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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$57,994
Monthly savings required$258

How much will it cost to send your child to Centura College Richmond Westend in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $115,988.22 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $257.74 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$23,510.00
Years until enrollment18
Annual Tuition Increase5%
Current Savings$0.00
After Tax Return on Savings7%
Years of enrollment2

Current Savings Shortfall

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Planned Savings Balance

College Savings Schedule

Month Begin Deposit Withdraw Interest End
1 $0.00 $257.74 $0.00 $0.00 $257.74
2 $257.74 $257.74 $0.00 $1.46 $516.94
3 $516.94 $257.74 $0.00 $2.92 $777.60
4 $777.60 $257.74 $0.00 $4.40 $1,039.74
5 $1,039.74 $257.74 $0.00 $5.88 $1,303.36
6 $1,303.36 $257.74 $0.00 $7.37 $1,568.47
7 $1,568.47 $257.74 $0.00 $8.87 $1,835.08
8 $1,835.08 $257.74 $0.00 $10.38 $2,103.20
9 $2,103.20 $257.74 $0.00 $11.89 $2,372.83
10 $2,372.83 $257.74 $0.00 $13.42 $2,643.99
11 $2,643.99 $257.74 $0.00 $14.95 $2,916.68
12 $2,916.68 $257.74 $0.00 $16.49 $3,190.91
13 $3,190.91 $257.74 $0.00 $18.04 $3,466.69
14 $3,466.69 $257.74 $0.00 $19.60 $3,744.03
15 $3,744.03 $257.74 $0.00 $21.17 $4,022.94
16 $4,022.94 $257.74 $0.00 $22.75 $4,303.43
17 $4,303.43 $257.74 $0.00 $24.33 $4,585.50
18 $4,585.50 $257.74 $0.00 $25.93 $4,869.17
19 $4,869.17 $257.74 $0.00 $27.53 $5,154.44
20 $5,154.44 $257.74 $0.00 $29.14 $5,441.32
21 $5,441.32 $257.74 $0.00 $30.77 $5,729.83
22 $5,729.83 $257.74 $0.00 $32.40 $6,019.97
23 $6,019.97 $257.74 $0.00 $34.04 $6,311.75
24 $6,311.75 $257.74 $0.00 $35.69 $6,605.18
25 $6,605.18 $257.74 $0.00 $37.35 $6,900.27
26 $6,900.27 $257.74 $0.00 $39.02 $7,197.03
27 $7,197.03 $257.74 $0.00 $40.69 $7,495.46
28 $7,495.46 $257.74 $0.00 $42.38 $7,795.58
29 $7,795.58 $257.74 $0.00 $44.08 $8,097.40
30 $8,097.40 $257.74 $0.00 $45.78 $8,400.92
31 $8,400.92 $257.74 $0.00 $47.50 $8,706.16
32 $8,706.16 $257.74 $0.00 $49.23 $9,013.13
33 $9,013.13 $257.74 $0.00 $50.96 $9,321.83
34 $9,321.83 $257.74 $0.00 $52.71 $9,632.28
35 $9,632.28 $257.74 $0.00 $54.46 $9,944.48
36 $9,944.48 $257.74 $0.00 $56.23 $10,258.45
37 $10,258.45 $257.74 $0.00 $58.00 $10,574.19
38 $10,574.19 $257.74 $0.00 $59.79 $10,891.72
39 $10,891.72 $257.74 $0.00 $61.58 $11,211.04
40 $11,211.04 $257.74 $0.00 $63.39 $11,532.17
41 $11,532.17 $257.74 $0.00 $65.20 $11,855.11
42 $11,855.11 $257.74 $0.00 $67.03 $12,179.88
43 $12,179.88 $257.74 $0.00 $68.87 $12,506.49
44 $12,506.49 $257.74 $0.00 $70.71 $12,834.94
45 $12,834.94 $257.74 $0.00 $72.57 $13,165.25
46 $13,165.25 $257.74 $0.00 $74.44 $13,497.43
47 $13,497.43 $257.74 $0.00 $76.32 $13,831.49
48 $13,831.49 $257.74 $0.00 $78.21 $14,167.44
49 $14,167.44 $257.74 $0.00 $80.10 $14,505.28
50 $14,505.28 $257.74 $0.00 $82.01 $14,845.03
51 $14,845.03 $257.74 $0.00 $83.94 $15,186.71
52 $15,186.71 $257.74 $0.00 $85.87 $15,530.32
53 $15,530.32 $257.74 $0.00 $87.81 $15,875.87
54 $15,875.87 $257.74 $0.00 $89.76 $16,223.37
55 $16,223.37 $257.74 $0.00 $91.73 $16,572.84
56 $16,572.84 $257.74 $0.00 $93.71 $16,924.29
57 $16,924.29 $257.74 $0.00 $95.69 $17,277.72
58 $17,277.72 $257.74 $0.00 $97.69 $17,633.15
59 $17,633.15 $257.74 $0.00 $99.70 $17,990.59
60 $17,990.59 $257.74 $0.00 $101.72 $18,350.05
61 $18,350.05 $257.74 $0.00 $103.75 $18,711.54
62 $18,711.54 $257.74 $0.00 $105.80 $19,075.08
63 $19,075.08 $257.74 $0.00 $107.85 $19,440.67
64 $19,440.67 $257.74 $0.00 $109.92 $19,808.33
65 $19,808.33 $257.74 $0.00 $112.00 $20,178.07
66 $20,178.07 $257.74 $0.00 $114.09 $20,549.90
67 $20,549.90 $257.74 $0.00 $116.19 $20,923.83
68 $20,923.83 $257.74 $0.00 $118.31 $21,299.88
69 $21,299.88 $257.74 $0.00 $120.43 $21,678.05
70 $21,678.05 $257.74 $0.00 $122.57 $22,058.36
71 $22,058.36 $257.74 $0.00 $124.72 $22,440.82
72 $22,440.82 $257.74 $0.00 $126.88 $22,825.44
73 $22,825.44 $257.74 $0.00 $129.06 $23,212.24
74 $23,212.24 $257.74 $0.00 $131.25 $23,601.23
75 $23,601.23 $257.74 $0.00 $133.44 $23,992.41
76 $23,992.41 $257.74 $0.00 $135.66 $24,385.81
77 $24,385.81 $257.74 $0.00 $137.88 $24,781.43
78 $24,781.43 $257.74 $0.00 $140.12 $25,179.29
79 $25,179.29 $257.74 $0.00 $142.37 $25,579.40
80 $25,579.40 $257.74 $0.00 $144.63 $25,981.77
81 $25,981.77 $257.74 $0.00 $146.90 $26,386.41
82 $26,386.41 $257.74 $0.00 $149.19 $26,793.34
83 $26,793.34 $257.74 $0.00 $151.49 $27,202.57
84 $27,202.57 $257.74 $0.00 $153.81 $27,614.12
85 $27,614.12 $257.74 $0.00 $156.13 $28,027.99
86 $28,027.99 $257.74 $0.00 $158.47 $28,444.20
87 $28,444.20 $257.74 $0.00 $160.83 $28,862.77
88 $28,862.77 $257.74 $0.00 $163.19 $29,283.70
89 $29,283.70 $257.74 $0.00 $165.57 $29,707.01
90 $29,707.01 $257.74 $0.00 $167.97 $30,132.72
91 $30,132.72 $257.74 $0.00 $170.37 $30,560.83
92 $30,560.83 $257.74 $0.00 $172.80 $30,991.37
93 $30,991.37 $257.74 $0.00 $175.23 $31,424.34
94 $31,424.34 $257.74 $0.00 $177.68 $31,859.76
95 $31,859.76 $257.74 $0.00 $180.14 $32,297.64
96 $32,297.64 $257.74 $0.00 $182.62 $32,738.00
97 $32,738.00 $257.74 $0.00 $185.11 $33,180.85
98 $33,180.85 $257.74 $0.00 $187.61 $33,626.20
99 $33,626.20 $257.74 $0.00 $190.13 $34,074.07
100 $34,074.07 $257.74 $0.00 $192.66 $34,524.47
101 $34,524.47 $257.74 $0.00 $195.21 $34,977.42
102 $34,977.42 $257.74 $0.00 $197.77 $35,432.93
103 $35,432.93 $257.74 $0.00 $200.34 $35,891.01
104 $35,891.01 $257.74 $0.00 $202.93 $36,351.68
105 $36,351.68 $257.74 $0.00 $205.54 $36,814.96
106 $36,814.96 $257.74 $0.00 $208.16 $37,280.86
107 $37,280.86 $257.74 $0.00 $210.79 $37,749.39
108 $37,749.39 $257.74 $0.00 $213.44 $38,220.57
109 $38,220.57 $257.74 $0.00 $216.10 $38,694.41
110 $38,694.41 $257.74 $0.00 $218.78 $39,170.93
111 $39,170.93 $257.74 $0.00 $221.48 $39,650.15
112 $39,650.15 $257.74 $0.00 $224.19 $40,132.08
113 $40,132.08 $257.74 $0.00 $226.91 $40,616.73
114 $40,616.73 $257.74 $0.00 $229.65 $41,104.12
115 $41,104.12 $257.74 $0.00 $232.41 $41,594.27
116 $41,594.27 $257.74 $0.00 $235.18 $42,087.19
117 $42,087.19 $257.74 $0.00 $237.97 $42,582.90
118 $42,582.90 $257.74 $0.00 $240.77 $43,081.41
119 $43,081.41 $257.74 $0.00 $243.59 $43,582.74
120 $43,582.74 $257.74 $0.00 $246.42 $44,086.90
121 $44,086.90 $257.74 $0.00 $249.27 $44,593.91
122 $44,593.91 $257.74 $0.00 $252.14 $45,103.79
123 $45,103.79 $257.74 $0.00 $255.02 $45,616.55
124 $45,616.55 $257.74 $0.00 $257.92 $46,132.21
125 $46,132.21 $257.74 $0.00 $260.84 $46,650.79
126 $46,650.79 $257.74 $0.00 $263.77 $47,172.30
127 $47,172.30 $257.74 $0.00 $266.72 $47,696.76
128 $47,696.76 $257.74 $0.00 $269.68 $48,224.18
129 $48,224.18 $257.74 $0.00 $272.67 $48,754.59
130 $48,754.59 $257.74 $0.00 $275.67 $49,288.00
131 $49,288.00 $257.74 $0.00 $278.68 $49,824.42
132 $49,824.42 $257.74 $0.00 $281.71 $50,363.87
133 $50,363.87 $257.74 $0.00 $284.76 $50,906.37
134 $50,906.37 $257.74 $0.00 $287.83 $51,451.94
135 $51,451.94 $257.74 $0.00 $290.92 $52,000.60
136 $52,000.60 $257.74 $0.00 $294.02 $52,552.36
137 $52,552.36 $257.74 $0.00 $297.14 $53,107.24
138 $53,107.24 $257.74 $0.00 $300.28 $53,665.26
139 $53,665.26 $257.74 $0.00 $303.43 $54,226.43
140 $54,226.43 $257.74 $0.00 $306.60 $54,790.77
141 $54,790.77 $257.74 $0.00 $309.79 $55,358.30
142 $55,358.30 $257.74 $0.00 $313.00 $55,929.04
143 $55,929.04 $257.74 $0.00 $316.23 $56,503.01
144 $56,503.01 $257.74 $0.00 $319.48 $57,080.23
145 $57,080.23 $257.74 $0.00 $322.74 $57,660.71
146 $57,660.71 $257.74 $0.00 $326.02 $58,244.47
147 $58,244.47 $257.74 $0.00 $329.32 $58,831.53
148 $58,831.53 $257.74 $0.00 $332.64 $59,421.91
149 $59,421.91 $257.74 $0.00 $335.98 $60,015.63
150 $60,015.63 $257.74 $0.00 $339.34 $60,612.71
151 $60,612.71 $257.74 $0.00 $342.71 $61,213.16
152 $61,213.16 $257.74 $0.00 $346.11 $61,817.01
153 $61,817.01 $257.74 $0.00 $349.52 $62,424.27
154 $62,424.27 $257.74 $0.00 $352.96 $63,034.97
155 $63,034.97 $257.74 $0.00 $356.41 $63,649.12
156 $63,649.12 $257.74 $0.00 $359.88 $64,266.74
157 $64,266.74 $257.74 $0.00 $363.37 $64,887.85
158 $64,887.85 $257.74 $0.00 $366.89 $65,512.48
159 $65,512.48 $257.74 $0.00 $370.42 $66,140.64
160 $66,140.64 $257.74 $0.00 $373.97 $66,772.35
161 $66,772.35 $257.74 $0.00 $377.54 $67,407.63
162 $67,407.63 $257.74 $0.00 $381.13 $68,046.50
163 $68,046.50 $257.74 $0.00 $384.74 $68,688.98
164 $68,688.98 $257.74 $0.00 $388.38 $69,335.10
165 $69,335.10 $257.74 $0.00 $392.03 $69,984.87
166 $69,984.87 $257.74 $0.00 $395.70 $70,638.31
167 $70,638.31 $257.74 $0.00 $399.40 $71,295.45
168 $71,295.45 $257.74 $0.00 $403.11 $71,956.30
169 $71,956.30 $257.74 $0.00 $406.85 $72,620.89
170 $72,620.89 $257.74 $0.00 $410.61 $73,289.24
171 $73,289.24 $257.74 $0.00 $414.39 $73,961.37
172 $73,961.37 $257.74 $0.00 $418.19 $74,637.30
173 $74,637.30 $257.74 $0.00 $422.01 $75,317.05
174 $75,317.05 $257.74 $0.00 $425.85 $76,000.64
175 $76,000.64 $257.74 $0.00 $429.72 $76,688.10
176 $76,688.10 $257.74 $0.00 $433.61 $77,379.45
177 $77,379.45 $257.74 $0.00 $437.51 $78,074.70
178 $78,074.70 $257.74 $0.00 $441.45 $78,773.89
179 $78,773.89 $257.74 $0.00 $445.40 $79,477.03
180 $79,477.03 $257.74 $0.00 $449.37 $80,184.14
181 $80,184.14 $257.74 $0.00 $453.37 $80,895.25
182 $80,895.25 $257.74 $0.00 $457.39 $81,610.38
183 $81,610.38 $257.74 $0.00 $461.44 $82,329.56
184 $82,329.56 $257.74 $0.00 $465.50 $83,052.80
185 $83,052.80 $257.74 $0.00 $469.59 $83,780.13
186 $83,780.13 $257.74 $0.00 $473.71 $84,511.58
187 $84,511.58 $257.74 $0.00 $477.84 $85,247.16
188 $85,247.16 $257.74 $0.00 $482.00 $85,986.90
189 $85,986.90 $257.74 $0.00 $486.18 $86,730.82
190 $86,730.82 $257.74 $0.00 $490.39 $87,478.95
191 $87,478.95 $257.74 $0.00 $494.62 $88,231.31
192 $88,231.31 $257.74 $0.00 $498.87 $88,987.92
193 $88,987.92 $257.74 $0.00 $503.15 $89,748.81
194 $89,748.81 $257.74 $0.00 $507.45 $90,514.00
195 $90,514.00 $257.74 $0.00 $511.78 $91,283.52
196 $91,283.52 $257.74 $0.00 $516.13 $92,057.39
197 $92,057.39 $257.74 $0.00 $520.51 $92,835.64
198 $92,835.64 $257.74 $0.00 $524.91 $93,618.29
199 $93,618.29 $257.74 $0.00 $529.33 $94,405.36
200 $94,405.36 $257.74 $0.00 $533.78 $95,196.88
201 $95,196.88 $257.74 $0.00 $538.26 $95,992.88
202 $95,992.88 $257.74 $0.00 $542.76 $96,793.38
203 $96,793.38 $257.74 $0.00 $547.28 $97,598.40
204 $97,598.40 $257.74 $0.00 $551.84 $98,407.98
205 $98,407.98 $257.74 $0.00 $556.41 $99,222.13
206 $99,222.13 $257.74 $0.00 $561.02 $100,040.89
207 $100,040.89 $257.74 $0.00 $565.65 $100,864.28
208 $100,864.28 $257.74 $0.00 $570.30 $101,692.32
209 $101,692.32 $257.74 $0.00 $574.98 $102,525.04
210 $102,525.04 $257.74 $0.00 $579.69 $103,362.47
211 $103,362.47 $257.74 $0.00 $584.43 $104,204.64
212 $104,204.64 $257.74 $0.00 $589.19 $105,051.57
213 $105,051.57 $257.74 $0.00 $593.98 $105,903.29
214 $105,903.29 $257.74 $0.00 $598.79 $106,759.82
215 $106,759.82 $257.74 $0.00 $603.64 $107,621.20
216 $107,621.20 $257.74 $0.00 $608.51 $108,487.45
217 $108,487.45 $257.74 $56,579.62 $613.40 $52,778.97
218 $52,778.97 $257.74 $0.00 $298.42 $53,335.13
219 $53,335.13 $257.74 $0.00 $301.56 $53,894.43
220 $53,894.43 $257.74 $0.00 $304.73 $54,456.90
221 $54,456.90 $257.74 $0.00 $307.91 $55,022.55
222 $55,022.55 $257.74 $0.00 $311.11 $55,591.40
223 $55,591.40 $257.74 $0.00 $314.32 $56,163.46
224 $56,163.46 $257.74 $0.00 $317.56 $56,738.76
225 $56,738.76 $257.74 $0.00 $320.81 $57,317.31
226 $57,317.31 $257.74 $0.00 $324.08 $57,899.13
227 $57,899.13 $257.74 $0.00 $327.37 $58,484.24
228 $58,484.24 $257.74 $0.00 $330.68 $59,072.66
229 $59,072.66 $0.00 $59,408.60 $334.01 ($1.93)