Savings Plan and Future Cost Estimation for Central Maine Community College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$59,806
Monthly savings required$266

How much will it cost to send your child to Central Maine Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $119,611.48 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $265.72 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$17,096.00
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 $265.72 $0.00 $0.00 $265.72
2 $265.72 $265.72 $0.00 $1.50 $532.94
3 $532.94 $265.72 $0.00 $3.01 $801.67
4 $801.67 $265.72 $0.00 $4.53 $1,071.92
5 $1,071.92 $265.72 $0.00 $6.06 $1,343.70
6 $1,343.70 $265.72 $0.00 $7.60 $1,617.02
7 $1,617.02 $265.72 $0.00 $9.14 $1,891.88
8 $1,891.88 $265.72 $0.00 $10.70 $2,168.30
9 $2,168.30 $265.72 $0.00 $12.26 $2,446.28
10 $2,446.28 $265.72 $0.00 $13.83 $2,725.83
11 $2,725.83 $265.72 $0.00 $15.41 $3,006.96
12 $3,006.96 $265.72 $0.00 $17.00 $3,289.68
13 $3,289.68 $265.72 $0.00 $18.60 $3,574.00
14 $3,574.00 $265.72 $0.00 $20.21 $3,859.93
15 $3,859.93 $265.72 $0.00 $21.82 $4,147.47
16 $4,147.47 $265.72 $0.00 $23.45 $4,436.64
17 $4,436.64 $265.72 $0.00 $25.09 $4,727.45
18 $4,727.45 $265.72 $0.00 $26.73 $5,019.90
19 $5,019.90 $265.72 $0.00 $28.38 $5,314.00
20 $5,314.00 $265.72 $0.00 $30.05 $5,609.77
21 $5,609.77 $265.72 $0.00 $31.72 $5,907.21
22 $5,907.21 $265.72 $0.00 $33.40 $6,206.33
23 $6,206.33 $265.72 $0.00 $35.09 $6,507.14
24 $6,507.14 $265.72 $0.00 $36.79 $6,809.65
25 $6,809.65 $265.72 $0.00 $38.50 $7,113.87
26 $7,113.87 $265.72 $0.00 $40.22 $7,419.81
27 $7,419.81 $265.72 $0.00 $41.95 $7,727.48
28 $7,727.48 $265.72 $0.00 $43.69 $8,036.89
29 $8,036.89 $265.72 $0.00 $45.44 $8,348.05
30 $8,348.05 $265.72 $0.00 $47.20 $8,660.97
31 $8,660.97 $265.72 $0.00 $48.97 $8,975.66
32 $8,975.66 $265.72 $0.00 $50.75 $9,292.13
33 $9,292.13 $265.72 $0.00 $52.54 $9,610.39
34 $9,610.39 $265.72 $0.00 $54.34 $9,930.45
35 $9,930.45 $265.72 $0.00 $56.15 $10,252.32
36 $10,252.32 $265.72 $0.00 $57.97 $10,576.01
37 $10,576.01 $265.72 $0.00 $59.80 $10,901.53
38 $10,901.53 $265.72 $0.00 $61.64 $11,228.89
39 $11,228.89 $265.72 $0.00 $63.49 $11,558.10
40 $11,558.10 $265.72 $0.00 $65.35 $11,889.17
41 $11,889.17 $265.72 $0.00 $67.22 $12,222.11
42 $12,222.11 $265.72 $0.00 $69.11 $12,556.94
43 $12,556.94 $265.72 $0.00 $71.00 $12,893.66
44 $12,893.66 $265.72 $0.00 $72.90 $13,232.28
45 $13,232.28 $265.72 $0.00 $74.82 $13,572.82
46 $13,572.82 $265.72 $0.00 $76.74 $13,915.28
47 $13,915.28 $265.72 $0.00 $78.68 $14,259.68
48 $14,259.68 $265.72 $0.00 $80.63 $14,606.03
49 $14,606.03 $265.72 $0.00 $82.58 $14,954.33
50 $14,954.33 $265.72 $0.00 $84.55 $15,304.60
51 $15,304.60 $265.72 $0.00 $86.53 $15,656.85
52 $15,656.85 $265.72 $0.00 $88.53 $16,011.10
53 $16,011.10 $265.72 $0.00 $90.53 $16,367.35
54 $16,367.35 $265.72 $0.00 $92.54 $16,725.61
55 $16,725.61 $265.72 $0.00 $94.57 $17,085.90
56 $17,085.90 $265.72 $0.00 $96.61 $17,448.23
57 $17,448.23 $265.72 $0.00 $98.65 $17,812.60
58 $17,812.60 $265.72 $0.00 $100.72 $18,179.04
59 $18,179.04 $265.72 $0.00 $102.79 $18,547.55
60 $18,547.55 $265.72 $0.00 $104.87 $18,918.14
61 $18,918.14 $265.72 $0.00 $106.97 $19,290.83
62 $19,290.83 $265.72 $0.00 $109.07 $19,665.62
63 $19,665.62 $265.72 $0.00 $111.19 $20,042.53
64 $20,042.53 $265.72 $0.00 $113.32 $20,421.57
65 $20,421.57 $265.72 $0.00 $115.47 $20,802.76
66 $20,802.76 $265.72 $0.00 $117.62 $21,186.10
67 $21,186.10 $265.72 $0.00 $119.79 $21,571.61
68 $21,571.61 $265.72 $0.00 $121.97 $21,959.30
69 $21,959.30 $265.72 $0.00 $124.16 $22,349.18
70 $22,349.18 $265.72 $0.00 $126.37 $22,741.27
71 $22,741.27 $265.72 $0.00 $128.58 $23,135.57
72 $23,135.57 $265.72 $0.00 $130.81 $23,532.10
73 $23,532.10 $265.72 $0.00 $133.05 $23,930.87
74 $23,930.87 $265.72 $0.00 $135.31 $24,331.90
75 $24,331.90 $265.72 $0.00 $137.58 $24,735.20
76 $24,735.20 $265.72 $0.00 $139.86 $25,140.78
77 $25,140.78 $265.72 $0.00 $142.15 $25,548.65
78 $25,548.65 $265.72 $0.00 $144.46 $25,958.83
79 $25,958.83 $265.72 $0.00 $146.77 $26,371.32
80 $26,371.32 $265.72 $0.00 $149.11 $26,786.15
81 $26,786.15 $265.72 $0.00 $151.45 $27,203.32
82 $27,203.32 $265.72 $0.00 $153.81 $27,622.85
83 $27,622.85 $265.72 $0.00 $156.18 $28,044.75
84 $28,044.75 $265.72 $0.00 $158.57 $28,469.04
85 $28,469.04 $265.72 $0.00 $160.97 $28,895.73
86 $28,895.73 $265.72 $0.00 $163.38 $29,324.83
87 $29,324.83 $265.72 $0.00 $165.81 $29,756.36
88 $29,756.36 $265.72 $0.00 $168.25 $30,190.33
89 $30,190.33 $265.72 $0.00 $170.70 $30,626.75
90 $30,626.75 $265.72 $0.00 $173.17 $31,065.64
91 $31,065.64 $265.72 $0.00 $175.65 $31,507.01
92 $31,507.01 $265.72 $0.00 $178.15 $31,950.88
93 $31,950.88 $265.72 $0.00 $180.65 $32,397.25
94 $32,397.25 $265.72 $0.00 $183.18 $32,846.15
95 $32,846.15 $265.72 $0.00 $185.72 $33,297.59
96 $33,297.59 $265.72 $0.00 $188.27 $33,751.58
97 $33,751.58 $265.72 $0.00 $190.84 $34,208.14
98 $34,208.14 $265.72 $0.00 $193.42 $34,667.28
99 $34,667.28 $265.72 $0.00 $196.01 $35,129.01
100 $35,129.01 $265.72 $0.00 $198.62 $35,593.35
101 $35,593.35 $265.72 $0.00 $201.25 $36,060.32
102 $36,060.32 $265.72 $0.00 $203.89 $36,529.93
103 $36,529.93 $265.72 $0.00 $206.55 $37,002.20
104 $37,002.20 $265.72 $0.00 $209.22 $37,477.14
105 $37,477.14 $265.72 $0.00 $211.90 $37,954.76
106 $37,954.76 $265.72 $0.00 $214.60 $38,435.08
107 $38,435.08 $265.72 $0.00 $217.32 $38,918.12
108 $38,918.12 $265.72 $0.00 $220.05 $39,403.89
109 $39,403.89 $265.72 $0.00 $222.80 $39,892.41
110 $39,892.41 $265.72 $0.00 $225.56 $40,383.69
111 $40,383.69 $265.72 $0.00 $228.34 $40,877.75
112 $40,877.75 $265.72 $0.00 $231.13 $41,374.60
113 $41,374.60 $265.72 $0.00 $233.94 $41,874.26
114 $41,874.26 $265.72 $0.00 $236.76 $42,376.74
115 $42,376.74 $265.72 $0.00 $239.60 $42,882.06
116 $42,882.06 $265.72 $0.00 $242.46 $43,390.24
117 $43,390.24 $265.72 $0.00 $245.33 $43,901.29
118 $43,901.29 $265.72 $0.00 $248.22 $44,415.23
119 $44,415.23 $265.72 $0.00 $251.13 $44,932.08
120 $44,932.08 $265.72 $0.00 $254.05 $45,451.85
121 $45,451.85 $265.72 $0.00 $256.99 $45,974.56
122 $45,974.56 $265.72 $0.00 $259.95 $46,500.23
123 $46,500.23 $265.72 $0.00 $262.92 $47,028.87
124 $47,028.87 $265.72 $0.00 $265.91 $47,560.50
125 $47,560.50 $265.72 $0.00 $268.91 $48,095.13
126 $48,095.13 $265.72 $0.00 $271.94 $48,632.79
127 $48,632.79 $265.72 $0.00 $274.98 $49,173.49
128 $49,173.49 $265.72 $0.00 $278.03 $49,717.24
129 $49,717.24 $265.72 $0.00 $281.11 $50,264.07
130 $50,264.07 $265.72 $0.00 $284.20 $50,813.99
131 $50,813.99 $265.72 $0.00 $287.31 $51,367.02
132 $51,367.02 $265.72 $0.00 $290.44 $51,923.18
133 $51,923.18 $265.72 $0.00 $293.58 $52,482.48
134 $52,482.48 $265.72 $0.00 $296.74 $53,044.94
135 $53,044.94 $265.72 $0.00 $299.92 $53,610.58
136 $53,610.58 $265.72 $0.00 $303.12 $54,179.42
137 $54,179.42 $265.72 $0.00 $306.34 $54,751.48
138 $54,751.48 $265.72 $0.00 $309.57 $55,326.77
139 $55,326.77 $265.72 $0.00 $312.83 $55,905.32
140 $55,905.32 $265.72 $0.00 $316.10 $56,487.14
141 $56,487.14 $265.72 $0.00 $319.39 $57,072.25
142 $57,072.25 $265.72 $0.00 $322.69 $57,660.66
143 $57,660.66 $265.72 $0.00 $326.02 $58,252.40
144 $58,252.40 $265.72 $0.00 $329.37 $58,847.49
145 $58,847.49 $265.72 $0.00 $332.73 $59,445.94
146 $59,445.94 $265.72 $0.00 $336.12 $60,047.78
147 $60,047.78 $265.72 $0.00 $339.52 $60,653.02
148 $60,653.02 $265.72 $0.00 $342.94 $61,261.68
149 $61,261.68 $265.72 $0.00 $346.38 $61,873.78
150 $61,873.78 $265.72 $0.00 $349.84 $62,489.34
151 $62,489.34 $265.72 $0.00 $353.32 $63,108.38
152 $63,108.38 $265.72 $0.00 $356.82 $63,730.92
153 $63,730.92 $265.72 $0.00 $360.34 $64,356.98
154 $64,356.98 $265.72 $0.00 $363.88 $64,986.58
155 $64,986.58 $265.72 $0.00 $367.44 $65,619.74
156 $65,619.74 $265.72 $0.00 $371.02 $66,256.48
157 $66,256.48 $265.72 $0.00 $374.62 $66,896.82
158 $66,896.82 $265.72 $0.00 $378.24 $67,540.78
159 $67,540.78 $265.72 $0.00 $381.89 $68,188.39
160 $68,188.39 $265.72 $0.00 $385.55 $68,839.66
161 $68,839.66 $265.72 $0.00 $389.23 $69,494.61
162 $69,494.61 $265.72 $0.00 $392.93 $70,153.26
163 $70,153.26 $265.72 $0.00 $396.66 $70,815.64
164 $70,815.64 $265.72 $0.00 $400.40 $71,481.76
165 $71,481.76 $265.72 $0.00 $404.17 $72,151.65
166 $72,151.65 $265.72 $0.00 $407.96 $72,825.33
167 $72,825.33 $265.72 $0.00 $411.77 $73,502.82
168 $73,502.82 $265.72 $0.00 $415.60 $74,184.14
169 $74,184.14 $265.72 $0.00 $419.45 $74,869.31
170 $74,869.31 $265.72 $0.00 $423.32 $75,558.35
171 $75,558.35 $265.72 $0.00 $427.22 $76,251.29
172 $76,251.29 $265.72 $0.00 $431.14 $76,948.15
173 $76,948.15 $265.72 $0.00 $435.08 $77,648.95
174 $77,648.95 $265.72 $0.00 $439.04 $78,353.71
175 $78,353.71 $265.72 $0.00 $443.02 $79,062.45
176 $79,062.45 $265.72 $0.00 $447.03 $79,775.20
177 $79,775.20 $265.72 $0.00 $451.06 $80,491.98
178 $80,491.98 $265.72 $0.00 $455.11 $81,212.81
179 $81,212.81 $265.72 $0.00 $459.19 $81,937.72
180 $81,937.72 $265.72 $0.00 $463.29 $82,666.73
181 $82,666.73 $265.72 $0.00 $467.41 $83,399.86
182 $83,399.86 $265.72 $0.00 $471.55 $84,137.13
183 $84,137.13 $265.72 $0.00 $475.72 $84,878.57
184 $84,878.57 $265.72 $0.00 $479.92 $85,624.21
185 $85,624.21 $265.72 $0.00 $484.13 $86,374.06
186 $86,374.06 $265.72 $0.00 $488.37 $87,128.15
187 $87,128.15 $265.72 $0.00 $492.64 $87,886.51
188 $87,886.51 $265.72 $0.00 $496.92 $88,649.15
189 $88,649.15 $265.72 $0.00 $501.24 $89,416.11
190 $89,416.11 $265.72 $0.00 $505.57 $90,187.40
191 $90,187.40 $265.72 $0.00 $509.93 $90,963.05
192 $90,963.05 $265.72 $0.00 $514.32 $91,743.09
193 $91,743.09 $265.72 $0.00 $518.73 $92,527.54
194 $92,527.54 $265.72 $0.00 $523.16 $93,316.42
195 $93,316.42 $265.72 $0.00 $527.62 $94,109.76
196 $94,109.76 $265.72 $0.00 $532.11 $94,907.59
197 $94,907.59 $265.72 $0.00 $536.62 $95,709.93
198 $95,709.93 $265.72 $0.00 $541.16 $96,516.81
199 $96,516.81 $265.72 $0.00 $545.72 $97,328.25
200 $97,328.25 $265.72 $0.00 $550.31 $98,144.28
201 $98,144.28 $265.72 $0.00 $554.92 $98,964.92
202 $98,964.92 $265.72 $0.00 $559.56 $99,790.20
203 $99,790.20 $265.72 $0.00 $564.23 $100,620.15
204 $100,620.15 $265.72 $0.00 $568.92 $101,454.79
205 $101,454.79 $265.72 $0.00 $573.64 $102,294.15
206 $102,294.15 $265.72 $0.00 $578.39 $103,138.26
207 $103,138.26 $265.72 $0.00 $583.16 $103,987.14
208 $103,987.14 $265.72 $0.00 $587.96 $104,840.82
209 $104,840.82 $265.72 $0.00 $592.79 $105,699.33
210 $105,699.33 $265.72 $0.00 $597.64 $106,562.69
211 $106,562.69 $265.72 $0.00 $602.52 $107,430.93
212 $107,430.93 $265.72 $0.00 $607.43 $108,304.08
213 $108,304.08 $265.72 $0.00 $612.37 $109,182.17
214 $109,182.17 $265.72 $0.00 $617.33 $110,065.22
215 $110,065.22 $265.72 $0.00 $622.32 $110,953.26
216 $110,953.26 $265.72 $0.00 $627.35 $111,846.33
217 $111,846.33 $265.72 $57,783.32 $632.40 $54,961.13
218 $54,961.13 $265.72 $0.00 $310.76 $55,537.61
219 $55,537.61 $265.72 $0.00 $314.02 $56,117.35
220 $56,117.35 $265.72 $0.00 $317.30 $56,700.37
221 $56,700.37 $265.72 $0.00 $320.59 $57,286.68
222 $57,286.68 $265.72 $0.00 $323.91 $57,876.31
223 $57,876.31 $265.72 $0.00 $327.24 $58,469.27
224 $58,469.27 $265.72 $0.00 $330.59 $59,065.58
225 $59,065.58 $265.72 $0.00 $333.97 $59,665.27
226 $59,665.27 $265.72 $0.00 $337.36 $60,268.35
227 $60,268.35 $265.72 $0.00 $340.77 $60,874.84
228 $60,874.84 $265.72 $0.00 $344.20 $61,484.76
229 $61,484.76 $0.00 $61,828.15 $347.64 $4.25