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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$64,817
Monthly savings required$513

How much will it cost to send your child to Norfolk State University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $259,268.88 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $513.08 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$24,995.00
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 $513.08 $0.00 $0.00 $513.08
2 $513.08 $513.08 $0.00 $2.90 $1,029.06
3 $1,029.06 $513.08 $0.00 $5.82 $1,547.96
4 $1,547.96 $513.08 $0.00 $8.75 $2,069.79
5 $2,069.79 $513.08 $0.00 $11.70 $2,594.57
6 $2,594.57 $513.08 $0.00 $14.67 $3,122.32
7 $3,122.32 $513.08 $0.00 $17.65 $3,653.05
8 $3,653.05 $513.08 $0.00 $20.65 $4,186.78
9 $4,186.78 $513.08 $0.00 $23.67 $4,723.53
10 $4,723.53 $513.08 $0.00 $26.71 $5,263.32
11 $5,263.32 $513.08 $0.00 $29.76 $5,806.16
12 $5,806.16 $513.08 $0.00 $32.83 $6,352.07
13 $6,352.07 $513.08 $0.00 $35.92 $6,901.07
14 $6,901.07 $513.08 $0.00 $39.02 $7,453.17
15 $7,453.17 $513.08 $0.00 $42.14 $8,008.39
16 $8,008.39 $513.08 $0.00 $45.28 $8,566.75
17 $8,566.75 $513.08 $0.00 $48.44 $9,128.27
18 $9,128.27 $513.08 $0.00 $51.61 $9,692.96
19 $9,692.96 $513.08 $0.00 $54.81 $10,260.85
20 $10,260.85 $513.08 $0.00 $58.02 $10,831.95
21 $10,831.95 $513.08 $0.00 $61.25 $11,406.28
22 $11,406.28 $513.08 $0.00 $64.49 $11,983.85
23 $11,983.85 $513.08 $0.00 $67.76 $12,564.69
24 $12,564.69 $513.08 $0.00 $71.04 $13,148.81
25 $13,148.81 $513.08 $0.00 $74.35 $13,736.24
26 $13,736.24 $513.08 $0.00 $77.67 $14,326.99
27 $14,326.99 $513.08 $0.00 $81.01 $14,921.08
28 $14,921.08 $513.08 $0.00 $84.37 $15,518.53
29 $15,518.53 $513.08 $0.00 $87.74 $16,119.35
30 $16,119.35 $513.08 $0.00 $91.14 $16,723.57
31 $16,723.57 $513.08 $0.00 $94.56 $17,331.21
32 $17,331.21 $513.08 $0.00 $97.99 $17,942.28
33 $17,942.28 $513.08 $0.00 $101.45 $18,556.81
34 $18,556.81 $513.08 $0.00 $104.92 $19,174.81
35 $19,174.81 $513.08 $0.00 $108.42 $19,796.31
36 $19,796.31 $513.08 $0.00 $111.93 $20,421.32
37 $20,421.32 $513.08 $0.00 $115.47 $21,049.87
38 $21,049.87 $513.08 $0.00 $119.02 $21,681.97
39 $21,681.97 $513.08 $0.00 $122.59 $22,317.64
40 $22,317.64 $513.08 $0.00 $126.19 $22,956.91
41 $22,956.91 $513.08 $0.00 $129.80 $23,599.79
42 $23,599.79 $513.08 $0.00 $133.44 $24,246.31
43 $24,246.31 $513.08 $0.00 $137.09 $24,896.48
44 $24,896.48 $513.08 $0.00 $140.77 $25,550.33
45 $25,550.33 $513.08 $0.00 $144.47 $26,207.88
46 $26,207.88 $513.08 $0.00 $148.18 $26,869.14
47 $26,869.14 $513.08 $0.00 $151.92 $27,534.14
48 $27,534.14 $513.08 $0.00 $155.68 $28,202.90
49 $28,202.90 $513.08 $0.00 $159.46 $28,875.44
50 $28,875.44 $513.08 $0.00 $163.27 $29,551.79
51 $29,551.79 $513.08 $0.00 $167.09 $30,231.96
52 $30,231.96 $513.08 $0.00 $170.94 $30,915.98
53 $30,915.98 $513.08 $0.00 $174.80 $31,603.86
54 $31,603.86 $513.08 $0.00 $178.69 $32,295.63
55 $32,295.63 $513.08 $0.00 $182.60 $32,991.31
56 $32,991.31 $513.08 $0.00 $186.54 $33,690.93
57 $33,690.93 $513.08 $0.00 $190.49 $34,394.50
58 $34,394.50 $513.08 $0.00 $194.47 $35,102.05
59 $35,102.05 $513.08 $0.00 $198.47 $35,813.60
60 $35,813.60 $513.08 $0.00 $202.50 $36,529.18
61 $36,529.18 $513.08 $0.00 $206.54 $37,248.80
62 $37,248.80 $513.08 $0.00 $210.61 $37,972.49
63 $37,972.49 $513.08 $0.00 $214.70 $38,700.27
64 $38,700.27 $513.08 $0.00 $218.82 $39,432.17
65 $39,432.17 $513.08 $0.00 $222.96 $40,168.21
66 $40,168.21 $513.08 $0.00 $227.12 $40,908.41
67 $40,908.41 $513.08 $0.00 $231.30 $41,652.79
68 $41,652.79 $513.08 $0.00 $235.51 $42,401.38
69 $42,401.38 $513.08 $0.00 $239.74 $43,154.20
70 $43,154.20 $513.08 $0.00 $244.00 $43,911.28
71 $43,911.28 $513.08 $0.00 $248.28 $44,672.64
72 $44,672.64 $513.08 $0.00 $252.59 $45,438.31
73 $45,438.31 $513.08 $0.00 $256.91 $46,208.30
74 $46,208.30 $513.08 $0.00 $261.27 $46,982.65
75 $46,982.65 $513.08 $0.00 $265.65 $47,761.38
76 $47,761.38 $513.08 $0.00 $270.05 $48,544.51
77 $48,544.51 $513.08 $0.00 $274.48 $49,332.07
78 $49,332.07 $513.08 $0.00 $278.93 $50,124.08
79 $50,124.08 $513.08 $0.00 $283.41 $50,920.57
80 $50,920.57 $513.08 $0.00 $287.91 $51,721.56
81 $51,721.56 $513.08 $0.00 $292.44 $52,527.08
82 $52,527.08 $513.08 $0.00 $297.00 $53,337.16
83 $53,337.16 $513.08 $0.00 $301.58 $54,151.82
84 $54,151.82 $513.08 $0.00 $306.18 $54,971.08
85 $54,971.08 $513.08 $0.00 $310.81 $55,794.97
86 $55,794.97 $513.08 $0.00 $315.47 $56,623.52
87 $56,623.52 $513.08 $0.00 $320.16 $57,456.76
88 $57,456.76 $513.08 $0.00 $324.87 $58,294.71
89 $58,294.71 $513.08 $0.00 $329.61 $59,137.40
90 $59,137.40 $513.08 $0.00 $334.37 $59,984.85
91 $59,984.85 $513.08 $0.00 $339.16 $60,837.09
92 $60,837.09 $513.08 $0.00 $343.98 $61,694.15
93 $61,694.15 $513.08 $0.00 $348.83 $62,556.06
94 $62,556.06 $513.08 $0.00 $353.70 $63,422.84
95 $63,422.84 $513.08 $0.00 $358.60 $64,294.52
96 $64,294.52 $513.08 $0.00 $363.53 $65,171.13
97 $65,171.13 $513.08 $0.00 $368.49 $66,052.70
98 $66,052.70 $513.08 $0.00 $373.47 $66,939.25
99 $66,939.25 $513.08 $0.00 $378.48 $67,830.81
100 $67,830.81 $513.08 $0.00 $383.53 $68,727.42
101 $68,727.42 $513.08 $0.00 $388.59 $69,629.09
102 $69,629.09 $513.08 $0.00 $393.69 $70,535.86
103 $70,535.86 $513.08 $0.00 $398.82 $71,447.76
104 $71,447.76 $513.08 $0.00 $403.98 $72,364.82
105 $72,364.82 $513.08 $0.00 $409.16 $73,287.06
106 $73,287.06 $513.08 $0.00 $414.38 $74,214.52
107 $74,214.52 $513.08 $0.00 $419.62 $75,147.22
108 $75,147.22 $513.08 $0.00 $424.89 $76,085.19
109 $76,085.19 $513.08 $0.00 $430.20 $77,028.47
110 $77,028.47 $513.08 $0.00 $435.53 $77,977.08
111 $77,977.08 $513.08 $0.00 $440.89 $78,931.05
112 $78,931.05 $513.08 $0.00 $446.29 $79,890.42
113 $79,890.42 $513.08 $0.00 $451.71 $80,855.21
114 $80,855.21 $513.08 $0.00 $457.17 $81,825.46
115 $81,825.46 $513.08 $0.00 $462.65 $82,801.19
116 $82,801.19 $513.08 $0.00 $468.17 $83,782.44
117 $83,782.44 $513.08 $0.00 $473.72 $84,769.24
118 $84,769.24 $513.08 $0.00 $479.30 $85,761.62
119 $85,761.62 $513.08 $0.00 $484.91 $86,759.61
120 $86,759.61 $513.08 $0.00 $490.55 $87,763.24
121 $87,763.24 $513.08 $0.00 $496.23 $88,772.55
122 $88,772.55 $513.08 $0.00 $501.93 $89,787.56
123 $89,787.56 $513.08 $0.00 $507.67 $90,808.31
124 $90,808.31 $513.08 $0.00 $513.44 $91,834.83
125 $91,834.83 $513.08 $0.00 $519.25 $92,867.16
126 $92,867.16 $513.08 $0.00 $525.08 $93,905.32
127 $93,905.32 $513.08 $0.00 $530.95 $94,949.35
128 $94,949.35 $513.08 $0.00 $536.86 $95,999.29
129 $95,999.29 $513.08 $0.00 $542.79 $97,055.16
130 $97,055.16 $513.08 $0.00 $548.76 $98,117.00
131 $98,117.00 $513.08 $0.00 $554.77 $99,184.85
132 $99,184.85 $513.08 $0.00 $560.81 $100,258.74
133 $100,258.74 $513.08 $0.00 $566.88 $101,338.70
134 $101,338.70 $513.08 $0.00 $572.98 $102,424.76
135 $102,424.76 $513.08 $0.00 $579.12 $103,516.96
136 $103,516.96 $513.08 $0.00 $585.30 $104,615.34
137 $104,615.34 $513.08 $0.00 $591.51 $105,719.93
138 $105,719.93 $513.08 $0.00 $597.76 $106,830.77
139 $106,830.77 $513.08 $0.00 $604.04 $107,947.89
140 $107,947.89 $513.08 $0.00 $610.35 $109,071.32
141 $109,071.32 $513.08 $0.00 $616.71 $110,201.11
142 $110,201.11 $513.08 $0.00 $623.09 $111,337.28
143 $111,337.28 $513.08 $0.00 $629.52 $112,479.88
144 $112,479.88 $513.08 $0.00 $635.98 $113,628.94
145 $113,628.94 $513.08 $0.00 $642.47 $114,784.49
146 $114,784.49 $513.08 $0.00 $649.01 $115,946.58
147 $115,946.58 $513.08 $0.00 $655.58 $117,115.24
148 $117,115.24 $513.08 $0.00 $662.19 $118,290.51
149 $118,290.51 $513.08 $0.00 $668.83 $119,472.42
150 $119,472.42 $513.08 $0.00 $675.51 $120,661.01
151 $120,661.01 $513.08 $0.00 $682.23 $121,856.32
152 $121,856.32 $513.08 $0.00 $688.99 $123,058.39
153 $123,058.39 $513.08 $0.00 $695.79 $124,267.26
154 $124,267.26 $513.08 $0.00 $702.63 $125,482.97
155 $125,482.97 $513.08 $0.00 $709.50 $126,705.55
156 $126,705.55 $513.08 $0.00 $716.41 $127,935.04
157 $127,935.04 $513.08 $0.00 $723.36 $129,171.48
158 $129,171.48 $513.08 $0.00 $730.35 $130,414.91
159 $130,414.91 $513.08 $0.00 $737.38 $131,665.37
160 $131,665.37 $513.08 $0.00 $744.46 $132,922.91
161 $132,922.91 $513.08 $0.00 $751.57 $134,187.56
162 $134,187.56 $513.08 $0.00 $758.72 $135,459.36
163 $135,459.36 $513.08 $0.00 $765.91 $136,738.35
164 $136,738.35 $513.08 $0.00 $773.14 $138,024.57
165 $138,024.57 $513.08 $0.00 $780.41 $139,318.06
166 $139,318.06 $513.08 $0.00 $787.72 $140,618.86
167 $140,618.86 $513.08 $0.00 $795.08 $141,927.02
168 $141,927.02 $513.08 $0.00 $802.48 $143,242.58
169 $143,242.58 $513.08 $0.00 $809.91 $144,565.57
170 $144,565.57 $513.08 $0.00 $817.39 $145,896.04
171 $145,896.04 $513.08 $0.00 $824.92 $147,234.04
172 $147,234.04 $513.08 $0.00 $832.48 $148,579.60
173 $148,579.60 $513.08 $0.00 $840.09 $149,932.77
174 $149,932.77 $513.08 $0.00 $847.74 $151,293.59
175 $151,293.59 $513.08 $0.00 $855.44 $152,662.11
176 $152,662.11 $513.08 $0.00 $863.17 $154,038.36
177 $154,038.36 $513.08 $0.00 $870.96 $155,422.40
178 $155,422.40 $513.08 $0.00 $878.78 $156,814.26
179 $156,814.26 $513.08 $0.00 $886.65 $158,213.99
180 $158,213.99 $513.08 $0.00 $894.56 $159,621.63
181 $159,621.63 $513.08 $0.00 $902.52 $161,037.23
182 $161,037.23 $513.08 $0.00 $910.53 $162,460.84
183 $162,460.84 $513.08 $0.00 $918.58 $163,892.50
184 $163,892.50 $513.08 $0.00 $926.67 $165,332.25
185 $165,332.25 $513.08 $0.00 $934.81 $166,780.14
186 $166,780.14 $513.08 $0.00 $943.00 $168,236.22
187 $168,236.22 $513.08 $0.00 $951.23 $169,700.53
188 $169,700.53 $513.08 $0.00 $959.51 $171,173.12
189 $171,173.12 $513.08 $0.00 $967.84 $172,654.04
190 $172,654.04 $513.08 $0.00 $976.21 $174,143.33
191 $174,143.33 $513.08 $0.00 $984.63 $175,641.04
192 $175,641.04 $513.08 $0.00 $993.10 $177,147.22
193 $177,147.22 $513.08 $0.00 $1,001.62 $178,661.92
194 $178,661.92 $513.08 $0.00 $1,010.18 $180,185.18
195 $180,185.18 $513.08 $0.00 $1,018.79 $181,717.05
196 $181,717.05 $513.08 $0.00 $1,027.45 $183,257.58
197 $183,257.58 $513.08 $0.00 $1,036.17 $184,806.83
198 $184,806.83 $513.08 $0.00 $1,044.92 $186,364.83
199 $186,364.83 $513.08 $0.00 $1,053.73 $187,931.64
200 $187,931.64 $513.08 $0.00 $1,062.59 $189,507.31
201 $189,507.31 $513.08 $0.00 $1,071.50 $191,091.89
202 $191,091.89 $513.08 $0.00 $1,080.46 $192,685.43
203 $192,685.43 $513.08 $0.00 $1,089.47 $194,287.98
204 $194,287.98 $513.08 $0.00 $1,098.53 $195,899.59
205 $195,899.59 $513.08 $0.00 $1,107.64 $197,520.31
206 $197,520.31 $513.08 $0.00 $1,116.81 $199,150.20
207 $199,150.20 $513.08 $0.00 $1,126.02 $200,789.30
208 $200,789.30 $513.08 $0.00 $1,135.29 $202,437.67
209 $202,437.67 $513.08 $0.00 $1,144.61 $204,095.36
210 $204,095.36 $513.08 $0.00 $1,153.98 $205,762.42
211 $205,762.42 $513.08 $0.00 $1,163.41 $207,438.91
212 $207,438.91 $513.08 $0.00 $1,172.89 $209,124.88
213 $209,124.88 $513.08 $0.00 $1,182.42 $210,820.38
214 $210,820.38 $513.08 $0.00 $1,192.01 $212,525.47
215 $212,525.47 $513.08 $0.00 $1,201.65 $214,240.20
216 $214,240.20 $513.08 $0.00 $1,211.35 $215,964.63
217 $215,964.63 $513.08 $60,153.45 $1,221.10 $157,545.36
218 $157,545.36 $513.08 $0.00 $890.78 $158,949.22
219 $158,949.22 $513.08 $0.00 $898.72 $160,361.02
220 $160,361.02 $513.08 $0.00 $906.70 $161,780.80
221 $161,780.80 $513.08 $0.00 $914.73 $163,208.61
222 $163,208.61 $513.08 $0.00 $922.81 $164,644.50
223 $164,644.50 $513.08 $0.00 $930.92 $166,088.50
224 $166,088.50 $513.08 $0.00 $939.09 $167,540.67
225 $167,540.67 $513.08 $0.00 $947.30 $169,001.05
226 $169,001.05 $513.08 $0.00 $955.56 $170,469.69
227 $170,469.69 $513.08 $0.00 $963.86 $171,946.63
228 $171,946.63 $513.08 $0.00 $972.21 $173,431.92
229 $173,431.92 $513.08 $63,161.12 $980.61 $111,764.49
230 $111,764.49 $513.08 $0.00 $631.93 $112,909.50
231 $112,909.50 $513.08 $0.00 $638.41 $114,060.99
232 $114,060.99 $513.08 $0.00 $644.92 $115,218.99
233 $115,218.99 $513.08 $0.00 $651.46 $116,383.53
234 $116,383.53 $513.08 $0.00 $658.05 $117,554.66
235 $117,554.66 $513.08 $0.00 $664.67 $118,732.41
236 $118,732.41 $513.08 $0.00 $671.33 $119,916.82
237 $119,916.82 $513.08 $0.00 $678.03 $121,107.93
238 $121,107.93 $513.08 $0.00 $684.76 $122,305.77
239 $122,305.77 $513.08 $0.00 $691.53 $123,510.38
240 $123,510.38 $513.08 $0.00 $698.35 $124,721.81
241 $124,721.81 $513.08 $66,319.18 $705.20 $59,620.91
242 $59,620.91 $513.08 $0.00 $337.11 $60,471.10
243 $60,471.10 $513.08 $0.00 $341.91 $61,326.09
244 $61,326.09 $513.08 $0.00 $346.75 $62,185.92
245 $62,185.92 $513.08 $0.00 $351.61 $63,050.61
246 $63,050.61 $513.08 $0.00 $356.50 $63,920.19
247 $63,920.19 $513.08 $0.00 $361.41 $64,794.68
248 $64,794.68 $513.08 $0.00 $366.36 $65,674.12
249 $65,674.12 $513.08 $0.00 $371.33 $66,558.53
250 $66,558.53 $513.08 $0.00 $376.33 $67,447.94
251 $67,447.94 $513.08 $0.00 $381.36 $68,342.38
252 $68,342.38 $513.08 $0.00 $386.42 $69,241.88
253 $69,241.88 $0.00 $69,635.13 $391.50 ($1.75)