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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$39,017
Monthly savings required$173

How much will it cost to send your child to Lenoir Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $78,034.27 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $173.40 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$15,817.00
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 $173.40 $0.00 $0.00 $173.40
2 $173.40 $173.40 $0.00 $0.98 $347.78
3 $347.78 $173.40 $0.00 $1.97 $523.15
4 $523.15 $173.40 $0.00 $2.96 $699.51
5 $699.51 $173.40 $0.00 $3.96 $876.87
6 $876.87 $173.40 $0.00 $4.96 $1,055.23
7 $1,055.23 $173.40 $0.00 $5.97 $1,234.60
8 $1,234.60 $173.40 $0.00 $6.98 $1,414.98
9 $1,414.98 $173.40 $0.00 $8.00 $1,596.38
10 $1,596.38 $173.40 $0.00 $9.03 $1,778.81
11 $1,778.81 $173.40 $0.00 $10.06 $1,962.27
12 $1,962.27 $173.40 $0.00 $11.09 $2,146.76
13 $2,146.76 $173.40 $0.00 $12.14 $2,332.30
14 $2,332.30 $173.40 $0.00 $13.19 $2,518.89
15 $2,518.89 $173.40 $0.00 $14.24 $2,706.53
16 $2,706.53 $173.40 $0.00 $15.30 $2,895.23
17 $2,895.23 $173.40 $0.00 $16.37 $3,085.00
18 $3,085.00 $173.40 $0.00 $17.44 $3,275.84
19 $3,275.84 $173.40 $0.00 $18.52 $3,467.76
20 $3,467.76 $173.40 $0.00 $19.61 $3,660.77
21 $3,660.77 $173.40 $0.00 $20.70 $3,854.87
22 $3,854.87 $173.40 $0.00 $21.80 $4,050.07
23 $4,050.07 $173.40 $0.00 $22.90 $4,246.37
24 $4,246.37 $173.40 $0.00 $24.01 $4,443.78
25 $4,443.78 $173.40 $0.00 $25.13 $4,642.31
26 $4,642.31 $173.40 $0.00 $26.25 $4,841.96
27 $4,841.96 $173.40 $0.00 $27.38 $5,042.74
28 $5,042.74 $173.40 $0.00 $28.51 $5,244.65
29 $5,244.65 $173.40 $0.00 $29.65 $5,447.70
30 $5,447.70 $173.40 $0.00 $30.80 $5,651.90
31 $5,651.90 $173.40 $0.00 $31.96 $5,857.26
32 $5,857.26 $173.40 $0.00 $33.12 $6,063.78
33 $6,063.78 $173.40 $0.00 $34.29 $6,271.47
34 $6,271.47 $173.40 $0.00 $35.46 $6,480.33
35 $6,480.33 $173.40 $0.00 $36.64 $6,690.37
36 $6,690.37 $173.40 $0.00 $37.83 $6,901.60
37 $6,901.60 $173.40 $0.00 $39.02 $7,114.02
38 $7,114.02 $173.40 $0.00 $40.22 $7,327.64
39 $7,327.64 $173.40 $0.00 $41.43 $7,542.47
40 $7,542.47 $173.40 $0.00 $42.65 $7,758.52
41 $7,758.52 $173.40 $0.00 $43.87 $7,975.79
42 $7,975.79 $173.40 $0.00 $45.10 $8,194.29
43 $8,194.29 $173.40 $0.00 $46.33 $8,414.02
44 $8,414.02 $173.40 $0.00 $47.57 $8,634.99
45 $8,634.99 $173.40 $0.00 $48.82 $8,857.21
46 $8,857.21 $173.40 $0.00 $50.08 $9,080.69
47 $9,080.69 $173.40 $0.00 $51.34 $9,305.43
48 $9,305.43 $173.40 $0.00 $52.61 $9,531.44
49 $9,531.44 $173.40 $0.00 $53.89 $9,758.73
50 $9,758.73 $173.40 $0.00 $55.18 $9,987.31
51 $9,987.31 $173.40 $0.00 $56.47 $10,217.18
52 $10,217.18 $173.40 $0.00 $57.77 $10,448.35
53 $10,448.35 $173.40 $0.00 $59.08 $10,680.83
54 $10,680.83 $173.40 $0.00 $60.39 $10,914.62
55 $10,914.62 $173.40 $0.00 $61.71 $11,149.73
56 $11,149.73 $173.40 $0.00 $63.04 $11,386.17
57 $11,386.17 $173.40 $0.00 $64.38 $11,623.95
58 $11,623.95 $173.40 $0.00 $65.72 $11,863.07
59 $11,863.07 $173.40 $0.00 $67.08 $12,103.55
60 $12,103.55 $173.40 $0.00 $68.44 $12,345.39
61 $12,345.39 $173.40 $0.00 $69.80 $12,588.59
62 $12,588.59 $173.40 $0.00 $71.18 $12,833.17
63 $12,833.17 $173.40 $0.00 $72.56 $13,079.13
64 $13,079.13 $173.40 $0.00 $73.95 $13,326.48
65 $13,326.48 $173.40 $0.00 $75.35 $13,575.23
66 $13,575.23 $173.40 $0.00 $76.76 $13,825.39
67 $13,825.39 $173.40 $0.00 $78.17 $14,076.96
68 $14,076.96 $173.40 $0.00 $79.59 $14,329.95
69 $14,329.95 $173.40 $0.00 $81.02 $14,584.37
70 $14,584.37 $173.40 $0.00 $82.46 $14,840.23
71 $14,840.23 $173.40 $0.00 $83.91 $15,097.54
72 $15,097.54 $173.40 $0.00 $85.36 $15,356.30
73 $15,356.30 $173.40 $0.00 $86.83 $15,616.53
74 $15,616.53 $173.40 $0.00 $88.30 $15,878.23
75 $15,878.23 $173.40 $0.00 $89.78 $16,141.41
76 $16,141.41 $173.40 $0.00 $91.27 $16,406.08
77 $16,406.08 $173.40 $0.00 $92.76 $16,672.24
78 $16,672.24 $173.40 $0.00 $94.27 $16,939.91
79 $16,939.91 $173.40 $0.00 $95.78 $17,209.09
80 $17,209.09 $173.40 $0.00 $97.30 $17,479.79
81 $17,479.79 $173.40 $0.00 $98.83 $17,752.02
82 $17,752.02 $173.40 $0.00 $100.37 $18,025.79
83 $18,025.79 $173.40 $0.00 $101.92 $18,301.11
84 $18,301.11 $173.40 $0.00 $103.48 $18,577.99
85 $18,577.99 $173.40 $0.00 $105.04 $18,856.43
86 $18,856.43 $173.40 $0.00 $106.62 $19,136.45
87 $19,136.45 $173.40 $0.00 $108.20 $19,418.05
88 $19,418.05 $173.40 $0.00 $109.79 $19,701.24
89 $19,701.24 $173.40 $0.00 $111.39 $19,986.03
90 $19,986.03 $173.40 $0.00 $113.00 $20,272.43
91 $20,272.43 $173.40 $0.00 $114.62 $20,560.45
92 $20,560.45 $173.40 $0.00 $116.25 $20,850.10
93 $20,850.10 $173.40 $0.00 $117.89 $21,141.39
94 $21,141.39 $173.40 $0.00 $119.54 $21,434.33
95 $21,434.33 $173.40 $0.00 $121.19 $21,728.92
96 $21,728.92 $173.40 $0.00 $122.86 $22,025.18
97 $22,025.18 $173.40 $0.00 $124.53 $22,323.11
98 $22,323.11 $173.40 $0.00 $126.22 $22,622.73
99 $22,622.73 $173.40 $0.00 $127.91 $22,924.04
100 $22,924.04 $173.40 $0.00 $129.62 $23,227.06
101 $23,227.06 $173.40 $0.00 $131.33 $23,531.79
102 $23,531.79 $173.40 $0.00 $133.05 $23,838.24
103 $23,838.24 $173.40 $0.00 $134.78 $24,146.42
104 $24,146.42 $173.40 $0.00 $136.53 $24,456.35
105 $24,456.35 $173.40 $0.00 $138.28 $24,768.03
106 $24,768.03 $173.40 $0.00 $140.04 $25,081.47
107 $25,081.47 $173.40 $0.00 $141.81 $25,396.68
108 $25,396.68 $173.40 $0.00 $143.60 $25,713.68
109 $25,713.68 $173.40 $0.00 $145.39 $26,032.47
110 $26,032.47 $173.40 $0.00 $147.19 $26,353.06
111 $26,353.06 $173.40 $0.00 $149.00 $26,675.46
112 $26,675.46 $173.40 $0.00 $150.83 $26,999.69
113 $26,999.69 $173.40 $0.00 $152.66 $27,325.75
114 $27,325.75 $173.40 $0.00 $154.50 $27,653.65
115 $27,653.65 $173.40 $0.00 $156.36 $27,983.41
116 $27,983.41 $173.40 $0.00 $158.22 $28,315.03
117 $28,315.03 $173.40 $0.00 $160.10 $28,648.53
118 $28,648.53 $173.40 $0.00 $161.98 $28,983.91
119 $28,983.91 $173.40 $0.00 $163.88 $29,321.19
120 $29,321.19 $173.40 $0.00 $165.79 $29,660.38
121 $29,660.38 $173.40 $0.00 $167.70 $30,001.48
122 $30,001.48 $173.40 $0.00 $169.63 $30,344.51
123 $30,344.51 $173.40 $0.00 $171.57 $30,689.48
124 $30,689.48 $173.40 $0.00 $173.52 $31,036.40
125 $31,036.40 $173.40 $0.00 $175.48 $31,385.28
126 $31,385.28 $173.40 $0.00 $177.46 $31,736.14
127 $31,736.14 $173.40 $0.00 $179.44 $32,088.98
128 $32,088.98 $173.40 $0.00 $181.44 $32,443.82
129 $32,443.82 $173.40 $0.00 $183.44 $32,800.66
130 $32,800.66 $173.40 $0.00 $185.46 $33,159.52
131 $33,159.52 $173.40 $0.00 $187.49 $33,520.41
132 $33,520.41 $173.40 $0.00 $189.53 $33,883.34
133 $33,883.34 $173.40 $0.00 $191.58 $34,248.32
134 $34,248.32 $173.40 $0.00 $193.64 $34,615.36
135 $34,615.36 $173.40 $0.00 $195.72 $34,984.48
136 $34,984.48 $173.40 $0.00 $197.81 $35,355.69
137 $35,355.69 $173.40 $0.00 $199.91 $35,729.00
138 $35,729.00 $173.40 $0.00 $202.02 $36,104.42
139 $36,104.42 $173.40 $0.00 $204.14 $36,481.96
140 $36,481.96 $173.40 $0.00 $206.27 $36,861.63
141 $36,861.63 $173.40 $0.00 $208.42 $37,243.45
142 $37,243.45 $173.40 $0.00 $210.58 $37,627.43
143 $37,627.43 $173.40 $0.00 $212.75 $38,013.58
144 $38,013.58 $173.40 $0.00 $214.93 $38,401.91
145 $38,401.91 $173.40 $0.00 $217.13 $38,792.44
146 $38,792.44 $173.40 $0.00 $219.34 $39,185.18
147 $39,185.18 $173.40 $0.00 $221.56 $39,580.14
148 $39,580.14 $173.40 $0.00 $223.79 $39,977.33
149 $39,977.33 $173.40 $0.00 $226.04 $40,376.77
150 $40,376.77 $173.40 $0.00 $228.30 $40,778.47
151 $40,778.47 $173.40 $0.00 $230.57 $41,182.44
152 $41,182.44 $173.40 $0.00 $232.85 $41,588.69
153 $41,588.69 $173.40 $0.00 $235.15 $41,997.24
154 $41,997.24 $173.40 $0.00 $237.46 $42,408.10
155 $42,408.10 $173.40 $0.00 $239.78 $42,821.28
156 $42,821.28 $173.40 $0.00 $242.12 $43,236.80
157 $43,236.80 $173.40 $0.00 $244.47 $43,654.67
158 $43,654.67 $173.40 $0.00 $246.83 $44,074.90
159 $44,074.90 $173.40 $0.00 $249.21 $44,497.51
160 $44,497.51 $173.40 $0.00 $251.60 $44,922.51
161 $44,922.51 $173.40 $0.00 $254.00 $45,349.91
162 $45,349.91 $173.40 $0.00 $256.41 $45,779.72
163 $45,779.72 $173.40 $0.00 $258.85 $46,211.97
164 $46,211.97 $173.40 $0.00 $261.29 $46,646.66
165 $46,646.66 $173.40 $0.00 $263.75 $47,083.81
166 $47,083.81 $173.40 $0.00 $266.22 $47,523.43
167 $47,523.43 $173.40 $0.00 $268.70 $47,965.53
168 $47,965.53 $173.40 $0.00 $271.20 $48,410.13
169 $48,410.13 $173.40 $0.00 $273.72 $48,857.25
170 $48,857.25 $173.40 $0.00 $276.25 $49,306.90
171 $49,306.90 $173.40 $0.00 $278.79 $49,759.09
172 $49,759.09 $173.40 $0.00 $281.35 $50,213.84
173 $50,213.84 $173.40 $0.00 $283.92 $50,671.16
174 $50,671.16 $173.40 $0.00 $286.50 $51,131.06
175 $51,131.06 $173.40 $0.00 $289.10 $51,593.56
176 $51,593.56 $173.40 $0.00 $291.72 $52,058.68
177 $52,058.68 $173.40 $0.00 $294.35 $52,526.43
178 $52,526.43 $173.40 $0.00 $296.99 $52,996.82
179 $52,996.82 $173.40 $0.00 $299.65 $53,469.87
180 $53,469.87 $173.40 $0.00 $302.33 $53,945.60
181 $53,945.60 $173.40 $0.00 $305.02 $54,424.02
182 $54,424.02 $173.40 $0.00 $307.72 $54,905.14
183 $54,905.14 $173.40 $0.00 $310.44 $55,388.98
184 $55,388.98 $173.40 $0.00 $313.18 $55,875.56
185 $55,875.56 $173.40 $0.00 $315.93 $56,364.89
186 $56,364.89 $173.40 $0.00 $318.70 $56,856.99
187 $56,856.99 $173.40 $0.00 $321.48 $57,351.87
188 $57,351.87 $173.40 $0.00 $324.28 $57,849.55
189 $57,849.55 $173.40 $0.00 $327.09 $58,350.04
190 $58,350.04 $173.40 $0.00 $329.92 $58,853.36
191 $58,853.36 $173.40 $0.00 $332.77 $59,359.53
192 $59,359.53 $173.40 $0.00 $335.63 $59,868.56
193 $59,868.56 $173.40 $0.00 $338.51 $60,380.47
194 $60,380.47 $173.40 $0.00 $341.40 $60,895.27
195 $60,895.27 $173.40 $0.00 $344.31 $61,412.98
196 $61,412.98 $173.40 $0.00 $347.24 $61,933.62
197 $61,933.62 $173.40 $0.00 $350.18 $62,457.20
198 $62,457.20 $173.40 $0.00 $353.14 $62,983.74
199 $62,983.74 $173.40 $0.00 $356.12 $63,513.26
200 $63,513.26 $173.40 $0.00 $359.11 $64,045.77
201 $64,045.77 $173.40 $0.00 $362.12 $64,581.29
202 $64,581.29 $173.40 $0.00 $365.15 $65,119.84
203 $65,119.84 $173.40 $0.00 $368.20 $65,661.44
204 $65,661.44 $173.40 $0.00 $371.26 $66,206.10
205 $66,206.10 $173.40 $0.00 $374.34 $66,753.84
206 $66,753.84 $173.40 $0.00 $377.44 $67,304.68
207 $67,304.68 $173.40 $0.00 $380.55 $67,858.63
208 $67,858.63 $173.40 $0.00 $383.68 $68,415.71
209 $68,415.71 $173.40 $0.00 $386.83 $68,975.94
210 $68,975.94 $173.40 $0.00 $390.00 $69,539.34
211 $69,539.34 $173.40 $0.00 $393.19 $70,105.93
212 $70,105.93 $173.40 $0.00 $396.39 $70,675.72
213 $70,675.72 $173.40 $0.00 $399.61 $71,248.73
214 $71,248.73 $173.40 $0.00 $402.85 $71,824.98
215 $71,824.98 $173.40 $0.00 $406.11 $72,404.49
216 $72,404.49 $173.40 $0.00 $409.39 $72,987.28
217 $72,987.28 $173.40 $38,065.50 $412.68 $35,507.86
218 $35,507.86 $173.40 $0.00 $200.77 $35,882.03
219 $35,882.03 $173.40 $0.00 $202.88 $36,258.31
220 $36,258.31 $173.40 $0.00 $205.01 $36,636.72
221 $36,636.72 $173.40 $0.00 $207.15 $37,017.27
222 $37,017.27 $173.40 $0.00 $209.30 $37,399.97
223 $37,399.97 $173.40 $0.00 $211.46 $37,784.83
224 $37,784.83 $173.40 $0.00 $213.64 $38,171.87
225 $38,171.87 $173.40 $0.00 $215.83 $38,561.10
226 $38,561.10 $173.40 $0.00 $218.03 $38,952.53
227 $38,952.53 $173.40 $0.00 $220.24 $39,346.17
228 $39,346.17 $173.40 $0.00 $222.47 $39,742.04
229 $39,742.04 $0.00 $39,968.77 $224.71 ($2.02)