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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$63,288
Monthly savings required$281

How much will it cost to send your child to Gwinnett Technical College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $126,575.66 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $281.27 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$25,656.00
Years until enrollment18
Annual Tuition Increase5%
Current Savings$0.00
After Tax Return on Savings7%
Years of enrollment2

Current Savings Shortfall

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Planned Savings Balance

College Savings Schedule

Month Begin Deposit Withdraw Interest End
1 $0.00 $281.27 $0.00 $0.00 $281.27
2 $281.27 $281.27 $0.00 $1.59 $564.13
3 $564.13 $281.27 $0.00 $3.19 $848.59
4 $848.59 $281.27 $0.00 $4.80 $1,134.66
5 $1,134.66 $281.27 $0.00 $6.42 $1,422.35
6 $1,422.35 $281.27 $0.00 $8.04 $1,711.66
7 $1,711.66 $281.27 $0.00 $9.68 $2,002.61
8 $2,002.61 $281.27 $0.00 $11.32 $2,295.20
9 $2,295.20 $281.27 $0.00 $12.98 $2,589.45
10 $2,589.45 $281.27 $0.00 $14.64 $2,885.36
11 $2,885.36 $281.27 $0.00 $16.31 $3,182.94
12 $3,182.94 $281.27 $0.00 $18.00 $3,482.21
13 $3,482.21 $281.27 $0.00 $19.69 $3,783.17
14 $3,783.17 $281.27 $0.00 $21.39 $4,085.83
15 $4,085.83 $281.27 $0.00 $23.10 $4,390.20
16 $4,390.20 $281.27 $0.00 $24.82 $4,696.29
17 $4,696.29 $281.27 $0.00 $26.55 $5,004.11
18 $5,004.11 $281.27 $0.00 $28.29 $5,313.67
19 $5,313.67 $281.27 $0.00 $30.04 $5,624.98
20 $5,624.98 $281.27 $0.00 $31.80 $5,938.05
21 $5,938.05 $281.27 $0.00 $33.57 $6,252.89
22 $6,252.89 $281.27 $0.00 $35.35 $6,569.51
23 $6,569.51 $281.27 $0.00 $37.14 $6,887.92
24 $6,887.92 $281.27 $0.00 $38.95 $7,208.14
25 $7,208.14 $281.27 $0.00 $40.76 $7,530.17
26 $7,530.17 $281.27 $0.00 $42.58 $7,854.02
27 $7,854.02 $281.27 $0.00 $44.41 $8,179.70
28 $8,179.70 $281.27 $0.00 $46.25 $8,507.22
29 $8,507.22 $281.27 $0.00 $48.10 $8,836.59
30 $8,836.59 $281.27 $0.00 $49.96 $9,167.82
31 $9,167.82 $281.27 $0.00 $51.84 $9,500.93
32 $9,500.93 $281.27 $0.00 $53.72 $9,835.92
33 $9,835.92 $281.27 $0.00 $55.61 $10,172.80
34 $10,172.80 $281.27 $0.00 $57.52 $10,511.59
35 $10,511.59 $281.27 $0.00 $59.43 $10,852.29
36 $10,852.29 $281.27 $0.00 $61.36 $11,194.92
37 $11,194.92 $281.27 $0.00 $63.30 $11,539.49
38 $11,539.49 $281.27 $0.00 $65.25 $11,886.01
39 $11,886.01 $281.27 $0.00 $67.21 $12,234.49
40 $12,234.49 $281.27 $0.00 $69.18 $12,584.94
41 $12,584.94 $281.27 $0.00 $71.16 $12,937.37
42 $12,937.37 $281.27 $0.00 $73.15 $13,291.79
43 $13,291.79 $281.27 $0.00 $75.15 $13,648.21
44 $13,648.21 $281.27 $0.00 $77.17 $14,006.65
45 $14,006.65 $281.27 $0.00 $79.20 $14,367.12
46 $14,367.12 $281.27 $0.00 $81.23 $14,729.62
47 $14,729.62 $281.27 $0.00 $83.28 $15,094.17
48 $15,094.17 $281.27 $0.00 $85.34 $15,460.78
49 $15,460.78 $281.27 $0.00 $87.42 $15,829.47
50 $15,829.47 $281.27 $0.00 $89.50 $16,200.24
51 $16,200.24 $281.27 $0.00 $91.60 $16,573.11
52 $16,573.11 $281.27 $0.00 $93.71 $16,948.09
53 $16,948.09 $281.27 $0.00 $95.83 $17,325.19
54 $17,325.19 $281.27 $0.00 $97.96 $17,704.42
55 $17,704.42 $281.27 $0.00 $100.10 $18,085.79
56 $18,085.79 $281.27 $0.00 $102.26 $18,469.32
57 $18,469.32 $281.27 $0.00 $104.43 $18,855.02
58 $18,855.02 $281.27 $0.00 $106.61 $19,242.90
59 $19,242.90 $281.27 $0.00 $108.80 $19,632.97
60 $19,632.97 $281.27 $0.00 $111.01 $20,025.25
61 $20,025.25 $281.27 $0.00 $113.23 $20,419.75
62 $20,419.75 $281.27 $0.00 $115.46 $20,816.48
63 $20,816.48 $281.27 $0.00 $117.70 $21,215.45
64 $21,215.45 $281.27 $0.00 $119.96 $21,616.68
65 $21,616.68 $281.27 $0.00 $122.22 $22,020.17
66 $22,020.17 $281.27 $0.00 $124.51 $22,425.95
67 $22,425.95 $281.27 $0.00 $126.80 $22,834.02
68 $22,834.02 $281.27 $0.00 $129.11 $23,244.40
69 $23,244.40 $281.27 $0.00 $131.43 $23,657.10
70 $23,657.10 $281.27 $0.00 $133.76 $24,072.13
71 $24,072.13 $281.27 $0.00 $136.11 $24,489.51
72 $24,489.51 $281.27 $0.00 $138.47 $24,909.25
73 $24,909.25 $281.27 $0.00 $140.84 $25,331.36
74 $25,331.36 $281.27 $0.00 $143.23 $25,755.86
75 $25,755.86 $281.27 $0.00 $145.63 $26,182.76
76 $26,182.76 $281.27 $0.00 $148.04 $26,612.07
77 $26,612.07 $281.27 $0.00 $150.47 $27,043.81
78 $27,043.81 $281.27 $0.00 $152.91 $27,477.99
79 $27,477.99 $281.27 $0.00 $155.36 $27,914.62
80 $27,914.62 $281.27 $0.00 $157.83 $28,353.72
81 $28,353.72 $281.27 $0.00 $160.32 $28,795.31
82 $28,795.31 $281.27 $0.00 $162.81 $29,239.39
83 $29,239.39 $281.27 $0.00 $165.32 $29,685.98
84 $29,685.98 $281.27 $0.00 $167.85 $30,135.10
85 $30,135.10 $281.27 $0.00 $170.39 $30,586.76
86 $30,586.76 $281.27 $0.00 $172.94 $31,040.97
87 $31,040.97 $281.27 $0.00 $175.51 $31,497.75
88 $31,497.75 $281.27 $0.00 $178.09 $31,957.11
89 $31,957.11 $281.27 $0.00 $180.69 $32,419.07
90 $32,419.07 $281.27 $0.00 $183.30 $32,883.64
91 $32,883.64 $281.27 $0.00 $185.93 $33,350.84
92 $33,350.84 $281.27 $0.00 $188.57 $33,820.68
93 $33,820.68 $281.27 $0.00 $191.23 $34,293.18
94 $34,293.18 $281.27 $0.00 $193.90 $34,768.35
95 $34,768.35 $281.27 $0.00 $196.59 $35,246.21
96 $35,246.21 $281.27 $0.00 $199.29 $35,726.77
97 $35,726.77 $281.27 $0.00 $202.00 $36,210.04
98 $36,210.04 $281.27 $0.00 $204.74 $36,696.05
99 $36,696.05 $281.27 $0.00 $207.48 $37,184.80
100 $37,184.80 $281.27 $0.00 $210.25 $37,676.32
101 $37,676.32 $281.27 $0.00 $213.03 $38,170.62
102 $38,170.62 $281.27 $0.00 $215.82 $38,667.71
103 $38,667.71 $281.27 $0.00 $218.63 $39,167.61
104 $39,167.61 $281.27 $0.00 $221.46 $39,670.34
105 $39,670.34 $281.27 $0.00 $224.30 $40,175.91
106 $40,175.91 $281.27 $0.00 $227.16 $40,684.34
107 $40,684.34 $281.27 $0.00 $230.04 $41,195.65
108 $41,195.65 $281.27 $0.00 $232.93 $41,709.85
109 $41,709.85 $281.27 $0.00 $235.83 $42,226.95
110 $42,226.95 $281.27 $0.00 $238.76 $42,746.98
111 $42,746.98 $281.27 $0.00 $241.70 $43,269.95
112 $43,269.95 $281.27 $0.00 $244.65 $43,795.87
113 $43,795.87 $281.27 $0.00 $247.63 $44,324.77
114 $44,324.77 $281.27 $0.00 $250.62 $44,856.66
115 $44,856.66 $281.27 $0.00 $253.63 $45,391.56
116 $45,391.56 $281.27 $0.00 $256.65 $45,929.48
117 $45,929.48 $281.27 $0.00 $259.69 $46,470.44
118 $46,470.44 $281.27 $0.00 $262.75 $47,014.46
119 $47,014.46 $281.27 $0.00 $265.83 $47,561.56
120 $47,561.56 $281.27 $0.00 $268.92 $48,111.75
121 $48,111.75 $281.27 $0.00 $272.03 $48,665.05
122 $48,665.05 $281.27 $0.00 $275.16 $49,221.48
123 $49,221.48 $281.27 $0.00 $278.31 $49,781.06
124 $49,781.06 $281.27 $0.00 $281.47 $50,343.80
125 $50,343.80 $281.27 $0.00 $284.65 $50,909.72
126 $50,909.72 $281.27 $0.00 $287.85 $51,478.84
127 $51,478.84 $281.27 $0.00 $291.07 $52,051.18
128 $52,051.18 $281.27 $0.00 $294.30 $52,626.75
129 $52,626.75 $281.27 $0.00 $297.56 $53,205.58
130 $53,205.58 $281.27 $0.00 $300.83 $53,787.68
131 $53,787.68 $281.27 $0.00 $304.12 $54,373.07
132 $54,373.07 $281.27 $0.00 $307.43 $54,961.77
133 $54,961.77 $281.27 $0.00 $310.76 $55,553.80
134 $55,553.80 $281.27 $0.00 $314.11 $56,149.18
135 $56,149.18 $281.27 $0.00 $317.48 $56,747.93
136 $56,747.93 $281.27 $0.00 $320.86 $57,350.06
137 $57,350.06 $281.27 $0.00 $324.27 $57,955.60
138 $57,955.60 $281.27 $0.00 $327.69 $58,564.56
139 $58,564.56 $281.27 $0.00 $331.13 $59,176.96
140 $59,176.96 $281.27 $0.00 $334.60 $59,792.83
141 $59,792.83 $281.27 $0.00 $338.08 $60,412.18
142 $60,412.18 $281.27 $0.00 $341.58 $61,035.03
143 $61,035.03 $281.27 $0.00 $345.10 $61,661.40
144 $61,661.40 $281.27 $0.00 $348.64 $62,291.31
145 $62,291.31 $281.27 $0.00 $352.20 $62,924.78
146 $62,924.78 $281.27 $0.00 $355.79 $63,561.84
147 $63,561.84 $281.27 $0.00 $359.39 $64,202.50
148 $64,202.50 $281.27 $0.00 $363.01 $64,846.78
149 $64,846.78 $281.27 $0.00 $366.65 $65,494.70
150 $65,494.70 $281.27 $0.00 $370.32 $66,146.29
151 $66,146.29 $281.27 $0.00 $374.00 $66,801.56
152 $66,801.56 $281.27 $0.00 $377.71 $67,460.54
153 $67,460.54 $281.27 $0.00 $381.43 $68,123.24
154 $68,123.24 $281.27 $0.00 $385.18 $68,789.69
155 $68,789.69 $281.27 $0.00 $388.95 $69,459.91
156 $69,459.91 $281.27 $0.00 $392.74 $70,133.92
157 $70,133.92 $281.27 $0.00 $396.55 $70,811.74
158 $70,811.74 $281.27 $0.00 $400.38 $71,493.39
159 $71,493.39 $281.27 $0.00 $404.23 $72,178.89
160 $72,178.89 $281.27 $0.00 $408.11 $72,868.27
161 $72,868.27 $281.27 $0.00 $412.01 $73,561.55
162 $73,561.55 $281.27 $0.00 $415.93 $74,258.75
163 $74,258.75 $281.27 $0.00 $419.87 $74,959.89
164 $74,959.89 $281.27 $0.00 $423.83 $75,664.99
165 $75,664.99 $281.27 $0.00 $427.82 $76,374.08
166 $76,374.08 $281.27 $0.00 $431.83 $77,087.18
167 $77,087.18 $281.27 $0.00 $435.86 $77,804.31
168 $77,804.31 $281.27 $0.00 $439.92 $78,525.50
169 $78,525.50 $281.27 $0.00 $443.99 $79,250.76
170 $79,250.76 $281.27 $0.00 $448.10 $79,980.13
171 $79,980.13 $281.27 $0.00 $452.22 $80,713.62
172 $80,713.62 $281.27 $0.00 $456.37 $81,451.26
173 $81,451.26 $281.27 $0.00 $460.54 $82,193.07
174 $82,193.07 $281.27 $0.00 $464.73 $82,939.07
175 $82,939.07 $281.27 $0.00 $468.95 $83,689.29
176 $83,689.29 $281.27 $0.00 $473.19 $84,443.75
177 $84,443.75 $281.27 $0.00 $477.46 $85,202.48
178 $85,202.48 $281.27 $0.00 $481.75 $85,965.50
179 $85,965.50 $281.27 $0.00 $486.06 $86,732.83
180 $86,732.83 $281.27 $0.00 $490.40 $87,504.50
181 $87,504.50 $281.27 $0.00 $494.76 $88,280.53
182 $88,280.53 $281.27 $0.00 $499.15 $89,060.95
183 $89,060.95 $281.27 $0.00 $503.56 $89,845.78
184 $89,845.78 $281.27 $0.00 $508.00 $90,635.05
185 $90,635.05 $281.27 $0.00 $512.46 $91,428.78
186 $91,428.78 $281.27 $0.00 $516.95 $92,227.00
187 $92,227.00 $281.27 $0.00 $521.46 $93,029.73
188 $93,029.73 $281.27 $0.00 $526.00 $93,837.00
189 $93,837.00 $281.27 $0.00 $530.57 $94,648.84
190 $94,648.84 $281.27 $0.00 $535.16 $95,465.27
191 $95,465.27 $281.27 $0.00 $539.77 $96,286.31
192 $96,286.31 $281.27 $0.00 $544.42 $97,112.00
193 $97,112.00 $281.27 $0.00 $549.09 $97,942.36
194 $97,942.36 $281.27 $0.00 $553.78 $98,777.41
195 $98,777.41 $281.27 $0.00 $558.50 $99,617.18
196 $99,617.18 $281.27 $0.00 $563.25 $100,461.70
197 $100,461.70 $281.27 $0.00 $568.03 $101,311.00
198 $101,311.00 $281.27 $0.00 $572.83 $102,165.10
199 $102,165.10 $281.27 $0.00 $577.66 $103,024.03
200 $103,024.03 $281.27 $0.00 $582.51 $103,887.81
201 $103,887.81 $281.27 $0.00 $587.40 $104,756.48
202 $104,756.48 $281.27 $0.00 $592.31 $105,630.06
203 $105,630.06 $281.27 $0.00 $597.25 $106,508.58
204 $106,508.58 $281.27 $0.00 $602.21 $107,392.06
205 $107,392.06 $281.27 $0.00 $607.21 $108,280.54
206 $108,280.54 $281.27 $0.00 $612.23 $109,174.04
207 $109,174.04 $281.27 $0.00 $617.29 $110,072.60
208 $110,072.60 $281.27 $0.00 $622.37 $110,976.24
209 $110,976.24 $281.27 $0.00 $627.48 $111,884.99
210 $111,884.99 $281.27 $0.00 $632.61 $112,798.87
211 $112,798.87 $281.27 $0.00 $637.78 $113,717.92
212 $113,717.92 $281.27 $0.00 $642.98 $114,642.17
213 $114,642.17 $281.27 $0.00 $648.20 $115,571.64
214 $115,571.64 $281.27 $0.00 $653.46 $116,506.37
215 $116,506.37 $281.27 $0.00 $658.74 $117,446.38
216 $117,446.38 $281.27 $0.00 $664.06 $118,391.71
217 $118,391.71 $281.27 $61,744.22 $669.40 $57,598.16
218 $57,598.16 $281.27 $0.00 $325.67 $58,205.10
219 $58,205.10 $281.27 $0.00 $329.10 $58,815.47
220 $58,815.47 $281.27 $0.00 $332.55 $59,429.29
221 $59,429.29 $281.27 $0.00 $336.02 $60,046.58
222 $60,046.58 $281.27 $0.00 $339.51 $60,667.36
223 $60,667.36 $281.27 $0.00 $343.02 $61,291.65
224 $61,291.65 $281.27 $0.00 $346.55 $61,919.47
225 $61,919.47 $281.27 $0.00 $350.10 $62,550.84
226 $62,550.84 $281.27 $0.00 $353.67 $63,185.78
227 $63,185.78 $281.27 $0.00 $357.26 $63,824.31
228 $63,824.31 $281.27 $0.00 $360.87 $64,466.45
229 $64,466.45 $0.00 $64,831.43 $364.50 ($0.48)