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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$48,391
Monthly savings required$215

How much will it cost to send your child to Raritan Valley Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $96,781.83 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $215.07 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$19,617.00
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 $215.07 $0.00 $0.00 $215.07
2 $215.07 $215.07 $0.00 $1.22 $431.36
3 $431.36 $215.07 $0.00 $2.44 $648.87
4 $648.87 $215.07 $0.00 $3.67 $867.61
5 $867.61 $215.07 $0.00 $4.91 $1,087.59
6 $1,087.59 $215.07 $0.00 $6.15 $1,308.81
7 $1,308.81 $215.07 $0.00 $7.40 $1,531.28
8 $1,531.28 $215.07 $0.00 $8.66 $1,755.01
9 $1,755.01 $215.07 $0.00 $9.92 $1,980.00
10 $1,980.00 $215.07 $0.00 $11.20 $2,206.27
11 $2,206.27 $215.07 $0.00 $12.47 $2,433.81
12 $2,433.81 $215.07 $0.00 $13.76 $2,662.64
13 $2,662.64 $215.07 $0.00 $15.05 $2,892.76
14 $2,892.76 $215.07 $0.00 $16.36 $3,124.19
15 $3,124.19 $215.07 $0.00 $17.66 $3,356.92
16 $3,356.92 $215.07 $0.00 $18.98 $3,590.97
17 $3,590.97 $215.07 $0.00 $20.30 $3,826.34
18 $3,826.34 $215.07 $0.00 $21.63 $4,063.04
19 $4,063.04 $215.07 $0.00 $22.97 $4,301.08
20 $4,301.08 $215.07 $0.00 $24.32 $4,540.47
21 $4,540.47 $215.07 $0.00 $25.67 $4,781.21
22 $4,781.21 $215.07 $0.00 $27.03 $5,023.31
23 $5,023.31 $215.07 $0.00 $28.40 $5,266.78
24 $5,266.78 $215.07 $0.00 $29.78 $5,511.63
25 $5,511.63 $215.07 $0.00 $31.16 $5,757.86
26 $5,757.86 $215.07 $0.00 $32.56 $6,005.49
27 $6,005.49 $215.07 $0.00 $33.96 $6,254.52
28 $6,254.52 $215.07 $0.00 $35.36 $6,504.95
29 $6,504.95 $215.07 $0.00 $36.78 $6,756.80
30 $6,756.80 $215.07 $0.00 $38.20 $7,010.07
31 $7,010.07 $215.07 $0.00 $39.64 $7,264.78
32 $7,264.78 $215.07 $0.00 $41.08 $7,520.93
33 $7,520.93 $215.07 $0.00 $42.52 $7,778.52
34 $7,778.52 $215.07 $0.00 $43.98 $8,037.57
35 $8,037.57 $215.07 $0.00 $45.45 $8,298.09
36 $8,298.09 $215.07 $0.00 $46.92 $8,560.08
37 $8,560.08 $215.07 $0.00 $48.40 $8,823.55
38 $8,823.55 $215.07 $0.00 $49.89 $9,088.51
39 $9,088.51 $215.07 $0.00 $51.39 $9,354.97
40 $9,354.97 $215.07 $0.00 $52.89 $9,622.93
41 $9,622.93 $215.07 $0.00 $54.41 $9,892.41
42 $9,892.41 $215.07 $0.00 $55.93 $10,163.41
43 $10,163.41 $215.07 $0.00 $57.47 $10,435.95
44 $10,435.95 $215.07 $0.00 $59.01 $10,710.03
45 $10,710.03 $215.07 $0.00 $60.56 $10,985.66
46 $10,985.66 $215.07 $0.00 $62.11 $11,262.84
47 $11,262.84 $215.07 $0.00 $63.68 $11,541.59
48 $11,541.59 $215.07 $0.00 $65.26 $11,821.92
49 $11,821.92 $215.07 $0.00 $66.84 $12,103.83
50 $12,103.83 $215.07 $0.00 $68.44 $12,387.34
51 $12,387.34 $215.07 $0.00 $70.04 $12,672.45
52 $12,672.45 $215.07 $0.00 $71.65 $12,959.17
53 $12,959.17 $215.07 $0.00 $73.27 $13,247.51
54 $13,247.51 $215.07 $0.00 $74.90 $13,537.48
55 $13,537.48 $215.07 $0.00 $76.54 $13,829.09
56 $13,829.09 $215.07 $0.00 $78.19 $14,122.35
57 $14,122.35 $215.07 $0.00 $79.85 $14,417.27
58 $14,417.27 $215.07 $0.00 $81.52 $14,713.86
59 $14,713.86 $215.07 $0.00 $83.19 $15,012.12
60 $15,012.12 $215.07 $0.00 $84.88 $15,312.07
61 $15,312.07 $215.07 $0.00 $86.58 $15,613.72
62 $15,613.72 $215.07 $0.00 $88.28 $15,917.07
63 $15,917.07 $215.07 $0.00 $90.00 $16,222.14
64 $16,222.14 $215.07 $0.00 $91.72 $16,528.93
65 $16,528.93 $215.07 $0.00 $93.46 $16,837.46
66 $16,837.46 $215.07 $0.00 $95.20 $17,147.73
67 $17,147.73 $215.07 $0.00 $96.96 $17,459.76
68 $17,459.76 $215.07 $0.00 $98.72 $17,773.55
69 $17,773.55 $215.07 $0.00 $100.49 $18,089.11
70 $18,089.11 $215.07 $0.00 $102.28 $18,406.46
71 $18,406.46 $215.07 $0.00 $104.07 $18,725.60
72 $18,725.60 $215.07 $0.00 $105.88 $19,046.55
73 $19,046.55 $215.07 $0.00 $107.69 $19,369.31
74 $19,369.31 $215.07 $0.00 $109.52 $19,693.90
75 $19,693.90 $215.07 $0.00 $111.35 $20,020.32
76 $20,020.32 $215.07 $0.00 $113.20 $20,348.59
77 $20,348.59 $215.07 $0.00 $115.05 $20,678.71
78 $20,678.71 $215.07 $0.00 $116.92 $21,010.70
79 $21,010.70 $215.07 $0.00 $118.80 $21,344.57
80 $21,344.57 $215.07 $0.00 $120.69 $21,680.33
81 $21,680.33 $215.07 $0.00 $122.58 $22,017.98
82 $22,017.98 $215.07 $0.00 $124.49 $22,357.54
83 $22,357.54 $215.07 $0.00 $126.41 $22,699.02
84 $22,699.02 $215.07 $0.00 $128.34 $23,042.43
85 $23,042.43 $215.07 $0.00 $130.29 $23,387.79
86 $23,387.79 $215.07 $0.00 $132.24 $23,735.10
87 $23,735.10 $215.07 $0.00 $134.20 $24,084.37
88 $24,084.37 $215.07 $0.00 $136.18 $24,435.62
89 $24,435.62 $215.07 $0.00 $138.16 $24,788.85
90 $24,788.85 $215.07 $0.00 $140.16 $25,144.08
91 $25,144.08 $215.07 $0.00 $142.17 $25,501.32
92 $25,501.32 $215.07 $0.00 $144.19 $25,860.58
93 $25,860.58 $215.07 $0.00 $146.22 $26,221.87
94 $26,221.87 $215.07 $0.00 $148.26 $26,585.20
95 $26,585.20 $215.07 $0.00 $150.32 $26,950.59
96 $26,950.59 $215.07 $0.00 $152.38 $27,318.04
97 $27,318.04 $215.07 $0.00 $154.46 $27,687.57
98 $27,687.57 $215.07 $0.00 $156.55 $28,059.19
99 $28,059.19 $215.07 $0.00 $158.65 $28,432.91
100 $28,432.91 $215.07 $0.00 $160.76 $28,808.74
101 $28,808.74 $215.07 $0.00 $162.89 $29,186.70
102 $29,186.70 $215.07 $0.00 $165.03 $29,566.80
103 $29,566.80 $215.07 $0.00 $167.17 $29,949.04
104 $29,949.04 $215.07 $0.00 $169.34 $30,333.45
105 $30,333.45 $215.07 $0.00 $171.51 $30,720.03
106 $30,720.03 $215.07 $0.00 $173.70 $31,108.80
107 $31,108.80 $215.07 $0.00 $175.89 $31,499.76
108 $31,499.76 $215.07 $0.00 $178.10 $31,892.93
109 $31,892.93 $215.07 $0.00 $180.33 $32,288.33
110 $32,288.33 $215.07 $0.00 $182.56 $32,685.96
111 $32,685.96 $215.07 $0.00 $184.81 $33,085.84
112 $33,085.84 $215.07 $0.00 $187.07 $33,487.98
113 $33,487.98 $215.07 $0.00 $189.35 $33,892.40
114 $33,892.40 $215.07 $0.00 $191.63 $34,299.10
115 $34,299.10 $215.07 $0.00 $193.93 $34,708.10
116 $34,708.10 $215.07 $0.00 $196.24 $35,119.41
117 $35,119.41 $215.07 $0.00 $198.57 $35,533.05
118 $35,533.05 $215.07 $0.00 $200.91 $35,949.03
119 $35,949.03 $215.07 $0.00 $203.26 $36,367.36
120 $36,367.36 $215.07 $0.00 $205.63 $36,788.06
121 $36,788.06 $215.07 $0.00 $208.01 $37,211.14
122 $37,211.14 $215.07 $0.00 $210.40 $37,636.61
123 $37,636.61 $215.07 $0.00 $212.80 $38,064.48
124 $38,064.48 $215.07 $0.00 $215.22 $38,494.77
125 $38,494.77 $215.07 $0.00 $217.66 $38,927.50
126 $38,927.50 $215.07 $0.00 $220.10 $39,362.67
127 $39,362.67 $215.07 $0.00 $222.56 $39,800.30
128 $39,800.30 $215.07 $0.00 $225.04 $40,240.41
129 $40,240.41 $215.07 $0.00 $227.53 $40,683.01
130 $40,683.01 $215.07 $0.00 $230.03 $41,128.11
131 $41,128.11 $215.07 $0.00 $232.54 $41,575.72
132 $41,575.72 $215.07 $0.00 $235.08 $42,025.87
133 $42,025.87 $215.07 $0.00 $237.62 $42,478.56
134 $42,478.56 $215.07 $0.00 $240.18 $42,933.81
135 $42,933.81 $215.07 $0.00 $242.75 $43,391.63
136 $43,391.63 $215.07 $0.00 $245.34 $43,852.04
137 $43,852.04 $215.07 $0.00 $247.95 $44,315.06
138 $44,315.06 $215.07 $0.00 $250.56 $44,780.69
139 $44,780.69 $215.07 $0.00 $253.20 $45,248.96
140 $45,248.96 $215.07 $0.00 $255.84 $45,719.87
141 $45,719.87 $215.07 $0.00 $258.51 $46,193.45
142 $46,193.45 $215.07 $0.00 $261.18 $46,669.70
143 $46,669.70 $215.07 $0.00 $263.88 $47,148.65
144 $47,148.65 $215.07 $0.00 $266.59 $47,630.31
145 $47,630.31 $215.07 $0.00 $269.31 $48,114.69
146 $48,114.69 $215.07 $0.00 $272.05 $48,601.81
147 $48,601.81 $215.07 $0.00 $274.80 $49,091.68
148 $49,091.68 $215.07 $0.00 $277.57 $49,584.32
149 $49,584.32 $215.07 $0.00 $280.36 $50,079.75
150 $50,079.75 $215.07 $0.00 $283.16 $50,577.98
151 $50,577.98 $215.07 $0.00 $285.98 $51,079.03
152 $51,079.03 $215.07 $0.00 $288.81 $51,582.91
153 $51,582.91 $215.07 $0.00 $291.66 $52,089.64
154 $52,089.64 $215.07 $0.00 $294.52 $52,599.23
155 $52,599.23 $215.07 $0.00 $297.40 $53,111.70
156 $53,111.70 $215.07 $0.00 $300.30 $53,627.07
157 $53,627.07 $215.07 $0.00 $303.22 $54,145.36
158 $54,145.36 $215.07 $0.00 $306.15 $54,666.58
159 $54,666.58 $215.07 $0.00 $309.09 $55,190.74
160 $55,190.74 $215.07 $0.00 $312.06 $55,717.87
161 $55,717.87 $215.07 $0.00 $315.04 $56,247.98
162 $56,247.98 $215.07 $0.00 $318.03 $56,781.08
163 $56,781.08 $215.07 $0.00 $321.05 $57,317.20
164 $57,317.20 $215.07 $0.00 $324.08 $57,856.35
165 $57,856.35 $215.07 $0.00 $327.13 $58,398.55
166 $58,398.55 $215.07 $0.00 $330.19 $58,943.81
167 $58,943.81 $215.07 $0.00 $333.28 $59,492.16
168 $59,492.16 $215.07 $0.00 $336.38 $60,043.61
169 $60,043.61 $215.07 $0.00 $339.50 $60,598.18
170 $60,598.18 $215.07 $0.00 $342.63 $61,155.88
171 $61,155.88 $215.07 $0.00 $345.78 $61,716.73
172 $61,716.73 $215.07 $0.00 $348.96 $62,280.76
173 $62,280.76 $215.07 $0.00 $352.14 $62,847.97
174 $62,847.97 $215.07 $0.00 $355.35 $63,418.39
175 $63,418.39 $215.07 $0.00 $358.58 $63,992.04
176 $63,992.04 $215.07 $0.00 $361.82 $64,568.93
177 $64,568.93 $215.07 $0.00 $365.08 $65,149.08
178 $65,149.08 $215.07 $0.00 $368.36 $65,732.51
179 $65,732.51 $215.07 $0.00 $371.66 $66,319.24
180 $66,319.24 $215.07 $0.00 $374.98 $66,909.29
181 $66,909.29 $215.07 $0.00 $378.31 $67,502.67
182 $67,502.67 $215.07 $0.00 $381.67 $68,099.41
183 $68,099.41 $215.07 $0.00 $385.04 $68,699.52
184 $68,699.52 $215.07 $0.00 $388.44 $69,303.03
185 $69,303.03 $215.07 $0.00 $391.85 $69,909.95
186 $69,909.95 $215.07 $0.00 $395.28 $70,520.30
187 $70,520.30 $215.07 $0.00 $398.73 $71,134.10
188 $71,134.10 $215.07 $0.00 $402.20 $71,751.37
189 $71,751.37 $215.07 $0.00 $405.69 $72,372.13
190 $72,372.13 $215.07 $0.00 $409.20 $72,996.40
191 $72,996.40 $215.07 $0.00 $412.73 $73,624.20
192 $73,624.20 $215.07 $0.00 $416.28 $74,255.55
193 $74,255.55 $215.07 $0.00 $419.85 $74,890.47
194 $74,890.47 $215.07 $0.00 $423.44 $75,528.98
195 $75,528.98 $215.07 $0.00 $427.05 $76,171.10
196 $76,171.10 $215.07 $0.00 $430.68 $76,816.85
197 $76,816.85 $215.07 $0.00 $434.33 $77,466.25
198 $77,466.25 $215.07 $0.00 $438.01 $78,119.33
199 $78,119.33 $215.07 $0.00 $441.70 $78,776.10
200 $78,776.10 $215.07 $0.00 $445.41 $79,436.58
201 $79,436.58 $215.07 $0.00 $449.15 $80,100.80
202 $80,100.80 $215.07 $0.00 $452.90 $80,768.77
203 $80,768.77 $215.07 $0.00 $456.68 $81,440.52
204 $81,440.52 $215.07 $0.00 $460.48 $82,116.07
205 $82,116.07 $215.07 $0.00 $464.30 $82,795.44
206 $82,795.44 $215.07 $0.00 $468.14 $83,478.65
207 $83,478.65 $215.07 $0.00 $472.00 $84,165.72
208 $84,165.72 $215.07 $0.00 $475.89 $84,856.68
209 $84,856.68 $215.07 $0.00 $479.79 $85,551.54
210 $85,551.54 $215.07 $0.00 $483.72 $86,250.33
211 $86,250.33 $215.07 $0.00 $487.67 $86,953.07
212 $86,953.07 $215.07 $0.00 $491.65 $87,659.79
213 $87,659.79 $215.07 $0.00 $495.64 $88,370.50
214 $88,370.50 $215.07 $0.00 $499.66 $89,085.23
215 $89,085.23 $215.07 $0.00 $503.70 $89,804.00
216 $89,804.00 $215.07 $0.00 $507.76 $90,526.83
217 $90,526.83 $215.07 $47,210.65 $511.85 $44,043.10
218 $44,043.10 $215.07 $0.00 $249.03 $44,507.20
219 $44,507.20 $215.07 $0.00 $251.65 $44,973.92
220 $44,973.92 $215.07 $0.00 $254.29 $45,443.28
221 $45,443.28 $215.07 $0.00 $256.94 $45,915.29
222 $45,915.29 $215.07 $0.00 $259.61 $46,389.97
223 $46,389.97 $215.07 $0.00 $262.30 $46,867.34
224 $46,867.34 $215.07 $0.00 $264.99 $47,347.40
225 $47,347.40 $215.07 $0.00 $267.71 $47,830.18
226 $47,830.18 $215.07 $0.00 $270.44 $48,315.69
227 $48,315.69 $215.07 $0.00 $273.18 $48,803.94
228 $48,803.94 $215.07 $0.00 $275.94 $49,294.95
229 $49,294.95 $0.00 $49,571.18 $278.72 $2.49