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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$45,626
Monthly savings required$203

How much will it cost to send your child to Northwest Technical College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $91,251.30 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $202.78 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$18,496.00
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 $202.78 $0.00 $0.00 $202.78
2 $202.78 $202.78 $0.00 $1.15 $406.71
3 $406.71 $202.78 $0.00 $2.30 $611.79
4 $611.79 $202.78 $0.00 $3.46 $818.03
5 $818.03 $202.78 $0.00 $4.63 $1,025.44
6 $1,025.44 $202.78 $0.00 $5.80 $1,234.02
7 $1,234.02 $202.78 $0.00 $6.98 $1,443.78
8 $1,443.78 $202.78 $0.00 $8.16 $1,654.72
9 $1,654.72 $202.78 $0.00 $9.36 $1,866.86
10 $1,866.86 $202.78 $0.00 $10.56 $2,080.20
11 $2,080.20 $202.78 $0.00 $11.76 $2,294.74
12 $2,294.74 $202.78 $0.00 $12.97 $2,510.49
13 $2,510.49 $202.78 $0.00 $14.19 $2,727.46
14 $2,727.46 $202.78 $0.00 $15.42 $2,945.66
15 $2,945.66 $202.78 $0.00 $16.66 $3,165.10
16 $3,165.10 $202.78 $0.00 $17.90 $3,385.78
17 $3,385.78 $202.78 $0.00 $19.14 $3,607.70
18 $3,607.70 $202.78 $0.00 $20.40 $3,830.88
19 $3,830.88 $202.78 $0.00 $21.66 $4,055.32
20 $4,055.32 $202.78 $0.00 $22.93 $4,281.03
21 $4,281.03 $202.78 $0.00 $24.21 $4,508.02
22 $4,508.02 $202.78 $0.00 $25.49 $4,736.29
23 $4,736.29 $202.78 $0.00 $26.78 $4,965.85
24 $4,965.85 $202.78 $0.00 $28.08 $5,196.71
25 $5,196.71 $202.78 $0.00 $29.38 $5,428.87
26 $5,428.87 $202.78 $0.00 $30.70 $5,662.35
27 $5,662.35 $202.78 $0.00 $32.02 $5,897.15
28 $5,897.15 $202.78 $0.00 $33.34 $6,133.27
29 $6,133.27 $202.78 $0.00 $34.68 $6,370.73
30 $6,370.73 $202.78 $0.00 $36.02 $6,609.53
31 $6,609.53 $202.78 $0.00 $37.37 $6,849.68
32 $6,849.68 $202.78 $0.00 $38.73 $7,091.19
33 $7,091.19 $202.78 $0.00 $40.09 $7,334.06
34 $7,334.06 $202.78 $0.00 $41.47 $7,578.31
35 $7,578.31 $202.78 $0.00 $42.85 $7,823.94
36 $7,823.94 $202.78 $0.00 $44.24 $8,070.96
37 $8,070.96 $202.78 $0.00 $45.63 $8,319.37
38 $8,319.37 $202.78 $0.00 $47.04 $8,569.19
39 $8,569.19 $202.78 $0.00 $48.45 $8,820.42
40 $8,820.42 $202.78 $0.00 $49.87 $9,073.07
41 $9,073.07 $202.78 $0.00 $51.30 $9,327.15
42 $9,327.15 $202.78 $0.00 $52.74 $9,582.67
43 $9,582.67 $202.78 $0.00 $54.18 $9,839.63
44 $9,839.63 $202.78 $0.00 $55.63 $10,098.04
45 $10,098.04 $202.78 $0.00 $57.10 $10,357.92
46 $10,357.92 $202.78 $0.00 $58.57 $10,619.27
47 $10,619.27 $202.78 $0.00 $60.04 $10,882.09
48 $10,882.09 $202.78 $0.00 $61.53 $11,146.40
49 $11,146.40 $202.78 $0.00 $63.02 $11,412.20
50 $11,412.20 $202.78 $0.00 $64.53 $11,679.51
51 $11,679.51 $202.78 $0.00 $66.04 $11,948.33
52 $11,948.33 $202.78 $0.00 $67.56 $12,218.67
53 $12,218.67 $202.78 $0.00 $69.09 $12,490.54
54 $12,490.54 $202.78 $0.00 $70.62 $12,763.94
55 $12,763.94 $202.78 $0.00 $72.17 $13,038.89
56 $13,038.89 $202.78 $0.00 $73.72 $13,315.39
57 $13,315.39 $202.78 $0.00 $75.29 $13,593.46
58 $13,593.46 $202.78 $0.00 $76.86 $13,873.10
59 $13,873.10 $202.78 $0.00 $78.44 $14,154.32
60 $14,154.32 $202.78 $0.00 $80.03 $14,437.13
61 $14,437.13 $202.78 $0.00 $81.63 $14,721.54
62 $14,721.54 $202.78 $0.00 $83.24 $15,007.56
63 $15,007.56 $202.78 $0.00 $84.85 $15,295.19
64 $15,295.19 $202.78 $0.00 $86.48 $15,584.45
65 $15,584.45 $202.78 $0.00 $88.12 $15,875.35
66 $15,875.35 $202.78 $0.00 $89.76 $16,167.89
67 $16,167.89 $202.78 $0.00 $91.42 $16,462.09
68 $16,462.09 $202.78 $0.00 $93.08 $16,757.95
69 $16,757.95 $202.78 $0.00 $94.75 $17,055.48
70 $17,055.48 $202.78 $0.00 $96.43 $17,354.69
71 $17,354.69 $202.78 $0.00 $98.13 $17,655.60
72 $17,655.60 $202.78 $0.00 $99.83 $17,958.21
73 $17,958.21 $202.78 $0.00 $101.54 $18,262.53
74 $18,262.53 $202.78 $0.00 $103.26 $18,568.57
75 $18,568.57 $202.78 $0.00 $104.99 $18,876.34
76 $18,876.34 $202.78 $0.00 $106.73 $19,185.85
77 $19,185.85 $202.78 $0.00 $108.48 $19,497.11
78 $19,497.11 $202.78 $0.00 $110.24 $19,810.13
79 $19,810.13 $202.78 $0.00 $112.01 $20,124.92
80 $20,124.92 $202.78 $0.00 $113.79 $20,441.49
81 $20,441.49 $202.78 $0.00 $115.58 $20,759.85
82 $20,759.85 $202.78 $0.00 $117.38 $21,080.01
83 $21,080.01 $202.78 $0.00 $119.19 $21,401.98
84 $21,401.98 $202.78 $0.00 $121.01 $21,725.77
85 $21,725.77 $202.78 $0.00 $122.84 $22,051.39
86 $22,051.39 $202.78 $0.00 $124.68 $22,378.85
87 $22,378.85 $202.78 $0.00 $126.53 $22,708.16
88 $22,708.16 $202.78 $0.00 $128.40 $23,039.34
89 $23,039.34 $202.78 $0.00 $130.27 $23,372.39
90 $23,372.39 $202.78 $0.00 $132.15 $23,707.32
91 $23,707.32 $202.78 $0.00 $134.04 $24,044.14
92 $24,044.14 $202.78 $0.00 $135.95 $24,382.87
93 $24,382.87 $202.78 $0.00 $137.86 $24,723.51
94 $24,723.51 $202.78 $0.00 $139.79 $25,066.08
95 $25,066.08 $202.78 $0.00 $141.73 $25,410.59
96 $25,410.59 $202.78 $0.00 $143.68 $25,757.05
97 $25,757.05 $202.78 $0.00 $145.63 $26,105.46
98 $26,105.46 $202.78 $0.00 $147.60 $26,455.84
99 $26,455.84 $202.78 $0.00 $149.59 $26,808.21
100 $26,808.21 $202.78 $0.00 $151.58 $27,162.57
101 $27,162.57 $202.78 $0.00 $153.58 $27,518.93
102 $27,518.93 $202.78 $0.00 $155.60 $27,877.31
103 $27,877.31 $202.78 $0.00 $157.62 $28,237.71
104 $28,237.71 $202.78 $0.00 $159.66 $28,600.15
105 $28,600.15 $202.78 $0.00 $161.71 $28,964.64
106 $28,964.64 $202.78 $0.00 $163.77 $29,331.19
107 $29,331.19 $202.78 $0.00 $165.84 $29,699.81
108 $29,699.81 $202.78 $0.00 $167.93 $30,070.52
109 $30,070.52 $202.78 $0.00 $170.02 $30,443.32
110 $30,443.32 $202.78 $0.00 $172.13 $30,818.23
111 $30,818.23 $202.78 $0.00 $174.25 $31,195.26
112 $31,195.26 $202.78 $0.00 $176.38 $31,574.42
113 $31,574.42 $202.78 $0.00 $178.53 $31,955.73
114 $31,955.73 $202.78 $0.00 $180.68 $32,339.19
115 $32,339.19 $202.78 $0.00 $182.85 $32,724.82
116 $32,724.82 $202.78 $0.00 $185.03 $33,112.63
117 $33,112.63 $202.78 $0.00 $187.22 $33,502.63
118 $33,502.63 $202.78 $0.00 $189.43 $33,894.84
119 $33,894.84 $202.78 $0.00 $191.65 $34,289.27
120 $34,289.27 $202.78 $0.00 $193.88 $34,685.93
121 $34,685.93 $202.78 $0.00 $196.12 $35,084.83
122 $35,084.83 $202.78 $0.00 $198.37 $35,485.98
123 $35,485.98 $202.78 $0.00 $200.64 $35,889.40
124 $35,889.40 $202.78 $0.00 $202.92 $36,295.10
125 $36,295.10 $202.78 $0.00 $205.22 $36,703.10
126 $36,703.10 $202.78 $0.00 $207.52 $37,113.40
127 $37,113.40 $202.78 $0.00 $209.84 $37,526.02
128 $37,526.02 $202.78 $0.00 $212.18 $37,940.98
129 $37,940.98 $202.78 $0.00 $214.52 $38,358.28
130 $38,358.28 $202.78 $0.00 $216.88 $38,777.94
131 $38,777.94 $202.78 $0.00 $219.26 $39,199.98
132 $39,199.98 $202.78 $0.00 $221.64 $39,624.40
133 $39,624.40 $202.78 $0.00 $224.04 $40,051.22
134 $40,051.22 $202.78 $0.00 $226.46 $40,480.46
135 $40,480.46 $202.78 $0.00 $228.88 $40,912.12
136 $40,912.12 $202.78 $0.00 $231.32 $41,346.22
137 $41,346.22 $202.78 $0.00 $233.78 $41,782.78
138 $41,782.78 $202.78 $0.00 $236.25 $42,221.81
139 $42,221.81 $202.78 $0.00 $238.73 $42,663.32
140 $42,663.32 $202.78 $0.00 $241.22 $43,107.32
141 $43,107.32 $202.78 $0.00 $243.74 $43,553.84
142 $43,553.84 $202.78 $0.00 $246.26 $44,002.88
143 $44,002.88 $202.78 $0.00 $248.80 $44,454.46
144 $44,454.46 $202.78 $0.00 $251.35 $44,908.59
145 $44,908.59 $202.78 $0.00 $253.92 $45,365.29
146 $45,365.29 $202.78 $0.00 $256.50 $45,824.57
147 $45,824.57 $202.78 $0.00 $259.10 $46,286.45
148 $46,286.45 $202.78 $0.00 $261.71 $46,750.94
149 $46,750.94 $202.78 $0.00 $264.34 $47,218.06
150 $47,218.06 $202.78 $0.00 $266.98 $47,687.82
151 $47,687.82 $202.78 $0.00 $269.63 $48,160.23
152 $48,160.23 $202.78 $0.00 $272.30 $48,635.31
153 $48,635.31 $202.78 $0.00 $274.99 $49,113.08
154 $49,113.08 $202.78 $0.00 $277.69 $49,593.55
155 $49,593.55 $202.78 $0.00 $280.41 $50,076.74
156 $50,076.74 $202.78 $0.00 $283.14 $50,562.66
157 $50,562.66 $202.78 $0.00 $285.89 $51,051.33
158 $51,051.33 $202.78 $0.00 $288.65 $51,542.76
159 $51,542.76 $202.78 $0.00 $291.43 $52,036.97
160 $52,036.97 $202.78 $0.00 $294.22 $52,533.97
161 $52,533.97 $202.78 $0.00 $297.03 $53,033.78
162 $53,033.78 $202.78 $0.00 $299.86 $53,536.42
163 $53,536.42 $202.78 $0.00 $302.70 $54,041.90
164 $54,041.90 $202.78 $0.00 $305.56 $54,550.24
165 $54,550.24 $202.78 $0.00 $308.43 $55,061.45
166 $55,061.45 $202.78 $0.00 $311.33 $55,575.56
167 $55,575.56 $202.78 $0.00 $314.23 $56,092.57
168 $56,092.57 $202.78 $0.00 $317.16 $56,612.51
169 $56,612.51 $202.78 $0.00 $320.10 $57,135.39
170 $57,135.39 $202.78 $0.00 $323.05 $57,661.22
171 $57,661.22 $202.78 $0.00 $326.02 $58,190.02
172 $58,190.02 $202.78 $0.00 $329.01 $58,721.81
173 $58,721.81 $202.78 $0.00 $332.02 $59,256.61
174 $59,256.61 $202.78 $0.00 $335.05 $59,794.44
175 $59,794.44 $202.78 $0.00 $338.09 $60,335.31
176 $60,335.31 $202.78 $0.00 $341.14 $60,879.23
177 $60,879.23 $202.78 $0.00 $344.22 $61,426.23
178 $61,426.23 $202.78 $0.00 $347.31 $61,976.32
179 $61,976.32 $202.78 $0.00 $350.42 $62,529.52
180 $62,529.52 $202.78 $0.00 $353.55 $63,085.85
181 $63,085.85 $202.78 $0.00 $356.70 $63,645.33
182 $63,645.33 $202.78 $0.00 $359.86 $64,207.97
183 $64,207.97 $202.78 $0.00 $363.04 $64,773.79
184 $64,773.79 $202.78 $0.00 $366.24 $65,342.81
185 $65,342.81 $202.78 $0.00 $369.46 $65,915.05
186 $65,915.05 $202.78 $0.00 $372.69 $66,490.52
187 $66,490.52 $202.78 $0.00 $375.95 $67,069.25
188 $67,069.25 $202.78 $0.00 $379.22 $67,651.25
189 $67,651.25 $202.78 $0.00 $382.51 $68,236.54
190 $68,236.54 $202.78 $0.00 $385.82 $68,825.14
191 $68,825.14 $202.78 $0.00 $389.15 $69,417.07
192 $69,417.07 $202.78 $0.00 $392.49 $70,012.34
193 $70,012.34 $202.78 $0.00 $395.86 $70,610.98
194 $70,610.98 $202.78 $0.00 $399.24 $71,213.00
195 $71,213.00 $202.78 $0.00 $402.65 $71,818.43
196 $71,818.43 $202.78 $0.00 $406.07 $72,427.28
197 $72,427.28 $202.78 $0.00 $409.51 $73,039.57
198 $73,039.57 $202.78 $0.00 $412.98 $73,655.33
199 $73,655.33 $202.78 $0.00 $416.46 $74,274.57
200 $74,274.57 $202.78 $0.00 $419.96 $74,897.31
201 $74,897.31 $202.78 $0.00 $423.48 $75,523.57
202 $75,523.57 $202.78 $0.00 $427.02 $76,153.37
203 $76,153.37 $202.78 $0.00 $430.58 $76,786.73
204 $76,786.73 $202.78 $0.00 $434.16 $77,423.67
205 $77,423.67 $202.78 $0.00 $437.76 $78,064.21
206 $78,064.21 $202.78 $0.00 $441.39 $78,708.38
207 $78,708.38 $202.78 $0.00 $445.03 $79,356.19
208 $79,356.19 $202.78 $0.00 $448.69 $80,007.66
209 $80,007.66 $202.78 $0.00 $452.37 $80,662.81
210 $80,662.81 $202.78 $0.00 $456.08 $81,321.67
211 $81,321.67 $202.78 $0.00 $459.80 $81,984.25
212 $81,984.25 $202.78 $0.00 $463.55 $82,650.58
213 $82,650.58 $202.78 $0.00 $467.32 $83,320.68
214 $83,320.68 $202.78 $0.00 $471.11 $83,994.57
215 $83,994.57 $202.78 $0.00 $474.92 $84,672.27
216 $84,672.27 $202.78 $0.00 $478.75 $85,353.80
217 $85,353.80 $202.78 $44,512.83 $482.60 $41,526.35
218 $41,526.35 $202.78 $0.00 $234.80 $41,963.93
219 $41,963.93 $202.78 $0.00 $237.27 $42,403.98
220 $42,403.98 $202.78 $0.00 $239.76 $42,846.52
221 $42,846.52 $202.78 $0.00 $242.26 $43,291.56
222 $43,291.56 $202.78 $0.00 $244.78 $43,739.12
223 $43,739.12 $202.78 $0.00 $247.31 $44,189.21
224 $44,189.21 $202.78 $0.00 $249.85 $44,641.84
225 $44,641.84 $202.78 $0.00 $252.41 $45,097.03
226 $45,097.03 $202.78 $0.00 $254.99 $45,554.80
227 $45,554.80 $202.78 $0.00 $257.57 $46,015.15
228 $46,015.15 $202.78 $0.00 $260.18 $46,478.11
229 $46,478.11 $0.00 $46,738.47 $262.79 $2.43