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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$43,208
Monthly savings required$192

How much will it cost to send your child to Guilford Technical Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $86,416.40 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $192.04 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$17,516.00
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 $192.04 $0.00 $0.00 $192.04
2 $192.04 $192.04 $0.00 $1.09 $385.17
3 $385.17 $192.04 $0.00 $2.18 $579.39
4 $579.39 $192.04 $0.00 $3.28 $774.71
5 $774.71 $192.04 $0.00 $4.38 $971.13
6 $971.13 $192.04 $0.00 $5.49 $1,168.66
7 $1,168.66 $192.04 $0.00 $6.61 $1,367.31
8 $1,367.31 $192.04 $0.00 $7.73 $1,567.08
9 $1,567.08 $192.04 $0.00 $8.86 $1,767.98
10 $1,767.98 $192.04 $0.00 $10.00 $1,970.02
11 $1,970.02 $192.04 $0.00 $11.14 $2,173.20
12 $2,173.20 $192.04 $0.00 $12.29 $2,377.53
13 $2,377.53 $192.04 $0.00 $13.44 $2,583.01
14 $2,583.01 $192.04 $0.00 $14.60 $2,789.65
15 $2,789.65 $192.04 $0.00 $15.77 $2,997.46
16 $2,997.46 $192.04 $0.00 $16.95 $3,206.45
17 $3,206.45 $192.04 $0.00 $18.13 $3,416.62
18 $3,416.62 $192.04 $0.00 $19.32 $3,627.98
19 $3,627.98 $192.04 $0.00 $20.51 $3,840.53
20 $3,840.53 $192.04 $0.00 $21.71 $4,054.28
21 $4,054.28 $192.04 $0.00 $22.92 $4,269.24
22 $4,269.24 $192.04 $0.00 $24.14 $4,485.42
23 $4,485.42 $192.04 $0.00 $25.36 $4,702.82
24 $4,702.82 $192.04 $0.00 $26.59 $4,921.45
25 $4,921.45 $192.04 $0.00 $27.83 $5,141.32
26 $5,141.32 $192.04 $0.00 $29.07 $5,362.43
27 $5,362.43 $192.04 $0.00 $30.32 $5,584.79
28 $5,584.79 $192.04 $0.00 $31.58 $5,808.41
29 $5,808.41 $192.04 $0.00 $32.84 $6,033.29
30 $6,033.29 $192.04 $0.00 $34.11 $6,259.44
31 $6,259.44 $192.04 $0.00 $35.39 $6,486.87
32 $6,486.87 $192.04 $0.00 $36.68 $6,715.59
33 $6,715.59 $192.04 $0.00 $37.97 $6,945.60
34 $6,945.60 $192.04 $0.00 $39.27 $7,176.91
35 $7,176.91 $192.04 $0.00 $40.58 $7,409.53
36 $7,409.53 $192.04 $0.00 $41.89 $7,643.46
37 $7,643.46 $192.04 $0.00 $43.22 $7,878.72
38 $7,878.72 $192.04 $0.00 $44.55 $8,115.31
39 $8,115.31 $192.04 $0.00 $45.89 $8,353.24
40 $8,353.24 $192.04 $0.00 $47.23 $8,592.51
41 $8,592.51 $192.04 $0.00 $48.58 $8,833.13
42 $8,833.13 $192.04 $0.00 $49.94 $9,075.11
43 $9,075.11 $192.04 $0.00 $51.31 $9,318.46
44 $9,318.46 $192.04 $0.00 $52.69 $9,563.19
45 $9,563.19 $192.04 $0.00 $54.07 $9,809.30
46 $9,809.30 $192.04 $0.00 $55.46 $10,056.80
47 $10,056.80 $192.04 $0.00 $56.86 $10,305.70
48 $10,305.70 $192.04 $0.00 $58.27 $10,556.01
49 $10,556.01 $192.04 $0.00 $59.69 $10,807.74
50 $10,807.74 $192.04 $0.00 $61.11 $11,060.89
51 $11,060.89 $192.04 $0.00 $62.54 $11,315.47
52 $11,315.47 $192.04 $0.00 $63.98 $11,571.49
53 $11,571.49 $192.04 $0.00 $65.43 $11,828.96
54 $11,828.96 $192.04 $0.00 $66.88 $12,087.88
55 $12,087.88 $192.04 $0.00 $68.35 $12,348.27
56 $12,348.27 $192.04 $0.00 $69.82 $12,610.13
57 $12,610.13 $192.04 $0.00 $71.30 $12,873.47
58 $12,873.47 $192.04 $0.00 $72.79 $13,138.30
59 $13,138.30 $192.04 $0.00 $74.29 $13,404.63
60 $13,404.63 $192.04 $0.00 $75.79 $13,672.46
61 $13,672.46 $192.04 $0.00 $77.31 $13,941.81
62 $13,941.81 $192.04 $0.00 $78.83 $14,212.68
63 $14,212.68 $192.04 $0.00 $80.36 $14,485.08
64 $14,485.08 $192.04 $0.00 $81.90 $14,759.02
65 $14,759.02 $192.04 $0.00 $83.45 $15,034.51
66 $15,034.51 $192.04 $0.00 $85.01 $15,311.56
67 $15,311.56 $192.04 $0.00 $86.57 $15,590.17
68 $15,590.17 $192.04 $0.00 $88.15 $15,870.36
69 $15,870.36 $192.04 $0.00 $89.73 $16,152.13
70 $16,152.13 $192.04 $0.00 $91.33 $16,435.50
71 $16,435.50 $192.04 $0.00 $92.93 $16,720.47
72 $16,720.47 $192.04 $0.00 $94.54 $17,007.05
73 $17,007.05 $192.04 $0.00 $96.16 $17,295.25
74 $17,295.25 $192.04 $0.00 $97.79 $17,585.08
75 $17,585.08 $192.04 $0.00 $99.43 $17,876.55
76 $17,876.55 $192.04 $0.00 $101.08 $18,169.67
77 $18,169.67 $192.04 $0.00 $102.73 $18,464.44
78 $18,464.44 $192.04 $0.00 $104.40 $18,760.88
79 $18,760.88 $192.04 $0.00 $106.08 $19,059.00
80 $19,059.00 $192.04 $0.00 $107.76 $19,358.80
81 $19,358.80 $192.04 $0.00 $109.46 $19,660.30
82 $19,660.30 $192.04 $0.00 $111.16 $19,963.50
83 $19,963.50 $192.04 $0.00 $112.88 $20,268.42
84 $20,268.42 $192.04 $0.00 $114.60 $20,575.06
85 $20,575.06 $192.04 $0.00 $116.33 $20,883.43
86 $20,883.43 $192.04 $0.00 $118.08 $21,193.55
87 $21,193.55 $192.04 $0.00 $119.83 $21,505.42
88 $21,505.42 $192.04 $0.00 $121.59 $21,819.05
89 $21,819.05 $192.04 $0.00 $123.37 $22,134.46
90 $22,134.46 $192.04 $0.00 $125.15 $22,451.65
91 $22,451.65 $192.04 $0.00 $126.94 $22,770.63
92 $22,770.63 $192.04 $0.00 $128.75 $23,091.42
93 $23,091.42 $192.04 $0.00 $130.56 $23,414.02
94 $23,414.02 $192.04 $0.00 $132.39 $23,738.45
95 $23,738.45 $192.04 $0.00 $134.22 $24,064.71
96 $24,064.71 $192.04 $0.00 $136.07 $24,392.82
97 $24,392.82 $192.04 $0.00 $137.92 $24,722.78
98 $24,722.78 $192.04 $0.00 $139.79 $25,054.61
99 $25,054.61 $192.04 $0.00 $141.66 $25,388.31
100 $25,388.31 $192.04 $0.00 $143.55 $25,723.90
101 $25,723.90 $192.04 $0.00 $145.45 $26,061.39
102 $26,061.39 $192.04 $0.00 $147.35 $26,400.78
103 $26,400.78 $192.04 $0.00 $149.27 $26,742.09
104 $26,742.09 $192.04 $0.00 $151.20 $27,085.33
105 $27,085.33 $192.04 $0.00 $153.14 $27,430.51
106 $27,430.51 $192.04 $0.00 $155.10 $27,777.65
107 $27,777.65 $192.04 $0.00 $157.06 $28,126.75
108 $28,126.75 $192.04 $0.00 $159.03 $28,477.82
109 $28,477.82 $192.04 $0.00 $161.02 $28,830.88
110 $28,830.88 $192.04 $0.00 $163.01 $29,185.93
111 $29,185.93 $192.04 $0.00 $165.02 $29,542.99
112 $29,542.99 $192.04 $0.00 $167.04 $29,902.07
113 $29,902.07 $192.04 $0.00 $169.07 $30,263.18
114 $30,263.18 $192.04 $0.00 $171.11 $30,626.33
115 $30,626.33 $192.04 $0.00 $173.17 $30,991.54
116 $30,991.54 $192.04 $0.00 $175.23 $31,358.81
117 $31,358.81 $192.04 $0.00 $177.31 $31,728.16
118 $31,728.16 $192.04 $0.00 $179.40 $32,099.60
119 $32,099.60 $192.04 $0.00 $181.50 $32,473.14
120 $32,473.14 $192.04 $0.00 $183.61 $32,848.79
121 $32,848.79 $192.04 $0.00 $185.73 $33,226.56
122 $33,226.56 $192.04 $0.00 $187.87 $33,606.47
123 $33,606.47 $192.04 $0.00 $190.02 $33,988.53
124 $33,988.53 $192.04 $0.00 $192.18 $34,372.75
125 $34,372.75 $192.04 $0.00 $194.35 $34,759.14
126 $34,759.14 $192.04 $0.00 $196.53 $35,147.71
127 $35,147.71 $192.04 $0.00 $198.73 $35,538.48
128 $35,538.48 $192.04 $0.00 $200.94 $35,931.46
129 $35,931.46 $192.04 $0.00 $203.16 $36,326.66
130 $36,326.66 $192.04 $0.00 $205.40 $36,724.10
131 $36,724.10 $192.04 $0.00 $207.64 $37,123.78
132 $37,123.78 $192.04 $0.00 $209.90 $37,525.72
133 $37,525.72 $192.04 $0.00 $212.18 $37,929.94
134 $37,929.94 $192.04 $0.00 $214.46 $38,336.44
135 $38,336.44 $192.04 $0.00 $216.76 $38,745.24
136 $38,745.24 $192.04 $0.00 $219.07 $39,156.35
137 $39,156.35 $192.04 $0.00 $221.40 $39,569.79
138 $39,569.79 $192.04 $0.00 $223.73 $39,985.56
139 $39,985.56 $192.04 $0.00 $226.08 $40,403.68
140 $40,403.68 $192.04 $0.00 $228.45 $40,824.17
141 $40,824.17 $192.04 $0.00 $230.83 $41,247.04
142 $41,247.04 $192.04 $0.00 $233.22 $41,672.30
143 $41,672.30 $192.04 $0.00 $235.62 $42,099.96
144 $42,099.96 $192.04 $0.00 $238.04 $42,530.04
145 $42,530.04 $192.04 $0.00 $240.47 $42,962.55
146 $42,962.55 $192.04 $0.00 $242.92 $43,397.51
147 $43,397.51 $192.04 $0.00 $245.38 $43,834.93
148 $43,834.93 $192.04 $0.00 $247.85 $44,274.82
149 $44,274.82 $192.04 $0.00 $250.34 $44,717.20
150 $44,717.20 $192.04 $0.00 $252.84 $45,162.08
151 $45,162.08 $192.04 $0.00 $255.35 $45,609.47
152 $45,609.47 $192.04 $0.00 $257.88 $46,059.39
153 $46,059.39 $192.04 $0.00 $260.43 $46,511.86
154 $46,511.86 $192.04 $0.00 $262.98 $46,966.88
155 $46,966.88 $192.04 $0.00 $265.56 $47,424.48
156 $47,424.48 $192.04 $0.00 $268.14 $47,884.66
157 $47,884.66 $192.04 $0.00 $270.75 $48,347.45
158 $48,347.45 $192.04 $0.00 $273.36 $48,812.85
159 $48,812.85 $192.04 $0.00 $275.99 $49,280.88
160 $49,280.88 $192.04 $0.00 $278.64 $49,751.56
161 $49,751.56 $192.04 $0.00 $281.30 $50,224.90
162 $50,224.90 $192.04 $0.00 $283.98 $50,700.92
163 $50,700.92 $192.04 $0.00 $286.67 $51,179.63
164 $51,179.63 $192.04 $0.00 $289.38 $51,661.05
165 $51,661.05 $192.04 $0.00 $292.10 $52,145.19
166 $52,145.19 $192.04 $0.00 $294.84 $52,632.07
167 $52,632.07 $192.04 $0.00 $297.59 $53,121.70
168 $53,121.70 $192.04 $0.00 $300.36 $53,614.10
169 $53,614.10 $192.04 $0.00 $303.14 $54,109.28
170 $54,109.28 $192.04 $0.00 $305.94 $54,607.26
171 $54,607.26 $192.04 $0.00 $308.76 $55,108.06
172 $55,108.06 $192.04 $0.00 $311.59 $55,611.69
173 $55,611.69 $192.04 $0.00 $314.44 $56,118.17
174 $56,118.17 $192.04 $0.00 $317.30 $56,627.51
175 $56,627.51 $192.04 $0.00 $320.18 $57,139.73
176 $57,139.73 $192.04 $0.00 $323.08 $57,654.85
177 $57,654.85 $192.04 $0.00 $325.99 $58,172.88
178 $58,172.88 $192.04 $0.00 $328.92 $58,693.84
179 $58,693.84 $192.04 $0.00 $331.86 $59,217.74
180 $59,217.74 $192.04 $0.00 $334.83 $59,744.61
181 $59,744.61 $192.04 $0.00 $337.80 $60,274.45
182 $60,274.45 $192.04 $0.00 $340.80 $60,807.29
183 $60,807.29 $192.04 $0.00 $343.81 $61,343.14
184 $61,343.14 $192.04 $0.00 $346.84 $61,882.02
185 $61,882.02 $192.04 $0.00 $349.89 $62,423.95
186 $62,423.95 $192.04 $0.00 $352.95 $62,968.94
187 $62,968.94 $192.04 $0.00 $356.04 $63,517.02
188 $63,517.02 $192.04 $0.00 $359.13 $64,068.19
189 $64,068.19 $192.04 $0.00 $362.25 $64,622.48
190 $64,622.48 $192.04 $0.00 $365.38 $65,179.90
191 $65,179.90 $192.04 $0.00 $368.54 $65,740.48
192 $65,740.48 $192.04 $0.00 $371.71 $66,304.23
193 $66,304.23 $192.04 $0.00 $374.89 $66,871.16
194 $66,871.16 $192.04 $0.00 $378.10 $67,441.30
195 $67,441.30 $192.04 $0.00 $381.32 $68,014.66
196 $68,014.66 $192.04 $0.00 $384.56 $68,591.26
197 $68,591.26 $192.04 $0.00 $387.82 $69,171.12
198 $69,171.12 $192.04 $0.00 $391.10 $69,754.26
199 $69,754.26 $192.04 $0.00 $394.40 $70,340.70
200 $70,340.70 $192.04 $0.00 $397.72 $70,930.46
201 $70,930.46 $192.04 $0.00 $401.05 $71,523.55
202 $71,523.55 $192.04 $0.00 $404.40 $72,119.99
203 $72,119.99 $192.04 $0.00 $407.78 $72,719.81
204 $72,719.81 $192.04 $0.00 $411.17 $73,323.02
205 $73,323.02 $192.04 $0.00 $414.58 $73,929.64
206 $73,929.64 $192.04 $0.00 $418.01 $74,539.69
207 $74,539.69 $192.04 $0.00 $421.46 $75,153.19
208 $75,153.19 $192.04 $0.00 $424.93 $75,770.16
209 $75,770.16 $192.04 $0.00 $428.42 $76,390.62
210 $76,390.62 $192.04 $0.00 $431.92 $77,014.58
211 $77,014.58 $192.04 $0.00 $435.45 $77,642.07
212 $77,642.07 $192.04 $0.00 $439.00 $78,273.11
213 $78,273.11 $192.04 $0.00 $442.57 $78,907.72
214 $78,907.72 $192.04 $0.00 $446.16 $79,545.92
215 $79,545.92 $192.04 $0.00 $449.76 $80,187.72
216 $80,187.72 $192.04 $0.00 $453.39 $80,833.15
217 $80,833.15 $192.04 $42,154.34 $457.04 $39,327.89
218 $39,327.89 $192.04 $0.00 $222.37 $39,742.30
219 $39,742.30 $192.04 $0.00 $224.71 $40,159.05
220 $40,159.05 $192.04 $0.00 $227.07 $40,578.16
221 $40,578.16 $192.04 $0.00 $229.43 $40,999.63
222 $40,999.63 $192.04 $0.00 $231.82 $41,423.49
223 $41,423.49 $192.04 $0.00 $234.21 $41,849.74
224 $41,849.74 $192.04 $0.00 $236.62 $42,278.40
225 $42,278.40 $192.04 $0.00 $239.05 $42,709.49
226 $42,709.49 $192.04 $0.00 $241.49 $43,143.02
227 $43,143.02 $192.04 $0.00 $243.94 $43,579.00
228 $43,579.00 $192.04 $0.00 $246.40 $44,017.44
229 $44,017.44 $0.00 $44,262.06 $248.88 $4.26