Savings Plan and Future Cost Estimation for Spoon River College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$49,064
Monthly savings required$218

How much will it cost to send your child to Spoon River College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $98,128.70 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $218.05 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$19,890.00
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 $218.05 $0.00 $0.00 $218.05
2 $218.05 $218.05 $0.00 $1.23 $437.33
3 $437.33 $218.05 $0.00 $2.47 $657.85
4 $657.85 $218.05 $0.00 $3.72 $879.62
5 $879.62 $218.05 $0.00 $4.97 $1,102.64
6 $1,102.64 $218.05 $0.00 $6.23 $1,326.92
7 $1,326.92 $218.05 $0.00 $7.50 $1,552.47
8 $1,552.47 $218.05 $0.00 $8.78 $1,779.30
9 $1,779.30 $218.05 $0.00 $10.06 $2,007.41
10 $2,007.41 $218.05 $0.00 $11.35 $2,236.81
11 $2,236.81 $218.05 $0.00 $12.65 $2,467.51
12 $2,467.51 $218.05 $0.00 $13.95 $2,699.51
13 $2,699.51 $218.05 $0.00 $15.26 $2,932.82
14 $2,932.82 $218.05 $0.00 $16.58 $3,167.45
15 $3,167.45 $218.05 $0.00 $17.91 $3,403.41
16 $3,403.41 $218.05 $0.00 $19.24 $3,640.70
17 $3,640.70 $218.05 $0.00 $20.59 $3,879.34
18 $3,879.34 $218.05 $0.00 $21.93 $4,119.32
19 $4,119.32 $218.05 $0.00 $23.29 $4,360.66
20 $4,360.66 $218.05 $0.00 $24.66 $4,603.37
21 $4,603.37 $218.05 $0.00 $26.03 $4,847.45
22 $4,847.45 $218.05 $0.00 $27.41 $5,092.91
23 $5,092.91 $218.05 $0.00 $28.80 $5,339.76
24 $5,339.76 $218.05 $0.00 $30.19 $5,588.00
25 $5,588.00 $218.05 $0.00 $31.60 $5,837.65
26 $5,837.65 $218.05 $0.00 $33.01 $6,088.71
27 $6,088.71 $218.05 $0.00 $34.43 $6,341.19
28 $6,341.19 $218.05 $0.00 $35.85 $6,595.09
29 $6,595.09 $218.05 $0.00 $37.29 $6,850.43
30 $6,850.43 $218.05 $0.00 $38.73 $7,107.21
31 $7,107.21 $218.05 $0.00 $40.19 $7,365.45
32 $7,365.45 $218.05 $0.00 $41.65 $7,625.15
33 $7,625.15 $218.05 $0.00 $43.11 $7,886.31
34 $7,886.31 $218.05 $0.00 $44.59 $8,148.95
35 $8,148.95 $218.05 $0.00 $46.08 $8,413.08
36 $8,413.08 $218.05 $0.00 $47.57 $8,678.70
37 $8,678.70 $218.05 $0.00 $49.07 $8,945.82
38 $8,945.82 $218.05 $0.00 $50.58 $9,214.45
39 $9,214.45 $218.05 $0.00 $52.10 $9,484.60
40 $9,484.60 $218.05 $0.00 $53.63 $9,756.28
41 $9,756.28 $218.05 $0.00 $55.16 $10,029.49
42 $10,029.49 $218.05 $0.00 $56.71 $10,304.25
43 $10,304.25 $218.05 $0.00 $58.26 $10,580.56
44 $10,580.56 $218.05 $0.00 $59.82 $10,858.43
45 $10,858.43 $218.05 $0.00 $61.40 $11,137.88
46 $11,137.88 $218.05 $0.00 $62.98 $11,418.91
47 $11,418.91 $218.05 $0.00 $64.56 $11,701.52
48 $11,701.52 $218.05 $0.00 $66.16 $11,985.73
49 $11,985.73 $218.05 $0.00 $67.77 $12,271.55
50 $12,271.55 $218.05 $0.00 $69.39 $12,558.99
51 $12,558.99 $218.05 $0.00 $71.01 $12,848.05
52 $12,848.05 $218.05 $0.00 $72.64 $13,138.74
53 $13,138.74 $218.05 $0.00 $74.29 $13,431.08
54 $13,431.08 $218.05 $0.00 $75.94 $13,725.07
55 $13,725.07 $218.05 $0.00 $77.60 $14,020.72
56 $14,020.72 $218.05 $0.00 $79.28 $14,318.05
57 $14,318.05 $218.05 $0.00 $80.96 $14,617.06
58 $14,617.06 $218.05 $0.00 $82.65 $14,917.76
59 $14,917.76 $218.05 $0.00 $84.35 $15,220.16
60 $15,220.16 $218.05 $0.00 $86.06 $15,524.27
61 $15,524.27 $218.05 $0.00 $87.78 $15,830.10
62 $15,830.10 $218.05 $0.00 $89.51 $16,137.66
63 $16,137.66 $218.05 $0.00 $91.24 $16,446.95
64 $16,446.95 $218.05 $0.00 $92.99 $16,757.99
65 $16,757.99 $218.05 $0.00 $94.75 $17,070.79
66 $17,070.79 $218.05 $0.00 $96.52 $17,385.36
67 $17,385.36 $218.05 $0.00 $98.30 $17,701.71
68 $17,701.71 $218.05 $0.00 $100.09 $18,019.85
69 $18,019.85 $218.05 $0.00 $101.89 $18,339.79
70 $18,339.79 $218.05 $0.00 $103.70 $18,661.54
71 $18,661.54 $218.05 $0.00 $105.52 $18,985.11
72 $18,985.11 $218.05 $0.00 $107.34 $19,310.50
73 $19,310.50 $218.05 $0.00 $109.18 $19,637.73
74 $19,637.73 $218.05 $0.00 $111.03 $19,966.81
75 $19,966.81 $218.05 $0.00 $112.90 $20,297.76
76 $20,297.76 $218.05 $0.00 $114.77 $20,630.58
77 $20,630.58 $218.05 $0.00 $116.65 $20,965.28
78 $20,965.28 $218.05 $0.00 $118.54 $21,301.87
79 $21,301.87 $218.05 $0.00 $120.44 $21,640.36
80 $21,640.36 $218.05 $0.00 $122.36 $21,980.77
81 $21,980.77 $218.05 $0.00 $124.28 $22,323.10
82 $22,323.10 $218.05 $0.00 $126.22 $22,667.37
83 $22,667.37 $218.05 $0.00 $128.16 $23,013.58
84 $23,013.58 $218.05 $0.00 $130.12 $23,361.75
85 $23,361.75 $218.05 $0.00 $132.09 $23,711.89
86 $23,711.89 $218.05 $0.00 $134.07 $24,064.01
87 $24,064.01 $218.05 $0.00 $136.06 $24,418.12
88 $24,418.12 $218.05 $0.00 $138.06 $24,774.23
89 $24,774.23 $218.05 $0.00 $140.08 $25,132.36
90 $25,132.36 $218.05 $0.00 $142.10 $25,492.51
91 $25,492.51 $218.05 $0.00 $144.14 $25,854.70
92 $25,854.70 $218.05 $0.00 $146.19 $26,218.94
93 $26,218.94 $218.05 $0.00 $148.25 $26,585.24
94 $26,585.24 $218.05 $0.00 $150.32 $26,953.61
95 $26,953.61 $218.05 $0.00 $152.40 $27,324.06
96 $27,324.06 $218.05 $0.00 $154.49 $27,696.60
97 $27,696.60 $218.05 $0.00 $156.60 $28,071.25
98 $28,071.25 $218.05 $0.00 $158.72 $28,448.02
99 $28,448.02 $218.05 $0.00 $160.85 $28,826.92
100 $28,826.92 $218.05 $0.00 $162.99 $29,207.96
101 $29,207.96 $218.05 $0.00 $165.15 $29,591.16
102 $29,591.16 $218.05 $0.00 $167.31 $29,976.52
103 $29,976.52 $218.05 $0.00 $169.49 $30,364.06
104 $30,364.06 $218.05 $0.00 $171.68 $30,753.79
105 $30,753.79 $218.05 $0.00 $173.89 $31,145.73
106 $31,145.73 $218.05 $0.00 $176.10 $31,539.88
107 $31,539.88 $218.05 $0.00 $178.33 $31,936.26
108 $31,936.26 $218.05 $0.00 $180.57 $32,334.88
109 $32,334.88 $218.05 $0.00 $182.83 $32,735.76
110 $32,735.76 $218.05 $0.00 $185.09 $33,138.90
111 $33,138.90 $218.05 $0.00 $187.37 $33,544.32
112 $33,544.32 $218.05 $0.00 $189.66 $33,952.03
113 $33,952.03 $218.05 $0.00 $191.97 $34,362.05
114 $34,362.05 $218.05 $0.00 $194.29 $34,774.39
115 $34,774.39 $218.05 $0.00 $196.62 $35,189.06
116 $35,189.06 $218.05 $0.00 $198.96 $35,606.07
117 $35,606.07 $218.05 $0.00 $201.32 $36,025.44
118 $36,025.44 $218.05 $0.00 $203.69 $36,447.18
119 $36,447.18 $218.05 $0.00 $206.08 $36,871.31
120 $36,871.31 $218.05 $0.00 $208.48 $37,297.84
121 $37,297.84 $218.05 $0.00 $210.89 $37,726.78
122 $37,726.78 $218.05 $0.00 $213.31 $38,158.14
123 $38,158.14 $218.05 $0.00 $215.75 $38,591.94
124 $38,591.94 $218.05 $0.00 $218.20 $39,028.19
125 $39,028.19 $218.05 $0.00 $220.67 $39,466.91
126 $39,466.91 $218.05 $0.00 $223.15 $39,908.11
127 $39,908.11 $218.05 $0.00 $225.65 $40,351.81
128 $40,351.81 $218.05 $0.00 $228.16 $40,798.02
129 $40,798.02 $218.05 $0.00 $230.68 $41,246.75
130 $41,246.75 $218.05 $0.00 $233.22 $41,698.02
131 $41,698.02 $218.05 $0.00 $235.77 $42,151.84
132 $42,151.84 $218.05 $0.00 $238.33 $42,608.22
133 $42,608.22 $218.05 $0.00 $240.91 $43,067.18
134 $43,067.18 $218.05 $0.00 $243.51 $43,528.74
135 $43,528.74 $218.05 $0.00 $246.12 $43,992.91
136 $43,992.91 $218.05 $0.00 $248.74 $44,459.70
137 $44,459.70 $218.05 $0.00 $251.38 $44,929.13
138 $44,929.13 $218.05 $0.00 $254.04 $45,401.22
139 $45,401.22 $218.05 $0.00 $256.71 $45,875.98
140 $45,875.98 $218.05 $0.00 $259.39 $46,353.42
141 $46,353.42 $218.05 $0.00 $262.09 $46,833.56
142 $46,833.56 $218.05 $0.00 $264.80 $47,316.41
143 $47,316.41 $218.05 $0.00 $267.53 $47,801.99
144 $47,801.99 $218.05 $0.00 $270.28 $48,290.32
145 $48,290.32 $218.05 $0.00 $273.04 $48,781.41
146 $48,781.41 $218.05 $0.00 $275.82 $49,275.28
147 $49,275.28 $218.05 $0.00 $278.61 $49,771.94
148 $49,771.94 $218.05 $0.00 $281.42 $50,271.41
149 $50,271.41 $218.05 $0.00 $284.24 $50,773.70
150 $50,773.70 $218.05 $0.00 $287.08 $51,278.83
151 $51,278.83 $218.05 $0.00 $289.94 $51,786.82
152 $51,786.82 $218.05 $0.00 $292.81 $52,297.68
153 $52,297.68 $218.05 $0.00 $295.70 $52,811.43
154 $52,811.43 $218.05 $0.00 $298.60 $53,328.08
155 $53,328.08 $218.05 $0.00 $301.52 $53,847.65
156 $53,847.65 $218.05 $0.00 $304.46 $54,370.16
157 $54,370.16 $218.05 $0.00 $307.42 $54,895.63
158 $54,895.63 $218.05 $0.00 $310.39 $55,424.07
159 $55,424.07 $218.05 $0.00 $313.38 $55,955.50
160 $55,955.50 $218.05 $0.00 $316.38 $56,489.93
161 $56,489.93 $218.05 $0.00 $319.40 $57,027.38
162 $57,027.38 $218.05 $0.00 $322.44 $57,567.87
163 $57,567.87 $218.05 $0.00 $325.50 $58,111.42
164 $58,111.42 $218.05 $0.00 $328.57 $58,658.04
165 $58,658.04 $218.05 $0.00 $331.66 $59,207.75
166 $59,207.75 $218.05 $0.00 $334.77 $59,760.57
167 $59,760.57 $218.05 $0.00 $337.89 $60,316.51
168 $60,316.51 $218.05 $0.00 $341.04 $60,875.60
169 $60,875.60 $218.05 $0.00 $344.20 $61,437.85
170 $61,437.85 $218.05 $0.00 $347.38 $62,003.28
171 $62,003.28 $218.05 $0.00 $350.58 $62,571.91
172 $62,571.91 $218.05 $0.00 $353.79 $63,143.75
173 $63,143.75 $218.05 $0.00 $357.02 $63,718.82
174 $63,718.82 $218.05 $0.00 $360.28 $64,297.15
175 $64,297.15 $218.05 $0.00 $363.55 $64,878.75
176 $64,878.75 $218.05 $0.00 $366.83 $65,463.63
177 $65,463.63 $218.05 $0.00 $370.14 $66,051.82
178 $66,051.82 $218.05 $0.00 $373.47 $66,643.34
179 $66,643.34 $218.05 $0.00 $376.81 $67,238.20
180 $67,238.20 $218.05 $0.00 $380.17 $67,836.42
181 $67,836.42 $218.05 $0.00 $383.56 $68,438.03
182 $68,438.03 $218.05 $0.00 $386.96 $69,043.04
183 $69,043.04 $218.05 $0.00 $390.38 $69,651.47
184 $69,651.47 $218.05 $0.00 $393.82 $70,263.34
185 $70,263.34 $218.05 $0.00 $397.28 $70,878.67
186 $70,878.67 $218.05 $0.00 $400.76 $71,497.48
187 $71,497.48 $218.05 $0.00 $404.26 $72,119.79
188 $72,119.79 $218.05 $0.00 $407.78 $72,745.62
189 $72,745.62 $218.05 $0.00 $411.31 $73,374.98
190 $73,374.98 $218.05 $0.00 $414.87 $74,007.90
191 $74,007.90 $218.05 $0.00 $418.45 $74,644.40
192 $74,644.40 $218.05 $0.00 $422.05 $75,284.50
193 $75,284.50 $218.05 $0.00 $425.67 $75,928.22
194 $75,928.22 $218.05 $0.00 $429.31 $76,575.58
195 $76,575.58 $218.05 $0.00 $432.97 $77,226.60
196 $77,226.60 $218.05 $0.00 $436.65 $77,881.30
197 $77,881.30 $218.05 $0.00 $440.35 $78,539.70
198 $78,539.70 $218.05 $0.00 $444.07 $79,201.82
199 $79,201.82 $218.05 $0.00 $447.82 $79,867.69
200 $79,867.69 $218.05 $0.00 $451.58 $80,537.32
201 $80,537.32 $218.05 $0.00 $455.37 $81,210.74
202 $81,210.74 $218.05 $0.00 $459.18 $81,887.97
203 $81,887.97 $218.05 $0.00 $463.01 $82,569.03
204 $82,569.03 $218.05 $0.00 $466.86 $83,253.94
205 $83,253.94 $218.05 $0.00 $470.73 $83,942.72
206 $83,942.72 $218.05 $0.00 $474.62 $84,635.39
207 $84,635.39 $218.05 $0.00 $478.54 $85,331.98
208 $85,331.98 $218.05 $0.00 $482.48 $86,032.51
209 $86,032.51 $218.05 $0.00 $486.44 $86,737.00
210 $86,737.00 $218.05 $0.00 $490.42 $87,445.47
211 $87,445.47 $218.05 $0.00 $494.43 $88,157.95
212 $88,157.95 $218.05 $0.00 $498.46 $88,874.46
213 $88,874.46 $218.05 $0.00 $502.51 $89,595.02
214 $89,595.02 $218.05 $0.00 $506.58 $90,319.65
215 $90,319.65 $218.05 $0.00 $510.68 $91,048.38
216 $91,048.38 $218.05 $0.00 $514.80 $91,781.23
217 $91,781.23 $218.05 $47,867.66 $518.94 $44,650.56
218 $44,650.56 $218.05 $0.00 $252.46 $45,121.07
219 $45,121.07 $218.05 $0.00 $255.12 $45,594.24
220 $45,594.24 $218.05 $0.00 $257.80 $46,070.09
221 $46,070.09 $218.05 $0.00 $260.49 $46,548.63
222 $46,548.63 $218.05 $0.00 $263.19 $47,029.87
223 $47,029.87 $218.05 $0.00 $265.91 $47,513.83
224 $47,513.83 $218.05 $0.00 $268.65 $48,000.53
225 $48,000.53 $218.05 $0.00 $271.40 $48,489.98
226 $48,489.98 $218.05 $0.00 $274.17 $48,982.20
227 $48,982.20 $218.05 $0.00 $276.95 $49,477.20
228 $49,477.20 $218.05 $0.00 $279.75 $49,975.00
229 $49,975.00 $0.00 $50,261.04 $282.57 ($3.47)