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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$90,742
Monthly savings required$718

How much will it cost to send your child to The College of New Jersey in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $362,966.06 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $718.28 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$34,992.00
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 $718.28 $0.00 $0.00 $718.28
2 $718.28 $718.28 $0.00 $4.06 $1,440.62
3 $1,440.62 $718.28 $0.00 $8.15 $2,167.05
4 $2,167.05 $718.28 $0.00 $12.25 $2,897.58
5 $2,897.58 $718.28 $0.00 $16.38 $3,632.24
6 $3,632.24 $718.28 $0.00 $20.54 $4,371.06
7 $4,371.06 $718.28 $0.00 $24.71 $5,114.05
8 $5,114.05 $718.28 $0.00 $28.92 $5,861.25
9 $5,861.25 $718.28 $0.00 $33.14 $6,612.67
10 $6,612.67 $718.28 $0.00 $37.39 $7,368.34
11 $7,368.34 $718.28 $0.00 $41.66 $8,128.28
12 $8,128.28 $718.28 $0.00 $45.96 $8,892.52
13 $8,892.52 $718.28 $0.00 $50.28 $9,661.08
14 $9,661.08 $718.28 $0.00 $54.63 $10,433.99
15 $10,433.99 $718.28 $0.00 $59.00 $11,211.27
16 $11,211.27 $718.28 $0.00 $63.39 $11,992.94
17 $11,992.94 $718.28 $0.00 $67.81 $12,779.03
18 $12,779.03 $718.28 $0.00 $72.25 $13,569.56
19 $13,569.56 $718.28 $0.00 $76.72 $14,364.56
20 $14,364.56 $718.28 $0.00 $81.22 $15,164.06
21 $15,164.06 $718.28 $0.00 $85.74 $15,968.08
22 $15,968.08 $718.28 $0.00 $90.29 $16,776.65
23 $16,776.65 $718.28 $0.00 $94.86 $17,589.79
24 $17,589.79 $718.28 $0.00 $99.46 $18,407.53
25 $18,407.53 $718.28 $0.00 $104.08 $19,229.89
26 $19,229.89 $718.28 $0.00 $108.73 $20,056.90
27 $20,056.90 $718.28 $0.00 $113.40 $20,888.58
28 $20,888.58 $718.28 $0.00 $118.11 $21,724.97
29 $21,724.97 $718.28 $0.00 $122.84 $22,566.09
30 $22,566.09 $718.28 $0.00 $127.59 $23,411.96
31 $23,411.96 $718.28 $0.00 $132.37 $24,262.61
32 $24,262.61 $718.28 $0.00 $137.18 $25,118.07
33 $25,118.07 $718.28 $0.00 $142.02 $25,978.37
34 $25,978.37 $718.28 $0.00 $146.89 $26,843.54
35 $26,843.54 $718.28 $0.00 $151.78 $27,713.60
36 $27,713.60 $718.28 $0.00 $156.70 $28,588.58
37 $28,588.58 $718.28 $0.00 $161.64 $29,468.50
38 $29,468.50 $718.28 $0.00 $166.62 $30,353.40
39 $30,353.40 $718.28 $0.00 $171.62 $31,243.30
40 $31,243.30 $718.28 $0.00 $176.65 $32,138.23
41 $32,138.23 $718.28 $0.00 $181.71 $33,038.22
42 $33,038.22 $718.28 $0.00 $186.80 $33,943.30
43 $33,943.30 $718.28 $0.00 $191.92 $34,853.50
44 $34,853.50 $718.28 $0.00 $197.07 $35,768.85
45 $35,768.85 $718.28 $0.00 $202.24 $36,689.37
46 $36,689.37 $718.28 $0.00 $207.45 $37,615.10
47 $37,615.10 $718.28 $0.00 $212.68 $38,546.06
48 $38,546.06 $718.28 $0.00 $217.95 $39,482.29
49 $39,482.29 $718.28 $0.00 $223.24 $40,423.81
50 $40,423.81 $718.28 $0.00 $228.56 $41,370.65
51 $41,370.65 $718.28 $0.00 $233.92 $42,322.85
52 $42,322.85 $718.28 $0.00 $239.30 $43,280.43
53 $43,280.43 $718.28 $0.00 $244.71 $44,243.42
54 $44,243.42 $718.28 $0.00 $250.16 $45,211.86
55 $45,211.86 $718.28 $0.00 $255.63 $46,185.77
56 $46,185.77 $718.28 $0.00 $261.14 $47,165.19
57 $47,165.19 $718.28 $0.00 $266.68 $48,150.15
58 $48,150.15 $718.28 $0.00 $272.25 $49,140.68
59 $49,140.68 $718.28 $0.00 $277.85 $50,136.81
60 $50,136.81 $718.28 $0.00 $283.48 $51,138.57
61 $51,138.57 $718.28 $0.00 $289.14 $52,145.99
62 $52,145.99 $718.28 $0.00 $294.84 $53,159.11
63 $53,159.11 $718.28 $0.00 $300.57 $54,177.96
64 $54,177.96 $718.28 $0.00 $306.33 $55,202.57
65 $55,202.57 $718.28 $0.00 $312.12 $56,232.97
66 $56,232.97 $718.28 $0.00 $317.95 $57,269.20
67 $57,269.20 $718.28 $0.00 $323.81 $58,311.29
68 $58,311.29 $718.28 $0.00 $329.70 $59,359.27
69 $59,359.27 $718.28 $0.00 $335.63 $60,413.18
70 $60,413.18 $718.28 $0.00 $341.58 $61,473.04
71 $61,473.04 $718.28 $0.00 $347.58 $62,538.90
72 $62,538.90 $718.28 $0.00 $353.60 $63,610.78
73 $63,610.78 $718.28 $0.00 $359.66 $64,688.72
74 $64,688.72 $718.28 $0.00 $365.76 $65,772.76
75 $65,772.76 $718.28 $0.00 $371.89 $66,862.93
76 $66,862.93 $718.28 $0.00 $378.05 $67,959.26
77 $67,959.26 $718.28 $0.00 $384.25 $69,061.79
78 $69,061.79 $718.28 $0.00 $390.49 $70,170.56
79 $70,170.56 $718.28 $0.00 $396.75 $71,285.59
80 $71,285.59 $718.28 $0.00 $403.06 $72,406.93
81 $72,406.93 $718.28 $0.00 $409.40 $73,534.61
82 $73,534.61 $718.28 $0.00 $415.78 $74,668.67
83 $74,668.67 $718.28 $0.00 $422.19 $75,809.14
84 $75,809.14 $718.28 $0.00 $428.64 $76,956.06
85 $76,956.06 $718.28 $0.00 $435.12 $78,109.46
86 $78,109.46 $718.28 $0.00 $441.64 $79,269.38
87 $79,269.38 $718.28 $0.00 $448.20 $80,435.86
88 $80,435.86 $718.28 $0.00 $454.80 $81,608.94
89 $81,608.94 $718.28 $0.00 $461.43 $82,788.65
90 $82,788.65 $718.28 $0.00 $468.10 $83,975.03
91 $83,975.03 $718.28 $0.00 $474.81 $85,168.12
92 $85,168.12 $718.28 $0.00 $481.55 $86,367.95
93 $86,367.95 $718.28 $0.00 $488.34 $87,574.57
94 $87,574.57 $718.28 $0.00 $495.16 $88,788.01
95 $88,788.01 $718.28 $0.00 $502.02 $90,008.31
96 $90,008.31 $718.28 $0.00 $508.92 $91,235.51
97 $91,235.51 $718.28 $0.00 $515.86 $92,469.65
98 $92,469.65 $718.28 $0.00 $522.84 $93,710.77
99 $93,710.77 $718.28 $0.00 $529.85 $94,958.90
100 $94,958.90 $718.28 $0.00 $536.91 $96,214.09
101 $96,214.09 $718.28 $0.00 $544.01 $97,476.38
102 $97,476.38 $718.28 $0.00 $551.15 $98,745.81
103 $98,745.81 $718.28 $0.00 $558.32 $100,022.41
104 $100,022.41 $718.28 $0.00 $565.54 $101,306.23
105 $101,306.23 $718.28 $0.00 $572.80 $102,597.31
106 $102,597.31 $718.28 $0.00 $580.10 $103,895.69
107 $103,895.69 $718.28 $0.00 $587.44 $105,201.41
108 $105,201.41 $718.28 $0.00 $594.82 $106,514.51
109 $106,514.51 $718.28 $0.00 $602.25 $107,835.04
110 $107,835.04 $718.28 $0.00 $609.71 $109,163.03
111 $109,163.03 $718.28 $0.00 $617.22 $110,498.53
112 $110,498.53 $718.28 $0.00 $624.77 $111,841.58
113 $111,841.58 $718.28 $0.00 $632.37 $113,192.23
114 $113,192.23 $718.28 $0.00 $640.01 $114,550.52
115 $114,550.52 $718.28 $0.00 $647.69 $115,916.49
116 $115,916.49 $718.28 $0.00 $655.41 $117,290.18
117 $117,290.18 $718.28 $0.00 $663.18 $118,671.64
118 $118,671.64 $718.28 $0.00 $670.99 $120,060.91
119 $120,060.91 $718.28 $0.00 $678.84 $121,458.03
120 $121,458.03 $718.28 $0.00 $686.74 $122,863.05
121 $122,863.05 $718.28 $0.00 $694.69 $124,276.02
122 $124,276.02 $718.28 $0.00 $702.67 $125,696.97
123 $125,696.97 $718.28 $0.00 $710.71 $127,125.96
124 $127,125.96 $718.28 $0.00 $718.79 $128,563.03
125 $128,563.03 $718.28 $0.00 $726.91 $130,008.22
126 $130,008.22 $718.28 $0.00 $735.09 $131,461.59
127 $131,461.59 $718.28 $0.00 $743.30 $132,923.17
128 $132,923.17 $718.28 $0.00 $751.57 $134,393.02
129 $134,393.02 $718.28 $0.00 $759.88 $135,871.18
130 $135,871.18 $718.28 $0.00 $768.24 $137,357.70
131 $137,357.70 $718.28 $0.00 $776.64 $138,852.62
132 $138,852.62 $718.28 $0.00 $785.09 $140,355.99
133 $140,355.99 $718.28 $0.00 $793.59 $141,867.86
134 $141,867.86 $718.28 $0.00 $802.14 $143,388.28
135 $143,388.28 $718.28 $0.00 $810.74 $144,917.30
136 $144,917.30 $718.28 $0.00 $819.38 $146,454.96
137 $146,454.96 $718.28 $0.00 $828.08 $148,001.32
138 $148,001.32 $718.28 $0.00 $836.82 $149,556.42
139 $149,556.42 $718.28 $0.00 $845.61 $151,120.31
140 $151,120.31 $718.28 $0.00 $854.46 $152,693.05
141 $152,693.05 $718.28 $0.00 $863.35 $154,274.68
142 $154,274.68 $718.28 $0.00 $872.29 $155,865.25
143 $155,865.25 $718.28 $0.00 $881.28 $157,464.81
144 $157,464.81 $718.28 $0.00 $890.33 $159,073.42
145 $159,073.42 $718.28 $0.00 $899.42 $160,691.12
146 $160,691.12 $718.28 $0.00 $908.57 $162,317.97
147 $162,317.97 $718.28 $0.00 $917.77 $163,954.02
148 $163,954.02 $718.28 $0.00 $927.02 $165,599.32
149 $165,599.32 $718.28 $0.00 $936.32 $167,253.92
150 $167,253.92 $718.28 $0.00 $945.68 $168,917.88
151 $168,917.88 $718.28 $0.00 $955.09 $170,591.25
152 $170,591.25 $718.28 $0.00 $964.55 $172,274.08
153 $172,274.08 $718.28 $0.00 $974.06 $173,966.42
154 $173,966.42 $718.28 $0.00 $983.63 $175,668.33
155 $175,668.33 $718.28 $0.00 $993.25 $177,379.86
156 $177,379.86 $718.28 $0.00 $1,002.93 $179,101.07
157 $179,101.07 $718.28 $0.00 $1,012.66 $180,832.01
158 $180,832.01 $718.28 $0.00 $1,022.45 $182,572.74
159 $182,572.74 $718.28 $0.00 $1,032.29 $184,323.31
160 $184,323.31 $718.28 $0.00 $1,042.19 $186,083.78
161 $186,083.78 $718.28 $0.00 $1,052.14 $187,854.20
162 $187,854.20 $718.28 $0.00 $1,062.15 $189,634.63
163 $189,634.63 $718.28 $0.00 $1,072.22 $191,425.13
164 $191,425.13 $718.28 $0.00 $1,082.35 $193,225.76
165 $193,225.76 $718.28 $0.00 $1,092.53 $195,036.57
166 $195,036.57 $718.28 $0.00 $1,102.77 $196,857.62
167 $196,857.62 $718.28 $0.00 $1,113.06 $198,688.96
168 $198,688.96 $718.28 $0.00 $1,123.42 $200,530.66
169 $200,530.66 $718.28 $0.00 $1,133.83 $202,382.77
170 $202,382.77 $718.28 $0.00 $1,144.30 $204,245.35
171 $204,245.35 $718.28 $0.00 $1,154.83 $206,118.46
172 $206,118.46 $718.28 $0.00 $1,165.42 $208,002.16
173 $208,002.16 $718.28 $0.00 $1,176.07 $209,896.51
174 $209,896.51 $718.28 $0.00 $1,186.79 $211,801.58
175 $211,801.58 $718.28 $0.00 $1,197.56 $213,717.42
176 $213,717.42 $718.28 $0.00 $1,208.39 $215,644.09
177 $215,644.09 $718.28 $0.00 $1,219.28 $217,581.65
178 $217,581.65 $718.28 $0.00 $1,230.24 $219,530.17
179 $219,530.17 $718.28 $0.00 $1,241.26 $221,489.71
180 $221,489.71 $718.28 $0.00 $1,252.34 $223,460.33
181 $223,460.33 $718.28 $0.00 $1,263.48 $225,442.09
182 $225,442.09 $718.28 $0.00 $1,274.68 $227,435.05
183 $227,435.05 $718.28 $0.00 $1,285.95 $229,439.28
184 $229,439.28 $718.28 $0.00 $1,297.28 $231,454.84
185 $231,454.84 $718.28 $0.00 $1,308.68 $233,481.80
186 $233,481.80 $718.28 $0.00 $1,320.14 $235,520.22
187 $235,520.22 $718.28 $0.00 $1,331.67 $237,570.17
188 $237,570.17 $718.28 $0.00 $1,343.26 $239,631.71
189 $239,631.71 $718.28 $0.00 $1,354.91 $241,704.90
190 $241,704.90 $718.28 $0.00 $1,366.63 $243,789.81
191 $243,789.81 $718.28 $0.00 $1,378.42 $245,886.51
192 $245,886.51 $718.28 $0.00 $1,390.28 $247,995.07
193 $247,995.07 $718.28 $0.00 $1,402.20 $250,115.55
194 $250,115.55 $718.28 $0.00 $1,414.19 $252,248.02
195 $252,248.02 $718.28 $0.00 $1,426.25 $254,392.55
196 $254,392.55 $718.28 $0.00 $1,438.37 $256,549.20
197 $256,549.20 $718.28 $0.00 $1,450.57 $258,718.05
198 $258,718.05 $718.28 $0.00 $1,462.83 $260,899.16
199 $260,899.16 $718.28 $0.00 $1,475.16 $263,092.60
200 $263,092.60 $718.28 $0.00 $1,487.56 $265,298.44
201 $265,298.44 $718.28 $0.00 $1,500.04 $267,516.76
202 $267,516.76 $718.28 $0.00 $1,512.58 $269,747.62
203 $269,747.62 $718.28 $0.00 $1,525.19 $271,991.09
204 $271,991.09 $718.28 $0.00 $1,537.88 $274,247.25
205 $274,247.25 $718.28 $0.00 $1,550.63 $276,516.16
206 $276,516.16 $718.28 $0.00 $1,563.46 $278,797.90
207 $278,797.90 $718.28 $0.00 $1,576.36 $281,092.54
208 $281,092.54 $718.28 $0.00 $1,589.34 $283,400.16
209 $283,400.16 $718.28 $0.00 $1,602.39 $285,720.83
210 $285,720.83 $718.28 $0.00 $1,615.51 $288,054.62
211 $288,054.62 $718.28 $0.00 $1,628.70 $290,401.60
212 $290,401.60 $718.28 $0.00 $1,641.97 $292,761.85
213 $292,761.85 $718.28 $0.00 $1,655.32 $295,135.45
214 $295,135.45 $718.28 $0.00 $1,668.74 $297,522.47
215 $297,522.47 $718.28 $0.00 $1,682.24 $299,922.99
216 $299,922.99 $718.28 $0.00 $1,695.81 $302,337.08
217 $302,337.08 $718.28 $84,212.42 $1,709.46 $220,552.40
218 $220,552.40 $718.28 $0.00 $1,247.04 $222,517.72
219 $222,517.72 $718.28 $0.00 $1,258.15 $224,494.15
220 $224,494.15 $718.28 $0.00 $1,269.32 $226,481.75
221 $226,481.75 $718.28 $0.00 $1,280.56 $228,480.59
222 $228,480.59 $718.28 $0.00 $1,291.86 $230,490.73
223 $230,490.73 $718.28 $0.00 $1,303.23 $232,512.24
224 $232,512.24 $718.28 $0.00 $1,314.66 $234,545.18
225 $234,545.18 $718.28 $0.00 $1,326.15 $236,589.61
226 $236,589.61 $718.28 $0.00 $1,337.71 $238,645.60
227 $238,645.60 $718.28 $0.00 $1,349.34 $240,713.22
228 $240,713.22 $718.28 $0.00 $1,361.03 $242,792.53
229 $242,792.53 $718.28 $88,423.04 $1,372.78 $156,460.55
230 $156,460.55 $718.28 $0.00 $884.65 $158,063.48
231 $158,063.48 $718.28 $0.00 $893.71 $159,675.47
232 $159,675.47 $718.28 $0.00 $902.83 $161,296.58
233 $161,296.58 $718.28 $0.00 $911.99 $162,926.85
234 $162,926.85 $718.28 $0.00 $921.21 $164,566.34
235 $164,566.34 $718.28 $0.00 $930.48 $166,215.10
236 $166,215.10 $718.28 $0.00 $939.80 $167,873.18
237 $167,873.18 $718.28 $0.00 $949.18 $169,540.64
238 $169,540.64 $718.28 $0.00 $958.61 $171,217.53
239 $171,217.53 $718.28 $0.00 $968.09 $172,903.90
240 $172,903.90 $718.28 $0.00 $977.62 $174,599.80
241 $174,599.80 $718.28 $92,844.19 $987.21 $83,461.10
242 $83,461.10 $718.28 $0.00 $471.90 $84,651.28
243 $84,651.28 $718.28 $0.00 $478.63 $85,848.19
244 $85,848.19 $718.28 $0.00 $485.40 $87,051.87
245 $87,051.87 $718.28 $0.00 $492.20 $88,262.35
246 $88,262.35 $718.28 $0.00 $499.05 $89,479.68
247 $89,479.68 $718.28 $0.00 $505.93 $90,703.89
248 $90,703.89 $718.28 $0.00 $512.85 $91,935.02
249 $91,935.02 $718.28 $0.00 $519.81 $93,173.11
250 $93,173.11 $718.28 $0.00 $526.81 $94,418.20
251 $94,418.20 $718.28 $0.00 $533.85 $95,670.33
252 $95,670.33 $718.28 $0.00 $540.93 $96,929.54
253 $96,929.54 $0.00 $97,486.40 $548.05 ($8.81)