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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$145,622
Monthly savings required$1,153

How much will it cost to send your child to Lycoming College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $582,486.25 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,152.72 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$56,155.00
Years until enrollment18
Annual Tuition Increase5%
Current Savings$0.00
After Tax Return on Savings7%
Years of enrollment4

Current Savings Shortfall

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Planned Savings Balance

College Savings Schedule

Month Begin Deposit Withdraw Interest End
1 $0.00 $1,152.72 $0.00 $0.00 $1,152.72
2 $1,152.72 $1,152.72 $0.00 $6.52 $2,311.96
3 $2,311.96 $1,152.72 $0.00 $13.07 $3,477.75
4 $3,477.75 $1,152.72 $0.00 $19.66 $4,650.13
5 $4,650.13 $1,152.72 $0.00 $26.29 $5,829.14
6 $5,829.14 $1,152.72 $0.00 $32.96 $7,014.82
7 $7,014.82 $1,152.72 $0.00 $39.66 $8,207.20
8 $8,207.20 $1,152.72 $0.00 $46.40 $9,406.32
9 $9,406.32 $1,152.72 $0.00 $53.18 $10,612.22
10 $10,612.22 $1,152.72 $0.00 $60.00 $11,824.94
11 $11,824.94 $1,152.72 $0.00 $66.86 $13,044.52
12 $13,044.52 $1,152.72 $0.00 $73.76 $14,271.00
13 $14,271.00 $1,152.72 $0.00 $80.69 $15,504.41
14 $15,504.41 $1,152.72 $0.00 $87.66 $16,744.79
15 $16,744.79 $1,152.72 $0.00 $94.68 $17,992.19
16 $17,992.19 $1,152.72 $0.00 $101.73 $19,246.64
17 $19,246.64 $1,152.72 $0.00 $108.82 $20,508.18
18 $20,508.18 $1,152.72 $0.00 $115.96 $21,776.86
19 $21,776.86 $1,152.72 $0.00 $123.13 $23,052.71
20 $23,052.71 $1,152.72 $0.00 $130.34 $24,335.77
21 $24,335.77 $1,152.72 $0.00 $137.60 $25,626.09
22 $25,626.09 $1,152.72 $0.00 $144.89 $26,923.70
23 $26,923.70 $1,152.72 $0.00 $152.23 $28,228.65
24 $28,228.65 $1,152.72 $0.00 $159.61 $29,540.98
25 $29,540.98 $1,152.72 $0.00 $167.03 $30,860.73
26 $30,860.73 $1,152.72 $0.00 $174.49 $32,187.94
27 $32,187.94 $1,152.72 $0.00 $182.00 $33,522.66
28 $33,522.66 $1,152.72 $0.00 $189.54 $34,864.92
29 $34,864.92 $1,152.72 $0.00 $197.13 $36,214.77
30 $36,214.77 $1,152.72 $0.00 $204.76 $37,572.25
31 $37,572.25 $1,152.72 $0.00 $212.44 $38,937.41
32 $38,937.41 $1,152.72 $0.00 $220.16 $40,310.29
33 $40,310.29 $1,152.72 $0.00 $227.92 $41,690.93
34 $41,690.93 $1,152.72 $0.00 $235.73 $43,079.38
35 $43,079.38 $1,152.72 $0.00 $243.58 $44,475.68
36 $44,475.68 $1,152.72 $0.00 $251.47 $45,879.87
37 $45,879.87 $1,152.72 $0.00 $259.41 $47,292.00
38 $47,292.00 $1,152.72 $0.00 $267.40 $48,712.12
39 $48,712.12 $1,152.72 $0.00 $275.43 $50,140.27
40 $50,140.27 $1,152.72 $0.00 $283.50 $51,576.49
41 $51,576.49 $1,152.72 $0.00 $291.62 $53,020.83
42 $53,020.83 $1,152.72 $0.00 $299.79 $54,473.34
43 $54,473.34 $1,152.72 $0.00 $308.00 $55,934.06
44 $55,934.06 $1,152.72 $0.00 $316.26 $57,403.04
45 $57,403.04 $1,152.72 $0.00 $324.57 $58,880.33
46 $58,880.33 $1,152.72 $0.00 $332.92 $60,365.97
47 $60,365.97 $1,152.72 $0.00 $341.32 $61,860.01
48 $61,860.01 $1,152.72 $0.00 $349.77 $63,362.50
49 $63,362.50 $1,152.72 $0.00 $358.26 $64,873.48
50 $64,873.48 $1,152.72 $0.00 $366.80 $66,393.00
51 $66,393.00 $1,152.72 $0.00 $375.40 $67,921.12
52 $67,921.12 $1,152.72 $0.00 $384.04 $69,457.88
53 $69,457.88 $1,152.72 $0.00 $392.72 $71,003.32
54 $71,003.32 $1,152.72 $0.00 $401.46 $72,557.50
55 $72,557.50 $1,152.72 $0.00 $410.25 $74,120.47
56 $74,120.47 $1,152.72 $0.00 $419.09 $75,692.28
57 $75,692.28 $1,152.72 $0.00 $427.98 $77,272.98
58 $77,272.98 $1,152.72 $0.00 $436.91 $78,862.61
59 $78,862.61 $1,152.72 $0.00 $445.90 $80,461.23
60 $80,461.23 $1,152.72 $0.00 $454.94 $82,068.89
61 $82,068.89 $1,152.72 $0.00 $464.03 $83,685.64
62 $83,685.64 $1,152.72 $0.00 $473.17 $85,311.53
63 $85,311.53 $1,152.72 $0.00 $482.36 $86,946.61
64 $86,946.61 $1,152.72 $0.00 $491.61 $88,590.94
65 $88,590.94 $1,152.72 $0.00 $500.91 $90,244.57
66 $90,244.57 $1,152.72 $0.00 $510.26 $91,907.55
67 $91,907.55 $1,152.72 $0.00 $519.66 $93,579.93
68 $93,579.93 $1,152.72 $0.00 $529.11 $95,261.76
69 $95,261.76 $1,152.72 $0.00 $538.62 $96,953.10
70 $96,953.10 $1,152.72 $0.00 $548.19 $98,654.01
71 $98,654.01 $1,152.72 $0.00 $557.80 $100,364.53
72 $100,364.53 $1,152.72 $0.00 $567.48 $102,084.73
73 $102,084.73 $1,152.72 $0.00 $577.20 $103,814.65
74 $103,814.65 $1,152.72 $0.00 $586.98 $105,554.35
75 $105,554.35 $1,152.72 $0.00 $596.82 $107,303.89
76 $107,303.89 $1,152.72 $0.00 $606.71 $109,063.32
77 $109,063.32 $1,152.72 $0.00 $616.66 $110,832.70
78 $110,832.70 $1,152.72 $0.00 $626.66 $112,612.08
79 $112,612.08 $1,152.72 $0.00 $636.73 $114,401.53
80 $114,401.53 $1,152.72 $0.00 $646.84 $116,201.09
81 $116,201.09 $1,152.72 $0.00 $657.02 $118,010.83
82 $118,010.83 $1,152.72 $0.00 $667.25 $119,830.80
83 $119,830.80 $1,152.72 $0.00 $677.54 $121,661.06
84 $121,661.06 $1,152.72 $0.00 $687.89 $123,501.67
85 $123,501.67 $1,152.72 $0.00 $698.30 $125,352.69
86 $125,352.69 $1,152.72 $0.00 $708.76 $127,214.17
87 $127,214.17 $1,152.72 $0.00 $719.29 $129,086.18
88 $129,086.18 $1,152.72 $0.00 $729.87 $130,968.77
89 $130,968.77 $1,152.72 $0.00 $740.52 $132,862.01
90 $132,862.01 $1,152.72 $0.00 $751.22 $134,765.95
91 $134,765.95 $1,152.72 $0.00 $761.99 $136,680.66
92 $136,680.66 $1,152.72 $0.00 $772.81 $138,606.19
93 $138,606.19 $1,152.72 $0.00 $783.70 $140,542.61
94 $140,542.61 $1,152.72 $0.00 $794.65 $142,489.98
95 $142,489.98 $1,152.72 $0.00 $805.66 $144,448.36
96 $144,448.36 $1,152.72 $0.00 $816.73 $146,417.81
97 $146,417.81 $1,152.72 $0.00 $827.87 $148,398.40
98 $148,398.40 $1,152.72 $0.00 $839.07 $150,390.19
99 $150,390.19 $1,152.72 $0.00 $850.33 $152,393.24
100 $152,393.24 $1,152.72 $0.00 $861.65 $154,407.61
101 $154,407.61 $1,152.72 $0.00 $873.04 $156,433.37
102 $156,433.37 $1,152.72 $0.00 $884.50 $158,470.59
103 $158,470.59 $1,152.72 $0.00 $896.02 $160,519.33
104 $160,519.33 $1,152.72 $0.00 $907.60 $162,579.65
105 $162,579.65 $1,152.72 $0.00 $919.25 $164,651.62
106 $164,651.62 $1,152.72 $0.00 $930.96 $166,735.30
107 $166,735.30 $1,152.72 $0.00 $942.75 $168,830.77
108 $168,830.77 $1,152.72 $0.00 $954.59 $170,938.08
109 $170,938.08 $1,152.72 $0.00 $966.51 $173,057.31
110 $173,057.31 $1,152.72 $0.00 $978.49 $175,188.52
111 $175,188.52 $1,152.72 $0.00 $990.54 $177,331.78
112 $177,331.78 $1,152.72 $0.00 $1,002.66 $179,487.16
113 $179,487.16 $1,152.72 $0.00 $1,014.85 $181,654.73
114 $181,654.73 $1,152.72 $0.00 $1,027.10 $183,834.55
115 $183,834.55 $1,152.72 $0.00 $1,039.43 $186,026.70
116 $186,026.70 $1,152.72 $0.00 $1,051.82 $188,231.24
117 $188,231.24 $1,152.72 $0.00 $1,064.29 $190,448.25
118 $190,448.25 $1,152.72 $0.00 $1,076.82 $192,677.79
119 $192,677.79 $1,152.72 $0.00 $1,089.43 $194,919.94
120 $194,919.94 $1,152.72 $0.00 $1,102.11 $197,174.77
121 $197,174.77 $1,152.72 $0.00 $1,114.85 $199,442.34
122 $199,442.34 $1,152.72 $0.00 $1,127.68 $201,722.74
123 $201,722.74 $1,152.72 $0.00 $1,140.57 $204,016.03
124 $204,016.03 $1,152.72 $0.00 $1,153.54 $206,322.29
125 $206,322.29 $1,152.72 $0.00 $1,166.58 $208,641.59
126 $208,641.59 $1,152.72 $0.00 $1,179.69 $210,974.00
127 $210,974.00 $1,152.72 $0.00 $1,192.88 $213,319.60
128 $213,319.60 $1,152.72 $0.00 $1,206.14 $215,678.46
129 $215,678.46 $1,152.72 $0.00 $1,219.48 $218,050.66
130 $218,050.66 $1,152.72 $0.00 $1,232.89 $220,436.27
131 $220,436.27 $1,152.72 $0.00 $1,246.38 $222,835.37
132 $222,835.37 $1,152.72 $0.00 $1,259.94 $225,248.03
133 $225,248.03 $1,152.72 $0.00 $1,273.59 $227,674.34
134 $227,674.34 $1,152.72 $0.00 $1,287.30 $230,114.36
135 $230,114.36 $1,152.72 $0.00 $1,301.10 $232,568.18
136 $232,568.18 $1,152.72 $0.00 $1,314.97 $235,035.87
137 $235,035.87 $1,152.72 $0.00 $1,328.93 $237,517.52
138 $237,517.52 $1,152.72 $0.00 $1,342.96 $240,013.20
139 $240,013.20 $1,152.72 $0.00 $1,357.07 $242,522.99
140 $242,522.99 $1,152.72 $0.00 $1,371.26 $245,046.97
141 $245,046.97 $1,152.72 $0.00 $1,385.53 $247,585.22
142 $247,585.22 $1,152.72 $0.00 $1,399.88 $250,137.82
143 $250,137.82 $1,152.72 $0.00 $1,414.32 $252,704.86
144 $252,704.86 $1,152.72 $0.00 $1,428.83 $255,286.41
145 $255,286.41 $1,152.72 $0.00 $1,443.43 $257,882.56
146 $257,882.56 $1,152.72 $0.00 $1,458.11 $260,493.39
147 $260,493.39 $1,152.72 $0.00 $1,472.87 $263,118.98
148 $263,118.98 $1,152.72 $0.00 $1,487.71 $265,759.41
149 $265,759.41 $1,152.72 $0.00 $1,502.64 $268,414.77
150 $268,414.77 $1,152.72 $0.00 $1,517.66 $271,085.15
151 $271,085.15 $1,152.72 $0.00 $1,532.75 $273,770.62
152 $273,770.62 $1,152.72 $0.00 $1,547.94 $276,471.28
153 $276,471.28 $1,152.72 $0.00 $1,563.21 $279,187.21
154 $279,187.21 $1,152.72 $0.00 $1,578.57 $281,918.50
155 $281,918.50 $1,152.72 $0.00 $1,594.01 $284,665.23
156 $284,665.23 $1,152.72 $0.00 $1,609.54 $287,427.49
157 $287,427.49 $1,152.72 $0.00 $1,625.16 $290,205.37
158 $290,205.37 $1,152.72 $0.00 $1,640.86 $292,998.95
159 $292,998.95 $1,152.72 $0.00 $1,656.66 $295,808.33
160 $295,808.33 $1,152.72 $0.00 $1,672.54 $298,633.59
161 $298,633.59 $1,152.72 $0.00 $1,688.52 $301,474.83
162 $301,474.83 $1,152.72 $0.00 $1,704.58 $304,332.13
163 $304,332.13 $1,152.72 $0.00 $1,720.74 $307,205.59
164 $307,205.59 $1,152.72 $0.00 $1,736.99 $310,095.30
165 $310,095.30 $1,152.72 $0.00 $1,753.32 $313,001.34
166 $313,001.34 $1,152.72 $0.00 $1,769.76 $315,923.82
167 $315,923.82 $1,152.72 $0.00 $1,786.28 $318,862.82
168 $318,862.82 $1,152.72 $0.00 $1,802.90 $321,818.44
169 $321,818.44 $1,152.72 $0.00 $1,819.61 $324,790.77
170 $324,790.77 $1,152.72 $0.00 $1,836.41 $327,779.90
171 $327,779.90 $1,152.72 $0.00 $1,853.32 $330,785.94
172 $330,785.94 $1,152.72 $0.00 $1,870.31 $333,808.97
173 $333,808.97 $1,152.72 $0.00 $1,887.40 $336,849.09
174 $336,849.09 $1,152.72 $0.00 $1,904.59 $339,906.40
175 $339,906.40 $1,152.72 $0.00 $1,921.88 $342,981.00
176 $342,981.00 $1,152.72 $0.00 $1,939.26 $346,072.98
177 $346,072.98 $1,152.72 $0.00 $1,956.75 $349,182.45
178 $349,182.45 $1,152.72 $0.00 $1,974.33 $352,309.50
179 $352,309.50 $1,152.72 $0.00 $1,992.01 $355,454.23
180 $355,454.23 $1,152.72 $0.00 $2,009.79 $358,616.74
181 $358,616.74 $1,152.72 $0.00 $2,027.67 $361,797.13
182 $361,797.13 $1,152.72 $0.00 $2,045.65 $364,995.50
183 $364,995.50 $1,152.72 $0.00 $2,063.74 $368,211.96
184 $368,211.96 $1,152.72 $0.00 $2,081.92 $371,446.60
185 $371,446.60 $1,152.72 $0.00 $2,100.21 $374,699.53
186 $374,699.53 $1,152.72 $0.00 $2,118.61 $377,970.86
187 $377,970.86 $1,152.72 $0.00 $2,137.10 $381,260.68
188 $381,260.68 $1,152.72 $0.00 $2,155.70 $384,569.10
189 $384,569.10 $1,152.72 $0.00 $2,174.41 $387,896.23
190 $387,896.23 $1,152.72 $0.00 $2,193.22 $391,242.17
191 $391,242.17 $1,152.72 $0.00 $2,212.14 $394,607.03
192 $394,607.03 $1,152.72 $0.00 $2,231.17 $397,990.92
193 $397,990.92 $1,152.72 $0.00 $2,250.30 $401,393.94
194 $401,393.94 $1,152.72 $0.00 $2,269.54 $404,816.20
195 $404,816.20 $1,152.72 $0.00 $2,288.89 $408,257.81
196 $408,257.81 $1,152.72 $0.00 $2,308.35 $411,718.88
197 $411,718.88 $1,152.72 $0.00 $2,327.92 $415,199.52
198 $415,199.52 $1,152.72 $0.00 $2,347.60 $418,699.84
199 $418,699.84 $1,152.72 $0.00 $2,367.39 $422,219.95
200 $422,219.95 $1,152.72 $0.00 $2,387.29 $425,759.96
201 $425,759.96 $1,152.72 $0.00 $2,407.31 $429,319.99
202 $429,319.99 $1,152.72 $0.00 $2,427.44 $432,900.15
203 $432,900.15 $1,152.72 $0.00 $2,447.68 $436,500.55
204 $436,500.55 $1,152.72 $0.00 $2,468.04 $440,121.31
205 $440,121.31 $1,152.72 $0.00 $2,488.51 $443,762.54
206 $443,762.54 $1,152.72 $0.00 $2,509.10 $447,424.36
207 $447,424.36 $1,152.72 $0.00 $2,529.80 $451,106.88
208 $451,106.88 $1,152.72 $0.00 $2,550.62 $454,810.22
209 $454,810.22 $1,152.72 $0.00 $2,571.56 $458,534.50
210 $458,534.50 $1,152.72 $0.00 $2,592.62 $462,279.84
211 $462,279.84 $1,152.72 $0.00 $2,613.80 $466,046.36
212 $466,046.36 $1,152.72 $0.00 $2,635.09 $469,834.17
213 $469,834.17 $1,152.72 $0.00 $2,656.51 $473,643.40
214 $473,643.40 $1,152.72 $0.00 $2,678.05 $477,474.17
215 $477,474.17 $1,152.72 $0.00 $2,699.71 $481,326.60
216 $481,326.60 $1,152.72 $0.00 $2,721.49 $485,200.81
217 $485,200.81 $1,152.72 $135,143.70 $2,743.40 $353,953.23
218 $353,953.23 $1,152.72 $0.00 $2,001.30 $357,107.25
219 $357,107.25 $1,152.72 $0.00 $2,019.14 $360,279.11
220 $360,279.11 $1,152.72 $0.00 $2,037.07 $363,468.90
221 $363,468.90 $1,152.72 $0.00 $2,055.11 $366,676.73
222 $366,676.73 $1,152.72 $0.00 $2,073.24 $369,902.69
223 $369,902.69 $1,152.72 $0.00 $2,091.48 $373,146.89
224 $373,146.89 $1,152.72 $0.00 $2,109.83 $376,409.44
225 $376,409.44 $1,152.72 $0.00 $2,128.27 $379,690.43
226 $379,690.43 $1,152.72 $0.00 $2,146.82 $382,989.97
227 $382,989.97 $1,152.72 $0.00 $2,165.48 $386,308.17
228 $386,308.17 $1,152.72 $0.00 $2,184.24 $389,645.13
229 $389,645.13 $1,152.72 $141,900.89 $2,203.11 $251,100.07
230 $251,100.07 $1,152.72 $0.00 $1,419.76 $253,672.55
231 $253,672.55 $1,152.72 $0.00 $1,434.30 $256,259.57
232 $256,259.57 $1,152.72 $0.00 $1,448.93 $258,861.22
233 $258,861.22 $1,152.72 $0.00 $1,463.64 $261,477.58
234 $261,477.58 $1,152.72 $0.00 $1,478.43 $264,108.73
235 $264,108.73 $1,152.72 $0.00 $1,493.31 $266,754.76
236 $266,754.76 $1,152.72 $0.00 $1,508.27 $269,415.75
237 $269,415.75 $1,152.72 $0.00 $1,523.32 $272,091.79
238 $272,091.79 $1,152.72 $0.00 $1,538.45 $274,782.96
239 $274,782.96 $1,152.72 $0.00 $1,553.66 $277,489.34
240 $277,489.34 $1,152.72 $0.00 $1,568.97 $280,211.03
241 $280,211.03 $1,152.72 $148,995.93 $1,584.35 $133,952.17
242 $133,952.17 $1,152.72 $0.00 $757.39 $135,862.28
243 $135,862.28 $1,152.72 $0.00 $768.19 $137,783.19
244 $137,783.19 $1,152.72 $0.00 $779.05 $139,714.96
245 $139,714.96 $1,152.72 $0.00 $789.97 $141,657.65
246 $141,657.65 $1,152.72 $0.00 $800.95 $143,611.32
247 $143,611.32 $1,152.72 $0.00 $812.00 $145,576.04
248 $145,576.04 $1,152.72 $0.00 $823.11 $147,551.87
249 $147,551.87 $1,152.72 $0.00 $834.28 $149,538.87
250 $149,538.87 $1,152.72 $0.00 $845.51 $151,537.10
251 $151,537.10 $1,152.72 $0.00 $856.81 $153,546.63
252 $153,546.63 $1,152.72 $0.00 $868.17 $155,567.52
253 $155,567.52 $0.00 $156,445.73 $879.60 $1.39