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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$42,942
Monthly savings required$191

How much will it cost to send your child to Northwestern Connecticut Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $85,883.58 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $190.84 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$17,408.00
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 $190.84 $0.00 $0.00 $190.84
2 $190.84 $190.84 $0.00 $1.08 $382.76
3 $382.76 $190.84 $0.00 $2.16 $575.76
4 $575.76 $190.84 $0.00 $3.26 $769.86
5 $769.86 $190.84 $0.00 $4.35 $965.05
6 $965.05 $190.84 $0.00 $5.46 $1,161.35
7 $1,161.35 $190.84 $0.00 $6.57 $1,358.76
8 $1,358.76 $190.84 $0.00 $7.68 $1,557.28
9 $1,557.28 $190.84 $0.00 $8.81 $1,756.93
10 $1,756.93 $190.84 $0.00 $9.93 $1,957.70
11 $1,957.70 $190.84 $0.00 $11.07 $2,159.61
12 $2,159.61 $190.84 $0.00 $12.21 $2,362.66
13 $2,362.66 $190.84 $0.00 $13.36 $2,566.86
14 $2,566.86 $190.84 $0.00 $14.51 $2,772.21
15 $2,772.21 $190.84 $0.00 $15.67 $2,978.72
16 $2,978.72 $190.84 $0.00 $16.84 $3,186.40
17 $3,186.40 $190.84 $0.00 $18.02 $3,395.26
18 $3,395.26 $190.84 $0.00 $19.20 $3,605.30
19 $3,605.30 $190.84 $0.00 $20.38 $3,816.52
20 $3,816.52 $190.84 $0.00 $21.58 $4,028.94
21 $4,028.94 $190.84 $0.00 $22.78 $4,242.56
22 $4,242.56 $190.84 $0.00 $23.99 $4,457.39
23 $4,457.39 $190.84 $0.00 $25.20 $4,673.43
24 $4,673.43 $190.84 $0.00 $26.42 $4,890.69
25 $4,890.69 $190.84 $0.00 $27.65 $5,109.18
26 $5,109.18 $190.84 $0.00 $28.89 $5,328.91
27 $5,328.91 $190.84 $0.00 $30.13 $5,549.88
28 $5,549.88 $190.84 $0.00 $31.38 $5,772.10
29 $5,772.10 $190.84 $0.00 $32.64 $5,995.58
30 $5,995.58 $190.84 $0.00 $33.90 $6,220.32
31 $6,220.32 $190.84 $0.00 $35.17 $6,446.33
32 $6,446.33 $190.84 $0.00 $36.45 $6,673.62
33 $6,673.62 $190.84 $0.00 $37.73 $6,902.19
34 $6,902.19 $190.84 $0.00 $39.03 $7,132.06
35 $7,132.06 $190.84 $0.00 $40.33 $7,363.23
36 $7,363.23 $190.84 $0.00 $41.63 $7,595.70
37 $7,595.70 $190.84 $0.00 $42.95 $7,829.49
38 $7,829.49 $190.84 $0.00 $44.27 $8,064.60
39 $8,064.60 $190.84 $0.00 $45.60 $8,301.04
40 $8,301.04 $190.84 $0.00 $46.94 $8,538.82
41 $8,538.82 $190.84 $0.00 $48.28 $8,777.94
42 $8,777.94 $190.84 $0.00 $49.63 $9,018.41
43 $9,018.41 $190.84 $0.00 $50.99 $9,260.24
44 $9,260.24 $190.84 $0.00 $52.36 $9,503.44
45 $9,503.44 $190.84 $0.00 $53.73 $9,748.01
46 $9,748.01 $190.84 $0.00 $55.12 $9,993.97
47 $9,993.97 $190.84 $0.00 $56.51 $10,241.32
48 $10,241.32 $190.84 $0.00 $57.91 $10,490.07
49 $10,490.07 $190.84 $0.00 $59.31 $10,740.22
50 $10,740.22 $190.84 $0.00 $60.73 $10,991.79
51 $10,991.79 $190.84 $0.00 $62.15 $11,244.78
52 $11,244.78 $190.84 $0.00 $63.58 $11,499.20
53 $11,499.20 $190.84 $0.00 $65.02 $11,755.06
54 $11,755.06 $190.84 $0.00 $66.46 $12,012.36
55 $12,012.36 $190.84 $0.00 $67.92 $12,271.12
56 $12,271.12 $190.84 $0.00 $69.38 $12,531.34
57 $12,531.34 $190.84 $0.00 $70.85 $12,793.03
58 $12,793.03 $190.84 $0.00 $72.33 $13,056.20
59 $13,056.20 $190.84 $0.00 $73.82 $13,320.86
60 $13,320.86 $190.84 $0.00 $75.32 $13,587.02
61 $13,587.02 $190.84 $0.00 $76.82 $13,854.68
62 $13,854.68 $190.84 $0.00 $78.34 $14,123.86
63 $14,123.86 $190.84 $0.00 $79.86 $14,394.56
64 $14,394.56 $190.84 $0.00 $81.39 $14,666.79
65 $14,666.79 $190.84 $0.00 $82.93 $14,940.56
66 $14,940.56 $190.84 $0.00 $84.48 $15,215.88
67 $15,215.88 $190.84 $0.00 $86.03 $15,492.75
68 $15,492.75 $190.84 $0.00 $87.60 $15,771.19
69 $15,771.19 $190.84 $0.00 $89.17 $16,051.20
70 $16,051.20 $190.84 $0.00 $90.76 $16,332.80
71 $16,332.80 $190.84 $0.00 $92.35 $16,615.99
72 $16,615.99 $190.84 $0.00 $93.95 $16,900.78
73 $16,900.78 $190.84 $0.00 $95.56 $17,187.18
74 $17,187.18 $190.84 $0.00 $97.18 $17,475.20
75 $17,475.20 $190.84 $0.00 $98.81 $17,764.85
76 $17,764.85 $190.84 $0.00 $100.45 $18,056.14
77 $18,056.14 $190.84 $0.00 $102.09 $18,349.07
78 $18,349.07 $190.84 $0.00 $103.75 $18,643.66
79 $18,643.66 $190.84 $0.00 $105.41 $18,939.91
80 $18,939.91 $190.84 $0.00 $107.09 $19,237.84
81 $19,237.84 $190.84 $0.00 $108.77 $19,537.45
82 $19,537.45 $190.84 $0.00 $110.47 $19,838.76
83 $19,838.76 $190.84 $0.00 $112.17 $20,141.77
84 $20,141.77 $190.84 $0.00 $113.88 $20,446.49
85 $20,446.49 $190.84 $0.00 $115.61 $20,752.94
86 $20,752.94 $190.84 $0.00 $117.34 $21,061.12
87 $21,061.12 $190.84 $0.00 $119.08 $21,371.04
88 $21,371.04 $190.84 $0.00 $120.83 $21,682.71
89 $21,682.71 $190.84 $0.00 $122.60 $21,996.15
90 $21,996.15 $190.84 $0.00 $124.37 $22,311.36
91 $22,311.36 $190.84 $0.00 $126.15 $22,628.35
92 $22,628.35 $190.84 $0.00 $127.94 $22,947.13
93 $22,947.13 $190.84 $0.00 $129.75 $23,267.72
94 $23,267.72 $190.84 $0.00 $131.56 $23,590.12
95 $23,590.12 $190.84 $0.00 $133.38 $23,914.34
96 $23,914.34 $190.84 $0.00 $135.22 $24,240.40
97 $24,240.40 $190.84 $0.00 $137.06 $24,568.30
98 $24,568.30 $190.84 $0.00 $138.91 $24,898.05
99 $24,898.05 $190.84 $0.00 $140.78 $25,229.67
100 $25,229.67 $190.84 $0.00 $142.65 $25,563.16
101 $25,563.16 $190.84 $0.00 $144.54 $25,898.54
102 $25,898.54 $190.84 $0.00 $146.43 $26,235.81
103 $26,235.81 $190.84 $0.00 $148.34 $26,574.99
104 $26,574.99 $190.84 $0.00 $150.26 $26,916.09
105 $26,916.09 $190.84 $0.00 $152.19 $27,259.12
106 $27,259.12 $190.84 $0.00 $154.13 $27,604.09
107 $27,604.09 $190.84 $0.00 $156.08 $27,951.01
108 $27,951.01 $190.84 $0.00 $158.04 $28,299.89
109 $28,299.89 $190.84 $0.00 $160.01 $28,650.74
110 $28,650.74 $190.84 $0.00 $162.00 $29,003.58
111 $29,003.58 $190.84 $0.00 $163.99 $29,358.41
112 $29,358.41 $190.84 $0.00 $166.00 $29,715.25
113 $29,715.25 $190.84 $0.00 $168.01 $30,074.10
114 $30,074.10 $190.84 $0.00 $170.04 $30,434.98
115 $30,434.98 $190.84 $0.00 $172.08 $30,797.90
116 $30,797.90 $190.84 $0.00 $174.14 $31,162.88
117 $31,162.88 $190.84 $0.00 $176.20 $31,529.92
118 $31,529.92 $190.84 $0.00 $178.27 $31,899.03
119 $31,899.03 $190.84 $0.00 $180.36 $32,270.23
120 $32,270.23 $190.84 $0.00 $182.46 $32,643.53
121 $32,643.53 $190.84 $0.00 $184.57 $33,018.94
122 $33,018.94 $190.84 $0.00 $186.69 $33,396.47
123 $33,396.47 $190.84 $0.00 $188.83 $33,776.14
124 $33,776.14 $190.84 $0.00 $190.98 $34,157.96
125 $34,157.96 $190.84 $0.00 $193.13 $34,541.93
126 $34,541.93 $190.84 $0.00 $195.31 $34,928.08
127 $34,928.08 $190.84 $0.00 $197.49 $35,316.41
128 $35,316.41 $190.84 $0.00 $199.68 $35,706.93
129 $35,706.93 $190.84 $0.00 $201.89 $36,099.66
130 $36,099.66 $190.84 $0.00 $204.11 $36,494.61
131 $36,494.61 $190.84 $0.00 $206.35 $36,891.80
132 $36,891.80 $190.84 $0.00 $208.59 $37,291.23
133 $37,291.23 $190.84 $0.00 $210.85 $37,692.92
134 $37,692.92 $190.84 $0.00 $213.12 $38,096.88
135 $38,096.88 $190.84 $0.00 $215.41 $38,503.13
136 $38,503.13 $190.84 $0.00 $217.70 $38,911.67
137 $38,911.67 $190.84 $0.00 $220.01 $39,322.52
138 $39,322.52 $190.84 $0.00 $222.34 $39,735.70
139 $39,735.70 $190.84 $0.00 $224.67 $40,151.21
140 $40,151.21 $190.84 $0.00 $227.02 $40,569.07
141 $40,569.07 $190.84 $0.00 $229.38 $40,989.29
142 $40,989.29 $190.84 $0.00 $231.76 $41,411.89
143 $41,411.89 $190.84 $0.00 $234.15 $41,836.88
144 $41,836.88 $190.84 $0.00 $236.55 $42,264.27
145 $42,264.27 $190.84 $0.00 $238.97 $42,694.08
146 $42,694.08 $190.84 $0.00 $241.40 $43,126.32
147 $43,126.32 $190.84 $0.00 $243.84 $43,561.00
148 $43,561.00 $190.84 $0.00 $246.30 $43,998.14
149 $43,998.14 $190.84 $0.00 $248.77 $44,437.75
150 $44,437.75 $190.84 $0.00 $251.26 $44,879.85
151 $44,879.85 $190.84 $0.00 $253.76 $45,324.45
152 $45,324.45 $190.84 $0.00 $256.27 $45,771.56
153 $45,771.56 $190.84 $0.00 $258.80 $46,221.20
154 $46,221.20 $190.84 $0.00 $261.34 $46,673.38
155 $46,673.38 $190.84 $0.00 $263.90 $47,128.12
156 $47,128.12 $190.84 $0.00 $266.47 $47,585.43
157 $47,585.43 $190.84 $0.00 $269.05 $48,045.32
158 $48,045.32 $190.84 $0.00 $271.66 $48,507.82
159 $48,507.82 $190.84 $0.00 $274.27 $48,972.93
160 $48,972.93 $190.84 $0.00 $276.90 $49,440.67
161 $49,440.67 $190.84 $0.00 $279.54 $49,911.05
162 $49,911.05 $190.84 $0.00 $282.20 $50,384.09
163 $50,384.09 $190.84 $0.00 $284.88 $50,859.81
164 $50,859.81 $190.84 $0.00 $287.57 $51,338.22
165 $51,338.22 $190.84 $0.00 $290.27 $51,819.33
166 $51,819.33 $190.84 $0.00 $292.99 $52,303.16
167 $52,303.16 $190.84 $0.00 $295.73 $52,789.73
168 $52,789.73 $190.84 $0.00 $298.48 $53,279.05
169 $53,279.05 $190.84 $0.00 $301.25 $53,771.14
170 $53,771.14 $190.84 $0.00 $304.03 $54,266.01
171 $54,266.01 $190.84 $0.00 $306.83 $54,763.68
172 $54,763.68 $190.84 $0.00 $309.64 $55,264.16
173 $55,264.16 $190.84 $0.00 $312.47 $55,767.47
174 $55,767.47 $190.84 $0.00 $315.32 $56,273.63
175 $56,273.63 $190.84 $0.00 $318.18 $56,782.65
176 $56,782.65 $190.84 $0.00 $321.06 $57,294.55
177 $57,294.55 $190.84 $0.00 $323.95 $57,809.34
178 $57,809.34 $190.84 $0.00 $326.86 $58,327.04
179 $58,327.04 $190.84 $0.00 $329.79 $58,847.67
180 $58,847.67 $190.84 $0.00 $332.73 $59,371.24
181 $59,371.24 $190.84 $0.00 $335.69 $59,897.77
182 $59,897.77 $190.84 $0.00 $338.67 $60,427.28
183 $60,427.28 $190.84 $0.00 $341.66 $60,959.78
184 $60,959.78 $190.84 $0.00 $344.68 $61,495.30
185 $61,495.30 $190.84 $0.00 $347.70 $62,033.84
186 $62,033.84 $190.84 $0.00 $350.75 $62,575.43
187 $62,575.43 $190.84 $0.00 $353.81 $63,120.08
188 $63,120.08 $190.84 $0.00 $356.89 $63,667.81
189 $63,667.81 $190.84 $0.00 $359.99 $64,218.64
190 $64,218.64 $190.84 $0.00 $363.10 $64,772.58
191 $64,772.58 $190.84 $0.00 $366.23 $65,329.65
192 $65,329.65 $190.84 $0.00 $369.38 $65,889.87
193 $65,889.87 $190.84 $0.00 $372.55 $66,453.26
194 $66,453.26 $190.84 $0.00 $375.74 $67,019.84
195 $67,019.84 $190.84 $0.00 $378.94 $67,589.62
196 $67,589.62 $190.84 $0.00 $382.16 $68,162.62
197 $68,162.62 $190.84 $0.00 $385.40 $68,738.86
198 $68,738.86 $190.84 $0.00 $388.66 $69,318.36
199 $69,318.36 $190.84 $0.00 $391.94 $69,901.14
200 $69,901.14 $190.84 $0.00 $395.23 $70,487.21
201 $70,487.21 $190.84 $0.00 $398.54 $71,076.59
202 $71,076.59 $190.84 $0.00 $401.88 $71,669.31
203 $71,669.31 $190.84 $0.00 $405.23 $72,265.38
204 $72,265.38 $190.84 $0.00 $408.60 $72,864.82
205 $72,864.82 $190.84 $0.00 $411.99 $73,467.65
206 $73,467.65 $190.84 $0.00 $415.40 $74,073.89
207 $74,073.89 $190.84 $0.00 $418.82 $74,683.55
208 $74,683.55 $190.84 $0.00 $422.27 $75,296.66
209 $75,296.66 $190.84 $0.00 $425.74 $75,913.24
210 $75,913.24 $190.84 $0.00 $429.22 $76,533.30
211 $76,533.30 $190.84 $0.00 $432.73 $77,156.87
212 $77,156.87 $190.84 $0.00 $436.26 $77,783.97
213 $77,783.97 $190.84 $0.00 $439.80 $78,414.61
214 $78,414.61 $190.84 $0.00 $443.37 $79,048.82
215 $79,048.82 $190.84 $0.00 $446.95 $79,686.61
216 $79,686.61 $190.84 $0.00 $450.56 $80,328.01
217 $80,328.01 $190.84 $41,894.43 $454.19 $39,078.61
218 $39,078.61 $190.84 $0.00 $220.96 $39,490.41
219 $39,490.41 $190.84 $0.00 $223.28 $39,904.53
220 $39,904.53 $190.84 $0.00 $225.63 $40,321.00
221 $40,321.00 $190.84 $0.00 $227.98 $40,739.82
222 $40,739.82 $190.84 $0.00 $230.35 $41,161.01
223 $41,161.01 $190.84 $0.00 $232.73 $41,584.58
224 $41,584.58 $190.84 $0.00 $235.13 $42,010.55
225 $42,010.55 $190.84 $0.00 $237.53 $42,438.92
226 $42,438.92 $190.84 $0.00 $239.96 $42,869.72
227 $42,869.72 $190.84 $0.00 $242.39 $43,302.95
228 $43,302.95 $190.84 $0.00 $244.84 $43,738.63
229 $43,738.63 $0.00 $43,989.15 $247.30 ($3.22)