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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$71,114
Monthly savings required$563

How much will it cost to send your child to Minnesota School of Business Rochester in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $284,454.11 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $562.92 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$27,423.00
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 $562.92 $0.00 $0.00 $562.92
2 $562.92 $562.92 $0.00 $3.18 $1,129.02
3 $1,129.02 $562.92 $0.00 $6.38 $1,698.32
4 $1,698.32 $562.92 $0.00 $9.60 $2,270.84
5 $2,270.84 $562.92 $0.00 $12.84 $2,846.60
6 $2,846.60 $562.92 $0.00 $16.10 $3,425.62
7 $3,425.62 $562.92 $0.00 $19.37 $4,007.91
8 $4,007.91 $562.92 $0.00 $22.66 $4,593.49
9 $4,593.49 $562.92 $0.00 $25.97 $5,182.38
10 $5,182.38 $562.92 $0.00 $29.30 $5,774.60
11 $5,774.60 $562.92 $0.00 $32.65 $6,370.17
12 $6,370.17 $562.92 $0.00 $36.02 $6,969.11
13 $6,969.11 $562.92 $0.00 $39.40 $7,571.43
14 $7,571.43 $562.92 $0.00 $42.81 $8,177.16
15 $8,177.16 $562.92 $0.00 $46.23 $8,786.31
16 $8,786.31 $562.92 $0.00 $49.68 $9,398.91
17 $9,398.91 $562.92 $0.00 $53.14 $10,014.97
18 $10,014.97 $562.92 $0.00 $56.63 $10,634.52
19 $10,634.52 $562.92 $0.00 $60.13 $11,257.57
20 $11,257.57 $562.92 $0.00 $63.65 $11,884.14
21 $11,884.14 $562.92 $0.00 $67.19 $12,514.25
22 $12,514.25 $562.92 $0.00 $70.76 $13,147.93
23 $13,147.93 $562.92 $0.00 $74.34 $13,785.19
24 $13,785.19 $562.92 $0.00 $77.94 $14,426.05
25 $14,426.05 $562.92 $0.00 $81.57 $15,070.54
26 $15,070.54 $562.92 $0.00 $85.21 $15,718.67
27 $15,718.67 $562.92 $0.00 $88.88 $16,370.47
28 $16,370.47 $562.92 $0.00 $92.56 $17,025.95
29 $17,025.95 $562.92 $0.00 $96.27 $17,685.14
30 $17,685.14 $562.92 $0.00 $99.99 $18,348.05
31 $18,348.05 $562.92 $0.00 $103.74 $19,014.71
32 $19,014.71 $562.92 $0.00 $107.51 $19,685.14
33 $19,685.14 $562.92 $0.00 $111.30 $20,359.36
34 $20,359.36 $562.92 $0.00 $115.11 $21,037.39
35 $21,037.39 $562.92 $0.00 $118.95 $21,719.26
36 $21,719.26 $562.92 $0.00 $122.80 $22,404.98
37 $22,404.98 $562.92 $0.00 $126.68 $23,094.58
38 $23,094.58 $562.92 $0.00 $130.58 $23,788.08
39 $23,788.08 $562.92 $0.00 $134.50 $24,485.50
40 $24,485.50 $562.92 $0.00 $138.44 $25,186.86
41 $25,186.86 $562.92 $0.00 $142.41 $25,892.19
42 $25,892.19 $562.92 $0.00 $146.40 $26,601.51
43 $26,601.51 $562.92 $0.00 $150.41 $27,314.84
44 $27,314.84 $562.92 $0.00 $154.44 $28,032.20
45 $28,032.20 $562.92 $0.00 $158.50 $28,753.62
46 $28,753.62 $562.92 $0.00 $162.58 $29,479.12
47 $29,479.12 $562.92 $0.00 $166.68 $30,208.72
48 $30,208.72 $562.92 $0.00 $170.80 $30,942.44
49 $30,942.44 $562.92 $0.00 $174.95 $31,680.31
50 $31,680.31 $562.92 $0.00 $179.13 $32,422.36
51 $32,422.36 $562.92 $0.00 $183.32 $33,168.60
52 $33,168.60 $562.92 $0.00 $187.54 $33,919.06
53 $33,919.06 $562.92 $0.00 $191.78 $34,673.76
54 $34,673.76 $562.92 $0.00 $196.05 $35,432.73
55 $35,432.73 $562.92 $0.00 $200.34 $36,195.99
56 $36,195.99 $562.92 $0.00 $204.66 $36,963.57
57 $36,963.57 $562.92 $0.00 $209.00 $37,735.49
58 $37,735.49 $562.92 $0.00 $213.36 $38,511.77
59 $38,511.77 $562.92 $0.00 $217.75 $39,292.44
60 $39,292.44 $562.92 $0.00 $222.17 $40,077.53
61 $40,077.53 $562.92 $0.00 $226.60 $40,867.05
62 $40,867.05 $562.92 $0.00 $231.07 $41,661.04
63 $41,661.04 $562.92 $0.00 $235.56 $42,459.52
64 $42,459.52 $562.92 $0.00 $240.07 $43,262.51
65 $43,262.51 $562.92 $0.00 $244.61 $44,070.04
66 $44,070.04 $562.92 $0.00 $249.18 $44,882.14
67 $44,882.14 $562.92 $0.00 $253.77 $45,698.83
68 $45,698.83 $562.92 $0.00 $258.39 $46,520.14
69 $46,520.14 $562.92 $0.00 $263.03 $47,346.09
70 $47,346.09 $562.92 $0.00 $267.70 $48,176.71
71 $48,176.71 $562.92 $0.00 $272.40 $49,012.03
72 $49,012.03 $562.92 $0.00 $277.12 $49,852.07
73 $49,852.07 $562.92 $0.00 $281.87 $50,696.86
74 $50,696.86 $562.92 $0.00 $286.65 $51,546.43
75 $51,546.43 $562.92 $0.00 $291.45 $52,400.80
76 $52,400.80 $562.92 $0.00 $296.28 $53,260.00
77 $53,260.00 $562.92 $0.00 $301.14 $54,124.06
78 $54,124.06 $562.92 $0.00 $306.03 $54,993.01
79 $54,993.01 $562.92 $0.00 $310.94 $55,866.87
80 $55,866.87 $562.92 $0.00 $315.88 $56,745.67
81 $56,745.67 $562.92 $0.00 $320.85 $57,629.44
82 $57,629.44 $562.92 $0.00 $325.85 $58,518.21
83 $58,518.21 $562.92 $0.00 $330.87 $59,412.00
84 $59,412.00 $562.92 $0.00 $335.92 $60,310.84
85 $60,310.84 $562.92 $0.00 $341.01 $61,214.77
86 $61,214.77 $562.92 $0.00 $346.12 $62,123.81
87 $62,123.81 $562.92 $0.00 $351.26 $63,037.99
88 $63,037.99 $562.92 $0.00 $356.43 $63,957.34
89 $63,957.34 $562.92 $0.00 $361.62 $64,881.88
90 $64,881.88 $562.92 $0.00 $366.85 $65,811.65
91 $65,811.65 $562.92 $0.00 $372.11 $66,746.68
92 $66,746.68 $562.92 $0.00 $377.40 $67,687.00
93 $67,687.00 $562.92 $0.00 $382.71 $68,632.63
94 $68,632.63 $562.92 $0.00 $388.06 $69,583.61
95 $69,583.61 $562.92 $0.00 $393.44 $70,539.97
96 $70,539.97 $562.92 $0.00 $398.84 $71,501.73
97 $71,501.73 $562.92 $0.00 $404.28 $72,468.93
98 $72,468.93 $562.92 $0.00 $409.75 $73,441.60
99 $73,441.60 $562.92 $0.00 $415.25 $74,419.77
100 $74,419.77 $562.92 $0.00 $420.78 $75,403.47
101 $75,403.47 $562.92 $0.00 $426.34 $76,392.73
102 $76,392.73 $562.92 $0.00 $431.94 $77,387.59
103 $77,387.59 $562.92 $0.00 $437.56 $78,388.07
104 $78,388.07 $562.92 $0.00 $443.22 $79,394.21
105 $79,394.21 $562.92 $0.00 $448.91 $80,406.04
106 $80,406.04 $562.92 $0.00 $454.63 $81,423.59
107 $81,423.59 $562.92 $0.00 $460.38 $82,446.89
108 $82,446.89 $562.92 $0.00 $466.17 $83,475.98
109 $83,475.98 $562.92 $0.00 $471.99 $84,510.89
110 $84,510.89 $562.92 $0.00 $477.84 $85,551.65
111 $85,551.65 $562.92 $0.00 $483.72 $86,598.29
112 $86,598.29 $562.92 $0.00 $489.64 $87,650.85
113 $87,650.85 $562.92 $0.00 $495.59 $88,709.36
114 $88,709.36 $562.92 $0.00 $501.58 $89,773.86
115 $89,773.86 $562.92 $0.00 $507.59 $90,844.37
116 $90,844.37 $562.92 $0.00 $513.65 $91,920.94
117 $91,920.94 $562.92 $0.00 $519.73 $93,003.59
118 $93,003.59 $562.92 $0.00 $525.86 $94,092.37
119 $94,092.37 $562.92 $0.00 $532.01 $95,187.30
120 $95,187.30 $562.92 $0.00 $538.20 $96,288.42
121 $96,288.42 $562.92 $0.00 $544.43 $97,395.77
122 $97,395.77 $562.92 $0.00 $550.69 $98,509.38
123 $98,509.38 $562.92 $0.00 $556.99 $99,629.29
124 $99,629.29 $562.92 $0.00 $563.32 $100,755.53
125 $100,755.53 $562.92 $0.00 $569.69 $101,888.14
126 $101,888.14 $562.92 $0.00 $576.09 $103,027.15
127 $103,027.15 $562.92 $0.00 $582.53 $104,172.60
128 $104,172.60 $562.92 $0.00 $589.01 $105,324.53
129 $105,324.53 $562.92 $0.00 $595.52 $106,482.97
130 $106,482.97 $562.92 $0.00 $602.07 $107,647.96
131 $107,647.96 $562.92 $0.00 $608.66 $108,819.54
132 $108,819.54 $562.92 $0.00 $615.28 $109,997.74
133 $109,997.74 $562.92 $0.00 $621.94 $111,182.60
134 $111,182.60 $562.92 $0.00 $628.64 $112,374.16
135 $112,374.16 $562.92 $0.00 $635.38 $113,572.46
136 $113,572.46 $562.92 $0.00 $642.16 $114,777.54
137 $114,777.54 $562.92 $0.00 $648.97 $115,989.43
138 $115,989.43 $562.92 $0.00 $655.82 $117,208.17
139 $117,208.17 $562.92 $0.00 $662.71 $118,433.80
140 $118,433.80 $562.92 $0.00 $669.64 $119,666.36
141 $119,666.36 $562.92 $0.00 $676.61 $120,905.89
142 $120,905.89 $562.92 $0.00 $683.62 $122,152.43
143 $122,152.43 $562.92 $0.00 $690.67 $123,406.02
144 $123,406.02 $562.92 $0.00 $697.76 $124,666.70
145 $124,666.70 $562.92 $0.00 $704.88 $125,934.50
146 $125,934.50 $562.92 $0.00 $712.05 $127,209.47
147 $127,209.47 $562.92 $0.00 $719.26 $128,491.65
148 $128,491.65 $562.92 $0.00 $726.51 $129,781.08
149 $129,781.08 $562.92 $0.00 $733.80 $131,077.80
150 $131,077.80 $562.92 $0.00 $741.13 $132,381.85
151 $132,381.85 $562.92 $0.00 $748.51 $133,693.28
152 $133,693.28 $562.92 $0.00 $755.92 $135,012.12
153 $135,012.12 $562.92 $0.00 $763.38 $136,338.42
154 $136,338.42 $562.92 $0.00 $770.88 $137,672.22
155 $137,672.22 $562.92 $0.00 $778.42 $139,013.56
156 $139,013.56 $562.92 $0.00 $786.00 $140,362.48
157 $140,362.48 $562.92 $0.00 $793.63 $141,719.03
158 $141,719.03 $562.92 $0.00 $801.30 $143,083.25
159 $143,083.25 $562.92 $0.00 $809.01 $144,455.18
160 $144,455.18 $562.92 $0.00 $816.77 $145,834.87
161 $145,834.87 $562.92 $0.00 $824.57 $147,222.36
162 $147,222.36 $562.92 $0.00 $832.42 $148,617.70
163 $148,617.70 $562.92 $0.00 $840.31 $150,020.93
164 $150,020.93 $562.92 $0.00 $848.24 $151,432.09
165 $151,432.09 $562.92 $0.00 $856.22 $152,851.23
166 $152,851.23 $562.92 $0.00 $864.24 $154,278.39
167 $154,278.39 $562.92 $0.00 $872.31 $155,713.62
168 $155,713.62 $562.92 $0.00 $880.43 $157,156.97
169 $157,156.97 $562.92 $0.00 $888.59 $158,608.48
170 $158,608.48 $562.92 $0.00 $896.80 $160,068.20
171 $160,068.20 $562.92 $0.00 $905.05 $161,536.17
172 $161,536.17 $562.92 $0.00 $913.35 $163,012.44
173 $163,012.44 $562.92 $0.00 $921.70 $164,497.06
174 $164,497.06 $562.92 $0.00 $930.09 $165,990.07
175 $165,990.07 $562.92 $0.00 $938.53 $167,491.52
176 $167,491.52 $562.92 $0.00 $947.02 $169,001.46
177 $169,001.46 $562.92 $0.00 $955.56 $170,519.94
178 $170,519.94 $562.92 $0.00 $964.14 $172,047.00
179 $172,047.00 $562.92 $0.00 $972.78 $173,582.70
180 $173,582.70 $562.92 $0.00 $981.46 $175,127.08
181 $175,127.08 $562.92 $0.00 $990.19 $176,680.19
182 $176,680.19 $562.92 $0.00 $998.98 $178,242.09
183 $178,242.09 $562.92 $0.00 $1,007.81 $179,812.82
184 $179,812.82 $562.92 $0.00 $1,016.69 $181,392.43
185 $181,392.43 $562.92 $0.00 $1,025.62 $182,980.97
186 $182,980.97 $562.92 $0.00 $1,034.60 $184,578.49
187 $184,578.49 $562.92 $0.00 $1,043.63 $186,185.04
188 $186,185.04 $562.92 $0.00 $1,052.72 $187,800.68
189 $187,800.68 $562.92 $0.00 $1,061.85 $189,425.45
190 $189,425.45 $562.92 $0.00 $1,071.04 $191,059.41
191 $191,059.41 $562.92 $0.00 $1,080.28 $192,702.61
192 $192,702.61 $562.92 $0.00 $1,089.57 $194,355.10
193 $194,355.10 $562.92 $0.00 $1,098.91 $196,016.93
194 $196,016.93 $562.92 $0.00 $1,108.31 $197,688.16
195 $197,688.16 $562.92 $0.00 $1,117.76 $199,368.84
196 $199,368.84 $562.92 $0.00 $1,127.26 $201,059.02
197 $201,059.02 $562.92 $0.00 $1,136.82 $202,758.76
198 $202,758.76 $562.92 $0.00 $1,146.43 $204,468.11
199 $204,468.11 $562.92 $0.00 $1,156.09 $206,187.12
200 $206,187.12 $562.92 $0.00 $1,165.81 $207,915.85
201 $207,915.85 $562.92 $0.00 $1,175.59 $209,654.36
202 $209,654.36 $562.92 $0.00 $1,185.42 $211,402.70
203 $211,402.70 $562.92 $0.00 $1,195.30 $213,160.92
204 $213,160.92 $562.92 $0.00 $1,205.24 $214,929.08
205 $214,929.08 $562.92 $0.00 $1,215.24 $216,707.24
206 $216,707.24 $562.92 $0.00 $1,225.29 $218,495.45
207 $218,495.45 $562.92 $0.00 $1,235.41 $220,293.78
208 $220,293.78 $562.92 $0.00 $1,245.57 $222,102.27
209 $222,102.27 $562.92 $0.00 $1,255.80 $223,920.99
210 $223,920.99 $562.92 $0.00 $1,266.08 $225,749.99
211 $225,749.99 $562.92 $0.00 $1,276.42 $227,589.33
212 $227,589.33 $562.92 $0.00 $1,286.82 $229,439.07
213 $229,439.07 $562.92 $0.00 $1,297.28 $231,299.27
214 $231,299.27 $562.92 $0.00 $1,307.80 $233,169.99
215 $233,169.99 $562.92 $0.00 $1,318.38 $235,051.29
216 $235,051.29 $562.92 $0.00 $1,329.01 $236,943.22
217 $236,943.22 $562.92 $65,996.72 $1,339.71 $172,849.13
218 $172,849.13 $562.92 $0.00 $977.31 $174,389.36
219 $174,389.36 $562.92 $0.00 $986.02 $175,938.30
220 $175,938.30 $562.92 $0.00 $994.78 $177,496.00
221 $177,496.00 $562.92 $0.00 $1,003.59 $179,062.51
222 $179,062.51 $562.92 $0.00 $1,012.45 $180,637.88
223 $180,637.88 $562.92 $0.00 $1,021.35 $182,222.15
224 $182,222.15 $562.92 $0.00 $1,030.31 $183,815.38
225 $183,815.38 $562.92 $0.00 $1,039.32 $185,417.62
226 $185,417.62 $562.92 $0.00 $1,048.38 $187,028.92
227 $187,028.92 $562.92 $0.00 $1,057.49 $188,649.33
228 $188,649.33 $562.92 $0.00 $1,066.65 $190,278.90
229 $190,278.90 $562.92 $69,296.56 $1,075.86 $122,621.12
230 $122,621.12 $562.92 $0.00 $693.32 $123,877.36
231 $123,877.36 $562.92 $0.00 $700.42 $125,140.70
232 $125,140.70 $562.92 $0.00 $707.56 $126,411.18
233 $126,411.18 $562.92 $0.00 $714.75 $127,688.85
234 $127,688.85 $562.92 $0.00 $721.97 $128,973.74
235 $128,973.74 $562.92 $0.00 $729.24 $130,265.90
236 $130,265.90 $562.92 $0.00 $736.54 $131,565.36
237 $131,565.36 $562.92 $0.00 $743.89 $132,872.17
238 $132,872.17 $562.92 $0.00 $751.28 $134,186.37
239 $134,186.37 $562.92 $0.00 $758.71 $135,508.00
240 $135,508.00 $562.92 $0.00 $766.18 $136,837.10
241 $136,837.10 $562.92 $72,761.38 $773.70 $65,412.34
242 $65,412.34 $562.92 $0.00 $369.85 $66,345.11
243 $66,345.11 $562.92 $0.00 $375.12 $67,283.15
244 $67,283.15 $562.92 $0.00 $380.43 $68,226.50
245 $68,226.50 $562.92 $0.00 $385.76 $69,175.18
246 $69,175.18 $562.92 $0.00 $391.13 $70,129.23
247 $70,129.23 $562.92 $0.00 $396.52 $71,088.67
248 $71,088.67 $562.92 $0.00 $401.95 $72,053.54
249 $72,053.54 $562.92 $0.00 $407.40 $73,023.86
250 $73,023.86 $562.92 $0.00 $412.89 $73,999.67
251 $73,999.67 $562.92 $0.00 $418.40 $74,980.99
252 $74,980.99 $562.92 $0.00 $423.95 $75,967.86
253 $75,967.86 $0.00 $76,399.45 $429.53 ($2.06)