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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$75,955
Monthly savings required$601

How much will it cost to send your child to University of Mary in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $303,820.18 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $601.25 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$29,290.00
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 $601.25 $0.00 $0.00 $601.25
2 $601.25 $601.25 $0.00 $3.40 $1,205.90
3 $1,205.90 $601.25 $0.00 $6.82 $1,813.97
4 $1,813.97 $601.25 $0.00 $10.26 $2,425.48
5 $2,425.48 $601.25 $0.00 $13.71 $3,040.44
6 $3,040.44 $601.25 $0.00 $17.19 $3,658.88
7 $3,658.88 $601.25 $0.00 $20.69 $4,280.82
8 $4,280.82 $601.25 $0.00 $24.20 $4,906.27
9 $4,906.27 $601.25 $0.00 $27.74 $5,535.26
10 $5,535.26 $601.25 $0.00 $31.30 $6,167.81
11 $6,167.81 $601.25 $0.00 $34.87 $6,803.93
12 $6,803.93 $601.25 $0.00 $38.47 $7,443.65
13 $7,443.65 $601.25 $0.00 $42.09 $8,086.99
14 $8,086.99 $601.25 $0.00 $45.73 $8,733.97
15 $8,733.97 $601.25 $0.00 $49.38 $9,384.60
16 $9,384.60 $601.25 $0.00 $53.06 $10,038.91
17 $10,038.91 $601.25 $0.00 $56.76 $10,696.92
18 $10,696.92 $601.25 $0.00 $60.48 $11,358.65
19 $11,358.65 $601.25 $0.00 $64.22 $12,024.12
20 $12,024.12 $601.25 $0.00 $67.99 $12,693.36
21 $12,693.36 $601.25 $0.00 $71.77 $13,366.38
22 $13,366.38 $601.25 $0.00 $75.58 $14,043.21
23 $14,043.21 $601.25 $0.00 $79.40 $14,723.86
24 $14,723.86 $601.25 $0.00 $83.25 $15,408.36
25 $15,408.36 $601.25 $0.00 $87.12 $16,096.73
26 $16,096.73 $601.25 $0.00 $91.01 $16,788.99
27 $16,788.99 $601.25 $0.00 $94.93 $17,485.17
28 $17,485.17 $601.25 $0.00 $98.86 $18,185.28
29 $18,185.28 $601.25 $0.00 $102.82 $18,889.35
30 $18,889.35 $601.25 $0.00 $106.80 $19,597.40
31 $19,597.40 $601.25 $0.00 $110.81 $20,309.46
32 $20,309.46 $601.25 $0.00 $114.83 $21,025.54
33 $21,025.54 $601.25 $0.00 $118.88 $21,745.67
34 $21,745.67 $601.25 $0.00 $122.95 $22,469.87
35 $22,469.87 $601.25 $0.00 $127.05 $23,198.17
36 $23,198.17 $601.25 $0.00 $131.17 $23,930.59
37 $23,930.59 $601.25 $0.00 $135.31 $24,667.15
38 $24,667.15 $601.25 $0.00 $139.47 $25,407.87
39 $25,407.87 $601.25 $0.00 $143.66 $26,152.78
40 $26,152.78 $601.25 $0.00 $147.87 $26,901.90
41 $26,901.90 $601.25 $0.00 $152.11 $27,655.26
42 $27,655.26 $601.25 $0.00 $156.37 $28,412.88
43 $28,412.88 $601.25 $0.00 $160.65 $29,174.78
44 $29,174.78 $601.25 $0.00 $164.96 $29,940.99
45 $29,940.99 $601.25 $0.00 $169.29 $30,711.53
46 $30,711.53 $601.25 $0.00 $173.65 $31,486.43
47 $31,486.43 $601.25 $0.00 $178.03 $32,265.71
48 $32,265.71 $601.25 $0.00 $182.44 $33,049.40
49 $33,049.40 $601.25 $0.00 $186.87 $33,837.52
50 $33,837.52 $601.25 $0.00 $191.32 $34,630.09
51 $34,630.09 $601.25 $0.00 $195.80 $35,427.14
52 $35,427.14 $601.25 $0.00 $200.31 $36,228.70
53 $36,228.70 $601.25 $0.00 $204.84 $37,034.79
54 $37,034.79 $601.25 $0.00 $209.40 $37,845.44
55 $37,845.44 $601.25 $0.00 $213.98 $38,660.67
56 $38,660.67 $601.25 $0.00 $218.59 $39,480.51
57 $39,480.51 $601.25 $0.00 $223.23 $40,304.99
58 $40,304.99 $601.25 $0.00 $227.89 $41,134.13
59 $41,134.13 $601.25 $0.00 $232.58 $41,967.96
60 $41,967.96 $601.25 $0.00 $237.29 $42,806.50
61 $42,806.50 $601.25 $0.00 $242.03 $43,649.78
62 $43,649.78 $601.25 $0.00 $246.80 $44,497.83
63 $44,497.83 $601.25 $0.00 $251.60 $45,350.68
64 $45,350.68 $601.25 $0.00 $256.42 $46,208.35
65 $46,208.35 $601.25 $0.00 $261.27 $47,070.87
66 $47,070.87 $601.25 $0.00 $266.15 $47,938.27
67 $47,938.27 $601.25 $0.00 $271.05 $48,810.57
68 $48,810.57 $601.25 $0.00 $275.98 $49,687.80
69 $49,687.80 $601.25 $0.00 $280.94 $50,569.99
70 $50,569.99 $601.25 $0.00 $285.93 $51,457.17
71 $51,457.17 $601.25 $0.00 $290.95 $52,349.37
72 $52,349.37 $601.25 $0.00 $295.99 $53,246.61
73 $53,246.61 $601.25 $0.00 $301.06 $54,148.92
74 $54,148.92 $601.25 $0.00 $306.17 $55,056.34
75 $55,056.34 $601.25 $0.00 $311.30 $55,968.89
76 $55,968.89 $601.25 $0.00 $316.46 $56,886.60
77 $56,886.60 $601.25 $0.00 $321.65 $57,809.50
78 $57,809.50 $601.25 $0.00 $326.86 $58,737.61
79 $58,737.61 $601.25 $0.00 $332.11 $59,670.97
80 $59,670.97 $601.25 $0.00 $337.39 $60,609.61
81 $60,609.61 $601.25 $0.00 $342.70 $61,553.56
82 $61,553.56 $601.25 $0.00 $348.03 $62,502.84
83 $62,502.84 $601.25 $0.00 $353.40 $63,457.49
84 $63,457.49 $601.25 $0.00 $358.80 $64,417.54
85 $64,417.54 $601.25 $0.00 $364.23 $65,383.02
86 $65,383.02 $601.25 $0.00 $369.69 $66,353.96
87 $66,353.96 $601.25 $0.00 $375.17 $67,330.38
88 $67,330.38 $601.25 $0.00 $380.70 $68,312.33
89 $68,312.33 $601.25 $0.00 $386.25 $69,299.83
90 $69,299.83 $601.25 $0.00 $391.83 $70,292.91
91 $70,292.91 $601.25 $0.00 $397.45 $71,291.61
92 $71,291.61 $601.25 $0.00 $403.09 $72,295.95
93 $72,295.95 $601.25 $0.00 $408.77 $73,305.97
94 $73,305.97 $601.25 $0.00 $414.48 $74,321.70
95 $74,321.70 $601.25 $0.00 $420.23 $75,343.18
96 $75,343.18 $601.25 $0.00 $426.00 $76,370.43
97 $76,370.43 $601.25 $0.00 $431.81 $77,403.49
98 $77,403.49 $601.25 $0.00 $437.65 $78,442.39
99 $78,442.39 $601.25 $0.00 $443.52 $79,487.16
100 $79,487.16 $601.25 $0.00 $449.43 $80,537.84
101 $80,537.84 $601.25 $0.00 $455.37 $81,594.46
102 $81,594.46 $601.25 $0.00 $461.35 $82,657.06
103 $82,657.06 $601.25 $0.00 $467.36 $83,725.67
104 $83,725.67 $601.25 $0.00 $473.40 $84,800.32
105 $84,800.32 $601.25 $0.00 $479.47 $85,881.04
106 $85,881.04 $601.25 $0.00 $485.58 $86,967.87
107 $86,967.87 $601.25 $0.00 $491.73 $88,060.85
108 $88,060.85 $601.25 $0.00 $497.91 $89,160.01
109 $89,160.01 $601.25 $0.00 $504.12 $90,265.38
110 $90,265.38 $601.25 $0.00 $510.37 $91,377.00
111 $91,377.00 $601.25 $0.00 $516.66 $92,494.91
112 $92,494.91 $601.25 $0.00 $522.98 $93,619.14
113 $93,619.14 $601.25 $0.00 $529.34 $94,749.73
114 $94,749.73 $601.25 $0.00 $535.73 $95,886.71
115 $95,886.71 $601.25 $0.00 $542.16 $97,030.12
116 $97,030.12 $601.25 $0.00 $548.62 $98,179.99
117 $98,179.99 $601.25 $0.00 $555.12 $99,336.36
118 $99,336.36 $601.25 $0.00 $561.66 $100,499.27
119 $100,499.27 $601.25 $0.00 $568.24 $101,668.76
120 $101,668.76 $601.25 $0.00 $574.85 $102,844.86
121 $102,844.86 $601.25 $0.00 $581.50 $104,027.61
122 $104,027.61 $601.25 $0.00 $588.19 $105,217.05
123 $105,217.05 $601.25 $0.00 $594.91 $106,413.21
124 $106,413.21 $601.25 $0.00 $601.68 $107,616.14
125 $107,616.14 $601.25 $0.00 $608.48 $108,825.87
126 $108,825.87 $601.25 $0.00 $615.32 $110,042.44
127 $110,042.44 $601.25 $0.00 $622.20 $111,265.89
128 $111,265.89 $601.25 $0.00 $629.11 $112,496.25
129 $112,496.25 $601.25 $0.00 $636.07 $113,733.57
130 $113,733.57 $601.25 $0.00 $643.07 $114,977.89
131 $114,977.89 $601.25 $0.00 $650.10 $116,229.24
132 $116,229.24 $601.25 $0.00 $657.18 $117,487.67
133 $117,487.67 $601.25 $0.00 $664.29 $118,753.21
134 $118,753.21 $601.25 $0.00 $671.45 $120,025.91
135 $120,025.91 $601.25 $0.00 $678.64 $121,305.80
136 $121,305.80 $601.25 $0.00 $685.88 $122,592.93
137 $122,592.93 $601.25 $0.00 $693.16 $123,887.34
138 $123,887.34 $601.25 $0.00 $700.48 $125,189.07
139 $125,189.07 $601.25 $0.00 $707.84 $126,498.16
140 $126,498.16 $601.25 $0.00 $715.24 $127,814.65
141 $127,814.65 $601.25 $0.00 $722.68 $129,138.58
142 $129,138.58 $601.25 $0.00 $730.17 $130,470.00
143 $130,470.00 $601.25 $0.00 $737.70 $131,808.95
144 $131,808.95 $601.25 $0.00 $745.27 $133,155.47
145 $133,155.47 $601.25 $0.00 $752.88 $134,509.60
146 $134,509.60 $601.25 $0.00 $760.54 $135,871.39
147 $135,871.39 $601.25 $0.00 $768.24 $137,240.88
148 $137,240.88 $601.25 $0.00 $775.98 $138,618.11
149 $138,618.11 $601.25 $0.00 $783.77 $140,003.13
150 $140,003.13 $601.25 $0.00 $791.60 $141,395.98
151 $141,395.98 $601.25 $0.00 $799.47 $142,796.70
152 $142,796.70 $601.25 $0.00 $807.39 $144,205.34
153 $144,205.34 $601.25 $0.00 $815.36 $145,621.95
154 $145,621.95 $601.25 $0.00 $823.37 $147,046.57
155 $147,046.57 $601.25 $0.00 $831.42 $148,479.24
156 $148,479.24 $601.25 $0.00 $839.52 $149,920.01
157 $149,920.01 $601.25 $0.00 $847.67 $151,368.93
158 $151,368.93 $601.25 $0.00 $855.86 $152,826.04
159 $152,826.04 $601.25 $0.00 $864.10 $154,291.39
160 $154,291.39 $601.25 $0.00 $872.39 $155,765.03
161 $155,765.03 $601.25 $0.00 $880.72 $157,247.00
162 $157,247.00 $601.25 $0.00 $889.10 $158,737.35
163 $158,737.35 $601.25 $0.00 $897.52 $160,236.12
164 $160,236.12 $601.25 $0.00 $906.00 $161,743.37
165 $161,743.37 $601.25 $0.00 $914.52 $163,259.14
166 $163,259.14 $601.25 $0.00 $923.09 $164,783.48
167 $164,783.48 $601.25 $0.00 $931.71 $166,316.44
168 $166,316.44 $601.25 $0.00 $940.38 $167,858.07
169 $167,858.07 $601.25 $0.00 $949.09 $169,408.41
170 $169,408.41 $601.25 $0.00 $957.86 $170,967.52
171 $170,967.52 $601.25 $0.00 $966.68 $172,535.45
172 $172,535.45 $601.25 $0.00 $975.54 $174,112.24
173 $174,112.24 $601.25 $0.00 $984.46 $175,697.95
174 $175,697.95 $601.25 $0.00 $993.42 $177,292.62
175 $177,292.62 $601.25 $0.00 $1,002.44 $178,896.31
176 $178,896.31 $601.25 $0.00 $1,011.51 $180,509.07
177 $180,509.07 $601.25 $0.00 $1,020.62 $182,130.94
178 $182,130.94 $601.25 $0.00 $1,029.79 $183,761.98
179 $183,761.98 $601.25 $0.00 $1,039.02 $185,402.25
180 $185,402.25 $601.25 $0.00 $1,048.29 $187,051.79
181 $187,051.79 $601.25 $0.00 $1,057.62 $188,710.66
182 $188,710.66 $601.25 $0.00 $1,067.00 $190,378.91
183 $190,378.91 $601.25 $0.00 $1,076.43 $192,056.59
184 $192,056.59 $601.25 $0.00 $1,085.92 $193,743.76
185 $193,743.76 $601.25 $0.00 $1,095.46 $195,440.47
186 $195,440.47 $601.25 $0.00 $1,105.05 $197,146.77
187 $197,146.77 $601.25 $0.00 $1,114.70 $198,862.72
188 $198,862.72 $601.25 $0.00 $1,124.40 $200,588.37
189 $200,588.37 $601.25 $0.00 $1,134.16 $202,323.78
190 $202,323.78 $601.25 $0.00 $1,143.97 $204,069.00
191 $204,069.00 $601.25 $0.00 $1,153.84 $205,824.09
192 $205,824.09 $601.25 $0.00 $1,163.76 $207,589.10
193 $207,589.10 $601.25 $0.00 $1,173.74 $209,364.09
194 $209,364.09 $601.25 $0.00 $1,183.78 $211,149.12
195 $211,149.12 $601.25 $0.00 $1,193.87 $212,944.24
196 $212,944.24 $601.25 $0.00 $1,204.02 $214,749.51
197 $214,749.51 $601.25 $0.00 $1,214.22 $216,564.98
198 $216,564.98 $601.25 $0.00 $1,224.49 $218,390.72
199 $218,390.72 $601.25 $0.00 $1,234.81 $220,226.78
200 $220,226.78 $601.25 $0.00 $1,245.19 $222,073.22
201 $222,073.22 $601.25 $0.00 $1,255.63 $223,930.10
202 $223,930.10 $601.25 $0.00 $1,266.13 $225,797.48
203 $225,797.48 $601.25 $0.00 $1,276.69 $227,675.42
204 $227,675.42 $601.25 $0.00 $1,287.31 $229,563.98
205 $229,563.98 $601.25 $0.00 $1,297.99 $231,463.22
206 $231,463.22 $601.25 $0.00 $1,308.73 $233,373.20
207 $233,373.20 $601.25 $0.00 $1,319.53 $235,293.98
208 $235,293.98 $601.25 $0.00 $1,330.39 $237,225.62
209 $237,225.62 $601.25 $0.00 $1,341.31 $239,168.18
210 $239,168.18 $601.25 $0.00 $1,352.29 $241,121.72
211 $241,121.72 $601.25 $0.00 $1,363.34 $243,086.31
212 $243,086.31 $601.25 $0.00 $1,374.45 $245,062.01
213 $245,062.01 $601.25 $0.00 $1,385.62 $247,048.88
214 $247,048.88 $601.25 $0.00 $1,396.85 $249,046.98
215 $249,046.98 $601.25 $0.00 $1,408.15 $251,056.38
216 $251,056.38 $601.25 $0.00 $1,419.51 $253,077.14
217 $253,077.14 $601.25 $70,489.88 $1,430.93 $184,619.44
218 $184,619.44 $601.25 $0.00 $1,043.87 $186,264.56
219 $186,264.56 $601.25 $0.00 $1,053.17 $187,918.98
220 $187,918.98 $601.25 $0.00 $1,062.52 $189,582.75
221 $189,582.75 $601.25 $0.00 $1,071.93 $191,255.93
222 $191,255.93 $601.25 $0.00 $1,081.39 $192,938.57
223 $192,938.57 $601.25 $0.00 $1,090.90 $194,630.72
224 $194,630.72 $601.25 $0.00 $1,100.47 $196,332.44
225 $196,332.44 $601.25 $0.00 $1,110.09 $198,043.78
226 $198,043.78 $601.25 $0.00 $1,119.77 $199,764.80
227 $199,764.80 $601.25 $0.00 $1,129.50 $201,495.55
228 $201,495.55 $601.25 $0.00 $1,139.29 $203,236.09
229 $203,236.09 $601.25 $74,014.37 $1,149.13 $130,972.10
230 $130,972.10 $601.25 $0.00 $740.54 $132,313.89
231 $132,313.89 $601.25 $0.00 $748.12 $133,663.26
232 $133,663.26 $601.25 $0.00 $755.75 $135,020.26
233 $135,020.26 $601.25 $0.00 $763.42 $136,384.93
234 $136,384.93 $601.25 $0.00 $771.14 $137,757.32
235 $137,757.32 $601.25 $0.00 $778.90 $139,137.47
236 $139,137.47 $601.25 $0.00 $786.70 $140,525.42
237 $140,525.42 $601.25 $0.00 $794.55 $141,921.22
238 $141,921.22 $601.25 $0.00 $802.44 $143,324.91
239 $143,324.91 $601.25 $0.00 $810.38 $144,736.54
240 $144,736.54 $601.25 $0.00 $818.36 $146,156.15
241 $146,156.15 $601.25 $77,715.09 $826.39 $69,868.70
242 $69,868.70 $601.25 $0.00 $395.05 $70,865.00
243 $70,865.00 $601.25 $0.00 $400.68 $71,866.93
244 $71,866.93 $601.25 $0.00 $406.35 $72,874.53
245 $72,874.53 $601.25 $0.00 $412.04 $73,887.82
246 $73,887.82 $601.25 $0.00 $417.77 $74,906.84
247 $74,906.84 $601.25 $0.00 $423.53 $75,931.62
248 $75,931.62 $601.25 $0.00 $429.33 $76,962.20
249 $76,962.20 $601.25 $0.00 $435.16 $77,998.61
250 $77,998.61 $601.25 $0.00 $441.02 $79,040.88
251 $79,040.88 $601.25 $0.00 $446.91 $80,089.04
252 $80,089.04 $601.25 $0.00 $452.84 $81,143.13
253 $81,143.13 $0.00 $81,600.84 $458.80 $1.09