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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$44,402
Monthly savings required$197

How much will it cost to send your child to Skagit Valley College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $88,804.25 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $197.34 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$18,000.00
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 $197.34 $0.00 $0.00 $197.34
2 $197.34 $197.34 $0.00 $1.12 $395.80
3 $395.80 $197.34 $0.00 $2.24 $595.38
4 $595.38 $197.34 $0.00 $3.37 $796.09
5 $796.09 $197.34 $0.00 $4.50 $997.93
6 $997.93 $197.34 $0.00 $5.64 $1,200.91
7 $1,200.91 $197.34 $0.00 $6.79 $1,405.04
8 $1,405.04 $197.34 $0.00 $7.94 $1,610.32
9 $1,610.32 $197.34 $0.00 $9.10 $1,816.76
10 $1,816.76 $197.34 $0.00 $10.27 $2,024.37
11 $2,024.37 $197.34 $0.00 $11.45 $2,233.16
12 $2,233.16 $197.34 $0.00 $12.63 $2,443.13
13 $2,443.13 $197.34 $0.00 $13.81 $2,654.28
14 $2,654.28 $197.34 $0.00 $15.01 $2,866.63
15 $2,866.63 $197.34 $0.00 $16.21 $3,080.18
16 $3,080.18 $197.34 $0.00 $17.42 $3,294.94
17 $3,294.94 $197.34 $0.00 $18.63 $3,510.91
18 $3,510.91 $197.34 $0.00 $19.85 $3,728.10
19 $3,728.10 $197.34 $0.00 $21.08 $3,946.52
20 $3,946.52 $197.34 $0.00 $22.31 $4,166.17
21 $4,166.17 $197.34 $0.00 $23.56 $4,387.07
22 $4,387.07 $197.34 $0.00 $24.81 $4,609.22
23 $4,609.22 $197.34 $0.00 $26.06 $4,832.62
24 $4,832.62 $197.34 $0.00 $27.32 $5,057.28
25 $5,057.28 $197.34 $0.00 $28.59 $5,283.21
26 $5,283.21 $197.34 $0.00 $29.87 $5,510.42
27 $5,510.42 $197.34 $0.00 $31.16 $5,738.92
28 $5,738.92 $197.34 $0.00 $32.45 $5,968.71
29 $5,968.71 $197.34 $0.00 $33.75 $6,199.80
30 $6,199.80 $197.34 $0.00 $35.05 $6,432.19
31 $6,432.19 $197.34 $0.00 $36.37 $6,665.90
32 $6,665.90 $197.34 $0.00 $37.69 $6,900.93
33 $6,900.93 $197.34 $0.00 $39.02 $7,137.29
34 $7,137.29 $197.34 $0.00 $40.36 $7,374.99
35 $7,374.99 $197.34 $0.00 $41.70 $7,614.03
36 $7,614.03 $197.34 $0.00 $43.05 $7,854.42
37 $7,854.42 $197.34 $0.00 $44.41 $8,096.17
38 $8,096.17 $197.34 $0.00 $45.78 $8,339.29
39 $8,339.29 $197.34 $0.00 $47.15 $8,583.78
40 $8,583.78 $197.34 $0.00 $48.53 $8,829.65
41 $8,829.65 $197.34 $0.00 $49.92 $9,076.91
42 $9,076.91 $197.34 $0.00 $51.32 $9,325.57
43 $9,325.57 $197.34 $0.00 $52.73 $9,575.64
44 $9,575.64 $197.34 $0.00 $54.14 $9,827.12
45 $9,827.12 $197.34 $0.00 $55.56 $10,080.02
46 $10,080.02 $197.34 $0.00 $56.99 $10,334.35
47 $10,334.35 $197.34 $0.00 $58.43 $10,590.12
48 $10,590.12 $197.34 $0.00 $59.88 $10,847.34
49 $10,847.34 $197.34 $0.00 $61.33 $11,106.01
50 $11,106.01 $197.34 $0.00 $62.79 $11,366.14
51 $11,366.14 $197.34 $0.00 $64.27 $11,627.75
52 $11,627.75 $197.34 $0.00 $65.74 $11,890.83
53 $11,890.83 $197.34 $0.00 $67.23 $12,155.40
54 $12,155.40 $197.34 $0.00 $68.73 $12,421.47
55 $12,421.47 $197.34 $0.00 $70.23 $12,689.04
56 $12,689.04 $197.34 $0.00 $71.75 $12,958.13
57 $12,958.13 $197.34 $0.00 $73.27 $13,228.74
58 $13,228.74 $197.34 $0.00 $74.80 $13,500.88
59 $13,500.88 $197.34 $0.00 $76.34 $13,774.56
60 $13,774.56 $197.34 $0.00 $77.88 $14,049.78
61 $14,049.78 $197.34 $0.00 $79.44 $14,326.56
62 $14,326.56 $197.34 $0.00 $81.00 $14,604.90
63 $14,604.90 $197.34 $0.00 $82.58 $14,884.82
64 $14,884.82 $197.34 $0.00 $84.16 $15,166.32
65 $15,166.32 $197.34 $0.00 $85.75 $15,449.41
66 $15,449.41 $197.34 $0.00 $87.35 $15,734.10
67 $15,734.10 $197.34 $0.00 $88.96 $16,020.40
68 $16,020.40 $197.34 $0.00 $90.58 $16,308.32
69 $16,308.32 $197.34 $0.00 $92.21 $16,597.87
70 $16,597.87 $197.34 $0.00 $93.85 $16,889.06
71 $16,889.06 $197.34 $0.00 $95.49 $17,181.89
72 $17,181.89 $197.34 $0.00 $97.15 $17,476.38
73 $17,476.38 $197.34 $0.00 $98.81 $17,772.53
74 $17,772.53 $197.34 $0.00 $100.49 $18,070.36
75 $18,070.36 $197.34 $0.00 $102.17 $18,369.87
76 $18,369.87 $197.34 $0.00 $103.87 $18,671.08
77 $18,671.08 $197.34 $0.00 $105.57 $18,973.99
78 $18,973.99 $197.34 $0.00 $107.28 $19,278.61
79 $19,278.61 $197.34 $0.00 $109.00 $19,584.95
80 $19,584.95 $197.34 $0.00 $110.74 $19,893.03
81 $19,893.03 $197.34 $0.00 $112.48 $20,202.85
82 $20,202.85 $197.34 $0.00 $114.23 $20,514.42
83 $20,514.42 $197.34 $0.00 $115.99 $20,827.75
84 $20,827.75 $197.34 $0.00 $117.76 $21,142.85
85 $21,142.85 $197.34 $0.00 $119.54 $21,459.73
86 $21,459.73 $197.34 $0.00 $121.34 $21,778.41
87 $21,778.41 $197.34 $0.00 $123.14 $22,098.89
88 $22,098.89 $197.34 $0.00 $124.95 $22,421.18
89 $22,421.18 $197.34 $0.00 $126.77 $22,745.29
90 $22,745.29 $197.34 $0.00 $128.61 $23,071.24
91 $23,071.24 $197.34 $0.00 $130.45 $23,399.03
92 $23,399.03 $197.34 $0.00 $132.30 $23,728.67
93 $23,728.67 $197.34 $0.00 $134.17 $24,060.18
94 $24,060.18 $197.34 $0.00 $136.04 $24,393.56
95 $24,393.56 $197.34 $0.00 $137.92 $24,728.82
96 $24,728.82 $197.34 $0.00 $139.82 $25,065.98
97 $25,065.98 $197.34 $0.00 $141.73 $25,405.05
98 $25,405.05 $197.34 $0.00 $143.64 $25,746.03
99 $25,746.03 $197.34 $0.00 $145.57 $26,088.94
100 $26,088.94 $197.34 $0.00 $147.51 $26,433.79
101 $26,433.79 $197.34 $0.00 $149.46 $26,780.59
102 $26,780.59 $197.34 $0.00 $151.42 $27,129.35
103 $27,129.35 $197.34 $0.00 $153.39 $27,480.08
104 $27,480.08 $197.34 $0.00 $155.38 $27,832.80
105 $27,832.80 $197.34 $0.00 $157.37 $28,187.51
106 $28,187.51 $197.34 $0.00 $159.38 $28,544.23
107 $28,544.23 $197.34 $0.00 $161.39 $28,902.96
108 $28,902.96 $197.34 $0.00 $163.42 $29,263.72
109 $29,263.72 $197.34 $0.00 $165.46 $29,626.52
110 $29,626.52 $197.34 $0.00 $167.51 $29,991.37
111 $29,991.37 $197.34 $0.00 $169.58 $30,358.29
112 $30,358.29 $197.34 $0.00 $171.65 $30,727.28
113 $30,727.28 $197.34 $0.00 $173.74 $31,098.36
114 $31,098.36 $197.34 $0.00 $175.83 $31,471.53
115 $31,471.53 $197.34 $0.00 $177.94 $31,846.81
116 $31,846.81 $197.34 $0.00 $180.07 $32,224.22
117 $32,224.22 $197.34 $0.00 $182.20 $32,603.76
118 $32,603.76 $197.34 $0.00 $184.35 $32,985.45
119 $32,985.45 $197.34 $0.00 $186.50 $33,369.29
120 $33,369.29 $197.34 $0.00 $188.67 $33,755.30
121 $33,755.30 $197.34 $0.00 $190.86 $34,143.50
122 $34,143.50 $197.34 $0.00 $193.05 $34,533.89
123 $34,533.89 $197.34 $0.00 $195.26 $34,926.49
124 $34,926.49 $197.34 $0.00 $197.48 $35,321.31
125 $35,321.31 $197.34 $0.00 $199.71 $35,718.36
126 $35,718.36 $197.34 $0.00 $201.96 $36,117.66
127 $36,117.66 $197.34 $0.00 $204.21 $36,519.21
128 $36,519.21 $197.34 $0.00 $206.48 $36,923.03
129 $36,923.03 $197.34 $0.00 $208.77 $37,329.14
130 $37,329.14 $197.34 $0.00 $211.06 $37,737.54
131 $37,737.54 $197.34 $0.00 $213.37 $38,148.25
132 $38,148.25 $197.34 $0.00 $215.70 $38,561.29
133 $38,561.29 $197.34 $0.00 $218.03 $38,976.66
134 $38,976.66 $197.34 $0.00 $220.38 $39,394.38
135 $39,394.38 $197.34 $0.00 $222.74 $39,814.46
136 $39,814.46 $197.34 $0.00 $225.12 $40,236.92
137 $40,236.92 $197.34 $0.00 $227.51 $40,661.77
138 $40,661.77 $197.34 $0.00 $229.91 $41,089.02
139 $41,089.02 $197.34 $0.00 $232.32 $41,518.68
140 $41,518.68 $197.34 $0.00 $234.75 $41,950.77
141 $41,950.77 $197.34 $0.00 $237.20 $42,385.31
142 $42,385.31 $197.34 $0.00 $239.65 $42,822.30
143 $42,822.30 $197.34 $0.00 $242.12 $43,261.76
144 $43,261.76 $197.34 $0.00 $244.61 $43,703.71
145 $43,703.71 $197.34 $0.00 $247.11 $44,148.16
146 $44,148.16 $197.34 $0.00 $249.62 $44,595.12
147 $44,595.12 $197.34 $0.00 $252.15 $45,044.61
148 $45,044.61 $197.34 $0.00 $254.69 $45,496.64
149 $45,496.64 $197.34 $0.00 $257.24 $45,951.22
150 $45,951.22 $197.34 $0.00 $259.81 $46,408.37
151 $46,408.37 $197.34 $0.00 $262.40 $46,868.11
152 $46,868.11 $197.34 $0.00 $265.00 $47,330.45
153 $47,330.45 $197.34 $0.00 $267.61 $47,795.40
154 $47,795.40 $197.34 $0.00 $270.24 $48,262.98
155 $48,262.98 $197.34 $0.00 $272.89 $48,733.21
156 $48,733.21 $197.34 $0.00 $275.54 $49,206.09
157 $49,206.09 $197.34 $0.00 $278.22 $49,681.65
158 $49,681.65 $197.34 $0.00 $280.91 $50,159.90
159 $50,159.90 $197.34 $0.00 $283.61 $50,640.85
160 $50,640.85 $197.34 $0.00 $286.33 $51,124.52
161 $51,124.52 $197.34 $0.00 $289.07 $51,610.93
162 $51,610.93 $197.34 $0.00 $291.82 $52,100.09
163 $52,100.09 $197.34 $0.00 $294.58 $52,592.01
164 $52,592.01 $197.34 $0.00 $297.36 $53,086.71
165 $53,086.71 $197.34 $0.00 $300.16 $53,584.21
166 $53,584.21 $197.34 $0.00 $302.97 $54,084.52
167 $54,084.52 $197.34 $0.00 $305.80 $54,587.66
168 $54,587.66 $197.34 $0.00 $308.65 $55,093.65
169 $55,093.65 $197.34 $0.00 $311.51 $55,602.50
170 $55,602.50 $197.34 $0.00 $314.38 $56,114.22
171 $56,114.22 $197.34 $0.00 $317.28 $56,628.84
172 $56,628.84 $197.34 $0.00 $320.19 $57,146.37
173 $57,146.37 $197.34 $0.00 $323.11 $57,666.82
174 $57,666.82 $197.34 $0.00 $326.06 $58,190.22
175 $58,190.22 $197.34 $0.00 $329.02 $58,716.58
176 $58,716.58 $197.34 $0.00 $331.99 $59,245.91
177 $59,245.91 $197.34 $0.00 $334.98 $59,778.23
178 $59,778.23 $197.34 $0.00 $337.99 $60,313.56
179 $60,313.56 $197.34 $0.00 $341.02 $60,851.92
180 $60,851.92 $197.34 $0.00 $344.07 $61,393.33
181 $61,393.33 $197.34 $0.00 $347.13 $61,937.80
182 $61,937.80 $197.34 $0.00 $350.21 $62,485.35
183 $62,485.35 $197.34 $0.00 $353.30 $63,035.99
184 $63,035.99 $197.34 $0.00 $356.41 $63,589.74
185 $63,589.74 $197.34 $0.00 $359.55 $64,146.63
186 $64,146.63 $197.34 $0.00 $362.69 $64,706.66
187 $64,706.66 $197.34 $0.00 $365.86 $65,269.86
188 $65,269.86 $197.34 $0.00 $369.05 $65,836.25
189 $65,836.25 $197.34 $0.00 $372.25 $66,405.84
190 $66,405.84 $197.34 $0.00 $375.47 $66,978.65
191 $66,978.65 $197.34 $0.00 $378.71 $67,554.70
192 $67,554.70 $197.34 $0.00 $381.96 $68,134.00
193 $68,134.00 $197.34 $0.00 $385.24 $68,716.58
194 $68,716.58 $197.34 $0.00 $388.53 $69,302.45
195 $69,302.45 $197.34 $0.00 $391.85 $69,891.64
196 $69,891.64 $197.34 $0.00 $395.18 $70,484.16
197 $70,484.16 $197.34 $0.00 $398.53 $71,080.03
198 $71,080.03 $197.34 $0.00 $401.90 $71,679.27
199 $71,679.27 $197.34 $0.00 $405.29 $72,281.90
200 $72,281.90 $197.34 $0.00 $408.69 $72,887.93
201 $72,887.93 $197.34 $0.00 $412.12 $73,497.39
202 $73,497.39 $197.34 $0.00 $415.56 $74,110.29
203 $74,110.29 $197.34 $0.00 $419.03 $74,726.66
204 $74,726.66 $197.34 $0.00 $422.52 $75,346.52
205 $75,346.52 $197.34 $0.00 $426.02 $75,969.88
206 $75,969.88 $197.34 $0.00 $429.54 $76,596.76
207 $76,596.76 $197.34 $0.00 $433.09 $77,227.19
208 $77,227.19 $197.34 $0.00 $436.65 $77,861.18
209 $77,861.18 $197.34 $0.00 $440.24 $78,498.76
210 $78,498.76 $197.34 $0.00 $443.84 $79,139.94
211 $79,139.94 $197.34 $0.00 $447.47 $79,784.75
212 $79,784.75 $197.34 $0.00 $451.11 $80,433.20
213 $80,433.20 $197.34 $0.00 $454.78 $81,085.32
214 $81,085.32 $197.34 $0.00 $458.47 $81,741.13
215 $81,741.13 $197.34 $0.00 $462.18 $82,400.65
216 $82,400.65 $197.34 $0.00 $465.91 $83,063.90
217 $83,063.90 $197.34 $43,319.15 $469.66 $40,411.75
218 $40,411.75 $197.34 $0.00 $228.49 $40,837.58
219 $40,837.58 $197.34 $0.00 $230.90 $41,265.82
220 $41,265.82 $197.34 $0.00 $233.32 $41,696.48
221 $41,696.48 $197.34 $0.00 $235.76 $42,129.58
222 $42,129.58 $197.34 $0.00 $238.21 $42,565.13
223 $42,565.13 $197.34 $0.00 $240.67 $43,003.14
224 $43,003.14 $197.34 $0.00 $243.15 $43,443.63
225 $43,443.63 $197.34 $0.00 $245.64 $43,886.61
226 $43,886.61 $197.34 $0.00 $248.14 $44,332.09
227 $44,332.09 $197.34 $0.00 $250.66 $44,780.09
228 $44,780.09 $197.34 $0.00 $253.19 $45,230.62
229 $45,230.62 $0.00 $45,485.10 $255.74 $1.26