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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$68,606
Monthly savings required$543

How much will it cost to send your child to Old Dominion University in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $274,423.58 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $543.07 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$26,456.00
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 $543.07 $0.00 $0.00 $543.07
2 $543.07 $543.07 $0.00 $3.07 $1,089.21
3 $1,089.21 $543.07 $0.00 $6.16 $1,638.44
4 $1,638.44 $543.07 $0.00 $9.26 $2,190.77
5 $2,190.77 $543.07 $0.00 $12.39 $2,746.23
6 $2,746.23 $543.07 $0.00 $15.53 $3,304.83
7 $3,304.83 $543.07 $0.00 $18.69 $3,866.59
8 $3,866.59 $543.07 $0.00 $21.86 $4,431.52
9 $4,431.52 $543.07 $0.00 $25.06 $4,999.65
10 $4,999.65 $543.07 $0.00 $28.27 $5,570.99
11 $5,570.99 $543.07 $0.00 $31.50 $6,145.56
12 $6,145.56 $543.07 $0.00 $34.75 $6,723.38
13 $6,723.38 $543.07 $0.00 $38.01 $7,304.46
14 $7,304.46 $543.07 $0.00 $41.30 $7,888.83
15 $7,888.83 $543.07 $0.00 $44.60 $8,476.50
16 $8,476.50 $543.07 $0.00 $47.93 $9,067.50
17 $9,067.50 $543.07 $0.00 $51.27 $9,661.84
18 $9,661.84 $543.07 $0.00 $54.63 $10,259.54
19 $10,259.54 $543.07 $0.00 $58.01 $10,860.62
20 $10,860.62 $543.07 $0.00 $61.41 $11,465.10
21 $11,465.10 $543.07 $0.00 $64.83 $12,073.00
22 $12,073.00 $543.07 $0.00 $68.26 $12,684.33
23 $12,684.33 $543.07 $0.00 $71.72 $13,299.12
24 $13,299.12 $543.07 $0.00 $75.20 $13,917.39
25 $13,917.39 $543.07 $0.00 $78.69 $14,539.15
26 $14,539.15 $543.07 $0.00 $82.21 $15,164.43
27 $15,164.43 $543.07 $0.00 $85.74 $15,793.24
28 $15,793.24 $543.07 $0.00 $89.30 $16,425.61
29 $16,425.61 $543.07 $0.00 $92.87 $17,061.55
30 $17,061.55 $543.07 $0.00 $96.47 $17,701.09
31 $17,701.09 $543.07 $0.00 $100.08 $18,344.24
32 $18,344.24 $543.07 $0.00 $103.72 $18,991.03
33 $18,991.03 $543.07 $0.00 $107.38 $19,641.48
34 $19,641.48 $543.07 $0.00 $111.06 $20,295.61
35 $20,295.61 $543.07 $0.00 $114.75 $20,953.43
36 $20,953.43 $543.07 $0.00 $118.47 $21,614.97
37 $21,614.97 $543.07 $0.00 $122.21 $22,280.25
38 $22,280.25 $543.07 $0.00 $125.98 $22,949.30
39 $22,949.30 $543.07 $0.00 $129.76 $23,622.13
40 $23,622.13 $543.07 $0.00 $133.56 $24,298.76
41 $24,298.76 $543.07 $0.00 $137.39 $24,979.22
42 $24,979.22 $543.07 $0.00 $141.24 $25,663.53
43 $25,663.53 $543.07 $0.00 $145.11 $26,351.71
44 $26,351.71 $543.07 $0.00 $149.00 $27,043.78
45 $27,043.78 $543.07 $0.00 $152.91 $27,739.76
46 $27,739.76 $543.07 $0.00 $156.84 $28,439.67
47 $28,439.67 $543.07 $0.00 $160.80 $29,143.54
48 $29,143.54 $543.07 $0.00 $164.78 $29,851.39
49 $29,851.39 $543.07 $0.00 $168.78 $30,563.24
50 $30,563.24 $543.07 $0.00 $172.81 $31,279.12
51 $31,279.12 $543.07 $0.00 $176.86 $31,999.05
52 $31,999.05 $543.07 $0.00 $180.93 $32,723.05
53 $32,723.05 $543.07 $0.00 $185.02 $33,451.14
54 $33,451.14 $543.07 $0.00 $189.14 $34,183.35
55 $34,183.35 $543.07 $0.00 $193.28 $34,919.70
56 $34,919.70 $543.07 $0.00 $197.44 $35,660.21
57 $35,660.21 $543.07 $0.00 $201.63 $36,404.91
58 $36,404.91 $543.07 $0.00 $205.84 $37,153.82
59 $37,153.82 $543.07 $0.00 $210.07 $37,906.96
60 $37,906.96 $543.07 $0.00 $214.33 $38,664.36
61 $38,664.36 $543.07 $0.00 $218.61 $39,426.04
62 $39,426.04 $543.07 $0.00 $222.92 $40,192.03
63 $40,192.03 $543.07 $0.00 $227.25 $40,962.35
64 $40,962.35 $543.07 $0.00 $231.61 $41,737.03
65 $41,737.03 $543.07 $0.00 $235.99 $42,516.09
66 $42,516.09 $543.07 $0.00 $240.39 $43,299.55
67 $43,299.55 $543.07 $0.00 $244.82 $44,087.44
68 $44,087.44 $543.07 $0.00 $249.28 $44,879.79
69 $44,879.79 $543.07 $0.00 $253.76 $45,676.62
70 $45,676.62 $543.07 $0.00 $258.26 $46,477.95
71 $46,477.95 $543.07 $0.00 $262.79 $47,283.81
72 $47,283.81 $543.07 $0.00 $267.35 $48,094.23
73 $48,094.23 $543.07 $0.00 $271.93 $48,909.23
74 $48,909.23 $543.07 $0.00 $276.54 $49,728.84
75 $49,728.84 $543.07 $0.00 $281.17 $50,553.08
76 $50,553.08 $543.07 $0.00 $285.83 $51,381.98
77 $51,381.98 $543.07 $0.00 $290.52 $52,215.57
78 $52,215.57 $543.07 $0.00 $295.23 $53,053.87
79 $53,053.87 $543.07 $0.00 $299.97 $53,896.91
80 $53,896.91 $543.07 $0.00 $304.74 $54,744.72
81 $54,744.72 $543.07 $0.00 $309.53 $55,597.32
82 $55,597.32 $543.07 $0.00 $314.36 $56,454.75
83 $56,454.75 $543.07 $0.00 $319.20 $57,317.02
84 $57,317.02 $543.07 $0.00 $324.08 $58,184.17
85 $58,184.17 $543.07 $0.00 $328.98 $59,056.22
86 $59,056.22 $543.07 $0.00 $333.91 $59,933.20
87 $59,933.20 $543.07 $0.00 $338.87 $60,815.14
88 $60,815.14 $543.07 $0.00 $343.86 $61,702.07
89 $61,702.07 $543.07 $0.00 $348.87 $62,594.01
90 $62,594.01 $543.07 $0.00 $353.92 $63,491.00
91 $63,491.00 $543.07 $0.00 $358.99 $64,393.06
92 $64,393.06 $543.07 $0.00 $364.09 $65,300.22
93 $65,300.22 $543.07 $0.00 $369.22 $66,212.51
94 $66,212.51 $543.07 $0.00 $374.38 $67,129.96
95 $67,129.96 $543.07 $0.00 $379.56 $68,052.59
96 $68,052.59 $543.07 $0.00 $384.78 $68,980.44
97 $68,980.44 $543.07 $0.00 $390.03 $69,913.54
98 $69,913.54 $543.07 $0.00 $395.30 $70,851.91
99 $70,851.91 $543.07 $0.00 $400.61 $71,795.59
100 $71,795.59 $543.07 $0.00 $405.94 $72,744.60
101 $72,744.60 $543.07 $0.00 $411.31 $73,698.98
102 $73,698.98 $543.07 $0.00 $416.70 $74,658.75
103 $74,658.75 $543.07 $0.00 $422.13 $75,623.95
104 $75,623.95 $543.07 $0.00 $427.59 $76,594.61
105 $76,594.61 $543.07 $0.00 $433.08 $77,570.76
106 $77,570.76 $543.07 $0.00 $438.60 $78,552.43
107 $78,552.43 $543.07 $0.00 $444.15 $79,539.65
108 $79,539.65 $543.07 $0.00 $449.73 $80,532.45
109 $80,532.45 $543.07 $0.00 $455.34 $81,530.86
110 $81,530.86 $543.07 $0.00 $460.99 $82,534.92
111 $82,534.92 $543.07 $0.00 $466.66 $83,544.65
112 $83,544.65 $543.07 $0.00 $472.37 $84,560.09
113 $84,560.09 $543.07 $0.00 $478.12 $85,581.28
114 $85,581.28 $543.07 $0.00 $483.89 $86,608.24
115 $86,608.24 $543.07 $0.00 $489.70 $87,641.01
116 $87,641.01 $543.07 $0.00 $495.54 $88,679.62
117 $88,679.62 $543.07 $0.00 $501.41 $89,724.10
118 $89,724.10 $543.07 $0.00 $507.31 $90,774.48
119 $90,774.48 $543.07 $0.00 $513.25 $91,830.80
120 $91,830.80 $543.07 $0.00 $519.22 $92,893.09
121 $92,893.09 $543.07 $0.00 $525.23 $93,961.39
122 $93,961.39 $543.07 $0.00 $531.27 $95,035.73
123 $95,035.73 $543.07 $0.00 $537.35 $96,116.15
124 $96,116.15 $543.07 $0.00 $543.45 $97,202.67
125 $97,202.67 $543.07 $0.00 $549.60 $98,295.34
126 $98,295.34 $543.07 $0.00 $555.78 $99,394.19
127 $99,394.19 $543.07 $0.00 $561.99 $100,499.25
128 $100,499.25 $543.07 $0.00 $568.24 $101,610.56
129 $101,610.56 $543.07 $0.00 $574.52 $102,728.15
130 $102,728.15 $543.07 $0.00 $580.84 $103,852.06
131 $103,852.06 $543.07 $0.00 $587.19 $104,982.32
132 $104,982.32 $543.07 $0.00 $593.59 $106,118.98
133 $106,118.98 $543.07 $0.00 $600.01 $107,262.06
134 $107,262.06 $543.07 $0.00 $606.48 $108,411.61
135 $108,411.61 $543.07 $0.00 $612.98 $109,567.66
136 $109,567.66 $543.07 $0.00 $619.51 $110,730.24
137 $110,730.24 $543.07 $0.00 $626.08 $111,899.39
138 $111,899.39 $543.07 $0.00 $632.70 $113,075.16
139 $113,075.16 $543.07 $0.00 $639.34 $114,257.57
140 $114,257.57 $543.07 $0.00 $646.03 $115,446.67
141 $115,446.67 $543.07 $0.00 $652.75 $116,642.49
142 $116,642.49 $543.07 $0.00 $659.51 $117,845.07
143 $117,845.07 $543.07 $0.00 $666.31 $119,054.45
144 $119,054.45 $543.07 $0.00 $673.15 $120,270.67
145 $120,270.67 $543.07 $0.00 $680.03 $121,493.77
146 $121,493.77 $543.07 $0.00 $686.94 $122,723.78
147 $122,723.78 $543.07 $0.00 $693.90 $123,960.75
148 $123,960.75 $543.07 $0.00 $700.89 $125,204.71
149 $125,204.71 $543.07 $0.00 $707.93 $126,455.71
150 $126,455.71 $543.07 $0.00 $715.00 $127,713.78
151 $127,713.78 $543.07 $0.00 $722.11 $128,978.96
152 $128,978.96 $543.07 $0.00 $729.27 $130,251.30
153 $130,251.30 $543.07 $0.00 $736.46 $131,530.83
154 $131,530.83 $543.07 $0.00 $743.69 $132,817.59
155 $132,817.59 $543.07 $0.00 $750.97 $134,111.63
156 $134,111.63 $543.07 $0.00 $758.29 $135,412.99
157 $135,412.99 $543.07 $0.00 $765.64 $136,721.70
158 $136,721.70 $543.07 $0.00 $773.04 $138,037.81
159 $138,037.81 $543.07 $0.00 $780.49 $139,361.37
160 $139,361.37 $543.07 $0.00 $787.97 $140,692.41
161 $140,692.41 $543.07 $0.00 $795.50 $142,030.98
162 $142,030.98 $543.07 $0.00 $803.06 $143,377.11
163 $143,377.11 $543.07 $0.00 $810.68 $144,730.86
164 $144,730.86 $543.07 $0.00 $818.33 $146,092.26
165 $146,092.26 $543.07 $0.00 $826.03 $147,461.36
166 $147,461.36 $543.07 $0.00 $833.77 $148,838.20
167 $148,838.20 $543.07 $0.00 $841.55 $150,222.82
168 $150,222.82 $543.07 $0.00 $849.38 $151,615.27
169 $151,615.27 $543.07 $0.00 $857.25 $153,015.59
170 $153,015.59 $543.07 $0.00 $865.17 $154,423.83
171 $154,423.83 $543.07 $0.00 $873.13 $155,840.03
172 $155,840.03 $543.07 $0.00 $881.14 $157,264.24
173 $157,264.24 $543.07 $0.00 $889.19 $158,696.50
174 $158,696.50 $543.07 $0.00 $897.29 $160,136.86
175 $160,136.86 $543.07 $0.00 $905.44 $161,585.37
176 $161,585.37 $543.07 $0.00 $913.63 $163,042.07
177 $163,042.07 $543.07 $0.00 $921.86 $164,507.00
178 $164,507.00 $543.07 $0.00 $930.15 $165,980.22
179 $165,980.22 $543.07 $0.00 $938.48 $167,461.77
180 $167,461.77 $543.07 $0.00 $946.85 $168,951.69
181 $168,951.69 $543.07 $0.00 $955.28 $170,450.04
182 $170,450.04 $543.07 $0.00 $963.75 $171,956.86
183 $171,956.86 $543.07 $0.00 $972.27 $173,472.20
184 $173,472.20 $543.07 $0.00 $980.84 $174,996.11
185 $174,996.11 $543.07 $0.00 $989.45 $176,528.63
186 $176,528.63 $543.07 $0.00 $998.12 $178,069.82
187 $178,069.82 $543.07 $0.00 $1,006.83 $179,619.72
188 $179,619.72 $543.07 $0.00 $1,015.60 $181,178.39
189 $181,178.39 $543.07 $0.00 $1,024.41 $182,745.87
190 $182,745.87 $543.07 $0.00 $1,033.27 $184,322.21
191 $184,322.21 $543.07 $0.00 $1,042.18 $185,907.46
192 $185,907.46 $543.07 $0.00 $1,051.15 $187,501.68
193 $187,501.68 $543.07 $0.00 $1,060.16 $189,104.91
194 $189,104.91 $543.07 $0.00 $1,069.23 $190,717.21
195 $190,717.21 $543.07 $0.00 $1,078.34 $192,338.62
196 $192,338.62 $543.07 $0.00 $1,087.51 $193,969.20
197 $193,969.20 $543.07 $0.00 $1,096.73 $195,609.00
198 $195,609.00 $543.07 $0.00 $1,106.00 $197,258.07
199 $197,258.07 $543.07 $0.00 $1,115.33 $198,916.47
200 $198,916.47 $543.07 $0.00 $1,124.70 $200,584.24
201 $200,584.24 $543.07 $0.00 $1,134.13 $202,261.44
202 $202,261.44 $543.07 $0.00 $1,143.62 $203,948.13
203 $203,948.13 $543.07 $0.00 $1,153.15 $205,644.35
204 $205,644.35 $543.07 $0.00 $1,162.74 $207,350.16
205 $207,350.16 $543.07 $0.00 $1,172.39 $209,065.62
206 $209,065.62 $543.07 $0.00 $1,182.09 $210,790.78
207 $210,790.78 $543.07 $0.00 $1,191.84 $212,525.69
208 $212,525.69 $543.07 $0.00 $1,201.65 $214,270.41
209 $214,270.41 $543.07 $0.00 $1,211.52 $216,025.00
210 $216,025.00 $543.07 $0.00 $1,221.44 $217,789.51
211 $217,789.51 $543.07 $0.00 $1,231.41 $219,563.99
212 $219,563.99 $543.07 $0.00 $1,241.45 $221,348.51
213 $221,348.51 $543.07 $0.00 $1,251.54 $223,143.12
214 $223,143.12 $543.07 $0.00 $1,261.68 $224,947.87
215 $224,947.87 $543.07 $0.00 $1,271.89 $226,762.83
216 $226,762.83 $543.07 $0.00 $1,282.15 $228,588.05
217 $228,588.05 $543.07 $63,669.52 $1,292.47 $166,754.07
218 $166,754.07 $543.07 $0.00 $942.85 $168,239.99
219 $168,239.99 $543.07 $0.00 $951.25 $169,734.31
220 $169,734.31 $543.07 $0.00 $959.70 $171,237.08
221 $171,237.08 $543.07 $0.00 $968.20 $172,748.35
222 $172,748.35 $543.07 $0.00 $976.74 $174,268.16
223 $174,268.16 $543.07 $0.00 $985.34 $175,796.57
224 $175,796.57 $543.07 $0.00 $993.98 $177,333.62
225 $177,333.62 $543.07 $0.00 $1,002.67 $178,879.36
226 $178,879.36 $543.07 $0.00 $1,011.41 $180,433.84
227 $180,433.84 $543.07 $0.00 $1,020.20 $181,997.11
228 $181,997.11 $543.07 $0.00 $1,029.04 $183,569.22
229 $183,569.22 $543.07 $66,852.99 $1,037.93 $118,297.23
230 $118,297.23 $543.07 $0.00 $668.87 $119,509.17
231 $119,509.17 $543.07 $0.00 $675.72 $120,727.96
232 $120,727.96 $543.07 $0.00 $682.61 $121,953.64
233 $121,953.64 $543.07 $0.00 $689.54 $123,186.25
234 $123,186.25 $543.07 $0.00 $696.51 $124,425.83
235 $124,425.83 $543.07 $0.00 $703.52 $125,672.42
236 $125,672.42 $543.07 $0.00 $710.57 $126,926.06
237 $126,926.06 $543.07 $0.00 $717.66 $128,186.79
238 $128,186.79 $543.07 $0.00 $724.79 $129,454.65
239 $129,454.65 $543.07 $0.00 $731.96 $130,729.68
240 $130,729.68 $543.07 $0.00 $739.16 $132,011.91
241 $132,011.91 $543.07 $70,195.64 $746.41 $63,105.75
242 $63,105.75 $543.07 $0.00 $356.81 $64,005.63
243 $64,005.63 $543.07 $0.00 $361.90 $64,910.60
244 $64,910.60 $543.07 $0.00 $367.01 $65,820.68
245 $65,820.68 $543.07 $0.00 $372.16 $66,735.91
246 $66,735.91 $543.07 $0.00 $377.33 $67,656.31
247 $67,656.31 $543.07 $0.00 $382.54 $68,581.92
248 $68,581.92 $543.07 $0.00 $387.77 $69,512.76
249 $69,512.76 $543.07 $0.00 $393.04 $70,448.87
250 $70,448.87 $543.07 $0.00 $398.33 $71,390.27
251 $71,390.27 $543.07 $0.00 $403.65 $72,336.99
252 $72,336.99 $543.07 $0.00 $409.00 $73,289.06
253 $73,289.06 $0.00 $73,705.43 $414.39 ($1.98)