Savings Plan and Future Cost Estimation for Methodist University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$151,604
Monthly savings required$1,200

How much will it cost to send your child to Methodist University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $606,416.37 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,200.07 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$58,462.00
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 $1,200.07 $0.00 $0.00 $1,200.07
2 $1,200.07 $1,200.07 $0.00 $6.79 $2,406.93
3 $2,406.93 $1,200.07 $0.00 $13.61 $3,620.61
4 $3,620.61 $1,200.07 $0.00 $20.47 $4,841.15
5 $4,841.15 $1,200.07 $0.00 $27.37 $6,068.59
6 $6,068.59 $1,200.07 $0.00 $34.31 $7,302.97
7 $7,302.97 $1,200.07 $0.00 $41.29 $8,544.33
8 $8,544.33 $1,200.07 $0.00 $48.31 $9,792.71
9 $9,792.71 $1,200.07 $0.00 $55.37 $11,048.15
10 $11,048.15 $1,200.07 $0.00 $62.47 $12,310.69
11 $12,310.69 $1,200.07 $0.00 $69.61 $13,580.37
12 $13,580.37 $1,200.07 $0.00 $76.79 $14,857.23
13 $14,857.23 $1,200.07 $0.00 $84.00 $16,141.30
14 $16,141.30 $1,200.07 $0.00 $91.27 $17,432.64
15 $17,432.64 $1,200.07 $0.00 $98.57 $18,731.28
16 $18,731.28 $1,200.07 $0.00 $105.91 $20,037.26
17 $20,037.26 $1,200.07 $0.00 $113.29 $21,350.62
18 $21,350.62 $1,200.07 $0.00 $120.72 $22,671.41
19 $22,671.41 $1,200.07 $0.00 $128.19 $23,999.67
20 $23,999.67 $1,200.07 $0.00 $135.70 $25,335.44
21 $25,335.44 $1,200.07 $0.00 $143.25 $26,678.76
22 $26,678.76 $1,200.07 $0.00 $150.85 $28,029.68
23 $28,029.68 $1,200.07 $0.00 $158.48 $29,388.23
24 $29,388.23 $1,200.07 $0.00 $166.17 $30,754.47
25 $30,754.47 $1,200.07 $0.00 $173.89 $32,128.43
26 $32,128.43 $1,200.07 $0.00 $181.66 $33,510.16
27 $33,510.16 $1,200.07 $0.00 $189.47 $34,899.70
28 $34,899.70 $1,200.07 $0.00 $197.33 $36,297.10
29 $36,297.10 $1,200.07 $0.00 $205.23 $37,702.40
30 $37,702.40 $1,200.07 $0.00 $213.17 $39,115.64
31 $39,115.64 $1,200.07 $0.00 $221.17 $40,536.88
32 $40,536.88 $1,200.07 $0.00 $229.20 $41,966.15
33 $41,966.15 $1,200.07 $0.00 $237.28 $43,403.50
34 $43,403.50 $1,200.07 $0.00 $245.41 $44,848.98
35 $44,848.98 $1,200.07 $0.00 $253.58 $46,302.63
36 $46,302.63 $1,200.07 $0.00 $261.80 $47,764.50
37 $47,764.50 $1,200.07 $0.00 $270.07 $49,234.64
38 $49,234.64 $1,200.07 $0.00 $278.38 $50,713.09
39 $50,713.09 $1,200.07 $0.00 $286.74 $52,199.90
40 $52,199.90 $1,200.07 $0.00 $295.15 $53,695.12
41 $53,695.12 $1,200.07 $0.00 $303.60 $55,198.79
42 $55,198.79 $1,200.07 $0.00 $312.10 $56,710.96
43 $56,710.96 $1,200.07 $0.00 $320.65 $58,231.68
44 $58,231.68 $1,200.07 $0.00 $329.25 $59,761.00
45 $59,761.00 $1,200.07 $0.00 $337.90 $61,298.97
46 $61,298.97 $1,200.07 $0.00 $346.59 $62,845.63
47 $62,845.63 $1,200.07 $0.00 $355.34 $64,401.04
48 $64,401.04 $1,200.07 $0.00 $364.13 $65,965.24
49 $65,965.24 $1,200.07 $0.00 $372.98 $67,538.29
50 $67,538.29 $1,200.07 $0.00 $381.87 $69,120.23
51 $69,120.23 $1,200.07 $0.00 $390.82 $70,711.12
52 $70,711.12 $1,200.07 $0.00 $399.81 $72,311.00
53 $72,311.00 $1,200.07 $0.00 $408.86 $73,919.93
54 $73,919.93 $1,200.07 $0.00 $417.95 $75,537.95
55 $75,537.95 $1,200.07 $0.00 $427.10 $77,165.12
56 $77,165.12 $1,200.07 $0.00 $436.30 $78,801.49
57 $78,801.49 $1,200.07 $0.00 $445.56 $80,447.12
58 $80,447.12 $1,200.07 $0.00 $454.86 $82,102.05
59 $82,102.05 $1,200.07 $0.00 $464.22 $83,766.34
60 $83,766.34 $1,200.07 $0.00 $473.63 $85,440.04
61 $85,440.04 $1,200.07 $0.00 $483.09 $87,123.20
62 $87,123.20 $1,200.07 $0.00 $492.61 $88,815.88
63 $88,815.88 $1,200.07 $0.00 $502.18 $90,518.13
64 $90,518.13 $1,200.07 $0.00 $511.80 $92,230.00
65 $92,230.00 $1,200.07 $0.00 $521.48 $93,951.55
66 $93,951.55 $1,200.07 $0.00 $531.22 $95,682.84
67 $95,682.84 $1,200.07 $0.00 $541.00 $97,423.91
68 $97,423.91 $1,200.07 $0.00 $550.85 $99,174.83
69 $99,174.83 $1,200.07 $0.00 $560.75 $100,935.65
70 $100,935.65 $1,200.07 $0.00 $570.70 $102,706.42
71 $102,706.42 $1,200.07 $0.00 $580.72 $104,487.21
72 $104,487.21 $1,200.07 $0.00 $590.79 $106,278.07
73 $106,278.07 $1,200.07 $0.00 $600.91 $108,079.05
74 $108,079.05 $1,200.07 $0.00 $611.09 $109,890.21
75 $109,890.21 $1,200.07 $0.00 $621.34 $111,711.62
76 $111,711.62 $1,200.07 $0.00 $631.63 $113,543.32
77 $113,543.32 $1,200.07 $0.00 $641.99 $115,385.38
78 $115,385.38 $1,200.07 $0.00 $652.41 $117,237.86
79 $117,237.86 $1,200.07 $0.00 $662.88 $119,100.81
80 $119,100.81 $1,200.07 $0.00 $673.41 $120,974.29
81 $120,974.29 $1,200.07 $0.00 $684.01 $122,858.37
82 $122,858.37 $1,200.07 $0.00 $694.66 $124,753.10
83 $124,753.10 $1,200.07 $0.00 $705.37 $126,658.54
84 $126,658.54 $1,200.07 $0.00 $716.15 $128,574.76
85 $128,574.76 $1,200.07 $0.00 $726.98 $130,501.81
86 $130,501.81 $1,200.07 $0.00 $737.88 $132,439.76
87 $132,439.76 $1,200.07 $0.00 $748.83 $134,388.66
88 $134,388.66 $1,200.07 $0.00 $759.85 $136,348.58
89 $136,348.58 $1,200.07 $0.00 $770.93 $138,319.58
90 $138,319.58 $1,200.07 $0.00 $782.08 $140,301.73
91 $140,301.73 $1,200.07 $0.00 $793.29 $142,295.09
92 $142,295.09 $1,200.07 $0.00 $804.56 $144,299.72
93 $144,299.72 $1,200.07 $0.00 $815.89 $146,315.68
94 $146,315.68 $1,200.07 $0.00 $827.29 $148,343.04
95 $148,343.04 $1,200.07 $0.00 $838.75 $150,381.86
96 $150,381.86 $1,200.07 $0.00 $850.28 $152,432.21
97 $152,432.21 $1,200.07 $0.00 $861.87 $154,494.15
98 $154,494.15 $1,200.07 $0.00 $873.53 $156,567.75
99 $156,567.75 $1,200.07 $0.00 $885.26 $158,653.08
100 $158,653.08 $1,200.07 $0.00 $897.05 $160,750.20
101 $160,750.20 $1,200.07 $0.00 $908.91 $162,859.18
102 $162,859.18 $1,200.07 $0.00 $920.83 $164,980.08
103 $164,980.08 $1,200.07 $0.00 $932.82 $167,112.97
104 $167,112.97 $1,200.07 $0.00 $944.88 $169,257.92
105 $169,257.92 $1,200.07 $0.00 $957.01 $171,415.00
106 $171,415.00 $1,200.07 $0.00 $969.21 $173,584.28
107 $173,584.28 $1,200.07 $0.00 $981.47 $175,765.82
108 $175,765.82 $1,200.07 $0.00 $993.81 $177,959.70
109 $177,959.70 $1,200.07 $0.00 $1,006.21 $180,165.98
110 $180,165.98 $1,200.07 $0.00 $1,018.68 $182,384.73
111 $182,384.73 $1,200.07 $0.00 $1,031.23 $184,616.03
112 $184,616.03 $1,200.07 $0.00 $1,043.85 $186,859.95
113 $186,859.95 $1,200.07 $0.00 $1,056.53 $189,116.55
114 $189,116.55 $1,200.07 $0.00 $1,069.29 $191,385.91
115 $191,385.91 $1,200.07 $0.00 $1,082.12 $193,668.10
116 $193,668.10 $1,200.07 $0.00 $1,095.03 $195,963.20
117 $195,963.20 $1,200.07 $0.00 $1,108.00 $198,271.27
118 $198,271.27 $1,200.07 $0.00 $1,121.05 $200,592.39
119 $200,592.39 $1,200.07 $0.00 $1,134.18 $202,926.64
120 $202,926.64 $1,200.07 $0.00 $1,147.38 $205,274.09
121 $205,274.09 $1,200.07 $0.00 $1,160.65 $207,634.81
122 $207,634.81 $1,200.07 $0.00 $1,174.00 $210,008.88
123 $210,008.88 $1,200.07 $0.00 $1,187.42 $212,396.37
124 $212,396.37 $1,200.07 $0.00 $1,200.92 $214,797.36
125 $214,797.36 $1,200.07 $0.00 $1,214.50 $217,211.93
126 $217,211.93 $1,200.07 $0.00 $1,228.15 $219,640.15
127 $219,640.15 $1,200.07 $0.00 $1,241.88 $222,082.10
128 $222,082.10 $1,200.07 $0.00 $1,255.68 $224,537.85
129 $224,537.85 $1,200.07 $0.00 $1,269.57 $227,007.49
130 $227,007.49 $1,200.07 $0.00 $1,283.53 $229,491.09
131 $229,491.09 $1,200.07 $0.00 $1,297.58 $231,988.74
132 $231,988.74 $1,200.07 $0.00 $1,311.70 $234,500.51
133 $234,500.51 $1,200.07 $0.00 $1,325.90 $237,026.48
134 $237,026.48 $1,200.07 $0.00 $1,340.18 $239,566.73
135 $239,566.73 $1,200.07 $0.00 $1,354.55 $242,121.35
136 $242,121.35 $1,200.07 $0.00 $1,368.99 $244,690.41
137 $244,690.41 $1,200.07 $0.00 $1,383.52 $247,274.00
138 $247,274.00 $1,200.07 $0.00 $1,398.12 $249,872.19
139 $249,872.19 $1,200.07 $0.00 $1,412.81 $252,485.07
140 $252,485.07 $1,200.07 $0.00 $1,427.59 $255,112.73
141 $255,112.73 $1,200.07 $0.00 $1,442.44 $257,755.24
142 $257,755.24 $1,200.07 $0.00 $1,457.39 $260,412.70
143 $260,412.70 $1,200.07 $0.00 $1,472.41 $263,085.18
144 $263,085.18 $1,200.07 $0.00 $1,487.52 $265,772.77
145 $265,772.77 $1,200.07 $0.00 $1,502.72 $268,475.56
146 $268,475.56 $1,200.07 $0.00 $1,518.00 $271,193.63
147 $271,193.63 $1,200.07 $0.00 $1,533.37 $273,927.07
148 $273,927.07 $1,200.07 $0.00 $1,548.82 $276,675.96
149 $276,675.96 $1,200.07 $0.00 $1,564.37 $279,440.40
150 $279,440.40 $1,200.07 $0.00 $1,580.00 $282,220.47
151 $282,220.47 $1,200.07 $0.00 $1,595.72 $285,016.26
152 $285,016.26 $1,200.07 $0.00 $1,611.52 $287,827.85
153 $287,827.85 $1,200.07 $0.00 $1,627.42 $290,655.34
154 $290,655.34 $1,200.07 $0.00 $1,643.41 $293,498.82
155 $293,498.82 $1,200.07 $0.00 $1,659.48 $296,358.37
156 $296,358.37 $1,200.07 $0.00 $1,675.65 $299,234.09
157 $299,234.09 $1,200.07 $0.00 $1,691.91 $302,126.07
158 $302,126.07 $1,200.07 $0.00 $1,708.26 $305,034.40
159 $305,034.40 $1,200.07 $0.00 $1,724.71 $307,959.18
160 $307,959.18 $1,200.07 $0.00 $1,741.25 $310,900.50
161 $310,900.50 $1,200.07 $0.00 $1,757.88 $313,858.45
162 $313,858.45 $1,200.07 $0.00 $1,774.60 $316,833.12
163 $316,833.12 $1,200.07 $0.00 $1,791.42 $319,824.61
164 $319,824.61 $1,200.07 $0.00 $1,808.33 $322,833.01
165 $322,833.01 $1,200.07 $0.00 $1,825.34 $325,858.42
166 $325,858.42 $1,200.07 $0.00 $1,842.45 $328,900.94
167 $328,900.94 $1,200.07 $0.00 $1,859.65 $331,960.66
168 $331,960.66 $1,200.07 $0.00 $1,876.95 $335,037.68
169 $335,037.68 $1,200.07 $0.00 $1,894.35 $338,132.10
170 $338,132.10 $1,200.07 $0.00 $1,911.85 $341,244.02
171 $341,244.02 $1,200.07 $0.00 $1,929.44 $344,373.53
172 $344,373.53 $1,200.07 $0.00 $1,947.14 $347,520.74
173 $347,520.74 $1,200.07 $0.00 $1,964.93 $350,685.74
174 $350,685.74 $1,200.07 $0.00 $1,982.83 $353,868.64
175 $353,868.64 $1,200.07 $0.00 $2,000.82 $357,069.53
176 $357,069.53 $1,200.07 $0.00 $2,018.92 $360,288.52
177 $360,288.52 $1,200.07 $0.00 $2,037.12 $363,525.71
178 $363,525.71 $1,200.07 $0.00 $2,055.43 $366,781.21
179 $366,781.21 $1,200.07 $0.00 $2,073.83 $370,055.11
180 $370,055.11 $1,200.07 $0.00 $2,092.35 $373,347.53
181 $373,347.53 $1,200.07 $0.00 $2,110.96 $376,658.56
182 $376,658.56 $1,200.07 $0.00 $2,129.68 $379,988.31
183 $379,988.31 $1,200.07 $0.00 $2,148.51 $383,336.89
184 $383,336.89 $1,200.07 $0.00 $2,167.44 $386,704.40
185 $386,704.40 $1,200.07 $0.00 $2,186.48 $390,090.95
186 $390,090.95 $1,200.07 $0.00 $2,205.63 $393,496.65
187 $393,496.65 $1,200.07 $0.00 $2,224.89 $396,921.61
188 $396,921.61 $1,200.07 $0.00 $2,244.25 $400,365.93
189 $400,365.93 $1,200.07 $0.00 $2,263.73 $403,829.73
190 $403,829.73 $1,200.07 $0.00 $2,283.31 $407,313.11
191 $407,313.11 $1,200.07 $0.00 $2,303.01 $410,816.19
192 $410,816.19 $1,200.07 $0.00 $2,322.81 $414,339.07
193 $414,339.07 $1,200.07 $0.00 $2,342.73 $417,881.87
194 $417,881.87 $1,200.07 $0.00 $2,362.76 $421,444.70
195 $421,444.70 $1,200.07 $0.00 $2,382.91 $425,027.68
196 $425,027.68 $1,200.07 $0.00 $2,403.17 $428,630.92
197 $428,630.92 $1,200.07 $0.00 $2,423.54 $432,254.53
198 $432,254.53 $1,200.07 $0.00 $2,444.03 $435,898.63
199 $435,898.63 $1,200.07 $0.00 $2,464.63 $439,563.33
200 $439,563.33 $1,200.07 $0.00 $2,485.35 $443,248.75
201 $443,248.75 $1,200.07 $0.00 $2,506.19 $446,955.01
202 $446,955.01 $1,200.07 $0.00 $2,527.15 $450,682.23
203 $450,682.23 $1,200.07 $0.00 $2,548.22 $454,430.52
204 $454,430.52 $1,200.07 $0.00 $2,569.42 $458,200.01
205 $458,200.01 $1,200.07 $0.00 $2,590.73 $461,990.81
206 $461,990.81 $1,200.07 $0.00 $2,612.16 $465,803.04
207 $465,803.04 $1,200.07 $0.00 $2,633.72 $469,636.83
208 $469,636.83 $1,200.07 $0.00 $2,655.39 $473,492.29
209 $473,492.29 $1,200.07 $0.00 $2,677.19 $477,369.55
210 $477,369.55 $1,200.07 $0.00 $2,699.12 $481,268.74
211 $481,268.74 $1,200.07 $0.00 $2,721.16 $485,189.97
212 $485,189.97 $1,200.07 $0.00 $2,743.33 $489,133.37
213 $489,133.37 $1,200.07 $0.00 $2,765.63 $493,099.07
214 $493,099.07 $1,200.07 $0.00 $2,788.05 $497,087.19
215 $497,087.19 $1,200.07 $0.00 $2,810.60 $501,097.86
216 $501,097.86 $1,200.07 $0.00 $2,833.28 $505,131.21
217 $505,131.21 $1,200.07 $140,695.77 $2,856.09 $368,491.60
218 $368,491.60 $1,200.07 $0.00 $2,083.51 $371,775.18
219 $371,775.18 $1,200.07 $0.00 $2,102.07 $375,077.32
220 $375,077.32 $1,200.07 $0.00 $2,120.74 $378,398.13
221 $378,398.13 $1,200.07 $0.00 $2,139.52 $381,737.72
222 $381,737.72 $1,200.07 $0.00 $2,158.40 $385,096.19
223 $385,096.19 $1,200.07 $0.00 $2,177.39 $388,473.65
224 $388,473.65 $1,200.07 $0.00 $2,196.49 $391,870.21
225 $391,870.21 $1,200.07 $0.00 $2,215.69 $395,285.97
226 $395,285.97 $1,200.07 $0.00 $2,235.00 $398,721.04
227 $398,721.04 $1,200.07 $0.00 $2,254.43 $402,175.54
228 $402,175.54 $1,200.07 $0.00 $2,273.96 $405,649.57
229 $405,649.57 $1,200.07 $147,730.56 $2,293.60 $261,412.68
230 $261,412.68 $1,200.07 $0.00 $1,478.07 $264,090.82
231 $264,090.82 $1,200.07 $0.00 $1,493.21 $266,784.10
232 $266,784.10 $1,200.07 $0.00 $1,508.44 $269,492.61
233 $269,492.61 $1,200.07 $0.00 $1,523.75 $272,216.43
234 $272,216.43 $1,200.07 $0.00 $1,539.15 $274,955.65
235 $274,955.65 $1,200.07 $0.00 $1,554.64 $277,710.36
236 $277,710.36 $1,200.07 $0.00 $1,570.21 $280,480.64
237 $280,480.64 $1,200.07 $0.00 $1,585.88 $283,266.59
238 $283,266.59 $1,200.07 $0.00 $1,601.63 $286,068.29
239 $286,068.29 $1,200.07 $0.00 $1,617.47 $288,885.83
240 $288,885.83 $1,200.07 $0.00 $1,633.40 $291,719.30
241 $291,719.30 $1,200.07 $155,117.09 $1,649.42 $139,451.70
242 $139,451.70 $1,200.07 $0.00 $788.48 $141,440.25
243 $141,440.25 $1,200.07 $0.00 $799.72 $143,440.04
244 $143,440.04 $1,200.07 $0.00 $811.03 $145,451.14
245 $145,451.14 $1,200.07 $0.00 $822.40 $147,473.61
246 $147,473.61 $1,200.07 $0.00 $833.84 $149,507.52
247 $149,507.52 $1,200.07 $0.00 $845.34 $151,552.93
248 $151,552.93 $1,200.07 $0.00 $856.90 $153,609.90
249 $153,609.90 $1,200.07 $0.00 $868.53 $155,678.50
250 $155,678.50 $1,200.07 $0.00 $880.23 $157,758.80
251 $157,758.80 $1,200.07 $0.00 $891.99 $159,850.86
252 $159,850.86 $1,200.07 $0.00 $903.82 $161,954.75
253 $161,954.75 $0.00 $162,872.94 $915.72 ($2.47)