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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$76,577
Monthly savings required$606

How much will it cost to send your child to University of Kentucky in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $306,309.66 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $606.17 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$29,530.00
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 $606.17 $0.00 $0.00 $606.17
2 $606.17 $606.17 $0.00 $3.43 $1,215.77
3 $1,215.77 $606.17 $0.00 $6.87 $1,828.81
4 $1,828.81 $606.17 $0.00 $10.34 $2,445.32
5 $2,445.32 $606.17 $0.00 $13.83 $3,065.32
6 $3,065.32 $606.17 $0.00 $17.33 $3,688.82
7 $3,688.82 $606.17 $0.00 $20.86 $4,315.85
8 $4,315.85 $606.17 $0.00 $24.40 $4,946.42
9 $4,946.42 $606.17 $0.00 $27.97 $5,580.56
10 $5,580.56 $606.17 $0.00 $31.55 $6,218.28
11 $6,218.28 $606.17 $0.00 $35.16 $6,859.61
12 $6,859.61 $606.17 $0.00 $38.79 $7,504.57
13 $7,504.57 $606.17 $0.00 $42.43 $8,153.17
14 $8,153.17 $606.17 $0.00 $46.10 $8,805.44
15 $8,805.44 $606.17 $0.00 $49.79 $9,461.40
16 $9,461.40 $606.17 $0.00 $53.50 $10,121.07
17 $10,121.07 $606.17 $0.00 $57.23 $10,784.47
18 $10,784.47 $606.17 $0.00 $60.98 $11,451.62
19 $11,451.62 $606.17 $0.00 $64.75 $12,122.54
20 $12,122.54 $606.17 $0.00 $68.54 $12,797.25
21 $12,797.25 $606.17 $0.00 $72.36 $13,475.78
22 $13,475.78 $606.17 $0.00 $76.19 $14,158.14
23 $14,158.14 $606.17 $0.00 $80.05 $14,844.36
24 $14,844.36 $606.17 $0.00 $83.93 $15,534.46
25 $15,534.46 $606.17 $0.00 $87.83 $16,228.46
26 $16,228.46 $606.17 $0.00 $91.76 $16,926.39
27 $16,926.39 $606.17 $0.00 $95.70 $17,628.26
28 $17,628.26 $606.17 $0.00 $99.67 $18,334.10
29 $18,334.10 $606.17 $0.00 $103.66 $19,043.93
30 $19,043.93 $606.17 $0.00 $107.68 $19,757.78
31 $19,757.78 $606.17 $0.00 $111.71 $20,475.66
32 $20,475.66 $606.17 $0.00 $115.77 $21,197.60
33 $21,197.60 $606.17 $0.00 $119.85 $21,923.62
34 $21,923.62 $606.17 $0.00 $123.96 $22,653.75
35 $22,653.75 $606.17 $0.00 $128.09 $23,388.01
36 $23,388.01 $606.17 $0.00 $132.24 $24,126.42
37 $24,126.42 $606.17 $0.00 $136.41 $24,869.00
38 $24,869.00 $606.17 $0.00 $140.61 $25,615.78
39 $25,615.78 $606.17 $0.00 $144.84 $26,366.79
40 $26,366.79 $606.17 $0.00 $149.08 $27,122.04
41 $27,122.04 $606.17 $0.00 $153.35 $27,881.56
42 $27,881.56 $606.17 $0.00 $157.65 $28,645.38
43 $28,645.38 $606.17 $0.00 $161.97 $29,413.52
44 $29,413.52 $606.17 $0.00 $166.31 $30,186.00
45 $30,186.00 $606.17 $0.00 $170.68 $30,962.85
46 $30,962.85 $606.17 $0.00 $175.07 $31,744.09
47 $31,744.09 $606.17 $0.00 $179.49 $32,529.75
48 $32,529.75 $606.17 $0.00 $183.93 $33,319.85
49 $33,319.85 $606.17 $0.00 $188.40 $34,114.42
50 $34,114.42 $606.17 $0.00 $192.89 $34,913.48
51 $34,913.48 $606.17 $0.00 $197.41 $35,717.06
52 $35,717.06 $606.17 $0.00 $201.95 $36,525.18
53 $36,525.18 $606.17 $0.00 $206.52 $37,337.87
54 $37,337.87 $606.17 $0.00 $211.11 $38,155.15
55 $38,155.15 $606.17 $0.00 $215.73 $38,977.05
56 $38,977.05 $606.17 $0.00 $220.38 $39,803.60
57 $39,803.60 $606.17 $0.00 $225.06 $40,634.83
58 $40,634.83 $606.17 $0.00 $229.76 $41,470.76
59 $41,470.76 $606.17 $0.00 $234.48 $42,311.41
60 $42,311.41 $606.17 $0.00 $239.23 $43,156.81
61 $43,156.81 $606.17 $0.00 $244.01 $44,006.99
62 $44,006.99 $606.17 $0.00 $248.82 $44,861.98
63 $44,861.98 $606.17 $0.00 $253.66 $45,721.81
64 $45,721.81 $606.17 $0.00 $258.52 $46,586.50
65 $46,586.50 $606.17 $0.00 $263.41 $47,456.08
66 $47,456.08 $606.17 $0.00 $268.32 $48,330.57
67 $48,330.57 $606.17 $0.00 $273.27 $49,210.01
68 $49,210.01 $606.17 $0.00 $278.24 $50,094.42
69 $50,094.42 $606.17 $0.00 $283.24 $50,983.83
70 $50,983.83 $606.17 $0.00 $288.27 $51,878.27
71 $51,878.27 $606.17 $0.00 $293.33 $52,777.77
72 $52,777.77 $606.17 $0.00 $298.41 $53,682.35
73 $53,682.35 $606.17 $0.00 $303.53 $54,592.05
74 $54,592.05 $606.17 $0.00 $308.67 $55,506.89
75 $55,506.89 $606.17 $0.00 $313.84 $56,426.90
76 $56,426.90 $606.17 $0.00 $319.05 $57,352.12
77 $57,352.12 $606.17 $0.00 $324.28 $58,282.57
78 $58,282.57 $606.17 $0.00 $329.54 $59,218.28
79 $59,218.28 $606.17 $0.00 $334.83 $60,159.28
80 $60,159.28 $606.17 $0.00 $340.15 $61,105.60
81 $61,105.60 $606.17 $0.00 $345.50 $62,057.27
82 $62,057.27 $606.17 $0.00 $350.88 $63,014.32
83 $63,014.32 $606.17 $0.00 $356.29 $63,976.78
84 $63,976.78 $606.17 $0.00 $361.73 $64,944.68
85 $64,944.68 $606.17 $0.00 $367.21 $65,918.06
86 $65,918.06 $606.17 $0.00 $372.71 $66,896.94
87 $66,896.94 $606.17 $0.00 $378.25 $67,881.36
88 $67,881.36 $606.17 $0.00 $383.81 $68,871.34
89 $68,871.34 $606.17 $0.00 $389.41 $69,866.92
90 $69,866.92 $606.17 $0.00 $395.04 $70,868.13
91 $70,868.13 $606.17 $0.00 $400.70 $71,875.00
92 $71,875.00 $606.17 $0.00 $406.39 $72,887.56
93 $72,887.56 $606.17 $0.00 $412.12 $73,905.85
94 $73,905.85 $606.17 $0.00 $417.87 $74,929.89
95 $74,929.89 $606.17 $0.00 $423.66 $75,959.72
96 $75,959.72 $606.17 $0.00 $429.49 $76,995.38
97 $76,995.38 $606.17 $0.00 $435.34 $78,036.89
98 $78,036.89 $606.17 $0.00 $441.23 $79,084.29
99 $79,084.29 $606.17 $0.00 $447.15 $80,137.61
100 $80,137.61 $606.17 $0.00 $453.11 $81,196.89
101 $81,196.89 $606.17 $0.00 $459.10 $82,262.16
102 $82,262.16 $606.17 $0.00 $465.12 $83,333.45
103 $83,333.45 $606.17 $0.00 $471.18 $84,410.80
104 $84,410.80 $606.17 $0.00 $477.27 $85,494.24
105 $85,494.24 $606.17 $0.00 $483.40 $86,583.81
106 $86,583.81 $606.17 $0.00 $489.56 $87,679.54
107 $87,679.54 $606.17 $0.00 $495.75 $88,781.46
108 $88,781.46 $606.17 $0.00 $501.98 $89,889.61
109 $89,889.61 $606.17 $0.00 $508.25 $91,004.03
110 $91,004.03 $606.17 $0.00 $514.55 $92,124.75
111 $92,124.75 $606.17 $0.00 $520.89 $93,251.81
112 $93,251.81 $606.17 $0.00 $527.26 $94,385.24
113 $94,385.24 $606.17 $0.00 $533.67 $95,525.08
114 $95,525.08 $606.17 $0.00 $540.11 $96,671.36
115 $96,671.36 $606.17 $0.00 $546.59 $97,824.12
116 $97,824.12 $606.17 $0.00 $553.11 $98,983.40
117 $98,983.40 $606.17 $0.00 $559.67 $100,149.24
118 $100,149.24 $606.17 $0.00 $566.26 $101,321.67
119 $101,321.67 $606.17 $0.00 $572.89 $102,500.73
120 $102,500.73 $606.17 $0.00 $579.55 $103,686.45
121 $103,686.45 $606.17 $0.00 $586.26 $104,878.88
122 $104,878.88 $606.17 $0.00 $593.00 $106,078.05
123 $106,078.05 $606.17 $0.00 $599.78 $107,284.00
124 $107,284.00 $606.17 $0.00 $606.60 $108,496.77
125 $108,496.77 $606.17 $0.00 $613.46 $109,716.40
126 $109,716.40 $606.17 $0.00 $620.35 $110,942.92
127 $110,942.92 $606.17 $0.00 $627.29 $112,176.38
128 $112,176.38 $606.17 $0.00 $634.26 $113,416.81
129 $113,416.81 $606.17 $0.00 $641.28 $114,664.26
130 $114,664.26 $606.17 $0.00 $648.33 $115,918.76
131 $115,918.76 $606.17 $0.00 $655.42 $117,180.35
132 $117,180.35 $606.17 $0.00 $662.55 $118,449.07
133 $118,449.07 $606.17 $0.00 $669.73 $119,724.97
134 $119,724.97 $606.17 $0.00 $676.94 $121,008.08
135 $121,008.08 $606.17 $0.00 $684.20 $122,298.45
136 $122,298.45 $606.17 $0.00 $691.49 $123,596.11
137 $123,596.11 $606.17 $0.00 $698.83 $124,901.11
138 $124,901.11 $606.17 $0.00 $706.21 $126,213.49
139 $126,213.49 $606.17 $0.00 $713.63 $127,533.29
140 $127,533.29 $606.17 $0.00 $721.09 $128,860.55
141 $128,860.55 $606.17 $0.00 $728.60 $130,195.32
142 $130,195.32 $606.17 $0.00 $736.14 $131,537.63
143 $131,537.63 $606.17 $0.00 $743.73 $132,887.53
144 $132,887.53 $606.17 $0.00 $751.37 $134,245.07
145 $134,245.07 $606.17 $0.00 $759.04 $135,610.28
146 $135,610.28 $606.17 $0.00 $766.76 $136,983.21
147 $136,983.21 $606.17 $0.00 $774.52 $138,363.90
148 $138,363.90 $606.17 $0.00 $782.33 $139,752.40
149 $139,752.40 $606.17 $0.00 $790.18 $141,148.75
150 $141,148.75 $606.17 $0.00 $798.08 $142,553.00
151 $142,553.00 $606.17 $0.00 $806.02 $143,965.19
152 $143,965.19 $606.17 $0.00 $814.00 $145,385.36
153 $145,385.36 $606.17 $0.00 $822.03 $146,813.56
154 $146,813.56 $606.17 $0.00 $830.11 $148,249.84
155 $148,249.84 $606.17 $0.00 $838.23 $149,694.24
156 $149,694.24 $606.17 $0.00 $846.39 $151,146.80
157 $151,146.80 $606.17 $0.00 $854.61 $152,607.58
158 $152,607.58 $606.17 $0.00 $862.87 $154,076.62
159 $154,076.62 $606.17 $0.00 $871.17 $155,553.96
160 $155,553.96 $606.17 $0.00 $879.52 $157,039.65
161 $157,039.65 $606.17 $0.00 $887.93 $158,533.75
162 $158,533.75 $606.17 $0.00 $896.37 $160,036.29
163 $160,036.29 $606.17 $0.00 $904.87 $161,547.33
164 $161,547.33 $606.17 $0.00 $913.41 $163,066.91
165 $163,066.91 $606.17 $0.00 $922.00 $164,595.08
166 $164,595.08 $606.17 $0.00 $930.64 $166,131.89
167 $166,131.89 $606.17 $0.00 $939.33 $167,677.39
168 $167,677.39 $606.17 $0.00 $948.07 $169,231.63
169 $169,231.63 $606.17 $0.00 $956.86 $170,794.66
170 $170,794.66 $606.17 $0.00 $965.70 $172,366.53
171 $172,366.53 $606.17 $0.00 $974.59 $173,947.29
172 $173,947.29 $606.17 $0.00 $983.52 $175,536.98
173 $175,536.98 $606.17 $0.00 $992.51 $177,135.66
174 $177,135.66 $606.17 $0.00 $1,001.55 $178,743.38
175 $178,743.38 $606.17 $0.00 $1,010.64 $180,360.19
176 $180,360.19 $606.17 $0.00 $1,019.78 $181,986.14
177 $181,986.14 $606.17 $0.00 $1,028.98 $183,621.29
178 $183,621.29 $606.17 $0.00 $1,038.22 $185,265.68
179 $185,265.68 $606.17 $0.00 $1,047.52 $186,919.37
180 $186,919.37 $606.17 $0.00 $1,056.87 $188,582.41
181 $188,582.41 $606.17 $0.00 $1,066.27 $190,254.85
182 $190,254.85 $606.17 $0.00 $1,075.73 $191,936.75
183 $191,936.75 $606.17 $0.00 $1,085.24 $193,628.16
184 $193,628.16 $606.17 $0.00 $1,094.80 $195,329.13
185 $195,329.13 $606.17 $0.00 $1,104.42 $197,039.72
186 $197,039.72 $606.17 $0.00 $1,114.09 $198,759.98
187 $198,759.98 $606.17 $0.00 $1,123.82 $200,489.97
188 $200,489.97 $606.17 $0.00 $1,133.60 $202,229.74
189 $202,229.74 $606.17 $0.00 $1,143.44 $203,979.35
190 $203,979.35 $606.17 $0.00 $1,153.33 $205,738.85
191 $205,738.85 $606.17 $0.00 $1,163.28 $207,508.30
192 $207,508.30 $606.17 $0.00 $1,173.28 $209,287.75
193 $209,287.75 $606.17 $0.00 $1,183.34 $211,077.26
194 $211,077.26 $606.17 $0.00 $1,193.46 $212,876.89
195 $212,876.89 $606.17 $0.00 $1,203.64 $214,686.70
196 $214,686.70 $606.17 $0.00 $1,213.87 $216,506.74
197 $216,506.74 $606.17 $0.00 $1,224.16 $218,337.07
198 $218,337.07 $606.17 $0.00 $1,234.51 $220,177.75
199 $220,177.75 $606.17 $0.00 $1,244.92 $222,028.84
200 $222,028.84 $606.17 $0.00 $1,255.38 $223,890.39
201 $223,890.39 $606.17 $0.00 $1,265.91 $225,762.47
202 $225,762.47 $606.17 $0.00 $1,276.49 $227,645.13
203 $227,645.13 $606.17 $0.00 $1,287.14 $229,538.44
204 $229,538.44 $606.17 $0.00 $1,297.84 $231,442.45
205 $231,442.45 $606.17 $0.00 $1,308.61 $233,357.23
206 $233,357.23 $606.17 $0.00 $1,319.44 $235,282.84
207 $235,282.84 $606.17 $0.00 $1,330.32 $237,219.33
208 $237,219.33 $606.17 $0.00 $1,341.27 $239,166.77
209 $239,166.77 $606.17 $0.00 $1,352.28 $241,125.22
210 $241,125.22 $606.17 $0.00 $1,363.36 $243,094.75
211 $243,094.75 $606.17 $0.00 $1,374.49 $245,075.41
212 $245,075.41 $606.17 $0.00 $1,385.69 $247,067.27
213 $247,067.27 $606.17 $0.00 $1,396.95 $249,070.39
214 $249,070.39 $606.17 $0.00 $1,408.28 $251,084.84
215 $251,084.84 $606.17 $0.00 $1,419.67 $253,110.68
216 $253,110.68 $606.17 $0.00 $1,431.12 $255,147.97
217 $255,147.97 $606.17 $71,067.47 $1,442.64 $186,129.31
218 $186,129.31 $606.17 $0.00 $1,052.40 $187,787.88
219 $187,787.88 $606.17 $0.00 $1,061.78 $189,455.83
220 $189,455.83 $606.17 $0.00 $1,071.21 $191,133.21
221 $191,133.21 $606.17 $0.00 $1,080.69 $192,820.07
222 $192,820.07 $606.17 $0.00 $1,090.23 $194,516.47
223 $194,516.47 $606.17 $0.00 $1,099.82 $196,222.46
224 $196,222.46 $606.17 $0.00 $1,109.47 $197,938.10
225 $197,938.10 $606.17 $0.00 $1,119.17 $199,663.44
226 $199,663.44 $606.17 $0.00 $1,128.93 $201,398.54
227 $201,398.54 $606.17 $0.00 $1,138.74 $203,143.45
228 $203,143.45 $606.17 $0.00 $1,148.60 $204,898.22
229 $204,898.22 $606.17 $74,620.84 $1,158.52 $132,042.07
230 $132,042.07 $606.17 $0.00 $746.59 $133,394.83
231 $133,394.83 $606.17 $0.00 $754.23 $134,755.23
232 $134,755.23 $606.17 $0.00 $761.93 $136,123.33
233 $136,123.33 $606.17 $0.00 $769.66 $137,499.16
234 $137,499.16 $606.17 $0.00 $777.44 $138,882.77
235 $138,882.77 $606.17 $0.00 $785.26 $140,274.20
236 $140,274.20 $606.17 $0.00 $793.13 $141,673.50
237 $141,673.50 $606.17 $0.00 $801.04 $143,080.71
238 $143,080.71 $606.17 $0.00 $809.00 $144,495.88
239 $144,495.88 $606.17 $0.00 $817.00 $145,919.05
240 $145,919.05 $606.17 $0.00 $825.05 $147,350.27
241 $147,350.27 $606.17 $78,351.88 $833.14 $70,437.70
242 $70,437.70 $606.17 $0.00 $398.26 $71,442.13
243 $71,442.13 $606.17 $0.00 $403.94 $72,452.24
244 $72,452.24 $606.17 $0.00 $409.66 $73,468.07
245 $73,468.07 $606.17 $0.00 $415.40 $74,489.64
246 $74,489.64 $606.17 $0.00 $421.18 $75,516.99
247 $75,516.99 $606.17 $0.00 $426.98 $76,550.14
248 $76,550.14 $606.17 $0.00 $432.83 $77,589.14
249 $77,589.14 $606.17 $0.00 $438.70 $78,634.01
250 $78,634.01 $606.17 $0.00 $444.61 $79,684.79
251 $79,684.79 $606.17 $0.00 $450.55 $80,741.51
252 $80,741.51 $606.17 $0.00 $456.52 $81,804.20
253 $81,804.20 $0.00 $82,269.48 $462.53 ($2.75)