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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$58,020
Monthly savings required$459

How much will it cost to send your child to West Virginia University Institute of Technology in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $232,081.69 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $459.29 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$22,374.00
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 $459.29 $0.00 $0.00 $459.29
2 $459.29 $459.29 $0.00 $2.60 $921.18
3 $921.18 $459.29 $0.00 $5.21 $1,385.68
4 $1,385.68 $459.29 $0.00 $7.83 $1,852.80
5 $1,852.80 $459.29 $0.00 $10.48 $2,322.57
6 $2,322.57 $459.29 $0.00 $13.13 $2,794.99
7 $2,794.99 $459.29 $0.00 $15.80 $3,270.08
8 $3,270.08 $459.29 $0.00 $18.49 $3,747.86
9 $3,747.86 $459.29 $0.00 $21.19 $4,228.34
10 $4,228.34 $459.29 $0.00 $23.91 $4,711.54
11 $4,711.54 $459.29 $0.00 $26.64 $5,197.47
12 $5,197.47 $459.29 $0.00 $29.39 $5,686.15
13 $5,686.15 $459.29 $0.00 $32.15 $6,177.59
14 $6,177.59 $459.29 $0.00 $34.93 $6,671.81
15 $6,671.81 $459.29 $0.00 $37.72 $7,168.82
16 $7,168.82 $459.29 $0.00 $40.53 $7,668.64
17 $7,668.64 $459.29 $0.00 $43.36 $8,171.29
18 $8,171.29 $459.29 $0.00 $46.20 $8,676.78
19 $8,676.78 $459.29 $0.00 $49.06 $9,185.13
20 $9,185.13 $459.29 $0.00 $51.93 $9,696.35
21 $9,696.35 $459.29 $0.00 $54.82 $10,210.46
22 $10,210.46 $459.29 $0.00 $57.73 $10,727.48
23 $10,727.48 $459.29 $0.00 $60.65 $11,247.42
24 $11,247.42 $459.29 $0.00 $63.59 $11,770.30
25 $11,770.30 $459.29 $0.00 $66.55 $12,296.14
26 $12,296.14 $459.29 $0.00 $69.52 $12,824.95
27 $12,824.95 $459.29 $0.00 $72.51 $13,356.75
28 $13,356.75 $459.29 $0.00 $75.52 $13,891.56
29 $13,891.56 $459.29 $0.00 $78.54 $14,429.39
30 $14,429.39 $459.29 $0.00 $81.59 $14,970.27
31 $14,970.27 $459.29 $0.00 $84.64 $15,514.20
32 $15,514.20 $459.29 $0.00 $87.72 $16,061.21
33 $16,061.21 $459.29 $0.00 $90.81 $16,611.31
34 $16,611.31 $459.29 $0.00 $93.92 $17,164.52
35 $17,164.52 $459.29 $0.00 $97.05 $17,720.86
36 $17,720.86 $459.29 $0.00 $100.20 $18,280.35
37 $18,280.35 $459.29 $0.00 $103.36 $18,843.00
38 $18,843.00 $459.29 $0.00 $106.54 $19,408.83
39 $19,408.83 $459.29 $0.00 $109.74 $19,977.86
40 $19,977.86 $459.29 $0.00 $112.96 $20,550.11
41 $20,550.11 $459.29 $0.00 $116.19 $21,125.59
42 $21,125.59 $459.29 $0.00 $119.45 $21,704.33
43 $21,704.33 $459.29 $0.00 $122.72 $22,286.34
44 $22,286.34 $459.29 $0.00 $126.01 $22,871.64
45 $22,871.64 $459.29 $0.00 $129.32 $23,460.25
46 $23,460.25 $459.29 $0.00 $132.65 $24,052.19
47 $24,052.19 $459.29 $0.00 $135.99 $24,647.47
48 $24,647.47 $459.29 $0.00 $139.36 $25,246.12
49 $25,246.12 $459.29 $0.00 $142.75 $25,848.16
50 $25,848.16 $459.29 $0.00 $146.15 $26,453.60
51 $26,453.60 $459.29 $0.00 $149.57 $27,062.46
52 $27,062.46 $459.29 $0.00 $153.02 $27,674.77
53 $27,674.77 $459.29 $0.00 $156.48 $28,290.54
54 $28,290.54 $459.29 $0.00 $159.96 $28,909.79
55 $28,909.79 $459.29 $0.00 $163.46 $29,532.54
56 $29,532.54 $459.29 $0.00 $166.98 $30,158.81
57 $30,158.81 $459.29 $0.00 $170.52 $30,788.62
58 $30,788.62 $459.29 $0.00 $174.08 $31,421.99
59 $31,421.99 $459.29 $0.00 $177.66 $32,058.94
60 $32,058.94 $459.29 $0.00 $181.27 $32,699.50
61 $32,699.50 $459.29 $0.00 $184.89 $33,343.68
62 $33,343.68 $459.29 $0.00 $188.53 $33,991.50
63 $33,991.50 $459.29 $0.00 $192.19 $34,642.98
64 $34,642.98 $459.29 $0.00 $195.88 $35,298.15
65 $35,298.15 $459.29 $0.00 $199.58 $35,957.02
66 $35,957.02 $459.29 $0.00 $203.31 $36,619.62
67 $36,619.62 $459.29 $0.00 $207.05 $37,285.96
68 $37,285.96 $459.29 $0.00 $210.82 $37,956.07
69 $37,956.07 $459.29 $0.00 $214.61 $38,629.97
70 $38,629.97 $459.29 $0.00 $218.42 $39,307.68
71 $39,307.68 $459.29 $0.00 $222.25 $39,989.22
72 $39,989.22 $459.29 $0.00 $226.10 $40,674.61
73 $40,674.61 $459.29 $0.00 $229.98 $41,363.88
74 $41,363.88 $459.29 $0.00 $233.88 $42,057.05
75 $42,057.05 $459.29 $0.00 $237.80 $42,754.14
76 $42,754.14 $459.29 $0.00 $241.74 $43,455.17
77 $43,455.17 $459.29 $0.00 $245.70 $44,160.16
78 $44,160.16 $459.29 $0.00 $249.69 $44,869.14
79 $44,869.14 $459.29 $0.00 $253.70 $45,582.13
80 $45,582.13 $459.29 $0.00 $257.73 $46,299.15
81 $46,299.15 $459.29 $0.00 $261.78 $47,020.22
82 $47,020.22 $459.29 $0.00 $265.86 $47,745.37
83 $47,745.37 $459.29 $0.00 $269.96 $48,474.62
84 $48,474.62 $459.29 $0.00 $274.08 $49,207.99
85 $49,207.99 $459.29 $0.00 $278.23 $49,945.51
86 $49,945.51 $459.29 $0.00 $282.40 $50,687.20
87 $50,687.20 $459.29 $0.00 $286.59 $51,433.08
88 $51,433.08 $459.29 $0.00 $290.81 $52,183.18
89 $52,183.18 $459.29 $0.00 $295.05 $52,937.52
90 $52,937.52 $459.29 $0.00 $299.32 $53,696.13
91 $53,696.13 $459.29 $0.00 $303.61 $54,459.03
92 $54,459.03 $459.29 $0.00 $307.92 $55,226.24
93 $55,226.24 $459.29 $0.00 $312.26 $55,997.79
94 $55,997.79 $459.29 $0.00 $316.62 $56,773.70
95 $56,773.70 $459.29 $0.00 $321.01 $57,554.00
96 $57,554.00 $459.29 $0.00 $325.42 $58,338.71
97 $58,338.71 $459.29 $0.00 $329.86 $59,127.86
98 $59,127.86 $459.29 $0.00 $334.32 $59,921.47
99 $59,921.47 $459.29 $0.00 $338.80 $60,719.56
100 $60,719.56 $459.29 $0.00 $343.32 $61,522.17
101 $61,522.17 $459.29 $0.00 $347.86 $62,329.32
102 $62,329.32 $459.29 $0.00 $352.42 $63,141.03
103 $63,141.03 $459.29 $0.00 $357.01 $63,957.33
104 $63,957.33 $459.29 $0.00 $361.62 $64,778.24
105 $64,778.24 $459.29 $0.00 $366.27 $65,603.80
106 $65,603.80 $459.29 $0.00 $370.93 $66,434.02
107 $66,434.02 $459.29 $0.00 $375.63 $67,268.94
108 $67,268.94 $459.29 $0.00 $380.35 $68,108.58
109 $68,108.58 $459.29 $0.00 $385.10 $68,952.97
110 $68,952.97 $459.29 $0.00 $389.87 $69,802.13
111 $69,802.13 $459.29 $0.00 $394.67 $70,656.09
112 $70,656.09 $459.29 $0.00 $399.50 $71,514.88
113 $71,514.88 $459.29 $0.00 $404.36 $72,378.53
114 $72,378.53 $459.29 $0.00 $409.24 $73,247.06
115 $73,247.06 $459.29 $0.00 $414.15 $74,120.50
116 $74,120.50 $459.29 $0.00 $419.09 $74,998.88
117 $74,998.88 $459.29 $0.00 $424.05 $75,882.22
118 $75,882.22 $459.29 $0.00 $429.05 $76,770.56
119 $76,770.56 $459.29 $0.00 $434.07 $77,663.92
120 $77,663.92 $459.29 $0.00 $439.12 $78,562.33
121 $78,562.33 $459.29 $0.00 $444.20 $79,465.82
122 $79,465.82 $459.29 $0.00 $449.31 $80,374.42
123 $80,374.42 $459.29 $0.00 $454.45 $81,288.16
124 $81,288.16 $459.29 $0.00 $459.62 $82,207.07
125 $82,207.07 $459.29 $0.00 $464.81 $83,131.17
126 $83,131.17 $459.29 $0.00 $470.04 $84,060.50
127 $84,060.50 $459.29 $0.00 $475.29 $84,995.08
128 $84,995.08 $459.29 $0.00 $480.57 $85,934.94
129 $85,934.94 $459.29 $0.00 $485.89 $86,880.12
130 $86,880.12 $459.29 $0.00 $491.23 $87,830.64
131 $87,830.64 $459.29 $0.00 $496.61 $88,786.54
132 $88,786.54 $459.29 $0.00 $502.01 $89,747.84
133 $89,747.84 $459.29 $0.00 $507.45 $90,714.58
134 $90,714.58 $459.29 $0.00 $512.91 $91,686.78
135 $91,686.78 $459.29 $0.00 $518.41 $92,664.48
136 $92,664.48 $459.29 $0.00 $523.94 $93,647.71
137 $93,647.71 $459.29 $0.00 $529.50 $94,636.50
138 $94,636.50 $459.29 $0.00 $535.09 $95,630.88
139 $95,630.88 $459.29 $0.00 $540.71 $96,630.88
140 $96,630.88 $459.29 $0.00 $546.37 $97,636.54
141 $97,636.54 $459.29 $0.00 $552.05 $98,647.88
142 $98,647.88 $459.29 $0.00 $557.77 $99,664.94
143 $99,664.94 $459.29 $0.00 $563.52 $100,687.75
144 $100,687.75 $459.29 $0.00 $569.30 $101,716.34
145 $101,716.34 $459.29 $0.00 $575.12 $102,750.75
146 $102,750.75 $459.29 $0.00 $580.97 $103,791.01
147 $103,791.01 $459.29 $0.00 $586.85 $104,837.15
148 $104,837.15 $459.29 $0.00 $592.76 $105,889.20
149 $105,889.20 $459.29 $0.00 $598.71 $106,947.20
150 $106,947.20 $459.29 $0.00 $604.70 $108,011.19
151 $108,011.19 $459.29 $0.00 $610.71 $109,081.19
152 $109,081.19 $459.29 $0.00 $616.76 $110,157.24
153 $110,157.24 $459.29 $0.00 $622.85 $111,239.38
154 $111,239.38 $459.29 $0.00 $628.96 $112,327.63
155 $112,327.63 $459.29 $0.00 $635.12 $113,422.04
156 $113,422.04 $459.29 $0.00 $641.30 $114,522.63
157 $114,522.63 $459.29 $0.00 $647.53 $115,629.45
158 $115,629.45 $459.29 $0.00 $653.79 $116,742.53
159 $116,742.53 $459.29 $0.00 $660.08 $117,861.90
160 $117,861.90 $459.29 $0.00 $666.41 $118,987.60
161 $118,987.60 $459.29 $0.00 $672.77 $120,119.66
162 $120,119.66 $459.29 $0.00 $679.17 $121,258.12
163 $121,258.12 $459.29 $0.00 $685.61 $122,403.02
164 $122,403.02 $459.29 $0.00 $692.08 $123,554.39
165 $123,554.39 $459.29 $0.00 $698.59 $124,712.27
166 $124,712.27 $459.29 $0.00 $705.14 $125,876.70
167 $125,876.70 $459.29 $0.00 $711.73 $127,047.72
168 $127,047.72 $459.29 $0.00 $718.35 $128,225.36
169 $128,225.36 $459.29 $0.00 $725.00 $129,409.65
170 $129,409.65 $459.29 $0.00 $731.70 $130,600.64
171 $130,600.64 $459.29 $0.00 $738.44 $131,798.37
172 $131,798.37 $459.29 $0.00 $745.21 $133,002.87
173 $133,002.87 $459.29 $0.00 $752.02 $134,214.18
174 $134,214.18 $459.29 $0.00 $758.87 $135,432.34
175 $135,432.34 $459.29 $0.00 $765.75 $136,657.38
176 $136,657.38 $459.29 $0.00 $772.68 $137,889.35
177 $137,889.35 $459.29 $0.00 $779.65 $139,128.29
178 $139,128.29 $459.29 $0.00 $786.65 $140,374.23
179 $140,374.23 $459.29 $0.00 $793.70 $141,627.22
180 $141,627.22 $459.29 $0.00 $800.78 $142,887.29
181 $142,887.29 $459.29 $0.00 $807.91 $144,154.49
182 $144,154.49 $459.29 $0.00 $815.07 $145,428.85
183 $145,428.85 $459.29 $0.00 $822.28 $146,710.42
184 $146,710.42 $459.29 $0.00 $829.52 $147,999.23
185 $147,999.23 $459.29 $0.00 $836.81 $149,295.33
186 $149,295.33 $459.29 $0.00 $844.14 $150,598.76
187 $150,598.76 $459.29 $0.00 $851.51 $151,909.56
188 $151,909.56 $459.29 $0.00 $858.92 $153,227.77
189 $153,227.77 $459.29 $0.00 $866.37 $154,553.43
190 $154,553.43 $459.29 $0.00 $873.87 $155,886.59
191 $155,886.59 $459.29 $0.00 $881.41 $157,227.29
192 $157,227.29 $459.29 $0.00 $888.99 $158,575.57
193 $158,575.57 $459.29 $0.00 $896.61 $159,931.47
194 $159,931.47 $459.29 $0.00 $904.28 $161,295.04
195 $161,295.04 $459.29 $0.00 $911.99 $162,666.32
196 $162,666.32 $459.29 $0.00 $919.74 $164,045.35
197 $164,045.35 $459.29 $0.00 $927.54 $165,432.18
198 $165,432.18 $459.29 $0.00 $935.38 $166,826.85
199 $166,826.85 $459.29 $0.00 $943.26 $168,229.40
200 $168,229.40 $459.29 $0.00 $951.19 $169,639.88
201 $169,639.88 $459.29 $0.00 $959.17 $171,058.34
202 $171,058.34 $459.29 $0.00 $967.19 $172,484.82
203 $172,484.82 $459.29 $0.00 $975.25 $173,919.36
204 $173,919.36 $459.29 $0.00 $983.37 $175,362.02
205 $175,362.02 $459.29 $0.00 $991.52 $176,812.83
206 $176,812.83 $459.29 $0.00 $999.73 $178,271.85
207 $178,271.85 $459.29 $0.00 $1,007.97 $179,739.11
208 $179,739.11 $459.29 $0.00 $1,016.27 $181,214.67
209 $181,214.67 $459.29 $0.00 $1,024.61 $182,698.57
210 $182,698.57 $459.29 $0.00 $1,033.00 $184,190.86
211 $184,190.86 $459.29 $0.00 $1,041.44 $185,691.59
212 $185,691.59 $459.29 $0.00 $1,049.93 $187,200.81
213 $187,200.81 $459.29 $0.00 $1,058.46 $188,718.56
214 $188,718.56 $459.29 $0.00 $1,067.04 $190,244.89
215 $190,244.89 $459.29 $0.00 $1,075.67 $191,779.85
216 $191,779.85 $459.29 $0.00 $1,084.35 $193,323.49
217 $193,323.49 $459.29 $53,845.70 $1,093.08 $141,030.16
218 $141,030.16 $459.29 $0.00 $797.41 $142,286.86
219 $142,286.86 $459.29 $0.00 $804.51 $143,550.66
220 $143,550.66 $459.29 $0.00 $811.66 $144,821.61
221 $144,821.61 $459.29 $0.00 $818.84 $146,099.74
222 $146,099.74 $459.29 $0.00 $826.07 $147,385.10
223 $147,385.10 $459.29 $0.00 $833.34 $148,677.73
224 $148,677.73 $459.29 $0.00 $840.65 $149,977.67
225 $149,977.67 $459.29 $0.00 $848.00 $151,284.96
226 $151,284.96 $459.29 $0.00 $855.39 $152,599.64
227 $152,599.64 $459.29 $0.00 $862.82 $153,921.75
228 $153,921.75 $459.29 $0.00 $870.30 $155,251.34
229 $155,251.34 $459.29 $56,537.98 $877.81 $100,050.46
230 $100,050.46 $459.29 $0.00 $565.70 $101,075.45
231 $101,075.45 $459.29 $0.00 $571.50 $102,106.24
232 $102,106.24 $459.29 $0.00 $577.32 $103,142.85
233 $103,142.85 $459.29 $0.00 $583.18 $104,185.32
234 $104,185.32 $459.29 $0.00 $589.08 $105,233.69
235 $105,233.69 $459.29 $0.00 $595.01 $106,287.99
236 $106,287.99 $459.29 $0.00 $600.97 $107,348.25
237 $107,348.25 $459.29 $0.00 $606.96 $108,414.50
238 $108,414.50 $459.29 $0.00 $612.99 $109,486.78
239 $109,486.78 $459.29 $0.00 $619.05 $110,565.12
240 $110,565.12 $459.29 $0.00 $625.15 $111,649.56
241 $111,649.56 $459.29 $59,364.88 $631.28 $53,375.25
242 $53,375.25 $459.29 $0.00 $301.79 $54,136.33
243 $54,136.33 $459.29 $0.00 $306.09 $54,901.71
244 $54,901.71 $459.29 $0.00 $310.42 $55,671.42
245 $55,671.42 $459.29 $0.00 $314.77 $56,445.48
246 $56,445.48 $459.29 $0.00 $319.15 $57,223.92
247 $57,223.92 $459.29 $0.00 $323.55 $58,006.76
248 $58,006.76 $459.29 $0.00 $327.98 $58,794.03
249 $58,794.03 $459.29 $0.00 $332.43 $59,585.75
250 $59,585.75 $459.29 $0.00 $336.91 $60,381.95
251 $60,381.95 $459.29 $0.00 $341.41 $61,182.65
252 $61,182.65 $459.29 $0.00 $345.94 $61,987.88
253 $61,987.88 $0.00 $62,333.13 $350.49 $5.24