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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$128,177
Monthly savings required$1,015

How much will it cost to send your child to Lawrence Technological University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $512,708.23 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,014.63 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$49,428.00
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 $1,014.63 $0.00 $0.00 $1,014.63
2 $1,014.63 $1,014.63 $0.00 $5.74 $2,035.00
3 $2,035.00 $1,014.63 $0.00 $11.51 $3,061.14
4 $3,061.14 $1,014.63 $0.00 $17.31 $4,093.08
5 $4,093.08 $1,014.63 $0.00 $23.14 $5,130.85
6 $5,130.85 $1,014.63 $0.00 $29.01 $6,174.49
7 $6,174.49 $1,014.63 $0.00 $34.91 $7,224.03
8 $7,224.03 $1,014.63 $0.00 $40.85 $8,279.51
9 $8,279.51 $1,014.63 $0.00 $46.81 $9,340.95
10 $9,340.95 $1,014.63 $0.00 $52.82 $10,408.40
11 $10,408.40 $1,014.63 $0.00 $58.85 $11,481.88
12 $11,481.88 $1,014.63 $0.00 $64.92 $12,561.43
13 $12,561.43 $1,014.63 $0.00 $71.02 $13,647.08
14 $13,647.08 $1,014.63 $0.00 $77.16 $14,738.87
15 $14,738.87 $1,014.63 $0.00 $83.34 $15,836.84
16 $15,836.84 $1,014.63 $0.00 $89.54 $16,941.01
17 $16,941.01 $1,014.63 $0.00 $95.79 $18,051.43
18 $18,051.43 $1,014.63 $0.00 $102.07 $19,168.13
19 $19,168.13 $1,014.63 $0.00 $108.38 $20,291.14
20 $20,291.14 $1,014.63 $0.00 $114.73 $21,420.50
21 $21,420.50 $1,014.63 $0.00 $121.11 $22,556.24
22 $22,556.24 $1,014.63 $0.00 $127.54 $23,698.41
23 $23,698.41 $1,014.63 $0.00 $133.99 $24,847.03
24 $24,847.03 $1,014.63 $0.00 $140.49 $26,002.15
25 $26,002.15 $1,014.63 $0.00 $147.02 $27,163.80
26 $27,163.80 $1,014.63 $0.00 $153.59 $28,332.02
27 $28,332.02 $1,014.63 $0.00 $160.19 $29,506.84
28 $29,506.84 $1,014.63 $0.00 $166.84 $30,688.31
29 $30,688.31 $1,014.63 $0.00 $173.52 $31,876.46
30 $31,876.46 $1,014.63 $0.00 $180.23 $33,071.32
31 $33,071.32 $1,014.63 $0.00 $186.99 $34,272.94
32 $34,272.94 $1,014.63 $0.00 $193.78 $35,481.35
33 $35,481.35 $1,014.63 $0.00 $200.62 $36,696.60
34 $36,696.60 $1,014.63 $0.00 $207.49 $37,918.72
35 $37,918.72 $1,014.63 $0.00 $214.40 $39,147.75
36 $39,147.75 $1,014.63 $0.00 $221.35 $40,383.73
37 $40,383.73 $1,014.63 $0.00 $228.34 $41,626.70
38 $41,626.70 $1,014.63 $0.00 $235.36 $42,876.69
39 $42,876.69 $1,014.63 $0.00 $242.43 $44,133.75
40 $44,133.75 $1,014.63 $0.00 $249.54 $45,397.92
41 $45,397.92 $1,014.63 $0.00 $256.69 $46,669.24
42 $46,669.24 $1,014.63 $0.00 $263.87 $47,947.74
43 $47,947.74 $1,014.63 $0.00 $271.10 $49,233.47
44 $49,233.47 $1,014.63 $0.00 $278.37 $50,526.47
45 $50,526.47 $1,014.63 $0.00 $285.68 $51,826.78
46 $51,826.78 $1,014.63 $0.00 $293.04 $53,134.45
47 $53,134.45 $1,014.63 $0.00 $300.43 $54,449.51
48 $54,449.51 $1,014.63 $0.00 $307.87 $55,772.01
49 $55,772.01 $1,014.63 $0.00 $315.34 $57,101.98
50 $57,101.98 $1,014.63 $0.00 $322.86 $58,439.47
51 $58,439.47 $1,014.63 $0.00 $330.43 $59,784.53
52 $59,784.53 $1,014.63 $0.00 $338.03 $61,137.19
53 $61,137.19 $1,014.63 $0.00 $345.68 $62,497.50
54 $62,497.50 $1,014.63 $0.00 $353.37 $63,865.50
55 $63,865.50 $1,014.63 $0.00 $361.10 $65,241.23
56 $65,241.23 $1,014.63 $0.00 $368.88 $66,624.74
57 $66,624.74 $1,014.63 $0.00 $376.71 $68,016.08
58 $68,016.08 $1,014.63 $0.00 $384.57 $69,415.28
59 $69,415.28 $1,014.63 $0.00 $392.48 $70,822.39
60 $70,822.39 $1,014.63 $0.00 $400.44 $72,237.46
61 $72,237.46 $1,014.63 $0.00 $408.44 $73,660.53
62 $73,660.53 $1,014.63 $0.00 $416.49 $75,091.65
63 $75,091.65 $1,014.63 $0.00 $424.58 $76,530.86
64 $76,530.86 $1,014.63 $0.00 $432.72 $77,978.21
65 $77,978.21 $1,014.63 $0.00 $440.90 $79,433.74
66 $79,433.74 $1,014.63 $0.00 $449.13 $80,897.50
67 $80,897.50 $1,014.63 $0.00 $457.41 $82,369.54
68 $82,369.54 $1,014.63 $0.00 $465.73 $83,849.90
69 $83,849.90 $1,014.63 $0.00 $474.10 $85,338.63
70 $85,338.63 $1,014.63 $0.00 $482.52 $86,835.78
71 $86,835.78 $1,014.63 $0.00 $490.98 $88,341.39
72 $88,341.39 $1,014.63 $0.00 $499.50 $89,855.52
73 $89,855.52 $1,014.63 $0.00 $508.06 $91,378.21
74 $91,378.21 $1,014.63 $0.00 $516.67 $92,909.51
75 $92,909.51 $1,014.63 $0.00 $525.32 $94,449.46
76 $94,449.46 $1,014.63 $0.00 $534.03 $95,998.12
77 $95,998.12 $1,014.63 $0.00 $542.79 $97,555.54
78 $97,555.54 $1,014.63 $0.00 $551.59 $99,121.76
79 $99,121.76 $1,014.63 $0.00 $560.45 $100,696.84
80 $100,696.84 $1,014.63 $0.00 $569.35 $102,280.82
81 $102,280.82 $1,014.63 $0.00 $578.31 $103,873.76
82 $103,873.76 $1,014.63 $0.00 $587.32 $105,475.71
83 $105,475.71 $1,014.63 $0.00 $596.37 $107,086.71
84 $107,086.71 $1,014.63 $0.00 $605.48 $108,706.82
85 $108,706.82 $1,014.63 $0.00 $614.64 $110,336.09
86 $110,336.09 $1,014.63 $0.00 $623.86 $111,974.58
87 $111,974.58 $1,014.63 $0.00 $633.12 $113,622.33
88 $113,622.33 $1,014.63 $0.00 $642.44 $115,279.40
89 $115,279.40 $1,014.63 $0.00 $651.81 $116,945.84
90 $116,945.84 $1,014.63 $0.00 $661.23 $118,621.70
91 $118,621.70 $1,014.63 $0.00 $670.70 $120,307.03
92 $120,307.03 $1,014.63 $0.00 $680.23 $122,001.89
93 $122,001.89 $1,014.63 $0.00 $689.82 $123,706.34
94 $123,706.34 $1,014.63 $0.00 $699.45 $125,420.42
95 $125,420.42 $1,014.63 $0.00 $709.15 $127,144.20
96 $127,144.20 $1,014.63 $0.00 $718.89 $128,877.72
97 $128,877.72 $1,014.63 $0.00 $728.69 $130,621.04
98 $130,621.04 $1,014.63 $0.00 $738.55 $132,374.22
99 $132,374.22 $1,014.63 $0.00 $748.46 $134,137.31
100 $134,137.31 $1,014.63 $0.00 $758.43 $135,910.37
101 $135,910.37 $1,014.63 $0.00 $768.46 $137,693.46
102 $137,693.46 $1,014.63 $0.00 $778.54 $139,486.63
103 $139,486.63 $1,014.63 $0.00 $788.68 $141,289.94
104 $141,289.94 $1,014.63 $0.00 $798.87 $143,103.44
105 $143,103.44 $1,014.63 $0.00 $809.13 $144,927.20
106 $144,927.20 $1,014.63 $0.00 $819.44 $146,761.27
107 $146,761.27 $1,014.63 $0.00 $829.81 $148,605.71
108 $148,605.71 $1,014.63 $0.00 $840.24 $150,460.58
109 $150,460.58 $1,014.63 $0.00 $850.73 $152,325.94
110 $152,325.94 $1,014.63 $0.00 $861.27 $154,201.84
111 $154,201.84 $1,014.63 $0.00 $871.88 $156,088.35
112 $156,088.35 $1,014.63 $0.00 $882.55 $157,985.53
113 $157,985.53 $1,014.63 $0.00 $893.27 $159,893.43
114 $159,893.43 $1,014.63 $0.00 $904.06 $161,812.12
115 $161,812.12 $1,014.63 $0.00 $914.91 $163,741.66
116 $163,741.66 $1,014.63 $0.00 $925.82 $165,682.11
117 $165,682.11 $1,014.63 $0.00 $936.79 $167,633.53
118 $167,633.53 $1,014.63 $0.00 $947.82 $169,595.98
119 $169,595.98 $1,014.63 $0.00 $958.92 $171,569.53
120 $171,569.53 $1,014.63 $0.00 $970.08 $173,554.24
121 $173,554.24 $1,014.63 $0.00 $981.30 $175,550.17
122 $175,550.17 $1,014.63 $0.00 $992.59 $177,557.39
123 $177,557.39 $1,014.63 $0.00 $1,003.94 $179,575.96
124 $179,575.96 $1,014.63 $0.00 $1,015.35 $181,605.94
125 $181,605.94 $1,014.63 $0.00 $1,026.83 $183,647.40
126 $183,647.40 $1,014.63 $0.00 $1,038.37 $185,700.40
127 $185,700.40 $1,014.63 $0.00 $1,049.98 $187,765.01
128 $187,765.01 $1,014.63 $0.00 $1,061.65 $189,841.29
129 $189,841.29 $1,014.63 $0.00 $1,073.39 $191,929.31
130 $191,929.31 $1,014.63 $0.00 $1,085.20 $194,029.14
131 $194,029.14 $1,014.63 $0.00 $1,097.07 $196,140.84
132 $196,140.84 $1,014.63 $0.00 $1,109.01 $198,264.48
133 $198,264.48 $1,014.63 $0.00 $1,121.02 $200,400.13
134 $200,400.13 $1,014.63 $0.00 $1,133.09 $202,547.85
135 $202,547.85 $1,014.63 $0.00 $1,145.23 $204,707.71
136 $204,707.71 $1,014.63 $0.00 $1,157.45 $206,879.79
137 $206,879.79 $1,014.63 $0.00 $1,169.73 $209,064.15
138 $209,064.15 $1,014.63 $0.00 $1,182.08 $211,260.86
139 $211,260.86 $1,014.63 $0.00 $1,194.50 $213,469.99
140 $213,469.99 $1,014.63 $0.00 $1,206.99 $215,691.61
141 $215,691.61 $1,014.63 $0.00 $1,219.55 $217,925.79
142 $217,925.79 $1,014.63 $0.00 $1,232.18 $220,172.60
143 $220,172.60 $1,014.63 $0.00 $1,244.89 $222,432.12
144 $222,432.12 $1,014.63 $0.00 $1,257.66 $224,704.41
145 $224,704.41 $1,014.63 $0.00 $1,270.51 $226,989.55
146 $226,989.55 $1,014.63 $0.00 $1,283.43 $229,287.61
147 $229,287.61 $1,014.63 $0.00 $1,296.43 $231,598.67
148 $231,598.67 $1,014.63 $0.00 $1,309.49 $233,922.79
149 $233,922.79 $1,014.63 $0.00 $1,322.63 $236,260.05
150 $236,260.05 $1,014.63 $0.00 $1,335.85 $238,610.53
151 $238,610.53 $1,014.63 $0.00 $1,349.14 $240,974.30
152 $240,974.30 $1,014.63 $0.00 $1,362.50 $243,351.43
153 $243,351.43 $1,014.63 $0.00 $1,375.94 $245,742.00
154 $245,742.00 $1,014.63 $0.00 $1,389.46 $248,146.09
155 $248,146.09 $1,014.63 $0.00 $1,403.05 $250,563.77
156 $250,563.77 $1,014.63 $0.00 $1,416.72 $252,995.12
157 $252,995.12 $1,014.63 $0.00 $1,430.47 $255,440.22
158 $255,440.22 $1,014.63 $0.00 $1,444.30 $257,899.15
159 $257,899.15 $1,014.63 $0.00 $1,458.20 $260,371.98
160 $260,371.98 $1,014.63 $0.00 $1,472.18 $262,858.79
161 $262,858.79 $1,014.63 $0.00 $1,486.24 $265,359.66
162 $265,359.66 $1,014.63 $0.00 $1,500.38 $267,874.67
163 $267,874.67 $1,014.63 $0.00 $1,514.60 $270,403.90
164 $270,403.90 $1,014.63 $0.00 $1,528.90 $272,947.43
165 $272,947.43 $1,014.63 $0.00 $1,543.28 $275,505.34
166 $275,505.34 $1,014.63 $0.00 $1,557.75 $278,077.72
167 $278,077.72 $1,014.63 $0.00 $1,572.29 $280,664.64
168 $280,664.64 $1,014.63 $0.00 $1,586.92 $283,266.19
169 $283,266.19 $1,014.63 $0.00 $1,601.63 $285,882.45
170 $285,882.45 $1,014.63 $0.00 $1,616.42 $288,513.50
171 $288,513.50 $1,014.63 $0.00 $1,631.30 $291,159.43
172 $291,159.43 $1,014.63 $0.00 $1,646.26 $293,820.32
173 $293,820.32 $1,014.63 $0.00 $1,661.30 $296,496.25
174 $296,496.25 $1,014.63 $0.00 $1,676.43 $299,187.31
175 $299,187.31 $1,014.63 $0.00 $1,691.65 $301,893.59
176 $301,893.59 $1,014.63 $0.00 $1,706.95 $304,615.17
177 $304,615.17 $1,014.63 $0.00 $1,722.34 $307,352.14
178 $307,352.14 $1,014.63 $0.00 $1,737.81 $310,104.58
179 $310,104.58 $1,014.63 $0.00 $1,753.38 $312,872.59
180 $312,872.59 $1,014.63 $0.00 $1,769.03 $315,656.25
181 $315,656.25 $1,014.63 $0.00 $1,784.77 $318,455.65
182 $318,455.65 $1,014.63 $0.00 $1,800.59 $321,270.87
183 $321,270.87 $1,014.63 $0.00 $1,816.51 $324,102.01
184 $324,102.01 $1,014.63 $0.00 $1,832.52 $326,949.16
185 $326,949.16 $1,014.63 $0.00 $1,848.62 $329,812.41
186 $329,812.41 $1,014.63 $0.00 $1,864.81 $332,691.85
187 $332,691.85 $1,014.63 $0.00 $1,881.09 $335,587.57
188 $335,587.57 $1,014.63 $0.00 $1,897.46 $338,499.66
189 $338,499.66 $1,014.63 $0.00 $1,913.93 $341,428.22
190 $341,428.22 $1,014.63 $0.00 $1,930.48 $344,373.33
191 $344,373.33 $1,014.63 $0.00 $1,947.14 $347,335.10
192 $347,335.10 $1,014.63 $0.00 $1,963.88 $350,313.61
193 $350,313.61 $1,014.63 $0.00 $1,980.72 $353,308.96
194 $353,308.96 $1,014.63 $0.00 $1,997.66 $356,321.25
195 $356,321.25 $1,014.63 $0.00 $2,014.69 $359,350.57
196 $359,350.57 $1,014.63 $0.00 $2,031.82 $362,397.02
197 $362,397.02 $1,014.63 $0.00 $2,049.05 $365,460.70
198 $365,460.70 $1,014.63 $0.00 $2,066.37 $368,541.70
199 $368,541.70 $1,014.63 $0.00 $2,083.79 $371,640.12
200 $371,640.12 $1,014.63 $0.00 $2,101.31 $374,756.06
201 $374,756.06 $1,014.63 $0.00 $2,118.93 $377,889.62
202 $377,889.62 $1,014.63 $0.00 $2,136.64 $381,040.89
203 $381,040.89 $1,014.63 $0.00 $2,154.46 $384,209.98
204 $384,209.98 $1,014.63 $0.00 $2,172.38 $387,396.99
205 $387,396.99 $1,014.63 $0.00 $2,190.40 $390,602.02
206 $390,602.02 $1,014.63 $0.00 $2,208.52 $393,825.17
207 $393,825.17 $1,014.63 $0.00 $2,226.74 $397,066.54
208 $397,066.54 $1,014.63 $0.00 $2,245.07 $400,326.24
209 $400,326.24 $1,014.63 $0.00 $2,263.50 $403,604.37
210 $403,604.37 $1,014.63 $0.00 $2,282.04 $406,901.04
211 $406,901.04 $1,014.63 $0.00 $2,300.68 $410,216.35
212 $410,216.35 $1,014.63 $0.00 $2,319.42 $413,550.40
213 $413,550.40 $1,014.63 $0.00 $2,338.27 $416,903.30
214 $416,903.30 $1,014.63 $0.00 $2,357.23 $420,275.16
215 $420,275.16 $1,014.63 $0.00 $2,376.30 $423,666.09
216 $423,666.09 $1,014.63 $0.00 $2,395.47 $427,076.19
217 $427,076.19 $1,014.63 $118,954.38 $2,414.75 $311,551.19
218 $311,551.19 $1,014.63 $0.00 $1,761.56 $314,327.38
219 $314,327.38 $1,014.63 $0.00 $1,777.25 $317,119.26
220 $317,119.26 $1,014.63 $0.00 $1,793.04 $319,926.93
221 $319,926.93 $1,014.63 $0.00 $1,808.91 $322,750.47
222 $322,750.47 $1,014.63 $0.00 $1,824.88 $325,589.98
223 $325,589.98 $1,014.63 $0.00 $1,840.93 $328,445.54
224 $328,445.54 $1,014.63 $0.00 $1,857.08 $331,317.25
225 $331,317.25 $1,014.63 $0.00 $1,873.32 $334,205.20
226 $334,205.20 $1,014.63 $0.00 $1,889.64 $337,109.47
227 $337,109.47 $1,014.63 $0.00 $1,906.07 $340,030.17
228 $340,030.17 $1,014.63 $0.00 $1,922.58 $342,967.38
229 $342,967.38 $1,014.63 $124,902.09 $1,939.19 $221,019.11
230 $221,019.11 $1,014.63 $0.00 $1,249.67 $223,283.41
231 $223,283.41 $1,014.63 $0.00 $1,262.48 $225,560.52
232 $225,560.52 $1,014.63 $0.00 $1,275.35 $227,850.50
233 $227,850.50 $1,014.63 $0.00 $1,288.30 $230,153.43
234 $230,153.43 $1,014.63 $0.00 $1,301.32 $232,469.38
235 $232,469.38 $1,014.63 $0.00 $1,314.42 $234,798.43
236 $234,798.43 $1,014.63 $0.00 $1,327.58 $237,140.64
237 $237,140.64 $1,014.63 $0.00 $1,340.83 $239,496.10
238 $239,496.10 $1,014.63 $0.00 $1,354.15 $241,864.88
239 $241,864.88 $1,014.63 $0.00 $1,367.54 $244,247.05
240 $244,247.05 $1,014.63 $0.00 $1,381.01 $246,642.69
241 $246,642.69 $1,014.63 $131,147.20 $1,394.55 $117,904.67
242 $117,904.67 $1,014.63 $0.00 $666.65 $119,585.95
243 $119,585.95 $1,014.63 $0.00 $676.16 $121,276.74
244 $121,276.74 $1,014.63 $0.00 $685.72 $122,977.09
245 $122,977.09 $1,014.63 $0.00 $695.33 $124,687.05
246 $124,687.05 $1,014.63 $0.00 $705.00 $126,406.68
247 $126,406.68 $1,014.63 $0.00 $714.72 $128,136.03
248 $128,136.03 $1,014.63 $0.00 $724.50 $129,875.16
249 $129,875.16 $1,014.63 $0.00 $734.33 $131,624.12
250 $131,624.12 $1,014.63 $0.00 $744.22 $133,382.97
251 $133,382.97 $1,014.63 $0.00 $754.17 $135,151.77
252 $135,151.77 $1,014.63 $0.00 $764.17 $136,930.57
253 $136,930.57 $0.00 $137,704.56 $774.23 $0.24