Savings Plan and Future Cost Estimation for Richland Community College

How much will it cost and what do you need to save?

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$88,225
Monthly savings required$392

How much will it cost to send your child to Richland Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $176,450.72 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $391.98 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$25,220.00
Years until enrollment18
Annual Tuition Increase7%
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 $391.98 $0.00 $0.00 $391.98
2 $391.98 $391.98 $0.00 $2.22 $786.18
3 $786.18 $391.98 $0.00 $4.45 $1,182.61
4 $1,182.61 $391.98 $0.00 $6.69 $1,581.28
5 $1,581.28 $391.98 $0.00 $8.94 $1,982.20
6 $1,982.20 $391.98 $0.00 $11.21 $2,385.39
7 $2,385.39 $391.98 $0.00 $13.49 $2,790.86
8 $2,790.86 $391.98 $0.00 $15.78 $3,198.62
9 $3,198.62 $391.98 $0.00 $18.09 $3,608.69
10 $3,608.69 $391.98 $0.00 $20.40 $4,021.07
11 $4,021.07 $391.98 $0.00 $22.74 $4,435.79
12 $4,435.79 $391.98 $0.00 $25.08 $4,852.85
13 $4,852.85 $391.98 $0.00 $27.44 $5,272.27
14 $5,272.27 $391.98 $0.00 $29.81 $5,694.06
15 $5,694.06 $391.98 $0.00 $32.20 $6,118.24
16 $6,118.24 $391.98 $0.00 $34.59 $6,544.81
17 $6,544.81 $391.98 $0.00 $37.01 $6,973.80
18 $6,973.80 $391.98 $0.00 $39.43 $7,405.21
19 $7,405.21 $391.98 $0.00 $41.87 $7,839.06
20 $7,839.06 $391.98 $0.00 $44.32 $8,275.36
21 $8,275.36 $391.98 $0.00 $46.79 $8,714.13
22 $8,714.13 $391.98 $0.00 $49.27 $9,155.38
23 $9,155.38 $391.98 $0.00 $51.77 $9,599.13
24 $9,599.13 $391.98 $0.00 $54.27 $10,045.38
25 $10,045.38 $391.98 $0.00 $56.80 $10,494.16
26 $10,494.16 $391.98 $0.00 $59.34 $10,945.48
27 $10,945.48 $391.98 $0.00 $61.89 $11,399.35
28 $11,399.35 $391.98 $0.00 $64.45 $11,855.78
29 $11,855.78 $391.98 $0.00 $67.03 $12,314.79
30 $12,314.79 $391.98 $0.00 $69.63 $12,776.40
31 $12,776.40 $391.98 $0.00 $72.24 $13,240.62
32 $13,240.62 $391.98 $0.00 $74.86 $13,707.46
33 $13,707.46 $391.98 $0.00 $77.50 $14,176.94
34 $14,176.94 $391.98 $0.00 $80.16 $14,649.08
35 $14,649.08 $391.98 $0.00 $82.83 $15,123.89
36 $15,123.89 $391.98 $0.00 $85.51 $15,601.38
37 $15,601.38 $391.98 $0.00 $88.21 $16,081.57
38 $16,081.57 $391.98 $0.00 $90.93 $16,564.48
39 $16,564.48 $391.98 $0.00 $93.66 $17,050.12
40 $17,050.12 $391.98 $0.00 $96.40 $17,538.50
41 $17,538.50 $391.98 $0.00 $99.17 $18,029.65
42 $18,029.65 $391.98 $0.00 $101.94 $18,523.57
43 $18,523.57 $391.98 $0.00 $104.73 $19,020.28
44 $19,020.28 $391.98 $0.00 $107.54 $19,519.80
45 $19,519.80 $391.98 $0.00 $110.37 $20,022.15
46 $20,022.15 $391.98 $0.00 $113.21 $20,527.34
47 $20,527.34 $391.98 $0.00 $116.06 $21,035.38
48 $21,035.38 $391.98 $0.00 $118.94 $21,546.30
49 $21,546.30 $391.98 $0.00 $121.83 $22,060.11
50 $22,060.11 $391.98 $0.00 $124.73 $22,576.82
51 $22,576.82 $391.98 $0.00 $127.65 $23,096.45
52 $23,096.45 $391.98 $0.00 $130.59 $23,619.02
53 $23,619.02 $391.98 $0.00 $133.55 $24,144.55
54 $24,144.55 $391.98 $0.00 $136.52 $24,673.05
55 $24,673.05 $391.98 $0.00 $139.51 $25,204.54
56 $25,204.54 $391.98 $0.00 $142.51 $25,739.03
57 $25,739.03 $391.98 $0.00 $145.53 $26,276.54
58 $26,276.54 $391.98 $0.00 $148.57 $26,817.09
59 $26,817.09 $391.98 $0.00 $151.63 $27,360.70
60 $27,360.70 $391.98 $0.00 $154.70 $27,907.38
61 $27,907.38 $391.98 $0.00 $157.79 $28,457.15
62 $28,457.15 $391.98 $0.00 $160.90 $29,010.03
63 $29,010.03 $391.98 $0.00 $164.03 $29,566.04
64 $29,566.04 $391.98 $0.00 $167.17 $30,125.19
65 $30,125.19 $391.98 $0.00 $170.33 $30,687.50
66 $30,687.50 $391.98 $0.00 $173.51 $31,252.99
67 $31,252.99 $391.98 $0.00 $176.71 $31,821.68
68 $31,821.68 $391.98 $0.00 $179.92 $32,393.58
69 $32,393.58 $391.98 $0.00 $183.16 $32,968.72
70 $32,968.72 $391.98 $0.00 $186.41 $33,547.11
71 $33,547.11 $391.98 $0.00 $189.68 $34,128.77
72 $34,128.77 $391.98 $0.00 $192.97 $34,713.72
73 $34,713.72 $391.98 $0.00 $196.28 $35,301.98
74 $35,301.98 $391.98 $0.00 $199.60 $35,893.56
75 $35,893.56 $391.98 $0.00 $202.95 $36,488.49
76 $36,488.49 $391.98 $0.00 $206.31 $37,086.78
77 $37,086.78 $391.98 $0.00 $209.69 $37,688.45
78 $37,688.45 $391.98 $0.00 $213.10 $38,293.53
79 $38,293.53 $391.98 $0.00 $216.52 $38,902.03
80 $38,902.03 $391.98 $0.00 $219.96 $39,513.97
81 $39,513.97 $391.98 $0.00 $223.42 $40,129.37
82 $40,129.37 $391.98 $0.00 $226.90 $40,748.25
83 $40,748.25 $391.98 $0.00 $230.40 $41,370.63
84 $41,370.63 $391.98 $0.00 $233.92 $41,996.53
85 $41,996.53 $391.98 $0.00 $237.45 $42,625.96
86 $42,625.96 $391.98 $0.00 $241.01 $43,258.95
87 $43,258.95 $391.98 $0.00 $244.59 $43,895.52
88 $43,895.52 $391.98 $0.00 $248.19 $44,535.69
89 $44,535.69 $391.98 $0.00 $251.81 $45,179.48
90 $45,179.48 $391.98 $0.00 $255.45 $45,826.91
91 $45,826.91 $391.98 $0.00 $259.11 $46,478.00
92 $46,478.00 $391.98 $0.00 $262.79 $47,132.77
93 $47,132.77 $391.98 $0.00 $266.50 $47,791.25
94 $47,791.25 $391.98 $0.00 $270.22 $48,453.45
95 $48,453.45 $391.98 $0.00 $273.96 $49,119.39
96 $49,119.39 $391.98 $0.00 $277.73 $49,789.10
97 $49,789.10 $391.98 $0.00 $281.51 $50,462.59
98 $50,462.59 $391.98 $0.00 $285.32 $51,139.89
99 $51,139.89 $391.98 $0.00 $289.15 $51,821.02
100 $51,821.02 $391.98 $0.00 $293.00 $52,506.00
101 $52,506.00 $391.98 $0.00 $296.88 $53,194.86
102 $53,194.86 $391.98 $0.00 $300.77 $53,887.61
103 $53,887.61 $391.98 $0.00 $304.69 $54,584.28
104 $54,584.28 $391.98 $0.00 $308.63 $55,284.89
105 $55,284.89 $391.98 $0.00 $312.59 $55,989.46
106 $55,989.46 $391.98 $0.00 $316.57 $56,698.01
107 $56,698.01 $391.98 $0.00 $320.58 $57,410.57
108 $57,410.57 $391.98 $0.00 $324.61 $58,127.16
109 $58,127.16 $391.98 $0.00 $328.66 $58,847.80
110 $58,847.80 $391.98 $0.00 $332.73 $59,572.51
111 $59,572.51 $391.98 $0.00 $336.83 $60,301.32
112 $60,301.32 $391.98 $0.00 $340.95 $61,034.25
113 $61,034.25 $391.98 $0.00 $345.10 $61,771.33
114 $61,771.33 $391.98 $0.00 $349.26 $62,512.57
115 $62,512.57 $391.98 $0.00 $353.46 $63,258.01
116 $63,258.01 $391.98 $0.00 $357.67 $64,007.66
117 $64,007.66 $391.98 $0.00 $361.91 $64,761.55
118 $64,761.55 $391.98 $0.00 $366.17 $65,519.70
119 $65,519.70 $391.98 $0.00 $370.46 $66,282.14
120 $66,282.14 $391.98 $0.00 $374.77 $67,048.89
121 $67,048.89 $391.98 $0.00 $379.10 $67,819.97
122 $67,819.97 $391.98 $0.00 $383.46 $68,595.41
123 $68,595.41 $391.98 $0.00 $387.85 $69,375.24
124 $69,375.24 $391.98 $0.00 $392.26 $70,159.48
125 $70,159.48 $391.98 $0.00 $396.69 $70,948.15
126 $70,948.15 $391.98 $0.00 $401.15 $71,741.28
127 $71,741.28 $391.98 $0.00 $405.64 $72,538.90
128 $72,538.90 $391.98 $0.00 $410.15 $73,341.03
129 $73,341.03 $391.98 $0.00 $414.68 $74,147.69
130 $74,147.69 $391.98 $0.00 $419.24 $74,958.91
131 $74,958.91 $391.98 $0.00 $423.83 $75,774.72
132 $75,774.72 $391.98 $0.00 $428.44 $76,595.14
133 $76,595.14 $391.98 $0.00 $433.08 $77,420.20
134 $77,420.20 $391.98 $0.00 $437.75 $78,249.93
135 $78,249.93 $391.98 $0.00 $442.44 $79,084.35
136 $79,084.35 $391.98 $0.00 $447.15 $79,923.48
137 $79,923.48 $391.98 $0.00 $451.90 $80,767.36
138 $80,767.36 $391.98 $0.00 $456.67 $81,616.01
139 $81,616.01 $391.98 $0.00 $461.47 $82,469.46
140 $82,469.46 $391.98 $0.00 $466.29 $83,327.73
141 $83,327.73 $391.98 $0.00 $471.15 $84,190.86
142 $84,190.86 $391.98 $0.00 $476.03 $85,058.87
143 $85,058.87 $391.98 $0.00 $480.94 $85,931.79
144 $85,931.79 $391.98 $0.00 $485.87 $86,809.64
145 $86,809.64 $391.98 $0.00 $490.83 $87,692.45
146 $87,692.45 $391.98 $0.00 $495.83 $88,580.26
147 $88,580.26 $391.98 $0.00 $500.85 $89,473.09
148 $89,473.09 $391.98 $0.00 $505.89 $90,370.96
149 $90,370.96 $391.98 $0.00 $510.97 $91,273.91
150 $91,273.91 $391.98 $0.00 $516.08 $92,181.97
151 $92,181.97 $391.98 $0.00 $521.21 $93,095.16
152 $93,095.16 $391.98 $0.00 $526.37 $94,013.51
153 $94,013.51 $391.98 $0.00 $531.57 $94,937.06
154 $94,937.06 $391.98 $0.00 $536.79 $95,865.83
155 $95,865.83 $391.98 $0.00 $542.04 $96,799.85
156 $96,799.85 $391.98 $0.00 $547.32 $97,739.15
157 $97,739.15 $391.98 $0.00 $552.63 $98,683.76
158 $98,683.76 $391.98 $0.00 $557.97 $99,633.71
159 $99,633.71 $391.98 $0.00 $563.34 $100,589.03
160 $100,589.03 $391.98 $0.00 $568.74 $101,549.75
161 $101,549.75 $391.98 $0.00 $574.18 $102,515.91
162 $102,515.91 $391.98 $0.00 $579.64 $103,487.53
163 $103,487.53 $391.98 $0.00 $585.13 $104,464.64
164 $104,464.64 $391.98 $0.00 $590.66 $105,447.28
165 $105,447.28 $391.98 $0.00 $596.21 $106,435.47
166 $106,435.47 $391.98 $0.00 $601.80 $107,429.25
167 $107,429.25 $391.98 $0.00 $607.42 $108,428.65
168 $108,428.65 $391.98 $0.00 $613.07 $109,433.70
169 $109,433.70 $391.98 $0.00 $618.75 $110,444.43
170 $110,444.43 $391.98 $0.00 $624.47 $111,460.88
171 $111,460.88 $391.98 $0.00 $630.22 $112,483.08
172 $112,483.08 $391.98 $0.00 $636.00 $113,511.06
173 $113,511.06 $391.98 $0.00 $641.81 $114,544.85
174 $114,544.85 $391.98 $0.00 $647.65 $115,584.48
175 $115,584.48 $391.98 $0.00 $653.53 $116,629.99
176 $116,629.99 $391.98 $0.00 $659.44 $117,681.41
177 $117,681.41 $391.98 $0.00 $665.39 $118,738.78
178 $118,738.78 $391.98 $0.00 $671.37 $119,802.13
179 $119,802.13 $391.98 $0.00 $677.38 $120,871.49
180 $120,871.49 $391.98 $0.00 $683.42 $121,946.89
181 $121,946.89 $391.98 $0.00 $689.51 $123,028.38
182 $123,028.38 $391.98 $0.00 $695.62 $124,115.98
183 $124,115.98 $391.98 $0.00 $701.77 $125,209.73
184 $125,209.73 $391.98 $0.00 $707.95 $126,309.66
185 $126,309.66 $391.98 $0.00 $714.17 $127,415.81
186 $127,415.81 $391.98 $0.00 $720.43 $128,528.22
187 $128,528.22 $391.98 $0.00 $726.72 $129,646.92
188 $129,646.92 $391.98 $0.00 $733.04 $130,771.94
189 $130,771.94 $391.98 $0.00 $739.40 $131,903.32
190 $131,903.32 $391.98 $0.00 $745.80 $133,041.10
191 $133,041.10 $391.98 $0.00 $752.23 $134,185.31
192 $134,185.31 $391.98 $0.00 $758.70 $135,335.99
193 $135,335.99 $391.98 $0.00 $765.21 $136,493.18
194 $136,493.18 $391.98 $0.00 $771.75 $137,656.91
195 $137,656.91 $391.98 $0.00 $778.33 $138,827.22
196 $138,827.22 $391.98 $0.00 $784.95 $140,004.15
197 $140,004.15 $391.98 $0.00 $791.60 $141,187.73
198 $141,187.73 $391.98 $0.00 $798.30 $142,378.01
199 $142,378.01 $391.98 $0.00 $805.03 $143,575.02
200 $143,575.02 $391.98 $0.00 $811.79 $144,778.79
201 $144,778.79 $391.98 $0.00 $818.60 $145,989.37
202 $145,989.37 $391.98 $0.00 $825.45 $147,206.80
203 $147,206.80 $391.98 $0.00 $832.33 $148,431.11
204 $148,431.11 $391.98 $0.00 $839.25 $149,662.34
205 $149,662.34 $391.98 $0.00 $846.21 $150,900.53
206 $150,900.53 $391.98 $0.00 $853.21 $152,145.72
207 $152,145.72 $391.98 $0.00 $860.25 $153,397.95
208 $153,397.95 $391.98 $0.00 $867.33 $154,657.26
209 $154,657.26 $391.98 $0.00 $874.45 $155,923.69
210 $155,923.69 $391.98 $0.00 $881.62 $157,197.29
211 $157,197.29 $391.98 $0.00 $888.82 $158,478.09
212 $158,478.09 $391.98 $0.00 $896.06 $159,766.13
213 $159,766.13 $391.98 $0.00 $903.34 $161,061.45
214 $161,061.45 $391.98 $0.00 $910.66 $162,364.09
215 $162,364.09 $391.98 $0.00 $918.03 $163,674.10
216 $163,674.10 $391.98 $0.00 $925.44 $164,991.52
217 $164,991.52 $391.98 $85,241.89 $932.89 $81,074.50
218 $81,074.50 $391.98 $0.00 $458.41 $81,924.89
219 $81,924.89 $391.98 $0.00 $463.22 $82,780.09
220 $82,780.09 $391.98 $0.00 $468.05 $83,640.12
221 $83,640.12 $391.98 $0.00 $472.91 $84,505.01
222 $84,505.01 $391.98 $0.00 $477.80 $85,374.79
223 $85,374.79 $391.98 $0.00 $482.72 $86,249.49
224 $86,249.49 $391.98 $0.00 $487.67 $87,129.14
225 $87,129.14 $391.98 $0.00 $492.64 $88,013.76
226 $88,013.76 $391.98 $0.00 $497.64 $88,903.38
227 $88,903.38 $391.98 $0.00 $502.67 $89,798.03
228 $89,798.03 $391.98 $0.00 $507.73 $90,697.74
229 $90,697.74 $0.00 $91,208.82 $512.82 $1.74