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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$52,498
Monthly savings required$233

How much will it cost to send your child to Palomar College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $104,996.22 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $233.32 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$21,282.00
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 $233.32 $0.00 $0.00 $233.32
2 $233.32 $233.32 $0.00 $1.32 $467.96
3 $467.96 $233.32 $0.00 $2.65 $703.93
4 $703.93 $233.32 $0.00 $3.98 $941.23
5 $941.23 $233.32 $0.00 $5.32 $1,179.87
6 $1,179.87 $233.32 $0.00 $6.67 $1,419.86
7 $1,419.86 $233.32 $0.00 $8.03 $1,661.21
8 $1,661.21 $233.32 $0.00 $9.39 $1,903.92
9 $1,903.92 $233.32 $0.00 $10.77 $2,148.01
10 $2,148.01 $233.32 $0.00 $12.15 $2,393.48
11 $2,393.48 $233.32 $0.00 $13.53 $2,640.33
12 $2,640.33 $233.32 $0.00 $14.93 $2,888.58
13 $2,888.58 $233.32 $0.00 $16.33 $3,138.23
14 $3,138.23 $233.32 $0.00 $17.74 $3,389.29
15 $3,389.29 $233.32 $0.00 $19.16 $3,641.77
16 $3,641.77 $233.32 $0.00 $20.59 $3,895.68
17 $3,895.68 $233.32 $0.00 $22.03 $4,151.03
18 $4,151.03 $233.32 $0.00 $23.47 $4,407.82
19 $4,407.82 $233.32 $0.00 $24.92 $4,666.06
20 $4,666.06 $233.32 $0.00 $26.38 $4,925.76
21 $4,925.76 $233.32 $0.00 $27.85 $5,186.93
22 $5,186.93 $233.32 $0.00 $29.33 $5,449.58
23 $5,449.58 $233.32 $0.00 $30.81 $5,713.71
24 $5,713.71 $233.32 $0.00 $32.31 $5,979.34
25 $5,979.34 $233.32 $0.00 $33.81 $6,246.47
26 $6,246.47 $233.32 $0.00 $35.32 $6,515.11
27 $6,515.11 $233.32 $0.00 $36.84 $6,785.27
28 $6,785.27 $233.32 $0.00 $38.36 $7,056.95
29 $7,056.95 $233.32 $0.00 $39.90 $7,330.17
30 $7,330.17 $233.32 $0.00 $41.45 $7,604.94
31 $7,604.94 $233.32 $0.00 $43.00 $7,881.26
32 $7,881.26 $233.32 $0.00 $44.56 $8,159.14
33 $8,159.14 $233.32 $0.00 $46.13 $8,438.59
34 $8,438.59 $233.32 $0.00 $47.71 $8,719.62
35 $8,719.62 $233.32 $0.00 $49.30 $9,002.24
36 $9,002.24 $233.32 $0.00 $50.90 $9,286.46
37 $9,286.46 $233.32 $0.00 $52.51 $9,572.29
38 $9,572.29 $233.32 $0.00 $54.12 $9,859.73
39 $9,859.73 $233.32 $0.00 $55.75 $10,148.80
40 $10,148.80 $233.32 $0.00 $57.38 $10,439.50
41 $10,439.50 $233.32 $0.00 $59.03 $10,731.85
42 $10,731.85 $233.32 $0.00 $60.68 $11,025.85
43 $11,025.85 $233.32 $0.00 $62.34 $11,321.51
44 $11,321.51 $233.32 $0.00 $64.01 $11,618.84
45 $11,618.84 $233.32 $0.00 $65.69 $11,917.85
46 $11,917.85 $233.32 $0.00 $67.39 $12,218.56
47 $12,218.56 $233.32 $0.00 $69.09 $12,520.97
48 $12,520.97 $233.32 $0.00 $70.80 $12,825.09
49 $12,825.09 $233.32 $0.00 $72.51 $13,130.92
50 $13,130.92 $233.32 $0.00 $74.24 $13,438.48
51 $13,438.48 $233.32 $0.00 $75.98 $13,747.78
52 $13,747.78 $233.32 $0.00 $77.73 $14,058.83
53 $14,058.83 $233.32 $0.00 $79.49 $14,371.64
54 $14,371.64 $233.32 $0.00 $81.26 $14,686.22
55 $14,686.22 $233.32 $0.00 $83.04 $15,002.58
56 $15,002.58 $233.32 $0.00 $84.83 $15,320.73
57 $15,320.73 $233.32 $0.00 $86.63 $15,640.68
58 $15,640.68 $233.32 $0.00 $88.43 $15,962.43
59 $15,962.43 $233.32 $0.00 $90.25 $16,286.00
60 $16,286.00 $233.32 $0.00 $92.08 $16,611.40
61 $16,611.40 $233.32 $0.00 $93.92 $16,938.64
62 $16,938.64 $233.32 $0.00 $95.77 $17,267.73
63 $17,267.73 $233.32 $0.00 $97.63 $17,598.68
64 $17,598.68 $233.32 $0.00 $99.51 $17,931.51
65 $17,931.51 $233.32 $0.00 $101.39 $18,266.22
66 $18,266.22 $233.32 $0.00 $103.28 $18,602.82
67 $18,602.82 $233.32 $0.00 $105.18 $18,941.32
68 $18,941.32 $233.32 $0.00 $107.10 $19,281.74
69 $19,281.74 $233.32 $0.00 $109.02 $19,624.08
70 $19,624.08 $233.32 $0.00 $110.96 $19,968.36
71 $19,968.36 $233.32 $0.00 $112.90 $20,314.58
72 $20,314.58 $233.32 $0.00 $114.86 $20,662.76
73 $20,662.76 $233.32 $0.00 $116.83 $21,012.91
74 $21,012.91 $233.32 $0.00 $118.81 $21,365.04
75 $21,365.04 $233.32 $0.00 $120.80 $21,719.16
76 $21,719.16 $233.32 $0.00 $122.80 $22,075.28
77 $22,075.28 $233.32 $0.00 $124.82 $22,433.42
78 $22,433.42 $233.32 $0.00 $126.84 $22,793.58
79 $22,793.58 $233.32 $0.00 $128.88 $23,155.78
80 $23,155.78 $233.32 $0.00 $130.93 $23,520.03
81 $23,520.03 $233.32 $0.00 $132.99 $23,886.34
82 $23,886.34 $233.32 $0.00 $135.06 $24,254.72
83 $24,254.72 $233.32 $0.00 $137.14 $24,625.18
84 $24,625.18 $233.32 $0.00 $139.23 $24,997.73
85 $24,997.73 $233.32 $0.00 $141.34 $25,372.39
86 $25,372.39 $233.32 $0.00 $143.46 $25,749.17
87 $25,749.17 $233.32 $0.00 $145.59 $26,128.08
88 $26,128.08 $233.32 $0.00 $147.73 $26,509.13
89 $26,509.13 $233.32 $0.00 $149.89 $26,892.34
90 $26,892.34 $233.32 $0.00 $152.05 $27,277.71
91 $27,277.71 $233.32 $0.00 $154.23 $27,665.26
92 $27,665.26 $233.32 $0.00 $156.42 $28,055.00
93 $28,055.00 $233.32 $0.00 $158.63 $28,446.95
94 $28,446.95 $233.32 $0.00 $160.84 $28,841.11
95 $28,841.11 $233.32 $0.00 $163.07 $29,237.50
96 $29,237.50 $233.32 $0.00 $165.31 $29,636.13
97 $29,636.13 $233.32 $0.00 $167.57 $30,037.02
98 $30,037.02 $233.32 $0.00 $169.83 $30,440.17
99 $30,440.17 $233.32 $0.00 $172.11 $30,845.60
100 $30,845.60 $233.32 $0.00 $174.41 $31,253.33
101 $31,253.33 $233.32 $0.00 $176.71 $31,663.36
102 $31,663.36 $233.32 $0.00 $179.03 $32,075.71
103 $32,075.71 $233.32 $0.00 $181.36 $32,490.39
104 $32,490.39 $233.32 $0.00 $183.71 $32,907.42
105 $32,907.42 $233.32 $0.00 $186.06 $33,326.80
106 $33,326.80 $233.32 $0.00 $188.43 $33,748.55
107 $33,748.55 $233.32 $0.00 $190.82 $34,172.69
108 $34,172.69 $233.32 $0.00 $193.22 $34,599.23
109 $34,599.23 $233.32 $0.00 $195.63 $35,028.18
110 $35,028.18 $233.32 $0.00 $198.05 $35,459.55
111 $35,459.55 $233.32 $0.00 $200.49 $35,893.36
112 $35,893.36 $233.32 $0.00 $202.95 $36,329.63
113 $36,329.63 $233.32 $0.00 $205.41 $36,768.36
114 $36,768.36 $233.32 $0.00 $207.89 $37,209.57
115 $37,209.57 $233.32 $0.00 $210.39 $37,653.28
116 $37,653.28 $233.32 $0.00 $212.90 $38,099.50
117 $38,099.50 $233.32 $0.00 $215.42 $38,548.24
118 $38,548.24 $233.32 $0.00 $217.96 $38,999.52
119 $38,999.52 $233.32 $0.00 $220.51 $39,453.35
120 $39,453.35 $233.32 $0.00 $223.07 $39,909.74
121 $39,909.74 $233.32 $0.00 $225.66 $40,368.72
122 $40,368.72 $233.32 $0.00 $228.25 $40,830.29
123 $40,830.29 $233.32 $0.00 $230.86 $41,294.47
124 $41,294.47 $233.32 $0.00 $233.48 $41,761.27
125 $41,761.27 $233.32 $0.00 $236.12 $42,230.71
126 $42,230.71 $233.32 $0.00 $238.78 $42,702.81
127 $42,702.81 $233.32 $0.00 $241.45 $43,177.58
128 $43,177.58 $233.32 $0.00 $244.13 $43,655.03
129 $43,655.03 $233.32 $0.00 $246.83 $44,135.18
130 $44,135.18 $233.32 $0.00 $249.55 $44,618.05
131 $44,618.05 $233.32 $0.00 $252.28 $45,103.65
132 $45,103.65 $233.32 $0.00 $255.02 $45,591.99
133 $45,591.99 $233.32 $0.00 $257.78 $46,083.09
134 $46,083.09 $233.32 $0.00 $260.56 $46,576.97
135 $46,576.97 $233.32 $0.00 $263.35 $47,073.64
136 $47,073.64 $233.32 $0.00 $266.16 $47,573.12
137 $47,573.12 $233.32 $0.00 $268.99 $48,075.43
138 $48,075.43 $233.32 $0.00 $271.83 $48,580.58
139 $48,580.58 $233.32 $0.00 $274.68 $49,088.58
140 $49,088.58 $233.32 $0.00 $277.55 $49,599.45
141 $49,599.45 $233.32 $0.00 $280.44 $50,113.21
142 $50,113.21 $233.32 $0.00 $283.35 $50,629.88
143 $50,629.88 $233.32 $0.00 $286.27 $51,149.47
144 $51,149.47 $233.32 $0.00 $289.21 $51,672.00
145 $51,672.00 $233.32 $0.00 $292.16 $52,197.48
146 $52,197.48 $233.32 $0.00 $295.13 $52,725.93
147 $52,725.93 $233.32 $0.00 $298.12 $53,257.37
148 $53,257.37 $233.32 $0.00 $301.12 $53,791.81
149 $53,791.81 $233.32 $0.00 $304.15 $54,329.28
150 $54,329.28 $233.32 $0.00 $307.19 $54,869.79
151 $54,869.79 $233.32 $0.00 $310.24 $55,413.35
152 $55,413.35 $233.32 $0.00 $313.32 $55,959.99
153 $55,959.99 $233.32 $0.00 $316.41 $56,509.72
154 $56,509.72 $233.32 $0.00 $319.51 $57,062.55
155 $57,062.55 $233.32 $0.00 $322.64 $57,618.51
156 $57,618.51 $233.32 $0.00 $325.78 $58,177.61
157 $58,177.61 $233.32 $0.00 $328.94 $58,739.87
158 $58,739.87 $233.32 $0.00 $332.12 $59,305.31
159 $59,305.31 $233.32 $0.00 $335.32 $59,873.95
160 $59,873.95 $233.32 $0.00 $338.54 $60,445.81
161 $60,445.81 $233.32 $0.00 $341.77 $61,020.90
162 $61,020.90 $233.32 $0.00 $345.02 $61,599.24
163 $61,599.24 $233.32 $0.00 $348.29 $62,180.85
164 $62,180.85 $233.32 $0.00 $351.58 $62,765.75
165 $62,765.75 $233.32 $0.00 $354.89 $63,353.96
166 $63,353.96 $233.32 $0.00 $358.21 $63,945.49
167 $63,945.49 $233.32 $0.00 $361.56 $64,540.37
168 $64,540.37 $233.32 $0.00 $364.92 $65,138.61
169 $65,138.61 $233.32 $0.00 $368.30 $65,740.23
170 $65,740.23 $233.32 $0.00 $371.70 $66,345.25
171 $66,345.25 $233.32 $0.00 $375.13 $66,953.70
172 $66,953.70 $233.32 $0.00 $378.57 $67,565.59
173 $67,565.59 $233.32 $0.00 $382.03 $68,180.94
174 $68,180.94 $233.32 $0.00 $385.50 $68,799.76
175 $68,799.76 $233.32 $0.00 $389.00 $69,422.08
176 $69,422.08 $233.32 $0.00 $392.52 $70,047.92
177 $70,047.92 $233.32 $0.00 $396.06 $70,677.30
178 $70,677.30 $233.32 $0.00 $399.62 $71,310.24
179 $71,310.24 $233.32 $0.00 $403.20 $71,946.76
180 $71,946.76 $233.32 $0.00 $406.80 $72,586.88
181 $72,586.88 $233.32 $0.00 $410.42 $73,230.62
182 $73,230.62 $233.32 $0.00 $414.06 $73,878.00
183 $73,878.00 $233.32 $0.00 $417.72 $74,529.04
184 $74,529.04 $233.32 $0.00 $421.40 $75,183.76
185 $75,183.76 $233.32 $0.00 $425.10 $75,842.18
186 $75,842.18 $233.32 $0.00 $428.82 $76,504.32
187 $76,504.32 $233.32 $0.00 $432.57 $77,170.21
188 $77,170.21 $233.32 $0.00 $436.33 $77,839.86
189 $77,839.86 $233.32 $0.00 $440.12 $78,513.30
190 $78,513.30 $233.32 $0.00 $443.93 $79,190.55
191 $79,190.55 $233.32 $0.00 $447.75 $79,871.62
192 $79,871.62 $233.32 $0.00 $451.61 $80,556.55
193 $80,556.55 $233.32 $0.00 $455.48 $81,245.35
194 $81,245.35 $233.32 $0.00 $459.37 $81,938.04
195 $81,938.04 $233.32 $0.00 $463.29 $82,634.65
196 $82,634.65 $233.32 $0.00 $467.23 $83,335.20
197 $83,335.20 $233.32 $0.00 $471.19 $84,039.71
198 $84,039.71 $233.32 $0.00 $475.17 $84,748.20
199 $84,748.20 $233.32 $0.00 $479.18 $85,460.70
200 $85,460.70 $233.32 $0.00 $483.21 $86,177.23
201 $86,177.23 $233.32 $0.00 $487.26 $86,897.81
202 $86,897.81 $233.32 $0.00 $491.33 $87,622.46
203 $87,622.46 $233.32 $0.00 $495.43 $88,351.21
204 $88,351.21 $233.32 $0.00 $499.55 $89,084.08
205 $89,084.08 $233.32 $0.00 $503.69 $89,821.09
206 $89,821.09 $233.32 $0.00 $507.86 $90,562.27
207 $90,562.27 $233.32 $0.00 $512.05 $91,307.64
208 $91,307.64 $233.32 $0.00 $516.27 $92,057.23
209 $92,057.23 $233.32 $0.00 $520.50 $92,811.05
210 $92,811.05 $233.32 $0.00 $524.77 $93,569.14
211 $93,569.14 $233.32 $0.00 $529.05 $94,331.51
212 $94,331.51 $233.32 $0.00 $533.36 $95,098.19
213 $95,098.19 $233.32 $0.00 $537.70 $95,869.21
214 $95,869.21 $233.32 $0.00 $542.06 $96,644.59
215 $96,644.59 $233.32 $0.00 $546.44 $97,424.35
216 $97,424.35 $233.32 $0.00 $550.85 $98,208.52
217 $98,208.52 $233.32 $51,217.67 $555.29 $47,779.46
218 $47,779.46 $233.32 $0.00 $270.15 $48,282.93
219 $48,282.93 $233.32 $0.00 $273.00 $48,789.25
220 $48,789.25 $233.32 $0.00 $275.86 $49,298.43
221 $49,298.43 $233.32 $0.00 $278.74 $49,810.49
222 $49,810.49 $233.32 $0.00 $281.64 $50,325.45
223 $50,325.45 $233.32 $0.00 $284.55 $50,843.32
224 $50,843.32 $233.32 $0.00 $287.48 $51,364.12
225 $51,364.12 $233.32 $0.00 $290.42 $51,887.86
226 $51,887.86 $233.32 $0.00 $293.38 $52,414.56
227 $52,414.56 $233.32 $0.00 $296.36 $52,944.24
228 $52,944.24 $233.32 $0.00 $299.35 $53,476.91
229 $53,476.91 $0.00 $53,778.55 $302.37 $0.73