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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$75,138
Monthly savings required$334

How much will it cost to send your child to Lackawanna College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $150,276.52 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $333.94 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$30,460.00
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 $333.94 $0.00 $0.00 $333.94
2 $333.94 $333.94 $0.00 $1.89 $669.77
3 $669.77 $333.94 $0.00 $3.79 $1,007.50
4 $1,007.50 $333.94 $0.00 $5.70 $1,347.14
5 $1,347.14 $333.94 $0.00 $7.62 $1,688.70
6 $1,688.70 $333.94 $0.00 $9.55 $2,032.19
7 $2,032.19 $333.94 $0.00 $11.49 $2,377.62
8 $2,377.62 $333.94 $0.00 $13.44 $2,725.00
9 $2,725.00 $333.94 $0.00 $15.41 $3,074.35
10 $3,074.35 $333.94 $0.00 $17.38 $3,425.67
11 $3,425.67 $333.94 $0.00 $19.37 $3,778.98
12 $3,778.98 $333.94 $0.00 $21.37 $4,134.29
13 $4,134.29 $333.94 $0.00 $23.38 $4,491.61
14 $4,491.61 $333.94 $0.00 $25.40 $4,850.95
15 $4,850.95 $333.94 $0.00 $27.43 $5,212.32
16 $5,212.32 $333.94 $0.00 $29.47 $5,575.73
17 $5,575.73 $333.94 $0.00 $31.53 $5,941.20
18 $5,941.20 $333.94 $0.00 $33.59 $6,308.73
19 $6,308.73 $333.94 $0.00 $35.67 $6,678.34
20 $6,678.34 $333.94 $0.00 $37.76 $7,050.04
21 $7,050.04 $333.94 $0.00 $39.86 $7,423.84
22 $7,423.84 $333.94 $0.00 $41.98 $7,799.76
23 $7,799.76 $333.94 $0.00 $44.10 $8,177.80
24 $8,177.80 $333.94 $0.00 $46.24 $8,557.98
25 $8,557.98 $333.94 $0.00 $48.39 $8,940.31
26 $8,940.31 $333.94 $0.00 $50.55 $9,324.80
27 $9,324.80 $333.94 $0.00 $52.72 $9,711.46
28 $9,711.46 $333.94 $0.00 $54.91 $10,100.31
29 $10,100.31 $333.94 $0.00 $57.11 $10,491.36
30 $10,491.36 $333.94 $0.00 $59.32 $10,884.62
31 $10,884.62 $333.94 $0.00 $61.54 $11,280.10
32 $11,280.10 $333.94 $0.00 $63.78 $11,677.82
33 $11,677.82 $333.94 $0.00 $66.03 $12,077.79
34 $12,077.79 $333.94 $0.00 $68.29 $12,480.02
35 $12,480.02 $333.94 $0.00 $70.56 $12,884.52
36 $12,884.52 $333.94 $0.00 $72.85 $13,291.31
37 $13,291.31 $333.94 $0.00 $75.15 $13,700.40
38 $13,700.40 $333.94 $0.00 $77.46 $14,111.80
39 $14,111.80 $333.94 $0.00 $79.79 $14,525.53
40 $14,525.53 $333.94 $0.00 $82.13 $14,941.60
41 $14,941.60 $333.94 $0.00 $84.48 $15,360.02
42 $15,360.02 $333.94 $0.00 $86.85 $15,780.81
43 $15,780.81 $333.94 $0.00 $89.23 $16,203.98
44 $16,203.98 $333.94 $0.00 $91.62 $16,629.54
45 $16,629.54 $333.94 $0.00 $94.03 $17,057.51
46 $17,057.51 $333.94 $0.00 $96.45 $17,487.90
47 $17,487.90 $333.94 $0.00 $98.88 $17,920.72
48 $17,920.72 $333.94 $0.00 $101.33 $18,355.99
49 $18,355.99 $333.94 $0.00 $103.79 $18,793.72
50 $18,793.72 $333.94 $0.00 $106.26 $19,233.92
51 $19,233.92 $333.94 $0.00 $108.75 $19,676.61
52 $19,676.61 $333.94 $0.00 $111.25 $20,121.80
53 $20,121.80 $333.94 $0.00 $113.77 $20,569.51
54 $20,569.51 $333.94 $0.00 $116.30 $21,019.75
55 $21,019.75 $333.94 $0.00 $118.85 $21,472.54
56 $21,472.54 $333.94 $0.00 $121.41 $21,927.89
57 $21,927.89 $333.94 $0.00 $123.98 $22,385.81
58 $22,385.81 $333.94 $0.00 $126.57 $22,846.32
59 $22,846.32 $333.94 $0.00 $129.18 $23,309.44
60 $23,309.44 $333.94 $0.00 $131.79 $23,775.17
61 $23,775.17 $333.94 $0.00 $134.43 $24,243.54
62 $24,243.54 $333.94 $0.00 $137.08 $24,714.56
63 $24,714.56 $333.94 $0.00 $139.74 $25,188.24
64 $25,188.24 $333.94 $0.00 $142.42 $25,664.60
65 $25,664.60 $333.94 $0.00 $145.11 $26,143.65
66 $26,143.65 $333.94 $0.00 $147.82 $26,625.41
67 $26,625.41 $333.94 $0.00 $150.54 $27,109.89
68 $27,109.89 $333.94 $0.00 $153.28 $27,597.11
69 $27,597.11 $333.94 $0.00 $156.04 $28,087.09
70 $28,087.09 $333.94 $0.00 $158.81 $28,579.84
71 $28,579.84 $333.94 $0.00 $161.59 $29,075.37
72 $29,075.37 $333.94 $0.00 $164.40 $29,573.71
73 $29,573.71 $333.94 $0.00 $167.21 $30,074.86
74 $30,074.86 $333.94 $0.00 $170.05 $30,578.85
75 $30,578.85 $333.94 $0.00 $172.90 $31,085.69
76 $31,085.69 $333.94 $0.00 $175.76 $31,595.39
77 $31,595.39 $333.94 $0.00 $178.64 $32,107.97
78 $32,107.97 $333.94 $0.00 $181.54 $32,623.45
79 $32,623.45 $333.94 $0.00 $184.46 $33,141.85
80 $33,141.85 $333.94 $0.00 $187.39 $33,663.18
81 $33,663.18 $333.94 $0.00 $190.34 $34,187.46
82 $34,187.46 $333.94 $0.00 $193.30 $34,714.70
83 $34,714.70 $333.94 $0.00 $196.28 $35,244.92
84 $35,244.92 $333.94 $0.00 $199.28 $35,778.14
85 $35,778.14 $333.94 $0.00 $202.29 $36,314.37
86 $36,314.37 $333.94 $0.00 $205.33 $36,853.64
87 $36,853.64 $333.94 $0.00 $208.38 $37,395.96
88 $37,395.96 $333.94 $0.00 $211.44 $37,941.34
89 $37,941.34 $333.94 $0.00 $214.53 $38,489.81
90 $38,489.81 $333.94 $0.00 $217.63 $39,041.38
91 $39,041.38 $333.94 $0.00 $220.75 $39,596.07
92 $39,596.07 $333.94 $0.00 $223.88 $40,153.89
93 $40,153.89 $333.94 $0.00 $227.04 $40,714.87
94 $40,714.87 $333.94 $0.00 $230.21 $41,279.02
95 $41,279.02 $333.94 $0.00 $233.40 $41,846.36
96 $41,846.36 $333.94 $0.00 $236.61 $42,416.91
97 $42,416.91 $333.94 $0.00 $239.83 $42,990.68
98 $42,990.68 $333.94 $0.00 $243.08 $43,567.70
99 $43,567.70 $333.94 $0.00 $246.34 $44,147.98
100 $44,147.98 $333.94 $0.00 $249.62 $44,731.54
101 $44,731.54 $333.94 $0.00 $252.92 $45,318.40
102 $45,318.40 $333.94 $0.00 $256.24 $45,908.58
103 $45,908.58 $333.94 $0.00 $259.57 $46,502.09
104 $46,502.09 $333.94 $0.00 $262.93 $47,098.96
105 $47,098.96 $333.94 $0.00 $266.30 $47,699.20
106 $47,699.20 $333.94 $0.00 $269.70 $48,302.84
107 $48,302.84 $333.94 $0.00 $273.11 $48,909.89
108 $48,909.89 $333.94 $0.00 $276.54 $49,520.37
109 $49,520.37 $333.94 $0.00 $280.00 $50,134.31
110 $50,134.31 $333.94 $0.00 $283.47 $50,751.72
111 $50,751.72 $333.94 $0.00 $286.96 $51,372.62
112 $51,372.62 $333.94 $0.00 $290.47 $51,997.03
113 $51,997.03 $333.94 $0.00 $294.00 $52,624.97
114 $52,624.97 $333.94 $0.00 $297.55 $53,256.46
115 $53,256.46 $333.94 $0.00 $301.12 $53,891.52
116 $53,891.52 $333.94 $0.00 $304.71 $54,530.17
117 $54,530.17 $333.94 $0.00 $308.32 $55,172.43
118 $55,172.43 $333.94 $0.00 $311.95 $55,818.32
119 $55,818.32 $333.94 $0.00 $315.60 $56,467.86
120 $56,467.86 $333.94 $0.00 $319.28 $57,121.08
121 $57,121.08 $333.94 $0.00 $322.97 $57,777.99
122 $57,777.99 $333.94 $0.00 $326.69 $58,438.62
123 $58,438.62 $333.94 $0.00 $330.42 $59,102.98
124 $59,102.98 $333.94 $0.00 $334.18 $59,771.10
125 $59,771.10 $333.94 $0.00 $337.95 $60,442.99
126 $60,442.99 $333.94 $0.00 $341.75 $61,118.68
127 $61,118.68 $333.94 $0.00 $345.57 $61,798.19
128 $61,798.19 $333.94 $0.00 $349.42 $62,481.55
129 $62,481.55 $333.94 $0.00 $353.28 $63,168.77
130 $63,168.77 $333.94 $0.00 $357.17 $63,859.88
131 $63,859.88 $333.94 $0.00 $361.07 $64,554.89
132 $64,554.89 $333.94 $0.00 $365.00 $65,253.83
133 $65,253.83 $333.94 $0.00 $368.95 $65,956.72
134 $65,956.72 $333.94 $0.00 $372.93 $66,663.59
135 $66,663.59 $333.94 $0.00 $376.93 $67,374.46
136 $67,374.46 $333.94 $0.00 $380.94 $68,089.34
137 $68,089.34 $333.94 $0.00 $384.99 $68,808.27
138 $68,808.27 $333.94 $0.00 $389.05 $69,531.26
139 $69,531.26 $333.94 $0.00 $393.14 $70,258.34
140 $70,258.34 $333.94 $0.00 $397.25 $70,989.53
141 $70,989.53 $333.94 $0.00 $401.39 $71,724.86
142 $71,724.86 $333.94 $0.00 $405.54 $72,464.34
143 $72,464.34 $333.94 $0.00 $409.72 $73,208.00
144 $73,208.00 $333.94 $0.00 $413.93 $73,955.87
145 $73,955.87 $333.94 $0.00 $418.16 $74,707.97
146 $74,707.97 $333.94 $0.00 $422.41 $75,464.32
147 $75,464.32 $333.94 $0.00 $426.69 $76,224.95
148 $76,224.95 $333.94 $0.00 $430.99 $76,989.88
149 $76,989.88 $333.94 $0.00 $435.31 $77,759.13
150 $77,759.13 $333.94 $0.00 $439.66 $78,532.73
151 $78,532.73 $333.94 $0.00 $444.04 $79,310.71
152 $79,310.71 $333.94 $0.00 $448.43 $80,093.08
153 $80,093.08 $333.94 $0.00 $452.86 $80,879.88
154 $80,879.88 $333.94 $0.00 $457.31 $81,671.13
155 $81,671.13 $333.94 $0.00 $461.78 $82,466.85
156 $82,466.85 $333.94 $0.00 $466.28 $83,267.07
157 $83,267.07 $333.94 $0.00 $470.80 $84,071.81
158 $84,071.81 $333.94 $0.00 $475.35 $84,881.10
159 $84,881.10 $333.94 $0.00 $479.93 $85,694.97
160 $85,694.97 $333.94 $0.00 $484.53 $86,513.44
161 $86,513.44 $333.94 $0.00 $489.16 $87,336.54
162 $87,336.54 $333.94 $0.00 $493.81 $88,164.29
163 $88,164.29 $333.94 $0.00 $498.49 $88,996.72
164 $88,996.72 $333.94 $0.00 $503.20 $89,833.86
165 $89,833.86 $333.94 $0.00 $507.93 $90,675.73
166 $90,675.73 $333.94 $0.00 $512.69 $91,522.36
167 $91,522.36 $333.94 $0.00 $517.48 $92,373.78
168 $92,373.78 $333.94 $0.00 $522.29 $93,230.01
169 $93,230.01 $333.94 $0.00 $527.14 $94,091.09
170 $94,091.09 $333.94 $0.00 $532.00 $94,957.03
171 $94,957.03 $333.94 $0.00 $536.90 $95,827.87
172 $95,827.87 $333.94 $0.00 $541.82 $96,703.63
173 $96,703.63 $333.94 $0.00 $546.78 $97,584.35
174 $97,584.35 $333.94 $0.00 $551.76 $98,470.05
175 $98,470.05 $333.94 $0.00 $556.76 $99,360.75
176 $99,360.75 $333.94 $0.00 $561.80 $100,256.49
177 $100,256.49 $333.94 $0.00 $566.86 $101,157.29
178 $101,157.29 $333.94 $0.00 $571.96 $102,063.19
179 $102,063.19 $333.94 $0.00 $577.08 $102,974.21
180 $102,974.21 $333.94 $0.00 $582.23 $103,890.38
181 $103,890.38 $333.94 $0.00 $587.41 $104,811.73
182 $104,811.73 $333.94 $0.00 $592.62 $105,738.29
183 $105,738.29 $333.94 $0.00 $597.86 $106,670.09
184 $106,670.09 $333.94 $0.00 $603.13 $107,607.16
185 $107,607.16 $333.94 $0.00 $608.43 $108,549.53
186 $108,549.53 $333.94 $0.00 $613.75 $109,497.22
187 $109,497.22 $333.94 $0.00 $619.11 $110,450.27
188 $110,450.27 $333.94 $0.00 $624.50 $111,408.71
189 $111,408.71 $333.94 $0.00 $629.92 $112,372.57
190 $112,372.57 $333.94 $0.00 $635.37 $113,341.88
191 $113,341.88 $333.94 $0.00 $640.85 $114,316.67
192 $114,316.67 $333.94 $0.00 $646.36 $115,296.97
193 $115,296.97 $333.94 $0.00 $651.91 $116,282.82
194 $116,282.82 $333.94 $0.00 $657.48 $117,274.24
195 $117,274.24 $333.94 $0.00 $663.09 $118,271.27
196 $118,271.27 $333.94 $0.00 $668.72 $119,273.93
197 $119,273.93 $333.94 $0.00 $674.39 $120,282.26
198 $120,282.26 $333.94 $0.00 $680.09 $121,296.29
199 $121,296.29 $333.94 $0.00 $685.83 $122,316.06
200 $122,316.06 $333.94 $0.00 $691.59 $123,341.59
201 $123,341.59 $333.94 $0.00 $697.39 $124,372.92
202 $124,372.92 $333.94 $0.00 $703.22 $125,410.08
203 $125,410.08 $333.94 $0.00 $709.09 $126,453.11
204 $126,453.11 $333.94 $0.00 $714.98 $127,502.03
205 $127,502.03 $333.94 $0.00 $720.92 $128,556.89
206 $128,556.89 $333.94 $0.00 $726.88 $129,617.71
207 $129,617.71 $333.94 $0.00 $732.88 $130,684.53
208 $130,684.53 $333.94 $0.00 $738.91 $131,757.38
209 $131,757.38 $333.94 $0.00 $744.98 $132,836.30
210 $132,836.30 $333.94 $0.00 $751.08 $133,921.32
211 $133,921.32 $333.94 $0.00 $757.21 $135,012.47
212 $135,012.47 $333.94 $0.00 $763.38 $136,109.79
213 $136,109.79 $333.94 $0.00 $769.58 $137,213.31
214 $137,213.31 $333.94 $0.00 $775.82 $138,323.07
215 $138,323.07 $333.94 $0.00 $782.10 $139,439.11
216 $139,439.11 $333.94 $0.00 $788.41 $140,561.46
217 $140,561.46 $333.94 $73,305.62 $794.75 $68,384.53
218 $68,384.53 $333.94 $0.00 $386.66 $69,105.13
219 $69,105.13 $333.94 $0.00 $390.73 $69,829.80
220 $69,829.80 $333.94 $0.00 $394.83 $70,558.57
221 $70,558.57 $333.94 $0.00 $398.95 $71,291.46
222 $71,291.46 $333.94 $0.00 $403.09 $72,028.49
223 $72,028.49 $333.94 $0.00 $407.26 $72,769.69
224 $72,769.69 $333.94 $0.00 $411.45 $73,515.08
225 $73,515.08 $333.94 $0.00 $415.66 $74,264.68
226 $74,264.68 $333.94 $0.00 $419.90 $75,018.52
227 $75,018.52 $333.94 $0.00 $424.17 $75,776.63
228 $75,776.63 $333.94 $0.00 $428.45 $76,539.02
229 $76,539.02 $0.00 $76,970.90 $432.76 $0.88