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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$51,844
Monthly savings required$230

How much will it cost to send your child to Portland Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $103,688.83 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $230.41 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$21,017.00
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 $230.41 $0.00 $0.00 $230.41
2 $230.41 $230.41 $0.00 $1.30 $462.12
3 $462.12 $230.41 $0.00 $2.61 $695.14
4 $695.14 $230.41 $0.00 $3.93 $929.48
5 $929.48 $230.41 $0.00 $5.26 $1,165.15
6 $1,165.15 $230.41 $0.00 $6.59 $1,402.15
7 $1,402.15 $230.41 $0.00 $7.93 $1,640.49
8 $1,640.49 $230.41 $0.00 $9.28 $1,880.18
9 $1,880.18 $230.41 $0.00 $10.63 $2,121.22
10 $2,121.22 $230.41 $0.00 $11.99 $2,363.62
11 $2,363.62 $230.41 $0.00 $13.36 $2,607.39
12 $2,607.39 $230.41 $0.00 $14.74 $2,852.54
13 $2,852.54 $230.41 $0.00 $16.13 $3,099.08
14 $3,099.08 $230.41 $0.00 $17.52 $3,347.01
15 $3,347.01 $230.41 $0.00 $18.92 $3,596.34
16 $3,596.34 $230.41 $0.00 $20.33 $3,847.08
17 $3,847.08 $230.41 $0.00 $21.75 $4,099.24
18 $4,099.24 $230.41 $0.00 $23.18 $4,352.83
19 $4,352.83 $230.41 $0.00 $24.61 $4,607.85
20 $4,607.85 $230.41 $0.00 $26.05 $4,864.31
21 $4,864.31 $230.41 $0.00 $27.50 $5,122.22
22 $5,122.22 $230.41 $0.00 $28.96 $5,381.59
23 $5,381.59 $230.41 $0.00 $30.43 $5,642.43
24 $5,642.43 $230.41 $0.00 $31.90 $5,904.74
25 $5,904.74 $230.41 $0.00 $33.39 $6,168.54
26 $6,168.54 $230.41 $0.00 $34.88 $6,433.83
27 $6,433.83 $230.41 $0.00 $36.38 $6,700.62
28 $6,700.62 $230.41 $0.00 $37.89 $6,968.92
29 $6,968.92 $230.41 $0.00 $39.40 $7,238.73
30 $7,238.73 $230.41 $0.00 $40.93 $7,510.07
31 $7,510.07 $230.41 $0.00 $42.46 $7,782.94
32 $7,782.94 $230.41 $0.00 $44.01 $8,057.36
33 $8,057.36 $230.41 $0.00 $45.56 $8,333.33
34 $8,333.33 $230.41 $0.00 $47.12 $8,610.86
35 $8,610.86 $230.41 $0.00 $48.69 $8,889.96
36 $8,889.96 $230.41 $0.00 $50.27 $9,170.64
37 $9,170.64 $230.41 $0.00 $51.85 $9,452.90
38 $9,452.90 $230.41 $0.00 $53.45 $9,736.76
39 $9,736.76 $230.41 $0.00 $55.05 $10,022.22
40 $10,022.22 $230.41 $0.00 $56.67 $10,309.30
41 $10,309.30 $230.41 $0.00 $58.29 $10,598.00
42 $10,598.00 $230.41 $0.00 $59.92 $10,888.33
43 $10,888.33 $230.41 $0.00 $61.56 $11,180.30
44 $11,180.30 $230.41 $0.00 $63.22 $11,473.93
45 $11,473.93 $230.41 $0.00 $64.88 $11,769.22
46 $11,769.22 $230.41 $0.00 $66.54 $12,066.17
47 $12,066.17 $230.41 $0.00 $68.22 $12,364.80
48 $12,364.80 $230.41 $0.00 $69.91 $12,665.12
49 $12,665.12 $230.41 $0.00 $71.61 $12,967.14
50 $12,967.14 $230.41 $0.00 $73.32 $13,270.87
51 $13,270.87 $230.41 $0.00 $75.04 $13,576.32
52 $13,576.32 $230.41 $0.00 $76.76 $13,883.49
53 $13,883.49 $230.41 $0.00 $78.50 $14,192.40
54 $14,192.40 $230.41 $0.00 $80.25 $14,503.06
55 $14,503.06 $230.41 $0.00 $82.00 $14,815.47
56 $14,815.47 $230.41 $0.00 $83.77 $15,129.65
57 $15,129.65 $230.41 $0.00 $85.55 $15,445.61
58 $15,445.61 $230.41 $0.00 $87.33 $15,763.35
59 $15,763.35 $230.41 $0.00 $89.13 $16,082.89
60 $16,082.89 $230.41 $0.00 $90.93 $16,404.23
61 $16,404.23 $230.41 $0.00 $92.75 $16,727.39
62 $16,727.39 $230.41 $0.00 $94.58 $17,052.38
63 $17,052.38 $230.41 $0.00 $96.42 $17,379.21
64 $17,379.21 $230.41 $0.00 $98.26 $17,707.88
65 $17,707.88 $230.41 $0.00 $100.12 $18,038.41
66 $18,038.41 $230.41 $0.00 $101.99 $18,370.81
67 $18,370.81 $230.41 $0.00 $103.87 $18,705.09
68 $18,705.09 $230.41 $0.00 $105.76 $19,041.26
69 $19,041.26 $230.41 $0.00 $107.66 $19,379.33
70 $19,379.33 $230.41 $0.00 $109.57 $19,719.31
71 $19,719.31 $230.41 $0.00 $111.50 $20,061.22
72 $20,061.22 $230.41 $0.00 $113.43 $20,405.06
73 $20,405.06 $230.41 $0.00 $115.37 $20,750.84
74 $20,750.84 $230.41 $0.00 $117.33 $21,098.58
75 $21,098.58 $230.41 $0.00 $119.29 $21,448.28
76 $21,448.28 $230.41 $0.00 $121.27 $21,799.96
77 $21,799.96 $230.41 $0.00 $123.26 $22,153.63
78 $22,153.63 $230.41 $0.00 $125.26 $22,509.30
79 $22,509.30 $230.41 $0.00 $127.27 $22,866.98
80 $22,866.98 $230.41 $0.00 $129.29 $23,226.68
81 $23,226.68 $230.41 $0.00 $131.33 $23,588.42
82 $23,588.42 $230.41 $0.00 $133.37 $23,952.20
83 $23,952.20 $230.41 $0.00 $135.43 $24,318.04
84 $24,318.04 $230.41 $0.00 $137.50 $24,685.95
85 $24,685.95 $230.41 $0.00 $139.58 $25,055.94
86 $25,055.94 $230.41 $0.00 $141.67 $25,428.02
87 $25,428.02 $230.41 $0.00 $143.77 $25,802.20
88 $25,802.20 $230.41 $0.00 $145.89 $26,178.50
89 $26,178.50 $230.41 $0.00 $148.02 $26,556.93
90 $26,556.93 $230.41 $0.00 $150.16 $26,937.50
91 $26,937.50 $230.41 $0.00 $152.31 $27,320.22
92 $27,320.22 $230.41 $0.00 $154.47 $27,705.10
93 $27,705.10 $230.41 $0.00 $156.65 $28,092.16
94 $28,092.16 $230.41 $0.00 $158.84 $28,481.41
95 $28,481.41 $230.41 $0.00 $161.04 $28,872.86
96 $28,872.86 $230.41 $0.00 $163.25 $29,266.52
97 $29,266.52 $230.41 $0.00 $165.48 $29,662.41
98 $29,662.41 $230.41 $0.00 $167.72 $30,060.54
99 $30,060.54 $230.41 $0.00 $169.97 $30,460.92
100 $30,460.92 $230.41 $0.00 $172.23 $30,863.56
101 $30,863.56 $230.41 $0.00 $174.51 $31,268.48
102 $31,268.48 $230.41 $0.00 $176.80 $31,675.69
103 $31,675.69 $230.41 $0.00 $179.10 $32,085.20
104 $32,085.20 $230.41 $0.00 $181.41 $32,497.02
105 $32,497.02 $230.41 $0.00 $183.74 $32,911.17
106 $32,911.17 $230.41 $0.00 $186.08 $33,327.66
107 $33,327.66 $230.41 $0.00 $188.44 $33,746.51
108 $33,746.51 $230.41 $0.00 $190.81 $34,167.73
109 $34,167.73 $230.41 $0.00 $193.19 $34,591.33
110 $34,591.33 $230.41 $0.00 $195.58 $35,017.32
111 $35,017.32 $230.41 $0.00 $197.99 $35,445.72
112 $35,445.72 $230.41 $0.00 $200.42 $35,876.55
113 $35,876.55 $230.41 $0.00 $202.85 $36,309.81
114 $36,309.81 $230.41 $0.00 $205.30 $36,745.52
115 $36,745.52 $230.41 $0.00 $207.76 $37,183.69
116 $37,183.69 $230.41 $0.00 $210.24 $37,624.34
117 $37,624.34 $230.41 $0.00 $212.73 $38,067.48
118 $38,067.48 $230.41 $0.00 $215.24 $38,513.13
119 $38,513.13 $230.41 $0.00 $217.76 $38,961.30
120 $38,961.30 $230.41 $0.00 $220.29 $39,412.00
121 $39,412.00 $230.41 $0.00 $222.84 $39,865.25
122 $39,865.25 $230.41 $0.00 $225.40 $40,321.06
123 $40,321.06 $230.41 $0.00 $227.98 $40,779.45
124 $40,779.45 $230.41 $0.00 $230.57 $41,240.43
125 $41,240.43 $230.41 $0.00 $233.18 $41,704.02
126 $41,704.02 $230.41 $0.00 $235.80 $42,170.23
127 $42,170.23 $230.41 $0.00 $238.44 $42,639.08
128 $42,639.08 $230.41 $0.00 $241.09 $43,110.58
129 $43,110.58 $230.41 $0.00 $243.75 $43,584.74
130 $43,584.74 $230.41 $0.00 $246.43 $44,061.58
131 $44,061.58 $230.41 $0.00 $249.13 $44,541.12
132 $44,541.12 $230.41 $0.00 $251.84 $45,023.37
133 $45,023.37 $230.41 $0.00 $254.57 $45,508.35
134 $45,508.35 $230.41 $0.00 $257.31 $45,996.07
135 $45,996.07 $230.41 $0.00 $260.07 $46,486.55
136 $46,486.55 $230.41 $0.00 $262.84 $46,979.80
137 $46,979.80 $230.41 $0.00 $265.63 $47,475.84
138 $47,475.84 $230.41 $0.00 $268.44 $47,974.69
139 $47,974.69 $230.41 $0.00 $271.26 $48,476.36
140 $48,476.36 $230.41 $0.00 $274.09 $48,980.86
141 $48,980.86 $230.41 $0.00 $276.94 $49,488.21
142 $49,488.21 $230.41 $0.00 $279.81 $49,998.43
143 $49,998.43 $230.41 $0.00 $282.70 $50,511.54
144 $50,511.54 $230.41 $0.00 $285.60 $51,027.55
145 $51,027.55 $230.41 $0.00 $288.52 $51,546.48
146 $51,546.48 $230.41 $0.00 $291.45 $52,068.34
147 $52,068.34 $230.41 $0.00 $294.40 $52,593.15
148 $52,593.15 $230.41 $0.00 $297.37 $53,120.93
149 $53,120.93 $230.41 $0.00 $300.35 $53,651.69
150 $53,651.69 $230.41 $0.00 $303.35 $54,185.45
151 $54,185.45 $230.41 $0.00 $306.37 $54,722.23
152 $54,722.23 $230.41 $0.00 $309.41 $55,262.05
153 $55,262.05 $230.41 $0.00 $312.46 $55,804.92
154 $55,804.92 $230.41 $0.00 $315.53 $56,350.86
155 $56,350.86 $230.41 $0.00 $318.62 $56,899.89
156 $56,899.89 $230.41 $0.00 $321.72 $57,452.02
157 $57,452.02 $230.41 $0.00 $324.84 $58,007.27
158 $58,007.27 $230.41 $0.00 $327.98 $58,565.66
159 $58,565.66 $230.41 $0.00 $331.14 $59,127.21
160 $59,127.21 $230.41 $0.00 $334.31 $59,691.93
161 $59,691.93 $230.41 $0.00 $337.51 $60,259.85
162 $60,259.85 $230.41 $0.00 $340.72 $60,830.98
163 $60,830.98 $230.41 $0.00 $343.95 $61,405.34
164 $61,405.34 $230.41 $0.00 $347.19 $61,982.94
165 $61,982.94 $230.41 $0.00 $350.46 $62,563.81
166 $62,563.81 $230.41 $0.00 $353.74 $63,147.96
167 $63,147.96 $230.41 $0.00 $357.05 $63,735.42
168 $63,735.42 $230.41 $0.00 $360.37 $64,326.20
169 $64,326.20 $230.41 $0.00 $363.71 $64,920.32
170 $64,920.32 $230.41 $0.00 $367.07 $65,517.80
171 $65,517.80 $230.41 $0.00 $370.45 $66,118.66
172 $66,118.66 $230.41 $0.00 $373.84 $66,722.91
173 $66,722.91 $230.41 $0.00 $377.26 $67,330.58
174 $67,330.58 $230.41 $0.00 $380.70 $67,941.69
175 $67,941.69 $230.41 $0.00 $384.15 $68,556.25
176 $68,556.25 $230.41 $0.00 $387.63 $69,174.29
177 $69,174.29 $230.41 $0.00 $391.12 $69,795.82
178 $69,795.82 $230.41 $0.00 $394.64 $70,420.87
179 $70,420.87 $230.41 $0.00 $398.17 $71,049.45
180 $71,049.45 $230.41 $0.00 $401.72 $71,681.58
181 $71,681.58 $230.41 $0.00 $405.30 $72,317.29
182 $72,317.29 $230.41 $0.00 $408.89 $72,956.59
183 $72,956.59 $230.41 $0.00 $412.51 $73,599.51
184 $73,599.51 $230.41 $0.00 $416.14 $74,246.06
185 $74,246.06 $230.41 $0.00 $419.80 $74,896.27
186 $74,896.27 $230.41 $0.00 $423.47 $75,550.15
187 $75,550.15 $230.41 $0.00 $427.17 $76,207.73
188 $76,207.73 $230.41 $0.00 $430.89 $76,869.03
189 $76,869.03 $230.41 $0.00 $434.63 $77,534.07
190 $77,534.07 $230.41 $0.00 $438.39 $78,202.87
191 $78,202.87 $230.41 $0.00 $442.17 $78,875.45
192 $78,875.45 $230.41 $0.00 $445.97 $79,551.83
193 $79,551.83 $230.41 $0.00 $449.80 $80,232.04
194 $80,232.04 $230.41 $0.00 $453.64 $80,916.09
195 $80,916.09 $230.41 $0.00 $457.51 $81,604.01
196 $81,604.01 $230.41 $0.00 $461.40 $82,295.82
197 $82,295.82 $230.41 $0.00 $465.31 $82,991.54
198 $82,991.54 $230.41 $0.00 $469.25 $83,691.20
199 $83,691.20 $230.41 $0.00 $473.20 $84,394.81
200 $84,394.81 $230.41 $0.00 $477.18 $85,102.40
201 $85,102.40 $230.41 $0.00 $481.18 $85,813.99
202 $85,813.99 $230.41 $0.00 $485.20 $86,529.60
203 $86,529.60 $230.41 $0.00 $489.25 $87,249.26
204 $87,249.26 $230.41 $0.00 $493.32 $87,972.99
205 $87,972.99 $230.41 $0.00 $497.41 $88,700.81
206 $88,700.81 $230.41 $0.00 $501.53 $89,432.75
207 $89,432.75 $230.41 $0.00 $505.67 $90,168.83
208 $90,168.83 $230.41 $0.00 $509.83 $90,909.07
209 $90,909.07 $230.41 $0.00 $514.01 $91,653.49
210 $91,653.49 $230.41 $0.00 $518.22 $92,402.12
211 $92,402.12 $230.41 $0.00 $522.46 $93,154.99
212 $93,154.99 $230.41 $0.00 $526.71 $93,912.11
213 $93,912.11 $230.41 $0.00 $530.99 $94,673.51
214 $94,673.51 $230.41 $0.00 $535.30 $95,439.22
215 $95,439.22 $230.41 $0.00 $539.63 $96,209.26
216 $96,209.26 $230.41 $0.00 $543.98 $96,983.65
217 $96,983.65 $230.41 $50,579.92 $548.36 $47,182.50
218 $47,182.50 $230.41 $0.00 $266.78 $47,679.69
219 $47,679.69 $230.41 $0.00 $269.59 $48,179.69
220 $48,179.69 $230.41 $0.00 $272.41 $48,682.51
221 $48,682.51 $230.41 $0.00 $275.26 $49,188.18
222 $49,188.18 $230.41 $0.00 $278.12 $49,696.71
223 $49,696.71 $230.41 $0.00 $280.99 $50,208.11
224 $50,208.11 $230.41 $0.00 $283.88 $50,722.40
225 $50,722.40 $230.41 $0.00 $286.79 $51,239.60
226 $51,239.60 $230.41 $0.00 $289.72 $51,759.73
227 $51,759.73 $230.41 $0.00 $292.66 $52,282.80
228 $52,282.80 $230.41 $0.00 $295.61 $52,808.82
229 $52,808.82 $0.00 $53,108.91 $298.59 ($1.50)