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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$70,969
Monthly savings required$315

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 $141,938.79 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $315.41 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$28,770.00
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 $315.41 $0.00 $0.00 $315.41
2 $315.41 $315.41 $0.00 $1.78 $632.60
3 $632.60 $315.41 $0.00 $3.58 $951.59
4 $951.59 $315.41 $0.00 $5.38 $1,272.38
5 $1,272.38 $315.41 $0.00 $7.19 $1,594.98
6 $1,594.98 $315.41 $0.00 $9.02 $1,919.41
7 $1,919.41 $315.41 $0.00 $10.85 $2,245.67
8 $2,245.67 $315.41 $0.00 $12.70 $2,573.78
9 $2,573.78 $315.41 $0.00 $14.55 $2,903.74
10 $2,903.74 $315.41 $0.00 $16.42 $3,235.57
11 $3,235.57 $315.41 $0.00 $18.29 $3,569.27
12 $3,569.27 $315.41 $0.00 $20.18 $3,904.86
13 $3,904.86 $315.41 $0.00 $22.08 $4,242.35
14 $4,242.35 $315.41 $0.00 $23.99 $4,581.75
15 $4,581.75 $315.41 $0.00 $25.91 $4,923.07
16 $4,923.07 $315.41 $0.00 $27.84 $5,266.32
17 $5,266.32 $315.41 $0.00 $29.78 $5,611.51
18 $5,611.51 $315.41 $0.00 $31.73 $5,958.65
19 $5,958.65 $315.41 $0.00 $33.69 $6,307.75
20 $6,307.75 $315.41 $0.00 $35.66 $6,658.82
21 $6,658.82 $315.41 $0.00 $37.65 $7,011.88
22 $7,011.88 $315.41 $0.00 $39.65 $7,366.94
23 $7,366.94 $315.41 $0.00 $41.65 $7,724.00
24 $7,724.00 $315.41 $0.00 $43.67 $8,083.08
25 $8,083.08 $315.41 $0.00 $45.70 $8,444.19
26 $8,444.19 $315.41 $0.00 $47.74 $8,807.34
27 $8,807.34 $315.41 $0.00 $49.80 $9,172.55
28 $9,172.55 $315.41 $0.00 $51.86 $9,539.82
29 $9,539.82 $315.41 $0.00 $53.94 $9,909.17
30 $9,909.17 $315.41 $0.00 $56.03 $10,280.61
31 $10,280.61 $315.41 $0.00 $58.13 $10,654.15
32 $10,654.15 $315.41 $0.00 $60.24 $11,029.80
33 $11,029.80 $315.41 $0.00 $62.36 $11,407.57
34 $11,407.57 $315.41 $0.00 $64.50 $11,787.48
35 $11,787.48 $315.41 $0.00 $66.65 $12,169.54
36 $12,169.54 $315.41 $0.00 $68.81 $12,553.76
37 $12,553.76 $315.41 $0.00 $70.98 $12,940.15
38 $12,940.15 $315.41 $0.00 $73.17 $13,328.73
39 $13,328.73 $315.41 $0.00 $75.36 $13,719.50
40 $13,719.50 $315.41 $0.00 $77.57 $14,112.48
41 $14,112.48 $315.41 $0.00 $79.79 $14,507.68
42 $14,507.68 $315.41 $0.00 $82.03 $14,905.12
43 $14,905.12 $315.41 $0.00 $84.28 $15,304.81
44 $15,304.81 $315.41 $0.00 $86.54 $15,706.76
45 $15,706.76 $315.41 $0.00 $88.81 $16,110.98
46 $16,110.98 $315.41 $0.00 $91.09 $16,517.48
47 $16,517.48 $315.41 $0.00 $93.39 $16,926.28
48 $16,926.28 $315.41 $0.00 $95.70 $17,337.39
49 $17,337.39 $315.41 $0.00 $98.03 $17,750.83
50 $17,750.83 $315.41 $0.00 $100.37 $18,166.61
51 $18,166.61 $315.41 $0.00 $102.72 $18,584.74
52 $18,584.74 $315.41 $0.00 $105.08 $19,005.23
53 $19,005.23 $315.41 $0.00 $107.46 $19,428.10
54 $19,428.10 $315.41 $0.00 $109.85 $19,853.36
55 $19,853.36 $315.41 $0.00 $112.25 $20,281.02
56 $20,281.02 $315.41 $0.00 $114.67 $20,711.10
57 $20,711.10 $315.41 $0.00 $117.10 $21,143.61
58 $21,143.61 $315.41 $0.00 $119.55 $21,578.57
59 $21,578.57 $315.41 $0.00 $122.01 $22,015.99
60 $22,015.99 $315.41 $0.00 $124.48 $22,455.88
61 $22,455.88 $315.41 $0.00 $126.97 $22,898.26
62 $22,898.26 $315.41 $0.00 $129.47 $23,343.14
63 $23,343.14 $315.41 $0.00 $131.99 $23,790.54
64 $23,790.54 $315.41 $0.00 $134.52 $24,240.47
65 $24,240.47 $315.41 $0.00 $137.06 $24,692.94
66 $24,692.94 $315.41 $0.00 $139.62 $25,147.97
67 $25,147.97 $315.41 $0.00 $142.19 $25,605.57
68 $25,605.57 $315.41 $0.00 $144.78 $26,065.76
69 $26,065.76 $315.41 $0.00 $147.38 $26,528.55
70 $26,528.55 $315.41 $0.00 $150.00 $26,993.96
71 $26,993.96 $315.41 $0.00 $152.63 $27,462.00
72 $27,462.00 $315.41 $0.00 $155.27 $27,932.68
73 $27,932.68 $315.41 $0.00 $157.94 $28,406.03
74 $28,406.03 $315.41 $0.00 $160.61 $28,882.05
75 $28,882.05 $315.41 $0.00 $163.30 $29,360.76
76 $29,360.76 $315.41 $0.00 $166.01 $29,842.18
77 $29,842.18 $315.41 $0.00 $168.73 $30,326.32
78 $30,326.32 $315.41 $0.00 $171.47 $30,813.20
79 $30,813.20 $315.41 $0.00 $174.22 $31,302.83
80 $31,302.83 $315.41 $0.00 $176.99 $31,795.23
81 $31,795.23 $315.41 $0.00 $179.77 $32,290.41
82 $32,290.41 $315.41 $0.00 $182.57 $32,788.39
83 $32,788.39 $315.41 $0.00 $185.39 $33,289.19
84 $33,289.19 $315.41 $0.00 $188.22 $33,792.82
85 $33,792.82 $315.41 $0.00 $191.07 $34,299.30
86 $34,299.30 $315.41 $0.00 $193.93 $34,808.64
87 $34,808.64 $315.41 $0.00 $196.81 $35,320.86
88 $35,320.86 $315.41 $0.00 $199.71 $35,835.98
89 $35,835.98 $315.41 $0.00 $202.62 $36,354.01
90 $36,354.01 $315.41 $0.00 $205.55 $36,874.97
91 $36,874.97 $315.41 $0.00 $208.50 $37,398.88
92 $37,398.88 $315.41 $0.00 $211.46 $37,925.75
93 $37,925.75 $315.41 $0.00 $214.44 $38,455.60
94 $38,455.60 $315.41 $0.00 $217.43 $38,988.44
95 $38,988.44 $315.41 $0.00 $220.45 $39,524.30
96 $39,524.30 $315.41 $0.00 $223.48 $40,063.19
97 $40,063.19 $315.41 $0.00 $226.52 $40,605.12
98 $40,605.12 $315.41 $0.00 $229.59 $41,150.12
99 $41,150.12 $315.41 $0.00 $232.67 $41,698.20
100 $41,698.20 $315.41 $0.00 $235.77 $42,249.38
101 $42,249.38 $315.41 $0.00 $238.88 $42,803.67
102 $42,803.67 $315.41 $0.00 $242.02 $43,361.10
103 $43,361.10 $315.41 $0.00 $245.17 $43,921.68
104 $43,921.68 $315.41 $0.00 $248.34 $44,485.43
105 $44,485.43 $315.41 $0.00 $251.53 $45,052.37
106 $45,052.37 $315.41 $0.00 $254.73 $45,622.51
107 $45,622.51 $315.41 $0.00 $257.96 $46,195.88
108 $46,195.88 $315.41 $0.00 $261.20 $46,772.49
109 $46,772.49 $315.41 $0.00 $264.46 $47,352.36
110 $47,352.36 $315.41 $0.00 $267.74 $47,935.51
111 $47,935.51 $315.41 $0.00 $271.03 $48,521.95
112 $48,521.95 $315.41 $0.00 $274.35 $49,111.71
113 $49,111.71 $315.41 $0.00 $277.68 $49,704.80
114 $49,704.80 $315.41 $0.00 $281.04 $50,301.25
115 $50,301.25 $315.41 $0.00 $284.41 $50,901.07
116 $50,901.07 $315.41 $0.00 $287.80 $51,504.28
117 $51,504.28 $315.41 $0.00 $291.21 $52,110.90
118 $52,110.90 $315.41 $0.00 $294.64 $52,720.95
119 $52,720.95 $315.41 $0.00 $298.09 $53,334.45
120 $53,334.45 $315.41 $0.00 $301.56 $53,951.42
121 $53,951.42 $315.41 $0.00 $305.05 $54,571.88
122 $54,571.88 $315.41 $0.00 $308.56 $55,195.85
123 $55,195.85 $315.41 $0.00 $312.09 $55,823.35
124 $55,823.35 $315.41 $0.00 $315.63 $56,454.39
125 $56,454.39 $315.41 $0.00 $319.20 $57,089.00
126 $57,089.00 $315.41 $0.00 $322.79 $57,727.20
127 $57,727.20 $315.41 $0.00 $326.40 $58,369.01
128 $58,369.01 $315.41 $0.00 $330.03 $59,014.45
129 $59,014.45 $315.41 $0.00 $333.68 $59,663.54
130 $59,663.54 $315.41 $0.00 $337.35 $60,316.30
131 $60,316.30 $315.41 $0.00 $341.04 $60,972.75
132 $60,972.75 $315.41 $0.00 $344.75 $61,632.91
133 $61,632.91 $315.41 $0.00 $348.48 $62,296.80
134 $62,296.80 $315.41 $0.00 $352.24 $62,964.45
135 $62,964.45 $315.41 $0.00 $356.01 $63,635.87
136 $63,635.87 $315.41 $0.00 $359.81 $64,311.09
137 $64,311.09 $315.41 $0.00 $363.62 $64,990.12
138 $64,990.12 $315.41 $0.00 $367.46 $65,672.99
139 $65,672.99 $315.41 $0.00 $371.32 $66,359.72
140 $66,359.72 $315.41 $0.00 $375.21 $67,050.34
141 $67,050.34 $315.41 $0.00 $379.11 $67,744.86
142 $67,744.86 $315.41 $0.00 $383.04 $68,443.31
143 $68,443.31 $315.41 $0.00 $386.99 $69,145.71
144 $69,145.71 $315.41 $0.00 $390.96 $69,852.08
145 $69,852.08 $315.41 $0.00 $394.95 $70,562.44
146 $70,562.44 $315.41 $0.00 $398.97 $71,276.82
147 $71,276.82 $315.41 $0.00 $403.01 $71,995.24
148 $71,995.24 $315.41 $0.00 $407.07 $72,717.72
149 $72,717.72 $315.41 $0.00 $411.16 $73,444.29
150 $73,444.29 $315.41 $0.00 $415.26 $74,174.96
151 $74,174.96 $315.41 $0.00 $419.40 $74,909.77
152 $74,909.77 $315.41 $0.00 $423.55 $75,648.73
153 $75,648.73 $315.41 $0.00 $427.73 $76,391.87
154 $76,391.87 $315.41 $0.00 $431.93 $77,139.21
155 $77,139.21 $315.41 $0.00 $436.16 $77,890.78
156 $77,890.78 $315.41 $0.00 $440.41 $78,646.60
157 $78,646.60 $315.41 $0.00 $444.68 $79,406.69
158 $79,406.69 $315.41 $0.00 $448.98 $80,171.08
159 $80,171.08 $315.41 $0.00 $453.30 $80,939.79
160 $80,939.79 $315.41 $0.00 $457.65 $81,712.85
161 $81,712.85 $315.41 $0.00 $462.02 $82,490.28
162 $82,490.28 $315.41 $0.00 $466.41 $83,272.10
163 $83,272.10 $315.41 $0.00 $470.83 $84,058.34
164 $84,058.34 $315.41 $0.00 $475.28 $84,849.03
165 $84,849.03 $315.41 $0.00 $479.75 $85,644.19
166 $85,644.19 $315.41 $0.00 $484.24 $86,443.84
167 $86,443.84 $315.41 $0.00 $488.77 $87,248.02
168 $87,248.02 $315.41 $0.00 $493.31 $88,056.74
169 $88,056.74 $315.41 $0.00 $497.89 $88,870.04
170 $88,870.04 $315.41 $0.00 $502.48 $89,687.93
171 $89,687.93 $315.41 $0.00 $507.11 $90,510.45
172 $90,510.45 $315.41 $0.00 $511.76 $91,337.62
173 $91,337.62 $315.41 $0.00 $516.44 $92,169.47
174 $92,169.47 $315.41 $0.00 $521.14 $93,006.02
175 $93,006.02 $315.41 $0.00 $525.87 $93,847.30
176 $93,847.30 $315.41 $0.00 $530.63 $94,693.34
177 $94,693.34 $315.41 $0.00 $535.41 $95,544.16
178 $95,544.16 $315.41 $0.00 $540.22 $96,399.79
179 $96,399.79 $315.41 $0.00 $545.06 $97,260.26
180 $97,260.26 $315.41 $0.00 $549.92 $98,125.59
181 $98,125.59 $315.41 $0.00 $554.82 $98,995.82
182 $98,995.82 $315.41 $0.00 $559.74 $99,870.97
183 $99,870.97 $315.41 $0.00 $564.68 $100,751.06
184 $100,751.06 $315.41 $0.00 $569.66 $101,636.13
185 $101,636.13 $315.41 $0.00 $574.67 $102,526.21
186 $102,526.21 $315.41 $0.00 $579.70 $103,421.32
187 $103,421.32 $315.41 $0.00 $584.76 $104,321.49
188 $104,321.49 $315.41 $0.00 $589.85 $105,226.75
189 $105,226.75 $315.41 $0.00 $594.97 $106,137.13
190 $106,137.13 $315.41 $0.00 $600.11 $107,052.65
191 $107,052.65 $315.41 $0.00 $605.29 $107,973.35
192 $107,973.35 $315.41 $0.00 $610.50 $108,899.26
193 $108,899.26 $315.41 $0.00 $615.73 $109,830.40
194 $109,830.40 $315.41 $0.00 $621.00 $110,766.81
195 $110,766.81 $315.41 $0.00 $626.29 $111,708.51
196 $111,708.51 $315.41 $0.00 $631.62 $112,655.54
197 $112,655.54 $315.41 $0.00 $636.97 $113,607.92
198 $113,607.92 $315.41 $0.00 $642.36 $114,565.69
199 $114,565.69 $315.41 $0.00 $647.77 $115,528.87
200 $115,528.87 $315.41 $0.00 $653.22 $116,497.50
201 $116,497.50 $315.41 $0.00 $658.69 $117,471.60
202 $117,471.60 $315.41 $0.00 $664.20 $118,451.21
203 $118,451.21 $315.41 $0.00 $669.74 $119,436.36
204 $119,436.36 $315.41 $0.00 $675.31 $120,427.08
205 $120,427.08 $315.41 $0.00 $680.91 $121,423.40
206 $121,423.40 $315.41 $0.00 $686.55 $122,425.36
207 $122,425.36 $315.41 $0.00 $692.21 $123,432.98
208 $123,432.98 $315.41 $0.00 $697.91 $124,446.30
209 $124,446.30 $315.41 $0.00 $703.64 $125,465.35
210 $125,465.35 $315.41 $0.00 $709.40 $126,490.16
211 $126,490.16 $315.41 $0.00 $715.19 $127,520.76
212 $127,520.76 $315.41 $0.00 $721.02 $128,557.19
213 $128,557.19 $315.41 $0.00 $726.88 $129,599.48
214 $129,599.48 $315.41 $0.00 $732.77 $130,647.66
215 $130,647.66 $315.41 $0.00 $738.70 $131,701.77
216 $131,701.77 $315.41 $0.00 $744.66 $132,761.84
217 $132,761.84 $315.41 $69,238.44 $750.65 $64,589.46
218 $64,589.46 $315.41 $0.00 $365.20 $65,270.07
219 $65,270.07 $315.41 $0.00 $369.05 $65,954.53
220 $65,954.53 $315.41 $0.00 $372.92 $66,642.86
221 $66,642.86 $315.41 $0.00 $376.81 $67,335.08
222 $67,335.08 $315.41 $0.00 $380.72 $68,031.21
223 $68,031.21 $315.41 $0.00 $384.66 $68,731.28
224 $68,731.28 $315.41 $0.00 $388.62 $69,435.31
225 $69,435.31 $315.41 $0.00 $392.60 $70,143.32
226 $70,143.32 $315.41 $0.00 $396.60 $70,855.33
227 $70,855.33 $315.41 $0.00 $400.63 $71,571.37
228 $71,571.37 $315.41 $0.00 $404.67 $72,291.45
229 $72,291.45 $0.00 $72,700.36 $408.75 ($0.16)