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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$108,246
Monthly savings required$857

How much will it cost to send your child to College of Mount St. Joseph in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $432,982.66 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $856.85 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$41,742.00
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 $856.85 $0.00 $0.00 $856.85
2 $856.85 $856.85 $0.00 $4.84 $1,718.54
3 $1,718.54 $856.85 $0.00 $9.72 $2,585.11
4 $2,585.11 $856.85 $0.00 $14.62 $3,456.58
5 $3,456.58 $856.85 $0.00 $19.54 $4,332.97
6 $4,332.97 $856.85 $0.00 $24.50 $5,214.32
7 $5,214.32 $856.85 $0.00 $29.48 $6,100.65
8 $6,100.65 $856.85 $0.00 $34.49 $6,991.99
9 $6,991.99 $856.85 $0.00 $39.53 $7,888.37
10 $7,888.37 $856.85 $0.00 $44.60 $8,789.82
11 $8,789.82 $856.85 $0.00 $49.70 $9,696.37
12 $9,696.37 $856.85 $0.00 $54.82 $10,608.04
13 $10,608.04 $856.85 $0.00 $59.98 $11,524.87
14 $11,524.87 $856.85 $0.00 $65.16 $12,446.88
15 $12,446.88 $856.85 $0.00 $70.38 $13,374.11
16 $13,374.11 $856.85 $0.00 $75.62 $14,306.58
17 $14,306.58 $856.85 $0.00 $80.89 $15,244.32
18 $15,244.32 $856.85 $0.00 $86.19 $16,187.36
19 $16,187.36 $856.85 $0.00 $91.53 $17,135.74
20 $17,135.74 $856.85 $0.00 $96.89 $18,089.48
21 $18,089.48 $856.85 $0.00 $102.28 $19,048.61
22 $19,048.61 $856.85 $0.00 $107.70 $20,013.16
23 $20,013.16 $856.85 $0.00 $113.16 $20,983.17
24 $20,983.17 $856.85 $0.00 $118.64 $21,958.66
25 $21,958.66 $856.85 $0.00 $124.16 $22,939.67
26 $22,939.67 $856.85 $0.00 $129.70 $23,926.22
27 $23,926.22 $856.85 $0.00 $135.28 $24,918.35
28 $24,918.35 $856.85 $0.00 $140.89 $25,916.09
29 $25,916.09 $856.85 $0.00 $146.53 $26,919.47
30 $26,919.47 $856.85 $0.00 $152.21 $27,928.53
31 $27,928.53 $856.85 $0.00 $157.91 $28,943.29
32 $28,943.29 $856.85 $0.00 $163.65 $29,963.79
33 $29,963.79 $856.85 $0.00 $169.42 $30,990.06
34 $30,990.06 $856.85 $0.00 $175.22 $32,022.13
35 $32,022.13 $856.85 $0.00 $181.06 $33,060.04
36 $33,060.04 $856.85 $0.00 $186.93 $34,103.82
37 $34,103.82 $856.85 $0.00 $192.83 $35,153.50
38 $35,153.50 $856.85 $0.00 $198.76 $36,209.11
39 $36,209.11 $856.85 $0.00 $204.73 $37,270.69
40 $37,270.69 $856.85 $0.00 $210.73 $38,338.27
41 $38,338.27 $856.85 $0.00 $216.77 $39,411.89
42 $39,411.89 $856.85 $0.00 $222.84 $40,491.58
43 $40,491.58 $856.85 $0.00 $228.95 $41,577.38
44 $41,577.38 $856.85 $0.00 $235.08 $42,669.31
45 $42,669.31 $856.85 $0.00 $241.26 $43,767.42
46 $43,767.42 $856.85 $0.00 $247.47 $44,871.74
47 $44,871.74 $856.85 $0.00 $253.71 $45,982.30
48 $45,982.30 $856.85 $0.00 $259.99 $47,099.14
49 $47,099.14 $856.85 $0.00 $266.31 $48,222.30
50 $48,222.30 $856.85 $0.00 $272.66 $49,351.81
51 $49,351.81 $856.85 $0.00 $279.04 $50,487.70
52 $50,487.70 $856.85 $0.00 $285.46 $51,630.01
53 $51,630.01 $856.85 $0.00 $291.92 $52,778.78
54 $52,778.78 $856.85 $0.00 $298.42 $53,934.05
55 $53,934.05 $856.85 $0.00 $304.95 $55,095.85
56 $55,095.85 $856.85 $0.00 $311.52 $56,264.22
57 $56,264.22 $856.85 $0.00 $318.13 $57,439.20
58 $57,439.20 $856.85 $0.00 $324.77 $58,620.82
59 $58,620.82 $856.85 $0.00 $331.45 $59,809.12
60 $59,809.12 $856.85 $0.00 $338.17 $61,004.14
61 $61,004.14 $856.85 $0.00 $344.93 $62,205.92
62 $62,205.92 $856.85 $0.00 $351.72 $63,414.49
63 $63,414.49 $856.85 $0.00 $358.55 $64,629.89
64 $64,629.89 $856.85 $0.00 $365.43 $65,852.17
65 $65,852.17 $856.85 $0.00 $372.34 $67,081.36
66 $67,081.36 $856.85 $0.00 $379.29 $68,317.50
67 $68,317.50 $856.85 $0.00 $386.28 $69,560.63
68 $69,560.63 $856.85 $0.00 $393.31 $70,810.79
69 $70,810.79 $856.85 $0.00 $400.37 $72,068.01
70 $72,068.01 $856.85 $0.00 $407.48 $73,332.34
71 $73,332.34 $856.85 $0.00 $414.63 $74,603.82
72 $74,603.82 $856.85 $0.00 $421.82 $75,882.49
73 $75,882.49 $856.85 $0.00 $429.05 $77,168.39
74 $77,168.39 $856.85 $0.00 $436.32 $78,461.56
75 $78,461.56 $856.85 $0.00 $443.63 $79,762.04
76 $79,762.04 $856.85 $0.00 $450.99 $81,069.88
77 $81,069.88 $856.85 $0.00 $458.38 $82,385.11
78 $82,385.11 $856.85 $0.00 $465.82 $83,707.78
79 $83,707.78 $856.85 $0.00 $473.30 $85,037.93
80 $85,037.93 $856.85 $0.00 $480.82 $86,375.60
81 $86,375.60 $856.85 $0.00 $488.38 $87,720.83
82 $87,720.83 $856.85 $0.00 $495.99 $89,073.67
83 $89,073.67 $856.85 $0.00 $503.64 $90,434.16
84 $90,434.16 $856.85 $0.00 $511.33 $91,802.34
85 $91,802.34 $856.85 $0.00 $519.06 $93,178.25
86 $93,178.25 $856.85 $0.00 $526.84 $94,561.94
87 $94,561.94 $856.85 $0.00 $534.67 $95,953.46
88 $95,953.46 $856.85 $0.00 $542.53 $97,352.84
89 $97,352.84 $856.85 $0.00 $550.45 $98,760.14
90 $98,760.14 $856.85 $0.00 $558.40 $100,175.39
91 $100,175.39 $856.85 $0.00 $566.41 $101,598.65
92 $101,598.65 $856.85 $0.00 $574.45 $103,029.95
93 $103,029.95 $856.85 $0.00 $582.55 $104,469.35
94 $104,469.35 $856.85 $0.00 $590.68 $105,916.88
95 $105,916.88 $856.85 $0.00 $598.87 $107,372.60
96 $107,372.60 $856.85 $0.00 $607.10 $108,836.55
97 $108,836.55 $856.85 $0.00 $615.38 $110,308.78
98 $110,308.78 $856.85 $0.00 $623.70 $111,789.33
99 $111,789.33 $856.85 $0.00 $632.07 $113,278.25
100 $113,278.25 $856.85 $0.00 $640.49 $114,775.59
101 $114,775.59 $856.85 $0.00 $648.96 $116,281.40
102 $116,281.40 $856.85 $0.00 $657.47 $117,795.72
103 $117,795.72 $856.85 $0.00 $666.03 $119,318.60
104 $119,318.60 $856.85 $0.00 $674.64 $120,850.09
105 $120,850.09 $856.85 $0.00 $683.30 $122,390.24
106 $122,390.24 $856.85 $0.00 $692.01 $123,939.10
107 $123,939.10 $856.85 $0.00 $700.77 $125,496.72
108 $125,496.72 $856.85 $0.00 $709.58 $127,063.15
109 $127,063.15 $856.85 $0.00 $718.43 $128,638.43
110 $128,638.43 $856.85 $0.00 $727.34 $130,222.62
111 $130,222.62 $856.85 $0.00 $736.30 $131,815.77
112 $131,815.77 $856.85 $0.00 $745.31 $133,417.93
113 $133,417.93 $856.85 $0.00 $754.36 $135,029.14
114 $135,029.14 $856.85 $0.00 $763.47 $136,649.46
115 $136,649.46 $856.85 $0.00 $772.64 $138,278.95
116 $138,278.95 $856.85 $0.00 $781.85 $139,917.65
117 $139,917.65 $856.85 $0.00 $791.11 $141,565.61
118 $141,565.61 $856.85 $0.00 $800.43 $143,222.89
119 $143,222.89 $856.85 $0.00 $809.80 $144,889.54
120 $144,889.54 $856.85 $0.00 $819.23 $146,565.62
121 $146,565.62 $856.85 $0.00 $828.70 $148,251.17
122 $148,251.17 $856.85 $0.00 $838.23 $149,946.25
123 $149,946.25 $856.85 $0.00 $847.82 $151,650.92
124 $151,650.92 $856.85 $0.00 $857.46 $153,365.23
125 $153,365.23 $856.85 $0.00 $867.15 $155,089.23
126 $155,089.23 $856.85 $0.00 $876.90 $156,822.98
127 $156,822.98 $856.85 $0.00 $886.70 $158,566.53
128 $158,566.53 $856.85 $0.00 $896.56 $160,319.94
129 $160,319.94 $856.85 $0.00 $906.47 $162,083.26
130 $162,083.26 $856.85 $0.00 $916.44 $163,856.55
131 $163,856.55 $856.85 $0.00 $926.47 $165,639.87
132 $165,639.87 $856.85 $0.00 $936.55 $167,433.27
133 $167,433.27 $856.85 $0.00 $946.69 $169,236.81
134 $169,236.81 $856.85 $0.00 $956.89 $171,050.55
135 $171,050.55 $856.85 $0.00 $967.14 $172,874.54
136 $172,874.54 $856.85 $0.00 $977.46 $174,708.85
137 $174,708.85 $856.85 $0.00 $987.83 $176,553.53
138 $176,553.53 $856.85 $0.00 $998.26 $178,408.64
139 $178,408.64 $856.85 $0.00 $1,008.75 $180,274.24
140 $180,274.24 $856.85 $0.00 $1,019.30 $182,150.39
141 $182,150.39 $856.85 $0.00 $1,029.90 $184,037.14
142 $184,037.14 $856.85 $0.00 $1,040.57 $185,934.56
143 $185,934.56 $856.85 $0.00 $1,051.30 $187,842.71
144 $187,842.71 $856.85 $0.00 $1,062.09 $189,761.65
145 $189,761.65 $856.85 $0.00 $1,072.94 $191,691.44
146 $191,691.44 $856.85 $0.00 $1,083.85 $193,632.14
147 $193,632.14 $856.85 $0.00 $1,094.82 $195,583.81
148 $195,583.81 $856.85 $0.00 $1,105.86 $197,546.52
149 $197,546.52 $856.85 $0.00 $1,116.96 $199,520.33
150 $199,520.33 $856.85 $0.00 $1,128.12 $201,505.30
151 $201,505.30 $856.85 $0.00 $1,139.34 $203,501.49
152 $203,501.49 $856.85 $0.00 $1,150.63 $205,508.97
153 $205,508.97 $856.85 $0.00 $1,161.98 $207,527.80
154 $207,527.80 $856.85 $0.00 $1,173.39 $209,558.04
155 $209,558.04 $856.85 $0.00 $1,184.87 $211,599.76
156 $211,599.76 $856.85 $0.00 $1,196.42 $213,653.03
157 $213,653.03 $856.85 $0.00 $1,208.03 $215,717.91
158 $215,717.91 $856.85 $0.00 $1,219.70 $217,794.46
159 $217,794.46 $856.85 $0.00 $1,231.44 $219,882.75
160 $219,882.75 $856.85 $0.00 $1,243.25 $221,982.85
161 $221,982.85 $856.85 $0.00 $1,255.12 $224,094.82
162 $224,094.82 $856.85 $0.00 $1,267.06 $226,218.73
163 $226,218.73 $856.85 $0.00 $1,279.07 $228,354.65
164 $228,354.65 $856.85 $0.00 $1,291.15 $230,502.65
165 $230,502.65 $856.85 $0.00 $1,303.30 $232,662.80
166 $232,662.80 $856.85 $0.00 $1,315.51 $234,835.16
167 $234,835.16 $856.85 $0.00 $1,327.79 $237,019.80
168 $237,019.80 $856.85 $0.00 $1,340.14 $239,216.79
169 $239,216.79 $856.85 $0.00 $1,352.57 $241,426.21
170 $241,426.21 $856.85 $0.00 $1,365.06 $243,648.12
171 $243,648.12 $856.85 $0.00 $1,377.62 $245,882.59
172 $245,882.59 $856.85 $0.00 $1,390.26 $248,129.70
173 $248,129.70 $856.85 $0.00 $1,402.96 $250,389.51
174 $250,389.51 $856.85 $0.00 $1,415.74 $252,662.10
175 $252,662.10 $856.85 $0.00 $1,428.59 $254,947.54
176 $254,947.54 $856.85 $0.00 $1,441.51 $257,245.90
177 $257,245.90 $856.85 $0.00 $1,454.51 $259,557.26
178 $259,557.26 $856.85 $0.00 $1,467.57 $261,881.68
179 $261,881.68 $856.85 $0.00 $1,480.72 $264,219.25
180 $264,219.25 $856.85 $0.00 $1,493.93 $266,570.03
181 $266,570.03 $856.85 $0.00 $1,507.23 $268,934.11
182 $268,934.11 $856.85 $0.00 $1,520.59 $271,311.55
183 $271,311.55 $856.85 $0.00 $1,534.03 $273,702.43
184 $273,702.43 $856.85 $0.00 $1,547.55 $276,106.83
185 $276,106.83 $856.85 $0.00 $1,561.15 $278,524.83
186 $278,524.83 $856.85 $0.00 $1,574.82 $280,956.50
187 $280,956.50 $856.85 $0.00 $1,588.57 $283,401.92
188 $283,401.92 $856.85 $0.00 $1,602.40 $285,861.17
189 $285,861.17 $856.85 $0.00 $1,616.30 $288,334.32
190 $288,334.32 $856.85 $0.00 $1,630.28 $290,821.45
191 $290,821.45 $856.85 $0.00 $1,644.35 $293,322.65
192 $293,322.65 $856.85 $0.00 $1,658.49 $295,837.99
193 $295,837.99 $856.85 $0.00 $1,672.71 $298,367.55
194 $298,367.55 $856.85 $0.00 $1,687.01 $300,911.41
195 $300,911.41 $856.85 $0.00 $1,701.40 $303,469.66
196 $303,469.66 $856.85 $0.00 $1,715.86 $306,042.37
197 $306,042.37 $856.85 $0.00 $1,730.41 $308,629.63
198 $308,629.63 $856.85 $0.00 $1,745.04 $311,231.52
199 $311,231.52 $856.85 $0.00 $1,759.75 $313,848.12
200 $313,848.12 $856.85 $0.00 $1,774.54 $316,479.51
201 $316,479.51 $856.85 $0.00 $1,789.42 $319,125.78
202 $319,125.78 $856.85 $0.00 $1,804.38 $321,787.01
203 $321,787.01 $856.85 $0.00 $1,819.43 $324,463.29
204 $324,463.29 $856.85 $0.00 $1,834.56 $327,154.70
205 $327,154.70 $856.85 $0.00 $1,849.78 $329,861.33
206 $329,861.33 $856.85 $0.00 $1,865.08 $332,583.26
207 $332,583.26 $856.85 $0.00 $1,880.47 $335,320.58
208 $335,320.58 $856.85 $0.00 $1,895.95 $338,073.38
209 $338,073.38 $856.85 $0.00 $1,911.52 $340,841.75
210 $340,841.75 $856.85 $0.00 $1,927.17 $343,625.77
211 $343,625.77 $856.85 $0.00 $1,942.91 $346,425.53
212 $346,425.53 $856.85 $0.00 $1,958.74 $349,241.12
213 $349,241.12 $856.85 $0.00 $1,974.66 $352,072.63
214 $352,072.63 $856.85 $0.00 $1,990.67 $354,920.15
215 $354,920.15 $856.85 $0.00 $2,006.77 $357,783.77
216 $357,783.77 $856.85 $0.00 $2,022.96 $360,663.58
217 $360,663.58 $856.85 $100,457.10 $2,039.24 $263,102.57
218 $263,102.57 $856.85 $0.00 $1,487.62 $265,447.04
219 $265,447.04 $856.85 $0.00 $1,500.88 $267,804.77
220 $267,804.77 $856.85 $0.00 $1,514.21 $270,175.83
221 $270,175.83 $856.85 $0.00 $1,527.61 $272,560.29
222 $272,560.29 $856.85 $0.00 $1,541.10 $274,958.24
223 $274,958.24 $856.85 $0.00 $1,554.65 $277,369.74
224 $277,369.74 $856.85 $0.00 $1,568.29 $279,794.88
225 $279,794.88 $856.85 $0.00 $1,582.00 $282,233.73
226 $282,233.73 $856.85 $0.00 $1,595.79 $284,686.37
227 $284,686.37 $856.85 $0.00 $1,609.66 $287,152.88
228 $287,152.88 $856.85 $0.00 $1,623.60 $289,633.33
229 $289,633.33 $856.85 $105,479.96 $1,637.63 $186,647.85
230 $186,647.85 $856.85 $0.00 $1,055.33 $188,560.03
231 $188,560.03 $856.85 $0.00 $1,066.15 $190,483.03
232 $190,483.03 $856.85 $0.00 $1,077.02 $192,416.90
233 $192,416.90 $856.85 $0.00 $1,087.95 $194,361.70
234 $194,361.70 $856.85 $0.00 $1,098.95 $196,317.50
235 $196,317.50 $856.85 $0.00 $1,110.01 $198,284.36
236 $198,284.36 $856.85 $0.00 $1,121.13 $200,262.34
237 $200,262.34 $856.85 $0.00 $1,132.31 $202,251.50
238 $202,251.50 $856.85 $0.00 $1,143.56 $204,251.91
239 $204,251.91 $856.85 $0.00 $1,154.87 $206,263.63
240 $206,263.63 $856.85 $0.00 $1,166.24 $208,286.72
241 $208,286.72 $856.85 $110,753.95 $1,177.68 $99,567.30
242 $99,567.30 $856.85 $0.00 $562.97 $100,987.12
243 $100,987.12 $856.85 $0.00 $571.00 $102,414.97
244 $102,414.97 $856.85 $0.00 $579.07 $103,850.89
245 $103,850.89 $856.85 $0.00 $587.19 $105,294.93
246 $105,294.93 $856.85 $0.00 $595.35 $106,747.13
247 $106,747.13 $856.85 $0.00 $603.56 $108,207.54
248 $108,207.54 $856.85 $0.00 $611.82 $109,676.21
249 $109,676.21 $856.85 $0.00 $620.13 $111,153.19
250 $111,153.19 $856.85 $0.00 $628.48 $112,638.52
251 $112,638.52 $856.85 $0.00 $636.87 $114,132.24
252 $114,132.24 $856.85 $0.00 $645.32 $115,634.41
253 $115,634.41 $0.00 $116,291.65 $653.81 ($3.43)