Savings Plan and Future Cost Estimation for Hofstra University

How much will it cost and what do you need to save?

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$275,928
Monthly savings required$2,181

How much will it cost to send your child to Hofstra University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $1,103,713.26 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $2,180.72 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$73,548.00
Years until enrollment18
Annual Tuition Increase7%
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 $2,180.72 $0.00 $0.00 $2,180.72
2 $2,180.72 $2,180.72 $0.00 $12.33 $4,373.77
3 $4,373.77 $2,180.72 $0.00 $24.73 $6,579.22
4 $6,579.22 $2,180.72 $0.00 $37.20 $8,797.14
5 $8,797.14 $2,180.72 $0.00 $49.74 $11,027.60
6 $11,027.60 $2,180.72 $0.00 $62.35 $13,270.67
7 $13,270.67 $2,180.72 $0.00 $75.03 $15,526.42
8 $15,526.42 $2,180.72 $0.00 $87.79 $17,794.93
9 $17,794.93 $2,180.72 $0.00 $100.62 $20,076.27
10 $20,076.27 $2,180.72 $0.00 $113.51 $22,370.50
11 $22,370.50 $2,180.72 $0.00 $126.49 $24,677.71
12 $24,677.71 $2,180.72 $0.00 $139.53 $26,997.96
13 $26,997.96 $2,180.72 $0.00 $152.65 $29,331.33
14 $29,331.33 $2,180.72 $0.00 $165.84 $31,677.89
15 $31,677.89 $2,180.72 $0.00 $179.11 $34,037.72
16 $34,037.72 $2,180.72 $0.00 $192.45 $36,410.89
17 $36,410.89 $2,180.72 $0.00 $205.87 $38,797.48
18 $38,797.48 $2,180.72 $0.00 $219.37 $41,197.57
19 $41,197.57 $2,180.72 $0.00 $232.94 $43,611.23
20 $43,611.23 $2,180.72 $0.00 $246.58 $46,038.53
21 $46,038.53 $2,180.72 $0.00 $260.31 $48,479.56
22 $48,479.56 $2,180.72 $0.00 $274.11 $50,934.39
23 $50,934.39 $2,180.72 $0.00 $287.99 $53,403.10
24 $53,403.10 $2,180.72 $0.00 $301.95 $55,885.77
25 $55,885.77 $2,180.72 $0.00 $315.99 $58,382.48
26 $58,382.48 $2,180.72 $0.00 $330.10 $60,893.30
27 $60,893.30 $2,180.72 $0.00 $344.30 $63,418.32
28 $63,418.32 $2,180.72 $0.00 $358.58 $65,957.62
29 $65,957.62 $2,180.72 $0.00 $372.93 $68,511.27
30 $68,511.27 $2,180.72 $0.00 $387.37 $71,079.36
31 $71,079.36 $2,180.72 $0.00 $401.89 $73,661.97
32 $73,661.97 $2,180.72 $0.00 $416.50 $76,259.19
33 $76,259.19 $2,180.72 $0.00 $431.18 $78,871.09
34 $78,871.09 $2,180.72 $0.00 $445.95 $81,497.76
35 $81,497.76 $2,180.72 $0.00 $460.80 $84,139.28
36 $84,139.28 $2,180.72 $0.00 $475.74 $86,795.74
37 $86,795.74 $2,180.72 $0.00 $490.76 $89,467.22
38 $89,467.22 $2,180.72 $0.00 $505.86 $92,153.80
39 $92,153.80 $2,180.72 $0.00 $521.05 $94,855.57
40 $94,855.57 $2,180.72 $0.00 $536.33 $97,572.62
41 $97,572.62 $2,180.72 $0.00 $551.69 $100,305.03
42 $100,305.03 $2,180.72 $0.00 $567.14 $103,052.89
43 $103,052.89 $2,180.72 $0.00 $582.68 $105,816.29
44 $105,816.29 $2,180.72 $0.00 $598.30 $108,595.31
45 $108,595.31 $2,180.72 $0.00 $614.01 $111,390.04
46 $111,390.04 $2,180.72 $0.00 $629.82 $114,200.58
47 $114,200.58 $2,180.72 $0.00 $645.71 $117,027.01
48 $117,027.01 $2,180.72 $0.00 $661.69 $119,869.42
49 $119,869.42 $2,180.72 $0.00 $677.76 $122,727.90
50 $122,727.90 $2,180.72 $0.00 $693.92 $125,602.54
51 $125,602.54 $2,180.72 $0.00 $710.18 $128,493.44
52 $128,493.44 $2,180.72 $0.00 $726.52 $131,400.68
53 $131,400.68 $2,180.72 $0.00 $742.96 $134,324.36
54 $134,324.36 $2,180.72 $0.00 $759.49 $137,264.57
55 $137,264.57 $2,180.72 $0.00 $776.11 $140,221.40
56 $140,221.40 $2,180.72 $0.00 $792.83 $143,194.95
57 $143,194.95 $2,180.72 $0.00 $809.65 $146,185.32
58 $146,185.32 $2,180.72 $0.00 $826.55 $149,192.59
59 $149,192.59 $2,180.72 $0.00 $843.56 $152,216.87
60 $152,216.87 $2,180.72 $0.00 $860.66 $155,258.25
61 $155,258.25 $2,180.72 $0.00 $877.85 $158,316.82
62 $158,316.82 $2,180.72 $0.00 $895.15 $161,392.69
63 $161,392.69 $2,180.72 $0.00 $912.54 $164,485.95
64 $164,485.95 $2,180.72 $0.00 $930.03 $167,596.70
65 $167,596.70 $2,180.72 $0.00 $947.62 $170,725.04
66 $170,725.04 $2,180.72 $0.00 $965.30 $173,871.06
67 $173,871.06 $2,180.72 $0.00 $983.09 $177,034.87
68 $177,034.87 $2,180.72 $0.00 $1,000.98 $180,216.57
69 $180,216.57 $2,180.72 $0.00 $1,018.97 $183,416.26
70 $183,416.26 $2,180.72 $0.00 $1,037.06 $186,634.04
71 $186,634.04 $2,180.72 $0.00 $1,055.26 $189,870.02
72 $189,870.02 $2,180.72 $0.00 $1,073.55 $193,124.29
73 $193,124.29 $2,180.72 $0.00 $1,091.95 $196,396.96
74 $196,396.96 $2,180.72 $0.00 $1,110.46 $199,688.14
75 $199,688.14 $2,180.72 $0.00 $1,129.07 $202,997.93
76 $202,997.93 $2,180.72 $0.00 $1,147.78 $206,326.43
77 $206,326.43 $2,180.72 $0.00 $1,166.60 $209,673.75
78 $209,673.75 $2,180.72 $0.00 $1,185.53 $213,040.00
79 $213,040.00 $2,180.72 $0.00 $1,204.56 $216,425.28
80 $216,425.28 $2,180.72 $0.00 $1,223.70 $219,829.70
81 $219,829.70 $2,180.72 $0.00 $1,242.95 $223,253.37
82 $223,253.37 $2,180.72 $0.00 $1,262.31 $226,696.40
83 $226,696.40 $2,180.72 $0.00 $1,281.77 $230,158.89
84 $230,158.89 $2,180.72 $0.00 $1,301.35 $233,640.96
85 $233,640.96 $2,180.72 $0.00 $1,321.04 $237,142.72
86 $237,142.72 $2,180.72 $0.00 $1,340.84 $240,664.28
87 $240,664.28 $2,180.72 $0.00 $1,360.75 $244,205.75
88 $244,205.75 $2,180.72 $0.00 $1,380.77 $247,767.24
89 $247,767.24 $2,180.72 $0.00 $1,400.91 $251,348.87
90 $251,348.87 $2,180.72 $0.00 $1,421.16 $254,950.75
91 $254,950.75 $2,180.72 $0.00 $1,441.53 $258,573.00
92 $258,573.00 $2,180.72 $0.00 $1,462.01 $262,215.73
93 $262,215.73 $2,180.72 $0.00 $1,482.61 $265,879.06
94 $265,879.06 $2,180.72 $0.00 $1,503.32 $269,563.10
95 $269,563.10 $2,180.72 $0.00 $1,524.15 $273,267.97
96 $273,267.97 $2,180.72 $0.00 $1,545.10 $276,993.79
97 $276,993.79 $2,180.72 $0.00 $1,566.16 $280,740.67
98 $280,740.67 $2,180.72 $0.00 $1,587.35 $284,508.74
99 $284,508.74 $2,180.72 $0.00 $1,608.65 $288,298.11
100 $288,298.11 $2,180.72 $0.00 $1,630.08 $292,108.91
101 $292,108.91 $2,180.72 $0.00 $1,651.63 $295,941.26
102 $295,941.26 $2,180.72 $0.00 $1,673.29 $299,795.27
103 $299,795.27 $2,180.72 $0.00 $1,695.09 $303,671.08
104 $303,671.08 $2,180.72 $0.00 $1,717.00 $307,568.80
105 $307,568.80 $2,180.72 $0.00 $1,739.04 $311,488.56
106 $311,488.56 $2,180.72 $0.00 $1,761.20 $315,430.48
107 $315,430.48 $2,180.72 $0.00 $1,783.49 $319,394.69
108 $319,394.69 $2,180.72 $0.00 $1,805.90 $323,381.31
109 $323,381.31 $2,180.72 $0.00 $1,828.44 $327,390.47
110 $327,390.47 $2,180.72 $0.00 $1,851.11 $331,422.30
111 $331,422.30 $2,180.72 $0.00 $1,873.91 $335,476.93
112 $335,476.93 $2,180.72 $0.00 $1,896.84 $339,554.49
113 $339,554.49 $2,180.72 $0.00 $1,919.89 $343,655.10
114 $343,655.10 $2,180.72 $0.00 $1,943.08 $347,778.90
115 $347,778.90 $2,180.72 $0.00 $1,966.39 $351,926.01
116 $351,926.01 $2,180.72 $0.00 $1,989.84 $356,096.57
117 $356,096.57 $2,180.72 $0.00 $2,013.42 $360,290.71
118 $360,290.71 $2,180.72 $0.00 $2,037.14 $364,508.57
119 $364,508.57 $2,180.72 $0.00 $2,060.98 $368,750.27
120 $368,750.27 $2,180.72 $0.00 $2,084.97 $373,015.96
121 $373,015.96 $2,180.72 $0.00 $2,109.09 $377,305.77
122 $377,305.77 $2,180.72 $0.00 $2,133.34 $381,619.83
123 $381,619.83 $2,180.72 $0.00 $2,157.73 $385,958.28
124 $385,958.28 $2,180.72 $0.00 $2,182.26 $390,321.26
125 $390,321.26 $2,180.72 $0.00 $2,206.93 $394,708.91
126 $394,708.91 $2,180.72 $0.00 $2,231.74 $399,121.37
127 $399,121.37 $2,180.72 $0.00 $2,256.69 $403,558.78
128 $403,558.78 $2,180.72 $0.00 $2,281.78 $408,021.28
129 $408,021.28 $2,180.72 $0.00 $2,307.01 $412,509.01
130 $412,509.01 $2,180.72 $0.00 $2,332.39 $417,022.12
131 $417,022.12 $2,180.72 $0.00 $2,357.90 $421,560.74
132 $421,560.74 $2,180.72 $0.00 $2,383.57 $426,125.03
133 $426,125.03 $2,180.72 $0.00 $2,409.37 $430,715.12
134 $430,715.12 $2,180.72 $0.00 $2,435.33 $435,331.17
135 $435,331.17 $2,180.72 $0.00 $2,461.43 $439,973.32
136 $439,973.32 $2,180.72 $0.00 $2,487.67 $444,641.71
137 $444,641.71 $2,180.72 $0.00 $2,514.07 $449,336.50
138 $449,336.50 $2,180.72 $0.00 $2,540.61 $454,057.83
139 $454,057.83 $2,180.72 $0.00 $2,567.31 $458,805.86
140 $458,805.86 $2,180.72 $0.00 $2,594.16 $463,580.74
141 $463,580.74 $2,180.72 $0.00 $2,621.15 $468,382.61
142 $468,382.61 $2,180.72 $0.00 $2,648.30 $473,211.63
143 $473,211.63 $2,180.72 $0.00 $2,675.61 $478,067.96
144 $478,067.96 $2,180.72 $0.00 $2,703.07 $482,951.75
145 $482,951.75 $2,180.72 $0.00 $2,730.68 $487,863.15
146 $487,863.15 $2,180.72 $0.00 $2,758.45 $492,802.32
147 $492,802.32 $2,180.72 $0.00 $2,786.38 $497,769.42
148 $497,769.42 $2,180.72 $0.00 $2,814.46 $502,764.60
149 $502,764.60 $2,180.72 $0.00 $2,842.70 $507,788.02
150 $507,788.02 $2,180.72 $0.00 $2,871.11 $512,839.85
151 $512,839.85 $2,180.72 $0.00 $2,899.67 $517,920.24
152 $517,920.24 $2,180.72 $0.00 $2,928.40 $523,029.36
153 $523,029.36 $2,180.72 $0.00 $2,957.28 $528,167.36
154 $528,167.36 $2,180.72 $0.00 $2,986.34 $533,334.42
155 $533,334.42 $2,180.72 $0.00 $3,015.55 $538,530.69
156 $538,530.69 $2,180.72 $0.00 $3,044.93 $543,756.34
157 $543,756.34 $2,180.72 $0.00 $3,074.48 $549,011.54
158 $549,011.54 $2,180.72 $0.00 $3,104.19 $554,296.45
159 $554,296.45 $2,180.72 $0.00 $3,134.07 $559,611.24
160 $559,611.24 $2,180.72 $0.00 $3,164.12 $564,956.08
161 $564,956.08 $2,180.72 $0.00 $3,194.34 $570,331.14
162 $570,331.14 $2,180.72 $0.00 $3,224.74 $575,736.60
163 $575,736.60 $2,180.72 $0.00 $3,255.30 $581,172.62
164 $581,172.62 $2,180.72 $0.00 $3,286.03 $586,639.37
165 $586,639.37 $2,180.72 $0.00 $3,316.94 $592,137.03
166 $592,137.03 $2,180.72 $0.00 $3,348.03 $597,665.78
167 $597,665.78 $2,180.72 $0.00 $3,379.29 $603,225.79
168 $603,225.79 $2,180.72 $0.00 $3,410.73 $608,817.24
169 $608,817.24 $2,180.72 $0.00 $3,442.34 $614,440.30
170 $614,440.30 $2,180.72 $0.00 $3,474.13 $620,095.15
171 $620,095.15 $2,180.72 $0.00 $3,506.11 $625,781.98
172 $625,781.98 $2,180.72 $0.00 $3,538.26 $631,500.96
173 $631,500.96 $2,180.72 $0.00 $3,570.60 $637,252.28
174 $637,252.28 $2,180.72 $0.00 $3,603.12 $643,036.12
175 $643,036.12 $2,180.72 $0.00 $3,635.82 $648,852.66
176 $648,852.66 $2,180.72 $0.00 $3,668.71 $654,702.09
177 $654,702.09 $2,180.72 $0.00 $3,701.78 $660,584.59
178 $660,584.59 $2,180.72 $0.00 $3,735.04 $666,500.35
179 $666,500.35 $2,180.72 $0.00 $3,768.49 $672,449.56
180 $672,449.56 $2,180.72 $0.00 $3,802.13 $678,432.41
181 $678,432.41 $2,180.72 $0.00 $3,835.96 $684,449.09
182 $684,449.09 $2,180.72 $0.00 $3,869.97 $690,499.78
183 $690,499.78 $2,180.72 $0.00 $3,904.19 $696,584.69
184 $696,584.69 $2,180.72 $0.00 $3,938.59 $702,704.00
185 $702,704.00 $2,180.72 $0.00 $3,973.19 $708,857.91
186 $708,857.91 $2,180.72 $0.00 $4,007.99 $715,046.62
187 $715,046.62 $2,180.72 $0.00 $4,042.98 $721,270.32
188 $721,270.32 $2,180.72 $0.00 $4,078.17 $727,529.21
189 $727,529.21 $2,180.72 $0.00 $4,113.56 $733,823.49
190 $733,823.49 $2,180.72 $0.00 $4,149.14 $740,153.35
191 $740,153.35 $2,180.72 $0.00 $4,184.93 $746,519.00
192 $746,519.00 $2,180.72 $0.00 $4,220.93 $752,920.65
193 $752,920.65 $2,180.72 $0.00 $4,257.12 $759,358.49
194 $759,358.49 $2,180.72 $0.00 $4,293.52 $765,832.73
195 $765,832.73 $2,180.72 $0.00 $4,330.13 $772,343.58
196 $772,343.58 $2,180.72 $0.00 $4,366.94 $778,891.24
197 $778,891.24 $2,180.72 $0.00 $4,403.96 $785,475.92
198 $785,475.92 $2,180.72 $0.00 $4,441.20 $792,097.84
199 $792,097.84 $2,180.72 $0.00 $4,478.64 $798,757.20
200 $798,757.20 $2,180.72 $0.00 $4,516.29 $805,454.21
201 $805,454.21 $2,180.72 $0.00 $4,554.16 $812,189.09
202 $812,189.09 $2,180.72 $0.00 $4,592.24 $818,962.05
203 $818,962.05 $2,180.72 $0.00 $4,630.53 $825,773.30
204 $825,773.30 $2,180.72 $0.00 $4,669.04 $832,623.06
205 $832,623.06 $2,180.72 $0.00 $4,707.77 $839,511.55
206 $839,511.55 $2,180.72 $0.00 $4,746.72 $846,438.99
207 $846,438.99 $2,180.72 $0.00 $4,785.89 $853,405.60
208 $853,405.60 $2,180.72 $0.00 $4,825.28 $860,411.60
209 $860,411.60 $2,180.72 $0.00 $4,864.89 $867,457.21
210 $867,457.21 $2,180.72 $0.00 $4,904.73 $874,542.66
211 $874,542.66 $2,180.72 $0.00 $4,944.79 $881,668.17
212 $881,668.17 $2,180.72 $0.00 $4,985.08 $888,833.97
213 $888,833.97 $2,180.72 $0.00 $5,025.60 $896,040.29
214 $896,040.29 $2,180.72 $0.00 $5,066.34 $903,287.35
215 $903,287.35 $2,180.72 $0.00 $5,107.32 $910,575.39
216 $910,575.39 $2,180.72 $0.00 $5,148.53 $917,904.64
217 $917,904.64 $2,180.72 $248,587.26 $5,189.97 $676,688.07
218 $676,688.07 $2,180.72 $0.00 $3,826.09 $682,694.88
219 $682,694.88 $2,180.72 $0.00 $3,860.06 $688,735.66
220 $688,735.66 $2,180.72 $0.00 $3,894.21 $694,810.59
221 $694,810.59 $2,180.72 $0.00 $3,928.56 $700,919.87
222 $700,919.87 $2,180.72 $0.00 $3,963.10 $707,063.69
223 $707,063.69 $2,180.72 $0.00 $3,997.84 $713,242.25
224 $713,242.25 $2,180.72 $0.00 $4,032.78 $719,455.75
225 $719,455.75 $2,180.72 $0.00 $4,067.91 $725,704.38
226 $725,704.38 $2,180.72 $0.00 $4,103.24 $731,988.34
227 $731,988.34 $2,180.72 $0.00 $4,138.77 $738,307.83
228 $738,307.83 $2,180.72 $0.00 $4,174.50 $744,663.05
229 $744,663.05 $2,180.72 $265,988.37 $4,210.43 $485,065.83
230 $485,065.83 $2,180.72 $0.00 $2,742.63 $489,989.18
231 $489,989.18 $2,180.72 $0.00 $2,770.47 $494,940.37
232 $494,940.37 $2,180.72 $0.00 $2,798.46 $499,919.55
233 $499,919.55 $2,180.72 $0.00 $2,826.62 $504,926.89
234 $504,926.89 $2,180.72 $0.00 $2,854.93 $509,962.54
235 $509,962.54 $2,180.72 $0.00 $2,883.40 $515,026.66
236 $515,026.66 $2,180.72 $0.00 $2,912.04 $520,119.42
237 $520,119.42 $2,180.72 $0.00 $2,940.83 $525,240.97
238 $525,240.97 $2,180.72 $0.00 $2,969.79 $530,391.48
239 $530,391.48 $2,180.72 $0.00 $2,998.91 $535,571.11
240 $535,571.11 $2,180.72 $0.00 $3,028.20 $540,780.03
241 $540,780.03 $2,180.72 $284,607.55 $3,057.65 $261,410.85
242 $261,410.85 $2,180.72 $0.00 $1,478.05 $265,069.62
243 $265,069.62 $2,180.72 $0.00 $1,498.74 $268,749.08
244 $268,749.08 $2,180.72 $0.00 $1,519.55 $272,449.35
245 $272,449.35 $2,180.72 $0.00 $1,540.47 $276,170.54
246 $276,170.54 $2,180.72 $0.00 $1,561.51 $279,912.77
247 $279,912.77 $2,180.72 $0.00 $1,582.67 $283,676.16
248 $283,676.16 $2,180.72 $0.00 $1,603.95 $287,460.83
249 $287,460.83 $2,180.72 $0.00 $1,625.35 $291,266.90
250 $291,266.90 $2,180.72 $0.00 $1,646.87 $295,094.49
251 $295,094.49 $2,180.72 $0.00 $1,668.51 $298,943.72
252 $298,943.72 $2,180.72 $0.00 $1,690.27 $302,814.71
253 $302,814.71 $0.00 $304,530.08 $1,712.16 -$3.21