Savings Plan and Future Cost Estimation for Reid State Technical College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$43,990
Monthly savings required$195

How much will it cost to send your child to Reid State Technical College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $87,980.48 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $195.44 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$12,575.00
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 $195.44 $0.00 $0.00 $195.44
2 $195.44 $195.44 $0.00 $1.11 $391.99
3 $391.99 $195.44 $0.00 $2.22 $589.65
4 $589.65 $195.44 $0.00 $3.33 $788.42
5 $788.42 $195.44 $0.00 $4.46 $988.32
6 $988.32 $195.44 $0.00 $5.59 $1,189.35
7 $1,189.35 $195.44 $0.00 $6.72 $1,391.51
8 $1,391.51 $195.44 $0.00 $7.87 $1,594.82
9 $1,594.82 $195.44 $0.00 $9.02 $1,799.28
10 $1,799.28 $195.44 $0.00 $10.17 $2,004.89
11 $2,004.89 $195.44 $0.00 $11.34 $2,211.67
12 $2,211.67 $195.44 $0.00 $12.51 $2,419.62
13 $2,419.62 $195.44 $0.00 $13.68 $2,628.74
14 $2,628.74 $195.44 $0.00 $14.86 $2,839.04
15 $2,839.04 $195.44 $0.00 $16.05 $3,050.53
16 $3,050.53 $195.44 $0.00 $17.25 $3,263.22
17 $3,263.22 $195.44 $0.00 $18.45 $3,477.11
18 $3,477.11 $195.44 $0.00 $19.66 $3,692.21
19 $3,692.21 $195.44 $0.00 $20.88 $3,908.53
20 $3,908.53 $195.44 $0.00 $22.10 $4,126.07
21 $4,126.07 $195.44 $0.00 $23.33 $4,344.84
22 $4,344.84 $195.44 $0.00 $24.57 $4,564.85
23 $4,564.85 $195.44 $0.00 $25.81 $4,786.10
24 $4,786.10 $195.44 $0.00 $27.06 $5,008.60
25 $5,008.60 $195.44 $0.00 $28.32 $5,232.36
26 $5,232.36 $195.44 $0.00 $29.58 $5,457.38
27 $5,457.38 $195.44 $0.00 $30.86 $5,683.68
28 $5,683.68 $195.44 $0.00 $32.14 $5,911.26
29 $5,911.26 $195.44 $0.00 $33.42 $6,140.12
30 $6,140.12 $195.44 $0.00 $34.72 $6,370.28
31 $6,370.28 $195.44 $0.00 $36.02 $6,601.74
32 $6,601.74 $195.44 $0.00 $37.33 $6,834.51
33 $6,834.51 $195.44 $0.00 $38.64 $7,068.59
34 $7,068.59 $195.44 $0.00 $39.97 $7,304.00
35 $7,304.00 $195.44 $0.00 $41.30 $7,540.74
36 $7,540.74 $195.44 $0.00 $42.64 $7,778.82
37 $7,778.82 $195.44 $0.00 $43.98 $8,018.24
38 $8,018.24 $195.44 $0.00 $45.34 $8,259.02
39 $8,259.02 $195.44 $0.00 $46.70 $8,501.16
40 $8,501.16 $195.44 $0.00 $48.07 $8,744.67
41 $8,744.67 $195.44 $0.00 $49.44 $8,989.55
42 $8,989.55 $195.44 $0.00 $50.83 $9,235.82
43 $9,235.82 $195.44 $0.00 $52.22 $9,483.48
44 $9,483.48 $195.44 $0.00 $53.62 $9,732.54
45 $9,732.54 $195.44 $0.00 $55.03 $9,983.01
46 $9,983.01 $195.44 $0.00 $56.45 $10,234.90
47 $10,234.90 $195.44 $0.00 $57.87 $10,488.21
48 $10,488.21 $195.44 $0.00 $59.30 $10,742.95
49 $10,742.95 $195.44 $0.00 $60.74 $10,999.13
50 $10,999.13 $195.44 $0.00 $62.19 $11,256.76
51 $11,256.76 $195.44 $0.00 $63.65 $11,515.85
52 $11,515.85 $195.44 $0.00 $65.11 $11,776.40
53 $11,776.40 $195.44 $0.00 $66.59 $12,038.43
54 $12,038.43 $195.44 $0.00 $68.07 $12,301.94
55 $12,301.94 $195.44 $0.00 $69.56 $12,566.94
56 $12,566.94 $195.44 $0.00 $71.06 $12,833.44
57 $12,833.44 $195.44 $0.00 $72.56 $13,101.44
58 $13,101.44 $195.44 $0.00 $74.08 $13,370.96
59 $13,370.96 $195.44 $0.00 $75.60 $13,642.00
60 $13,642.00 $195.44 $0.00 $77.13 $13,914.57
61 $13,914.57 $195.44 $0.00 $78.68 $14,188.69
62 $14,188.69 $195.44 $0.00 $80.22 $14,464.35
63 $14,464.35 $195.44 $0.00 $81.78 $14,741.57
64 $14,741.57 $195.44 $0.00 $83.35 $15,020.36
65 $15,020.36 $195.44 $0.00 $84.93 $15,300.73
66 $15,300.73 $195.44 $0.00 $86.51 $15,582.68
67 $15,582.68 $195.44 $0.00 $88.11 $15,866.23
68 $15,866.23 $195.44 $0.00 $89.71 $16,151.38
69 $16,151.38 $195.44 $0.00 $91.32 $16,438.14
70 $16,438.14 $195.44 $0.00 $92.94 $16,726.52
71 $16,726.52 $195.44 $0.00 $94.57 $17,016.53
72 $17,016.53 $195.44 $0.00 $96.21 $17,308.18
73 $17,308.18 $195.44 $0.00 $97.86 $17,601.48
74 $17,601.48 $195.44 $0.00 $99.52 $17,896.44
75 $17,896.44 $195.44 $0.00 $101.19 $18,193.07
76 $18,193.07 $195.44 $0.00 $102.87 $18,491.38
77 $18,491.38 $195.44 $0.00 $104.55 $18,791.37
78 $18,791.37 $195.44 $0.00 $106.25 $19,093.06
79 $19,093.06 $195.44 $0.00 $107.95 $19,396.45
80 $19,396.45 $195.44 $0.00 $109.67 $19,701.56
81 $19,701.56 $195.44 $0.00 $111.40 $20,008.40
82 $20,008.40 $195.44 $0.00 $113.13 $20,316.97
83 $20,316.97 $195.44 $0.00 $114.88 $20,627.29
84 $20,627.29 $195.44 $0.00 $116.63 $20,939.36
85 $20,939.36 $195.44 $0.00 $118.39 $21,253.19
86 $21,253.19 $195.44 $0.00 $120.17 $21,568.80
87 $21,568.80 $195.44 $0.00 $121.95 $21,886.19
88 $21,886.19 $195.44 $0.00 $123.75 $22,205.38
89 $22,205.38 $195.44 $0.00 $125.55 $22,526.37
90 $22,526.37 $195.44 $0.00 $127.37 $22,849.18
91 $22,849.18 $195.44 $0.00 $129.19 $23,173.81
92 $23,173.81 $195.44 $0.00 $131.03 $23,500.28
93 $23,500.28 $195.44 $0.00 $132.87 $23,828.59
94 $23,828.59 $195.44 $0.00 $134.73 $24,158.76
95 $24,158.76 $195.44 $0.00 $136.60 $24,490.80
96 $24,490.80 $195.44 $0.00 $138.47 $24,824.71
97 $24,824.71 $195.44 $0.00 $140.36 $25,160.51
98 $25,160.51 $195.44 $0.00 $142.26 $25,498.21
99 $25,498.21 $195.44 $0.00 $144.17 $25,837.82
100 $25,837.82 $195.44 $0.00 $146.09 $26,179.35
101 $26,179.35 $195.44 $0.00 $148.02 $26,522.81
102 $26,522.81 $195.44 $0.00 $149.96 $26,868.21
103 $26,868.21 $195.44 $0.00 $151.92 $27,215.57
104 $27,215.57 $195.44 $0.00 $153.88 $27,564.89
105 $27,564.89 $195.44 $0.00 $155.86 $27,916.19
106 $27,916.19 $195.44 $0.00 $157.84 $28,269.47
107 $28,269.47 $195.44 $0.00 $159.84 $28,624.75
108 $28,624.75 $195.44 $0.00 $161.85 $28,982.04
109 $28,982.04 $195.44 $0.00 $163.87 $29,341.35
110 $29,341.35 $195.44 $0.00 $165.90 $29,702.69
111 $29,702.69 $195.44 $0.00 $167.94 $30,066.07
112 $30,066.07 $195.44 $0.00 $170.00 $30,431.51
113 $30,431.51 $195.44 $0.00 $172.06 $30,799.01
114 $30,799.01 $195.44 $0.00 $174.14 $31,168.59
115 $31,168.59 $195.44 $0.00 $176.23 $31,540.26
116 $31,540.26 $195.44 $0.00 $178.33 $31,914.03
117 $31,914.03 $195.44 $0.00 $180.45 $32,289.92
118 $32,289.92 $195.44 $0.00 $182.57 $32,667.93
119 $32,667.93 $195.44 $0.00 $184.71 $33,048.08
120 $33,048.08 $195.44 $0.00 $186.86 $33,430.38
121 $33,430.38 $195.44 $0.00 $189.02 $33,814.84
122 $33,814.84 $195.44 $0.00 $191.19 $34,201.47
123 $34,201.47 $195.44 $0.00 $193.38 $34,590.29
124 $34,590.29 $195.44 $0.00 $195.58 $34,981.31
125 $34,981.31 $195.44 $0.00 $197.79 $35,374.54
126 $35,374.54 $195.44 $0.00 $200.01 $35,769.99
127 $35,769.99 $195.44 $0.00 $202.25 $36,167.68
128 $36,167.68 $195.44 $0.00 $204.50 $36,567.62
129 $36,567.62 $195.44 $0.00 $206.76 $36,969.82
130 $36,969.82 $195.44 $0.00 $209.03 $37,374.29
131 $37,374.29 $195.44 $0.00 $211.32 $37,781.05
132 $37,781.05 $195.44 $0.00 $213.62 $38,190.11
133 $38,190.11 $195.44 $0.00 $215.93 $38,601.48
134 $38,601.48 $195.44 $0.00 $218.26 $39,015.18
135 $39,015.18 $195.44 $0.00 $220.60 $39,431.22
136 $39,431.22 $195.44 $0.00 $222.95 $39,849.61
137 $39,849.61 $195.44 $0.00 $225.32 $40,270.37
138 $40,270.37 $195.44 $0.00 $227.69 $40,693.50
139 $40,693.50 $195.44 $0.00 $230.09 $41,119.03
140 $41,119.03 $195.44 $0.00 $232.49 $41,546.96
141 $41,546.96 $195.44 $0.00 $234.91 $41,977.31
142 $41,977.31 $195.44 $0.00 $237.35 $42,410.10
143 $42,410.10 $195.44 $0.00 $239.79 $42,845.33
144 $42,845.33 $195.44 $0.00 $242.25 $43,283.02
145 $43,283.02 $195.44 $0.00 $244.73 $43,723.19
146 $43,723.19 $195.44 $0.00 $247.22 $44,165.85
147 $44,165.85 $195.44 $0.00 $249.72 $44,611.01
148 $44,611.01 $195.44 $0.00 $252.24 $45,058.69
149 $45,058.69 $195.44 $0.00 $254.77 $45,508.90
150 $45,508.90 $195.44 $0.00 $257.31 $45,961.65
151 $45,961.65 $195.44 $0.00 $259.87 $46,416.96
152 $46,416.96 $195.44 $0.00 $262.45 $46,874.85
153 $46,874.85 $195.44 $0.00 $265.04 $47,335.33
154 $47,335.33 $195.44 $0.00 $267.64 $47,798.41
155 $47,798.41 $195.44 $0.00 $270.26 $48,264.11
156 $48,264.11 $195.44 $0.00 $272.89 $48,732.44
157 $48,732.44 $195.44 $0.00 $275.54 $49,203.42
158 $49,203.42 $195.44 $0.00 $278.20 $49,677.06
159 $49,677.06 $195.44 $0.00 $280.88 $50,153.38
160 $50,153.38 $195.44 $0.00 $283.57 $50,632.39
161 $50,632.39 $195.44 $0.00 $286.28 $51,114.11
162 $51,114.11 $195.44 $0.00 $289.01 $51,598.56
163 $51,598.56 $195.44 $0.00 $291.75 $52,085.75
164 $52,085.75 $195.44 $0.00 $294.50 $52,575.69
165 $52,575.69 $195.44 $0.00 $297.27 $53,068.40
166 $53,068.40 $195.44 $0.00 $300.06 $53,563.90
167 $53,563.90 $195.44 $0.00 $302.86 $54,062.20
168 $54,062.20 $195.44 $0.00 $305.68 $54,563.32
169 $54,563.32 $195.44 $0.00 $308.51 $55,067.27
170 $55,067.27 $195.44 $0.00 $311.36 $55,574.07
171 $55,574.07 $195.44 $0.00 $314.22 $56,083.73
172 $56,083.73 $195.44 $0.00 $317.11 $56,596.28
173 $56,596.28 $195.44 $0.00 $320.00 $57,111.72
174 $57,111.72 $195.44 $0.00 $322.92 $57,630.08
175 $57,630.08 $195.44 $0.00 $325.85 $58,151.37
176 $58,151.37 $195.44 $0.00 $328.80 $58,675.61
177 $58,675.61 $195.44 $0.00 $331.76 $59,202.81
178 $59,202.81 $195.44 $0.00 $334.74 $59,732.99
179 $59,732.99 $195.44 $0.00 $337.74 $60,266.17
180 $60,266.17 $195.44 $0.00 $340.75 $60,802.36
181 $60,802.36 $195.44 $0.00 $343.79 $61,341.59
182 $61,341.59 $195.44 $0.00 $346.83 $61,883.86
183 $61,883.86 $195.44 $0.00 $349.90 $62,429.20
184 $62,429.20 $195.44 $0.00 $352.98 $62,977.62
185 $62,977.62 $195.44 $0.00 $356.08 $63,529.14
186 $63,529.14 $195.44 $0.00 $359.20 $64,083.78
187 $64,083.78 $195.44 $0.00 $362.34 $64,641.56
188 $64,641.56 $195.44 $0.00 $365.49 $65,202.49
189 $65,202.49 $195.44 $0.00 $368.66 $65,766.59
190 $65,766.59 $195.44 $0.00 $371.85 $66,333.88
191 $66,333.88 $195.44 $0.00 $375.06 $66,904.38
192 $66,904.38 $195.44 $0.00 $378.29 $67,478.11
193 $67,478.11 $195.44 $0.00 $381.53 $68,055.08
194 $68,055.08 $195.44 $0.00 $384.79 $68,635.31
195 $68,635.31 $195.44 $0.00 $388.07 $69,218.82
196 $69,218.82 $195.44 $0.00 $391.37 $69,805.63
197 $69,805.63 $195.44 $0.00 $394.69 $70,395.76
198 $70,395.76 $195.44 $0.00 $398.03 $70,989.23
199 $70,989.23 $195.44 $0.00 $401.38 $71,586.05
200 $71,586.05 $195.44 $0.00 $404.76 $72,186.25
201 $72,186.25 $195.44 $0.00 $408.15 $72,789.84
202 $72,789.84 $195.44 $0.00 $411.56 $73,396.84
203 $73,396.84 $195.44 $0.00 $415.00 $74,007.28
204 $74,007.28 $195.44 $0.00 $418.45 $74,621.17
205 $74,621.17 $195.44 $0.00 $421.92 $75,238.53
206 $75,238.53 $195.44 $0.00 $425.41 $75,859.38
207 $75,859.38 $195.44 $0.00 $428.92 $76,483.74
208 $76,483.74 $195.44 $0.00 $432.45 $77,111.63
209 $77,111.63 $195.44 $0.00 $436.00 $77,743.07
210 $77,743.07 $195.44 $0.00 $439.57 $78,378.08
211 $78,378.08 $195.44 $0.00 $443.16 $79,016.68
212 $79,016.68 $195.44 $0.00 $446.77 $79,658.89
213 $79,658.89 $195.44 $0.00 $450.40 $80,304.73
214 $80,304.73 $195.44 $0.00 $454.05 $80,954.22
215 $80,954.22 $195.44 $0.00 $457.73 $81,607.39
216 $81,607.39 $195.44 $0.00 $461.42 $82,264.25
217 $82,264.25 $195.44 $42,502.65 $465.13 $40,422.17
218 $40,422.17 $195.44 $0.00 $228.55 $40,846.16
219 $40,846.16 $195.44 $0.00 $230.95 $41,272.55
220 $41,272.55 $195.44 $0.00 $233.36 $41,701.35
221 $41,701.35 $195.44 $0.00 $235.79 $42,132.58
222 $42,132.58 $195.44 $0.00 $238.22 $42,566.24
223 $42,566.24 $195.44 $0.00 $240.68 $43,002.36
224 $43,002.36 $195.44 $0.00 $243.14 $43,440.94
225 $43,440.94 $195.44 $0.00 $245.62 $43,882.00
226 $43,882.00 $195.44 $0.00 $248.12 $44,325.56
227 $44,325.56 $195.44 $0.00 $250.62 $44,771.62
228 $44,771.62 $195.44 $0.00 $253.15 $45,220.21
229 $45,220.21 $0.00 $45,477.83 $255.68 -$1.94