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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$31,012
Monthly savings required$138

How much will it cost to send your child to Southern State Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $62,024.83 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $137.83 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$12,572.00
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 $137.83 $0.00 $0.00 $137.83
2 $137.83 $137.83 $0.00 $0.78 $276.44
3 $276.44 $137.83 $0.00 $1.56 $415.83
4 $415.83 $137.83 $0.00 $2.35 $556.01
5 $556.01 $137.83 $0.00 $3.14 $696.98
6 $696.98 $137.83 $0.00 $3.94 $838.75
7 $838.75 $137.83 $0.00 $4.74 $981.32
8 $981.32 $137.83 $0.00 $5.55 $1,124.70
9 $1,124.70 $137.83 $0.00 $6.36 $1,268.89
10 $1,268.89 $137.83 $0.00 $7.17 $1,413.89
11 $1,413.89 $137.83 $0.00 $7.99 $1,559.71
12 $1,559.71 $137.83 $0.00 $8.82 $1,706.36
13 $1,706.36 $137.83 $0.00 $9.65 $1,853.84
14 $1,853.84 $137.83 $0.00 $10.48 $2,002.15
15 $2,002.15 $137.83 $0.00 $11.32 $2,151.30
16 $2,151.30 $137.83 $0.00 $12.16 $2,301.29
17 $2,301.29 $137.83 $0.00 $13.01 $2,452.13
18 $2,452.13 $137.83 $0.00 $13.86 $2,603.82
19 $2,603.82 $137.83 $0.00 $14.72 $2,756.37
20 $2,756.37 $137.83 $0.00 $15.58 $2,909.78
21 $2,909.78 $137.83 $0.00 $16.45 $3,064.06
22 $3,064.06 $137.83 $0.00 $17.32 $3,219.21
23 $3,219.21 $137.83 $0.00 $18.20 $3,375.24
24 $3,375.24 $137.83 $0.00 $19.08 $3,532.15
25 $3,532.15 $137.83 $0.00 $19.97 $3,689.95
26 $3,689.95 $137.83 $0.00 $20.86 $3,848.64
27 $3,848.64 $137.83 $0.00 $21.76 $4,008.23
28 $4,008.23 $137.83 $0.00 $22.66 $4,168.72
29 $4,168.72 $137.83 $0.00 $23.57 $4,330.12
30 $4,330.12 $137.83 $0.00 $24.48 $4,492.43
31 $4,492.43 $137.83 $0.00 $25.40 $4,655.66
32 $4,655.66 $137.83 $0.00 $26.32 $4,819.81
33 $4,819.81 $137.83 $0.00 $27.25 $4,984.89
34 $4,984.89 $137.83 $0.00 $28.19 $5,150.91
35 $5,150.91 $137.83 $0.00 $29.12 $5,317.86
36 $5,317.86 $137.83 $0.00 $30.07 $5,485.76
37 $5,485.76 $137.83 $0.00 $31.02 $5,654.61
38 $5,654.61 $137.83 $0.00 $31.97 $5,824.41
39 $5,824.41 $137.83 $0.00 $32.93 $5,995.17
40 $5,995.17 $137.83 $0.00 $33.90 $6,166.90
41 $6,166.90 $137.83 $0.00 $34.87 $6,339.60
42 $6,339.60 $137.83 $0.00 $35.85 $6,513.28
43 $6,513.28 $137.83 $0.00 $36.83 $6,687.94
44 $6,687.94 $137.83 $0.00 $37.81 $6,863.58
45 $6,863.58 $137.83 $0.00 $38.81 $7,040.22
46 $7,040.22 $137.83 $0.00 $39.81 $7,217.86
47 $7,217.86 $137.83 $0.00 $40.81 $7,396.50
48 $7,396.50 $137.83 $0.00 $41.82 $7,576.15
49 $7,576.15 $137.83 $0.00 $42.84 $7,756.82
50 $7,756.82 $137.83 $0.00 $43.86 $7,938.51
51 $7,938.51 $137.83 $0.00 $44.89 $8,121.23
52 $8,121.23 $137.83 $0.00 $45.92 $8,304.98
53 $8,304.98 $137.83 $0.00 $46.96 $8,489.77
54 $8,489.77 $137.83 $0.00 $48.00 $8,675.60
55 $8,675.60 $137.83 $0.00 $49.05 $8,862.48
56 $8,862.48 $137.83 $0.00 $50.11 $9,050.42
57 $9,050.42 $137.83 $0.00 $51.17 $9,239.42
58 $9,239.42 $137.83 $0.00 $52.24 $9,429.49
59 $9,429.49 $137.83 $0.00 $53.32 $9,620.64
60 $9,620.64 $137.83 $0.00 $54.40 $9,812.87
61 $9,812.87 $137.83 $0.00 $55.48 $10,006.18
62 $10,006.18 $137.83 $0.00 $56.58 $10,200.59
63 $10,200.59 $137.83 $0.00 $57.68 $10,396.10
64 $10,396.10 $137.83 $0.00 $58.78 $10,592.71
65 $10,592.71 $137.83 $0.00 $59.89 $10,790.43
66 $10,790.43 $137.83 $0.00 $61.01 $10,989.27
67 $10,989.27 $137.83 $0.00 $62.13 $11,189.23
68 $11,189.23 $137.83 $0.00 $63.27 $11,390.33
69 $11,390.33 $137.83 $0.00 $64.40 $11,592.56
70 $11,592.56 $137.83 $0.00 $65.55 $11,795.94
71 $11,795.94 $137.83 $0.00 $66.70 $12,000.47
72 $12,000.47 $137.83 $0.00 $67.85 $12,206.15
73 $12,206.15 $137.83 $0.00 $69.02 $12,413.00
74 $12,413.00 $137.83 $0.00 $70.18 $12,621.01
75 $12,621.01 $137.83 $0.00 $71.36 $12,830.20
76 $12,830.20 $137.83 $0.00 $72.54 $13,040.57
77 $13,040.57 $137.83 $0.00 $73.73 $13,252.13
78 $13,252.13 $137.83 $0.00 $74.93 $13,464.89
79 $13,464.89 $137.83 $0.00 $76.13 $13,678.85
80 $13,678.85 $137.83 $0.00 $77.34 $13,894.02
81 $13,894.02 $137.83 $0.00 $78.56 $14,110.41
82 $14,110.41 $137.83 $0.00 $79.78 $14,328.02
83 $14,328.02 $137.83 $0.00 $81.01 $14,546.86
84 $14,546.86 $137.83 $0.00 $82.25 $14,766.94
85 $14,766.94 $137.83 $0.00 $83.49 $14,988.26
86 $14,988.26 $137.83 $0.00 $84.75 $15,210.84
87 $15,210.84 $137.83 $0.00 $86.00 $15,434.67
88 $15,434.67 $137.83 $0.00 $87.27 $15,659.77
89 $15,659.77 $137.83 $0.00 $88.54 $15,886.14
90 $15,886.14 $137.83 $0.00 $89.82 $16,113.79
91 $16,113.79 $137.83 $0.00 $91.11 $16,342.73
92 $16,342.73 $137.83 $0.00 $92.40 $16,572.96
93 $16,572.96 $137.83 $0.00 $93.71 $16,804.50
94 $16,804.50 $137.83 $0.00 $95.02 $17,037.35
95 $17,037.35 $137.83 $0.00 $96.33 $17,271.51
96 $17,271.51 $137.83 $0.00 $97.66 $17,507.00
97 $17,507.00 $137.83 $0.00 $98.99 $17,743.82
98 $17,743.82 $137.83 $0.00 $100.33 $17,981.98
99 $17,981.98 $137.83 $0.00 $101.67 $18,221.48
100 $18,221.48 $137.83 $0.00 $103.03 $18,462.34
101 $18,462.34 $137.83 $0.00 $104.39 $18,704.56
102 $18,704.56 $137.83 $0.00 $105.76 $18,948.15
103 $18,948.15 $137.83 $0.00 $107.14 $19,193.12
104 $19,193.12 $137.83 $0.00 $108.52 $19,439.47
105 $19,439.47 $137.83 $0.00 $109.91 $19,687.21
106 $19,687.21 $137.83 $0.00 $111.31 $19,936.35
107 $19,936.35 $137.83 $0.00 $112.72 $20,186.90
108 $20,186.90 $137.83 $0.00 $114.14 $20,438.87
109 $20,438.87 $137.83 $0.00 $115.56 $20,692.26
110 $20,692.26 $137.83 $0.00 $117.00 $20,947.09
111 $20,947.09 $137.83 $0.00 $118.44 $21,203.36
112 $21,203.36 $137.83 $0.00 $119.89 $21,461.08
113 $21,461.08 $137.83 $0.00 $121.34 $21,720.25
114 $21,720.25 $137.83 $0.00 $122.81 $21,980.89
115 $21,980.89 $137.83 $0.00 $124.28 $22,243.00
116 $22,243.00 $137.83 $0.00 $125.77 $22,506.60
117 $22,506.60 $137.83 $0.00 $127.26 $22,771.69
118 $22,771.69 $137.83 $0.00 $128.75 $23,038.27
119 $23,038.27 $137.83 $0.00 $130.26 $23,306.36
120 $23,306.36 $137.83 $0.00 $131.78 $23,575.97
121 $23,575.97 $137.83 $0.00 $133.30 $23,847.10
122 $23,847.10 $137.83 $0.00 $134.83 $24,119.76
123 $24,119.76 $137.83 $0.00 $136.38 $24,393.97
124 $24,393.97 $137.83 $0.00 $137.93 $24,669.73
125 $24,669.73 $137.83 $0.00 $139.49 $24,947.05
126 $24,947.05 $137.83 $0.00 $141.05 $25,225.93
127 $25,225.93 $137.83 $0.00 $142.63 $25,506.39
128 $25,506.39 $137.83 $0.00 $144.22 $25,788.44
129 $25,788.44 $137.83 $0.00 $145.81 $26,072.08
130 $26,072.08 $137.83 $0.00 $147.42 $26,357.33
131 $26,357.33 $137.83 $0.00 $149.03 $26,644.19
132 $26,644.19 $137.83 $0.00 $150.65 $26,932.67
133 $26,932.67 $137.83 $0.00 $152.28 $27,222.78
134 $27,222.78 $137.83 $0.00 $153.92 $27,514.53
135 $27,514.53 $137.83 $0.00 $155.57 $27,807.93
136 $27,807.93 $137.83 $0.00 $157.23 $28,102.99
137 $28,102.99 $137.83 $0.00 $158.90 $28,399.72
138 $28,399.72 $137.83 $0.00 $160.58 $28,698.13
139 $28,698.13 $137.83 $0.00 $162.26 $28,998.22
140 $28,998.22 $137.83 $0.00 $163.96 $29,300.01
141 $29,300.01 $137.83 $0.00 $165.67 $29,603.51
142 $29,603.51 $137.83 $0.00 $167.38 $29,908.72
143 $29,908.72 $137.83 $0.00 $169.11 $30,215.66
144 $30,215.66 $137.83 $0.00 $170.84 $30,524.33
145 $30,524.33 $137.83 $0.00 $172.59 $30,834.75
146 $30,834.75 $137.83 $0.00 $174.34 $31,146.92
147 $31,146.92 $137.83 $0.00 $176.11 $31,460.86
148 $31,460.86 $137.83 $0.00 $177.88 $31,776.57
149 $31,776.57 $137.83 $0.00 $179.67 $32,094.07
150 $32,094.07 $137.83 $0.00 $181.46 $32,413.36
151 $32,413.36 $137.83 $0.00 $183.27 $32,734.46
152 $32,734.46 $137.83 $0.00 $185.09 $33,057.38
153 $33,057.38 $137.83 $0.00 $186.91 $33,382.12
154 $33,382.12 $137.83 $0.00 $188.75 $33,708.70
155 $33,708.70 $137.83 $0.00 $190.59 $34,037.12
156 $34,037.12 $137.83 $0.00 $192.45 $34,367.40
157 $34,367.40 $137.83 $0.00 $194.32 $34,699.55
158 $34,699.55 $137.83 $0.00 $196.20 $35,033.58
159 $35,033.58 $137.83 $0.00 $198.08 $35,369.49
160 $35,369.49 $137.83 $0.00 $199.98 $35,707.30
161 $35,707.30 $137.83 $0.00 $201.89 $36,047.02
162 $36,047.02 $137.83 $0.00 $203.82 $36,388.67
163 $36,388.67 $137.83 $0.00 $205.75 $36,732.25
164 $36,732.25 $137.83 $0.00 $207.69 $37,077.77
165 $37,077.77 $137.83 $0.00 $209.64 $37,425.24
166 $37,425.24 $137.83 $0.00 $211.61 $37,774.68
167 $37,774.68 $137.83 $0.00 $213.58 $38,126.09
168 $38,126.09 $137.83 $0.00 $215.57 $38,479.49
169 $38,479.49 $137.83 $0.00 $217.57 $38,834.89
170 $38,834.89 $137.83 $0.00 $219.58 $39,192.30
171 $39,192.30 $137.83 $0.00 $221.60 $39,551.73
172 $39,551.73 $137.83 $0.00 $223.63 $39,913.19
173 $39,913.19 $137.83 $0.00 $225.67 $40,276.69
174 $40,276.69 $137.83 $0.00 $227.73 $40,642.25
175 $40,642.25 $137.83 $0.00 $229.80 $41,009.88
176 $41,009.88 $137.83 $0.00 $231.88 $41,379.59
177 $41,379.59 $137.83 $0.00 $233.97 $41,751.39
178 $41,751.39 $137.83 $0.00 $236.07 $42,125.29
179 $42,125.29 $137.83 $0.00 $238.18 $42,501.30
180 $42,501.30 $137.83 $0.00 $240.31 $42,879.44
181 $42,879.44 $137.83 $0.00 $242.45 $43,259.72
182 $43,259.72 $137.83 $0.00 $244.60 $43,642.15
183 $43,642.15 $137.83 $0.00 $246.76 $44,026.74
184 $44,026.74 $137.83 $0.00 $248.93 $44,413.50
185 $44,413.50 $137.83 $0.00 $251.12 $44,802.45
186 $44,802.45 $137.83 $0.00 $253.32 $45,193.60
187 $45,193.60 $137.83 $0.00 $255.53 $45,586.96
188 $45,586.96 $137.83 $0.00 $257.76 $45,982.55
189 $45,982.55 $137.83 $0.00 $259.99 $46,380.37
190 $46,380.37 $137.83 $0.00 $262.24 $46,780.44
191 $46,780.44 $137.83 $0.00 $264.50 $47,182.77
192 $47,182.77 $137.83 $0.00 $266.78 $47,587.38
193 $47,587.38 $137.83 $0.00 $269.07 $47,994.28
194 $47,994.28 $137.83 $0.00 $271.37 $48,403.48
195 $48,403.48 $137.83 $0.00 $273.68 $48,814.99
196 $48,814.99 $137.83 $0.00 $276.01 $49,228.83
197 $49,228.83 $137.83 $0.00 $278.35 $49,645.01
198 $49,645.01 $137.83 $0.00 $280.70 $50,063.54
199 $50,063.54 $137.83 $0.00 $283.07 $50,484.44
200 $50,484.44 $137.83 $0.00 $285.45 $50,907.72
201 $50,907.72 $137.83 $0.00 $287.84 $51,333.39
202 $51,333.39 $137.83 $0.00 $290.25 $51,761.47
203 $51,761.47 $137.83 $0.00 $292.67 $52,191.97
204 $52,191.97 $137.83 $0.00 $295.10 $52,624.90
205 $52,624.90 $137.83 $0.00 $297.55 $53,060.28
206 $53,060.28 $137.83 $0.00 $300.01 $53,498.12
207 $53,498.12 $137.83 $0.00 $302.49 $53,938.44
208 $53,938.44 $137.83 $0.00 $304.98 $54,381.25
209 $54,381.25 $137.83 $0.00 $307.48 $54,826.56
210 $54,826.56 $137.83 $0.00 $310.00 $55,274.39
211 $55,274.39 $137.83 $0.00 $312.53 $55,724.75
212 $55,724.75 $137.83 $0.00 $315.08 $56,177.66
213 $56,177.66 $137.83 $0.00 $317.64 $56,633.13
214 $56,633.13 $137.83 $0.00 $320.21 $57,091.17
215 $57,091.17 $137.83 $0.00 $322.80 $57,551.80
216 $57,551.80 $137.83 $0.00 $325.41 $58,015.04
217 $58,015.04 $137.83 $30,256.02 $328.03 $28,224.88
218 $28,224.88 $137.83 $0.00 $159.59 $28,522.30
219 $28,522.30 $137.83 $0.00 $161.27 $28,821.40
220 $28,821.40 $137.83 $0.00 $162.96 $29,122.19
221 $29,122.19 $137.83 $0.00 $164.66 $29,424.68
222 $29,424.68 $137.83 $0.00 $166.37 $29,728.88
223 $29,728.88 $137.83 $0.00 $168.09 $30,034.80
224 $30,034.80 $137.83 $0.00 $169.82 $30,342.45
225 $30,342.45 $137.83 $0.00 $171.56 $30,651.84
226 $30,651.84 $137.83 $0.00 $173.31 $30,962.98
227 $30,962.98 $137.83 $0.00 $175.07 $31,275.88
228 $31,275.88 $137.83 $0.00 $176.84 $31,590.55
229 $31,590.55 $0.00 $31,768.82 $178.62 $0.35