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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$80,415
Monthly savings required$637

How much will it cost to send your child to Career Point College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $321,661.45 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $636.55 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$31,010.00
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 $636.55 $0.00 $0.00 $636.55
2 $636.55 $636.55 $0.00 $3.60 $1,276.70
3 $1,276.70 $636.55 $0.00 $7.22 $1,920.47
4 $1,920.47 $636.55 $0.00 $10.86 $2,567.88
5 $2,567.88 $636.55 $0.00 $14.52 $3,218.95
6 $3,218.95 $636.55 $0.00 $18.20 $3,873.70
7 $3,873.70 $636.55 $0.00 $21.90 $4,532.15
8 $4,532.15 $636.55 $0.00 $25.63 $5,194.33
9 $5,194.33 $636.55 $0.00 $29.37 $5,860.25
10 $5,860.25 $636.55 $0.00 $33.13 $6,529.93
11 $6,529.93 $636.55 $0.00 $36.92 $7,203.40
12 $7,203.40 $636.55 $0.00 $40.73 $7,880.68
13 $7,880.68 $636.55 $0.00 $44.56 $8,561.79
14 $8,561.79 $636.55 $0.00 $48.41 $9,246.75
15 $9,246.75 $636.55 $0.00 $52.28 $9,935.58
16 $9,935.58 $636.55 $0.00 $56.18 $10,628.31
17 $10,628.31 $636.55 $0.00 $60.09 $11,324.95
18 $11,324.95 $636.55 $0.00 $64.03 $12,025.53
19 $12,025.53 $636.55 $0.00 $67.99 $12,730.07
20 $12,730.07 $636.55 $0.00 $71.98 $13,438.60
21 $13,438.60 $636.55 $0.00 $75.98 $14,151.13
22 $14,151.13 $636.55 $0.00 $80.01 $14,867.69
23 $14,867.69 $636.55 $0.00 $84.06 $15,588.30
24 $15,588.30 $636.55 $0.00 $88.14 $16,312.99
25 $16,312.99 $636.55 $0.00 $92.24 $17,041.78
26 $17,041.78 $636.55 $0.00 $96.36 $17,774.69
27 $17,774.69 $636.55 $0.00 $100.50 $18,511.74
28 $18,511.74 $636.55 $0.00 $104.67 $19,252.96
29 $19,252.96 $636.55 $0.00 $108.86 $19,998.37
30 $19,998.37 $636.55 $0.00 $113.07 $20,747.99
31 $20,747.99 $636.55 $0.00 $117.31 $21,501.85
32 $21,501.85 $636.55 $0.00 $121.57 $22,259.97
33 $22,259.97 $636.55 $0.00 $125.86 $23,022.38
34 $23,022.38 $636.55 $0.00 $130.17 $23,789.10
35 $23,789.10 $636.55 $0.00 $134.51 $24,560.16
36 $24,560.16 $636.55 $0.00 $138.87 $25,335.58
37 $25,335.58 $636.55 $0.00 $143.25 $26,115.38
38 $26,115.38 $636.55 $0.00 $147.66 $26,899.59
39 $26,899.59 $636.55 $0.00 $152.09 $27,688.23
40 $27,688.23 $636.55 $0.00 $156.55 $28,481.33
41 $28,481.33 $636.55 $0.00 $161.04 $29,278.92
42 $29,278.92 $636.55 $0.00 $165.55 $30,081.02
43 $30,081.02 $636.55 $0.00 $170.08 $30,887.65
44 $30,887.65 $636.55 $0.00 $174.64 $31,698.84
45 $31,698.84 $636.55 $0.00 $179.23 $32,514.62
46 $32,514.62 $636.55 $0.00 $183.84 $33,335.01
47 $33,335.01 $636.55 $0.00 $188.48 $34,160.04
48 $34,160.04 $636.55 $0.00 $193.15 $34,989.74
49 $34,989.74 $636.55 $0.00 $197.84 $35,824.13
50 $35,824.13 $636.55 $0.00 $202.55 $36,663.23
51 $36,663.23 $636.55 $0.00 $207.30 $37,507.08
52 $37,507.08 $636.55 $0.00 $212.07 $38,355.70
53 $38,355.70 $636.55 $0.00 $216.87 $39,209.12
54 $39,209.12 $636.55 $0.00 $221.69 $40,067.36
55 $40,067.36 $636.55 $0.00 $226.55 $40,930.46
56 $40,930.46 $636.55 $0.00 $231.43 $41,798.44
57 $41,798.44 $636.55 $0.00 $236.33 $42,671.32
58 $42,671.32 $636.55 $0.00 $241.27 $43,549.14
59 $43,549.14 $636.55 $0.00 $246.23 $44,431.92
60 $44,431.92 $636.55 $0.00 $251.22 $45,319.69
61 $45,319.69 $636.55 $0.00 $256.24 $46,212.48
62 $46,212.48 $636.55 $0.00 $261.29 $47,110.32
63 $47,110.32 $636.55 $0.00 $266.37 $48,013.24
64 $48,013.24 $636.55 $0.00 $271.47 $48,921.26
65 $48,921.26 $636.55 $0.00 $276.61 $49,834.42
66 $49,834.42 $636.55 $0.00 $281.77 $50,752.74
67 $50,752.74 $636.55 $0.00 $286.96 $51,676.25
68 $51,676.25 $636.55 $0.00 $292.19 $52,604.99
69 $52,604.99 $636.55 $0.00 $297.44 $53,538.98
70 $53,538.98 $636.55 $0.00 $302.72 $54,478.25
71 $54,478.25 $636.55 $0.00 $308.03 $55,422.83
72 $55,422.83 $636.55 $0.00 $313.37 $56,372.75
73 $56,372.75 $636.55 $0.00 $318.74 $57,328.04
74 $57,328.04 $636.55 $0.00 $324.14 $58,288.73
75 $58,288.73 $636.55 $0.00 $329.57 $59,254.85
76 $59,254.85 $636.55 $0.00 $335.04 $60,226.44
77 $60,226.44 $636.55 $0.00 $340.53 $61,203.52
78 $61,203.52 $636.55 $0.00 $346.05 $62,186.12
79 $62,186.12 $636.55 $0.00 $351.61 $63,174.28
80 $63,174.28 $636.55 $0.00 $357.20 $64,168.03
81 $64,168.03 $636.55 $0.00 $362.82 $65,167.40
82 $65,167.40 $636.55 $0.00 $368.47 $66,172.42
83 $66,172.42 $636.55 $0.00 $374.15 $67,183.12
84 $67,183.12 $636.55 $0.00 $379.86 $68,199.53
85 $68,199.53 $636.55 $0.00 $385.61 $69,221.69
86 $69,221.69 $636.55 $0.00 $391.39 $70,249.63
87 $70,249.63 $636.55 $0.00 $397.20 $71,283.38
88 $71,283.38 $636.55 $0.00 $403.05 $72,322.98
89 $72,322.98 $636.55 $0.00 $408.92 $73,368.45
90 $73,368.45 $636.55 $0.00 $414.84 $74,419.84
91 $74,419.84 $636.55 $0.00 $420.78 $75,477.17
92 $75,477.17 $636.55 $0.00 $426.76 $76,540.48
93 $76,540.48 $636.55 $0.00 $432.77 $77,609.80
94 $77,609.80 $636.55 $0.00 $438.82 $78,685.17
95 $78,685.17 $636.55 $0.00 $444.90 $79,766.62
96 $79,766.62 $636.55 $0.00 $451.01 $80,854.18
97 $80,854.18 $636.55 $0.00 $457.16 $81,947.89
98 $81,947.89 $636.55 $0.00 $463.35 $83,047.79
99 $83,047.79 $636.55 $0.00 $469.56 $84,153.90
100 $84,153.90 $636.55 $0.00 $475.82 $85,266.27
101 $85,266.27 $636.55 $0.00 $482.11 $86,384.93
102 $86,384.93 $636.55 $0.00 $488.43 $87,509.91
103 $87,509.91 $636.55 $0.00 $494.79 $88,641.25
104 $88,641.25 $636.55 $0.00 $501.19 $89,778.99
105 $89,778.99 $636.55 $0.00 $507.62 $90,923.16
106 $90,923.16 $636.55 $0.00 $514.09 $92,073.80
107 $92,073.80 $636.55 $0.00 $520.60 $93,230.95
108 $93,230.95 $636.55 $0.00 $527.14 $94,394.64
109 $94,394.64 $636.55 $0.00 $533.72 $95,564.91
110 $95,564.91 $636.55 $0.00 $540.34 $96,741.80
111 $96,741.80 $636.55 $0.00 $546.99 $97,925.34
112 $97,925.34 $636.55 $0.00 $553.68 $99,115.57
113 $99,115.57 $636.55 $0.00 $560.41 $100,312.53
114 $100,312.53 $636.55 $0.00 $567.18 $101,516.26
115 $101,516.26 $636.55 $0.00 $573.99 $102,726.80
116 $102,726.80 $636.55 $0.00 $580.83 $103,944.18
117 $103,944.18 $636.55 $0.00 $587.72 $105,168.45
118 $105,168.45 $636.55 $0.00 $594.64 $106,399.64
119 $106,399.64 $636.55 $0.00 $601.60 $107,637.79
120 $107,637.79 $636.55 $0.00 $608.60 $108,882.94
121 $108,882.94 $636.55 $0.00 $615.64 $110,135.13
122 $110,135.13 $636.55 $0.00 $622.72 $111,394.40
123 $111,394.40 $636.55 $0.00 $629.84 $112,660.79
124 $112,660.79 $636.55 $0.00 $637.00 $113,934.34
125 $113,934.34 $636.55 $0.00 $644.20 $115,215.09
126 $115,215.09 $636.55 $0.00 $651.44 $116,503.08
127 $116,503.08 $636.55 $0.00 $658.73 $117,798.36
128 $117,798.36 $636.55 $0.00 $666.05 $119,100.96
129 $119,100.96 $636.55 $0.00 $673.41 $120,410.92
130 $120,410.92 $636.55 $0.00 $680.82 $121,728.29
131 $121,728.29 $636.55 $0.00 $688.27 $123,053.11
132 $123,053.11 $636.55 $0.00 $695.76 $124,385.42
133 $124,385.42 $636.55 $0.00 $703.29 $125,725.26
134 $125,725.26 $636.55 $0.00 $710.87 $127,072.68
135 $127,072.68 $636.55 $0.00 $718.49 $128,427.72
136 $128,427.72 $636.55 $0.00 $726.15 $129,790.42
137 $129,790.42 $636.55 $0.00 $733.85 $131,160.82
138 $131,160.82 $636.55 $0.00 $741.60 $132,538.97
139 $132,538.97 $636.55 $0.00 $749.39 $133,924.91
140 $133,924.91 $636.55 $0.00 $757.23 $135,318.69
141 $135,318.69 $636.55 $0.00 $765.11 $136,720.35
142 $136,720.35 $636.55 $0.00 $773.04 $138,129.94
143 $138,129.94 $636.55 $0.00 $781.01 $139,547.50
144 $139,547.50 $636.55 $0.00 $789.02 $140,973.07
145 $140,973.07 $636.55 $0.00 $797.08 $142,406.70
146 $142,406.70 $636.55 $0.00 $805.19 $143,848.44
147 $143,848.44 $636.55 $0.00 $813.34 $145,298.33
148 $145,298.33 $636.55 $0.00 $821.54 $146,756.42
149 $146,756.42 $636.55 $0.00 $829.78 $148,222.75
150 $148,222.75 $636.55 $0.00 $838.07 $149,697.37
151 $149,697.37 $636.55 $0.00 $846.41 $151,180.33
152 $151,180.33 $636.55 $0.00 $854.80 $152,671.68
153 $152,671.68 $636.55 $0.00 $863.23 $154,171.46
154 $154,171.46 $636.55 $0.00 $871.71 $155,679.72
155 $155,679.72 $636.55 $0.00 $880.24 $157,196.51
156 $157,196.51 $636.55 $0.00 $888.81 $158,721.87
157 $158,721.87 $636.55 $0.00 $897.44 $160,255.86
158 $160,255.86 $636.55 $0.00 $906.11 $161,798.52
159 $161,798.52 $636.55 $0.00 $914.83 $163,349.90
160 $163,349.90 $636.55 $0.00 $923.60 $164,910.05
161 $164,910.05 $636.55 $0.00 $932.43 $166,479.03
162 $166,479.03 $636.55 $0.00 $941.30 $168,056.88
163 $168,056.88 $636.55 $0.00 $950.22 $169,643.65
164 $169,643.65 $636.55 $0.00 $959.19 $171,239.39
165 $171,239.39 $636.55 $0.00 $968.21 $172,844.15
166 $172,844.15 $636.55 $0.00 $977.29 $174,457.99
167 $174,457.99 $636.55 $0.00 $986.41 $176,080.95
168 $176,080.95 $636.55 $0.00 $995.59 $177,713.09
169 $177,713.09 $636.55 $0.00 $1,004.82 $179,354.46
170 $179,354.46 $636.55 $0.00 $1,014.10 $181,005.11
171 $181,005.11 $636.55 $0.00 $1,023.43 $182,665.09
172 $182,665.09 $636.55 $0.00 $1,032.81 $184,334.45
173 $184,334.45 $636.55 $0.00 $1,042.25 $186,013.25
174 $186,013.25 $636.55 $0.00 $1,051.75 $187,701.55
175 $187,701.55 $636.55 $0.00 $1,061.29 $189,399.39
176 $189,399.39 $636.55 $0.00 $1,070.89 $191,106.83
177 $191,106.83 $636.55 $0.00 $1,080.55 $192,823.93
178 $192,823.93 $636.55 $0.00 $1,090.25 $194,550.73
179 $194,550.73 $636.55 $0.00 $1,100.02 $196,287.30
180 $196,287.30 $636.55 $0.00 $1,109.84 $198,033.69
181 $198,033.69 $636.55 $0.00 $1,119.71 $199,789.95
182 $199,789.95 $636.55 $0.00 $1,129.64 $201,556.14
183 $201,556.14 $636.55 $0.00 $1,139.63 $203,332.32
184 $203,332.32 $636.55 $0.00 $1,149.67 $205,118.54
185 $205,118.54 $636.55 $0.00 $1,159.77 $206,914.86
186 $206,914.86 $636.55 $0.00 $1,169.93 $208,721.34
187 $208,721.34 $636.55 $0.00 $1,180.14 $210,538.03
188 $210,538.03 $636.55 $0.00 $1,190.41 $212,364.99
189 $212,364.99 $636.55 $0.00 $1,200.74 $214,202.28
190 $214,202.28 $636.55 $0.00 $1,211.13 $216,049.96
191 $216,049.96 $636.55 $0.00 $1,221.58 $217,908.09
192 $217,908.09 $636.55 $0.00 $1,232.08 $219,776.72
193 $219,776.72 $636.55 $0.00 $1,242.65 $221,655.92
194 $221,655.92 $636.55 $0.00 $1,253.27 $223,545.74
195 $223,545.74 $636.55 $0.00 $1,263.96 $225,446.25
196 $225,446.25 $636.55 $0.00 $1,274.71 $227,357.51
197 $227,357.51 $636.55 $0.00 $1,285.51 $229,279.57
198 $229,279.57 $636.55 $0.00 $1,296.38 $231,212.50
199 $231,212.50 $636.55 $0.00 $1,307.31 $233,156.36
200 $233,156.36 $636.55 $0.00 $1,318.30 $235,111.21
201 $235,111.21 $636.55 $0.00 $1,329.35 $237,077.11
202 $237,077.11 $636.55 $0.00 $1,340.47 $239,054.13
203 $239,054.13 $636.55 $0.00 $1,351.65 $241,042.33
204 $241,042.33 $636.55 $0.00 $1,362.89 $243,041.77
205 $243,041.77 $636.55 $0.00 $1,374.19 $245,052.51
206 $245,052.51 $636.55 $0.00 $1,385.56 $247,074.62
207 $247,074.62 $636.55 $0.00 $1,397.00 $249,108.17
208 $249,108.17 $636.55 $0.00 $1,408.49 $251,153.21
209 $251,153.21 $636.55 $0.00 $1,420.06 $253,209.82
210 $253,209.82 $636.55 $0.00 $1,431.69 $255,278.06
211 $255,278.06 $636.55 $0.00 $1,443.38 $257,357.99
212 $257,357.99 $636.55 $0.00 $1,455.14 $259,449.68
213 $259,449.68 $636.55 $0.00 $1,466.97 $261,553.20
214 $261,553.20 $636.55 $0.00 $1,478.86 $263,668.61
215 $263,668.61 $636.55 $0.00 $1,490.82 $265,795.98
216 $265,795.98 $636.55 $0.00 $1,502.85 $267,935.38
217 $267,935.38 $636.55 $74,629.26 $1,514.95 $195,457.62
218 $195,457.62 $636.55 $0.00 $1,105.15 $197,199.32
219 $197,199.32 $636.55 $0.00 $1,114.99 $198,950.86
220 $198,950.86 $636.55 $0.00 $1,124.90 $200,712.31
221 $200,712.31 $636.55 $0.00 $1,134.86 $202,483.72
222 $202,483.72 $636.55 $0.00 $1,144.87 $204,265.14
223 $204,265.14 $636.55 $0.00 $1,154.94 $206,056.63
224 $206,056.63 $636.55 $0.00 $1,165.07 $207,858.25
225 $207,858.25 $636.55 $0.00 $1,175.26 $209,670.06
226 $209,670.06 $636.55 $0.00 $1,185.51 $211,492.12
227 $211,492.12 $636.55 $0.00 $1,195.81 $213,324.48
228 $213,324.48 $636.55 $0.00 $1,206.17 $215,167.20
229 $215,167.20 $636.55 $78,360.73 $1,216.59 $138,659.61
230 $138,659.61 $636.55 $0.00 $784.00 $140,080.16
231 $140,080.16 $636.55 $0.00 $792.03 $141,508.74
232 $141,508.74 $636.55 $0.00 $800.11 $142,945.40
233 $142,945.40 $636.55 $0.00 $808.23 $144,390.18
234 $144,390.18 $636.55 $0.00 $816.40 $145,843.13
235 $145,843.13 $636.55 $0.00 $824.62 $147,304.30
236 $147,304.30 $636.55 $0.00 $832.88 $148,773.73
237 $148,773.73 $636.55 $0.00 $841.19 $150,251.47
238 $150,251.47 $636.55 $0.00 $849.54 $151,737.56
239 $151,737.56 $636.55 $0.00 $857.95 $153,232.06
240 $153,232.06 $636.55 $0.00 $866.40 $154,735.01
241 $154,735.01 $636.55 $82,278.76 $874.89 $73,967.69
242 $73,967.69 $636.55 $0.00 $418.22 $75,022.46
243 $75,022.46 $636.55 $0.00 $424.19 $76,083.20
244 $76,083.20 $636.55 $0.00 $430.19 $77,149.94
245 $77,149.94 $636.55 $0.00 $436.22 $78,222.71
246 $78,222.71 $636.55 $0.00 $442.28 $79,301.54
247 $79,301.54 $636.55 $0.00 $448.38 $80,386.47
248 $80,386.47 $636.55 $0.00 $454.52 $81,477.54
249 $81,477.54 $636.55 $0.00 $460.69 $82,574.78
250 $82,574.78 $636.55 $0.00 $466.89 $83,678.22
251 $83,678.22 $636.55 $0.00 $473.13 $84,787.90
252 $84,787.90 $636.55 $0.00 $479.40 $85,903.85
253 $85,903.85 $0.00 $86,392.70 $485.71 ($3.14)