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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$10,913
Monthly savings required$48

How much will it cost to send your child to Ivy Tech Community College Northcentral in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $21,826.11 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $48.50 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$4,424.00
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 $48.50 $0.00 $0.00 $48.50
2 $48.50 $48.50 $0.00 $0.27 $97.27
3 $97.27 $48.50 $0.00 $0.55 $146.32
4 $146.32 $48.50 $0.00 $0.83 $195.65
5 $195.65 $48.50 $0.00 $1.11 $245.26
6 $245.26 $48.50 $0.00 $1.39 $295.15
7 $295.15 $48.50 $0.00 $1.67 $345.32
8 $345.32 $48.50 $0.00 $1.95 $395.77
9 $395.77 $48.50 $0.00 $2.24 $446.51
10 $446.51 $48.50 $0.00 $2.52 $497.53
11 $497.53 $48.50 $0.00 $2.81 $548.84
12 $548.84 $48.50 $0.00 $3.10 $600.44
13 $600.44 $48.50 $0.00 $3.39 $652.33
14 $652.33 $48.50 $0.00 $3.69 $704.52
15 $704.52 $48.50 $0.00 $3.98 $757.00
16 $757.00 $48.50 $0.00 $4.28 $809.78
17 $809.78 $48.50 $0.00 $4.58 $862.86
18 $862.86 $48.50 $0.00 $4.88 $916.24
19 $916.24 $48.50 $0.00 $5.18 $969.92
20 $969.92 $48.50 $0.00 $5.48 $1,023.90
21 $1,023.90 $48.50 $0.00 $5.79 $1,078.19
22 $1,078.19 $48.50 $0.00 $6.10 $1,132.79
23 $1,132.79 $48.50 $0.00 $6.40 $1,187.69
24 $1,187.69 $48.50 $0.00 $6.72 $1,242.91
25 $1,242.91 $48.50 $0.00 $7.03 $1,298.44
26 $1,298.44 $48.50 $0.00 $7.34 $1,354.28
27 $1,354.28 $48.50 $0.00 $7.66 $1,410.44
28 $1,410.44 $48.50 $0.00 $7.97 $1,466.91
29 $1,466.91 $48.50 $0.00 $8.29 $1,523.70
30 $1,523.70 $48.50 $0.00 $8.62 $1,580.82
31 $1,580.82 $48.50 $0.00 $8.94 $1,638.26
32 $1,638.26 $48.50 $0.00 $9.26 $1,696.02
33 $1,696.02 $48.50 $0.00 $9.59 $1,754.11
34 $1,754.11 $48.50 $0.00 $9.92 $1,812.53
35 $1,812.53 $48.50 $0.00 $10.25 $1,871.28
36 $1,871.28 $48.50 $0.00 $10.58 $1,930.36
37 $1,930.36 $48.50 $0.00 $10.91 $1,989.77
38 $1,989.77 $48.50 $0.00 $11.25 $2,049.52
39 $2,049.52 $48.50 $0.00 $11.59 $2,109.61
40 $2,109.61 $48.50 $0.00 $11.93 $2,170.04
41 $2,170.04 $48.50 $0.00 $12.27 $2,230.81
42 $2,230.81 $48.50 $0.00 $12.61 $2,291.92
43 $2,291.92 $48.50 $0.00 $12.96 $2,353.38
44 $2,353.38 $48.50 $0.00 $13.31 $2,415.19
45 $2,415.19 $48.50 $0.00 $13.66 $2,477.35
46 $2,477.35 $48.50 $0.00 $14.01 $2,539.86
47 $2,539.86 $48.50 $0.00 $14.36 $2,602.72
48 $2,602.72 $48.50 $0.00 $14.72 $2,665.94
49 $2,665.94 $48.50 $0.00 $15.07 $2,729.51
50 $2,729.51 $48.50 $0.00 $15.43 $2,793.44
51 $2,793.44 $48.50 $0.00 $15.79 $2,857.73
52 $2,857.73 $48.50 $0.00 $16.16 $2,922.39
53 $2,922.39 $48.50 $0.00 $16.52 $2,987.41
54 $2,987.41 $48.50 $0.00 $16.89 $3,052.80
55 $3,052.80 $48.50 $0.00 $17.26 $3,118.56
56 $3,118.56 $48.50 $0.00 $17.63 $3,184.69
57 $3,184.69 $48.50 $0.00 $18.01 $3,251.20
58 $3,251.20 $48.50 $0.00 $18.38 $3,318.08
59 $3,318.08 $48.50 $0.00 $18.76 $3,385.34
60 $3,385.34 $48.50 $0.00 $19.14 $3,452.98
61 $3,452.98 $48.50 $0.00 $19.52 $3,521.00
62 $3,521.00 $48.50 $0.00 $19.91 $3,589.41
63 $3,589.41 $48.50 $0.00 $20.30 $3,658.21
64 $3,658.21 $48.50 $0.00 $20.68 $3,727.39
65 $3,727.39 $48.50 $0.00 $21.08 $3,796.97
66 $3,796.97 $48.50 $0.00 $21.47 $3,866.94
67 $3,866.94 $48.50 $0.00 $21.86 $3,937.30
68 $3,937.30 $48.50 $0.00 $22.26 $4,008.06
69 $4,008.06 $48.50 $0.00 $22.66 $4,079.22
70 $4,079.22 $48.50 $0.00 $23.06 $4,150.78
71 $4,150.78 $48.50 $0.00 $23.47 $4,222.75
72 $4,222.75 $48.50 $0.00 $23.88 $4,295.13
73 $4,295.13 $48.50 $0.00 $24.29 $4,367.92
74 $4,367.92 $48.50 $0.00 $24.70 $4,441.12
75 $4,441.12 $48.50 $0.00 $25.11 $4,514.73
76 $4,514.73 $48.50 $0.00 $25.53 $4,588.76
77 $4,588.76 $48.50 $0.00 $25.95 $4,663.21
78 $4,663.21 $48.50 $0.00 $26.37 $4,738.08
79 $4,738.08 $48.50 $0.00 $26.79 $4,813.37
80 $4,813.37 $48.50 $0.00 $27.22 $4,889.09
81 $4,889.09 $48.50 $0.00 $27.64 $4,965.23
82 $4,965.23 $48.50 $0.00 $28.07 $5,041.80
83 $5,041.80 $48.50 $0.00 $28.51 $5,118.81
84 $5,118.81 $48.50 $0.00 $28.94 $5,196.25
85 $5,196.25 $48.50 $0.00 $29.38 $5,274.13
86 $5,274.13 $48.50 $0.00 $29.82 $5,352.45
87 $5,352.45 $48.50 $0.00 $30.26 $5,431.21
88 $5,431.21 $48.50 $0.00 $30.71 $5,510.42
89 $5,510.42 $48.50 $0.00 $31.16 $5,590.08
90 $5,590.08 $48.50 $0.00 $31.61 $5,670.19
91 $5,670.19 $48.50 $0.00 $32.06 $5,750.75
92 $5,750.75 $48.50 $0.00 $32.52 $5,831.77
93 $5,831.77 $48.50 $0.00 $32.97 $5,913.24
94 $5,913.24 $48.50 $0.00 $33.43 $5,995.17
95 $5,995.17 $48.50 $0.00 $33.90 $6,077.57
96 $6,077.57 $48.50 $0.00 $34.36 $6,160.43
97 $6,160.43 $48.50 $0.00 $34.83 $6,243.76
98 $6,243.76 $48.50 $0.00 $35.30 $6,327.56
99 $6,327.56 $48.50 $0.00 $35.78 $6,411.84
100 $6,411.84 $48.50 $0.00 $36.25 $6,496.59
101 $6,496.59 $48.50 $0.00 $36.73 $6,581.82
102 $6,581.82 $48.50 $0.00 $37.21 $6,667.53
103 $6,667.53 $48.50 $0.00 $37.70 $6,753.73
104 $6,753.73 $48.50 $0.00 $38.19 $6,840.42
105 $6,840.42 $48.50 $0.00 $38.68 $6,927.60
106 $6,927.60 $48.50 $0.00 $39.17 $7,015.27
107 $7,015.27 $48.50 $0.00 $39.67 $7,103.44
108 $7,103.44 $48.50 $0.00 $40.16 $7,192.10
109 $7,192.10 $48.50 $0.00 $40.67 $7,281.27
110 $7,281.27 $48.50 $0.00 $41.17 $7,370.94
111 $7,370.94 $48.50 $0.00 $41.68 $7,461.12
112 $7,461.12 $48.50 $0.00 $42.19 $7,551.81
113 $7,551.81 $48.50 $0.00 $42.70 $7,643.01
114 $7,643.01 $48.50 $0.00 $43.21 $7,734.72
115 $7,734.72 $48.50 $0.00 $43.73 $7,826.95
116 $7,826.95 $48.50 $0.00 $44.25 $7,919.70
117 $7,919.70 $48.50 $0.00 $44.78 $8,012.98
118 $8,012.98 $48.50 $0.00 $45.31 $8,106.79
119 $8,106.79 $48.50 $0.00 $45.84 $8,201.13
120 $8,201.13 $48.50 $0.00 $46.37 $8,296.00
121 $8,296.00 $48.50 $0.00 $46.91 $8,391.41
122 $8,391.41 $48.50 $0.00 $47.45 $8,487.36
123 $8,487.36 $48.50 $0.00 $47.99 $8,583.85
124 $8,583.85 $48.50 $0.00 $48.53 $8,680.88
125 $8,680.88 $48.50 $0.00 $49.08 $8,778.46
126 $8,778.46 $48.50 $0.00 $49.63 $8,876.59
127 $8,876.59 $48.50 $0.00 $50.19 $8,975.28
128 $8,975.28 $48.50 $0.00 $50.75 $9,074.53
129 $9,074.53 $48.50 $0.00 $51.31 $9,174.34
130 $9,174.34 $48.50 $0.00 $51.87 $9,274.71
131 $9,274.71 $48.50 $0.00 $52.44 $9,375.65
132 $9,375.65 $48.50 $0.00 $53.01 $9,477.16
133 $9,477.16 $48.50 $0.00 $53.59 $9,579.25
134 $9,579.25 $48.50 $0.00 $54.16 $9,681.91
135 $9,681.91 $48.50 $0.00 $54.74 $9,785.15
136 $9,785.15 $48.50 $0.00 $55.33 $9,888.98
137 $9,888.98 $48.50 $0.00 $55.91 $9,993.39
138 $9,993.39 $48.50 $0.00 $56.50 $10,098.39
139 $10,098.39 $48.50 $0.00 $57.10 $10,203.99
140 $10,203.99 $48.50 $0.00 $57.69 $10,310.18
141 $10,310.18 $48.50 $0.00 $58.30 $10,416.98
142 $10,416.98 $48.50 $0.00 $58.90 $10,524.38
143 $10,524.38 $48.50 $0.00 $59.51 $10,632.39
144 $10,632.39 $48.50 $0.00 $60.12 $10,741.01
145 $10,741.01 $48.50 $0.00 $60.73 $10,850.24
146 $10,850.24 $48.50 $0.00 $61.35 $10,960.09
147 $10,960.09 $48.50 $0.00 $61.97 $11,070.56
148 $11,070.56 $48.50 $0.00 $62.59 $11,181.65
149 $11,181.65 $48.50 $0.00 $63.22 $11,293.37
150 $11,293.37 $48.50 $0.00 $63.85 $11,405.72
151 $11,405.72 $48.50 $0.00 $64.49 $11,518.71
152 $11,518.71 $48.50 $0.00 $65.13 $11,632.34
153 $11,632.34 $48.50 $0.00 $65.77 $11,746.61
154 $11,746.61 $48.50 $0.00 $66.42 $11,861.53
155 $11,861.53 $48.50 $0.00 $67.07 $11,977.10
156 $11,977.10 $48.50 $0.00 $67.72 $12,093.32
157 $12,093.32 $48.50 $0.00 $68.38 $12,210.20
158 $12,210.20 $48.50 $0.00 $69.04 $12,327.74
159 $12,327.74 $48.50 $0.00 $69.70 $12,445.94
160 $12,445.94 $48.50 $0.00 $70.37 $12,564.81
161 $12,564.81 $48.50 $0.00 $71.04 $12,684.35
162 $12,684.35 $48.50 $0.00 $71.72 $12,804.57
163 $12,804.57 $48.50 $0.00 $72.40 $12,925.47
164 $12,925.47 $48.50 $0.00 $73.08 $13,047.05
165 $13,047.05 $48.50 $0.00 $73.77 $13,169.32
166 $13,169.32 $48.50 $0.00 $74.46 $13,292.28
167 $13,292.28 $48.50 $0.00 $75.16 $13,415.94
168 $13,415.94 $48.50 $0.00 $75.86 $13,540.30
169 $13,540.30 $48.50 $0.00 $76.56 $13,665.36
170 $13,665.36 $48.50 $0.00 $77.27 $13,791.13
171 $13,791.13 $48.50 $0.00 $77.98 $13,917.61
172 $13,917.61 $48.50 $0.00 $78.69 $14,044.80
173 $14,044.80 $48.50 $0.00 $79.41 $14,172.71
174 $14,172.71 $48.50 $0.00 $80.13 $14,301.34
175 $14,301.34 $48.50 $0.00 $80.86 $14,430.70
176 $14,430.70 $48.50 $0.00 $81.59 $14,560.79
177 $14,560.79 $48.50 $0.00 $82.33 $14,691.62
178 $14,691.62 $48.50 $0.00 $83.07 $14,823.19
179 $14,823.19 $48.50 $0.00 $83.81 $14,955.50
180 $14,955.50 $48.50 $0.00 $84.56 $15,088.56
181 $15,088.56 $48.50 $0.00 $85.31 $15,222.37
182 $15,222.37 $48.50 $0.00 $86.07 $15,356.94
183 $15,356.94 $48.50 $0.00 $86.83 $15,492.27
184 $15,492.27 $48.50 $0.00 $87.60 $15,628.37
185 $15,628.37 $48.50 $0.00 $88.37 $15,765.24
186 $15,765.24 $48.50 $0.00 $89.14 $15,902.88
187 $15,902.88 $48.50 $0.00 $89.92 $16,041.30
188 $16,041.30 $48.50 $0.00 $90.70 $16,180.50
189 $16,180.50 $48.50 $0.00 $91.49 $16,320.49
190 $16,320.49 $48.50 $0.00 $92.28 $16,461.27
191 $16,461.27 $48.50 $0.00 $93.07 $16,602.84
192 $16,602.84 $48.50 $0.00 $93.87 $16,745.21
193 $16,745.21 $48.50 $0.00 $94.68 $16,888.39
194 $16,888.39 $48.50 $0.00 $95.49 $17,032.38
195 $17,032.38 $48.50 $0.00 $96.30 $17,177.18
196 $17,177.18 $48.50 $0.00 $97.12 $17,322.80
197 $17,322.80 $48.50 $0.00 $97.95 $17,469.25
198 $17,469.25 $48.50 $0.00 $98.77 $17,616.52
199 $17,616.52 $48.50 $0.00 $99.61 $17,764.63
200 $17,764.63 $48.50 $0.00 $100.44 $17,913.57
201 $17,913.57 $48.50 $0.00 $101.29 $18,063.36
202 $18,063.36 $48.50 $0.00 $102.13 $18,213.99
203 $18,213.99 $48.50 $0.00 $102.98 $18,365.47
204 $18,365.47 $48.50 $0.00 $103.84 $18,517.81
205 $18,517.81 $48.50 $0.00 $104.70 $18,671.01
206 $18,671.01 $48.50 $0.00 $105.57 $18,825.08
207 $18,825.08 $48.50 $0.00 $106.44 $18,980.02
208 $18,980.02 $48.50 $0.00 $107.32 $19,135.84
209 $19,135.84 $48.50 $0.00 $108.20 $19,292.54
210 $19,292.54 $48.50 $0.00 $109.08 $19,450.12
211 $19,450.12 $48.50 $0.00 $109.97 $19,608.59
212 $19,608.59 $48.50 $0.00 $110.87 $19,767.96
213 $19,767.96 $48.50 $0.00 $111.77 $19,928.23
214 $19,928.23 $48.50 $0.00 $112.68 $20,089.41
215 $20,089.41 $48.50 $0.00 $113.59 $20,251.50
216 $20,251.50 $48.50 $0.00 $114.50 $20,414.50
217 $20,414.50 $48.50 $10,646.88 $115.43 $9,931.55
218 $9,931.55 $48.50 $0.00 $56.15 $10,036.20
219 $10,036.20 $48.50 $0.00 $56.75 $10,141.45
220 $10,141.45 $48.50 $0.00 $57.34 $10,247.29
221 $10,247.29 $48.50 $0.00 $57.94 $10,353.73
222 $10,353.73 $48.50 $0.00 $58.54 $10,460.77
223 $10,460.77 $48.50 $0.00 $59.15 $10,568.42
224 $10,568.42 $48.50 $0.00 $59.76 $10,676.68
225 $10,676.68 $48.50 $0.00 $60.37 $10,785.55
226 $10,785.55 $48.50 $0.00 $60.98 $10,895.03
227 $10,895.03 $48.50 $0.00 $61.60 $11,005.13
228 $11,005.13 $48.50 $0.00 $62.22 $11,115.85
229 $11,115.85 $0.00 $11,179.23 $62.85 ($0.53)