Savings Plan and Future Cost Estimation for Virginia Tech

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2041$74,254
Monthly savings required$588

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 $297,015.61 for students enrolling in 2041 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $587.78 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$28,634.00
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 $587.78 $0.00 $0.00 $587.78
2 $587.78 $587.78 $0.00 $3.32 $1,178.88
3 $1,178.88 $587.78 $0.00 $6.67 $1,773.33
4 $1,773.33 $587.78 $0.00 $10.03 $2,371.14
5 $2,371.14 $587.78 $0.00 $13.41 $2,972.33
6 $2,972.33 $587.78 $0.00 $16.81 $3,576.92
7 $3,576.92 $587.78 $0.00 $20.22 $4,184.92
8 $4,184.92 $587.78 $0.00 $23.66 $4,796.36
9 $4,796.36 $587.78 $0.00 $27.12 $5,411.26
10 $5,411.26 $587.78 $0.00 $30.60 $6,029.64
11 $6,029.64 $587.78 $0.00 $34.09 $6,651.51
12 $6,651.51 $587.78 $0.00 $37.61 $7,276.90
13 $7,276.90 $587.78 $0.00 $41.14 $7,905.82
14 $7,905.82 $587.78 $0.00 $44.70 $8,538.30
15 $8,538.30 $587.78 $0.00 $48.28 $9,174.36
16 $9,174.36 $587.78 $0.00 $51.87 $9,814.01
17 $9,814.01 $587.78 $0.00 $55.49 $10,457.28
18 $10,457.28 $587.78 $0.00 $59.13 $11,104.19
19 $11,104.19 $587.78 $0.00 $62.78 $11,754.75
20 $11,754.75 $587.78 $0.00 $66.46 $12,408.99
21 $12,408.99 $587.78 $0.00 $70.16 $13,066.93
22 $13,066.93 $587.78 $0.00 $73.88 $13,728.59
23 $13,728.59 $587.78 $0.00 $77.62 $14,393.99
24 $14,393.99 $587.78 $0.00 $81.39 $15,063.16
25 $15,063.16 $587.78 $0.00 $85.17 $15,736.11
26 $15,736.11 $587.78 $0.00 $88.97 $16,412.86
27 $16,412.86 $587.78 $0.00 $92.80 $17,093.44
28 $17,093.44 $587.78 $0.00 $96.65 $17,777.87
29 $17,777.87 $587.78 $0.00 $100.52 $18,466.17
30 $18,466.17 $587.78 $0.00 $104.41 $19,158.36
31 $19,158.36 $587.78 $0.00 $108.32 $19,854.46
32 $19,854.46 $587.78 $0.00 $112.26 $20,554.50
33 $20,554.50 $587.78 $0.00 $116.22 $21,258.50
34 $21,258.50 $587.78 $0.00 $120.20 $21,966.48
35 $21,966.48 $587.78 $0.00 $124.20 $22,678.46
36 $22,678.46 $587.78 $0.00 $128.23 $23,394.47
37 $23,394.47 $587.78 $0.00 $132.28 $24,114.53
38 $24,114.53 $587.78 $0.00 $136.35 $24,838.66
39 $24,838.66 $587.78 $0.00 $140.44 $25,566.88
40 $25,566.88 $587.78 $0.00 $144.56 $26,299.22
41 $26,299.22 $587.78 $0.00 $148.70 $27,035.70
42 $27,035.70 $587.78 $0.00 $152.86 $27,776.34
43 $27,776.34 $587.78 $0.00 $157.05 $28,521.17
44 $28,521.17 $587.78 $0.00 $161.26 $29,270.21
45 $29,270.21 $587.78 $0.00 $165.50 $30,023.49
46 $30,023.49 $587.78 $0.00 $169.76 $30,781.03
47 $30,781.03 $587.78 $0.00 $174.04 $31,542.85
48 $31,542.85 $587.78 $0.00 $178.35 $32,308.98
49 $32,308.98 $587.78 $0.00 $182.68 $33,079.44
50 $33,079.44 $587.78 $0.00 $187.04 $33,854.26
51 $33,854.26 $587.78 $0.00 $191.42 $34,633.46
52 $34,633.46 $587.78 $0.00 $195.82 $35,417.06
53 $35,417.06 $587.78 $0.00 $200.25 $36,205.09
54 $36,205.09 $587.78 $0.00 $204.71 $36,997.58
55 $36,997.58 $587.78 $0.00 $209.19 $37,794.55
56 $37,794.55 $587.78 $0.00 $213.70 $38,596.03
57 $38,596.03 $587.78 $0.00 $218.23 $39,402.04
58 $39,402.04 $587.78 $0.00 $222.78 $40,212.60
59 $40,212.60 $587.78 $0.00 $227.37 $41,027.75
60 $41,027.75 $587.78 $0.00 $231.98 $41,847.51
61 $41,847.51 $587.78 $0.00 $236.61 $42,671.90
62 $42,671.90 $587.78 $0.00 $241.27 $43,500.95
63 $43,500.95 $587.78 $0.00 $245.96 $44,334.69
64 $44,334.69 $587.78 $0.00 $250.67 $45,173.14
65 $45,173.14 $587.78 $0.00 $255.42 $46,016.34
66 $46,016.34 $587.78 $0.00 $260.18 $46,864.30
67 $46,864.30 $587.78 $0.00 $264.98 $47,717.06
68 $47,717.06 $587.78 $0.00 $269.80 $48,574.64
69 $48,574.64 $587.78 $0.00 $274.65 $49,437.07
70 $49,437.07 $587.78 $0.00 $279.52 $50,304.37
71 $50,304.37 $587.78 $0.00 $284.43 $51,176.58
72 $51,176.58 $587.78 $0.00 $289.36 $52,053.72
73 $52,053.72 $587.78 $0.00 $294.32 $52,935.82
74 $52,935.82 $587.78 $0.00 $299.31 $53,822.91
75 $53,822.91 $587.78 $0.00 $304.32 $54,715.01
76 $54,715.01 $587.78 $0.00 $309.37 $55,612.16
77 $55,612.16 $587.78 $0.00 $314.44 $56,514.38
78 $56,514.38 $587.78 $0.00 $319.54 $57,421.70
79 $57,421.70 $587.78 $0.00 $324.67 $58,334.15
80 $58,334.15 $587.78 $0.00 $329.83 $59,251.76
81 $59,251.76 $587.78 $0.00 $335.02 $60,174.56
82 $60,174.56 $587.78 $0.00 $340.24 $61,102.58
83 $61,102.58 $587.78 $0.00 $345.48 $62,035.84
84 $62,035.84 $587.78 $0.00 $350.76 $62,974.38
85 $62,974.38 $587.78 $0.00 $356.07 $63,918.23
86 $63,918.23 $587.78 $0.00 $361.40 $64,867.41
87 $64,867.41 $587.78 $0.00 $366.77 $65,821.96
88 $65,821.96 $587.78 $0.00 $372.17 $66,781.91
89 $66,781.91 $587.78 $0.00 $377.59 $67,747.28
90 $67,747.28 $587.78 $0.00 $383.05 $68,718.11
91 $68,718.11 $587.78 $0.00 $388.54 $69,694.43
92 $69,694.43 $587.78 $0.00 $394.06 $70,676.27
93 $70,676.27 $587.78 $0.00 $399.61 $71,663.66
94 $71,663.66 $587.78 $0.00 $405.20 $72,656.64
95 $72,656.64 $587.78 $0.00 $410.81 $73,655.23
96 $73,655.23 $587.78 $0.00 $416.46 $74,659.47
97 $74,659.47 $587.78 $0.00 $422.14 $75,669.39
98 $75,669.39 $587.78 $0.00 $427.85 $76,685.02
99 $76,685.02 $587.78 $0.00 $433.59 $77,706.39
100 $77,706.39 $587.78 $0.00 $439.36 $78,733.53
101 $78,733.53 $587.78 $0.00 $445.17 $79,766.48
102 $79,766.48 $587.78 $0.00 $451.01 $80,805.27
103 $80,805.27 $587.78 $0.00 $456.88 $81,849.93
104 $81,849.93 $587.78 $0.00 $462.79 $82,900.50
105 $82,900.50 $587.78 $0.00 $468.73 $83,957.01
106 $83,957.01 $587.78 $0.00 $474.71 $85,019.50
107 $85,019.50 $587.78 $0.00 $480.71 $86,087.99
108 $86,087.99 $587.78 $0.00 $486.75 $87,162.52
109 $87,162.52 $587.78 $0.00 $492.83 $88,243.13
110 $88,243.13 $587.78 $0.00 $498.94 $89,329.85
111 $89,329.85 $587.78 $0.00 $505.08 $90,422.71
112 $90,422.71 $587.78 $0.00 $511.26 $91,521.75
113 $91,521.75 $587.78 $0.00 $517.48 $92,627.01
114 $92,627.01 $587.78 $0.00 $523.73 $93,738.52
115 $93,738.52 $587.78 $0.00 $530.01 $94,856.31
116 $94,856.31 $587.78 $0.00 $536.33 $95,980.42
117 $95,980.42 $587.78 $0.00 $542.69 $97,110.89
118 $97,110.89 $587.78 $0.00 $549.08 $98,247.75
119 $98,247.75 $587.78 $0.00 $555.51 $99,391.04
120 $99,391.04 $587.78 $0.00 $561.97 $100,540.79
121 $100,540.79 $587.78 $0.00 $568.47 $101,697.04
122 $101,697.04 $587.78 $0.00 $575.01 $102,859.83
123 $102,859.83 $587.78 $0.00 $581.58 $104,029.19
124 $104,029.19 $587.78 $0.00 $588.20 $105,205.17
125 $105,205.17 $587.78 $0.00 $594.85 $106,387.80
126 $106,387.80 $587.78 $0.00 $601.53 $107,577.11
127 $107,577.11 $587.78 $0.00 $608.26 $108,773.15
128 $108,773.15 $587.78 $0.00 $615.02 $109,975.95
129 $109,975.95 $587.78 $0.00 $621.82 $111,185.55
130 $111,185.55 $587.78 $0.00 $628.66 $112,401.99
131 $112,401.99 $587.78 $0.00 $635.54 $113,625.31
132 $113,625.31 $587.78 $0.00 $642.45 $114,855.54
133 $114,855.54 $587.78 $0.00 $649.41 $116,092.73
134 $116,092.73 $587.78 $0.00 $656.41 $117,336.92
135 $117,336.92 $587.78 $0.00 $663.44 $118,588.14
136 $118,588.14 $587.78 $0.00 $670.51 $119,846.43
137 $119,846.43 $587.78 $0.00 $677.63 $121,111.84
138 $121,111.84 $587.78 $0.00 $684.78 $122,384.40
139 $122,384.40 $587.78 $0.00 $691.98 $123,664.16
140 $123,664.16 $587.78 $0.00 $699.22 $124,951.16
141 $124,951.16 $587.78 $0.00 $706.49 $126,245.43
142 $126,245.43 $587.78 $0.00 $713.81 $127,547.02
143 $127,547.02 $587.78 $0.00 $721.17 $128,855.97
144 $128,855.97 $587.78 $0.00 $728.57 $130,172.32
145 $130,172.32 $587.78 $0.00 $736.01 $131,496.11
146 $131,496.11 $587.78 $0.00 $743.50 $132,827.39
147 $132,827.39 $587.78 $0.00 $751.03 $134,166.20
148 $134,166.20 $587.78 $0.00 $758.60 $135,512.58
149 $135,512.58 $587.78 $0.00 $766.21 $136,866.57
150 $136,866.57 $587.78 $0.00 $773.86 $138,228.21
151 $138,228.21 $587.78 $0.00 $781.56 $139,597.55
152 $139,597.55 $587.78 $0.00 $789.30 $140,974.63
153 $140,974.63 $587.78 $0.00 $797.09 $142,359.50
154 $142,359.50 $587.78 $0.00 $804.92 $143,752.20
155 $143,752.20 $587.78 $0.00 $812.80 $145,152.78
156 $145,152.78 $587.78 $0.00 $820.71 $146,561.27
157 $146,561.27 $587.78 $0.00 $828.68 $147,977.73
158 $147,977.73 $587.78 $0.00 $836.69 $149,402.20
159 $149,402.20 $587.78 $0.00 $844.74 $150,834.72
160 $150,834.72 $587.78 $0.00 $852.84 $152,275.34
161 $152,275.34 $587.78 $0.00 $860.99 $153,724.11
162 $153,724.11 $587.78 $0.00 $869.18 $155,181.07
163 $155,181.07 $587.78 $0.00 $877.42 $156,646.27
164 $156,646.27 $587.78 $0.00 $885.70 $158,119.75
165 $158,119.75 $587.78 $0.00 $894.03 $159,601.56
166 $159,601.56 $587.78 $0.00 $902.41 $161,091.75
167 $161,091.75 $587.78 $0.00 $910.84 $162,590.37
168 $162,590.37 $587.78 $0.00 $919.31 $164,097.46
169 $164,097.46 $587.78 $0.00 $927.83 $165,613.07
170 $165,613.07 $587.78 $0.00 $936.40 $167,137.25
171 $167,137.25 $587.78 $0.00 $945.02 $168,670.05
172 $168,670.05 $587.78 $0.00 $953.68 $170,211.51
173 $170,211.51 $587.78 $0.00 $962.40 $171,761.69
174 $171,761.69 $587.78 $0.00 $971.17 $173,320.64
175 $173,320.64 $587.78 $0.00 $979.98 $174,888.40
176 $174,888.40 $587.78 $0.00 $988.84 $176,465.02
177 $176,465.02 $587.78 $0.00 $997.76 $178,050.56
178 $178,050.56 $587.78 $0.00 $1,006.72 $179,645.06
179 $179,645.06 $587.78 $0.00 $1,015.74 $181,248.58
180 $181,248.58 $587.78 $0.00 $1,024.81 $182,861.17
181 $182,861.17 $587.78 $0.00 $1,033.92 $184,482.87
182 $184,482.87 $587.78 $0.00 $1,043.09 $186,113.74
183 $186,113.74 $587.78 $0.00 $1,052.31 $187,753.83
184 $187,753.83 $587.78 $0.00 $1,061.59 $189,403.20
185 $189,403.20 $587.78 $0.00 $1,070.91 $191,061.89
186 $191,061.89 $587.78 $0.00 $1,080.29 $192,729.96
187 $192,729.96 $587.78 $0.00 $1,089.72 $194,407.46
188 $194,407.46 $587.78 $0.00 $1,099.21 $196,094.45
189 $196,094.45 $587.78 $0.00 $1,108.75 $197,790.98
190 $197,790.98 $587.78 $0.00 $1,118.34 $199,497.10
191 $199,497.10 $587.78 $0.00 $1,127.99 $201,212.87
192 $201,212.87 $587.78 $0.00 $1,137.69 $202,938.34
193 $202,938.34 $587.78 $0.00 $1,147.44 $204,673.56
194 $204,673.56 $587.78 $0.00 $1,157.25 $206,418.59
195 $206,418.59 $587.78 $0.00 $1,167.12 $208,173.49
196 $208,173.49 $587.78 $0.00 $1,177.04 $209,938.31
197 $209,938.31 $587.78 $0.00 $1,187.02 $211,713.11
198 $211,713.11 $587.78 $0.00 $1,197.06 $213,497.95
199 $213,497.95 $587.78 $0.00 $1,207.15 $215,292.88
200 $215,292.88 $587.78 $0.00 $1,217.30 $217,097.96
201 $217,097.96 $587.78 $0.00 $1,227.50 $218,913.24
202 $218,913.24 $587.78 $0.00 $1,237.77 $220,738.79
203 $220,738.79 $587.78 $0.00 $1,248.09 $222,574.66
204 $222,574.66 $587.78 $0.00 $1,258.47 $224,420.91
205 $224,420.91 $587.78 $0.00 $1,268.91 $226,277.60
206 $226,277.60 $587.78 $0.00 $1,279.41 $228,144.79
207 $228,144.79 $587.78 $0.00 $1,289.96 $230,022.53
208 $230,022.53 $587.78 $0.00 $1,300.58 $231,910.89
209 $231,910.89 $587.78 $0.00 $1,311.26 $233,809.93
210 $233,809.93 $587.78 $0.00 $1,322.00 $235,719.71
211 $235,719.71 $587.78 $0.00 $1,332.79 $237,640.28
212 $237,640.28 $587.78 $0.00 $1,343.65 $239,571.71
213 $239,571.71 $587.78 $0.00 $1,354.57 $241,514.06
214 $241,514.06 $587.78 $0.00 $1,365.56 $243,467.40
215 $243,467.40 $587.78 $0.00 $1,376.60 $245,431.78
216 $245,431.78 $587.78 $0.00 $1,387.71 $247,407.27
217 $247,407.27 $587.78 $68,911.14 $1,398.88 $180,482.79
218 $180,482.79 $587.78 $0.00 $1,020.48 $182,091.05
219 $182,091.05 $587.78 $0.00 $1,029.57 $183,708.40
220 $183,708.40 $587.78 $0.00 $1,038.71 $185,334.89
221 $185,334.89 $587.78 $0.00 $1,047.91 $186,970.58
222 $186,970.58 $587.78 $0.00 $1,057.16 $188,615.52
223 $188,615.52 $587.78 $0.00 $1,066.46 $190,269.76
224 $190,269.76 $587.78 $0.00 $1,075.81 $191,933.35
225 $191,933.35 $587.78 $0.00 $1,085.22 $193,606.35
226 $193,606.35 $587.78 $0.00 $1,094.68 $195,288.81
227 $195,288.81 $587.78 $0.00 $1,104.19 $196,980.78
228 $196,980.78 $587.78 $0.00 $1,113.76 $198,682.32
229 $198,682.32 $587.78 $72,356.69 $1,123.38 $128,036.79
230 $128,036.79 $587.78 $0.00 $723.94 $129,348.51
231 $129,348.51 $587.78 $0.00 $731.36 $130,667.65
232 $130,667.65 $587.78 $0.00 $738.81 $131,994.24
233 $131,994.24 $587.78 $0.00 $746.31 $133,328.33
234 $133,328.33 $587.78 $0.00 $753.86 $134,669.97
235 $134,669.97 $587.78 $0.00 $761.44 $136,019.19
236 $136,019.19 $587.78 $0.00 $769.07 $137,376.04
237 $137,376.04 $587.78 $0.00 $776.74 $138,740.56
238 $138,740.56 $587.78 $0.00 $784.46 $140,112.80
239 $140,112.80 $587.78 $0.00 $792.22 $141,492.80
240 $141,492.80 $587.78 $0.00 $800.02 $142,880.60
241 $142,880.60 $587.78 $75,974.53 $807.87 $68,301.72
242 $68,301.72 $587.78 $0.00 $386.19 $69,275.69
243 $69,275.69 $587.78 $0.00 $391.69 $70,255.16
244 $70,255.16 $587.78 $0.00 $397.23 $71,240.17
245 $71,240.17 $587.78 $0.00 $402.80 $72,230.75
246 $72,230.75 $587.78 $0.00 $408.40 $73,226.93
247 $73,226.93 $587.78 $0.00 $414.04 $74,228.75
248 $74,228.75 $587.78 $0.00 $419.70 $75,236.23
249 $75,236.23 $587.78 $0.00 $425.40 $76,249.41
250 $76,249.41 $587.78 $0.00 $431.13 $77,268.32
251 $77,268.32 $587.78 $0.00 $436.89 $78,292.99
252 $78,292.99 $587.78 $0.00 $442.68 $79,323.45
253 $79,323.45 $0.00 $79,773.25 $448.51 ($1.29)