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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$42,172
Monthly savings required$187

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 $84,344.30 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $187.43 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$17,096.00
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 $187.43 $0.00 $0.00 $187.43
2 $187.43 $187.43 $0.00 $1.06 $375.92
3 $375.92 $187.43 $0.00 $2.13 $565.48
4 $565.48 $187.43 $0.00 $3.20 $756.11
5 $756.11 $187.43 $0.00 $4.28 $947.82
6 $947.82 $187.43 $0.00 $5.36 $1,140.61
7 $1,140.61 $187.43 $0.00 $6.45 $1,334.49
8 $1,334.49 $187.43 $0.00 $7.55 $1,529.47
9 $1,529.47 $187.43 $0.00 $8.65 $1,725.55
10 $1,725.55 $187.43 $0.00 $9.76 $1,922.74
11 $1,922.74 $187.43 $0.00 $10.87 $2,121.04
12 $2,121.04 $187.43 $0.00 $11.99 $2,320.46
13 $2,320.46 $187.43 $0.00 $13.12 $2,521.01
14 $2,521.01 $187.43 $0.00 $14.25 $2,722.69
15 $2,722.69 $187.43 $0.00 $15.39 $2,925.51
16 $2,925.51 $187.43 $0.00 $16.54 $3,129.48
17 $3,129.48 $187.43 $0.00 $17.69 $3,334.60
18 $3,334.60 $187.43 $0.00 $18.85 $3,540.88
19 $3,540.88 $187.43 $0.00 $20.02 $3,748.33
20 $3,748.33 $187.43 $0.00 $21.19 $3,956.95
21 $3,956.95 $187.43 $0.00 $22.37 $4,166.75
22 $4,166.75 $187.43 $0.00 $23.56 $4,377.74
23 $4,377.74 $187.43 $0.00 $24.75 $4,589.92
24 $4,589.92 $187.43 $0.00 $25.95 $4,803.30
25 $4,803.30 $187.43 $0.00 $27.16 $5,017.89
26 $5,017.89 $187.43 $0.00 $28.37 $5,233.69
27 $5,233.69 $187.43 $0.00 $29.59 $5,450.71
28 $5,450.71 $187.43 $0.00 $30.82 $5,668.96
29 $5,668.96 $187.43 $0.00 $32.05 $5,888.44
30 $5,888.44 $187.43 $0.00 $33.29 $6,109.16
31 $6,109.16 $187.43 $0.00 $34.54 $6,331.13
32 $6,331.13 $187.43 $0.00 $35.80 $6,554.36
33 $6,554.36 $187.43 $0.00 $37.06 $6,778.85
34 $6,778.85 $187.43 $0.00 $38.33 $7,004.61
35 $7,004.61 $187.43 $0.00 $39.61 $7,231.65
36 $7,231.65 $187.43 $0.00 $40.89 $7,459.97
37 $7,459.97 $187.43 $0.00 $42.18 $7,689.58
38 $7,689.58 $187.43 $0.00 $43.48 $7,920.49
39 $7,920.49 $187.43 $0.00 $44.78 $8,152.70
40 $8,152.70 $187.43 $0.00 $46.10 $8,386.23
41 $8,386.23 $187.43 $0.00 $47.42 $8,621.08
42 $8,621.08 $187.43 $0.00 $48.74 $8,857.25
43 $8,857.25 $187.43 $0.00 $50.08 $9,094.76
44 $9,094.76 $187.43 $0.00 $51.42 $9,333.61
45 $9,333.61 $187.43 $0.00 $52.77 $9,573.81
46 $9,573.81 $187.43 $0.00 $54.13 $9,815.37
47 $9,815.37 $187.43 $0.00 $55.50 $10,058.30
48 $10,058.30 $187.43 $0.00 $56.87 $10,302.60
49 $10,302.60 $187.43 $0.00 $58.25 $10,548.28
50 $10,548.28 $187.43 $0.00 $59.64 $10,795.35
51 $10,795.35 $187.43 $0.00 $61.04 $11,043.82
52 $11,043.82 $187.43 $0.00 $62.44 $11,293.69
53 $11,293.69 $187.43 $0.00 $63.86 $11,544.98
54 $11,544.98 $187.43 $0.00 $65.28 $11,797.69
55 $11,797.69 $187.43 $0.00 $66.71 $12,051.83
56 $12,051.83 $187.43 $0.00 $68.14 $12,307.40
57 $12,307.40 $187.43 $0.00 $69.59 $12,564.42
58 $12,564.42 $187.43 $0.00 $71.04 $12,822.89
59 $12,822.89 $187.43 $0.00 $72.50 $13,082.82
60 $13,082.82 $187.43 $0.00 $73.97 $13,344.22
61 $13,344.22 $187.43 $0.00 $75.45 $13,607.10
62 $13,607.10 $187.43 $0.00 $76.94 $13,871.47
63 $13,871.47 $187.43 $0.00 $78.43 $14,137.33
64 $14,137.33 $187.43 $0.00 $79.93 $14,404.69
65 $14,404.69 $187.43 $0.00 $81.45 $14,673.57
66 $14,673.57 $187.43 $0.00 $82.97 $14,943.97
67 $14,943.97 $187.43 $0.00 $84.50 $15,215.90
68 $15,215.90 $187.43 $0.00 $86.03 $15,489.36
69 $15,489.36 $187.43 $0.00 $87.58 $15,764.37
70 $15,764.37 $187.43 $0.00 $89.13 $16,040.93
71 $16,040.93 $187.43 $0.00 $90.70 $16,319.06
72 $16,319.06 $187.43 $0.00 $92.27 $16,598.76
73 $16,598.76 $187.43 $0.00 $93.85 $16,880.04
74 $16,880.04 $187.43 $0.00 $95.44 $17,162.91
75 $17,162.91 $187.43 $0.00 $97.04 $17,447.38
76 $17,447.38 $187.43 $0.00 $98.65 $17,733.46
77 $17,733.46 $187.43 $0.00 $100.27 $18,021.16
78 $18,021.16 $187.43 $0.00 $101.89 $18,310.48
79 $18,310.48 $187.43 $0.00 $103.53 $18,601.44
80 $18,601.44 $187.43 $0.00 $105.18 $18,894.05
81 $18,894.05 $187.43 $0.00 $106.83 $19,188.31
82 $19,188.31 $187.43 $0.00 $108.49 $19,484.23
83 $19,484.23 $187.43 $0.00 $110.17 $19,781.83
84 $19,781.83 $187.43 $0.00 $111.85 $20,081.11
85 $20,081.11 $187.43 $0.00 $113.54 $20,382.08
86 $20,382.08 $187.43 $0.00 $115.24 $20,684.75
87 $20,684.75 $187.43 $0.00 $116.95 $20,989.13
88 $20,989.13 $187.43 $0.00 $118.68 $21,295.24
89 $21,295.24 $187.43 $0.00 $120.41 $21,603.08
90 $21,603.08 $187.43 $0.00 $122.15 $21,912.66
91 $21,912.66 $187.43 $0.00 $123.90 $22,223.99
92 $22,223.99 $187.43 $0.00 $125.66 $22,537.08
93 $22,537.08 $187.43 $0.00 $127.43 $22,851.94
94 $22,851.94 $187.43 $0.00 $129.21 $23,168.58
95 $23,168.58 $187.43 $0.00 $131.00 $23,487.01
96 $23,487.01 $187.43 $0.00 $132.80 $23,807.24
97 $23,807.24 $187.43 $0.00 $134.61 $24,129.28
98 $24,129.28 $187.43 $0.00 $136.43 $24,453.14
99 $24,453.14 $187.43 $0.00 $138.26 $24,778.83
100 $24,778.83 $187.43 $0.00 $140.10 $25,106.36
101 $25,106.36 $187.43 $0.00 $141.96 $25,435.75
102 $25,435.75 $187.43 $0.00 $143.82 $25,767.00
103 $25,767.00 $187.43 $0.00 $145.69 $26,100.12
104 $26,100.12 $187.43 $0.00 $147.57 $26,435.12
105 $26,435.12 $187.43 $0.00 $149.47 $26,772.02
106 $26,772.02 $187.43 $0.00 $151.37 $27,110.82
107 $27,110.82 $187.43 $0.00 $153.29 $27,451.54
108 $27,451.54 $187.43 $0.00 $155.21 $27,794.18
109 $27,794.18 $187.43 $0.00 $157.15 $28,138.76
110 $28,138.76 $187.43 $0.00 $159.10 $28,485.29
111 $28,485.29 $187.43 $0.00 $161.06 $28,833.78
112 $28,833.78 $187.43 $0.00 $163.03 $29,184.24
113 $29,184.24 $187.43 $0.00 $165.01 $29,536.68
114 $29,536.68 $187.43 $0.00 $167.00 $29,891.11
115 $29,891.11 $187.43 $0.00 $169.01 $30,247.55
116 $30,247.55 $187.43 $0.00 $171.02 $30,606.00
117 $30,606.00 $187.43 $0.00 $173.05 $30,966.48
118 $30,966.48 $187.43 $0.00 $175.09 $31,329.00
119 $31,329.00 $187.43 $0.00 $177.14 $31,693.57
120 $31,693.57 $187.43 $0.00 $179.20 $32,060.20
121 $32,060.20 $187.43 $0.00 $181.27 $32,428.90
122 $32,428.90 $187.43 $0.00 $183.36 $32,799.69
123 $32,799.69 $187.43 $0.00 $185.45 $33,172.57
124 $33,172.57 $187.43 $0.00 $187.56 $33,547.56
125 $33,547.56 $187.43 $0.00 $189.68 $33,924.67
126 $33,924.67 $187.43 $0.00 $191.82 $34,303.92
127 $34,303.92 $187.43 $0.00 $193.96 $34,685.31
128 $34,685.31 $187.43 $0.00 $196.12 $35,068.86
129 $35,068.86 $187.43 $0.00 $198.28 $35,454.57
130 $35,454.57 $187.43 $0.00 $200.47 $35,842.47
131 $35,842.47 $187.43 $0.00 $202.66 $36,232.56
132 $36,232.56 $187.43 $0.00 $204.86 $36,624.85
133 $36,624.85 $187.43 $0.00 $207.08 $37,019.36
134 $37,019.36 $187.43 $0.00 $209.31 $37,416.10
135 $37,416.10 $187.43 $0.00 $211.56 $37,815.09
136 $37,815.09 $187.43 $0.00 $213.81 $38,216.33
137 $38,216.33 $187.43 $0.00 $216.08 $38,619.84
138 $38,619.84 $187.43 $0.00 $218.36 $39,025.63
139 $39,025.63 $187.43 $0.00 $220.66 $39,433.72
140 $39,433.72 $187.43 $0.00 $222.96 $39,844.11
141 $39,844.11 $187.43 $0.00 $225.28 $40,256.82
142 $40,256.82 $187.43 $0.00 $227.62 $40,671.87
143 $40,671.87 $187.43 $0.00 $229.96 $41,089.26
144 $41,089.26 $187.43 $0.00 $232.32 $41,509.01
145 $41,509.01 $187.43 $0.00 $234.70 $41,931.14
146 $41,931.14 $187.43 $0.00 $237.08 $42,355.65
147 $42,355.65 $187.43 $0.00 $239.49 $42,782.57
148 $42,782.57 $187.43 $0.00 $241.90 $43,211.90
149 $43,211.90 $187.43 $0.00 $244.33 $43,643.66
150 $43,643.66 $187.43 $0.00 $246.77 $44,077.86
151 $44,077.86 $187.43 $0.00 $249.22 $44,514.51
152 $44,514.51 $187.43 $0.00 $251.69 $44,953.63
153 $44,953.63 $187.43 $0.00 $254.17 $45,395.23
154 $45,395.23 $187.43 $0.00 $256.67 $45,839.33
155 $45,839.33 $187.43 $0.00 $259.18 $46,285.94
156 $46,285.94 $187.43 $0.00 $261.71 $46,735.08
157 $46,735.08 $187.43 $0.00 $264.25 $47,186.76
158 $47,186.76 $187.43 $0.00 $266.80 $47,640.99
159 $47,640.99 $187.43 $0.00 $269.37 $48,097.79
160 $48,097.79 $187.43 $0.00 $271.95 $48,557.17
161 $48,557.17 $187.43 $0.00 $274.55 $49,019.15
162 $49,019.15 $187.43 $0.00 $277.16 $49,483.74
163 $49,483.74 $187.43 $0.00 $279.79 $49,950.96
164 $49,950.96 $187.43 $0.00 $282.43 $50,420.82
165 $50,420.82 $187.43 $0.00 $285.09 $50,893.34
166 $50,893.34 $187.43 $0.00 $287.76 $51,368.53
167 $51,368.53 $187.43 $0.00 $290.45 $51,846.41
168 $51,846.41 $187.43 $0.00 $293.15 $52,326.99
169 $52,326.99 $187.43 $0.00 $295.86 $52,810.28
170 $52,810.28 $187.43 $0.00 $298.60 $53,296.31
171 $53,296.31 $187.43 $0.00 $301.35 $53,785.09
172 $53,785.09 $187.43 $0.00 $304.11 $54,276.63
173 $54,276.63 $187.43 $0.00 $306.89 $54,770.95
174 $54,770.95 $187.43 $0.00 $309.68 $55,268.06
175 $55,268.06 $187.43 $0.00 $312.49 $55,767.98
176 $55,767.98 $187.43 $0.00 $315.32 $56,270.73
177 $56,270.73 $187.43 $0.00 $318.16 $56,776.32
178 $56,776.32 $187.43 $0.00 $321.02 $57,284.77
179 $57,284.77 $187.43 $0.00 $323.90 $57,796.10
180 $57,796.10 $187.43 $0.00 $326.79 $58,310.32
181 $58,310.32 $187.43 $0.00 $329.70 $58,827.45
182 $58,827.45 $187.43 $0.00 $332.62 $59,347.50
183 $59,347.50 $187.43 $0.00 $335.56 $59,870.49
184 $59,870.49 $187.43 $0.00 $338.52 $60,396.44
185 $60,396.44 $187.43 $0.00 $341.49 $60,925.36
186 $60,925.36 $187.43 $0.00 $344.48 $61,457.27
187 $61,457.27 $187.43 $0.00 $347.49 $61,992.19
188 $61,992.19 $187.43 $0.00 $350.51 $62,530.13
189 $62,530.13 $187.43 $0.00 $353.55 $63,071.11
190 $63,071.11 $187.43 $0.00 $356.61 $63,615.15
191 $63,615.15 $187.43 $0.00 $359.69 $64,162.27
192 $64,162.27 $187.43 $0.00 $362.78 $64,712.48
193 $64,712.48 $187.43 $0.00 $365.89 $65,265.80
194 $65,265.80 $187.43 $0.00 $369.02 $65,822.25
195 $65,822.25 $187.43 $0.00 $372.17 $66,381.85
196 $66,381.85 $187.43 $0.00 $375.33 $66,944.61
197 $66,944.61 $187.43 $0.00 $378.51 $67,510.55
198 $67,510.55 $187.43 $0.00 $381.71 $68,079.69
199 $68,079.69 $187.43 $0.00 $384.93 $68,652.05
200 $68,652.05 $187.43 $0.00 $388.17 $69,227.65
201 $69,227.65 $187.43 $0.00 $391.42 $69,806.50
202 $69,806.50 $187.43 $0.00 $394.70 $70,388.63
203 $70,388.63 $187.43 $0.00 $397.99 $70,974.05
204 $70,974.05 $187.43 $0.00 $401.30 $71,562.78
205 $71,562.78 $187.43 $0.00 $404.63 $72,154.84
206 $72,154.84 $187.43 $0.00 $407.97 $72,750.24
207 $72,750.24 $187.43 $0.00 $411.34 $73,349.01
208 $73,349.01 $187.43 $0.00 $414.73 $73,951.17
209 $73,951.17 $187.43 $0.00 $418.13 $74,556.73
210 $74,556.73 $187.43 $0.00 $421.55 $75,165.71
211 $75,165.71 $187.43 $0.00 $425.00 $75,778.14
212 $75,778.14 $187.43 $0.00 $428.46 $76,394.03
213 $76,394.03 $187.43 $0.00 $431.94 $77,013.40
214 $77,013.40 $187.43 $0.00 $435.44 $77,636.27
215 $77,636.27 $187.43 $0.00 $438.97 $78,262.67
216 $78,262.67 $187.43 $0.00 $442.51 $78,892.61
217 $78,892.61 $187.43 $41,143.56 $446.07 $38,382.55
218 $38,382.55 $187.43 $0.00 $217.02 $38,787.00
219 $38,787.00 $187.43 $0.00 $219.31 $39,193.74
220 $39,193.74 $187.43 $0.00 $221.61 $39,602.78
221 $39,602.78 $187.43 $0.00 $223.92 $40,014.13
222 $40,014.13 $187.43 $0.00 $226.25 $40,427.81
223 $40,427.81 $187.43 $0.00 $228.58 $40,843.82
224 $40,843.82 $187.43 $0.00 $230.94 $41,262.19
225 $41,262.19 $187.43 $0.00 $233.30 $41,682.92
226 $41,682.92 $187.43 $0.00 $235.68 $42,106.03
227 $42,106.03 $187.43 $0.00 $238.07 $42,531.53
228 $42,531.53 $187.43 $0.00 $240.48 $42,959.44
229 $42,959.44 $0.00 $43,200.74 $242.90 $1.60