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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$46,899
Monthly savings required$208

How much will it cost to send your child to College of Lake County in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $93,797.02 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $208.43 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$19,012.00
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 $208.43 $0.00 $0.00 $208.43
2 $208.43 $208.43 $0.00 $1.18 $418.04
3 $418.04 $208.43 $0.00 $2.36 $628.83
4 $628.83 $208.43 $0.00 $3.56 $840.82
5 $840.82 $208.43 $0.00 $4.75 $1,054.00
6 $1,054.00 $208.43 $0.00 $5.96 $1,268.39
7 $1,268.39 $208.43 $0.00 $7.17 $1,483.99
8 $1,483.99 $208.43 $0.00 $8.39 $1,700.81
9 $1,700.81 $208.43 $0.00 $9.62 $1,918.86
10 $1,918.86 $208.43 $0.00 $10.85 $2,138.14
11 $2,138.14 $208.43 $0.00 $12.09 $2,358.66
12 $2,358.66 $208.43 $0.00 $13.34 $2,580.43
13 $2,580.43 $208.43 $0.00 $14.59 $2,803.45
14 $2,803.45 $208.43 $0.00 $15.85 $3,027.73
15 $3,027.73 $208.43 $0.00 $17.12 $3,253.28
16 $3,253.28 $208.43 $0.00 $18.39 $3,480.10
17 $3,480.10 $208.43 $0.00 $19.68 $3,708.21
18 $3,708.21 $208.43 $0.00 $20.97 $3,937.61
19 $3,937.61 $208.43 $0.00 $22.26 $4,168.30
20 $4,168.30 $208.43 $0.00 $23.57 $4,400.30
21 $4,400.30 $208.43 $0.00 $24.88 $4,633.61
22 $4,633.61 $208.43 $0.00 $26.20 $4,868.24
23 $4,868.24 $208.43 $0.00 $27.53 $5,104.20
24 $5,104.20 $208.43 $0.00 $28.86 $5,341.49
25 $5,341.49 $208.43 $0.00 $30.20 $5,580.12
26 $5,580.12 $208.43 $0.00 $31.55 $5,820.10
27 $5,820.10 $208.43 $0.00 $32.91 $6,061.44
28 $6,061.44 $208.43 $0.00 $34.27 $6,304.14
29 $6,304.14 $208.43 $0.00 $35.64 $6,548.21
30 $6,548.21 $208.43 $0.00 $37.02 $6,793.66
31 $6,793.66 $208.43 $0.00 $38.41 $7,040.50
32 $7,040.50 $208.43 $0.00 $39.81 $7,288.74
33 $7,288.74 $208.43 $0.00 $41.21 $7,538.38
34 $7,538.38 $208.43 $0.00 $42.62 $7,789.43
35 $7,789.43 $208.43 $0.00 $44.04 $8,041.90
36 $8,041.90 $208.43 $0.00 $45.47 $8,295.80
37 $8,295.80 $208.43 $0.00 $46.91 $8,551.14
38 $8,551.14 $208.43 $0.00 $48.35 $8,807.92
39 $8,807.92 $208.43 $0.00 $49.80 $9,066.15
40 $9,066.15 $208.43 $0.00 $51.26 $9,325.84
41 $9,325.84 $208.43 $0.00 $52.73 $9,587.00
42 $9,587.00 $208.43 $0.00 $54.21 $9,849.64
43 $9,849.64 $208.43 $0.00 $55.69 $10,113.76
44 $10,113.76 $208.43 $0.00 $57.18 $10,379.37
45 $10,379.37 $208.43 $0.00 $58.69 $10,646.49
46 $10,646.49 $208.43 $0.00 $60.20 $10,915.12
47 $10,915.12 $208.43 $0.00 $61.72 $11,185.27
48 $11,185.27 $208.43 $0.00 $63.24 $11,456.94
49 $11,456.94 $208.43 $0.00 $64.78 $11,730.15
50 $11,730.15 $208.43 $0.00 $66.32 $12,004.90
51 $12,004.90 $208.43 $0.00 $67.88 $12,281.21
52 $12,281.21 $208.43 $0.00 $69.44 $12,559.08
53 $12,559.08 $208.43 $0.00 $71.01 $12,838.52
54 $12,838.52 $208.43 $0.00 $72.59 $13,119.54
55 $13,119.54 $208.43 $0.00 $74.18 $13,402.15
56 $13,402.15 $208.43 $0.00 $75.78 $13,686.36
57 $13,686.36 $208.43 $0.00 $77.38 $13,972.17
58 $13,972.17 $208.43 $0.00 $79.00 $14,259.60
59 $14,259.60 $208.43 $0.00 $80.63 $14,548.66
60 $14,548.66 $208.43 $0.00 $82.26 $14,839.35
61 $14,839.35 $208.43 $0.00 $83.90 $15,131.68
62 $15,131.68 $208.43 $0.00 $85.56 $15,425.67
63 $15,425.67 $208.43 $0.00 $87.22 $15,721.32
64 $15,721.32 $208.43 $0.00 $88.89 $16,018.64
65 $16,018.64 $208.43 $0.00 $90.57 $16,317.64
66 $16,317.64 $208.43 $0.00 $92.26 $16,618.33
67 $16,618.33 $208.43 $0.00 $93.96 $16,920.72
68 $16,920.72 $208.43 $0.00 $95.67 $17,224.82
69 $17,224.82 $208.43 $0.00 $97.39 $17,530.64
70 $17,530.64 $208.43 $0.00 $99.12 $17,838.19
71 $17,838.19 $208.43 $0.00 $100.86 $18,147.48
72 $18,147.48 $208.43 $0.00 $102.61 $18,458.52
73 $18,458.52 $208.43 $0.00 $104.37 $18,771.32
74 $18,771.32 $208.43 $0.00 $106.14 $19,085.89
75 $19,085.89 $208.43 $0.00 $107.91 $19,402.23
76 $19,402.23 $208.43 $0.00 $109.70 $19,720.36
77 $19,720.36 $208.43 $0.00 $111.50 $20,040.29
78 $20,040.29 $208.43 $0.00 $113.31 $20,362.03
79 $20,362.03 $208.43 $0.00 $115.13 $20,685.59
80 $20,685.59 $208.43 $0.00 $116.96 $21,010.98
81 $21,010.98 $208.43 $0.00 $118.80 $21,338.21
82 $21,338.21 $208.43 $0.00 $120.65 $21,667.29
83 $21,667.29 $208.43 $0.00 $122.51 $21,998.23
84 $21,998.23 $208.43 $0.00 $124.38 $22,331.04
85 $22,331.04 $208.43 $0.00 $126.26 $22,665.73
86 $22,665.73 $208.43 $0.00 $128.16 $23,002.32
87 $23,002.32 $208.43 $0.00 $130.06 $23,340.81
88 $23,340.81 $208.43 $0.00 $131.97 $23,681.21
89 $23,681.21 $208.43 $0.00 $133.90 $24,023.54
90 $24,023.54 $208.43 $0.00 $135.83 $24,367.80
91 $24,367.80 $208.43 $0.00 $137.78 $24,714.01
92 $24,714.01 $208.43 $0.00 $139.74 $25,062.18
93 $25,062.18 $208.43 $0.00 $141.71 $25,412.32
94 $25,412.32 $208.43 $0.00 $143.68 $25,764.43
95 $25,764.43 $208.43 $0.00 $145.68 $26,118.54
96 $26,118.54 $208.43 $0.00 $147.68 $26,474.65
97 $26,474.65 $208.43 $0.00 $149.69 $26,832.77
98 $26,832.77 $208.43 $0.00 $151.72 $27,192.92
99 $27,192.92 $208.43 $0.00 $153.75 $27,555.10
100 $27,555.10 $208.43 $0.00 $155.80 $27,919.33
101 $27,919.33 $208.43 $0.00 $157.86 $28,285.62
102 $28,285.62 $208.43 $0.00 $159.93 $28,653.98
103 $28,653.98 $208.43 $0.00 $162.01 $29,024.42
104 $29,024.42 $208.43 $0.00 $164.11 $29,396.96
105 $29,396.96 $208.43 $0.00 $166.21 $29,771.60
106 $29,771.60 $208.43 $0.00 $168.33 $30,148.36
107 $30,148.36 $208.43 $0.00 $170.46 $30,527.25
108 $30,527.25 $208.43 $0.00 $172.61 $30,908.29
109 $30,908.29 $208.43 $0.00 $174.76 $31,291.48
110 $31,291.48 $208.43 $0.00 $176.93 $31,676.84
111 $31,676.84 $208.43 $0.00 $179.11 $32,064.38
112 $32,064.38 $208.43 $0.00 $181.30 $32,454.11
113 $32,454.11 $208.43 $0.00 $183.50 $32,846.04
114 $32,846.04 $208.43 $0.00 $185.72 $33,240.19
115 $33,240.19 $208.43 $0.00 $187.94 $33,636.56
116 $33,636.56 $208.43 $0.00 $190.19 $34,035.18
117 $34,035.18 $208.43 $0.00 $192.44 $34,436.05
118 $34,436.05 $208.43 $0.00 $194.71 $34,839.19
119 $34,839.19 $208.43 $0.00 $196.99 $35,244.61
120 $35,244.61 $208.43 $0.00 $199.28 $35,652.32
121 $35,652.32 $208.43 $0.00 $201.58 $36,062.33
122 $36,062.33 $208.43 $0.00 $203.90 $36,474.66
123 $36,474.66 $208.43 $0.00 $206.23 $36,889.32
124 $36,889.32 $208.43 $0.00 $208.58 $37,306.33
125 $37,306.33 $208.43 $0.00 $210.94 $37,725.70
126 $37,725.70 $208.43 $0.00 $213.31 $38,147.44
127 $38,147.44 $208.43 $0.00 $215.69 $38,571.56
128 $38,571.56 $208.43 $0.00 $218.09 $38,998.08
129 $38,998.08 $208.43 $0.00 $220.50 $39,427.01
130 $39,427.01 $208.43 $0.00 $222.93 $39,858.37
131 $39,858.37 $208.43 $0.00 $225.37 $40,292.17
132 $40,292.17 $208.43 $0.00 $227.82 $40,728.42
133 $40,728.42 $208.43 $0.00 $230.28 $41,167.13
134 $41,167.13 $208.43 $0.00 $232.76 $41,608.32
135 $41,608.32 $208.43 $0.00 $235.26 $42,052.01
136 $42,052.01 $208.43 $0.00 $237.77 $42,498.21
137 $42,498.21 $208.43 $0.00 $240.29 $42,946.93
138 $42,946.93 $208.43 $0.00 $242.83 $43,398.19
139 $43,398.19 $208.43 $0.00 $245.38 $43,852.00
140 $43,852.00 $208.43 $0.00 $247.95 $44,308.38
141 $44,308.38 $208.43 $0.00 $250.53 $44,767.34
142 $44,767.34 $208.43 $0.00 $253.12 $45,228.89
143 $45,228.89 $208.43 $0.00 $255.73 $45,693.05
144 $45,693.05 $208.43 $0.00 $258.36 $46,159.84
145 $46,159.84 $208.43 $0.00 $260.99 $46,629.26
146 $46,629.26 $208.43 $0.00 $263.65 $47,101.34
147 $47,101.34 $208.43 $0.00 $266.32 $47,576.09
148 $47,576.09 $208.43 $0.00 $269.00 $48,053.52
149 $48,053.52 $208.43 $0.00 $271.70 $48,533.65
150 $48,533.65 $208.43 $0.00 $274.42 $49,016.50
151 $49,016.50 $208.43 $0.00 $277.15 $49,502.08
152 $49,502.08 $208.43 $0.00 $279.89 $49,990.40
153 $49,990.40 $208.43 $0.00 $282.65 $50,481.48
154 $50,481.48 $208.43 $0.00 $285.43 $50,975.34
155 $50,975.34 $208.43 $0.00 $288.22 $51,471.99
156 $51,471.99 $208.43 $0.00 $291.03 $51,971.45
157 $51,971.45 $208.43 $0.00 $293.85 $52,473.73
158 $52,473.73 $208.43 $0.00 $296.69 $52,978.85
159 $52,978.85 $208.43 $0.00 $299.55 $53,486.83
160 $53,486.83 $208.43 $0.00 $302.42 $53,997.68
161 $53,997.68 $208.43 $0.00 $305.31 $54,511.42
162 $54,511.42 $208.43 $0.00 $308.22 $55,028.07
163 $55,028.07 $208.43 $0.00 $311.14 $55,547.64
164 $55,547.64 $208.43 $0.00 $314.07 $56,070.14
165 $56,070.14 $208.43 $0.00 $317.03 $56,595.60
166 $56,595.60 $208.43 $0.00 $320.00 $57,124.03
167 $57,124.03 $208.43 $0.00 $322.99 $57,655.45
168 $57,655.45 $208.43 $0.00 $325.99 $58,189.87
169 $58,189.87 $208.43 $0.00 $329.01 $58,727.31
170 $58,727.31 $208.43 $0.00 $332.05 $59,267.79
171 $59,267.79 $208.43 $0.00 $335.11 $59,811.33
172 $59,811.33 $208.43 $0.00 $338.18 $60,357.94
173 $60,357.94 $208.43 $0.00 $341.27 $60,907.64
174 $60,907.64 $208.43 $0.00 $344.38 $61,460.45
175 $61,460.45 $208.43 $0.00 $347.51 $62,016.39
176 $62,016.39 $208.43 $0.00 $350.65 $62,575.47
177 $62,575.47 $208.43 $0.00 $353.81 $63,137.71
178 $63,137.71 $208.43 $0.00 $356.99 $63,703.13
179 $63,703.13 $208.43 $0.00 $360.19 $64,271.75
180 $64,271.75 $208.43 $0.00 $363.40 $64,843.58
181 $64,843.58 $208.43 $0.00 $366.64 $65,418.65
182 $65,418.65 $208.43 $0.00 $369.89 $65,996.97
183 $65,996.97 $208.43 $0.00 $373.16 $66,578.56
184 $66,578.56 $208.43 $0.00 $376.44 $67,163.43
185 $67,163.43 $208.43 $0.00 $379.75 $67,751.61
186 $67,751.61 $208.43 $0.00 $383.08 $68,343.12
187 $68,343.12 $208.43 $0.00 $386.42 $68,937.97
188 $68,937.97 $208.43 $0.00 $389.79 $69,536.19
189 $69,536.19 $208.43 $0.00 $393.17 $70,137.79
190 $70,137.79 $208.43 $0.00 $396.57 $70,742.79
191 $70,742.79 $208.43 $0.00 $399.99 $71,351.21
192 $71,351.21 $208.43 $0.00 $403.43 $71,963.07
193 $71,963.07 $208.43 $0.00 $406.89 $72,578.39
194 $72,578.39 $208.43 $0.00 $410.37 $73,197.19
195 $73,197.19 $208.43 $0.00 $413.87 $73,819.49
196 $73,819.49 $208.43 $0.00 $417.39 $74,445.31
197 $74,445.31 $208.43 $0.00 $420.92 $75,074.66
198 $75,074.66 $208.43 $0.00 $424.48 $75,707.57
199 $75,707.57 $208.43 $0.00 $428.06 $76,344.06
200 $76,344.06 $208.43 $0.00 $431.66 $76,984.15
201 $76,984.15 $208.43 $0.00 $435.28 $77,627.86
202 $77,627.86 $208.43 $0.00 $438.92 $78,275.21
203 $78,275.21 $208.43 $0.00 $442.58 $78,926.22
204 $78,926.22 $208.43 $0.00 $446.26 $79,580.91
205 $79,580.91 $208.43 $0.00 $449.96 $80,239.30
206 $80,239.30 $208.43 $0.00 $453.68 $80,901.41
207 $80,901.41 $208.43 $0.00 $457.43 $81,567.27
208 $81,567.27 $208.43 $0.00 $461.19 $82,236.89
209 $82,236.89 $208.43 $0.00 $464.98 $82,910.30
210 $82,910.30 $208.43 $0.00 $468.79 $83,587.52
211 $83,587.52 $208.43 $0.00 $472.62 $84,268.57
212 $84,268.57 $208.43 $0.00 $476.47 $84,953.47
213 $84,953.47 $208.43 $0.00 $480.34 $85,642.24
214 $85,642.24 $208.43 $0.00 $484.23 $86,334.90
215 $86,334.90 $208.43 $0.00 $488.15 $87,031.48
216 $87,031.48 $208.43 $0.00 $492.09 $87,732.00
217 $87,732.00 $208.43 $45,754.64 $496.05 $42,681.84
218 $42,681.84 $208.43 $0.00 $241.33 $43,131.60
219 $43,131.60 $208.43 $0.00 $243.87 $43,583.90
220 $43,583.90 $208.43 $0.00 $246.43 $44,038.76
221 $44,038.76 $208.43 $0.00 $249.00 $44,496.19
222 $44,496.19 $208.43 $0.00 $251.59 $44,956.21
223 $44,956.21 $208.43 $0.00 $254.19 $45,418.83
224 $45,418.83 $208.43 $0.00 $256.80 $45,884.06
225 $45,884.06 $208.43 $0.00 $259.44 $46,351.93
226 $46,351.93 $208.43 $0.00 $262.08 $46,822.44
227 $46,822.44 $208.43 $0.00 $264.74 $47,295.61
228 $47,295.61 $208.43 $0.00 $267.42 $47,771.46
229 $47,771.46 $0.00 $48,042.38 $270.11 ($0.81)