Savings Plan and Future Cost Estimation for Wayne County Community College District

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$56,024
Monthly savings required$249

How much will it cost to send your child to Wayne County Community College District in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $112,048.30 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $248.91 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$16,015.00
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 $248.91 $0.00 $0.00 $248.91
2 $248.91 $248.91 $0.00 $1.41 $499.23
3 $499.23 $248.91 $0.00 $2.82 $750.96
4 $750.96 $248.91 $0.00 $4.25 $1,004.12
5 $1,004.12 $248.91 $0.00 $5.68 $1,258.71
6 $1,258.71 $248.91 $0.00 $7.12 $1,514.74
7 $1,514.74 $248.91 $0.00 $8.56 $1,772.21
8 $1,772.21 $248.91 $0.00 $10.02 $2,031.14
9 $2,031.14 $248.91 $0.00 $11.48 $2,291.53
10 $2,291.53 $248.91 $0.00 $12.96 $2,553.40
11 $2,553.40 $248.91 $0.00 $14.44 $2,816.75
12 $2,816.75 $248.91 $0.00 $15.93 $3,081.59
13 $3,081.59 $248.91 $0.00 $17.42 $3,347.92
14 $3,347.92 $248.91 $0.00 $18.93 $3,615.76
15 $3,615.76 $248.91 $0.00 $20.44 $3,885.11
16 $3,885.11 $248.91 $0.00 $21.97 $4,155.99
17 $4,155.99 $248.91 $0.00 $23.50 $4,428.40
18 $4,428.40 $248.91 $0.00 $25.04 $4,702.35
19 $4,702.35 $248.91 $0.00 $26.59 $4,977.85
20 $4,977.85 $248.91 $0.00 $28.15 $5,254.91
21 $5,254.91 $248.91 $0.00 $29.71 $5,533.53
22 $5,533.53 $248.91 $0.00 $31.29 $5,813.73
23 $5,813.73 $248.91 $0.00 $32.87 $6,095.51
24 $6,095.51 $248.91 $0.00 $34.46 $6,378.88
25 $6,378.88 $248.91 $0.00 $36.07 $6,663.86
26 $6,663.86 $248.91 $0.00 $37.68 $6,950.45
27 $6,950.45 $248.91 $0.00 $39.30 $7,238.66
28 $7,238.66 $248.91 $0.00 $40.93 $7,528.50
29 $7,528.50 $248.91 $0.00 $42.57 $7,819.98
30 $7,819.98 $248.91 $0.00 $44.22 $8,113.11
31 $8,113.11 $248.91 $0.00 $45.87 $8,407.89
32 $8,407.89 $248.91 $0.00 $47.54 $8,704.34
33 $8,704.34 $248.91 $0.00 $49.22 $9,002.47
34 $9,002.47 $248.91 $0.00 $50.90 $9,302.28
35 $9,302.28 $248.91 $0.00 $52.60 $9,603.79
36 $9,603.79 $248.91 $0.00 $54.30 $9,907.00
37 $9,907.00 $248.91 $0.00 $56.02 $10,211.93
38 $10,211.93 $248.91 $0.00 $57.74 $10,518.58
39 $10,518.58 $248.91 $0.00 $59.47 $10,826.96
40 $10,826.96 $248.91 $0.00 $61.22 $11,137.09
41 $11,137.09 $248.91 $0.00 $62.97 $11,448.97
42 $11,448.97 $248.91 $0.00 $64.73 $11,762.61
43 $11,762.61 $248.91 $0.00 $66.51 $12,078.03
44 $12,078.03 $248.91 $0.00 $68.29 $12,395.23
45 $12,395.23 $248.91 $0.00 $70.08 $12,714.22
46 $12,714.22 $248.91 $0.00 $71.89 $13,035.02
47 $13,035.02 $248.91 $0.00 $73.70 $13,357.63
48 $13,357.63 $248.91 $0.00 $75.53 $13,682.07
49 $13,682.07 $248.91 $0.00 $77.36 $14,008.34
50 $14,008.34 $248.91 $0.00 $79.21 $14,336.46
51 $14,336.46 $248.91 $0.00 $81.06 $14,666.43
52 $14,666.43 $248.91 $0.00 $82.93 $14,998.27
53 $14,998.27 $248.91 $0.00 $84.80 $15,331.98
54 $15,331.98 $248.91 $0.00 $86.69 $15,667.58
55 $15,667.58 $248.91 $0.00 $88.59 $16,005.08
56 $16,005.08 $248.91 $0.00 $90.50 $16,344.49
57 $16,344.49 $248.91 $0.00 $92.41 $16,685.81
58 $16,685.81 $248.91 $0.00 $94.34 $17,029.06
59 $17,029.06 $248.91 $0.00 $96.28 $17,374.25
60 $17,374.25 $248.91 $0.00 $98.24 $17,721.40
61 $17,721.40 $248.91 $0.00 $100.20 $18,070.51
62 $18,070.51 $248.91 $0.00 $102.17 $18,421.59
63 $18,421.59 $248.91 $0.00 $104.16 $18,774.66
64 $18,774.66 $248.91 $0.00 $106.15 $19,129.72
65 $19,129.72 $248.91 $0.00 $108.16 $19,486.79
66 $19,486.79 $248.91 $0.00 $110.18 $19,845.88
67 $19,845.88 $248.91 $0.00 $112.21 $20,207.00
68 $20,207.00 $248.91 $0.00 $114.25 $20,570.16
69 $20,570.16 $248.91 $0.00 $116.31 $20,935.38
70 $20,935.38 $248.91 $0.00 $118.37 $21,302.66
71 $21,302.66 $248.91 $0.00 $120.45 $21,672.02
72 $21,672.02 $248.91 $0.00 $122.54 $22,043.47
73 $22,043.47 $248.91 $0.00 $124.64 $22,417.02
74 $22,417.02 $248.91 $0.00 $126.75 $22,792.68
75 $22,792.68 $248.91 $0.00 $128.87 $23,170.46
76 $23,170.46 $248.91 $0.00 $131.01 $23,550.38
77 $23,550.38 $248.91 $0.00 $133.16 $23,932.45
78 $23,932.45 $248.91 $0.00 $135.32 $24,316.68
79 $24,316.68 $248.91 $0.00 $137.49 $24,703.08
80 $24,703.08 $248.91 $0.00 $139.67 $25,091.66
81 $25,091.66 $248.91 $0.00 $141.87 $25,482.44
82 $25,482.44 $248.91 $0.00 $144.08 $25,875.43
83 $25,875.43 $248.91 $0.00 $146.30 $26,270.64
84 $26,270.64 $248.91 $0.00 $148.54 $26,668.09
85 $26,668.09 $248.91 $0.00 $150.79 $27,067.79
86 $27,067.79 $248.91 $0.00 $153.05 $27,469.75
87 $27,469.75 $248.91 $0.00 $155.32 $27,873.98
88 $27,873.98 $248.91 $0.00 $157.60 $28,280.49
89 $28,280.49 $248.91 $0.00 $159.90 $28,689.30
90 $28,689.30 $248.91 $0.00 $162.21 $29,100.42
91 $29,100.42 $248.91 $0.00 $164.54 $29,513.87
92 $29,513.87 $248.91 $0.00 $166.88 $29,929.66
93 $29,929.66 $248.91 $0.00 $169.23 $30,347.80
94 $30,347.80 $248.91 $0.00 $171.59 $30,768.30
95 $30,768.30 $248.91 $0.00 $173.97 $31,191.18
96 $31,191.18 $248.91 $0.00 $176.36 $31,616.45
97 $31,616.45 $248.91 $0.00 $178.76 $32,044.12
98 $32,044.12 $248.91 $0.00 $181.18 $32,474.21
99 $32,474.21 $248.91 $0.00 $183.61 $32,906.73
100 $32,906.73 $248.91 $0.00 $186.06 $33,341.70
101 $33,341.70 $248.91 $0.00 $188.52 $33,779.13
102 $33,779.13 $248.91 $0.00 $190.99 $34,219.03
103 $34,219.03 $248.91 $0.00 $193.48 $34,661.42
104 $34,661.42 $248.91 $0.00 $195.98 $35,106.31
105 $35,106.31 $248.91 $0.00 $198.50 $35,553.72
106 $35,553.72 $248.91 $0.00 $201.03 $36,003.66
107 $36,003.66 $248.91 $0.00 $203.57 $36,456.14
108 $36,456.14 $248.91 $0.00 $206.13 $36,911.18
109 $36,911.18 $248.91 $0.00 $208.70 $37,368.79
110 $37,368.79 $248.91 $0.00 $211.29 $37,828.99
111 $37,828.99 $248.91 $0.00 $213.89 $38,291.79
112 $38,291.79 $248.91 $0.00 $216.51 $38,757.21
113 $38,757.21 $248.91 $0.00 $219.14 $39,225.26
114 $39,225.26 $248.91 $0.00 $221.79 $39,695.96
115 $39,695.96 $248.91 $0.00 $224.45 $40,169.32
116 $40,169.32 $248.91 $0.00 $227.12 $40,645.35
117 $40,645.35 $248.91 $0.00 $229.81 $41,124.07
118 $41,124.07 $248.91 $0.00 $232.52 $41,605.50
119 $41,605.50 $248.91 $0.00 $235.24 $42,089.65
120 $42,089.65 $248.91 $0.00 $237.98 $42,576.54
121 $42,576.54 $248.91 $0.00 $240.73 $43,066.18
122 $43,066.18 $248.91 $0.00 $243.50 $43,558.59
123 $43,558.59 $248.91 $0.00 $246.29 $44,053.79
124 $44,053.79 $248.91 $0.00 $249.09 $44,551.79
125 $44,551.79 $248.91 $0.00 $251.90 $45,052.60
126 $45,052.60 $248.91 $0.00 $254.73 $45,556.24
127 $45,556.24 $248.91 $0.00 $257.58 $46,062.73
128 $46,062.73 $248.91 $0.00 $260.45 $46,572.09
129 $46,572.09 $248.91 $0.00 $263.33 $47,084.33
130 $47,084.33 $248.91 $0.00 $266.22 $47,599.46
131 $47,599.46 $248.91 $0.00 $269.13 $48,117.50
132 $48,117.50 $248.91 $0.00 $272.06 $48,638.47
133 $48,638.47 $248.91 $0.00 $275.01 $49,162.39
134 $49,162.39 $248.91 $0.00 $277.97 $49,689.27
135 $49,689.27 $248.91 $0.00 $280.95 $50,219.13
136 $50,219.13 $248.91 $0.00 $283.95 $50,751.99
137 $50,751.99 $248.91 $0.00 $286.96 $51,287.86
138 $51,287.86 $248.91 $0.00 $289.99 $51,826.76
139 $51,826.76 $248.91 $0.00 $293.04 $52,368.71
140 $52,368.71 $248.91 $0.00 $296.10 $52,913.72
141 $52,913.72 $248.91 $0.00 $299.18 $53,461.81
142 $53,461.81 $248.91 $0.00 $302.28 $54,013.00
143 $54,013.00 $248.91 $0.00 $305.40 $54,567.31
144 $54,567.31 $248.91 $0.00 $308.53 $55,124.75
145 $55,124.75 $248.91 $0.00 $311.68 $55,685.34
146 $55,685.34 $248.91 $0.00 $314.85 $56,249.10
147 $56,249.10 $248.91 $0.00 $318.04 $56,816.05
148 $56,816.05 $248.91 $0.00 $321.25 $57,386.21
149 $57,386.21 $248.91 $0.00 $324.47 $57,959.59
150 $57,959.59 $248.91 $0.00 $327.71 $58,536.21
151 $58,536.21 $248.91 $0.00 $330.97 $59,116.09
152 $59,116.09 $248.91 $0.00 $334.25 $59,699.25
153 $59,699.25 $248.91 $0.00 $337.55 $60,285.71
154 $60,285.71 $248.91 $0.00 $340.86 $60,875.48
155 $60,875.48 $248.91 $0.00 $344.20 $61,468.59
156 $61,468.59 $248.91 $0.00 $347.55 $62,065.05
157 $62,065.05 $248.91 $0.00 $350.92 $62,664.88
158 $62,664.88 $248.91 $0.00 $354.32 $63,268.11
159 $63,268.11 $248.91 $0.00 $357.73 $63,874.75
160 $63,874.75 $248.91 $0.00 $361.16 $64,484.82
161 $64,484.82 $248.91 $0.00 $364.61 $65,098.34
162 $65,098.34 $248.91 $0.00 $368.08 $65,715.33
163 $65,715.33 $248.91 $0.00 $371.56 $66,335.80
164 $66,335.80 $248.91 $0.00 $375.07 $66,959.78
165 $66,959.78 $248.91 $0.00 $378.60 $67,587.29
166 $67,587.29 $248.91 $0.00 $382.15 $68,218.35
167 $68,218.35 $248.91 $0.00 $385.72 $68,852.98
168 $68,852.98 $248.91 $0.00 $389.30 $69,491.19
169 $69,491.19 $248.91 $0.00 $392.91 $70,133.01
170 $70,133.01 $248.91 $0.00 $396.54 $70,778.46
171 $70,778.46 $248.91 $0.00 $400.19 $71,427.56
172 $71,427.56 $248.91 $0.00 $403.86 $72,080.33
173 $72,080.33 $248.91 $0.00 $407.55 $72,736.79
174 $72,736.79 $248.91 $0.00 $411.26 $73,396.96
175 $73,396.96 $248.91 $0.00 $415.00 $74,060.87
176 $74,060.87 $248.91 $0.00 $418.75 $74,728.53
177 $74,728.53 $248.91 $0.00 $422.53 $75,399.97
178 $75,399.97 $248.91 $0.00 $426.32 $76,075.20
179 $76,075.20 $248.91 $0.00 $430.14 $76,754.25
180 $76,754.25 $248.91 $0.00 $433.98 $77,437.14
181 $77,437.14 $248.91 $0.00 $437.84 $78,123.89
182 $78,123.89 $248.91 $0.00 $441.72 $78,814.52
183 $78,814.52 $248.91 $0.00 $445.63 $79,509.06
184 $79,509.06 $248.91 $0.00 $449.56 $80,207.53
185 $80,207.53 $248.91 $0.00 $453.51 $80,909.95
186 $80,909.95 $248.91 $0.00 $457.48 $81,616.34
187 $81,616.34 $248.91 $0.00 $461.47 $82,326.72
188 $82,326.72 $248.91 $0.00 $465.49 $83,041.12
189 $83,041.12 $248.91 $0.00 $469.53 $83,759.56
190 $83,759.56 $248.91 $0.00 $473.59 $84,482.06
191 $84,482.06 $248.91 $0.00 $477.67 $85,208.64
192 $85,208.64 $248.91 $0.00 $481.78 $85,939.33
193 $85,939.33 $248.91 $0.00 $485.91 $86,674.15
194 $86,674.15 $248.91 $0.00 $490.07 $87,413.13
195 $87,413.13 $248.91 $0.00 $494.25 $88,156.29
196 $88,156.29 $248.91 $0.00 $498.45 $88,903.65
197 $88,903.65 $248.91 $0.00 $502.67 $89,655.23
198 $89,655.23 $248.91 $0.00 $506.92 $90,411.06
199 $90,411.06 $248.91 $0.00 $511.20 $91,171.17
200 $91,171.17 $248.91 $0.00 $515.50 $91,935.58
201 $91,935.58 $248.91 $0.00 $519.82 $92,704.31
202 $92,704.31 $248.91 $0.00 $524.16 $93,477.38
203 $93,477.38 $248.91 $0.00 $528.53 $94,254.82
204 $94,254.82 $248.91 $0.00 $532.93 $95,036.66
205 $95,036.66 $248.91 $0.00 $537.35 $95,822.92
206 $95,822.92 $248.91 $0.00 $541.80 $96,613.63
207 $96,613.63 $248.91 $0.00 $546.27 $97,408.81
208 $97,408.81 $248.91 $0.00 $550.76 $98,208.48
209 $98,208.48 $248.91 $0.00 $555.29 $99,012.68
210 $99,012.68 $248.91 $0.00 $559.83 $99,821.42
211 $99,821.42 $248.91 $0.00 $564.40 $100,634.73
212 $100,634.73 $248.91 $0.00 $569.00 $101,452.64
213 $101,452.64 $248.91 $0.00 $573.63 $102,275.18
214 $102,275.18 $248.91 $0.00 $578.28 $103,102.37
215 $103,102.37 $248.91 $0.00 $582.96 $103,934.24
216 $103,934.24 $248.91 $0.00 $587.66 $104,770.81
217 $104,770.81 $248.91 $54,129.62 $592.39 $51,482.49
218 $51,482.49 $248.91 $0.00 $291.09 $52,022.49
219 $52,022.49 $248.91 $0.00 $294.14 $52,565.54
220 $52,565.54 $248.91 $0.00 $297.21 $53,111.66
221 $53,111.66 $248.91 $0.00 $300.30 $53,660.87
222 $53,660.87 $248.91 $0.00 $303.41 $54,213.19
223 $54,213.19 $248.91 $0.00 $306.53 $54,768.63
224 $54,768.63 $248.91 $0.00 $309.67 $55,327.21
225 $55,327.21 $248.91 $0.00 $312.83 $55,888.95
226 $55,888.95 $248.91 $0.00 $316.00 $56,453.86
227 $56,453.86 $248.91 $0.00 $319.20 $57,021.97
228 $57,021.97 $248.91 $0.00 $322.41 $57,593.29
229 $57,593.29 $0.00 $57,918.69 $325.64 $0.24