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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$30,950
Monthly savings required$245

How much will it cost to send your child to Middle Georgia College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $123,799.72 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $245.00 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$11,935.00
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 $245.00 $0.00 $0.00 $245.00
2 $245.00 $245.00 $0.00 $1.39 $491.39
3 $491.39 $245.00 $0.00 $2.78 $739.17
4 $739.17 $245.00 $0.00 $4.18 $988.35
5 $988.35 $245.00 $0.00 $5.59 $1,238.94
6 $1,238.94 $245.00 $0.00 $7.01 $1,490.95
7 $1,490.95 $245.00 $0.00 $8.43 $1,744.38
8 $1,744.38 $245.00 $0.00 $9.86 $1,999.24
9 $1,999.24 $245.00 $0.00 $11.30 $2,255.54
10 $2,255.54 $245.00 $0.00 $12.75 $2,513.29
11 $2,513.29 $245.00 $0.00 $14.21 $2,772.50
12 $2,772.50 $245.00 $0.00 $15.68 $3,033.18
13 $3,033.18 $245.00 $0.00 $17.15 $3,295.33
14 $3,295.33 $245.00 $0.00 $18.63 $3,558.96
15 $3,558.96 $245.00 $0.00 $20.12 $3,824.08
16 $3,824.08 $245.00 $0.00 $21.62 $4,090.70
17 $4,090.70 $245.00 $0.00 $23.13 $4,358.83
18 $4,358.83 $245.00 $0.00 $24.65 $4,628.48
19 $4,628.48 $245.00 $0.00 $26.17 $4,899.65
20 $4,899.65 $245.00 $0.00 $27.70 $5,172.35
21 $5,172.35 $245.00 $0.00 $29.25 $5,446.60
22 $5,446.60 $245.00 $0.00 $30.80 $5,722.40
23 $5,722.40 $245.00 $0.00 $32.36 $5,999.76
24 $5,999.76 $245.00 $0.00 $33.92 $6,278.68
25 $6,278.68 $245.00 $0.00 $35.50 $6,559.18
26 $6,559.18 $245.00 $0.00 $37.09 $6,841.27
27 $6,841.27 $245.00 $0.00 $38.68 $7,124.95
28 $7,124.95 $245.00 $0.00 $40.29 $7,410.24
29 $7,410.24 $245.00 $0.00 $41.90 $7,697.14
30 $7,697.14 $245.00 $0.00 $43.52 $7,985.66
31 $7,985.66 $245.00 $0.00 $45.15 $8,275.81
32 $8,275.81 $245.00 $0.00 $46.79 $8,567.60
33 $8,567.60 $245.00 $0.00 $48.44 $8,861.04
34 $8,861.04 $245.00 $0.00 $50.10 $9,156.14
35 $9,156.14 $245.00 $0.00 $51.77 $9,452.91
36 $9,452.91 $245.00 $0.00 $53.45 $9,751.36
37 $9,751.36 $245.00 $0.00 $55.14 $10,051.50
38 $10,051.50 $245.00 $0.00 $56.83 $10,353.33
39 $10,353.33 $245.00 $0.00 $58.54 $10,656.87
40 $10,656.87 $245.00 $0.00 $60.26 $10,962.13
41 $10,962.13 $245.00 $0.00 $61.98 $11,269.11
42 $11,269.11 $245.00 $0.00 $63.72 $11,577.83
43 $11,577.83 $245.00 $0.00 $65.46 $11,888.29
44 $11,888.29 $245.00 $0.00 $67.22 $12,200.51
45 $12,200.51 $245.00 $0.00 $68.98 $12,514.49
46 $12,514.49 $245.00 $0.00 $70.76 $12,830.25
47 $12,830.25 $245.00 $0.00 $72.54 $13,147.79
48 $13,147.79 $245.00 $0.00 $74.34 $13,467.13
49 $13,467.13 $245.00 $0.00 $76.15 $13,788.28
50 $13,788.28 $245.00 $0.00 $77.96 $14,111.24
51 $14,111.24 $245.00 $0.00 $79.79 $14,436.03
52 $14,436.03 $245.00 $0.00 $81.62 $14,762.65
53 $14,762.65 $245.00 $0.00 $83.47 $15,091.12
54 $15,091.12 $245.00 $0.00 $85.33 $15,421.45
55 $15,421.45 $245.00 $0.00 $87.20 $15,753.65
56 $15,753.65 $245.00 $0.00 $89.07 $16,087.72
57 $16,087.72 $245.00 $0.00 $90.96 $16,423.68
58 $16,423.68 $245.00 $0.00 $92.86 $16,761.54
59 $16,761.54 $245.00 $0.00 $94.77 $17,101.31
60 $17,101.31 $245.00 $0.00 $96.69 $17,443.00
61 $17,443.00 $245.00 $0.00 $98.63 $17,786.63
62 $17,786.63 $245.00 $0.00 $100.57 $18,132.20
63 $18,132.20 $245.00 $0.00 $102.52 $18,479.72
64 $18,479.72 $245.00 $0.00 $104.49 $18,829.21
65 $18,829.21 $245.00 $0.00 $106.46 $19,180.67
66 $19,180.67 $245.00 $0.00 $108.45 $19,534.12
67 $19,534.12 $245.00 $0.00 $110.45 $19,889.57
68 $19,889.57 $245.00 $0.00 $112.46 $20,247.03
69 $20,247.03 $245.00 $0.00 $114.48 $20,606.51
70 $20,606.51 $245.00 $0.00 $116.51 $20,968.02
71 $20,968.02 $245.00 $0.00 $118.56 $21,331.58
72 $21,331.58 $245.00 $0.00 $120.61 $21,697.19
73 $21,697.19 $245.00 $0.00 $122.68 $22,064.87
74 $22,064.87 $245.00 $0.00 $124.76 $22,434.63
75 $22,434.63 $245.00 $0.00 $126.85 $22,806.48
76 $22,806.48 $245.00 $0.00 $128.95 $23,180.43
77 $23,180.43 $245.00 $0.00 $131.07 $23,556.50
78 $23,556.50 $245.00 $0.00 $133.19 $23,934.69
79 $23,934.69 $245.00 $0.00 $135.33 $24,315.02
80 $24,315.02 $245.00 $0.00 $137.48 $24,697.50
81 $24,697.50 $245.00 $0.00 $139.64 $25,082.14
82 $25,082.14 $245.00 $0.00 $141.82 $25,468.96
83 $25,468.96 $245.00 $0.00 $144.01 $25,857.97
84 $25,857.97 $245.00 $0.00 $146.20 $26,249.17
85 $26,249.17 $245.00 $0.00 $148.42 $26,642.59
86 $26,642.59 $245.00 $0.00 $150.64 $27,038.23
87 $27,038.23 $245.00 $0.00 $152.88 $27,436.11
88 $27,436.11 $245.00 $0.00 $155.13 $27,836.24
89 $27,836.24 $245.00 $0.00 $157.39 $28,238.63
90 $28,238.63 $245.00 $0.00 $159.67 $28,643.30
91 $28,643.30 $245.00 $0.00 $161.95 $29,050.25
92 $29,050.25 $245.00 $0.00 $164.25 $29,459.50
93 $29,459.50 $245.00 $0.00 $166.57 $29,871.07
94 $29,871.07 $245.00 $0.00 $168.90 $30,284.97
95 $30,284.97 $245.00 $0.00 $171.24 $30,701.21
96 $30,701.21 $245.00 $0.00 $173.59 $31,119.80
97 $31,119.80 $245.00 $0.00 $175.96 $31,540.76
98 $31,540.76 $245.00 $0.00 $178.34 $31,964.10
99 $31,964.10 $245.00 $0.00 $180.73 $32,389.83
100 $32,389.83 $245.00 $0.00 $183.14 $32,817.97
101 $32,817.97 $245.00 $0.00 $185.56 $33,248.53
102 $33,248.53 $245.00 $0.00 $187.99 $33,681.52
103 $33,681.52 $245.00 $0.00 $190.44 $34,116.96
104 $34,116.96 $245.00 $0.00 $192.90 $34,554.86
105 $34,554.86 $245.00 $0.00 $195.38 $34,995.24
106 $34,995.24 $245.00 $0.00 $197.87 $35,438.11
107 $35,438.11 $245.00 $0.00 $200.37 $35,883.48
108 $35,883.48 $245.00 $0.00 $202.89 $36,331.37
109 $36,331.37 $245.00 $0.00 $205.42 $36,781.79
110 $36,781.79 $245.00 $0.00 $207.97 $37,234.76
111 $37,234.76 $245.00 $0.00 $210.53 $37,690.29
112 $37,690.29 $245.00 $0.00 $213.11 $38,148.40
113 $38,148.40 $245.00 $0.00 $215.70 $38,609.10
114 $38,609.10 $245.00 $0.00 $218.30 $39,072.40
115 $39,072.40 $245.00 $0.00 $220.92 $39,538.32
116 $39,538.32 $245.00 $0.00 $223.56 $40,006.88
117 $40,006.88 $245.00 $0.00 $226.20 $40,478.08
118 $40,478.08 $245.00 $0.00 $228.87 $40,951.95
119 $40,951.95 $245.00 $0.00 $231.55 $41,428.50
120 $41,428.50 $245.00 $0.00 $234.24 $41,907.74
121 $41,907.74 $245.00 $0.00 $236.95 $42,389.69
122 $42,389.69 $245.00 $0.00 $239.68 $42,874.37
123 $42,874.37 $245.00 $0.00 $242.42 $43,361.79
124 $43,361.79 $245.00 $0.00 $245.17 $43,851.96
125 $43,851.96 $245.00 $0.00 $247.95 $44,344.91
126 $44,344.91 $245.00 $0.00 $250.73 $44,840.64
127 $44,840.64 $245.00 $0.00 $253.54 $45,339.18
128 $45,339.18 $245.00 $0.00 $256.35 $45,840.53
129 $45,840.53 $245.00 $0.00 $259.19 $46,344.72
130 $46,344.72 $245.00 $0.00 $262.04 $46,851.76
131 $46,851.76 $245.00 $0.00 $264.91 $47,361.67
132 $47,361.67 $245.00 $0.00 $267.79 $47,874.46
133 $47,874.46 $245.00 $0.00 $270.69 $48,390.15
134 $48,390.15 $245.00 $0.00 $273.60 $48,908.75
135 $48,908.75 $245.00 $0.00 $276.54 $49,430.29
136 $49,430.29 $245.00 $0.00 $279.49 $49,954.78
137 $49,954.78 $245.00 $0.00 $282.45 $50,482.23
138 $50,482.23 $245.00 $0.00 $285.43 $51,012.66
139 $51,012.66 $245.00 $0.00 $288.43 $51,546.09
140 $51,546.09 $245.00 $0.00 $291.45 $52,082.54
141 $52,082.54 $245.00 $0.00 $294.48 $52,622.02
142 $52,622.02 $245.00 $0.00 $297.53 $53,164.55
143 $53,164.55 $245.00 $0.00 $300.60 $53,710.15
144 $53,710.15 $245.00 $0.00 $303.68 $54,258.83
145 $54,258.83 $245.00 $0.00 $306.79 $54,810.62
146 $54,810.62 $245.00 $0.00 $309.91 $55,365.53
147 $55,365.53 $245.00 $0.00 $313.04 $55,923.57
148 $55,923.57 $245.00 $0.00 $316.20 $56,484.77
149 $56,484.77 $245.00 $0.00 $319.37 $57,049.14
150 $57,049.14 $245.00 $0.00 $322.56 $57,616.70
151 $57,616.70 $245.00 $0.00 $325.77 $58,187.47
152 $58,187.47 $245.00 $0.00 $329.00 $58,761.47
153 $58,761.47 $245.00 $0.00 $332.25 $59,338.72
154 $59,338.72 $245.00 $0.00 $335.51 $59,919.23
155 $59,919.23 $245.00 $0.00 $338.79 $60,503.02
156 $60,503.02 $245.00 $0.00 $342.09 $61,090.11
157 $61,090.11 $245.00 $0.00 $345.41 $61,680.52
158 $61,680.52 $245.00 $0.00 $348.75 $62,274.27
159 $62,274.27 $245.00 $0.00 $352.11 $62,871.38
160 $62,871.38 $245.00 $0.00 $355.48 $63,471.86
161 $63,471.86 $245.00 $0.00 $358.88 $64,075.74
162 $64,075.74 $245.00 $0.00 $362.29 $64,683.03
163 $64,683.03 $245.00 $0.00 $365.73 $65,293.76
164 $65,293.76 $245.00 $0.00 $369.18 $65,907.94
165 $65,907.94 $245.00 $0.00 $372.65 $66,525.59
166 $66,525.59 $245.00 $0.00 $376.15 $67,146.74
167 $67,146.74 $245.00 $0.00 $379.66 $67,771.40
168 $67,771.40 $245.00 $0.00 $383.19 $68,399.59
169 $68,399.59 $245.00 $0.00 $386.74 $69,031.33
170 $69,031.33 $245.00 $0.00 $390.31 $69,666.64
171 $69,666.64 $245.00 $0.00 $393.91 $70,305.55
172 $70,305.55 $245.00 $0.00 $397.52 $70,948.07
173 $70,948.07 $245.00 $0.00 $401.15 $71,594.22
174 $71,594.22 $245.00 $0.00 $404.80 $72,244.02
175 $72,244.02 $245.00 $0.00 $408.48 $72,897.50
176 $72,897.50 $245.00 $0.00 $412.17 $73,554.67
177 $73,554.67 $245.00 $0.00 $415.89 $74,215.56
178 $74,215.56 $245.00 $0.00 $419.63 $74,880.19
179 $74,880.19 $245.00 $0.00 $423.38 $75,548.57
180 $75,548.57 $245.00 $0.00 $427.16 $76,220.73
181 $76,220.73 $245.00 $0.00 $430.96 $76,896.69
182 $76,896.69 $245.00 $0.00 $434.79 $77,576.48
183 $77,576.48 $245.00 $0.00 $438.63 $78,260.11
184 $78,260.11 $245.00 $0.00 $442.49 $78,947.60
185 $78,947.60 $245.00 $0.00 $446.38 $79,638.98
186 $79,638.98 $245.00 $0.00 $450.29 $80,334.27
187 $80,334.27 $245.00 $0.00 $454.22 $81,033.49
188 $81,033.49 $245.00 $0.00 $458.18 $81,736.67
189 $81,736.67 $245.00 $0.00 $462.15 $82,443.82
190 $82,443.82 $245.00 $0.00 $466.15 $83,154.97
191 $83,154.97 $245.00 $0.00 $470.17 $83,870.14
192 $83,870.14 $245.00 $0.00 $474.21 $84,589.35
193 $84,589.35 $245.00 $0.00 $478.28 $85,312.63
194 $85,312.63 $245.00 $0.00 $482.37 $86,040.00
195 $86,040.00 $245.00 $0.00 $486.48 $86,771.48
196 $86,771.48 $245.00 $0.00 $490.62 $87,507.10
197 $87,507.10 $245.00 $0.00 $494.78 $88,246.88
198 $88,246.88 $245.00 $0.00 $498.96 $88,990.84
199 $88,990.84 $245.00 $0.00 $503.17 $89,739.01
200 $89,739.01 $245.00 $0.00 $507.40 $90,491.41
201 $90,491.41 $245.00 $0.00 $511.65 $91,248.06
202 $91,248.06 $245.00 $0.00 $515.93 $92,008.99
203 $92,008.99 $245.00 $0.00 $520.23 $92,774.22
204 $92,774.22 $245.00 $0.00 $524.56 $93,543.78
205 $93,543.78 $245.00 $0.00 $528.91 $94,317.69
206 $94,317.69 $245.00 $0.00 $533.29 $95,095.98
207 $95,095.98 $245.00 $0.00 $537.69 $95,878.67
208 $95,878.67 $245.00 $0.00 $542.11 $96,665.78
209 $96,665.78 $245.00 $0.00 $546.56 $97,457.34
210 $97,457.34 $245.00 $0.00 $551.04 $98,253.38
211 $98,253.38 $245.00 $0.00 $555.54 $99,053.92
212 $99,053.92 $245.00 $0.00 $560.07 $99,858.99
213 $99,858.99 $245.00 $0.00 $564.62 $100,668.61
214 $100,668.61 $245.00 $0.00 $569.19 $101,482.80
215 $101,482.80 $245.00 $0.00 $573.80 $102,301.60
216 $102,301.60 $245.00 $0.00 $578.43 $103,125.03
217 $103,125.03 $245.00 $28,723.00 $583.08 $75,230.11
218 $75,230.11 $245.00 $0.00 $425.36 $75,900.47
219 $75,900.47 $245.00 $0.00 $429.15 $76,574.62
220 $76,574.62 $245.00 $0.00 $432.96 $77,252.58
221 $77,252.58 $245.00 $0.00 $436.80 $77,934.38
222 $77,934.38 $245.00 $0.00 $440.65 $78,620.03
223 $78,620.03 $245.00 $0.00 $444.53 $79,309.56
224 $79,309.56 $245.00 $0.00 $448.43 $80,002.99
225 $80,002.99 $245.00 $0.00 $452.35 $80,700.34
226 $80,700.34 $245.00 $0.00 $456.29 $81,401.63
227 $81,401.63 $245.00 $0.00 $460.26 $82,106.89
228 $82,106.89 $245.00 $0.00 $464.24 $82,816.13
229 $82,816.13 $245.00 $30,159.15 $468.25 $53,370.23
230 $53,370.23 $245.00 $0.00 $301.76 $53,916.99
231 $53,916.99 $245.00 $0.00 $304.85 $54,466.84
232 $54,466.84 $245.00 $0.00 $307.96 $55,019.80
233 $55,019.80 $245.00 $0.00 $311.09 $55,575.89
234 $55,575.89 $245.00 $0.00 $314.23 $56,135.12
235 $56,135.12 $245.00 $0.00 $317.40 $56,697.52
236 $56,697.52 $245.00 $0.00 $320.58 $57,263.10
237 $57,263.10 $245.00 $0.00 $323.77 $57,831.87
238 $57,831.87 $245.00 $0.00 $326.99 $58,403.86
239 $58,403.86 $245.00 $0.00 $330.22 $58,979.08
240 $58,979.08 $245.00 $0.00 $333.48 $59,557.56
241 $59,557.56 $245.00 $31,667.11 $336.75 $28,472.20
242 $28,472.20 $245.00 $0.00 $160.99 $28,878.19
243 $28,878.19 $245.00 $0.00 $163.28 $29,286.47
244 $29,286.47 $245.00 $0.00 $165.59 $29,697.06
245 $29,697.06 $245.00 $0.00 $167.91 $30,109.97
246 $30,109.97 $245.00 $0.00 $170.25 $30,525.22
247 $30,525.22 $245.00 $0.00 $172.59 $30,942.81
248 $30,942.81 $245.00 $0.00 $174.96 $31,362.77
249 $31,362.77 $245.00 $0.00 $177.33 $31,785.10
250 $31,785.10 $245.00 $0.00 $179.72 $32,209.82
251 $32,209.82 $245.00 $0.00 $182.12 $32,636.94
252 $32,636.94 $245.00 $0.00 $184.53 $33,066.47
253 $33,066.47 $0.00 $33,250.46 $186.96 $2.97