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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$61,480
Monthly savings required$487

How much will it cost to send your child to Oregon Institute of Technology in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $245,919.05 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $486.66 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$23,708.00
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 $486.66 $0.00 $0.00 $486.66
2 $486.66 $486.66 $0.00 $2.75 $976.07
3 $976.07 $486.66 $0.00 $5.52 $1,468.25
4 $1,468.25 $486.66 $0.00 $8.30 $1,963.21
5 $1,963.21 $486.66 $0.00 $11.10 $2,460.97
6 $2,460.97 $486.66 $0.00 $13.91 $2,961.54
7 $2,961.54 $486.66 $0.00 $16.74 $3,464.94
8 $3,464.94 $486.66 $0.00 $19.59 $3,971.19
9 $3,971.19 $486.66 $0.00 $22.45 $4,480.30
10 $4,480.30 $486.66 $0.00 $25.33 $4,992.29
11 $4,992.29 $486.66 $0.00 $28.23 $5,507.18
12 $5,507.18 $486.66 $0.00 $31.14 $6,024.98
13 $6,024.98 $486.66 $0.00 $34.07 $6,545.71
14 $6,545.71 $486.66 $0.00 $37.01 $7,069.38
15 $7,069.38 $486.66 $0.00 $39.97 $7,596.01
16 $7,596.01 $486.66 $0.00 $42.95 $8,125.62
17 $8,125.62 $486.66 $0.00 $45.94 $8,658.22
18 $8,658.22 $486.66 $0.00 $48.95 $9,193.83
19 $9,193.83 $486.66 $0.00 $51.98 $9,732.47
20 $9,732.47 $486.66 $0.00 $55.03 $10,274.16
21 $10,274.16 $486.66 $0.00 $58.09 $10,818.91
22 $10,818.91 $486.66 $0.00 $61.17 $11,366.74
23 $11,366.74 $486.66 $0.00 $64.27 $11,917.67
24 $11,917.67 $486.66 $0.00 $67.38 $12,471.71
25 $12,471.71 $486.66 $0.00 $70.52 $13,028.89
26 $13,028.89 $486.66 $0.00 $73.67 $13,589.22
27 $13,589.22 $486.66 $0.00 $76.84 $14,152.72
28 $14,152.72 $486.66 $0.00 $80.02 $14,719.40
29 $14,719.40 $486.66 $0.00 $83.23 $15,289.29
30 $15,289.29 $486.66 $0.00 $86.45 $15,862.40
31 $15,862.40 $486.66 $0.00 $89.69 $16,438.75
32 $16,438.75 $486.66 $0.00 $92.95 $17,018.36
33 $17,018.36 $486.66 $0.00 $96.22 $17,601.24
34 $17,601.24 $486.66 $0.00 $99.52 $18,187.42
35 $18,187.42 $486.66 $0.00 $102.83 $18,776.91
36 $18,776.91 $486.66 $0.00 $106.17 $19,369.74
37 $19,369.74 $486.66 $0.00 $109.52 $19,965.92
38 $19,965.92 $486.66 $0.00 $112.89 $20,565.47
39 $20,565.47 $486.66 $0.00 $116.28 $21,168.41
40 $21,168.41 $486.66 $0.00 $119.69 $21,774.76
41 $21,774.76 $486.66 $0.00 $123.12 $22,384.54
42 $22,384.54 $486.66 $0.00 $126.57 $22,997.77
43 $22,997.77 $486.66 $0.00 $130.03 $23,614.46
44 $23,614.46 $486.66 $0.00 $133.52 $24,234.64
45 $24,234.64 $486.66 $0.00 $137.03 $24,858.33
46 $24,858.33 $486.66 $0.00 $140.55 $25,485.54
47 $25,485.54 $486.66 $0.00 $144.10 $26,116.30
48 $26,116.30 $486.66 $0.00 $147.67 $26,750.63
49 $26,750.63 $486.66 $0.00 $151.25 $27,388.54
50 $27,388.54 $486.66 $0.00 $154.86 $28,030.06
51 $28,030.06 $486.66 $0.00 $158.49 $28,675.21
52 $28,675.21 $486.66 $0.00 $162.13 $29,324.00
53 $29,324.00 $486.66 $0.00 $165.80 $29,976.46
54 $29,976.46 $486.66 $0.00 $169.49 $30,632.61
55 $30,632.61 $486.66 $0.00 $173.20 $31,292.47
56 $31,292.47 $486.66 $0.00 $176.93 $31,956.06
57 $31,956.06 $486.66 $0.00 $180.68 $32,623.40
58 $32,623.40 $486.66 $0.00 $184.46 $33,294.52
59 $33,294.52 $486.66 $0.00 $188.25 $33,969.43
60 $33,969.43 $486.66 $0.00 $192.07 $34,648.16
61 $34,648.16 $486.66 $0.00 $195.91 $35,330.73
62 $35,330.73 $486.66 $0.00 $199.77 $36,017.16
63 $36,017.16 $486.66 $0.00 $203.65 $36,707.47
64 $36,707.47 $486.66 $0.00 $207.55 $37,401.68
65 $37,401.68 $486.66 $0.00 $211.47 $38,099.81
66 $38,099.81 $486.66 $0.00 $215.42 $38,801.89
67 $38,801.89 $486.66 $0.00 $219.39 $39,507.94
68 $39,507.94 $486.66 $0.00 $223.38 $40,217.98
69 $40,217.98 $486.66 $0.00 $227.40 $40,932.04
70 $40,932.04 $486.66 $0.00 $231.44 $41,650.14
71 $41,650.14 $486.66 $0.00 $235.50 $42,372.30
72 $42,372.30 $486.66 $0.00 $239.58 $43,098.54
73 $43,098.54 $486.66 $0.00 $243.69 $43,828.89
74 $43,828.89 $486.66 $0.00 $247.81 $44,563.36
75 $44,563.36 $486.66 $0.00 $251.97 $45,301.99
76 $45,301.99 $486.66 $0.00 $256.14 $46,044.79
77 $46,044.79 $486.66 $0.00 $260.34 $46,791.79
78 $46,791.79 $486.66 $0.00 $264.57 $47,543.02
79 $47,543.02 $486.66 $0.00 $268.82 $48,298.50
80 $48,298.50 $486.66 $0.00 $273.09 $49,058.25
81 $49,058.25 $486.66 $0.00 $277.38 $49,822.29
82 $49,822.29 $486.66 $0.00 $281.70 $50,590.65
83 $50,590.65 $486.66 $0.00 $286.05 $51,363.36
84 $51,363.36 $486.66 $0.00 $290.42 $52,140.44
85 $52,140.44 $486.66 $0.00 $294.81 $52,921.91
86 $52,921.91 $486.66 $0.00 $299.23 $53,707.80
87 $53,707.80 $486.66 $0.00 $303.67 $54,498.13
88 $54,498.13 $486.66 $0.00 $308.14 $55,292.93
89 $55,292.93 $486.66 $0.00 $312.63 $56,092.22
90 $56,092.22 $486.66 $0.00 $317.15 $56,896.03
91 $56,896.03 $486.66 $0.00 $321.70 $57,704.39
92 $57,704.39 $486.66 $0.00 $326.27 $58,517.32
93 $58,517.32 $486.66 $0.00 $330.87 $59,334.85
94 $59,334.85 $486.66 $0.00 $335.49 $60,157.00
95 $60,157.00 $486.66 $0.00 $340.14 $60,983.80
96 $60,983.80 $486.66 $0.00 $344.81 $61,815.27
97 $61,815.27 $486.66 $0.00 $349.51 $62,651.44
98 $62,651.44 $486.66 $0.00 $354.24 $63,492.34
99 $63,492.34 $486.66 $0.00 $358.99 $64,337.99
100 $64,337.99 $486.66 $0.00 $363.78 $65,188.43
101 $65,188.43 $486.66 $0.00 $368.58 $66,043.67
102 $66,043.67 $486.66 $0.00 $373.42 $66,903.75
103 $66,903.75 $486.66 $0.00 $378.28 $67,768.69
104 $67,768.69 $486.66 $0.00 $383.17 $68,638.52
105 $68,638.52 $486.66 $0.00 $388.09 $69,513.27
106 $69,513.27 $486.66 $0.00 $393.04 $70,392.97
107 $70,392.97 $486.66 $0.00 $398.01 $71,277.64
108 $71,277.64 $486.66 $0.00 $403.01 $72,167.31
109 $72,167.31 $486.66 $0.00 $408.04 $73,062.01
110 $73,062.01 $486.66 $0.00 $413.10 $73,961.77
111 $73,961.77 $486.66 $0.00 $418.19 $74,866.62
112 $74,866.62 $486.66 $0.00 $423.31 $75,776.59
113 $75,776.59 $486.66 $0.00 $428.45 $76,691.70
114 $76,691.70 $486.66 $0.00 $433.63 $77,611.99
115 $77,611.99 $486.66 $0.00 $438.83 $78,537.48
116 $78,537.48 $486.66 $0.00 $444.06 $79,468.20
117 $79,468.20 $486.66 $0.00 $449.32 $80,404.18
118 $80,404.18 $486.66 $0.00 $454.62 $81,345.46
119 $81,345.46 $486.66 $0.00 $459.94 $82,292.06
120 $82,292.06 $486.66 $0.00 $465.29 $83,244.01
121 $83,244.01 $486.66 $0.00 $470.67 $84,201.34
122 $84,201.34 $486.66 $0.00 $476.09 $85,164.09
123 $85,164.09 $486.66 $0.00 $481.53 $86,132.28
124 $86,132.28 $486.66 $0.00 $487.00 $87,105.94
125 $87,105.94 $486.66 $0.00 $492.51 $88,085.11
126 $88,085.11 $486.66 $0.00 $498.05 $89,069.82
127 $89,069.82 $486.66 $0.00 $503.61 $90,060.09
128 $90,060.09 $486.66 $0.00 $509.21 $91,055.96
129 $91,055.96 $486.66 $0.00 $514.84 $92,057.46
130 $92,057.46 $486.66 $0.00 $520.51 $93,064.63
131 $93,064.63 $486.66 $0.00 $526.20 $94,077.49
132 $94,077.49 $486.66 $0.00 $531.93 $95,096.08
133 $95,096.08 $486.66 $0.00 $537.69 $96,120.43
134 $96,120.43 $486.66 $0.00 $543.48 $97,150.57
135 $97,150.57 $486.66 $0.00 $549.30 $98,186.53
136 $98,186.53 $486.66 $0.00 $555.16 $99,228.35
137 $99,228.35 $486.66 $0.00 $561.05 $100,276.06
138 $100,276.06 $486.66 $0.00 $566.98 $101,329.70
139 $101,329.70 $486.66 $0.00 $572.93 $102,389.29
140 $102,389.29 $486.66 $0.00 $578.92 $103,454.87
141 $103,454.87 $486.66 $0.00 $584.95 $104,526.48
142 $104,526.48 $486.66 $0.00 $591.01 $105,604.15
143 $105,604.15 $486.66 $0.00 $597.10 $106,687.91
144 $106,687.91 $486.66 $0.00 $603.23 $107,777.80
145 $107,777.80 $486.66 $0.00 $609.39 $108,873.85
146 $108,873.85 $486.66 $0.00 $615.59 $109,976.10
147 $109,976.10 $486.66 $0.00 $621.82 $111,084.58
148 $111,084.58 $486.66 $0.00 $628.09 $112,199.33
149 $112,199.33 $486.66 $0.00 $634.39 $113,320.38
150 $113,320.38 $486.66 $0.00 $640.73 $114,447.77
151 $114,447.77 $486.66 $0.00 $647.10 $115,581.53
152 $115,581.53 $486.66 $0.00 $653.51 $116,721.70
153 $116,721.70 $486.66 $0.00 $659.96 $117,868.32
154 $117,868.32 $486.66 $0.00 $666.44 $119,021.42
155 $119,021.42 $486.66 $0.00 $672.96 $120,181.04
156 $120,181.04 $486.66 $0.00 $679.52 $121,347.22
157 $121,347.22 $486.66 $0.00 $686.11 $122,519.99
158 $122,519.99 $486.66 $0.00 $692.75 $123,699.40
159 $123,699.40 $486.66 $0.00 $699.41 $124,885.47
160 $124,885.47 $486.66 $0.00 $706.12 $126,078.25
161 $126,078.25 $486.66 $0.00 $712.86 $127,277.77
162 $127,277.77 $486.66 $0.00 $719.65 $128,484.08
163 $128,484.08 $486.66 $0.00 $726.47 $129,697.21
164 $129,697.21 $486.66 $0.00 $733.33 $130,917.20
165 $130,917.20 $486.66 $0.00 $740.22 $132,144.08
166 $132,144.08 $486.66 $0.00 $747.16 $133,377.90
167 $133,377.90 $486.66 $0.00 $754.14 $134,618.70
168 $134,618.70 $486.66 $0.00 $761.15 $135,866.51
169 $135,866.51 $486.66 $0.00 $768.21 $137,121.38
170 $137,121.38 $486.66 $0.00 $775.30 $138,383.34
171 $138,383.34 $486.66 $0.00 $782.44 $139,652.44
172 $139,652.44 $486.66 $0.00 $789.62 $140,928.72
173 $140,928.72 $486.66 $0.00 $796.83 $142,212.21
174 $142,212.21 $486.66 $0.00 $804.09 $143,502.96
175 $143,502.96 $486.66 $0.00 $811.39 $144,801.01
176 $144,801.01 $486.66 $0.00 $818.73 $146,106.40
177 $146,106.40 $486.66 $0.00 $826.11 $147,419.17
178 $147,419.17 $486.66 $0.00 $833.53 $148,739.36
179 $148,739.36 $486.66 $0.00 $840.99 $150,067.01
180 $150,067.01 $486.66 $0.00 $848.50 $151,402.17
181 $151,402.17 $486.66 $0.00 $856.05 $152,744.88
182 $152,744.88 $486.66 $0.00 $863.64 $154,095.18
183 $154,095.18 $486.66 $0.00 $871.28 $155,453.12
184 $155,453.12 $486.66 $0.00 $878.95 $156,818.73
185 $156,818.73 $486.66 $0.00 $886.68 $158,192.07
186 $158,192.07 $486.66 $0.00 $894.44 $159,573.17
187 $159,573.17 $486.66 $0.00 $902.25 $160,962.08
188 $160,962.08 $486.66 $0.00 $910.10 $162,358.84
189 $162,358.84 $486.66 $0.00 $918.00 $163,763.50
190 $163,763.50 $486.66 $0.00 $925.94 $165,176.10
191 $165,176.10 $486.66 $0.00 $933.93 $166,596.69
192 $166,596.69 $486.66 $0.00 $941.96 $168,025.31
193 $168,025.31 $486.66 $0.00 $950.04 $169,462.01
194 $169,462.01 $486.66 $0.00 $958.16 $170,906.83
195 $170,906.83 $486.66 $0.00 $966.33 $172,359.82
196 $172,359.82 $486.66 $0.00 $974.55 $173,821.03
197 $173,821.03 $486.66 $0.00 $982.81 $175,290.50
198 $175,290.50 $486.66 $0.00 $991.12 $176,768.28
199 $176,768.28 $486.66 $0.00 $999.47 $178,254.41
200 $178,254.41 $486.66 $0.00 $1,007.88 $179,748.95
201 $179,748.95 $486.66 $0.00 $1,016.33 $181,251.94
202 $181,251.94 $486.66 $0.00 $1,024.82 $182,763.42
203 $182,763.42 $486.66 $0.00 $1,033.37 $184,283.45
204 $184,283.45 $486.66 $0.00 $1,041.97 $185,812.08
205 $185,812.08 $486.66 $0.00 $1,050.61 $187,349.35
206 $187,349.35 $486.66 $0.00 $1,059.30 $188,895.31
207 $188,895.31 $486.66 $0.00 $1,068.04 $190,450.01
208 $190,450.01 $486.66 $0.00 $1,076.83 $192,013.50
209 $192,013.50 $486.66 $0.00 $1,085.67 $193,585.83
210 $193,585.83 $486.66 $0.00 $1,094.56 $195,167.05
211 $195,167.05 $486.66 $0.00 $1,103.50 $196,757.21
212 $196,757.21 $486.66 $0.00 $1,112.49 $198,356.36
213 $198,356.36 $486.66 $0.00 $1,121.54 $199,964.56
214 $199,964.56 $486.66 $0.00 $1,130.63 $201,581.85
215 $201,581.85 $486.66 $0.00 $1,139.77 $203,208.28
216 $203,208.28 $486.66 $0.00 $1,148.97 $204,843.91
217 $204,843.91 $486.66 $57,056.13 $1,158.22 $149,432.66
218 $149,432.66 $486.66 $0.00 $844.91 $150,764.23
219 $150,764.23 $486.66 $0.00 $852.44 $152,103.33
220 $152,103.33 $486.66 $0.00 $860.01 $153,450.00
221 $153,450.00 $486.66 $0.00 $867.63 $154,804.29
222 $154,804.29 $486.66 $0.00 $875.29 $156,166.24
223 $156,166.24 $486.66 $0.00 $882.99 $157,535.89
224 $157,535.89 $486.66 $0.00 $890.73 $158,913.28
225 $158,913.28 $486.66 $0.00 $898.52 $160,298.46
226 $160,298.46 $486.66 $0.00 $906.35 $161,691.47
227 $161,691.47 $486.66 $0.00 $914.23 $163,092.36
228 $163,092.36 $486.66 $0.00 $922.15 $164,501.17
229 $164,501.17 $486.66 $59,908.94 $930.11 $106,009.00
230 $106,009.00 $486.66 $0.00 $599.39 $107,095.05
231 $107,095.05 $486.66 $0.00 $605.53 $108,187.24
232 $108,187.24 $486.66 $0.00 $611.71 $109,285.61
233 $109,285.61 $486.66 $0.00 $617.92 $110,390.19
234 $110,390.19 $486.66 $0.00 $624.16 $111,501.01
235 $111,501.01 $486.66 $0.00 $630.44 $112,618.11
236 $112,618.11 $486.66 $0.00 $636.76 $113,741.53
237 $113,741.53 $486.66 $0.00 $643.11 $114,871.30
238 $114,871.30 $486.66 $0.00 $649.50 $116,007.46
239 $116,007.46 $486.66 $0.00 $655.92 $117,150.04
240 $117,150.04 $486.66 $0.00 $662.38 $118,299.08
241 $118,299.08 $486.66 $62,904.38 $668.88 $56,550.24
242 $56,550.24 $486.66 $0.00 $319.74 $57,356.64
243 $57,356.64 $486.66 $0.00 $324.30 $58,167.60
244 $58,167.60 $486.66 $0.00 $328.89 $58,983.15
245 $58,983.15 $486.66 $0.00 $333.50 $59,803.31
246 $59,803.31 $486.66 $0.00 $338.14 $60,628.11
247 $60,628.11 $486.66 $0.00 $342.80 $61,457.57
248 $61,457.57 $486.66 $0.00 $347.49 $62,291.72
249 $62,291.72 $486.66 $0.00 $352.21 $63,130.59
250 $63,130.59 $486.66 $0.00 $356.95 $63,974.20
251 $63,974.20 $486.66 $0.00 $361.72 $64,822.58
252 $64,822.58 $486.66 $0.00 $366.52 $65,675.76
253 $65,675.76 $0.00 $66,049.60 $371.34 ($2.50)