Savings Plan and Future Cost Estimation for Roanoke College

How much will it cost and what do you need to save?

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$202,463
Monthly savings required$1,600

How much will it cost to send your child to Roanoke College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $809,851.93 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,600.12 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$53,966.00
Years until enrollment18
Annual Tuition Increase7%
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 $1,600.12 $0.00 $0.00 $1,600.12
2 $1,600.12 $1,600.12 $0.00 $9.05 $3,209.29
3 $3,209.29 $1,600.12 $0.00 $18.15 $4,827.56
4 $4,827.56 $1,600.12 $0.00 $27.30 $6,454.98
5 $6,454.98 $1,600.12 $0.00 $36.50 $8,091.60
6 $8,091.60 $1,600.12 $0.00 $45.75 $9,737.47
7 $9,737.47 $1,600.12 $0.00 $55.06 $11,392.65
8 $11,392.65 $1,600.12 $0.00 $64.42 $13,057.19
9 $13,057.19 $1,600.12 $0.00 $73.83 $14,731.14
10 $14,731.14 $1,600.12 $0.00 $83.29 $16,414.55
11 $16,414.55 $1,600.12 $0.00 $92.81 $18,107.48
12 $18,107.48 $1,600.12 $0.00 $102.38 $19,809.98
13 $19,809.98 $1,600.12 $0.00 $112.01 $21,522.11
14 $21,522.11 $1,600.12 $0.00 $121.69 $23,243.92
15 $23,243.92 $1,600.12 $0.00 $131.42 $24,975.46
16 $24,975.46 $1,600.12 $0.00 $141.21 $26,716.79
17 $26,716.79 $1,600.12 $0.00 $151.06 $28,467.97
18 $28,467.97 $1,600.12 $0.00 $160.96 $30,229.05
19 $30,229.05 $1,600.12 $0.00 $170.92 $32,000.09
20 $32,000.09 $1,600.12 $0.00 $180.93 $33,781.14
21 $33,781.14 $1,600.12 $0.00 $191.00 $35,572.26
22 $35,572.26 $1,600.12 $0.00 $201.13 $37,373.51
23 $37,373.51 $1,600.12 $0.00 $211.32 $39,184.95
24 $39,184.95 $1,600.12 $0.00 $221.56 $41,006.63
25 $41,006.63 $1,600.12 $0.00 $231.86 $42,838.61
26 $42,838.61 $1,600.12 $0.00 $242.22 $44,680.95
27 $44,680.95 $1,600.12 $0.00 $252.63 $46,533.70
28 $46,533.70 $1,600.12 $0.00 $263.11 $48,396.93
29 $48,396.93 $1,600.12 $0.00 $273.64 $50,270.69
30 $50,270.69 $1,600.12 $0.00 $284.24 $52,155.05
31 $52,155.05 $1,600.12 $0.00 $294.89 $54,050.06
32 $54,050.06 $1,600.12 $0.00 $305.61 $55,955.79
33 $55,955.79 $1,600.12 $0.00 $316.38 $57,872.29
34 $57,872.29 $1,600.12 $0.00 $327.22 $59,799.63
35 $59,799.63 $1,600.12 $0.00 $338.12 $61,737.87
36 $61,737.87 $1,600.12 $0.00 $349.07 $63,687.06
37 $63,687.06 $1,600.12 $0.00 $360.10 $65,647.28
38 $65,647.28 $1,600.12 $0.00 $371.18 $67,618.58
39 $67,618.58 $1,600.12 $0.00 $382.33 $69,601.03
40 $69,601.03 $1,600.12 $0.00 $393.53 $71,594.68
41 $71,594.68 $1,600.12 $0.00 $404.81 $73,599.61
42 $73,599.61 $1,600.12 $0.00 $416.14 $75,615.87
43 $75,615.87 $1,600.12 $0.00 $427.54 $77,643.53
44 $77,643.53 $1,600.12 $0.00 $439.01 $79,682.66
45 $79,682.66 $1,600.12 $0.00 $450.54 $81,733.32
46 $81,733.32 $1,600.12 $0.00 $462.13 $83,795.57
47 $83,795.57 $1,600.12 $0.00 $473.79 $85,869.48
48 $85,869.48 $1,600.12 $0.00 $485.52 $87,955.12
49 $87,955.12 $1,600.12 $0.00 $497.31 $90,052.55
50 $90,052.55 $1,600.12 $0.00 $509.17 $92,161.84
51 $92,161.84 $1,600.12 $0.00 $521.10 $94,283.06
52 $94,283.06 $1,600.12 $0.00 $533.09 $96,416.27
53 $96,416.27 $1,600.12 $0.00 $545.15 $98,561.54
54 $98,561.54 $1,600.12 $0.00 $557.28 $100,718.94
55 $100,718.94 $1,600.12 $0.00 $569.48 $102,888.54
56 $102,888.54 $1,600.12 $0.00 $581.75 $105,070.41
57 $105,070.41 $1,600.12 $0.00 $594.08 $107,264.61
58 $107,264.61 $1,600.12 $0.00 $606.49 $109,471.22
59 $109,471.22 $1,600.12 $0.00 $618.97 $111,690.31
60 $111,690.31 $1,600.12 $0.00 $631.51 $113,921.94
61 $113,921.94 $1,600.12 $0.00 $644.13 $116,166.19
62 $116,166.19 $1,600.12 $0.00 $656.82 $118,423.13
63 $118,423.13 $1,600.12 $0.00 $669.58 $120,692.83
64 $120,692.83 $1,600.12 $0.00 $682.41 $122,975.36
65 $122,975.36 $1,600.12 $0.00 $695.32 $125,270.80
66 $125,270.80 $1,600.12 $0.00 $708.30 $127,579.22
67 $127,579.22 $1,600.12 $0.00 $721.35 $129,900.69
68 $129,900.69 $1,600.12 $0.00 $734.48 $132,235.29
69 $132,235.29 $1,600.12 $0.00 $747.68 $134,583.09
70 $134,583.09 $1,600.12 $0.00 $760.95 $136,944.16
71 $136,944.16 $1,600.12 $0.00 $774.30 $139,318.58
72 $139,318.58 $1,600.12 $0.00 $787.73 $141,706.43
73 $141,706.43 $1,600.12 $0.00 $801.23 $144,107.78
74 $144,107.78 $1,600.12 $0.00 $814.81 $146,522.71
75 $146,522.71 $1,600.12 $0.00 $828.46 $148,951.29
76 $148,951.29 $1,600.12 $0.00 $842.19 $151,393.60
77 $151,393.60 $1,600.12 $0.00 $856.00 $153,849.72
78 $153,849.72 $1,600.12 $0.00 $869.89 $156,319.73
79 $156,319.73 $1,600.12 $0.00 $883.85 $158,803.70
80 $158,803.70 $1,600.12 $0.00 $897.90 $161,301.72
81 $161,301.72 $1,600.12 $0.00 $912.02 $163,813.86
82 $163,813.86 $1,600.12 $0.00 $926.23 $166,340.21
83 $166,340.21 $1,600.12 $0.00 $940.51 $168,880.84
84 $168,880.84 $1,600.12 $0.00 $954.88 $171,435.84
85 $171,435.84 $1,600.12 $0.00 $969.32 $174,005.28
86 $174,005.28 $1,600.12 $0.00 $983.85 $176,589.25
87 $176,589.25 $1,600.12 $0.00 $998.46 $179,187.83
88 $179,187.83 $1,600.12 $0.00 $1,013.15 $181,801.10
89 $181,801.10 $1,600.12 $0.00 $1,027.93 $184,429.15
90 $184,429.15 $1,600.12 $0.00 $1,042.79 $187,072.06
91 $187,072.06 $1,600.12 $0.00 $1,057.73 $189,729.91
92 $189,729.91 $1,600.12 $0.00 $1,072.76 $192,402.79
93 $192,402.79 $1,600.12 $0.00 $1,087.87 $195,090.78
94 $195,090.78 $1,600.12 $0.00 $1,103.07 $197,793.97
95 $197,793.97 $1,600.12 $0.00 $1,118.36 $200,512.45
96 $200,512.45 $1,600.12 $0.00 $1,133.73 $203,246.30
97 $203,246.30 $1,600.12 $0.00 $1,149.18 $205,995.60
98 $205,995.60 $1,600.12 $0.00 $1,164.73 $208,760.45
99 $208,760.45 $1,600.12 $0.00 $1,180.36 $211,540.93
100 $211,540.93 $1,600.12 $0.00 $1,196.08 $214,337.13
101 $214,337.13 $1,600.12 $0.00 $1,211.89 $217,149.14
102 $217,149.14 $1,600.12 $0.00 $1,227.79 $219,977.05
103 $219,977.05 $1,600.12 $0.00 $1,243.78 $222,820.95
104 $222,820.95 $1,600.12 $0.00 $1,259.86 $225,680.93
105 $225,680.93 $1,600.12 $0.00 $1,276.03 $228,557.08
106 $228,557.08 $1,600.12 $0.00 $1,292.29 $231,449.49
107 $231,449.49 $1,600.12 $0.00 $1,308.65 $234,358.26
108 $234,358.26 $1,600.12 $0.00 $1,325.10 $237,283.48
109 $237,283.48 $1,600.12 $0.00 $1,341.64 $240,225.24
110 $240,225.24 $1,600.12 $0.00 $1,358.27 $243,183.63
111 $243,183.63 $1,600.12 $0.00 $1,375.00 $246,158.75
112 $246,158.75 $1,600.12 $0.00 $1,391.82 $249,150.69
113 $249,150.69 $1,600.12 $0.00 $1,408.73 $252,159.54
114 $252,159.54 $1,600.12 $0.00 $1,425.75 $255,185.41
115 $255,185.41 $1,600.12 $0.00 $1,442.86 $258,228.39
116 $258,228.39 $1,600.12 $0.00 $1,460.06 $261,288.57
117 $261,288.57 $1,600.12 $0.00 $1,477.36 $264,366.05
118 $264,366.05 $1,600.12 $0.00 $1,494.76 $267,460.93
119 $267,460.93 $1,600.12 $0.00 $1,512.26 $270,573.31
120 $270,573.31 $1,600.12 $0.00 $1,529.86 $273,703.29
121 $273,703.29 $1,600.12 $0.00 $1,547.56 $276,850.97
122 $276,850.97 $1,600.12 $0.00 $1,565.36 $280,016.45
123 $280,016.45 $1,600.12 $0.00 $1,583.25 $283,199.82
124 $283,199.82 $1,600.12 $0.00 $1,601.25 $286,401.19
125 $286,401.19 $1,600.12 $0.00 $1,619.35 $289,620.66
126 $289,620.66 $1,600.12 $0.00 $1,637.56 $292,858.34
127 $292,858.34 $1,600.12 $0.00 $1,655.86 $296,114.32
128 $296,114.32 $1,600.12 $0.00 $1,674.27 $299,388.71
129 $299,388.71 $1,600.12 $0.00 $1,692.79 $302,681.62
130 $302,681.62 $1,600.12 $0.00 $1,711.41 $305,993.15
131 $305,993.15 $1,600.12 $0.00 $1,730.13 $309,323.40
132 $309,323.40 $1,600.12 $0.00 $1,748.96 $312,672.48
133 $312,672.48 $1,600.12 $0.00 $1,767.90 $316,040.50
134 $316,040.50 $1,600.12 $0.00 $1,786.94 $319,427.56
135 $319,427.56 $1,600.12 $0.00 $1,806.09 $322,833.77
136 $322,833.77 $1,600.12 $0.00 $1,825.35 $326,259.24
137 $326,259.24 $1,600.12 $0.00 $1,844.72 $329,704.08
138 $329,704.08 $1,600.12 $0.00 $1,864.19 $333,168.39
139 $333,168.39 $1,600.12 $0.00 $1,883.78 $336,652.29
140 $336,652.29 $1,600.12 $0.00 $1,903.48 $340,155.89
141 $340,155.89 $1,600.12 $0.00 $1,923.29 $343,679.30
142 $343,679.30 $1,600.12 $0.00 $1,943.21 $347,222.63
143 $347,222.63 $1,600.12 $0.00 $1,963.25 $350,786.00
144 $350,786.00 $1,600.12 $0.00 $1,983.40 $354,369.52
145 $354,369.52 $1,600.12 $0.00 $2,003.66 $357,973.30
146 $357,973.30 $1,600.12 $0.00 $2,024.03 $361,597.45
147 $361,597.45 $1,600.12 $0.00 $2,044.52 $365,242.09
148 $365,242.09 $1,600.12 $0.00 $2,065.13 $368,907.34
149 $368,907.34 $1,600.12 $0.00 $2,085.86 $372,593.32
150 $372,593.32 $1,600.12 $0.00 $2,106.70 $376,300.14
151 $376,300.14 $1,600.12 $0.00 $2,127.66 $380,027.92
152 $380,027.92 $1,600.12 $0.00 $2,148.73 $383,776.77
153 $383,776.77 $1,600.12 $0.00 $2,169.93 $387,546.82
154 $387,546.82 $1,600.12 $0.00 $2,191.25 $391,338.19
155 $391,338.19 $1,600.12 $0.00 $2,212.68 $395,150.99
156 $395,150.99 $1,600.12 $0.00 $2,234.24 $398,985.35
157 $398,985.35 $1,600.12 $0.00 $2,255.92 $402,841.39
158 $402,841.39 $1,600.12 $0.00 $2,277.72 $406,719.23
159 $406,719.23 $1,600.12 $0.00 $2,299.65 $410,619.00
160 $410,619.00 $1,600.12 $0.00 $2,321.70 $414,540.82
161 $414,540.82 $1,600.12 $0.00 $2,343.87 $418,484.81
162 $418,484.81 $1,600.12 $0.00 $2,366.17 $422,451.10
163 $422,451.10 $1,600.12 $0.00 $2,388.60 $426,439.82
164 $426,439.82 $1,600.12 $0.00 $2,411.15 $430,451.09
165 $430,451.09 $1,600.12 $0.00 $2,433.83 $434,485.04
166 $434,485.04 $1,600.12 $0.00 $2,456.64 $438,541.80
167 $438,541.80 $1,600.12 $0.00 $2,479.58 $442,621.50
168 $442,621.50 $1,600.12 $0.00 $2,502.65 $446,724.27
169 $446,724.27 $1,600.12 $0.00 $2,525.84 $450,850.23
170 $450,850.23 $1,600.12 $0.00 $2,549.17 $454,999.52
171 $454,999.52 $1,600.12 $0.00 $2,572.63 $459,172.27
172 $459,172.27 $1,600.12 $0.00 $2,596.23 $463,368.62
173 $463,368.62 $1,600.12 $0.00 $2,619.95 $467,588.69
174 $467,588.69 $1,600.12 $0.00 $2,643.81 $471,832.62
175 $471,832.62 $1,600.12 $0.00 $2,667.81 $476,100.55
176 $476,100.55 $1,600.12 $0.00 $2,691.94 $480,392.61
177 $480,392.61 $1,600.12 $0.00 $2,716.21 $484,708.94
178 $484,708.94 $1,600.12 $0.00 $2,740.61 $489,049.67
179 $489,049.67 $1,600.12 $0.00 $2,765.16 $493,414.95
180 $493,414.95 $1,600.12 $0.00 $2,789.84 $497,804.91
181 $497,804.91 $1,600.12 $0.00 $2,814.66 $502,219.69
182 $502,219.69 $1,600.12 $0.00 $2,839.62 $506,659.43
183 $506,659.43 $1,600.12 $0.00 $2,864.73 $511,124.28
184 $511,124.28 $1,600.12 $0.00 $2,889.97 $515,614.37
185 $515,614.37 $1,600.12 $0.00 $2,915.36 $520,129.85
186 $520,129.85 $1,600.12 $0.00 $2,940.89 $524,670.86
187 $524,670.86 $1,600.12 $0.00 $2,966.57 $529,237.55
188 $529,237.55 $1,600.12 $0.00 $2,992.39 $533,830.06
189 $533,830.06 $1,600.12 $0.00 $3,018.35 $538,448.53
190 $538,448.53 $1,600.12 $0.00 $3,044.47 $543,093.12
191 $543,093.12 $1,600.12 $0.00 $3,070.73 $547,763.97
192 $547,763.97 $1,600.12 $0.00 $3,097.14 $552,461.23
193 $552,461.23 $1,600.12 $0.00 $3,123.70 $557,185.05
194 $557,185.05 $1,600.12 $0.00 $3,150.41 $561,935.58
195 $561,935.58 $1,600.12 $0.00 $3,177.27 $566,712.97
196 $566,712.97 $1,600.12 $0.00 $3,204.28 $571,517.37
197 $571,517.37 $1,600.12 $0.00 $3,231.44 $576,348.93
198 $576,348.93 $1,600.12 $0.00 $3,258.76 $581,207.81
199 $581,207.81 $1,600.12 $0.00 $3,286.23 $586,094.16
200 $586,094.16 $1,600.12 $0.00 $3,313.86 $591,008.14
201 $591,008.14 $1,600.12 $0.00 $3,341.65 $595,949.91
202 $595,949.91 $1,600.12 $0.00 $3,369.59 $600,919.62
203 $600,919.62 $1,600.12 $0.00 $3,397.69 $605,917.43
204 $605,917.43 $1,600.12 $0.00 $3,425.95 $610,943.50
205 $610,943.50 $1,600.12 $0.00 $3,454.36 $615,997.98
206 $615,997.98 $1,600.12 $0.00 $3,482.94 $621,081.04
207 $621,081.04 $1,600.12 $0.00 $3,511.68 $626,192.84
208 $626,192.84 $1,600.12 $0.00 $3,540.59 $631,333.55
209 $631,333.55 $1,600.12 $0.00 $3,569.65 $636,503.32
210 $636,503.32 $1,600.12 $0.00 $3,598.88 $641,702.32
211 $641,702.32 $1,600.12 $0.00 $3,628.28 $646,930.72
212 $646,930.72 $1,600.12 $0.00 $3,657.84 $652,188.68
213 $652,188.68 $1,600.12 $0.00 $3,687.57 $657,476.37
214 $657,476.37 $1,600.12 $0.00 $3,717.47 $662,793.96
215 $662,793.96 $1,600.12 $0.00 $3,747.53 $668,141.61
216 $668,141.61 $1,600.12 $0.00 $3,777.77 $673,519.50
217 $673,519.50 $1,600.12 $182,401.43 $3,808.18 $496,526.37
218 $496,526.37 $1,600.12 $0.00 $2,807.43 $500,933.92
219 $500,933.92 $1,600.12 $0.00 $2,832.35 $505,366.39
220 $505,366.39 $1,600.12 $0.00 $2,857.42 $509,823.93
221 $509,823.93 $1,600.12 $0.00 $2,882.62 $514,306.67
222 $514,306.67 $1,600.12 $0.00 $2,907.96 $518,814.75
223 $518,814.75 $1,600.12 $0.00 $2,933.45 $523,348.32
224 $523,348.32 $1,600.12 $0.00 $2,959.09 $527,907.53
225 $527,907.53 $1,600.12 $0.00 $2,984.87 $532,492.52
226 $532,492.52 $1,600.12 $0.00 $3,010.79 $537,103.43
227 $537,103.43 $1,600.12 $0.00 $3,036.86 $541,740.41
228 $541,740.41 $1,600.12 $0.00 $3,063.08 $546,403.61
229 $546,403.61 $1,600.12 $195,169.52 $3,089.45 $355,923.66
230 $355,923.66 $1,600.12 $0.00 $2,012.44 $359,536.22
231 $359,536.22 $1,600.12 $0.00 $2,032.87 $363,169.21
232 $363,169.21 $1,600.12 $0.00 $2,053.41 $366,822.74
233 $366,822.74 $1,600.12 $0.00 $2,074.07 $370,496.93
234 $370,496.93 $1,600.12 $0.00 $2,094.84 $374,191.89
235 $374,191.89 $1,600.12 $0.00 $2,115.74 $377,907.75
236 $377,907.75 $1,600.12 $0.00 $2,136.75 $381,644.62
237 $381,644.62 $1,600.12 $0.00 $2,157.87 $385,402.61
238 $385,402.61 $1,600.12 $0.00 $2,179.12 $389,181.85
239 $389,181.85 $1,600.12 $0.00 $2,200.49 $392,982.46
240 $392,982.46 $1,600.12 $0.00 $2,221.98 $396,804.56
241 $396,804.56 $1,600.12 $208,831.39 $2,243.59 $191,816.88
242 $191,816.88 $1,600.12 $0.00 $1,084.56 $194,501.56
243 $194,501.56 $1,600.12 $0.00 $1,099.74 $197,201.42
244 $197,201.42 $1,600.12 $0.00 $1,115.01 $199,916.55
245 $199,916.55 $1,600.12 $0.00 $1,130.36 $202,647.03
246 $202,647.03 $1,600.12 $0.00 $1,145.80 $205,392.95
247 $205,392.95 $1,600.12 $0.00 $1,161.32 $208,154.39
248 $208,154.39 $1,600.12 $0.00 $1,176.94 $210,931.45
249 $210,931.45 $1,600.12 $0.00 $1,192.64 $213,724.21
250 $213,724.21 $1,600.12 $0.00 $1,208.43 $216,532.76
251 $216,532.76 $1,600.12 $0.00 $1,224.31 $219,357.19
252 $219,357.19 $1,600.12 $0.00 $1,240.28 $222,197.59
253 $222,197.59 $0.00 $223,449.59 $1,256.34 $4.34