Savings Plan and Future Cost Estimation for McKendree University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$179,068
Monthly savings required$1,415

How much will it cost to send your child to McKendree University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $716,270.11 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,415.21 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$47,730.00
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 $1,415.21 $0.00 $0.00 $1,415.21
2 $1,415.21 $1,415.21 $0.00 $8.00 $2,838.42
3 $2,838.42 $1,415.21 $0.00 $16.05 $4,269.68
4 $4,269.68 $1,415.21 $0.00 $24.14 $5,709.03
5 $5,709.03 $1,415.21 $0.00 $32.28 $7,156.52
6 $7,156.52 $1,415.21 $0.00 $40.46 $8,612.19
7 $8,612.19 $1,415.21 $0.00 $48.69 $10,076.09
8 $10,076.09 $1,415.21 $0.00 $56.97 $11,548.27
9 $11,548.27 $1,415.21 $0.00 $65.30 $13,028.78
10 $13,028.78 $1,415.21 $0.00 $73.67 $14,517.66
11 $14,517.66 $1,415.21 $0.00 $82.08 $16,014.95
12 $16,014.95 $1,415.21 $0.00 $90.55 $17,520.71
13 $17,520.71 $1,415.21 $0.00 $99.06 $19,034.98
14 $19,034.98 $1,415.21 $0.00 $107.63 $20,557.82
15 $20,557.82 $1,415.21 $0.00 $116.24 $22,089.27
16 $22,089.27 $1,415.21 $0.00 $124.90 $23,629.38
17 $23,629.38 $1,415.21 $0.00 $133.60 $25,178.19
18 $25,178.19 $1,415.21 $0.00 $142.36 $26,735.76
19 $26,735.76 $1,415.21 $0.00 $151.17 $28,302.14
20 $28,302.14 $1,415.21 $0.00 $160.02 $29,877.37
21 $29,877.37 $1,415.21 $0.00 $168.93 $31,461.51
22 $31,461.51 $1,415.21 $0.00 $177.89 $33,054.61
23 $33,054.61 $1,415.21 $0.00 $186.90 $34,656.72
24 $34,656.72 $1,415.21 $0.00 $195.95 $36,267.88
25 $36,267.88 $1,415.21 $0.00 $205.06 $37,888.15
26 $37,888.15 $1,415.21 $0.00 $214.23 $39,517.59
27 $39,517.59 $1,415.21 $0.00 $223.44 $41,156.24
28 $41,156.24 $1,415.21 $0.00 $232.70 $42,804.15
29 $42,804.15 $1,415.21 $0.00 $242.02 $44,461.38
30 $44,461.38 $1,415.21 $0.00 $251.39 $46,127.98
31 $46,127.98 $1,415.21 $0.00 $260.81 $47,804.00
32 $47,804.00 $1,415.21 $0.00 $270.29 $49,489.50
33 $49,489.50 $1,415.21 $0.00 $279.82 $51,184.53
34 $51,184.53 $1,415.21 $0.00 $289.40 $52,889.14
35 $52,889.14 $1,415.21 $0.00 $299.04 $54,603.39
36 $54,603.39 $1,415.21 $0.00 $308.74 $56,327.34
37 $56,327.34 $1,415.21 $0.00 $318.48 $58,061.03
38 $58,061.03 $1,415.21 $0.00 $328.29 $59,804.53
39 $59,804.53 $1,415.21 $0.00 $338.14 $61,557.88
40 $61,557.88 $1,415.21 $0.00 $348.06 $63,321.15
41 $63,321.15 $1,415.21 $0.00 $358.03 $65,094.39
42 $65,094.39 $1,415.21 $0.00 $368.05 $66,877.65
43 $66,877.65 $1,415.21 $0.00 $378.14 $68,671.00
44 $68,671.00 $1,415.21 $0.00 $388.28 $70,474.49
45 $70,474.49 $1,415.21 $0.00 $398.47 $72,288.17
46 $72,288.17 $1,415.21 $0.00 $408.73 $74,112.11
47 $74,112.11 $1,415.21 $0.00 $419.04 $75,946.36
48 $75,946.36 $1,415.21 $0.00 $429.41 $77,790.98
49 $77,790.98 $1,415.21 $0.00 $439.84 $79,646.03
50 $79,646.03 $1,415.21 $0.00 $450.33 $81,511.57
51 $81,511.57 $1,415.21 $0.00 $460.88 $83,387.66
52 $83,387.66 $1,415.21 $0.00 $471.49 $85,274.36
53 $85,274.36 $1,415.21 $0.00 $482.15 $87,171.72
54 $87,171.72 $1,415.21 $0.00 $492.88 $89,079.81
55 $89,079.81 $1,415.21 $0.00 $503.67 $90,998.69
56 $90,998.69 $1,415.21 $0.00 $514.52 $92,928.42
57 $92,928.42 $1,415.21 $0.00 $525.43 $94,869.06
58 $94,869.06 $1,415.21 $0.00 $536.40 $96,820.67
59 $96,820.67 $1,415.21 $0.00 $547.44 $98,783.32
60 $98,783.32 $1,415.21 $0.00 $558.54 $100,757.07
61 $100,757.07 $1,415.21 $0.00 $569.70 $102,741.98
62 $102,741.98 $1,415.21 $0.00 $580.92 $104,738.11
63 $104,738.11 $1,415.21 $0.00 $592.20 $106,745.52
64 $106,745.52 $1,415.21 $0.00 $603.55 $108,764.28
65 $108,764.28 $1,415.21 $0.00 $614.97 $110,794.46
66 $110,794.46 $1,415.21 $0.00 $626.45 $112,836.12
67 $112,836.12 $1,415.21 $0.00 $637.99 $114,889.32
68 $114,889.32 $1,415.21 $0.00 $649.60 $116,954.13
69 $116,954.13 $1,415.21 $0.00 $661.28 $119,030.62
70 $119,030.62 $1,415.21 $0.00 $673.02 $121,118.85
71 $121,118.85 $1,415.21 $0.00 $684.82 $123,218.88
72 $123,218.88 $1,415.21 $0.00 $696.70 $125,330.79
73 $125,330.79 $1,415.21 $0.00 $708.64 $127,454.64
74 $127,454.64 $1,415.21 $0.00 $720.65 $129,590.50
75 $129,590.50 $1,415.21 $0.00 $732.72 $131,738.43
76 $131,738.43 $1,415.21 $0.00 $744.87 $133,898.51
77 $133,898.51 $1,415.21 $0.00 $757.08 $136,070.80
78 $136,070.80 $1,415.21 $0.00 $769.36 $138,255.37
79 $138,255.37 $1,415.21 $0.00 $781.72 $140,452.30
80 $140,452.30 $1,415.21 $0.00 $794.14 $142,661.65
81 $142,661.65 $1,415.21 $0.00 $806.63 $144,883.49
82 $144,883.49 $1,415.21 $0.00 $819.19 $147,117.89
83 $147,117.89 $1,415.21 $0.00 $831.83 $149,364.93
84 $149,364.93 $1,415.21 $0.00 $844.53 $151,624.67
85 $151,624.67 $1,415.21 $0.00 $857.31 $153,897.19
86 $153,897.19 $1,415.21 $0.00 $870.16 $156,182.56
87 $156,182.56 $1,415.21 $0.00 $883.08 $158,480.85
88 $158,480.85 $1,415.21 $0.00 $896.07 $160,792.13
89 $160,792.13 $1,415.21 $0.00 $909.14 $163,116.48
90 $163,116.48 $1,415.21 $0.00 $922.28 $165,453.97
91 $165,453.97 $1,415.21 $0.00 $935.50 $167,804.68
92 $167,804.68 $1,415.21 $0.00 $948.79 $170,168.68
93 $170,168.68 $1,415.21 $0.00 $962.16 $172,546.05
94 $172,546.05 $1,415.21 $0.00 $975.60 $174,936.86
95 $174,936.86 $1,415.21 $0.00 $989.12 $177,341.19
96 $177,341.19 $1,415.21 $0.00 $1,002.71 $179,759.11
97 $179,759.11 $1,415.21 $0.00 $1,016.38 $182,190.70
98 $182,190.70 $1,415.21 $0.00 $1,030.13 $184,636.04
99 $184,636.04 $1,415.21 $0.00 $1,043.96 $187,095.21
100 $187,095.21 $1,415.21 $0.00 $1,057.86 $189,568.28
101 $189,568.28 $1,415.21 $0.00 $1,071.85 $192,055.34
102 $192,055.34 $1,415.21 $0.00 $1,085.91 $194,556.46
103 $194,556.46 $1,415.21 $0.00 $1,100.05 $197,071.72
104 $197,071.72 $1,415.21 $0.00 $1,114.27 $199,601.20
105 $199,601.20 $1,415.21 $0.00 $1,128.57 $202,144.98
106 $202,144.98 $1,415.21 $0.00 $1,142.96 $204,703.15
107 $204,703.15 $1,415.21 $0.00 $1,157.42 $207,275.78
108 $207,275.78 $1,415.21 $0.00 $1,171.97 $209,862.96
109 $209,862.96 $1,415.21 $0.00 $1,186.60 $212,464.77
110 $212,464.77 $1,415.21 $0.00 $1,201.31 $215,081.29
111 $215,081.29 $1,415.21 $0.00 $1,216.10 $217,712.60
112 $217,712.60 $1,415.21 $0.00 $1,230.98 $220,358.79
113 $220,358.79 $1,415.21 $0.00 $1,245.94 $223,019.94
114 $223,019.94 $1,415.21 $0.00 $1,260.99 $225,696.14
115 $225,696.14 $1,415.21 $0.00 $1,276.12 $228,387.47
116 $228,387.47 $1,415.21 $0.00 $1,291.34 $231,094.02
117 $231,094.02 $1,415.21 $0.00 $1,306.64 $233,815.87
118 $233,815.87 $1,415.21 $0.00 $1,322.03 $236,553.11
119 $236,553.11 $1,415.21 $0.00 $1,337.51 $239,305.83
120 $239,305.83 $1,415.21 $0.00 $1,353.07 $242,074.11
121 $242,074.11 $1,415.21 $0.00 $1,368.72 $244,858.04
122 $244,858.04 $1,415.21 $0.00 $1,384.46 $247,657.71
123 $247,657.71 $1,415.21 $0.00 $1,400.29 $250,473.21
124 $250,473.21 $1,415.21 $0.00 $1,416.21 $253,304.63
125 $253,304.63 $1,415.21 $0.00 $1,432.22 $256,152.06
126 $256,152.06 $1,415.21 $0.00 $1,448.32 $259,015.59
127 $259,015.59 $1,415.21 $0.00 $1,464.51 $261,895.31
128 $261,895.31 $1,415.21 $0.00 $1,480.79 $264,791.31
129 $264,791.31 $1,415.21 $0.00 $1,497.17 $267,703.69
130 $267,703.69 $1,415.21 $0.00 $1,513.64 $270,632.54
131 $270,632.54 $1,415.21 $0.00 $1,530.20 $273,577.95
132 $273,577.95 $1,415.21 $0.00 $1,546.85 $276,540.01
133 $276,540.01 $1,415.21 $0.00 $1,563.60 $279,518.82
134 $279,518.82 $1,415.21 $0.00 $1,580.44 $282,514.47
135 $282,514.47 $1,415.21 $0.00 $1,597.38 $285,527.06
136 $285,527.06 $1,415.21 $0.00 $1,614.41 $288,556.68
137 $288,556.68 $1,415.21 $0.00 $1,631.54 $291,603.43
138 $291,603.43 $1,415.21 $0.00 $1,648.77 $294,667.41
139 $294,667.41 $1,415.21 $0.00 $1,666.09 $297,748.71
140 $297,748.71 $1,415.21 $0.00 $1,683.51 $300,847.43
141 $300,847.43 $1,415.21 $0.00 $1,701.04 $303,963.68
142 $303,963.68 $1,415.21 $0.00 $1,718.65 $307,097.54
143 $307,097.54 $1,415.21 $0.00 $1,736.37 $310,249.12
144 $310,249.12 $1,415.21 $0.00 $1,754.19 $313,418.52
145 $313,418.52 $1,415.21 $0.00 $1,772.11 $316,605.84
146 $316,605.84 $1,415.21 $0.00 $1,790.14 $319,811.19
147 $319,811.19 $1,415.21 $0.00 $1,808.26 $323,034.66
148 $323,034.66 $1,415.21 $0.00 $1,826.48 $326,276.35
149 $326,276.35 $1,415.21 $0.00 $1,844.81 $329,536.37
150 $329,536.37 $1,415.21 $0.00 $1,863.25 $332,814.83
151 $332,814.83 $1,415.21 $0.00 $1,881.78 $336,111.82
152 $336,111.82 $1,415.21 $0.00 $1,900.43 $339,427.46
153 $339,427.46 $1,415.21 $0.00 $1,919.17 $342,761.84
154 $342,761.84 $1,415.21 $0.00 $1,938.03 $346,115.08
155 $346,115.08 $1,415.21 $0.00 $1,956.98 $349,487.27
156 $349,487.27 $1,415.21 $0.00 $1,976.05 $352,878.53
157 $352,878.53 $1,415.21 $0.00 $1,995.23 $356,288.97
158 $356,288.97 $1,415.21 $0.00 $2,014.51 $359,718.69
159 $359,718.69 $1,415.21 $0.00 $2,033.90 $363,167.80
160 $363,167.80 $1,415.21 $0.00 $2,053.40 $366,636.41
161 $366,636.41 $1,415.21 $0.00 $2,073.02 $370,124.64
162 $370,124.64 $1,415.21 $0.00 $2,092.74 $373,632.59
163 $373,632.59 $1,415.21 $0.00 $2,112.57 $377,160.37
164 $377,160.37 $1,415.21 $0.00 $2,132.52 $380,708.10
165 $380,708.10 $1,415.21 $0.00 $2,152.58 $384,275.89
166 $384,275.89 $1,415.21 $0.00 $2,172.75 $387,863.85
167 $387,863.85 $1,415.21 $0.00 $2,193.04 $391,472.10
168 $391,472.10 $1,415.21 $0.00 $2,213.44 $395,100.75
169 $395,100.75 $1,415.21 $0.00 $2,233.96 $398,749.92
170 $398,749.92 $1,415.21 $0.00 $2,254.59 $402,419.72
171 $402,419.72 $1,415.21 $0.00 $2,275.34 $406,110.27
172 $406,110.27 $1,415.21 $0.00 $2,296.21 $409,821.69
173 $409,821.69 $1,415.21 $0.00 $2,317.19 $413,554.09
174 $413,554.09 $1,415.21 $0.00 $2,338.29 $417,307.59
175 $417,307.59 $1,415.21 $0.00 $2,359.52 $421,082.32
176 $421,082.32 $1,415.21 $0.00 $2,380.86 $424,878.39
177 $424,878.39 $1,415.21 $0.00 $2,402.32 $428,695.92
178 $428,695.92 $1,415.21 $0.00 $2,423.91 $432,535.04
179 $432,535.04 $1,415.21 $0.00 $2,445.62 $436,395.87
180 $436,395.87 $1,415.21 $0.00 $2,467.45 $440,278.53
181 $440,278.53 $1,415.21 $0.00 $2,489.40 $444,183.14
182 $444,183.14 $1,415.21 $0.00 $2,511.48 $448,109.83
183 $448,109.83 $1,415.21 $0.00 $2,533.68 $452,058.72
184 $452,058.72 $1,415.21 $0.00 $2,556.01 $456,029.94
185 $456,029.94 $1,415.21 $0.00 $2,578.46 $460,023.61
186 $460,023.61 $1,415.21 $0.00 $2,601.04 $464,039.86
187 $464,039.86 $1,415.21 $0.00 $2,623.75 $468,078.82
188 $468,078.82 $1,415.21 $0.00 $2,646.59 $472,140.62
189 $472,140.62 $1,415.21 $0.00 $2,669.55 $476,225.38
190 $476,225.38 $1,415.21 $0.00 $2,692.65 $480,333.24
191 $480,333.24 $1,415.21 $0.00 $2,715.87 $484,464.32
192 $484,464.32 $1,415.21 $0.00 $2,739.23 $488,618.76
193 $488,618.76 $1,415.21 $0.00 $2,762.72 $492,796.69
194 $492,796.69 $1,415.21 $0.00 $2,786.34 $496,998.24
195 $496,998.24 $1,415.21 $0.00 $2,810.10 $501,223.55
196 $501,223.55 $1,415.21 $0.00 $2,833.99 $505,472.75
197 $505,472.75 $1,415.21 $0.00 $2,858.02 $509,745.98
198 $509,745.98 $1,415.21 $0.00 $2,882.18 $514,043.37
199 $514,043.37 $1,415.21 $0.00 $2,906.48 $518,365.06
200 $518,365.06 $1,415.21 $0.00 $2,930.91 $522,711.18
201 $522,711.18 $1,415.21 $0.00 $2,955.49 $527,081.88
202 $527,081.88 $1,415.21 $0.00 $2,980.20 $531,477.29
203 $531,477.29 $1,415.21 $0.00 $3,005.05 $535,897.55
204 $535,897.55 $1,415.21 $0.00 $3,030.04 $540,342.80
205 $540,342.80 $1,415.21 $0.00 $3,055.18 $544,813.19
206 $544,813.19 $1,415.21 $0.00 $3,080.45 $549,308.85
207 $549,308.85 $1,415.21 $0.00 $3,105.87 $553,829.93
208 $553,829.93 $1,415.21 $0.00 $3,131.43 $558,376.57
209 $558,376.57 $1,415.21 $0.00 $3,157.14 $562,948.92
210 $562,948.92 $1,415.21 $0.00 $3,183.00 $567,547.13
211 $567,547.13 $1,415.21 $0.00 $3,208.99 $572,171.33
212 $572,171.33 $1,415.21 $0.00 $3,235.14 $576,821.68
213 $576,821.68 $1,415.21 $0.00 $3,261.43 $581,498.32
214 $581,498.32 $1,415.21 $0.00 $3,287.88 $586,201.41
215 $586,201.41 $1,415.21 $0.00 $3,314.47 $590,931.09
216 $590,931.09 $1,415.21 $0.00 $3,341.21 $595,687.51
217 $595,687.51 $1,415.21 $161,324.17 $3,368.10 $439,146.65
218 $439,146.65 $1,415.21 $0.00 $2,483.00 $443,044.86
219 $443,044.86 $1,415.21 $0.00 $2,505.04 $446,965.11
220 $446,965.11 $1,415.21 $0.00 $2,527.21 $450,907.53
221 $450,907.53 $1,415.21 $0.00 $2,549.50 $454,872.24
222 $454,872.24 $1,415.21 $0.00 $2,571.91 $458,859.36
223 $458,859.36 $1,415.21 $0.00 $2,594.46 $462,869.03
224 $462,869.03 $1,415.21 $0.00 $2,617.13 $466,901.37
225 $466,901.37 $1,415.21 $0.00 $2,639.93 $470,956.51
226 $470,956.51 $1,415.21 $0.00 $2,662.86 $475,034.58
227 $475,034.58 $1,415.21 $0.00 $2,685.91 $479,135.70
228 $479,135.70 $1,415.21 $0.00 $2,709.10 $483,260.01
229 $483,260.01 $1,415.21 $172,616.86 $2,732.42 $314,790.78
230 $314,790.78 $1,415.21 $0.00 $1,779.87 $317,985.86
231 $317,985.86 $1,415.21 $0.00 $1,797.94 $321,199.01
232 $321,199.01 $1,415.21 $0.00 $1,816.11 $324,430.33
233 $324,430.33 $1,415.21 $0.00 $1,834.38 $327,679.92
234 $327,679.92 $1,415.21 $0.00 $1,852.75 $330,947.88
235 $330,947.88 $1,415.21 $0.00 $1,871.23 $334,234.32
236 $334,234.32 $1,415.21 $0.00 $1,889.81 $337,539.34
237 $337,539.34 $1,415.21 $0.00 $1,908.50 $340,863.05
238 $340,863.05 $1,415.21 $0.00 $1,927.29 $344,205.55
239 $344,205.55 $1,415.21 $0.00 $1,946.19 $347,566.95
240 $347,566.95 $1,415.21 $0.00 $1,965.19 $350,947.35
241 $350,947.35 $1,415.21 $184,700.04 $1,984.31 $169,646.83
242 $169,646.83 $1,415.21 $0.00 $959.21 $172,021.25
243 $172,021.25 $1,415.21 $0.00 $972.63 $174,409.09
244 $174,409.09 $1,415.21 $0.00 $986.13 $176,810.43
245 $176,810.43 $1,415.21 $0.00 $999.71 $179,225.35
246 $179,225.35 $1,415.21 $0.00 $1,013.37 $181,653.93
247 $181,653.93 $1,415.21 $0.00 $1,027.10 $184,096.24
248 $184,096.24 $1,415.21 $0.00 $1,040.91 $186,552.36
249 $186,552.36 $1,415.21 $0.00 $1,054.79 $189,022.36
250 $189,022.36 $1,415.21 $0.00 $1,068.76 $191,506.33
251 $191,506.33 $1,415.21 $0.00 $1,082.80 $194,004.34
252 $194,004.34 $1,415.21 $0.00 $1,096.93 $196,516.48
253 $196,516.48 $0.00 $197,629.04 $1,111.13 -$1.43