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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$67,277
Monthly savings required$299

How much will it cost to send your child to Forrest College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $134,553.24 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $299.00 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$27,273.00
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 $299.00 $0.00 $0.00 $299.00
2 $299.00 $299.00 $0.00 $1.69 $599.69
3 $599.69 $299.00 $0.00 $3.39 $902.08
4 $902.08 $299.00 $0.00 $5.10 $1,206.18
5 $1,206.18 $299.00 $0.00 $6.82 $1,512.00
6 $1,512.00 $299.00 $0.00 $8.55 $1,819.55
7 $1,819.55 $299.00 $0.00 $10.29 $2,128.84
8 $2,128.84 $299.00 $0.00 $12.04 $2,439.88
9 $2,439.88 $299.00 $0.00 $13.80 $2,752.68
10 $2,752.68 $299.00 $0.00 $15.56 $3,067.24
11 $3,067.24 $299.00 $0.00 $17.34 $3,383.58
12 $3,383.58 $299.00 $0.00 $19.13 $3,701.71
13 $3,701.71 $299.00 $0.00 $20.93 $4,021.64
14 $4,021.64 $299.00 $0.00 $22.74 $4,343.38
15 $4,343.38 $299.00 $0.00 $24.56 $4,666.94
16 $4,666.94 $299.00 $0.00 $26.39 $4,992.33
17 $4,992.33 $299.00 $0.00 $28.23 $5,319.56
18 $5,319.56 $299.00 $0.00 $30.08 $5,648.64
19 $5,648.64 $299.00 $0.00 $31.94 $5,979.58
20 $5,979.58 $299.00 $0.00 $33.81 $6,312.39
21 $6,312.39 $299.00 $0.00 $35.69 $6,647.08
22 $6,647.08 $299.00 $0.00 $37.58 $6,983.66
23 $6,983.66 $299.00 $0.00 $39.49 $7,322.15
24 $7,322.15 $299.00 $0.00 $41.40 $7,662.55
25 $7,662.55 $299.00 $0.00 $43.33 $8,004.88
26 $8,004.88 $299.00 $0.00 $45.26 $8,349.14
27 $8,349.14 $299.00 $0.00 $47.21 $8,695.35
28 $8,695.35 $299.00 $0.00 $49.16 $9,043.51
29 $9,043.51 $299.00 $0.00 $51.13 $9,393.64
30 $9,393.64 $299.00 $0.00 $53.11 $9,745.75
31 $9,745.75 $299.00 $0.00 $55.10 $10,099.85
32 $10,099.85 $299.00 $0.00 $57.11 $10,455.96
33 $10,455.96 $299.00 $0.00 $59.12 $10,814.08
34 $10,814.08 $299.00 $0.00 $61.14 $11,174.22
35 $11,174.22 $299.00 $0.00 $63.18 $11,536.40
36 $11,536.40 $299.00 $0.00 $65.23 $11,900.63
37 $11,900.63 $299.00 $0.00 $67.29 $12,266.92
38 $12,266.92 $299.00 $0.00 $69.36 $12,635.28
39 $12,635.28 $299.00 $0.00 $71.44 $13,005.72
40 $13,005.72 $299.00 $0.00 $73.54 $13,378.26
41 $13,378.26 $299.00 $0.00 $75.64 $13,752.90
42 $13,752.90 $299.00 $0.00 $77.76 $14,129.66
43 $14,129.66 $299.00 $0.00 $79.89 $14,508.55
44 $14,508.55 $299.00 $0.00 $82.03 $14,889.58
45 $14,889.58 $299.00 $0.00 $84.19 $15,272.77
46 $15,272.77 $299.00 $0.00 $86.35 $15,658.12
47 $15,658.12 $299.00 $0.00 $88.53 $16,045.65
48 $16,045.65 $299.00 $0.00 $90.72 $16,435.37
49 $16,435.37 $299.00 $0.00 $92.93 $16,827.30
50 $16,827.30 $299.00 $0.00 $95.14 $17,221.44
51 $17,221.44 $299.00 $0.00 $97.37 $17,617.81
52 $17,617.81 $299.00 $0.00 $99.61 $18,016.42
53 $18,016.42 $299.00 $0.00 $101.87 $18,417.29
54 $18,417.29 $299.00 $0.00 $104.13 $18,820.42
55 $18,820.42 $299.00 $0.00 $106.41 $19,225.83
56 $19,225.83 $299.00 $0.00 $108.71 $19,633.54
57 $19,633.54 $299.00 $0.00 $111.01 $20,043.55
58 $20,043.55 $299.00 $0.00 $113.33 $20,455.88
59 $20,455.88 $299.00 $0.00 $115.66 $20,870.54
60 $20,870.54 $299.00 $0.00 $118.01 $21,287.55
61 $21,287.55 $299.00 $0.00 $120.36 $21,706.91
62 $21,706.91 $299.00 $0.00 $122.73 $22,128.64
63 $22,128.64 $299.00 $0.00 $125.12 $22,552.76
64 $22,552.76 $299.00 $0.00 $127.52 $22,979.28
65 $22,979.28 $299.00 $0.00 $129.93 $23,408.21
66 $23,408.21 $299.00 $0.00 $132.35 $23,839.56
67 $23,839.56 $299.00 $0.00 $134.79 $24,273.35
68 $24,273.35 $299.00 $0.00 $137.25 $24,709.60
69 $24,709.60 $299.00 $0.00 $139.71 $25,148.31
70 $25,148.31 $299.00 $0.00 $142.19 $25,589.50
71 $25,589.50 $299.00 $0.00 $144.69 $26,033.19
72 $26,033.19 $299.00 $0.00 $147.20 $26,479.39
73 $26,479.39 $299.00 $0.00 $149.72 $26,928.11
74 $26,928.11 $299.00 $0.00 $152.26 $27,379.37
75 $27,379.37 $299.00 $0.00 $154.81 $27,833.18
76 $27,833.18 $299.00 $0.00 $157.37 $28,289.55
77 $28,289.55 $299.00 $0.00 $159.95 $28,748.50
78 $28,748.50 $299.00 $0.00 $162.55 $29,210.05
79 $29,210.05 $299.00 $0.00 $165.16 $29,674.21
80 $29,674.21 $299.00 $0.00 $167.78 $30,140.99
81 $30,140.99 $299.00 $0.00 $170.42 $30,610.41
82 $30,610.41 $299.00 $0.00 $173.08 $31,082.49
83 $31,082.49 $299.00 $0.00 $175.74 $31,557.23
84 $31,557.23 $299.00 $0.00 $178.43 $32,034.66
85 $32,034.66 $299.00 $0.00 $181.13 $32,514.79
86 $32,514.79 $299.00 $0.00 $183.84 $32,997.63
87 $32,997.63 $299.00 $0.00 $186.57 $33,483.20
88 $33,483.20 $299.00 $0.00 $189.32 $33,971.52
89 $33,971.52 $299.00 $0.00 $192.08 $34,462.60
90 $34,462.60 $299.00 $0.00 $194.86 $34,956.46
91 $34,956.46 $299.00 $0.00 $197.65 $35,453.11
92 $35,453.11 $299.00 $0.00 $200.46 $35,952.57
93 $35,952.57 $299.00 $0.00 $203.28 $36,454.85
94 $36,454.85 $299.00 $0.00 $206.12 $36,959.97
95 $36,959.97 $299.00 $0.00 $208.98 $37,467.95
96 $37,467.95 $299.00 $0.00 $211.85 $37,978.80
97 $37,978.80 $299.00 $0.00 $214.74 $38,492.54
98 $38,492.54 $299.00 $0.00 $217.64 $39,009.18
99 $39,009.18 $299.00 $0.00 $220.56 $39,528.74
100 $39,528.74 $299.00 $0.00 $223.50 $40,051.24
101 $40,051.24 $299.00 $0.00 $226.46 $40,576.70
102 $40,576.70 $299.00 $0.00 $229.43 $41,105.13
103 $41,105.13 $299.00 $0.00 $232.41 $41,636.54
104 $41,636.54 $299.00 $0.00 $235.42 $42,170.96
105 $42,170.96 $299.00 $0.00 $238.44 $42,708.40
106 $42,708.40 $299.00 $0.00 $241.48 $43,248.88
107 $43,248.88 $299.00 $0.00 $244.54 $43,792.42
108 $43,792.42 $299.00 $0.00 $247.61 $44,339.03
109 $44,339.03 $299.00 $0.00 $250.70 $44,888.73
110 $44,888.73 $299.00 $0.00 $253.81 $45,441.54
111 $45,441.54 $299.00 $0.00 $256.93 $45,997.47
112 $45,997.47 $299.00 $0.00 $260.08 $46,556.55
113 $46,556.55 $299.00 $0.00 $263.24 $47,118.79
114 $47,118.79 $299.00 $0.00 $266.42 $47,684.21
115 $47,684.21 $299.00 $0.00 $269.61 $48,252.82
116 $48,252.82 $299.00 $0.00 $272.83 $48,824.65
117 $48,824.65 $299.00 $0.00 $276.06 $49,399.71
118 $49,399.71 $299.00 $0.00 $279.31 $49,978.02
119 $49,978.02 $299.00 $0.00 $282.58 $50,559.60
120 $50,559.60 $299.00 $0.00 $285.87 $51,144.47
121 $51,144.47 $299.00 $0.00 $289.18 $51,732.65
122 $51,732.65 $299.00 $0.00 $292.50 $52,324.15
123 $52,324.15 $299.00 $0.00 $295.85 $52,919.00
124 $52,919.00 $299.00 $0.00 $299.21 $53,517.21
125 $53,517.21 $299.00 $0.00 $302.59 $54,118.80
126 $54,118.80 $299.00 $0.00 $306.00 $54,723.80
127 $54,723.80 $299.00 $0.00 $309.42 $55,332.22
128 $55,332.22 $299.00 $0.00 $312.86 $55,944.08
129 $55,944.08 $299.00 $0.00 $316.32 $56,559.40
130 $56,559.40 $299.00 $0.00 $319.80 $57,178.20
131 $57,178.20 $299.00 $0.00 $323.29 $57,800.49
132 $57,800.49 $299.00 $0.00 $326.81 $58,426.30
133 $58,426.30 $299.00 $0.00 $330.35 $59,055.65
134 $59,055.65 $299.00 $0.00 $333.91 $59,688.56
135 $59,688.56 $299.00 $0.00 $337.49 $60,325.05
136 $60,325.05 $299.00 $0.00 $341.09 $60,965.14
137 $60,965.14 $299.00 $0.00 $344.71 $61,608.85
138 $61,608.85 $299.00 $0.00 $348.35 $62,256.20
139 $62,256.20 $299.00 $0.00 $352.01 $62,907.21
140 $62,907.21 $299.00 $0.00 $355.69 $63,561.90
141 $63,561.90 $299.00 $0.00 $359.39 $64,220.29
142 $64,220.29 $299.00 $0.00 $363.11 $64,882.40
143 $64,882.40 $299.00 $0.00 $366.85 $65,548.25
144 $65,548.25 $299.00 $0.00 $370.62 $66,217.87
145 $66,217.87 $299.00 $0.00 $374.41 $66,891.28
146 $66,891.28 $299.00 $0.00 $378.21 $67,568.49
147 $67,568.49 $299.00 $0.00 $382.04 $68,249.53
148 $68,249.53 $299.00 $0.00 $385.89 $68,934.42
149 $68,934.42 $299.00 $0.00 $389.77 $69,623.19
150 $69,623.19 $299.00 $0.00 $393.66 $70,315.85
151 $70,315.85 $299.00 $0.00 $397.58 $71,012.43
152 $71,012.43 $299.00 $0.00 $401.51 $71,712.94
153 $71,712.94 $299.00 $0.00 $405.48 $72,417.42
154 $72,417.42 $299.00 $0.00 $409.46 $73,125.88
155 $73,125.88 $299.00 $0.00 $413.46 $73,838.34
156 $73,838.34 $299.00 $0.00 $417.49 $74,554.83
157 $74,554.83 $299.00 $0.00 $421.54 $75,275.37
158 $75,275.37 $299.00 $0.00 $425.62 $75,999.99
159 $75,999.99 $299.00 $0.00 $429.71 $76,728.70
160 $76,728.70 $299.00 $0.00 $433.84 $77,461.54
161 $77,461.54 $299.00 $0.00 $437.98 $78,198.52
162 $78,198.52 $299.00 $0.00 $442.15 $78,939.67
163 $78,939.67 $299.00 $0.00 $446.34 $79,685.01
164 $79,685.01 $299.00 $0.00 $450.55 $80,434.56
165 $80,434.56 $299.00 $0.00 $454.79 $81,188.35
166 $81,188.35 $299.00 $0.00 $459.05 $81,946.40
167 $81,946.40 $299.00 $0.00 $463.34 $82,708.74
168 $82,708.74 $299.00 $0.00 $467.65 $83,475.39
169 $83,475.39 $299.00 $0.00 $471.98 $84,246.37
170 $84,246.37 $299.00 $0.00 $476.34 $85,021.71
171 $85,021.71 $299.00 $0.00 $480.73 $85,801.44
172 $85,801.44 $299.00 $0.00 $485.13 $86,585.57
173 $86,585.57 $299.00 $0.00 $489.57 $87,374.14
174 $87,374.14 $299.00 $0.00 $494.03 $88,167.17
175 $88,167.17 $299.00 $0.00 $498.51 $88,964.68
176 $88,964.68 $299.00 $0.00 $503.02 $89,766.70
177 $89,766.70 $299.00 $0.00 $507.55 $90,573.25
178 $90,573.25 $299.00 $0.00 $512.11 $91,384.36
179 $91,384.36 $299.00 $0.00 $516.70 $92,200.06
180 $92,200.06 $299.00 $0.00 $521.31 $93,020.37
181 $93,020.37 $299.00 $0.00 $525.95 $93,845.32
182 $93,845.32 $299.00 $0.00 $530.62 $94,674.94
183 $94,674.94 $299.00 $0.00 $535.31 $95,509.25
184 $95,509.25 $299.00 $0.00 $540.02 $96,348.27
185 $96,348.27 $299.00 $0.00 $544.77 $97,192.04
186 $97,192.04 $299.00 $0.00 $549.54 $98,040.58
187 $98,040.58 $299.00 $0.00 $554.34 $98,893.92
188 $98,893.92 $299.00 $0.00 $559.16 $99,752.08
189 $99,752.08 $299.00 $0.00 $564.01 $100,615.09
190 $100,615.09 $299.00 $0.00 $568.89 $101,482.98
191 $101,482.98 $299.00 $0.00 $573.80 $102,355.78
192 $102,355.78 $299.00 $0.00 $578.73 $103,233.51
193 $103,233.51 $299.00 $0.00 $583.70 $104,116.21
194 $104,116.21 $299.00 $0.00 $588.69 $105,003.90
195 $105,003.90 $299.00 $0.00 $593.71 $105,896.61
196 $105,896.61 $299.00 $0.00 $598.75 $106,794.36
197 $106,794.36 $299.00 $0.00 $603.83 $107,697.19
198 $107,697.19 $299.00 $0.00 $608.94 $108,605.13
199 $108,605.13 $299.00 $0.00 $614.07 $109,518.20
200 $109,518.20 $299.00 $0.00 $619.23 $110,436.43
201 $110,436.43 $299.00 $0.00 $624.42 $111,359.85
202 $111,359.85 $299.00 $0.00 $629.64 $112,288.49
203 $112,288.49 $299.00 $0.00 $634.90 $113,222.39
204 $113,222.39 $299.00 $0.00 $640.18 $114,161.57
205 $114,161.57 $299.00 $0.00 $645.49 $115,106.06
206 $115,106.06 $299.00 $0.00 $650.83 $116,055.89
207 $116,055.89 $299.00 $0.00 $656.20 $117,011.09
208 $117,011.09 $299.00 $0.00 $661.60 $117,971.69
209 $117,971.69 $299.00 $0.00 $667.03 $118,937.72
210 $118,937.72 $299.00 $0.00 $672.49 $119,909.21
211 $119,909.21 $299.00 $0.00 $677.98 $120,886.19
212 $120,886.19 $299.00 $0.00 $683.51 $121,868.70
213 $121,868.70 $299.00 $0.00 $689.06 $122,856.76
214 $122,856.76 $299.00 $0.00 $694.65 $123,850.41
215 $123,850.41 $299.00 $0.00 $700.27 $124,849.68
216 $124,849.68 $299.00 $0.00 $705.92 $125,854.60
217 $125,854.60 $299.00 $65,635.73 $711.60 $61,229.47
218 $61,229.47 $299.00 $0.00 $346.20 $61,874.67
219 $61,874.67 $299.00 $0.00 $349.85 $62,523.52
220 $62,523.52 $299.00 $0.00 $353.52 $63,176.04
221 $63,176.04 $299.00 $0.00 $357.21 $63,832.25
222 $63,832.25 $299.00 $0.00 $360.92 $64,492.17
223 $64,492.17 $299.00 $0.00 $364.65 $65,155.82
224 $65,155.82 $299.00 $0.00 $368.40 $65,823.22
225 $65,823.22 $299.00 $0.00 $372.17 $66,494.39
226 $66,494.39 $299.00 $0.00 $375.97 $67,169.36
227 $67,169.36 $299.00 $0.00 $379.79 $67,848.15
228 $67,848.15 $299.00 $0.00 $383.62 $68,530.77
229 $68,530.77 $0.00 $68,917.51 $387.48 $0.74