Savings Plan and Future Cost Estimation for South Dakota School of Mines and Technology

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2039$67,372
Monthly savings required$533

How much will it cost to send your child to South Dakota School of Mines and Technology in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $269,486.12 for students enrolling in 2039 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $533.31 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$25,980.00
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 $533.31 $0.00 $0.00 $533.31
2 $533.31 $533.31 $0.00 $3.02 $1,069.64
3 $1,069.64 $533.31 $0.00 $6.05 $1,609.00
4 $1,609.00 $533.31 $0.00 $9.10 $2,151.41
5 $2,151.41 $533.31 $0.00 $12.16 $2,696.88
6 $2,696.88 $533.31 $0.00 $15.25 $3,245.44
7 $3,245.44 $533.31 $0.00 $18.35 $3,797.10
8 $3,797.10 $533.31 $0.00 $21.47 $4,351.88
9 $4,351.88 $533.31 $0.00 $24.61 $4,909.80
10 $4,909.80 $533.31 $0.00 $27.76 $5,470.87
11 $5,470.87 $533.31 $0.00 $30.93 $6,035.11
12 $6,035.11 $533.31 $0.00 $34.12 $6,602.54
13 $6,602.54 $533.31 $0.00 $37.33 $7,173.18
14 $7,173.18 $533.31 $0.00 $40.56 $7,747.05
15 $7,747.05 $533.31 $0.00 $43.80 $8,324.16
16 $8,324.16 $533.31 $0.00 $47.07 $8,904.54
17 $8,904.54 $533.31 $0.00 $50.35 $9,488.20
18 $9,488.20 $533.31 $0.00 $53.65 $10,075.16
19 $10,075.16 $533.31 $0.00 $56.97 $10,665.44
20 $10,665.44 $533.31 $0.00 $60.30 $11,259.05
21 $11,259.05 $533.31 $0.00 $63.66 $11,856.02
22 $11,856.02 $533.31 $0.00 $67.04 $12,456.37
23 $12,456.37 $533.31 $0.00 $70.43 $13,060.11
24 $13,060.11 $533.31 $0.00 $73.84 $13,667.26
25 $13,667.26 $533.31 $0.00 $77.28 $14,277.85
26 $14,277.85 $533.31 $0.00 $80.73 $14,891.89
27 $14,891.89 $533.31 $0.00 $84.20 $15,509.40
28 $15,509.40 $533.31 $0.00 $87.69 $16,130.40
29 $16,130.40 $533.31 $0.00 $91.20 $16,754.91
30 $16,754.91 $533.31 $0.00 $94.73 $17,382.95
31 $17,382.95 $533.31 $0.00 $98.29 $18,014.55
32 $18,014.55 $533.31 $0.00 $101.86 $18,649.72
33 $18,649.72 $533.31 $0.00 $105.45 $19,288.48
34 $19,288.48 $533.31 $0.00 $109.06 $19,930.85
35 $19,930.85 $533.31 $0.00 $112.69 $20,576.85
36 $20,576.85 $533.31 $0.00 $116.34 $21,226.50
37 $21,226.50 $533.31 $0.00 $120.02 $21,879.83
38 $21,879.83 $533.31 $0.00 $123.71 $22,536.85
39 $22,536.85 $533.31 $0.00 $127.43 $23,197.59
40 $23,197.59 $533.31 $0.00 $131.16 $23,862.06
41 $23,862.06 $533.31 $0.00 $134.92 $24,530.29
42 $24,530.29 $533.31 $0.00 $138.70 $25,202.30
43 $25,202.30 $533.31 $0.00 $142.50 $25,878.11
44 $25,878.11 $533.31 $0.00 $146.32 $26,557.74
45 $26,557.74 $533.31 $0.00 $150.16 $27,241.21
46 $27,241.21 $533.31 $0.00 $154.03 $27,928.55
47 $27,928.55 $533.31 $0.00 $157.91 $28,619.77
48 $28,619.77 $533.31 $0.00 $161.82 $29,314.90
49 $29,314.90 $533.31 $0.00 $165.75 $30,013.96
50 $30,013.96 $533.31 $0.00 $169.70 $30,716.97
51 $30,716.97 $533.31 $0.00 $173.68 $31,423.96
52 $31,423.96 $533.31 $0.00 $177.68 $32,134.95
53 $32,134.95 $533.31 $0.00 $181.70 $32,849.96
54 $32,849.96 $533.31 $0.00 $185.74 $33,569.01
55 $33,569.01 $533.31 $0.00 $189.80 $34,292.12
56 $34,292.12 $533.31 $0.00 $193.89 $35,019.32
57 $35,019.32 $533.31 $0.00 $198.00 $35,750.63
58 $35,750.63 $533.31 $0.00 $202.14 $36,486.08
59 $36,486.08 $533.31 $0.00 $206.30 $37,225.69
60 $37,225.69 $533.31 $0.00 $210.48 $37,969.48
61 $37,969.48 $533.31 $0.00 $214.68 $38,717.47
62 $38,717.47 $533.31 $0.00 $218.91 $39,469.69
63 $39,469.69 $533.31 $0.00 $223.17 $40,226.17
64 $40,226.17 $533.31 $0.00 $227.44 $40,986.92
65 $40,986.92 $533.31 $0.00 $231.75 $41,751.98
66 $41,751.98 $533.31 $0.00 $236.07 $42,521.36
67 $42,521.36 $533.31 $0.00 $240.42 $43,295.09
68 $43,295.09 $533.31 $0.00 $244.80 $44,073.20
69 $44,073.20 $533.31 $0.00 $249.20 $44,855.71
70 $44,855.71 $533.31 $0.00 $253.62 $45,642.64
71 $45,642.64 $533.31 $0.00 $258.07 $46,434.02
72 $46,434.02 $533.31 $0.00 $262.54 $47,229.87
73 $47,229.87 $533.31 $0.00 $267.04 $48,030.22
74 $48,030.22 $533.31 $0.00 $271.57 $48,835.10
75 $48,835.10 $533.31 $0.00 $276.12 $49,644.53
76 $49,644.53 $533.31 $0.00 $280.70 $50,458.54
77 $50,458.54 $533.31 $0.00 $285.30 $51,277.15
78 $51,277.15 $533.31 $0.00 $289.93 $52,100.39
79 $52,100.39 $533.31 $0.00 $294.58 $52,928.28
80 $52,928.28 $533.31 $0.00 $299.26 $53,760.85
81 $53,760.85 $533.31 $0.00 $303.97 $54,598.13
82 $54,598.13 $533.31 $0.00 $308.71 $55,440.15
83 $55,440.15 $533.31 $0.00 $313.47 $56,286.93
84 $56,286.93 $533.31 $0.00 $318.25 $57,138.49
85 $57,138.49 $533.31 $0.00 $323.07 $57,994.87
86 $57,994.87 $533.31 $0.00 $327.91 $58,856.09
87 $58,856.09 $533.31 $0.00 $332.78 $59,722.18
88 $59,722.18 $533.31 $0.00 $337.68 $60,593.17
89 $60,593.17 $533.31 $0.00 $342.60 $61,469.08
90 $61,469.08 $533.31 $0.00 $347.56 $62,349.95
91 $62,349.95 $533.31 $0.00 $352.54 $63,235.80
92 $63,235.80 $533.31 $0.00 $357.54 $64,126.65
93 $64,126.65 $533.31 $0.00 $362.58 $65,022.54
94 $65,022.54 $533.31 $0.00 $367.65 $65,923.50
95 $65,923.50 $533.31 $0.00 $372.74 $66,829.55
96 $66,829.55 $533.31 $0.00 $377.86 $67,740.72
97 $67,740.72 $533.31 $0.00 $383.02 $68,657.05
98 $68,657.05 $533.31 $0.00 $388.20 $69,578.56
99 $69,578.56 $533.31 $0.00 $393.41 $70,505.28
100 $70,505.28 $533.31 $0.00 $398.65 $71,437.24
101 $71,437.24 $533.31 $0.00 $403.92 $72,374.47
102 $72,374.47 $533.31 $0.00 $409.22 $73,317.00
103 $73,317.00 $533.31 $0.00 $414.54 $74,264.85
104 $74,264.85 $533.31 $0.00 $419.90 $75,218.06
105 $75,218.06 $533.31 $0.00 $425.29 $76,176.66
106 $76,176.66 $533.31 $0.00 $430.71 $77,140.68
107 $77,140.68 $533.31 $0.00 $436.16 $78,110.15
108 $78,110.15 $533.31 $0.00 $441.65 $79,085.11
109 $79,085.11 $533.31 $0.00 $447.16 $80,065.58
110 $80,065.58 $533.31 $0.00 $452.70 $81,051.59
111 $81,051.59 $533.31 $0.00 $458.28 $82,043.18
112 $82,043.18 $533.31 $0.00 $463.88 $83,040.37
113 $83,040.37 $533.31 $0.00 $469.52 $84,043.20
114 $84,043.20 $533.31 $0.00 $475.19 $85,051.70
115 $85,051.70 $533.31 $0.00 $480.89 $86,065.90
116 $86,065.90 $533.31 $0.00 $486.63 $87,085.84
117 $87,085.84 $533.31 $0.00 $492.40 $88,111.55
118 $88,111.55 $533.31 $0.00 $498.20 $89,143.06
119 $89,143.06 $533.31 $0.00 $504.03 $90,180.40
120 $90,180.40 $533.31 $0.00 $509.89 $91,223.60
121 $91,223.60 $533.31 $0.00 $515.79 $92,272.70
122 $92,272.70 $533.31 $0.00 $521.72 $93,327.73
123 $93,327.73 $533.31 $0.00 $527.69 $94,388.73
124 $94,388.73 $533.31 $0.00 $533.69 $95,455.73
125 $95,455.73 $533.31 $0.00 $539.72 $96,528.76
126 $96,528.76 $533.31 $0.00 $545.79 $97,607.86
127 $97,607.86 $533.31 $0.00 $551.89 $98,693.06
128 $98,693.06 $533.31 $0.00 $558.02 $99,784.39
129 $99,784.39 $533.31 $0.00 $564.20 $100,881.90
130 $100,881.90 $533.31 $0.00 $570.40 $101,985.61
131 $101,985.61 $533.31 $0.00 $576.64 $103,095.56
132 $103,095.56 $533.31 $0.00 $582.92 $104,211.79
133 $104,211.79 $533.31 $0.00 $589.23 $105,334.33
134 $105,334.33 $533.31 $0.00 $595.58 $106,463.22
135 $106,463.22 $533.31 $0.00 $601.96 $107,598.49
136 $107,598.49 $533.31 $0.00 $608.38 $108,740.18
137 $108,740.18 $533.31 $0.00 $614.83 $109,888.32
138 $109,888.32 $533.31 $0.00 $621.32 $111,042.95
139 $111,042.95 $533.31 $0.00 $627.85 $112,204.11
140 $112,204.11 $533.31 $0.00 $634.42 $113,371.84
141 $113,371.84 $533.31 $0.00 $641.02 $114,546.17
142 $114,546.17 $533.31 $0.00 $647.66 $115,727.14
143 $115,727.14 $533.31 $0.00 $654.34 $116,914.79
144 $116,914.79 $533.31 $0.00 $661.05 $118,109.15
145 $118,109.15 $533.31 $0.00 $667.81 $119,310.27
146 $119,310.27 $533.31 $0.00 $674.60 $120,518.18
147 $120,518.18 $533.31 $0.00 $681.43 $121,732.92
148 $121,732.92 $533.31 $0.00 $688.30 $122,954.53
149 $122,954.53 $533.31 $0.00 $695.20 $124,183.04
150 $124,183.04 $533.31 $0.00 $702.15 $125,418.50
151 $125,418.50 $533.31 $0.00 $709.13 $126,660.94
152 $126,660.94 $533.31 $0.00 $716.16 $127,910.41
153 $127,910.41 $533.31 $0.00 $723.22 $129,166.94
154 $129,166.94 $533.31 $0.00 $730.33 $130,430.58
155 $130,430.58 $533.31 $0.00 $737.47 $131,701.36
156 $131,701.36 $533.31 $0.00 $744.66 $132,979.33
157 $132,979.33 $533.31 $0.00 $751.88 $134,264.52
158 $134,264.52 $533.31 $0.00 $759.15 $135,556.98
159 $135,556.98 $533.31 $0.00 $766.46 $136,856.75
160 $136,856.75 $533.31 $0.00 $773.81 $138,163.87
161 $138,163.87 $533.31 $0.00 $781.20 $139,478.38
162 $139,478.38 $533.31 $0.00 $788.63 $140,800.32
163 $140,800.32 $533.31 $0.00 $796.11 $142,129.74
164 $142,129.74 $533.31 $0.00 $803.62 $143,466.67
165 $143,466.67 $533.31 $0.00 $811.18 $144,811.16
166 $144,811.16 $533.31 $0.00 $818.78 $146,163.25
167 $146,163.25 $533.31 $0.00 $826.43 $147,522.99
168 $147,522.99 $533.31 $0.00 $834.12 $148,890.42
169 $148,890.42 $533.31 $0.00 $841.85 $150,265.58
170 $150,265.58 $533.31 $0.00 $849.62 $151,648.51
171 $151,648.51 $533.31 $0.00 $857.44 $153,039.26
172 $153,039.26 $533.31 $0.00 $865.31 $154,437.88
173 $154,437.88 $533.31 $0.00 $873.21 $155,844.40
174 $155,844.40 $533.31 $0.00 $881.17 $157,258.88
175 $157,258.88 $533.31 $0.00 $889.16 $158,681.35
176 $158,681.35 $533.31 $0.00 $897.21 $160,111.87
177 $160,111.87 $533.31 $0.00 $905.30 $161,550.48
178 $161,550.48 $533.31 $0.00 $913.43 $162,997.22
179 $162,997.22 $533.31 $0.00 $921.61 $164,452.14
180 $164,452.14 $533.31 $0.00 $929.84 $165,915.29
181 $165,915.29 $533.31 $0.00 $938.11 $167,386.71
182 $167,386.71 $533.31 $0.00 $946.43 $168,866.45
183 $168,866.45 $533.31 $0.00 $954.80 $170,354.56
184 $170,354.56 $533.31 $0.00 $963.21 $171,851.08
185 $171,851.08 $533.31 $0.00 $971.67 $173,356.06
186 $173,356.06 $533.31 $0.00 $980.18 $174,869.55
187 $174,869.55 $533.31 $0.00 $988.74 $176,391.60
188 $176,391.60 $533.31 $0.00 $997.34 $177,922.25
189 $177,922.25 $533.31 $0.00 $1,006.00 $179,461.56
190 $179,461.56 $533.31 $0.00 $1,014.70 $181,009.57
191 $181,009.57 $533.31 $0.00 $1,023.45 $182,566.33
192 $182,566.33 $533.31 $0.00 $1,032.26 $184,131.90
193 $184,131.90 $533.31 $0.00 $1,041.11 $185,706.32
194 $185,706.32 $533.31 $0.00 $1,050.01 $187,289.64
195 $187,289.64 $533.31 $0.00 $1,058.96 $188,881.91
196 $188,881.91 $533.31 $0.00 $1,067.97 $190,483.19
197 $190,483.19 $533.31 $0.00 $1,077.02 $192,093.52
198 $192,093.52 $533.31 $0.00 $1,086.12 $193,712.95
199 $193,712.95 $533.31 $0.00 $1,095.28 $195,341.54
200 $195,341.54 $533.31 $0.00 $1,104.49 $196,979.34
201 $196,979.34 $533.31 $0.00 $1,113.75 $198,626.40
202 $198,626.40 $533.31 $0.00 $1,123.06 $200,282.77
203 $200,282.77 $533.31 $0.00 $1,132.43 $201,948.51
204 $201,948.51 $533.31 $0.00 $1,141.85 $203,623.67
205 $203,623.67 $533.31 $0.00 $1,151.32 $205,308.30
206 $205,308.30 $533.31 $0.00 $1,160.84 $207,002.45
207 $207,002.45 $533.31 $0.00 $1,170.42 $208,706.18
208 $208,706.18 $533.31 $0.00 $1,180.06 $210,419.55
209 $210,419.55 $533.31 $0.00 $1,189.74 $212,142.60
210 $212,142.60 $533.31 $0.00 $1,199.49 $213,875.40
211 $213,875.40 $533.31 $0.00 $1,209.28 $215,617.99
212 $215,617.99 $533.31 $0.00 $1,219.14 $217,370.44
213 $217,370.44 $533.31 $0.00 $1,229.04 $219,132.79
214 $219,132.79 $533.31 $0.00 $1,239.01 $220,905.11
215 $220,905.11 $533.31 $0.00 $1,249.03 $222,687.45
216 $222,687.45 $533.31 $0.00 $1,259.11 $224,479.87
217 $224,479.87 $533.31 $62,523.97 $1,269.24 $163,758.45
218 $163,758.45 $533.31 $0.00 $925.91 $165,217.67
219 $165,217.67 $533.31 $0.00 $934.16 $166,685.14
220 $166,685.14 $533.31 $0.00 $942.46 $168,160.91
221 $168,160.91 $533.31 $0.00 $950.81 $169,645.03
222 $169,645.03 $533.31 $0.00 $959.20 $171,137.54
223 $171,137.54 $533.31 $0.00 $967.64 $172,638.49
224 $172,638.49 $533.31 $0.00 $976.12 $174,147.92
225 $174,147.92 $533.31 $0.00 $984.66 $175,665.89
226 $175,665.89 $533.31 $0.00 $993.24 $177,192.44
227 $177,192.44 $533.31 $0.00 $1,001.87 $178,727.62
228 $178,727.62 $533.31 $0.00 $1,010.55 $180,271.48
229 $180,271.48 $533.31 $65,650.17 $1,019.28 $116,173.90
230 $116,173.90 $533.31 $0.00 $656.86 $117,364.07
231 $117,364.07 $533.31 $0.00 $663.59 $118,560.97
232 $118,560.97 $533.31 $0.00 $670.36 $119,764.64
233 $119,764.64 $533.31 $0.00 $677.17 $120,975.12
234 $120,975.12 $533.31 $0.00 $684.01 $122,192.44
235 $122,192.44 $533.31 $0.00 $690.89 $123,416.64
236 $123,416.64 $533.31 $0.00 $697.82 $124,647.77
237 $124,647.77 $533.31 $0.00 $704.78 $125,885.86
238 $125,885.86 $533.31 $0.00 $711.78 $127,130.95
239 $127,130.95 $533.31 $0.00 $718.82 $128,383.08
240 $128,383.08 $533.31 $0.00 $725.90 $129,642.29
241 $129,642.29 $533.31 $68,932.67 $733.02 $61,975.95
242 $61,975.95 $533.31 $0.00 $350.42 $62,859.68
243 $62,859.68 $533.31 $0.00 $355.42 $63,748.41
244 $63,748.41 $533.31 $0.00 $360.44 $64,642.16
245 $64,642.16 $533.31 $0.00 $365.50 $65,540.97
246 $65,540.97 $533.31 $0.00 $370.58 $66,444.86
247 $66,444.86 $533.31 $0.00 $375.69 $67,353.86
248 $67,353.86 $533.31 $0.00 $380.83 $68,268.00
249 $68,268.00 $533.31 $0.00 $386.00 $69,187.31
250 $69,187.31 $533.31 $0.00 $391.20 $70,111.82
251 $70,111.82 $533.31 $0.00 $396.42 $71,041.55
252 $71,041.55 $533.31 $0.00 $401.68 $71,976.54
253 $71,976.54 $0.00 $72,379.31 $406.97 $4.20