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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$89,383
Monthly savings required$708

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 $357,530.69 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $707.54 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$34,468.00
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 $707.54 $0.00 $0.00 $707.54
2 $707.54 $707.54 $0.00 $4.00 $1,419.08
3 $1,419.08 $707.54 $0.00 $8.02 $2,134.64
4 $2,134.64 $707.54 $0.00 $12.07 $2,854.25
5 $2,854.25 $707.54 $0.00 $16.14 $3,577.93
6 $3,577.93 $707.54 $0.00 $20.23 $4,305.70
7 $4,305.70 $707.54 $0.00 $24.35 $5,037.59
8 $5,037.59 $707.54 $0.00 $28.48 $5,773.61
9 $5,773.61 $707.54 $0.00 $32.64 $6,513.79
10 $6,513.79 $707.54 $0.00 $36.83 $7,258.16
11 $7,258.16 $707.54 $0.00 $41.04 $8,006.74
12 $8,006.74 $707.54 $0.00 $45.27 $8,759.55
13 $8,759.55 $707.54 $0.00 $49.53 $9,516.62
14 $9,516.62 $707.54 $0.00 $53.81 $10,277.97
15 $10,277.97 $707.54 $0.00 $58.11 $11,043.62
16 $11,043.62 $707.54 $0.00 $62.44 $11,813.60
17 $11,813.60 $707.54 $0.00 $66.80 $12,587.94
18 $12,587.94 $707.54 $0.00 $71.17 $13,366.65
19 $13,366.65 $707.54 $0.00 $75.58 $14,149.77
20 $14,149.77 $707.54 $0.00 $80.00 $14,937.31
21 $14,937.31 $707.54 $0.00 $84.46 $15,729.31
22 $15,729.31 $707.54 $0.00 $88.94 $16,525.79
23 $16,525.79 $707.54 $0.00 $93.44 $17,326.77
24 $17,326.77 $707.54 $0.00 $97.97 $18,132.28
25 $18,132.28 $707.54 $0.00 $102.52 $18,942.34
26 $18,942.34 $707.54 $0.00 $107.10 $19,756.98
27 $19,756.98 $707.54 $0.00 $111.71 $20,576.23
28 $20,576.23 $707.54 $0.00 $116.34 $21,400.11
29 $21,400.11 $707.54 $0.00 $121.00 $22,228.65
30 $22,228.65 $707.54 $0.00 $125.68 $23,061.87
31 $23,061.87 $707.54 $0.00 $130.40 $23,899.81
32 $23,899.81 $707.54 $0.00 $135.13 $24,742.48
33 $24,742.48 $707.54 $0.00 $139.90 $25,589.92
34 $25,589.92 $707.54 $0.00 $144.69 $26,442.15
35 $26,442.15 $707.54 $0.00 $149.51 $27,299.20
36 $27,299.20 $707.54 $0.00 $154.35 $28,161.09
37 $28,161.09 $707.54 $0.00 $159.23 $29,027.86
38 $29,027.86 $707.54 $0.00 $164.13 $29,899.53
39 $29,899.53 $707.54 $0.00 $169.06 $30,776.13
40 $30,776.13 $707.54 $0.00 $174.01 $31,657.68
41 $31,657.68 $707.54 $0.00 $179.00 $32,544.22
42 $32,544.22 $707.54 $0.00 $184.01 $33,435.77
43 $33,435.77 $707.54 $0.00 $189.05 $34,332.36
44 $34,332.36 $707.54 $0.00 $194.12 $35,234.02
45 $35,234.02 $707.54 $0.00 $199.22 $36,140.78
46 $36,140.78 $707.54 $0.00 $204.35 $37,052.67
47 $37,052.67 $707.54 $0.00 $209.50 $37,969.71
48 $37,969.71 $707.54 $0.00 $214.69 $38,891.94
49 $38,891.94 $707.54 $0.00 $219.90 $39,819.38
50 $39,819.38 $707.54 $0.00 $225.14 $40,752.06
51 $40,752.06 $707.54 $0.00 $230.42 $41,690.02
52 $41,690.02 $707.54 $0.00 $235.72 $42,633.28
53 $42,633.28 $707.54 $0.00 $241.05 $43,581.87
54 $43,581.87 $707.54 $0.00 $246.42 $44,535.83
55 $44,535.83 $707.54 $0.00 $251.81 $45,495.18
56 $45,495.18 $707.54 $0.00 $257.24 $46,459.96
57 $46,459.96 $707.54 $0.00 $262.69 $47,430.19
58 $47,430.19 $707.54 $0.00 $268.18 $48,405.91
59 $48,405.91 $707.54 $0.00 $273.69 $49,387.14
60 $49,387.14 $707.54 $0.00 $279.24 $50,373.92
61 $50,373.92 $707.54 $0.00 $284.82 $51,366.28
62 $51,366.28 $707.54 $0.00 $290.43 $52,364.25
63 $52,364.25 $707.54 $0.00 $296.08 $53,367.87
64 $53,367.87 $707.54 $0.00 $301.75 $54,377.16
65 $54,377.16 $707.54 $0.00 $307.46 $55,392.16
66 $55,392.16 $707.54 $0.00 $313.20 $56,412.90
67 $56,412.90 $707.54 $0.00 $318.97 $57,439.41
68 $57,439.41 $707.54 $0.00 $324.77 $58,471.72
69 $58,471.72 $707.54 $0.00 $330.61 $59,509.87
70 $59,509.87 $707.54 $0.00 $336.48 $60,553.89
71 $60,553.89 $707.54 $0.00 $342.38 $61,603.81
72 $61,603.81 $707.54 $0.00 $348.32 $62,659.67
73 $62,659.67 $707.54 $0.00 $354.29 $63,721.50
74 $63,721.50 $707.54 $0.00 $360.29 $64,789.33
75 $64,789.33 $707.54 $0.00 $366.33 $65,863.20
76 $65,863.20 $707.54 $0.00 $372.40 $66,943.14
77 $66,943.14 $707.54 $0.00 $378.51 $68,029.19
78 $68,029.19 $707.54 $0.00 $384.65 $69,121.38
79 $69,121.38 $707.54 $0.00 $390.82 $70,219.74
80 $70,219.74 $707.54 $0.00 $397.03 $71,324.31
81 $71,324.31 $707.54 $0.00 $403.28 $72,435.13
82 $72,435.13 $707.54 $0.00 $409.56 $73,552.23
83 $73,552.23 $707.54 $0.00 $415.88 $74,675.65
84 $74,675.65 $707.54 $0.00 $422.23 $75,805.42
85 $75,805.42 $707.54 $0.00 $428.61 $76,941.57
86 $76,941.57 $707.54 $0.00 $435.04 $78,084.15
87 $78,084.15 $707.54 $0.00 $441.50 $79,233.19
88 $79,233.19 $707.54 $0.00 $448.00 $80,388.73
89 $80,388.73 $707.54 $0.00 $454.53 $81,550.80
90 $81,550.80 $707.54 $0.00 $461.10 $82,719.44
91 $82,719.44 $707.54 $0.00 $467.71 $83,894.69
92 $83,894.69 $707.54 $0.00 $474.35 $85,076.58
93 $85,076.58 $707.54 $0.00 $481.04 $86,265.16
94 $86,265.16 $707.54 $0.00 $487.76 $87,460.46
95 $87,460.46 $707.54 $0.00 $494.51 $88,662.51
96 $88,662.51 $707.54 $0.00 $501.31 $89,871.36
97 $89,871.36 $707.54 $0.00 $508.15 $91,087.05
98 $91,087.05 $707.54 $0.00 $515.02 $92,309.61
99 $92,309.61 $707.54 $0.00 $521.93 $93,539.08
100 $93,539.08 $707.54 $0.00 $528.88 $94,775.50
101 $94,775.50 $707.54 $0.00 $535.87 $96,018.91
102 $96,018.91 $707.54 $0.00 $542.90 $97,269.35
103 $97,269.35 $707.54 $0.00 $549.98 $98,526.87
104 $98,526.87 $707.54 $0.00 $557.09 $99,791.50
105 $99,791.50 $707.54 $0.00 $564.24 $101,063.28
106 $101,063.28 $707.54 $0.00 $571.43 $102,342.25
107 $102,342.25 $707.54 $0.00 $578.66 $103,628.45
108 $103,628.45 $707.54 $0.00 $585.93 $104,921.92
109 $104,921.92 $707.54 $0.00 $593.24 $106,222.70
110 $106,222.70 $707.54 $0.00 $600.60 $107,530.84
111 $107,530.84 $707.54 $0.00 $608.00 $108,846.38
112 $108,846.38 $707.54 $0.00 $615.43 $110,169.35
113 $110,169.35 $707.54 $0.00 $622.91 $111,499.80
114 $111,499.80 $707.54 $0.00 $630.44 $112,837.78
115 $112,837.78 $707.54 $0.00 $638.00 $114,183.32
116 $114,183.32 $707.54 $0.00 $645.61 $115,536.47
117 $115,536.47 $707.54 $0.00 $653.26 $116,897.27
118 $116,897.27 $707.54 $0.00 $660.95 $118,265.76
119 $118,265.76 $707.54 $0.00 $668.69 $119,641.99
120 $119,641.99 $707.54 $0.00 $676.47 $121,026.00
121 $121,026.00 $707.54 $0.00 $684.30 $122,417.84
122 $122,417.84 $707.54 $0.00 $692.17 $123,817.55
123 $123,817.55 $707.54 $0.00 $700.08 $125,225.17
124 $125,225.17 $707.54 $0.00 $708.04 $126,640.75
125 $126,640.75 $707.54 $0.00 $716.05 $128,064.34
126 $128,064.34 $707.54 $0.00 $724.09 $129,495.97
127 $129,495.97 $707.54 $0.00 $732.19 $130,935.70
128 $130,935.70 $707.54 $0.00 $740.33 $132,383.57
129 $132,383.57 $707.54 $0.00 $748.52 $133,839.63
130 $133,839.63 $707.54 $0.00 $756.75 $135,303.92
131 $135,303.92 $707.54 $0.00 $765.03 $136,776.49
132 $136,776.49 $707.54 $0.00 $773.35 $138,257.38
133 $138,257.38 $707.54 $0.00 $781.73 $139,746.65
134 $139,746.65 $707.54 $0.00 $790.15 $141,244.34
135 $141,244.34 $707.54 $0.00 $798.62 $142,750.50
136 $142,750.50 $707.54 $0.00 $807.13 $144,265.17
137 $144,265.17 $707.54 $0.00 $815.70 $145,788.41
138 $145,788.41 $707.54 $0.00 $824.31 $147,320.26
139 $147,320.26 $707.54 $0.00 $832.97 $148,860.77
140 $148,860.77 $707.54 $0.00 $841.68 $150,409.99
141 $150,409.99 $707.54 $0.00 $850.44 $151,967.97
142 $151,967.97 $707.54 $0.00 $859.25 $153,534.76
143 $153,534.76 $707.54 $0.00 $868.11 $155,110.41
144 $155,110.41 $707.54 $0.00 $877.02 $156,694.97
145 $156,694.97 $707.54 $0.00 $885.98 $158,288.49
146 $158,288.49 $707.54 $0.00 $894.99 $159,891.02
147 $159,891.02 $707.54 $0.00 $904.05 $161,502.61
148 $161,502.61 $707.54 $0.00 $913.16 $163,123.31
149 $163,123.31 $707.54 $0.00 $922.32 $164,753.17
150 $164,753.17 $707.54 $0.00 $931.54 $166,392.25
151 $166,392.25 $707.54 $0.00 $940.81 $168,040.60
152 $168,040.60 $707.54 $0.00 $950.13 $169,698.27
153 $169,698.27 $707.54 $0.00 $959.50 $171,365.31
154 $171,365.31 $707.54 $0.00 $968.92 $173,041.77
155 $173,041.77 $707.54 $0.00 $978.40 $174,727.71
156 $174,727.71 $707.54 $0.00 $987.94 $176,423.19
157 $176,423.19 $707.54 $0.00 $997.52 $178,128.25
158 $178,128.25 $707.54 $0.00 $1,007.16 $179,842.95
159 $179,842.95 $707.54 $0.00 $1,016.86 $181,567.35
160 $181,567.35 $707.54 $0.00 $1,026.61 $183,301.50
161 $183,301.50 $707.54 $0.00 $1,036.41 $185,045.45
162 $185,045.45 $707.54 $0.00 $1,046.27 $186,799.26
163 $186,799.26 $707.54 $0.00 $1,056.19 $188,562.99
164 $188,562.99 $707.54 $0.00 $1,066.16 $190,336.69
165 $190,336.69 $707.54 $0.00 $1,076.19 $192,120.42
166 $192,120.42 $707.54 $0.00 $1,086.28 $193,914.24
167 $193,914.24 $707.54 $0.00 $1,096.42 $195,718.20
168 $195,718.20 $707.54 $0.00 $1,106.62 $197,532.36
169 $197,532.36 $707.54 $0.00 $1,116.88 $199,356.78
170 $199,356.78 $707.54 $0.00 $1,127.19 $201,191.51
171 $201,191.51 $707.54 $0.00 $1,137.57 $203,036.62
172 $203,036.62 $707.54 $0.00 $1,148.00 $204,892.16
173 $204,892.16 $707.54 $0.00 $1,158.49 $206,758.19
174 $206,758.19 $707.54 $0.00 $1,169.04 $208,634.77
175 $208,634.77 $707.54 $0.00 $1,179.65 $210,521.96
176 $210,521.96 $707.54 $0.00 $1,190.32 $212,419.82
177 $212,419.82 $707.54 $0.00 $1,201.05 $214,328.41
178 $214,328.41 $707.54 $0.00 $1,211.84 $216,247.79
179 $216,247.79 $707.54 $0.00 $1,222.70 $218,178.03
180 $218,178.03 $707.54 $0.00 $1,233.61 $220,119.18
181 $220,119.18 $707.54 $0.00 $1,244.59 $222,071.31
182 $222,071.31 $707.54 $0.00 $1,255.62 $224,034.47
183 $224,034.47 $707.54 $0.00 $1,266.72 $226,008.73
184 $226,008.73 $707.54 $0.00 $1,277.89 $227,994.16
185 $227,994.16 $707.54 $0.00 $1,289.11 $229,990.81
186 $229,990.81 $707.54 $0.00 $1,300.40 $231,998.75
187 $231,998.75 $707.54 $0.00 $1,311.75 $234,018.04
188 $234,018.04 $707.54 $0.00 $1,323.17 $236,048.75
189 $236,048.75 $707.54 $0.00 $1,334.65 $238,090.94
190 $238,090.94 $707.54 $0.00 $1,346.20 $240,144.68
191 $240,144.68 $707.54 $0.00 $1,357.81 $242,210.03
192 $242,210.03 $707.54 $0.00 $1,369.49 $244,287.06
193 $244,287.06 $707.54 $0.00 $1,381.23 $246,375.83
194 $246,375.83 $707.54 $0.00 $1,393.04 $248,476.41
195 $248,476.41 $707.54 $0.00 $1,404.92 $250,588.87
196 $250,588.87 $707.54 $0.00 $1,416.87 $252,713.28
197 $252,713.28 $707.54 $0.00 $1,428.88 $254,849.70
198 $254,849.70 $707.54 $0.00 $1,440.96 $256,998.20
199 $256,998.20 $707.54 $0.00 $1,453.11 $259,158.85
200 $259,158.85 $707.54 $0.00 $1,465.32 $261,331.71
201 $261,331.71 $707.54 $0.00 $1,477.61 $263,516.86
202 $263,516.86 $707.54 $0.00 $1,489.96 $265,714.36
203 $265,714.36 $707.54 $0.00 $1,502.39 $267,924.29
204 $267,924.29 $707.54 $0.00 $1,514.88 $270,146.71
205 $270,146.71 $707.54 $0.00 $1,527.45 $272,381.70
206 $272,381.70 $707.54 $0.00 $1,540.09 $274,629.33
207 $274,629.33 $707.54 $0.00 $1,552.79 $276,889.66
208 $276,889.66 $707.54 $0.00 $1,565.57 $279,162.77
209 $279,162.77 $707.54 $0.00 $1,578.43 $281,448.74
210 $281,448.74 $707.54 $0.00 $1,591.35 $283,747.63
211 $283,747.63 $707.54 $0.00 $1,604.35 $286,059.52
212 $286,059.52 $707.54 $0.00 $1,617.42 $288,384.48
213 $288,384.48 $707.54 $0.00 $1,630.57 $290,722.59
214 $290,722.59 $707.54 $0.00 $1,643.79 $293,073.92
215 $293,073.92 $707.54 $0.00 $1,657.08 $295,438.54
216 $295,438.54 $707.54 $0.00 $1,670.45 $297,816.53
217 $297,816.53 $707.54 $82,951.35 $1,683.90 $217,256.62
218 $217,256.62 $707.54 $0.00 $1,228.40 $219,192.56
219 $219,192.56 $707.54 $0.00 $1,239.35 $221,139.45
220 $221,139.45 $707.54 $0.00 $1,250.35 $223,097.34
221 $223,097.34 $707.54 $0.00 $1,261.42 $225,066.30
222 $225,066.30 $707.54 $0.00 $1,272.56 $227,046.40
223 $227,046.40 $707.54 $0.00 $1,283.75 $229,037.69
224 $229,037.69 $707.54 $0.00 $1,295.01 $231,040.24
225 $231,040.24 $707.54 $0.00 $1,306.34 $233,054.12
226 $233,054.12 $707.54 $0.00 $1,317.72 $235,079.38
227 $235,079.38 $707.54 $0.00 $1,329.17 $237,116.09
228 $237,116.09 $707.54 $0.00 $1,340.69 $239,164.32
229 $239,164.32 $707.54 $87,098.92 $1,352.27 $154,125.21
230 $154,125.21 $707.54 $0.00 $871.45 $155,704.20
231 $155,704.20 $707.54 $0.00 $880.37 $157,292.11
232 $157,292.11 $707.54 $0.00 $889.35 $158,889.00
233 $158,889.00 $707.54 $0.00 $898.38 $160,494.92
234 $160,494.92 $707.54 $0.00 $907.46 $162,109.92
235 $162,109.92 $707.54 $0.00 $916.59 $163,734.05
236 $163,734.05 $707.54 $0.00 $925.78 $165,367.37
237 $165,367.37 $707.54 $0.00 $935.01 $167,009.92
238 $167,009.92 $707.54 $0.00 $944.30 $168,661.76
239 $168,661.76 $707.54 $0.00 $953.64 $170,322.94
240 $170,322.94 $707.54 $0.00 $963.03 $171,993.51
241 $171,993.51 $707.54 $91,453.87 $972.48 $82,219.66
242 $82,219.66 $707.54 $0.00 $464.88 $83,392.08
243 $83,392.08 $707.54 $0.00 $471.51 $84,571.13
244 $84,571.13 $707.54 $0.00 $478.18 $85,756.85
245 $85,756.85 $707.54 $0.00 $484.88 $86,949.27
246 $86,949.27 $707.54 $0.00 $491.62 $88,148.43
247 $88,148.43 $707.54 $0.00 $498.40 $89,354.37
248 $89,354.37 $707.54 $0.00 $505.22 $90,567.13
249 $90,567.13 $707.54 $0.00 $512.08 $91,786.75
250 $91,786.75 $707.54 $0.00 $518.98 $93,013.27
251 $93,013.27 $707.54 $0.00 $525.91 $94,246.72
252 $94,246.72 $707.54 $0.00 $532.88 $95,487.14
253 $95,487.14 $0.00 $96,026.56 $539.90 $0.48