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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$37,098
Monthly savings required$165

How much will it cost to send your child to Baltimore City Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $74,195.95 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $164.87 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$15,039.00
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 $164.87 $0.00 $0.00 $164.87
2 $164.87 $164.87 $0.00 $0.93 $330.67
3 $330.67 $164.87 $0.00 $1.87 $497.41
4 $497.41 $164.87 $0.00 $2.81 $665.09
5 $665.09 $164.87 $0.00 $3.76 $833.72
6 $833.72 $164.87 $0.00 $4.71 $1,003.30
7 $1,003.30 $164.87 $0.00 $5.67 $1,173.84
8 $1,173.84 $164.87 $0.00 $6.64 $1,345.35
9 $1,345.35 $164.87 $0.00 $7.61 $1,517.83
10 $1,517.83 $164.87 $0.00 $8.58 $1,691.28
11 $1,691.28 $164.87 $0.00 $9.56 $1,865.71
12 $1,865.71 $164.87 $0.00 $10.55 $2,041.13
13 $2,041.13 $164.87 $0.00 $11.54 $2,217.54
14 $2,217.54 $164.87 $0.00 $12.54 $2,394.95
15 $2,394.95 $164.87 $0.00 $13.54 $2,573.36
16 $2,573.36 $164.87 $0.00 $14.55 $2,752.78
17 $2,752.78 $164.87 $0.00 $15.56 $2,933.21
18 $2,933.21 $164.87 $0.00 $16.58 $3,114.66
19 $3,114.66 $164.87 $0.00 $17.61 $3,297.14
20 $3,297.14 $164.87 $0.00 $18.64 $3,480.65
21 $3,480.65 $164.87 $0.00 $19.68 $3,665.20
22 $3,665.20 $164.87 $0.00 $20.72 $3,850.79
23 $3,850.79 $164.87 $0.00 $21.77 $4,037.43
24 $4,037.43 $164.87 $0.00 $22.83 $4,225.13
25 $4,225.13 $164.87 $0.00 $23.89 $4,413.89
26 $4,413.89 $164.87 $0.00 $24.96 $4,603.72
27 $4,603.72 $164.87 $0.00 $26.03 $4,794.62
28 $4,794.62 $164.87 $0.00 $27.11 $4,986.60
29 $4,986.60 $164.87 $0.00 $28.19 $5,179.66
30 $5,179.66 $164.87 $0.00 $29.29 $5,373.82
31 $5,373.82 $164.87 $0.00 $30.38 $5,569.07
32 $5,569.07 $164.87 $0.00 $31.49 $5,765.43
33 $5,765.43 $164.87 $0.00 $32.60 $5,962.90
34 $5,962.90 $164.87 $0.00 $33.72 $6,161.49
35 $6,161.49 $164.87 $0.00 $34.84 $6,361.20
36 $6,361.20 $164.87 $0.00 $35.97 $6,562.04
37 $6,562.04 $164.87 $0.00 $37.10 $6,764.01
38 $6,764.01 $164.87 $0.00 $38.24 $6,967.12
39 $6,967.12 $164.87 $0.00 $39.39 $7,171.38
40 $7,171.38 $164.87 $0.00 $40.55 $7,376.80
41 $7,376.80 $164.87 $0.00 $41.71 $7,583.38
42 $7,583.38 $164.87 $0.00 $42.88 $7,791.13
43 $7,791.13 $164.87 $0.00 $44.05 $8,000.05
44 $8,000.05 $164.87 $0.00 $45.23 $8,210.15
45 $8,210.15 $164.87 $0.00 $46.42 $8,421.44
46 $8,421.44 $164.87 $0.00 $47.62 $8,633.93
47 $8,633.93 $164.87 $0.00 $48.82 $8,847.62
48 $8,847.62 $164.87 $0.00 $50.03 $9,062.52
49 $9,062.52 $164.87 $0.00 $51.24 $9,278.63
50 $9,278.63 $164.87 $0.00 $52.46 $9,495.96
51 $9,495.96 $164.87 $0.00 $53.69 $9,714.52
52 $9,714.52 $164.87 $0.00 $54.93 $9,934.32
53 $9,934.32 $164.87 $0.00 $56.17 $10,155.36
54 $10,155.36 $164.87 $0.00 $57.42 $10,377.65
55 $10,377.65 $164.87 $0.00 $58.68 $10,601.20
56 $10,601.20 $164.87 $0.00 $59.94 $10,826.01
57 $10,826.01 $164.87 $0.00 $61.21 $11,052.09
58 $11,052.09 $164.87 $0.00 $62.49 $11,279.45
59 $11,279.45 $164.87 $0.00 $63.78 $11,508.10
60 $11,508.10 $164.87 $0.00 $65.07 $11,738.04
61 $11,738.04 $164.87 $0.00 $66.37 $11,969.28
62 $11,969.28 $164.87 $0.00 $67.68 $12,201.83
63 $12,201.83 $164.87 $0.00 $68.99 $12,435.69
64 $12,435.69 $164.87 $0.00 $70.31 $12,670.87
65 $12,670.87 $164.87 $0.00 $71.64 $12,907.38
66 $12,907.38 $164.87 $0.00 $72.98 $13,145.23
67 $13,145.23 $164.87 $0.00 $74.33 $13,384.43
68 $13,384.43 $164.87 $0.00 $75.68 $13,624.98
69 $13,624.98 $164.87 $0.00 $77.04 $13,866.89
70 $13,866.89 $164.87 $0.00 $78.41 $14,110.17
71 $14,110.17 $164.87 $0.00 $79.78 $14,354.82
72 $14,354.82 $164.87 $0.00 $81.16 $14,600.85
73 $14,600.85 $164.87 $0.00 $82.56 $14,848.28
74 $14,848.28 $164.87 $0.00 $83.95 $15,097.10
75 $15,097.10 $164.87 $0.00 $85.36 $15,347.33
76 $15,347.33 $164.87 $0.00 $86.78 $15,598.98
77 $15,598.98 $164.87 $0.00 $88.20 $15,852.05
78 $15,852.05 $164.87 $0.00 $89.63 $16,106.55
79 $16,106.55 $164.87 $0.00 $91.07 $16,362.49
80 $16,362.49 $164.87 $0.00 $92.52 $16,619.88
81 $16,619.88 $164.87 $0.00 $93.97 $16,878.72
82 $16,878.72 $164.87 $0.00 $95.43 $17,139.02
83 $17,139.02 $164.87 $0.00 $96.91 $17,400.80
84 $17,400.80 $164.87 $0.00 $98.39 $17,664.06
85 $17,664.06 $164.87 $0.00 $99.88 $17,928.81
86 $17,928.81 $164.87 $0.00 $101.37 $18,195.05
87 $18,195.05 $164.87 $0.00 $102.88 $18,462.80
88 $18,462.80 $164.87 $0.00 $104.39 $18,732.06
89 $18,732.06 $164.87 $0.00 $105.91 $19,002.84
90 $19,002.84 $164.87 $0.00 $107.44 $19,275.15
91 $19,275.15 $164.87 $0.00 $108.98 $19,549.00
92 $19,549.00 $164.87 $0.00 $110.53 $19,824.40
93 $19,824.40 $164.87 $0.00 $112.09 $20,101.36
94 $20,101.36 $164.87 $0.00 $113.66 $20,379.89
95 $20,379.89 $164.87 $0.00 $115.23 $20,659.99
96 $20,659.99 $164.87 $0.00 $116.81 $20,941.67
97 $20,941.67 $164.87 $0.00 $118.41 $21,224.95
98 $21,224.95 $164.87 $0.00 $120.01 $21,509.83
99 $21,509.83 $164.87 $0.00 $121.62 $21,796.32
100 $21,796.32 $164.87 $0.00 $123.24 $22,084.43
101 $22,084.43 $164.87 $0.00 $124.87 $22,374.17
102 $22,374.17 $164.87 $0.00 $126.51 $22,665.55
103 $22,665.55 $164.87 $0.00 $128.15 $22,958.57
104 $22,958.57 $164.87 $0.00 $129.81 $23,253.25
105 $23,253.25 $164.87 $0.00 $131.48 $23,549.60
106 $23,549.60 $164.87 $0.00 $133.15 $23,847.62
107 $23,847.62 $164.87 $0.00 $134.84 $24,147.33
108 $24,147.33 $164.87 $0.00 $136.53 $24,448.73
109 $24,448.73 $164.87 $0.00 $138.24 $24,751.84
110 $24,751.84 $164.87 $0.00 $139.95 $25,056.66
111 $25,056.66 $164.87 $0.00 $141.67 $25,363.20
112 $25,363.20 $164.87 $0.00 $143.41 $25,671.48
113 $25,671.48 $164.87 $0.00 $145.15 $25,981.50
114 $25,981.50 $164.87 $0.00 $146.90 $26,293.27
115 $26,293.27 $164.87 $0.00 $148.67 $26,606.81
116 $26,606.81 $164.87 $0.00 $150.44 $26,922.12
117 $26,922.12 $164.87 $0.00 $152.22 $27,239.21
118 $27,239.21 $164.87 $0.00 $154.01 $27,558.09
119 $27,558.09 $164.87 $0.00 $155.82 $27,878.78
120 $27,878.78 $164.87 $0.00 $157.63 $28,201.28
121 $28,201.28 $164.87 $0.00 $159.45 $28,525.60
122 $28,525.60 $164.87 $0.00 $161.29 $28,851.76
123 $28,851.76 $164.87 $0.00 $163.13 $29,179.76
124 $29,179.76 $164.87 $0.00 $164.99 $29,509.62
125 $29,509.62 $164.87 $0.00 $166.85 $29,841.34
126 $29,841.34 $164.87 $0.00 $168.73 $30,174.94
127 $30,174.94 $164.87 $0.00 $170.61 $30,510.42
128 $30,510.42 $164.87 $0.00 $172.51 $30,847.80
129 $30,847.80 $164.87 $0.00 $174.42 $31,187.09
130 $31,187.09 $164.87 $0.00 $176.34 $31,528.30
131 $31,528.30 $164.87 $0.00 $178.27 $31,871.44
132 $31,871.44 $164.87 $0.00 $180.21 $32,216.52
133 $32,216.52 $164.87 $0.00 $182.16 $32,563.55
134 $32,563.55 $164.87 $0.00 $184.12 $32,912.54
135 $32,912.54 $164.87 $0.00 $186.09 $33,263.50
136 $33,263.50 $164.87 $0.00 $188.08 $33,616.45
137 $33,616.45 $164.87 $0.00 $190.07 $33,971.39
138 $33,971.39 $164.87 $0.00 $192.08 $34,328.34
139 $34,328.34 $164.87 $0.00 $194.10 $34,687.31
140 $34,687.31 $164.87 $0.00 $196.13 $35,048.31
141 $35,048.31 $164.87 $0.00 $198.17 $35,411.35
142 $35,411.35 $164.87 $0.00 $200.22 $35,776.44
143 $35,776.44 $164.87 $0.00 $202.29 $36,143.60
144 $36,143.60 $164.87 $0.00 $204.36 $36,512.83
145 $36,512.83 $164.87 $0.00 $206.45 $36,884.15
146 $36,884.15 $164.87 $0.00 $208.55 $37,257.57
147 $37,257.57 $164.87 $0.00 $210.66 $37,633.10
148 $37,633.10 $164.87 $0.00 $212.78 $38,010.75
149 $38,010.75 $164.87 $0.00 $214.92 $38,390.54
150 $38,390.54 $164.87 $0.00 $217.07 $38,772.48
151 $38,772.48 $164.87 $0.00 $219.23 $39,156.58
152 $39,156.58 $164.87 $0.00 $221.40 $39,542.85
153 $39,542.85 $164.87 $0.00 $223.58 $39,931.30
154 $39,931.30 $164.87 $0.00 $225.78 $40,321.95
155 $40,321.95 $164.87 $0.00 $227.99 $40,714.81
156 $40,714.81 $164.87 $0.00 $230.21 $41,109.89
157 $41,109.89 $164.87 $0.00 $232.44 $41,507.20
158 $41,507.20 $164.87 $0.00 $234.69 $41,906.76
159 $41,906.76 $164.87 $0.00 $236.95 $42,308.58
160 $42,308.58 $164.87 $0.00 $239.22 $42,712.67
161 $42,712.67 $164.87 $0.00 $241.50 $43,119.04
162 $43,119.04 $164.87 $0.00 $243.80 $43,527.71
163 $43,527.71 $164.87 $0.00 $246.11 $43,938.69
164 $43,938.69 $164.87 $0.00 $248.44 $44,352.00
165 $44,352.00 $164.87 $0.00 $250.77 $44,767.64
166 $44,767.64 $164.87 $0.00 $253.12 $45,185.63
167 $45,185.63 $164.87 $0.00 $255.49 $45,605.99
168 $45,605.99 $164.87 $0.00 $257.86 $46,028.72
169 $46,028.72 $164.87 $0.00 $260.25 $46,453.84
170 $46,453.84 $164.87 $0.00 $262.66 $46,881.37
171 $46,881.37 $164.87 $0.00 $265.07 $47,311.31
172 $47,311.31 $164.87 $0.00 $267.51 $47,743.69
173 $47,743.69 $164.87 $0.00 $269.95 $48,178.51
174 $48,178.51 $164.87 $0.00 $272.41 $48,615.79
175 $48,615.79 $164.87 $0.00 $274.88 $49,055.54
176 $49,055.54 $164.87 $0.00 $277.37 $49,497.78
177 $49,497.78 $164.87 $0.00 $279.87 $49,942.52
178 $49,942.52 $164.87 $0.00 $282.38 $50,389.77
179 $50,389.77 $164.87 $0.00 $284.91 $50,839.55
180 $50,839.55 $164.87 $0.00 $287.45 $51,291.87
181 $51,291.87 $164.87 $0.00 $290.01 $51,746.75
182 $51,746.75 $164.87 $0.00 $292.58 $52,204.20
183 $52,204.20 $164.87 $0.00 $295.17 $52,664.24
184 $52,664.24 $164.87 $0.00 $297.77 $53,126.88
185 $53,126.88 $164.87 $0.00 $300.39 $53,592.14
186 $53,592.14 $164.87 $0.00 $303.02 $54,060.03
187 $54,060.03 $164.87 $0.00 $305.66 $54,530.56
188 $54,530.56 $164.87 $0.00 $308.32 $55,003.75
189 $55,003.75 $164.87 $0.00 $311.00 $55,479.62
190 $55,479.62 $164.87 $0.00 $313.69 $55,958.18
191 $55,958.18 $164.87 $0.00 $316.40 $56,439.45
192 $56,439.45 $164.87 $0.00 $319.12 $56,923.44
193 $56,923.44 $164.87 $0.00 $321.85 $57,410.16
194 $57,410.16 $164.87 $0.00 $324.61 $57,899.64
195 $57,899.64 $164.87 $0.00 $327.37 $58,391.88
196 $58,391.88 $164.87 $0.00 $330.16 $58,886.91
197 $58,886.91 $164.87 $0.00 $332.96 $59,384.74
198 $59,384.74 $164.87 $0.00 $335.77 $59,885.38
199 $59,885.38 $164.87 $0.00 $338.60 $60,388.85
200 $60,388.85 $164.87 $0.00 $341.45 $60,895.17
201 $60,895.17 $164.87 $0.00 $344.31 $61,404.35
202 $61,404.35 $164.87 $0.00 $347.19 $61,916.41
203 $61,916.41 $164.87 $0.00 $350.08 $62,431.36
204 $62,431.36 $164.87 $0.00 $353.00 $62,949.23
205 $62,949.23 $164.87 $0.00 $355.92 $63,470.02
206 $63,470.02 $164.87 $0.00 $358.87 $63,993.76
207 $63,993.76 $164.87 $0.00 $361.83 $64,520.46
208 $64,520.46 $164.87 $0.00 $364.81 $65,050.14
209 $65,050.14 $164.87 $0.00 $367.80 $65,582.81
210 $65,582.81 $164.87 $0.00 $370.81 $66,118.49
211 $66,118.49 $164.87 $0.00 $373.84 $66,657.20
212 $66,657.20 $164.87 $0.00 $376.89 $67,198.96
213 $67,198.96 $164.87 $0.00 $379.95 $67,743.78
214 $67,743.78 $164.87 $0.00 $383.03 $68,291.68
215 $68,291.68 $164.87 $0.00 $386.13 $68,842.68
216 $68,842.68 $164.87 $0.00 $389.25 $69,396.80
217 $69,396.80 $164.87 $36,193.15 $392.38 $33,760.90
218 $33,760.90 $164.87 $0.00 $190.89 $34,116.66
219 $34,116.66 $164.87 $0.00 $192.90 $34,474.43
220 $34,474.43 $164.87 $0.00 $194.92 $34,834.22
221 $34,834.22 $164.87 $0.00 $196.96 $35,196.05
222 $35,196.05 $164.87 $0.00 $199.00 $35,559.92
223 $35,559.92 $164.87 $0.00 $201.06 $35,925.85
224 $35,925.85 $164.87 $0.00 $203.13 $36,293.85
225 $36,293.85 $164.87 $0.00 $205.21 $36,663.93
226 $36,663.93 $164.87 $0.00 $207.30 $37,036.10
227 $37,036.10 $164.87 $0.00 $209.41 $37,410.38
228 $37,410.38 $164.87 $0.00 $211.52 $37,786.77
229 $37,786.77 $0.00 $38,002.80 $213.65 ($2.38)