Savings Plan and Future Cost Estimation for Erie Community College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$66,904
Monthly savings required$297

How much will it cost to send your child to Erie Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $133,807.29 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $297.24 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$19,125.00
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 $297.24 $0.00 $0.00 $297.24
2 $297.24 $297.24 $0.00 $1.68 $596.16
3 $596.16 $297.24 $0.00 $3.37 $896.77
4 $896.77 $297.24 $0.00 $5.07 $1,199.08
5 $1,199.08 $297.24 $0.00 $6.78 $1,503.10
6 $1,503.10 $297.24 $0.00 $8.50 $1,808.84
7 $1,808.84 $297.24 $0.00 $10.23 $2,116.31
8 $2,116.31 $297.24 $0.00 $11.97 $2,425.52
9 $2,425.52 $297.24 $0.00 $13.71 $2,736.47
10 $2,736.47 $297.24 $0.00 $15.47 $3,049.18
11 $3,049.18 $297.24 $0.00 $17.24 $3,363.66
12 $3,363.66 $297.24 $0.00 $19.02 $3,679.92
13 $3,679.92 $297.24 $0.00 $20.81 $3,997.97
14 $3,997.97 $297.24 $0.00 $22.61 $4,317.82
15 $4,317.82 $297.24 $0.00 $24.41 $4,639.47
16 $4,639.47 $297.24 $0.00 $26.23 $4,962.94
17 $4,962.94 $297.24 $0.00 $28.06 $5,288.24
18 $5,288.24 $297.24 $0.00 $29.90 $5,615.38
19 $5,615.38 $297.24 $0.00 $31.75 $5,944.37
20 $5,944.37 $297.24 $0.00 $33.61 $6,275.22
21 $6,275.22 $297.24 $0.00 $35.48 $6,607.94
22 $6,607.94 $297.24 $0.00 $37.36 $6,942.54
23 $6,942.54 $297.24 $0.00 $39.25 $7,279.03
24 $7,279.03 $297.24 $0.00 $41.16 $7,617.43
25 $7,617.43 $297.24 $0.00 $43.07 $7,957.74
26 $7,957.74 $297.24 $0.00 $44.99 $8,299.97
27 $8,299.97 $297.24 $0.00 $46.93 $8,644.14
28 $8,644.14 $297.24 $0.00 $48.88 $8,990.26
29 $8,990.26 $297.24 $0.00 $50.83 $9,338.33
30 $9,338.33 $297.24 $0.00 $52.80 $9,688.37
31 $9,688.37 $297.24 $0.00 $54.78 $10,040.39
32 $10,040.39 $297.24 $0.00 $56.77 $10,394.40
33 $10,394.40 $297.24 $0.00 $58.77 $10,750.41
34 $10,750.41 $297.24 $0.00 $60.78 $11,108.43
35 $11,108.43 $297.24 $0.00 $62.81 $11,468.48
36 $11,468.48 $297.24 $0.00 $64.84 $11,830.56
37 $11,830.56 $297.24 $0.00 $66.89 $12,194.69
38 $12,194.69 $297.24 $0.00 $68.95 $12,560.88
39 $12,560.88 $297.24 $0.00 $71.02 $12,929.14
40 $12,929.14 $297.24 $0.00 $73.10 $13,299.48
41 $13,299.48 $297.24 $0.00 $75.20 $13,671.92
42 $13,671.92 $297.24 $0.00 $77.30 $14,046.46
43 $14,046.46 $297.24 $0.00 $79.42 $14,423.12
44 $14,423.12 $297.24 $0.00 $81.55 $14,801.91
45 $14,801.91 $297.24 $0.00 $83.69 $15,182.84
46 $15,182.84 $297.24 $0.00 $85.85 $15,565.93
47 $15,565.93 $297.24 $0.00 $88.01 $15,951.18
48 $15,951.18 $297.24 $0.00 $90.19 $16,338.61
49 $16,338.61 $297.24 $0.00 $92.38 $16,728.23
50 $16,728.23 $297.24 $0.00 $94.58 $17,120.05
51 $17,120.05 $297.24 $0.00 $96.80 $17,514.09
52 $17,514.09 $297.24 $0.00 $99.03 $17,910.36
53 $17,910.36 $297.24 $0.00 $101.27 $18,308.87
54 $18,308.87 $297.24 $0.00 $103.52 $18,709.63
55 $18,709.63 $297.24 $0.00 $105.79 $19,112.66
56 $19,112.66 $297.24 $0.00 $108.07 $19,517.97
57 $19,517.97 $297.24 $0.00 $110.36 $19,925.57
58 $19,925.57 $297.24 $0.00 $112.66 $20,335.47
59 $20,335.47 $297.24 $0.00 $114.98 $20,747.69
60 $20,747.69 $297.24 $0.00 $117.31 $21,162.24
61 $21,162.24 $297.24 $0.00 $119.65 $21,579.13
62 $21,579.13 $297.24 $0.00 $122.01 $21,998.38
63 $21,998.38 $297.24 $0.00 $124.38 $22,420.00
64 $22,420.00 $297.24 $0.00 $126.77 $22,844.01
65 $22,844.01 $297.24 $0.00 $129.16 $23,270.41
66 $23,270.41 $297.24 $0.00 $131.57 $23,699.22
67 $23,699.22 $297.24 $0.00 $134.00 $24,130.46
68 $24,130.46 $297.24 $0.00 $136.44 $24,564.14
69 $24,564.14 $297.24 $0.00 $138.89 $25,000.27
70 $25,000.27 $297.24 $0.00 $141.36 $25,438.87
71 $25,438.87 $297.24 $0.00 $143.84 $25,879.95
72 $25,879.95 $297.24 $0.00 $146.33 $26,323.52
73 $26,323.52 $297.24 $0.00 $148.84 $26,769.60
74 $26,769.60 $297.24 $0.00 $151.36 $27,218.20
75 $27,218.20 $297.24 $0.00 $153.90 $27,669.34
76 $27,669.34 $297.24 $0.00 $156.45 $28,123.03
77 $28,123.03 $297.24 $0.00 $159.01 $28,579.28
78 $28,579.28 $297.24 $0.00 $161.59 $29,038.11
79 $29,038.11 $297.24 $0.00 $164.19 $29,499.54
80 $29,499.54 $297.24 $0.00 $166.79 $29,963.57
81 $29,963.57 $297.24 $0.00 $169.42 $30,430.23
82 $30,430.23 $297.24 $0.00 $172.06 $30,899.53
83 $30,899.53 $297.24 $0.00 $174.71 $31,371.48
84 $31,371.48 $297.24 $0.00 $177.38 $31,846.10
85 $31,846.10 $297.24 $0.00 $180.06 $32,323.40
86 $32,323.40 $297.24 $0.00 $182.76 $32,803.40
87 $32,803.40 $297.24 $0.00 $185.48 $33,286.12
88 $33,286.12 $297.24 $0.00 $188.20 $33,771.56
89 $33,771.56 $297.24 $0.00 $190.95 $34,259.75
90 $34,259.75 $297.24 $0.00 $193.71 $34,750.70
91 $34,750.70 $297.24 $0.00 $196.49 $35,244.43
92 $35,244.43 $297.24 $0.00 $199.28 $35,740.95
93 $35,740.95 $297.24 $0.00 $202.08 $36,240.27
94 $36,240.27 $297.24 $0.00 $204.91 $36,742.42
95 $36,742.42 $297.24 $0.00 $207.75 $37,247.41
96 $37,247.41 $297.24 $0.00 $210.60 $37,755.25
97 $37,755.25 $297.24 $0.00 $213.47 $38,265.96
98 $38,265.96 $297.24 $0.00 $216.36 $38,779.56
99 $38,779.56 $297.24 $0.00 $219.27 $39,296.07
100 $39,296.07 $297.24 $0.00 $222.19 $39,815.50
101 $39,815.50 $297.24 $0.00 $225.12 $40,337.86
102 $40,337.86 $297.24 $0.00 $228.08 $40,863.18
103 $40,863.18 $297.24 $0.00 $231.05 $41,391.47
104 $41,391.47 $297.24 $0.00 $234.03 $41,922.74
105 $41,922.74 $297.24 $0.00 $237.04 $42,457.02
106 $42,457.02 $297.24 $0.00 $240.06 $42,994.32
107 $42,994.32 $297.24 $0.00 $243.10 $43,534.66
108 $43,534.66 $297.24 $0.00 $246.15 $44,078.05
109 $44,078.05 $297.24 $0.00 $249.22 $44,624.51
110 $44,624.51 $297.24 $0.00 $252.31 $45,174.06
111 $45,174.06 $297.24 $0.00 $255.42 $45,726.72
112 $45,726.72 $297.24 $0.00 $258.55 $46,282.51
113 $46,282.51 $297.24 $0.00 $261.69 $46,841.44
114 $46,841.44 $297.24 $0.00 $264.85 $47,403.53
115 $47,403.53 $297.24 $0.00 $268.03 $47,968.80
116 $47,968.80 $297.24 $0.00 $271.22 $48,537.26
117 $48,537.26 $297.24 $0.00 $274.44 $49,108.94
118 $49,108.94 $297.24 $0.00 $277.67 $49,683.85
119 $49,683.85 $297.24 $0.00 $280.92 $50,262.01
120 $50,262.01 $297.24 $0.00 $284.19 $50,843.44
121 $50,843.44 $297.24 $0.00 $287.48 $51,428.16
122 $51,428.16 $297.24 $0.00 $290.78 $52,016.18
123 $52,016.18 $297.24 $0.00 $294.11 $52,607.53
124 $52,607.53 $297.24 $0.00 $297.45 $53,202.22
125 $53,202.22 $297.24 $0.00 $300.81 $53,800.27
126 $53,800.27 $297.24 $0.00 $304.19 $54,401.70
127 $54,401.70 $297.24 $0.00 $307.60 $55,006.54
128 $55,006.54 $297.24 $0.00 $311.01 $55,614.79
129 $55,614.79 $297.24 $0.00 $314.45 $56,226.48
130 $56,226.48 $297.24 $0.00 $317.91 $56,841.63
131 $56,841.63 $297.24 $0.00 $321.39 $57,460.26
132 $57,460.26 $297.24 $0.00 $324.89 $58,082.39
133 $58,082.39 $297.24 $0.00 $328.41 $58,708.04
134 $58,708.04 $297.24 $0.00 $331.94 $59,337.22
135 $59,337.22 $297.24 $0.00 $335.50 $59,969.96
136 $59,969.96 $297.24 $0.00 $339.08 $60,606.28
137 $60,606.28 $297.24 $0.00 $342.68 $61,246.20
138 $61,246.20 $297.24 $0.00 $346.29 $61,889.73
139 $61,889.73 $297.24 $0.00 $349.93 $62,536.90
140 $62,536.90 $297.24 $0.00 $353.59 $63,187.73
141 $63,187.73 $297.24 $0.00 $357.27 $63,842.24
142 $63,842.24 $297.24 $0.00 $360.97 $64,500.45
143 $64,500.45 $297.24 $0.00 $364.69 $65,162.38
144 $65,162.38 $297.24 $0.00 $368.44 $65,828.06
145 $65,828.06 $297.24 $0.00 $372.20 $66,497.50
146 $66,497.50 $297.24 $0.00 $375.99 $67,170.73
147 $67,170.73 $297.24 $0.00 $379.79 $67,847.76
148 $67,847.76 $297.24 $0.00 $383.62 $68,528.62
149 $68,528.62 $297.24 $0.00 $387.47 $69,213.33
150 $69,213.33 $297.24 $0.00 $391.34 $69,901.91
151 $69,901.91 $297.24 $0.00 $395.24 $70,594.39
152 $70,594.39 $297.24 $0.00 $399.15 $71,290.78
153 $71,290.78 $297.24 $0.00 $403.09 $71,991.11
154 $71,991.11 $297.24 $0.00 $407.05 $72,695.40
155 $72,695.40 $297.24 $0.00 $411.03 $73,403.67
156 $73,403.67 $297.24 $0.00 $415.04 $74,115.95
157 $74,115.95 $297.24 $0.00 $419.06 $74,832.25
158 $74,832.25 $297.24 $0.00 $423.11 $75,552.60
159 $75,552.60 $297.24 $0.00 $427.19 $76,277.03
160 $76,277.03 $297.24 $0.00 $431.28 $77,005.55
161 $77,005.55 $297.24 $0.00 $435.40 $77,738.19
162 $77,738.19 $297.24 $0.00 $439.54 $78,474.97
163 $78,474.97 $297.24 $0.00 $443.71 $79,215.92
164 $79,215.92 $297.24 $0.00 $447.90 $79,961.06
165 $79,961.06 $297.24 $0.00 $452.11 $80,710.41
166 $80,710.41 $297.24 $0.00 $456.35 $81,464.00
167 $81,464.00 $297.24 $0.00 $460.61 $82,221.85
168 $82,221.85 $297.24 $0.00 $464.89 $82,983.98
169 $82,983.98 $297.24 $0.00 $469.20 $83,750.42
170 $83,750.42 $297.24 $0.00 $473.54 $84,521.20
171 $84,521.20 $297.24 $0.00 $477.90 $85,296.34
172 $85,296.34 $297.24 $0.00 $482.28 $86,075.86
173 $86,075.86 $297.24 $0.00 $486.69 $86,859.79
174 $86,859.79 $297.24 $0.00 $491.12 $87,648.15
175 $87,648.15 $297.24 $0.00 $495.58 $88,440.97
176 $88,440.97 $297.24 $0.00 $500.06 $89,238.27
177 $89,238.27 $297.24 $0.00 $504.57 $90,040.08
178 $90,040.08 $297.24 $0.00 $509.10 $90,846.42
179 $90,846.42 $297.24 $0.00 $513.66 $91,657.32
180 $91,657.32 $297.24 $0.00 $518.24 $92,472.80
181 $92,472.80 $297.24 $0.00 $522.85 $93,292.89
182 $93,292.89 $297.24 $0.00 $527.49 $94,117.62
183 $94,117.62 $297.24 $0.00 $532.15 $94,947.01
184 $94,947.01 $297.24 $0.00 $536.84 $95,781.09
185 $95,781.09 $297.24 $0.00 $541.56 $96,619.89
186 $96,619.89 $297.24 $0.00 $546.30 $97,463.43
187 $97,463.43 $297.24 $0.00 $551.07 $98,311.74
188 $98,311.74 $297.24 $0.00 $555.87 $99,164.85
189 $99,164.85 $297.24 $0.00 $560.69 $100,022.78
190 $100,022.78 $297.24 $0.00 $565.54 $100,885.56
191 $100,885.56 $297.24 $0.00 $570.42 $101,753.22
192 $101,753.22 $297.24 $0.00 $575.33 $102,625.79
193 $102,625.79 $297.24 $0.00 $580.26 $103,503.29
194 $103,503.29 $297.24 $0.00 $585.22 $104,385.75
195 $104,385.75 $297.24 $0.00 $590.21 $105,273.20
196 $105,273.20 $297.24 $0.00 $595.23 $106,165.67
197 $106,165.67 $297.24 $0.00 $600.28 $107,063.19
198 $107,063.19 $297.24 $0.00 $605.35 $107,965.78
199 $107,965.78 $297.24 $0.00 $610.45 $108,873.47
200 $108,873.47 $297.24 $0.00 $615.59 $109,786.30
201 $109,786.30 $297.24 $0.00 $620.75 $110,704.29
202 $110,704.29 $297.24 $0.00 $625.94 $111,627.47
203 $111,627.47 $297.24 $0.00 $631.16 $112,555.87
204 $112,555.87 $297.24 $0.00 $636.41 $113,489.52
205 $113,489.52 $297.24 $0.00 $641.69 $114,428.45
206 $114,428.45 $297.24 $0.00 $647.00 $115,372.69
207 $115,372.69 $297.24 $0.00 $652.33 $116,322.26
208 $116,322.26 $297.24 $0.00 $657.70 $117,277.20
209 $117,277.20 $297.24 $0.00 $663.10 $118,237.54
210 $118,237.54 $297.24 $0.00 $668.53 $119,203.31
211 $119,203.31 $297.24 $0.00 $673.99 $120,174.54
212 $120,174.54 $297.24 $0.00 $679.48 $121,151.26
213 $121,151.26 $297.24 $0.00 $685.01 $122,133.51
214 $122,133.51 $297.24 $0.00 $690.56 $123,121.31
215 $123,121.31 $297.24 $0.00 $696.15 $124,114.70
216 $124,114.70 $297.24 $0.00 $701.76 $125,113.70
217 $125,113.70 $297.24 $64,641.20 $707.41 $61,477.15
218 $61,477.15 $297.24 $0.00 $347.60 $62,121.99
219 $62,121.99 $297.24 $0.00 $351.25 $62,770.48
220 $62,770.48 $297.24 $0.00 $354.91 $63,422.63
221 $63,422.63 $297.24 $0.00 $358.60 $64,078.47
222 $64,078.47 $297.24 $0.00 $362.31 $64,738.02
223 $64,738.02 $297.24 $0.00 $366.04 $65,401.30
224 $65,401.30 $297.24 $0.00 $369.79 $66,068.33
225 $66,068.33 $297.24 $0.00 $373.56 $66,739.13
226 $66,739.13 $297.24 $0.00 $377.35 $67,413.72
227 $67,413.72 $297.24 $0.00 $381.17 $68,092.13
228 $68,092.13 $297.24 $0.00 $385.00 $68,774.37
229 $68,774.37 $0.00 $69,166.09 $388.86 -$2.86