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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$42,303
Monthly savings required$188

How much will it cost to send your child to Northland Community and Technical College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $84,605.78 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $188.01 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$17,149.00
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 $188.01 $0.00 $0.00 $188.01
2 $188.01 $188.01 $0.00 $1.06 $377.08
3 $377.08 $188.01 $0.00 $2.13 $567.22
4 $567.22 $188.01 $0.00 $3.21 $758.44
5 $758.44 $188.01 $0.00 $4.29 $950.74
6 $950.74 $188.01 $0.00 $5.38 $1,144.13
7 $1,144.13 $188.01 $0.00 $6.47 $1,338.61
8 $1,338.61 $188.01 $0.00 $7.57 $1,534.19
9 $1,534.19 $188.01 $0.00 $8.67 $1,730.87
10 $1,730.87 $188.01 $0.00 $9.79 $1,928.67
11 $1,928.67 $188.01 $0.00 $10.90 $2,127.58
12 $2,127.58 $188.01 $0.00 $12.03 $2,327.62
13 $2,327.62 $188.01 $0.00 $13.16 $2,528.79
14 $2,528.79 $188.01 $0.00 $14.30 $2,731.10
15 $2,731.10 $188.01 $0.00 $15.44 $2,934.55
16 $2,934.55 $188.01 $0.00 $16.59 $3,139.15
17 $3,139.15 $188.01 $0.00 $17.75 $3,344.91
18 $3,344.91 $188.01 $0.00 $18.91 $3,551.83
19 $3,551.83 $188.01 $0.00 $20.08 $3,759.92
20 $3,759.92 $188.01 $0.00 $21.26 $3,969.19
21 $3,969.19 $188.01 $0.00 $22.44 $4,179.64
22 $4,179.64 $188.01 $0.00 $23.63 $4,391.28
23 $4,391.28 $188.01 $0.00 $24.83 $4,604.12
24 $4,604.12 $188.01 $0.00 $26.03 $4,818.16
25 $4,818.16 $188.01 $0.00 $27.24 $5,033.41
26 $5,033.41 $188.01 $0.00 $28.46 $5,249.88
27 $5,249.88 $188.01 $0.00 $29.68 $5,467.57
28 $5,467.57 $188.01 $0.00 $30.91 $5,686.49
29 $5,686.49 $188.01 $0.00 $32.15 $5,906.65
30 $5,906.65 $188.01 $0.00 $33.40 $6,128.06
31 $6,128.06 $188.01 $0.00 $34.65 $6,350.72
32 $6,350.72 $188.01 $0.00 $35.91 $6,574.64
33 $6,574.64 $188.01 $0.00 $37.17 $6,799.82
34 $6,799.82 $188.01 $0.00 $38.45 $7,026.28
35 $7,026.28 $188.01 $0.00 $39.73 $7,254.02
36 $7,254.02 $188.01 $0.00 $41.02 $7,483.05
37 $7,483.05 $188.01 $0.00 $42.31 $7,713.37
38 $7,713.37 $188.01 $0.00 $43.61 $7,944.99
39 $7,944.99 $188.01 $0.00 $44.92 $8,177.92
40 $8,177.92 $188.01 $0.00 $46.24 $8,412.17
41 $8,412.17 $188.01 $0.00 $47.56 $8,647.74
42 $8,647.74 $188.01 $0.00 $48.90 $8,884.65
43 $8,884.65 $188.01 $0.00 $50.24 $9,122.90
44 $9,122.90 $188.01 $0.00 $51.58 $9,362.49
45 $9,362.49 $188.01 $0.00 $52.94 $9,603.44
46 $9,603.44 $188.01 $0.00 $54.30 $9,845.75
47 $9,845.75 $188.01 $0.00 $55.67 $10,089.43
48 $10,089.43 $188.01 $0.00 $57.05 $10,334.49
49 $10,334.49 $188.01 $0.00 $58.43 $10,580.93
50 $10,580.93 $188.01 $0.00 $59.83 $10,828.77
51 $10,828.77 $188.01 $0.00 $61.23 $11,078.01
52 $11,078.01 $188.01 $0.00 $62.64 $11,328.66
53 $11,328.66 $188.01 $0.00 $64.05 $11,580.72
54 $11,580.72 $188.01 $0.00 $65.48 $11,834.21
55 $11,834.21 $188.01 $0.00 $66.91 $12,089.13
56 $12,089.13 $188.01 $0.00 $68.35 $12,345.49
57 $12,345.49 $188.01 $0.00 $69.80 $12,603.30
58 $12,603.30 $188.01 $0.00 $71.26 $12,862.57
59 $12,862.57 $188.01 $0.00 $72.73 $13,123.31
60 $13,123.31 $188.01 $0.00 $74.20 $13,385.52
61 $13,385.52 $188.01 $0.00 $75.68 $13,649.21
62 $13,649.21 $188.01 $0.00 $77.17 $13,914.39
63 $13,914.39 $188.01 $0.00 $78.67 $14,181.07
64 $14,181.07 $188.01 $0.00 $80.18 $14,449.26
65 $14,449.26 $188.01 $0.00 $81.70 $14,718.97
66 $14,718.97 $188.01 $0.00 $83.22 $14,990.20
67 $14,990.20 $188.01 $0.00 $84.76 $15,262.97
68 $15,262.97 $188.01 $0.00 $86.30 $15,537.28
69 $15,537.28 $188.01 $0.00 $87.85 $15,813.14
70 $15,813.14 $188.01 $0.00 $89.41 $16,090.56
71 $16,090.56 $188.01 $0.00 $90.98 $16,369.55
72 $16,369.55 $188.01 $0.00 $92.56 $16,650.12
73 $16,650.12 $188.01 $0.00 $94.14 $16,932.27
74 $16,932.27 $188.01 $0.00 $95.74 $17,216.02
75 $17,216.02 $188.01 $0.00 $97.34 $17,501.37
76 $17,501.37 $188.01 $0.00 $98.96 $17,788.34
77 $17,788.34 $188.01 $0.00 $100.58 $18,076.93
78 $18,076.93 $188.01 $0.00 $102.21 $18,367.15
79 $18,367.15 $188.01 $0.00 $103.85 $18,659.01
80 $18,659.01 $188.01 $0.00 $105.50 $18,952.52
81 $18,952.52 $188.01 $0.00 $107.16 $19,247.69
82 $19,247.69 $188.01 $0.00 $108.83 $19,544.53
83 $19,544.53 $188.01 $0.00 $110.51 $19,843.05
84 $19,843.05 $188.01 $0.00 $112.20 $20,143.26
85 $20,143.26 $188.01 $0.00 $113.89 $20,445.16
86 $20,445.16 $188.01 $0.00 $115.60 $20,748.77
87 $20,748.77 $188.01 $0.00 $117.32 $21,054.10
88 $21,054.10 $188.01 $0.00 $119.04 $21,361.15
89 $21,361.15 $188.01 $0.00 $120.78 $21,669.94
90 $21,669.94 $188.01 $0.00 $122.52 $21,980.47
91 $21,980.47 $188.01 $0.00 $124.28 $22,292.76
92 $22,292.76 $188.01 $0.00 $126.05 $22,606.82
93 $22,606.82 $188.01 $0.00 $127.82 $22,922.65
94 $22,922.65 $188.01 $0.00 $129.61 $23,240.27
95 $23,240.27 $188.01 $0.00 $131.40 $23,559.68
96 $23,559.68 $188.01 $0.00 $133.21 $23,880.90
97 $23,880.90 $188.01 $0.00 $135.03 $24,203.94
98 $24,203.94 $188.01 $0.00 $136.85 $24,528.80
99 $24,528.80 $188.01 $0.00 $138.69 $24,855.50
100 $24,855.50 $188.01 $0.00 $140.54 $25,184.05
101 $25,184.05 $188.01 $0.00 $142.39 $25,514.45
102 $25,514.45 $188.01 $0.00 $144.26 $25,846.72
103 $25,846.72 $188.01 $0.00 $146.14 $26,180.87
104 $26,180.87 $188.01 $0.00 $148.03 $26,516.91
105 $26,516.91 $188.01 $0.00 $149.93 $26,854.85
106 $26,854.85 $188.01 $0.00 $151.84 $27,194.70
107 $27,194.70 $188.01 $0.00 $153.76 $27,536.47
108 $27,536.47 $188.01 $0.00 $155.70 $27,880.18
109 $27,880.18 $188.01 $0.00 $157.64 $28,225.83
110 $28,225.83 $188.01 $0.00 $159.59 $28,573.43
111 $28,573.43 $188.01 $0.00 $161.56 $28,923.00
112 $28,923.00 $188.01 $0.00 $163.53 $29,274.54
113 $29,274.54 $188.01 $0.00 $165.52 $29,628.07
114 $29,628.07 $188.01 $0.00 $167.52 $29,983.60
115 $29,983.60 $188.01 $0.00 $169.53 $30,341.14
116 $30,341.14 $188.01 $0.00 $171.55 $30,700.70
117 $30,700.70 $188.01 $0.00 $173.59 $31,062.30
118 $31,062.30 $188.01 $0.00 $175.63 $31,425.94
119 $31,425.94 $188.01 $0.00 $177.69 $31,791.64
120 $31,791.64 $188.01 $0.00 $179.75 $32,159.40
121 $32,159.40 $188.01 $0.00 $181.83 $32,529.24
122 $32,529.24 $188.01 $0.00 $183.93 $32,901.18
123 $32,901.18 $188.01 $0.00 $186.03 $33,275.22
124 $33,275.22 $188.01 $0.00 $188.14 $33,651.37
125 $33,651.37 $188.01 $0.00 $190.27 $34,029.65
126 $34,029.65 $188.01 $0.00 $192.41 $34,410.07
127 $34,410.07 $188.01 $0.00 $194.56 $34,792.64
128 $34,792.64 $188.01 $0.00 $196.72 $35,177.37
129 $35,177.37 $188.01 $0.00 $198.90 $35,564.28
130 $35,564.28 $188.01 $0.00 $201.09 $35,953.38
131 $35,953.38 $188.01 $0.00 $203.29 $36,344.68
132 $36,344.68 $188.01 $0.00 $205.50 $36,738.19
133 $36,738.19 $188.01 $0.00 $207.72 $37,133.92
134 $37,133.92 $188.01 $0.00 $209.96 $37,531.89
135 $37,531.89 $188.01 $0.00 $212.21 $37,932.11
136 $37,932.11 $188.01 $0.00 $214.47 $38,334.59
137 $38,334.59 $188.01 $0.00 $216.75 $38,739.35
138 $38,739.35 $188.01 $0.00 $219.04 $39,146.40
139 $39,146.40 $188.01 $0.00 $221.34 $39,555.75
140 $39,555.75 $188.01 $0.00 $223.65 $39,967.41
141 $39,967.41 $188.01 $0.00 $225.98 $40,381.40
142 $40,381.40 $188.01 $0.00 $228.32 $40,797.73
143 $40,797.73 $188.01 $0.00 $230.68 $41,216.42
144 $41,216.42 $188.01 $0.00 $233.04 $41,637.47
145 $41,637.47 $188.01 $0.00 $235.42 $42,060.90
146 $42,060.90 $188.01 $0.00 $237.82 $42,486.73
147 $42,486.73 $188.01 $0.00 $240.23 $42,914.97
148 $42,914.97 $188.01 $0.00 $242.65 $43,345.63
149 $43,345.63 $188.01 $0.00 $245.08 $43,778.72
150 $43,778.72 $188.01 $0.00 $247.53 $44,214.26
151 $44,214.26 $188.01 $0.00 $249.99 $44,652.26
152 $44,652.26 $188.01 $0.00 $252.47 $45,092.74
153 $45,092.74 $188.01 $0.00 $254.96 $45,535.71
154 $45,535.71 $188.01 $0.00 $257.47 $45,981.19
155 $45,981.19 $188.01 $0.00 $259.98 $46,429.18
156 $46,429.18 $188.01 $0.00 $262.52 $46,879.71
157 $46,879.71 $188.01 $0.00 $265.06 $47,332.78
158 $47,332.78 $188.01 $0.00 $267.63 $47,788.42
159 $47,788.42 $188.01 $0.00 $270.20 $48,246.63
160 $48,246.63 $188.01 $0.00 $272.79 $48,707.43
161 $48,707.43 $188.01 $0.00 $275.40 $49,170.84
162 $49,170.84 $188.01 $0.00 $278.02 $49,636.87
163 $49,636.87 $188.01 $0.00 $280.65 $50,105.53
164 $50,105.53 $188.01 $0.00 $283.30 $50,576.84
165 $50,576.84 $188.01 $0.00 $285.97 $51,050.82
166 $51,050.82 $188.01 $0.00 $288.65 $51,527.48
167 $51,527.48 $188.01 $0.00 $291.34 $52,006.83
168 $52,006.83 $188.01 $0.00 $294.05 $52,488.89
169 $52,488.89 $188.01 $0.00 $296.78 $52,973.68
170 $52,973.68 $188.01 $0.00 $299.52 $53,461.21
171 $53,461.21 $188.01 $0.00 $302.28 $53,951.50
172 $53,951.50 $188.01 $0.00 $305.05 $54,444.56
173 $54,444.56 $188.01 $0.00 $307.84 $54,940.41
174 $54,940.41 $188.01 $0.00 $310.64 $55,439.06
175 $55,439.06 $188.01 $0.00 $313.46 $55,940.53
176 $55,940.53 $188.01 $0.00 $316.30 $56,444.84
177 $56,444.84 $188.01 $0.00 $319.15 $56,952.00
178 $56,952.00 $188.01 $0.00 $322.01 $57,462.02
179 $57,462.02 $188.01 $0.00 $324.90 $57,974.93
180 $57,974.93 $188.01 $0.00 $327.80 $58,490.74
181 $58,490.74 $188.01 $0.00 $330.72 $59,009.47
182 $59,009.47 $188.01 $0.00 $333.65 $59,531.13
183 $59,531.13 $188.01 $0.00 $336.60 $60,055.74
184 $60,055.74 $188.01 $0.00 $339.56 $60,583.31
185 $60,583.31 $188.01 $0.00 $342.55 $61,113.87
186 $61,113.87 $188.01 $0.00 $345.55 $61,647.43
187 $61,647.43 $188.01 $0.00 $348.56 $62,184.00
188 $62,184.00 $188.01 $0.00 $351.60 $62,723.61
189 $62,723.61 $188.01 $0.00 $354.65 $63,266.27
190 $63,266.27 $188.01 $0.00 $357.72 $63,812.00
191 $63,812.00 $188.01 $0.00 $360.80 $64,360.81
192 $64,360.81 $188.01 $0.00 $363.91 $64,912.73
193 $64,912.73 $188.01 $0.00 $367.03 $65,467.77
194 $65,467.77 $188.01 $0.00 $370.16 $66,025.94
195 $66,025.94 $188.01 $0.00 $373.32 $66,587.27
196 $66,587.27 $188.01 $0.00 $376.49 $67,151.77
197 $67,151.77 $188.01 $0.00 $379.69 $67,719.47
198 $67,719.47 $188.01 $0.00 $382.90 $68,290.38
199 $68,290.38 $188.01 $0.00 $386.12 $68,864.51
200 $68,864.51 $188.01 $0.00 $389.37 $69,441.89
201 $69,441.89 $188.01 $0.00 $392.63 $70,022.53
202 $70,022.53 $188.01 $0.00 $395.92 $70,606.46
203 $70,606.46 $188.01 $0.00 $399.22 $71,193.69
204 $71,193.69 $188.01 $0.00 $402.54 $71,784.24
205 $71,784.24 $188.01 $0.00 $405.88 $72,378.13
206 $72,378.13 $188.01 $0.00 $409.24 $72,975.38
207 $72,975.38 $188.01 $0.00 $412.61 $73,576.00
208 $73,576.00 $188.01 $0.00 $416.01 $74,180.02
209 $74,180.02 $188.01 $0.00 $419.42 $74,787.45
210 $74,787.45 $188.01 $0.00 $422.86 $75,398.32
211 $75,398.32 $188.01 $0.00 $426.31 $76,012.64
212 $76,012.64 $188.01 $0.00 $429.79 $76,630.44
213 $76,630.44 $188.01 $0.00 $433.28 $77,251.73
214 $77,251.73 $188.01 $0.00 $436.79 $77,876.53
215 $77,876.53 $188.01 $0.00 $440.33 $78,504.87
216 $78,504.87 $188.01 $0.00 $443.88 $79,136.76
217 $79,136.76 $188.01 $41,271.11 $447.45 $38,501.11
218 $38,501.11 $188.01 $0.00 $217.69 $38,906.81
219 $38,906.81 $188.01 $0.00 $219.98 $39,314.80
220 $39,314.80 $188.01 $0.00 $222.29 $39,725.10
221 $39,725.10 $188.01 $0.00 $224.61 $40,137.72
222 $40,137.72 $188.01 $0.00 $226.94 $40,552.67
223 $40,552.67 $188.01 $0.00 $229.29 $40,969.97
224 $40,969.97 $188.01 $0.00 $231.65 $41,389.63
225 $41,389.63 $188.01 $0.00 $234.02 $41,811.66
226 $41,811.66 $188.01 $0.00 $236.41 $42,236.08
227 $42,236.08 $188.01 $0.00 $238.81 $42,662.90
228 $42,662.90 $188.01 $0.00 $241.22 $43,092.13
229 $43,092.13 $0.00 $43,334.67 $243.65 $1.11