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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$115,009
Monthly savings required$910

How much will it cost to send your child to Franklin College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $460,035.00 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $910.39 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$44,350.00
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 $910.39 $0.00 $0.00 $910.39
2 $910.39 $910.39 $0.00 $5.15 $1,825.93
3 $1,825.93 $910.39 $0.00 $10.32 $2,746.64
4 $2,746.64 $910.39 $0.00 $15.53 $3,672.56
5 $3,672.56 $910.39 $0.00 $20.77 $4,603.72
6 $4,603.72 $910.39 $0.00 $26.03 $5,540.14
7 $5,540.14 $910.39 $0.00 $31.32 $6,481.85
8 $6,481.85 $910.39 $0.00 $36.65 $7,428.89
9 $7,428.89 $910.39 $0.00 $42.00 $8,381.28
10 $8,381.28 $910.39 $0.00 $47.39 $9,339.06
11 $9,339.06 $910.39 $0.00 $52.80 $10,302.25
12 $10,302.25 $910.39 $0.00 $58.25 $11,270.89
13 $11,270.89 $910.39 $0.00 $63.73 $12,245.01
14 $12,245.01 $910.39 $0.00 $69.24 $13,224.64
15 $13,224.64 $910.39 $0.00 $74.77 $14,209.80
16 $14,209.80 $910.39 $0.00 $80.34 $15,200.53
17 $15,200.53 $910.39 $0.00 $85.95 $16,196.87
18 $16,196.87 $910.39 $0.00 $91.58 $17,198.84
19 $17,198.84 $910.39 $0.00 $97.24 $18,206.47
20 $18,206.47 $910.39 $0.00 $102.94 $19,219.80
21 $19,219.80 $910.39 $0.00 $108.67 $20,238.86
22 $20,238.86 $910.39 $0.00 $114.43 $21,263.68
23 $21,263.68 $910.39 $0.00 $120.23 $22,294.30
24 $22,294.30 $910.39 $0.00 $126.06 $23,330.75
25 $23,330.75 $910.39 $0.00 $131.92 $24,373.06
26 $24,373.06 $910.39 $0.00 $137.81 $25,421.26
27 $25,421.26 $910.39 $0.00 $143.74 $26,475.39
28 $26,475.39 $910.39 $0.00 $149.70 $27,535.48
29 $27,535.48 $910.39 $0.00 $155.69 $28,601.56
30 $28,601.56 $910.39 $0.00 $161.72 $29,673.67
31 $29,673.67 $910.39 $0.00 $167.78 $30,751.84
32 $30,751.84 $910.39 $0.00 $173.88 $31,836.11
33 $31,836.11 $910.39 $0.00 $180.01 $32,926.51
34 $32,926.51 $910.39 $0.00 $186.17 $34,023.07
35 $34,023.07 $910.39 $0.00 $192.37 $35,125.83
36 $35,125.83 $910.39 $0.00 $198.61 $36,234.83
37 $36,234.83 $910.39 $0.00 $204.88 $37,350.10
38 $37,350.10 $910.39 $0.00 $211.18 $38,471.67
39 $38,471.67 $910.39 $0.00 $217.52 $39,599.58
40 $39,599.58 $910.39 $0.00 $223.90 $40,733.87
41 $40,733.87 $910.39 $0.00 $230.32 $41,874.58
42 $41,874.58 $910.39 $0.00 $236.76 $43,021.73
43 $43,021.73 $910.39 $0.00 $243.25 $44,175.37
44 $44,175.37 $910.39 $0.00 $249.77 $45,335.53
45 $45,335.53 $910.39 $0.00 $256.33 $46,502.25
46 $46,502.25 $910.39 $0.00 $262.93 $47,675.57
47 $47,675.57 $910.39 $0.00 $269.56 $48,855.52
48 $48,855.52 $910.39 $0.00 $276.24 $50,042.15
49 $50,042.15 $910.39 $0.00 $282.95 $51,235.49
50 $51,235.49 $910.39 $0.00 $289.69 $52,435.57
51 $52,435.57 $910.39 $0.00 $296.48 $53,642.44
52 $53,642.44 $910.39 $0.00 $303.30 $54,856.13
53 $54,856.13 $910.39 $0.00 $310.16 $56,076.68
54 $56,076.68 $910.39 $0.00 $317.07 $57,304.14
55 $57,304.14 $910.39 $0.00 $324.01 $58,538.54
56 $58,538.54 $910.39 $0.00 $330.99 $59,779.92
57 $59,779.92 $910.39 $0.00 $338.00 $61,028.31
58 $61,028.31 $910.39 $0.00 $345.06 $62,283.76
59 $62,283.76 $910.39 $0.00 $352.16 $63,546.31
60 $63,546.31 $910.39 $0.00 $359.30 $64,816.00
61 $64,816.00 $910.39 $0.00 $366.48 $66,092.87
62 $66,092.87 $910.39 $0.00 $373.70 $67,376.96
63 $67,376.96 $910.39 $0.00 $380.96 $68,668.31
64 $68,668.31 $910.39 $0.00 $388.26 $69,966.96
65 $69,966.96 $910.39 $0.00 $395.60 $71,272.95
66 $71,272.95 $910.39 $0.00 $402.99 $72,586.33
67 $72,586.33 $910.39 $0.00 $410.41 $73,907.13
68 $73,907.13 $910.39 $0.00 $417.88 $75,235.40
69 $75,235.40 $910.39 $0.00 $425.39 $76,571.18
70 $76,571.18 $910.39 $0.00 $432.94 $77,914.51
71 $77,914.51 $910.39 $0.00 $440.54 $79,265.44
72 $79,265.44 $910.39 $0.00 $448.18 $80,624.01
73 $80,624.01 $910.39 $0.00 $455.86 $81,990.26
74 $81,990.26 $910.39 $0.00 $463.58 $83,364.23
75 $83,364.23 $910.39 $0.00 $471.35 $84,745.97
76 $84,745.97 $910.39 $0.00 $479.17 $86,135.53
77 $86,135.53 $910.39 $0.00 $487.02 $87,532.94
78 $87,532.94 $910.39 $0.00 $494.92 $88,938.25
79 $88,938.25 $910.39 $0.00 $502.87 $90,351.51
80 $90,351.51 $910.39 $0.00 $510.86 $91,772.76
81 $91,772.76 $910.39 $0.00 $518.90 $93,202.05
82 $93,202.05 $910.39 $0.00 $526.98 $94,639.42
83 $94,639.42 $910.39 $0.00 $535.11 $96,084.92
84 $96,084.92 $910.39 $0.00 $543.28 $97,538.59
85 $97,538.59 $910.39 $0.00 $551.50 $99,000.48
86 $99,000.48 $910.39 $0.00 $559.76 $100,470.63
87 $100,470.63 $910.39 $0.00 $568.08 $101,949.10
88 $101,949.10 $910.39 $0.00 $576.44 $103,435.93
89 $103,435.93 $910.39 $0.00 $584.84 $104,931.16
90 $104,931.16 $910.39 $0.00 $593.30 $106,434.85
91 $106,434.85 $910.39 $0.00 $601.80 $107,947.04
92 $107,947.04 $910.39 $0.00 $610.35 $109,467.78
93 $109,467.78 $910.39 $0.00 $618.95 $110,997.12
94 $110,997.12 $910.39 $0.00 $627.59 $112,535.10
95 $112,535.10 $910.39 $0.00 $636.29 $114,081.78
96 $114,081.78 $910.39 $0.00 $645.03 $115,637.20
97 $115,637.20 $910.39 $0.00 $653.83 $117,201.42
98 $117,201.42 $910.39 $0.00 $662.67 $118,774.48
99 $118,774.48 $910.39 $0.00 $671.57 $120,356.44
100 $120,356.44 $910.39 $0.00 $680.51 $121,947.34
101 $121,947.34 $910.39 $0.00 $689.51 $123,547.24
102 $123,547.24 $910.39 $0.00 $698.55 $125,156.18
103 $125,156.18 $910.39 $0.00 $707.65 $126,774.22
104 $126,774.22 $910.39 $0.00 $716.80 $128,401.41
105 $128,401.41 $910.39 $0.00 $726.00 $130,037.80
106 $130,037.80 $910.39 $0.00 $735.25 $131,683.44
107 $131,683.44 $910.39 $0.00 $744.56 $133,338.39
108 $133,338.39 $910.39 $0.00 $753.91 $135,002.69
109 $135,002.69 $910.39 $0.00 $763.32 $136,676.40
110 $136,676.40 $910.39 $0.00 $772.79 $138,359.58
111 $138,359.58 $910.39 $0.00 $782.31 $140,052.28
112 $140,052.28 $910.39 $0.00 $791.88 $141,754.55
113 $141,754.55 $910.39 $0.00 $801.50 $143,466.44
114 $143,466.44 $910.39 $0.00 $811.18 $145,188.01
115 $145,188.01 $910.39 $0.00 $820.91 $146,919.31
116 $146,919.31 $910.39 $0.00 $830.70 $148,660.40
117 $148,660.40 $910.39 $0.00 $840.55 $150,411.34
118 $150,411.34 $910.39 $0.00 $850.45 $152,172.18
119 $152,172.18 $910.39 $0.00 $860.40 $153,942.97
120 $153,942.97 $910.39 $0.00 $870.42 $155,723.78
121 $155,723.78 $910.39 $0.00 $880.48 $157,514.65
122 $157,514.65 $910.39 $0.00 $890.61 $159,315.65
123 $159,315.65 $910.39 $0.00 $900.79 $161,126.83
124 $161,126.83 $910.39 $0.00 $911.03 $162,948.25
125 $162,948.25 $910.39 $0.00 $921.33 $164,779.97
126 $164,779.97 $910.39 $0.00 $931.69 $166,622.05
127 $166,622.05 $910.39 $0.00 $942.11 $168,474.55
128 $168,474.55 $910.39 $0.00 $952.58 $170,337.52
129 $170,337.52 $910.39 $0.00 $963.11 $172,211.02
130 $172,211.02 $910.39 $0.00 $973.71 $174,095.12
131 $174,095.12 $910.39 $0.00 $984.36 $175,989.87
132 $175,989.87 $910.39 $0.00 $995.07 $177,895.33
133 $177,895.33 $910.39 $0.00 $1,005.85 $179,811.57
134 $179,811.57 $910.39 $0.00 $1,016.68 $181,738.64
135 $181,738.64 $910.39 $0.00 $1,027.58 $183,676.61
136 $183,676.61 $910.39 $0.00 $1,038.53 $185,625.53
137 $185,625.53 $910.39 $0.00 $1,049.55 $187,585.47
138 $187,585.47 $910.39 $0.00 $1,060.64 $189,556.50
139 $189,556.50 $910.39 $0.00 $1,071.78 $191,538.67
140 $191,538.67 $910.39 $0.00 $1,082.99 $193,532.05
141 $193,532.05 $910.39 $0.00 $1,094.26 $195,536.70
142 $195,536.70 $910.39 $0.00 $1,105.59 $197,552.68
143 $197,552.68 $910.39 $0.00 $1,116.99 $199,580.06
144 $199,580.06 $910.39 $0.00 $1,128.45 $201,618.90
145 $201,618.90 $910.39 $0.00 $1,139.98 $203,669.27
146 $203,669.27 $910.39 $0.00 $1,151.58 $205,731.24
147 $205,731.24 $910.39 $0.00 $1,163.23 $207,804.86
148 $207,804.86 $910.39 $0.00 $1,174.96 $209,890.21
149 $209,890.21 $910.39 $0.00 $1,186.75 $211,987.35
150 $211,987.35 $910.39 $0.00 $1,198.61 $214,096.35
151 $214,096.35 $910.39 $0.00 $1,210.53 $216,217.27
152 $216,217.27 $910.39 $0.00 $1,222.52 $218,350.18
153 $218,350.18 $910.39 $0.00 $1,234.58 $220,495.15
154 $220,495.15 $910.39 $0.00 $1,246.71 $222,652.25
155 $222,652.25 $910.39 $0.00 $1,258.91 $224,821.55
156 $224,821.55 $910.39 $0.00 $1,271.17 $227,003.11
157 $227,003.11 $910.39 $0.00 $1,283.51 $229,197.01
158 $229,197.01 $910.39 $0.00 $1,295.91 $231,403.31
159 $231,403.31 $910.39 $0.00 $1,308.39 $233,622.09
160 $233,622.09 $910.39 $0.00 $1,320.93 $235,853.41
161 $235,853.41 $910.39 $0.00 $1,333.55 $238,097.35
162 $238,097.35 $910.39 $0.00 $1,346.24 $240,353.98
163 $240,353.98 $910.39 $0.00 $1,359.00 $242,623.37
164 $242,623.37 $910.39 $0.00 $1,371.83 $244,905.59
165 $244,905.59 $910.39 $0.00 $1,384.73 $247,200.71
166 $247,200.71 $910.39 $0.00 $1,397.71 $249,508.81
167 $249,508.81 $910.39 $0.00 $1,410.76 $251,829.96
168 $251,829.96 $910.39 $0.00 $1,423.88 $254,164.23
169 $254,164.23 $910.39 $0.00 $1,437.08 $256,511.70
170 $256,511.70 $910.39 $0.00 $1,450.35 $258,872.44
171 $258,872.44 $910.39 $0.00 $1,463.70 $261,246.53
172 $261,246.53 $910.39 $0.00 $1,477.13 $263,634.05
173 $263,634.05 $910.39 $0.00 $1,490.63 $266,035.07
174 $266,035.07 $910.39 $0.00 $1,504.20 $268,449.66
175 $268,449.66 $910.39 $0.00 $1,517.85 $270,877.90
176 $270,877.90 $910.39 $0.00 $1,531.58 $273,319.87
177 $273,319.87 $910.39 $0.00 $1,545.39 $275,775.65
178 $275,775.65 $910.39 $0.00 $1,559.28 $278,245.32
179 $278,245.32 $910.39 $0.00 $1,573.24 $280,728.95
180 $280,728.95 $910.39 $0.00 $1,587.28 $283,226.62
181 $283,226.62 $910.39 $0.00 $1,601.40 $285,738.41
182 $285,738.41 $910.39 $0.00 $1,615.61 $288,264.41
183 $288,264.41 $910.39 $0.00 $1,629.89 $290,804.69
184 $290,804.69 $910.39 $0.00 $1,644.25 $293,359.33
185 $293,359.33 $910.39 $0.00 $1,658.70 $295,928.42
186 $295,928.42 $910.39 $0.00 $1,673.22 $298,512.03
187 $298,512.03 $910.39 $0.00 $1,687.83 $301,110.25
188 $301,110.25 $910.39 $0.00 $1,702.52 $303,723.16
189 $303,723.16 $910.39 $0.00 $1,717.29 $306,350.84
190 $306,350.84 $910.39 $0.00 $1,732.15 $308,993.38
191 $308,993.38 $910.39 $0.00 $1,747.09 $311,650.86
192 $311,650.86 $910.39 $0.00 $1,762.12 $314,323.37
193 $314,323.37 $910.39 $0.00 $1,777.23 $317,010.99
194 $317,010.99 $910.39 $0.00 $1,792.43 $319,713.81
195 $319,713.81 $910.39 $0.00 $1,807.71 $322,431.91
196 $322,431.91 $910.39 $0.00 $1,823.08 $325,165.38
197 $325,165.38 $910.39 $0.00 $1,838.53 $327,914.30
198 $327,914.30 $910.39 $0.00 $1,854.08 $330,678.77
199 $330,678.77 $910.39 $0.00 $1,869.71 $333,458.87
200 $333,458.87 $910.39 $0.00 $1,885.42 $336,254.68
201 $336,254.68 $910.39 $0.00 $1,901.23 $339,066.30
202 $339,066.30 $910.39 $0.00 $1,917.13 $341,893.82
203 $341,893.82 $910.39 $0.00 $1,933.12 $344,737.33
204 $344,737.33 $910.39 $0.00 $1,949.19 $347,596.91
205 $347,596.91 $910.39 $0.00 $1,965.36 $350,472.66
206 $350,472.66 $910.39 $0.00 $1,981.62 $353,364.67
207 $353,364.67 $910.39 $0.00 $1,997.98 $356,273.04
208 $356,273.04 $910.39 $0.00 $2,014.42 $359,197.85
209 $359,197.85 $910.39 $0.00 $2,030.96 $362,139.20
210 $362,139.20 $910.39 $0.00 $2,047.59 $365,097.18
211 $365,097.18 $910.39 $0.00 $2,064.31 $368,071.88
212 $368,071.88 $910.39 $0.00 $2,081.13 $371,063.40
213 $371,063.40 $910.39 $0.00 $2,098.05 $374,071.84
214 $374,071.84 $910.39 $0.00 $2,115.06 $377,097.29
215 $377,097.29 $910.39 $0.00 $2,132.16 $380,139.84
216 $380,139.84 $910.39 $0.00 $2,149.37 $383,199.60
217 $383,199.60 $910.39 $106,733.56 $2,166.67 $279,543.10
218 $279,543.10 $910.39 $0.00 $1,580.58 $282,034.07
219 $282,034.07 $910.39 $0.00 $1,594.66 $284,539.12
220 $284,539.12 $910.39 $0.00 $1,608.83 $287,058.34
221 $287,058.34 $910.39 $0.00 $1,623.07 $289,591.80
222 $289,591.80 $910.39 $0.00 $1,637.39 $292,139.58
223 $292,139.58 $910.39 $0.00 $1,651.80 $294,701.77
224 $294,701.77 $910.39 $0.00 $1,666.29 $297,278.45
225 $297,278.45 $910.39 $0.00 $1,680.86 $299,869.70
226 $299,869.70 $910.39 $0.00 $1,695.51 $302,475.60
227 $302,475.60 $910.39 $0.00 $1,710.24 $305,096.23
228 $305,096.23 $910.39 $0.00 $1,725.06 $307,731.68
229 $307,731.68 $910.39 $112,070.24 $1,739.96 $198,311.79
230 $198,311.79 $910.39 $0.00 $1,121.28 $200,343.46
231 $200,343.46 $910.39 $0.00 $1,132.77 $202,386.62
232 $202,386.62 $910.39 $0.00 $1,144.32 $204,441.33
233 $204,441.33 $910.39 $0.00 $1,155.94 $206,507.66
234 $206,507.66 $910.39 $0.00 $1,167.62 $208,585.67
235 $208,585.67 $910.39 $0.00 $1,179.37 $210,675.43
236 $210,675.43 $910.39 $0.00 $1,191.19 $212,777.01
237 $212,777.01 $910.39 $0.00 $1,203.07 $214,890.47
238 $214,890.47 $910.39 $0.00 $1,215.02 $217,015.88
239 $217,015.88 $910.39 $0.00 $1,227.04 $219,153.31
240 $219,153.31 $910.39 $0.00 $1,239.12 $221,302.82
241 $221,302.82 $910.39 $117,673.75 $1,251.28 $105,790.74
242 $105,790.74 $910.39 $0.00 $598.16 $107,299.29
243 $107,299.29 $910.39 $0.00 $606.69 $108,816.37
244 $108,816.37 $910.39 $0.00 $615.26 $110,342.02
245 $110,342.02 $910.39 $0.00 $623.89 $111,876.30
246 $111,876.30 $910.39 $0.00 $632.56 $113,419.25
247 $113,419.25 $910.39 $0.00 $641.29 $114,970.93
248 $114,970.93 $910.39 $0.00 $650.06 $116,531.38
249 $116,531.38 $910.39 $0.00 $658.89 $118,100.66
250 $118,100.66 $910.39 $0.00 $667.76 $119,678.81
251 $119,678.81 $910.39 $0.00 $676.68 $121,265.88
252 $121,265.88 $910.39 $0.00 $685.65 $122,861.92
253 $122,861.92 $0.00 $123,557.44 $694.68 ($0.84)