Savings Plan and Future Cost Estimation for College of Mount Saint Vincent

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$146,166
Monthly savings required$1,157

How much will it cost to send your child to College of Mount Saint Vincent in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $584,664.55 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,157.03 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$56,365.00
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 $1,157.03 $0.00 $0.00 $1,157.03
2 $1,157.03 $1,157.03 $0.00 $6.54 $2,320.60
3 $2,320.60 $1,157.03 $0.00 $13.12 $3,490.75
4 $3,490.75 $1,157.03 $0.00 $19.74 $4,667.52
5 $4,667.52 $1,157.03 $0.00 $26.39 $5,850.94
6 $5,850.94 $1,157.03 $0.00 $33.08 $7,041.05
7 $7,041.05 $1,157.03 $0.00 $39.81 $8,237.89
8 $8,237.89 $1,157.03 $0.00 $46.58 $9,441.50
9 $9,441.50 $1,157.03 $0.00 $53.38 $10,651.91
10 $10,651.91 $1,157.03 $0.00 $60.23 $11,869.17
11 $11,869.17 $1,157.03 $0.00 $67.11 $13,093.31
12 $13,093.31 $1,157.03 $0.00 $74.03 $14,324.37
13 $14,324.37 $1,157.03 $0.00 $80.99 $15,562.39
14 $15,562.39 $1,157.03 $0.00 $87.99 $16,807.41
15 $16,807.41 $1,157.03 $0.00 $95.03 $18,059.47
16 $18,059.47 $1,157.03 $0.00 $102.11 $19,318.61
17 $19,318.61 $1,157.03 $0.00 $109.23 $20,584.87
18 $20,584.87 $1,157.03 $0.00 $116.39 $21,858.29
19 $21,858.29 $1,157.03 $0.00 $123.59 $23,138.91
20 $23,138.91 $1,157.03 $0.00 $130.83 $24,426.77
21 $24,426.77 $1,157.03 $0.00 $138.11 $25,721.91
22 $25,721.91 $1,157.03 $0.00 $145.44 $27,024.38
23 $27,024.38 $1,157.03 $0.00 $152.80 $28,334.21
24 $28,334.21 $1,157.03 $0.00 $160.21 $29,651.45
25 $29,651.45 $1,157.03 $0.00 $167.65 $30,976.13
26 $30,976.13 $1,157.03 $0.00 $175.14 $32,308.30
27 $32,308.30 $1,157.03 $0.00 $182.68 $33,648.01
28 $33,648.01 $1,157.03 $0.00 $190.25 $34,995.29
29 $34,995.29 $1,157.03 $0.00 $197.87 $36,350.19
30 $36,350.19 $1,157.03 $0.00 $205.53 $37,712.75
31 $37,712.75 $1,157.03 $0.00 $213.23 $39,083.01
32 $39,083.01 $1,157.03 $0.00 $220.98 $40,461.02
33 $40,461.02 $1,157.03 $0.00 $228.77 $41,846.82
34 $41,846.82 $1,157.03 $0.00 $236.61 $43,240.46
35 $43,240.46 $1,157.03 $0.00 $244.49 $44,641.98
36 $44,641.98 $1,157.03 $0.00 $252.41 $46,051.42
37 $46,051.42 $1,157.03 $0.00 $260.38 $47,468.83
38 $47,468.83 $1,157.03 $0.00 $268.40 $48,894.26
39 $48,894.26 $1,157.03 $0.00 $276.46 $50,327.75
40 $50,327.75 $1,157.03 $0.00 $284.56 $51,769.34
41 $51,769.34 $1,157.03 $0.00 $292.71 $53,219.08
42 $53,219.08 $1,157.03 $0.00 $300.91 $54,677.02
43 $54,677.02 $1,157.03 $0.00 $309.15 $56,143.20
44 $56,143.20 $1,157.03 $0.00 $317.44 $57,617.67
45 $57,617.67 $1,157.03 $0.00 $325.78 $59,100.48
46 $59,100.48 $1,157.03 $0.00 $334.16 $60,591.67
47 $60,591.67 $1,157.03 $0.00 $342.59 $62,091.29
48 $62,091.29 $1,157.03 $0.00 $351.07 $63,599.39
49 $63,599.39 $1,157.03 $0.00 $359.60 $65,116.02
50 $65,116.02 $1,157.03 $0.00 $368.18 $66,641.23
51 $66,641.23 $1,157.03 $0.00 $376.80 $68,175.06
52 $68,175.06 $1,157.03 $0.00 $385.47 $69,717.56
53 $69,717.56 $1,157.03 $0.00 $394.19 $71,268.78
54 $71,268.78 $1,157.03 $0.00 $402.96 $72,828.77
55 $72,828.77 $1,157.03 $0.00 $411.78 $74,397.58
56 $74,397.58 $1,157.03 $0.00 $420.65 $75,975.26
57 $75,975.26 $1,157.03 $0.00 $429.58 $77,561.87
58 $77,561.87 $1,157.03 $0.00 $438.55 $79,157.45
59 $79,157.45 $1,157.03 $0.00 $447.57 $80,762.05
60 $80,762.05 $1,157.03 $0.00 $456.64 $82,375.72
61 $82,375.72 $1,157.03 $0.00 $465.76 $83,998.51
62 $83,998.51 $1,157.03 $0.00 $474.94 $85,630.48
63 $85,630.48 $1,157.03 $0.00 $484.17 $87,271.68
64 $87,271.68 $1,157.03 $0.00 $493.45 $88,922.16
65 $88,922.16 $1,157.03 $0.00 $502.78 $90,581.97
66 $90,581.97 $1,157.03 $0.00 $512.16 $92,251.16
67 $92,251.16 $1,157.03 $0.00 $521.60 $93,929.79
68 $93,929.79 $1,157.03 $0.00 $531.09 $95,617.91
69 $95,617.91 $1,157.03 $0.00 $540.64 $97,315.58
70 $97,315.58 $1,157.03 $0.00 $550.24 $99,022.85
71 $99,022.85 $1,157.03 $0.00 $559.89 $100,739.77
72 $100,739.77 $1,157.03 $0.00 $569.60 $102,466.40
73 $102,466.40 $1,157.03 $0.00 $579.36 $104,202.79
74 $104,202.79 $1,157.03 $0.00 $589.18 $105,949.00
75 $105,949.00 $1,157.03 $0.00 $599.05 $107,705.08
76 $107,705.08 $1,157.03 $0.00 $608.98 $109,471.09
77 $109,471.09 $1,157.03 $0.00 $618.97 $111,247.09
78 $111,247.09 $1,157.03 $0.00 $629.01 $113,033.13
79 $113,033.13 $1,157.03 $0.00 $639.11 $114,829.27
80 $114,829.27 $1,157.03 $0.00 $649.26 $116,635.56
81 $116,635.56 $1,157.03 $0.00 $659.47 $118,452.06
82 $118,452.06 $1,157.03 $0.00 $669.75 $120,278.84
83 $120,278.84 $1,157.03 $0.00 $680.07 $122,115.94
84 $122,115.94 $1,157.03 $0.00 $690.46 $123,963.43
85 $123,963.43 $1,157.03 $0.00 $700.91 $125,821.37
86 $125,821.37 $1,157.03 $0.00 $711.41 $127,689.81
87 $127,689.81 $1,157.03 $0.00 $721.98 $129,568.82
88 $129,568.82 $1,157.03 $0.00 $732.60 $131,458.45
89 $131,458.45 $1,157.03 $0.00 $743.29 $133,358.77
90 $133,358.77 $1,157.03 $0.00 $754.03 $135,269.83
91 $135,269.83 $1,157.03 $0.00 $764.84 $137,191.70
92 $137,191.70 $1,157.03 $0.00 $775.70 $139,124.43
93 $139,124.43 $1,157.03 $0.00 $786.63 $141,068.09
94 $141,068.09 $1,157.03 $0.00 $797.62 $143,022.74
95 $143,022.74 $1,157.03 $0.00 $808.67 $144,988.44
96 $144,988.44 $1,157.03 $0.00 $819.79 $146,965.26
97 $146,965.26 $1,157.03 $0.00 $830.96 $148,953.25
98 $148,953.25 $1,157.03 $0.00 $842.20 $150,952.48
99 $150,952.48 $1,157.03 $0.00 $853.51 $152,963.02
100 $152,963.02 $1,157.03 $0.00 $864.88 $154,984.93
101 $154,984.93 $1,157.03 $0.00 $876.31 $157,018.27
102 $157,018.27 $1,157.03 $0.00 $887.80 $159,063.10
103 $159,063.10 $1,157.03 $0.00 $899.37 $161,119.50
104 $161,119.50 $1,157.03 $0.00 $910.99 $163,187.52
105 $163,187.52 $1,157.03 $0.00 $922.69 $165,267.24
106 $165,267.24 $1,157.03 $0.00 $934.45 $167,358.72
107 $167,358.72 $1,157.03 $0.00 $946.27 $169,462.02
108 $169,462.02 $1,157.03 $0.00 $958.16 $171,577.21
109 $171,577.21 $1,157.03 $0.00 $970.12 $173,704.36
110 $173,704.36 $1,157.03 $0.00 $982.15 $175,843.54
111 $175,843.54 $1,157.03 $0.00 $994.24 $177,994.81
112 $177,994.81 $1,157.03 $0.00 $1,006.41 $180,158.25
113 $180,158.25 $1,157.03 $0.00 $1,018.64 $182,333.92
114 $182,333.92 $1,157.03 $0.00 $1,030.94 $184,521.89
115 $184,521.89 $1,157.03 $0.00 $1,043.31 $186,722.23
116 $186,722.23 $1,157.03 $0.00 $1,055.75 $188,935.01
117 $188,935.01 $1,157.03 $0.00 $1,068.27 $191,160.31
118 $191,160.31 $1,157.03 $0.00 $1,080.85 $193,398.19
119 $193,398.19 $1,157.03 $0.00 $1,093.50 $195,648.72
120 $195,648.72 $1,157.03 $0.00 $1,106.23 $197,911.98
121 $197,911.98 $1,157.03 $0.00 $1,119.02 $200,188.03
122 $200,188.03 $1,157.03 $0.00 $1,131.89 $202,476.95
123 $202,476.95 $1,157.03 $0.00 $1,144.83 $204,778.81
124 $204,778.81 $1,157.03 $0.00 $1,157.85 $207,093.69
125 $207,093.69 $1,157.03 $0.00 $1,170.94 $209,421.66
126 $209,421.66 $1,157.03 $0.00 $1,184.10 $211,762.79
127 $211,762.79 $1,157.03 $0.00 $1,197.34 $214,117.16
128 $214,117.16 $1,157.03 $0.00 $1,210.65 $216,484.84
129 $216,484.84 $1,157.03 $0.00 $1,224.04 $218,865.91
130 $218,865.91 $1,157.03 $0.00 $1,237.50 $221,260.44
131 $221,260.44 $1,157.03 $0.00 $1,251.04 $223,668.51
132 $223,668.51 $1,157.03 $0.00 $1,264.65 $226,090.19
133 $226,090.19 $1,157.03 $0.00 $1,278.35 $228,525.57
134 $228,525.57 $1,157.03 $0.00 $1,292.12 $230,974.72
135 $230,974.72 $1,157.03 $0.00 $1,305.96 $233,437.71
136 $233,437.71 $1,157.03 $0.00 $1,319.89 $235,914.63
137 $235,914.63 $1,157.03 $0.00 $1,333.90 $238,405.56
138 $238,405.56 $1,157.03 $0.00 $1,347.98 $240,910.57
139 $240,910.57 $1,157.03 $0.00 $1,362.14 $243,429.74
140 $243,429.74 $1,157.03 $0.00 $1,376.39 $245,963.16
141 $245,963.16 $1,157.03 $0.00 $1,390.71 $248,510.90
142 $248,510.90 $1,157.03 $0.00 $1,405.12 $251,073.05
143 $251,073.05 $1,157.03 $0.00 $1,419.60 $253,649.68
144 $253,649.68 $1,157.03 $0.00 $1,434.17 $256,240.88
145 $256,240.88 $1,157.03 $0.00 $1,448.82 $258,846.73
146 $258,846.73 $1,157.03 $0.00 $1,463.56 $261,467.32
147 $261,467.32 $1,157.03 $0.00 $1,478.37 $264,102.72
148 $264,102.72 $1,157.03 $0.00 $1,493.28 $266,753.03
149 $266,753.03 $1,157.03 $0.00 $1,508.26 $269,418.32
150 $269,418.32 $1,157.03 $0.00 $1,523.33 $272,098.68
151 $272,098.68 $1,157.03 $0.00 $1,538.49 $274,794.20
152 $274,794.20 $1,157.03 $0.00 $1,553.73 $277,504.96
153 $277,504.96 $1,157.03 $0.00 $1,569.05 $280,231.04
154 $280,231.04 $1,157.03 $0.00 $1,584.47 $282,972.54
155 $282,972.54 $1,157.03 $0.00 $1,599.97 $285,729.54
156 $285,729.54 $1,157.03 $0.00 $1,615.56 $288,502.13
157 $288,502.13 $1,157.03 $0.00 $1,631.23 $291,290.39
158 $291,290.39 $1,157.03 $0.00 $1,647.00 $294,094.42
159 $294,094.42 $1,157.03 $0.00 $1,662.85 $296,914.30
160 $296,914.30 $1,157.03 $0.00 $1,678.80 $299,750.13
161 $299,750.13 $1,157.03 $0.00 $1,694.83 $302,601.99
162 $302,601.99 $1,157.03 $0.00 $1,710.96 $305,469.98
163 $305,469.98 $1,157.03 $0.00 $1,727.17 $308,354.18
164 $308,354.18 $1,157.03 $0.00 $1,743.48 $311,254.69
165 $311,254.69 $1,157.03 $0.00 $1,759.88 $314,171.60
166 $314,171.60 $1,157.03 $0.00 $1,776.37 $317,105.00
167 $317,105.00 $1,157.03 $0.00 $1,792.96 $320,054.99
168 $320,054.99 $1,157.03 $0.00 $1,809.64 $323,021.66
169 $323,021.66 $1,157.03 $0.00 $1,826.41 $326,005.10
170 $326,005.10 $1,157.03 $0.00 $1,843.28 $329,005.41
171 $329,005.41 $1,157.03 $0.00 $1,860.24 $332,022.68
172 $332,022.68 $1,157.03 $0.00 $1,877.30 $335,057.01
173 $335,057.01 $1,157.03 $0.00 $1,894.46 $338,108.50
174 $338,108.50 $1,157.03 $0.00 $1,911.71 $341,177.24
175 $341,177.24 $1,157.03 $0.00 $1,929.07 $344,263.34
176 $344,263.34 $1,157.03 $0.00 $1,946.51 $347,366.88
177 $347,366.88 $1,157.03 $0.00 $1,964.06 $350,487.97
178 $350,487.97 $1,157.03 $0.00 $1,981.71 $353,626.71
179 $353,626.71 $1,157.03 $0.00 $1,999.46 $356,783.20
180 $356,783.20 $1,157.03 $0.00 $2,017.30 $359,957.53
181 $359,957.53 $1,157.03 $0.00 $2,035.25 $363,149.81
182 $363,149.81 $1,157.03 $0.00 $2,053.30 $366,360.14
183 $366,360.14 $1,157.03 $0.00 $2,071.45 $369,588.62
184 $369,588.62 $1,157.03 $0.00 $2,089.71 $372,835.36
185 $372,835.36 $1,157.03 $0.00 $2,108.07 $376,100.46
186 $376,100.46 $1,157.03 $0.00 $2,126.53 $379,384.02
187 $379,384.02 $1,157.03 $0.00 $2,145.09 $382,686.14
188 $382,686.14 $1,157.03 $0.00 $2,163.76 $386,006.93
189 $386,006.93 $1,157.03 $0.00 $2,182.54 $389,346.50
190 $389,346.50 $1,157.03 $0.00 $2,201.42 $392,704.95
191 $392,704.95 $1,157.03 $0.00 $2,220.41 $396,082.39
192 $396,082.39 $1,157.03 $0.00 $2,239.51 $399,478.93
193 $399,478.93 $1,157.03 $0.00 $2,258.71 $402,894.67
194 $402,894.67 $1,157.03 $0.00 $2,278.03 $406,329.73
195 $406,329.73 $1,157.03 $0.00 $2,297.45 $409,784.21
196 $409,784.21 $1,157.03 $0.00 $2,316.98 $413,258.22
197 $413,258.22 $1,157.03 $0.00 $2,336.62 $416,751.87
198 $416,751.87 $1,157.03 $0.00 $2,356.38 $420,265.28
199 $420,265.28 $1,157.03 $0.00 $2,376.24 $423,798.55
200 $423,798.55 $1,157.03 $0.00 $2,396.22 $427,351.80
201 $427,351.80 $1,157.03 $0.00 $2,416.31 $430,925.14
202 $430,925.14 $1,157.03 $0.00 $2,436.51 $434,518.68
203 $434,518.68 $1,157.03 $0.00 $2,456.83 $438,132.54
204 $438,132.54 $1,157.03 $0.00 $2,477.27 $441,766.84
205 $441,766.84 $1,157.03 $0.00 $2,497.81 $445,421.68
206 $445,421.68 $1,157.03 $0.00 $2,518.48 $449,097.19
207 $449,097.19 $1,157.03 $0.00 $2,539.26 $452,793.48
208 $452,793.48 $1,157.03 $0.00 $2,560.16 $456,510.67
209 $456,510.67 $1,157.03 $0.00 $2,581.18 $460,248.88
210 $460,248.88 $1,157.03 $0.00 $2,602.31 $464,008.22
211 $464,008.22 $1,157.03 $0.00 $2,623.57 $467,788.82
212 $467,788.82 $1,157.03 $0.00 $2,644.95 $471,590.80
213 $471,590.80 $1,157.03 $0.00 $2,666.44 $475,414.27
214 $475,414.27 $1,157.03 $0.00 $2,688.06 $479,259.36
215 $479,259.36 $1,157.03 $0.00 $2,709.80 $483,126.19
216 $483,126.19 $1,157.03 $0.00 $2,731.67 $487,014.89
217 $487,014.89 $1,157.03 $135,649.09 $2,753.65 $355,276.48
218 $355,276.48 $1,157.03 $0.00 $2,008.78 $358,442.29
219 $358,442.29 $1,157.03 $0.00 $2,026.68 $361,626.00
220 $361,626.00 $1,157.03 $0.00 $2,044.69 $364,827.72
221 $364,827.72 $1,157.03 $0.00 $2,062.79 $368,047.54
222 $368,047.54 $1,157.03 $0.00 $2,080.99 $371,285.56
223 $371,285.56 $1,157.03 $0.00 $2,099.30 $374,541.89
224 $374,541.89 $1,157.03 $0.00 $2,117.71 $377,816.63
225 $377,816.63 $1,157.03 $0.00 $2,136.23 $381,109.89
226 $381,109.89 $1,157.03 $0.00 $2,154.85 $384,421.77
227 $384,421.77 $1,157.03 $0.00 $2,173.58 $387,752.38
228 $387,752.38 $1,157.03 $0.00 $2,192.41 $391,101.82
229 $391,101.82 $1,157.03 $142,431.55 $2,211.35 $252,038.65
230 $252,038.65 $1,157.03 $0.00 $1,425.06 $254,620.74
231 $254,620.74 $1,157.03 $0.00 $1,439.66 $257,217.43
232 $257,217.43 $1,157.03 $0.00 $1,454.34 $259,828.80
233 $259,828.80 $1,157.03 $0.00 $1,469.11 $262,454.94
234 $262,454.94 $1,157.03 $0.00 $1,483.96 $265,095.93
235 $265,095.93 $1,157.03 $0.00 $1,498.89 $267,751.85
236 $267,751.85 $1,157.03 $0.00 $1,513.91 $270,422.79
237 $270,422.79 $1,157.03 $0.00 $1,529.01 $273,108.83
238 $273,108.83 $1,157.03 $0.00 $1,544.20 $275,810.06
239 $275,810.06 $1,157.03 $0.00 $1,559.47 $278,526.56
240 $278,526.56 $1,157.03 $0.00 $1,574.83 $281,258.42
241 $281,258.42 $1,157.03 $149,553.13 $1,590.28 $134,452.60
242 $134,452.60 $1,157.03 $0.00 $760.21 $136,369.84
243 $136,369.84 $1,157.03 $0.00 $771.05 $138,297.92
244 $138,297.92 $1,157.03 $0.00 $781.96 $140,236.91
245 $140,236.91 $1,157.03 $0.00 $792.92 $142,186.86
246 $142,186.86 $1,157.03 $0.00 $803.95 $144,147.84
247 $144,147.84 $1,157.03 $0.00 $815.03 $146,119.90
248 $146,119.90 $1,157.03 $0.00 $826.18 $148,103.11
249 $148,103.11 $1,157.03 $0.00 $837.40 $150,097.54
250 $150,097.54 $1,157.03 $0.00 $848.67 $152,103.24
251 $152,103.24 $1,157.03 $0.00 $860.01 $154,120.28
252 $154,120.28 $1,157.03 $0.00 $871.42 $156,148.73
253 $156,148.73 $0.00 $157,030.78 $882.89 $0.84