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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$30,519
Monthly savings required$242

How much will it cost to send your child to Gainesville State College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $122,077.83 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $241.58 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$11,769.00
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 $241.58 $0.00 $0.00 $241.58
2 $241.58 $241.58 $0.00 $1.37 $484.53
3 $484.53 $241.58 $0.00 $2.74 $728.85
4 $728.85 $241.58 $0.00 $4.12 $974.55
5 $974.55 $241.58 $0.00 $5.51 $1,221.64
6 $1,221.64 $241.58 $0.00 $6.91 $1,470.13
7 $1,470.13 $241.58 $0.00 $8.31 $1,720.02
8 $1,720.02 $241.58 $0.00 $9.73 $1,971.33
9 $1,971.33 $241.58 $0.00 $11.15 $2,224.06
10 $2,224.06 $241.58 $0.00 $12.58 $2,478.22
11 $2,478.22 $241.58 $0.00 $14.01 $2,733.81
12 $2,733.81 $241.58 $0.00 $15.46 $2,990.85
13 $2,990.85 $241.58 $0.00 $16.91 $3,249.34
14 $3,249.34 $241.58 $0.00 $18.37 $3,509.29
15 $3,509.29 $241.58 $0.00 $19.84 $3,770.71
16 $3,770.71 $241.58 $0.00 $21.32 $4,033.61
17 $4,033.61 $241.58 $0.00 $22.81 $4,298.00
18 $4,298.00 $241.58 $0.00 $24.30 $4,563.88
19 $4,563.88 $241.58 $0.00 $25.80 $4,831.26
20 $4,831.26 $241.58 $0.00 $27.32 $5,100.16
21 $5,100.16 $241.58 $0.00 $28.84 $5,370.58
22 $5,370.58 $241.58 $0.00 $30.37 $5,642.53
23 $5,642.53 $241.58 $0.00 $31.90 $5,916.01
24 $5,916.01 $241.58 $0.00 $33.45 $6,191.04
25 $6,191.04 $241.58 $0.00 $35.01 $6,467.63
26 $6,467.63 $241.58 $0.00 $36.57 $6,745.78
27 $6,745.78 $241.58 $0.00 $38.14 $7,025.50
28 $7,025.50 $241.58 $0.00 $39.72 $7,306.80
29 $7,306.80 $241.58 $0.00 $41.31 $7,589.69
30 $7,589.69 $241.58 $0.00 $42.91 $7,874.18
31 $7,874.18 $241.58 $0.00 $44.52 $8,160.28
32 $8,160.28 $241.58 $0.00 $46.14 $8,448.00
33 $8,448.00 $241.58 $0.00 $47.77 $8,737.35
34 $8,737.35 $241.58 $0.00 $49.40 $9,028.33
35 $9,028.33 $241.58 $0.00 $51.05 $9,320.96
36 $9,320.96 $241.58 $0.00 $52.70 $9,615.24
37 $9,615.24 $241.58 $0.00 $54.37 $9,911.19
38 $9,911.19 $241.58 $0.00 $56.04 $10,208.81
39 $10,208.81 $241.58 $0.00 $57.72 $10,508.11
40 $10,508.11 $241.58 $0.00 $59.41 $10,809.10
41 $10,809.10 $241.58 $0.00 $61.12 $11,111.80
42 $11,111.80 $241.58 $0.00 $62.83 $11,416.21
43 $11,416.21 $241.58 $0.00 $64.55 $11,722.34
44 $11,722.34 $241.58 $0.00 $66.28 $12,030.20
45 $12,030.20 $241.58 $0.00 $68.02 $12,339.80
46 $12,339.80 $241.58 $0.00 $69.77 $12,651.15
47 $12,651.15 $241.58 $0.00 $71.53 $12,964.26
48 $12,964.26 $241.58 $0.00 $73.30 $13,279.14
49 $13,279.14 $241.58 $0.00 $75.08 $13,595.80
50 $13,595.80 $241.58 $0.00 $76.87 $13,914.25
51 $13,914.25 $241.58 $0.00 $78.67 $14,234.50
52 $14,234.50 $241.58 $0.00 $80.48 $14,556.56
53 $14,556.56 $241.58 $0.00 $82.30 $14,880.44
54 $14,880.44 $241.58 $0.00 $84.14 $15,206.16
55 $15,206.16 $241.58 $0.00 $85.98 $15,533.72
56 $15,533.72 $241.58 $0.00 $87.83 $15,863.13
57 $15,863.13 $241.58 $0.00 $89.69 $16,194.40
58 $16,194.40 $241.58 $0.00 $91.57 $16,527.55
59 $16,527.55 $241.58 $0.00 $93.45 $16,862.58
60 $16,862.58 $241.58 $0.00 $95.34 $17,199.50
61 $17,199.50 $241.58 $0.00 $97.25 $17,538.33
62 $17,538.33 $241.58 $0.00 $99.16 $17,879.07
63 $17,879.07 $241.58 $0.00 $101.09 $18,221.74
64 $18,221.74 $241.58 $0.00 $103.03 $18,566.35
65 $18,566.35 $241.58 $0.00 $104.98 $18,912.91
66 $18,912.91 $241.58 $0.00 $106.94 $19,261.43
67 $19,261.43 $241.58 $0.00 $108.91 $19,611.92
68 $19,611.92 $241.58 $0.00 $110.89 $19,964.39
69 $19,964.39 $241.58 $0.00 $112.88 $20,318.85
70 $20,318.85 $241.58 $0.00 $114.89 $20,675.32
71 $20,675.32 $241.58 $0.00 $116.90 $21,033.80
72 $21,033.80 $241.58 $0.00 $118.93 $21,394.31
73 $21,394.31 $241.58 $0.00 $120.97 $21,756.86
74 $21,756.86 $241.58 $0.00 $123.02 $22,121.46
75 $22,121.46 $241.58 $0.00 $125.08 $22,488.12
76 $22,488.12 $241.58 $0.00 $127.15 $22,856.85
77 $22,856.85 $241.58 $0.00 $129.24 $23,227.67
78 $23,227.67 $241.58 $0.00 $131.33 $23,600.58
79 $23,600.58 $241.58 $0.00 $133.44 $23,975.60
80 $23,975.60 $241.58 $0.00 $135.56 $24,352.74
81 $24,352.74 $241.58 $0.00 $137.69 $24,732.01
82 $24,732.01 $241.58 $0.00 $139.84 $25,113.43
83 $25,113.43 $241.58 $0.00 $141.99 $25,497.00
84 $25,497.00 $241.58 $0.00 $144.16 $25,882.74
85 $25,882.74 $241.58 $0.00 $146.34 $26,270.66
86 $26,270.66 $241.58 $0.00 $148.54 $26,660.78
87 $26,660.78 $241.58 $0.00 $150.74 $27,053.10
88 $27,053.10 $241.58 $0.00 $152.96 $27,447.64
89 $27,447.64 $241.58 $0.00 $155.19 $27,844.41
90 $27,844.41 $241.58 $0.00 $157.44 $28,243.43
91 $28,243.43 $241.58 $0.00 $159.69 $28,644.70
92 $28,644.70 $241.58 $0.00 $161.96 $29,048.24
93 $29,048.24 $241.58 $0.00 $164.24 $29,454.06
94 $29,454.06 $241.58 $0.00 $166.54 $29,862.18
95 $29,862.18 $241.58 $0.00 $168.85 $30,272.61
96 $30,272.61 $241.58 $0.00 $171.17 $30,685.36
97 $30,685.36 $241.58 $0.00 $173.50 $31,100.44
98 $31,100.44 $241.58 $0.00 $175.85 $31,517.87
99 $31,517.87 $241.58 $0.00 $178.21 $31,937.66
100 $31,937.66 $241.58 $0.00 $180.58 $32,359.82
101 $32,359.82 $241.58 $0.00 $182.97 $32,784.37
102 $32,784.37 $241.58 $0.00 $185.37 $33,211.32
103 $33,211.32 $241.58 $0.00 $187.78 $33,640.68
104 $33,640.68 $241.58 $0.00 $190.21 $34,072.47
105 $34,072.47 $241.58 $0.00 $192.65 $34,506.70
106 $34,506.70 $241.58 $0.00 $195.11 $34,943.39
107 $34,943.39 $241.58 $0.00 $197.58 $35,382.55
108 $35,382.55 $241.58 $0.00 $200.06 $35,824.19
109 $35,824.19 $241.58 $0.00 $202.56 $36,268.33
110 $36,268.33 $241.58 $0.00 $205.07 $36,714.98
111 $36,714.98 $241.58 $0.00 $207.59 $37,164.15
112 $37,164.15 $241.58 $0.00 $210.13 $37,615.86
113 $37,615.86 $241.58 $0.00 $212.69 $38,070.13
114 $38,070.13 $241.58 $0.00 $215.25 $38,526.96
115 $38,526.96 $241.58 $0.00 $217.84 $38,986.38
116 $38,986.38 $241.58 $0.00 $220.43 $39,448.39
117 $39,448.39 $241.58 $0.00 $223.05 $39,913.02
118 $39,913.02 $241.58 $0.00 $225.67 $40,380.27
119 $40,380.27 $241.58 $0.00 $228.32 $40,850.17
120 $40,850.17 $241.58 $0.00 $230.97 $41,322.72
121 $41,322.72 $241.58 $0.00 $233.64 $41,797.94
122 $41,797.94 $241.58 $0.00 $236.33 $42,275.85
123 $42,275.85 $241.58 $0.00 $239.03 $42,756.46
124 $42,756.46 $241.58 $0.00 $241.75 $43,239.79
125 $43,239.79 $241.58 $0.00 $244.48 $43,725.85
126 $43,725.85 $241.58 $0.00 $247.23 $44,214.66
127 $44,214.66 $241.58 $0.00 $250.00 $44,706.24
128 $44,706.24 $241.58 $0.00 $252.78 $45,200.60
129 $45,200.60 $241.58 $0.00 $255.57 $45,697.75
130 $45,697.75 $241.58 $0.00 $258.38 $46,197.71
131 $46,197.71 $241.58 $0.00 $261.21 $46,700.50
132 $46,700.50 $241.58 $0.00 $264.05 $47,206.13
133 $47,206.13 $241.58 $0.00 $266.91 $47,714.62
134 $47,714.62 $241.58 $0.00 $269.79 $48,225.99
135 $48,225.99 $241.58 $0.00 $272.68 $48,740.25
136 $48,740.25 $241.58 $0.00 $275.58 $49,257.41
137 $49,257.41 $241.58 $0.00 $278.51 $49,777.50
138 $49,777.50 $241.58 $0.00 $281.45 $50,300.53
139 $50,300.53 $241.58 $0.00 $284.41 $50,826.52
140 $50,826.52 $241.58 $0.00 $287.38 $51,355.48
141 $51,355.48 $241.58 $0.00 $290.37 $51,887.43
142 $51,887.43 $241.58 $0.00 $293.38 $52,422.39
143 $52,422.39 $241.58 $0.00 $296.40 $52,960.37
144 $52,960.37 $241.58 $0.00 $299.45 $53,501.40
145 $53,501.40 $241.58 $0.00 $302.50 $54,045.48
146 $54,045.48 $241.58 $0.00 $305.58 $54,592.64
147 $54,592.64 $241.58 $0.00 $308.67 $55,142.89
148 $55,142.89 $241.58 $0.00 $311.79 $55,696.26
149 $55,696.26 $241.58 $0.00 $314.91 $56,252.75
150 $56,252.75 $241.58 $0.00 $318.06 $56,812.39
151 $56,812.39 $241.58 $0.00 $321.23 $57,375.20
152 $57,375.20 $241.58 $0.00 $324.41 $57,941.19
153 $57,941.19 $241.58 $0.00 $327.61 $58,510.38
154 $58,510.38 $241.58 $0.00 $330.83 $59,082.79
155 $59,082.79 $241.58 $0.00 $334.06 $59,658.43
156 $59,658.43 $241.58 $0.00 $337.32 $60,237.33
157 $60,237.33 $241.58 $0.00 $340.59 $60,819.50
158 $60,819.50 $241.58 $0.00 $343.88 $61,404.96
159 $61,404.96 $241.58 $0.00 $347.19 $61,993.73
160 $61,993.73 $241.58 $0.00 $350.52 $62,585.83
161 $62,585.83 $241.58 $0.00 $353.87 $63,181.28
162 $63,181.28 $241.58 $0.00 $357.24 $63,780.10
163 $63,780.10 $241.58 $0.00 $360.62 $64,382.30
164 $64,382.30 $241.58 $0.00 $364.03 $64,987.91
165 $64,987.91 $241.58 $0.00 $367.45 $65,596.94
166 $65,596.94 $241.58 $0.00 $370.89 $66,209.41
167 $66,209.41 $241.58 $0.00 $374.36 $66,825.35
168 $66,825.35 $241.58 $0.00 $377.84 $67,444.77
169 $67,444.77 $241.58 $0.00 $381.34 $68,067.69
170 $68,067.69 $241.58 $0.00 $384.86 $68,694.13
171 $68,694.13 $241.58 $0.00 $388.41 $69,324.12
172 $69,324.12 $241.58 $0.00 $391.97 $69,957.67
173 $69,957.67 $241.58 $0.00 $395.55 $70,594.80
174 $70,594.80 $241.58 $0.00 $399.15 $71,235.53
175 $71,235.53 $241.58 $0.00 $402.78 $71,879.89
176 $71,879.89 $241.58 $0.00 $406.42 $72,527.89
177 $72,527.89 $241.58 $0.00 $410.08 $73,179.55
178 $73,179.55 $241.58 $0.00 $413.77 $73,834.90
179 $73,834.90 $241.58 $0.00 $417.47 $74,493.95
180 $74,493.95 $241.58 $0.00 $421.20 $75,156.73
181 $75,156.73 $241.58 $0.00 $424.95 $75,823.26
182 $75,823.26 $241.58 $0.00 $428.72 $76,493.56
183 $76,493.56 $241.58 $0.00 $432.51 $77,167.65
184 $77,167.65 $241.58 $0.00 $436.32 $77,845.55
185 $77,845.55 $241.58 $0.00 $440.15 $78,527.28
186 $78,527.28 $241.58 $0.00 $444.00 $79,212.86
187 $79,212.86 $241.58 $0.00 $447.88 $79,902.32
188 $79,902.32 $241.58 $0.00 $451.78 $80,595.68
189 $80,595.68 $241.58 $0.00 $455.70 $81,292.96
190 $81,292.96 $241.58 $0.00 $459.64 $81,994.18
191 $81,994.18 $241.58 $0.00 $463.61 $82,699.37
192 $82,699.37 $241.58 $0.00 $467.59 $83,408.54
193 $83,408.54 $241.58 $0.00 $471.60 $84,121.72
194 $84,121.72 $241.58 $0.00 $475.64 $84,838.94
195 $84,838.94 $241.58 $0.00 $479.69 $85,560.21
196 $85,560.21 $241.58 $0.00 $483.77 $86,285.56
197 $86,285.56 $241.58 $0.00 $487.87 $87,015.01
198 $87,015.01 $241.58 $0.00 $492.00 $87,748.59
199 $87,748.59 $241.58 $0.00 $496.14 $88,486.31
200 $88,486.31 $241.58 $0.00 $500.31 $89,228.20
201 $89,228.20 $241.58 $0.00 $504.51 $89,974.29
202 $89,974.29 $241.58 $0.00 $508.73 $90,724.60
203 $90,724.60 $241.58 $0.00 $512.97 $91,479.15
204 $91,479.15 $241.58 $0.00 $517.24 $92,237.97
205 $92,237.97 $241.58 $0.00 $521.53 $93,001.08
206 $93,001.08 $241.58 $0.00 $525.84 $93,768.50
207 $93,768.50 $241.58 $0.00 $530.18 $94,540.26
208 $94,540.26 $241.58 $0.00 $534.54 $95,316.38
209 $95,316.38 $241.58 $0.00 $538.93 $96,096.89
210 $96,096.89 $241.58 $0.00 $543.35 $96,881.82
211 $96,881.82 $241.58 $0.00 $547.78 $97,671.18
212 $97,671.18 $241.58 $0.00 $552.25 $98,465.01
213 $98,465.01 $241.58 $0.00 $556.74 $99,263.33
214 $99,263.33 $241.58 $0.00 $561.25 $100,066.16
215 $100,066.16 $241.58 $0.00 $565.79 $100,873.53
216 $100,873.53 $241.58 $0.00 $570.35 $101,685.46
217 $101,685.46 $241.58 $28,323.50 $574.94 $74,178.48
218 $74,178.48 $241.58 $0.00 $419.42 $74,839.48
219 $74,839.48 $241.58 $0.00 $423.15 $75,504.21
220 $75,504.21 $241.58 $0.00 $426.91 $76,172.70
221 $76,172.70 $241.58 $0.00 $430.69 $76,844.97
222 $76,844.97 $241.58 $0.00 $434.49 $77,521.04
223 $77,521.04 $241.58 $0.00 $438.32 $78,200.94
224 $78,200.94 $241.58 $0.00 $442.16 $78,884.68
225 $78,884.68 $241.58 $0.00 $446.03 $79,572.29
226 $79,572.29 $241.58 $0.00 $449.91 $80,263.78
227 $80,263.78 $241.58 $0.00 $453.82 $80,959.18
228 $80,959.18 $241.58 $0.00 $457.75 $81,658.51
229 $81,658.51 $241.58 $29,739.68 $461.71 $52,622.12
230 $52,622.12 $241.58 $0.00 $297.53 $53,161.23
231 $53,161.23 $241.58 $0.00 $300.58 $53,703.39
232 $53,703.39 $241.58 $0.00 $303.65 $54,248.62
233 $54,248.62 $241.58 $0.00 $306.73 $54,796.93
234 $54,796.93 $241.58 $0.00 $309.83 $55,348.34
235 $55,348.34 $241.58 $0.00 $312.95 $55,902.87
236 $55,902.87 $241.58 $0.00 $316.08 $56,460.53
237 $56,460.53 $241.58 $0.00 $319.24 $57,021.35
238 $57,021.35 $241.58 $0.00 $322.41 $57,585.34
239 $57,585.34 $241.58 $0.00 $325.60 $58,152.52
240 $58,152.52 $241.58 $0.00 $328.80 $58,722.90
241 $58,722.90 $241.58 $31,226.66 $332.03 $28,069.85
242 $28,069.85 $241.58 $0.00 $158.71 $28,470.14
243 $28,470.14 $241.58 $0.00 $160.97 $28,872.69
244 $28,872.69 $241.58 $0.00 $163.25 $29,277.52
245 $29,277.52 $241.58 $0.00 $165.54 $29,684.64
246 $29,684.64 $241.58 $0.00 $167.84 $30,094.06
247 $30,094.06 $241.58 $0.00 $170.16 $30,505.80
248 $30,505.80 $241.58 $0.00 $172.48 $30,919.86
249 $30,919.86 $241.58 $0.00 $174.83 $31,336.27
250 $31,336.27 $241.58 $0.00 $177.18 $31,755.03
251 $31,755.03 $241.58 $0.00 $179.55 $32,176.16
252 $32,176.16 $241.58 $0.00 $181.93 $32,599.67
253 $32,599.67 $0.00 $32,787.99 $184.32 ($4.00)