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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$59,299
Monthly savings required$264

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 $118,598.08 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $263.54 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$24,039.00
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 $263.54 $0.00 $0.00 $263.54
2 $263.54 $263.54 $0.00 $1.49 $528.57
3 $528.57 $263.54 $0.00 $2.99 $795.10
4 $795.10 $263.54 $0.00 $4.50 $1,063.14
5 $1,063.14 $263.54 $0.00 $6.01 $1,332.69
6 $1,332.69 $263.54 $0.00 $7.54 $1,603.77
7 $1,603.77 $263.54 $0.00 $9.07 $1,876.38
8 $1,876.38 $263.54 $0.00 $10.61 $2,150.53
9 $2,150.53 $263.54 $0.00 $12.16 $2,426.23
10 $2,426.23 $263.54 $0.00 $13.72 $2,703.49
11 $2,703.49 $263.54 $0.00 $15.29 $2,982.32
12 $2,982.32 $263.54 $0.00 $16.86 $3,262.72
13 $3,262.72 $263.54 $0.00 $18.45 $3,544.71
14 $3,544.71 $263.54 $0.00 $20.04 $3,828.29
15 $3,828.29 $263.54 $0.00 $21.65 $4,113.48
16 $4,113.48 $263.54 $0.00 $23.26 $4,400.28
17 $4,400.28 $263.54 $0.00 $24.88 $4,688.70
18 $4,688.70 $263.54 $0.00 $26.51 $4,978.75
19 $4,978.75 $263.54 $0.00 $28.15 $5,270.44
20 $5,270.44 $263.54 $0.00 $29.80 $5,563.78
21 $5,563.78 $263.54 $0.00 $31.46 $5,858.78
22 $5,858.78 $263.54 $0.00 $33.13 $6,155.45
23 $6,155.45 $263.54 $0.00 $34.80 $6,453.79
24 $6,453.79 $263.54 $0.00 $36.49 $6,753.82
25 $6,753.82 $263.54 $0.00 $38.19 $7,055.55
26 $7,055.55 $263.54 $0.00 $39.89 $7,358.98
27 $7,358.98 $263.54 $0.00 $41.61 $7,664.13
28 $7,664.13 $263.54 $0.00 $43.33 $7,971.00
29 $7,971.00 $263.54 $0.00 $45.07 $8,279.61
30 $8,279.61 $263.54 $0.00 $46.81 $8,589.96
31 $8,589.96 $263.54 $0.00 $48.57 $8,902.07
32 $8,902.07 $263.54 $0.00 $50.33 $9,215.94
33 $9,215.94 $263.54 $0.00 $52.11 $9,531.59
34 $9,531.59 $263.54 $0.00 $53.89 $9,849.02
35 $9,849.02 $263.54 $0.00 $55.69 $10,168.25
36 $10,168.25 $263.54 $0.00 $57.49 $10,489.28
37 $10,489.28 $263.54 $0.00 $59.31 $10,812.13
38 $10,812.13 $263.54 $0.00 $61.13 $11,136.80
39 $11,136.80 $263.54 $0.00 $62.97 $11,463.31
40 $11,463.31 $263.54 $0.00 $64.82 $11,791.67
41 $11,791.67 $263.54 $0.00 $66.67 $12,121.88
42 $12,121.88 $263.54 $0.00 $68.54 $12,453.96
43 $12,453.96 $263.54 $0.00 $70.42 $12,787.92
44 $12,787.92 $263.54 $0.00 $72.30 $13,123.76
45 $13,123.76 $263.54 $0.00 $74.20 $13,461.50
46 $13,461.50 $263.54 $0.00 $76.11 $13,801.15
47 $13,801.15 $263.54 $0.00 $78.03 $14,142.72
48 $14,142.72 $263.54 $0.00 $79.96 $14,486.22
49 $14,486.22 $263.54 $0.00 $81.91 $14,831.67
50 $14,831.67 $263.54 $0.00 $83.86 $15,179.07
51 $15,179.07 $263.54 $0.00 $85.82 $15,528.43
52 $15,528.43 $263.54 $0.00 $87.80 $15,879.77
53 $15,879.77 $263.54 $0.00 $89.79 $16,233.10
54 $16,233.10 $263.54 $0.00 $91.78 $16,588.42
55 $16,588.42 $263.54 $0.00 $93.79 $16,945.75
56 $16,945.75 $263.54 $0.00 $95.81 $17,305.10
57 $17,305.10 $263.54 $0.00 $97.85 $17,666.49
58 $17,666.49 $263.54 $0.00 $99.89 $18,029.92
59 $18,029.92 $263.54 $0.00 $101.94 $18,395.40
60 $18,395.40 $263.54 $0.00 $104.01 $18,762.95
61 $18,762.95 $263.54 $0.00 $106.09 $19,132.58
62 $19,132.58 $263.54 $0.00 $108.18 $19,504.30
63 $19,504.30 $263.54 $0.00 $110.28 $19,878.12
64 $19,878.12 $263.54 $0.00 $112.39 $20,254.05
65 $20,254.05 $263.54 $0.00 $114.52 $20,632.11
66 $20,632.11 $263.54 $0.00 $116.66 $21,012.31
67 $21,012.31 $263.54 $0.00 $118.81 $21,394.66
68 $21,394.66 $263.54 $0.00 $120.97 $21,779.17
69 $21,779.17 $263.54 $0.00 $123.14 $22,165.85
70 $22,165.85 $263.54 $0.00 $125.33 $22,554.72
71 $22,554.72 $263.54 $0.00 $127.53 $22,945.79
72 $22,945.79 $263.54 $0.00 $129.74 $23,339.07
73 $23,339.07 $263.54 $0.00 $131.96 $23,734.57
74 $23,734.57 $263.54 $0.00 $134.20 $24,132.31
75 $24,132.31 $263.54 $0.00 $136.45 $24,532.30
76 $24,532.30 $263.54 $0.00 $138.71 $24,934.55
77 $24,934.55 $263.54 $0.00 $140.98 $25,339.07
78 $25,339.07 $263.54 $0.00 $143.27 $25,745.88
79 $25,745.88 $263.54 $0.00 $145.57 $26,154.99
80 $26,154.99 $263.54 $0.00 $147.88 $26,566.41
81 $26,566.41 $263.54 $0.00 $150.21 $26,980.16
82 $26,980.16 $263.54 $0.00 $152.55 $27,396.25
83 $27,396.25 $263.54 $0.00 $154.90 $27,814.69
84 $27,814.69 $263.54 $0.00 $157.27 $28,235.50
85 $28,235.50 $263.54 $0.00 $159.65 $28,658.69
86 $28,658.69 $263.54 $0.00 $162.04 $29,084.27
87 $29,084.27 $263.54 $0.00 $164.45 $29,512.26
88 $29,512.26 $263.54 $0.00 $166.87 $29,942.67
89 $29,942.67 $263.54 $0.00 $169.30 $30,375.51
90 $30,375.51 $263.54 $0.00 $171.75 $30,810.80
91 $30,810.80 $263.54 $0.00 $174.21 $31,248.55
92 $31,248.55 $263.54 $0.00 $176.68 $31,688.77
93 $31,688.77 $263.54 $0.00 $179.17 $32,131.48
94 $32,131.48 $263.54 $0.00 $181.68 $32,576.70
95 $32,576.70 $263.54 $0.00 $184.19 $33,024.43
96 $33,024.43 $263.54 $0.00 $186.72 $33,474.69
97 $33,474.69 $263.54 $0.00 $189.27 $33,927.50
98 $33,927.50 $263.54 $0.00 $191.83 $34,382.87
99 $34,382.87 $263.54 $0.00 $194.41 $34,840.82
100 $34,840.82 $263.54 $0.00 $197.00 $35,301.36
101 $35,301.36 $263.54 $0.00 $199.60 $35,764.50
102 $35,764.50 $263.54 $0.00 $202.22 $36,230.26
103 $36,230.26 $263.54 $0.00 $204.85 $36,698.65
104 $36,698.65 $263.54 $0.00 $207.50 $37,169.69
105 $37,169.69 $263.54 $0.00 $210.16 $37,643.39
106 $37,643.39 $263.54 $0.00 $212.84 $38,119.77
107 $38,119.77 $263.54 $0.00 $215.53 $38,598.84
108 $38,598.84 $263.54 $0.00 $218.24 $39,080.62
109 $39,080.62 $263.54 $0.00 $220.97 $39,565.13
110 $39,565.13 $263.54 $0.00 $223.71 $40,052.38
111 $40,052.38 $263.54 $0.00 $226.46 $40,542.38
112 $40,542.38 $263.54 $0.00 $229.23 $41,035.15
113 $41,035.15 $263.54 $0.00 $232.02 $41,530.71
114 $41,530.71 $263.54 $0.00 $234.82 $42,029.07
115 $42,029.07 $263.54 $0.00 $237.64 $42,530.25
116 $42,530.25 $263.54 $0.00 $240.47 $43,034.26
117 $43,034.26 $263.54 $0.00 $243.32 $43,541.12
118 $43,541.12 $263.54 $0.00 $246.19 $44,050.85
119 $44,050.85 $263.54 $0.00 $249.07 $44,563.46
120 $44,563.46 $263.54 $0.00 $251.97 $45,078.97
121 $45,078.97 $263.54 $0.00 $254.88 $45,597.39
122 $45,597.39 $263.54 $0.00 $257.81 $46,118.74
123 $46,118.74 $263.54 $0.00 $260.76 $46,643.04
124 $46,643.04 $263.54 $0.00 $263.73 $47,170.31
125 $47,170.31 $263.54 $0.00 $266.71 $47,700.56
126 $47,700.56 $263.54 $0.00 $269.71 $48,233.81
127 $48,233.81 $263.54 $0.00 $272.72 $48,770.07
128 $48,770.07 $263.54 $0.00 $275.75 $49,309.36
129 $49,309.36 $263.54 $0.00 $278.80 $49,851.70
130 $49,851.70 $263.54 $0.00 $281.87 $50,397.11
131 $50,397.11 $263.54 $0.00 $284.95 $50,945.60
132 $50,945.60 $263.54 $0.00 $288.05 $51,497.19
133 $51,497.19 $263.54 $0.00 $291.17 $52,051.90
134 $52,051.90 $263.54 $0.00 $294.31 $52,609.75
135 $52,609.75 $263.54 $0.00 $297.46 $53,170.75
136 $53,170.75 $263.54 $0.00 $300.64 $53,734.93
137 $53,734.93 $263.54 $0.00 $303.83 $54,302.30
138 $54,302.30 $263.54 $0.00 $307.03 $54,872.87
139 $54,872.87 $263.54 $0.00 $310.26 $55,446.67
140 $55,446.67 $263.54 $0.00 $313.50 $56,023.71
141 $56,023.71 $263.54 $0.00 $316.77 $56,604.02
142 $56,604.02 $263.54 $0.00 $320.05 $57,187.61
143 $57,187.61 $263.54 $0.00 $323.35 $57,774.50
144 $57,774.50 $263.54 $0.00 $326.67 $58,364.71
145 $58,364.71 $263.54 $0.00 $330.00 $58,958.25
146 $58,958.25 $263.54 $0.00 $333.36 $59,555.15
147 $59,555.15 $263.54 $0.00 $336.73 $60,155.42
148 $60,155.42 $263.54 $0.00 $340.13 $60,759.09
149 $60,759.09 $263.54 $0.00 $343.54 $61,366.17
150 $61,366.17 $263.54 $0.00 $346.97 $61,976.68
151 $61,976.68 $263.54 $0.00 $350.43 $62,590.65
152 $62,590.65 $263.54 $0.00 $353.90 $63,208.09
153 $63,208.09 $263.54 $0.00 $357.39 $63,829.02
154 $63,829.02 $263.54 $0.00 $360.90 $64,453.46
155 $64,453.46 $263.54 $0.00 $364.43 $65,081.43
156 $65,081.43 $263.54 $0.00 $367.98 $65,712.95
157 $65,712.95 $263.54 $0.00 $371.55 $66,348.04
158 $66,348.04 $263.54 $0.00 $375.14 $66,986.72
159 $66,986.72 $263.54 $0.00 $378.75 $67,629.01
160 $67,629.01 $263.54 $0.00 $382.38 $68,274.93
161 $68,274.93 $263.54 $0.00 $386.04 $68,924.51
162 $68,924.51 $263.54 $0.00 $389.71 $69,577.76
163 $69,577.76 $263.54 $0.00 $393.40 $70,234.70
164 $70,234.70 $263.54 $0.00 $397.12 $70,895.36
165 $70,895.36 $263.54 $0.00 $400.85 $71,559.75
166 $71,559.75 $263.54 $0.00 $404.61 $72,227.90
167 $72,227.90 $263.54 $0.00 $408.39 $72,899.83
168 $72,899.83 $263.54 $0.00 $412.19 $73,575.56
169 $73,575.56 $263.54 $0.00 $416.01 $74,255.11
170 $74,255.11 $263.54 $0.00 $419.85 $74,938.50
171 $74,938.50 $263.54 $0.00 $423.71 $75,625.75
172 $75,625.75 $263.54 $0.00 $427.60 $76,316.89
173 $76,316.89 $263.54 $0.00 $431.51 $77,011.94
174 $77,011.94 $263.54 $0.00 $435.44 $77,710.92
175 $77,710.92 $263.54 $0.00 $439.39 $78,413.85
176 $78,413.85 $263.54 $0.00 $443.36 $79,120.75
177 $79,120.75 $263.54 $0.00 $447.36 $79,831.65
178 $79,831.65 $263.54 $0.00 $451.38 $80,546.57
179 $80,546.57 $263.54 $0.00 $455.42 $81,265.53
180 $81,265.53 $263.54 $0.00 $459.49 $81,988.56
181 $81,988.56 $263.54 $0.00 $463.58 $82,715.68
182 $82,715.68 $263.54 $0.00 $467.69 $83,446.91
183 $83,446.91 $263.54 $0.00 $471.82 $84,182.27
184 $84,182.27 $263.54 $0.00 $475.98 $84,921.79
185 $84,921.79 $263.54 $0.00 $480.16 $85,665.49
186 $85,665.49 $263.54 $0.00 $484.37 $86,413.40
187 $86,413.40 $263.54 $0.00 $488.59 $87,165.53
188 $87,165.53 $263.54 $0.00 $492.85 $87,921.92
189 $87,921.92 $263.54 $0.00 $497.12 $88,682.58
190 $88,682.58 $263.54 $0.00 $501.42 $89,447.54
191 $89,447.54 $263.54 $0.00 $505.75 $90,216.83
192 $90,216.83 $263.54 $0.00 $510.10 $90,990.47
193 $90,990.47 $263.54 $0.00 $514.47 $91,768.48
194 $91,768.48 $263.54 $0.00 $518.87 $92,550.89
195 $92,550.89 $263.54 $0.00 $523.30 $93,337.73
196 $93,337.73 $263.54 $0.00 $527.75 $94,129.02
197 $94,129.02 $263.54 $0.00 $532.22 $94,924.78
198 $94,924.78 $263.54 $0.00 $536.72 $95,725.04
199 $95,725.04 $263.54 $0.00 $541.24 $96,529.82
200 $96,529.82 $263.54 $0.00 $545.79 $97,339.15
201 $97,339.15 $263.54 $0.00 $550.37 $98,153.06
202 $98,153.06 $263.54 $0.00 $554.97 $98,971.57
203 $98,971.57 $263.54 $0.00 $559.60 $99,794.71
204 $99,794.71 $263.54 $0.00 $564.25 $100,622.50
205 $100,622.50 $263.54 $0.00 $568.93 $101,454.97
206 $101,454.97 $263.54 $0.00 $573.64 $102,292.15
207 $102,292.15 $263.54 $0.00 $578.37 $103,134.06
208 $103,134.06 $263.54 $0.00 $583.13 $103,980.73
209 $103,980.73 $263.54 $0.00 $587.92 $104,832.19
210 $104,832.19 $263.54 $0.00 $592.74 $105,688.47
211 $105,688.47 $263.54 $0.00 $597.58 $106,549.59
212 $106,549.59 $263.54 $0.00 $602.45 $107,415.58
213 $107,415.58 $263.54 $0.00 $607.34 $108,286.46
214 $108,286.46 $263.54 $0.00 $612.27 $109,162.27
215 $109,162.27 $263.54 $0.00 $617.22 $110,043.03
216 $110,043.03 $263.54 $0.00 $622.20 $110,928.77
217 $110,928.77 $263.54 $57,852.72 $627.21 $53,966.80
218 $53,966.80 $263.54 $0.00 $305.14 $54,535.48
219 $54,535.48 $263.54 $0.00 $308.35 $55,107.37
220 $55,107.37 $263.54 $0.00 $311.59 $55,682.50
221 $55,682.50 $263.54 $0.00 $314.84 $56,260.88
222 $56,260.88 $263.54 $0.00 $318.11 $56,842.53
223 $56,842.53 $263.54 $0.00 $321.40 $57,427.47
224 $57,427.47 $263.54 $0.00 $324.70 $58,015.71
225 $58,015.71 $263.54 $0.00 $328.03 $58,607.28
226 $58,607.28 $263.54 $0.00 $331.37 $59,202.19
227 $59,202.19 $263.54 $0.00 $334.74 $59,800.47
228 $59,800.47 $263.54 $0.00 $338.12 $60,402.13
229 $60,402.13 $0.00 $60,745.36 $341.52 ($1.71)