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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$153,847
Monthly savings required$1,218

How much will it cost to send your child to Roanoke College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $615,388.87 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,217.84 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$59,327.00
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 $1,217.84 $0.00 $0.00 $1,217.84
2 $1,217.84 $1,217.84 $0.00 $6.89 $2,442.57
3 $2,442.57 $1,217.84 $0.00 $13.81 $3,674.22
4 $3,674.22 $1,217.84 $0.00 $20.77 $4,912.83
5 $4,912.83 $1,217.84 $0.00 $27.78 $6,158.45
6 $6,158.45 $1,217.84 $0.00 $34.82 $7,411.11
7 $7,411.11 $1,217.84 $0.00 $41.90 $8,670.85
8 $8,670.85 $1,217.84 $0.00 $49.03 $9,937.72
9 $9,937.72 $1,217.84 $0.00 $56.19 $11,211.75
10 $11,211.75 $1,217.84 $0.00 $63.39 $12,492.98
11 $12,492.98 $1,217.84 $0.00 $70.64 $13,781.46
12 $13,781.46 $1,217.84 $0.00 $77.92 $15,077.22
13 $15,077.22 $1,217.84 $0.00 $85.25 $16,380.31
14 $16,380.31 $1,217.84 $0.00 $92.62 $17,690.77
15 $17,690.77 $1,217.84 $0.00 $100.03 $19,008.64
16 $19,008.64 $1,217.84 $0.00 $107.48 $20,333.96
17 $20,333.96 $1,217.84 $0.00 $114.97 $21,666.77
18 $21,666.77 $1,217.84 $0.00 $122.51 $23,007.12
19 $23,007.12 $1,217.84 $0.00 $130.09 $24,355.05
20 $24,355.05 $1,217.84 $0.00 $137.71 $25,710.60
21 $25,710.60 $1,217.84 $0.00 $145.37 $27,073.81
22 $27,073.81 $1,217.84 $0.00 $153.08 $28,444.73
23 $28,444.73 $1,217.84 $0.00 $160.83 $29,823.40
24 $29,823.40 $1,217.84 $0.00 $168.63 $31,209.87
25 $31,209.87 $1,217.84 $0.00 $176.47 $32,604.18
26 $32,604.18 $1,217.84 $0.00 $184.35 $34,006.37
27 $34,006.37 $1,217.84 $0.00 $192.28 $35,416.49
28 $35,416.49 $1,217.84 $0.00 $200.25 $36,834.58
29 $36,834.58 $1,217.84 $0.00 $208.27 $38,260.69
30 $38,260.69 $1,217.84 $0.00 $216.33 $39,694.86
31 $39,694.86 $1,217.84 $0.00 $224.44 $41,137.14
32 $41,137.14 $1,217.84 $0.00 $232.60 $42,587.58
33 $42,587.58 $1,217.84 $0.00 $240.80 $44,046.22
34 $44,046.22 $1,217.84 $0.00 $249.04 $45,513.10
35 $45,513.10 $1,217.84 $0.00 $257.34 $46,988.28
36 $46,988.28 $1,217.84 $0.00 $265.68 $48,471.80
37 $48,471.80 $1,217.84 $0.00 $274.07 $49,963.71
38 $49,963.71 $1,217.84 $0.00 $282.50 $51,464.05
39 $51,464.05 $1,217.84 $0.00 $290.99 $52,972.88
40 $52,972.88 $1,217.84 $0.00 $299.52 $54,490.24
41 $54,490.24 $1,217.84 $0.00 $308.10 $56,016.18
42 $56,016.18 $1,217.84 $0.00 $316.72 $57,550.74
43 $57,550.74 $1,217.84 $0.00 $325.40 $59,093.98
44 $59,093.98 $1,217.84 $0.00 $334.13 $60,645.95
45 $60,645.95 $1,217.84 $0.00 $342.90 $62,206.69
46 $62,206.69 $1,217.84 $0.00 $351.73 $63,776.26
47 $63,776.26 $1,217.84 $0.00 $360.60 $65,354.70
48 $65,354.70 $1,217.84 $0.00 $369.52 $66,942.06
49 $66,942.06 $1,217.84 $0.00 $378.50 $68,538.40
50 $68,538.40 $1,217.84 $0.00 $387.53 $70,143.77
51 $70,143.77 $1,217.84 $0.00 $396.60 $71,758.21
52 $71,758.21 $1,217.84 $0.00 $405.73 $73,381.78
53 $73,381.78 $1,217.84 $0.00 $414.91 $75,014.53
54 $75,014.53 $1,217.84 $0.00 $424.14 $76,656.51
55 $76,656.51 $1,217.84 $0.00 $433.43 $78,307.78
56 $78,307.78 $1,217.84 $0.00 $442.76 $79,968.38
57 $79,968.38 $1,217.84 $0.00 $452.15 $81,638.37
58 $81,638.37 $1,217.84 $0.00 $461.60 $83,317.81
59 $83,317.81 $1,217.84 $0.00 $471.09 $85,006.74
60 $85,006.74 $1,217.84 $0.00 $480.64 $86,705.22
61 $86,705.22 $1,217.84 $0.00 $490.24 $88,413.30
62 $88,413.30 $1,217.84 $0.00 $499.90 $90,131.04
63 $90,131.04 $1,217.84 $0.00 $509.61 $91,858.49
64 $91,858.49 $1,217.84 $0.00 $519.38 $93,595.71
65 $93,595.71 $1,217.84 $0.00 $529.20 $95,342.75
66 $95,342.75 $1,217.84 $0.00 $539.08 $97,099.67
67 $97,099.67 $1,217.84 $0.00 $549.02 $98,866.53
68 $98,866.53 $1,217.84 $0.00 $559.01 $100,643.38
69 $100,643.38 $1,217.84 $0.00 $569.05 $102,430.27
70 $102,430.27 $1,217.84 $0.00 $579.16 $104,227.27
71 $104,227.27 $1,217.84 $0.00 $589.32 $106,034.43
72 $106,034.43 $1,217.84 $0.00 $599.53 $107,851.80
73 $107,851.80 $1,217.84 $0.00 $609.81 $109,679.45
74 $109,679.45 $1,217.84 $0.00 $620.14 $111,517.43
75 $111,517.43 $1,217.84 $0.00 $630.54 $113,365.81
76 $113,365.81 $1,217.84 $0.00 $640.99 $115,224.64
77 $115,224.64 $1,217.84 $0.00 $651.50 $117,093.98
78 $117,093.98 $1,217.84 $0.00 $662.07 $118,973.89
79 $118,973.89 $1,217.84 $0.00 $672.70 $120,864.43
80 $120,864.43 $1,217.84 $0.00 $683.39 $122,765.66
81 $122,765.66 $1,217.84 $0.00 $694.13 $124,677.63
82 $124,677.63 $1,217.84 $0.00 $704.95 $126,600.42
83 $126,600.42 $1,217.84 $0.00 $715.82 $128,534.08
84 $128,534.08 $1,217.84 $0.00 $726.75 $130,478.67
85 $130,478.67 $1,217.84 $0.00 $737.75 $132,434.26
86 $132,434.26 $1,217.84 $0.00 $748.80 $134,400.90
87 $134,400.90 $1,217.84 $0.00 $759.92 $136,378.66
88 $136,378.66 $1,217.84 $0.00 $771.10 $138,367.60
89 $138,367.60 $1,217.84 $0.00 $782.35 $140,367.79
90 $140,367.79 $1,217.84 $0.00 $793.66 $142,379.29
91 $142,379.29 $1,217.84 $0.00 $805.03 $144,402.16
92 $144,402.16 $1,217.84 $0.00 $816.47 $146,436.47
93 $146,436.47 $1,217.84 $0.00 $827.97 $148,482.28
94 $148,482.28 $1,217.84 $0.00 $839.54 $150,539.66
95 $150,539.66 $1,217.84 $0.00 $851.17 $152,608.67
96 $152,608.67 $1,217.84 $0.00 $862.87 $154,689.38
97 $154,689.38 $1,217.84 $0.00 $874.64 $156,781.86
98 $156,781.86 $1,217.84 $0.00 $886.47 $158,886.17
99 $158,886.17 $1,217.84 $0.00 $898.37 $161,002.38
100 $161,002.38 $1,217.84 $0.00 $910.33 $163,130.55
101 $163,130.55 $1,217.84 $0.00 $922.36 $165,270.75
102 $165,270.75 $1,217.84 $0.00 $934.46 $167,423.05
103 $167,423.05 $1,217.84 $0.00 $946.63 $169,587.52
104 $169,587.52 $1,217.84 $0.00 $958.87 $171,764.23
105 $171,764.23 $1,217.84 $0.00 $971.18 $173,953.25
106 $173,953.25 $1,217.84 $0.00 $983.56 $176,154.65
107 $176,154.65 $1,217.84 $0.00 $996.00 $178,368.49
108 $178,368.49 $1,217.84 $0.00 $1,008.52 $180,594.85
109 $180,594.85 $1,217.84 $0.00 $1,021.11 $182,833.80
110 $182,833.80 $1,217.84 $0.00 $1,033.77 $185,085.41
111 $185,085.41 $1,217.84 $0.00 $1,046.50 $187,349.75
112 $187,349.75 $1,217.84 $0.00 $1,059.30 $189,626.89
113 $189,626.89 $1,217.84 $0.00 $1,072.18 $191,916.91
114 $191,916.91 $1,217.84 $0.00 $1,085.13 $194,219.88
115 $194,219.88 $1,217.84 $0.00 $1,098.15 $196,535.87
116 $196,535.87 $1,217.84 $0.00 $1,111.24 $198,864.95
117 $198,864.95 $1,217.84 $0.00 $1,124.41 $201,207.20
118 $201,207.20 $1,217.84 $0.00 $1,137.65 $203,562.69
119 $203,562.69 $1,217.84 $0.00 $1,150.97 $205,931.50
120 $205,931.50 $1,217.84 $0.00 $1,164.37 $208,313.71
121 $208,313.71 $1,217.84 $0.00 $1,177.84 $210,709.39
122 $210,709.39 $1,217.84 $0.00 $1,191.38 $213,118.61
123 $213,118.61 $1,217.84 $0.00 $1,205.00 $215,541.45
124 $215,541.45 $1,217.84 $0.00 $1,218.70 $217,977.99
125 $217,977.99 $1,217.84 $0.00 $1,232.48 $220,428.31
126 $220,428.31 $1,217.84 $0.00 $1,246.33 $222,892.48
127 $222,892.48 $1,217.84 $0.00 $1,260.27 $225,370.59
128 $225,370.59 $1,217.84 $0.00 $1,274.28 $227,862.71
129 $227,862.71 $1,217.84 $0.00 $1,288.37 $230,368.92
130 $230,368.92 $1,217.84 $0.00 $1,302.54 $232,889.30
131 $232,889.30 $1,217.84 $0.00 $1,316.79 $235,423.93
132 $235,423.93 $1,217.84 $0.00 $1,331.12 $237,972.89
133 $237,972.89 $1,217.84 $0.00 $1,345.53 $240,536.26
134 $240,536.26 $1,217.84 $0.00 $1,360.03 $243,114.13
135 $243,114.13 $1,217.84 $0.00 $1,374.60 $245,706.57
136 $245,706.57 $1,217.84 $0.00 $1,389.26 $248,313.67
137 $248,313.67 $1,217.84 $0.00 $1,404.00 $250,935.51
138 $250,935.51 $1,217.84 $0.00 $1,418.83 $253,572.18
139 $253,572.18 $1,217.84 $0.00 $1,433.73 $256,223.75
140 $256,223.75 $1,217.84 $0.00 $1,448.73 $258,890.32
141 $258,890.32 $1,217.84 $0.00 $1,463.80 $261,571.96
142 $261,571.96 $1,217.84 $0.00 $1,478.97 $264,268.77
143 $264,268.77 $1,217.84 $0.00 $1,494.21 $266,980.82
144 $266,980.82 $1,217.84 $0.00 $1,509.55 $269,708.21
145 $269,708.21 $1,217.84 $0.00 $1,524.97 $272,451.02
146 $272,451.02 $1,217.84 $0.00 $1,540.48 $275,209.34
147 $275,209.34 $1,217.84 $0.00 $1,556.07 $277,983.25
148 $277,983.25 $1,217.84 $0.00 $1,571.76 $280,772.85
149 $280,772.85 $1,217.84 $0.00 $1,587.53 $283,578.22
150 $283,578.22 $1,217.84 $0.00 $1,603.39 $286,399.45
151 $286,399.45 $1,217.84 $0.00 $1,619.34 $289,236.63
152 $289,236.63 $1,217.84 $0.00 $1,635.39 $292,089.86
153 $292,089.86 $1,217.84 $0.00 $1,651.52 $294,959.22
154 $294,959.22 $1,217.84 $0.00 $1,667.74 $297,844.80
155 $297,844.80 $1,217.84 $0.00 $1,684.06 $300,746.70
156 $300,746.70 $1,217.84 $0.00 $1,700.47 $303,665.01
157 $303,665.01 $1,217.84 $0.00 $1,716.97 $306,599.82
158 $306,599.82 $1,217.84 $0.00 $1,733.56 $309,551.22
159 $309,551.22 $1,217.84 $0.00 $1,750.25 $312,519.31
160 $312,519.31 $1,217.84 $0.00 $1,767.03 $315,504.18
161 $315,504.18 $1,217.84 $0.00 $1,783.91 $318,505.93
162 $318,505.93 $1,217.84 $0.00 $1,800.88 $321,524.65
163 $321,524.65 $1,217.84 $0.00 $1,817.95 $324,560.44
164 $324,560.44 $1,217.84 $0.00 $1,835.11 $327,613.39
165 $327,613.39 $1,217.84 $0.00 $1,852.37 $330,683.60
166 $330,683.60 $1,217.84 $0.00 $1,869.73 $333,771.17
167 $333,771.17 $1,217.84 $0.00 $1,887.19 $336,876.20
168 $336,876.20 $1,217.84 $0.00 $1,904.75 $339,998.79
169 $339,998.79 $1,217.84 $0.00 $1,922.40 $343,139.03
170 $343,139.03 $1,217.84 $0.00 $1,940.16 $346,297.03
171 $346,297.03 $1,217.84 $0.00 $1,958.01 $349,472.88
172 $349,472.88 $1,217.84 $0.00 $1,975.97 $352,666.69
173 $352,666.69 $1,217.84 $0.00 $1,994.03 $355,878.56
174 $355,878.56 $1,217.84 $0.00 $2,012.19 $359,108.59
175 $359,108.59 $1,217.84 $0.00 $2,030.45 $362,356.88
176 $362,356.88 $1,217.84 $0.00 $2,048.82 $365,623.54
177 $365,623.54 $1,217.84 $0.00 $2,067.29 $368,908.67
178 $368,908.67 $1,217.84 $0.00 $2,085.86 $372,212.37
179 $372,212.37 $1,217.84 $0.00 $2,104.54 $375,534.75
180 $375,534.75 $1,217.84 $0.00 $2,123.33 $378,875.92
181 $378,875.92 $1,217.84 $0.00 $2,142.22 $382,235.98
182 $382,235.98 $1,217.84 $0.00 $2,161.22 $385,615.04
183 $385,615.04 $1,217.84 $0.00 $2,180.32 $389,013.20
184 $389,013.20 $1,217.84 $0.00 $2,199.54 $392,430.58
185 $392,430.58 $1,217.84 $0.00 $2,218.86 $395,867.28
186 $395,867.28 $1,217.84 $0.00 $2,238.29 $399,323.41
187 $399,323.41 $1,217.84 $0.00 $2,257.83 $402,799.08
188 $402,799.08 $1,217.84 $0.00 $2,277.48 $406,294.40
189 $406,294.40 $1,217.84 $0.00 $2,297.25 $409,809.49
190 $409,809.49 $1,217.84 $0.00 $2,317.12 $413,344.45
191 $413,344.45 $1,217.84 $0.00 $2,337.11 $416,899.40
192 $416,899.40 $1,217.84 $0.00 $2,357.21 $420,474.45
193 $420,474.45 $1,217.84 $0.00 $2,377.42 $424,069.71
194 $424,069.71 $1,217.84 $0.00 $2,397.75 $427,685.30
195 $427,685.30 $1,217.84 $0.00 $2,418.19 $431,321.33
196 $431,321.33 $1,217.84 $0.00 $2,438.75 $434,977.92
197 $434,977.92 $1,217.84 $0.00 $2,459.43 $438,655.19
198 $438,655.19 $1,217.84 $0.00 $2,480.22 $442,353.25
199 $442,353.25 $1,217.84 $0.00 $2,501.13 $446,072.22
200 $446,072.22 $1,217.84 $0.00 $2,522.16 $449,812.22
201 $449,812.22 $1,217.84 $0.00 $2,543.30 $453,573.36
202 $453,573.36 $1,217.84 $0.00 $2,564.57 $457,355.77
203 $457,355.77 $1,217.84 $0.00 $2,585.96 $461,159.57
204 $461,159.57 $1,217.84 $0.00 $2,607.46 $464,984.87
205 $464,984.87 $1,217.84 $0.00 $2,629.09 $468,831.80
206 $468,831.80 $1,217.84 $0.00 $2,650.84 $472,700.48
207 $472,700.48 $1,217.84 $0.00 $2,672.72 $476,591.04
208 $476,591.04 $1,217.84 $0.00 $2,694.72 $480,503.60
209 $480,503.60 $1,217.84 $0.00 $2,716.84 $484,438.28
210 $484,438.28 $1,217.84 $0.00 $2,739.08 $488,395.20
211 $488,395.20 $1,217.84 $0.00 $2,761.46 $492,374.50
212 $492,374.50 $1,217.84 $0.00 $2,783.96 $496,376.30
213 $496,376.30 $1,217.84 $0.00 $2,806.58 $500,400.72
214 $500,400.72 $1,217.84 $0.00 $2,829.34 $504,447.90
215 $504,447.90 $1,217.84 $0.00 $2,852.22 $508,517.96
216 $508,517.96 $1,217.84 $0.00 $2,875.23 $512,611.03
217 $512,611.03 $1,217.84 $142,777.50 $2,898.38 $373,949.75
218 $373,949.75 $1,217.84 $0.00 $2,114.37 $377,281.96
219 $377,281.96 $1,217.84 $0.00 $2,133.21 $380,633.01
220 $380,633.01 $1,217.84 $0.00 $2,152.15 $384,003.00
221 $384,003.00 $1,217.84 $0.00 $2,171.21 $387,392.05
222 $387,392.05 $1,217.84 $0.00 $2,190.37 $390,800.26
223 $390,800.26 $1,217.84 $0.00 $2,209.64 $394,227.74
224 $394,227.74 $1,217.84 $0.00 $2,229.02 $397,674.60
225 $397,674.60 $1,217.84 $0.00 $2,248.51 $401,140.95
226 $401,140.95 $1,217.84 $0.00 $2,268.11 $404,626.90
227 $404,626.90 $1,217.84 $0.00 $2,287.82 $408,132.56
228 $408,132.56 $1,217.84 $0.00 $2,307.64 $411,658.04
229 $411,658.04 $1,217.84 $149,916.37 $2,327.57 $265,287.08
230 $265,287.08 $1,217.84 $0.00 $1,499.97 $268,004.89
231 $268,004.89 $1,217.84 $0.00 $1,515.34 $270,738.07
232 $270,738.07 $1,217.84 $0.00 $1,530.79 $273,486.70
233 $273,486.70 $1,217.84 $0.00 $1,546.33 $276,250.87
234 $276,250.87 $1,217.84 $0.00 $1,561.96 $279,030.67
235 $279,030.67 $1,217.84 $0.00 $1,577.68 $281,826.19
236 $281,826.19 $1,217.84 $0.00 $1,593.49 $284,637.52
237 $284,637.52 $1,217.84 $0.00 $1,609.38 $287,464.74
238 $287,464.74 $1,217.84 $0.00 $1,625.37 $290,307.95
239 $290,307.95 $1,217.84 $0.00 $1,641.44 $293,167.23
240 $293,167.23 $1,217.84 $0.00 $1,657.61 $296,042.68
241 $296,042.68 $1,217.84 $157,412.19 $1,673.87 $141,522.20
242 $141,522.20 $1,217.84 $0.00 $800.19 $143,540.23
243 $143,540.23 $1,217.84 $0.00 $811.60 $145,569.67
244 $145,569.67 $1,217.84 $0.00 $823.07 $147,610.58
245 $147,610.58 $1,217.84 $0.00 $834.61 $149,663.03
246 $149,663.03 $1,217.84 $0.00 $846.22 $151,727.09
247 $151,727.09 $1,217.84 $0.00 $857.89 $153,802.82
248 $153,802.82 $1,217.84 $0.00 $869.62 $155,890.28
249 $155,890.28 $1,217.84 $0.00 $881.43 $157,989.55
250 $157,989.55 $1,217.84 $0.00 $893.30 $160,100.69
251 $160,100.69 $1,217.84 $0.00 $905.23 $162,223.76
252 $162,223.76 $1,217.84 $0.00 $917.24 $164,358.84
253 $164,358.84 $0.00 $165,282.80 $929.31 $5.35