Savings Plan and Future Cost Estimation for Milwaukee School of Engineering

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$147,460
Monthly savings required$1,167

How much will it cost to send your child to Milwaukee School of Engineering in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $589,840.59 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,167.26 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$56,864.00
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 $1,167.26 $0.00 $0.00 $1,167.26
2 $1,167.26 $1,167.26 $0.00 $6.60 $2,341.12
3 $2,341.12 $1,167.26 $0.00 $13.24 $3,521.62
4 $3,521.62 $1,167.26 $0.00 $19.91 $4,708.79
5 $4,708.79 $1,167.26 $0.00 $26.62 $5,902.67
6 $5,902.67 $1,167.26 $0.00 $33.37 $7,103.30
7 $7,103.30 $1,167.26 $0.00 $40.16 $8,310.72
8 $8,310.72 $1,167.26 $0.00 $46.99 $9,524.97
9 $9,524.97 $1,167.26 $0.00 $53.86 $10,746.09
10 $10,746.09 $1,167.26 $0.00 $60.76 $11,974.11
11 $11,974.11 $1,167.26 $0.00 $67.70 $13,209.07
12 $13,209.07 $1,167.26 $0.00 $74.69 $14,451.02
13 $14,451.02 $1,167.26 $0.00 $81.71 $15,699.99
14 $15,699.99 $1,167.26 $0.00 $88.77 $16,956.02
15 $16,956.02 $1,167.26 $0.00 $95.87 $18,219.15
16 $18,219.15 $1,167.26 $0.00 $103.01 $19,489.42
17 $19,489.42 $1,167.26 $0.00 $110.20 $20,766.88
18 $20,766.88 $1,167.26 $0.00 $117.42 $22,051.56
19 $22,051.56 $1,167.26 $0.00 $124.68 $23,343.50
20 $23,343.50 $1,167.26 $0.00 $131.99 $24,642.75
21 $24,642.75 $1,167.26 $0.00 $139.33 $25,949.34
22 $25,949.34 $1,167.26 $0.00 $146.72 $27,263.32
23 $27,263.32 $1,167.26 $0.00 $154.15 $28,584.73
24 $28,584.73 $1,167.26 $0.00 $161.62 $29,913.61
25 $29,913.61 $1,167.26 $0.00 $169.14 $31,250.01
26 $31,250.01 $1,167.26 $0.00 $176.69 $32,593.96
27 $32,593.96 $1,167.26 $0.00 $184.29 $33,945.51
28 $33,945.51 $1,167.26 $0.00 $191.93 $35,304.70
29 $35,304.70 $1,167.26 $0.00 $199.62 $36,671.58
30 $36,671.58 $1,167.26 $0.00 $207.35 $38,046.19
31 $38,046.19 $1,167.26 $0.00 $215.12 $39,428.57
32 $39,428.57 $1,167.26 $0.00 $222.93 $40,818.76
33 $40,818.76 $1,167.26 $0.00 $230.80 $42,216.82
34 $42,216.82 $1,167.26 $0.00 $238.70 $43,622.78
35 $43,622.78 $1,167.26 $0.00 $246.65 $45,036.69
36 $45,036.69 $1,167.26 $0.00 $254.64 $46,458.59
37 $46,458.59 $1,167.26 $0.00 $262.68 $47,888.53
38 $47,888.53 $1,167.26 $0.00 $270.77 $49,326.56
39 $49,326.56 $1,167.26 $0.00 $278.90 $50,772.72
40 $50,772.72 $1,167.26 $0.00 $287.08 $52,227.06
41 $52,227.06 $1,167.26 $0.00 $295.30 $53,689.62
42 $53,689.62 $1,167.26 $0.00 $303.57 $55,160.45
43 $55,160.45 $1,167.26 $0.00 $311.89 $56,639.60
44 $56,639.60 $1,167.26 $0.00 $320.25 $58,127.11
45 $58,127.11 $1,167.26 $0.00 $328.66 $59,623.03
46 $59,623.03 $1,167.26 $0.00 $337.12 $61,127.41
47 $61,127.41 $1,167.26 $0.00 $345.62 $62,640.29
48 $62,640.29 $1,167.26 $0.00 $354.18 $64,161.73
49 $64,161.73 $1,167.26 $0.00 $362.78 $65,691.77
50 $65,691.77 $1,167.26 $0.00 $371.43 $67,230.46
51 $67,230.46 $1,167.26 $0.00 $380.13 $68,777.85
52 $68,777.85 $1,167.26 $0.00 $388.88 $70,333.99
53 $70,333.99 $1,167.26 $0.00 $397.68 $71,898.93
54 $71,898.93 $1,167.26 $0.00 $406.53 $73,472.72
55 $73,472.72 $1,167.26 $0.00 $415.43 $75,055.41
56 $75,055.41 $1,167.26 $0.00 $424.37 $76,647.04
57 $76,647.04 $1,167.26 $0.00 $433.37 $78,247.67
58 $78,247.67 $1,167.26 $0.00 $442.42 $79,857.35
59 $79,857.35 $1,167.26 $0.00 $451.53 $81,476.14
60 $81,476.14 $1,167.26 $0.00 $460.68 $83,104.08
61 $83,104.08 $1,167.26 $0.00 $469.88 $84,741.22
62 $84,741.22 $1,167.26 $0.00 $479.14 $86,387.62
63 $86,387.62 $1,167.26 $0.00 $488.45 $88,043.33
64 $88,043.33 $1,167.26 $0.00 $497.81 $89,708.40
65 $89,708.40 $1,167.26 $0.00 $507.22 $91,382.88
66 $91,382.88 $1,167.26 $0.00 $516.69 $93,066.83
67 $93,066.83 $1,167.26 $0.00 $526.21 $94,760.30
68 $94,760.30 $1,167.26 $0.00 $535.79 $96,463.35
69 $96,463.35 $1,167.26 $0.00 $545.42 $98,176.03
70 $98,176.03 $1,167.26 $0.00 $555.10 $99,898.39
71 $99,898.39 $1,167.26 $0.00 $564.84 $101,630.49
72 $101,630.49 $1,167.26 $0.00 $574.63 $103,372.38
73 $103,372.38 $1,167.26 $0.00 $584.48 $105,124.12
74 $105,124.12 $1,167.26 $0.00 $594.39 $106,885.77
75 $106,885.77 $1,167.26 $0.00 $604.35 $108,657.38
76 $108,657.38 $1,167.26 $0.00 $614.36 $110,439.00
77 $110,439.00 $1,167.26 $0.00 $624.44 $112,230.70
78 $112,230.70 $1,167.26 $0.00 $634.57 $114,032.53
79 $114,032.53 $1,167.26 $0.00 $644.76 $115,844.55
80 $115,844.55 $1,167.26 $0.00 $655.00 $117,666.81
81 $117,666.81 $1,167.26 $0.00 $665.31 $119,499.38
82 $119,499.38 $1,167.26 $0.00 $675.67 $121,342.31
83 $121,342.31 $1,167.26 $0.00 $686.09 $123,195.66
84 $123,195.66 $1,167.26 $0.00 $696.57 $125,059.49
85 $125,059.49 $1,167.26 $0.00 $707.10 $126,933.85
86 $126,933.85 $1,167.26 $0.00 $717.70 $128,818.81
87 $128,818.81 $1,167.26 $0.00 $728.36 $130,714.43
88 $130,714.43 $1,167.26 $0.00 $739.08 $132,620.77
89 $132,620.77 $1,167.26 $0.00 $749.86 $134,537.89
90 $134,537.89 $1,167.26 $0.00 $760.70 $136,465.85
91 $136,465.85 $1,167.26 $0.00 $771.60 $138,404.71
92 $138,404.71 $1,167.26 $0.00 $782.56 $140,354.53
93 $140,354.53 $1,167.26 $0.00 $793.58 $142,315.37
94 $142,315.37 $1,167.26 $0.00 $804.67 $144,287.30
95 $144,287.30 $1,167.26 $0.00 $815.82 $146,270.38
96 $146,270.38 $1,167.26 $0.00 $827.03 $148,264.67
97 $148,264.67 $1,167.26 $0.00 $838.31 $150,270.24
98 $150,270.24 $1,167.26 $0.00 $849.65 $152,287.15
99 $152,287.15 $1,167.26 $0.00 $861.05 $154,315.46
100 $154,315.46 $1,167.26 $0.00 $872.52 $156,355.24
101 $156,355.24 $1,167.26 $0.00 $884.06 $158,406.56
102 $158,406.56 $1,167.26 $0.00 $895.65 $160,469.47
103 $160,469.47 $1,167.26 $0.00 $907.32 $162,544.05
104 $162,544.05 $1,167.26 $0.00 $919.05 $164,630.36
105 $164,630.36 $1,167.26 $0.00 $930.84 $166,728.46
106 $166,728.46 $1,167.26 $0.00 $942.71 $168,838.43
107 $168,838.43 $1,167.26 $0.00 $954.64 $170,960.33
108 $170,960.33 $1,167.26 $0.00 $966.63 $173,094.22
109 $173,094.22 $1,167.26 $0.00 $978.70 $175,240.18
110 $175,240.18 $1,167.26 $0.00 $990.83 $177,398.27
111 $177,398.27 $1,167.26 $0.00 $1,003.04 $179,568.57
112 $179,568.57 $1,167.26 $0.00 $1,015.31 $181,751.14
113 $181,751.14 $1,167.26 $0.00 $1,027.65 $183,946.05
114 $183,946.05 $1,167.26 $0.00 $1,040.06 $186,153.37
115 $186,153.37 $1,167.26 $0.00 $1,052.54 $188,373.17
116 $188,373.17 $1,167.26 $0.00 $1,065.09 $190,605.52
117 $190,605.52 $1,167.26 $0.00 $1,077.71 $192,850.49
118 $192,850.49 $1,167.26 $0.00 $1,090.40 $195,108.15
119 $195,108.15 $1,167.26 $0.00 $1,103.17 $197,378.58
120 $197,378.58 $1,167.26 $0.00 $1,116.01 $199,661.85
121 $199,661.85 $1,167.26 $0.00 $1,128.92 $201,958.03
122 $201,958.03 $1,167.26 $0.00 $1,141.90 $204,267.19
123 $204,267.19 $1,167.26 $0.00 $1,154.96 $206,589.41
124 $206,589.41 $1,167.26 $0.00 $1,168.09 $208,924.76
125 $208,924.76 $1,167.26 $0.00 $1,181.29 $211,273.31
126 $211,273.31 $1,167.26 $0.00 $1,194.57 $213,635.14
127 $213,635.14 $1,167.26 $0.00 $1,207.92 $216,010.32
128 $216,010.32 $1,167.26 $0.00 $1,221.35 $218,398.93
129 $218,398.93 $1,167.26 $0.00 $1,234.86 $220,801.05
130 $220,801.05 $1,167.26 $0.00 $1,248.44 $223,216.75
131 $223,216.75 $1,167.26 $0.00 $1,262.10 $225,646.11
132 $225,646.11 $1,167.26 $0.00 $1,275.84 $228,089.21
133 $228,089.21 $1,167.26 $0.00 $1,289.65 $230,546.12
134 $230,546.12 $1,167.26 $0.00 $1,303.54 $233,016.92
135 $233,016.92 $1,167.26 $0.00 $1,317.51 $235,501.69
136 $235,501.69 $1,167.26 $0.00 $1,331.56 $238,000.51
137 $238,000.51 $1,167.26 $0.00 $1,345.69 $240,513.46
138 $240,513.46 $1,167.26 $0.00 $1,359.90 $243,040.62
139 $243,040.62 $1,167.26 $0.00 $1,374.19 $245,582.07
140 $245,582.07 $1,167.26 $0.00 $1,388.56 $248,137.89
141 $248,137.89 $1,167.26 $0.00 $1,403.01 $250,708.16
142 $250,708.16 $1,167.26 $0.00 $1,417.54 $253,292.96
143 $253,292.96 $1,167.26 $0.00 $1,432.16 $255,892.38
144 $255,892.38 $1,167.26 $0.00 $1,446.85 $258,506.49
145 $258,506.49 $1,167.26 $0.00 $1,461.63 $261,135.38
146 $261,135.38 $1,167.26 $0.00 $1,476.50 $263,779.14
147 $263,779.14 $1,167.26 $0.00 $1,491.45 $266,437.85
148 $266,437.85 $1,167.26 $0.00 $1,506.48 $269,111.59
149 $269,111.59 $1,167.26 $0.00 $1,521.60 $271,800.45
150 $271,800.45 $1,167.26 $0.00 $1,536.80 $274,504.51
151 $274,504.51 $1,167.26 $0.00 $1,552.09 $277,223.86
152 $277,223.86 $1,167.26 $0.00 $1,567.46 $279,958.58
153 $279,958.58 $1,167.26 $0.00 $1,582.93 $282,708.77
154 $282,708.77 $1,167.26 $0.00 $1,598.48 $285,474.51
155 $285,474.51 $1,167.26 $0.00 $1,614.11 $288,255.88
156 $288,255.88 $1,167.26 $0.00 $1,629.84 $291,052.98
157 $291,052.98 $1,167.26 $0.00 $1,645.66 $293,865.90
158 $293,865.90 $1,167.26 $0.00 $1,661.56 $296,694.72
159 $296,694.72 $1,167.26 $0.00 $1,677.56 $299,539.54
160 $299,539.54 $1,167.26 $0.00 $1,693.64 $302,400.44
161 $302,400.44 $1,167.26 $0.00 $1,709.82 $305,277.52
162 $305,277.52 $1,167.26 $0.00 $1,726.08 $308,170.86
163 $308,170.86 $1,167.26 $0.00 $1,742.44 $311,080.56
164 $311,080.56 $1,167.26 $0.00 $1,758.89 $314,006.71
165 $314,006.71 $1,167.26 $0.00 $1,775.44 $316,949.41
166 $316,949.41 $1,167.26 $0.00 $1,792.08 $319,908.75
167 $319,908.75 $1,167.26 $0.00 $1,808.81 $322,884.82
168 $322,884.82 $1,167.26 $0.00 $1,825.64 $325,877.72
169 $325,877.72 $1,167.26 $0.00 $1,842.56 $328,887.54
170 $328,887.54 $1,167.26 $0.00 $1,859.58 $331,914.38
171 $331,914.38 $1,167.26 $0.00 $1,876.69 $334,958.33
172 $334,958.33 $1,167.26 $0.00 $1,893.90 $338,019.49
173 $338,019.49 $1,167.26 $0.00 $1,911.21 $341,097.96
174 $341,097.96 $1,167.26 $0.00 $1,928.62 $344,193.84
175 $344,193.84 $1,167.26 $0.00 $1,946.12 $347,307.22
176 $347,307.22 $1,167.26 $0.00 $1,963.73 $350,438.21
177 $350,438.21 $1,167.26 $0.00 $1,981.43 $353,586.90
178 $353,586.90 $1,167.26 $0.00 $1,999.23 $356,753.39
179 $356,753.39 $1,167.26 $0.00 $2,017.14 $359,937.79
180 $359,937.79 $1,167.26 $0.00 $2,035.14 $363,140.19
181 $363,140.19 $1,167.26 $0.00 $2,053.25 $366,360.70
182 $366,360.70 $1,167.26 $0.00 $2,071.46 $369,599.42
183 $369,599.42 $1,167.26 $0.00 $2,089.77 $372,856.45
184 $372,856.45 $1,167.26 $0.00 $2,108.18 $376,131.89
185 $376,131.89 $1,167.26 $0.00 $2,126.70 $379,425.85
186 $379,425.85 $1,167.26 $0.00 $2,145.33 $382,738.44
187 $382,738.44 $1,167.26 $0.00 $2,164.06 $386,069.76
188 $386,069.76 $1,167.26 $0.00 $2,182.89 $389,419.91
189 $389,419.91 $1,167.26 $0.00 $2,201.84 $392,789.01
190 $392,789.01 $1,167.26 $0.00 $2,220.89 $396,177.16
191 $396,177.16 $1,167.26 $0.00 $2,240.04 $399,584.46
192 $399,584.46 $1,167.26 $0.00 $2,259.31 $403,011.03
193 $403,011.03 $1,167.26 $0.00 $2,278.68 $406,456.97
194 $406,456.97 $1,167.26 $0.00 $2,298.17 $409,922.40
195 $409,922.40 $1,167.26 $0.00 $2,317.76 $413,407.42
196 $413,407.42 $1,167.26 $0.00 $2,337.47 $416,912.15
197 $416,912.15 $1,167.26 $0.00 $2,357.28 $420,436.69
198 $420,436.69 $1,167.26 $0.00 $2,377.21 $423,981.16
199 $423,981.16 $1,167.26 $0.00 $2,397.25 $427,545.67
200 $427,545.67 $1,167.26 $0.00 $2,417.41 $431,130.34
201 $431,130.34 $1,167.26 $0.00 $2,437.67 $434,735.27
202 $434,735.27 $1,167.26 $0.00 $2,458.06 $438,360.59
203 $438,360.59 $1,167.26 $0.00 $2,478.55 $442,006.40
204 $442,006.40 $1,167.26 $0.00 $2,499.17 $445,672.83
205 $445,672.83 $1,167.26 $0.00 $2,519.90 $449,359.99
206 $449,359.99 $1,167.26 $0.00 $2,540.75 $453,068.00
207 $453,068.00 $1,167.26 $0.00 $2,561.71 $456,796.97
208 $456,796.97 $1,167.26 $0.00 $2,582.80 $460,547.03
209 $460,547.03 $1,167.26 $0.00 $2,604.00 $464,318.29
210 $464,318.29 $1,167.26 $0.00 $2,625.32 $468,110.87
211 $468,110.87 $1,167.26 $0.00 $2,646.77 $471,924.90
212 $471,924.90 $1,167.26 $0.00 $2,668.33 $475,760.49
213 $475,760.49 $1,167.26 $0.00 $2,690.02 $479,617.77
214 $479,617.77 $1,167.26 $0.00 $2,711.83 $483,496.86
215 $483,496.86 $1,167.26 $0.00 $2,733.76 $487,397.88
216 $487,397.88 $1,167.26 $0.00 $2,755.82 $491,320.96
217 $491,320.96 $1,167.26 $136,850.00 $2,778.00 $358,416.22
218 $358,416.22 $1,167.26 $0.00 $2,026.54 $361,610.02
219 $361,610.02 $1,167.26 $0.00 $2,044.60 $364,821.88
220 $364,821.88 $1,167.26 $0.00 $2,062.76 $368,051.90
221 $368,051.90 $1,167.26 $0.00 $2,081.02 $371,300.18
222 $371,300.18 $1,167.26 $0.00 $2,099.39 $374,566.83
223 $374,566.83 $1,167.26 $0.00 $2,117.86 $377,851.95
224 $377,851.95 $1,167.26 $0.00 $2,136.43 $381,155.64
225 $381,155.64 $1,167.26 $0.00 $2,155.11 $384,478.01
226 $384,478.01 $1,167.26 $0.00 $2,173.89 $387,819.16
227 $387,819.16 $1,167.26 $0.00 $2,192.79 $391,179.21
228 $391,179.21 $1,167.26 $0.00 $2,211.78 $394,558.25
229 $394,558.25 $1,167.26 $143,692.50 $2,230.89 $254,263.90
230 $254,263.90 $1,167.26 $0.00 $1,437.65 $256,868.81
231 $256,868.81 $1,167.26 $0.00 $1,452.37 $259,488.44
232 $259,488.44 $1,167.26 $0.00 $1,467.19 $262,122.89
233 $262,122.89 $1,167.26 $0.00 $1,482.08 $264,772.23
234 $264,772.23 $1,167.26 $0.00 $1,497.06 $267,436.55
235 $267,436.55 $1,167.26 $0.00 $1,512.13 $270,115.94
236 $270,115.94 $1,167.26 $0.00 $1,527.27 $272,810.47
237 $272,810.47 $1,167.26 $0.00 $1,542.51 $275,520.24
238 $275,520.24 $1,167.26 $0.00 $1,557.83 $278,245.33
239 $278,245.33 $1,167.26 $0.00 $1,573.24 $280,985.83
240 $280,985.83 $1,167.26 $0.00 $1,588.73 $283,741.82
241 $283,741.82 $1,167.26 $150,877.12 $1,604.32 $135,636.28
242 $135,636.28 $1,167.26 $0.00 $766.91 $137,570.45
243 $137,570.45 $1,167.26 $0.00 $777.84 $139,515.55
244 $139,515.55 $1,167.26 $0.00 $788.84 $141,471.65
245 $141,471.65 $1,167.26 $0.00 $799.90 $143,438.81
246 $143,438.81 $1,167.26 $0.00 $811.02 $145,417.09
247 $145,417.09 $1,167.26 $0.00 $822.21 $147,406.56
248 $147,406.56 $1,167.26 $0.00 $833.46 $149,407.28
249 $149,407.28 $1,167.26 $0.00 $844.77 $151,419.31
250 $151,419.31 $1,167.26 $0.00 $856.15 $153,442.72
251 $153,442.72 $1,167.26 $0.00 $867.59 $155,477.57
252 $155,477.57 $1,167.26 $0.00 $879.09 $157,523.92
253 $157,523.92 $0.00 $158,420.98 $890.66 ($6.40)