Savings Plan and Future Cost Estimation for Lees McRae College

How much will it cost and what do you need to save?

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$173,102
Monthly savings required$1,368

How much will it cost to send your child to Lees McRae College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $692,409.44 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,368.07 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$46,140.00
Years until enrollment18
Annual Tuition Increase7%
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 $1,368.07 $0.00 $0.00 $1,368.07
2 $1,368.07 $1,368.07 $0.00 $7.74 $2,743.88
3 $2,743.88 $1,368.07 $0.00 $15.51 $4,127.46
4 $4,127.46 $1,368.07 $0.00 $23.34 $5,518.87
5 $5,518.87 $1,368.07 $0.00 $31.20 $6,918.14
6 $6,918.14 $1,368.07 $0.00 $39.12 $8,325.33
7 $8,325.33 $1,368.07 $0.00 $47.07 $9,740.47
8 $9,740.47 $1,368.07 $0.00 $55.07 $11,163.61
9 $11,163.61 $1,368.07 $0.00 $63.12 $12,594.80
10 $12,594.80 $1,368.07 $0.00 $71.21 $14,034.08
11 $14,034.08 $1,368.07 $0.00 $79.35 $15,481.50
12 $15,481.50 $1,368.07 $0.00 $87.53 $16,937.10
13 $16,937.10 $1,368.07 $0.00 $95.76 $18,400.93
14 $18,400.93 $1,368.07 $0.00 $104.04 $19,873.04
15 $19,873.04 $1,368.07 $0.00 $112.37 $21,353.48
16 $21,353.48 $1,368.07 $0.00 $120.74 $22,842.29
17 $22,842.29 $1,368.07 $0.00 $129.15 $24,339.51
18 $24,339.51 $1,368.07 $0.00 $137.62 $25,845.20
19 $25,845.20 $1,368.07 $0.00 $146.13 $27,359.40
20 $27,359.40 $1,368.07 $0.00 $154.69 $28,882.16
21 $28,882.16 $1,368.07 $0.00 $163.30 $30,413.53
22 $30,413.53 $1,368.07 $0.00 $171.96 $31,953.56
23 $31,953.56 $1,368.07 $0.00 $180.67 $33,502.30
24 $33,502.30 $1,368.07 $0.00 $189.43 $35,059.80
25 $35,059.80 $1,368.07 $0.00 $198.23 $36,626.10
26 $36,626.10 $1,368.07 $0.00 $207.09 $38,201.26
27 $38,201.26 $1,368.07 $0.00 $216.00 $39,785.33
28 $39,785.33 $1,368.07 $0.00 $224.95 $41,378.35
29 $41,378.35 $1,368.07 $0.00 $233.96 $42,980.38
30 $42,980.38 $1,368.07 $0.00 $243.02 $44,591.47
31 $44,591.47 $1,368.07 $0.00 $252.13 $46,211.67
32 $46,211.67 $1,368.07 $0.00 $261.29 $47,841.03
33 $47,841.03 $1,368.07 $0.00 $270.50 $49,479.60
34 $49,479.60 $1,368.07 $0.00 $279.76 $51,127.43
35 $51,127.43 $1,368.07 $0.00 $289.08 $52,784.58
36 $52,784.58 $1,368.07 $0.00 $298.45 $54,451.10
37 $54,451.10 $1,368.07 $0.00 $307.87 $56,127.04
38 $56,127.04 $1,368.07 $0.00 $317.35 $57,812.46
39 $57,812.46 $1,368.07 $0.00 $326.88 $59,507.41
40 $59,507.41 $1,368.07 $0.00 $336.46 $61,211.94
41 $61,211.94 $1,368.07 $0.00 $346.10 $62,926.11
42 $62,926.11 $1,368.07 $0.00 $355.79 $64,649.97
43 $64,649.97 $1,368.07 $0.00 $365.54 $66,383.58
44 $66,383.58 $1,368.07 $0.00 $375.34 $68,126.99
45 $68,126.99 $1,368.07 $0.00 $385.20 $69,880.26
46 $69,880.26 $1,368.07 $0.00 $395.11 $71,643.44
47 $71,643.44 $1,368.07 $0.00 $405.08 $73,416.59
48 $73,416.59 $1,368.07 $0.00 $415.11 $75,199.77
49 $75,199.77 $1,368.07 $0.00 $425.19 $76,993.03
50 $76,993.03 $1,368.07 $0.00 $435.33 $78,796.43
51 $78,796.43 $1,368.07 $0.00 $445.53 $80,610.03
52 $80,610.03 $1,368.07 $0.00 $455.78 $82,433.88
53 $82,433.88 $1,368.07 $0.00 $466.09 $84,268.04
54 $84,268.04 $1,368.07 $0.00 $476.46 $86,112.57
55 $86,112.57 $1,368.07 $0.00 $486.89 $87,967.53
56 $87,967.53 $1,368.07 $0.00 $497.38 $89,832.98
57 $89,832.98 $1,368.07 $0.00 $507.93 $91,708.98
58 $91,708.98 $1,368.07 $0.00 $518.54 $93,595.59
59 $93,595.59 $1,368.07 $0.00 $529.20 $95,492.86
60 $95,492.86 $1,368.07 $0.00 $539.93 $97,400.86
61 $97,400.86 $1,368.07 $0.00 $550.72 $99,319.65
62 $99,319.65 $1,368.07 $0.00 $561.57 $101,249.29
63 $101,249.29 $1,368.07 $0.00 $572.48 $103,189.84
64 $103,189.84 $1,368.07 $0.00 $583.45 $105,141.36
65 $105,141.36 $1,368.07 $0.00 $594.48 $107,103.91
66 $107,103.91 $1,368.07 $0.00 $605.58 $109,077.56
67 $109,077.56 $1,368.07 $0.00 $616.74 $111,062.37
68 $111,062.37 $1,368.07 $0.00 $627.96 $113,058.40
69 $113,058.40 $1,368.07 $0.00 $639.25 $115,065.72
70 $115,065.72 $1,368.07 $0.00 $650.60 $117,084.39
71 $117,084.39 $1,368.07 $0.00 $662.01 $119,114.47
72 $119,114.47 $1,368.07 $0.00 $673.49 $121,156.03
73 $121,156.03 $1,368.07 $0.00 $685.03 $123,209.13
74 $123,209.13 $1,368.07 $0.00 $696.64 $125,273.84
75 $125,273.84 $1,368.07 $0.00 $708.32 $127,350.23
76 $127,350.23 $1,368.07 $0.00 $720.06 $129,438.36
77 $129,438.36 $1,368.07 $0.00 $731.86 $131,538.29
78 $131,538.29 $1,368.07 $0.00 $743.74 $133,650.10
79 $133,650.10 $1,368.07 $0.00 $755.68 $135,773.85
80 $135,773.85 $1,368.07 $0.00 $767.69 $137,909.61
81 $137,909.61 $1,368.07 $0.00 $779.76 $140,057.44
82 $140,057.44 $1,368.07 $0.00 $791.91 $142,217.42
83 $142,217.42 $1,368.07 $0.00 $804.12 $144,389.61
84 $144,389.61 $1,368.07 $0.00 $816.40 $146,574.08
85 $146,574.08 $1,368.07 $0.00 $828.75 $148,770.90
86 $148,770.90 $1,368.07 $0.00 $841.17 $150,980.14
87 $150,980.14 $1,368.07 $0.00 $853.66 $153,201.87
88 $153,201.87 $1,368.07 $0.00 $866.23 $155,436.17
89 $155,436.17 $1,368.07 $0.00 $878.86 $157,683.10
90 $157,683.10 $1,368.07 $0.00 $891.56 $159,942.73
91 $159,942.73 $1,368.07 $0.00 $904.34 $162,215.14
92 $162,215.14 $1,368.07 $0.00 $917.19 $164,500.40
93 $164,500.40 $1,368.07 $0.00 $930.11 $166,798.58
94 $166,798.58 $1,368.07 $0.00 $943.10 $169,109.75
95 $169,109.75 $1,368.07 $0.00 $956.17 $171,433.99
96 $171,433.99 $1,368.07 $0.00 $969.31 $173,771.37
97 $173,771.37 $1,368.07 $0.00 $982.53 $176,121.97
98 $176,121.97 $1,368.07 $0.00 $995.82 $178,485.86
99 $178,485.86 $1,368.07 $0.00 $1,009.19 $180,863.12
100 $180,863.12 $1,368.07 $0.00 $1,022.63 $183,253.82
101 $183,253.82 $1,368.07 $0.00 $1,036.14 $185,658.03
102 $185,658.03 $1,368.07 $0.00 $1,049.74 $188,075.84
103 $188,075.84 $1,368.07 $0.00 $1,063.41 $190,507.32
104 $190,507.32 $1,368.07 $0.00 $1,077.16 $192,952.55
105 $192,952.55 $1,368.07 $0.00 $1,090.98 $195,411.60
106 $195,411.60 $1,368.07 $0.00 $1,104.89 $197,884.56
107 $197,884.56 $1,368.07 $0.00 $1,118.87 $200,371.50
108 $200,371.50 $1,368.07 $0.00 $1,132.93 $202,872.50
109 $202,872.50 $1,368.07 $0.00 $1,147.07 $205,387.64
110 $205,387.64 $1,368.07 $0.00 $1,161.29 $207,917.00
111 $207,917.00 $1,368.07 $0.00 $1,175.59 $210,460.66
112 $210,460.66 $1,368.07 $0.00 $1,189.98 $213,018.71
113 $213,018.71 $1,368.07 $0.00 $1,204.44 $215,591.22
114 $215,591.22 $1,368.07 $0.00 $1,218.98 $218,178.27
115 $218,178.27 $1,368.07 $0.00 $1,233.61 $220,779.95
116 $220,779.95 $1,368.07 $0.00 $1,248.32 $223,396.34
117 $223,396.34 $1,368.07 $0.00 $1,263.12 $226,027.53
118 $226,027.53 $1,368.07 $0.00 $1,277.99 $228,673.59
119 $228,673.59 $1,368.07 $0.00 $1,292.95 $231,334.61
120 $231,334.61 $1,368.07 $0.00 $1,308.00 $234,010.68
121 $234,010.68 $1,368.07 $0.00 $1,323.13 $236,701.88
122 $236,701.88 $1,368.07 $0.00 $1,338.35 $239,408.30
123 $239,408.30 $1,368.07 $0.00 $1,353.65 $242,130.02
124 $242,130.02 $1,368.07 $0.00 $1,369.04 $244,867.13
125 $244,867.13 $1,368.07 $0.00 $1,384.51 $247,619.71
126 $247,619.71 $1,368.07 $0.00 $1,400.08 $250,387.86
127 $250,387.86 $1,368.07 $0.00 $1,415.73 $253,171.66
128 $253,171.66 $1,368.07 $0.00 $1,431.47 $255,971.20
129 $255,971.20 $1,368.07 $0.00 $1,447.30 $258,786.57
130 $258,786.57 $1,368.07 $0.00 $1,463.22 $261,617.86
131 $261,617.86 $1,368.07 $0.00 $1,479.23 $264,465.16
132 $264,465.16 $1,368.07 $0.00 $1,495.32 $267,328.55
133 $267,328.55 $1,368.07 $0.00 $1,511.51 $270,208.13
134 $270,208.13 $1,368.07 $0.00 $1,527.80 $273,104.00
135 $273,104.00 $1,368.07 $0.00 $1,544.17 $276,016.24
136 $276,016.24 $1,368.07 $0.00 $1,560.64 $278,944.95
137 $278,944.95 $1,368.07 $0.00 $1,577.20 $281,890.22
138 $281,890.22 $1,368.07 $0.00 $1,593.85 $284,852.14
139 $284,852.14 $1,368.07 $0.00 $1,610.60 $287,830.81
140 $287,830.81 $1,368.07 $0.00 $1,627.44 $290,826.32
141 $290,826.32 $1,368.07 $0.00 $1,644.37 $293,838.76
142 $293,838.76 $1,368.07 $0.00 $1,661.41 $296,868.24
143 $296,868.24 $1,368.07 $0.00 $1,678.54 $299,914.85
144 $299,914.85 $1,368.07 $0.00 $1,695.76 $302,978.68
145 $302,978.68 $1,368.07 $0.00 $1,713.09 $306,059.84
146 $306,059.84 $1,368.07 $0.00 $1,730.51 $309,158.42
147 $309,158.42 $1,368.07 $0.00 $1,748.03 $312,274.52
148 $312,274.52 $1,368.07 $0.00 $1,765.65 $315,408.24
149 $315,408.24 $1,368.07 $0.00 $1,783.36 $318,559.67
150 $318,559.67 $1,368.07 $0.00 $1,801.18 $321,728.92
151 $321,728.92 $1,368.07 $0.00 $1,819.10 $324,916.09
152 $324,916.09 $1,368.07 $0.00 $1,837.12 $328,121.28
153 $328,121.28 $1,368.07 $0.00 $1,855.25 $331,344.60
154 $331,344.60 $1,368.07 $0.00 $1,873.47 $334,586.14
155 $334,586.14 $1,368.07 $0.00 $1,891.80 $337,846.01
156 $337,846.01 $1,368.07 $0.00 $1,910.23 $341,124.31
157 $341,124.31 $1,368.07 $0.00 $1,928.77 $344,421.15
158 $344,421.15 $1,368.07 $0.00 $1,947.41 $347,736.63
159 $347,736.63 $1,368.07 $0.00 $1,966.15 $351,070.85
160 $351,070.85 $1,368.07 $0.00 $1,985.01 $354,423.93
161 $354,423.93 $1,368.07 $0.00 $2,003.96 $357,795.96
162 $357,795.96 $1,368.07 $0.00 $2,023.03 $361,187.06
163 $361,187.06 $1,368.07 $0.00 $2,042.20 $364,597.33
164 $364,597.33 $1,368.07 $0.00 $2,061.49 $368,026.89
165 $368,026.89 $1,368.07 $0.00 $2,080.88 $371,475.84
166 $371,475.84 $1,368.07 $0.00 $2,100.38 $374,944.29
167 $374,944.29 $1,368.07 $0.00 $2,119.99 $378,432.35
168 $378,432.35 $1,368.07 $0.00 $2,139.71 $381,940.13
169 $381,940.13 $1,368.07 $0.00 $2,159.55 $385,467.75
170 $385,467.75 $1,368.07 $0.00 $2,179.49 $389,015.31
171 $389,015.31 $1,368.07 $0.00 $2,199.55 $392,582.93
172 $392,582.93 $1,368.07 $0.00 $2,219.72 $396,170.72
173 $396,170.72 $1,368.07 $0.00 $2,240.01 $399,778.80
174 $399,778.80 $1,368.07 $0.00 $2,260.41 $403,407.28
175 $403,407.28 $1,368.07 $0.00 $2,280.92 $407,056.27
176 $407,056.27 $1,368.07 $0.00 $2,301.56 $410,725.90
177 $410,725.90 $1,368.07 $0.00 $2,322.30 $414,416.27
178 $414,416.27 $1,368.07 $0.00 $2,343.17 $418,127.51
179 $418,127.51 $1,368.07 $0.00 $2,364.15 $421,859.73
180 $421,859.73 $1,368.07 $0.00 $2,385.26 $425,613.06
181 $425,613.06 $1,368.07 $0.00 $2,406.48 $429,387.61
182 $429,387.61 $1,368.07 $0.00 $2,427.82 $433,183.50
183 $433,183.50 $1,368.07 $0.00 $2,449.28 $437,000.85
184 $437,000.85 $1,368.07 $0.00 $2,470.87 $440,839.79
185 $440,839.79 $1,368.07 $0.00 $2,492.57 $444,700.43
186 $444,700.43 $1,368.07 $0.00 $2,514.40 $448,582.90
187 $448,582.90 $1,368.07 $0.00 $2,536.35 $452,487.32
188 $452,487.32 $1,368.07 $0.00 $2,558.43 $456,413.82
189 $456,413.82 $1,368.07 $0.00 $2,580.63 $460,362.52
190 $460,362.52 $1,368.07 $0.00 $2,602.96 $464,333.55
191 $464,333.55 $1,368.07 $0.00 $2,625.41 $468,327.03
192 $468,327.03 $1,368.07 $0.00 $2,647.99 $472,343.09
193 $472,343.09 $1,368.07 $0.00 $2,670.70 $476,381.86
194 $476,381.86 $1,368.07 $0.00 $2,693.53 $480,443.46
195 $480,443.46 $1,368.07 $0.00 $2,716.50 $484,528.03
196 $484,528.03 $1,368.07 $0.00 $2,739.59 $488,635.69
197 $488,635.69 $1,368.07 $0.00 $2,762.82 $492,766.58
198 $492,766.58 $1,368.07 $0.00 $2,786.17 $496,920.82
199 $496,920.82 $1,368.07 $0.00 $2,809.66 $501,098.55
200 $501,098.55 $1,368.07 $0.00 $2,833.28 $505,299.90
201 $505,299.90 $1,368.07 $0.00 $2,857.04 $509,525.01
202 $509,525.01 $1,368.07 $0.00 $2,880.93 $513,774.01
203 $513,774.01 $1,368.07 $0.00 $2,904.95 $518,047.03
204 $518,047.03 $1,368.07 $0.00 $2,929.11 $522,344.21
205 $522,344.21 $1,368.07 $0.00 $2,953.41 $526,665.69
206 $526,665.69 $1,368.07 $0.00 $2,977.84 $531,011.60
207 $531,011.60 $1,368.07 $0.00 $3,002.42 $535,382.09
208 $535,382.09 $1,368.07 $0.00 $3,027.13 $539,777.29
209 $539,777.29 $1,368.07 $0.00 $3,051.98 $544,197.34
210 $544,197.34 $1,368.07 $0.00 $3,076.97 $548,642.38
211 $548,642.38 $1,368.07 $0.00 $3,102.10 $553,112.55
212 $553,112.55 $1,368.07 $0.00 $3,127.38 $557,608.00
213 $557,608.00 $1,368.07 $0.00 $3,152.80 $562,128.87
214 $562,128.87 $1,368.07 $0.00 $3,178.36 $566,675.30
215 $566,675.30 $1,368.07 $0.00 $3,204.06 $571,247.43
216 $571,247.43 $1,368.07 $0.00 $3,229.92 $575,845.42
217 $575,845.42 $1,368.07 $155,950.08 $3,255.91 $424,519.32
218 $424,519.32 $1,368.07 $0.00 $2,400.29 $428,287.68
219 $428,287.68 $1,368.07 $0.00 $2,421.60 $432,077.35
220 $432,077.35 $1,368.07 $0.00 $2,443.03 $435,888.45
221 $435,888.45 $1,368.07 $0.00 $2,464.58 $439,721.10
222 $439,721.10 $1,368.07 $0.00 $2,486.25 $443,575.42
223 $443,575.42 $1,368.07 $0.00 $2,508.04 $447,451.53
224 $447,451.53 $1,368.07 $0.00 $2,529.96 $451,349.56
225 $451,349.56 $1,368.07 $0.00 $2,552.00 $455,269.63
226 $455,269.63 $1,368.07 $0.00 $2,574.16 $459,211.86
227 $459,211.86 $1,368.07 $0.00 $2,596.45 $463,176.38
228 $463,176.38 $1,368.07 $0.00 $2,618.87 $467,163.32
229 $467,163.32 $1,368.07 $166,866.58 $2,641.41 $304,306.22
230 $304,306.22 $1,368.07 $0.00 $1,720.59 $307,394.88
231 $307,394.88 $1,368.07 $0.00 $1,738.06 $310,501.01
232 $310,501.01 $1,368.07 $0.00 $1,755.62 $313,624.70
233 $313,624.70 $1,368.07 $0.00 $1,773.28 $316,766.05
234 $316,766.05 $1,368.07 $0.00 $1,791.04 $319,925.16
235 $319,925.16 $1,368.07 $0.00 $1,808.90 $323,102.13
236 $323,102.13 $1,368.07 $0.00 $1,826.87 $326,297.07
237 $326,297.07 $1,368.07 $0.00 $1,844.93 $329,510.07
238 $329,510.07 $1,368.07 $0.00 $1,863.10 $332,741.24
239 $332,741.24 $1,368.07 $0.00 $1,881.37 $335,990.68
240 $335,990.68 $1,368.07 $0.00 $1,899.74 $339,258.49
241 $339,258.49 $1,368.07 $178,547.24 $1,918.22 $163,997.54
242 $163,997.54 $1,368.07 $0.00 $927.27 $166,292.88
243 $166,292.88 $1,368.07 $0.00 $940.24 $168,601.19
244 $168,601.19 $1,368.07 $0.00 $953.30 $170,922.56
245 $170,922.56 $1,368.07 $0.00 $966.42 $173,257.05
246 $173,257.05 $1,368.07 $0.00 $979.62 $175,604.74
247 $175,604.74 $1,368.07 $0.00 $992.89 $177,965.70
248 $177,965.70 $1,368.07 $0.00 $1,006.24 $180,340.01
249 $180,340.01 $1,368.07 $0.00 $1,019.67 $182,727.75
250 $182,727.75 $1,368.07 $0.00 $1,033.17 $185,128.99
251 $185,128.99 $1,368.07 $0.00 $1,046.75 $187,543.81
252 $187,543.81 $1,368.07 $0.00 $1,060.40 $189,972.28
253 $189,972.28 $0.00 $191,045.55 $1,074.13 $0.86