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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$37,688
Monthly savings required$168

How much will it cost to send your child to Danville Area Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $75,375.07 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $167.50 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$15,278.00
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 $167.50 $0.00 $0.00 $167.50
2 $167.50 $167.50 $0.00 $0.95 $335.95
3 $335.95 $167.50 $0.00 $1.90 $505.35
4 $505.35 $167.50 $0.00 $2.86 $675.71
5 $675.71 $167.50 $0.00 $3.82 $847.03
6 $847.03 $167.50 $0.00 $4.79 $1,019.32
7 $1,019.32 $167.50 $0.00 $5.76 $1,192.58
8 $1,192.58 $167.50 $0.00 $6.74 $1,366.82
9 $1,366.82 $167.50 $0.00 $7.73 $1,542.05
10 $1,542.05 $167.50 $0.00 $8.72 $1,718.27
11 $1,718.27 $167.50 $0.00 $9.72 $1,895.49
12 $1,895.49 $167.50 $0.00 $10.72 $2,073.71
13 $2,073.71 $167.50 $0.00 $11.73 $2,252.94
14 $2,252.94 $167.50 $0.00 $12.74 $2,433.18
15 $2,433.18 $167.50 $0.00 $13.76 $2,614.44
16 $2,614.44 $167.50 $0.00 $14.78 $2,796.72
17 $2,796.72 $167.50 $0.00 $15.81 $2,980.03
18 $2,980.03 $167.50 $0.00 $16.85 $3,164.38
19 $3,164.38 $167.50 $0.00 $17.89 $3,349.77
20 $3,349.77 $167.50 $0.00 $18.94 $3,536.21
21 $3,536.21 $167.50 $0.00 $19.99 $3,723.70
22 $3,723.70 $167.50 $0.00 $21.05 $3,912.25
23 $3,912.25 $167.50 $0.00 $22.12 $4,101.87
24 $4,101.87 $167.50 $0.00 $23.19 $4,292.56
25 $4,292.56 $167.50 $0.00 $24.27 $4,484.33
26 $4,484.33 $167.50 $0.00 $25.36 $4,677.19
27 $4,677.19 $167.50 $0.00 $26.45 $4,871.14
28 $4,871.14 $167.50 $0.00 $27.54 $5,066.18
29 $5,066.18 $167.50 $0.00 $28.64 $5,262.32
30 $5,262.32 $167.50 $0.00 $29.75 $5,459.57
31 $5,459.57 $167.50 $0.00 $30.87 $5,657.94
32 $5,657.94 $167.50 $0.00 $31.99 $5,857.43
33 $5,857.43 $167.50 $0.00 $33.12 $6,058.05
34 $6,058.05 $167.50 $0.00 $34.25 $6,259.80
35 $6,259.80 $167.50 $0.00 $35.39 $6,462.69
36 $6,462.69 $167.50 $0.00 $36.54 $6,666.73
37 $6,666.73 $167.50 $0.00 $37.69 $6,871.92
38 $6,871.92 $167.50 $0.00 $38.85 $7,078.27
39 $7,078.27 $167.50 $0.00 $40.02 $7,285.79
40 $7,285.79 $167.50 $0.00 $41.19 $7,494.48
41 $7,494.48 $167.50 $0.00 $42.37 $7,704.35
42 $7,704.35 $167.50 $0.00 $43.56 $7,915.41
43 $7,915.41 $167.50 $0.00 $44.75 $8,127.66
44 $8,127.66 $167.50 $0.00 $45.95 $8,341.11
45 $8,341.11 $167.50 $0.00 $47.16 $8,555.77
46 $8,555.77 $167.50 $0.00 $48.38 $8,771.65
47 $8,771.65 $167.50 $0.00 $49.60 $8,988.75
48 $8,988.75 $167.50 $0.00 $50.82 $9,207.07
49 $9,207.07 $167.50 $0.00 $52.06 $9,426.63
50 $9,426.63 $167.50 $0.00 $53.30 $9,647.43
51 $9,647.43 $167.50 $0.00 $54.55 $9,869.48
52 $9,869.48 $167.50 $0.00 $55.80 $10,092.78
53 $10,092.78 $167.50 $0.00 $57.07 $10,317.35
54 $10,317.35 $167.50 $0.00 $58.34 $10,543.19
55 $10,543.19 $167.50 $0.00 $59.61 $10,770.30
56 $10,770.30 $167.50 $0.00 $60.90 $10,998.70
57 $10,998.70 $167.50 $0.00 $62.19 $11,228.39
58 $11,228.39 $167.50 $0.00 $63.49 $11,459.38
59 $11,459.38 $167.50 $0.00 $64.79 $11,691.67
60 $11,691.67 $167.50 $0.00 $66.11 $11,925.28
61 $11,925.28 $167.50 $0.00 $67.43 $12,160.21
62 $12,160.21 $167.50 $0.00 $68.76 $12,396.47
63 $12,396.47 $167.50 $0.00 $70.09 $12,634.06
64 $12,634.06 $167.50 $0.00 $71.43 $12,872.99
65 $12,872.99 $167.50 $0.00 $72.79 $13,113.28
66 $13,113.28 $167.50 $0.00 $74.14 $13,354.92
67 $13,354.92 $167.50 $0.00 $75.51 $13,597.93
68 $13,597.93 $167.50 $0.00 $76.88 $13,842.31
69 $13,842.31 $167.50 $0.00 $78.27 $14,088.08
70 $14,088.08 $167.50 $0.00 $79.66 $14,335.24
71 $14,335.24 $167.50 $0.00 $81.05 $14,583.79
72 $14,583.79 $167.50 $0.00 $82.46 $14,833.75
73 $14,833.75 $167.50 $0.00 $83.87 $15,085.12
74 $15,085.12 $167.50 $0.00 $85.29 $15,337.91
75 $15,337.91 $167.50 $0.00 $86.72 $15,592.13
76 $15,592.13 $167.50 $0.00 $88.16 $15,847.79
77 $15,847.79 $167.50 $0.00 $89.61 $16,104.90
78 $16,104.90 $167.50 $0.00 $91.06 $16,363.46
79 $16,363.46 $167.50 $0.00 $92.52 $16,623.48
80 $16,623.48 $167.50 $0.00 $93.99 $16,884.97
81 $16,884.97 $167.50 $0.00 $95.47 $17,147.94
82 $17,147.94 $167.50 $0.00 $96.96 $17,412.40
83 $17,412.40 $167.50 $0.00 $98.45 $17,678.35
84 $17,678.35 $167.50 $0.00 $99.96 $17,945.81
85 $17,945.81 $167.50 $0.00 $101.47 $18,214.78
86 $18,214.78 $167.50 $0.00 $102.99 $18,485.27
87 $18,485.27 $167.50 $0.00 $104.52 $18,757.29
88 $18,757.29 $167.50 $0.00 $106.06 $19,030.85
89 $19,030.85 $167.50 $0.00 $107.60 $19,305.95
90 $19,305.95 $167.50 $0.00 $109.16 $19,582.61
91 $19,582.61 $167.50 $0.00 $110.72 $19,860.83
92 $19,860.83 $167.50 $0.00 $112.30 $20,140.63
93 $20,140.63 $167.50 $0.00 $113.88 $20,422.01
94 $20,422.01 $167.50 $0.00 $115.47 $20,704.98
95 $20,704.98 $167.50 $0.00 $117.07 $20,989.55
96 $20,989.55 $167.50 $0.00 $118.68 $21,275.73
97 $21,275.73 $167.50 $0.00 $120.30 $21,563.53
98 $21,563.53 $167.50 $0.00 $121.92 $21,852.95
99 $21,852.95 $167.50 $0.00 $123.56 $22,144.01
100 $22,144.01 $167.50 $0.00 $125.21 $22,436.72
101 $22,436.72 $167.50 $0.00 $126.86 $22,731.08
102 $22,731.08 $167.50 $0.00 $128.52 $23,027.10
103 $23,027.10 $167.50 $0.00 $130.20 $23,324.80
104 $23,324.80 $167.50 $0.00 $131.88 $23,624.18
105 $23,624.18 $167.50 $0.00 $133.57 $23,925.25
106 $23,925.25 $167.50 $0.00 $135.28 $24,228.03
107 $24,228.03 $167.50 $0.00 $136.99 $24,532.52
108 $24,532.52 $167.50 $0.00 $138.71 $24,838.73
109 $24,838.73 $167.50 $0.00 $140.44 $25,146.67
110 $25,146.67 $167.50 $0.00 $142.18 $25,456.35
111 $25,456.35 $167.50 $0.00 $143.93 $25,767.78
112 $25,767.78 $167.50 $0.00 $145.69 $26,080.97
113 $26,080.97 $167.50 $0.00 $147.47 $26,395.94
114 $26,395.94 $167.50 $0.00 $149.25 $26,712.69
115 $26,712.69 $167.50 $0.00 $151.04 $27,031.23
116 $27,031.23 $167.50 $0.00 $152.84 $27,351.57
117 $27,351.57 $167.50 $0.00 $154.65 $27,673.72
118 $27,673.72 $167.50 $0.00 $156.47 $27,997.69
119 $27,997.69 $167.50 $0.00 $158.30 $28,323.49
120 $28,323.49 $167.50 $0.00 $160.15 $28,651.14
121 $28,651.14 $167.50 $0.00 $162.00 $28,980.64
122 $28,980.64 $167.50 $0.00 $163.86 $29,312.00
123 $29,312.00 $167.50 $0.00 $165.73 $29,645.23
124 $29,645.23 $167.50 $0.00 $167.62 $29,980.35
125 $29,980.35 $167.50 $0.00 $169.51 $30,317.36
126 $30,317.36 $167.50 $0.00 $171.42 $30,656.28
127 $30,656.28 $167.50 $0.00 $173.34 $30,997.12
128 $30,997.12 $167.50 $0.00 $175.26 $31,339.88
129 $31,339.88 $167.50 $0.00 $177.20 $31,684.58
130 $31,684.58 $167.50 $0.00 $179.15 $32,031.23
131 $32,031.23 $167.50 $0.00 $181.11 $32,379.84
132 $32,379.84 $167.50 $0.00 $183.08 $32,730.42
133 $32,730.42 $167.50 $0.00 $185.06 $33,082.98
134 $33,082.98 $167.50 $0.00 $187.06 $33,437.54
135 $33,437.54 $167.50 $0.00 $189.06 $33,794.10
136 $33,794.10 $167.50 $0.00 $191.08 $34,152.68
137 $34,152.68 $167.50 $0.00 $193.10 $34,513.28
138 $34,513.28 $167.50 $0.00 $195.14 $34,875.92
139 $34,875.92 $167.50 $0.00 $197.19 $35,240.61
140 $35,240.61 $167.50 $0.00 $199.26 $35,607.37
141 $35,607.37 $167.50 $0.00 $201.33 $35,976.20
142 $35,976.20 $167.50 $0.00 $203.41 $36,347.11
143 $36,347.11 $167.50 $0.00 $205.51 $36,720.12
144 $36,720.12 $167.50 $0.00 $207.62 $37,095.24
145 $37,095.24 $167.50 $0.00 $209.74 $37,472.48
146 $37,472.48 $167.50 $0.00 $211.87 $37,851.85
147 $37,851.85 $167.50 $0.00 $214.02 $38,233.37
148 $38,233.37 $167.50 $0.00 $216.18 $38,617.05
149 $38,617.05 $167.50 $0.00 $218.35 $39,002.90
150 $39,002.90 $167.50 $0.00 $220.53 $39,390.93
151 $39,390.93 $167.50 $0.00 $222.72 $39,781.15
152 $39,781.15 $167.50 $0.00 $224.93 $40,173.58
153 $40,173.58 $167.50 $0.00 $227.15 $40,568.23
154 $40,568.23 $167.50 $0.00 $229.38 $40,965.11
155 $40,965.11 $167.50 $0.00 $231.62 $41,364.23
156 $41,364.23 $167.50 $0.00 $233.88 $41,765.61
157 $41,765.61 $167.50 $0.00 $236.15 $42,169.26
158 $42,169.26 $167.50 $0.00 $238.43 $42,575.19
159 $42,575.19 $167.50 $0.00 $240.73 $42,983.42
160 $42,983.42 $167.50 $0.00 $243.03 $43,393.95
161 $43,393.95 $167.50 $0.00 $245.36 $43,806.81
162 $43,806.81 $167.50 $0.00 $247.69 $44,222.00
163 $44,222.00 $167.50 $0.00 $250.04 $44,639.54
164 $44,639.54 $167.50 $0.00 $252.40 $45,059.44
165 $45,059.44 $167.50 $0.00 $254.77 $45,481.71
166 $45,481.71 $167.50 $0.00 $257.16 $45,906.37
167 $45,906.37 $167.50 $0.00 $259.56 $46,333.43
168 $46,333.43 $167.50 $0.00 $261.98 $46,762.91
169 $46,762.91 $167.50 $0.00 $264.40 $47,194.81
170 $47,194.81 $167.50 $0.00 $266.85 $47,629.16
171 $47,629.16 $167.50 $0.00 $269.30 $48,065.96
172 $48,065.96 $167.50 $0.00 $271.77 $48,505.23
173 $48,505.23 $167.50 $0.00 $274.26 $48,946.99
174 $48,946.99 $167.50 $0.00 $276.75 $49,391.24
175 $49,391.24 $167.50 $0.00 $279.27 $49,838.01
176 $49,838.01 $167.50 $0.00 $281.79 $50,287.30
177 $50,287.30 $167.50 $0.00 $284.33 $50,739.13
178 $50,739.13 $167.50 $0.00 $286.89 $51,193.52
179 $51,193.52 $167.50 $0.00 $289.46 $51,650.48
180 $51,650.48 $167.50 $0.00 $292.04 $52,110.02
181 $52,110.02 $167.50 $0.00 $294.64 $52,572.16
182 $52,572.16 $167.50 $0.00 $297.25 $53,036.91
183 $53,036.91 $167.50 $0.00 $299.88 $53,504.29
184 $53,504.29 $167.50 $0.00 $302.52 $53,974.31
185 $53,974.31 $167.50 $0.00 $305.18 $54,446.99
186 $54,446.99 $167.50 $0.00 $307.85 $54,922.34
187 $54,922.34 $167.50 $0.00 $310.54 $55,400.38
188 $55,400.38 $167.50 $0.00 $313.24 $55,881.12
189 $55,881.12 $167.50 $0.00 $315.96 $56,364.58
190 $56,364.58 $167.50 $0.00 $318.69 $56,850.77
191 $56,850.77 $167.50 $0.00 $321.44 $57,339.71
192 $57,339.71 $167.50 $0.00 $324.21 $57,831.42
193 $57,831.42 $167.50 $0.00 $326.99 $58,325.91
194 $58,325.91 $167.50 $0.00 $329.78 $58,823.19
195 $58,823.19 $167.50 $0.00 $332.59 $59,323.28
196 $59,323.28 $167.50 $0.00 $335.42 $59,826.20
197 $59,826.20 $167.50 $0.00 $338.27 $60,331.97
198 $60,331.97 $167.50 $0.00 $341.13 $60,840.60
199 $60,840.60 $167.50 $0.00 $344.00 $61,352.10
200 $61,352.10 $167.50 $0.00 $346.89 $61,866.49
201 $61,866.49 $167.50 $0.00 $349.80 $62,383.79
202 $62,383.79 $167.50 $0.00 $352.73 $62,904.02
203 $62,904.02 $167.50 $0.00 $355.67 $63,427.19
204 $63,427.19 $167.50 $0.00 $358.63 $63,953.32
205 $63,953.32 $167.50 $0.00 $361.60 $64,482.42
206 $64,482.42 $167.50 $0.00 $364.59 $65,014.51
207 $65,014.51 $167.50 $0.00 $367.60 $65,549.61
208 $65,549.61 $167.50 $0.00 $370.63 $66,087.74
209 $66,087.74 $167.50 $0.00 $373.67 $66,628.91
210 $66,628.91 $167.50 $0.00 $376.73 $67,173.14
211 $67,173.14 $167.50 $0.00 $379.81 $67,720.45
212 $67,720.45 $167.50 $0.00 $382.90 $68,270.85
213 $68,270.85 $167.50 $0.00 $386.01 $68,824.36
214 $68,824.36 $167.50 $0.00 $389.14 $69,381.00
215 $69,381.00 $167.50 $0.00 $392.29 $69,940.79
216 $69,940.79 $167.50 $0.00 $395.46 $70,503.75
217 $70,503.75 $167.50 $36,768.33 $398.64 $34,301.56
218 $34,301.56 $167.50 $0.00 $193.95 $34,663.01
219 $34,663.01 $167.50 $0.00 $195.99 $35,026.50
220 $35,026.50 $167.50 $0.00 $198.04 $35,392.04
221 $35,392.04 $167.50 $0.00 $200.11 $35,759.65
222 $35,759.65 $167.50 $0.00 $202.19 $36,129.34
223 $36,129.34 $167.50 $0.00 $204.28 $36,501.12
224 $36,501.12 $167.50 $0.00 $206.38 $36,875.00
225 $36,875.00 $167.50 $0.00 $208.50 $37,251.00
226 $37,251.00 $167.50 $0.00 $210.62 $37,629.12
227 $37,629.12 $167.50 $0.00 $212.76 $38,009.38
228 $38,009.38 $167.50 $0.00 $214.91 $38,391.79
229 $38,391.79 $0.00 $38,606.75 $217.07 $2.11