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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$39,996
Monthly savings required$178

How much will it cost to send your child to Central Virginia Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $79,992.89 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $177.75 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$16,214.00
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 $177.75 $0.00 $0.00 $177.75
2 $177.75 $177.75 $0.00 $1.01 $356.51
3 $356.51 $177.75 $0.00 $2.02 $536.28
4 $536.28 $177.75 $0.00 $3.03 $717.06
5 $717.06 $177.75 $0.00 $4.05 $898.86
6 $898.86 $177.75 $0.00 $5.08 $1,081.69
7 $1,081.69 $177.75 $0.00 $6.12 $1,265.56
8 $1,265.56 $177.75 $0.00 $7.16 $1,450.47
9 $1,450.47 $177.75 $0.00 $8.20 $1,636.42
10 $1,636.42 $177.75 $0.00 $9.25 $1,823.42
11 $1,823.42 $177.75 $0.00 $10.31 $2,011.48
12 $2,011.48 $177.75 $0.00 $11.37 $2,200.60
13 $2,200.60 $177.75 $0.00 $12.44 $2,390.79
14 $2,390.79 $177.75 $0.00 $13.52 $2,582.06
15 $2,582.06 $177.75 $0.00 $14.60 $2,774.41
16 $2,774.41 $177.75 $0.00 $15.69 $2,967.85
17 $2,967.85 $177.75 $0.00 $16.78 $3,162.38
18 $3,162.38 $177.75 $0.00 $17.88 $3,358.01
19 $3,358.01 $177.75 $0.00 $18.99 $3,554.75
20 $3,554.75 $177.75 $0.00 $20.10 $3,752.60
21 $3,752.60 $177.75 $0.00 $21.22 $3,951.57
22 $3,951.57 $177.75 $0.00 $22.34 $4,151.66
23 $4,151.66 $177.75 $0.00 $23.47 $4,352.88
24 $4,352.88 $177.75 $0.00 $24.61 $4,555.24
25 $4,555.24 $177.75 $0.00 $25.76 $4,758.75
26 $4,758.75 $177.75 $0.00 $26.91 $4,963.41
27 $4,963.41 $177.75 $0.00 $28.06 $5,169.22
28 $5,169.22 $177.75 $0.00 $29.23 $5,376.20
29 $5,376.20 $177.75 $0.00 $30.40 $5,584.35
30 $5,584.35 $177.75 $0.00 $31.57 $5,793.67
31 $5,793.67 $177.75 $0.00 $32.76 $6,004.18
32 $6,004.18 $177.75 $0.00 $33.95 $6,215.88
33 $6,215.88 $177.75 $0.00 $35.15 $6,428.78
34 $6,428.78 $177.75 $0.00 $36.35 $6,642.88
35 $6,642.88 $177.75 $0.00 $37.56 $6,858.19
36 $6,858.19 $177.75 $0.00 $38.78 $7,074.72
37 $7,074.72 $177.75 $0.00 $40.00 $7,292.47
38 $7,292.47 $177.75 $0.00 $41.23 $7,511.45
39 $7,511.45 $177.75 $0.00 $42.47 $7,731.67
40 $7,731.67 $177.75 $0.00 $43.72 $7,953.14
41 $7,953.14 $177.75 $0.00 $44.97 $8,175.86
42 $8,175.86 $177.75 $0.00 $46.23 $8,399.84
43 $8,399.84 $177.75 $0.00 $47.49 $8,625.08
44 $8,625.08 $177.75 $0.00 $48.77 $8,851.60
45 $8,851.60 $177.75 $0.00 $50.05 $9,079.40
46 $9,079.40 $177.75 $0.00 $51.34 $9,308.49
47 $9,308.49 $177.75 $0.00 $52.63 $9,538.87
48 $9,538.87 $177.75 $0.00 $53.93 $9,770.55
49 $9,770.55 $177.75 $0.00 $55.24 $10,003.54
50 $10,003.54 $177.75 $0.00 $56.56 $10,237.85
51 $10,237.85 $177.75 $0.00 $57.89 $10,473.49
52 $10,473.49 $177.75 $0.00 $59.22 $10,710.46
53 $10,710.46 $177.75 $0.00 $60.56 $10,948.77
54 $10,948.77 $177.75 $0.00 $61.91 $11,188.43
55 $11,188.43 $177.75 $0.00 $63.26 $11,429.44
56 $11,429.44 $177.75 $0.00 $64.62 $11,671.81
57 $11,671.81 $177.75 $0.00 $65.99 $11,915.55
58 $11,915.55 $177.75 $0.00 $67.37 $12,160.67
59 $12,160.67 $177.75 $0.00 $68.76 $12,407.18
60 $12,407.18 $177.75 $0.00 $70.15 $12,655.08
61 $12,655.08 $177.75 $0.00 $71.55 $12,904.38
62 $12,904.38 $177.75 $0.00 $72.96 $13,155.09
63 $13,155.09 $177.75 $0.00 $74.38 $13,407.22
64 $13,407.22 $177.75 $0.00 $75.81 $13,660.78
65 $13,660.78 $177.75 $0.00 $77.24 $13,915.77
66 $13,915.77 $177.75 $0.00 $78.68 $14,172.20
67 $14,172.20 $177.75 $0.00 $80.13 $14,430.08
68 $14,430.08 $177.75 $0.00 $81.59 $14,689.42
69 $14,689.42 $177.75 $0.00 $83.06 $14,950.23
70 $14,950.23 $177.75 $0.00 $84.53 $15,212.51
71 $15,212.51 $177.75 $0.00 $86.01 $15,476.27
72 $15,476.27 $177.75 $0.00 $87.51 $15,741.53
73 $15,741.53 $177.75 $0.00 $89.00 $16,008.28
74 $16,008.28 $177.75 $0.00 $90.51 $16,276.54
75 $16,276.54 $177.75 $0.00 $92.03 $16,546.32
76 $16,546.32 $177.75 $0.00 $93.56 $16,817.63
77 $16,817.63 $177.75 $0.00 $95.09 $17,090.47
78 $17,090.47 $177.75 $0.00 $96.63 $17,364.85
79 $17,364.85 $177.75 $0.00 $98.18 $17,640.78
80 $17,640.78 $177.75 $0.00 $99.74 $17,918.27
81 $17,918.27 $177.75 $0.00 $101.31 $18,197.33
82 $18,197.33 $177.75 $0.00 $102.89 $18,477.97
83 $18,477.97 $177.75 $0.00 $104.48 $18,760.20
84 $18,760.20 $177.75 $0.00 $106.07 $19,044.02
85 $19,044.02 $177.75 $0.00 $107.68 $19,329.45
86 $19,329.45 $177.75 $0.00 $109.29 $19,616.49
87 $19,616.49 $177.75 $0.00 $110.91 $19,905.15
88 $19,905.15 $177.75 $0.00 $112.55 $20,195.45
89 $20,195.45 $177.75 $0.00 $114.19 $20,487.39
90 $20,487.39 $177.75 $0.00 $115.84 $20,780.98
91 $20,780.98 $177.75 $0.00 $117.50 $21,076.23
92 $21,076.23 $177.75 $0.00 $119.17 $21,373.15
93 $21,373.15 $177.75 $0.00 $120.85 $21,671.75
94 $21,671.75 $177.75 $0.00 $122.54 $21,972.04
95 $21,972.04 $177.75 $0.00 $124.23 $22,274.02
96 $22,274.02 $177.75 $0.00 $125.94 $22,577.71
97 $22,577.71 $177.75 $0.00 $127.66 $22,883.12
98 $22,883.12 $177.75 $0.00 $129.38 $23,190.25
99 $23,190.25 $177.75 $0.00 $131.12 $23,499.12
100 $23,499.12 $177.75 $0.00 $132.87 $23,809.74
101 $23,809.74 $177.75 $0.00 $134.62 $24,122.11
102 $24,122.11 $177.75 $0.00 $136.39 $24,436.25
103 $24,436.25 $177.75 $0.00 $138.17 $24,752.17
104 $24,752.17 $177.75 $0.00 $139.95 $25,069.87
105 $25,069.87 $177.75 $0.00 $141.75 $25,389.37
106 $25,389.37 $177.75 $0.00 $143.56 $25,710.68
107 $25,710.68 $177.75 $0.00 $145.37 $26,033.80
108 $26,033.80 $177.75 $0.00 $147.20 $26,358.75
109 $26,358.75 $177.75 $0.00 $149.04 $26,685.54
110 $26,685.54 $177.75 $0.00 $150.88 $27,014.17
111 $27,014.17 $177.75 $0.00 $152.74 $27,344.66
112 $27,344.66 $177.75 $0.00 $154.61 $27,677.02
113 $27,677.02 $177.75 $0.00 $156.49 $28,011.26
114 $28,011.26 $177.75 $0.00 $158.38 $28,347.39
115 $28,347.39 $177.75 $0.00 $160.28 $28,685.42
116 $28,685.42 $177.75 $0.00 $162.19 $29,025.36
117 $29,025.36 $177.75 $0.00 $164.11 $29,367.22
118 $29,367.22 $177.75 $0.00 $166.05 $29,711.02
119 $29,711.02 $177.75 $0.00 $167.99 $30,056.76
120 $30,056.76 $177.75 $0.00 $169.95 $30,404.46
121 $30,404.46 $177.75 $0.00 $171.91 $30,754.12
122 $30,754.12 $177.75 $0.00 $173.89 $31,105.76
123 $31,105.76 $177.75 $0.00 $175.88 $31,459.39
124 $31,459.39 $177.75 $0.00 $177.88 $31,815.02
125 $31,815.02 $177.75 $0.00 $179.89 $32,172.66
126 $32,172.66 $177.75 $0.00 $181.91 $32,532.32
127 $32,532.32 $177.75 $0.00 $183.94 $32,894.01
128 $32,894.01 $177.75 $0.00 $185.99 $33,257.75
129 $33,257.75 $177.75 $0.00 $188.04 $33,623.54
130 $33,623.54 $177.75 $0.00 $190.11 $33,991.40
131 $33,991.40 $177.75 $0.00 $192.19 $34,361.34
132 $34,361.34 $177.75 $0.00 $194.28 $34,733.37
133 $34,733.37 $177.75 $0.00 $196.39 $35,107.51
134 $35,107.51 $177.75 $0.00 $198.50 $35,483.76
135 $35,483.76 $177.75 $0.00 $200.63 $35,862.14
136 $35,862.14 $177.75 $0.00 $202.77 $36,242.66
137 $36,242.66 $177.75 $0.00 $204.92 $36,625.33
138 $36,625.33 $177.75 $0.00 $207.08 $37,010.16
139 $37,010.16 $177.75 $0.00 $209.26 $37,397.17
140 $37,397.17 $177.75 $0.00 $211.45 $37,786.37
141 $37,786.37 $177.75 $0.00 $213.65 $38,177.77
142 $38,177.77 $177.75 $0.00 $215.86 $38,571.38
143 $38,571.38 $177.75 $0.00 $218.09 $38,967.22
144 $38,967.22 $177.75 $0.00 $220.33 $39,365.30
145 $39,365.30 $177.75 $0.00 $222.58 $39,765.63
146 $39,765.63 $177.75 $0.00 $224.84 $40,168.22
147 $40,168.22 $177.75 $0.00 $227.12 $40,573.09
148 $40,573.09 $177.75 $0.00 $229.41 $40,980.25
149 $40,980.25 $177.75 $0.00 $231.71 $41,389.71
150 $41,389.71 $177.75 $0.00 $234.02 $41,801.48
151 $41,801.48 $177.75 $0.00 $236.35 $42,215.58
152 $42,215.58 $177.75 $0.00 $238.69 $42,632.02
153 $42,632.02 $177.75 $0.00 $241.05 $43,050.82
154 $43,050.82 $177.75 $0.00 $243.42 $43,471.99
155 $43,471.99 $177.75 $0.00 $245.80 $43,895.54
156 $43,895.54 $177.75 $0.00 $248.19 $44,321.48
157 $44,321.48 $177.75 $0.00 $250.60 $44,749.83
158 $44,749.83 $177.75 $0.00 $253.02 $45,180.60
159 $45,180.60 $177.75 $0.00 $255.46 $45,613.81
160 $45,613.81 $177.75 $0.00 $257.91 $46,049.47
161 $46,049.47 $177.75 $0.00 $260.37 $46,487.59
162 $46,487.59 $177.75 $0.00 $262.85 $46,928.19
163 $46,928.19 $177.75 $0.00 $265.34 $47,371.28
164 $47,371.28 $177.75 $0.00 $267.84 $47,816.87
165 $47,816.87 $177.75 $0.00 $270.36 $48,264.98
166 $48,264.98 $177.75 $0.00 $272.90 $48,715.63
167 $48,715.63 $177.75 $0.00 $275.45 $49,168.83
168 $49,168.83 $177.75 $0.00 $278.01 $49,624.59
169 $49,624.59 $177.75 $0.00 $280.58 $50,082.92
170 $50,082.92 $177.75 $0.00 $283.18 $50,543.85
171 $50,543.85 $177.75 $0.00 $285.78 $51,007.38
172 $51,007.38 $177.75 $0.00 $288.40 $51,473.53
173 $51,473.53 $177.75 $0.00 $291.04 $51,942.32
174 $51,942.32 $177.75 $0.00 $293.69 $52,413.76
175 $52,413.76 $177.75 $0.00 $296.36 $52,887.87
176 $52,887.87 $177.75 $0.00 $299.04 $53,364.66
177 $53,364.66 $177.75 $0.00 $301.73 $53,844.14
178 $53,844.14 $177.75 $0.00 $304.44 $54,326.33
179 $54,326.33 $177.75 $0.00 $307.17 $54,811.25
180 $54,811.25 $177.75 $0.00 $309.91 $55,298.91
181 $55,298.91 $177.75 $0.00 $312.67 $55,789.33
182 $55,789.33 $177.75 $0.00 $315.44 $56,282.52
183 $56,282.52 $177.75 $0.00 $318.23 $56,778.50
184 $56,778.50 $177.75 $0.00 $321.03 $57,277.28
185 $57,277.28 $177.75 $0.00 $323.85 $57,778.88
186 $57,778.88 $177.75 $0.00 $326.69 $58,283.32
187 $58,283.32 $177.75 $0.00 $329.54 $58,790.61
188 $58,790.61 $177.75 $0.00 $332.41 $59,300.77
189 $59,300.77 $177.75 $0.00 $335.30 $59,813.82
190 $59,813.82 $177.75 $0.00 $338.20 $60,329.77
191 $60,329.77 $177.75 $0.00 $341.11 $60,848.63
192 $60,848.63 $177.75 $0.00 $344.05 $61,370.43
193 $61,370.43 $177.75 $0.00 $347.00 $61,895.18
194 $61,895.18 $177.75 $0.00 $349.96 $62,422.89
195 $62,422.89 $177.75 $0.00 $352.95 $62,953.59
196 $62,953.59 $177.75 $0.00 $355.95 $63,487.29
197 $63,487.29 $177.75 $0.00 $358.97 $64,024.01
198 $64,024.01 $177.75 $0.00 $362.00 $64,563.76
199 $64,563.76 $177.75 $0.00 $365.05 $65,106.56
200 $65,106.56 $177.75 $0.00 $368.12 $65,652.43
201 $65,652.43 $177.75 $0.00 $371.21 $66,201.39
202 $66,201.39 $177.75 $0.00 $374.31 $66,753.45
203 $66,753.45 $177.75 $0.00 $377.43 $67,308.63
204 $67,308.63 $177.75 $0.00 $380.57 $67,866.95
205 $67,866.95 $177.75 $0.00 $383.73 $68,428.43
206 $68,428.43 $177.75 $0.00 $386.90 $68,993.08
207 $68,993.08 $177.75 $0.00 $390.10 $69,560.93
208 $69,560.93 $177.75 $0.00 $393.31 $70,131.99
209 $70,131.99 $177.75 $0.00 $396.54 $70,706.28
210 $70,706.28 $177.75 $0.00 $399.78 $71,283.81
211 $71,283.81 $177.75 $0.00 $403.05 $71,864.61
212 $71,864.61 $177.75 $0.00 $406.33 $72,448.69
213 $72,448.69 $177.75 $0.00 $409.64 $73,036.08
214 $73,036.08 $177.75 $0.00 $412.96 $73,626.79
215 $73,626.79 $177.75 $0.00 $416.30 $74,220.84
216 $74,220.84 $177.75 $0.00 $419.66 $74,818.25
217 $74,818.25 $177.75 $39,020.92 $423.03 $36,398.11
218 $36,398.11 $177.75 $0.00 $205.80 $36,781.66
219 $36,781.66 $177.75 $0.00 $207.97 $37,167.38
220 $37,167.38 $177.75 $0.00 $210.15 $37,555.28
221 $37,555.28 $177.75 $0.00 $212.34 $37,945.37
222 $37,945.37 $177.75 $0.00 $214.55 $38,337.67
223 $38,337.67 $177.75 $0.00 $216.77 $38,732.19
224 $38,732.19 $177.75 $0.00 $219.00 $39,128.94
225 $39,128.94 $177.75 $0.00 $221.24 $39,527.93
226 $39,527.93 $177.75 $0.00 $223.50 $39,929.18
227 $39,929.18 $177.75 $0.00 $225.77 $40,332.70
228 $40,332.70 $177.75 $0.00 $228.05 $40,738.50
229 $40,738.50 $0.00 $40,971.97 $230.34 ($3.13)