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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$41,718
Monthly savings required$185

How much will it cost to send your child to Central Ohio Technical College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $83,436.53 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $185.41 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$16,912.00
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 $185.41 $0.00 $0.00 $185.41
2 $185.41 $185.41 $0.00 $1.05 $371.87
3 $371.87 $185.41 $0.00 $2.10 $559.38
4 $559.38 $185.41 $0.00 $3.16 $747.95
5 $747.95 $185.41 $0.00 $4.23 $937.59
6 $937.59 $185.41 $0.00 $5.30 $1,128.30
7 $1,128.30 $185.41 $0.00 $6.38 $1,320.09
8 $1,320.09 $185.41 $0.00 $7.46 $1,512.96
9 $1,512.96 $185.41 $0.00 $8.55 $1,706.92
10 $1,706.92 $185.41 $0.00 $9.65 $1,901.98
11 $1,901.98 $185.41 $0.00 $10.75 $2,098.14
12 $2,098.14 $185.41 $0.00 $11.86 $2,295.41
13 $2,295.41 $185.41 $0.00 $12.98 $2,493.80
14 $2,493.80 $185.41 $0.00 $14.10 $2,693.31
15 $2,693.31 $185.41 $0.00 $15.23 $2,893.95
16 $2,893.95 $185.41 $0.00 $16.36 $3,095.72
17 $3,095.72 $185.41 $0.00 $17.50 $3,298.63
18 $3,298.63 $185.41 $0.00 $18.65 $3,502.69
19 $3,502.69 $185.41 $0.00 $19.80 $3,707.90
20 $3,707.90 $185.41 $0.00 $20.97 $3,914.28
21 $3,914.28 $185.41 $0.00 $22.13 $4,121.82
22 $4,121.82 $185.41 $0.00 $23.31 $4,330.54
23 $4,330.54 $185.41 $0.00 $24.49 $4,540.44
24 $4,540.44 $185.41 $0.00 $25.67 $4,751.52
25 $4,751.52 $185.41 $0.00 $26.87 $4,963.80
26 $4,963.80 $185.41 $0.00 $28.07 $5,177.28
27 $5,177.28 $185.41 $0.00 $29.27 $5,391.96
28 $5,391.96 $185.41 $0.00 $30.49 $5,607.86
29 $5,607.86 $185.41 $0.00 $31.71 $5,824.98
30 $5,824.98 $185.41 $0.00 $32.94 $6,043.33
31 $6,043.33 $185.41 $0.00 $34.17 $6,262.91
32 $6,262.91 $185.41 $0.00 $35.41 $6,483.73
33 $6,483.73 $185.41 $0.00 $36.66 $6,705.80
34 $6,705.80 $185.41 $0.00 $37.92 $6,929.13
35 $6,929.13 $185.41 $0.00 $39.18 $7,153.72
36 $7,153.72 $185.41 $0.00 $40.45 $7,379.58
37 $7,379.58 $185.41 $0.00 $41.73 $7,606.72
38 $7,606.72 $185.41 $0.00 $43.01 $7,835.14
39 $7,835.14 $185.41 $0.00 $44.30 $8,064.85
40 $8,064.85 $185.41 $0.00 $45.60 $8,295.86
41 $8,295.86 $185.41 $0.00 $46.91 $8,528.18
42 $8,528.18 $185.41 $0.00 $48.22 $8,761.81
43 $8,761.81 $185.41 $0.00 $49.54 $8,996.76
44 $8,996.76 $185.41 $0.00 $50.87 $9,233.04
45 $9,233.04 $185.41 $0.00 $52.20 $9,470.65
46 $9,470.65 $185.41 $0.00 $53.55 $9,709.61
47 $9,709.61 $185.41 $0.00 $54.90 $9,949.92
48 $9,949.92 $185.41 $0.00 $56.26 $10,191.59
49 $10,191.59 $185.41 $0.00 $57.62 $10,434.62
50 $10,434.62 $185.41 $0.00 $59.00 $10,679.03
51 $10,679.03 $185.41 $0.00 $60.38 $10,924.82
52 $10,924.82 $185.41 $0.00 $61.77 $11,172.00
53 $11,172.00 $185.41 $0.00 $63.17 $11,420.58
54 $11,420.58 $185.41 $0.00 $64.57 $11,670.56
55 $11,670.56 $185.41 $0.00 $65.99 $11,921.96
56 $11,921.96 $185.41 $0.00 $67.41 $12,174.78
57 $12,174.78 $185.41 $0.00 $68.84 $12,429.03
58 $12,429.03 $185.41 $0.00 $70.28 $12,684.72
59 $12,684.72 $185.41 $0.00 $71.72 $12,941.85
60 $12,941.85 $185.41 $0.00 $73.18 $13,200.44
61 $13,200.44 $185.41 $0.00 $74.64 $13,460.49
62 $13,460.49 $185.41 $0.00 $76.11 $13,722.01
63 $13,722.01 $185.41 $0.00 $77.59 $13,985.01
64 $13,985.01 $185.41 $0.00 $79.07 $14,249.49
65 $14,249.49 $185.41 $0.00 $80.57 $14,515.47
66 $14,515.47 $185.41 $0.00 $82.07 $14,782.95
67 $14,782.95 $185.41 $0.00 $83.58 $15,051.94
68 $15,051.94 $185.41 $0.00 $85.11 $15,322.46
69 $15,322.46 $185.41 $0.00 $86.64 $15,594.51
70 $15,594.51 $185.41 $0.00 $88.17 $15,868.09
71 $15,868.09 $185.41 $0.00 $89.72 $16,143.22
72 $16,143.22 $185.41 $0.00 $91.28 $16,419.91
73 $16,419.91 $185.41 $0.00 $92.84 $16,698.16
74 $16,698.16 $185.41 $0.00 $94.41 $16,977.98
75 $16,977.98 $185.41 $0.00 $96.00 $17,259.39
76 $17,259.39 $185.41 $0.00 $97.59 $17,542.39
77 $17,542.39 $185.41 $0.00 $99.19 $17,826.99
78 $17,826.99 $185.41 $0.00 $100.80 $18,113.20
79 $18,113.20 $185.41 $0.00 $102.41 $18,401.02
80 $18,401.02 $185.41 $0.00 $104.04 $18,690.47
81 $18,690.47 $185.41 $0.00 $105.68 $18,981.56
82 $18,981.56 $185.41 $0.00 $107.32 $19,274.29
83 $19,274.29 $185.41 $0.00 $108.98 $19,568.68
84 $19,568.68 $185.41 $0.00 $110.64 $19,864.73
85 $19,864.73 $185.41 $0.00 $112.32 $20,162.46
86 $20,162.46 $185.41 $0.00 $114.00 $20,461.87
87 $20,461.87 $185.41 $0.00 $115.69 $20,762.97
88 $20,762.97 $185.41 $0.00 $117.40 $21,065.78
89 $21,065.78 $185.41 $0.00 $119.11 $21,370.30
90 $21,370.30 $185.41 $0.00 $120.83 $21,676.54
91 $21,676.54 $185.41 $0.00 $122.56 $21,984.51
92 $21,984.51 $185.41 $0.00 $124.30 $22,294.22
93 $22,294.22 $185.41 $0.00 $126.05 $22,605.68
94 $22,605.68 $185.41 $0.00 $127.82 $22,918.91
95 $22,918.91 $185.41 $0.00 $129.59 $23,233.91
96 $23,233.91 $185.41 $0.00 $131.37 $23,550.69
97 $23,550.69 $185.41 $0.00 $133.16 $23,869.26
98 $23,869.26 $185.41 $0.00 $134.96 $24,189.63
99 $24,189.63 $185.41 $0.00 $136.77 $24,511.81
100 $24,511.81 $185.41 $0.00 $138.59 $24,835.81
101 $24,835.81 $185.41 $0.00 $140.43 $25,161.65
102 $25,161.65 $185.41 $0.00 $142.27 $25,489.33
103 $25,489.33 $185.41 $0.00 $144.12 $25,818.86
104 $25,818.86 $185.41 $0.00 $145.98 $26,150.25
105 $26,150.25 $185.41 $0.00 $147.86 $26,483.52
106 $26,483.52 $185.41 $0.00 $149.74 $26,818.67
107 $26,818.67 $185.41 $0.00 $151.64 $27,155.72
108 $27,155.72 $185.41 $0.00 $153.54 $27,494.67
109 $27,494.67 $185.41 $0.00 $155.46 $27,835.54
110 $27,835.54 $185.41 $0.00 $157.39 $28,178.34
111 $28,178.34 $185.41 $0.00 $159.32 $28,523.07
112 $28,523.07 $185.41 $0.00 $161.27 $28,869.75
113 $28,869.75 $185.41 $0.00 $163.23 $29,218.39
114 $29,218.39 $185.41 $0.00 $165.21 $29,569.01
115 $29,569.01 $185.41 $0.00 $167.19 $29,921.61
116 $29,921.61 $185.41 $0.00 $169.18 $30,276.20
117 $30,276.20 $185.41 $0.00 $171.19 $30,632.80
118 $30,632.80 $185.41 $0.00 $173.20 $30,991.41
119 $30,991.41 $185.41 $0.00 $175.23 $31,352.05
120 $31,352.05 $185.41 $0.00 $177.27 $31,714.73
121 $31,714.73 $185.41 $0.00 $179.32 $32,079.46
122 $32,079.46 $185.41 $0.00 $181.38 $32,446.25
123 $32,446.25 $185.41 $0.00 $183.46 $32,815.12
124 $32,815.12 $185.41 $0.00 $185.54 $33,186.07
125 $33,186.07 $185.41 $0.00 $187.64 $33,559.12
126 $33,559.12 $185.41 $0.00 $189.75 $33,934.28
127 $33,934.28 $185.41 $0.00 $191.87 $34,311.56
128 $34,311.56 $185.41 $0.00 $194.00 $34,690.97
129 $34,690.97 $185.41 $0.00 $196.15 $35,072.53
130 $35,072.53 $185.41 $0.00 $198.31 $35,456.25
131 $35,456.25 $185.41 $0.00 $200.47 $35,842.13
132 $35,842.13 $185.41 $0.00 $202.66 $36,230.20
133 $36,230.20 $185.41 $0.00 $204.85 $36,620.46
134 $36,620.46 $185.41 $0.00 $207.06 $37,012.93
135 $37,012.93 $185.41 $0.00 $209.28 $37,407.62
136 $37,407.62 $185.41 $0.00 $211.51 $37,804.54
137 $37,804.54 $185.41 $0.00 $213.75 $38,203.70
138 $38,203.70 $185.41 $0.00 $216.01 $38,605.12
139 $38,605.12 $185.41 $0.00 $218.28 $39,008.81
140 $39,008.81 $185.41 $0.00 $220.56 $39,414.78
141 $39,414.78 $185.41 $0.00 $222.86 $39,823.05
142 $39,823.05 $185.41 $0.00 $225.17 $40,233.63
143 $40,233.63 $185.41 $0.00 $227.49 $40,646.53
144 $40,646.53 $185.41 $0.00 $229.82 $41,061.76
145 $41,061.76 $185.41 $0.00 $232.17 $41,479.34
146 $41,479.34 $185.41 $0.00 $234.53 $41,899.28
147 $41,899.28 $185.41 $0.00 $236.90 $42,321.59
148 $42,321.59 $185.41 $0.00 $239.29 $42,746.29
149 $42,746.29 $185.41 $0.00 $241.69 $43,173.39
150 $43,173.39 $185.41 $0.00 $244.11 $43,602.91
151 $43,602.91 $185.41 $0.00 $246.54 $44,034.86
152 $44,034.86 $185.41 $0.00 $248.98 $44,469.25
153 $44,469.25 $185.41 $0.00 $251.44 $44,906.10
154 $44,906.10 $185.41 $0.00 $253.91 $45,345.42
155 $45,345.42 $185.41 $0.00 $256.39 $45,787.22
156 $45,787.22 $185.41 $0.00 $258.89 $46,231.52
157 $46,231.52 $185.41 $0.00 $261.40 $46,678.33
158 $46,678.33 $185.41 $0.00 $263.93 $47,127.67
159 $47,127.67 $185.41 $0.00 $266.47 $47,579.55
160 $47,579.55 $185.41 $0.00 $269.02 $48,033.98
161 $48,033.98 $185.41 $0.00 $271.59 $48,490.98
162 $48,490.98 $185.41 $0.00 $274.18 $48,950.57
163 $48,950.57 $185.41 $0.00 $276.77 $49,412.75
164 $49,412.75 $185.41 $0.00 $279.39 $49,877.55
165 $49,877.55 $185.41 $0.00 $282.01 $50,344.97
166 $50,344.97 $185.41 $0.00 $284.66 $50,815.04
167 $50,815.04 $185.41 $0.00 $287.32 $51,287.77
168 $51,287.77 $185.41 $0.00 $289.99 $51,763.17
169 $51,763.17 $185.41 $0.00 $292.68 $52,241.26
170 $52,241.26 $185.41 $0.00 $295.38 $52,722.05
171 $52,722.05 $185.41 $0.00 $298.10 $53,205.56
172 $53,205.56 $185.41 $0.00 $300.83 $53,691.80
173 $53,691.80 $185.41 $0.00 $303.58 $54,180.79
174 $54,180.79 $185.41 $0.00 $306.35 $54,672.55
175 $54,672.55 $185.41 $0.00 $309.13 $55,167.09
176 $55,167.09 $185.41 $0.00 $311.92 $55,664.42
177 $55,664.42 $185.41 $0.00 $314.73 $56,164.56
178 $56,164.56 $185.41 $0.00 $317.56 $56,667.53
179 $56,667.53 $185.41 $0.00 $320.41 $57,173.35
180 $57,173.35 $185.41 $0.00 $323.27 $57,682.03
181 $57,682.03 $185.41 $0.00 $326.14 $58,193.58
182 $58,193.58 $185.41 $0.00 $329.03 $58,708.02
183 $58,708.02 $185.41 $0.00 $331.94 $59,225.37
184 $59,225.37 $185.41 $0.00 $334.87 $59,745.65
185 $59,745.65 $185.41 $0.00 $337.81 $60,268.87
186 $60,268.87 $185.41 $0.00 $340.77 $60,795.05
187 $60,795.05 $185.41 $0.00 $343.74 $61,324.20
188 $61,324.20 $185.41 $0.00 $346.74 $61,856.35
189 $61,856.35 $185.41 $0.00 $349.74 $62,391.50
190 $62,391.50 $185.41 $0.00 $352.77 $62,929.68
191 $62,929.68 $185.41 $0.00 $355.81 $63,470.90
192 $63,470.90 $185.41 $0.00 $358.87 $64,015.18
193 $64,015.18 $185.41 $0.00 $361.95 $64,562.54
194 $64,562.54 $185.41 $0.00 $365.05 $65,113.00
195 $65,113.00 $185.41 $0.00 $368.16 $65,666.57
196 $65,666.57 $185.41 $0.00 $371.29 $66,223.27
197 $66,223.27 $185.41 $0.00 $374.44 $66,783.12
198 $66,783.12 $185.41 $0.00 $377.60 $67,346.13
199 $67,346.13 $185.41 $0.00 $380.78 $67,912.32
200 $67,912.32 $185.41 $0.00 $383.99 $68,481.72
201 $68,481.72 $185.41 $0.00 $387.21 $69,054.34
202 $69,054.34 $185.41 $0.00 $390.44 $69,630.19
203 $69,630.19 $185.41 $0.00 $393.70 $70,209.30
204 $70,209.30 $185.41 $0.00 $396.97 $70,791.68
205 $70,791.68 $185.41 $0.00 $400.27 $71,377.36
206 $71,377.36 $185.41 $0.00 $403.58 $71,966.35
207 $71,966.35 $185.41 $0.00 $406.91 $72,558.67
208 $72,558.67 $185.41 $0.00 $410.26 $73,154.34
209 $73,154.34 $185.41 $0.00 $413.63 $73,753.38
210 $73,753.38 $185.41 $0.00 $417.01 $74,355.80
211 $74,355.80 $185.41 $0.00 $420.42 $74,961.63
212 $74,961.63 $185.41 $0.00 $423.84 $75,570.88
213 $75,570.88 $185.41 $0.00 $427.29 $76,183.58
214 $76,183.58 $185.41 $0.00 $430.75 $76,799.74
215 $76,799.74 $185.41 $0.00 $434.24 $77,419.39
216 $77,419.39 $185.41 $0.00 $437.74 $78,042.54
217 $78,042.54 $185.41 $40,700.74 $441.26 $37,968.47
218 $37,968.47 $185.41 $0.00 $214.68 $38,368.56
219 $38,368.56 $185.41 $0.00 $216.94 $38,770.91
220 $38,770.91 $185.41 $0.00 $219.22 $39,175.54
221 $39,175.54 $185.41 $0.00 $221.50 $39,582.45
222 $39,582.45 $185.41 $0.00 $223.80 $39,991.66
223 $39,991.66 $185.41 $0.00 $226.12 $40,403.19
224 $40,403.19 $185.41 $0.00 $228.45 $40,817.05
225 $40,817.05 $185.41 $0.00 $230.79 $41,233.25
226 $41,233.25 $185.41 $0.00 $233.14 $41,651.80
227 $41,651.80 $185.41 $0.00 $235.51 $42,072.72
228 $42,072.72 $185.41 $0.00 $237.89 $42,496.02
229 $42,496.02 $0.00 $42,735.78 $240.28 $0.52