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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$69,586
Monthly savings required$551

How much will it cost to send your child to Virginia Tech in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $278,344.51 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $550.84 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$26,834.00
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 $550.84 $0.00 $0.00 $550.84
2 $550.84 $550.84 $0.00 $3.11 $1,104.79
3 $1,104.79 $550.84 $0.00 $6.25 $1,661.88
4 $1,661.88 $550.84 $0.00 $9.40 $2,222.12
5 $2,222.12 $550.84 $0.00 $12.56 $2,785.52
6 $2,785.52 $550.84 $0.00 $15.75 $3,352.11
7 $3,352.11 $550.84 $0.00 $18.95 $3,921.90
8 $3,921.90 $550.84 $0.00 $22.17 $4,494.91
9 $4,494.91 $550.84 $0.00 $25.41 $5,071.16
10 $5,071.16 $550.84 $0.00 $28.67 $5,650.67
11 $5,650.67 $550.84 $0.00 $31.95 $6,233.46
12 $6,233.46 $550.84 $0.00 $35.24 $6,819.54
13 $6,819.54 $550.84 $0.00 $38.56 $7,408.94
14 $7,408.94 $550.84 $0.00 $41.89 $8,001.67
15 $8,001.67 $550.84 $0.00 $45.24 $8,597.75
16 $8,597.75 $550.84 $0.00 $48.61 $9,197.20
17 $9,197.20 $550.84 $0.00 $52.00 $9,800.04
18 $9,800.04 $550.84 $0.00 $55.41 $10,406.29
19 $10,406.29 $550.84 $0.00 $58.84 $11,015.97
20 $11,015.97 $550.84 $0.00 $62.29 $11,629.10
21 $11,629.10 $550.84 $0.00 $65.75 $12,245.69
22 $12,245.69 $550.84 $0.00 $69.24 $12,865.77
23 $12,865.77 $550.84 $0.00 $72.74 $13,489.35
24 $13,489.35 $550.84 $0.00 $76.27 $14,116.46
25 $14,116.46 $550.84 $0.00 $79.82 $14,747.12
26 $14,747.12 $550.84 $0.00 $83.38 $15,381.34
27 $15,381.34 $550.84 $0.00 $86.97 $16,019.15
28 $16,019.15 $550.84 $0.00 $90.57 $16,660.56
29 $16,660.56 $550.84 $0.00 $94.20 $17,305.60
30 $17,305.60 $550.84 $0.00 $97.85 $17,954.29
31 $17,954.29 $550.84 $0.00 $101.52 $18,606.65
32 $18,606.65 $550.84 $0.00 $105.20 $19,262.69
33 $19,262.69 $550.84 $0.00 $108.91 $19,922.44
34 $19,922.44 $550.84 $0.00 $112.64 $20,585.92
35 $20,585.92 $550.84 $0.00 $116.40 $21,253.16
36 $21,253.16 $550.84 $0.00 $120.17 $21,924.17
37 $21,924.17 $550.84 $0.00 $123.96 $22,598.97
38 $22,598.97 $550.84 $0.00 $127.78 $23,277.59
39 $23,277.59 $550.84 $0.00 $131.61 $23,960.04
40 $23,960.04 $550.84 $0.00 $135.47 $24,646.35
41 $24,646.35 $550.84 $0.00 $139.35 $25,336.54
42 $25,336.54 $550.84 $0.00 $143.26 $26,030.64
43 $26,030.64 $550.84 $0.00 $147.18 $26,728.66
44 $26,728.66 $550.84 $0.00 $151.13 $27,430.63
45 $27,430.63 $550.84 $0.00 $155.10 $28,136.57
46 $28,136.57 $550.84 $0.00 $159.09 $28,846.50
47 $28,846.50 $550.84 $0.00 $163.10 $29,560.44
48 $29,560.44 $550.84 $0.00 $167.14 $30,278.42
49 $30,278.42 $550.84 $0.00 $171.20 $31,000.46
50 $31,000.46 $550.84 $0.00 $175.28 $31,726.58
51 $31,726.58 $550.84 $0.00 $179.39 $32,456.81
52 $32,456.81 $550.84 $0.00 $183.52 $33,191.17
53 $33,191.17 $550.84 $0.00 $187.67 $33,929.68
54 $33,929.68 $550.84 $0.00 $191.84 $34,672.36
55 $34,672.36 $550.84 $0.00 $196.04 $35,419.24
56 $35,419.24 $550.84 $0.00 $200.27 $36,170.35
57 $36,170.35 $550.84 $0.00 $204.51 $36,925.70
58 $36,925.70 $550.84 $0.00 $208.78 $37,685.32
59 $37,685.32 $550.84 $0.00 $213.08 $38,449.24
60 $38,449.24 $550.84 $0.00 $217.40 $39,217.48
61 $39,217.48 $550.84 $0.00 $221.74 $39,990.06
62 $39,990.06 $550.84 $0.00 $226.11 $40,767.01
63 $40,767.01 $550.84 $0.00 $230.50 $41,548.35
64 $41,548.35 $550.84 $0.00 $234.92 $42,334.11
65 $42,334.11 $550.84 $0.00 $239.36 $43,124.31
66 $43,124.31 $550.84 $0.00 $243.83 $43,918.98
67 $43,918.98 $550.84 $0.00 $248.32 $44,718.14
68 $44,718.14 $550.84 $0.00 $252.84 $45,521.82
69 $45,521.82 $550.84 $0.00 $257.39 $46,330.05
70 $46,330.05 $550.84 $0.00 $261.96 $47,142.85
71 $47,142.85 $550.84 $0.00 $266.55 $47,960.24
72 $47,960.24 $550.84 $0.00 $271.17 $48,782.25
73 $48,782.25 $550.84 $0.00 $275.82 $49,608.91
74 $49,608.91 $550.84 $0.00 $280.50 $50,440.25
75 $50,440.25 $550.84 $0.00 $285.20 $51,276.29
76 $51,276.29 $550.84 $0.00 $289.92 $52,117.05
77 $52,117.05 $550.84 $0.00 $294.68 $52,962.57
78 $52,962.57 $550.84 $0.00 $299.46 $53,812.87
79 $53,812.87 $550.84 $0.00 $304.27 $54,667.98
80 $54,667.98 $550.84 $0.00 $309.10 $55,527.92
81 $55,527.92 $550.84 $0.00 $313.96 $56,392.72
82 $56,392.72 $550.84 $0.00 $318.85 $57,262.41
83 $57,262.41 $550.84 $0.00 $323.77 $58,137.02
84 $58,137.02 $550.84 $0.00 $328.72 $59,016.58
85 $59,016.58 $550.84 $0.00 $333.69 $59,901.11
86 $59,901.11 $550.84 $0.00 $338.69 $60,790.64
87 $60,790.64 $550.84 $0.00 $343.72 $61,685.20
88 $61,685.20 $550.84 $0.00 $348.78 $62,584.82
89 $62,584.82 $550.84 $0.00 $353.86 $63,489.52
90 $63,489.52 $550.84 $0.00 $358.98 $64,399.34
91 $64,399.34 $550.84 $0.00 $364.12 $65,314.30
92 $65,314.30 $550.84 $0.00 $369.30 $66,234.44
93 $66,234.44 $550.84 $0.00 $374.50 $67,159.78
94 $67,159.78 $550.84 $0.00 $379.73 $68,090.35
95 $68,090.35 $550.84 $0.00 $384.99 $69,026.18
96 $69,026.18 $550.84 $0.00 $390.28 $69,967.30
97 $69,967.30 $550.84 $0.00 $395.61 $70,913.75
98 $70,913.75 $550.84 $0.00 $400.96 $71,865.55
99 $71,865.55 $550.84 $0.00 $406.34 $72,822.73
100 $72,822.73 $550.84 $0.00 $411.75 $73,785.32
101 $73,785.32 $550.84 $0.00 $417.19 $74,753.35
102 $74,753.35 $550.84 $0.00 $422.67 $75,726.86
103 $75,726.86 $550.84 $0.00 $428.17 $76,705.87
104 $76,705.87 $550.84 $0.00 $433.71 $77,690.42
105 $77,690.42 $550.84 $0.00 $439.27 $78,680.53
106 $78,680.53 $550.84 $0.00 $444.87 $79,676.24
107 $79,676.24 $550.84 $0.00 $450.50 $80,677.58
108 $80,677.58 $550.84 $0.00 $456.16 $81,684.58
109 $81,684.58 $550.84 $0.00 $461.86 $82,697.28
110 $82,697.28 $550.84 $0.00 $467.58 $83,715.70
111 $83,715.70 $550.84 $0.00 $473.34 $84,739.88
112 $84,739.88 $550.84 $0.00 $479.13 $85,769.85
113 $85,769.85 $550.84 $0.00 $484.96 $86,805.65
114 $86,805.65 $550.84 $0.00 $490.81 $87,847.30
115 $87,847.30 $550.84 $0.00 $496.70 $88,894.84
116 $88,894.84 $550.84 $0.00 $502.62 $89,948.30
117 $89,948.30 $550.84 $0.00 $508.58 $91,007.72
118 $91,007.72 $550.84 $0.00 $514.57 $92,073.13
119 $92,073.13 $550.84 $0.00 $520.59 $93,144.56
120 $93,144.56 $550.84 $0.00 $526.65 $94,222.05
121 $94,222.05 $550.84 $0.00 $532.75 $95,305.64
122 $95,305.64 $550.84 $0.00 $538.87 $96,395.35
123 $96,395.35 $550.84 $0.00 $545.03 $97,491.22
124 $97,491.22 $550.84 $0.00 $551.23 $98,593.29
125 $98,593.29 $550.84 $0.00 $557.46 $99,701.59
126 $99,701.59 $550.84 $0.00 $563.73 $100,816.16
127 $100,816.16 $550.84 $0.00 $570.03 $101,937.03
128 $101,937.03 $550.84 $0.00 $576.37 $103,064.24
129 $103,064.24 $550.84 $0.00 $582.74 $104,197.82
130 $104,197.82 $550.84 $0.00 $589.15 $105,337.81
131 $105,337.81 $550.84 $0.00 $595.60 $106,484.25
132 $106,484.25 $550.84 $0.00 $602.08 $107,637.17
133 $107,637.17 $550.84 $0.00 $608.60 $108,796.61
134 $108,796.61 $550.84 $0.00 $615.15 $109,962.60
135 $109,962.60 $550.84 $0.00 $621.74 $111,135.18
136 $111,135.18 $550.84 $0.00 $628.37 $112,314.39
137 $112,314.39 $550.84 $0.00 $635.04 $113,500.27
138 $113,500.27 $550.84 $0.00 $641.75 $114,692.86
139 $114,692.86 $550.84 $0.00 $648.49 $115,892.19
140 $115,892.19 $550.84 $0.00 $655.27 $117,098.30
141 $117,098.30 $550.84 $0.00 $662.09 $118,311.23
142 $118,311.23 $550.84 $0.00 $668.95 $119,531.02
143 $119,531.02 $550.84 $0.00 $675.85 $120,757.71
144 $120,757.71 $550.84 $0.00 $682.78 $121,991.33
145 $121,991.33 $550.84 $0.00 $689.76 $123,231.93
146 $123,231.93 $550.84 $0.00 $696.77 $124,479.54
147 $124,479.54 $550.84 $0.00 $703.83 $125,734.21
148 $125,734.21 $550.84 $0.00 $710.92 $126,995.97
149 $126,995.97 $550.84 $0.00 $718.05 $128,264.86
150 $128,264.86 $550.84 $0.00 $725.23 $129,540.93
151 $129,540.93 $550.84 $0.00 $732.44 $130,824.21
152 $130,824.21 $550.84 $0.00 $739.70 $132,114.75
153 $132,114.75 $550.84 $0.00 $747.00 $133,412.59
154 $133,412.59 $550.84 $0.00 $754.33 $134,717.76
155 $134,717.76 $550.84 $0.00 $761.71 $136,030.31
156 $136,030.31 $550.84 $0.00 $769.14 $137,350.29
157 $137,350.29 $550.84 $0.00 $776.60 $138,677.73
158 $138,677.73 $550.84 $0.00 $784.10 $140,012.67
159 $140,012.67 $550.84 $0.00 $791.65 $141,355.16
160 $141,355.16 $550.84 $0.00 $799.24 $142,705.24
161 $142,705.24 $550.84 $0.00 $806.88 $144,062.96
162 $144,062.96 $550.84 $0.00 $814.55 $145,428.35
163 $145,428.35 $550.84 $0.00 $822.27 $146,801.46
164 $146,801.46 $550.84 $0.00 $830.04 $148,182.34
165 $148,182.34 $550.84 $0.00 $837.84 $149,571.02
166 $149,571.02 $550.84 $0.00 $845.70 $150,967.56
167 $150,967.56 $550.84 $0.00 $853.59 $152,371.99
168 $152,371.99 $550.84 $0.00 $861.53 $153,784.36
169 $153,784.36 $550.84 $0.00 $869.52 $155,204.72
170 $155,204.72 $550.84 $0.00 $877.55 $156,633.11
171 $156,633.11 $550.84 $0.00 $885.63 $158,069.58
172 $158,069.58 $550.84 $0.00 $893.75 $159,514.17
173 $159,514.17 $550.84 $0.00 $901.92 $160,966.93
174 $160,966.93 $550.84 $0.00 $910.13 $162,427.90
175 $162,427.90 $550.84 $0.00 $918.39 $163,897.13
176 $163,897.13 $550.84 $0.00 $926.70 $165,374.67
177 $165,374.67 $550.84 $0.00 $935.05 $166,860.56
178 $166,860.56 $550.84 $0.00 $943.45 $168,354.85
179 $168,354.85 $550.84 $0.00 $951.90 $169,857.59
180 $169,857.59 $550.84 $0.00 $960.40 $171,368.83
181 $171,368.83 $550.84 $0.00 $968.94 $172,888.61
182 $172,888.61 $550.84 $0.00 $977.54 $174,416.99
183 $174,416.99 $550.84 $0.00 $986.18 $175,954.01
184 $175,954.01 $550.84 $0.00 $994.87 $177,499.72
185 $177,499.72 $550.84 $0.00 $1,003.61 $179,054.17
186 $179,054.17 $550.84 $0.00 $1,012.40 $180,617.41
187 $180,617.41 $550.84 $0.00 $1,021.24 $182,189.49
188 $182,189.49 $550.84 $0.00 $1,030.13 $183,770.46
189 $183,770.46 $550.84 $0.00 $1,039.06 $185,360.36
190 $185,360.36 $550.84 $0.00 $1,048.05 $186,959.25
191 $186,959.25 $550.84 $0.00 $1,057.09 $188,567.18
192 $188,567.18 $550.84 $0.00 $1,066.19 $190,184.21
193 $190,184.21 $550.84 $0.00 $1,075.33 $191,810.38
194 $191,810.38 $550.84 $0.00 $1,084.52 $193,445.74
195 $193,445.74 $550.84 $0.00 $1,093.77 $195,090.35
196 $195,090.35 $550.84 $0.00 $1,103.07 $196,744.26
197 $196,744.26 $550.84 $0.00 $1,112.42 $198,407.52
198 $198,407.52 $550.84 $0.00 $1,121.82 $200,080.18
199 $200,080.18 $550.84 $0.00 $1,131.28 $201,762.30
200 $201,762.30 $550.84 $0.00 $1,140.79 $203,453.93
201 $203,453.93 $550.84 $0.00 $1,150.36 $205,155.13
202 $205,155.13 $550.84 $0.00 $1,159.98 $206,865.95
203 $206,865.95 $550.84 $0.00 $1,169.65 $208,586.44
204 $208,586.44 $550.84 $0.00 $1,179.38 $210,316.66
205 $210,316.66 $550.84 $0.00 $1,189.16 $212,056.66
206 $212,056.66 $550.84 $0.00 $1,199.00 $213,806.50
207 $213,806.50 $550.84 $0.00 $1,208.89 $215,566.23
208 $215,566.23 $550.84 $0.00 $1,218.84 $217,335.91
209 $217,335.91 $550.84 $0.00 $1,228.85 $219,115.60
210 $219,115.60 $550.84 $0.00 $1,238.91 $220,905.35
211 $220,905.35 $550.84 $0.00 $1,249.03 $222,705.22
212 $222,705.22 $550.84 $0.00 $1,259.21 $224,515.27
213 $224,515.27 $550.84 $0.00 $1,269.44 $226,335.55
214 $226,335.55 $550.84 $0.00 $1,279.73 $228,166.12
215 $228,166.12 $550.84 $0.00 $1,290.08 $230,007.04
216 $230,007.04 $550.84 $0.00 $1,300.49 $231,858.37
217 $231,858.37 $550.84 $64,579.22 $1,310.96 $169,140.95
218 $169,140.95 $550.84 $0.00 $956.35 $170,648.14
219 $170,648.14 $550.84 $0.00 $964.87 $172,163.85
220 $172,163.85 $550.84 $0.00 $973.44 $173,688.13
221 $173,688.13 $550.84 $0.00 $982.06 $175,221.03
222 $175,221.03 $550.84 $0.00 $990.73 $176,762.60
223 $176,762.60 $550.84 $0.00 $999.44 $178,312.88
224 $178,312.88 $550.84 $0.00 $1,008.21 $179,871.93
225 $179,871.93 $550.84 $0.00 $1,017.02 $181,439.79
226 $181,439.79 $550.84 $0.00 $1,025.89 $183,016.52
227 $183,016.52 $550.84 $0.00 $1,034.80 $184,602.16
228 $184,602.16 $550.84 $0.00 $1,043.77 $186,196.77
229 $186,196.77 $550.84 $67,808.18 $1,052.78 $119,992.21
230 $119,992.21 $550.84 $0.00 $678.45 $121,221.50
231 $121,221.50 $550.84 $0.00 $685.40 $122,457.74
232 $122,457.74 $550.84 $0.00 $692.39 $123,700.97
233 $123,700.97 $550.84 $0.00 $699.42 $124,951.23
234 $124,951.23 $550.84 $0.00 $706.49 $126,208.56
235 $126,208.56 $550.84 $0.00 $713.60 $127,473.00
236 $127,473.00 $550.84 $0.00 $720.75 $128,744.59
237 $128,744.59 $550.84 $0.00 $727.94 $130,023.37
238 $130,023.37 $550.84 $0.00 $735.17 $131,309.38
239 $131,309.38 $550.84 $0.00 $742.44 $132,602.66
240 $132,602.66 $550.84 $0.00 $749.75 $133,903.25
241 $133,903.25 $550.84 $71,198.59 $757.11 $64,012.61
242 $64,012.61 $550.84 $0.00 $361.94 $64,925.39
243 $64,925.39 $550.84 $0.00 $367.10 $65,843.33
244 $65,843.33 $550.84 $0.00 $372.29 $66,766.46
245 $66,766.46 $550.84 $0.00 $377.51 $67,694.81
246 $67,694.81 $550.84 $0.00 $382.76 $68,628.41
247 $68,628.41 $550.84 $0.00 $388.04 $69,567.29
248 $69,567.29 $550.84 $0.00 $393.34 $70,511.47
249 $70,511.47 $550.84 $0.00 $398.68 $71,460.99
250 $71,460.99 $550.84 $0.00 $404.05 $72,415.88
251 $72,415.88 $550.84 $0.00 $409.45 $73,376.17
252 $73,376.17 $550.84 $0.00 $414.88 $74,341.89
253 $74,341.89 $0.00 $74,758.52 $420.34 $3.71