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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$80,654
Monthly savings required$638

How much will it cost to send your child to Christopher Newport University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $322,615.75 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $638.44 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$31,102.00
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 $638.44 $0.00 $0.00 $638.44
2 $638.44 $638.44 $0.00 $3.61 $1,280.49
3 $1,280.49 $638.44 $0.00 $7.24 $1,926.17
4 $1,926.17 $638.44 $0.00 $10.89 $2,575.50
5 $2,575.50 $638.44 $0.00 $14.56 $3,228.50
6 $3,228.50 $638.44 $0.00 $18.25 $3,885.19
7 $3,885.19 $638.44 $0.00 $21.97 $4,545.60
8 $4,545.60 $638.44 $0.00 $25.70 $5,209.74
9 $5,209.74 $638.44 $0.00 $29.46 $5,877.64
10 $5,877.64 $638.44 $0.00 $33.23 $6,549.31
11 $6,549.31 $638.44 $0.00 $37.03 $7,224.78
12 $7,224.78 $638.44 $0.00 $40.85 $7,904.07
13 $7,904.07 $638.44 $0.00 $44.69 $8,587.20
14 $8,587.20 $638.44 $0.00 $48.55 $9,274.19
15 $9,274.19 $638.44 $0.00 $52.44 $9,965.07
16 $9,965.07 $638.44 $0.00 $56.34 $10,659.85
17 $10,659.85 $638.44 $0.00 $60.27 $11,358.56
18 $11,358.56 $638.44 $0.00 $64.22 $12,061.22
19 $12,061.22 $638.44 $0.00 $68.20 $12,767.86
20 $12,767.86 $638.44 $0.00 $72.19 $13,478.49
21 $13,478.49 $638.44 $0.00 $76.21 $14,193.14
22 $14,193.14 $638.44 $0.00 $80.25 $14,911.83
23 $14,911.83 $638.44 $0.00 $84.31 $15,634.58
24 $15,634.58 $638.44 $0.00 $88.40 $16,361.42
25 $16,361.42 $638.44 $0.00 $92.51 $17,092.37
26 $17,092.37 $638.44 $0.00 $96.64 $17,827.45
27 $17,827.45 $638.44 $0.00 $100.80 $18,566.69
28 $18,566.69 $638.44 $0.00 $104.98 $19,310.11
29 $19,310.11 $638.44 $0.00 $109.18 $20,057.73
30 $20,057.73 $638.44 $0.00 $113.41 $20,809.58
31 $20,809.58 $638.44 $0.00 $117.66 $21,565.68
32 $21,565.68 $638.44 $0.00 $121.94 $22,326.06
33 $22,326.06 $638.44 $0.00 $126.23 $23,090.73
34 $23,090.73 $638.44 $0.00 $130.56 $23,859.73
35 $23,859.73 $638.44 $0.00 $134.91 $24,633.08
36 $24,633.08 $638.44 $0.00 $139.28 $25,410.80
37 $25,410.80 $638.44 $0.00 $143.68 $26,192.92
38 $26,192.92 $638.44 $0.00 $148.10 $26,979.46
39 $26,979.46 $638.44 $0.00 $152.55 $27,770.45
40 $27,770.45 $638.44 $0.00 $157.02 $28,565.91
41 $28,565.91 $638.44 $0.00 $161.52 $29,365.87
42 $29,365.87 $638.44 $0.00 $166.04 $30,170.35
43 $30,170.35 $638.44 $0.00 $170.59 $30,979.38
44 $30,979.38 $638.44 $0.00 $175.16 $31,792.98
45 $31,792.98 $638.44 $0.00 $179.76 $32,611.18
46 $32,611.18 $638.44 $0.00 $184.39 $33,434.01
47 $33,434.01 $638.44 $0.00 $189.04 $34,261.49
48 $34,261.49 $638.44 $0.00 $193.72 $35,093.65
49 $35,093.65 $638.44 $0.00 $198.42 $35,930.51
50 $35,930.51 $638.44 $0.00 $203.16 $36,772.11
51 $36,772.11 $638.44 $0.00 $207.91 $37,618.46
52 $37,618.46 $638.44 $0.00 $212.70 $38,469.60
53 $38,469.60 $638.44 $0.00 $217.51 $39,325.55
54 $39,325.55 $638.44 $0.00 $222.35 $40,186.34
55 $40,186.34 $638.44 $0.00 $227.22 $41,052.00
56 $41,052.00 $638.44 $0.00 $232.11 $41,922.55
57 $41,922.55 $638.44 $0.00 $237.04 $42,798.03
58 $42,798.03 $638.44 $0.00 $241.99 $43,678.46
59 $43,678.46 $638.44 $0.00 $246.96 $44,563.86
60 $44,563.86 $638.44 $0.00 $251.97 $45,454.27
61 $45,454.27 $638.44 $0.00 $257.01 $46,349.72
62 $46,349.72 $638.44 $0.00 $262.07 $47,250.23
63 $47,250.23 $638.44 $0.00 $267.16 $48,155.83
64 $48,155.83 $638.44 $0.00 $272.28 $49,066.55
65 $49,066.55 $638.44 $0.00 $277.43 $49,982.42
66 $49,982.42 $638.44 $0.00 $282.61 $50,903.47
67 $50,903.47 $638.44 $0.00 $287.82 $51,829.73
68 $51,829.73 $638.44 $0.00 $293.05 $52,761.22
69 $52,761.22 $638.44 $0.00 $298.32 $53,697.98
70 $53,697.98 $638.44 $0.00 $303.62 $54,640.04
71 $54,640.04 $638.44 $0.00 $308.94 $55,587.42
72 $55,587.42 $638.44 $0.00 $314.30 $56,540.16
73 $56,540.16 $638.44 $0.00 $319.69 $57,498.29
74 $57,498.29 $638.44 $0.00 $325.10 $58,461.83
75 $58,461.83 $638.44 $0.00 $330.55 $59,430.82
76 $59,430.82 $638.44 $0.00 $336.03 $60,405.29
77 $60,405.29 $638.44 $0.00 $341.54 $61,385.27
78 $61,385.27 $638.44 $0.00 $347.08 $62,370.79
79 $62,370.79 $638.44 $0.00 $352.65 $63,361.88
80 $63,361.88 $638.44 $0.00 $358.26 $64,358.58
81 $64,358.58 $638.44 $0.00 $363.89 $65,360.91
82 $65,360.91 $638.44 $0.00 $369.56 $66,368.91
83 $66,368.91 $638.44 $0.00 $375.26 $67,382.61
84 $67,382.61 $638.44 $0.00 $380.99 $68,402.04
85 $68,402.04 $638.44 $0.00 $386.76 $69,427.24
86 $69,427.24 $638.44 $0.00 $392.55 $70,458.23
87 $70,458.23 $638.44 $0.00 $398.38 $71,495.05
88 $71,495.05 $638.44 $0.00 $404.24 $72,537.73
89 $72,537.73 $638.44 $0.00 $410.14 $73,586.31
90 $73,586.31 $638.44 $0.00 $416.07 $74,640.82
91 $74,640.82 $638.44 $0.00 $422.03 $75,701.29
92 $75,701.29 $638.44 $0.00 $428.03 $76,767.76
93 $76,767.76 $638.44 $0.00 $434.06 $77,840.26
94 $77,840.26 $638.44 $0.00 $440.12 $78,918.82
95 $78,918.82 $638.44 $0.00 $446.22 $80,003.48
96 $80,003.48 $638.44 $0.00 $452.35 $81,094.27
97 $81,094.27 $638.44 $0.00 $458.52 $82,191.23
98 $82,191.23 $638.44 $0.00 $464.72 $83,294.39
99 $83,294.39 $638.44 $0.00 $470.96 $84,403.79
100 $84,403.79 $638.44 $0.00 $477.23 $85,519.46
101 $85,519.46 $638.44 $0.00 $483.54 $86,641.44
102 $86,641.44 $638.44 $0.00 $489.88 $87,769.76
103 $87,769.76 $638.44 $0.00 $496.26 $88,904.46
104 $88,904.46 $638.44 $0.00 $502.68 $90,045.58
105 $90,045.58 $638.44 $0.00 $509.13 $91,193.15
106 $91,193.15 $638.44 $0.00 $515.62 $92,347.21
107 $92,347.21 $638.44 $0.00 $522.14 $93,507.79
108 $93,507.79 $638.44 $0.00 $528.71 $94,674.94
109 $94,674.94 $638.44 $0.00 $535.31 $95,848.69
110 $95,848.69 $638.44 $0.00 $541.94 $97,029.07
111 $97,029.07 $638.44 $0.00 $548.62 $98,216.13
112 $98,216.13 $638.44 $0.00 $555.33 $99,409.90
113 $99,409.90 $638.44 $0.00 $562.08 $100,610.42
114 $100,610.42 $638.44 $0.00 $568.87 $101,817.73
115 $101,817.73 $638.44 $0.00 $575.69 $103,031.86
116 $103,031.86 $638.44 $0.00 $582.56 $104,252.86
117 $104,252.86 $638.44 $0.00 $589.46 $105,480.76
118 $105,480.76 $638.44 $0.00 $596.40 $106,715.60
119 $106,715.60 $638.44 $0.00 $603.39 $107,957.43
120 $107,957.43 $638.44 $0.00 $610.41 $109,206.28
121 $109,206.28 $638.44 $0.00 $617.47 $110,462.19
122 $110,462.19 $638.44 $0.00 $624.57 $111,725.20
123 $111,725.20 $638.44 $0.00 $631.71 $112,995.35
124 $112,995.35 $638.44 $0.00 $638.89 $114,272.68
125 $114,272.68 $638.44 $0.00 $646.11 $115,557.23
126 $115,557.23 $638.44 $0.00 $653.38 $116,849.05
127 $116,849.05 $638.44 $0.00 $660.68 $118,148.17
128 $118,148.17 $638.44 $0.00 $668.03 $119,454.64
129 $119,454.64 $638.44 $0.00 $675.41 $120,768.49
130 $120,768.49 $638.44 $0.00 $682.84 $122,089.77
131 $122,089.77 $638.44 $0.00 $690.31 $123,418.52
132 $123,418.52 $638.44 $0.00 $697.83 $124,754.79
133 $124,754.79 $638.44 $0.00 $705.38 $126,098.61
134 $126,098.61 $638.44 $0.00 $712.98 $127,450.03
135 $127,450.03 $638.44 $0.00 $720.62 $128,809.09
136 $128,809.09 $638.44 $0.00 $728.31 $130,175.84
137 $130,175.84 $638.44 $0.00 $736.03 $131,550.31
138 $131,550.31 $638.44 $0.00 $743.80 $132,932.55
139 $132,932.55 $638.44 $0.00 $751.62 $134,322.61
140 $134,322.61 $638.44 $0.00 $759.48 $135,720.53
141 $135,720.53 $638.44 $0.00 $767.38 $137,126.35
142 $137,126.35 $638.44 $0.00 $775.33 $138,540.12
143 $138,540.12 $638.44 $0.00 $783.33 $139,961.89
144 $139,961.89 $638.44 $0.00 $791.36 $141,391.69
145 $141,391.69 $638.44 $0.00 $799.45 $142,829.58
146 $142,829.58 $638.44 $0.00 $807.58 $144,275.60
147 $144,275.60 $638.44 $0.00 $815.76 $145,729.80
148 $145,729.80 $638.44 $0.00 $823.98 $147,192.22
149 $147,192.22 $638.44 $0.00 $832.25 $148,662.91
150 $148,662.91 $638.44 $0.00 $840.56 $150,141.91
151 $150,141.91 $638.44 $0.00 $848.92 $151,629.27
152 $151,629.27 $638.44 $0.00 $857.33 $153,125.04
153 $153,125.04 $638.44 $0.00 $865.79 $154,629.27
154 $154,629.27 $638.44 $0.00 $874.30 $156,142.01
155 $156,142.01 $638.44 $0.00 $882.85 $157,663.30
156 $157,663.30 $638.44 $0.00 $891.45 $159,193.19
157 $159,193.19 $638.44 $0.00 $900.10 $160,731.73
158 $160,731.73 $638.44 $0.00 $908.80 $162,278.97
159 $162,278.97 $638.44 $0.00 $917.55 $163,834.96
160 $163,834.96 $638.44 $0.00 $926.35 $165,399.75
161 $165,399.75 $638.44 $0.00 $935.19 $166,973.38
162 $166,973.38 $638.44 $0.00 $944.09 $168,555.91
163 $168,555.91 $638.44 $0.00 $953.04 $170,147.39
164 $170,147.39 $638.44 $0.00 $962.04 $171,747.87
165 $171,747.87 $638.44 $0.00 $971.09 $173,357.40
166 $173,357.40 $638.44 $0.00 $980.19 $174,976.03
167 $174,976.03 $638.44 $0.00 $989.34 $176,603.81
168 $176,603.81 $638.44 $0.00 $998.54 $178,240.79
169 $178,240.79 $638.44 $0.00 $1,007.80 $179,887.03
170 $179,887.03 $638.44 $0.00 $1,017.11 $181,542.58
171 $181,542.58 $638.44 $0.00 $1,026.47 $183,207.49
172 $183,207.49 $638.44 $0.00 $1,035.88 $184,881.81
173 $184,881.81 $638.44 $0.00 $1,045.35 $186,565.60
174 $186,565.60 $638.44 $0.00 $1,054.87 $188,258.91
175 $188,258.91 $638.44 $0.00 $1,064.44 $189,961.79
176 $189,961.79 $638.44 $0.00 $1,074.07 $191,674.30
177 $191,674.30 $638.44 $0.00 $1,083.75 $193,396.49
178 $193,396.49 $638.44 $0.00 $1,093.49 $195,128.42
179 $195,128.42 $638.44 $0.00 $1,103.28 $196,870.14
180 $196,870.14 $638.44 $0.00 $1,113.13 $198,621.71
181 $198,621.71 $638.44 $0.00 $1,123.04 $200,383.19
182 $200,383.19 $638.44 $0.00 $1,133.00 $202,154.63
183 $202,154.63 $638.44 $0.00 $1,143.01 $203,936.08
184 $203,936.08 $638.44 $0.00 $1,153.08 $205,727.60
185 $205,727.60 $638.44 $0.00 $1,163.21 $207,529.25
186 $207,529.25 $638.44 $0.00 $1,173.40 $209,341.09
187 $209,341.09 $638.44 $0.00 $1,183.64 $211,163.17
188 $211,163.17 $638.44 $0.00 $1,193.95 $212,995.56
189 $212,995.56 $638.44 $0.00 $1,204.31 $214,838.31
190 $214,838.31 $638.44 $0.00 $1,214.73 $216,691.48
191 $216,691.48 $638.44 $0.00 $1,225.21 $218,555.13
192 $218,555.13 $638.44 $0.00 $1,235.74 $220,429.31
193 $220,429.31 $638.44 $0.00 $1,246.34 $222,314.09
194 $222,314.09 $638.44 $0.00 $1,257.00 $224,209.53
195 $224,209.53 $638.44 $0.00 $1,267.71 $226,115.68
196 $226,115.68 $638.44 $0.00 $1,278.49 $228,032.61
197 $228,032.61 $638.44 $0.00 $1,289.33 $229,960.38
198 $229,960.38 $638.44 $0.00 $1,300.23 $231,899.05
199 $231,899.05 $638.44 $0.00 $1,311.19 $233,848.68
200 $233,848.68 $638.44 $0.00 $1,322.21 $235,809.33
201 $235,809.33 $638.44 $0.00 $1,333.30 $237,781.07
202 $237,781.07 $638.44 $0.00 $1,344.45 $239,763.96
203 $239,763.96 $638.44 $0.00 $1,355.66 $241,758.06
204 $241,758.06 $638.44 $0.00 $1,366.94 $243,763.44
205 $243,763.44 $638.44 $0.00 $1,378.27 $245,780.15
206 $245,780.15 $638.44 $0.00 $1,389.68 $247,808.27
207 $247,808.27 $638.44 $0.00 $1,401.14 $249,847.85
208 $249,847.85 $638.44 $0.00 $1,412.68 $251,898.97
209 $251,898.97 $638.44 $0.00 $1,424.27 $253,961.68
210 $253,961.68 $638.44 $0.00 $1,435.94 $256,036.06
211 $256,036.06 $638.44 $0.00 $1,447.67 $258,122.17
212 $258,122.17 $638.44 $0.00 $1,459.46 $260,220.07
213 $260,220.07 $638.44 $0.00 $1,471.32 $262,329.83
214 $262,329.83 $638.44 $0.00 $1,483.25 $264,451.52
215 $264,451.52 $638.44 $0.00 $1,495.25 $266,585.21
216 $266,585.21 $638.44 $0.00 $1,507.31 $268,730.96
217 $268,730.96 $638.44 $74,850.67 $1,519.44 $196,038.17
218 $196,038.17 $638.44 $0.00 $1,108.43 $197,785.04
219 $197,785.04 $638.44 $0.00 $1,118.31 $199,541.79
220 $199,541.79 $638.44 $0.00 $1,128.24 $201,308.47
221 $201,308.47 $638.44 $0.00 $1,138.23 $203,085.14
222 $203,085.14 $638.44 $0.00 $1,148.27 $204,871.85
223 $204,871.85 $638.44 $0.00 $1,158.38 $206,668.67
224 $206,668.67 $638.44 $0.00 $1,168.53 $208,475.64
225 $208,475.64 $638.44 $0.00 $1,178.75 $210,292.83
226 $210,292.83 $638.44 $0.00 $1,189.03 $212,120.30
227 $212,120.30 $638.44 $0.00 $1,199.36 $213,958.10
228 $213,958.10 $638.44 $0.00 $1,209.75 $215,806.29
229 $215,806.29 $638.44 $78,593.20 $1,220.20 $139,071.73
230 $139,071.73 $638.44 $0.00 $786.33 $140,496.50
231 $140,496.50 $638.44 $0.00 $794.39 $141,929.33
232 $141,929.33 $638.44 $0.00 $802.49 $143,370.26
233 $143,370.26 $638.44 $0.00 $810.64 $144,819.34
234 $144,819.34 $638.44 $0.00 $818.83 $146,276.61
235 $146,276.61 $638.44 $0.00 $827.07 $147,742.12
236 $147,742.12 $638.44 $0.00 $835.36 $149,215.92
237 $149,215.92 $638.44 $0.00 $843.69 $150,698.05
238 $150,698.05 $638.44 $0.00 $852.07 $152,188.56
239 $152,188.56 $638.44 $0.00 $860.50 $153,687.50
240 $153,687.50 $638.44 $0.00 $868.97 $155,194.91
241 $155,194.91 $638.44 $82,522.87 $877.49 $74,187.97
242 $74,187.97 $638.44 $0.00 $419.47 $75,245.88
243 $75,245.88 $638.44 $0.00 $425.45 $76,309.77
244 $76,309.77 $638.44 $0.00 $431.47 $77,379.68
245 $77,379.68 $638.44 $0.00 $437.52 $78,455.64
246 $78,455.64 $638.44 $0.00 $443.60 $79,537.68
247 $79,537.68 $638.44 $0.00 $449.72 $80,625.84
248 $80,625.84 $638.44 $0.00 $455.87 $81,720.15
249 $81,720.15 $638.44 $0.00 $462.06 $82,820.65
250 $82,820.65 $638.44 $0.00 $468.28 $83,927.37
251 $83,927.37 $638.44 $0.00 $474.54 $85,040.35
252 $85,040.35 $638.44 $0.00 $480.83 $86,159.62
253 $86,159.62 $0.00 $86,649.01 $487.16 ($2.23)