Savings Plan and Future Cost Estimation for Richmond Community College

How much will it cost and what do you need to save?

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$37,140
Monthly savings required$165

How much will it cost to send your child to Richmond Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $74,279.82 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $165.06 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$15,056.00
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 $165.06 $0.00 $0.00 $165.06
2 $165.06 $165.06 $0.00 $0.93 $331.05
3 $331.05 $165.06 $0.00 $1.87 $497.98
4 $497.98 $165.06 $0.00 $2.82 $665.86
5 $665.86 $165.06 $0.00 $3.76 $834.68
6 $834.68 $165.06 $0.00 $4.72 $1,004.46
7 $1,004.46 $165.06 $0.00 $5.68 $1,175.20
8 $1,175.20 $165.06 $0.00 $6.64 $1,346.90
9 $1,346.90 $165.06 $0.00 $7.62 $1,519.58
10 $1,519.58 $165.06 $0.00 $8.59 $1,693.23
11 $1,693.23 $165.06 $0.00 $9.57 $1,867.86
12 $1,867.86 $165.06 $0.00 $10.56 $2,043.48
13 $2,043.48 $165.06 $0.00 $11.55 $2,220.09
14 $2,220.09 $165.06 $0.00 $12.55 $2,397.70
15 $2,397.70 $165.06 $0.00 $13.56 $2,576.32
16 $2,576.32 $165.06 $0.00 $14.57 $2,755.95
17 $2,755.95 $165.06 $0.00 $15.58 $2,936.59
18 $2,936.59 $165.06 $0.00 $16.60 $3,118.25
19 $3,118.25 $165.06 $0.00 $17.63 $3,300.94
20 $3,300.94 $165.06 $0.00 $18.66 $3,484.66
21 $3,484.66 $165.06 $0.00 $19.70 $3,669.42
22 $3,669.42 $165.06 $0.00 $20.75 $3,855.23
23 $3,855.23 $165.06 $0.00 $21.80 $4,042.09
24 $4,042.09 $165.06 $0.00 $22.85 $4,230.00
25 $4,230.00 $165.06 $0.00 $23.92 $4,418.98
26 $4,418.98 $165.06 $0.00 $24.99 $4,609.03
27 $4,609.03 $165.06 $0.00 $26.06 $4,800.15
28 $4,800.15 $165.06 $0.00 $27.14 $4,992.35
29 $4,992.35 $165.06 $0.00 $28.23 $5,185.64
30 $5,185.64 $165.06 $0.00 $29.32 $5,380.02
31 $5,380.02 $165.06 $0.00 $30.42 $5,575.50
32 $5,575.50 $165.06 $0.00 $31.52 $5,772.08
33 $5,772.08 $165.06 $0.00 $32.64 $5,969.78
34 $5,969.78 $165.06 $0.00 $33.75 $6,168.59
35 $6,168.59 $165.06 $0.00 $34.88 $6,368.53
36 $6,368.53 $165.06 $0.00 $36.01 $6,569.60
37 $6,569.60 $165.06 $0.00 $37.15 $6,771.81
38 $6,771.81 $165.06 $0.00 $38.29 $6,975.16
39 $6,975.16 $165.06 $0.00 $39.44 $7,179.66
40 $7,179.66 $165.06 $0.00 $40.59 $7,385.31
41 $7,385.31 $165.06 $0.00 $41.76 $7,592.13
42 $7,592.13 $165.06 $0.00 $42.93 $7,800.12
43 $7,800.12 $165.06 $0.00 $44.10 $8,009.28
44 $8,009.28 $165.06 $0.00 $45.29 $8,219.63
45 $8,219.63 $165.06 $0.00 $46.47 $8,431.16
46 $8,431.16 $165.06 $0.00 $47.67 $8,643.89
47 $8,643.89 $165.06 $0.00 $48.87 $8,857.82
48 $8,857.82 $165.06 $0.00 $50.08 $9,072.96
49 $9,072.96 $165.06 $0.00 $51.30 $9,289.32
50 $9,289.32 $165.06 $0.00 $52.52 $9,506.90
51 $9,506.90 $165.06 $0.00 $53.75 $9,725.71
52 $9,725.71 $165.06 $0.00 $54.99 $9,945.76
53 $9,945.76 $165.06 $0.00 $56.23 $10,167.05
54 $10,167.05 $165.06 $0.00 $57.49 $10,389.60
55 $10,389.60 $165.06 $0.00 $58.74 $10,613.40
56 $10,613.40 $165.06 $0.00 $60.01 $10,838.47
57 $10,838.47 $165.06 $0.00 $61.28 $11,064.81
58 $11,064.81 $165.06 $0.00 $62.56 $11,292.43
59 $11,292.43 $165.06 $0.00 $63.85 $11,521.34
60 $11,521.34 $165.06 $0.00 $65.14 $11,751.54
61 $11,751.54 $165.06 $0.00 $66.44 $11,983.04
62 $11,983.04 $165.06 $0.00 $67.75 $12,215.85
63 $12,215.85 $165.06 $0.00 $69.07 $12,449.98
64 $12,449.98 $165.06 $0.00 $70.39 $12,685.43
65 $12,685.43 $165.06 $0.00 $71.73 $12,922.22
66 $12,922.22 $165.06 $0.00 $73.06 $13,160.34
67 $13,160.34 $165.06 $0.00 $74.41 $13,399.81
68 $13,399.81 $165.06 $0.00 $75.76 $13,640.63
69 $13,640.63 $165.06 $0.00 $77.13 $13,882.82
70 $13,882.82 $165.06 $0.00 $78.50 $14,126.38
71 $14,126.38 $165.06 $0.00 $79.87 $14,371.31
72 $14,371.31 $165.06 $0.00 $81.26 $14,617.63
73 $14,617.63 $165.06 $0.00 $82.65 $14,865.34
74 $14,865.34 $165.06 $0.00 $84.05 $15,114.45
75 $15,114.45 $165.06 $0.00 $85.46 $15,364.97
76 $15,364.97 $165.06 $0.00 $86.88 $15,616.91
77 $15,616.91 $165.06 $0.00 $88.30 $15,870.27
78 $15,870.27 $165.06 $0.00 $89.73 $16,125.06
79 $16,125.06 $165.06 $0.00 $91.17 $16,381.29
80 $16,381.29 $165.06 $0.00 $92.62 $16,638.97
81 $16,638.97 $165.06 $0.00 $94.08 $16,898.11
82 $16,898.11 $165.06 $0.00 $95.54 $17,158.71
83 $17,158.71 $165.06 $0.00 $97.02 $17,420.79
84 $17,420.79 $165.06 $0.00 $98.50 $17,684.35
85 $17,684.35 $165.06 $0.00 $99.99 $17,949.40
86 $17,949.40 $165.06 $0.00 $101.49 $18,215.95
87 $18,215.95 $165.06 $0.00 $103.00 $18,484.01
88 $18,484.01 $165.06 $0.00 $104.51 $18,753.58
89 $18,753.58 $165.06 $0.00 $106.04 $19,024.68
90 $19,024.68 $165.06 $0.00 $107.57 $19,297.31
91 $19,297.31 $165.06 $0.00 $109.11 $19,571.48
92 $19,571.48 $165.06 $0.00 $110.66 $19,847.20
93 $19,847.20 $165.06 $0.00 $112.22 $20,124.48
94 $20,124.48 $165.06 $0.00 $113.79 $20,403.33
95 $20,403.33 $165.06 $0.00 $115.36 $20,683.75
96 $20,683.75 $165.06 $0.00 $116.95 $20,965.76
97 $20,965.76 $165.06 $0.00 $118.54 $21,249.36
98 $21,249.36 $165.06 $0.00 $120.15 $21,534.57
99 $21,534.57 $165.06 $0.00 $121.76 $21,821.39
100 $21,821.39 $165.06 $0.00 $123.38 $22,109.83
101 $22,109.83 $165.06 $0.00 $125.01 $22,399.90
102 $22,399.90 $165.06 $0.00 $126.65 $22,691.61
103 $22,691.61 $165.06 $0.00 $128.30 $22,984.97
104 $22,984.97 $165.06 $0.00 $129.96 $23,279.99
105 $23,279.99 $165.06 $0.00 $131.63 $23,576.68
106 $23,576.68 $165.06 $0.00 $133.31 $23,875.05
107 $23,875.05 $165.06 $0.00 $134.99 $24,175.10
108 $24,175.10 $165.06 $0.00 $136.69 $24,476.85
109 $24,476.85 $165.06 $0.00 $138.40 $24,780.31
110 $24,780.31 $165.06 $0.00 $140.11 $25,085.48
111 $25,085.48 $165.06 $0.00 $141.84 $25,392.38
112 $25,392.38 $165.06 $0.00 $143.57 $25,701.01
113 $25,701.01 $165.06 $0.00 $145.32 $26,011.39
114 $26,011.39 $165.06 $0.00 $147.07 $26,323.52
115 $26,323.52 $165.06 $0.00 $148.84 $26,637.42
116 $26,637.42 $165.06 $0.00 $150.61 $26,953.09
117 $26,953.09 $165.06 $0.00 $152.40 $27,270.55
118 $27,270.55 $165.06 $0.00 $154.19 $27,589.80
119 $27,589.80 $165.06 $0.00 $156.00 $27,910.86
120 $27,910.86 $165.06 $0.00 $157.81 $28,233.73
121 $28,233.73 $165.06 $0.00 $159.64 $28,558.43
122 $28,558.43 $165.06 $0.00 $161.47 $28,884.96
123 $28,884.96 $165.06 $0.00 $163.32 $29,213.34
124 $29,213.34 $165.06 $0.00 $165.18 $29,543.58
125 $29,543.58 $165.06 $0.00 $167.04 $29,875.68
126 $29,875.68 $165.06 $0.00 $168.92 $30,209.66
127 $30,209.66 $165.06 $0.00 $170.81 $30,545.53
128 $30,545.53 $165.06 $0.00 $172.71 $30,883.30
129 $30,883.30 $165.06 $0.00 $174.62 $31,222.98
130 $31,222.98 $165.06 $0.00 $176.54 $31,564.58
131 $31,564.58 $165.06 $0.00 $178.47 $31,908.11
132 $31,908.11 $165.06 $0.00 $180.41 $32,253.58
133 $32,253.58 $165.06 $0.00 $182.37 $32,601.01
134 $32,601.01 $165.06 $0.00 $184.33 $32,950.40
135 $32,950.40 $165.06 $0.00 $186.31 $33,301.77
136 $33,301.77 $165.06 $0.00 $188.29 $33,655.12
137 $33,655.12 $165.06 $0.00 $190.29 $34,010.47
138 $34,010.47 $165.06 $0.00 $192.30 $34,367.83
139 $34,367.83 $165.06 $0.00 $194.32 $34,727.21
140 $34,727.21 $165.06 $0.00 $196.35 $35,088.62
141 $35,088.62 $165.06 $0.00 $198.40 $35,452.08
142 $35,452.08 $165.06 $0.00 $200.45 $35,817.59
143 $35,817.59 $165.06 $0.00 $202.52 $36,185.17
144 $36,185.17 $165.06 $0.00 $204.60 $36,554.83
145 $36,554.83 $165.06 $0.00 $206.69 $36,926.58
146 $36,926.58 $165.06 $0.00 $208.79 $37,300.43
147 $37,300.43 $165.06 $0.00 $210.90 $37,676.39
148 $37,676.39 $165.06 $0.00 $213.03 $38,054.48
149 $38,054.48 $165.06 $0.00 $215.17 $38,434.71
150 $38,434.71 $165.06 $0.00 $217.32 $38,817.09
151 $38,817.09 $165.06 $0.00 $219.48 $39,201.63
152 $39,201.63 $165.06 $0.00 $221.65 $39,588.34
153 $39,588.34 $165.06 $0.00 $223.84 $39,977.24
154 $39,977.24 $165.06 $0.00 $226.04 $40,368.34
155 $40,368.34 $165.06 $0.00 $228.25 $40,761.65
156 $40,761.65 $165.06 $0.00 $230.47 $41,157.18
157 $41,157.18 $165.06 $0.00 $232.71 $41,554.95
158 $41,554.95 $165.06 $0.00 $234.96 $41,954.97
159 $41,954.97 $165.06 $0.00 $237.22 $42,357.25
160 $42,357.25 $165.06 $0.00 $239.49 $42,761.80
161 $42,761.80 $165.06 $0.00 $241.78 $43,168.64
162 $43,168.64 $165.06 $0.00 $244.08 $43,577.78
163 $43,577.78 $165.06 $0.00 $246.40 $43,989.24
164 $43,989.24 $165.06 $0.00 $248.72 $44,403.02
165 $44,403.02 $165.06 $0.00 $251.06 $44,819.14
166 $44,819.14 $165.06 $0.00 $253.41 $45,237.61
167 $45,237.61 $165.06 $0.00 $255.78 $45,658.45
168 $45,658.45 $165.06 $0.00 $258.16 $46,081.67
169 $46,081.67 $165.06 $0.00 $260.55 $46,507.28
170 $46,507.28 $165.06 $0.00 $262.96 $46,935.30
171 $46,935.30 $165.06 $0.00 $265.38 $47,365.74
172 $47,365.74 $165.06 $0.00 $267.81 $47,798.61
173 $47,798.61 $165.06 $0.00 $270.26 $48,233.93
174 $48,233.93 $165.06 $0.00 $272.72 $48,671.71
175 $48,671.71 $165.06 $0.00 $275.20 $49,111.97
176 $49,111.97 $165.06 $0.00 $277.69 $49,554.72
177 $49,554.72 $165.06 $0.00 $280.19 $49,999.97
178 $49,999.97 $165.06 $0.00 $282.71 $50,447.74
179 $50,447.74 $165.06 $0.00 $285.24 $50,898.04
180 $50,898.04 $165.06 $0.00 $287.78 $51,350.88
181 $51,350.88 $165.06 $0.00 $290.35 $51,806.29
182 $51,806.29 $165.06 $0.00 $292.92 $52,264.27
183 $52,264.27 $165.06 $0.00 $295.51 $52,724.84
184 $52,724.84 $165.06 $0.00 $298.11 $53,188.01
185 $53,188.01 $165.06 $0.00 $300.73 $53,653.80
186 $53,653.80 $165.06 $0.00 $303.37 $54,122.23
187 $54,122.23 $165.06 $0.00 $306.01 $54,593.30
188 $54,593.30 $165.06 $0.00 $308.68 $55,067.04
189 $55,067.04 $165.06 $0.00 $311.36 $55,543.46
190 $55,543.46 $165.06 $0.00 $314.05 $56,022.57
191 $56,022.57 $165.06 $0.00 $316.76 $56,504.39
192 $56,504.39 $165.06 $0.00 $319.48 $56,988.93
193 $56,988.93 $165.06 $0.00 $322.22 $57,476.21
194 $57,476.21 $165.06 $0.00 $324.98 $57,966.25
195 $57,966.25 $165.06 $0.00 $327.75 $58,459.06
196 $58,459.06 $165.06 $0.00 $330.54 $58,954.66
197 $58,954.66 $165.06 $0.00 $333.34 $59,453.06
198 $59,453.06 $165.06 $0.00 $336.16 $59,954.28
199 $59,954.28 $165.06 $0.00 $338.99 $60,458.33
200 $60,458.33 $165.06 $0.00 $341.84 $60,965.23
201 $60,965.23 $165.06 $0.00 $344.71 $61,475.00
202 $61,475.00 $165.06 $0.00 $347.59 $61,987.65
203 $61,987.65 $165.06 $0.00 $350.49 $62,503.20
204 $62,503.20 $165.06 $0.00 $353.40 $63,021.66
205 $63,021.66 $165.06 $0.00 $356.33 $63,543.05
206 $63,543.05 $165.06 $0.00 $359.28 $64,067.39
207 $64,067.39 $165.06 $0.00 $362.25 $64,594.70
208 $64,594.70 $165.06 $0.00 $365.23 $65,124.99
209 $65,124.99 $165.06 $0.00 $368.23 $65,658.28
210 $65,658.28 $165.06 $0.00 $371.24 $66,194.58
211 $66,194.58 $165.06 $0.00 $374.27 $66,733.91
212 $66,733.91 $165.06 $0.00 $377.32 $67,276.29
213 $67,276.29 $165.06 $0.00 $380.39 $67,821.74
214 $67,821.74 $165.06 $0.00 $383.47 $68,370.27
215 $68,370.27 $165.06 $0.00 $386.58 $68,921.91
216 $68,921.91 $165.06 $0.00 $389.69 $69,476.66
217 $69,476.66 $165.06 $36,234.06 $392.83 $33,800.49
218 $33,800.49 $165.06 $0.00 $191.11 $34,156.66
219 $34,156.66 $165.06 $0.00 $193.13 $34,514.85
220 $34,514.85 $165.06 $0.00 $195.15 $34,875.06
221 $34,875.06 $165.06 $0.00 $197.19 $35,237.31
222 $35,237.31 $165.06 $0.00 $199.24 $35,601.61
223 $35,601.61 $165.06 $0.00 $201.30 $35,967.97
224 $35,967.97 $165.06 $0.00 $203.37 $36,336.40
225 $36,336.40 $165.06 $0.00 $205.45 $36,706.91
226 $36,706.91 $165.06 $0.00 $207.55 $37,079.52
227 $37,079.52 $165.06 $0.00 $209.65 $37,454.23
228 $37,454.23 $165.06 $0.00 $211.77 $37,831.06
229 $37,831.06 $0.00 $38,045.76 $213.90 ($0.80)