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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$54,416
Monthly savings required$431

How much will it cost to send your child to Southwest Minnesota State University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $217,663.46 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $430.74 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$20,984.00
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 $430.74 $0.00 $0.00 $430.74
2 $430.74 $430.74 $0.00 $2.44 $863.92
3 $863.92 $430.74 $0.00 $4.88 $1,299.54
4 $1,299.54 $430.74 $0.00 $7.35 $1,737.63
5 $1,737.63 $430.74 $0.00 $9.82 $2,178.19
6 $2,178.19 $430.74 $0.00 $12.32 $2,621.25
7 $2,621.25 $430.74 $0.00 $14.82 $3,066.81
8 $3,066.81 $430.74 $0.00 $17.34 $3,514.89
9 $3,514.89 $430.74 $0.00 $19.87 $3,965.50
10 $3,965.50 $430.74 $0.00 $22.42 $4,418.66
11 $4,418.66 $430.74 $0.00 $24.98 $4,874.38
12 $4,874.38 $430.74 $0.00 $27.56 $5,332.68
13 $5,332.68 $430.74 $0.00 $30.15 $5,793.57
14 $5,793.57 $430.74 $0.00 $32.76 $6,257.07
15 $6,257.07 $430.74 $0.00 $35.38 $6,723.19
16 $6,723.19 $430.74 $0.00 $38.01 $7,191.94
17 $7,191.94 $430.74 $0.00 $40.66 $7,663.34
18 $7,663.34 $430.74 $0.00 $43.33 $8,137.41
19 $8,137.41 $430.74 $0.00 $46.01 $8,614.16
20 $8,614.16 $430.74 $0.00 $48.71 $9,093.61
21 $9,093.61 $430.74 $0.00 $51.42 $9,575.77
22 $9,575.77 $430.74 $0.00 $54.14 $10,060.65
23 $10,060.65 $430.74 $0.00 $56.88 $10,548.27
24 $10,548.27 $430.74 $0.00 $59.64 $11,038.65
25 $11,038.65 $430.74 $0.00 $62.41 $11,531.80
26 $11,531.80 $430.74 $0.00 $65.20 $12,027.74
27 $12,027.74 $430.74 $0.00 $68.01 $12,526.49
28 $12,526.49 $430.74 $0.00 $70.83 $13,028.06
29 $13,028.06 $430.74 $0.00 $73.66 $13,532.46
30 $13,532.46 $430.74 $0.00 $76.51 $14,039.71
31 $14,039.71 $430.74 $0.00 $79.38 $14,549.83
32 $14,549.83 $430.74 $0.00 $82.27 $15,062.84
33 $15,062.84 $430.74 $0.00 $85.17 $15,578.75
34 $15,578.75 $430.74 $0.00 $88.08 $16,097.57
35 $16,097.57 $430.74 $0.00 $91.02 $16,619.33
36 $16,619.33 $430.74 $0.00 $93.97 $17,144.04
37 $17,144.04 $430.74 $0.00 $96.93 $17,671.71
38 $17,671.71 $430.74 $0.00 $99.92 $18,202.37
39 $18,202.37 $430.74 $0.00 $102.92 $18,736.03
40 $18,736.03 $430.74 $0.00 $105.94 $19,272.71
41 $19,272.71 $430.74 $0.00 $108.97 $19,812.42
42 $19,812.42 $430.74 $0.00 $112.02 $20,355.18
43 $20,355.18 $430.74 $0.00 $115.09 $20,901.01
44 $20,901.01 $430.74 $0.00 $118.18 $21,449.93
45 $21,449.93 $430.74 $0.00 $121.28 $22,001.95
46 $22,001.95 $430.74 $0.00 $124.40 $22,557.09
47 $22,557.09 $430.74 $0.00 $127.54 $23,115.37
48 $23,115.37 $430.74 $0.00 $130.70 $23,676.81
49 $23,676.81 $430.74 $0.00 $133.87 $24,241.42
50 $24,241.42 $430.74 $0.00 $137.06 $24,809.22
51 $24,809.22 $430.74 $0.00 $140.27 $25,380.23
52 $25,380.23 $430.74 $0.00 $143.50 $25,954.47
53 $25,954.47 $430.74 $0.00 $146.75 $26,531.96
54 $26,531.96 $430.74 $0.00 $150.02 $27,112.72
55 $27,112.72 $430.74 $0.00 $153.30 $27,696.76
56 $27,696.76 $430.74 $0.00 $156.60 $28,284.10
57 $28,284.10 $430.74 $0.00 $159.92 $28,874.76
58 $28,874.76 $430.74 $0.00 $163.26 $29,468.76
59 $29,468.76 $430.74 $0.00 $166.62 $30,066.12
60 $30,066.12 $430.74 $0.00 $170.00 $30,666.86
61 $30,666.86 $430.74 $0.00 $173.39 $31,270.99
62 $31,270.99 $430.74 $0.00 $176.81 $31,878.54
63 $31,878.54 $430.74 $0.00 $180.25 $32,489.53
64 $32,489.53 $430.74 $0.00 $183.70 $33,103.97
65 $33,103.97 $430.74 $0.00 $187.17 $33,721.88
66 $33,721.88 $430.74 $0.00 $190.67 $34,343.29
67 $34,343.29 $430.74 $0.00 $194.18 $34,968.21
68 $34,968.21 $430.74 $0.00 $197.72 $35,596.67
69 $35,596.67 $430.74 $0.00 $201.27 $36,228.68
70 $36,228.68 $430.74 $0.00 $204.84 $36,864.26
71 $36,864.26 $430.74 $0.00 $208.44 $37,503.44
72 $37,503.44 $430.74 $0.00 $212.05 $38,146.23
73 $38,146.23 $430.74 $0.00 $215.68 $38,792.65
74 $38,792.65 $430.74 $0.00 $219.34 $39,442.73
75 $39,442.73 $430.74 $0.00 $223.01 $40,096.48
76 $40,096.48 $430.74 $0.00 $226.71 $40,753.93
77 $40,753.93 $430.74 $0.00 $230.43 $41,415.10
78 $41,415.10 $430.74 $0.00 $234.17 $42,080.01
79 $42,080.01 $430.74 $0.00 $237.93 $42,748.68
80 $42,748.68 $430.74 $0.00 $241.71 $43,421.13
81 $43,421.13 $430.74 $0.00 $245.51 $44,097.38
82 $44,097.38 $430.74 $0.00 $249.33 $44,777.45
83 $44,777.45 $430.74 $0.00 $253.18 $45,461.37
84 $45,461.37 $430.74 $0.00 $257.05 $46,149.16
85 $46,149.16 $430.74 $0.00 $260.93 $46,840.83
86 $46,840.83 $430.74 $0.00 $264.84 $47,536.41
87 $47,536.41 $430.74 $0.00 $268.78 $48,235.93
88 $48,235.93 $430.74 $0.00 $272.73 $48,939.40
89 $48,939.40 $430.74 $0.00 $276.71 $49,646.85
90 $49,646.85 $430.74 $0.00 $280.71 $50,358.30
91 $50,358.30 $430.74 $0.00 $284.73 $51,073.77
92 $51,073.77 $430.74 $0.00 $288.78 $51,793.29
93 $51,793.29 $430.74 $0.00 $292.85 $52,516.88
94 $52,516.88 $430.74 $0.00 $296.94 $53,244.56
95 $53,244.56 $430.74 $0.00 $301.05 $53,976.35
96 $53,976.35 $430.74 $0.00 $305.19 $54,712.28
97 $54,712.28 $430.74 $0.00 $309.35 $55,452.37
98 $55,452.37 $430.74 $0.00 $313.54 $56,196.65
99 $56,196.65 $430.74 $0.00 $317.74 $56,945.13
100 $56,945.13 $430.74 $0.00 $321.98 $57,697.85
101 $57,697.85 $430.74 $0.00 $326.23 $58,454.82
102 $58,454.82 $430.74 $0.00 $330.51 $59,216.07
103 $59,216.07 $430.74 $0.00 $334.82 $59,981.63
104 $59,981.63 $430.74 $0.00 $339.14 $60,751.51
105 $60,751.51 $430.74 $0.00 $343.50 $61,525.75
106 $61,525.75 $430.74 $0.00 $347.88 $62,304.37
107 $62,304.37 $430.74 $0.00 $352.28 $63,087.39
108 $63,087.39 $430.74 $0.00 $356.71 $63,874.84
109 $63,874.84 $430.74 $0.00 $361.16 $64,666.74
110 $64,666.74 $430.74 $0.00 $365.64 $65,463.12
111 $65,463.12 $430.74 $0.00 $370.14 $66,264.00
112 $66,264.00 $430.74 $0.00 $374.67 $67,069.41
113 $67,069.41 $430.74 $0.00 $379.22 $67,879.37
114 $67,879.37 $430.74 $0.00 $383.80 $68,693.91
115 $68,693.91 $430.74 $0.00 $388.41 $69,513.06
116 $69,513.06 $430.74 $0.00 $393.04 $70,336.84
117 $70,336.84 $430.74 $0.00 $397.69 $71,165.27
118 $71,165.27 $430.74 $0.00 $402.38 $71,998.39
119 $71,998.39 $430.74 $0.00 $407.09 $72,836.22
120 $72,836.22 $430.74 $0.00 $411.83 $73,678.79
121 $73,678.79 $430.74 $0.00 $416.59 $74,526.12
122 $74,526.12 $430.74 $0.00 $421.38 $75,378.24
123 $75,378.24 $430.74 $0.00 $426.20 $76,235.18
124 $76,235.18 $430.74 $0.00 $431.04 $77,096.96
125 $77,096.96 $430.74 $0.00 $435.92 $77,963.62
126 $77,963.62 $430.74 $0.00 $440.82 $78,835.18
127 $78,835.18 $430.74 $0.00 $445.75 $79,711.67
128 $79,711.67 $430.74 $0.00 $450.70 $80,593.11
129 $80,593.11 $430.74 $0.00 $455.69 $81,479.54
130 $81,479.54 $430.74 $0.00 $460.70 $82,370.98
131 $82,370.98 $430.74 $0.00 $465.74 $83,267.46
132 $83,267.46 $430.74 $0.00 $470.81 $84,169.01
133 $84,169.01 $430.74 $0.00 $475.90 $85,075.65
134 $85,075.65 $430.74 $0.00 $481.03 $85,987.42
135 $85,987.42 $430.74 $0.00 $486.19 $86,904.35
136 $86,904.35 $430.74 $0.00 $491.37 $87,826.46
137 $87,826.46 $430.74 $0.00 $496.58 $88,753.78
138 $88,753.78 $430.74 $0.00 $501.83 $89,686.35
139 $89,686.35 $430.74 $0.00 $507.10 $90,624.19
140 $90,624.19 $430.74 $0.00 $512.40 $91,567.33
141 $91,567.33 $430.74 $0.00 $517.73 $92,515.80
142 $92,515.80 $430.74 $0.00 $523.10 $93,469.64
143 $93,469.64 $430.74 $0.00 $528.49 $94,428.87
144 $94,428.87 $430.74 $0.00 $533.91 $95,393.52
145 $95,393.52 $430.74 $0.00 $539.37 $96,363.63
146 $96,363.63 $430.74 $0.00 $544.85 $97,339.22
147 $97,339.22 $430.74 $0.00 $550.37 $98,320.33
148 $98,320.33 $430.74 $0.00 $555.92 $99,306.99
149 $99,306.99 $430.74 $0.00 $561.50 $100,299.23
150 $100,299.23 $430.74 $0.00 $567.11 $101,297.08
151 $101,297.08 $430.74 $0.00 $572.75 $102,300.57
152 $102,300.57 $430.74 $0.00 $578.42 $103,309.73
153 $103,309.73 $430.74 $0.00 $584.13 $104,324.60
154 $104,324.60 $430.74 $0.00 $589.87 $105,345.21
155 $105,345.21 $430.74 $0.00 $595.64 $106,371.59
156 $106,371.59 $430.74 $0.00 $601.44 $107,403.77
157 $107,403.77 $430.74 $0.00 $607.28 $108,441.79
158 $108,441.79 $430.74 $0.00 $613.15 $109,485.68
159 $109,485.68 $430.74 $0.00 $619.05 $110,535.47
160 $110,535.47 $430.74 $0.00 $624.98 $111,591.19
161 $111,591.19 $430.74 $0.00 $630.95 $112,652.88
162 $112,652.88 $430.74 $0.00 $636.96 $113,720.58
163 $113,720.58 $430.74 $0.00 $642.99 $114,794.31
164 $114,794.31 $430.74 $0.00 $649.06 $115,874.11
165 $115,874.11 $430.74 $0.00 $655.17 $116,960.02
166 $116,960.02 $430.74 $0.00 $661.31 $118,052.07
167 $118,052.07 $430.74 $0.00 $667.48 $119,150.29
168 $119,150.29 $430.74 $0.00 $673.69 $120,254.72
169 $120,254.72 $430.74 $0.00 $679.94 $121,365.40
170 $121,365.40 $430.74 $0.00 $686.22 $122,482.36
171 $122,482.36 $430.74 $0.00 $692.53 $123,605.63
172 $123,605.63 $430.74 $0.00 $698.88 $124,735.25
173 $124,735.25 $430.74 $0.00 $705.27 $125,871.26
174 $125,871.26 $430.74 $0.00 $711.69 $127,013.69
175 $127,013.69 $430.74 $0.00 $718.15 $128,162.58
176 $128,162.58 $430.74 $0.00 $724.65 $129,317.97
177 $129,317.97 $430.74 $0.00 $731.18 $130,479.89
178 $130,479.89 $430.74 $0.00 $737.75 $131,648.38
179 $131,648.38 $430.74 $0.00 $744.36 $132,823.48
180 $132,823.48 $430.74 $0.00 $751.00 $134,005.22
181 $134,005.22 $430.74 $0.00 $757.68 $135,193.64
182 $135,193.64 $430.74 $0.00 $764.40 $136,388.78
183 $136,388.78 $430.74 $0.00 $771.16 $137,590.68
184 $137,590.68 $430.74 $0.00 $777.96 $138,799.38
185 $138,799.38 $430.74 $0.00 $784.79 $140,014.91
186 $140,014.91 $430.74 $0.00 $791.66 $141,237.31
187 $141,237.31 $430.74 $0.00 $798.58 $142,466.63
188 $142,466.63 $430.74 $0.00 $805.53 $143,702.90
189 $143,702.90 $430.74 $0.00 $812.52 $144,946.16
190 $144,946.16 $430.74 $0.00 $819.55 $146,196.45
191 $146,196.45 $430.74 $0.00 $826.62 $147,453.81
192 $147,453.81 $430.74 $0.00 $833.73 $148,718.28
193 $148,718.28 $430.74 $0.00 $840.87 $149,989.89
194 $149,989.89 $430.74 $0.00 $848.06 $151,268.69
195 $151,268.69 $430.74 $0.00 $855.30 $152,554.73
196 $152,554.73 $430.74 $0.00 $862.57 $153,848.04
197 $153,848.04 $430.74 $0.00 $869.88 $155,148.66
198 $155,148.66 $430.74 $0.00 $877.23 $156,456.63
199 $156,456.63 $430.74 $0.00 $884.63 $157,772.00
200 $157,772.00 $430.74 $0.00 $892.07 $159,094.81
201 $159,094.81 $430.74 $0.00 $899.55 $160,425.10
202 $160,425.10 $430.74 $0.00 $907.07 $161,762.91
203 $161,762.91 $430.74 $0.00 $914.63 $163,108.28
204 $163,108.28 $430.74 $0.00 $922.24 $164,461.26
205 $164,461.26 $430.74 $0.00 $929.89 $165,821.89
206 $165,821.89 $430.74 $0.00 $937.58 $167,190.21
207 $167,190.21 $430.74 $0.00 $945.32 $168,566.27
208 $168,566.27 $430.74 $0.00 $953.10 $169,950.11
209 $169,950.11 $430.74 $0.00 $960.92 $171,341.77
210 $171,341.77 $430.74 $0.00 $968.79 $172,741.30
211 $172,741.30 $430.74 $0.00 $976.70 $174,148.74
212 $174,148.74 $430.74 $0.00 $984.66 $175,564.14
213 $175,564.14 $430.74 $0.00 $992.67 $176,987.55
214 $176,987.55 $430.74 $0.00 $1,000.71 $178,419.00
215 $178,419.00 $430.74 $0.00 $1,008.81 $179,858.55
216 $179,858.55 $430.74 $0.00 $1,016.95 $181,306.24
217 $181,306.24 $430.74 $50,500.50 $1,025.13 $132,261.61
218 $132,261.61 $430.74 $0.00 $747.83 $133,440.18
219 $133,440.18 $430.74 $0.00 $754.49 $134,625.41
220 $134,625.41 $430.74 $0.00 $761.19 $135,817.34
221 $135,817.34 $430.74 $0.00 $767.93 $137,016.01
222 $137,016.01 $430.74 $0.00 $774.71 $138,221.46
223 $138,221.46 $430.74 $0.00 $781.52 $139,433.72
224 $139,433.72 $430.74 $0.00 $788.38 $140,652.84
225 $140,652.84 $430.74 $0.00 $795.27 $141,878.85
226 $141,878.85 $430.74 $0.00 $802.20 $143,111.79
227 $143,111.79 $430.74 $0.00 $809.17 $144,351.70
228 $144,351.70 $430.74 $0.00 $816.19 $145,598.63
229 $145,598.63 $430.74 $53,025.52 $823.24 $93,827.09
230 $93,827.09 $430.74 $0.00 $530.51 $94,788.34
231 $94,788.34 $430.74 $0.00 $535.95 $95,755.03
232 $95,755.03 $430.74 $0.00 $541.41 $96,727.18
233 $96,727.18 $430.74 $0.00 $546.91 $97,704.83
234 $97,704.83 $430.74 $0.00 $552.44 $98,688.01
235 $98,688.01 $430.74 $0.00 $558.00 $99,676.75
236 $99,676.75 $430.74 $0.00 $563.59 $100,671.08
237 $100,671.08 $430.74 $0.00 $569.21 $101,671.03
238 $101,671.03 $430.74 $0.00 $574.86 $102,676.63
239 $102,676.63 $430.74 $0.00 $580.55 $103,687.92
240 $103,687.92 $430.74 $0.00 $586.27 $104,704.93
241 $104,704.93 $430.74 $55,676.80 $592.02 $50,050.89
242 $50,050.89 $430.74 $0.00 $283.00 $50,764.63
243 $50,764.63 $430.74 $0.00 $287.03 $51,482.40
244 $51,482.40 $430.74 $0.00 $291.09 $52,204.23
245 $52,204.23 $430.74 $0.00 $295.17 $52,930.14
246 $52,930.14 $430.74 $0.00 $299.27 $53,660.15
247 $53,660.15 $430.74 $0.00 $303.40 $54,394.29
248 $54,394.29 $430.74 $0.00 $307.55 $55,132.58
249 $55,132.58 $430.74 $0.00 $311.73 $55,875.05
250 $55,875.05 $430.74 $0.00 $315.93 $56,621.72
251 $56,621.72 $430.74 $0.00 $320.15 $57,372.61
252 $57,372.61 $430.74 $0.00 $324.39 $58,127.74
253 $58,127.74 $0.00 $58,460.64 $328.66 ($4.24)