How much will it cost and what do you need to save?
| Estimated Annual Cost in 2041 | $54,146 |
| Monthly savings required | $241 |
How much will it cost to send your child to Lake Michigan College in 18 years and how much do you need to save? A 2 year degree is estimated to be priced at $108,291.85 for students enrolling in 2041 if tuition increases average 5% per year until then. Assuming you have no current college savings, monthly deposits of $240.64 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.
| Current Annual Cost | $21,950.00 |
| Years until enrollment | 18 |
| Annual Tuition Increase | 5% |
| Current Savings | $0.00 |
| After Tax Return on Savings | 7% |
| Years of enrollment | 2 |
Discover how much will you need to start saving now to afford Lake Michigan College in the future.
| Month | Begin | Deposit | Withdraw | Interest | End |
|---|---|---|---|---|---|
| 1 | $0.00 | $240.64 | $0.00 | $0.00 | $240.64 |
| 2 | $240.64 | $240.64 | $0.00 | $1.36 | $482.64 |
| 3 | $482.64 | $240.64 | $0.00 | $2.73 | $726.01 |
| 4 | $726.01 | $240.64 | $0.00 | $4.10 | $970.75 |
| 5 | $970.75 | $240.64 | $0.00 | $5.49 | $1,216.88 |
| 6 | $1,216.88 | $240.64 | $0.00 | $6.88 | $1,464.40 |
| 7 | $1,464.40 | $240.64 | $0.00 | $8.28 | $1,713.32 |
| 8 | $1,713.32 | $240.64 | $0.00 | $9.69 | $1,963.65 |
| 9 | $1,963.65 | $240.64 | $0.00 | $11.10 | $2,215.39 |
| 10 | $2,215.39 | $240.64 | $0.00 | $12.53 | $2,468.56 |
| 11 | $2,468.56 | $240.64 | $0.00 | $13.96 | $2,723.16 |
| 12 | $2,723.16 | $240.64 | $0.00 | $15.40 | $2,979.20 |
| 13 | $2,979.20 | $240.64 | $0.00 | $16.84 | $3,236.68 |
| 14 | $3,236.68 | $240.64 | $0.00 | $18.30 | $3,495.62 |
| 15 | $3,495.62 | $240.64 | $0.00 | $19.76 | $3,756.02 |
| 16 | $3,756.02 | $240.64 | $0.00 | $21.24 | $4,017.90 |
| 17 | $4,017.90 | $240.64 | $0.00 | $22.72 | $4,281.26 |
| 18 | $4,281.26 | $240.64 | $0.00 | $24.21 | $4,546.11 |
| 19 | $4,546.11 | $240.64 | $0.00 | $25.70 | $4,812.45 |
| 20 | $4,812.45 | $240.64 | $0.00 | $27.21 | $5,080.30 |
| 21 | $5,080.30 | $240.64 | $0.00 | $28.72 | $5,349.66 |
| 22 | $5,349.66 | $240.64 | $0.00 | $30.25 | $5,620.55 |
| 23 | $5,620.55 | $240.64 | $0.00 | $31.78 | $5,892.97 |
| 24 | $5,892.97 | $240.64 | $0.00 | $33.32 | $6,166.93 |
| 25 | $6,166.93 | $240.64 | $0.00 | $34.87 | $6,442.44 |
| 26 | $6,442.44 | $240.64 | $0.00 | $36.43 | $6,719.51 |
| 27 | $6,719.51 | $240.64 | $0.00 | $37.99 | $6,998.14 |
| 28 | $6,998.14 | $240.64 | $0.00 | $39.57 | $7,278.35 |
| 29 | $7,278.35 | $240.64 | $0.00 | $41.15 | $7,560.14 |
| 30 | $7,560.14 | $240.64 | $0.00 | $42.75 | $7,843.53 |
| 31 | $7,843.53 | $240.64 | $0.00 | $44.35 | $8,128.52 |
| 32 | $8,128.52 | $240.64 | $0.00 | $45.96 | $8,415.12 |
| 33 | $8,415.12 | $240.64 | $0.00 | $47.58 | $8,703.34 |
| 34 | $8,703.34 | $240.64 | $0.00 | $49.21 | $8,993.19 |
| 35 | $8,993.19 | $240.64 | $0.00 | $50.85 | $9,284.68 |
| 36 | $9,284.68 | $240.64 | $0.00 | $52.50 | $9,577.82 |
| 37 | $9,577.82 | $240.64 | $0.00 | $54.15 | $9,872.61 |
| 38 | $9,872.61 | $240.64 | $0.00 | $55.82 | $10,169.07 |
| 39 | $10,169.07 | $240.64 | $0.00 | $57.50 | $10,467.21 |
| 40 | $10,467.21 | $240.64 | $0.00 | $59.18 | $10,767.03 |
| 41 | $10,767.03 | $240.64 | $0.00 | $60.88 | $11,068.55 |
| 42 | $11,068.55 | $240.64 | $0.00 | $62.58 | $11,371.77 |
| 43 | $11,371.77 | $240.64 | $0.00 | $64.30 | $11,676.71 |
| 44 | $11,676.71 | $240.64 | $0.00 | $66.02 | $11,983.37 |
| 45 | $11,983.37 | $240.64 | $0.00 | $67.76 | $12,291.77 |
| 46 | $12,291.77 | $240.64 | $0.00 | $69.50 | $12,601.91 |
| 47 | $12,601.91 | $240.64 | $0.00 | $71.25 | $12,913.80 |
| 48 | $12,913.80 | $240.64 | $0.00 | $73.02 | $13,227.46 |
| 49 | $13,227.46 | $240.64 | $0.00 | $74.79 | $13,542.89 |
| 50 | $13,542.89 | $240.64 | $0.00 | $76.57 | $13,860.10 |
| 51 | $13,860.10 | $240.64 | $0.00 | $78.37 | $14,179.11 |
| 52 | $14,179.11 | $240.64 | $0.00 | $80.17 | $14,499.92 |
| 53 | $14,499.92 | $240.64 | $0.00 | $81.98 | $14,822.54 |
| 54 | $14,822.54 | $240.64 | $0.00 | $83.81 | $15,146.99 |
| 55 | $15,146.99 | $240.64 | $0.00 | $85.64 | $15,473.27 |
| 56 | $15,473.27 | $240.64 | $0.00 | $87.49 | $15,801.40 |
| 57 | $15,801.40 | $240.64 | $0.00 | $89.34 | $16,131.38 |
| 58 | $16,131.38 | $240.64 | $0.00 | $91.21 | $16,463.23 |
| 59 | $16,463.23 | $240.64 | $0.00 | $93.09 | $16,796.96 |
| 60 | $16,796.96 | $240.64 | $0.00 | $94.97 | $17,132.57 |
| 61 | $17,132.57 | $240.64 | $0.00 | $96.87 | $17,470.08 |
| 62 | $17,470.08 | $240.64 | $0.00 | $98.78 | $17,809.50 |
| 63 | $17,809.50 | $240.64 | $0.00 | $100.70 | $18,150.84 |
| 64 | $18,150.84 | $240.64 | $0.00 | $102.63 | $18,494.11 |
| 65 | $18,494.11 | $240.64 | $0.00 | $104.57 | $18,839.32 |
| 66 | $18,839.32 | $240.64 | $0.00 | $106.52 | $19,186.48 |
| 67 | $19,186.48 | $240.64 | $0.00 | $108.48 | $19,535.60 |
| 68 | $19,535.60 | $240.64 | $0.00 | $110.46 | $19,886.70 |
| 69 | $19,886.70 | $240.64 | $0.00 | $112.44 | $20,239.78 |
| 70 | $20,239.78 | $240.64 | $0.00 | $114.44 | $20,594.86 |
| 71 | $20,594.86 | $240.64 | $0.00 | $116.45 | $20,951.95 |
| 72 | $20,951.95 | $240.64 | $0.00 | $118.47 | $21,311.06 |
| 73 | $21,311.06 | $240.64 | $0.00 | $120.50 | $21,672.20 |
| 74 | $21,672.20 | $240.64 | $0.00 | $122.54 | $22,035.38 |
| 75 | $22,035.38 | $240.64 | $0.00 | $124.59 | $22,400.61 |
| 76 | $22,400.61 | $240.64 | $0.00 | $126.66 | $22,767.91 |
| 77 | $22,767.91 | $240.64 | $0.00 | $128.73 | $23,137.28 |
| 78 | $23,137.28 | $240.64 | $0.00 | $130.82 | $23,508.74 |
| 79 | $23,508.74 | $240.64 | $0.00 | $132.92 | $23,882.30 |
| 80 | $23,882.30 | $240.64 | $0.00 | $135.03 | $24,257.97 |
| 81 | $24,257.97 | $240.64 | $0.00 | $137.16 | $24,635.77 |
| 82 | $24,635.77 | $240.64 | $0.00 | $139.29 | $25,015.70 |
| 83 | $25,015.70 | $240.64 | $0.00 | $141.44 | $25,397.78 |
| 84 | $25,397.78 | $240.64 | $0.00 | $143.60 | $25,782.02 |
| 85 | $25,782.02 | $240.64 | $0.00 | $145.78 | $26,168.44 |
| 86 | $26,168.44 | $240.64 | $0.00 | $147.96 | $26,557.04 |
| 87 | $26,557.04 | $240.64 | $0.00 | $150.16 | $26,947.84 |
| 88 | $26,947.84 | $240.64 | $0.00 | $152.37 | $27,340.85 |
| 89 | $27,340.85 | $240.64 | $0.00 | $154.59 | $27,736.08 |
| 90 | $27,736.08 | $240.64 | $0.00 | $156.82 | $28,133.54 |
| 91 | $28,133.54 | $240.64 | $0.00 | $159.07 | $28,533.25 |
| 92 | $28,533.25 | $240.64 | $0.00 | $161.33 | $28,935.22 |
| 93 | $28,935.22 | $240.64 | $0.00 | $163.60 | $29,339.46 |
| 94 | $29,339.46 | $240.64 | $0.00 | $165.89 | $29,745.99 |
| 95 | $29,745.99 | $240.64 | $0.00 | $168.19 | $30,154.82 |
| 96 | $30,154.82 | $240.64 | $0.00 | $170.50 | $30,565.96 |
| 97 | $30,565.96 | $240.64 | $0.00 | $172.82 | $30,979.42 |
| 98 | $30,979.42 | $240.64 | $0.00 | $175.16 | $31,395.22 |
| 99 | $31,395.22 | $240.64 | $0.00 | $177.51 | $31,813.37 |
| 100 | $31,813.37 | $240.64 | $0.00 | $179.88 | $32,233.89 |
| 101 | $32,233.89 | $240.64 | $0.00 | $182.26 | $32,656.79 |
| 102 | $32,656.79 | $240.64 | $0.00 | $184.65 | $33,082.08 |
| 103 | $33,082.08 | $240.64 | $0.00 | $187.05 | $33,509.77 |
| 104 | $33,509.77 | $240.64 | $0.00 | $189.47 | $33,939.88 |
| 105 | $33,939.88 | $240.64 | $0.00 | $191.90 | $34,372.42 |
| 106 | $34,372.42 | $240.64 | $0.00 | $194.35 | $34,807.41 |
| 107 | $34,807.41 | $240.64 | $0.00 | $196.81 | $35,244.86 |
| 108 | $35,244.86 | $240.64 | $0.00 | $199.28 | $35,684.78 |
| 109 | $35,684.78 | $240.64 | $0.00 | $201.77 | $36,127.19 |
| 110 | $36,127.19 | $240.64 | $0.00 | $204.27 | $36,572.10 |
| 111 | $36,572.10 | $240.64 | $0.00 | $206.78 | $37,019.52 |
| 112 | $37,019.52 | $240.64 | $0.00 | $209.31 | $37,469.47 |
| 113 | $37,469.47 | $240.64 | $0.00 | $211.86 | $37,921.97 |
| 114 | $37,921.97 | $240.64 | $0.00 | $214.42 | $38,377.03 |
| 115 | $38,377.03 | $240.64 | $0.00 | $216.99 | $38,834.66 |
| 116 | $38,834.66 | $240.64 | $0.00 | $219.58 | $39,294.88 |
| 117 | $39,294.88 | $240.64 | $0.00 | $222.18 | $39,757.70 |
| 118 | $39,757.70 | $240.64 | $0.00 | $224.80 | $40,223.14 |
| 119 | $40,223.14 | $240.64 | $0.00 | $227.43 | $40,691.21 |
| 120 | $40,691.21 | $240.64 | $0.00 | $230.07 | $41,161.92 |
| 121 | $41,161.92 | $240.64 | $0.00 | $232.74 | $41,635.30 |
| 122 | $41,635.30 | $240.64 | $0.00 | $235.41 | $42,111.35 |
| 123 | $42,111.35 | $240.64 | $0.00 | $238.10 | $42,590.09 |
| 124 | $42,590.09 | $240.64 | $0.00 | $240.81 | $43,071.54 |
| 125 | $43,071.54 | $240.64 | $0.00 | $243.53 | $43,555.71 |
| 126 | $43,555.71 | $240.64 | $0.00 | $246.27 | $44,042.62 |
| 127 | $44,042.62 | $240.64 | $0.00 | $249.02 | $44,532.28 |
| 128 | $44,532.28 | $240.64 | $0.00 | $251.79 | $45,024.71 |
| 129 | $45,024.71 | $240.64 | $0.00 | $254.58 | $45,519.93 |
| 130 | $45,519.93 | $240.64 | $0.00 | $257.38 | $46,017.95 |
| 131 | $46,017.95 | $240.64 | $0.00 | $260.19 | $46,518.78 |
| 132 | $46,518.78 | $240.64 | $0.00 | $263.02 | $47,022.44 |
| 133 | $47,022.44 | $240.64 | $0.00 | $265.87 | $47,528.95 |
| 134 | $47,528.95 | $240.64 | $0.00 | $268.74 | $48,038.33 |
| 135 | $48,038.33 | $240.64 | $0.00 | $271.62 | $48,550.59 |
| 136 | $48,550.59 | $240.64 | $0.00 | $274.51 | $49,065.74 |
| 137 | $49,065.74 | $240.64 | $0.00 | $277.42 | $49,583.80 |
| 138 | $49,583.80 | $240.64 | $0.00 | $280.35 | $50,104.79 |
| 139 | $50,104.79 | $240.64 | $0.00 | $283.30 | $50,628.73 |
| 140 | $50,628.73 | $240.64 | $0.00 | $286.26 | $51,155.63 |
| 141 | $51,155.63 | $240.64 | $0.00 | $289.24 | $51,685.51 |
| 142 | $51,685.51 | $240.64 | $0.00 | $292.24 | $52,218.39 |
| 143 | $52,218.39 | $240.64 | $0.00 | $295.25 | $52,754.28 |
| 144 | $52,754.28 | $240.64 | $0.00 | $298.28 | $53,293.20 |
| 145 | $53,293.20 | $240.64 | $0.00 | $301.33 | $53,835.17 |
| 146 | $53,835.17 | $240.64 | $0.00 | $304.39 | $54,380.20 |
| 147 | $54,380.20 | $240.64 | $0.00 | $307.47 | $54,928.31 |
| 148 | $54,928.31 | $240.64 | $0.00 | $310.57 | $55,479.52 |
| 149 | $55,479.52 | $240.64 | $0.00 | $313.69 | $56,033.85 |
| 150 | $56,033.85 | $240.64 | $0.00 | $316.82 | $56,591.31 |
| 151 | $56,591.31 | $240.64 | $0.00 | $319.98 | $57,151.93 |
| 152 | $57,151.93 | $240.64 | $0.00 | $323.15 | $57,715.72 |
| 153 | $57,715.72 | $240.64 | $0.00 | $326.33 | $58,282.69 |
| 154 | $58,282.69 | $240.64 | $0.00 | $329.54 | $58,852.87 |
| 155 | $58,852.87 | $240.64 | $0.00 | $332.76 | $59,426.27 |
| 156 | $59,426.27 | $240.64 | $0.00 | $336.00 | $60,002.91 |
| 157 | $60,002.91 | $240.64 | $0.00 | $339.27 | $60,582.82 |
| 158 | $60,582.82 | $240.64 | $0.00 | $342.54 | $61,166.00 |
| 159 | $61,166.00 | $240.64 | $0.00 | $345.84 | $61,752.48 |
| 160 | $61,752.48 | $240.64 | $0.00 | $349.16 | $62,342.28 |
| 161 | $62,342.28 | $240.64 | $0.00 | $352.49 | $62,935.41 |
| 162 | $62,935.41 | $240.64 | $0.00 | $355.85 | $63,531.90 |
| 163 | $63,531.90 | $240.64 | $0.00 | $359.22 | $64,131.76 |
| 164 | $64,131.76 | $240.64 | $0.00 | $362.61 | $64,735.01 |
| 165 | $64,735.01 | $240.64 | $0.00 | $366.02 | $65,341.67 |
| 166 | $65,341.67 | $240.64 | $0.00 | $369.45 | $65,951.76 |
| 167 | $65,951.76 | $240.64 | $0.00 | $372.90 | $66,565.30 |
| 168 | $66,565.30 | $240.64 | $0.00 | $376.37 | $67,182.31 |
| 169 | $67,182.31 | $240.64 | $0.00 | $379.86 | $67,802.81 |
| 170 | $67,802.81 | $240.64 | $0.00 | $383.37 | $68,426.82 |
| 171 | $68,426.82 | $240.64 | $0.00 | $386.90 | $69,054.36 |
| 172 | $69,054.36 | $240.64 | $0.00 | $390.44 | $69,685.44 |
| 173 | $69,685.44 | $240.64 | $0.00 | $394.01 | $70,320.09 |
| 174 | $70,320.09 | $240.64 | $0.00 | $397.60 | $70,958.33 |
| 175 | $70,958.33 | $240.64 | $0.00 | $401.21 | $71,600.18 |
| 176 | $71,600.18 | $240.64 | $0.00 | $404.84 | $72,245.66 |
| 177 | $72,245.66 | $240.64 | $0.00 | $408.49 | $72,894.79 |
| 178 | $72,894.79 | $240.64 | $0.00 | $412.16 | $73,547.59 |
| 179 | $73,547.59 | $240.64 | $0.00 | $415.85 | $74,204.08 |
| 180 | $74,204.08 | $240.64 | $0.00 | $419.56 | $74,864.28 |
| 181 | $74,864.28 | $240.64 | $0.00 | $423.29 | $75,528.21 |
| 182 | $75,528.21 | $240.64 | $0.00 | $427.05 | $76,195.90 |
| 183 | $76,195.90 | $240.64 | $0.00 | $430.82 | $76,867.36 |
| 184 | $76,867.36 | $240.64 | $0.00 | $434.62 | $77,542.62 |
| 185 | $77,542.62 | $240.64 | $0.00 | $438.44 | $78,221.70 |
| 186 | $78,221.70 | $240.64 | $0.00 | $442.28 | $78,904.62 |
| 187 | $78,904.62 | $240.64 | $0.00 | $446.14 | $79,591.40 |
| 188 | $79,591.40 | $240.64 | $0.00 | $450.02 | $80,282.06 |
| 189 | $80,282.06 | $240.64 | $0.00 | $453.93 | $80,976.63 |
| 190 | $80,976.63 | $240.64 | $0.00 | $457.85 | $81,675.12 |
| 191 | $81,675.12 | $240.64 | $0.00 | $461.80 | $82,377.56 |
| 192 | $82,377.56 | $240.64 | $0.00 | $465.77 | $83,083.97 |
| 193 | $83,083.97 | $240.64 | $0.00 | $469.77 | $83,794.38 |
| 194 | $83,794.38 | $240.64 | $0.00 | $473.79 | $84,508.81 |
| 195 | $84,508.81 | $240.64 | $0.00 | $477.83 | $85,227.28 |
| 196 | $85,227.28 | $240.64 | $0.00 | $481.89 | $85,949.81 |
| 197 | $85,949.81 | $240.64 | $0.00 | $485.97 | $86,676.42 |
| 198 | $86,676.42 | $240.64 | $0.00 | $490.08 | $87,407.14 |
| 199 | $87,407.14 | $240.64 | $0.00 | $494.21 | $88,141.99 |
| 200 | $88,141.99 | $240.64 | $0.00 | $498.37 | $88,881.00 |
| 201 | $88,881.00 | $240.64 | $0.00 | $502.55 | $89,624.19 |
| 202 | $89,624.19 | $240.64 | $0.00 | $506.75 | $90,371.58 |
| 203 | $90,371.58 | $240.64 | $0.00 | $510.97 | $91,123.19 |
| 204 | $91,123.19 | $240.64 | $0.00 | $515.22 | $91,879.05 |
| 205 | $91,879.05 | $240.64 | $0.00 | $519.50 | $92,639.19 |
| 206 | $92,639.19 | $240.64 | $0.00 | $523.80 | $93,403.63 |
| 207 | $93,403.63 | $240.64 | $0.00 | $528.12 | $94,172.39 |
| 208 | $94,172.39 | $240.64 | $0.00 | $532.46 | $94,945.49 |
| 209 | $94,945.49 | $240.64 | $0.00 | $536.84 | $95,722.97 |
| 210 | $95,722.97 | $240.64 | $0.00 | $541.23 | $96,504.84 |
| 211 | $96,504.84 | $240.64 | $0.00 | $545.65 | $97,291.13 |
| 212 | $97,291.13 | $240.64 | $0.00 | $550.10 | $98,081.87 |
| 213 | $98,081.87 | $240.64 | $0.00 | $554.57 | $98,877.08 |
| 214 | $98,877.08 | $240.64 | $0.00 | $559.07 | $99,676.79 |
| 215 | $99,676.79 | $240.64 | $0.00 | $563.59 | $100,481.02 |
| 216 | $100,481.02 | $240.64 | $0.00 | $568.13 | $101,289.79 |
| 217 | $101,289.79 | $240.64 | $52,825.29 | $572.71 | $49,277.85 |
| 218 | $49,277.85 | $240.64 | $0.00 | $278.62 | $49,797.11 |
| 219 | $49,797.11 | $240.64 | $0.00 | $281.56 | $50,319.31 |
| 220 | $50,319.31 | $240.64 | $0.00 | $284.51 | $50,844.46 |
| 221 | $50,844.46 | $240.64 | $0.00 | $287.48 | $51,372.58 |
| 222 | $51,372.58 | $240.64 | $0.00 | $290.47 | $51,903.69 |
| 223 | $51,903.69 | $240.64 | $0.00 | $293.47 | $52,437.80 |
| 224 | $52,437.80 | $240.64 | $0.00 | $296.49 | $52,974.93 |
| 225 | $52,974.93 | $240.64 | $0.00 | $299.53 | $53,515.10 |
| 226 | $53,515.10 | $240.64 | $0.00 | $302.58 | $54,058.32 |
| 227 | $54,058.32 | $240.64 | $0.00 | $305.65 | $54,604.61 |
| 228 | $54,604.61 | $240.64 | $0.00 | $308.74 | $55,153.99 |
| 229 | $55,153.99 | $0.00 | $55,466.56 | $311.85 | ($0.72) |