Savings Plan and Future Cost Estimation for Lake Forest College

How much will it cost and what do you need to save?

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$258,115
Monthly savings required$2,040

How much will it cost to send your child to Lake Forest College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $1,032,461.42 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $2,039.94 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$68,800.00
Years until enrollment18
Annual Tuition Increase7%
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 $2,039.94 $0.00 $0.00 $2,039.94
2 $2,039.94 $2,039.94 $0.00 $11.53 $4,091.41
3 $4,091.41 $2,039.94 $0.00 $23.13 $6,154.48
4 $6,154.48 $2,039.94 $0.00 $34.80 $8,229.22
5 $8,229.22 $2,039.94 $0.00 $46.53 $10,315.69
6 $10,315.69 $2,039.94 $0.00 $58.33 $12,413.96
7 $12,413.96 $2,039.94 $0.00 $70.19 $14,524.09
8 $14,524.09 $2,039.94 $0.00 $82.12 $16,646.15
9 $16,646.15 $2,039.94 $0.00 $94.12 $18,780.21
10 $18,780.21 $2,039.94 $0.00 $106.19 $20,926.34
11 $20,926.34 $2,039.94 $0.00 $118.32 $23,084.60
12 $23,084.60 $2,039.94 $0.00 $130.52 $25,255.06
13 $25,255.06 $2,039.94 $0.00 $142.80 $27,437.80
14 $27,437.80 $2,039.94 $0.00 $155.14 $29,632.88
15 $29,632.88 $2,039.94 $0.00 $167.55 $31,840.37
16 $31,840.37 $2,039.94 $0.00 $180.03 $34,060.34
17 $34,060.34 $2,039.94 $0.00 $192.58 $36,292.86
18 $36,292.86 $2,039.94 $0.00 $205.21 $38,538.01
19 $38,538.01 $2,039.94 $0.00 $217.90 $40,795.85
20 $40,795.85 $2,039.94 $0.00 $230.67 $43,066.46
21 $43,066.46 $2,039.94 $0.00 $243.50 $45,349.90
22 $45,349.90 $2,039.94 $0.00 $256.41 $47,646.25
23 $47,646.25 $2,039.94 $0.00 $269.40 $49,955.59
24 $49,955.59 $2,039.94 $0.00 $282.46 $52,277.99
25 $52,277.99 $2,039.94 $0.00 $295.59 $54,613.52
26 $54,613.52 $2,039.94 $0.00 $308.79 $56,962.25
27 $56,962.25 $2,039.94 $0.00 $322.07 $59,324.26
28 $59,324.26 $2,039.94 $0.00 $335.43 $61,699.63
29 $61,699.63 $2,039.94 $0.00 $348.86 $64,088.43
30 $64,088.43 $2,039.94 $0.00 $362.37 $66,490.74
31 $66,490.74 $2,039.94 $0.00 $375.95 $68,906.63
32 $68,906.63 $2,039.94 $0.00 $389.61 $71,336.18
33 $71,336.18 $2,039.94 $0.00 $403.35 $73,779.47
34 $73,779.47 $2,039.94 $0.00 $417.16 $76,236.57
35 $76,236.57 $2,039.94 $0.00 $431.05 $78,707.56
36 $78,707.56 $2,039.94 $0.00 $445.02 $81,192.52
37 $81,192.52 $2,039.94 $0.00 $459.07 $83,691.53
38 $83,691.53 $2,039.94 $0.00 $473.20 $86,204.67
39 $86,204.67 $2,039.94 $0.00 $487.41 $88,732.02
40 $88,732.02 $2,039.94 $0.00 $501.70 $91,273.66
41 $91,273.66 $2,039.94 $0.00 $516.07 $93,829.67
42 $93,829.67 $2,039.94 $0.00 $530.53 $96,400.14
43 $96,400.14 $2,039.94 $0.00 $545.06 $98,985.14
44 $98,985.14 $2,039.94 $0.00 $559.68 $101,584.76
45 $101,584.76 $2,039.94 $0.00 $574.38 $104,199.08
46 $104,199.08 $2,039.94 $0.00 $589.16 $106,828.18
47 $106,828.18 $2,039.94 $0.00 $604.02 $109,472.14
48 $109,472.14 $2,039.94 $0.00 $618.97 $112,131.05
49 $112,131.05 $2,039.94 $0.00 $634.01 $114,805.00
50 $114,805.00 $2,039.94 $0.00 $649.12 $117,494.06
51 $117,494.06 $2,039.94 $0.00 $664.33 $120,198.33
52 $120,198.33 $2,039.94 $0.00 $679.62 $122,917.89
53 $122,917.89 $2,039.94 $0.00 $695.00 $125,652.83
54 $125,652.83 $2,039.94 $0.00 $710.46 $128,403.23
55 $128,403.23 $2,039.94 $0.00 $726.01 $131,169.18
56 $131,169.18 $2,039.94 $0.00 $741.65 $133,950.77
57 $133,950.77 $2,039.94 $0.00 $757.38 $136,748.09
58 $136,748.09 $2,039.94 $0.00 $773.19 $139,561.22
59 $139,561.22 $2,039.94 $0.00 $789.10 $142,390.26
60 $142,390.26 $2,039.94 $0.00 $805.10 $145,235.30
61 $145,235.30 $2,039.94 $0.00 $821.18 $148,096.42
62 $148,096.42 $2,039.94 $0.00 $837.36 $150,973.72
63 $150,973.72 $2,039.94 $0.00 $853.63 $153,867.29
64 $153,867.29 $2,039.94 $0.00 $869.99 $156,777.22
65 $156,777.22 $2,039.94 $0.00 $886.44 $159,703.60
66 $159,703.60 $2,039.94 $0.00 $902.99 $162,646.53
67 $162,646.53 $2,039.94 $0.00 $919.63 $165,606.10
68 $165,606.10 $2,039.94 $0.00 $936.36 $168,582.40
69 $168,582.40 $2,039.94 $0.00 $953.19 $171,575.53
70 $171,575.53 $2,039.94 $0.00 $970.11 $174,585.58
71 $174,585.58 $2,039.94 $0.00 $987.13 $177,612.65
72 $177,612.65 $2,039.94 $0.00 $1,004.25 $180,656.84
73 $180,656.84 $2,039.94 $0.00 $1,021.46 $183,718.24
74 $183,718.24 $2,039.94 $0.00 $1,038.77 $186,796.95
75 $186,796.95 $2,039.94 $0.00 $1,056.18 $189,893.07
76 $189,893.07 $2,039.94 $0.00 $1,073.68 $193,006.69
77 $193,006.69 $2,039.94 $0.00 $1,091.29 $196,137.92
78 $196,137.92 $2,039.94 $0.00 $1,108.99 $199,286.85
79 $199,286.85 $2,039.94 $0.00 $1,126.80 $202,453.59
80 $202,453.59 $2,039.94 $0.00 $1,144.70 $205,638.23
81 $205,638.23 $2,039.94 $0.00 $1,162.71 $208,840.88
82 $208,840.88 $2,039.94 $0.00 $1,180.82 $212,061.64
83 $212,061.64 $2,039.94 $0.00 $1,199.03 $215,300.61
84 $215,300.61 $2,039.94 $0.00 $1,217.34 $218,557.89
85 $218,557.89 $2,039.94 $0.00 $1,235.76 $221,833.59
86 $221,833.59 $2,039.94 $0.00 $1,254.28 $225,127.81
87 $225,127.81 $2,039.94 $0.00 $1,272.91 $228,440.66
88 $228,440.66 $2,039.94 $0.00 $1,291.64 $231,772.24
89 $231,772.24 $2,039.94 $0.00 $1,310.47 $235,122.65
90 $235,122.65 $2,039.94 $0.00 $1,329.42 $238,492.01
91 $238,492.01 $2,039.94 $0.00 $1,348.47 $241,880.42
92 $241,880.42 $2,039.94 $0.00 $1,367.63 $245,287.99
93 $245,287.99 $2,039.94 $0.00 $1,386.89 $248,714.82
94 $248,714.82 $2,039.94 $0.00 $1,406.27 $252,161.03
95 $252,161.03 $2,039.94 $0.00 $1,425.76 $255,626.73
96 $255,626.73 $2,039.94 $0.00 $1,445.35 $259,112.02
97 $259,112.02 $2,039.94 $0.00 $1,465.06 $262,617.02
98 $262,617.02 $2,039.94 $0.00 $1,484.87 $266,141.83
99 $266,141.83 $2,039.94 $0.00 $1,504.80 $269,686.57
100 $269,686.57 $2,039.94 $0.00 $1,524.85 $273,251.36
101 $273,251.36 $2,039.94 $0.00 $1,545.00 $276,836.30
102 $276,836.30 $2,039.94 $0.00 $1,565.27 $280,441.51
103 $280,441.51 $2,039.94 $0.00 $1,585.66 $284,067.11
104 $284,067.11 $2,039.94 $0.00 $1,606.16 $287,713.21
105 $287,713.21 $2,039.94 $0.00 $1,626.77 $291,379.92
106 $291,379.92 $2,039.94 $0.00 $1,647.50 $295,067.36
107 $295,067.36 $2,039.94 $0.00 $1,668.35 $298,775.65
108 $298,775.65 $2,039.94 $0.00 $1,689.32 $302,504.91
109 $302,504.91 $2,039.94 $0.00 $1,710.41 $306,255.26
110 $306,255.26 $2,039.94 $0.00 $1,731.61 $310,026.81
111 $310,026.81 $2,039.94 $0.00 $1,752.94 $313,819.69
112 $313,819.69 $2,039.94 $0.00 $1,774.38 $317,634.01
113 $317,634.01 $2,039.94 $0.00 $1,795.95 $321,469.90
114 $321,469.90 $2,039.94 $0.00 $1,817.64 $325,327.48
115 $325,327.48 $2,039.94 $0.00 $1,839.45 $329,206.87
116 $329,206.87 $2,039.94 $0.00 $1,861.38 $333,108.19
117 $333,108.19 $2,039.94 $0.00 $1,883.44 $337,031.57
118 $337,031.57 $2,039.94 $0.00 $1,905.63 $340,977.14
119 $340,977.14 $2,039.94 $0.00 $1,927.93 $344,945.01
120 $344,945.01 $2,039.94 $0.00 $1,950.37 $348,935.32
121 $348,935.32 $2,039.94 $0.00 $1,972.93 $352,948.19
122 $352,948.19 $2,039.94 $0.00 $1,995.62 $356,983.75
123 $356,983.75 $2,039.94 $0.00 $2,018.44 $361,042.13
124 $361,042.13 $2,039.94 $0.00 $2,041.38 $365,123.45
125 $365,123.45 $2,039.94 $0.00 $2,064.46 $369,227.85
126 $369,227.85 $2,039.94 $0.00 $2,087.67 $373,355.46
127 $373,355.46 $2,039.94 $0.00 $2,111.01 $377,506.41
128 $377,506.41 $2,039.94 $0.00 $2,134.48 $381,680.83
129 $381,680.83 $2,039.94 $0.00 $2,158.08 $385,878.85
130 $385,878.85 $2,039.94 $0.00 $2,181.82 $390,100.61
131 $390,100.61 $2,039.94 $0.00 $2,205.69 $394,346.24
132 $394,346.24 $2,039.94 $0.00 $2,229.69 $398,615.87
133 $398,615.87 $2,039.94 $0.00 $2,253.83 $402,909.64
134 $402,909.64 $2,039.94 $0.00 $2,278.11 $407,227.69
135 $407,227.69 $2,039.94 $0.00 $2,302.52 $411,570.15
136 $411,570.15 $2,039.94 $0.00 $2,327.08 $415,937.17
137 $415,937.17 $2,039.94 $0.00 $2,351.77 $420,328.88
138 $420,328.88 $2,039.94 $0.00 $2,376.60 $424,745.42
139 $424,745.42 $2,039.94 $0.00 $2,401.57 $429,186.93
140 $429,186.93 $2,039.94 $0.00 $2,426.69 $433,653.56
141 $433,653.56 $2,039.94 $0.00 $2,451.94 $438,145.44
142 $438,145.44 $2,039.94 $0.00 $2,477.34 $442,662.72
143 $442,662.72 $2,039.94 $0.00 $2,502.88 $447,205.54
144 $447,205.54 $2,039.94 $0.00 $2,528.57 $451,774.05
145 $451,774.05 $2,039.94 $0.00 $2,554.40 $456,368.39
146 $456,368.39 $2,039.94 $0.00 $2,580.37 $460,988.70
147 $460,988.70 $2,039.94 $0.00 $2,606.50 $465,635.14
148 $465,635.14 $2,039.94 $0.00 $2,632.77 $470,307.85
149 $470,307.85 $2,039.94 $0.00 $2,659.19 $475,006.98
150 $475,006.98 $2,039.94 $0.00 $2,685.76 $479,732.68
151 $479,732.68 $2,039.94 $0.00 $2,712.48 $484,485.10
152 $484,485.10 $2,039.94 $0.00 $2,739.35 $489,264.39
153 $489,264.39 $2,039.94 $0.00 $2,766.37 $494,070.70
154 $494,070.70 $2,039.94 $0.00 $2,793.55 $498,904.19
155 $498,904.19 $2,039.94 $0.00 $2,820.88 $503,765.01
156 $503,765.01 $2,039.94 $0.00 $2,848.36 $508,653.31
157 $508,653.31 $2,039.94 $0.00 $2,876.00 $513,569.25
158 $513,569.25 $2,039.94 $0.00 $2,903.80 $518,512.99
159 $518,512.99 $2,039.94 $0.00 $2,931.75 $523,484.68
160 $523,484.68 $2,039.94 $0.00 $2,959.86 $528,484.48
161 $528,484.48 $2,039.94 $0.00 $2,988.13 $533,512.55
162 $533,512.55 $2,039.94 $0.00 $3,016.56 $538,569.05
163 $538,569.05 $2,039.94 $0.00 $3,045.15 $543,654.14
164 $543,654.14 $2,039.94 $0.00 $3,073.90 $548,767.98
165 $548,767.98 $2,039.94 $0.00 $3,102.81 $553,910.73
166 $553,910.73 $2,039.94 $0.00 $3,131.89 $559,082.56
167 $559,082.56 $2,039.94 $0.00 $3,161.13 $564,283.63
168 $564,283.63 $2,039.94 $0.00 $3,190.54 $569,514.11
169 $569,514.11 $2,039.94 $0.00 $3,220.12 $574,774.17
170 $574,774.17 $2,039.94 $0.00 $3,249.86 $580,063.97
171 $580,063.97 $2,039.94 $0.00 $3,279.77 $585,383.68
172 $585,383.68 $2,039.94 $0.00 $3,309.84 $590,733.46
173 $590,733.46 $2,039.94 $0.00 $3,340.09 $596,113.49
174 $596,113.49 $2,039.94 $0.00 $3,370.51 $601,523.94
175 $601,523.94 $2,039.94 $0.00 $3,401.10 $606,964.98
176 $606,964.98 $2,039.94 $0.00 $3,431.87 $612,436.79
177 $612,436.79 $2,039.94 $0.00 $3,462.81 $617,939.54
178 $617,939.54 $2,039.94 $0.00 $3,493.92 $623,473.40
179 $623,473.40 $2,039.94 $0.00 $3,525.21 $629,038.55
180 $629,038.55 $2,039.94 $0.00 $3,556.68 $634,635.17
181 $634,635.17 $2,039.94 $0.00 $3,588.32 $640,263.43
182 $640,263.43 $2,039.94 $0.00 $3,620.14 $645,923.51
183 $645,923.51 $2,039.94 $0.00 $3,652.15 $651,615.60
184 $651,615.60 $2,039.94 $0.00 $3,684.33 $657,339.87
185 $657,339.87 $2,039.94 $0.00 $3,716.70 $663,096.51
186 $663,096.51 $2,039.94 $0.00 $3,749.24 $668,885.69
187 $668,885.69 $2,039.94 $0.00 $3,781.98 $674,707.61
188 $674,707.61 $2,039.94 $0.00 $3,814.89 $680,562.44
189 $680,562.44 $2,039.94 $0.00 $3,848.00 $686,450.38
190 $686,450.38 $2,039.94 $0.00 $3,881.29 $692,371.61
191 $692,371.61 $2,039.94 $0.00 $3,914.77 $698,326.32
192 $698,326.32 $2,039.94 $0.00 $3,948.44 $704,314.70
193 $704,314.70 $2,039.94 $0.00 $3,982.30 $710,336.94
194 $710,336.94 $2,039.94 $0.00 $4,016.35 $716,393.23
195 $716,393.23 $2,039.94 $0.00 $4,050.59 $722,483.76
196 $722,483.76 $2,039.94 $0.00 $4,085.03 $728,608.73
197 $728,608.73 $2,039.94 $0.00 $4,119.66 $734,768.33
198 $734,768.33 $2,039.94 $0.00 $4,154.49 $740,962.76
199 $740,962.76 $2,039.94 $0.00 $4,189.51 $747,192.21
200 $747,192.21 $2,039.94 $0.00 $4,224.73 $753,456.88
201 $753,456.88 $2,039.94 $0.00 $4,260.15 $759,756.97
202 $759,756.97 $2,039.94 $0.00 $4,295.78 $766,092.69
203 $766,092.69 $2,039.94 $0.00 $4,331.60 $772,464.23
204 $772,464.23 $2,039.94 $0.00 $4,367.63 $778,871.80
205 $778,871.80 $2,039.94 $0.00 $4,403.85 $785,315.59
206 $785,315.59 $2,039.94 $0.00 $4,440.29 $791,795.82
207 $791,795.82 $2,039.94 $0.00 $4,476.93 $798,312.69
208 $798,312.69 $2,039.94 $0.00 $4,513.78 $804,866.41
209 $804,866.41 $2,039.94 $0.00 $4,550.83 $811,457.18
210 $811,457.18 $2,039.94 $0.00 $4,588.10 $818,085.22
211 $818,085.22 $2,039.94 $0.00 $4,625.57 $824,750.73
212 $824,750.73 $2,039.94 $0.00 $4,663.26 $831,453.93
213 $831,453.93 $2,039.94 $0.00 $4,701.16 $838,195.03
214 $838,195.03 $2,039.94 $0.00 $4,739.28 $844,974.25
215 $844,974.25 $2,039.94 $0.00 $4,777.61 $851,791.80
216 $851,791.80 $2,039.94 $0.00 $4,816.15 $858,647.89
217 $858,647.89 $2,039.94 $232,539.34 $4,854.92 $633,003.41
218 $633,003.41 $2,039.94 $0.00 $3,579.09 $638,622.44
219 $638,622.44 $2,039.94 $0.00 $3,610.86 $644,273.24
220 $644,273.24 $2,039.94 $0.00 $3,642.81 $649,955.99
221 $649,955.99 $2,039.94 $0.00 $3,674.95 $655,670.88
222 $655,670.88 $2,039.94 $0.00 $3,707.26 $661,418.08
223 $661,418.08 $2,039.94 $0.00 $3,739.75 $667,197.77
224 $667,197.77 $2,039.94 $0.00 $3,772.43 $673,010.14
225 $673,010.14 $2,039.94 $0.00 $3,805.30 $678,855.38
226 $678,855.38 $2,039.94 $0.00 $3,838.35 $684,733.67
227 $684,733.67 $2,039.94 $0.00 $3,871.58 $690,645.19
228 $690,645.19 $2,039.94 $0.00 $3,905.01 $696,590.14
229 $696,590.14 $2,039.94 $248,817.09 $3,938.62 $453,751.61
230 $453,751.61 $2,039.94 $0.00 $2,565.58 $458,357.13
231 $458,357.13 $2,039.94 $0.00 $2,591.62 $462,988.69
232 $462,988.69 $2,039.94 $0.00 $2,617.81 $467,646.44
233 $467,646.44 $2,039.94 $0.00 $2,644.14 $472,330.52
234 $472,330.52 $2,039.94 $0.00 $2,670.63 $477,041.09
235 $477,041.09 $2,039.94 $0.00 $2,697.26 $481,778.29
236 $481,778.29 $2,039.94 $0.00 $2,724.04 $486,542.27
237 $486,542.27 $2,039.94 $0.00 $2,750.98 $491,333.19
238 $491,333.19 $2,039.94 $0.00 $2,778.07 $496,151.20
239 $496,151.20 $2,039.94 $0.00 $2,805.31 $500,996.45
240 $500,996.45 $2,039.94 $0.00 $2,832.71 $505,869.10
241 $505,869.10 $2,039.94 $266,234.29 $2,860.26 $244,535.01
242 $244,535.01 $2,039.94 $0.00 $1,382.64 $247,957.59
243 $247,957.59 $2,039.94 $0.00 $1,401.99 $251,399.52
244 $251,399.52 $2,039.94 $0.00 $1,421.45 $254,860.91
245 $254,860.91 $2,039.94 $0.00 $1,441.02 $258,341.87
246 $258,341.87 $2,039.94 $0.00 $1,460.70 $261,842.51
247 $261,842.51 $2,039.94 $0.00 $1,480.50 $265,362.95
248 $265,362.95 $2,039.94 $0.00 $1,500.40 $268,903.29
249 $268,903.29 $2,039.94 $0.00 $1,520.42 $272,463.65
250 $272,463.65 $2,039.94 $0.00 $1,540.55 $276,044.14
251 $276,044.14 $2,039.94 $0.00 $1,560.79 $279,644.87
252 $279,644.87 $2,039.94 $0.00 $1,581.15 $283,265.96
253 $283,265.96 $0.00 $284,870.69 $1,601.63 -$3.10