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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$61,376
Monthly savings required$273

How much will it cost to send your child to Fortis College Ravenna in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $122,752.14 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $272.78 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$24,881.00
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 $272.78 $0.00 $0.00 $272.78
2 $272.78 $272.78 $0.00 $1.54 $547.10
3 $547.10 $272.78 $0.00 $3.09 $822.97
4 $822.97 $272.78 $0.00 $4.65 $1,100.40
5 $1,100.40 $272.78 $0.00 $6.22 $1,379.40
6 $1,379.40 $272.78 $0.00 $7.80 $1,659.98
7 $1,659.98 $272.78 $0.00 $9.39 $1,942.15
8 $1,942.15 $272.78 $0.00 $10.98 $2,225.91
9 $2,225.91 $272.78 $0.00 $12.59 $2,511.28
10 $2,511.28 $272.78 $0.00 $14.20 $2,798.26
11 $2,798.26 $272.78 $0.00 $15.82 $3,086.86
12 $3,086.86 $272.78 $0.00 $17.45 $3,377.09
13 $3,377.09 $272.78 $0.00 $19.09 $3,668.96
14 $3,668.96 $272.78 $0.00 $20.74 $3,962.48
15 $3,962.48 $272.78 $0.00 $22.40 $4,257.66
16 $4,257.66 $272.78 $0.00 $24.07 $4,554.51
17 $4,554.51 $272.78 $0.00 $25.75 $4,853.04
18 $4,853.04 $272.78 $0.00 $27.44 $5,153.26
19 $5,153.26 $272.78 $0.00 $29.14 $5,455.18
20 $5,455.18 $272.78 $0.00 $30.84 $5,758.80
21 $5,758.80 $272.78 $0.00 $32.56 $6,064.14
22 $6,064.14 $272.78 $0.00 $34.29 $6,371.21
23 $6,371.21 $272.78 $0.00 $36.02 $6,680.01
24 $6,680.01 $272.78 $0.00 $37.77 $6,990.56
25 $6,990.56 $272.78 $0.00 $39.53 $7,302.87
26 $7,302.87 $272.78 $0.00 $41.29 $7,616.94
27 $7,616.94 $272.78 $0.00 $43.07 $7,932.79
28 $7,932.79 $272.78 $0.00 $44.85 $8,250.42
29 $8,250.42 $272.78 $0.00 $46.65 $8,569.85
30 $8,569.85 $272.78 $0.00 $48.46 $8,891.09
31 $8,891.09 $272.78 $0.00 $50.27 $9,214.14
32 $9,214.14 $272.78 $0.00 $52.10 $9,539.02
33 $9,539.02 $272.78 $0.00 $53.94 $9,865.74
34 $9,865.74 $272.78 $0.00 $55.78 $10,194.30
35 $10,194.30 $272.78 $0.00 $57.64 $10,524.72
36 $10,524.72 $272.78 $0.00 $59.51 $10,857.01
37 $10,857.01 $272.78 $0.00 $61.39 $11,191.18
38 $11,191.18 $272.78 $0.00 $63.28 $11,527.24
39 $11,527.24 $272.78 $0.00 $65.18 $11,865.20
40 $11,865.20 $272.78 $0.00 $67.09 $12,205.07
41 $12,205.07 $272.78 $0.00 $69.01 $12,546.86
42 $12,546.86 $272.78 $0.00 $70.94 $12,890.58
43 $12,890.58 $272.78 $0.00 $72.89 $13,236.25
44 $13,236.25 $272.78 $0.00 $74.84 $13,583.87
45 $13,583.87 $272.78 $0.00 $76.81 $13,933.46
46 $13,933.46 $272.78 $0.00 $78.78 $14,285.02
47 $14,285.02 $272.78 $0.00 $80.77 $14,638.57
48 $14,638.57 $272.78 $0.00 $82.77 $14,994.12
49 $14,994.12 $272.78 $0.00 $84.78 $15,351.68
50 $15,351.68 $272.78 $0.00 $86.80 $15,711.26
51 $15,711.26 $272.78 $0.00 $88.83 $16,072.87
52 $16,072.87 $272.78 $0.00 $90.88 $16,436.53
53 $16,436.53 $272.78 $0.00 $92.93 $16,802.24
54 $16,802.24 $272.78 $0.00 $95.00 $17,170.02
55 $17,170.02 $272.78 $0.00 $97.08 $17,539.88
56 $17,539.88 $272.78 $0.00 $99.17 $17,911.83
57 $17,911.83 $272.78 $0.00 $101.28 $18,285.89
58 $18,285.89 $272.78 $0.00 $103.39 $18,662.06
59 $18,662.06 $272.78 $0.00 $105.52 $19,040.36
60 $19,040.36 $272.78 $0.00 $107.66 $19,420.80
61 $19,420.80 $272.78 $0.00 $109.81 $19,803.39
62 $19,803.39 $272.78 $0.00 $111.97 $20,188.14
63 $20,188.14 $272.78 $0.00 $114.15 $20,575.07
64 $20,575.07 $272.78 $0.00 $116.33 $20,964.18
65 $20,964.18 $272.78 $0.00 $118.53 $21,355.49
66 $21,355.49 $272.78 $0.00 $120.75 $21,749.02
67 $21,749.02 $272.78 $0.00 $122.97 $22,144.77
68 $22,144.77 $272.78 $0.00 $125.21 $22,542.76
69 $22,542.76 $272.78 $0.00 $127.46 $22,943.00
70 $22,943.00 $272.78 $0.00 $129.72 $23,345.50
71 $23,345.50 $272.78 $0.00 $132.00 $23,750.28
72 $23,750.28 $272.78 $0.00 $134.29 $24,157.35
73 $24,157.35 $272.78 $0.00 $136.59 $24,566.72
74 $24,566.72 $272.78 $0.00 $138.90 $24,978.40
75 $24,978.40 $272.78 $0.00 $141.23 $25,392.41
76 $25,392.41 $272.78 $0.00 $143.57 $25,808.76
77 $25,808.76 $272.78 $0.00 $145.93 $26,227.47
78 $26,227.47 $272.78 $0.00 $148.29 $26,648.54
79 $26,648.54 $272.78 $0.00 $150.67 $27,071.99
80 $27,071.99 $272.78 $0.00 $153.07 $27,497.84
81 $27,497.84 $272.78 $0.00 $155.48 $27,926.10
82 $27,926.10 $272.78 $0.00 $157.90 $28,356.78
83 $28,356.78 $272.78 $0.00 $160.33 $28,789.89
84 $28,789.89 $272.78 $0.00 $162.78 $29,225.45
85 $29,225.45 $272.78 $0.00 $165.24 $29,663.47
86 $29,663.47 $272.78 $0.00 $167.72 $30,103.97
87 $30,103.97 $272.78 $0.00 $170.21 $30,546.96
88 $30,546.96 $272.78 $0.00 $172.72 $30,992.46
89 $30,992.46 $272.78 $0.00 $175.24 $31,440.48
90 $31,440.48 $272.78 $0.00 $177.77 $31,891.03
91 $31,891.03 $272.78 $0.00 $180.32 $32,344.13
92 $32,344.13 $272.78 $0.00 $182.88 $32,799.79
93 $32,799.79 $272.78 $0.00 $185.45 $33,258.02
94 $33,258.02 $272.78 $0.00 $188.05 $33,718.85
95 $33,718.85 $272.78 $0.00 $190.65 $34,182.28
96 $34,182.28 $272.78 $0.00 $193.27 $34,648.33
97 $34,648.33 $272.78 $0.00 $195.91 $35,117.02
98 $35,117.02 $272.78 $0.00 $198.56 $35,588.36
99 $35,588.36 $272.78 $0.00 $201.22 $36,062.36
100 $36,062.36 $272.78 $0.00 $203.90 $36,539.04
101 $36,539.04 $272.78 $0.00 $206.60 $37,018.42
102 $37,018.42 $272.78 $0.00 $209.31 $37,500.51
103 $37,500.51 $272.78 $0.00 $212.03 $37,985.32
104 $37,985.32 $272.78 $0.00 $214.77 $38,472.87
105 $38,472.87 $272.78 $0.00 $217.53 $38,963.18
106 $38,963.18 $272.78 $0.00 $220.30 $39,456.26
107 $39,456.26 $272.78 $0.00 $223.09 $39,952.13
108 $39,952.13 $272.78 $0.00 $225.90 $40,450.81
109 $40,450.81 $272.78 $0.00 $228.71 $40,952.30
110 $40,952.30 $272.78 $0.00 $231.55 $41,456.63
111 $41,456.63 $272.78 $0.00 $234.40 $41,963.81
112 $41,963.81 $272.78 $0.00 $237.27 $42,473.86
113 $42,473.86 $272.78 $0.00 $240.15 $42,986.79
114 $42,986.79 $272.78 $0.00 $243.05 $43,502.62
115 $43,502.62 $272.78 $0.00 $245.97 $44,021.37
116 $44,021.37 $272.78 $0.00 $248.90 $44,543.05
117 $44,543.05 $272.78 $0.00 $251.85 $45,067.68
118 $45,067.68 $272.78 $0.00 $254.82 $45,595.28
119 $45,595.28 $272.78 $0.00 $257.80 $46,125.86
120 $46,125.86 $272.78 $0.00 $260.80 $46,659.44
121 $46,659.44 $272.78 $0.00 $263.82 $47,196.04
122 $47,196.04 $272.78 $0.00 $266.85 $47,735.67
123 $47,735.67 $272.78 $0.00 $269.90 $48,278.35
124 $48,278.35 $272.78 $0.00 $272.97 $48,824.10
125 $48,824.10 $272.78 $0.00 $276.06 $49,372.94
126 $49,372.94 $272.78 $0.00 $279.16 $49,924.88
127 $49,924.88 $272.78 $0.00 $282.28 $50,479.94
128 $50,479.94 $272.78 $0.00 $285.42 $51,038.14
129 $51,038.14 $272.78 $0.00 $288.58 $51,599.50
130 $51,599.50 $272.78 $0.00 $291.75 $52,164.03
131 $52,164.03 $272.78 $0.00 $294.94 $52,731.75
132 $52,731.75 $272.78 $0.00 $298.15 $53,302.68
133 $53,302.68 $272.78 $0.00 $301.38 $53,876.84
134 $53,876.84 $272.78 $0.00 $304.63 $54,454.25
135 $54,454.25 $272.78 $0.00 $307.89 $55,034.92
136 $55,034.92 $272.78 $0.00 $311.18 $55,618.88
137 $55,618.88 $272.78 $0.00 $314.48 $56,206.14
138 $56,206.14 $272.78 $0.00 $317.80 $56,796.72
139 $56,796.72 $272.78 $0.00 $321.14 $57,390.64
140 $57,390.64 $272.78 $0.00 $324.50 $57,987.92
141 $57,987.92 $272.78 $0.00 $327.87 $58,588.57
142 $58,588.57 $272.78 $0.00 $331.27 $59,192.62
143 $59,192.62 $272.78 $0.00 $334.68 $59,800.08
144 $59,800.08 $272.78 $0.00 $338.12 $60,410.98
145 $60,410.98 $272.78 $0.00 $341.57 $61,025.33
146 $61,025.33 $272.78 $0.00 $345.05 $61,643.16
147 $61,643.16 $272.78 $0.00 $348.54 $62,264.48
148 $62,264.48 $272.78 $0.00 $352.05 $62,889.31
149 $62,889.31 $272.78 $0.00 $355.59 $63,517.68
150 $63,517.68 $272.78 $0.00 $359.14 $64,149.60
151 $64,149.60 $272.78 $0.00 $362.71 $64,785.09
152 $64,785.09 $272.78 $0.00 $366.30 $65,424.17
153 $65,424.17 $272.78 $0.00 $369.92 $66,066.87
154 $66,066.87 $272.78 $0.00 $373.55 $66,713.20
155 $66,713.20 $272.78 $0.00 $377.21 $67,363.19
156 $67,363.19 $272.78 $0.00 $380.88 $68,016.85
157 $68,016.85 $272.78 $0.00 $384.58 $68,674.21
158 $68,674.21 $272.78 $0.00 $388.29 $69,335.28
159 $69,335.28 $272.78 $0.00 $392.03 $70,000.09
160 $70,000.09 $272.78 $0.00 $395.79 $70,668.66
161 $70,668.66 $272.78 $0.00 $399.57 $71,341.01
162 $71,341.01 $272.78 $0.00 $403.37 $72,017.16
163 $72,017.16 $272.78 $0.00 $407.20 $72,697.14
164 $72,697.14 $272.78 $0.00 $411.04 $73,380.96
165 $73,380.96 $272.78 $0.00 $414.91 $74,068.65
166 $74,068.65 $272.78 $0.00 $418.79 $74,760.22
167 $74,760.22 $272.78 $0.00 $422.71 $75,455.71
168 $75,455.71 $272.78 $0.00 $426.64 $76,155.13
169 $76,155.13 $272.78 $0.00 $430.59 $76,858.50
170 $76,858.50 $272.78 $0.00 $434.57 $77,565.85
171 $77,565.85 $272.78 $0.00 $438.57 $78,277.20
172 $78,277.20 $272.78 $0.00 $442.59 $78,992.57
173 $78,992.57 $272.78 $0.00 $446.64 $79,711.99
174 $79,711.99 $272.78 $0.00 $450.70 $80,435.47
175 $80,435.47 $272.78 $0.00 $454.79 $81,163.04
176 $81,163.04 $272.78 $0.00 $458.91 $81,894.73
177 $81,894.73 $272.78 $0.00 $463.04 $82,630.55
178 $82,630.55 $272.78 $0.00 $467.21 $83,370.54
179 $83,370.54 $272.78 $0.00 $471.39 $84,114.71
180 $84,114.71 $272.78 $0.00 $475.60 $84,863.09
181 $84,863.09 $272.78 $0.00 $479.83 $85,615.70
182 $85,615.70 $272.78 $0.00 $484.08 $86,372.56
183 $86,372.56 $272.78 $0.00 $488.36 $87,133.70
184 $87,133.70 $272.78 $0.00 $492.67 $87,899.15
185 $87,899.15 $272.78 $0.00 $496.99 $88,668.92
186 $88,668.92 $272.78 $0.00 $501.35 $89,443.05
187 $89,443.05 $272.78 $0.00 $505.72 $90,221.55
188 $90,221.55 $272.78 $0.00 $510.13 $91,004.46
189 $91,004.46 $272.78 $0.00 $514.55 $91,791.79
190 $91,791.79 $272.78 $0.00 $519.00 $92,583.57
191 $92,583.57 $272.78 $0.00 $523.48 $93,379.83
192 $93,379.83 $272.78 $0.00 $527.98 $94,180.59
193 $94,180.59 $272.78 $0.00 $532.51 $94,985.88
194 $94,985.88 $272.78 $0.00 $537.06 $95,795.72
195 $95,795.72 $272.78 $0.00 $541.64 $96,610.14
196 $96,610.14 $272.78 $0.00 $546.25 $97,429.17
197 $97,429.17 $272.78 $0.00 $550.88 $98,252.83
198 $98,252.83 $272.78 $0.00 $555.54 $99,081.15
199 $99,081.15 $272.78 $0.00 $560.22 $99,914.15
200 $99,914.15 $272.78 $0.00 $564.93 $100,751.86
201 $100,751.86 $272.78 $0.00 $569.67 $101,594.31
202 $101,594.31 $272.78 $0.00 $574.43 $102,441.52
203 $102,441.52 $272.78 $0.00 $579.22 $103,293.52
204 $103,293.52 $272.78 $0.00 $584.04 $104,150.34
205 $104,150.34 $272.78 $0.00 $588.88 $105,012.00
206 $105,012.00 $272.78 $0.00 $593.75 $105,878.53
207 $105,878.53 $272.78 $0.00 $598.65 $106,749.96
208 $106,749.96 $272.78 $0.00 $603.58 $107,626.32
209 $107,626.32 $272.78 $0.00 $608.53 $108,507.63
210 $108,507.63 $272.78 $0.00 $613.52 $109,393.93
211 $109,393.93 $272.78 $0.00 $618.53 $110,285.24
212 $110,285.24 $272.78 $0.00 $623.57 $111,181.59
213 $111,181.59 $272.78 $0.00 $628.64 $112,083.01
214 $112,083.01 $272.78 $0.00 $633.73 $112,989.52
215 $112,989.52 $272.78 $0.00 $638.86 $113,901.16
216 $113,901.16 $272.78 $0.00 $644.01 $114,817.95
217 $114,817.95 $272.78 $59,879.09 $649.20 $55,860.84
218 $55,860.84 $272.78 $0.00 $315.85 $56,449.47
219 $56,449.47 $272.78 $0.00 $319.17 $57,041.42
220 $57,041.42 $272.78 $0.00 $322.52 $57,636.72
221 $57,636.72 $272.78 $0.00 $325.89 $58,235.39
222 $58,235.39 $272.78 $0.00 $329.27 $58,837.44
223 $58,837.44 $272.78 $0.00 $332.68 $59,442.90
224 $59,442.90 $272.78 $0.00 $336.10 $60,051.78
225 $60,051.78 $272.78 $0.00 $339.54 $60,664.10
226 $60,664.10 $272.78 $0.00 $343.00 $61,279.88
227 $61,279.88 $272.78 $0.00 $346.49 $61,899.15
228 $61,899.15 $272.78 $0.00 $349.99 $62,521.92
229 $62,521.92 $0.00 $62,873.05 $353.51 $2.38