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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$28,018
Monthly savings required$125

How much will it cost to send your child to Okefenokee Technical College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $56,035.48 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $124.51 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$11,358.00
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 $124.51 $0.00 $0.00 $124.51
2 $124.51 $124.51 $0.00 $0.70 $249.72
3 $249.72 $124.51 $0.00 $1.41 $375.64
4 $375.64 $124.51 $0.00 $2.12 $502.27
5 $502.27 $124.51 $0.00 $2.84 $629.62
6 $629.62 $124.51 $0.00 $3.56 $757.69
7 $757.69 $124.51 $0.00 $4.28 $886.48
8 $886.48 $124.51 $0.00 $5.01 $1,016.00
9 $1,016.00 $124.51 $0.00 $5.74 $1,146.25
10 $1,146.25 $124.51 $0.00 $6.48 $1,277.24
11 $1,277.24 $124.51 $0.00 $7.22 $1,408.97
12 $1,408.97 $124.51 $0.00 $7.97 $1,541.45
13 $1,541.45 $124.51 $0.00 $8.72 $1,674.68
14 $1,674.68 $124.51 $0.00 $9.47 $1,808.66
15 $1,808.66 $124.51 $0.00 $10.23 $1,943.40
16 $1,943.40 $124.51 $0.00 $10.99 $2,078.90
17 $2,078.90 $124.51 $0.00 $11.75 $2,215.16
18 $2,215.16 $124.51 $0.00 $12.52 $2,352.19
19 $2,352.19 $124.51 $0.00 $13.30 $2,490.00
20 $2,490.00 $124.51 $0.00 $14.08 $2,628.59
21 $2,628.59 $124.51 $0.00 $14.86 $2,767.96
22 $2,767.96 $124.51 $0.00 $15.65 $2,908.12
23 $2,908.12 $124.51 $0.00 $16.44 $3,049.07
24 $3,049.07 $124.51 $0.00 $17.24 $3,190.82
25 $3,190.82 $124.51 $0.00 $18.04 $3,333.37
26 $3,333.37 $124.51 $0.00 $18.85 $3,476.73
27 $3,476.73 $124.51 $0.00 $19.66 $3,620.90
28 $3,620.90 $124.51 $0.00 $20.47 $3,765.88
29 $3,765.88 $124.51 $0.00 $21.29 $3,911.68
30 $3,911.68 $124.51 $0.00 $22.12 $4,058.31
31 $4,058.31 $124.51 $0.00 $22.95 $4,205.77
32 $4,205.77 $124.51 $0.00 $23.78 $4,354.06
33 $4,354.06 $124.51 $0.00 $24.62 $4,503.19
34 $4,503.19 $124.51 $0.00 $25.46 $4,653.16
35 $4,653.16 $124.51 $0.00 $26.31 $4,803.98
36 $4,803.98 $124.51 $0.00 $27.16 $4,955.65
37 $4,955.65 $124.51 $0.00 $28.02 $5,108.18
38 $5,108.18 $124.51 $0.00 $28.88 $5,261.57
39 $5,261.57 $124.51 $0.00 $29.75 $5,415.83
40 $5,415.83 $124.51 $0.00 $30.62 $5,570.96
41 $5,570.96 $124.51 $0.00 $31.50 $5,726.97
42 $5,726.97 $124.51 $0.00 $32.38 $5,883.86
43 $5,883.86 $124.51 $0.00 $33.27 $6,041.64
44 $6,041.64 $124.51 $0.00 $34.16 $6,200.31
45 $6,200.31 $124.51 $0.00 $35.06 $6,359.88
46 $6,359.88 $124.51 $0.00 $35.96 $6,520.35
47 $6,520.35 $124.51 $0.00 $36.87 $6,681.73
48 $6,681.73 $124.51 $0.00 $37.78 $6,844.02
49 $6,844.02 $124.51 $0.00 $38.70 $7,007.23
50 $7,007.23 $124.51 $0.00 $39.62 $7,171.36
51 $7,171.36 $124.51 $0.00 $40.55 $7,336.42
52 $7,336.42 $124.51 $0.00 $41.48 $7,502.41
53 $7,502.41 $124.51 $0.00 $42.42 $7,669.34
54 $7,669.34 $124.51 $0.00 $43.36 $7,837.21
55 $7,837.21 $124.51 $0.00 $44.31 $8,006.03
56 $8,006.03 $124.51 $0.00 $45.27 $8,175.81
57 $8,175.81 $124.51 $0.00 $46.23 $8,346.55
58 $8,346.55 $124.51 $0.00 $47.19 $8,518.25
59 $8,518.25 $124.51 $0.00 $48.16 $8,690.92
60 $8,690.92 $124.51 $0.00 $49.14 $8,864.57
61 $8,864.57 $124.51 $0.00 $50.12 $9,039.20
62 $9,039.20 $124.51 $0.00 $51.11 $9,214.82
63 $9,214.82 $124.51 $0.00 $52.10 $9,391.43
64 $9,391.43 $124.51 $0.00 $53.10 $9,569.04
65 $9,569.04 $124.51 $0.00 $54.10 $9,747.65
66 $9,747.65 $124.51 $0.00 $55.11 $9,927.27
67 $9,927.27 $124.51 $0.00 $56.13 $10,107.91
68 $10,107.91 $124.51 $0.00 $57.15 $10,289.57
69 $10,289.57 $124.51 $0.00 $58.18 $10,472.26
70 $10,472.26 $124.51 $0.00 $59.21 $10,655.98
71 $10,655.98 $124.51 $0.00 $60.25 $10,840.74
72 $10,840.74 $124.51 $0.00 $61.30 $11,026.55
73 $11,026.55 $124.51 $0.00 $62.35 $11,213.41
74 $11,213.41 $124.51 $0.00 $63.40 $11,401.32
75 $11,401.32 $124.51 $0.00 $64.46 $11,590.29
76 $11,590.29 $124.51 $0.00 $65.53 $11,780.33
77 $11,780.33 $124.51 $0.00 $66.61 $11,971.45
78 $11,971.45 $124.51 $0.00 $67.69 $12,163.65
79 $12,163.65 $124.51 $0.00 $68.78 $12,356.94
80 $12,356.94 $124.51 $0.00 $69.87 $12,551.32
81 $12,551.32 $124.51 $0.00 $70.97 $12,746.80
82 $12,746.80 $124.51 $0.00 $72.07 $12,943.38
83 $12,943.38 $124.51 $0.00 $73.18 $13,141.07
84 $13,141.07 $124.51 $0.00 $74.30 $13,339.88
85 $13,339.88 $124.51 $0.00 $75.43 $13,539.82
86 $13,539.82 $124.51 $0.00 $76.56 $13,740.89
87 $13,740.89 $124.51 $0.00 $77.69 $13,943.09
88 $13,943.09 $124.51 $0.00 $78.84 $14,146.44
89 $14,146.44 $124.51 $0.00 $79.99 $14,350.94
90 $14,350.94 $124.51 $0.00 $81.14 $14,556.59
91 $14,556.59 $124.51 $0.00 $82.31 $14,763.41
92 $14,763.41 $124.51 $0.00 $83.47 $14,971.39
93 $14,971.39 $124.51 $0.00 $84.65 $15,180.55
94 $15,180.55 $124.51 $0.00 $85.83 $15,390.89
95 $15,390.89 $124.51 $0.00 $87.02 $15,602.42
96 $15,602.42 $124.51 $0.00 $88.22 $15,815.15
97 $15,815.15 $124.51 $0.00 $89.42 $16,029.08
98 $16,029.08 $124.51 $0.00 $90.63 $16,244.22
99 $16,244.22 $124.51 $0.00 $91.85 $16,460.58
100 $16,460.58 $124.51 $0.00 $93.07 $16,678.16
101 $16,678.16 $124.51 $0.00 $94.30 $16,896.97
102 $16,896.97 $124.51 $0.00 $95.54 $17,117.02
103 $17,117.02 $124.51 $0.00 $96.78 $17,338.31
104 $17,338.31 $124.51 $0.00 $98.03 $17,560.85
105 $17,560.85 $124.51 $0.00 $99.29 $17,784.65
106 $17,784.65 $124.51 $0.00 $100.56 $18,009.72
107 $18,009.72 $124.51 $0.00 $101.83 $18,236.06
108 $18,236.06 $124.51 $0.00 $103.11 $18,463.68
109 $18,463.68 $124.51 $0.00 $104.40 $18,692.59
110 $18,692.59 $124.51 $0.00 $105.69 $18,922.79
111 $18,922.79 $124.51 $0.00 $106.99 $19,154.29
112 $19,154.29 $124.51 $0.00 $108.30 $19,387.10
113 $19,387.10 $124.51 $0.00 $109.62 $19,621.23
114 $19,621.23 $124.51 $0.00 $110.94 $19,856.68
115 $19,856.68 $124.51 $0.00 $112.27 $20,093.46
116 $20,093.46 $124.51 $0.00 $113.61 $20,331.58
117 $20,331.58 $124.51 $0.00 $114.96 $20,571.05
118 $20,571.05 $124.51 $0.00 $116.31 $20,811.87
119 $20,811.87 $124.51 $0.00 $117.67 $21,054.05
120 $21,054.05 $124.51 $0.00 $119.04 $21,297.60
121 $21,297.60 $124.51 $0.00 $120.42 $21,542.53
122 $21,542.53 $124.51 $0.00 $121.80 $21,788.84
123 $21,788.84 $124.51 $0.00 $123.20 $22,036.55
124 $22,036.55 $124.51 $0.00 $124.60 $22,285.66
125 $22,285.66 $124.51 $0.00 $126.01 $22,536.18
126 $22,536.18 $124.51 $0.00 $127.42 $22,788.11
127 $22,788.11 $124.51 $0.00 $128.85 $23,041.47
128 $23,041.47 $124.51 $0.00 $130.28 $23,296.26
129 $23,296.26 $124.51 $0.00 $131.72 $23,552.49
130 $23,552.49 $124.51 $0.00 $133.17 $23,810.17
131 $23,810.17 $124.51 $0.00 $134.63 $24,069.31
132 $24,069.31 $124.51 $0.00 $136.09 $24,329.91
133 $24,329.91 $124.51 $0.00 $137.56 $24,591.98
134 $24,591.98 $124.51 $0.00 $139.05 $24,855.54
135 $24,855.54 $124.51 $0.00 $140.54 $25,120.59
136 $25,120.59 $124.51 $0.00 $142.04 $25,387.14
137 $25,387.14 $124.51 $0.00 $143.54 $25,655.19
138 $25,655.19 $124.51 $0.00 $145.06 $25,924.76
139 $25,924.76 $124.51 $0.00 $146.58 $26,195.85
140 $26,195.85 $124.51 $0.00 $148.12 $26,468.48
141 $26,468.48 $124.51 $0.00 $149.66 $26,742.65
142 $26,742.65 $124.51 $0.00 $151.21 $27,018.37
143 $27,018.37 $124.51 $0.00 $152.77 $27,295.65
144 $27,295.65 $124.51 $0.00 $154.33 $27,574.49
145 $27,574.49 $124.51 $0.00 $155.91 $27,854.91
146 $27,854.91 $124.51 $0.00 $157.50 $28,136.92
147 $28,136.92 $124.51 $0.00 $159.09 $28,420.52
148 $28,420.52 $124.51 $0.00 $160.69 $28,705.72
149 $28,705.72 $124.51 $0.00 $162.31 $28,992.54
150 $28,992.54 $124.51 $0.00 $163.93 $29,280.98
151 $29,280.98 $124.51 $0.00 $165.56 $29,571.05
152 $29,571.05 $124.51 $0.00 $167.20 $29,862.76
153 $29,862.76 $124.51 $0.00 $168.85 $30,156.12
154 $30,156.12 $124.51 $0.00 $170.51 $30,451.14
155 $30,451.14 $124.51 $0.00 $172.18 $30,747.83
156 $30,747.83 $124.51 $0.00 $173.85 $31,046.19
157 $31,046.19 $124.51 $0.00 $175.54 $31,346.24
158 $31,346.24 $124.51 $0.00 $177.24 $31,647.99
159 $31,647.99 $124.51 $0.00 $178.94 $31,951.44
160 $31,951.44 $124.51 $0.00 $180.66 $32,256.61
161 $32,256.61 $124.51 $0.00 $182.38 $32,563.50
162 $32,563.50 $124.51 $0.00 $184.12 $32,872.13
163 $32,872.13 $124.51 $0.00 $185.86 $33,182.50
164 $33,182.50 $124.51 $0.00 $187.62 $33,494.63
165 $33,494.63 $124.51 $0.00 $189.38 $33,808.52
166 $33,808.52 $124.51 $0.00 $191.16 $34,124.19
167 $34,124.19 $124.51 $0.00 $192.94 $34,441.64
168 $34,441.64 $124.51 $0.00 $194.74 $34,760.89
169 $34,760.89 $124.51 $0.00 $196.54 $35,081.94
170 $35,081.94 $124.51 $0.00 $198.36 $35,404.81
171 $35,404.81 $124.51 $0.00 $200.18 $35,729.50
172 $35,729.50 $124.51 $0.00 $202.02 $36,056.03
173 $36,056.03 $124.51 $0.00 $203.87 $36,384.41
174 $36,384.41 $124.51 $0.00 $205.72 $36,714.64
175 $36,714.64 $124.51 $0.00 $207.59 $37,046.74
176 $37,046.74 $124.51 $0.00 $209.47 $37,380.72
177 $37,380.72 $124.51 $0.00 $211.36 $37,716.59
178 $37,716.59 $124.51 $0.00 $213.26 $38,054.36
179 $38,054.36 $124.51 $0.00 $215.16 $38,394.03
180 $38,394.03 $124.51 $0.00 $217.09 $38,735.63
181 $38,735.63 $124.51 $0.00 $219.02 $39,079.16
182 $39,079.16 $124.51 $0.00 $220.96 $39,424.63
183 $39,424.63 $124.51 $0.00 $222.91 $39,772.05
184 $39,772.05 $124.51 $0.00 $224.88 $40,121.44
185 $40,121.44 $124.51 $0.00 $226.85 $40,472.80
186 $40,472.80 $124.51 $0.00 $228.84 $40,826.15
187 $40,826.15 $124.51 $0.00 $230.84 $41,181.50
188 $41,181.50 $124.51 $0.00 $232.85 $41,538.86
189 $41,538.86 $124.51 $0.00 $234.87 $41,898.24
190 $41,898.24 $124.51 $0.00 $236.90 $42,259.65
191 $42,259.65 $124.51 $0.00 $238.94 $42,623.10
192 $42,623.10 $124.51 $0.00 $241.00 $42,988.61
193 $42,988.61 $124.51 $0.00 $243.06 $43,356.18
194 $43,356.18 $124.51 $0.00 $245.14 $43,725.83
195 $43,725.83 $124.51 $0.00 $247.23 $44,097.57
196 $44,097.57 $124.51 $0.00 $249.33 $44,471.41
197 $44,471.41 $124.51 $0.00 $251.45 $44,847.37
198 $44,847.37 $124.51 $0.00 $253.57 $45,225.45
199 $45,225.45 $124.51 $0.00 $255.71 $45,605.67
200 $45,605.67 $124.51 $0.00 $257.86 $45,988.04
201 $45,988.04 $124.51 $0.00 $260.02 $46,372.57
202 $46,372.57 $124.51 $0.00 $262.20 $46,759.28
203 $46,759.28 $124.51 $0.00 $264.38 $47,148.17
204 $47,148.17 $124.51 $0.00 $266.58 $47,539.26
205 $47,539.26 $124.51 $0.00 $268.79 $47,932.56
206 $47,932.56 $124.51 $0.00 $271.02 $48,328.09
207 $48,328.09 $124.51 $0.00 $273.25 $48,725.85
208 $48,725.85 $124.51 $0.00 $275.50 $49,125.86
209 $49,125.86 $124.51 $0.00 $277.76 $49,528.13
210 $49,528.13 $124.51 $0.00 $280.04 $49,932.68
211 $49,932.68 $124.51 $0.00 $282.33 $50,339.52
212 $50,339.52 $124.51 $0.00 $284.63 $50,748.66
213 $50,748.66 $124.51 $0.00 $286.94 $51,160.11
214 $51,160.11 $124.51 $0.00 $289.27 $51,573.89
215 $51,573.89 $124.51 $0.00 $291.61 $51,990.01
216 $51,990.01 $124.51 $0.00 $293.96 $52,408.48
217 $52,408.48 $124.51 $27,334.38 $296.33 $25,494.94
218 $25,494.94 $124.51 $0.00 $144.15 $25,763.60
219 $25,763.60 $124.51 $0.00 $145.67 $26,033.78
220 $26,033.78 $124.51 $0.00 $147.20 $26,305.49
221 $26,305.49 $124.51 $0.00 $148.74 $26,578.74
222 $26,578.74 $124.51 $0.00 $150.28 $26,853.53
223 $26,853.53 $124.51 $0.00 $151.83 $27,129.87
224 $27,129.87 $124.51 $0.00 $153.40 $27,407.78
225 $27,407.78 $124.51 $0.00 $154.97 $27,687.26
226 $27,687.26 $124.51 $0.00 $156.55 $27,968.32
227 $27,968.32 $124.51 $0.00 $158.14 $28,250.97
228 $28,250.97 $124.51 $0.00 $159.74 $28,535.22
229 $28,535.22 $0.00 $28,701.10 $161.34 ($4.54)