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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$37,276
Monthly savings required$166

How much will it cost to send your child to Baltimore City Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $74,551.17 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $165.66 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$15,111.00
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 $165.66 $0.00 $0.00 $165.66
2 $165.66 $165.66 $0.00 $0.94 $332.26
3 $332.26 $165.66 $0.00 $1.88 $499.80
4 $499.80 $165.66 $0.00 $2.83 $668.29
5 $668.29 $165.66 $0.00 $3.78 $837.73
6 $837.73 $165.66 $0.00 $4.74 $1,008.13
7 $1,008.13 $165.66 $0.00 $5.70 $1,179.49
8 $1,179.49 $165.66 $0.00 $6.67 $1,351.82
9 $1,351.82 $165.66 $0.00 $7.64 $1,525.12
10 $1,525.12 $165.66 $0.00 $8.62 $1,699.40
11 $1,699.40 $165.66 $0.00 $9.61 $1,874.67
12 $1,874.67 $165.66 $0.00 $10.60 $2,050.93
13 $2,050.93 $165.66 $0.00 $11.60 $2,228.19
14 $2,228.19 $165.66 $0.00 $12.60 $2,406.45
15 $2,406.45 $165.66 $0.00 $13.61 $2,585.72
16 $2,585.72 $165.66 $0.00 $14.62 $2,766.00
17 $2,766.00 $165.66 $0.00 $15.64 $2,947.30
18 $2,947.30 $165.66 $0.00 $16.66 $3,129.62
19 $3,129.62 $165.66 $0.00 $17.70 $3,312.98
20 $3,312.98 $165.66 $0.00 $18.73 $3,497.37
21 $3,497.37 $165.66 $0.00 $19.77 $3,682.80
22 $3,682.80 $165.66 $0.00 $20.82 $3,869.28
23 $3,869.28 $165.66 $0.00 $21.88 $4,056.82
24 $4,056.82 $165.66 $0.00 $22.94 $4,245.42
25 $4,245.42 $165.66 $0.00 $24.00 $4,435.08
26 $4,435.08 $165.66 $0.00 $25.08 $4,625.82
27 $4,625.82 $165.66 $0.00 $26.16 $4,817.64
28 $4,817.64 $165.66 $0.00 $27.24 $5,010.54
29 $5,010.54 $165.66 $0.00 $28.33 $5,204.53
30 $5,204.53 $165.66 $0.00 $29.43 $5,399.62
31 $5,399.62 $165.66 $0.00 $30.53 $5,595.81
32 $5,595.81 $165.66 $0.00 $31.64 $5,793.11
33 $5,793.11 $165.66 $0.00 $32.76 $5,991.53
34 $5,991.53 $165.66 $0.00 $33.88 $6,191.07
35 $6,191.07 $165.66 $0.00 $35.01 $6,391.74
36 $6,391.74 $165.66 $0.00 $36.14 $6,593.54
37 $6,593.54 $165.66 $0.00 $37.28 $6,796.48
38 $6,796.48 $165.66 $0.00 $38.43 $7,000.57
39 $7,000.57 $165.66 $0.00 $39.58 $7,205.81
40 $7,205.81 $165.66 $0.00 $40.74 $7,412.21
41 $7,412.21 $165.66 $0.00 $41.91 $7,619.78
42 $7,619.78 $165.66 $0.00 $43.08 $7,828.52
43 $7,828.52 $165.66 $0.00 $44.26 $8,038.44
44 $8,038.44 $165.66 $0.00 $45.45 $8,249.55
45 $8,249.55 $165.66 $0.00 $46.64 $8,461.85
46 $8,461.85 $165.66 $0.00 $47.84 $8,675.35
47 $8,675.35 $165.66 $0.00 $49.05 $8,890.06
48 $8,890.06 $165.66 $0.00 $50.27 $9,105.99
49 $9,105.99 $165.66 $0.00 $51.49 $9,323.14
50 $9,323.14 $165.66 $0.00 $52.71 $9,541.51
51 $9,541.51 $165.66 $0.00 $53.95 $9,761.12
52 $9,761.12 $165.66 $0.00 $55.19 $9,981.97
53 $9,981.97 $165.66 $0.00 $56.44 $10,204.07
54 $10,204.07 $165.66 $0.00 $57.70 $10,427.43
55 $10,427.43 $165.66 $0.00 $58.96 $10,652.05
56 $10,652.05 $165.66 $0.00 $60.23 $10,877.94
57 $10,877.94 $165.66 $0.00 $61.51 $11,105.11
58 $11,105.11 $165.66 $0.00 $62.79 $11,333.56
59 $11,333.56 $165.66 $0.00 $64.08 $11,563.30
60 $11,563.30 $165.66 $0.00 $65.38 $11,794.34
61 $11,794.34 $165.66 $0.00 $66.69 $12,026.69
62 $12,026.69 $165.66 $0.00 $68.00 $12,260.35
63 $12,260.35 $165.66 $0.00 $69.32 $12,495.33
64 $12,495.33 $165.66 $0.00 $70.65 $12,731.64
65 $12,731.64 $165.66 $0.00 $71.99 $12,969.29
66 $12,969.29 $165.66 $0.00 $73.33 $13,208.28
67 $13,208.28 $165.66 $0.00 $74.68 $13,448.62
68 $13,448.62 $165.66 $0.00 $76.04 $13,690.32
69 $13,690.32 $165.66 $0.00 $77.41 $13,933.39
70 $13,933.39 $165.66 $0.00 $78.78 $14,177.83
71 $14,177.83 $165.66 $0.00 $80.16 $14,423.65
72 $14,423.65 $165.66 $0.00 $81.55 $14,670.86
73 $14,670.86 $165.66 $0.00 $82.95 $14,919.47
74 $14,919.47 $165.66 $0.00 $84.36 $15,169.49
75 $15,169.49 $165.66 $0.00 $85.77 $15,420.92
76 $15,420.92 $165.66 $0.00 $87.19 $15,673.77
77 $15,673.77 $165.66 $0.00 $88.62 $15,928.05
78 $15,928.05 $165.66 $0.00 $90.06 $16,183.77
79 $16,183.77 $165.66 $0.00 $91.51 $16,440.94
80 $16,440.94 $165.66 $0.00 $92.96 $16,699.56
81 $16,699.56 $165.66 $0.00 $94.42 $16,959.64
82 $16,959.64 $165.66 $0.00 $95.89 $17,221.19
83 $17,221.19 $165.66 $0.00 $97.37 $17,484.22
84 $17,484.22 $165.66 $0.00 $98.86 $17,748.74
85 $17,748.74 $165.66 $0.00 $100.35 $18,014.75
86 $18,014.75 $165.66 $0.00 $101.86 $18,282.27
87 $18,282.27 $165.66 $0.00 $103.37 $18,551.30
88 $18,551.30 $165.66 $0.00 $104.89 $18,821.85
89 $18,821.85 $165.66 $0.00 $106.42 $19,093.93
90 $19,093.93 $165.66 $0.00 $107.96 $19,367.55
91 $19,367.55 $165.66 $0.00 $109.51 $19,642.72
92 $19,642.72 $165.66 $0.00 $111.06 $19,919.44
93 $19,919.44 $165.66 $0.00 $112.63 $20,197.73
94 $20,197.73 $165.66 $0.00 $114.20 $20,477.59
95 $20,477.59 $165.66 $0.00 $115.78 $20,759.03
96 $20,759.03 $165.66 $0.00 $117.37 $21,042.06
97 $21,042.06 $165.66 $0.00 $118.97 $21,326.69
98 $21,326.69 $165.66 $0.00 $120.58 $21,612.93
99 $21,612.93 $165.66 $0.00 $122.20 $21,900.79
100 $21,900.79 $165.66 $0.00 $123.83 $22,190.28
101 $22,190.28 $165.66 $0.00 $125.47 $22,481.41
102 $22,481.41 $165.66 $0.00 $127.11 $22,774.18
103 $22,774.18 $165.66 $0.00 $128.77 $23,068.61
104 $23,068.61 $165.66 $0.00 $130.43 $23,364.70
105 $23,364.70 $165.66 $0.00 $132.11 $23,662.47
106 $23,662.47 $165.66 $0.00 $133.79 $23,961.92
107 $23,961.92 $165.66 $0.00 $135.48 $24,263.06
108 $24,263.06 $165.66 $0.00 $137.19 $24,565.91
109 $24,565.91 $165.66 $0.00 $138.90 $24,870.47
110 $24,870.47 $165.66 $0.00 $140.62 $25,176.75
111 $25,176.75 $165.66 $0.00 $142.35 $25,484.76
112 $25,484.76 $165.66 $0.00 $144.09 $25,794.51
113 $25,794.51 $165.66 $0.00 $145.85 $26,106.02
114 $26,106.02 $165.66 $0.00 $147.61 $26,419.29
115 $26,419.29 $165.66 $0.00 $149.38 $26,734.33
116 $26,734.33 $165.66 $0.00 $151.16 $27,051.15
117 $27,051.15 $165.66 $0.00 $152.95 $27,369.76
118 $27,369.76 $165.66 $0.00 $154.75 $27,690.17
119 $27,690.17 $165.66 $0.00 $156.56 $28,012.39
120 $28,012.39 $165.66 $0.00 $158.39 $28,336.44
121 $28,336.44 $165.66 $0.00 $160.22 $28,662.32
122 $28,662.32 $165.66 $0.00 $162.06 $28,990.04
123 $28,990.04 $165.66 $0.00 $163.91 $29,319.61
124 $29,319.61 $165.66 $0.00 $165.78 $29,651.05
125 $29,651.05 $165.66 $0.00 $167.65 $29,984.36
126 $29,984.36 $165.66 $0.00 $169.54 $30,319.56
127 $30,319.56 $165.66 $0.00 $171.43 $30,656.65
128 $30,656.65 $165.66 $0.00 $173.34 $30,995.65
129 $30,995.65 $165.66 $0.00 $175.25 $31,336.56
130 $31,336.56 $165.66 $0.00 $177.18 $31,679.40
131 $31,679.40 $165.66 $0.00 $179.12 $32,024.18
132 $32,024.18 $165.66 $0.00 $181.07 $32,370.91
133 $32,370.91 $165.66 $0.00 $183.03 $32,719.60
134 $32,719.60 $165.66 $0.00 $185.00 $33,070.26
135 $33,070.26 $165.66 $0.00 $186.98 $33,422.90
136 $33,422.90 $165.66 $0.00 $188.98 $33,777.54
137 $33,777.54 $165.66 $0.00 $190.98 $34,134.18
138 $34,134.18 $165.66 $0.00 $193.00 $34,492.84
139 $34,492.84 $165.66 $0.00 $195.03 $34,853.53
140 $34,853.53 $165.66 $0.00 $197.07 $35,216.26
141 $35,216.26 $165.66 $0.00 $199.12 $35,581.04
142 $35,581.04 $165.66 $0.00 $201.18 $35,947.88
143 $35,947.88 $165.66 $0.00 $203.25 $36,316.79
144 $36,316.79 $165.66 $0.00 $205.34 $36,687.79
145 $36,687.79 $165.66 $0.00 $207.44 $37,060.89
146 $37,060.89 $165.66 $0.00 $209.55 $37,436.10
147 $37,436.10 $165.66 $0.00 $211.67 $37,813.43
148 $37,813.43 $165.66 $0.00 $213.80 $38,192.89
149 $38,192.89 $165.66 $0.00 $215.95 $38,574.50
150 $38,574.50 $165.66 $0.00 $218.11 $38,958.27
151 $38,958.27 $165.66 $0.00 $220.28 $39,344.21
152 $39,344.21 $165.66 $0.00 $222.46 $39,732.33
153 $39,732.33 $165.66 $0.00 $224.65 $40,122.64
154 $40,122.64 $165.66 $0.00 $226.86 $40,515.16
155 $40,515.16 $165.66 $0.00 $229.08 $40,909.90
156 $40,909.90 $165.66 $0.00 $231.31 $41,306.87
157 $41,306.87 $165.66 $0.00 $233.56 $41,706.09
158 $41,706.09 $165.66 $0.00 $235.81 $42,107.56
159 $42,107.56 $165.66 $0.00 $238.08 $42,511.30
160 $42,511.30 $165.66 $0.00 $240.37 $42,917.33
161 $42,917.33 $165.66 $0.00 $242.66 $43,325.65
162 $43,325.65 $165.66 $0.00 $244.97 $43,736.28
163 $43,736.28 $165.66 $0.00 $247.29 $44,149.23
164 $44,149.23 $165.66 $0.00 $249.63 $44,564.52
165 $44,564.52 $165.66 $0.00 $251.97 $44,982.15
166 $44,982.15 $165.66 $0.00 $254.34 $45,402.15
167 $45,402.15 $165.66 $0.00 $256.71 $45,824.52
168 $45,824.52 $165.66 $0.00 $259.10 $46,249.28
169 $46,249.28 $165.66 $0.00 $261.50 $46,676.44
170 $46,676.44 $165.66 $0.00 $263.92 $47,106.02
171 $47,106.02 $165.66 $0.00 $266.34 $47,538.02
172 $47,538.02 $165.66 $0.00 $268.79 $47,972.47
173 $47,972.47 $165.66 $0.00 $271.24 $48,409.37
174 $48,409.37 $165.66 $0.00 $273.71 $48,848.74
175 $48,848.74 $165.66 $0.00 $276.20 $49,290.60
176 $49,290.60 $165.66 $0.00 $278.70 $49,734.96
177 $49,734.96 $165.66 $0.00 $281.21 $50,181.83
178 $50,181.83 $165.66 $0.00 $283.74 $50,631.23
179 $50,631.23 $165.66 $0.00 $286.28 $51,083.17
180 $51,083.17 $165.66 $0.00 $288.83 $51,537.66
181 $51,537.66 $165.66 $0.00 $291.40 $51,994.72
182 $51,994.72 $165.66 $0.00 $293.99 $52,454.37
183 $52,454.37 $165.66 $0.00 $296.58 $52,916.61
184 $52,916.61 $165.66 $0.00 $299.20 $53,381.47
185 $53,381.47 $165.66 $0.00 $301.83 $53,848.96
186 $53,848.96 $165.66 $0.00 $304.47 $54,319.09
187 $54,319.09 $165.66 $0.00 $307.13 $54,791.88
188 $54,791.88 $165.66 $0.00 $309.80 $55,267.34
189 $55,267.34 $165.66 $0.00 $312.49 $55,745.49
190 $55,745.49 $165.66 $0.00 $315.19 $56,226.34
191 $56,226.34 $165.66 $0.00 $317.91 $56,709.91
192 $56,709.91 $165.66 $0.00 $320.65 $57,196.22
193 $57,196.22 $165.66 $0.00 $323.40 $57,685.28
194 $57,685.28 $165.66 $0.00 $326.16 $58,177.10
195 $58,177.10 $165.66 $0.00 $328.94 $58,671.70
196 $58,671.70 $165.66 $0.00 $331.74 $59,169.10
197 $59,169.10 $165.66 $0.00 $334.55 $59,669.31
198 $59,669.31 $165.66 $0.00 $337.38 $60,172.35
199 $60,172.35 $165.66 $0.00 $340.22 $60,678.23
200 $60,678.23 $165.66 $0.00 $343.08 $61,186.97
201 $61,186.97 $165.66 $0.00 $345.96 $61,698.59
202 $61,698.59 $165.66 $0.00 $348.85 $62,213.10
203 $62,213.10 $165.66 $0.00 $351.76 $62,730.52
204 $62,730.52 $165.66 $0.00 $354.69 $63,250.87
205 $63,250.87 $165.66 $0.00 $357.63 $63,774.16
206 $63,774.16 $165.66 $0.00 $360.59 $64,300.41
207 $64,300.41 $165.66 $0.00 $363.56 $64,829.63
208 $64,829.63 $165.66 $0.00 $366.56 $65,361.85
209 $65,361.85 $165.66 $0.00 $369.57 $65,897.08
210 $65,897.08 $165.66 $0.00 $372.59 $66,435.33
211 $66,435.33 $165.66 $0.00 $375.64 $66,976.63
212 $66,976.63 $165.66 $0.00 $378.70 $67,520.99
213 $67,520.99 $165.66 $0.00 $381.77 $68,068.42
214 $68,068.42 $165.66 $0.00 $384.87 $68,618.95
215 $68,618.95 $165.66 $0.00 $387.98 $69,172.59
216 $69,172.59 $165.66 $0.00 $391.11 $69,729.36
217 $69,729.36 $165.66 $36,366.42 $394.26 $33,922.86
218 $33,922.86 $165.66 $0.00 $191.80 $34,280.32
219 $34,280.32 $165.66 $0.00 $193.83 $34,639.81
220 $34,639.81 $165.66 $0.00 $195.86 $35,001.33
221 $35,001.33 $165.66 $0.00 $197.90 $35,364.89
222 $35,364.89 $165.66 $0.00 $199.96 $35,730.51
223 $35,730.51 $165.66 $0.00 $202.03 $36,098.20
224 $36,098.20 $165.66 $0.00 $204.10 $36,467.96
225 $36,467.96 $165.66 $0.00 $206.20 $36,839.82
226 $36,839.82 $165.66 $0.00 $208.30 $37,213.78
227 $37,213.78 $165.66 $0.00 $210.41 $37,589.85
228 $37,589.85 $165.66 $0.00 $212.54 $37,968.05
229 $37,968.05 $0.00 $38,184.74 $214.68 ($2.01)