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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$63,783
Monthly savings required$505

How much will it cost to send your child to The University of Virginia's College at Wise in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $255,130.12 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $504.89 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$24,596.00
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 $504.89 $0.00 $0.00 $504.89
2 $504.89 $504.89 $0.00 $2.85 $1,012.63
3 $1,012.63 $504.89 $0.00 $5.73 $1,523.25
4 $1,523.25 $504.89 $0.00 $8.61 $2,036.75
5 $2,036.75 $504.89 $0.00 $11.52 $2,553.16
6 $2,553.16 $504.89 $0.00 $14.44 $3,072.49
7 $3,072.49 $504.89 $0.00 $17.37 $3,594.75
8 $3,594.75 $504.89 $0.00 $20.33 $4,119.97
9 $4,119.97 $504.89 $0.00 $23.29 $4,648.15
10 $4,648.15 $504.89 $0.00 $26.28 $5,179.32
11 $5,179.32 $504.89 $0.00 $29.28 $5,713.49
12 $5,713.49 $504.89 $0.00 $32.30 $6,250.68
13 $6,250.68 $504.89 $0.00 $35.34 $6,790.91
14 $6,790.91 $504.89 $0.00 $38.40 $7,334.20
15 $7,334.20 $504.89 $0.00 $41.47 $7,880.56
16 $7,880.56 $504.89 $0.00 $44.56 $8,430.01
17 $8,430.01 $504.89 $0.00 $47.66 $8,982.56
18 $8,982.56 $504.89 $0.00 $50.79 $9,538.24
19 $9,538.24 $504.89 $0.00 $53.93 $10,097.06
20 $10,097.06 $504.89 $0.00 $57.09 $10,659.04
21 $10,659.04 $504.89 $0.00 $60.27 $11,224.20
22 $11,224.20 $504.89 $0.00 $63.46 $11,792.55
23 $11,792.55 $504.89 $0.00 $66.68 $12,364.12
24 $12,364.12 $504.89 $0.00 $69.91 $12,938.92
25 $12,938.92 $504.89 $0.00 $73.16 $13,516.97
26 $13,516.97 $504.89 $0.00 $76.43 $14,098.29
27 $14,098.29 $504.89 $0.00 $79.71 $14,682.89
28 $14,682.89 $504.89 $0.00 $83.02 $15,270.80
29 $15,270.80 $504.89 $0.00 $86.34 $15,862.03
30 $15,862.03 $504.89 $0.00 $89.69 $16,456.61
31 $16,456.61 $504.89 $0.00 $93.05 $17,054.55
32 $17,054.55 $504.89 $0.00 $96.43 $17,655.87
33 $17,655.87 $504.89 $0.00 $99.83 $18,260.59
34 $18,260.59 $504.89 $0.00 $103.25 $18,868.73
35 $18,868.73 $504.89 $0.00 $106.69 $19,480.31
36 $19,480.31 $504.89 $0.00 $110.14 $20,095.34
37 $20,095.34 $504.89 $0.00 $113.62 $20,713.85
38 $20,713.85 $504.89 $0.00 $117.12 $21,335.86
39 $21,335.86 $504.89 $0.00 $120.64 $21,961.39
40 $21,961.39 $504.89 $0.00 $124.17 $22,590.45
41 $22,590.45 $504.89 $0.00 $127.73 $23,223.07
42 $23,223.07 $504.89 $0.00 $131.31 $23,859.27
43 $23,859.27 $504.89 $0.00 $134.90 $24,499.06
44 $24,499.06 $504.89 $0.00 $138.52 $25,142.47
45 $25,142.47 $504.89 $0.00 $142.16 $25,789.52
46 $25,789.52 $504.89 $0.00 $145.82 $26,440.23
47 $26,440.23 $504.89 $0.00 $149.50 $27,094.62
48 $27,094.62 $504.89 $0.00 $153.20 $27,752.71
49 $27,752.71 $504.89 $0.00 $156.92 $28,414.52
50 $28,414.52 $504.89 $0.00 $160.66 $29,080.07
51 $29,080.07 $504.89 $0.00 $164.42 $29,749.38
52 $29,749.38 $504.89 $0.00 $168.21 $30,422.48
53 $30,422.48 $504.89 $0.00 $172.01 $31,099.38
54 $31,099.38 $504.89 $0.00 $175.84 $31,780.11
55 $31,780.11 $504.89 $0.00 $179.69 $32,464.69
56 $32,464.69 $504.89 $0.00 $183.56 $33,153.14
57 $33,153.14 $504.89 $0.00 $187.45 $33,845.48
58 $33,845.48 $504.89 $0.00 $191.37 $34,541.74
59 $34,541.74 $504.89 $0.00 $195.30 $35,241.93
60 $35,241.93 $504.89 $0.00 $199.26 $35,946.08
61 $35,946.08 $504.89 $0.00 $203.24 $36,654.21
62 $36,654.21 $504.89 $0.00 $207.25 $37,366.35
63 $37,366.35 $504.89 $0.00 $211.27 $38,082.51
64 $38,082.51 $504.89 $0.00 $215.32 $38,802.72
65 $38,802.72 $504.89 $0.00 $219.40 $39,527.01
66 $39,527.01 $504.89 $0.00 $223.49 $40,255.39
67 $40,255.39 $504.89 $0.00 $227.61 $40,987.89
68 $40,987.89 $504.89 $0.00 $231.75 $41,724.53
69 $41,724.53 $504.89 $0.00 $235.92 $42,465.34
70 $42,465.34 $504.89 $0.00 $240.11 $43,210.34
71 $43,210.34 $504.89 $0.00 $244.32 $43,959.55
72 $43,959.55 $504.89 $0.00 $248.55 $44,712.99
73 $44,712.99 $504.89 $0.00 $252.81 $45,470.69
74 $45,470.69 $504.89 $0.00 $257.10 $46,232.68
75 $46,232.68 $504.89 $0.00 $261.41 $46,998.98
76 $46,998.98 $504.89 $0.00 $265.74 $47,769.61
77 $47,769.61 $504.89 $0.00 $270.10 $48,544.60
78 $48,544.60 $504.89 $0.00 $274.48 $49,323.97
79 $49,323.97 $504.89 $0.00 $278.88 $50,107.74
80 $50,107.74 $504.89 $0.00 $283.32 $50,895.95
81 $50,895.95 $504.89 $0.00 $287.77 $51,688.61
82 $51,688.61 $504.89 $0.00 $292.25 $52,485.75
83 $52,485.75 $504.89 $0.00 $296.76 $53,287.40
84 $53,287.40 $504.89 $0.00 $301.29 $54,093.58
85 $54,093.58 $504.89 $0.00 $305.85 $54,904.32
86 $54,904.32 $504.89 $0.00 $310.44 $55,719.65
87 $55,719.65 $504.89 $0.00 $315.05 $56,539.59
88 $56,539.59 $504.89 $0.00 $319.68 $57,364.16
89 $57,364.16 $504.89 $0.00 $324.35 $58,193.40
90 $58,193.40 $504.89 $0.00 $329.03 $59,027.32
91 $59,027.32 $504.89 $0.00 $333.75 $59,865.96
92 $59,865.96 $504.89 $0.00 $338.49 $60,709.34
93 $60,709.34 $504.89 $0.00 $343.26 $61,557.49
94 $61,557.49 $504.89 $0.00 $348.05 $62,410.43
95 $62,410.43 $504.89 $0.00 $352.88 $63,268.20
96 $63,268.20 $504.89 $0.00 $357.73 $64,130.82
97 $64,130.82 $504.89 $0.00 $362.60 $64,998.31
98 $64,998.31 $504.89 $0.00 $367.51 $65,870.71
99 $65,870.71 $504.89 $0.00 $372.44 $66,748.04
100 $66,748.04 $504.89 $0.00 $377.40 $67,630.33
101 $67,630.33 $504.89 $0.00 $382.39 $68,517.61
102 $68,517.61 $504.89 $0.00 $387.41 $69,409.91
103 $69,409.91 $504.89 $0.00 $392.45 $70,307.25
104 $70,307.25 $504.89 $0.00 $397.53 $71,209.67
105 $71,209.67 $504.89 $0.00 $402.63 $72,117.19
106 $72,117.19 $504.89 $0.00 $407.76 $73,029.84
107 $73,029.84 $504.89 $0.00 $412.92 $73,947.65
108 $73,947.65 $504.89 $0.00 $418.11 $74,870.65
109 $74,870.65 $504.89 $0.00 $423.33 $75,798.87
110 $75,798.87 $504.89 $0.00 $428.58 $76,732.34
111 $76,732.34 $504.89 $0.00 $433.86 $77,671.09
112 $77,671.09 $504.89 $0.00 $439.16 $78,615.14
113 $78,615.14 $504.89 $0.00 $444.50 $79,564.53
114 $79,564.53 $504.89 $0.00 $449.87 $80,519.29
115 $80,519.29 $504.89 $0.00 $455.27 $81,479.45
116 $81,479.45 $504.89 $0.00 $460.70 $82,445.04
117 $82,445.04 $504.89 $0.00 $466.16 $83,416.09
118 $83,416.09 $504.89 $0.00 $471.65 $84,392.63
119 $84,392.63 $504.89 $0.00 $477.17 $85,374.69
120 $85,374.69 $504.89 $0.00 $482.72 $86,362.30
121 $86,362.30 $504.89 $0.00 $488.31 $87,355.50
122 $87,355.50 $504.89 $0.00 $493.92 $88,354.31
123 $88,354.31 $504.89 $0.00 $499.57 $89,358.77
124 $89,358.77 $504.89 $0.00 $505.25 $90,368.91
125 $90,368.91 $504.89 $0.00 $510.96 $91,384.76
126 $91,384.76 $504.89 $0.00 $516.70 $92,406.35
127 $92,406.35 $504.89 $0.00 $522.48 $93,433.72
128 $93,433.72 $504.89 $0.00 $528.29 $94,466.90
129 $94,466.90 $504.89 $0.00 $534.13 $95,505.92
130 $95,505.92 $504.89 $0.00 $540.00 $96,550.81
131 $96,550.81 $504.89 $0.00 $545.91 $97,601.61
132 $97,601.61 $504.89 $0.00 $551.85 $98,658.35
133 $98,658.35 $504.89 $0.00 $557.83 $99,721.07
134 $99,721.07 $504.89 $0.00 $563.84 $100,789.80
135 $100,789.80 $504.89 $0.00 $569.88 $101,864.57
136 $101,864.57 $504.89 $0.00 $575.96 $102,945.42
137 $102,945.42 $504.89 $0.00 $582.07 $104,032.38
138 $104,032.38 $504.89 $0.00 $588.21 $105,125.48
139 $105,125.48 $504.89 $0.00 $594.39 $106,224.76
140 $106,224.76 $504.89 $0.00 $600.61 $107,330.26
141 $107,330.26 $504.89 $0.00 $606.86 $108,442.01
142 $108,442.01 $504.89 $0.00 $613.15 $109,560.05
143 $109,560.05 $504.89 $0.00 $619.47 $110,684.41
144 $110,684.41 $504.89 $0.00 $625.83 $111,815.13
145 $111,815.13 $504.89 $0.00 $632.22 $112,952.24
146 $112,952.24 $504.89 $0.00 $638.65 $114,095.78
147 $114,095.78 $504.89 $0.00 $645.11 $115,245.78
148 $115,245.78 $504.89 $0.00 $651.62 $116,402.29
149 $116,402.29 $504.89 $0.00 $658.16 $117,565.34
150 $117,565.34 $504.89 $0.00 $664.73 $118,734.96
151 $118,734.96 $504.89 $0.00 $671.34 $119,911.19
152 $119,911.19 $504.89 $0.00 $678.00 $121,094.08
153 $121,094.08 $504.89 $0.00 $684.68 $122,283.65
154 $122,283.65 $504.89 $0.00 $691.41 $123,479.95
155 $123,479.95 $504.89 $0.00 $698.17 $124,683.01
156 $124,683.01 $504.89 $0.00 $704.98 $125,892.88
157 $125,892.88 $504.89 $0.00 $711.82 $127,109.59
158 $127,109.59 $504.89 $0.00 $718.70 $128,333.18
159 $128,333.18 $504.89 $0.00 $725.61 $129,563.68
160 $129,563.68 $504.89 $0.00 $732.57 $130,801.14
161 $130,801.14 $504.89 $0.00 $739.57 $132,045.60
162 $132,045.60 $504.89 $0.00 $746.61 $133,297.10
163 $133,297.10 $504.89 $0.00 $753.68 $134,555.67
164 $134,555.67 $504.89 $0.00 $760.80 $135,821.36
165 $135,821.36 $504.89 $0.00 $767.95 $137,094.20
166 $137,094.20 $504.89 $0.00 $775.15 $138,374.24
167 $138,374.24 $504.89 $0.00 $782.39 $139,661.52
168 $139,661.52 $504.89 $0.00 $789.67 $140,956.08
169 $140,956.08 $504.89 $0.00 $796.99 $142,257.96
170 $142,257.96 $504.89 $0.00 $804.35 $143,567.20
171 $143,567.20 $504.89 $0.00 $811.75 $144,883.84
172 $144,883.84 $504.89 $0.00 $819.19 $146,207.92
173 $146,207.92 $504.89 $0.00 $826.68 $147,539.49
174 $147,539.49 $504.89 $0.00 $834.21 $148,878.59
175 $148,878.59 $504.89 $0.00 $841.78 $150,225.26
176 $150,225.26 $504.89 $0.00 $849.40 $151,579.55
177 $151,579.55 $504.89 $0.00 $857.05 $152,941.49
178 $152,941.49 $504.89 $0.00 $864.75 $154,311.13
179 $154,311.13 $504.89 $0.00 $872.50 $155,688.52
180 $155,688.52 $504.89 $0.00 $880.29 $157,073.70
181 $157,073.70 $504.89 $0.00 $888.12 $158,466.71
182 $158,466.71 $504.89 $0.00 $895.99 $159,867.59
183 $159,867.59 $504.89 $0.00 $903.91 $161,276.39
184 $161,276.39 $504.89 $0.00 $911.88 $162,693.16
185 $162,693.16 $504.89 $0.00 $919.89 $164,117.94
186 $164,117.94 $504.89 $0.00 $927.95 $165,550.78
187 $165,550.78 $504.89 $0.00 $936.05 $166,991.72
188 $166,991.72 $504.89 $0.00 $944.20 $168,440.81
189 $168,440.81 $504.89 $0.00 $952.39 $169,898.09
190 $169,898.09 $504.89 $0.00 $960.63 $171,363.61
191 $171,363.61 $504.89 $0.00 $968.91 $172,837.41
192 $172,837.41 $504.89 $0.00 $977.25 $174,319.55
193 $174,319.55 $504.89 $0.00 $985.63 $175,810.07
194 $175,810.07 $504.89 $0.00 $994.06 $177,309.02
195 $177,309.02 $504.89 $0.00 $1,002.53 $178,816.44
196 $178,816.44 $504.89 $0.00 $1,011.05 $180,332.38
197 $180,332.38 $504.89 $0.00 $1,019.63 $181,856.90
198 $181,856.90 $504.89 $0.00 $1,028.25 $183,390.04
199 $183,390.04 $504.89 $0.00 $1,036.91 $184,931.84
200 $184,931.84 $504.89 $0.00 $1,045.63 $186,482.36
201 $186,482.36 $504.89 $0.00 $1,054.40 $188,041.65
202 $188,041.65 $504.89 $0.00 $1,063.21 $189,609.75
203 $189,609.75 $504.89 $0.00 $1,072.08 $191,186.72
204 $191,186.72 $504.89 $0.00 $1,081.00 $192,772.61
205 $192,772.61 $504.89 $0.00 $1,089.96 $194,367.46
206 $194,367.46 $504.89 $0.00 $1,098.98 $195,971.33
207 $195,971.33 $504.89 $0.00 $1,108.05 $197,584.27
208 $197,584.27 $504.89 $0.00 $1,117.17 $199,206.33
209 $199,206.33 $504.89 $0.00 $1,126.34 $200,837.56
210 $200,837.56 $504.89 $0.00 $1,135.56 $202,478.01
211 $202,478.01 $504.89 $0.00 $1,144.84 $204,127.74
212 $204,127.74 $504.89 $0.00 $1,154.17 $205,786.80
213 $205,786.80 $504.89 $0.00 $1,163.55 $207,455.24
214 $207,455.24 $504.89 $0.00 $1,172.98 $209,133.11
215 $209,133.11 $504.89 $0.00 $1,182.47 $210,820.47
216 $210,820.47 $504.89 $0.00 $1,192.01 $212,517.37
217 $212,517.37 $504.89 $59,193.21 $1,201.60 $155,030.65
218 $155,030.65 $504.89 $0.00 $876.57 $156,412.11
219 $156,412.11 $504.89 $0.00 $884.38 $157,801.38
220 $157,801.38 $504.89 $0.00 $892.23 $159,198.50
221 $159,198.50 $504.89 $0.00 $900.13 $160,603.52
222 $160,603.52 $504.89 $0.00 $908.08 $162,016.49
223 $162,016.49 $504.89 $0.00 $916.06 $163,437.44
224 $163,437.44 $504.89 $0.00 $924.10 $164,866.43
225 $164,866.43 $504.89 $0.00 $932.18 $166,303.50
226 $166,303.50 $504.89 $0.00 $940.30 $167,748.69
227 $167,748.69 $504.89 $0.00 $948.48 $169,202.06
228 $169,202.06 $504.89 $0.00 $956.69 $170,663.64
229 $170,663.64 $504.89 $62,152.87 $964.96 $109,980.62
230 $109,980.62 $504.89 $0.00 $621.85 $111,107.36
231 $111,107.36 $504.89 $0.00 $628.22 $112,240.47
232 $112,240.47 $504.89 $0.00 $634.62 $113,379.98
233 $113,379.98 $504.89 $0.00 $641.07 $114,525.94
234 $114,525.94 $504.89 $0.00 $647.55 $115,678.38
235 $115,678.38 $504.89 $0.00 $654.06 $116,837.33
236 $116,837.33 $504.89 $0.00 $660.62 $118,002.84
237 $118,002.84 $504.89 $0.00 $667.21 $119,174.94
238 $119,174.94 $504.89 $0.00 $673.83 $120,353.66
239 $120,353.66 $504.89 $0.00 $680.50 $121,539.05
240 $121,539.05 $504.89 $0.00 $687.20 $122,731.14
241 $122,731.14 $504.89 $65,260.51 $693.94 $58,669.46
242 $58,669.46 $504.89 $0.00 $331.73 $59,506.08
243 $59,506.08 $504.89 $0.00 $336.46 $60,347.43
244 $60,347.43 $504.89 $0.00 $341.21 $61,193.53
245 $61,193.53 $504.89 $0.00 $346.00 $62,044.42
246 $62,044.42 $504.89 $0.00 $350.81 $62,900.12
247 $62,900.12 $504.89 $0.00 $355.65 $63,760.66
248 $63,760.66 $504.89 $0.00 $360.51 $64,626.06
249 $64,626.06 $504.89 $0.00 $365.41 $65,496.36
250 $65,496.36 $504.89 $0.00 $370.33 $66,371.58
251 $66,371.58 $504.89 $0.00 $375.27 $67,251.74
252 $67,251.74 $504.89 $0.00 $380.25 $68,136.88
253 $68,136.88 $0.00 $68,523.54 $385.26 ($1.40)