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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$155,958
Monthly savings required$1,235

How much will it cost to send your child to Lawrence University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $623,832.35 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,234.55 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$60,141.00
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 $1,234.55 $0.00 $0.00 $1,234.55
2 $1,234.55 $1,234.55 $0.00 $6.98 $2,476.08
3 $2,476.08 $1,234.55 $0.00 $14.00 $3,724.63
4 $3,724.63 $1,234.55 $0.00 $21.06 $4,980.24
5 $4,980.24 $1,234.55 $0.00 $28.16 $6,242.95
6 $6,242.95 $1,234.55 $0.00 $35.30 $7,512.80
7 $7,512.80 $1,234.55 $0.00 $42.48 $8,789.83
8 $8,789.83 $1,234.55 $0.00 $49.70 $10,074.08
9 $10,074.08 $1,234.55 $0.00 $56.96 $11,365.59
10 $11,365.59 $1,234.55 $0.00 $64.26 $12,664.40
11 $12,664.40 $1,234.55 $0.00 $71.61 $13,970.56
12 $13,970.56 $1,234.55 $0.00 $78.99 $15,284.10
13 $15,284.10 $1,234.55 $0.00 $86.42 $16,605.07
14 $16,605.07 $1,234.55 $0.00 $93.89 $17,933.51
15 $17,933.51 $1,234.55 $0.00 $101.40 $19,269.46
16 $19,269.46 $1,234.55 $0.00 $108.95 $20,612.96
17 $20,612.96 $1,234.55 $0.00 $116.55 $21,964.06
18 $21,964.06 $1,234.55 $0.00 $124.19 $23,322.80
19 $23,322.80 $1,234.55 $0.00 $131.87 $24,689.22
20 $24,689.22 $1,234.55 $0.00 $139.60 $26,063.37
21 $26,063.37 $1,234.55 $0.00 $147.37 $27,445.29
22 $27,445.29 $1,234.55 $0.00 $155.18 $28,835.02
23 $28,835.02 $1,234.55 $0.00 $163.04 $30,232.61
24 $30,232.61 $1,234.55 $0.00 $170.94 $31,638.10
25 $31,638.10 $1,234.55 $0.00 $178.89 $33,051.54
26 $33,051.54 $1,234.55 $0.00 $186.88 $34,472.97
27 $34,472.97 $1,234.55 $0.00 $194.92 $35,902.44
28 $35,902.44 $1,234.55 $0.00 $203.00 $37,339.99
29 $37,339.99 $1,234.55 $0.00 $211.13 $38,785.67
30 $38,785.67 $1,234.55 $0.00 $219.30 $40,239.52
31 $40,239.52 $1,234.55 $0.00 $227.52 $41,701.59
32 $41,701.59 $1,234.55 $0.00 $235.79 $43,171.93
33 $43,171.93 $1,234.55 $0.00 $244.10 $44,650.58
34 $44,650.58 $1,234.55 $0.00 $252.46 $46,137.59
35 $46,137.59 $1,234.55 $0.00 $260.87 $47,633.01
36 $47,633.01 $1,234.55 $0.00 $269.32 $49,136.88
37 $49,136.88 $1,234.55 $0.00 $277.83 $50,649.26
38 $50,649.26 $1,234.55 $0.00 $286.38 $52,170.19
39 $52,170.19 $1,234.55 $0.00 $294.98 $53,699.72
40 $53,699.72 $1,234.55 $0.00 $303.63 $55,237.90
41 $55,237.90 $1,234.55 $0.00 $312.32 $56,784.77
42 $56,784.77 $1,234.55 $0.00 $321.07 $58,340.39
43 $58,340.39 $1,234.55 $0.00 $329.87 $59,904.81
44 $59,904.81 $1,234.55 $0.00 $338.71 $61,478.07
45 $61,478.07 $1,234.55 $0.00 $347.61 $63,060.23
46 $63,060.23 $1,234.55 $0.00 $356.55 $64,651.33
47 $64,651.33 $1,234.55 $0.00 $365.55 $66,251.43
48 $66,251.43 $1,234.55 $0.00 $374.60 $67,860.58
49 $67,860.58 $1,234.55 $0.00 $383.69 $69,478.82
50 $69,478.82 $1,234.55 $0.00 $392.84 $71,106.21
51 $71,106.21 $1,234.55 $0.00 $402.04 $72,742.80
52 $72,742.80 $1,234.55 $0.00 $411.30 $74,388.65
53 $74,388.65 $1,234.55 $0.00 $420.60 $76,043.80
54 $76,043.80 $1,234.55 $0.00 $429.96 $77,708.31
55 $77,708.31 $1,234.55 $0.00 $439.37 $79,382.23
56 $79,382.23 $1,234.55 $0.00 $448.84 $81,065.62
57 $81,065.62 $1,234.55 $0.00 $458.36 $82,758.53
58 $82,758.53 $1,234.55 $0.00 $467.93 $84,461.01
59 $84,461.01 $1,234.55 $0.00 $477.55 $86,173.11
60 $86,173.11 $1,234.55 $0.00 $487.24 $87,894.90
61 $87,894.90 $1,234.55 $0.00 $496.97 $89,626.42
62 $89,626.42 $1,234.55 $0.00 $506.76 $91,367.73
63 $91,367.73 $1,234.55 $0.00 $516.61 $93,118.89
64 $93,118.89 $1,234.55 $0.00 $526.51 $94,879.95
65 $94,879.95 $1,234.55 $0.00 $536.47 $96,650.97
66 $96,650.97 $1,234.55 $0.00 $546.48 $98,432.00
67 $98,432.00 $1,234.55 $0.00 $556.55 $100,223.10
68 $100,223.10 $1,234.55 $0.00 $566.68 $102,024.33
69 $102,024.33 $1,234.55 $0.00 $576.86 $103,835.74
70 $103,835.74 $1,234.55 $0.00 $587.10 $105,657.39
71 $105,657.39 $1,234.55 $0.00 $597.40 $107,489.34
72 $107,489.34 $1,234.55 $0.00 $607.76 $109,331.65
73 $109,331.65 $1,234.55 $0.00 $618.18 $111,184.38
74 $111,184.38 $1,234.55 $0.00 $628.65 $113,047.58
75 $113,047.58 $1,234.55 $0.00 $639.19 $114,921.32
76 $114,921.32 $1,234.55 $0.00 $649.78 $116,805.65
77 $116,805.65 $1,234.55 $0.00 $660.44 $118,700.64
78 $118,700.64 $1,234.55 $0.00 $671.15 $120,606.34
79 $120,606.34 $1,234.55 $0.00 $681.93 $122,522.82
80 $122,522.82 $1,234.55 $0.00 $692.76 $124,450.13
81 $124,450.13 $1,234.55 $0.00 $703.66 $126,388.34
82 $126,388.34 $1,234.55 $0.00 $714.62 $128,337.51
83 $128,337.51 $1,234.55 $0.00 $725.64 $130,297.70
84 $130,297.70 $1,234.55 $0.00 $736.72 $132,268.97
85 $132,268.97 $1,234.55 $0.00 $747.87 $134,251.39
86 $134,251.39 $1,234.55 $0.00 $759.08 $136,245.02
87 $136,245.02 $1,234.55 $0.00 $770.35 $138,249.92
88 $138,249.92 $1,234.55 $0.00 $781.69 $140,266.16
89 $140,266.16 $1,234.55 $0.00 $793.09 $142,293.80
90 $142,293.80 $1,234.55 $0.00 $804.55 $144,332.90
91 $144,332.90 $1,234.55 $0.00 $816.08 $146,383.53
92 $146,383.53 $1,234.55 $0.00 $827.67 $148,445.75
93 $148,445.75 $1,234.55 $0.00 $839.33 $150,519.63
94 $150,519.63 $1,234.55 $0.00 $851.06 $152,605.24
95 $152,605.24 $1,234.55 $0.00 $862.85 $154,702.64
96 $154,702.64 $1,234.55 $0.00 $874.71 $156,811.90
97 $156,811.90 $1,234.55 $0.00 $886.64 $158,933.09
98 $158,933.09 $1,234.55 $0.00 $898.63 $161,066.27
99 $161,066.27 $1,234.55 $0.00 $910.69 $163,211.51
100 $163,211.51 $1,234.55 $0.00 $922.82 $165,368.88
101 $165,368.88 $1,234.55 $0.00 $935.02 $167,538.45
102 $167,538.45 $1,234.55 $0.00 $947.29 $169,720.29
103 $169,720.29 $1,234.55 $0.00 $959.62 $171,914.46
104 $171,914.46 $1,234.55 $0.00 $972.03 $174,121.04
105 $174,121.04 $1,234.55 $0.00 $984.51 $176,340.10
106 $176,340.10 $1,234.55 $0.00 $997.05 $178,571.70
107 $178,571.70 $1,234.55 $0.00 $1,009.67 $180,815.92
108 $180,815.92 $1,234.55 $0.00 $1,022.36 $183,072.83
109 $183,072.83 $1,234.55 $0.00 $1,035.12 $185,342.50
110 $185,342.50 $1,234.55 $0.00 $1,047.95 $187,625.00
111 $187,625.00 $1,234.55 $0.00 $1,060.86 $189,920.41
112 $189,920.41 $1,234.55 $0.00 $1,073.84 $192,228.80
113 $192,228.80 $1,234.55 $0.00 $1,086.89 $194,550.24
114 $194,550.24 $1,234.55 $0.00 $1,100.02 $196,884.81
115 $196,884.81 $1,234.55 $0.00 $1,113.22 $199,232.58
116 $199,232.58 $1,234.55 $0.00 $1,126.49 $201,593.62
117 $201,593.62 $1,234.55 $0.00 $1,139.84 $203,968.01
118 $203,968.01 $1,234.55 $0.00 $1,153.26 $206,355.82
119 $206,355.82 $1,234.55 $0.00 $1,166.77 $208,757.14
120 $208,757.14 $1,234.55 $0.00 $1,180.34 $211,172.03
121 $211,172.03 $1,234.55 $0.00 $1,194.00 $213,600.58
122 $213,600.58 $1,234.55 $0.00 $1,207.73 $216,042.86
123 $216,042.86 $1,234.55 $0.00 $1,221.54 $218,498.95
124 $218,498.95 $1,234.55 $0.00 $1,235.42 $220,968.92
125 $220,968.92 $1,234.55 $0.00 $1,249.39 $223,452.86
126 $223,452.86 $1,234.55 $0.00 $1,263.43 $225,950.84
127 $225,950.84 $1,234.55 $0.00 $1,277.56 $228,462.95
128 $228,462.95 $1,234.55 $0.00 $1,291.76 $230,989.26
129 $230,989.26 $1,234.55 $0.00 $1,306.05 $233,529.86
130 $233,529.86 $1,234.55 $0.00 $1,320.41 $236,084.82
131 $236,084.82 $1,234.55 $0.00 $1,334.86 $238,654.23
132 $238,654.23 $1,234.55 $0.00 $1,349.39 $241,238.17
133 $241,238.17 $1,234.55 $0.00 $1,364.00 $243,836.72
134 $243,836.72 $1,234.55 $0.00 $1,378.69 $246,449.96
135 $246,449.96 $1,234.55 $0.00 $1,393.46 $249,077.97
136 $249,077.97 $1,234.55 $0.00 $1,408.32 $251,720.84
137 $251,720.84 $1,234.55 $0.00 $1,423.27 $254,378.66
138 $254,378.66 $1,234.55 $0.00 $1,438.29 $257,051.50
139 $257,051.50 $1,234.55 $0.00 $1,453.41 $259,739.46
140 $259,739.46 $1,234.55 $0.00 $1,468.60 $262,442.61
141 $262,442.61 $1,234.55 $0.00 $1,483.89 $265,161.05
142 $265,161.05 $1,234.55 $0.00 $1,499.26 $267,894.86
143 $267,894.86 $1,234.55 $0.00 $1,514.72 $270,644.13
144 $270,644.13 $1,234.55 $0.00 $1,530.26 $273,408.94
145 $273,408.94 $1,234.55 $0.00 $1,545.89 $276,189.38
146 $276,189.38 $1,234.55 $0.00 $1,561.61 $278,985.54
147 $278,985.54 $1,234.55 $0.00 $1,577.42 $281,797.51
148 $281,797.51 $1,234.55 $0.00 $1,593.32 $284,625.38
149 $284,625.38 $1,234.55 $0.00 $1,609.31 $287,469.24
150 $287,469.24 $1,234.55 $0.00 $1,625.39 $290,329.18
151 $290,329.18 $1,234.55 $0.00 $1,641.56 $293,205.29
152 $293,205.29 $1,234.55 $0.00 $1,657.83 $296,097.67
153 $296,097.67 $1,234.55 $0.00 $1,674.18 $299,006.40
154 $299,006.40 $1,234.55 $0.00 $1,690.63 $301,931.58
155 $301,931.58 $1,234.55 $0.00 $1,707.17 $304,873.30
156 $304,873.30 $1,234.55 $0.00 $1,723.80 $307,831.65
157 $307,831.65 $1,234.55 $0.00 $1,740.52 $310,806.72
158 $310,806.72 $1,234.55 $0.00 $1,757.35 $313,798.62
159 $313,798.62 $1,234.55 $0.00 $1,774.26 $316,807.43
160 $316,807.43 $1,234.55 $0.00 $1,791.28 $319,833.26
161 $319,833.26 $1,234.55 $0.00 $1,808.38 $322,876.19
162 $322,876.19 $1,234.55 $0.00 $1,825.59 $325,936.33
163 $325,936.33 $1,234.55 $0.00 $1,842.89 $329,013.77
164 $329,013.77 $1,234.55 $0.00 $1,860.29 $332,108.61
165 $332,108.61 $1,234.55 $0.00 $1,877.79 $335,220.95
166 $335,220.95 $1,234.55 $0.00 $1,895.39 $338,350.89
167 $338,350.89 $1,234.55 $0.00 $1,913.09 $341,498.53
168 $341,498.53 $1,234.55 $0.00 $1,930.88 $344,663.96
169 $344,663.96 $1,234.55 $0.00 $1,948.78 $347,847.29
170 $347,847.29 $1,234.55 $0.00 $1,966.78 $351,048.62
171 $351,048.62 $1,234.55 $0.00 $1,984.88 $354,268.05
172 $354,268.05 $1,234.55 $0.00 $2,003.08 $357,505.68
173 $357,505.68 $1,234.55 $0.00 $2,021.39 $360,761.62
174 $360,761.62 $1,234.55 $0.00 $2,039.80 $364,035.97
175 $364,035.97 $1,234.55 $0.00 $2,058.31 $367,328.83
176 $367,328.83 $1,234.55 $0.00 $2,076.93 $370,640.31
177 $370,640.31 $1,234.55 $0.00 $2,095.65 $373,970.51
178 $373,970.51 $1,234.55 $0.00 $2,114.48 $377,319.54
179 $377,319.54 $1,234.55 $0.00 $2,133.42 $380,687.51
180 $380,687.51 $1,234.55 $0.00 $2,152.46 $384,074.52
181 $384,074.52 $1,234.55 $0.00 $2,171.61 $387,480.68
182 $387,480.68 $1,234.55 $0.00 $2,190.87 $390,906.10
183 $390,906.10 $1,234.55 $0.00 $2,210.24 $394,350.89
184 $394,350.89 $1,234.55 $0.00 $2,229.72 $397,815.16
185 $397,815.16 $1,234.55 $0.00 $2,249.30 $401,299.01
186 $401,299.01 $1,234.55 $0.00 $2,269.00 $404,802.56
187 $404,802.56 $1,234.55 $0.00 $2,288.81 $408,325.92
188 $408,325.92 $1,234.55 $0.00 $2,308.73 $411,869.20
189 $411,869.20 $1,234.55 $0.00 $2,328.77 $415,432.52
190 $415,432.52 $1,234.55 $0.00 $2,348.92 $419,015.99
191 $419,015.99 $1,234.55 $0.00 $2,369.18 $422,619.72
192 $422,619.72 $1,234.55 $0.00 $2,389.55 $426,243.82
193 $426,243.82 $1,234.55 $0.00 $2,410.04 $429,888.41
194 $429,888.41 $1,234.55 $0.00 $2,430.65 $433,553.61
195 $433,553.61 $1,234.55 $0.00 $2,451.38 $437,239.54
196 $437,239.54 $1,234.55 $0.00 $2,472.22 $440,946.31
197 $440,946.31 $1,234.55 $0.00 $2,493.17 $444,674.03
198 $444,674.03 $1,234.55 $0.00 $2,514.25 $448,422.83
199 $448,422.83 $1,234.55 $0.00 $2,535.45 $452,192.83
200 $452,192.83 $1,234.55 $0.00 $2,556.76 $455,984.14
201 $455,984.14 $1,234.55 $0.00 $2,578.20 $459,796.89
202 $459,796.89 $1,234.55 $0.00 $2,599.76 $463,631.20
203 $463,631.20 $1,234.55 $0.00 $2,621.44 $467,487.19
204 $467,487.19 $1,234.55 $0.00 $2,643.24 $471,364.98
205 $471,364.98 $1,234.55 $0.00 $2,665.17 $475,264.70
206 $475,264.70 $1,234.55 $0.00 $2,687.22 $479,186.47
207 $479,186.47 $1,234.55 $0.00 $2,709.39 $483,130.41
208 $483,130.41 $1,234.55 $0.00 $2,731.69 $487,096.65
209 $487,096.65 $1,234.55 $0.00 $2,754.12 $491,085.32
210 $491,085.32 $1,234.55 $0.00 $2,776.67 $495,096.54
211 $495,096.54 $1,234.55 $0.00 $2,799.35 $499,130.44
212 $499,130.44 $1,234.55 $0.00 $2,822.16 $503,187.15
213 $503,187.15 $1,234.55 $0.00 $2,845.09 $507,266.79
214 $507,266.79 $1,234.55 $0.00 $2,868.16 $511,369.50
215 $511,369.50 $1,234.55 $0.00 $2,891.36 $515,495.41
216 $515,495.41 $1,234.55 $0.00 $2,914.69 $519,644.65
217 $519,644.65 $1,234.55 $144,736.49 $2,938.15 $379,080.86
218 $379,080.86 $1,234.55 $0.00 $2,143.38 $382,458.79
219 $382,458.79 $1,234.55 $0.00 $2,162.48 $385,855.82
220 $385,855.82 $1,234.55 $0.00 $2,181.68 $389,272.05
221 $389,272.05 $1,234.55 $0.00 $2,201.00 $392,707.60
222 $392,707.60 $1,234.55 $0.00 $2,220.43 $396,162.58
223 $396,162.58 $1,234.55 $0.00 $2,239.96 $399,637.09
224 $399,637.09 $1,234.55 $0.00 $2,259.61 $403,131.25
225 $403,131.25 $1,234.55 $0.00 $2,279.36 $406,645.16
226 $406,645.16 $1,234.55 $0.00 $2,299.23 $410,178.94
227 $410,178.94 $1,234.55 $0.00 $2,319.21 $413,732.70
228 $413,732.70 $1,234.55 $0.00 $2,339.30 $417,306.55
229 $417,306.55 $1,234.55 $151,973.31 $2,359.51 $268,927.30
230 $268,927.30 $1,234.55 $0.00 $1,520.55 $271,682.40
231 $271,682.40 $1,234.55 $0.00 $1,536.13 $274,453.08
232 $274,453.08 $1,234.55 $0.00 $1,551.80 $277,239.43
233 $277,239.43 $1,234.55 $0.00 $1,567.55 $280,041.53
234 $280,041.53 $1,234.55 $0.00 $1,583.40 $282,859.48
235 $282,859.48 $1,234.55 $0.00 $1,599.33 $285,693.36
236 $285,693.36 $1,234.55 $0.00 $1,615.35 $288,543.26
237 $288,543.26 $1,234.55 $0.00 $1,631.47 $291,409.28
238 $291,409.28 $1,234.55 $0.00 $1,647.67 $294,291.50
239 $294,291.50 $1,234.55 $0.00 $1,663.97 $297,190.02
240 $297,190.02 $1,234.55 $0.00 $1,680.36 $300,104.93
241 $300,104.93 $1,234.55 $159,571.98 $1,696.84 $143,464.34
242 $143,464.34 $1,234.55 $0.00 $811.17 $145,510.06
243 $145,510.06 $1,234.55 $0.00 $822.74 $147,567.35
244 $147,567.35 $1,234.55 $0.00 $834.37 $149,636.27
245 $149,636.27 $1,234.55 $0.00 $846.07 $151,716.89
246 $151,716.89 $1,234.55 $0.00 $857.83 $153,809.27
247 $153,809.27 $1,234.55 $0.00 $869.66 $155,913.48
248 $155,913.48 $1,234.55 $0.00 $881.56 $158,029.59
249 $158,029.59 $1,234.55 $0.00 $893.52 $160,157.66
250 $160,157.66 $1,234.55 $0.00 $905.55 $162,297.76
251 $162,297.76 $1,234.55 $0.00 $917.66 $164,449.97
252 $164,449.97 $1,234.55 $0.00 $929.82 $166,614.34
253 $166,614.34 $0.00 $167,550.58 $942.06 $5.82