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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$74,332
Monthly savings required$588

How much will it cost to send your child to Daymar College Paducah Main in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $297,326.79 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $588.40 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$28,664.00
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 $588.40 $0.00 $0.00 $588.40
2 $588.40 $588.40 $0.00 $3.33 $1,180.13
3 $1,180.13 $588.40 $0.00 $6.67 $1,775.20
4 $1,775.20 $588.40 $0.00 $10.04 $2,373.64
5 $2,373.64 $588.40 $0.00 $13.42 $2,975.46
6 $2,975.46 $588.40 $0.00 $16.82 $3,580.68
7 $3,580.68 $588.40 $0.00 $20.25 $4,189.33
8 $4,189.33 $588.40 $0.00 $23.69 $4,801.42
9 $4,801.42 $588.40 $0.00 $27.15 $5,416.97
10 $5,416.97 $588.40 $0.00 $30.63 $6,036.00
11 $6,036.00 $588.40 $0.00 $34.13 $6,658.53
12 $6,658.53 $588.40 $0.00 $37.65 $7,284.58
13 $7,284.58 $588.40 $0.00 $41.19 $7,914.17
14 $7,914.17 $588.40 $0.00 $44.75 $8,547.32
15 $8,547.32 $588.40 $0.00 $48.33 $9,184.05
16 $9,184.05 $588.40 $0.00 $51.93 $9,824.38
17 $9,824.38 $588.40 $0.00 $55.55 $10,468.33
18 $10,468.33 $588.40 $0.00 $59.19 $11,115.92
19 $11,115.92 $588.40 $0.00 $62.85 $11,767.17
20 $11,767.17 $588.40 $0.00 $66.53 $12,422.10
21 $12,422.10 $588.40 $0.00 $70.24 $13,080.74
22 $13,080.74 $588.40 $0.00 $73.96 $13,743.10
23 $13,743.10 $588.40 $0.00 $77.71 $14,409.21
24 $14,409.21 $588.40 $0.00 $81.47 $15,079.08
25 $15,079.08 $588.40 $0.00 $85.26 $15,752.74
26 $15,752.74 $588.40 $0.00 $89.07 $16,430.21
27 $16,430.21 $588.40 $0.00 $92.90 $17,111.51
28 $17,111.51 $588.40 $0.00 $96.75 $17,796.66
29 $17,796.66 $588.40 $0.00 $100.62 $18,485.68
30 $18,485.68 $588.40 $0.00 $104.52 $19,178.60
31 $19,178.60 $588.40 $0.00 $108.44 $19,875.44
32 $19,875.44 $588.40 $0.00 $112.38 $20,576.22
33 $20,576.22 $588.40 $0.00 $116.34 $21,280.96
34 $21,280.96 $588.40 $0.00 $120.33 $21,989.69
35 $21,989.69 $588.40 $0.00 $124.33 $22,702.42
36 $22,702.42 $588.40 $0.00 $128.36 $23,419.18
37 $23,419.18 $588.40 $0.00 $132.42 $24,140.00
38 $24,140.00 $588.40 $0.00 $136.49 $24,864.89
39 $24,864.89 $588.40 $0.00 $140.59 $25,593.88
40 $25,593.88 $588.40 $0.00 $144.71 $26,326.99
41 $26,326.99 $588.40 $0.00 $148.86 $27,064.25
42 $27,064.25 $588.40 $0.00 $153.03 $27,805.68
43 $27,805.68 $588.40 $0.00 $157.22 $28,551.30
44 $28,551.30 $588.40 $0.00 $161.43 $29,301.13
45 $29,301.13 $588.40 $0.00 $165.67 $30,055.20
46 $30,055.20 $588.40 $0.00 $169.94 $30,813.54
47 $30,813.54 $588.40 $0.00 $174.22 $31,576.16
48 $31,576.16 $588.40 $0.00 $178.54 $32,343.10
49 $32,343.10 $588.40 $0.00 $182.87 $33,114.37
50 $33,114.37 $588.40 $0.00 $187.23 $33,890.00
51 $33,890.00 $588.40 $0.00 $191.62 $34,670.02
52 $34,670.02 $588.40 $0.00 $196.03 $35,454.45
53 $35,454.45 $588.40 $0.00 $200.46 $36,243.31
54 $36,243.31 $588.40 $0.00 $204.92 $37,036.63
55 $37,036.63 $588.40 $0.00 $209.41 $37,834.44
56 $37,834.44 $588.40 $0.00 $213.92 $38,636.76
57 $38,636.76 $588.40 $0.00 $218.46 $39,443.62
58 $39,443.62 $588.40 $0.00 $223.02 $40,255.04
59 $40,255.04 $588.40 $0.00 $227.61 $41,071.05
60 $41,071.05 $588.40 $0.00 $232.22 $41,891.67
61 $41,891.67 $588.40 $0.00 $236.86 $42,716.93
62 $42,716.93 $588.40 $0.00 $241.53 $43,546.86
63 $43,546.86 $588.40 $0.00 $246.22 $44,381.48
64 $44,381.48 $588.40 $0.00 $250.94 $45,220.82
65 $45,220.82 $588.40 $0.00 $255.69 $46,064.91
66 $46,064.91 $588.40 $0.00 $260.46 $46,913.77
67 $46,913.77 $588.40 $0.00 $265.26 $47,767.43
68 $47,767.43 $588.40 $0.00 $270.08 $48,625.91
69 $48,625.91 $588.40 $0.00 $274.94 $49,489.25
70 $49,489.25 $588.40 $0.00 $279.82 $50,357.47
71 $50,357.47 $588.40 $0.00 $284.73 $51,230.60
72 $51,230.60 $588.40 $0.00 $289.67 $52,108.67
73 $52,108.67 $588.40 $0.00 $294.63 $52,991.70
74 $52,991.70 $588.40 $0.00 $299.62 $53,879.72
75 $53,879.72 $588.40 $0.00 $304.64 $54,772.76
76 $54,772.76 $588.40 $0.00 $309.69 $55,670.85
77 $55,670.85 $588.40 $0.00 $314.77 $56,574.02
78 $56,574.02 $588.40 $0.00 $319.88 $57,482.30
79 $57,482.30 $588.40 $0.00 $325.01 $58,395.71
80 $58,395.71 $588.40 $0.00 $330.18 $59,314.29
81 $59,314.29 $588.40 $0.00 $335.37 $60,238.06
82 $60,238.06 $588.40 $0.00 $340.59 $61,167.05
83 $61,167.05 $588.40 $0.00 $345.85 $62,101.30
84 $62,101.30 $588.40 $0.00 $351.13 $63,040.83
85 $63,040.83 $588.40 $0.00 $356.44 $63,985.67
86 $63,985.67 $588.40 $0.00 $361.78 $64,935.85
87 $64,935.85 $588.40 $0.00 $367.16 $65,891.41
88 $65,891.41 $588.40 $0.00 $372.56 $66,852.37
89 $66,852.37 $588.40 $0.00 $377.99 $67,818.76
90 $67,818.76 $588.40 $0.00 $383.46 $68,790.62
91 $68,790.62 $588.40 $0.00 $388.95 $69,767.97
92 $69,767.97 $588.40 $0.00 $394.48 $70,750.85
93 $70,750.85 $588.40 $0.00 $400.04 $71,739.29
94 $71,739.29 $588.40 $0.00 $405.62 $72,733.31
95 $72,733.31 $588.40 $0.00 $411.24 $73,732.95
96 $73,732.95 $588.40 $0.00 $416.90 $74,738.25
97 $74,738.25 $588.40 $0.00 $422.58 $75,749.23
98 $75,749.23 $588.40 $0.00 $428.30 $76,765.93
99 $76,765.93 $588.40 $0.00 $434.05 $77,788.38
100 $77,788.38 $588.40 $0.00 $439.83 $78,816.61
101 $78,816.61 $588.40 $0.00 $445.64 $79,850.65
102 $79,850.65 $588.40 $0.00 $451.49 $80,890.54
103 $80,890.54 $588.40 $0.00 $457.37 $81,936.31
104 $81,936.31 $588.40 $0.00 $463.28 $82,987.99
105 $82,987.99 $588.40 $0.00 $469.23 $84,045.62
106 $84,045.62 $588.40 $0.00 $475.21 $85,109.23
107 $85,109.23 $588.40 $0.00 $481.22 $86,178.85
108 $86,178.85 $588.40 $0.00 $487.27 $87,254.52
109 $87,254.52 $588.40 $0.00 $493.35 $88,336.27
110 $88,336.27 $588.40 $0.00 $499.47 $89,424.14
111 $89,424.14 $588.40 $0.00 $505.62 $90,518.16
112 $90,518.16 $588.40 $0.00 $511.80 $91,618.36
113 $91,618.36 $588.40 $0.00 $518.02 $92,724.78
114 $92,724.78 $588.40 $0.00 $524.28 $93,837.46
115 $93,837.46 $588.40 $0.00 $530.57 $94,956.43
116 $94,956.43 $588.40 $0.00 $536.90 $96,081.73
117 $96,081.73 $588.40 $0.00 $543.26 $97,213.39
118 $97,213.39 $588.40 $0.00 $549.66 $98,351.45
119 $98,351.45 $588.40 $0.00 $556.09 $99,495.94
120 $99,495.94 $588.40 $0.00 $562.56 $100,646.90
121 $100,646.90 $588.40 $0.00 $569.07 $101,804.37
122 $101,804.37 $588.40 $0.00 $575.62 $102,968.39
123 $102,968.39 $588.40 $0.00 $582.20 $104,138.99
124 $104,138.99 $588.40 $0.00 $588.82 $105,316.21
125 $105,316.21 $588.40 $0.00 $595.47 $106,500.08
126 $106,500.08 $588.40 $0.00 $602.17 $107,690.65
127 $107,690.65 $588.40 $0.00 $608.90 $108,887.95
128 $108,887.95 $588.40 $0.00 $615.67 $110,092.02
129 $110,092.02 $588.40 $0.00 $622.48 $111,302.90
130 $111,302.90 $588.40 $0.00 $629.32 $112,520.62
131 $112,520.62 $588.40 $0.00 $636.21 $113,745.23
132 $113,745.23 $588.40 $0.00 $643.13 $114,976.76
133 $114,976.76 $588.40 $0.00 $650.10 $116,215.26
134 $116,215.26 $588.40 $0.00 $657.10 $117,460.76
135 $117,460.76 $588.40 $0.00 $664.14 $118,713.30
136 $118,713.30 $588.40 $0.00 $671.22 $119,972.92
137 $119,972.92 $588.40 $0.00 $678.34 $121,239.66
138 $121,239.66 $588.40 $0.00 $685.51 $122,513.57
139 $122,513.57 $588.40 $0.00 $692.71 $123,794.68
140 $123,794.68 $588.40 $0.00 $699.95 $125,083.03
141 $125,083.03 $588.40 $0.00 $707.24 $126,378.67
142 $126,378.67 $588.40 $0.00 $714.56 $127,681.63
143 $127,681.63 $588.40 $0.00 $721.93 $128,991.96
144 $128,991.96 $588.40 $0.00 $729.34 $130,309.70
145 $130,309.70 $588.40 $0.00 $736.79 $131,634.89
146 $131,634.89 $588.40 $0.00 $744.28 $132,967.57
147 $132,967.57 $588.40 $0.00 $751.82 $134,307.79
148 $134,307.79 $588.40 $0.00 $759.40 $135,655.59
149 $135,655.59 $588.40 $0.00 $767.02 $137,011.01
150 $137,011.01 $588.40 $0.00 $774.68 $138,374.09
151 $138,374.09 $588.40 $0.00 $782.39 $139,744.88
152 $139,744.88 $588.40 $0.00 $790.14 $141,123.42
153 $141,123.42 $588.40 $0.00 $797.93 $142,509.75
154 $142,509.75 $588.40 $0.00 $805.77 $143,903.92
155 $143,903.92 $588.40 $0.00 $813.65 $145,305.97
156 $145,305.97 $588.40 $0.00 $821.58 $146,715.95
157 $146,715.95 $588.40 $0.00 $829.55 $148,133.90
158 $148,133.90 $588.40 $0.00 $837.57 $149,559.87
159 $149,559.87 $588.40 $0.00 $845.63 $150,993.90
160 $150,993.90 $588.40 $0.00 $853.74 $152,436.04
161 $152,436.04 $588.40 $0.00 $861.90 $153,886.34
162 $153,886.34 $588.40 $0.00 $870.10 $155,344.84
163 $155,344.84 $588.40 $0.00 $878.34 $156,811.58
164 $156,811.58 $588.40 $0.00 $886.64 $158,286.62
165 $158,286.62 $588.40 $0.00 $894.98 $159,770.00
166 $159,770.00 $588.40 $0.00 $903.36 $161,261.76
167 $161,261.76 $588.40 $0.00 $911.80 $162,761.96
168 $162,761.96 $588.40 $0.00 $920.28 $164,270.64
169 $164,270.64 $588.40 $0.00 $928.81 $165,787.85
170 $165,787.85 $588.40 $0.00 $937.39 $167,313.64
171 $167,313.64 $588.40 $0.00 $946.02 $168,848.06
172 $168,848.06 $588.40 $0.00 $954.69 $170,391.15
173 $170,391.15 $588.40 $0.00 $963.42 $171,942.97
174 $171,942.97 $588.40 $0.00 $972.19 $173,503.56
175 $173,503.56 $588.40 $0.00 $981.01 $175,072.97
176 $175,072.97 $588.40 $0.00 $989.89 $176,651.26
177 $176,651.26 $588.40 $0.00 $998.81 $178,238.47
178 $178,238.47 $588.40 $0.00 $1,007.79 $179,834.66
179 $179,834.66 $588.40 $0.00 $1,016.81 $181,439.87
180 $181,439.87 $588.40 $0.00 $1,025.89 $183,054.16
181 $183,054.16 $588.40 $0.00 $1,035.01 $184,677.57
182 $184,677.57 $588.40 $0.00 $1,044.19 $186,310.16
183 $186,310.16 $588.40 $0.00 $1,053.42 $187,951.98
184 $187,951.98 $588.40 $0.00 $1,062.71 $189,603.09
185 $189,603.09 $588.40 $0.00 $1,072.04 $191,263.53
186 $191,263.53 $588.40 $0.00 $1,081.43 $192,933.36
187 $192,933.36 $588.40 $0.00 $1,090.87 $194,612.63
188 $194,612.63 $588.40 $0.00 $1,100.37 $196,301.40
189 $196,301.40 $588.40 $0.00 $1,109.92 $197,999.72
190 $197,999.72 $588.40 $0.00 $1,119.52 $199,707.64
191 $199,707.64 $588.40 $0.00 $1,129.18 $201,425.22
192 $201,425.22 $588.40 $0.00 $1,138.89 $203,152.51
193 $203,152.51 $588.40 $0.00 $1,148.65 $204,889.56
194 $204,889.56 $588.40 $0.00 $1,158.48 $206,636.44
195 $206,636.44 $588.40 $0.00 $1,168.35 $208,393.19
196 $208,393.19 $588.40 $0.00 $1,178.29 $210,159.88
197 $210,159.88 $588.40 $0.00 $1,188.27 $211,936.55
198 $211,936.55 $588.40 $0.00 $1,198.32 $213,723.27
199 $213,723.27 $588.40 $0.00 $1,208.42 $215,520.09
200 $215,520.09 $588.40 $0.00 $1,218.58 $217,327.07
201 $217,327.07 $588.40 $0.00 $1,228.80 $219,144.27
202 $219,144.27 $588.40 $0.00 $1,239.07 $220,971.74
203 $220,971.74 $588.40 $0.00 $1,249.41 $222,809.55
204 $222,809.55 $588.40 $0.00 $1,259.80 $224,657.75
205 $224,657.75 $588.40 $0.00 $1,270.25 $226,516.40
206 $226,516.40 $588.40 $0.00 $1,280.76 $228,385.56
207 $228,385.56 $588.40 $0.00 $1,291.33 $230,265.29
208 $230,265.29 $588.40 $0.00 $1,301.95 $232,155.64
209 $232,155.64 $588.40 $0.00 $1,312.64 $234,056.68
210 $234,056.68 $588.40 $0.00 $1,323.39 $235,968.47
211 $235,968.47 $588.40 $0.00 $1,334.20 $237,891.07
212 $237,891.07 $588.40 $0.00 $1,345.07 $239,824.54
213 $239,824.54 $588.40 $0.00 $1,356.00 $241,768.94
214 $241,768.94 $588.40 $0.00 $1,367.00 $243,724.34
215 $243,724.34 $588.40 $0.00 $1,378.05 $245,690.79
216 $245,690.79 $588.40 $0.00 $1,389.17 $247,668.36
217 $247,668.36 $588.40 $68,983.33 $1,400.35 $180,673.78
218 $180,673.78 $588.40 $0.00 $1,021.56 $182,283.74
219 $182,283.74 $588.40 $0.00 $1,030.66 $183,902.80
220 $183,902.80 $588.40 $0.00 $1,039.81 $185,531.01
221 $185,531.01 $588.40 $0.00 $1,049.02 $187,168.43
222 $187,168.43 $588.40 $0.00 $1,058.28 $188,815.11
223 $188,815.11 $588.40 $0.00 $1,067.59 $190,471.10
224 $190,471.10 $588.40 $0.00 $1,076.95 $192,136.45
225 $192,136.45 $588.40 $0.00 $1,086.37 $193,811.22
226 $193,811.22 $588.40 $0.00 $1,095.84 $195,495.46
227 $195,495.46 $588.40 $0.00 $1,105.36 $197,189.22
228 $197,189.22 $588.40 $0.00 $1,114.94 $198,892.56
229 $198,892.56 $588.40 $72,432.50 $1,124.57 $128,173.03
230 $128,173.03 $588.40 $0.00 $724.71 $129,486.14
231 $129,486.14 $588.40 $0.00 $732.13 $130,806.67
232 $130,806.67 $588.40 $0.00 $739.60 $132,134.67
233 $132,134.67 $588.40 $0.00 $747.11 $133,470.18
234 $133,470.18 $588.40 $0.00 $754.66 $134,813.24
235 $134,813.24 $588.40 $0.00 $762.25 $136,163.89
236 $136,163.89 $588.40 $0.00 $769.89 $137,522.18
237 $137,522.18 $588.40 $0.00 $777.57 $138,888.15
238 $138,888.15 $588.40 $0.00 $785.29 $140,261.84
239 $140,261.84 $588.40 $0.00 $793.06 $141,643.30
240 $141,643.30 $588.40 $0.00 $800.87 $143,032.57
241 $143,032.57 $588.40 $76,054.13 $808.73 $68,375.57
242 $68,375.57 $588.40 $0.00 $386.61 $69,350.58
243 $69,350.58 $588.40 $0.00 $392.12 $70,331.10
244 $70,331.10 $588.40 $0.00 $397.66 $71,317.16
245 $71,317.16 $588.40 $0.00 $403.24 $72,308.80
246 $72,308.80 $588.40 $0.00 $408.84 $73,306.04
247 $73,306.04 $588.40 $0.00 $414.48 $74,308.92
248 $74,308.92 $588.40 $0.00 $420.15 $75,317.47
249 $75,317.47 $588.40 $0.00 $425.86 $76,331.73
250 $76,331.73 $588.40 $0.00 $431.59 $77,351.72
251 $77,351.72 $588.40 $0.00 $437.36 $78,377.48
252 $78,377.48 $588.40 $0.00 $443.16 $79,409.04
253 $79,409.04 $0.00 $79,856.83 $448.99 $1.20