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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$69,635
Monthly savings required$551

How much will it cost to send your child to Miami Dade College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $278,541.60 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $551.22 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$26,853.00
Years until enrollment18
Annual Tuition Increase5%
Current Savings$0.00
After Tax Return on Savings7%
Years of enrollment4

Current Savings Shortfall

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Planned Savings Balance

College Savings Schedule

Month Begin Deposit Withdraw Interest End
1 $0.00 $551.22 $0.00 $0.00 $551.22
2 $551.22 $551.22 $0.00 $3.12 $1,105.56
3 $1,105.56 $551.22 $0.00 $6.25 $1,663.03
4 $1,663.03 $551.22 $0.00 $9.40 $2,223.65
5 $2,223.65 $551.22 $0.00 $12.57 $2,787.44
6 $2,787.44 $551.22 $0.00 $15.76 $3,354.42
7 $3,354.42 $551.22 $0.00 $18.97 $3,924.61
8 $3,924.61 $551.22 $0.00 $22.19 $4,498.02
9 $4,498.02 $551.22 $0.00 $25.43 $5,074.67
10 $5,074.67 $551.22 $0.00 $28.69 $5,654.58
11 $5,654.58 $551.22 $0.00 $31.97 $6,237.77
12 $6,237.77 $551.22 $0.00 $35.27 $6,824.26
13 $6,824.26 $551.22 $0.00 $38.59 $7,414.07
14 $7,414.07 $551.22 $0.00 $41.92 $8,007.21
15 $8,007.21 $551.22 $0.00 $45.27 $8,603.70
16 $8,603.70 $551.22 $0.00 $48.65 $9,203.57
17 $9,203.57 $551.22 $0.00 $52.04 $9,806.83
18 $9,806.83 $551.22 $0.00 $55.45 $10,413.50
19 $10,413.50 $551.22 $0.00 $58.88 $11,023.60
20 $11,023.60 $551.22 $0.00 $62.33 $11,637.15
21 $11,637.15 $551.22 $0.00 $65.80 $12,254.17
22 $12,254.17 $551.22 $0.00 $69.29 $12,874.68
23 $12,874.68 $551.22 $0.00 $72.80 $13,498.70
24 $13,498.70 $551.22 $0.00 $76.32 $14,126.24
25 $14,126.24 $551.22 $0.00 $79.87 $14,757.33
26 $14,757.33 $551.22 $0.00 $83.44 $15,391.99
27 $15,391.99 $551.22 $0.00 $87.03 $16,030.24
28 $16,030.24 $551.22 $0.00 $90.64 $16,672.10
29 $16,672.10 $551.22 $0.00 $94.27 $17,317.59
30 $17,317.59 $551.22 $0.00 $97.92 $17,966.73
31 $17,966.73 $551.22 $0.00 $101.59 $18,619.54
32 $18,619.54 $551.22 $0.00 $105.28 $19,276.04
33 $19,276.04 $551.22 $0.00 $108.99 $19,936.25
34 $19,936.25 $551.22 $0.00 $112.72 $20,600.19
35 $20,600.19 $551.22 $0.00 $116.48 $21,267.89
36 $21,267.89 $551.22 $0.00 $120.25 $21,939.36
37 $21,939.36 $551.22 $0.00 $124.05 $22,614.63
38 $22,614.63 $551.22 $0.00 $127.87 $23,293.72
39 $23,293.72 $551.22 $0.00 $131.71 $23,976.65
40 $23,976.65 $551.22 $0.00 $135.57 $24,663.44
41 $24,663.44 $551.22 $0.00 $139.45 $25,354.11
42 $25,354.11 $551.22 $0.00 $143.36 $26,048.69
43 $26,048.69 $551.22 $0.00 $147.28 $26,747.19
44 $26,747.19 $551.22 $0.00 $151.23 $27,449.64
45 $27,449.64 $551.22 $0.00 $155.20 $28,156.06
46 $28,156.06 $551.22 $0.00 $159.20 $28,866.48
47 $28,866.48 $551.22 $0.00 $163.22 $29,580.92
48 $29,580.92 $551.22 $0.00 $167.25 $30,299.39
49 $30,299.39 $551.22 $0.00 $171.32 $31,021.93
50 $31,021.93 $551.22 $0.00 $175.40 $31,748.55
51 $31,748.55 $551.22 $0.00 $179.51 $32,479.28
52 $32,479.28 $551.22 $0.00 $183.64 $33,214.14
53 $33,214.14 $551.22 $0.00 $187.80 $33,953.16
54 $33,953.16 $551.22 $0.00 $191.98 $34,696.36
55 $34,696.36 $551.22 $0.00 $196.18 $35,443.76
56 $35,443.76 $551.22 $0.00 $200.40 $36,195.38
57 $36,195.38 $551.22 $0.00 $204.65 $36,951.25
58 $36,951.25 $551.22 $0.00 $208.93 $37,711.40
59 $37,711.40 $551.22 $0.00 $213.23 $38,475.85
60 $38,475.85 $551.22 $0.00 $217.55 $39,244.62
61 $39,244.62 $551.22 $0.00 $221.89 $40,017.73
62 $40,017.73 $551.22 $0.00 $226.27 $40,795.22
63 $40,795.22 $551.22 $0.00 $230.66 $41,577.10
64 $41,577.10 $551.22 $0.00 $235.08 $42,363.40
65 $42,363.40 $551.22 $0.00 $239.53 $43,154.15
66 $43,154.15 $551.22 $0.00 $244.00 $43,949.37
67 $43,949.37 $551.22 $0.00 $248.50 $44,749.09
68 $44,749.09 $551.22 $0.00 $253.02 $45,553.33
69 $45,553.33 $551.22 $0.00 $257.57 $46,362.12
70 $46,362.12 $551.22 $0.00 $262.14 $47,175.48
71 $47,175.48 $551.22 $0.00 $266.74 $47,993.44
72 $47,993.44 $551.22 $0.00 $271.36 $48,816.02
73 $48,816.02 $551.22 $0.00 $276.01 $49,643.25
74 $49,643.25 $551.22 $0.00 $280.69 $50,475.16
75 $50,475.16 $551.22 $0.00 $285.39 $51,311.77
76 $51,311.77 $551.22 $0.00 $290.12 $52,153.11
77 $52,153.11 $551.22 $0.00 $294.88 $52,999.21
78 $52,999.21 $551.22 $0.00 $299.67 $53,850.10
79 $53,850.10 $551.22 $0.00 $304.48 $54,705.80
80 $54,705.80 $551.22 $0.00 $309.31 $55,566.33
81 $55,566.33 $551.22 $0.00 $314.18 $56,431.73
82 $56,431.73 $551.22 $0.00 $319.07 $57,302.02
83 $57,302.02 $551.22 $0.00 $323.99 $58,177.23
84 $58,177.23 $551.22 $0.00 $328.94 $59,057.39
85 $59,057.39 $551.22 $0.00 $333.92 $59,942.53
86 $59,942.53 $551.22 $0.00 $338.92 $60,832.67
87 $60,832.67 $551.22 $0.00 $343.96 $61,727.85
88 $61,727.85 $551.22 $0.00 $349.02 $62,628.09
89 $62,628.09 $551.22 $0.00 $354.11 $63,533.42
90 $63,533.42 $551.22 $0.00 $359.23 $64,443.87
91 $64,443.87 $551.22 $0.00 $364.38 $65,359.47
92 $65,359.47 $551.22 $0.00 $369.55 $66,280.24
93 $66,280.24 $551.22 $0.00 $374.76 $67,206.22
94 $67,206.22 $551.22 $0.00 $379.99 $68,137.43
95 $68,137.43 $551.22 $0.00 $385.26 $69,073.91
96 $69,073.91 $551.22 $0.00 $390.55 $70,015.68
97 $70,015.68 $551.22 $0.00 $395.88 $70,962.78
98 $70,962.78 $551.22 $0.00 $401.23 $71,915.23
99 $71,915.23 $551.22 $0.00 $406.62 $72,873.07
100 $72,873.07 $551.22 $0.00 $412.03 $73,836.32
101 $73,836.32 $551.22 $0.00 $417.48 $74,805.02
102 $74,805.02 $551.22 $0.00 $422.96 $75,779.20
103 $75,779.20 $551.22 $0.00 $428.47 $76,758.89
104 $76,758.89 $551.22 $0.00 $434.01 $77,744.12
105 $77,744.12 $551.22 $0.00 $439.58 $78,734.92
106 $78,734.92 $551.22 $0.00 $445.18 $79,731.32
107 $79,731.32 $551.22 $0.00 $450.81 $80,733.35
108 $80,733.35 $551.22 $0.00 $456.48 $81,741.05
109 $81,741.05 $551.22 $0.00 $462.18 $82,754.45
110 $82,754.45 $551.22 $0.00 $467.91 $83,773.58
111 $83,773.58 $551.22 $0.00 $473.67 $84,798.47
112 $84,798.47 $551.22 $0.00 $479.46 $85,829.15
113 $85,829.15 $551.22 $0.00 $485.29 $86,865.66
114 $86,865.66 $551.22 $0.00 $491.15 $87,908.03
115 $87,908.03 $551.22 $0.00 $497.04 $88,956.29
116 $88,956.29 $551.22 $0.00 $502.97 $90,010.48
117 $90,010.48 $551.22 $0.00 $508.93 $91,070.63
118 $91,070.63 $551.22 $0.00 $514.93 $92,136.78
119 $92,136.78 $551.22 $0.00 $520.95 $93,208.95
120 $93,208.95 $551.22 $0.00 $527.02 $94,287.19
121 $94,287.19 $551.22 $0.00 $533.11 $95,371.52
122 $95,371.52 $551.22 $0.00 $539.24 $96,461.98
123 $96,461.98 $551.22 $0.00 $545.41 $97,558.61
124 $97,558.61 $551.22 $0.00 $551.61 $98,661.44
125 $98,661.44 $551.22 $0.00 $557.85 $99,770.51
126 $99,770.51 $551.22 $0.00 $564.12 $100,885.85
127 $100,885.85 $551.22 $0.00 $570.42 $102,007.49
128 $102,007.49 $551.22 $0.00 $576.77 $103,135.48
129 $103,135.48 $551.22 $0.00 $583.14 $104,269.84
130 $104,269.84 $551.22 $0.00 $589.56 $105,410.62
131 $105,410.62 $551.22 $0.00 $596.01 $106,557.85
132 $106,557.85 $551.22 $0.00 $602.49 $107,711.56
133 $107,711.56 $551.22 $0.00 $609.02 $108,871.80
134 $108,871.80 $551.22 $0.00 $615.58 $110,038.60
135 $110,038.60 $551.22 $0.00 $622.17 $111,211.99
136 $111,211.99 $551.22 $0.00 $628.81 $112,392.02
137 $112,392.02 $551.22 $0.00 $635.48 $113,578.72
138 $113,578.72 $551.22 $0.00 $642.19 $114,772.13
139 $114,772.13 $551.22 $0.00 $648.94 $115,972.29
140 $115,972.29 $551.22 $0.00 $655.72 $117,179.23
141 $117,179.23 $551.22 $0.00 $662.55 $118,393.00
142 $118,393.00 $551.22 $0.00 $669.41 $119,613.63
143 $119,613.63 $551.22 $0.00 $676.31 $120,841.16
144 $120,841.16 $551.22 $0.00 $683.25 $122,075.63
145 $122,075.63 $551.22 $0.00 $690.23 $123,317.08
146 $123,317.08 $551.22 $0.00 $697.25 $124,565.55
147 $124,565.55 $551.22 $0.00 $704.31 $125,821.08
148 $125,821.08 $551.22 $0.00 $711.41 $127,083.71
149 $127,083.71 $551.22 $0.00 $718.55 $128,353.48
150 $128,353.48 $551.22 $0.00 $725.73 $129,630.43
151 $129,630.43 $551.22 $0.00 $732.95 $130,914.60
152 $130,914.60 $551.22 $0.00 $740.21 $132,206.03
153 $132,206.03 $551.22 $0.00 $747.51 $133,504.76
154 $133,504.76 $551.22 $0.00 $754.86 $134,810.84
155 $134,810.84 $551.22 $0.00 $762.24 $136,124.30
156 $136,124.30 $551.22 $0.00 $769.67 $137,445.19
157 $137,445.19 $551.22 $0.00 $777.14 $138,773.55
158 $138,773.55 $551.22 $0.00 $784.65 $140,109.42
159 $140,109.42 $551.22 $0.00 $792.20 $141,452.84
160 $141,452.84 $551.22 $0.00 $799.79 $142,803.85
161 $142,803.85 $551.22 $0.00 $807.43 $144,162.50
162 $144,162.50 $551.22 $0.00 $815.12 $145,528.84
163 $145,528.84 $551.22 $0.00 $822.84 $146,902.90
164 $146,902.90 $551.22 $0.00 $830.61 $148,284.73
165 $148,284.73 $551.22 $0.00 $838.42 $149,674.37
166 $149,674.37 $551.22 $0.00 $846.28 $151,071.87
167 $151,071.87 $551.22 $0.00 $854.18 $152,477.27
168 $152,477.27 $551.22 $0.00 $862.13 $153,890.62
169 $153,890.62 $551.22 $0.00 $870.12 $155,311.96
170 $155,311.96 $551.22 $0.00 $878.16 $156,741.34
171 $156,741.34 $551.22 $0.00 $886.24 $158,178.80
172 $158,178.80 $551.22 $0.00 $894.37 $159,624.39
173 $159,624.39 $551.22 $0.00 $902.54 $161,078.15
174 $161,078.15 $551.22 $0.00 $910.76 $162,540.13
175 $162,540.13 $551.22 $0.00 $919.03 $164,010.38
176 $164,010.38 $551.22 $0.00 $927.34 $165,488.94
177 $165,488.94 $551.22 $0.00 $935.70 $166,975.86
178 $166,975.86 $551.22 $0.00 $944.11 $168,471.19
179 $168,471.19 $551.22 $0.00 $952.56 $169,974.97
180 $169,974.97 $551.22 $0.00 $961.06 $171,487.25
181 $171,487.25 $551.22 $0.00 $969.61 $173,008.08
182 $173,008.08 $551.22 $0.00 $978.21 $174,537.51
183 $174,537.51 $551.22 $0.00 $986.86 $176,075.59
184 $176,075.59 $551.22 $0.00 $995.56 $177,622.37
185 $177,622.37 $551.22 $0.00 $1,004.30 $179,177.89
186 $179,177.89 $551.22 $0.00 $1,013.10 $180,742.21
187 $180,742.21 $551.22 $0.00 $1,021.94 $182,315.37
188 $182,315.37 $551.22 $0.00 $1,030.84 $183,897.43
189 $183,897.43 $551.22 $0.00 $1,039.78 $185,488.43
190 $185,488.43 $551.22 $0.00 $1,048.78 $187,088.43
191 $187,088.43 $551.22 $0.00 $1,057.83 $188,697.48
192 $188,697.48 $551.22 $0.00 $1,066.92 $190,315.62
193 $190,315.62 $551.22 $0.00 $1,076.07 $191,942.91
194 $191,942.91 $551.22 $0.00 $1,085.27 $193,579.40
195 $193,579.40 $551.22 $0.00 $1,094.53 $195,225.15
196 $195,225.15 $551.22 $0.00 $1,103.83 $196,880.20
197 $196,880.20 $551.22 $0.00 $1,113.19 $198,544.61
198 $198,544.61 $551.22 $0.00 $1,122.60 $200,218.43
199 $200,218.43 $551.22 $0.00 $1,132.06 $201,901.71
200 $201,901.71 $551.22 $0.00 $1,141.58 $203,594.51
201 $203,594.51 $551.22 $0.00 $1,151.15 $205,296.88
202 $205,296.88 $551.22 $0.00 $1,160.78 $207,008.88
203 $207,008.88 $551.22 $0.00 $1,170.46 $208,730.56
204 $208,730.56 $551.22 $0.00 $1,180.19 $210,461.97
205 $210,461.97 $551.22 $0.00 $1,189.98 $212,203.17
206 $212,203.17 $551.22 $0.00 $1,199.83 $213,954.22
207 $213,954.22 $551.22 $0.00 $1,209.73 $215,715.17
208 $215,715.17 $551.22 $0.00 $1,219.68 $217,486.07
209 $217,486.07 $551.22 $0.00 $1,229.70 $219,266.99
210 $219,266.99 $551.22 $0.00 $1,239.77 $221,057.98
211 $221,057.98 $551.22 $0.00 $1,249.89 $222,859.09
212 $222,859.09 $551.22 $0.00 $1,260.08 $224,670.39
213 $224,670.39 $551.22 $0.00 $1,270.32 $226,491.93
214 $226,491.93 $551.22 $0.00 $1,280.62 $228,323.77
215 $228,323.77 $551.22 $0.00 $1,290.98 $230,165.97
216 $230,165.97 $551.22 $0.00 $1,301.39 $232,018.58
217 $232,018.58 $551.22 $64,624.95 $1,311.87 $169,256.72
218 $169,256.72 $551.22 $0.00 $957.00 $170,764.94
219 $170,764.94 $551.22 $0.00 $965.53 $172,281.69
220 $172,281.69 $551.22 $0.00 $974.11 $173,807.02
221 $173,807.02 $551.22 $0.00 $982.73 $175,340.97
222 $175,340.97 $551.22 $0.00 $991.40 $176,883.59
223 $176,883.59 $551.22 $0.00 $1,000.13 $178,434.94
224 $178,434.94 $551.22 $0.00 $1,008.90 $179,995.06
225 $179,995.06 $551.22 $0.00 $1,017.72 $181,564.00
226 $181,564.00 $551.22 $0.00 $1,026.59 $183,141.81
227 $183,141.81 $551.22 $0.00 $1,035.51 $184,728.54
228 $184,728.54 $551.22 $0.00 $1,044.48 $186,324.24
229 $186,324.24 $551.22 $67,856.19 $1,053.50 $120,072.77
230 $120,072.77 $551.22 $0.00 $678.91 $121,302.90
231 $121,302.90 $551.22 $0.00 $685.86 $122,539.98
232 $122,539.98 $551.22 $0.00 $692.86 $123,784.06
233 $123,784.06 $551.22 $0.00 $699.89 $125,035.17
234 $125,035.17 $551.22 $0.00 $706.97 $126,293.36
235 $126,293.36 $551.22 $0.00 $714.08 $127,558.66
236 $127,558.66 $551.22 $0.00 $721.24 $128,831.12
237 $128,831.12 $551.22 $0.00 $728.43 $130,110.77
238 $130,110.77 $551.22 $0.00 $735.67 $131,397.66
239 $131,397.66 $551.22 $0.00 $742.94 $132,691.82
240 $132,691.82 $551.22 $0.00 $750.26 $133,993.30
241 $133,993.30 $551.22 $71,249.00 $757.62 $64,053.14
242 $64,053.14 $551.22 $0.00 $362.17 $64,966.53
243 $64,966.53 $551.22 $0.00 $367.33 $65,885.08
244 $65,885.08 $551.22 $0.00 $372.52 $66,808.82
245 $66,808.82 $551.22 $0.00 $377.75 $67,737.79
246 $67,737.79 $551.22 $0.00 $383.00 $68,672.01
247 $68,672.01 $551.22 $0.00 $388.28 $69,611.51
248 $69,611.51 $551.22 $0.00 $393.59 $70,556.32
249 $70,556.32 $551.22 $0.00 $398.94 $71,506.48
250 $71,506.48 $551.22 $0.00 $404.31 $72,462.01
251 $72,462.01 $551.22 $0.00 $409.71 $73,422.94
252 $73,422.94 $551.22 $0.00 $415.14 $74,389.30
253 $74,389.30 $0.00 $74,811.45 $420.61 ($1.54)