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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$53,670
Monthly savings required$239

How much will it cost to send your child to College of Southern Maryland in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $107,339.67 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $238.53 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$21,757.00
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 $238.53 $0.00 $0.00 $238.53
2 $238.53 $238.53 $0.00 $1.35 $478.41
3 $478.41 $238.53 $0.00 $2.70 $719.64
4 $719.64 $238.53 $0.00 $4.07 $962.24
5 $962.24 $238.53 $0.00 $5.44 $1,206.21
6 $1,206.21 $238.53 $0.00 $6.82 $1,451.56
7 $1,451.56 $238.53 $0.00 $8.21 $1,698.30
8 $1,698.30 $238.53 $0.00 $9.60 $1,946.43
9 $1,946.43 $238.53 $0.00 $11.01 $2,195.97
10 $2,195.97 $238.53 $0.00 $12.42 $2,446.92
11 $2,446.92 $238.53 $0.00 $13.84 $2,699.29
12 $2,699.29 $238.53 $0.00 $15.26 $2,953.08
13 $2,953.08 $238.53 $0.00 $16.70 $3,208.31
14 $3,208.31 $238.53 $0.00 $18.14 $3,464.98
15 $3,464.98 $238.53 $0.00 $19.59 $3,723.10
16 $3,723.10 $238.53 $0.00 $21.05 $3,982.68
17 $3,982.68 $238.53 $0.00 $22.52 $4,243.73
18 $4,243.73 $238.53 $0.00 $23.99 $4,506.25
19 $4,506.25 $238.53 $0.00 $25.48 $4,770.26
20 $4,770.26 $238.53 $0.00 $26.97 $5,035.76
21 $5,035.76 $238.53 $0.00 $28.47 $5,302.76
22 $5,302.76 $238.53 $0.00 $29.98 $5,571.27
23 $5,571.27 $238.53 $0.00 $31.50 $5,841.30
24 $5,841.30 $238.53 $0.00 $33.03 $6,112.86
25 $6,112.86 $238.53 $0.00 $34.56 $6,385.95
26 $6,385.95 $238.53 $0.00 $36.11 $6,660.59
27 $6,660.59 $238.53 $0.00 $37.66 $6,936.78
28 $6,936.78 $238.53 $0.00 $39.22 $7,214.53
29 $7,214.53 $238.53 $0.00 $40.79 $7,493.85
30 $7,493.85 $238.53 $0.00 $42.37 $7,774.75
31 $7,774.75 $238.53 $0.00 $43.96 $8,057.24
32 $8,057.24 $238.53 $0.00 $45.56 $8,341.33
33 $8,341.33 $238.53 $0.00 $47.16 $8,627.02
34 $8,627.02 $238.53 $0.00 $48.78 $8,914.33
35 $8,914.33 $238.53 $0.00 $50.40 $9,203.26
36 $9,203.26 $238.53 $0.00 $52.04 $9,493.83
37 $9,493.83 $238.53 $0.00 $53.68 $9,786.04
38 $9,786.04 $238.53 $0.00 $55.33 $10,079.90
39 $10,079.90 $238.53 $0.00 $56.99 $10,375.42
40 $10,375.42 $238.53 $0.00 $58.66 $10,672.61
41 $10,672.61 $238.53 $0.00 $60.34 $10,971.48
42 $10,971.48 $238.53 $0.00 $62.03 $11,272.04
43 $11,272.04 $238.53 $0.00 $63.73 $11,574.30
44 $11,574.30 $238.53 $0.00 $65.44 $11,878.27
45 $11,878.27 $238.53 $0.00 $67.16 $12,183.96
46 $12,183.96 $238.53 $0.00 $68.89 $12,491.38
47 $12,491.38 $238.53 $0.00 $70.63 $12,800.54
48 $12,800.54 $238.53 $0.00 $72.38 $13,111.45
49 $13,111.45 $238.53 $0.00 $74.13 $13,424.11
50 $13,424.11 $238.53 $0.00 $75.90 $13,738.54
51 $13,738.54 $238.53 $0.00 $77.68 $14,054.75
52 $14,054.75 $238.53 $0.00 $79.47 $14,372.75
53 $14,372.75 $238.53 $0.00 $81.27 $14,692.55
54 $14,692.55 $238.53 $0.00 $83.07 $15,014.15
55 $15,014.15 $238.53 $0.00 $84.89 $15,337.57
56 $15,337.57 $238.53 $0.00 $86.72 $15,662.82
57 $15,662.82 $238.53 $0.00 $88.56 $15,989.91
58 $15,989.91 $238.53 $0.00 $90.41 $16,318.85
59 $16,318.85 $238.53 $0.00 $92.27 $16,649.65
60 $16,649.65 $238.53 $0.00 $94.14 $16,982.32
61 $16,982.32 $238.53 $0.00 $96.02 $17,316.87
62 $17,316.87 $238.53 $0.00 $97.91 $17,653.31
63 $17,653.31 $238.53 $0.00 $99.81 $17,991.65
64 $17,991.65 $238.53 $0.00 $101.73 $18,331.91
65 $18,331.91 $238.53 $0.00 $103.65 $18,674.09
66 $18,674.09 $238.53 $0.00 $105.59 $19,018.21
67 $19,018.21 $238.53 $0.00 $107.53 $19,364.27
68 $19,364.27 $238.53 $0.00 $109.49 $19,712.29
69 $19,712.29 $238.53 $0.00 $111.46 $20,062.28
70 $20,062.28 $238.53 $0.00 $113.44 $20,414.25
71 $20,414.25 $238.53 $0.00 $115.43 $20,768.21
72 $20,768.21 $238.53 $0.00 $117.43 $21,124.17
73 $21,124.17 $238.53 $0.00 $119.44 $21,482.14
74 $21,482.14 $238.53 $0.00 $121.46 $21,842.13
75 $21,842.13 $238.53 $0.00 $123.50 $22,204.16
76 $22,204.16 $238.53 $0.00 $125.55 $22,568.24
77 $22,568.24 $238.53 $0.00 $127.60 $22,934.37
78 $22,934.37 $238.53 $0.00 $129.67 $23,302.57
79 $23,302.57 $238.53 $0.00 $131.76 $23,672.86
80 $23,672.86 $238.53 $0.00 $133.85 $24,045.24
81 $24,045.24 $238.53 $0.00 $135.96 $24,419.73
82 $24,419.73 $238.53 $0.00 $138.07 $24,796.33
83 $24,796.33 $238.53 $0.00 $140.20 $25,175.06
84 $25,175.06 $238.53 $0.00 $142.34 $25,555.93
85 $25,555.93 $238.53 $0.00 $144.50 $25,938.96
86 $25,938.96 $238.53 $0.00 $146.66 $26,324.15
87 $26,324.15 $238.53 $0.00 $148.84 $26,711.52
88 $26,711.52 $238.53 $0.00 $151.03 $27,101.08
89 $27,101.08 $238.53 $0.00 $153.23 $27,492.84
90 $27,492.84 $238.53 $0.00 $155.45 $27,886.82
91 $27,886.82 $238.53 $0.00 $157.68 $28,283.03
92 $28,283.03 $238.53 $0.00 $159.92 $28,681.48
93 $28,681.48 $238.53 $0.00 $162.17 $29,082.18
94 $29,082.18 $238.53 $0.00 $164.43 $29,485.14
95 $29,485.14 $238.53 $0.00 $166.71 $29,890.38
96 $29,890.38 $238.53 $0.00 $169.00 $30,297.91
97 $30,297.91 $238.53 $0.00 $171.31 $30,707.75
98 $30,707.75 $238.53 $0.00 $173.63 $31,119.91
99 $31,119.91 $238.53 $0.00 $175.96 $31,534.40
100 $31,534.40 $238.53 $0.00 $178.30 $31,951.23
101 $31,951.23 $238.53 $0.00 $180.66 $32,370.42
102 $32,370.42 $238.53 $0.00 $183.03 $32,791.98
103 $32,791.98 $238.53 $0.00 $185.41 $33,215.92
104 $33,215.92 $238.53 $0.00 $187.81 $33,642.26
105 $33,642.26 $238.53 $0.00 $190.22 $34,071.01
106 $34,071.01 $238.53 $0.00 $192.64 $34,502.18
107 $34,502.18 $238.53 $0.00 $195.08 $34,935.79
108 $34,935.79 $238.53 $0.00 $197.53 $35,371.85
109 $35,371.85 $238.53 $0.00 $200.00 $35,810.38
110 $35,810.38 $238.53 $0.00 $202.48 $36,251.39
111 $36,251.39 $238.53 $0.00 $204.97 $36,694.89
112 $36,694.89 $238.53 $0.00 $207.48 $37,140.90
113 $37,140.90 $238.53 $0.00 $210.00 $37,589.43
114 $37,589.43 $238.53 $0.00 $212.54 $38,040.50
115 $38,040.50 $238.53 $0.00 $215.09 $38,494.12
116 $38,494.12 $238.53 $0.00 $217.65 $38,950.30
117 $38,950.30 $238.53 $0.00 $220.23 $39,409.06
118 $39,409.06 $238.53 $0.00 $222.82 $39,870.41
119 $39,870.41 $238.53 $0.00 $225.43 $40,334.37
120 $40,334.37 $238.53 $0.00 $228.06 $40,800.96
121 $40,800.96 $238.53 $0.00 $230.69 $41,270.18
122 $41,270.18 $238.53 $0.00 $233.35 $41,742.06
123 $41,742.06 $238.53 $0.00 $236.02 $42,216.61
124 $42,216.61 $238.53 $0.00 $238.70 $42,693.84
125 $42,693.84 $238.53 $0.00 $241.40 $43,173.77
126 $43,173.77 $238.53 $0.00 $244.11 $43,656.41
127 $43,656.41 $238.53 $0.00 $246.84 $44,141.78
128 $44,141.78 $238.53 $0.00 $249.58 $44,629.89
129 $44,629.89 $238.53 $0.00 $252.34 $45,120.76
130 $45,120.76 $238.53 $0.00 $255.12 $45,614.41
131 $45,614.41 $238.53 $0.00 $257.91 $46,110.85
132 $46,110.85 $238.53 $0.00 $260.72 $46,610.10
133 $46,610.10 $238.53 $0.00 $263.54 $47,112.17
134 $47,112.17 $238.53 $0.00 $266.38 $47,617.08
135 $47,617.08 $238.53 $0.00 $269.23 $48,124.84
136 $48,124.84 $238.53 $0.00 $272.10 $48,635.47
137 $48,635.47 $238.53 $0.00 $274.99 $49,148.99
138 $49,148.99 $238.53 $0.00 $277.90 $49,665.42
139 $49,665.42 $238.53 $0.00 $280.82 $50,184.77
140 $50,184.77 $238.53 $0.00 $283.75 $50,707.05
141 $50,707.05 $238.53 $0.00 $286.71 $51,232.29
142 $51,232.29 $238.53 $0.00 $289.67 $51,760.49
143 $51,760.49 $238.53 $0.00 $292.66 $52,291.68
144 $52,291.68 $238.53 $0.00 $295.66 $52,825.87
145 $52,825.87 $238.53 $0.00 $298.69 $53,363.09
146 $53,363.09 $238.53 $0.00 $301.72 $53,903.34
147 $53,903.34 $238.53 $0.00 $304.78 $54,446.65
148 $54,446.65 $238.53 $0.00 $307.85 $54,993.03
149 $54,993.03 $238.53 $0.00 $310.94 $55,542.50
150 $55,542.50 $238.53 $0.00 $314.05 $56,095.08
151 $56,095.08 $238.53 $0.00 $317.17 $56,650.78
152 $56,650.78 $238.53 $0.00 $320.31 $57,209.62
153 $57,209.62 $238.53 $0.00 $323.47 $57,771.62
154 $57,771.62 $238.53 $0.00 $326.65 $58,336.80
155 $58,336.80 $238.53 $0.00 $329.84 $58,905.17
156 $58,905.17 $238.53 $0.00 $333.06 $59,476.76
157 $59,476.76 $238.53 $0.00 $336.29 $60,051.58
158 $60,051.58 $238.53 $0.00 $339.54 $60,629.65
159 $60,629.65 $238.53 $0.00 $342.81 $61,210.99
160 $61,210.99 $238.53 $0.00 $346.10 $61,795.62
161 $61,795.62 $238.53 $0.00 $349.40 $62,383.55
162 $62,383.55 $238.53 $0.00 $352.73 $62,974.81
163 $62,974.81 $238.53 $0.00 $356.07 $63,569.41
164 $63,569.41 $238.53 $0.00 $359.43 $64,167.37
165 $64,167.37 $238.53 $0.00 $362.81 $64,768.71
166 $64,768.71 $238.53 $0.00 $366.21 $65,373.45
167 $65,373.45 $238.53 $0.00 $369.63 $65,981.61
168 $65,981.61 $238.53 $0.00 $373.07 $66,593.21
169 $66,593.21 $238.53 $0.00 $376.53 $67,208.27
170 $67,208.27 $238.53 $0.00 $380.01 $67,826.81
171 $67,826.81 $238.53 $0.00 $383.50 $68,448.84
172 $68,448.84 $238.53 $0.00 $387.02 $69,074.39
173 $69,074.39 $238.53 $0.00 $390.56 $69,703.48
174 $69,703.48 $238.53 $0.00 $394.11 $70,336.12
175 $70,336.12 $238.53 $0.00 $397.69 $70,972.34
176 $70,972.34 $238.53 $0.00 $401.29 $71,612.16
177 $71,612.16 $238.53 $0.00 $404.91 $72,255.60
178 $72,255.60 $238.53 $0.00 $408.54 $72,902.67
179 $72,902.67 $238.53 $0.00 $412.20 $73,553.40
180 $73,553.40 $238.53 $0.00 $415.88 $74,207.81
181 $74,207.81 $238.53 $0.00 $419.58 $74,865.92
182 $74,865.92 $238.53 $0.00 $423.30 $75,527.75
183 $75,527.75 $238.53 $0.00 $427.04 $76,193.32
184 $76,193.32 $238.53 $0.00 $430.81 $76,862.66
185 $76,862.66 $238.53 $0.00 $434.59 $77,535.78
186 $77,535.78 $238.53 $0.00 $438.40 $78,212.71
187 $78,212.71 $238.53 $0.00 $442.23 $78,893.47
188 $78,893.47 $238.53 $0.00 $446.08 $79,578.08
189 $79,578.08 $238.53 $0.00 $449.95 $80,266.56
190 $80,266.56 $238.53 $0.00 $453.84 $80,958.93
191 $80,958.93 $238.53 $0.00 $457.75 $81,655.21
192 $81,655.21 $238.53 $0.00 $461.69 $82,355.43
193 $82,355.43 $238.53 $0.00 $465.65 $83,059.61
194 $83,059.61 $238.53 $0.00 $469.63 $83,767.77
195 $83,767.77 $238.53 $0.00 $473.64 $84,479.94
196 $84,479.94 $238.53 $0.00 $477.66 $85,196.13
197 $85,196.13 $238.53 $0.00 $481.71 $85,916.37
198 $85,916.37 $238.53 $0.00 $485.78 $86,640.68
199 $86,640.68 $238.53 $0.00 $489.88 $87,369.09
200 $87,369.09 $238.53 $0.00 $494.00 $88,101.62
201 $88,101.62 $238.53 $0.00 $498.14 $88,838.29
202 $88,838.29 $238.53 $0.00 $502.30 $89,579.12
203 $89,579.12 $238.53 $0.00 $506.49 $90,324.14
204 $90,324.14 $238.53 $0.00 $510.71 $91,073.38
205 $91,073.38 $238.53 $0.00 $514.94 $91,826.85
206 $91,826.85 $238.53 $0.00 $519.20 $92,584.58
207 $92,584.58 $238.53 $0.00 $523.49 $93,346.60
208 $93,346.60 $238.53 $0.00 $527.80 $94,112.93
209 $94,112.93 $238.53 $0.00 $532.13 $94,883.59
210 $94,883.59 $238.53 $0.00 $536.49 $95,658.61
211 $95,658.61 $238.53 $0.00 $540.87 $96,438.01
212 $96,438.01 $238.53 $0.00 $545.27 $97,221.81
213 $97,221.81 $238.53 $0.00 $549.71 $98,010.05
214 $98,010.05 $238.53 $0.00 $554.16 $98,802.74
215 $98,802.74 $238.53 $0.00 $558.65 $99,599.92
216 $99,599.92 $238.53 $0.00 $563.15 $100,401.60
217 $100,401.60 $238.53 $52,360.81 $567.69 $48,847.01
218 $48,847.01 $238.53 $0.00 $276.19 $49,361.73
219 $49,361.73 $238.53 $0.00 $279.10 $49,879.36
220 $49,879.36 $238.53 $0.00 $282.03 $50,399.92
221 $50,399.92 $238.53 $0.00 $284.97 $50,923.42
222 $50,923.42 $238.53 $0.00 $287.93 $51,449.88
223 $51,449.88 $238.53 $0.00 $290.91 $51,979.32
224 $51,979.32 $238.53 $0.00 $293.90 $52,511.75
225 $52,511.75 $238.53 $0.00 $296.91 $53,047.19
226 $53,047.19 $238.53 $0.00 $299.94 $53,585.66
227 $53,585.66 $238.53 $0.00 $302.98 $54,127.17
228 $54,127.17 $238.53 $0.00 $306.04 $54,671.74
229 $54,671.74 $0.00 $54,978.86 $309.12 $2.00