Savings Plan and Future Cost Estimation for Normandale Community College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$82,569
Monthly savings required$367

How much will it cost to send your child to Normandale Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $165,137.44 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $366.84 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$23,603.00
Years until enrollment18
Annual Tuition Increase7%
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 $366.84 $0.00 $0.00 $366.84
2 $366.84 $366.84 $0.00 $2.07 $735.75
3 $735.75 $366.84 $0.00 $4.16 $1,106.75
4 $1,106.75 $366.84 $0.00 $6.26 $1,479.85
5 $1,479.85 $366.84 $0.00 $8.37 $1,855.06
6 $1,855.06 $366.84 $0.00 $10.49 $2,232.39
7 $2,232.39 $366.84 $0.00 $12.62 $2,611.85
8 $2,611.85 $366.84 $0.00 $14.77 $2,993.46
9 $2,993.46 $366.84 $0.00 $16.93 $3,377.23
10 $3,377.23 $366.84 $0.00 $19.10 $3,763.17
11 $3,763.17 $366.84 $0.00 $21.28 $4,151.29
12 $4,151.29 $366.84 $0.00 $23.47 $4,541.60
13 $4,541.60 $366.84 $0.00 $25.68 $4,934.12
14 $4,934.12 $366.84 $0.00 $27.90 $5,328.86
15 $5,328.86 $366.84 $0.00 $30.13 $5,725.83
16 $5,725.83 $366.84 $0.00 $32.37 $6,125.04
17 $6,125.04 $366.84 $0.00 $34.63 $6,526.51
18 $6,526.51 $366.84 $0.00 $36.90 $6,930.25
19 $6,930.25 $366.84 $0.00 $39.18 $7,336.27
20 $7,336.27 $366.84 $0.00 $41.48 $7,744.59
21 $7,744.59 $366.84 $0.00 $43.79 $8,155.22
22 $8,155.22 $366.84 $0.00 $46.11 $8,568.17
23 $8,568.17 $366.84 $0.00 $48.45 $8,983.46
24 $8,983.46 $366.84 $0.00 $50.79 $9,401.09
25 $9,401.09 $366.84 $0.00 $53.16 $9,821.09
26 $9,821.09 $366.84 $0.00 $55.53 $10,243.46
27 $10,243.46 $366.84 $0.00 $57.92 $10,668.22
28 $10,668.22 $366.84 $0.00 $60.32 $11,095.38
29 $11,095.38 $366.84 $0.00 $62.73 $11,524.95
30 $11,524.95 $366.84 $0.00 $65.16 $11,956.95
31 $11,956.95 $366.84 $0.00 $67.61 $12,391.40
32 $12,391.40 $366.84 $0.00 $70.06 $12,828.30
33 $12,828.30 $366.84 $0.00 $72.53 $13,267.67
34 $13,267.67 $366.84 $0.00 $75.02 $13,709.53
35 $13,709.53 $366.84 $0.00 $77.52 $14,153.89
36 $14,153.89 $366.84 $0.00 $80.03 $14,600.76
37 $14,600.76 $366.84 $0.00 $82.55 $15,050.15
38 $15,050.15 $366.84 $0.00 $85.10 $15,502.09
39 $15,502.09 $366.84 $0.00 $87.65 $15,956.58
40 $15,956.58 $366.84 $0.00 $90.22 $16,413.64
41 $16,413.64 $366.84 $0.00 $92.81 $16,873.29
42 $16,873.29 $366.84 $0.00 $95.40 $17,335.53
43 $17,335.53 $366.84 $0.00 $98.02 $17,800.39
44 $17,800.39 $366.84 $0.00 $100.65 $18,267.88
45 $18,267.88 $366.84 $0.00 $103.29 $18,738.01
46 $18,738.01 $366.84 $0.00 $105.95 $19,210.80
47 $19,210.80 $366.84 $0.00 $108.62 $19,686.26
48 $19,686.26 $366.84 $0.00 $111.31 $20,164.41
49 $20,164.41 $366.84 $0.00 $114.01 $20,645.26
50 $20,645.26 $366.84 $0.00 $116.73 $21,128.83
51 $21,128.83 $366.84 $0.00 $119.47 $21,615.14
52 $21,615.14 $366.84 $0.00 $122.22 $22,104.20
53 $22,104.20 $366.84 $0.00 $124.98 $22,596.02
54 $22,596.02 $366.84 $0.00 $127.76 $23,090.62
55 $23,090.62 $366.84 $0.00 $130.56 $23,588.02
56 $23,588.02 $366.84 $0.00 $133.37 $24,088.23
57 $24,088.23 $366.84 $0.00 $136.20 $24,591.27
58 $24,591.27 $366.84 $0.00 $139.04 $25,097.15
59 $25,097.15 $366.84 $0.00 $141.90 $25,605.89
60 $25,605.89 $366.84 $0.00 $144.78 $26,117.51
61 $26,117.51 $366.84 $0.00 $147.67 $26,632.02
62 $26,632.02 $366.84 $0.00 $150.58 $27,149.44
63 $27,149.44 $366.84 $0.00 $153.51 $27,669.79
64 $27,669.79 $366.84 $0.00 $156.45 $28,193.08
65 $28,193.08 $366.84 $0.00 $159.41 $28,719.33
66 $28,719.33 $366.84 $0.00 $162.38 $29,248.55
67 $29,248.55 $366.84 $0.00 $165.38 $29,780.77
68 $29,780.77 $366.84 $0.00 $168.38 $30,315.99
69 $30,315.99 $366.84 $0.00 $171.41 $30,854.24
70 $30,854.24 $366.84 $0.00 $174.45 $31,395.53
71 $31,395.53 $366.84 $0.00 $177.51 $31,939.88
72 $31,939.88 $366.84 $0.00 $180.59 $32,487.31
73 $32,487.31 $366.84 $0.00 $183.69 $33,037.84
74 $33,037.84 $366.84 $0.00 $186.80 $33,591.48
75 $33,591.48 $366.84 $0.00 $189.93 $34,148.25
76 $34,148.25 $366.84 $0.00 $193.08 $34,708.17
77 $34,708.17 $366.84 $0.00 $196.25 $35,271.26
78 $35,271.26 $366.84 $0.00 $199.43 $35,837.53
79 $35,837.53 $366.84 $0.00 $202.63 $36,407.00
80 $36,407.00 $366.84 $0.00 $205.85 $36,979.69
81 $36,979.69 $366.84 $0.00 $209.09 $37,555.62
82 $37,555.62 $366.84 $0.00 $212.34 $38,134.80
83 $38,134.80 $366.84 $0.00 $215.62 $38,717.26
84 $38,717.26 $366.84 $0.00 $218.91 $39,303.01
85 $39,303.01 $366.84 $0.00 $222.22 $39,892.07
86 $39,892.07 $366.84 $0.00 $225.56 $40,484.47
87 $40,484.47 $366.84 $0.00 $228.91 $41,080.22
88 $41,080.22 $366.84 $0.00 $232.27 $41,679.33
89 $41,679.33 $366.84 $0.00 $235.66 $42,281.83
90 $42,281.83 $366.84 $0.00 $239.07 $42,887.74
91 $42,887.74 $366.84 $0.00 $242.49 $43,497.07
92 $43,497.07 $366.84 $0.00 $245.94 $44,109.85
93 $44,109.85 $366.84 $0.00 $249.40 $44,726.09
94 $44,726.09 $366.84 $0.00 $252.89 $45,345.82
95 $45,345.82 $366.84 $0.00 $256.39 $45,969.05
96 $45,969.05 $366.84 $0.00 $259.92 $46,595.81
97 $46,595.81 $366.84 $0.00 $263.46 $47,226.11
98 $47,226.11 $366.84 $0.00 $267.02 $47,859.97
99 $47,859.97 $366.84 $0.00 $270.61 $48,497.42
100 $48,497.42 $366.84 $0.00 $274.21 $49,138.47
101 $49,138.47 $366.84 $0.00 $277.84 $49,783.15
102 $49,783.15 $366.84 $0.00 $281.48 $50,431.47
103 $50,431.47 $366.84 $0.00 $285.15 $51,083.46
104 $51,083.46 $366.84 $0.00 $288.83 $51,739.13
105 $51,739.13 $366.84 $0.00 $292.54 $52,398.51
106 $52,398.51 $366.84 $0.00 $296.27 $53,061.62
107 $53,061.62 $366.84 $0.00 $300.02 $53,728.48
108 $53,728.48 $366.84 $0.00 $303.79 $54,399.11
109 $54,399.11 $366.84 $0.00 $307.58 $55,073.53
110 $55,073.53 $366.84 $0.00 $311.39 $55,751.76
111 $55,751.76 $366.84 $0.00 $315.23 $56,433.83
112 $56,433.83 $366.84 $0.00 $319.09 $57,119.76
113 $57,119.76 $366.84 $0.00 $322.96 $57,809.56
114 $57,809.56 $366.84 $0.00 $326.86 $58,503.26
115 $58,503.26 $366.84 $0.00 $330.79 $59,200.89
116 $59,200.89 $366.84 $0.00 $334.73 $59,902.46
117 $59,902.46 $366.84 $0.00 $338.70 $60,608.00
118 $60,608.00 $366.84 $0.00 $342.69 $61,317.53
119 $61,317.53 $366.84 $0.00 $346.70 $62,031.07
120 $62,031.07 $366.84 $0.00 $350.73 $62,748.64
121 $62,748.64 $366.84 $0.00 $354.79 $63,470.27
122 $63,470.27 $366.84 $0.00 $358.87 $64,195.98
123 $64,195.98 $366.84 $0.00 $362.97 $64,925.79
124 $64,925.79 $366.84 $0.00 $367.10 $65,659.73
125 $65,659.73 $366.84 $0.00 $371.25 $66,397.82
126 $66,397.82 $366.84 $0.00 $375.42 $67,140.08
127 $67,140.08 $366.84 $0.00 $379.62 $67,886.54
128 $67,886.54 $366.84 $0.00 $383.84 $68,637.22
129 $68,637.22 $366.84 $0.00 $388.08 $69,392.14
130 $69,392.14 $366.84 $0.00 $392.35 $70,151.33
131 $70,151.33 $366.84 $0.00 $396.65 $70,914.82
132 $70,914.82 $366.84 $0.00 $400.96 $71,682.62
133 $71,682.62 $366.84 $0.00 $405.30 $72,454.76
134 $72,454.76 $366.84 $0.00 $409.67 $73,231.27
135 $73,231.27 $366.84 $0.00 $414.06 $74,012.17
136 $74,012.17 $366.84 $0.00 $418.48 $74,797.49
137 $74,797.49 $366.84 $0.00 $422.92 $75,587.25
138 $75,587.25 $366.84 $0.00 $427.38 $76,381.47
139 $76,381.47 $366.84 $0.00 $431.87 $77,180.18
140 $77,180.18 $366.84 $0.00 $436.39 $77,983.41
141 $77,983.41 $366.84 $0.00 $440.93 $78,791.18
142 $78,791.18 $366.84 $0.00 $445.50 $79,603.52
143 $79,603.52 $366.84 $0.00 $450.09 $80,420.45
144 $80,420.45 $366.84 $0.00 $454.71 $81,242.00
145 $81,242.00 $366.84 $0.00 $459.35 $82,068.19
146 $82,068.19 $366.84 $0.00 $464.03 $82,899.06
147 $82,899.06 $366.84 $0.00 $468.72 $83,734.62
148 $83,734.62 $366.84 $0.00 $473.45 $84,574.91
149 $84,574.91 $366.84 $0.00 $478.20 $85,419.95
150 $85,419.95 $366.84 $0.00 $482.98 $86,269.77
151 $86,269.77 $366.84 $0.00 $487.78 $87,124.39
152 $87,124.39 $366.84 $0.00 $492.61 $87,983.84
153 $87,983.84 $366.84 $0.00 $497.47 $88,848.15
154 $88,848.15 $366.84 $0.00 $502.36 $89,717.35
155 $89,717.35 $366.84 $0.00 $507.27 $90,591.46
156 $90,591.46 $366.84 $0.00 $512.22 $91,470.52
157 $91,470.52 $366.84 $0.00 $517.19 $92,354.55
158 $92,354.55 $366.84 $0.00 $522.19 $93,243.58
159 $93,243.58 $366.84 $0.00 $527.21 $94,137.63
160 $94,137.63 $366.84 $0.00 $532.27 $95,036.74
161 $95,036.74 $366.84 $0.00 $537.35 $95,940.93
162 $95,940.93 $366.84 $0.00 $542.46 $96,850.23
163 $96,850.23 $366.84 $0.00 $547.61 $97,764.68
164 $97,764.68 $366.84 $0.00 $552.78 $98,684.30
165 $98,684.30 $366.84 $0.00 $557.98 $99,609.12
166 $99,609.12 $366.84 $0.00 $563.20 $100,539.16
167 $100,539.16 $366.84 $0.00 $568.46 $101,474.46
168 $101,474.46 $366.84 $0.00 $573.75 $102,415.05
169 $102,415.05 $366.84 $0.00 $579.07 $103,360.96
170 $103,360.96 $366.84 $0.00 $584.42 $104,312.22
171 $104,312.22 $366.84 $0.00 $589.80 $105,268.86
172 $105,268.86 $366.84 $0.00 $595.21 $106,230.91
173 $106,230.91 $366.84 $0.00 $600.65 $107,198.40
174 $107,198.40 $366.84 $0.00 $606.12 $108,171.36
175 $108,171.36 $366.84 $0.00 $611.62 $109,149.82
176 $109,149.82 $366.84 $0.00 $617.15 $110,133.81
177 $110,133.81 $366.84 $0.00 $622.71 $111,123.36
178 $111,123.36 $366.84 $0.00 $628.31 $112,118.51
179 $112,118.51 $366.84 $0.00 $633.93 $113,119.28
180 $113,119.28 $366.84 $0.00 $639.59 $114,125.71
181 $114,125.71 $366.84 $0.00 $645.28 $115,137.83
182 $115,137.83 $366.84 $0.00 $651.01 $116,155.68
183 $116,155.68 $366.84 $0.00 $656.76 $117,179.28
184 $117,179.28 $366.84 $0.00 $662.55 $118,208.67
185 $118,208.67 $366.84 $0.00 $668.37 $119,243.88
186 $119,243.88 $366.84 $0.00 $674.22 $120,284.94
187 $120,284.94 $366.84 $0.00 $680.11 $121,331.89
188 $121,331.89 $366.84 $0.00 $686.03 $122,384.76
189 $122,384.76 $366.84 $0.00 $691.98 $123,443.58
190 $123,443.58 $366.84 $0.00 $697.97 $124,508.39
191 $124,508.39 $366.84 $0.00 $703.99 $125,579.22
192 $125,579.22 $366.84 $0.00 $710.04 $126,656.10
193 $126,656.10 $366.84 $0.00 $716.13 $127,739.07
194 $127,739.07 $366.84 $0.00 $722.26 $128,828.17
195 $128,828.17 $366.84 $0.00 $728.41 $129,923.42
196 $129,923.42 $366.84 $0.00 $734.61 $131,024.87
197 $131,024.87 $366.84 $0.00 $740.83 $132,132.54
198 $132,132.54 $366.84 $0.00 $747.10 $133,246.48
199 $133,246.48 $366.84 $0.00 $753.39 $134,366.71
200 $134,366.71 $366.84 $0.00 $759.73 $135,493.28
201 $135,493.28 $366.84 $0.00 $766.10 $136,626.22
202 $136,626.22 $366.84 $0.00 $772.50 $137,765.56
203 $137,765.56 $366.84 $0.00 $778.95 $138,911.35
204 $138,911.35 $366.84 $0.00 $785.42 $140,063.61
205 $140,063.61 $366.84 $0.00 $791.94 $141,222.39
206 $141,222.39 $366.84 $0.00 $798.49 $142,387.72
207 $142,387.72 $366.84 $0.00 $805.08 $143,559.64
208 $143,559.64 $366.84 $0.00 $811.71 $144,738.19
209 $144,738.19 $366.84 $0.00 $818.37 $145,923.40
210 $145,923.40 $366.84 $0.00 $825.07 $147,115.31
211 $147,115.31 $366.84 $0.00 $831.81 $148,313.96
212 $148,313.96 $366.84 $0.00 $838.59 $149,519.39
213 $149,519.39 $366.84 $0.00 $845.40 $150,731.63
214 $150,731.63 $366.84 $0.00 $852.26 $151,950.73
215 $151,950.73 $366.84 $0.00 $859.15 $153,176.72
216 $153,176.72 $366.84 $0.00 $866.08 $154,409.64
217 $154,409.64 $366.84 $79,776.54 $873.05 $75,872.99
218 $75,872.99 $366.84 $0.00 $429.00 $76,668.83
219 $76,668.83 $366.84 $0.00 $433.50 $77,469.17
220 $77,469.17 $366.84 $0.00 $438.02 $78,274.03
221 $78,274.03 $366.84 $0.00 $442.57 $79,083.44
222 $79,083.44 $366.84 $0.00 $447.15 $79,897.43
223 $79,897.43 $366.84 $0.00 $451.75 $80,716.02
224 $80,716.02 $366.84 $0.00 $456.38 $81,539.24
225 $81,539.24 $366.84 $0.00 $461.03 $82,367.11
226 $82,367.11 $366.84 $0.00 $465.72 $83,199.67
227 $83,199.67 $366.84 $0.00 $470.42 $84,036.93
228 $84,036.93 $366.84 $0.00 $475.16 $84,878.93
229 $84,878.93 $0.00 $85,360.90 $479.92 -$2.05