Savings Plan and Future Cost Estimation for Lamar Community College

How much will it cost and what do you need to save?

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$66,092
Monthly savings required$294

How much will it cost to send your child to Lamar Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $132,184.12 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $293.64 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$18,893.00
Years until enrollment18
Annual Tuition Increase7%
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 $293.64 $0.00 $0.00 $293.64
2 $293.64 $293.64 $0.00 $1.66 $588.94
3 $588.94 $293.64 $0.00 $3.33 $885.91
4 $885.91 $293.64 $0.00 $5.01 $1,184.56
5 $1,184.56 $293.64 $0.00 $6.70 $1,484.90
6 $1,484.90 $293.64 $0.00 $8.40 $1,786.94
7 $1,786.94 $293.64 $0.00 $10.10 $2,090.68
8 $2,090.68 $293.64 $0.00 $11.82 $2,396.14
9 $2,396.14 $293.64 $0.00 $13.55 $2,703.33
10 $2,703.33 $293.64 $0.00 $15.29 $3,012.26
11 $3,012.26 $293.64 $0.00 $17.03 $3,322.93
12 $3,322.93 $293.64 $0.00 $18.79 $3,635.36
13 $3,635.36 $293.64 $0.00 $20.55 $3,949.55
14 $3,949.55 $293.64 $0.00 $22.33 $4,265.52
15 $4,265.52 $293.64 $0.00 $24.12 $4,583.28
16 $4,583.28 $293.64 $0.00 $25.91 $4,902.83
17 $4,902.83 $293.64 $0.00 $27.72 $5,224.19
18 $5,224.19 $293.64 $0.00 $29.54 $5,547.37
19 $5,547.37 $293.64 $0.00 $31.37 $5,872.38
20 $5,872.38 $293.64 $0.00 $33.20 $6,199.22
21 $6,199.22 $293.64 $0.00 $35.05 $6,527.91
22 $6,527.91 $293.64 $0.00 $36.91 $6,858.46
23 $6,858.46 $293.64 $0.00 $38.78 $7,190.88
24 $7,190.88 $293.64 $0.00 $40.66 $7,525.18
25 $7,525.18 $293.64 $0.00 $42.55 $7,861.37
26 $7,861.37 $293.64 $0.00 $44.45 $8,199.46
27 $8,199.46 $293.64 $0.00 $46.36 $8,539.46
28 $8,539.46 $293.64 $0.00 $48.28 $8,881.38
29 $8,881.38 $293.64 $0.00 $50.22 $9,225.24
30 $9,225.24 $293.64 $0.00 $52.16 $9,571.04
31 $9,571.04 $293.64 $0.00 $54.12 $9,918.80
32 $9,918.80 $293.64 $0.00 $56.08 $10,268.52
33 $10,268.52 $293.64 $0.00 $58.06 $10,620.22
34 $10,620.22 $293.64 $0.00 $60.05 $10,973.91
35 $10,973.91 $293.64 $0.00 $62.05 $11,329.60
36 $11,329.60 $293.64 $0.00 $64.06 $11,687.30
37 $11,687.30 $293.64 $0.00 $66.08 $12,047.02
38 $12,047.02 $293.64 $0.00 $68.12 $12,408.78
39 $12,408.78 $293.64 $0.00 $70.16 $12,772.58
40 $12,772.58 $293.64 $0.00 $72.22 $13,138.44
41 $13,138.44 $293.64 $0.00 $74.29 $13,506.37
42 $13,506.37 $293.64 $0.00 $76.37 $13,876.38
43 $13,876.38 $293.64 $0.00 $78.46 $14,248.48
44 $14,248.48 $293.64 $0.00 $80.56 $14,622.68
45 $14,622.68 $293.64 $0.00 $82.68 $14,999.00
46 $14,999.00 $293.64 $0.00 $84.81 $15,377.45
47 $15,377.45 $293.64 $0.00 $86.95 $15,758.04
48 $15,758.04 $293.64 $0.00 $89.10 $16,140.78
49 $16,140.78 $293.64 $0.00 $91.26 $16,525.68
50 $16,525.68 $293.64 $0.00 $93.44 $16,912.76
51 $16,912.76 $293.64 $0.00 $95.63 $17,302.03
52 $17,302.03 $293.64 $0.00 $97.83 $17,693.50
53 $17,693.50 $293.64 $0.00 $100.04 $18,087.18
54 $18,087.18 $293.64 $0.00 $102.27 $18,483.09
55 $18,483.09 $293.64 $0.00 $104.51 $18,881.24
56 $18,881.24 $293.64 $0.00 $106.76 $19,281.64
57 $19,281.64 $293.64 $0.00 $109.02 $19,684.30
58 $19,684.30 $293.64 $0.00 $111.30 $20,089.24
59 $20,089.24 $293.64 $0.00 $113.59 $20,496.47
60 $20,496.47 $293.64 $0.00 $115.89 $20,906.00
61 $20,906.00 $293.64 $0.00 $118.21 $21,317.85
62 $21,317.85 $293.64 $0.00 $120.53 $21,732.02
63 $21,732.02 $293.64 $0.00 $122.88 $22,148.54
64 $22,148.54 $293.64 $0.00 $125.23 $22,567.41
65 $22,567.41 $293.64 $0.00 $127.60 $22,988.65
66 $22,988.65 $293.64 $0.00 $129.98 $23,412.27
67 $23,412.27 $293.64 $0.00 $132.38 $23,838.29
68 $23,838.29 $293.64 $0.00 $134.79 $24,266.72
69 $24,266.72 $293.64 $0.00 $137.21 $24,697.57
70 $24,697.57 $293.64 $0.00 $139.64 $25,130.85
71 $25,130.85 $293.64 $0.00 $142.09 $25,566.58
72 $25,566.58 $293.64 $0.00 $144.56 $26,004.78
73 $26,004.78 $293.64 $0.00 $147.03 $26,445.45
74 $26,445.45 $293.64 $0.00 $149.53 $26,888.62
75 $26,888.62 $293.64 $0.00 $152.03 $27,334.29
76 $27,334.29 $293.64 $0.00 $154.55 $27,782.48
77 $27,782.48 $293.64 $0.00 $157.09 $28,233.21
78 $28,233.21 $293.64 $0.00 $159.63 $28,686.48
79 $28,686.48 $293.64 $0.00 $162.20 $29,142.32
80 $29,142.32 $293.64 $0.00 $164.77 $29,600.73
81 $29,600.73 $293.64 $0.00 $167.37 $30,061.74
82 $30,061.74 $293.64 $0.00 $169.97 $30,525.35
83 $30,525.35 $293.64 $0.00 $172.59 $30,991.58
84 $30,991.58 $293.64 $0.00 $175.23 $31,460.45
85 $31,460.45 $293.64 $0.00 $177.88 $31,931.97
86 $31,931.97 $293.64 $0.00 $180.55 $32,406.16
87 $32,406.16 $293.64 $0.00 $183.23 $32,883.03
88 $32,883.03 $293.64 $0.00 $185.93 $33,362.60
89 $33,362.60 $293.64 $0.00 $188.64 $33,844.88
90 $33,844.88 $293.64 $0.00 $191.36 $34,329.88
91 $34,329.88 $293.64 $0.00 $194.11 $34,817.63
92 $34,817.63 $293.64 $0.00 $196.86 $35,308.13
93 $35,308.13 $293.64 $0.00 $199.64 $35,801.41
94 $35,801.41 $293.64 $0.00 $202.43 $36,297.48
95 $36,297.48 $293.64 $0.00 $205.23 $36,796.35
96 $36,796.35 $293.64 $0.00 $208.05 $37,298.04
97 $37,298.04 $293.64 $0.00 $210.89 $37,802.57
98 $37,802.57 $293.64 $0.00 $213.74 $38,309.95
99 $38,309.95 $293.64 $0.00 $216.61 $38,820.20
100 $38,820.20 $293.64 $0.00 $219.50 $39,333.34
101 $39,333.34 $293.64 $0.00 $222.40 $39,849.38
102 $39,849.38 $293.64 $0.00 $225.31 $40,368.33
103 $40,368.33 $293.64 $0.00 $228.25 $40,890.22
104 $40,890.22 $293.64 $0.00 $231.20 $41,415.06
105 $41,415.06 $293.64 $0.00 $234.17 $41,942.87
106 $41,942.87 $293.64 $0.00 $237.15 $42,473.66
107 $42,473.66 $293.64 $0.00 $240.15 $43,007.45
108 $43,007.45 $293.64 $0.00 $243.17 $43,544.26
109 $43,544.26 $293.64 $0.00 $246.21 $44,084.11
110 $44,084.11 $293.64 $0.00 $249.26 $44,627.01
111 $44,627.01 $293.64 $0.00 $252.33 $45,172.98
112 $45,172.98 $293.64 $0.00 $255.41 $45,722.03
113 $45,722.03 $293.64 $0.00 $258.52 $46,274.19
114 $46,274.19 $293.64 $0.00 $261.64 $46,829.47
115 $46,829.47 $293.64 $0.00 $264.78 $47,387.89
116 $47,387.89 $293.64 $0.00 $267.94 $47,949.47
117 $47,949.47 $293.64 $0.00 $271.11 $48,514.22
118 $48,514.22 $293.64 $0.00 $274.31 $49,082.17
119 $49,082.17 $293.64 $0.00 $277.52 $49,653.33
120 $49,653.33 $293.64 $0.00 $280.75 $50,227.72
121 $50,227.72 $293.64 $0.00 $283.99 $50,805.35
122 $50,805.35 $293.64 $0.00 $287.26 $51,386.25
123 $51,386.25 $293.64 $0.00 $290.55 $51,970.44
124 $51,970.44 $293.64 $0.00 $293.85 $52,557.93
125 $52,557.93 $293.64 $0.00 $297.17 $53,148.74
126 $53,148.74 $293.64 $0.00 $300.51 $53,742.89
127 $53,742.89 $293.64 $0.00 $303.87 $54,340.40
128 $54,340.40 $293.64 $0.00 $307.25 $54,941.29
129 $54,941.29 $293.64 $0.00 $310.65 $55,545.58
130 $55,545.58 $293.64 $0.00 $314.06 $56,153.28
131 $56,153.28 $293.64 $0.00 $317.50 $56,764.42
132 $56,764.42 $293.64 $0.00 $320.95 $57,379.01
133 $57,379.01 $293.64 $0.00 $324.43 $57,997.08
134 $57,997.08 $293.64 $0.00 $327.92 $58,618.64
135 $58,618.64 $293.64 $0.00 $331.44 $59,243.72
136 $59,243.72 $293.64 $0.00 $334.97 $59,872.33
137 $59,872.33 $293.64 $0.00 $338.53 $60,504.50
138 $60,504.50 $293.64 $0.00 $342.10 $61,140.24
139 $61,140.24 $293.64 $0.00 $345.70 $61,779.58
140 $61,779.58 $293.64 $0.00 $349.31 $62,422.53
141 $62,422.53 $293.64 $0.00 $352.95 $63,069.12
142 $63,069.12 $293.64 $0.00 $356.60 $63,719.36
143 $63,719.36 $293.64 $0.00 $360.28 $64,373.28
144 $64,373.28 $293.64 $0.00 $363.98 $65,030.90
145 $65,030.90 $293.64 $0.00 $367.69 $65,692.23
146 $65,692.23 $293.64 $0.00 $371.43 $66,357.30
147 $66,357.30 $293.64 $0.00 $375.19 $67,026.13
148 $67,026.13 $293.64 $0.00 $378.98 $67,698.75
149 $67,698.75 $293.64 $0.00 $382.78 $68,375.17
150 $68,375.17 $293.64 $0.00 $386.60 $69,055.41
151 $69,055.41 $293.64 $0.00 $390.45 $69,739.50
152 $69,739.50 $293.64 $0.00 $394.32 $70,427.46
153 $70,427.46 $293.64 $0.00 $398.21 $71,119.31
154 $71,119.31 $293.64 $0.00 $402.12 $71,815.07
155 $71,815.07 $293.64 $0.00 $406.05 $72,514.76
156 $72,514.76 $293.64 $0.00 $410.01 $73,218.41
157 $73,218.41 $293.64 $0.00 $413.99 $73,926.04
158 $73,926.04 $293.64 $0.00 $417.99 $74,637.67
159 $74,637.67 $293.64 $0.00 $422.01 $75,353.32
160 $75,353.32 $293.64 $0.00 $426.06 $76,073.02
161 $76,073.02 $293.64 $0.00 $430.13 $76,796.79
162 $76,796.79 $293.64 $0.00 $434.22 $77,524.65
163 $77,524.65 $293.64 $0.00 $438.34 $78,256.63
164 $78,256.63 $293.64 $0.00 $442.47 $78,992.74
165 $78,992.74 $293.64 $0.00 $446.64 $79,733.02
166 $79,733.02 $293.64 $0.00 $450.82 $80,477.48
167 $80,477.48 $293.64 $0.00 $455.03 $81,226.15
168 $81,226.15 $293.64 $0.00 $459.26 $81,979.05
169 $81,979.05 $293.64 $0.00 $463.52 $82,736.21
170 $82,736.21 $293.64 $0.00 $467.80 $83,497.65
171 $83,497.65 $293.64 $0.00 $472.11 $84,263.40
172 $84,263.40 $293.64 $0.00 $476.44 $85,033.48
173 $85,033.48 $293.64 $0.00 $480.79 $85,807.91
174 $85,807.91 $293.64 $0.00 $485.17 $86,586.72
175 $86,586.72 $293.64 $0.00 $489.57 $87,369.93
176 $87,369.93 $293.64 $0.00 $494.00 $88,157.57
177 $88,157.57 $293.64 $0.00 $498.46 $88,949.67
178 $88,949.67 $293.64 $0.00 $502.93 $89,746.24
179 $89,746.24 $293.64 $0.00 $507.44 $90,547.32
180 $90,547.32 $293.64 $0.00 $511.97 $91,352.93
181 $91,352.93 $293.64 $0.00 $516.52 $92,163.09
182 $92,163.09 $293.64 $0.00 $521.10 $92,977.83
183 $92,977.83 $293.64 $0.00 $525.71 $93,797.18
184 $93,797.18 $293.64 $0.00 $530.34 $94,621.16
185 $94,621.16 $293.64 $0.00 $535.00 $95,449.80
186 $95,449.80 $293.64 $0.00 $539.69 $96,283.13
187 $96,283.13 $293.64 $0.00 $544.40 $97,121.17
188 $97,121.17 $293.64 $0.00 $549.14 $97,963.95
189 $97,963.95 $293.64 $0.00 $553.90 $98,811.49
190 $98,811.49 $293.64 $0.00 $558.69 $99,663.82
191 $99,663.82 $293.64 $0.00 $563.51 $100,520.97
192 $100,520.97 $293.64 $0.00 $568.36 $101,382.97
193 $101,382.97 $293.64 $0.00 $573.23 $102,249.84
194 $102,249.84 $293.64 $0.00 $578.14 $103,121.62
195 $103,121.62 $293.64 $0.00 $583.06 $103,998.32
196 $103,998.32 $293.64 $0.00 $588.02 $104,879.98
197 $104,879.98 $293.64 $0.00 $593.01 $105,766.63
198 $105,766.63 $293.64 $0.00 $598.02 $106,658.29
199 $106,658.29 $293.64 $0.00 $603.06 $107,554.99
200 $107,554.99 $293.64 $0.00 $608.13 $108,456.76
201 $108,456.76 $293.64 $0.00 $613.23 $109,363.63
202 $109,363.63 $293.64 $0.00 $618.36 $110,275.63
203 $110,275.63 $293.64 $0.00 $623.51 $111,192.78
204 $111,192.78 $293.64 $0.00 $628.70 $112,115.12
205 $112,115.12 $293.64 $0.00 $633.92 $113,042.68
206 $113,042.68 $293.64 $0.00 $639.16 $113,975.48
207 $113,975.48 $293.64 $0.00 $644.43 $114,913.55
208 $114,913.55 $293.64 $0.00 $649.74 $115,856.93
209 $115,856.93 $293.64 $0.00 $655.07 $116,805.64
210 $116,805.64 $293.64 $0.00 $660.44 $117,759.72
211 $117,759.72 $293.64 $0.00 $665.83 $118,719.19
212 $118,719.19 $293.64 $0.00 $671.26 $119,684.09
213 $119,684.09 $293.64 $0.00 $676.71 $120,654.44
214 $120,654.44 $293.64 $0.00 $682.20 $121,630.28
215 $121,630.28 $293.64 $0.00 $687.72 $122,611.64
216 $122,611.64 $293.64 $0.00 $693.26 $123,598.54
217 $123,598.54 $293.64 $63,857.06 $698.84 $60,733.96
218 $60,733.96 $293.64 $0.00 $343.40 $61,371.00
219 $61,371.00 $293.64 $0.00 $347.00 $62,011.64
220 $62,011.64 $293.64 $0.00 $350.62 $62,655.90
221 $62,655.90 $293.64 $0.00 $354.27 $63,303.81
222 $63,303.81 $293.64 $0.00 $357.93 $63,955.38
223 $63,955.38 $293.64 $0.00 $361.61 $64,610.63
224 $64,610.63 $293.64 $0.00 $365.32 $65,269.59
225 $65,269.59 $293.64 $0.00 $369.04 $65,932.27
226 $65,932.27 $293.64 $0.00 $372.79 $66,598.70
227 $66,598.70 $293.64 $0.00 $376.56 $67,268.90
228 $67,268.90 $293.64 $0.00 $380.35 $67,942.89
229 $67,942.89 $0.00 $68,327.05 $384.16 $0.00