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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$54,861
Monthly savings required$244

How much will it cost to send your child to Lincoln College of Technology Dayton in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $109,722.58 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $243.82 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$22,240.00
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 $243.82 $0.00 $0.00 $243.82
2 $243.82 $243.82 $0.00 $1.38 $489.02
3 $489.02 $243.82 $0.00 $2.76 $735.60
4 $735.60 $243.82 $0.00 $4.16 $983.58
5 $983.58 $243.82 $0.00 $5.56 $1,232.96
6 $1,232.96 $243.82 $0.00 $6.97 $1,483.75
7 $1,483.75 $243.82 $0.00 $8.39 $1,735.96
8 $1,735.96 $243.82 $0.00 $9.82 $1,989.60
9 $1,989.60 $243.82 $0.00 $11.25 $2,244.67
10 $2,244.67 $243.82 $0.00 $12.69 $2,501.18
11 $2,501.18 $243.82 $0.00 $14.14 $2,759.14
12 $2,759.14 $243.82 $0.00 $15.60 $3,018.56
13 $3,018.56 $243.82 $0.00 $17.07 $3,279.45
14 $3,279.45 $243.82 $0.00 $18.54 $3,541.81
15 $3,541.81 $243.82 $0.00 $20.03 $3,805.66
16 $3,805.66 $243.82 $0.00 $21.52 $4,071.00
17 $4,071.00 $243.82 $0.00 $23.02 $4,337.84
18 $4,337.84 $243.82 $0.00 $24.53 $4,606.19
19 $4,606.19 $243.82 $0.00 $26.04 $4,876.05
20 $4,876.05 $243.82 $0.00 $27.57 $5,147.44
21 $5,147.44 $243.82 $0.00 $29.10 $5,420.36
22 $5,420.36 $243.82 $0.00 $30.65 $5,694.83
23 $5,694.83 $243.82 $0.00 $32.20 $5,970.85
24 $5,970.85 $243.82 $0.00 $33.76 $6,248.43
25 $6,248.43 $243.82 $0.00 $35.33 $6,527.58
26 $6,527.58 $243.82 $0.00 $36.91 $6,808.31
27 $6,808.31 $243.82 $0.00 $38.50 $7,090.63
28 $7,090.63 $243.82 $0.00 $40.09 $7,374.54
29 $7,374.54 $243.82 $0.00 $41.70 $7,660.06
30 $7,660.06 $243.82 $0.00 $43.31 $7,947.19
31 $7,947.19 $243.82 $0.00 $44.93 $8,235.94
32 $8,235.94 $243.82 $0.00 $46.57 $8,526.33
33 $8,526.33 $243.82 $0.00 $48.21 $8,818.36
34 $8,818.36 $243.82 $0.00 $49.86 $9,112.04
35 $9,112.04 $243.82 $0.00 $51.52 $9,407.38
36 $9,407.38 $243.82 $0.00 $53.19 $9,704.39
37 $9,704.39 $243.82 $0.00 $54.87 $10,003.08
38 $10,003.08 $243.82 $0.00 $56.56 $10,303.46
39 $10,303.46 $243.82 $0.00 $58.26 $10,605.54
40 $10,605.54 $243.82 $0.00 $59.97 $10,909.33
41 $10,909.33 $243.82 $0.00 $61.68 $11,214.83
42 $11,214.83 $243.82 $0.00 $63.41 $11,522.06
43 $11,522.06 $243.82 $0.00 $65.15 $11,831.03
44 $11,831.03 $243.82 $0.00 $66.89 $12,141.74
45 $12,141.74 $243.82 $0.00 $68.65 $12,454.21
46 $12,454.21 $243.82 $0.00 $70.42 $12,768.45
47 $12,768.45 $243.82 $0.00 $72.19 $13,084.46
48 $13,084.46 $243.82 $0.00 $73.98 $13,402.26
49 $13,402.26 $243.82 $0.00 $75.78 $13,721.86
50 $13,721.86 $243.82 $0.00 $77.59 $14,043.27
51 $14,043.27 $243.82 $0.00 $79.40 $14,366.49
52 $14,366.49 $243.82 $0.00 $81.23 $14,691.54
53 $14,691.54 $243.82 $0.00 $83.07 $15,018.43
54 $15,018.43 $243.82 $0.00 $84.92 $15,347.17
55 $15,347.17 $243.82 $0.00 $86.78 $15,677.77
56 $15,677.77 $243.82 $0.00 $88.64 $16,010.23
57 $16,010.23 $243.82 $0.00 $90.52 $16,344.57
58 $16,344.57 $243.82 $0.00 $92.41 $16,680.80
59 $16,680.80 $243.82 $0.00 $94.32 $17,018.94
60 $17,018.94 $243.82 $0.00 $96.23 $17,358.99
61 $17,358.99 $243.82 $0.00 $98.15 $17,700.96
62 $17,700.96 $243.82 $0.00 $100.08 $18,044.86
63 $18,044.86 $243.82 $0.00 $102.03 $18,390.71
64 $18,390.71 $243.82 $0.00 $103.98 $18,738.51
65 $18,738.51 $243.82 $0.00 $105.95 $19,088.28
66 $19,088.28 $243.82 $0.00 $107.93 $19,440.03
67 $19,440.03 $243.82 $0.00 $109.92 $19,793.77
68 $19,793.77 $243.82 $0.00 $111.92 $20,149.51
69 $20,149.51 $243.82 $0.00 $113.93 $20,507.26
70 $20,507.26 $243.82 $0.00 $115.95 $20,867.03
71 $20,867.03 $243.82 $0.00 $117.99 $21,228.84
72 $21,228.84 $243.82 $0.00 $120.03 $21,592.69
73 $21,592.69 $243.82 $0.00 $122.09 $21,958.60
74 $21,958.60 $243.82 $0.00 $124.16 $22,326.58
75 $22,326.58 $243.82 $0.00 $126.24 $22,696.64
76 $22,696.64 $243.82 $0.00 $128.33 $23,068.79
77 $23,068.79 $243.82 $0.00 $130.43 $23,443.04
78 $23,443.04 $243.82 $0.00 $132.55 $23,819.41
79 $23,819.41 $243.82 $0.00 $134.68 $24,197.91
80 $24,197.91 $243.82 $0.00 $136.82 $24,578.55
81 $24,578.55 $243.82 $0.00 $138.97 $24,961.34
82 $24,961.34 $243.82 $0.00 $141.14 $25,346.30
83 $25,346.30 $243.82 $0.00 $143.31 $25,733.43
84 $25,733.43 $243.82 $0.00 $145.50 $26,122.75
85 $26,122.75 $243.82 $0.00 $147.70 $26,514.27
86 $26,514.27 $243.82 $0.00 $149.92 $26,908.01
87 $26,908.01 $243.82 $0.00 $152.14 $27,303.97
88 $27,303.97 $243.82 $0.00 $154.38 $27,702.17
89 $27,702.17 $243.82 $0.00 $156.63 $28,102.62
90 $28,102.62 $243.82 $0.00 $158.90 $28,505.34
91 $28,505.34 $243.82 $0.00 $161.17 $28,910.33
92 $28,910.33 $243.82 $0.00 $163.46 $29,317.61
93 $29,317.61 $243.82 $0.00 $165.77 $29,727.20
94 $29,727.20 $243.82 $0.00 $168.08 $30,139.10
95 $30,139.10 $243.82 $0.00 $170.41 $30,553.33
96 $30,553.33 $243.82 $0.00 $172.75 $30,969.90
97 $30,969.90 $243.82 $0.00 $175.11 $31,388.83
98 $31,388.83 $243.82 $0.00 $177.48 $31,810.13
99 $31,810.13 $243.82 $0.00 $179.86 $32,233.81
100 $32,233.81 $243.82 $0.00 $182.25 $32,659.88
101 $32,659.88 $243.82 $0.00 $184.66 $33,088.36
102 $33,088.36 $243.82 $0.00 $187.09 $33,519.27
103 $33,519.27 $243.82 $0.00 $189.52 $33,952.61
104 $33,952.61 $243.82 $0.00 $191.97 $34,388.40
105 $34,388.40 $243.82 $0.00 $194.44 $34,826.66
106 $34,826.66 $243.82 $0.00 $196.91 $35,267.39
107 $35,267.39 $243.82 $0.00 $199.41 $35,710.62
108 $35,710.62 $243.82 $0.00 $201.91 $36,156.35
109 $36,156.35 $243.82 $0.00 $204.43 $36,604.60
110 $36,604.60 $243.82 $0.00 $206.97 $37,055.39
111 $37,055.39 $243.82 $0.00 $209.52 $37,508.73
112 $37,508.73 $243.82 $0.00 $212.08 $37,964.63
113 $37,964.63 $243.82 $0.00 $214.66 $38,423.11
114 $38,423.11 $243.82 $0.00 $217.25 $38,884.18
115 $38,884.18 $243.82 $0.00 $219.86 $39,347.86
116 $39,347.86 $243.82 $0.00 $222.48 $39,814.16
117 $39,814.16 $243.82 $0.00 $225.12 $40,283.10
118 $40,283.10 $243.82 $0.00 $227.77 $40,754.69
119 $40,754.69 $243.82 $0.00 $230.43 $41,228.94
120 $41,228.94 $243.82 $0.00 $233.11 $41,705.87
121 $41,705.87 $243.82 $0.00 $235.81 $42,185.50
122 $42,185.50 $243.82 $0.00 $238.52 $42,667.84
123 $42,667.84 $243.82 $0.00 $241.25 $43,152.91
124 $43,152.91 $243.82 $0.00 $243.99 $43,640.72
125 $43,640.72 $243.82 $0.00 $246.75 $44,131.29
126 $44,131.29 $243.82 $0.00 $249.52 $44,624.63
127 $44,624.63 $243.82 $0.00 $252.31 $45,120.76
128 $45,120.76 $243.82 $0.00 $255.12 $45,619.70
129 $45,619.70 $243.82 $0.00 $257.94 $46,121.46
130 $46,121.46 $243.82 $0.00 $260.78 $46,626.06
131 $46,626.06 $243.82 $0.00 $263.63 $47,133.51
132 $47,133.51 $243.82 $0.00 $266.50 $47,643.83
133 $47,643.83 $243.82 $0.00 $269.39 $48,157.04
134 $48,157.04 $243.82 $0.00 $272.29 $48,673.15
135 $48,673.15 $243.82 $0.00 $275.21 $49,192.18
136 $49,192.18 $243.82 $0.00 $278.14 $49,714.14
137 $49,714.14 $243.82 $0.00 $281.09 $50,239.05
138 $50,239.05 $243.82 $0.00 $284.06 $50,766.93
139 $50,766.93 $243.82 $0.00 $287.04 $51,297.79
140 $51,297.79 $243.82 $0.00 $290.05 $51,831.66
141 $51,831.66 $243.82 $0.00 $293.06 $52,368.54
142 $52,368.54 $243.82 $0.00 $296.10 $52,908.46
143 $52,908.46 $243.82 $0.00 $299.15 $53,451.43
144 $53,451.43 $243.82 $0.00 $302.22 $53,997.47
145 $53,997.47 $243.82 $0.00 $305.31 $54,546.60
146 $54,546.60 $243.82 $0.00 $308.41 $55,098.83
147 $55,098.83 $243.82 $0.00 $311.54 $55,654.19
148 $55,654.19 $243.82 $0.00 $314.68 $56,212.69
149 $56,212.69 $243.82 $0.00 $317.83 $56,774.34
150 $56,774.34 $243.82 $0.00 $321.01 $57,339.17
151 $57,339.17 $243.82 $0.00 $324.20 $57,907.19
152 $57,907.19 $243.82 $0.00 $327.42 $58,478.43
153 $58,478.43 $243.82 $0.00 $330.65 $59,052.90
154 $59,052.90 $243.82 $0.00 $333.89 $59,630.61
155 $59,630.61 $243.82 $0.00 $337.16 $60,211.59
156 $60,211.59 $243.82 $0.00 $340.45 $60,795.86
157 $60,795.86 $243.82 $0.00 $343.75 $61,383.43
158 $61,383.43 $243.82 $0.00 $347.07 $61,974.32
159 $61,974.32 $243.82 $0.00 $350.41 $62,568.55
160 $62,568.55 $243.82 $0.00 $353.77 $63,166.14
161 $63,166.14 $243.82 $0.00 $357.15 $63,767.11
162 $63,767.11 $243.82 $0.00 $360.55 $64,371.48
163 $64,371.48 $243.82 $0.00 $363.97 $64,979.27
164 $64,979.27 $243.82 $0.00 $367.40 $65,590.49
165 $65,590.49 $243.82 $0.00 $370.86 $66,205.17
166 $66,205.17 $243.82 $0.00 $374.33 $66,823.32
167 $66,823.32 $243.82 $0.00 $377.83 $67,444.97
168 $67,444.97 $243.82 $0.00 $381.34 $68,070.13
169 $68,070.13 $243.82 $0.00 $384.88 $68,698.83
170 $68,698.83 $243.82 $0.00 $388.43 $69,331.08
171 $69,331.08 $243.82 $0.00 $392.01 $69,966.91
172 $69,966.91 $243.82 $0.00 $395.60 $70,606.33
173 $70,606.33 $243.82 $0.00 $399.22 $71,249.37
174 $71,249.37 $243.82 $0.00 $402.85 $71,896.04
175 $71,896.04 $243.82 $0.00 $406.51 $72,546.37
176 $72,546.37 $243.82 $0.00 $410.19 $73,200.38
177 $73,200.38 $243.82 $0.00 $413.89 $73,858.09
178 $73,858.09 $243.82 $0.00 $417.60 $74,519.51
179 $74,519.51 $243.82 $0.00 $421.34 $75,184.67
180 $75,184.67 $243.82 $0.00 $425.11 $75,853.60
181 $75,853.60 $243.82 $0.00 $428.89 $76,526.31
182 $76,526.31 $243.82 $0.00 $432.69 $77,202.82
183 $77,202.82 $243.82 $0.00 $436.52 $77,883.16
184 $77,883.16 $243.82 $0.00 $440.36 $78,567.34
185 $78,567.34 $243.82 $0.00 $444.23 $79,255.39
186 $79,255.39 $243.82 $0.00 $448.12 $79,947.33
187 $79,947.33 $243.82 $0.00 $452.03 $80,643.18
188 $80,643.18 $243.82 $0.00 $455.97 $81,342.97
189 $81,342.97 $243.82 $0.00 $459.92 $82,046.71
190 $82,046.71 $243.82 $0.00 $463.90 $82,754.43
191 $82,754.43 $243.82 $0.00 $467.91 $83,466.16
192 $83,466.16 $243.82 $0.00 $471.93 $84,181.91
193 $84,181.91 $243.82 $0.00 $475.98 $84,901.71
194 $84,901.71 $243.82 $0.00 $480.05 $85,625.58
195 $85,625.58 $243.82 $0.00 $484.14 $86,353.54
196 $86,353.54 $243.82 $0.00 $488.26 $87,085.62
197 $87,085.62 $243.82 $0.00 $492.39 $87,821.83
198 $87,821.83 $243.82 $0.00 $496.56 $88,562.21
199 $88,562.21 $243.82 $0.00 $500.74 $89,306.77
200 $89,306.77 $243.82 $0.00 $504.95 $90,055.54
201 $90,055.54 $243.82 $0.00 $509.19 $90,808.55
202 $90,808.55 $243.82 $0.00 $513.44 $91,565.81
203 $91,565.81 $243.82 $0.00 $517.73 $92,327.36
204 $92,327.36 $243.82 $0.00 $522.03 $93,093.21
205 $93,093.21 $243.82 $0.00 $526.36 $93,863.39
206 $93,863.39 $243.82 $0.00 $530.72 $94,637.93
207 $94,637.93 $243.82 $0.00 $535.10 $95,416.85
208 $95,416.85 $243.82 $0.00 $539.50 $96,200.17
209 $96,200.17 $243.82 $0.00 $543.93 $96,987.92
210 $96,987.92 $243.82 $0.00 $548.38 $97,780.12
211 $97,780.12 $243.82 $0.00 $552.86 $98,576.80
212 $98,576.80 $243.82 $0.00 $557.37 $99,377.99
213 $99,377.99 $243.82 $0.00 $561.90 $100,183.71
214 $100,183.71 $243.82 $0.00 $566.45 $100,993.98
215 $100,993.98 $243.82 $0.00 $571.03 $101,808.83
216 $101,808.83 $243.82 $0.00 $575.64 $102,628.29
217 $102,628.29 $243.82 $53,523.21 $580.28 $49,929.18
218 $49,929.18 $243.82 $0.00 $282.31 $50,455.31
219 $50,455.31 $243.82 $0.00 $285.28 $50,984.41
220 $50,984.41 $243.82 $0.00 $288.27 $51,516.50
221 $51,516.50 $243.82 $0.00 $291.28 $52,051.60
222 $52,051.60 $243.82 $0.00 $294.31 $52,589.73
223 $52,589.73 $243.82 $0.00 $297.35 $53,130.90
224 $53,130.90 $243.82 $0.00 $300.41 $53,675.13
225 $53,675.13 $243.82 $0.00 $303.49 $54,222.44
226 $54,222.44 $243.82 $0.00 $306.58 $54,772.84
227 $54,772.84 $243.82 $0.00 $309.69 $55,326.35
228 $55,326.35 $243.82 $0.00 $312.82 $55,882.99
229 $55,882.99 $0.00 $56,199.37 $315.97 ($0.41)