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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$55,878
Monthly savings required$248

How much will it cost to send your child to Spoon River College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $111,755.21 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $248.34 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$22,652.00
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 $248.34 $0.00 $0.00 $248.34
2 $248.34 $248.34 $0.00 $1.40 $498.08
3 $498.08 $248.34 $0.00 $2.82 $749.24
4 $749.24 $248.34 $0.00 $4.24 $1,001.82
5 $1,001.82 $248.34 $0.00 $5.66 $1,255.82
6 $1,255.82 $248.34 $0.00 $7.10 $1,511.26
7 $1,511.26 $248.34 $0.00 $8.54 $1,768.14
8 $1,768.14 $248.34 $0.00 $10.00 $2,026.48
9 $2,026.48 $248.34 $0.00 $11.46 $2,286.28
10 $2,286.28 $248.34 $0.00 $12.93 $2,547.55
11 $2,547.55 $248.34 $0.00 $14.40 $2,810.29
12 $2,810.29 $248.34 $0.00 $15.89 $3,074.52
13 $3,074.52 $248.34 $0.00 $17.38 $3,340.24
14 $3,340.24 $248.34 $0.00 $18.89 $3,607.47
15 $3,607.47 $248.34 $0.00 $20.40 $3,876.21
16 $3,876.21 $248.34 $0.00 $21.92 $4,146.47
17 $4,146.47 $248.34 $0.00 $23.44 $4,418.25
18 $4,418.25 $248.34 $0.00 $24.98 $4,691.57
19 $4,691.57 $248.34 $0.00 $26.53 $4,966.44
20 $4,966.44 $248.34 $0.00 $28.08 $5,242.86
21 $5,242.86 $248.34 $0.00 $29.64 $5,520.84
22 $5,520.84 $248.34 $0.00 $31.22 $5,800.40
23 $5,800.40 $248.34 $0.00 $32.80 $6,081.54
24 $6,081.54 $248.34 $0.00 $34.39 $6,364.27
25 $6,364.27 $248.34 $0.00 $35.98 $6,648.59
26 $6,648.59 $248.34 $0.00 $37.59 $6,934.52
27 $6,934.52 $248.34 $0.00 $39.21 $7,222.07
28 $7,222.07 $248.34 $0.00 $40.83 $7,511.24
29 $7,511.24 $248.34 $0.00 $42.47 $7,802.05
30 $7,802.05 $248.34 $0.00 $44.11 $8,094.50
31 $8,094.50 $248.34 $0.00 $45.77 $8,388.61
32 $8,388.61 $248.34 $0.00 $47.43 $8,684.38
33 $8,684.38 $248.34 $0.00 $49.10 $8,981.82
34 $8,981.82 $248.34 $0.00 $50.78 $9,280.94
35 $9,280.94 $248.34 $0.00 $52.48 $9,581.76
36 $9,581.76 $248.34 $0.00 $54.18 $9,884.28
37 $9,884.28 $248.34 $0.00 $55.89 $10,188.51
38 $10,188.51 $248.34 $0.00 $57.61 $10,494.46
39 $10,494.46 $248.34 $0.00 $59.34 $10,802.14
40 $10,802.14 $248.34 $0.00 $61.08 $11,111.56
41 $11,111.56 $248.34 $0.00 $62.83 $11,422.73
42 $11,422.73 $248.34 $0.00 $64.59 $11,735.66
43 $11,735.66 $248.34 $0.00 $66.36 $12,050.36
44 $12,050.36 $248.34 $0.00 $68.13 $12,366.83
45 $12,366.83 $248.34 $0.00 $69.92 $12,685.09
46 $12,685.09 $248.34 $0.00 $71.72 $13,005.15
47 $13,005.15 $248.34 $0.00 $73.53 $13,327.02
48 $13,327.02 $248.34 $0.00 $75.35 $13,650.71
49 $13,650.71 $248.34 $0.00 $77.18 $13,976.23
50 $13,976.23 $248.34 $0.00 $79.02 $14,303.59
51 $14,303.59 $248.34 $0.00 $80.87 $14,632.80
52 $14,632.80 $248.34 $0.00 $82.74 $14,963.88
53 $14,963.88 $248.34 $0.00 $84.61 $15,296.83
54 $15,296.83 $248.34 $0.00 $86.49 $15,631.66
55 $15,631.66 $248.34 $0.00 $88.38 $15,968.38
56 $15,968.38 $248.34 $0.00 $90.29 $16,307.01
57 $16,307.01 $248.34 $0.00 $92.20 $16,647.55
58 $16,647.55 $248.34 $0.00 $94.13 $16,990.02
59 $16,990.02 $248.34 $0.00 $96.06 $17,334.42
60 $17,334.42 $248.34 $0.00 $98.01 $17,680.77
61 $17,680.77 $248.34 $0.00 $99.97 $18,029.08
62 $18,029.08 $248.34 $0.00 $101.94 $18,379.36
63 $18,379.36 $248.34 $0.00 $103.92 $18,731.62
64 $18,731.62 $248.34 $0.00 $105.91 $19,085.87
65 $19,085.87 $248.34 $0.00 $107.91 $19,442.12
66 $19,442.12 $248.34 $0.00 $109.93 $19,800.39
67 $19,800.39 $248.34 $0.00 $111.95 $20,160.68
68 $20,160.68 $248.34 $0.00 $113.99 $20,523.01
69 $20,523.01 $248.34 $0.00 $116.04 $20,887.39
70 $20,887.39 $248.34 $0.00 $118.10 $21,253.83
71 $21,253.83 $248.34 $0.00 $120.17 $21,622.34
72 $21,622.34 $248.34 $0.00 $122.26 $21,992.94
73 $21,992.94 $248.34 $0.00 $124.35 $22,365.63
74 $22,365.63 $248.34 $0.00 $126.46 $22,740.43
75 $22,740.43 $248.34 $0.00 $128.58 $23,117.35
76 $23,117.35 $248.34 $0.00 $130.71 $23,496.40
77 $23,496.40 $248.34 $0.00 $132.85 $23,877.59
78 $23,877.59 $248.34 $0.00 $135.01 $24,260.94
79 $24,260.94 $248.34 $0.00 $137.17 $24,646.45
80 $24,646.45 $248.34 $0.00 $139.35 $25,034.14
81 $25,034.14 $248.34 $0.00 $141.55 $25,424.03
82 $25,424.03 $248.34 $0.00 $143.75 $25,816.12
83 $25,816.12 $248.34 $0.00 $145.97 $26,210.43
84 $26,210.43 $248.34 $0.00 $148.20 $26,606.97
85 $26,606.97 $248.34 $0.00 $150.44 $27,005.75
86 $27,005.75 $248.34 $0.00 $152.69 $27,406.78
87 $27,406.78 $248.34 $0.00 $154.96 $27,810.08
88 $27,810.08 $248.34 $0.00 $157.24 $28,215.66
89 $28,215.66 $248.34 $0.00 $159.54 $28,623.54
90 $28,623.54 $248.34 $0.00 $161.84 $29,033.72
91 $29,033.72 $248.34 $0.00 $164.16 $29,446.22
92 $29,446.22 $248.34 $0.00 $166.49 $29,861.05
93 $29,861.05 $248.34 $0.00 $168.84 $30,278.23
94 $30,278.23 $248.34 $0.00 $171.20 $30,697.77
95 $30,697.77 $248.34 $0.00 $173.57 $31,119.68
96 $31,119.68 $248.34 $0.00 $175.96 $31,543.98
97 $31,543.98 $248.34 $0.00 $178.35 $31,970.67
98 $31,970.67 $248.34 $0.00 $180.77 $32,399.78
99 $32,399.78 $248.34 $0.00 $183.19 $32,831.31
100 $32,831.31 $248.34 $0.00 $185.63 $33,265.28
101 $33,265.28 $248.34 $0.00 $188.09 $33,701.71
102 $33,701.71 $248.34 $0.00 $190.55 $34,140.60
103 $34,140.60 $248.34 $0.00 $193.04 $34,581.98
104 $34,581.98 $248.34 $0.00 $195.53 $35,025.85
105 $35,025.85 $248.34 $0.00 $198.04 $35,472.23
106 $35,472.23 $248.34 $0.00 $200.57 $35,921.14
107 $35,921.14 $248.34 $0.00 $203.10 $36,372.58
108 $36,372.58 $248.34 $0.00 $205.66 $36,826.58
109 $36,826.58 $248.34 $0.00 $208.22 $37,283.14
110 $37,283.14 $248.34 $0.00 $210.80 $37,742.28
111 $37,742.28 $248.34 $0.00 $213.40 $38,204.02
112 $38,204.02 $248.34 $0.00 $216.01 $38,668.37
113 $38,668.37 $248.34 $0.00 $218.64 $39,135.35
114 $39,135.35 $248.34 $0.00 $221.28 $39,604.97
115 $39,604.97 $248.34 $0.00 $223.93 $40,077.24
116 $40,077.24 $248.34 $0.00 $226.60 $40,552.18
117 $40,552.18 $248.34 $0.00 $229.29 $41,029.81
118 $41,029.81 $248.34 $0.00 $231.99 $41,510.14
119 $41,510.14 $248.34 $0.00 $234.70 $41,993.18
120 $41,993.18 $248.34 $0.00 $237.44 $42,478.96
121 $42,478.96 $248.34 $0.00 $240.18 $42,967.48
122 $42,967.48 $248.34 $0.00 $242.94 $43,458.76
123 $43,458.76 $248.34 $0.00 $245.72 $43,952.82
124 $43,952.82 $248.34 $0.00 $248.52 $44,449.68
125 $44,449.68 $248.34 $0.00 $251.32 $44,949.34
126 $44,949.34 $248.34 $0.00 $254.15 $45,451.83
127 $45,451.83 $248.34 $0.00 $256.99 $45,957.16
128 $45,957.16 $248.34 $0.00 $259.85 $46,465.35
129 $46,465.35 $248.34 $0.00 $262.72 $46,976.41
130 $46,976.41 $248.34 $0.00 $265.61 $47,490.36
131 $47,490.36 $248.34 $0.00 $268.52 $48,007.22
132 $48,007.22 $248.34 $0.00 $271.44 $48,527.00
133 $48,527.00 $248.34 $0.00 $274.38 $49,049.72
134 $49,049.72 $248.34 $0.00 $277.33 $49,575.39
135 $49,575.39 $248.34 $0.00 $280.31 $50,104.04
136 $50,104.04 $248.34 $0.00 $283.30 $50,635.68
137 $50,635.68 $248.34 $0.00 $286.30 $51,170.32
138 $51,170.32 $248.34 $0.00 $289.32 $51,707.98
139 $51,707.98 $248.34 $0.00 $292.36 $52,248.68
140 $52,248.68 $248.34 $0.00 $295.42 $52,792.44
141 $52,792.44 $248.34 $0.00 $298.50 $53,339.28
142 $53,339.28 $248.34 $0.00 $301.59 $53,889.21
143 $53,889.21 $248.34 $0.00 $304.70 $54,442.25
144 $54,442.25 $248.34 $0.00 $307.82 $54,998.41
145 $54,998.41 $248.34 $0.00 $310.97 $55,557.72
146 $55,557.72 $248.34 $0.00 $314.13 $56,120.19
147 $56,120.19 $248.34 $0.00 $317.31 $56,685.84
148 $56,685.84 $248.34 $0.00 $320.51 $57,254.69
149 $57,254.69 $248.34 $0.00 $323.73 $57,826.76
150 $57,826.76 $248.34 $0.00 $326.96 $58,402.06
151 $58,402.06 $248.34 $0.00 $330.21 $58,980.61
152 $58,980.61 $248.34 $0.00 $333.48 $59,562.43
153 $59,562.43 $248.34 $0.00 $336.77 $60,147.54
154 $60,147.54 $248.34 $0.00 $340.08 $60,735.96
155 $60,735.96 $248.34 $0.00 $343.41 $61,327.71
156 $61,327.71 $248.34 $0.00 $346.76 $61,922.81
157 $61,922.81 $248.34 $0.00 $350.12 $62,521.27
158 $62,521.27 $248.34 $0.00 $353.50 $63,123.11
159 $63,123.11 $248.34 $0.00 $356.91 $63,728.36
160 $63,728.36 $248.34 $0.00 $360.33 $64,337.03
161 $64,337.03 $248.34 $0.00 $363.77 $64,949.14
162 $64,949.14 $248.34 $0.00 $367.23 $65,564.71
163 $65,564.71 $248.34 $0.00 $370.71 $66,183.76
164 $66,183.76 $248.34 $0.00 $374.21 $66,806.31
165 $66,806.31 $248.34 $0.00 $377.73 $67,432.38
166 $67,432.38 $248.34 $0.00 $381.27 $68,061.99
167 $68,061.99 $248.34 $0.00 $384.83 $68,695.16
168 $68,695.16 $248.34 $0.00 $388.41 $69,331.91
169 $69,331.91 $248.34 $0.00 $392.01 $69,972.26
170 $69,972.26 $248.34 $0.00 $395.63 $70,616.23
171 $70,616.23 $248.34 $0.00 $399.27 $71,263.84
172 $71,263.84 $248.34 $0.00 $402.94 $71,915.12
173 $71,915.12 $248.34 $0.00 $406.62 $72,570.08
174 $72,570.08 $248.34 $0.00 $410.32 $73,228.74
175 $73,228.74 $248.34 $0.00 $414.05 $73,891.13
176 $73,891.13 $248.34 $0.00 $417.79 $74,557.26
177 $74,557.26 $248.34 $0.00 $421.56 $75,227.16
178 $75,227.16 $248.34 $0.00 $425.35 $75,900.85
179 $75,900.85 $248.34 $0.00 $429.15 $76,578.34
180 $76,578.34 $248.34 $0.00 $432.99 $77,259.67
181 $77,259.67 $248.34 $0.00 $436.84 $77,944.85
182 $77,944.85 $248.34 $0.00 $440.71 $78,633.90
183 $78,633.90 $248.34 $0.00 $444.61 $79,326.85
184 $79,326.85 $248.34 $0.00 $448.53 $80,023.72
185 $80,023.72 $248.34 $0.00 $452.47 $80,724.53
186 $80,724.53 $248.34 $0.00 $456.43 $81,429.30
187 $81,429.30 $248.34 $0.00 $460.41 $82,138.05
188 $82,138.05 $248.34 $0.00 $464.42 $82,850.81
189 $82,850.81 $248.34 $0.00 $468.45 $83,567.60
190 $83,567.60 $248.34 $0.00 $472.50 $84,288.44
191 $84,288.44 $248.34 $0.00 $476.58 $85,013.36
192 $85,013.36 $248.34 $0.00 $480.68 $85,742.38
193 $85,742.38 $248.34 $0.00 $484.80 $86,475.52
194 $86,475.52 $248.34 $0.00 $488.95 $87,212.81
195 $87,212.81 $248.34 $0.00 $493.11 $87,954.26
196 $87,954.26 $248.34 $0.00 $497.31 $88,699.91
197 $88,699.91 $248.34 $0.00 $501.52 $89,449.77
198 $89,449.77 $248.34 $0.00 $505.76 $90,203.87
199 $90,203.87 $248.34 $0.00 $510.03 $90,962.24
200 $90,962.24 $248.34 $0.00 $514.31 $91,724.89
201 $91,724.89 $248.34 $0.00 $518.63 $92,491.86
202 $92,491.86 $248.34 $0.00 $522.96 $93,263.16
203 $93,263.16 $248.34 $0.00 $527.32 $94,038.82
204 $94,038.82 $248.34 $0.00 $531.71 $94,818.87
205 $94,818.87 $248.34 $0.00 $536.12 $95,603.33
206 $95,603.33 $248.34 $0.00 $540.56 $96,392.23
207 $96,392.23 $248.34 $0.00 $545.02 $97,185.59
208 $97,185.59 $248.34 $0.00 $549.50 $97,983.43
209 $97,983.43 $248.34 $0.00 $554.01 $98,785.78
210 $98,785.78 $248.34 $0.00 $558.55 $99,592.67
211 $99,592.67 $248.34 $0.00 $563.11 $100,404.12
212 $100,404.12 $248.34 $0.00 $567.70 $101,220.16
213 $101,220.16 $248.34 $0.00 $572.31 $102,040.81
214 $102,040.81 $248.34 $0.00 $576.95 $102,866.10
215 $102,866.10 $248.34 $0.00 $581.62 $103,696.06
216 $103,696.06 $248.34 $0.00 $586.31 $104,530.71
217 $104,530.71 $248.34 $54,514.74 $591.03 $50,855.34
218 $50,855.34 $248.34 $0.00 $287.54 $51,391.22
219 $51,391.22 $248.34 $0.00 $290.57 $51,930.13
220 $51,930.13 $248.34 $0.00 $293.62 $52,472.09
221 $52,472.09 $248.34 $0.00 $296.68 $53,017.11
222 $53,017.11 $248.34 $0.00 $299.77 $53,565.22
223 $53,565.22 $248.34 $0.00 $302.87 $54,116.43
224 $54,116.43 $248.34 $0.00 $305.98 $54,670.75
225 $54,670.75 $248.34 $0.00 $309.12 $55,228.21
226 $55,228.21 $248.34 $0.00 $312.27 $55,788.82
227 $55,788.82 $248.34 $0.00 $315.44 $56,352.60
228 $56,352.60 $248.34 $0.00 $318.63 $56,919.57
229 $56,919.57 $0.00 $57,240.48 $321.83 $0.92