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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$49,733
Monthly savings required$394

How much will it cost to send your child to Wayne State College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $198,930.13 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $393.67 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$19,178.00
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 $393.67 $0.00 $0.00 $393.67
2 $393.67 $393.67 $0.00 $2.23 $789.57
3 $789.57 $393.67 $0.00 $4.46 $1,187.70
4 $1,187.70 $393.67 $0.00 $6.72 $1,588.09
5 $1,588.09 $393.67 $0.00 $8.98 $1,990.74
6 $1,990.74 $393.67 $0.00 $11.26 $2,395.67
7 $2,395.67 $393.67 $0.00 $13.55 $2,802.89
8 $2,802.89 $393.67 $0.00 $15.85 $3,212.41
9 $3,212.41 $393.67 $0.00 $18.16 $3,624.24
10 $3,624.24 $393.67 $0.00 $20.49 $4,038.40
11 $4,038.40 $393.67 $0.00 $22.83 $4,454.90
12 $4,454.90 $393.67 $0.00 $25.19 $4,873.76
13 $4,873.76 $393.67 $0.00 $27.56 $5,294.99
14 $5,294.99 $393.67 $0.00 $29.94 $5,718.60
15 $5,718.60 $393.67 $0.00 $32.33 $6,144.60
16 $6,144.60 $393.67 $0.00 $34.74 $6,573.01
17 $6,573.01 $393.67 $0.00 $37.16 $7,003.84
18 $7,003.84 $393.67 $0.00 $39.60 $7,437.11
19 $7,437.11 $393.67 $0.00 $42.05 $7,872.83
20 $7,872.83 $393.67 $0.00 $44.51 $8,311.01
21 $8,311.01 $393.67 $0.00 $46.99 $8,751.67
22 $8,751.67 $393.67 $0.00 $49.48 $9,194.82
23 $9,194.82 $393.67 $0.00 $51.99 $9,640.48
24 $9,640.48 $393.67 $0.00 $54.51 $10,088.66
25 $10,088.66 $393.67 $0.00 $57.04 $10,539.37
26 $10,539.37 $393.67 $0.00 $59.59 $10,992.63
27 $10,992.63 $393.67 $0.00 $62.15 $11,448.45
28 $11,448.45 $393.67 $0.00 $64.73 $11,906.85
29 $11,906.85 $393.67 $0.00 $67.32 $12,367.84
30 $12,367.84 $393.67 $0.00 $69.93 $12,831.44
31 $12,831.44 $393.67 $0.00 $72.55 $13,297.66
32 $13,297.66 $393.67 $0.00 $75.19 $13,766.52
33 $13,766.52 $393.67 $0.00 $77.84 $14,238.03
34 $14,238.03 $393.67 $0.00 $80.50 $14,712.20
35 $14,712.20 $393.67 $0.00 $83.18 $15,189.05
36 $15,189.05 $393.67 $0.00 $85.88 $15,668.60
37 $15,668.60 $393.67 $0.00 $88.59 $16,150.86
38 $16,150.86 $393.67 $0.00 $91.32 $16,635.85
39 $16,635.85 $393.67 $0.00 $94.06 $17,123.58
40 $17,123.58 $393.67 $0.00 $96.82 $17,614.07
41 $17,614.07 $393.67 $0.00 $99.59 $18,107.33
42 $18,107.33 $393.67 $0.00 $102.38 $18,603.38
43 $18,603.38 $393.67 $0.00 $105.19 $19,102.24
44 $19,102.24 $393.67 $0.00 $108.01 $19,603.92
45 $19,603.92 $393.67 $0.00 $110.84 $20,108.43
46 $20,108.43 $393.67 $0.00 $113.70 $20,615.80
47 $20,615.80 $393.67 $0.00 $116.56 $21,126.03
48 $21,126.03 $393.67 $0.00 $119.45 $21,639.15
49 $21,639.15 $393.67 $0.00 $122.35 $22,155.17
50 $22,155.17 $393.67 $0.00 $125.27 $22,674.11
51 $22,674.11 $393.67 $0.00 $128.20 $23,195.98
52 $23,195.98 $393.67 $0.00 $131.15 $23,720.80
53 $23,720.80 $393.67 $0.00 $134.12 $24,248.59
54 $24,248.59 $393.67 $0.00 $137.11 $24,779.37
55 $24,779.37 $393.67 $0.00 $140.11 $25,313.15
56 $25,313.15 $393.67 $0.00 $143.12 $25,849.94
57 $25,849.94 $393.67 $0.00 $146.16 $26,389.77
58 $26,389.77 $393.67 $0.00 $149.21 $26,932.65
59 $26,932.65 $393.67 $0.00 $152.28 $27,478.60
60 $27,478.60 $393.67 $0.00 $155.37 $28,027.64
61 $28,027.64 $393.67 $0.00 $158.47 $28,579.78
62 $28,579.78 $393.67 $0.00 $161.59 $29,135.04
63 $29,135.04 $393.67 $0.00 $164.73 $29,693.44
64 $29,693.44 $393.67 $0.00 $167.89 $30,255.00
65 $30,255.00 $393.67 $0.00 $171.07 $30,819.74
66 $30,819.74 $393.67 $0.00 $174.26 $31,387.67
67 $31,387.67 $393.67 $0.00 $177.47 $31,958.81
68 $31,958.81 $393.67 $0.00 $180.70 $32,533.18
69 $32,533.18 $393.67 $0.00 $183.95 $33,110.80
70 $33,110.80 $393.67 $0.00 $187.21 $33,691.68
71 $33,691.68 $393.67 $0.00 $190.50 $34,275.85
72 $34,275.85 $393.67 $0.00 $193.80 $34,863.32
73 $34,863.32 $393.67 $0.00 $197.12 $35,454.11
74 $35,454.11 $393.67 $0.00 $200.46 $36,048.24
75 $36,048.24 $393.67 $0.00 $203.82 $36,645.73
76 $36,645.73 $393.67 $0.00 $207.20 $37,246.60
77 $37,246.60 $393.67 $0.00 $210.60 $37,850.87
78 $37,850.87 $393.67 $0.00 $214.01 $38,458.55
79 $38,458.55 $393.67 $0.00 $217.45 $39,069.67
80 $39,069.67 $393.67 $0.00 $220.91 $39,684.25
81 $39,684.25 $393.67 $0.00 $224.38 $40,302.30
82 $40,302.30 $393.67 $0.00 $227.88 $40,923.85
83 $40,923.85 $393.67 $0.00 $231.39 $41,548.91
84 $41,548.91 $393.67 $0.00 $234.92 $42,177.50
85 $42,177.50 $393.67 $0.00 $238.48 $42,809.65
86 $42,809.65 $393.67 $0.00 $242.05 $43,445.37
87 $43,445.37 $393.67 $0.00 $245.65 $44,084.69
88 $44,084.69 $393.67 $0.00 $249.26 $44,727.62
89 $44,727.62 $393.67 $0.00 $252.90 $45,374.19
90 $45,374.19 $393.67 $0.00 $256.55 $46,024.41
91 $46,024.41 $393.67 $0.00 $260.23 $46,678.31
92 $46,678.31 $393.67 $0.00 $263.93 $47,335.91
93 $47,335.91 $393.67 $0.00 $267.64 $47,997.22
94 $47,997.22 $393.67 $0.00 $271.38 $48,662.27
95 $48,662.27 $393.67 $0.00 $275.14 $49,331.08
96 $49,331.08 $393.67 $0.00 $278.93 $50,003.68
97 $50,003.68 $393.67 $0.00 $282.73 $50,680.08
98 $50,680.08 $393.67 $0.00 $286.55 $51,360.30
99 $51,360.30 $393.67 $0.00 $290.40 $52,044.37
100 $52,044.37 $393.67 $0.00 $294.27 $52,732.31
101 $52,732.31 $393.67 $0.00 $298.16 $53,424.14
102 $53,424.14 $393.67 $0.00 $302.07 $54,119.88
103 $54,119.88 $393.67 $0.00 $306.00 $54,819.55
104 $54,819.55 $393.67 $0.00 $309.96 $55,523.18
105 $55,523.18 $393.67 $0.00 $313.94 $56,230.79
106 $56,230.79 $393.67 $0.00 $317.94 $56,942.40
107 $56,942.40 $393.67 $0.00 $321.96 $57,658.03
108 $57,658.03 $393.67 $0.00 $326.01 $58,377.71
109 $58,377.71 $393.67 $0.00 $330.08 $59,101.46
110 $59,101.46 $393.67 $0.00 $334.17 $59,829.30
111 $59,829.30 $393.67 $0.00 $338.28 $60,561.25
112 $60,561.25 $393.67 $0.00 $342.42 $61,297.34
113 $61,297.34 $393.67 $0.00 $346.58 $62,037.59
114 $62,037.59 $393.67 $0.00 $350.77 $62,782.03
115 $62,782.03 $393.67 $0.00 $354.98 $63,530.68
116 $63,530.68 $393.67 $0.00 $359.21 $64,283.56
117 $64,283.56 $393.67 $0.00 $363.47 $65,040.70
118 $65,040.70 $393.67 $0.00 $367.75 $65,802.12
119 $65,802.12 $393.67 $0.00 $372.05 $66,567.84
120 $66,567.84 $393.67 $0.00 $376.38 $67,337.89
121 $67,337.89 $393.67 $0.00 $380.74 $68,112.30
122 $68,112.30 $393.67 $0.00 $385.12 $68,891.09
123 $68,891.09 $393.67 $0.00 $389.52 $69,674.28
124 $69,674.28 $393.67 $0.00 $393.95 $70,461.90
125 $70,461.90 $393.67 $0.00 $398.40 $71,253.97
126 $71,253.97 $393.67 $0.00 $402.88 $72,050.52
127 $72,050.52 $393.67 $0.00 $407.38 $72,851.57
128 $72,851.57 $393.67 $0.00 $411.91 $73,657.15
129 $73,657.15 $393.67 $0.00 $416.47 $74,467.29
130 $74,467.29 $393.67 $0.00 $421.05 $75,282.01
131 $75,282.01 $393.67 $0.00 $425.66 $76,101.34
132 $76,101.34 $393.67 $0.00 $430.29 $76,925.30
133 $76,925.30 $393.67 $0.00 $434.95 $77,753.92
134 $77,753.92 $393.67 $0.00 $439.63 $78,587.22
135 $78,587.22 $393.67 $0.00 $444.34 $79,425.23
136 $79,425.23 $393.67 $0.00 $449.08 $80,267.98
137 $80,267.98 $393.67 $0.00 $453.85 $81,115.50
138 $81,115.50 $393.67 $0.00 $458.64 $81,967.81
139 $81,967.81 $393.67 $0.00 $463.46 $82,824.94
140 $82,824.94 $393.67 $0.00 $468.30 $83,686.91
141 $83,686.91 $393.67 $0.00 $473.18 $84,553.76
142 $84,553.76 $393.67 $0.00 $478.08 $85,425.51
143 $85,425.51 $393.67 $0.00 $483.01 $86,302.19
144 $86,302.19 $393.67 $0.00 $487.97 $87,183.83
145 $87,183.83 $393.67 $0.00 $492.95 $88,070.45
146 $88,070.45 $393.67 $0.00 $497.96 $88,962.08
147 $88,962.08 $393.67 $0.00 $503.00 $89,858.75
148 $89,858.75 $393.67 $0.00 $508.07 $90,760.49
149 $90,760.49 $393.67 $0.00 $513.17 $91,667.33
150 $91,667.33 $393.67 $0.00 $518.30 $92,579.30
151 $92,579.30 $393.67 $0.00 $523.46 $93,496.43
152 $93,496.43 $393.67 $0.00 $528.64 $94,418.74
153 $94,418.74 $393.67 $0.00 $533.86 $95,346.27
154 $95,346.27 $393.67 $0.00 $539.10 $96,279.04
155 $96,279.04 $393.67 $0.00 $544.38 $97,217.09
156 $97,217.09 $393.67 $0.00 $549.68 $98,160.44
157 $98,160.44 $393.67 $0.00 $555.01 $99,109.12
158 $99,109.12 $393.67 $0.00 $560.38 $100,063.17
159 $100,063.17 $393.67 $0.00 $565.77 $101,022.61
160 $101,022.61 $393.67 $0.00 $571.20 $101,987.48
161 $101,987.48 $393.67 $0.00 $576.65 $102,957.80
162 $102,957.80 $393.67 $0.00 $582.14 $103,933.61
163 $103,933.61 $393.67 $0.00 $587.66 $104,914.94
164 $104,914.94 $393.67 $0.00 $593.20 $105,901.81
165 $105,901.81 $393.67 $0.00 $598.78 $106,894.26
166 $106,894.26 $393.67 $0.00 $604.40 $107,892.33
167 $107,892.33 $393.67 $0.00 $610.04 $108,896.04
168 $108,896.04 $393.67 $0.00 $615.71 $109,905.42
169 $109,905.42 $393.67 $0.00 $621.42 $110,920.51
170 $110,920.51 $393.67 $0.00 $627.16 $111,941.34
171 $111,941.34 $393.67 $0.00 $632.93 $112,967.94
172 $112,967.94 $393.67 $0.00 $638.74 $114,000.35
173 $114,000.35 $393.67 $0.00 $644.57 $115,038.59
174 $115,038.59 $393.67 $0.00 $650.44 $116,082.70
175 $116,082.70 $393.67 $0.00 $656.35 $117,132.72
176 $117,132.72 $393.67 $0.00 $662.29 $118,188.68
177 $118,188.68 $393.67 $0.00 $668.26 $119,250.61
178 $119,250.61 $393.67 $0.00 $674.26 $120,318.54
179 $120,318.54 $393.67 $0.00 $680.30 $121,392.51
180 $121,392.51 $393.67 $0.00 $686.37 $122,472.55
181 $122,472.55 $393.67 $0.00 $692.48 $123,558.70
182 $123,558.70 $393.67 $0.00 $698.62 $124,650.99
183 $124,650.99 $393.67 $0.00 $704.79 $125,749.45
184 $125,749.45 $393.67 $0.00 $711.01 $126,854.13
185 $126,854.13 $393.67 $0.00 $717.25 $127,965.05
186 $127,965.05 $393.67 $0.00 $723.53 $129,082.25
187 $129,082.25 $393.67 $0.00 $729.85 $130,205.77
188 $130,205.77 $393.67 $0.00 $736.20 $131,335.64
189 $131,335.64 $393.67 $0.00 $742.59 $132,471.90
190 $132,471.90 $393.67 $0.00 $749.02 $133,614.59
191 $133,614.59 $393.67 $0.00 $755.48 $134,763.74
192 $134,763.74 $393.67 $0.00 $761.97 $135,919.38
193 $135,919.38 $393.67 $0.00 $768.51 $137,081.56
194 $137,081.56 $393.67 $0.00 $775.08 $138,250.31
195 $138,250.31 $393.67 $0.00 $781.69 $139,425.67
196 $139,425.67 $393.67 $0.00 $788.33 $140,607.67
197 $140,607.67 $393.67 $0.00 $795.02 $141,796.36
198 $141,796.36 $393.67 $0.00 $801.74 $142,991.77
199 $142,991.77 $393.67 $0.00 $808.50 $144,193.94
200 $144,193.94 $393.67 $0.00 $815.29 $145,402.90
201 $145,402.90 $393.67 $0.00 $822.13 $146,618.70
202 $146,618.70 $393.67 $0.00 $829.00 $147,841.37
203 $147,841.37 $393.67 $0.00 $835.92 $149,070.96
204 $149,070.96 $393.67 $0.00 $842.87 $150,307.50
205 $150,307.50 $393.67 $0.00 $849.86 $151,551.03
206 $151,551.03 $393.67 $0.00 $856.89 $152,801.59
207 $152,801.59 $393.67 $0.00 $863.96 $154,059.22
208 $154,059.22 $393.67 $0.00 $871.07 $155,323.96
209 $155,323.96 $393.67 $0.00 $878.22 $156,595.85
210 $156,595.85 $393.67 $0.00 $885.42 $157,874.94
211 $157,874.94 $393.67 $0.00 $892.65 $159,161.26
212 $159,161.26 $393.67 $0.00 $899.92 $160,454.85
213 $160,454.85 $393.67 $0.00 $907.24 $161,755.76
214 $161,755.76 $393.67 $0.00 $914.59 $163,064.02
215 $163,064.02 $393.67 $0.00 $921.99 $164,379.68
216 $164,379.68 $393.67 $0.00 $929.43 $165,702.78
217 $165,702.78 $393.67 $46,154.14 $936.91 $120,879.22
218 $120,879.22 $393.67 $0.00 $683.47 $121,956.36
219 $121,956.36 $393.67 $0.00 $689.56 $123,039.59
220 $123,039.59 $393.67 $0.00 $695.68 $124,128.94
221 $124,128.94 $393.67 $0.00 $701.84 $125,224.45
222 $125,224.45 $393.67 $0.00 $708.04 $126,326.16
223 $126,326.16 $393.67 $0.00 $714.27 $127,434.10
224 $127,434.10 $393.67 $0.00 $720.53 $128,548.30
225 $128,548.30 $393.67 $0.00 $726.83 $129,668.80
226 $129,668.80 $393.67 $0.00 $733.17 $130,795.64
227 $130,795.64 $393.67 $0.00 $739.54 $131,928.85
228 $131,928.85 $393.67 $0.00 $745.94 $133,068.46
229 $133,068.46 $393.67 $48,461.85 $752.39 $85,752.67
230 $85,752.67 $393.67 $0.00 $484.86 $86,631.20
231 $86,631.20 $393.67 $0.00 $489.83 $87,514.70
232 $87,514.70 $393.67 $0.00 $494.82 $88,403.19
233 $88,403.19 $393.67 $0.00 $499.84 $89,296.70
234 $89,296.70 $393.67 $0.00 $504.90 $90,195.27
235 $90,195.27 $393.67 $0.00 $509.98 $91,098.92
236 $91,098.92 $393.67 $0.00 $515.09 $92,007.68
237 $92,007.68 $393.67 $0.00 $520.22 $92,921.57
238 $92,921.57 $393.67 $0.00 $525.39 $93,840.63
239 $93,840.63 $393.67 $0.00 $530.59 $94,764.89
240 $94,764.89 $393.67 $0.00 $535.81 $95,694.37
241 $95,694.37 $393.67 $50,884.94 $541.07 $45,744.17
242 $45,744.17 $393.67 $0.00 $258.64 $46,396.48
243 $46,396.48 $393.67 $0.00 $262.33 $47,052.48
244 $47,052.48 $393.67 $0.00 $266.04 $47,712.19
245 $47,712.19 $393.67 $0.00 $269.77 $48,375.63
246 $48,375.63 $393.67 $0.00 $273.52 $49,042.82
247 $49,042.82 $393.67 $0.00 $277.30 $49,713.79
248 $49,713.79 $393.67 $0.00 $281.09 $50,388.55
249 $50,388.55 $393.67 $0.00 $284.90 $51,067.12
250 $51,067.12 $393.67 $0.00 $288.74 $51,749.53
251 $51,749.53 $393.67 $0.00 $292.60 $52,435.80
252 $52,435.80 $393.67 $0.00 $296.48 $53,125.95
253 $53,125.95 $0.00 $53,429.19 $300.38 ($2.86)