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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$62,989
Monthly savings required$499

How much will it cost to send your child to Alice Lloyd College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $251,956.03 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $498.61 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$24,290.00
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 $498.61 $0.00 $0.00 $498.61
2 $498.61 $498.61 $0.00 $2.82 $1,000.04
3 $1,000.04 $498.61 $0.00 $5.65 $1,504.30
4 $1,504.30 $498.61 $0.00 $8.51 $2,011.42
5 $2,011.42 $498.61 $0.00 $11.37 $2,521.40
6 $2,521.40 $498.61 $0.00 $14.26 $3,034.27
7 $3,034.27 $498.61 $0.00 $17.16 $3,550.04
8 $3,550.04 $498.61 $0.00 $20.07 $4,068.72
9 $4,068.72 $498.61 $0.00 $23.01 $4,590.34
10 $4,590.34 $498.61 $0.00 $25.95 $5,114.90
11 $5,114.90 $498.61 $0.00 $28.92 $5,642.43
12 $5,642.43 $498.61 $0.00 $31.90 $6,172.94
13 $6,172.94 $498.61 $0.00 $34.90 $6,706.45
14 $6,706.45 $498.61 $0.00 $37.92 $7,242.98
15 $7,242.98 $498.61 $0.00 $40.95 $7,782.54
16 $7,782.54 $498.61 $0.00 $44.00 $8,325.15
17 $8,325.15 $498.61 $0.00 $47.07 $8,870.83
18 $8,870.83 $498.61 $0.00 $50.16 $9,419.60
19 $9,419.60 $498.61 $0.00 $53.26 $9,971.47
20 $9,971.47 $498.61 $0.00 $56.38 $10,526.46
21 $10,526.46 $498.61 $0.00 $59.52 $11,084.59
22 $11,084.59 $498.61 $0.00 $62.67 $11,645.87
23 $11,645.87 $498.61 $0.00 $65.85 $12,210.33
24 $12,210.33 $498.61 $0.00 $69.04 $12,777.98
25 $12,777.98 $498.61 $0.00 $72.25 $13,348.84
26 $13,348.84 $498.61 $0.00 $75.48 $13,922.93
27 $13,922.93 $498.61 $0.00 $78.72 $14,500.26
28 $14,500.26 $498.61 $0.00 $81.99 $15,080.86
29 $15,080.86 $498.61 $0.00 $85.27 $15,664.74
30 $15,664.74 $498.61 $0.00 $88.57 $16,251.92
31 $16,251.92 $498.61 $0.00 $91.89 $16,842.42
32 $16,842.42 $498.61 $0.00 $95.23 $17,436.26
33 $17,436.26 $498.61 $0.00 $98.59 $18,033.46
34 $18,033.46 $498.61 $0.00 $101.96 $18,634.03
35 $18,634.03 $498.61 $0.00 $105.36 $19,238.00
36 $19,238.00 $498.61 $0.00 $108.77 $19,845.38
37 $19,845.38 $498.61 $0.00 $112.21 $20,456.20
38 $20,456.20 $498.61 $0.00 $115.66 $21,070.47
39 $21,070.47 $498.61 $0.00 $119.14 $21,688.22
40 $21,688.22 $498.61 $0.00 $122.63 $22,309.46
41 $22,309.46 $498.61 $0.00 $126.14 $22,934.21
42 $22,934.21 $498.61 $0.00 $129.67 $23,562.49
43 $23,562.49 $498.61 $0.00 $133.23 $24,194.33
44 $24,194.33 $498.61 $0.00 $136.80 $24,829.74
45 $24,829.74 $498.61 $0.00 $140.39 $25,468.74
46 $25,468.74 $498.61 $0.00 $144.00 $26,111.35
47 $26,111.35 $498.61 $0.00 $147.64 $26,757.60
48 $26,757.60 $498.61 $0.00 $151.29 $27,407.50
49 $27,407.50 $498.61 $0.00 $154.97 $28,061.08
50 $28,061.08 $498.61 $0.00 $158.66 $28,718.35
51 $28,718.35 $498.61 $0.00 $162.38 $29,379.34
52 $29,379.34 $498.61 $0.00 $166.12 $30,044.07
53 $30,044.07 $498.61 $0.00 $169.87 $30,712.55
54 $30,712.55 $498.61 $0.00 $173.65 $31,384.81
55 $31,384.81 $498.61 $0.00 $177.45 $32,060.87
56 $32,060.87 $498.61 $0.00 $181.28 $32,740.76
57 $32,740.76 $498.61 $0.00 $185.12 $33,424.49
58 $33,424.49 $498.61 $0.00 $188.99 $34,112.09
59 $34,112.09 $498.61 $0.00 $192.87 $34,803.57
60 $34,803.57 $498.61 $0.00 $196.78 $35,498.96
61 $35,498.96 $498.61 $0.00 $200.72 $36,198.29
62 $36,198.29 $498.61 $0.00 $204.67 $36,901.57
63 $36,901.57 $498.61 $0.00 $208.65 $37,608.83
64 $37,608.83 $498.61 $0.00 $212.65 $38,320.09
65 $38,320.09 $498.61 $0.00 $216.67 $39,035.37
66 $39,035.37 $498.61 $0.00 $220.71 $39,754.69
67 $39,754.69 $498.61 $0.00 $224.78 $40,478.08
68 $40,478.08 $498.61 $0.00 $228.87 $41,205.56
69 $41,205.56 $498.61 $0.00 $232.98 $41,937.15
70 $41,937.15 $498.61 $0.00 $237.12 $42,672.88
71 $42,672.88 $498.61 $0.00 $241.28 $43,412.77
72 $43,412.77 $498.61 $0.00 $245.46 $44,156.84
73 $44,156.84 $498.61 $0.00 $249.67 $44,905.12
74 $44,905.12 $498.61 $0.00 $253.90 $45,657.63
75 $45,657.63 $498.61 $0.00 $258.15 $46,414.39
76 $46,414.39 $498.61 $0.00 $262.43 $47,175.43
77 $47,175.43 $498.61 $0.00 $266.74 $47,940.78
78 $47,940.78 $498.61 $0.00 $271.06 $48,710.45
79 $48,710.45 $498.61 $0.00 $275.42 $49,484.48
80 $49,484.48 $498.61 $0.00 $279.79 $50,262.88
81 $50,262.88 $498.61 $0.00 $284.19 $51,045.68
82 $51,045.68 $498.61 $0.00 $288.62 $51,832.91
83 $51,832.91 $498.61 $0.00 $293.07 $52,624.59
84 $52,624.59 $498.61 $0.00 $297.55 $53,420.75
85 $53,420.75 $498.61 $0.00 $302.05 $54,221.41
86 $54,221.41 $498.61 $0.00 $306.58 $55,026.60
87 $55,026.60 $498.61 $0.00 $311.13 $55,836.34
88 $55,836.34 $498.61 $0.00 $315.71 $56,650.66
89 $56,650.66 $498.61 $0.00 $320.31 $57,469.58
90 $57,469.58 $498.61 $0.00 $324.94 $58,293.13
91 $58,293.13 $498.61 $0.00 $329.60 $59,121.34
92 $59,121.34 $498.61 $0.00 $334.28 $59,954.23
93 $59,954.23 $498.61 $0.00 $338.99 $60,791.83
94 $60,791.83 $498.61 $0.00 $343.73 $61,634.17
95 $61,634.17 $498.61 $0.00 $348.49 $62,481.27
96 $62,481.27 $498.61 $0.00 $353.28 $63,333.16
97 $63,333.16 $498.61 $0.00 $358.09 $64,189.86
98 $64,189.86 $498.61 $0.00 $362.94 $65,051.41
99 $65,051.41 $498.61 $0.00 $367.81 $65,917.83
100 $65,917.83 $498.61 $0.00 $372.71 $66,789.15
101 $66,789.15 $498.61 $0.00 $377.64 $67,665.40
102 $67,665.40 $498.61 $0.00 $382.59 $68,546.60
103 $68,546.60 $498.61 $0.00 $387.57 $69,432.78
104 $69,432.78 $498.61 $0.00 $392.58 $70,323.97
105 $70,323.97 $498.61 $0.00 $397.62 $71,220.20
106 $71,220.20 $498.61 $0.00 $402.69 $72,121.50
107 $72,121.50 $498.61 $0.00 $407.79 $73,027.90
108 $73,027.90 $498.61 $0.00 $412.91 $73,939.42
109 $73,939.42 $498.61 $0.00 $418.06 $74,856.09
110 $74,856.09 $498.61 $0.00 $423.25 $75,777.95
111 $75,777.95 $498.61 $0.00 $428.46 $76,705.02
112 $76,705.02 $498.61 $0.00 $433.70 $77,637.33
113 $77,637.33 $498.61 $0.00 $438.97 $78,574.91
114 $78,574.91 $498.61 $0.00 $444.27 $79,517.79
115 $79,517.79 $498.61 $0.00 $449.61 $80,466.01
116 $80,466.01 $498.61 $0.00 $454.97 $81,419.59
117 $81,419.59 $498.61 $0.00 $460.36 $82,378.56
118 $82,378.56 $498.61 $0.00 $465.78 $83,342.95
119 $83,342.95 $498.61 $0.00 $471.23 $84,312.79
120 $84,312.79 $498.61 $0.00 $476.72 $85,288.12
121 $85,288.12 $498.61 $0.00 $482.23 $86,268.96
122 $86,268.96 $498.61 $0.00 $487.78 $87,255.35
123 $87,255.35 $498.61 $0.00 $493.35 $88,247.31
124 $88,247.31 $498.61 $0.00 $498.96 $89,244.88
125 $89,244.88 $498.61 $0.00 $504.60 $90,248.09
126 $90,248.09 $498.61 $0.00 $510.28 $91,256.98
127 $91,256.98 $498.61 $0.00 $515.98 $92,271.57
128 $92,271.57 $498.61 $0.00 $521.72 $93,291.90
129 $93,291.90 $498.61 $0.00 $527.49 $94,318.00
130 $94,318.00 $498.61 $0.00 $533.29 $95,349.90
131 $95,349.90 $498.61 $0.00 $539.12 $96,387.63
132 $96,387.63 $498.61 $0.00 $544.99 $97,431.23
133 $97,431.23 $498.61 $0.00 $550.89 $98,480.73
134 $98,480.73 $498.61 $0.00 $556.82 $99,536.16
135 $99,536.16 $498.61 $0.00 $562.79 $100,597.56
136 $100,597.56 $498.61 $0.00 $568.79 $101,664.96
137 $101,664.96 $498.61 $0.00 $574.83 $102,738.40
138 $102,738.40 $498.61 $0.00 $580.90 $103,817.91
139 $103,817.91 $498.61 $0.00 $587.00 $104,903.52
140 $104,903.52 $498.61 $0.00 $593.14 $105,995.27
141 $105,995.27 $498.61 $0.00 $599.31 $107,093.19
142 $107,093.19 $498.61 $0.00 $605.52 $108,197.32
143 $108,197.32 $498.61 $0.00 $611.76 $109,307.69
144 $109,307.69 $498.61 $0.00 $618.04 $110,424.34
145 $110,424.34 $498.61 $0.00 $624.36 $111,547.31
146 $111,547.31 $498.61 $0.00 $630.70 $112,676.62
147 $112,676.62 $498.61 $0.00 $637.09 $113,812.32
148 $113,812.32 $498.61 $0.00 $643.51 $114,954.44
149 $114,954.44 $498.61 $0.00 $649.97 $116,103.02
150 $116,103.02 $498.61 $0.00 $656.46 $117,258.09
151 $117,258.09 $498.61 $0.00 $662.99 $118,419.69
152 $118,419.69 $498.61 $0.00 $669.56 $119,587.86
153 $119,587.86 $498.61 $0.00 $676.17 $120,762.64
154 $120,762.64 $498.61 $0.00 $682.81 $121,944.06
155 $121,944.06 $498.61 $0.00 $689.49 $123,132.16
156 $123,132.16 $498.61 $0.00 $696.21 $124,326.98
157 $124,326.98 $498.61 $0.00 $702.96 $125,528.55
158 $125,528.55 $498.61 $0.00 $709.76 $126,736.92
159 $126,736.92 $498.61 $0.00 $716.59 $127,952.12
160 $127,952.12 $498.61 $0.00 $723.46 $129,174.19
161 $129,174.19 $498.61 $0.00 $730.37 $130,403.17
162 $130,403.17 $498.61 $0.00 $737.32 $131,639.10
163 $131,639.10 $498.61 $0.00 $744.31 $132,882.02
164 $132,882.02 $498.61 $0.00 $751.33 $134,131.96
165 $134,131.96 $498.61 $0.00 $758.40 $135,388.97
166 $135,388.97 $498.61 $0.00 $765.51 $136,653.09
167 $136,653.09 $498.61 $0.00 $772.66 $137,924.36
168 $137,924.36 $498.61 $0.00 $779.84 $139,202.81
169 $139,202.81 $498.61 $0.00 $787.07 $140,488.49
170 $140,488.49 $498.61 $0.00 $794.34 $141,781.44
171 $141,781.44 $498.61 $0.00 $801.65 $143,081.70
172 $143,081.70 $498.61 $0.00 $809.00 $144,389.31
173 $144,389.31 $498.61 $0.00 $816.40 $145,704.32
174 $145,704.32 $498.61 $0.00 $823.83 $147,026.76
175 $147,026.76 $498.61 $0.00 $831.31 $148,356.68
176 $148,356.68 $498.61 $0.00 $838.83 $149,694.12
177 $149,694.12 $498.61 $0.00 $846.39 $151,039.12
178 $151,039.12 $498.61 $0.00 $854.00 $152,391.73
179 $152,391.73 $498.61 $0.00 $861.64 $153,751.98
180 $153,751.98 $498.61 $0.00 $869.34 $155,119.93
181 $155,119.93 $498.61 $0.00 $877.07 $156,495.61
182 $156,495.61 $498.61 $0.00 $884.85 $157,879.07
183 $157,879.07 $498.61 $0.00 $892.67 $159,270.35
184 $159,270.35 $498.61 $0.00 $900.54 $160,669.50
185 $160,669.50 $498.61 $0.00 $908.45 $162,076.56
186 $162,076.56 $498.61 $0.00 $916.40 $163,491.57
187 $163,491.57 $498.61 $0.00 $924.41 $164,914.59
188 $164,914.59 $498.61 $0.00 $932.45 $166,345.65
189 $166,345.65 $498.61 $0.00 $940.54 $167,784.80
190 $167,784.80 $498.61 $0.00 $948.68 $169,232.09
191 $169,232.09 $498.61 $0.00 $956.86 $170,687.56
192 $170,687.56 $498.61 $0.00 $965.09 $172,151.26
193 $172,151.26 $498.61 $0.00 $973.37 $173,623.24
194 $173,623.24 $498.61 $0.00 $981.69 $175,103.54
195 $175,103.54 $498.61 $0.00 $990.06 $176,592.21
196 $176,592.21 $498.61 $0.00 $998.48 $178,089.30
197 $178,089.30 $498.61 $0.00 $1,006.94 $179,594.85
198 $179,594.85 $498.61 $0.00 $1,015.46 $181,108.92
199 $181,108.92 $498.61 $0.00 $1,024.02 $182,631.55
200 $182,631.55 $498.61 $0.00 $1,032.63 $184,162.79
201 $184,162.79 $498.61 $0.00 $1,041.28 $185,702.68
202 $185,702.68 $498.61 $0.00 $1,049.99 $187,251.28
203 $187,251.28 $498.61 $0.00 $1,058.75 $188,808.64
204 $188,808.64 $498.61 $0.00 $1,067.55 $190,374.80
205 $190,374.80 $498.61 $0.00 $1,076.41 $191,949.82
206 $191,949.82 $498.61 $0.00 $1,085.31 $193,533.74
207 $193,533.74 $498.61 $0.00 $1,094.27 $195,126.62
208 $195,126.62 $498.61 $0.00 $1,103.27 $196,728.50
209 $196,728.50 $498.61 $0.00 $1,112.33 $198,339.44
210 $198,339.44 $498.61 $0.00 $1,121.44 $199,959.49
211 $199,959.49 $498.61 $0.00 $1,130.60 $201,588.70
212 $201,588.70 $498.61 $0.00 $1,139.81 $203,227.12
213 $203,227.12 $498.61 $0.00 $1,149.08 $204,874.81
214 $204,874.81 $498.61 $0.00 $1,158.39 $206,531.81
215 $206,531.81 $498.61 $0.00 $1,167.76 $208,198.18
216 $208,198.18 $498.61 $0.00 $1,177.18 $209,873.97
217 $209,873.97 $498.61 $58,456.78 $1,186.66 $153,102.46
218 $153,102.46 $498.61 $0.00 $865.66 $154,466.73
219 $154,466.73 $498.61 $0.00 $873.38 $155,838.72
220 $155,838.72 $498.61 $0.00 $881.13 $157,218.46
221 $157,218.46 $498.61 $0.00 $888.94 $158,606.01
222 $158,606.01 $498.61 $0.00 $896.78 $160,001.40
223 $160,001.40 $498.61 $0.00 $904.67 $161,404.68
224 $161,404.68 $498.61 $0.00 $912.61 $162,815.90
225 $162,815.90 $498.61 $0.00 $920.58 $164,235.09
226 $164,235.09 $498.61 $0.00 $928.61 $165,662.31
227 $165,662.31 $498.61 $0.00 $936.68 $167,097.60
228 $167,097.60 $498.61 $0.00 $944.79 $168,541.00
229 $168,541.00 $498.61 $61,379.62 $952.96 $108,612.95
230 $108,612.95 $498.61 $0.00 $614.11 $109,725.67
231 $109,725.67 $498.61 $0.00 $620.40 $110,844.68
232 $110,844.68 $498.61 $0.00 $626.73 $111,970.02
233 $111,970.02 $498.61 $0.00 $633.09 $113,101.72
234 $113,101.72 $498.61 $0.00 $639.49 $114,239.82
235 $114,239.82 $498.61 $0.00 $645.93 $115,384.36
236 $115,384.36 $498.61 $0.00 $652.40 $116,535.37
237 $116,535.37 $498.61 $0.00 $658.91 $117,692.89
238 $117,692.89 $498.61 $0.00 $665.45 $118,856.95
239 $118,856.95 $498.61 $0.00 $672.03 $120,027.59
240 $120,027.59 $498.61 $0.00 $678.65 $121,204.85
241 $121,204.85 $498.61 $64,448.60 $685.31 $57,940.17
242 $57,940.17 $498.61 $0.00 $327.60 $58,766.38
243 $58,766.38 $498.61 $0.00 $332.27 $59,597.26
244 $59,597.26 $498.61 $0.00 $336.97 $60,432.84
245 $60,432.84 $498.61 $0.00 $341.70 $61,273.15
246 $61,273.15 $498.61 $0.00 $346.45 $62,118.21
247 $62,118.21 $498.61 $0.00 $351.23 $62,968.05
248 $62,968.05 $498.61 $0.00 $356.03 $63,822.69
249 $63,822.69 $498.61 $0.00 $360.86 $64,682.16
250 $64,682.16 $498.61 $0.00 $365.72 $65,546.49
251 $65,546.49 $498.61 $0.00 $370.61 $66,415.71
252 $66,415.71 $498.61 $0.00 $375.52 $67,289.84
253 $67,289.84 $0.00 $67,671.03 $380.47 ($0.72)