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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$76,033
Monthly savings required$602

How much will it cost to send your child to Averett University Non Traditional Programs in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $304,131.37 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $601.86 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$29,320.00
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 $601.86 $0.00 $0.00 $601.86
2 $601.86 $601.86 $0.00 $3.40 $1,207.12
3 $1,207.12 $601.86 $0.00 $6.83 $1,815.81
4 $1,815.81 $601.86 $0.00 $10.27 $2,427.94
5 $2,427.94 $601.86 $0.00 $13.73 $3,043.53
6 $3,043.53 $601.86 $0.00 $17.21 $3,662.60
7 $3,662.60 $601.86 $0.00 $20.71 $4,285.17
8 $4,285.17 $601.86 $0.00 $24.23 $4,911.26
9 $4,911.26 $601.86 $0.00 $27.77 $5,540.89
10 $5,540.89 $601.86 $0.00 $31.33 $6,174.08
11 $6,174.08 $601.86 $0.00 $34.91 $6,810.85
12 $6,810.85 $601.86 $0.00 $38.51 $7,451.22
13 $7,451.22 $601.86 $0.00 $42.13 $8,095.21
14 $8,095.21 $601.86 $0.00 $45.77 $8,742.84
15 $8,742.84 $601.86 $0.00 $49.43 $9,394.13
16 $9,394.13 $601.86 $0.00 $53.12 $10,049.11
17 $10,049.11 $601.86 $0.00 $56.82 $10,707.79
18 $10,707.79 $601.86 $0.00 $60.54 $11,370.19
19 $11,370.19 $601.86 $0.00 $64.29 $12,036.34
20 $12,036.34 $601.86 $0.00 $68.06 $12,706.26
21 $12,706.26 $601.86 $0.00 $71.84 $13,379.96
22 $13,379.96 $601.86 $0.00 $75.65 $14,057.47
23 $14,057.47 $601.86 $0.00 $79.48 $14,738.81
24 $14,738.81 $601.86 $0.00 $83.34 $15,424.01
25 $15,424.01 $601.86 $0.00 $87.21 $16,113.08
26 $16,113.08 $601.86 $0.00 $91.11 $16,806.05
27 $16,806.05 $601.86 $0.00 $95.02 $17,502.93
28 $17,502.93 $601.86 $0.00 $98.96 $18,203.75
29 $18,203.75 $601.86 $0.00 $102.93 $18,908.54
30 $18,908.54 $601.86 $0.00 $106.91 $19,617.31
31 $19,617.31 $601.86 $0.00 $110.92 $20,330.09
32 $20,330.09 $601.86 $0.00 $114.95 $21,046.90
33 $21,046.90 $601.86 $0.00 $119.00 $21,767.76
34 $21,767.76 $601.86 $0.00 $123.08 $22,492.70
35 $22,492.70 $601.86 $0.00 $127.18 $23,221.74
36 $23,221.74 $601.86 $0.00 $131.30 $23,954.90
37 $23,954.90 $601.86 $0.00 $135.44 $24,692.20
38 $24,692.20 $601.86 $0.00 $139.61 $25,433.67
39 $25,433.67 $601.86 $0.00 $143.81 $26,179.34
40 $26,179.34 $601.86 $0.00 $148.02 $26,929.22
41 $26,929.22 $601.86 $0.00 $152.26 $27,683.34
42 $27,683.34 $601.86 $0.00 $156.53 $28,441.73
43 $28,441.73 $601.86 $0.00 $160.81 $29,204.40
44 $29,204.40 $601.86 $0.00 $165.13 $29,971.39
45 $29,971.39 $601.86 $0.00 $169.46 $30,742.71
46 $30,742.71 $601.86 $0.00 $173.82 $31,518.39
47 $31,518.39 $601.86 $0.00 $178.21 $32,298.46
48 $32,298.46 $601.86 $0.00 $182.62 $33,082.94
49 $33,082.94 $601.86 $0.00 $187.06 $33,871.86
50 $33,871.86 $601.86 $0.00 $191.52 $34,665.24
51 $34,665.24 $601.86 $0.00 $196.00 $35,463.10
52 $35,463.10 $601.86 $0.00 $200.51 $36,265.47
53 $36,265.47 $601.86 $0.00 $205.05 $37,072.38
54 $37,072.38 $601.86 $0.00 $209.61 $37,883.85
55 $37,883.85 $601.86 $0.00 $214.20 $38,699.91
56 $38,699.91 $601.86 $0.00 $218.81 $39,520.58
57 $39,520.58 $601.86 $0.00 $223.46 $40,345.90
58 $40,345.90 $601.86 $0.00 $228.12 $41,175.88
59 $41,175.88 $601.86 $0.00 $232.81 $42,010.55
60 $42,010.55 $601.86 $0.00 $237.53 $42,849.94
61 $42,849.94 $601.86 $0.00 $242.28 $43,694.08
62 $43,694.08 $601.86 $0.00 $247.05 $44,542.99
63 $44,542.99 $601.86 $0.00 $251.85 $45,396.70
64 $45,396.70 $601.86 $0.00 $256.68 $46,255.24
65 $46,255.24 $601.86 $0.00 $261.53 $47,118.63
66 $47,118.63 $601.86 $0.00 $266.42 $47,986.91
67 $47,986.91 $601.86 $0.00 $271.32 $48,860.09
68 $48,860.09 $601.86 $0.00 $276.26 $49,738.21
69 $49,738.21 $601.86 $0.00 $281.23 $50,621.30
70 $50,621.30 $601.86 $0.00 $286.22 $51,509.38
71 $51,509.38 $601.86 $0.00 $291.24 $52,402.48
72 $52,402.48 $601.86 $0.00 $296.29 $53,300.63
73 $53,300.63 $601.86 $0.00 $301.37 $54,203.86
74 $54,203.86 $601.86 $0.00 $306.48 $55,112.20
75 $55,112.20 $601.86 $0.00 $311.61 $56,025.67
76 $56,025.67 $601.86 $0.00 $316.78 $56,944.31
77 $56,944.31 $601.86 $0.00 $321.97 $57,868.14
78 $57,868.14 $601.86 $0.00 $327.19 $58,797.19
79 $58,797.19 $601.86 $0.00 $332.45 $59,731.50
80 $59,731.50 $601.86 $0.00 $337.73 $60,671.09
81 $60,671.09 $601.86 $0.00 $343.04 $61,615.99
82 $61,615.99 $601.86 $0.00 $348.39 $62,566.24
83 $62,566.24 $601.86 $0.00 $353.76 $63,521.86
84 $63,521.86 $601.86 $0.00 $359.16 $64,482.88
85 $64,482.88 $601.86 $0.00 $364.60 $65,449.34
86 $65,449.34 $601.86 $0.00 $370.06 $66,421.26
87 $66,421.26 $601.86 $0.00 $375.56 $67,398.68
88 $67,398.68 $601.86 $0.00 $381.08 $68,381.62
89 $68,381.62 $601.86 $0.00 $386.64 $69,370.12
90 $69,370.12 $601.86 $0.00 $392.23 $70,364.21
91 $70,364.21 $601.86 $0.00 $397.85 $71,363.92
92 $71,363.92 $601.86 $0.00 $403.50 $72,369.28
93 $72,369.28 $601.86 $0.00 $409.19 $73,380.33
94 $73,380.33 $601.86 $0.00 $414.90 $74,397.09
95 $74,397.09 $601.86 $0.00 $420.65 $75,419.60
96 $75,419.60 $601.86 $0.00 $426.43 $76,447.89
97 $76,447.89 $601.86 $0.00 $432.25 $77,482.00
98 $77,482.00 $601.86 $0.00 $438.09 $78,521.95
99 $78,521.95 $601.86 $0.00 $443.97 $79,567.78
100 $79,567.78 $601.86 $0.00 $449.89 $80,619.53
101 $80,619.53 $601.86 $0.00 $455.83 $81,677.22
102 $81,677.22 $601.86 $0.00 $461.81 $82,740.89
103 $82,740.89 $601.86 $0.00 $467.83 $83,810.58
104 $83,810.58 $601.86 $0.00 $473.88 $84,886.32
105 $84,886.32 $601.86 $0.00 $479.96 $85,968.14
106 $85,968.14 $601.86 $0.00 $486.08 $87,056.08
107 $87,056.08 $601.86 $0.00 $492.23 $88,150.17
108 $88,150.17 $601.86 $0.00 $498.41 $89,250.44
109 $89,250.44 $601.86 $0.00 $504.63 $90,356.93
110 $90,356.93 $601.86 $0.00 $510.89 $91,469.68
111 $91,469.68 $601.86 $0.00 $517.18 $92,588.72
112 $92,588.72 $601.86 $0.00 $523.51 $93,714.09
113 $93,714.09 $601.86 $0.00 $529.87 $94,845.82
114 $94,845.82 $601.86 $0.00 $536.27 $95,983.95
115 $95,983.95 $601.86 $0.00 $542.71 $97,128.52
116 $97,128.52 $601.86 $0.00 $549.18 $98,279.56
117 $98,279.56 $601.86 $0.00 $555.69 $99,437.11
118 $99,437.11 $601.86 $0.00 $562.23 $100,601.20
119 $100,601.20 $601.86 $0.00 $568.81 $101,771.87
120 $101,771.87 $601.86 $0.00 $575.43 $102,949.16
121 $102,949.16 $601.86 $0.00 $582.09 $104,133.11
122 $104,133.11 $601.86 $0.00 $588.78 $105,323.75
123 $105,323.75 $601.86 $0.00 $595.52 $106,521.13
124 $106,521.13 $601.86 $0.00 $602.29 $107,725.28
125 $107,725.28 $601.86 $0.00 $609.09 $108,936.23
126 $108,936.23 $601.86 $0.00 $615.94 $110,154.03
127 $110,154.03 $601.86 $0.00 $622.83 $111,378.72
128 $111,378.72 $601.86 $0.00 $629.75 $112,610.33
129 $112,610.33 $601.86 $0.00 $636.72 $113,848.91
130 $113,848.91 $601.86 $0.00 $643.72 $115,094.49
131 $115,094.49 $601.86 $0.00 $650.76 $116,347.11
132 $116,347.11 $601.86 $0.00 $657.84 $117,606.81
133 $117,606.81 $601.86 $0.00 $664.97 $118,873.64
134 $118,873.64 $601.86 $0.00 $672.13 $120,147.63
135 $120,147.63 $601.86 $0.00 $679.33 $121,428.82
136 $121,428.82 $601.86 $0.00 $686.58 $122,717.26
137 $122,717.26 $601.86 $0.00 $693.86 $124,012.98
138 $124,012.98 $601.86 $0.00 $701.19 $125,316.03
139 $125,316.03 $601.86 $0.00 $708.56 $126,626.45
140 $126,626.45 $601.86 $0.00 $715.96 $127,944.27
141 $127,944.27 $601.86 $0.00 $723.42 $129,269.55
142 $129,269.55 $601.86 $0.00 $730.91 $130,602.32
143 $130,602.32 $601.86 $0.00 $738.44 $131,942.62
144 $131,942.62 $601.86 $0.00 $746.02 $133,290.50
145 $133,290.50 $601.86 $0.00 $753.64 $134,646.00
146 $134,646.00 $601.86 $0.00 $761.31 $136,009.17
147 $136,009.17 $601.86 $0.00 $769.02 $137,380.05
148 $137,380.05 $601.86 $0.00 $776.77 $138,758.68
149 $138,758.68 $601.86 $0.00 $784.56 $140,145.10
150 $140,145.10 $601.86 $0.00 $792.40 $141,539.36
151 $141,539.36 $601.86 $0.00 $800.28 $142,941.50
152 $142,941.50 $601.86 $0.00 $808.21 $144,351.57
153 $144,351.57 $601.86 $0.00 $816.18 $145,769.61
154 $145,769.61 $601.86 $0.00 $824.20 $147,195.67
155 $147,195.67 $601.86 $0.00 $832.27 $148,629.80
156 $148,629.80 $601.86 $0.00 $840.37 $150,072.03
157 $150,072.03 $601.86 $0.00 $848.53 $151,522.42
158 $151,522.42 $601.86 $0.00 $856.73 $152,981.01
159 $152,981.01 $601.86 $0.00 $864.98 $154,447.85
160 $154,447.85 $601.86 $0.00 $873.27 $155,922.98
161 $155,922.98 $601.86 $0.00 $881.61 $157,406.45
162 $157,406.45 $601.86 $0.00 $890.00 $158,898.31
163 $158,898.31 $601.86 $0.00 $898.43 $160,398.60
164 $160,398.60 $601.86 $0.00 $906.92 $161,907.38
165 $161,907.38 $601.86 $0.00 $915.45 $163,424.69
166 $163,424.69 $601.86 $0.00 $924.03 $164,950.58
167 $164,950.58 $601.86 $0.00 $932.65 $166,485.09
168 $166,485.09 $601.86 $0.00 $941.33 $168,028.28
169 $168,028.28 $601.86 $0.00 $950.06 $169,580.20
170 $169,580.20 $601.86 $0.00 $958.83 $171,140.89
171 $171,140.89 $601.86 $0.00 $967.66 $172,710.41
172 $172,710.41 $601.86 $0.00 $976.53 $174,288.80
173 $174,288.80 $601.86 $0.00 $985.45 $175,876.11
174 $175,876.11 $601.86 $0.00 $994.43 $177,472.40
175 $177,472.40 $601.86 $0.00 $1,003.45 $179,077.71
176 $179,077.71 $601.86 $0.00 $1,012.53 $180,692.10
177 $180,692.10 $601.86 $0.00 $1,021.66 $182,315.62
178 $182,315.62 $601.86 $0.00 $1,030.84 $183,948.32
179 $183,948.32 $601.86 $0.00 $1,040.07 $185,590.25
180 $185,590.25 $601.86 $0.00 $1,049.35 $187,241.46
181 $187,241.46 $601.86 $0.00 $1,058.69 $188,902.01
182 $188,902.01 $601.86 $0.00 $1,068.08 $190,571.95
183 $190,571.95 $601.86 $0.00 $1,077.52 $192,251.33
184 $192,251.33 $601.86 $0.00 $1,087.02 $193,940.21
185 $193,940.21 $601.86 $0.00 $1,096.57 $195,638.64
186 $195,638.64 $601.86 $0.00 $1,106.17 $197,346.67
187 $197,346.67 $601.86 $0.00 $1,115.83 $199,064.36
188 $199,064.36 $601.86 $0.00 $1,125.54 $200,791.76
189 $200,791.76 $601.86 $0.00 $1,135.31 $202,528.93
190 $202,528.93 $601.86 $0.00 $1,145.13 $204,275.92
191 $204,275.92 $601.86 $0.00 $1,155.01 $206,032.79
192 $206,032.79 $601.86 $0.00 $1,164.94 $207,799.59
193 $207,799.59 $601.86 $0.00 $1,174.93 $209,576.38
194 $209,576.38 $601.86 $0.00 $1,184.98 $211,363.22
195 $211,363.22 $601.86 $0.00 $1,195.08 $213,160.16
196 $213,160.16 $601.86 $0.00 $1,205.24 $214,967.26
197 $214,967.26 $601.86 $0.00 $1,215.46 $216,784.58
198 $216,784.58 $601.86 $0.00 $1,225.73 $218,612.17
199 $218,612.17 $601.86 $0.00 $1,236.06 $220,450.09
200 $220,450.09 $601.86 $0.00 $1,246.46 $222,298.41
201 $222,298.41 $601.86 $0.00 $1,256.91 $224,157.18
202 $224,157.18 $601.86 $0.00 $1,267.42 $226,026.46
203 $226,026.46 $601.86 $0.00 $1,277.99 $227,906.31
204 $227,906.31 $601.86 $0.00 $1,288.62 $229,796.79
205 $229,796.79 $601.86 $0.00 $1,299.30 $231,697.95
206 $231,697.95 $601.86 $0.00 $1,310.05 $233,609.86
207 $233,609.86 $601.86 $0.00 $1,320.86 $235,532.58
208 $235,532.58 $601.86 $0.00 $1,331.74 $237,466.18
209 $237,466.18 $601.86 $0.00 $1,342.67 $239,410.71
210 $239,410.71 $601.86 $0.00 $1,353.66 $241,366.23
211 $241,366.23 $601.86 $0.00 $1,364.72 $243,332.81
212 $243,332.81 $601.86 $0.00 $1,375.84 $245,310.51
213 $245,310.51 $601.86 $0.00 $1,387.02 $247,299.39
214 $247,299.39 $601.86 $0.00 $1,398.27 $249,299.52
215 $249,299.52 $601.86 $0.00 $1,409.58 $251,310.96
216 $251,310.96 $601.86 $0.00 $1,420.95 $253,333.77
217 $253,333.77 $601.86 $70,562.08 $1,432.39 $184,805.94
218 $184,805.94 $601.86 $0.00 $1,044.92 $186,452.72
219 $186,452.72 $601.86 $0.00 $1,054.23 $188,108.81
220 $188,108.81 $601.86 $0.00 $1,063.59 $189,774.26
221 $189,774.26 $601.86 $0.00 $1,073.01 $191,449.13
222 $191,449.13 $601.86 $0.00 $1,082.48 $193,133.47
223 $193,133.47 $601.86 $0.00 $1,092.00 $194,827.33
224 $194,827.33 $601.86 $0.00 $1,101.58 $196,530.77
225 $196,530.77 $601.86 $0.00 $1,111.21 $198,243.84
226 $198,243.84 $601.86 $0.00 $1,120.90 $199,966.60
227 $199,966.60 $601.86 $0.00 $1,130.64 $201,699.10
228 $201,699.10 $601.86 $0.00 $1,140.44 $203,441.40
229 $203,441.40 $601.86 $74,090.18 $1,150.29 $131,103.37
230 $131,103.37 $601.86 $0.00 $741.28 $132,446.51
231 $132,446.51 $601.86 $0.00 $748.87 $133,797.24
232 $133,797.24 $601.86 $0.00 $756.51 $135,155.61
233 $135,155.61 $601.86 $0.00 $764.19 $136,521.66
234 $136,521.66 $601.86 $0.00 $771.91 $137,895.43
235 $137,895.43 $601.86 $0.00 $779.68 $139,276.97
236 $139,276.97 $601.86 $0.00 $787.49 $140,666.32
237 $140,666.32 $601.86 $0.00 $795.35 $142,063.53
238 $142,063.53 $601.86 $0.00 $803.25 $143,468.64
239 $143,468.64 $601.86 $0.00 $811.19 $144,881.69
240 $144,881.69 $601.86 $0.00 $819.18 $146,302.73
241 $146,302.73 $601.86 $77,794.69 $827.22 $69,937.12
242 $69,937.12 $601.86 $0.00 $395.43 $70,934.41
243 $70,934.41 $601.86 $0.00 $401.07 $71,937.34
244 $71,937.34 $601.86 $0.00 $406.74 $72,945.94
245 $72,945.94 $601.86 $0.00 $412.45 $73,960.25
246 $73,960.25 $601.86 $0.00 $418.18 $74,980.29
247 $74,980.29 $601.86 $0.00 $423.95 $76,006.10
248 $76,006.10 $601.86 $0.00 $429.75 $77,037.71
249 $77,037.71 $601.86 $0.00 $435.58 $78,075.15
250 $78,075.15 $601.86 $0.00 $441.45 $79,118.46
251 $79,118.46 $601.86 $0.00 $447.35 $80,167.67
252 $80,167.67 $601.86 $0.00 $453.28 $81,222.81
253 $81,222.81 $0.00 $81,684.42 $459.25 ($2.36)