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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$43,275
Monthly savings required$192

How much will it cost to send your child to Schenectady County Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $86,549.61 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $192.33 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$17,543.00
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 $192.33 $0.00 $0.00 $192.33
2 $192.33 $192.33 $0.00 $1.09 $385.75
3 $385.75 $192.33 $0.00 $2.18 $580.26
4 $580.26 $192.33 $0.00 $3.28 $775.87
5 $775.87 $192.33 $0.00 $4.39 $972.59
6 $972.59 $192.33 $0.00 $5.50 $1,170.42
7 $1,170.42 $192.33 $0.00 $6.62 $1,369.37
8 $1,369.37 $192.33 $0.00 $7.74 $1,569.44
9 $1,569.44 $192.33 $0.00 $8.87 $1,770.64
10 $1,770.64 $192.33 $0.00 $10.01 $1,972.98
11 $1,972.98 $192.33 $0.00 $11.16 $2,176.47
12 $2,176.47 $192.33 $0.00 $12.31 $2,381.11
13 $2,381.11 $192.33 $0.00 $13.46 $2,586.90
14 $2,586.90 $192.33 $0.00 $14.63 $2,793.86
15 $2,793.86 $192.33 $0.00 $15.80 $3,001.99
16 $3,001.99 $192.33 $0.00 $16.97 $3,211.29
17 $3,211.29 $192.33 $0.00 $18.16 $3,421.78
18 $3,421.78 $192.33 $0.00 $19.35 $3,633.46
19 $3,633.46 $192.33 $0.00 $20.54 $3,846.33
20 $3,846.33 $192.33 $0.00 $21.75 $4,060.41
21 $4,060.41 $192.33 $0.00 $22.96 $4,275.70
22 $4,275.70 $192.33 $0.00 $24.18 $4,492.21
23 $4,492.21 $192.33 $0.00 $25.40 $4,709.94
24 $4,709.94 $192.33 $0.00 $26.63 $4,928.90
25 $4,928.90 $192.33 $0.00 $27.87 $5,149.10
26 $5,149.10 $192.33 $0.00 $29.11 $5,370.54
27 $5,370.54 $192.33 $0.00 $30.37 $5,593.24
28 $5,593.24 $192.33 $0.00 $31.62 $5,817.19
29 $5,817.19 $192.33 $0.00 $32.89 $6,042.41
30 $6,042.41 $192.33 $0.00 $34.16 $6,268.90
31 $6,268.90 $192.33 $0.00 $35.45 $6,496.68
32 $6,496.68 $192.33 $0.00 $36.73 $6,725.74
33 $6,725.74 $192.33 $0.00 $38.03 $6,956.10
34 $6,956.10 $192.33 $0.00 $39.33 $7,187.76
35 $7,187.76 $192.33 $0.00 $40.64 $7,420.73
36 $7,420.73 $192.33 $0.00 $41.96 $7,655.02
37 $7,655.02 $192.33 $0.00 $43.28 $7,890.63
38 $7,890.63 $192.33 $0.00 $44.61 $8,127.57
39 $8,127.57 $192.33 $0.00 $45.95 $8,365.85
40 $8,365.85 $192.33 $0.00 $47.30 $8,605.48
41 $8,605.48 $192.33 $0.00 $48.66 $8,846.47
42 $8,846.47 $192.33 $0.00 $50.02 $9,088.82
43 $9,088.82 $192.33 $0.00 $51.39 $9,332.54
44 $9,332.54 $192.33 $0.00 $52.77 $9,577.64
45 $9,577.64 $192.33 $0.00 $54.15 $9,824.12
46 $9,824.12 $192.33 $0.00 $55.55 $10,072.00
47 $10,072.00 $192.33 $0.00 $56.95 $10,321.28
48 $10,321.28 $192.33 $0.00 $58.36 $10,571.97
49 $10,571.97 $192.33 $0.00 $59.78 $10,824.08
50 $10,824.08 $192.33 $0.00 $61.20 $11,077.61
51 $11,077.61 $192.33 $0.00 $62.63 $11,332.57
52 $11,332.57 $192.33 $0.00 $64.08 $11,588.98
53 $11,588.98 $192.33 $0.00 $65.53 $11,846.84
54 $11,846.84 $192.33 $0.00 $66.98 $12,106.15
55 $12,106.15 $192.33 $0.00 $68.45 $12,366.93
56 $12,366.93 $192.33 $0.00 $69.92 $12,629.18
57 $12,629.18 $192.33 $0.00 $71.41 $12,892.92
58 $12,892.92 $192.33 $0.00 $72.90 $13,158.15
59 $13,158.15 $192.33 $0.00 $74.40 $13,424.88
60 $13,424.88 $192.33 $0.00 $75.91 $13,693.12
61 $13,693.12 $192.33 $0.00 $77.42 $13,962.87
62 $13,962.87 $192.33 $0.00 $78.95 $14,234.15
63 $14,234.15 $192.33 $0.00 $80.48 $14,506.96
64 $14,506.96 $192.33 $0.00 $82.02 $14,781.31
65 $14,781.31 $192.33 $0.00 $83.58 $15,057.22
66 $15,057.22 $192.33 $0.00 $85.14 $15,334.69
67 $15,334.69 $192.33 $0.00 $86.70 $15,613.72
68 $15,613.72 $192.33 $0.00 $88.28 $15,894.33
69 $15,894.33 $192.33 $0.00 $89.87 $16,176.53
70 $16,176.53 $192.33 $0.00 $91.46 $16,460.32
71 $16,460.32 $192.33 $0.00 $93.07 $16,745.72
72 $16,745.72 $192.33 $0.00 $94.68 $17,032.73
73 $17,032.73 $192.33 $0.00 $96.31 $17,321.37
74 $17,321.37 $192.33 $0.00 $97.94 $17,611.64
75 $17,611.64 $192.33 $0.00 $99.58 $17,903.55
76 $17,903.55 $192.33 $0.00 $101.23 $18,197.11
77 $18,197.11 $192.33 $0.00 $102.89 $18,492.33
78 $18,492.33 $192.33 $0.00 $104.56 $18,789.22
79 $18,789.22 $192.33 $0.00 $106.24 $19,087.79
80 $19,087.79 $192.33 $0.00 $107.93 $19,388.05
81 $19,388.05 $192.33 $0.00 $109.62 $19,690.00
82 $19,690.00 $192.33 $0.00 $111.33 $19,993.66
83 $19,993.66 $192.33 $0.00 $113.05 $20,299.04
84 $20,299.04 $192.33 $0.00 $114.77 $20,606.14
85 $20,606.14 $192.33 $0.00 $116.51 $20,914.98
86 $20,914.98 $192.33 $0.00 $118.26 $21,225.57
87 $21,225.57 $192.33 $0.00 $120.01 $21,537.91
88 $21,537.91 $192.33 $0.00 $121.78 $21,852.02
89 $21,852.02 $192.33 $0.00 $123.55 $22,167.90
90 $22,167.90 $192.33 $0.00 $125.34 $22,485.57
91 $22,485.57 $192.33 $0.00 $127.14 $22,805.04
92 $22,805.04 $192.33 $0.00 $128.94 $23,126.31
93 $23,126.31 $192.33 $0.00 $130.76 $23,449.40
94 $23,449.40 $192.33 $0.00 $132.59 $23,774.32
95 $23,774.32 $192.33 $0.00 $134.42 $24,101.07
96 $24,101.07 $192.33 $0.00 $136.27 $24,429.67
97 $24,429.67 $192.33 $0.00 $138.13 $24,760.13
98 $24,760.13 $192.33 $0.00 $140.00 $25,092.46
99 $25,092.46 $192.33 $0.00 $141.88 $25,426.67
100 $25,426.67 $192.33 $0.00 $143.77 $25,762.77
101 $25,762.77 $192.33 $0.00 $145.67 $26,100.77
102 $26,100.77 $192.33 $0.00 $147.58 $26,440.68
103 $26,440.68 $192.33 $0.00 $149.50 $26,782.51
104 $26,782.51 $192.33 $0.00 $151.43 $27,126.27
105 $27,126.27 $192.33 $0.00 $153.38 $27,471.98
106 $27,471.98 $192.33 $0.00 $155.33 $27,819.64
107 $27,819.64 $192.33 $0.00 $157.30 $28,169.27
108 $28,169.27 $192.33 $0.00 $159.27 $28,520.87
109 $28,520.87 $192.33 $0.00 $161.26 $28,874.46
110 $28,874.46 $192.33 $0.00 $163.26 $29,230.05
111 $29,230.05 $192.33 $0.00 $165.27 $29,587.65
112 $29,587.65 $192.33 $0.00 $167.29 $29,947.27
113 $29,947.27 $192.33 $0.00 $169.33 $30,308.93
114 $30,308.93 $192.33 $0.00 $171.37 $30,672.63
115 $30,672.63 $192.33 $0.00 $173.43 $31,038.39
116 $31,038.39 $192.33 $0.00 $175.50 $31,406.22
117 $31,406.22 $192.33 $0.00 $177.58 $31,776.13
118 $31,776.13 $192.33 $0.00 $179.67 $32,148.13
119 $32,148.13 $192.33 $0.00 $181.77 $32,522.23
120 $32,522.23 $192.33 $0.00 $183.89 $32,898.45
121 $32,898.45 $192.33 $0.00 $186.01 $33,276.79
122 $33,276.79 $192.33 $0.00 $188.15 $33,657.27
123 $33,657.27 $192.33 $0.00 $190.30 $34,039.90
124 $34,039.90 $192.33 $0.00 $192.47 $34,424.70
125 $34,424.70 $192.33 $0.00 $194.64 $34,811.67
126 $34,811.67 $192.33 $0.00 $196.83 $35,200.83
127 $35,200.83 $192.33 $0.00 $199.03 $35,592.19
128 $35,592.19 $192.33 $0.00 $201.24 $35,985.76
129 $35,985.76 $192.33 $0.00 $203.47 $36,381.56
130 $36,381.56 $192.33 $0.00 $205.71 $36,779.60
131 $36,779.60 $192.33 $0.00 $207.96 $37,179.89
132 $37,179.89 $192.33 $0.00 $210.22 $37,582.44
133 $37,582.44 $192.33 $0.00 $212.50 $37,987.27
134 $37,987.27 $192.33 $0.00 $214.79 $38,394.39
135 $38,394.39 $192.33 $0.00 $217.09 $38,803.81
136 $38,803.81 $192.33 $0.00 $219.40 $39,215.54
137 $39,215.54 $192.33 $0.00 $221.73 $39,629.60
138 $39,629.60 $192.33 $0.00 $224.07 $40,046.00
139 $40,046.00 $192.33 $0.00 $226.43 $40,464.76
140 $40,464.76 $192.33 $0.00 $228.79 $40,885.88
141 $40,885.88 $192.33 $0.00 $231.17 $41,309.38
142 $41,309.38 $192.33 $0.00 $233.57 $41,735.28
143 $41,735.28 $192.33 $0.00 $235.98 $42,163.59
144 $42,163.59 $192.33 $0.00 $238.40 $42,594.32
145 $42,594.32 $192.33 $0.00 $240.83 $43,027.48
146 $43,027.48 $192.33 $0.00 $243.28 $43,463.09
147 $43,463.09 $192.33 $0.00 $245.75 $43,901.17
148 $43,901.17 $192.33 $0.00 $248.22 $44,341.72
149 $44,341.72 $192.33 $0.00 $250.71 $44,784.76
150 $44,784.76 $192.33 $0.00 $253.22 $45,230.31
151 $45,230.31 $192.33 $0.00 $255.74 $45,678.38
152 $45,678.38 $192.33 $0.00 $258.27 $46,128.98
153 $46,128.98 $192.33 $0.00 $260.82 $46,582.13
154 $46,582.13 $192.33 $0.00 $263.38 $47,037.84
155 $47,037.84 $192.33 $0.00 $265.96 $47,496.13
156 $47,496.13 $192.33 $0.00 $268.55 $47,957.01
157 $47,957.01 $192.33 $0.00 $271.16 $48,420.50
158 $48,420.50 $192.33 $0.00 $273.78 $48,886.61
159 $48,886.61 $192.33 $0.00 $276.41 $49,355.35
160 $49,355.35 $192.33 $0.00 $279.06 $49,826.74
161 $49,826.74 $192.33 $0.00 $281.73 $50,300.80
162 $50,300.80 $192.33 $0.00 $284.41 $50,777.54
163 $50,777.54 $192.33 $0.00 $287.10 $51,256.97
164 $51,256.97 $192.33 $0.00 $289.81 $51,739.11
165 $51,739.11 $192.33 $0.00 $292.54 $52,223.98
166 $52,223.98 $192.33 $0.00 $295.28 $52,711.59
167 $52,711.59 $192.33 $0.00 $298.04 $53,201.96
168 $53,201.96 $192.33 $0.00 $300.81 $53,695.10
169 $53,695.10 $192.33 $0.00 $303.60 $54,191.03
170 $54,191.03 $192.33 $0.00 $306.40 $54,689.76
171 $54,689.76 $192.33 $0.00 $309.22 $55,191.31
172 $55,191.31 $192.33 $0.00 $312.06 $55,695.70
173 $55,695.70 $192.33 $0.00 $314.91 $56,202.94
174 $56,202.94 $192.33 $0.00 $317.78 $56,713.05
175 $56,713.05 $192.33 $0.00 $320.66 $57,226.04
176 $57,226.04 $192.33 $0.00 $323.56 $57,741.93
177 $57,741.93 $192.33 $0.00 $326.48 $58,260.74
178 $58,260.74 $192.33 $0.00 $329.41 $58,782.48
179 $58,782.48 $192.33 $0.00 $332.36 $59,307.17
180 $59,307.17 $192.33 $0.00 $335.33 $59,834.83
181 $59,834.83 $192.33 $0.00 $338.31 $60,365.47
182 $60,365.47 $192.33 $0.00 $341.32 $60,899.12
183 $60,899.12 $192.33 $0.00 $344.33 $61,435.78
184 $61,435.78 $192.33 $0.00 $347.37 $61,975.48
185 $61,975.48 $192.33 $0.00 $350.42 $62,518.23
186 $62,518.23 $192.33 $0.00 $353.49 $63,064.05
187 $63,064.05 $192.33 $0.00 $356.57 $63,612.95
188 $63,612.95 $192.33 $0.00 $359.68 $64,164.96
189 $64,164.96 $192.33 $0.00 $362.80 $64,720.09
190 $64,720.09 $192.33 $0.00 $365.94 $65,278.36
191 $65,278.36 $192.33 $0.00 $369.09 $65,839.78
192 $65,839.78 $192.33 $0.00 $372.27 $66,404.38
193 $66,404.38 $192.33 $0.00 $375.46 $66,972.17
194 $66,972.17 $192.33 $0.00 $378.67 $67,543.17
195 $67,543.17 $192.33 $0.00 $381.90 $68,117.40
196 $68,117.40 $192.33 $0.00 $385.15 $68,694.88
197 $68,694.88 $192.33 $0.00 $388.41 $69,275.62
198 $69,275.62 $192.33 $0.00 $391.69 $69,859.64
199 $69,859.64 $192.33 $0.00 $395.00 $70,446.97
200 $70,446.97 $192.33 $0.00 $398.32 $71,037.62
201 $71,037.62 $192.33 $0.00 $401.66 $71,631.61
202 $71,631.61 $192.33 $0.00 $405.02 $72,228.96
203 $72,228.96 $192.33 $0.00 $408.39 $72,829.68
204 $72,829.68 $192.33 $0.00 $411.79 $73,433.80
205 $73,433.80 $192.33 $0.00 $415.21 $74,041.34
206 $74,041.34 $192.33 $0.00 $418.64 $74,652.31
207 $74,652.31 $192.33 $0.00 $422.10 $75,266.74
208 $75,266.74 $192.33 $0.00 $425.57 $75,884.64
209 $75,884.64 $192.33 $0.00 $429.06 $76,506.03
210 $76,506.03 $192.33 $0.00 $432.58 $77,130.94
211 $77,130.94 $192.33 $0.00 $436.11 $77,759.38
212 $77,759.38 $192.33 $0.00 $439.66 $78,391.37
213 $78,391.37 $192.33 $0.00 $443.24 $79,026.94
214 $79,026.94 $192.33 $0.00 $446.83 $79,666.10
215 $79,666.10 $192.33 $0.00 $450.44 $80,308.87
216 $80,308.87 $192.33 $0.00 $454.08 $80,955.28
217 $80,955.28 $192.33 $42,219.32 $457.73 $39,386.02
218 $39,386.02 $192.33 $0.00 $222.69 $39,801.04
219 $39,801.04 $192.33 $0.00 $225.04 $40,218.41
220 $40,218.41 $192.33 $0.00 $227.40 $40,638.14
221 $40,638.14 $192.33 $0.00 $229.77 $41,060.24
222 $41,060.24 $192.33 $0.00 $232.16 $41,484.73
223 $41,484.73 $192.33 $0.00 $234.56 $41,911.62
224 $41,911.62 $192.33 $0.00 $236.97 $42,340.92
225 $42,340.92 $192.33 $0.00 $239.40 $42,772.65
226 $42,772.65 $192.33 $0.00 $241.84 $43,206.82
227 $43,206.82 $192.33 $0.00 $244.30 $43,643.45
228 $43,643.45 $192.33 $0.00 $246.77 $44,082.55
229 $44,082.55 $0.00 $44,330.29 $249.25 $1.51