Savings Plan and Future Cost Estimation for Medaille College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$189,039
Monthly savings required$1,494

How much will it cost to send your child to Medaille College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $756,157.93 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,494.03 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$50,388.00
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 $1,494.03 $0.00 $0.00 $1,494.03
2 $1,494.03 $1,494.03 $0.00 $8.45 $2,996.51
3 $2,996.51 $1,494.03 $0.00 $16.94 $4,507.48
4 $4,507.48 $1,494.03 $0.00 $25.49 $6,027.00
5 $6,027.00 $1,494.03 $0.00 $34.08 $7,555.11
6 $7,555.11 $1,494.03 $0.00 $42.72 $9,091.86
7 $9,091.86 $1,494.03 $0.00 $51.41 $10,637.30
8 $10,637.30 $1,494.03 $0.00 $60.14 $12,191.47
9 $12,191.47 $1,494.03 $0.00 $68.93 $13,754.43
10 $13,754.43 $1,494.03 $0.00 $77.77 $15,326.23
11 $15,326.23 $1,494.03 $0.00 $86.66 $16,906.92
12 $16,906.92 $1,494.03 $0.00 $95.59 $18,496.54
13 $18,496.54 $1,494.03 $0.00 $104.58 $20,095.15
14 $20,095.15 $1,494.03 $0.00 $113.62 $21,702.80
15 $21,702.80 $1,494.03 $0.00 $122.71 $23,319.54
16 $23,319.54 $1,494.03 $0.00 $131.85 $24,945.42
17 $24,945.42 $1,494.03 $0.00 $141.05 $26,580.50
18 $26,580.50 $1,494.03 $0.00 $150.29 $28,224.82
19 $28,224.82 $1,494.03 $0.00 $159.59 $29,878.44
20 $29,878.44 $1,494.03 $0.00 $168.94 $31,541.41
21 $31,541.41 $1,494.03 $0.00 $178.34 $33,213.78
22 $33,213.78 $1,494.03 $0.00 $187.80 $34,895.61
23 $34,895.61 $1,494.03 $0.00 $197.30 $36,586.94
24 $36,586.94 $1,494.03 $0.00 $206.87 $38,287.84
25 $38,287.84 $1,494.03 $0.00 $216.49 $39,998.36
26 $39,998.36 $1,494.03 $0.00 $226.16 $41,718.55
27 $41,718.55 $1,494.03 $0.00 $235.88 $43,448.46
28 $43,448.46 $1,494.03 $0.00 $245.66 $45,188.15
29 $45,188.15 $1,494.03 $0.00 $255.50 $46,937.68
30 $46,937.68 $1,494.03 $0.00 $265.39 $48,697.10
31 $48,697.10 $1,494.03 $0.00 $275.34 $50,466.47
32 $50,466.47 $1,494.03 $0.00 $285.34 $52,245.84
33 $52,245.84 $1,494.03 $0.00 $295.41 $54,035.28
34 $54,035.28 $1,494.03 $0.00 $305.52 $55,834.83
35 $55,834.83 $1,494.03 $0.00 $315.70 $57,644.56
36 $57,644.56 $1,494.03 $0.00 $325.93 $59,464.52
37 $59,464.52 $1,494.03 $0.00 $336.22 $61,294.77
38 $61,294.77 $1,494.03 $0.00 $346.57 $63,135.37
39 $63,135.37 $1,494.03 $0.00 $356.98 $64,986.38
40 $64,986.38 $1,494.03 $0.00 $367.44 $66,847.85
41 $66,847.85 $1,494.03 $0.00 $377.97 $68,719.85
42 $68,719.85 $1,494.03 $0.00 $388.55 $70,602.43
43 $70,602.43 $1,494.03 $0.00 $399.20 $72,495.66
44 $72,495.66 $1,494.03 $0.00 $409.90 $74,399.59
45 $74,399.59 $1,494.03 $0.00 $420.67 $76,314.29
46 $76,314.29 $1,494.03 $0.00 $431.49 $78,239.81
47 $78,239.81 $1,494.03 $0.00 $442.38 $80,176.22
48 $80,176.22 $1,494.03 $0.00 $453.33 $82,123.58
49 $82,123.58 $1,494.03 $0.00 $464.34 $84,081.95
50 $84,081.95 $1,494.03 $0.00 $475.41 $86,051.39
51 $86,051.39 $1,494.03 $0.00 $486.55 $88,031.97
52 $88,031.97 $1,494.03 $0.00 $497.75 $90,023.75
53 $90,023.75 $1,494.03 $0.00 $509.01 $92,026.79
54 $92,026.79 $1,494.03 $0.00 $520.33 $94,041.15
55 $94,041.15 $1,494.03 $0.00 $531.72 $96,066.90
56 $96,066.90 $1,494.03 $0.00 $543.18 $98,104.11
57 $98,104.11 $1,494.03 $0.00 $554.69 $100,152.83
58 $100,152.83 $1,494.03 $0.00 $566.28 $102,213.14
59 $102,213.14 $1,494.03 $0.00 $577.93 $104,285.10
60 $104,285.10 $1,494.03 $0.00 $589.64 $106,368.77
61 $106,368.77 $1,494.03 $0.00 $601.42 $108,464.22
62 $108,464.22 $1,494.03 $0.00 $613.27 $110,571.52
63 $110,571.52 $1,494.03 $0.00 $625.19 $112,690.74
64 $112,690.74 $1,494.03 $0.00 $637.17 $114,821.94
65 $114,821.94 $1,494.03 $0.00 $649.22 $116,965.19
66 $116,965.19 $1,494.03 $0.00 $661.34 $119,120.56
67 $119,120.56 $1,494.03 $0.00 $673.52 $121,288.11
68 $121,288.11 $1,494.03 $0.00 $685.78 $123,467.92
69 $123,467.92 $1,494.03 $0.00 $698.11 $125,660.06
70 $125,660.06 $1,494.03 $0.00 $710.50 $127,864.59
71 $127,864.59 $1,494.03 $0.00 $722.96 $130,081.58
72 $130,081.58 $1,494.03 $0.00 $735.50 $132,311.11
73 $132,311.11 $1,494.03 $0.00 $748.11 $134,553.25
74 $134,553.25 $1,494.03 $0.00 $760.78 $136,808.06
75 $136,808.06 $1,494.03 $0.00 $773.53 $139,075.62
76 $139,075.62 $1,494.03 $0.00 $786.35 $141,356.00
77 $141,356.00 $1,494.03 $0.00 $799.25 $143,649.28
78 $143,649.28 $1,494.03 $0.00 $812.21 $145,955.52
79 $145,955.52 $1,494.03 $0.00 $825.25 $148,274.80
80 $148,274.80 $1,494.03 $0.00 $838.37 $150,607.20
81 $150,607.20 $1,494.03 $0.00 $851.56 $152,952.79
82 $152,952.79 $1,494.03 $0.00 $864.82 $155,311.64
83 $155,311.64 $1,494.03 $0.00 $878.15 $157,683.82
84 $157,683.82 $1,494.03 $0.00 $891.57 $160,069.42
85 $160,069.42 $1,494.03 $0.00 $905.06 $162,468.51
86 $162,468.51 $1,494.03 $0.00 $918.62 $164,881.16
87 $164,881.16 $1,494.03 $0.00 $932.26 $167,307.45
88 $167,307.45 $1,494.03 $0.00 $945.98 $169,747.46
89 $169,747.46 $1,494.03 $0.00 $959.78 $172,201.27
90 $172,201.27 $1,494.03 $0.00 $973.65 $174,668.95
91 $174,668.95 $1,494.03 $0.00 $987.60 $177,150.58
92 $177,150.58 $1,494.03 $0.00 $1,001.64 $179,646.25
93 $179,646.25 $1,494.03 $0.00 $1,015.75 $182,156.03
94 $182,156.03 $1,494.03 $0.00 $1,029.94 $184,680.00
95 $184,680.00 $1,494.03 $0.00 $1,044.21 $187,218.24
96 $187,218.24 $1,494.03 $0.00 $1,058.56 $189,770.83
97 $189,770.83 $1,494.03 $0.00 $1,072.99 $192,337.85
98 $192,337.85 $1,494.03 $0.00 $1,087.51 $194,919.39
99 $194,919.39 $1,494.03 $0.00 $1,102.10 $197,515.52
100 $197,515.52 $1,494.03 $0.00 $1,116.78 $200,126.33
101 $200,126.33 $1,494.03 $0.00 $1,131.54 $202,751.90
102 $202,751.90 $1,494.03 $0.00 $1,146.39 $205,392.32
103 $205,392.32 $1,494.03 $0.00 $1,161.32 $208,047.67
104 $208,047.67 $1,494.03 $0.00 $1,176.33 $210,718.03
105 $210,718.03 $1,494.03 $0.00 $1,191.43 $213,403.49
106 $213,403.49 $1,494.03 $0.00 $1,206.61 $216,104.13
107 $216,104.13 $1,494.03 $0.00 $1,221.88 $218,820.04
108 $218,820.04 $1,494.03 $0.00 $1,237.24 $221,551.31
109 $221,551.31 $1,494.03 $0.00 $1,252.68 $224,298.02
110 $224,298.02 $1,494.03 $0.00 $1,268.21 $227,060.26
111 $227,060.26 $1,494.03 $0.00 $1,283.83 $229,838.12
112 $229,838.12 $1,494.03 $0.00 $1,299.54 $232,631.69
113 $232,631.69 $1,494.03 $0.00 $1,315.33 $235,441.05
114 $235,441.05 $1,494.03 $0.00 $1,331.22 $238,266.30
115 $238,266.30 $1,494.03 $0.00 $1,347.19 $241,107.52
116 $241,107.52 $1,494.03 $0.00 $1,363.26 $243,964.81
117 $243,964.81 $1,494.03 $0.00 $1,379.41 $246,838.25
118 $246,838.25 $1,494.03 $0.00 $1,395.66 $249,727.94
119 $249,727.94 $1,494.03 $0.00 $1,412.00 $252,633.97
120 $252,633.97 $1,494.03 $0.00 $1,428.43 $255,556.43
121 $255,556.43 $1,494.03 $0.00 $1,444.95 $258,495.41
122 $258,495.41 $1,494.03 $0.00 $1,461.57 $261,451.01
123 $261,451.01 $1,494.03 $0.00 $1,478.28 $264,423.32
124 $264,423.32 $1,494.03 $0.00 $1,495.09 $267,412.44
125 $267,412.44 $1,494.03 $0.00 $1,511.99 $270,418.46
126 $270,418.46 $1,494.03 $0.00 $1,528.99 $273,441.48
127 $273,441.48 $1,494.03 $0.00 $1,546.08 $276,481.59
128 $276,481.59 $1,494.03 $0.00 $1,563.27 $279,538.89
129 $279,538.89 $1,494.03 $0.00 $1,580.55 $282,613.47
130 $282,613.47 $1,494.03 $0.00 $1,597.94 $285,705.44
131 $285,705.44 $1,494.03 $0.00 $1,615.42 $288,814.89
132 $288,814.89 $1,494.03 $0.00 $1,633.00 $291,941.92
133 $291,941.92 $1,494.03 $0.00 $1,650.68 $295,086.63
134 $295,086.63 $1,494.03 $0.00 $1,668.46 $298,249.12
135 $298,249.12 $1,494.03 $0.00 $1,686.34 $301,429.49
136 $301,429.49 $1,494.03 $0.00 $1,704.33 $304,627.85
137 $304,627.85 $1,494.03 $0.00 $1,722.41 $307,844.29
138 $307,844.29 $1,494.03 $0.00 $1,740.60 $311,078.92
139 $311,078.92 $1,494.03 $0.00 $1,758.89 $314,331.84
140 $314,331.84 $1,494.03 $0.00 $1,777.28 $317,603.15
141 $317,603.15 $1,494.03 $0.00 $1,795.77 $320,892.95
142 $320,892.95 $1,494.03 $0.00 $1,814.38 $324,201.36
143 $324,201.36 $1,494.03 $0.00 $1,833.08 $327,528.47
144 $327,528.47 $1,494.03 $0.00 $1,851.89 $330,874.39
145 $330,874.39 $1,494.03 $0.00 $1,870.81 $334,239.23
146 $334,239.23 $1,494.03 $0.00 $1,889.84 $337,623.10
147 $337,623.10 $1,494.03 $0.00 $1,908.97 $341,026.10
148 $341,026.10 $1,494.03 $0.00 $1,928.21 $344,448.34
149 $344,448.34 $1,494.03 $0.00 $1,947.56 $347,889.93
150 $347,889.93 $1,494.03 $0.00 $1,967.02 $351,350.98
151 $351,350.98 $1,494.03 $0.00 $1,986.59 $354,831.60
152 $354,831.60 $1,494.03 $0.00 $2,006.27 $358,331.90
153 $358,331.90 $1,494.03 $0.00 $2,026.06 $361,851.99
154 $361,851.99 $1,494.03 $0.00 $2,045.96 $365,391.98
155 $365,391.98 $1,494.03 $0.00 $2,065.98 $368,951.99
156 $368,951.99 $1,494.03 $0.00 $2,086.11 $372,532.13
157 $372,532.13 $1,494.03 $0.00 $2,106.35 $376,132.51
158 $376,132.51 $1,494.03 $0.00 $2,126.71 $379,753.25
159 $379,753.25 $1,494.03 $0.00 $2,147.18 $383,394.46
160 $383,394.46 $1,494.03 $0.00 $2,167.77 $387,056.26
161 $387,056.26 $1,494.03 $0.00 $2,188.47 $390,738.76
162 $390,738.76 $1,494.03 $0.00 $2,209.29 $394,442.08
163 $394,442.08 $1,494.03 $0.00 $2,230.23 $398,166.34
164 $398,166.34 $1,494.03 $0.00 $2,251.29 $401,911.66
165 $401,911.66 $1,494.03 $0.00 $2,272.47 $405,678.16
166 $405,678.16 $1,494.03 $0.00 $2,293.76 $409,465.95
167 $409,465.95 $1,494.03 $0.00 $2,315.18 $413,275.16
168 $413,275.16 $1,494.03 $0.00 $2,336.72 $417,105.91
169 $417,105.91 $1,494.03 $0.00 $2,358.38 $420,958.32
170 $420,958.32 $1,494.03 $0.00 $2,380.16 $424,832.51
171 $424,832.51 $1,494.03 $0.00 $2,402.06 $428,728.60
172 $428,728.60 $1,494.03 $0.00 $2,424.09 $432,646.72
173 $432,646.72 $1,494.03 $0.00 $2,446.25 $436,587.00
174 $436,587.00 $1,494.03 $0.00 $2,468.53 $440,549.56
175 $440,549.56 $1,494.03 $0.00 $2,490.93 $444,534.52
176 $444,534.52 $1,494.03 $0.00 $2,513.46 $448,542.01
177 $448,542.01 $1,494.03 $0.00 $2,536.12 $452,572.16
178 $452,572.16 $1,494.03 $0.00 $2,558.91 $456,625.10
179 $456,625.10 $1,494.03 $0.00 $2,581.82 $460,700.95
180 $460,700.95 $1,494.03 $0.00 $2,604.87 $464,799.85
181 $464,799.85 $1,494.03 $0.00 $2,628.05 $468,921.93
182 $468,921.93 $1,494.03 $0.00 $2,651.35 $473,067.31
183 $473,067.31 $1,494.03 $0.00 $2,674.79 $477,236.13
184 $477,236.13 $1,494.03 $0.00 $2,698.36 $481,428.52
185 $481,428.52 $1,494.03 $0.00 $2,722.07 $485,644.62
186 $485,644.62 $1,494.03 $0.00 $2,745.91 $489,884.56
187 $489,884.56 $1,494.03 $0.00 $2,769.88 $494,148.47
188 $494,148.47 $1,494.03 $0.00 $2,793.99 $498,436.49
189 $498,436.49 $1,494.03 $0.00 $2,818.23 $502,748.75
190 $502,748.75 $1,494.03 $0.00 $2,842.61 $507,085.39
191 $507,085.39 $1,494.03 $0.00 $2,867.13 $511,446.55
192 $511,446.55 $1,494.03 $0.00 $2,891.79 $515,832.37
193 $515,832.37 $1,494.03 $0.00 $2,916.59 $520,242.99
194 $520,242.99 $1,494.03 $0.00 $2,941.53 $524,678.55
195 $524,678.55 $1,494.03 $0.00 $2,966.61 $529,139.19
196 $529,139.19 $1,494.03 $0.00 $2,991.83 $533,625.05
197 $533,625.05 $1,494.03 $0.00 $3,017.19 $538,136.27
198 $538,136.27 $1,494.03 $0.00 $3,042.70 $542,673.00
199 $542,673.00 $1,494.03 $0.00 $3,068.35 $547,235.38
200 $547,235.38 $1,494.03 $0.00 $3,094.15 $551,823.56
201 $551,823.56 $1,494.03 $0.00 $3,120.09 $556,437.68
202 $556,437.68 $1,494.03 $0.00 $3,146.18 $561,077.89
203 $561,077.89 $1,494.03 $0.00 $3,172.42 $565,744.34
204 $565,744.34 $1,494.03 $0.00 $3,198.80 $570,437.17
205 $570,437.17 $1,494.03 $0.00 $3,225.33 $575,156.53
206 $575,156.53 $1,494.03 $0.00 $3,252.02 $579,902.58
207 $579,902.58 $1,494.03 $0.00 $3,278.85 $584,675.46
208 $584,675.46 $1,494.03 $0.00 $3,305.84 $589,475.33
209 $589,475.33 $1,494.03 $0.00 $3,332.98 $594,302.34
210 $594,302.34 $1,494.03 $0.00 $3,360.27 $599,156.64
211 $599,156.64 $1,494.03 $0.00 $3,387.72 $604,038.39
212 $604,038.39 $1,494.03 $0.00 $3,415.32 $608,947.74
213 $608,947.74 $1,494.03 $0.00 $3,443.08 $613,884.85
214 $613,884.85 $1,494.03 $0.00 $3,470.99 $618,849.87
215 $618,849.87 $1,494.03 $0.00 $3,499.07 $623,842.97
216 $623,842.97 $1,494.03 $0.00 $3,527.30 $628,864.30
217 $628,864.30 $1,494.03 $170,308.03 $3,555.69 $463,605.99
218 $463,605.99 $1,494.03 $0.00 $2,621.30 $467,721.32
219 $467,721.32 $1,494.03 $0.00 $2,644.56 $471,859.91
220 $471,859.91 $1,494.03 $0.00 $2,667.96 $476,021.90
221 $476,021.90 $1,494.03 $0.00 $2,691.50 $480,207.43
222 $480,207.43 $1,494.03 $0.00 $2,715.16 $484,416.62
223 $484,416.62 $1,494.03 $0.00 $2,738.96 $488,649.61
224 $488,649.61 $1,494.03 $0.00 $2,762.90 $492,906.54
225 $492,906.54 $1,494.03 $0.00 $2,786.97 $497,187.54
226 $497,187.54 $1,494.03 $0.00 $2,811.17 $501,492.74
227 $501,492.74 $1,494.03 $0.00 $2,835.51 $505,822.28
228 $505,822.28 $1,494.03 $0.00 $2,859.99 $510,176.30
229 $510,176.30 $1,494.03 $182,229.59 $2,884.61 $332,325.35
230 $332,325.35 $1,494.03 $0.00 $1,879.02 $335,698.40
231 $335,698.40 $1,494.03 $0.00 $1,898.09 $339,090.52
232 $339,090.52 $1,494.03 $0.00 $1,917.27 $342,501.82
233 $342,501.82 $1,494.03 $0.00 $1,936.56 $345,932.41
234 $345,932.41 $1,494.03 $0.00 $1,955.95 $349,382.39
235 $349,382.39 $1,494.03 $0.00 $1,975.46 $352,851.88
236 $352,851.88 $1,494.03 $0.00 $1,995.08 $356,340.99
237 $356,340.99 $1,494.03 $0.00 $2,014.80 $359,849.82
238 $359,849.82 $1,494.03 $0.00 $2,034.64 $363,378.49
239 $363,378.49 $1,494.03 $0.00 $2,054.59 $366,927.11
240 $366,927.11 $1,494.03 $0.00 $2,074.66 $370,495.80
241 $370,495.80 $1,494.03 $194,985.66 $2,094.84 $179,099.01
242 $179,099.01 $1,494.03 $0.00 $1,012.65 $181,605.69
243 $181,605.69 $1,494.03 $0.00 $1,026.82 $184,126.54
244 $184,126.54 $1,494.03 $0.00 $1,041.08 $186,661.65
245 $186,661.65 $1,494.03 $0.00 $1,055.41 $189,211.09
246 $189,211.09 $1,494.03 $0.00 $1,069.83 $191,774.95
247 $191,774.95 $1,494.03 $0.00 $1,084.32 $194,353.30
248 $194,353.30 $1,494.03 $0.00 $1,098.90 $196,946.23
249 $196,946.23 $1,494.03 $0.00 $1,113.56 $199,553.82
250 $199,553.82 $1,494.03 $0.00 $1,128.31 $202,176.16
251 $202,176.16 $1,494.03 $0.00 $1,143.13 $204,813.32
252 $204,813.32 $1,494.03 $0.00 $1,158.04 $207,465.39
253 $207,465.39 $0.00 $208,634.66 $1,173.04 $3.77