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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$38,494
Monthly savings required$171

How much will it cost to send your child to New River Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $76,988.35 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $171.08 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$15,605.00
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 $171.08 $0.00 $0.00 $171.08
2 $171.08 $171.08 $0.00 $0.97 $343.13
3 $343.13 $171.08 $0.00 $1.94 $516.15
4 $516.15 $171.08 $0.00 $2.92 $690.15
5 $690.15 $171.08 $0.00 $3.90 $865.13
6 $865.13 $171.08 $0.00 $4.89 $1,041.10
7 $1,041.10 $171.08 $0.00 $5.89 $1,218.07
8 $1,218.07 $171.08 $0.00 $6.89 $1,396.04
9 $1,396.04 $171.08 $0.00 $7.89 $1,575.01
10 $1,575.01 $171.08 $0.00 $8.91 $1,755.00
11 $1,755.00 $171.08 $0.00 $9.92 $1,936.00
12 $1,936.00 $171.08 $0.00 $10.95 $2,118.03
13 $2,118.03 $171.08 $0.00 $11.98 $2,301.09
14 $2,301.09 $171.08 $0.00 $13.01 $2,485.18
15 $2,485.18 $171.08 $0.00 $14.05 $2,670.31
16 $2,670.31 $171.08 $0.00 $15.10 $2,856.49
17 $2,856.49 $171.08 $0.00 $16.15 $3,043.72
18 $3,043.72 $171.08 $0.00 $17.21 $3,232.01
19 $3,232.01 $171.08 $0.00 $18.27 $3,421.36
20 $3,421.36 $171.08 $0.00 $19.34 $3,611.78
21 $3,611.78 $171.08 $0.00 $20.42 $3,803.28
22 $3,803.28 $171.08 $0.00 $21.50 $3,995.86
23 $3,995.86 $171.08 $0.00 $22.59 $4,189.53
24 $4,189.53 $171.08 $0.00 $23.69 $4,384.30
25 $4,384.30 $171.08 $0.00 $24.79 $4,580.17
26 $4,580.17 $171.08 $0.00 $25.90 $4,777.15
27 $4,777.15 $171.08 $0.00 $27.01 $4,975.24
28 $4,975.24 $171.08 $0.00 $28.13 $5,174.45
29 $5,174.45 $171.08 $0.00 $29.26 $5,374.79
30 $5,374.79 $171.08 $0.00 $30.39 $5,576.26
31 $5,576.26 $171.08 $0.00 $31.53 $5,778.87
32 $5,778.87 $171.08 $0.00 $32.67 $5,982.62
33 $5,982.62 $171.08 $0.00 $33.83 $6,187.53
34 $6,187.53 $171.08 $0.00 $34.99 $6,393.60
35 $6,393.60 $171.08 $0.00 $36.15 $6,600.83
36 $6,600.83 $171.08 $0.00 $37.32 $6,809.23
37 $6,809.23 $171.08 $0.00 $38.50 $7,018.81
38 $7,018.81 $171.08 $0.00 $39.69 $7,229.58
39 $7,229.58 $171.08 $0.00 $40.88 $7,441.54
40 $7,441.54 $171.08 $0.00 $42.08 $7,654.70
41 $7,654.70 $171.08 $0.00 $43.28 $7,869.06
42 $7,869.06 $171.08 $0.00 $44.49 $8,084.63
43 $8,084.63 $171.08 $0.00 $45.71 $8,301.42
44 $8,301.42 $171.08 $0.00 $46.94 $8,519.44
45 $8,519.44 $171.08 $0.00 $48.17 $8,738.69
46 $8,738.69 $171.08 $0.00 $49.41 $8,959.18
47 $8,959.18 $171.08 $0.00 $50.66 $9,180.92
48 $9,180.92 $171.08 $0.00 $51.91 $9,403.91
49 $9,403.91 $171.08 $0.00 $53.17 $9,628.16
50 $9,628.16 $171.08 $0.00 $54.44 $9,853.68
51 $9,853.68 $171.08 $0.00 $55.71 $10,080.47
52 $10,080.47 $171.08 $0.00 $57.00 $10,308.55
53 $10,308.55 $171.08 $0.00 $58.29 $10,537.92
54 $10,537.92 $171.08 $0.00 $59.58 $10,768.58
55 $10,768.58 $171.08 $0.00 $60.89 $11,000.55
56 $11,000.55 $171.08 $0.00 $62.20 $11,233.83
57 $11,233.83 $171.08 $0.00 $63.52 $11,468.43
58 $11,468.43 $171.08 $0.00 $64.84 $11,704.35
59 $11,704.35 $171.08 $0.00 $66.18 $11,941.61
60 $11,941.61 $171.08 $0.00 $67.52 $12,180.21
61 $12,180.21 $171.08 $0.00 $68.87 $12,420.16
62 $12,420.16 $171.08 $0.00 $70.23 $12,661.47
63 $12,661.47 $171.08 $0.00 $71.59 $12,904.14
64 $12,904.14 $171.08 $0.00 $72.96 $13,148.18
65 $13,148.18 $171.08 $0.00 $74.34 $13,393.60
66 $13,393.60 $171.08 $0.00 $75.73 $13,640.41
67 $13,640.41 $171.08 $0.00 $77.12 $13,888.61
68 $13,888.61 $171.08 $0.00 $78.53 $14,138.22
69 $14,138.22 $171.08 $0.00 $79.94 $14,389.24
70 $14,389.24 $171.08 $0.00 $81.36 $14,641.68
71 $14,641.68 $171.08 $0.00 $82.79 $14,895.55
72 $14,895.55 $171.08 $0.00 $84.22 $15,150.85
73 $15,150.85 $171.08 $0.00 $85.67 $15,407.60
74 $15,407.60 $171.08 $0.00 $87.12 $15,665.80
75 $15,665.80 $171.08 $0.00 $88.58 $15,925.46
76 $15,925.46 $171.08 $0.00 $90.04 $16,186.58
77 $16,186.58 $171.08 $0.00 $91.52 $16,449.18
78 $16,449.18 $171.08 $0.00 $93.01 $16,713.27
79 $16,713.27 $171.08 $0.00 $94.50 $16,978.85
80 $16,978.85 $171.08 $0.00 $96.00 $17,245.93
81 $17,245.93 $171.08 $0.00 $97.51 $17,514.52
82 $17,514.52 $171.08 $0.00 $99.03 $17,784.63
83 $17,784.63 $171.08 $0.00 $100.56 $18,056.27
84 $18,056.27 $171.08 $0.00 $102.09 $18,329.44
85 $18,329.44 $171.08 $0.00 $103.64 $18,604.16
86 $18,604.16 $171.08 $0.00 $105.19 $18,880.43
87 $18,880.43 $171.08 $0.00 $106.75 $19,158.26
88 $19,158.26 $171.08 $0.00 $108.32 $19,437.66
89 $19,437.66 $171.08 $0.00 $109.90 $19,718.64
90 $19,718.64 $171.08 $0.00 $111.49 $20,001.21
91 $20,001.21 $171.08 $0.00 $113.09 $20,285.38
92 $20,285.38 $171.08 $0.00 $114.70 $20,571.16
93 $20,571.16 $171.08 $0.00 $116.31 $20,858.55
94 $20,858.55 $171.08 $0.00 $117.94 $21,147.57
95 $21,147.57 $171.08 $0.00 $119.57 $21,438.22
96 $21,438.22 $171.08 $0.00 $121.21 $21,730.51
97 $21,730.51 $171.08 $0.00 $122.87 $22,024.46
98 $22,024.46 $171.08 $0.00 $124.53 $22,320.07
99 $22,320.07 $171.08 $0.00 $126.20 $22,617.35
100 $22,617.35 $171.08 $0.00 $127.88 $22,916.31
101 $22,916.31 $171.08 $0.00 $129.57 $23,216.96
102 $23,216.96 $171.08 $0.00 $131.27 $23,519.31
103 $23,519.31 $171.08 $0.00 $132.98 $23,823.37
104 $23,823.37 $171.08 $0.00 $134.70 $24,129.15
105 $24,129.15 $171.08 $0.00 $136.43 $24,436.66
106 $24,436.66 $171.08 $0.00 $138.17 $24,745.91
107 $24,745.91 $171.08 $0.00 $139.92 $25,056.91
108 $25,056.91 $171.08 $0.00 $141.68 $25,369.67
109 $25,369.67 $171.08 $0.00 $143.44 $25,684.19
110 $25,684.19 $171.08 $0.00 $145.22 $26,000.49
111 $26,000.49 $171.08 $0.00 $147.01 $26,318.58
112 $26,318.58 $171.08 $0.00 $148.81 $26,638.47
113 $26,638.47 $171.08 $0.00 $150.62 $26,960.17
114 $26,960.17 $171.08 $0.00 $152.44 $27,283.69
115 $27,283.69 $171.08 $0.00 $154.27 $27,609.04
116 $27,609.04 $171.08 $0.00 $156.11 $27,936.23
117 $27,936.23 $171.08 $0.00 $157.96 $28,265.27
118 $28,265.27 $171.08 $0.00 $159.82 $28,596.17
119 $28,596.17 $171.08 $0.00 $161.69 $28,928.94
120 $28,928.94 $171.08 $0.00 $163.57 $29,263.59
121 $29,263.59 $171.08 $0.00 $165.46 $29,600.13
122 $29,600.13 $171.08 $0.00 $167.36 $29,938.57
123 $29,938.57 $171.08 $0.00 $169.28 $30,278.93
124 $30,278.93 $171.08 $0.00 $171.20 $30,621.21
125 $30,621.21 $171.08 $0.00 $173.14 $30,965.43
126 $30,965.43 $171.08 $0.00 $175.08 $31,311.59
127 $31,311.59 $171.08 $0.00 $177.04 $31,659.71
128 $31,659.71 $171.08 $0.00 $179.01 $32,009.80
129 $32,009.80 $171.08 $0.00 $180.99 $32,361.87
130 $32,361.87 $171.08 $0.00 $182.98 $32,715.93
131 $32,715.93 $171.08 $0.00 $184.98 $33,071.99
132 $33,071.99 $171.08 $0.00 $186.99 $33,430.06
133 $33,430.06 $171.08 $0.00 $189.02 $33,790.16
134 $33,790.16 $171.08 $0.00 $191.05 $34,152.29
135 $34,152.29 $171.08 $0.00 $193.10 $34,516.47
136 $34,516.47 $171.08 $0.00 $195.16 $34,882.71
137 $34,882.71 $171.08 $0.00 $197.23 $35,251.02
138 $35,251.02 $171.08 $0.00 $199.31 $35,621.41
139 $35,621.41 $171.08 $0.00 $201.41 $35,993.90
140 $35,993.90 $171.08 $0.00 $203.51 $36,368.49
141 $36,368.49 $171.08 $0.00 $205.63 $36,745.20
142 $36,745.20 $171.08 $0.00 $207.76 $37,124.04
143 $37,124.04 $171.08 $0.00 $209.90 $37,505.02
144 $37,505.02 $171.08 $0.00 $212.06 $37,888.16
145 $37,888.16 $171.08 $0.00 $214.23 $38,273.47
146 $38,273.47 $171.08 $0.00 $216.40 $38,660.95
147 $38,660.95 $171.08 $0.00 $218.59 $39,050.62
148 $39,050.62 $171.08 $0.00 $220.80 $39,442.50
149 $39,442.50 $171.08 $0.00 $223.01 $39,836.59
150 $39,836.59 $171.08 $0.00 $225.24 $40,232.91
151 $40,232.91 $171.08 $0.00 $227.48 $40,631.47
152 $40,631.47 $171.08 $0.00 $229.74 $41,032.29
153 $41,032.29 $171.08 $0.00 $232.00 $41,435.37
154 $41,435.37 $171.08 $0.00 $234.28 $41,840.73
155 $41,840.73 $171.08 $0.00 $236.57 $42,248.38
156 $42,248.38 $171.08 $0.00 $238.88 $42,658.34
157 $42,658.34 $171.08 $0.00 $241.20 $43,070.62
158 $43,070.62 $171.08 $0.00 $243.53 $43,485.23
159 $43,485.23 $171.08 $0.00 $245.87 $43,902.18
160 $43,902.18 $171.08 $0.00 $248.23 $44,321.49
161 $44,321.49 $171.08 $0.00 $250.60 $44,743.17
162 $44,743.17 $171.08 $0.00 $252.98 $45,167.23
163 $45,167.23 $171.08 $0.00 $255.38 $45,593.69
164 $45,593.69 $171.08 $0.00 $257.79 $46,022.56
165 $46,022.56 $171.08 $0.00 $260.22 $46,453.86
166 $46,453.86 $171.08 $0.00 $262.66 $46,887.60
167 $46,887.60 $171.08 $0.00 $265.11 $47,323.79
168 $47,323.79 $171.08 $0.00 $267.58 $47,762.45
169 $47,762.45 $171.08 $0.00 $270.06 $48,203.59
170 $48,203.59 $171.08 $0.00 $272.55 $48,647.22
171 $48,647.22 $171.08 $0.00 $275.06 $49,093.36
172 $49,093.36 $171.08 $0.00 $277.58 $49,542.02
173 $49,542.02 $171.08 $0.00 $280.12 $49,993.22
174 $49,993.22 $171.08 $0.00 $282.67 $50,446.97
175 $50,446.97 $171.08 $0.00 $285.23 $50,903.28
176 $50,903.28 $171.08 $0.00 $287.81 $51,362.17
177 $51,362.17 $171.08 $0.00 $290.41 $51,823.66
178 $51,823.66 $171.08 $0.00 $293.02 $52,287.76
179 $52,287.76 $171.08 $0.00 $295.64 $52,754.48
180 $52,754.48 $171.08 $0.00 $298.28 $53,223.84
181 $53,223.84 $171.08 $0.00 $300.94 $53,695.86
182 $53,695.86 $171.08 $0.00 $303.60 $54,170.54
183 $54,170.54 $171.08 $0.00 $306.29 $54,647.91
184 $54,647.91 $171.08 $0.00 $308.99 $55,127.98
185 $55,127.98 $171.08 $0.00 $311.70 $55,610.76
186 $55,610.76 $171.08 $0.00 $314.43 $56,096.27
187 $56,096.27 $171.08 $0.00 $317.18 $56,584.53
188 $56,584.53 $171.08 $0.00 $319.94 $57,075.55
189 $57,075.55 $171.08 $0.00 $322.71 $57,569.34
190 $57,569.34 $171.08 $0.00 $325.51 $58,065.93
191 $58,065.93 $171.08 $0.00 $328.31 $58,565.32
192 $58,565.32 $171.08 $0.00 $331.14 $59,067.54
193 $59,067.54 $171.08 $0.00 $333.98 $59,572.60
194 $59,572.60 $171.08 $0.00 $336.83 $60,080.51
195 $60,080.51 $171.08 $0.00 $339.70 $60,591.29
196 $60,591.29 $171.08 $0.00 $342.59 $61,104.96
197 $61,104.96 $171.08 $0.00 $345.50 $61,621.54
198 $61,621.54 $171.08 $0.00 $348.42 $62,141.04
199 $62,141.04 $171.08 $0.00 $351.35 $62,663.47
200 $62,663.47 $171.08 $0.00 $354.31 $63,188.86
201 $63,188.86 $171.08 $0.00 $357.28 $63,717.22
202 $63,717.22 $171.08 $0.00 $360.27 $64,248.57
203 $64,248.57 $171.08 $0.00 $363.27 $64,782.92
204 $64,782.92 $171.08 $0.00 $366.29 $65,320.29
205 $65,320.29 $171.08 $0.00 $369.33 $65,860.70
206 $65,860.70 $171.08 $0.00 $372.39 $66,404.17
207 $66,404.17 $171.08 $0.00 $375.46 $66,950.71
208 $66,950.71 $171.08 $0.00 $378.55 $67,500.34
209 $67,500.34 $171.08 $0.00 $381.66 $68,053.08
210 $68,053.08 $171.08 $0.00 $384.78 $68,608.94
211 $68,608.94 $171.08 $0.00 $387.92 $69,167.94
212 $69,167.94 $171.08 $0.00 $391.09 $69,730.11
213 $69,730.11 $171.08 $0.00 $394.26 $70,295.45
214 $70,295.45 $171.08 $0.00 $397.46 $70,863.99
215 $70,863.99 $171.08 $0.00 $400.68 $71,435.75
216 $71,435.75 $171.08 $0.00 $403.91 $72,010.74
217 $72,010.74 $171.08 $37,555.29 $407.16 $35,033.69
218 $35,033.69 $171.08 $0.00 $198.09 $35,402.86
219 $35,402.86 $171.08 $0.00 $200.17 $35,774.11
220 $35,774.11 $171.08 $0.00 $202.27 $36,147.46
221 $36,147.46 $171.08 $0.00 $204.38 $36,522.92
222 $36,522.92 $171.08 $0.00 $206.51 $36,900.51
223 $36,900.51 $171.08 $0.00 $208.64 $37,280.23
224 $37,280.23 $171.08 $0.00 $210.79 $37,662.10
225 $37,662.10 $171.08 $0.00 $212.95 $38,046.13
226 $38,046.13 $171.08 $0.00 $215.12 $38,432.33
227 $38,432.33 $171.08 $0.00 $217.30 $38,820.71
228 $38,820.71 $171.08 $0.00 $219.50 $39,211.29
229 $39,211.29 $0.00 $39,433.06 $221.71 ($0.06)