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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$40,719
Monthly savings required$181

How much will it cost to send your child to Lake Area Technical Institute in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $81,438.43 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $180.97 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$16,507.00
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 $180.97 $0.00 $0.00 $180.97
2 $180.97 $180.97 $0.00 $1.02 $362.96
3 $362.96 $180.97 $0.00 $2.05 $545.98
4 $545.98 $180.97 $0.00 $3.09 $730.04
5 $730.04 $180.97 $0.00 $4.13 $915.14
6 $915.14 $180.97 $0.00 $5.17 $1,101.28
7 $1,101.28 $180.97 $0.00 $6.23 $1,288.48
8 $1,288.48 $180.97 $0.00 $7.29 $1,476.74
9 $1,476.74 $180.97 $0.00 $8.35 $1,666.06
10 $1,666.06 $180.97 $0.00 $9.42 $1,856.45
11 $1,856.45 $180.97 $0.00 $10.50 $2,047.92
12 $2,047.92 $180.97 $0.00 $11.58 $2,240.47
13 $2,240.47 $180.97 $0.00 $12.67 $2,434.11
14 $2,434.11 $180.97 $0.00 $13.76 $2,628.84
15 $2,628.84 $180.97 $0.00 $14.86 $2,824.67
16 $2,824.67 $180.97 $0.00 $15.97 $3,021.61
17 $3,021.61 $180.97 $0.00 $17.08 $3,219.66
18 $3,219.66 $180.97 $0.00 $18.20 $3,418.83
19 $3,418.83 $180.97 $0.00 $19.33 $3,619.13
20 $3,619.13 $180.97 $0.00 $20.46 $3,820.56
21 $3,820.56 $180.97 $0.00 $21.60 $4,023.13
22 $4,023.13 $180.97 $0.00 $22.75 $4,226.85
23 $4,226.85 $180.97 $0.00 $23.90 $4,431.72
24 $4,431.72 $180.97 $0.00 $25.06 $4,637.75
25 $4,637.75 $180.97 $0.00 $26.22 $4,844.94
26 $4,844.94 $180.97 $0.00 $27.39 $5,053.30
27 $5,053.30 $180.97 $0.00 $28.57 $5,262.84
28 $5,262.84 $180.97 $0.00 $29.76 $5,473.57
29 $5,473.57 $180.97 $0.00 $30.95 $5,685.49
30 $5,685.49 $180.97 $0.00 $32.15 $5,898.61
31 $5,898.61 $180.97 $0.00 $33.35 $6,112.93
32 $6,112.93 $180.97 $0.00 $34.56 $6,328.46
33 $6,328.46 $180.97 $0.00 $35.78 $6,545.21
34 $6,545.21 $180.97 $0.00 $37.01 $6,763.19
35 $6,763.19 $180.97 $0.00 $38.24 $6,982.40
36 $6,982.40 $180.97 $0.00 $39.48 $7,202.85
37 $7,202.85 $180.97 $0.00 $40.73 $7,424.55
38 $7,424.55 $180.97 $0.00 $41.98 $7,647.50
39 $7,647.50 $180.97 $0.00 $43.24 $7,871.71
40 $7,871.71 $180.97 $0.00 $44.51 $8,097.19
41 $8,097.19 $180.97 $0.00 $45.78 $8,323.94
42 $8,323.94 $180.97 $0.00 $47.06 $8,551.97
43 $8,551.97 $180.97 $0.00 $48.35 $8,781.29
44 $8,781.29 $180.97 $0.00 $49.65 $9,011.91
45 $9,011.91 $180.97 $0.00 $50.95 $9,243.83
46 $9,243.83 $180.97 $0.00 $52.27 $9,477.07
47 $9,477.07 $180.97 $0.00 $53.58 $9,711.62
48 $9,711.62 $180.97 $0.00 $54.91 $9,947.50
49 $9,947.50 $180.97 $0.00 $56.24 $10,184.71
50 $10,184.71 $180.97 $0.00 $57.59 $10,423.27
51 $10,423.27 $180.97 $0.00 $58.93 $10,663.17
52 $10,663.17 $180.97 $0.00 $60.29 $10,904.43
53 $10,904.43 $180.97 $0.00 $61.66 $11,147.06
54 $11,147.06 $180.97 $0.00 $63.03 $11,391.06
55 $11,391.06 $180.97 $0.00 $64.41 $11,636.44
56 $11,636.44 $180.97 $0.00 $65.79 $11,883.20
57 $11,883.20 $180.97 $0.00 $67.19 $12,131.36
58 $12,131.36 $180.97 $0.00 $68.59 $12,380.92
59 $12,380.92 $180.97 $0.00 $70.00 $12,631.89
60 $12,631.89 $180.97 $0.00 $71.42 $12,884.28
61 $12,884.28 $180.97 $0.00 $72.85 $13,138.10
62 $13,138.10 $180.97 $0.00 $74.28 $13,393.35
63 $13,393.35 $180.97 $0.00 $75.73 $13,650.05
64 $13,650.05 $180.97 $0.00 $77.18 $13,908.20
65 $13,908.20 $180.97 $0.00 $78.64 $14,167.81
66 $14,167.81 $180.97 $0.00 $80.11 $14,428.89
67 $14,428.89 $180.97 $0.00 $81.58 $14,691.44
68 $14,691.44 $180.97 $0.00 $83.07 $14,955.48
69 $14,955.48 $180.97 $0.00 $84.56 $15,221.01
70 $15,221.01 $180.97 $0.00 $86.06 $15,488.04
71 $15,488.04 $180.97 $0.00 $87.57 $15,756.58
72 $15,756.58 $180.97 $0.00 $89.09 $16,026.64
73 $16,026.64 $180.97 $0.00 $90.62 $16,298.23
74 $16,298.23 $180.97 $0.00 $92.15 $16,571.35
75 $16,571.35 $180.97 $0.00 $93.70 $16,846.02
76 $16,846.02 $180.97 $0.00 $95.25 $17,122.24
77 $17,122.24 $180.97 $0.00 $96.81 $17,400.02
78 $17,400.02 $180.97 $0.00 $98.38 $17,679.37
79 $17,679.37 $180.97 $0.00 $99.96 $17,960.30
80 $17,960.30 $180.97 $0.00 $101.55 $18,242.82
81 $18,242.82 $180.97 $0.00 $103.15 $18,526.94
82 $18,526.94 $180.97 $0.00 $104.75 $18,812.66
83 $18,812.66 $180.97 $0.00 $106.37 $19,100.00
84 $19,100.00 $180.97 $0.00 $107.99 $19,388.96
85 $19,388.96 $180.97 $0.00 $109.63 $19,679.56
86 $19,679.56 $180.97 $0.00 $111.27 $19,971.80
87 $19,971.80 $180.97 $0.00 $112.92 $20,265.69
88 $20,265.69 $180.97 $0.00 $114.59 $20,561.25
89 $20,561.25 $180.97 $0.00 $116.26 $20,858.48
90 $20,858.48 $180.97 $0.00 $117.94 $21,157.39
91 $21,157.39 $180.97 $0.00 $119.63 $21,457.99
92 $21,457.99 $180.97 $0.00 $121.33 $21,760.29
93 $21,760.29 $180.97 $0.00 $123.04 $22,064.30
94 $22,064.30 $180.97 $0.00 $124.75 $22,370.02
95 $22,370.02 $180.97 $0.00 $126.48 $22,677.47
96 $22,677.47 $180.97 $0.00 $128.22 $22,986.66
97 $22,986.66 $180.97 $0.00 $129.97 $23,297.60
98 $23,297.60 $180.97 $0.00 $131.73 $23,610.30
99 $23,610.30 $180.97 $0.00 $133.50 $23,924.77
100 $23,924.77 $180.97 $0.00 $135.27 $24,241.01
101 $24,241.01 $180.97 $0.00 $137.06 $24,559.04
102 $24,559.04 $180.97 $0.00 $138.86 $24,878.87
103 $24,878.87 $180.97 $0.00 $140.67 $25,200.51
104 $25,200.51 $180.97 $0.00 $142.49 $25,523.97
105 $25,523.97 $180.97 $0.00 $144.32 $25,849.26
106 $25,849.26 $180.97 $0.00 $146.16 $26,176.39
107 $26,176.39 $180.97 $0.00 $148.01 $26,505.37
108 $26,505.37 $180.97 $0.00 $149.87 $26,836.21
109 $26,836.21 $180.97 $0.00 $151.74 $27,168.92
110 $27,168.92 $180.97 $0.00 $153.62 $27,503.51
111 $27,503.51 $180.97 $0.00 $155.51 $27,839.99
112 $27,839.99 $180.97 $0.00 $157.41 $28,178.37
113 $28,178.37 $180.97 $0.00 $159.32 $28,518.66
114 $28,518.66 $180.97 $0.00 $161.25 $28,860.88
115 $28,860.88 $180.97 $0.00 $163.18 $29,205.03
116 $29,205.03 $180.97 $0.00 $165.13 $29,551.13
117 $29,551.13 $180.97 $0.00 $167.09 $29,899.19
118 $29,899.19 $180.97 $0.00 $169.05 $30,249.21
119 $30,249.21 $180.97 $0.00 $171.03 $30,601.21
120 $30,601.21 $180.97 $0.00 $173.02 $30,955.20
121 $30,955.20 $180.97 $0.00 $175.03 $31,311.20
122 $31,311.20 $180.97 $0.00 $177.04 $31,669.21
123 $31,669.21 $180.97 $0.00 $179.06 $32,029.24
124 $32,029.24 $180.97 $0.00 $181.10 $32,391.31
125 $32,391.31 $180.97 $0.00 $183.15 $32,755.43
126 $32,755.43 $180.97 $0.00 $185.20 $33,121.60
127 $33,121.60 $180.97 $0.00 $187.27 $33,489.84
128 $33,489.84 $180.97 $0.00 $189.36 $33,860.17
129 $33,860.17 $180.97 $0.00 $191.45 $34,232.59
130 $34,232.59 $180.97 $0.00 $193.56 $34,607.12
131 $34,607.12 $180.97 $0.00 $195.67 $34,983.76
132 $34,983.76 $180.97 $0.00 $197.80 $35,362.53
133 $35,362.53 $180.97 $0.00 $199.94 $35,743.44
134 $35,743.44 $180.97 $0.00 $202.10 $36,126.51
135 $36,126.51 $180.97 $0.00 $204.26 $36,511.74
136 $36,511.74 $180.97 $0.00 $206.44 $36,899.15
137 $36,899.15 $180.97 $0.00 $208.63 $37,288.75
138 $37,288.75 $180.97 $0.00 $210.84 $37,680.56
139 $37,680.56 $180.97 $0.00 $213.05 $38,074.58
140 $38,074.58 $180.97 $0.00 $215.28 $38,470.83
141 $38,470.83 $180.97 $0.00 $217.52 $38,869.32
142 $38,869.32 $180.97 $0.00 $219.77 $39,270.06
143 $39,270.06 $180.97 $0.00 $222.04 $39,673.07
144 $39,673.07 $180.97 $0.00 $224.32 $40,078.36
145 $40,078.36 $180.97 $0.00 $226.61 $40,485.94
146 $40,485.94 $180.97 $0.00 $228.91 $40,895.82
147 $40,895.82 $180.97 $0.00 $231.23 $41,308.02
148 $41,308.02 $180.97 $0.00 $233.56 $41,722.55
149 $41,722.55 $180.97 $0.00 $235.91 $42,139.43
150 $42,139.43 $180.97 $0.00 $238.26 $42,558.66
151 $42,558.66 $180.97 $0.00 $240.63 $42,980.26
152 $42,980.26 $180.97 $0.00 $243.02 $43,404.25
153 $43,404.25 $180.97 $0.00 $245.41 $43,830.63
154 $43,830.63 $180.97 $0.00 $247.82 $44,259.42
155 $44,259.42 $180.97 $0.00 $250.25 $44,690.64
156 $44,690.64 $180.97 $0.00 $252.69 $45,124.30
157 $45,124.30 $180.97 $0.00 $255.14 $45,560.41
158 $45,560.41 $180.97 $0.00 $257.61 $45,998.99
159 $45,998.99 $180.97 $0.00 $260.08 $46,440.04
160 $46,440.04 $180.97 $0.00 $262.58 $46,883.59
161 $46,883.59 $180.97 $0.00 $265.09 $47,329.65
162 $47,329.65 $180.97 $0.00 $267.61 $47,778.23
163 $47,778.23 $180.97 $0.00 $270.15 $48,229.35
164 $48,229.35 $180.97 $0.00 $272.70 $48,683.02
165 $48,683.02 $180.97 $0.00 $275.26 $49,139.25
166 $49,139.25 $180.97 $0.00 $277.84 $49,598.06
167 $49,598.06 $180.97 $0.00 $280.43 $50,059.46
168 $50,059.46 $180.97 $0.00 $283.04 $50,523.47
169 $50,523.47 $180.97 $0.00 $285.67 $50,990.11
170 $50,990.11 $180.97 $0.00 $288.31 $51,459.39
171 $51,459.39 $180.97 $0.00 $290.96 $51,931.32
172 $51,931.32 $180.97 $0.00 $293.63 $52,405.92
173 $52,405.92 $180.97 $0.00 $296.31 $52,883.20
174 $52,883.20 $180.97 $0.00 $299.01 $53,363.18
175 $53,363.18 $180.97 $0.00 $301.72 $53,845.87
176 $53,845.87 $180.97 $0.00 $304.45 $54,331.29
177 $54,331.29 $180.97 $0.00 $307.20 $54,819.46
178 $54,819.46 $180.97 $0.00 $309.96 $55,310.39
179 $55,310.39 $180.97 $0.00 $312.73 $55,804.09
180 $55,804.09 $180.97 $0.00 $315.52 $56,300.58
181 $56,300.58 $180.97 $0.00 $318.33 $56,799.88
182 $56,799.88 $180.97 $0.00 $321.15 $57,302.00
183 $57,302.00 $180.97 $0.00 $323.99 $57,806.96
184 $57,806.96 $180.97 $0.00 $326.85 $58,314.78
185 $58,314.78 $180.97 $0.00 $329.72 $58,825.47
186 $58,825.47 $180.97 $0.00 $332.61 $59,339.05
187 $59,339.05 $180.97 $0.00 $335.51 $59,855.53
188 $59,855.53 $180.97 $0.00 $338.43 $60,374.93
189 $60,374.93 $180.97 $0.00 $341.37 $60,897.27
190 $60,897.27 $180.97 $0.00 $344.32 $61,422.56
191 $61,422.56 $180.97 $0.00 $347.29 $61,950.82
192 $61,950.82 $180.97 $0.00 $350.28 $62,482.07
193 $62,482.07 $180.97 $0.00 $353.28 $63,016.32
194 $63,016.32 $180.97 $0.00 $356.30 $63,553.59
195 $63,553.59 $180.97 $0.00 $359.34 $64,093.90
196 $64,093.90 $180.97 $0.00 $362.40 $64,637.27
197 $64,637.27 $180.97 $0.00 $365.47 $65,183.71
198 $65,183.71 $180.97 $0.00 $368.56 $65,733.24
199 $65,733.24 $180.97 $0.00 $371.67 $66,285.88
200 $66,285.88 $180.97 $0.00 $374.79 $66,841.64
201 $66,841.64 $180.97 $0.00 $377.93 $67,400.54
202 $67,400.54 $180.97 $0.00 $381.09 $67,962.60
203 $67,962.60 $180.97 $0.00 $384.27 $68,527.84
204 $68,527.84 $180.97 $0.00 $387.47 $69,096.28
205 $69,096.28 $180.97 $0.00 $390.68 $69,667.93
206 $69,667.93 $180.97 $0.00 $393.91 $70,242.81
207 $70,242.81 $180.97 $0.00 $397.16 $70,820.94
208 $70,820.94 $180.97 $0.00 $400.43 $71,402.34
209 $71,402.34 $180.97 $0.00 $403.72 $71,987.03
210 $71,987.03 $180.97 $0.00 $407.03 $72,575.03
211 $72,575.03 $180.97 $0.00 $410.35 $73,166.35
212 $73,166.35 $180.97 $0.00 $413.69 $73,761.01
213 $73,761.01 $180.97 $0.00 $417.06 $74,359.04
214 $74,359.04 $180.97 $0.00 $420.44 $74,960.45
215 $74,960.45 $180.97 $0.00 $423.84 $75,565.26
216 $75,565.26 $180.97 $0.00 $427.26 $76,173.49
217 $76,173.49 $180.97 $39,726.06 $430.70 $37,059.10
218 $37,059.10 $180.97 $0.00 $209.54 $37,449.61
219 $37,449.61 $180.97 $0.00 $211.75 $37,842.33
220 $37,842.33 $180.97 $0.00 $213.97 $38,237.27
221 $38,237.27 $180.97 $0.00 $216.20 $38,634.44
222 $38,634.44 $180.97 $0.00 $218.44 $39,033.85
223 $39,033.85 $180.97 $0.00 $220.70 $39,435.52
224 $39,435.52 $180.97 $0.00 $222.97 $39,839.46
225 $39,839.46 $180.97 $0.00 $225.26 $40,245.69
226 $40,245.69 $180.97 $0.00 $227.55 $40,654.21
227 $40,654.21 $180.97 $0.00 $229.86 $41,065.04
228 $41,065.04 $180.97 $0.00 $232.19 $41,478.20
229 $41,478.20 $0.00 $41,712.37 $234.52 $0.35