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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$78,281
Monthly savings required$620

How much will it cost to send your child to Lincoln College of Technology West Palm Beach in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $313,124.61 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $619.66 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$30,187.00
Years until enrollment18
Annual Tuition Increase5%
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 $619.66 $0.00 $0.00 $619.66
2 $619.66 $619.66 $0.00 $3.50 $1,242.82
3 $1,242.82 $619.66 $0.00 $7.03 $1,869.51
4 $1,869.51 $619.66 $0.00 $10.57 $2,499.74
5 $2,499.74 $619.66 $0.00 $14.13 $3,133.53
6 $3,133.53 $619.66 $0.00 $17.72 $3,770.91
7 $3,770.91 $619.66 $0.00 $21.32 $4,411.89
8 $4,411.89 $619.66 $0.00 $24.95 $5,056.50
9 $5,056.50 $619.66 $0.00 $28.59 $5,704.75
10 $5,704.75 $619.66 $0.00 $32.26 $6,356.67
11 $6,356.67 $619.66 $0.00 $35.94 $7,012.27
12 $7,012.27 $619.66 $0.00 $39.65 $7,671.58
13 $7,671.58 $619.66 $0.00 $43.38 $8,334.62
14 $8,334.62 $619.66 $0.00 $47.13 $9,001.41
15 $9,001.41 $619.66 $0.00 $50.90 $9,671.97
16 $9,671.97 $619.66 $0.00 $54.69 $10,346.32
17 $10,346.32 $619.66 $0.00 $58.50 $11,024.48
18 $11,024.48 $619.66 $0.00 $62.33 $11,706.47
19 $11,706.47 $619.66 $0.00 $66.19 $12,392.32
20 $12,392.32 $619.66 $0.00 $70.07 $13,082.05
21 $13,082.05 $619.66 $0.00 $73.97 $13,775.68
22 $13,775.68 $619.66 $0.00 $77.89 $14,473.23
23 $14,473.23 $619.66 $0.00 $81.83 $15,174.72
24 $15,174.72 $619.66 $0.00 $85.80 $15,880.18
25 $15,880.18 $619.66 $0.00 $89.79 $16,589.63
26 $16,589.63 $619.66 $0.00 $93.80 $17,303.09
27 $17,303.09 $619.66 $0.00 $97.83 $18,020.58
28 $18,020.58 $619.66 $0.00 $101.89 $18,742.13
29 $18,742.13 $619.66 $0.00 $105.97 $19,467.76
30 $19,467.76 $619.66 $0.00 $110.07 $20,197.49
31 $20,197.49 $619.66 $0.00 $114.20 $20,931.35
32 $20,931.35 $619.66 $0.00 $118.35 $21,669.36
33 $21,669.36 $619.66 $0.00 $122.52 $22,411.54
34 $22,411.54 $619.66 $0.00 $126.72 $23,157.92
35 $23,157.92 $619.66 $0.00 $130.94 $23,908.52
36 $23,908.52 $619.66 $0.00 $135.18 $24,663.36
37 $24,663.36 $619.66 $0.00 $139.45 $25,422.47
38 $25,422.47 $619.66 $0.00 $143.74 $26,185.87
39 $26,185.87 $619.66 $0.00 $148.06 $26,953.59
40 $26,953.59 $619.66 $0.00 $152.40 $27,725.65
41 $27,725.65 $619.66 $0.00 $156.76 $28,502.07
42 $28,502.07 $619.66 $0.00 $161.15 $29,282.88
43 $29,282.88 $619.66 $0.00 $165.57 $30,068.11
44 $30,068.11 $619.66 $0.00 $170.01 $30,857.78
45 $30,857.78 $619.66 $0.00 $174.47 $31,651.91
46 $31,651.91 $619.66 $0.00 $178.96 $32,450.53
47 $32,450.53 $619.66 $0.00 $183.48 $33,253.67
48 $33,253.67 $619.66 $0.00 $188.02 $34,061.35
49 $34,061.35 $619.66 $0.00 $192.59 $34,873.60
50 $34,873.60 $619.66 $0.00 $197.18 $35,690.44
51 $35,690.44 $619.66 $0.00 $201.80 $36,511.90
52 $36,511.90 $619.66 $0.00 $206.44 $37,338.00
53 $37,338.00 $619.66 $0.00 $211.11 $38,168.77
54 $38,168.77 $619.66 $0.00 $215.81 $39,004.24
55 $39,004.24 $619.66 $0.00 $220.54 $39,844.44
56 $39,844.44 $619.66 $0.00 $225.29 $40,689.39
57 $40,689.39 $619.66 $0.00 $230.06 $41,539.11
58 $41,539.11 $619.66 $0.00 $234.87 $42,393.64
59 $42,393.64 $619.66 $0.00 $239.70 $43,253.00
60 $43,253.00 $619.66 $0.00 $244.56 $44,117.22
61 $44,117.22 $619.66 $0.00 $249.45 $44,986.33
62 $44,986.33 $619.66 $0.00 $254.36 $45,860.35
63 $45,860.35 $619.66 $0.00 $259.30 $46,739.31
64 $46,739.31 $619.66 $0.00 $264.27 $47,623.24
65 $47,623.24 $619.66 $0.00 $269.27 $48,512.17
66 $48,512.17 $619.66 $0.00 $274.29 $49,406.12
67 $49,406.12 $619.66 $0.00 $279.35 $50,305.13
68 $50,305.13 $619.66 $0.00 $284.43 $51,209.22
69 $51,209.22 $619.66 $0.00 $289.54 $52,118.42
70 $52,118.42 $619.66 $0.00 $294.69 $53,032.77
71 $53,032.77 $619.66 $0.00 $299.85 $53,952.28
72 $53,952.28 $619.66 $0.00 $305.05 $54,876.99
73 $54,876.99 $619.66 $0.00 $310.28 $55,806.93
74 $55,806.93 $619.66 $0.00 $315.54 $56,742.13
75 $56,742.13 $619.66 $0.00 $320.83 $57,682.62
76 $57,682.62 $619.66 $0.00 $326.15 $58,628.43
77 $58,628.43 $619.66 $0.00 $331.49 $59,579.58
78 $59,579.58 $619.66 $0.00 $336.87 $60,536.11
79 $60,536.11 $619.66 $0.00 $342.28 $61,498.05
80 $61,498.05 $619.66 $0.00 $347.72 $62,465.43
81 $62,465.43 $619.66 $0.00 $353.19 $63,438.28
82 $63,438.28 $619.66 $0.00 $358.69 $64,416.63
83 $64,416.63 $619.66 $0.00 $364.22 $65,400.51
84 $65,400.51 $619.66 $0.00 $369.78 $66,389.95
85 $66,389.95 $619.66 $0.00 $375.38 $67,384.99
86 $67,384.99 $619.66 $0.00 $381.00 $68,385.65
87 $68,385.65 $619.66 $0.00 $386.66 $69,391.97
88 $69,391.97 $619.66 $0.00 $392.35 $70,403.98
89 $70,403.98 $619.66 $0.00 $398.07 $71,421.71
90 $71,421.71 $619.66 $0.00 $403.83 $72,445.20
91 $72,445.20 $619.66 $0.00 $409.62 $73,474.48
92 $73,474.48 $619.66 $0.00 $415.44 $74,509.58
93 $74,509.58 $619.66 $0.00 $421.29 $75,550.53
94 $75,550.53 $619.66 $0.00 $427.17 $76,597.36
95 $76,597.36 $619.66 $0.00 $433.09 $77,650.11
96 $77,650.11 $619.66 $0.00 $439.05 $78,708.82
97 $78,708.82 $619.66 $0.00 $445.03 $79,773.51
98 $79,773.51 $619.66 $0.00 $451.05 $80,844.22
99 $80,844.22 $619.66 $0.00 $457.10 $81,920.98
100 $81,920.98 $619.66 $0.00 $463.19 $83,003.83
101 $83,003.83 $619.66 $0.00 $469.32 $84,092.81
102 $84,092.81 $619.66 $0.00 $475.47 $85,187.94
103 $85,187.94 $619.66 $0.00 $481.66 $86,289.26
104 $86,289.26 $619.66 $0.00 $487.89 $87,396.81
105 $87,396.81 $619.66 $0.00 $494.15 $88,510.62
106 $88,510.62 $619.66 $0.00 $500.45 $89,630.73
107 $89,630.73 $619.66 $0.00 $506.79 $90,757.18
108 $90,757.18 $619.66 $0.00 $513.15 $91,889.99
109 $91,889.99 $619.66 $0.00 $519.56 $93,029.21
110 $93,029.21 $619.66 $0.00 $526.00 $94,174.87
111 $94,174.87 $619.66 $0.00 $532.48 $95,327.01
112 $95,327.01 $619.66 $0.00 $538.99 $96,485.66
113 $96,485.66 $619.66 $0.00 $545.54 $97,650.86
114 $97,650.86 $619.66 $0.00 $552.13 $98,822.65
115 $98,822.65 $619.66 $0.00 $558.76 $100,001.07
116 $100,001.07 $619.66 $0.00 $565.42 $101,186.15
117 $101,186.15 $619.66 $0.00 $572.12 $102,377.93
118 $102,377.93 $619.66 $0.00 $578.86 $103,576.45
119 $103,576.45 $619.66 $0.00 $585.64 $104,781.75
120 $104,781.75 $619.66 $0.00 $592.45 $105,993.86
121 $105,993.86 $619.66 $0.00 $599.30 $107,212.82
122 $107,212.82 $619.66 $0.00 $606.20 $108,438.68
123 $108,438.68 $619.66 $0.00 $613.13 $109,671.47
124 $109,671.47 $619.66 $0.00 $620.10 $110,911.23
125 $110,911.23 $619.66 $0.00 $627.11 $112,158.00
126 $112,158.00 $619.66 $0.00 $634.16 $113,411.82
127 $113,411.82 $619.66 $0.00 $641.25 $114,672.73
128 $114,672.73 $619.66 $0.00 $648.38 $115,940.77
129 $115,940.77 $619.66 $0.00 $655.55 $117,215.98
130 $117,215.98 $619.66 $0.00 $662.76 $118,498.40
131 $118,498.40 $619.66 $0.00 $670.01 $119,788.07
132 $119,788.07 $619.66 $0.00 $677.30 $121,085.03
133 $121,085.03 $619.66 $0.00 $684.63 $122,389.32
134 $122,389.32 $619.66 $0.00 $692.01 $123,700.99
135 $123,700.99 $619.66 $0.00 $699.42 $125,020.07
136 $125,020.07 $619.66 $0.00 $706.88 $126,346.61
137 $126,346.61 $619.66 $0.00 $714.38 $127,680.65
138 $127,680.65 $619.66 $0.00 $721.92 $129,022.23
139 $129,022.23 $619.66 $0.00 $729.51 $130,371.40
140 $130,371.40 $619.66 $0.00 $737.14 $131,728.20
141 $131,728.20 $619.66 $0.00 $744.81 $133,092.67
142 $133,092.67 $619.66 $0.00 $752.53 $134,464.86
143 $134,464.86 $619.66 $0.00 $760.28 $135,844.80
144 $135,844.80 $619.66 $0.00 $768.09 $137,232.55
145 $137,232.55 $619.66 $0.00 $775.93 $138,628.14
146 $138,628.14 $619.66 $0.00 $783.82 $140,031.62
147 $140,031.62 $619.66 $0.00 $791.76 $141,443.04
148 $141,443.04 $619.66 $0.00 $799.74 $142,862.44
149 $142,862.44 $619.66 $0.00 $807.77 $144,289.87
150 $144,289.87 $619.66 $0.00 $815.84 $145,725.37
151 $145,725.37 $619.66 $0.00 $823.95 $147,168.98
152 $147,168.98 $619.66 $0.00 $832.11 $148,620.75
153 $148,620.75 $619.66 $0.00 $840.32 $150,080.73
154 $150,080.73 $619.66 $0.00 $848.58 $151,548.97
155 $151,548.97 $619.66 $0.00 $856.88 $153,025.51
156 $153,025.51 $619.66 $0.00 $865.23 $154,510.40
157 $154,510.40 $619.66 $0.00 $873.62 $156,003.68
158 $156,003.68 $619.66 $0.00 $882.07 $157,505.41
159 $157,505.41 $619.66 $0.00 $890.56 $159,015.63
160 $159,015.63 $619.66 $0.00 $899.10 $160,534.39
161 $160,534.39 $619.66 $0.00 $907.68 $162,061.73
162 $162,061.73 $619.66 $0.00 $916.32 $163,597.71
163 $163,597.71 $619.66 $0.00 $925.01 $165,142.38
164 $165,142.38 $619.66 $0.00 $933.74 $166,695.78
165 $166,695.78 $619.66 $0.00 $942.52 $168,257.96
166 $168,257.96 $619.66 $0.00 $951.35 $169,828.97
167 $169,828.97 $619.66 $0.00 $960.24 $171,408.87
168 $171,408.87 $619.66 $0.00 $969.17 $172,997.70
169 $172,997.70 $619.66 $0.00 $978.15 $174,595.51
170 $174,595.51 $619.66 $0.00 $987.19 $176,202.36
171 $176,202.36 $619.66 $0.00 $996.27 $177,818.29
172 $177,818.29 $619.66 $0.00 $1,005.41 $179,443.36
173 $179,443.36 $619.66 $0.00 $1,014.60 $181,077.62
174 $181,077.62 $619.66 $0.00 $1,023.84 $182,721.12
175 $182,721.12 $619.66 $0.00 $1,033.13 $184,373.91
176 $184,373.91 $619.66 $0.00 $1,042.48 $186,036.05
177 $186,036.05 $619.66 $0.00 $1,051.87 $187,707.58
178 $187,707.58 $619.66 $0.00 $1,061.33 $189,388.57
179 $189,388.57 $619.66 $0.00 $1,070.83 $191,079.06
180 $191,079.06 $619.66 $0.00 $1,080.39 $192,779.11
181 $192,779.11 $619.66 $0.00 $1,090.00 $194,488.77
182 $194,488.77 $619.66 $0.00 $1,099.67 $196,208.10
183 $196,208.10 $619.66 $0.00 $1,109.39 $197,937.15
184 $197,937.15 $619.66 $0.00 $1,119.17 $199,675.98
185 $199,675.98 $619.66 $0.00 $1,129.00 $201,424.64
186 $201,424.64 $619.66 $0.00 $1,138.88 $203,183.18
187 $203,183.18 $619.66 $0.00 $1,148.83 $204,951.67
188 $204,951.67 $619.66 $0.00 $1,158.83 $206,730.16
189 $206,730.16 $619.66 $0.00 $1,168.88 $208,518.70
190 $208,518.70 $619.66 $0.00 $1,179.00 $210,317.36
191 $210,317.36 $619.66 $0.00 $1,189.16 $212,126.18
192 $212,126.18 $619.66 $0.00 $1,199.39 $213,945.23
193 $213,945.23 $619.66 $0.00 $1,209.68 $215,774.57
194 $215,774.57 $619.66 $0.00 $1,220.02 $217,614.25
195 $217,614.25 $619.66 $0.00 $1,230.42 $219,464.33
196 $219,464.33 $619.66 $0.00 $1,240.88 $221,324.87
197 $221,324.87 $619.66 $0.00 $1,251.40 $223,195.93
198 $223,195.93 $619.66 $0.00 $1,261.98 $225,077.57
199 $225,077.57 $619.66 $0.00 $1,272.62 $226,969.85
200 $226,969.85 $619.66 $0.00 $1,283.32 $228,872.83
201 $228,872.83 $619.66 $0.00 $1,294.08 $230,786.57
202 $230,786.57 $619.66 $0.00 $1,304.90 $232,711.13
203 $232,711.13 $619.66 $0.00 $1,315.78 $234,646.57
204 $234,646.57 $619.66 $0.00 $1,326.73 $236,592.96
205 $236,592.96 $619.66 $0.00 $1,337.73 $238,550.35
206 $238,550.35 $619.66 $0.00 $1,348.80 $240,518.81
207 $240,518.81 $619.66 $0.00 $1,359.93 $242,498.40
208 $242,498.40 $619.66 $0.00 $1,371.12 $244,489.18
209 $244,489.18 $619.66 $0.00 $1,382.38 $246,491.22
210 $246,491.22 $619.66 $0.00 $1,393.70 $248,504.58
211 $248,504.58 $619.66 $0.00 $1,405.08 $250,529.32
212 $250,529.32 $619.66 $0.00 $1,416.53 $252,565.51
213 $252,565.51 $619.66 $0.00 $1,428.04 $254,613.21
214 $254,613.21 $619.66 $0.00 $1,439.62 $256,672.49
215 $256,672.49 $619.66 $0.00 $1,451.26 $258,743.41
216 $258,743.41 $619.66 $0.00 $1,462.97 $260,826.04
217 $260,826.04 $619.66 $72,648.61 $1,474.75 $190,271.84
218 $190,271.84 $619.66 $0.00 $1,075.82 $191,967.32
219 $191,967.32 $619.66 $0.00 $1,085.41 $193,672.39
220 $193,672.39 $619.66 $0.00 $1,095.05 $195,387.10
221 $195,387.10 $619.66 $0.00 $1,104.75 $197,111.51
222 $197,111.51 $619.66 $0.00 $1,114.50 $198,845.67
223 $198,845.67 $619.66 $0.00 $1,124.30 $200,589.63
224 $200,589.63 $619.66 $0.00 $1,134.16 $202,343.45
225 $202,343.45 $619.66 $0.00 $1,144.08 $204,107.19
226 $204,107.19 $619.66 $0.00 $1,154.05 $205,880.90
227 $205,880.90 $619.66 $0.00 $1,164.08 $207,664.64
228 $207,664.64 $619.66 $0.00 $1,174.17 $209,458.47
229 $209,458.47 $619.66 $76,281.05 $1,184.31 $134,981.39
230 $134,981.39 $619.66 $0.00 $763.20 $136,364.25
231 $136,364.25 $619.66 $0.00 $771.02 $137,754.93
232 $137,754.93 $619.66 $0.00 $778.89 $139,153.48
233 $139,153.48 $619.66 $0.00 $786.79 $140,559.93
234 $140,559.93 $619.66 $0.00 $794.75 $141,974.34
235 $141,974.34 $619.66 $0.00 $802.74 $143,396.74
236 $143,396.74 $619.66 $0.00 $810.79 $144,827.19
237 $144,827.19 $619.66 $0.00 $818.87 $146,265.72
238 $146,265.72 $619.66 $0.00 $827.01 $147,712.39
239 $147,712.39 $619.66 $0.00 $835.19 $149,167.24
240 $149,167.24 $619.66 $0.00 $843.41 $150,630.31
241 $150,630.31 $619.66 $80,095.10 $851.69 $72,006.56
242 $72,006.56 $619.66 $0.00 $407.14 $73,033.36
243 $73,033.36 $619.66 $0.00 $412.94 $74,065.96
244 $74,065.96 $619.66 $0.00 $418.78 $75,104.40
245 $75,104.40 $619.66 $0.00 $424.65 $76,148.71
246 $76,148.71 $619.66 $0.00 $430.56 $77,198.93
247 $77,198.93 $619.66 $0.00 $436.49 $78,255.08
248 $78,255.08 $619.66 $0.00 $442.47 $79,317.21
249 $79,317.21 $619.66 $0.00 $448.47 $80,385.34
250 $80,385.34 $619.66 $0.00 $454.51 $81,459.51
251 $81,459.51 $619.66 $0.00 $460.58 $82,539.75
252 $82,539.75 $619.66 $0.00 $466.69 $83,626.10
253 $83,626.10 $0.00 $84,099.85 $472.83 ($0.92)