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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$38,770
Monthly savings required$172

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 $77,540.91 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $172.31 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$15,717.00
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 $172.31 $0.00 $0.00 $172.31
2 $172.31 $172.31 $0.00 $0.97 $345.59
3 $345.59 $172.31 $0.00 $1.95 $519.85
4 $519.85 $172.31 $0.00 $2.94 $695.10
5 $695.10 $172.31 $0.00 $3.93 $871.34
6 $871.34 $172.31 $0.00 $4.93 $1,048.58
7 $1,048.58 $172.31 $0.00 $5.93 $1,226.82
8 $1,226.82 $172.31 $0.00 $6.94 $1,406.07
9 $1,406.07 $172.31 $0.00 $7.95 $1,586.33
10 $1,586.33 $172.31 $0.00 $8.97 $1,767.61
11 $1,767.61 $172.31 $0.00 $9.99 $1,949.91
12 $1,949.91 $172.31 $0.00 $11.03 $2,133.25
13 $2,133.25 $172.31 $0.00 $12.06 $2,317.62
14 $2,317.62 $172.31 $0.00 $13.10 $2,503.03
15 $2,503.03 $172.31 $0.00 $14.15 $2,689.49
16 $2,689.49 $172.31 $0.00 $15.21 $2,877.01
17 $2,877.01 $172.31 $0.00 $16.27 $3,065.59
18 $3,065.59 $172.31 $0.00 $17.33 $3,255.23
19 $3,255.23 $172.31 $0.00 $18.41 $3,445.95
20 $3,445.95 $172.31 $0.00 $19.48 $3,637.74
21 $3,637.74 $172.31 $0.00 $20.57 $3,830.62
22 $3,830.62 $172.31 $0.00 $21.66 $4,024.59
23 $4,024.59 $172.31 $0.00 $22.76 $4,219.66
24 $4,219.66 $172.31 $0.00 $23.86 $4,415.83
25 $4,415.83 $172.31 $0.00 $24.97 $4,613.11
26 $4,613.11 $172.31 $0.00 $26.08 $4,811.50
27 $4,811.50 $172.31 $0.00 $27.20 $5,011.01
28 $5,011.01 $172.31 $0.00 $28.33 $5,211.65
29 $5,211.65 $172.31 $0.00 $29.47 $5,413.43
30 $5,413.43 $172.31 $0.00 $30.61 $5,616.35
31 $5,616.35 $172.31 $0.00 $31.76 $5,820.42
32 $5,820.42 $172.31 $0.00 $32.91 $6,025.64
33 $6,025.64 $172.31 $0.00 $34.07 $6,232.02
34 $6,232.02 $172.31 $0.00 $35.24 $6,439.57
35 $6,439.57 $172.31 $0.00 $36.41 $6,648.29
36 $6,648.29 $172.31 $0.00 $37.59 $6,858.19
37 $6,858.19 $172.31 $0.00 $38.78 $7,069.28
38 $7,069.28 $172.31 $0.00 $39.97 $7,281.56
39 $7,281.56 $172.31 $0.00 $41.17 $7,495.04
40 $7,495.04 $172.31 $0.00 $42.38 $7,709.73
41 $7,709.73 $172.31 $0.00 $43.59 $7,925.63
42 $7,925.63 $172.31 $0.00 $44.81 $8,142.75
43 $8,142.75 $172.31 $0.00 $46.04 $8,361.10
44 $8,361.10 $172.31 $0.00 $47.27 $8,580.68
45 $8,580.68 $172.31 $0.00 $48.52 $8,801.51
46 $8,801.51 $172.31 $0.00 $49.77 $9,023.59
47 $9,023.59 $172.31 $0.00 $51.02 $9,246.92
48 $9,246.92 $172.31 $0.00 $52.28 $9,471.51
49 $9,471.51 $172.31 $0.00 $53.55 $9,697.37
50 $9,697.37 $172.31 $0.00 $54.83 $9,924.51
51 $9,924.51 $172.31 $0.00 $56.11 $10,152.93
52 $10,152.93 $172.31 $0.00 $57.41 $10,382.65
53 $10,382.65 $172.31 $0.00 $58.71 $10,613.67
54 $10,613.67 $172.31 $0.00 $60.01 $10,845.99
55 $10,845.99 $172.31 $0.00 $61.32 $11,079.62
56 $11,079.62 $172.31 $0.00 $62.65 $11,314.58
57 $11,314.58 $172.31 $0.00 $63.97 $11,550.86
58 $11,550.86 $172.31 $0.00 $65.31 $11,788.48
59 $11,788.48 $172.31 $0.00 $66.65 $12,027.44
60 $12,027.44 $172.31 $0.00 $68.00 $12,267.75
61 $12,267.75 $172.31 $0.00 $69.36 $12,509.42
62 $12,509.42 $172.31 $0.00 $70.73 $12,752.46
63 $12,752.46 $172.31 $0.00 $72.10 $12,996.87
64 $12,996.87 $172.31 $0.00 $73.49 $13,242.67
65 $13,242.67 $172.31 $0.00 $74.88 $13,489.86
66 $13,489.86 $172.31 $0.00 $76.27 $13,738.44
67 $13,738.44 $172.31 $0.00 $77.68 $13,988.43
68 $13,988.43 $172.31 $0.00 $79.09 $14,239.83
69 $14,239.83 $172.31 $0.00 $80.51 $14,492.65
70 $14,492.65 $172.31 $0.00 $81.94 $14,746.90
71 $14,746.90 $172.31 $0.00 $83.38 $15,002.59
72 $15,002.59 $172.31 $0.00 $84.83 $15,259.73
73 $15,259.73 $172.31 $0.00 $86.28 $15,518.32
74 $15,518.32 $172.31 $0.00 $87.74 $15,778.37
75 $15,778.37 $172.31 $0.00 $89.21 $16,039.89
76 $16,039.89 $172.31 $0.00 $90.69 $16,302.89
77 $16,302.89 $172.31 $0.00 $92.18 $16,567.38
78 $16,567.38 $172.31 $0.00 $93.67 $16,833.36
79 $16,833.36 $172.31 $0.00 $95.18 $17,100.85
80 $17,100.85 $172.31 $0.00 $96.69 $17,369.85
81 $17,369.85 $172.31 $0.00 $98.21 $17,640.37
82 $17,640.37 $172.31 $0.00 $99.74 $17,912.42
83 $17,912.42 $172.31 $0.00 $101.28 $18,186.01
84 $18,186.01 $172.31 $0.00 $102.83 $18,461.15
85 $18,461.15 $172.31 $0.00 $104.38 $18,737.84
86 $18,737.84 $172.31 $0.00 $105.95 $19,016.10
87 $19,016.10 $172.31 $0.00 $107.52 $19,295.93
88 $19,295.93 $172.31 $0.00 $109.10 $19,577.34
89 $19,577.34 $172.31 $0.00 $110.69 $19,860.34
90 $19,860.34 $172.31 $0.00 $112.29 $20,144.94
91 $20,144.94 $172.31 $0.00 $113.90 $20,431.15
92 $20,431.15 $172.31 $0.00 $115.52 $20,718.98
93 $20,718.98 $172.31 $0.00 $117.15 $21,008.44
94 $21,008.44 $172.31 $0.00 $118.78 $21,299.53
95 $21,299.53 $172.31 $0.00 $120.43 $21,592.27
96 $21,592.27 $172.31 $0.00 $122.09 $21,886.67
97 $21,886.67 $172.31 $0.00 $123.75 $22,182.73
98 $22,182.73 $172.31 $0.00 $125.42 $22,480.46
99 $22,480.46 $172.31 $0.00 $127.11 $22,779.88
100 $22,779.88 $172.31 $0.00 $128.80 $23,080.99
101 $23,080.99 $172.31 $0.00 $130.50 $23,383.80
102 $23,383.80 $172.31 $0.00 $132.22 $23,688.33
103 $23,688.33 $172.31 $0.00 $133.94 $23,994.58
104 $23,994.58 $172.31 $0.00 $135.67 $24,302.56
105 $24,302.56 $172.31 $0.00 $137.41 $24,612.28
106 $24,612.28 $172.31 $0.00 $139.16 $24,923.75
107 $24,923.75 $172.31 $0.00 $140.92 $25,236.98
108 $25,236.98 $172.31 $0.00 $142.69 $25,551.98
109 $25,551.98 $172.31 $0.00 $144.47 $25,868.76
110 $25,868.76 $172.31 $0.00 $146.27 $26,187.34
111 $26,187.34 $172.31 $0.00 $148.07 $26,507.72
112 $26,507.72 $172.31 $0.00 $149.88 $26,829.91
113 $26,829.91 $172.31 $0.00 $151.70 $27,153.92
114 $27,153.92 $172.31 $0.00 $153.53 $27,479.76
115 $27,479.76 $172.31 $0.00 $155.37 $27,807.44
116 $27,807.44 $172.31 $0.00 $157.23 $28,136.98
117 $28,136.98 $172.31 $0.00 $159.09 $28,468.38
118 $28,468.38 $172.31 $0.00 $160.96 $28,801.65
119 $28,801.65 $172.31 $0.00 $162.85 $29,136.81
120 $29,136.81 $172.31 $0.00 $164.74 $29,473.86
121 $29,473.86 $172.31 $0.00 $166.65 $29,812.82
122 $29,812.82 $172.31 $0.00 $168.57 $30,153.70
123 $30,153.70 $172.31 $0.00 $170.49 $30,496.50
124 $30,496.50 $172.31 $0.00 $172.43 $30,841.24
125 $30,841.24 $172.31 $0.00 $174.38 $31,187.93
126 $31,187.93 $172.31 $0.00 $176.34 $31,536.58
127 $31,536.58 $172.31 $0.00 $178.31 $31,887.20
128 $31,887.20 $172.31 $0.00 $180.29 $32,239.80
129 $32,239.80 $172.31 $0.00 $182.29 $32,594.40
130 $32,594.40 $172.31 $0.00 $184.29 $32,951.00
131 $32,951.00 $172.31 $0.00 $186.31 $33,309.62
132 $33,309.62 $172.31 $0.00 $188.34 $33,670.27
133 $33,670.27 $172.31 $0.00 $190.38 $34,032.96
134 $34,032.96 $172.31 $0.00 $192.43 $34,397.70
135 $34,397.70 $172.31 $0.00 $194.49 $34,764.50
136 $34,764.50 $172.31 $0.00 $196.56 $35,133.37
137 $35,133.37 $172.31 $0.00 $198.65 $35,504.33
138 $35,504.33 $172.31 $0.00 $200.75 $35,877.39
139 $35,877.39 $172.31 $0.00 $202.86 $36,252.56
140 $36,252.56 $172.31 $0.00 $204.98 $36,629.85
141 $36,629.85 $172.31 $0.00 $207.11 $37,009.27
142 $37,009.27 $172.31 $0.00 $209.26 $37,390.84
143 $37,390.84 $172.31 $0.00 $211.41 $37,774.56
144 $37,774.56 $172.31 $0.00 $213.58 $38,160.45
145 $38,160.45 $172.31 $0.00 $215.76 $38,548.52
146 $38,548.52 $172.31 $0.00 $217.96 $38,938.79
147 $38,938.79 $172.31 $0.00 $220.17 $39,331.27
148 $39,331.27 $172.31 $0.00 $222.38 $39,725.96
149 $39,725.96 $172.31 $0.00 $224.62 $40,122.89
150 $40,122.89 $172.31 $0.00 $226.86 $40,522.06
151 $40,522.06 $172.31 $0.00 $229.12 $40,923.49
152 $40,923.49 $172.31 $0.00 $231.39 $41,327.19
153 $41,327.19 $172.31 $0.00 $233.67 $41,733.17
154 $41,733.17 $172.31 $0.00 $235.97 $42,141.45
155 $42,141.45 $172.31 $0.00 $238.27 $42,552.03
156 $42,552.03 $172.31 $0.00 $240.60 $42,964.94
157 $42,964.94 $172.31 $0.00 $242.93 $43,380.18
158 $43,380.18 $172.31 $0.00 $245.28 $43,797.77
159 $43,797.77 $172.31 $0.00 $247.64 $44,217.72
160 $44,217.72 $172.31 $0.00 $250.01 $44,640.04
161 $44,640.04 $172.31 $0.00 $252.40 $45,064.75
162 $45,064.75 $172.31 $0.00 $254.80 $45,491.86
163 $45,491.86 $172.31 $0.00 $257.22 $45,921.39
164 $45,921.39 $172.31 $0.00 $259.65 $46,353.35
165 $46,353.35 $172.31 $0.00 $262.09 $46,787.75
166 $46,787.75 $172.31 $0.00 $264.54 $47,224.60
167 $47,224.60 $172.31 $0.00 $267.01 $47,663.92
168 $47,663.92 $172.31 $0.00 $269.50 $48,105.73
169 $48,105.73 $172.31 $0.00 $272.00 $48,550.04
170 $48,550.04 $172.31 $0.00 $274.51 $48,996.86
171 $48,996.86 $172.31 $0.00 $277.04 $49,446.21
172 $49,446.21 $172.31 $0.00 $279.58 $49,898.10
173 $49,898.10 $172.31 $0.00 $282.13 $50,352.54
174 $50,352.54 $172.31 $0.00 $284.70 $50,809.55
175 $50,809.55 $172.31 $0.00 $287.28 $51,269.14
176 $51,269.14 $172.31 $0.00 $289.88 $51,731.33
177 $51,731.33 $172.31 $0.00 $292.50 $52,196.14
178 $52,196.14 $172.31 $0.00 $295.12 $52,663.57
179 $52,663.57 $172.31 $0.00 $297.77 $53,133.65
180 $53,133.65 $172.31 $0.00 $300.43 $53,606.39
181 $53,606.39 $172.31 $0.00 $303.10 $54,081.80
182 $54,081.80 $172.31 $0.00 $305.79 $54,559.90
183 $54,559.90 $172.31 $0.00 $308.49 $55,040.70
184 $55,040.70 $172.31 $0.00 $311.21 $55,524.22
185 $55,524.22 $172.31 $0.00 $313.94 $56,010.47
186 $56,010.47 $172.31 $0.00 $316.69 $56,499.47
187 $56,499.47 $172.31 $0.00 $319.46 $56,991.24
188 $56,991.24 $172.31 $0.00 $322.24 $57,485.79
189 $57,485.79 $172.31 $0.00 $325.03 $57,983.13
190 $57,983.13 $172.31 $0.00 $327.85 $58,483.29
191 $58,483.29 $172.31 $0.00 $330.67 $58,986.27
192 $58,986.27 $172.31 $0.00 $333.52 $59,492.10
193 $59,492.10 $172.31 $0.00 $336.38 $60,000.79
194 $60,000.79 $172.31 $0.00 $339.25 $60,512.35
195 $60,512.35 $172.31 $0.00 $342.15 $61,026.81
196 $61,026.81 $172.31 $0.00 $345.05 $61,544.17
197 $61,544.17 $172.31 $0.00 $347.98 $62,064.46
198 $62,064.46 $172.31 $0.00 $350.92 $62,587.69
199 $62,587.69 $172.31 $0.00 $353.88 $63,113.88
200 $63,113.88 $172.31 $0.00 $356.86 $63,643.05
201 $63,643.05 $172.31 $0.00 $359.85 $64,175.21
202 $64,175.21 $172.31 $0.00 $362.86 $64,710.38
203 $64,710.38 $172.31 $0.00 $365.88 $65,248.57
204 $65,248.57 $172.31 $0.00 $368.92 $65,789.80
205 $65,789.80 $172.31 $0.00 $371.99 $66,334.10
206 $66,334.10 $172.31 $0.00 $375.06 $66,881.47
207 $66,881.47 $172.31 $0.00 $378.16 $67,431.94
208 $67,431.94 $172.31 $0.00 $381.27 $67,985.52
209 $67,985.52 $172.31 $0.00 $384.40 $68,542.23
210 $68,542.23 $172.31 $0.00 $387.55 $69,102.09
211 $69,102.09 $172.31 $0.00 $390.71 $69,665.11
212 $69,665.11 $172.31 $0.00 $393.90 $70,231.32
213 $70,231.32 $172.31 $0.00 $397.10 $70,800.73
214 $70,800.73 $172.31 $0.00 $400.32 $71,373.36
215 $71,373.36 $172.31 $0.00 $403.56 $71,949.23
216 $71,949.23 $172.31 $0.00 $406.81 $72,528.35
217 $72,528.35 $172.31 $37,824.83 $410.09 $35,285.92
218 $35,285.92 $172.31 $0.00 $199.51 $35,657.74
219 $35,657.74 $172.31 $0.00 $201.61 $36,031.66
220 $36,031.66 $172.31 $0.00 $203.73 $36,407.70
221 $36,407.70 $172.31 $0.00 $205.85 $36,785.86
222 $36,785.86 $172.31 $0.00 $207.99 $37,166.16
223 $37,166.16 $172.31 $0.00 $210.14 $37,548.61
224 $37,548.61 $172.31 $0.00 $212.31 $37,933.23
225 $37,933.23 $172.31 $0.00 $214.48 $38,320.02
226 $38,320.02 $172.31 $0.00 $216.67 $38,709.00
227 $38,709.00 $172.31 $0.00 $218.87 $39,100.18
228 $39,100.18 $172.31 $0.00 $221.08 $39,493.57
229 $39,493.57 $0.00 $39,716.08 $223.30 $0.79