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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$46,250
Monthly savings required$206

How much will it cost to send your child to Lord Fairfax Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $92,499.49 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $205.55 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$18,749.00
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 $205.55 $0.00 $0.00 $205.55
2 $205.55 $205.55 $0.00 $1.16 $412.26
3 $412.26 $205.55 $0.00 $2.33 $620.14
4 $620.14 $205.55 $0.00 $3.51 $829.20
5 $829.20 $205.55 $0.00 $4.69 $1,039.44
6 $1,039.44 $205.55 $0.00 $5.88 $1,250.87
7 $1,250.87 $205.55 $0.00 $7.07 $1,463.49
8 $1,463.49 $205.55 $0.00 $8.27 $1,677.31
9 $1,677.31 $205.55 $0.00 $9.48 $1,892.34
10 $1,892.34 $205.55 $0.00 $10.70 $2,108.59
11 $2,108.59 $205.55 $0.00 $11.92 $2,326.06
12 $2,326.06 $205.55 $0.00 $13.15 $2,544.76
13 $2,544.76 $205.55 $0.00 $14.39 $2,764.70
14 $2,764.70 $205.55 $0.00 $15.63 $2,985.88
15 $2,985.88 $205.55 $0.00 $16.88 $3,208.31
16 $3,208.31 $205.55 $0.00 $18.14 $3,432.00
17 $3,432.00 $205.55 $0.00 $19.41 $3,656.96
18 $3,656.96 $205.55 $0.00 $20.68 $3,883.19
19 $3,883.19 $205.55 $0.00 $21.96 $4,110.70
20 $4,110.70 $205.55 $0.00 $23.24 $4,339.49
21 $4,339.49 $205.55 $0.00 $24.54 $4,569.58
22 $4,569.58 $205.55 $0.00 $25.84 $4,800.97
23 $4,800.97 $205.55 $0.00 $27.15 $5,033.67
24 $5,033.67 $205.55 $0.00 $28.46 $5,267.68
25 $5,267.68 $205.55 $0.00 $29.78 $5,503.01
26 $5,503.01 $205.55 $0.00 $31.11 $5,739.67
27 $5,739.67 $205.55 $0.00 $32.45 $5,977.67
28 $5,977.67 $205.55 $0.00 $33.80 $6,217.02
29 $6,217.02 $205.55 $0.00 $35.15 $6,457.72
30 $6,457.72 $205.55 $0.00 $36.51 $6,699.78
31 $6,699.78 $205.55 $0.00 $37.88 $6,943.21
32 $6,943.21 $205.55 $0.00 $39.26 $7,188.02
33 $7,188.02 $205.55 $0.00 $40.64 $7,434.21
34 $7,434.21 $205.55 $0.00 $42.03 $7,681.79
35 $7,681.79 $205.55 $0.00 $43.43 $7,930.77
36 $7,930.77 $205.55 $0.00 $44.84 $8,181.16
37 $8,181.16 $205.55 $0.00 $46.26 $8,432.97
38 $8,432.97 $205.55 $0.00 $47.68 $8,686.20
39 $8,686.20 $205.55 $0.00 $49.11 $8,940.86
40 $8,940.86 $205.55 $0.00 $50.55 $9,196.96
41 $9,196.96 $205.55 $0.00 $52.00 $9,454.51
42 $9,454.51 $205.55 $0.00 $53.46 $9,713.52
43 $9,713.52 $205.55 $0.00 $54.92 $9,973.99
44 $9,973.99 $205.55 $0.00 $56.39 $10,235.93
45 $10,235.93 $205.55 $0.00 $57.88 $10,499.36
46 $10,499.36 $205.55 $0.00 $59.36 $10,764.27
47 $10,764.27 $205.55 $0.00 $60.86 $11,030.68
48 $11,030.68 $205.55 $0.00 $62.37 $11,298.60
49 $11,298.60 $205.55 $0.00 $63.88 $11,568.03
50 $11,568.03 $205.55 $0.00 $65.41 $11,838.99
51 $11,838.99 $205.55 $0.00 $66.94 $12,111.48
52 $12,111.48 $205.55 $0.00 $68.48 $12,385.51
53 $12,385.51 $205.55 $0.00 $70.03 $12,661.09
54 $12,661.09 $205.55 $0.00 $71.59 $12,938.23
55 $12,938.23 $205.55 $0.00 $73.15 $13,216.93
56 $13,216.93 $205.55 $0.00 $74.73 $13,497.21
57 $13,497.21 $205.55 $0.00 $76.32 $13,779.08
58 $13,779.08 $205.55 $0.00 $77.91 $14,062.54
59 $14,062.54 $205.55 $0.00 $79.51 $14,347.60
60 $14,347.60 $205.55 $0.00 $81.12 $14,634.27
61 $14,634.27 $205.55 $0.00 $82.74 $14,922.56
62 $14,922.56 $205.55 $0.00 $84.37 $15,212.48
63 $15,212.48 $205.55 $0.00 $86.01 $15,504.04
64 $15,504.04 $205.55 $0.00 $87.66 $15,797.25
65 $15,797.25 $205.55 $0.00 $89.32 $16,092.12
66 $16,092.12 $205.55 $0.00 $90.99 $16,388.66
67 $16,388.66 $205.55 $0.00 $92.66 $16,686.87
68 $16,686.87 $205.55 $0.00 $94.35 $16,986.77
69 $16,986.77 $205.55 $0.00 $96.05 $17,288.37
70 $17,288.37 $205.55 $0.00 $97.75 $17,591.67
71 $17,591.67 $205.55 $0.00 $99.47 $17,896.69
72 $17,896.69 $205.55 $0.00 $101.19 $18,203.43
73 $18,203.43 $205.55 $0.00 $102.92 $18,511.90
74 $18,511.90 $205.55 $0.00 $104.67 $18,822.12
75 $18,822.12 $205.55 $0.00 $106.42 $19,134.09
76 $19,134.09 $205.55 $0.00 $108.19 $19,447.83
77 $19,447.83 $205.55 $0.00 $109.96 $19,763.34
78 $19,763.34 $205.55 $0.00 $111.74 $20,080.63
79 $20,080.63 $205.55 $0.00 $113.54 $20,399.72
80 $20,399.72 $205.55 $0.00 $115.34 $20,720.61
81 $20,720.61 $205.55 $0.00 $117.16 $21,043.32
82 $21,043.32 $205.55 $0.00 $118.98 $21,367.85
83 $21,367.85 $205.55 $0.00 $120.82 $21,694.22
84 $21,694.22 $205.55 $0.00 $122.66 $22,022.43
85 $22,022.43 $205.55 $0.00 $124.52 $22,352.50
86 $22,352.50 $205.55 $0.00 $126.38 $22,684.43
87 $22,684.43 $205.55 $0.00 $128.26 $23,018.24
88 $23,018.24 $205.55 $0.00 $130.15 $23,353.94
89 $23,353.94 $205.55 $0.00 $132.05 $23,691.54
90 $23,691.54 $205.55 $0.00 $133.96 $24,031.05
91 $24,031.05 $205.55 $0.00 $135.88 $24,372.48
92 $24,372.48 $205.55 $0.00 $137.81 $24,715.84
93 $24,715.84 $205.55 $0.00 $139.75 $25,061.14
94 $25,061.14 $205.55 $0.00 $141.70 $25,408.39
95 $25,408.39 $205.55 $0.00 $143.66 $25,757.60
96 $25,757.60 $205.55 $0.00 $145.64 $26,108.79
97 $26,108.79 $205.55 $0.00 $147.62 $26,461.96
98 $26,461.96 $205.55 $0.00 $149.62 $26,817.13
99 $26,817.13 $205.55 $0.00 $151.63 $27,174.31
100 $27,174.31 $205.55 $0.00 $153.65 $27,533.51
101 $27,533.51 $205.55 $0.00 $155.68 $27,894.74
102 $27,894.74 $205.55 $0.00 $157.72 $28,258.01
103 $28,258.01 $205.55 $0.00 $159.77 $28,623.33
104 $28,623.33 $205.55 $0.00 $161.84 $28,990.72
105 $28,990.72 $205.55 $0.00 $163.92 $29,360.19
106 $29,360.19 $205.55 $0.00 $166.01 $29,731.75
107 $29,731.75 $205.55 $0.00 $168.11 $30,105.41
108 $30,105.41 $205.55 $0.00 $170.22 $30,481.18
109 $30,481.18 $205.55 $0.00 $172.35 $30,859.08
110 $30,859.08 $205.55 $0.00 $174.48 $31,239.11
111 $31,239.11 $205.55 $0.00 $176.63 $31,621.29
112 $31,621.29 $205.55 $0.00 $178.79 $32,005.63
113 $32,005.63 $205.55 $0.00 $180.96 $32,392.14
114 $32,392.14 $205.55 $0.00 $183.15 $32,780.84
115 $32,780.84 $205.55 $0.00 $185.35 $33,171.74
116 $33,171.74 $205.55 $0.00 $187.56 $33,564.85
117 $33,564.85 $205.55 $0.00 $189.78 $33,960.18
118 $33,960.18 $205.55 $0.00 $192.02 $34,357.75
119 $34,357.75 $205.55 $0.00 $194.26 $34,757.56
120 $34,757.56 $205.55 $0.00 $196.52 $35,159.63
121 $35,159.63 $205.55 $0.00 $198.80 $35,563.98
122 $35,563.98 $205.55 $0.00 $201.08 $35,970.61
123 $35,970.61 $205.55 $0.00 $203.38 $36,379.54
124 $36,379.54 $205.55 $0.00 $205.70 $36,790.79
125 $36,790.79 $205.55 $0.00 $208.02 $37,204.36
126 $37,204.36 $205.55 $0.00 $210.36 $37,620.27
127 $37,620.27 $205.55 $0.00 $212.71 $38,038.53
128 $38,038.53 $205.55 $0.00 $215.08 $38,459.16
129 $38,459.16 $205.55 $0.00 $217.45 $38,882.16
130 $38,882.16 $205.55 $0.00 $219.85 $39,307.56
131 $39,307.56 $205.55 $0.00 $222.25 $39,735.36
132 $39,735.36 $205.55 $0.00 $224.67 $40,165.58
133 $40,165.58 $205.55 $0.00 $227.10 $40,598.23
134 $40,598.23 $205.55 $0.00 $229.55 $41,033.33
135 $41,033.33 $205.55 $0.00 $232.01 $41,470.89
136 $41,470.89 $205.55 $0.00 $234.48 $41,910.92
137 $41,910.92 $205.55 $0.00 $236.97 $42,353.44
138 $42,353.44 $205.55 $0.00 $239.47 $42,798.46
139 $42,798.46 $205.55 $0.00 $241.99 $43,246.00
140 $43,246.00 $205.55 $0.00 $244.52 $43,696.07
141 $43,696.07 $205.55 $0.00 $247.06 $44,148.68
142 $44,148.68 $205.55 $0.00 $249.62 $44,603.85
143 $44,603.85 $205.55 $0.00 $252.20 $45,061.60
144 $45,061.60 $205.55 $0.00 $254.78 $45,521.93
145 $45,521.93 $205.55 $0.00 $257.39 $45,984.87
146 $45,984.87 $205.55 $0.00 $260.01 $46,450.43
147 $46,450.43 $205.55 $0.00 $262.64 $46,918.62
148 $46,918.62 $205.55 $0.00 $265.28 $47,389.45
149 $47,389.45 $205.55 $0.00 $267.95 $47,862.95
150 $47,862.95 $205.55 $0.00 $270.62 $48,339.12
151 $48,339.12 $205.55 $0.00 $273.32 $48,817.99
152 $48,817.99 $205.55 $0.00 $276.02 $49,299.56
153 $49,299.56 $205.55 $0.00 $278.75 $49,783.86
154 $49,783.86 $205.55 $0.00 $281.49 $50,270.90
155 $50,270.90 $205.55 $0.00 $284.24 $50,760.69
156 $50,760.69 $205.55 $0.00 $287.01 $51,253.25
157 $51,253.25 $205.55 $0.00 $289.79 $51,748.59
158 $51,748.59 $205.55 $0.00 $292.59 $52,246.73
159 $52,246.73 $205.55 $0.00 $295.41 $52,747.69
160 $52,747.69 $205.55 $0.00 $298.24 $53,251.48
161 $53,251.48 $205.55 $0.00 $301.09 $53,758.12
162 $53,758.12 $205.55 $0.00 $303.96 $54,267.63
163 $54,267.63 $205.55 $0.00 $306.84 $54,780.02
164 $54,780.02 $205.55 $0.00 $309.73 $55,295.30
165 $55,295.30 $205.55 $0.00 $312.65 $55,813.50
166 $55,813.50 $205.55 $0.00 $315.58 $56,334.63
167 $56,334.63 $205.55 $0.00 $318.52 $56,858.70
168 $56,858.70 $205.55 $0.00 $321.49 $57,385.74
169 $57,385.74 $205.55 $0.00 $324.47 $57,915.76
170 $57,915.76 $205.55 $0.00 $327.46 $58,448.77
171 $58,448.77 $205.55 $0.00 $330.48 $58,984.80
172 $58,984.80 $205.55 $0.00 $333.51 $59,523.86
173 $59,523.86 $205.55 $0.00 $336.56 $60,065.97
174 $60,065.97 $205.55 $0.00 $339.62 $60,611.14
175 $60,611.14 $205.55 $0.00 $342.70 $61,159.39
176 $61,159.39 $205.55 $0.00 $345.80 $61,710.74
177 $61,710.74 $205.55 $0.00 $348.92 $62,265.21
178 $62,265.21 $205.55 $0.00 $352.06 $62,822.82
179 $62,822.82 $205.55 $0.00 $355.21 $63,383.58
180 $63,383.58 $205.55 $0.00 $358.38 $63,947.51
181 $63,947.51 $205.55 $0.00 $361.57 $64,514.63
182 $64,514.63 $205.55 $0.00 $364.78 $65,084.96
183 $65,084.96 $205.55 $0.00 $368.00 $65,658.51
184 $65,658.51 $205.55 $0.00 $371.24 $66,235.30
185 $66,235.30 $205.55 $0.00 $374.50 $66,815.35
186 $66,815.35 $205.55 $0.00 $377.78 $67,398.68
187 $67,398.68 $205.55 $0.00 $381.08 $67,985.31
188 $67,985.31 $205.55 $0.00 $384.40 $68,575.26
189 $68,575.26 $205.55 $0.00 $387.73 $69,168.54
190 $69,168.54 $205.55 $0.00 $391.09 $69,765.18
191 $69,765.18 $205.55 $0.00 $394.46 $70,365.19
192 $70,365.19 $205.55 $0.00 $397.86 $70,968.60
193 $70,968.60 $205.55 $0.00 $401.27 $71,575.42
194 $71,575.42 $205.55 $0.00 $404.70 $72,185.67
195 $72,185.67 $205.55 $0.00 $408.15 $72,799.37
196 $72,799.37 $205.55 $0.00 $411.62 $73,416.54
197 $73,416.54 $205.55 $0.00 $415.11 $74,037.20
198 $74,037.20 $205.55 $0.00 $418.62 $74,661.37
199 $74,661.37 $205.55 $0.00 $422.15 $75,289.07
200 $75,289.07 $205.55 $0.00 $425.70 $75,920.32
201 $75,920.32 $205.55 $0.00 $429.26 $76,555.13
202 $76,555.13 $205.55 $0.00 $432.85 $77,193.53
203 $77,193.53 $205.55 $0.00 $436.46 $77,835.54
204 $77,835.54 $205.55 $0.00 $440.09 $78,481.18
205 $78,481.18 $205.55 $0.00 $443.74 $79,130.47
206 $79,130.47 $205.55 $0.00 $447.42 $79,783.44
207 $79,783.44 $205.55 $0.00 $451.11 $80,440.10
208 $80,440.10 $205.55 $0.00 $454.82 $81,100.47
209 $81,100.47 $205.55 $0.00 $458.55 $81,764.57
210 $81,764.57 $205.55 $0.00 $462.31 $82,432.43
211 $82,432.43 $205.55 $0.00 $466.08 $83,104.06
212 $83,104.06 $205.55 $0.00 $469.88 $83,779.49
213 $83,779.49 $205.55 $0.00 $473.70 $84,458.74
214 $84,458.74 $205.55 $0.00 $477.54 $85,141.83
215 $85,141.83 $205.55 $0.00 $481.40 $85,828.78
216 $85,828.78 $205.55 $0.00 $485.29 $86,519.62
217 $86,519.62 $205.55 $45,121.70 $489.19 $42,092.66
218 $42,092.66 $205.55 $0.00 $238.00 $42,536.21
219 $42,536.21 $205.55 $0.00 $240.51 $42,982.27
220 $42,982.27 $205.55 $0.00 $243.03 $43,430.85
221 $43,430.85 $205.55 $0.00 $245.56 $43,881.96
222 $43,881.96 $205.55 $0.00 $248.11 $44,335.62
223 $44,335.62 $205.55 $0.00 $250.68 $44,791.85
224 $44,791.85 $205.55 $0.00 $253.26 $45,250.66
225 $45,250.66 $205.55 $0.00 $255.85 $45,712.06
226 $45,712.06 $205.55 $0.00 $258.46 $46,176.07
227 $46,176.07 $205.55 $0.00 $261.09 $46,642.71
228 $46,642.71 $205.55 $0.00 $263.72 $47,111.98
229 $47,111.98 $0.00 $47,377.79 $266.38 $0.57