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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$51,869
Monthly savings required$231

How much will it cost to send your child to Jackson State Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $103,738.16 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $230.52 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$21,027.00
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 $230.52 $0.00 $0.00 $230.52
2 $230.52 $230.52 $0.00 $1.30 $462.34
3 $462.34 $230.52 $0.00 $2.61 $695.47
4 $695.47 $230.52 $0.00 $3.93 $929.92
5 $929.92 $230.52 $0.00 $5.26 $1,165.70
6 $1,165.70 $230.52 $0.00 $6.59 $1,402.81
7 $1,402.81 $230.52 $0.00 $7.93 $1,641.26
8 $1,641.26 $230.52 $0.00 $9.28 $1,881.06
9 $1,881.06 $230.52 $0.00 $10.64 $2,122.22
10 $2,122.22 $230.52 $0.00 $12.00 $2,364.74
11 $2,364.74 $230.52 $0.00 $13.37 $2,608.63
12 $2,608.63 $230.52 $0.00 $14.75 $2,853.90
13 $2,853.90 $230.52 $0.00 $16.14 $3,100.56
14 $3,100.56 $230.52 $0.00 $17.53 $3,348.61
15 $3,348.61 $230.52 $0.00 $18.93 $3,598.06
16 $3,598.06 $230.52 $0.00 $20.34 $3,848.92
17 $3,848.92 $230.52 $0.00 $21.76 $4,101.20
18 $4,101.20 $230.52 $0.00 $23.19 $4,354.91
19 $4,354.91 $230.52 $0.00 $24.62 $4,610.05
20 $4,610.05 $230.52 $0.00 $26.07 $4,866.64
21 $4,866.64 $230.52 $0.00 $27.52 $5,124.68
22 $5,124.68 $230.52 $0.00 $28.98 $5,384.18
23 $5,384.18 $230.52 $0.00 $30.44 $5,645.14
24 $5,645.14 $230.52 $0.00 $31.92 $5,907.58
25 $5,907.58 $230.52 $0.00 $33.40 $6,171.50
26 $6,171.50 $230.52 $0.00 $34.89 $6,436.91
27 $6,436.91 $230.52 $0.00 $36.40 $6,703.83
28 $6,703.83 $230.52 $0.00 $37.90 $6,972.25
29 $6,972.25 $230.52 $0.00 $39.42 $7,242.19
30 $7,242.19 $230.52 $0.00 $40.95 $7,513.66
31 $7,513.66 $230.52 $0.00 $42.48 $7,786.66
32 $7,786.66 $230.52 $0.00 $44.03 $8,061.21
33 $8,061.21 $230.52 $0.00 $45.58 $8,337.31
34 $8,337.31 $230.52 $0.00 $47.14 $8,614.97
35 $8,614.97 $230.52 $0.00 $48.71 $8,894.20
36 $8,894.20 $230.52 $0.00 $50.29 $9,175.01
37 $9,175.01 $230.52 $0.00 $51.88 $9,457.41
38 $9,457.41 $230.52 $0.00 $53.47 $9,741.40
39 $9,741.40 $230.52 $0.00 $55.08 $10,027.00
40 $10,027.00 $230.52 $0.00 $56.69 $10,314.21
41 $10,314.21 $230.52 $0.00 $58.32 $10,603.05
42 $10,603.05 $230.52 $0.00 $59.95 $10,893.52
43 $10,893.52 $230.52 $0.00 $61.59 $11,185.63
44 $11,185.63 $230.52 $0.00 $63.25 $11,479.40
45 $11,479.40 $230.52 $0.00 $64.91 $11,774.83
46 $11,774.83 $230.52 $0.00 $66.58 $12,071.93
47 $12,071.93 $230.52 $0.00 $68.26 $12,370.71
48 $12,370.71 $230.52 $0.00 $69.95 $12,671.18
49 $12,671.18 $230.52 $0.00 $71.64 $12,973.34
50 $12,973.34 $230.52 $0.00 $73.35 $13,277.21
51 $13,277.21 $230.52 $0.00 $75.07 $13,582.80
52 $13,582.80 $230.52 $0.00 $76.80 $13,890.12
53 $13,890.12 $230.52 $0.00 $78.54 $14,199.18
54 $14,199.18 $230.52 $0.00 $80.28 $14,509.98
55 $14,509.98 $230.52 $0.00 $82.04 $14,822.54
56 $14,822.54 $230.52 $0.00 $83.81 $15,136.87
57 $15,136.87 $230.52 $0.00 $85.59 $15,452.98
58 $15,452.98 $230.52 $0.00 $87.37 $15,770.87
59 $15,770.87 $230.52 $0.00 $89.17 $16,090.56
60 $16,090.56 $230.52 $0.00 $90.98 $16,412.06
61 $16,412.06 $230.52 $0.00 $92.80 $16,735.38
62 $16,735.38 $230.52 $0.00 $94.62 $17,060.52
63 $17,060.52 $230.52 $0.00 $96.46 $17,387.50
64 $17,387.50 $230.52 $0.00 $98.31 $17,716.33
65 $17,716.33 $230.52 $0.00 $100.17 $18,047.02
66 $18,047.02 $230.52 $0.00 $102.04 $18,379.58
67 $18,379.58 $230.52 $0.00 $103.92 $18,714.02
68 $18,714.02 $230.52 $0.00 $105.81 $19,050.35
69 $19,050.35 $230.52 $0.00 $107.71 $19,388.58
70 $19,388.58 $230.52 $0.00 $109.63 $19,728.73
71 $19,728.73 $230.52 $0.00 $111.55 $20,070.80
72 $20,070.80 $230.52 $0.00 $113.48 $20,414.80
73 $20,414.80 $230.52 $0.00 $115.43 $20,760.75
74 $20,760.75 $230.52 $0.00 $117.38 $21,108.65
75 $21,108.65 $230.52 $0.00 $119.35 $21,458.52
76 $21,458.52 $230.52 $0.00 $121.33 $21,810.37
77 $21,810.37 $230.52 $0.00 $123.32 $22,164.21
78 $22,164.21 $230.52 $0.00 $125.32 $22,520.05
79 $22,520.05 $230.52 $0.00 $127.33 $22,877.90
80 $22,877.90 $230.52 $0.00 $129.35 $23,237.77
81 $23,237.77 $230.52 $0.00 $131.39 $23,599.68
82 $23,599.68 $230.52 $0.00 $133.44 $23,963.64
83 $23,963.64 $230.52 $0.00 $135.49 $24,329.65
84 $24,329.65 $230.52 $0.00 $137.56 $24,697.73
85 $24,697.73 $230.52 $0.00 $139.64 $25,067.89
86 $25,067.89 $230.52 $0.00 $141.74 $25,440.15
87 $25,440.15 $230.52 $0.00 $143.84 $25,814.51
88 $25,814.51 $230.52 $0.00 $145.96 $26,190.99
89 $26,190.99 $230.52 $0.00 $148.09 $26,569.60
90 $26,569.60 $230.52 $0.00 $150.23 $26,950.35
91 $26,950.35 $230.52 $0.00 $152.38 $27,333.25
92 $27,333.25 $230.52 $0.00 $154.55 $27,718.32
93 $27,718.32 $230.52 $0.00 $156.72 $28,105.56
94 $28,105.56 $230.52 $0.00 $158.91 $28,494.99
95 $28,494.99 $230.52 $0.00 $161.11 $28,886.62
96 $28,886.62 $230.52 $0.00 $163.33 $29,280.47
97 $29,280.47 $230.52 $0.00 $165.56 $29,676.55
98 $29,676.55 $230.52 $0.00 $167.80 $30,074.87
99 $30,074.87 $230.52 $0.00 $170.05 $30,475.44
100 $30,475.44 $230.52 $0.00 $172.31 $30,878.27
101 $30,878.27 $230.52 $0.00 $174.59 $31,283.38
102 $31,283.38 $230.52 $0.00 $176.88 $31,690.78
103 $31,690.78 $230.52 $0.00 $179.18 $32,100.48
104 $32,100.48 $230.52 $0.00 $181.50 $32,512.50
105 $32,512.50 $230.52 $0.00 $183.83 $32,926.85
106 $32,926.85 $230.52 $0.00 $186.17 $33,343.54
107 $33,343.54 $230.52 $0.00 $188.53 $33,762.59
108 $33,762.59 $230.52 $0.00 $190.90 $34,184.01
109 $34,184.01 $230.52 $0.00 $193.28 $34,607.81
110 $34,607.81 $230.52 $0.00 $195.68 $35,034.01
111 $35,034.01 $230.52 $0.00 $198.09 $35,462.62
112 $35,462.62 $230.52 $0.00 $200.51 $35,893.65
113 $35,893.65 $230.52 $0.00 $202.95 $36,327.12
114 $36,327.12 $230.52 $0.00 $205.40 $36,763.04
115 $36,763.04 $230.52 $0.00 $207.86 $37,201.42
116 $37,201.42 $230.52 $0.00 $210.34 $37,642.28
117 $37,642.28 $230.52 $0.00 $212.83 $38,085.63
118 $38,085.63 $230.52 $0.00 $215.34 $38,531.49
119 $38,531.49 $230.52 $0.00 $217.86 $38,979.87
120 $38,979.87 $230.52 $0.00 $220.40 $39,430.79
121 $39,430.79 $230.52 $0.00 $222.95 $39,884.26
122 $39,884.26 $230.52 $0.00 $225.51 $40,340.29
123 $40,340.29 $230.52 $0.00 $228.09 $40,798.90
124 $40,798.90 $230.52 $0.00 $230.68 $41,260.10
125 $41,260.10 $230.52 $0.00 $233.29 $41,723.91
126 $41,723.91 $230.52 $0.00 $235.91 $42,190.34
127 $42,190.34 $230.52 $0.00 $238.55 $42,659.41
128 $42,659.41 $230.52 $0.00 $241.20 $43,131.13
129 $43,131.13 $230.52 $0.00 $243.87 $43,605.52
130 $43,605.52 $230.52 $0.00 $246.55 $44,082.59
131 $44,082.59 $230.52 $0.00 $249.25 $44,562.36
132 $44,562.36 $230.52 $0.00 $251.96 $45,044.84
133 $45,044.84 $230.52 $0.00 $254.69 $45,530.05
134 $45,530.05 $230.52 $0.00 $257.43 $46,018.00
135 $46,018.00 $230.52 $0.00 $260.19 $46,508.71
136 $46,508.71 $230.52 $0.00 $262.97 $47,002.20
137 $47,002.20 $230.52 $0.00 $265.76 $47,498.48
138 $47,498.48 $230.52 $0.00 $268.56 $47,997.56
139 $47,997.56 $230.52 $0.00 $271.39 $48,499.47
140 $48,499.47 $230.52 $0.00 $274.22 $49,004.21
141 $49,004.21 $230.52 $0.00 $277.08 $49,511.81
142 $49,511.81 $230.52 $0.00 $279.95 $50,022.28
143 $50,022.28 $230.52 $0.00 $282.83 $50,535.63
144 $50,535.63 $230.52 $0.00 $285.74 $51,051.89
145 $51,051.89 $230.52 $0.00 $288.65 $51,571.06
146 $51,571.06 $230.52 $0.00 $291.59 $52,093.17
147 $52,093.17 $230.52 $0.00 $294.54 $52,618.23
148 $52,618.23 $230.52 $0.00 $297.51 $53,146.26
149 $53,146.26 $230.52 $0.00 $300.50 $53,677.28
150 $53,677.28 $230.52 $0.00 $303.50 $54,211.30
151 $54,211.30 $230.52 $0.00 $306.52 $54,748.34
152 $54,748.34 $230.52 $0.00 $309.56 $55,288.42
153 $55,288.42 $230.52 $0.00 $312.61 $55,831.55
154 $55,831.55 $230.52 $0.00 $315.68 $56,377.75
155 $56,377.75 $230.52 $0.00 $318.77 $56,927.04
156 $56,927.04 $230.52 $0.00 $321.87 $57,479.43
157 $57,479.43 $230.52 $0.00 $325.00 $58,034.95
158 $58,034.95 $230.52 $0.00 $328.14 $58,593.61
159 $58,593.61 $230.52 $0.00 $331.30 $59,155.43
160 $59,155.43 $230.52 $0.00 $334.47 $59,720.42
161 $59,720.42 $230.52 $0.00 $337.67 $60,288.61
162 $60,288.61 $230.52 $0.00 $340.88 $60,860.01
163 $60,860.01 $230.52 $0.00 $344.11 $61,434.64
164 $61,434.64 $230.52 $0.00 $347.36 $62,012.52
165 $62,012.52 $230.52 $0.00 $350.63 $62,593.67
166 $62,593.67 $230.52 $0.00 $353.91 $63,178.10
167 $63,178.10 $230.52 $0.00 $357.22 $63,765.84
168 $63,765.84 $230.52 $0.00 $360.54 $64,356.90
169 $64,356.90 $230.52 $0.00 $363.88 $64,951.30
170 $64,951.30 $230.52 $0.00 $367.24 $65,549.06
171 $65,549.06 $230.52 $0.00 $370.62 $66,150.20
172 $66,150.20 $230.52 $0.00 $374.02 $66,754.74
173 $66,754.74 $230.52 $0.00 $377.44 $67,362.70
174 $67,362.70 $230.52 $0.00 $380.88 $67,974.10
175 $67,974.10 $230.52 $0.00 $384.34 $68,588.96
176 $68,588.96 $230.52 $0.00 $387.81 $69,207.29
177 $69,207.29 $230.52 $0.00 $391.31 $69,829.12
178 $69,829.12 $230.52 $0.00 $394.82 $70,454.46
179 $70,454.46 $230.52 $0.00 $398.36 $71,083.34
180 $71,083.34 $230.52 $0.00 $401.92 $71,715.78
181 $71,715.78 $230.52 $0.00 $405.49 $72,351.79
182 $72,351.79 $230.52 $0.00 $409.09 $72,991.40
183 $72,991.40 $230.52 $0.00 $412.70 $73,634.62
184 $73,634.62 $230.52 $0.00 $416.34 $74,281.48
185 $74,281.48 $230.52 $0.00 $420.00 $74,932.00
186 $74,932.00 $230.52 $0.00 $423.68 $75,586.20
187 $75,586.20 $230.52 $0.00 $427.38 $76,244.10
188 $76,244.10 $230.52 $0.00 $431.10 $76,905.72
189 $76,905.72 $230.52 $0.00 $434.84 $77,571.08
190 $77,571.08 $230.52 $0.00 $438.60 $78,240.20
191 $78,240.20 $230.52 $0.00 $442.38 $78,913.10
192 $78,913.10 $230.52 $0.00 $446.19 $79,589.81
193 $79,589.81 $230.52 $0.00 $450.01 $80,270.34
194 $80,270.34 $230.52 $0.00 $453.86 $80,954.72
195 $80,954.72 $230.52 $0.00 $457.73 $81,642.97
196 $81,642.97 $230.52 $0.00 $461.62 $82,335.11
197 $82,335.11 $230.52 $0.00 $465.53 $83,031.16
198 $83,031.16 $230.52 $0.00 $469.47 $83,731.15
199 $83,731.15 $230.52 $0.00 $473.43 $84,435.10
200 $84,435.10 $230.52 $0.00 $477.41 $85,143.03
201 $85,143.03 $230.52 $0.00 $481.41 $85,854.96
202 $85,854.96 $230.52 $0.00 $485.44 $86,570.92
203 $86,570.92 $230.52 $0.00 $489.48 $87,290.92
204 $87,290.92 $230.52 $0.00 $493.56 $88,015.00
205 $88,015.00 $230.52 $0.00 $497.65 $88,743.17
206 $88,743.17 $230.52 $0.00 $501.77 $89,475.46
207 $89,475.46 $230.52 $0.00 $505.91 $90,211.89
208 $90,211.89 $230.52 $0.00 $510.07 $90,952.48
209 $90,952.48 $230.52 $0.00 $514.26 $91,697.26
210 $91,697.26 $230.52 $0.00 $518.47 $92,446.25
211 $92,446.25 $230.52 $0.00 $522.70 $93,199.47
212 $93,199.47 $230.52 $0.00 $526.96 $93,956.95
213 $93,956.95 $230.52 $0.00 $531.25 $94,718.72
214 $94,718.72 $230.52 $0.00 $535.55 $95,484.79
215 $95,484.79 $230.52 $0.00 $539.88 $96,255.19
216 $96,255.19 $230.52 $0.00 $544.24 $97,029.95
217 $97,029.95 $230.52 $50,603.98 $548.62 $47,205.11
218 $47,205.11 $230.52 $0.00 $266.90 $47,702.53
219 $47,702.53 $230.52 $0.00 $269.72 $48,202.77
220 $48,202.77 $230.52 $0.00 $272.55 $48,705.84
221 $48,705.84 $230.52 $0.00 $275.39 $49,211.75
222 $49,211.75 $230.52 $0.00 $278.25 $49,720.52
223 $49,720.52 $230.52 $0.00 $281.13 $50,232.17
224 $50,232.17 $230.52 $0.00 $284.02 $50,746.71
225 $50,746.71 $230.52 $0.00 $286.93 $51,264.16
226 $51,264.16 $230.52 $0.00 $289.86 $51,784.54
227 $51,784.54 $230.52 $0.00 $292.80 $52,307.86
228 $52,307.86 $230.52 $0.00 $295.76 $52,834.14
229 $52,834.14 $0.00 $53,134.18 $298.73 ($1.31)