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 2040$168,170
Monthly savings required$1,331

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 $672,678.01 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,331.21 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$64,850.00
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 $1,331.21 $0.00 $0.00 $1,331.21
2 $1,331.21 $1,331.21 $0.00 $7.53 $2,669.95
3 $2,669.95 $1,331.21 $0.00 $15.10 $4,016.26
4 $4,016.26 $1,331.21 $0.00 $22.71 $5,370.18
5 $5,370.18 $1,331.21 $0.00 $30.36 $6,731.75
6 $6,731.75 $1,331.21 $0.00 $38.06 $8,101.02
7 $8,101.02 $1,331.21 $0.00 $45.80 $9,478.03
8 $9,478.03 $1,331.21 $0.00 $53.59 $10,862.83
9 $10,862.83 $1,331.21 $0.00 $61.42 $12,255.46
10 $12,255.46 $1,331.21 $0.00 $69.29 $13,655.96
11 $13,655.96 $1,331.21 $0.00 $77.21 $15,064.38
12 $15,064.38 $1,331.21 $0.00 $85.18 $16,480.77
13 $16,480.77 $1,331.21 $0.00 $93.18 $17,905.16
14 $17,905.16 $1,331.21 $0.00 $101.24 $19,337.61
15 $19,337.61 $1,331.21 $0.00 $109.34 $20,778.16
16 $20,778.16 $1,331.21 $0.00 $117.48 $22,226.85
17 $22,226.85 $1,331.21 $0.00 $125.67 $23,683.73
18 $23,683.73 $1,331.21 $0.00 $133.91 $25,148.85
19 $25,148.85 $1,331.21 $0.00 $142.20 $26,622.26
20 $26,622.26 $1,331.21 $0.00 $150.53 $28,104.00
21 $28,104.00 $1,331.21 $0.00 $158.90 $29,594.11
22 $29,594.11 $1,331.21 $0.00 $167.33 $31,092.65
23 $31,092.65 $1,331.21 $0.00 $175.80 $32,599.66
24 $32,599.66 $1,331.21 $0.00 $184.32 $34,115.19
25 $34,115.19 $1,331.21 $0.00 $192.89 $35,639.29
26 $35,639.29 $1,331.21 $0.00 $201.51 $37,172.01
27 $37,172.01 $1,331.21 $0.00 $210.18 $38,713.40
28 $38,713.40 $1,331.21 $0.00 $218.89 $40,263.50
29 $40,263.50 $1,331.21 $0.00 $227.66 $41,822.37
30 $41,822.37 $1,331.21 $0.00 $236.47 $43,390.05
31 $43,390.05 $1,331.21 $0.00 $245.33 $44,966.59
32 $44,966.59 $1,331.21 $0.00 $254.25 $46,552.05
33 $46,552.05 $1,331.21 $0.00 $263.21 $48,146.47
34 $48,146.47 $1,331.21 $0.00 $272.23 $49,749.91
35 $49,749.91 $1,331.21 $0.00 $281.29 $51,362.41
36 $51,362.41 $1,331.21 $0.00 $290.41 $52,984.03
37 $52,984.03 $1,331.21 $0.00 $299.58 $54,614.82
38 $54,614.82 $1,331.21 $0.00 $308.80 $56,254.83
39 $56,254.83 $1,331.21 $0.00 $318.07 $57,904.11
40 $57,904.11 $1,331.21 $0.00 $327.40 $59,562.72
41 $59,562.72 $1,331.21 $0.00 $336.78 $61,230.71
42 $61,230.71 $1,331.21 $0.00 $346.21 $62,908.13
43 $62,908.13 $1,331.21 $0.00 $355.69 $64,595.03
44 $64,595.03 $1,331.21 $0.00 $365.23 $66,291.47
45 $66,291.47 $1,331.21 $0.00 $374.82 $67,997.50
46 $67,997.50 $1,331.21 $0.00 $384.47 $69,713.18
47 $69,713.18 $1,331.21 $0.00 $394.17 $71,438.56
48 $71,438.56 $1,331.21 $0.00 $403.92 $73,173.69
49 $73,173.69 $1,331.21 $0.00 $413.73 $74,918.63
50 $74,918.63 $1,331.21 $0.00 $423.60 $76,673.44
51 $76,673.44 $1,331.21 $0.00 $433.52 $78,438.17
52 $78,438.17 $1,331.21 $0.00 $443.50 $80,212.88
53 $80,212.88 $1,331.21 $0.00 $453.54 $81,997.63
54 $81,997.63 $1,331.21 $0.00 $463.63 $83,792.47
55 $83,792.47 $1,331.21 $0.00 $473.77 $85,597.45
56 $85,597.45 $1,331.21 $0.00 $483.98 $87,412.64
57 $87,412.64 $1,331.21 $0.00 $494.24 $89,238.09
58 $89,238.09 $1,331.21 $0.00 $504.57 $91,073.87
59 $91,073.87 $1,331.21 $0.00 $514.94 $92,920.02
60 $92,920.02 $1,331.21 $0.00 $525.38 $94,776.61
61 $94,776.61 $1,331.21 $0.00 $535.88 $96,643.70
62 $96,643.70 $1,331.21 $0.00 $546.44 $98,521.35
63 $98,521.35 $1,331.21 $0.00 $557.05 $100,409.61
64 $100,409.61 $1,331.21 $0.00 $567.73 $102,308.55
65 $102,308.55 $1,331.21 $0.00 $578.47 $104,218.23
66 $104,218.23 $1,331.21 $0.00 $589.27 $106,138.71
67 $106,138.71 $1,331.21 $0.00 $600.12 $108,070.04
68 $108,070.04 $1,331.21 $0.00 $611.04 $110,012.29
69 $110,012.29 $1,331.21 $0.00 $622.03 $111,965.53
70 $111,965.53 $1,331.21 $0.00 $633.07 $113,929.81
71 $113,929.81 $1,331.21 $0.00 $644.18 $115,905.20
72 $115,905.20 $1,331.21 $0.00 $655.34 $117,891.75
73 $117,891.75 $1,331.21 $0.00 $666.58 $119,889.54
74 $119,889.54 $1,331.21 $0.00 $677.87 $121,898.62
75 $121,898.62 $1,331.21 $0.00 $689.23 $123,919.06
76 $123,919.06 $1,331.21 $0.00 $700.66 $125,950.93
77 $125,950.93 $1,331.21 $0.00 $712.14 $127,994.28
78 $127,994.28 $1,331.21 $0.00 $723.70 $130,049.19
79 $130,049.19 $1,331.21 $0.00 $735.32 $132,115.72
80 $132,115.72 $1,331.21 $0.00 $747.00 $134,193.93
81 $134,193.93 $1,331.21 $0.00 $758.75 $136,283.89
82 $136,283.89 $1,331.21 $0.00 $770.57 $138,385.67
83 $138,385.67 $1,331.21 $0.00 $782.45 $140,499.33
84 $140,499.33 $1,331.21 $0.00 $794.40 $142,624.94
85 $142,624.94 $1,331.21 $0.00 $806.42 $144,762.57
86 $144,762.57 $1,331.21 $0.00 $818.51 $146,912.29
87 $146,912.29 $1,331.21 $0.00 $830.66 $149,074.16
88 $149,074.16 $1,331.21 $0.00 $842.89 $151,248.26
89 $151,248.26 $1,331.21 $0.00 $855.18 $153,434.65
90 $153,434.65 $1,331.21 $0.00 $867.54 $155,633.40
91 $155,633.40 $1,331.21 $0.00 $879.97 $157,844.58
92 $157,844.58 $1,331.21 $0.00 $892.48 $160,068.27
93 $160,068.27 $1,331.21 $0.00 $905.05 $162,304.53
94 $162,304.53 $1,331.21 $0.00 $917.69 $164,553.43
95 $164,553.43 $1,331.21 $0.00 $930.41 $166,815.05
96 $166,815.05 $1,331.21 $0.00 $943.20 $169,089.46
97 $169,089.46 $1,331.21 $0.00 $956.06 $171,376.73
98 $171,376.73 $1,331.21 $0.00 $968.99 $173,676.93
99 $173,676.93 $1,331.21 $0.00 $981.99 $175,990.13
100 $175,990.13 $1,331.21 $0.00 $995.07 $178,316.41
101 $178,316.41 $1,331.21 $0.00 $1,008.23 $180,655.85
102 $180,655.85 $1,331.21 $0.00 $1,021.45 $183,008.51
103 $183,008.51 $1,331.21 $0.00 $1,034.76 $185,374.48
104 $185,374.48 $1,331.21 $0.00 $1,048.13 $187,753.82
105 $187,753.82 $1,331.21 $0.00 $1,061.59 $190,146.62
106 $190,146.62 $1,331.21 $0.00 $1,075.12 $192,552.95
107 $192,552.95 $1,331.21 $0.00 $1,088.72 $194,972.88
108 $194,972.88 $1,331.21 $0.00 $1,102.41 $197,406.50
109 $197,406.50 $1,331.21 $0.00 $1,116.17 $199,853.88
110 $199,853.88 $1,331.21 $0.00 $1,130.00 $202,315.09
111 $202,315.09 $1,331.21 $0.00 $1,143.92 $204,790.22
112 $204,790.22 $1,331.21 $0.00 $1,157.91 $207,279.34
113 $207,279.34 $1,331.21 $0.00 $1,171.99 $209,782.54
114 $209,782.54 $1,331.21 $0.00 $1,186.14 $212,299.89
115 $212,299.89 $1,331.21 $0.00 $1,200.37 $214,831.47
116 $214,831.47 $1,331.21 $0.00 $1,214.69 $217,377.37
117 $217,377.37 $1,331.21 $0.00 $1,229.08 $219,937.66
118 $219,937.66 $1,331.21 $0.00 $1,243.56 $222,512.43
119 $222,512.43 $1,331.21 $0.00 $1,258.12 $225,101.76
120 $225,101.76 $1,331.21 $0.00 $1,272.76 $227,705.73
121 $227,705.73 $1,331.21 $0.00 $1,287.48 $230,324.42
122 $230,324.42 $1,331.21 $0.00 $1,302.29 $232,957.92
123 $232,957.92 $1,331.21 $0.00 $1,317.18 $235,606.31
124 $235,606.31 $1,331.21 $0.00 $1,332.15 $238,269.67
125 $238,269.67 $1,331.21 $0.00 $1,347.21 $240,948.09
126 $240,948.09 $1,331.21 $0.00 $1,362.36 $243,641.66
127 $243,641.66 $1,331.21 $0.00 $1,377.59 $246,350.46
128 $246,350.46 $1,331.21 $0.00 $1,392.90 $249,074.57
129 $249,074.57 $1,331.21 $0.00 $1,408.30 $251,814.08
130 $251,814.08 $1,331.21 $0.00 $1,423.79 $254,569.08
131 $254,569.08 $1,331.21 $0.00 $1,439.37 $257,339.66
132 $257,339.66 $1,331.21 $0.00 $1,455.04 $260,125.91
133 $260,125.91 $1,331.21 $0.00 $1,470.79 $262,927.91
134 $262,927.91 $1,331.21 $0.00 $1,486.63 $265,745.75
135 $265,745.75 $1,331.21 $0.00 $1,502.57 $268,579.53
136 $268,579.53 $1,331.21 $0.00 $1,518.59 $271,429.33
137 $271,429.33 $1,331.21 $0.00 $1,534.70 $274,295.24
138 $274,295.24 $1,331.21 $0.00 $1,550.91 $277,177.36
139 $277,177.36 $1,331.21 $0.00 $1,567.20 $280,075.77
140 $280,075.77 $1,331.21 $0.00 $1,583.59 $282,990.57
141 $282,990.57 $1,331.21 $0.00 $1,600.07 $285,921.85
142 $285,921.85 $1,331.21 $0.00 $1,616.64 $288,869.70
143 $288,869.70 $1,331.21 $0.00 $1,633.31 $291,834.22
144 $291,834.22 $1,331.21 $0.00 $1,650.07 $294,815.50
145 $294,815.50 $1,331.21 $0.00 $1,666.93 $297,813.64
146 $297,813.64 $1,331.21 $0.00 $1,683.88 $300,828.73
147 $300,828.73 $1,331.21 $0.00 $1,700.93 $303,860.87
148 $303,860.87 $1,331.21 $0.00 $1,718.07 $306,910.15
149 $306,910.15 $1,331.21 $0.00 $1,735.31 $309,976.67
150 $309,976.67 $1,331.21 $0.00 $1,752.65 $313,060.53
151 $313,060.53 $1,331.21 $0.00 $1,770.09 $316,161.83
152 $316,161.83 $1,331.21 $0.00 $1,787.62 $319,280.66
153 $319,280.66 $1,331.21 $0.00 $1,805.26 $322,417.13
154 $322,417.13 $1,331.21 $0.00 $1,822.99 $325,571.33
155 $325,571.33 $1,331.21 $0.00 $1,840.83 $328,743.37
156 $328,743.37 $1,331.21 $0.00 $1,858.76 $331,933.34
157 $331,933.34 $1,331.21 $0.00 $1,876.80 $335,141.35
158 $335,141.35 $1,331.21 $0.00 $1,894.94 $338,367.50
159 $338,367.50 $1,331.21 $0.00 $1,913.18 $341,611.89
160 $341,611.89 $1,331.21 $0.00 $1,931.52 $344,874.62
161 $344,874.62 $1,331.21 $0.00 $1,949.97 $348,155.80
162 $348,155.80 $1,331.21 $0.00 $1,968.52 $351,455.53
163 $351,455.53 $1,331.21 $0.00 $1,987.18 $354,773.92
164 $354,773.92 $1,331.21 $0.00 $2,005.94 $358,111.07
165 $358,111.07 $1,331.21 $0.00 $2,024.81 $361,467.09
166 $361,467.09 $1,331.21 $0.00 $2,043.79 $364,842.09
167 $364,842.09 $1,331.21 $0.00 $2,062.87 $368,236.17
168 $368,236.17 $1,331.21 $0.00 $2,082.06 $371,649.44
169 $371,649.44 $1,331.21 $0.00 $2,101.36 $375,082.01
170 $375,082.01 $1,331.21 $0.00 $2,120.77 $378,533.99
171 $378,533.99 $1,331.21 $0.00 $2,140.29 $382,005.49
172 $382,005.49 $1,331.21 $0.00 $2,159.91 $385,496.61
173 $385,496.61 $1,331.21 $0.00 $2,179.65 $389,007.47
174 $389,007.47 $1,331.21 $0.00 $2,199.50 $392,538.18
175 $392,538.18 $1,331.21 $0.00 $2,219.47 $396,088.86
176 $396,088.86 $1,331.21 $0.00 $2,239.54 $399,659.61
177 $399,659.61 $1,331.21 $0.00 $2,259.73 $403,250.55
178 $403,250.55 $1,331.21 $0.00 $2,280.04 $406,861.80
179 $406,861.80 $1,331.21 $0.00 $2,300.46 $410,493.47
180 $410,493.47 $1,331.21 $0.00 $2,320.99 $414,145.67
181 $414,145.67 $1,331.21 $0.00 $2,341.64 $417,818.52
182 $417,818.52 $1,331.21 $0.00 $2,362.41 $421,512.14
183 $421,512.14 $1,331.21 $0.00 $2,383.29 $425,226.64
184 $425,226.64 $1,331.21 $0.00 $2,404.29 $428,962.14
185 $428,962.14 $1,331.21 $0.00 $2,425.41 $432,718.76
186 $432,718.76 $1,331.21 $0.00 $2,446.65 $436,496.62
187 $436,496.62 $1,331.21 $0.00 $2,468.02 $440,295.85
188 $440,295.85 $1,331.21 $0.00 $2,489.50 $444,116.56
189 $444,116.56 $1,331.21 $0.00 $2,511.10 $447,958.87
190 $447,958.87 $1,331.21 $0.00 $2,532.82 $451,822.90
191 $451,822.90 $1,331.21 $0.00 $2,554.67 $455,708.78
192 $455,708.78 $1,331.21 $0.00 $2,576.64 $459,616.63
193 $459,616.63 $1,331.21 $0.00 $2,598.74 $463,546.58
194 $463,546.58 $1,331.21 $0.00 $2,620.96 $467,498.75
195 $467,498.75 $1,331.21 $0.00 $2,643.31 $471,473.27
196 $471,473.27 $1,331.21 $0.00 $2,665.78 $475,470.26
197 $475,470.26 $1,331.21 $0.00 $2,688.38 $479,489.85
198 $479,489.85 $1,331.21 $0.00 $2,711.11 $483,532.17
199 $483,532.17 $1,331.21 $0.00 $2,733.96 $487,597.34
200 $487,597.34 $1,331.21 $0.00 $2,756.95 $491,685.50
201 $491,685.50 $1,331.21 $0.00 $2,780.06 $495,796.77
202 $495,796.77 $1,331.21 $0.00 $2,803.31 $499,931.29
203 $499,931.29 $1,331.21 $0.00 $2,826.68 $504,089.18
204 $504,089.18 $1,331.21 $0.00 $2,850.19 $508,270.58
205 $508,270.58 $1,331.21 $0.00 $2,873.84 $512,475.63
206 $512,475.63 $1,331.21 $0.00 $2,897.61 $516,704.45
207 $516,704.45 $1,331.21 $0.00 $2,921.52 $520,957.18
208 $520,957.18 $1,331.21 $0.00 $2,945.57 $525,233.96
209 $525,233.96 $1,331.21 $0.00 $2,969.75 $529,534.92
210 $529,534.92 $1,331.21 $0.00 $2,994.07 $533,860.20
211 $533,860.20 $1,331.21 $0.00 $3,018.52 $538,209.93
212 $538,209.93 $1,331.21 $0.00 $3,043.12 $542,584.26
213 $542,584.26 $1,331.21 $0.00 $3,067.85 $546,983.32
214 $546,983.32 $1,331.21 $0.00 $3,092.72 $551,407.25
215 $551,407.25 $1,331.21 $0.00 $3,117.74 $555,856.20
216 $555,856.20 $1,331.21 $0.00 $3,142.89 $560,330.30
217 $560,330.30 $1,331.21 $156,069.26 $3,168.19 $408,760.44
218 $408,760.44 $1,331.21 $0.00 $2,311.19 $412,402.84
219 $412,402.84 $1,331.21 $0.00 $2,331.79 $416,065.84
220 $416,065.84 $1,331.21 $0.00 $2,352.50 $419,749.55
221 $419,749.55 $1,331.21 $0.00 $2,373.32 $423,454.08
222 $423,454.08 $1,331.21 $0.00 $2,394.27 $427,179.56
223 $427,179.56 $1,331.21 $0.00 $2,415.34 $430,926.11
224 $430,926.11 $1,331.21 $0.00 $2,436.52 $434,693.84
225 $434,693.84 $1,331.21 $0.00 $2,457.82 $438,482.87
226 $438,482.87 $1,331.21 $0.00 $2,479.25 $442,293.33
227 $442,293.33 $1,331.21 $0.00 $2,500.79 $446,125.33
228 $446,125.33 $1,331.21 $0.00 $2,522.46 $449,979.00
229 $449,979.00 $1,331.21 $163,872.72 $2,544.25 $289,981.74
230 $289,981.74 $1,331.21 $0.00 $1,639.60 $292,952.55
231 $292,952.55 $1,331.21 $0.00 $1,656.40 $295,940.16
232 $295,940.16 $1,331.21 $0.00 $1,673.29 $298,944.66
233 $298,944.66 $1,331.21 $0.00 $1,690.28 $301,966.15
234 $301,966.15 $1,331.21 $0.00 $1,707.36 $305,004.72
235 $305,004.72 $1,331.21 $0.00 $1,724.54 $308,060.47
236 $308,060.47 $1,331.21 $0.00 $1,741.82 $311,133.50
237 $311,133.50 $1,331.21 $0.00 $1,759.19 $314,223.90
238 $314,223.90 $1,331.21 $0.00 $1,776.67 $317,331.78
239 $317,331.78 $1,331.21 $0.00 $1,794.24 $320,457.23
240 $320,457.23 $1,331.21 $0.00 $1,811.91 $323,600.35
241 $323,600.35 $1,331.21 $172,066.36 $1,829.68 $154,694.88
242 $154,694.88 $1,331.21 $0.00 $874.67 $156,900.76
243 $156,900.76 $1,331.21 $0.00 $887.14 $159,119.11
244 $159,119.11 $1,331.21 $0.00 $899.68 $161,350.00
245 $161,350.00 $1,331.21 $0.00 $912.30 $163,593.51
246 $163,593.51 $1,331.21 $0.00 $924.98 $165,849.70
247 $165,849.70 $1,331.21 $0.00 $937.74 $168,118.65
248 $168,118.65 $1,331.21 $0.00 $950.57 $170,400.43
249 $170,400.43 $1,331.21 $0.00 $963.47 $172,695.11
250 $172,695.11 $1,331.21 $0.00 $976.44 $175,002.76
251 $175,002.76 $1,331.21 $0.00 $989.49 $177,323.46
252 $177,323.46 $1,331.21 $0.00 $1,002.61 $179,657.28
253 $179,657.28 $0.00 $180,669.67 $1,015.81 $3.42