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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$47,133
Monthly savings required$209

How much will it cost to send your child to Clark College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $94,265.71 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $209.47 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$19,107.00
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 $209.47 $0.00 $0.00 $209.47
2 $209.47 $209.47 $0.00 $1.18 $420.12
3 $420.12 $209.47 $0.00 $2.38 $631.97
4 $631.97 $209.47 $0.00 $3.57 $845.01
5 $845.01 $209.47 $0.00 $4.78 $1,059.26
6 $1,059.26 $209.47 $0.00 $5.99 $1,274.72
7 $1,274.72 $209.47 $0.00 $7.21 $1,491.40
8 $1,491.40 $209.47 $0.00 $8.43 $1,709.30
9 $1,709.30 $209.47 $0.00 $9.66 $1,928.43
10 $1,928.43 $209.47 $0.00 $10.90 $2,148.80
11 $2,148.80 $209.47 $0.00 $12.15 $2,370.42
12 $2,370.42 $209.47 $0.00 $13.40 $2,593.29
13 $2,593.29 $209.47 $0.00 $14.66 $2,817.42
14 $2,817.42 $209.47 $0.00 $15.93 $3,042.82
15 $3,042.82 $209.47 $0.00 $17.20 $3,269.49
16 $3,269.49 $209.47 $0.00 $18.49 $3,497.45
17 $3,497.45 $209.47 $0.00 $19.78 $3,726.70
18 $3,726.70 $209.47 $0.00 $21.07 $3,957.24
19 $3,957.24 $209.47 $0.00 $22.37 $4,189.08
20 $4,189.08 $209.47 $0.00 $23.69 $4,422.24
21 $4,422.24 $209.47 $0.00 $25.00 $4,656.71
22 $4,656.71 $209.47 $0.00 $26.33 $4,892.51
23 $4,892.51 $209.47 $0.00 $27.66 $5,129.64
24 $5,129.64 $209.47 $0.00 $29.00 $5,368.11
25 $5,368.11 $209.47 $0.00 $30.35 $5,607.93
26 $5,607.93 $209.47 $0.00 $31.71 $5,849.11
27 $5,849.11 $209.47 $0.00 $33.07 $6,091.65
28 $6,091.65 $209.47 $0.00 $34.44 $6,335.56
29 $6,335.56 $209.47 $0.00 $35.82 $6,580.85
30 $6,580.85 $209.47 $0.00 $37.21 $6,827.53
31 $6,827.53 $209.47 $0.00 $38.60 $7,075.60
32 $7,075.60 $209.47 $0.00 $40.01 $7,325.08
33 $7,325.08 $209.47 $0.00 $41.42 $7,575.97
34 $7,575.97 $209.47 $0.00 $42.84 $7,828.28
35 $7,828.28 $209.47 $0.00 $44.26 $8,082.01
36 $8,082.01 $209.47 $0.00 $45.70 $8,337.18
37 $8,337.18 $209.47 $0.00 $47.14 $8,593.79
38 $8,593.79 $209.47 $0.00 $48.59 $8,851.85
39 $8,851.85 $209.47 $0.00 $50.05 $9,111.37
40 $9,111.37 $209.47 $0.00 $51.52 $9,372.36
41 $9,372.36 $209.47 $0.00 $52.99 $9,634.82
42 $9,634.82 $209.47 $0.00 $54.48 $9,898.77
43 $9,898.77 $209.47 $0.00 $55.97 $10,164.21
44 $10,164.21 $209.47 $0.00 $57.47 $10,431.15
45 $10,431.15 $209.47 $0.00 $58.98 $10,699.60
46 $10,699.60 $209.47 $0.00 $60.50 $10,969.57
47 $10,969.57 $209.47 $0.00 $62.02 $11,241.06
48 $11,241.06 $209.47 $0.00 $63.56 $11,514.09
49 $11,514.09 $209.47 $0.00 $65.10 $11,788.66
50 $11,788.66 $209.47 $0.00 $66.65 $12,064.78
51 $12,064.78 $209.47 $0.00 $68.22 $12,342.47
52 $12,342.47 $209.47 $0.00 $69.79 $12,621.73
53 $12,621.73 $209.47 $0.00 $71.37 $12,902.57
54 $12,902.57 $209.47 $0.00 $72.95 $13,184.99
55 $13,184.99 $209.47 $0.00 $74.55 $13,469.01
56 $13,469.01 $209.47 $0.00 $76.16 $13,754.64
57 $13,754.64 $209.47 $0.00 $77.77 $14,041.88
58 $14,041.88 $209.47 $0.00 $79.39 $14,330.74
59 $14,330.74 $209.47 $0.00 $81.03 $14,621.24
60 $14,621.24 $209.47 $0.00 $82.67 $14,913.38
61 $14,913.38 $209.47 $0.00 $84.32 $15,207.17
62 $15,207.17 $209.47 $0.00 $85.98 $15,502.62
63 $15,502.62 $209.47 $0.00 $87.65 $15,799.74
64 $15,799.74 $209.47 $0.00 $89.33 $16,098.54
65 $16,098.54 $209.47 $0.00 $91.02 $16,399.03
66 $16,399.03 $209.47 $0.00 $92.72 $16,701.22
67 $16,701.22 $209.47 $0.00 $94.43 $17,005.12
68 $17,005.12 $209.47 $0.00 $96.15 $17,310.74
69 $17,310.74 $209.47 $0.00 $97.88 $17,618.09
70 $17,618.09 $209.47 $0.00 $99.62 $17,927.18
71 $17,927.18 $209.47 $0.00 $101.36 $18,238.01
72 $18,238.01 $209.47 $0.00 $103.12 $18,550.60
73 $18,550.60 $209.47 $0.00 $104.89 $18,864.96
74 $18,864.96 $209.47 $0.00 $106.67 $19,181.10
75 $19,181.10 $209.47 $0.00 $108.45 $19,499.02
76 $19,499.02 $209.47 $0.00 $110.25 $19,818.74
77 $19,818.74 $209.47 $0.00 $112.06 $20,140.27
78 $20,140.27 $209.47 $0.00 $113.88 $20,463.62
79 $20,463.62 $209.47 $0.00 $115.70 $20,788.79
80 $20,788.79 $209.47 $0.00 $117.54 $21,115.80
81 $21,115.80 $209.47 $0.00 $119.39 $21,444.66
82 $21,444.66 $209.47 $0.00 $121.25 $21,775.38
83 $21,775.38 $209.47 $0.00 $123.12 $22,107.97
84 $22,107.97 $209.47 $0.00 $125.00 $22,442.44
85 $22,442.44 $209.47 $0.00 $126.89 $22,778.80
86 $22,778.80 $209.47 $0.00 $128.79 $23,117.06
87 $23,117.06 $209.47 $0.00 $130.71 $23,457.24
88 $23,457.24 $209.47 $0.00 $132.63 $23,799.34
89 $23,799.34 $209.47 $0.00 $134.56 $24,143.37
90 $24,143.37 $209.47 $0.00 $136.51 $24,489.35
91 $24,489.35 $209.47 $0.00 $138.47 $24,837.29
92 $24,837.29 $209.47 $0.00 $140.43 $25,187.19
93 $25,187.19 $209.47 $0.00 $142.41 $25,539.07
94 $25,539.07 $209.47 $0.00 $144.40 $25,892.94
95 $25,892.94 $209.47 $0.00 $146.40 $26,248.81
96 $26,248.81 $209.47 $0.00 $148.41 $26,606.69
97 $26,606.69 $209.47 $0.00 $150.44 $26,966.60
98 $26,966.60 $209.47 $0.00 $152.47 $27,328.54
99 $27,328.54 $209.47 $0.00 $154.52 $27,692.53
100 $27,692.53 $209.47 $0.00 $156.58 $28,058.58
101 $28,058.58 $209.47 $0.00 $158.65 $28,426.70
102 $28,426.70 $209.47 $0.00 $160.73 $28,796.90
103 $28,796.90 $209.47 $0.00 $162.82 $29,169.19
104 $29,169.19 $209.47 $0.00 $164.93 $29,543.59
105 $29,543.59 $209.47 $0.00 $167.04 $29,920.10
106 $29,920.10 $209.47 $0.00 $169.17 $30,298.74
107 $30,298.74 $209.47 $0.00 $171.31 $30,679.52
108 $30,679.52 $209.47 $0.00 $173.47 $31,062.46
109 $31,062.46 $209.47 $0.00 $175.63 $31,447.56
110 $31,447.56 $209.47 $0.00 $177.81 $31,834.84
111 $31,834.84 $209.47 $0.00 $180.00 $32,224.31
112 $32,224.31 $209.47 $0.00 $182.20 $32,615.98
113 $32,615.98 $209.47 $0.00 $184.42 $33,009.87
114 $33,009.87 $209.47 $0.00 $186.64 $33,405.98
115 $33,405.98 $209.47 $0.00 $188.88 $33,804.33
116 $33,804.33 $209.47 $0.00 $191.13 $34,204.93
117 $34,204.93 $209.47 $0.00 $193.40 $34,607.80
118 $34,607.80 $209.47 $0.00 $195.68 $35,012.95
119 $35,012.95 $209.47 $0.00 $197.97 $35,420.39
120 $35,420.39 $209.47 $0.00 $200.27 $35,830.13
121 $35,830.13 $209.47 $0.00 $202.59 $36,242.19
122 $36,242.19 $209.47 $0.00 $204.92 $36,656.58
123 $36,656.58 $209.47 $0.00 $207.26 $37,073.31
124 $37,073.31 $209.47 $0.00 $209.62 $37,492.40
125 $37,492.40 $209.47 $0.00 $211.99 $37,913.86
126 $37,913.86 $209.47 $0.00 $214.37 $38,337.70
127 $38,337.70 $209.47 $0.00 $216.77 $38,763.94
128 $38,763.94 $209.47 $0.00 $219.18 $39,192.59
129 $39,192.59 $209.47 $0.00 $221.60 $39,623.66
130 $39,623.66 $209.47 $0.00 $224.04 $40,057.17
131 $40,057.17 $209.47 $0.00 $226.49 $40,493.13
132 $40,493.13 $209.47 $0.00 $228.95 $40,931.55
133 $40,931.55 $209.47 $0.00 $231.43 $41,372.45
134 $41,372.45 $209.47 $0.00 $233.93 $41,815.85
135 $41,815.85 $209.47 $0.00 $236.43 $42,261.75
136 $42,261.75 $209.47 $0.00 $238.95 $42,710.17
137 $42,710.17 $209.47 $0.00 $241.49 $43,161.13
138 $43,161.13 $209.47 $0.00 $244.04 $43,614.64
139 $43,614.64 $209.47 $0.00 $246.60 $44,070.71
140 $44,070.71 $209.47 $0.00 $249.18 $44,529.36
141 $44,529.36 $209.47 $0.00 $251.78 $44,990.61
142 $44,990.61 $209.47 $0.00 $254.38 $45,454.46
143 $45,454.46 $209.47 $0.00 $257.01 $45,920.94
144 $45,920.94 $209.47 $0.00 $259.64 $46,390.05
145 $46,390.05 $209.47 $0.00 $262.30 $46,861.82
146 $46,861.82 $209.47 $0.00 $264.96 $47,336.25
147 $47,336.25 $209.47 $0.00 $267.65 $47,813.37
148 $47,813.37 $209.47 $0.00 $270.34 $48,293.18
149 $48,293.18 $209.47 $0.00 $273.06 $48,775.71
150 $48,775.71 $209.47 $0.00 $275.78 $49,260.96
151 $49,260.96 $209.47 $0.00 $278.53 $49,748.96
152 $49,748.96 $209.47 $0.00 $281.29 $50,239.72
153 $50,239.72 $209.47 $0.00 $284.06 $50,733.25
154 $50,733.25 $209.47 $0.00 $286.85 $51,229.57
155 $51,229.57 $209.47 $0.00 $289.66 $51,728.70
156 $51,728.70 $209.47 $0.00 $292.48 $52,230.65
157 $52,230.65 $209.47 $0.00 $295.32 $52,735.44
158 $52,735.44 $209.47 $0.00 $298.17 $53,243.08
159 $53,243.08 $209.47 $0.00 $301.04 $53,753.59
160 $53,753.59 $209.47 $0.00 $303.93 $54,266.99
161 $54,266.99 $209.47 $0.00 $306.83 $54,783.29
162 $54,783.29 $209.47 $0.00 $309.75 $55,302.51
163 $55,302.51 $209.47 $0.00 $312.69 $55,824.67
164 $55,824.67 $209.47 $0.00 $315.64 $56,349.78
165 $56,349.78 $209.47 $0.00 $318.61 $56,877.86
166 $56,877.86 $209.47 $0.00 $321.60 $57,408.93
167 $57,408.93 $209.47 $0.00 $324.60 $57,943.00
168 $57,943.00 $209.47 $0.00 $327.62 $58,480.09
169 $58,480.09 $209.47 $0.00 $330.65 $59,020.21
170 $59,020.21 $209.47 $0.00 $333.71 $59,563.39
171 $59,563.39 $209.47 $0.00 $336.78 $60,109.64
172 $60,109.64 $209.47 $0.00 $339.87 $60,658.98
173 $60,658.98 $209.47 $0.00 $342.97 $61,211.42
174 $61,211.42 $209.47 $0.00 $346.10 $61,766.99
175 $61,766.99 $209.47 $0.00 $349.24 $62,325.70
176 $62,325.70 $209.47 $0.00 $352.40 $62,887.57
177 $62,887.57 $209.47 $0.00 $355.58 $63,452.62
178 $63,452.62 $209.47 $0.00 $358.77 $64,020.86
179 $64,020.86 $209.47 $0.00 $361.98 $64,592.31
180 $64,592.31 $209.47 $0.00 $365.21 $65,166.99
181 $65,166.99 $209.47 $0.00 $368.46 $65,744.92
182 $65,744.92 $209.47 $0.00 $371.73 $66,326.12
183 $66,326.12 $209.47 $0.00 $375.02 $66,910.61
184 $66,910.61 $209.47 $0.00 $378.32 $67,498.40
185 $67,498.40 $209.47 $0.00 $381.65 $68,089.52
186 $68,089.52 $209.47 $0.00 $384.99 $68,683.98
187 $68,683.98 $209.47 $0.00 $388.35 $69,281.80
188 $69,281.80 $209.47 $0.00 $391.73 $69,883.00
189 $69,883.00 $209.47 $0.00 $395.13 $70,487.60
190 $70,487.60 $209.47 $0.00 $398.55 $71,095.62
191 $71,095.62 $209.47 $0.00 $401.98 $71,707.07
192 $71,707.07 $209.47 $0.00 $405.44 $72,321.98
193 $72,321.98 $209.47 $0.00 $408.92 $72,940.37
194 $72,940.37 $209.47 $0.00 $412.42 $73,562.26
195 $73,562.26 $209.47 $0.00 $415.93 $74,187.66
196 $74,187.66 $209.47 $0.00 $419.47 $74,816.60
197 $74,816.60 $209.47 $0.00 $423.02 $75,449.09
198 $75,449.09 $209.47 $0.00 $426.60 $76,085.16
199 $76,085.16 $209.47 $0.00 $430.20 $76,724.83
200 $76,724.83 $209.47 $0.00 $433.81 $77,368.11
201 $77,368.11 $209.47 $0.00 $437.45 $78,015.03
202 $78,015.03 $209.47 $0.00 $441.11 $78,665.61
203 $78,665.61 $209.47 $0.00 $444.79 $79,319.87
204 $79,319.87 $209.47 $0.00 $448.49 $79,977.83
205 $79,977.83 $209.47 $0.00 $452.21 $80,639.51
206 $80,639.51 $209.47 $0.00 $455.95 $81,304.93
207 $81,304.93 $209.47 $0.00 $459.71 $81,974.11
208 $81,974.11 $209.47 $0.00 $463.49 $82,647.07
209 $82,647.07 $209.47 $0.00 $467.30 $83,323.84
210 $83,323.84 $209.47 $0.00 $471.13 $84,004.44
211 $84,004.44 $209.47 $0.00 $474.97 $84,688.88
212 $84,688.88 $209.47 $0.00 $478.84 $85,377.19
213 $85,377.19 $209.47 $0.00 $482.74 $86,069.40
214 $86,069.40 $209.47 $0.00 $486.65 $86,765.52
215 $86,765.52 $209.47 $0.00 $490.58 $87,465.57
216 $87,465.57 $209.47 $0.00 $494.54 $88,169.58
217 $88,169.58 $209.47 $45,983.27 $498.52 $42,894.30
218 $42,894.30 $209.47 $0.00 $242.53 $43,346.30
219 $43,346.30 $209.47 $0.00 $245.09 $43,800.86
220 $43,800.86 $209.47 $0.00 $247.66 $44,257.99
221 $44,257.99 $209.47 $0.00 $250.24 $44,717.70
222 $44,717.70 $209.47 $0.00 $252.84 $45,180.01
223 $45,180.01 $209.47 $0.00 $255.45 $45,644.93
224 $45,644.93 $209.47 $0.00 $258.08 $46,112.48
225 $46,112.48 $209.47 $0.00 $260.73 $46,582.68
226 $46,582.68 $209.47 $0.00 $263.39 $47,055.54
227 $47,055.54 $209.47 $0.00 $266.06 $47,531.07
228 $47,531.07 $209.47 $0.00 $268.75 $48,009.29
229 $48,009.29 $0.00 $48,282.44 $271.45 ($1.70)