Savings Plan and Future Cost Estimation for Florida Gateway College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2041$29,027
Monthly savings required$129

How much will it cost to send your child to Florida Gateway College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $58,053.31 for students enrolling in 2041 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $129.00 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$11,767.00
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 $129.00 $0.00 $0.00 $129.00
2 $129.00 $129.00 $0.00 $0.73 $258.73
3 $258.73 $129.00 $0.00 $1.46 $389.19
4 $389.19 $129.00 $0.00 $2.20 $520.39
5 $520.39 $129.00 $0.00 $2.94 $652.33
6 $652.33 $129.00 $0.00 $3.69 $785.02
7 $785.02 $129.00 $0.00 $4.44 $918.46
8 $918.46 $129.00 $0.00 $5.19 $1,052.65
9 $1,052.65 $129.00 $0.00 $5.95 $1,187.60
10 $1,187.60 $129.00 $0.00 $6.71 $1,323.31
11 $1,323.31 $129.00 $0.00 $7.48 $1,459.79
12 $1,459.79 $129.00 $0.00 $8.25 $1,597.04
13 $1,597.04 $129.00 $0.00 $9.03 $1,735.07
14 $1,735.07 $129.00 $0.00 $9.81 $1,873.88
15 $1,873.88 $129.00 $0.00 $10.60 $2,013.48
16 $2,013.48 $129.00 $0.00 $11.38 $2,153.86
17 $2,153.86 $129.00 $0.00 $12.18 $2,295.04
18 $2,295.04 $129.00 $0.00 $12.98 $2,437.02
19 $2,437.02 $129.00 $0.00 $13.78 $2,579.80
20 $2,579.80 $129.00 $0.00 $14.59 $2,723.39
21 $2,723.39 $129.00 $0.00 $15.40 $2,867.79
22 $2,867.79 $129.00 $0.00 $16.21 $3,013.00
23 $3,013.00 $129.00 $0.00 $17.04 $3,159.04
24 $3,159.04 $129.00 $0.00 $17.86 $3,305.90
25 $3,305.90 $129.00 $0.00 $18.69 $3,453.59
26 $3,453.59 $129.00 $0.00 $19.53 $3,602.12
27 $3,602.12 $129.00 $0.00 $20.37 $3,751.49
28 $3,751.49 $129.00 $0.00 $21.21 $3,901.70
29 $3,901.70 $129.00 $0.00 $22.06 $4,052.76
30 $4,052.76 $129.00 $0.00 $22.91 $4,204.67
31 $4,204.67 $129.00 $0.00 $23.77 $4,357.44
32 $4,357.44 $129.00 $0.00 $24.64 $4,511.08
33 $4,511.08 $129.00 $0.00 $25.51 $4,665.59
34 $4,665.59 $129.00 $0.00 $26.38 $4,820.97
35 $4,820.97 $129.00 $0.00 $27.26 $4,977.23
36 $4,977.23 $129.00 $0.00 $28.14 $5,134.37
37 $5,134.37 $129.00 $0.00 $29.03 $5,292.40
38 $5,292.40 $129.00 $0.00 $29.92 $5,451.32
39 $5,451.32 $129.00 $0.00 $30.82 $5,611.14
40 $5,611.14 $129.00 $0.00 $31.73 $5,771.87
41 $5,771.87 $129.00 $0.00 $32.63 $5,933.50
42 $5,933.50 $129.00 $0.00 $33.55 $6,096.05
43 $6,096.05 $129.00 $0.00 $34.47 $6,259.52
44 $6,259.52 $129.00 $0.00 $35.39 $6,423.91
45 $6,423.91 $129.00 $0.00 $36.32 $6,589.23
46 $6,589.23 $129.00 $0.00 $37.26 $6,755.49
47 $6,755.49 $129.00 $0.00 $38.20 $6,922.69
48 $6,922.69 $129.00 $0.00 $39.14 $7,090.83
49 $7,090.83 $129.00 $0.00 $40.09 $7,259.92
50 $7,259.92 $129.00 $0.00 $41.05 $7,429.97
51 $7,429.97 $129.00 $0.00 $42.01 $7,600.98
52 $7,600.98 $129.00 $0.00 $42.98 $7,772.96
53 $7,772.96 $129.00 $0.00 $43.95 $7,945.91
54 $7,945.91 $129.00 $0.00 $44.93 $8,119.84
55 $8,119.84 $129.00 $0.00 $45.91 $8,294.75
56 $8,294.75 $129.00 $0.00 $46.90 $8,470.65
57 $8,470.65 $129.00 $0.00 $47.89 $8,647.54
58 $8,647.54 $129.00 $0.00 $48.89 $8,825.43
59 $8,825.43 $129.00 $0.00 $49.90 $9,004.33
60 $9,004.33 $129.00 $0.00 $50.91 $9,184.24
61 $9,184.24 $129.00 $0.00 $51.93 $9,365.17
62 $9,365.17 $129.00 $0.00 $52.95 $9,547.12
63 $9,547.12 $129.00 $0.00 $53.98 $9,730.10
64 $9,730.10 $129.00 $0.00 $55.02 $9,914.12
65 $9,914.12 $129.00 $0.00 $56.06 $10,099.18
66 $10,099.18 $129.00 $0.00 $57.10 $10,285.28
67 $10,285.28 $129.00 $0.00 $58.15 $10,472.43
68 $10,472.43 $129.00 $0.00 $59.21 $10,660.64
69 $10,660.64 $129.00 $0.00 $60.28 $10,849.92
70 $10,849.92 $129.00 $0.00 $61.35 $11,040.27
71 $11,040.27 $129.00 $0.00 $62.42 $11,231.69
72 $11,231.69 $129.00 $0.00 $63.51 $11,424.20
73 $11,424.20 $129.00 $0.00 $64.59 $11,617.79
74 $11,617.79 $129.00 $0.00 $65.69 $11,812.48
75 $11,812.48 $129.00 $0.00 $66.79 $12,008.27
76 $12,008.27 $129.00 $0.00 $67.90 $12,205.17
77 $12,205.17 $129.00 $0.00 $69.01 $12,403.18
78 $12,403.18 $129.00 $0.00 $70.13 $12,602.31
79 $12,602.31 $129.00 $0.00 $71.26 $12,802.57
80 $12,802.57 $129.00 $0.00 $72.39 $13,003.96
81 $13,003.96 $129.00 $0.00 $73.53 $13,206.49
82 $13,206.49 $129.00 $0.00 $74.67 $13,410.16
83 $13,410.16 $129.00 $0.00 $75.82 $13,614.98
84 $13,614.98 $129.00 $0.00 $76.98 $13,820.96
85 $13,820.96 $129.00 $0.00 $78.15 $14,028.11
86 $14,028.11 $129.00 $0.00 $79.32 $14,236.43
87 $14,236.43 $129.00 $0.00 $80.49 $14,445.92
88 $14,445.92 $129.00 $0.00 $81.68 $14,656.60
89 $14,656.60 $129.00 $0.00 $82.87 $14,868.47
90 $14,868.47 $129.00 $0.00 $84.07 $15,081.54
91 $15,081.54 $129.00 $0.00 $85.27 $15,295.81
92 $15,295.81 $129.00 $0.00 $86.48 $15,511.29
93 $15,511.29 $129.00 $0.00 $87.70 $15,727.99
94 $15,727.99 $129.00 $0.00 $88.93 $15,945.92
95 $15,945.92 $129.00 $0.00 $90.16 $16,165.08
96 $16,165.08 $129.00 $0.00 $91.40 $16,385.48
97 $16,385.48 $129.00 $0.00 $92.65 $16,607.13
98 $16,607.13 $129.00 $0.00 $93.90 $16,830.03
99 $16,830.03 $129.00 $0.00 $95.16 $17,054.19
100 $17,054.19 $129.00 $0.00 $96.43 $17,279.62
101 $17,279.62 $129.00 $0.00 $97.70 $17,506.32
102 $17,506.32 $129.00 $0.00 $98.98 $17,734.30
103 $17,734.30 $129.00 $0.00 $100.27 $17,963.57
104 $17,963.57 $129.00 $0.00 $101.57 $18,194.14
105 $18,194.14 $129.00 $0.00 $102.87 $18,426.01
106 $18,426.01 $129.00 $0.00 $104.18 $18,659.19
107 $18,659.19 $129.00 $0.00 $105.50 $18,893.69
108 $18,893.69 $129.00 $0.00 $106.83 $19,129.52
109 $19,129.52 $129.00 $0.00 $108.16 $19,366.68
110 $19,366.68 $129.00 $0.00 $109.50 $19,605.18
111 $19,605.18 $129.00 $0.00 $110.85 $19,845.03
112 $19,845.03 $129.00 $0.00 $112.21 $20,086.24
113 $20,086.24 $129.00 $0.00 $113.57 $20,328.81
114 $20,328.81 $129.00 $0.00 $114.94 $20,572.75
115 $20,572.75 $129.00 $0.00 $116.32 $20,818.07
116 $20,818.07 $129.00 $0.00 $117.71 $21,064.78
117 $21,064.78 $129.00 $0.00 $119.10 $21,312.88
118 $21,312.88 $129.00 $0.00 $120.51 $21,562.39
119 $21,562.39 $129.00 $0.00 $121.92 $21,813.31
120 $21,813.31 $129.00 $0.00 $123.34 $22,065.65
121 $22,065.65 $129.00 $0.00 $124.76 $22,319.41
122 $22,319.41 $129.00 $0.00 $126.20 $22,574.61
123 $22,574.61 $129.00 $0.00 $127.64 $22,831.25
124 $22,831.25 $129.00 $0.00 $129.09 $23,089.34
125 $23,089.34 $129.00 $0.00 $130.55 $23,348.89
126 $23,348.89 $129.00 $0.00 $132.02 $23,609.91
127 $23,609.91 $129.00 $0.00 $133.49 $23,872.40
128 $23,872.40 $129.00 $0.00 $134.98 $24,136.38
129 $24,136.38 $129.00 $0.00 $136.47 $24,401.85
130 $24,401.85 $129.00 $0.00 $137.97 $24,668.82
131 $24,668.82 $129.00 $0.00 $139.48 $24,937.30
132 $24,937.30 $129.00 $0.00 $141.00 $25,207.30
133 $25,207.30 $129.00 $0.00 $142.53 $25,478.83
134 $25,478.83 $129.00 $0.00 $144.06 $25,751.89
135 $25,751.89 $129.00 $0.00 $145.60 $26,026.49
136 $26,026.49 $129.00 $0.00 $147.16 $26,302.65
137 $26,302.65 $129.00 $0.00 $148.72 $26,580.37
138 $26,580.37 $129.00 $0.00 $150.29 $26,859.66
139 $26,859.66 $129.00 $0.00 $151.87 $27,140.53
140 $27,140.53 $129.00 $0.00 $153.46 $27,422.99
141 $27,422.99 $129.00 $0.00 $155.05 $27,707.04
142 $27,707.04 $129.00 $0.00 $156.66 $27,992.70
143 $27,992.70 $129.00 $0.00 $158.27 $28,279.97
144 $28,279.97 $129.00 $0.00 $159.90 $28,568.87
145 $28,568.87 $129.00 $0.00 $161.53 $28,859.40
146 $28,859.40 $129.00 $0.00 $163.18 $29,151.58
147 $29,151.58 $129.00 $0.00 $164.83 $29,445.41
148 $29,445.41 $129.00 $0.00 $166.49 $29,740.90
149 $29,740.90 $129.00 $0.00 $168.16 $30,038.06
150 $30,038.06 $129.00 $0.00 $169.84 $30,336.90
151 $30,336.90 $129.00 $0.00 $171.53 $30,637.43
152 $30,637.43 $129.00 $0.00 $173.23 $30,939.66
153 $30,939.66 $129.00 $0.00 $174.94 $31,243.60
154 $31,243.60 $129.00 $0.00 $176.66 $31,549.26
155 $31,549.26 $129.00 $0.00 $178.38 $31,856.64
156 $31,856.64 $129.00 $0.00 $180.12 $32,165.76
157 $32,165.76 $129.00 $0.00 $181.87 $32,476.63
158 $32,476.63 $129.00 $0.00 $183.63 $32,789.26
159 $32,789.26 $129.00 $0.00 $185.40 $33,103.66
160 $33,103.66 $129.00 $0.00 $187.17 $33,419.83
161 $33,419.83 $129.00 $0.00 $188.96 $33,737.79
162 $33,737.79 $129.00 $0.00 $190.76 $34,057.55
163 $34,057.55 $129.00 $0.00 $192.57 $34,379.12
164 $34,379.12 $129.00 $0.00 $194.38 $34,702.50
165 $34,702.50 $129.00 $0.00 $196.21 $35,027.71
166 $35,027.71 $129.00 $0.00 $198.05 $35,354.76
167 $35,354.76 $129.00 $0.00 $199.90 $35,683.66
168 $35,683.66 $129.00 $0.00 $201.76 $36,014.42
169 $36,014.42 $129.00 $0.00 $203.63 $36,347.05
170 $36,347.05 $129.00 $0.00 $205.51 $36,681.56
171 $36,681.56 $129.00 $0.00 $207.40 $37,017.96
172 $37,017.96 $129.00 $0.00 $209.30 $37,356.26
173 $37,356.26 $129.00 $0.00 $211.22 $37,696.48
174 $37,696.48 $129.00 $0.00 $213.14 $38,038.62
175 $38,038.62 $129.00 $0.00 $215.08 $38,382.70
176 $38,382.70 $129.00 $0.00 $217.02 $38,728.72
177 $38,728.72 $129.00 $0.00 $218.98 $39,076.70
178 $39,076.70 $129.00 $0.00 $220.95 $39,426.65
179 $39,426.65 $129.00 $0.00 $222.92 $39,778.57
180 $39,778.57 $129.00 $0.00 $224.91 $40,132.48
181 $40,132.48 $129.00 $0.00 $226.91 $40,488.39
182 $40,488.39 $129.00 $0.00 $228.93 $40,846.32
183 $40,846.32 $129.00 $0.00 $230.95 $41,206.27
184 $41,206.27 $129.00 $0.00 $232.99 $41,568.26
185 $41,568.26 $129.00 $0.00 $235.03 $41,932.29
186 $41,932.29 $129.00 $0.00 $237.09 $42,298.38
187 $42,298.38 $129.00 $0.00 $239.16 $42,666.54
188 $42,666.54 $129.00 $0.00 $241.24 $43,036.78
189 $43,036.78 $129.00 $0.00 $243.34 $43,409.12
190 $43,409.12 $129.00 $0.00 $245.44 $43,783.56
191 $43,783.56 $129.00 $0.00 $247.56 $44,160.12
192 $44,160.12 $129.00 $0.00 $249.69 $44,538.81
193 $44,538.81 $129.00 $0.00 $251.83 $44,919.64
194 $44,919.64 $129.00 $0.00 $253.98 $45,302.62
195 $45,302.62 $129.00 $0.00 $256.15 $45,687.77
196 $45,687.77 $129.00 $0.00 $258.33 $46,075.10
197 $46,075.10 $129.00 $0.00 $260.52 $46,464.62
198 $46,464.62 $129.00 $0.00 $262.72 $46,856.34
199 $46,856.34 $129.00 $0.00 $264.93 $47,250.27
200 $47,250.27 $129.00 $0.00 $267.16 $47,646.43
201 $47,646.43 $129.00 $0.00 $269.40 $48,044.83
202 $48,044.83 $129.00 $0.00 $271.65 $48,445.48
203 $48,445.48 $129.00 $0.00 $273.92 $48,848.40
204 $48,848.40 $129.00 $0.00 $276.20 $49,253.60
205 $49,253.60 $129.00 $0.00 $278.49 $49,661.09
206 $49,661.09 $129.00 $0.00 $280.79 $50,070.88
207 $50,070.88 $129.00 $0.00 $283.11 $50,482.99
208 $50,482.99 $129.00 $0.00 $285.44 $50,897.43
209 $50,897.43 $129.00 $0.00 $287.78 $51,314.21
210 $51,314.21 $129.00 $0.00 $290.14 $51,733.35
211 $51,733.35 $129.00 $0.00 $292.51 $52,154.86
212 $52,154.86 $129.00 $0.00 $294.89 $52,578.75
213 $52,578.75 $129.00 $0.00 $297.29 $53,005.04
214 $53,005.04 $129.00 $0.00 $299.70 $53,433.74
215 $53,433.74 $129.00 $0.00 $302.12 $53,864.86
216 $53,864.86 $129.00 $0.00 $304.56 $54,298.42
217 $54,298.42 $129.00 $28,318.69 $307.01 $26,415.74
218 $26,415.74 $129.00 $0.00 $149.36 $26,694.10
219 $26,694.10 $129.00 $0.00 $150.93 $26,974.03
220 $26,974.03 $129.00 $0.00 $152.52 $27,255.55
221 $27,255.55 $129.00 $0.00 $154.11 $27,538.66
222 $27,538.66 $129.00 $0.00 $155.71 $27,823.37
223 $27,823.37 $129.00 $0.00 $157.32 $28,109.69
224 $28,109.69 $129.00 $0.00 $158.94 $28,397.63
225 $28,397.63 $129.00 $0.00 $160.56 $28,687.19
226 $28,687.19 $129.00 $0.00 $162.20 $28,978.39
227 $28,978.39 $129.00 $0.00 $163.85 $29,271.24
228 $29,271.24 $129.00 $0.00 $165.50 $29,565.74
229 $29,565.74 $0.00 $29,734.62 $167.17 ($1.71)