Savings Plan and Future Cost Estimation for Mississippi College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$147,917
Monthly savings required$1,169

How much will it cost to send your child to Mississippi College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $591,669.42 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,169.03 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$39,427.00
Years until enrollment18
Annual Tuition Increase7%
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 $1,169.03 $0.00 $0.00 $1,169.03
2 $1,169.03 $1,169.03 $0.00 $6.61 $2,344.67
3 $2,344.67 $1,169.03 $0.00 $13.26 $3,526.96
4 $3,526.96 $1,169.03 $0.00 $19.94 $4,715.93
5 $4,715.93 $1,169.03 $0.00 $26.66 $5,911.62
6 $5,911.62 $1,169.03 $0.00 $33.43 $7,114.08
7 $7,114.08 $1,169.03 $0.00 $40.22 $8,323.33
8 $8,323.33 $1,169.03 $0.00 $47.06 $9,539.42
9 $9,539.42 $1,169.03 $0.00 $53.94 $10,762.39
10 $10,762.39 $1,169.03 $0.00 $60.85 $11,992.27
11 $11,992.27 $1,169.03 $0.00 $67.81 $13,229.11
12 $13,229.11 $1,169.03 $0.00 $74.80 $14,472.94
13 $14,472.94 $1,169.03 $0.00 $81.83 $15,723.80
14 $15,723.80 $1,169.03 $0.00 $88.90 $16,981.73
15 $16,981.73 $1,169.03 $0.00 $96.02 $18,246.78
16 $18,246.78 $1,169.03 $0.00 $103.17 $19,518.98
17 $19,518.98 $1,169.03 $0.00 $110.36 $20,798.37
18 $20,798.37 $1,169.03 $0.00 $117.60 $22,085.00
19 $22,085.00 $1,169.03 $0.00 $124.87 $23,378.90
20 $23,378.90 $1,169.03 $0.00 $132.19 $24,680.12
21 $24,680.12 $1,169.03 $0.00 $139.54 $25,988.69
22 $25,988.69 $1,169.03 $0.00 $146.94 $27,304.66
23 $27,304.66 $1,169.03 $0.00 $154.38 $28,628.07
24 $28,628.07 $1,169.03 $0.00 $161.87 $29,958.97
25 $29,958.97 $1,169.03 $0.00 $169.39 $31,297.39
26 $31,297.39 $1,169.03 $0.00 $176.96 $32,643.38
27 $32,643.38 $1,169.03 $0.00 $184.57 $33,996.98
28 $33,996.98 $1,169.03 $0.00 $192.22 $35,358.23
29 $35,358.23 $1,169.03 $0.00 $199.92 $36,727.18
30 $36,727.18 $1,169.03 $0.00 $207.66 $38,103.87
31 $38,103.87 $1,169.03 $0.00 $215.44 $39,488.34
32 $39,488.34 $1,169.03 $0.00 $223.27 $40,880.64
33 $40,880.64 $1,169.03 $0.00 $231.15 $42,280.82
34 $42,280.82 $1,169.03 $0.00 $239.06 $43,688.91
35 $43,688.91 $1,169.03 $0.00 $247.02 $45,104.96
36 $45,104.96 $1,169.03 $0.00 $255.03 $46,529.02
37 $46,529.02 $1,169.03 $0.00 $263.08 $47,961.13
38 $47,961.13 $1,169.03 $0.00 $271.18 $49,401.34
39 $49,401.34 $1,169.03 $0.00 $279.32 $50,849.69
40 $50,849.69 $1,169.03 $0.00 $287.51 $52,306.23
41 $52,306.23 $1,169.03 $0.00 $295.75 $53,771.01
42 $53,771.01 $1,169.03 $0.00 $304.03 $55,244.07
43 $55,244.07 $1,169.03 $0.00 $312.36 $56,725.46
44 $56,725.46 $1,169.03 $0.00 $320.73 $58,215.22
45 $58,215.22 $1,169.03 $0.00 $329.16 $59,713.41
46 $59,713.41 $1,169.03 $0.00 $337.63 $61,220.07
47 $61,220.07 $1,169.03 $0.00 $346.15 $62,735.25
48 $62,735.25 $1,169.03 $0.00 $354.71 $64,258.99
49 $64,258.99 $1,169.03 $0.00 $363.33 $65,791.35
50 $65,791.35 $1,169.03 $0.00 $371.99 $67,332.37
51 $67,332.37 $1,169.03 $0.00 $380.71 $68,882.11
52 $68,882.11 $1,169.03 $0.00 $389.47 $70,440.61
53 $70,440.61 $1,169.03 $0.00 $398.28 $72,007.92
54 $72,007.92 $1,169.03 $0.00 $407.14 $73,584.09
55 $73,584.09 $1,169.03 $0.00 $416.06 $75,169.18
56 $75,169.18 $1,169.03 $0.00 $425.02 $76,763.23
57 $76,763.23 $1,169.03 $0.00 $434.03 $78,366.29
58 $78,366.29 $1,169.03 $0.00 $443.09 $79,978.41
59 $79,978.41 $1,169.03 $0.00 $452.21 $81,599.65
60 $81,599.65 $1,169.03 $0.00 $461.38 $83,230.06
61 $83,230.06 $1,169.03 $0.00 $470.59 $84,869.68
62 $84,869.68 $1,169.03 $0.00 $479.87 $86,518.58
63 $86,518.58 $1,169.03 $0.00 $489.19 $88,176.80
64 $88,176.80 $1,169.03 $0.00 $498.56 $89,844.39
65 $89,844.39 $1,169.03 $0.00 $507.99 $91,521.41
66 $91,521.41 $1,169.03 $0.00 $517.48 $93,207.92
67 $93,207.92 $1,169.03 $0.00 $527.01 $94,903.96
68 $94,903.96 $1,169.03 $0.00 $536.60 $96,609.59
69 $96,609.59 $1,169.03 $0.00 $546.24 $98,324.86
70 $98,324.86 $1,169.03 $0.00 $555.94 $100,049.83
71 $100,049.83 $1,169.03 $0.00 $565.70 $101,784.56
72 $101,784.56 $1,169.03 $0.00 $575.50 $103,529.09
73 $103,529.09 $1,169.03 $0.00 $585.37 $105,283.49
74 $105,283.49 $1,169.03 $0.00 $595.29 $107,047.81
75 $107,047.81 $1,169.03 $0.00 $605.26 $108,822.10
76 $108,822.10 $1,169.03 $0.00 $615.30 $110,606.43
77 $110,606.43 $1,169.03 $0.00 $625.38 $112,400.84
78 $112,400.84 $1,169.03 $0.00 $635.53 $114,205.40
79 $114,205.40 $1,169.03 $0.00 $645.73 $116,020.16
80 $116,020.16 $1,169.03 $0.00 $655.99 $117,845.18
81 $117,845.18 $1,169.03 $0.00 $666.31 $119,680.52
82 $119,680.52 $1,169.03 $0.00 $676.69 $121,526.24
83 $121,526.24 $1,169.03 $0.00 $687.13 $123,382.40
84 $123,382.40 $1,169.03 $0.00 $697.62 $125,249.05
85 $125,249.05 $1,169.03 $0.00 $708.18 $127,126.26
86 $127,126.26 $1,169.03 $0.00 $718.79 $129,014.08
87 $129,014.08 $1,169.03 $0.00 $729.46 $130,912.57
88 $130,912.57 $1,169.03 $0.00 $740.20 $132,821.80
89 $132,821.80 $1,169.03 $0.00 $750.99 $134,741.82
90 $134,741.82 $1,169.03 $0.00 $761.85 $136,672.70
91 $136,672.70 $1,169.03 $0.00 $772.77 $138,614.50
92 $138,614.50 $1,169.03 $0.00 $783.75 $140,567.28
93 $140,567.28 $1,169.03 $0.00 $794.79 $142,531.10
94 $142,531.10 $1,169.03 $0.00 $805.89 $144,506.02
95 $144,506.02 $1,169.03 $0.00 $817.06 $146,492.11
96 $146,492.11 $1,169.03 $0.00 $828.29 $148,489.43
97 $148,489.43 $1,169.03 $0.00 $839.58 $150,498.04
98 $150,498.04 $1,169.03 $0.00 $850.94 $152,518.01
99 $152,518.01 $1,169.03 $0.00 $862.36 $154,549.40
100 $154,549.40 $1,169.03 $0.00 $873.84 $156,592.27
101 $156,592.27 $1,169.03 $0.00 $885.40 $158,646.70
102 $158,646.70 $1,169.03 $0.00 $897.01 $160,712.74
103 $160,712.74 $1,169.03 $0.00 $908.69 $162,790.46
104 $162,790.46 $1,169.03 $0.00 $920.44 $164,879.93
105 $164,879.93 $1,169.03 $0.00 $932.26 $166,981.22
106 $166,981.22 $1,169.03 $0.00 $944.14 $169,094.39
107 $169,094.39 $1,169.03 $0.00 $956.08 $171,219.50
108 $171,219.50 $1,169.03 $0.00 $968.10 $173,356.63
109 $173,356.63 $1,169.03 $0.00 $980.18 $175,505.84
110 $175,505.84 $1,169.03 $0.00 $992.34 $177,667.21
111 $177,667.21 $1,169.03 $0.00 $1,004.56 $179,840.80
112 $179,840.80 $1,169.03 $0.00 $1,016.85 $182,026.68
113 $182,026.68 $1,169.03 $0.00 $1,029.21 $184,224.92
114 $184,224.92 $1,169.03 $0.00 $1,041.63 $186,435.58
115 $186,435.58 $1,169.03 $0.00 $1,054.13 $188,658.74
116 $188,658.74 $1,169.03 $0.00 $1,066.70 $190,894.47
117 $190,894.47 $1,169.03 $0.00 $1,079.35 $193,142.85
118 $193,142.85 $1,169.03 $0.00 $1,092.06 $195,403.94
119 $195,403.94 $1,169.03 $0.00 $1,104.84 $197,677.81
120 $197,677.81 $1,169.03 $0.00 $1,117.70 $199,964.54
121 $199,964.54 $1,169.03 $0.00 $1,130.63 $202,264.20
122 $202,264.20 $1,169.03 $0.00 $1,143.63 $204,576.86
123 $204,576.86 $1,169.03 $0.00 $1,156.71 $206,902.60
124 $206,902.60 $1,169.03 $0.00 $1,169.86 $209,241.49
125 $209,241.49 $1,169.03 $0.00 $1,183.08 $211,593.60
126 $211,593.60 $1,169.03 $0.00 $1,196.38 $213,959.01
127 $213,959.01 $1,169.03 $0.00 $1,209.76 $216,337.80
128 $216,337.80 $1,169.03 $0.00 $1,223.21 $218,730.04
129 $218,730.04 $1,169.03 $0.00 $1,236.73 $221,135.80
130 $221,135.80 $1,169.03 $0.00 $1,250.33 $223,555.16
131 $223,555.16 $1,169.03 $0.00 $1,264.01 $225,988.20
132 $225,988.20 $1,169.03 $0.00 $1,277.77 $228,435.00
133 $228,435.00 $1,169.03 $0.00 $1,291.60 $230,895.63
134 $230,895.63 $1,169.03 $0.00 $1,305.52 $233,370.18
135 $233,370.18 $1,169.03 $0.00 $1,319.51 $235,858.72
136 $235,858.72 $1,169.03 $0.00 $1,333.58 $238,361.33
137 $238,361.33 $1,169.03 $0.00 $1,347.73 $240,878.09
138 $240,878.09 $1,169.03 $0.00 $1,361.96 $243,409.08
139 $243,409.08 $1,169.03 $0.00 $1,376.27 $245,954.38
140 $245,954.38 $1,169.03 $0.00 $1,390.66 $248,514.07
141 $248,514.07 $1,169.03 $0.00 $1,405.13 $251,088.23
142 $251,088.23 $1,169.03 $0.00 $1,419.69 $253,676.95
143 $253,676.95 $1,169.03 $0.00 $1,434.33 $256,280.31
144 $256,280.31 $1,169.03 $0.00 $1,449.05 $258,898.39
145 $258,898.39 $1,169.03 $0.00 $1,463.85 $261,531.27
146 $261,531.27 $1,169.03 $0.00 $1,478.74 $264,179.04
147 $264,179.04 $1,169.03 $0.00 $1,493.71 $266,841.78
148 $266,841.78 $1,169.03 $0.00 $1,508.76 $269,519.57
149 $269,519.57 $1,169.03 $0.00 $1,523.90 $272,212.50
150 $272,212.50 $1,169.03 $0.00 $1,539.13 $274,920.66
151 $274,920.66 $1,169.03 $0.00 $1,554.44 $277,644.13
152 $277,644.13 $1,169.03 $0.00 $1,569.84 $280,383.00
153 $280,383.00 $1,169.03 $0.00 $1,585.33 $283,137.36
154 $283,137.36 $1,169.03 $0.00 $1,600.90 $285,907.29
155 $285,907.29 $1,169.03 $0.00 $1,616.56 $288,692.88
156 $288,692.88 $1,169.03 $0.00 $1,632.31 $291,494.22
157 $291,494.22 $1,169.03 $0.00 $1,648.15 $294,311.40
158 $294,311.40 $1,169.03 $0.00 $1,664.08 $297,144.51
159 $297,144.51 $1,169.03 $0.00 $1,680.10 $299,993.64
160 $299,993.64 $1,169.03 $0.00 $1,696.21 $302,858.88
161 $302,858.88 $1,169.03 $0.00 $1,712.41 $305,740.32
162 $305,740.32 $1,169.03 $0.00 $1,728.70 $308,638.05
163 $308,638.05 $1,169.03 $0.00 $1,745.08 $311,552.16
164 $311,552.16 $1,169.03 $0.00 $1,761.56 $314,482.75
165 $314,482.75 $1,169.03 $0.00 $1,778.13 $317,429.91
166 $317,429.91 $1,169.03 $0.00 $1,794.79 $320,393.73
167 $320,393.73 $1,169.03 $0.00 $1,811.55 $323,374.31
168 $323,374.31 $1,169.03 $0.00 $1,828.41 $326,371.75
169 $326,371.75 $1,169.03 $0.00 $1,845.35 $329,386.13
170 $329,386.13 $1,169.03 $0.00 $1,862.40 $332,417.56
171 $332,417.56 $1,169.03 $0.00 $1,879.54 $335,466.13
172 $335,466.13 $1,169.03 $0.00 $1,896.77 $338,531.93
173 $338,531.93 $1,169.03 $0.00 $1,914.11 $341,615.07
174 $341,615.07 $1,169.03 $0.00 $1,931.54 $344,715.64
175 $344,715.64 $1,169.03 $0.00 $1,949.07 $347,833.74
176 $347,833.74 $1,169.03 $0.00 $1,966.70 $350,969.47
177 $350,969.47 $1,169.03 $0.00 $1,984.43 $354,122.93
178 $354,122.93 $1,169.03 $0.00 $2,002.26 $357,294.22
179 $357,294.22 $1,169.03 $0.00 $2,020.19 $360,483.44
180 $360,483.44 $1,169.03 $0.00 $2,038.23 $363,690.70
181 $363,690.70 $1,169.03 $0.00 $2,056.36 $366,916.09
182 $366,916.09 $1,169.03 $0.00 $2,074.60 $370,159.72
183 $370,159.72 $1,169.03 $0.00 $2,092.94 $373,421.69
184 $373,421.69 $1,169.03 $0.00 $2,111.38 $376,702.10
185 $376,702.10 $1,169.03 $0.00 $2,129.93 $380,001.06
186 $380,001.06 $1,169.03 $0.00 $2,148.58 $383,318.67
187 $383,318.67 $1,169.03 $0.00 $2,167.34 $386,655.04
188 $386,655.04 $1,169.03 $0.00 $2,186.20 $390,010.27
189 $390,010.27 $1,169.03 $0.00 $2,205.17 $393,384.47
190 $393,384.47 $1,169.03 $0.00 $2,224.25 $396,777.75
191 $396,777.75 $1,169.03 $0.00 $2,243.44 $400,190.22
192 $400,190.22 $1,169.03 $0.00 $2,262.73 $403,621.98
193 $403,621.98 $1,169.03 $0.00 $2,282.14 $407,073.15
194 $407,073.15 $1,169.03 $0.00 $2,301.65 $410,543.83
195 $410,543.83 $1,169.03 $0.00 $2,321.27 $414,034.13
196 $414,034.13 $1,169.03 $0.00 $2,341.01 $417,544.17
197 $417,544.17 $1,169.03 $0.00 $2,360.86 $421,074.06
198 $421,074.06 $1,169.03 $0.00 $2,380.81 $424,623.90
199 $424,623.90 $1,169.03 $0.00 $2,400.89 $428,193.82
200 $428,193.82 $1,169.03 $0.00 $2,421.07 $431,783.92
201 $431,783.92 $1,169.03 $0.00 $2,441.37 $435,394.32
202 $435,394.32 $1,169.03 $0.00 $2,461.78 $439,025.13
203 $439,025.13 $1,169.03 $0.00 $2,482.31 $442,676.47
204 $442,676.47 $1,169.03 $0.00 $2,502.96 $446,348.46
205 $446,348.46 $1,169.03 $0.00 $2,523.72 $450,041.21
206 $450,041.21 $1,169.03 $0.00 $2,544.60 $453,754.84
207 $453,754.84 $1,169.03 $0.00 $2,565.60 $457,489.47
208 $457,489.47 $1,169.03 $0.00 $2,586.71 $461,245.21
209 $461,245.21 $1,169.03 $0.00 $2,607.95 $465,022.19
210 $465,022.19 $1,169.03 $0.00 $2,629.30 $468,820.52
211 $468,820.52 $1,169.03 $0.00 $2,650.78 $472,640.33
212 $472,640.33 $1,169.03 $0.00 $2,672.38 $476,481.74
213 $476,481.74 $1,169.03 $0.00 $2,694.10 $480,344.87
214 $480,344.87 $1,169.03 $0.00 $2,715.94 $484,229.84
215 $484,229.84 $1,169.03 $0.00 $2,737.91 $488,136.78
216 $488,136.78 $1,169.03 $0.00 $2,760.00 $492,065.81
217 $492,065.81 $1,169.03 $133,260.59 $2,782.21 $362,756.46
218 $362,756.46 $1,169.03 $0.00 $2,051.08 $365,976.57
219 $365,976.57 $1,169.03 $0.00 $2,069.28 $369,214.88
220 $369,214.88 $1,169.03 $0.00 $2,087.59 $372,471.50
221 $372,471.50 $1,169.03 $0.00 $2,106.01 $375,746.54
222 $375,746.54 $1,169.03 $0.00 $2,124.53 $379,040.10
223 $379,040.10 $1,169.03 $0.00 $2,143.15 $382,352.28
224 $382,352.28 $1,169.03 $0.00 $2,161.88 $385,683.19
225 $385,683.19 $1,169.03 $0.00 $2,180.71 $389,032.93
226 $389,032.93 $1,169.03 $0.00 $2,199.65 $392,401.61
227 $392,401.61 $1,169.03 $0.00 $2,218.70 $395,789.34
228 $395,789.34 $1,169.03 $0.00 $2,237.85 $399,196.22
229 $399,196.22 $1,169.03 $142,588.83 $2,257.11 $260,033.53
230 $260,033.53 $1,169.03 $0.00 $1,470.27 $262,672.83
231 $262,672.83 $1,169.03 $0.00 $1,485.19 $265,327.05
232 $265,327.05 $1,169.03 $0.00 $1,500.20 $267,996.28
233 $267,996.28 $1,169.03 $0.00 $1,515.29 $270,680.60
234 $270,680.60 $1,169.03 $0.00 $1,530.47 $273,380.10
235 $273,380.10 $1,169.03 $0.00 $1,545.73 $276,094.86
236 $276,094.86 $1,169.03 $0.00 $1,561.08 $278,824.97
237 $278,824.97 $1,169.03 $0.00 $1,576.52 $281,570.52
238 $281,570.52 $1,169.03 $0.00 $1,592.04 $284,331.59
239 $284,331.59 $1,169.03 $0.00 $1,607.65 $287,108.27
240 $287,108.27 $1,169.03 $0.00 $1,623.35 $289,900.65
241 $289,900.65 $1,169.03 $152,570.05 $1,639.14 $140,138.77
242 $140,138.77 $1,169.03 $0.00 $792.36 $142,100.16
243 $142,100.16 $1,169.03 $0.00 $803.45 $144,072.64
244 $144,072.64 $1,169.03 $0.00 $814.61 $146,056.28
245 $146,056.28 $1,169.03 $0.00 $825.82 $148,051.13
246 $148,051.13 $1,169.03 $0.00 $837.10 $150,057.26
247 $150,057.26 $1,169.03 $0.00 $848.45 $152,074.74
248 $152,074.74 $1,169.03 $0.00 $859.85 $154,103.62
249 $154,103.62 $1,169.03 $0.00 $871.32 $156,143.97
250 $156,143.97 $1,169.03 $0.00 $882.86 $158,195.86
251 $158,195.86 $1,169.03 $0.00 $894.46 $160,259.35
252 $160,259.35 $1,169.03 $0.00 $906.13 $162,334.51
253 $162,334.51 $0.00 $163,249.95 $917.86 $2.42