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 2041$123,149
Monthly savings required$975

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 $492,595.31 for students enrolling in 2041 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $974.82 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$47,489.00
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 $974.82 $0.00 $0.00 $974.82
2 $974.82 $974.82 $0.00 $5.51 $1,955.15
3 $1,955.15 $974.82 $0.00 $11.05 $2,941.02
4 $2,941.02 $974.82 $0.00 $16.63 $3,932.47
5 $3,932.47 $974.82 $0.00 $22.23 $4,929.52
6 $4,929.52 $974.82 $0.00 $27.87 $5,932.21
7 $5,932.21 $974.82 $0.00 $33.54 $6,940.57
8 $6,940.57 $974.82 $0.00 $39.24 $7,954.63
9 $7,954.63 $974.82 $0.00 $44.98 $8,974.43
10 $8,974.43 $974.82 $0.00 $50.74 $9,999.99
11 $9,999.99 $974.82 $0.00 $56.54 $11,031.35
12 $11,031.35 $974.82 $0.00 $62.37 $12,068.54
13 $12,068.54 $974.82 $0.00 $68.24 $13,111.60
14 $13,111.60 $974.82 $0.00 $74.13 $14,160.55
15 $14,160.55 $974.82 $0.00 $80.07 $15,215.44
16 $15,215.44 $974.82 $0.00 $86.03 $16,276.29
17 $16,276.29 $974.82 $0.00 $92.03 $17,343.14
18 $17,343.14 $974.82 $0.00 $98.06 $18,416.02
19 $18,416.02 $974.82 $0.00 $104.13 $19,494.97
20 $19,494.97 $974.82 $0.00 $110.23 $20,580.02
21 $20,580.02 $974.82 $0.00 $116.36 $21,671.20
22 $21,671.20 $974.82 $0.00 $122.53 $22,768.55
23 $22,768.55 $974.82 $0.00 $128.74 $23,872.11
24 $23,872.11 $974.82 $0.00 $134.98 $24,981.91
25 $24,981.91 $974.82 $0.00 $141.25 $26,097.98
26 $26,097.98 $974.82 $0.00 $147.56 $27,220.36
27 $27,220.36 $974.82 $0.00 $153.91 $28,349.09
28 $28,349.09 $974.82 $0.00 $160.29 $29,484.20
29 $29,484.20 $974.82 $0.00 $166.71 $30,625.73
30 $30,625.73 $974.82 $0.00 $173.16 $31,773.71
31 $31,773.71 $974.82 $0.00 $179.65 $32,928.18
32 $32,928.18 $974.82 $0.00 $186.18 $34,089.18
33 $34,089.18 $974.82 $0.00 $192.75 $35,256.75
34 $35,256.75 $974.82 $0.00 $199.35 $36,430.92
35 $36,430.92 $974.82 $0.00 $205.99 $37,611.73
36 $37,611.73 $974.82 $0.00 $212.66 $38,799.21
37 $38,799.21 $974.82 $0.00 $219.38 $39,993.41
38 $39,993.41 $974.82 $0.00 $226.13 $41,194.36
39 $41,194.36 $974.82 $0.00 $232.92 $42,402.10
40 $42,402.10 $974.82 $0.00 $239.75 $43,616.67
41 $43,616.67 $974.82 $0.00 $246.61 $44,838.10
42 $44,838.10 $974.82 $0.00 $253.52 $46,066.44
43 $46,066.44 $974.82 $0.00 $260.47 $47,301.73
44 $47,301.73 $974.82 $0.00 $267.45 $48,544.00
45 $48,544.00 $974.82 $0.00 $274.47 $49,793.29
46 $49,793.29 $974.82 $0.00 $281.54 $51,049.65
47 $51,049.65 $974.82 $0.00 $288.64 $52,313.11
48 $52,313.11 $974.82 $0.00 $295.79 $53,583.72
49 $53,583.72 $974.82 $0.00 $302.97 $54,861.51
50 $54,861.51 $974.82 $0.00 $310.19 $56,146.52
51 $56,146.52 $974.82 $0.00 $317.46 $57,438.80
52 $57,438.80 $974.82 $0.00 $324.77 $58,738.39
53 $58,738.39 $974.82 $0.00 $332.12 $60,045.33
54 $60,045.33 $974.82 $0.00 $339.51 $61,359.66
55 $61,359.66 $974.82 $0.00 $346.94 $62,681.42
56 $62,681.42 $974.82 $0.00 $354.41 $64,010.65
57 $64,010.65 $974.82 $0.00 $361.93 $65,347.40
58 $65,347.40 $974.82 $0.00 $369.48 $66,691.70
59 $66,691.70 $974.82 $0.00 $377.08 $68,043.60
60 $68,043.60 $974.82 $0.00 $384.73 $69,403.15
61 $69,403.15 $974.82 $0.00 $392.42 $70,770.39
62 $70,770.39 $974.82 $0.00 $400.15 $72,145.36
63 $72,145.36 $974.82 $0.00 $407.92 $73,528.10
64 $73,528.10 $974.82 $0.00 $415.74 $74,918.66
65 $74,918.66 $974.82 $0.00 $423.60 $76,317.08
66 $76,317.08 $974.82 $0.00 $431.51 $77,723.41
67 $77,723.41 $974.82 $0.00 $439.46 $79,137.69
68 $79,137.69 $974.82 $0.00 $447.46 $80,559.97
69 $80,559.97 $974.82 $0.00 $455.50 $81,990.29
70 $81,990.29 $974.82 $0.00 $463.59 $83,428.70
71 $83,428.70 $974.82 $0.00 $471.72 $84,875.24
72 $84,875.24 $974.82 $0.00 $479.90 $86,329.96
73 $86,329.96 $974.82 $0.00 $488.12 $87,792.90
74 $87,792.90 $974.82 $0.00 $496.39 $89,264.11
75 $89,264.11 $974.82 $0.00 $504.71 $90,743.64
76 $90,743.64 $974.82 $0.00 $513.08 $92,231.54
77 $92,231.54 $974.82 $0.00 $521.49 $93,727.85
78 $93,727.85 $974.82 $0.00 $529.95 $95,232.62
79 $95,232.62 $974.82 $0.00 $538.46 $96,745.90
80 $96,745.90 $974.82 $0.00 $547.02 $98,267.74
81 $98,267.74 $974.82 $0.00 $555.62 $99,798.18
82 $99,798.18 $974.82 $0.00 $564.27 $101,337.27
83 $101,337.27 $974.82 $0.00 $572.98 $102,885.07
84 $102,885.07 $974.82 $0.00 $581.73 $104,441.62
85 $104,441.62 $974.82 $0.00 $590.53 $106,006.97
86 $106,006.97 $974.82 $0.00 $599.38 $107,581.17
87 $107,581.17 $974.82 $0.00 $608.28 $109,164.27
88 $109,164.27 $974.82 $0.00 $617.23 $110,756.32
89 $110,756.32 $974.82 $0.00 $626.23 $112,357.37
90 $112,357.37 $974.82 $0.00 $635.28 $113,967.47
91 $113,967.47 $974.82 $0.00 $644.39 $115,586.68
92 $115,586.68 $974.82 $0.00 $653.54 $117,215.04
93 $117,215.04 $974.82 $0.00 $662.75 $118,852.61
94 $118,852.61 $974.82 $0.00 $672.01 $120,499.44
95 $120,499.44 $974.82 $0.00 $681.32 $122,155.58
96 $122,155.58 $974.82 $0.00 $690.69 $123,821.09
97 $123,821.09 $974.82 $0.00 $700.10 $125,496.01
98 $125,496.01 $974.82 $0.00 $709.57 $127,180.40
99 $127,180.40 $974.82 $0.00 $719.10 $128,874.32
100 $128,874.32 $974.82 $0.00 $728.67 $130,577.81
101 $130,577.81 $974.82 $0.00 $738.31 $132,290.94
102 $132,290.94 $974.82 $0.00 $747.99 $134,013.75
103 $134,013.75 $974.82 $0.00 $757.73 $135,746.30
104 $135,746.30 $974.82 $0.00 $767.53 $137,488.65
105 $137,488.65 $974.82 $0.00 $777.38 $139,240.85
106 $139,240.85 $974.82 $0.00 $787.29 $141,002.96
107 $141,002.96 $974.82 $0.00 $797.25 $142,775.03
108 $142,775.03 $974.82 $0.00 $807.27 $144,557.12
109 $144,557.12 $974.82 $0.00 $817.35 $146,349.29
110 $146,349.29 $974.82 $0.00 $827.48 $148,151.59
111 $148,151.59 $974.82 $0.00 $837.67 $149,964.08
112 $149,964.08 $974.82 $0.00 $847.92 $151,786.82
113 $151,786.82 $974.82 $0.00 $858.22 $153,619.86
114 $153,619.86 $974.82 $0.00 $868.59 $155,463.27
115 $155,463.27 $974.82 $0.00 $879.01 $157,317.10
116 $157,317.10 $974.82 $0.00 $889.49 $159,181.41
117 $159,181.41 $974.82 $0.00 $900.03 $161,056.26
118 $161,056.26 $974.82 $0.00 $910.64 $162,941.72
119 $162,941.72 $974.82 $0.00 $921.30 $164,837.84
120 $164,837.84 $974.82 $0.00 $932.02 $166,744.68
121 $166,744.68 $974.82 $0.00 $942.80 $168,662.30
122 $168,662.30 $974.82 $0.00 $953.64 $170,590.76
123 $170,590.76 $974.82 $0.00 $964.54 $172,530.12
124 $172,530.12 $974.82 $0.00 $975.51 $174,480.45
125 $174,480.45 $974.82 $0.00 $986.54 $176,441.81
126 $176,441.81 $974.82 $0.00 $997.63 $178,414.26
127 $178,414.26 $974.82 $0.00 $1,008.78 $180,397.86
128 $180,397.86 $974.82 $0.00 $1,020.00 $182,392.68
129 $182,392.68 $974.82 $0.00 $1,031.27 $184,398.77
130 $184,398.77 $974.82 $0.00 $1,042.62 $186,416.21
131 $186,416.21 $974.82 $0.00 $1,054.02 $188,445.05
132 $188,445.05 $974.82 $0.00 $1,065.50 $190,485.37
133 $190,485.37 $974.82 $0.00 $1,077.03 $192,537.22
134 $192,537.22 $974.82 $0.00 $1,088.63 $194,600.67
135 $194,600.67 $974.82 $0.00 $1,100.30 $196,675.79
136 $196,675.79 $974.82 $0.00 $1,112.03 $198,762.64
137 $198,762.64 $974.82 $0.00 $1,123.83 $200,861.29
138 $200,861.29 $974.82 $0.00 $1,135.70 $202,971.81
139 $202,971.81 $974.82 $0.00 $1,147.63 $205,094.26
140 $205,094.26 $974.82 $0.00 $1,159.63 $207,228.71
141 $207,228.71 $974.82 $0.00 $1,171.70 $209,375.23
142 $209,375.23 $974.82 $0.00 $1,183.84 $211,533.89
143 $211,533.89 $974.82 $0.00 $1,196.04 $213,704.75
144 $213,704.75 $974.82 $0.00 $1,208.32 $215,887.89
145 $215,887.89 $974.82 $0.00 $1,220.66 $218,083.37
146 $218,083.37 $974.82 $0.00 $1,233.08 $220,291.27
147 $220,291.27 $974.82 $0.00 $1,245.56 $222,511.65
148 $222,511.65 $974.82 $0.00 $1,258.11 $224,744.58
149 $224,744.58 $974.82 $0.00 $1,270.74 $226,990.14
150 $226,990.14 $974.82 $0.00 $1,283.44 $229,248.40
151 $229,248.40 $974.82 $0.00 $1,296.20 $231,519.42
152 $231,519.42 $974.82 $0.00 $1,309.04 $233,803.28
153 $233,803.28 $974.82 $0.00 $1,321.96 $236,100.06
154 $236,100.06 $974.82 $0.00 $1,334.94 $238,409.82
155 $238,409.82 $974.82 $0.00 $1,348.00 $240,732.64
156 $240,732.64 $974.82 $0.00 $1,361.14 $243,068.60
157 $243,068.60 $974.82 $0.00 $1,374.35 $245,417.77
158 $245,417.77 $974.82 $0.00 $1,387.63 $247,780.22
159 $247,780.22 $974.82 $0.00 $1,400.99 $250,156.03
160 $250,156.03 $974.82 $0.00 $1,414.42 $252,545.27
161 $252,545.27 $974.82 $0.00 $1,427.93 $254,948.02
162 $254,948.02 $974.82 $0.00 $1,441.51 $257,364.35
163 $257,364.35 $974.82 $0.00 $1,455.18 $259,794.35
164 $259,794.35 $974.82 $0.00 $1,468.92 $262,238.09
165 $262,238.09 $974.82 $0.00 $1,482.73 $264,695.64
166 $264,695.64 $974.82 $0.00 $1,496.63 $267,167.09
167 $267,167.09 $974.82 $0.00 $1,510.60 $269,652.51
168 $269,652.51 $974.82 $0.00 $1,524.65 $272,151.98
169 $272,151.98 $974.82 $0.00 $1,538.79 $274,665.59
170 $274,665.59 $974.82 $0.00 $1,553.00 $277,193.41
171 $277,193.41 $974.82 $0.00 $1,567.29 $279,735.52
172 $279,735.52 $974.82 $0.00 $1,581.67 $282,292.01
173 $282,292.01 $974.82 $0.00 $1,596.12 $284,862.95
174 $284,862.95 $974.82 $0.00 $1,610.66 $287,448.43
175 $287,448.43 $974.82 $0.00 $1,625.28 $290,048.53
176 $290,048.53 $974.82 $0.00 $1,639.98 $292,663.33
177 $292,663.33 $974.82 $0.00 $1,654.76 $295,292.91
178 $295,292.91 $974.82 $0.00 $1,669.63 $297,937.36
179 $297,937.36 $974.82 $0.00 $1,684.58 $300,596.76
180 $300,596.76 $974.82 $0.00 $1,699.62 $303,271.20
181 $303,271.20 $974.82 $0.00 $1,714.74 $305,960.76
182 $305,960.76 $974.82 $0.00 $1,729.95 $308,665.53
183 $308,665.53 $974.82 $0.00 $1,745.24 $311,385.59
184 $311,385.59 $974.82 $0.00 $1,760.62 $314,121.03
185 $314,121.03 $974.82 $0.00 $1,776.09 $316,871.94
186 $316,871.94 $974.82 $0.00 $1,791.64 $319,638.40
187 $319,638.40 $974.82 $0.00 $1,807.28 $322,420.50
188 $322,420.50 $974.82 $0.00 $1,823.01 $325,218.33
189 $325,218.33 $974.82 $0.00 $1,838.83 $328,031.98
190 $328,031.98 $974.82 $0.00 $1,854.74 $330,861.54
191 $330,861.54 $974.82 $0.00 $1,870.74 $333,707.10
192 $333,707.10 $974.82 $0.00 $1,886.83 $336,568.75
193 $336,568.75 $974.82 $0.00 $1,903.01 $339,446.58
194 $339,446.58 $974.82 $0.00 $1,919.28 $342,340.68
195 $342,340.68 $974.82 $0.00 $1,935.64 $345,251.14
196 $345,251.14 $974.82 $0.00 $1,952.10 $348,178.06
197 $348,178.06 $974.82 $0.00 $1,968.65 $351,121.53
198 $351,121.53 $974.82 $0.00 $1,985.29 $354,081.64
199 $354,081.64 $974.82 $0.00 $2,002.03 $357,058.49
200 $357,058.49 $974.82 $0.00 $2,018.86 $360,052.17
201 $360,052.17 $974.82 $0.00 $2,035.79 $363,062.78
202 $363,062.78 $974.82 $0.00 $2,052.81 $366,090.41
203 $366,090.41 $974.82 $0.00 $2,069.93 $369,135.16
204 $369,135.16 $974.82 $0.00 $2,087.14 $372,197.12
205 $372,197.12 $974.82 $0.00 $2,104.46 $375,276.40
206 $375,276.40 $974.82 $0.00 $2,121.87 $378,373.09
207 $378,373.09 $974.82 $0.00 $2,139.38 $381,487.29
208 $381,487.29 $974.82 $0.00 $2,156.98 $384,619.09
209 $384,619.09 $974.82 $0.00 $2,174.69 $387,768.60
210 $387,768.60 $974.82 $0.00 $2,192.50 $390,935.92
211 $390,935.92 $974.82 $0.00 $2,210.41 $394,121.15
212 $394,121.15 $974.82 $0.00 $2,228.42 $397,324.39
213 $397,324.39 $974.82 $0.00 $2,246.53 $400,545.74
214 $400,545.74 $974.82 $0.00 $2,264.74 $403,785.30
215 $403,785.30 $974.82 $0.00 $2,283.06 $407,043.18
216 $407,043.18 $974.82 $0.00 $2,301.48 $410,319.48
217 $410,319.48 $974.82 $114,287.94 $2,320.01 $299,326.37
218 $299,326.37 $974.82 $0.00 $1,692.43 $301,993.62
219 $301,993.62 $974.82 $0.00 $1,707.52 $304,675.96
220 $304,675.96 $974.82 $0.00 $1,722.68 $307,373.46
221 $307,373.46 $974.82 $0.00 $1,737.93 $310,086.21
222 $310,086.21 $974.82 $0.00 $1,753.27 $312,814.30
223 $312,814.30 $974.82 $0.00 $1,768.70 $315,557.82
224 $315,557.82 $974.82 $0.00 $1,784.21 $318,316.85
225 $318,316.85 $974.82 $0.00 $1,799.81 $321,091.48
226 $321,091.48 $974.82 $0.00 $1,815.50 $323,881.80
227 $323,881.80 $974.82 $0.00 $1,831.27 $326,687.89
228 $326,687.89 $974.82 $0.00 $1,847.14 $329,509.85
229 $329,509.85 $974.82 $120,002.34 $1,863.10 $212,345.43
230 $212,345.43 $974.82 $0.00 $1,200.63 $214,520.88
231 $214,520.88 $974.82 $0.00 $1,212.93 $216,708.63
232 $216,708.63 $974.82 $0.00 $1,225.30 $218,908.75
233 $218,908.75 $974.82 $0.00 $1,237.74 $221,121.31
234 $221,121.31 $974.82 $0.00 $1,250.25 $223,346.38
235 $223,346.38 $974.82 $0.00 $1,262.83 $225,584.03
236 $225,584.03 $974.82 $0.00 $1,275.48 $227,834.33
237 $227,834.33 $974.82 $0.00 $1,288.21 $230,097.36
238 $230,097.36 $974.82 $0.00 $1,301.00 $232,373.18
239 $232,373.18 $974.82 $0.00 $1,313.87 $234,661.87
240 $234,661.87 $974.82 $0.00 $1,326.81 $236,963.50
241 $236,963.50 $974.82 $126,002.45 $1,339.83 $113,275.70
242 $113,275.70 $974.82 $0.00 $640.48 $114,891.00
243 $114,891.00 $974.82 $0.00 $649.61 $116,515.43
244 $116,515.43 $974.82 $0.00 $658.80 $118,149.05
245 $118,149.05 $974.82 $0.00 $668.03 $119,791.90
246 $119,791.90 $974.82 $0.00 $677.32 $121,444.04
247 $121,444.04 $974.82 $0.00 $686.66 $123,105.52
248 $123,105.52 $974.82 $0.00 $696.06 $124,776.40
249 $124,776.40 $974.82 $0.00 $705.50 $126,456.72
250 $126,456.72 $974.82 $0.00 $715.00 $128,146.54
251 $128,146.54 $974.82 $0.00 $724.56 $129,845.92
252 $129,845.92 $974.82 $0.00 $734.17 $131,554.91
253 $131,554.91 $0.00 $132,302.58 $743.83 ($3.84)