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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$56,465
Monthly savings required$251

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 $112,929.40 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $250.95 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$22,890.00
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 $250.95 $0.00 $0.00 $250.95
2 $250.95 $250.95 $0.00 $1.42 $503.32
3 $503.32 $250.95 $0.00 $2.85 $757.12
4 $757.12 $250.95 $0.00 $4.28 $1,012.35
5 $1,012.35 $250.95 $0.00 $5.72 $1,269.02
6 $1,269.02 $250.95 $0.00 $7.18 $1,527.15
7 $1,527.15 $250.95 $0.00 $8.63 $1,786.73
8 $1,786.73 $250.95 $0.00 $10.10 $2,047.78
9 $2,047.78 $250.95 $0.00 $11.58 $2,310.31
10 $2,310.31 $250.95 $0.00 $13.06 $2,574.32
11 $2,574.32 $250.95 $0.00 $14.56 $2,839.83
12 $2,839.83 $250.95 $0.00 $16.06 $3,106.84
13 $3,106.84 $250.95 $0.00 $17.57 $3,375.36
14 $3,375.36 $250.95 $0.00 $19.08 $3,645.39
15 $3,645.39 $250.95 $0.00 $20.61 $3,916.95
16 $3,916.95 $250.95 $0.00 $22.15 $4,190.05
17 $4,190.05 $250.95 $0.00 $23.69 $4,464.69
18 $4,464.69 $250.95 $0.00 $25.24 $4,740.88
19 $4,740.88 $250.95 $0.00 $26.81 $5,018.64
20 $5,018.64 $250.95 $0.00 $28.38 $5,297.97
21 $5,297.97 $250.95 $0.00 $29.96 $5,578.88
22 $5,578.88 $250.95 $0.00 $31.54 $5,861.37
23 $5,861.37 $250.95 $0.00 $33.14 $6,145.46
24 $6,145.46 $250.95 $0.00 $34.75 $6,431.16
25 $6,431.16 $250.95 $0.00 $36.36 $6,718.47
26 $6,718.47 $250.95 $0.00 $37.99 $7,007.41
27 $7,007.41 $250.95 $0.00 $39.62 $7,297.98
28 $7,297.98 $250.95 $0.00 $41.26 $7,590.19
29 $7,590.19 $250.95 $0.00 $42.92 $7,884.06
30 $7,884.06 $250.95 $0.00 $44.58 $8,179.59
31 $8,179.59 $250.95 $0.00 $46.25 $8,476.79
32 $8,476.79 $250.95 $0.00 $47.93 $8,775.67
33 $8,775.67 $250.95 $0.00 $49.62 $9,076.24
34 $9,076.24 $250.95 $0.00 $51.32 $9,378.51
35 $9,378.51 $250.95 $0.00 $53.03 $9,682.49
36 $9,682.49 $250.95 $0.00 $54.75 $9,988.19
37 $9,988.19 $250.95 $0.00 $56.47 $10,295.61
38 $10,295.61 $250.95 $0.00 $58.21 $10,604.77
39 $10,604.77 $250.95 $0.00 $59.96 $10,915.68
40 $10,915.68 $250.95 $0.00 $61.72 $11,228.35
41 $11,228.35 $250.95 $0.00 $63.49 $11,542.79
42 $11,542.79 $250.95 $0.00 $65.26 $11,859.00
43 $11,859.00 $250.95 $0.00 $67.05 $12,177.00
44 $12,177.00 $250.95 $0.00 $68.85 $12,496.80
45 $12,496.80 $250.95 $0.00 $70.66 $12,818.41
46 $12,818.41 $250.95 $0.00 $72.48 $13,141.84
47 $13,141.84 $250.95 $0.00 $74.31 $13,467.10
48 $13,467.10 $250.95 $0.00 $76.14 $13,794.19
49 $13,794.19 $250.95 $0.00 $77.99 $14,123.13
50 $14,123.13 $250.95 $0.00 $79.85 $14,453.93
51 $14,453.93 $250.95 $0.00 $81.72 $14,786.60
52 $14,786.60 $250.95 $0.00 $83.61 $15,121.16
53 $15,121.16 $250.95 $0.00 $85.50 $15,457.61
54 $15,457.61 $250.95 $0.00 $87.40 $15,795.96
55 $15,795.96 $250.95 $0.00 $89.31 $16,136.22
56 $16,136.22 $250.95 $0.00 $91.24 $16,478.41
57 $16,478.41 $250.95 $0.00 $93.17 $16,822.53
58 $16,822.53 $250.95 $0.00 $95.12 $17,168.60
59 $17,168.60 $250.95 $0.00 $97.07 $17,516.62
60 $17,516.62 $250.95 $0.00 $99.04 $17,866.61
61 $17,866.61 $250.95 $0.00 $101.02 $18,218.58
62 $18,218.58 $250.95 $0.00 $103.01 $18,572.54
63 $18,572.54 $250.95 $0.00 $105.01 $18,928.50
64 $18,928.50 $250.95 $0.00 $107.02 $19,286.47
65 $19,286.47 $250.95 $0.00 $109.05 $19,646.47
66 $19,646.47 $250.95 $0.00 $111.08 $20,008.50
67 $20,008.50 $250.95 $0.00 $113.13 $20,372.58
68 $20,372.58 $250.95 $0.00 $115.19 $20,738.72
69 $20,738.72 $250.95 $0.00 $117.26 $21,106.93
70 $21,106.93 $250.95 $0.00 $119.34 $21,477.22
71 $21,477.22 $250.95 $0.00 $121.44 $21,849.61
72 $21,849.61 $250.95 $0.00 $123.54 $22,224.10
73 $22,224.10 $250.95 $0.00 $125.66 $22,600.71
74 $22,600.71 $250.95 $0.00 $127.79 $22,979.45
75 $22,979.45 $250.95 $0.00 $129.93 $23,360.33
76 $23,360.33 $250.95 $0.00 $132.08 $23,743.36
77 $23,743.36 $250.95 $0.00 $134.25 $24,128.56
78 $24,128.56 $250.95 $0.00 $136.43 $24,515.94
79 $24,515.94 $250.95 $0.00 $138.62 $24,905.51
80 $24,905.51 $250.95 $0.00 $140.82 $25,297.28
81 $25,297.28 $250.95 $0.00 $143.03 $25,691.26
82 $25,691.26 $250.95 $0.00 $145.26 $26,087.47
83 $26,087.47 $250.95 $0.00 $147.50 $26,485.92
84 $26,485.92 $250.95 $0.00 $149.76 $26,886.63
85 $26,886.63 $250.95 $0.00 $152.02 $27,289.60
86 $27,289.60 $250.95 $0.00 $154.30 $27,694.85
87 $27,694.85 $250.95 $0.00 $156.59 $28,102.39
88 $28,102.39 $250.95 $0.00 $158.89 $28,512.23
89 $28,512.23 $250.95 $0.00 $161.21 $28,924.39
90 $28,924.39 $250.95 $0.00 $163.54 $29,338.88
91 $29,338.88 $250.95 $0.00 $165.89 $29,755.72
92 $29,755.72 $250.95 $0.00 $168.24 $30,174.91
93 $30,174.91 $250.95 $0.00 $170.61 $30,596.47
94 $30,596.47 $250.95 $0.00 $173.00 $31,020.42
95 $31,020.42 $250.95 $0.00 $175.39 $31,446.76
96 $31,446.76 $250.95 $0.00 $177.80 $31,875.51
97 $31,875.51 $250.95 $0.00 $180.23 $32,306.69
98 $32,306.69 $250.95 $0.00 $182.67 $32,740.31
99 $32,740.31 $250.95 $0.00 $185.12 $33,176.38
100 $33,176.38 $250.95 $0.00 $187.58 $33,614.91
101 $33,614.91 $250.95 $0.00 $190.06 $34,055.92
102 $34,055.92 $250.95 $0.00 $192.56 $34,499.43
103 $34,499.43 $250.95 $0.00 $195.06 $34,945.44
104 $34,945.44 $250.95 $0.00 $197.59 $35,393.98
105 $35,393.98 $250.95 $0.00 $200.12 $35,845.05
106 $35,845.05 $250.95 $0.00 $202.67 $36,298.67
107 $36,298.67 $250.95 $0.00 $205.24 $36,754.86
108 $36,754.86 $250.95 $0.00 $207.82 $37,213.63
109 $37,213.63 $250.95 $0.00 $210.41 $37,674.99
110 $37,674.99 $250.95 $0.00 $213.02 $38,138.96
111 $38,138.96 $250.95 $0.00 $215.64 $38,605.55
112 $38,605.55 $250.95 $0.00 $218.28 $39,074.78
113 $39,074.78 $250.95 $0.00 $220.93 $39,546.66
114 $39,546.66 $250.95 $0.00 $223.60 $40,021.21
115 $40,021.21 $250.95 $0.00 $226.29 $40,498.45
116 $40,498.45 $250.95 $0.00 $228.98 $40,978.38
117 $40,978.38 $250.95 $0.00 $231.70 $41,461.03
118 $41,461.03 $250.95 $0.00 $234.43 $41,946.41
119 $41,946.41 $250.95 $0.00 $237.17 $42,434.53
120 $42,434.53 $250.95 $0.00 $239.93 $42,925.41
121 $42,925.41 $250.95 $0.00 $242.71 $43,419.07
122 $43,419.07 $250.95 $0.00 $245.50 $43,915.52
123 $43,915.52 $250.95 $0.00 $248.30 $44,414.77
124 $44,414.77 $250.95 $0.00 $251.13 $44,916.85
125 $44,916.85 $250.95 $0.00 $253.97 $45,421.77
126 $45,421.77 $250.95 $0.00 $256.82 $45,929.54
127 $45,929.54 $250.95 $0.00 $259.69 $46,440.18
128 $46,440.18 $250.95 $0.00 $262.58 $46,953.71
129 $46,953.71 $250.95 $0.00 $265.48 $47,470.14
130 $47,470.14 $250.95 $0.00 $268.40 $47,989.49
131 $47,989.49 $250.95 $0.00 $271.34 $48,511.78
132 $48,511.78 $250.95 $0.00 $274.29 $49,037.02
133 $49,037.02 $250.95 $0.00 $277.26 $49,565.23
134 $49,565.23 $250.95 $0.00 $280.25 $50,096.43
135 $50,096.43 $250.95 $0.00 $283.25 $50,630.63
136 $50,630.63 $250.95 $0.00 $286.27 $51,167.85
137 $51,167.85 $250.95 $0.00 $289.31 $51,708.11
138 $51,708.11 $250.95 $0.00 $292.37 $52,251.43
139 $52,251.43 $250.95 $0.00 $295.44 $52,797.82
140 $52,797.82 $250.95 $0.00 $298.53 $53,347.30
141 $53,347.30 $250.95 $0.00 $301.63 $53,899.88
142 $53,899.88 $250.95 $0.00 $304.76 $54,455.59
143 $54,455.59 $250.95 $0.00 $307.90 $55,014.44
144 $55,014.44 $250.95 $0.00 $311.06 $55,576.45
145 $55,576.45 $250.95 $0.00 $314.24 $56,141.64
146 $56,141.64 $250.95 $0.00 $317.43 $56,710.02
147 $56,710.02 $250.95 $0.00 $320.65 $57,281.62
148 $57,281.62 $250.95 $0.00 $323.88 $57,856.45
149 $57,856.45 $250.95 $0.00 $327.13 $58,434.53
150 $58,434.53 $250.95 $0.00 $330.40 $59,015.88
151 $59,015.88 $250.95 $0.00 $333.68 $59,600.51
152 $59,600.51 $250.95 $0.00 $336.99 $60,188.45
153 $60,188.45 $250.95 $0.00 $340.31 $60,779.71
154 $60,779.71 $250.95 $0.00 $343.66 $61,374.32
155 $61,374.32 $250.95 $0.00 $347.02 $61,972.29
156 $61,972.29 $250.95 $0.00 $350.40 $62,573.64
157 $62,573.64 $250.95 $0.00 $353.80 $63,178.39
158 $63,178.39 $250.95 $0.00 $357.22 $63,786.56
159 $63,786.56 $250.95 $0.00 $360.66 $64,398.17
160 $64,398.17 $250.95 $0.00 $364.12 $65,013.24
161 $65,013.24 $250.95 $0.00 $367.59 $65,631.78
162 $65,631.78 $250.95 $0.00 $371.09 $66,253.82
163 $66,253.82 $250.95 $0.00 $374.61 $66,879.38
164 $66,879.38 $250.95 $0.00 $378.15 $67,508.48
165 $67,508.48 $250.95 $0.00 $381.70 $68,141.13
166 $68,141.13 $250.95 $0.00 $385.28 $68,777.36
167 $68,777.36 $250.95 $0.00 $388.88 $69,417.19
168 $69,417.19 $250.95 $0.00 $392.49 $70,060.63
169 $70,060.63 $250.95 $0.00 $396.13 $70,707.71
170 $70,707.71 $250.95 $0.00 $399.79 $71,358.45
171 $71,358.45 $250.95 $0.00 $403.47 $72,012.87
172 $72,012.87 $250.95 $0.00 $407.17 $72,670.99
173 $72,670.99 $250.95 $0.00 $410.89 $73,332.83
174 $73,332.83 $250.95 $0.00 $414.63 $73,998.41
175 $73,998.41 $250.95 $0.00 $418.40 $74,667.76
176 $74,667.76 $250.95 $0.00 $422.18 $75,340.89
177 $75,340.89 $250.95 $0.00 $425.99 $76,017.83
178 $76,017.83 $250.95 $0.00 $429.82 $76,698.60
179 $76,698.60 $250.95 $0.00 $433.67 $77,383.22
180 $77,383.22 $250.95 $0.00 $437.54 $78,071.71
181 $78,071.71 $250.95 $0.00 $441.43 $78,764.09
182 $78,764.09 $250.95 $0.00 $445.34 $79,460.38
183 $79,460.38 $250.95 $0.00 $449.28 $80,160.61
184 $80,160.61 $250.95 $0.00 $453.24 $80,864.80
185 $80,864.80 $250.95 $0.00 $457.22 $81,572.97
186 $81,572.97 $250.95 $0.00 $461.23 $82,285.15
187 $82,285.15 $250.95 $0.00 $465.25 $83,001.35
188 $83,001.35 $250.95 $0.00 $469.30 $83,721.60
189 $83,721.60 $250.95 $0.00 $473.37 $84,445.92
190 $84,445.92 $250.95 $0.00 $477.47 $85,174.34
191 $85,174.34 $250.95 $0.00 $481.59 $85,906.88
192 $85,906.88 $250.95 $0.00 $485.73 $86,643.56
193 $86,643.56 $250.95 $0.00 $489.90 $87,384.41
194 $87,384.41 $250.95 $0.00 $494.08 $88,129.44
195 $88,129.44 $250.95 $0.00 $498.30 $88,878.69
196 $88,878.69 $250.95 $0.00 $502.53 $89,632.17
197 $89,632.17 $250.95 $0.00 $506.79 $90,389.91
198 $90,389.91 $250.95 $0.00 $511.08 $91,151.94
199 $91,151.94 $250.95 $0.00 $515.39 $91,918.28
200 $91,918.28 $250.95 $0.00 $519.72 $92,688.95
201 $92,688.95 $250.95 $0.00 $524.08 $93,463.98
202 $93,463.98 $250.95 $0.00 $528.46 $94,243.39
203 $94,243.39 $250.95 $0.00 $532.87 $95,027.21
204 $95,027.21 $250.95 $0.00 $537.30 $95,815.46
205 $95,815.46 $250.95 $0.00 $541.75 $96,608.16
206 $96,608.16 $250.95 $0.00 $546.24 $97,405.35
207 $97,405.35 $250.95 $0.00 $550.74 $98,207.04
208 $98,207.04 $250.95 $0.00 $555.28 $99,013.27
209 $99,013.27 $250.95 $0.00 $559.84 $99,824.06
210 $99,824.06 $250.95 $0.00 $564.42 $100,639.43
211 $100,639.43 $250.95 $0.00 $569.03 $101,459.41
212 $101,459.41 $250.95 $0.00 $573.67 $102,284.03
213 $102,284.03 $250.95 $0.00 $578.33 $103,113.31
214 $103,113.31 $250.95 $0.00 $583.02 $103,947.28
215 $103,947.28 $250.95 $0.00 $587.73 $104,785.96
216 $104,785.96 $250.95 $0.00 $592.48 $105,629.39
217 $105,629.39 $250.95 $55,087.51 $597.24 $51,390.07
218 $51,390.07 $250.95 $0.00 $290.57 $51,931.59
219 $51,931.59 $250.95 $0.00 $293.63 $52,476.17
220 $52,476.17 $250.95 $0.00 $296.71 $53,023.83
221 $53,023.83 $250.95 $0.00 $299.80 $53,574.58
222 $53,574.58 $250.95 $0.00 $302.92 $54,128.45
223 $54,128.45 $250.95 $0.00 $306.05 $54,685.45
224 $54,685.45 $250.95 $0.00 $309.20 $55,245.60
225 $55,245.60 $250.95 $0.00 $312.37 $55,808.92
226 $55,808.92 $250.95 $0.00 $315.55 $56,375.42
227 $56,375.42 $250.95 $0.00 $318.75 $56,945.12
228 $56,945.12 $250.95 $0.00 $321.98 $57,518.05
229 $57,518.05 $0.00 $57,841.89 $325.22 $1.38