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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$35,228
Monthly savings required$157

How much will it cost to send your child to Northwest College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $70,456.31 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $156.56 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$14,281.00
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 $156.56 $0.00 $0.00 $156.56
2 $156.56 $156.56 $0.00 $0.89 $314.01
3 $314.01 $156.56 $0.00 $1.78 $472.35
4 $472.35 $156.56 $0.00 $2.67 $631.58
5 $631.58 $156.56 $0.00 $3.57 $791.71
6 $791.71 $156.56 $0.00 $4.48 $952.75
7 $952.75 $156.56 $0.00 $5.39 $1,114.70
8 $1,114.70 $156.56 $0.00 $6.30 $1,277.56
9 $1,277.56 $156.56 $0.00 $7.22 $1,441.34
10 $1,441.34 $156.56 $0.00 $8.15 $1,606.05
11 $1,606.05 $156.56 $0.00 $9.08 $1,771.69
12 $1,771.69 $156.56 $0.00 $10.02 $1,938.27
13 $1,938.27 $156.56 $0.00 $10.96 $2,105.79
14 $2,105.79 $156.56 $0.00 $11.91 $2,274.26
15 $2,274.26 $156.56 $0.00 $12.86 $2,443.68
16 $2,443.68 $156.56 $0.00 $13.82 $2,614.06
17 $2,614.06 $156.56 $0.00 $14.78 $2,785.40
18 $2,785.40 $156.56 $0.00 $15.75 $2,957.71
19 $2,957.71 $156.56 $0.00 $16.72 $3,130.99
20 $3,130.99 $156.56 $0.00 $17.70 $3,305.25
21 $3,305.25 $156.56 $0.00 $18.69 $3,480.50
22 $3,480.50 $156.56 $0.00 $19.68 $3,656.74
23 $3,656.74 $156.56 $0.00 $20.68 $3,833.98
24 $3,833.98 $156.56 $0.00 $21.68 $4,012.22
25 $4,012.22 $156.56 $0.00 $22.69 $4,191.47
26 $4,191.47 $156.56 $0.00 $23.70 $4,371.73
27 $4,371.73 $156.56 $0.00 $24.72 $4,553.01
28 $4,553.01 $156.56 $0.00 $25.74 $4,735.31
29 $4,735.31 $156.56 $0.00 $26.77 $4,918.64
30 $4,918.64 $156.56 $0.00 $27.81 $5,103.01
31 $5,103.01 $156.56 $0.00 $28.85 $5,288.42
32 $5,288.42 $156.56 $0.00 $29.90 $5,474.88
33 $5,474.88 $156.56 $0.00 $30.96 $5,662.40
34 $5,662.40 $156.56 $0.00 $32.02 $5,850.98
35 $5,850.98 $156.56 $0.00 $33.08 $6,040.62
36 $6,040.62 $156.56 $0.00 $34.15 $6,231.33
37 $6,231.33 $156.56 $0.00 $35.23 $6,423.12
38 $6,423.12 $156.56 $0.00 $36.32 $6,616.00
39 $6,616.00 $156.56 $0.00 $37.41 $6,809.97
40 $6,809.97 $156.56 $0.00 $38.50 $7,005.03
41 $7,005.03 $156.56 $0.00 $39.61 $7,201.20
42 $7,201.20 $156.56 $0.00 $40.72 $7,398.48
43 $7,398.48 $156.56 $0.00 $41.83 $7,596.87
44 $7,596.87 $156.56 $0.00 $42.95 $7,796.38
45 $7,796.38 $156.56 $0.00 $44.08 $7,997.02
46 $7,997.02 $156.56 $0.00 $45.22 $8,198.80
47 $8,198.80 $156.56 $0.00 $46.36 $8,401.72
48 $8,401.72 $156.56 $0.00 $47.50 $8,605.78
49 $8,605.78 $156.56 $0.00 $48.66 $8,811.00
50 $8,811.00 $156.56 $0.00 $49.82 $9,017.38
51 $9,017.38 $156.56 $0.00 $50.99 $9,224.93
52 $9,224.93 $156.56 $0.00 $52.16 $9,433.65
53 $9,433.65 $156.56 $0.00 $53.34 $9,643.55
54 $9,643.55 $156.56 $0.00 $54.53 $9,854.64
55 $9,854.64 $156.56 $0.00 $55.72 $10,066.92
56 $10,066.92 $156.56 $0.00 $56.92 $10,280.40
57 $10,280.40 $156.56 $0.00 $58.13 $10,495.09
58 $10,495.09 $156.56 $0.00 $59.34 $10,710.99
59 $10,710.99 $156.56 $0.00 $60.56 $10,928.11
60 $10,928.11 $156.56 $0.00 $61.79 $11,146.46
61 $11,146.46 $156.56 $0.00 $63.02 $11,366.04
62 $11,366.04 $156.56 $0.00 $64.27 $11,586.87
63 $11,586.87 $156.56 $0.00 $65.51 $11,808.94
64 $11,808.94 $156.56 $0.00 $66.77 $12,032.27
65 $12,032.27 $156.56 $0.00 $68.03 $12,256.86
66 $12,256.86 $156.56 $0.00 $69.30 $12,482.72
67 $12,482.72 $156.56 $0.00 $70.58 $12,709.86
68 $12,709.86 $156.56 $0.00 $71.86 $12,938.28
69 $12,938.28 $156.56 $0.00 $73.15 $13,167.99
70 $13,167.99 $156.56 $0.00 $74.45 $13,399.00
71 $13,399.00 $156.56 $0.00 $75.76 $13,631.32
72 $13,631.32 $156.56 $0.00 $77.07 $13,864.95
73 $13,864.95 $156.56 $0.00 $78.39 $14,099.90
74 $14,099.90 $156.56 $0.00 $79.72 $14,336.18
75 $14,336.18 $156.56 $0.00 $81.06 $14,573.80
76 $14,573.80 $156.56 $0.00 $82.40 $14,812.76
77 $14,812.76 $156.56 $0.00 $83.75 $15,053.07
78 $15,053.07 $156.56 $0.00 $85.11 $15,294.74
79 $15,294.74 $156.56 $0.00 $86.48 $15,537.78
80 $15,537.78 $156.56 $0.00 $87.85 $15,782.19
81 $15,782.19 $156.56 $0.00 $89.23 $16,027.98
82 $16,027.98 $156.56 $0.00 $90.62 $16,275.16
83 $16,275.16 $156.56 $0.00 $92.02 $16,523.74
84 $16,523.74 $156.56 $0.00 $93.43 $16,773.73
85 $16,773.73 $156.56 $0.00 $94.84 $17,025.13
86 $17,025.13 $156.56 $0.00 $96.26 $17,277.95
87 $17,277.95 $156.56 $0.00 $97.69 $17,532.20
88 $17,532.20 $156.56 $0.00 $99.13 $17,787.89
89 $17,787.89 $156.56 $0.00 $100.58 $18,045.03
90 $18,045.03 $156.56 $0.00 $102.03 $18,303.62
91 $18,303.62 $156.56 $0.00 $103.49 $18,563.67
92 $18,563.67 $156.56 $0.00 $104.96 $18,825.19
93 $18,825.19 $156.56 $0.00 $106.44 $19,088.19
94 $19,088.19 $156.56 $0.00 $107.93 $19,352.68
95 $19,352.68 $156.56 $0.00 $109.42 $19,618.66
96 $19,618.66 $156.56 $0.00 $110.93 $19,886.15
97 $19,886.15 $156.56 $0.00 $112.44 $20,155.15
98 $20,155.15 $156.56 $0.00 $113.96 $20,425.67
99 $20,425.67 $156.56 $0.00 $115.49 $20,697.72
100 $20,697.72 $156.56 $0.00 $117.03 $20,971.31
101 $20,971.31 $156.56 $0.00 $118.57 $21,246.44
102 $21,246.44 $156.56 $0.00 $120.13 $21,523.13
103 $21,523.13 $156.56 $0.00 $121.69 $21,801.38
104 $21,801.38 $156.56 $0.00 $123.27 $22,081.21
105 $22,081.21 $156.56 $0.00 $124.85 $22,362.62
106 $22,362.62 $156.56 $0.00 $126.44 $22,645.62
107 $22,645.62 $156.56 $0.00 $128.04 $22,930.22
108 $22,930.22 $156.56 $0.00 $129.65 $23,216.43
109 $23,216.43 $156.56 $0.00 $131.27 $23,504.26
110 $23,504.26 $156.56 $0.00 $132.90 $23,793.72
111 $23,793.72 $156.56 $0.00 $134.53 $24,084.81
112 $24,084.81 $156.56 $0.00 $136.18 $24,377.55
113 $24,377.55 $156.56 $0.00 $137.83 $24,671.94
114 $24,671.94 $156.56 $0.00 $139.50 $24,968.00
115 $24,968.00 $156.56 $0.00 $141.17 $25,265.73
116 $25,265.73 $156.56 $0.00 $142.86 $25,565.15
117 $25,565.15 $156.56 $0.00 $144.55 $25,866.26
118 $25,866.26 $156.56 $0.00 $146.25 $26,169.07
119 $26,169.07 $156.56 $0.00 $147.96 $26,473.59
120 $26,473.59 $156.56 $0.00 $149.69 $26,779.84
121 $26,779.84 $156.56 $0.00 $151.42 $27,087.82
122 $27,087.82 $156.56 $0.00 $153.16 $27,397.54
123 $27,397.54 $156.56 $0.00 $154.91 $27,709.01
124 $27,709.01 $156.56 $0.00 $156.67 $28,022.24
125 $28,022.24 $156.56 $0.00 $158.44 $28,337.24
126 $28,337.24 $156.56 $0.00 $160.22 $28,654.02
127 $28,654.02 $156.56 $0.00 $162.01 $28,972.59
128 $28,972.59 $156.56 $0.00 $163.82 $29,292.97
129 $29,292.97 $156.56 $0.00 $165.63 $29,615.16
130 $29,615.16 $156.56 $0.00 $167.45 $29,939.17
131 $29,939.17 $156.56 $0.00 $169.28 $30,265.01
132 $30,265.01 $156.56 $0.00 $171.12 $30,592.69
133 $30,592.69 $156.56 $0.00 $172.98 $30,922.23
134 $30,922.23 $156.56 $0.00 $174.84 $31,253.63
135 $31,253.63 $156.56 $0.00 $176.71 $31,586.90
136 $31,586.90 $156.56 $0.00 $178.60 $31,922.06
137 $31,922.06 $156.56 $0.00 $180.49 $32,259.11
138 $32,259.11 $156.56 $0.00 $182.40 $32,598.07
139 $32,598.07 $156.56 $0.00 $184.31 $32,938.94
140 $32,938.94 $156.56 $0.00 $186.24 $33,281.74
141 $33,281.74 $156.56 $0.00 $188.18 $33,626.48
142 $33,626.48 $156.56 $0.00 $190.13 $33,973.17
143 $33,973.17 $156.56 $0.00 $192.09 $34,321.82
144 $34,321.82 $156.56 $0.00 $194.06 $34,672.44
145 $34,672.44 $156.56 $0.00 $196.04 $35,025.04
146 $35,025.04 $156.56 $0.00 $198.04 $35,379.64
147 $35,379.64 $156.56 $0.00 $200.04 $35,736.24
148 $35,736.24 $156.56 $0.00 $202.06 $36,094.86
149 $36,094.86 $156.56 $0.00 $204.09 $36,455.51
150 $36,455.51 $156.56 $0.00 $206.12 $36,818.19
151 $36,818.19 $156.56 $0.00 $208.18 $37,182.93
152 $37,182.93 $156.56 $0.00 $210.24 $37,549.73
153 $37,549.73 $156.56 $0.00 $212.31 $37,918.60
154 $37,918.60 $156.56 $0.00 $214.40 $38,289.56
155 $38,289.56 $156.56 $0.00 $216.49 $38,662.61
156 $38,662.61 $156.56 $0.00 $218.60 $39,037.77
157 $39,037.77 $156.56 $0.00 $220.73 $39,415.06
158 $39,415.06 $156.56 $0.00 $222.86 $39,794.48
159 $39,794.48 $156.56 $0.00 $225.00 $40,176.04
160 $40,176.04 $156.56 $0.00 $227.16 $40,559.76
161 $40,559.76 $156.56 $0.00 $229.33 $40,945.65
162 $40,945.65 $156.56 $0.00 $231.51 $41,333.72
163 $41,333.72 $156.56 $0.00 $233.71 $41,723.99
164 $41,723.99 $156.56 $0.00 $235.91 $42,116.46
165 $42,116.46 $156.56 $0.00 $238.13 $42,511.15
166 $42,511.15 $156.56 $0.00 $240.36 $42,908.07
167 $42,908.07 $156.56 $0.00 $242.61 $43,307.24
168 $43,307.24 $156.56 $0.00 $244.87 $43,708.67
169 $43,708.67 $156.56 $0.00 $247.14 $44,112.37
170 $44,112.37 $156.56 $0.00 $249.42 $44,518.35
171 $44,518.35 $156.56 $0.00 $251.71 $44,926.62
172 $44,926.62 $156.56 $0.00 $254.02 $45,337.20
173 $45,337.20 $156.56 $0.00 $256.34 $45,750.10
174 $45,750.10 $156.56 $0.00 $258.68 $46,165.34
175 $46,165.34 $156.56 $0.00 $261.03 $46,582.93
176 $46,582.93 $156.56 $0.00 $263.39 $47,002.88
177 $47,002.88 $156.56 $0.00 $265.76 $47,425.20
178 $47,425.20 $156.56 $0.00 $268.15 $47,849.91
179 $47,849.91 $156.56 $0.00 $270.55 $48,277.02
180 $48,277.02 $156.56 $0.00 $272.97 $48,706.55
181 $48,706.55 $156.56 $0.00 $275.39 $49,138.50
182 $49,138.50 $156.56 $0.00 $277.84 $49,572.90
183 $49,572.90 $156.56 $0.00 $280.29 $50,009.75
184 $50,009.75 $156.56 $0.00 $282.76 $50,449.07
185 $50,449.07 $156.56 $0.00 $285.25 $50,890.88
186 $50,890.88 $156.56 $0.00 $287.74 $51,335.18
187 $51,335.18 $156.56 $0.00 $290.26 $51,782.00
188 $51,782.00 $156.56 $0.00 $292.78 $52,231.34
189 $52,231.34 $156.56 $0.00 $295.32 $52,683.22
190 $52,683.22 $156.56 $0.00 $297.88 $53,137.66
191 $53,137.66 $156.56 $0.00 $300.45 $53,594.67
192 $53,594.67 $156.56 $0.00 $303.03 $54,054.26
193 $54,054.26 $156.56 $0.00 $305.63 $54,516.45
194 $54,516.45 $156.56 $0.00 $308.24 $54,981.25
195 $54,981.25 $156.56 $0.00 $310.87 $55,448.68
196 $55,448.68 $156.56 $0.00 $313.51 $55,918.75
197 $55,918.75 $156.56 $0.00 $316.17 $56,391.48
198 $56,391.48 $156.56 $0.00 $318.85 $56,866.89
199 $56,866.89 $156.56 $0.00 $321.53 $57,344.98
200 $57,344.98 $156.56 $0.00 $324.24 $57,825.78
201 $57,825.78 $156.56 $0.00 $326.96 $58,309.30
202 $58,309.30 $156.56 $0.00 $329.69 $58,795.55
203 $58,795.55 $156.56 $0.00 $332.44 $59,284.55
204 $59,284.55 $156.56 $0.00 $335.20 $59,776.31
205 $59,776.31 $156.56 $0.00 $337.98 $60,270.85
206 $60,270.85 $156.56 $0.00 $340.78 $60,768.19
207 $60,768.19 $156.56 $0.00 $343.59 $61,268.34
208 $61,268.34 $156.56 $0.00 $346.42 $61,771.32
209 $61,771.32 $156.56 $0.00 $349.26 $62,277.14
210 $62,277.14 $156.56 $0.00 $352.12 $62,785.82
211 $62,785.82 $156.56 $0.00 $355.00 $63,297.38
212 $63,297.38 $156.56 $0.00 $357.89 $63,811.83
213 $63,811.83 $156.56 $0.00 $360.80 $64,329.19
214 $64,329.19 $156.56 $0.00 $363.73 $64,849.48
215 $64,849.48 $156.56 $0.00 $366.67 $65,372.71
216 $65,372.71 $156.56 $0.00 $369.63 $65,898.90
217 $65,898.90 $156.56 $34,368.93 $372.60 $32,059.13
218 $32,059.13 $156.56 $0.00 $181.27 $32,396.96
219 $32,396.96 $156.56 $0.00 $183.18 $32,736.70
220 $32,736.70 $156.56 $0.00 $185.10 $33,078.36
221 $33,078.36 $156.56 $0.00 $187.03 $33,421.95
222 $33,421.95 $156.56 $0.00 $188.97 $33,767.48
223 $33,767.48 $156.56 $0.00 $190.93 $34,114.97
224 $34,114.97 $156.56 $0.00 $192.89 $34,464.42
225 $34,464.42 $156.56 $0.00 $194.87 $34,815.85
226 $34,815.85 $156.56 $0.00 $196.85 $35,169.26
227 $35,169.26 $156.56 $0.00 $198.85 $35,524.67
228 $35,524.67 $156.56 $0.00 $200.86 $35,882.09
229 $35,882.09 $0.00 $36,087.38 $202.88 ($2.41)