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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$63,648
Monthly savings required$283

How much will it cost to send your child to Brown Mackie College Akron in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $127,295.96 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $282.87 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$25,802.00
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 $282.87 $0.00 $0.00 $282.87
2 $282.87 $282.87 $0.00 $1.60 $567.34
3 $567.34 $282.87 $0.00 $3.21 $853.42
4 $853.42 $282.87 $0.00 $4.83 $1,141.12
5 $1,141.12 $282.87 $0.00 $6.45 $1,430.44
6 $1,430.44 $282.87 $0.00 $8.09 $1,721.40
7 $1,721.40 $282.87 $0.00 $9.73 $2,014.00
8 $2,014.00 $282.87 $0.00 $11.39 $2,308.26
9 $2,308.26 $282.87 $0.00 $13.05 $2,604.18
10 $2,604.18 $282.87 $0.00 $14.72 $2,901.77
11 $2,901.77 $282.87 $0.00 $16.41 $3,201.05
12 $3,201.05 $282.87 $0.00 $18.10 $3,502.02
13 $3,502.02 $282.87 $0.00 $19.80 $3,804.69
14 $3,804.69 $282.87 $0.00 $21.51 $4,109.07
15 $4,109.07 $282.87 $0.00 $23.23 $4,415.17
16 $4,415.17 $282.87 $0.00 $24.96 $4,723.00
17 $4,723.00 $282.87 $0.00 $26.70 $5,032.57
18 $5,032.57 $282.87 $0.00 $28.45 $5,343.89
19 $5,343.89 $282.87 $0.00 $30.22 $5,656.98
20 $5,656.98 $282.87 $0.00 $31.99 $5,971.84
21 $5,971.84 $282.87 $0.00 $33.77 $6,288.48
22 $6,288.48 $282.87 $0.00 $35.56 $6,606.91
23 $6,606.91 $282.87 $0.00 $37.36 $6,927.14
24 $6,927.14 $282.87 $0.00 $39.17 $7,249.18
25 $7,249.18 $282.87 $0.00 $40.99 $7,573.04
26 $7,573.04 $282.87 $0.00 $42.82 $7,898.73
27 $7,898.73 $282.87 $0.00 $44.66 $8,226.26
28 $8,226.26 $282.87 $0.00 $46.51 $8,555.64
29 $8,555.64 $282.87 $0.00 $48.37 $8,886.88
30 $8,886.88 $282.87 $0.00 $50.25 $9,220.00
31 $9,220.00 $282.87 $0.00 $52.13 $9,555.00
32 $9,555.00 $282.87 $0.00 $54.03 $9,891.90
33 $9,891.90 $282.87 $0.00 $55.93 $10,230.70
34 $10,230.70 $282.87 $0.00 $57.85 $10,571.42
35 $10,571.42 $282.87 $0.00 $59.77 $10,914.06
36 $10,914.06 $282.87 $0.00 $61.71 $11,258.64
37 $11,258.64 $282.87 $0.00 $63.66 $11,605.17
38 $11,605.17 $282.87 $0.00 $65.62 $11,953.66
39 $11,953.66 $282.87 $0.00 $67.59 $12,304.12
40 $12,304.12 $282.87 $0.00 $69.57 $12,656.56
41 $12,656.56 $282.87 $0.00 $71.56 $13,010.99
42 $13,010.99 $282.87 $0.00 $73.57 $13,367.43
43 $13,367.43 $282.87 $0.00 $75.58 $13,725.88
44 $13,725.88 $282.87 $0.00 $77.61 $14,086.36
45 $14,086.36 $282.87 $0.00 $79.65 $14,448.88
46 $14,448.88 $282.87 $0.00 $81.70 $14,813.45
47 $14,813.45 $282.87 $0.00 $83.76 $15,180.08
48 $15,180.08 $282.87 $0.00 $85.83 $15,548.78
49 $15,548.78 $282.87 $0.00 $87.92 $15,919.57
50 $15,919.57 $282.87 $0.00 $90.01 $16,292.45
51 $16,292.45 $282.87 $0.00 $92.12 $16,667.44
52 $16,667.44 $282.87 $0.00 $94.24 $17,044.55
53 $17,044.55 $282.87 $0.00 $96.37 $17,423.79
54 $17,423.79 $282.87 $0.00 $98.52 $17,805.18
55 $17,805.18 $282.87 $0.00 $100.67 $18,188.72
56 $18,188.72 $282.87 $0.00 $102.84 $18,574.43
57 $18,574.43 $282.87 $0.00 $105.02 $18,962.32
58 $18,962.32 $282.87 $0.00 $107.22 $19,352.41
59 $19,352.41 $282.87 $0.00 $109.42 $19,744.70
60 $19,744.70 $282.87 $0.00 $111.64 $20,139.21
61 $20,139.21 $282.87 $0.00 $113.87 $20,535.95
62 $20,535.95 $282.87 $0.00 $116.11 $20,934.93
63 $20,934.93 $282.87 $0.00 $118.37 $21,336.17
64 $21,336.17 $282.87 $0.00 $120.64 $21,739.68
65 $21,739.68 $282.87 $0.00 $122.92 $22,145.47
66 $22,145.47 $282.87 $0.00 $125.21 $22,553.55
67 $22,553.55 $282.87 $0.00 $127.52 $22,963.94
68 $22,963.94 $282.87 $0.00 $129.84 $23,376.65
69 $23,376.65 $282.87 $0.00 $132.17 $23,791.69
70 $23,791.69 $282.87 $0.00 $134.52 $24,209.08
71 $24,209.08 $282.87 $0.00 $136.88 $24,628.83
72 $24,628.83 $282.87 $0.00 $139.25 $25,050.95
73 $25,050.95 $282.87 $0.00 $141.64 $25,475.46
74 $25,475.46 $282.87 $0.00 $144.04 $25,902.37
75 $25,902.37 $282.87 $0.00 $146.46 $26,331.70
76 $26,331.70 $282.87 $0.00 $148.88 $26,763.45
77 $26,763.45 $282.87 $0.00 $151.32 $27,197.64
78 $27,197.64 $282.87 $0.00 $153.78 $27,634.29
79 $27,634.29 $282.87 $0.00 $156.25 $28,073.41
80 $28,073.41 $282.87 $0.00 $158.73 $28,515.01
81 $28,515.01 $282.87 $0.00 $161.23 $28,959.11
82 $28,959.11 $282.87 $0.00 $163.74 $29,405.72
83 $29,405.72 $282.87 $0.00 $166.26 $29,854.85
84 $29,854.85 $282.87 $0.00 $168.80 $30,306.52
85 $30,306.52 $282.87 $0.00 $171.36 $30,760.75
86 $30,760.75 $282.87 $0.00 $173.93 $31,217.55
87 $31,217.55 $282.87 $0.00 $176.51 $31,676.93
88 $31,676.93 $282.87 $0.00 $179.11 $32,138.91
89 $32,138.91 $282.87 $0.00 $181.72 $32,603.50
90 $32,603.50 $282.87 $0.00 $184.34 $33,070.71
91 $33,070.71 $282.87 $0.00 $186.99 $33,540.57
92 $33,540.57 $282.87 $0.00 $189.64 $34,013.08
93 $34,013.08 $282.87 $0.00 $192.31 $34,488.26
94 $34,488.26 $282.87 $0.00 $195.00 $34,966.13
95 $34,966.13 $282.87 $0.00 $197.70 $35,446.70
96 $35,446.70 $282.87 $0.00 $200.42 $35,929.99
97 $35,929.99 $282.87 $0.00 $203.15 $36,416.01
98 $36,416.01 $282.87 $0.00 $205.90 $36,904.78
99 $36,904.78 $282.87 $0.00 $208.66 $37,396.31
100 $37,396.31 $282.87 $0.00 $211.44 $37,890.62
101 $37,890.62 $282.87 $0.00 $214.24 $38,387.73
102 $38,387.73 $282.87 $0.00 $217.05 $38,887.65
103 $38,887.65 $282.87 $0.00 $219.88 $39,390.40
104 $39,390.40 $282.87 $0.00 $222.72 $39,895.99
105 $39,895.99 $282.87 $0.00 $225.58 $40,404.44
106 $40,404.44 $282.87 $0.00 $228.45 $40,915.76
107 $40,915.76 $282.87 $0.00 $231.34 $41,429.97
108 $41,429.97 $282.87 $0.00 $234.25 $41,947.09
109 $41,947.09 $282.87 $0.00 $237.17 $42,467.13
110 $42,467.13 $282.87 $0.00 $240.12 $42,990.12
111 $42,990.12 $282.87 $0.00 $243.07 $43,516.06
112 $43,516.06 $282.87 $0.00 $246.05 $44,044.98
113 $44,044.98 $282.87 $0.00 $249.04 $44,576.89
114 $44,576.89 $282.87 $0.00 $252.04 $45,111.80
115 $45,111.80 $282.87 $0.00 $255.07 $45,649.74
116 $45,649.74 $282.87 $0.00 $258.11 $46,190.72
117 $46,190.72 $282.87 $0.00 $261.17 $46,734.76
118 $46,734.76 $282.87 $0.00 $264.25 $47,281.88
119 $47,281.88 $282.87 $0.00 $267.34 $47,832.09
120 $47,832.09 $282.87 $0.00 $270.45 $48,385.41
121 $48,385.41 $282.87 $0.00 $273.58 $48,941.86
122 $48,941.86 $282.87 $0.00 $276.72 $49,501.45
123 $49,501.45 $282.87 $0.00 $279.89 $50,064.21
124 $50,064.21 $282.87 $0.00 $283.07 $50,630.15
125 $50,630.15 $282.87 $0.00 $286.27 $51,199.29
126 $51,199.29 $282.87 $0.00 $289.49 $51,771.65
127 $51,771.65 $282.87 $0.00 $292.72 $52,347.24
128 $52,347.24 $282.87 $0.00 $295.98 $52,926.09
129 $52,926.09 $282.87 $0.00 $299.25 $53,508.21
130 $53,508.21 $282.87 $0.00 $302.54 $54,093.62
131 $54,093.62 $282.87 $0.00 $305.85 $54,682.34
132 $54,682.34 $282.87 $0.00 $309.18 $55,274.39
133 $55,274.39 $282.87 $0.00 $312.53 $55,869.79
134 $55,869.79 $282.87 $0.00 $315.90 $56,468.56
135 $56,468.56 $282.87 $0.00 $319.28 $57,070.71
136 $57,070.71 $282.87 $0.00 $322.69 $57,676.27
137 $57,676.27 $282.87 $0.00 $326.11 $58,285.25
138 $58,285.25 $282.87 $0.00 $329.55 $58,897.67
139 $58,897.67 $282.87 $0.00 $333.02 $59,513.56
140 $59,513.56 $282.87 $0.00 $336.50 $60,132.93
141 $60,132.93 $282.87 $0.00 $340.00 $60,755.80
142 $60,755.80 $282.87 $0.00 $343.52 $61,382.19
143 $61,382.19 $282.87 $0.00 $347.06 $62,012.12
144 $62,012.12 $282.87 $0.00 $350.63 $62,645.62
145 $62,645.62 $282.87 $0.00 $354.21 $63,282.70
146 $63,282.70 $282.87 $0.00 $357.81 $63,923.38
147 $63,923.38 $282.87 $0.00 $361.43 $64,567.68
148 $64,567.68 $282.87 $0.00 $365.08 $65,215.63
149 $65,215.63 $282.87 $0.00 $368.74 $65,867.24
150 $65,867.24 $282.87 $0.00 $372.42 $66,522.53
151 $66,522.53 $282.87 $0.00 $376.13 $67,181.53
152 $67,181.53 $282.87 $0.00 $379.85 $67,844.25
153 $67,844.25 $282.87 $0.00 $383.60 $68,510.72
154 $68,510.72 $282.87 $0.00 $387.37 $69,180.96
155 $69,180.96 $282.87 $0.00 $391.16 $69,854.99
156 $69,854.99 $282.87 $0.00 $394.97 $70,532.83
157 $70,532.83 $282.87 $0.00 $398.80 $71,214.50
158 $71,214.50 $282.87 $0.00 $402.66 $71,900.03
159 $71,900.03 $282.87 $0.00 $406.53 $72,589.43
160 $72,589.43 $282.87 $0.00 $410.43 $73,282.73
161 $73,282.73 $282.87 $0.00 $414.35 $73,979.95
162 $73,979.95 $282.87 $0.00 $418.29 $74,681.11
163 $74,681.11 $282.87 $0.00 $422.26 $75,386.24
164 $75,386.24 $282.87 $0.00 $426.24 $76,095.35
165 $76,095.35 $282.87 $0.00 $430.25 $76,808.47
166 $76,808.47 $282.87 $0.00 $434.29 $77,525.63
167 $77,525.63 $282.87 $0.00 $438.34 $78,246.84
168 $78,246.84 $282.87 $0.00 $442.42 $78,972.13
169 $78,972.13 $282.87 $0.00 $446.52 $79,701.52
170 $79,701.52 $282.87 $0.00 $450.64 $80,435.03
171 $80,435.03 $282.87 $0.00 $454.79 $81,172.69
172 $81,172.69 $282.87 $0.00 $458.96 $81,914.52
173 $81,914.52 $282.87 $0.00 $463.16 $82,660.55
174 $82,660.55 $282.87 $0.00 $467.37 $83,410.79
175 $83,410.79 $282.87 $0.00 $471.62 $84,165.28
176 $84,165.28 $282.87 $0.00 $475.88 $84,924.03
177 $84,924.03 $282.87 $0.00 $480.17 $85,687.07
178 $85,687.07 $282.87 $0.00 $484.49 $86,454.43
179 $86,454.43 $282.87 $0.00 $488.83 $87,226.13
180 $87,226.13 $282.87 $0.00 $493.19 $88,002.19
181 $88,002.19 $282.87 $0.00 $497.58 $88,782.64
182 $88,782.64 $282.87 $0.00 $501.99 $89,567.50
183 $89,567.50 $282.87 $0.00 $506.43 $90,356.80
184 $90,356.80 $282.87 $0.00 $510.89 $91,150.56
185 $91,150.56 $282.87 $0.00 $515.38 $91,948.81
186 $91,948.81 $282.87 $0.00 $519.89 $92,751.57
187 $92,751.57 $282.87 $0.00 $524.43 $93,558.87
188 $93,558.87 $282.87 $0.00 $529.00 $94,370.74
189 $94,370.74 $282.87 $0.00 $533.59 $95,187.20
190 $95,187.20 $282.87 $0.00 $538.20 $96,008.27
191 $96,008.27 $282.87 $0.00 $542.84 $96,833.98
192 $96,833.98 $282.87 $0.00 $547.51 $97,664.36
193 $97,664.36 $282.87 $0.00 $552.21 $98,499.44
194 $98,499.44 $282.87 $0.00 $556.93 $99,339.24
195 $99,339.24 $282.87 $0.00 $561.68 $100,183.79
196 $100,183.79 $282.87 $0.00 $566.45 $101,033.11
197 $101,033.11 $282.87 $0.00 $571.26 $101,887.24
198 $101,887.24 $282.87 $0.00 $576.09 $102,746.20
199 $102,746.20 $282.87 $0.00 $580.94 $103,610.01
200 $103,610.01 $282.87 $0.00 $585.83 $104,478.71
201 $104,478.71 $282.87 $0.00 $590.74 $105,352.32
202 $105,352.32 $282.87 $0.00 $595.68 $106,230.87
203 $106,230.87 $282.87 $0.00 $600.64 $107,114.38
204 $107,114.38 $282.87 $0.00 $605.64 $108,002.89
205 $108,002.89 $282.87 $0.00 $610.66 $108,896.42
206 $108,896.42 $282.87 $0.00 $615.72 $109,795.01
207 $109,795.01 $282.87 $0.00 $620.80 $110,698.68
208 $110,698.68 $282.87 $0.00 $625.91 $111,607.46
209 $111,607.46 $282.87 $0.00 $631.04 $112,521.37
210 $112,521.37 $282.87 $0.00 $636.21 $113,440.45
211 $113,440.45 $282.87 $0.00 $641.41 $114,364.73
212 $114,364.73 $282.87 $0.00 $646.63 $115,294.23
213 $115,294.23 $282.87 $0.00 $651.89 $116,228.99
214 $116,228.99 $282.87 $0.00 $657.18 $117,169.04
215 $117,169.04 $282.87 $0.00 $662.49 $118,114.40
216 $118,114.40 $282.87 $0.00 $667.84 $119,065.11
217 $119,065.11 $282.87 $62,095.59 $673.21 $57,925.60
218 $57,925.60 $282.87 $0.00 $327.52 $58,535.99
219 $58,535.99 $282.87 $0.00 $330.97 $59,149.83
220 $59,149.83 $282.87 $0.00 $334.44 $59,767.14
221 $59,767.14 $282.87 $0.00 $337.93 $60,387.94
222 $60,387.94 $282.87 $0.00 $341.44 $61,012.25
223 $61,012.25 $282.87 $0.00 $344.97 $61,640.09
224 $61,640.09 $282.87 $0.00 $348.52 $62,271.48
225 $62,271.48 $282.87 $0.00 $352.09 $62,906.44
226 $62,906.44 $282.87 $0.00 $355.68 $63,544.99
227 $63,544.99 $282.87 $0.00 $359.29 $64,187.15
228 $64,187.15 $282.87 $0.00 $362.92 $64,832.94
229 $64,832.94 $0.00 $65,200.37 $366.57 ($0.86)