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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$72,345
Monthly savings required$573

How much will it cost to send your child to University of Minnesota Twin Cities in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $289,381.20 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $572.67 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$27,898.00
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 $572.67 $0.00 $0.00 $572.67
2 $572.67 $572.67 $0.00 $3.24 $1,148.58
3 $1,148.58 $572.67 $0.00 $6.49 $1,727.74
4 $1,727.74 $572.67 $0.00 $9.77 $2,310.18
5 $2,310.18 $572.67 $0.00 $13.06 $2,895.91
6 $2,895.91 $572.67 $0.00 $16.37 $3,484.95
7 $3,484.95 $572.67 $0.00 $19.70 $4,077.32
8 $4,077.32 $572.67 $0.00 $23.05 $4,673.04
9 $4,673.04 $572.67 $0.00 $26.42 $5,272.13
10 $5,272.13 $572.67 $0.00 $29.81 $5,874.61
11 $5,874.61 $572.67 $0.00 $33.22 $6,480.50
12 $6,480.50 $572.67 $0.00 $36.64 $7,089.81
13 $7,089.81 $572.67 $0.00 $40.09 $7,702.57
14 $7,702.57 $572.67 $0.00 $43.55 $8,318.79
15 $8,318.79 $572.67 $0.00 $47.04 $8,938.50
16 $8,938.50 $572.67 $0.00 $50.54 $9,561.71
17 $9,561.71 $572.67 $0.00 $54.06 $10,188.44
18 $10,188.44 $572.67 $0.00 $57.61 $10,818.72
19 $10,818.72 $572.67 $0.00 $61.17 $11,452.56
20 $11,452.56 $572.67 $0.00 $64.75 $12,089.98
21 $12,089.98 $572.67 $0.00 $68.36 $12,731.01
22 $12,731.01 $572.67 $0.00 $71.98 $13,375.66
23 $13,375.66 $572.67 $0.00 $75.63 $14,023.96
24 $14,023.96 $572.67 $0.00 $79.29 $14,675.92
25 $14,675.92 $572.67 $0.00 $82.98 $15,331.57
26 $15,331.57 $572.67 $0.00 $86.69 $15,990.93
27 $15,990.93 $572.67 $0.00 $90.42 $16,654.02
28 $16,654.02 $572.67 $0.00 $94.16 $17,320.85
29 $17,320.85 $572.67 $0.00 $97.93 $17,991.45
30 $17,991.45 $572.67 $0.00 $101.73 $18,665.85
31 $18,665.85 $572.67 $0.00 $105.54 $19,344.06
32 $19,344.06 $572.67 $0.00 $109.37 $20,026.10
33 $20,026.10 $572.67 $0.00 $113.23 $20,712.00
34 $20,712.00 $572.67 $0.00 $117.11 $21,401.78
35 $21,401.78 $572.67 $0.00 $121.01 $22,095.46
36 $22,095.46 $572.67 $0.00 $124.93 $22,793.06
37 $22,793.06 $572.67 $0.00 $128.88 $23,494.61
38 $23,494.61 $572.67 $0.00 $132.84 $24,200.12
39 $24,200.12 $572.67 $0.00 $136.83 $24,909.62
40 $24,909.62 $572.67 $0.00 $140.84 $25,623.13
41 $25,623.13 $572.67 $0.00 $144.88 $26,340.68
42 $26,340.68 $572.67 $0.00 $148.93 $27,062.28
43 $27,062.28 $572.67 $0.00 $153.01 $27,787.96
44 $27,787.96 $572.67 $0.00 $157.12 $28,517.75
45 $28,517.75 $572.67 $0.00 $161.24 $29,251.66
46 $29,251.66 $572.67 $0.00 $165.39 $29,989.72
47 $29,989.72 $572.67 $0.00 $169.57 $30,731.96
48 $30,731.96 $572.67 $0.00 $173.76 $31,478.39
49 $31,478.39 $572.67 $0.00 $177.98 $32,229.04
50 $32,229.04 $572.67 $0.00 $182.23 $32,983.94
51 $32,983.94 $572.67 $0.00 $186.50 $33,743.11
52 $33,743.11 $572.67 $0.00 $190.79 $34,506.57
53 $34,506.57 $572.67 $0.00 $195.11 $35,274.35
54 $35,274.35 $572.67 $0.00 $199.45 $36,046.47
55 $36,046.47 $572.67 $0.00 $203.81 $36,822.95
56 $36,822.95 $572.67 $0.00 $208.20 $37,603.82
57 $37,603.82 $572.67 $0.00 $212.62 $38,389.11
58 $38,389.11 $572.67 $0.00 $217.06 $39,178.84
59 $39,178.84 $572.67 $0.00 $221.52 $39,973.03
60 $39,973.03 $572.67 $0.00 $226.01 $40,771.71
61 $40,771.71 $572.67 $0.00 $230.53 $41,574.91
62 $41,574.91 $572.67 $0.00 $235.07 $42,382.65
63 $42,382.65 $572.67 $0.00 $239.64 $43,194.96
64 $43,194.96 $572.67 $0.00 $244.23 $44,011.86
65 $44,011.86 $572.67 $0.00 $248.85 $44,833.38
66 $44,833.38 $572.67 $0.00 $253.49 $45,659.54
67 $45,659.54 $572.67 $0.00 $258.17 $46,490.38
68 $46,490.38 $572.67 $0.00 $262.86 $47,325.91
69 $47,325.91 $572.67 $0.00 $267.59 $48,166.17
70 $48,166.17 $572.67 $0.00 $272.34 $49,011.18
71 $49,011.18 $572.67 $0.00 $277.12 $49,860.97
72 $49,860.97 $572.67 $0.00 $281.92 $50,715.56
73 $50,715.56 $572.67 $0.00 $286.75 $51,574.98
74 $51,574.98 $572.67 $0.00 $291.61 $52,439.26
75 $52,439.26 $572.67 $0.00 $296.50 $53,308.43
76 $53,308.43 $572.67 $0.00 $301.41 $54,182.51
77 $54,182.51 $572.67 $0.00 $306.36 $55,061.54
78 $55,061.54 $572.67 $0.00 $311.33 $55,945.54
79 $55,945.54 $572.67 $0.00 $316.32 $56,834.53
80 $56,834.53 $572.67 $0.00 $321.35 $57,728.55
81 $57,728.55 $572.67 $0.00 $326.41 $58,627.63
82 $58,627.63 $572.67 $0.00 $331.49 $59,531.79
83 $59,531.79 $572.67 $0.00 $336.60 $60,441.06
84 $60,441.06 $572.67 $0.00 $341.74 $61,355.47
85 $61,355.47 $572.67 $0.00 $346.91 $62,275.05
86 $62,275.05 $572.67 $0.00 $352.11 $63,199.83
87 $63,199.83 $572.67 $0.00 $357.34 $64,129.84
88 $64,129.84 $572.67 $0.00 $362.60 $65,065.11
89 $65,065.11 $572.67 $0.00 $367.89 $66,005.67
90 $66,005.67 $572.67 $0.00 $373.21 $66,951.55
91 $66,951.55 $572.67 $0.00 $378.55 $67,902.77
92 $67,902.77 $572.67 $0.00 $383.93 $68,859.37
93 $68,859.37 $572.67 $0.00 $389.34 $69,821.38
94 $69,821.38 $572.67 $0.00 $394.78 $70,788.83
95 $70,788.83 $572.67 $0.00 $400.25 $71,761.75
96 $71,761.75 $572.67 $0.00 $405.75 $72,740.17
97 $72,740.17 $572.67 $0.00 $411.28 $73,724.12
98 $73,724.12 $572.67 $0.00 $416.85 $74,713.64
99 $74,713.64 $572.67 $0.00 $422.44 $75,708.75
100 $75,708.75 $572.67 $0.00 $428.07 $76,709.49
101 $76,709.49 $572.67 $0.00 $433.73 $77,715.89
102 $77,715.89 $572.67 $0.00 $439.42 $78,727.98
103 $78,727.98 $572.67 $0.00 $445.14 $79,745.79
104 $79,745.79 $572.67 $0.00 $450.89 $80,769.35
105 $80,769.35 $572.67 $0.00 $456.68 $81,798.70
106 $81,798.70 $572.67 $0.00 $462.50 $82,833.87
107 $82,833.87 $572.67 $0.00 $468.35 $83,874.89
108 $83,874.89 $572.67 $0.00 $474.24 $84,921.80
109 $84,921.80 $572.67 $0.00 $480.16 $85,974.63
110 $85,974.63 $572.67 $0.00 $486.11 $87,033.41
111 $87,033.41 $572.67 $0.00 $492.10 $88,098.18
112 $88,098.18 $572.67 $0.00 $498.12 $89,168.97
113 $89,168.97 $572.67 $0.00 $504.17 $90,245.81
114 $90,245.81 $572.67 $0.00 $510.26 $91,328.74
115 $91,328.74 $572.67 $0.00 $516.39 $92,417.80
116 $92,417.80 $572.67 $0.00 $522.54 $93,513.01
117 $93,513.01 $572.67 $0.00 $528.74 $94,614.42
118 $94,614.42 $572.67 $0.00 $534.96 $95,722.05
119 $95,722.05 $572.67 $0.00 $541.23 $96,835.95
120 $96,835.95 $572.67 $0.00 $547.52 $97,956.14
121 $97,956.14 $572.67 $0.00 $553.86 $99,082.67
122 $99,082.67 $572.67 $0.00 $560.23 $100,215.57
123 $100,215.57 $572.67 $0.00 $566.63 $101,354.87
124 $101,354.87 $572.67 $0.00 $573.08 $102,500.62
125 $102,500.62 $572.67 $0.00 $579.55 $103,652.84
126 $103,652.84 $572.67 $0.00 $586.07 $104,811.58
127 $104,811.58 $572.67 $0.00 $592.62 $105,976.87
128 $105,976.87 $572.67 $0.00 $599.21 $107,148.75
129 $107,148.75 $572.67 $0.00 $605.83 $108,327.25
130 $108,327.25 $572.67 $0.00 $612.50 $109,512.42
131 $109,512.42 $572.67 $0.00 $619.20 $110,704.29
132 $110,704.29 $572.67 $0.00 $625.94 $111,902.90
133 $111,902.90 $572.67 $0.00 $632.72 $113,108.29
134 $113,108.29 $572.67 $0.00 $639.53 $114,320.49
135 $114,320.49 $572.67 $0.00 $646.38 $115,539.54
136 $115,539.54 $572.67 $0.00 $653.28 $116,765.49
137 $116,765.49 $572.67 $0.00 $660.21 $117,998.37
138 $117,998.37 $572.67 $0.00 $667.18 $119,238.22
139 $119,238.22 $572.67 $0.00 $674.19 $120,485.08
140 $120,485.08 $572.67 $0.00 $681.24 $121,738.99
141 $121,738.99 $572.67 $0.00 $688.33 $122,999.99
142 $122,999.99 $572.67 $0.00 $695.46 $124,268.12
143 $124,268.12 $572.67 $0.00 $702.63 $125,543.42
144 $125,543.42 $572.67 $0.00 $709.84 $126,825.93
145 $126,825.93 $572.67 $0.00 $717.09 $128,115.69
146 $128,115.69 $572.67 $0.00 $724.38 $129,412.74
147 $129,412.74 $572.67 $0.00 $731.72 $130,717.13
148 $130,717.13 $572.67 $0.00 $739.09 $132,028.89
149 $132,028.89 $572.67 $0.00 $746.51 $133,348.07
150 $133,348.07 $572.67 $0.00 $753.97 $134,674.71
151 $134,674.71 $572.67 $0.00 $761.47 $136,008.85
152 $136,008.85 $572.67 $0.00 $769.01 $137,350.53
153 $137,350.53 $572.67 $0.00 $776.60 $138,699.80
154 $138,699.80 $572.67 $0.00 $784.23 $140,056.70
155 $140,056.70 $572.67 $0.00 $791.90 $141,421.27
156 $141,421.27 $572.67 $0.00 $799.62 $142,793.56
157 $142,793.56 $572.67 $0.00 $807.38 $144,173.61
158 $144,173.61 $572.67 $0.00 $815.18 $145,561.46
159 $145,561.46 $572.67 $0.00 $823.03 $146,957.16
160 $146,957.16 $572.67 $0.00 $830.92 $148,360.75
161 $148,360.75 $572.67 $0.00 $838.85 $149,772.27
162 $149,772.27 $572.67 $0.00 $846.83 $151,191.77
163 $151,191.77 $572.67 $0.00 $854.86 $152,619.30
164 $152,619.30 $572.67 $0.00 $862.93 $154,054.90
165 $154,054.90 $572.67 $0.00 $871.05 $155,498.62
166 $155,498.62 $572.67 $0.00 $879.21 $156,950.50
167 $156,950.50 $572.67 $0.00 $887.42 $158,410.59
168 $158,410.59 $572.67 $0.00 $895.68 $159,878.94
169 $159,878.94 $572.67 $0.00 $903.98 $161,355.59
170 $161,355.59 $572.67 $0.00 $912.33 $162,840.59
171 $162,840.59 $572.67 $0.00 $920.72 $164,333.98
172 $164,333.98 $572.67 $0.00 $929.17 $165,835.82
173 $165,835.82 $572.67 $0.00 $937.66 $167,346.15
174 $167,346.15 $572.67 $0.00 $946.20 $168,865.02
175 $168,865.02 $572.67 $0.00 $954.79 $170,392.48
176 $170,392.48 $572.67 $0.00 $963.42 $171,928.57
177 $171,928.57 $572.67 $0.00 $972.11 $173,473.35
178 $173,473.35 $572.67 $0.00 $980.84 $175,026.86
179 $175,026.86 $572.67 $0.00 $989.63 $176,589.16
180 $176,589.16 $572.67 $0.00 $998.46 $178,160.29
181 $178,160.29 $572.67 $0.00 $1,007.34 $179,740.30
182 $179,740.30 $572.67 $0.00 $1,016.28 $181,329.25
183 $181,329.25 $572.67 $0.00 $1,025.26 $182,927.18
184 $182,927.18 $572.67 $0.00 $1,034.30 $184,534.15
185 $184,534.15 $572.67 $0.00 $1,043.38 $186,150.20
186 $186,150.20 $572.67 $0.00 $1,052.52 $187,775.39
187 $187,775.39 $572.67 $0.00 $1,061.71 $189,409.77
188 $189,409.77 $572.67 $0.00 $1,070.95 $191,053.39
189 $191,053.39 $572.67 $0.00 $1,080.24 $192,706.30
190 $192,706.30 $572.67 $0.00 $1,089.59 $194,368.56
191 $194,368.56 $572.67 $0.00 $1,098.99 $196,040.22
192 $196,040.22 $572.67 $0.00 $1,108.44 $197,721.33
193 $197,721.33 $572.67 $0.00 $1,117.95 $199,411.95
194 $199,411.95 $572.67 $0.00 $1,127.50 $201,112.12
195 $201,112.12 $572.67 $0.00 $1,137.12 $202,821.91
196 $202,821.91 $572.67 $0.00 $1,146.78 $204,541.36
197 $204,541.36 $572.67 $0.00 $1,156.51 $206,270.54
198 $206,270.54 $572.67 $0.00 $1,166.28 $208,009.49
199 $208,009.49 $572.67 $0.00 $1,176.12 $209,758.28
200 $209,758.28 $572.67 $0.00 $1,186.00 $211,516.95
201 $211,516.95 $572.67 $0.00 $1,195.95 $213,285.57
202 $213,285.57 $572.67 $0.00 $1,205.95 $215,064.19
203 $215,064.19 $572.67 $0.00 $1,216.00 $216,852.86
204 $216,852.86 $572.67 $0.00 $1,226.12 $218,651.65
205 $218,651.65 $572.67 $0.00 $1,236.29 $220,460.61
206 $220,460.61 $572.67 $0.00 $1,246.52 $222,279.80
207 $222,279.80 $572.67 $0.00 $1,256.80 $224,109.27
208 $224,109.27 $572.67 $0.00 $1,267.15 $225,949.09
209 $225,949.09 $572.67 $0.00 $1,277.55 $227,799.31
210 $227,799.31 $572.67 $0.00 $1,288.01 $229,659.99
211 $229,659.99 $572.67 $0.00 $1,298.53 $231,531.19
212 $231,531.19 $572.67 $0.00 $1,309.11 $233,412.97
213 $233,412.97 $572.67 $0.00 $1,319.75 $235,305.39
214 $235,305.39 $572.67 $0.00 $1,330.45 $237,208.51
215 $237,208.51 $572.67 $0.00 $1,341.21 $239,122.39
216 $239,122.39 $572.67 $0.00 $1,352.03 $241,047.09
217 $241,047.09 $572.67 $67,139.86 $1,362.92 $175,842.82
218 $175,842.82 $572.67 $0.00 $994.24 $177,409.73
219 $177,409.73 $572.67 $0.00 $1,003.10 $178,985.50
220 $178,985.50 $572.67 $0.00 $1,012.01 $180,570.18
221 $180,570.18 $572.67 $0.00 $1,020.97 $182,163.82
222 $182,163.82 $572.67 $0.00 $1,029.98 $183,766.47
223 $183,766.47 $572.67 $0.00 $1,039.04 $185,378.18
224 $185,378.18 $572.67 $0.00 $1,048.16 $186,999.01
225 $186,999.01 $572.67 $0.00 $1,057.32 $188,629.00
226 $188,629.00 $572.67 $0.00 $1,066.54 $190,268.21
227 $190,268.21 $572.67 $0.00 $1,075.80 $191,916.68
228 $191,916.68 $572.67 $0.00 $1,085.12 $193,574.47
229 $193,574.47 $572.67 $70,496.86 $1,094.50 $124,744.78
230 $124,744.78 $572.67 $0.00 $705.33 $126,022.78
231 $126,022.78 $572.67 $0.00 $712.55 $127,308.00
232 $127,308.00 $572.67 $0.00 $719.82 $128,600.49
233 $128,600.49 $572.67 $0.00 $727.13 $129,900.29
234 $129,900.29 $572.67 $0.00 $734.48 $131,207.44
235 $131,207.44 $572.67 $0.00 $741.87 $132,521.98
236 $132,521.98 $572.67 $0.00 $749.30 $133,843.95
237 $133,843.95 $572.67 $0.00 $756.77 $135,173.39
238 $135,173.39 $572.67 $0.00 $764.29 $136,510.35
239 $136,510.35 $572.67 $0.00 $771.85 $137,854.87
240 $137,854.87 $572.67 $0.00 $779.45 $139,206.99
241 $139,206.99 $572.67 $74,021.70 $787.10 $66,545.06
242 $66,545.06 $572.67 $0.00 $376.26 $67,493.99
243 $67,493.99 $572.67 $0.00 $381.62 $68,448.28
244 $68,448.28 $572.67 $0.00 $387.02 $69,407.97
245 $69,407.97 $572.67 $0.00 $392.44 $70,373.08
246 $70,373.08 $572.67 $0.00 $397.90 $71,343.65
247 $71,343.65 $572.67 $0.00 $403.39 $72,319.71
248 $72,319.71 $572.67 $0.00 $408.91 $73,301.29
249 $73,301.29 $572.67 $0.00 $414.46 $74,288.42
250 $74,288.42 $572.67 $0.00 $420.04 $75,281.13
251 $75,281.13 $572.67 $0.00 $425.65 $76,279.45
252 $76,279.45 $572.67 $0.00 $431.30 $77,283.42
253 $77,283.42 $0.00 $77,722.78 $436.97 ($2.39)