Savings Plan and Future Cost Estimation for Eastern Mennonite University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$141,330
Monthly savings required$1,119

How much will it cost to send your child to Eastern Mennonite University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $565,319.22 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,118.74 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$54,500.00
Years until enrollment18
Annual Tuition Increase5%
Current Savings$0.00
After Tax Return on Savings7%
Years of enrollment4

Current Savings Shortfall

College Savings Calculator

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Discover how much will you need to start saving now to afford Eastern Mennonite University in the future.

Planned Savings Balance

College Savings Schedule

Month Begin Deposit Withdraw Interest End
1 $0.00 $1,118.74 $0.00 $0.00 $1,118.74
2 $1,118.74 $1,118.74 $0.00 $6.33 $2,243.81
3 $2,243.81 $1,118.74 $0.00 $12.69 $3,375.24
4 $3,375.24 $1,118.74 $0.00 $19.08 $4,513.06
5 $4,513.06 $1,118.74 $0.00 $25.52 $5,657.32
6 $5,657.32 $1,118.74 $0.00 $31.99 $6,808.05
7 $6,808.05 $1,118.74 $0.00 $38.49 $7,965.28
8 $7,965.28 $1,118.74 $0.00 $45.04 $9,129.06
9 $9,129.06 $1,118.74 $0.00 $51.62 $10,299.42
10 $10,299.42 $1,118.74 $0.00 $58.23 $11,476.39
11 $11,476.39 $1,118.74 $0.00 $64.89 $12,660.02
12 $12,660.02 $1,118.74 $0.00 $71.58 $13,850.34
13 $13,850.34 $1,118.74 $0.00 $78.31 $15,047.39
14 $15,047.39 $1,118.74 $0.00 $85.08 $16,251.21
15 $16,251.21 $1,118.74 $0.00 $91.89 $17,461.84
16 $17,461.84 $1,118.74 $0.00 $98.73 $18,679.31
17 $18,679.31 $1,118.74 $0.00 $105.62 $19,903.67
18 $19,903.67 $1,118.74 $0.00 $112.54 $21,134.95
19 $21,134.95 $1,118.74 $0.00 $119.50 $22,373.19
20 $22,373.19 $1,118.74 $0.00 $126.50 $23,618.43
21 $23,618.43 $1,118.74 $0.00 $133.54 $24,870.71
22 $24,870.71 $1,118.74 $0.00 $140.62 $26,130.07
23 $26,130.07 $1,118.74 $0.00 $147.74 $27,396.55
24 $27,396.55 $1,118.74 $0.00 $154.90 $28,670.19
25 $28,670.19 $1,118.74 $0.00 $162.11 $29,951.04
26 $29,951.04 $1,118.74 $0.00 $169.35 $31,239.13
27 $31,239.13 $1,118.74 $0.00 $176.63 $32,534.50
28 $32,534.50 $1,118.74 $0.00 $183.95 $33,837.19
29 $33,837.19 $1,118.74 $0.00 $191.32 $35,147.25
30 $35,147.25 $1,118.74 $0.00 $198.73 $36,464.72
31 $36,464.72 $1,118.74 $0.00 $206.18 $37,789.64
32 $37,789.64 $1,118.74 $0.00 $213.67 $39,122.05
33 $39,122.05 $1,118.74 $0.00 $221.20 $40,461.99
34 $40,461.99 $1,118.74 $0.00 $228.78 $41,809.51
35 $41,809.51 $1,118.74 $0.00 $236.40 $43,164.65
36 $43,164.65 $1,118.74 $0.00 $244.06 $44,527.45
37 $44,527.45 $1,118.74 $0.00 $251.76 $45,897.95
38 $45,897.95 $1,118.74 $0.00 $259.51 $47,276.20
39 $47,276.20 $1,118.74 $0.00 $267.31 $48,662.25
40 $48,662.25 $1,118.74 $0.00 $275.14 $50,056.13
41 $50,056.13 $1,118.74 $0.00 $283.02 $51,457.89
42 $51,457.89 $1,118.74 $0.00 $290.95 $52,867.58
43 $52,867.58 $1,118.74 $0.00 $298.92 $54,285.24
44 $54,285.24 $1,118.74 $0.00 $306.94 $55,710.92
45 $55,710.92 $1,118.74 $0.00 $315.00 $57,144.66
46 $57,144.66 $1,118.74 $0.00 $323.10 $58,586.50
47 $58,586.50 $1,118.74 $0.00 $331.26 $60,036.50
48 $60,036.50 $1,118.74 $0.00 $339.46 $61,494.70
49 $61,494.70 $1,118.74 $0.00 $347.70 $62,961.14
50 $62,961.14 $1,118.74 $0.00 $355.99 $64,435.87
51 $64,435.87 $1,118.74 $0.00 $364.33 $65,918.94
52 $65,918.94 $1,118.74 $0.00 $372.72 $67,410.40
53 $67,410.40 $1,118.74 $0.00 $381.15 $68,910.29
54 $68,910.29 $1,118.74 $0.00 $389.63 $70,418.66
55 $70,418.66 $1,118.74 $0.00 $398.16 $71,935.56
56 $71,935.56 $1,118.74 $0.00 $406.73 $73,461.03
57 $73,461.03 $1,118.74 $0.00 $415.36 $74,995.13
58 $74,995.13 $1,118.74 $0.00 $424.03 $76,537.90
59 $76,537.90 $1,118.74 $0.00 $432.76 $78,089.40
60 $78,089.40 $1,118.74 $0.00 $441.53 $79,649.67
61 $79,649.67 $1,118.74 $0.00 $450.35 $81,218.76
62 $81,218.76 $1,118.74 $0.00 $459.22 $82,796.72
63 $82,796.72 $1,118.74 $0.00 $468.14 $84,383.60
64 $84,383.60 $1,118.74 $0.00 $477.12 $85,979.46
65 $85,979.46 $1,118.74 $0.00 $486.14 $87,584.34
66 $87,584.34 $1,118.74 $0.00 $495.21 $89,198.29
67 $89,198.29 $1,118.74 $0.00 $504.34 $90,821.37
68 $90,821.37 $1,118.74 $0.00 $513.52 $92,453.63
69 $92,453.63 $1,118.74 $0.00 $522.75 $94,095.12
70 $94,095.12 $1,118.74 $0.00 $532.03 $95,745.89
71 $95,745.89 $1,118.74 $0.00 $541.36 $97,405.99
72 $97,405.99 $1,118.74 $0.00 $550.75 $99,075.48
73 $99,075.48 $1,118.74 $0.00 $560.19 $100,754.41
74 $100,754.41 $1,118.74 $0.00 $569.68 $102,442.83
75 $102,442.83 $1,118.74 $0.00 $579.23 $104,140.80
76 $104,140.80 $1,118.74 $0.00 $588.83 $105,848.37
77 $105,848.37 $1,118.74 $0.00 $598.48 $107,565.59
78 $107,565.59 $1,118.74 $0.00 $608.19 $109,292.52
79 $109,292.52 $1,118.74 $0.00 $617.96 $111,029.22
80 $111,029.22 $1,118.74 $0.00 $627.78 $112,775.74
81 $112,775.74 $1,118.74 $0.00 $637.65 $114,532.13
82 $114,532.13 $1,118.74 $0.00 $647.58 $116,298.45
83 $116,298.45 $1,118.74 $0.00 $657.57 $118,074.76
84 $118,074.76 $1,118.74 $0.00 $667.61 $119,861.11
85 $119,861.11 $1,118.74 $0.00 $677.71 $121,657.56
86 $121,657.56 $1,118.74 $0.00 $687.87 $123,464.17
87 $123,464.17 $1,118.74 $0.00 $698.08 $125,280.99
88 $125,280.99 $1,118.74 $0.00 $708.36 $127,108.09
89 $127,108.09 $1,118.74 $0.00 $718.69 $128,945.52
90 $128,945.52 $1,118.74 $0.00 $729.08 $130,793.34
91 $130,793.34 $1,118.74 $0.00 $739.52 $132,651.60
92 $132,651.60 $1,118.74 $0.00 $750.03 $134,520.37
93 $134,520.37 $1,118.74 $0.00 $760.60 $136,399.71
94 $136,399.71 $1,118.74 $0.00 $771.22 $138,289.67
95 $138,289.67 $1,118.74 $0.00 $781.91 $140,190.32
96 $140,190.32 $1,118.74 $0.00 $792.66 $142,101.72
97 $142,101.72 $1,118.74 $0.00 $803.46 $144,023.92
98 $144,023.92 $1,118.74 $0.00 $814.33 $145,956.99
99 $145,956.99 $1,118.74 $0.00 $825.26 $147,900.99
100 $147,900.99 $1,118.74 $0.00 $836.25 $149,855.98
101 $149,855.98 $1,118.74 $0.00 $847.31 $151,822.03
102 $151,822.03 $1,118.74 $0.00 $858.42 $153,799.19
103 $153,799.19 $1,118.74 $0.00 $869.60 $155,787.53
104 $155,787.53 $1,118.74 $0.00 $880.85 $157,787.12
105 $157,787.12 $1,118.74 $0.00 $892.15 $159,798.01
106 $159,798.01 $1,118.74 $0.00 $903.52 $161,820.27
107 $161,820.27 $1,118.74 $0.00 $914.96 $163,853.97
108 $163,853.97 $1,118.74 $0.00 $926.45 $165,899.16
109 $165,899.16 $1,118.74 $0.00 $938.02 $167,955.92
110 $167,955.92 $1,118.74 $0.00 $949.65 $170,024.31
111 $170,024.31 $1,118.74 $0.00 $961.34 $172,104.39
112 $172,104.39 $1,118.74 $0.00 $973.10 $174,196.23
113 $174,196.23 $1,118.74 $0.00 $984.93 $176,299.90
114 $176,299.90 $1,118.74 $0.00 $996.83 $178,415.47
115 $178,415.47 $1,118.74 $0.00 $1,008.79 $180,543.00
116 $180,543.00 $1,118.74 $0.00 $1,020.82 $182,682.56
117 $182,682.56 $1,118.74 $0.00 $1,032.91 $184,834.21
118 $184,834.21 $1,118.74 $0.00 $1,045.08 $186,998.03
119 $186,998.03 $1,118.74 $0.00 $1,057.31 $189,174.08
120 $189,174.08 $1,118.74 $0.00 $1,069.62 $191,362.44
121 $191,362.44 $1,118.74 $0.00 $1,081.99 $193,563.17
122 $193,563.17 $1,118.74 $0.00 $1,094.43 $195,776.34
123 $195,776.34 $1,118.74 $0.00 $1,106.95 $198,002.03
124 $198,002.03 $1,118.74 $0.00 $1,119.53 $200,240.30
125 $200,240.30 $1,118.74 $0.00 $1,132.19 $202,491.23
126 $202,491.23 $1,118.74 $0.00 $1,144.91 $204,754.88
127 $204,754.88 $1,118.74 $0.00 $1,157.71 $207,031.33
128 $207,031.33 $1,118.74 $0.00 $1,170.59 $209,320.66
129 $209,320.66 $1,118.74 $0.00 $1,183.53 $211,622.93
130 $211,622.93 $1,118.74 $0.00 $1,196.55 $213,938.22
131 $213,938.22 $1,118.74 $0.00 $1,209.64 $216,266.60
132 $216,266.60 $1,118.74 $0.00 $1,222.80 $218,608.14
133 $218,608.14 $1,118.74 $0.00 $1,236.04 $220,962.92
134 $220,962.92 $1,118.74 $0.00 $1,249.36 $223,331.02
135 $223,331.02 $1,118.74 $0.00 $1,262.75 $225,712.51
136 $225,712.51 $1,118.74 $0.00 $1,276.21 $228,107.46
137 $228,107.46 $1,118.74 $0.00 $1,289.75 $230,515.95
138 $230,515.95 $1,118.74 $0.00 $1,303.37 $232,938.06
139 $232,938.06 $1,118.74 $0.00 $1,317.07 $235,373.87
140 $235,373.87 $1,118.74 $0.00 $1,330.84 $237,823.45
141 $237,823.45 $1,118.74 $0.00 $1,344.69 $240,286.88
142 $240,286.88 $1,118.74 $0.00 $1,358.62 $242,764.24
143 $242,764.24 $1,118.74 $0.00 $1,372.62 $245,255.60
144 $245,255.60 $1,118.74 $0.00 $1,386.71 $247,761.05
145 $247,761.05 $1,118.74 $0.00 $1,400.88 $250,280.67
146 $250,280.67 $1,118.74 $0.00 $1,415.12 $252,814.53
147 $252,814.53 $1,118.74 $0.00 $1,429.45 $255,362.72
148 $255,362.72 $1,118.74 $0.00 $1,443.86 $257,925.32
149 $257,925.32 $1,118.74 $0.00 $1,458.35 $260,502.41
150 $260,502.41 $1,118.74 $0.00 $1,472.92 $263,094.07
151 $263,094.07 $1,118.74 $0.00 $1,487.57 $265,700.38
152 $265,700.38 $1,118.74 $0.00 $1,502.31 $268,321.43
153 $268,321.43 $1,118.74 $0.00 $1,517.13 $270,957.30
154 $270,957.30 $1,118.74 $0.00 $1,532.03 $273,608.07
155 $273,608.07 $1,118.74 $0.00 $1,547.02 $276,273.83
156 $276,273.83 $1,118.74 $0.00 $1,562.09 $278,954.66
157 $278,954.66 $1,118.74 $0.00 $1,577.25 $281,650.65
158 $281,650.65 $1,118.74 $0.00 $1,592.49 $284,361.88
159 $284,361.88 $1,118.74 $0.00 $1,607.82 $287,088.44
160 $287,088.44 $1,118.74 $0.00 $1,623.24 $289,830.42
161 $289,830.42 $1,118.74 $0.00 $1,638.74 $292,587.90
162 $292,587.90 $1,118.74 $0.00 $1,654.33 $295,360.97
163 $295,360.97 $1,118.74 $0.00 $1,670.01 $298,149.72
164 $298,149.72 $1,118.74 $0.00 $1,685.78 $300,954.24
165 $300,954.24 $1,118.74 $0.00 $1,701.64 $303,774.62
166 $303,774.62 $1,118.74 $0.00 $1,717.59 $306,610.95
167 $306,610.95 $1,118.74 $0.00 $1,733.62 $309,463.31
168 $309,463.31 $1,118.74 $0.00 $1,749.75 $312,331.80
169 $312,331.80 $1,118.74 $0.00 $1,765.97 $315,216.51
170 $315,216.51 $1,118.74 $0.00 $1,782.28 $318,117.53
171 $318,117.53 $1,118.74 $0.00 $1,798.68 $321,034.95
172 $321,034.95 $1,118.74 $0.00 $1,815.18 $323,968.87
173 $323,968.87 $1,118.74 $0.00 $1,831.77 $326,919.38
174 $326,919.38 $1,118.74 $0.00 $1,848.45 $329,886.57
175 $329,886.57 $1,118.74 $0.00 $1,865.23 $332,870.54
176 $332,870.54 $1,118.74 $0.00 $1,882.10 $335,871.38
177 $335,871.38 $1,118.74 $0.00 $1,899.07 $338,889.19
178 $338,889.19 $1,118.74 $0.00 $1,916.13 $341,924.06
179 $341,924.06 $1,118.74 $0.00 $1,933.29 $344,976.09
180 $344,976.09 $1,118.74 $0.00 $1,950.54 $348,045.37
181 $348,045.37 $1,118.74 $0.00 $1,967.90 $351,132.01
182 $351,132.01 $1,118.74 $0.00 $1,985.35 $354,236.10
183 $354,236.10 $1,118.74 $0.00 $2,002.90 $357,357.74
184 $357,357.74 $1,118.74 $0.00 $2,020.55 $360,497.03
185 $360,497.03 $1,118.74 $0.00 $2,038.30 $363,654.07
186 $363,654.07 $1,118.74 $0.00 $2,056.15 $366,828.96
187 $366,828.96 $1,118.74 $0.00 $2,074.10 $370,021.80
188 $370,021.80 $1,118.74 $0.00 $2,092.16 $373,232.70
189 $373,232.70 $1,118.74 $0.00 $2,110.31 $376,461.75
190 $376,461.75 $1,118.74 $0.00 $2,128.57 $379,709.06
191 $379,709.06 $1,118.74 $0.00 $2,146.93 $382,974.73
192 $382,974.73 $1,118.74 $0.00 $2,165.39 $386,258.86
193 $386,258.86 $1,118.74 $0.00 $2,183.96 $389,561.56
194 $389,561.56 $1,118.74 $0.00 $2,202.64 $392,882.94
195 $392,882.94 $1,118.74 $0.00 $2,221.42 $396,223.10
196 $396,223.10 $1,118.74 $0.00 $2,240.30 $399,582.14
197 $399,582.14 $1,118.74 $0.00 $2,259.30 $402,960.18
198 $402,960.18 $1,118.74 $0.00 $2,278.40 $406,357.32
199 $406,357.32 $1,118.74 $0.00 $2,297.60 $409,773.66
200 $409,773.66 $1,118.74 $0.00 $2,316.92 $413,209.32
201 $413,209.32 $1,118.74 $0.00 $2,336.35 $416,664.41
202 $416,664.41 $1,118.74 $0.00 $2,355.88 $420,139.03
203 $420,139.03 $1,118.74 $0.00 $2,375.53 $423,633.30
204 $423,633.30 $1,118.74 $0.00 $2,395.28 $427,147.32
205 $427,147.32 $1,118.74 $0.00 $2,415.15 $430,681.21
206 $430,681.21 $1,118.74 $0.00 $2,435.13 $434,235.08
207 $434,235.08 $1,118.74 $0.00 $2,455.23 $437,809.05
208 $437,809.05 $1,118.74 $0.00 $2,475.44 $441,403.23
209 $441,403.23 $1,118.74 $0.00 $2,495.76 $445,017.73
210 $445,017.73 $1,118.74 $0.00 $2,516.19 $448,652.66
211 $448,652.66 $1,118.74 $0.00 $2,536.75 $452,308.15
212 $452,308.15 $1,118.74 $0.00 $2,557.42 $455,984.31
213 $455,984.31 $1,118.74 $0.00 $2,578.20 $459,681.25
214 $459,681.25 $1,118.74 $0.00 $2,599.10 $463,399.09
215 $463,399.09 $1,118.74 $0.00 $2,620.13 $467,137.96
216 $467,137.96 $1,118.74 $0.00 $2,641.27 $470,897.97
217 $470,897.97 $1,118.74 $131,160.75 $2,662.53 $343,518.49
218 $343,518.49 $1,118.74 $0.00 $1,942.30 $346,579.53
219 $346,579.53 $1,118.74 $0.00 $1,959.61 $349,657.88
220 $349,657.88 $1,118.74 $0.00 $1,977.02 $352,753.64
221 $352,753.64 $1,118.74 $0.00 $1,994.52 $355,866.90
222 $355,866.90 $1,118.74 $0.00 $2,012.12 $358,997.76
223 $358,997.76 $1,118.74 $0.00 $2,029.83 $362,146.33
224 $362,146.33 $1,118.74 $0.00 $2,047.63 $365,312.70
225 $365,312.70 $1,118.74 $0.00 $2,065.53 $368,496.97
226 $368,496.97 $1,118.74 $0.00 $2,083.54 $371,699.25
227 $371,699.25 $1,118.74 $0.00 $2,101.64 $374,919.63
228 $374,919.63 $1,118.74 $0.00 $2,119.85 $378,158.22
229 $378,158.22 $1,118.74 $137,718.79 $2,138.16 $243,696.33
230 $243,696.33 $1,118.74 $0.00 $1,377.89 $246,192.96
231 $246,192.96 $1,118.74 $0.00 $1,392.01 $248,703.71
232 $248,703.71 $1,118.74 $0.00 $1,406.21 $251,228.66
233 $251,228.66 $1,118.74 $0.00 $1,420.48 $253,767.88
234 $253,767.88 $1,118.74 $0.00 $1,434.84 $256,321.46
235 $256,321.46 $1,118.74 $0.00 $1,449.28 $258,889.48
236 $258,889.48 $1,118.74 $0.00 $1,463.80 $261,472.02
237 $261,472.02 $1,118.74 $0.00 $1,478.40 $264,069.16
238 $264,069.16 $1,118.74 $0.00 $1,493.09 $266,680.99
239 $266,680.99 $1,118.74 $0.00 $1,507.85 $269,307.58
240 $269,307.58 $1,118.74 $0.00 $1,522.70 $271,949.02
241 $271,949.02 $1,118.74 $144,604.72 $1,537.64 $130,000.68
242 $130,000.68 $1,118.74 $0.00 $735.04 $131,854.46
243 $131,854.46 $1,118.74 $0.00 $745.52 $133,718.72
244 $133,718.72 $1,118.74 $0.00 $756.07 $135,593.53
245 $135,593.53 $1,118.74 $0.00 $766.67 $137,478.94
246 $137,478.94 $1,118.74 $0.00 $777.33 $139,375.01
247 $139,375.01 $1,118.74 $0.00 $788.05 $141,281.80
248 $141,281.80 $1,118.74 $0.00 $798.83 $143,199.37
249 $143,199.37 $1,118.74 $0.00 $809.67 $145,127.78
250 $145,127.78 $1,118.74 $0.00 $820.57 $147,067.09
251 $147,067.09 $1,118.74 $0.00 $831.54 $149,017.37
252 $149,017.37 $1,118.74 $0.00 $842.57 $150,978.68
253 $150,978.68 $0.00 $151,834.96 $853.66 ($2.62)