.92 $1,771.58 $0.00 $1,289.53 $231,130.03
99 $231,130.03 $1,771.58 $0.00 $1,306.84 $234,208.45
100 $234,208.45 $1,771.58 $0.00 $1,324.25 $237,304.28
101 $237,304.28 $1,771.58 $0.00 $1,341.75 $240,417.61
102 $240,417.61 $1,771.58 $0.00 $1,359.36 $243,548.55
103 $243,548.55 $1,771.58 $0.00 $1,377.06 $246,697.19
104 $246,697.19 $1,771.58 $0.00 $1,394.86 $249,863.63
105 $249,863.63 $1,771.58 $0.00 $1,412.77 $253,047.98
106 $253,047.98 $1,771.58 $0.00 $1,430.77 $256,250.33
107 $256,250.33 $1,771.58 $0.00 $1,448.88 $259,470.79
108 $259,470.79 $1,771.58 $0.00 $1,467.09 $262,709.46
109 $262,709.46 $1,771.58 $0.00 $1,485.40 $265,966.44
110 $265,966.44 $1,771.58 $0.00 $1,503.81 $269,241.83
111 $269,241.83 $1,771.58 $0.00 $1,522.33 $272,535.74
112 $272,535.74 $1,771.58 $0.00 $1,540.96 $275,848.28
113 $275,848.28 $1,771.58 $0.00 $1,559.69 $279,179.55
114 $279,179.55 $1,771.58 $0.00 $1,578.52 $282,529.65
115 $282,529.65 $1,771.58 $0.00 $1,597.46 $285,898.69
116 $285,898.69 $1,771.58 $0.00 $1,616.51 $289,286.78
117 $289,286.78 $1,771.58 $0.00 $1,635.67 $292,694.03
118 $292,694.03 $1,771.58 $0.00 $1,654.93 $296,120.54
119 $296,120.54 $1,771.58 $0.00 $1,674.31 $299,566.43
120 $299,566.43 $1,771.58 $0.00 $1,693.79 $303,031.80
121 $303,031.80 $1,771.58 $0.00 $1,713.39 $306,516.77
122 $306,516.77 $1,771.58 $0.00 $1,733.09 $310,021.44
123 $310,021.44 $1,771.58 $0.00 $1,752.91 $313,545.93
124 $313,545.93 $1,771.58 $0.00 $1,772.83 $317,090.34
125 $317,090.34 $1,771.58 $0.00 $1,792.87 $320,654.79
126 $320,654.79 $1,771.58 $0.00 $1,813.03 $324,239.40
127 $324,239.40 $1,771.58 $0.00 $1,833.30 $327,844.28
128 $327,844.28 $1,771.58 $0.00 $1,853.68 $331,469.54
129 $331,469.54 $1,771.58 $0.00 $1,874.18 $335,115.30
130 $335,115.30 $1,771.58 $0.00 $1,894.79 $338,781.67
131 $338,781.67 $1,771.58 $0.00 $1,915.52 $342,468.77
132 $342,468.77 $1,771.58 $0.00 $1,936.37 $346,176.72
133 $346,176.72 $1,771.58 $0.00 $1,957.33 $349,905.63
134 $349,905.63 $1,771.58 $0.00 $1,978.42 $353,655.63
135 $353,655.63 $1,771.58 $0.00 $1,999.62 $357,426.83
136 $357,426.83 $1,771.58 $0.00 $2,020.94 $361,219.35
137 $361,219.35 $1,771.58 $0.00 $2,042.39 $365,033.32
138 $365,033.32 $1,771.58 $0.00 $2,063.95 $368,868.85
139 $368,868.85 $1,771.58 $0.00 $2,085.64 $372,726.07
140 $372,726.07 $1,771.58 $0.00 $2,107.45 $376,605.10
141 $376,605.10 $1,771.58 $0.00 $2,129.38 $380,506.06
142 $380,506.06 $1,771.58 $0.00 $2,151.44 $384,429.08
143 $384,429.08 $1,771.58 $0.00 $2,173.62 $388,374.28
144 $388,374.28 $1,771.58 $0.00 $2,195.92 $392,341.78
145 $392,341.78 $1,771.58 $0.00 $2,218.36 $396,331.72
146 $396,331.72 $1,771.58 $0.00 $2,240.92 $400,344.22
147 $400,344.22 $1,771.58 $0.00 $2,263.60 $404,379.40
148 $404,379.40 $1,771.58 $0.00 $2,286.42 $408,437.40
149 $408,437.40 $1,771.58 $0.00 $2,309.36 $412,518.34
150 $412,518.34 $1,771.58 $0.00 $2,332.44 $416,622.36
151 $416,622.36 $1,771.58 $0.00 $2,355.64 $420,749.58
152 $420,749.58 $1,771.58 $0.00 $2,378.98 $424,900.14
153 $424,900.14 $1,771.58 $0.00 $2,402.45 $429,074.17
154 $429,074.17 $1,771.58 $0.00 $2,426.05 $433,271.80
155 $433,271.80 $1,771.58 $0.00 $2,449.78 $437,493.16
156 $437,493.16 $1,771.58 $0.00 $2,473.65 $441,738.39
157 $441,738.39 $1,771.58 $0.00 $2,497.65 $446,007.62
158 $446,007.62 $1,771.58 $0.00 $2,521.79 $450,300.99
159 $450,300.99 $1,771.58 $0.00 $2,546.07 $454,618.64
160 $454,618.64 $1,771.58 $0.00 $2,570.48 $458,960.70
161 $458,960.70 $1,771.58 $0.00 $2,595.03 $463,327.31
162 $463,327.31 $1,771.58 $0.00 $2,619.72 $467,718.61
163 $467,718.61 $1,771.58 $0.00 $2,644.55 $472,134.74
164 $472,134.74 $1,771.58 $0.00 $2,669.52 $476,575.84
165 $476,575.84 $1,771.58 $0.00 $2,694.63 $481,042.05
166 $481,042.05 $1,771.58 $0.00 $2,719.88 $485,533.51
167 $485,533.51 $1,771.58 $0.00 $2,745.28 $490,050.37
168 $490,050.37 $1,771.58 $0.00 $2,770.82 $494,592.77
169 $494,592.77 $1,771.58 $0.00 $2,796.50 $499,160.85
170 $499,160.85 $1,771.58 $0.00 $2,822.33 $503,754.76
171 $503,754.76 $1,771.58 $0.00 $2,848.30 $508,374.64
172 $508,374.64 $1,771.58 $0.00 $2,874.42 $513,020.64
173 $513,020.64 $1,771.58 $0.00 $2,900.69 $517,692.91
174 $517,692.91 $1,771.58 $0.00 $2,927.11 $522,391.60
175 $522,391.60 $1,771.58 $0.00 $2,953.68 $527,116.86
176 $527,116.86 $1,771.58 $0.00 $2,980.40 $531,868.84
177 $531,868.84 $1,771.58 $0.00 $3,007.26 $536,647.68
178 $536,647.68 $1,771.58 $0.00 $3,034.28 $541,453.54
179 $541,453.54 $1,771.58 $0.00 $3,061.46 $546,286.58
180 $546,286.58 $1,771.58 $0.00 $3,088.78 $551,146.94
181 $551,146.94 $1,771.58 $0.00 $3,116.26 $556,034.78
182 $556,034.78 $1,771.58 $0.00 $3,143.90 $560,950.26
183 $560,950.26 $1,771.58 $0.00 $3,171.69 $565,893.53
184 $565,893.53 $1,771.58 $0.00 $3,199.64 $570,864.75
185 $570,864.75 $1,771.58 $0.00 $3,227.75 $575,864.08
186 $575,864.08 $1,771.58 $0.00 $3,256.02 $580,891.68
187 $580,891.68 $1,771.58 $0.00 $3,284.45 $585,947.71
188 $585,947.71 $1,771.58 $0.00 $3,313.03 $591,032.32
189 $591,032.32 $1,771.58 $0.00 $3,341.78 $596,145.68
190 $596,145.68 $1,771.58 $0.00 $3,370.69 $601,287.95
191 $601,287.95 $1,771.58 $0.00 $3,399.77 $606,459.30
192 $606,459.30 $1,771.58 $0.00 $3,429.01 $611,659.89
193 $611,659.89 $1,771.58 $0.00 $3,458.41 $616,889.88
194 $616,889.88 $1,771.58 $0.00 $3,487.99 $622,149.45
195 $622,149.45 $1,771.58 $0.00 $3,517.72 $627,438.75
196 $627,438.75 $1,771.58 $0.00 $3,547.63 $632,757.96
197 $632,757.96 $1,771.58 $0.00 $3,577.71 $638,107.25
198 $638,107.25 $1,771.58 $0.00 $3,607.95 $643,486.78
199 $643,486.78 $1,771.58 $0.00 $3,638.37 $648,896.73
200 $648,896.73 $1,771.58 $0.00 $3,668.96 $654,337.27
201 $654,337.27 $1,771.58 $0.00 $3,699.72 $659,808.57
202 $659,808.57 $1,771.58 $0.00 $3,730.65 $665,310.80
203 $665,310.80 $1,771.58 $0.00 $3,761.76 $670,844.14
204 $670,844.14 $1,771.58 $0.00 $3,793.05 $676,408.77
205 $676,408.77 $1,771.58 $0.00 $3,824.51 $682,004.86
206 $682,004.86 $1,771.58 $0.00 $3,856.15 $687,632.59
207 $687,632.59 $1,771.58 $0.00 $3,887.97 $693,292.14
208 $693,292.14 $1,771.58 $0.00 $3,919.97 $698,983.69
209 $698,983.69 $1,771.58 $0.00 $3,952.16 $704,707.43
210 $704,707.43 $1,771.58 $0.00 $3,984.52 $710,463.53
211 $710,463.53 $1,771.58 $0.00 $4,017.06 $716,252.17
212 $716,252.17 $1,771.58 $0.00 $4,049.79 $722,073.54
213 $722,073.54 $1,771.58 $0.00 $4,082.71 $727,927.83
214 $727,927.83 $1,771.58 $0.00 $4,115.81 $733,815.22
215 $733,815.22 $1,771.58 $0.00 $4,149.10 $739,735.90
216 $739,735.90 $1,771.58 $0.00 $4,182.57 $745,690.05
217 $745,690.05 $1,771.58 $201,947.57 $4,216.24 $549,730.30
218 $549,730.30 $1,771.58 $0.00 $3,108.26 $554,610.14
219 $554,610.14 $1,771.58 $0.00 $3,135.85 $559,517.57
220 $559,517.57 $1,771.58 $0.00 $3,163.59 $564,452.74
221 $564,452.74 $1,771.58 $0.00 $3,191.50 $569,415.82
222 $569,415.82 $1,771.58 $0.00 $3,219.56 $574,406.96
223 $574,406.96 $1,771.58 $0.00 $3,247.78 $579,426.32
224 $579,426.32 $1,771.58 $0.00 $3,276.16 $584,474.06
225 $584,474.06 $1,771.58 $0.00 $3,304.70 $589,550.34
226 $589,550.34 $1,771.58 $0.00 $3,333.40 $594,655.32
227 $594,655.32 $1,771.58 $0.00 $3,362.27 $599,789.17
228 $599,789.17 $1,771.58 $0.00 $3,391.30 $604,952.05
229 $604,952.05 $1,771.58 $216,083.90 $3,420.49 $394,060.22
230 $394,060.22 $1,771.58 $0.00 $2,228.07 $398,059.87
231 $398,059.87 $1,771.58 $0.00 $2,250.69 $402,082.14
232 $402,082.14 $1,771.58 $0.00 $2,273.43 $406,127.15
233 $406,127.15 $1,771.58 $0.00 $2,296.30 $410,195.03
234 $410,195.03 $1,771.58 $0.00 $2,319.30 $414,285.91
235 $414,285.91 $1,771.58 $0.00 $2,342.43 $418,399.92
236 $418,399.92 $1,771.58 $0.00 $2,365.69 $422,537.19
237 $422,537.19 $1,771.58 $0.00 $2,389.09 $426,697.86
238 $426,697.86 $1,771.58 $0.00 $2,412.61 $430,882.05
239 $430,882.05 $1,771.58 $0.00 $2,436.27 $435,089.90
240 $435,089.90 $1,771.58 $0.00 $2,460.06 $439,321.54
241 $439,321.54 $1,771.58 $231,209.78 $2,483.99 $212,367.33
242 $212,367.33 $1,771.58 $0.00 $1,200.76 $215,339.67
243 $215,339.67 $1,771.58 $0.00 $1,217.56 $218,328.81
244 $218,328.81 $1,771.58 $0.00 $1,234.46 $221,334.85
245 $221,334.85 $1,771.58 $0.00 $1,251.46 $224,357.89
246 $224,357.89 $1,771.58 $0.00 $1,268.55 $227,398.02
247 $227,398.02 $1,771.58 $0.00 $1,285.74 $230,455.34
248 $230,455.34 $1,771.58 $0.00 $1,303.03 $233,529.95
249 $233,529.95 $1,771.58 $0.00 $1,320.41 $236,621.94
250 $236,621.94 $1,771.58 $0.00 $1,337.89 $239,731.41
251 $239,731.41 $1,771.58 $0.00 $1,355.48 $242,858.47
252 $242,858.47 $1,771.58 $0.00 $1,373.16 $246,003.21
253 $246,003.21 $0.00 $247,394.46 $1,390.94 -$0.31