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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$49,054
Monthly savings required$218

How much will it cost to send your child to Northwest Louisiana Technical College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $98,108.96 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $218.02 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$19,886.00
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 $218.02 $0.00 $0.00 $218.02
2 $218.02 $218.02 $0.00 $1.23 $437.27
3 $437.27 $218.02 $0.00 $2.47 $657.76
4 $657.76 $218.02 $0.00 $3.72 $879.50
5 $879.50 $218.02 $0.00 $4.97 $1,102.49
6 $1,102.49 $218.02 $0.00 $6.23 $1,326.74
7 $1,326.74 $218.02 $0.00 $7.50 $1,552.26
8 $1,552.26 $218.02 $0.00 $8.78 $1,779.06
9 $1,779.06 $218.02 $0.00 $10.06 $2,007.14
10 $2,007.14 $218.02 $0.00 $11.35 $2,236.51
11 $2,236.51 $218.02 $0.00 $12.65 $2,467.18
12 $2,467.18 $218.02 $0.00 $13.95 $2,699.15
13 $2,699.15 $218.02 $0.00 $15.26 $2,932.43
14 $2,932.43 $218.02 $0.00 $16.58 $3,167.03
15 $3,167.03 $218.02 $0.00 $17.91 $3,402.96
16 $3,402.96 $218.02 $0.00 $19.24 $3,640.22
17 $3,640.22 $218.02 $0.00 $20.58 $3,878.82
18 $3,878.82 $218.02 $0.00 $21.93 $4,118.77
19 $4,118.77 $218.02 $0.00 $23.29 $4,360.08
20 $4,360.08 $218.02 $0.00 $24.65 $4,602.75
21 $4,602.75 $218.02 $0.00 $26.02 $4,846.79
22 $4,846.79 $218.02 $0.00 $27.40 $5,092.21
23 $5,092.21 $218.02 $0.00 $28.79 $5,339.02
24 $5,339.02 $218.02 $0.00 $30.19 $5,587.23
25 $5,587.23 $218.02 $0.00 $31.59 $5,836.84
26 $5,836.84 $218.02 $0.00 $33.00 $6,087.86
27 $6,087.86 $218.02 $0.00 $34.42 $6,340.30
28 $6,340.30 $218.02 $0.00 $35.85 $6,594.17
29 $6,594.17 $218.02 $0.00 $37.28 $6,849.47
30 $6,849.47 $218.02 $0.00 $38.73 $7,106.22
31 $7,106.22 $218.02 $0.00 $40.18 $7,364.42
32 $7,364.42 $218.02 $0.00 $41.64 $7,624.08
33 $7,624.08 $218.02 $0.00 $43.11 $7,885.21
34 $7,885.21 $218.02 $0.00 $44.58 $8,147.81
35 $8,147.81 $218.02 $0.00 $46.07 $8,411.90
36 $8,411.90 $218.02 $0.00 $47.56 $8,677.48
37 $8,677.48 $218.02 $0.00 $49.06 $8,944.56
38 $8,944.56 $218.02 $0.00 $50.57 $9,213.15
39 $9,213.15 $218.02 $0.00 $52.09 $9,483.26
40 $9,483.26 $218.02 $0.00 $53.62 $9,754.90
41 $9,754.90 $218.02 $0.00 $55.16 $10,028.08
42 $10,028.08 $218.02 $0.00 $56.70 $10,302.80
43 $10,302.80 $218.02 $0.00 $58.25 $10,579.07
44 $10,579.07 $218.02 $0.00 $59.82 $10,856.91
45 $10,856.91 $218.02 $0.00 $61.39 $11,136.32
46 $11,136.32 $218.02 $0.00 $62.97 $11,417.31
47 $11,417.31 $218.02 $0.00 $64.56 $11,699.89
48 $11,699.89 $218.02 $0.00 $66.15 $11,984.06
49 $11,984.06 $218.02 $0.00 $67.76 $12,269.84
50 $12,269.84 $218.02 $0.00 $69.38 $12,557.24
51 $12,557.24 $218.02 $0.00 $71.00 $12,846.26
52 $12,846.26 $218.02 $0.00 $72.63 $13,136.91
53 $13,136.91 $218.02 $0.00 $74.28 $13,429.21
54 $13,429.21 $218.02 $0.00 $75.93 $13,723.16
55 $13,723.16 $218.02 $0.00 $77.59 $14,018.77
56 $14,018.77 $218.02 $0.00 $79.26 $14,316.05
57 $14,316.05 $218.02 $0.00 $80.95 $14,615.02
58 $14,615.02 $218.02 $0.00 $82.64 $14,915.68
59 $14,915.68 $218.02 $0.00 $84.34 $15,218.04
60 $15,218.04 $218.02 $0.00 $86.05 $15,522.11
61 $15,522.11 $218.02 $0.00 $87.76 $15,827.89
62 $15,827.89 $218.02 $0.00 $89.49 $16,135.40
63 $16,135.40 $218.02 $0.00 $91.23 $16,444.65
64 $16,444.65 $218.02 $0.00 $92.98 $16,755.65
65 $16,755.65 $218.02 $0.00 $94.74 $17,068.41
66 $17,068.41 $218.02 $0.00 $96.51 $17,382.94
67 $17,382.94 $218.02 $0.00 $98.29 $17,699.25
68 $17,699.25 $218.02 $0.00 $100.07 $18,017.34
69 $18,017.34 $218.02 $0.00 $101.87 $18,337.23
70 $18,337.23 $218.02 $0.00 $103.68 $18,658.93
71 $18,658.93 $218.02 $0.00 $105.50 $18,982.45
72 $18,982.45 $218.02 $0.00 $107.33 $19,307.80
73 $19,307.80 $218.02 $0.00 $109.17 $19,634.99
74 $19,634.99 $218.02 $0.00 $111.02 $19,964.03
75 $19,964.03 $218.02 $0.00 $112.88 $20,294.93
76 $20,294.93 $218.02 $0.00 $114.75 $20,627.70
77 $20,627.70 $218.02 $0.00 $116.63 $20,962.35
78 $20,962.35 $218.02 $0.00 $118.52 $21,298.89
79 $21,298.89 $218.02 $0.00 $120.43 $21,637.34
80 $21,637.34 $218.02 $0.00 $122.34 $21,977.70
81 $21,977.70 $218.02 $0.00 $124.27 $22,319.99
82 $22,319.99 $218.02 $0.00 $126.20 $22,664.21
83 $22,664.21 $218.02 $0.00 $128.15 $23,010.38
84 $23,010.38 $218.02 $0.00 $130.10 $23,358.50
85 $23,358.50 $218.02 $0.00 $132.07 $23,708.59
86 $23,708.59 $218.02 $0.00 $134.05 $24,060.66
87 $24,060.66 $218.02 $0.00 $136.04 $24,414.72
88 $24,414.72 $218.02 $0.00 $138.04 $24,770.78
89 $24,770.78 $218.02 $0.00 $140.06 $25,128.86
90 $25,128.86 $218.02 $0.00 $142.08 $25,488.96
91 $25,488.96 $218.02 $0.00 $144.12 $25,851.10
92 $25,851.10 $218.02 $0.00 $146.17 $26,215.29
93 $26,215.29 $218.02 $0.00 $148.23 $26,581.54
94 $26,581.54 $218.02 $0.00 $150.30 $26,949.86
95 $26,949.86 $218.02 $0.00 $152.38 $27,320.26
96 $27,320.26 $218.02 $0.00 $154.47 $27,692.75
97 $27,692.75 $218.02 $0.00 $156.58 $28,067.35
98 $28,067.35 $218.02 $0.00 $158.70 $28,444.07
99 $28,444.07 $218.02 $0.00 $160.83 $28,822.92
100 $28,822.92 $218.02 $0.00 $162.97 $29,203.91
101 $29,203.91 $218.02 $0.00 $165.12 $29,587.05
102 $29,587.05 $218.02 $0.00 $167.29 $29,972.36
103 $29,972.36 $218.02 $0.00 $169.47 $30,359.85
104 $30,359.85 $218.02 $0.00 $171.66 $30,749.53
105 $30,749.53 $218.02 $0.00 $173.86 $31,141.41
106 $31,141.41 $218.02 $0.00 $176.08 $31,535.51
107 $31,535.51 $218.02 $0.00 $178.31 $31,931.84
108 $31,931.84 $218.02 $0.00 $180.55 $32,330.41
109 $32,330.41 $218.02 $0.00 $182.80 $32,731.23
110 $32,731.23 $218.02 $0.00 $185.07 $33,134.32
111 $33,134.32 $218.02 $0.00 $187.35 $33,539.69
112 $33,539.69 $218.02 $0.00 $189.64 $33,947.35
113 $33,947.35 $218.02 $0.00 $191.94 $34,357.31
114 $34,357.31 $218.02 $0.00 $194.26 $34,769.59
115 $34,769.59 $218.02 $0.00 $196.59 $35,184.20
116 $35,184.20 $218.02 $0.00 $198.94 $35,601.16
117 $35,601.16 $218.02 $0.00 $201.29 $36,020.47
118 $36,020.47 $218.02 $0.00 $203.66 $36,442.15
119 $36,442.15 $218.02 $0.00 $206.05 $36,866.22
120 $36,866.22 $218.02 $0.00 $208.45 $37,292.69
121 $37,292.69 $218.02 $0.00 $210.86 $37,721.57
122 $37,721.57 $218.02 $0.00 $213.28 $38,152.87
123 $38,152.87 $218.02 $0.00 $215.72 $38,586.61
124 $38,586.61 $218.02 $0.00 $218.17 $39,022.80
125 $39,022.80 $218.02 $0.00 $220.64 $39,461.46
126 $39,461.46 $218.02 $0.00 $223.12 $39,902.60
127 $39,902.60 $218.02 $0.00 $225.62 $40,346.24
128 $40,346.24 $218.02 $0.00 $228.12 $40,792.38
129 $40,792.38 $218.02 $0.00 $230.65 $41,241.05
130 $41,241.05 $218.02 $0.00 $233.18 $41,692.25
131 $41,692.25 $218.02 $0.00 $235.73 $42,146.00
132 $42,146.00 $218.02 $0.00 $238.30 $42,602.32
133 $42,602.32 $218.02 $0.00 $240.88 $43,061.22
134 $43,061.22 $218.02 $0.00 $243.47 $43,522.71
135 $43,522.71 $218.02 $0.00 $246.08 $43,986.81
136 $43,986.81 $218.02 $0.00 $248.71 $44,453.54
137 $44,453.54 $218.02 $0.00 $251.35 $44,922.91
138 $44,922.91 $218.02 $0.00 $254.00 $45,394.93
139 $45,394.93 $218.02 $0.00 $256.67 $45,869.62
140 $45,869.62 $218.02 $0.00 $259.35 $46,346.99
141 $46,346.99 $218.02 $0.00 $262.05 $46,827.06
142 $46,827.06 $218.02 $0.00 $264.77 $47,309.85
143 $47,309.85 $218.02 $0.00 $267.50 $47,795.37
144 $47,795.37 $218.02 $0.00 $270.24 $48,283.63
145 $48,283.63 $218.02 $0.00 $273.00 $48,774.65
146 $48,774.65 $218.02 $0.00 $275.78 $49,268.45
147 $49,268.45 $218.02 $0.00 $278.57 $49,765.04
148 $49,765.04 $218.02 $0.00 $281.38 $50,264.44
149 $50,264.44 $218.02 $0.00 $284.20 $50,766.66
150 $50,766.66 $218.02 $0.00 $287.04 $51,271.72
151 $51,271.72 $218.02 $0.00 $289.90 $51,779.64
152 $51,779.64 $218.02 $0.00 $292.77 $52,290.43
153 $52,290.43 $218.02 $0.00 $295.66 $52,804.11
154 $52,804.11 $218.02 $0.00 $298.56 $53,320.69
155 $53,320.69 $218.02 $0.00 $301.48 $53,840.19
156 $53,840.19 $218.02 $0.00 $304.42 $54,362.63
157 $54,362.63 $218.02 $0.00 $307.37 $54,888.02
158 $54,888.02 $218.02 $0.00 $310.34 $55,416.38
159 $55,416.38 $218.02 $0.00 $313.33 $55,947.73
160 $55,947.73 $218.02 $0.00 $316.34 $56,482.09
161 $56,482.09 $218.02 $0.00 $319.36 $57,019.47
162 $57,019.47 $218.02 $0.00 $322.40 $57,559.89
163 $57,559.89 $218.02 $0.00 $325.45 $58,103.36
164 $58,103.36 $218.02 $0.00 $328.52 $58,649.90
165 $58,649.90 $218.02 $0.00 $331.62 $59,199.54
166 $59,199.54 $218.02 $0.00 $334.72 $59,752.28
167 $59,752.28 $218.02 $0.00 $337.85 $60,308.15
168 $60,308.15 $218.02 $0.00 $340.99 $60,867.16
169 $60,867.16 $218.02 $0.00 $344.15 $61,429.33
170 $61,429.33 $218.02 $0.00 $347.33 $61,994.68
171 $61,994.68 $218.02 $0.00 $350.53 $62,563.23
172 $62,563.23 $218.02 $0.00 $353.74 $63,134.99
173 $63,134.99 $218.02 $0.00 $356.97 $63,709.98
174 $63,709.98 $218.02 $0.00 $360.23 $64,288.23
175 $64,288.23 $218.02 $0.00 $363.49 $64,869.74
176 $64,869.74 $218.02 $0.00 $366.78 $65,454.54
177 $65,454.54 $218.02 $0.00 $370.09 $66,042.65
178 $66,042.65 $218.02 $0.00 $373.41 $66,634.08
179 $66,634.08 $218.02 $0.00 $376.76 $67,228.86
180 $67,228.86 $218.02 $0.00 $380.12 $67,827.00
181 $67,827.00 $218.02 $0.00 $383.50 $68,428.52
182 $68,428.52 $218.02 $0.00 $386.90 $69,033.44
183 $69,033.44 $218.02 $0.00 $390.33 $69,641.79
184 $69,641.79 $218.02 $0.00 $393.76 $70,253.57
185 $70,253.57 $218.02 $0.00 $397.22 $70,868.81
186 $70,868.81 $218.02 $0.00 $400.70 $71,487.53
187 $71,487.53 $218.02 $0.00 $404.20 $72,109.75
188 $72,109.75 $218.02 $0.00 $407.72 $72,735.49
189 $72,735.49 $218.02 $0.00 $411.26 $73,364.77
190 $73,364.77 $218.02 $0.00 $414.82 $73,997.61
191 $73,997.61 $218.02 $0.00 $418.39 $74,634.02
192 $74,634.02 $218.02 $0.00 $421.99 $75,274.03
193 $75,274.03 $218.02 $0.00 $425.61 $75,917.66
194 $75,917.66 $218.02 $0.00 $429.25 $76,564.93
195 $76,564.93 $218.02 $0.00 $432.91 $77,215.86
196 $77,215.86 $218.02 $0.00 $436.59 $77,870.47
197 $77,870.47 $218.02 $0.00 $440.29 $78,528.78
198 $78,528.78 $218.02 $0.00 $444.01 $79,190.81
199 $79,190.81 $218.02 $0.00 $447.76 $79,856.59
200 $79,856.59 $218.02 $0.00 $451.52 $80,526.13
201 $80,526.13 $218.02 $0.00 $455.31 $81,199.46
202 $81,199.46 $218.02 $0.00 $459.11 $81,876.59
203 $81,876.59 $218.02 $0.00 $462.94 $82,557.55
204 $82,557.55 $218.02 $0.00 $466.79 $83,242.36
205 $83,242.36 $218.02 $0.00 $470.66 $83,931.04
206 $83,931.04 $218.02 $0.00 $474.56 $84,623.62
207 $84,623.62 $218.02 $0.00 $478.47 $85,320.11
208 $85,320.11 $218.02 $0.00 $482.41 $86,020.54
209 $86,020.54 $218.02 $0.00 $486.37 $86,724.93
210 $86,724.93 $218.02 $0.00 $490.36 $87,433.31
211 $87,433.31 $218.02 $0.00 $494.36 $88,145.69
212 $88,145.69 $218.02 $0.00 $498.39 $88,862.10
213 $88,862.10 $218.02 $0.00 $502.44 $89,582.56
214 $89,582.56 $218.02 $0.00 $506.51 $90,307.09
215 $90,307.09 $218.02 $0.00 $510.61 $91,035.72
216 $91,035.72 $218.02 $0.00 $514.73 $91,768.47
217 $91,768.47 $218.02 $47,858.03 $518.87 $44,647.33
218 $44,647.33 $218.02 $0.00 $252.44 $45,117.79
219 $45,117.79 $218.02 $0.00 $255.10 $45,590.91
220 $45,590.91 $218.02 $0.00 $257.78 $46,066.71
221 $46,066.71 $218.02 $0.00 $260.47 $46,545.20
222 $46,545.20 $218.02 $0.00 $263.17 $47,026.39
223 $47,026.39 $218.02 $0.00 $265.89 $47,510.30
224 $47,510.30 $218.02 $0.00 $268.63 $47,996.95
225 $47,996.95 $218.02 $0.00 $271.38 $48,486.35
226 $48,486.35 $218.02 $0.00 $274.15 $48,978.52
227 $48,978.52 $218.02 $0.00 $276.93 $49,473.47
228 $49,473.47 $218.02 $0.00 $279.73 $49,971.22
229 $49,971.22 $0.00 $50,250.93 $282.54 $2.83