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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$45,124
Monthly savings required$357

How much will it cost to send your child to Polk State College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $180,497.61 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $357.21 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$17,401.00
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 $357.21 $0.00 $0.00 $357.21
2 $357.21 $357.21 $0.00 $2.02 $716.44
3 $716.44 $357.21 $0.00 $4.05 $1,077.70
4 $1,077.70 $357.21 $0.00 $6.09 $1,441.00
5 $1,441.00 $357.21 $0.00 $8.15 $1,806.36
6 $1,806.36 $357.21 $0.00 $10.21 $2,173.78
7 $2,173.78 $357.21 $0.00 $12.29 $2,543.28
8 $2,543.28 $357.21 $0.00 $14.38 $2,914.87
9 $2,914.87 $357.21 $0.00 $16.48 $3,288.56
10 $3,288.56 $357.21 $0.00 $18.59 $3,664.36
11 $3,664.36 $357.21 $0.00 $20.72 $4,042.29
12 $4,042.29 $357.21 $0.00 $22.86 $4,422.36
13 $4,422.36 $357.21 $0.00 $25.00 $4,804.57
14 $4,804.57 $357.21 $0.00 $27.17 $5,188.95
15 $5,188.95 $357.21 $0.00 $29.34 $5,575.50
16 $5,575.50 $357.21 $0.00 $31.52 $5,964.23
17 $5,964.23 $357.21 $0.00 $33.72 $6,355.16
18 $6,355.16 $357.21 $0.00 $35.93 $6,748.30
19 $6,748.30 $357.21 $0.00 $38.16 $7,143.67
20 $7,143.67 $357.21 $0.00 $40.39 $7,541.27
21 $7,541.27 $357.21 $0.00 $42.64 $7,941.12
22 $7,941.12 $357.21 $0.00 $44.90 $8,343.23
23 $8,343.23 $357.21 $0.00 $47.17 $8,747.61
24 $8,747.61 $357.21 $0.00 $49.46 $9,154.28
25 $9,154.28 $357.21 $0.00 $51.76 $9,563.25
26 $9,563.25 $357.21 $0.00 $54.07 $9,974.53
27 $9,974.53 $357.21 $0.00 $56.40 $10,388.14
28 $10,388.14 $357.21 $0.00 $58.74 $10,804.09
29 $10,804.09 $357.21 $0.00 $61.09 $11,222.39
30 $11,222.39 $357.21 $0.00 $63.45 $11,643.05
31 $11,643.05 $357.21 $0.00 $65.83 $12,066.09
32 $12,066.09 $357.21 $0.00 $68.22 $12,491.52
33 $12,491.52 $357.21 $0.00 $70.63 $12,919.36
34 $12,919.36 $357.21 $0.00 $73.05 $13,349.62
35 $13,349.62 $357.21 $0.00 $75.48 $13,782.31
36 $13,782.31 $357.21 $0.00 $77.93 $14,217.45
37 $14,217.45 $357.21 $0.00 $80.39 $14,655.05
38 $14,655.05 $357.21 $0.00 $82.86 $15,095.12
39 $15,095.12 $357.21 $0.00 $85.35 $15,537.68
40 $15,537.68 $357.21 $0.00 $87.85 $15,982.74
41 $15,982.74 $357.21 $0.00 $90.37 $16,430.32
42 $16,430.32 $357.21 $0.00 $92.90 $16,880.43
43 $16,880.43 $357.21 $0.00 $95.44 $17,333.08
44 $17,333.08 $357.21 $0.00 $98.00 $17,788.29
45 $17,788.29 $357.21 $0.00 $100.58 $18,246.08
46 $18,246.08 $357.21 $0.00 $103.17 $18,706.46
47 $18,706.46 $357.21 $0.00 $105.77 $19,169.44
48 $19,169.44 $357.21 $0.00 $108.39 $19,635.04
49 $19,635.04 $357.21 $0.00 $111.02 $20,103.27
50 $20,103.27 $357.21 $0.00 $113.67 $20,574.15
51 $20,574.15 $357.21 $0.00 $116.33 $21,047.69
52 $21,047.69 $357.21 $0.00 $119.01 $21,523.91
53 $21,523.91 $357.21 $0.00 $121.70 $22,002.82
54 $22,002.82 $357.21 $0.00 $124.41 $22,484.44
55 $22,484.44 $357.21 $0.00 $127.13 $22,968.78
56 $22,968.78 $357.21 $0.00 $129.87 $23,455.86
57 $23,455.86 $357.21 $0.00 $132.62 $23,945.69
58 $23,945.69 $357.21 $0.00 $135.39 $24,438.29
59 $24,438.29 $357.21 $0.00 $138.18 $24,933.68
60 $24,933.68 $357.21 $0.00 $140.98 $25,431.87
61 $25,431.87 $357.21 $0.00 $143.80 $25,932.88
62 $25,932.88 $357.21 $0.00 $146.63 $26,436.72
63 $26,436.72 $357.21 $0.00 $149.48 $26,943.41
64 $26,943.41 $357.21 $0.00 $152.34 $27,452.96
65 $27,452.96 $357.21 $0.00 $155.22 $27,965.39
66 $27,965.39 $357.21 $0.00 $158.12 $28,480.72
67 $28,480.72 $357.21 $0.00 $161.03 $28,998.96
68 $28,998.96 $357.21 $0.00 $163.96 $29,520.13
69 $29,520.13 $357.21 $0.00 $166.91 $30,044.25
70 $30,044.25 $357.21 $0.00 $169.87 $30,571.33
71 $30,571.33 $357.21 $0.00 $172.85 $31,101.39
72 $31,101.39 $357.21 $0.00 $175.85 $31,634.45
73 $31,634.45 $357.21 $0.00 $178.87 $32,170.53
74 $32,170.53 $357.21 $0.00 $181.90 $32,709.64
75 $32,709.64 $357.21 $0.00 $184.95 $33,251.80
76 $33,251.80 $357.21 $0.00 $188.01 $33,797.02
77 $33,797.02 $357.21 $0.00 $191.09 $34,345.32
78 $34,345.32 $357.21 $0.00 $194.19 $34,896.72
79 $34,896.72 $357.21 $0.00 $197.31 $35,451.24
80 $35,451.24 $357.21 $0.00 $200.45 $36,008.90
81 $36,008.90 $357.21 $0.00 $203.60 $36,569.71
82 $36,569.71 $357.21 $0.00 $206.77 $37,133.69
83 $37,133.69 $357.21 $0.00 $209.96 $37,700.86
84 $37,700.86 $357.21 $0.00 $213.17 $38,271.24
85 $38,271.24 $357.21 $0.00 $216.39 $38,844.84
86 $38,844.84 $357.21 $0.00 $219.63 $39,421.68
87 $39,421.68 $357.21 $0.00 $222.90 $40,001.79
88 $40,001.79 $357.21 $0.00 $226.18 $40,585.18
89 $40,585.18 $357.21 $0.00 $229.47 $41,171.86
90 $41,171.86 $357.21 $0.00 $232.79 $41,761.86
91 $41,761.86 $357.21 $0.00 $236.13 $42,355.20
92 $42,355.20 $357.21 $0.00 $239.48 $42,951.89
93 $42,951.89 $357.21 $0.00 $242.86 $43,551.96
94 $43,551.96 $357.21 $0.00 $246.25 $44,155.42
95 $44,155.42 $357.21 $0.00 $249.66 $44,762.29
96 $44,762.29 $357.21 $0.00 $253.09 $45,372.59
97 $45,372.59 $357.21 $0.00 $256.54 $45,986.34
98 $45,986.34 $357.21 $0.00 $260.01 $46,603.56
99 $46,603.56 $357.21 $0.00 $263.50 $47,224.27
100 $47,224.27 $357.21 $0.00 $267.01 $47,848.49
101 $47,848.49 $357.21 $0.00 $270.54 $48,476.24
102 $48,476.24 $357.21 $0.00 $274.09 $49,107.54
103 $49,107.54 $357.21 $0.00 $277.66 $49,742.41
104 $49,742.41 $357.21 $0.00 $281.25 $50,380.87
105 $50,380.87 $357.21 $0.00 $284.86 $51,022.94
106 $51,022.94 $357.21 $0.00 $288.49 $51,668.64
107 $51,668.64 $357.21 $0.00 $292.14 $52,317.99
108 $52,317.99 $357.21 $0.00 $295.81 $52,971.01
109 $52,971.01 $357.21 $0.00 $299.51 $53,627.73
110 $53,627.73 $357.21 $0.00 $303.22 $54,288.16
111 $54,288.16 $357.21 $0.00 $306.95 $54,952.32
112 $54,952.32 $357.21 $0.00 $310.71 $55,620.24
113 $55,620.24 $357.21 $0.00 $314.48 $56,291.93
114 $56,291.93 $357.21 $0.00 $318.28 $56,967.42
115 $56,967.42 $357.21 $0.00 $322.10 $57,646.73
116 $57,646.73 $357.21 $0.00 $325.94 $58,329.88
117 $58,329.88 $357.21 $0.00 $329.81 $59,016.90
118 $59,016.90 $357.21 $0.00 $333.69 $59,707.80
119 $59,707.80 $357.21 $0.00 $337.60 $60,402.61
120 $60,402.61 $357.21 $0.00 $341.53 $61,101.35
121 $61,101.35 $357.21 $0.00 $345.48 $61,804.04
122 $61,804.04 $357.21 $0.00 $349.45 $62,510.70
123 $62,510.70 $357.21 $0.00 $353.44 $63,221.35
124 $63,221.35 $357.21 $0.00 $357.46 $63,936.02
125 $63,936.02 $357.21 $0.00 $361.50 $64,654.73
126 $64,654.73 $357.21 $0.00 $365.57 $65,377.51
127 $65,377.51 $357.21 $0.00 $369.65 $66,104.37
128 $66,104.37 $357.21 $0.00 $373.76 $66,835.34
129 $66,835.34 $357.21 $0.00 $377.90 $67,570.45
130 $67,570.45 $357.21 $0.00 $382.05 $68,309.71
131 $68,309.71 $357.21 $0.00 $386.23 $69,053.15
132 $69,053.15 $357.21 $0.00 $390.44 $69,800.80
133 $69,800.80 $357.21 $0.00 $394.66 $70,552.67
134 $70,552.67 $357.21 $0.00 $398.92 $71,308.80
135 $71,308.80 $357.21 $0.00 $403.19 $72,069.20
136 $72,069.20 $357.21 $0.00 $407.49 $72,833.90
137 $72,833.90 $357.21 $0.00 $411.81 $73,602.92
138 $73,602.92 $357.21 $0.00 $416.16 $74,376.29
139 $74,376.29 $357.21 $0.00 $420.53 $75,154.03
140 $75,154.03 $357.21 $0.00 $424.93 $75,936.17
141 $75,936.17 $357.21 $0.00 $429.35 $76,722.73
142 $76,722.73 $357.21 $0.00 $433.80 $77,513.74
143 $77,513.74 $357.21 $0.00 $438.27 $78,309.22
144 $78,309.22 $357.21 $0.00 $442.77 $79,109.20
145 $79,109.20 $357.21 $0.00 $447.29 $79,913.70
146 $79,913.70 $357.21 $0.00 $451.84 $80,722.75
147 $80,722.75 $357.21 $0.00 $456.42 $81,536.38
148 $81,536.38 $357.21 $0.00 $461.02 $82,354.61
149 $82,354.61 $357.21 $0.00 $465.64 $83,177.46
150 $83,177.46 $357.21 $0.00 $470.30 $84,004.97
151 $84,004.97 $357.21 $0.00 $474.98 $84,837.16
152 $84,837.16 $357.21 $0.00 $479.68 $85,674.05
153 $85,674.05 $357.21 $0.00 $484.41 $86,515.67
154 $86,515.67 $357.21 $0.00 $489.17 $87,362.05
155 $87,362.05 $357.21 $0.00 $493.96 $88,213.22
156 $88,213.22 $357.21 $0.00 $498.77 $89,069.20
157 $89,069.20 $357.21 $0.00 $503.61 $89,930.02
158 $89,930.02 $357.21 $0.00 $508.48 $90,795.71
159 $90,795.71 $357.21 $0.00 $513.37 $91,666.29
160 $91,666.29 $357.21 $0.00 $518.29 $92,541.79
161 $92,541.79 $357.21 $0.00 $523.24 $93,422.24
162 $93,422.24 $357.21 $0.00 $528.22 $94,307.67
163 $94,307.67 $357.21 $0.00 $533.23 $95,198.11
164 $95,198.11 $357.21 $0.00 $538.26 $96,093.58
165 $96,093.58 $357.21 $0.00 $543.33 $96,994.12
166 $96,994.12 $357.21 $0.00 $548.42 $97,899.75
167 $97,899.75 $357.21 $0.00 $553.54 $98,810.50
168 $98,810.50 $357.21 $0.00 $558.69 $99,726.40
169 $99,726.40 $357.21 $0.00 $563.87 $100,647.48
170 $100,647.48 $357.21 $0.00 $569.08 $101,573.77
171 $101,573.77 $357.21 $0.00 $574.31 $102,505.29
172 $102,505.29 $357.21 $0.00 $579.58 $103,442.08
173 $103,442.08 $357.21 $0.00 $584.88 $104,384.17
174 $104,384.17 $357.21 $0.00 $590.20 $105,331.58
175 $105,331.58 $357.21 $0.00 $595.56 $106,284.35
176 $106,284.35 $357.21 $0.00 $600.95 $107,242.51
177 $107,242.51 $357.21 $0.00 $606.36 $108,206.08
178 $108,206.08 $357.21 $0.00 $611.81 $109,175.10
179 $109,175.10 $357.21 $0.00 $617.29 $110,149.60
180 $110,149.60 $357.21 $0.00 $622.80 $111,129.61
181 $111,129.61 $357.21 $0.00 $628.34 $112,115.16
182 $112,115.16 $357.21 $0.00 $633.92 $113,106.29
183 $113,106.29 $357.21 $0.00 $639.52 $114,103.02
184 $114,103.02 $357.21 $0.00 $645.16 $115,105.39
185 $115,105.39 $357.21 $0.00 $650.82 $116,113.42
186 $116,113.42 $357.21 $0.00 $656.52 $117,127.15
187 $117,127.15 $357.21 $0.00 $662.25 $118,146.61
188 $118,146.61 $357.21 $0.00 $668.02 $119,171.84
189 $119,171.84 $357.21 $0.00 $673.81 $120,202.86
190 $120,202.86 $357.21 $0.00 $679.64 $121,239.71
191 $121,239.71 $357.21 $0.00 $685.51 $122,282.43
192 $122,282.43 $357.21 $0.00 $691.40 $123,331.04
193 $123,331.04 $357.21 $0.00 $697.33 $124,385.58
194 $124,385.58 $357.21 $0.00 $703.29 $125,446.08
195 $125,446.08 $357.21 $0.00 $709.29 $126,512.58
196 $126,512.58 $357.21 $0.00 $715.32 $127,585.11
197 $127,585.11 $357.21 $0.00 $721.38 $128,663.70
198 $128,663.70 $357.21 $0.00 $727.48 $129,748.39
199 $129,748.39 $357.21 $0.00 $733.62 $130,839.22
200 $130,839.22 $357.21 $0.00 $739.78 $131,936.21
201 $131,936.21 $357.21 $0.00 $745.99 $133,039.41
202 $133,039.41 $357.21 $0.00 $752.22 $134,148.84
203 $134,148.84 $357.21 $0.00 $758.50 $135,264.55
204 $135,264.55 $357.21 $0.00 $764.81 $136,386.57
205 $136,386.57 $357.21 $0.00 $771.15 $137,514.93
206 $137,514.93 $357.21 $0.00 $777.53 $138,649.67
207 $138,649.67 $357.21 $0.00 $783.95 $139,790.83
208 $139,790.83 $357.21 $0.00 $790.40 $140,938.44
209 $140,938.44 $357.21 $0.00 $796.89 $142,092.54
210 $142,092.54 $357.21 $0.00 $803.41 $143,253.16
211 $143,253.16 $357.21 $0.00 $809.97 $144,420.34
212 $144,420.34 $357.21 $0.00 $816.57 $145,594.12
213 $145,594.12 $357.21 $0.00 $823.21 $146,774.54
214 $146,774.54 $357.21 $0.00 $829.88 $147,961.63
215 $147,961.63 $357.21 $0.00 $836.60 $149,155.44
216 $149,155.44 $357.21 $0.00 $843.35 $150,356.00
217 $150,356.00 $357.21 $41,877.58 $850.13 $109,685.76
218 $109,685.76 $357.21 $0.00 $620.18 $110,663.15
219 $110,663.15 $357.21 $0.00 $625.71 $111,646.07
220 $111,646.07 $357.21 $0.00 $631.26 $112,634.54
221 $112,634.54 $357.21 $0.00 $636.85 $113,628.60
222 $113,628.60 $357.21 $0.00 $642.47 $114,628.28
223 $114,628.28 $357.21 $0.00 $648.12 $115,633.61
224 $115,633.61 $357.21 $0.00 $653.81 $116,644.63
225 $116,644.63 $357.21 $0.00 $659.53 $117,661.37
226 $117,661.37 $357.21 $0.00 $665.27 $118,683.85
227 $118,683.85 $357.21 $0.00 $671.06 $119,712.12
228 $119,712.12 $357.21 $0.00 $676.87 $120,746.20
229 $120,746.20 $357.21 $43,971.46 $682.72 $77,814.67
230 $77,814.67 $357.21 $0.00 $439.98 $78,611.86
231 $78,611.86 $357.21 $0.00 $444.48 $79,413.55
232 $79,413.55 $357.21 $0.00 $449.02 $80,219.78
233 $80,219.78 $357.21 $0.00 $453.57 $81,030.56
234 $81,030.56 $357.21 $0.00 $458.16 $81,845.93
235 $81,845.93 $357.21 $0.00 $462.77 $82,665.91
236 $82,665.91 $357.21 $0.00 $467.41 $83,490.53
237 $83,490.53 $357.21 $0.00 $472.07 $84,319.81
238 $84,319.81 $357.21 $0.00 $476.76 $85,153.78
239 $85,153.78 $357.21 $0.00 $481.47 $85,992.46
240 $85,992.46 $357.21 $0.00 $486.21 $86,835.88
241 $86,835.88 $357.21 $46,170.03 $490.98 $41,514.04
242 $41,514.04 $357.21 $0.00 $234.73 $42,105.98
243 $42,105.98 $357.21 $0.00 $238.07 $42,701.26
244 $42,701.26 $357.21 $0.00 $241.44 $43,299.91
245 $43,299.91 $357.21 $0.00 $244.82 $43,901.94
246 $43,901.94 $357.21 $0.00 $248.23 $44,507.38
247 $44,507.38 $357.21 $0.00 $251.65 $45,116.24
248 $45,116.24 $357.21 $0.00 $255.09 $45,728.54
249 $45,728.54 $357.21 $0.00 $258.56 $46,344.31
250 $46,344.31 $357.21 $0.00 $262.04 $46,963.56
251 $46,963.56 $357.21 $0.00 $265.54 $47,586.31
252 $47,586.31 $357.21 $0.00 $269.06 $48,212.58
253 $48,212.58 $0.00 $48,478.54 $272.60 $6.64