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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$45,354
Monthly savings required$202

How much will it cost to send your child to Grossmont College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $90,708.61 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $201.56 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$18,386.00
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 $201.56 $0.00 $0.00 $201.56
2 $201.56 $201.56 $0.00 $1.14 $404.26
3 $404.26 $201.56 $0.00 $2.29 $608.11
4 $608.11 $201.56 $0.00 $3.44 $813.11
5 $813.11 $201.56 $0.00 $4.60 $1,019.27
6 $1,019.27 $201.56 $0.00 $5.76 $1,226.59
7 $1,226.59 $201.56 $0.00 $6.94 $1,435.09
8 $1,435.09 $201.56 $0.00 $8.11 $1,644.76
9 $1,644.76 $201.56 $0.00 $9.30 $1,855.62
10 $1,855.62 $201.56 $0.00 $10.49 $2,067.67
11 $2,067.67 $201.56 $0.00 $11.69 $2,280.92
12 $2,280.92 $201.56 $0.00 $12.90 $2,495.38
13 $2,495.38 $201.56 $0.00 $14.11 $2,711.05
14 $2,711.05 $201.56 $0.00 $15.33 $2,927.94
15 $2,927.94 $201.56 $0.00 $16.55 $3,146.05
16 $3,146.05 $201.56 $0.00 $17.79 $3,365.40
17 $3,365.40 $201.56 $0.00 $19.03 $3,585.99
18 $3,585.99 $201.56 $0.00 $20.28 $3,807.83
19 $3,807.83 $201.56 $0.00 $21.53 $4,030.92
20 $4,030.92 $201.56 $0.00 $22.79 $4,255.27
21 $4,255.27 $201.56 $0.00 $24.06 $4,480.89
22 $4,480.89 $201.56 $0.00 $25.34 $4,707.79
23 $4,707.79 $201.56 $0.00 $26.62 $4,935.97
24 $4,935.97 $201.56 $0.00 $27.91 $5,165.44
25 $5,165.44 $201.56 $0.00 $29.21 $5,396.21
26 $5,396.21 $201.56 $0.00 $30.51 $5,628.28
27 $5,628.28 $201.56 $0.00 $31.82 $5,861.66
28 $5,861.66 $201.56 $0.00 $33.14 $6,096.36
29 $6,096.36 $201.56 $0.00 $34.47 $6,332.39
30 $6,332.39 $201.56 $0.00 $35.80 $6,569.75
31 $6,569.75 $201.56 $0.00 $37.15 $6,808.46
32 $6,808.46 $201.56 $0.00 $38.50 $7,048.52
33 $7,048.52 $201.56 $0.00 $39.85 $7,289.93
34 $7,289.93 $201.56 $0.00 $41.22 $7,532.71
35 $7,532.71 $201.56 $0.00 $42.59 $7,776.86
36 $7,776.86 $201.56 $0.00 $43.97 $8,022.39
37 $8,022.39 $201.56 $0.00 $45.36 $8,269.31
38 $8,269.31 $201.56 $0.00 $46.76 $8,517.63
39 $8,517.63 $201.56 $0.00 $48.16 $8,767.35
40 $8,767.35 $201.56 $0.00 $49.57 $9,018.48
41 $9,018.48 $201.56 $0.00 $50.99 $9,271.03
42 $9,271.03 $201.56 $0.00 $52.42 $9,525.01
43 $9,525.01 $201.56 $0.00 $53.86 $9,780.43
44 $9,780.43 $201.56 $0.00 $55.30 $10,037.29
45 $10,037.29 $201.56 $0.00 $56.75 $10,295.60
46 $10,295.60 $201.56 $0.00 $58.21 $10,555.37
47 $10,555.37 $201.56 $0.00 $59.68 $10,816.61
48 $10,816.61 $201.56 $0.00 $61.16 $11,079.33
49 $11,079.33 $201.56 $0.00 $62.64 $11,343.53
50 $11,343.53 $201.56 $0.00 $64.14 $11,609.23
51 $11,609.23 $201.56 $0.00 $65.64 $11,876.43
52 $11,876.43 $201.56 $0.00 $67.15 $12,145.14
53 $12,145.14 $201.56 $0.00 $68.67 $12,415.37
54 $12,415.37 $201.56 $0.00 $70.20 $12,687.13
55 $12,687.13 $201.56 $0.00 $71.73 $12,960.42
56 $12,960.42 $201.56 $0.00 $73.28 $13,235.26
57 $13,235.26 $201.56 $0.00 $74.83 $13,511.65
58 $13,511.65 $201.56 $0.00 $76.40 $13,789.61
59 $13,789.61 $201.56 $0.00 $77.97 $14,069.14
60 $14,069.14 $201.56 $0.00 $79.55 $14,350.25
61 $14,350.25 $201.56 $0.00 $81.14 $14,632.95
62 $14,632.95 $201.56 $0.00 $82.74 $14,917.25
63 $14,917.25 $201.56 $0.00 $84.34 $15,203.15
64 $15,203.15 $201.56 $0.00 $85.96 $15,490.67
65 $15,490.67 $201.56 $0.00 $87.59 $15,779.82
66 $15,779.82 $201.56 $0.00 $89.22 $16,070.60
67 $16,070.60 $201.56 $0.00 $90.87 $16,363.03
68 $16,363.03 $201.56 $0.00 $92.52 $16,657.11
69 $16,657.11 $201.56 $0.00 $94.18 $16,952.85
70 $16,952.85 $201.56 $0.00 $95.85 $17,250.26
71 $17,250.26 $201.56 $0.00 $97.54 $17,549.36
72 $17,549.36 $201.56 $0.00 $99.23 $17,850.15
73 $17,850.15 $201.56 $0.00 $100.93 $18,152.64
74 $18,152.64 $201.56 $0.00 $102.64 $18,456.84
75 $18,456.84 $201.56 $0.00 $104.36 $18,762.76
76 $18,762.76 $201.56 $0.00 $106.09 $19,070.41
77 $19,070.41 $201.56 $0.00 $107.83 $19,379.80
78 $19,379.80 $201.56 $0.00 $109.58 $19,690.94
79 $19,690.94 $201.56 $0.00 $111.34 $20,003.84
80 $20,003.84 $201.56 $0.00 $113.10 $20,318.50
81 $20,318.50 $201.56 $0.00 $114.88 $20,634.94
82 $20,634.94 $201.56 $0.00 $116.67 $20,953.17
83 $20,953.17 $201.56 $0.00 $118.47 $21,273.20
84 $21,273.20 $201.56 $0.00 $120.28 $21,595.04
85 $21,595.04 $201.56 $0.00 $122.10 $21,918.70
86 $21,918.70 $201.56 $0.00 $123.93 $22,244.19
87 $22,244.19 $201.56 $0.00 $125.77 $22,571.52
88 $22,571.52 $201.56 $0.00 $127.62 $22,900.70
89 $22,900.70 $201.56 $0.00 $129.48 $23,231.74
90 $23,231.74 $201.56 $0.00 $131.36 $23,564.66
91 $23,564.66 $201.56 $0.00 $133.24 $23,899.46
92 $23,899.46 $201.56 $0.00 $135.13 $24,236.15
93 $24,236.15 $201.56 $0.00 $137.03 $24,574.74
94 $24,574.74 $201.56 $0.00 $138.95 $24,915.25
95 $24,915.25 $201.56 $0.00 $140.87 $25,257.68
96 $25,257.68 $201.56 $0.00 $142.81 $25,602.05
97 $25,602.05 $201.56 $0.00 $144.76 $25,948.37
98 $25,948.37 $201.56 $0.00 $146.72 $26,296.65
99 $26,296.65 $201.56 $0.00 $148.69 $26,646.90
100 $26,646.90 $201.56 $0.00 $150.67 $26,999.13
101 $26,999.13 $201.56 $0.00 $152.66 $27,353.35
102 $27,353.35 $201.56 $0.00 $154.66 $27,709.57
103 $27,709.57 $201.56 $0.00 $156.67 $28,067.80
104 $28,067.80 $201.56 $0.00 $158.70 $28,428.06
105 $28,428.06 $201.56 $0.00 $160.74 $28,790.36
106 $28,790.36 $201.56 $0.00 $162.78 $29,154.70
107 $29,154.70 $201.56 $0.00 $164.84 $29,521.10
108 $29,521.10 $201.56 $0.00 $166.92 $29,889.58
109 $29,889.58 $201.56 $0.00 $169.00 $30,260.14
110 $30,260.14 $201.56 $0.00 $171.10 $30,632.80
111 $30,632.80 $201.56 $0.00 $173.20 $31,007.56
112 $31,007.56 $201.56 $0.00 $175.32 $31,384.44
113 $31,384.44 $201.56 $0.00 $177.45 $31,763.45
114 $31,763.45 $201.56 $0.00 $179.60 $32,144.61
115 $32,144.61 $201.56 $0.00 $181.75 $32,527.92
116 $32,527.92 $201.56 $0.00 $183.92 $32,913.40
117 $32,913.40 $201.56 $0.00 $186.10 $33,301.06
118 $33,301.06 $201.56 $0.00 $188.29 $33,690.91
119 $33,690.91 $201.56 $0.00 $190.49 $34,082.96
120 $34,082.96 $201.56 $0.00 $192.71 $34,477.23
121 $34,477.23 $201.56 $0.00 $194.94 $34,873.73
122 $34,873.73 $201.56 $0.00 $197.18 $35,272.47
123 $35,272.47 $201.56 $0.00 $199.44 $35,673.47
124 $35,673.47 $201.56 $0.00 $201.70 $36,076.73
125 $36,076.73 $201.56 $0.00 $203.98 $36,482.27
126 $36,482.27 $201.56 $0.00 $206.28 $36,890.11
127 $36,890.11 $201.56 $0.00 $208.58 $37,300.25
128 $37,300.25 $201.56 $0.00 $210.90 $37,712.71
129 $37,712.71 $201.56 $0.00 $213.23 $38,127.50
130 $38,127.50 $201.56 $0.00 $215.58 $38,544.64
131 $38,544.64 $201.56 $0.00 $217.94 $38,964.14
132 $38,964.14 $201.56 $0.00 $220.31 $39,386.01
133 $39,386.01 $201.56 $0.00 $222.69 $39,810.26
134 $39,810.26 $201.56 $0.00 $225.09 $40,236.91
135 $40,236.91 $201.56 $0.00 $227.51 $40,665.98
136 $40,665.98 $201.56 $0.00 $229.93 $41,097.47
137 $41,097.47 $201.56 $0.00 $232.37 $41,531.40
138 $41,531.40 $201.56 $0.00 $234.82 $41,967.78
139 $41,967.78 $201.56 $0.00 $237.29 $42,406.63
140 $42,406.63 $201.56 $0.00 $239.77 $42,847.96
141 $42,847.96 $201.56 $0.00 $242.27 $43,291.79
142 $43,291.79 $201.56 $0.00 $244.78 $43,738.13
143 $43,738.13 $201.56 $0.00 $247.30 $44,186.99
144 $44,186.99 $201.56 $0.00 $249.84 $44,638.39
145 $44,638.39 $201.56 $0.00 $252.39 $45,092.34
146 $45,092.34 $201.56 $0.00 $254.96 $45,548.86
147 $45,548.86 $201.56 $0.00 $257.54 $46,007.96
148 $46,007.96 $201.56 $0.00 $260.14 $46,469.66
149 $46,469.66 $201.56 $0.00 $262.75 $46,933.97
150 $46,933.97 $201.56 $0.00 $265.37 $47,400.90
151 $47,400.90 $201.56 $0.00 $268.01 $47,870.47
152 $47,870.47 $201.56 $0.00 $270.67 $48,342.70
153 $48,342.70 $201.56 $0.00 $273.34 $48,817.60
154 $48,817.60 $201.56 $0.00 $276.02 $49,295.18
155 $49,295.18 $201.56 $0.00 $278.72 $49,775.46
156 $49,775.46 $201.56 $0.00 $281.44 $50,258.46
157 $50,258.46 $201.56 $0.00 $284.17 $50,744.19
158 $50,744.19 $201.56 $0.00 $286.92 $51,232.67
159 $51,232.67 $201.56 $0.00 $289.68 $51,723.91
160 $51,723.91 $201.56 $0.00 $292.45 $52,217.92
161 $52,217.92 $201.56 $0.00 $295.25 $52,714.73
162 $52,714.73 $201.56 $0.00 $298.06 $53,214.35
163 $53,214.35 $201.56 $0.00 $300.88 $53,716.79
164 $53,716.79 $201.56 $0.00 $303.72 $54,222.07
165 $54,222.07 $201.56 $0.00 $306.58 $54,730.21
166 $54,730.21 $201.56 $0.00 $309.45 $55,241.22
167 $55,241.22 $201.56 $0.00 $312.34 $55,755.12
168 $55,755.12 $201.56 $0.00 $315.25 $56,271.93
169 $56,271.93 $201.56 $0.00 $318.17 $56,791.66
170 $56,791.66 $201.56 $0.00 $321.11 $57,314.33
171 $57,314.33 $201.56 $0.00 $324.06 $57,839.95
172 $57,839.95 $201.56 $0.00 $327.04 $58,368.55
173 $58,368.55 $201.56 $0.00 $330.02 $58,900.13
174 $58,900.13 $201.56 $0.00 $333.03 $59,434.72
175 $59,434.72 $201.56 $0.00 $336.05 $59,972.33
176 $59,972.33 $201.56 $0.00 $339.09 $60,512.98
177 $60,512.98 $201.56 $0.00 $342.15 $61,056.69
178 $61,056.69 $201.56 $0.00 $345.22 $61,603.47
179 $61,603.47 $201.56 $0.00 $348.31 $62,153.34
180 $62,153.34 $201.56 $0.00 $351.42 $62,706.32
181 $62,706.32 $201.56 $0.00 $354.55 $63,262.43
182 $63,262.43 $201.56 $0.00 $357.69 $63,821.68
183 $63,821.68 $201.56 $0.00 $360.86 $64,384.10
184 $64,384.10 $201.56 $0.00 $364.04 $64,949.70
185 $64,949.70 $201.56 $0.00 $367.24 $65,518.50
186 $65,518.50 $201.56 $0.00 $370.45 $66,090.51
187 $66,090.51 $201.56 $0.00 $373.69 $66,665.76
188 $66,665.76 $201.56 $0.00 $376.94 $67,244.26
189 $67,244.26 $201.56 $0.00 $380.21 $67,826.03
190 $67,826.03 $201.56 $0.00 $383.50 $68,411.09
191 $68,411.09 $201.56 $0.00 $386.81 $68,999.46
192 $68,999.46 $201.56 $0.00 $390.13 $69,591.15
193 $69,591.15 $201.56 $0.00 $393.48 $70,186.19
194 $70,186.19 $201.56 $0.00 $396.84 $70,784.59
195 $70,784.59 $201.56 $0.00 $400.23 $71,386.38
196 $71,386.38 $201.56 $0.00 $403.63 $71,991.57
197 $71,991.57 $201.56 $0.00 $407.05 $72,600.18
198 $72,600.18 $201.56 $0.00 $410.49 $73,212.23
199 $73,212.23 $201.56 $0.00 $413.95 $73,827.74
200 $73,827.74 $201.56 $0.00 $417.43 $74,446.73
201 $74,446.73 $201.56 $0.00 $420.93 $75,069.22
202 $75,069.22 $201.56 $0.00 $424.45 $75,695.23
203 $75,695.23 $201.56 $0.00 $427.99 $76,324.78
204 $76,324.78 $201.56 $0.00 $431.55 $76,957.89
205 $76,957.89 $201.56 $0.00 $435.13 $77,594.58
206 $77,594.58 $201.56 $0.00 $438.73 $78,234.87
207 $78,234.87 $201.56 $0.00 $442.35 $78,878.78
208 $78,878.78 $201.56 $0.00 $445.99 $79,526.33
209 $79,526.33 $201.56 $0.00 $449.65 $80,177.54
210 $80,177.54 $201.56 $0.00 $453.34 $80,832.44
211 $80,832.44 $201.56 $0.00 $457.04 $81,491.04
212 $81,491.04 $201.56 $0.00 $460.76 $82,153.36
213 $82,153.36 $201.56 $0.00 $464.51 $82,819.43
214 $82,819.43 $201.56 $0.00 $468.27 $83,489.26
215 $83,489.26 $201.56 $0.00 $472.06 $84,162.88
216 $84,162.88 $201.56 $0.00 $475.87 $84,840.31
217 $84,840.31 $201.56 $44,248.10 $479.70 $41,273.47
218 $41,273.47 $201.56 $0.00 $233.37 $41,708.40
219 $41,708.40 $201.56 $0.00 $235.83 $42,145.79
220 $42,145.79 $201.56 $0.00 $238.30 $42,585.65
221 $42,585.65 $201.56 $0.00 $240.79 $43,028.00
222 $43,028.00 $201.56 $0.00 $243.29 $43,472.85
223 $43,472.85 $201.56 $0.00 $245.80 $43,920.21
224 $43,920.21 $201.56 $0.00 $248.33 $44,370.10
225 $44,370.10 $201.56 $0.00 $250.87 $44,822.53
226 $44,822.53 $201.56 $0.00 $253.43 $45,277.52
227 $45,277.52 $201.56 $0.00 $256.01 $45,735.09
228 $45,735.09 $201.56 $0.00 $258.59 $46,195.24
229 $46,195.24 $0.00 $46,460.51 $261.19 ($4.08)