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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$66,285
Monthly savings required$295

How much will it cost to send your child to CUNY Hostos Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $132,569.94 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $294.59 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$26,871.00
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 $294.59 $0.00 $0.00 $294.59
2 $294.59 $294.59 $0.00 $1.67 $590.85
3 $590.85 $294.59 $0.00 $3.34 $888.78
4 $888.78 $294.59 $0.00 $5.03 $1,188.40
5 $1,188.40 $294.59 $0.00 $6.72 $1,489.71
6 $1,489.71 $294.59 $0.00 $8.42 $1,792.72
7 $1,792.72 $294.59 $0.00 $10.14 $2,097.45
8 $2,097.45 $294.59 $0.00 $11.86 $2,403.90
9 $2,403.90 $294.59 $0.00 $13.59 $2,712.08
10 $2,712.08 $294.59 $0.00 $15.33 $3,022.00
11 $3,022.00 $294.59 $0.00 $17.09 $3,333.68
12 $3,333.68 $294.59 $0.00 $18.85 $3,647.12
13 $3,647.12 $294.59 $0.00 $20.62 $3,962.33
14 $3,962.33 $294.59 $0.00 $22.40 $4,279.32
15 $4,279.32 $294.59 $0.00 $24.20 $4,598.11
16 $4,598.11 $294.59 $0.00 $26.00 $4,918.70
17 $4,918.70 $294.59 $0.00 $27.81 $5,241.10
18 $5,241.10 $294.59 $0.00 $29.63 $5,565.32
19 $5,565.32 $294.59 $0.00 $31.47 $5,891.38
20 $5,891.38 $294.59 $0.00 $33.31 $6,219.28
21 $6,219.28 $294.59 $0.00 $35.16 $6,549.03
22 $6,549.03 $294.59 $0.00 $37.03 $6,880.65
23 $6,880.65 $294.59 $0.00 $38.90 $7,214.14
24 $7,214.14 $294.59 $0.00 $40.79 $7,549.52
25 $7,549.52 $294.59 $0.00 $42.69 $7,886.80
26 $7,886.80 $294.59 $0.00 $44.59 $8,225.98
27 $8,225.98 $294.59 $0.00 $46.51 $8,567.08
28 $8,567.08 $294.59 $0.00 $48.44 $8,910.11
29 $8,910.11 $294.59 $0.00 $50.38 $9,255.08
30 $9,255.08 $294.59 $0.00 $52.33 $9,602.00
31 $9,602.00 $294.59 $0.00 $54.29 $9,950.88
32 $9,950.88 $294.59 $0.00 $56.26 $10,301.73
33 $10,301.73 $294.59 $0.00 $58.25 $10,654.57
34 $10,654.57 $294.59 $0.00 $60.24 $11,009.40
35 $11,009.40 $294.59 $0.00 $62.25 $11,366.24
36 $11,366.24 $294.59 $0.00 $64.27 $11,725.10
37 $11,725.10 $294.59 $0.00 $66.30 $12,085.99
38 $12,085.99 $294.59 $0.00 $68.34 $12,448.92
39 $12,448.92 $294.59 $0.00 $70.39 $12,813.90
40 $12,813.90 $294.59 $0.00 $72.45 $13,180.94
41 $13,180.94 $294.59 $0.00 $74.53 $13,550.06
42 $13,550.06 $294.59 $0.00 $76.61 $13,921.26
43 $13,921.26 $294.59 $0.00 $78.71 $14,294.56
44 $14,294.56 $294.59 $0.00 $80.82 $14,669.97
45 $14,669.97 $294.59 $0.00 $82.95 $15,047.51
46 $15,047.51 $294.59 $0.00 $85.08 $15,427.18
47 $15,427.18 $294.59 $0.00 $87.23 $15,809.00
48 $15,809.00 $294.59 $0.00 $89.39 $16,192.98
49 $16,192.98 $294.59 $0.00 $91.56 $16,579.13
50 $16,579.13 $294.59 $0.00 $93.74 $16,967.46
51 $16,967.46 $294.59 $0.00 $95.94 $17,357.99
52 $17,357.99 $294.59 $0.00 $98.14 $17,750.72
53 $17,750.72 $294.59 $0.00 $100.37 $18,145.68
54 $18,145.68 $294.59 $0.00 $102.60 $18,542.87
55 $18,542.87 $294.59 $0.00 $104.84 $18,942.30
56 $18,942.30 $294.59 $0.00 $107.10 $19,343.99
57 $19,343.99 $294.59 $0.00 $109.37 $19,747.95
58 $19,747.95 $294.59 $0.00 $111.66 $20,154.20
59 $20,154.20 $294.59 $0.00 $113.95 $20,562.74
60 $20,562.74 $294.59 $0.00 $116.26 $20,973.59
61 $20,973.59 $294.59 $0.00 $118.59 $21,386.77
62 $21,386.77 $294.59 $0.00 $120.92 $21,802.28
63 $21,802.28 $294.59 $0.00 $123.27 $22,220.14
64 $22,220.14 $294.59 $0.00 $125.64 $22,640.37
65 $22,640.37 $294.59 $0.00 $128.01 $23,062.97
66 $23,062.97 $294.59 $0.00 $130.40 $23,487.96
67 $23,487.96 $294.59 $0.00 $132.80 $23,915.35
68 $23,915.35 $294.59 $0.00 $135.22 $24,345.16
69 $24,345.16 $294.59 $0.00 $137.65 $24,777.40
70 $24,777.40 $294.59 $0.00 $140.10 $25,212.09
71 $25,212.09 $294.59 $0.00 $142.55 $25,649.23
72 $25,649.23 $294.59 $0.00 $145.02 $26,088.84
73 $26,088.84 $294.59 $0.00 $147.51 $26,530.94
74 $26,530.94 $294.59 $0.00 $150.01 $26,975.54
75 $26,975.54 $294.59 $0.00 $152.52 $27,422.65
76 $27,422.65 $294.59 $0.00 $155.05 $27,872.29
77 $27,872.29 $294.59 $0.00 $157.59 $28,324.47
78 $28,324.47 $294.59 $0.00 $160.15 $28,779.21
79 $28,779.21 $294.59 $0.00 $162.72 $29,236.52
80 $29,236.52 $294.59 $0.00 $165.31 $29,696.42
81 $29,696.42 $294.59 $0.00 $167.91 $30,158.92
82 $30,158.92 $294.59 $0.00 $170.52 $30,624.03
83 $30,624.03 $294.59 $0.00 $173.15 $31,091.77
84 $31,091.77 $294.59 $0.00 $175.80 $31,562.16
85 $31,562.16 $294.59 $0.00 $178.46 $32,035.21
86 $32,035.21 $294.59 $0.00 $181.13 $32,510.93
87 $32,510.93 $294.59 $0.00 $183.82 $32,989.34
88 $32,989.34 $294.59 $0.00 $186.53 $33,470.46
89 $33,470.46 $294.59 $0.00 $189.25 $33,954.30
90 $33,954.30 $294.59 $0.00 $191.98 $34,440.87
91 $34,440.87 $294.59 $0.00 $194.73 $34,930.19
92 $34,930.19 $294.59 $0.00 $197.50 $35,422.28
93 $35,422.28 $294.59 $0.00 $200.28 $35,917.15
94 $35,917.15 $294.59 $0.00 $203.08 $36,414.82
95 $36,414.82 $294.59 $0.00 $205.89 $36,915.30
96 $36,915.30 $294.59 $0.00 $208.72 $37,418.61
97 $37,418.61 $294.59 $0.00 $211.57 $37,924.77
98 $37,924.77 $294.59 $0.00 $214.43 $38,433.79
99 $38,433.79 $294.59 $0.00 $217.31 $38,945.69
100 $38,945.69 $294.59 $0.00 $220.20 $39,460.48
101 $39,460.48 $294.59 $0.00 $223.12 $39,978.19
102 $39,978.19 $294.59 $0.00 $226.04 $40,498.82
103 $40,498.82 $294.59 $0.00 $228.99 $41,022.40
104 $41,022.40 $294.59 $0.00 $231.95 $41,548.94
105 $41,548.94 $294.59 $0.00 $234.92 $42,078.45
106 $42,078.45 $294.59 $0.00 $237.92 $42,610.96
107 $42,610.96 $294.59 $0.00 $240.93 $43,146.48
108 $43,146.48 $294.59 $0.00 $243.96 $43,685.03
109 $43,685.03 $294.59 $0.00 $247.00 $44,226.62
110 $44,226.62 $294.59 $0.00 $250.06 $44,771.27
111 $44,771.27 $294.59 $0.00 $253.14 $45,319.00
112 $45,319.00 $294.59 $0.00 $256.24 $45,869.83
113 $45,869.83 $294.59 $0.00 $259.35 $46,423.77
114 $46,423.77 $294.59 $0.00 $262.49 $46,980.85
115 $46,980.85 $294.59 $0.00 $265.64 $47,541.08
116 $47,541.08 $294.59 $0.00 $268.80 $48,104.47
117 $48,104.47 $294.59 $0.00 $271.99 $48,671.05
118 $48,671.05 $294.59 $0.00 $275.19 $49,240.83
119 $49,240.83 $294.59 $0.00 $278.41 $49,813.83
120 $49,813.83 $294.59 $0.00 $281.65 $50,390.07
121 $50,390.07 $294.59 $0.00 $284.91 $50,969.57
122 $50,969.57 $294.59 $0.00 $288.19 $51,552.35
123 $51,552.35 $294.59 $0.00 $291.48 $52,138.42
124 $52,138.42 $294.59 $0.00 $294.80 $52,727.81
125 $52,727.81 $294.59 $0.00 $298.13 $53,320.53
126 $53,320.53 $294.59 $0.00 $301.48 $53,916.60
127 $53,916.60 $294.59 $0.00 $304.85 $54,516.04
128 $54,516.04 $294.59 $0.00 $308.24 $55,118.87
129 $55,118.87 $294.59 $0.00 $311.65 $55,725.11
130 $55,725.11 $294.59 $0.00 $315.08 $56,334.78
131 $56,334.78 $294.59 $0.00 $318.53 $56,947.90
132 $56,947.90 $294.59 $0.00 $321.99 $57,564.48
133 $57,564.48 $294.59 $0.00 $325.48 $58,184.55
134 $58,184.55 $294.59 $0.00 $328.98 $58,808.12
135 $58,808.12 $294.59 $0.00 $332.51 $59,435.22
136 $59,435.22 $294.59 $0.00 $336.06 $60,065.87
137 $60,065.87 $294.59 $0.00 $339.62 $60,700.08
138 $60,700.08 $294.59 $0.00 $343.21 $61,337.88
139 $61,337.88 $294.59 $0.00 $346.81 $61,979.28
140 $61,979.28 $294.59 $0.00 $350.44 $62,624.31
141 $62,624.31 $294.59 $0.00 $354.09 $63,272.99
142 $63,272.99 $294.59 $0.00 $357.75 $63,925.33
143 $63,925.33 $294.59 $0.00 $361.44 $64,581.36
144 $64,581.36 $294.59 $0.00 $365.15 $65,241.10
145 $65,241.10 $294.59 $0.00 $368.88 $65,904.57
146 $65,904.57 $294.59 $0.00 $372.63 $66,571.79
147 $66,571.79 $294.59 $0.00 $376.41 $67,242.79
148 $67,242.79 $294.59 $0.00 $380.20 $67,917.58
149 $67,917.58 $294.59 $0.00 $384.02 $68,596.19
150 $68,596.19 $294.59 $0.00 $387.85 $69,278.63
151 $69,278.63 $294.59 $0.00 $391.71 $69,964.93
152 $69,964.93 $294.59 $0.00 $395.59 $70,655.11
153 $70,655.11 $294.59 $0.00 $399.49 $71,349.19
154 $71,349.19 $294.59 $0.00 $403.42 $72,047.20
155 $72,047.20 $294.59 $0.00 $407.37 $72,749.16
156 $72,749.16 $294.59 $0.00 $411.33 $73,455.08
157 $73,455.08 $294.59 $0.00 $415.33 $74,165.00
158 $74,165.00 $294.59 $0.00 $419.34 $74,878.93
159 $74,878.93 $294.59 $0.00 $423.38 $75,596.90
160 $75,596.90 $294.59 $0.00 $427.44 $76,318.93
161 $76,318.93 $294.59 $0.00 $431.52 $77,045.04
162 $77,045.04 $294.59 $0.00 $435.62 $77,775.25
163 $77,775.25 $294.59 $0.00 $439.75 $78,509.59
164 $78,509.59 $294.59 $0.00 $443.90 $79,248.08
165 $79,248.08 $294.59 $0.00 $448.08 $79,990.75
166 $79,990.75 $294.59 $0.00 $452.28 $80,737.62
167 $80,737.62 $294.59 $0.00 $456.50 $81,488.71
168 $81,488.71 $294.59 $0.00 $460.75 $82,244.05
169 $82,244.05 $294.59 $0.00 $465.02 $83,003.66
170 $83,003.66 $294.59 $0.00 $469.31 $83,767.56
171 $83,767.56 $294.59 $0.00 $473.63 $84,535.78
172 $84,535.78 $294.59 $0.00 $477.98 $85,308.35
173 $85,308.35 $294.59 $0.00 $482.35 $86,085.29
174 $86,085.29 $294.59 $0.00 $486.74 $86,866.62
175 $86,866.62 $294.59 $0.00 $491.16 $87,652.37
176 $87,652.37 $294.59 $0.00 $495.60 $88,442.56
177 $88,442.56 $294.59 $0.00 $500.07 $89,237.22
178 $89,237.22 $294.59 $0.00 $504.56 $90,036.37
179 $90,036.37 $294.59 $0.00 $509.08 $90,840.04
180 $90,840.04 $294.59 $0.00 $513.62 $91,648.25
181 $91,648.25 $294.59 $0.00 $518.19 $92,461.03
182 $92,461.03 $294.59 $0.00 $522.79 $93,278.41
183 $93,278.41 $294.59 $0.00 $527.41 $94,100.41
184 $94,100.41 $294.59 $0.00 $532.06 $94,927.06
185 $94,927.06 $294.59 $0.00 $536.73 $95,758.38
186 $95,758.38 $294.59 $0.00 $541.43 $96,594.40
187 $96,594.40 $294.59 $0.00 $546.16 $97,435.15
188 $97,435.15 $294.59 $0.00 $550.91 $98,280.65
189 $98,280.65 $294.59 $0.00 $555.69 $99,130.93
190 $99,130.93 $294.59 $0.00 $560.50 $99,986.02
191 $99,986.02 $294.59 $0.00 $565.34 $100,845.95
192 $100,845.95 $294.59 $0.00 $570.20 $101,710.74
193 $101,710.74 $294.59 $0.00 $575.09 $102,580.42
194 $102,580.42 $294.59 $0.00 $580.00 $103,455.01
195 $103,455.01 $294.59 $0.00 $584.95 $104,334.55
196 $104,334.55 $294.59 $0.00 $589.92 $105,219.06
197 $105,219.06 $294.59 $0.00 $594.92 $106,108.57
198 $106,108.57 $294.59 $0.00 $599.95 $107,003.11
199 $107,003.11 $294.59 $0.00 $605.01 $107,902.71
200 $107,902.71 $294.59 $0.00 $610.10 $108,807.40
201 $108,807.40 $294.59 $0.00 $615.21 $109,717.20
202 $109,717.20 $294.59 $0.00 $620.36 $110,632.15
203 $110,632.15 $294.59 $0.00 $625.53 $111,552.27
204 $111,552.27 $294.59 $0.00 $630.73 $112,477.59
205 $112,477.59 $294.59 $0.00 $635.96 $113,408.14
206 $113,408.14 $294.59 $0.00 $641.23 $114,343.96
207 $114,343.96 $294.59 $0.00 $646.52 $115,285.07
208 $115,285.07 $294.59 $0.00 $651.84 $116,231.50
209 $116,231.50 $294.59 $0.00 $657.19 $117,183.28
210 $117,183.28 $294.59 $0.00 $662.57 $118,140.44
211 $118,140.44 $294.59 $0.00 $667.98 $119,103.01
212 $119,103.01 $294.59 $0.00 $673.43 $120,071.03
213 $120,071.03 $294.59 $0.00 $678.90 $121,044.52
214 $121,044.52 $294.59 $0.00 $684.40 $122,023.51
215 $122,023.51 $294.59 $0.00 $689.94 $123,008.04
216 $123,008.04 $294.59 $0.00 $695.51 $123,998.14
217 $123,998.14 $294.59 $64,668.27 $701.10 $60,325.56
218 $60,325.56 $294.59 $0.00 $341.09 $60,961.24
219 $60,961.24 $294.59 $0.00 $344.68 $61,600.51
220 $61,600.51 $294.59 $0.00 $348.30 $62,243.40
221 $62,243.40 $294.59 $0.00 $351.93 $62,889.92
222 $62,889.92 $294.59 $0.00 $355.59 $63,540.10
223 $63,540.10 $294.59 $0.00 $359.26 $64,193.95
224 $64,193.95 $294.59 $0.00 $362.96 $64,851.50
225 $64,851.50 $294.59 $0.00 $366.68 $65,512.77
226 $65,512.77 $294.59 $0.00 $370.42 $66,177.78
227 $66,177.78 $294.59 $0.00 $374.18 $66,846.55
228 $66,846.55 $294.59 $0.00 $377.96 $67,519.10
229 $67,519.10 $0.00 $67,901.68 $381.76 ($0.82)