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 2041$155,478
Monthly savings required$1,231

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 $621,913.38 for students enrolling in 2041 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,230.74 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$59,956.00
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 $1,230.74 $0.00 $0.00 $1,230.74
2 $1,230.74 $1,230.74 $0.00 $6.96 $2,468.44
3 $2,468.44 $1,230.74 $0.00 $13.96 $3,713.14
4 $3,713.14 $1,230.74 $0.00 $20.99 $4,964.87
5 $4,964.87 $1,230.74 $0.00 $28.07 $6,223.68
6 $6,223.68 $1,230.74 $0.00 $35.19 $7,489.61
7 $7,489.61 $1,230.74 $0.00 $42.35 $8,762.70
8 $8,762.70 $1,230.74 $0.00 $49.55 $10,042.99
9 $10,042.99 $1,230.74 $0.00 $56.78 $11,330.51
10 $11,330.51 $1,230.74 $0.00 $64.06 $12,625.31
11 $12,625.31 $1,230.74 $0.00 $71.39 $13,927.44
12 $13,927.44 $1,230.74 $0.00 $78.75 $15,236.93
13 $15,236.93 $1,230.74 $0.00 $86.15 $16,553.82
14 $16,553.82 $1,230.74 $0.00 $93.60 $17,878.16
15 $17,878.16 $1,230.74 $0.00 $101.09 $19,209.99
16 $19,209.99 $1,230.74 $0.00 $108.62 $20,549.35
17 $20,549.35 $1,230.74 $0.00 $116.19 $21,896.28
18 $21,896.28 $1,230.74 $0.00 $123.80 $23,250.82
19 $23,250.82 $1,230.74 $0.00 $131.46 $24,613.02
20 $24,613.02 $1,230.74 $0.00 $139.17 $25,982.93
21 $25,982.93 $1,230.74 $0.00 $146.91 $27,360.58
22 $27,360.58 $1,230.74 $0.00 $154.70 $28,746.02
23 $28,746.02 $1,230.74 $0.00 $162.53 $30,139.29
24 $30,139.29 $1,230.74 $0.00 $170.41 $31,540.44
25 $31,540.44 $1,230.74 $0.00 $178.33 $32,949.51
26 $32,949.51 $1,230.74 $0.00 $186.30 $34,366.55
27 $34,366.55 $1,230.74 $0.00 $194.31 $35,791.60
28 $35,791.60 $1,230.74 $0.00 $202.37 $37,224.71
29 $37,224.71 $1,230.74 $0.00 $210.47 $38,665.92
30 $38,665.92 $1,230.74 $0.00 $218.62 $40,115.28
31 $40,115.28 $1,230.74 $0.00 $226.82 $41,572.84
32 $41,572.84 $1,230.74 $0.00 $235.06 $43,038.64
33 $43,038.64 $1,230.74 $0.00 $243.35 $44,512.73
34 $44,512.73 $1,230.74 $0.00 $251.68 $45,995.15
35 $45,995.15 $1,230.74 $0.00 $260.06 $47,485.95
36 $47,485.95 $1,230.74 $0.00 $268.49 $48,985.18
37 $48,985.18 $1,230.74 $0.00 $276.97 $50,492.89
38 $50,492.89 $1,230.74 $0.00 $285.49 $52,009.12
39 $52,009.12 $1,230.74 $0.00 $294.07 $53,533.93
40 $53,533.93 $1,230.74 $0.00 $302.69 $55,067.36
41 $55,067.36 $1,230.74 $0.00 $311.36 $56,609.46
42 $56,609.46 $1,230.74 $0.00 $320.08 $58,160.28
43 $58,160.28 $1,230.74 $0.00 $328.85 $59,719.87
44 $59,719.87 $1,230.74 $0.00 $337.66 $61,288.27
45 $61,288.27 $1,230.74 $0.00 $346.53 $62,865.54
46 $62,865.54 $1,230.74 $0.00 $355.45 $64,451.73
47 $64,451.73 $1,230.74 $0.00 $364.42 $66,046.89
48 $66,046.89 $1,230.74 $0.00 $373.44 $67,651.07
49 $67,651.07 $1,230.74 $0.00 $382.51 $69,264.32
50 $69,264.32 $1,230.74 $0.00 $391.63 $70,886.69
51 $70,886.69 $1,230.74 $0.00 $400.80 $72,518.23
52 $72,518.23 $1,230.74 $0.00 $410.03 $74,159.00
53 $74,159.00 $1,230.74 $0.00 $419.31 $75,809.05
54 $75,809.05 $1,230.74 $0.00 $428.64 $77,468.43
55 $77,468.43 $1,230.74 $0.00 $438.02 $79,137.19
56 $79,137.19 $1,230.74 $0.00 $447.45 $80,815.38
57 $80,815.38 $1,230.74 $0.00 $456.94 $82,503.06
58 $82,503.06 $1,230.74 $0.00 $466.48 $84,200.28
59 $84,200.28 $1,230.74 $0.00 $476.08 $85,907.10
60 $85,907.10 $1,230.74 $0.00 $485.73 $87,623.57
61 $87,623.57 $1,230.74 $0.00 $495.44 $89,349.75
62 $89,349.75 $1,230.74 $0.00 $505.20 $91,085.69
63 $91,085.69 $1,230.74 $0.00 $515.01 $92,831.44
64 $92,831.44 $1,230.74 $0.00 $524.88 $94,587.06
65 $94,587.06 $1,230.74 $0.00 $534.81 $96,352.61
66 $96,352.61 $1,230.74 $0.00 $544.79 $98,128.14
67 $98,128.14 $1,230.74 $0.00 $554.83 $99,913.71
68 $99,913.71 $1,230.74 $0.00 $564.93 $101,709.38
69 $101,709.38 $1,230.74 $0.00 $575.08 $103,515.20
70 $103,515.20 $1,230.74 $0.00 $585.29 $105,331.23
71 $105,331.23 $1,230.74 $0.00 $595.56 $107,157.53
72 $107,157.53 $1,230.74 $0.00 $605.88 $108,994.15
73 $108,994.15 $1,230.74 $0.00 $616.27 $110,841.16
74 $110,841.16 $1,230.74 $0.00 $626.71 $112,698.61
75 $112,698.61 $1,230.74 $0.00 $637.21 $114,566.56
76 $114,566.56 $1,230.74 $0.00 $647.78 $116,445.08
77 $116,445.08 $1,230.74 $0.00 $658.40 $118,334.22
78 $118,334.22 $1,230.74 $0.00 $669.08 $120,234.04
79 $120,234.04 $1,230.74 $0.00 $679.82 $122,144.60
80 $122,144.60 $1,230.74 $0.00 $690.62 $124,065.96
81 $124,065.96 $1,230.74 $0.00 $701.49 $125,998.19
82 $125,998.19 $1,230.74 $0.00 $712.41 $127,941.34
83 $127,941.34 $1,230.74 $0.00 $723.40 $129,895.48
84 $129,895.48 $1,230.74 $0.00 $734.45 $131,860.67
85 $131,860.67 $1,230.74 $0.00 $745.56 $133,836.97
86 $133,836.97 $1,230.74 $0.00 $756.73 $135,824.44
87 $135,824.44 $1,230.74 $0.00 $767.97 $137,823.15
88 $137,823.15 $1,230.74 $0.00 $779.27 $139,833.16
89 $139,833.16 $1,230.74 $0.00 $790.64 $141,854.54
90 $141,854.54 $1,230.74 $0.00 $802.07 $143,887.35
91 $143,887.35 $1,230.74 $0.00 $813.56 $145,931.65
92 $145,931.65 $1,230.74 $0.00 $825.12 $147,987.51
93 $147,987.51 $1,230.74 $0.00 $836.74 $150,054.99
94 $150,054.99 $1,230.74 $0.00 $848.43 $152,134.16
95 $152,134.16 $1,230.74 $0.00 $860.19 $154,225.09
96 $154,225.09 $1,230.74 $0.00 $872.01 $156,327.84
97 $156,327.84 $1,230.74 $0.00 $883.90 $158,442.48
98 $158,442.48 $1,230.74 $0.00 $895.86 $160,569.08
99 $160,569.08 $1,230.74 $0.00 $907.88 $162,707.70
100 $162,707.70 $1,230.74 $0.00 $919.97 $164,858.41
101 $164,858.41 $1,230.74 $0.00 $932.13 $167,021.28
102 $167,021.28 $1,230.74 $0.00 $944.36 $169,196.38
103 $169,196.38 $1,230.74 $0.00 $956.66 $171,383.78
104 $171,383.78 $1,230.74 $0.00 $969.03 $173,583.55
105 $173,583.55 $1,230.74 $0.00 $981.47 $175,795.76
106 $175,795.76 $1,230.74 $0.00 $993.97 $178,020.47
107 $178,020.47 $1,230.74 $0.00 $1,006.55 $180,257.76
108 $180,257.76 $1,230.74 $0.00 $1,019.20 $182,507.70
109 $182,507.70 $1,230.74 $0.00 $1,031.93 $184,770.37
110 $184,770.37 $1,230.74 $0.00 $1,044.72 $187,045.83
111 $187,045.83 $1,230.74 $0.00 $1,057.58 $189,334.15
112 $189,334.15 $1,230.74 $0.00 $1,070.52 $191,635.41
113 $191,635.41 $1,230.74 $0.00 $1,083.53 $193,949.68
114 $193,949.68 $1,230.74 $0.00 $1,096.62 $196,277.04
115 $196,277.04 $1,230.74 $0.00 $1,109.78 $198,617.56
116 $198,617.56 $1,230.74 $0.00 $1,123.01 $200,971.31
117 $200,971.31 $1,230.74 $0.00 $1,136.32 $203,338.37
118 $203,338.37 $1,230.74 $0.00 $1,149.70 $205,718.81
119 $205,718.81 $1,230.74 $0.00 $1,163.16 $208,112.71
120 $208,112.71 $1,230.74 $0.00 $1,176.70 $210,520.15
121 $210,520.15 $1,230.74 $0.00 $1,190.31 $212,941.20
122 $212,941.20 $1,230.74 $0.00 $1,204.00 $215,375.94
123 $215,375.94 $1,230.74 $0.00 $1,217.77 $217,824.45
124 $217,824.45 $1,230.74 $0.00 $1,231.61 $220,286.80
125 $220,286.80 $1,230.74 $0.00 $1,245.53 $222,763.07
126 $222,763.07 $1,230.74 $0.00 $1,259.53 $225,253.34
127 $225,253.34 $1,230.74 $0.00 $1,273.62 $227,757.70
128 $227,757.70 $1,230.74 $0.00 $1,287.78 $230,276.22
129 $230,276.22 $1,230.74 $0.00 $1,302.02 $232,808.98
130 $232,808.98 $1,230.74 $0.00 $1,316.34 $235,356.06
131 $235,356.06 $1,230.74 $0.00 $1,330.74 $237,917.54
132 $237,917.54 $1,230.74 $0.00 $1,345.22 $240,493.50
133 $240,493.50 $1,230.74 $0.00 $1,359.79 $243,084.03
134 $243,084.03 $1,230.74 $0.00 $1,374.43 $245,689.20
135 $245,689.20 $1,230.74 $0.00 $1,389.16 $248,309.10
136 $248,309.10 $1,230.74 $0.00 $1,403.98 $250,943.82
137 $250,943.82 $1,230.74 $0.00 $1,418.87 $253,593.43
138 $253,593.43 $1,230.74 $0.00 $1,433.85 $256,258.02
139 $256,258.02 $1,230.74 $0.00 $1,448.92 $258,937.68
140 $258,937.68 $1,230.74 $0.00 $1,464.07 $261,632.49
141 $261,632.49 $1,230.74 $0.00 $1,479.31 $264,342.54
142 $264,342.54 $1,230.74 $0.00 $1,494.63 $267,067.91
143 $267,067.91 $1,230.74 $0.00 $1,510.04 $269,808.69
144 $269,808.69 $1,230.74 $0.00 $1,525.54 $272,564.97
145 $272,564.97 $1,230.74 $0.00 $1,541.12 $275,336.83
146 $275,336.83 $1,230.74 $0.00 $1,556.79 $278,124.36
147 $278,124.36 $1,230.74 $0.00 $1,572.56 $280,927.66
148 $280,927.66 $1,230.74 $0.00 $1,588.41 $283,746.81
149 $283,746.81 $1,230.74 $0.00 $1,604.35 $286,581.90
150 $286,581.90 $1,230.74 $0.00 $1,620.38 $289,433.02
151 $289,433.02 $1,230.74 $0.00 $1,636.50 $292,300.26
152 $292,300.26 $1,230.74 $0.00 $1,652.71 $295,183.71
153 $295,183.71 $1,230.74 $0.00 $1,669.01 $298,083.46
154 $298,083.46 $1,230.74 $0.00 $1,685.41 $300,999.61
155 $300,999.61 $1,230.74 $0.00 $1,701.90 $303,932.25
156 $303,932.25 $1,230.74 $0.00 $1,718.48 $306,881.47
157 $306,881.47 $1,230.74 $0.00 $1,735.15 $309,847.36
158 $309,847.36 $1,230.74 $0.00 $1,751.92 $312,830.02
159 $312,830.02 $1,230.74 $0.00 $1,768.79 $315,829.55
160 $315,829.55 $1,230.74 $0.00 $1,785.75 $318,846.04
161 $318,846.04 $1,230.74 $0.00 $1,802.80 $321,879.58
162 $321,879.58 $1,230.74 $0.00 $1,819.95 $324,930.27
163 $324,930.27 $1,230.74 $0.00 $1,837.20 $327,998.21
164 $327,998.21 $1,230.74 $0.00 $1,854.55 $331,083.50
165 $331,083.50 $1,230.74 $0.00 $1,871.99 $334,186.23
166 $334,186.23 $1,230.74 $0.00 $1,889.54 $337,306.51
167 $337,306.51 $1,230.74 $0.00 $1,907.18 $340,444.43
168 $340,444.43 $1,230.74 $0.00 $1,924.92 $343,600.09
169 $343,600.09 $1,230.74 $0.00 $1,942.76 $346,773.59
170 $346,773.59 $1,230.74 $0.00 $1,960.71 $349,965.04
171 $349,965.04 $1,230.74 $0.00 $1,978.75 $353,174.53
172 $353,174.53 $1,230.74 $0.00 $1,996.90 $356,402.17
173 $356,402.17 $1,230.74 $0.00 $2,015.15 $359,648.06
174 $359,648.06 $1,230.74 $0.00 $2,033.50 $362,912.30
175 $362,912.30 $1,230.74 $0.00 $2,051.96 $366,195.00
176 $366,195.00 $1,230.74 $0.00 $2,070.52 $369,496.26
177 $369,496.26 $1,230.74 $0.00 $2,089.19 $372,816.19
178 $372,816.19 $1,230.74 $0.00 $2,107.96 $376,154.89
179 $376,154.89 $1,230.74 $0.00 $2,126.83 $379,512.46
180 $379,512.46 $1,230.74 $0.00 $2,145.82 $382,889.02
181 $382,889.02 $1,230.74 $0.00 $2,164.91 $386,284.67
182 $386,284.67 $1,230.74 $0.00 $2,184.11 $389,699.52
183 $389,699.52 $1,230.74 $0.00 $2,203.42 $393,133.68
184 $393,133.68 $1,230.74 $0.00 $2,222.83 $396,587.25
185 $396,587.25 $1,230.74 $0.00 $2,242.36 $400,060.35
186 $400,060.35 $1,230.74 $0.00 $2,262.00 $403,553.09
187 $403,553.09 $1,230.74 $0.00 $2,281.75 $407,065.58
188 $407,065.58 $1,230.74 $0.00 $2,301.61 $410,597.93
189 $410,597.93 $1,230.74 $0.00 $2,321.58 $414,150.25
190 $414,150.25 $1,230.74 $0.00 $2,341.67 $417,722.66
191 $417,722.66 $1,230.74 $0.00 $2,361.86 $421,315.26
192 $421,315.26 $1,230.74 $0.00 $2,382.18 $424,928.18
193 $424,928.18 $1,230.74 $0.00 $2,402.61 $428,561.53
194 $428,561.53 $1,230.74 $0.00 $2,423.15 $432,215.42
195 $432,215.42 $1,230.74 $0.00 $2,443.81 $435,889.97
196 $435,889.97 $1,230.74 $0.00 $2,464.59 $439,585.30
197 $439,585.30 $1,230.74 $0.00 $2,485.48 $443,301.52
198 $443,301.52 $1,230.74 $0.00 $2,506.49 $447,038.75
199 $447,038.75 $1,230.74 $0.00 $2,527.62 $450,797.11
200 $450,797.11 $1,230.74 $0.00 $2,548.87 $454,576.72
201 $454,576.72 $1,230.74 $0.00 $2,570.24 $458,377.70
202 $458,377.70 $1,230.74 $0.00 $2,591.73 $462,200.17
203 $462,200.17 $1,230.74 $0.00 $2,613.35 $466,044.26
204 $466,044.26 $1,230.74 $0.00 $2,635.08 $469,910.08
205 $469,910.08 $1,230.74 $0.00 $2,656.94 $473,797.76
206 $473,797.76 $1,230.74 $0.00 $2,678.92 $477,707.42
207 $477,707.42 $1,230.74 $0.00 $2,701.03 $481,639.19
208 $481,639.19 $1,230.74 $0.00 $2,723.26 $485,593.19
209 $485,593.19 $1,230.74 $0.00 $2,745.61 $489,569.54
210 $489,569.54 $1,230.74 $0.00 $2,768.10 $493,568.38
211 $493,568.38 $1,230.74 $0.00 $2,790.71 $497,589.83
212 $497,589.83 $1,230.74 $0.00 $2,813.45 $501,634.02
213 $501,634.02 $1,230.74 $0.00 $2,836.31 $505,701.07
214 $505,701.07 $1,230.74 $0.00 $2,859.31 $509,791.12
215 $509,791.12 $1,230.74 $0.00 $2,882.43 $513,904.29
216 $513,904.29 $1,230.74 $0.00 $2,905.69 $518,040.72
217 $518,040.72 $1,230.74 $144,291.26 $2,929.08 $377,909.28
218 $377,909.28 $1,230.74 $0.00 $2,136.75 $381,276.77
219 $381,276.77 $1,230.74 $0.00 $2,155.79 $384,663.30
220 $384,663.30 $1,230.74 $0.00 $2,174.94 $388,068.98
221 $388,068.98 $1,230.74 $0.00 $2,194.20 $391,493.92
222 $391,493.92 $1,230.74 $0.00 $2,213.56 $394,938.22
223 $394,938.22 $1,230.74 $0.00 $2,233.04 $398,402.00
224 $398,402.00 $1,230.74 $0.00 $2,252.62 $401,885.36
225 $401,885.36 $1,230.74 $0.00 $2,272.32 $405,388.42
226 $405,388.42 $1,230.74 $0.00 $2,292.13 $408,911.29
227 $408,911.29 $1,230.74 $0.00 $2,312.04 $412,454.07
228 $412,454.07 $1,230.74 $0.00 $2,332.08 $416,016.89
229 $416,016.89 $1,230.74 $151,505.83 $2,352.22 $268,094.02
230 $268,094.02 $1,230.74 $0.00 $1,515.84 $270,840.60
231 $270,840.60 $1,230.74 $0.00 $1,531.37 $273,602.71
232 $273,602.71 $1,230.74 $0.00 $1,546.99 $276,380.44
233 $276,380.44 $1,230.74 $0.00 $1,562.70 $279,173.88
234 $279,173.88 $1,230.74 $0.00 $1,578.49 $281,983.11
235 $281,983.11 $1,230.74 $0.00 $1,594.37 $284,808.22
236 $284,808.22 $1,230.74 $0.00 $1,610.35 $287,649.31
237 $287,649.31 $1,230.74 $0.00 $1,626.41 $290,506.46
238 $290,506.46 $1,230.74 $0.00 $1,642.57 $293,379.77
239 $293,379.77 $1,230.74 $0.00 $1,658.81 $296,269.32
240 $296,269.32 $1,230.74 $0.00 $1,675.15 $299,175.21
241 $299,175.21 $1,230.74 $159,081.12 $1,691.58 $143,016.41
242 $143,016.41 $1,230.74 $0.00 $808.64 $145,055.79
243 $145,055.79 $1,230.74 $0.00 $820.17 $147,106.70
244 $147,106.70 $1,230.74 $0.00 $831.76 $149,169.20
245 $149,169.20 $1,230.74 $0.00 $843.42 $151,243.36
246 $151,243.36 $1,230.74 $0.00 $855.15 $153,329.25
247 $153,329.25 $1,230.74 $0.00 $866.95 $155,426.94
248 $155,426.94 $1,230.74 $0.00 $878.81 $157,536.49
249 $157,536.49 $1,230.74 $0.00 $890.73 $159,657.96
250 $159,657.96 $1,230.74 $0.00 $902.73 $161,791.43
251 $161,791.43 $1,230.74 $0.00 $914.79 $163,936.96
252 $163,936.96 $1,230.74 $0.00 $926.92 $166,094.62
253 $166,094.62 $0.00 $167,035.17 $939.12 ($1.43)