Savings Plan and Future Cost Estimation for Midland University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$198,801
Monthly savings required$1,571

How much will it cost to send your child to Midland University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $795,205.39 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,571.17 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$52,990.00
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 $1,571.17 $0.00 $0.00 $1,571.17
2 $1,571.17 $1,571.17 $0.00 $8.88 $3,151.22
3 $3,151.22 $1,571.17 $0.00 $17.82 $4,740.21
4 $4,740.21 $1,571.17 $0.00 $26.80 $6,338.18
5 $6,338.18 $1,571.17 $0.00 $35.84 $7,945.19
6 $7,945.19 $1,571.17 $0.00 $44.92 $9,561.28
7 $9,561.28 $1,571.17 $0.00 $54.06 $11,186.51
8 $11,186.51 $1,571.17 $0.00 $63.25 $12,820.93
9 $12,820.93 $1,571.17 $0.00 $72.49 $14,464.59
10 $14,464.59 $1,571.17 $0.00 $81.78 $16,117.54
11 $16,117.54 $1,571.17 $0.00 $91.13 $17,779.84
12 $17,779.84 $1,571.17 $0.00 $100.53 $19,451.54
13 $19,451.54 $1,571.17 $0.00 $109.98 $21,132.69
14 $21,132.69 $1,571.17 $0.00 $119.49 $22,823.35
15 $22,823.35 $1,571.17 $0.00 $129.05 $24,523.57
16 $24,523.57 $1,571.17 $0.00 $138.66 $26,233.40
17 $26,233.40 $1,571.17 $0.00 $148.33 $27,952.90
18 $27,952.90 $1,571.17 $0.00 $158.05 $29,682.12
19 $29,682.12 $1,571.17 $0.00 $167.83 $31,421.12
20 $31,421.12 $1,571.17 $0.00 $177.66 $33,169.95
21 $33,169.95 $1,571.17 $0.00 $187.55 $34,928.67
22 $34,928.67 $1,571.17 $0.00 $197.49 $36,697.33
23 $36,697.33 $1,571.17 $0.00 $207.49 $38,475.99
24 $38,475.99 $1,571.17 $0.00 $217.55 $40,264.71
25 $40,264.71 $1,571.17 $0.00 $227.66 $42,063.54
26 $42,063.54 $1,571.17 $0.00 $237.83 $43,872.54
27 $43,872.54 $1,571.17 $0.00 $248.06 $45,691.77
28 $45,691.77 $1,571.17 $0.00 $258.35 $47,521.29
29 $47,521.29 $1,571.17 $0.00 $268.69 $49,361.15
30 $49,361.15 $1,571.17 $0.00 $279.10 $51,211.42
31 $51,211.42 $1,571.17 $0.00 $289.56 $53,072.15
32 $53,072.15 $1,571.17 $0.00 $300.08 $54,943.40
33 $54,943.40 $1,571.17 $0.00 $310.66 $56,825.23
34 $56,825.23 $1,571.17 $0.00 $321.30 $58,717.70
35 $58,717.70 $1,571.17 $0.00 $332.00 $60,620.87
36 $60,620.87 $1,571.17 $0.00 $342.76 $62,534.80
37 $62,534.80 $1,571.17 $0.00 $353.58 $64,459.55
38 $64,459.55 $1,571.17 $0.00 $364.46 $66,395.18
39 $66,395.18 $1,571.17 $0.00 $375.41 $68,341.76
40 $68,341.76 $1,571.17 $0.00 $386.41 $70,299.34
41 $70,299.34 $1,571.17 $0.00 $397.48 $72,267.99
42 $72,267.99 $1,571.17 $0.00 $408.61 $74,247.77
43 $74,247.77 $1,571.17 $0.00 $419.81 $76,238.75
44 $76,238.75 $1,571.17 $0.00 $431.06 $78,240.98
45 $78,240.98 $1,571.17 $0.00 $442.39 $80,254.54
46 $80,254.54 $1,571.17 $0.00 $453.77 $82,279.48
47 $82,279.48 $1,571.17 $0.00 $465.22 $84,315.87
48 $84,315.87 $1,571.17 $0.00 $476.73 $86,363.77
49 $86,363.77 $1,571.17 $0.00 $488.31 $88,423.25
50 $88,423.25 $1,571.17 $0.00 $499.96 $90,494.38
51 $90,494.38 $1,571.17 $0.00 $511.67 $92,577.22
52 $92,577.22 $1,571.17 $0.00 $523.45 $94,671.84
53 $94,671.84 $1,571.17 $0.00 $535.29 $96,778.30
54 $96,778.30 $1,571.17 $0.00 $547.20 $98,896.67
55 $98,896.67 $1,571.17 $0.00 $559.18 $101,027.02
56 $101,027.02 $1,571.17 $0.00 $571.22 $103,169.41
57 $103,169.41 $1,571.17 $0.00 $583.33 $105,323.91
58 $105,323.91 $1,571.17 $0.00 $595.52 $107,490.60
59 $107,490.60 $1,571.17 $0.00 $607.77 $109,669.54
60 $109,669.54 $1,571.17 $0.00 $620.09 $111,860.80
61 $111,860.80 $1,571.17 $0.00 $632.48 $114,064.45
62 $114,064.45 $1,571.17 $0.00 $644.94 $116,280.56
63 $116,280.56 $1,571.17 $0.00 $657.47 $118,509.20
64 $118,509.20 $1,571.17 $0.00 $670.07 $120,750.44
65 $120,750.44 $1,571.17 $0.00 $682.74 $123,004.35
66 $123,004.35 $1,571.17 $0.00 $695.48 $125,271.00
67 $125,271.00 $1,571.17 $0.00 $708.30 $127,550.47
68 $127,550.47 $1,571.17 $0.00 $721.19 $129,842.83
69 $129,842.83 $1,571.17 $0.00 $734.15 $132,148.15
70 $132,148.15 $1,571.17 $0.00 $747.18 $134,466.50
71 $134,466.50 $1,571.17 $0.00 $760.29 $136,797.96
72 $136,797.96 $1,571.17 $0.00 $773.48 $139,142.61
73 $139,142.61 $1,571.17 $0.00 $786.73 $141,500.51
74 $141,500.51 $1,571.17 $0.00 $800.06 $143,871.74
75 $143,871.74 $1,571.17 $0.00 $813.47 $146,256.38
76 $146,256.38 $1,571.17 $0.00 $826.95 $148,654.50
77 $148,654.50 $1,571.17 $0.00 $840.51 $151,066.18
78 $151,066.18 $1,571.17 $0.00 $854.15 $153,491.50
79 $153,491.50 $1,571.17 $0.00 $867.86 $155,930.53
80 $155,930.53 $1,571.17 $0.00 $881.65 $158,383.35
81 $158,383.35 $1,571.17 $0.00 $895.52 $160,850.04
82 $160,850.04 $1,571.17 $0.00 $909.47 $163,330.68
83 $163,330.68 $1,571.17 $0.00 $923.50 $165,825.35
84 $165,825.35 $1,571.17 $0.00 $937.60 $168,334.12
85 $168,334.12 $1,571.17 $0.00 $951.79 $170,857.08
86 $170,857.08 $1,571.17 $0.00 $966.05 $173,394.30
87 $173,394.30 $1,571.17 $0.00 $980.40 $175,945.87
88 $175,945.87 $1,571.17 $0.00 $994.82 $178,511.86
89 $178,511.86 $1,571.17 $0.00 $1,009.33 $181,092.36
90 $181,092.36 $1,571.17 $0.00 $1,023.92 $183,687.45
91 $183,687.45 $1,571.17 $0.00 $1,038.60 $186,297.22
92 $186,297.22 $1,571.17 $0.00 $1,053.35 $188,921.74
93 $188,921.74 $1,571.17 $0.00 $1,068.19 $191,561.10
94 $191,561.10 $1,571.17 $0.00 $1,083.11 $194,215.38
95 $194,215.38 $1,571.17 $0.00 $1,098.12 $196,884.67
96 $196,884.67 $1,571.17 $0.00 $1,113.21 $199,569.05
97 $199,569.05 $1,571.17 $0.00 $1,128.39 $202,268.61
98 $202,268.61 $1,571.17 $0.00 $1,143.66 $204,983.44
99 $204,983.44 $1,571.17 $0.00 $1,159.01 $207,713.62
100 $207,713.62 $1,571.17 $0.00 $1,174.44 $210,459.23
101 $210,459.23 $1,571.17 $0.00 $1,189.97 $213,220.37
102 $213,220.37 $1,571.17 $0.00 $1,205.58 $215,997.12
103 $215,997.12 $1,571.17 $0.00 $1,221.28 $218,789.57
104 $218,789.57 $1,571.17 $0.00 $1,237.07 $221,597.81
105 $221,597.81 $1,571.17 $0.00 $1,252.95 $224,421.93
106 $224,421.93 $1,571.17 $0.00 $1,268.91 $227,262.01
107 $227,262.01 $1,571.17 $0.00 $1,284.97 $230,118.15
108 $230,118.15 $1,571.17 $0.00 $1,301.12 $232,990.44
109 $232,990.44 $1,571.17 $0.00 $1,317.36 $235,878.97
110 $235,878.97 $1,571.17 $0.00 $1,333.69 $238,783.83
111 $238,783.83 $1,571.17 $0.00 $1,350.12 $241,705.12
112 $241,705.12 $1,571.17 $0.00 $1,366.64 $244,642.93
113 $244,642.93 $1,571.17 $0.00 $1,383.25 $247,597.35
114 $247,597.35 $1,571.17 $0.00 $1,399.95 $250,568.47
115 $250,568.47 $1,571.17 $0.00 $1,416.75 $253,556.39
116 $253,556.39 $1,571.17 $0.00 $1,433.64 $256,561.20
117 $256,561.20 $1,571.17 $0.00 $1,450.63 $259,583.00
118 $259,583.00 $1,571.17 $0.00 $1,467.72 $262,621.89
119 $262,621.89 $1,571.17 $0.00 $1,484.90 $265,677.96
120 $265,677.96 $1,571.17 $0.00 $1,502.18 $268,751.31
121 $268,751.31 $1,571.17 $0.00 $1,519.56 $271,842.04
122 $271,842.04 $1,571.17 $0.00 $1,537.03 $274,950.24
123 $274,950.24 $1,571.17 $0.00 $1,554.61 $278,076.02
124 $278,076.02 $1,571.17 $0.00 $1,572.28 $281,219.47
125 $281,219.47 $1,571.17 $0.00 $1,590.06 $284,380.70
126 $284,380.70 $1,571.17 $0.00 $1,607.93 $287,559.80
127 $287,559.80 $1,571.17 $0.00 $1,625.90 $290,756.87
128 $290,756.87 $1,571.17 $0.00 $1,643.98 $293,972.02
129 $293,972.02 $1,571.17 $0.00 $1,662.16 $297,205.35
130 $297,205.35 $1,571.17 $0.00 $1,680.44 $300,456.96
131 $300,456.96 $1,571.17 $0.00 $1,698.83 $303,726.96
132 $303,726.96 $1,571.17 $0.00 $1,717.32 $307,015.45
133 $307,015.45 $1,571.17 $0.00 $1,735.91 $310,322.53
134 $310,322.53 $1,571.17 $0.00 $1,754.61 $313,648.31
135 $313,648.31 $1,571.17 $0.00 $1,773.41 $316,992.89
136 $316,992.89 $1,571.17 $0.00 $1,792.32 $320,356.38
137 $320,356.38 $1,571.17 $0.00 $1,811.34 $323,738.89
138 $323,738.89 $1,571.17 $0.00 $1,830.47 $327,140.53
139 $327,140.53 $1,571.17 $0.00 $1,849.70 $330,561.40
140 $330,561.40 $1,571.17 $0.00 $1,869.04 $334,001.61
141 $334,001.61 $1,571.17 $0.00 $1,888.49 $337,461.27
142 $337,461.27 $1,571.17 $0.00 $1,908.06 $340,940.50
143 $340,940.50 $1,571.17 $0.00 $1,927.73 $344,439.40
144 $344,439.40 $1,571.17 $0.00 $1,947.51 $347,958.08
145 $347,958.08 $1,571.17 $0.00 $1,967.41 $351,496.66
146 $351,496.66 $1,571.17 $0.00 $1,987.41 $355,055.24
147 $355,055.24 $1,571.17 $0.00 $2,007.53 $358,633.94
148 $358,633.94 $1,571.17 $0.00 $2,027.77 $362,232.88
149 $362,232.88 $1,571.17 $0.00 $2,048.12 $365,852.17
150 $365,852.17 $1,571.17 $0.00 $2,068.58 $369,491.92
151 $369,491.92 $1,571.17 $0.00 $2,089.16 $373,152.25
152 $373,152.25 $1,571.17 $0.00 $2,109.86 $376,833.28
153 $376,833.28 $1,571.17 $0.00 $2,130.67 $380,535.12
154 $380,535.12 $1,571.17 $0.00 $2,151.60 $384,257.89
155 $384,257.89 $1,571.17 $0.00 $2,172.65 $388,001.71
156 $388,001.71 $1,571.17 $0.00 $2,193.82 $391,766.70
157 $391,766.70 $1,571.17 $0.00 $2,215.11 $395,552.98
158 $395,552.98 $1,571.17 $0.00 $2,236.51 $399,360.66
159 $399,360.66 $1,571.17 $0.00 $2,258.04 $403,189.87
160 $403,189.87 $1,571.17 $0.00 $2,279.69 $407,040.73
161 $407,040.73 $1,571.17 $0.00 $2,301.47 $410,913.37
162 $410,913.37 $1,571.17 $0.00 $2,323.36 $414,807.90
163 $414,807.90 $1,571.17 $0.00 $2,345.38 $418,724.45
164 $418,724.45 $1,571.17 $0.00 $2,367.53 $422,663.15
165 $422,663.15 $1,571.17 $0.00 $2,389.80 $426,624.12
166 $426,624.12 $1,571.17 $0.00 $2,412.19 $430,607.48
167 $430,607.48 $1,571.17 $0.00 $2,434.72 $434,613.37
168 $434,613.37 $1,571.17 $0.00 $2,457.37 $438,641.91
169 $438,641.91 $1,571.17 $0.00 $2,480.15 $442,693.23
170 $442,693.23 $1,571.17 $0.00 $2,503.05 $446,767.45
171 $446,767.45 $1,571.17 $0.00 $2,526.09 $450,864.71
172 $450,864.71 $1,571.17 $0.00 $2,549.25 $454,985.13
173 $454,985.13 $1,571.17 $0.00 $2,572.55 $459,128.85
174 $459,128.85 $1,571.17 $0.00 $2,595.98 $463,296.00
175 $463,296.00 $1,571.17 $0.00 $2,619.54 $467,486.71
176 $467,486.71 $1,571.17 $0.00 $2,643.24 $471,701.12
177 $471,701.12 $1,571.17 $0.00 $2,667.07 $475,939.36
178 $475,939.36 $1,571.17 $0.00 $2,691.03 $480,201.56
179 $480,201.56 $1,571.17 $0.00 $2,715.13 $484,487.86
180 $484,487.86 $1,571.17 $0.00 $2,739.36 $488,798.39
181 $488,798.39 $1,571.17 $0.00 $2,763.74 $493,133.30
182 $493,133.30 $1,571.17 $0.00 $2,788.25 $497,492.72
183 $497,492.72 $1,571.17 $0.00 $2,812.90 $501,876.79
184 $501,876.79 $1,571.17 $0.00 $2,837.68 $506,285.64
185 $506,285.64 $1,571.17 $0.00 $2,862.61 $510,719.42
186 $510,719.42 $1,571.17 $0.00 $2,887.68 $515,178.27
187 $515,178.27 $1,571.17 $0.00 $2,912.89 $519,662.33
188 $519,662.33 $1,571.17 $0.00 $2,938.25 $524,171.75
189 $524,171.75 $1,571.17 $0.00 $2,963.74 $528,706.66
190 $528,706.66 $1,571.17 $0.00 $2,989.38 $533,267.21
191 $533,267.21 $1,571.17 $0.00 $3,015.17 $537,853.55
192 $537,853.55 $1,571.17 $0.00 $3,041.10 $542,465.82
193 $542,465.82 $1,571.17 $0.00 $3,067.18 $547,104.17
194 $547,104.17 $1,571.17 $0.00 $3,093.41 $551,768.75
195 $551,768.75 $1,571.17 $0.00 $3,119.78 $556,459.70
196 $556,459.70 $1,571.17 $0.00 $3,146.30 $561,177.17
197 $561,177.17 $1,571.17 $0.00 $3,172.98 $565,921.32
198 $565,921.32 $1,571.17 $0.00 $3,199.80 $570,692.29
199 $570,692.29 $1,571.17 $0.00 $3,226.78 $575,490.24
200 $575,490.24 $1,571.17 $0.00 $3,253.91 $580,315.32
201 $580,315.32 $1,571.17 $0.00 $3,281.19 $585,167.68
202 $585,167.68 $1,571.17 $0.00 $3,308.62 $590,047.47
203 $590,047.47 $1,571.17 $0.00 $3,336.21 $594,954.85
204 $594,954.85 $1,571.17 $0.00 $3,363.96 $599,889.98
205 $599,889.98 $1,571.17 $0.00 $3,391.87 $604,853.02
206 $604,853.02 $1,571.17 $0.00 $3,419.93 $609,844.12
207 $609,844.12 $1,571.17 $0.00 $3,448.15 $614,863.44
208 $614,863.44 $1,571.17 $0.00 $3,476.53 $619,911.14
209 $619,911.14 $1,571.17 $0.00 $3,505.07 $624,987.38
210 $624,987.38 $1,571.17 $0.00 $3,533.77 $630,092.32
211 $630,092.32 $1,571.17 $0.00 $3,562.63 $635,226.12
212 $635,226.12 $1,571.17 $0.00 $3,591.66 $640,388.95
213 $640,388.95 $1,571.17 $0.00 $3,620.85 $645,580.97
214 $645,580.97 $1,571.17 $0.00 $3,650.21 $650,802.35
215 $650,802.35 $1,571.17 $0.00 $3,679.73 $656,053.25
216 $656,053.25 $1,571.17 $0.00 $3,709.42 $661,333.84
217 $661,333.84 $1,571.17 $179,102.61 $3,739.28 $487,541.68
218 $487,541.68 $1,571.17 $0.00 $2,756.63 $491,869.48
219 $491,869.48 $1,571.17 $0.00 $2,781.10 $496,221.75
220 $496,221.75 $1,571.17 $0.00 $2,805.71 $500,598.63
221 $500,598.63 $1,571.17 $0.00 $2,830.46 $505,000.26
222 $505,000.26 $1,571.17 $0.00 $2,855.34 $509,426.77
223 $509,426.77 $1,571.17 $0.00 $2,880.37 $513,878.31
224 $513,878.31 $1,571.17 $0.00 $2,905.54 $518,355.02
225 $518,355.02 $1,571.17 $0.00 $2,930.85 $522,857.04
226 $522,857.04 $1,571.17 $0.00 $2,956.31 $527,384.52
227 $527,384.52 $1,571.17 $0.00 $2,981.91 $531,937.60
228 $531,937.60 $1,571.17 $0.00 $3,007.65 $536,516.42
229 $536,516.42 $1,571.17 $191,639.79 $3,033.54 $349,481.34
230 $349,481.34 $1,571.17 $0.00 $1,976.02 $353,028.53
231 $353,028.53 $1,571.17 $0.00 $1,996.07 $356,595.77
232 $356,595.77 $1,571.17 $0.00 $2,016.24 $360,183.18
233 $360,183.18 $1,571.17 $0.00 $2,036.53 $363,790.88
234 $363,790.88 $1,571.17 $0.00 $2,056.93 $367,418.98
235 $367,418.98 $1,571.17 $0.00 $2,077.44 $371,067.59
236 $371,067.59 $1,571.17 $0.00 $2,098.07 $374,736.83
237 $374,736.83 $1,571.17 $0.00 $2,118.82 $378,426.82
238 $378,426.82 $1,571.17 $0.00 $2,139.68 $382,137.67
239 $382,137.67 $1,571.17 $0.00 $2,160.66 $385,869.50
240 $385,869.50 $1,571.17 $0.00 $2,181.76 $389,622.43
241 $389,622.43 $1,571.17 $205,054.58 $2,202.98 $188,342.00
242 $188,342.00 $1,571.17 $0.00 $1,064.91 $190,978.08
243 $190,978.08 $1,571.17 $0.00 $1,079.82 $193,629.07
244 $193,629.07 $1,571.17 $0.00 $1,094.81 $196,295.05
245 $196,295.05 $1,571.17 $0.00 $1,109.88 $198,976.10
246 $198,976.10 $1,571.17 $0.00 $1,125.04 $201,672.31
247 $201,672.31 $1,571.17 $0.00 $1,140.28 $204,383.76
248 $204,383.76 $1,571.17 $0.00 $1,155.62 $207,110.55
249 $207,110.55 $1,571.17 $0.00 $1,171.03 $209,852.75
250 $209,852.75 $1,571.17 $0.00 $1,186.54 $212,610.46
251 $212,610.46 $1,571.17 $0.00 $1,202.13 $215,383.76
252 $215,383.76 $1,571.17 $0.00 $1,217.81 $218,172.74
253 $218,172.74 $0.00 $219,408.40 $1,233.58 -$2.08