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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$48,053
Monthly savings required$214

How much will it cost to send your child to Clover Park Technical College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $96,105.93 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $213.56 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$19,480.00
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 $213.56 $0.00 $0.00 $213.56
2 $213.56 $213.56 $0.00 $1.21 $428.33
3 $428.33 $213.56 $0.00 $2.42 $644.31
4 $644.31 $213.56 $0.00 $3.64 $861.51
5 $861.51 $213.56 $0.00 $4.87 $1,079.94
6 $1,079.94 $213.56 $0.00 $6.11 $1,299.61
7 $1,299.61 $213.56 $0.00 $7.35 $1,520.52
8 $1,520.52 $213.56 $0.00 $8.60 $1,742.68
9 $1,742.68 $213.56 $0.00 $9.85 $1,966.09
10 $1,966.09 $213.56 $0.00 $11.12 $2,190.77
11 $2,190.77 $213.56 $0.00 $12.39 $2,416.72
12 $2,416.72 $213.56 $0.00 $13.66 $2,643.94
13 $2,643.94 $213.56 $0.00 $14.95 $2,872.45
14 $2,872.45 $213.56 $0.00 $16.24 $3,102.25
15 $3,102.25 $213.56 $0.00 $17.54 $3,333.35
16 $3,333.35 $213.56 $0.00 $18.85 $3,565.76
17 $3,565.76 $213.56 $0.00 $20.16 $3,799.48
18 $3,799.48 $213.56 $0.00 $21.48 $4,034.52
19 $4,034.52 $213.56 $0.00 $22.81 $4,270.89
20 $4,270.89 $213.56 $0.00 $24.15 $4,508.60
21 $4,508.60 $213.56 $0.00 $25.49 $4,747.65
22 $4,747.65 $213.56 $0.00 $26.84 $4,988.05
23 $4,988.05 $213.56 $0.00 $28.20 $5,229.81
24 $5,229.81 $213.56 $0.00 $29.57 $5,472.94
25 $5,472.94 $213.56 $0.00 $30.94 $5,717.44
26 $5,717.44 $213.56 $0.00 $32.33 $5,963.33
27 $5,963.33 $213.56 $0.00 $33.72 $6,210.61
28 $6,210.61 $213.56 $0.00 $35.12 $6,459.29
29 $6,459.29 $213.56 $0.00 $36.52 $6,709.37
30 $6,709.37 $213.56 $0.00 $37.94 $6,960.87
31 $6,960.87 $213.56 $0.00 $39.36 $7,213.79
32 $7,213.79 $213.56 $0.00 $40.79 $7,468.14
33 $7,468.14 $213.56 $0.00 $42.23 $7,723.93
34 $7,723.93 $213.56 $0.00 $43.67 $7,981.16
35 $7,981.16 $213.56 $0.00 $45.13 $8,239.85
36 $8,239.85 $213.56 $0.00 $46.59 $8,500.00
37 $8,500.00 $213.56 $0.00 $48.06 $8,761.62
38 $8,761.62 $213.56 $0.00 $49.54 $9,024.72
39 $9,024.72 $213.56 $0.00 $51.03 $9,289.31
40 $9,289.31 $213.56 $0.00 $52.52 $9,555.39
41 $9,555.39 $213.56 $0.00 $54.03 $9,822.98
42 $9,822.98 $213.56 $0.00 $55.54 $10,092.08
43 $10,092.08 $213.56 $0.00 $57.06 $10,362.70
44 $10,362.70 $213.56 $0.00 $58.59 $10,634.85
45 $10,634.85 $213.56 $0.00 $60.13 $10,908.54
46 $10,908.54 $213.56 $0.00 $61.68 $11,183.78
47 $11,183.78 $213.56 $0.00 $63.23 $11,460.57
48 $11,460.57 $213.56 $0.00 $64.80 $11,738.93
49 $11,738.93 $213.56 $0.00 $66.37 $12,018.86
50 $12,018.86 $213.56 $0.00 $67.96 $12,300.38
51 $12,300.38 $213.56 $0.00 $69.55 $12,583.49
52 $12,583.49 $213.56 $0.00 $71.15 $12,868.20
53 $12,868.20 $213.56 $0.00 $72.76 $13,154.52
54 $13,154.52 $213.56 $0.00 $74.38 $13,442.46
55 $13,442.46 $213.56 $0.00 $76.01 $13,732.03
56 $13,732.03 $213.56 $0.00 $77.64 $14,023.23
57 $14,023.23 $213.56 $0.00 $79.29 $14,316.08
58 $14,316.08 $213.56 $0.00 $80.95 $14,610.59
59 $14,610.59 $213.56 $0.00 $82.61 $14,906.76
60 $14,906.76 $213.56 $0.00 $84.28 $15,204.60
61 $15,204.60 $213.56 $0.00 $85.97 $15,504.13
62 $15,504.13 $213.56 $0.00 $87.66 $15,805.35
63 $15,805.35 $213.56 $0.00 $89.37 $16,108.28
64 $16,108.28 $213.56 $0.00 $91.08 $16,412.92
65 $16,412.92 $213.56 $0.00 $92.80 $16,719.28
66 $16,719.28 $213.56 $0.00 $94.53 $17,027.37
67 $17,027.37 $213.56 $0.00 $96.28 $17,337.21
68 $17,337.21 $213.56 $0.00 $98.03 $17,648.80
69 $17,648.80 $213.56 $0.00 $99.79 $17,962.15
70 $17,962.15 $213.56 $0.00 $101.56 $18,277.27
71 $18,277.27 $213.56 $0.00 $103.34 $18,594.17
72 $18,594.17 $213.56 $0.00 $105.13 $18,912.86
73 $18,912.86 $213.56 $0.00 $106.94 $19,233.36
74 $19,233.36 $213.56 $0.00 $108.75 $19,555.67
75 $19,555.67 $213.56 $0.00 $110.57 $19,879.80
76 $19,879.80 $213.56 $0.00 $112.40 $20,205.76
77 $20,205.76 $213.56 $0.00 $114.25 $20,533.57
78 $20,533.57 $213.56 $0.00 $116.10 $20,863.23
79 $20,863.23 $213.56 $0.00 $117.96 $21,194.75
80 $21,194.75 $213.56 $0.00 $119.84 $21,528.15
81 $21,528.15 $213.56 $0.00 $121.72 $21,863.43
82 $21,863.43 $213.56 $0.00 $123.62 $22,200.61
83 $22,200.61 $213.56 $0.00 $125.53 $22,539.70
84 $22,539.70 $213.56 $0.00 $127.44 $22,880.70
85 $22,880.70 $213.56 $0.00 $129.37 $23,223.63
86 $23,223.63 $213.56 $0.00 $131.31 $23,568.50
87 $23,568.50 $213.56 $0.00 $133.26 $23,915.32
88 $23,915.32 $213.56 $0.00 $135.22 $24,264.10
89 $24,264.10 $213.56 $0.00 $137.19 $24,614.85
90 $24,614.85 $213.56 $0.00 $139.18 $24,967.59
91 $24,967.59 $213.56 $0.00 $141.17 $25,322.32
92 $25,322.32 $213.56 $0.00 $143.18 $25,679.06
93 $25,679.06 $213.56 $0.00 $145.19 $26,037.81
94 $26,037.81 $213.56 $0.00 $147.22 $26,398.59
95 $26,398.59 $213.56 $0.00 $149.26 $26,761.41
96 $26,761.41 $213.56 $0.00 $151.31 $27,126.28
97 $27,126.28 $213.56 $0.00 $153.38 $27,493.22
98 $27,493.22 $213.56 $0.00 $155.45 $27,862.23
99 $27,862.23 $213.56 $0.00 $157.54 $28,233.33
100 $28,233.33 $213.56 $0.00 $159.64 $28,606.53
101 $28,606.53 $213.56 $0.00 $161.75 $28,981.84
102 $28,981.84 $213.56 $0.00 $163.87 $29,359.27
103 $29,359.27 $213.56 $0.00 $166.00 $29,738.83
104 $29,738.83 $213.56 $0.00 $168.15 $30,120.54
105 $30,120.54 $213.56 $0.00 $170.31 $30,504.41
106 $30,504.41 $213.56 $0.00 $172.48 $30,890.45
107 $30,890.45 $213.56 $0.00 $174.66 $31,278.67
108 $31,278.67 $213.56 $0.00 $176.85 $31,669.08
109 $31,669.08 $213.56 $0.00 $179.06 $32,061.70
110 $32,061.70 $213.56 $0.00 $181.28 $32,456.54
111 $32,456.54 $213.56 $0.00 $183.51 $32,853.61
112 $32,853.61 $213.56 $0.00 $185.76 $33,252.93
113 $33,252.93 $213.56 $0.00 $188.02 $33,654.51
114 $33,654.51 $213.56 $0.00 $190.29 $34,058.36
115 $34,058.36 $213.56 $0.00 $192.57 $34,464.49
116 $34,464.49 $213.56 $0.00 $194.87 $34,872.92
117 $34,872.92 $213.56 $0.00 $197.18 $35,283.66
118 $35,283.66 $213.56 $0.00 $199.50 $35,696.72
119 $35,696.72 $213.56 $0.00 $201.83 $36,112.11
120 $36,112.11 $213.56 $0.00 $204.18 $36,529.85
121 $36,529.85 $213.56 $0.00 $206.55 $36,949.96
122 $36,949.96 $213.56 $0.00 $208.92 $37,372.44
123 $37,372.44 $213.56 $0.00 $211.31 $37,797.31
124 $37,797.31 $213.56 $0.00 $213.71 $38,224.58
125 $38,224.58 $213.56 $0.00 $216.13 $38,654.27
126 $38,654.27 $213.56 $0.00 $218.56 $39,086.39
127 $39,086.39 $213.56 $0.00 $221.00 $39,520.95
128 $39,520.95 $213.56 $0.00 $223.46 $39,957.97
129 $39,957.97 $213.56 $0.00 $225.93 $40,397.46
130 $40,397.46 $213.56 $0.00 $228.41 $40,839.43
131 $40,839.43 $213.56 $0.00 $230.91 $41,283.90
132 $41,283.90 $213.56 $0.00 $233.43 $41,730.89
133 $41,730.89 $213.56 $0.00 $235.95 $42,180.40
134 $42,180.40 $213.56 $0.00 $238.49 $42,632.45
135 $42,632.45 $213.56 $0.00 $241.05 $43,087.06
136 $43,087.06 $213.56 $0.00 $243.62 $43,544.24
137 $43,544.24 $213.56 $0.00 $246.21 $44,004.01
138 $44,004.01 $213.56 $0.00 $248.81 $44,466.38
139 $44,466.38 $213.56 $0.00 $251.42 $44,931.36
140 $44,931.36 $213.56 $0.00 $254.05 $45,398.97
141 $45,398.97 $213.56 $0.00 $256.69 $45,869.22
142 $45,869.22 $213.56 $0.00 $259.35 $46,342.13
143 $46,342.13 $213.56 $0.00 $262.03 $46,817.72
144 $46,817.72 $213.56 $0.00 $264.71 $47,295.99
145 $47,295.99 $213.56 $0.00 $267.42 $47,776.97
146 $47,776.97 $213.56 $0.00 $270.14 $48,260.67
147 $48,260.67 $213.56 $0.00 $272.87 $48,747.10
148 $48,747.10 $213.56 $0.00 $275.62 $49,236.28
149 $49,236.28 $213.56 $0.00 $278.39 $49,728.23
150 $49,728.23 $213.56 $0.00 $281.17 $50,222.96
151 $50,222.96 $213.56 $0.00 $283.97 $50,720.49
152 $50,720.49 $213.56 $0.00 $286.78 $51,220.83
153 $51,220.83 $213.56 $0.00 $289.61 $51,724.00
154 $51,724.00 $213.56 $0.00 $292.46 $52,230.02
155 $52,230.02 $213.56 $0.00 $295.32 $52,738.90
156 $52,738.90 $213.56 $0.00 $298.19 $53,250.65
157 $53,250.65 $213.56 $0.00 $301.09 $53,765.30
158 $53,765.30 $213.56 $0.00 $304.00 $54,282.86
159 $54,282.86 $213.56 $0.00 $306.92 $54,803.34
160 $54,803.34 $213.56 $0.00 $309.87 $55,326.77
161 $55,326.77 $213.56 $0.00 $312.83 $55,853.16
162 $55,853.16 $213.56 $0.00 $315.80 $56,382.52
163 $56,382.52 $213.56 $0.00 $318.79 $56,914.87
164 $56,914.87 $213.56 $0.00 $321.80 $57,450.23
165 $57,450.23 $213.56 $0.00 $324.83 $57,988.62
166 $57,988.62 $213.56 $0.00 $327.88 $58,530.06
167 $58,530.06 $213.56 $0.00 $330.94 $59,074.56
168 $59,074.56 $213.56 $0.00 $334.02 $59,622.14
169 $59,622.14 $213.56 $0.00 $337.11 $60,172.81
170 $60,172.81 $213.56 $0.00 $340.23 $60,726.60
171 $60,726.60 $213.56 $0.00 $343.36 $61,283.52
172 $61,283.52 $213.56 $0.00 $346.51 $61,843.59
173 $61,843.59 $213.56 $0.00 $349.67 $62,406.82
174 $62,406.82 $213.56 $0.00 $352.86 $62,973.24
175 $62,973.24 $213.56 $0.00 $356.06 $63,542.86
176 $63,542.86 $213.56 $0.00 $359.28 $64,115.70
177 $64,115.70 $213.56 $0.00 $362.52 $64,691.78
178 $64,691.78 $213.56 $0.00 $365.78 $65,271.12
179 $65,271.12 $213.56 $0.00 $369.05 $65,853.73
180 $65,853.73 $213.56 $0.00 $372.35 $66,439.64
181 $66,439.64 $213.56 $0.00 $375.66 $67,028.86
182 $67,028.86 $213.56 $0.00 $378.99 $67,621.41
183 $67,621.41 $213.56 $0.00 $382.34 $68,217.31
184 $68,217.31 $213.56 $0.00 $385.71 $68,816.58
185 $68,816.58 $213.56 $0.00 $389.10 $69,419.24
186 $69,419.24 $213.56 $0.00 $392.51 $70,025.31
187 $70,025.31 $213.56 $0.00 $395.93 $70,634.80
188 $70,634.80 $213.56 $0.00 $399.38 $71,247.74
189 $71,247.74 $213.56 $0.00 $402.85 $71,864.15
190 $71,864.15 $213.56 $0.00 $406.33 $72,484.04
191 $72,484.04 $213.56 $0.00 $409.84 $73,107.44
192 $73,107.44 $213.56 $0.00 $413.36 $73,734.36
193 $73,734.36 $213.56 $0.00 $416.90 $74,364.82
194 $74,364.82 $213.56 $0.00 $420.47 $74,998.85
195 $74,998.85 $213.56 $0.00 $424.05 $75,636.46
196 $75,636.46 $213.56 $0.00 $427.66 $76,277.68
197 $76,277.68 $213.56 $0.00 $431.29 $76,922.53
198 $76,922.53 $213.56 $0.00 $434.93 $77,571.02
199 $77,571.02 $213.56 $0.00 $438.60 $78,223.18
200 $78,223.18 $213.56 $0.00 $442.29 $78,879.03
201 $78,879.03 $213.56 $0.00 $445.99 $79,538.58
202 $79,538.58 $213.56 $0.00 $449.72 $80,201.86
203 $80,201.86 $213.56 $0.00 $453.47 $80,868.89
204 $80,868.89 $213.56 $0.00 $457.24 $81,539.69
205 $81,539.69 $213.56 $0.00 $461.04 $82,214.29
206 $82,214.29 $213.56 $0.00 $464.85 $82,892.70
207 $82,892.70 $213.56 $0.00 $468.69 $83,574.95
208 $83,574.95 $213.56 $0.00 $472.54 $84,261.05
209 $84,261.05 $213.56 $0.00 $476.42 $84,951.03
210 $84,951.03 $213.56 $0.00 $480.33 $85,644.92
211 $85,644.92 $213.56 $0.00 $484.25 $86,342.73
212 $86,342.73 $213.56 $0.00 $488.19 $87,044.48
213 $87,044.48 $213.56 $0.00 $492.16 $87,750.20
214 $87,750.20 $213.56 $0.00 $496.15 $88,459.91
215 $88,459.91 $213.56 $0.00 $500.17 $89,173.64
216 $89,173.64 $213.56 $0.00 $504.20 $89,891.40
217 $89,891.40 $213.56 $46,880.94 $508.26 $43,732.28
218 $43,732.28 $213.56 $0.00 $247.27 $44,193.11
219 $44,193.11 $213.56 $0.00 $249.87 $44,656.54
220 $44,656.54 $213.56 $0.00 $252.49 $45,122.59
221 $45,122.59 $213.56 $0.00 $255.13 $45,591.28
222 $45,591.28 $213.56 $0.00 $257.78 $46,062.62
223 $46,062.62 $213.56 $0.00 $260.44 $46,536.62
224 $46,536.62 $213.56 $0.00 $263.12 $47,013.30
225 $47,013.30 $213.56 $0.00 $265.82 $47,492.68
226 $47,492.68 $213.56 $0.00 $268.53 $47,974.77
227 $47,974.77 $213.56 $0.00 $271.26 $48,459.59
228 $48,459.59 $213.56 $0.00 $274.00 $48,947.15
229 $48,947.15 $0.00 $49,224.99 $276.75 ($1.09)