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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$74,640
Monthly savings required$591

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 $298,561.16 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $590.85 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$28,783.00
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 $590.85 $0.00 $0.00 $590.85
2 $590.85 $590.85 $0.00 $3.34 $1,185.04
3 $1,185.04 $590.85 $0.00 $6.70 $1,782.59
4 $1,782.59 $590.85 $0.00 $10.08 $2,383.52
5 $2,383.52 $590.85 $0.00 $13.48 $2,987.85
6 $2,987.85 $590.85 $0.00 $16.89 $3,595.59
7 $3,595.59 $590.85 $0.00 $20.33 $4,206.77
8 $4,206.77 $590.85 $0.00 $23.79 $4,821.41
9 $4,821.41 $590.85 $0.00 $27.26 $5,439.52
10 $5,439.52 $590.85 $0.00 $30.76 $6,061.13
11 $6,061.13 $590.85 $0.00 $34.27 $6,686.25
12 $6,686.25 $590.85 $0.00 $37.81 $7,314.91
13 $7,314.91 $590.85 $0.00 $41.36 $7,947.12
14 $7,947.12 $590.85 $0.00 $44.93 $8,582.90
15 $8,582.90 $590.85 $0.00 $48.53 $9,222.28
16 $9,222.28 $590.85 $0.00 $52.14 $9,865.27
17 $9,865.27 $590.85 $0.00 $55.78 $10,511.90
18 $10,511.90 $590.85 $0.00 $59.44 $11,162.19
19 $11,162.19 $590.85 $0.00 $63.11 $11,816.15
20 $11,816.15 $590.85 $0.00 $66.81 $12,473.81
21 $12,473.81 $590.85 $0.00 $70.53 $13,135.19
22 $13,135.19 $590.85 $0.00 $74.27 $13,800.31
23 $13,800.31 $590.85 $0.00 $78.03 $14,469.19
24 $14,469.19 $590.85 $0.00 $81.81 $15,141.85
25 $15,141.85 $590.85 $0.00 $85.61 $15,818.31
26 $15,818.31 $590.85 $0.00 $89.44 $16,498.60
27 $16,498.60 $590.85 $0.00 $93.29 $17,182.74
28 $17,182.74 $590.85 $0.00 $97.15 $17,870.74
29 $17,870.74 $590.85 $0.00 $101.04 $18,562.63
30 $18,562.63 $590.85 $0.00 $104.96 $19,258.44
31 $19,258.44 $590.85 $0.00 $108.89 $19,958.18
32 $19,958.18 $590.85 $0.00 $112.85 $20,661.88
33 $20,661.88 $590.85 $0.00 $116.83 $21,369.56
34 $21,369.56 $590.85 $0.00 $120.83 $22,081.24
35 $22,081.24 $590.85 $0.00 $124.85 $22,796.94
36 $22,796.94 $590.85 $0.00 $128.90 $23,516.69
37 $23,516.69 $590.85 $0.00 $132.97 $24,240.51
38 $24,240.51 $590.85 $0.00 $137.06 $24,968.42
39 $24,968.42 $590.85 $0.00 $141.18 $25,700.45
40 $25,700.45 $590.85 $0.00 $145.31 $26,436.61
41 $26,436.61 $590.85 $0.00 $149.48 $27,176.94
42 $27,176.94 $590.85 $0.00 $153.66 $27,921.45
43 $27,921.45 $590.85 $0.00 $157.87 $28,670.17
44 $28,670.17 $590.85 $0.00 $162.11 $29,423.13
45 $29,423.13 $590.85 $0.00 $166.36 $30,180.34
46 $30,180.34 $590.85 $0.00 $170.64 $30,941.83
47 $30,941.83 $590.85 $0.00 $174.95 $31,707.63
48 $31,707.63 $590.85 $0.00 $179.28 $32,477.76
49 $32,477.76 $590.85 $0.00 $183.63 $33,252.24
50 $33,252.24 $590.85 $0.00 $188.01 $34,031.10
51 $34,031.10 $590.85 $0.00 $192.42 $34,814.37
52 $34,814.37 $590.85 $0.00 $196.85 $35,602.07
53 $35,602.07 $590.85 $0.00 $201.30 $36,394.22
54 $36,394.22 $590.85 $0.00 $205.78 $37,190.85
55 $37,190.85 $590.85 $0.00 $210.28 $37,991.98
56 $37,991.98 $590.85 $0.00 $214.81 $38,797.64
57 $38,797.64 $590.85 $0.00 $219.37 $39,607.86
58 $39,607.86 $590.85 $0.00 $223.95 $40,422.66
59 $40,422.66 $590.85 $0.00 $228.56 $41,242.07
60 $41,242.07 $590.85 $0.00 $233.19 $42,066.11
61 $42,066.11 $590.85 $0.00 $237.85 $42,894.81
62 $42,894.81 $590.85 $0.00 $242.53 $43,728.19
63 $43,728.19 $590.85 $0.00 $247.25 $44,566.29
64 $44,566.29 $590.85 $0.00 $251.98 $45,409.12
65 $45,409.12 $590.85 $0.00 $256.75 $46,256.72
66 $46,256.72 $590.85 $0.00 $261.54 $47,109.11
67 $47,109.11 $590.85 $0.00 $266.36 $47,966.32
68 $47,966.32 $590.85 $0.00 $271.21 $48,828.38
69 $48,828.38 $590.85 $0.00 $276.08 $49,695.31
70 $49,695.31 $590.85 $0.00 $280.98 $50,567.14
71 $50,567.14 $590.85 $0.00 $285.91 $51,443.90
72 $51,443.90 $590.85 $0.00 $290.87 $52,325.62
73 $52,325.62 $590.85 $0.00 $295.86 $53,212.33
74 $53,212.33 $590.85 $0.00 $300.87 $54,104.05
75 $54,104.05 $590.85 $0.00 $305.91 $55,000.81
76 $55,000.81 $590.85 $0.00 $310.98 $55,902.64
77 $55,902.64 $590.85 $0.00 $316.08 $56,809.57
78 $56,809.57 $590.85 $0.00 $321.21 $57,721.63
79 $57,721.63 $590.85 $0.00 $326.37 $58,638.85
80 $58,638.85 $590.85 $0.00 $331.55 $59,561.25
81 $59,561.25 $590.85 $0.00 $336.77 $60,488.87
82 $60,488.87 $590.85 $0.00 $342.01 $61,421.73
83 $61,421.73 $590.85 $0.00 $347.29 $62,359.87
84 $62,359.87 $590.85 $0.00 $352.59 $63,303.31
85 $63,303.31 $590.85 $0.00 $357.93 $64,252.09
86 $64,252.09 $590.85 $0.00 $363.29 $65,206.23
87 $65,206.23 $590.85 $0.00 $368.69 $66,165.77
88 $66,165.77 $590.85 $0.00 $374.11 $67,130.73
89 $67,130.73 $590.85 $0.00 $379.57 $68,101.15
90 $68,101.15 $590.85 $0.00 $385.05 $69,077.05
91 $69,077.05 $590.85 $0.00 $390.57 $70,058.47
92 $70,058.47 $590.85 $0.00 $396.12 $71,045.44
93 $71,045.44 $590.85 $0.00 $401.70 $72,037.99
94 $72,037.99 $590.85 $0.00 $407.31 $73,036.15
95 $73,036.15 $590.85 $0.00 $412.96 $74,039.96
96 $74,039.96 $590.85 $0.00 $418.63 $75,049.44
97 $75,049.44 $590.85 $0.00 $424.34 $76,064.63
98 $76,064.63 $590.85 $0.00 $430.08 $77,085.56
99 $77,085.56 $590.85 $0.00 $435.85 $78,112.26
100 $78,112.26 $590.85 $0.00 $441.66 $79,144.77
101 $79,144.77 $590.85 $0.00 $447.50 $80,183.12
102 $80,183.12 $590.85 $0.00 $453.37 $81,227.34
103 $81,227.34 $590.85 $0.00 $459.27 $82,277.46
104 $82,277.46 $590.85 $0.00 $465.21 $83,333.52
105 $83,333.52 $590.85 $0.00 $471.18 $84,395.55
106 $84,395.55 $590.85 $0.00 $477.18 $85,463.58
107 $85,463.58 $590.85 $0.00 $483.22 $86,537.65
108 $86,537.65 $590.85 $0.00 $489.30 $87,617.80
109 $87,617.80 $590.85 $0.00 $495.40 $88,704.05
110 $88,704.05 $590.85 $0.00 $501.55 $89,796.45
111 $89,796.45 $590.85 $0.00 $507.72 $90,895.02
112 $90,895.02 $590.85 $0.00 $513.93 $91,999.80
113 $91,999.80 $590.85 $0.00 $520.18 $93,110.83
114 $93,110.83 $590.85 $0.00 $526.46 $94,228.14
115 $94,228.14 $590.85 $0.00 $532.78 $95,351.77
116 $95,351.77 $590.85 $0.00 $539.13 $96,481.75
117 $96,481.75 $590.85 $0.00 $545.52 $97,618.12
118 $97,618.12 $590.85 $0.00 $551.95 $98,760.92
119 $98,760.92 $590.85 $0.00 $558.41 $99,910.18
120 $99,910.18 $590.85 $0.00 $564.91 $101,065.94
121 $101,065.94 $590.85 $0.00 $571.44 $102,228.23
122 $102,228.23 $590.85 $0.00 $578.01 $103,397.09
123 $103,397.09 $590.85 $0.00 $584.62 $104,572.56
124 $104,572.56 $590.85 $0.00 $591.27 $105,754.68
125 $105,754.68 $590.85 $0.00 $597.95 $106,943.48
126 $106,943.48 $590.85 $0.00 $604.67 $108,139.00
127 $108,139.00 $590.85 $0.00 $611.43 $109,341.28
128 $109,341.28 $590.85 $0.00 $618.23 $110,550.36
129 $110,550.36 $590.85 $0.00 $625.07 $111,766.28
130 $111,766.28 $590.85 $0.00 $631.94 $112,989.07
131 $112,989.07 $590.85 $0.00 $638.86 $114,218.78
132 $114,218.78 $590.85 $0.00 $645.81 $115,455.44
133 $115,455.44 $590.85 $0.00 $652.80 $116,699.09
134 $116,699.09 $590.85 $0.00 $659.83 $117,949.77
135 $117,949.77 $590.85 $0.00 $666.91 $119,207.53
136 $119,207.53 $590.85 $0.00 $674.02 $120,472.40
137 $120,472.40 $590.85 $0.00 $681.17 $121,744.42
138 $121,744.42 $590.85 $0.00 $688.36 $123,023.63
139 $123,023.63 $590.85 $0.00 $695.59 $124,310.07
140 $124,310.07 $590.85 $0.00 $702.87 $125,603.79
141 $125,603.79 $590.85 $0.00 $710.18 $126,904.82
142 $126,904.82 $590.85 $0.00 $717.54 $128,213.21
143 $128,213.21 $590.85 $0.00 $724.94 $129,529.00
144 $129,529.00 $590.85 $0.00 $732.38 $130,852.23
145 $130,852.23 $590.85 $0.00 $739.86 $132,182.94
146 $132,182.94 $590.85 $0.00 $747.38 $133,521.17
147 $133,521.17 $590.85 $0.00 $754.95 $134,866.97
148 $134,866.97 $590.85 $0.00 $762.56 $136,220.38
149 $136,220.38 $590.85 $0.00 $770.21 $137,581.44
150 $137,581.44 $590.85 $0.00 $777.91 $138,950.20
151 $138,950.20 $590.85 $0.00 $785.64 $140,326.69
152 $140,326.69 $590.85 $0.00 $793.43 $141,710.97
153 $141,710.97 $590.85 $0.00 $801.25 $143,103.07
154 $143,103.07 $590.85 $0.00 $809.13 $144,503.05
155 $144,503.05 $590.85 $0.00 $817.04 $145,910.94
156 $145,910.94 $590.85 $0.00 $825.00 $147,326.79
157 $147,326.79 $590.85 $0.00 $833.01 $148,750.65
158 $148,750.65 $590.85 $0.00 $841.06 $150,182.56
159 $150,182.56 $590.85 $0.00 $849.15 $151,622.56
160 $151,622.56 $590.85 $0.00 $857.30 $153,070.71
161 $153,070.71 $590.85 $0.00 $865.48 $154,527.04
162 $154,527.04 $590.85 $0.00 $873.72 $155,991.61
163 $155,991.61 $590.85 $0.00 $882.00 $157,464.46
164 $157,464.46 $590.85 $0.00 $890.33 $158,945.64
165 $158,945.64 $590.85 $0.00 $898.70 $160,435.19
166 $160,435.19 $590.85 $0.00 $907.12 $161,933.16
167 $161,933.16 $590.85 $0.00 $915.59 $163,439.60
168 $163,439.60 $590.85 $0.00 $924.11 $164,954.56
169 $164,954.56 $590.85 $0.00 $932.68 $166,478.09
170 $166,478.09 $590.85 $0.00 $941.29 $168,010.23
171 $168,010.23 $590.85 $0.00 $949.95 $169,551.03
172 $169,551.03 $590.85 $0.00 $958.67 $171,100.55
173 $171,100.55 $590.85 $0.00 $967.43 $172,658.83
174 $172,658.83 $590.85 $0.00 $976.24 $174,225.92
175 $174,225.92 $590.85 $0.00 $985.10 $175,801.87
176 $175,801.87 $590.85 $0.00 $994.01 $177,386.73
177 $177,386.73 $590.85 $0.00 $1,002.97 $178,980.55
178 $178,980.55 $590.85 $0.00 $1,011.98 $180,583.38
179 $180,583.38 $590.85 $0.00 $1,021.04 $182,195.27
180 $182,195.27 $590.85 $0.00 $1,030.16 $183,816.28
181 $183,816.28 $590.85 $0.00 $1,039.32 $185,446.45
182 $185,446.45 $590.85 $0.00 $1,048.54 $187,085.84
183 $187,085.84 $590.85 $0.00 $1,057.81 $188,734.50
184 $188,734.50 $590.85 $0.00 $1,067.13 $190,392.48
185 $190,392.48 $590.85 $0.00 $1,076.51 $192,059.84
186 $192,059.84 $590.85 $0.00 $1,085.93 $193,736.62
187 $193,736.62 $590.85 $0.00 $1,095.42 $195,422.89
188 $195,422.89 $590.85 $0.00 $1,104.95 $197,118.69
189 $197,118.69 $590.85 $0.00 $1,114.54 $198,824.08
190 $198,824.08 $590.85 $0.00 $1,124.18 $200,539.11
191 $200,539.11 $590.85 $0.00 $1,133.88 $202,263.84
192 $202,263.84 $590.85 $0.00 $1,143.63 $203,998.32
193 $203,998.32 $590.85 $0.00 $1,153.44 $205,742.61
194 $205,742.61 $590.85 $0.00 $1,163.30 $207,496.76
195 $207,496.76 $590.85 $0.00 $1,173.22 $209,260.83
196 $209,260.83 $590.85 $0.00 $1,183.19 $211,034.87
197 $211,034.87 $590.85 $0.00 $1,193.22 $212,818.94
198 $212,818.94 $590.85 $0.00 $1,203.31 $214,613.10
199 $214,613.10 $590.85 $0.00 $1,213.45 $216,417.40
200 $216,417.40 $590.85 $0.00 $1,223.66 $218,231.91
201 $218,231.91 $590.85 $0.00 $1,233.91 $220,056.67
202 $220,056.67 $590.85 $0.00 $1,244.23 $221,891.75
203 $221,891.75 $590.85 $0.00 $1,254.61 $223,737.21
204 $223,737.21 $590.85 $0.00 $1,265.04 $225,593.10
205 $225,593.10 $590.85 $0.00 $1,275.54 $227,459.49
206 $227,459.49 $590.85 $0.00 $1,286.09 $229,336.43
207 $229,336.43 $590.85 $0.00 $1,296.70 $231,223.98
208 $231,223.98 $590.85 $0.00 $1,307.37 $233,122.20
209 $233,122.20 $590.85 $0.00 $1,318.11 $235,031.16
210 $235,031.16 $590.85 $0.00 $1,328.90 $236,950.91
211 $236,950.91 $590.85 $0.00 $1,339.75 $238,881.51
212 $238,881.51 $590.85 $0.00 $1,350.67 $240,823.03
213 $240,823.03 $590.85 $0.00 $1,361.65 $242,775.53
214 $242,775.53 $590.85 $0.00 $1,372.69 $244,739.07
215 $244,739.07 $590.85 $0.00 $1,383.79 $246,713.71
216 $246,713.71 $590.85 $0.00 $1,394.96 $248,699.52
217 $248,699.52 $590.85 $69,269.72 $1,406.18 $181,426.83
218 $181,426.83 $590.85 $0.00 $1,025.81 $183,043.49
219 $183,043.49 $590.85 $0.00 $1,034.95 $184,669.29
220 $184,669.29 $590.85 $0.00 $1,044.15 $186,304.29
221 $186,304.29 $590.85 $0.00 $1,053.39 $187,948.53
222 $187,948.53 $590.85 $0.00 $1,062.69 $189,602.07
223 $189,602.07 $590.85 $0.00 $1,072.04 $191,264.96
224 $191,264.96 $590.85 $0.00 $1,081.44 $192,937.25
225 $192,937.25 $590.85 $0.00 $1,090.90 $194,619.00
226 $194,619.00 $590.85 $0.00 $1,100.40 $196,310.25
227 $196,310.25 $590.85 $0.00 $1,109.97 $198,011.07
228 $198,011.07 $590.85 $0.00 $1,119.58 $199,721.50
229 $199,721.50 $590.85 $72,733.21 $1,129.25 $128,708.39
230 $128,708.39 $590.85 $0.00 $727.74 $130,026.98
231 $130,026.98 $590.85 $0.00 $735.19 $131,353.02
232 $131,353.02 $590.85 $0.00 $742.69 $132,686.56
233 $132,686.56 $590.85 $0.00 $750.23 $134,027.64
234 $134,027.64 $590.85 $0.00 $757.81 $135,376.30
235 $135,376.30 $590.85 $0.00 $765.44 $136,732.59
236 $136,732.59 $590.85 $0.00 $773.11 $138,096.55
237 $138,096.55 $590.85 $0.00 $780.82 $139,468.22
238 $139,468.22 $590.85 $0.00 $788.57 $140,847.64
239 $140,847.64 $590.85 $0.00 $796.37 $142,234.86
240 $142,234.86 $590.85 $0.00 $804.22 $143,629.93
241 $143,629.93 $590.85 $76,369.87 $812.10 $68,663.01
242 $68,663.01 $590.85 $0.00 $388.23 $69,642.09
243 $69,642.09 $590.85 $0.00 $393.77 $70,626.71
244 $70,626.71 $590.85 $0.00 $399.33 $71,616.89
245 $71,616.89 $590.85 $0.00 $404.93 $72,612.67
246 $72,612.67 $590.85 $0.00 $410.56 $73,614.08
247 $73,614.08 $590.85 $0.00 $416.22 $74,621.15
248 $74,621.15 $590.85 $0.00 $421.92 $75,633.92
249 $75,633.92 $590.85 $0.00 $427.65 $76,652.42
250 $76,652.42 $590.85 $0.00 $433.40 $77,676.67
251 $77,676.67 $590.85 $0.00 $439.20 $78,706.72
252 $78,706.72 $590.85 $0.00 $445.02 $79,742.59
253 $79,742.59 $0.00 $80,188.36 $450.88 $5.11