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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$51,122
Monthly savings required$227

How much will it cost to send your child to Southwestern College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $102,243.29 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $227.20 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$20,724.00
Years until enrollment18
Annual Tuition Increase5%
Current Savings$0.00
After Tax Return on Savings7%
Years of enrollment2

Current Savings Shortfall

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Planned Savings Balance

College Savings Schedule

Month Begin Deposit Withdraw Interest End
1 $0.00 $227.20 $0.00 $0.00 $227.20
2 $227.20 $227.20 $0.00 $1.28 $455.68
3 $455.68 $227.20 $0.00 $2.58 $685.46
4 $685.46 $227.20 $0.00 $3.88 $916.54
5 $916.54 $227.20 $0.00 $5.18 $1,148.92
6 $1,148.92 $227.20 $0.00 $6.50 $1,382.62
7 $1,382.62 $227.20 $0.00 $7.82 $1,617.64
8 $1,617.64 $227.20 $0.00 $9.15 $1,853.99
9 $1,853.99 $227.20 $0.00 $10.48 $2,091.67
10 $2,091.67 $227.20 $0.00 $11.83 $2,330.70
11 $2,330.70 $227.20 $0.00 $13.18 $2,571.08
12 $2,571.08 $227.20 $0.00 $14.54 $2,812.82
13 $2,812.82 $227.20 $0.00 $15.90 $3,055.92
14 $3,055.92 $227.20 $0.00 $17.28 $3,300.40
15 $3,300.40 $227.20 $0.00 $18.66 $3,546.26
16 $3,546.26 $227.20 $0.00 $20.05 $3,793.51
17 $3,793.51 $227.20 $0.00 $21.45 $4,042.16
18 $4,042.16 $227.20 $0.00 $22.85 $4,292.21
19 $4,292.21 $227.20 $0.00 $24.27 $4,543.68
20 $4,543.68 $227.20 $0.00 $25.69 $4,796.57
21 $4,796.57 $227.20 $0.00 $27.12 $5,050.89
22 $5,050.89 $227.20 $0.00 $28.56 $5,306.65
23 $5,306.65 $227.20 $0.00 $30.00 $5,563.85
24 $5,563.85 $227.20 $0.00 $31.46 $5,822.51
25 $5,822.51 $227.20 $0.00 $32.92 $6,082.63
26 $6,082.63 $227.20 $0.00 $34.39 $6,344.22
27 $6,344.22 $227.20 $0.00 $35.87 $6,607.29
28 $6,607.29 $227.20 $0.00 $37.36 $6,871.85
29 $6,871.85 $227.20 $0.00 $38.85 $7,137.90
30 $7,137.90 $227.20 $0.00 $40.36 $7,405.46
31 $7,405.46 $227.20 $0.00 $41.87 $7,674.53
32 $7,674.53 $227.20 $0.00 $43.39 $7,945.12
33 $7,945.12 $227.20 $0.00 $44.92 $8,217.24
34 $8,217.24 $227.20 $0.00 $46.46 $8,490.90
35 $8,490.90 $227.20 $0.00 $48.01 $8,766.11
36 $8,766.11 $227.20 $0.00 $49.56 $9,042.87
37 $9,042.87 $227.20 $0.00 $51.13 $9,321.20
38 $9,321.20 $227.20 $0.00 $52.70 $9,601.10
39 $9,601.10 $227.20 $0.00 $54.29 $9,882.59
40 $9,882.59 $227.20 $0.00 $55.88 $10,165.67
41 $10,165.67 $227.20 $0.00 $57.48 $10,450.35
42 $10,450.35 $227.20 $0.00 $59.09 $10,736.64
43 $10,736.64 $227.20 $0.00 $60.71 $11,024.55
44 $11,024.55 $227.20 $0.00 $62.33 $11,314.08
45 $11,314.08 $227.20 $0.00 $63.97 $11,605.25
46 $11,605.25 $227.20 $0.00 $65.62 $11,898.07
47 $11,898.07 $227.20 $0.00 $67.27 $12,192.54
48 $12,192.54 $227.20 $0.00 $68.94 $12,488.68
49 $12,488.68 $227.20 $0.00 $70.61 $12,786.49
50 $12,786.49 $227.20 $0.00 $72.30 $13,085.99
51 $13,085.99 $227.20 $0.00 $73.99 $13,387.18
52 $13,387.18 $227.20 $0.00 $75.69 $13,690.07
53 $13,690.07 $227.20 $0.00 $77.41 $13,994.68
54 $13,994.68 $227.20 $0.00 $79.13 $14,301.01
55 $14,301.01 $227.20 $0.00 $80.86 $14,609.07
56 $14,609.07 $227.20 $0.00 $82.60 $14,918.87
57 $14,918.87 $227.20 $0.00 $84.35 $15,230.42
58 $15,230.42 $227.20 $0.00 $86.12 $15,543.74
59 $15,543.74 $227.20 $0.00 $87.89 $15,858.83
60 $15,858.83 $227.20 $0.00 $89.67 $16,175.70
61 $16,175.70 $227.20 $0.00 $91.46 $16,494.36
62 $16,494.36 $227.20 $0.00 $93.26 $16,814.82
63 $16,814.82 $227.20 $0.00 $95.07 $17,137.09
64 $17,137.09 $227.20 $0.00 $96.90 $17,461.19
65 $17,461.19 $227.20 $0.00 $98.73 $17,787.12
66 $17,787.12 $227.20 $0.00 $100.57 $18,114.89
67 $18,114.89 $227.20 $0.00 $102.42 $18,444.51
68 $18,444.51 $227.20 $0.00 $104.29 $18,776.00
69 $18,776.00 $227.20 $0.00 $106.16 $19,109.36
70 $19,109.36 $227.20 $0.00 $108.05 $19,444.61
71 $19,444.61 $227.20 $0.00 $109.94 $19,781.75
72 $19,781.75 $227.20 $0.00 $111.85 $20,120.80
73 $20,120.80 $227.20 $0.00 $113.77 $20,461.77
74 $20,461.77 $227.20 $0.00 $115.69 $20,804.66
75 $20,804.66 $227.20 $0.00 $117.63 $21,149.49
76 $21,149.49 $227.20 $0.00 $119.58 $21,496.27
77 $21,496.27 $227.20 $0.00 $121.54 $21,845.01
78 $21,845.01 $227.20 $0.00 $123.51 $22,195.72
79 $22,195.72 $227.20 $0.00 $125.50 $22,548.42
80 $22,548.42 $227.20 $0.00 $127.49 $22,903.11
81 $22,903.11 $227.20 $0.00 $129.50 $23,259.81
82 $23,259.81 $227.20 $0.00 $131.51 $23,618.52
83 $23,618.52 $227.20 $0.00 $133.54 $23,979.26
84 $23,979.26 $227.20 $0.00 $135.58 $24,342.04
85 $24,342.04 $227.20 $0.00 $137.63 $24,706.87
86 $24,706.87 $227.20 $0.00 $139.70 $25,073.77
87 $25,073.77 $227.20 $0.00 $141.77 $25,442.74
88 $25,442.74 $227.20 $0.00 $143.86 $25,813.80
89 $25,813.80 $227.20 $0.00 $145.95 $26,186.95
90 $26,186.95 $227.20 $0.00 $148.06 $26,562.21
91 $26,562.21 $227.20 $0.00 $150.19 $26,939.60
92 $26,939.60 $227.20 $0.00 $152.32 $27,319.12
93 $27,319.12 $227.20 $0.00 $154.47 $27,700.79
94 $27,700.79 $227.20 $0.00 $156.62 $28,084.61
95 $28,084.61 $227.20 $0.00 $158.79 $28,470.60
96 $28,470.60 $227.20 $0.00 $160.98 $28,858.78
97 $28,858.78 $227.20 $0.00 $163.17 $29,249.15
98 $29,249.15 $227.20 $0.00 $165.38 $29,641.73
99 $29,641.73 $227.20 $0.00 $167.60 $30,036.53
100 $30,036.53 $227.20 $0.00 $169.83 $30,433.56
101 $30,433.56 $227.20 $0.00 $172.08 $30,832.84
102 $30,832.84 $227.20 $0.00 $174.33 $31,234.37
103 $31,234.37 $227.20 $0.00 $176.60 $31,638.17
104 $31,638.17 $227.20 $0.00 $178.89 $32,044.26
105 $32,044.26 $227.20 $0.00 $181.18 $32,452.64
106 $32,452.64 $227.20 $0.00 $183.49 $32,863.33
107 $32,863.33 $227.20 $0.00 $185.81 $33,276.34
108 $33,276.34 $227.20 $0.00 $188.15 $33,691.69
109 $33,691.69 $227.20 $0.00 $190.50 $34,109.39
110 $34,109.39 $227.20 $0.00 $192.86 $34,529.45
111 $34,529.45 $227.20 $0.00 $195.23 $34,951.88
112 $34,951.88 $227.20 $0.00 $197.62 $35,376.70
113 $35,376.70 $227.20 $0.00 $200.03 $35,803.93
114 $35,803.93 $227.20 $0.00 $202.44 $36,233.57
115 $36,233.57 $227.20 $0.00 $204.87 $36,665.64
116 $36,665.64 $227.20 $0.00 $207.31 $37,100.15
117 $37,100.15 $227.20 $0.00 $209.77 $37,537.12
118 $37,537.12 $227.20 $0.00 $212.24 $37,976.56
119 $37,976.56 $227.20 $0.00 $214.72 $38,418.48
120 $38,418.48 $227.20 $0.00 $217.22 $38,862.90
121 $38,862.90 $227.20 $0.00 $219.74 $39,309.84
122 $39,309.84 $227.20 $0.00 $222.26 $39,759.30
123 $39,759.30 $227.20 $0.00 $224.80 $40,211.30
124 $40,211.30 $227.20 $0.00 $227.36 $40,665.86
125 $40,665.86 $227.20 $0.00 $229.93 $41,122.99
126 $41,122.99 $227.20 $0.00 $232.52 $41,582.71
127 $41,582.71 $227.20 $0.00 $235.11 $42,045.02
128 $42,045.02 $227.20 $0.00 $237.73 $42,509.95
129 $42,509.95 $227.20 $0.00 $240.36 $42,977.51
130 $42,977.51 $227.20 $0.00 $243.00 $43,447.71
131 $43,447.71 $227.20 $0.00 $245.66 $43,920.57
132 $43,920.57 $227.20 $0.00 $248.33 $44,396.10
133 $44,396.10 $227.20 $0.00 $251.02 $44,874.32
134 $44,874.32 $227.20 $0.00 $253.73 $45,355.25
135 $45,355.25 $227.20 $0.00 $256.45 $45,838.90
136 $45,838.90 $227.20 $0.00 $259.18 $46,325.28
137 $46,325.28 $227.20 $0.00 $261.93 $46,814.41
138 $46,814.41 $227.20 $0.00 $264.70 $47,306.31
139 $47,306.31 $227.20 $0.00 $267.48 $47,800.99
140 $47,800.99 $227.20 $0.00 $270.27 $48,298.46
141 $48,298.46 $227.20 $0.00 $273.09 $48,798.75
142 $48,798.75 $227.20 $0.00 $275.92 $49,301.87
143 $49,301.87 $227.20 $0.00 $278.76 $49,807.83
144 $49,807.83 $227.20 $0.00 $281.62 $50,316.65
145 $50,316.65 $227.20 $0.00 $284.50 $50,828.35
146 $50,828.35 $227.20 $0.00 $287.39 $51,342.94
147 $51,342.94 $227.20 $0.00 $290.30 $51,860.44
148 $51,860.44 $227.20 $0.00 $293.23 $52,380.87
149 $52,380.87 $227.20 $0.00 $296.17 $52,904.24
150 $52,904.24 $227.20 $0.00 $299.13 $53,430.57
151 $53,430.57 $227.20 $0.00 $302.10 $53,959.87
152 $53,959.87 $227.20 $0.00 $305.10 $54,492.17
153 $54,492.17 $227.20 $0.00 $308.11 $55,027.48
154 $55,027.48 $227.20 $0.00 $311.13 $55,565.81
155 $55,565.81 $227.20 $0.00 $314.18 $56,107.19
156 $56,107.19 $227.20 $0.00 $317.24 $56,651.63
157 $56,651.63 $227.20 $0.00 $320.32 $57,199.15
158 $57,199.15 $227.20 $0.00 $323.41 $57,749.76
159 $57,749.76 $227.20 $0.00 $326.53 $58,303.49
160 $58,303.49 $227.20 $0.00 $329.66 $58,860.35
161 $58,860.35 $227.20 $0.00 $332.80 $59,420.35
162 $59,420.35 $227.20 $0.00 $335.97 $59,983.52
163 $59,983.52 $227.20 $0.00 $339.16 $60,549.88
164 $60,549.88 $227.20 $0.00 $342.36 $61,119.44
165 $61,119.44 $227.20 $0.00 $345.58 $61,692.22
166 $61,692.22 $227.20 $0.00 $348.82 $62,268.24
167 $62,268.24 $227.20 $0.00 $352.07 $62,847.51
168 $62,847.51 $227.20 $0.00 $355.35 $63,430.06
169 $63,430.06 $227.20 $0.00 $358.64 $64,015.90
170 $64,015.90 $227.20 $0.00 $361.96 $64,605.06
171 $64,605.06 $227.20 $0.00 $365.29 $65,197.55
172 $65,197.55 $227.20 $0.00 $368.64 $65,793.39
173 $65,793.39 $227.20 $0.00 $372.01 $66,392.60
174 $66,392.60 $227.20 $0.00 $375.39 $66,995.19
175 $66,995.19 $227.20 $0.00 $378.80 $67,601.19
176 $67,601.19 $227.20 $0.00 $382.23 $68,210.62
177 $68,210.62 $227.20 $0.00 $385.67 $68,823.49
178 $68,823.49 $227.20 $0.00 $389.14 $69,439.83
179 $69,439.83 $227.20 $0.00 $392.62 $70,059.65
180 $70,059.65 $227.20 $0.00 $396.13 $70,682.98
181 $70,682.98 $227.20 $0.00 $399.65 $71,309.83
182 $71,309.83 $227.20 $0.00 $403.20 $71,940.23
183 $71,940.23 $227.20 $0.00 $406.76 $72,574.19
184 $72,574.19 $227.20 $0.00 $410.35 $73,211.74
185 $73,211.74 $227.20 $0.00 $413.95 $73,852.89
186 $73,852.89 $227.20 $0.00 $417.57 $74,497.66
187 $74,497.66 $227.20 $0.00 $421.22 $75,146.08
188 $75,146.08 $227.20 $0.00 $424.89 $75,798.17
189 $75,798.17 $227.20 $0.00 $428.57 $76,453.94
190 $76,453.94 $227.20 $0.00 $432.28 $77,113.42
191 $77,113.42 $227.20 $0.00 $436.01 $77,776.63
192 $77,776.63 $227.20 $0.00 $439.76 $78,443.59
193 $78,443.59 $227.20 $0.00 $443.53 $79,114.32
194 $79,114.32 $227.20 $0.00 $447.32 $79,788.84
195 $79,788.84 $227.20 $0.00 $451.14 $80,467.18
196 $80,467.18 $227.20 $0.00 $454.97 $81,149.35
197 $81,149.35 $227.20 $0.00 $458.83 $81,835.38
198 $81,835.38 $227.20 $0.00 $462.71 $82,525.29
199 $82,525.29 $227.20 $0.00 $466.61 $83,219.10
200 $83,219.10 $227.20 $0.00 $470.53 $83,916.83
201 $83,916.83 $227.20 $0.00 $474.48 $84,618.51
202 $84,618.51 $227.20 $0.00 $478.45 $85,324.16
203 $85,324.16 $227.20 $0.00 $482.44 $86,033.80
204 $86,033.80 $227.20 $0.00 $486.45 $86,747.45
205 $86,747.45 $227.20 $0.00 $490.48 $87,465.13
206 $87,465.13 $227.20 $0.00 $494.54 $88,186.87
207 $88,186.87 $227.20 $0.00 $498.62 $88,912.69
208 $88,912.69 $227.20 $0.00 $502.73 $89,642.62
209 $89,642.62 $227.20 $0.00 $506.85 $90,376.67
210 $90,376.67 $227.20 $0.00 $511.00 $91,114.87
211 $91,114.87 $227.20 $0.00 $515.18 $91,857.25
212 $91,857.25 $227.20 $0.00 $519.37 $92,603.82
213 $92,603.82 $227.20 $0.00 $523.60 $93,354.62
214 $93,354.62 $227.20 $0.00 $527.84 $94,109.66
215 $94,109.66 $227.20 $0.00 $532.11 $94,868.97
216 $94,868.97 $227.20 $0.00 $536.40 $95,632.57
217 $95,632.57 $227.20 $49,874.78 $540.72 $46,525.71
218 $46,525.71 $227.20 $0.00 $263.06 $47,015.97
219 $47,015.97 $227.20 $0.00 $265.84 $47,509.01
220 $47,509.01 $227.20 $0.00 $268.62 $48,004.83
221 $48,004.83 $227.20 $0.00 $271.43 $48,503.46
222 $48,503.46 $227.20 $0.00 $274.25 $49,004.91
223 $49,004.91 $227.20 $0.00 $277.08 $49,509.19
224 $49,509.19 $227.20 $0.00 $279.93 $50,016.32
225 $50,016.32 $227.20 $0.00 $282.80 $50,526.32
226 $50,526.32 $227.20 $0.00 $285.68 $51,039.20
227 $51,039.20 $227.20 $0.00 $288.58 $51,554.98
228 $51,554.98 $227.20 $0.00 $291.50 $52,073.68
229 $52,073.68 $0.00 $52,368.52 $294.43 ($0.41)