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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$62,582
Monthly savings required$495

How much will it cost to send your child to SUNY College at Old Westbury in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $250,327.50 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $495.39 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$24,133.00
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 $495.39 $0.00 $0.00 $495.39
2 $495.39 $495.39 $0.00 $2.80 $993.58
3 $993.58 $495.39 $0.00 $5.62 $1,494.59
4 $1,494.59 $495.39 $0.00 $8.45 $1,998.43
5 $1,998.43 $495.39 $0.00 $11.30 $2,505.12
6 $2,505.12 $495.39 $0.00 $14.16 $3,014.67
7 $3,014.67 $495.39 $0.00 $17.05 $3,527.11
8 $3,527.11 $495.39 $0.00 $19.94 $4,042.44
9 $4,042.44 $495.39 $0.00 $22.86 $4,560.69
10 $4,560.69 $495.39 $0.00 $25.79 $5,081.87
11 $5,081.87 $495.39 $0.00 $28.73 $5,605.99
12 $5,605.99 $495.39 $0.00 $31.70 $6,133.08
13 $6,133.08 $495.39 $0.00 $34.68 $6,663.15
14 $6,663.15 $495.39 $0.00 $37.67 $7,196.21
15 $7,196.21 $495.39 $0.00 $40.69 $7,732.29
16 $7,732.29 $495.39 $0.00 $43.72 $8,271.40
17 $8,271.40 $495.39 $0.00 $46.77 $8,813.56
18 $8,813.56 $495.39 $0.00 $49.83 $9,358.78
19 $9,358.78 $495.39 $0.00 $52.92 $9,907.09
20 $9,907.09 $495.39 $0.00 $56.02 $10,458.50
21 $10,458.50 $495.39 $0.00 $59.13 $11,013.02
22 $11,013.02 $495.39 $0.00 $62.27 $11,570.68
23 $11,570.68 $495.39 $0.00 $65.42 $12,131.49
24 $12,131.49 $495.39 $0.00 $68.59 $12,695.47
25 $12,695.47 $495.39 $0.00 $71.78 $13,262.64
26 $13,262.64 $495.39 $0.00 $74.99 $13,833.02
27 $13,833.02 $495.39 $0.00 $78.21 $14,406.62
28 $14,406.62 $495.39 $0.00 $81.46 $14,983.47
29 $14,983.47 $495.39 $0.00 $84.72 $15,563.58
30 $15,563.58 $495.39 $0.00 $88.00 $16,146.97
31 $16,146.97 $495.39 $0.00 $91.30 $16,733.66
32 $16,733.66 $495.39 $0.00 $94.61 $17,323.66
33 $17,323.66 $495.39 $0.00 $97.95 $17,917.00
34 $17,917.00 $495.39 $0.00 $101.31 $18,513.70
35 $18,513.70 $495.39 $0.00 $104.68 $19,113.77
36 $19,113.77 $495.39 $0.00 $108.07 $19,717.23
37 $19,717.23 $495.39 $0.00 $111.48 $20,324.10
38 $20,324.10 $495.39 $0.00 $114.92 $20,934.41
39 $20,934.41 $495.39 $0.00 $118.37 $21,548.17
40 $21,548.17 $495.39 $0.00 $121.84 $22,165.40
41 $22,165.40 $495.39 $0.00 $125.33 $22,786.12
42 $22,786.12 $495.39 $0.00 $128.84 $23,410.35
43 $23,410.35 $495.39 $0.00 $132.37 $24,038.11
44 $24,038.11 $495.39 $0.00 $135.91 $24,669.41
45 $24,669.41 $495.39 $0.00 $139.48 $25,304.28
46 $25,304.28 $495.39 $0.00 $143.07 $25,942.74
47 $25,942.74 $495.39 $0.00 $146.68 $26,584.81
48 $26,584.81 $495.39 $0.00 $150.31 $27,230.51
49 $27,230.51 $495.39 $0.00 $153.97 $27,879.87
50 $27,879.87 $495.39 $0.00 $157.64 $28,532.90
51 $28,532.90 $495.39 $0.00 $161.33 $29,189.62
52 $29,189.62 $495.39 $0.00 $165.04 $29,850.05
53 $29,850.05 $495.39 $0.00 $168.78 $30,514.22
54 $30,514.22 $495.39 $0.00 $172.53 $31,182.14
55 $31,182.14 $495.39 $0.00 $176.31 $31,853.84
56 $31,853.84 $495.39 $0.00 $180.11 $32,529.34
57 $32,529.34 $495.39 $0.00 $183.93 $33,208.66
58 $33,208.66 $495.39 $0.00 $187.77 $33,891.82
59 $33,891.82 $495.39 $0.00 $191.63 $34,578.84
60 $34,578.84 $495.39 $0.00 $195.51 $35,269.74
61 $35,269.74 $495.39 $0.00 $199.42 $35,964.55
62 $35,964.55 $495.39 $0.00 $203.35 $36,663.29
63 $36,663.29 $495.39 $0.00 $207.30 $37,365.98
64 $37,365.98 $495.39 $0.00 $211.27 $38,072.64
65 $38,072.64 $495.39 $0.00 $215.27 $38,783.30
66 $38,783.30 $495.39 $0.00 $219.29 $39,497.98
67 $39,497.98 $495.39 $0.00 $223.33 $40,216.70
68 $40,216.70 $495.39 $0.00 $227.39 $40,939.48
69 $40,939.48 $495.39 $0.00 $231.48 $41,666.35
70 $41,666.35 $495.39 $0.00 $235.59 $42,397.33
71 $42,397.33 $495.39 $0.00 $239.72 $43,132.44
72 $43,132.44 $495.39 $0.00 $243.88 $43,871.71
73 $43,871.71 $495.39 $0.00 $248.06 $44,615.16
74 $44,615.16 $495.39 $0.00 $252.26 $45,362.81
75 $45,362.81 $495.39 $0.00 $256.49 $46,114.69
76 $46,114.69 $495.39 $0.00 $260.74 $46,870.82
77 $46,870.82 $495.39 $0.00 $265.01 $47,631.22
78 $47,631.22 $495.39 $0.00 $269.31 $48,395.92
79 $48,395.92 $495.39 $0.00 $273.64 $49,164.95
80 $49,164.95 $495.39 $0.00 $277.99 $49,938.33
81 $49,938.33 $495.39 $0.00 $282.36 $50,716.08
82 $50,716.08 $495.39 $0.00 $286.76 $51,498.23
83 $51,498.23 $495.39 $0.00 $291.18 $52,284.80
84 $52,284.80 $495.39 $0.00 $295.63 $53,075.82
85 $53,075.82 $495.39 $0.00 $300.10 $53,871.31
86 $53,871.31 $495.39 $0.00 $304.60 $54,671.30
87 $54,671.30 $495.39 $0.00 $309.12 $55,475.81
88 $55,475.81 $495.39 $0.00 $313.67 $56,284.87
89 $56,284.87 $495.39 $0.00 $318.24 $57,098.50
90 $57,098.50 $495.39 $0.00 $322.84 $57,916.73
91 $57,916.73 $495.39 $0.00 $327.47 $58,739.59
92 $58,739.59 $495.39 $0.00 $332.12 $59,567.10
93 $59,567.10 $495.39 $0.00 $336.80 $60,399.29
94 $60,399.29 $495.39 $0.00 $341.51 $61,236.19
95 $61,236.19 $495.39 $0.00 $346.24 $62,077.82
96 $62,077.82 $495.39 $0.00 $351.00 $62,924.21
97 $62,924.21 $495.39 $0.00 $355.78 $63,775.38
98 $63,775.38 $495.39 $0.00 $360.60 $64,631.37
99 $64,631.37 $495.39 $0.00 $365.44 $65,492.20
100 $65,492.20 $495.39 $0.00 $370.30 $66,357.89
101 $66,357.89 $495.39 $0.00 $375.20 $67,228.48
102 $67,228.48 $495.39 $0.00 $380.12 $68,103.99
103 $68,103.99 $495.39 $0.00 $385.07 $68,984.45
104 $68,984.45 $495.39 $0.00 $390.05 $69,869.89
105 $69,869.89 $495.39 $0.00 $395.05 $70,760.33
106 $70,760.33 $495.39 $0.00 $400.09 $71,655.81
107 $71,655.81 $495.39 $0.00 $405.15 $72,556.35
108 $72,556.35 $495.39 $0.00 $410.24 $73,461.98
109 $73,461.98 $495.39 $0.00 $415.36 $74,372.73
110 $74,372.73 $495.39 $0.00 $420.51 $75,288.63
111 $75,288.63 $495.39 $0.00 $425.69 $76,209.71
112 $76,209.71 $495.39 $0.00 $430.90 $77,136.00
113 $77,136.00 $495.39 $0.00 $436.14 $78,067.53
114 $78,067.53 $495.39 $0.00 $441.41 $79,004.33
115 $79,004.33 $495.39 $0.00 $446.70 $79,946.42
116 $79,946.42 $495.39 $0.00 $452.03 $80,893.84
117 $80,893.84 $495.39 $0.00 $457.39 $81,846.62
118 $81,846.62 $495.39 $0.00 $462.77 $82,804.78
119 $82,804.78 $495.39 $0.00 $468.19 $83,768.36
120 $83,768.36 $495.39 $0.00 $473.64 $84,737.39
121 $84,737.39 $495.39 $0.00 $479.12 $85,711.90
122 $85,711.90 $495.39 $0.00 $484.63 $86,691.92
123 $86,691.92 $495.39 $0.00 $490.17 $87,677.48
124 $87,677.48 $495.39 $0.00 $495.74 $88,668.61
125 $88,668.61 $495.39 $0.00 $501.35 $89,665.35
126 $89,665.35 $495.39 $0.00 $506.98 $90,667.72
127 $90,667.72 $495.39 $0.00 $512.65 $91,675.76
128 $91,675.76 $495.39 $0.00 $518.35 $92,689.50
129 $92,689.50 $495.39 $0.00 $524.08 $93,708.97
130 $93,708.97 $495.39 $0.00 $529.84 $94,734.20
131 $94,734.20 $495.39 $0.00 $535.64 $95,765.23
132 $95,765.23 $495.39 $0.00 $541.47 $96,802.09
133 $96,802.09 $495.39 $0.00 $547.33 $97,844.81
134 $97,844.81 $495.39 $0.00 $553.23 $98,893.43
135 $98,893.43 $495.39 $0.00 $559.16 $99,947.98
136 $99,947.98 $495.39 $0.00 $565.12 $101,008.49
137 $101,008.49 $495.39 $0.00 $571.12 $102,075.00
138 $102,075.00 $495.39 $0.00 $577.15 $103,147.54
139 $103,147.54 $495.39 $0.00 $583.21 $104,226.14
140 $104,226.14 $495.39 $0.00 $589.31 $105,310.84
141 $105,310.84 $495.39 $0.00 $595.44 $106,401.67
142 $106,401.67 $495.39 $0.00 $601.61 $107,498.67
143 $107,498.67 $495.39 $0.00 $607.81 $108,601.87
144 $108,601.87 $495.39 $0.00 $614.05 $109,711.31
145 $109,711.31 $495.39 $0.00 $620.32 $110,827.02
146 $110,827.02 $495.39 $0.00 $626.63 $111,949.04
147 $111,949.04 $495.39 $0.00 $632.98 $113,077.41
148 $113,077.41 $495.39 $0.00 $639.36 $114,212.16
149 $114,212.16 $495.39 $0.00 $645.77 $115,353.32
150 $115,353.32 $495.39 $0.00 $652.22 $116,500.93
151 $116,500.93 $495.39 $0.00 $658.71 $117,655.03
152 $117,655.03 $495.39 $0.00 $665.24 $118,815.66
153 $118,815.66 $495.39 $0.00 $671.80 $119,982.85
154 $119,982.85 $495.39 $0.00 $678.40 $121,156.64
155 $121,156.64 $495.39 $0.00 $685.04 $122,337.07
156 $122,337.07 $495.39 $0.00 $691.71 $123,524.17
157 $123,524.17 $495.39 $0.00 $698.42 $124,717.98
158 $124,717.98 $495.39 $0.00 $705.17 $125,918.54
159 $125,918.54 $495.39 $0.00 $711.96 $127,125.89
160 $127,125.89 $495.39 $0.00 $718.79 $128,340.07
161 $128,340.07 $495.39 $0.00 $725.65 $129,561.11
162 $129,561.11 $495.39 $0.00 $732.56 $130,789.06
163 $130,789.06 $495.39 $0.00 $739.50 $132,023.95
164 $132,023.95 $495.39 $0.00 $746.48 $133,265.82
165 $133,265.82 $495.39 $0.00 $753.50 $134,514.71
166 $134,514.71 $495.39 $0.00 $760.57 $135,770.67
167 $135,770.67 $495.39 $0.00 $767.67 $137,033.73
168 $137,033.73 $495.39 $0.00 $774.81 $138,303.93
169 $138,303.93 $495.39 $0.00 $781.99 $139,581.31
170 $139,581.31 $495.39 $0.00 $789.21 $140,865.91
171 $140,865.91 $495.39 $0.00 $796.48 $142,157.78
172 $142,157.78 $495.39 $0.00 $803.78 $143,456.95
173 $143,456.95 $495.39 $0.00 $811.13 $144,763.47
174 $144,763.47 $495.39 $0.00 $818.51 $146,077.37
175 $146,077.37 $495.39 $0.00 $825.94 $147,398.70
176 $147,398.70 $495.39 $0.00 $833.41 $148,727.50
177 $148,727.50 $495.39 $0.00 $840.93 $150,063.82
178 $150,063.82 $495.39 $0.00 $848.48 $151,407.69
179 $151,407.69 $495.39 $0.00 $856.08 $152,759.16
180 $152,759.16 $495.39 $0.00 $863.72 $154,118.27
181 $154,118.27 $495.39 $0.00 $871.41 $155,485.07
182 $155,485.07 $495.39 $0.00 $879.14 $156,859.60
183 $156,859.60 $495.39 $0.00 $886.91 $158,241.90
184 $158,241.90 $495.39 $0.00 $894.72 $159,632.01
185 $159,632.01 $495.39 $0.00 $902.58 $161,029.98
186 $161,029.98 $495.39 $0.00 $910.49 $162,435.86
187 $162,435.86 $495.39 $0.00 $918.44 $163,849.69
188 $163,849.69 $495.39 $0.00 $926.43 $165,271.51
189 $165,271.51 $495.39 $0.00 $934.47 $166,701.37
190 $166,701.37 $495.39 $0.00 $942.55 $168,139.31
191 $168,139.31 $495.39 $0.00 $950.68 $169,585.38
192 $169,585.38 $495.39 $0.00 $958.86 $171,039.63
193 $171,039.63 $495.39 $0.00 $967.08 $172,502.10
194 $172,502.10 $495.39 $0.00 $975.35 $173,972.84
195 $173,972.84 $495.39 $0.00 $983.67 $175,451.90
196 $175,451.90 $495.39 $0.00 $992.03 $176,939.32
197 $176,939.32 $495.39 $0.00 $1,000.44 $178,435.15
198 $178,435.15 $495.39 $0.00 $1,008.90 $179,939.44
199 $179,939.44 $495.39 $0.00 $1,017.40 $181,452.23
200 $181,452.23 $495.39 $0.00 $1,025.96 $182,973.58
201 $182,973.58 $495.39 $0.00 $1,034.56 $184,503.53
202 $184,503.53 $495.39 $0.00 $1,043.21 $186,042.13
203 $186,042.13 $495.39 $0.00 $1,051.91 $187,589.43
204 $187,589.43 $495.39 $0.00 $1,060.66 $189,145.48
205 $189,145.48 $495.39 $0.00 $1,069.46 $190,710.33
206 $190,710.33 $495.39 $0.00 $1,078.30 $192,284.02
207 $192,284.02 $495.39 $0.00 $1,087.20 $193,866.61
208 $193,866.61 $495.39 $0.00 $1,096.15 $195,458.15
209 $195,458.15 $495.39 $0.00 $1,105.15 $197,058.69
210 $197,058.69 $495.39 $0.00 $1,114.20 $198,668.28
211 $198,668.28 $495.39 $0.00 $1,123.30 $200,286.97
212 $200,286.97 $495.39 $0.00 $1,132.45 $201,914.81
213 $201,914.81 $495.39 $0.00 $1,141.66 $203,551.86
214 $203,551.86 $495.39 $0.00 $1,150.91 $205,198.16
215 $205,198.16 $495.39 $0.00 $1,160.22 $206,853.77
216 $206,853.77 $495.39 $0.00 $1,169.58 $208,518.74
217 $208,518.74 $495.39 $58,078.94 $1,179.00 $152,114.19
218 $152,114.19 $495.39 $0.00 $860.08 $153,469.66
219 $153,469.66 $495.39 $0.00 $867.74 $154,832.79
220 $154,832.79 $495.39 $0.00 $875.45 $156,203.63
221 $156,203.63 $495.39 $0.00 $883.20 $157,582.22
222 $157,582.22 $495.39 $0.00 $890.99 $158,968.60
223 $158,968.60 $495.39 $0.00 $898.83 $160,362.82
224 $160,362.82 $495.39 $0.00 $906.71 $161,764.92
225 $161,764.92 $495.39 $0.00 $914.64 $163,174.95
226 $163,174.95 $495.39 $0.00 $922.61 $164,592.95
227 $164,592.95 $495.39 $0.00 $930.63 $166,018.97
228 $166,018.97 $495.39 $0.00 $938.70 $167,453.06
229 $167,453.06 $495.39 $60,982.89 $946.80 $107,912.36
230 $107,912.36 $495.39 $0.00 $610.15 $109,017.90
231 $109,017.90 $495.39 $0.00 $616.40 $110,129.69
232 $110,129.69 $495.39 $0.00 $622.69 $111,247.77
233 $111,247.77 $495.39 $0.00 $629.01 $112,372.17
234 $112,372.17 $495.39 $0.00 $635.37 $113,502.93
235 $113,502.93 $495.39 $0.00 $641.76 $114,640.08
236 $114,640.08 $495.39 $0.00 $648.19 $115,783.66
237 $115,783.66 $495.39 $0.00 $654.66 $116,933.71
238 $116,933.71 $495.39 $0.00 $661.16 $118,090.26
239 $118,090.26 $495.39 $0.00 $667.70 $119,253.35
240 $119,253.35 $495.39 $0.00 $674.28 $120,423.02
241 $120,423.02 $495.39 $64,032.03 $680.89 $57,567.27
242 $57,567.27 $495.39 $0.00 $325.49 $58,388.15
243 $58,388.15 $495.39 $0.00 $330.14 $59,213.68
244 $59,213.68 $495.39 $0.00 $334.80 $60,043.87
245 $60,043.87 $495.39 $0.00 $339.50 $60,878.76
246 $60,878.76 $495.39 $0.00 $344.22 $61,718.37
247 $61,718.37 $495.39 $0.00 $348.96 $62,562.72
248 $62,562.72 $495.39 $0.00 $353.74 $63,411.85
249 $63,411.85 $495.39 $0.00 $358.54 $64,265.78
250 $64,265.78 $495.39 $0.00 $363.37 $65,124.54
251 $65,124.54 $495.39 $0.00 $368.22 $65,988.15
252 $65,988.15 $495.39 $0.00 $373.11 $66,856.65
253 $66,856.65 $0.00 $67,233.64 $378.02 $1.03