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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$52,450
Monthly savings required$415

How much will it cost to send your child to Minnesota State University Mankato in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $209,800.85 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $415.18 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$20,226.00
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 $415.18 $0.00 $0.00 $415.18
2 $415.18 $415.18 $0.00 $2.35 $832.71
3 $832.71 $415.18 $0.00 $4.71 $1,252.60
4 $1,252.60 $415.18 $0.00 $7.08 $1,674.86
5 $1,674.86 $415.18 $0.00 $9.47 $2,099.51
6 $2,099.51 $415.18 $0.00 $11.87 $2,526.56
7 $2,526.56 $415.18 $0.00 $14.29 $2,956.03
8 $2,956.03 $415.18 $0.00 $16.71 $3,387.92
9 $3,387.92 $415.18 $0.00 $19.16 $3,822.26
10 $3,822.26 $415.18 $0.00 $21.61 $4,259.05
11 $4,259.05 $415.18 $0.00 $24.08 $4,698.31
12 $4,698.31 $415.18 $0.00 $26.56 $5,140.05
13 $5,140.05 $415.18 $0.00 $29.06 $5,584.29
14 $5,584.29 $415.18 $0.00 $31.57 $6,031.04
15 $6,031.04 $415.18 $0.00 $34.10 $6,480.32
16 $6,480.32 $415.18 $0.00 $36.64 $6,932.14
17 $6,932.14 $415.18 $0.00 $39.20 $7,386.52
18 $7,386.52 $415.18 $0.00 $41.76 $7,843.46
19 $7,843.46 $415.18 $0.00 $44.35 $8,302.99
20 $8,302.99 $415.18 $0.00 $46.95 $8,765.12
21 $8,765.12 $415.18 $0.00 $49.56 $9,229.86
22 $9,229.86 $415.18 $0.00 $52.19 $9,697.23
23 $9,697.23 $415.18 $0.00 $54.83 $10,167.24
24 $10,167.24 $415.18 $0.00 $57.49 $10,639.91
25 $10,639.91 $415.18 $0.00 $60.16 $11,115.25
26 $11,115.25 $415.18 $0.00 $62.85 $11,593.28
27 $11,593.28 $415.18 $0.00 $65.55 $12,074.01
28 $12,074.01 $415.18 $0.00 $68.27 $12,557.46
29 $12,557.46 $415.18 $0.00 $71.00 $13,043.64
30 $13,043.64 $415.18 $0.00 $73.75 $13,532.57
31 $13,532.57 $415.18 $0.00 $76.52 $14,024.27
32 $14,024.27 $415.18 $0.00 $79.30 $14,518.75
33 $14,518.75 $415.18 $0.00 $82.09 $15,016.02
34 $15,016.02 $415.18 $0.00 $84.90 $15,516.10
35 $15,516.10 $415.18 $0.00 $87.73 $16,019.01
36 $16,019.01 $415.18 $0.00 $90.57 $16,524.76
37 $16,524.76 $415.18 $0.00 $93.43 $17,033.37
38 $17,033.37 $415.18 $0.00 $96.31 $17,544.86
39 $17,544.86 $415.18 $0.00 $99.20 $18,059.24
40 $18,059.24 $415.18 $0.00 $102.11 $18,576.53
41 $18,576.53 $415.18 $0.00 $105.03 $19,096.74
42 $19,096.74 $415.18 $0.00 $107.98 $19,619.90
43 $19,619.90 $415.18 $0.00 $110.93 $20,146.01
44 $20,146.01 $415.18 $0.00 $113.91 $20,675.10
45 $20,675.10 $415.18 $0.00 $116.90 $21,207.18
46 $21,207.18 $415.18 $0.00 $119.91 $21,742.27
47 $21,742.27 $415.18 $0.00 $122.93 $22,280.38
48 $22,280.38 $415.18 $0.00 $125.98 $22,821.54
49 $22,821.54 $415.18 $0.00 $129.04 $23,365.76
50 $23,365.76 $415.18 $0.00 $132.11 $23,913.05
51 $23,913.05 $415.18 $0.00 $135.21 $24,463.44
52 $24,463.44 $415.18 $0.00 $138.32 $25,016.94
53 $25,016.94 $415.18 $0.00 $141.45 $25,573.57
54 $25,573.57 $415.18 $0.00 $144.60 $26,133.35
55 $26,133.35 $415.18 $0.00 $147.76 $26,696.29
56 $26,696.29 $415.18 $0.00 $150.94 $27,262.41
57 $27,262.41 $415.18 $0.00 $154.15 $27,831.74
58 $27,831.74 $415.18 $0.00 $157.36 $28,404.28
59 $28,404.28 $415.18 $0.00 $160.60 $28,980.06
60 $28,980.06 $415.18 $0.00 $163.86 $29,559.10
61 $29,559.10 $415.18 $0.00 $167.13 $30,141.41
62 $30,141.41 $415.18 $0.00 $170.42 $30,727.01
63 $30,727.01 $415.18 $0.00 $173.73 $31,315.92
64 $31,315.92 $415.18 $0.00 $177.06 $31,908.16
65 $31,908.16 $415.18 $0.00 $180.41 $32,503.75
66 $32,503.75 $415.18 $0.00 $183.78 $33,102.71
67 $33,102.71 $415.18 $0.00 $187.17 $33,705.06
68 $33,705.06 $415.18 $0.00 $190.57 $34,310.81
69 $34,310.81 $415.18 $0.00 $194.00 $34,919.99
70 $34,919.99 $415.18 $0.00 $197.44 $35,532.61
71 $35,532.61 $415.18 $0.00 $200.91 $36,148.70
72 $36,148.70 $415.18 $0.00 $204.39 $36,768.27
73 $36,768.27 $415.18 $0.00 $207.89 $37,391.34
74 $37,391.34 $415.18 $0.00 $211.42 $38,017.94
75 $38,017.94 $415.18 $0.00 $214.96 $38,648.08
76 $38,648.08 $415.18 $0.00 $218.52 $39,281.78
77 $39,281.78 $415.18 $0.00 $222.10 $39,919.06
78 $39,919.06 $415.18 $0.00 $225.71 $40,559.95
79 $40,559.95 $415.18 $0.00 $229.33 $41,204.46
80 $41,204.46 $415.18 $0.00 $232.98 $41,852.62
81 $41,852.62 $415.18 $0.00 $236.64 $42,504.44
82 $42,504.44 $415.18 $0.00 $240.33 $43,159.95
83 $43,159.95 $415.18 $0.00 $244.03 $43,819.16
84 $43,819.16 $415.18 $0.00 $247.76 $44,482.10
85 $44,482.10 $415.18 $0.00 $251.51 $45,148.79
86 $45,148.79 $415.18 $0.00 $255.28 $45,819.25
87 $45,819.25 $415.18 $0.00 $259.07 $46,493.50
88 $46,493.50 $415.18 $0.00 $262.88 $47,171.56
89 $47,171.56 $415.18 $0.00 $266.71 $47,853.45
90 $47,853.45 $415.18 $0.00 $270.57 $48,539.20
91 $48,539.20 $415.18 $0.00 $274.45 $49,228.83
92 $49,228.83 $415.18 $0.00 $278.35 $49,922.36
93 $49,922.36 $415.18 $0.00 $282.27 $50,619.81
94 $50,619.81 $415.18 $0.00 $286.21 $51,321.20
95 $51,321.20 $415.18 $0.00 $290.18 $52,026.56
96 $52,026.56 $415.18 $0.00 $294.17 $52,735.91
97 $52,735.91 $415.18 $0.00 $298.18 $53,449.27
98 $53,449.27 $415.18 $0.00 $302.21 $54,166.66
99 $54,166.66 $415.18 $0.00 $306.27 $54,888.11
100 $54,888.11 $415.18 $0.00 $310.35 $55,613.64
101 $55,613.64 $415.18 $0.00 $314.45 $56,343.27
102 $56,343.27 $415.18 $0.00 $318.57 $57,077.02
103 $57,077.02 $415.18 $0.00 $322.72 $57,814.92
104 $57,814.92 $415.18 $0.00 $326.89 $58,556.99
105 $58,556.99 $415.18 $0.00 $331.09 $59,303.26
106 $59,303.26 $415.18 $0.00 $335.31 $60,053.75
107 $60,053.75 $415.18 $0.00 $339.55 $60,808.48
108 $60,808.48 $415.18 $0.00 $343.82 $61,567.48
109 $61,567.48 $415.18 $0.00 $348.11 $62,330.77
110 $62,330.77 $415.18 $0.00 $352.43 $63,098.38
111 $63,098.38 $415.18 $0.00 $356.77 $63,870.33
112 $63,870.33 $415.18 $0.00 $361.13 $64,646.64
113 $64,646.64 $415.18 $0.00 $365.52 $65,427.34
114 $65,427.34 $415.18 $0.00 $369.94 $66,212.46
115 $66,212.46 $415.18 $0.00 $374.37 $67,002.01
116 $67,002.01 $415.18 $0.00 $378.84 $67,796.03
117 $67,796.03 $415.18 $0.00 $383.33 $68,594.54
118 $68,594.54 $415.18 $0.00 $387.84 $69,397.56
119 $69,397.56 $415.18 $0.00 $392.38 $70,205.12
120 $70,205.12 $415.18 $0.00 $396.95 $71,017.25
121 $71,017.25 $415.18 $0.00 $401.54 $71,833.97
122 $71,833.97 $415.18 $0.00 $406.16 $72,655.31
123 $72,655.31 $415.18 $0.00 $410.80 $73,481.29
124 $73,481.29 $415.18 $0.00 $415.47 $74,311.94
125 $74,311.94 $415.18 $0.00 $420.17 $75,147.29
126 $75,147.29 $415.18 $0.00 $424.89 $75,987.36
127 $75,987.36 $415.18 $0.00 $429.64 $76,832.18
128 $76,832.18 $415.18 $0.00 $434.42 $77,681.78
129 $77,681.78 $415.18 $0.00 $439.22 $78,536.18
130 $78,536.18 $415.18 $0.00 $444.05 $79,395.41
131 $79,395.41 $415.18 $0.00 $448.91 $80,259.50
132 $80,259.50 $415.18 $0.00 $453.80 $81,128.48
133 $81,128.48 $415.18 $0.00 $458.71 $82,002.37
134 $82,002.37 $415.18 $0.00 $463.65 $82,881.20
135 $82,881.20 $415.18 $0.00 $468.62 $83,765.00
136 $83,765.00 $415.18 $0.00 $473.62 $84,653.80
137 $84,653.80 $415.18 $0.00 $478.64 $85,547.62
138 $85,547.62 $415.18 $0.00 $483.70 $86,446.50
139 $86,446.50 $415.18 $0.00 $488.78 $87,350.46
140 $87,350.46 $415.18 $0.00 $493.89 $88,259.53
141 $88,259.53 $415.18 $0.00 $499.03 $89,173.74
142 $89,173.74 $415.18 $0.00 $504.20 $90,093.12
143 $90,093.12 $415.18 $0.00 $509.40 $91,017.70
144 $91,017.70 $415.18 $0.00 $514.63 $91,947.51
145 $91,947.51 $415.18 $0.00 $519.88 $92,882.57
146 $92,882.57 $415.18 $0.00 $525.17 $93,822.92
147 $93,822.92 $415.18 $0.00 $530.49 $94,768.59
148 $94,768.59 $415.18 $0.00 $535.84 $95,719.61
149 $95,719.61 $415.18 $0.00 $541.21 $96,676.00
150 $96,676.00 $415.18 $0.00 $546.62 $97,637.80
151 $97,637.80 $415.18 $0.00 $552.06 $98,605.04
152 $98,605.04 $415.18 $0.00 $557.53 $99,577.75
153 $99,577.75 $415.18 $0.00 $563.03 $100,555.96
154 $100,555.96 $415.18 $0.00 $568.56 $101,539.70
155 $101,539.70 $415.18 $0.00 $574.12 $102,529.00
156 $102,529.00 $415.18 $0.00 $579.71 $103,523.89
157 $103,523.89 $415.18 $0.00 $585.34 $104,524.41
158 $104,524.41 $415.18 $0.00 $591.00 $105,530.59
159 $105,530.59 $415.18 $0.00 $596.69 $106,542.46
160 $106,542.46 $415.18 $0.00 $602.41 $107,560.05
161 $107,560.05 $415.18 $0.00 $608.16 $108,583.39
162 $108,583.39 $415.18 $0.00 $613.95 $109,612.52
163 $109,612.52 $415.18 $0.00 $619.77 $110,647.47
164 $110,647.47 $415.18 $0.00 $625.62 $111,688.27
165 $111,688.27 $415.18 $0.00 $631.50 $112,734.95
166 $112,734.95 $415.18 $0.00 $637.42 $113,787.55
167 $113,787.55 $415.18 $0.00 $643.37 $114,846.10
168 $114,846.10 $415.18 $0.00 $649.36 $115,910.64
169 $115,910.64 $415.18 $0.00 $655.38 $116,981.20
170 $116,981.20 $415.18 $0.00 $661.43 $118,057.81
171 $118,057.81 $415.18 $0.00 $667.52 $119,140.51
172 $119,140.51 $415.18 $0.00 $673.64 $120,229.33
173 $120,229.33 $415.18 $0.00 $679.79 $121,324.30
174 $121,324.30 $415.18 $0.00 $685.99 $122,425.47
175 $122,425.47 $415.18 $0.00 $692.21 $123,532.86
176 $123,532.86 $415.18 $0.00 $698.47 $124,646.51
177 $124,646.51 $415.18 $0.00 $704.77 $125,766.46
178 $125,766.46 $415.18 $0.00 $711.10 $126,892.74
179 $126,892.74 $415.18 $0.00 $717.47 $128,025.39
180 $128,025.39 $415.18 $0.00 $723.87 $129,164.44
181 $129,164.44 $415.18 $0.00 $730.31 $130,309.93
182 $130,309.93 $415.18 $0.00 $736.79 $131,461.90
183 $131,461.90 $415.18 $0.00 $743.30 $132,620.38
184 $132,620.38 $415.18 $0.00 $749.85 $133,785.41
185 $133,785.41 $415.18 $0.00 $756.44 $134,957.03
186 $134,957.03 $415.18 $0.00 $763.07 $136,135.28
187 $136,135.28 $415.18 $0.00 $769.73 $137,320.19
188 $137,320.19 $415.18 $0.00 $776.43 $138,511.80
189 $138,511.80 $415.18 $0.00 $783.17 $139,710.15
190 $139,710.15 $415.18 $0.00 $789.94 $140,915.27
191 $140,915.27 $415.18 $0.00 $796.76 $142,127.21
192 $142,127.21 $415.18 $0.00 $803.61 $143,346.00
193 $143,346.00 $415.18 $0.00 $810.50 $144,571.68
194 $144,571.68 $415.18 $0.00 $817.43 $145,804.29
195 $145,804.29 $415.18 $0.00 $824.40 $147,043.87
196 $147,043.87 $415.18 $0.00 $831.41 $148,290.46
197 $148,290.46 $415.18 $0.00 $838.46 $149,544.10
198 $149,544.10 $415.18 $0.00 $845.54 $150,804.82
199 $150,804.82 $415.18 $0.00 $852.67 $152,072.67
200 $152,072.67 $415.18 $0.00 $859.84 $153,347.69
201 $153,347.69 $415.18 $0.00 $867.05 $154,629.92
202 $154,629.92 $415.18 $0.00 $874.30 $155,919.40
203 $155,919.40 $415.18 $0.00 $881.59 $157,216.17
204 $157,216.17 $415.18 $0.00 $888.92 $158,520.27
205 $158,520.27 $415.18 $0.00 $896.30 $159,831.75
206 $159,831.75 $415.18 $0.00 $903.71 $161,150.64
207 $161,150.64 $415.18 $0.00 $911.17 $162,476.99
208 $162,476.99 $415.18 $0.00 $918.67 $163,810.84
209 $163,810.84 $415.18 $0.00 $926.21 $165,152.23
210 $165,152.23 $415.18 $0.00 $933.79 $166,501.20
211 $166,501.20 $415.18 $0.00 $941.42 $167,857.80
212 $167,857.80 $415.18 $0.00 $949.09 $169,222.07
213 $169,222.07 $415.18 $0.00 $956.81 $170,594.06
214 $170,594.06 $415.18 $0.00 $964.56 $171,973.80
215 $171,973.80 $415.18 $0.00 $972.36 $173,361.34
216 $173,361.34 $415.18 $0.00 $980.21 $174,756.73
217 $174,756.73 $415.18 $48,676.28 $988.10 $127,483.73
218 $127,483.73 $415.18 $0.00 $720.81 $128,619.72
219 $128,619.72 $415.18 $0.00 $727.23 $129,762.13
220 $129,762.13 $415.18 $0.00 $733.69 $130,911.00
221 $130,911.00 $415.18 $0.00 $740.19 $132,066.37
222 $132,066.37 $415.18 $0.00 $746.72 $133,228.27
223 $133,228.27 $415.18 $0.00 $753.29 $134,396.74
224 $134,396.74 $415.18 $0.00 $759.90 $135,571.82
225 $135,571.82 $415.18 $0.00 $766.54 $136,753.54
226 $136,753.54 $415.18 $0.00 $773.22 $137,941.94
227 $137,941.94 $415.18 $0.00 $779.94 $139,137.06
228 $139,137.06 $415.18 $0.00 $786.70 $140,338.94
229 $140,338.94 $415.18 $51,110.09 $793.50 $90,437.53
230 $90,437.53 $415.18 $0.00 $511.35 $91,364.06
231 $91,364.06 $415.18 $0.00 $516.59 $92,295.83
232 $92,295.83 $415.18 $0.00 $521.85 $93,232.86
233 $93,232.86 $415.18 $0.00 $527.15 $94,175.19
234 $94,175.19 $415.18 $0.00 $532.48 $95,122.85
235 $95,122.85 $415.18 $0.00 $537.84 $96,075.87
236 $96,075.87 $415.18 $0.00 $543.23 $97,034.28
237 $97,034.28 $415.18 $0.00 $548.65 $97,998.11
238 $97,998.11 $415.18 $0.00 $554.10 $98,967.39
239 $98,967.39 $415.18 $0.00 $559.58 $99,942.15
240 $99,942.15 $415.18 $0.00 $565.09 $100,922.42
241 $100,922.42 $415.18 $53,665.60 $570.63 $48,242.63
242 $48,242.63 $415.18 $0.00 $272.77 $48,930.58
243 $48,930.58 $415.18 $0.00 $276.66 $49,622.42
244 $49,622.42 $415.18 $0.00 $280.57 $50,318.17
245 $50,318.17 $415.18 $0.00 $284.51 $51,017.86
246 $51,017.86 $415.18 $0.00 $288.46 $51,721.50
247 $51,721.50 $415.18 $0.00 $292.44 $52,429.12
248 $52,429.12 $415.18 $0.00 $296.44 $53,140.74
249 $53,140.74 $415.18 $0.00 $300.47 $53,856.39
250 $53,856.39 $415.18 $0.00 $304.51 $54,576.08
251 $54,576.08 $415.18 $0.00 $308.58 $55,299.84
252 $55,299.84 $415.18 $0.00 $312.67 $56,027.69
253 $56,027.69 $0.00 $56,348.88 $316.79 ($4.40)