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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$63,406
Monthly savings required$282

How much will it cost to send your child to Virginia College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $126,812.47 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $281.80 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$25,704.00
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 $281.80 $0.00 $0.00 $281.80
2 $281.80 $281.80 $0.00 $1.59 $565.19
3 $565.19 $281.80 $0.00 $3.20 $850.19
4 $850.19 $281.80 $0.00 $4.81 $1,136.80
5 $1,136.80 $281.80 $0.00 $6.43 $1,425.03
6 $1,425.03 $281.80 $0.00 $8.06 $1,714.89
7 $1,714.89 $281.80 $0.00 $9.70 $2,006.39
8 $2,006.39 $281.80 $0.00 $11.34 $2,299.53
9 $2,299.53 $281.80 $0.00 $13.00 $2,594.33
10 $2,594.33 $281.80 $0.00 $14.67 $2,890.80
11 $2,890.80 $281.80 $0.00 $16.35 $3,188.95
12 $3,188.95 $281.80 $0.00 $18.03 $3,488.78
13 $3,488.78 $281.80 $0.00 $19.73 $3,790.31
14 $3,790.31 $281.80 $0.00 $21.43 $4,093.54
15 $4,093.54 $281.80 $0.00 $23.15 $4,398.49
16 $4,398.49 $281.80 $0.00 $24.87 $4,705.16
17 $4,705.16 $281.80 $0.00 $26.60 $5,013.56
18 $5,013.56 $281.80 $0.00 $28.35 $5,323.71
19 $5,323.71 $281.80 $0.00 $30.10 $5,635.61
20 $5,635.61 $281.80 $0.00 $31.86 $5,949.27
21 $5,949.27 $281.80 $0.00 $33.64 $6,264.71
22 $6,264.71 $281.80 $0.00 $35.42 $6,581.93
23 $6,581.93 $281.80 $0.00 $37.22 $6,900.95
24 $6,900.95 $281.80 $0.00 $39.02 $7,221.77
25 $7,221.77 $281.80 $0.00 $40.83 $7,544.40
26 $7,544.40 $281.80 $0.00 $42.66 $7,868.86
27 $7,868.86 $281.80 $0.00 $44.49 $8,195.15
28 $8,195.15 $281.80 $0.00 $46.34 $8,523.29
29 $8,523.29 $281.80 $0.00 $48.19 $8,853.28
30 $8,853.28 $281.80 $0.00 $50.06 $9,185.14
31 $9,185.14 $281.80 $0.00 $51.93 $9,518.87
32 $9,518.87 $281.80 $0.00 $53.82 $9,854.49
33 $9,854.49 $281.80 $0.00 $55.72 $10,192.01
34 $10,192.01 $281.80 $0.00 $57.63 $10,531.44
35 $10,531.44 $281.80 $0.00 $59.55 $10,872.79
36 $10,872.79 $281.80 $0.00 $61.48 $11,216.07
37 $11,216.07 $281.80 $0.00 $63.42 $11,561.29
38 $11,561.29 $281.80 $0.00 $65.37 $11,908.46
39 $11,908.46 $281.80 $0.00 $67.33 $12,257.59
40 $12,257.59 $281.80 $0.00 $69.31 $12,608.70
41 $12,608.70 $281.80 $0.00 $71.29 $12,961.79
42 $12,961.79 $281.80 $0.00 $73.29 $13,316.88
43 $13,316.88 $281.80 $0.00 $75.30 $13,673.98
44 $13,673.98 $281.80 $0.00 $77.31 $14,033.09
45 $14,033.09 $281.80 $0.00 $79.35 $14,394.24
46 $14,394.24 $281.80 $0.00 $81.39 $14,757.43
47 $14,757.43 $281.80 $0.00 $83.44 $15,122.67
48 $15,122.67 $281.80 $0.00 $85.51 $15,489.98
49 $15,489.98 $281.80 $0.00 $87.58 $15,859.36
50 $15,859.36 $281.80 $0.00 $89.67 $16,230.83
51 $16,230.83 $281.80 $0.00 $91.77 $16,604.40
52 $16,604.40 $281.80 $0.00 $93.88 $16,980.08
53 $16,980.08 $281.80 $0.00 $96.01 $17,357.89
54 $17,357.89 $281.80 $0.00 $98.14 $17,737.83
55 $17,737.83 $281.80 $0.00 $100.29 $18,119.92
56 $18,119.92 $281.80 $0.00 $102.45 $18,504.17
57 $18,504.17 $281.80 $0.00 $104.63 $18,890.60
58 $18,890.60 $281.80 $0.00 $106.81 $19,279.21
59 $19,279.21 $281.80 $0.00 $109.01 $19,670.02
60 $19,670.02 $281.80 $0.00 $111.22 $20,063.04
61 $20,063.04 $281.80 $0.00 $113.44 $20,458.28
62 $20,458.28 $281.80 $0.00 $115.67 $20,855.75
63 $20,855.75 $281.80 $0.00 $117.92 $21,255.47
64 $21,255.47 $281.80 $0.00 $120.18 $21,657.45
65 $21,657.45 $281.80 $0.00 $122.45 $22,061.70
66 $22,061.70 $281.80 $0.00 $124.74 $22,468.24
67 $22,468.24 $281.80 $0.00 $127.04 $22,877.08
68 $22,877.08 $281.80 $0.00 $129.35 $23,288.23
69 $23,288.23 $281.80 $0.00 $131.68 $23,701.71
70 $23,701.71 $281.80 $0.00 $134.01 $24,117.52
71 $24,117.52 $281.80 $0.00 $136.36 $24,535.68
72 $24,535.68 $281.80 $0.00 $138.73 $24,956.21
73 $24,956.21 $281.80 $0.00 $141.11 $25,379.12
74 $25,379.12 $281.80 $0.00 $143.50 $25,804.42
75 $25,804.42 $281.80 $0.00 $145.90 $26,232.12
76 $26,232.12 $281.80 $0.00 $148.32 $26,662.24
77 $26,662.24 $281.80 $0.00 $150.75 $27,094.79
78 $27,094.79 $281.80 $0.00 $153.20 $27,529.79
79 $27,529.79 $281.80 $0.00 $155.66 $27,967.25
80 $27,967.25 $281.80 $0.00 $158.13 $28,407.18
81 $28,407.18 $281.80 $0.00 $160.62 $28,849.60
82 $28,849.60 $281.80 $0.00 $163.12 $29,294.52
83 $29,294.52 $281.80 $0.00 $165.64 $29,741.96
84 $29,741.96 $281.80 $0.00 $168.17 $30,191.93
85 $30,191.93 $281.80 $0.00 $170.71 $30,644.44
86 $30,644.44 $281.80 $0.00 $173.27 $31,099.51
87 $31,099.51 $281.80 $0.00 $175.84 $31,557.15
88 $31,557.15 $281.80 $0.00 $178.43 $32,017.38
89 $32,017.38 $281.80 $0.00 $181.03 $32,480.21
90 $32,480.21 $281.80 $0.00 $183.65 $32,945.66
91 $32,945.66 $281.80 $0.00 $186.28 $33,413.74
92 $33,413.74 $281.80 $0.00 $188.93 $33,884.47
93 $33,884.47 $281.80 $0.00 $191.59 $34,357.86
94 $34,357.86 $281.80 $0.00 $194.26 $34,833.92
95 $34,833.92 $281.80 $0.00 $196.96 $35,312.68
96 $35,312.68 $281.80 $0.00 $199.66 $35,794.14
97 $35,794.14 $281.80 $0.00 $202.39 $36,278.33
98 $36,278.33 $281.80 $0.00 $205.12 $36,765.25
99 $36,765.25 $281.80 $0.00 $207.88 $37,254.93
100 $37,254.93 $281.80 $0.00 $210.64 $37,747.37
101 $37,747.37 $281.80 $0.00 $213.43 $38,242.60
102 $38,242.60 $281.80 $0.00 $216.23 $38,740.63
103 $38,740.63 $281.80 $0.00 $219.05 $39,241.48
104 $39,241.48 $281.80 $0.00 $221.88 $39,745.16
105 $39,745.16 $281.80 $0.00 $224.72 $40,251.68
106 $40,251.68 $281.80 $0.00 $227.59 $40,761.07
107 $40,761.07 $281.80 $0.00 $230.47 $41,273.34
108 $41,273.34 $281.80 $0.00 $233.37 $41,788.51
109 $41,788.51 $281.80 $0.00 $236.28 $42,306.59
110 $42,306.59 $281.80 $0.00 $239.21 $42,827.60
111 $42,827.60 $281.80 $0.00 $242.15 $43,351.55
112 $43,351.55 $281.80 $0.00 $245.12 $43,878.47
113 $43,878.47 $281.80 $0.00 $248.10 $44,408.37
114 $44,408.37 $281.80 $0.00 $251.09 $44,941.26
115 $44,941.26 $281.80 $0.00 $254.10 $45,477.16
116 $45,477.16 $281.80 $0.00 $257.13 $46,016.09
117 $46,016.09 $281.80 $0.00 $260.18 $46,558.07
118 $46,558.07 $281.80 $0.00 $263.25 $47,103.12
119 $47,103.12 $281.80 $0.00 $266.33 $47,651.25
120 $47,651.25 $281.80 $0.00 $269.43 $48,202.48
121 $48,202.48 $281.80 $0.00 $272.54 $48,756.82
122 $48,756.82 $281.80 $0.00 $275.68 $49,314.30
123 $49,314.30 $281.80 $0.00 $278.83 $49,874.93
124 $49,874.93 $281.80 $0.00 $282.00 $50,438.73
125 $50,438.73 $281.80 $0.00 $285.19 $51,005.72
126 $51,005.72 $281.80 $0.00 $288.39 $51,575.91
127 $51,575.91 $281.80 $0.00 $291.62 $52,149.33
128 $52,149.33 $281.80 $0.00 $294.86 $52,725.99
129 $52,725.99 $281.80 $0.00 $298.12 $53,305.91
130 $53,305.91 $281.80 $0.00 $301.40 $53,889.11
131 $53,889.11 $281.80 $0.00 $304.70 $54,475.61
132 $54,475.61 $281.80 $0.00 $308.01 $55,065.42
133 $55,065.42 $281.80 $0.00 $311.35 $55,658.57
134 $55,658.57 $281.80 $0.00 $314.70 $56,255.07
135 $56,255.07 $281.80 $0.00 $318.07 $56,854.94
136 $56,854.94 $281.80 $0.00 $321.47 $57,458.21
137 $57,458.21 $281.80 $0.00 $324.88 $58,064.89
138 $58,064.89 $281.80 $0.00 $328.31 $58,675.00
139 $58,675.00 $281.80 $0.00 $331.76 $59,288.56
140 $59,288.56 $281.80 $0.00 $335.23 $59,905.59
141 $59,905.59 $281.80 $0.00 $338.71 $60,526.10
142 $60,526.10 $281.80 $0.00 $342.22 $61,150.12
143 $61,150.12 $281.80 $0.00 $345.75 $61,777.67
144 $61,777.67 $281.80 $0.00 $349.30 $62,408.77
145 $62,408.77 $281.80 $0.00 $352.87 $63,043.44
146 $63,043.44 $281.80 $0.00 $356.46 $63,681.70
147 $63,681.70 $281.80 $0.00 $360.07 $64,323.57
148 $64,323.57 $281.80 $0.00 $363.69 $64,969.06
149 $64,969.06 $281.80 $0.00 $367.34 $65,618.20
150 $65,618.20 $281.80 $0.00 $371.01 $66,271.01
151 $66,271.01 $281.80 $0.00 $374.71 $66,927.52
152 $66,927.52 $281.80 $0.00 $378.42 $67,587.74
153 $67,587.74 $281.80 $0.00 $382.15 $68,251.69
154 $68,251.69 $281.80 $0.00 $385.90 $68,919.39
155 $68,919.39 $281.80 $0.00 $389.68 $69,590.87
156 $69,590.87 $281.80 $0.00 $393.48 $70,266.15
157 $70,266.15 $281.80 $0.00 $397.30 $70,945.25
158 $70,945.25 $281.80 $0.00 $401.13 $71,628.18
159 $71,628.18 $281.80 $0.00 $405.00 $72,314.98
160 $72,314.98 $281.80 $0.00 $408.88 $73,005.66
161 $73,005.66 $281.80 $0.00 $412.78 $73,700.24
162 $73,700.24 $281.80 $0.00 $416.71 $74,398.75
163 $74,398.75 $281.80 $0.00 $420.66 $75,101.21
164 $75,101.21 $281.80 $0.00 $424.63 $75,807.64
165 $75,807.64 $281.80 $0.00 $428.63 $76,518.07
166 $76,518.07 $281.80 $0.00 $432.64 $77,232.51
167 $77,232.51 $281.80 $0.00 $436.68 $77,950.99
168 $77,950.99 $281.80 $0.00 $440.75 $78,673.54
169 $78,673.54 $281.80 $0.00 $444.83 $79,400.17
170 $79,400.17 $281.80 $0.00 $448.94 $80,130.91
171 $80,130.91 $281.80 $0.00 $453.07 $80,865.78
172 $80,865.78 $281.80 $0.00 $457.23 $81,604.81
173 $81,604.81 $281.80 $0.00 $461.41 $82,348.02
174 $82,348.02 $281.80 $0.00 $465.61 $83,095.43
175 $83,095.43 $281.80 $0.00 $469.83 $83,847.06
176 $83,847.06 $281.80 $0.00 $474.08 $84,602.94
177 $84,602.94 $281.80 $0.00 $478.36 $85,363.10
178 $85,363.10 $281.80 $0.00 $482.66 $86,127.56
179 $86,127.56 $281.80 $0.00 $486.98 $86,896.34
180 $86,896.34 $281.80 $0.00 $491.32 $87,669.46
181 $87,669.46 $281.80 $0.00 $495.70 $88,446.96
182 $88,446.96 $281.80 $0.00 $500.09 $89,228.85
183 $89,228.85 $281.80 $0.00 $504.51 $90,015.16
184 $90,015.16 $281.80 $0.00 $508.96 $90,805.92
185 $90,805.92 $281.80 $0.00 $513.43 $91,601.15
186 $91,601.15 $281.80 $0.00 $517.93 $92,400.88
187 $92,400.88 $281.80 $0.00 $522.45 $93,205.13
188 $93,205.13 $281.80 $0.00 $527.00 $94,013.93
189 $94,013.93 $281.80 $0.00 $531.57 $94,827.30
190 $94,827.30 $281.80 $0.00 $536.17 $95,645.27
191 $95,645.27 $281.80 $0.00 $540.79 $96,467.86
192 $96,467.86 $281.80 $0.00 $545.44 $97,295.10
193 $97,295.10 $281.80 $0.00 $550.12 $98,127.02
194 $98,127.02 $281.80 $0.00 $554.82 $98,963.64
195 $98,963.64 $281.80 $0.00 $559.55 $99,804.99
196 $99,804.99 $281.80 $0.00 $564.31 $100,651.10
197 $100,651.10 $281.80 $0.00 $569.10 $101,502.00
198 $101,502.00 $281.80 $0.00 $573.91 $102,357.71
199 $102,357.71 $281.80 $0.00 $578.75 $103,218.26
200 $103,218.26 $281.80 $0.00 $583.61 $104,083.67
201 $104,083.67 $281.80 $0.00 $588.50 $104,953.97
202 $104,953.97 $281.80 $0.00 $593.43 $105,829.20
203 $105,829.20 $281.80 $0.00 $598.37 $106,709.37
204 $106,709.37 $281.80 $0.00 $603.35 $107,594.52
205 $107,594.52 $281.80 $0.00 $608.36 $108,484.68
206 $108,484.68 $281.80 $0.00 $613.39 $109,379.87
207 $109,379.87 $281.80 $0.00 $618.45 $110,280.12
208 $110,280.12 $281.80 $0.00 $623.54 $111,185.46
209 $111,185.46 $281.80 $0.00 $628.66 $112,095.92
210 $112,095.92 $281.80 $0.00 $633.81 $113,011.53
211 $113,011.53 $281.80 $0.00 $638.98 $113,932.31
212 $113,932.31 $281.80 $0.00 $644.19 $114,858.30
213 $114,858.30 $281.80 $0.00 $649.43 $115,789.53
214 $115,789.53 $281.80 $0.00 $654.69 $116,726.02
215 $116,726.02 $281.80 $0.00 $659.99 $117,667.81
216 $117,667.81 $281.80 $0.00 $665.31 $118,614.92
217 $118,614.92 $281.80 $61,859.74 $670.67 $57,707.65
218 $57,707.65 $281.80 $0.00 $326.29 $58,315.74
219 $58,315.74 $281.80 $0.00 $329.73 $58,927.27
220 $58,927.27 $281.80 $0.00 $333.18 $59,542.25
221 $59,542.25 $281.80 $0.00 $336.66 $60,160.71
222 $60,160.71 $281.80 $0.00 $340.16 $60,782.67
223 $60,782.67 $281.80 $0.00 $343.67 $61,408.14
224 $61,408.14 $281.80 $0.00 $347.21 $62,037.15
225 $62,037.15 $281.80 $0.00 $350.77 $62,669.72
226 $62,669.72 $281.80 $0.00 $354.34 $63,305.86
227 $63,305.86 $281.80 $0.00 $357.94 $63,945.60
228 $63,945.60 $281.80 $0.00 $361.56 $64,588.96
229 $64,588.96 $0.00 $64,952.73 $365.20 $1.43