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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$53,776
Monthly savings required$239

How much will it cost to send your child to Berks Technical Institute in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $107,551.81 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $238.99 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$21,800.00
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 $238.99 $0.00 $0.00 $238.99
2 $238.99 $238.99 $0.00 $1.35 $479.33
3 $479.33 $238.99 $0.00 $2.71 $721.03
4 $721.03 $238.99 $0.00 $4.08 $964.10
5 $964.10 $238.99 $0.00 $5.45 $1,208.54
6 $1,208.54 $238.99 $0.00 $6.83 $1,454.36
7 $1,454.36 $238.99 $0.00 $8.22 $1,701.57
8 $1,701.57 $238.99 $0.00 $9.62 $1,950.18
9 $1,950.18 $238.99 $0.00 $11.03 $2,200.20
10 $2,200.20 $238.99 $0.00 $12.44 $2,451.63
11 $2,451.63 $238.99 $0.00 $13.86 $2,704.48
12 $2,704.48 $238.99 $0.00 $15.29 $2,958.76
13 $2,958.76 $238.99 $0.00 $16.73 $3,214.48
14 $3,214.48 $238.99 $0.00 $18.18 $3,471.65
15 $3,471.65 $238.99 $0.00 $19.63 $3,730.27
16 $3,730.27 $238.99 $0.00 $21.09 $3,990.35
17 $3,990.35 $238.99 $0.00 $22.56 $4,251.90
18 $4,251.90 $238.99 $0.00 $24.04 $4,514.93
19 $4,514.93 $238.99 $0.00 $25.53 $4,779.45
20 $4,779.45 $238.99 $0.00 $27.02 $5,045.46
21 $5,045.46 $238.99 $0.00 $28.53 $5,312.98
22 $5,312.98 $238.99 $0.00 $30.04 $5,582.01
23 $5,582.01 $238.99 $0.00 $31.56 $5,852.56
24 $5,852.56 $238.99 $0.00 $33.09 $6,124.64
25 $6,124.64 $238.99 $0.00 $34.63 $6,398.26
26 $6,398.26 $238.99 $0.00 $36.18 $6,673.43
27 $6,673.43 $238.99 $0.00 $37.73 $6,950.15
28 $6,950.15 $238.99 $0.00 $39.30 $7,228.44
29 $7,228.44 $238.99 $0.00 $40.87 $7,508.30
30 $7,508.30 $238.99 $0.00 $42.45 $7,789.74
31 $7,789.74 $238.99 $0.00 $44.04 $8,072.77
32 $8,072.77 $238.99 $0.00 $45.64 $8,357.40
33 $8,357.40 $238.99 $0.00 $47.25 $8,643.64
34 $8,643.64 $238.99 $0.00 $48.87 $8,931.50
35 $8,931.50 $238.99 $0.00 $50.50 $9,220.99
36 $9,220.99 $238.99 $0.00 $52.14 $9,512.12
37 $9,512.12 $238.99 $0.00 $53.78 $9,804.89
38 $9,804.89 $238.99 $0.00 $55.44 $10,099.32
39 $10,099.32 $238.99 $0.00 $57.10 $10,395.41
40 $10,395.41 $238.99 $0.00 $58.78 $10,693.18
41 $10,693.18 $238.99 $0.00 $60.46 $10,992.63
42 $10,992.63 $238.99 $0.00 $62.15 $11,293.77
43 $11,293.77 $238.99 $0.00 $63.86 $11,596.62
44 $11,596.62 $238.99 $0.00 $65.57 $11,901.18
45 $11,901.18 $238.99 $0.00 $67.29 $12,207.46
46 $12,207.46 $238.99 $0.00 $69.02 $12,515.47
47 $12,515.47 $238.99 $0.00 $70.76 $12,825.22
48 $12,825.22 $238.99 $0.00 $72.52 $13,136.73
49 $13,136.73 $238.99 $0.00 $74.28 $13,450.00
50 $13,450.00 $238.99 $0.00 $76.05 $13,765.04
51 $13,765.04 $238.99 $0.00 $77.83 $14,081.86
52 $14,081.86 $238.99 $0.00 $79.62 $14,400.47
53 $14,400.47 $238.99 $0.00 $81.42 $14,720.88
54 $14,720.88 $238.99 $0.00 $83.23 $15,043.10
55 $15,043.10 $238.99 $0.00 $85.06 $15,367.15
56 $15,367.15 $238.99 $0.00 $86.89 $15,693.03
57 $15,693.03 $238.99 $0.00 $88.73 $16,020.75
58 $16,020.75 $238.99 $0.00 $90.58 $16,350.32
59 $16,350.32 $238.99 $0.00 $92.45 $16,681.76
60 $16,681.76 $238.99 $0.00 $94.32 $17,015.07
61 $17,015.07 $238.99 $0.00 $96.21 $17,350.27
62 $17,350.27 $238.99 $0.00 $98.10 $17,687.36
63 $17,687.36 $238.99 $0.00 $100.01 $18,026.36
64 $18,026.36 $238.99 $0.00 $101.92 $18,367.27
65 $18,367.27 $238.99 $0.00 $103.85 $18,710.11
66 $18,710.11 $238.99 $0.00 $105.79 $19,054.89
67 $19,054.89 $238.99 $0.00 $107.74 $19,401.62
68 $19,401.62 $238.99 $0.00 $109.70 $19,750.31
69 $19,750.31 $238.99 $0.00 $111.67 $20,100.97
70 $20,100.97 $238.99 $0.00 $113.65 $20,453.61
71 $20,453.61 $238.99 $0.00 $115.65 $20,808.25
72 $20,808.25 $238.99 $0.00 $117.65 $21,164.89
73 $21,164.89 $238.99 $0.00 $119.67 $21,523.55
74 $21,523.55 $238.99 $0.00 $121.70 $21,884.24
75 $21,884.24 $238.99 $0.00 $123.74 $22,246.97
76 $22,246.97 $238.99 $0.00 $125.79 $22,611.75
77 $22,611.75 $238.99 $0.00 $127.85 $22,978.59
78 $22,978.59 $238.99 $0.00 $129.92 $23,347.50
79 $23,347.50 $238.99 $0.00 $132.01 $23,718.50
80 $23,718.50 $238.99 $0.00 $134.11 $24,091.60
81 $24,091.60 $238.99 $0.00 $136.22 $24,466.81
82 $24,466.81 $238.99 $0.00 $138.34 $24,844.14
83 $24,844.14 $238.99 $0.00 $140.47 $25,223.60
84 $25,223.60 $238.99 $0.00 $142.62 $25,605.21
85 $25,605.21 $238.99 $0.00 $144.78 $25,988.98
86 $25,988.98 $238.99 $0.00 $146.95 $26,374.92
87 $26,374.92 $238.99 $0.00 $149.13 $26,763.04
88 $26,763.04 $238.99 $0.00 $151.32 $27,153.35
89 $27,153.35 $238.99 $0.00 $153.53 $27,545.87
90 $27,545.87 $238.99 $0.00 $155.75 $27,940.61
91 $27,940.61 $238.99 $0.00 $157.98 $28,337.58
92 $28,337.58 $238.99 $0.00 $160.22 $28,736.79
93 $28,736.79 $238.99 $0.00 $162.48 $29,138.26
94 $29,138.26 $238.99 $0.00 $164.75 $29,542.00
95 $29,542.00 $238.99 $0.00 $167.03 $29,948.02
96 $29,948.02 $238.99 $0.00 $169.33 $30,356.34
97 $30,356.34 $238.99 $0.00 $171.64 $30,766.97
98 $30,766.97 $238.99 $0.00 $173.96 $31,179.92
99 $31,179.92 $238.99 $0.00 $176.30 $31,595.21
100 $31,595.21 $238.99 $0.00 $178.64 $32,012.84
101 $32,012.84 $238.99 $0.00 $181.01 $32,432.84
102 $32,432.84 $238.99 $0.00 $183.38 $32,855.21
103 $32,855.21 $238.99 $0.00 $185.77 $33,279.97
104 $33,279.97 $238.99 $0.00 $188.17 $33,707.13
105 $33,707.13 $238.99 $0.00 $190.59 $34,136.71
106 $34,136.71 $238.99 $0.00 $193.01 $34,568.71
107 $34,568.71 $238.99 $0.00 $195.46 $35,003.16
108 $35,003.16 $238.99 $0.00 $197.91 $35,440.06
109 $35,440.06 $238.99 $0.00 $200.38 $35,879.43
110 $35,879.43 $238.99 $0.00 $202.87 $36,321.29
111 $36,321.29 $238.99 $0.00 $205.37 $36,765.65
112 $36,765.65 $238.99 $0.00 $207.88 $37,212.52
113 $37,212.52 $238.99 $0.00 $210.40 $37,661.91
114 $37,661.91 $238.99 $0.00 $212.95 $38,113.85
115 $38,113.85 $238.99 $0.00 $215.50 $38,568.34
116 $38,568.34 $238.99 $0.00 $218.07 $39,025.40
117 $39,025.40 $238.99 $0.00 $220.66 $39,485.05
118 $39,485.05 $238.99 $0.00 $223.25 $39,947.29
119 $39,947.29 $238.99 $0.00 $225.87 $40,412.15
120 $40,412.15 $238.99 $0.00 $228.50 $40,879.64
121 $40,879.64 $238.99 $0.00 $231.14 $41,349.77
122 $41,349.77 $238.99 $0.00 $233.80 $41,822.56
123 $41,822.56 $238.99 $0.00 $236.47 $42,298.02
124 $42,298.02 $238.99 $0.00 $239.16 $42,776.17
125 $42,776.17 $238.99 $0.00 $241.86 $43,257.02
126 $43,257.02 $238.99 $0.00 $244.58 $43,740.59
127 $43,740.59 $238.99 $0.00 $247.32 $44,226.90
128 $44,226.90 $238.99 $0.00 $250.07 $44,715.96
129 $44,715.96 $238.99 $0.00 $252.83 $45,207.78
130 $45,207.78 $238.99 $0.00 $255.61 $45,702.38
131 $45,702.38 $238.99 $0.00 $258.41 $46,199.78
132 $46,199.78 $238.99 $0.00 $261.22 $46,699.99
133 $46,699.99 $238.99 $0.00 $264.05 $47,203.03
134 $47,203.03 $238.99 $0.00 $266.89 $47,708.91
135 $47,708.91 $238.99 $0.00 $269.75 $48,217.65
136 $48,217.65 $238.99 $0.00 $272.63 $48,729.27
137 $48,729.27 $238.99 $0.00 $275.52 $49,243.78
138 $49,243.78 $238.99 $0.00 $278.43 $49,761.20
139 $49,761.20 $238.99 $0.00 $281.36 $50,281.55
140 $50,281.55 $238.99 $0.00 $284.30 $50,804.84
141 $50,804.84 $238.99 $0.00 $287.26 $51,331.09
142 $51,331.09 $238.99 $0.00 $290.23 $51,860.31
143 $51,860.31 $238.99 $0.00 $293.23 $52,392.53
144 $52,392.53 $238.99 $0.00 $296.23 $52,927.75
145 $52,927.75 $238.99 $0.00 $299.26 $53,466.00
146 $53,466.00 $238.99 $0.00 $302.30 $54,007.29
147 $54,007.29 $238.99 $0.00 $305.37 $54,551.65
148 $54,551.65 $238.99 $0.00 $308.44 $55,099.08
149 $55,099.08 $238.99 $0.00 $311.54 $55,649.61
150 $55,649.61 $238.99 $0.00 $314.65 $56,203.25
151 $56,203.25 $238.99 $0.00 $317.78 $56,760.02
152 $56,760.02 $238.99 $0.00 $320.93 $57,319.94
153 $57,319.94 $238.99 $0.00 $324.10 $57,883.03
154 $57,883.03 $238.99 $0.00 $327.28 $58,449.30
155 $58,449.30 $238.99 $0.00 $330.48 $59,018.77
156 $59,018.77 $238.99 $0.00 $333.70 $59,591.46
157 $59,591.46 $238.99 $0.00 $336.94 $60,167.39
158 $60,167.39 $238.99 $0.00 $340.20 $60,746.58
159 $60,746.58 $238.99 $0.00 $343.47 $61,329.04
160 $61,329.04 $238.99 $0.00 $346.76 $61,914.79
161 $61,914.79 $238.99 $0.00 $350.08 $62,503.86
162 $62,503.86 $238.99 $0.00 $353.41 $63,096.26
163 $63,096.26 $238.99 $0.00 $356.76 $63,692.01
164 $63,692.01 $238.99 $0.00 $360.12 $64,291.12
165 $64,291.12 $238.99 $0.00 $363.51 $64,893.62
166 $64,893.62 $238.99 $0.00 $366.92 $65,499.53
167 $65,499.53 $238.99 $0.00 $370.34 $66,108.86
168 $66,108.86 $238.99 $0.00 $373.79 $66,721.64
169 $66,721.64 $238.99 $0.00 $377.25 $67,337.88
170 $67,337.88 $238.99 $0.00 $380.74 $67,957.61
171 $67,957.61 $238.99 $0.00 $384.24 $68,580.84
172 $68,580.84 $238.99 $0.00 $387.77 $69,207.60
173 $69,207.60 $238.99 $0.00 $391.31 $69,837.90
174 $69,837.90 $238.99 $0.00 $394.87 $70,471.76
175 $70,471.76 $238.99 $0.00 $398.46 $71,109.21
176 $71,109.21 $238.99 $0.00 $402.06 $71,750.26
177 $71,750.26 $238.99 $0.00 $405.69 $72,394.94
178 $72,394.94 $238.99 $0.00 $409.33 $73,043.26
179 $73,043.26 $238.99 $0.00 $413.00 $73,695.25
180 $73,695.25 $238.99 $0.00 $416.68 $74,350.92
181 $74,350.92 $238.99 $0.00 $420.39 $75,010.30
182 $75,010.30 $238.99 $0.00 $424.12 $75,673.41
183 $75,673.41 $238.99 $0.00 $427.87 $76,340.27
184 $76,340.27 $238.99 $0.00 $431.64 $77,010.90
185 $77,010.90 $238.99 $0.00 $435.43 $77,685.32
186 $77,685.32 $238.99 $0.00 $439.24 $78,363.55
187 $78,363.55 $238.99 $0.00 $443.08 $79,045.62
188 $79,045.62 $238.99 $0.00 $446.94 $79,731.55
189 $79,731.55 $238.99 $0.00 $450.81 $80,421.35
190 $80,421.35 $238.99 $0.00 $454.71 $81,115.05
191 $81,115.05 $238.99 $0.00 $458.64 $81,812.68
192 $81,812.68 $238.99 $0.00 $462.58 $82,514.25
193 $82,514.25 $238.99 $0.00 $466.55 $83,219.79
194 $83,219.79 $238.99 $0.00 $470.54 $83,929.32
195 $83,929.32 $238.99 $0.00 $474.55 $84,642.86
196 $84,642.86 $238.99 $0.00 $478.58 $85,360.43
197 $85,360.43 $238.99 $0.00 $482.64 $86,082.06
198 $86,082.06 $238.99 $0.00 $486.72 $86,807.77
199 $86,807.77 $238.99 $0.00 $490.82 $87,537.58
200 $87,537.58 $238.99 $0.00 $494.95 $88,271.52
201 $88,271.52 $238.99 $0.00 $499.10 $89,009.61
202 $89,009.61 $238.99 $0.00 $503.27 $89,751.87
203 $89,751.87 $238.99 $0.00 $507.47 $90,498.33
204 $90,498.33 $238.99 $0.00 $511.69 $91,249.01
205 $91,249.01 $238.99 $0.00 $515.94 $92,003.94
206 $92,003.94 $238.99 $0.00 $520.20 $92,763.13
207 $92,763.13 $238.99 $0.00 $524.50 $93,526.62
208 $93,526.62 $238.99 $0.00 $528.81 $94,294.42
209 $94,294.42 $238.99 $0.00 $533.15 $95,066.56
210 $95,066.56 $238.99 $0.00 $537.52 $95,843.07
211 $95,843.07 $238.99 $0.00 $541.91 $96,623.97
212 $96,623.97 $238.99 $0.00 $546.33 $97,409.29
213 $97,409.29 $238.99 $0.00 $550.77 $98,199.05
214 $98,199.05 $238.99 $0.00 $555.23 $98,993.27
215 $98,993.27 $238.99 $0.00 $559.72 $99,791.98
216 $99,791.98 $238.99 $0.00 $564.24 $100,595.21
217 $100,595.21 $238.99 $52,464.30 $568.78 $48,938.68
218 $48,938.68 $238.99 $0.00 $276.71 $49,454.38
219 $49,454.38 $238.99 $0.00 $279.62 $49,972.99
220 $49,972.99 $238.99 $0.00 $282.55 $50,494.53
221 $50,494.53 $238.99 $0.00 $285.50 $51,019.02
222 $51,019.02 $238.99 $0.00 $288.47 $51,546.48
223 $51,546.48 $238.99 $0.00 $291.45 $52,076.92
224 $52,076.92 $238.99 $0.00 $294.45 $52,610.36
225 $52,610.36 $238.99 $0.00 $297.47 $53,146.82
226 $53,146.82 $238.99 $0.00 $300.50 $53,686.31
227 $53,686.31 $238.99 $0.00 $303.55 $54,228.85
228 $54,228.85 $238.99 $0.00 $306.62 $54,774.46
229 $54,774.46 $0.00 $55,087.51 $309.70 ($3.35)