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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$73,533
Monthly savings required$582

How much will it cost to send your child to Vermont Technical College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $294,131.96 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $582.09 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$28,356.00
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 $582.09 $0.00 $0.00 $582.09
2 $582.09 $582.09 $0.00 $3.29 $1,167.47
3 $1,167.47 $582.09 $0.00 $6.60 $1,756.16
4 $1,756.16 $582.09 $0.00 $9.93 $2,348.18
5 $2,348.18 $582.09 $0.00 $13.28 $2,943.55
6 $2,943.55 $582.09 $0.00 $16.64 $3,542.28
7 $3,542.28 $582.09 $0.00 $20.03 $4,144.40
8 $4,144.40 $582.09 $0.00 $23.43 $4,749.92
9 $4,749.92 $582.09 $0.00 $26.86 $5,358.87
10 $5,358.87 $582.09 $0.00 $30.30 $5,971.26
11 $5,971.26 $582.09 $0.00 $33.76 $6,587.11
12 $6,587.11 $582.09 $0.00 $37.24 $7,206.44
13 $7,206.44 $582.09 $0.00 $40.75 $7,829.28
14 $7,829.28 $582.09 $0.00 $44.27 $8,455.64
15 $8,455.64 $582.09 $0.00 $47.81 $9,085.54
16 $9,085.54 $582.09 $0.00 $51.37 $9,719.00
17 $9,719.00 $582.09 $0.00 $54.95 $10,356.04
18 $10,356.04 $582.09 $0.00 $58.55 $10,996.68
19 $10,996.68 $582.09 $0.00 $62.18 $11,640.95
20 $11,640.95 $582.09 $0.00 $65.82 $12,288.86
21 $12,288.86 $582.09 $0.00 $69.48 $12,940.43
22 $12,940.43 $582.09 $0.00 $73.17 $13,595.69
23 $13,595.69 $582.09 $0.00 $76.87 $14,254.65
24 $14,254.65 $582.09 $0.00 $80.60 $14,917.34
25 $14,917.34 $582.09 $0.00 $84.34 $15,583.77
26 $15,583.77 $582.09 $0.00 $88.11 $16,253.97
27 $16,253.97 $582.09 $0.00 $91.90 $16,927.96
28 $16,927.96 $582.09 $0.00 $95.71 $17,605.76
29 $17,605.76 $582.09 $0.00 $99.55 $18,287.40
30 $18,287.40 $582.09 $0.00 $103.40 $18,972.89
31 $18,972.89 $582.09 $0.00 $107.28 $19,662.26
32 $19,662.26 $582.09 $0.00 $111.17 $20,355.52
33 $20,355.52 $582.09 $0.00 $115.09 $21,052.70
34 $21,052.70 $582.09 $0.00 $119.04 $21,753.83
35 $21,753.83 $582.09 $0.00 $123.00 $22,458.92
36 $22,458.92 $582.09 $0.00 $126.99 $23,168.00
37 $23,168.00 $582.09 $0.00 $131.00 $23,881.09
38 $23,881.09 $582.09 $0.00 $135.03 $24,598.21
39 $24,598.21 $582.09 $0.00 $139.08 $25,319.38
40 $25,319.38 $582.09 $0.00 $143.16 $26,044.63
41 $26,044.63 $582.09 $0.00 $147.26 $26,773.98
42 $26,773.98 $582.09 $0.00 $151.38 $27,507.45
43 $27,507.45 $582.09 $0.00 $155.53 $28,245.07
44 $28,245.07 $582.09 $0.00 $159.70 $28,986.86
45 $28,986.86 $582.09 $0.00 $163.90 $29,732.85
46 $29,732.85 $582.09 $0.00 $168.11 $30,483.05
47 $30,483.05 $582.09 $0.00 $172.36 $31,237.50
48 $31,237.50 $582.09 $0.00 $176.62 $31,996.21
49 $31,996.21 $582.09 $0.00 $180.91 $32,759.21
50 $32,759.21 $582.09 $0.00 $185.23 $33,526.53
51 $33,526.53 $582.09 $0.00 $189.56 $34,298.18
52 $34,298.18 $582.09 $0.00 $193.93 $35,074.20
53 $35,074.20 $582.09 $0.00 $198.31 $35,854.60
54 $35,854.60 $582.09 $0.00 $202.73 $36,639.42
55 $36,639.42 $582.09 $0.00 $207.16 $37,428.67
56 $37,428.67 $582.09 $0.00 $211.63 $38,222.39
57 $38,222.39 $582.09 $0.00 $216.11 $39,020.59
58 $39,020.59 $582.09 $0.00 $220.63 $39,823.31
59 $39,823.31 $582.09 $0.00 $225.17 $40,630.57
60 $40,630.57 $582.09 $0.00 $229.73 $41,442.39
61 $41,442.39 $582.09 $0.00 $234.32 $42,258.80
62 $42,258.80 $582.09 $0.00 $238.94 $43,079.83
63 $43,079.83 $582.09 $0.00 $243.58 $43,905.50
64 $43,905.50 $582.09 $0.00 $248.25 $44,735.84
65 $44,735.84 $582.09 $0.00 $252.94 $45,570.87
66 $45,570.87 $582.09 $0.00 $257.66 $46,410.62
67 $46,410.62 $582.09 $0.00 $262.41 $47,255.12
68 $47,255.12 $582.09 $0.00 $267.19 $48,104.40
69 $48,104.40 $582.09 $0.00 $271.99 $48,958.48
70 $48,958.48 $582.09 $0.00 $276.82 $49,817.39
71 $49,817.39 $582.09 $0.00 $281.67 $50,681.15
72 $50,681.15 $582.09 $0.00 $286.56 $51,549.80
73 $51,549.80 $582.09 $0.00 $291.47 $52,423.36
74 $52,423.36 $582.09 $0.00 $296.41 $53,301.86
75 $53,301.86 $582.09 $0.00 $301.38 $54,185.33
76 $54,185.33 $582.09 $0.00 $306.37 $55,073.79
77 $55,073.79 $582.09 $0.00 $311.40 $55,967.28
78 $55,967.28 $582.09 $0.00 $316.45 $56,865.82
79 $56,865.82 $582.09 $0.00 $321.53 $57,769.44
80 $57,769.44 $582.09 $0.00 $326.64 $58,678.17
81 $58,678.17 $582.09 $0.00 $331.77 $59,592.03
82 $59,592.03 $582.09 $0.00 $336.94 $60,511.06
83 $60,511.06 $582.09 $0.00 $342.14 $61,435.29
84 $61,435.29 $582.09 $0.00 $347.36 $62,364.74
85 $62,364.74 $582.09 $0.00 $352.62 $63,299.45
86 $63,299.45 $582.09 $0.00 $357.90 $64,239.44
87 $64,239.44 $582.09 $0.00 $363.22 $65,184.75
88 $65,184.75 $582.09 $0.00 $368.56 $66,135.40
89 $66,135.40 $582.09 $0.00 $373.94 $67,091.43
90 $67,091.43 $582.09 $0.00 $379.34 $68,052.86
91 $68,052.86 $582.09 $0.00 $384.78 $69,019.73
92 $69,019.73 $582.09 $0.00 $390.25 $69,992.07
93 $69,992.07 $582.09 $0.00 $395.75 $70,969.91
94 $70,969.91 $582.09 $0.00 $401.27 $71,953.27
95 $71,953.27 $582.09 $0.00 $406.83 $72,942.19
96 $72,942.19 $582.09 $0.00 $412.43 $73,936.71
97 $73,936.71 $582.09 $0.00 $418.05 $74,936.85
98 $74,936.85 $582.09 $0.00 $423.70 $75,942.64
99 $75,942.64 $582.09 $0.00 $429.39 $76,954.12
100 $76,954.12 $582.09 $0.00 $435.11 $77,971.32
101 $77,971.32 $582.09 $0.00 $440.86 $78,994.27
102 $78,994.27 $582.09 $0.00 $446.65 $80,023.01
103 $80,023.01 $582.09 $0.00 $452.46 $81,057.56
104 $81,057.56 $582.09 $0.00 $458.31 $82,097.96
105 $82,097.96 $582.09 $0.00 $464.19 $83,144.24
106 $83,144.24 $582.09 $0.00 $470.11 $84,196.44
107 $84,196.44 $582.09 $0.00 $476.06 $85,254.59
108 $85,254.59 $582.09 $0.00 $482.04 $86,318.72
109 $86,318.72 $582.09 $0.00 $488.06 $87,388.87
110 $87,388.87 $582.09 $0.00 $494.11 $88,465.07
111 $88,465.07 $582.09 $0.00 $500.19 $89,547.35
112 $89,547.35 $582.09 $0.00 $506.31 $90,635.75
113 $90,635.75 $582.09 $0.00 $512.47 $91,730.31
114 $91,730.31 $582.09 $0.00 $518.66 $92,831.06
115 $92,831.06 $582.09 $0.00 $524.88 $93,938.03
116 $93,938.03 $582.09 $0.00 $531.14 $95,051.26
117 $95,051.26 $582.09 $0.00 $537.43 $96,170.78
118 $96,170.78 $582.09 $0.00 $543.76 $97,296.63
119 $97,296.63 $582.09 $0.00 $550.13 $98,428.85
120 $98,428.85 $582.09 $0.00 $556.53 $99,567.47
121 $99,567.47 $582.09 $0.00 $562.97 $100,712.53
122 $100,712.53 $582.09 $0.00 $569.44 $101,864.06
123 $101,864.06 $582.09 $0.00 $575.95 $103,022.10
124 $103,022.10 $582.09 $0.00 $582.50 $104,186.69
125 $104,186.69 $582.09 $0.00 $589.09 $105,357.87
126 $105,357.87 $582.09 $0.00 $595.71 $106,535.67
127 $106,535.67 $582.09 $0.00 $602.37 $107,720.13
128 $107,720.13 $582.09 $0.00 $609.07 $108,911.29
129 $108,911.29 $582.09 $0.00 $615.80 $110,109.18
130 $110,109.18 $582.09 $0.00 $622.57 $111,313.84
131 $111,313.84 $582.09 $0.00 $629.38 $112,525.31
132 $112,525.31 $582.09 $0.00 $636.23 $113,743.63
133 $113,743.63 $582.09 $0.00 $643.12 $114,968.84
134 $114,968.84 $582.09 $0.00 $650.05 $116,200.98
135 $116,200.98 $582.09 $0.00 $657.02 $117,440.09
136 $117,440.09 $582.09 $0.00 $664.02 $118,686.20
137 $118,686.20 $582.09 $0.00 $671.07 $119,939.36
138 $119,939.36 $582.09 $0.00 $678.15 $121,199.60
139 $121,199.60 $582.09 $0.00 $685.28 $122,466.97
140 $122,466.97 $582.09 $0.00 $692.45 $123,741.51
141 $123,741.51 $582.09 $0.00 $699.65 $125,023.25
142 $125,023.25 $582.09 $0.00 $706.90 $126,312.24
143 $126,312.24 $582.09 $0.00 $714.19 $127,608.52
144 $127,608.52 $582.09 $0.00 $721.52 $128,912.13
145 $128,912.13 $582.09 $0.00 $728.89 $130,223.11
146 $130,223.11 $582.09 $0.00 $736.30 $131,541.50
147 $131,541.50 $582.09 $0.00 $743.75 $132,867.34
148 $132,867.34 $582.09 $0.00 $751.25 $134,200.68
149 $134,200.68 $582.09 $0.00 $758.79 $135,541.56
150 $135,541.56 $582.09 $0.00 $766.37 $136,890.02
151 $136,890.02 $582.09 $0.00 $774.00 $138,246.11
152 $138,246.11 $582.09 $0.00 $781.66 $139,609.86
153 $139,609.86 $582.09 $0.00 $789.37 $140,981.32
154 $140,981.32 $582.09 $0.00 $797.13 $142,360.54
155 $142,360.54 $582.09 $0.00 $804.93 $143,747.56
156 $143,747.56 $582.09 $0.00 $812.77 $145,142.42
157 $145,142.42 $582.09 $0.00 $820.66 $146,545.17
158 $146,545.17 $582.09 $0.00 $828.59 $147,955.85
159 $147,955.85 $582.09 $0.00 $836.56 $149,374.50
160 $149,374.50 $582.09 $0.00 $844.59 $150,801.18
161 $150,801.18 $582.09 $0.00 $852.65 $152,235.92
162 $152,235.92 $582.09 $0.00 $860.76 $153,678.77
163 $153,678.77 $582.09 $0.00 $868.92 $155,129.78
164 $155,129.78 $582.09 $0.00 $877.13 $156,589.00
165 $156,589.00 $582.09 $0.00 $885.38 $158,056.47
166 $158,056.47 $582.09 $0.00 $893.67 $159,532.23
167 $159,532.23 $582.09 $0.00 $902.02 $161,016.34
168 $161,016.34 $582.09 $0.00 $910.41 $162,508.84
169 $162,508.84 $582.09 $0.00 $918.85 $164,009.78
170 $164,009.78 $582.09 $0.00 $927.34 $165,519.21
171 $165,519.21 $582.09 $0.00 $935.87 $167,037.17
172 $167,037.17 $582.09 $0.00 $944.45 $168,563.71
173 $168,563.71 $582.09 $0.00 $953.08 $170,098.88
174 $170,098.88 $582.09 $0.00 $961.76 $171,642.73
175 $171,642.73 $582.09 $0.00 $970.49 $173,195.31
176 $173,195.31 $582.09 $0.00 $979.27 $174,756.67
177 $174,756.67 $582.09 $0.00 $988.10 $176,326.86
178 $176,326.86 $582.09 $0.00 $996.98 $177,905.93
179 $177,905.93 $582.09 $0.00 $1,005.91 $179,493.93
180 $179,493.93 $582.09 $0.00 $1,014.88 $181,090.90
181 $181,090.90 $582.09 $0.00 $1,023.91 $182,696.90
182 $182,696.90 $582.09 $0.00 $1,032.99 $184,311.98
183 $184,311.98 $582.09 $0.00 $1,042.13 $185,936.20
184 $185,936.20 $582.09 $0.00 $1,051.31 $187,569.60
185 $187,569.60 $582.09 $0.00 $1,060.55 $189,212.24
186 $189,212.24 $582.09 $0.00 $1,069.83 $190,864.16
187 $190,864.16 $582.09 $0.00 $1,079.17 $192,525.42
188 $192,525.42 $582.09 $0.00 $1,088.57 $194,196.08
189 $194,196.08 $582.09 $0.00 $1,098.01 $195,876.18
190 $195,876.18 $582.09 $0.00 $1,107.51 $197,565.78
191 $197,565.78 $582.09 $0.00 $1,117.07 $199,264.94
192 $199,264.94 $582.09 $0.00 $1,126.67 $200,973.70
193 $200,973.70 $582.09 $0.00 $1,136.33 $202,692.12
194 $202,692.12 $582.09 $0.00 $1,146.05 $204,420.26
195 $204,420.26 $582.09 $0.00 $1,155.82 $206,158.17
196 $206,158.17 $582.09 $0.00 $1,165.65 $207,905.91
197 $207,905.91 $582.09 $0.00 $1,175.53 $209,663.53
198 $209,663.53 $582.09 $0.00 $1,185.47 $211,431.09
199 $211,431.09 $582.09 $0.00 $1,195.46 $213,208.64
200 $213,208.64 $582.09 $0.00 $1,205.51 $214,996.24
201 $214,996.24 $582.09 $0.00 $1,215.62 $216,793.95
202 $216,793.95 $582.09 $0.00 $1,225.78 $218,601.82
203 $218,601.82 $582.09 $0.00 $1,236.01 $220,419.92
204 $220,419.92 $582.09 $0.00 $1,246.29 $222,248.30
205 $222,248.30 $582.09 $0.00 $1,256.62 $224,087.01
206 $224,087.01 $582.09 $0.00 $1,267.02 $225,936.12
207 $225,936.12 $582.09 $0.00 $1,277.48 $227,795.69
208 $227,795.69 $582.09 $0.00 $1,287.99 $229,665.77
209 $229,665.77 $582.09 $0.00 $1,298.56 $231,546.42
210 $231,546.42 $582.09 $0.00 $1,309.20 $233,437.71
211 $233,437.71 $582.09 $0.00 $1,319.89 $235,339.69
212 $235,339.69 $582.09 $0.00 $1,330.64 $237,252.42
213 $237,252.42 $582.09 $0.00 $1,341.46 $239,175.97
214 $239,175.97 $582.09 $0.00 $1,352.34 $241,110.40
215 $241,110.40 $582.09 $0.00 $1,363.27 $243,055.76
216 $243,055.76 $582.09 $0.00 $1,374.27 $245,012.12
217 $245,012.12 $582.09 $68,242.09 $1,385.33 $178,737.45
218 $178,737.45 $582.09 $0.00 $1,010.61 $180,330.15
219 $180,330.15 $582.09 $0.00 $1,019.61 $181,931.85
220 $181,931.85 $582.09 $0.00 $1,028.67 $183,542.61
221 $183,542.61 $582.09 $0.00 $1,037.78 $185,162.48
222 $185,162.48 $582.09 $0.00 $1,046.94 $186,791.51
223 $186,791.51 $582.09 $0.00 $1,056.15 $188,429.75
224 $188,429.75 $582.09 $0.00 $1,065.41 $190,077.25
225 $190,077.25 $582.09 $0.00 $1,074.72 $191,734.06
226 $191,734.06 $582.09 $0.00 $1,084.09 $193,400.24
227 $193,400.24 $582.09 $0.00 $1,093.51 $195,075.84
228 $195,075.84 $582.09 $0.00 $1,102.99 $196,760.92
229 $196,760.92 $582.09 $71,654.20 $1,112.51 $126,801.32
230 $126,801.32 $582.09 $0.00 $716.95 $128,100.36
231 $128,100.36 $582.09 $0.00 $724.30 $129,406.75
232 $129,406.75 $582.09 $0.00 $731.68 $130,720.52
233 $130,720.52 $582.09 $0.00 $739.11 $132,041.72
234 $132,041.72 $582.09 $0.00 $746.58 $133,370.39
235 $133,370.39 $582.09 $0.00 $754.10 $134,706.58
236 $134,706.58 $582.09 $0.00 $761.65 $136,050.32
237 $136,050.32 $582.09 $0.00 $769.25 $137,401.66
238 $137,401.66 $582.09 $0.00 $776.89 $138,760.64
239 $138,760.64 $582.09 $0.00 $784.57 $140,127.30
240 $140,127.30 $582.09 $0.00 $792.30 $141,501.69
241 $141,501.69 $582.09 $75,236.91 $800.07 $67,646.94
242 $67,646.94 $582.09 $0.00 $382.49 $68,611.52
243 $68,611.52 $582.09 $0.00 $387.94 $69,581.55
244 $69,581.55 $582.09 $0.00 $393.42 $70,557.06
245 $70,557.06 $582.09 $0.00 $398.94 $71,538.09
246 $71,538.09 $582.09 $0.00 $404.49 $72,524.67
247 $72,524.67 $582.09 $0.00 $410.07 $73,516.83
248 $73,516.83 $582.09 $0.00 $415.67 $74,514.59
249 $74,514.59 $582.09 $0.00 $421.32 $75,518.00
250 $75,518.00 $582.09 $0.00 $426.99 $76,527.08
251 $76,527.08 $582.09 $0.00 $432.70 $77,541.87
252 $77,541.87 $582.09 $0.00 $438.43 $78,562.39
253 $78,562.39 $0.00 $78,998.76 $444.20 $7.83