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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$32,923
Monthly savings required$261

How much will it cost to send your child to Midland College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $131,693.45 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $260.62 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$12,696.00
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 $260.62 $0.00 $0.00 $260.62
2 $260.62 $260.62 $0.00 $1.47 $522.71
3 $522.71 $260.62 $0.00 $2.96 $786.29
4 $786.29 $260.62 $0.00 $4.45 $1,051.36
5 $1,051.36 $260.62 $0.00 $5.94 $1,317.92
6 $1,317.92 $260.62 $0.00 $7.45 $1,585.99
7 $1,585.99 $260.62 $0.00 $8.97 $1,855.58
8 $1,855.58 $260.62 $0.00 $10.49 $2,126.69
9 $2,126.69 $260.62 $0.00 $12.02 $2,399.33
10 $2,399.33 $260.62 $0.00 $13.57 $2,673.52
11 $2,673.52 $260.62 $0.00 $15.12 $2,949.26
12 $2,949.26 $260.62 $0.00 $16.68 $3,226.56
13 $3,226.56 $260.62 $0.00 $18.24 $3,505.42
14 $3,505.42 $260.62 $0.00 $19.82 $3,785.86
15 $3,785.86 $260.62 $0.00 $21.41 $4,067.89
16 $4,067.89 $260.62 $0.00 $23.00 $4,351.51
17 $4,351.51 $260.62 $0.00 $24.60 $4,636.73
18 $4,636.73 $260.62 $0.00 $26.22 $4,923.57
19 $4,923.57 $260.62 $0.00 $27.84 $5,212.03
20 $5,212.03 $260.62 $0.00 $29.47 $5,502.12
21 $5,502.12 $260.62 $0.00 $31.11 $5,793.85
22 $5,793.85 $260.62 $0.00 $32.76 $6,087.23
23 $6,087.23 $260.62 $0.00 $34.42 $6,382.27
24 $6,382.27 $260.62 $0.00 $36.09 $6,678.98
25 $6,678.98 $260.62 $0.00 $37.76 $6,977.36
26 $6,977.36 $260.62 $0.00 $39.45 $7,277.43
27 $7,277.43 $260.62 $0.00 $41.15 $7,579.20
28 $7,579.20 $260.62 $0.00 $42.85 $7,882.67
29 $7,882.67 $260.62 $0.00 $44.57 $8,187.86
30 $8,187.86 $260.62 $0.00 $46.30 $8,494.78
31 $8,494.78 $260.62 $0.00 $48.03 $8,803.43
32 $8,803.43 $260.62 $0.00 $49.78 $9,113.83
33 $9,113.83 $260.62 $0.00 $51.53 $9,425.98
34 $9,425.98 $260.62 $0.00 $53.30 $9,739.90
35 $9,739.90 $260.62 $0.00 $55.07 $10,055.59
36 $10,055.59 $260.62 $0.00 $56.86 $10,373.07
37 $10,373.07 $260.62 $0.00 $58.65 $10,692.34
38 $10,692.34 $260.62 $0.00 $60.46 $11,013.42
39 $11,013.42 $260.62 $0.00 $62.27 $11,336.31
40 $11,336.31 $260.62 $0.00 $64.10 $11,661.03
41 $11,661.03 $260.62 $0.00 $65.93 $11,987.58
42 $11,987.58 $260.62 $0.00 $67.78 $12,315.98
43 $12,315.98 $260.62 $0.00 $69.64 $12,646.24
44 $12,646.24 $260.62 $0.00 $71.50 $12,978.36
45 $12,978.36 $260.62 $0.00 $73.38 $13,312.36
46 $13,312.36 $260.62 $0.00 $75.27 $13,648.25
47 $13,648.25 $260.62 $0.00 $77.17 $13,986.04
48 $13,986.04 $260.62 $0.00 $79.08 $14,325.74
49 $14,325.74 $260.62 $0.00 $81.00 $14,667.36
50 $14,667.36 $260.62 $0.00 $82.93 $15,010.91
51 $15,010.91 $260.62 $0.00 $84.87 $15,356.40
52 $15,356.40 $260.62 $0.00 $86.83 $15,703.85
53 $15,703.85 $260.62 $0.00 $88.79 $16,053.26
54 $16,053.26 $260.62 $0.00 $90.77 $16,404.65
55 $16,404.65 $260.62 $0.00 $92.75 $16,758.02
56 $16,758.02 $260.62 $0.00 $94.75 $17,113.39
57 $17,113.39 $260.62 $0.00 $96.76 $17,470.77
58 $17,470.77 $260.62 $0.00 $98.78 $17,830.17
59 $17,830.17 $260.62 $0.00 $100.81 $18,191.60
60 $18,191.60 $260.62 $0.00 $102.86 $18,555.08
61 $18,555.08 $260.62 $0.00 $104.91 $18,920.61
62 $18,920.61 $260.62 $0.00 $106.98 $19,288.21
63 $19,288.21 $260.62 $0.00 $109.06 $19,657.89
64 $19,657.89 $260.62 $0.00 $111.15 $20,029.66
65 $20,029.66 $260.62 $0.00 $113.25 $20,403.53
66 $20,403.53 $260.62 $0.00 $115.36 $20,779.51
67 $20,779.51 $260.62 $0.00 $117.49 $21,157.62
68 $21,157.62 $260.62 $0.00 $119.63 $21,537.87
69 $21,537.87 $260.62 $0.00 $121.78 $21,920.27
70 $21,920.27 $260.62 $0.00 $123.94 $22,304.83
71 $22,304.83 $260.62 $0.00 $126.11 $22,691.56
72 $22,691.56 $260.62 $0.00 $128.30 $23,080.48
73 $23,080.48 $260.62 $0.00 $130.50 $23,471.60
74 $23,471.60 $260.62 $0.00 $132.71 $23,864.93
75 $23,864.93 $260.62 $0.00 $134.94 $24,260.49
76 $24,260.49 $260.62 $0.00 $137.17 $24,658.28
77 $24,658.28 $260.62 $0.00 $139.42 $25,058.32
78 $25,058.32 $260.62 $0.00 $141.68 $25,460.62
79 $25,460.62 $260.62 $0.00 $143.96 $25,865.20
80 $25,865.20 $260.62 $0.00 $146.25 $26,272.07
81 $26,272.07 $260.62 $0.00 $148.55 $26,681.24
82 $26,681.24 $260.62 $0.00 $150.86 $27,092.72
83 $27,092.72 $260.62 $0.00 $153.19 $27,506.53
84 $27,506.53 $260.62 $0.00 $155.53 $27,922.68
85 $27,922.68 $260.62 $0.00 $157.88 $28,341.18
86 $28,341.18 $260.62 $0.00 $160.25 $28,762.05
87 $28,762.05 $260.62 $0.00 $162.62 $29,185.29
88 $29,185.29 $260.62 $0.00 $165.02 $29,610.93
89 $29,610.93 $260.62 $0.00 $167.42 $30,038.97
90 $30,038.97 $260.62 $0.00 $169.84 $30,469.43
91 $30,469.43 $260.62 $0.00 $172.28 $30,902.33
92 $30,902.33 $260.62 $0.00 $174.73 $31,337.68
93 $31,337.68 $260.62 $0.00 $177.19 $31,775.49
94 $31,775.49 $260.62 $0.00 $179.66 $32,215.77
95 $32,215.77 $260.62 $0.00 $182.15 $32,658.54
96 $32,658.54 $260.62 $0.00 $184.66 $33,103.82
97 $33,103.82 $260.62 $0.00 $187.17 $33,551.61
98 $33,551.61 $260.62 $0.00 $189.71 $34,001.94
99 $34,001.94 $260.62 $0.00 $192.25 $34,454.81
100 $34,454.81 $260.62 $0.00 $194.81 $34,910.24
101 $34,910.24 $260.62 $0.00 $197.39 $35,368.25
102 $35,368.25 $260.62 $0.00 $199.98 $35,828.85
103 $35,828.85 $260.62 $0.00 $202.58 $36,292.05
104 $36,292.05 $260.62 $0.00 $205.20 $36,757.87
105 $36,757.87 $260.62 $0.00 $207.83 $37,226.32
106 $37,226.32 $260.62 $0.00 $210.48 $37,697.42
107 $37,697.42 $260.62 $0.00 $213.15 $38,171.19
108 $38,171.19 $260.62 $0.00 $215.83 $38,647.64
109 $38,647.64 $260.62 $0.00 $218.52 $39,126.78
110 $39,126.78 $260.62 $0.00 $221.23 $39,608.63
111 $39,608.63 $260.62 $0.00 $223.95 $40,093.20
112 $40,093.20 $260.62 $0.00 $226.69 $40,580.51
113 $40,580.51 $260.62 $0.00 $229.45 $41,070.58
114 $41,070.58 $260.62 $0.00 $232.22 $41,563.42
115 $41,563.42 $260.62 $0.00 $235.01 $42,059.05
116 $42,059.05 $260.62 $0.00 $237.81 $42,557.48
117 $42,557.48 $260.62 $0.00 $240.63 $43,058.73
118 $43,058.73 $260.62 $0.00 $243.46 $43,562.81
119 $43,562.81 $260.62 $0.00 $246.31 $44,069.74
120 $44,069.74 $260.62 $0.00 $249.18 $44,579.54
121 $44,579.54 $260.62 $0.00 $252.06 $45,092.22
122 $45,092.22 $260.62 $0.00 $254.96 $45,607.80
123 $45,607.80 $260.62 $0.00 $257.87 $46,126.29
124 $46,126.29 $260.62 $0.00 $260.80 $46,647.71
125 $46,647.71 $260.62 $0.00 $263.75 $47,172.08
126 $47,172.08 $260.62 $0.00 $266.72 $47,699.42
127 $47,699.42 $260.62 $0.00 $269.70 $48,229.74
128 $48,229.74 $260.62 $0.00 $272.70 $48,763.06
129 $48,763.06 $260.62 $0.00 $275.71 $49,299.39
130 $49,299.39 $260.62 $0.00 $278.75 $49,838.76
131 $49,838.76 $260.62 $0.00 $281.80 $50,381.18
132 $50,381.18 $260.62 $0.00 $284.86 $50,926.66
133 $50,926.66 $260.62 $0.00 $287.95 $51,475.23
134 $51,475.23 $260.62 $0.00 $291.05 $52,026.90
135 $52,026.90 $260.62 $0.00 $294.17 $52,581.69
136 $52,581.69 $260.62 $0.00 $297.30 $53,139.61
137 $53,139.61 $260.62 $0.00 $300.46 $53,700.69
138 $53,700.69 $260.62 $0.00 $303.63 $54,264.94
139 $54,264.94 $260.62 $0.00 $306.82 $54,832.38
140 $54,832.38 $260.62 $0.00 $310.03 $55,403.03
141 $55,403.03 $260.62 $0.00 $313.26 $55,976.91
142 $55,976.91 $260.62 $0.00 $316.50 $56,554.03
143 $56,554.03 $260.62 $0.00 $319.76 $57,134.41
144 $57,134.41 $260.62 $0.00 $323.05 $57,718.08
145 $57,718.08 $260.62 $0.00 $326.35 $58,305.05
146 $58,305.05 $260.62 $0.00 $329.67 $58,895.34
147 $58,895.34 $260.62 $0.00 $333.00 $59,488.96
148 $59,488.96 $260.62 $0.00 $336.36 $60,085.94
149 $60,085.94 $260.62 $0.00 $339.73 $60,686.29
150 $60,686.29 $260.62 $0.00 $343.13 $61,290.04
151 $61,290.04 $260.62 $0.00 $346.54 $61,897.20
152 $61,897.20 $260.62 $0.00 $349.98 $62,507.80
153 $62,507.80 $260.62 $0.00 $353.43 $63,121.85
154 $63,121.85 $260.62 $0.00 $356.90 $63,739.37
155 $63,739.37 $260.62 $0.00 $360.39 $64,360.38
156 $64,360.38 $260.62 $0.00 $363.90 $64,984.90
157 $64,984.90 $260.62 $0.00 $367.43 $65,612.95
158 $65,612.95 $260.62 $0.00 $370.99 $66,244.56
159 $66,244.56 $260.62 $0.00 $374.56 $66,879.74
160 $66,879.74 $260.62 $0.00 $378.15 $67,518.51
161 $67,518.51 $260.62 $0.00 $381.76 $68,160.89
162 $68,160.89 $260.62 $0.00 $385.39 $68,806.90
163 $68,806.90 $260.62 $0.00 $389.04 $69,456.56
164 $69,456.56 $260.62 $0.00 $392.72 $70,109.90
165 $70,109.90 $260.62 $0.00 $396.41 $70,766.93
166 $70,766.93 $260.62 $0.00 $400.13 $71,427.68
167 $71,427.68 $260.62 $0.00 $403.86 $72,092.16
168 $72,092.16 $260.62 $0.00 $407.62 $72,760.40
169 $72,760.40 $260.62 $0.00 $411.40 $73,432.42
170 $73,432.42 $260.62 $0.00 $415.20 $74,108.24
171 $74,108.24 $260.62 $0.00 $419.02 $74,787.88
172 $74,787.88 $260.62 $0.00 $422.86 $75,471.36
173 $75,471.36 $260.62 $0.00 $426.73 $76,158.71
174 $76,158.71 $260.62 $0.00 $430.61 $76,849.94
175 $76,849.94 $260.62 $0.00 $434.52 $77,545.08
176 $77,545.08 $260.62 $0.00 $438.45 $78,244.15
177 $78,244.15 $260.62 $0.00 $442.40 $78,947.17
178 $78,947.17 $260.62 $0.00 $446.38 $79,654.17
179 $79,654.17 $260.62 $0.00 $450.38 $80,365.17
180 $80,365.17 $260.62 $0.00 $454.40 $81,080.19
181 $81,080.19 $260.62 $0.00 $458.44 $81,799.25
182 $81,799.25 $260.62 $0.00 $462.50 $82,522.37
183 $82,522.37 $260.62 $0.00 $466.59 $83,249.58
184 $83,249.58 $260.62 $0.00 $470.71 $83,980.91
185 $83,980.91 $260.62 $0.00 $474.84 $84,716.37
186 $84,716.37 $260.62 $0.00 $479.00 $85,455.99
187 $85,455.99 $260.62 $0.00 $483.18 $86,199.79
188 $86,199.79 $260.62 $0.00 $487.39 $86,947.80
189 $86,947.80 $260.62 $0.00 $491.62 $87,700.04
190 $87,700.04 $260.62 $0.00 $495.87 $88,456.53
191 $88,456.53 $260.62 $0.00 $500.15 $89,217.30
192 $89,217.30 $260.62 $0.00 $504.45 $89,982.37
193 $89,982.37 $260.62 $0.00 $508.77 $90,751.76
194 $90,751.76 $260.62 $0.00 $513.12 $91,525.50
195 $91,525.50 $260.62 $0.00 $517.50 $92,303.62
196 $92,303.62 $260.62 $0.00 $521.90 $93,086.14
197 $93,086.14 $260.62 $0.00 $526.32 $93,873.08
198 $93,873.08 $260.62 $0.00 $530.77 $94,664.47
199 $94,664.47 $260.62 $0.00 $535.25 $95,460.34
200 $95,460.34 $260.62 $0.00 $539.75 $96,260.71
201 $96,260.71 $260.62 $0.00 $544.27 $97,065.60
202 $97,065.60 $260.62 $0.00 $548.82 $97,875.04
203 $97,875.04 $260.62 $0.00 $553.40 $98,689.06
204 $98,689.06 $260.62 $0.00 $558.00 $99,507.68
205 $99,507.68 $260.62 $0.00 $562.63 $100,330.93
206 $100,330.93 $260.62 $0.00 $567.29 $101,158.84
207 $101,158.84 $260.62 $0.00 $571.97 $101,991.43
208 $101,991.43 $260.62 $0.00 $576.67 $102,828.72
209 $102,828.72 $260.62 $0.00 $581.41 $103,670.75
210 $103,670.75 $260.62 $0.00 $586.17 $104,517.54
211 $104,517.54 $260.62 $0.00 $590.96 $105,369.12
212 $105,369.12 $260.62 $0.00 $595.77 $106,225.51
213 $106,225.51 $260.62 $0.00 $600.61 $107,086.74
214 $107,086.74 $260.62 $0.00 $605.48 $107,952.84
215 $107,952.84 $260.62 $0.00 $610.38 $108,823.84
216 $108,823.84 $260.62 $0.00 $615.31 $109,699.77
217 $109,699.77 $260.62 $30,554.44 $620.26 $80,026.21
218 $80,026.21 $260.62 $0.00 $452.48 $80,739.31
219 $80,739.31 $260.62 $0.00 $456.51 $81,456.44
220 $81,456.44 $260.62 $0.00 $460.57 $82,177.63
221 $82,177.63 $260.62 $0.00 $464.64 $82,902.89
222 $82,902.89 $260.62 $0.00 $468.74 $83,632.25
223 $83,632.25 $260.62 $0.00 $472.87 $84,365.74
224 $84,365.74 $260.62 $0.00 $477.02 $85,103.38
225 $85,103.38 $260.62 $0.00 $481.19 $85,845.19
226 $85,845.19 $260.62 $0.00 $485.38 $86,591.19
227 $86,591.19 $260.62 $0.00 $489.60 $87,341.41
228 $87,341.41 $260.62 $0.00 $493.84 $88,095.87
229 $88,095.87 $260.62 $32,082.16 $498.11 $56,772.44
230 $56,772.44 $260.62 $0.00 $321.00 $57,354.06
231 $57,354.06 $260.62 $0.00 $324.29 $57,938.97
232 $57,938.97 $260.62 $0.00 $327.60 $58,527.19
233 $58,527.19 $260.62 $0.00 $330.92 $59,118.73
234 $59,118.73 $260.62 $0.00 $334.27 $59,713.62
235 $59,713.62 $260.62 $0.00 $337.63 $60,311.87
236 $60,311.87 $260.62 $0.00 $341.01 $60,913.50
237 $60,913.50 $260.62 $0.00 $344.41 $61,518.53
238 $61,518.53 $260.62 $0.00 $347.83 $62,126.98
239 $62,126.98 $260.62 $0.00 $351.27 $62,738.87
240 $62,738.87 $260.62 $0.00 $354.73 $63,354.22
241 $63,354.22 $260.62 $33,686.27 $358.21 $30,286.78
242 $30,286.78 $260.62 $0.00 $171.25 $30,718.65
243 $30,718.65 $260.62 $0.00 $173.69 $31,152.96
244 $31,152.96 $260.62 $0.00 $176.14 $31,589.72
245 $31,589.72 $260.62 $0.00 $178.61 $32,028.95
246 $32,028.95 $260.62 $0.00 $181.10 $32,470.67
247 $32,470.67 $260.62 $0.00 $183.59 $32,914.88
248 $32,914.88 $260.62 $0.00 $186.11 $33,361.61
249 $33,361.61 $260.62 $0.00 $188.63 $33,810.86
250 $33,810.86 $260.62 $0.00 $191.17 $34,262.65
251 $34,262.65 $260.62 $0.00 $193.73 $34,717.00
252 $34,717.00 $260.62 $0.00 $196.29 $35,173.91
253 $35,173.91 $0.00 $35,370.58 $198.88 $2.21