Savings Plan and Future Cost Estimation for Mount Mary College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$190,870
Monthly savings required$1,508

How much will it cost to send your child to Mount Mary College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $763,481.21 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,508.48 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$50,876.00
Years until enrollment18
Annual Tuition Increase7%
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 $1,508.48 $0.00 $0.00 $1,508.48
2 $1,508.48 $1,508.48 $0.00 $8.53 $3,025.49
3 $3,025.49 $1,508.48 $0.00 $17.11 $4,551.08
4 $4,551.08 $1,508.48 $0.00 $25.73 $6,085.29
5 $6,085.29 $1,508.48 $0.00 $34.41 $7,628.18
6 $7,628.18 $1,508.48 $0.00 $43.13 $9,179.79
7 $9,179.79 $1,508.48 $0.00 $51.90 $10,740.17
8 $10,740.17 $1,508.48 $0.00 $60.73 $12,309.38
9 $12,309.38 $1,508.48 $0.00 $69.60 $13,887.46
10 $13,887.46 $1,508.48 $0.00 $78.52 $15,474.46
11 $15,474.46 $1,508.48 $0.00 $87.49 $17,070.43
12 $17,070.43 $1,508.48 $0.00 $96.52 $18,675.43
13 $18,675.43 $1,508.48 $0.00 $105.59 $20,289.50
14 $20,289.50 $1,508.48 $0.00 $114.72 $21,912.70
15 $21,912.70 $1,508.48 $0.00 $123.90 $23,545.08
16 $23,545.08 $1,508.48 $0.00 $133.13 $25,186.69
17 $25,186.69 $1,508.48 $0.00 $142.41 $26,837.58
18 $26,837.58 $1,508.48 $0.00 $151.74 $28,497.80
19 $28,497.80 $1,508.48 $0.00 $161.13 $30,167.41
20 $30,167.41 $1,508.48 $0.00 $170.57 $31,846.46
21 $31,846.46 $1,508.48 $0.00 $180.06 $33,535.00
22 $33,535.00 $1,508.48 $0.00 $189.61 $35,233.09
23 $35,233.09 $1,508.48 $0.00 $199.21 $36,940.78
24 $36,940.78 $1,508.48 $0.00 $208.87 $38,658.13
25 $38,658.13 $1,508.48 $0.00 $218.58 $40,385.19
26 $40,385.19 $1,508.48 $0.00 $228.34 $42,122.01
27 $42,122.01 $1,508.48 $0.00 $238.16 $43,868.65
28 $43,868.65 $1,508.48 $0.00 $248.04 $45,625.17
29 $45,625.17 $1,508.48 $0.00 $257.97 $47,391.62
30 $47,391.62 $1,508.48 $0.00 $267.96 $49,168.06
31 $49,168.06 $1,508.48 $0.00 $278.00 $50,954.54
32 $50,954.54 $1,508.48 $0.00 $288.10 $52,751.12
33 $52,751.12 $1,508.48 $0.00 $298.26 $54,557.86
34 $54,557.86 $1,508.48 $0.00 $308.48 $56,374.82
35 $56,374.82 $1,508.48 $0.00 $318.75 $58,202.05
36 $58,202.05 $1,508.48 $0.00 $329.08 $60,039.61
37 $60,039.61 $1,508.48 $0.00 $339.47 $61,887.56
38 $61,887.56 $1,508.48 $0.00 $349.92 $63,745.96
39 $63,745.96 $1,508.48 $0.00 $360.43 $65,614.87
40 $65,614.87 $1,508.48 $0.00 $371.00 $67,494.35
41 $67,494.35 $1,508.48 $0.00 $381.62 $69,384.45
42 $69,384.45 $1,508.48 $0.00 $392.31 $71,285.24
43 $71,285.24 $1,508.48 $0.00 $403.06 $73,196.78
44 $73,196.78 $1,508.48 $0.00 $413.87 $75,119.13
45 $75,119.13 $1,508.48 $0.00 $424.73 $77,052.34
46 $77,052.34 $1,508.48 $0.00 $435.67 $78,996.49
47 $78,996.49 $1,508.48 $0.00 $446.66 $80,951.63
48 $80,951.63 $1,508.48 $0.00 $457.71 $82,917.82
49 $82,917.82 $1,508.48 $0.00 $468.83 $84,895.13
50 $84,895.13 $1,508.48 $0.00 $480.01 $86,883.62
51 $86,883.62 $1,508.48 $0.00 $491.25 $88,883.35
52 $88,883.35 $1,508.48 $0.00 $502.56 $90,894.39
53 $90,894.39 $1,508.48 $0.00 $513.93 $92,916.80
54 $92,916.80 $1,508.48 $0.00 $525.37 $94,950.65
55 $94,950.65 $1,508.48 $0.00 $536.86 $96,995.99
56 $96,995.99 $1,508.48 $0.00 $548.43 $99,052.90
57 $99,052.90 $1,508.48 $0.00 $560.06 $101,121.44
58 $101,121.44 $1,508.48 $0.00 $571.76 $103,201.68
59 $103,201.68 $1,508.48 $0.00 $583.52 $105,293.68
60 $105,293.68 $1,508.48 $0.00 $595.35 $107,397.51
61 $107,397.51 $1,508.48 $0.00 $607.24 $109,513.23
62 $109,513.23 $1,508.48 $0.00 $619.20 $111,640.91
63 $111,640.91 $1,508.48 $0.00 $631.23 $113,780.62
64 $113,780.62 $1,508.48 $0.00 $643.33 $115,932.43
65 $115,932.43 $1,508.48 $0.00 $655.50 $118,096.41
66 $118,096.41 $1,508.48 $0.00 $667.73 $120,272.62
67 $120,272.62 $1,508.48 $0.00 $680.04 $122,461.14
68 $122,461.14 $1,508.48 $0.00 $692.41 $124,662.03
69 $124,662.03 $1,508.48 $0.00 $704.86 $126,875.37
70 $126,875.37 $1,508.48 $0.00 $717.37 $129,101.22
71 $129,101.22 $1,508.48 $0.00 $729.96 $131,339.66
72 $131,339.66 $1,508.48 $0.00 $742.61 $133,590.75
73 $133,590.75 $1,508.48 $0.00 $755.34 $135,854.57
74 $135,854.57 $1,508.48 $0.00 $768.14 $138,131.19
75 $138,131.19 $1,508.48 $0.00 $781.01 $140,420.68
76 $140,420.68 $1,508.48 $0.00 $793.96 $142,723.12
77 $142,723.12 $1,508.48 $0.00 $806.98 $145,038.58
78 $145,038.58 $1,508.48 $0.00 $820.07 $147,367.13
79 $147,367.13 $1,508.48 $0.00 $833.24 $149,708.85
80 $149,708.85 $1,508.48 $0.00 $846.48 $152,063.81
81 $152,063.81 $1,508.48 $0.00 $859.79 $154,432.08
82 $154,432.08 $1,508.48 $0.00 $873.18 $156,813.74
83 $156,813.74 $1,508.48 $0.00 $886.65 $159,208.87
84 $159,208.87 $1,508.48 $0.00 $900.19 $161,617.54
85 $161,617.54 $1,508.48 $0.00 $913.81 $164,039.83
86 $164,039.83 $1,508.48 $0.00 $927.51 $166,475.82
87 $166,475.82 $1,508.48 $0.00 $941.28 $168,925.58
88 $168,925.58 $1,508.48 $0.00 $955.13 $171,389.19
89 $171,389.19 $1,508.48 $0.00 $969.06 $173,866.73
90 $173,866.73 $1,508.48 $0.00 $983.07 $176,358.28
91 $176,358.28 $1,508.48 $0.00 $997.16 $178,863.92
92 $178,863.92 $1,508.48 $0.00 $1,011.32 $181,383.72
93 $181,383.72 $1,508.48 $0.00 $1,025.57 $183,917.77
94 $183,917.77 $1,508.48 $0.00 $1,039.90 $186,466.15
95 $186,466.15 $1,508.48 $0.00 $1,054.31 $189,028.94
96 $189,028.94 $1,508.48 $0.00 $1,068.80 $191,606.22
97 $191,606.22 $1,508.48 $0.00 $1,083.37 $194,198.07
98 $194,198.07 $1,508.48 $0.00 $1,098.02 $196,804.57
99 $196,804.57 $1,508.48 $0.00 $1,112.76 $199,425.81
100 $199,425.81 $1,508.48 $0.00 $1,127.58 $202,061.87
101 $202,061.87 $1,508.48 $0.00 $1,142.49 $204,712.84
102 $204,712.84 $1,508.48 $0.00 $1,157.48 $207,378.80
103 $207,378.80 $1,508.48 $0.00 $1,172.55 $210,059.83
104 $210,059.83 $1,508.48 $0.00 $1,187.71 $212,756.02
105 $212,756.02 $1,508.48 $0.00 $1,202.95 $215,467.45
106 $215,467.45 $1,508.48 $0.00 $1,218.28 $218,194.21
107 $218,194.21 $1,508.48 $0.00 $1,233.70 $220,936.39
108 $220,936.39 $1,508.48 $0.00 $1,249.21 $223,694.08
109 $223,694.08 $1,508.48 $0.00 $1,264.80 $226,467.36
110 $226,467.36 $1,508.48 $0.00 $1,280.48 $229,256.32
111 $229,256.32 $1,508.48 $0.00 $1,296.25 $232,061.05
112 $232,061.05 $1,508.48 $0.00 $1,312.11 $234,881.64
113 $234,881.64 $1,508.48 $0.00 $1,328.05 $237,718.17
114 $237,718.17 $1,508.48 $0.00 $1,344.09 $240,570.74
115 $240,570.74 $1,508.48 $0.00 $1,360.22 $243,439.44
116 $243,439.44 $1,508.48 $0.00 $1,376.44 $246,324.36
117 $246,324.36 $1,508.48 $0.00 $1,392.75 $249,225.59
118 $249,225.59 $1,508.48 $0.00 $1,409.16 $252,143.23
119 $252,143.23 $1,508.48 $0.00 $1,425.65 $255,077.36
120 $255,077.36 $1,508.48 $0.00 $1,442.24 $258,028.08
121 $258,028.08 $1,508.48 $0.00 $1,458.93 $260,995.49
122 $260,995.49 $1,508.48 $0.00 $1,475.71 $263,979.68
123 $263,979.68 $1,508.48 $0.00 $1,492.58 $266,980.74
124 $266,980.74 $1,508.48 $0.00 $1,509.55 $269,998.77
125 $269,998.77 $1,508.48 $0.00 $1,526.61 $273,033.86
126 $273,033.86 $1,508.48 $0.00 $1,543.77 $276,086.11
127 $276,086.11 $1,508.48 $0.00 $1,561.03 $279,155.62
128 $279,155.62 $1,508.48 $0.00 $1,578.39 $282,242.49
129 $282,242.49 $1,508.48 $0.00 $1,595.84 $285,346.81
130 $285,346.81 $1,508.48 $0.00 $1,613.39 $288,468.68
131 $288,468.68 $1,508.48 $0.00 $1,631.04 $291,608.20
132 $291,608.20 $1,508.48 $0.00 $1,648.80 $294,765.48
133 $294,765.48 $1,508.48 $0.00 $1,666.65 $297,940.61
134 $297,940.61 $1,508.48 $0.00 $1,684.60 $301,133.69
135 $301,133.69 $1,508.48 $0.00 $1,702.65 $304,344.82
136 $304,344.82 $1,508.48 $0.00 $1,720.81 $307,574.11
137 $307,574.11 $1,508.48 $0.00 $1,739.07 $310,821.66
138 $310,821.66 $1,508.48 $0.00 $1,757.43 $314,087.57
139 $314,087.57 $1,508.48 $0.00 $1,775.90 $317,371.95
140 $317,371.95 $1,508.48 $0.00 $1,794.47 $320,674.90
141 $320,674.90 $1,508.48 $0.00 $1,813.14 $323,996.52
142 $323,996.52 $1,508.48 $0.00 $1,831.92 $327,336.92
143 $327,336.92 $1,508.48 $0.00 $1,850.81 $330,696.21
144 $330,696.21 $1,508.48 $0.00 $1,869.80 $334,074.49
145 $334,074.49 $1,508.48 $0.00 $1,888.91 $337,471.88
146 $337,471.88 $1,508.48 $0.00 $1,908.12 $340,888.48
147 $340,888.48 $1,508.48 $0.00 $1,927.43 $344,324.39
148 $344,324.39 $1,508.48 $0.00 $1,946.86 $347,779.73
149 $347,779.73 $1,508.48 $0.00 $1,966.40 $351,254.61
150 $351,254.61 $1,508.48 $0.00 $1,986.04 $354,749.13
151 $354,749.13 $1,508.48 $0.00 $2,005.80 $358,263.41
152 $358,263.41 $1,508.48 $0.00 $2,025.67 $361,797.56
153 $361,797.56 $1,508.48 $0.00 $2,045.66 $365,351.70
154 $365,351.70 $1,508.48 $0.00 $2,065.75 $368,925.93
155 $368,925.93 $1,508.48 $0.00 $2,085.96 $372,520.37
156 $372,520.37 $1,508.48 $0.00 $2,106.28 $376,135.13
157 $376,135.13 $1,508.48 $0.00 $2,126.72 $379,770.33
158 $379,770.33 $1,508.48 $0.00 $2,147.28 $383,426.09
159 $383,426.09 $1,508.48 $0.00 $2,167.95 $387,102.52
160 $387,102.52 $1,508.48 $0.00 $2,188.73 $390,799.73
161 $390,799.73 $1,508.48 $0.00 $2,209.64 $394,517.85
162 $394,517.85 $1,508.48 $0.00 $2,230.66 $398,256.99
163 $398,256.99 $1,508.48 $0.00 $2,251.80 $402,017.27
164 $402,017.27 $1,508.48 $0.00 $2,273.06 $405,798.81
165 $405,798.81 $1,508.48 $0.00 $2,294.45 $409,601.74
166 $409,601.74 $1,508.48 $0.00 $2,315.95 $413,426.17
167 $413,426.17 $1,508.48 $0.00 $2,337.57 $417,272.22
168 $417,272.22 $1,508.48 $0.00 $2,359.32 $421,140.02
169 $421,140.02 $1,508.48 $0.00 $2,381.19 $425,029.69
170 $425,029.69 $1,508.48 $0.00 $2,403.18 $428,941.35
171 $428,941.35 $1,508.48 $0.00 $2,425.30 $432,875.13
172 $432,875.13 $1,508.48 $0.00 $2,447.54 $436,831.15
173 $436,831.15 $1,508.48 $0.00 $2,469.91 $440,809.54
174 $440,809.54 $1,508.48 $0.00 $2,492.40 $444,810.42
175 $444,810.42 $1,508.48 $0.00 $2,515.02 $448,833.92
176 $448,833.92 $1,508.48 $0.00 $2,537.77 $452,880.17
177 $452,880.17 $1,508.48 $0.00 $2,560.65 $456,949.30
178 $456,949.30 $1,508.48 $0.00 $2,583.66 $461,041.44
179 $461,041.44 $1,508.48 $0.00 $2,606.80 $465,156.72
180 $465,156.72 $1,508.48 $0.00 $2,630.06 $469,295.26
181 $469,295.26 $1,508.48 $0.00 $2,653.46 $473,457.20
182 $473,457.20 $1,508.48 $0.00 $2,677.00 $477,642.68
183 $477,642.68 $1,508.48 $0.00 $2,700.66 $481,851.82
184 $481,851.82 $1,508.48 $0.00 $2,724.46 $486,084.76
185 $486,084.76 $1,508.48 $0.00 $2,748.39 $490,341.63
186 $490,341.63 $1,508.48 $0.00 $2,772.46 $494,622.57
187 $494,622.57 $1,508.48 $0.00 $2,796.67 $498,927.72
188 $498,927.72 $1,508.48 $0.00 $2,821.01 $503,257.21
189 $503,257.21 $1,508.48 $0.00 $2,845.49 $507,611.18
190 $507,611.18 $1,508.48 $0.00 $2,870.11 $511,989.77
191 $511,989.77 $1,508.48 $0.00 $2,894.86 $516,393.11
192 $516,393.11 $1,508.48 $0.00 $2,919.76 $520,821.35
193 $520,821.35 $1,508.48 $0.00 $2,944.80 $525,274.63
194 $525,274.63 $1,508.48 $0.00 $2,969.98 $529,753.09
195 $529,753.09 $1,508.48 $0.00 $2,995.30 $534,256.87
196 $534,256.87 $1,508.48 $0.00 $3,020.77 $538,786.12
197 $538,786.12 $1,508.48 $0.00 $3,046.38 $543,340.98
198 $543,340.98 $1,508.48 $0.00 $3,072.13 $547,921.59
199 $547,921.59 $1,508.48 $0.00 $3,098.03 $552,528.10
200 $552,528.10 $1,508.48 $0.00 $3,124.07 $557,160.65
201 $557,160.65 $1,508.48 $0.00 $3,150.27 $561,819.40
202 $561,819.40 $1,508.48 $0.00 $3,176.61 $566,504.49
203 $566,504.49 $1,508.48 $0.00 $3,203.10 $571,216.07
204 $571,216.07 $1,508.48 $0.00 $3,229.74 $575,954.29
205 $575,954.29 $1,508.48 $0.00 $3,256.53 $580,719.30
206 $580,719.30 $1,508.48 $0.00 $3,283.47 $585,511.25
207 $585,511.25 $1,508.48 $0.00 $3,310.57 $590,330.30
208 $590,330.30 $1,508.48 $0.00 $3,337.81 $595,176.59
209 $595,176.59 $1,508.48 $0.00 $3,365.21 $600,050.28
210 $600,050.28 $1,508.48 $0.00 $3,392.77 $604,951.53
211 $604,951.53 $1,508.48 $0.00 $3,420.48 $609,880.49
212 $609,880.49 $1,508.48 $0.00 $3,448.35 $614,837.32
213 $614,837.32 $1,508.48 $0.00 $3,476.38 $619,822.18
214 $619,822.18 $1,508.48 $0.00 $3,504.56 $624,835.22
215 $624,835.22 $1,508.48 $0.00 $3,532.91 $629,876.61
216 $629,876.61 $1,508.48 $0.00 $3,561.41 $634,946.50
217 $634,946.50 $1,508.48 $171,957.43 $3,590.08 $468,087.63
218 $468,087.63 $1,508.48 $0.00 $2,646.64 $472,242.75
219 $472,242.75 $1,508.48 $0.00 $2,670.13 $476,421.36
220 $476,421.36 $1,508.48 $0.00 $2,693.76 $480,623.60
221 $480,623.60 $1,508.48 $0.00 $2,717.52 $484,849.60
222 $484,849.60 $1,508.48 $0.00 $2,741.41 $489,099.49
223 $489,099.49 $1,508.48 $0.00 $2,765.44 $493,373.41
224 $493,373.41 $1,508.48 $0.00 $2,789.60 $497,671.49
225 $497,671.49 $1,508.48 $0.00 $2,813.91 $501,993.88
226 $501,993.88 $1,508.48 $0.00 $2,838.35 $506,340.71
227 $506,340.71 $1,508.48 $0.00 $2,862.92 $510,712.11
228 $510,712.11 $1,508.48 $0.00 $2,887.64 $515,108.23
229 $515,108.23 $1,508.48 $183,994.45 $2,912.50 $335,534.76
230 $335,534.76 $1,508.48 $0.00 $1,897.16 $338,940.40
231 $338,940.40 $1,508.48 $0.00 $1,916.42 $342,365.30
232 $342,365.30 $1,508.48 $0.00 $1,935.78 $345,809.56
233 $345,809.56 $1,508.48 $0.00 $1,955.26 $349,273.30
234 $349,273.30 $1,508.48 $0.00 $1,974.84 $352,756.62
235 $352,756.62 $1,508.48 $0.00 $1,994.54 $356,259.64
236 $356,259.64 $1,508.48 $0.00 $2,014.34 $359,782.46
237 $359,782.46 $1,508.48 $0.00 $2,034.26 $363,325.20
238 $363,325.20 $1,508.48 $0.00 $2,054.29 $366,887.97
239 $366,887.97 $1,508.48 $0.00 $2,074.44 $370,470.89
240 $370,470.89 $1,508.48 $0.00 $2,094.70 $374,074.07
241 $374,074.07 $1,508.48 $196,874.07 $2,115.07 $180,823.55
242 $180,823.55 $1,508.48 $0.00 $1,022.40 $183,354.43
243 $183,354.43 $1,508.48 $0.00 $1,036.71 $185,899.62
244 $185,899.62 $1,508.48 $0.00 $1,051.10 $188,459.20
245 $188,459.20 $1,508.48 $0.00 $1,065.58 $191,033.26
246 $191,033.26 $1,508.48 $0.00 $1,080.13 $193,621.87
247 $193,621.87 $1,508.48 $0.00 $1,094.77 $196,225.12
248 $196,225.12 $1,508.48 $0.00 $1,109.49 $198,843.09
249 $198,843.09 $1,508.48 $0.00 $1,124.29 $201,475.86
250 $201,475.86 $1,508.48 $0.00 $1,139.17 $204,123.51
251 $204,123.51 $1,508.48 $0.00 $1,154.14 $206,786.13
252 $206,786.13 $1,508.48 $0.00 $1,169.20 $209,463.81
253 $209,463.81 $0.00 $210,655.25 $1,184.34 -$7.10