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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$130,189
Monthly savings required$1,031

How much will it cost to send your child to Virginia Wesleyan College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $520,757.54 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,030.55 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$50,204.00
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 $1,030.55 $0.00 $0.00 $1,030.55
2 $1,030.55 $1,030.55 $0.00 $5.83 $2,066.93
3 $2,066.93 $1,030.55 $0.00 $11.69 $3,109.17
4 $3,109.17 $1,030.55 $0.00 $17.58 $4,157.30
5 $4,157.30 $1,030.55 $0.00 $23.51 $5,211.36
6 $5,211.36 $1,030.55 $0.00 $29.47 $6,271.38
7 $6,271.38 $1,030.55 $0.00 $35.46 $7,337.39
8 $7,337.39 $1,030.55 $0.00 $41.49 $8,409.43
9 $8,409.43 $1,030.55 $0.00 $47.55 $9,487.53
10 $9,487.53 $1,030.55 $0.00 $53.64 $10,571.72
11 $10,571.72 $1,030.55 $0.00 $59.77 $11,662.04
12 $11,662.04 $1,030.55 $0.00 $65.94 $12,758.53
13 $12,758.53 $1,030.55 $0.00 $72.14 $13,861.22
14 $13,861.22 $1,030.55 $0.00 $78.37 $14,970.14
15 $14,970.14 $1,030.55 $0.00 $84.64 $16,085.33
16 $16,085.33 $1,030.55 $0.00 $90.95 $17,206.83
17 $17,206.83 $1,030.55 $0.00 $97.29 $18,334.67
18 $18,334.67 $1,030.55 $0.00 $103.67 $19,468.89
19 $19,468.89 $1,030.55 $0.00 $110.08 $20,609.52
20 $20,609.52 $1,030.55 $0.00 $116.53 $21,756.60
21 $21,756.60 $1,030.55 $0.00 $123.01 $22,910.16
22 $22,910.16 $1,030.55 $0.00 $129.54 $24,070.25
23 $24,070.25 $1,030.55 $0.00 $136.10 $25,236.90
24 $25,236.90 $1,030.55 $0.00 $142.69 $26,410.14
25 $26,410.14 $1,030.55 $0.00 $149.33 $27,590.02
26 $27,590.02 $1,030.55 $0.00 $156.00 $28,776.57
27 $28,776.57 $1,030.55 $0.00 $162.71 $29,969.83
28 $29,969.83 $1,030.55 $0.00 $169.45 $31,169.83
29 $31,169.83 $1,030.55 $0.00 $176.24 $32,376.62
30 $32,376.62 $1,030.55 $0.00 $183.06 $33,590.23
31 $33,590.23 $1,030.55 $0.00 $189.92 $34,810.70
32 $34,810.70 $1,030.55 $0.00 $196.82 $36,038.07
33 $36,038.07 $1,030.55 $0.00 $203.76 $37,272.38
34 $37,272.38 $1,030.55 $0.00 $210.74 $38,513.67
35 $38,513.67 $1,030.55 $0.00 $217.76 $39,761.98
36 $39,761.98 $1,030.55 $0.00 $224.82 $41,017.35
37 $41,017.35 $1,030.55 $0.00 $231.92 $42,279.82
38 $42,279.82 $1,030.55 $0.00 $239.06 $43,549.43
39 $43,549.43 $1,030.55 $0.00 $246.23 $44,826.21
40 $44,826.21 $1,030.55 $0.00 $253.45 $46,110.21
41 $46,110.21 $1,030.55 $0.00 $260.71 $47,401.47
42 $47,401.47 $1,030.55 $0.00 $268.01 $48,700.03
43 $48,700.03 $1,030.55 $0.00 $275.36 $50,005.94
44 $50,005.94 $1,030.55 $0.00 $282.74 $51,319.23
45 $51,319.23 $1,030.55 $0.00 $290.17 $52,639.95
46 $52,639.95 $1,030.55 $0.00 $297.63 $53,968.13
47 $53,968.13 $1,030.55 $0.00 $305.14 $55,303.82
48 $55,303.82 $1,030.55 $0.00 $312.70 $56,647.07
49 $56,647.07 $1,030.55 $0.00 $320.29 $57,997.91
50 $57,997.91 $1,030.55 $0.00 $327.93 $59,356.39
51 $59,356.39 $1,030.55 $0.00 $335.61 $60,722.55
52 $60,722.55 $1,030.55 $0.00 $343.33 $62,096.43
53 $62,096.43 $1,030.55 $0.00 $351.10 $63,478.08
54 $63,478.08 $1,030.55 $0.00 $358.91 $64,867.54
55 $64,867.54 $1,030.55 $0.00 $366.77 $66,264.86
56 $66,264.86 $1,030.55 $0.00 $374.67 $67,670.08
57 $67,670.08 $1,030.55 $0.00 $382.62 $69,083.25
58 $69,083.25 $1,030.55 $0.00 $390.61 $70,504.41
59 $70,504.41 $1,030.55 $0.00 $398.64 $71,933.60
60 $71,933.60 $1,030.55 $0.00 $406.72 $73,370.87
61 $73,370.87 $1,030.55 $0.00 $414.85 $74,816.27
62 $74,816.27 $1,030.55 $0.00 $423.02 $76,269.84
63 $76,269.84 $1,030.55 $0.00 $431.24 $77,731.63
64 $77,731.63 $1,030.55 $0.00 $439.51 $79,201.69
65 $79,201.69 $1,030.55 $0.00 $447.82 $80,680.06
66 $80,680.06 $1,030.55 $0.00 $456.18 $82,166.79
67 $82,166.79 $1,030.55 $0.00 $464.58 $83,661.92
68 $83,661.92 $1,030.55 $0.00 $473.04 $85,165.51
69 $85,165.51 $1,030.55 $0.00 $481.54 $86,677.60
70 $86,677.60 $1,030.55 $0.00 $490.09 $88,198.24
71 $88,198.24 $1,030.55 $0.00 $498.69 $89,727.48
72 $89,727.48 $1,030.55 $0.00 $507.33 $91,265.36
73 $91,265.36 $1,030.55 $0.00 $516.03 $92,811.94
74 $92,811.94 $1,030.55 $0.00 $524.77 $94,367.26
75 $94,367.26 $1,030.55 $0.00 $533.57 $95,931.38
76 $95,931.38 $1,030.55 $0.00 $542.41 $97,504.34
77 $97,504.34 $1,030.55 $0.00 $551.30 $99,086.19
78 $99,086.19 $1,030.55 $0.00 $560.25 $100,676.99
79 $100,676.99 $1,030.55 $0.00 $569.24 $102,276.78
80 $102,276.78 $1,030.55 $0.00 $578.29 $103,885.62
81 $103,885.62 $1,030.55 $0.00 $587.38 $105,503.55
82 $105,503.55 $1,030.55 $0.00 $596.53 $107,130.63
83 $107,130.63 $1,030.55 $0.00 $605.73 $108,766.91
84 $108,766.91 $1,030.55 $0.00 $614.98 $110,412.44
85 $110,412.44 $1,030.55 $0.00 $624.29 $112,067.28
86 $112,067.28 $1,030.55 $0.00 $633.64 $113,731.47
87 $113,731.47 $1,030.55 $0.00 $643.05 $115,405.07
88 $115,405.07 $1,030.55 $0.00 $652.52 $117,088.14
89 $117,088.14 $1,030.55 $0.00 $662.03 $118,780.72
90 $118,780.72 $1,030.55 $0.00 $671.60 $120,482.87
91 $120,482.87 $1,030.55 $0.00 $681.23 $122,194.65
92 $122,194.65 $1,030.55 $0.00 $690.91 $123,916.11
93 $123,916.11 $1,030.55 $0.00 $700.64 $125,647.30
94 $125,647.30 $1,030.55 $0.00 $710.43 $127,388.28
95 $127,388.28 $1,030.55 $0.00 $720.27 $129,139.10
96 $129,139.10 $1,030.55 $0.00 $730.17 $130,899.82
97 $130,899.82 $1,030.55 $0.00 $740.13 $132,670.50
98 $132,670.50 $1,030.55 $0.00 $750.14 $134,451.19
99 $134,451.19 $1,030.55 $0.00 $760.21 $136,241.95
100 $136,241.95 $1,030.55 $0.00 $770.33 $138,042.83
101 $138,042.83 $1,030.55 $0.00 $780.51 $139,853.89
102 $139,853.89 $1,030.55 $0.00 $790.75 $141,675.19
103 $141,675.19 $1,030.55 $0.00 $801.05 $143,506.79
104 $143,506.79 $1,030.55 $0.00 $811.41 $145,348.75
105 $145,348.75 $1,030.55 $0.00 $821.82 $147,201.12
106 $147,201.12 $1,030.55 $0.00 $832.30 $149,063.97
107 $149,063.97 $1,030.55 $0.00 $842.83 $150,937.35
108 $150,937.35 $1,030.55 $0.00 $853.42 $152,821.32
109 $152,821.32 $1,030.55 $0.00 $864.07 $154,715.94
110 $154,715.94 $1,030.55 $0.00 $874.79 $156,621.28
111 $156,621.28 $1,030.55 $0.00 $885.56 $158,537.39
112 $158,537.39 $1,030.55 $0.00 $896.39 $160,464.33
113 $160,464.33 $1,030.55 $0.00 $907.29 $162,402.17
114 $162,402.17 $1,030.55 $0.00 $918.25 $164,350.97
115 $164,350.97 $1,030.55 $0.00 $929.26 $166,310.78
116 $166,310.78 $1,030.55 $0.00 $940.35 $168,281.68
117 $168,281.68 $1,030.55 $0.00 $951.49 $170,263.72
118 $170,263.72 $1,030.55 $0.00 $962.70 $172,256.97
119 $172,256.97 $1,030.55 $0.00 $973.97 $174,261.49
120 $174,261.49 $1,030.55 $0.00 $985.30 $176,277.34
121 $176,277.34 $1,030.55 $0.00 $996.70 $178,304.59
122 $178,304.59 $1,030.55 $0.00 $1,008.16 $180,343.30
123 $180,343.30 $1,030.55 $0.00 $1,019.69 $182,393.54
124 $182,393.54 $1,030.55 $0.00 $1,031.28 $184,455.37
125 $184,455.37 $1,030.55 $0.00 $1,042.94 $186,528.86
126 $186,528.86 $1,030.55 $0.00 $1,054.66 $188,614.07
127 $188,614.07 $1,030.55 $0.00 $1,066.45 $190,711.07
128 $190,711.07 $1,030.55 $0.00 $1,078.31 $192,819.93
129 $192,819.93 $1,030.55 $0.00 $1,090.23 $194,940.71
130 $194,940.71 $1,030.55 $0.00 $1,102.22 $197,073.48
131 $197,073.48 $1,030.55 $0.00 $1,114.28 $199,218.31
132 $199,218.31 $1,030.55 $0.00 $1,126.41 $201,375.27
133 $201,375.27 $1,030.55 $0.00 $1,138.61 $203,544.43
134 $203,544.43 $1,030.55 $0.00 $1,150.87 $205,725.85
135 $205,725.85 $1,030.55 $0.00 $1,163.20 $207,919.60
136 $207,919.60 $1,030.55 $0.00 $1,175.61 $210,125.76
137 $210,125.76 $1,030.55 $0.00 $1,188.08 $212,344.39
138 $212,344.39 $1,030.55 $0.00 $1,200.63 $214,575.57
139 $214,575.57 $1,030.55 $0.00 $1,213.24 $216,819.36
140 $216,819.36 $1,030.55 $0.00 $1,225.93 $219,075.84
141 $219,075.84 $1,030.55 $0.00 $1,238.69 $221,345.08
142 $221,345.08 $1,030.55 $0.00 $1,251.52 $223,627.15
143 $223,627.15 $1,030.55 $0.00 $1,264.42 $225,922.12
144 $225,922.12 $1,030.55 $0.00 $1,277.40 $228,230.07
145 $228,230.07 $1,030.55 $0.00 $1,290.45 $230,551.07
146 $230,551.07 $1,030.55 $0.00 $1,303.57 $232,885.19
147 $232,885.19 $1,030.55 $0.00 $1,316.77 $235,232.51
148 $235,232.51 $1,030.55 $0.00 $1,330.04 $237,593.10
149 $237,593.10 $1,030.55 $0.00 $1,343.39 $239,967.04
150 $239,967.04 $1,030.55 $0.00 $1,356.81 $242,354.40
151 $242,354.40 $1,030.55 $0.00 $1,370.31 $244,755.26
152 $244,755.26 $1,030.55 $0.00 $1,383.88 $247,169.69
153 $247,169.69 $1,030.55 $0.00 $1,397.53 $249,597.77
154 $249,597.77 $1,030.55 $0.00 $1,411.26 $252,039.58
155 $252,039.58 $1,030.55 $0.00 $1,425.07 $254,495.20
156 $254,495.20 $1,030.55 $0.00 $1,438.95 $256,964.70
157 $256,964.70 $1,030.55 $0.00 $1,452.92 $259,448.17
158 $259,448.17 $1,030.55 $0.00 $1,466.96 $261,945.68
159 $261,945.68 $1,030.55 $0.00 $1,481.08 $264,457.31
160 $264,457.31 $1,030.55 $0.00 $1,495.28 $266,983.14
161 $266,983.14 $1,030.55 $0.00 $1,509.56 $269,523.25
162 $269,523.25 $1,030.55 $0.00 $1,523.92 $272,077.72
163 $272,077.72 $1,030.55 $0.00 $1,538.37 $274,646.64
164 $274,646.64 $1,030.55 $0.00 $1,552.89 $277,230.08
165 $277,230.08 $1,030.55 $0.00 $1,567.50 $279,828.13
166 $279,828.13 $1,030.55 $0.00 $1,582.19 $282,440.87
167 $282,440.87 $1,030.55 $0.00 $1,596.96 $285,068.38
168 $285,068.38 $1,030.55 $0.00 $1,611.82 $287,710.75
169 $287,710.75 $1,030.55 $0.00 $1,626.76 $290,368.06
170 $290,368.06 $1,030.55 $0.00 $1,641.78 $293,040.39
171 $293,040.39 $1,030.55 $0.00 $1,656.89 $295,727.83
172 $295,727.83 $1,030.55 $0.00 $1,672.09 $298,430.47
173 $298,430.47 $1,030.55 $0.00 $1,687.37 $301,148.39
174 $301,148.39 $1,030.55 $0.00 $1,702.74 $303,881.68
175 $303,881.68 $1,030.55 $0.00 $1,718.19 $306,630.42
176 $306,630.42 $1,030.55 $0.00 $1,733.73 $309,394.70
177 $309,394.70 $1,030.55 $0.00 $1,749.36 $312,174.61
178 $312,174.61 $1,030.55 $0.00 $1,765.08 $314,970.24
179 $314,970.24 $1,030.55 $0.00 $1,780.89 $317,781.68
180 $317,781.68 $1,030.55 $0.00 $1,796.78 $320,609.01
181 $320,609.01 $1,030.55 $0.00 $1,812.77 $323,452.33
182 $323,452.33 $1,030.55 $0.00 $1,828.85 $326,311.73
183 $326,311.73 $1,030.55 $0.00 $1,845.01 $329,187.29
184 $329,187.29 $1,030.55 $0.00 $1,861.27 $332,079.11
185 $332,079.11 $1,030.55 $0.00 $1,877.62 $334,987.28
186 $334,987.28 $1,030.55 $0.00 $1,894.07 $337,911.90
187 $337,911.90 $1,030.55 $0.00 $1,910.60 $340,853.05
188 $340,853.05 $1,030.55 $0.00 $1,927.23 $343,810.83
189 $343,810.83 $1,030.55 $0.00 $1,943.96 $346,785.34
190 $346,785.34 $1,030.55 $0.00 $1,960.77 $349,776.66
191 $349,776.66 $1,030.55 $0.00 $1,977.69 $352,784.90
192 $352,784.90 $1,030.55 $0.00 $1,994.70 $355,810.15
193 $355,810.15 $1,030.55 $0.00 $2,011.80 $358,852.50
194 $358,852.50 $1,030.55 $0.00 $2,029.00 $361,912.05
195 $361,912.05 $1,030.55 $0.00 $2,046.30 $364,988.90
196 $364,988.90 $1,030.55 $0.00 $2,063.70 $368,083.15
197 $368,083.15 $1,030.55 $0.00 $2,081.20 $371,194.90
198 $371,194.90 $1,030.55 $0.00 $2,098.79 $374,324.24
199 $374,324.24 $1,030.55 $0.00 $2,116.48 $377,471.27
200 $377,471.27 $1,030.55 $0.00 $2,134.28 $380,636.10
201 $380,636.10 $1,030.55 $0.00 $2,152.17 $383,818.82
202 $383,818.82 $1,030.55 $0.00 $2,170.17 $387,019.54
203 $387,019.54 $1,030.55 $0.00 $2,188.26 $390,238.35
204 $390,238.35 $1,030.55 $0.00 $2,206.46 $393,475.36
205 $393,475.36 $1,030.55 $0.00 $2,224.77 $396,730.68
206 $396,730.68 $1,030.55 $0.00 $2,243.17 $400,004.40
207 $400,004.40 $1,030.55 $0.00 $2,261.68 $403,296.63
208 $403,296.63 $1,030.55 $0.00 $2,280.30 $406,607.48
209 $406,607.48 $1,030.55 $0.00 $2,299.02 $409,937.05
210 $409,937.05 $1,030.55 $0.00 $2,317.84 $413,285.44
211 $413,285.44 $1,030.55 $0.00 $2,336.78 $416,652.77
212 $416,652.77 $1,030.55 $0.00 $2,355.82 $420,039.14
213 $420,039.14 $1,030.55 $0.00 $2,374.96 $423,444.65
214 $423,444.65 $1,030.55 $0.00 $2,394.22 $426,869.42
215 $426,869.42 $1,030.55 $0.00 $2,413.58 $430,313.55
216 $430,313.55 $1,030.55 $0.00 $2,433.06 $433,777.16
217 $433,777.16 $1,030.55 $120,821.91 $2,452.64 $316,438.44
218 $316,438.44 $1,030.55 $0.00 $1,789.19 $319,258.18
219 $319,258.18 $1,030.55 $0.00 $1,805.13 $322,093.86
220 $322,093.86 $1,030.55 $0.00 $1,821.17 $324,945.58
221 $324,945.58 $1,030.55 $0.00 $1,837.29 $327,813.42
222 $327,813.42 $1,030.55 $0.00 $1,853.50 $330,697.47
223 $330,697.47 $1,030.55 $0.00 $1,869.81 $333,597.83
224 $333,597.83 $1,030.55 $0.00 $1,886.21 $336,514.59
225 $336,514.59 $1,030.55 $0.00 $1,902.70 $339,447.84
226 $339,447.84 $1,030.55 $0.00 $1,919.29 $342,397.68
227 $342,397.68 $1,030.55 $0.00 $1,935.97 $345,364.20
228 $345,364.20 $1,030.55 $0.00 $1,952.74 $348,347.49
229 $348,347.49 $1,030.55 $126,863.01 $1,969.61 $224,484.64
230 $224,484.64 $1,030.55 $0.00 $1,269.27 $226,784.46
231 $226,784.46 $1,030.55 $0.00 $1,282.27 $229,097.28
232 $229,097.28 $1,030.55 $0.00 $1,295.35 $231,423.18
233 $231,423.18 $1,030.55 $0.00 $1,308.50 $233,762.23
234 $233,762.23 $1,030.55 $0.00 $1,321.73 $236,114.51
235 $236,114.51 $1,030.55 $0.00 $1,335.03 $238,480.09
236 $238,480.09 $1,030.55 $0.00 $1,348.40 $240,859.04
237 $240,859.04 $1,030.55 $0.00 $1,361.85 $243,251.44
238 $243,251.44 $1,030.55 $0.00 $1,375.38 $245,657.37
239 $245,657.37 $1,030.55 $0.00 $1,388.98 $248,076.90
240 $248,076.90 $1,030.55 $0.00 $1,402.66 $250,510.11
241 $250,510.11 $1,030.55 $133,206.16 $1,416.42 $119,750.92
242 $119,750.92 $1,030.55 $0.00 $677.09 $121,458.56
243 $121,458.56 $1,030.55 $0.00 $686.74 $123,175.85
244 $123,175.85 $1,030.55 $0.00 $696.45 $124,902.85
245 $124,902.85 $1,030.55 $0.00 $706.22 $126,639.62
246 $126,639.62 $1,030.55 $0.00 $716.04 $128,386.21
247 $128,386.21 $1,030.55 $0.00 $725.91 $130,142.67
248 $130,142.67 $1,030.55 $0.00 $735.85 $131,909.07
249 $131,909.07 $1,030.55 $0.00 $745.83 $133,685.45
250 $133,685.45 $1,030.55 $0.00 $755.88 $135,471.88
251 $135,471.88 $1,030.55 $0.00 $765.98 $137,268.41
252 $137,268.41 $1,030.55 $0.00 $776.14 $139,075.10
253 $139,075.10 $0.00 $139,866.47 $786.35 ($5.02)