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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$45,512
Monthly savings required$202

How much will it cost to send your child to Mid Michigan Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $91,024.36 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $202.27 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$18,450.00
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 $202.27 $0.00 $0.00 $202.27
2 $202.27 $202.27 $0.00 $1.14 $405.68
3 $405.68 $202.27 $0.00 $2.29 $610.24
4 $610.24 $202.27 $0.00 $3.45 $815.96
5 $815.96 $202.27 $0.00 $4.61 $1,022.84
6 $1,022.84 $202.27 $0.00 $5.78 $1,230.89
7 $1,230.89 $202.27 $0.00 $6.96 $1,440.12
8 $1,440.12 $202.27 $0.00 $8.14 $1,650.53
9 $1,650.53 $202.27 $0.00 $9.33 $1,862.13
10 $1,862.13 $202.27 $0.00 $10.53 $2,074.93
11 $2,074.93 $202.27 $0.00 $11.73 $2,288.93
12 $2,288.93 $202.27 $0.00 $12.94 $2,504.14
13 $2,504.14 $202.27 $0.00 $14.16 $2,720.57
14 $2,720.57 $202.27 $0.00 $15.38 $2,938.22
15 $2,938.22 $202.27 $0.00 $16.61 $3,157.10
16 $3,157.10 $202.27 $0.00 $17.85 $3,377.22
17 $3,377.22 $202.27 $0.00 $19.10 $3,598.59
18 $3,598.59 $202.27 $0.00 $20.35 $3,821.21
19 $3,821.21 $202.27 $0.00 $21.61 $4,045.09
20 $4,045.09 $202.27 $0.00 $22.87 $4,270.23
21 $4,270.23 $202.27 $0.00 $24.14 $4,496.64
22 $4,496.64 $202.27 $0.00 $25.42 $4,724.33
23 $4,724.33 $202.27 $0.00 $26.71 $4,953.31
24 $4,953.31 $202.27 $0.00 $28.01 $5,183.59
25 $5,183.59 $202.27 $0.00 $29.31 $5,415.17
26 $5,415.17 $202.27 $0.00 $30.62 $5,648.06
27 $5,648.06 $202.27 $0.00 $31.93 $5,882.26
28 $5,882.26 $202.27 $0.00 $33.26 $6,117.79
29 $6,117.79 $202.27 $0.00 $34.59 $6,354.65
30 $6,354.65 $202.27 $0.00 $35.93 $6,592.85
31 $6,592.85 $202.27 $0.00 $37.28 $6,832.40
32 $6,832.40 $202.27 $0.00 $38.63 $7,073.30
33 $7,073.30 $202.27 $0.00 $39.99 $7,315.56
34 $7,315.56 $202.27 $0.00 $41.36 $7,559.19
35 $7,559.19 $202.27 $0.00 $42.74 $7,804.20
36 $7,804.20 $202.27 $0.00 $44.13 $8,050.60
37 $8,050.60 $202.27 $0.00 $45.52 $8,298.39
38 $8,298.39 $202.27 $0.00 $46.92 $8,547.58
39 $8,547.58 $202.27 $0.00 $48.33 $8,798.18
40 $8,798.18 $202.27 $0.00 $49.75 $9,050.20
41 $9,050.20 $202.27 $0.00 $51.17 $9,303.64
42 $9,303.64 $202.27 $0.00 $52.60 $9,558.51
43 $9,558.51 $202.27 $0.00 $54.05 $9,814.83
44 $9,814.83 $202.27 $0.00 $55.49 $10,072.59
45 $10,072.59 $202.27 $0.00 $56.95 $10,331.81
46 $10,331.81 $202.27 $0.00 $58.42 $10,592.50
47 $10,592.50 $202.27 $0.00 $59.89 $10,854.66
48 $10,854.66 $202.27 $0.00 $61.37 $11,118.30
49 $11,118.30 $202.27 $0.00 $62.86 $11,383.43
50 $11,383.43 $202.27 $0.00 $64.36 $11,650.06
51 $11,650.06 $202.27 $0.00 $65.87 $11,918.20
52 $11,918.20 $202.27 $0.00 $67.39 $12,187.86
53 $12,187.86 $202.27 $0.00 $68.91 $12,459.04
54 $12,459.04 $202.27 $0.00 $70.45 $12,731.76
55 $12,731.76 $202.27 $0.00 $71.99 $13,006.02
56 $13,006.02 $202.27 $0.00 $73.54 $13,281.83
57 $13,281.83 $202.27 $0.00 $75.10 $13,559.20
58 $13,559.20 $202.27 $0.00 $76.67 $13,838.14
59 $13,838.14 $202.27 $0.00 $78.24 $14,118.65
60 $14,118.65 $202.27 $0.00 $79.83 $14,400.75
61 $14,400.75 $202.27 $0.00 $81.42 $14,684.44
62 $14,684.44 $202.27 $0.00 $83.03 $14,969.74
63 $14,969.74 $202.27 $0.00 $84.64 $15,256.65
64 $15,256.65 $202.27 $0.00 $86.26 $15,545.18
65 $15,545.18 $202.27 $0.00 $87.89 $15,835.34
66 $15,835.34 $202.27 $0.00 $89.54 $16,127.15
67 $16,127.15 $202.27 $0.00 $91.19 $16,420.61
68 $16,420.61 $202.27 $0.00 $92.84 $16,715.72
69 $16,715.72 $202.27 $0.00 $94.51 $17,012.50
70 $17,012.50 $202.27 $0.00 $96.19 $17,310.96
71 $17,310.96 $202.27 $0.00 $97.88 $17,611.11
72 $17,611.11 $202.27 $0.00 $99.58 $17,912.96
73 $17,912.96 $202.27 $0.00 $101.28 $18,216.51
74 $18,216.51 $202.27 $0.00 $103.00 $18,521.78
75 $18,521.78 $202.27 $0.00 $104.72 $18,828.77
76 $18,828.77 $202.27 $0.00 $106.46 $19,137.50
77 $19,137.50 $202.27 $0.00 $108.21 $19,447.98
78 $19,447.98 $202.27 $0.00 $109.96 $19,760.21
79 $19,760.21 $202.27 $0.00 $111.73 $20,074.21
80 $20,074.21 $202.27 $0.00 $113.50 $20,389.98
81 $20,389.98 $202.27 $0.00 $115.29 $20,707.54
82 $20,707.54 $202.27 $0.00 $117.08 $21,026.89
83 $21,026.89 $202.27 $0.00 $118.89 $21,348.05
84 $21,348.05 $202.27 $0.00 $120.70 $21,671.02
85 $21,671.02 $202.27 $0.00 $122.53 $21,995.82
86 $21,995.82 $202.27 $0.00 $124.37 $22,322.46
87 $22,322.46 $202.27 $0.00 $126.21 $22,650.94
88 $22,650.94 $202.27 $0.00 $128.07 $22,981.28
89 $22,981.28 $202.27 $0.00 $129.94 $23,313.49
90 $23,313.49 $202.27 $0.00 $131.82 $23,647.58
91 $23,647.58 $202.27 $0.00 $133.71 $23,983.56
92 $23,983.56 $202.27 $0.00 $135.61 $24,321.44
93 $24,321.44 $202.27 $0.00 $137.52 $24,661.23
94 $24,661.23 $202.27 $0.00 $139.44 $25,002.94
95 $25,002.94 $202.27 $0.00 $141.37 $25,346.58
96 $25,346.58 $202.27 $0.00 $143.31 $25,692.16
97 $25,692.16 $202.27 $0.00 $145.27 $26,039.70
98 $26,039.70 $202.27 $0.00 $147.23 $26,389.20
99 $26,389.20 $202.27 $0.00 $149.21 $26,740.68
100 $26,740.68 $202.27 $0.00 $151.20 $27,094.15
101 $27,094.15 $202.27 $0.00 $153.19 $27,449.61
102 $27,449.61 $202.27 $0.00 $155.20 $27,807.08
103 $27,807.08 $202.27 $0.00 $157.23 $28,166.58
104 $28,166.58 $202.27 $0.00 $159.26 $28,528.11
105 $28,528.11 $202.27 $0.00 $161.30 $28,891.68
106 $28,891.68 $202.27 $0.00 $163.36 $29,257.31
107 $29,257.31 $202.27 $0.00 $165.43 $29,625.01
108 $29,625.01 $202.27 $0.00 $167.50 $29,994.78
109 $29,994.78 $202.27 $0.00 $169.59 $30,366.64
110 $30,366.64 $202.27 $0.00 $171.70 $30,740.61
111 $30,740.61 $202.27 $0.00 $173.81 $31,116.69
112 $31,116.69 $202.27 $0.00 $175.94 $31,494.90
113 $31,494.90 $202.27 $0.00 $178.08 $31,875.25
114 $31,875.25 $202.27 $0.00 $180.23 $32,257.75
115 $32,257.75 $202.27 $0.00 $182.39 $32,642.41
116 $32,642.41 $202.27 $0.00 $184.56 $33,029.24
117 $33,029.24 $202.27 $0.00 $186.75 $33,418.26
118 $33,418.26 $202.27 $0.00 $188.95 $33,809.48
119 $33,809.48 $202.27 $0.00 $191.16 $34,202.91
120 $34,202.91 $202.27 $0.00 $193.39 $34,598.57
121 $34,598.57 $202.27 $0.00 $195.63 $34,996.47
122 $34,996.47 $202.27 $0.00 $197.88 $35,396.62
123 $35,396.62 $202.27 $0.00 $200.14 $35,799.03
124 $35,799.03 $202.27 $0.00 $202.41 $36,203.71
125 $36,203.71 $202.27 $0.00 $204.70 $36,610.68
126 $36,610.68 $202.27 $0.00 $207.00 $37,019.95
127 $37,019.95 $202.27 $0.00 $209.32 $37,431.54
128 $37,431.54 $202.27 $0.00 $211.64 $37,845.45
129 $37,845.45 $202.27 $0.00 $213.98 $38,261.70
130 $38,261.70 $202.27 $0.00 $216.34 $38,680.31
131 $38,680.31 $202.27 $0.00 $218.70 $39,101.28
132 $39,101.28 $202.27 $0.00 $221.08 $39,524.63
133 $39,524.63 $202.27 $0.00 $223.48 $39,950.38
134 $39,950.38 $202.27 $0.00 $225.89 $40,378.54
135 $40,378.54 $202.27 $0.00 $228.31 $40,809.12
136 $40,809.12 $202.27 $0.00 $230.74 $41,242.13
137 $41,242.13 $202.27 $0.00 $233.19 $41,677.59
138 $41,677.59 $202.27 $0.00 $235.65 $42,115.51
139 $42,115.51 $202.27 $0.00 $238.13 $42,555.91
140 $42,555.91 $202.27 $0.00 $240.62 $42,998.80
141 $42,998.80 $202.27 $0.00 $243.12 $43,444.19
142 $43,444.19 $202.27 $0.00 $245.64 $43,892.10
143 $43,892.10 $202.27 $0.00 $248.17 $44,342.54
144 $44,342.54 $202.27 $0.00 $250.72 $44,795.53
145 $44,795.53 $202.27 $0.00 $253.28 $45,251.08
146 $45,251.08 $202.27 $0.00 $255.86 $45,709.21
147 $45,709.21 $202.27 $0.00 $258.45 $46,169.93
148 $46,169.93 $202.27 $0.00 $261.05 $46,633.25
149 $46,633.25 $202.27 $0.00 $263.67 $47,099.19
150 $47,099.19 $202.27 $0.00 $266.31 $47,567.77
151 $47,567.77 $202.27 $0.00 $268.96 $48,039.00
152 $48,039.00 $202.27 $0.00 $271.62 $48,512.89
153 $48,512.89 $202.27 $0.00 $274.30 $48,989.46
154 $48,989.46 $202.27 $0.00 $276.99 $49,468.72
155 $49,468.72 $202.27 $0.00 $279.70 $49,950.69
156 $49,950.69 $202.27 $0.00 $282.43 $50,435.39
157 $50,435.39 $202.27 $0.00 $285.17 $50,922.83
158 $50,922.83 $202.27 $0.00 $287.93 $51,413.03
159 $51,413.03 $202.27 $0.00 $290.70 $51,906.00
160 $51,906.00 $202.27 $0.00 $293.48 $52,401.75
161 $52,401.75 $202.27 $0.00 $296.29 $52,900.31
162 $52,900.31 $202.27 $0.00 $299.11 $53,401.69
163 $53,401.69 $202.27 $0.00 $301.94 $53,905.90
164 $53,905.90 $202.27 $0.00 $304.79 $54,412.96
165 $54,412.96 $202.27 $0.00 $307.66 $54,922.89
166 $54,922.89 $202.27 $0.00 $310.54 $55,435.70
167 $55,435.70 $202.27 $0.00 $313.44 $55,951.41
168 $55,951.41 $202.27 $0.00 $316.36 $56,470.04
169 $56,470.04 $202.27 $0.00 $319.29 $56,991.60
170 $56,991.60 $202.27 $0.00 $322.24 $57,516.11
171 $57,516.11 $202.27 $0.00 $325.20 $58,043.58
172 $58,043.58 $202.27 $0.00 $328.19 $58,574.04
173 $58,574.04 $202.27 $0.00 $331.19 $59,107.50
174 $59,107.50 $202.27 $0.00 $334.20 $59,643.97
175 $59,643.97 $202.27 $0.00 $337.24 $60,183.48
176 $60,183.48 $202.27 $0.00 $340.29 $60,726.04
177 $60,726.04 $202.27 $0.00 $343.35 $61,271.66
178 $61,271.66 $202.27 $0.00 $346.44 $61,820.37
179 $61,820.37 $202.27 $0.00 $349.54 $62,372.18
180 $62,372.18 $202.27 $0.00 $352.66 $62,927.11
181 $62,927.11 $202.27 $0.00 $355.80 $63,485.18
182 $63,485.18 $202.27 $0.00 $358.95 $64,046.40
183 $64,046.40 $202.27 $0.00 $362.13 $64,610.80
184 $64,610.80 $202.27 $0.00 $365.32 $65,178.39
185 $65,178.39 $202.27 $0.00 $368.53 $65,749.19
186 $65,749.19 $202.27 $0.00 $371.76 $66,323.22
187 $66,323.22 $202.27 $0.00 $375.00 $66,900.49
188 $66,900.49 $202.27 $0.00 $378.27 $67,481.03
189 $67,481.03 $202.27 $0.00 $381.55 $68,064.85
190 $68,064.85 $202.27 $0.00 $384.85 $68,651.97
191 $68,651.97 $202.27 $0.00 $388.17 $69,242.41
192 $69,242.41 $202.27 $0.00 $391.51 $69,836.19
193 $69,836.19 $202.27 $0.00 $394.86 $70,433.32
194 $70,433.32 $202.27 $0.00 $398.24 $71,033.83
195 $71,033.83 $202.27 $0.00 $401.64 $71,637.74
196 $71,637.74 $202.27 $0.00 $405.05 $72,245.06
197 $72,245.06 $202.27 $0.00 $408.48 $72,855.81
198 $72,855.81 $202.27 $0.00 $411.94 $73,470.02
199 $73,470.02 $202.27 $0.00 $415.41 $74,087.70
200 $74,087.70 $202.27 $0.00 $418.90 $74,708.87
201 $74,708.87 $202.27 $0.00 $422.41 $75,333.55
202 $75,333.55 $202.27 $0.00 $425.95 $75,961.77
203 $75,961.77 $202.27 $0.00 $429.50 $76,593.54
204 $76,593.54 $202.27 $0.00 $433.07 $77,228.88
205 $77,228.88 $202.27 $0.00 $436.66 $77,867.81
206 $77,867.81 $202.27 $0.00 $440.28 $78,510.36
207 $78,510.36 $202.27 $0.00 $443.91 $79,156.54
208 $79,156.54 $202.27 $0.00 $447.56 $79,806.37
209 $79,806.37 $202.27 $0.00 $451.24 $80,459.88
210 $80,459.88 $202.27 $0.00 $454.93 $81,117.08
211 $81,117.08 $202.27 $0.00 $458.65 $81,778.00
212 $81,778.00 $202.27 $0.00 $462.38 $82,442.65
213 $82,442.65 $202.27 $0.00 $466.14 $83,111.06
214 $83,111.06 $202.27 $0.00 $469.92 $83,783.25
215 $83,783.25 $202.27 $0.00 $473.72 $84,459.24
216 $84,459.24 $202.27 $0.00 $477.54 $85,139.05
217 $85,139.05 $202.27 $44,402.12 $481.39 $41,420.59
218 $41,420.59 $202.27 $0.00 $234.20 $41,857.06
219 $41,857.06 $202.27 $0.00 $236.67 $42,296.00
220 $42,296.00 $202.27 $0.00 $239.15 $42,737.42
221 $42,737.42 $202.27 $0.00 $241.64 $43,181.33
222 $43,181.33 $202.27 $0.00 $244.15 $43,627.75
223 $43,627.75 $202.27 $0.00 $246.68 $44,076.70
224 $44,076.70 $202.27 $0.00 $249.22 $44,528.19
225 $44,528.19 $202.27 $0.00 $251.77 $44,982.23
226 $44,982.23 $202.27 $0.00 $254.34 $45,438.84
227 $45,438.84 $202.27 $0.00 $256.92 $45,898.03
228 $45,898.03 $202.27 $0.00 $259.51 $46,359.81
229 $46,359.81 $0.00 $46,622.23 $262.13 ($0.29)