Savings Plan and Future Cost Estimation for University of Richmond

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$290,117
Monthly savings required$2,293

How much will it cost to send your child to University of Richmond in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $1,160,468.63 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $2,292.86 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$77,330.00
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 $2,292.86 $0.00 $0.00 $2,292.86
2 $2,292.86 $2,292.86 $0.00 $12.96 $4,598.68
3 $4,598.68 $2,292.86 $0.00 $26.00 $6,917.54
4 $6,917.54 $2,292.86 $0.00 $39.11 $9,249.51
5 $9,249.51 $2,292.86 $0.00 $52.30 $11,594.67
6 $11,594.67 $2,292.86 $0.00 $65.56 $13,953.09
7 $13,953.09 $2,292.86 $0.00 $78.89 $16,324.84
8 $16,324.84 $2,292.86 $0.00 $92.30 $18,710.00
9 $18,710.00 $2,292.86 $0.00 $105.79 $21,108.65
10 $21,108.65 $2,292.86 $0.00 $119.35 $23,520.86
11 $23,520.86 $2,292.86 $0.00 $132.99 $25,946.71
12 $25,946.71 $2,292.86 $0.00 $146.71 $28,386.28
13 $28,386.28 $2,292.86 $0.00 $160.50 $30,839.64
14 $30,839.64 $2,292.86 $0.00 $174.37 $33,306.87
15 $33,306.87 $2,292.86 $0.00 $188.32 $35,788.05
16 $35,788.05 $2,292.86 $0.00 $202.35 $38,283.26
17 $38,283.26 $2,292.86 $0.00 $216.46 $40,792.58
18 $40,792.58 $2,292.86 $0.00 $230.65 $43,316.09
19 $43,316.09 $2,292.86 $0.00 $244.92 $45,853.87
20 $45,853.87 $2,292.86 $0.00 $259.26 $48,405.99
21 $48,405.99 $2,292.86 $0.00 $273.69 $50,972.54
22 $50,972.54 $2,292.86 $0.00 $288.21 $53,553.61
23 $53,553.61 $2,292.86 $0.00 $302.80 $56,149.27
24 $56,149.27 $2,292.86 $0.00 $317.48 $58,759.61
25 $58,759.61 $2,292.86 $0.00 $332.24 $61,384.71
26 $61,384.71 $2,292.86 $0.00 $347.08 $64,024.65
27 $64,024.65 $2,292.86 $0.00 $362.00 $66,679.51
28 $66,679.51 $2,292.86 $0.00 $377.02 $69,349.39
29 $69,349.39 $2,292.86 $0.00 $392.11 $72,034.36
30 $72,034.36 $2,292.86 $0.00 $407.29 $74,734.51
31 $74,734.51 $2,292.86 $0.00 $422.56 $77,449.93
32 $77,449.93 $2,292.86 $0.00 $437.91 $80,180.70
33 $80,180.70 $2,292.86 $0.00 $453.35 $82,926.91
34 $82,926.91 $2,292.86 $0.00 $468.88 $85,688.65
35 $85,688.65 $2,292.86 $0.00 $484.50 $88,466.01
36 $88,466.01 $2,292.86 $0.00 $500.20 $91,259.07
37 $91,259.07 $2,292.86 $0.00 $515.99 $94,067.92
38 $94,067.92 $2,292.86 $0.00 $531.87 $96,892.65
39 $96,892.65 $2,292.86 $0.00 $547.85 $99,733.36
40 $99,733.36 $2,292.86 $0.00 $563.91 $102,590.13
41 $102,590.13 $2,292.86 $0.00 $580.06 $105,463.05
42 $105,463.05 $2,292.86 $0.00 $596.30 $108,352.21
43 $108,352.21 $2,292.86 $0.00 $612.64 $111,257.71
44 $111,257.71 $2,292.86 $0.00 $629.07 $114,179.64
45 $114,179.64 $2,292.86 $0.00 $645.59 $117,118.09
46 $117,118.09 $2,292.86 $0.00 $662.20 $120,073.15
47 $120,073.15 $2,292.86 $0.00 $678.91 $123,044.92
48 $123,044.92 $2,292.86 $0.00 $695.71 $126,033.49
49 $126,033.49 $2,292.86 $0.00 $712.61 $129,038.96
50 $129,038.96 $2,292.86 $0.00 $729.61 $132,061.43
51 $132,061.43 $2,292.86 $0.00 $746.69 $135,100.98
52 $135,100.98 $2,292.86 $0.00 $763.88 $138,157.72
53 $138,157.72 $2,292.86 $0.00 $781.16 $141,231.74
54 $141,231.74 $2,292.86 $0.00 $798.54 $144,323.14
55 $144,323.14 $2,292.86 $0.00 $816.02 $147,432.02
56 $147,432.02 $2,292.86 $0.00 $833.60 $150,558.48
57 $150,558.48 $2,292.86 $0.00 $851.28 $153,702.62
58 $153,702.62 $2,292.86 $0.00 $869.06 $156,864.54
59 $156,864.54 $2,292.86 $0.00 $886.93 $160,044.33
60 $160,044.33 $2,292.86 $0.00 $904.91 $163,242.10
61 $163,242.10 $2,292.86 $0.00 $922.99 $166,457.95
62 $166,457.95 $2,292.86 $0.00 $941.18 $169,691.99
63 $169,691.99 $2,292.86 $0.00 $959.46 $172,944.31
64 $172,944.31 $2,292.86 $0.00 $977.85 $176,215.02
65 $176,215.02 $2,292.86 $0.00 $996.35 $179,504.23
66 $179,504.23 $2,292.86 $0.00 $1,014.94 $182,812.03
67 $182,812.03 $2,292.86 $0.00 $1,033.65 $186,138.54
68 $186,138.54 $2,292.86 $0.00 $1,052.45 $189,483.85
69 $189,483.85 $2,292.86 $0.00 $1,071.37 $192,848.08
70 $192,848.08 $2,292.86 $0.00 $1,090.39 $196,231.33
71 $196,231.33 $2,292.86 $0.00 $1,109.52 $199,633.71
72 $199,633.71 $2,292.86 $0.00 $1,128.76 $203,055.33
73 $203,055.33 $2,292.86 $0.00 $1,148.10 $206,496.29
74 $206,496.29 $2,292.86 $0.00 $1,167.56 $209,956.71
75 $209,956.71 $2,292.86 $0.00 $1,187.13 $213,436.70
76 $213,436.70 $2,292.86 $0.00 $1,206.80 $216,936.36
77 $216,936.36 $2,292.86 $0.00 $1,226.59 $220,455.81
78 $220,455.81 $2,292.86 $0.00 $1,246.49 $223,995.16
79 $223,995.16 $2,292.86 $0.00 $1,266.50 $227,554.52
80 $227,554.52 $2,292.86 $0.00 $1,286.63 $231,134.01
81 $231,134.01 $2,292.86 $0.00 $1,306.87 $234,733.74
82 $234,733.74 $2,292.86 $0.00 $1,327.22 $238,353.82
83 $238,353.82 $2,292.86 $0.00 $1,347.69 $241,994.37
84 $241,994.37 $2,292.86 $0.00 $1,368.27 $245,655.50
85 $245,655.50 $2,292.86 $0.00 $1,388.97 $249,337.33
86 $249,337.33 $2,292.86 $0.00 $1,409.79 $253,039.98
87 $253,039.98 $2,292.86 $0.00 $1,430.72 $256,763.56
88 $256,763.56 $2,292.86 $0.00 $1,451.78 $260,508.20
89 $260,508.20 $2,292.86 $0.00 $1,472.95 $264,274.01
90 $264,274.01 $2,292.86 $0.00 $1,494.24 $268,061.11
91 $268,061.11 $2,292.86 $0.00 $1,515.66 $271,869.63
92 $271,869.63 $2,292.86 $0.00 $1,537.19 $275,699.68
93 $275,699.68 $2,292.86 $0.00 $1,558.85 $279,551.39
94 $279,551.39 $2,292.86 $0.00 $1,580.62 $283,424.87
95 $283,424.87 $2,292.86 $0.00 $1,602.53 $287,320.26
96 $287,320.26 $2,292.86 $0.00 $1,624.55 $291,237.67
97 $291,237.67 $2,292.86 $0.00 $1,646.70 $295,177.23
98 $295,177.23 $2,292.86 $0.00 $1,668.97 $299,139.06
99 $299,139.06 $2,292.86 $0.00 $1,691.38 $303,123.30
100 $303,123.30 $2,292.86 $0.00 $1,713.90 $307,130.06
101 $307,130.06 $2,292.86 $0.00 $1,736.56 $311,159.48
102 $311,159.48 $2,292.86 $0.00 $1,759.34 $315,211.68
103 $315,211.68 $2,292.86 $0.00 $1,782.25 $319,286.79
104 $319,286.79 $2,292.86 $0.00 $1,805.29 $323,384.94
105 $323,384.94 $2,292.86 $0.00 $1,828.47 $327,506.27
106 $327,506.27 $2,292.86 $0.00 $1,851.77 $331,650.90
107 $331,650.90 $2,292.86 $0.00 $1,875.20 $335,818.96
108 $335,818.96 $2,292.86 $0.00 $1,898.77 $340,010.59
109 $340,010.59 $2,292.86 $0.00 $1,922.47 $344,225.92
110 $344,225.92 $2,292.86 $0.00 $1,946.30 $348,465.08
111 $348,465.08 $2,292.86 $0.00 $1,970.27 $352,728.21
112 $352,728.21 $2,292.86 $0.00 $1,994.38 $357,015.45
113 $357,015.45 $2,292.86 $0.00 $2,018.62 $361,326.93
114 $361,326.93 $2,292.86 $0.00 $2,042.99 $365,662.78
115 $365,662.78 $2,292.86 $0.00 $2,067.51 $370,023.15
116 $370,023.15 $2,292.86 $0.00 $2,092.16 $374,408.17
117 $374,408.17 $2,292.86 $0.00 $2,116.96 $378,817.99
118 $378,817.99 $2,292.86 $0.00 $2,141.89 $383,252.74
119 $383,252.74 $2,292.86 $0.00 $2,166.97 $387,712.57
120 $387,712.57 $2,292.86 $0.00 $2,192.18 $392,197.61
121 $392,197.61 $2,292.86 $0.00 $2,217.54 $396,708.01
122 $396,708.01 $2,292.86 $0.00 $2,243.04 $401,243.91
123 $401,243.91 $2,292.86 $0.00 $2,268.69 $405,805.46
124 $405,805.46 $2,292.86 $0.00 $2,294.48 $410,392.80
125 $410,392.80 $2,292.86 $0.00 $2,320.42 $415,006.08
126 $415,006.08 $2,292.86 $0.00 $2,346.50 $419,645.44
127 $419,645.44 $2,292.86 $0.00 $2,372.74 $424,311.04
128 $424,311.04 $2,292.86 $0.00 $2,399.12 $429,003.02
129 $429,003.02 $2,292.86 $0.00 $2,425.65 $433,721.53
130 $433,721.53 $2,292.86 $0.00 $2,452.32 $438,466.71
131 $438,466.71 $2,292.86 $0.00 $2,479.15 $443,238.72
132 $443,238.72 $2,292.86 $0.00 $2,506.14 $448,037.72
133 $448,037.72 $2,292.86 $0.00 $2,533.27 $452,863.85
134 $452,863.85 $2,292.86 $0.00 $2,560.56 $457,717.27
135 $457,717.27 $2,292.86 $0.00 $2,588.00 $462,598.13
136 $462,598.13 $2,292.86 $0.00 $2,615.60 $467,506.59
137 $467,506.59 $2,292.86 $0.00 $2,643.35 $472,442.80
138 $472,442.80 $2,292.86 $0.00 $2,671.26 $477,406.92
139 $477,406.92 $2,292.86 $0.00 $2,699.33 $482,399.11
140 $482,399.11 $2,292.86 $0.00 $2,727.55 $487,419.52
141 $487,419.52 $2,292.86 $0.00 $2,755.94 $492,468.32
142 $492,468.32 $2,292.86 $0.00 $2,784.49 $497,545.67
143 $497,545.67 $2,292.86 $0.00 $2,813.20 $502,651.73
144 $502,651.73 $2,292.86 $0.00 $2,842.07 $507,786.66
145 $507,786.66 $2,292.86 $0.00 $2,871.10 $512,950.62
146 $512,950.62 $2,292.86 $0.00 $2,900.30 $518,143.78
147 $518,143.78 $2,292.86 $0.00 $2,929.66 $523,366.30
148 $523,366.30 $2,292.86 $0.00 $2,959.19 $528,618.35
149 $528,618.35 $2,292.86 $0.00 $2,988.89 $533,900.10
150 $533,900.10 $2,292.86 $0.00 $3,018.75 $539,211.71
151 $539,211.71 $2,292.86 $0.00 $3,048.78 $544,553.35
152 $544,553.35 $2,292.86 $0.00 $3,078.98 $549,925.19
153 $549,925.19 $2,292.86 $0.00 $3,109.36 $555,327.41
154 $555,327.41 $2,292.86 $0.00 $3,139.90 $560,760.17
155 $560,760.17 $2,292.86 $0.00 $3,170.62 $566,223.65
156 $566,223.65 $2,292.86 $0.00 $3,201.51 $571,718.02
157 $571,718.02 $2,292.86 $0.00 $3,232.58 $577,243.46
158 $577,243.46 $2,292.86 $0.00 $3,263.82 $582,800.14
159 $582,800.14 $2,292.86 $0.00 $3,295.24 $588,388.24
160 $588,388.24 $2,292.86 $0.00 $3,326.83 $594,007.93
161 $594,007.93 $2,292.86 $0.00 $3,358.61 $599,659.40
162 $599,659.40 $2,292.86 $0.00 $3,390.56 $605,342.82
163 $605,342.82 $2,292.86 $0.00 $3,422.70 $611,058.38
164 $611,058.38 $2,292.86 $0.00 $3,455.01 $616,806.25
165 $616,806.25 $2,292.86 $0.00 $3,487.51 $622,586.62
166 $622,586.62 $2,292.86 $0.00 $3,520.20 $628,399.68
167 $628,399.68 $2,292.86 $0.00 $3,553.06 $634,245.60
168 $634,245.60 $2,292.86 $0.00 $3,586.12 $640,124.58
169 $640,124.58 $2,292.86 $0.00 $3,619.36 $646,036.80
170 $646,036.80 $2,292.86 $0.00 $3,652.79 $651,982.45
171 $651,982.45 $2,292.86 $0.00 $3,686.40 $657,961.71
172 $657,961.71 $2,292.86 $0.00 $3,720.21 $663,974.78
173 $663,974.78 $2,292.86 $0.00 $3,754.21 $670,021.85
174 $670,021.85 $2,292.86 $0.00 $3,788.40 $676,103.11
175 $676,103.11 $2,292.86 $0.00 $3,822.79 $682,218.76
176 $682,218.76 $2,292.86 $0.00 $3,857.36 $688,368.98
177 $688,368.98 $2,292.86 $0.00 $3,892.14 $694,553.98
178 $694,553.98 $2,292.86 $0.00 $3,927.11 $700,773.95
179 $700,773.95 $2,292.86 $0.00 $3,962.28 $707,029.09
180 $707,029.09 $2,292.86 $0.00 $3,997.65 $713,319.60
181 $713,319.60 $2,292.86 $0.00 $4,033.21 $719,645.67
182 $719,645.67 $2,292.86 $0.00 $4,068.98 $726,007.51
183 $726,007.51 $2,292.86 $0.00 $4,104.95 $732,405.32
184 $732,405.32 $2,292.86 $0.00 $4,141.13 $738,839.31
185 $738,839.31 $2,292.86 $0.00 $4,177.50 $745,309.67
186 $745,309.67 $2,292.86 $0.00 $4,214.09 $751,816.62
187 $751,816.62 $2,292.86 $0.00 $4,250.88 $758,360.36
188 $758,360.36 $2,292.86 $0.00 $4,287.88 $764,941.10
189 $764,941.10 $2,292.86 $0.00 $4,325.09 $771,559.05
190 $771,559.05 $2,292.86 $0.00 $4,362.51 $778,214.42
191 $778,214.42 $2,292.86 $0.00 $4,400.14 $784,907.42
192 $784,907.42 $2,292.86 $0.00 $4,437.98 $791,638.26
193 $791,638.26 $2,292.86 $0.00 $4,476.04 $798,407.16
194 $798,407.16 $2,292.86 $0.00 $4,514.31 $805,214.33
195 $805,214.33 $2,292.86 $0.00 $4,552.80 $812,059.99
196 $812,059.99 $2,292.86 $0.00 $4,591.51 $818,944.36
197 $818,944.36 $2,292.86 $0.00 $4,630.43 $825,867.65
198 $825,867.65 $2,292.86 $0.00 $4,669.58 $832,830.09
199 $832,830.09 $2,292.86 $0.00 $4,708.94 $839,831.89
200 $839,831.89 $2,292.86 $0.00 $4,748.53 $846,873.28
201 $846,873.28 $2,292.86 $0.00 $4,788.34 $853,954.48
202 $853,954.48 $2,292.86 $0.00 $4,828.38 $861,075.72
203 $861,075.72 $2,292.86 $0.00 $4,868.65 $868,237.23
204 $868,237.23 $2,292.86 $0.00 $4,909.14 $875,439.23
205 $875,439.23 $2,292.86 $0.00 $4,949.86 $882,681.95
206 $882,681.95 $2,292.86 $0.00 $4,990.81 $889,965.62
207 $889,965.62 $2,292.86 $0.00 $5,032.00 $897,290.48
208 $897,290.48 $2,292.86 $0.00 $5,073.41 $904,656.75
209 $904,656.75 $2,292.86 $0.00 $5,115.06 $912,064.67
210 $912,064.67 $2,292.86 $0.00 $5,156.95 $919,514.48
211 $919,514.48 $2,292.86 $0.00 $5,199.07 $927,006.41
212 $927,006.41 $2,292.86 $0.00 $5,241.43 $934,540.70
213 $934,540.70 $2,292.86 $0.00 $5,284.03 $942,117.59
214 $942,117.59 $2,292.86 $0.00 $5,326.87 $949,737.32
215 $949,737.32 $2,292.86 $0.00 $5,369.95 $957,400.13
216 $957,400.13 $2,292.86 $0.00 $5,413.28 $965,106.27
217 $965,106.27 $2,292.86 $261,370.16 $5,456.85 $711,485.82
218 $711,485.82 $2,292.86 $0.00 $4,022.84 $717,801.52
219 $717,801.52 $2,292.86 $0.00 $4,058.55 $724,152.93
220 $724,152.93 $2,292.86 $0.00 $4,094.47 $730,540.26
221 $730,540.26 $2,292.86 $0.00 $4,130.58 $736,963.70
222 $736,963.70 $2,292.86 $0.00 $4,166.90 $743,423.46
223 $743,423.46 $2,292.86 $0.00 $4,203.42 $749,919.74
224 $749,919.74 $2,292.86 $0.00 $4,240.16 $756,452.76
225 $756,452.76 $2,292.86 $0.00 $4,277.09 $763,022.71
226 $763,022.71 $2,292.86 $0.00 $4,314.24 $769,629.81
227 $769,629.81 $2,292.86 $0.00 $4,351.60 $776,274.27
228 $776,274.27 $2,292.86 $0.00 $4,389.17 $782,956.30
229 $782,956.30 $2,292.86 $279,666.07 $4,426.95 $510,010.04
230 $510,010.04 $2,292.86 $0.00 $2,883.67 $515,186.57
231 $515,186.57 $2,292.86 $0.00 $2,912.94 $520,392.37
232 $520,392.37 $2,292.86 $0.00 $2,942.37 $525,627.60
233 $525,627.60 $2,292.86 $0.00 $2,971.97 $530,892.43
234 $530,892.43 $2,292.86 $0.00 $3,001.74 $536,187.03
235 $536,187.03 $2,292.86 $0.00 $3,031.68 $541,511.57
236 $541,511.57 $2,292.86 $0.00 $3,061.79 $546,866.22
237 $546,866.22 $2,292.86 $0.00 $3,092.06 $552,251.14
238 $552,251.14 $2,292.86 $0.00 $3,122.51 $557,666.51
239 $557,666.51 $2,292.86 $0.00 $3,153.13 $563,112.50
240 $563,112.50 $2,292.86 $0.00 $3,183.92 $568,589.28
241 $568,589.28 $2,292.86 $299,242.70 $3,214.89 $274,854.33
242 $274,854.33 $2,292.86 $0.00 $1,554.07 $278,701.26
243 $278,701.26 $2,292.86 $0.00 $1,575.82 $282,569.94
244 $282,569.94 $2,292.86 $0.00 $1,597.69 $286,460.49
245 $286,460.49 $2,292.86 $0.00 $1,619.69 $290,373.04
246 $290,373.04 $2,292.86 $0.00 $1,641.81 $294,307.71
247 $294,307.71 $2,292.86 $0.00 $1,664.06 $298,264.63
248 $298,264.63 $2,292.86 $0.00 $1,686.43 $302,243.92
249 $302,243.92 $2,292.86 $0.00 $1,708.93 $306,245.71
250 $306,245.71 $2,292.86 $0.00 $1,731.56 $310,270.13
251 $310,270.13 $2,292.86 $0.00 $1,754.31 $314,317.30
252 $314,317.30 $2,292.86 $0.00 $1,777.20 $318,387.36
253 $318,387.36 $0.00 $320,189.69 $1,800.21 -$2.12