Savings Plan and Future Cost Estimation for Southern State 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$66,284
Monthly savings required$294

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 $132,568.92 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $294.50 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$18,948.00
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 $294.50 $0.00 $0.00 $294.50
2 $294.50 $294.50 $0.00 $1.67 $590.67
3 $590.67 $294.50 $0.00 $3.34 $888.51
4 $888.51 $294.50 $0.00 $5.02 $1,188.03
5 $1,188.03 $294.50 $0.00 $6.72 $1,489.25
6 $1,489.25 $294.50 $0.00 $8.42 $1,792.17
7 $1,792.17 $294.50 $0.00 $10.13 $2,096.80
8 $2,096.80 $294.50 $0.00 $11.86 $2,403.16
9 $2,403.16 $294.50 $0.00 $13.59 $2,711.25
10 $2,711.25 $294.50 $0.00 $15.33 $3,021.08
11 $3,021.08 $294.50 $0.00 $17.08 $3,332.66
12 $3,332.66 $294.50 $0.00 $18.84 $3,646.00
13 $3,646.00 $294.50 $0.00 $20.62 $3,961.12
14 $3,961.12 $294.50 $0.00 $22.40 $4,278.02
15 $4,278.02 $294.50 $0.00 $24.19 $4,596.71
16 $4,596.71 $294.50 $0.00 $25.99 $4,917.20
17 $4,917.20 $294.50 $0.00 $27.80 $5,239.50
18 $5,239.50 $294.50 $0.00 $29.62 $5,563.62
19 $5,563.62 $294.50 $0.00 $31.46 $5,889.58
20 $5,889.58 $294.50 $0.00 $33.30 $6,217.38
21 $6,217.38 $294.50 $0.00 $35.15 $6,547.03
22 $6,547.03 $294.50 $0.00 $37.02 $6,878.55
23 $6,878.55 $294.50 $0.00 $38.89 $7,211.94
24 $7,211.94 $294.50 $0.00 $40.78 $7,547.22
25 $7,547.22 $294.50 $0.00 $42.67 $7,884.39
26 $7,884.39 $294.50 $0.00 $44.58 $8,223.47
27 $8,223.47 $294.50 $0.00 $46.50 $8,564.47
28 $8,564.47 $294.50 $0.00 $48.42 $8,907.39
29 $8,907.39 $294.50 $0.00 $50.36 $9,252.25
30 $9,252.25 $294.50 $0.00 $52.31 $9,599.06
31 $9,599.06 $294.50 $0.00 $54.27 $9,947.83
32 $9,947.83 $294.50 $0.00 $56.25 $10,298.58
33 $10,298.58 $294.50 $0.00 $58.23 $10,651.31
34 $10,651.31 $294.50 $0.00 $60.22 $11,006.03
35 $11,006.03 $294.50 $0.00 $62.23 $11,362.76
36 $11,362.76 $294.50 $0.00 $64.25 $11,721.51
37 $11,721.51 $294.50 $0.00 $66.28 $12,082.29
38 $12,082.29 $294.50 $0.00 $68.32 $12,445.11
39 $12,445.11 $294.50 $0.00 $70.37 $12,809.98
40 $12,809.98 $294.50 $0.00 $72.43 $13,176.91
41 $13,176.91 $294.50 $0.00 $74.50 $13,545.91
42 $13,545.91 $294.50 $0.00 $76.59 $13,917.00
43 $13,917.00 $294.50 $0.00 $78.69 $14,290.19
44 $14,290.19 $294.50 $0.00 $80.80 $14,665.49
45 $14,665.49 $294.50 $0.00 $82.92 $15,042.91
46 $15,042.91 $294.50 $0.00 $85.05 $15,422.46
47 $15,422.46 $294.50 $0.00 $87.20 $15,804.16
48 $15,804.16 $294.50 $0.00 $89.36 $16,188.02
49 $16,188.02 $294.50 $0.00 $91.53 $16,574.05
50 $16,574.05 $294.50 $0.00 $93.71 $16,962.26
51 $16,962.26 $294.50 $0.00 $95.91 $17,352.67
52 $17,352.67 $294.50 $0.00 $98.11 $17,745.28
53 $17,745.28 $294.50 $0.00 $100.33 $18,140.11
54 $18,140.11 $294.50 $0.00 $102.57 $18,537.18
55 $18,537.18 $294.50 $0.00 $104.81 $18,936.49
56 $18,936.49 $294.50 $0.00 $107.07 $19,338.06
57 $19,338.06 $294.50 $0.00 $109.34 $19,741.90
58 $19,741.90 $294.50 $0.00 $111.62 $20,148.02
59 $20,148.02 $294.50 $0.00 $113.92 $20,556.44
60 $20,556.44 $294.50 $0.00 $116.23 $20,967.17
61 $20,967.17 $294.50 $0.00 $118.55 $21,380.22
62 $21,380.22 $294.50 $0.00 $120.89 $21,795.61
63 $21,795.61 $294.50 $0.00 $123.24 $22,213.35
64 $22,213.35 $294.50 $0.00 $125.60 $22,633.45
65 $22,633.45 $294.50 $0.00 $127.97 $23,055.92
66 $23,055.92 $294.50 $0.00 $130.36 $23,480.78
67 $23,480.78 $294.50 $0.00 $132.76 $23,908.04
68 $23,908.04 $294.50 $0.00 $135.18 $24,337.72
69 $24,337.72 $294.50 $0.00 $137.61 $24,769.83
70 $24,769.83 $294.50 $0.00 $140.05 $25,204.38
71 $25,204.38 $294.50 $0.00 $142.51 $25,641.39
72 $25,641.39 $294.50 $0.00 $144.98 $26,080.87
73 $26,080.87 $294.50 $0.00 $147.47 $26,522.84
74 $26,522.84 $294.50 $0.00 $149.96 $26,967.30
75 $26,967.30 $294.50 $0.00 $152.48 $27,414.28
76 $27,414.28 $294.50 $0.00 $155.00 $27,863.78
77 $27,863.78 $294.50 $0.00 $157.55 $28,315.83
78 $28,315.83 $294.50 $0.00 $160.10 $28,770.43
79 $28,770.43 $294.50 $0.00 $162.67 $29,227.60
80 $29,227.60 $294.50 $0.00 $165.26 $29,687.36
81 $29,687.36 $294.50 $0.00 $167.86 $30,149.72
82 $30,149.72 $294.50 $0.00 $170.47 $30,614.69
83 $30,614.69 $294.50 $0.00 $173.10 $31,082.29
84 $31,082.29 $294.50 $0.00 $175.74 $31,552.53
85 $31,552.53 $294.50 $0.00 $178.40 $32,025.43
86 $32,025.43 $294.50 $0.00 $181.08 $32,501.01
87 $32,501.01 $294.50 $0.00 $183.77 $32,979.28
88 $32,979.28 $294.50 $0.00 $186.47 $33,460.25
89 $33,460.25 $294.50 $0.00 $189.19 $33,943.94
90 $33,943.94 $294.50 $0.00 $191.92 $34,430.36
91 $34,430.36 $294.50 $0.00 $194.67 $34,919.53
92 $34,919.53 $294.50 $0.00 $197.44 $35,411.47
93 $35,411.47 $294.50 $0.00 $200.22 $35,906.19
94 $35,906.19 $294.50 $0.00 $203.02 $36,403.71
95 $36,403.71 $294.50 $0.00 $205.83 $36,904.04
96 $36,904.04 $294.50 $0.00 $208.66 $37,407.20
97 $37,407.20 $294.50 $0.00 $211.51 $37,913.21
98 $37,913.21 $294.50 $0.00 $214.37 $38,422.08
99 $38,422.08 $294.50 $0.00 $217.24 $38,933.82
100 $38,933.82 $294.50 $0.00 $220.14 $39,448.46
101 $39,448.46 $294.50 $0.00 $223.05 $39,966.01
102 $39,966.01 $294.50 $0.00 $225.97 $40,486.48
103 $40,486.48 $294.50 $0.00 $228.92 $41,009.90
104 $41,009.90 $294.50 $0.00 $231.88 $41,536.28
105 $41,536.28 $294.50 $0.00 $234.85 $42,065.63
106 $42,065.63 $294.50 $0.00 $237.85 $42,597.98
107 $42,597.98 $294.50 $0.00 $240.86 $43,133.34
108 $43,133.34 $294.50 $0.00 $243.88 $43,671.72
109 $43,671.72 $294.50 $0.00 $246.93 $44,213.15
110 $44,213.15 $294.50 $0.00 $249.99 $44,757.64
111 $44,757.64 $294.50 $0.00 $253.07 $45,305.21
112 $45,305.21 $294.50 $0.00 $256.16 $45,855.87
113 $45,855.87 $294.50 $0.00 $259.28 $46,409.65
114 $46,409.65 $294.50 $0.00 $262.41 $46,966.56
115 $46,966.56 $294.50 $0.00 $265.56 $47,526.62
116 $47,526.62 $294.50 $0.00 $268.72 $48,089.84
117 $48,089.84 $294.50 $0.00 $271.91 $48,656.25
118 $48,656.25 $294.50 $0.00 $275.11 $49,225.86
119 $49,225.86 $294.50 $0.00 $278.33 $49,798.69
120 $49,798.69 $294.50 $0.00 $281.57 $50,374.76
121 $50,374.76 $294.50 $0.00 $284.83 $50,954.09
122 $50,954.09 $294.50 $0.00 $288.10 $51,536.69
123 $51,536.69 $294.50 $0.00 $291.40 $52,122.59
124 $52,122.59 $294.50 $0.00 $294.71 $52,711.80
125 $52,711.80 $294.50 $0.00 $298.04 $53,304.34
126 $53,304.34 $294.50 $0.00 $301.39 $53,900.23
127 $53,900.23 $294.50 $0.00 $304.76 $54,499.49
128 $54,499.49 $294.50 $0.00 $308.15 $55,102.14
129 $55,102.14 $294.50 $0.00 $311.56 $55,708.20
130 $55,708.20 $294.50 $0.00 $314.98 $56,317.68
131 $56,317.68 $294.50 $0.00 $318.43 $56,930.61
132 $56,930.61 $294.50 $0.00 $321.89 $57,547.00
133 $57,547.00 $294.50 $0.00 $325.38 $58,166.88
134 $58,166.88 $294.50 $0.00 $328.88 $58,790.26
135 $58,790.26 $294.50 $0.00 $332.41 $59,417.17
136 $59,417.17 $294.50 $0.00 $335.95 $60,047.62
137 $60,047.62 $294.50 $0.00 $339.52 $60,681.64
138 $60,681.64 $294.50 $0.00 $343.10 $61,319.24
139 $61,319.24 $294.50 $0.00 $346.71 $61,960.45
140 $61,960.45 $294.50 $0.00 $350.33 $62,605.28
141 $62,605.28 $294.50 $0.00 $353.98 $63,253.76
142 $63,253.76 $294.50 $0.00 $357.65 $63,905.91
143 $63,905.91 $294.50 $0.00 $361.33 $64,561.74
144 $64,561.74 $294.50 $0.00 $365.04 $65,221.28
145 $65,221.28 $294.50 $0.00 $368.77 $65,884.55
146 $65,884.55 $294.50 $0.00 $372.52 $66,551.57
147 $66,551.57 $294.50 $0.00 $376.29 $67,222.36
148 $67,222.36 $294.50 $0.00 $380.08 $67,896.94
149 $67,896.94 $294.50 $0.00 $383.90 $68,575.34
150 $68,575.34 $294.50 $0.00 $387.73 $69,257.57
151 $69,257.57 $294.50 $0.00 $391.59 $69,943.66
152 $69,943.66 $294.50 $0.00 $395.47 $70,633.63
153 $70,633.63 $294.50 $0.00 $399.37 $71,327.50
154 $71,327.50 $294.50 $0.00 $403.30 $72,025.30
155 $72,025.30 $294.50 $0.00 $407.24 $72,727.04
156 $72,727.04 $294.50 $0.00 $411.21 $73,432.75
157 $73,432.75 $294.50 $0.00 $415.20 $74,142.45
158 $74,142.45 $294.50 $0.00 $419.21 $74,856.16
159 $74,856.16 $294.50 $0.00 $423.25 $75,573.91
160 $75,573.91 $294.50 $0.00 $427.31 $76,295.72
161 $76,295.72 $294.50 $0.00 $431.39 $77,021.61
162 $77,021.61 $294.50 $0.00 $435.49 $77,751.60
163 $77,751.60 $294.50 $0.00 $439.62 $78,485.72
164 $78,485.72 $294.50 $0.00 $443.77 $79,223.99
165 $79,223.99 $294.50 $0.00 $447.94 $79,966.43
166 $79,966.43 $294.50 $0.00 $452.14 $80,713.07
167 $80,713.07 $294.50 $0.00 $456.36 $81,463.93
168 $81,463.93 $294.50 $0.00 $460.61 $82,219.04
169 $82,219.04 $294.50 $0.00 $464.88 $82,978.42
170 $82,978.42 $294.50 $0.00 $469.17 $83,742.09
171 $83,742.09 $294.50 $0.00 $473.49 $84,510.08
172 $84,510.08 $294.50 $0.00 $477.83 $85,282.41
173 $85,282.41 $294.50 $0.00 $482.20 $86,059.11
174 $86,059.11 $294.50 $0.00 $486.59 $86,840.20
175 $86,840.20 $294.50 $0.00 $491.01 $87,625.71
176 $87,625.71 $294.50 $0.00 $495.45 $88,415.66
177 $88,415.66 $294.50 $0.00 $499.91 $89,210.07
178 $89,210.07 $294.50 $0.00 $504.41 $90,008.98
179 $90,008.98 $294.50 $0.00 $508.92 $90,812.40
180 $90,812.40 $294.50 $0.00 $513.47 $91,620.37
181 $91,620.37 $294.50 $0.00 $518.03 $92,432.90
182 $92,432.90 $294.50 $0.00 $522.63 $93,250.03
183 $93,250.03 $294.50 $0.00 $527.25 $94,071.78
184 $94,071.78 $294.50 $0.00 $531.90 $94,898.18
185 $94,898.18 $294.50 $0.00 $536.57 $95,729.25
186 $95,729.25 $294.50 $0.00 $541.27 $96,565.02
187 $96,565.02 $294.50 $0.00 $545.99 $97,405.51
188 $97,405.51 $294.50 $0.00 $550.74 $98,250.75
189 $98,250.75 $294.50 $0.00 $555.52 $99,100.77
190 $99,100.77 $294.50 $0.00 $560.33 $99,955.60
191 $99,955.60 $294.50 $0.00 $565.16 $100,815.26
192 $100,815.26 $294.50 $0.00 $570.02 $101,679.78
193 $101,679.78 $294.50 $0.00 $574.91 $102,549.19
194 $102,549.19 $294.50 $0.00 $579.83 $103,423.52
195 $103,423.52 $294.50 $0.00 $584.77 $104,302.79
196 $104,302.79 $294.50 $0.00 $589.74 $105,187.03
197 $105,187.03 $294.50 $0.00 $594.74 $106,076.27
198 $106,076.27 $294.50 $0.00 $599.77 $106,970.54
199 $106,970.54 $294.50 $0.00 $604.83 $107,869.87
200 $107,869.87 $294.50 $0.00 $609.91 $108,774.28
201 $108,774.28 $294.50 $0.00 $615.03 $109,683.81
202 $109,683.81 $294.50 $0.00 $620.17 $110,598.48
203 $110,598.48 $294.50 $0.00 $625.34 $111,518.32
204 $111,518.32 $294.50 $0.00 $630.54 $112,443.36
205 $112,443.36 $294.50 $0.00 $635.77 $113,373.63
206 $113,373.63 $294.50 $0.00 $641.03 $114,309.16
207 $114,309.16 $294.50 $0.00 $646.32 $115,249.98
208 $115,249.98 $294.50 $0.00 $651.64 $116,196.12
209 $116,196.12 $294.50 $0.00 $656.99 $117,147.61
210 $117,147.61 $294.50 $0.00 $662.37 $118,104.48
211 $118,104.48 $294.50 $0.00 $667.78 $119,066.76
212 $119,066.76 $294.50 $0.00 $673.22 $120,034.48
213 $120,034.48 $294.50 $0.00 $678.69 $121,007.67
214 $121,007.67 $294.50 $0.00 $684.19 $121,986.36
215 $121,986.36 $294.50 $0.00 $689.73 $122,970.59
216 $122,970.59 $294.50 $0.00 $695.29 $123,960.38
217 $123,960.38 $294.50 $64,042.96 $700.89 $60,912.81
218 $60,912.81 $294.50 $0.00 $344.41 $61,551.72
219 $61,551.72 $294.50 $0.00 $348.02 $62,194.24
220 $62,194.24 $294.50 $0.00 $351.66 $62,840.40
221 $62,840.40 $294.50 $0.00 $355.31 $63,490.21
222 $63,490.21 $294.50 $0.00 $358.98 $64,143.69
223 $64,143.69 $294.50 $0.00 $362.68 $64,800.87
224 $64,800.87 $294.50 $0.00 $366.39 $65,461.76
225 $65,461.76 $294.50 $0.00 $370.13 $66,126.39
226 $66,126.39 $294.50 $0.00 $373.89 $66,794.78
227 $66,794.78 $294.50 $0.00 $377.67 $67,466.95
228 $67,466.95 $294.50 $0.00 $381.47 $68,142.92
229 $68,142.92 $0.00 $68,525.96 $385.29 $2.25