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 2041$172,630
Monthly savings required$1,367

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 $690,519.27 for students enrolling in 2041 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,366.52 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$66,570.00
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 $1,366.52 $0.00 $0.00 $1,366.52
2 $1,366.52 $1,366.52 $0.00 $7.73 $2,740.77
3 $2,740.77 $1,366.52 $0.00 $15.50 $4,122.79
4 $4,122.79 $1,366.52 $0.00 $23.31 $5,512.62
5 $5,512.62 $1,366.52 $0.00 $31.17 $6,910.31
6 $6,910.31 $1,366.52 $0.00 $39.07 $8,315.90
7 $8,315.90 $1,366.52 $0.00 $47.02 $9,729.44
8 $9,729.44 $1,366.52 $0.00 $55.01 $11,150.97
9 $11,150.97 $1,366.52 $0.00 $63.05 $12,580.54
10 $12,580.54 $1,366.52 $0.00 $71.13 $14,018.19
11 $14,018.19 $1,366.52 $0.00 $79.26 $15,463.97
12 $15,463.97 $1,366.52 $0.00 $87.44 $16,917.93
13 $16,917.93 $1,366.52 $0.00 $95.66 $18,380.11
14 $18,380.11 $1,366.52 $0.00 $103.92 $19,850.55
15 $19,850.55 $1,366.52 $0.00 $112.24 $21,329.31
16 $21,329.31 $1,366.52 $0.00 $120.60 $22,816.43
17 $22,816.43 $1,366.52 $0.00 $129.01 $24,311.96
18 $24,311.96 $1,366.52 $0.00 $137.46 $25,815.94
19 $25,815.94 $1,366.52 $0.00 $145.97 $27,328.43
20 $27,328.43 $1,366.52 $0.00 $154.52 $28,849.47
21 $28,849.47 $1,366.52 $0.00 $163.12 $30,379.11
22 $30,379.11 $1,366.52 $0.00 $171.77 $31,917.40
23 $31,917.40 $1,366.52 $0.00 $180.47 $33,464.39
24 $33,464.39 $1,366.52 $0.00 $189.21 $35,020.12
25 $35,020.12 $1,366.52 $0.00 $198.01 $36,584.65
26 $36,584.65 $1,366.52 $0.00 $206.85 $38,158.02
27 $38,158.02 $1,366.52 $0.00 $215.75 $39,740.29
28 $39,740.29 $1,366.52 $0.00 $224.70 $41,331.51
29 $41,331.51 $1,366.52 $0.00 $233.69 $42,931.72
30 $42,931.72 $1,366.52 $0.00 $242.74 $44,540.98
31 $44,540.98 $1,366.52 $0.00 $251.84 $46,159.34
32 $46,159.34 $1,366.52 $0.00 $260.99 $47,786.85
33 $47,786.85 $1,366.52 $0.00 $270.19 $49,423.56
34 $49,423.56 $1,366.52 $0.00 $279.45 $51,069.53
35 $51,069.53 $1,366.52 $0.00 $288.75 $52,724.80
36 $52,724.80 $1,366.52 $0.00 $298.11 $54,389.43
37 $54,389.43 $1,366.52 $0.00 $307.53 $56,063.48
38 $56,063.48 $1,366.52 $0.00 $316.99 $57,746.99
39 $57,746.99 $1,366.52 $0.00 $326.51 $59,440.02
40 $59,440.02 $1,366.52 $0.00 $336.08 $61,142.62
41 $61,142.62 $1,366.52 $0.00 $345.71 $62,854.85
42 $62,854.85 $1,366.52 $0.00 $355.39 $64,576.76
43 $64,576.76 $1,366.52 $0.00 $365.13 $66,308.41
44 $66,308.41 $1,366.52 $0.00 $374.92 $68,049.85
45 $68,049.85 $1,366.52 $0.00 $384.76 $69,801.13
46 $69,801.13 $1,366.52 $0.00 $394.67 $71,562.32
47 $71,562.32 $1,366.52 $0.00 $404.62 $73,333.46
48 $73,333.46 $1,366.52 $0.00 $414.64 $75,114.62
49 $75,114.62 $1,366.52 $0.00 $424.71 $76,905.85
50 $76,905.85 $1,366.52 $0.00 $434.84 $78,707.21
51 $78,707.21 $1,366.52 $0.00 $445.02 $80,518.75
52 $80,518.75 $1,366.52 $0.00 $455.26 $82,340.53
53 $82,340.53 $1,366.52 $0.00 $465.57 $84,172.62
54 $84,172.62 $1,366.52 $0.00 $475.92 $86,015.06
55 $86,015.06 $1,366.52 $0.00 $486.34 $87,867.92
56 $87,867.92 $1,366.52 $0.00 $496.82 $89,731.26
57 $89,731.26 $1,366.52 $0.00 $507.35 $91,605.13
58 $91,605.13 $1,366.52 $0.00 $517.95 $93,489.60
59 $93,489.60 $1,366.52 $0.00 $528.60 $95,384.72
60 $95,384.72 $1,366.52 $0.00 $539.32 $97,290.56
61 $97,290.56 $1,366.52 $0.00 $550.09 $99,207.17
62 $99,207.17 $1,366.52 $0.00 $560.93 $101,134.62
63 $101,134.62 $1,366.52 $0.00 $571.83 $103,072.97
64 $103,072.97 $1,366.52 $0.00 $582.79 $105,022.28
65 $105,022.28 $1,366.52 $0.00 $593.81 $106,982.61
66 $106,982.61 $1,366.52 $0.00 $604.90 $108,954.03
67 $108,954.03 $1,366.52 $0.00 $616.04 $110,936.59
68 $110,936.59 $1,366.52 $0.00 $627.25 $112,930.36
69 $112,930.36 $1,366.52 $0.00 $638.52 $114,935.40
70 $114,935.40 $1,366.52 $0.00 $649.86 $116,951.78
71 $116,951.78 $1,366.52 $0.00 $661.26 $118,979.56
72 $118,979.56 $1,366.52 $0.00 $672.73 $121,018.81
73 $121,018.81 $1,366.52 $0.00 $684.26 $123,069.59
74 $123,069.59 $1,366.52 $0.00 $695.85 $125,131.96
75 $125,131.96 $1,366.52 $0.00 $707.51 $127,205.99
76 $127,205.99 $1,366.52 $0.00 $719.24 $129,291.75
77 $129,291.75 $1,366.52 $0.00 $731.03 $131,389.30
78 $131,389.30 $1,366.52 $0.00 $742.89 $133,498.71
79 $133,498.71 $1,366.52 $0.00 $754.82 $135,620.05
80 $135,620.05 $1,366.52 $0.00 $766.82 $137,753.39
81 $137,753.39 $1,366.52 $0.00 $778.88 $139,898.79
82 $139,898.79 $1,366.52 $0.00 $791.01 $142,056.32
83 $142,056.32 $1,366.52 $0.00 $803.21 $144,226.05
84 $144,226.05 $1,366.52 $0.00 $815.48 $146,408.05
85 $146,408.05 $1,366.52 $0.00 $827.81 $148,602.38
86 $148,602.38 $1,366.52 $0.00 $840.22 $150,809.12
87 $150,809.12 $1,366.52 $0.00 $852.70 $153,028.34
88 $153,028.34 $1,366.52 $0.00 $865.24 $155,260.10
89 $155,260.10 $1,366.52 $0.00 $877.86 $157,504.48
90 $157,504.48 $1,366.52 $0.00 $890.55 $159,761.55
91 $159,761.55 $1,366.52 $0.00 $903.32 $162,031.39
92 $162,031.39 $1,366.52 $0.00 $916.15 $164,314.06
93 $164,314.06 $1,366.52 $0.00 $929.06 $166,609.64
94 $166,609.64 $1,366.52 $0.00 $942.04 $168,918.20
95 $168,918.20 $1,366.52 $0.00 $955.09 $171,239.81
96 $171,239.81 $1,366.52 $0.00 $968.21 $173,574.54
97 $173,574.54 $1,366.52 $0.00 $981.42 $175,922.48
98 $175,922.48 $1,366.52 $0.00 $994.69 $178,283.69
99 $178,283.69 $1,366.52 $0.00 $1,008.04 $180,658.25
100 $180,658.25 $1,366.52 $0.00 $1,021.47 $183,046.24
101 $183,046.24 $1,366.52 $0.00 $1,034.97 $185,447.73
102 $185,447.73 $1,366.52 $0.00 $1,048.55 $187,862.80
103 $187,862.80 $1,366.52 $0.00 $1,062.20 $190,291.52
104 $190,291.52 $1,366.52 $0.00 $1,075.94 $192,733.98
105 $192,733.98 $1,366.52 $0.00 $1,089.75 $195,190.25
106 $195,190.25 $1,366.52 $0.00 $1,103.63 $197,660.40
107 $197,660.40 $1,366.52 $0.00 $1,117.60 $200,144.52
108 $200,144.52 $1,366.52 $0.00 $1,131.65 $202,642.69
109 $202,642.69 $1,366.52 $0.00 $1,145.77 $205,154.98
110 $205,154.98 $1,366.52 $0.00 $1,159.98 $207,681.48
111 $207,681.48 $1,366.52 $0.00 $1,174.26 $210,222.26
112 $210,222.26 $1,366.52 $0.00 $1,188.63 $212,777.41
113 $212,777.41 $1,366.52 $0.00 $1,203.07 $215,347.00
114 $215,347.00 $1,366.52 $0.00 $1,217.60 $217,931.12
115 $217,931.12 $1,366.52 $0.00 $1,232.21 $220,529.85
116 $220,529.85 $1,366.52 $0.00 $1,246.91 $223,143.28
117 $223,143.28 $1,366.52 $0.00 $1,261.68 $225,771.48
118 $225,771.48 $1,366.52 $0.00 $1,276.54 $228,414.54
119 $228,414.54 $1,366.52 $0.00 $1,291.49 $231,072.55
120 $231,072.55 $1,366.52 $0.00 $1,306.52 $233,745.59
121 $233,745.59 $1,366.52 $0.00 $1,321.63 $236,433.74
122 $236,433.74 $1,366.52 $0.00 $1,336.83 $239,137.09
123 $239,137.09 $1,366.52 $0.00 $1,352.12 $241,855.73
124 $241,855.73 $1,366.52 $0.00 $1,367.49 $244,589.74
125 $244,589.74 $1,366.52 $0.00 $1,382.95 $247,339.21
126 $247,339.21 $1,366.52 $0.00 $1,398.49 $250,104.22
127 $250,104.22 $1,366.52 $0.00 $1,414.13 $252,884.87
128 $252,884.87 $1,366.52 $0.00 $1,429.85 $255,681.24
129 $255,681.24 $1,366.52 $0.00 $1,445.66 $258,493.42
130 $258,493.42 $1,366.52 $0.00 $1,461.56 $261,321.50
131 $261,321.50 $1,366.52 $0.00 $1,477.55 $264,165.57
132 $264,165.57 $1,366.52 $0.00 $1,493.63 $267,025.72
133 $267,025.72 $1,366.52 $0.00 $1,509.80 $269,902.04
134 $269,902.04 $1,366.52 $0.00 $1,526.07 $272,794.63
135 $272,794.63 $1,366.52 $0.00 $1,542.42 $275,703.57
136 $275,703.57 $1,366.52 $0.00 $1,558.87 $278,628.96
137 $278,628.96 $1,366.52 $0.00 $1,575.41 $281,570.89
138 $281,570.89 $1,366.52 $0.00 $1,592.04 $284,529.45
139 $284,529.45 $1,366.52 $0.00 $1,608.77 $287,504.74
140 $287,504.74 $1,366.52 $0.00 $1,625.59 $290,496.85
141 $290,496.85 $1,366.52 $0.00 $1,642.51 $293,505.88
142 $293,505.88 $1,366.52 $0.00 $1,659.52 $296,531.92
143 $296,531.92 $1,366.52 $0.00 $1,676.63 $299,575.07
144 $299,575.07 $1,366.52 $0.00 $1,693.84 $302,635.43
145 $302,635.43 $1,366.52 $0.00 $1,711.14 $305,713.09
146 $305,713.09 $1,366.52 $0.00 $1,728.55 $308,808.16
147 $308,808.16 $1,366.52 $0.00 $1,746.05 $311,920.73
148 $311,920.73 $1,366.52 $0.00 $1,763.65 $315,050.90
149 $315,050.90 $1,366.52 $0.00 $1,781.34 $318,198.76
150 $318,198.76 $1,366.52 $0.00 $1,799.14 $321,364.42
151 $321,364.42 $1,366.52 $0.00 $1,817.04 $324,547.98
152 $324,547.98 $1,366.52 $0.00 $1,835.04 $327,749.54
153 $327,749.54 $1,366.52 $0.00 $1,853.14 $330,969.20
154 $330,969.20 $1,366.52 $0.00 $1,871.35 $334,207.07
155 $334,207.07 $1,366.52 $0.00 $1,889.66 $337,463.25
156 $337,463.25 $1,366.52 $0.00 $1,908.07 $340,737.84
157 $340,737.84 $1,366.52 $0.00 $1,926.58 $344,030.94
158 $344,030.94 $1,366.52 $0.00 $1,945.20 $347,342.66
159 $347,342.66 $1,366.52 $0.00 $1,963.93 $350,673.11
160 $350,673.11 $1,366.52 $0.00 $1,982.76 $354,022.39
161 $354,022.39 $1,366.52 $0.00 $2,001.69 $357,390.60
162 $357,390.60 $1,366.52 $0.00 $2,020.74 $360,777.86
163 $360,777.86 $1,366.52 $0.00 $2,039.89 $364,184.27
164 $364,184.27 $1,366.52 $0.00 $2,059.15 $367,609.94
165 $367,609.94 $1,366.52 $0.00 $2,078.52 $371,054.98
166 $371,054.98 $1,366.52 $0.00 $2,098.00 $374,519.50
167 $374,519.50 $1,366.52 $0.00 $2,117.59 $378,003.61
168 $378,003.61 $1,366.52 $0.00 $2,137.29 $381,507.42
169 $381,507.42 $1,366.52 $0.00 $2,157.10 $385,031.04
170 $385,031.04 $1,366.52 $0.00 $2,177.02 $388,574.58
171 $388,574.58 $1,366.52 $0.00 $2,197.06 $392,138.16
172 $392,138.16 $1,366.52 $0.00 $2,217.21 $395,721.89
173 $395,721.89 $1,366.52 $0.00 $2,237.47 $399,325.88
174 $399,325.88 $1,366.52 $0.00 $2,257.85 $402,950.25
175 $402,950.25 $1,366.52 $0.00 $2,278.34 $406,595.11
176 $406,595.11 $1,366.52 $0.00 $2,298.95 $410,260.58
177 $410,260.58 $1,366.52 $0.00 $2,319.67 $413,946.77
178 $413,946.77 $1,366.52 $0.00 $2,340.52 $417,653.81
179 $417,653.81 $1,366.52 $0.00 $2,361.48 $421,381.81
180 $421,381.81 $1,366.52 $0.00 $2,382.55 $425,130.88
181 $425,130.88 $1,366.52 $0.00 $2,403.75 $428,901.15
182 $428,901.15 $1,366.52 $0.00 $2,425.07 $432,692.74
183 $432,692.74 $1,366.52 $0.00 $2,446.51 $436,505.77
184 $436,505.77 $1,366.52 $0.00 $2,468.07 $440,340.36
185 $440,340.36 $1,366.52 $0.00 $2,489.75 $444,196.63
186 $444,196.63 $1,366.52 $0.00 $2,511.55 $448,074.70
187 $448,074.70 $1,366.52 $0.00 $2,533.48 $451,974.70
188 $451,974.70 $1,366.52 $0.00 $2,555.53 $455,896.75
189 $455,896.75 $1,366.52 $0.00 $2,577.71 $459,840.98
190 $459,840.98 $1,366.52 $0.00 $2,600.01 $463,807.51
191 $463,807.51 $1,366.52 $0.00 $2,622.44 $467,796.47
192 $467,796.47 $1,366.52 $0.00 $2,644.99 $471,807.98
193 $471,807.98 $1,366.52 $0.00 $2,667.67 $475,842.17
194 $475,842.17 $1,366.52 $0.00 $2,690.48 $479,899.17
195 $479,899.17 $1,366.52 $0.00 $2,713.42 $483,979.11
196 $483,979.11 $1,366.52 $0.00 $2,736.49 $488,082.12
197 $488,082.12 $1,366.52 $0.00 $2,759.69 $492,208.33
198 $492,208.33 $1,366.52 $0.00 $2,783.02 $496,357.87
199 $496,357.87 $1,366.52 $0.00 $2,806.48 $500,530.87
200 $500,530.87 $1,366.52 $0.00 $2,830.07 $504,727.46
201 $504,727.46 $1,366.52 $0.00 $2,853.80 $508,947.78
202 $508,947.78 $1,366.52 $0.00 $2,877.66 $513,191.96
203 $513,191.96 $1,366.52 $0.00 $2,901.66 $517,460.14
204 $517,460.14 $1,366.52 $0.00 $2,925.79 $521,752.45
205 $521,752.45 $1,366.52 $0.00 $2,950.06 $526,069.03
206 $526,069.03 $1,366.52 $0.00 $2,974.47 $530,410.02
207 $530,410.02 $1,366.52 $0.00 $2,999.02 $534,775.56
208 $534,775.56 $1,366.52 $0.00 $3,023.70 $539,165.78
209 $539,165.78 $1,366.52 $0.00 $3,048.52 $543,580.82
210 $543,580.82 $1,366.52 $0.00 $3,073.48 $548,020.82
211 $548,020.82 $1,366.52 $0.00 $3,098.59 $552,485.93
212 $552,485.93 $1,366.52 $0.00 $3,123.84 $556,976.29
213 $556,976.29 $1,366.52 $0.00 $3,149.22 $561,492.03
214 $561,492.03 $1,366.52 $0.00 $3,174.76 $566,033.31
215 $566,033.31 $1,366.52 $0.00 $3,200.43 $570,600.26
216 $570,600.26 $1,366.52 $0.00 $3,226.26 $575,193.04
217 $575,193.04 $1,366.52 $160,208.64 $3,252.23 $419,603.15
218 $419,603.15 $1,366.52 $0.00 $2,372.50 $423,342.17
219 $423,342.17 $1,366.52 $0.00 $2,393.64 $427,102.33
220 $427,102.33 $1,366.52 $0.00 $2,414.90 $430,883.75
221 $430,883.75 $1,366.52 $0.00 $2,436.28 $434,686.55
222 $434,686.55 $1,366.52 $0.00 $2,457.78 $438,510.85
223 $438,510.85 $1,366.52 $0.00 $2,479.40 $442,356.77
224 $442,356.77 $1,366.52 $0.00 $2,501.15 $446,224.44
225 $446,224.44 $1,366.52 $0.00 $2,523.02 $450,113.98
226 $450,113.98 $1,366.52 $0.00 $2,545.01 $454,025.51
227 $454,025.51 $1,366.52 $0.00 $2,567.13 $457,959.16
228 $457,959.16 $1,366.52 $0.00 $2,589.37 $461,915.05
229 $461,915.05 $1,366.52 $168,219.07 $2,611.73 $297,674.23
230 $297,674.23 $1,366.52 $0.00 $1,683.09 $300,723.84
231 $300,723.84 $1,366.52 $0.00 $1,700.34 $303,790.70
232 $303,790.70 $1,366.52 $0.00 $1,717.68 $306,874.90
233 $306,874.90 $1,366.52 $0.00 $1,735.12 $309,976.54
234 $309,976.54 $1,366.52 $0.00 $1,752.65 $313,095.71
235 $313,095.71 $1,366.52 $0.00 $1,770.29 $316,232.52
236 $316,232.52 $1,366.52 $0.00 $1,788.02 $319,387.06
237 $319,387.06 $1,366.52 $0.00 $1,805.86 $322,559.44
238 $322,559.44 $1,366.52 $0.00 $1,823.80 $325,749.76
239 $325,749.76 $1,366.52 $0.00 $1,841.84 $328,958.12
240 $328,958.12 $1,366.52 $0.00 $1,859.98 $332,184.62
241 $332,184.62 $1,366.52 $176,630.03 $1,878.22 $158,799.33
242 $158,799.33 $1,366.52 $0.00 $897.87 $161,063.72
243 $161,063.72 $1,366.52 $0.00 $910.68 $163,340.92
244 $163,340.92 $1,366.52 $0.00 $923.55 $165,630.99
245 $165,630.99 $1,366.52 $0.00 $936.50 $167,934.01
246 $167,934.01 $1,366.52 $0.00 $949.52 $170,250.05
247 $170,250.05 $1,366.52 $0.00 $962.62 $172,579.19
248 $172,579.19 $1,366.52 $0.00 $975.79 $174,921.50
249 $174,921.50 $1,366.52 $0.00 $989.03 $177,277.05
250 $177,277.05 $1,366.52 $0.00 $1,002.35 $179,645.92
251 $179,645.92 $1,366.52 $0.00 $1,015.74 $182,028.18
252 $182,028.18 $1,366.52 $0.00 $1,029.21 $184,423.91
253 $184,423.91 $0.00 $185,461.53 $1,042.76 $5.14