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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$41,721
Monthly savings required$185

How much will it cost to send your child to Southwestern Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $83,441.46 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $185.43 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$16,913.00
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 $185.43 $0.00 $0.00 $185.43
2 $185.43 $185.43 $0.00 $1.05 $371.91
3 $371.91 $185.43 $0.00 $2.10 $559.44
4 $559.44 $185.43 $0.00 $3.16 $748.03
5 $748.03 $185.43 $0.00 $4.23 $937.69
6 $937.69 $185.43 $0.00 $5.30 $1,128.42
7 $1,128.42 $185.43 $0.00 $6.38 $1,320.23
8 $1,320.23 $185.43 $0.00 $7.46 $1,513.12
9 $1,513.12 $185.43 $0.00 $8.56 $1,707.11
10 $1,707.11 $185.43 $0.00 $9.65 $1,902.19
11 $1,902.19 $185.43 $0.00 $10.76 $2,098.38
12 $2,098.38 $185.43 $0.00 $11.86 $2,295.67
13 $2,295.67 $185.43 $0.00 $12.98 $2,494.08
14 $2,494.08 $185.43 $0.00 $14.10 $2,693.61
15 $2,693.61 $185.43 $0.00 $15.23 $2,894.27
16 $2,894.27 $185.43 $0.00 $16.36 $3,096.06
17 $3,096.06 $185.43 $0.00 $17.51 $3,299.00
18 $3,299.00 $185.43 $0.00 $18.65 $3,503.08
19 $3,503.08 $185.43 $0.00 $19.81 $3,708.32
20 $3,708.32 $185.43 $0.00 $20.97 $3,914.72
21 $3,914.72 $185.43 $0.00 $22.13 $4,122.28
22 $4,122.28 $185.43 $0.00 $23.31 $4,331.02
23 $4,331.02 $185.43 $0.00 $24.49 $4,540.94
24 $4,540.94 $185.43 $0.00 $25.68 $4,752.05
25 $4,752.05 $185.43 $0.00 $26.87 $4,964.35
26 $4,964.35 $185.43 $0.00 $28.07 $5,177.85
27 $5,177.85 $185.43 $0.00 $29.28 $5,392.56
28 $5,392.56 $185.43 $0.00 $30.49 $5,608.48
29 $5,608.48 $185.43 $0.00 $31.71 $5,825.62
30 $5,825.62 $185.43 $0.00 $32.94 $6,043.99
31 $6,043.99 $185.43 $0.00 $34.17 $6,263.59
32 $6,263.59 $185.43 $0.00 $35.42 $6,484.44
33 $6,484.44 $185.43 $0.00 $36.66 $6,706.53
34 $6,706.53 $185.43 $0.00 $37.92 $6,929.88
35 $6,929.88 $185.43 $0.00 $39.18 $7,154.49
36 $7,154.49 $185.43 $0.00 $40.45 $7,380.37
37 $7,380.37 $185.43 $0.00 $41.73 $7,607.53
38 $7,607.53 $185.43 $0.00 $43.01 $7,835.97
39 $7,835.97 $185.43 $0.00 $44.31 $8,065.71
40 $8,065.71 $185.43 $0.00 $45.60 $8,296.74
41 $8,296.74 $185.43 $0.00 $46.91 $8,529.08
42 $8,529.08 $185.43 $0.00 $48.22 $8,762.73
43 $8,762.73 $185.43 $0.00 $49.55 $8,997.71
44 $8,997.71 $185.43 $0.00 $50.87 $9,234.01
45 $9,234.01 $185.43 $0.00 $52.21 $9,471.65
46 $9,471.65 $185.43 $0.00 $53.55 $9,710.63
47 $9,710.63 $185.43 $0.00 $54.91 $9,950.97
48 $9,950.97 $185.43 $0.00 $56.26 $10,192.66
49 $10,192.66 $185.43 $0.00 $57.63 $10,435.72
50 $10,435.72 $185.43 $0.00 $59.01 $10,680.16
51 $10,680.16 $185.43 $0.00 $60.39 $10,925.98
52 $10,925.98 $185.43 $0.00 $61.78 $11,173.19
53 $11,173.19 $185.43 $0.00 $63.17 $11,421.79
54 $11,421.79 $185.43 $0.00 $64.58 $11,671.80
55 $11,671.80 $185.43 $0.00 $65.99 $11,923.22
56 $11,923.22 $185.43 $0.00 $67.42 $12,176.07
57 $12,176.07 $185.43 $0.00 $68.85 $12,430.35
58 $12,430.35 $185.43 $0.00 $70.28 $12,686.06
59 $12,686.06 $185.43 $0.00 $71.73 $12,943.22
60 $12,943.22 $185.43 $0.00 $73.18 $13,201.83
61 $13,201.83 $185.43 $0.00 $74.65 $13,461.91
62 $13,461.91 $185.43 $0.00 $76.12 $13,723.46
63 $13,723.46 $185.43 $0.00 $77.59 $13,986.48
64 $13,986.48 $185.43 $0.00 $79.08 $14,250.99
65 $14,250.99 $185.43 $0.00 $80.58 $14,517.00
66 $14,517.00 $185.43 $0.00 $82.08 $14,784.51
67 $14,784.51 $185.43 $0.00 $83.59 $15,053.53
68 $15,053.53 $185.43 $0.00 $85.11 $15,324.07
69 $15,324.07 $185.43 $0.00 $86.64 $15,596.14
70 $15,596.14 $185.43 $0.00 $88.18 $15,869.75
71 $15,869.75 $185.43 $0.00 $89.73 $16,144.91
72 $16,144.91 $185.43 $0.00 $91.29 $16,421.63
73 $16,421.63 $185.43 $0.00 $92.85 $16,699.91
74 $16,699.91 $185.43 $0.00 $94.42 $16,979.76
75 $16,979.76 $185.43 $0.00 $96.01 $17,261.20
76 $17,261.20 $185.43 $0.00 $97.60 $17,544.23
77 $17,544.23 $185.43 $0.00 $99.20 $17,828.86
78 $17,828.86 $185.43 $0.00 $100.81 $18,115.10
79 $18,115.10 $185.43 $0.00 $102.43 $18,402.96
80 $18,402.96 $185.43 $0.00 $104.05 $18,692.44
81 $18,692.44 $185.43 $0.00 $105.69 $18,983.56
82 $18,983.56 $185.43 $0.00 $107.34 $19,276.33
83 $19,276.33 $185.43 $0.00 $108.99 $19,570.75
84 $19,570.75 $185.43 $0.00 $110.66 $19,866.84
85 $19,866.84 $185.43 $0.00 $112.33 $20,164.60
86 $20,164.60 $185.43 $0.00 $114.01 $20,464.04
87 $20,464.04 $185.43 $0.00 $115.71 $20,765.18
88 $20,765.18 $185.43 $0.00 $117.41 $21,068.02
89 $21,068.02 $185.43 $0.00 $119.12 $21,372.57
90 $21,372.57 $185.43 $0.00 $120.84 $21,678.84
91 $21,678.84 $185.43 $0.00 $122.58 $21,986.85
92 $21,986.85 $185.43 $0.00 $124.32 $22,296.60
93 $22,296.60 $185.43 $0.00 $126.07 $22,608.10
94 $22,608.10 $185.43 $0.00 $127.83 $22,921.36
95 $22,921.36 $185.43 $0.00 $129.60 $23,236.39
96 $23,236.39 $185.43 $0.00 $131.38 $23,553.20
97 $23,553.20 $185.43 $0.00 $133.17 $23,871.80
98 $23,871.80 $185.43 $0.00 $134.97 $24,192.20
99 $24,192.20 $185.43 $0.00 $136.79 $24,514.42
100 $24,514.42 $185.43 $0.00 $138.61 $24,838.46
101 $24,838.46 $185.43 $0.00 $140.44 $25,164.33
102 $25,164.33 $185.43 $0.00 $142.28 $25,492.04
103 $25,492.04 $185.43 $0.00 $144.14 $25,821.61
104 $25,821.61 $185.43 $0.00 $146.00 $26,153.04
105 $26,153.04 $185.43 $0.00 $147.87 $26,486.34
106 $26,486.34 $185.43 $0.00 $149.76 $26,821.53
107 $26,821.53 $185.43 $0.00 $151.65 $27,158.61
108 $27,158.61 $185.43 $0.00 $153.56 $27,497.60
109 $27,497.60 $185.43 $0.00 $155.48 $27,838.51
110 $27,838.51 $185.43 $0.00 $157.40 $28,181.34
111 $28,181.34 $185.43 $0.00 $159.34 $28,526.11
112 $28,526.11 $185.43 $0.00 $161.29 $28,872.83
113 $28,872.83 $185.43 $0.00 $163.25 $29,221.51
114 $29,221.51 $185.43 $0.00 $165.22 $29,572.16
115 $29,572.16 $185.43 $0.00 $167.21 $29,924.80
116 $29,924.80 $185.43 $0.00 $169.20 $30,279.43
117 $30,279.43 $185.43 $0.00 $171.20 $30,636.06
118 $30,636.06 $185.43 $0.00 $173.22 $30,994.71
119 $30,994.71 $185.43 $0.00 $175.25 $31,355.39
120 $31,355.39 $185.43 $0.00 $177.29 $31,718.11
121 $31,718.11 $185.43 $0.00 $179.34 $32,082.88
122 $32,082.88 $185.43 $0.00 $181.40 $32,449.71
123 $32,449.71 $185.43 $0.00 $183.48 $32,818.62
124 $32,818.62 $185.43 $0.00 $185.56 $33,189.61
125 $33,189.61 $185.43 $0.00 $187.66 $33,562.70
126 $33,562.70 $185.43 $0.00 $189.77 $33,937.90
127 $33,937.90 $185.43 $0.00 $191.89 $34,315.22
128 $34,315.22 $185.43 $0.00 $194.02 $34,694.67
129 $34,694.67 $185.43 $0.00 $196.17 $35,076.27
130 $35,076.27 $185.43 $0.00 $198.33 $35,460.03
131 $35,460.03 $185.43 $0.00 $200.50 $35,845.96
132 $35,845.96 $185.43 $0.00 $202.68 $36,234.07
133 $36,234.07 $185.43 $0.00 $204.87 $36,624.37
134 $36,624.37 $185.43 $0.00 $207.08 $37,016.88
135 $37,016.88 $185.43 $0.00 $209.30 $37,411.61
136 $37,411.61 $185.43 $0.00 $211.53 $37,808.57
137 $37,808.57 $185.43 $0.00 $213.78 $38,207.78
138 $38,207.78 $185.43 $0.00 $216.03 $38,609.24
139 $38,609.24 $185.43 $0.00 $218.30 $39,012.97
140 $39,012.97 $185.43 $0.00 $220.59 $39,418.99
141 $39,418.99 $185.43 $0.00 $222.88 $39,827.30
142 $39,827.30 $185.43 $0.00 $225.19 $40,237.92
143 $40,237.92 $185.43 $0.00 $227.51 $40,650.86
144 $40,650.86 $185.43 $0.00 $229.85 $41,066.14
145 $41,066.14 $185.43 $0.00 $232.19 $41,483.76
146 $41,483.76 $185.43 $0.00 $234.56 $41,903.75
147 $41,903.75 $185.43 $0.00 $236.93 $42,326.11
148 $42,326.11 $185.43 $0.00 $239.32 $42,750.86
149 $42,750.86 $185.43 $0.00 $241.72 $43,178.01
150 $43,178.01 $185.43 $0.00 $244.13 $43,607.57
151 $43,607.57 $185.43 $0.00 $246.56 $44,039.56
152 $44,039.56 $185.43 $0.00 $249.01 $44,474.00
153 $44,474.00 $185.43 $0.00 $251.46 $44,910.89
154 $44,910.89 $185.43 $0.00 $253.93 $45,350.25
155 $45,350.25 $185.43 $0.00 $256.42 $45,792.10
156 $45,792.10 $185.43 $0.00 $258.92 $46,236.45
157 $46,236.45 $185.43 $0.00 $261.43 $46,683.31
158 $46,683.31 $185.43 $0.00 $263.95 $47,132.69
159 $47,132.69 $185.43 $0.00 $266.50 $47,584.62
160 $47,584.62 $185.43 $0.00 $269.05 $48,039.10
161 $48,039.10 $185.43 $0.00 $271.62 $48,496.15
162 $48,496.15 $185.43 $0.00 $274.20 $48,955.78
163 $48,955.78 $185.43 $0.00 $276.80 $49,418.01
164 $49,418.01 $185.43 $0.00 $279.42 $49,882.86
165 $49,882.86 $185.43 $0.00 $282.04 $50,350.33
166 $50,350.33 $185.43 $0.00 $284.69 $50,820.45
167 $50,820.45 $185.43 $0.00 $287.35 $51,293.23
168 $51,293.23 $185.43 $0.00 $290.02 $51,768.68
169 $51,768.68 $185.43 $0.00 $292.71 $52,246.82
170 $52,246.82 $185.43 $0.00 $295.41 $52,727.66
171 $52,727.66 $185.43 $0.00 $298.13 $53,211.22
172 $53,211.22 $185.43 $0.00 $300.86 $53,697.51
173 $53,697.51 $185.43 $0.00 $303.61 $54,186.55
174 $54,186.55 $185.43 $0.00 $306.38 $54,678.36
175 $54,678.36 $185.43 $0.00 $309.16 $55,172.95
176 $55,172.95 $185.43 $0.00 $311.96 $55,670.34
177 $55,670.34 $185.43 $0.00 $314.77 $56,170.54
178 $56,170.54 $185.43 $0.00 $317.60 $56,673.57
179 $56,673.57 $185.43 $0.00 $320.44 $57,179.44
180 $57,179.44 $185.43 $0.00 $323.30 $57,688.17
181 $57,688.17 $185.43 $0.00 $326.18 $58,199.78
182 $58,199.78 $185.43 $0.00 $329.07 $58,714.28
183 $58,714.28 $185.43 $0.00 $331.98 $59,231.69
184 $59,231.69 $185.43 $0.00 $334.90 $59,752.02
185 $59,752.02 $185.43 $0.00 $337.85 $60,275.30
186 $60,275.30 $185.43 $0.00 $340.81 $60,801.54
187 $60,801.54 $185.43 $0.00 $343.78 $61,330.75
188 $61,330.75 $185.43 $0.00 $346.77 $61,862.95
189 $61,862.95 $185.43 $0.00 $349.78 $62,398.16
190 $62,398.16 $185.43 $0.00 $352.81 $62,936.40
191 $62,936.40 $185.43 $0.00 $355.85 $63,477.68
192 $63,477.68 $185.43 $0.00 $358.91 $64,022.02
193 $64,022.02 $185.43 $0.00 $361.99 $64,569.44
194 $64,569.44 $185.43 $0.00 $365.09 $65,119.96
195 $65,119.96 $185.43 $0.00 $368.20 $65,673.59
196 $65,673.59 $185.43 $0.00 $371.33 $66,230.35
197 $66,230.35 $185.43 $0.00 $374.48 $66,790.26
198 $66,790.26 $185.43 $0.00 $377.64 $67,353.33
199 $67,353.33 $185.43 $0.00 $380.83 $67,919.59
200 $67,919.59 $185.43 $0.00 $384.03 $68,489.05
201 $68,489.05 $185.43 $0.00 $387.25 $69,061.73
202 $69,061.73 $185.43 $0.00 $390.49 $69,637.65
203 $69,637.65 $185.43 $0.00 $393.74 $70,216.82
204 $70,216.82 $185.43 $0.00 $397.02 $70,799.27
205 $70,799.27 $185.43 $0.00 $400.31 $71,385.01
206 $71,385.01 $185.43 $0.00 $403.62 $71,974.06
207 $71,974.06 $185.43 $0.00 $406.95 $72,566.44
208 $72,566.44 $185.43 $0.00 $410.30 $73,162.17
209 $73,162.17 $185.43 $0.00 $413.67 $73,761.27
210 $73,761.27 $185.43 $0.00 $417.06 $74,363.76
211 $74,363.76 $185.43 $0.00 $420.46 $74,969.65
212 $74,969.65 $185.43 $0.00 $423.89 $75,578.97
213 $75,578.97 $185.43 $0.00 $427.33 $76,191.73
214 $76,191.73 $185.43 $0.00 $430.80 $76,807.96
215 $76,807.96 $185.43 $0.00 $434.28 $77,427.67
216 $77,427.67 $185.43 $0.00 $437.79 $78,050.89
217 $78,050.89 $185.43 $40,703.15 $441.31 $37,974.48
218 $37,974.48 $185.43 $0.00 $214.71 $38,374.62
219 $38,374.62 $185.43 $0.00 $216.98 $38,777.03
220 $38,777.03 $185.43 $0.00 $219.25 $39,181.71
221 $39,181.71 $185.43 $0.00 $221.54 $39,588.68
222 $39,588.68 $185.43 $0.00 $223.84 $39,997.95
223 $39,997.95 $185.43 $0.00 $226.15 $40,409.53
224 $40,409.53 $185.43 $0.00 $228.48 $40,823.44
225 $40,823.44 $185.43 $0.00 $230.82 $41,239.69
226 $41,239.69 $185.43 $0.00 $233.18 $41,658.30
227 $41,658.30 $185.43 $0.00 $235.54 $42,079.27
228 $42,079.27 $185.43 $0.00 $237.92 $42,502.62
229 $42,502.62 $0.00 $42,738.31 $240.32 $4.63