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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$117,213
Monthly savings required$928

How much will it cost to send your child to Medaille College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $468,851.90 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $927.84 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$45,200.00
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 $927.84 $0.00 $0.00 $927.84
2 $927.84 $927.84 $0.00 $5.25 $1,860.93
3 $1,860.93 $927.84 $0.00 $10.52 $2,799.29
4 $2,799.29 $927.84 $0.00 $15.83 $3,742.96
5 $3,742.96 $927.84 $0.00 $21.16 $4,691.96
6 $4,691.96 $927.84 $0.00 $26.53 $5,646.33
7 $5,646.33 $927.84 $0.00 $31.93 $6,606.10
8 $6,606.10 $927.84 $0.00 $37.35 $7,571.29
9 $7,571.29 $927.84 $0.00 $42.81 $8,541.94
10 $8,541.94 $927.84 $0.00 $48.30 $9,518.08
11 $9,518.08 $927.84 $0.00 $53.82 $10,499.74
12 $10,499.74 $927.84 $0.00 $59.37 $11,486.95
13 $11,486.95 $927.84 $0.00 $64.95 $12,479.74
14 $12,479.74 $927.84 $0.00 $70.56 $13,478.14
15 $13,478.14 $927.84 $0.00 $76.21 $14,482.19
16 $14,482.19 $927.84 $0.00 $81.88 $15,491.91
17 $15,491.91 $927.84 $0.00 $87.59 $16,507.34
18 $16,507.34 $927.84 $0.00 $93.33 $17,528.51
19 $17,528.51 $927.84 $0.00 $99.11 $18,555.46
20 $18,555.46 $927.84 $0.00 $104.92 $19,588.22
21 $19,588.22 $927.84 $0.00 $110.75 $20,626.81
22 $20,626.81 $927.84 $0.00 $116.63 $21,671.28
23 $21,671.28 $927.84 $0.00 $122.53 $22,721.65
24 $22,721.65 $927.84 $0.00 $128.47 $23,777.96
25 $23,777.96 $927.84 $0.00 $134.44 $24,840.24
26 $24,840.24 $927.84 $0.00 $140.45 $25,908.53
27 $25,908.53 $927.84 $0.00 $146.49 $26,982.86
28 $26,982.86 $927.84 $0.00 $152.57 $28,063.27
29 $28,063.27 $927.84 $0.00 $158.67 $29,149.78
30 $29,149.78 $927.84 $0.00 $164.82 $30,242.44
31 $30,242.44 $927.84 $0.00 $171.00 $31,341.28
32 $31,341.28 $927.84 $0.00 $177.21 $32,446.33
33 $32,446.33 $927.84 $0.00 $183.46 $33,557.63
34 $33,557.63 $927.84 $0.00 $189.74 $34,675.21
35 $34,675.21 $927.84 $0.00 $196.06 $35,799.11
36 $35,799.11 $927.84 $0.00 $202.41 $36,929.36
37 $36,929.36 $927.84 $0.00 $208.80 $38,066.00
38 $38,066.00 $927.84 $0.00 $215.23 $39,209.07
39 $39,209.07 $927.84 $0.00 $221.69 $40,358.60
40 $40,358.60 $927.84 $0.00 $228.19 $41,514.63
41 $41,514.63 $927.84 $0.00 $234.73 $42,677.20
42 $42,677.20 $927.84 $0.00 $241.30 $43,846.34
43 $43,846.34 $927.84 $0.00 $247.91 $45,022.09
44 $45,022.09 $927.84 $0.00 $254.56 $46,204.49
45 $46,204.49 $927.84 $0.00 $261.25 $47,393.58
46 $47,393.58 $927.84 $0.00 $267.97 $48,589.39
47 $48,589.39 $927.84 $0.00 $274.73 $49,791.96
48 $49,791.96 $927.84 $0.00 $281.53 $51,001.33
49 $51,001.33 $927.84 $0.00 $288.37 $52,217.54
50 $52,217.54 $927.84 $0.00 $295.25 $53,440.63
51 $53,440.63 $927.84 $0.00 $302.16 $54,670.63
52 $54,670.63 $927.84 $0.00 $309.12 $55,907.59
53 $55,907.59 $927.84 $0.00 $316.11 $57,151.54
54 $57,151.54 $927.84 $0.00 $323.14 $58,402.52
55 $58,402.52 $927.84 $0.00 $330.22 $59,660.58
56 $59,660.58 $927.84 $0.00 $337.33 $60,925.75
57 $60,925.75 $927.84 $0.00 $344.48 $62,198.07
58 $62,198.07 $927.84 $0.00 $351.68 $63,477.59
59 $63,477.59 $927.84 $0.00 $358.91 $64,764.34
60 $64,764.34 $927.84 $0.00 $366.19 $66,058.37
61 $66,058.37 $927.84 $0.00 $373.50 $67,359.71
62 $67,359.71 $927.84 $0.00 $380.86 $68,668.41
63 $68,668.41 $927.84 $0.00 $388.26 $69,984.51
64 $69,984.51 $927.84 $0.00 $395.70 $71,308.05
65 $71,308.05 $927.84 $0.00 $403.19 $72,639.08
66 $72,639.08 $927.84 $0.00 $410.71 $73,977.63
67 $73,977.63 $927.84 $0.00 $418.28 $75,323.75
68 $75,323.75 $927.84 $0.00 $425.89 $76,677.48
69 $76,677.48 $927.84 $0.00 $433.55 $78,038.87
70 $78,038.87 $927.84 $0.00 $441.24 $79,407.95
71 $79,407.95 $927.84 $0.00 $448.98 $80,784.77
72 $80,784.77 $927.84 $0.00 $456.77 $82,169.38
73 $82,169.38 $927.84 $0.00 $464.60 $83,561.82
74 $83,561.82 $927.84 $0.00 $472.47 $84,962.13
75 $84,962.13 $927.84 $0.00 $480.39 $86,370.36
76 $86,370.36 $927.84 $0.00 $488.35 $87,786.55
77 $87,786.55 $927.84 $0.00 $496.36 $89,210.75
78 $89,210.75 $927.84 $0.00 $504.41 $90,643.00
79 $90,643.00 $927.84 $0.00 $512.51 $92,083.35
80 $92,083.35 $927.84 $0.00 $520.65 $93,531.84
81 $93,531.84 $927.84 $0.00 $528.84 $94,988.52
82 $94,988.52 $927.84 $0.00 $537.08 $96,453.44
83 $96,453.44 $927.84 $0.00 $545.36 $97,926.64
84 $97,926.64 $927.84 $0.00 $553.69 $99,408.17
85 $99,408.17 $927.84 $0.00 $562.07 $100,898.08
86 $100,898.08 $927.84 $0.00 $570.49 $102,396.41
87 $102,396.41 $927.84 $0.00 $578.96 $103,903.21
88 $103,903.21 $927.84 $0.00 $587.48 $105,418.53
89 $105,418.53 $927.84 $0.00 $596.05 $106,942.42
90 $106,942.42 $927.84 $0.00 $604.67 $108,474.93
91 $108,474.93 $927.84 $0.00 $613.33 $110,016.10
92 $110,016.10 $927.84 $0.00 $622.05 $111,565.99
93 $111,565.99 $927.84 $0.00 $630.81 $113,124.64
94 $113,124.64 $927.84 $0.00 $639.62 $114,692.10
95 $114,692.10 $927.84 $0.00 $648.49 $116,268.43
96 $116,268.43 $927.84 $0.00 $657.40 $117,853.67
97 $117,853.67 $927.84 $0.00 $666.36 $119,447.87
98 $119,447.87 $927.84 $0.00 $675.38 $121,051.09
99 $121,051.09 $927.84 $0.00 $684.44 $122,663.37
100 $122,663.37 $927.84 $0.00 $693.56 $124,284.77
101 $124,284.77 $927.84 $0.00 $702.72 $125,915.33
102 $125,915.33 $927.84 $0.00 $711.94 $127,555.11
103 $127,555.11 $927.84 $0.00 $721.22 $129,204.17
104 $129,204.17 $927.84 $0.00 $730.54 $130,862.55
105 $130,862.55 $927.84 $0.00 $739.92 $132,530.31
106 $132,530.31 $927.84 $0.00 $749.35 $134,207.50
107 $134,207.50 $927.84 $0.00 $758.83 $135,894.17
108 $135,894.17 $927.84 $0.00 $768.37 $137,590.38
109 $137,590.38 $927.84 $0.00 $777.96 $139,296.18
110 $139,296.18 $927.84 $0.00 $787.60 $141,011.62
111 $141,011.62 $927.84 $0.00 $797.30 $142,736.76
112 $142,736.76 $927.84 $0.00 $807.05 $144,471.65
113 $144,471.65 $927.84 $0.00 $816.86 $146,216.35
114 $146,216.35 $927.84 $0.00 $826.73 $147,970.92
115 $147,970.92 $927.84 $0.00 $836.65 $149,735.41
116 $149,735.41 $927.84 $0.00 $846.63 $151,509.88
117 $151,509.88 $927.84 $0.00 $856.66 $153,294.38
118 $153,294.38 $927.84 $0.00 $866.75 $155,088.97
119 $155,088.97 $927.84 $0.00 $876.90 $156,893.71
120 $156,893.71 $927.84 $0.00 $887.10 $158,708.65
121 $158,708.65 $927.84 $0.00 $897.36 $160,533.85
122 $160,533.85 $927.84 $0.00 $907.68 $162,369.37
123 $162,369.37 $927.84 $0.00 $918.06 $164,215.27
124 $164,215.27 $927.84 $0.00 $928.50 $166,071.61
125 $166,071.61 $927.84 $0.00 $938.99 $167,938.44
126 $167,938.44 $927.84 $0.00 $949.55 $169,815.83
127 $169,815.83 $927.84 $0.00 $960.16 $171,703.83
128 $171,703.83 $927.84 $0.00 $970.84 $173,602.51
129 $173,602.51 $927.84 $0.00 $981.57 $175,511.92
130 $175,511.92 $927.84 $0.00 $992.37 $177,432.13
131 $177,432.13 $927.84 $0.00 $1,003.23 $179,363.20
132 $179,363.20 $927.84 $0.00 $1,014.15 $181,305.19
133 $181,305.19 $927.84 $0.00 $1,025.13 $183,258.16
134 $183,258.16 $927.84 $0.00 $1,036.17 $185,222.17
135 $185,222.17 $927.84 $0.00 $1,047.27 $187,197.28
136 $187,197.28 $927.84 $0.00 $1,058.44 $189,183.56
137 $189,183.56 $927.84 $0.00 $1,069.67 $191,181.07
138 $191,181.07 $927.84 $0.00 $1,080.97 $193,189.88
139 $193,189.88 $927.84 $0.00 $1,092.32 $195,210.04
140 $195,210.04 $927.84 $0.00 $1,103.75 $197,241.63
141 $197,241.63 $927.84 $0.00 $1,115.23 $199,284.70
142 $199,284.70 $927.84 $0.00 $1,126.78 $201,339.32
143 $201,339.32 $927.84 $0.00 $1,138.40 $203,405.56
144 $203,405.56 $927.84 $0.00 $1,150.08 $205,483.48
145 $205,483.48 $927.84 $0.00 $1,161.83 $207,573.15
146 $207,573.15 $927.84 $0.00 $1,173.65 $209,674.64
147 $209,674.64 $927.84 $0.00 $1,185.53 $211,788.01
148 $211,788.01 $927.84 $0.00 $1,197.48 $213,913.33
149 $213,913.33 $927.84 $0.00 $1,209.50 $216,050.67
150 $216,050.67 $927.84 $0.00 $1,221.58 $218,200.09
151 $218,200.09 $927.84 $0.00 $1,233.74 $220,361.67
152 $220,361.67 $927.84 $0.00 $1,245.96 $222,535.47
153 $222,535.47 $927.84 $0.00 $1,258.25 $224,721.56
154 $224,721.56 $927.84 $0.00 $1,270.61 $226,920.01
155 $226,920.01 $927.84 $0.00 $1,283.04 $229,130.89
156 $229,130.89 $927.84 $0.00 $1,295.54 $231,354.27
157 $231,354.27 $927.84 $0.00 $1,308.11 $233,590.22
158 $233,590.22 $927.84 $0.00 $1,320.75 $235,838.81
159 $235,838.81 $927.84 $0.00 $1,333.47 $238,100.12
160 $238,100.12 $927.84 $0.00 $1,346.25 $240,374.21
161 $240,374.21 $927.84 $0.00 $1,359.11 $242,661.16
162 $242,661.16 $927.84 $0.00 $1,372.04 $244,961.04
163 $244,961.04 $927.84 $0.00 $1,385.05 $247,273.93
164 $247,273.93 $927.84 $0.00 $1,398.12 $249,599.89
165 $249,599.89 $927.84 $0.00 $1,411.27 $251,939.00
166 $251,939.00 $927.84 $0.00 $1,424.50 $254,291.34
167 $254,291.34 $927.84 $0.00 $1,437.80 $256,656.98
168 $256,656.98 $927.84 $0.00 $1,451.18 $259,036.00
169 $259,036.00 $927.84 $0.00 $1,464.63 $261,428.47
170 $261,428.47 $927.84 $0.00 $1,478.15 $263,834.46
171 $263,834.46 $927.84 $0.00 $1,491.76 $266,254.06
172 $266,254.06 $927.84 $0.00 $1,505.44 $268,687.34
173 $268,687.34 $927.84 $0.00 $1,519.20 $271,134.38
174 $271,134.38 $927.84 $0.00 $1,533.03 $273,595.25
175 $273,595.25 $927.84 $0.00 $1,546.95 $276,070.04
176 $276,070.04 $927.84 $0.00 $1,560.94 $278,558.82
177 $278,558.82 $927.84 $0.00 $1,575.01 $281,061.67
178 $281,061.67 $927.84 $0.00 $1,589.16 $283,578.67
179 $283,578.67 $927.84 $0.00 $1,603.40 $286,109.91
180 $286,109.91 $927.84 $0.00 $1,617.71 $288,655.46
181 $288,655.46 $927.84 $0.00 $1,632.10 $291,215.40
182 $291,215.40 $927.84 $0.00 $1,646.57 $293,789.81
183 $293,789.81 $927.84 $0.00 $1,661.13 $296,378.78
184 $296,378.78 $927.84 $0.00 $1,675.77 $298,982.39
185 $298,982.39 $927.84 $0.00 $1,690.49 $301,600.72
186 $301,600.72 $927.84 $0.00 $1,705.29 $304,233.85
187 $304,233.85 $927.84 $0.00 $1,720.18 $306,881.87
188 $306,881.87 $927.84 $0.00 $1,735.15 $309,544.86
189 $309,544.86 $927.84 $0.00 $1,750.21 $312,222.91
190 $312,222.91 $927.84 $0.00 $1,765.35 $314,916.10
191 $314,916.10 $927.84 $0.00 $1,780.58 $317,624.52
192 $317,624.52 $927.84 $0.00 $1,795.90 $320,348.26
193 $320,348.26 $927.84 $0.00 $1,811.30 $323,087.40
194 $323,087.40 $927.84 $0.00 $1,826.78 $325,842.02
195 $325,842.02 $927.84 $0.00 $1,842.36 $328,612.22
196 $328,612.22 $927.84 $0.00 $1,858.02 $331,398.08
197 $331,398.08 $927.84 $0.00 $1,873.77 $334,199.69
198 $334,199.69 $927.84 $0.00 $1,889.61 $337,017.14
199 $337,017.14 $927.84 $0.00 $1,905.54 $339,850.52
200 $339,850.52 $927.84 $0.00 $1,921.56 $342,699.92
201 $342,699.92 $927.84 $0.00 $1,937.68 $345,565.44
202 $345,565.44 $927.84 $0.00 $1,953.88 $348,447.16
203 $348,447.16 $927.84 $0.00 $1,970.17 $351,345.17
204 $351,345.17 $927.84 $0.00 $1,986.56 $354,259.57
205 $354,259.57 $927.84 $0.00 $2,003.04 $357,190.45
206 $357,190.45 $927.84 $0.00 $2,019.61 $360,137.90
207 $360,137.90 $927.84 $0.00 $2,036.27 $363,102.01
208 $363,102.01 $927.84 $0.00 $2,053.03 $366,082.88
209 $366,082.88 $927.84 $0.00 $2,069.89 $369,080.61
210 $369,080.61 $927.84 $0.00 $2,086.84 $372,095.29
211 $372,095.29 $927.84 $0.00 $2,103.88 $375,127.01
212 $375,127.01 $927.84 $0.00 $2,121.02 $378,175.87
213 $378,175.87 $927.84 $0.00 $2,138.26 $381,241.97
214 $381,241.97 $927.84 $0.00 $2,155.60 $384,325.41
215 $384,325.41 $927.84 $0.00 $2,173.03 $387,426.28
216 $387,426.28 $927.84 $0.00 $2,190.56 $390,544.68
217 $390,544.68 $927.84 $108,779.19 $2,208.20 $284,901.53
218 $284,901.53 $927.84 $0.00 $1,610.87 $287,440.24
219 $287,440.24 $927.84 $0.00 $1,625.23 $289,993.31
220 $289,993.31 $927.84 $0.00 $1,639.66 $292,560.81
221 $292,560.81 $927.84 $0.00 $1,654.18 $295,142.83
222 $295,142.83 $927.84 $0.00 $1,668.78 $297,739.45
223 $297,739.45 $927.84 $0.00 $1,683.46 $300,350.75
224 $300,350.75 $927.84 $0.00 $1,698.23 $302,976.82
225 $302,976.82 $927.84 $0.00 $1,713.07 $305,617.73
226 $305,617.73 $927.84 $0.00 $1,728.01 $308,273.58
227 $308,273.58 $927.84 $0.00 $1,743.02 $310,944.44
228 $310,944.44 $927.84 $0.00 $1,758.13 $313,630.41
229 $313,630.41 $927.84 $114,218.15 $1,773.31 $202,113.41
230 $202,113.41 $927.84 $0.00 $1,142.78 $204,184.03
231 $204,184.03 $927.84 $0.00 $1,154.49 $206,266.36
232 $206,266.36 $927.84 $0.00 $1,166.26 $208,360.46
233 $208,360.46 $927.84 $0.00 $1,178.10 $210,466.40
234 $210,466.40 $927.84 $0.00 $1,190.01 $212,584.25
235 $212,584.25 $927.84 $0.00 $1,201.98 $214,714.07
236 $214,714.07 $927.84 $0.00 $1,214.02 $216,855.93
237 $216,855.93 $927.84 $0.00 $1,226.13 $219,009.90
238 $219,009.90 $927.84 $0.00 $1,238.31 $221,176.05
239 $221,176.05 $927.84 $0.00 $1,250.56 $223,354.45
240 $223,354.45 $927.84 $0.00 $1,262.88 $225,545.17
241 $225,545.17 $927.84 $119,929.06 $1,275.27 $107,819.22
242 $107,819.22 $927.84 $0.00 $609.63 $109,356.69
243 $109,356.69 $927.84 $0.00 $618.32 $110,902.85
244 $110,902.85 $927.84 $0.00 $627.06 $112,457.75
245 $112,457.75 $927.84 $0.00 $635.85 $114,021.44
246 $114,021.44 $927.84 $0.00 $644.69 $115,593.97
247 $115,593.97 $927.84 $0.00 $653.59 $117,175.40
248 $117,175.40 $927.84 $0.00 $662.53 $118,765.77
249 $118,765.77 $927.84 $0.00 $671.52 $120,365.13
250 $120,365.13 $927.84 $0.00 $680.56 $121,973.53
251 $121,973.53 $927.84 $0.00 $689.66 $123,591.03
252 $123,591.03 $927.84 $0.00 $698.80 $125,217.67
253 $125,217.67 $0.00 $125,925.51 $708.00 $0.16