Savings Plan and Future Cost Estimation for South Plains College

How much will it cost and what do you need to save?

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$47,537
Monthly savings required$211

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 $95,074.89 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $211.20 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$13,589.00
Years until enrollment18
Annual Tuition Increase7%
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 $211.20 $0.00 $0.00 $211.20
2 $211.20 $211.20 $0.00 $1.19 $423.59
3 $423.59 $211.20 $0.00 $2.40 $637.19
4 $637.19 $211.20 $0.00 $3.60 $851.99
5 $851.99 $211.20 $0.00 $4.82 $1,068.01
6 $1,068.01 $211.20 $0.00 $6.04 $1,285.25
7 $1,285.25 $211.20 $0.00 $7.27 $1,503.72
8 $1,503.72 $211.20 $0.00 $8.50 $1,723.42
9 $1,723.42 $211.20 $0.00 $9.74 $1,944.36
10 $1,944.36 $211.20 $0.00 $10.99 $2,166.55
11 $2,166.55 $211.20 $0.00 $12.25 $2,390.00
12 $2,390.00 $211.20 $0.00 $13.51 $2,614.71
13 $2,614.71 $211.20 $0.00 $14.78 $2,840.69
14 $2,840.69 $211.20 $0.00 $16.06 $3,067.95
15 $3,067.95 $211.20 $0.00 $17.35 $3,296.50
16 $3,296.50 $211.20 $0.00 $18.64 $3,526.34
17 $3,526.34 $211.20 $0.00 $19.94 $3,757.48
18 $3,757.48 $211.20 $0.00 $21.25 $3,989.93
19 $3,989.93 $211.20 $0.00 $22.56 $4,223.69
20 $4,223.69 $211.20 $0.00 $23.88 $4,458.77
21 $4,458.77 $211.20 $0.00 $25.21 $4,695.18
22 $4,695.18 $211.20 $0.00 $26.55 $4,932.93
23 $4,932.93 $211.20 $0.00 $27.89 $5,172.02
24 $5,172.02 $211.20 $0.00 $29.24 $5,412.46
25 $5,412.46 $211.20 $0.00 $30.60 $5,654.26
26 $5,654.26 $211.20 $0.00 $31.97 $5,897.43
27 $5,897.43 $211.20 $0.00 $33.34 $6,141.97
28 $6,141.97 $211.20 $0.00 $34.73 $6,387.90
29 $6,387.90 $211.20 $0.00 $36.12 $6,635.22
30 $6,635.22 $211.20 $0.00 $37.52 $6,883.94
31 $6,883.94 $211.20 $0.00 $38.92 $7,134.06
32 $7,134.06 $211.20 $0.00 $40.34 $7,385.60
33 $7,385.60 $211.20 $0.00 $41.76 $7,638.56
34 $7,638.56 $211.20 $0.00 $43.19 $7,892.95
35 $7,892.95 $211.20 $0.00 $44.63 $8,148.78
36 $8,148.78 $211.20 $0.00 $46.07 $8,406.05
37 $8,406.05 $211.20 $0.00 $47.53 $8,664.78
38 $8,664.78 $211.20 $0.00 $48.99 $8,924.97
39 $8,924.97 $211.20 $0.00 $50.46 $9,186.63
40 $9,186.63 $211.20 $0.00 $51.94 $9,449.77
41 $9,449.77 $211.20 $0.00 $53.43 $9,714.40
42 $9,714.40 $211.20 $0.00 $54.93 $9,980.53
43 $9,980.53 $211.20 $0.00 $56.43 $10,248.16
44 $10,248.16 $211.20 $0.00 $57.94 $10,517.30
45 $10,517.30 $211.20 $0.00 $59.47 $10,787.97
46 $10,787.97 $211.20 $0.00 $61.00 $11,060.17
47 $11,060.17 $211.20 $0.00 $62.54 $11,333.91
48 $11,333.91 $211.20 $0.00 $64.08 $11,609.19
49 $11,609.19 $211.20 $0.00 $65.64 $11,886.03
50 $11,886.03 $211.20 $0.00 $67.21 $12,164.44
51 $12,164.44 $211.20 $0.00 $68.78 $12,444.42
52 $12,444.42 $211.20 $0.00 $70.36 $12,725.98
53 $12,725.98 $211.20 $0.00 $71.95 $13,009.13
54 $13,009.13 $211.20 $0.00 $73.56 $13,293.89
55 $13,293.89 $211.20 $0.00 $75.17 $13,580.26
56 $13,580.26 $211.20 $0.00 $76.78 $13,868.24
57 $13,868.24 $211.20 $0.00 $78.41 $14,157.85
58 $14,157.85 $211.20 $0.00 $80.05 $14,449.10
59 $14,449.10 $211.20 $0.00 $81.70 $14,742.00
60 $14,742.00 $211.20 $0.00 $83.35 $15,036.55
61 $15,036.55 $211.20 $0.00 $85.02 $15,332.77
62 $15,332.77 $211.20 $0.00 $86.69 $15,630.66
63 $15,630.66 $211.20 $0.00 $88.38 $15,930.24
64 $15,930.24 $211.20 $0.00 $90.07 $16,231.51
65 $16,231.51 $211.20 $0.00 $91.78 $16,534.49
66 $16,534.49 $211.20 $0.00 $93.49 $16,839.18
67 $16,839.18 $211.20 $0.00 $95.21 $17,145.59
68 $17,145.59 $211.20 $0.00 $96.94 $17,453.73
69 $17,453.73 $211.20 $0.00 $98.69 $17,763.62
70 $17,763.62 $211.20 $0.00 $100.44 $18,075.26
71 $18,075.26 $211.20 $0.00 $102.20 $18,388.66
72 $18,388.66 $211.20 $0.00 $103.97 $18,703.83
73 $18,703.83 $211.20 $0.00 $105.75 $19,020.78
74 $19,020.78 $211.20 $0.00 $107.55 $19,339.53
75 $19,339.53 $211.20 $0.00 $109.35 $19,660.08
76 $19,660.08 $211.20 $0.00 $111.16 $19,982.44
77 $19,982.44 $211.20 $0.00 $112.98 $20,306.62
78 $20,306.62 $211.20 $0.00 $114.82 $20,632.64
79 $20,632.64 $211.20 $0.00 $116.66 $20,960.50
80 $20,960.50 $211.20 $0.00 $118.51 $21,290.21
81 $21,290.21 $211.20 $0.00 $120.38 $21,621.79
82 $21,621.79 $211.20 $0.00 $122.25 $21,955.24
83 $21,955.24 $211.20 $0.00 $124.14 $22,290.58
84 $22,290.58 $211.20 $0.00 $126.03 $22,627.81
85 $22,627.81 $211.20 $0.00 $127.94 $22,966.95
86 $22,966.95 $211.20 $0.00 $129.86 $23,308.01
87 $23,308.01 $211.20 $0.00 $131.79 $23,651.00
88 $23,651.00 $211.20 $0.00 $133.73 $23,995.93
89 $23,995.93 $211.20 $0.00 $135.68 $24,342.81
90 $24,342.81 $211.20 $0.00 $137.64 $24,691.65
91 $24,691.65 $211.20 $0.00 $139.61 $25,042.46
92 $25,042.46 $211.20 $0.00 $141.59 $25,395.25
93 $25,395.25 $211.20 $0.00 $143.59 $25,750.04
94 $25,750.04 $211.20 $0.00 $145.59 $26,106.83
95 $26,106.83 $211.20 $0.00 $147.61 $26,465.64
96 $26,465.64 $211.20 $0.00 $149.64 $26,826.48
97 $26,826.48 $211.20 $0.00 $151.68 $27,189.36
98 $27,189.36 $211.20 $0.00 $153.73 $27,554.29
99 $27,554.29 $211.20 $0.00 $155.80 $27,921.29
100 $27,921.29 $211.20 $0.00 $157.87 $28,290.36
101 $28,290.36 $211.20 $0.00 $159.96 $28,661.52
102 $28,661.52 $211.20 $0.00 $162.06 $29,034.78
103 $29,034.78 $211.20 $0.00 $164.17 $29,410.15
104 $29,410.15 $211.20 $0.00 $166.29 $29,787.64
105 $29,787.64 $211.20 $0.00 $168.42 $30,167.26
106 $30,167.26 $211.20 $0.00 $170.57 $30,549.03
107 $30,549.03 $211.20 $0.00 $172.73 $30,932.96
108 $30,932.96 $211.20 $0.00 $174.90 $31,319.06
109 $31,319.06 $211.20 $0.00 $177.08 $31,707.34
110 $31,707.34 $211.20 $0.00 $179.28 $32,097.82
111 $32,097.82 $211.20 $0.00 $181.49 $32,490.51
112 $32,490.51 $211.20 $0.00 $183.71 $32,885.42
113 $32,885.42 $211.20 $0.00 $185.94 $33,282.56
114 $33,282.56 $211.20 $0.00 $188.18 $33,681.94
115 $33,681.94 $211.20 $0.00 $190.44 $34,083.58
116 $34,083.58 $211.20 $0.00 $192.71 $34,487.49
117 $34,487.49 $211.20 $0.00 $195.00 $34,893.69
118 $34,893.69 $211.20 $0.00 $197.29 $35,302.18
119 $35,302.18 $211.20 $0.00 $199.60 $35,712.98
120 $35,712.98 $211.20 $0.00 $201.93 $36,126.11
121 $36,126.11 $211.20 $0.00 $204.26 $36,541.57
122 $36,541.57 $211.20 $0.00 $206.61 $36,959.38
123 $36,959.38 $211.20 $0.00 $208.97 $37,379.55
124 $37,379.55 $211.20 $0.00 $211.35 $37,802.10
125 $37,802.10 $211.20 $0.00 $213.74 $38,227.04
126 $38,227.04 $211.20 $0.00 $216.14 $38,654.38
127 $38,654.38 $211.20 $0.00 $218.56 $39,084.14
128 $39,084.14 $211.20 $0.00 $220.99 $39,516.33
129 $39,516.33 $211.20 $0.00 $223.43 $39,950.96
130 $39,950.96 $211.20 $0.00 $225.89 $40,388.05
131 $40,388.05 $211.20 $0.00 $228.36 $40,827.61
132 $40,827.61 $211.20 $0.00 $230.85 $41,269.66
133 $41,269.66 $211.20 $0.00 $233.34 $41,714.20
134 $41,714.20 $211.20 $0.00 $235.86 $42,161.26
135 $42,161.26 $211.20 $0.00 $238.39 $42,610.85
136 $42,610.85 $211.20 $0.00 $240.93 $43,062.98
137 $43,062.98 $211.20 $0.00 $243.48 $43,517.66
138 $43,517.66 $211.20 $0.00 $246.06 $43,974.92
139 $43,974.92 $211.20 $0.00 $248.64 $44,434.76
140 $44,434.76 $211.20 $0.00 $251.24 $44,897.20
141 $44,897.20 $211.20 $0.00 $253.86 $45,362.26
142 $45,362.26 $211.20 $0.00 $256.48 $45,829.94
143 $45,829.94 $211.20 $0.00 $259.13 $46,300.27
144 $46,300.27 $211.20 $0.00 $261.79 $46,773.26
145 $46,773.26 $211.20 $0.00 $264.46 $47,248.92
146 $47,248.92 $211.20 $0.00 $267.15 $47,727.27
147 $47,727.27 $211.20 $0.00 $269.86 $48,208.33
148 $48,208.33 $211.20 $0.00 $272.58 $48,692.11
149 $48,692.11 $211.20 $0.00 $275.31 $49,178.62
150 $49,178.62 $211.20 $0.00 $278.06 $49,667.88
151 $49,667.88 $211.20 $0.00 $280.83 $50,159.91
152 $50,159.91 $211.20 $0.00 $283.61 $50,654.72
153 $50,654.72 $211.20 $0.00 $286.41 $51,152.33
154 $51,152.33 $211.20 $0.00 $289.22 $51,652.75
155 $51,652.75 $211.20 $0.00 $292.05 $52,156.00
156 $52,156.00 $211.20 $0.00 $294.90 $52,662.10
157 $52,662.10 $211.20 $0.00 $297.76 $53,171.06
158 $53,171.06 $211.20 $0.00 $300.64 $53,682.90
159 $53,682.90 $211.20 $0.00 $303.53 $54,197.63
160 $54,197.63 $211.20 $0.00 $306.44 $54,715.27
161 $54,715.27 $211.20 $0.00 $309.37 $55,235.84
162 $55,235.84 $211.20 $0.00 $312.31 $55,759.35
163 $55,759.35 $211.20 $0.00 $315.27 $56,285.82
164 $56,285.82 $211.20 $0.00 $318.25 $56,815.27
165 $56,815.27 $211.20 $0.00 $321.24 $57,347.71
166 $57,347.71 $211.20 $0.00 $324.25 $57,883.16
167 $57,883.16 $211.20 $0.00 $327.28 $58,421.64
168 $58,421.64 $211.20 $0.00 $330.32 $58,963.16
169 $58,963.16 $211.20 $0.00 $333.39 $59,507.75
170 $59,507.75 $211.20 $0.00 $336.47 $60,055.42
171 $60,055.42 $211.20 $0.00 $339.56 $60,606.18
172 $60,606.18 $211.20 $0.00 $342.68 $61,160.06
173 $61,160.06 $211.20 $0.00 $345.81 $61,717.07
174 $61,717.07 $211.20 $0.00 $348.96 $62,277.23
175 $62,277.23 $211.20 $0.00 $352.12 $62,840.55
176 $62,840.55 $211.20 $0.00 $355.31 $63,407.06
177 $63,407.06 $211.20 $0.00 $358.51 $63,976.77
178 $63,976.77 $211.20 $0.00 $361.73 $64,549.70
179 $64,549.70 $211.20 $0.00 $364.97 $65,125.87
180 $65,125.87 $211.20 $0.00 $368.23 $65,705.30
181 $65,705.30 $211.20 $0.00 $371.51 $66,288.01
182 $66,288.01 $211.20 $0.00 $374.80 $66,874.01
183 $66,874.01 $211.20 $0.00 $378.12 $67,463.33
184 $67,463.33 $211.20 $0.00 $381.45 $68,055.98
185 $68,055.98 $211.20 $0.00 $384.80 $68,651.98
186 $68,651.98 $211.20 $0.00 $388.17 $69,251.35
187 $69,251.35 $211.20 $0.00 $391.56 $69,854.11
188 $69,854.11 $211.20 $0.00 $394.97 $70,460.28
189 $70,460.28 $211.20 $0.00 $398.39 $71,069.87
190 $71,069.87 $211.20 $0.00 $401.84 $71,682.91
191 $71,682.91 $211.20 $0.00 $405.31 $72,299.42
192 $72,299.42 $211.20 $0.00 $408.79 $72,919.41
193 $72,919.41 $211.20 $0.00 $412.30 $73,542.91
194 $73,542.91 $211.20 $0.00 $415.82 $74,169.93
195 $74,169.93 $211.20 $0.00 $419.37 $74,800.50
196 $74,800.50 $211.20 $0.00 $422.93 $75,434.63
197 $75,434.63 $211.20 $0.00 $426.52 $76,072.35
198 $76,072.35 $211.20 $0.00 $430.12 $76,713.67
199 $76,713.67 $211.20 $0.00 $433.75 $77,358.62
200 $77,358.62 $211.20 $0.00 $437.40 $78,007.22
201 $78,007.22 $211.20 $0.00 $441.06 $78,659.48
202 $78,659.48 $211.20 $0.00 $444.75 $79,315.43
203 $79,315.43 $211.20 $0.00 $448.46 $79,975.09
204 $79,975.09 $211.20 $0.00 $452.19 $80,638.48
205 $80,638.48 $211.20 $0.00 $455.94 $81,305.62
206 $81,305.62 $211.20 $0.00 $459.71 $81,976.53
207 $81,976.53 $211.20 $0.00 $463.51 $82,651.24
208 $82,651.24 $211.20 $0.00 $467.32 $83,329.76
209 $83,329.76 $211.20 $0.00 $471.16 $84,012.12
210 $84,012.12 $211.20 $0.00 $475.02 $84,698.34
211 $84,698.34 $211.20 $0.00 $478.90 $85,388.44
212 $85,388.44 $211.20 $0.00 $482.80 $86,082.44
213 $86,082.44 $211.20 $0.00 $486.72 $86,780.36
214 $86,780.36 $211.20 $0.00 $490.67 $87,482.23
215 $87,482.23 $211.20 $0.00 $494.64 $88,188.07
216 $88,188.07 $211.20 $0.00 $498.63 $88,897.90
217 $88,897.90 $211.20 $45,929.90 $502.64 $43,681.84
218 $43,681.84 $211.20 $0.00 $246.98 $44,140.02
219 $44,140.02 $211.20 $0.00 $249.57 $44,600.79
220 $44,600.79 $211.20 $0.00 $252.18 $45,064.17
221 $45,064.17 $211.20 $0.00 $254.80 $45,530.17
222 $45,530.17 $211.20 $0.00 $257.43 $45,998.80
223 $45,998.80 $211.20 $0.00 $260.08 $46,470.08
224 $46,470.08 $211.20 $0.00 $262.75 $46,944.03
225 $46,944.03 $211.20 $0.00 $265.43 $47,420.66
226 $47,420.66 $211.20 $0.00 $268.12 $47,899.98
227 $47,899.98 $211.20 $0.00 $270.83 $48,382.01
228 $48,382.01 $211.20 $0.00 $273.56 $48,866.77
229 $48,866.77 $0.00 $49,144.99 $276.30 -$1.92