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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$121,155
Monthly savings required$959

How much will it cost to send your child to Defiance College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $484,618.60 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $959.04 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$46,720.00
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 $959.04 $0.00 $0.00 $959.04
2 $959.04 $959.04 $0.00 $5.42 $1,923.50
3 $1,923.50 $959.04 $0.00 $10.88 $2,893.42
4 $2,893.42 $959.04 $0.00 $16.36 $3,868.82
5 $3,868.82 $959.04 $0.00 $21.87 $4,849.73
6 $4,849.73 $959.04 $0.00 $27.42 $5,836.19
7 $5,836.19 $959.04 $0.00 $33.00 $6,828.23
8 $6,828.23 $959.04 $0.00 $38.61 $7,825.88
9 $7,825.88 $959.04 $0.00 $44.25 $8,829.17
10 $8,829.17 $959.04 $0.00 $49.92 $9,838.13
11 $9,838.13 $959.04 $0.00 $55.63 $10,852.80
12 $10,852.80 $959.04 $0.00 $61.36 $11,873.20
13 $11,873.20 $959.04 $0.00 $67.13 $12,899.37
14 $12,899.37 $959.04 $0.00 $72.93 $13,931.34
15 $13,931.34 $959.04 $0.00 $78.77 $14,969.15
16 $14,969.15 $959.04 $0.00 $84.64 $16,012.83
17 $16,012.83 $959.04 $0.00 $90.54 $17,062.41
18 $17,062.41 $959.04 $0.00 $96.47 $18,117.92
19 $18,117.92 $959.04 $0.00 $102.44 $19,179.40
20 $19,179.40 $959.04 $0.00 $108.44 $20,246.88
21 $20,246.88 $959.04 $0.00 $114.48 $21,320.40
22 $21,320.40 $959.04 $0.00 $120.55 $22,399.99
23 $22,399.99 $959.04 $0.00 $126.65 $23,485.68
24 $23,485.68 $959.04 $0.00 $132.79 $24,577.51
25 $24,577.51 $959.04 $0.00 $138.96 $25,675.51
26 $25,675.51 $959.04 $0.00 $145.17 $26,779.72
27 $26,779.72 $959.04 $0.00 $151.42 $27,890.18
28 $27,890.18 $959.04 $0.00 $157.70 $29,006.92
29 $29,006.92 $959.04 $0.00 $164.01 $30,129.97
30 $30,129.97 $959.04 $0.00 $170.36 $31,259.37
31 $31,259.37 $959.04 $0.00 $176.75 $32,395.16
32 $32,395.16 $959.04 $0.00 $183.17 $33,537.37
33 $33,537.37 $959.04 $0.00 $189.63 $34,686.04
34 $34,686.04 $959.04 $0.00 $196.12 $35,841.20
35 $35,841.20 $959.04 $0.00 $202.65 $37,002.89
36 $37,002.89 $959.04 $0.00 $209.22 $38,171.15
37 $38,171.15 $959.04 $0.00 $215.83 $39,346.02
38 $39,346.02 $959.04 $0.00 $222.47 $40,527.53
39 $40,527.53 $959.04 $0.00 $229.15 $41,715.72
40 $41,715.72 $959.04 $0.00 $235.87 $42,910.63
41 $42,910.63 $959.04 $0.00 $242.62 $44,112.29
42 $44,112.29 $959.04 $0.00 $249.42 $45,320.75
43 $45,320.75 $959.04 $0.00 $256.25 $46,536.04
44 $46,536.04 $959.04 $0.00 $263.12 $47,758.20
45 $47,758.20 $959.04 $0.00 $270.03 $48,987.27
46 $48,987.27 $959.04 $0.00 $276.98 $50,223.29
47 $50,223.29 $959.04 $0.00 $283.97 $51,466.30
48 $51,466.30 $959.04 $0.00 $291.00 $52,716.34
49 $52,716.34 $959.04 $0.00 $298.07 $53,973.45
50 $53,973.45 $959.04 $0.00 $305.17 $55,237.66
51 $55,237.66 $959.04 $0.00 $312.32 $56,509.02
52 $56,509.02 $959.04 $0.00 $319.51 $57,787.57
53 $57,787.57 $959.04 $0.00 $326.74 $59,073.35
54 $59,073.35 $959.04 $0.00 $334.01 $60,366.40
55 $60,366.40 $959.04 $0.00 $341.32 $61,666.76
56 $61,666.76 $959.04 $0.00 $348.67 $62,974.47
57 $62,974.47 $959.04 $0.00 $356.07 $64,289.58
58 $64,289.58 $959.04 $0.00 $363.50 $65,612.12
59 $65,612.12 $959.04 $0.00 $370.98 $66,942.14
60 $66,942.14 $959.04 $0.00 $378.50 $68,279.68
61 $68,279.68 $959.04 $0.00 $386.06 $69,624.78
62 $69,624.78 $959.04 $0.00 $393.67 $70,977.49
63 $70,977.49 $959.04 $0.00 $401.32 $72,337.85
64 $72,337.85 $959.04 $0.00 $409.01 $73,705.90
65 $73,705.90 $959.04 $0.00 $416.74 $75,081.68
66 $75,081.68 $959.04 $0.00 $424.52 $76,465.24
67 $76,465.24 $959.04 $0.00 $432.35 $77,856.63
68 $77,856.63 $959.04 $0.00 $440.21 $79,255.88
69 $79,255.88 $959.04 $0.00 $448.12 $80,663.04
70 $80,663.04 $959.04 $0.00 $456.08 $82,078.16
71 $82,078.16 $959.04 $0.00 $464.08 $83,501.28
72 $83,501.28 $959.04 $0.00 $472.13 $84,932.45
73 $84,932.45 $959.04 $0.00 $480.22 $86,371.71
74 $86,371.71 $959.04 $0.00 $488.36 $87,819.11
75 $87,819.11 $959.04 $0.00 $496.54 $89,274.69
76 $89,274.69 $959.04 $0.00 $504.77 $90,738.50
77 $90,738.50 $959.04 $0.00 $513.05 $92,210.59
78 $92,210.59 $959.04 $0.00 $521.37 $93,691.00
79 $93,691.00 $959.04 $0.00 $529.74 $95,179.78
80 $95,179.78 $959.04 $0.00 $538.16 $96,676.98
81 $96,676.98 $959.04 $0.00 $546.63 $98,182.65
82 $98,182.65 $959.04 $0.00 $555.14 $99,696.83
83 $99,696.83 $959.04 $0.00 $563.70 $101,219.57
84 $101,219.57 $959.04 $0.00 $572.31 $102,750.92
85 $102,750.92 $959.04 $0.00 $580.97 $104,290.93
86 $104,290.93 $959.04 $0.00 $589.68 $105,839.65
87 $105,839.65 $959.04 $0.00 $598.43 $107,397.12
88 $107,397.12 $959.04 $0.00 $607.24 $108,963.40
89 $108,963.40 $959.04 $0.00 $616.09 $110,538.53
90 $110,538.53 $959.04 $0.00 $625.00 $112,122.57
91 $112,122.57 $959.04 $0.00 $633.96 $113,715.57
92 $113,715.57 $959.04 $0.00 $642.96 $115,317.57
93 $115,317.57 $959.04 $0.00 $652.02 $116,928.63
94 $116,928.63 $959.04 $0.00 $661.13 $118,548.80
95 $118,548.80 $959.04 $0.00 $670.29 $120,178.13
96 $120,178.13 $959.04 $0.00 $679.50 $121,816.67
97 $121,816.67 $959.04 $0.00 $688.77 $123,464.48
98 $123,464.48 $959.04 $0.00 $698.09 $125,121.61
99 $125,121.61 $959.04 $0.00 $707.46 $126,788.11
100 $126,788.11 $959.04 $0.00 $716.88 $128,464.03
101 $128,464.03 $959.04 $0.00 $726.35 $130,149.42
102 $130,149.42 $959.04 $0.00 $735.88 $131,844.34
103 $131,844.34 $959.04 $0.00 $745.47 $133,548.85
104 $133,548.85 $959.04 $0.00 $755.10 $135,262.99
105 $135,262.99 $959.04 $0.00 $764.80 $136,986.83
106 $136,986.83 $959.04 $0.00 $774.54 $138,720.41
107 $138,720.41 $959.04 $0.00 $784.35 $140,463.80
108 $140,463.80 $959.04 $0.00 $794.20 $142,217.04
109 $142,217.04 $959.04 $0.00 $804.12 $143,980.20
110 $143,980.20 $959.04 $0.00 $814.08 $145,753.32
111 $145,753.32 $959.04 $0.00 $824.11 $147,536.47
112 $147,536.47 $959.04 $0.00 $834.19 $149,329.70
113 $149,329.70 $959.04 $0.00 $844.33 $151,133.07
114 $151,133.07 $959.04 $0.00 $854.53 $152,946.64
115 $152,946.64 $959.04 $0.00 $864.78 $154,770.46
116 $154,770.46 $959.04 $0.00 $875.09 $156,604.59
117 $156,604.59 $959.04 $0.00 $885.47 $158,449.10
118 $158,449.10 $959.04 $0.00 $895.89 $160,304.03
119 $160,304.03 $959.04 $0.00 $906.38 $162,169.45
120 $162,169.45 $959.04 $0.00 $916.93 $164,045.42
121 $164,045.42 $959.04 $0.00 $927.54 $165,932.00
122 $165,932.00 $959.04 $0.00 $938.20 $167,829.24
123 $167,829.24 $959.04 $0.00 $948.93 $169,737.21
124 $169,737.21 $959.04 $0.00 $959.72 $171,655.97
125 $171,655.97 $959.04 $0.00 $970.57 $173,585.58
126 $173,585.58 $959.04 $0.00 $981.48 $175,526.10
127 $175,526.10 $959.04 $0.00 $992.45 $177,477.59
128 $177,477.59 $959.04 $0.00 $1,003.48 $179,440.11
129 $179,440.11 $959.04 $0.00 $1,014.58 $181,413.73
130 $181,413.73 $959.04 $0.00 $1,025.74 $183,398.51
131 $183,398.51 $959.04 $0.00 $1,036.96 $185,394.51
132 $185,394.51 $959.04 $0.00 $1,048.25 $187,401.80
133 $187,401.80 $959.04 $0.00 $1,059.60 $189,420.44
134 $189,420.44 $959.04 $0.00 $1,071.01 $191,450.49
135 $191,450.49 $959.04 $0.00 $1,082.49 $193,492.02
136 $193,492.02 $959.04 $0.00 $1,094.03 $195,545.09
137 $195,545.09 $959.04 $0.00 $1,105.64 $197,609.77
138 $197,609.77 $959.04 $0.00 $1,117.31 $199,686.12
139 $199,686.12 $959.04 $0.00 $1,129.05 $201,774.21
140 $201,774.21 $959.04 $0.00 $1,140.86 $203,874.11
141 $203,874.11 $959.04 $0.00 $1,152.73 $205,985.88
142 $205,985.88 $959.04 $0.00 $1,164.67 $208,109.59
143 $208,109.59 $959.04 $0.00 $1,176.68 $210,245.31
144 $210,245.31 $959.04 $0.00 $1,188.76 $212,393.11
145 $212,393.11 $959.04 $0.00 $1,200.90 $214,553.05
146 $214,553.05 $959.04 $0.00 $1,213.11 $216,725.20
147 $216,725.20 $959.04 $0.00 $1,225.40 $218,909.64
148 $218,909.64 $959.04 $0.00 $1,237.75 $221,106.43
149 $221,106.43 $959.04 $0.00 $1,250.17 $223,315.64
150 $223,315.64 $959.04 $0.00 $1,262.66 $225,537.34
151 $225,537.34 $959.04 $0.00 $1,275.22 $227,771.60
152 $227,771.60 $959.04 $0.00 $1,287.85 $230,018.49
153 $230,018.49 $959.04 $0.00 $1,300.56 $232,278.09
154 $232,278.09 $959.04 $0.00 $1,313.33 $234,550.46
155 $234,550.46 $959.04 $0.00 $1,326.18 $236,835.68
156 $236,835.68 $959.04 $0.00 $1,339.10 $239,133.82
157 $239,133.82 $959.04 $0.00 $1,352.10 $241,444.96
158 $241,444.96 $959.04 $0.00 $1,365.16 $243,769.16
159 $243,769.16 $959.04 $0.00 $1,378.31 $246,106.51
160 $246,106.51 $959.04 $0.00 $1,391.52 $248,457.07
161 $248,457.07 $959.04 $0.00 $1,404.81 $250,820.92
162 $250,820.92 $959.04 $0.00 $1,418.18 $253,198.14
163 $253,198.14 $959.04 $0.00 $1,431.62 $255,588.80
164 $255,588.80 $959.04 $0.00 $1,445.14 $257,992.98
165 $257,992.98 $959.04 $0.00 $1,458.73 $260,410.75
166 $260,410.75 $959.04 $0.00 $1,472.40 $262,842.19
167 $262,842.19 $959.04 $0.00 $1,486.15 $265,287.38
168 $265,287.38 $959.04 $0.00 $1,499.97 $267,746.39
169 $267,746.39 $959.04 $0.00 $1,513.88 $270,219.31
170 $270,219.31 $959.04 $0.00 $1,527.86 $272,706.21
171 $272,706.21 $959.04 $0.00 $1,541.92 $275,207.17
172 $275,207.17 $959.04 $0.00 $1,556.06 $277,722.27
173 $277,722.27 $959.04 $0.00 $1,570.28 $280,251.59
174 $280,251.59 $959.04 $0.00 $1,584.58 $282,795.21
175 $282,795.21 $959.04 $0.00 $1,598.97 $285,353.22
176 $285,353.22 $959.04 $0.00 $1,613.43 $287,925.69
177 $287,925.69 $959.04 $0.00 $1,627.97 $290,512.70
178 $290,512.70 $959.04 $0.00 $1,642.60 $293,114.34
179 $293,114.34 $959.04 $0.00 $1,657.31 $295,730.69
180 $295,730.69 $959.04 $0.00 $1,672.10 $298,361.83
181 $298,361.83 $959.04 $0.00 $1,686.98 $301,007.85
182 $301,007.85 $959.04 $0.00 $1,701.94 $303,668.83
183 $303,668.83 $959.04 $0.00 $1,716.99 $306,344.86
184 $306,344.86 $959.04 $0.00 $1,732.12 $309,036.02
185 $309,036.02 $959.04 $0.00 $1,747.33 $311,742.39
186 $311,742.39 $959.04 $0.00 $1,762.64 $314,464.07
187 $314,464.07 $959.04 $0.00 $1,778.03 $317,201.14
188 $317,201.14 $959.04 $0.00 $1,793.50 $319,953.68
189 $319,953.68 $959.04 $0.00 $1,809.06 $322,721.78
190 $322,721.78 $959.04 $0.00 $1,824.72 $325,505.54
191 $325,505.54 $959.04 $0.00 $1,840.46 $328,305.04
192 $328,305.04 $959.04 $0.00 $1,856.28 $331,120.36
193 $331,120.36 $959.04 $0.00 $1,872.20 $333,951.60
194 $333,951.60 $959.04 $0.00 $1,888.21 $336,798.85
195 $336,798.85 $959.04 $0.00 $1,904.31 $339,662.20
196 $339,662.20 $959.04 $0.00 $1,920.50 $342,541.74
197 $342,541.74 $959.04 $0.00 $1,936.78 $345,437.56
198 $345,437.56 $959.04 $0.00 $1,953.15 $348,349.75
199 $348,349.75 $959.04 $0.00 $1,969.62 $351,278.41
200 $351,278.41 $959.04 $0.00 $1,986.18 $354,223.63
201 $354,223.63 $959.04 $0.00 $2,002.83 $357,185.50
202 $357,185.50 $959.04 $0.00 $2,019.58 $360,164.12
203 $360,164.12 $959.04 $0.00 $2,036.42 $363,159.58
204 $363,159.58 $959.04 $0.00 $2,053.36 $366,171.98
205 $366,171.98 $959.04 $0.00 $2,070.39 $369,201.41
206 $369,201.41 $959.04 $0.00 $2,087.52 $372,247.97
207 $372,247.97 $959.04 $0.00 $2,104.74 $375,311.75
208 $375,311.75 $959.04 $0.00 $2,122.07 $378,392.86
209 $378,392.86 $959.04 $0.00 $2,139.49 $381,491.39
210 $381,491.39 $959.04 $0.00 $2,157.01 $384,607.44
211 $384,607.44 $959.04 $0.00 $2,174.63 $387,741.11
212 $387,741.11 $959.04 $0.00 $2,192.34 $390,892.49
213 $390,892.49 $959.04 $0.00 $2,210.16 $394,061.69
214 $394,061.69 $959.04 $0.00 $2,228.08 $397,248.81
215 $397,248.81 $959.04 $0.00 $2,246.10 $400,453.95
216 $400,453.95 $959.04 $0.00 $2,264.22 $403,677.21
217 $403,677.21 $959.04 $112,437.25 $2,282.45 $294,481.45
218 $294,481.45 $959.04 $0.00 $1,665.04 $297,105.53
219 $297,105.53 $959.04 $0.00 $1,679.88 $299,744.45
220 $299,744.45 $959.04 $0.00 $1,694.80 $302,398.29
221 $302,398.29 $959.04 $0.00 $1,709.80 $305,067.13
222 $305,067.13 $959.04 $0.00 $1,724.89 $307,751.06
223 $307,751.06 $959.04 $0.00 $1,740.07 $310,450.17
224 $310,450.17 $959.04 $0.00 $1,755.33 $313,164.54
225 $313,164.54 $959.04 $0.00 $1,770.68 $315,894.26
226 $315,894.26 $959.04 $0.00 $1,786.11 $318,639.41
227 $318,639.41 $959.04 $0.00 $1,801.63 $321,400.08
228 $321,400.08 $959.04 $0.00 $1,817.24 $324,176.36
229 $324,176.36 $959.04 $118,059.11 $1,832.94 $208,909.23
230 $208,909.23 $959.04 $0.00 $1,181.20 $211,049.47
231 $211,049.47 $959.04 $0.00 $1,193.30 $213,201.81
232 $213,201.81 $959.04 $0.00 $1,205.47 $215,366.32
233 $215,366.32 $959.04 $0.00 $1,217.71 $217,543.07
234 $217,543.07 $959.04 $0.00 $1,230.02 $219,732.13
235 $219,732.13 $959.04 $0.00 $1,242.40 $221,933.57
236 $221,933.57 $959.04 $0.00 $1,254.84 $224,147.45
237 $224,147.45 $959.04 $0.00 $1,267.36 $226,373.85
238 $226,373.85 $959.04 $0.00 $1,279.95 $228,612.84
239 $228,612.84 $959.04 $0.00 $1,292.61 $230,864.49
240 $230,864.49 $959.04 $0.00 $1,305.34 $233,128.87
241 $233,128.87 $959.04 $123,962.07 $1,318.14 $111,443.98
242 $111,443.98 $959.04 $0.00 $630.12 $113,033.14
243 $113,033.14 $959.04 $0.00 $639.11 $114,631.29
244 $114,631.29 $959.04 $0.00 $648.14 $116,238.47
245 $116,238.47 $959.04 $0.00 $657.23 $117,854.74
246 $117,854.74 $959.04 $0.00 $666.37 $119,480.15
247 $119,480.15 $959.04 $0.00 $675.56 $121,114.75
248 $121,114.75 $959.04 $0.00 $684.80 $122,758.59
249 $122,758.59 $959.04 $0.00 $694.09 $124,411.72
250 $124,411.72 $959.04 $0.00 $703.44 $126,074.20
251 $126,074.20 $959.04 $0.00 $712.84 $127,746.08
252 $127,746.08 $959.04 $0.00 $722.29 $129,427.41
253 $129,427.41 $0.00 $130,160.17 $731.80 ($0.96)