Project the future cost of college and how much to save in New Mexico.
Projects the future cost of a degree: today's yearly cost grows at a tuition-inflation rate for the years until enrollment, then across each year of the degree. Save earlier — even small monthly amounts compound.
Total
Total = Σ cost × (1 + inflation)^(years + i)
Projection only.
Financial aid, scholarships and state grants reduce net cost; adjust the yearly figure to your expected net price.
Rates are approximate reference values. Local rates, exemptions and rules can differ, so treat the output as a planning figure only.