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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$60,153
Monthly savings required$267

How much will it cost to send your child to Sauk Valley Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $120,305.09 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $267.34 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$24,385.00
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 $267.34 $0.00 $0.00 $267.34
2 $267.34 $267.34 $0.00 $1.51 $536.19
3 $536.19 $267.34 $0.00 $3.03 $806.56
4 $806.56 $267.34 $0.00 $4.56 $1,078.46
5 $1,078.46 $267.34 $0.00 $6.10 $1,351.90
6 $1,351.90 $267.34 $0.00 $7.64 $1,626.88
7 $1,626.88 $267.34 $0.00 $9.20 $1,903.42
8 $1,903.42 $267.34 $0.00 $10.76 $2,181.52
9 $2,181.52 $267.34 $0.00 $12.33 $2,461.19
10 $2,461.19 $267.34 $0.00 $13.92 $2,742.45
11 $2,742.45 $267.34 $0.00 $15.51 $3,025.30
12 $3,025.30 $267.34 $0.00 $17.11 $3,309.75
13 $3,309.75 $267.34 $0.00 $18.71 $3,595.80
14 $3,595.80 $267.34 $0.00 $20.33 $3,883.47
15 $3,883.47 $267.34 $0.00 $21.96 $4,172.77
16 $4,172.77 $267.34 $0.00 $23.59 $4,463.70
17 $4,463.70 $267.34 $0.00 $25.24 $4,756.28
18 $4,756.28 $267.34 $0.00 $26.89 $5,050.51
19 $5,050.51 $267.34 $0.00 $28.56 $5,346.41
20 $5,346.41 $267.34 $0.00 $30.23 $5,643.98
21 $5,643.98 $267.34 $0.00 $31.91 $5,943.23
22 $5,943.23 $267.34 $0.00 $33.60 $6,244.17
23 $6,244.17 $267.34 $0.00 $35.31 $6,546.82
24 $6,546.82 $267.34 $0.00 $37.02 $6,851.18
25 $6,851.18 $267.34 $0.00 $38.74 $7,157.26
26 $7,157.26 $267.34 $0.00 $40.47 $7,465.07
27 $7,465.07 $267.34 $0.00 $42.21 $7,774.62
28 $7,774.62 $267.34 $0.00 $43.96 $8,085.92
29 $8,085.92 $267.34 $0.00 $45.72 $8,398.98
30 $8,398.98 $267.34 $0.00 $47.49 $8,713.81
31 $8,713.81 $267.34 $0.00 $49.27 $9,030.42
32 $9,030.42 $267.34 $0.00 $51.06 $9,348.82
33 $9,348.82 $267.34 $0.00 $52.86 $9,669.02
34 $9,669.02 $267.34 $0.00 $54.67 $9,991.03
35 $9,991.03 $267.34 $0.00 $56.49 $10,314.86
36 $10,314.86 $267.34 $0.00 $58.32 $10,640.52
37 $10,640.52 $267.34 $0.00 $60.16 $10,968.02
38 $10,968.02 $267.34 $0.00 $62.01 $11,297.37
39 $11,297.37 $267.34 $0.00 $63.88 $11,628.59
40 $11,628.59 $267.34 $0.00 $65.75 $11,961.68
41 $11,961.68 $267.34 $0.00 $67.63 $12,296.65
42 $12,296.65 $267.34 $0.00 $69.53 $12,633.52
43 $12,633.52 $267.34 $0.00 $71.43 $12,972.29
44 $12,972.29 $267.34 $0.00 $73.35 $13,312.98
45 $13,312.98 $267.34 $0.00 $75.27 $13,655.59
46 $13,655.59 $267.34 $0.00 $77.21 $14,000.14
47 $14,000.14 $267.34 $0.00 $79.16 $14,346.64
48 $14,346.64 $267.34 $0.00 $81.12 $14,695.10
49 $14,695.10 $267.34 $0.00 $83.09 $15,045.53
50 $15,045.53 $267.34 $0.00 $85.07 $15,397.94
51 $15,397.94 $267.34 $0.00 $87.06 $15,752.34
52 $15,752.34 $267.34 $0.00 $89.07 $16,108.75
53 $16,108.75 $267.34 $0.00 $91.08 $16,467.17
54 $16,467.17 $267.34 $0.00 $93.11 $16,827.62
55 $16,827.62 $267.34 $0.00 $95.15 $17,190.11
56 $17,190.11 $267.34 $0.00 $97.20 $17,554.65
57 $17,554.65 $267.34 $0.00 $99.26 $17,921.25
58 $17,921.25 $267.34 $0.00 $101.33 $18,289.92
59 $18,289.92 $267.34 $0.00 $103.41 $18,660.67
60 $18,660.67 $267.34 $0.00 $105.51 $19,033.52
61 $19,033.52 $267.34 $0.00 $107.62 $19,408.48
62 $19,408.48 $267.34 $0.00 $109.74 $19,785.56
63 $19,785.56 $267.34 $0.00 $111.87 $20,164.77
64 $20,164.77 $267.34 $0.00 $114.01 $20,546.12
65 $20,546.12 $267.34 $0.00 $116.17 $20,929.63
66 $20,929.63 $267.34 $0.00 $118.34 $21,315.31
67 $21,315.31 $267.34 $0.00 $120.52 $21,703.17
68 $21,703.17 $267.34 $0.00 $122.71 $22,093.22
69 $22,093.22 $267.34 $0.00 $124.92 $22,485.48
70 $22,485.48 $267.34 $0.00 $127.14 $22,879.96
71 $22,879.96 $267.34 $0.00 $129.37 $23,276.67
72 $23,276.67 $267.34 $0.00 $131.61 $23,675.62
73 $23,675.62 $267.34 $0.00 $133.87 $24,076.83
74 $24,076.83 $267.34 $0.00 $136.13 $24,480.30
75 $24,480.30 $267.34 $0.00 $138.42 $24,886.06
76 $24,886.06 $267.34 $0.00 $140.71 $25,294.11
77 $25,294.11 $267.34 $0.00 $143.02 $25,704.47
78 $25,704.47 $267.34 $0.00 $145.34 $26,117.15
79 $26,117.15 $267.34 $0.00 $147.67 $26,532.16
80 $26,532.16 $267.34 $0.00 $150.02 $26,949.52
81 $26,949.52 $267.34 $0.00 $152.38 $27,369.24
82 $27,369.24 $267.34 $0.00 $154.75 $27,791.33
83 $27,791.33 $267.34 $0.00 $157.14 $28,215.81
84 $28,215.81 $267.34 $0.00 $159.54 $28,642.69
85 $28,642.69 $267.34 $0.00 $161.95 $29,071.98
86 $29,071.98 $267.34 $0.00 $164.38 $29,503.70
87 $29,503.70 $267.34 $0.00 $166.82 $29,937.86
88 $29,937.86 $267.34 $0.00 $169.27 $30,374.47
89 $30,374.47 $267.34 $0.00 $171.74 $30,813.55
90 $30,813.55 $267.34 $0.00 $174.22 $31,255.11
91 $31,255.11 $267.34 $0.00 $176.72 $31,699.17
92 $31,699.17 $267.34 $0.00 $179.23 $32,145.74
93 $32,145.74 $267.34 $0.00 $181.76 $32,594.84
94 $32,594.84 $267.34 $0.00 $184.30 $33,046.48
95 $33,046.48 $267.34 $0.00 $186.85 $33,500.67
96 $33,500.67 $267.34 $0.00 $189.42 $33,957.43
97 $33,957.43 $267.34 $0.00 $192.00 $34,416.77
98 $34,416.77 $267.34 $0.00 $194.60 $34,878.71
99 $34,878.71 $267.34 $0.00 $197.21 $35,343.26
100 $35,343.26 $267.34 $0.00 $199.84 $35,810.44
101 $35,810.44 $267.34 $0.00 $202.48 $36,280.26
102 $36,280.26 $267.34 $0.00 $205.13 $36,752.73
103 $36,752.73 $267.34 $0.00 $207.81 $37,227.88
104 $37,227.88 $267.34 $0.00 $210.49 $37,705.71
105 $37,705.71 $267.34 $0.00 $213.19 $38,186.24
106 $38,186.24 $267.34 $0.00 $215.91 $38,669.49
107 $38,669.49 $267.34 $0.00 $218.64 $39,155.47
108 $39,155.47 $267.34 $0.00 $221.39 $39,644.20
109 $39,644.20 $267.34 $0.00 $224.15 $40,135.69
110 $40,135.69 $267.34 $0.00 $226.93 $40,629.96
111 $40,629.96 $267.34 $0.00 $229.73 $41,127.03
112 $41,127.03 $267.34 $0.00 $232.54 $41,626.91
113 $41,626.91 $267.34 $0.00 $235.36 $42,129.61
114 $42,129.61 $267.34 $0.00 $238.21 $42,635.16
115 $42,635.16 $267.34 $0.00 $241.07 $43,143.57
116 $43,143.57 $267.34 $0.00 $243.94 $43,654.85
117 $43,654.85 $267.34 $0.00 $246.83 $44,169.02
118 $44,169.02 $267.34 $0.00 $249.74 $44,686.10
119 $44,686.10 $267.34 $0.00 $252.66 $45,206.10
120 $45,206.10 $267.34 $0.00 $255.60 $45,729.04
121 $45,729.04 $267.34 $0.00 $258.56 $46,254.94
122 $46,254.94 $267.34 $0.00 $261.53 $46,783.81
123 $46,783.81 $267.34 $0.00 $264.52 $47,315.67
124 $47,315.67 $267.34 $0.00 $267.53 $47,850.54
125 $47,850.54 $267.34 $0.00 $270.55 $48,388.43
126 $48,388.43 $267.34 $0.00 $273.60 $48,929.37
127 $48,929.37 $267.34 $0.00 $276.65 $49,473.36
128 $49,473.36 $267.34 $0.00 $279.73 $50,020.43
129 $50,020.43 $267.34 $0.00 $282.82 $50,570.59
130 $50,570.59 $267.34 $0.00 $285.93 $51,123.86
131 $51,123.86 $267.34 $0.00 $289.06 $51,680.26
132 $51,680.26 $267.34 $0.00 $292.21 $52,239.81
133 $52,239.81 $267.34 $0.00 $295.37 $52,802.52
134 $52,802.52 $267.34 $0.00 $298.55 $53,368.41
135 $53,368.41 $267.34 $0.00 $301.75 $53,937.50
136 $53,937.50 $267.34 $0.00 $304.97 $54,509.81
137 $54,509.81 $267.34 $0.00 $308.21 $55,085.36
138 $55,085.36 $267.34 $0.00 $311.46 $55,664.16
139 $55,664.16 $267.34 $0.00 $314.73 $56,246.23
140 $56,246.23 $267.34 $0.00 $318.02 $56,831.59
141 $56,831.59 $267.34 $0.00 $321.33 $57,420.26
142 $57,420.26 $267.34 $0.00 $324.66 $58,012.26
143 $58,012.26 $267.34 $0.00 $328.01 $58,607.61
144 $58,607.61 $267.34 $0.00 $331.38 $59,206.33
145 $59,206.33 $267.34 $0.00 $334.76 $59,808.43
146 $59,808.43 $267.34 $0.00 $338.17 $60,413.94
147 $60,413.94 $267.34 $0.00 $341.59 $61,022.87
148 $61,022.87 $267.34 $0.00 $345.03 $61,635.24
149 $61,635.24 $267.34 $0.00 $348.49 $62,251.07
150 $62,251.07 $267.34 $0.00 $351.98 $62,870.39
151 $62,870.39 $267.34 $0.00 $355.48 $63,493.21
152 $63,493.21 $267.34 $0.00 $359.00 $64,119.55
153 $64,119.55 $267.34 $0.00 $362.54 $64,749.43
154 $64,749.43 $267.34 $0.00 $366.10 $65,382.87
155 $65,382.87 $267.34 $0.00 $369.68 $66,019.89
156 $66,019.89 $267.34 $0.00 $373.29 $66,660.52
157 $66,660.52 $267.34 $0.00 $376.91 $67,304.77
158 $67,304.77 $267.34 $0.00 $380.55 $67,952.66
159 $67,952.66 $267.34 $0.00 $384.21 $68,604.21
160 $68,604.21 $267.34 $0.00 $387.90 $69,259.45
161 $69,259.45 $267.34 $0.00 $391.60 $69,918.39
162 $69,918.39 $267.34 $0.00 $395.33 $70,581.06
163 $70,581.06 $267.34 $0.00 $399.08 $71,247.48
164 $71,247.48 $267.34 $0.00 $402.84 $71,917.66
165 $71,917.66 $267.34 $0.00 $406.63 $72,591.63
166 $72,591.63 $267.34 $0.00 $410.44 $73,269.41
167 $73,269.41 $267.34 $0.00 $414.28 $73,951.03
168 $73,951.03 $267.34 $0.00 $418.13 $74,636.50
169 $74,636.50 $267.34 $0.00 $422.01 $75,325.85
170 $75,325.85 $267.34 $0.00 $425.90 $76,019.09
171 $76,019.09 $267.34 $0.00 $429.82 $76,716.25
172 $76,716.25 $267.34 $0.00 $433.76 $77,417.35
173 $77,417.35 $267.34 $0.00 $437.73 $78,122.42
174 $78,122.42 $267.34 $0.00 $441.72 $78,831.48
175 $78,831.48 $267.34 $0.00 $445.72 $79,544.54
176 $79,544.54 $267.34 $0.00 $449.76 $80,261.64
177 $80,261.64 $267.34 $0.00 $453.81 $80,982.79
178 $80,982.79 $267.34 $0.00 $457.89 $81,708.02
179 $81,708.02 $267.34 $0.00 $461.99 $82,437.35
180 $82,437.35 $267.34 $0.00 $466.11 $83,170.80
181 $83,170.80 $267.34 $0.00 $470.26 $83,908.40
182 $83,908.40 $267.34 $0.00 $474.43 $84,650.17
183 $84,650.17 $267.34 $0.00 $478.62 $85,396.13
184 $85,396.13 $267.34 $0.00 $482.84 $86,146.31
185 $86,146.31 $267.34 $0.00 $487.08 $86,900.73
186 $86,900.73 $267.34 $0.00 $491.35 $87,659.42
187 $87,659.42 $267.34 $0.00 $495.64 $88,422.40
188 $88,422.40 $267.34 $0.00 $499.95 $89,189.69
189 $89,189.69 $267.34 $0.00 $504.29 $89,961.32
190 $89,961.32 $267.34 $0.00 $508.65 $90,737.31
191 $90,737.31 $267.34 $0.00 $513.04 $91,517.69
192 $91,517.69 $267.34 $0.00 $517.45 $92,302.48
193 $92,302.48 $267.34 $0.00 $521.89 $93,091.71
194 $93,091.71 $267.34 $0.00 $526.35 $93,885.40
195 $93,885.40 $267.34 $0.00 $530.84 $94,683.58
196 $94,683.58 $267.34 $0.00 $535.35 $95,486.27
197 $95,486.27 $267.34 $0.00 $539.89 $96,293.50
198 $96,293.50 $267.34 $0.00 $544.46 $97,105.30
199 $97,105.30 $267.34 $0.00 $549.05 $97,921.69
200 $97,921.69 $267.34 $0.00 $553.66 $98,742.69
201 $98,742.69 $267.34 $0.00 $558.31 $99,568.34
202 $99,568.34 $267.34 $0.00 $562.97 $100,398.65
203 $100,398.65 $267.34 $0.00 $567.67 $101,233.66
204 $101,233.66 $267.34 $0.00 $572.39 $102,073.39
205 $102,073.39 $267.34 $0.00 $577.14 $102,917.87
206 $102,917.87 $267.34 $0.00 $581.91 $103,767.12
207 $103,767.12 $267.34 $0.00 $586.71 $104,621.17
208 $104,621.17 $267.34 $0.00 $591.54 $105,480.05
209 $105,480.05 $267.34 $0.00 $596.40 $106,343.79
210 $106,343.79 $267.34 $0.00 $601.28 $107,212.41
211 $107,212.41 $267.34 $0.00 $606.19 $108,085.94
212 $108,085.94 $267.34 $0.00 $611.13 $108,964.41
213 $108,964.41 $267.34 $0.00 $616.10 $109,847.85
214 $109,847.85 $267.34 $0.00 $621.10 $110,736.29
215 $110,736.29 $267.34 $0.00 $626.12 $111,629.75
216 $111,629.75 $267.34 $0.00 $631.17 $112,528.26
217 $112,528.26 $267.34 $58,685.41 $636.25 $54,746.44
218 $54,746.44 $267.34 $0.00 $309.54 $55,323.32
219 $55,323.32 $267.34 $0.00 $312.81 $55,903.47
220 $55,903.47 $267.34 $0.00 $316.09 $56,486.90
221 $56,486.90 $267.34 $0.00 $319.39 $57,073.63
222 $57,073.63 $267.34 $0.00 $322.70 $57,663.67
223 $57,663.67 $267.34 $0.00 $326.04 $58,257.05
224 $58,257.05 $267.34 $0.00 $329.39 $58,853.78
225 $58,853.78 $267.34 $0.00 $332.77 $59,453.89
226 $59,453.89 $267.34 $0.00 $336.16 $60,057.39
227 $60,057.39 $267.34 $0.00 $339.57 $60,664.30
228 $60,664.30 $267.34 $0.00 $343.00 $61,274.64
229 $61,274.64 $0.00 $61,619.68 $346.46 $1.42