Savings Plan and Future Cost Estimation for Mars Hill University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$121,440
Monthly savings required$961

How much will it cost to send your child to Mars Hill University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $485,759.62 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $961.30 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$46,830.00
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 $961.30 $0.00 $0.00 $961.30
2 $961.30 $961.30 $0.00 $5.44 $1,928.04
3 $1,928.04 $961.30 $0.00 $10.90 $2,900.24
4 $2,900.24 $961.30 $0.00 $16.40 $3,877.94
5 $3,877.94 $961.30 $0.00 $21.93 $4,861.17
6 $4,861.17 $961.30 $0.00 $27.49 $5,849.96
7 $5,849.96 $961.30 $0.00 $33.08 $6,844.34
8 $6,844.34 $961.30 $0.00 $38.70 $7,844.34
9 $7,844.34 $961.30 $0.00 $44.35 $8,849.99
10 $8,849.99 $961.30 $0.00 $50.04 $9,861.33
11 $9,861.33 $961.30 $0.00 $55.76 $10,878.39
12 $10,878.39 $961.30 $0.00 $61.51 $11,901.20
13 $11,901.20 $961.30 $0.00 $67.29 $12,929.79
14 $12,929.79 $961.30 $0.00 $73.11 $13,964.20
15 $13,964.20 $961.30 $0.00 $78.96 $15,004.46
16 $15,004.46 $961.30 $0.00 $84.84 $16,050.60
17 $16,050.60 $961.30 $0.00 $90.75 $17,102.65
18 $17,102.65 $961.30 $0.00 $96.70 $18,160.65
19 $18,160.65 $961.30 $0.00 $102.68 $19,224.63
20 $19,224.63 $961.30 $0.00 $108.70 $20,294.63
21 $20,294.63 $961.30 $0.00 $114.75 $21,370.68
22 $21,370.68 $961.30 $0.00 $120.83 $22,452.81
23 $22,452.81 $961.30 $0.00 $126.95 $23,541.06
24 $23,541.06 $961.30 $0.00 $133.10 $24,635.46
25 $24,635.46 $961.30 $0.00 $139.29 $25,736.05
26 $25,736.05 $961.30 $0.00 $145.52 $26,842.87
27 $26,842.87 $961.30 $0.00 $151.77 $27,955.94
28 $27,955.94 $961.30 $0.00 $158.07 $29,075.31
29 $29,075.31 $961.30 $0.00 $164.40 $30,201.01
30 $30,201.01 $961.30 $0.00 $170.76 $31,333.07
31 $31,333.07 $961.30 $0.00 $177.16 $32,471.53
32 $32,471.53 $961.30 $0.00 $183.60 $33,616.43
33 $33,616.43 $961.30 $0.00 $190.07 $34,767.80
34 $34,767.80 $961.30 $0.00 $196.58 $35,925.68
35 $35,925.68 $961.30 $0.00 $203.13 $37,090.11
36 $37,090.11 $961.30 $0.00 $209.71 $38,261.12
37 $38,261.12 $961.30 $0.00 $216.33 $39,438.75
38 $39,438.75 $961.30 $0.00 $222.99 $40,623.04
39 $40,623.04 $961.30 $0.00 $229.69 $41,814.03
40 $41,814.03 $961.30 $0.00 $236.42 $43,011.75
41 $43,011.75 $961.30 $0.00 $243.19 $44,216.24
42 $44,216.24 $961.30 $0.00 $250.01 $45,427.55
43 $45,427.55 $961.30 $0.00 $256.85 $46,645.70
44 $46,645.70 $961.30 $0.00 $263.74 $47,870.74
45 $47,870.74 $961.30 $0.00 $270.67 $49,102.71
46 $49,102.71 $961.30 $0.00 $277.63 $50,341.64
47 $50,341.64 $961.30 $0.00 $284.64 $51,587.58
48 $51,587.58 $961.30 $0.00 $291.68 $52,840.56
49 $52,840.56 $961.30 $0.00 $298.77 $54,100.63
50 $54,100.63 $961.30 $0.00 $305.89 $55,367.82
51 $55,367.82 $961.30 $0.00 $313.06 $56,642.18
52 $56,642.18 $961.30 $0.00 $320.26 $57,923.74
53 $57,923.74 $961.30 $0.00 $327.51 $59,212.55
54 $59,212.55 $961.30 $0.00 $334.80 $60,508.65
55 $60,508.65 $961.30 $0.00 $342.12 $61,812.07
56 $61,812.07 $961.30 $0.00 $349.49 $63,122.86
57 $63,122.86 $961.30 $0.00 $356.91 $64,441.07
58 $64,441.07 $961.30 $0.00 $364.36 $65,766.73
59 $65,766.73 $961.30 $0.00 $371.85 $67,099.88
60 $67,099.88 $961.30 $0.00 $379.39 $68,440.57
61 $68,440.57 $961.30 $0.00 $386.97 $69,788.84
62 $69,788.84 $961.30 $0.00 $394.60 $71,144.74
63 $71,144.74 $961.30 $0.00 $402.26 $72,508.30
64 $72,508.30 $961.30 $0.00 $409.97 $73,879.57
65 $73,879.57 $961.30 $0.00 $417.73 $75,258.60
66 $75,258.60 $961.30 $0.00 $425.52 $76,645.42
67 $76,645.42 $961.30 $0.00 $433.36 $78,040.08
68 $78,040.08 $961.30 $0.00 $441.25 $79,442.63
69 $79,442.63 $961.30 $0.00 $449.18 $80,853.11
70 $80,853.11 $961.30 $0.00 $457.16 $82,271.57
71 $82,271.57 $961.30 $0.00 $465.18 $83,698.05
72 $83,698.05 $961.30 $0.00 $473.24 $85,132.59
73 $85,132.59 $961.30 $0.00 $481.35 $86,575.24
74 $86,575.24 $961.30 $0.00 $489.51 $88,026.05
75 $88,026.05 $961.30 $0.00 $497.71 $89,485.06
76 $89,485.06 $961.30 $0.00 $505.96 $90,952.32
77 $90,952.32 $961.30 $0.00 $514.26 $92,427.88
78 $92,427.88 $961.30 $0.00 $522.60 $93,911.78
79 $93,911.78 $961.30 $0.00 $530.99 $95,404.07
80 $95,404.07 $961.30 $0.00 $539.43 $96,904.80
81 $96,904.80 $961.30 $0.00 $547.91 $98,414.01
82 $98,414.01 $961.30 $0.00 $556.45 $99,931.76
83 $99,931.76 $961.30 $0.00 $565.03 $101,458.09
84 $101,458.09 $961.30 $0.00 $573.66 $102,993.05
85 $102,993.05 $961.30 $0.00 $582.34 $104,536.69
86 $104,536.69 $961.30 $0.00 $591.07 $106,089.06
87 $106,089.06 $961.30 $0.00 $599.84 $107,650.20
88 $107,650.20 $961.30 $0.00 $608.67 $109,220.17
89 $109,220.17 $961.30 $0.00 $617.55 $110,799.02
90 $110,799.02 $961.30 $0.00 $626.47 $112,386.79
91 $112,386.79 $961.30 $0.00 $635.45 $113,983.54
92 $113,983.54 $961.30 $0.00 $644.48 $115,589.32
93 $115,589.32 $961.30 $0.00 $653.56 $117,204.18
94 $117,204.18 $961.30 $0.00 $662.69 $118,828.17
95 $118,828.17 $961.30 $0.00 $671.87 $120,461.34
96 $120,461.34 $961.30 $0.00 $681.11 $122,103.75
97 $122,103.75 $961.30 $0.00 $690.39 $123,755.44
98 $123,755.44 $961.30 $0.00 $699.73 $125,416.47
99 $125,416.47 $961.30 $0.00 $709.12 $127,086.89
100 $127,086.89 $961.30 $0.00 $718.57 $128,766.76
101 $128,766.76 $961.30 $0.00 $728.07 $130,456.13
102 $130,456.13 $961.30 $0.00 $737.62 $132,155.05
103 $132,155.05 $961.30 $0.00 $747.22 $133,863.57
104 $133,863.57 $961.30 $0.00 $756.88 $135,581.75
105 $135,581.75 $961.30 $0.00 $766.60 $137,309.65
106 $137,309.65 $961.30 $0.00 $776.37 $139,047.32
107 $139,047.32 $961.30 $0.00 $786.19 $140,794.81
108 $140,794.81 $961.30 $0.00 $796.07 $142,552.18
109 $142,552.18 $961.30 $0.00 $806.01 $144,319.49
110 $144,319.49 $961.30 $0.00 $816.00 $146,096.79
111 $146,096.79 $961.30 $0.00 $826.05 $147,884.14
112 $147,884.14 $961.30 $0.00 $836.16 $149,681.60
113 $149,681.60 $961.30 $0.00 $846.32 $151,489.22
114 $151,489.22 $961.30 $0.00 $856.54 $153,307.06
115 $153,307.06 $961.30 $0.00 $866.82 $155,135.18
116 $155,135.18 $961.30 $0.00 $877.16 $156,973.64
117 $156,973.64 $961.30 $0.00 $887.55 $158,822.49
118 $158,822.49 $961.30 $0.00 $898.01 $160,681.80
119 $160,681.80 $961.30 $0.00 $908.52 $162,551.62
120 $162,551.62 $961.30 $0.00 $919.09 $164,432.01
121 $164,432.01 $961.30 $0.00 $929.72 $166,323.03
122 $166,323.03 $961.30 $0.00 $940.41 $168,224.74
123 $168,224.74 $961.30 $0.00 $951.17 $170,137.21
124 $170,137.21 $961.30 $0.00 $961.98 $172,060.49
125 $172,060.49 $961.30 $0.00 $972.86 $173,994.65
126 $173,994.65 $961.30 $0.00 $983.79 $175,939.74
127 $175,939.74 $961.30 $0.00 $994.79 $177,895.83
128 $177,895.83 $961.30 $0.00 $1,005.85 $179,862.98
129 $179,862.98 $961.30 $0.00 $1,016.97 $181,841.25
130 $181,841.25 $961.30 $0.00 $1,028.16 $183,830.71
131 $183,830.71 $961.30 $0.00 $1,039.41 $185,831.42
132 $185,831.42 $961.30 $0.00 $1,050.72 $187,843.44
133 $187,843.44 $961.30 $0.00 $1,062.09 $189,866.83
134 $189,866.83 $961.30 $0.00 $1,073.53 $191,901.66
135 $191,901.66 $961.30 $0.00 $1,085.04 $193,948.00
136 $193,948.00 $961.30 $0.00 $1,096.61 $196,005.91
137 $196,005.91 $961.30 $0.00 $1,108.25 $198,075.46
138 $198,075.46 $961.30 $0.00 $1,119.95 $200,156.71
139 $200,156.71 $961.30 $0.00 $1,131.72 $202,249.73
140 $202,249.73 $961.30 $0.00 $1,143.55 $204,354.58
141 $204,354.58 $961.30 $0.00 $1,155.45 $206,471.33
142 $206,471.33 $961.30 $0.00 $1,167.42 $208,600.05
143 $208,600.05 $961.30 $0.00 $1,179.46 $210,740.81
144 $210,740.81 $961.30 $0.00 $1,191.56 $212,893.67
145 $212,893.67 $961.30 $0.00 $1,203.73 $215,058.70
146 $215,058.70 $961.30 $0.00 $1,215.97 $217,235.97
147 $217,235.97 $961.30 $0.00 $1,228.28 $219,425.55
148 $219,425.55 $961.30 $0.00 $1,240.66 $221,627.51
149 $221,627.51 $961.30 $0.00 $1,253.11 $223,841.92
150 $223,841.92 $961.30 $0.00 $1,265.63 $226,068.85
151 $226,068.85 $961.30 $0.00 $1,278.23 $228,308.38
152 $228,308.38 $961.30 $0.00 $1,290.89 $230,560.57
153 $230,560.57 $961.30 $0.00 $1,303.62 $232,825.49
154 $232,825.49 $961.30 $0.00 $1,316.43 $235,103.22
155 $235,103.22 $961.30 $0.00 $1,329.31 $237,393.83
156 $237,393.83 $961.30 $0.00 $1,342.26 $239,697.39
157 $239,697.39 $961.30 $0.00 $1,355.28 $242,013.97
158 $242,013.97 $961.30 $0.00 $1,368.38 $244,343.65
159 $244,343.65 $961.30 $0.00 $1,381.55 $246,686.50
160 $246,686.50 $961.30 $0.00 $1,394.80 $249,042.60
161 $249,042.60 $961.30 $0.00 $1,408.12 $251,412.02
162 $251,412.02 $961.30 $0.00 $1,421.52 $253,794.84
163 $253,794.84 $961.30 $0.00 $1,434.99 $256,191.13
164 $256,191.13 $961.30 $0.00 $1,448.54 $258,600.97
165 $258,600.97 $961.30 $0.00 $1,462.17 $261,024.44
166 $261,024.44 $961.30 $0.00 $1,475.87 $263,461.61
167 $263,461.61 $961.30 $0.00 $1,489.65 $265,912.56
168 $265,912.56 $961.30 $0.00 $1,503.51 $268,377.37
169 $268,377.37 $961.30 $0.00 $1,517.44 $270,856.11
170 $270,856.11 $961.30 $0.00 $1,531.46 $273,348.87
171 $273,348.87 $961.30 $0.00 $1,545.55 $275,855.72
172 $275,855.72 $961.30 $0.00 $1,559.73 $278,376.75
173 $278,376.75 $961.30 $0.00 $1,573.98 $280,912.03
174 $280,912.03 $961.30 $0.00 $1,588.32 $283,461.65
175 $283,461.65 $961.30 $0.00 $1,602.73 $286,025.68
176 $286,025.68 $961.30 $0.00 $1,617.23 $288,604.21
177 $288,604.21 $961.30 $0.00 $1,631.81 $291,197.32
178 $291,197.32 $961.30 $0.00 $1,646.47 $293,805.09
179 $293,805.09 $961.30 $0.00 $1,661.22 $296,427.61
180 $296,427.61 $961.30 $0.00 $1,676.04 $299,064.95
181 $299,064.95 $961.30 $0.00 $1,690.96 $301,717.21
182 $301,717.21 $961.30 $0.00 $1,705.95 $304,384.46
183 $304,384.46 $961.30 $0.00 $1,721.03 $307,066.79
184 $307,066.79 $961.30 $0.00 $1,736.20 $309,764.29
185 $309,764.29 $961.30 $0.00 $1,751.45 $312,477.04
186 $312,477.04 $961.30 $0.00 $1,766.79 $315,205.13
187 $315,205.13 $961.30 $0.00 $1,782.22 $317,948.65
188 $317,948.65 $961.30 $0.00 $1,797.73 $320,707.68
189 $320,707.68 $961.30 $0.00 $1,813.33 $323,482.31
190 $323,482.31 $961.30 $0.00 $1,829.02 $326,272.63
191 $326,272.63 $961.30 $0.00 $1,844.79 $329,078.72
192 $329,078.72 $961.30 $0.00 $1,860.66 $331,900.68
193 $331,900.68 $961.30 $0.00 $1,876.61 $334,738.59
194 $334,738.59 $961.30 $0.00 $1,892.66 $337,592.55
195 $337,592.55 $961.30 $0.00 $1,908.80 $340,462.65
196 $340,462.65 $961.30 $0.00 $1,925.03 $343,348.98
197 $343,348.98 $961.30 $0.00 $1,941.35 $346,251.63
198 $346,251.63 $961.30 $0.00 $1,957.76 $349,170.69
199 $349,170.69 $961.30 $0.00 $1,974.26 $352,106.25
200 $352,106.25 $961.30 $0.00 $1,990.86 $355,058.41
201 $355,058.41 $961.30 $0.00 $2,007.55 $358,027.26
202 $358,027.26 $961.30 $0.00 $2,024.34 $361,012.90
203 $361,012.90 $961.30 $0.00 $2,041.22 $364,015.42
204 $364,015.42 $961.30 $0.00 $2,058.20 $367,034.92
205 $367,034.92 $961.30 $0.00 $2,075.27 $370,071.49
206 $370,071.49 $961.30 $0.00 $2,092.44 $373,125.23
207 $373,125.23 $961.30 $0.00 $2,109.70 $376,196.23
208 $376,196.23 $961.30 $0.00 $2,127.07 $379,284.60
209 $379,284.60 $961.30 $0.00 $2,144.53 $382,390.43
210 $382,390.43 $961.30 $0.00 $2,162.09 $385,513.82
211 $385,513.82 $961.30 $0.00 $2,179.75 $388,654.87
212 $388,654.87 $961.30 $0.00 $2,197.51 $391,813.68
213 $391,813.68 $961.30 $0.00 $2,215.37 $394,990.35
214 $394,990.35 $961.30 $0.00 $2,233.33 $398,184.98
215 $398,184.98 $961.30 $0.00 $2,251.40 $401,397.68
216 $401,397.68 $961.30 $0.00 $2,269.56 $404,628.54
217 $404,628.54 $961.30 $112,701.98 $2,287.83 $295,175.69
218 $295,175.69 $961.30 $0.00 $1,668.97 $297,805.96
219 $297,805.96 $961.30 $0.00 $1,683.84 $300,451.10
220 $300,451.10 $961.30 $0.00 $1,698.79 $303,111.19
221 $303,111.19 $961.30 $0.00 $1,713.83 $305,786.32
222 $305,786.32 $961.30 $0.00 $1,728.96 $308,476.58
223 $308,476.58 $961.30 $0.00 $1,744.17 $311,182.05
224 $311,182.05 $961.30 $0.00 $1,759.47 $313,902.82
225 $313,902.82 $961.30 $0.00 $1,774.85 $316,638.97
226 $316,638.97 $961.30 $0.00 $1,790.32 $319,390.59
227 $319,390.59 $961.30 $0.00 $1,805.88 $322,157.77
228 $322,157.77 $961.30 $0.00 $1,821.53 $324,940.60
229 $324,940.60 $961.30 $118,337.08 $1,837.26 $209,402.08
230 $209,402.08 $961.30 $0.00 $1,183.99 $211,547.37
231 $211,547.37 $961.30 $0.00 $1,196.12 $213,704.79
232 $213,704.79 $961.30 $0.00 $1,208.32 $215,874.41
233 $215,874.41 $961.30 $0.00 $1,220.59 $218,056.30
234 $218,056.30 $961.30 $0.00 $1,232.92 $220,250.52
235 $220,250.52 $961.30 $0.00 $1,245.33 $222,457.15
236 $222,457.15 $961.30 $0.00 $1,257.81 $224,676.26
237 $224,676.26 $961.30 $0.00 $1,270.35 $226,907.91
238 $226,907.91 $961.30 $0.00 $1,282.97 $229,152.18
239 $229,152.18 $961.30 $0.00 $1,295.66 $231,409.14
240 $231,409.14 $961.30 $0.00 $1,308.42 $233,678.86
241 $233,678.86 $961.30 $124,253.93 $1,321.25 $111,707.48
242 $111,707.48 $961.30 $0.00 $631.61 $113,300.39
243 $113,300.39 $961.30 $0.00 $640.62 $114,902.31
244 $114,902.31 $961.30 $0.00 $649.67 $116,513.28
245 $116,513.28 $961.30 $0.00 $658.78 $118,133.36
246 $118,133.36 $961.30 $0.00 $667.94 $119,762.60
247 $119,762.60 $961.30 $0.00 $677.16 $121,401.06
248 $121,401.06 $961.30 $0.00 $686.42 $123,048.78
249 $123,048.78 $961.30 $0.00 $695.74 $124,705.82
250 $124,705.82 $961.30 $0.00 $705.10 $126,372.22
251 $126,372.22 $961.30 $0.00 $714.53 $128,048.05
252 $128,048.05 $961.30 $0.00 $724.00 $129,733.35
253 $129,733.35 $0.00 $130,466.63 $733.53 $0.25