Savings Plan and Future Cost Estimation for Carnegie Mellon University

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$300,997
Monthly savings required$2,379

How much will it cost to send your child to Carnegie Mellon University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $1,203,988.07 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $2,378.85 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$80,230.00
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 $2,378.85 $0.00 $0.00 $2,378.85
2 $2,378.85 $2,378.85 $0.00 $13.45 $4,771.15
3 $4,771.15 $2,378.85 $0.00 $26.98 $7,176.98
4 $7,176.98 $2,378.85 $0.00 $40.58 $9,596.41
5 $9,596.41 $2,378.85 $0.00 $54.26 $12,029.52
6 $12,029.52 $2,378.85 $0.00 $68.02 $14,476.39
7 $14,476.39 $2,378.85 $0.00 $81.85 $16,937.09
8 $16,937.09 $2,378.85 $0.00 $95.76 $19,411.70
9 $19,411.70 $2,378.85 $0.00 $109.76 $21,900.31
10 $21,900.31 $2,378.85 $0.00 $123.83 $24,402.99
11 $24,402.99 $2,378.85 $0.00 $137.98 $26,919.82
12 $26,919.82 $2,378.85 $0.00 $152.21 $29,450.88
13 $29,450.88 $2,378.85 $0.00 $166.52 $31,996.25
14 $31,996.25 $2,378.85 $0.00 $180.91 $34,556.01
15 $34,556.01 $2,378.85 $0.00 $195.38 $37,130.24
16 $37,130.24 $2,378.85 $0.00 $209.94 $39,719.03
17 $39,719.03 $2,378.85 $0.00 $224.58 $42,322.46
18 $42,322.46 $2,378.85 $0.00 $239.30 $44,940.61
19 $44,940.61 $2,378.85 $0.00 $254.10 $47,573.56
20 $47,573.56 $2,378.85 $0.00 $268.99 $50,221.40
21 $50,221.40 $2,378.85 $0.00 $283.96 $52,884.21
22 $52,884.21 $2,378.85 $0.00 $299.02 $55,562.08
23 $55,562.08 $2,378.85 $0.00 $314.16 $58,255.09
24 $58,255.09 $2,378.85 $0.00 $329.38 $60,963.32
25 $60,963.32 $2,378.85 $0.00 $344.70 $63,686.87
26 $63,686.87 $2,378.85 $0.00 $360.09 $66,425.81
27 $66,425.81 $2,378.85 $0.00 $375.58 $69,180.24
28 $69,180.24 $2,378.85 $0.00 $391.16 $71,950.25
29 $71,950.25 $2,378.85 $0.00 $406.82 $74,735.92
30 $74,735.92 $2,378.85 $0.00 $422.57 $77,537.34
31 $77,537.34 $2,378.85 $0.00 $438.41 $80,354.60
32 $80,354.60 $2,378.85 $0.00 $454.34 $83,187.79
33 $83,187.79 $2,378.85 $0.00 $470.36 $86,037.00
34 $86,037.00 $2,378.85 $0.00 $486.47 $88,902.32
35 $88,902.32 $2,378.85 $0.00 $502.67 $91,783.84
36 $91,783.84 $2,378.85 $0.00 $518.96 $94,681.65
37 $94,681.65 $2,378.85 $0.00 $535.34 $97,595.84
38 $97,595.84 $2,378.85 $0.00 $551.82 $100,526.51
39 $100,526.51 $2,378.85 $0.00 $568.39 $103,473.75
40 $103,473.75 $2,378.85 $0.00 $585.06 $106,437.66
41 $106,437.66 $2,378.85 $0.00 $601.81 $109,418.32
42 $109,418.32 $2,378.85 $0.00 $618.67 $112,415.84
43 $112,415.84 $2,378.85 $0.00 $635.62 $115,430.31
44 $115,430.31 $2,378.85 $0.00 $652.66 $118,461.82
45 $118,461.82 $2,378.85 $0.00 $669.80 $121,510.47
46 $121,510.47 $2,378.85 $0.00 $687.04 $124,576.36
47 $124,576.36 $2,378.85 $0.00 $704.37 $127,659.58
48 $127,659.58 $2,378.85 $0.00 $721.81 $130,760.24
49 $130,760.24 $2,378.85 $0.00 $739.34 $133,878.43
50 $133,878.43 $2,378.85 $0.00 $756.97 $137,014.25
51 $137,014.25 $2,378.85 $0.00 $774.70 $140,167.80
52 $140,167.80 $2,378.85 $0.00 $792.53 $143,339.18
53 $143,339.18 $2,378.85 $0.00 $810.46 $146,528.49
54 $146,528.49 $2,378.85 $0.00 $828.49 $149,735.83
55 $149,735.83 $2,378.85 $0.00 $846.63 $152,961.31
56 $152,961.31 $2,378.85 $0.00 $864.87 $156,205.03
57 $156,205.03 $2,378.85 $0.00 $883.21 $159,467.09
58 $159,467.09 $2,378.85 $0.00 $901.65 $162,747.59
59 $162,747.59 $2,378.85 $0.00 $920.20 $166,046.64
60 $166,046.64 $2,378.85 $0.00 $938.85 $169,364.34
61 $169,364.34 $2,378.85 $0.00 $957.61 $172,700.80
62 $172,700.80 $2,378.85 $0.00 $976.48 $176,056.13
63 $176,056.13 $2,378.85 $0.00 $995.45 $179,430.43
64 $179,430.43 $2,378.85 $0.00 $1,014.53 $182,823.81
65 $182,823.81 $2,378.85 $0.00 $1,033.71 $186,236.37
66 $186,236.37 $2,378.85 $0.00 $1,053.01 $189,668.23
67 $189,668.23 $2,378.85 $0.00 $1,072.41 $193,119.49
68 $193,119.49 $2,378.85 $0.00 $1,091.93 $196,590.27
69 $196,590.27 $2,378.85 $0.00 $1,111.55 $200,080.67
70 $200,080.67 $2,378.85 $0.00 $1,131.29 $203,590.81
71 $203,590.81 $2,378.85 $0.00 $1,151.13 $207,120.79
72 $207,120.79 $2,378.85 $0.00 $1,171.09 $210,670.73
73 $210,670.73 $2,378.85 $0.00 $1,191.16 $214,240.74
74 $214,240.74 $2,378.85 $0.00 $1,211.35 $217,830.94
75 $217,830.94 $2,378.85 $0.00 $1,231.65 $221,441.44
76 $221,441.44 $2,378.85 $0.00 $1,252.06 $225,072.35
77 $225,072.35 $2,378.85 $0.00 $1,272.59 $228,723.79
78 $228,723.79 $2,378.85 $0.00 $1,293.24 $232,395.88
79 $232,395.88 $2,378.85 $0.00 $1,314.00 $236,088.73
80 $236,088.73 $2,378.85 $0.00 $1,334.88 $239,802.46
81 $239,802.46 $2,378.85 $0.00 $1,355.88 $243,537.19
82 $243,537.19 $2,378.85 $0.00 $1,376.99 $247,293.03
83 $247,293.03 $2,378.85 $0.00 $1,398.23 $251,070.11
84 $251,070.11 $2,378.85 $0.00 $1,419.59 $254,868.55
85 $254,868.55 $2,378.85 $0.00 $1,441.06 $258,688.46
86 $258,688.46 $2,378.85 $0.00 $1,462.66 $262,529.97
87 $262,529.97 $2,378.85 $0.00 $1,484.38 $266,393.20
88 $266,393.20 $2,378.85 $0.00 $1,506.23 $270,278.28
89 $270,278.28 $2,378.85 $0.00 $1,528.19 $274,185.32
90 $274,185.32 $2,378.85 $0.00 $1,550.28 $278,114.45
91 $278,114.45 $2,378.85 $0.00 $1,572.50 $282,065.80
92 $282,065.80 $2,378.85 $0.00 $1,594.84 $286,039.49
93 $286,039.49 $2,378.85 $0.00 $1,617.31 $290,035.65
94 $290,035.65 $2,378.85 $0.00 $1,639.90 $294,054.40
95 $294,054.40 $2,378.85 $0.00 $1,662.63 $298,095.88
96 $298,095.88 $2,378.85 $0.00 $1,685.48 $302,160.21
97 $302,160.21 $2,378.85 $0.00 $1,708.46 $306,247.52
98 $306,247.52 $2,378.85 $0.00 $1,731.57 $310,357.94
99 $310,357.94 $2,378.85 $0.00 $1,754.81 $314,491.60
100 $314,491.60 $2,378.85 $0.00 $1,778.18 $318,648.63
101 $318,648.63 $2,378.85 $0.00 $1,801.69 $322,829.17
102 $322,829.17 $2,378.85 $0.00 $1,825.32 $327,033.34
103 $327,033.34 $2,378.85 $0.00 $1,849.09 $331,261.28
104 $331,261.28 $2,378.85 $0.00 $1,873.00 $335,513.13
105 $335,513.13 $2,378.85 $0.00 $1,897.04 $339,789.02
106 $339,789.02 $2,378.85 $0.00 $1,921.22 $344,089.09
107 $344,089.09 $2,378.85 $0.00 $1,945.53 $348,413.47
108 $348,413.47 $2,378.85 $0.00 $1,969.98 $352,762.30
109 $352,762.30 $2,378.85 $0.00 $1,994.57 $357,135.72
110 $357,135.72 $2,378.85 $0.00 $2,019.30 $361,533.87
111 $361,533.87 $2,378.85 $0.00 $2,044.17 $365,956.89
112 $365,956.89 $2,378.85 $0.00 $2,069.17 $370,404.91
113 $370,404.91 $2,378.85 $0.00 $2,094.32 $374,878.08
114 $374,878.08 $2,378.85 $0.00 $2,119.62 $379,376.55
115 $379,376.55 $2,378.85 $0.00 $2,145.05 $383,900.45
116 $383,900.45 $2,378.85 $0.00 $2,170.63 $388,449.93
117 $388,449.93 $2,378.85 $0.00 $2,196.35 $393,025.13
118 $393,025.13 $2,378.85 $0.00 $2,222.22 $397,626.20
119 $397,626.20 $2,378.85 $0.00 $2,248.24 $402,253.29
120 $402,253.29 $2,378.85 $0.00 $2,274.40 $406,906.54
121 $406,906.54 $2,378.85 $0.00 $2,300.71 $411,586.10
122 $411,586.10 $2,378.85 $0.00 $2,327.17 $416,292.12
123 $416,292.12 $2,378.85 $0.00 $2,353.78 $421,024.75
124 $421,024.75 $2,378.85 $0.00 $2,380.54 $425,784.14
125 $425,784.14 $2,378.85 $0.00 $2,407.45 $430,570.44
126 $430,570.44 $2,378.85 $0.00 $2,434.51 $435,383.80
127 $435,383.80 $2,378.85 $0.00 $2,461.72 $440,224.37
128 $440,224.37 $2,378.85 $0.00 $2,489.09 $445,092.31
129 $445,092.31 $2,378.85 $0.00 $2,516.62 $449,987.78
130 $449,987.78 $2,378.85 $0.00 $2,544.30 $454,910.93
131 $454,910.93 $2,378.85 $0.00 $2,572.13 $459,861.91
132 $459,861.91 $2,378.85 $0.00 $2,600.13 $464,840.89
133 $464,840.89 $2,378.85 $0.00 $2,628.28 $469,848.02
134 $469,848.02 $2,378.85 $0.00 $2,656.59 $474,883.46
135 $474,883.46 $2,378.85 $0.00 $2,685.06 $479,947.37
136 $479,947.37 $2,378.85 $0.00 $2,713.69 $485,039.91
137 $485,039.91 $2,378.85 $0.00 $2,742.49 $490,161.25
138 $490,161.25 $2,378.85 $0.00 $2,771.44 $495,311.54
139 $495,311.54 $2,378.85 $0.00 $2,800.56 $500,490.95
140 $500,490.95 $2,378.85 $0.00 $2,829.85 $505,699.65
141 $505,699.65 $2,378.85 $0.00 $2,859.30 $510,937.80
142 $510,937.80 $2,378.85 $0.00 $2,888.92 $516,205.57
143 $516,205.57 $2,378.85 $0.00 $2,918.70 $521,503.12
144 $521,503.12 $2,378.85 $0.00 $2,948.65 $526,830.62
145 $526,830.62 $2,378.85 $0.00 $2,978.78 $532,188.25
146 $532,188.25 $2,378.85 $0.00 $3,009.07 $537,576.17
147 $537,576.17 $2,378.85 $0.00 $3,039.53 $542,994.55
148 $542,994.55 $2,378.85 $0.00 $3,070.17 $548,443.57
149 $548,443.57 $2,378.85 $0.00 $3,100.98 $553,923.40
150 $553,923.40 $2,378.85 $0.00 $3,131.96 $559,434.21
151 $559,434.21 $2,378.85 $0.00 $3,163.12 $564,976.18
152 $564,976.18 $2,378.85 $0.00 $3,194.46 $570,549.49
153 $570,549.49 $2,378.85 $0.00 $3,225.97 $576,154.31
154 $576,154.31 $2,378.85 $0.00 $3,257.66 $581,790.82
155 $581,790.82 $2,378.85 $0.00 $3,289.53 $587,459.20
156 $587,459.20 $2,378.85 $0.00 $3,321.58 $593,159.63
157 $593,159.63 $2,378.85 $0.00 $3,353.81 $598,892.29
158 $598,892.29 $2,378.85 $0.00 $3,386.22 $604,657.36
159 $604,657.36 $2,378.85 $0.00 $3,418.82 $610,455.03
160 $610,455.03 $2,378.85 $0.00 $3,451.60 $616,285.48
161 $616,285.48 $2,378.85 $0.00 $3,484.57 $622,148.90
162 $622,148.90 $2,378.85 $0.00 $3,517.72 $628,045.47
163 $628,045.47 $2,378.85 $0.00 $3,551.06 $633,975.38
164 $633,975.38 $2,378.85 $0.00 $3,584.59 $639,938.82
165 $639,938.82 $2,378.85 $0.00 $3,618.31 $645,935.98
166 $645,935.98 $2,378.85 $0.00 $3,652.22 $651,967.05
167 $651,967.05 $2,378.85 $0.00 $3,686.32 $658,032.22
168 $658,032.22 $2,378.85 $0.00 $3,720.61 $664,131.68
169 $664,131.68 $2,378.85 $0.00 $3,755.10 $670,265.63
170 $670,265.63 $2,378.85 $0.00 $3,789.78 $676,434.26
171 $676,434.26 $2,378.85 $0.00 $3,824.66 $682,637.77
172 $682,637.77 $2,378.85 $0.00 $3,859.73 $688,876.35
173 $688,876.35 $2,378.85 $0.00 $3,895.01 $695,150.21
174 $695,150.21 $2,378.85 $0.00 $3,930.48 $701,459.54
175 $701,459.54 $2,378.85 $0.00 $3,966.15 $707,804.54
176 $707,804.54 $2,378.85 $0.00 $4,002.03 $714,185.42
177 $714,185.42 $2,378.85 $0.00 $4,038.11 $720,602.38
178 $720,602.38 $2,378.85 $0.00 $4,074.39 $727,055.62
179 $727,055.62 $2,378.85 $0.00 $4,110.88 $733,545.35
180 $733,545.35 $2,378.85 $0.00 $4,147.57 $740,071.77
181 $740,071.77 $2,378.85 $0.00 $4,184.47 $746,635.09
182 $746,635.09 $2,378.85 $0.00 $4,221.58 $753,235.52
183 $753,235.52 $2,378.85 $0.00 $4,258.90 $759,873.27
184 $759,873.27 $2,378.85 $0.00 $4,296.43 $766,548.55
185 $766,548.55 $2,378.85 $0.00 $4,334.18 $773,261.58
186 $773,261.58 $2,378.85 $0.00 $4,372.13 $780,012.56
187 $780,012.56 $2,378.85 $0.00 $4,410.30 $786,801.71
188 $786,801.71 $2,378.85 $0.00 $4,448.69 $793,629.25
189 $793,629.25 $2,378.85 $0.00 $4,487.30 $800,495.40
190 $800,495.40 $2,378.85 $0.00 $4,526.12 $807,400.37
191 $807,400.37 $2,378.85 $0.00 $4,565.16 $814,344.38
192 $814,344.38 $2,378.85 $0.00 $4,604.42 $821,327.65
193 $821,327.65 $2,378.85 $0.00 $4,643.91 $828,350.41
194 $828,350.41 $2,378.85 $0.00 $4,683.61 $835,412.87
195 $835,412.87 $2,378.85 $0.00 $4,723.55 $842,515.27
196 $842,515.27 $2,378.85 $0.00 $4,763.70 $849,657.82
197 $849,657.82 $2,378.85 $0.00 $4,804.09 $856,840.76
198 $856,840.76 $2,378.85 $0.00 $4,844.70 $864,064.31
199 $864,064.31 $2,378.85 $0.00 $4,885.55 $871,328.71
200 $871,328.71 $2,378.85 $0.00 $4,926.62 $878,634.18
201 $878,634.18 $2,378.85 $0.00 $4,967.93 $885,980.96
202 $885,980.96 $2,378.85 $0.00 $5,009.47 $893,369.28
203 $893,369.28 $2,378.85 $0.00 $5,051.24 $900,799.37
204 $900,799.37 $2,378.85 $0.00 $5,093.25 $908,271.47
205 $908,271.47 $2,378.85 $0.00 $5,135.50 $915,785.82
206 $915,785.82 $2,378.85 $0.00 $5,177.99 $923,342.66
207 $923,342.66 $2,378.85 $0.00 $5,220.71 $930,942.22
208 $930,942.22 $2,378.85 $0.00 $5,263.68 $938,584.75
209 $938,584.75 $2,378.85 $0.00 $5,306.89 $946,270.49
210 $946,270.49 $2,378.85 $0.00 $5,350.35 $953,999.69
211 $953,999.69 $2,378.85 $0.00 $5,394.05 $961,772.59
212 $961,772.59 $2,378.85 $0.00 $5,438.00 $969,589.44
213 $969,589.44 $2,378.85 $0.00 $5,482.20 $977,450.49
214 $977,450.49 $2,378.85 $0.00 $5,526.65 $985,355.99
215 $985,355.99 $2,378.85 $0.00 $5,571.35 $993,306.19
216 $993,306.19 $2,378.85 $0.00 $5,616.30 $1,001,301.34
217 $1,001,301.34 $2,378.85 $271,171.97 $5,661.50 $738,169.72
218 $738,169.72 $2,378.85 $0.00 $4,173.72 $744,722.29
219 $744,722.29 $2,378.85 $0.00 $4,210.77 $751,311.91
220 $751,311.91 $2,378.85 $0.00 $4,248.03 $757,938.79
221 $757,938.79 $2,378.85 $0.00 $4,285.50 $764,603.14
222 $764,603.14 $2,378.85 $0.00 $4,323.18 $771,305.17
223 $771,305.17 $2,378.85 $0.00 $4,361.07 $778,045.09
224 $778,045.09 $2,378.85 $0.00 $4,399.18 $784,823.12
225 $784,823.12 $2,378.85 $0.00 $4,437.50 $791,639.47
226 $791,639.47 $2,378.85 $0.00 $4,476.04 $798,494.36
227 $798,494.36 $2,378.85 $0.00 $4,514.80 $805,388.01
228 $805,388.01 $2,378.85 $0.00 $4,553.78 $812,320.64
229 $812,320.64 $2,378.85 $290,154.00 $4,592.98 $529,138.47
230 $529,138.47 $2,378.85 $0.00 $2,991.83 $534,509.15
231 $534,509.15 $2,378.85 $0.00 $3,022.19 $539,910.19
232 $539,910.19 $2,378.85 $0.00 $3,052.73 $545,341.77
233 $545,341.77 $2,378.85 $0.00 $3,083.44 $550,804.06
234 $550,804.06 $2,378.85 $0.00 $3,114.33 $556,297.24
235 $556,297.24 $2,378.85 $0.00 $3,145.39 $561,821.48
236 $561,821.48 $2,378.85 $0.00 $3,176.62 $567,376.95
237 $567,376.95 $2,378.85 $0.00 $3,208.03 $572,963.83
238 $572,963.83 $2,378.85 $0.00 $3,239.62 $578,582.30
239 $578,582.30 $2,378.85 $0.00 $3,271.39 $584,232.54
240 $584,232.54 $2,378.85 $0.00 $3,303.34 $589,914.73
241 $589,914.73 $2,378.85 $310,464.78 $3,335.46 $285,164.26
242 $285,164.26 $2,378.85 $0.00 $1,612.36 $289,155.47
243 $289,155.47 $2,378.85 $0.00 $1,634.93 $293,169.25
244 $293,169.25 $2,378.85 $0.00 $1,657.62 $297,205.72
245 $297,205.72 $2,378.85 $0.00 $1,680.44 $301,265.01
246 $301,265.01 $2,378.85 $0.00 $1,703.40 $305,347.26
247 $305,347.26 $2,378.85 $0.00 $1,726.48 $309,452.59
248 $309,452.59 $2,378.85 $0.00 $1,749.69 $313,581.13
249 $313,581.13 $2,378.85 $0.00 $1,773.03 $317,733.01
250 $317,733.01 $2,378.85 $0.00 $1,796.51 $321,908.37
251 $321,908.37 $2,378.85 $0.00 $1,820.12 $326,107.34
252 $326,107.34 $2,378.85 $0.00 $1,843.86 $330,330.05
253 $330,330.05 $0.00 $332,197.32 $1,867.73 $0.46