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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$71,137
Monthly savings required$563

How much will it cost to send your child to CUNY New York City College of Technology in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $284,547.47 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $563.10 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$27,432.00
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 $563.10 $0.00 $0.00 $563.10
2 $563.10 $563.10 $0.00 $3.18 $1,129.38
3 $1,129.38 $563.10 $0.00 $6.39 $1,698.87
4 $1,698.87 $563.10 $0.00 $9.61 $2,271.58
5 $2,271.58 $563.10 $0.00 $12.84 $2,847.52
6 $2,847.52 $563.10 $0.00 $16.10 $3,426.72
7 $3,426.72 $563.10 $0.00 $19.38 $4,009.20
8 $4,009.20 $563.10 $0.00 $22.67 $4,594.97
9 $4,594.97 $563.10 $0.00 $25.98 $5,184.05
10 $5,184.05 $563.10 $0.00 $29.31 $5,776.46
11 $5,776.46 $563.10 $0.00 $32.66 $6,372.22
12 $6,372.22 $563.10 $0.00 $36.03 $6,971.35
13 $6,971.35 $563.10 $0.00 $39.42 $7,573.87
14 $7,573.87 $563.10 $0.00 $42.82 $8,179.79
15 $8,179.79 $563.10 $0.00 $46.25 $8,789.14
16 $8,789.14 $563.10 $0.00 $49.70 $9,401.94
17 $9,401.94 $563.10 $0.00 $53.16 $10,018.20
18 $10,018.20 $563.10 $0.00 $56.64 $10,637.94
19 $10,637.94 $563.10 $0.00 $60.15 $11,261.19
20 $11,261.19 $563.10 $0.00 $63.67 $11,887.96
21 $11,887.96 $563.10 $0.00 $67.22 $12,518.28
22 $12,518.28 $563.10 $0.00 $70.78 $13,152.16
23 $13,152.16 $563.10 $0.00 $74.36 $13,789.62
24 $13,789.62 $563.10 $0.00 $77.97 $14,430.69
25 $14,430.69 $563.10 $0.00 $81.59 $15,075.38
26 $15,075.38 $563.10 $0.00 $85.24 $15,723.72
27 $15,723.72 $563.10 $0.00 $88.90 $16,375.72
28 $16,375.72 $563.10 $0.00 $92.59 $17,031.41
29 $17,031.41 $563.10 $0.00 $96.30 $17,690.81
30 $17,690.81 $563.10 $0.00 $100.03 $18,353.94
31 $18,353.94 $563.10 $0.00 $103.78 $19,020.82
32 $19,020.82 $563.10 $0.00 $107.55 $19,691.47
33 $19,691.47 $563.10 $0.00 $111.34 $20,365.91
34 $20,365.91 $563.10 $0.00 $115.15 $21,044.16
35 $21,044.16 $563.10 $0.00 $118.99 $21,726.25
36 $21,726.25 $563.10 $0.00 $122.84 $22,412.19
37 $22,412.19 $563.10 $0.00 $126.72 $23,102.01
38 $23,102.01 $563.10 $0.00 $130.62 $23,795.73
39 $23,795.73 $563.10 $0.00 $134.54 $24,493.37
40 $24,493.37 $563.10 $0.00 $138.49 $25,194.96
41 $25,194.96 $563.10 $0.00 $142.46 $25,900.52
42 $25,900.52 $563.10 $0.00 $146.45 $26,610.07
43 $26,610.07 $563.10 $0.00 $150.46 $27,323.63
44 $27,323.63 $563.10 $0.00 $154.49 $28,041.22
45 $28,041.22 $563.10 $0.00 $158.55 $28,762.87
46 $28,762.87 $563.10 $0.00 $162.63 $29,488.60
47 $29,488.60 $563.10 $0.00 $166.73 $30,218.43
48 $30,218.43 $563.10 $0.00 $170.86 $30,952.39
49 $30,952.39 $563.10 $0.00 $175.01 $31,690.50
50 $31,690.50 $563.10 $0.00 $179.18 $32,432.78
51 $32,432.78 $563.10 $0.00 $183.38 $33,179.26
52 $33,179.26 $563.10 $0.00 $187.60 $33,929.96
53 $33,929.96 $563.10 $0.00 $191.84 $34,684.90
54 $34,684.90 $563.10 $0.00 $196.11 $35,444.11
55 $35,444.11 $563.10 $0.00 $200.41 $36,207.62
56 $36,207.62 $563.10 $0.00 $204.72 $36,975.44
57 $36,975.44 $563.10 $0.00 $209.06 $37,747.60
58 $37,747.60 $563.10 $0.00 $213.43 $38,524.13
59 $38,524.13 $563.10 $0.00 $217.82 $39,305.05
60 $39,305.05 $563.10 $0.00 $222.24 $40,090.39
61 $40,090.39 $563.10 $0.00 $226.68 $40,880.17
62 $40,880.17 $563.10 $0.00 $231.14 $41,674.41
63 $41,674.41 $563.10 $0.00 $235.63 $42,473.14
64 $42,473.14 $563.10 $0.00 $240.15 $43,276.39
65 $43,276.39 $563.10 $0.00 $244.69 $44,084.18
66 $44,084.18 $563.10 $0.00 $249.26 $44,896.54
67 $44,896.54 $563.10 $0.00 $253.85 $45,713.49
68 $45,713.49 $563.10 $0.00 $258.47 $46,535.06
69 $46,535.06 $563.10 $0.00 $263.12 $47,361.28
70 $47,361.28 $563.10 $0.00 $267.79 $48,192.17
71 $48,192.17 $563.10 $0.00 $272.49 $49,027.76
72 $49,027.76 $563.10 $0.00 $277.21 $49,868.07
73 $49,868.07 $563.10 $0.00 $281.96 $50,713.13
74 $50,713.13 $563.10 $0.00 $286.74 $51,562.97
75 $51,562.97 $563.10 $0.00 $291.54 $52,417.61
76 $52,417.61 $563.10 $0.00 $296.38 $53,277.09
77 $53,277.09 $563.10 $0.00 $301.24 $54,141.43
78 $54,141.43 $563.10 $0.00 $306.12 $55,010.65
79 $55,010.65 $563.10 $0.00 $311.04 $55,884.79
80 $55,884.79 $563.10 $0.00 $315.98 $56,763.87
81 $56,763.87 $563.10 $0.00 $320.95 $57,647.92
82 $57,647.92 $563.10 $0.00 $325.95 $58,536.97
83 $58,536.97 $563.10 $0.00 $330.98 $59,431.05
84 $59,431.05 $563.10 $0.00 $336.03 $60,330.18
85 $60,330.18 $563.10 $0.00 $341.12 $61,234.40
86 $61,234.40 $563.10 $0.00 $346.23 $62,143.73
87 $62,143.73 $563.10 $0.00 $351.37 $63,058.20
88 $63,058.20 $563.10 $0.00 $356.54 $63,977.84
89 $63,977.84 $563.10 $0.00 $361.74 $64,902.68
90 $64,902.68 $563.10 $0.00 $366.97 $65,832.75
91 $65,832.75 $563.10 $0.00 $372.23 $66,768.08
92 $66,768.08 $563.10 $0.00 $377.52 $67,708.70
93 $67,708.70 $563.10 $0.00 $382.83 $68,654.63
94 $68,654.63 $563.10 $0.00 $388.18 $69,605.91
95 $69,605.91 $563.10 $0.00 $393.56 $70,562.57
96 $70,562.57 $563.10 $0.00 $398.97 $71,524.64
97 $71,524.64 $563.10 $0.00 $404.41 $72,492.15
98 $72,492.15 $563.10 $0.00 $409.88 $73,465.13
99 $73,465.13 $563.10 $0.00 $415.38 $74,443.61
100 $74,443.61 $563.10 $0.00 $420.91 $75,427.62
101 $75,427.62 $563.10 $0.00 $426.48 $76,417.20
102 $76,417.20 $563.10 $0.00 $432.07 $77,412.37
103 $77,412.37 $563.10 $0.00 $437.70 $78,413.17
104 $78,413.17 $563.10 $0.00 $443.36 $79,419.63
105 $79,419.63 $563.10 $0.00 $449.05 $80,431.78
106 $80,431.78 $563.10 $0.00 $454.77 $81,449.65
107 $81,449.65 $563.10 $0.00 $460.53 $82,473.28
108 $82,473.28 $563.10 $0.00 $466.32 $83,502.70
109 $83,502.70 $563.10 $0.00 $472.14 $84,537.94
110 $84,537.94 $563.10 $0.00 $477.99 $85,579.03
111 $85,579.03 $563.10 $0.00 $483.88 $86,626.01
112 $86,626.01 $563.10 $0.00 $489.80 $87,678.91
113 $87,678.91 $563.10 $0.00 $495.75 $88,737.76
114 $88,737.76 $563.10 $0.00 $501.74 $89,802.60
115 $89,802.60 $563.10 $0.00 $507.76 $90,873.46
116 $90,873.46 $563.10 $0.00 $513.81 $91,950.37
117 $91,950.37 $563.10 $0.00 $519.90 $93,033.37
118 $93,033.37 $563.10 $0.00 $526.02 $94,122.49
119 $94,122.49 $563.10 $0.00 $532.18 $95,217.77
120 $95,217.77 $563.10 $0.00 $538.38 $96,319.25
121 $96,319.25 $563.10 $0.00 $544.60 $97,426.95
122 $97,426.95 $563.10 $0.00 $550.87 $98,540.92
123 $98,540.92 $563.10 $0.00 $557.16 $99,661.18
124 $99,661.18 $563.10 $0.00 $563.50 $100,787.78
125 $100,787.78 $563.10 $0.00 $569.87 $101,920.75
126 $101,920.75 $563.10 $0.00 $576.27 $103,060.12
127 $103,060.12 $563.10 $0.00 $582.72 $104,205.94
128 $104,205.94 $563.10 $0.00 $589.20 $105,358.24
129 $105,358.24 $563.10 $0.00 $595.71 $106,517.05
130 $106,517.05 $563.10 $0.00 $602.26 $107,682.41
131 $107,682.41 $563.10 $0.00 $608.85 $108,854.36
132 $108,854.36 $563.10 $0.00 $615.48 $110,032.94
133 $110,032.94 $563.10 $0.00 $622.14 $111,218.18
134 $111,218.18 $563.10 $0.00 $628.84 $112,410.12
135 $112,410.12 $563.10 $0.00 $635.58 $113,608.80
136 $113,608.80 $563.10 $0.00 $642.36 $114,814.26
137 $114,814.26 $563.10 $0.00 $649.18 $116,026.54
138 $116,026.54 $563.10 $0.00 $656.03 $117,245.67
139 $117,245.67 $563.10 $0.00 $662.92 $118,471.69
140 $118,471.69 $563.10 $0.00 $669.86 $119,704.65
141 $119,704.65 $563.10 $0.00 $676.83 $120,944.58
142 $120,944.58 $563.10 $0.00 $683.84 $122,191.52
143 $122,191.52 $563.10 $0.00 $690.89 $123,445.51
144 $123,445.51 $563.10 $0.00 $697.98 $124,706.59
145 $124,706.59 $563.10 $0.00 $705.11 $125,974.80
146 $125,974.80 $563.10 $0.00 $712.28 $127,250.18
147 $127,250.18 $563.10 $0.00 $719.49 $128,532.77
148 $128,532.77 $563.10 $0.00 $726.74 $129,822.61
149 $129,822.61 $563.10 $0.00 $734.04 $131,119.75
150 $131,119.75 $563.10 $0.00 $741.37 $132,424.22
151 $132,424.22 $563.10 $0.00 $748.75 $133,736.07
152 $133,736.07 $563.10 $0.00 $756.16 $135,055.33
153 $135,055.33 $563.10 $0.00 $763.62 $136,382.05
154 $136,382.05 $563.10 $0.00 $771.12 $137,716.27
155 $137,716.27 $563.10 $0.00 $778.67 $139,058.04
156 $139,058.04 $563.10 $0.00 $786.25 $140,407.39
157 $140,407.39 $563.10 $0.00 $793.88 $141,764.37
158 $141,764.37 $563.10 $0.00 $801.56 $143,129.03
159 $143,129.03 $563.10 $0.00 $809.27 $144,501.40
160 $144,501.40 $563.10 $0.00 $817.03 $145,881.53
161 $145,881.53 $563.10 $0.00 $824.84 $147,269.47
162 $147,269.47 $563.10 $0.00 $832.68 $148,665.25
163 $148,665.25 $563.10 $0.00 $840.57 $150,068.92
164 $150,068.92 $563.10 $0.00 $848.51 $151,480.53
165 $151,480.53 $563.10 $0.00 $856.49 $152,900.12
166 $152,900.12 $563.10 $0.00 $864.52 $154,327.74
167 $154,327.74 $563.10 $0.00 $872.59 $155,763.43
168 $155,763.43 $563.10 $0.00 $880.71 $157,207.24
169 $157,207.24 $563.10 $0.00 $888.87 $158,659.21
170 $158,659.21 $563.10 $0.00 $897.08 $160,119.39
171 $160,119.39 $563.10 $0.00 $905.34 $161,587.83
172 $161,587.83 $563.10 $0.00 $913.64 $163,064.57
173 $163,064.57 $563.10 $0.00 $921.99 $164,549.66
174 $164,549.66 $563.10 $0.00 $930.39 $166,043.15
175 $166,043.15 $563.10 $0.00 $938.83 $167,545.08
176 $167,545.08 $563.10 $0.00 $947.32 $169,055.50
177 $169,055.50 $563.10 $0.00 $955.86 $170,574.46
178 $170,574.46 $563.10 $0.00 $964.45 $172,102.01
179 $172,102.01 $563.10 $0.00 $973.09 $173,638.20
180 $173,638.20 $563.10 $0.00 $981.78 $175,183.08
181 $175,183.08 $563.10 $0.00 $990.51 $176,736.69
182 $176,736.69 $563.10 $0.00 $999.29 $178,299.08
183 $178,299.08 $563.10 $0.00 $1,008.13 $179,870.31
184 $179,870.31 $563.10 $0.00 $1,017.01 $181,450.42
185 $181,450.42 $563.10 $0.00 $1,025.95 $183,039.47
186 $183,039.47 $563.10 $0.00 $1,034.93 $184,637.50
187 $184,637.50 $563.10 $0.00 $1,043.97 $186,244.57
188 $186,244.57 $563.10 $0.00 $1,053.05 $187,860.72
189 $187,860.72 $563.10 $0.00 $1,062.19 $189,486.01
190 $189,486.01 $563.10 $0.00 $1,071.38 $191,120.49
191 $191,120.49 $563.10 $0.00 $1,080.62 $192,764.21
192 $192,764.21 $563.10 $0.00 $1,089.92 $194,417.23
193 $194,417.23 $563.10 $0.00 $1,099.26 $196,079.59
194 $196,079.59 $563.10 $0.00 $1,108.66 $197,751.35
195 $197,751.35 $563.10 $0.00 $1,118.11 $199,432.56
196 $199,432.56 $563.10 $0.00 $1,127.62 $201,123.28
197 $201,123.28 $563.10 $0.00 $1,137.18 $202,823.56
198 $202,823.56 $563.10 $0.00 $1,146.79 $204,533.45
199 $204,533.45 $563.10 $0.00 $1,156.46 $206,253.01
200 $206,253.01 $563.10 $0.00 $1,166.18 $207,982.29
201 $207,982.29 $563.10 $0.00 $1,175.96 $209,721.35
202 $209,721.35 $563.10 $0.00 $1,185.80 $211,470.25
203 $211,470.25 $563.10 $0.00 $1,195.68 $213,229.03
204 $213,229.03 $563.10 $0.00 $1,205.63 $214,997.76
205 $214,997.76 $563.10 $0.00 $1,215.63 $216,776.49
206 $216,776.49 $563.10 $0.00 $1,225.69 $218,565.28
207 $218,565.28 $563.10 $0.00 $1,235.80 $220,364.18
208 $220,364.18 $563.10 $0.00 $1,245.97 $222,173.25
209 $222,173.25 $563.10 $0.00 $1,256.20 $223,992.55
210 $223,992.55 $563.10 $0.00 $1,266.49 $225,822.14
211 $225,822.14 $563.10 $0.00 $1,276.83 $227,662.07
212 $227,662.07 $563.10 $0.00 $1,287.23 $229,512.40
213 $229,512.40 $563.10 $0.00 $1,297.70 $231,373.20
214 $231,373.20 $563.10 $0.00 $1,308.22 $233,244.52
215 $233,244.52 $563.10 $0.00 $1,318.80 $235,126.42
216 $235,126.42 $563.10 $0.00 $1,329.44 $237,018.96
217 $237,018.96 $563.10 $66,018.38 $1,340.14 $172,903.82
218 $172,903.82 $563.10 $0.00 $977.62 $174,444.54
219 $174,444.54 $563.10 $0.00 $986.33 $175,993.97
220 $175,993.97 $563.10 $0.00 $995.10 $177,552.17
221 $177,552.17 $563.10 $0.00 $1,003.91 $179,119.18
222 $179,119.18 $563.10 $0.00 $1,012.77 $180,695.05
223 $180,695.05 $563.10 $0.00 $1,021.68 $182,279.83
224 $182,279.83 $563.10 $0.00 $1,030.64 $183,873.57
225 $183,873.57 $563.10 $0.00 $1,039.65 $185,476.32
226 $185,476.32 $563.10 $0.00 $1,048.71 $187,088.13
227 $187,088.13 $563.10 $0.00 $1,057.82 $188,709.05
228 $188,709.05 $563.10 $0.00 $1,066.99 $190,339.14
229 $190,339.14 $563.10 $69,319.30 $1,076.21 $122,659.15
230 $122,659.15 $563.10 $0.00 $693.53 $123,915.78
231 $123,915.78 $563.10 $0.00 $700.64 $125,179.52
232 $125,179.52 $563.10 $0.00 $707.78 $126,450.40
233 $126,450.40 $563.10 $0.00 $714.97 $127,728.47
234 $127,728.47 $563.10 $0.00 $722.20 $129,013.77
235 $129,013.77 $563.10 $0.00 $729.46 $130,306.33
236 $130,306.33 $563.10 $0.00 $736.77 $131,606.20
237 $131,606.20 $563.10 $0.00 $744.12 $132,913.42
238 $132,913.42 $563.10 $0.00 $751.51 $134,228.03
239 $134,228.03 $563.10 $0.00 $758.94 $135,550.07
240 $135,550.07 $563.10 $0.00 $766.42 $136,879.59
241 $136,879.59 $563.10 $72,785.26 $773.94 $65,431.37
242 $65,431.37 $563.10 $0.00 $369.96 $66,364.43
243 $66,364.43 $563.10 $0.00 $375.23 $67,302.76
244 $67,302.76 $563.10 $0.00 $380.54 $68,246.40
245 $68,246.40 $563.10 $0.00 $385.88 $69,195.38
246 $69,195.38 $563.10 $0.00 $391.24 $70,149.72
247 $70,149.72 $563.10 $0.00 $396.64 $71,109.46
248 $71,109.46 $563.10 $0.00 $402.06 $72,074.62
249 $72,074.62 $563.10 $0.00 $407.52 $73,045.24
250 $73,045.24 $563.10 $0.00 $413.01 $74,021.35
251 $74,021.35 $563.10 $0.00 $418.53 $75,002.98
252 $75,002.98 $563.10 $0.00 $424.08 $75,990.16
253 $75,990.16 $0.00 $76,424.53 $429.66 ($4.71)