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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$38,539
Monthly savings required$171

How much will it cost to send your child to Lakeland Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $77,077.16 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $171.27 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$15,623.00
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 $171.27 $0.00 $0.00 $171.27
2 $171.27 $171.27 $0.00 $0.97 $343.51
3 $343.51 $171.27 $0.00 $1.94 $516.72
4 $516.72 $171.27 $0.00 $2.92 $690.91
5 $690.91 $171.27 $0.00 $3.91 $866.09
6 $866.09 $171.27 $0.00 $4.90 $1,042.26
7 $1,042.26 $171.27 $0.00 $5.89 $1,219.42
8 $1,219.42 $171.27 $0.00 $6.89 $1,397.58
9 $1,397.58 $171.27 $0.00 $7.90 $1,576.75
10 $1,576.75 $171.27 $0.00 $8.92 $1,756.94
11 $1,756.94 $171.27 $0.00 $9.93 $1,938.14
12 $1,938.14 $171.27 $0.00 $10.96 $2,120.37
13 $2,120.37 $171.27 $0.00 $11.99 $2,303.63
14 $2,303.63 $171.27 $0.00 $13.03 $2,487.93
15 $2,487.93 $171.27 $0.00 $14.07 $2,673.27
16 $2,673.27 $171.27 $0.00 $15.12 $2,859.66
17 $2,859.66 $171.27 $0.00 $16.17 $3,047.10
18 $3,047.10 $171.27 $0.00 $17.23 $3,235.60
19 $3,235.60 $171.27 $0.00 $18.29 $3,425.16
20 $3,425.16 $171.27 $0.00 $19.37 $3,615.80
21 $3,615.80 $171.27 $0.00 $20.44 $3,807.51
22 $3,807.51 $171.27 $0.00 $21.53 $4,000.31
23 $4,000.31 $171.27 $0.00 $22.62 $4,194.20
24 $4,194.20 $171.27 $0.00 $23.71 $4,389.18
25 $4,389.18 $171.27 $0.00 $24.82 $4,585.27
26 $4,585.27 $171.27 $0.00 $25.93 $4,782.47
27 $4,782.47 $171.27 $0.00 $27.04 $4,980.78
28 $4,980.78 $171.27 $0.00 $28.16 $5,180.21
29 $5,180.21 $171.27 $0.00 $29.29 $5,380.77
30 $5,380.77 $171.27 $0.00 $30.42 $5,582.46
31 $5,582.46 $171.27 $0.00 $31.56 $5,785.29
32 $5,785.29 $171.27 $0.00 $32.71 $5,989.27
33 $5,989.27 $171.27 $0.00 $33.86 $6,194.40
34 $6,194.40 $171.27 $0.00 $35.02 $6,400.69
35 $6,400.69 $171.27 $0.00 $36.19 $6,608.15
36 $6,608.15 $171.27 $0.00 $37.36 $6,816.78
37 $6,816.78 $171.27 $0.00 $38.54 $7,026.59
38 $7,026.59 $171.27 $0.00 $39.73 $7,237.59
39 $7,237.59 $171.27 $0.00 $40.92 $7,449.78
40 $7,449.78 $171.27 $0.00 $42.12 $7,663.17
41 $7,663.17 $171.27 $0.00 $43.33 $7,877.77
42 $7,877.77 $171.27 $0.00 $44.54 $8,093.58
43 $8,093.58 $171.27 $0.00 $45.76 $8,310.61
44 $8,310.61 $171.27 $0.00 $46.99 $8,528.87
45 $8,528.87 $171.27 $0.00 $48.22 $8,748.36
46 $8,748.36 $171.27 $0.00 $49.46 $8,969.09
47 $8,969.09 $171.27 $0.00 $50.71 $9,191.07
48 $9,191.07 $171.27 $0.00 $51.97 $9,414.31
49 $9,414.31 $171.27 $0.00 $53.23 $9,638.81
50 $9,638.81 $171.27 $0.00 $54.50 $9,864.58
51 $9,864.58 $171.27 $0.00 $55.78 $10,091.63
52 $10,091.63 $171.27 $0.00 $57.06 $10,319.96
53 $10,319.96 $171.27 $0.00 $58.35 $10,549.58
54 $10,549.58 $171.27 $0.00 $59.65 $10,780.50
55 $10,780.50 $171.27 $0.00 $60.95 $11,012.72
56 $11,012.72 $171.27 $0.00 $62.27 $11,246.26
57 $11,246.26 $171.27 $0.00 $63.59 $11,481.12
58 $11,481.12 $171.27 $0.00 $64.92 $11,717.31
59 $11,717.31 $171.27 $0.00 $66.25 $11,954.83
60 $11,954.83 $171.27 $0.00 $67.59 $12,193.69
61 $12,193.69 $171.27 $0.00 $68.94 $12,433.90
62 $12,433.90 $171.27 $0.00 $70.30 $12,675.47
63 $12,675.47 $171.27 $0.00 $71.67 $12,918.41
64 $12,918.41 $171.27 $0.00 $73.04 $13,162.72
65 $13,162.72 $171.27 $0.00 $74.42 $13,408.41
66 $13,408.41 $171.27 $0.00 $75.81 $13,655.49
67 $13,655.49 $171.27 $0.00 $77.21 $13,903.97
68 $13,903.97 $171.27 $0.00 $78.62 $14,153.86
69 $14,153.86 $171.27 $0.00 $80.03 $14,405.16
70 $14,405.16 $171.27 $0.00 $81.45 $14,657.88
71 $14,657.88 $171.27 $0.00 $82.88 $14,912.03
72 $14,912.03 $171.27 $0.00 $84.31 $15,167.61
73 $15,167.61 $171.27 $0.00 $85.76 $15,424.64
74 $15,424.64 $171.27 $0.00 $87.21 $15,683.12
75 $15,683.12 $171.27 $0.00 $88.67 $15,943.06
76 $15,943.06 $171.27 $0.00 $90.14 $16,204.47
77 $16,204.47 $171.27 $0.00 $91.62 $16,467.36
78 $16,467.36 $171.27 $0.00 $93.11 $16,731.74
79 $16,731.74 $171.27 $0.00 $94.60 $16,997.61
80 $16,997.61 $171.27 $0.00 $96.11 $17,264.99
81 $17,264.99 $171.27 $0.00 $97.62 $17,533.88
82 $17,533.88 $171.27 $0.00 $99.14 $17,804.29
83 $17,804.29 $171.27 $0.00 $100.67 $18,076.23
84 $18,076.23 $171.27 $0.00 $102.21 $18,349.71
85 $18,349.71 $171.27 $0.00 $103.75 $18,624.73
86 $18,624.73 $171.27 $0.00 $105.31 $18,901.31
87 $18,901.31 $171.27 $0.00 $106.87 $19,179.45
88 $19,179.45 $171.27 $0.00 $108.44 $19,459.16
89 $19,459.16 $171.27 $0.00 $110.02 $19,740.45
90 $19,740.45 $171.27 $0.00 $111.62 $20,023.34
91 $20,023.34 $171.27 $0.00 $113.21 $20,307.82
92 $20,307.82 $171.27 $0.00 $114.82 $20,593.91
93 $20,593.91 $171.27 $0.00 $116.44 $20,881.62
94 $20,881.62 $171.27 $0.00 $118.07 $21,170.96
95 $21,170.96 $171.27 $0.00 $119.70 $21,461.93
96 $21,461.93 $171.27 $0.00 $121.35 $21,754.55
97 $21,754.55 $171.27 $0.00 $123.00 $22,048.82
98 $22,048.82 $171.27 $0.00 $124.67 $22,344.76
99 $22,344.76 $171.27 $0.00 $126.34 $22,642.37
100 $22,642.37 $171.27 $0.00 $128.02 $22,941.66
101 $22,941.66 $171.27 $0.00 $129.72 $23,242.65
102 $23,242.65 $171.27 $0.00 $131.42 $23,545.34
103 $23,545.34 $171.27 $0.00 $133.13 $23,849.74
104 $23,849.74 $171.27 $0.00 $134.85 $24,155.86
105 $24,155.86 $171.27 $0.00 $136.58 $24,463.71
106 $24,463.71 $171.27 $0.00 $138.32 $24,773.30
107 $24,773.30 $171.27 $0.00 $140.07 $25,084.64
108 $25,084.64 $171.27 $0.00 $141.83 $25,397.74
109 $25,397.74 $171.27 $0.00 $143.60 $25,712.61
110 $25,712.61 $171.27 $0.00 $145.38 $26,029.26
111 $26,029.26 $171.27 $0.00 $147.17 $26,347.70
112 $26,347.70 $171.27 $0.00 $148.97 $26,667.94
113 $26,667.94 $171.27 $0.00 $150.78 $26,989.99
114 $26,989.99 $171.27 $0.00 $152.61 $27,313.87
115 $27,313.87 $171.27 $0.00 $154.44 $27,639.58
116 $27,639.58 $171.27 $0.00 $156.28 $27,967.13
117 $27,967.13 $171.27 $0.00 $158.13 $28,296.53
118 $28,296.53 $171.27 $0.00 $159.99 $28,627.79
119 $28,627.79 $171.27 $0.00 $161.87 $28,960.93
120 $28,960.93 $171.27 $0.00 $163.75 $29,295.95
121 $29,295.95 $171.27 $0.00 $165.64 $29,632.86
122 $29,632.86 $171.27 $0.00 $167.55 $29,971.68
123 $29,971.68 $171.27 $0.00 $169.46 $30,312.41
124 $30,312.41 $171.27 $0.00 $171.39 $30,655.07
125 $30,655.07 $171.27 $0.00 $173.33 $30,999.67
126 $30,999.67 $171.27 $0.00 $175.28 $31,346.22
127 $31,346.22 $171.27 $0.00 $177.24 $31,694.73
128 $31,694.73 $171.27 $0.00 $179.21 $32,045.21
129 $32,045.21 $171.27 $0.00 $181.19 $32,397.67
130 $32,397.67 $171.27 $0.00 $183.18 $32,752.12
131 $32,752.12 $171.27 $0.00 $185.19 $33,108.58
132 $33,108.58 $171.27 $0.00 $187.20 $33,467.05
133 $33,467.05 $171.27 $0.00 $189.23 $33,827.55
134 $33,827.55 $171.27 $0.00 $191.27 $34,190.09
135 $34,190.09 $171.27 $0.00 $193.32 $34,554.68
136 $34,554.68 $171.27 $0.00 $195.38 $34,921.33
137 $34,921.33 $171.27 $0.00 $197.45 $35,290.05
138 $35,290.05 $171.27 $0.00 $199.54 $35,660.86
139 $35,660.86 $171.27 $0.00 $201.63 $36,033.76
140 $36,033.76 $171.27 $0.00 $203.74 $36,408.77
141 $36,408.77 $171.27 $0.00 $205.86 $36,785.90
142 $36,785.90 $171.27 $0.00 $207.99 $37,165.16
143 $37,165.16 $171.27 $0.00 $210.14 $37,546.57
144 $37,546.57 $171.27 $0.00 $212.29 $37,930.13
145 $37,930.13 $171.27 $0.00 $214.46 $38,315.86
146 $38,315.86 $171.27 $0.00 $216.64 $38,703.77
147 $38,703.77 $171.27 $0.00 $218.84 $39,093.88
148 $39,093.88 $171.27 $0.00 $221.04 $39,486.19
149 $39,486.19 $171.27 $0.00 $223.26 $39,880.72
150 $39,880.72 $171.27 $0.00 $225.49 $40,277.48
151 $40,277.48 $171.27 $0.00 $227.73 $40,676.48
152 $40,676.48 $171.27 $0.00 $229.99 $41,077.74
153 $41,077.74 $171.27 $0.00 $232.26 $41,481.27
154 $41,481.27 $171.27 $0.00 $234.54 $41,887.08
155 $41,887.08 $171.27 $0.00 $236.84 $42,295.19
156 $42,295.19 $171.27 $0.00 $239.14 $42,705.60
157 $42,705.60 $171.27 $0.00 $241.46 $43,118.33
158 $43,118.33 $171.27 $0.00 $243.80 $43,533.40
159 $43,533.40 $171.27 $0.00 $246.14 $43,950.81
160 $43,950.81 $171.27 $0.00 $248.50 $44,370.58
161 $44,370.58 $171.27 $0.00 $250.88 $44,792.73
162 $44,792.73 $171.27 $0.00 $253.26 $45,217.26
163 $45,217.26 $171.27 $0.00 $255.66 $45,644.19
164 $45,644.19 $171.27 $0.00 $258.08 $46,073.54
165 $46,073.54 $171.27 $0.00 $260.51 $46,505.32
166 $46,505.32 $171.27 $0.00 $262.95 $46,939.54
167 $46,939.54 $171.27 $0.00 $265.40 $47,376.21
168 $47,376.21 $171.27 $0.00 $267.87 $47,815.35
169 $47,815.35 $171.27 $0.00 $270.35 $48,256.97
170 $48,256.97 $171.27 $0.00 $272.85 $48,701.09
171 $48,701.09 $171.27 $0.00 $275.36 $49,147.72
172 $49,147.72 $171.27 $0.00 $277.89 $49,596.88
173 $49,596.88 $171.27 $0.00 $280.43 $50,048.58
174 $50,048.58 $171.27 $0.00 $282.98 $50,502.83
175 $50,502.83 $171.27 $0.00 $285.55 $50,959.65
176 $50,959.65 $171.27 $0.00 $288.13 $51,419.05
177 $51,419.05 $171.27 $0.00 $290.73 $51,881.05
178 $51,881.05 $171.27 $0.00 $293.34 $52,345.66
179 $52,345.66 $171.27 $0.00 $295.97 $52,812.90
180 $52,812.90 $171.27 $0.00 $298.61 $53,282.78
181 $53,282.78 $171.27 $0.00 $301.27 $53,755.32
182 $53,755.32 $171.27 $0.00 $303.94 $54,230.53
183 $54,230.53 $171.27 $0.00 $306.63 $54,708.43
184 $54,708.43 $171.27 $0.00 $309.33 $55,189.03
185 $55,189.03 $171.27 $0.00 $312.05 $55,672.35
186 $55,672.35 $171.27 $0.00 $314.78 $56,158.40
187 $56,158.40 $171.27 $0.00 $317.53 $56,647.20
188 $56,647.20 $171.27 $0.00 $320.29 $57,138.76
189 $57,138.76 $171.27 $0.00 $323.07 $57,633.10
190 $57,633.10 $171.27 $0.00 $325.87 $58,130.24
191 $58,130.24 $171.27 $0.00 $328.68 $58,630.19
192 $58,630.19 $171.27 $0.00 $331.50 $59,132.96
193 $59,132.96 $171.27 $0.00 $334.35 $59,638.58
194 $59,638.58 $171.27 $0.00 $337.21 $60,147.06
195 $60,147.06 $171.27 $0.00 $340.08 $60,658.41
196 $60,658.41 $171.27 $0.00 $342.97 $61,172.65
197 $61,172.65 $171.27 $0.00 $345.88 $61,689.80
198 $61,689.80 $171.27 $0.00 $348.80 $62,209.87
199 $62,209.87 $171.27 $0.00 $351.74 $62,732.88
200 $62,732.88 $171.27 $0.00 $354.70 $63,258.85
201 $63,258.85 $171.27 $0.00 $357.67 $63,787.79
202 $63,787.79 $171.27 $0.00 $360.67 $64,319.73
203 $64,319.73 $171.27 $0.00 $363.67 $64,854.67
204 $64,854.67 $171.27 $0.00 $366.70 $65,392.64
205 $65,392.64 $171.27 $0.00 $369.74 $65,933.65
206 $65,933.65 $171.27 $0.00 $372.80 $66,477.72
207 $66,477.72 $171.27 $0.00 $375.87 $67,024.86
208 $67,024.86 $171.27 $0.00 $378.97 $67,575.10
209 $67,575.10 $171.27 $0.00 $382.08 $68,128.45
210 $68,128.45 $171.27 $0.00 $385.21 $68,684.93
211 $68,684.93 $171.27 $0.00 $388.35 $69,244.55
212 $69,244.55 $171.27 $0.00 $391.52 $69,807.34
213 $69,807.34 $171.27 $0.00 $394.70 $70,373.31
214 $70,373.31 $171.27 $0.00 $397.90 $70,942.48
215 $70,942.48 $171.27 $0.00 $401.12 $71,514.87
216 $71,514.87 $171.27 $0.00 $404.36 $72,090.50
217 $72,090.50 $171.27 $37,598.61 $407.61 $35,070.77
218 $35,070.77 $171.27 $0.00 $198.30 $35,440.34
219 $35,440.34 $171.27 $0.00 $200.38 $35,811.99
220 $35,811.99 $171.27 $0.00 $202.49 $36,185.75
221 $36,185.75 $171.27 $0.00 $204.60 $36,561.62
222 $36,561.62 $171.27 $0.00 $206.72 $36,939.61
223 $36,939.61 $171.27 $0.00 $208.86 $37,319.74
224 $37,319.74 $171.27 $0.00 $211.01 $37,702.02
225 $37,702.02 $171.27 $0.00 $213.17 $38,086.46
226 $38,086.46 $171.27 $0.00 $215.35 $38,473.08
227 $38,473.08 $171.27 $0.00 $217.53 $38,861.88
228 $38,861.88 $171.27 $0.00 $219.73 $39,252.88
229 $39,252.88 $0.00 $39,478.54 $221.94 ($3.72)