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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$45,495
Monthly savings required$202

How much will it cost to send your child to Mohawk Valley Community College Utica Branch in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $90,989.82 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $202.19 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$18,443.00
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 $202.19 $0.00 $0.00 $202.19
2 $202.19 $202.19 $0.00 $1.14 $405.52
3 $405.52 $202.19 $0.00 $2.29 $610.00
4 $610.00 $202.19 $0.00 $3.45 $815.64
5 $815.64 $202.19 $0.00 $4.61 $1,022.44
6 $1,022.44 $202.19 $0.00 $5.78 $1,230.41
7 $1,230.41 $202.19 $0.00 $6.96 $1,439.56
8 $1,439.56 $202.19 $0.00 $8.14 $1,649.89
9 $1,649.89 $202.19 $0.00 $9.33 $1,861.41
10 $1,861.41 $202.19 $0.00 $10.52 $2,074.12
11 $2,074.12 $202.19 $0.00 $11.73 $2,288.04
12 $2,288.04 $202.19 $0.00 $12.94 $2,503.17
13 $2,503.17 $202.19 $0.00 $14.15 $2,719.51
14 $2,719.51 $202.19 $0.00 $15.38 $2,937.08
15 $2,937.08 $202.19 $0.00 $16.61 $3,155.88
16 $3,155.88 $202.19 $0.00 $17.84 $3,375.91
17 $3,375.91 $202.19 $0.00 $19.09 $3,597.19
18 $3,597.19 $202.19 $0.00 $20.34 $3,819.72
19 $3,819.72 $202.19 $0.00 $21.60 $4,043.51
20 $4,043.51 $202.19 $0.00 $22.86 $4,268.56
21 $4,268.56 $202.19 $0.00 $24.14 $4,494.89
22 $4,494.89 $202.19 $0.00 $25.41 $4,722.49
23 $4,722.49 $202.19 $0.00 $26.70 $4,951.38
24 $4,951.38 $202.19 $0.00 $28.00 $5,181.57
25 $5,181.57 $202.19 $0.00 $29.30 $5,413.06
26 $5,413.06 $202.19 $0.00 $30.61 $5,645.86
27 $5,645.86 $202.19 $0.00 $31.92 $5,879.97
28 $5,879.97 $202.19 $0.00 $33.25 $6,115.41
29 $6,115.41 $202.19 $0.00 $34.58 $6,352.18
30 $6,352.18 $202.19 $0.00 $35.92 $6,590.29
31 $6,590.29 $202.19 $0.00 $37.26 $6,829.74
32 $6,829.74 $202.19 $0.00 $38.62 $7,070.55
33 $7,070.55 $202.19 $0.00 $39.98 $7,312.72
34 $7,312.72 $202.19 $0.00 $41.35 $7,556.26
35 $7,556.26 $202.19 $0.00 $42.72 $7,801.17
36 $7,801.17 $202.19 $0.00 $44.11 $8,047.47
37 $8,047.47 $202.19 $0.00 $45.50 $8,295.16
38 $8,295.16 $202.19 $0.00 $46.90 $8,544.25
39 $8,544.25 $202.19 $0.00 $48.31 $8,794.75
40 $8,794.75 $202.19 $0.00 $49.73 $9,046.67
41 $9,046.67 $202.19 $0.00 $51.15 $9,300.01
42 $9,300.01 $202.19 $0.00 $52.58 $9,554.78
43 $9,554.78 $202.19 $0.00 $54.02 $9,810.99
44 $9,810.99 $202.19 $0.00 $55.47 $10,068.65
45 $10,068.65 $202.19 $0.00 $56.93 $10,327.77
46 $10,327.77 $202.19 $0.00 $58.39 $10,588.35
47 $10,588.35 $202.19 $0.00 $59.87 $10,850.41
48 $10,850.41 $202.19 $0.00 $61.35 $11,113.95
49 $11,113.95 $202.19 $0.00 $62.84 $11,378.98
50 $11,378.98 $202.19 $0.00 $64.34 $11,645.51
51 $11,645.51 $202.19 $0.00 $65.85 $11,913.55
52 $11,913.55 $202.19 $0.00 $67.36 $12,183.10
53 $12,183.10 $202.19 $0.00 $68.89 $12,454.18
54 $12,454.18 $202.19 $0.00 $70.42 $12,726.79
55 $12,726.79 $202.19 $0.00 $71.96 $13,000.94
56 $13,000.94 $202.19 $0.00 $73.51 $13,276.64
57 $13,276.64 $202.19 $0.00 $75.07 $13,553.90
58 $13,553.90 $202.19 $0.00 $76.64 $13,832.73
59 $13,832.73 $202.19 $0.00 $78.21 $14,113.13
60 $14,113.13 $202.19 $0.00 $79.80 $14,395.12
61 $14,395.12 $202.19 $0.00 $81.39 $14,678.70
62 $14,678.70 $202.19 $0.00 $83.00 $14,963.89
63 $14,963.89 $202.19 $0.00 $84.61 $15,250.69
64 $15,250.69 $202.19 $0.00 $86.23 $15,539.11
65 $15,539.11 $202.19 $0.00 $87.86 $15,829.16
66 $15,829.16 $202.19 $0.00 $89.50 $16,120.85
67 $16,120.85 $202.19 $0.00 $91.15 $16,414.19
68 $16,414.19 $202.19 $0.00 $92.81 $16,709.19
69 $16,709.19 $202.19 $0.00 $94.48 $17,005.86
70 $17,005.86 $202.19 $0.00 $96.15 $17,304.20
71 $17,304.20 $202.19 $0.00 $97.84 $17,604.23
72 $17,604.23 $202.19 $0.00 $99.54 $17,905.96
73 $17,905.96 $202.19 $0.00 $101.24 $18,209.39
74 $18,209.39 $202.19 $0.00 $102.96 $18,514.54
75 $18,514.54 $202.19 $0.00 $104.68 $18,821.41
76 $18,821.41 $202.19 $0.00 $106.42 $19,130.02
77 $19,130.02 $202.19 $0.00 $108.16 $19,440.37
78 $19,440.37 $202.19 $0.00 $109.92 $19,752.48
79 $19,752.48 $202.19 $0.00 $111.68 $20,066.35
80 $20,066.35 $202.19 $0.00 $113.46 $20,382.00
81 $20,382.00 $202.19 $0.00 $115.24 $20,699.43
82 $20,699.43 $202.19 $0.00 $117.04 $21,018.66
83 $21,018.66 $202.19 $0.00 $118.84 $21,339.69
84 $21,339.69 $202.19 $0.00 $120.66 $21,662.54
85 $21,662.54 $202.19 $0.00 $122.48 $21,987.21
86 $21,987.21 $202.19 $0.00 $124.32 $22,313.72
87 $22,313.72 $202.19 $0.00 $126.17 $22,642.08
88 $22,642.08 $202.19 $0.00 $128.02 $22,972.29
89 $22,972.29 $202.19 $0.00 $129.89 $23,304.37
90 $23,304.37 $202.19 $0.00 $131.77 $23,638.33
91 $23,638.33 $202.19 $0.00 $133.65 $23,974.17
92 $23,974.17 $202.19 $0.00 $135.55 $24,311.91
93 $24,311.91 $202.19 $0.00 $137.46 $24,651.56
94 $24,651.56 $202.19 $0.00 $139.38 $24,993.13
95 $24,993.13 $202.19 $0.00 $141.31 $25,336.63
96 $25,336.63 $202.19 $0.00 $143.26 $25,682.08
97 $25,682.08 $202.19 $0.00 $145.21 $26,029.48
98 $26,029.48 $202.19 $0.00 $147.17 $26,378.84
99 $26,378.84 $202.19 $0.00 $149.15 $26,730.18
100 $26,730.18 $202.19 $0.00 $151.14 $27,083.51
101 $27,083.51 $202.19 $0.00 $153.13 $27,438.83
102 $27,438.83 $202.19 $0.00 $155.14 $27,796.16
103 $27,796.16 $202.19 $0.00 $157.16 $28,155.51
104 $28,155.51 $202.19 $0.00 $159.20 $28,516.90
105 $28,516.90 $202.19 $0.00 $161.24 $28,880.33
106 $28,880.33 $202.19 $0.00 $163.29 $29,245.81
107 $29,245.81 $202.19 $0.00 $165.36 $29,613.36
108 $29,613.36 $202.19 $0.00 $167.44 $29,982.99
109 $29,982.99 $202.19 $0.00 $169.53 $30,354.71
110 $30,354.71 $202.19 $0.00 $171.63 $30,728.53
111 $30,728.53 $202.19 $0.00 $173.74 $31,104.46
112 $31,104.46 $202.19 $0.00 $175.87 $31,482.52
113 $31,482.52 $202.19 $0.00 $178.01 $31,862.72
114 $31,862.72 $202.19 $0.00 $180.16 $32,245.07
115 $32,245.07 $202.19 $0.00 $182.32 $32,629.58
116 $32,629.58 $202.19 $0.00 $184.49 $33,016.26
117 $33,016.26 $202.19 $0.00 $186.68 $33,405.13
118 $33,405.13 $202.19 $0.00 $188.88 $33,796.20
119 $33,796.20 $202.19 $0.00 $191.09 $34,189.48
120 $34,189.48 $202.19 $0.00 $193.31 $34,584.98
121 $34,584.98 $202.19 $0.00 $195.55 $34,982.72
122 $34,982.72 $202.19 $0.00 $197.80 $35,382.71
123 $35,382.71 $202.19 $0.00 $200.06 $35,784.96
124 $35,784.96 $202.19 $0.00 $202.33 $36,189.48
125 $36,189.48 $202.19 $0.00 $204.62 $36,596.29
126 $36,596.29 $202.19 $0.00 $206.92 $37,005.40
127 $37,005.40 $202.19 $0.00 $209.23 $37,416.82
128 $37,416.82 $202.19 $0.00 $211.56 $37,830.57
129 $37,830.57 $202.19 $0.00 $213.90 $38,246.66
130 $38,246.66 $202.19 $0.00 $216.25 $38,665.10
131 $38,665.10 $202.19 $0.00 $218.62 $39,085.91
132 $39,085.91 $202.19 $0.00 $221.00 $39,509.10
133 $39,509.10 $202.19 $0.00 $223.39 $39,934.68
134 $39,934.68 $202.19 $0.00 $225.80 $40,362.67
135 $40,362.67 $202.19 $0.00 $228.22 $40,793.08
136 $40,793.08 $202.19 $0.00 $230.65 $41,225.92
137 $41,225.92 $202.19 $0.00 $233.10 $41,661.21
138 $41,661.21 $202.19 $0.00 $235.56 $42,098.96
139 $42,098.96 $202.19 $0.00 $238.03 $42,539.18
140 $42,539.18 $202.19 $0.00 $240.52 $42,981.89
141 $42,981.89 $202.19 $0.00 $243.03 $43,427.11
142 $43,427.11 $202.19 $0.00 $245.54 $43,874.84
143 $43,874.84 $202.19 $0.00 $248.07 $44,325.10
144 $44,325.10 $202.19 $0.00 $250.62 $44,777.91
145 $44,777.91 $202.19 $0.00 $253.18 $45,233.28
146 $45,233.28 $202.19 $0.00 $255.76 $45,691.23
147 $45,691.23 $202.19 $0.00 $258.34 $46,151.76
148 $46,151.76 $202.19 $0.00 $260.95 $46,614.90
149 $46,614.90 $202.19 $0.00 $263.57 $47,080.66
150 $47,080.66 $202.19 $0.00 $266.20 $47,549.05
151 $47,549.05 $202.19 $0.00 $268.85 $48,020.09
152 $48,020.09 $202.19 $0.00 $271.51 $48,493.79
153 $48,493.79 $202.19 $0.00 $274.19 $48,970.17
154 $48,970.17 $202.19 $0.00 $276.88 $49,449.24
155 $49,449.24 $202.19 $0.00 $279.59 $49,931.02
156 $49,931.02 $202.19 $0.00 $282.32 $50,415.53
157 $50,415.53 $202.19 $0.00 $285.06 $50,902.78
158 $50,902.78 $202.19 $0.00 $287.81 $51,392.78
159 $51,392.78 $202.19 $0.00 $290.58 $51,885.55
160 $51,885.55 $202.19 $0.00 $293.37 $52,381.11
161 $52,381.11 $202.19 $0.00 $296.17 $52,879.47
162 $52,879.47 $202.19 $0.00 $298.99 $53,380.65
163 $53,380.65 $202.19 $0.00 $301.82 $53,884.66
164 $53,884.66 $202.19 $0.00 $304.67 $54,391.52
165 $54,391.52 $202.19 $0.00 $307.54 $54,901.25
166 $54,901.25 $202.19 $0.00 $310.42 $55,413.86
167 $55,413.86 $202.19 $0.00 $313.32 $55,929.37
168 $55,929.37 $202.19 $0.00 $316.23 $56,447.79
169 $56,447.79 $202.19 $0.00 $319.16 $56,969.14
170 $56,969.14 $202.19 $0.00 $322.11 $57,493.44
171 $57,493.44 $202.19 $0.00 $325.08 $58,020.71
172 $58,020.71 $202.19 $0.00 $328.06 $58,550.96
173 $58,550.96 $202.19 $0.00 $331.06 $59,084.21
174 $59,084.21 $202.19 $0.00 $334.07 $59,620.47
175 $59,620.47 $202.19 $0.00 $337.10 $60,159.76
176 $60,159.76 $202.19 $0.00 $340.15 $60,702.10
177 $60,702.10 $202.19 $0.00 $343.22 $61,247.51
178 $61,247.51 $202.19 $0.00 $346.30 $61,796.00
179 $61,796.00 $202.19 $0.00 $349.40 $62,347.59
180 $62,347.59 $202.19 $0.00 $352.52 $62,902.30
181 $62,902.30 $202.19 $0.00 $355.66 $63,460.15
182 $63,460.15 $202.19 $0.00 $358.81 $64,021.15
183 $64,021.15 $202.19 $0.00 $361.98 $64,585.32
184 $64,585.32 $202.19 $0.00 $365.17 $65,152.68
185 $65,152.68 $202.19 $0.00 $368.38 $65,723.25
186 $65,723.25 $202.19 $0.00 $371.61 $66,297.05
187 $66,297.05 $202.19 $0.00 $374.85 $66,874.09
188 $66,874.09 $202.19 $0.00 $378.12 $67,454.40
189 $67,454.40 $202.19 $0.00 $381.40 $68,037.99
190 $68,037.99 $202.19 $0.00 $384.70 $68,624.88
191 $68,624.88 $202.19 $0.00 $388.02 $69,215.09
192 $69,215.09 $202.19 $0.00 $391.35 $69,808.63
193 $69,808.63 $202.19 $0.00 $394.71 $70,405.53
194 $70,405.53 $202.19 $0.00 $398.08 $71,005.80
195 $71,005.80 $202.19 $0.00 $401.48 $71,609.47
196 $71,609.47 $202.19 $0.00 $404.89 $72,216.55
197 $72,216.55 $202.19 $0.00 $408.32 $72,827.06
198 $72,827.06 $202.19 $0.00 $411.77 $73,441.02
199 $73,441.02 $202.19 $0.00 $415.25 $74,058.46
200 $74,058.46 $202.19 $0.00 $418.74 $74,679.39
201 $74,679.39 $202.19 $0.00 $422.25 $75,303.83
202 $75,303.83 $202.19 $0.00 $425.78 $75,931.80
203 $75,931.80 $202.19 $0.00 $429.33 $76,563.32
204 $76,563.32 $202.19 $0.00 $432.90 $77,198.41
205 $77,198.41 $202.19 $0.00 $436.49 $77,837.09
206 $77,837.09 $202.19 $0.00 $440.10 $78,479.38
207 $78,479.38 $202.19 $0.00 $443.73 $79,125.30
208 $79,125.30 $202.19 $0.00 $447.39 $79,774.88
209 $79,774.88 $202.19 $0.00 $451.06 $80,428.13
210 $80,428.13 $202.19 $0.00 $454.75 $81,085.07
211 $81,085.07 $202.19 $0.00 $458.47 $81,745.73
212 $81,745.73 $202.19 $0.00 $462.20 $82,410.12
213 $82,410.12 $202.19 $0.00 $465.96 $83,078.27
214 $83,078.27 $202.19 $0.00 $469.74 $83,750.20
215 $83,750.20 $202.19 $0.00 $473.54 $84,425.93
216 $84,425.93 $202.19 $0.00 $477.36 $85,105.48
217 $85,105.48 $202.19 $44,385.28 $481.20 $41,403.59
218 $41,403.59 $202.19 $0.00 $234.10 $41,839.88
219 $41,839.88 $202.19 $0.00 $236.57 $42,278.64
220 $42,278.64 $202.19 $0.00 $239.05 $42,719.88
221 $42,719.88 $202.19 $0.00 $241.54 $43,163.61
222 $43,163.61 $202.19 $0.00 $244.05 $43,609.85
223 $43,609.85 $202.19 $0.00 $246.58 $44,058.62
224 $44,058.62 $202.19 $0.00 $249.11 $44,509.92
225 $44,509.92 $202.19 $0.00 $251.67 $44,963.78
226 $44,963.78 $202.19 $0.00 $254.23 $45,420.20
227 $45,420.20 $202.19 $0.00 $256.81 $45,879.20
228 $45,879.20 $202.19 $0.00 $259.41 $46,340.80
229 $46,340.80 $0.00 $46,604.54 $262.02 ($1.72)