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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$69,602
Monthly savings required$551

How much will it cost to send your child to Trinity College of Florida in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $278,406.75 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $550.97 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$26,840.00
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 $550.97 $0.00 $0.00 $550.97
2 $550.97 $550.97 $0.00 $3.12 $1,105.06
3 $1,105.06 $550.97 $0.00 $6.25 $1,662.28
4 $1,662.28 $550.97 $0.00 $9.40 $2,222.65
5 $2,222.65 $550.97 $0.00 $12.57 $2,786.19
6 $2,786.19 $550.97 $0.00 $15.75 $3,352.91
7 $3,352.91 $550.97 $0.00 $18.96 $3,922.84
8 $3,922.84 $550.97 $0.00 $22.18 $4,495.99
9 $4,495.99 $550.97 $0.00 $25.42 $5,072.38
10 $5,072.38 $550.97 $0.00 $28.68 $5,652.03
11 $5,652.03 $550.97 $0.00 $31.96 $6,234.96
12 $6,234.96 $550.97 $0.00 $35.25 $6,821.18
13 $6,821.18 $550.97 $0.00 $38.57 $7,410.72
14 $7,410.72 $550.97 $0.00 $41.90 $8,003.59
15 $8,003.59 $550.97 $0.00 $45.25 $8,599.81
16 $8,599.81 $550.97 $0.00 $48.62 $9,199.40
17 $9,199.40 $550.97 $0.00 $52.01 $9,802.38
18 $9,802.38 $550.97 $0.00 $55.42 $10,408.77
19 $10,408.77 $550.97 $0.00 $58.85 $11,018.59
20 $11,018.59 $550.97 $0.00 $62.30 $11,631.86
21 $11,631.86 $550.97 $0.00 $65.77 $12,248.60
22 $12,248.60 $550.97 $0.00 $69.26 $12,868.83
23 $12,868.83 $550.97 $0.00 $72.76 $13,492.56
24 $13,492.56 $550.97 $0.00 $76.29 $14,119.82
25 $14,119.82 $550.97 $0.00 $79.84 $14,750.63
26 $14,750.63 $550.97 $0.00 $83.40 $15,385.00
27 $15,385.00 $550.97 $0.00 $86.99 $16,022.96
28 $16,022.96 $550.97 $0.00 $90.60 $16,664.53
29 $16,664.53 $550.97 $0.00 $94.22 $17,309.72
30 $17,309.72 $550.97 $0.00 $97.87 $17,958.56
31 $17,958.56 $550.97 $0.00 $101.54 $18,611.07
32 $18,611.07 $550.97 $0.00 $105.23 $19,267.27
33 $19,267.27 $550.97 $0.00 $108.94 $19,927.18
34 $19,927.18 $550.97 $0.00 $112.67 $20,590.82
35 $20,590.82 $550.97 $0.00 $116.42 $21,258.21
36 $21,258.21 $550.97 $0.00 $120.20 $21,929.38
37 $21,929.38 $550.97 $0.00 $123.99 $22,604.34
38 $22,604.34 $550.97 $0.00 $127.81 $23,283.12
39 $23,283.12 $550.97 $0.00 $131.65 $23,965.74
40 $23,965.74 $550.97 $0.00 $135.51 $24,652.22
41 $24,652.22 $550.97 $0.00 $139.39 $25,342.58
42 $25,342.58 $550.97 $0.00 $143.29 $26,036.84
43 $26,036.84 $550.97 $0.00 $147.22 $26,735.03
44 $26,735.03 $550.97 $0.00 $151.16 $27,437.16
45 $27,437.16 $550.97 $0.00 $155.13 $28,143.26
46 $28,143.26 $550.97 $0.00 $159.13 $28,853.36
47 $28,853.36 $550.97 $0.00 $163.14 $29,567.47
48 $29,567.47 $550.97 $0.00 $167.18 $30,285.62
49 $30,285.62 $550.97 $0.00 $171.24 $31,007.83
50 $31,007.83 $550.97 $0.00 $175.32 $31,734.12
51 $31,734.12 $550.97 $0.00 $179.43 $32,464.52
52 $32,464.52 $550.97 $0.00 $183.56 $33,199.05
53 $33,199.05 $550.97 $0.00 $187.71 $33,937.73
54 $33,937.73 $550.97 $0.00 $191.89 $34,680.59
55 $34,680.59 $550.97 $0.00 $196.09 $35,427.65
56 $35,427.65 $550.97 $0.00 $200.31 $36,178.93
57 $36,178.93 $550.97 $0.00 $204.56 $36,934.46
58 $36,934.46 $550.97 $0.00 $208.83 $37,694.26
59 $37,694.26 $550.97 $0.00 $213.13 $38,458.36
60 $38,458.36 $550.97 $0.00 $217.45 $39,226.78
61 $39,226.78 $550.97 $0.00 $221.79 $39,999.54
62 $39,999.54 $550.97 $0.00 $226.16 $40,776.67
63 $40,776.67 $550.97 $0.00 $230.56 $41,558.20
64 $41,558.20 $550.97 $0.00 $234.98 $42,344.15
65 $42,344.15 $550.97 $0.00 $239.42 $43,134.54
66 $43,134.54 $550.97 $0.00 $243.89 $43,929.40
67 $43,929.40 $550.97 $0.00 $248.38 $44,728.75
68 $44,728.75 $550.97 $0.00 $252.90 $45,532.62
69 $45,532.62 $550.97 $0.00 $257.45 $46,341.04
70 $46,341.04 $550.97 $0.00 $262.02 $47,154.03
71 $47,154.03 $550.97 $0.00 $266.62 $47,971.62
72 $47,971.62 $550.97 $0.00 $271.24 $48,793.83
73 $48,793.83 $550.97 $0.00 $275.89 $49,620.69
74 $49,620.69 $550.97 $0.00 $280.56 $50,452.22
75 $50,452.22 $550.97 $0.00 $285.26 $51,288.45
76 $51,288.45 $550.97 $0.00 $289.99 $52,129.41
77 $52,129.41 $550.97 $0.00 $294.75 $52,975.13
78 $52,975.13 $550.97 $0.00 $299.53 $53,825.63
79 $53,825.63 $550.97 $0.00 $304.34 $54,680.94
80 $54,680.94 $550.97 $0.00 $309.17 $55,541.08
81 $55,541.08 $550.97 $0.00 $314.04 $56,406.09
82 $56,406.09 $550.97 $0.00 $318.93 $57,275.99
83 $57,275.99 $550.97 $0.00 $323.85 $58,150.81
84 $58,150.81 $550.97 $0.00 $328.79 $59,030.57
85 $59,030.57 $550.97 $0.00 $333.77 $59,915.31
86 $59,915.31 $550.97 $0.00 $338.77 $60,805.05
87 $60,805.05 $550.97 $0.00 $343.80 $61,699.82
88 $61,699.82 $550.97 $0.00 $348.86 $62,599.65
89 $62,599.65 $550.97 $0.00 $353.95 $63,504.57
90 $63,504.57 $550.97 $0.00 $359.06 $64,414.60
91 $64,414.60 $550.97 $0.00 $364.21 $65,329.78
92 $65,329.78 $550.97 $0.00 $369.38 $66,250.13
93 $66,250.13 $550.97 $0.00 $374.59 $67,175.69
94 $67,175.69 $550.97 $0.00 $379.82 $68,106.48
95 $68,106.48 $550.97 $0.00 $385.08 $69,042.53
96 $69,042.53 $550.97 $0.00 $390.38 $69,983.88
97 $69,983.88 $550.97 $0.00 $395.70 $70,930.55
98 $70,930.55 $550.97 $0.00 $401.05 $71,882.57
99 $71,882.57 $550.97 $0.00 $406.43 $72,839.97
100 $72,839.97 $550.97 $0.00 $411.85 $73,802.79
101 $73,802.79 $550.97 $0.00 $417.29 $74,771.05
102 $74,771.05 $550.97 $0.00 $422.77 $75,744.79
103 $75,744.79 $550.97 $0.00 $428.27 $76,724.03
104 $76,724.03 $550.97 $0.00 $433.81 $77,708.81
105 $77,708.81 $550.97 $0.00 $439.38 $78,699.16
106 $78,699.16 $550.97 $0.00 $444.98 $79,695.11
107 $79,695.11 $550.97 $0.00 $450.61 $80,696.69
108 $80,696.69 $550.97 $0.00 $456.27 $81,703.93
109 $81,703.93 $550.97 $0.00 $461.97 $82,716.87
110 $82,716.87 $550.97 $0.00 $467.69 $83,735.53
111 $83,735.53 $550.97 $0.00 $473.45 $84,759.95
112 $84,759.95 $550.97 $0.00 $479.25 $85,790.17
113 $85,790.17 $550.97 $0.00 $485.07 $86,826.21
114 $86,826.21 $550.97 $0.00 $490.93 $87,868.11
115 $87,868.11 $550.97 $0.00 $496.82 $88,915.90
116 $88,915.90 $550.97 $0.00 $502.74 $89,969.61
117 $89,969.61 $550.97 $0.00 $508.70 $91,029.28
118 $91,029.28 $550.97 $0.00 $514.69 $92,094.94
119 $92,094.94 $550.97 $0.00 $520.72 $93,166.63
120 $93,166.63 $550.97 $0.00 $526.78 $94,244.38
121 $94,244.38 $550.97 $0.00 $532.87 $95,328.22
122 $95,328.22 $550.97 $0.00 $539.00 $96,418.19
123 $96,418.19 $550.97 $0.00 $545.16 $97,514.32
124 $97,514.32 $550.97 $0.00 $551.36 $98,616.65
125 $98,616.65 $550.97 $0.00 $557.59 $99,725.21
126 $99,725.21 $550.97 $0.00 $563.86 $100,840.04
127 $100,840.04 $550.97 $0.00 $570.16 $101,961.17
128 $101,961.17 $550.97 $0.00 $576.50 $103,088.64
129 $103,088.64 $550.97 $0.00 $582.88 $104,222.49
130 $104,222.49 $550.97 $0.00 $589.29 $105,362.75
131 $105,362.75 $550.97 $0.00 $595.74 $106,509.46
132 $106,509.46 $550.97 $0.00 $602.22 $107,662.65
133 $107,662.65 $550.97 $0.00 $608.74 $108,822.36
134 $108,822.36 $550.97 $0.00 $615.30 $109,988.63
135 $109,988.63 $550.97 $0.00 $621.89 $111,161.49
136 $111,161.49 $550.97 $0.00 $628.52 $112,340.98
137 $112,340.98 $550.97 $0.00 $635.19 $113,527.14
138 $113,527.14 $550.97 $0.00 $641.90 $114,720.01
139 $114,720.01 $550.97 $0.00 $648.64 $115,919.62
140 $115,919.62 $550.97 $0.00 $655.43 $117,126.02
141 $117,126.02 $550.97 $0.00 $662.25 $118,339.24
142 $118,339.24 $550.97 $0.00 $669.11 $119,559.32
143 $119,559.32 $550.97 $0.00 $676.01 $120,786.30
144 $120,786.30 $550.97 $0.00 $682.94 $122,020.21
145 $122,020.21 $550.97 $0.00 $689.92 $123,261.10
146 $123,261.10 $550.97 $0.00 $696.94 $124,509.01
147 $124,509.01 $550.97 $0.00 $703.99 $125,763.97
148 $125,763.97 $550.97 $0.00 $711.09 $127,026.03
149 $127,026.03 $550.97 $0.00 $718.22 $128,295.22
150 $128,295.22 $550.97 $0.00 $725.40 $129,571.59
151 $129,571.59 $550.97 $0.00 $732.62 $130,855.18
152 $130,855.18 $550.97 $0.00 $739.87 $132,146.02
153 $132,146.02 $550.97 $0.00 $747.17 $133,444.16
154 $133,444.16 $550.97 $0.00 $754.51 $134,749.64
155 $134,749.64 $550.97 $0.00 $761.89 $136,062.50
156 $136,062.50 $550.97 $0.00 $769.32 $137,382.79
157 $137,382.79 $550.97 $0.00 $776.78 $138,710.54
158 $138,710.54 $550.97 $0.00 $784.29 $140,045.80
159 $140,045.80 $550.97 $0.00 $791.84 $141,388.61
160 $141,388.61 $550.97 $0.00 $799.43 $142,739.01
161 $142,739.01 $550.97 $0.00 $807.07 $144,097.05
162 $144,097.05 $550.97 $0.00 $814.75 $145,462.77
163 $145,462.77 $550.97 $0.00 $822.47 $146,836.21
164 $146,836.21 $550.97 $0.00 $830.23 $148,217.41
165 $148,217.41 $550.97 $0.00 $838.04 $149,606.42
166 $149,606.42 $550.97 $0.00 $845.90 $151,003.29
167 $151,003.29 $550.97 $0.00 $853.79 $152,408.05
168 $152,408.05 $550.97 $0.00 $861.74 $153,820.76
169 $153,820.76 $550.97 $0.00 $869.72 $155,241.45
170 $155,241.45 $550.97 $0.00 $877.76 $156,670.18
171 $156,670.18 $550.97 $0.00 $885.84 $158,106.99
172 $158,106.99 $550.97 $0.00 $893.96 $159,551.92
173 $159,551.92 $550.97 $0.00 $902.13 $161,005.02
174 $161,005.02 $550.97 $0.00 $910.35 $162,466.34
175 $162,466.34 $550.97 $0.00 $918.61 $163,935.92
176 $163,935.92 $550.97 $0.00 $926.92 $165,413.81
177 $165,413.81 $550.97 $0.00 $935.27 $166,900.05
178 $166,900.05 $550.97 $0.00 $943.68 $168,394.70
179 $168,394.70 $550.97 $0.00 $952.13 $169,897.80
180 $169,897.80 $550.97 $0.00 $960.63 $171,409.40
181 $171,409.40 $550.97 $0.00 $969.17 $172,929.54
182 $172,929.54 $550.97 $0.00 $977.77 $174,458.28
183 $174,458.28 $550.97 $0.00 $986.41 $175,995.66
184 $175,995.66 $550.97 $0.00 $995.11 $177,541.74
185 $177,541.74 $550.97 $0.00 $1,003.85 $179,096.56
186 $179,096.56 $550.97 $0.00 $1,012.64 $180,660.17
187 $180,660.17 $550.97 $0.00 $1,021.48 $182,232.62
188 $182,232.62 $550.97 $0.00 $1,030.37 $183,813.96
189 $183,813.96 $550.97 $0.00 $1,039.31 $185,404.24
190 $185,404.24 $550.97 $0.00 $1,048.30 $187,003.51
191 $187,003.51 $550.97 $0.00 $1,057.35 $188,611.83
192 $188,611.83 $550.97 $0.00 $1,066.44 $190,229.24
193 $190,229.24 $550.97 $0.00 $1,075.58 $191,855.79
194 $191,855.79 $550.97 $0.00 $1,084.78 $193,491.54
195 $193,491.54 $550.97 $0.00 $1,094.03 $195,136.54
196 $195,136.54 $550.97 $0.00 $1,103.33 $196,790.84
197 $196,790.84 $550.97 $0.00 $1,112.68 $198,454.49
198 $198,454.49 $550.97 $0.00 $1,122.09 $200,127.55
199 $200,127.55 $550.97 $0.00 $1,131.55 $201,810.07
200 $201,810.07 $550.97 $0.00 $1,141.06 $203,502.10
201 $203,502.10 $550.97 $0.00 $1,150.63 $205,203.70
202 $205,203.70 $550.97 $0.00 $1,160.25 $206,914.92
203 $206,914.92 $550.97 $0.00 $1,169.93 $208,635.82
204 $208,635.82 $550.97 $0.00 $1,179.66 $210,366.45
205 $210,366.45 $550.97 $0.00 $1,189.44 $212,106.86
206 $212,106.86 $550.97 $0.00 $1,199.28 $213,857.11
207 $213,857.11 $550.97 $0.00 $1,209.18 $215,617.26
208 $215,617.26 $550.97 $0.00 $1,219.13 $217,387.36
209 $217,387.36 $550.97 $0.00 $1,229.14 $219,167.47
210 $219,167.47 $550.97 $0.00 $1,239.20 $220,957.64
211 $220,957.64 $550.97 $0.00 $1,249.33 $222,757.94
212 $222,757.94 $550.97 $0.00 $1,259.51 $224,568.42
213 $224,568.42 $550.97 $0.00 $1,269.74 $226,389.13
214 $226,389.13 $550.97 $0.00 $1,280.04 $228,220.14
215 $228,220.14 $550.97 $0.00 $1,290.39 $230,061.50
216 $230,061.50 $550.97 $0.00 $1,300.80 $231,913.27
217 $231,913.27 $550.97 $64,593.66 $1,311.27 $169,181.85
218 $169,181.85 $550.97 $0.00 $956.58 $170,689.40
219 $170,689.40 $550.97 $0.00 $965.10 $172,205.47
220 $172,205.47 $550.97 $0.00 $973.67 $173,730.11
221 $173,730.11 $550.97 $0.00 $982.30 $175,263.38
222 $175,263.38 $550.97 $0.00 $990.96 $176,805.31
223 $176,805.31 $550.97 $0.00 $999.68 $178,355.96
224 $178,355.96 $550.97 $0.00 $1,008.45 $179,915.38
225 $179,915.38 $550.97 $0.00 $1,017.27 $181,483.62
226 $181,483.62 $550.97 $0.00 $1,026.13 $183,060.72
227 $183,060.72 $550.97 $0.00 $1,035.05 $184,646.74
228 $184,646.74 $550.97 $0.00 $1,044.02 $186,241.73
229 $186,241.73 $550.97 $67,823.34 $1,053.04 $120,022.40
230 $120,022.40 $550.97 $0.00 $678.62 $121,251.99
231 $121,251.99 $550.97 $0.00 $685.58 $122,488.54
232 $122,488.54 $550.97 $0.00 $692.57 $123,732.08
233 $123,732.08 $550.97 $0.00 $699.60 $124,982.65
234 $124,982.65 $550.97 $0.00 $706.67 $126,240.29
235 $126,240.29 $550.97 $0.00 $713.78 $127,505.04
236 $127,505.04 $550.97 $0.00 $720.93 $128,776.94
237 $128,776.94 $550.97 $0.00 $728.12 $130,056.03
238 $130,056.03 $550.97 $0.00 $735.36 $131,342.36
239 $131,342.36 $550.97 $0.00 $742.63 $132,635.96
240 $132,635.96 $550.97 $0.00 $749.94 $133,936.87
241 $133,936.87 $550.97 $71,214.51 $757.30 $64,030.63
242 $64,030.63 $550.97 $0.00 $362.04 $64,943.64
243 $64,943.64 $550.97 $0.00 $367.20 $65,861.81
244 $65,861.81 $550.97 $0.00 $372.39 $66,785.17
245 $66,785.17 $550.97 $0.00 $377.61 $67,713.75
246 $67,713.75 $550.97 $0.00 $382.86 $68,647.58
247 $68,647.58 $550.97 $0.00 $388.14 $69,586.69
248 $69,586.69 $550.97 $0.00 $393.45 $70,531.11
249 $70,531.11 $550.97 $0.00 $398.79 $71,480.87
250 $71,480.87 $550.97 $0.00 $404.16 $72,436.00
251 $72,436.00 $550.97 $0.00 $409.56 $73,396.53
252 $73,396.53 $550.97 $0.00 $414.99 $74,362.49
253 $74,362.49 $0.00 $74,775.24 $420.46 $7.71