Savings Plan and Future Cost Estimation for Central Maine Community College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$41,156
Monthly savings required$183

How much will it cost to send your child to Central Maine Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $82,311.67 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $182.91 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$16,684.00
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 $182.91 $0.00 $0.00 $182.91
2 $182.91 $182.91 $0.00 $1.03 $366.85
3 $366.85 $182.91 $0.00 $2.07 $551.83
4 $551.83 $182.91 $0.00 $3.12 $737.86
5 $737.86 $182.91 $0.00 $4.17 $924.94
6 $924.94 $182.91 $0.00 $5.23 $1,113.08
7 $1,113.08 $182.91 $0.00 $6.29 $1,302.28
8 $1,302.28 $182.91 $0.00 $7.36 $1,492.55
9 $1,492.55 $182.91 $0.00 $8.44 $1,683.90
10 $1,683.90 $182.91 $0.00 $9.52 $1,876.33
11 $1,876.33 $182.91 $0.00 $10.61 $2,069.85
12 $2,069.85 $182.91 $0.00 $11.70 $2,264.46
13 $2,264.46 $182.91 $0.00 $12.80 $2,460.17
14 $2,460.17 $182.91 $0.00 $13.91 $2,656.99
15 $2,656.99 $182.91 $0.00 $15.02 $2,854.92
16 $2,854.92 $182.91 $0.00 $16.14 $3,053.97
17 $3,053.97 $182.91 $0.00 $17.27 $3,254.15
18 $3,254.15 $182.91 $0.00 $18.40 $3,455.46
19 $3,455.46 $182.91 $0.00 $19.54 $3,657.91
20 $3,657.91 $182.91 $0.00 $20.68 $3,861.50
21 $3,861.50 $182.91 $0.00 $21.83 $4,066.24
22 $4,066.24 $182.91 $0.00 $22.99 $4,272.14
23 $4,272.14 $182.91 $0.00 $24.16 $4,479.21
24 $4,479.21 $182.91 $0.00 $25.33 $4,687.45
25 $4,687.45 $182.91 $0.00 $26.50 $4,896.86
26 $4,896.86 $182.91 $0.00 $27.69 $5,107.46
27 $5,107.46 $182.91 $0.00 $28.88 $5,319.25
28 $5,319.25 $182.91 $0.00 $30.08 $5,532.24
29 $5,532.24 $182.91 $0.00 $31.28 $5,746.43
30 $5,746.43 $182.91 $0.00 $32.49 $5,961.83
31 $5,961.83 $182.91 $0.00 $33.71 $6,178.45
32 $6,178.45 $182.91 $0.00 $34.93 $6,396.29
33 $6,396.29 $182.91 $0.00 $36.17 $6,615.37
34 $6,615.37 $182.91 $0.00 $37.40 $6,835.68
35 $6,835.68 $182.91 $0.00 $38.65 $7,057.24
36 $7,057.24 $182.91 $0.00 $39.90 $7,280.05
37 $7,280.05 $182.91 $0.00 $41.16 $7,504.12
38 $7,504.12 $182.91 $0.00 $42.43 $7,729.46
39 $7,729.46 $182.91 $0.00 $43.70 $7,956.07
40 $7,956.07 $182.91 $0.00 $44.98 $8,183.96
41 $8,183.96 $182.91 $0.00 $46.27 $8,413.14
42 $8,413.14 $182.91 $0.00 $47.57 $8,643.62
43 $8,643.62 $182.91 $0.00 $48.87 $8,875.40
44 $8,875.40 $182.91 $0.00 $50.18 $9,108.49
45 $9,108.49 $182.91 $0.00 $51.50 $9,342.90
46 $9,342.90 $182.91 $0.00 $52.83 $9,578.64
47 $9,578.64 $182.91 $0.00 $54.16 $9,815.71
48 $9,815.71 $182.91 $0.00 $55.50 $10,054.12
49 $10,054.12 $182.91 $0.00 $56.85 $10,293.88
50 $10,293.88 $182.91 $0.00 $58.20 $10,534.99
51 $10,534.99 $182.91 $0.00 $59.57 $10,777.47
52 $10,777.47 $182.91 $0.00 $60.94 $11,021.32
53 $11,021.32 $182.91 $0.00 $62.32 $11,266.55
54 $11,266.55 $182.91 $0.00 $63.70 $11,513.16
55 $11,513.16 $182.91 $0.00 $65.10 $11,761.17
56 $11,761.17 $182.91 $0.00 $66.50 $12,010.58
57 $12,010.58 $182.91 $0.00 $67.91 $12,261.40
58 $12,261.40 $182.91 $0.00 $69.33 $12,513.64
59 $12,513.64 $182.91 $0.00 $70.75 $12,767.30
60 $12,767.30 $182.91 $0.00 $72.19 $13,022.40
61 $13,022.40 $182.91 $0.00 $73.63 $13,278.94
62 $13,278.94 $182.91 $0.00 $75.08 $13,536.93
63 $13,536.93 $182.91 $0.00 $76.54 $13,796.38
64 $13,796.38 $182.91 $0.00 $78.01 $14,057.30
65 $14,057.30 $182.91 $0.00 $79.48 $14,319.69
66 $14,319.69 $182.91 $0.00 $80.97 $14,583.57
67 $14,583.57 $182.91 $0.00 $82.46 $14,848.94
68 $14,848.94 $182.91 $0.00 $83.96 $15,115.81
69 $15,115.81 $182.91 $0.00 $85.47 $15,384.19
70 $15,384.19 $182.91 $0.00 $86.98 $15,654.08
71 $15,654.08 $182.91 $0.00 $88.51 $15,925.50
72 $15,925.50 $182.91 $0.00 $90.05 $16,198.46
73 $16,198.46 $182.91 $0.00 $91.59 $16,472.96
74 $16,472.96 $182.91 $0.00 $93.14 $16,749.01
75 $16,749.01 $182.91 $0.00 $94.70 $17,026.62
76 $17,026.62 $182.91 $0.00 $96.27 $17,305.80
77 $17,305.80 $182.91 $0.00 $97.85 $17,586.56
78 $17,586.56 $182.91 $0.00 $99.44 $17,868.91
79 $17,868.91 $182.91 $0.00 $101.03 $18,152.85
80 $18,152.85 $182.91 $0.00 $102.64 $18,438.40
81 $18,438.40 $182.91 $0.00 $104.25 $18,725.56
82 $18,725.56 $182.91 $0.00 $105.88 $19,014.35
83 $19,014.35 $182.91 $0.00 $107.51 $19,304.77
84 $19,304.77 $182.91 $0.00 $109.15 $19,596.83
85 $19,596.83 $182.91 $0.00 $110.80 $19,890.54
86 $19,890.54 $182.91 $0.00 $112.46 $20,185.91
87 $20,185.91 $182.91 $0.00 $114.13 $20,482.95
88 $20,482.95 $182.91 $0.00 $115.81 $20,781.67
89 $20,781.67 $182.91 $0.00 $117.50 $21,082.08
90 $21,082.08 $182.91 $0.00 $119.20 $21,384.19
91 $21,384.19 $182.91 $0.00 $120.91 $21,688.01
92 $21,688.01 $182.91 $0.00 $122.63 $21,993.55
93 $21,993.55 $182.91 $0.00 $124.35 $22,300.81
94 $22,300.81 $182.91 $0.00 $126.09 $22,609.81
95 $22,609.81 $182.91 $0.00 $127.84 $22,920.56
96 $22,920.56 $182.91 $0.00 $129.60 $23,233.07
97 $23,233.07 $182.91 $0.00 $131.36 $23,547.34
98 $23,547.34 $182.91 $0.00 $133.14 $23,863.39
99 $23,863.39 $182.91 $0.00 $134.93 $24,181.23
100 $24,181.23 $182.91 $0.00 $136.72 $24,500.86
101 $24,500.86 $182.91 $0.00 $138.53 $24,822.30
102 $24,822.30 $182.91 $0.00 $140.35 $25,145.56
103 $25,145.56 $182.91 $0.00 $142.18 $25,470.65
104 $25,470.65 $182.91 $0.00 $144.01 $25,797.57
105 $25,797.57 $182.91 $0.00 $145.86 $26,126.34
106 $26,126.34 $182.91 $0.00 $147.72 $26,456.97
107 $26,456.97 $182.91 $0.00 $149.59 $26,789.47
108 $26,789.47 $182.91 $0.00 $151.47 $27,123.85
109 $27,123.85 $182.91 $0.00 $153.36 $27,460.12
110 $27,460.12 $182.91 $0.00 $155.26 $27,798.29
111 $27,798.29 $182.91 $0.00 $157.18 $28,138.38
112 $28,138.38 $182.91 $0.00 $159.10 $28,480.39
113 $28,480.39 $182.91 $0.00 $161.03 $28,824.33
114 $28,824.33 $182.91 $0.00 $162.98 $29,170.22
115 $29,170.22 $182.91 $0.00 $164.93 $29,518.06
116 $29,518.06 $182.91 $0.00 $166.90 $29,867.87
117 $29,867.87 $182.91 $0.00 $168.88 $30,219.66
118 $30,219.66 $182.91 $0.00 $170.87 $30,573.44
119 $30,573.44 $182.91 $0.00 $172.87 $30,929.22
120 $30,929.22 $182.91 $0.00 $174.88 $31,287.01
121 $31,287.01 $182.91 $0.00 $176.90 $31,646.82
122 $31,646.82 $182.91 $0.00 $178.94 $32,008.67
123 $32,008.67 $182.91 $0.00 $180.98 $32,372.56
124 $32,372.56 $182.91 $0.00 $183.04 $32,738.51
125 $32,738.51 $182.91 $0.00 $185.11 $33,106.53
126 $33,106.53 $182.91 $0.00 $187.19 $33,476.63
127 $33,476.63 $182.91 $0.00 $189.28 $33,848.82
128 $33,848.82 $182.91 $0.00 $191.39 $34,223.12
129 $34,223.12 $182.91 $0.00 $193.50 $34,599.53
130 $34,599.53 $182.91 $0.00 $195.63 $34,978.07
131 $34,978.07 $182.91 $0.00 $197.77 $35,358.75
132 $35,358.75 $182.91 $0.00 $199.92 $35,741.58
133 $35,741.58 $182.91 $0.00 $202.09 $36,126.58
134 $36,126.58 $182.91 $0.00 $204.26 $36,513.75
135 $36,513.75 $182.91 $0.00 $206.45 $36,903.11
136 $36,903.11 $182.91 $0.00 $208.66 $37,294.68
137 $37,294.68 $182.91 $0.00 $210.87 $37,688.46
138 $37,688.46 $182.91 $0.00 $213.10 $38,084.47
139 $38,084.47 $182.91 $0.00 $215.34 $38,482.72
140 $38,482.72 $182.91 $0.00 $217.59 $38,883.22
141 $38,883.22 $182.91 $0.00 $219.85 $39,285.98
142 $39,285.98 $182.91 $0.00 $222.13 $39,691.02
143 $39,691.02 $182.91 $0.00 $224.42 $40,098.35
144 $40,098.35 $182.91 $0.00 $226.72 $40,507.98
145 $40,507.98 $182.91 $0.00 $229.04 $40,919.93
146 $40,919.93 $182.91 $0.00 $231.37 $41,334.21
147 $41,334.21 $182.91 $0.00 $233.71 $41,750.83
148 $41,750.83 $182.91 $0.00 $236.07 $42,169.81
149 $42,169.81 $182.91 $0.00 $238.43 $42,591.15
150 $42,591.15 $182.91 $0.00 $240.82 $43,014.88
151 $43,014.88 $182.91 $0.00 $243.21 $43,441.00
152 $43,441.00 $182.91 $0.00 $245.62 $43,869.53
153 $43,869.53 $182.91 $0.00 $248.04 $44,300.48
154 $44,300.48 $182.91 $0.00 $250.48 $44,733.87
155 $44,733.87 $182.91 $0.00 $252.93 $45,169.71
156 $45,169.71 $182.91 $0.00 $255.40 $45,608.02
157 $45,608.02 $182.91 $0.00 $257.87 $46,048.80
158 $46,048.80 $182.91 $0.00 $260.37 $46,492.08
159 $46,492.08 $182.91 $0.00 $262.87 $46,937.86
160 $46,937.86 $182.91 $0.00 $265.39 $47,386.16
161 $47,386.16 $182.91 $0.00 $267.93 $47,837.00
162 $47,837.00 $182.91 $0.00 $270.48 $48,290.39
163 $48,290.39 $182.91 $0.00 $273.04 $48,746.34
164 $48,746.34 $182.91 $0.00 $275.62 $49,204.87
165 $49,204.87 $182.91 $0.00 $278.21 $49,665.99
166 $49,665.99 $182.91 $0.00 $280.82 $50,129.72
167 $50,129.72 $182.91 $0.00 $283.44 $50,596.07
168 $50,596.07 $182.91 $0.00 $286.08 $51,065.06
169 $51,065.06 $182.91 $0.00 $288.73 $51,536.70
170 $51,536.70 $182.91 $0.00 $291.40 $52,011.01
171 $52,011.01 $182.91 $0.00 $294.08 $52,488.00
172 $52,488.00 $182.91 $0.00 $296.77 $52,967.68
173 $52,967.68 $182.91 $0.00 $299.49 $53,450.08
174 $53,450.08 $182.91 $0.00 $302.21 $53,935.20
175 $53,935.20 $182.91 $0.00 $304.96 $54,423.07
176 $54,423.07 $182.91 $0.00 $307.72 $54,913.70
177 $54,913.70 $182.91 $0.00 $310.49 $55,407.10
178 $55,407.10 $182.91 $0.00 $313.28 $55,903.29
179 $55,903.29 $182.91 $0.00 $316.09 $56,402.29
180 $56,402.29 $182.91 $0.00 $318.91 $56,904.11
181 $56,904.11 $182.91 $0.00 $321.74 $57,408.76
182 $57,408.76 $182.91 $0.00 $324.60 $57,916.27
183 $57,916.27 $182.91 $0.00 $327.47 $58,426.65
184 $58,426.65 $182.91 $0.00 $330.35 $58,939.91
185 $58,939.91 $182.91 $0.00 $333.25 $59,456.07
186 $59,456.07 $182.91 $0.00 $336.17 $59,975.15
187 $59,975.15 $182.91 $0.00 $339.11 $60,497.17
188 $60,497.17 $182.91 $0.00 $342.06 $61,022.14
189 $61,022.14 $182.91 $0.00 $345.03 $61,550.08
190 $61,550.08 $182.91 $0.00 $348.01 $62,081.00
191 $62,081.00 $182.91 $0.00 $351.01 $62,614.92
192 $62,614.92 $182.91 $0.00 $354.03 $63,151.86
193 $63,151.86 $182.91 $0.00 $357.07 $63,691.84
194 $63,691.84 $182.91 $0.00 $360.12 $64,234.87
195 $64,234.87 $182.91 $0.00 $363.19 $64,780.97
196 $64,780.97 $182.91 $0.00 $366.28 $65,330.16
197 $65,330.16 $182.91 $0.00 $369.39 $65,882.46
198 $65,882.46 $182.91 $0.00 $372.51 $66,437.88
199 $66,437.88 $182.91 $0.00 $375.65 $66,996.44
200 $66,996.44 $182.91 $0.00 $378.81 $67,558.16
201 $67,558.16 $182.91 $0.00 $381.98 $68,123.05
202 $68,123.05 $182.91 $0.00 $385.18 $68,691.14
203 $68,691.14 $182.91 $0.00 $388.39 $69,262.44
204 $69,262.44 $182.91 $0.00 $391.62 $69,836.97
205 $69,836.97 $182.91 $0.00 $394.87 $70,414.75
206 $70,414.75 $182.91 $0.00 $398.14 $70,995.80
207 $70,995.80 $182.91 $0.00 $401.42 $71,580.13
208 $71,580.13 $182.91 $0.00 $404.72 $72,167.76
209 $72,167.76 $182.91 $0.00 $408.05 $72,758.72
210 $72,758.72 $182.91 $0.00 $411.39 $73,353.02
211 $73,353.02 $182.91 $0.00 $414.75 $73,950.68
212 $73,950.68 $182.91 $0.00 $418.13 $74,551.72
213 $74,551.72 $182.91 $0.00 $421.53 $75,156.16
214 $75,156.16 $182.91 $0.00 $424.94 $75,764.01
215 $75,764.01 $182.91 $0.00 $428.38 $76,375.30
216 $76,375.30 $182.91 $0.00 $431.84 $76,990.05
217 $76,990.05 $182.91 $40,152.04 $435.31 $37,456.23
218 $37,456.23 $182.91 $0.00 $211.78 $37,850.92
219 $37,850.92 $182.91 $0.00 $214.01 $38,247.84
220 $38,247.84 $182.91 $0.00 $216.26 $38,647.01
221 $38,647.01 $182.91 $0.00 $218.52 $39,048.44
222 $39,048.44 $182.91 $0.00 $220.79 $39,452.14
223 $39,452.14 $182.91 $0.00 $223.07 $39,858.12
224 $39,858.12 $182.91 $0.00 $225.36 $40,266.39
225 $40,266.39 $182.91 $0.00 $227.67 $40,676.97
226 $40,676.97 $182.91 $0.00 $229.99 $41,089.87
227 $41,089.87 $182.91 $0.00 $232.33 $41,505.11
228 $41,505.11 $182.91 $0.00 $234.68 $41,922.70
229 $41,922.70 $0.00 $42,159.64 $237.04 $0.10