Savings Plan and Future Cost Estimation for Carnegie Mellon University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2041$200,906
Monthly savings required$1,590

How much will it cost to send your child to Carnegie Mellon University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $803,624.61 for students enrolling in 2041 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,590.33 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$77,474.00
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 $1,590.33 $0.00 $0.00 $1,590.33
2 $1,590.33 $1,590.33 $0.00 $8.99 $3,189.65
3 $3,189.65 $1,590.33 $0.00 $18.03 $4,798.01
4 $4,798.01 $1,590.33 $0.00 $27.13 $6,415.47
5 $6,415.47 $1,590.33 $0.00 $36.27 $8,042.07
6 $8,042.07 $1,590.33 $0.00 $45.47 $9,677.87
7 $9,677.87 $1,590.33 $0.00 $54.72 $11,322.92
8 $11,322.92 $1,590.33 $0.00 $64.02 $12,977.27
9 $12,977.27 $1,590.33 $0.00 $73.38 $14,640.98
10 $14,640.98 $1,590.33 $0.00 $82.78 $16,314.09
11 $16,314.09 $1,590.33 $0.00 $92.24 $17,996.66
12 $17,996.66 $1,590.33 $0.00 $101.76 $19,688.75
13 $19,688.75 $1,590.33 $0.00 $111.32 $21,390.40
14 $21,390.40 $1,590.33 $0.00 $120.94 $23,101.67
15 $23,101.67 $1,590.33 $0.00 $130.62 $24,822.62
16 $24,822.62 $1,590.33 $0.00 $140.35 $26,553.30
17 $26,553.30 $1,590.33 $0.00 $150.14 $28,293.77
18 $28,293.77 $1,590.33 $0.00 $159.98 $30,044.08
19 $30,044.08 $1,590.33 $0.00 $169.87 $31,804.28
20 $31,804.28 $1,590.33 $0.00 $179.83 $33,574.44
21 $33,574.44 $1,590.33 $0.00 $189.83 $35,354.60
22 $35,354.60 $1,590.33 $0.00 $199.90 $37,144.83
23 $37,144.83 $1,590.33 $0.00 $210.02 $38,945.18
24 $38,945.18 $1,590.33 $0.00 $220.20 $40,755.71
25 $40,755.71 $1,590.33 $0.00 $230.44 $42,576.48
26 $42,576.48 $1,590.33 $0.00 $240.73 $44,407.54
27 $44,407.54 $1,590.33 $0.00 $251.09 $46,248.96
28 $46,248.96 $1,590.33 $0.00 $261.50 $48,100.79
29 $48,100.79 $1,590.33 $0.00 $271.97 $49,963.09
30 $49,963.09 $1,590.33 $0.00 $282.50 $51,835.92
31 $51,835.92 $1,590.33 $0.00 $293.09 $53,719.34
32 $53,719.34 $1,590.33 $0.00 $303.74 $55,613.41
33 $55,613.41 $1,590.33 $0.00 $314.45 $57,518.19
34 $57,518.19 $1,590.33 $0.00 $325.22 $59,433.74
35 $59,433.74 $1,590.33 $0.00 $336.05 $61,360.12
36 $61,360.12 $1,590.33 $0.00 $346.94 $63,297.39
37 $63,297.39 $1,590.33 $0.00 $357.89 $65,245.61
38 $65,245.61 $1,590.33 $0.00 $368.91 $67,204.85
39 $67,204.85 $1,590.33 $0.00 $379.99 $69,175.17
40 $69,175.17 $1,590.33 $0.00 $391.13 $71,156.63
41 $71,156.63 $1,590.33 $0.00 $402.33 $73,149.29
42 $73,149.29 $1,590.33 $0.00 $413.60 $75,153.22
43 $75,153.22 $1,590.33 $0.00 $424.93 $77,168.48
44 $77,168.48 $1,590.33 $0.00 $436.32 $79,195.13
45 $79,195.13 $1,590.33 $0.00 $447.78 $81,233.24
46 $81,233.24 $1,590.33 $0.00 $459.30 $83,282.87
47 $83,282.87 $1,590.33 $0.00 $470.89 $85,344.09
48 $85,344.09 $1,590.33 $0.00 $482.55 $87,416.97
49 $87,416.97 $1,590.33 $0.00 $494.27 $89,501.57
50 $89,501.57 $1,590.33 $0.00 $506.05 $91,597.95
51 $91,597.95 $1,590.33 $0.00 $517.91 $93,706.19
52 $93,706.19 $1,590.33 $0.00 $529.83 $95,826.35
53 $95,826.35 $1,590.33 $0.00 $541.82 $97,958.50
54 $97,958.50 $1,590.33 $0.00 $553.87 $100,102.70
55 $100,102.70 $1,590.33 $0.00 $566.00 $102,259.03
56 $102,259.03 $1,590.33 $0.00 $578.19 $104,427.55
57 $104,427.55 $1,590.33 $0.00 $590.45 $106,608.33
58 $106,608.33 $1,590.33 $0.00 $602.78 $108,801.44
59 $108,801.44 $1,590.33 $0.00 $615.18 $111,006.95
60 $111,006.95 $1,590.33 $0.00 $627.65 $113,224.93
61 $113,224.93 $1,590.33 $0.00 $640.19 $115,455.45
62 $115,455.45 $1,590.33 $0.00 $652.80 $117,698.58
63 $117,698.58 $1,590.33 $0.00 $665.48 $119,954.39
64 $119,954.39 $1,590.33 $0.00 $678.24 $122,222.96
65 $122,222.96 $1,590.33 $0.00 $691.07 $124,504.36
66 $124,504.36 $1,590.33 $0.00 $703.97 $126,798.66
67 $126,798.66 $1,590.33 $0.00 $716.94 $129,105.93
68 $129,105.93 $1,590.33 $0.00 $729.98 $131,426.24
69 $131,426.24 $1,590.33 $0.00 $743.10 $133,759.67
70 $133,759.67 $1,590.33 $0.00 $756.30 $136,106.30
71 $136,106.30 $1,590.33 $0.00 $769.56 $138,466.19
72 $138,466.19 $1,590.33 $0.00 $782.91 $140,839.43
73 $140,839.43 $1,590.33 $0.00 $796.33 $143,226.09
74 $143,226.09 $1,590.33 $0.00 $809.82 $145,626.24
75 $145,626.24 $1,590.33 $0.00 $823.39 $148,039.96
76 $148,039.96 $1,590.33 $0.00 $837.04 $150,467.33
77 $150,467.33 $1,590.33 $0.00 $850.76 $152,908.42
78 $152,908.42 $1,590.33 $0.00 $864.57 $155,363.32
79 $155,363.32 $1,590.33 $0.00 $878.45 $157,832.10
80 $157,832.10 $1,590.33 $0.00 $892.41 $160,314.84
81 $160,314.84 $1,590.33 $0.00 $906.44 $162,811.61
82 $162,811.61 $1,590.33 $0.00 $920.56 $165,322.50
83 $165,322.50 $1,590.33 $0.00 $934.76 $167,847.59
84 $167,847.59 $1,590.33 $0.00 $949.03 $170,386.95
85 $170,386.95 $1,590.33 $0.00 $963.39 $172,940.67
86 $172,940.67 $1,590.33 $0.00 $977.83 $175,508.83
87 $175,508.83 $1,590.33 $0.00 $992.35 $178,091.51
88 $178,091.51 $1,590.33 $0.00 $1,006.96 $180,688.80
89 $180,688.80 $1,590.33 $0.00 $1,021.64 $183,300.77
90 $183,300.77 $1,590.33 $0.00 $1,036.41 $185,927.51
91 $185,927.51 $1,590.33 $0.00 $1,051.26 $188,569.10
92 $188,569.10 $1,590.33 $0.00 $1,066.20 $191,225.63
93 $191,225.63 $1,590.33 $0.00 $1,081.22 $193,897.18
94 $193,897.18 $1,590.33 $0.00 $1,096.32 $196,583.83
95 $196,583.83 $1,590.33 $0.00 $1,111.51 $199,285.67
96 $199,285.67 $1,590.33 $0.00 $1,126.79 $202,002.79
97 $202,002.79 $1,590.33 $0.00 $1,142.15 $204,735.27
98 $204,735.27 $1,590.33 $0.00 $1,157.60 $207,483.20
99 $207,483.20 $1,590.33 $0.00 $1,173.14 $210,246.67
100 $210,246.67 $1,590.33 $0.00 $1,188.77 $213,025.77
101 $213,025.77 $1,590.33 $0.00 $1,204.48 $215,820.58
102 $215,820.58 $1,590.33 $0.00 $1,220.28 $218,631.19
103 $218,631.19 $1,590.33 $0.00 $1,236.17 $221,457.69
104 $221,457.69 $1,590.33 $0.00 $1,252.15 $224,300.17
105 $224,300.17 $1,590.33 $0.00 $1,268.23 $227,158.73
106 $227,158.73 $1,590.33 $0.00 $1,284.39 $230,033.45
107 $230,033.45 $1,590.33 $0.00 $1,300.64 $232,924.42
108 $232,924.42 $1,590.33 $0.00 $1,316.99 $235,831.74
109 $235,831.74 $1,590.33 $0.00 $1,333.43 $238,755.50
110 $238,755.50 $1,590.33 $0.00 $1,349.96 $241,695.79
111 $241,695.79 $1,590.33 $0.00 $1,366.58 $244,652.70
112 $244,652.70 $1,590.33 $0.00 $1,383.30 $247,626.33
113 $247,626.33 $1,590.33 $0.00 $1,400.12 $250,616.78
114 $250,616.78 $1,590.33 $0.00 $1,417.02 $253,624.13
115 $253,624.13 $1,590.33 $0.00 $1,434.03 $256,648.49
116 $256,648.49 $1,590.33 $0.00 $1,451.13 $259,689.95
117 $259,689.95 $1,590.33 $0.00 $1,468.32 $262,748.60
118 $262,748.60 $1,590.33 $0.00 $1,485.62 $265,824.55
119 $265,824.55 $1,590.33 $0.00 $1,503.01 $268,917.89
120 $268,917.89 $1,590.33 $0.00 $1,520.50 $272,028.72
121 $272,028.72 $1,590.33 $0.00 $1,538.09 $275,157.14
122 $275,157.14 $1,590.33 $0.00 $1,555.78 $278,303.25
123 $278,303.25 $1,590.33 $0.00 $1,573.57 $281,467.15
124 $281,467.15 $1,590.33 $0.00 $1,591.46 $284,648.94
125 $284,648.94 $1,590.33 $0.00 $1,609.45 $287,848.72
126 $287,848.72 $1,590.33 $0.00 $1,627.54 $291,066.59
127 $291,066.59 $1,590.33 $0.00 $1,645.73 $294,302.65
128 $294,302.65 $1,590.33 $0.00 $1,664.03 $297,557.01
129 $297,557.01 $1,590.33 $0.00 $1,682.43 $300,829.77
130 $300,829.77 $1,590.33 $0.00 $1,700.94 $304,121.04
131 $304,121.04 $1,590.33 $0.00 $1,719.54 $307,430.91
132 $307,430.91 $1,590.33 $0.00 $1,738.26 $310,759.50
133 $310,759.50 $1,590.33 $0.00 $1,757.08 $314,106.91
134 $314,106.91 $1,590.33 $0.00 $1,776.01 $317,473.25
135 $317,473.25 $1,590.33 $0.00 $1,795.04 $320,858.62
136 $320,858.62 $1,590.33 $0.00 $1,814.18 $324,263.13
137 $324,263.13 $1,590.33 $0.00 $1,833.43 $327,686.89
138 $327,686.89 $1,590.33 $0.00 $1,852.79 $331,130.01
139 $331,130.01 $1,590.33 $0.00 $1,872.26 $334,592.60
140 $334,592.60 $1,590.33 $0.00 $1,891.84 $338,074.77
141 $338,074.77 $1,590.33 $0.00 $1,911.52 $341,576.62
142 $341,576.62 $1,590.33 $0.00 $1,931.32 $345,098.27
143 $345,098.27 $1,590.33 $0.00 $1,951.24 $348,639.84
144 $348,639.84 $1,590.33 $0.00 $1,971.26 $352,201.43
145 $352,201.43 $1,590.33 $0.00 $1,991.40 $355,783.16
146 $355,783.16 $1,590.33 $0.00 $2,011.65 $359,385.14
147 $359,385.14 $1,590.33 $0.00 $2,032.02 $363,007.49
148 $363,007.49 $1,590.33 $0.00 $2,052.50 $366,650.32
149 $366,650.32 $1,590.33 $0.00 $2,073.09 $370,313.74
150 $370,313.74 $1,590.33 $0.00 $2,093.81 $373,997.88
151 $373,997.88 $1,590.33 $0.00 $2,114.64 $377,702.85
152 $377,702.85 $1,590.33 $0.00 $2,135.59 $381,428.77
153 $381,428.77 $1,590.33 $0.00 $2,156.65 $385,175.75
154 $385,175.75 $1,590.33 $0.00 $2,177.84 $388,943.92
155 $388,943.92 $1,590.33 $0.00 $2,199.15 $392,733.40
156 $392,733.40 $1,590.33 $0.00 $2,220.57 $396,544.30
157 $396,544.30 $1,590.33 $0.00 $2,242.12 $400,376.75
158 $400,376.75 $1,590.33 $0.00 $2,263.79 $404,230.87
159 $404,230.87 $1,590.33 $0.00 $2,285.58 $408,106.78
160 $408,106.78 $1,590.33 $0.00 $2,307.50 $412,004.61
161 $412,004.61 $1,590.33 $0.00 $2,329.53 $415,924.47
162 $415,924.47 $1,590.33 $0.00 $2,351.70 $419,866.50
163 $419,866.50 $1,590.33 $0.00 $2,373.99 $423,830.82
164 $423,830.82 $1,590.33 $0.00 $2,396.40 $427,817.55
165 $427,817.55 $1,590.33 $0.00 $2,418.94 $431,826.82
166 $431,826.82 $1,590.33 $0.00 $2,441.61 $435,858.76
167 $435,858.76 $1,590.33 $0.00 $2,464.41 $439,913.50
168 $439,913.50 $1,590.33 $0.00 $2,487.33 $443,991.16
169 $443,991.16 $1,590.33 $0.00 $2,510.39 $448,091.88
170 $448,091.88 $1,590.33 $0.00 $2,533.58 $452,215.79
171 $452,215.79 $1,590.33 $0.00 $2,556.89 $456,363.01
172 $456,363.01 $1,590.33 $0.00 $2,580.34 $460,533.68
173 $460,533.68 $1,590.33 $0.00 $2,603.92 $464,727.93
174 $464,727.93 $1,590.33 $0.00 $2,627.64 $468,945.90
175 $468,945.90 $1,590.33 $0.00 $2,651.49 $473,187.72
176 $473,187.72 $1,590.33 $0.00 $2,675.47 $477,453.52
177 $477,453.52 $1,590.33 $0.00 $2,699.59 $481,743.44
178 $481,743.44 $1,590.33 $0.00 $2,723.85 $486,057.62
179 $486,057.62 $1,590.33 $0.00 $2,748.24 $490,396.19
180 $490,396.19 $1,590.33 $0.00 $2,772.77 $494,759.29
181 $494,759.29 $1,590.33 $0.00 $2,797.44 $499,147.06
182 $499,147.06 $1,590.33 $0.00 $2,822.25 $503,559.64
183 $503,559.64 $1,590.33 $0.00 $2,847.20 $507,997.17
184 $507,997.17 $1,590.33 $0.00 $2,872.29 $512,459.79
185 $512,459.79 $1,590.33 $0.00 $2,897.52 $516,947.64
186 $516,947.64 $1,590.33 $0.00 $2,922.90 $521,460.87
187 $521,460.87 $1,590.33 $0.00 $2,948.42 $525,999.62
188 $525,999.62 $1,590.33 $0.00 $2,974.08 $530,564.03
189 $530,564.03 $1,590.33 $0.00 $2,999.89 $535,154.25
190 $535,154.25 $1,590.33 $0.00 $3,025.84 $539,770.42
191 $539,770.42 $1,590.33 $0.00 $3,051.94 $544,412.69
192 $544,412.69 $1,590.33 $0.00 $3,078.19 $549,081.21
193 $549,081.21 $1,590.33 $0.00 $3,104.58 $553,776.12
194 $553,776.12 $1,590.33 $0.00 $3,131.13 $558,497.58
195 $558,497.58 $1,590.33 $0.00 $3,157.83 $563,245.74
196 $563,245.74 $1,590.33 $0.00 $3,184.67 $568,020.74
197 $568,020.74 $1,590.33 $0.00 $3,211.67 $572,822.74
198 $572,822.74 $1,590.33 $0.00 $3,238.82 $577,651.89
199 $577,651.89 $1,590.33 $0.00 $3,266.13 $582,508.35
200 $582,508.35 $1,590.33 $0.00 $3,293.59 $587,392.27
201 $587,392.27 $1,590.33 $0.00 $3,321.20 $592,303.80
202 $592,303.80 $1,590.33 $0.00 $3,348.97 $597,243.10
203 $597,243.10 $1,590.33 $0.00 $3,376.90 $602,210.33
204 $602,210.33 $1,590.33 $0.00 $3,404.98 $607,205.64
205 $607,205.64 $1,590.33 $0.00 $3,433.23 $612,229.20
206 $612,229.20 $1,590.33 $0.00 $3,461.63 $617,281.16
207 $617,281.16 $1,590.33 $0.00 $3,490.20 $622,361.69
208 $622,361.69 $1,590.33 $0.00 $3,518.92 $627,470.94
209 $627,470.94 $1,590.33 $0.00 $3,547.81 $632,609.08
210 $632,609.08 $1,590.33 $0.00 $3,576.86 $637,776.27
211 $637,776.27 $1,590.33 $0.00 $3,606.08 $642,972.68
212 $642,972.68 $1,590.33 $0.00 $3,635.46 $648,198.47
213 $648,198.47 $1,590.33 $0.00 $3,665.01 $653,453.81
214 $653,453.81 $1,590.33 $0.00 $3,694.72 $658,738.86
215 $658,738.86 $1,590.33 $0.00 $3,724.61 $664,053.80
216 $664,053.80 $1,590.33 $0.00 $3,754.66 $669,398.79
217 $669,398.79 $1,590.33 $186,450.42 $3,784.88 $488,323.58
218 $488,323.58 $1,590.33 $0.00 $2,761.05 $492,674.96
219 $492,674.96 $1,590.33 $0.00 $2,785.66 $497,050.95
220 $497,050.95 $1,590.33 $0.00 $2,810.40 $501,451.68
221 $501,451.68 $1,590.33 $0.00 $2,835.28 $505,877.29
222 $505,877.29 $1,590.33 $0.00 $2,860.30 $510,327.92
223 $510,327.92 $1,590.33 $0.00 $2,885.47 $514,803.72
224 $514,803.72 $1,590.33 $0.00 $2,910.78 $519,304.83
225 $519,304.83 $1,590.33 $0.00 $2,936.23 $523,831.39
226 $523,831.39 $1,590.33 $0.00 $2,961.82 $528,383.54
227 $528,383.54 $1,590.33 $0.00 $2,987.56 $532,961.43
228 $532,961.43 $1,590.33 $0.00 $3,013.44 $537,565.20
229 $537,565.20 $1,590.33 $195,772.94 $3,039.47 $346,422.06
230 $346,422.06 $1,590.33 $0.00 $1,958.72 $349,971.11
231 $349,971.11 $1,590.33 $0.00 $1,978.79 $353,540.23
232 $353,540.23 $1,590.33 $0.00 $1,998.97 $357,129.53
233 $357,129.53 $1,590.33 $0.00 $2,019.26 $360,739.12
234 $360,739.12 $1,590.33 $0.00 $2,039.67 $364,369.12
235 $364,369.12 $1,590.33 $0.00 $2,060.20 $368,019.65
236 $368,019.65 $1,590.33 $0.00 $2,080.84 $371,690.82
237 $371,690.82 $1,590.33 $0.00 $2,101.59 $375,382.74
238 $375,382.74 $1,590.33 $0.00 $2,122.47 $379,095.54
239 $379,095.54 $1,590.33 $0.00 $2,143.46 $382,829.33
240 $382,829.33 $1,590.33 $0.00 $2,164.57 $386,584.23
241 $386,584.23 $1,590.33 $205,561.59 $2,185.80 $184,798.77
242 $184,798.77 $1,590.33 $0.00 $1,044.88 $187,433.98
243 $187,433.98 $1,590.33 $0.00 $1,059.78 $190,084.09
244 $190,084.09 $1,590.33 $0.00 $1,074.76 $192,749.18
245 $192,749.18 $1,590.33 $0.00 $1,089.83 $195,429.34
246 $195,429.34 $1,590.33 $0.00 $1,104.99 $198,124.66
247 $198,124.66 $1,590.33 $0.00 $1,120.23 $200,835.22
248 $200,835.22 $1,590.33 $0.00 $1,135.55 $203,561.10
249 $203,561.10 $1,590.33 $0.00 $1,150.96 $206,302.39
250 $206,302.39 $1,590.33 $0.00 $1,166.46 $209,059.18
251 $209,059.18 $1,590.33 $0.00 $1,182.05 $211,831.56
252 $211,831.56 $1,590.33 $0.00 $1,197.73 $214,619.62
253 $214,619.62 $0.00 $215,839.67 $1,213.49 ($6.56)