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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$47,611
Monthly savings required$212

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 $95,222.82 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $211.59 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$19,301.00
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 $211.59 $0.00 $0.00 $211.59
2 $211.59 $211.59 $0.00 $1.20 $424.38
3 $424.38 $211.59 $0.00 $2.40 $638.37
4 $638.37 $211.59 $0.00 $3.61 $853.57
5 $853.57 $211.59 $0.00 $4.83 $1,069.99
6 $1,069.99 $211.59 $0.00 $6.05 $1,287.63
7 $1,287.63 $211.59 $0.00 $7.28 $1,506.50
8 $1,506.50 $211.59 $0.00 $8.52 $1,726.61
9 $1,726.61 $211.59 $0.00 $9.76 $1,947.96
10 $1,947.96 $211.59 $0.00 $11.01 $2,170.56
11 $2,170.56 $211.59 $0.00 $12.27 $2,394.42
12 $2,394.42 $211.59 $0.00 $13.54 $2,619.55
13 $2,619.55 $211.59 $0.00 $14.81 $2,845.95
14 $2,845.95 $211.59 $0.00 $16.09 $3,073.63
15 $3,073.63 $211.59 $0.00 $17.38 $3,302.60
16 $3,302.60 $211.59 $0.00 $18.67 $3,532.86
17 $3,532.86 $211.59 $0.00 $19.98 $3,764.43
18 $3,764.43 $211.59 $0.00 $21.28 $3,997.30
19 $3,997.30 $211.59 $0.00 $22.60 $4,231.49
20 $4,231.49 $211.59 $0.00 $23.93 $4,467.01
21 $4,467.01 $211.59 $0.00 $25.26 $4,703.86
22 $4,703.86 $211.59 $0.00 $26.60 $4,942.05
23 $4,942.05 $211.59 $0.00 $27.94 $5,181.58
24 $5,181.58 $211.59 $0.00 $29.30 $5,422.47
25 $5,422.47 $211.59 $0.00 $30.66 $5,664.72
26 $5,664.72 $211.59 $0.00 $32.03 $5,908.34
27 $5,908.34 $211.59 $0.00 $33.41 $6,153.34
28 $6,153.34 $211.59 $0.00 $34.79 $6,399.72
29 $6,399.72 $211.59 $0.00 $36.18 $6,647.49
30 $6,647.49 $211.59 $0.00 $37.59 $6,896.67
31 $6,896.67 $211.59 $0.00 $38.99 $7,147.25
32 $7,147.25 $211.59 $0.00 $40.41 $7,399.25
33 $7,399.25 $211.59 $0.00 $41.84 $7,652.68
34 $7,652.68 $211.59 $0.00 $43.27 $7,907.54
35 $7,907.54 $211.59 $0.00 $44.71 $8,163.84
36 $8,163.84 $211.59 $0.00 $46.16 $8,421.59
37 $8,421.59 $211.59 $0.00 $47.62 $8,680.80
38 $8,680.80 $211.59 $0.00 $49.08 $8,941.47
39 $8,941.47 $211.59 $0.00 $50.56 $9,203.62
40 $9,203.62 $211.59 $0.00 $52.04 $9,467.25
41 $9,467.25 $211.59 $0.00 $53.53 $9,732.37
42 $9,732.37 $211.59 $0.00 $55.03 $9,998.99
43 $9,998.99 $211.59 $0.00 $56.54 $10,267.12
44 $10,267.12 $211.59 $0.00 $58.05 $10,536.76
45 $10,536.76 $211.59 $0.00 $59.58 $10,807.93
46 $10,807.93 $211.59 $0.00 $61.11 $11,080.63
47 $11,080.63 $211.59 $0.00 $62.65 $11,354.87
48 $11,354.87 $211.59 $0.00 $64.20 $11,630.66
49 $11,630.66 $211.59 $0.00 $65.76 $11,908.01
50 $11,908.01 $211.59 $0.00 $67.33 $12,186.93
51 $12,186.93 $211.59 $0.00 $68.91 $12,467.43
52 $12,467.43 $211.59 $0.00 $70.49 $12,749.51
53 $12,749.51 $211.59 $0.00 $72.09 $13,033.19
54 $13,033.19 $211.59 $0.00 $73.69 $13,318.47
55 $13,318.47 $211.59 $0.00 $75.30 $13,605.36
56 $13,605.36 $211.59 $0.00 $76.93 $13,893.88
57 $13,893.88 $211.59 $0.00 $78.56 $14,184.03
58 $14,184.03 $211.59 $0.00 $80.20 $14,475.82
59 $14,475.82 $211.59 $0.00 $81.85 $14,769.26
60 $14,769.26 $211.59 $0.00 $83.51 $15,064.36
61 $15,064.36 $211.59 $0.00 $85.18 $15,361.13
62 $15,361.13 $211.59 $0.00 $86.85 $15,659.57
63 $15,659.57 $211.59 $0.00 $88.54 $15,959.70
64 $15,959.70 $211.59 $0.00 $90.24 $16,261.53
65 $16,261.53 $211.59 $0.00 $91.95 $16,565.07
66 $16,565.07 $211.59 $0.00 $93.66 $16,870.32
67 $16,870.32 $211.59 $0.00 $95.39 $17,177.30
68 $17,177.30 $211.59 $0.00 $97.12 $17,486.01
69 $17,486.01 $211.59 $0.00 $98.87 $17,796.47
70 $17,796.47 $211.59 $0.00 $100.62 $18,108.68
71 $18,108.68 $211.59 $0.00 $102.39 $18,422.66
72 $18,422.66 $211.59 $0.00 $104.16 $18,738.41
73 $18,738.41 $211.59 $0.00 $105.95 $19,055.95
74 $19,055.95 $211.59 $0.00 $107.75 $19,375.29
75 $19,375.29 $211.59 $0.00 $109.55 $19,696.43
76 $19,696.43 $211.59 $0.00 $111.37 $20,019.39
77 $20,019.39 $211.59 $0.00 $113.19 $20,344.17
78 $20,344.17 $211.59 $0.00 $115.03 $20,670.79
79 $20,670.79 $211.59 $0.00 $116.88 $20,999.26
80 $20,999.26 $211.59 $0.00 $118.73 $21,329.58
81 $21,329.58 $211.59 $0.00 $120.60 $21,661.77
82 $21,661.77 $211.59 $0.00 $122.48 $21,995.84
83 $21,995.84 $211.59 $0.00 $124.37 $22,331.80
84 $22,331.80 $211.59 $0.00 $126.27 $22,669.66
85 $22,669.66 $211.59 $0.00 $128.18 $23,009.43
86 $23,009.43 $211.59 $0.00 $130.10 $23,351.12
87 $23,351.12 $211.59 $0.00 $132.03 $23,694.74
88 $23,694.74 $211.59 $0.00 $133.97 $24,040.30
89 $24,040.30 $211.59 $0.00 $135.93 $24,387.82
90 $24,387.82 $211.59 $0.00 $137.89 $24,737.30
91 $24,737.30 $211.59 $0.00 $139.87 $25,088.76
92 $25,088.76 $211.59 $0.00 $141.86 $25,442.21
93 $25,442.21 $211.59 $0.00 $143.85 $25,797.65
94 $25,797.65 $211.59 $0.00 $145.86 $26,155.10
95 $26,155.10 $211.59 $0.00 $147.88 $26,514.57
96 $26,514.57 $211.59 $0.00 $149.92 $26,876.08
97 $26,876.08 $211.59 $0.00 $151.96 $27,239.63
98 $27,239.63 $211.59 $0.00 $154.02 $27,605.24
99 $27,605.24 $211.59 $0.00 $156.08 $27,972.91
100 $27,972.91 $211.59 $0.00 $158.16 $28,342.66
101 $28,342.66 $211.59 $0.00 $160.25 $28,714.50
102 $28,714.50 $211.59 $0.00 $162.36 $29,088.45
103 $29,088.45 $211.59 $0.00 $164.47 $29,464.51
104 $29,464.51 $211.59 $0.00 $166.60 $29,842.70
105 $29,842.70 $211.59 $0.00 $168.73 $30,223.02
106 $30,223.02 $211.59 $0.00 $170.89 $30,605.50
107 $30,605.50 $211.59 $0.00 $173.05 $30,990.14
108 $30,990.14 $211.59 $0.00 $175.22 $31,376.95
109 $31,376.95 $211.59 $0.00 $177.41 $31,765.95
110 $31,765.95 $211.59 $0.00 $179.61 $32,157.15
111 $32,157.15 $211.59 $0.00 $181.82 $32,550.56
112 $32,550.56 $211.59 $0.00 $184.05 $32,946.20
113 $32,946.20 $211.59 $0.00 $186.28 $33,344.07
114 $33,344.07 $211.59 $0.00 $188.53 $33,744.19
115 $33,744.19 $211.59 $0.00 $190.79 $34,146.57
116 $34,146.57 $211.59 $0.00 $193.07 $34,551.23
117 $34,551.23 $211.59 $0.00 $195.36 $34,958.18
118 $34,958.18 $211.59 $0.00 $197.66 $35,367.43
119 $35,367.43 $211.59 $0.00 $199.97 $35,778.99
120 $35,778.99 $211.59 $0.00 $202.30 $36,192.88
121 $36,192.88 $211.59 $0.00 $204.64 $36,609.11
122 $36,609.11 $211.59 $0.00 $206.99 $37,027.69
123 $37,027.69 $211.59 $0.00 $209.36 $37,448.64
124 $37,448.64 $211.59 $0.00 $211.74 $37,871.97
125 $37,871.97 $211.59 $0.00 $214.13 $38,297.69
126 $38,297.69 $211.59 $0.00 $216.54 $38,725.82
127 $38,725.82 $211.59 $0.00 $218.96 $39,156.37
128 $39,156.37 $211.59 $0.00 $221.40 $39,589.36
129 $39,589.36 $211.59 $0.00 $223.84 $40,024.79
130 $40,024.79 $211.59 $0.00 $226.31 $40,462.69
131 $40,462.69 $211.59 $0.00 $228.78 $40,903.06
132 $40,903.06 $211.59 $0.00 $231.27 $41,345.92
133 $41,345.92 $211.59 $0.00 $233.78 $41,791.29
134 $41,791.29 $211.59 $0.00 $236.29 $42,239.17
135 $42,239.17 $211.59 $0.00 $238.83 $42,689.59
136 $42,689.59 $211.59 $0.00 $241.37 $43,142.55
137 $43,142.55 $211.59 $0.00 $243.93 $43,598.07
138 $43,598.07 $211.59 $0.00 $246.51 $44,056.17
139 $44,056.17 $211.59 $0.00 $249.10 $44,516.86
140 $44,516.86 $211.59 $0.00 $251.70 $44,980.15
141 $44,980.15 $211.59 $0.00 $254.32 $45,446.06
142 $45,446.06 $211.59 $0.00 $256.96 $45,914.61
143 $45,914.61 $211.59 $0.00 $259.61 $46,385.81
144 $46,385.81 $211.59 $0.00 $262.27 $46,859.67
145 $46,859.67 $211.59 $0.00 $264.95 $47,336.21
146 $47,336.21 $211.59 $0.00 $267.65 $47,815.45
147 $47,815.45 $211.59 $0.00 $270.36 $48,297.40
148 $48,297.40 $211.59 $0.00 $273.08 $48,782.07
149 $48,782.07 $211.59 $0.00 $275.82 $49,269.48
150 $49,269.48 $211.59 $0.00 $278.58 $49,759.65
151 $49,759.65 $211.59 $0.00 $281.35 $50,252.59
152 $50,252.59 $211.59 $0.00 $284.14 $50,748.32
153 $50,748.32 $211.59 $0.00 $286.94 $51,246.85
154 $51,246.85 $211.59 $0.00 $289.76 $51,748.20
155 $51,748.20 $211.59 $0.00 $292.59 $52,252.38
156 $52,252.38 $211.59 $0.00 $295.44 $52,759.41
157 $52,759.41 $211.59 $0.00 $298.31 $53,269.31
158 $53,269.31 $211.59 $0.00 $301.19 $53,782.09
159 $53,782.09 $211.59 $0.00 $304.09 $54,297.77
160 $54,297.77 $211.59 $0.00 $307.01 $54,816.37
161 $54,816.37 $211.59 $0.00 $309.94 $55,337.90
162 $55,337.90 $211.59 $0.00 $312.89 $55,862.38
163 $55,862.38 $211.59 $0.00 $315.85 $56,389.82
164 $56,389.82 $211.59 $0.00 $318.84 $56,920.25
165 $56,920.25 $211.59 $0.00 $321.84 $57,453.68
166 $57,453.68 $211.59 $0.00 $324.85 $57,990.12
167 $57,990.12 $211.59 $0.00 $327.88 $58,529.59
168 $58,529.59 $211.59 $0.00 $330.93 $59,072.11
169 $59,072.11 $211.59 $0.00 $334.00 $59,617.70
170 $59,617.70 $211.59 $0.00 $337.09 $60,166.38
171 $60,166.38 $211.59 $0.00 $340.19 $60,718.16
172 $60,718.16 $211.59 $0.00 $343.31 $61,273.06
173 $61,273.06 $211.59 $0.00 $346.45 $61,831.10
174 $61,831.10 $211.59 $0.00 $349.60 $62,392.29
175 $62,392.29 $211.59 $0.00 $352.78 $62,956.66
176 $62,956.66 $211.59 $0.00 $355.97 $63,524.22
177 $63,524.22 $211.59 $0.00 $359.18 $64,094.99
178 $64,094.99 $211.59 $0.00 $362.40 $64,668.98
179 $64,668.98 $211.59 $0.00 $365.65 $65,246.22
180 $65,246.22 $211.59 $0.00 $368.91 $65,826.72
181 $65,826.72 $211.59 $0.00 $372.19 $66,410.50
182 $66,410.50 $211.59 $0.00 $375.49 $66,997.58
183 $66,997.58 $211.59 $0.00 $378.81 $67,587.98
184 $67,587.98 $211.59 $0.00 $382.15 $68,181.72
185 $68,181.72 $211.59 $0.00 $385.51 $68,778.82
186 $68,778.82 $211.59 $0.00 $388.89 $69,379.30
187 $69,379.30 $211.59 $0.00 $392.28 $69,983.17
188 $69,983.17 $211.59 $0.00 $395.70 $70,590.46
189 $70,590.46 $211.59 $0.00 $399.13 $71,201.18
190 $71,201.18 $211.59 $0.00 $402.58 $71,815.35
191 $71,815.35 $211.59 $0.00 $406.05 $72,432.99
192 $72,432.99 $211.59 $0.00 $409.55 $73,054.13
193 $73,054.13 $211.59 $0.00 $413.06 $73,678.78
194 $73,678.78 $211.59 $0.00 $416.59 $74,306.96
195 $74,306.96 $211.59 $0.00 $420.14 $74,938.69
196 $74,938.69 $211.59 $0.00 $423.71 $75,573.99
197 $75,573.99 $211.59 $0.00 $427.31 $76,212.89
198 $76,212.89 $211.59 $0.00 $430.92 $76,855.40
199 $76,855.40 $211.59 $0.00 $434.55 $77,501.54
200 $77,501.54 $211.59 $0.00 $438.20 $78,151.33
201 $78,151.33 $211.59 $0.00 $441.88 $78,804.80
202 $78,804.80 $211.59 $0.00 $445.57 $79,461.96
203 $79,461.96 $211.59 $0.00 $449.29 $80,122.84
204 $80,122.84 $211.59 $0.00 $453.03 $80,787.46
205 $80,787.46 $211.59 $0.00 $456.78 $81,455.83
206 $81,455.83 $211.59 $0.00 $460.56 $82,127.98
207 $82,127.98 $211.59 $0.00 $464.36 $82,803.93
208 $82,803.93 $211.59 $0.00 $468.19 $83,483.71
209 $83,483.71 $211.59 $0.00 $472.03 $84,167.33
210 $84,167.33 $211.59 $0.00 $475.89 $84,854.81
211 $84,854.81 $211.59 $0.00 $479.78 $85,546.18
212 $85,546.18 $211.59 $0.00 $483.69 $86,241.46
213 $86,241.46 $211.59 $0.00 $487.62 $86,940.67
214 $86,940.67 $211.59 $0.00 $491.58 $87,643.84
215 $87,643.84 $211.59 $0.00 $495.55 $88,350.98
216 $88,350.98 $211.59 $0.00 $499.55 $89,062.12
217 $89,062.12 $211.59 $46,450.16 $503.57 $43,327.12
218 $43,327.12 $211.59 $0.00 $244.98 $43,783.69
219 $43,783.69 $211.59 $0.00 $247.56 $44,242.84
220 $44,242.84 $211.59 $0.00 $250.16 $44,704.59
221 $44,704.59 $211.59 $0.00 $252.77 $45,168.95
222 $45,168.95 $211.59 $0.00 $255.39 $45,635.93
223 $45,635.93 $211.59 $0.00 $258.03 $46,105.55
224 $46,105.55 $211.59 $0.00 $260.69 $46,577.83
225 $46,577.83 $211.59 $0.00 $263.36 $47,052.78
226 $47,052.78 $211.59 $0.00 $266.04 $47,530.41
227 $47,530.41 $211.59 $0.00 $268.74 $48,010.74
228 $48,010.74 $211.59 $0.00 $271.46 $48,493.79
229 $48,493.79 $0.00 $48,772.67 $274.19 ($4.69)