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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$27,702
Monthly savings required$123

How much will it cost to send your child to Copiah Lincoln Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $55,403.98 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $123.12 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$11,230.00
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 $123.12 $0.00 $0.00 $123.12
2 $123.12 $123.12 $0.00 $0.70 $246.94
3 $246.94 $123.12 $0.00 $1.40 $371.46
4 $371.46 $123.12 $0.00 $2.10 $496.68
5 $496.68 $123.12 $0.00 $2.81 $622.61
6 $622.61 $123.12 $0.00 $3.52 $749.25
7 $749.25 $123.12 $0.00 $4.24 $876.61
8 $876.61 $123.12 $0.00 $4.96 $1,004.69
9 $1,004.69 $123.12 $0.00 $5.68 $1,133.49
10 $1,133.49 $123.12 $0.00 $6.41 $1,263.02
11 $1,263.02 $123.12 $0.00 $7.14 $1,393.28
12 $1,393.28 $123.12 $0.00 $7.88 $1,524.28
13 $1,524.28 $123.12 $0.00 $8.62 $1,656.02
14 $1,656.02 $123.12 $0.00 $9.36 $1,788.50
15 $1,788.50 $123.12 $0.00 $10.11 $1,921.73
16 $1,921.73 $123.12 $0.00 $10.87 $2,055.72
17 $2,055.72 $123.12 $0.00 $11.62 $2,190.46
18 $2,190.46 $123.12 $0.00 $12.39 $2,325.97
19 $2,325.97 $123.12 $0.00 $13.15 $2,462.24
20 $2,462.24 $123.12 $0.00 $13.92 $2,599.28
21 $2,599.28 $123.12 $0.00 $14.70 $2,737.10
22 $2,737.10 $123.12 $0.00 $15.48 $2,875.70
23 $2,875.70 $123.12 $0.00 $16.26 $3,015.08
24 $3,015.08 $123.12 $0.00 $17.05 $3,155.25
25 $3,155.25 $123.12 $0.00 $17.84 $3,296.21
26 $3,296.21 $123.12 $0.00 $18.64 $3,437.97
27 $3,437.97 $123.12 $0.00 $19.44 $3,580.53
28 $3,580.53 $123.12 $0.00 $20.24 $3,723.89
29 $3,723.89 $123.12 $0.00 $21.06 $3,868.07
30 $3,868.07 $123.12 $0.00 $21.87 $4,013.06
31 $4,013.06 $123.12 $0.00 $22.69 $4,158.87
32 $4,158.87 $123.12 $0.00 $23.51 $4,305.50
33 $4,305.50 $123.12 $0.00 $24.34 $4,452.96
34 $4,452.96 $123.12 $0.00 $25.18 $4,601.26
35 $4,601.26 $123.12 $0.00 $26.02 $4,750.40
36 $4,750.40 $123.12 $0.00 $26.86 $4,900.38
37 $4,900.38 $123.12 $0.00 $27.71 $5,051.21
38 $5,051.21 $123.12 $0.00 $28.56 $5,202.89
39 $5,202.89 $123.12 $0.00 $29.42 $5,355.43
40 $5,355.43 $123.12 $0.00 $30.28 $5,508.83
41 $5,508.83 $123.12 $0.00 $31.15 $5,663.10
42 $5,663.10 $123.12 $0.00 $32.02 $5,818.24
43 $5,818.24 $123.12 $0.00 $32.90 $5,974.26
44 $5,974.26 $123.12 $0.00 $33.78 $6,131.16
45 $6,131.16 $123.12 $0.00 $34.67 $6,288.95
46 $6,288.95 $123.12 $0.00 $35.56 $6,447.63
47 $6,447.63 $123.12 $0.00 $36.46 $6,607.21
48 $6,607.21 $123.12 $0.00 $37.36 $6,767.69
49 $6,767.69 $123.12 $0.00 $38.27 $6,929.08
50 $6,929.08 $123.12 $0.00 $39.18 $7,091.38
51 $7,091.38 $123.12 $0.00 $40.10 $7,254.60
52 $7,254.60 $123.12 $0.00 $41.02 $7,418.74
53 $7,418.74 $123.12 $0.00 $41.95 $7,583.81
54 $7,583.81 $123.12 $0.00 $42.88 $7,749.81
55 $7,749.81 $123.12 $0.00 $43.82 $7,916.75
56 $7,916.75 $123.12 $0.00 $44.76 $8,084.63
57 $8,084.63 $123.12 $0.00 $45.71 $8,253.46
58 $8,253.46 $123.12 $0.00 $46.67 $8,423.25
59 $8,423.25 $123.12 $0.00 $47.63 $8,594.00
60 $8,594.00 $123.12 $0.00 $48.59 $8,765.71
61 $8,765.71 $123.12 $0.00 $49.56 $8,938.39
62 $8,938.39 $123.12 $0.00 $50.54 $9,112.05
63 $9,112.05 $123.12 $0.00 $51.52 $9,286.69
64 $9,286.69 $123.12 $0.00 $52.51 $9,462.32
65 $9,462.32 $123.12 $0.00 $53.50 $9,638.94
66 $9,638.94 $123.12 $0.00 $54.50 $9,816.56
67 $9,816.56 $123.12 $0.00 $55.50 $9,995.18
68 $9,995.18 $123.12 $0.00 $56.51 $10,174.81
69 $10,174.81 $123.12 $0.00 $57.53 $10,355.46
70 $10,355.46 $123.12 $0.00 $58.55 $10,537.13
71 $10,537.13 $123.12 $0.00 $59.58 $10,719.83
72 $10,719.83 $123.12 $0.00 $60.61 $10,903.56
73 $10,903.56 $123.12 $0.00 $61.65 $11,088.33
74 $11,088.33 $123.12 $0.00 $62.70 $11,274.15
75 $11,274.15 $123.12 $0.00 $63.75 $11,461.02
76 $11,461.02 $123.12 $0.00 $64.80 $11,648.94
77 $11,648.94 $123.12 $0.00 $65.86 $11,837.92
78 $11,837.92 $123.12 $0.00 $66.93 $12,027.97
79 $12,027.97 $123.12 $0.00 $68.01 $12,219.10
80 $12,219.10 $123.12 $0.00 $69.09 $12,411.31
81 $12,411.31 $123.12 $0.00 $70.18 $12,604.61
82 $12,604.61 $123.12 $0.00 $71.27 $12,799.00
83 $12,799.00 $123.12 $0.00 $72.37 $12,994.49
84 $12,994.49 $123.12 $0.00 $73.47 $13,191.08
85 $13,191.08 $123.12 $0.00 $74.58 $13,388.78
86 $13,388.78 $123.12 $0.00 $75.70 $13,587.60
87 $13,587.60 $123.12 $0.00 $76.83 $13,787.55
88 $13,787.55 $123.12 $0.00 $77.96 $13,988.63
89 $13,988.63 $123.12 $0.00 $79.09 $14,190.84
90 $14,190.84 $123.12 $0.00 $80.24 $14,394.20
91 $14,394.20 $123.12 $0.00 $81.39 $14,598.71
92 $14,598.71 $123.12 $0.00 $82.54 $14,804.37
93 $14,804.37 $123.12 $0.00 $83.71 $15,011.20
94 $15,011.20 $123.12 $0.00 $84.88 $15,219.20
95 $15,219.20 $123.12 $0.00 $86.05 $15,428.37
96 $15,428.37 $123.12 $0.00 $87.23 $15,638.72
97 $15,638.72 $123.12 $0.00 $88.42 $15,850.26
98 $15,850.26 $123.12 $0.00 $89.62 $16,063.00
99 $16,063.00 $123.12 $0.00 $90.82 $16,276.94
100 $16,276.94 $123.12 $0.00 $92.03 $16,492.09
101 $16,492.09 $123.12 $0.00 $93.25 $16,708.46
102 $16,708.46 $123.12 $0.00 $94.47 $16,926.05
103 $16,926.05 $123.12 $0.00 $95.70 $17,144.87
104 $17,144.87 $123.12 $0.00 $96.94 $17,364.93
105 $17,364.93 $123.12 $0.00 $98.18 $17,586.23
106 $17,586.23 $123.12 $0.00 $99.44 $17,808.79
107 $17,808.79 $123.12 $0.00 $100.69 $18,032.60
108 $18,032.60 $123.12 $0.00 $101.96 $18,257.68
109 $18,257.68 $123.12 $0.00 $103.23 $18,484.03
110 $18,484.03 $123.12 $0.00 $104.51 $18,711.66
111 $18,711.66 $123.12 $0.00 $105.80 $18,940.58
112 $18,940.58 $123.12 $0.00 $107.09 $19,170.79
113 $19,170.79 $123.12 $0.00 $108.39 $19,402.30
114 $19,402.30 $123.12 $0.00 $109.70 $19,635.12
115 $19,635.12 $123.12 $0.00 $111.02 $19,869.26
116 $19,869.26 $123.12 $0.00 $112.34 $20,104.72
117 $20,104.72 $123.12 $0.00 $113.68 $20,341.52
118 $20,341.52 $123.12 $0.00 $115.01 $20,579.65
119 $20,579.65 $123.12 $0.00 $116.36 $20,819.13
120 $20,819.13 $123.12 $0.00 $117.71 $21,059.96
121 $21,059.96 $123.12 $0.00 $119.08 $21,302.16
122 $21,302.16 $123.12 $0.00 $120.45 $21,545.73
123 $21,545.73 $123.12 $0.00 $121.82 $21,790.67
124 $21,790.67 $123.12 $0.00 $123.21 $22,037.00
125 $22,037.00 $123.12 $0.00 $124.60 $22,284.72
126 $22,284.72 $123.12 $0.00 $126.00 $22,533.84
127 $22,533.84 $123.12 $0.00 $127.41 $22,784.37
128 $22,784.37 $123.12 $0.00 $128.83 $23,036.32
129 $23,036.32 $123.12 $0.00 $130.25 $23,289.69
130 $23,289.69 $123.12 $0.00 $131.68 $23,544.49
131 $23,544.49 $123.12 $0.00 $133.12 $23,800.73
132 $23,800.73 $123.12 $0.00 $134.57 $24,058.42
133 $24,058.42 $123.12 $0.00 $136.03 $24,317.57
134 $24,317.57 $123.12 $0.00 $137.50 $24,578.19
135 $24,578.19 $123.12 $0.00 $138.97 $24,840.28
136 $24,840.28 $123.12 $0.00 $140.45 $25,103.85
137 $25,103.85 $123.12 $0.00 $141.94 $25,368.91
138 $25,368.91 $123.12 $0.00 $143.44 $25,635.47
139 $25,635.47 $123.12 $0.00 $144.95 $25,903.54
140 $25,903.54 $123.12 $0.00 $146.46 $26,173.12
141 $26,173.12 $123.12 $0.00 $147.99 $26,444.23
142 $26,444.23 $123.12 $0.00 $149.52 $26,716.87
143 $26,716.87 $123.12 $0.00 $151.06 $26,991.05
144 $26,991.05 $123.12 $0.00 $152.61 $27,266.78
145 $27,266.78 $123.12 $0.00 $154.17 $27,544.07
146 $27,544.07 $123.12 $0.00 $155.74 $27,822.93
147 $27,822.93 $123.12 $0.00 $157.31 $28,103.36
148 $28,103.36 $123.12 $0.00 $158.90 $28,385.38
149 $28,385.38 $123.12 $0.00 $160.50 $28,669.00
150 $28,669.00 $123.12 $0.00 $162.10 $28,954.22
151 $28,954.22 $123.12 $0.00 $163.71 $29,241.05
152 $29,241.05 $123.12 $0.00 $165.33 $29,529.50
153 $29,529.50 $123.12 $0.00 $166.96 $29,819.58
154 $29,819.58 $123.12 $0.00 $168.60 $30,111.30
155 $30,111.30 $123.12 $0.00 $170.25 $30,404.67
156 $30,404.67 $123.12 $0.00 $171.91 $30,699.70
157 $30,699.70 $123.12 $0.00 $173.58 $30,996.40
158 $30,996.40 $123.12 $0.00 $175.26 $31,294.78
159 $31,294.78 $123.12 $0.00 $176.95 $31,594.85
160 $31,594.85 $123.12 $0.00 $178.64 $31,896.61
161 $31,896.61 $123.12 $0.00 $180.35 $32,200.08
162 $32,200.08 $123.12 $0.00 $182.06 $32,505.26
163 $32,505.26 $123.12 $0.00 $183.79 $32,812.17
164 $32,812.17 $123.12 $0.00 $185.52 $33,120.81
165 $33,120.81 $123.12 $0.00 $187.27 $33,431.20
166 $33,431.20 $123.12 $0.00 $189.02 $33,743.34
167 $33,743.34 $123.12 $0.00 $190.79 $34,057.25
168 $34,057.25 $123.12 $0.00 $192.56 $34,372.93
169 $34,372.93 $123.12 $0.00 $194.35 $34,690.40
170 $34,690.40 $123.12 $0.00 $196.14 $35,009.66
171 $35,009.66 $123.12 $0.00 $197.95 $35,330.73
172 $35,330.73 $123.12 $0.00 $199.77 $35,653.62
173 $35,653.62 $123.12 $0.00 $201.59 $35,978.33
174 $35,978.33 $123.12 $0.00 $203.43 $36,304.88
175 $36,304.88 $123.12 $0.00 $205.27 $36,633.27
176 $36,633.27 $123.12 $0.00 $207.13 $36,963.52
177 $36,963.52 $123.12 $0.00 $209.00 $37,295.64
178 $37,295.64 $123.12 $0.00 $210.87 $37,629.63
179 $37,629.63 $123.12 $0.00 $212.76 $37,965.51
180 $37,965.51 $123.12 $0.00 $214.66 $38,303.29
181 $38,303.29 $123.12 $0.00 $216.57 $38,642.98
182 $38,642.98 $123.12 $0.00 $218.49 $38,984.59
183 $38,984.59 $123.12 $0.00 $220.42 $39,328.13
184 $39,328.13 $123.12 $0.00 $222.37 $39,673.62
185 $39,673.62 $123.12 $0.00 $224.32 $40,021.06
186 $40,021.06 $123.12 $0.00 $226.28 $40,370.46
187 $40,370.46 $123.12 $0.00 $228.26 $40,721.84
188 $40,721.84 $123.12 $0.00 $230.25 $41,075.21
189 $41,075.21 $123.12 $0.00 $232.25 $41,430.58
190 $41,430.58 $123.12 $0.00 $234.25 $41,787.95
191 $41,787.95 $123.12 $0.00 $236.28 $42,147.35
192 $42,147.35 $123.12 $0.00 $238.31 $42,508.78
193 $42,508.78 $123.12 $0.00 $240.35 $42,872.25
194 $42,872.25 $123.12 $0.00 $242.41 $43,237.78
195 $43,237.78 $123.12 $0.00 $244.47 $43,605.37
196 $43,605.37 $123.12 $0.00 $246.55 $43,975.04
197 $43,975.04 $123.12 $0.00 $248.64 $44,346.80
198 $44,346.80 $123.12 $0.00 $250.74 $44,720.66
199 $44,720.66 $123.12 $0.00 $252.86 $45,096.64
200 $45,096.64 $123.12 $0.00 $254.98 $45,474.74
201 $45,474.74 $123.12 $0.00 $257.12 $45,854.98
202 $45,854.98 $123.12 $0.00 $259.27 $46,237.37
203 $46,237.37 $123.12 $0.00 $261.43 $46,621.92
204 $46,621.92 $123.12 $0.00 $263.61 $47,008.65
205 $47,008.65 $123.12 $0.00 $265.79 $47,397.56
206 $47,397.56 $123.12 $0.00 $267.99 $47,788.67
207 $47,788.67 $123.12 $0.00 $270.20 $48,181.99
208 $48,181.99 $123.12 $0.00 $272.43 $48,577.54
209 $48,577.54 $123.12 $0.00 $274.66 $48,975.32
210 $48,975.32 $123.12 $0.00 $276.91 $49,375.35
211 $49,375.35 $123.12 $0.00 $279.18 $49,777.65
212 $49,777.65 $123.12 $0.00 $281.45 $50,182.22
213 $50,182.22 $123.12 $0.00 $283.74 $50,589.08
214 $50,589.08 $123.12 $0.00 $286.04 $50,998.24
215 $50,998.24 $123.12 $0.00 $288.35 $51,409.71
216 $51,409.71 $123.12 $0.00 $290.68 $51,823.51
217 $51,823.51 $123.12 $27,026.33 $293.02 $25,213.32
218 $25,213.32 $123.12 $0.00 $142.56 $25,479.00
219 $25,479.00 $123.12 $0.00 $144.06 $25,746.18
220 $25,746.18 $123.12 $0.00 $145.57 $26,014.87
221 $26,014.87 $123.12 $0.00 $147.09 $26,285.08
222 $26,285.08 $123.12 $0.00 $148.62 $26,556.82
223 $26,556.82 $123.12 $0.00 $150.16 $26,830.10
224 $26,830.10 $123.12 $0.00 $151.70 $27,104.92
225 $27,104.92 $123.12 $0.00 $153.26 $27,381.30
226 $27,381.30 $123.12 $0.00 $154.82 $27,659.24
227 $27,659.24 $123.12 $0.00 $156.39 $27,938.75
228 $27,938.75 $123.12 $0.00 $157.97 $28,219.84
229 $28,219.84 $0.00 $28,377.65 $159.56 $1.75