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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$42,865
Monthly savings required$191

How much will it cost to send your child to Lakeshore Technical College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $85,730.64 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $190.51 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$17,377.00
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 $190.51 $0.00 $0.00 $190.51
2 $190.51 $190.51 $0.00 $1.08 $382.10
3 $382.10 $190.51 $0.00 $2.16 $574.77
4 $574.77 $190.51 $0.00 $3.25 $768.53
5 $768.53 $190.51 $0.00 $4.35 $963.39
6 $963.39 $190.51 $0.00 $5.45 $1,159.35
7 $1,159.35 $190.51 $0.00 $6.56 $1,356.42
8 $1,356.42 $190.51 $0.00 $7.67 $1,554.60
9 $1,554.60 $190.51 $0.00 $8.79 $1,753.90
10 $1,753.90 $190.51 $0.00 $9.92 $1,954.33
11 $1,954.33 $190.51 $0.00 $11.05 $2,155.89
12 $2,155.89 $190.51 $0.00 $12.19 $2,358.59
13 $2,358.59 $190.51 $0.00 $13.34 $2,562.44
14 $2,562.44 $190.51 $0.00 $14.49 $2,767.44
15 $2,767.44 $190.51 $0.00 $15.65 $2,973.60
16 $2,973.60 $190.51 $0.00 $16.81 $3,180.92
17 $3,180.92 $190.51 $0.00 $17.99 $3,389.42
18 $3,389.42 $190.51 $0.00 $19.16 $3,599.09
19 $3,599.09 $190.51 $0.00 $20.35 $3,809.95
20 $3,809.95 $190.51 $0.00 $21.54 $4,022.00
21 $4,022.00 $190.51 $0.00 $22.74 $4,235.25
22 $4,235.25 $190.51 $0.00 $23.95 $4,449.71
23 $4,449.71 $190.51 $0.00 $25.16 $4,665.38
24 $4,665.38 $190.51 $0.00 $26.38 $4,882.27
25 $4,882.27 $190.51 $0.00 $27.61 $5,100.39
26 $5,100.39 $190.51 $0.00 $28.84 $5,319.74
27 $5,319.74 $190.51 $0.00 $30.08 $5,540.33
28 $5,540.33 $190.51 $0.00 $31.33 $5,762.17
29 $5,762.17 $190.51 $0.00 $32.58 $5,985.26
30 $5,985.26 $190.51 $0.00 $33.84 $6,209.61
31 $6,209.61 $190.51 $0.00 $35.11 $6,435.23
32 $6,435.23 $190.51 $0.00 $36.39 $6,662.13
33 $6,662.13 $190.51 $0.00 $37.67 $6,890.31
34 $6,890.31 $190.51 $0.00 $38.96 $7,119.78
35 $7,119.78 $190.51 $0.00 $40.26 $7,350.55
36 $7,350.55 $190.51 $0.00 $41.56 $7,582.62
37 $7,582.62 $190.51 $0.00 $42.87 $7,816.00
38 $7,816.00 $190.51 $0.00 $44.19 $8,050.70
39 $8,050.70 $190.51 $0.00 $45.52 $8,286.73
40 $8,286.73 $190.51 $0.00 $46.85 $8,524.09
41 $8,524.09 $190.51 $0.00 $48.20 $8,762.80
42 $8,762.80 $190.51 $0.00 $49.55 $9,002.86
43 $9,002.86 $190.51 $0.00 $50.90 $9,244.27
44 $9,244.27 $190.51 $0.00 $52.27 $9,487.05
45 $9,487.05 $190.51 $0.00 $53.64 $9,731.20
46 $9,731.20 $190.51 $0.00 $55.02 $9,976.73
47 $9,976.73 $190.51 $0.00 $56.41 $10,223.65
48 $10,223.65 $190.51 $0.00 $57.81 $10,471.97
49 $10,471.97 $190.51 $0.00 $59.21 $10,721.69
50 $10,721.69 $190.51 $0.00 $60.62 $10,972.82
51 $10,972.82 $190.51 $0.00 $62.04 $11,225.37
52 $11,225.37 $190.51 $0.00 $63.47 $11,479.35
53 $11,479.35 $190.51 $0.00 $64.91 $11,734.77
54 $11,734.77 $190.51 $0.00 $66.35 $11,991.63
55 $11,991.63 $190.51 $0.00 $67.80 $12,249.94
56 $12,249.94 $190.51 $0.00 $69.26 $12,509.71
57 $12,509.71 $190.51 $0.00 $70.73 $12,770.95
58 $12,770.95 $190.51 $0.00 $72.21 $13,033.67
59 $13,033.67 $190.51 $0.00 $73.69 $13,297.87
60 $13,297.87 $190.51 $0.00 $75.19 $13,563.57
61 $13,563.57 $190.51 $0.00 $76.69 $13,830.77
62 $13,830.77 $190.51 $0.00 $78.20 $14,099.48
63 $14,099.48 $190.51 $0.00 $79.72 $14,369.71
64 $14,369.71 $190.51 $0.00 $81.25 $14,641.47
65 $14,641.47 $190.51 $0.00 $82.79 $14,914.77
66 $14,914.77 $190.51 $0.00 $84.33 $15,189.61
67 $15,189.61 $190.51 $0.00 $85.88 $15,466.00
68 $15,466.00 $190.51 $0.00 $87.45 $15,743.96
69 $15,743.96 $190.51 $0.00 $89.02 $16,023.49
70 $16,023.49 $190.51 $0.00 $90.60 $16,304.60
71 $16,304.60 $190.51 $0.00 $92.19 $16,587.30
72 $16,587.30 $190.51 $0.00 $93.79 $16,871.60
73 $16,871.60 $190.51 $0.00 $95.39 $17,157.50
74 $17,157.50 $190.51 $0.00 $97.01 $17,445.02
75 $17,445.02 $190.51 $0.00 $98.64 $17,734.17
76 $17,734.17 $190.51 $0.00 $100.27 $18,024.95
77 $18,024.95 $190.51 $0.00 $101.92 $18,317.38
78 $18,317.38 $190.51 $0.00 $103.57 $18,611.46
79 $18,611.46 $190.51 $0.00 $105.23 $18,907.20
80 $18,907.20 $190.51 $0.00 $106.90 $19,204.61
81 $19,204.61 $190.51 $0.00 $108.59 $19,503.71
82 $19,503.71 $190.51 $0.00 $110.28 $19,804.50
83 $19,804.50 $190.51 $0.00 $111.98 $20,106.99
84 $20,106.99 $190.51 $0.00 $113.69 $20,411.19
85 $20,411.19 $190.51 $0.00 $115.41 $20,717.11
86 $20,717.11 $190.51 $0.00 $117.14 $21,024.76
87 $21,024.76 $190.51 $0.00 $118.88 $21,334.15
88 $21,334.15 $190.51 $0.00 $120.63 $21,645.29
89 $21,645.29 $190.51 $0.00 $122.39 $21,958.19
90 $21,958.19 $190.51 $0.00 $124.15 $22,272.85
91 $22,272.85 $190.51 $0.00 $125.93 $22,589.29
92 $22,589.29 $190.51 $0.00 $127.72 $22,907.52
93 $22,907.52 $190.51 $0.00 $129.52 $23,227.55
94 $23,227.55 $190.51 $0.00 $131.33 $23,549.39
95 $23,549.39 $190.51 $0.00 $133.15 $23,873.05
96 $23,873.05 $190.51 $0.00 $134.98 $24,198.54
97 $24,198.54 $190.51 $0.00 $136.82 $24,525.87
98 $24,525.87 $190.51 $0.00 $138.67 $24,855.05
99 $24,855.05 $190.51 $0.00 $140.53 $25,186.09
100 $25,186.09 $190.51 $0.00 $142.41 $25,519.01
101 $25,519.01 $190.51 $0.00 $144.29 $25,853.81
102 $25,853.81 $190.51 $0.00 $146.18 $26,190.50
103 $26,190.50 $190.51 $0.00 $148.08 $26,529.09
104 $26,529.09 $190.51 $0.00 $150.00 $26,869.60
105 $26,869.60 $190.51 $0.00 $151.92 $27,212.03
106 $27,212.03 $190.51 $0.00 $153.86 $27,556.40
107 $27,556.40 $190.51 $0.00 $155.81 $27,902.72
108 $27,902.72 $190.51 $0.00 $157.77 $28,251.00
109 $28,251.00 $190.51 $0.00 $159.74 $28,601.25
110 $28,601.25 $190.51 $0.00 $161.72 $28,953.48
111 $28,953.48 $190.51 $0.00 $163.71 $29,307.70
112 $29,307.70 $190.51 $0.00 $165.71 $29,663.92
113 $29,663.92 $190.51 $0.00 $167.72 $30,022.15
114 $30,022.15 $190.51 $0.00 $169.75 $30,382.41
115 $30,382.41 $190.51 $0.00 $171.79 $30,744.71
116 $30,744.71 $190.51 $0.00 $173.84 $31,109.06
117 $31,109.06 $190.51 $0.00 $175.90 $31,475.47
118 $31,475.47 $190.51 $0.00 $177.97 $31,843.95
119 $31,843.95 $190.51 $0.00 $180.05 $32,214.51
120 $32,214.51 $190.51 $0.00 $182.15 $32,587.17
121 $32,587.17 $190.51 $0.00 $184.25 $32,961.93
122 $32,961.93 $190.51 $0.00 $186.37 $33,338.81
123 $33,338.81 $190.51 $0.00 $188.50 $33,717.82
124 $33,717.82 $190.51 $0.00 $190.65 $34,098.98
125 $34,098.98 $190.51 $0.00 $192.80 $34,482.29
126 $34,482.29 $190.51 $0.00 $194.97 $34,867.77
127 $34,867.77 $190.51 $0.00 $197.15 $35,255.43
128 $35,255.43 $190.51 $0.00 $199.34 $35,645.28
129 $35,645.28 $190.51 $0.00 $201.54 $36,037.33
130 $36,037.33 $190.51 $0.00 $203.76 $36,431.60
131 $36,431.60 $190.51 $0.00 $205.99 $36,828.10
132 $36,828.10 $190.51 $0.00 $208.23 $37,226.84
133 $37,226.84 $190.51 $0.00 $210.49 $37,627.84
134 $37,627.84 $190.51 $0.00 $212.75 $38,031.10
135 $38,031.10 $190.51 $0.00 $215.03 $38,436.64
136 $38,436.64 $190.51 $0.00 $217.33 $38,844.48
137 $38,844.48 $190.51 $0.00 $219.63 $39,254.62
138 $39,254.62 $190.51 $0.00 $221.95 $39,667.08
139 $39,667.08 $190.51 $0.00 $224.28 $40,081.87
140 $40,081.87 $190.51 $0.00 $226.63 $40,499.01
141 $40,499.01 $190.51 $0.00 $228.99 $40,918.51
142 $40,918.51 $190.51 $0.00 $231.36 $41,340.38
143 $41,340.38 $190.51 $0.00 $233.74 $41,764.63
144 $41,764.63 $190.51 $0.00 $236.14 $42,191.28
145 $42,191.28 $190.51 $0.00 $238.56 $42,620.35
146 $42,620.35 $190.51 $0.00 $240.98 $43,051.84
147 $43,051.84 $190.51 $0.00 $243.42 $43,485.77
148 $43,485.77 $190.51 $0.00 $245.87 $43,922.15
149 $43,922.15 $190.51 $0.00 $248.34 $44,361.00
150 $44,361.00 $190.51 $0.00 $250.82 $44,802.33
151 $44,802.33 $190.51 $0.00 $253.32 $45,246.16
152 $45,246.16 $190.51 $0.00 $255.83 $45,692.50
153 $45,692.50 $190.51 $0.00 $258.35 $46,141.36
154 $46,141.36 $190.51 $0.00 $260.89 $46,592.76
155 $46,592.76 $190.51 $0.00 $263.44 $47,046.71
156 $47,046.71 $190.51 $0.00 $266.01 $47,503.23
157 $47,503.23 $190.51 $0.00 $268.59 $47,962.33
158 $47,962.33 $190.51 $0.00 $271.19 $48,424.03
159 $48,424.03 $190.51 $0.00 $273.80 $48,888.34
160 $48,888.34 $190.51 $0.00 $276.42 $49,355.27
161 $49,355.27 $190.51 $0.00 $279.06 $49,824.84
162 $49,824.84 $190.51 $0.00 $281.72 $50,297.07
163 $50,297.07 $190.51 $0.00 $284.39 $50,771.97
164 $50,771.97 $190.51 $0.00 $287.07 $51,249.55
165 $51,249.55 $190.51 $0.00 $289.77 $51,729.83
166 $51,729.83 $190.51 $0.00 $292.49 $52,212.83
167 $52,212.83 $190.51 $0.00 $295.22 $52,698.56
168 $52,698.56 $190.51 $0.00 $297.97 $53,187.04
169 $53,187.04 $190.51 $0.00 $300.73 $53,678.28
170 $53,678.28 $190.51 $0.00 $303.50 $54,172.29
171 $54,172.29 $190.51 $0.00 $306.30 $54,669.10
172 $54,669.10 $190.51 $0.00 $309.11 $55,168.72
173 $55,168.72 $190.51 $0.00 $311.93 $55,671.16
174 $55,671.16 $190.51 $0.00 $314.77 $56,176.44
175 $56,176.44 $190.51 $0.00 $317.63 $56,684.58
176 $56,684.58 $190.51 $0.00 $320.50 $57,195.59
177 $57,195.59 $190.51 $0.00 $323.39 $57,709.49
178 $57,709.49 $190.51 $0.00 $326.30 $58,226.30
179 $58,226.30 $190.51 $0.00 $329.22 $58,746.03
180 $58,746.03 $190.51 $0.00 $332.16 $59,268.70
181 $59,268.70 $190.51 $0.00 $335.11 $59,794.32
182 $59,794.32 $190.51 $0.00 $338.09 $60,322.92
183 $60,322.92 $190.51 $0.00 $341.07 $60,854.50
184 $60,854.50 $190.51 $0.00 $344.08 $61,389.09
185 $61,389.09 $190.51 $0.00 $347.10 $61,926.70
186 $61,926.70 $190.51 $0.00 $350.14 $62,467.35
187 $62,467.35 $190.51 $0.00 $353.20 $63,011.06
188 $63,011.06 $190.51 $0.00 $356.27 $63,557.84
189 $63,557.84 $190.51 $0.00 $359.37 $64,107.72
190 $64,107.72 $190.51 $0.00 $362.47 $64,660.70
191 $64,660.70 $190.51 $0.00 $365.60 $65,216.81
192 $65,216.81 $190.51 $0.00 $368.75 $65,776.07
193 $65,776.07 $190.51 $0.00 $371.91 $66,338.49
194 $66,338.49 $190.51 $0.00 $375.09 $66,904.09
195 $66,904.09 $190.51 $0.00 $378.29 $67,472.89
196 $67,472.89 $190.51 $0.00 $381.50 $68,044.90
197 $68,044.90 $190.51 $0.00 $384.74 $68,620.15
198 $68,620.15 $190.51 $0.00 $387.99 $69,198.65
199 $69,198.65 $190.51 $0.00 $391.26 $69,780.42
200 $69,780.42 $190.51 $0.00 $394.55 $70,365.48
201 $70,365.48 $190.51 $0.00 $397.86 $70,953.85
202 $70,953.85 $190.51 $0.00 $401.18 $71,545.54
203 $71,545.54 $190.51 $0.00 $404.53 $72,140.58
204 $72,140.58 $190.51 $0.00 $407.89 $72,738.98
205 $72,738.98 $190.51 $0.00 $411.28 $73,340.77
206 $73,340.77 $190.51 $0.00 $414.68 $73,945.96
207 $73,945.96 $190.51 $0.00 $418.10 $74,554.57
208 $74,554.57 $190.51 $0.00 $421.54 $75,166.62
209 $75,166.62 $190.51 $0.00 $425.00 $75,782.13
210 $75,782.13 $190.51 $0.00 $428.48 $76,401.12
211 $76,401.12 $190.51 $0.00 $431.98 $77,023.61
212 $77,023.61 $190.51 $0.00 $435.50 $77,649.62
213 $77,649.62 $190.51 $0.00 $439.04 $78,279.17
214 $78,279.17 $190.51 $0.00 $442.60 $78,912.28
215 $78,912.28 $190.51 $0.00 $446.18 $79,548.97
216 $79,548.97 $190.51 $0.00 $449.78 $80,189.26
217 $80,189.26 $190.51 $41,819.82 $453.40 $39,013.35
218 $39,013.35 $190.51 $0.00 $220.59 $39,424.45
219 $39,424.45 $190.51 $0.00 $222.91 $39,837.87
220 $39,837.87 $190.51 $0.00 $225.25 $40,253.63
221 $40,253.63 $190.51 $0.00 $227.60 $40,671.74
222 $40,671.74 $190.51 $0.00 $229.96 $41,092.21
223 $41,092.21 $190.51 $0.00 $232.34 $41,515.06
224 $41,515.06 $190.51 $0.00 $234.73 $41,940.30
225 $41,940.30 $190.51 $0.00 $237.14 $42,367.95
226 $42,367.95 $190.51 $0.00 $239.55 $42,798.01
227 $42,798.01 $190.51 $0.00 $241.99 $43,230.51
228 $43,230.51 $190.51 $0.00 $244.43 $43,665.45
229 $43,665.45 $0.00 $43,910.81 $246.89 $1.53