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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$52,049
Monthly savings required$231

How much will it cost to send your child to College of the Canyons in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $104,098.31 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $231.32 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$21,100.00
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 $231.32 $0.00 $0.00 $231.32
2 $231.32 $231.32 $0.00 $1.31 $463.95
3 $463.95 $231.32 $0.00 $2.62 $697.89
4 $697.89 $231.32 $0.00 $3.95 $933.16
5 $933.16 $231.32 $0.00 $5.28 $1,169.76
6 $1,169.76 $231.32 $0.00 $6.61 $1,407.69
7 $1,407.69 $231.32 $0.00 $7.96 $1,646.97
8 $1,646.97 $231.32 $0.00 $9.31 $1,887.60
9 $1,887.60 $231.32 $0.00 $10.67 $2,129.59
10 $2,129.59 $231.32 $0.00 $12.04 $2,372.95
11 $2,372.95 $231.32 $0.00 $13.42 $2,617.69
12 $2,617.69 $231.32 $0.00 $14.80 $2,863.81
13 $2,863.81 $231.32 $0.00 $16.19 $3,111.32
14 $3,111.32 $231.32 $0.00 $17.59 $3,360.23
15 $3,360.23 $231.32 $0.00 $19.00 $3,610.55
16 $3,610.55 $231.32 $0.00 $20.41 $3,862.28
17 $3,862.28 $231.32 $0.00 $21.84 $4,115.44
18 $4,115.44 $231.32 $0.00 $23.27 $4,370.03
19 $4,370.03 $231.32 $0.00 $24.71 $4,626.06
20 $4,626.06 $231.32 $0.00 $26.16 $4,883.54
21 $4,883.54 $231.32 $0.00 $27.61 $5,142.47
22 $5,142.47 $231.32 $0.00 $29.08 $5,402.87
23 $5,402.87 $231.32 $0.00 $30.55 $5,664.74
24 $5,664.74 $231.32 $0.00 $32.03 $5,928.09
25 $5,928.09 $231.32 $0.00 $33.52 $6,192.93
26 $6,192.93 $231.32 $0.00 $35.02 $6,459.27
27 $6,459.27 $231.32 $0.00 $36.52 $6,727.11
28 $6,727.11 $231.32 $0.00 $38.04 $6,996.47
29 $6,996.47 $231.32 $0.00 $39.56 $7,267.35
30 $7,267.35 $231.32 $0.00 $41.09 $7,539.76
31 $7,539.76 $231.32 $0.00 $42.63 $7,813.71
32 $7,813.71 $231.32 $0.00 $44.18 $8,089.21
33 $8,089.21 $231.32 $0.00 $45.74 $8,366.27
34 $8,366.27 $231.32 $0.00 $47.30 $8,644.89
35 $8,644.89 $231.32 $0.00 $48.88 $8,925.09
36 $8,925.09 $231.32 $0.00 $50.46 $9,206.87
37 $9,206.87 $231.32 $0.00 $52.06 $9,490.25
38 $9,490.25 $231.32 $0.00 $53.66 $9,775.23
39 $9,775.23 $231.32 $0.00 $55.27 $10,061.82
40 $10,061.82 $231.32 $0.00 $56.89 $10,350.03
41 $10,350.03 $231.32 $0.00 $58.52 $10,639.87
42 $10,639.87 $231.32 $0.00 $60.16 $10,931.35
43 $10,931.35 $231.32 $0.00 $61.81 $11,224.48
44 $11,224.48 $231.32 $0.00 $63.46 $11,519.26
45 $11,519.26 $231.32 $0.00 $65.13 $11,815.71
46 $11,815.71 $231.32 $0.00 $66.81 $12,113.84
47 $12,113.84 $231.32 $0.00 $68.49 $12,413.65
48 $12,413.65 $231.32 $0.00 $70.19 $12,715.16
49 $12,715.16 $231.32 $0.00 $71.89 $13,018.37
50 $13,018.37 $231.32 $0.00 $73.61 $13,323.30
51 $13,323.30 $231.32 $0.00 $75.33 $13,629.95
52 $13,629.95 $231.32 $0.00 $77.07 $13,938.34
53 $13,938.34 $231.32 $0.00 $78.81 $14,248.47
54 $14,248.47 $231.32 $0.00 $80.56 $14,560.35
55 $14,560.35 $231.32 $0.00 $82.33 $14,874.00
56 $14,874.00 $231.32 $0.00 $84.10 $15,189.42
57 $15,189.42 $231.32 $0.00 $85.88 $15,506.62
58 $15,506.62 $231.32 $0.00 $87.68 $15,825.62
59 $15,825.62 $231.32 $0.00 $89.48 $16,146.42
60 $16,146.42 $231.32 $0.00 $91.29 $16,469.03
61 $16,469.03 $231.32 $0.00 $93.12 $16,793.47
62 $16,793.47 $231.32 $0.00 $94.95 $17,119.74
63 $17,119.74 $231.32 $0.00 $96.80 $17,447.86
64 $17,447.86 $231.32 $0.00 $98.65 $17,777.83
65 $17,777.83 $231.32 $0.00 $100.52 $18,109.67
66 $18,109.67 $231.32 $0.00 $102.39 $18,443.38
67 $18,443.38 $231.32 $0.00 $104.28 $18,778.98
68 $18,778.98 $231.32 $0.00 $106.18 $19,116.48
69 $19,116.48 $231.32 $0.00 $108.09 $19,455.89
70 $19,455.89 $231.32 $0.00 $110.01 $19,797.22
71 $19,797.22 $231.32 $0.00 $111.94 $20,140.48
72 $20,140.48 $231.32 $0.00 $113.88 $20,485.68
73 $20,485.68 $231.32 $0.00 $115.83 $20,832.83
74 $20,832.83 $231.32 $0.00 $117.79 $21,181.94
75 $21,181.94 $231.32 $0.00 $119.77 $21,533.03
76 $21,533.03 $231.32 $0.00 $121.75 $21,886.10
77 $21,886.10 $231.32 $0.00 $123.75 $22,241.17
78 $22,241.17 $231.32 $0.00 $125.75 $22,598.24
79 $22,598.24 $231.32 $0.00 $127.77 $22,957.33
80 $22,957.33 $231.32 $0.00 $129.80 $23,318.45
81 $23,318.45 $231.32 $0.00 $131.85 $23,681.62
82 $23,681.62 $231.32 $0.00 $133.90 $24,046.84
83 $24,046.84 $231.32 $0.00 $135.96 $24,414.12
84 $24,414.12 $231.32 $0.00 $138.04 $24,783.48
85 $24,783.48 $231.32 $0.00 $140.13 $25,154.93
86 $25,154.93 $231.32 $0.00 $142.23 $25,528.48
87 $25,528.48 $231.32 $0.00 $144.34 $25,904.14
88 $25,904.14 $231.32 $0.00 $146.47 $26,281.93
89 $26,281.93 $231.32 $0.00 $148.60 $26,661.85
90 $26,661.85 $231.32 $0.00 $150.75 $27,043.92
91 $27,043.92 $231.32 $0.00 $152.91 $27,428.15
92 $27,428.15 $231.32 $0.00 $155.08 $27,814.55
93 $27,814.55 $231.32 $0.00 $157.27 $28,203.14
94 $28,203.14 $231.32 $0.00 $159.46 $28,593.92
95 $28,593.92 $231.32 $0.00 $161.67 $28,986.91
96 $28,986.91 $231.32 $0.00 $163.90 $29,382.13
97 $29,382.13 $231.32 $0.00 $166.13 $29,779.58
98 $29,779.58 $231.32 $0.00 $168.38 $30,179.28
99 $30,179.28 $231.32 $0.00 $170.64 $30,581.24
100 $30,581.24 $231.32 $0.00 $172.91 $30,985.47
101 $30,985.47 $231.32 $0.00 $175.20 $31,391.99
102 $31,391.99 $231.32 $0.00 $177.49 $31,800.80
103 $31,800.80 $231.32 $0.00 $179.81 $32,211.93
104 $32,211.93 $231.32 $0.00 $182.13 $32,625.38
105 $32,625.38 $231.32 $0.00 $184.47 $33,041.17
106 $33,041.17 $231.32 $0.00 $186.82 $33,459.31
107 $33,459.31 $231.32 $0.00 $189.18 $33,879.81
108 $33,879.81 $231.32 $0.00 $191.56 $34,302.69
109 $34,302.69 $231.32 $0.00 $193.95 $34,727.96
110 $34,727.96 $231.32 $0.00 $196.36 $35,155.64
111 $35,155.64 $231.32 $0.00 $198.78 $35,585.74
112 $35,585.74 $231.32 $0.00 $201.21 $36,018.27
113 $36,018.27 $231.32 $0.00 $203.65 $36,453.24
114 $36,453.24 $231.32 $0.00 $206.11 $36,890.67
115 $36,890.67 $231.32 $0.00 $208.59 $37,330.58
116 $37,330.58 $231.32 $0.00 $211.07 $37,772.97
117 $37,772.97 $231.32 $0.00 $213.57 $38,217.86
118 $38,217.86 $231.32 $0.00 $216.09 $38,665.27
119 $38,665.27 $231.32 $0.00 $218.62 $39,115.21
120 $39,115.21 $231.32 $0.00 $221.16 $39,567.69
121 $39,567.69 $231.32 $0.00 $223.72 $40,022.73
122 $40,022.73 $231.32 $0.00 $226.29 $40,480.34
123 $40,480.34 $231.32 $0.00 $228.88 $40,940.54
124 $40,940.54 $231.32 $0.00 $231.48 $41,403.34
125 $41,403.34 $231.32 $0.00 $234.10 $41,868.76
126 $41,868.76 $231.32 $0.00 $236.73 $42,336.81
127 $42,336.81 $231.32 $0.00 $239.38 $42,807.51
128 $42,807.51 $231.32 $0.00 $242.04 $43,280.87
129 $43,280.87 $231.32 $0.00 $244.72 $43,756.91
130 $43,756.91 $231.32 $0.00 $247.41 $44,235.64
131 $44,235.64 $231.32 $0.00 $250.11 $44,717.07
132 $44,717.07 $231.32 $0.00 $252.84 $45,201.23
133 $45,201.23 $231.32 $0.00 $255.57 $45,688.12
134 $45,688.12 $231.32 $0.00 $258.33 $46,177.77
135 $46,177.77 $231.32 $0.00 $261.10 $46,670.19
136 $46,670.19 $231.32 $0.00 $263.88 $47,165.39
137 $47,165.39 $231.32 $0.00 $266.68 $47,663.39
138 $47,663.39 $231.32 $0.00 $269.50 $48,164.21
139 $48,164.21 $231.32 $0.00 $272.33 $48,667.86
140 $48,667.86 $231.32 $0.00 $275.18 $49,174.36
141 $49,174.36 $231.32 $0.00 $278.04 $49,683.72
142 $49,683.72 $231.32 $0.00 $280.92 $50,195.96
143 $50,195.96 $231.32 $0.00 $283.82 $50,711.10
144 $50,711.10 $231.32 $0.00 $286.73 $51,229.15
145 $51,229.15 $231.32 $0.00 $289.66 $51,750.13
146 $51,750.13 $231.32 $0.00 $292.60 $52,274.05
147 $52,274.05 $231.32 $0.00 $295.57 $52,800.94
148 $52,800.94 $231.32 $0.00 $298.54 $53,330.80
149 $53,330.80 $231.32 $0.00 $301.54 $53,863.66
150 $53,863.66 $231.32 $0.00 $304.55 $54,399.53
151 $54,399.53 $231.32 $0.00 $307.58 $54,938.43
152 $54,938.43 $231.32 $0.00 $310.63 $55,480.38
153 $55,480.38 $231.32 $0.00 $313.69 $56,025.39
154 $56,025.39 $231.32 $0.00 $316.78 $56,573.49
155 $56,573.49 $231.32 $0.00 $319.87 $57,124.68
156 $57,124.68 $231.32 $0.00 $322.99 $57,678.99
157 $57,678.99 $231.32 $0.00 $326.13 $58,236.44
158 $58,236.44 $231.32 $0.00 $329.28 $58,797.04
159 $58,797.04 $231.32 $0.00 $332.45 $59,360.81
160 $59,360.81 $231.32 $0.00 $335.63 $59,927.76
161 $59,927.76 $231.32 $0.00 $338.84 $60,497.92
162 $60,497.92 $231.32 $0.00 $342.06 $61,071.30
163 $61,071.30 $231.32 $0.00 $345.31 $61,647.93
164 $61,647.93 $231.32 $0.00 $348.57 $62,227.82
165 $62,227.82 $231.32 $0.00 $351.85 $62,810.99
166 $62,810.99 $231.32 $0.00 $355.14 $63,397.45
167 $63,397.45 $231.32 $0.00 $358.46 $63,987.23
168 $63,987.23 $231.32 $0.00 $361.79 $64,580.34
169 $64,580.34 $231.32 $0.00 $365.15 $65,176.81
170 $65,176.81 $231.32 $0.00 $368.52 $65,776.65
171 $65,776.65 $231.32 $0.00 $371.91 $66,379.88
172 $66,379.88 $231.32 $0.00 $375.32 $66,986.52
173 $66,986.52 $231.32 $0.00 $378.75 $67,596.59
174 $67,596.59 $231.32 $0.00 $382.20 $68,210.11
175 $68,210.11 $231.32 $0.00 $385.67 $68,827.10
176 $68,827.10 $231.32 $0.00 $389.16 $69,447.58
177 $69,447.58 $231.32 $0.00 $392.67 $70,071.57
178 $70,071.57 $231.32 $0.00 $396.19 $70,699.08
179 $70,699.08 $231.32 $0.00 $399.74 $71,330.14
180 $71,330.14 $231.32 $0.00 $403.31 $71,964.77
181 $71,964.77 $231.32 $0.00 $406.90 $72,602.99
182 $72,602.99 $231.32 $0.00 $410.51 $73,244.82
183 $73,244.82 $231.32 $0.00 $414.14 $73,890.28
184 $73,890.28 $231.32 $0.00 $417.79 $74,539.39
185 $74,539.39 $231.32 $0.00 $421.46 $75,192.17
186 $75,192.17 $231.32 $0.00 $425.15 $75,848.64
187 $75,848.64 $231.32 $0.00 $428.86 $76,508.82
188 $76,508.82 $231.32 $0.00 $432.59 $77,172.73
189 $77,172.73 $231.32 $0.00 $436.35 $77,840.40
190 $77,840.40 $231.32 $0.00 $440.12 $78,511.84
191 $78,511.84 $231.32 $0.00 $443.92 $79,187.08
192 $79,187.08 $231.32 $0.00 $447.74 $79,866.14
193 $79,866.14 $231.32 $0.00 $451.57 $80,549.03
194 $80,549.03 $231.32 $0.00 $455.44 $81,235.79
195 $81,235.79 $231.32 $0.00 $459.32 $81,926.43
196 $81,926.43 $231.32 $0.00 $463.22 $82,620.97
197 $82,620.97 $231.32 $0.00 $467.15 $83,319.44
198 $83,319.44 $231.32 $0.00 $471.10 $84,021.86
199 $84,021.86 $231.32 $0.00 $475.07 $84,728.25
200 $84,728.25 $231.32 $0.00 $479.07 $85,438.64
201 $85,438.64 $231.32 $0.00 $483.08 $86,153.04
202 $86,153.04 $231.32 $0.00 $487.12 $86,871.48
203 $86,871.48 $231.32 $0.00 $491.18 $87,593.98
204 $87,593.98 $231.32 $0.00 $495.27 $88,320.57
205 $88,320.57 $231.32 $0.00 $499.38 $89,051.27
206 $89,051.27 $231.32 $0.00 $503.51 $89,786.10
207 $89,786.10 $231.32 $0.00 $507.66 $90,525.08
208 $90,525.08 $231.32 $0.00 $511.84 $91,268.24
209 $91,268.24 $231.32 $0.00 $516.04 $92,015.60
210 $92,015.60 $231.32 $0.00 $520.27 $92,767.19
211 $92,767.19 $231.32 $0.00 $524.52 $93,523.03
212 $93,523.03 $231.32 $0.00 $528.79 $94,283.14
213 $94,283.14 $231.32 $0.00 $533.09 $95,047.55
214 $95,047.55 $231.32 $0.00 $537.41 $95,816.28
215 $95,816.28 $231.32 $0.00 $541.76 $96,589.36
216 $96,589.36 $231.32 $0.00 $546.13 $97,366.81
217 $97,366.81 $231.32 $50,779.67 $550.53 $47,368.99
218 $47,368.99 $231.32 $0.00 $267.83 $47,868.14
219 $47,868.14 $231.32 $0.00 $270.65 $48,370.11
220 $48,370.11 $231.32 $0.00 $273.49 $48,874.92
221 $48,874.92 $231.32 $0.00 $276.35 $49,382.59
222 $49,382.59 $231.32 $0.00 $279.22 $49,893.13
223 $49,893.13 $231.32 $0.00 $282.10 $50,406.55
224 $50,406.55 $231.32 $0.00 $285.01 $50,922.88
225 $50,922.88 $231.32 $0.00 $287.93 $51,442.13
226 $51,442.13 $231.32 $0.00 $290.86 $51,964.31
227 $51,964.31 $231.32 $0.00 $293.81 $52,489.44
228 $52,489.44 $231.32 $0.00 $296.78 $53,017.54
229 $53,017.54 $0.00 $53,318.65 $299.77 ($1.34)