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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$41,763
Monthly savings required$186

How much will it cost to send your child to Henry Ford Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $83,525.33 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $185.61 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$16,930.00
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 $185.61 $0.00 $0.00 $185.61
2 $185.61 $185.61 $0.00 $1.05 $372.27
3 $372.27 $185.61 $0.00 $2.10 $559.98
4 $559.98 $185.61 $0.00 $3.17 $748.76
5 $748.76 $185.61 $0.00 $4.23 $938.60
6 $938.60 $185.61 $0.00 $5.31 $1,129.52
7 $1,129.52 $185.61 $0.00 $6.39 $1,321.52
8 $1,321.52 $185.61 $0.00 $7.47 $1,514.60
9 $1,514.60 $185.61 $0.00 $8.56 $1,708.77
10 $1,708.77 $185.61 $0.00 $9.66 $1,904.04
11 $1,904.04 $185.61 $0.00 $10.77 $2,100.42
12 $2,100.42 $185.61 $0.00 $11.88 $2,297.91
13 $2,297.91 $185.61 $0.00 $12.99 $2,496.51
14 $2,496.51 $185.61 $0.00 $14.12 $2,696.24
15 $2,696.24 $185.61 $0.00 $15.24 $2,897.09
16 $2,897.09 $185.61 $0.00 $16.38 $3,099.08
17 $3,099.08 $185.61 $0.00 $17.52 $3,302.21
18 $3,302.21 $185.61 $0.00 $18.67 $3,506.49
19 $3,506.49 $185.61 $0.00 $19.83 $3,711.93
20 $3,711.93 $185.61 $0.00 $20.99 $3,918.53
21 $3,918.53 $185.61 $0.00 $22.16 $4,126.30
22 $4,126.30 $185.61 $0.00 $23.33 $4,335.24
23 $4,335.24 $185.61 $0.00 $24.51 $4,545.36
24 $4,545.36 $185.61 $0.00 $25.70 $4,756.67
25 $4,756.67 $185.61 $0.00 $26.89 $4,969.17
26 $4,969.17 $185.61 $0.00 $28.10 $5,182.88
27 $5,182.88 $185.61 $0.00 $29.30 $5,397.79
28 $5,397.79 $185.61 $0.00 $30.52 $5,613.92
29 $5,613.92 $185.61 $0.00 $31.74 $5,831.27
30 $5,831.27 $185.61 $0.00 $32.97 $6,049.85
31 $6,049.85 $185.61 $0.00 $34.21 $6,269.67
32 $6,269.67 $185.61 $0.00 $35.45 $6,490.73
33 $6,490.73 $185.61 $0.00 $36.70 $6,713.04
34 $6,713.04 $185.61 $0.00 $37.96 $6,936.61
35 $6,936.61 $185.61 $0.00 $39.22 $7,161.44
36 $7,161.44 $185.61 $0.00 $40.49 $7,387.54
37 $7,387.54 $185.61 $0.00 $41.77 $7,614.92
38 $7,614.92 $185.61 $0.00 $43.06 $7,843.59
39 $7,843.59 $185.61 $0.00 $44.35 $8,073.55
40 $8,073.55 $185.61 $0.00 $45.65 $8,304.81
41 $8,304.81 $185.61 $0.00 $46.96 $8,537.38
42 $8,537.38 $185.61 $0.00 $48.27 $8,771.26
43 $8,771.26 $185.61 $0.00 $49.59 $9,006.46
44 $9,006.46 $185.61 $0.00 $50.92 $9,242.99
45 $9,242.99 $185.61 $0.00 $52.26 $9,480.86
46 $9,480.86 $185.61 $0.00 $53.61 $9,720.08
47 $9,720.08 $185.61 $0.00 $54.96 $9,960.65
48 $9,960.65 $185.61 $0.00 $56.32 $10,202.58
49 $10,202.58 $185.61 $0.00 $57.69 $10,445.88
50 $10,445.88 $185.61 $0.00 $59.06 $10,690.55
51 $10,690.55 $185.61 $0.00 $60.45 $10,936.61
52 $10,936.61 $185.61 $0.00 $61.84 $11,184.06
53 $11,184.06 $185.61 $0.00 $63.24 $11,432.91
54 $11,432.91 $185.61 $0.00 $64.64 $11,683.16
55 $11,683.16 $185.61 $0.00 $66.06 $11,934.83
56 $11,934.83 $185.61 $0.00 $67.48 $12,187.92
57 $12,187.92 $185.61 $0.00 $68.91 $12,442.44
58 $12,442.44 $185.61 $0.00 $70.35 $12,698.40
59 $12,698.40 $185.61 $0.00 $71.80 $12,955.81
60 $12,955.81 $185.61 $0.00 $73.25 $13,214.67
61 $13,214.67 $185.61 $0.00 $74.72 $13,475.00
62 $13,475.00 $185.61 $0.00 $76.19 $13,736.80
63 $13,736.80 $185.61 $0.00 $77.67 $14,000.08
64 $14,000.08 $185.61 $0.00 $79.16 $14,264.85
65 $14,264.85 $185.61 $0.00 $80.66 $14,531.12
66 $14,531.12 $185.61 $0.00 $82.16 $14,798.89
67 $14,798.89 $185.61 $0.00 $83.68 $15,068.18
68 $15,068.18 $185.61 $0.00 $85.20 $15,338.99
69 $15,338.99 $185.61 $0.00 $86.73 $15,611.33
70 $15,611.33 $185.61 $0.00 $88.27 $15,885.21
71 $15,885.21 $185.61 $0.00 $89.82 $16,160.64
72 $16,160.64 $185.61 $0.00 $91.37 $16,437.62
73 $16,437.62 $185.61 $0.00 $92.94 $16,716.17
74 $16,716.17 $185.61 $0.00 $94.52 $16,996.30
75 $16,996.30 $185.61 $0.00 $96.10 $17,278.01
76 $17,278.01 $185.61 $0.00 $97.69 $17,561.31
77 $17,561.31 $185.61 $0.00 $99.29 $17,846.21
78 $17,846.21 $185.61 $0.00 $100.91 $18,132.73
79 $18,132.73 $185.61 $0.00 $102.53 $18,420.87
80 $18,420.87 $185.61 $0.00 $104.15 $18,710.63
81 $18,710.63 $185.61 $0.00 $105.79 $19,002.03
82 $19,002.03 $185.61 $0.00 $107.44 $19,295.08
83 $19,295.08 $185.61 $0.00 $109.10 $19,589.79
84 $19,589.79 $185.61 $0.00 $110.76 $19,886.16
85 $19,886.16 $185.61 $0.00 $112.44 $20,184.21
86 $20,184.21 $185.61 $0.00 $114.12 $20,483.94
87 $20,483.94 $185.61 $0.00 $115.82 $20,785.37
88 $20,785.37 $185.61 $0.00 $117.52 $21,088.50
89 $21,088.50 $185.61 $0.00 $119.24 $21,393.35
90 $21,393.35 $185.61 $0.00 $120.96 $21,699.92
91 $21,699.92 $185.61 $0.00 $122.69 $22,008.22
92 $22,008.22 $185.61 $0.00 $124.44 $22,318.27
93 $22,318.27 $185.61 $0.00 $126.19 $22,630.07
94 $22,630.07 $185.61 $0.00 $127.95 $22,943.63
95 $22,943.63 $185.61 $0.00 $129.73 $23,258.97
96 $23,258.97 $185.61 $0.00 $131.51 $23,576.09
97 $23,576.09 $185.61 $0.00 $133.30 $23,895.00
98 $23,895.00 $185.61 $0.00 $135.11 $24,215.72
99 $24,215.72 $185.61 $0.00 $136.92 $24,538.25
100 $24,538.25 $185.61 $0.00 $138.74 $24,862.60
101 $24,862.60 $185.61 $0.00 $140.58 $25,188.79
102 $25,188.79 $185.61 $0.00 $142.42 $25,516.82
103 $25,516.82 $185.61 $0.00 $144.28 $25,846.71
104 $25,846.71 $185.61 $0.00 $146.14 $26,178.46
105 $26,178.46 $185.61 $0.00 $148.02 $26,512.09
106 $26,512.09 $185.61 $0.00 $149.90 $26,847.60
107 $26,847.60 $185.61 $0.00 $151.80 $27,185.01
108 $27,185.01 $185.61 $0.00 $153.71 $27,524.33
109 $27,524.33 $185.61 $0.00 $155.63 $27,865.57
110 $27,865.57 $185.61 $0.00 $157.56 $28,208.74
111 $28,208.74 $185.61 $0.00 $159.50 $28,553.85
112 $28,553.85 $185.61 $0.00 $161.45 $28,900.91
113 $28,900.91 $185.61 $0.00 $163.41 $29,249.93
114 $29,249.93 $185.61 $0.00 $165.38 $29,600.92
115 $29,600.92 $185.61 $0.00 $167.37 $29,953.90
116 $29,953.90 $185.61 $0.00 $169.36 $30,308.87
117 $30,308.87 $185.61 $0.00 $171.37 $30,665.85
118 $30,665.85 $185.61 $0.00 $173.39 $31,024.85
119 $31,024.85 $185.61 $0.00 $175.42 $31,385.88
120 $31,385.88 $185.61 $0.00 $177.46 $31,748.95
121 $31,748.95 $185.61 $0.00 $179.51 $32,114.07
122 $32,114.07 $185.61 $0.00 $181.58 $32,481.26
123 $32,481.26 $185.61 $0.00 $183.65 $32,850.52
124 $32,850.52 $185.61 $0.00 $185.74 $33,221.87
125 $33,221.87 $185.61 $0.00 $187.84 $33,595.32
126 $33,595.32 $185.61 $0.00 $189.95 $33,970.88
127 $33,970.88 $185.61 $0.00 $192.08 $34,348.57
128 $34,348.57 $185.61 $0.00 $194.21 $34,728.39
129 $34,728.39 $185.61 $0.00 $196.36 $35,110.36
130 $35,110.36 $185.61 $0.00 $198.52 $35,494.49
131 $35,494.49 $185.61 $0.00 $200.69 $35,880.79
132 $35,880.79 $185.61 $0.00 $202.88 $36,269.28
133 $36,269.28 $185.61 $0.00 $205.07 $36,659.96
134 $36,659.96 $185.61 $0.00 $207.28 $37,052.85
135 $37,052.85 $185.61 $0.00 $209.50 $37,447.96
136 $37,447.96 $185.61 $0.00 $211.74 $37,845.31
137 $37,845.31 $185.61 $0.00 $213.98 $38,244.90
138 $38,244.90 $185.61 $0.00 $216.24 $38,646.75
139 $38,646.75 $185.61 $0.00 $218.51 $39,050.87
140 $39,050.87 $185.61 $0.00 $220.80 $39,457.28
141 $39,457.28 $185.61 $0.00 $223.10 $39,865.99
142 $39,865.99 $185.61 $0.00 $225.41 $40,277.01
143 $40,277.01 $185.61 $0.00 $227.73 $40,690.35
144 $40,690.35 $185.61 $0.00 $230.07 $41,106.03
145 $41,106.03 $185.61 $0.00 $232.42 $41,524.06
146 $41,524.06 $185.61 $0.00 $234.78 $41,944.45
147 $41,944.45 $185.61 $0.00 $237.16 $42,367.22
148 $42,367.22 $185.61 $0.00 $239.55 $42,792.38
149 $42,792.38 $185.61 $0.00 $241.95 $43,219.94
150 $43,219.94 $185.61 $0.00 $244.37 $43,649.92
151 $43,649.92 $185.61 $0.00 $246.80 $44,082.33
152 $44,082.33 $185.61 $0.00 $249.25 $44,517.19
153 $44,517.19 $185.61 $0.00 $251.71 $44,954.51
154 $44,954.51 $185.61 $0.00 $254.18 $45,394.30
155 $45,394.30 $185.61 $0.00 $256.67 $45,836.58
156 $45,836.58 $185.61 $0.00 $259.17 $46,281.36
157 $46,281.36 $185.61 $0.00 $261.68 $46,728.65
158 $46,728.65 $185.61 $0.00 $264.21 $47,178.47
159 $47,178.47 $185.61 $0.00 $266.75 $47,630.83
160 $47,630.83 $185.61 $0.00 $269.31 $48,085.75
161 $48,085.75 $185.61 $0.00 $271.88 $48,543.24
162 $48,543.24 $185.61 $0.00 $274.47 $49,003.32
163 $49,003.32 $185.61 $0.00 $277.07 $49,466.00
164 $49,466.00 $185.61 $0.00 $279.69 $49,931.30
165 $49,931.30 $185.61 $0.00 $282.32 $50,399.23
166 $50,399.23 $185.61 $0.00 $284.96 $50,869.80
167 $50,869.80 $185.61 $0.00 $287.63 $51,343.04
168 $51,343.04 $185.61 $0.00 $290.30 $51,818.95
169 $51,818.95 $185.61 $0.00 $292.99 $52,297.55
170 $52,297.55 $185.61 $0.00 $295.70 $52,778.86
171 $52,778.86 $185.61 $0.00 $298.42 $53,262.89
172 $53,262.89 $185.61 $0.00 $301.16 $53,749.66
173 $53,749.66 $185.61 $0.00 $303.91 $54,239.18
174 $54,239.18 $185.61 $0.00 $306.68 $54,731.47
175 $54,731.47 $185.61 $0.00 $309.46 $55,226.54
176 $55,226.54 $185.61 $0.00 $312.26 $55,724.41
177 $55,724.41 $185.61 $0.00 $315.07 $56,225.09
178 $56,225.09 $185.61 $0.00 $317.90 $56,728.60
179 $56,728.60 $185.61 $0.00 $320.75 $57,234.96
180 $57,234.96 $185.61 $0.00 $323.61 $57,744.18
181 $57,744.18 $185.61 $0.00 $326.49 $58,256.28
182 $58,256.28 $185.61 $0.00 $329.39 $58,771.28
183 $58,771.28 $185.61 $0.00 $332.30 $59,289.19
184 $59,289.19 $185.61 $0.00 $335.23 $59,810.03
185 $59,810.03 $185.61 $0.00 $338.17 $60,333.81
186 $60,333.81 $185.61 $0.00 $341.14 $60,860.56
187 $60,860.56 $185.61 $0.00 $344.11 $61,390.28
188 $61,390.28 $185.61 $0.00 $347.11 $61,923.00
189 $61,923.00 $185.61 $0.00 $350.12 $62,458.73
190 $62,458.73 $185.61 $0.00 $353.15 $62,997.49
191 $62,997.49 $185.61 $0.00 $356.20 $63,539.30
192 $63,539.30 $185.61 $0.00 $359.26 $64,084.17
193 $64,084.17 $185.61 $0.00 $362.34 $64,632.12
194 $64,632.12 $185.61 $0.00 $365.44 $65,183.17
195 $65,183.17 $185.61 $0.00 $368.56 $65,737.34
196 $65,737.34 $185.61 $0.00 $371.69 $66,294.64
197 $66,294.64 $185.61 $0.00 $374.84 $66,855.09
198 $66,855.09 $185.61 $0.00 $378.01 $67,418.71
199 $67,418.71 $185.61 $0.00 $381.20 $67,985.52
200 $67,985.52 $185.61 $0.00 $384.40 $68,555.53
201 $68,555.53 $185.61 $0.00 $387.62 $69,128.76
202 $69,128.76 $185.61 $0.00 $390.86 $69,705.23
203 $69,705.23 $185.61 $0.00 $394.12 $70,284.96
204 $70,284.96 $185.61 $0.00 $397.40 $70,867.97
205 $70,867.97 $185.61 $0.00 $400.70 $71,454.28
206 $71,454.28 $185.61 $0.00 $404.01 $72,043.90
207 $72,043.90 $185.61 $0.00 $407.35 $72,636.86
208 $72,636.86 $185.61 $0.00 $410.70 $73,233.17
209 $73,233.17 $185.61 $0.00 $414.07 $73,832.85
210 $73,832.85 $185.61 $0.00 $417.46 $74,435.92
211 $74,435.92 $185.61 $0.00 $420.87 $75,042.40
212 $75,042.40 $185.61 $0.00 $424.30 $75,652.31
213 $75,652.31 $185.61 $0.00 $427.75 $76,265.67
214 $76,265.67 $185.61 $0.00 $431.22 $76,882.50
215 $76,882.50 $185.61 $0.00 $434.70 $77,502.81
216 $77,502.81 $185.61 $0.00 $438.21 $78,126.63
217 $78,126.63 $185.61 $40,744.06 $441.74 $38,009.92
218 $38,009.92 $185.61 $0.00 $214.91 $38,410.44
219 $38,410.44 $185.61 $0.00 $217.18 $38,813.23
220 $38,813.23 $185.61 $0.00 $219.46 $39,218.30
221 $39,218.30 $185.61 $0.00 $221.75 $39,625.66
222 $39,625.66 $185.61 $0.00 $224.05 $40,035.32
223 $40,035.32 $185.61 $0.00 $226.37 $40,447.30
224 $40,447.30 $185.61 $0.00 $228.69 $40,861.60
225 $40,861.60 $185.61 $0.00 $231.04 $41,278.25
226 $41,278.25 $185.61 $0.00 $233.39 $41,697.25
227 $41,697.25 $185.61 $0.00 $235.76 $42,118.62
228 $42,118.62 $185.61 $0.00 $238.14 $42,542.37
229 $42,542.37 $0.00 $42,781.27 $240.54 $1.64