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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$120,742
Monthly savings required$956

How much will it cost to send your child to West Virginia Wesleyan College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $482,969.32 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $955.77 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$46,561.00
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 $955.77 $0.00 $0.00 $955.77
2 $955.77 $955.77 $0.00 $5.40 $1,916.94
3 $1,916.94 $955.77 $0.00 $10.84 $2,883.55
4 $2,883.55 $955.77 $0.00 $16.30 $3,855.62
5 $3,855.62 $955.77 $0.00 $21.80 $4,833.19
6 $4,833.19 $955.77 $0.00 $27.33 $5,816.29
7 $5,816.29 $955.77 $0.00 $32.89 $6,804.95
8 $6,804.95 $955.77 $0.00 $38.48 $7,799.20
9 $7,799.20 $955.77 $0.00 $44.10 $8,799.07
10 $8,799.07 $955.77 $0.00 $49.75 $9,804.59
11 $9,804.59 $955.77 $0.00 $55.44 $10,815.80
12 $10,815.80 $955.77 $0.00 $61.15 $11,832.72
13 $11,832.72 $955.77 $0.00 $66.90 $12,855.39
14 $12,855.39 $955.77 $0.00 $72.69 $13,883.85
15 $13,883.85 $955.77 $0.00 $78.50 $14,918.12
16 $14,918.12 $955.77 $0.00 $84.35 $15,958.24
17 $15,958.24 $955.77 $0.00 $90.23 $17,004.24
18 $17,004.24 $955.77 $0.00 $96.14 $18,056.15
19 $18,056.15 $955.77 $0.00 $102.09 $19,114.01
20 $19,114.01 $955.77 $0.00 $108.07 $20,177.85
21 $20,177.85 $955.77 $0.00 $114.09 $21,247.71
22 $21,247.71 $955.77 $0.00 $120.14 $22,323.62
23 $22,323.62 $955.77 $0.00 $126.22 $23,405.61
24 $23,405.61 $955.77 $0.00 $132.34 $24,493.72
25 $24,493.72 $955.77 $0.00 $138.49 $25,587.98
26 $25,587.98 $955.77 $0.00 $144.68 $26,688.43
27 $26,688.43 $955.77 $0.00 $150.90 $27,795.10
28 $27,795.10 $955.77 $0.00 $157.16 $28,908.03
29 $28,908.03 $955.77 $0.00 $163.45 $30,027.25
30 $30,027.25 $955.77 $0.00 $169.78 $31,152.80
31 $31,152.80 $955.77 $0.00 $176.14 $32,284.71
32 $32,284.71 $955.77 $0.00 $182.54 $33,423.02
33 $33,423.02 $955.77 $0.00 $188.98 $34,567.77
34 $34,567.77 $955.77 $0.00 $195.45 $35,718.99
35 $35,718.99 $955.77 $0.00 $201.96 $36,876.72
36 $36,876.72 $955.77 $0.00 $208.51 $38,041.00
37 $38,041.00 $955.77 $0.00 $215.09 $39,211.86
38 $39,211.86 $955.77 $0.00 $221.71 $40,389.34
39 $40,389.34 $955.77 $0.00 $228.37 $41,573.48
40 $41,573.48 $955.77 $0.00 $235.06 $42,764.31
41 $42,764.31 $955.77 $0.00 $241.80 $43,961.88
42 $43,961.88 $955.77 $0.00 $248.57 $45,166.22
43 $45,166.22 $955.77 $0.00 $255.38 $46,377.37
44 $46,377.37 $955.77 $0.00 $262.22 $47,595.36
45 $47,595.36 $955.77 $0.00 $269.11 $48,820.24
46 $48,820.24 $955.77 $0.00 $276.04 $50,052.05
47 $50,052.05 $955.77 $0.00 $283.00 $51,290.82
48 $51,290.82 $955.77 $0.00 $290.01 $52,536.60
49 $52,536.60 $955.77 $0.00 $297.05 $53,789.42
50 $53,789.42 $955.77 $0.00 $304.13 $55,049.32
51 $55,049.32 $955.77 $0.00 $311.26 $56,316.35
52 $56,316.35 $955.77 $0.00 $318.42 $57,590.54
53 $57,590.54 $955.77 $0.00 $325.63 $58,871.94
54 $58,871.94 $955.77 $0.00 $332.87 $60,160.58
55 $60,160.58 $955.77 $0.00 $340.16 $61,456.51
56 $61,456.51 $955.77 $0.00 $347.48 $62,759.76
57 $62,759.76 $955.77 $0.00 $354.85 $64,070.38
58 $64,070.38 $955.77 $0.00 $362.26 $65,388.41
59 $65,388.41 $955.77 $0.00 $369.72 $66,713.90
60 $66,713.90 $955.77 $0.00 $377.21 $68,046.88
61 $68,046.88 $955.77 $0.00 $384.75 $69,387.40
62 $69,387.40 $955.77 $0.00 $392.33 $70,735.50
63 $70,735.50 $955.77 $0.00 $399.95 $72,091.22
64 $72,091.22 $955.77 $0.00 $407.61 $73,454.60
65 $73,454.60 $955.77 $0.00 $415.32 $74,825.69
66 $74,825.69 $955.77 $0.00 $423.08 $76,204.54
67 $76,204.54 $955.77 $0.00 $430.87 $77,591.18
68 $77,591.18 $955.77 $0.00 $438.71 $78,985.66
69 $78,985.66 $955.77 $0.00 $446.60 $80,388.03
70 $80,388.03 $955.77 $0.00 $454.53 $81,798.33
71 $81,798.33 $955.77 $0.00 $462.50 $83,216.60
72 $83,216.60 $955.77 $0.00 $470.52 $84,642.89
73 $84,642.89 $955.77 $0.00 $478.58 $86,077.24
74 $86,077.24 $955.77 $0.00 $486.69 $87,519.70
75 $87,519.70 $955.77 $0.00 $494.85 $88,970.32
76 $88,970.32 $955.77 $0.00 $503.05 $90,429.14
77 $90,429.14 $955.77 $0.00 $511.30 $91,896.21
78 $91,896.21 $955.77 $0.00 $519.59 $93,371.57
79 $93,371.57 $955.77 $0.00 $527.94 $94,855.28
80 $94,855.28 $955.77 $0.00 $536.33 $96,347.38
81 $96,347.38 $955.77 $0.00 $544.76 $97,847.91
82 $97,847.91 $955.77 $0.00 $553.25 $99,356.93
83 $99,356.93 $955.77 $0.00 $561.78 $100,874.48
84 $100,874.48 $955.77 $0.00 $570.36 $102,400.61
85 $102,400.61 $955.77 $0.00 $578.99 $103,935.37
86 $103,935.37 $955.77 $0.00 $587.67 $105,478.81
87 $105,478.81 $955.77 $0.00 $596.39 $107,030.97
88 $107,030.97 $955.77 $0.00 $605.17 $108,591.91
89 $108,591.91 $955.77 $0.00 $613.99 $110,161.67
90 $110,161.67 $955.77 $0.00 $622.87 $111,740.31
91 $111,740.31 $955.77 $0.00 $631.80 $113,327.88
92 $113,327.88 $955.77 $0.00 $640.77 $114,924.42
93 $114,924.42 $955.77 $0.00 $649.80 $116,529.99
94 $116,529.99 $955.77 $0.00 $658.88 $118,144.64
95 $118,144.64 $955.77 $0.00 $668.01 $119,768.42
96 $119,768.42 $955.77 $0.00 $677.19 $121,401.38
97 $121,401.38 $955.77 $0.00 $686.42 $123,043.57
98 $123,043.57 $955.77 $0.00 $695.71 $124,695.05
99 $124,695.05 $955.77 $0.00 $705.04 $126,355.86
100 $126,355.86 $955.77 $0.00 $714.43 $128,026.06
101 $128,026.06 $955.77 $0.00 $723.88 $129,705.71
102 $129,705.71 $955.77 $0.00 $733.37 $131,394.85
103 $131,394.85 $955.77 $0.00 $742.93 $133,093.55
104 $133,093.55 $955.77 $0.00 $752.53 $134,801.85
105 $134,801.85 $955.77 $0.00 $762.19 $136,519.81
106 $136,519.81 $955.77 $0.00 $771.90 $138,247.48
107 $138,247.48 $955.77 $0.00 $781.67 $139,984.92
108 $139,984.92 $955.77 $0.00 $791.50 $141,732.19
109 $141,732.19 $955.77 $0.00 $801.37 $143,489.33
110 $143,489.33 $955.77 $0.00 $811.31 $145,256.41
111 $145,256.41 $955.77 $0.00 $821.30 $147,033.48
112 $147,033.48 $955.77 $0.00 $831.35 $148,820.60
113 $148,820.60 $955.77 $0.00 $841.45 $150,617.82
114 $150,617.82 $955.77 $0.00 $851.62 $152,425.21
115 $152,425.21 $955.77 $0.00 $861.83 $154,242.81
116 $154,242.81 $955.77 $0.00 $872.11 $156,070.69
117 $156,070.69 $955.77 $0.00 $882.45 $157,908.91
118 $157,908.91 $955.77 $0.00 $892.84 $159,757.52
119 $159,757.52 $955.77 $0.00 $903.29 $161,616.58
120 $161,616.58 $955.77 $0.00 $913.80 $163,486.15
121 $163,486.15 $955.77 $0.00 $924.37 $165,366.29
122 $165,366.29 $955.77 $0.00 $935.01 $167,257.07
123 $167,257.07 $955.77 $0.00 $945.70 $169,158.54
124 $169,158.54 $955.77 $0.00 $956.45 $171,070.76
125 $171,070.76 $955.77 $0.00 $967.26 $172,993.79
126 $172,993.79 $955.77 $0.00 $978.13 $174,927.69
127 $174,927.69 $955.77 $0.00 $989.07 $176,872.53
128 $176,872.53 $955.77 $0.00 $1,000.06 $178,828.36
129 $178,828.36 $955.77 $0.00 $1,011.12 $180,795.25
130 $180,795.25 $955.77 $0.00 $1,022.24 $182,773.26
131 $182,773.26 $955.77 $0.00 $1,033.43 $184,762.46
132 $184,762.46 $955.77 $0.00 $1,044.67 $186,762.90
133 $186,762.90 $955.77 $0.00 $1,055.98 $188,774.65
134 $188,774.65 $955.77 $0.00 $1,067.36 $190,797.78
135 $190,797.78 $955.77 $0.00 $1,078.80 $192,832.35
136 $192,832.35 $955.77 $0.00 $1,090.30 $194,878.42
137 $194,878.42 $955.77 $0.00 $1,101.87 $196,936.06
138 $196,936.06 $955.77 $0.00 $1,113.51 $199,005.34
139 $199,005.34 $955.77 $0.00 $1,125.21 $201,086.32
140 $201,086.32 $955.77 $0.00 $1,136.97 $203,179.06
141 $203,179.06 $955.77 $0.00 $1,148.80 $205,283.63
142 $205,283.63 $955.77 $0.00 $1,160.70 $207,400.10
143 $207,400.10 $955.77 $0.00 $1,172.67 $209,528.54
144 $209,528.54 $955.77 $0.00 $1,184.70 $211,669.01
145 $211,669.01 $955.77 $0.00 $1,196.81 $213,821.59
146 $213,821.59 $955.77 $0.00 $1,208.98 $215,986.34
147 $215,986.34 $955.77 $0.00 $1,221.22 $218,163.33
148 $218,163.33 $955.77 $0.00 $1,233.53 $220,352.63
149 $220,352.63 $955.77 $0.00 $1,245.91 $222,554.31
150 $222,554.31 $955.77 $0.00 $1,258.35 $224,768.43
151 $224,768.43 $955.77 $0.00 $1,270.87 $226,995.07
152 $226,995.07 $955.77 $0.00 $1,283.46 $229,234.30
153 $229,234.30 $955.77 $0.00 $1,296.12 $231,486.19
154 $231,486.19 $955.77 $0.00 $1,308.86 $233,750.82
155 $233,750.82 $955.77 $0.00 $1,321.66 $236,028.25
156 $236,028.25 $955.77 $0.00 $1,334.54 $238,318.56
157 $238,318.56 $955.77 $0.00 $1,347.49 $240,621.82
158 $240,621.82 $955.77 $0.00 $1,360.51 $242,938.10
159 $242,938.10 $955.77 $0.00 $1,373.61 $245,267.48
160 $245,267.48 $955.77 $0.00 $1,386.78 $247,610.03
161 $247,610.03 $955.77 $0.00 $1,400.02 $249,965.82
162 $249,965.82 $955.77 $0.00 $1,413.34 $252,334.93
163 $252,334.93 $955.77 $0.00 $1,426.74 $254,717.44
164 $254,717.44 $955.77 $0.00 $1,440.21 $257,113.42
165 $257,113.42 $955.77 $0.00 $1,453.76 $259,522.95
166 $259,522.95 $955.77 $0.00 $1,467.38 $261,946.10
167 $261,946.10 $955.77 $0.00 $1,481.08 $264,382.95
168 $264,382.95 $955.77 $0.00 $1,494.86 $266,833.58
169 $266,833.58 $955.77 $0.00 $1,508.72 $269,298.07
170 $269,298.07 $955.77 $0.00 $1,522.65 $271,776.49
171 $271,776.49 $955.77 $0.00 $1,536.66 $274,268.92
172 $274,268.92 $955.77 $0.00 $1,550.76 $276,775.45
173 $276,775.45 $955.77 $0.00 $1,564.93 $279,296.15
174 $279,296.15 $955.77 $0.00 $1,579.18 $281,831.10
175 $281,831.10 $955.77 $0.00 $1,593.51 $284,380.38
176 $284,380.38 $955.77 $0.00 $1,607.93 $286,944.08
177 $286,944.08 $955.77 $0.00 $1,622.42 $289,522.27
178 $289,522.27 $955.77 $0.00 $1,637.00 $292,115.04
179 $292,115.04 $955.77 $0.00 $1,651.66 $294,722.47
180 $294,722.47 $955.77 $0.00 $1,666.40 $297,344.64
181 $297,344.64 $955.77 $0.00 $1,681.23 $299,981.64
182 $299,981.64 $955.77 $0.00 $1,696.14 $302,633.55
183 $302,633.55 $955.77 $0.00 $1,711.13 $305,300.45
184 $305,300.45 $955.77 $0.00 $1,726.21 $307,982.43
185 $307,982.43 $955.77 $0.00 $1,741.38 $310,679.58
186 $310,679.58 $955.77 $0.00 $1,756.63 $313,391.98
187 $313,391.98 $955.77 $0.00 $1,771.96 $316,119.71
188 $316,119.71 $955.77 $0.00 $1,787.39 $318,862.87
189 $318,862.87 $955.77 $0.00 $1,802.90 $321,621.54
190 $321,621.54 $955.77 $0.00 $1,818.49 $324,395.80
191 $324,395.80 $955.77 $0.00 $1,834.18 $327,185.75
192 $327,185.75 $955.77 $0.00 $1,849.96 $329,991.48
193 $329,991.48 $955.77 $0.00 $1,865.82 $332,813.07
194 $332,813.07 $955.77 $0.00 $1,881.77 $335,650.61
195 $335,650.61 $955.77 $0.00 $1,897.82 $338,504.20
196 $338,504.20 $955.77 $0.00 $1,913.95 $341,373.92
197 $341,373.92 $955.77 $0.00 $1,930.18 $344,259.87
198 $344,259.87 $955.77 $0.00 $1,946.50 $347,162.14
199 $347,162.14 $955.77 $0.00 $1,962.91 $350,080.82
200 $350,080.82 $955.77 $0.00 $1,979.41 $353,016.00
201 $353,016.00 $955.77 $0.00 $1,996.00 $355,967.77
202 $355,967.77 $955.77 $0.00 $2,012.69 $358,936.23
203 $358,936.23 $955.77 $0.00 $2,029.48 $361,921.48
204 $361,921.48 $955.77 $0.00 $2,046.36 $364,923.61
205 $364,923.61 $955.77 $0.00 $2,063.33 $367,942.71
206 $367,942.71 $955.77 $0.00 $2,080.40 $370,978.88
207 $370,978.88 $955.77 $0.00 $2,097.57 $374,032.22
208 $374,032.22 $955.77 $0.00 $2,114.83 $377,102.82
209 $377,102.82 $955.77 $0.00 $2,132.19 $380,190.78
210 $380,190.78 $955.77 $0.00 $2,149.65 $383,296.20
211 $383,296.20 $955.77 $0.00 $2,167.21 $386,419.18
212 $386,419.18 $955.77 $0.00 $2,184.87 $389,559.82
213 $389,559.82 $955.77 $0.00 $2,202.63 $392,718.22
214 $392,718.22 $955.77 $0.00 $2,220.49 $395,894.48
215 $395,894.48 $955.77 $0.00 $2,238.44 $399,088.69
216 $399,088.69 $955.77 $0.00 $2,256.51 $402,300.97
217 $402,300.97 $955.77 $112,054.60 $2,274.67 $293,476.81
218 $293,476.81 $955.77 $0.00 $1,659.36 $296,091.94
219 $296,091.94 $955.77 $0.00 $1,674.15 $298,721.86
220 $298,721.86 $955.77 $0.00 $1,689.02 $301,366.65
221 $301,366.65 $955.77 $0.00 $1,703.97 $304,026.39
222 $304,026.39 $955.77 $0.00 $1,719.01 $306,701.17
223 $306,701.17 $955.77 $0.00 $1,734.13 $309,391.07
224 $309,391.07 $955.77 $0.00 $1,749.34 $312,096.18
225 $312,096.18 $955.77 $0.00 $1,764.64 $314,816.59
226 $314,816.59 $955.77 $0.00 $1,780.02 $317,552.38
227 $317,552.38 $955.77 $0.00 $1,795.49 $320,303.64
228 $320,303.64 $955.77 $0.00 $1,811.04 $323,070.45
229 $323,070.45 $955.77 $117,657.33 $1,826.69 $208,195.58
230 $208,195.58 $955.77 $0.00 $1,177.17 $210,328.52
231 $210,328.52 $955.77 $0.00 $1,189.23 $212,473.52
232 $212,473.52 $955.77 $0.00 $1,201.36 $214,630.65
233 $214,630.65 $955.77 $0.00 $1,213.55 $216,799.97
234 $216,799.97 $955.77 $0.00 $1,225.82 $218,981.56
235 $218,981.56 $955.77 $0.00 $1,238.15 $221,175.48
236 $221,175.48 $955.77 $0.00 $1,250.56 $223,381.81
237 $223,381.81 $955.77 $0.00 $1,263.03 $225,600.61
238 $225,600.61 $955.77 $0.00 $1,275.58 $227,831.96
239 $227,831.96 $955.77 $0.00 $1,288.20 $230,075.93
240 $230,075.93 $955.77 $0.00 $1,300.88 $232,332.58
241 $232,332.58 $955.77 $123,540.19 $1,313.64 $111,061.80
242 $111,061.80 $955.77 $0.00 $627.96 $112,645.53
243 $112,645.53 $955.77 $0.00 $636.91 $114,238.21
244 $114,238.21 $955.77 $0.00 $645.92 $115,839.90
245 $115,839.90 $955.77 $0.00 $654.98 $117,450.65
246 $117,450.65 $955.77 $0.00 $664.08 $119,070.50
247 $119,070.50 $955.77 $0.00 $673.24 $120,699.51
248 $120,699.51 $955.77 $0.00 $682.45 $122,337.73
249 $122,337.73 $955.77 $0.00 $691.72 $123,985.22
250 $123,985.22 $955.77 $0.00 $701.03 $125,642.02
251 $125,642.02 $955.77 $0.00 $710.40 $127,308.19
252 $127,308.19 $955.77 $0.00 $719.82 $128,983.78
253 $128,983.78 $0.00 $129,717.20 $729.29 ($4.13)