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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$49,839
Monthly savings required$222

How much will it cost to send your child to City Colleges of Chicago Harold Washington College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $99,677.84 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $221.51 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$20,204.00
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 $221.51 $0.00 $0.00 $221.51
2 $221.51 $221.51 $0.00 $1.25 $444.27
3 $444.27 $221.51 $0.00 $2.51 $668.29
4 $668.29 $221.51 $0.00 $3.78 $893.58
5 $893.58 $221.51 $0.00 $5.05 $1,120.14
6 $1,120.14 $221.51 $0.00 $6.33 $1,347.98
7 $1,347.98 $221.51 $0.00 $7.62 $1,577.11
8 $1,577.11 $221.51 $0.00 $8.92 $1,807.54
9 $1,807.54 $221.51 $0.00 $10.22 $2,039.27
10 $2,039.27 $221.51 $0.00 $11.53 $2,272.31
11 $2,272.31 $221.51 $0.00 $12.85 $2,506.67
12 $2,506.67 $221.51 $0.00 $14.17 $2,742.35
13 $2,742.35 $221.51 $0.00 $15.51 $2,979.37
14 $2,979.37 $221.51 $0.00 $16.85 $3,217.73
15 $3,217.73 $221.51 $0.00 $18.19 $3,457.43
16 $3,457.43 $221.51 $0.00 $19.55 $3,698.49
17 $3,698.49 $221.51 $0.00 $20.91 $3,940.91
18 $3,940.91 $221.51 $0.00 $22.28 $4,184.70
19 $4,184.70 $221.51 $0.00 $23.66 $4,429.87
20 $4,429.87 $221.51 $0.00 $25.05 $4,676.43
21 $4,676.43 $221.51 $0.00 $26.44 $4,924.38
22 $4,924.38 $221.51 $0.00 $27.84 $5,173.73
23 $5,173.73 $221.51 $0.00 $29.25 $5,424.49
24 $5,424.49 $221.51 $0.00 $30.67 $5,676.67
25 $5,676.67 $221.51 $0.00 $32.10 $5,930.28
26 $5,930.28 $221.51 $0.00 $33.53 $6,185.32
27 $6,185.32 $221.51 $0.00 $34.97 $6,441.80
28 $6,441.80 $221.51 $0.00 $36.42 $6,699.73
29 $6,699.73 $221.51 $0.00 $37.88 $6,959.12
30 $6,959.12 $221.51 $0.00 $39.35 $7,219.98
31 $7,219.98 $221.51 $0.00 $40.82 $7,482.31
32 $7,482.31 $221.51 $0.00 $42.31 $7,746.13
33 $7,746.13 $221.51 $0.00 $43.80 $8,011.44
34 $8,011.44 $221.51 $0.00 $45.30 $8,278.25
35 $8,278.25 $221.51 $0.00 $46.81 $8,546.57
36 $8,546.57 $221.51 $0.00 $48.32 $8,816.40
37 $8,816.40 $221.51 $0.00 $49.85 $9,087.76
38 $9,087.76 $221.51 $0.00 $51.38 $9,360.65
39 $9,360.65 $221.51 $0.00 $52.93 $9,635.09
40 $9,635.09 $221.51 $0.00 $54.48 $9,911.08
41 $9,911.08 $221.51 $0.00 $56.04 $10,188.63
42 $10,188.63 $221.51 $0.00 $57.61 $10,467.75
43 $10,467.75 $221.51 $0.00 $59.19 $10,748.45
44 $10,748.45 $221.51 $0.00 $60.77 $11,030.73
45 $11,030.73 $221.51 $0.00 $62.37 $11,314.61
46 $11,314.61 $221.51 $0.00 $63.97 $11,600.09
47 $11,600.09 $221.51 $0.00 $65.59 $11,887.19
48 $11,887.19 $221.51 $0.00 $67.21 $12,175.91
49 $12,175.91 $221.51 $0.00 $68.84 $12,466.26
50 $12,466.26 $221.51 $0.00 $70.49 $12,758.26
51 $12,758.26 $221.51 $0.00 $72.14 $13,051.91
52 $13,051.91 $221.51 $0.00 $73.80 $13,347.22
53 $13,347.22 $221.51 $0.00 $75.47 $13,644.20
54 $13,644.20 $221.51 $0.00 $77.15 $13,942.86
55 $13,942.86 $221.51 $0.00 $78.83 $14,243.20
56 $14,243.20 $221.51 $0.00 $80.53 $14,545.24
57 $14,545.24 $221.51 $0.00 $82.24 $14,848.99
58 $14,848.99 $221.51 $0.00 $83.96 $15,154.46
59 $15,154.46 $221.51 $0.00 $85.69 $15,461.66
60 $15,461.66 $221.51 $0.00 $87.42 $15,770.59
61 $15,770.59 $221.51 $0.00 $89.17 $16,081.27
62 $16,081.27 $221.51 $0.00 $90.93 $16,393.71
63 $16,393.71 $221.51 $0.00 $92.69 $16,707.91
64 $16,707.91 $221.51 $0.00 $94.47 $17,023.89
65 $17,023.89 $221.51 $0.00 $96.26 $17,341.66
66 $17,341.66 $221.51 $0.00 $98.05 $17,661.22
67 $17,661.22 $221.51 $0.00 $99.86 $17,982.59
68 $17,982.59 $221.51 $0.00 $101.68 $18,305.78
69 $18,305.78 $221.51 $0.00 $103.50 $18,630.79
70 $18,630.79 $221.51 $0.00 $105.34 $18,957.64
71 $18,957.64 $221.51 $0.00 $107.19 $19,286.34
72 $19,286.34 $221.51 $0.00 $109.05 $19,616.90
73 $19,616.90 $221.51 $0.00 $110.92 $19,949.33
74 $19,949.33 $221.51 $0.00 $112.80 $20,283.64
75 $20,283.64 $221.51 $0.00 $114.69 $20,619.84
76 $20,619.84 $221.51 $0.00 $116.59 $20,957.94
77 $20,957.94 $221.51 $0.00 $118.50 $21,297.95
78 $21,297.95 $221.51 $0.00 $120.42 $21,639.88
79 $21,639.88 $221.51 $0.00 $122.36 $21,983.75
80 $21,983.75 $221.51 $0.00 $124.30 $22,329.56
81 $22,329.56 $221.51 $0.00 $126.25 $22,677.32
82 $22,677.32 $221.51 $0.00 $128.22 $23,027.05
83 $23,027.05 $221.51 $0.00 $130.20 $23,378.76
84 $23,378.76 $221.51 $0.00 $132.19 $23,732.46
85 $23,732.46 $221.51 $0.00 $134.19 $24,088.16
86 $24,088.16 $221.51 $0.00 $136.20 $24,445.87
87 $24,445.87 $221.51 $0.00 $138.22 $24,805.60
88 $24,805.60 $221.51 $0.00 $140.25 $25,167.36
89 $25,167.36 $221.51 $0.00 $142.30 $25,531.17
90 $25,531.17 $221.51 $0.00 $144.36 $25,897.04
91 $25,897.04 $221.51 $0.00 $146.43 $26,264.98
92 $26,264.98 $221.51 $0.00 $148.51 $26,635.00
93 $26,635.00 $221.51 $0.00 $150.60 $27,007.11
94 $27,007.11 $221.51 $0.00 $152.70 $27,381.32
95 $27,381.32 $221.51 $0.00 $154.82 $27,757.65
96 $27,757.65 $221.51 $0.00 $156.95 $28,136.11
97 $28,136.11 $221.51 $0.00 $159.09 $28,516.71
98 $28,516.71 $221.51 $0.00 $161.24 $28,899.46
99 $28,899.46 $221.51 $0.00 $163.40 $29,284.37
100 $29,284.37 $221.51 $0.00 $165.58 $29,671.46
101 $29,671.46 $221.51 $0.00 $167.77 $30,060.74
102 $30,060.74 $221.51 $0.00 $169.97 $30,452.22
103 $30,452.22 $221.51 $0.00 $172.18 $30,845.91
104 $30,845.91 $221.51 $0.00 $174.41 $31,241.83
105 $31,241.83 $221.51 $0.00 $176.65 $31,639.99
106 $31,639.99 $221.51 $0.00 $178.90 $32,040.40
107 $32,040.40 $221.51 $0.00 $181.16 $32,443.07
108 $32,443.07 $221.51 $0.00 $183.44 $32,848.02
109 $32,848.02 $221.51 $0.00 $185.73 $33,255.26
110 $33,255.26 $221.51 $0.00 $188.03 $33,664.80
111 $33,664.80 $221.51 $0.00 $190.35 $34,076.66
112 $34,076.66 $221.51 $0.00 $192.67 $34,490.84
113 $34,490.84 $221.51 $0.00 $195.02 $34,907.37
114 $34,907.37 $221.51 $0.00 $197.37 $35,326.25
115 $35,326.25 $221.51 $0.00 $199.74 $35,747.50
116 $35,747.50 $221.51 $0.00 $202.12 $36,171.13
117 $36,171.13 $221.51 $0.00 $204.52 $36,597.16
118 $36,597.16 $221.51 $0.00 $206.93 $37,025.60
119 $37,025.60 $221.51 $0.00 $209.35 $37,456.46
120 $37,456.46 $221.51 $0.00 $211.78 $37,889.75
121 $37,889.75 $221.51 $0.00 $214.23 $38,325.49
122 $38,325.49 $221.51 $0.00 $216.70 $38,763.70
123 $38,763.70 $221.51 $0.00 $219.18 $39,204.39
124 $39,204.39 $221.51 $0.00 $221.67 $39,647.57
125 $39,647.57 $221.51 $0.00 $224.17 $40,093.25
126 $40,093.25 $221.51 $0.00 $226.69 $40,541.45
127 $40,541.45 $221.51 $0.00 $229.23 $40,992.19
128 $40,992.19 $221.51 $0.00 $231.78 $41,445.48
129 $41,445.48 $221.51 $0.00 $234.34 $41,901.33
130 $41,901.33 $221.51 $0.00 $236.92 $42,359.76
131 $42,359.76 $221.51 $0.00 $239.51 $42,820.78
132 $42,820.78 $221.51 $0.00 $242.11 $43,284.40
133 $43,284.40 $221.51 $0.00 $244.74 $43,750.65
134 $43,750.65 $221.51 $0.00 $247.37 $44,219.53
135 $44,219.53 $221.51 $0.00 $250.02 $44,691.06
136 $44,691.06 $221.51 $0.00 $252.69 $45,165.26
137 $45,165.26 $221.51 $0.00 $255.37 $45,642.14
138 $45,642.14 $221.51 $0.00 $258.07 $46,121.72
139 $46,121.72 $221.51 $0.00 $260.78 $46,604.01
140 $46,604.01 $221.51 $0.00 $263.51 $47,089.03
141 $47,089.03 $221.51 $0.00 $266.25 $47,576.79
142 $47,576.79 $221.51 $0.00 $269.01 $48,067.31
143 $48,067.31 $221.51 $0.00 $271.78 $48,560.60
144 $48,560.60 $221.51 $0.00 $274.57 $49,056.68
145 $49,056.68 $221.51 $0.00 $277.37 $49,555.56
146 $49,555.56 $221.51 $0.00 $280.19 $50,057.26
147 $50,057.26 $221.51 $0.00 $283.03 $50,561.80
148 $50,561.80 $221.51 $0.00 $285.88 $51,069.19
149 $51,069.19 $221.51 $0.00 $288.75 $51,579.45
150 $51,579.45 $221.51 $0.00 $291.64 $52,092.60
151 $52,092.60 $221.51 $0.00 $294.54 $52,608.65
152 $52,608.65 $221.51 $0.00 $297.46 $53,127.62
153 $53,127.62 $221.51 $0.00 $300.39 $53,649.52
154 $53,649.52 $221.51 $0.00 $303.34 $54,174.37
155 $54,174.37 $221.51 $0.00 $306.31 $54,702.19
156 $54,702.19 $221.51 $0.00 $309.29 $55,232.99
157 $55,232.99 $221.51 $0.00 $312.30 $55,766.80
158 $55,766.80 $221.51 $0.00 $315.31 $56,303.62
159 $56,303.62 $221.51 $0.00 $318.35 $56,843.48
160 $56,843.48 $221.51 $0.00 $321.40 $57,386.39
161 $57,386.39 $221.51 $0.00 $324.47 $57,932.37
162 $57,932.37 $221.51 $0.00 $327.56 $58,481.44
163 $58,481.44 $221.51 $0.00 $330.66 $59,033.61
164 $59,033.61 $221.51 $0.00 $333.78 $59,588.90
165 $59,588.90 $221.51 $0.00 $336.92 $60,147.33
166 $60,147.33 $221.51 $0.00 $340.08 $60,708.92
167 $60,708.92 $221.51 $0.00 $343.26 $61,273.69
168 $61,273.69 $221.51 $0.00 $346.45 $61,841.65
169 $61,841.65 $221.51 $0.00 $349.66 $62,412.82
170 $62,412.82 $221.51 $0.00 $352.89 $62,987.22
171 $62,987.22 $221.51 $0.00 $356.14 $63,564.87
172 $63,564.87 $221.51 $0.00 $359.41 $64,145.79
173 $64,145.79 $221.51 $0.00 $362.69 $64,729.99
174 $64,729.99 $221.51 $0.00 $365.99 $65,317.49
175 $65,317.49 $221.51 $0.00 $369.31 $65,908.31
176 $65,908.31 $221.51 $0.00 $372.66 $66,502.48
177 $66,502.48 $221.51 $0.00 $376.01 $67,100.00
178 $67,100.00 $221.51 $0.00 $379.39 $67,700.90
179 $67,700.90 $221.51 $0.00 $382.79 $68,305.20
180 $68,305.20 $221.51 $0.00 $386.21 $68,912.92
181 $68,912.92 $221.51 $0.00 $389.64 $69,524.07
182 $69,524.07 $221.51 $0.00 $393.10 $70,138.68
183 $70,138.68 $221.51 $0.00 $396.57 $70,756.76
184 $70,756.76 $221.51 $0.00 $400.07 $71,378.34
185 $71,378.34 $221.51 $0.00 $403.58 $72,003.43
186 $72,003.43 $221.51 $0.00 $407.12 $72,632.06
187 $72,632.06 $221.51 $0.00 $410.67 $73,264.24
188 $73,264.24 $221.51 $0.00 $414.25 $73,900.00
189 $73,900.00 $221.51 $0.00 $417.84 $74,539.35
190 $74,539.35 $221.51 $0.00 $421.46 $75,182.32
191 $75,182.32 $221.51 $0.00 $425.09 $75,828.92
192 $75,828.92 $221.51 $0.00 $428.75 $76,479.18
193 $76,479.18 $221.51 $0.00 $432.42 $77,133.11
194 $77,133.11 $221.51 $0.00 $436.12 $77,790.74
195 $77,790.74 $221.51 $0.00 $439.84 $78,452.09
196 $78,452.09 $221.51 $0.00 $443.58 $79,117.18
197 $79,117.18 $221.51 $0.00 $447.34 $79,786.03
198 $79,786.03 $221.51 $0.00 $451.12 $80,458.66
199 $80,458.66 $221.51 $0.00 $454.92 $81,135.09
200 $81,135.09 $221.51 $0.00 $458.75 $81,815.35
201 $81,815.35 $221.51 $0.00 $462.60 $82,499.46
202 $82,499.46 $221.51 $0.00 $466.46 $83,187.43
203 $83,187.43 $221.51 $0.00 $470.35 $83,879.29
204 $83,879.29 $221.51 $0.00 $474.27 $84,575.07
205 $84,575.07 $221.51 $0.00 $478.20 $85,274.78
206 $85,274.78 $221.51 $0.00 $482.16 $85,978.45
207 $85,978.45 $221.51 $0.00 $486.13 $86,686.09
208 $86,686.09 $221.51 $0.00 $490.14 $87,397.74
209 $87,397.74 $221.51 $0.00 $494.16 $88,113.41
210 $88,113.41 $221.51 $0.00 $498.21 $88,833.13
211 $88,833.13 $221.51 $0.00 $502.28 $89,556.92
212 $89,556.92 $221.51 $0.00 $506.37 $90,284.80
213 $90,284.80 $221.51 $0.00 $510.48 $91,016.79
214 $91,016.79 $221.51 $0.00 $514.62 $91,752.92
215 $91,752.92 $221.51 $0.00 $518.78 $92,493.21
216 $92,493.21 $221.51 $0.00 $522.97 $93,237.69
217 $93,237.69 $221.51 $48,623.33 $527.18 $45,363.05
218 $45,363.05 $221.51 $0.00 $256.49 $45,841.05
219 $45,841.05 $221.51 $0.00 $259.19 $46,321.75
220 $46,321.75 $221.51 $0.00 $261.91 $46,805.17
221 $46,805.17 $221.51 $0.00 $264.64 $47,291.32
222 $47,291.32 $221.51 $0.00 $267.39 $47,780.22
223 $47,780.22 $221.51 $0.00 $270.16 $48,271.89
224 $48,271.89 $221.51 $0.00 $272.94 $48,766.34
225 $48,766.34 $221.51 $0.00 $275.73 $49,263.58
226 $49,263.58 $221.51 $0.00 $278.54 $49,763.63
227 $49,763.63 $221.51 $0.00 $281.37 $50,266.51
228 $50,266.51 $221.51 $0.00 $284.21 $50,772.23
229 $50,772.23 $0.00 $51,054.50 $287.07 $4.80