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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$22,946
Monthly savings required$102

How much will it cost to send your child to Southwest Georgia Technical College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $45,892.06 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $101.99 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$9,302.00
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 $101.99 $0.00 $0.00 $101.99
2 $101.99 $101.99 $0.00 $0.58 $204.56
3 $204.56 $101.99 $0.00 $1.16 $307.71
4 $307.71 $101.99 $0.00 $1.74 $411.44
5 $411.44 $101.99 $0.00 $2.33 $515.76
6 $515.76 $101.99 $0.00 $2.92 $620.67
7 $620.67 $101.99 $0.00 $3.51 $726.17
8 $726.17 $101.99 $0.00 $4.11 $832.27
9 $832.27 $101.99 $0.00 $4.71 $938.97
10 $938.97 $101.99 $0.00 $5.31 $1,046.27
11 $1,046.27 $101.99 $0.00 $5.92 $1,154.18
12 $1,154.18 $101.99 $0.00 $6.53 $1,262.70
13 $1,262.70 $101.99 $0.00 $7.14 $1,371.83
14 $1,371.83 $101.99 $0.00 $7.76 $1,481.58
15 $1,481.58 $101.99 $0.00 $8.38 $1,591.95
16 $1,591.95 $101.99 $0.00 $9.00 $1,702.94
17 $1,702.94 $101.99 $0.00 $9.63 $1,814.56
18 $1,814.56 $101.99 $0.00 $10.26 $1,926.81
19 $1,926.81 $101.99 $0.00 $10.89 $2,039.69
20 $2,039.69 $101.99 $0.00 $11.53 $2,153.21
21 $2,153.21 $101.99 $0.00 $12.17 $2,267.37
22 $2,267.37 $101.99 $0.00 $12.82 $2,382.18
23 $2,382.18 $101.99 $0.00 $13.47 $2,497.64
24 $2,497.64 $101.99 $0.00 $14.12 $2,613.75
25 $2,613.75 $101.99 $0.00 $14.78 $2,730.52
26 $2,730.52 $101.99 $0.00 $15.44 $2,847.95
27 $2,847.95 $101.99 $0.00 $16.10 $2,966.04
28 $2,966.04 $101.99 $0.00 $16.77 $3,084.80
29 $3,084.80 $101.99 $0.00 $17.44 $3,204.23
30 $3,204.23 $101.99 $0.00 $18.12 $3,324.34
31 $3,324.34 $101.99 $0.00 $18.80 $3,445.13
32 $3,445.13 $101.99 $0.00 $19.48 $3,566.60
33 $3,566.60 $101.99 $0.00 $20.17 $3,688.76
34 $3,688.76 $101.99 $0.00 $20.86 $3,811.61
35 $3,811.61 $101.99 $0.00 $21.55 $3,935.15
36 $3,935.15 $101.99 $0.00 $22.25 $4,059.39
37 $4,059.39 $101.99 $0.00 $22.95 $4,184.33
38 $4,184.33 $101.99 $0.00 $23.66 $4,309.98
39 $4,309.98 $101.99 $0.00 $24.37 $4,436.34
40 $4,436.34 $101.99 $0.00 $25.08 $4,563.41
41 $4,563.41 $101.99 $0.00 $25.80 $4,691.20
42 $4,691.20 $101.99 $0.00 $26.52 $4,819.71
43 $4,819.71 $101.99 $0.00 $27.25 $4,948.95
44 $4,948.95 $101.99 $0.00 $27.98 $5,078.92
45 $5,078.92 $101.99 $0.00 $28.72 $5,209.63
46 $5,209.63 $101.99 $0.00 $29.46 $5,341.08
47 $5,341.08 $101.99 $0.00 $30.20 $5,473.27
48 $5,473.27 $101.99 $0.00 $30.95 $5,606.21
49 $5,606.21 $101.99 $0.00 $31.70 $5,739.90
50 $5,739.90 $101.99 $0.00 $32.45 $5,874.34
51 $5,874.34 $101.99 $0.00 $33.21 $6,009.54
52 $6,009.54 $101.99 $0.00 $33.98 $6,145.51
53 $6,145.51 $101.99 $0.00 $34.75 $6,282.25
54 $6,282.25 $101.99 $0.00 $35.52 $6,419.76
55 $6,419.76 $101.99 $0.00 $36.30 $6,558.05
56 $6,558.05 $101.99 $0.00 $37.08 $6,697.12
57 $6,697.12 $101.99 $0.00 $37.87 $6,836.98
58 $6,836.98 $101.99 $0.00 $38.66 $6,977.63
59 $6,977.63 $101.99 $0.00 $39.45 $7,119.07
60 $7,119.07 $101.99 $0.00 $40.25 $7,261.31
61 $7,261.31 $101.99 $0.00 $41.06 $7,404.36
62 $7,404.36 $101.99 $0.00 $41.87 $7,548.22
63 $7,548.22 $101.99 $0.00 $42.68 $7,692.89
64 $7,692.89 $101.99 $0.00 $43.50 $7,838.38
65 $7,838.38 $101.99 $0.00 $44.32 $7,984.69
66 $7,984.69 $101.99 $0.00 $45.15 $8,131.83
67 $8,131.83 $101.99 $0.00 $45.98 $8,279.80
68 $8,279.80 $101.99 $0.00 $46.82 $8,428.61
69 $8,428.61 $101.99 $0.00 $47.66 $8,578.26
70 $8,578.26 $101.99 $0.00 $48.50 $8,728.75
71 $8,728.75 $101.99 $0.00 $49.35 $8,880.09
72 $8,880.09 $101.99 $0.00 $50.21 $9,032.29
73 $9,032.29 $101.99 $0.00 $51.07 $9,185.35
74 $9,185.35 $101.99 $0.00 $51.94 $9,339.28
75 $9,339.28 $101.99 $0.00 $52.81 $9,494.08
76 $9,494.08 $101.99 $0.00 $53.68 $9,649.75
77 $9,649.75 $101.99 $0.00 $54.56 $9,806.30
78 $9,806.30 $101.99 $0.00 $55.45 $9,963.74
79 $9,963.74 $101.99 $0.00 $56.34 $10,122.07
80 $10,122.07 $101.99 $0.00 $57.23 $10,281.29
81 $10,281.29 $101.99 $0.00 $58.13 $10,441.41
82 $10,441.41 $101.99 $0.00 $59.04 $10,602.44
83 $10,602.44 $101.99 $0.00 $59.95 $10,764.38
84 $10,764.38 $101.99 $0.00 $60.86 $10,927.23
85 $10,927.23 $101.99 $0.00 $61.78 $11,091.00
86 $11,091.00 $101.99 $0.00 $62.71 $11,255.70
87 $11,255.70 $101.99 $0.00 $63.64 $11,421.33
88 $11,421.33 $101.99 $0.00 $64.58 $11,587.90
89 $11,587.90 $101.99 $0.00 $65.52 $11,755.41
90 $11,755.41 $101.99 $0.00 $66.47 $11,923.87
91 $11,923.87 $101.99 $0.00 $67.42 $12,093.28
92 $12,093.28 $101.99 $0.00 $68.38 $12,263.65
93 $12,263.65 $101.99 $0.00 $69.34 $12,434.98
94 $12,434.98 $101.99 $0.00 $70.31 $12,607.28
95 $12,607.28 $101.99 $0.00 $71.28 $12,780.55
96 $12,780.55 $101.99 $0.00 $72.26 $12,954.80
97 $12,954.80 $101.99 $0.00 $73.25 $13,130.04
98 $13,130.04 $101.99 $0.00 $74.24 $13,306.27
99 $13,306.27 $101.99 $0.00 $75.24 $13,483.50
100 $13,483.50 $101.99 $0.00 $76.24 $13,661.73
101 $13,661.73 $101.99 $0.00 $77.25 $13,840.97
102 $13,840.97 $101.99 $0.00 $78.26 $14,021.22
103 $14,021.22 $101.99 $0.00 $79.28 $14,202.49
104 $14,202.49 $101.99 $0.00 $80.30 $14,384.78
105 $14,384.78 $101.99 $0.00 $81.33 $14,568.10
106 $14,568.10 $101.99 $0.00 $82.37 $14,752.46
107 $14,752.46 $101.99 $0.00 $83.41 $14,937.86
108 $14,937.86 $101.99 $0.00 $84.46 $15,124.31
109 $15,124.31 $101.99 $0.00 $85.52 $15,311.82
110 $15,311.82 $101.99 $0.00 $86.58 $15,500.39
111 $15,500.39 $101.99 $0.00 $87.64 $15,690.02
112 $15,690.02 $101.99 $0.00 $88.71 $15,880.72
113 $15,880.72 $101.99 $0.00 $89.79 $16,072.50
114 $16,072.50 $101.99 $0.00 $90.88 $16,265.37
115 $16,265.37 $101.99 $0.00 $91.97 $16,459.33
116 $16,459.33 $101.99 $0.00 $93.06 $16,654.38
117 $16,654.38 $101.99 $0.00 $94.17 $16,850.54
118 $16,850.54 $101.99 $0.00 $95.28 $17,047.81
119 $17,047.81 $101.99 $0.00 $96.39 $17,246.19
120 $17,246.19 $101.99 $0.00 $97.51 $17,445.69
121 $17,445.69 $101.99 $0.00 $98.64 $17,646.32
122 $17,646.32 $101.99 $0.00 $99.77 $17,848.08
123 $17,848.08 $101.99 $0.00 $100.92 $18,050.99
124 $18,050.99 $101.99 $0.00 $102.06 $18,255.04
125 $18,255.04 $101.99 $0.00 $103.22 $18,460.25
126 $18,460.25 $101.99 $0.00 $104.38 $18,666.62
127 $18,666.62 $101.99 $0.00 $105.54 $18,874.15
128 $18,874.15 $101.99 $0.00 $106.72 $19,082.86
129 $19,082.86 $101.99 $0.00 $107.90 $19,292.75
130 $19,292.75 $101.99 $0.00 $109.08 $19,503.82
131 $19,503.82 $101.99 $0.00 $110.28 $19,716.09
132 $19,716.09 $101.99 $0.00 $111.48 $19,929.56
133 $19,929.56 $101.99 $0.00 $112.68 $20,144.23
134 $20,144.23 $101.99 $0.00 $113.90 $20,360.12
135 $20,360.12 $101.99 $0.00 $115.12 $20,577.23
136 $20,577.23 $101.99 $0.00 $116.35 $20,795.57
137 $20,795.57 $101.99 $0.00 $117.58 $21,015.14
138 $21,015.14 $101.99 $0.00 $118.82 $21,235.95
139 $21,235.95 $101.99 $0.00 $120.07 $21,458.01
140 $21,458.01 $101.99 $0.00 $121.33 $21,681.33
141 $21,681.33 $101.99 $0.00 $122.59 $21,905.91
142 $21,905.91 $101.99 $0.00 $123.86 $22,131.76
143 $22,131.76 $101.99 $0.00 $125.14 $22,358.89
144 $22,358.89 $101.99 $0.00 $126.42 $22,587.30
145 $22,587.30 $101.99 $0.00 $127.71 $22,817.00
146 $22,817.00 $101.99 $0.00 $129.01 $23,048.00
147 $23,048.00 $101.99 $0.00 $130.32 $23,280.31
148 $23,280.31 $101.99 $0.00 $131.63 $23,513.93
149 $23,513.93 $101.99 $0.00 $132.95 $23,748.87
150 $23,748.87 $101.99 $0.00 $134.28 $23,985.14
151 $23,985.14 $101.99 $0.00 $135.62 $24,222.75
152 $24,222.75 $101.99 $0.00 $136.96 $24,461.70
153 $24,461.70 $101.99 $0.00 $138.31 $24,702.00
154 $24,702.00 $101.99 $0.00 $139.67 $24,943.66
155 $24,943.66 $101.99 $0.00 $141.04 $25,186.69
156 $25,186.69 $101.99 $0.00 $142.41 $25,431.09
157 $25,431.09 $101.99 $0.00 $143.79 $25,676.87
158 $25,676.87 $101.99 $0.00 $145.18 $25,924.04
159 $25,924.04 $101.99 $0.00 $146.58 $26,172.61
160 $26,172.61 $101.99 $0.00 $147.98 $26,422.58
161 $26,422.58 $101.99 $0.00 $149.40 $26,673.97
162 $26,673.97 $101.99 $0.00 $150.82 $26,926.78
163 $26,926.78 $101.99 $0.00 $152.25 $27,181.02
164 $27,181.02 $101.99 $0.00 $153.69 $27,436.70
165 $27,436.70 $101.99 $0.00 $155.13 $27,693.82
166 $27,693.82 $101.99 $0.00 $156.58 $27,952.39
167 $27,952.39 $101.99 $0.00 $158.05 $28,212.43
168 $28,212.43 $101.99 $0.00 $159.52 $28,473.94
169 $28,473.94 $101.99 $0.00 $161.00 $28,736.93
170 $28,736.93 $101.99 $0.00 $162.48 $29,001.40
171 $29,001.40 $101.99 $0.00 $163.98 $29,267.37
172 $29,267.37 $101.99 $0.00 $165.48 $29,534.84
173 $29,534.84 $101.99 $0.00 $166.99 $29,803.82
174 $29,803.82 $101.99 $0.00 $168.52 $30,074.33
175 $30,074.33 $101.99 $0.00 $170.04 $30,346.36
176 $30,346.36 $101.99 $0.00 $171.58 $30,619.93
177 $30,619.93 $101.99 $0.00 $173.13 $30,895.05
178 $30,895.05 $101.99 $0.00 $174.69 $31,171.73
179 $31,171.73 $101.99 $0.00 $176.25 $31,449.97
180 $31,449.97 $101.99 $0.00 $177.82 $31,729.78
181 $31,729.78 $101.99 $0.00 $179.40 $32,011.17
182 $32,011.17 $101.99 $0.00 $181.00 $32,294.16
183 $32,294.16 $101.99 $0.00 $182.60 $32,578.75
184 $32,578.75 $101.99 $0.00 $184.20 $32,864.94
185 $32,864.94 $101.99 $0.00 $185.82 $33,152.75
186 $33,152.75 $101.99 $0.00 $187.45 $33,442.19
187 $33,442.19 $101.99 $0.00 $189.09 $33,733.27
188 $33,733.27 $101.99 $0.00 $190.73 $34,025.99
189 $34,025.99 $101.99 $0.00 $192.39 $34,320.37
190 $34,320.37 $101.99 $0.00 $194.05 $34,616.41
191 $34,616.41 $101.99 $0.00 $195.73 $34,914.13
192 $34,914.13 $101.99 $0.00 $197.41 $35,213.53
193 $35,213.53 $101.99 $0.00 $199.10 $35,514.62
194 $35,514.62 $101.99 $0.00 $200.80 $35,817.41
195 $35,817.41 $101.99 $0.00 $202.52 $36,121.92
196 $36,121.92 $101.99 $0.00 $204.24 $36,428.15
197 $36,428.15 $101.99 $0.00 $205.97 $36,736.11
198 $36,736.11 $101.99 $0.00 $207.71 $37,045.81
199 $37,045.81 $101.99 $0.00 $209.46 $37,357.26
200 $37,357.26 $101.99 $0.00 $211.22 $37,670.47
201 $37,670.47 $101.99 $0.00 $212.99 $37,985.45
202 $37,985.45 $101.99 $0.00 $214.78 $38,302.22
203 $38,302.22 $101.99 $0.00 $216.57 $38,620.78
204 $38,620.78 $101.99 $0.00 $218.37 $38,941.14
205 $38,941.14 $101.99 $0.00 $220.18 $39,263.31
206 $39,263.31 $101.99 $0.00 $222.00 $39,587.30
207 $39,587.30 $101.99 $0.00 $223.83 $39,913.12
208 $39,913.12 $101.99 $0.00 $225.67 $40,240.78
209 $40,240.78 $101.99 $0.00 $227.53 $40,570.30
210 $40,570.30 $101.99 $0.00 $229.39 $40,901.68
211 $40,901.68 $101.99 $0.00 $231.26 $41,234.93
212 $41,234.93 $101.99 $0.00 $233.15 $41,570.07
213 $41,570.07 $101.99 $0.00 $235.04 $41,907.10
214 $41,907.10 $101.99 $0.00 $236.95 $42,246.04
215 $42,246.04 $101.99 $0.00 $238.87 $42,586.90
216 $42,586.90 $101.99 $0.00 $240.79 $42,929.68
217 $42,929.68 $101.99 $22,386.37 $242.73 $20,888.03
218 $20,888.03 $101.99 $0.00 $118.10 $21,108.12
219 $21,108.12 $101.99 $0.00 $119.35 $21,329.46
220 $21,329.46 $101.99 $0.00 $120.60 $21,552.05
221 $21,552.05 $101.99 $0.00 $121.86 $21,775.90
222 $21,775.90 $101.99 $0.00 $123.12 $22,001.01
223 $22,001.01 $101.99 $0.00 $124.40 $22,227.40
224 $22,227.40 $101.99 $0.00 $125.68 $22,455.07
225 $22,455.07 $101.99 $0.00 $126.96 $22,684.02
226 $22,684.02 $101.99 $0.00 $128.26 $22,914.27
227 $22,914.27 $101.99 $0.00 $129.56 $23,145.82
228 $23,145.82 $101.99 $0.00 $130.87 $23,378.68
229 $23,378.68 $0.00 $23,505.69 $132.19 $5.18