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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$56,679
Monthly savings required$252

How much will it cost to send your child to Red Rocks Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $113,358.62 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $251.90 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$22,977.00
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 $251.90 $0.00 $0.00 $251.90
2 $251.90 $251.90 $0.00 $1.42 $505.22
3 $505.22 $251.90 $0.00 $2.86 $759.98
4 $759.98 $251.90 $0.00 $4.30 $1,016.18
5 $1,016.18 $251.90 $0.00 $5.75 $1,273.83
6 $1,273.83 $251.90 $0.00 $7.20 $1,532.93
7 $1,532.93 $251.90 $0.00 $8.67 $1,793.50
8 $1,793.50 $251.90 $0.00 $10.14 $2,055.54
9 $2,055.54 $251.90 $0.00 $11.62 $2,319.06
10 $2,319.06 $251.90 $0.00 $13.11 $2,584.07
11 $2,584.07 $251.90 $0.00 $14.61 $2,850.58
12 $2,850.58 $251.90 $0.00 $16.12 $3,118.60
13 $3,118.60 $251.90 $0.00 $17.63 $3,388.13
14 $3,388.13 $251.90 $0.00 $19.16 $3,659.19
15 $3,659.19 $251.90 $0.00 $20.69 $3,931.78
16 $3,931.78 $251.90 $0.00 $22.23 $4,205.91
17 $4,205.91 $251.90 $0.00 $23.78 $4,481.59
18 $4,481.59 $251.90 $0.00 $25.34 $4,758.83
19 $4,758.83 $251.90 $0.00 $26.91 $5,037.64
20 $5,037.64 $251.90 $0.00 $28.48 $5,318.02
21 $5,318.02 $251.90 $0.00 $30.07 $5,599.99
22 $5,599.99 $251.90 $0.00 $31.66 $5,883.55
23 $5,883.55 $251.90 $0.00 $33.27 $6,168.72
24 $6,168.72 $251.90 $0.00 $34.88 $6,455.50
25 $6,455.50 $251.90 $0.00 $36.50 $6,743.90
26 $6,743.90 $251.90 $0.00 $38.13 $7,033.93
27 $7,033.93 $251.90 $0.00 $39.77 $7,325.60
28 $7,325.60 $251.90 $0.00 $41.42 $7,618.92
29 $7,618.92 $251.90 $0.00 $43.08 $7,913.90
30 $7,913.90 $251.90 $0.00 $44.75 $8,210.55
31 $8,210.55 $251.90 $0.00 $46.42 $8,508.87
32 $8,508.87 $251.90 $0.00 $48.11 $8,808.88
33 $8,808.88 $251.90 $0.00 $49.81 $9,110.59
34 $9,110.59 $251.90 $0.00 $51.51 $9,414.00
35 $9,414.00 $251.90 $0.00 $53.23 $9,719.13
36 $9,719.13 $251.90 $0.00 $54.95 $10,025.98
37 $10,025.98 $251.90 $0.00 $56.69 $10,334.57
38 $10,334.57 $251.90 $0.00 $58.43 $10,644.90
39 $10,644.90 $251.90 $0.00 $60.19 $10,956.99
40 $10,956.99 $251.90 $0.00 $61.95 $11,270.84
41 $11,270.84 $251.90 $0.00 $63.73 $11,586.47
42 $11,586.47 $251.90 $0.00 $65.51 $11,903.88
43 $11,903.88 $251.90 $0.00 $67.31 $12,223.09
44 $12,223.09 $251.90 $0.00 $69.11 $12,544.10
45 $12,544.10 $251.90 $0.00 $70.93 $12,866.93
46 $12,866.93 $251.90 $0.00 $72.75 $13,191.58
47 $13,191.58 $251.90 $0.00 $74.59 $13,518.07
48 $13,518.07 $251.90 $0.00 $76.43 $13,846.40
49 $13,846.40 $251.90 $0.00 $78.29 $14,176.59
50 $14,176.59 $251.90 $0.00 $80.16 $14,508.65
51 $14,508.65 $251.90 $0.00 $82.03 $14,842.58
52 $14,842.58 $251.90 $0.00 $83.92 $15,178.40
53 $15,178.40 $251.90 $0.00 $85.82 $15,516.12
54 $15,516.12 $251.90 $0.00 $87.73 $15,855.75
55 $15,855.75 $251.90 $0.00 $89.65 $16,197.30
56 $16,197.30 $251.90 $0.00 $91.58 $16,540.78
57 $16,540.78 $251.90 $0.00 $93.52 $16,886.20
58 $16,886.20 $251.90 $0.00 $95.48 $17,233.58
59 $17,233.58 $251.90 $0.00 $97.44 $17,582.92
60 $17,582.92 $251.90 $0.00 $99.42 $17,934.24
61 $17,934.24 $251.90 $0.00 $101.40 $18,287.54
62 $18,287.54 $251.90 $0.00 $103.40 $18,642.84
63 $18,642.84 $251.90 $0.00 $105.41 $19,000.15
64 $19,000.15 $251.90 $0.00 $107.43 $19,359.48
65 $19,359.48 $251.90 $0.00 $109.46 $19,720.84
66 $19,720.84 $251.90 $0.00 $111.50 $20,084.24
67 $20,084.24 $251.90 $0.00 $113.56 $20,449.70
68 $20,449.70 $251.90 $0.00 $115.63 $20,817.23
69 $20,817.23 $251.90 $0.00 $117.70 $21,186.83
70 $21,186.83 $251.90 $0.00 $119.79 $21,558.52
71 $21,558.52 $251.90 $0.00 $121.90 $21,932.32
72 $21,932.32 $251.90 $0.00 $124.01 $22,308.23
73 $22,308.23 $251.90 $0.00 $126.13 $22,686.26
74 $22,686.26 $251.90 $0.00 $128.27 $23,066.43
75 $23,066.43 $251.90 $0.00 $130.42 $23,448.75
76 $23,448.75 $251.90 $0.00 $132.58 $23,833.23
77 $23,833.23 $251.90 $0.00 $134.76 $24,219.89
78 $24,219.89 $251.90 $0.00 $136.94 $24,608.73
79 $24,608.73 $251.90 $0.00 $139.14 $24,999.77
80 $24,999.77 $251.90 $0.00 $141.35 $25,393.02
81 $25,393.02 $251.90 $0.00 $143.58 $25,788.50
82 $25,788.50 $251.90 $0.00 $145.81 $26,186.21
83 $26,186.21 $251.90 $0.00 $148.06 $26,586.17
84 $26,586.17 $251.90 $0.00 $150.32 $26,988.39
85 $26,988.39 $251.90 $0.00 $152.60 $27,392.89
86 $27,392.89 $251.90 $0.00 $154.88 $27,799.67
87 $27,799.67 $251.90 $0.00 $157.18 $28,208.75
88 $28,208.75 $251.90 $0.00 $159.50 $28,620.15
89 $28,620.15 $251.90 $0.00 $161.82 $29,033.87
90 $29,033.87 $251.90 $0.00 $164.16 $29,449.93
91 $29,449.93 $251.90 $0.00 $166.51 $29,868.34
92 $29,868.34 $251.90 $0.00 $168.88 $30,289.12
93 $30,289.12 $251.90 $0.00 $171.26 $30,712.28
94 $30,712.28 $251.90 $0.00 $173.65 $31,137.83
95 $31,137.83 $251.90 $0.00 $176.06 $31,565.79
96 $31,565.79 $251.90 $0.00 $178.48 $31,996.17
97 $31,996.17 $251.90 $0.00 $180.91 $32,428.98
98 $32,428.98 $251.90 $0.00 $183.36 $32,864.24
99 $32,864.24 $251.90 $0.00 $185.82 $33,301.96
100 $33,301.96 $251.90 $0.00 $188.29 $33,742.15
101 $33,742.15 $251.90 $0.00 $190.78 $34,184.83
102 $34,184.83 $251.90 $0.00 $193.29 $34,630.02
103 $34,630.02 $251.90 $0.00 $195.80 $35,077.72
104 $35,077.72 $251.90 $0.00 $198.33 $35,527.95
105 $35,527.95 $251.90 $0.00 $200.88 $35,980.73
106 $35,980.73 $251.90 $0.00 $203.44 $36,436.07
107 $36,436.07 $251.90 $0.00 $206.01 $36,893.98
108 $36,893.98 $251.90 $0.00 $208.60 $37,354.48
109 $37,354.48 $251.90 $0.00 $211.21 $37,817.59
110 $37,817.59 $251.90 $0.00 $213.83 $38,283.32
111 $38,283.32 $251.90 $0.00 $216.46 $38,751.68
112 $38,751.68 $251.90 $0.00 $219.11 $39,222.69
113 $39,222.69 $251.90 $0.00 $221.77 $39,696.36
114 $39,696.36 $251.90 $0.00 $224.45 $40,172.71
115 $40,172.71 $251.90 $0.00 $227.14 $40,651.75
116 $40,651.75 $251.90 $0.00 $229.85 $41,133.50
117 $41,133.50 $251.90 $0.00 $232.57 $41,617.97
118 $41,617.97 $251.90 $0.00 $235.31 $42,105.18
119 $42,105.18 $251.90 $0.00 $238.07 $42,595.15
120 $42,595.15 $251.90 $0.00 $240.84 $43,087.89
121 $43,087.89 $251.90 $0.00 $243.63 $43,583.42
122 $43,583.42 $251.90 $0.00 $246.43 $44,081.75
123 $44,081.75 $251.90 $0.00 $249.24 $44,582.89
124 $44,582.89 $251.90 $0.00 $252.08 $45,086.87
125 $45,086.87 $251.90 $0.00 $254.93 $45,593.70
126 $45,593.70 $251.90 $0.00 $257.79 $46,103.39
127 $46,103.39 $251.90 $0.00 $260.68 $46,615.97
128 $46,615.97 $251.90 $0.00 $263.57 $47,131.44
129 $47,131.44 $251.90 $0.00 $266.49 $47,649.83
130 $47,649.83 $251.90 $0.00 $269.42 $48,171.15
131 $48,171.15 $251.90 $0.00 $272.37 $48,695.42
132 $48,695.42 $251.90 $0.00 $275.33 $49,222.65
133 $49,222.65 $251.90 $0.00 $278.31 $49,752.86
134 $49,752.86 $251.90 $0.00 $281.31 $50,286.07
135 $50,286.07 $251.90 $0.00 $284.32 $50,822.29
136 $50,822.29 $251.90 $0.00 $287.36 $51,361.55
137 $51,361.55 $251.90 $0.00 $290.41 $51,903.86
138 $51,903.86 $251.90 $0.00 $293.47 $52,449.23
139 $52,449.23 $251.90 $0.00 $296.56 $52,997.69
140 $52,997.69 $251.90 $0.00 $299.66 $53,549.25
141 $53,549.25 $251.90 $0.00 $302.78 $54,103.93
142 $54,103.93 $251.90 $0.00 $305.91 $54,661.74
143 $54,661.74 $251.90 $0.00 $309.07 $55,222.71
144 $55,222.71 $251.90 $0.00 $312.24 $55,786.85
145 $55,786.85 $251.90 $0.00 $315.43 $56,354.18
146 $56,354.18 $251.90 $0.00 $318.63 $56,924.71
147 $56,924.71 $251.90 $0.00 $321.86 $57,498.47
148 $57,498.47 $251.90 $0.00 $325.10 $58,075.47
149 $58,075.47 $251.90 $0.00 $328.37 $58,655.74
150 $58,655.74 $251.90 $0.00 $331.65 $59,239.29
151 $59,239.29 $251.90 $0.00 $334.95 $59,826.14
152 $59,826.14 $251.90 $0.00 $338.27 $60,416.31
153 $60,416.31 $251.90 $0.00 $341.60 $61,009.81
154 $61,009.81 $251.90 $0.00 $344.96 $61,606.67
155 $61,606.67 $251.90 $0.00 $348.33 $62,206.90
156 $62,206.90 $251.90 $0.00 $351.73 $62,810.53
157 $62,810.53 $251.90 $0.00 $355.14 $63,417.57
158 $63,417.57 $251.90 $0.00 $358.57 $64,028.04
159 $64,028.04 $251.90 $0.00 $362.02 $64,641.96
160 $64,641.96 $251.90 $0.00 $365.50 $65,259.36
161 $65,259.36 $251.90 $0.00 $368.99 $65,880.25
162 $65,880.25 $251.90 $0.00 $372.50 $66,504.65
163 $66,504.65 $251.90 $0.00 $376.03 $67,132.58
164 $67,132.58 $251.90 $0.00 $379.58 $67,764.06
165 $67,764.06 $251.90 $0.00 $383.15 $68,399.11
166 $68,399.11 $251.90 $0.00 $386.74 $69,037.75
167 $69,037.75 $251.90 $0.00 $390.35 $69,680.00
168 $69,680.00 $251.90 $0.00 $393.98 $70,325.88
169 $70,325.88 $251.90 $0.00 $397.63 $70,975.41
170 $70,975.41 $251.90 $0.00 $401.31 $71,628.62
171 $71,628.62 $251.90 $0.00 $405.00 $72,285.52
172 $72,285.52 $251.90 $0.00 $408.71 $72,946.13
173 $72,946.13 $251.90 $0.00 $412.45 $73,610.48
174 $73,610.48 $251.90 $0.00 $416.20 $74,278.58
175 $74,278.58 $251.90 $0.00 $419.98 $74,950.46
176 $74,950.46 $251.90 $0.00 $423.78 $75,626.14
177 $75,626.14 $251.90 $0.00 $427.60 $76,305.64
178 $76,305.64 $251.90 $0.00 $431.44 $76,988.98
179 $76,988.98 $251.90 $0.00 $435.31 $77,676.19
180 $77,676.19 $251.90 $0.00 $439.19 $78,367.28
181 $78,367.28 $251.90 $0.00 $443.10 $79,062.28
182 $79,062.28 $251.90 $0.00 $447.03 $79,761.21
183 $79,761.21 $251.90 $0.00 $450.98 $80,464.09
184 $80,464.09 $251.90 $0.00 $454.96 $81,170.95
185 $81,170.95 $251.90 $0.00 $458.95 $81,881.80
186 $81,881.80 $251.90 $0.00 $462.97 $82,596.67
187 $82,596.67 $251.90 $0.00 $467.01 $83,315.58
188 $83,315.58 $251.90 $0.00 $471.08 $84,038.56
189 $84,038.56 $251.90 $0.00 $475.17 $84,765.63
190 $84,765.63 $251.90 $0.00 $479.28 $85,496.81
191 $85,496.81 $251.90 $0.00 $483.41 $86,232.12
192 $86,232.12 $251.90 $0.00 $487.57 $86,971.59
193 $86,971.59 $251.90 $0.00 $491.75 $87,715.24
194 $87,715.24 $251.90 $0.00 $495.95 $88,463.09
195 $88,463.09 $251.90 $0.00 $500.18 $89,215.17
196 $89,215.17 $251.90 $0.00 $504.44 $89,971.51
197 $89,971.51 $251.90 $0.00 $508.71 $90,732.12
198 $90,732.12 $251.90 $0.00 $513.01 $91,497.03
199 $91,497.03 $251.90 $0.00 $517.34 $92,266.27
200 $92,266.27 $251.90 $0.00 $521.69 $93,039.86
201 $93,039.86 $251.90 $0.00 $526.06 $93,817.82
202 $93,817.82 $251.90 $0.00 $530.46 $94,600.18
203 $94,600.18 $251.90 $0.00 $534.88 $95,386.96
204 $95,386.96 $251.90 $0.00 $539.33 $96,178.19
205 $96,178.19 $251.90 $0.00 $543.81 $96,973.90
206 $96,973.90 $251.90 $0.00 $548.30 $97,774.10
207 $97,774.10 $251.90 $0.00 $552.83 $98,578.83
208 $98,578.83 $251.90 $0.00 $557.38 $99,388.11
209 $99,388.11 $251.90 $0.00 $561.95 $100,201.96
210 $100,201.96 $251.90 $0.00 $566.56 $101,020.42
211 $101,020.42 $251.90 $0.00 $571.18 $101,843.50
212 $101,843.50 $251.90 $0.00 $575.84 $102,671.24
213 $102,671.24 $251.90 $0.00 $580.52 $103,503.66
214 $103,503.66 $251.90 $0.00 $585.22 $104,340.78
215 $104,340.78 $251.90 $0.00 $589.96 $105,182.64
216 $105,182.64 $251.90 $0.00 $594.72 $106,029.26
217 $106,029.26 $251.90 $55,296.89 $599.50 $51,583.77
218 $51,583.77 $251.90 $0.00 $291.66 $52,127.33
219 $52,127.33 $251.90 $0.00 $294.74 $52,673.97
220 $52,673.97 $251.90 $0.00 $297.83 $53,223.70
221 $53,223.70 $251.90 $0.00 $300.93 $53,776.53
222 $53,776.53 $251.90 $0.00 $304.06 $54,332.49
223 $54,332.49 $251.90 $0.00 $307.20 $54,891.59
224 $54,891.59 $251.90 $0.00 $310.37 $55,453.86
225 $55,453.86 $251.90 $0.00 $313.54 $56,019.30
226 $56,019.30 $251.90 $0.00 $316.74 $56,587.94
227 $56,587.94 $251.90 $0.00 $319.96 $57,159.80
228 $57,159.80 $251.90 $0.00 $323.19 $57,734.89
229 $57,734.89 $0.00 $58,061.73 $326.44 ($0.40)