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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$43,583
Monthly savings required$194

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 $87,166.30 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $193.70 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$17,668.00
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 $193.70 $0.00 $0.00 $193.70
2 $193.70 $193.70 $0.00 $1.10 $388.50
3 $388.50 $193.70 $0.00 $2.20 $584.40
4 $584.40 $193.70 $0.00 $3.30 $781.40
5 $781.40 $193.70 $0.00 $4.42 $979.52
6 $979.52 $193.70 $0.00 $5.54 $1,178.76
7 $1,178.76 $193.70 $0.00 $6.66 $1,379.12
8 $1,379.12 $193.70 $0.00 $7.80 $1,580.62
9 $1,580.62 $193.70 $0.00 $8.94 $1,783.26
10 $1,783.26 $193.70 $0.00 $10.08 $1,987.04
11 $1,987.04 $193.70 $0.00 $11.24 $2,191.98
12 $2,191.98 $193.70 $0.00 $12.39 $2,398.07
13 $2,398.07 $193.70 $0.00 $13.56 $2,605.33
14 $2,605.33 $193.70 $0.00 $14.73 $2,813.76
15 $2,813.76 $193.70 $0.00 $15.91 $3,023.37
16 $3,023.37 $193.70 $0.00 $17.09 $3,234.16
17 $3,234.16 $193.70 $0.00 $18.29 $3,446.15
18 $3,446.15 $193.70 $0.00 $19.49 $3,659.34
19 $3,659.34 $193.70 $0.00 $20.69 $3,873.73
20 $3,873.73 $193.70 $0.00 $21.90 $4,089.33
21 $4,089.33 $193.70 $0.00 $23.12 $4,306.15
22 $4,306.15 $193.70 $0.00 $24.35 $4,524.20
23 $4,524.20 $193.70 $0.00 $25.58 $4,743.48
24 $4,743.48 $193.70 $0.00 $26.82 $4,964.00
25 $4,964.00 $193.70 $0.00 $28.07 $5,185.77
26 $5,185.77 $193.70 $0.00 $29.32 $5,408.79
27 $5,408.79 $193.70 $0.00 $30.58 $5,633.07
28 $5,633.07 $193.70 $0.00 $31.85 $5,858.62
29 $5,858.62 $193.70 $0.00 $33.13 $6,085.45
30 $6,085.45 $193.70 $0.00 $34.41 $6,313.56
31 $6,313.56 $193.70 $0.00 $35.70 $6,542.96
32 $6,542.96 $193.70 $0.00 $36.99 $6,773.65
33 $6,773.65 $193.70 $0.00 $38.30 $7,005.65
34 $7,005.65 $193.70 $0.00 $39.61 $7,238.96
35 $7,238.96 $193.70 $0.00 $40.93 $7,473.59
36 $7,473.59 $193.70 $0.00 $42.26 $7,709.55
37 $7,709.55 $193.70 $0.00 $43.59 $7,946.84
38 $7,946.84 $193.70 $0.00 $44.93 $8,185.47
39 $8,185.47 $193.70 $0.00 $46.28 $8,425.45
40 $8,425.45 $193.70 $0.00 $47.64 $8,666.79
41 $8,666.79 $193.70 $0.00 $49.00 $8,909.49
42 $8,909.49 $193.70 $0.00 $50.38 $9,153.57
43 $9,153.57 $193.70 $0.00 $51.76 $9,399.03
44 $9,399.03 $193.70 $0.00 $53.14 $9,645.87
45 $9,645.87 $193.70 $0.00 $54.54 $9,894.11
46 $9,894.11 $193.70 $0.00 $55.94 $10,143.75
47 $10,143.75 $193.70 $0.00 $57.35 $10,394.80
48 $10,394.80 $193.70 $0.00 $58.77 $10,647.27
49 $10,647.27 $193.70 $0.00 $60.20 $10,901.17
50 $10,901.17 $193.70 $0.00 $61.64 $11,156.51
51 $11,156.51 $193.70 $0.00 $63.08 $11,413.29
52 $11,413.29 $193.70 $0.00 $64.53 $11,671.52
53 $11,671.52 $193.70 $0.00 $65.99 $11,931.21
54 $11,931.21 $193.70 $0.00 $67.46 $12,192.37
55 $12,192.37 $193.70 $0.00 $68.94 $12,455.01
56 $12,455.01 $193.70 $0.00 $70.42 $12,719.13
57 $12,719.13 $193.70 $0.00 $71.92 $12,984.75
58 $12,984.75 $193.70 $0.00 $73.42 $13,251.87
59 $13,251.87 $193.70 $0.00 $74.93 $13,520.50
60 $13,520.50 $193.70 $0.00 $76.45 $13,790.65
61 $13,790.65 $193.70 $0.00 $77.97 $14,062.32
62 $14,062.32 $193.70 $0.00 $79.51 $14,335.53
63 $14,335.53 $193.70 $0.00 $81.06 $14,610.29
64 $14,610.29 $193.70 $0.00 $82.61 $14,886.60
65 $14,886.60 $193.70 $0.00 $84.17 $15,164.47
66 $15,164.47 $193.70 $0.00 $85.74 $15,443.91
67 $15,443.91 $193.70 $0.00 $87.32 $15,724.93
68 $15,724.93 $193.70 $0.00 $88.91 $16,007.54
69 $16,007.54 $193.70 $0.00 $90.51 $16,291.75
70 $16,291.75 $193.70 $0.00 $92.12 $16,577.57
71 $16,577.57 $193.70 $0.00 $93.73 $16,865.00
72 $16,865.00 $193.70 $0.00 $95.36 $17,154.06
73 $17,154.06 $193.70 $0.00 $96.99 $17,444.75
74 $17,444.75 $193.70 $0.00 $98.64 $17,737.09
75 $17,737.09 $193.70 $0.00 $100.29 $18,031.08
76 $18,031.08 $193.70 $0.00 $101.95 $18,326.73
77 $18,326.73 $193.70 $0.00 $103.62 $18,624.05
78 $18,624.05 $193.70 $0.00 $105.30 $18,923.05
79 $18,923.05 $193.70 $0.00 $106.99 $19,223.74
80 $19,223.74 $193.70 $0.00 $108.69 $19,526.13
81 $19,526.13 $193.70 $0.00 $110.40 $19,830.23
82 $19,830.23 $193.70 $0.00 $112.12 $20,136.05
83 $20,136.05 $193.70 $0.00 $113.85 $20,443.60
84 $20,443.60 $193.70 $0.00 $115.59 $20,752.89
85 $20,752.89 $193.70 $0.00 $117.34 $21,063.93
86 $21,063.93 $193.70 $0.00 $119.10 $21,376.73
87 $21,376.73 $193.70 $0.00 $120.87 $21,691.30
88 $21,691.30 $193.70 $0.00 $122.65 $22,007.65
89 $22,007.65 $193.70 $0.00 $124.43 $22,325.78
90 $22,325.78 $193.70 $0.00 $126.23 $22,645.71
91 $22,645.71 $193.70 $0.00 $128.04 $22,967.45
92 $22,967.45 $193.70 $0.00 $129.86 $23,291.01
93 $23,291.01 $193.70 $0.00 $131.69 $23,616.40
94 $23,616.40 $193.70 $0.00 $133.53 $23,943.63
95 $23,943.63 $193.70 $0.00 $135.38 $24,272.71
96 $24,272.71 $193.70 $0.00 $137.24 $24,603.65
97 $24,603.65 $193.70 $0.00 $139.11 $24,936.46
98 $24,936.46 $193.70 $0.00 $140.99 $25,271.15
99 $25,271.15 $193.70 $0.00 $142.89 $25,607.74
100 $25,607.74 $193.70 $0.00 $144.79 $25,946.23
101 $25,946.23 $193.70 $0.00 $146.70 $26,286.63
102 $26,286.63 $193.70 $0.00 $148.63 $26,628.96
103 $26,628.96 $193.70 $0.00 $150.56 $26,973.22
104 $26,973.22 $193.70 $0.00 $152.51 $27,319.43
105 $27,319.43 $193.70 $0.00 $154.47 $27,667.60
106 $27,667.60 $193.70 $0.00 $156.44 $28,017.74
107 $28,017.74 $193.70 $0.00 $158.42 $28,369.86
108 $28,369.86 $193.70 $0.00 $160.41 $28,723.97
109 $28,723.97 $193.70 $0.00 $162.41 $29,080.08
110 $29,080.08 $193.70 $0.00 $164.42 $29,438.20
111 $29,438.20 $193.70 $0.00 $166.45 $29,798.35
112 $29,798.35 $193.70 $0.00 $168.48 $30,160.53
113 $30,160.53 $193.70 $0.00 $170.53 $30,524.76
114 $30,524.76 $193.70 $0.00 $172.59 $30,891.05
115 $30,891.05 $193.70 $0.00 $174.66 $31,259.41
116 $31,259.41 $193.70 $0.00 $176.75 $31,629.86
117 $31,629.86 $193.70 $0.00 $178.84 $32,002.40
118 $32,002.40 $193.70 $0.00 $180.95 $32,377.05
119 $32,377.05 $193.70 $0.00 $183.06 $32,753.81
120 $32,753.81 $193.70 $0.00 $185.19 $33,132.70
121 $33,132.70 $193.70 $0.00 $187.34 $33,513.74
122 $33,513.74 $193.70 $0.00 $189.49 $33,896.93
123 $33,896.93 $193.70 $0.00 $191.66 $34,282.29
124 $34,282.29 $193.70 $0.00 $193.84 $34,669.83
125 $34,669.83 $193.70 $0.00 $196.03 $35,059.56
126 $35,059.56 $193.70 $0.00 $198.23 $35,451.49
127 $35,451.49 $193.70 $0.00 $200.45 $35,845.64
128 $35,845.64 $193.70 $0.00 $202.68 $36,242.02
129 $36,242.02 $193.70 $0.00 $204.92 $36,640.64
130 $36,640.64 $193.70 $0.00 $207.17 $37,041.51
131 $37,041.51 $193.70 $0.00 $209.44 $37,444.65
132 $37,444.65 $193.70 $0.00 $211.72 $37,850.07
133 $37,850.07 $193.70 $0.00 $214.01 $38,257.78
134 $38,257.78 $193.70 $0.00 $216.32 $38,667.80
135 $38,667.80 $193.70 $0.00 $218.63 $39,080.13
136 $39,080.13 $193.70 $0.00 $220.96 $39,494.79
137 $39,494.79 $193.70 $0.00 $223.31 $39,911.80
138 $39,911.80 $193.70 $0.00 $225.67 $40,331.17
139 $40,331.17 $193.70 $0.00 $228.04 $40,752.91
140 $40,752.91 $193.70 $0.00 $230.42 $41,177.03
141 $41,177.03 $193.70 $0.00 $232.82 $41,603.55
142 $41,603.55 $193.70 $0.00 $235.23 $42,032.48
143 $42,032.48 $193.70 $0.00 $237.66 $42,463.84
144 $42,463.84 $193.70 $0.00 $240.10 $42,897.64
145 $42,897.64 $193.70 $0.00 $242.55 $43,333.89
146 $43,333.89 $193.70 $0.00 $245.02 $43,772.61
147 $43,772.61 $193.70 $0.00 $247.50 $44,213.81
148 $44,213.81 $193.70 $0.00 $249.99 $44,657.50
149 $44,657.50 $193.70 $0.00 $252.50 $45,103.70
150 $45,103.70 $193.70 $0.00 $255.02 $45,552.42
151 $45,552.42 $193.70 $0.00 $257.56 $46,003.68
152 $46,003.68 $193.70 $0.00 $260.11 $46,457.49
153 $46,457.49 $193.70 $0.00 $262.68 $46,913.87
154 $46,913.87 $193.70 $0.00 $265.26 $47,372.83
155 $47,372.83 $193.70 $0.00 $267.85 $47,834.38
156 $47,834.38 $193.70 $0.00 $270.46 $48,298.54
157 $48,298.54 $193.70 $0.00 $273.09 $48,765.33
158 $48,765.33 $193.70 $0.00 $275.73 $49,234.76
159 $49,234.76 $193.70 $0.00 $278.38 $49,706.84
160 $49,706.84 $193.70 $0.00 $281.05 $50,181.59
161 $50,181.59 $193.70 $0.00 $283.73 $50,659.02
162 $50,659.02 $193.70 $0.00 $286.43 $51,139.15
163 $51,139.15 $193.70 $0.00 $289.15 $51,622.00
164 $51,622.00 $193.70 $0.00 $291.88 $52,107.58
165 $52,107.58 $193.70 $0.00 $294.62 $52,595.90
166 $52,595.90 $193.70 $0.00 $297.38 $53,086.98
167 $53,086.98 $193.70 $0.00 $300.16 $53,580.84
168 $53,580.84 $193.70 $0.00 $302.95 $54,077.49
169 $54,077.49 $193.70 $0.00 $305.76 $54,576.95
170 $54,576.95 $193.70 $0.00 $308.59 $55,079.24
171 $55,079.24 $193.70 $0.00 $311.43 $55,584.37
172 $55,584.37 $193.70 $0.00 $314.28 $56,092.35
173 $56,092.35 $193.70 $0.00 $317.15 $56,603.20
174 $56,603.20 $193.70 $0.00 $320.04 $57,116.94
175 $57,116.94 $193.70 $0.00 $322.95 $57,633.59
176 $57,633.59 $193.70 $0.00 $325.87 $58,153.16
177 $58,153.16 $193.70 $0.00 $328.81 $58,675.67
178 $58,675.67 $193.70 $0.00 $331.76 $59,201.13
179 $59,201.13 $193.70 $0.00 $334.73 $59,729.56
180 $59,729.56 $193.70 $0.00 $337.72 $60,260.98
181 $60,260.98 $193.70 $0.00 $340.72 $60,795.40
182 $60,795.40 $193.70 $0.00 $343.75 $61,332.85
183 $61,332.85 $193.70 $0.00 $346.78 $61,873.33
184 $61,873.33 $193.70 $0.00 $349.84 $62,416.87
185 $62,416.87 $193.70 $0.00 $352.91 $62,963.48
186 $62,963.48 $193.70 $0.00 $356.00 $63,513.18
187 $63,513.18 $193.70 $0.00 $359.11 $64,065.99
188 $64,065.99 $193.70 $0.00 $362.24 $64,621.93
189 $64,621.93 $193.70 $0.00 $365.38 $65,181.01
190 $65,181.01 $193.70 $0.00 $368.54 $65,743.25
191 $65,743.25 $193.70 $0.00 $371.72 $66,308.67
192 $66,308.67 $193.70 $0.00 $374.92 $66,877.29
193 $66,877.29 $193.70 $0.00 $378.13 $67,449.12
194 $67,449.12 $193.70 $0.00 $381.37 $68,024.19
195 $68,024.19 $193.70 $0.00 $384.62 $68,602.51
196 $68,602.51 $193.70 $0.00 $387.89 $69,184.10
197 $69,184.10 $193.70 $0.00 $391.18 $69,768.98
198 $69,768.98 $193.70 $0.00 $394.48 $70,357.16
199 $70,357.16 $193.70 $0.00 $397.81 $70,948.67
200 $70,948.67 $193.70 $0.00 $401.15 $71,543.52
201 $71,543.52 $193.70 $0.00 $404.52 $72,141.74
202 $72,141.74 $193.70 $0.00 $407.90 $72,743.34
203 $72,743.34 $193.70 $0.00 $411.30 $73,348.34
204 $73,348.34 $193.70 $0.00 $414.72 $73,956.76
205 $73,956.76 $193.70 $0.00 $418.16 $74,568.62
206 $74,568.62 $193.70 $0.00 $421.62 $75,183.94
207 $75,183.94 $193.70 $0.00 $425.10 $75,802.74
208 $75,802.74 $193.70 $0.00 $428.60 $76,425.04
209 $76,425.04 $193.70 $0.00 $432.12 $77,050.86
210 $77,050.86 $193.70 $0.00 $435.66 $77,680.22
211 $77,680.22 $193.70 $0.00 $439.22 $78,313.14
212 $78,313.14 $193.70 $0.00 $442.79 $78,949.63
213 $78,949.63 $193.70 $0.00 $446.39 $79,589.72
214 $79,589.72 $193.70 $0.00 $450.01 $80,233.43
215 $80,233.43 $193.70 $0.00 $453.65 $80,880.78
216 $80,880.78 $193.70 $0.00 $457.31 $81,531.79
217 $81,531.79 $193.70 $42,520.15 $460.99 $39,666.33
218 $39,666.33 $193.70 $0.00 $224.28 $40,084.31
219 $40,084.31 $193.70 $0.00 $226.64 $40,504.65
220 $40,504.65 $193.70 $0.00 $229.02 $40,927.37
221 $40,927.37 $193.70 $0.00 $231.41 $41,352.48
222 $41,352.48 $193.70 $0.00 $233.81 $41,779.99
223 $41,779.99 $193.70 $0.00 $236.23 $42,209.92
224 $42,209.92 $193.70 $0.00 $238.66 $42,642.28
225 $42,642.28 $193.70 $0.00 $241.11 $43,077.09
226 $43,077.09 $193.70 $0.00 $243.56 $43,514.35
227 $43,514.35 $193.70 $0.00 $246.04 $43,954.09
228 $43,954.09 $193.70 $0.00 $248.52 $44,396.31
229 $44,396.31 $0.00 $44,646.16 $251.02 $1.17