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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$51,632
Monthly savings required$229

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 $103,264.54 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $229.47 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$20,931.00
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 $229.47 $0.00 $0.00 $229.47
2 $229.47 $229.47 $0.00 $1.30 $460.24
3 $460.24 $229.47 $0.00 $2.60 $692.31
4 $692.31 $229.47 $0.00 $3.91 $925.69
5 $925.69 $229.47 $0.00 $5.23 $1,160.39
6 $1,160.39 $229.47 $0.00 $6.56 $1,396.42
7 $1,396.42 $229.47 $0.00 $7.90 $1,633.79
8 $1,633.79 $229.47 $0.00 $9.24 $1,872.50
9 $1,872.50 $229.47 $0.00 $10.59 $2,112.56
10 $2,112.56 $229.47 $0.00 $11.94 $2,353.97
11 $2,353.97 $229.47 $0.00 $13.31 $2,596.75
12 $2,596.75 $229.47 $0.00 $14.68 $2,840.90
13 $2,840.90 $229.47 $0.00 $16.06 $3,086.43
14 $3,086.43 $229.47 $0.00 $17.45 $3,333.35
15 $3,333.35 $229.47 $0.00 $18.85 $3,581.67
16 $3,581.67 $229.47 $0.00 $20.25 $3,831.39
17 $3,831.39 $229.47 $0.00 $21.66 $4,082.52
18 $4,082.52 $229.47 $0.00 $23.08 $4,335.07
19 $4,335.07 $229.47 $0.00 $24.51 $4,589.05
20 $4,589.05 $229.47 $0.00 $25.95 $4,844.47
21 $4,844.47 $229.47 $0.00 $27.39 $5,101.33
22 $5,101.33 $229.47 $0.00 $28.84 $5,359.64
23 $5,359.64 $229.47 $0.00 $30.30 $5,619.41
24 $5,619.41 $229.47 $0.00 $31.77 $5,880.65
25 $5,880.65 $229.47 $0.00 $33.25 $6,143.37
26 $6,143.37 $229.47 $0.00 $34.74 $6,407.58
27 $6,407.58 $229.47 $0.00 $36.23 $6,673.28
28 $6,673.28 $229.47 $0.00 $37.73 $6,940.48
29 $6,940.48 $229.47 $0.00 $39.24 $7,209.19
30 $7,209.19 $229.47 $0.00 $40.76 $7,479.42
31 $7,479.42 $229.47 $0.00 $42.29 $7,751.18
32 $7,751.18 $229.47 $0.00 $43.83 $8,024.48
33 $8,024.48 $229.47 $0.00 $45.37 $8,299.32
34 $8,299.32 $229.47 $0.00 $46.93 $8,575.72
35 $8,575.72 $229.47 $0.00 $48.49 $8,853.68
36 $8,853.68 $229.47 $0.00 $50.06 $9,133.21
37 $9,133.21 $229.47 $0.00 $51.64 $9,414.32
38 $9,414.32 $229.47 $0.00 $53.23 $9,697.02
39 $9,697.02 $229.47 $0.00 $54.83 $9,981.32
40 $9,981.32 $229.47 $0.00 $56.44 $10,267.23
41 $10,267.23 $229.47 $0.00 $58.05 $10,554.75
42 $10,554.75 $229.47 $0.00 $59.68 $10,843.90
43 $10,843.90 $229.47 $0.00 $61.31 $11,134.68
44 $11,134.68 $229.47 $0.00 $62.96 $11,427.11
45 $11,427.11 $229.47 $0.00 $64.61 $11,721.19
46 $11,721.19 $229.47 $0.00 $66.27 $12,016.93
47 $12,016.93 $229.47 $0.00 $67.95 $12,314.35
48 $12,314.35 $229.47 $0.00 $69.63 $12,613.45
49 $12,613.45 $229.47 $0.00 $71.32 $12,914.24
50 $12,914.24 $229.47 $0.00 $73.02 $13,216.73
51 $13,216.73 $229.47 $0.00 $74.73 $13,520.93
52 $13,520.93 $229.47 $0.00 $76.45 $13,826.85
53 $13,826.85 $229.47 $0.00 $78.18 $14,134.50
54 $14,134.50 $229.47 $0.00 $79.92 $14,443.89
55 $14,443.89 $229.47 $0.00 $81.67 $14,755.03
56 $14,755.03 $229.47 $0.00 $83.43 $15,067.93
57 $15,067.93 $229.47 $0.00 $85.20 $15,382.60
58 $15,382.60 $229.47 $0.00 $86.98 $15,699.05
59 $15,699.05 $229.47 $0.00 $88.76 $16,017.28
60 $16,017.28 $229.47 $0.00 $90.56 $16,337.31
61 $16,337.31 $229.47 $0.00 $92.37 $16,659.15
62 $16,659.15 $229.47 $0.00 $94.19 $16,982.81
63 $16,982.81 $229.47 $0.00 $96.02 $17,308.30
64 $17,308.30 $229.47 $0.00 $97.86 $17,635.63
65 $17,635.63 $229.47 $0.00 $99.71 $17,964.81
66 $17,964.81 $229.47 $0.00 $101.58 $18,295.86
67 $18,295.86 $229.47 $0.00 $103.45 $18,628.78
68 $18,628.78 $229.47 $0.00 $105.33 $18,963.58
69 $18,963.58 $229.47 $0.00 $107.22 $19,300.27
70 $19,300.27 $229.47 $0.00 $109.13 $19,638.87
71 $19,638.87 $229.47 $0.00 $111.04 $19,979.38
72 $19,979.38 $229.47 $0.00 $112.97 $20,321.82
73 $20,321.82 $229.47 $0.00 $114.90 $20,666.19
74 $20,666.19 $229.47 $0.00 $116.85 $21,012.51
75 $21,012.51 $229.47 $0.00 $118.81 $21,360.79
76 $21,360.79 $229.47 $0.00 $120.78 $21,711.04
77 $21,711.04 $229.47 $0.00 $122.76 $22,063.27
78 $22,063.27 $229.47 $0.00 $124.75 $22,417.49
79 $22,417.49 $229.47 $0.00 $126.75 $22,773.71
80 $22,773.71 $229.47 $0.00 $128.77 $23,131.95
81 $23,131.95 $229.47 $0.00 $130.79 $23,492.21
82 $23,492.21 $229.47 $0.00 $132.83 $23,854.51
83 $23,854.51 $229.47 $0.00 $134.88 $24,218.86
84 $24,218.86 $229.47 $0.00 $136.94 $24,585.27
85 $24,585.27 $229.47 $0.00 $139.01 $24,953.75
86 $24,953.75 $229.47 $0.00 $141.09 $25,324.31
87 $25,324.31 $229.47 $0.00 $143.19 $25,696.97
88 $25,696.97 $229.47 $0.00 $145.29 $26,071.73
89 $26,071.73 $229.47 $0.00 $147.41 $26,448.61
90 $26,448.61 $229.47 $0.00 $149.54 $26,827.62
91 $26,827.62 $229.47 $0.00 $151.69 $27,208.78
92 $27,208.78 $229.47 $0.00 $153.84 $27,592.09
93 $27,592.09 $229.47 $0.00 $156.01 $27,977.57
94 $27,977.57 $229.47 $0.00 $158.19 $28,365.23
95 $28,365.23 $229.47 $0.00 $160.38 $28,755.08
96 $28,755.08 $229.47 $0.00 $162.59 $29,147.14
97 $29,147.14 $229.47 $0.00 $164.80 $29,541.41
98 $29,541.41 $229.47 $0.00 $167.03 $29,937.91
99 $29,937.91 $229.47 $0.00 $169.27 $30,336.65
100 $30,336.65 $229.47 $0.00 $171.53 $30,737.65
101 $30,737.65 $229.47 $0.00 $173.80 $31,140.92
102 $31,140.92 $229.47 $0.00 $176.08 $31,546.47
103 $31,546.47 $229.47 $0.00 $178.37 $31,954.31
104 $31,954.31 $229.47 $0.00 $180.67 $32,364.45
105 $32,364.45 $229.47 $0.00 $182.99 $32,776.91
106 $32,776.91 $229.47 $0.00 $185.33 $33,191.71
107 $33,191.71 $229.47 $0.00 $187.67 $33,608.85
108 $33,608.85 $229.47 $0.00 $190.03 $34,028.35
109 $34,028.35 $229.47 $0.00 $192.40 $34,450.22
110 $34,450.22 $229.47 $0.00 $194.79 $34,874.48
111 $34,874.48 $229.47 $0.00 $197.19 $35,301.14
112 $35,301.14 $229.47 $0.00 $199.60 $35,730.21
113 $35,730.21 $229.47 $0.00 $202.02 $36,161.70
114 $36,161.70 $229.47 $0.00 $204.46 $36,595.63
115 $36,595.63 $229.47 $0.00 $206.92 $37,032.02
116 $37,032.02 $229.47 $0.00 $209.38 $37,470.87
117 $37,470.87 $229.47 $0.00 $211.87 $37,912.21
118 $37,912.21 $229.47 $0.00 $214.36 $38,356.04
119 $38,356.04 $229.47 $0.00 $216.87 $38,802.38
120 $38,802.38 $229.47 $0.00 $219.39 $39,251.24
121 $39,251.24 $229.47 $0.00 $221.93 $39,702.64
122 $39,702.64 $229.47 $0.00 $224.48 $40,156.59
123 $40,156.59 $229.47 $0.00 $227.05 $40,613.11
124 $40,613.11 $229.47 $0.00 $229.63 $41,072.21
125 $41,072.21 $229.47 $0.00 $232.23 $41,533.91
126 $41,533.91 $229.47 $0.00 $234.84 $41,998.22
127 $41,998.22 $229.47 $0.00 $237.46 $42,465.15
128 $42,465.15 $229.47 $0.00 $240.10 $42,934.72
129 $42,934.72 $229.47 $0.00 $242.76 $43,406.95
130 $43,406.95 $229.47 $0.00 $245.43 $43,881.85
131 $43,881.85 $229.47 $0.00 $248.11 $44,359.43
132 $44,359.43 $229.47 $0.00 $250.81 $44,839.71
133 $44,839.71 $229.47 $0.00 $253.53 $45,322.71
134 $45,322.71 $229.47 $0.00 $256.26 $45,808.44
135 $45,808.44 $229.47 $0.00 $259.01 $46,296.92
136 $46,296.92 $229.47 $0.00 $261.77 $46,788.16
137 $46,788.16 $229.47 $0.00 $264.55 $47,282.18
138 $47,282.18 $229.47 $0.00 $267.34 $47,778.99
139 $47,778.99 $229.47 $0.00 $270.15 $48,278.61
140 $48,278.61 $229.47 $0.00 $272.97 $48,781.05
141 $48,781.05 $229.47 $0.00 $275.82 $49,286.34
142 $49,286.34 $229.47 $0.00 $278.67 $49,794.48
143 $49,794.48 $229.47 $0.00 $281.55 $50,305.50
144 $50,305.50 $229.47 $0.00 $284.43 $50,819.40
145 $50,819.40 $229.47 $0.00 $287.34 $51,336.21
146 $51,336.21 $229.47 $0.00 $290.26 $51,855.94
147 $51,855.94 $229.47 $0.00 $293.20 $52,378.61
148 $52,378.61 $229.47 $0.00 $296.16 $52,904.24
149 $52,904.24 $229.47 $0.00 $299.13 $53,432.84
150 $53,432.84 $229.47 $0.00 $302.12 $53,964.43
151 $53,964.43 $229.47 $0.00 $305.12 $54,499.02
152 $54,499.02 $229.47 $0.00 $308.15 $55,036.64
153 $55,036.64 $229.47 $0.00 $311.19 $55,577.30
154 $55,577.30 $229.47 $0.00 $314.24 $56,121.01
155 $56,121.01 $229.47 $0.00 $317.32 $56,667.80
156 $56,667.80 $229.47 $0.00 $320.41 $57,217.68
157 $57,217.68 $229.47 $0.00 $323.52 $57,770.67
158 $57,770.67 $229.47 $0.00 $326.64 $58,326.78
159 $58,326.78 $229.47 $0.00 $329.79 $58,886.04
160 $58,886.04 $229.47 $0.00 $332.95 $59,448.46
161 $59,448.46 $229.47 $0.00 $336.13 $60,014.06
162 $60,014.06 $229.47 $0.00 $339.33 $60,582.86
163 $60,582.86 $229.47 $0.00 $342.54 $61,154.87
164 $61,154.87 $229.47 $0.00 $345.78 $61,730.12
165 $61,730.12 $229.47 $0.00 $349.03 $62,308.62
166 $62,308.62 $229.47 $0.00 $352.30 $62,890.39
167 $62,890.39 $229.47 $0.00 $355.59 $63,475.45
168 $63,475.45 $229.47 $0.00 $358.90 $64,063.82
169 $64,063.82 $229.47 $0.00 $362.23 $64,655.52
170 $64,655.52 $229.47 $0.00 $365.57 $65,250.56
171 $65,250.56 $229.47 $0.00 $368.94 $65,848.97
172 $65,848.97 $229.47 $0.00 $372.32 $66,450.76
173 $66,450.76 $229.47 $0.00 $375.72 $67,055.95
174 $67,055.95 $229.47 $0.00 $379.14 $67,664.56
175 $67,664.56 $229.47 $0.00 $382.59 $68,276.62
176 $68,276.62 $229.47 $0.00 $386.05 $68,892.14
177 $68,892.14 $229.47 $0.00 $389.53 $69,511.14
178 $69,511.14 $229.47 $0.00 $393.03 $70,133.64
179 $70,133.64 $229.47 $0.00 $396.55 $70,759.66
180 $70,759.66 $229.47 $0.00 $400.09 $71,389.22
181 $71,389.22 $229.47 $0.00 $403.65 $72,022.34
182 $72,022.34 $229.47 $0.00 $407.22 $72,659.03
183 $72,659.03 $229.47 $0.00 $410.82 $73,299.32
184 $73,299.32 $229.47 $0.00 $414.45 $73,943.24
185 $73,943.24 $229.47 $0.00 $418.09 $74,590.80
186 $74,590.80 $229.47 $0.00 $421.75 $75,242.02
187 $75,242.02 $229.47 $0.00 $425.43 $75,896.92
188 $75,896.92 $229.47 $0.00 $429.13 $76,555.52
189 $76,555.52 $229.47 $0.00 $432.86 $77,217.85
190 $77,217.85 $229.47 $0.00 $436.60 $77,883.92
191 $77,883.92 $229.47 $0.00 $440.37 $78,553.76
192 $78,553.76 $229.47 $0.00 $444.15 $79,227.38
193 $79,227.38 $229.47 $0.00 $447.96 $79,904.81
194 $79,904.81 $229.47 $0.00 $451.79 $80,586.07
195 $80,586.07 $229.47 $0.00 $455.65 $81,271.19
196 $81,271.19 $229.47 $0.00 $459.52 $81,960.18
197 $81,960.18 $229.47 $0.00 $463.41 $82,653.06
198 $82,653.06 $229.47 $0.00 $467.33 $83,349.86
199 $83,349.86 $229.47 $0.00 $471.27 $84,050.60
200 $84,050.60 $229.47 $0.00 $475.23 $84,755.30
201 $84,755.30 $229.47 $0.00 $479.22 $85,463.99
202 $85,463.99 $229.47 $0.00 $483.23 $86,176.69
203 $86,176.69 $229.47 $0.00 $487.26 $86,893.42
204 $86,893.42 $229.47 $0.00 $491.31 $87,614.20
205 $87,614.20 $229.47 $0.00 $495.38 $88,339.05
206 $88,339.05 $229.47 $0.00 $499.48 $89,068.00
207 $89,068.00 $229.47 $0.00 $503.60 $89,801.07
208 $89,801.07 $229.47 $0.00 $507.75 $90,538.29
209 $90,538.29 $229.47 $0.00 $511.92 $91,279.68
210 $91,279.68 $229.47 $0.00 $516.11 $92,025.26
211 $92,025.26 $229.47 $0.00 $520.32 $92,775.05
212 $92,775.05 $229.47 $0.00 $524.56 $93,529.08
213 $93,529.08 $229.47 $0.00 $528.83 $94,287.38
214 $94,287.38 $229.47 $0.00 $533.11 $95,049.96
215 $95,049.96 $229.47 $0.00 $537.43 $95,816.86
216 $95,816.86 $229.47 $0.00 $541.76 $96,588.09
217 $96,588.09 $229.47 $50,372.95 $546.12 $46,990.73
218 $46,990.73 $229.47 $0.00 $265.69 $47,485.89
219 $47,485.89 $229.47 $0.00 $268.49 $47,983.85
220 $47,983.85 $229.47 $0.00 $271.31 $48,484.63
221 $48,484.63 $229.47 $0.00 $274.14 $48,988.24
222 $48,988.24 $229.47 $0.00 $276.99 $49,494.70
223 $49,494.70 $229.47 $0.00 $279.85 $50,004.02
224 $50,004.02 $229.47 $0.00 $282.73 $50,516.22
225 $50,516.22 $229.47 $0.00 $285.63 $51,031.32
226 $51,031.32 $229.47 $0.00 $288.54 $51,549.33
227 $51,549.33 $229.47 $0.00 $291.47 $52,070.27
228 $52,070.27 $229.47 $0.00 $294.41 $52,594.15
229 $52,594.15 $0.00 $52,891.59 $297.37 ($0.07)