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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$133,550
Monthly savings required$1,057

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 $534,200.73 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,057.17 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$51,500.00
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 $1,057.17 $0.00 $0.00 $1,057.17
2 $1,057.17 $1,057.17 $0.00 $5.98 $2,120.32
3 $2,120.32 $1,057.17 $0.00 $11.99 $3,189.48
4 $3,189.48 $1,057.17 $0.00 $18.03 $4,264.68
5 $4,264.68 $1,057.17 $0.00 $24.11 $5,345.96
6 $5,345.96 $1,057.17 $0.00 $30.23 $6,433.36
7 $6,433.36 $1,057.17 $0.00 $36.38 $7,526.91
8 $7,526.91 $1,057.17 $0.00 $42.56 $8,626.64
9 $8,626.64 $1,057.17 $0.00 $48.78 $9,732.59
10 $9,732.59 $1,057.17 $0.00 $55.03 $10,844.79
11 $10,844.79 $1,057.17 $0.00 $61.32 $11,963.28
12 $11,963.28 $1,057.17 $0.00 $67.64 $13,088.09
13 $13,088.09 $1,057.17 $0.00 $74.00 $14,219.26
14 $14,219.26 $1,057.17 $0.00 $80.40 $15,356.83
15 $15,356.83 $1,057.17 $0.00 $86.83 $16,500.83
16 $16,500.83 $1,057.17 $0.00 $93.30 $17,651.30
17 $17,651.30 $1,057.17 $0.00 $99.80 $18,808.27
18 $18,808.27 $1,057.17 $0.00 $106.34 $19,971.78
19 $19,971.78 $1,057.17 $0.00 $112.92 $21,141.87
20 $21,141.87 $1,057.17 $0.00 $119.54 $22,318.58
21 $22,318.58 $1,057.17 $0.00 $126.19 $23,501.94
22 $23,501.94 $1,057.17 $0.00 $132.88 $24,691.99
23 $24,691.99 $1,057.17 $0.00 $139.61 $25,888.77
24 $25,888.77 $1,057.17 $0.00 $146.38 $27,092.32
25 $27,092.32 $1,057.17 $0.00 $153.18 $28,302.67
26 $28,302.67 $1,057.17 $0.00 $160.03 $29,519.87
27 $29,519.87 $1,057.17 $0.00 $166.91 $30,743.95
28 $30,743.95 $1,057.17 $0.00 $173.83 $31,974.95
29 $31,974.95 $1,057.17 $0.00 $180.79 $33,212.91
30 $33,212.91 $1,057.17 $0.00 $187.79 $34,457.87
31 $34,457.87 $1,057.17 $0.00 $194.83 $35,709.87
32 $35,709.87 $1,057.17 $0.00 $201.91 $36,968.95
33 $36,968.95 $1,057.17 $0.00 $209.03 $38,235.15
34 $38,235.15 $1,057.17 $0.00 $216.19 $39,508.51
35 $39,508.51 $1,057.17 $0.00 $223.39 $40,789.07
36 $40,789.07 $1,057.17 $0.00 $230.63 $42,076.87
37 $42,076.87 $1,057.17 $0.00 $237.91 $43,371.95
38 $43,371.95 $1,057.17 $0.00 $245.23 $44,674.35
39 $44,674.35 $1,057.17 $0.00 $252.60 $45,984.12
40 $45,984.12 $1,057.17 $0.00 $260.00 $47,301.29
41 $47,301.29 $1,057.17 $0.00 $267.45 $48,625.91
42 $48,625.91 $1,057.17 $0.00 $274.94 $49,958.02
43 $49,958.02 $1,057.17 $0.00 $282.47 $51,297.66
44 $51,297.66 $1,057.17 $0.00 $290.04 $52,644.87
45 $52,644.87 $1,057.17 $0.00 $297.66 $53,999.70
46 $53,999.70 $1,057.17 $0.00 $305.32 $55,362.19
47 $55,362.19 $1,057.17 $0.00 $313.03 $56,732.39
48 $56,732.39 $1,057.17 $0.00 $320.77 $58,110.33
49 $58,110.33 $1,057.17 $0.00 $328.56 $59,496.06
50 $59,496.06 $1,057.17 $0.00 $336.40 $60,889.63
51 $60,889.63 $1,057.17 $0.00 $344.28 $62,291.08
52 $62,291.08 $1,057.17 $0.00 $352.20 $63,700.45
53 $63,700.45 $1,057.17 $0.00 $360.17 $65,117.79
54 $65,117.79 $1,057.17 $0.00 $368.19 $66,543.15
55 $66,543.15 $1,057.17 $0.00 $376.24 $67,976.56
56 $67,976.56 $1,057.17 $0.00 $384.35 $69,418.08
57 $69,418.08 $1,057.17 $0.00 $392.50 $70,867.75
58 $70,867.75 $1,057.17 $0.00 $400.70 $72,325.62
59 $72,325.62 $1,057.17 $0.00 $408.94 $73,791.73
60 $73,791.73 $1,057.17 $0.00 $417.23 $75,266.13
61 $75,266.13 $1,057.17 $0.00 $425.57 $76,748.87
62 $76,748.87 $1,057.17 $0.00 $433.95 $78,239.99
63 $78,239.99 $1,057.17 $0.00 $442.38 $79,739.54
64 $79,739.54 $1,057.17 $0.00 $450.86 $81,247.57
65 $81,247.57 $1,057.17 $0.00 $459.39 $82,764.13
66 $82,764.13 $1,057.17 $0.00 $467.96 $84,289.26
67 $84,289.26 $1,057.17 $0.00 $476.58 $85,823.01
68 $85,823.01 $1,057.17 $0.00 $485.26 $87,365.44
69 $87,365.44 $1,057.17 $0.00 $493.98 $88,916.59
70 $88,916.59 $1,057.17 $0.00 $502.75 $90,476.51
71 $90,476.51 $1,057.17 $0.00 $511.57 $92,045.25
72 $92,045.25 $1,057.17 $0.00 $520.44 $93,622.86
73 $93,622.86 $1,057.17 $0.00 $529.36 $95,209.39
74 $95,209.39 $1,057.17 $0.00 $538.33 $96,804.89
75 $96,804.89 $1,057.17 $0.00 $547.35 $98,409.41
76 $98,409.41 $1,057.17 $0.00 $556.42 $100,023.00
77 $100,023.00 $1,057.17 $0.00 $565.54 $101,645.71
78 $101,645.71 $1,057.17 $0.00 $574.72 $103,277.60
79 $103,277.60 $1,057.17 $0.00 $583.95 $104,918.72
80 $104,918.72 $1,057.17 $0.00 $593.23 $106,569.12
81 $106,569.12 $1,057.17 $0.00 $602.56 $108,228.85
82 $108,228.85 $1,057.17 $0.00 $611.94 $109,897.96
83 $109,897.96 $1,057.17 $0.00 $621.38 $111,576.51
84 $111,576.51 $1,057.17 $0.00 $630.87 $113,264.55
85 $113,264.55 $1,057.17 $0.00 $640.41 $114,962.13
86 $114,962.13 $1,057.17 $0.00 $650.01 $116,669.31
87 $116,669.31 $1,057.17 $0.00 $659.67 $118,386.15
88 $118,386.15 $1,057.17 $0.00 $669.37 $120,112.69
89 $120,112.69 $1,057.17 $0.00 $679.13 $121,848.99
90 $121,848.99 $1,057.17 $0.00 $688.95 $123,595.11
91 $123,595.11 $1,057.17 $0.00 $698.82 $125,351.10
92 $125,351.10 $1,057.17 $0.00 $708.75 $127,117.02
93 $127,117.02 $1,057.17 $0.00 $718.74 $128,892.93
94 $128,892.93 $1,057.17 $0.00 $728.78 $130,678.88
95 $130,678.88 $1,057.17 $0.00 $738.88 $132,474.93
96 $132,474.93 $1,057.17 $0.00 $749.03 $134,281.13
97 $134,281.13 $1,057.17 $0.00 $759.25 $136,097.55
98 $136,097.55 $1,057.17 $0.00 $769.52 $137,924.24
99 $137,924.24 $1,057.17 $0.00 $779.84 $139,761.25
100 $139,761.25 $1,057.17 $0.00 $790.23 $141,608.65
101 $141,608.65 $1,057.17 $0.00 $800.68 $143,466.50
102 $143,466.50 $1,057.17 $0.00 $811.18 $145,334.85
103 $145,334.85 $1,057.17 $0.00 $821.74 $147,213.76
104 $147,213.76 $1,057.17 $0.00 $832.37 $149,103.30
105 $149,103.30 $1,057.17 $0.00 $843.05 $151,003.52
106 $151,003.52 $1,057.17 $0.00 $853.80 $152,914.49
107 $152,914.49 $1,057.17 $0.00 $864.60 $154,836.26
108 $154,836.26 $1,057.17 $0.00 $875.47 $156,768.90
109 $156,768.90 $1,057.17 $0.00 $886.39 $158,712.46
110 $158,712.46 $1,057.17 $0.00 $897.38 $160,667.01
111 $160,667.01 $1,057.17 $0.00 $908.43 $162,632.61
112 $162,632.61 $1,057.17 $0.00 $919.55 $164,609.33
113 $164,609.33 $1,057.17 $0.00 $930.73 $166,597.23
114 $166,597.23 $1,057.17 $0.00 $941.96 $168,596.36
115 $168,596.36 $1,057.17 $0.00 $953.27 $170,606.80
116 $170,606.80 $1,057.17 $0.00 $964.64 $172,628.61
117 $172,628.61 $1,057.17 $0.00 $976.07 $174,661.85
118 $174,661.85 $1,057.17 $0.00 $987.56 $176,706.58
119 $176,706.58 $1,057.17 $0.00 $999.12 $178,762.87
120 $178,762.87 $1,057.17 $0.00 $1,010.75 $180,830.79
121 $180,830.79 $1,057.17 $0.00 $1,022.44 $182,910.40
122 $182,910.40 $1,057.17 $0.00 $1,034.20 $185,001.77
123 $185,001.77 $1,057.17 $0.00 $1,046.03 $187,104.97
124 $187,104.97 $1,057.17 $0.00 $1,057.92 $189,220.06
125 $189,220.06 $1,057.17 $0.00 $1,069.88 $191,347.11
126 $191,347.11 $1,057.17 $0.00 $1,081.90 $193,486.18
127 $193,486.18 $1,057.17 $0.00 $1,094.00 $195,637.35
128 $195,637.35 $1,057.17 $0.00 $1,106.16 $197,800.68
129 $197,800.68 $1,057.17 $0.00 $1,118.39 $199,976.24
130 $199,976.24 $1,057.17 $0.00 $1,130.69 $202,164.10
131 $202,164.10 $1,057.17 $0.00 $1,143.07 $204,364.34
132 $204,364.34 $1,057.17 $0.00 $1,155.51 $206,577.02
133 $206,577.02 $1,057.17 $0.00 $1,168.02 $208,802.21
134 $208,802.21 $1,057.17 $0.00 $1,180.60 $211,039.98
135 $211,039.98 $1,057.17 $0.00 $1,193.25 $213,290.40
136 $213,290.40 $1,057.17 $0.00 $1,205.97 $215,553.54
137 $215,553.54 $1,057.17 $0.00 $1,218.77 $217,829.48
138 $217,829.48 $1,057.17 $0.00 $1,231.64 $220,118.29
139 $220,118.29 $1,057.17 $0.00 $1,244.58 $222,420.04
140 $222,420.04 $1,057.17 $0.00 $1,257.60 $224,734.81
141 $224,734.81 $1,057.17 $0.00 $1,270.68 $227,062.66
142 $227,062.66 $1,057.17 $0.00 $1,283.85 $229,403.68
143 $229,403.68 $1,057.17 $0.00 $1,297.08 $231,757.93
144 $231,757.93 $1,057.17 $0.00 $1,310.39 $234,125.49
145 $234,125.49 $1,057.17 $0.00 $1,323.78 $236,506.44
146 $236,506.44 $1,057.17 $0.00 $1,337.24 $238,900.85
147 $238,900.85 $1,057.17 $0.00 $1,350.78 $241,308.80
148 $241,308.80 $1,057.17 $0.00 $1,364.40 $243,730.37
149 $243,730.37 $1,057.17 $0.00 $1,378.09 $246,165.63
150 $246,165.63 $1,057.17 $0.00 $1,391.86 $248,614.66
151 $248,614.66 $1,057.17 $0.00 $1,405.70 $251,077.53
152 $251,077.53 $1,057.17 $0.00 $1,419.63 $253,554.33
153 $253,554.33 $1,057.17 $0.00 $1,433.63 $256,045.13
154 $256,045.13 $1,057.17 $0.00 $1,447.72 $258,550.02
155 $258,550.02 $1,057.17 $0.00 $1,461.88 $261,069.07
156 $261,069.07 $1,057.17 $0.00 $1,476.12 $263,602.36
157 $263,602.36 $1,057.17 $0.00 $1,490.45 $266,149.98
158 $266,149.98 $1,057.17 $0.00 $1,504.85 $268,712.00
159 $268,712.00 $1,057.17 $0.00 $1,519.34 $271,288.51
160 $271,288.51 $1,057.17 $0.00 $1,533.90 $273,879.58
161 $273,879.58 $1,057.17 $0.00 $1,548.55 $276,485.30
162 $276,485.30 $1,057.17 $0.00 $1,563.29 $279,105.76
163 $279,105.76 $1,057.17 $0.00 $1,578.10 $281,741.03
164 $281,741.03 $1,057.17 $0.00 $1,593.00 $284,391.20
165 $284,391.20 $1,057.17 $0.00 $1,607.99 $287,056.36
166 $287,056.36 $1,057.17 $0.00 $1,623.06 $289,736.59
167 $289,736.59 $1,057.17 $0.00 $1,638.21 $292,431.97
168 $292,431.97 $1,057.17 $0.00 $1,653.45 $295,142.59
169 $295,142.59 $1,057.17 $0.00 $1,668.78 $297,868.54
170 $297,868.54 $1,057.17 $0.00 $1,684.19 $300,609.90
171 $300,609.90 $1,057.17 $0.00 $1,699.69 $303,366.76
172 $303,366.76 $1,057.17 $0.00 $1,715.28 $306,139.21
173 $306,139.21 $1,057.17 $0.00 $1,730.96 $308,927.34
174 $308,927.34 $1,057.17 $0.00 $1,746.72 $311,731.23
175 $311,731.23 $1,057.17 $0.00 $1,762.57 $314,550.97
176 $314,550.97 $1,057.17 $0.00 $1,778.52 $317,386.66
177 $317,386.66 $1,057.17 $0.00 $1,794.55 $320,238.38
178 $320,238.38 $1,057.17 $0.00 $1,810.67 $323,106.22
179 $323,106.22 $1,057.17 $0.00 $1,826.89 $325,990.28
180 $325,990.28 $1,057.17 $0.00 $1,843.20 $328,890.65
181 $328,890.65 $1,057.17 $0.00 $1,859.60 $331,807.42
182 $331,807.42 $1,057.17 $0.00 $1,876.09 $334,740.68
183 $334,740.68 $1,057.17 $0.00 $1,892.67 $337,690.52
184 $337,690.52 $1,057.17 $0.00 $1,909.35 $340,657.04
185 $340,657.04 $1,057.17 $0.00 $1,926.12 $343,640.33
186 $343,640.33 $1,057.17 $0.00 $1,942.99 $346,640.49
187 $346,640.49 $1,057.17 $0.00 $1,959.96 $349,657.62
188 $349,657.62 $1,057.17 $0.00 $1,977.02 $352,691.81
189 $352,691.81 $1,057.17 $0.00 $1,994.17 $355,743.15
190 $355,743.15 $1,057.17 $0.00 $2,011.42 $358,811.74
191 $358,811.74 $1,057.17 $0.00 $2,028.77 $361,897.68
192 $361,897.68 $1,057.17 $0.00 $2,046.22 $365,001.07
193 $365,001.07 $1,057.17 $0.00 $2,063.77 $368,122.01
194 $368,122.01 $1,057.17 $0.00 $2,081.42 $371,260.60
195 $371,260.60 $1,057.17 $0.00 $2,099.16 $374,416.93
196 $374,416.93 $1,057.17 $0.00 $2,117.01 $377,591.11
197 $377,591.11 $1,057.17 $0.00 $2,134.96 $380,783.24
198 $380,783.24 $1,057.17 $0.00 $2,153.00 $383,993.41
199 $383,993.41 $1,057.17 $0.00 $2,171.15 $387,221.73
200 $387,221.73 $1,057.17 $0.00 $2,189.41 $390,468.31
201 $390,468.31 $1,057.17 $0.00 $2,207.76 $393,733.24
202 $393,733.24 $1,057.17 $0.00 $2,226.22 $397,016.63
203 $397,016.63 $1,057.17 $0.00 $2,244.79 $400,318.59
204 $400,318.59 $1,057.17 $0.00 $2,263.46 $403,639.22
205 $403,639.22 $1,057.17 $0.00 $2,282.23 $406,978.62
206 $406,978.62 $1,057.17 $0.00 $2,301.12 $410,336.91
207 $410,336.91 $1,057.17 $0.00 $2,320.10 $413,714.18
208 $413,714.18 $1,057.17 $0.00 $2,339.20 $417,110.55
209 $417,110.55 $1,057.17 $0.00 $2,358.40 $420,526.12
210 $420,526.12 $1,057.17 $0.00 $2,377.72 $423,961.01
211 $423,961.01 $1,057.17 $0.00 $2,397.14 $427,415.32
212 $427,415.32 $1,057.17 $0.00 $2,416.67 $430,889.16
213 $430,889.16 $1,057.17 $0.00 $2,436.31 $434,382.64
214 $434,382.64 $1,057.17 $0.00 $2,456.06 $437,895.87
215 $437,895.87 $1,057.17 $0.00 $2,475.93 $441,428.97
216 $441,428.97 $1,057.17 $0.00 $2,495.90 $444,982.04
217 $444,982.04 $1,057.17 $123,940.89 $2,515.99 $324,614.31
218 $324,614.31 $1,057.17 $0.00 $1,835.42 $327,506.90
219 $327,506.90 $1,057.17 $0.00 $1,851.77 $330,415.84
220 $330,415.84 $1,057.17 $0.00 $1,868.22 $333,341.23
221 $333,341.23 $1,057.17 $0.00 $1,884.76 $336,283.16
222 $336,283.16 $1,057.17 $0.00 $1,901.39 $339,241.72
223 $339,241.72 $1,057.17 $0.00 $1,918.12 $342,217.01
224 $342,217.01 $1,057.17 $0.00 $1,934.94 $345,209.12
225 $345,209.12 $1,057.17 $0.00 $1,951.86 $348,218.15
226 $348,218.15 $1,057.17 $0.00 $1,968.88 $351,244.20
227 $351,244.20 $1,057.17 $0.00 $1,985.99 $354,287.36
228 $354,287.36 $1,057.17 $0.00 $2,003.19 $357,347.72
229 $357,347.72 $1,057.17 $130,137.94 $2,020.50 $230,287.45
230 $230,287.45 $1,057.17 $0.00 $1,302.08 $232,646.70
231 $232,646.70 $1,057.17 $0.00 $1,315.42 $235,019.29
232 $235,019.29 $1,057.17 $0.00 $1,328.83 $237,405.29
233 $237,405.29 $1,057.17 $0.00 $1,342.32 $239,804.78
234 $239,804.78 $1,057.17 $0.00 $1,355.89 $242,217.84
235 $242,217.84 $1,057.17 $0.00 $1,369.53 $244,644.54
236 $244,644.54 $1,057.17 $0.00 $1,383.26 $247,084.97
237 $247,084.97 $1,057.17 $0.00 $1,397.05 $249,539.19
238 $249,539.19 $1,057.17 $0.00 $1,410.93 $252,007.29
239 $252,007.29 $1,057.17 $0.00 $1,424.89 $254,489.35
240 $254,489.35 $1,057.17 $0.00 $1,438.92 $256,985.44
241 $256,985.44 $1,057.17 $136,644.83 $1,453.03 $122,850.81
242 $122,850.81 $1,057.17 $0.00 $694.62 $124,602.60
243 $124,602.60 $1,057.17 $0.00 $704.52 $126,364.29
244 $126,364.29 $1,057.17 $0.00 $714.48 $128,135.94
245 $128,135.94 $1,057.17 $0.00 $724.50 $129,917.61
246 $129,917.61 $1,057.17 $0.00 $734.57 $131,709.35
247 $131,709.35 $1,057.17 $0.00 $744.70 $133,511.22
248 $133,511.22 $1,057.17 $0.00 $754.89 $135,323.28
249 $135,323.28 $1,057.17 $0.00 $765.14 $137,145.59
250 $137,145.59 $1,057.17 $0.00 $775.44 $138,978.20
251 $138,978.20 $1,057.17 $0.00 $785.80 $140,821.17
252 $140,821.17 $1,057.17 $0.00 $796.22 $142,674.56
253 $142,674.56 $0.00 $143,477.07 $806.70 $4.19