Savings Plan and Future Cost Estimation for City College Miami

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$147,707
Monthly savings required$1,167

How much will it cost to send your child to City College Miami in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $590,829.05 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,167.36 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$39,371.00
Years until enrollment18
Annual Tuition Increase7%
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 $1,167.36 $0.00 $0.00 $1,167.36
2 $1,167.36 $1,167.36 $0.00 $6.60 $2,341.32
3 $2,341.32 $1,167.36 $0.00 $13.24 $3,521.92
4 $3,521.92 $1,167.36 $0.00 $19.91 $4,709.19
5 $4,709.19 $1,167.36 $0.00 $26.63 $5,903.18
6 $5,903.18 $1,167.36 $0.00 $33.38 $7,103.92
7 $7,103.92 $1,167.36 $0.00 $40.17 $8,311.45
8 $8,311.45 $1,167.36 $0.00 $46.99 $9,525.80
9 $9,525.80 $1,167.36 $0.00 $53.86 $10,747.02
10 $10,747.02 $1,167.36 $0.00 $60.77 $11,975.15
11 $11,975.15 $1,167.36 $0.00 $67.71 $13,210.22
12 $13,210.22 $1,167.36 $0.00 $74.69 $14,452.27
13 $14,452.27 $1,167.36 $0.00 $81.72 $15,701.35
14 $15,701.35 $1,167.36 $0.00 $88.78 $16,957.49
15 $16,957.49 $1,167.36 $0.00 $95.88 $18,220.73
16 $18,220.73 $1,167.36 $0.00 $103.02 $19,491.11
17 $19,491.11 $1,167.36 $0.00 $110.21 $20,768.68
18 $20,768.68 $1,167.36 $0.00 $117.43 $22,053.47
19 $22,053.47 $1,167.36 $0.00 $124.69 $23,345.52
20 $23,345.52 $1,167.36 $0.00 $132.00 $24,644.88
21 $24,644.88 $1,167.36 $0.00 $139.35 $25,951.59
22 $25,951.59 $1,167.36 $0.00 $146.73 $27,265.68
23 $27,265.68 $1,167.36 $0.00 $154.16 $28,587.20
24 $28,587.20 $1,167.36 $0.00 $161.64 $29,916.20
25 $29,916.20 $1,167.36 $0.00 $169.15 $31,252.71
26 $31,252.71 $1,167.36 $0.00 $176.71 $32,596.78
27 $32,596.78 $1,167.36 $0.00 $184.31 $33,948.45
28 $33,948.45 $1,167.36 $0.00 $191.95 $35,307.76
29 $35,307.76 $1,167.36 $0.00 $199.64 $36,674.76
30 $36,674.76 $1,167.36 $0.00 $207.36 $38,049.48
31 $38,049.48 $1,167.36 $0.00 $215.14 $39,431.98
32 $39,431.98 $1,167.36 $0.00 $222.95 $40,822.29
33 $40,822.29 $1,167.36 $0.00 $230.82 $42,220.47
34 $42,220.47 $1,167.36 $0.00 $238.72 $43,626.55
35 $43,626.55 $1,167.36 $0.00 $246.67 $45,040.58
36 $45,040.58 $1,167.36 $0.00 $254.67 $46,462.61
37 $46,462.61 $1,167.36 $0.00 $262.71 $47,892.68
38 $47,892.68 $1,167.36 $0.00 $270.79 $49,330.83
39 $49,330.83 $1,167.36 $0.00 $278.92 $50,777.11
40 $50,777.11 $1,167.36 $0.00 $287.10 $52,231.57
41 $52,231.57 $1,167.36 $0.00 $295.32 $53,694.25
42 $53,694.25 $1,167.36 $0.00 $303.60 $55,165.21
43 $55,165.21 $1,167.36 $0.00 $311.91 $56,644.48
44 $56,644.48 $1,167.36 $0.00 $320.28 $58,132.12
45 $58,132.12 $1,167.36 $0.00 $328.69 $59,628.17
46 $59,628.17 $1,167.36 $0.00 $337.15 $61,132.68
47 $61,132.68 $1,167.36 $0.00 $345.65 $62,645.69
48 $62,645.69 $1,167.36 $0.00 $354.21 $64,167.26
49 $64,167.26 $1,167.36 $0.00 $362.81 $65,697.43
50 $65,697.43 $1,167.36 $0.00 $371.46 $67,236.25
51 $67,236.25 $1,167.36 $0.00 $380.16 $68,783.77
52 $68,783.77 $1,167.36 $0.00 $388.91 $70,340.04
53 $70,340.04 $1,167.36 $0.00 $397.71 $71,905.11
54 $71,905.11 $1,167.36 $0.00 $406.56 $73,479.03
55 $73,479.03 $1,167.36 $0.00 $415.46 $75,061.85
56 $75,061.85 $1,167.36 $0.00 $424.41 $76,653.62
57 $76,653.62 $1,167.36 $0.00 $433.41 $78,254.39
58 $78,254.39 $1,167.36 $0.00 $442.46 $79,864.21
59 $79,864.21 $1,167.36 $0.00 $451.56 $81,483.13
60 $81,483.13 $1,167.36 $0.00 $460.72 $83,111.21
61 $83,111.21 $1,167.36 $0.00 $469.92 $84,748.49
62 $84,748.49 $1,167.36 $0.00 $479.18 $86,395.03
63 $86,395.03 $1,167.36 $0.00 $488.49 $88,050.88
64 $88,050.88 $1,167.36 $0.00 $497.85 $89,716.09
65 $89,716.09 $1,167.36 $0.00 $507.27 $91,390.72
66 $91,390.72 $1,167.36 $0.00 $516.74 $93,074.82
67 $93,074.82 $1,167.36 $0.00 $526.26 $94,768.44
68 $94,768.44 $1,167.36 $0.00 $535.83 $96,471.63
69 $96,471.63 $1,167.36 $0.00 $545.46 $98,184.45
70 $98,184.45 $1,167.36 $0.00 $555.15 $99,906.96
71 $99,906.96 $1,167.36 $0.00 $564.89 $101,639.21
72 $101,639.21 $1,167.36 $0.00 $574.68 $103,381.25
73 $103,381.25 $1,167.36 $0.00 $584.53 $105,133.14
74 $105,133.14 $1,167.36 $0.00 $594.44 $106,894.94
75 $106,894.94 $1,167.36 $0.00 $604.40 $108,666.70
76 $108,666.70 $1,167.36 $0.00 $614.42 $110,448.48
77 $110,448.48 $1,167.36 $0.00 $624.49 $112,240.33
78 $112,240.33 $1,167.36 $0.00 $634.62 $114,042.31
79 $114,042.31 $1,167.36 $0.00 $644.81 $115,854.48
80 $115,854.48 $1,167.36 $0.00 $655.06 $117,676.90
81 $117,676.90 $1,167.36 $0.00 $665.36 $119,509.62
82 $119,509.62 $1,167.36 $0.00 $675.72 $121,352.70
83 $121,352.70 $1,167.36 $0.00 $686.15 $123,206.21
84 $123,206.21 $1,167.36 $0.00 $696.63 $125,070.20
85 $125,070.20 $1,167.36 $0.00 $707.17 $126,944.73
86 $126,944.73 $1,167.36 $0.00 $717.76 $128,829.85
87 $128,829.85 $1,167.36 $0.00 $728.42 $130,725.63
88 $130,725.63 $1,167.36 $0.00 $739.14 $132,632.13
89 $132,632.13 $1,167.36 $0.00 $749.92 $134,549.41
90 $134,549.41 $1,167.36 $0.00 $760.76 $136,477.53
91 $136,477.53 $1,167.36 $0.00 $771.66 $138,416.55
92 $138,416.55 $1,167.36 $0.00 $782.63 $140,366.54
93 $140,366.54 $1,167.36 $0.00 $793.65 $142,327.55
94 $142,327.55 $1,167.36 $0.00 $804.74 $144,299.65
95 $144,299.65 $1,167.36 $0.00 $815.89 $146,282.90
96 $146,282.90 $1,167.36 $0.00 $827.10 $148,277.36
97 $148,277.36 $1,167.36 $0.00 $838.38 $150,283.10
98 $150,283.10 $1,167.36 $0.00 $849.72 $152,300.18
99 $152,300.18 $1,167.36 $0.00 $861.13 $154,328.67
100 $154,328.67 $1,167.36 $0.00 $872.60 $156,368.63
101 $156,368.63 $1,167.36 $0.00 $884.13 $158,420.12
102 $158,420.12 $1,167.36 $0.00 $895.73 $160,483.21
103 $160,483.21 $1,167.36 $0.00 $907.40 $162,557.97
104 $162,557.97 $1,167.36 $0.00 $919.13 $164,644.46
105 $164,644.46 $1,167.36 $0.00 $930.92 $166,742.74
106 $166,742.74 $1,167.36 $0.00 $942.79 $168,852.89
107 $168,852.89 $1,167.36 $0.00 $954.72 $170,974.97
108 $170,974.97 $1,167.36 $0.00 $966.72 $173,109.05
109 $173,109.05 $1,167.36 $0.00 $978.78 $175,255.19
110 $175,255.19 $1,167.36 $0.00 $990.92 $177,413.47
111 $177,413.47 $1,167.36 $0.00 $1,003.12 $179,583.95
112 $179,583.95 $1,167.36 $0.00 $1,015.39 $181,766.70
113 $181,766.70 $1,167.36 $0.00 $1,027.74 $183,961.80
114 $183,961.80 $1,167.36 $0.00 $1,040.15 $186,169.31
115 $186,169.31 $1,167.36 $0.00 $1,052.63 $188,389.30
116 $188,389.30 $1,167.36 $0.00 $1,065.18 $190,621.84
117 $190,621.84 $1,167.36 $0.00 $1,077.80 $192,867.00
118 $192,867.00 $1,167.36 $0.00 $1,090.50 $195,124.86
119 $195,124.86 $1,167.36 $0.00 $1,103.26 $197,395.48
120 $197,395.48 $1,167.36 $0.00 $1,116.10 $199,678.94
121 $199,678.94 $1,167.36 $0.00 $1,129.01 $201,975.31
122 $201,975.31 $1,167.36 $0.00 $1,142.00 $204,284.67
123 $204,284.67 $1,167.36 $0.00 $1,155.06 $206,607.09
124 $206,607.09 $1,167.36 $0.00 $1,168.19 $208,942.64
125 $208,942.64 $1,167.36 $0.00 $1,181.39 $211,291.39
126 $211,291.39 $1,167.36 $0.00 $1,194.67 $213,653.42
127 $213,653.42 $1,167.36 $0.00 $1,208.03 $216,028.81
128 $216,028.81 $1,167.36 $0.00 $1,221.46 $218,417.63
129 $218,417.63 $1,167.36 $0.00 $1,234.97 $220,819.96
130 $220,819.96 $1,167.36 $0.00 $1,248.55 $223,235.87
131 $223,235.87 $1,167.36 $0.00 $1,262.21 $225,665.44
132 $225,665.44 $1,167.36 $0.00 $1,275.95 $228,108.75
133 $228,108.75 $1,167.36 $0.00 $1,289.76 $230,565.87
134 $230,565.87 $1,167.36 $0.00 $1,303.65 $233,036.88
135 $233,036.88 $1,167.36 $0.00 $1,317.62 $235,521.86
136 $235,521.86 $1,167.36 $0.00 $1,331.67 $238,020.89
137 $238,020.89 $1,167.36 $0.00 $1,345.80 $240,534.05
138 $240,534.05 $1,167.36 $0.00 $1,360.01 $243,061.42
139 $243,061.42 $1,167.36 $0.00 $1,374.30 $245,603.08
140 $245,603.08 $1,167.36 $0.00 $1,388.68 $248,159.12
141 $248,159.12 $1,167.36 $0.00 $1,403.13 $250,729.61
142 $250,729.61 $1,167.36 $0.00 $1,417.66 $253,314.63
143 $253,314.63 $1,167.36 $0.00 $1,432.28 $255,914.27
144 $255,914.27 $1,167.36 $0.00 $1,446.98 $258,528.61
145 $258,528.61 $1,167.36 $0.00 $1,461.76 $261,157.73
146 $261,157.73 $1,167.36 $0.00 $1,476.62 $263,801.71
147 $263,801.71 $1,167.36 $0.00 $1,491.57 $266,460.64
148 $266,460.64 $1,167.36 $0.00 $1,506.61 $269,134.61
149 $269,134.61 $1,167.36 $0.00 $1,521.73 $271,823.70
150 $271,823.70 $1,167.36 $0.00 $1,536.93 $274,527.99
151 $274,527.99 $1,167.36 $0.00 $1,552.22 $277,247.57
152 $277,247.57 $1,167.36 $0.00 $1,567.60 $279,982.53
153 $279,982.53 $1,167.36 $0.00 $1,583.06 $282,732.95
154 $282,732.95 $1,167.36 $0.00 $1,598.61 $285,498.92
155 $285,498.92 $1,167.36 $0.00 $1,614.25 $288,280.53
156 $288,280.53 $1,167.36 $0.00 $1,629.98 $291,077.87
157 $291,077.87 $1,167.36 $0.00 $1,645.80 $293,891.03
158 $293,891.03 $1,167.36 $0.00 $1,661.70 $296,720.09
159 $296,720.09 $1,167.36 $0.00 $1,677.70 $299,565.15
160 $299,565.15 $1,167.36 $0.00 $1,693.78 $302,426.29
161 $302,426.29 $1,167.36 $0.00 $1,709.96 $305,303.61
162 $305,303.61 $1,167.36 $0.00 $1,726.23 $308,197.20
163 $308,197.20 $1,167.36 $0.00 $1,742.59 $311,107.15
164 $311,107.15 $1,167.36 $0.00 $1,759.05 $314,033.56
165 $314,033.56 $1,167.36 $0.00 $1,775.59 $316,976.51
166 $316,976.51 $1,167.36 $0.00 $1,792.23 $319,936.10
167 $319,936.10 $1,167.36 $0.00 $1,808.97 $322,912.43
168 $322,912.43 $1,167.36 $0.00 $1,825.79 $325,905.58
169 $325,905.58 $1,167.36 $0.00 $1,842.72 $328,915.66
170 $328,915.66 $1,167.36 $0.00 $1,859.74 $331,942.76
171 $331,942.76 $1,167.36 $0.00 $1,876.85 $334,986.97
172 $334,986.97 $1,167.36 $0.00 $1,894.07 $338,048.40
173 $338,048.40 $1,167.36 $0.00 $1,911.37 $341,127.13
174 $341,127.13 $1,167.36 $0.00 $1,928.78 $344,223.27
175 $344,223.27 $1,167.36 $0.00 $1,946.29 $347,336.92
176 $347,336.92 $1,167.36 $0.00 $1,963.89 $350,468.17
177 $350,468.17 $1,167.36 $0.00 $1,981.60 $353,617.13
178 $353,617.13 $1,167.36 $0.00 $1,999.40 $356,783.89
179 $356,783.89 $1,167.36 $0.00 $2,017.31 $359,968.56
180 $359,968.56 $1,167.36 $0.00 $2,035.31 $363,171.23
181 $363,171.23 $1,167.36 $0.00 $2,053.42 $366,392.01
182 $366,392.01 $1,167.36 $0.00 $2,071.63 $369,631.00
183 $369,631.00 $1,167.36 $0.00 $2,089.95 $372,888.31
184 $372,888.31 $1,167.36 $0.00 $2,108.36 $376,164.03
185 $376,164.03 $1,167.36 $0.00 $2,126.89 $379,458.28
186 $379,458.28 $1,167.36 $0.00 $2,145.51 $382,771.15
187 $382,771.15 $1,167.36 $0.00 $2,164.24 $386,102.75
188 $386,102.75 $1,167.36 $0.00 $2,183.08 $389,453.19
189 $389,453.19 $1,167.36 $0.00 $2,202.02 $392,822.57
190 $392,822.57 $1,167.36 $0.00 $2,221.08 $396,211.01
191 $396,211.01 $1,167.36 $0.00 $2,240.23 $399,618.60
192 $399,618.60 $1,167.36 $0.00 $2,259.50 $403,045.46
193 $403,045.46 $1,167.36 $0.00 $2,278.88 $406,491.70
194 $406,491.70 $1,167.36 $0.00 $2,298.36 $409,957.42
195 $409,957.42 $1,167.36 $0.00 $2,317.96 $413,442.74
196 $413,442.74 $1,167.36 $0.00 $2,337.67 $416,947.77
197 $416,947.77 $1,167.36 $0.00 $2,357.48 $420,472.61
198 $420,472.61 $1,167.36 $0.00 $2,377.41 $424,017.38
199 $424,017.38 $1,167.36 $0.00 $2,397.46 $427,582.20
200 $427,582.20 $1,167.36 $0.00 $2,417.61 $431,167.17
201 $431,167.17 $1,167.36 $0.00 $2,437.88 $434,772.41
202 $434,772.41 $1,167.36 $0.00 $2,458.27 $438,398.04
203 $438,398.04 $1,167.36 $0.00 $2,478.77 $442,044.17
204 $442,044.17 $1,167.36 $0.00 $2,499.38 $445,710.91
205 $445,710.91 $1,167.36 $0.00 $2,520.11 $449,398.38
206 $449,398.38 $1,167.36 $0.00 $2,540.96 $453,106.70
207 $453,106.70 $1,167.36 $0.00 $2,561.93 $456,835.99
208 $456,835.99 $1,167.36 $0.00 $2,583.02 $460,586.37
209 $460,586.37 $1,167.36 $0.00 $2,604.22 $464,357.95
210 $464,357.95 $1,167.36 $0.00 $2,625.55 $468,150.86
211 $468,150.86 $1,167.36 $0.00 $2,646.99 $471,965.21
212 $471,965.21 $1,167.36 $0.00 $2,668.56 $475,801.13
213 $475,801.13 $1,167.36 $0.00 $2,690.25 $479,658.74
214 $479,658.74 $1,167.36 $0.00 $2,712.06 $483,538.16
215 $483,538.16 $1,167.36 $0.00 $2,734.00 $487,439.52
216 $487,439.52 $1,167.36 $0.00 $2,756.05 $491,362.93
217 $491,362.93 $1,167.36 $133,071.31 $2,778.24 $362,237.22
218 $362,237.22 $1,167.36 $0.00 $2,048.14 $365,452.72
219 $365,452.72 $1,167.36 $0.00 $2,066.32 $368,686.40
220 $368,686.40 $1,167.36 $0.00 $2,084.61 $371,938.37
221 $371,938.37 $1,167.36 $0.00 $2,102.99 $375,208.72
222 $375,208.72 $1,167.36 $0.00 $2,121.48 $378,497.56
223 $378,497.56 $1,167.36 $0.00 $2,140.08 $381,805.00
224 $381,805.00 $1,167.36 $0.00 $2,158.78 $385,131.14
225 $385,131.14 $1,167.36 $0.00 $2,177.59 $388,476.09
226 $388,476.09 $1,167.36 $0.00 $2,196.50 $391,839.95
227 $391,839.95 $1,167.36 $0.00 $2,215.52 $395,222.83
228 $395,222.83 $1,167.36 $0.00 $2,234.65 $398,624.84
229 $398,624.84 $1,167.36 $142,386.31 $2,253.88 $259,659.77
230 $259,659.77 $1,167.36 $0.00 $1,468.15 $262,295.28
231 $262,295.28 $1,167.36 $0.00 $1,483.06 $264,945.70
232 $264,945.70 $1,167.36 $0.00 $1,498.04 $267,611.10
233 $267,611.10 $1,167.36 $0.00 $1,513.11 $270,291.57
234 $270,291.57 $1,167.36 $0.00 $1,528.27 $272,987.20
235 $272,987.20 $1,167.36 $0.00 $1,543.51 $275,698.07
236 $275,698.07 $1,167.36 $0.00 $1,558.84 $278,424.27
237 $278,424.27 $1,167.36 $0.00 $1,574.25 $281,165.88
238 $281,165.88 $1,167.36 $0.00 $1,589.75 $283,922.99
239 $283,922.99 $1,167.36 $0.00 $1,605.34 $286,695.69
240 $286,695.69 $1,167.36 $0.00 $1,621.02 $289,484.07
241 $289,484.07 $1,167.36 $152,353.35 $1,636.79 $139,934.87
242 $139,934.87 $1,167.36 $0.00 $791.21 $141,893.44
243 $141,893.44 $1,167.36 $0.00 $802.29 $143,863.09
244 $143,863.09 $1,167.36 $0.00 $813.42 $145,843.87
245 $145,843.87 $1,167.36 $0.00 $824.62 $147,835.85
246 $147,835.85 $1,167.36 $0.00 $835.89 $149,839.10
247 $149,839.10 $1,167.36 $0.00 $847.21 $151,853.67
248 $151,853.67 $1,167.36 $0.00 $858.60 $153,879.63
249 $153,879.63 $1,167.36 $0.00 $870.06 $155,917.05
250 $155,917.05 $1,167.36 $0.00 $881.58 $157,965.99
251 $157,965.99 $1,167.36 $0.00 $893.16 $160,026.51
252 $160,026.51 $1,167.36 $0.00 $904.81 $162,098.68
253 $162,098.68 $0.00 $163,018.08 $916.53 -$2.87