Savings Plan and Future Cost Estimation for Fortis 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$77,090
Monthly savings required$342

How much will it cost to send your child to Fortis College Miami in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $154,180.98 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $342.50 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$22,037.00
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 $342.50 $0.00 $0.00 $342.50
2 $342.50 $342.50 $0.00 $1.94 $686.94
3 $686.94 $342.50 $0.00 $3.88 $1,033.32
4 $1,033.32 $342.50 $0.00 $5.84 $1,381.66
5 $1,381.66 $342.50 $0.00 $7.81 $1,731.97
6 $1,731.97 $342.50 $0.00 $9.79 $2,084.26
7 $2,084.26 $342.50 $0.00 $11.78 $2,438.54
8 $2,438.54 $342.50 $0.00 $13.79 $2,794.83
9 $2,794.83 $342.50 $0.00 $15.80 $3,153.13
10 $3,153.13 $342.50 $0.00 $17.83 $3,513.46
11 $3,513.46 $342.50 $0.00 $19.87 $3,875.83
12 $3,875.83 $342.50 $0.00 $21.91 $4,240.24
13 $4,240.24 $342.50 $0.00 $23.97 $4,606.71
14 $4,606.71 $342.50 $0.00 $26.05 $4,975.26
15 $4,975.26 $342.50 $0.00 $28.13 $5,345.89
16 $5,345.89 $342.50 $0.00 $30.23 $5,718.62
17 $5,718.62 $342.50 $0.00 $32.33 $6,093.45
18 $6,093.45 $342.50 $0.00 $34.45 $6,470.40
19 $6,470.40 $342.50 $0.00 $36.58 $6,849.48
20 $6,849.48 $342.50 $0.00 $38.73 $7,230.71
21 $7,230.71 $342.50 $0.00 $40.88 $7,614.09
22 $7,614.09 $342.50 $0.00 $43.05 $7,999.64
23 $7,999.64 $342.50 $0.00 $45.23 $8,387.37
24 $8,387.37 $342.50 $0.00 $47.42 $8,777.29
25 $8,777.29 $342.50 $0.00 $49.63 $9,169.42
26 $9,169.42 $342.50 $0.00 $51.85 $9,563.77
27 $9,563.77 $342.50 $0.00 $54.07 $9,960.34
28 $9,960.34 $342.50 $0.00 $56.32 $10,359.16
29 $10,359.16 $342.50 $0.00 $58.57 $10,760.23
30 $10,760.23 $342.50 $0.00 $60.84 $11,163.57
31 $11,163.57 $342.50 $0.00 $63.12 $11,569.19
32 $11,569.19 $342.50 $0.00 $65.41 $11,977.10
33 $11,977.10 $342.50 $0.00 $67.72 $12,387.32
34 $12,387.32 $342.50 $0.00 $70.04 $12,799.86
35 $12,799.86 $342.50 $0.00 $72.37 $13,214.73
36 $13,214.73 $342.50 $0.00 $74.72 $13,631.95
37 $13,631.95 $342.50 $0.00 $77.08 $14,051.53
38 $14,051.53 $342.50 $0.00 $79.45 $14,473.48
39 $14,473.48 $342.50 $0.00 $81.84 $14,897.82
40 $14,897.82 $342.50 $0.00 $84.23 $15,324.55
41 $15,324.55 $342.50 $0.00 $86.65 $15,753.70
42 $15,753.70 $342.50 $0.00 $89.07 $16,185.27
43 $16,185.27 $342.50 $0.00 $91.51 $16,619.28
44 $16,619.28 $342.50 $0.00 $93.97 $17,055.75
45 $17,055.75 $342.50 $0.00 $96.44 $17,494.69
46 $17,494.69 $342.50 $0.00 $98.92 $17,936.11
47 $17,936.11 $342.50 $0.00 $101.41 $18,380.02
48 $18,380.02 $342.50 $0.00 $103.92 $18,826.44
49 $18,826.44 $342.50 $0.00 $106.45 $19,275.39
50 $19,275.39 $342.50 $0.00 $108.99 $19,726.88
51 $19,726.88 $342.50 $0.00 $111.54 $20,180.92
52 $20,180.92 $342.50 $0.00 $114.11 $20,637.53
53 $20,637.53 $342.50 $0.00 $116.69 $21,096.72
54 $21,096.72 $342.50 $0.00 $119.28 $21,558.50
55 $21,558.50 $342.50 $0.00 $121.89 $22,022.89
56 $22,022.89 $342.50 $0.00 $124.52 $22,489.91
57 $22,489.91 $342.50 $0.00 $127.16 $22,959.57
58 $22,959.57 $342.50 $0.00 $129.82 $23,431.89
59 $23,431.89 $342.50 $0.00 $132.49 $23,906.88
60 $23,906.88 $342.50 $0.00 $135.17 $24,384.55
61 $24,384.55 $342.50 $0.00 $137.87 $24,864.92
62 $24,864.92 $342.50 $0.00 $140.59 $25,348.01
63 $25,348.01 $342.50 $0.00 $143.32 $25,833.83
64 $25,833.83 $342.50 $0.00 $146.07 $26,322.40
65 $26,322.40 $342.50 $0.00 $148.83 $26,813.73
66 $26,813.73 $342.50 $0.00 $151.61 $27,307.84
67 $27,307.84 $342.50 $0.00 $154.40 $27,804.74
68 $27,804.74 $342.50 $0.00 $157.21 $28,304.45
69 $28,304.45 $342.50 $0.00 $160.04 $28,806.99
70 $28,806.99 $342.50 $0.00 $162.88 $29,312.37
71 $29,312.37 $342.50 $0.00 $165.74 $29,820.61
72 $29,820.61 $342.50 $0.00 $168.61 $30,331.72
73 $30,331.72 $342.50 $0.00 $171.50 $30,845.72
74 $30,845.72 $342.50 $0.00 $174.41 $31,362.63
75 $31,362.63 $342.50 $0.00 $177.33 $31,882.46
76 $31,882.46 $342.50 $0.00 $180.27 $32,405.23
77 $32,405.23 $342.50 $0.00 $183.22 $32,930.95
78 $32,930.95 $342.50 $0.00 $186.20 $33,459.65
79 $33,459.65 $342.50 $0.00 $189.19 $33,991.34
80 $33,991.34 $342.50 $0.00 $192.19 $34,526.03
81 $34,526.03 $342.50 $0.00 $195.22 $35,063.75
82 $35,063.75 $342.50 $0.00 $198.26 $35,604.51
83 $35,604.51 $342.50 $0.00 $201.31 $36,148.32
84 $36,148.32 $342.50 $0.00 $204.39 $36,695.21
85 $36,695.21 $342.50 $0.00 $207.48 $37,245.19
86 $37,245.19 $342.50 $0.00 $210.59 $37,798.28
87 $37,798.28 $342.50 $0.00 $213.72 $38,354.50
88 $38,354.50 $342.50 $0.00 $216.86 $38,913.86
89 $38,913.86 $342.50 $0.00 $220.02 $39,476.38
90 $39,476.38 $342.50 $0.00 $223.21 $40,042.09
91 $40,042.09 $342.50 $0.00 $226.40 $40,610.99
92 $40,610.99 $342.50 $0.00 $229.62 $41,183.11
93 $41,183.11 $342.50 $0.00 $232.86 $41,758.47
94 $41,758.47 $342.50 $0.00 $236.11 $42,337.08
95 $42,337.08 $342.50 $0.00 $239.38 $42,918.96
96 $42,918.96 $342.50 $0.00 $242.67 $43,504.13
97 $43,504.13 $342.50 $0.00 $245.98 $44,092.61
98 $44,092.61 $342.50 $0.00 $249.31 $44,684.42
99 $44,684.42 $342.50 $0.00 $252.65 $45,279.57
100 $45,279.57 $342.50 $0.00 $256.02 $45,878.09
101 $45,878.09 $342.50 $0.00 $259.40 $46,479.99
102 $46,479.99 $342.50 $0.00 $262.80 $47,085.29
103 $47,085.29 $342.50 $0.00 $266.23 $47,694.02
104 $47,694.02 $342.50 $0.00 $269.67 $48,306.19
105 $48,306.19 $342.50 $0.00 $273.13 $48,921.82
106 $48,921.82 $342.50 $0.00 $276.61 $49,540.93
107 $49,540.93 $342.50 $0.00 $280.11 $50,163.54
108 $50,163.54 $342.50 $0.00 $283.63 $50,789.67
109 $50,789.67 $342.50 $0.00 $287.17 $51,419.34
110 $51,419.34 $342.50 $0.00 $290.73 $52,052.57
111 $52,052.57 $342.50 $0.00 $294.31 $52,689.38
112 $52,689.38 $342.50 $0.00 $297.91 $53,329.79
113 $53,329.79 $342.50 $0.00 $301.53 $53,973.82
114 $53,973.82 $342.50 $0.00 $305.18 $54,621.50
115 $54,621.50 $342.50 $0.00 $308.84 $55,272.84
116 $55,272.84 $342.50 $0.00 $312.52 $55,927.86
117 $55,927.86 $342.50 $0.00 $316.22 $56,586.58
118 $56,586.58 $342.50 $0.00 $319.95 $57,249.03
119 $57,249.03 $342.50 $0.00 $323.69 $57,915.22
120 $57,915.22 $342.50 $0.00 $327.46 $58,585.18
121 $58,585.18 $342.50 $0.00 $331.25 $59,258.93
122 $59,258.93 $342.50 $0.00 $335.06 $59,936.49
123 $59,936.49 $342.50 $0.00 $338.89 $60,617.88
124 $60,617.88 $342.50 $0.00 $342.74 $61,303.12
125 $61,303.12 $342.50 $0.00 $346.62 $61,992.24
126 $61,992.24 $342.50 $0.00 $350.51 $62,685.25
127 $62,685.25 $342.50 $0.00 $354.43 $63,382.18
128 $63,382.18 $342.50 $0.00 $358.37 $64,083.05
129 $64,083.05 $342.50 $0.00 $362.33 $64,787.88
130 $64,787.88 $342.50 $0.00 $366.32 $65,496.70
131 $65,496.70 $342.50 $0.00 $370.33 $66,209.53
132 $66,209.53 $342.50 $0.00 $374.36 $66,926.39
133 $66,926.39 $342.50 $0.00 $378.41 $67,647.30
134 $67,647.30 $342.50 $0.00 $382.49 $68,372.29
135 $68,372.29 $342.50 $0.00 $386.59 $69,101.38
136 $69,101.38 $342.50 $0.00 $390.71 $69,834.59
137 $69,834.59 $342.50 $0.00 $394.85 $70,571.94
138 $70,571.94 $342.50 $0.00 $399.02 $71,313.46
139 $71,313.46 $342.50 $0.00 $403.22 $72,059.18
140 $72,059.18 $342.50 $0.00 $407.43 $72,809.11
141 $72,809.11 $342.50 $0.00 $411.67 $73,563.28
142 $73,563.28 $342.50 $0.00 $415.94 $74,321.72
143 $74,321.72 $342.50 $0.00 $420.23 $75,084.45
144 $75,084.45 $342.50 $0.00 $424.54 $75,851.49
145 $75,851.49 $342.50 $0.00 $428.88 $76,622.87
146 $76,622.87 $342.50 $0.00 $433.24 $77,398.61
147 $77,398.61 $342.50 $0.00 $437.62 $78,178.73
148 $78,178.73 $342.50 $0.00 $442.03 $78,963.26
149 $78,963.26 $342.50 $0.00 $446.47 $79,752.23
150 $79,752.23 $342.50 $0.00 $450.93 $80,545.66
151 $80,545.66 $342.50 $0.00 $455.42 $81,343.58
152 $81,343.58 $342.50 $0.00 $459.93 $82,146.01
153 $82,146.01 $342.50 $0.00 $464.47 $82,952.98
154 $82,952.98 $342.50 $0.00 $469.03 $83,764.51
155 $83,764.51 $342.50 $0.00 $473.62 $84,580.63
156 $84,580.63 $342.50 $0.00 $478.23 $85,401.36
157 $85,401.36 $342.50 $0.00 $482.87 $86,226.73
158 $86,226.73 $342.50 $0.00 $487.54 $87,056.77
159 $87,056.77 $342.50 $0.00 $492.23 $87,891.50
160 $87,891.50 $342.50 $0.00 $496.95 $88,730.95
161 $88,730.95 $342.50 $0.00 $501.70 $89,575.15
162 $89,575.15 $342.50 $0.00 $506.47 $90,424.12
163 $90,424.12 $342.50 $0.00 $511.27 $91,277.89
164 $91,277.89 $342.50 $0.00 $516.10 $92,136.49
165 $92,136.49 $342.50 $0.00 $520.95 $92,999.94
166 $92,999.94 $342.50 $0.00 $525.84 $93,868.28
167 $93,868.28 $342.50 $0.00 $530.74 $94,741.52
168 $94,741.52 $342.50 $0.00 $535.68 $95,619.70
169 $95,619.70 $342.50 $0.00 $540.65 $96,502.85
170 $96,502.85 $342.50 $0.00 $545.64 $97,390.99
171 $97,390.99 $342.50 $0.00 $550.66 $98,284.15
172 $98,284.15 $342.50 $0.00 $555.71 $99,182.36
173 $99,182.36 $342.50 $0.00 $560.79 $100,085.65
174 $100,085.65 $342.50 $0.00 $565.90 $100,994.05
175 $100,994.05 $342.50 $0.00 $571.04 $101,907.59
176 $101,907.59 $342.50 $0.00 $576.20 $102,826.29
177 $102,826.29 $342.50 $0.00 $581.39 $103,750.18
178 $103,750.18 $342.50 $0.00 $586.62 $104,679.30
179 $104,679.30 $342.50 $0.00 $591.87 $105,613.67
180 $105,613.67 $342.50 $0.00 $597.16 $106,553.33
181 $106,553.33 $342.50 $0.00 $602.47 $107,498.30
182 $107,498.30 $342.50 $0.00 $607.81 $108,448.61
183 $108,448.61 $342.50 $0.00 $613.18 $109,404.29
184 $109,404.29 $342.50 $0.00 $618.59 $110,365.38
185 $110,365.38 $342.50 $0.00 $624.02 $111,331.90
186 $111,331.90 $342.50 $0.00 $629.49 $112,303.89
187 $112,303.89 $342.50 $0.00 $634.98 $113,281.37
188 $113,281.37 $342.50 $0.00 $640.51 $114,264.38
189 $114,264.38 $342.50 $0.00 $646.07 $115,252.95
190 $115,252.95 $342.50 $0.00 $651.66 $116,247.11
191 $116,247.11 $342.50 $0.00 $657.28 $117,246.89
192 $117,246.89 $342.50 $0.00 $662.93 $118,252.32
193 $118,252.32 $342.50 $0.00 $668.62 $119,263.44
194 $119,263.44 $342.50 $0.00 $674.33 $120,280.27
195 $120,280.27 $342.50 $0.00 $680.08 $121,302.85
196 $121,302.85 $342.50 $0.00 $685.86 $122,331.21
197 $122,331.21 $342.50 $0.00 $691.68 $123,365.39
198 $123,365.39 $342.50 $0.00 $697.53 $124,405.42
199 $124,405.42 $342.50 $0.00 $703.41 $125,451.33
200 $125,451.33 $342.50 $0.00 $709.32 $126,503.15
201 $126,503.15 $342.50 $0.00 $715.27 $127,560.92
202 $127,560.92 $342.50 $0.00 $721.25 $128,624.67
203 $128,624.67 $342.50 $0.00 $727.26 $129,694.43
204 $129,694.43 $342.50 $0.00 $733.31 $130,770.24
205 $130,770.24 $342.50 $0.00 $739.39 $131,852.13
206 $131,852.13 $342.50 $0.00 $745.51 $132,940.14
207 $132,940.14 $342.50 $0.00 $751.66 $134,034.30
208 $134,034.30 $342.50 $0.00 $757.85 $135,134.65
209 $135,134.65 $342.50 $0.00 $764.07 $136,241.22
210 $136,241.22 $342.50 $0.00 $770.33 $137,354.05
211 $137,354.05 $342.50 $0.00 $776.62 $138,473.17
212 $138,473.17 $342.50 $0.00 $782.95 $139,598.62
213 $139,598.62 $342.50 $0.00 $789.31 $140,730.43
214 $140,730.43 $342.50 $0.00 $795.71 $141,868.64
215 $141,868.64 $342.50 $0.00 $802.15 $143,013.29
216 $143,013.29 $342.50 $0.00 $808.62 $144,164.41
217 $144,164.41 $342.50 $74,483.57 $815.13 $70,838.47
218 $70,838.47 $342.50 $0.00 $400.53 $71,581.50
219 $71,581.50 $342.50 $0.00 $404.73 $72,328.73
220 $72,328.73 $342.50 $0.00 $408.96 $73,080.19
221 $73,080.19 $342.50 $0.00 $413.21 $73,835.90
222 $73,835.90 $342.50 $0.00 $417.48 $74,595.88
223 $74,595.88 $342.50 $0.00 $421.78 $75,360.16
224 $75,360.16 $342.50 $0.00 $426.10 $76,128.76
225 $76,128.76 $342.50 $0.00 $430.44 $76,901.70
226 $76,901.70 $342.50 $0.00 $434.81 $77,679.01
227 $77,679.01 $342.50 $0.00 $439.21 $78,460.72
228 $78,460.72 $342.50 $0.00 $443.63 $79,246.85
229 $79,246.85 $0.00 $79,697.42 $448.07 -$2.50