Savings Plan and Future Cost Estimation for Independence 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$50,920
Monthly savings required$226

How much will it cost to send your child to Independence Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $101,840.47 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $226.24 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$14,556.00
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 $226.24 $0.00 $0.00 $226.24
2 $226.24 $226.24 $0.00 $1.28 $453.76
3 $453.76 $226.24 $0.00 $2.57 $682.57
4 $682.57 $226.24 $0.00 $3.86 $912.67
5 $912.67 $226.24 $0.00 $5.16 $1,144.07
6 $1,144.07 $226.24 $0.00 $6.47 $1,376.78
7 $1,376.78 $226.24 $0.00 $7.78 $1,610.80
8 $1,610.80 $226.24 $0.00 $9.11 $1,846.15
9 $1,846.15 $226.24 $0.00 $10.44 $2,082.83
10 $2,082.83 $226.24 $0.00 $11.78 $2,320.85
11 $2,320.85 $226.24 $0.00 $13.12 $2,560.21
12 $2,560.21 $226.24 $0.00 $14.48 $2,800.93
13 $2,800.93 $226.24 $0.00 $15.84 $3,043.01
14 $3,043.01 $226.24 $0.00 $17.21 $3,286.46
15 $3,286.46 $226.24 $0.00 $18.58 $3,531.28
16 $3,531.28 $226.24 $0.00 $19.97 $3,777.49
17 $3,777.49 $226.24 $0.00 $21.36 $4,025.09
18 $4,025.09 $226.24 $0.00 $22.76 $4,274.09
19 $4,274.09 $226.24 $0.00 $24.17 $4,524.50
20 $4,524.50 $226.24 $0.00 $25.58 $4,776.32
21 $4,776.32 $226.24 $0.00 $27.01 $5,029.57
22 $5,029.57 $226.24 $0.00 $28.44 $5,284.25
23 $5,284.25 $226.24 $0.00 $29.88 $5,540.37
24 $5,540.37 $226.24 $0.00 $31.33 $5,797.94
25 $5,797.94 $226.24 $0.00 $32.78 $6,056.96
26 $6,056.96 $226.24 $0.00 $34.25 $6,317.45
27 $6,317.45 $226.24 $0.00 $35.72 $6,579.41
28 $6,579.41 $226.24 $0.00 $37.20 $6,842.85
29 $6,842.85 $226.24 $0.00 $38.69 $7,107.78
30 $7,107.78 $226.24 $0.00 $40.19 $7,374.21
31 $7,374.21 $226.24 $0.00 $41.69 $7,642.14
32 $7,642.14 $226.24 $0.00 $43.21 $7,911.59
33 $7,911.59 $226.24 $0.00 $44.73 $8,182.56
34 $8,182.56 $226.24 $0.00 $46.27 $8,455.07
35 $8,455.07 $226.24 $0.00 $47.81 $8,729.12
36 $8,729.12 $226.24 $0.00 $49.36 $9,004.72
37 $9,004.72 $226.24 $0.00 $50.91 $9,281.87
38 $9,281.87 $226.24 $0.00 $52.48 $9,560.59
39 $9,560.59 $226.24 $0.00 $54.06 $9,840.89
40 $9,840.89 $226.24 $0.00 $55.64 $10,122.77
41 $10,122.77 $226.24 $0.00 $57.24 $10,406.25
42 $10,406.25 $226.24 $0.00 $58.84 $10,691.33
43 $10,691.33 $226.24 $0.00 $60.45 $10,978.02
44 $10,978.02 $226.24 $0.00 $62.07 $11,266.33
45 $11,266.33 $226.24 $0.00 $63.70 $11,556.27
46 $11,556.27 $226.24 $0.00 $65.34 $11,847.85
47 $11,847.85 $226.24 $0.00 $66.99 $12,141.08
48 $12,141.08 $226.24 $0.00 $68.65 $12,435.97
49 $12,435.97 $226.24 $0.00 $70.31 $12,732.52
50 $12,732.52 $226.24 $0.00 $71.99 $13,030.75
51 $13,030.75 $226.24 $0.00 $73.68 $13,330.67
52 $13,330.67 $226.24 $0.00 $75.37 $13,632.28
53 $13,632.28 $226.24 $0.00 $77.08 $13,935.60
54 $13,935.60 $226.24 $0.00 $78.79 $14,240.63
55 $14,240.63 $226.24 $0.00 $80.52 $14,547.39
56 $14,547.39 $226.24 $0.00 $82.25 $14,855.88
57 $14,855.88 $226.24 $0.00 $84.00 $15,166.12
58 $15,166.12 $226.24 $0.00 $85.75 $15,478.11
59 $15,478.11 $226.24 $0.00 $87.52 $15,791.87
60 $15,791.87 $226.24 $0.00 $89.29 $16,107.40
61 $16,107.40 $226.24 $0.00 $91.07 $16,424.71
62 $16,424.71 $226.24 $0.00 $92.87 $16,743.82
63 $16,743.82 $226.24 $0.00 $94.67 $17,064.73
64 $17,064.73 $226.24 $0.00 $96.49 $17,387.46
65 $17,387.46 $226.24 $0.00 $98.31 $17,712.01
66 $17,712.01 $226.24 $0.00 $100.15 $18,038.40
67 $18,038.40 $226.24 $0.00 $101.99 $18,366.63
68 $18,366.63 $226.24 $0.00 $103.85 $18,696.72
69 $18,696.72 $226.24 $0.00 $105.71 $19,028.67
70 $19,028.67 $226.24 $0.00 $107.59 $19,362.50
71 $19,362.50 $226.24 $0.00 $109.48 $19,698.22
72 $19,698.22 $226.24 $0.00 $111.38 $20,035.84
73 $20,035.84 $226.24 $0.00 $113.29 $20,375.37
74 $20,375.37 $226.24 $0.00 $115.21 $20,716.82
75 $20,716.82 $226.24 $0.00 $117.14 $21,060.20
76 $21,060.20 $226.24 $0.00 $119.08 $21,405.52
77 $21,405.52 $226.24 $0.00 $121.03 $21,752.79
78 $21,752.79 $226.24 $0.00 $122.99 $22,102.02
79 $22,102.02 $226.24 $0.00 $124.97 $22,453.23
80 $22,453.23 $226.24 $0.00 $126.95 $22,806.42
81 $22,806.42 $226.24 $0.00 $128.95 $23,161.61
82 $23,161.61 $226.24 $0.00 $130.96 $23,518.81
83 $23,518.81 $226.24 $0.00 $132.98 $23,878.03
84 $23,878.03 $226.24 $0.00 $135.01 $24,239.28
85 $24,239.28 $226.24 $0.00 $137.05 $24,602.57
86 $24,602.57 $226.24 $0.00 $139.11 $24,967.92
87 $24,967.92 $226.24 $0.00 $141.17 $25,335.33
88 $25,335.33 $226.24 $0.00 $143.25 $25,704.82
89 $25,704.82 $226.24 $0.00 $145.34 $26,076.40
90 $26,076.40 $226.24 $0.00 $147.44 $26,450.08
91 $26,450.08 $226.24 $0.00 $149.55 $26,825.87
92 $26,825.87 $226.24 $0.00 $151.68 $27,203.79
93 $27,203.79 $226.24 $0.00 $153.81 $27,583.84
94 $27,583.84 $226.24 $0.00 $155.96 $27,966.04
95 $27,966.04 $226.24 $0.00 $158.12 $28,350.40
96 $28,350.40 $226.24 $0.00 $160.30 $28,736.94
97 $28,736.94 $226.24 $0.00 $162.48 $29,125.66
98 $29,125.66 $226.24 $0.00 $164.68 $29,516.58
99 $29,516.58 $226.24 $0.00 $166.89 $29,909.71
100 $29,909.71 $226.24 $0.00 $169.11 $30,305.06
101 $30,305.06 $226.24 $0.00 $171.35 $30,702.65
102 $30,702.65 $226.24 $0.00 $173.60 $31,102.49
103 $31,102.49 $226.24 $0.00 $175.86 $31,504.59
104 $31,504.59 $226.24 $0.00 $178.13 $31,908.96
105 $31,908.96 $226.24 $0.00 $180.42 $32,315.62
106 $32,315.62 $226.24 $0.00 $182.72 $32,724.58
107 $32,724.58 $226.24 $0.00 $185.03 $33,135.85
108 $33,135.85 $226.24 $0.00 $187.35 $33,549.44
109 $33,549.44 $226.24 $0.00 $189.69 $33,965.37
110 $33,965.37 $226.24 $0.00 $192.05 $34,383.66
111 $34,383.66 $226.24 $0.00 $194.41 $34,804.31
112 $34,804.31 $226.24 $0.00 $196.79 $35,227.34
113 $35,227.34 $226.24 $0.00 $199.18 $35,652.76
114 $35,652.76 $226.24 $0.00 $201.59 $36,080.59
115 $36,080.59 $226.24 $0.00 $204.00 $36,510.83
116 $36,510.83 $226.24 $0.00 $206.44 $36,943.51
117 $36,943.51 $226.24 $0.00 $208.88 $37,378.63
118 $37,378.63 $226.24 $0.00 $211.34 $37,816.21
119 $37,816.21 $226.24 $0.00 $213.82 $38,256.27
120 $38,256.27 $226.24 $0.00 $216.31 $38,698.82
121 $38,698.82 $226.24 $0.00 $218.81 $39,143.87
122 $39,143.87 $226.24 $0.00 $221.33 $39,591.44
123 $39,591.44 $226.24 $0.00 $223.86 $40,041.54
124 $40,041.54 $226.24 $0.00 $226.40 $40,494.18
125 $40,494.18 $226.24 $0.00 $228.96 $40,949.38
126 $40,949.38 $226.24 $0.00 $231.53 $41,407.15
127 $41,407.15 $226.24 $0.00 $234.12 $41,867.51
128 $41,867.51 $226.24 $0.00 $236.72 $42,330.47
129 $42,330.47 $226.24 $0.00 $239.34 $42,796.05
130 $42,796.05 $226.24 $0.00 $241.98 $43,264.27
131 $43,264.27 $226.24 $0.00 $244.62 $43,735.13
132 $43,735.13 $226.24 $0.00 $247.28 $44,208.65
133 $44,208.65 $226.24 $0.00 $249.96 $44,684.85
134 $44,684.85 $226.24 $0.00 $252.65 $45,163.74
135 $45,163.74 $226.24 $0.00 $255.36 $45,645.34
136 $45,645.34 $226.24 $0.00 $258.09 $46,129.67
137 $46,129.67 $226.24 $0.00 $260.82 $46,616.73
138 $46,616.73 $226.24 $0.00 $263.58 $47,106.55
139 $47,106.55 $226.24 $0.00 $266.35 $47,599.14
140 $47,599.14 $226.24 $0.00 $269.13 $48,094.51
141 $48,094.51 $226.24 $0.00 $271.93 $48,592.68
142 $48,592.68 $226.24 $0.00 $274.75 $49,093.67
143 $49,093.67 $226.24 $0.00 $277.58 $49,597.49
144 $49,597.49 $226.24 $0.00 $280.43 $50,104.16
145 $50,104.16 $226.24 $0.00 $283.30 $50,613.70
146 $50,613.70 $226.24 $0.00 $286.18 $51,126.12
147 $51,126.12 $226.24 $0.00 $289.07 $51,641.43
148 $51,641.43 $226.24 $0.00 $291.99 $52,159.66
149 $52,159.66 $226.24 $0.00 $294.92 $52,680.82
150 $52,680.82 $226.24 $0.00 $297.87 $53,204.93
151 $53,204.93 $226.24 $0.00 $300.83 $53,732.00
152 $53,732.00 $226.24 $0.00 $303.81 $54,262.05
153 $54,262.05 $226.24 $0.00 $306.81 $54,795.10
154 $54,795.10 $226.24 $0.00 $309.82 $55,331.16
155 $55,331.16 $226.24 $0.00 $312.85 $55,870.25
156 $55,870.25 $226.24 $0.00 $315.90 $56,412.39
157 $56,412.39 $226.24 $0.00 $318.96 $56,957.59
158 $56,957.59 $226.24 $0.00 $322.05 $57,505.88
159 $57,505.88 $226.24 $0.00 $325.15 $58,057.27
160 $58,057.27 $226.24 $0.00 $328.26 $58,611.77
161 $58,611.77 $226.24 $0.00 $331.40 $59,169.41
162 $59,169.41 $226.24 $0.00 $334.55 $59,730.20
163 $59,730.20 $226.24 $0.00 $337.72 $60,294.16
164 $60,294.16 $226.24 $0.00 $340.91 $60,861.31
165 $60,861.31 $226.24 $0.00 $344.12 $61,431.67
166 $61,431.67 $226.24 $0.00 $347.34 $62,005.25
167 $62,005.25 $226.24 $0.00 $350.59 $62,582.08
168 $62,582.08 $226.24 $0.00 $353.85 $63,162.17
169 $63,162.17 $226.24 $0.00 $357.13 $63,745.54
170 $63,745.54 $226.24 $0.00 $360.43 $64,332.21
171 $64,332.21 $226.24 $0.00 $363.74 $64,922.19
172 $64,922.19 $226.24 $0.00 $367.08 $65,515.51
173 $65,515.51 $226.24 $0.00 $370.43 $66,112.18
174 $66,112.18 $226.24 $0.00 $373.81 $66,712.23
175 $66,712.23 $226.24 $0.00 $377.20 $67,315.67
176 $67,315.67 $226.24 $0.00 $380.61 $67,922.52
177 $67,922.52 $226.24 $0.00 $384.04 $68,532.80
178 $68,532.80 $226.24 $0.00 $387.49 $69,146.53
179 $69,146.53 $226.24 $0.00 $390.96 $69,763.73
180 $69,763.73 $226.24 $0.00 $394.45 $70,384.42
181 $70,384.42 $226.24 $0.00 $397.96 $71,008.62
182 $71,008.62 $226.24 $0.00 $401.49 $71,636.35
183 $71,636.35 $226.24 $0.00 $405.04 $72,267.63
184 $72,267.63 $226.24 $0.00 $408.61 $72,902.48
185 $72,902.48 $226.24 $0.00 $412.20 $73,540.92
186 $73,540.92 $226.24 $0.00 $415.81 $74,182.97
187 $74,182.97 $226.24 $0.00 $419.44 $74,828.65
188 $74,828.65 $226.24 $0.00 $423.09 $75,477.98
189 $75,477.98 $226.24 $0.00 $426.76 $76,130.98
190 $76,130.98 $226.24 $0.00 $430.46 $76,787.68
191 $76,787.68 $226.24 $0.00 $434.17 $77,448.09
192 $77,448.09 $226.24 $0.00 $437.90 $78,112.23
193 $78,112.23 $226.24 $0.00 $441.66 $78,780.13
194 $78,780.13 $226.24 $0.00 $445.43 $79,451.80
195 $79,451.80 $226.24 $0.00 $449.23 $80,127.27
196 $80,127.27 $226.24 $0.00 $453.05 $80,806.56
197 $80,806.56 $226.24 $0.00 $456.89 $81,489.69
198 $81,489.69 $226.24 $0.00 $460.75 $82,176.68
199 $82,176.68 $226.24 $0.00 $464.64 $82,867.56
200 $82,867.56 $226.24 $0.00 $468.55 $83,562.35
201 $83,562.35 $226.24 $0.00 $472.47 $84,261.06
202 $84,261.06 $226.24 $0.00 $476.42 $84,963.72
203 $84,963.72 $226.24 $0.00 $480.40 $85,670.36
204 $85,670.36 $226.24 $0.00 $484.39 $86,380.99
205 $86,380.99 $226.24 $0.00 $488.41 $87,095.64
206 $87,095.64 $226.24 $0.00 $492.45 $87,814.33
207 $87,814.33 $226.24 $0.00 $496.51 $88,537.08
208 $88,537.08 $226.24 $0.00 $500.60 $89,263.92
209 $89,263.92 $226.24 $0.00 $504.71 $89,994.87
210 $89,994.87 $226.24 $0.00 $508.84 $90,729.95
211 $90,729.95 $226.24 $0.00 $513.00 $91,469.19
212 $91,469.19 $226.24 $0.00 $517.18 $92,212.61
213 $92,212.61 $226.24 $0.00 $521.38 $92,960.23
214 $92,960.23 $226.24 $0.00 $525.61 $93,712.08
215 $93,712.08 $226.24 $0.00 $529.86 $94,468.18
216 $94,468.18 $226.24 $0.00 $534.14 $95,228.56
217 $95,228.56 $226.24 $49,198.29 $538.44 $46,794.95
218 $46,794.95 $226.24 $0.00 $264.59 $47,285.78
219 $47,285.78 $226.24 $0.00 $267.36 $47,779.38
220 $47,779.38 $226.24 $0.00 $270.15 $48,275.77
221 $48,275.77 $226.24 $0.00 $272.96 $48,774.97
222 $48,774.97 $226.24 $0.00 $275.78 $49,276.99
223 $49,276.99 $226.24 $0.00 $278.62 $49,781.85
224 $49,781.85 $226.24 $0.00 $281.47 $50,289.56
225 $50,289.56 $226.24 $0.00 $284.34 $50,800.14
226 $50,800.14 $226.24 $0.00 $287.23 $51,313.61
227 $51,313.61 $226.24 $0.00 $290.13 $51,829.98
228 $51,829.98 $226.24 $0.00 $293.05 $52,349.27
229 $52,349.27 $0.00 $52,642.17 $295.99 $3.09