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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$119,754
Monthly savings required$948

How much will it cost to send your child to LaGrange College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $479,017.28 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $947.95 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$46,180.00
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 $947.95 $0.00 $0.00 $947.95
2 $947.95 $947.95 $0.00 $5.36 $1,901.26
3 $1,901.26 $947.95 $0.00 $10.75 $2,859.96
4 $2,859.96 $947.95 $0.00 $16.17 $3,824.08
5 $3,824.08 $947.95 $0.00 $21.62 $4,793.65
6 $4,793.65 $947.95 $0.00 $27.10 $5,768.70
7 $5,768.70 $947.95 $0.00 $32.62 $6,749.27
8 $6,749.27 $947.95 $0.00 $38.16 $7,735.38
9 $7,735.38 $947.95 $0.00 $43.74 $8,727.07
10 $8,727.07 $947.95 $0.00 $49.34 $9,724.36
11 $9,724.36 $947.95 $0.00 $54.98 $10,727.29
12 $10,727.29 $947.95 $0.00 $60.65 $11,735.89
13 $11,735.89 $947.95 $0.00 $66.36 $12,750.20
14 $12,750.20 $947.95 $0.00 $72.09 $13,770.24
15 $13,770.24 $947.95 $0.00 $77.86 $14,796.05
16 $14,796.05 $947.95 $0.00 $83.66 $15,827.66
17 $15,827.66 $947.95 $0.00 $89.49 $16,865.10
18 $16,865.10 $947.95 $0.00 $95.36 $17,908.41
19 $17,908.41 $947.95 $0.00 $101.26 $18,957.62
20 $18,957.62 $947.95 $0.00 $107.19 $20,012.76
21 $20,012.76 $947.95 $0.00 $113.16 $21,073.87
22 $21,073.87 $947.95 $0.00 $119.15 $22,140.97
23 $22,140.97 $947.95 $0.00 $125.19 $23,214.11
24 $23,214.11 $947.95 $0.00 $131.26 $24,293.32
25 $24,293.32 $947.95 $0.00 $137.36 $25,378.63
26 $25,378.63 $947.95 $0.00 $143.49 $26,470.07
27 $26,470.07 $947.95 $0.00 $149.67 $27,567.69
28 $27,567.69 $947.95 $0.00 $155.87 $28,671.51
29 $28,671.51 $947.95 $0.00 $162.11 $29,781.57
30 $29,781.57 $947.95 $0.00 $168.39 $30,897.91
31 $30,897.91 $947.95 $0.00 $174.70 $32,020.56
32 $32,020.56 $947.95 $0.00 $181.05 $33,149.56
33 $33,149.56 $947.95 $0.00 $187.43 $34,284.94
34 $34,284.94 $947.95 $0.00 $193.85 $35,426.74
35 $35,426.74 $947.95 $0.00 $200.31 $36,575.00
36 $36,575.00 $947.95 $0.00 $206.80 $37,729.75
37 $37,729.75 $947.95 $0.00 $213.33 $38,891.03
38 $38,891.03 $947.95 $0.00 $219.90 $40,058.88
39 $40,058.88 $947.95 $0.00 $226.50 $41,233.33
40 $41,233.33 $947.95 $0.00 $233.14 $42,414.42
41 $42,414.42 $947.95 $0.00 $239.82 $43,602.19
42 $43,602.19 $947.95 $0.00 $246.53 $44,796.67
43 $44,796.67 $947.95 $0.00 $253.29 $45,997.91
44 $45,997.91 $947.95 $0.00 $260.08 $47,205.94
45 $47,205.94 $947.95 $0.00 $266.91 $48,420.80
46 $48,420.80 $947.95 $0.00 $273.78 $49,642.53
47 $49,642.53 $947.95 $0.00 $280.69 $50,871.17
48 $50,871.17 $947.95 $0.00 $287.63 $52,106.75
49 $52,106.75 $947.95 $0.00 $294.62 $53,349.32
50 $53,349.32 $947.95 $0.00 $301.64 $54,598.91
51 $54,598.91 $947.95 $0.00 $308.71 $55,855.57
52 $55,855.57 $947.95 $0.00 $315.82 $57,119.34
53 $57,119.34 $947.95 $0.00 $322.96 $58,390.25
54 $58,390.25 $947.95 $0.00 $330.15 $59,668.35
55 $59,668.35 $947.95 $0.00 $337.37 $60,953.67
56 $60,953.67 $947.95 $0.00 $344.64 $62,246.26
57 $62,246.26 $947.95 $0.00 $351.95 $63,546.16
58 $63,546.16 $947.95 $0.00 $359.30 $64,853.41
59 $64,853.41 $947.95 $0.00 $366.69 $66,168.05
60 $66,168.05 $947.95 $0.00 $374.12 $67,490.12
61 $67,490.12 $947.95 $0.00 $381.60 $68,819.67
62 $68,819.67 $947.95 $0.00 $389.12 $70,156.74
63 $70,156.74 $947.95 $0.00 $396.68 $71,501.37
64 $71,501.37 $947.95 $0.00 $404.28 $72,853.60
65 $72,853.60 $947.95 $0.00 $411.92 $74,213.47
66 $74,213.47 $947.95 $0.00 $419.61 $75,581.03
67 $75,581.03 $947.95 $0.00 $427.35 $76,956.33
68 $76,956.33 $947.95 $0.00 $435.12 $78,339.40
69 $78,339.40 $947.95 $0.00 $442.94 $79,730.29
70 $79,730.29 $947.95 $0.00 $450.81 $81,129.05
71 $81,129.05 $947.95 $0.00 $458.72 $82,535.72
72 $82,535.72 $947.95 $0.00 $466.67 $83,950.34
73 $83,950.34 $947.95 $0.00 $474.67 $85,372.96
74 $85,372.96 $947.95 $0.00 $482.71 $86,803.62
75 $86,803.62 $947.95 $0.00 $490.80 $88,242.37
76 $88,242.37 $947.95 $0.00 $498.94 $89,689.26
77 $89,689.26 $947.95 $0.00 $507.12 $91,144.33
78 $91,144.33 $947.95 $0.00 $515.34 $92,607.62
79 $92,607.62 $947.95 $0.00 $523.62 $94,079.19
80 $94,079.19 $947.95 $0.00 $531.94 $95,559.08
81 $95,559.08 $947.95 $0.00 $540.30 $97,047.33
82 $97,047.33 $947.95 $0.00 $548.72 $98,544.00
83 $98,544.00 $947.95 $0.00 $557.18 $100,049.13
84 $100,049.13 $947.95 $0.00 $565.69 $101,562.77
85 $101,562.77 $947.95 $0.00 $574.25 $103,084.97
86 $103,084.97 $947.95 $0.00 $582.86 $104,615.78
87 $104,615.78 $947.95 $0.00 $591.51 $106,155.24
88 $106,155.24 $947.95 $0.00 $600.22 $107,703.41
89 $107,703.41 $947.95 $0.00 $608.97 $109,260.33
90 $109,260.33 $947.95 $0.00 $617.77 $110,826.05
91 $110,826.05 $947.95 $0.00 $626.63 $112,400.63
92 $112,400.63 $947.95 $0.00 $635.53 $113,984.11
93 $113,984.11 $947.95 $0.00 $644.48 $115,576.54
94 $115,576.54 $947.95 $0.00 $653.49 $117,177.98
95 $117,177.98 $947.95 $0.00 $662.54 $118,788.47
96 $118,788.47 $947.95 $0.00 $671.65 $120,408.07
97 $120,408.07 $947.95 $0.00 $680.80 $122,036.82
98 $122,036.82 $947.95 $0.00 $690.01 $123,674.78
99 $123,674.78 $947.95 $0.00 $699.28 $125,322.01
100 $125,322.01 $947.95 $0.00 $708.59 $126,978.55
101 $126,978.55 $947.95 $0.00 $717.96 $128,644.46
102 $128,644.46 $947.95 $0.00 $727.37 $130,319.78
103 $130,319.78 $947.95 $0.00 $736.85 $132,004.58
104 $132,004.58 $947.95 $0.00 $746.37 $133,698.90
105 $133,698.90 $947.95 $0.00 $755.95 $135,402.80
106 $135,402.80 $947.95 $0.00 $765.59 $137,116.34
107 $137,116.34 $947.95 $0.00 $775.28 $138,839.57
108 $138,839.57 $947.95 $0.00 $785.02 $140,572.54
109 $140,572.54 $947.95 $0.00 $794.82 $142,315.31
110 $142,315.31 $947.95 $0.00 $804.67 $144,067.93
111 $144,067.93 $947.95 $0.00 $814.58 $145,830.46
112 $145,830.46 $947.95 $0.00 $824.55 $147,602.96
113 $147,602.96 $947.95 $0.00 $834.57 $149,385.48
114 $149,385.48 $947.95 $0.00 $844.65 $151,178.08
115 $151,178.08 $947.95 $0.00 $854.78 $152,980.81
116 $152,980.81 $947.95 $0.00 $864.98 $154,793.74
117 $154,793.74 $947.95 $0.00 $875.23 $156,616.92
118 $156,616.92 $947.95 $0.00 $885.53 $158,450.40
119 $158,450.40 $947.95 $0.00 $895.90 $160,294.25
120 $160,294.25 $947.95 $0.00 $906.33 $162,148.53
121 $162,148.53 $947.95 $0.00 $916.81 $164,013.29
122 $164,013.29 $947.95 $0.00 $927.35 $165,888.59
123 $165,888.59 $947.95 $0.00 $937.96 $167,774.50
124 $167,774.50 $947.95 $0.00 $948.62 $169,671.07
125 $169,671.07 $947.95 $0.00 $959.34 $171,578.36
126 $171,578.36 $947.95 $0.00 $970.13 $173,496.44
127 $173,496.44 $947.95 $0.00 $980.97 $175,425.36
128 $175,425.36 $947.95 $0.00 $991.88 $177,365.19
129 $177,365.19 $947.95 $0.00 $1,002.85 $179,315.99
130 $179,315.99 $947.95 $0.00 $1,013.88 $181,277.82
131 $181,277.82 $947.95 $0.00 $1,024.97 $183,250.74
132 $183,250.74 $947.95 $0.00 $1,036.13 $185,234.82
133 $185,234.82 $947.95 $0.00 $1,047.34 $187,230.11
134 $187,230.11 $947.95 $0.00 $1,058.63 $189,236.69
135 $189,236.69 $947.95 $0.00 $1,069.97 $191,254.61
136 $191,254.61 $947.95 $0.00 $1,081.38 $193,283.94
137 $193,283.94 $947.95 $0.00 $1,092.86 $195,324.75
138 $195,324.75 $947.95 $0.00 $1,104.39 $197,377.09
139 $197,377.09 $947.95 $0.00 $1,116.00 $199,441.04
140 $199,441.04 $947.95 $0.00 $1,127.67 $201,516.66
141 $201,516.66 $947.95 $0.00 $1,139.40 $203,604.01
142 $203,604.01 $947.95 $0.00 $1,151.21 $205,703.17
143 $205,703.17 $947.95 $0.00 $1,163.08 $207,814.20
144 $207,814.20 $947.95 $0.00 $1,175.01 $209,937.16
145 $209,937.16 $947.95 $0.00 $1,187.02 $212,072.13
146 $212,072.13 $947.95 $0.00 $1,199.09 $214,219.17
147 $214,219.17 $947.95 $0.00 $1,211.23 $216,378.35
148 $216,378.35 $947.95 $0.00 $1,223.43 $218,549.73
149 $218,549.73 $947.95 $0.00 $1,235.71 $220,733.39
150 $220,733.39 $947.95 $0.00 $1,248.06 $222,929.40
151 $222,929.40 $947.95 $0.00 $1,260.48 $225,137.83
152 $225,137.83 $947.95 $0.00 $1,272.96 $227,358.74
153 $227,358.74 $947.95 $0.00 $1,285.52 $229,592.21
154 $229,592.21 $947.95 $0.00 $1,298.15 $231,838.31
155 $231,838.31 $947.95 $0.00 $1,310.85 $234,097.11
156 $234,097.11 $947.95 $0.00 $1,323.62 $236,368.68
157 $236,368.68 $947.95 $0.00 $1,336.46 $238,653.09
158 $238,653.09 $947.95 $0.00 $1,349.38 $240,950.42
159 $240,950.42 $947.95 $0.00 $1,362.37 $243,260.74
160 $243,260.74 $947.95 $0.00 $1,375.43 $245,584.12
161 $245,584.12 $947.95 $0.00 $1,388.57 $247,920.64
162 $247,920.64 $947.95 $0.00 $1,401.78 $250,270.37
163 $250,270.37 $947.95 $0.00 $1,415.07 $252,633.39
164 $252,633.39 $947.95 $0.00 $1,428.43 $255,009.77
165 $255,009.77 $947.95 $0.00 $1,441.86 $257,399.58
166 $257,399.58 $947.95 $0.00 $1,455.37 $259,802.90
167 $259,802.90 $947.95 $0.00 $1,468.96 $262,219.81
168 $262,219.81 $947.95 $0.00 $1,482.63 $264,650.39
169 $264,650.39 $947.95 $0.00 $1,496.37 $267,094.71
170 $267,094.71 $947.95 $0.00 $1,510.19 $269,552.85
171 $269,552.85 $947.95 $0.00 $1,524.09 $272,024.89
172 $272,024.89 $947.95 $0.00 $1,538.07 $274,510.91
173 $274,510.91 $947.95 $0.00 $1,552.12 $277,010.98
174 $277,010.98 $947.95 $0.00 $1,566.26 $279,525.19
175 $279,525.19 $947.95 $0.00 $1,580.48 $282,053.62
176 $282,053.62 $947.95 $0.00 $1,594.77 $284,596.34
177 $284,596.34 $947.95 $0.00 $1,609.15 $287,153.44
178 $287,153.44 $947.95 $0.00 $1,623.61 $289,725.00
179 $289,725.00 $947.95 $0.00 $1,638.15 $292,311.10
180 $292,311.10 $947.95 $0.00 $1,652.77 $294,911.82
181 $294,911.82 $947.95 $0.00 $1,667.47 $297,527.24
182 $297,527.24 $947.95 $0.00 $1,682.26 $300,157.45
183 $300,157.45 $947.95 $0.00 $1,697.13 $302,802.53
184 $302,802.53 $947.95 $0.00 $1,712.09 $305,462.57
185 $305,462.57 $947.95 $0.00 $1,727.13 $308,137.65
186 $308,137.65 $947.95 $0.00 $1,742.26 $310,827.86
187 $310,827.86 $947.95 $0.00 $1,757.47 $313,533.28
188 $313,533.28 $947.95 $0.00 $1,772.76 $316,253.99
189 $316,253.99 $947.95 $0.00 $1,788.15 $318,990.09
190 $318,990.09 $947.95 $0.00 $1,803.62 $321,741.66
191 $321,741.66 $947.95 $0.00 $1,819.17 $324,508.78
192 $324,508.78 $947.95 $0.00 $1,834.82 $327,291.55
193 $327,291.55 $947.95 $0.00 $1,850.55 $330,090.05
194 $330,090.05 $947.95 $0.00 $1,866.38 $332,904.38
195 $332,904.38 $947.95 $0.00 $1,882.29 $335,734.62
196 $335,734.62 $947.95 $0.00 $1,898.29 $338,580.86
197 $338,580.86 $947.95 $0.00 $1,914.39 $341,443.20
198 $341,443.20 $947.95 $0.00 $1,930.57 $344,321.72
199 $344,321.72 $947.95 $0.00 $1,946.85 $347,216.52
200 $347,216.52 $947.95 $0.00 $1,963.21 $350,127.68
201 $350,127.68 $947.95 $0.00 $1,979.67 $353,055.30
202 $353,055.30 $947.95 $0.00 $1,996.23 $355,999.48
203 $355,999.48 $947.95 $0.00 $2,012.87 $358,960.30
204 $358,960.30 $947.95 $0.00 $2,029.61 $361,937.86
205 $361,937.86 $947.95 $0.00 $2,046.45 $364,932.26
206 $364,932.26 $947.95 $0.00 $2,063.38 $367,943.59
207 $367,943.59 $947.95 $0.00 $2,080.41 $370,971.95
208 $370,971.95 $947.95 $0.00 $2,097.53 $374,017.43
209 $374,017.43 $947.95 $0.00 $2,114.75 $377,080.13
210 $377,080.13 $947.95 $0.00 $2,132.07 $380,160.15
211 $380,160.15 $947.95 $0.00 $2,149.48 $383,257.58
212 $383,257.58 $947.95 $0.00 $2,166.99 $386,372.52
213 $386,372.52 $947.95 $0.00 $2,184.61 $389,505.08
214 $389,505.08 $947.95 $0.00 $2,202.32 $392,655.35
215 $392,655.35 $947.95 $0.00 $2,220.13 $395,823.43
216 $395,823.43 $947.95 $0.00 $2,238.04 $399,009.42
217 $399,009.42 $947.95 $111,137.68 $2,256.06 $291,075.75
218 $291,075.75 $947.95 $0.00 $1,645.78 $293,669.48
219 $293,669.48 $947.95 $0.00 $1,660.45 $296,277.88
220 $296,277.88 $947.95 $0.00 $1,675.20 $298,901.03
221 $298,901.03 $947.95 $0.00 $1,690.03 $301,539.01
222 $301,539.01 $947.95 $0.00 $1,704.95 $304,191.91
223 $304,191.91 $947.95 $0.00 $1,719.95 $306,859.81
224 $306,859.81 $947.95 $0.00 $1,735.03 $309,542.79
225 $309,542.79 $947.95 $0.00 $1,750.20 $312,240.94
226 $312,240.94 $947.95 $0.00 $1,765.46 $314,954.35
227 $314,954.35 $947.95 $0.00 $1,780.80 $317,683.10
228 $317,683.10 $947.95 $0.00 $1,796.23 $320,427.28
229 $320,427.28 $947.95 $116,694.56 $1,811.74 $206,492.41
230 $206,492.41 $947.95 $0.00 $1,167.54 $208,607.90
231 $208,607.90 $947.95 $0.00 $1,179.50 $210,735.35
232 $210,735.35 $947.95 $0.00 $1,191.53 $212,874.83
233 $212,874.83 $947.95 $0.00 $1,203.63 $215,026.41
234 $215,026.41 $947.95 $0.00 $1,215.79 $217,190.15
235 $217,190.15 $947.95 $0.00 $1,228.02 $219,366.12
236 $219,366.12 $947.95 $0.00 $1,240.33 $221,554.40
237 $221,554.40 $947.95 $0.00 $1,252.70 $223,755.05
238 $223,755.05 $947.95 $0.00 $1,265.14 $225,968.14
239 $225,968.14 $947.95 $0.00 $1,277.66 $228,193.75
240 $228,193.75 $947.95 $0.00 $1,290.24 $230,431.94
241 $230,431.94 $947.95 $122,529.29 $1,302.90 $110,153.50
242 $110,153.50 $947.95 $0.00 $622.82 $111,724.27
243 $111,724.27 $947.95 $0.00 $631.71 $113,303.93
244 $113,303.93 $947.95 $0.00 $640.64 $114,892.52
245 $114,892.52 $947.95 $0.00 $649.62 $116,490.09
246 $116,490.09 $947.95 $0.00 $658.65 $118,096.69
247 $118,096.69 $947.95 $0.00 $667.74 $119,712.38
248 $119,712.38 $947.95 $0.00 $676.87 $121,337.20
249 $121,337.20 $947.95 $0.00 $686.06 $122,971.21
250 $122,971.21 $947.95 $0.00 $695.30 $124,614.46
251 $124,614.46 $947.95 $0.00 $704.59 $126,267.00
252 $126,267.00 $947.95 $0.00 $713.93 $127,928.88
253 $127,928.88 $0.00 $128,655.75 $723.33 ($3.54)