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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$29,113
Monthly savings required$129

How much will it cost to send your child to Reedley College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $58,225.99 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $129.38 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$11,802.00
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 $129.38 $0.00 $0.00 $129.38
2 $129.38 $129.38 $0.00 $0.73 $259.49
3 $259.49 $129.38 $0.00 $1.47 $390.34
4 $390.34 $129.38 $0.00 $2.21 $521.93
5 $521.93 $129.38 $0.00 $2.95 $654.26
6 $654.26 $129.38 $0.00 $3.70 $787.34
7 $787.34 $129.38 $0.00 $4.45 $921.17
8 $921.17 $129.38 $0.00 $5.21 $1,055.76
9 $1,055.76 $129.38 $0.00 $5.97 $1,191.11
10 $1,191.11 $129.38 $0.00 $6.73 $1,327.22
11 $1,327.22 $129.38 $0.00 $7.50 $1,464.10
12 $1,464.10 $129.38 $0.00 $8.28 $1,601.76
13 $1,601.76 $129.38 $0.00 $9.06 $1,740.20
14 $1,740.20 $129.38 $0.00 $9.84 $1,879.42
15 $1,879.42 $129.38 $0.00 $10.63 $2,019.43
16 $2,019.43 $129.38 $0.00 $11.42 $2,160.23
17 $2,160.23 $129.38 $0.00 $12.21 $2,301.82
18 $2,301.82 $129.38 $0.00 $13.01 $2,444.21
19 $2,444.21 $129.38 $0.00 $13.82 $2,587.41
20 $2,587.41 $129.38 $0.00 $14.63 $2,731.42
21 $2,731.42 $129.38 $0.00 $15.44 $2,876.24
22 $2,876.24 $129.38 $0.00 $16.26 $3,021.88
23 $3,021.88 $129.38 $0.00 $17.09 $3,168.35
24 $3,168.35 $129.38 $0.00 $17.91 $3,315.64
25 $3,315.64 $129.38 $0.00 $18.75 $3,463.77
26 $3,463.77 $129.38 $0.00 $19.58 $3,612.73
27 $3,612.73 $129.38 $0.00 $20.43 $3,762.54
28 $3,762.54 $129.38 $0.00 $21.27 $3,913.19
29 $3,913.19 $129.38 $0.00 $22.13 $4,064.70
30 $4,064.70 $129.38 $0.00 $22.98 $4,217.06
31 $4,217.06 $129.38 $0.00 $23.84 $4,370.28
32 $4,370.28 $129.38 $0.00 $24.71 $4,524.37
33 $4,524.37 $129.38 $0.00 $25.58 $4,679.33
34 $4,679.33 $129.38 $0.00 $26.46 $4,835.17
35 $4,835.17 $129.38 $0.00 $27.34 $4,991.89
36 $4,991.89 $129.38 $0.00 $28.22 $5,149.49
37 $5,149.49 $129.38 $0.00 $29.12 $5,307.99
38 $5,307.99 $129.38 $0.00 $30.01 $5,467.38
39 $5,467.38 $129.38 $0.00 $30.91 $5,627.67
40 $5,627.67 $129.38 $0.00 $31.82 $5,788.87
41 $5,788.87 $129.38 $0.00 $32.73 $5,950.98
42 $5,950.98 $129.38 $0.00 $33.65 $6,114.01
43 $6,114.01 $129.38 $0.00 $34.57 $6,277.96
44 $6,277.96 $129.38 $0.00 $35.50 $6,442.84
45 $6,442.84 $129.38 $0.00 $36.43 $6,608.65
46 $6,608.65 $129.38 $0.00 $37.37 $6,775.40
47 $6,775.40 $129.38 $0.00 $38.31 $6,943.09
48 $6,943.09 $129.38 $0.00 $39.26 $7,111.73
49 $7,111.73 $129.38 $0.00 $40.21 $7,281.32
50 $7,281.32 $129.38 $0.00 $41.17 $7,451.87
51 $7,451.87 $129.38 $0.00 $42.13 $7,623.38
52 $7,623.38 $129.38 $0.00 $43.10 $7,795.86
53 $7,795.86 $129.38 $0.00 $44.08 $7,969.32
54 $7,969.32 $129.38 $0.00 $45.06 $8,143.76
55 $8,143.76 $129.38 $0.00 $46.05 $8,319.19
56 $8,319.19 $129.38 $0.00 $47.04 $8,495.61
57 $8,495.61 $129.38 $0.00 $48.04 $8,673.03
58 $8,673.03 $129.38 $0.00 $49.04 $8,851.45
59 $8,851.45 $129.38 $0.00 $50.05 $9,030.88
60 $9,030.88 $129.38 $0.00 $51.06 $9,211.32
61 $9,211.32 $129.38 $0.00 $52.08 $9,392.78
62 $9,392.78 $129.38 $0.00 $53.11 $9,575.27
63 $9,575.27 $129.38 $0.00 $54.14 $9,758.79
64 $9,758.79 $129.38 $0.00 $55.18 $9,943.35
65 $9,943.35 $129.38 $0.00 $56.22 $10,128.95
66 $10,128.95 $129.38 $0.00 $57.27 $10,315.60
67 $10,315.60 $129.38 $0.00 $58.33 $10,503.31
68 $10,503.31 $129.38 $0.00 $59.39 $10,692.08
69 $10,692.08 $129.38 $0.00 $60.45 $10,881.91
70 $10,881.91 $129.38 $0.00 $61.53 $11,072.82
71 $11,072.82 $129.38 $0.00 $62.61 $11,264.81
72 $11,264.81 $129.38 $0.00 $63.69 $11,457.88
73 $11,457.88 $129.38 $0.00 $64.78 $11,652.04
74 $11,652.04 $129.38 $0.00 $65.88 $11,847.30
75 $11,847.30 $129.38 $0.00 $66.99 $12,043.67
76 $12,043.67 $129.38 $0.00 $68.10 $12,241.15
77 $12,241.15 $129.38 $0.00 $69.21 $12,439.74
78 $12,439.74 $129.38 $0.00 $70.34 $12,639.46
79 $12,639.46 $129.38 $0.00 $71.47 $12,840.31
80 $12,840.31 $129.38 $0.00 $72.60 $13,042.29
81 $13,042.29 $129.38 $0.00 $73.74 $13,245.41
82 $13,245.41 $129.38 $0.00 $74.89 $13,449.68
83 $13,449.68 $129.38 $0.00 $76.05 $13,655.11
84 $13,655.11 $129.38 $0.00 $77.21 $13,861.70
85 $13,861.70 $129.38 $0.00 $78.38 $14,069.46
86 $14,069.46 $129.38 $0.00 $79.55 $14,278.39
87 $14,278.39 $129.38 $0.00 $80.73 $14,488.50
88 $14,488.50 $129.38 $0.00 $81.92 $14,699.80
89 $14,699.80 $129.38 $0.00 $83.11 $14,912.29
90 $14,912.29 $129.38 $0.00 $84.32 $15,125.99
91 $15,125.99 $129.38 $0.00 $85.52 $15,340.89
92 $15,340.89 $129.38 $0.00 $86.74 $15,557.01
93 $15,557.01 $129.38 $0.00 $87.96 $15,774.35
94 $15,774.35 $129.38 $0.00 $89.19 $15,992.92
95 $15,992.92 $129.38 $0.00 $90.43 $16,212.73
96 $16,212.73 $129.38 $0.00 $91.67 $16,433.78
97 $16,433.78 $129.38 $0.00 $92.92 $16,656.08
98 $16,656.08 $129.38 $0.00 $94.18 $16,879.64
99 $16,879.64 $129.38 $0.00 $95.44 $17,104.46
100 $17,104.46 $129.38 $0.00 $96.71 $17,330.55
101 $17,330.55 $129.38 $0.00 $97.99 $17,557.92
102 $17,557.92 $129.38 $0.00 $99.28 $17,786.58
103 $17,786.58 $129.38 $0.00 $100.57 $18,016.53
104 $18,016.53 $129.38 $0.00 $101.87 $18,247.78
105 $18,247.78 $129.38 $0.00 $103.18 $18,480.34
106 $18,480.34 $129.38 $0.00 $104.49 $18,714.21
107 $18,714.21 $129.38 $0.00 $105.81 $18,949.40
108 $18,949.40 $129.38 $0.00 $107.14 $19,185.92
109 $19,185.92 $129.38 $0.00 $108.48 $19,423.78
110 $19,423.78 $129.38 $0.00 $109.82 $19,662.98
111 $19,662.98 $129.38 $0.00 $111.18 $19,903.54
112 $19,903.54 $129.38 $0.00 $112.54 $20,145.46
113 $20,145.46 $129.38 $0.00 $113.91 $20,388.75
114 $20,388.75 $129.38 $0.00 $115.28 $20,633.41
115 $20,633.41 $129.38 $0.00 $116.66 $20,879.45
116 $20,879.45 $129.38 $0.00 $118.06 $21,126.89
117 $21,126.89 $129.38 $0.00 $119.45 $21,375.72
118 $21,375.72 $129.38 $0.00 $120.86 $21,625.96
119 $21,625.96 $129.38 $0.00 $122.28 $21,877.62
120 $21,877.62 $129.38 $0.00 $123.70 $22,130.70
121 $22,130.70 $129.38 $0.00 $125.13 $22,385.21
122 $22,385.21 $129.38 $0.00 $126.57 $22,641.16
123 $22,641.16 $129.38 $0.00 $128.02 $22,898.56
124 $22,898.56 $129.38 $0.00 $129.47 $23,157.41
125 $23,157.41 $129.38 $0.00 $130.94 $23,417.73
126 $23,417.73 $129.38 $0.00 $132.41 $23,679.52
127 $23,679.52 $129.38 $0.00 $133.89 $23,942.79
128 $23,942.79 $129.38 $0.00 $135.38 $24,207.55
129 $24,207.55 $129.38 $0.00 $136.87 $24,473.80
130 $24,473.80 $129.38 $0.00 $138.38 $24,741.56
131 $24,741.56 $129.38 $0.00 $139.89 $25,010.83
132 $25,010.83 $129.38 $0.00 $141.41 $25,281.62
133 $25,281.62 $129.38 $0.00 $142.95 $25,553.95
134 $25,553.95 $129.38 $0.00 $144.49 $25,827.82
135 $25,827.82 $129.38 $0.00 $146.03 $26,103.23
136 $26,103.23 $129.38 $0.00 $147.59 $26,380.20
137 $26,380.20 $129.38 $0.00 $149.16 $26,658.74
138 $26,658.74 $129.38 $0.00 $150.73 $26,938.85
139 $26,938.85 $129.38 $0.00 $152.32 $27,220.55
140 $27,220.55 $129.38 $0.00 $153.91 $27,503.84
141 $27,503.84 $129.38 $0.00 $155.51 $27,788.73
142 $27,788.73 $129.38 $0.00 $157.12 $28,075.23
143 $28,075.23 $129.38 $0.00 $158.74 $28,363.35
144 $28,363.35 $129.38 $0.00 $160.37 $28,653.10
145 $28,653.10 $129.38 $0.00 $162.01 $28,944.49
146 $28,944.49 $129.38 $0.00 $163.66 $29,237.53
147 $29,237.53 $129.38 $0.00 $165.31 $29,532.22
148 $29,532.22 $129.38 $0.00 $166.98 $29,828.58
149 $29,828.58 $129.38 $0.00 $168.66 $30,126.62
150 $30,126.62 $129.38 $0.00 $170.34 $30,426.34
151 $30,426.34 $129.38 $0.00 $172.03 $30,727.75
152 $30,727.75 $129.38 $0.00 $173.74 $31,030.87
153 $31,030.87 $129.38 $0.00 $175.45 $31,335.70
154 $31,335.70 $129.38 $0.00 $177.18 $31,642.26
155 $31,642.26 $129.38 $0.00 $178.91 $31,950.55
156 $31,950.55 $129.38 $0.00 $180.65 $32,260.58
157 $32,260.58 $129.38 $0.00 $182.41 $32,572.37
158 $32,572.37 $129.38 $0.00 $184.17 $32,885.92
159 $32,885.92 $129.38 $0.00 $185.94 $33,201.24
160 $33,201.24 $129.38 $0.00 $187.72 $33,518.34
161 $33,518.34 $129.38 $0.00 $189.52 $33,837.24
162 $33,837.24 $129.38 $0.00 $191.32 $34,157.94
163 $34,157.94 $129.38 $0.00 $193.13 $34,480.45
164 $34,480.45 $129.38 $0.00 $194.96 $34,804.79
165 $34,804.79 $129.38 $0.00 $196.79 $35,130.96
166 $35,130.96 $129.38 $0.00 $198.64 $35,458.98
167 $35,458.98 $129.38 $0.00 $200.49 $35,788.85
168 $35,788.85 $129.38 $0.00 $202.36 $36,120.59
169 $36,120.59 $129.38 $0.00 $204.23 $36,454.20
170 $36,454.20 $129.38 $0.00 $206.12 $36,789.70
171 $36,789.70 $129.38 $0.00 $208.01 $37,127.09
172 $37,127.09 $129.38 $0.00 $209.92 $37,466.39
173 $37,466.39 $129.38 $0.00 $211.84 $37,807.61
174 $37,807.61 $129.38 $0.00 $213.77 $38,150.76
175 $38,150.76 $129.38 $0.00 $215.71 $38,495.85
176 $38,495.85 $129.38 $0.00 $217.66 $38,842.89
177 $38,842.89 $129.38 $0.00 $219.62 $39,191.89
178 $39,191.89 $129.38 $0.00 $221.60 $39,542.87
179 $39,542.87 $129.38 $0.00 $223.58 $39,895.83
180 $39,895.83 $129.38 $0.00 $225.58 $40,250.79
181 $40,250.79 $129.38 $0.00 $227.58 $40,607.75
182 $40,607.75 $129.38 $0.00 $229.60 $40,966.73
183 $40,966.73 $129.38 $0.00 $231.63 $41,327.74
184 $41,327.74 $129.38 $0.00 $233.67 $41,690.79
185 $41,690.79 $129.38 $0.00 $235.73 $42,055.90
186 $42,055.90 $129.38 $0.00 $237.79 $42,423.07
187 $42,423.07 $129.38 $0.00 $239.87 $42,792.32
188 $42,792.32 $129.38 $0.00 $241.95 $43,163.65
189 $43,163.65 $129.38 $0.00 $244.05 $43,537.08
190 $43,537.08 $129.38 $0.00 $246.16 $43,912.62
191 $43,912.62 $129.38 $0.00 $248.29 $44,290.29
192 $44,290.29 $129.38 $0.00 $250.42 $44,670.09
193 $44,670.09 $129.38 $0.00 $252.57 $45,052.04
194 $45,052.04 $129.38 $0.00 $254.73 $45,436.15
195 $45,436.15 $129.38 $0.00 $256.90 $45,822.43
196 $45,822.43 $129.38 $0.00 $259.09 $46,210.90
197 $46,210.90 $129.38 $0.00 $261.28 $46,601.56
198 $46,601.56 $129.38 $0.00 $263.49 $46,994.43
199 $46,994.43 $129.38 $0.00 $265.71 $47,389.52
200 $47,389.52 $129.38 $0.00 $267.95 $47,786.85
201 $47,786.85 $129.38 $0.00 $270.19 $48,186.42
202 $48,186.42 $129.38 $0.00 $272.45 $48,588.25
203 $48,588.25 $129.38 $0.00 $274.73 $48,992.36
204 $48,992.36 $129.38 $0.00 $277.01 $49,398.75
205 $49,398.75 $129.38 $0.00 $279.31 $49,807.44
206 $49,807.44 $129.38 $0.00 $281.62 $50,218.44
207 $50,218.44 $129.38 $0.00 $283.94 $50,631.76
208 $50,631.76 $129.38 $0.00 $286.28 $51,047.42
209 $51,047.42 $129.38 $0.00 $288.63 $51,465.43
210 $51,465.43 $129.38 $0.00 $290.99 $51,885.80
211 $51,885.80 $129.38 $0.00 $293.37 $52,308.55
212 $52,308.55 $129.38 $0.00 $295.76 $52,733.69
213 $52,733.69 $129.38 $0.00 $298.16 $53,161.23
214 $53,161.23 $129.38 $0.00 $300.58 $53,591.19
215 $53,591.19 $129.38 $0.00 $303.01 $54,023.58
216 $54,023.58 $129.38 $0.00 $305.46 $54,458.42
217 $54,458.42 $129.38 $28,402.92 $307.92 $26,492.80
218 $26,492.80 $129.38 $0.00 $149.79 $26,771.97
219 $26,771.97 $129.38 $0.00 $151.37 $27,052.72
220 $27,052.72 $129.38 $0.00 $152.96 $27,335.06
221 $27,335.06 $129.38 $0.00 $154.56 $27,619.00
222 $27,619.00 $129.38 $0.00 $156.16 $27,904.54
223 $27,904.54 $129.38 $0.00 $157.78 $28,191.70
224 $28,191.70 $129.38 $0.00 $159.40 $28,480.48
225 $28,480.48 $129.38 $0.00 $161.03 $28,770.89
226 $28,770.89 $129.38 $0.00 $162.67 $29,062.94
227 $29,062.94 $129.38 $0.00 $164.33 $29,356.65
228 $29,356.65 $129.38 $0.00 $165.99 $29,652.02
229 $29,652.02 $0.00 $29,823.07 $167.66 ($3.39)