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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$75,071
Monthly savings required$594

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 $300,283.05 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $594.25 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$28,949.00
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 $594.25 $0.00 $0.00 $594.25
2 $594.25 $594.25 $0.00 $3.36 $1,191.86
3 $1,191.86 $594.25 $0.00 $6.74 $1,792.85
4 $1,792.85 $594.25 $0.00 $10.14 $2,397.24
5 $2,397.24 $594.25 $0.00 $13.55 $3,005.04
6 $3,005.04 $594.25 $0.00 $16.99 $3,616.28
7 $3,616.28 $594.25 $0.00 $20.45 $4,230.98
8 $4,230.98 $594.25 $0.00 $23.92 $4,849.15
9 $4,849.15 $594.25 $0.00 $27.42 $5,470.82
10 $5,470.82 $594.25 $0.00 $30.93 $6,096.00
11 $6,096.00 $594.25 $0.00 $34.47 $6,724.72
12 $6,724.72 $594.25 $0.00 $38.02 $7,356.99
13 $7,356.99 $594.25 $0.00 $41.60 $7,992.84
14 $7,992.84 $594.25 $0.00 $45.19 $8,632.28
15 $8,632.28 $594.25 $0.00 $48.81 $9,275.34
16 $9,275.34 $594.25 $0.00 $52.44 $9,922.03
17 $9,922.03 $594.25 $0.00 $56.10 $10,572.38
18 $10,572.38 $594.25 $0.00 $59.78 $11,226.41
19 $11,226.41 $594.25 $0.00 $63.48 $11,884.14
20 $11,884.14 $594.25 $0.00 $67.19 $12,545.58
21 $12,545.58 $594.25 $0.00 $70.93 $13,210.76
22 $13,210.76 $594.25 $0.00 $74.70 $13,879.71
23 $13,879.71 $594.25 $0.00 $78.48 $14,552.44
24 $14,552.44 $594.25 $0.00 $82.28 $15,228.97
25 $15,228.97 $594.25 $0.00 $86.11 $15,909.33
26 $15,909.33 $594.25 $0.00 $89.95 $16,593.53
27 $16,593.53 $594.25 $0.00 $93.82 $17,281.60
28 $17,281.60 $594.25 $0.00 $97.71 $17,973.56
29 $17,973.56 $594.25 $0.00 $101.63 $18,669.44
30 $18,669.44 $594.25 $0.00 $105.56 $19,369.25
31 $19,369.25 $594.25 $0.00 $109.52 $20,073.02
32 $20,073.02 $594.25 $0.00 $113.50 $20,780.77
33 $20,780.77 $594.25 $0.00 $117.50 $21,492.52
34 $21,492.52 $594.25 $0.00 $121.52 $22,208.29
35 $22,208.29 $594.25 $0.00 $125.57 $22,928.11
36 $22,928.11 $594.25 $0.00 $129.64 $23,652.00
37 $23,652.00 $594.25 $0.00 $133.73 $24,379.98
38 $24,379.98 $594.25 $0.00 $137.85 $25,112.08
39 $25,112.08 $594.25 $0.00 $141.99 $25,848.32
40 $25,848.32 $594.25 $0.00 $146.15 $26,588.72
41 $26,588.72 $594.25 $0.00 $150.34 $27,333.31
42 $27,333.31 $594.25 $0.00 $154.55 $28,082.11
43 $28,082.11 $594.25 $0.00 $158.78 $28,835.14
44 $28,835.14 $594.25 $0.00 $163.04 $29,592.43
45 $29,592.43 $594.25 $0.00 $167.32 $30,354.00
46 $30,354.00 $594.25 $0.00 $171.63 $31,119.88
47 $31,119.88 $594.25 $0.00 $175.96 $31,890.09
48 $31,890.09 $594.25 $0.00 $180.31 $32,664.65
49 $32,664.65 $594.25 $0.00 $184.69 $33,443.59
50 $33,443.59 $594.25 $0.00 $189.09 $34,226.93
51 $34,226.93 $594.25 $0.00 $193.52 $35,014.70
52 $35,014.70 $594.25 $0.00 $197.98 $35,806.93
53 $35,806.93 $594.25 $0.00 $202.46 $36,603.64
54 $36,603.64 $594.25 $0.00 $206.96 $37,404.85
55 $37,404.85 $594.25 $0.00 $211.49 $38,210.59
56 $38,210.59 $594.25 $0.00 $216.05 $39,020.89
57 $39,020.89 $594.25 $0.00 $220.63 $39,835.77
58 $39,835.77 $594.25 $0.00 $225.24 $40,655.26
59 $40,655.26 $594.25 $0.00 $229.87 $41,479.38
60 $41,479.38 $594.25 $0.00 $234.53 $42,308.16
61 $42,308.16 $594.25 $0.00 $239.22 $43,141.63
62 $43,141.63 $594.25 $0.00 $243.93 $43,979.81
63 $43,979.81 $594.25 $0.00 $248.67 $44,822.73
64 $44,822.73 $594.25 $0.00 $253.43 $45,670.41
65 $45,670.41 $594.25 $0.00 $258.23 $46,522.89
66 $46,522.89 $594.25 $0.00 $263.05 $47,380.19
67 $47,380.19 $594.25 $0.00 $267.89 $48,242.33
68 $48,242.33 $594.25 $0.00 $272.77 $49,109.35
69 $49,109.35 $594.25 $0.00 $277.67 $49,981.27
70 $49,981.27 $594.25 $0.00 $282.60 $50,858.12
71 $50,858.12 $594.25 $0.00 $287.56 $51,739.93
72 $51,739.93 $594.25 $0.00 $292.55 $52,626.73
73 $52,626.73 $594.25 $0.00 $297.56 $53,518.54
74 $53,518.54 $594.25 $0.00 $302.60 $54,415.39
75 $54,415.39 $594.25 $0.00 $307.67 $55,317.31
76 $55,317.31 $594.25 $0.00 $312.77 $56,224.33
77 $56,224.33 $594.25 $0.00 $317.90 $57,136.48
78 $57,136.48 $594.25 $0.00 $323.06 $58,053.79
79 $58,053.79 $594.25 $0.00 $328.24 $58,976.28
80 $58,976.28 $594.25 $0.00 $333.46 $59,903.99
81 $59,903.99 $594.25 $0.00 $338.71 $60,836.95
82 $60,836.95 $594.25 $0.00 $343.98 $61,775.18
83 $61,775.18 $594.25 $0.00 $349.29 $62,718.72
84 $62,718.72 $594.25 $0.00 $354.62 $63,667.59
85 $63,667.59 $594.25 $0.00 $359.99 $64,621.83
86 $64,621.83 $594.25 $0.00 $365.38 $65,581.46
87 $65,581.46 $594.25 $0.00 $370.81 $66,546.52
88 $66,546.52 $594.25 $0.00 $376.26 $67,517.03
89 $67,517.03 $594.25 $0.00 $381.75 $68,493.03
90 $68,493.03 $594.25 $0.00 $387.27 $69,474.55
91 $69,474.55 $594.25 $0.00 $392.82 $70,461.62
92 $70,461.62 $594.25 $0.00 $398.40 $71,454.27
93 $71,454.27 $594.25 $0.00 $404.01 $72,452.53
94 $72,452.53 $594.25 $0.00 $409.66 $73,456.44
95 $73,456.44 $594.25 $0.00 $415.33 $74,466.02
96 $74,466.02 $594.25 $0.00 $421.04 $75,481.31
97 $75,481.31 $594.25 $0.00 $426.78 $76,502.34
98 $76,502.34 $594.25 $0.00 $432.56 $77,529.15
99 $77,529.15 $594.25 $0.00 $438.36 $78,561.76
100 $78,561.76 $594.25 $0.00 $444.20 $79,600.21
101 $79,600.21 $594.25 $0.00 $450.07 $80,644.53
102 $80,644.53 $594.25 $0.00 $455.98 $81,694.76
103 $81,694.76 $594.25 $0.00 $461.91 $82,750.92
104 $82,750.92 $594.25 $0.00 $467.89 $83,813.06
105 $83,813.06 $594.25 $0.00 $473.89 $84,881.20
106 $84,881.20 $594.25 $0.00 $479.93 $85,955.38
107 $85,955.38 $594.25 $0.00 $486.00 $87,035.63
108 $87,035.63 $594.25 $0.00 $492.11 $88,121.99
109 $88,121.99 $594.25 $0.00 $498.25 $89,214.49
110 $89,214.49 $594.25 $0.00 $504.43 $90,313.17
111 $90,313.17 $594.25 $0.00 $510.64 $91,418.06
112 $91,418.06 $594.25 $0.00 $516.89 $92,529.20
113 $92,529.20 $594.25 $0.00 $523.17 $93,646.62
114 $93,646.62 $594.25 $0.00 $529.49 $94,770.36
115 $94,770.36 $594.25 $0.00 $535.85 $95,900.46
116 $95,900.46 $594.25 $0.00 $542.24 $97,036.95
117 $97,036.95 $594.25 $0.00 $548.66 $98,179.86
118 $98,179.86 $594.25 $0.00 $555.12 $99,329.23
119 $99,329.23 $594.25 $0.00 $561.62 $100,485.10
120 $100,485.10 $594.25 $0.00 $568.16 $101,647.51
121 $101,647.51 $594.25 $0.00 $574.73 $102,816.49
122 $102,816.49 $594.25 $0.00 $581.34 $103,992.08
123 $103,992.08 $594.25 $0.00 $587.99 $105,174.32
124 $105,174.32 $594.25 $0.00 $594.67 $106,363.24
125 $106,363.24 $594.25 $0.00 $601.39 $107,558.88
126 $107,558.88 $594.25 $0.00 $608.15 $108,761.28
127 $108,761.28 $594.25 $0.00 $614.95 $109,970.48
128 $109,970.48 $594.25 $0.00 $621.79 $111,186.52
129 $111,186.52 $594.25 $0.00 $628.66 $112,409.43
130 $112,409.43 $594.25 $0.00 $635.58 $113,639.26
131 $113,639.26 $594.25 $0.00 $642.53 $114,876.04
132 $114,876.04 $594.25 $0.00 $649.53 $116,119.82
133 $116,119.82 $594.25 $0.00 $656.56 $117,370.63
134 $117,370.63 $594.25 $0.00 $663.63 $118,628.51
135 $118,628.51 $594.25 $0.00 $670.74 $119,893.50
136 $119,893.50 $594.25 $0.00 $677.90 $121,165.65
137 $121,165.65 $594.25 $0.00 $685.09 $122,444.99
138 $122,444.99 $594.25 $0.00 $692.32 $123,731.56
139 $123,731.56 $594.25 $0.00 $699.60 $125,025.41
140 $125,025.41 $594.25 $0.00 $706.91 $126,326.57
141 $126,326.57 $594.25 $0.00 $714.27 $127,635.09
142 $127,635.09 $594.25 $0.00 $721.67 $128,951.01
143 $128,951.01 $594.25 $0.00 $729.11 $130,274.37
144 $130,274.37 $594.25 $0.00 $736.59 $131,605.21
145 $131,605.21 $594.25 $0.00 $744.11 $132,943.57
146 $132,943.57 $594.25 $0.00 $751.68 $134,289.50
147 $134,289.50 $594.25 $0.00 $759.29 $135,643.04
148 $135,643.04 $594.25 $0.00 $766.95 $137,004.24
149 $137,004.24 $594.25 $0.00 $774.64 $138,373.13
150 $138,373.13 $594.25 $0.00 $782.38 $139,749.76
151 $139,749.76 $594.25 $0.00 $790.17 $141,134.18
152 $141,134.18 $594.25 $0.00 $797.99 $142,526.42
153 $142,526.42 $594.25 $0.00 $805.87 $143,926.54
154 $143,926.54 $594.25 $0.00 $813.78 $145,334.57
155 $145,334.57 $594.25 $0.00 $821.74 $146,750.56
156 $146,750.56 $594.25 $0.00 $829.75 $148,174.56
157 $148,174.56 $594.25 $0.00 $837.80 $149,606.61
158 $149,606.61 $594.25 $0.00 $845.90 $151,046.76
159 $151,046.76 $594.25 $0.00 $854.04 $152,495.05
160 $152,495.05 $594.25 $0.00 $862.23 $153,951.53
161 $153,951.53 $594.25 $0.00 $870.46 $155,416.24
162 $155,416.24 $594.25 $0.00 $878.75 $156,889.24
163 $156,889.24 $594.25 $0.00 $887.07 $158,370.56
164 $158,370.56 $594.25 $0.00 $895.45 $159,860.26
165 $159,860.26 $594.25 $0.00 $903.87 $161,358.38
166 $161,358.38 $594.25 $0.00 $912.34 $162,864.97
167 $162,864.97 $594.25 $0.00 $920.86 $164,380.08
168 $164,380.08 $594.25 $0.00 $929.43 $165,903.76
169 $165,903.76 $594.25 $0.00 $938.04 $167,436.05
170 $167,436.05 $594.25 $0.00 $946.71 $168,977.01
171 $168,977.01 $594.25 $0.00 $955.42 $170,526.68
172 $170,526.68 $594.25 $0.00 $964.18 $172,085.11
173 $172,085.11 $594.25 $0.00 $972.99 $173,652.35
174 $173,652.35 $594.25 $0.00 $981.86 $175,228.46
175 $175,228.46 $594.25 $0.00 $990.77 $176,813.48
176 $176,813.48 $594.25 $0.00 $999.73 $178,407.46
177 $178,407.46 $594.25 $0.00 $1,008.74 $180,010.45
178 $180,010.45 $594.25 $0.00 $1,017.81 $181,622.51
179 $181,622.51 $594.25 $0.00 $1,026.92 $183,243.68
180 $183,243.68 $594.25 $0.00 $1,036.09 $184,874.02
181 $184,874.02 $594.25 $0.00 $1,045.30 $186,513.57
182 $186,513.57 $594.25 $0.00 $1,054.57 $188,162.39
183 $188,162.39 $594.25 $0.00 $1,063.90 $189,820.54
184 $189,820.54 $594.25 $0.00 $1,073.27 $191,488.06
185 $191,488.06 $594.25 $0.00 $1,082.70 $193,165.01
186 $193,165.01 $594.25 $0.00 $1,092.18 $194,851.44
187 $194,851.44 $594.25 $0.00 $1,101.72 $196,547.41
188 $196,547.41 $594.25 $0.00 $1,111.31 $198,252.97
189 $198,252.97 $594.25 $0.00 $1,120.95 $199,968.17
190 $199,968.17 $594.25 $0.00 $1,130.65 $201,693.07
191 $201,693.07 $594.25 $0.00 $1,140.40 $203,427.72
192 $203,427.72 $594.25 $0.00 $1,150.21 $205,172.18
193 $205,172.18 $594.25 $0.00 $1,160.07 $206,926.50
194 $206,926.50 $594.25 $0.00 $1,169.99 $208,690.74
195 $208,690.74 $594.25 $0.00 $1,179.97 $210,464.96
196 $210,464.96 $594.25 $0.00 $1,190.00 $212,249.21
197 $212,249.21 $594.25 $0.00 $1,200.09 $214,043.55
198 $214,043.55 $594.25 $0.00 $1,210.23 $215,848.03
199 $215,848.03 $594.25 $0.00 $1,220.44 $217,662.72
200 $217,662.72 $594.25 $0.00 $1,230.70 $219,487.67
201 $219,487.67 $594.25 $0.00 $1,241.02 $221,322.94
202 $221,322.94 $594.25 $0.00 $1,251.39 $223,168.58
203 $223,168.58 $594.25 $0.00 $1,261.83 $225,024.66
204 $225,024.66 $594.25 $0.00 $1,272.32 $226,891.23
205 $226,891.23 $594.25 $0.00 $1,282.88 $228,768.36
206 $228,768.36 $594.25 $0.00 $1,293.49 $230,656.10
207 $230,656.10 $594.25 $0.00 $1,304.16 $232,554.51
208 $232,554.51 $594.25 $0.00 $1,314.90 $234,463.66
209 $234,463.66 $594.25 $0.00 $1,325.69 $236,383.60
210 $236,383.60 $594.25 $0.00 $1,336.55 $238,314.40
211 $238,314.40 $594.25 $0.00 $1,347.46 $240,256.11
212 $240,256.11 $594.25 $0.00 $1,358.44 $242,208.80
213 $242,208.80 $594.25 $0.00 $1,369.48 $244,172.53
214 $244,172.53 $594.25 $0.00 $1,380.59 $246,147.37
215 $246,147.37 $594.25 $0.00 $1,391.75 $248,133.37
216 $248,133.37 $594.25 $0.00 $1,402.98 $250,130.60
217 $250,130.60 $594.25 $69,669.22 $1,414.27 $182,469.90
218 $182,469.90 $594.25 $0.00 $1,031.71 $184,095.86
219 $184,095.86 $594.25 $0.00 $1,040.90 $185,731.01
220 $185,731.01 $594.25 $0.00 $1,050.15 $187,375.41
221 $187,375.41 $594.25 $0.00 $1,059.45 $189,029.11
222 $189,029.11 $594.25 $0.00 $1,068.80 $190,692.16
223 $190,692.16 $594.25 $0.00 $1,078.20 $192,364.61
224 $192,364.61 $594.25 $0.00 $1,087.66 $194,046.52
225 $194,046.52 $594.25 $0.00 $1,097.17 $195,737.94
226 $195,737.94 $594.25 $0.00 $1,106.73 $197,438.92
227 $197,438.92 $594.25 $0.00 $1,116.35 $199,149.52
228 $199,149.52 $594.25 $0.00 $1,126.02 $200,869.79
229 $200,869.79 $594.25 $73,152.68 $1,135.75 $129,447.11
230 $129,447.11 $594.25 $0.00 $731.91 $130,773.27
231 $130,773.27 $594.25 $0.00 $739.41 $132,106.93
232 $132,106.93 $594.25 $0.00 $746.95 $133,448.13
233 $133,448.13 $594.25 $0.00 $754.54 $134,796.92
234 $134,796.92 $594.25 $0.00 $762.16 $136,153.33
235 $136,153.33 $594.25 $0.00 $769.83 $137,517.41
236 $137,517.41 $594.25 $0.00 $777.54 $138,889.20
237 $138,889.20 $594.25 $0.00 $785.30 $140,268.75
238 $140,268.75 $594.25 $0.00 $793.10 $141,656.10
239 $141,656.10 $594.25 $0.00 $800.94 $143,051.29
240 $143,051.29 $594.25 $0.00 $808.83 $144,454.37
241 $144,454.37 $594.25 $76,810.32 $816.77 $69,055.07
242 $69,055.07 $594.25 $0.00 $390.45 $70,039.77
243 $70,039.77 $594.25 $0.00 $396.02 $71,030.04
244 $71,030.04 $594.25 $0.00 $401.61 $72,025.90
245 $72,025.90 $594.25 $0.00 $407.24 $73,027.39
246 $73,027.39 $594.25 $0.00 $412.91 $74,034.55
247 $74,034.55 $594.25 $0.00 $418.60 $75,047.40
248 $75,047.40 $594.25 $0.00 $424.33 $76,065.98
249 $76,065.98 $594.25 $0.00 $430.09 $77,090.32
250 $77,090.32 $594.25 $0.00 $435.88 $78,120.45
251 $78,120.45 $594.25 $0.00 $441.70 $79,156.40
252 $79,156.40 $594.25 $0.00 $447.56 $80,198.21
253 $80,198.21 $0.00 $80,650.83 $453.45 $0.83