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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$54,812
Monthly savings required$244

How much will it cost to send your child to Northern Virginia Community College in 18 years and how much do you need to save?  A 2 year degree is estimated to be priced at $109,623.91 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $243.60 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$22,220.00
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 $243.60 $0.00 $0.00 $243.60
2 $243.60 $243.60 $0.00 $1.38 $488.58
3 $488.58 $243.60 $0.00 $2.76 $734.94
4 $734.94 $243.60 $0.00 $4.16 $982.70
5 $982.70 $243.60 $0.00 $5.56 $1,231.86
6 $1,231.86 $243.60 $0.00 $6.97 $1,482.43
7 $1,482.43 $243.60 $0.00 $8.38 $1,734.41
8 $1,734.41 $243.60 $0.00 $9.81 $1,987.82
9 $1,987.82 $243.60 $0.00 $11.24 $2,242.66
10 $2,242.66 $243.60 $0.00 $12.68 $2,498.94
11 $2,498.94 $243.60 $0.00 $14.13 $2,756.67
12 $2,756.67 $243.60 $0.00 $15.59 $3,015.86
13 $3,015.86 $243.60 $0.00 $17.05 $3,276.51
14 $3,276.51 $243.60 $0.00 $18.53 $3,538.64
15 $3,538.64 $243.60 $0.00 $20.01 $3,802.25
16 $3,802.25 $243.60 $0.00 $21.50 $4,067.35
17 $4,067.35 $243.60 $0.00 $23.00 $4,333.95
18 $4,333.95 $243.60 $0.00 $24.50 $4,602.05
19 $4,602.05 $243.60 $0.00 $26.02 $4,871.67
20 $4,871.67 $243.60 $0.00 $27.55 $5,142.82
21 $5,142.82 $243.60 $0.00 $29.08 $5,415.50
22 $5,415.50 $243.60 $0.00 $30.62 $5,689.72
23 $5,689.72 $243.60 $0.00 $32.17 $5,965.49
24 $5,965.49 $243.60 $0.00 $33.73 $6,242.82
25 $6,242.82 $243.60 $0.00 $35.30 $6,521.72
26 $6,521.72 $243.60 $0.00 $36.87 $6,802.19
27 $6,802.19 $243.60 $0.00 $38.46 $7,084.25
28 $7,084.25 $243.60 $0.00 $40.06 $7,367.91
29 $7,367.91 $243.60 $0.00 $41.66 $7,653.17
30 $7,653.17 $243.60 $0.00 $43.27 $7,940.04
31 $7,940.04 $243.60 $0.00 $44.89 $8,228.53
32 $8,228.53 $243.60 $0.00 $46.53 $8,518.66
33 $8,518.66 $243.60 $0.00 $48.17 $8,810.43
34 $8,810.43 $243.60 $0.00 $49.82 $9,103.85
35 $9,103.85 $243.60 $0.00 $51.47 $9,398.92
36 $9,398.92 $243.60 $0.00 $53.14 $9,695.66
37 $9,695.66 $243.60 $0.00 $54.82 $9,994.08
38 $9,994.08 $243.60 $0.00 $56.51 $10,294.19
39 $10,294.19 $243.60 $0.00 $58.20 $10,595.99
40 $10,595.99 $243.60 $0.00 $59.91 $10,899.50
41 $10,899.50 $243.60 $0.00 $61.63 $11,204.73
42 $11,204.73 $243.60 $0.00 $63.35 $11,511.68
43 $11,511.68 $243.60 $0.00 $65.09 $11,820.37
44 $11,820.37 $243.60 $0.00 $66.83 $12,130.80
45 $12,130.80 $243.60 $0.00 $68.59 $12,442.99
46 $12,442.99 $243.60 $0.00 $70.35 $12,756.94
47 $12,756.94 $243.60 $0.00 $72.13 $13,072.67
48 $13,072.67 $243.60 $0.00 $73.91 $13,390.18
49 $13,390.18 $243.60 $0.00 $75.71 $13,709.49
50 $13,709.49 $243.60 $0.00 $77.52 $14,030.61
51 $14,030.61 $243.60 $0.00 $79.33 $14,353.54
52 $14,353.54 $243.60 $0.00 $81.16 $14,678.30
53 $14,678.30 $243.60 $0.00 $82.99 $15,004.89
54 $15,004.89 $243.60 $0.00 $84.84 $15,333.33
55 $15,333.33 $243.60 $0.00 $86.70 $15,663.63
56 $15,663.63 $243.60 $0.00 $88.56 $15,995.79
57 $15,995.79 $243.60 $0.00 $90.44 $16,329.83
58 $16,329.83 $243.60 $0.00 $92.33 $16,665.76
59 $16,665.76 $243.60 $0.00 $94.23 $17,003.59
60 $17,003.59 $243.60 $0.00 $96.14 $17,343.33
61 $17,343.33 $243.60 $0.00 $98.06 $17,684.99
62 $17,684.99 $243.60 $0.00 $99.99 $18,028.58
63 $18,028.58 $243.60 $0.00 $101.94 $18,374.12
64 $18,374.12 $243.60 $0.00 $103.89 $18,721.61
65 $18,721.61 $243.60 $0.00 $105.85 $19,071.06
66 $19,071.06 $243.60 $0.00 $107.83 $19,422.49
67 $19,422.49 $243.60 $0.00 $109.82 $19,775.91
68 $19,775.91 $243.60 $0.00 $111.82 $20,131.33
69 $20,131.33 $243.60 $0.00 $113.83 $20,488.76
70 $20,488.76 $243.60 $0.00 $115.85 $20,848.21
71 $20,848.21 $243.60 $0.00 $117.88 $21,209.69
72 $21,209.69 $243.60 $0.00 $119.92 $21,573.21
73 $21,573.21 $243.60 $0.00 $121.98 $21,938.79
74 $21,938.79 $243.60 $0.00 $124.05 $22,306.44
75 $22,306.44 $243.60 $0.00 $126.12 $22,676.16
76 $22,676.16 $243.60 $0.00 $128.21 $23,047.97
77 $23,047.97 $243.60 $0.00 $130.32 $23,421.89
78 $23,421.89 $243.60 $0.00 $132.43 $23,797.92
79 $23,797.92 $243.60 $0.00 $134.56 $24,176.08
80 $24,176.08 $243.60 $0.00 $136.70 $24,556.38
81 $24,556.38 $243.60 $0.00 $138.85 $24,938.83
82 $24,938.83 $243.60 $0.00 $141.01 $25,323.44
83 $25,323.44 $243.60 $0.00 $143.18 $25,710.22
84 $25,710.22 $243.60 $0.00 $145.37 $26,099.19
85 $26,099.19 $243.60 $0.00 $147.57 $26,490.36
86 $26,490.36 $243.60 $0.00 $149.78 $26,883.74
87 $26,883.74 $243.60 $0.00 $152.00 $27,279.34
88 $27,279.34 $243.60 $0.00 $154.24 $27,677.18
89 $27,677.18 $243.60 $0.00 $156.49 $28,077.27
90 $28,077.27 $243.60 $0.00 $158.75 $28,479.62
91 $28,479.62 $243.60 $0.00 $161.03 $28,884.25
92 $28,884.25 $243.60 $0.00 $163.32 $29,291.17
93 $29,291.17 $243.60 $0.00 $165.62 $29,700.39
94 $29,700.39 $243.60 $0.00 $167.93 $30,111.92
95 $30,111.92 $243.60 $0.00 $170.26 $30,525.78
96 $30,525.78 $243.60 $0.00 $172.60 $30,941.98
97 $30,941.98 $243.60 $0.00 $174.95 $31,360.53
98 $31,360.53 $243.60 $0.00 $177.32 $31,781.45
99 $31,781.45 $243.60 $0.00 $179.70 $32,204.75
100 $32,204.75 $243.60 $0.00 $182.09 $32,630.44
101 $32,630.44 $243.60 $0.00 $184.50 $33,058.54
102 $33,058.54 $243.60 $0.00 $186.92 $33,489.06
103 $33,489.06 $243.60 $0.00 $189.35 $33,922.01
104 $33,922.01 $243.60 $0.00 $191.80 $34,357.41
105 $34,357.41 $243.60 $0.00 $194.26 $34,795.27
106 $34,795.27 $243.60 $0.00 $196.74 $35,235.61
107 $35,235.61 $243.60 $0.00 $199.23 $35,678.44
108 $35,678.44 $243.60 $0.00 $201.73 $36,123.77
109 $36,123.77 $243.60 $0.00 $204.25 $36,571.62
110 $36,571.62 $243.60 $0.00 $206.78 $37,022.00
111 $37,022.00 $243.60 $0.00 $209.33 $37,474.93
112 $37,474.93 $243.60 $0.00 $211.89 $37,930.42
113 $37,930.42 $243.60 $0.00 $214.46 $38,388.48
114 $38,388.48 $243.60 $0.00 $217.05 $38,849.13
115 $38,849.13 $243.60 $0.00 $219.66 $39,312.39
116 $39,312.39 $243.60 $0.00 $222.28 $39,778.27
117 $39,778.27 $243.60 $0.00 $224.91 $40,246.78
118 $40,246.78 $243.60 $0.00 $227.56 $40,717.94
119 $40,717.94 $243.60 $0.00 $230.23 $41,191.77
120 $41,191.77 $243.60 $0.00 $232.90 $41,668.27
121 $41,668.27 $243.60 $0.00 $235.60 $42,147.47
122 $42,147.47 $243.60 $0.00 $238.31 $42,629.38
123 $42,629.38 $243.60 $0.00 $241.03 $43,114.01
124 $43,114.01 $243.60 $0.00 $243.77 $43,601.38
125 $43,601.38 $243.60 $0.00 $246.53 $44,091.51
126 $44,091.51 $243.60 $0.00 $249.30 $44,584.41
127 $44,584.41 $243.60 $0.00 $252.09 $45,080.10
128 $45,080.10 $243.60 $0.00 $254.89 $45,578.59
129 $45,578.59 $243.60 $0.00 $257.71 $46,079.90
130 $46,079.90 $243.60 $0.00 $260.54 $46,584.04
131 $46,584.04 $243.60 $0.00 $263.39 $47,091.03
132 $47,091.03 $243.60 $0.00 $266.26 $47,600.89
133 $47,600.89 $243.60 $0.00 $269.14 $48,113.63
134 $48,113.63 $243.60 $0.00 $272.04 $48,629.27
135 $48,629.27 $243.60 $0.00 $274.96 $49,147.83
136 $49,147.83 $243.60 $0.00 $277.89 $49,669.32
137 $49,669.32 $243.60 $0.00 $280.84 $50,193.76
138 $50,193.76 $243.60 $0.00 $283.80 $50,721.16
139 $50,721.16 $243.60 $0.00 $286.78 $51,251.54
140 $51,251.54 $243.60 $0.00 $289.78 $51,784.92
141 $51,784.92 $243.60 $0.00 $292.80 $52,321.32
142 $52,321.32 $243.60 $0.00 $295.83 $52,860.75
143 $52,860.75 $243.60 $0.00 $298.88 $53,403.23
144 $53,403.23 $243.60 $0.00 $301.95 $53,948.78
145 $53,948.78 $243.60 $0.00 $305.03 $54,497.41
146 $54,497.41 $243.60 $0.00 $308.14 $55,049.15
147 $55,049.15 $243.60 $0.00 $311.26 $55,604.01
148 $55,604.01 $243.60 $0.00 $314.39 $56,162.00
149 $56,162.00 $243.60 $0.00 $317.55 $56,723.15
150 $56,723.15 $243.60 $0.00 $320.72 $57,287.47
151 $57,287.47 $243.60 $0.00 $323.91 $57,854.98
152 $57,854.98 $243.60 $0.00 $327.12 $58,425.70
153 $58,425.70 $243.60 $0.00 $330.35 $58,999.65
154 $58,999.65 $243.60 $0.00 $333.59 $59,576.84
155 $59,576.84 $243.60 $0.00 $336.86 $60,157.30
156 $60,157.30 $243.60 $0.00 $340.14 $60,741.04
157 $60,741.04 $243.60 $0.00 $343.44 $61,328.08
158 $61,328.08 $243.60 $0.00 $346.76 $61,918.44
159 $61,918.44 $243.60 $0.00 $350.10 $62,512.14
160 $62,512.14 $243.60 $0.00 $353.45 $63,109.19
161 $63,109.19 $243.60 $0.00 $356.83 $63,709.62
162 $63,709.62 $243.60 $0.00 $360.22 $64,313.44
163 $64,313.44 $243.60 $0.00 $363.64 $64,920.68
164 $64,920.68 $243.60 $0.00 $367.07 $65,531.35
165 $65,531.35 $243.60 $0.00 $370.52 $66,145.47
166 $66,145.47 $243.60 $0.00 $374.00 $66,763.07
167 $66,763.07 $243.60 $0.00 $377.49 $67,384.16
168 $67,384.16 $243.60 $0.00 $381.00 $68,008.76
169 $68,008.76 $243.60 $0.00 $384.53 $68,636.89
170 $68,636.89 $243.60 $0.00 $388.08 $69,268.57
171 $69,268.57 $243.60 $0.00 $391.65 $69,903.82
172 $69,903.82 $243.60 $0.00 $395.25 $70,542.67
173 $70,542.67 $243.60 $0.00 $398.86 $71,185.13
174 $71,185.13 $243.60 $0.00 $402.49 $71,831.22
175 $71,831.22 $243.60 $0.00 $406.14 $72,480.96
176 $72,480.96 $243.60 $0.00 $409.82 $73,134.38
177 $73,134.38 $243.60 $0.00 $413.51 $73,791.49
178 $73,791.49 $243.60 $0.00 $417.23 $74,452.32
179 $74,452.32 $243.60 $0.00 $420.96 $75,116.88
180 $75,116.88 $243.60 $0.00 $424.72 $75,785.20
181 $75,785.20 $243.60 $0.00 $428.50 $76,457.30
182 $76,457.30 $243.60 $0.00 $432.30 $77,133.20
183 $77,133.20 $243.60 $0.00 $436.12 $77,812.92
184 $77,812.92 $243.60 $0.00 $439.97 $78,496.49
185 $78,496.49 $243.60 $0.00 $443.83 $79,183.92
186 $79,183.92 $243.60 $0.00 $447.72 $79,875.24
187 $79,875.24 $243.60 $0.00 $451.63 $80,570.47
188 $80,570.47 $243.60 $0.00 $455.56 $81,269.63
189 $81,269.63 $243.60 $0.00 $459.51 $81,972.74
190 $81,972.74 $243.60 $0.00 $463.49 $82,679.83
191 $82,679.83 $243.60 $0.00 $467.48 $83,390.91
192 $83,390.91 $243.60 $0.00 $471.50 $84,106.01
193 $84,106.01 $243.60 $0.00 $475.55 $84,825.16
194 $84,825.16 $243.60 $0.00 $479.61 $85,548.37
195 $85,548.37 $243.60 $0.00 $483.70 $86,275.67
196 $86,275.67 $243.60 $0.00 $487.82 $87,007.09
197 $87,007.09 $243.60 $0.00 $491.95 $87,742.64
198 $87,742.64 $243.60 $0.00 $496.11 $88,482.35
199 $88,482.35 $243.60 $0.00 $500.29 $89,226.24
200 $89,226.24 $243.60 $0.00 $504.50 $89,974.34
201 $89,974.34 $243.60 $0.00 $508.73 $90,726.67
202 $90,726.67 $243.60 $0.00 $512.98 $91,483.25
203 $91,483.25 $243.60 $0.00 $517.26 $92,244.11
204 $92,244.11 $243.60 $0.00 $521.56 $93,009.27
205 $93,009.27 $243.60 $0.00 $525.89 $93,778.76
206 $93,778.76 $243.60 $0.00 $530.24 $94,552.60
207 $94,552.60 $243.60 $0.00 $534.61 $95,330.81
208 $95,330.81 $243.60 $0.00 $539.01 $96,113.42
209 $96,113.42 $243.60 $0.00 $543.44 $96,900.46
210 $96,900.46 $243.60 $0.00 $547.89 $97,691.95
211 $97,691.95 $243.60 $0.00 $552.36 $98,487.91
212 $98,487.91 $243.60 $0.00 $556.86 $99,288.37
213 $99,288.37 $243.60 $0.00 $561.39 $100,093.36
214 $100,093.36 $243.60 $0.00 $565.94 $100,902.90
215 $100,902.90 $243.60 $0.00 $570.52 $101,717.02
216 $101,717.02 $243.60 $0.00 $575.12 $102,535.74
217 $102,535.74 $243.60 $53,475.08 $579.75 $49,884.01
218 $49,884.01 $243.60 $0.00 $282.05 $50,409.66
219 $50,409.66 $243.60 $0.00 $285.02 $50,938.28
220 $50,938.28 $243.60 $0.00 $288.01 $51,469.89
221 $51,469.89 $243.60 $0.00 $291.02 $52,004.51
222 $52,004.51 $243.60 $0.00 $294.04 $52,542.15
223 $52,542.15 $243.60 $0.00 $297.08 $53,082.83
224 $53,082.83 $243.60 $0.00 $300.14 $53,626.57
225 $53,626.57 $243.60 $0.00 $303.21 $54,173.38
226 $54,173.38 $243.60 $0.00 $306.30 $54,723.28
227 $54,723.28 $243.60 $0.00 $309.41 $55,276.29
228 $55,276.29 $243.60 $0.00 $312.54 $55,832.43
229 $55,832.43 $0.00 $56,148.83 $315.68 ($0.72)