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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$30,889
Monthly savings required$137

How much will it cost to send your child to South Plains College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $61,778.16 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $137.28 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$12,522.00
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 $137.28 $0.00 $0.00 $137.28
2 $137.28 $137.28 $0.00 $0.78 $275.34
3 $275.34 $137.28 $0.00 $1.56 $414.18
4 $414.18 $137.28 $0.00 $2.34 $553.80
5 $553.80 $137.28 $0.00 $3.13 $694.21
6 $694.21 $137.28 $0.00 $3.93 $835.42
7 $835.42 $137.28 $0.00 $4.72 $977.42
8 $977.42 $137.28 $0.00 $5.53 $1,120.23
9 $1,120.23 $137.28 $0.00 $6.33 $1,263.84
10 $1,263.84 $137.28 $0.00 $7.15 $1,408.27
11 $1,408.27 $137.28 $0.00 $7.96 $1,553.51
12 $1,553.51 $137.28 $0.00 $8.78 $1,699.57
13 $1,699.57 $137.28 $0.00 $9.61 $1,846.46
14 $1,846.46 $137.28 $0.00 $10.44 $1,994.18
15 $1,994.18 $137.28 $0.00 $11.28 $2,142.74
16 $2,142.74 $137.28 $0.00 $12.12 $2,292.14
17 $2,292.14 $137.28 $0.00 $12.96 $2,442.38
18 $2,442.38 $137.28 $0.00 $13.81 $2,593.47
19 $2,593.47 $137.28 $0.00 $14.66 $2,745.41
20 $2,745.41 $137.28 $0.00 $15.52 $2,898.21
21 $2,898.21 $137.28 $0.00 $16.39 $3,051.88
22 $3,051.88 $137.28 $0.00 $17.26 $3,206.42
23 $3,206.42 $137.28 $0.00 $18.13 $3,361.83
24 $3,361.83 $137.28 $0.00 $19.01 $3,518.12
25 $3,518.12 $137.28 $0.00 $19.89 $3,675.29
26 $3,675.29 $137.28 $0.00 $20.78 $3,833.35
27 $3,833.35 $137.28 $0.00 $21.67 $3,992.30
28 $3,992.30 $137.28 $0.00 $22.57 $4,152.15
29 $4,152.15 $137.28 $0.00 $23.48 $4,312.91
30 $4,312.91 $137.28 $0.00 $24.39 $4,474.58
31 $4,474.58 $137.28 $0.00 $25.30 $4,637.16
32 $4,637.16 $137.28 $0.00 $26.22 $4,800.66
33 $4,800.66 $137.28 $0.00 $27.14 $4,965.08
34 $4,965.08 $137.28 $0.00 $28.07 $5,130.43
35 $5,130.43 $137.28 $0.00 $29.01 $5,296.72
36 $5,296.72 $137.28 $0.00 $29.95 $5,463.95
37 $5,463.95 $137.28 $0.00 $30.89 $5,632.12
38 $5,632.12 $137.28 $0.00 $31.84 $5,801.24
39 $5,801.24 $137.28 $0.00 $32.80 $5,971.32
40 $5,971.32 $137.28 $0.00 $33.76 $6,142.36
41 $6,142.36 $137.28 $0.00 $34.73 $6,314.37
42 $6,314.37 $137.28 $0.00 $35.70 $6,487.35
43 $6,487.35 $137.28 $0.00 $36.68 $6,661.31
44 $6,661.31 $137.28 $0.00 $37.66 $6,836.25
45 $6,836.25 $137.28 $0.00 $38.65 $7,012.18
46 $7,012.18 $137.28 $0.00 $39.65 $7,189.11
47 $7,189.11 $137.28 $0.00 $40.65 $7,367.04
48 $7,367.04 $137.28 $0.00 $41.65 $7,545.97
49 $7,545.97 $137.28 $0.00 $42.67 $7,725.92
50 $7,725.92 $137.28 $0.00 $43.68 $7,906.88
51 $7,906.88 $137.28 $0.00 $44.71 $8,088.87
52 $8,088.87 $137.28 $0.00 $45.74 $8,271.89
53 $8,271.89 $137.28 $0.00 $46.77 $8,455.94
54 $8,455.94 $137.28 $0.00 $47.81 $8,641.03
55 $8,641.03 $137.28 $0.00 $48.86 $8,827.17
56 $8,827.17 $137.28 $0.00 $49.91 $9,014.36
57 $9,014.36 $137.28 $0.00 $50.97 $9,202.61
58 $9,202.61 $137.28 $0.00 $52.03 $9,391.92
59 $9,391.92 $137.28 $0.00 $53.10 $9,582.30
60 $9,582.30 $137.28 $0.00 $54.18 $9,773.76
61 $9,773.76 $137.28 $0.00 $55.26 $9,966.30
62 $9,966.30 $137.28 $0.00 $56.35 $10,159.93
63 $10,159.93 $137.28 $0.00 $57.45 $10,354.66
64 $10,354.66 $137.28 $0.00 $58.55 $10,550.49
65 $10,550.49 $137.28 $0.00 $59.65 $10,747.42
66 $10,747.42 $137.28 $0.00 $60.77 $10,945.47
67 $10,945.47 $137.28 $0.00 $61.89 $11,144.64
68 $11,144.64 $137.28 $0.00 $63.01 $11,344.93
69 $11,344.93 $137.28 $0.00 $64.15 $11,546.36
70 $11,546.36 $137.28 $0.00 $65.28 $11,748.92
71 $11,748.92 $137.28 $0.00 $66.43 $11,952.63
72 $11,952.63 $137.28 $0.00 $67.58 $12,157.49
73 $12,157.49 $137.28 $0.00 $68.74 $12,363.51
74 $12,363.51 $137.28 $0.00 $69.91 $12,570.70
75 $12,570.70 $137.28 $0.00 $71.08 $12,779.06
76 $12,779.06 $137.28 $0.00 $72.25 $12,988.59
77 $12,988.59 $137.28 $0.00 $73.44 $13,199.31
78 $13,199.31 $137.28 $0.00 $74.63 $13,411.22
79 $13,411.22 $137.28 $0.00 $75.83 $13,624.33
80 $13,624.33 $137.28 $0.00 $77.03 $13,838.64
81 $13,838.64 $137.28 $0.00 $78.25 $14,054.17
82 $14,054.17 $137.28 $0.00 $79.46 $14,270.91
83 $14,270.91 $137.28 $0.00 $80.69 $14,488.88
84 $14,488.88 $137.28 $0.00 $81.92 $14,708.08
85 $14,708.08 $137.28 $0.00 $83.16 $14,928.52
86 $14,928.52 $137.28 $0.00 $84.41 $15,150.21
87 $15,150.21 $137.28 $0.00 $85.66 $15,373.15
88 $15,373.15 $137.28 $0.00 $86.92 $15,597.35
89 $15,597.35 $137.28 $0.00 $88.19 $15,822.82
90 $15,822.82 $137.28 $0.00 $89.46 $16,049.56
91 $16,049.56 $137.28 $0.00 $90.75 $16,277.59
92 $16,277.59 $137.28 $0.00 $92.04 $16,506.91
93 $16,506.91 $137.28 $0.00 $93.33 $16,737.52
94 $16,737.52 $137.28 $0.00 $94.64 $16,969.44
95 $16,969.44 $137.28 $0.00 $95.95 $17,202.67
96 $17,202.67 $137.28 $0.00 $97.27 $17,437.22
97 $17,437.22 $137.28 $0.00 $98.59 $17,673.09
98 $17,673.09 $137.28 $0.00 $99.93 $17,910.30
99 $17,910.30 $137.28 $0.00 $101.27 $18,148.85
100 $18,148.85 $137.28 $0.00 $102.62 $18,388.75
101 $18,388.75 $137.28 $0.00 $103.97 $18,630.00
102 $18,630.00 $137.28 $0.00 $105.34 $18,872.62
103 $18,872.62 $137.28 $0.00 $106.71 $19,116.61
104 $19,116.61 $137.28 $0.00 $108.09 $19,361.98
105 $19,361.98 $137.28 $0.00 $109.48 $19,608.74
106 $19,608.74 $137.28 $0.00 $110.87 $19,856.89
107 $19,856.89 $137.28 $0.00 $112.27 $20,106.44
108 $20,106.44 $137.28 $0.00 $113.68 $20,357.40
109 $20,357.40 $137.28 $0.00 $115.10 $20,609.78
110 $20,609.78 $137.28 $0.00 $116.53 $20,863.59
111 $20,863.59 $137.28 $0.00 $117.97 $21,118.84
112 $21,118.84 $137.28 $0.00 $119.41 $21,375.53
113 $21,375.53 $137.28 $0.00 $120.86 $21,633.67
114 $21,633.67 $137.28 $0.00 $122.32 $21,893.27
115 $21,893.27 $137.28 $0.00 $123.79 $22,154.34
116 $22,154.34 $137.28 $0.00 $125.26 $22,416.88
117 $22,416.88 $137.28 $0.00 $126.75 $22,680.91
118 $22,680.91 $137.28 $0.00 $128.24 $22,946.43
119 $22,946.43 $137.28 $0.00 $129.74 $23,213.45
120 $23,213.45 $137.28 $0.00 $131.25 $23,481.98
121 $23,481.98 $137.28 $0.00 $132.77 $23,752.03
122 $23,752.03 $137.28 $0.00 $134.30 $24,023.61
123 $24,023.61 $137.28 $0.00 $135.83 $24,296.72
124 $24,296.72 $137.28 $0.00 $137.38 $24,571.38
125 $24,571.38 $137.28 $0.00 $138.93 $24,847.59
126 $24,847.59 $137.28 $0.00 $140.49 $25,125.36
127 $25,125.36 $137.28 $0.00 $142.06 $25,404.70
128 $25,404.70 $137.28 $0.00 $143.64 $25,685.62
129 $25,685.62 $137.28 $0.00 $145.23 $25,968.13
130 $25,968.13 $137.28 $0.00 $146.83 $26,252.24
131 $26,252.24 $137.28 $0.00 $148.43 $26,537.95
132 $26,537.95 $137.28 $0.00 $150.05 $26,825.28
133 $26,825.28 $137.28 $0.00 $151.67 $27,114.23
134 $27,114.23 $137.28 $0.00 $153.31 $27,404.82
135 $27,404.82 $137.28 $0.00 $154.95 $27,697.05
136 $27,697.05 $137.28 $0.00 $156.60 $27,990.93
137 $27,990.93 $137.28 $0.00 $158.26 $28,286.47
138 $28,286.47 $137.28 $0.00 $159.94 $28,583.69
139 $28,583.69 $137.28 $0.00 $161.62 $28,882.59
140 $28,882.59 $137.28 $0.00 $163.31 $29,183.18
141 $29,183.18 $137.28 $0.00 $165.01 $29,485.47
142 $29,485.47 $137.28 $0.00 $166.72 $29,789.47
143 $29,789.47 $137.28 $0.00 $168.43 $30,095.18
144 $30,095.18 $137.28 $0.00 $170.16 $30,402.62
145 $30,402.62 $137.28 $0.00 $171.90 $30,711.80
146 $30,711.80 $137.28 $0.00 $173.65 $31,022.73
147 $31,022.73 $137.28 $0.00 $175.41 $31,335.42
148 $31,335.42 $137.28 $0.00 $177.18 $31,649.88
149 $31,649.88 $137.28 $0.00 $178.95 $31,966.11
150 $31,966.11 $137.28 $0.00 $180.74 $32,284.13
151 $32,284.13 $137.28 $0.00 $182.54 $32,603.95
152 $32,603.95 $137.28 $0.00 $184.35 $32,925.58
153 $32,925.58 $137.28 $0.00 $186.17 $33,249.03
154 $33,249.03 $137.28 $0.00 $187.99 $33,574.30
155 $33,574.30 $137.28 $0.00 $189.83 $33,901.41
156 $33,901.41 $137.28 $0.00 $191.68 $34,230.37
157 $34,230.37 $137.28 $0.00 $193.54 $34,561.19
158 $34,561.19 $137.28 $0.00 $195.41 $34,893.88
159 $34,893.88 $137.28 $0.00 $197.30 $35,228.46
160 $35,228.46 $137.28 $0.00 $199.19 $35,564.93
161 $35,564.93 $137.28 $0.00 $201.09 $35,903.30
162 $35,903.30 $137.28 $0.00 $203.00 $36,243.58
163 $36,243.58 $137.28 $0.00 $204.93 $36,585.79
164 $36,585.79 $137.28 $0.00 $206.86 $36,929.93
165 $36,929.93 $137.28 $0.00 $208.81 $37,276.02
166 $37,276.02 $137.28 $0.00 $210.76 $37,624.06
167 $37,624.06 $137.28 $0.00 $212.73 $37,974.07
168 $37,974.07 $137.28 $0.00 $214.71 $38,326.06
169 $38,326.06 $137.28 $0.00 $216.70 $38,680.04
170 $38,680.04 $137.28 $0.00 $218.70 $39,036.02
171 $39,036.02 $137.28 $0.00 $220.72 $39,394.02
172 $39,394.02 $137.28 $0.00 $222.74 $39,754.04
173 $39,754.04 $137.28 $0.00 $224.78 $40,116.10
174 $40,116.10 $137.28 $0.00 $226.82 $40,480.20
175 $40,480.20 $137.28 $0.00 $228.88 $40,846.36
176 $40,846.36 $137.28 $0.00 $230.95 $41,214.59
177 $41,214.59 $137.28 $0.00 $233.03 $41,584.90
178 $41,584.90 $137.28 $0.00 $235.13 $41,957.31
179 $41,957.31 $137.28 $0.00 $237.23 $42,331.82
180 $42,331.82 $137.28 $0.00 $239.35 $42,708.45
181 $42,708.45 $137.28 $0.00 $241.48 $43,087.21
182 $43,087.21 $137.28 $0.00 $243.62 $43,468.11
183 $43,468.11 $137.28 $0.00 $245.78 $43,851.17
184 $43,851.17 $137.28 $0.00 $247.94 $44,236.39
185 $44,236.39 $137.28 $0.00 $250.12 $44,623.79
186 $44,623.79 $137.28 $0.00 $252.31 $45,013.38
187 $45,013.38 $137.28 $0.00 $254.51 $45,405.17
188 $45,405.17 $137.28 $0.00 $256.73 $45,799.18
189 $45,799.18 $137.28 $0.00 $258.96 $46,195.42
190 $46,195.42 $137.28 $0.00 $261.20 $46,593.90
191 $46,593.90 $137.28 $0.00 $263.45 $46,994.63
192 $46,994.63 $137.28 $0.00 $265.71 $47,397.62
193 $47,397.62 $137.28 $0.00 $267.99 $47,802.89
194 $47,802.89 $137.28 $0.00 $270.28 $48,210.45
195 $48,210.45 $137.28 $0.00 $272.59 $48,620.32
196 $48,620.32 $137.28 $0.00 $274.91 $49,032.51
197 $49,032.51 $137.28 $0.00 $277.24 $49,447.03
198 $49,447.03 $137.28 $0.00 $279.58 $49,863.89
199 $49,863.89 $137.28 $0.00 $281.94 $50,283.11
200 $50,283.11 $137.28 $0.00 $284.31 $50,704.70
201 $50,704.70 $137.28 $0.00 $286.69 $51,128.67
202 $51,128.67 $137.28 $0.00 $289.09 $51,555.04
203 $51,555.04 $137.28 $0.00 $291.50 $51,983.82
204 $51,983.82 $137.28 $0.00 $293.92 $52,415.02
205 $52,415.02 $137.28 $0.00 $296.36 $52,848.66
206 $52,848.66 $137.28 $0.00 $298.81 $53,284.75
207 $53,284.75 $137.28 $0.00 $301.28 $53,723.31
208 $53,723.31 $137.28 $0.00 $303.76 $54,164.35
209 $54,164.35 $137.28 $0.00 $306.25 $54,607.88
210 $54,607.88 $137.28 $0.00 $308.76 $55,053.92
211 $55,053.92 $137.28 $0.00 $311.28 $55,502.48
212 $55,502.48 $137.28 $0.00 $313.82 $55,953.58
213 $55,953.58 $137.28 $0.00 $316.37 $56,407.23
214 $56,407.23 $137.28 $0.00 $318.93 $56,863.44
215 $56,863.44 $137.28 $0.00 $321.51 $57,322.23
216 $57,322.23 $137.28 $0.00 $324.11 $57,783.62
217 $57,783.62 $137.28 $30,135.69 $326.72 $28,111.93
218 $28,111.93 $137.28 $0.00 $158.95 $28,408.16
219 $28,408.16 $137.28 $0.00 $160.62 $28,706.06
220 $28,706.06 $137.28 $0.00 $162.31 $29,005.65
221 $29,005.65 $137.28 $0.00 $164.00 $29,306.93
222 $29,306.93 $137.28 $0.00 $165.71 $29,609.92
223 $29,609.92 $137.28 $0.00 $167.42 $29,914.62
224 $29,914.62 $137.28 $0.00 $169.14 $30,221.04
225 $30,221.04 $137.28 $0.00 $170.87 $30,529.19
226 $30,529.19 $137.28 $0.00 $172.62 $30,839.09
227 $30,839.09 $137.28 $0.00 $174.37 $31,150.74
228 $31,150.74 $137.28 $0.00 $176.13 $31,464.15
229 $31,464.15 $0.00 $31,642.47 $177.90 ($0.42)