Savings Plan and Future Cost Estimation for University of Minnesota Duluth

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$66,173
Monthly savings required$524

How much will it cost to send your child to University of Minnesota Duluth in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $264,693.87 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $523.81 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$25,518.00
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 $523.81 $0.00 $0.00 $523.81
2 $523.81 $523.81 $0.00 $2.96 $1,050.58
3 $1,050.58 $523.81 $0.00 $5.94 $1,580.33
4 $1,580.33 $523.81 $0.00 $8.94 $2,113.08
5 $2,113.08 $523.81 $0.00 $11.95 $2,648.84
6 $2,648.84 $523.81 $0.00 $14.98 $3,187.63
7 $3,187.63 $523.81 $0.00 $18.02 $3,729.46
8 $3,729.46 $523.81 $0.00 $21.09 $4,274.36
9 $4,274.36 $523.81 $0.00 $24.17 $4,822.34
10 $4,822.34 $523.81 $0.00 $27.27 $5,373.42
11 $5,373.42 $523.81 $0.00 $30.38 $5,927.61
12 $5,927.61 $523.81 $0.00 $33.52 $6,484.94
13 $6,484.94 $523.81 $0.00 $36.67 $7,045.42
14 $7,045.42 $523.81 $0.00 $39.84 $7,609.07
15 $7,609.07 $523.81 $0.00 $43.02 $8,175.90
16 $8,175.90 $523.81 $0.00 $46.23 $8,745.94
17 $8,745.94 $523.81 $0.00 $49.45 $9,319.20
18 $9,319.20 $523.81 $0.00 $52.69 $9,895.70
19 $9,895.70 $523.81 $0.00 $55.95 $10,475.46
20 $10,475.46 $523.81 $0.00 $59.23 $11,058.50
21 $11,058.50 $523.81 $0.00 $62.53 $11,644.84
22 $11,644.84 $523.81 $0.00 $65.84 $12,234.49
23 $12,234.49 $523.81 $0.00 $69.18 $12,827.48
24 $12,827.48 $523.81 $0.00 $72.53 $13,423.82
25 $13,423.82 $523.81 $0.00 $75.90 $14,023.53
26 $14,023.53 $523.81 $0.00 $79.29 $14,626.63
27 $14,626.63 $523.81 $0.00 $82.70 $15,233.14
28 $15,233.14 $523.81 $0.00 $86.13 $15,843.08
29 $15,843.08 $523.81 $0.00 $89.58 $16,456.47
30 $16,456.47 $523.81 $0.00 $93.05 $17,073.33
31 $17,073.33 $523.81 $0.00 $96.54 $17,693.68
32 $17,693.68 $523.81 $0.00 $100.04 $18,317.53
33 $18,317.53 $523.81 $0.00 $103.57 $18,944.91
34 $18,944.91 $523.81 $0.00 $107.12 $19,575.84
35 $19,575.84 $523.81 $0.00 $110.68 $20,210.33
36 $20,210.33 $523.81 $0.00 $114.27 $20,848.41
37 $20,848.41 $523.81 $0.00 $117.88 $21,490.10
38 $21,490.10 $523.81 $0.00 $121.51 $22,135.42
39 $22,135.42 $523.81 $0.00 $125.16 $22,784.39
40 $22,784.39 $523.81 $0.00 $128.83 $23,437.03
41 $23,437.03 $523.81 $0.00 $132.52 $24,093.36
42 $24,093.36 $523.81 $0.00 $136.23 $24,753.40
43 $24,753.40 $523.81 $0.00 $139.96 $25,417.17
44 $25,417.17 $523.81 $0.00 $143.71 $26,084.69
45 $26,084.69 $523.81 $0.00 $147.49 $26,755.99
46 $26,755.99 $523.81 $0.00 $151.28 $27,431.08
47 $27,431.08 $523.81 $0.00 $155.10 $28,109.99
48 $28,109.99 $523.81 $0.00 $158.94 $28,792.74
49 $28,792.74 $523.81 $0.00 $162.80 $29,479.35
50 $29,479.35 $523.81 $0.00 $166.68 $30,169.84
51 $30,169.84 $523.81 $0.00 $170.58 $30,864.23
52 $30,864.23 $523.81 $0.00 $174.51 $31,562.55
53 $31,562.55 $523.81 $0.00 $178.46 $32,264.82
54 $32,264.82 $523.81 $0.00 $182.43 $32,971.06
55 $32,971.06 $523.81 $0.00 $186.42 $33,681.29
56 $33,681.29 $523.81 $0.00 $190.44 $34,395.54
57 $34,395.54 $523.81 $0.00 $194.48 $35,113.83
58 $35,113.83 $523.81 $0.00 $198.54 $35,836.18
59 $35,836.18 $523.81 $0.00 $202.62 $36,562.61
60 $36,562.61 $523.81 $0.00 $206.73 $37,293.15
61 $37,293.15 $523.81 $0.00 $210.86 $38,027.82
62 $38,027.82 $523.81 $0.00 $215.01 $38,766.64
63 $38,766.64 $523.81 $0.00 $219.19 $39,509.64
64 $39,509.64 $523.81 $0.00 $223.39 $40,256.84
65 $40,256.84 $523.81 $0.00 $227.62 $41,008.27
66 $41,008.27 $523.81 $0.00 $231.87 $41,763.95
67 $41,763.95 $523.81 $0.00 $236.14 $42,523.90
68 $42,523.90 $523.81 $0.00 $240.44 $43,288.15
69 $43,288.15 $523.81 $0.00 $244.76 $44,056.72
70 $44,056.72 $523.81 $0.00 $249.10 $44,829.63
71 $44,829.63 $523.81 $0.00 $253.47 $45,606.91
72 $45,606.91 $523.81 $0.00 $257.87 $46,388.59
73 $46,388.59 $523.81 $0.00 $262.29 $47,174.69
74 $47,174.69 $523.81 $0.00 $266.73 $47,965.23
75 $47,965.23 $523.81 $0.00 $271.20 $48,760.24
76 $48,760.24 $523.81 $0.00 $275.70 $49,559.75
77 $49,559.75 $523.81 $0.00 $280.22 $50,363.78
78 $50,363.78 $523.81 $0.00 $284.76 $51,172.35
79 $51,172.35 $523.81 $0.00 $289.34 $51,985.50
80 $51,985.50 $523.81 $0.00 $293.93 $52,803.24
81 $52,803.24 $523.81 $0.00 $298.56 $53,625.61
82 $53,625.61 $523.81 $0.00 $303.21 $54,452.63
83 $54,452.63 $523.81 $0.00 $307.88 $55,284.32
84 $55,284.32 $523.81 $0.00 $312.59 $56,120.72
85 $56,120.72 $523.81 $0.00 $317.31 $56,961.84
86 $56,961.84 $523.81 $0.00 $322.07 $57,807.72
87 $57,807.72 $523.81 $0.00 $326.85 $58,658.38
88 $58,658.38 $523.81 $0.00 $331.66 $59,513.85
89 $59,513.85 $523.81 $0.00 $336.50 $60,374.16
90 $60,374.16 $523.81 $0.00 $341.36 $61,239.33
91 $61,239.33 $523.81 $0.00 $346.26 $62,109.40
92 $62,109.40 $523.81 $0.00 $351.18 $62,984.39
93 $62,984.39 $523.81 $0.00 $356.12 $63,864.32
94 $63,864.32 $523.81 $0.00 $361.10 $64,749.23
95 $64,749.23 $523.81 $0.00 $366.10 $65,639.14
96 $65,639.14 $523.81 $0.00 $371.13 $66,534.08
97 $66,534.08 $523.81 $0.00 $376.19 $67,434.08
98 $67,434.08 $523.81 $0.00 $381.28 $68,339.17
99 $68,339.17 $523.81 $0.00 $386.40 $69,249.38
100 $69,249.38 $523.81 $0.00 $391.55 $70,164.74
101 $70,164.74 $523.81 $0.00 $396.72 $71,085.27
102 $71,085.27 $523.81 $0.00 $401.93 $72,011.01
103 $72,011.01 $523.81 $0.00 $407.16 $72,941.98
104 $72,941.98 $523.81 $0.00 $412.42 $73,878.21
105 $73,878.21 $523.81 $0.00 $417.72 $74,819.74
106 $74,819.74 $523.81 $0.00 $423.04 $75,766.59
107 $75,766.59 $523.81 $0.00 $428.40 $76,718.80
108 $76,718.80 $523.81 $0.00 $433.78 $77,676.39
109 $77,676.39 $523.81 $0.00 $439.19 $78,639.39
110 $78,639.39 $523.81 $0.00 $444.64 $79,607.84
111 $79,607.84 $523.81 $0.00 $450.11 $80,581.76
112 $80,581.76 $523.81 $0.00 $455.62 $81,561.19
113 $81,561.19 $523.81 $0.00 $461.16 $82,546.16
114 $82,546.16 $523.81 $0.00 $466.73 $83,536.70
115 $83,536.70 $523.81 $0.00 $472.33 $84,532.84
116 $84,532.84 $523.81 $0.00 $477.96 $85,534.61
117 $85,534.61 $523.81 $0.00 $483.63 $86,542.05
118 $86,542.05 $523.81 $0.00 $489.32 $87,555.18
119 $87,555.18 $523.81 $0.00 $495.05 $88,574.04
120 $88,574.04 $523.81 $0.00 $500.81 $89,598.66
121 $89,598.66 $523.81 $0.00 $506.60 $90,629.07
122 $90,629.07 $523.81 $0.00 $512.43 $91,665.31
123 $91,665.31 $523.81 $0.00 $518.29 $92,707.41
124 $92,707.41 $523.81 $0.00 $524.18 $93,755.40
125 $93,755.40 $523.81 $0.00 $530.11 $94,809.32
126 $94,809.32 $523.81 $0.00 $536.07 $95,869.20
127 $95,869.20 $523.81 $0.00 $542.06 $96,935.07
128 $96,935.07 $523.81 $0.00 $548.08 $98,006.96
129 $98,006.96 $523.81 $0.00 $554.15 $99,084.92
130 $99,084.92 $523.81 $0.00 $560.24 $100,168.97
131 $100,168.97 $523.81 $0.00 $566.37 $101,259.15
132 $101,259.15 $523.81 $0.00 $572.53 $102,355.49
133 $102,355.49 $523.81 $0.00 $578.73 $103,458.03
134 $103,458.03 $523.81 $0.00 $584.97 $104,566.81
135 $104,566.81 $523.81 $0.00 $591.24 $105,681.86
136 $105,681.86 $523.81 $0.00 $597.54 $106,803.21
137 $106,803.21 $523.81 $0.00 $603.88 $107,930.90
138 $107,930.90 $523.81 $0.00 $610.26 $109,064.97
139 $109,064.97 $523.81 $0.00 $616.67 $110,205.45
140 $110,205.45 $523.81 $0.00 $623.12 $111,352.38
141 $111,352.38 $523.81 $0.00 $629.60 $112,505.79
142 $112,505.79 $523.81 $0.00 $636.12 $113,665.72
143 $113,665.72 $523.81 $0.00 $642.68 $114,832.21
144 $114,832.21 $523.81 $0.00 $649.28 $116,005.30
145 $116,005.30 $523.81 $0.00 $655.91 $117,185.02
146 $117,185.02 $523.81 $0.00 $662.58 $118,371.41
147 $118,371.41 $523.81 $0.00 $669.29 $119,564.51
148 $119,564.51 $523.81 $0.00 $676.04 $120,764.36
149 $120,764.36 $523.81 $0.00 $682.82 $121,970.99
150 $121,970.99 $523.81 $0.00 $689.64 $123,184.44
151 $123,184.44 $523.81 $0.00 $696.50 $124,404.75
152 $124,404.75 $523.81 $0.00 $703.40 $125,631.96
153 $125,631.96 $523.81 $0.00 $710.34 $126,866.11
154 $126,866.11 $523.81 $0.00 $717.32 $128,107.24
155 $128,107.24 $523.81 $0.00 $724.34 $129,355.39
156 $129,355.39 $523.81 $0.00 $731.39 $130,610.59
157 $130,610.59 $523.81 $0.00 $738.49 $131,872.89
158 $131,872.89 $523.81 $0.00 $745.63 $133,142.33
159 $133,142.33 $523.81 $0.00 $752.81 $134,418.95
160 $134,418.95 $523.81 $0.00 $760.02 $135,702.78
161 $135,702.78 $523.81 $0.00 $767.28 $136,993.87
162 $136,993.87 $523.81 $0.00 $774.58 $138,292.26
163 $138,292.26 $523.81 $0.00 $781.92 $139,597.99
164 $139,597.99 $523.81 $0.00 $789.31 $140,911.11
165 $140,911.11 $523.81 $0.00 $796.73 $142,231.65
166 $142,231.65 $523.81 $0.00 $804.20 $143,559.66
167 $143,559.66 $523.81 $0.00 $811.71 $144,895.18
168 $144,895.18 $523.81 $0.00 $819.26 $146,238.25
169 $146,238.25 $523.81 $0.00 $826.85 $147,588.91
170 $147,588.91 $523.81 $0.00 $834.49 $148,947.21
171 $148,947.21 $523.81 $0.00 $842.17 $150,313.19
172 $150,313.19 $523.81 $0.00 $849.89 $151,686.89
173 $151,686.89 $523.81 $0.00 $857.66 $153,068.36
174 $153,068.36 $523.81 $0.00 $865.47 $154,457.64
175 $154,457.64 $523.81 $0.00 $873.33 $155,854.78
176 $155,854.78 $523.81 $0.00 $881.23 $157,259.82
177 $157,259.82 $523.81 $0.00 $889.17 $158,672.80
178 $158,672.80 $523.81 $0.00 $897.16 $160,093.77
179 $160,093.77 $523.81 $0.00 $905.19 $161,522.77
180 $161,522.77 $523.81 $0.00 $913.27 $162,959.85
181 $162,959.85 $523.81 $0.00 $921.40 $164,405.06
182 $164,405.06 $523.81 $0.00 $929.57 $165,858.44
183 $165,858.44 $523.81 $0.00 $937.79 $167,320.04
184 $167,320.04 $523.81 $0.00 $946.05 $168,789.90
185 $168,789.90 $523.81 $0.00 $954.36 $170,268.07
186 $170,268.07 $523.81 $0.00 $962.72 $171,754.60
187 $171,754.60 $523.81 $0.00 $971.13 $173,249.54
188 $173,249.54 $523.81 $0.00 $979.58 $174,752.93
189 $174,752.93 $523.81 $0.00 $988.08 $176,264.82
190 $176,264.82 $523.81 $0.00 $996.63 $177,785.26
191 $177,785.26 $523.81 $0.00 $1,005.22 $179,314.29
192 $179,314.29 $523.81 $0.00 $1,013.87 $180,851.97
193 $180,851.97 $523.81 $0.00 $1,022.56 $182,398.34
194 $182,398.34 $523.81 $0.00 $1,031.31 $183,953.46
195 $183,953.46 $523.81 $0.00 $1,040.10 $185,517.37
196 $185,517.37 $523.81 $0.00 $1,048.94 $187,090.12
197 $187,090.12 $523.81 $0.00 $1,057.83 $188,671.76
198 $188,671.76 $523.81 $0.00 $1,066.78 $190,262.35
199 $190,262.35 $523.81 $0.00 $1,075.77 $191,861.93
200 $191,861.93 $523.81 $0.00 $1,084.82 $193,470.56
201 $193,470.56 $523.81 $0.00 $1,093.91 $195,088.28
202 $195,088.28 $523.81 $0.00 $1,103.06 $196,715.15
203 $196,715.15 $523.81 $0.00 $1,112.26 $198,351.22
204 $198,351.22 $523.81 $0.00 $1,121.51 $199,996.54
205 $199,996.54 $523.81 $0.00 $1,130.81 $201,651.16
206 $201,651.16 $523.81 $0.00 $1,140.16 $203,315.13
207 $203,315.13 $523.81 $0.00 $1,149.57 $204,988.51
208 $204,988.51 $523.81 $0.00 $1,159.03 $206,671.35
209 $206,671.35 $523.81 $0.00 $1,168.55 $208,363.71
210 $208,363.71 $523.81 $0.00 $1,178.12 $210,065.64
211 $210,065.64 $523.81 $0.00 $1,187.74 $211,777.19
212 $211,777.19 $523.81 $0.00 $1,197.42 $213,498.42
213 $213,498.42 $523.81 $0.00 $1,207.15 $215,229.38
214 $215,229.38 $523.81 $0.00 $1,216.94 $216,970.13
215 $216,970.13 $523.81 $0.00 $1,226.78 $218,720.72
216 $218,720.72 $523.81 $0.00 $1,236.68 $220,481.21
217 $220,481.21 $523.81 $61,412.11 $1,246.63 $160,839.54
218 $160,839.54 $523.81 $0.00 $909.41 $162,272.76
219 $162,272.76 $523.81 $0.00 $917.51 $163,714.08
220 $163,714.08 $523.81 $0.00 $925.66 $165,163.55
221 $165,163.55 $523.81 $0.00 $933.86 $166,621.22
222 $166,621.22 $523.81 $0.00 $942.10 $168,087.13
223 $168,087.13 $523.81 $0.00 $950.39 $169,561.33
224 $169,561.33 $523.81 $0.00 $958.72 $171,043.86
225 $171,043.86 $523.81 $0.00 $967.11 $172,534.78
226 $172,534.78 $523.81 $0.00 $975.54 $174,034.13
227 $174,034.13 $523.81 $0.00 $984.01 $175,541.95
228 $175,541.95 $523.81 $0.00 $992.54 $177,058.30
229 $177,058.30 $523.81 $64,482.72 $1,001.11 $114,100.50
230 $114,100.50 $523.81 $0.00 $645.14 $115,269.45
231 $115,269.45 $523.81 $0.00 $651.75 $116,445.01
232 $116,445.01 $523.81 $0.00 $658.40 $117,627.22
233 $117,627.22 $523.81 $0.00 $665.08 $118,816.11
234 $118,816.11 $523.81 $0.00 $671.80 $120,011.72
235 $120,011.72 $523.81 $0.00 $678.56 $121,214.09
236 $121,214.09 $523.81 $0.00 $685.36 $122,423.26
237 $122,423.26 $523.81 $0.00 $692.20 $123,639.27
238 $123,639.27 $523.81 $0.00 $699.07 $124,862.15
239 $124,862.15 $523.81 $0.00 $705.99 $126,091.95
240 $126,091.95 $523.81 $0.00 $712.94 $127,328.70
241 $127,328.70 $523.81 $67,706.85 $719.93 $60,865.59
242 $60,865.59 $523.81 $0.00 $344.14 $61,733.54
243 $61,733.54 $523.81 $0.00 $349.05 $62,606.40
244 $62,606.40 $523.81 $0.00 $353.99 $63,484.20
245 $63,484.20 $523.81 $0.00 $358.95 $64,366.96
246 $64,366.96 $523.81 $0.00 $363.94 $65,254.71
247 $65,254.71 $523.81 $0.00 $368.96 $66,147.48
248 $66,147.48 $523.81 $0.00 $374.01 $67,045.30
249 $67,045.30 $523.81 $0.00 $379.08 $67,948.19
250 $67,948.19 $523.81 $0.00 $384.19 $68,856.19
251 $68,856.19 $523.81 $0.00 $389.32 $69,769.32
252 $69,769.32 $523.81 $0.00 $394.49 $70,687.62
253 $70,687.62 $0.00 $71,092.19 $399.68 ($4.89)