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 2042$121,082
Monthly savings required$957

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 $484,326.45 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $956.94 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$32,274.00
Years until enrollment18
Annual Tuition Increase7%
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 $956.94 $0.00 $0.00 $956.94
2 $956.94 $956.94 $0.00 $5.41 $1,919.29
3 $1,919.29 $956.94 $0.00 $10.85 $2,887.08
4 $2,887.08 $956.94 $0.00 $16.32 $3,860.34
5 $3,860.34 $956.94 $0.00 $21.83 $4,839.11
6 $4,839.11 $956.94 $0.00 $27.36 $5,823.41
7 $5,823.41 $956.94 $0.00 $32.93 $6,813.28
8 $6,813.28 $956.94 $0.00 $38.52 $7,808.74
9 $7,808.74 $956.94 $0.00 $44.15 $8,809.83
10 $8,809.83 $956.94 $0.00 $49.81 $9,816.58
11 $9,816.58 $956.94 $0.00 $55.50 $10,829.02
12 $10,829.02 $956.94 $0.00 $61.23 $11,847.19
13 $11,847.19 $956.94 $0.00 $66.99 $12,871.12
14 $12,871.12 $956.94 $0.00 $72.78 $13,900.84
15 $13,900.84 $956.94 $0.00 $78.60 $14,936.38
16 $14,936.38 $956.94 $0.00 $84.45 $15,977.77
17 $15,977.77 $956.94 $0.00 $90.34 $17,025.05
18 $17,025.05 $956.94 $0.00 $96.26 $18,078.25
19 $18,078.25 $956.94 $0.00 $102.22 $19,137.41
20 $19,137.41 $956.94 $0.00 $108.21 $20,202.56
21 $20,202.56 $956.94 $0.00 $114.23 $21,273.73
22 $21,273.73 $956.94 $0.00 $120.28 $22,350.95
23 $22,350.95 $956.94 $0.00 $126.38 $23,434.27
24 $23,434.27 $956.94 $0.00 $132.50 $24,523.71
25 $24,523.71 $956.94 $0.00 $138.66 $25,619.31
26 $25,619.31 $956.94 $0.00 $144.86 $26,721.11
27 $26,721.11 $956.94 $0.00 $151.09 $27,829.14
28 $27,829.14 $956.94 $0.00 $157.35 $28,943.43
29 $28,943.43 $956.94 $0.00 $163.65 $30,064.02
30 $30,064.02 $956.94 $0.00 $169.99 $31,190.95
31 $31,190.95 $956.94 $0.00 $176.36 $32,324.25
32 $32,324.25 $956.94 $0.00 $182.77 $33,463.96
33 $33,463.96 $956.94 $0.00 $189.21 $34,610.11
34 $34,610.11 $956.94 $0.00 $195.69 $35,762.74
35 $35,762.74 $956.94 $0.00 $202.21 $36,921.89
36 $36,921.89 $956.94 $0.00 $208.76 $38,087.59
37 $38,087.59 $956.94 $0.00 $215.35 $39,259.88
38 $39,259.88 $956.94 $0.00 $221.98 $40,438.80
39 $40,438.80 $956.94 $0.00 $228.65 $41,624.39
40 $41,624.39 $956.94 $0.00 $235.35 $42,816.68
41 $42,816.68 $956.94 $0.00 $242.09 $44,015.71
42 $44,015.71 $956.94 $0.00 $248.87 $45,221.52
43 $45,221.52 $956.94 $0.00 $255.69 $46,434.15
44 $46,434.15 $956.94 $0.00 $262.55 $47,653.64
45 $47,653.64 $956.94 $0.00 $269.44 $48,880.02
46 $48,880.02 $956.94 $0.00 $276.37 $50,113.33
47 $50,113.33 $956.94 $0.00 $283.35 $51,353.62
48 $51,353.62 $956.94 $0.00 $290.36 $52,600.92
49 $52,600.92 $956.94 $0.00 $297.41 $53,855.27
50 $53,855.27 $956.94 $0.00 $304.51 $55,116.72
51 $55,116.72 $956.94 $0.00 $311.64 $56,385.30
52 $56,385.30 $956.94 $0.00 $318.81 $57,661.05
53 $57,661.05 $956.94 $0.00 $326.02 $58,944.01
54 $58,944.01 $956.94 $0.00 $333.28 $60,234.23
55 $60,234.23 $956.94 $0.00 $340.57 $61,531.74
56 $61,531.74 $956.94 $0.00 $347.91 $62,836.59
57 $62,836.59 $956.94 $0.00 $355.29 $64,148.82
58 $64,148.82 $956.94 $0.00 $362.71 $65,468.47
59 $65,468.47 $956.94 $0.00 $370.17 $66,795.58
60 $66,795.58 $956.94 $0.00 $377.67 $68,130.19
61 $68,130.19 $956.94 $0.00 $385.22 $69,472.35
62 $69,472.35 $956.94 $0.00 $392.81 $70,822.10
63 $70,822.10 $956.94 $0.00 $400.44 $72,179.48
64 $72,179.48 $956.94 $0.00 $408.11 $73,544.53
65 $73,544.53 $956.94 $0.00 $415.83 $74,917.30
66 $74,917.30 $956.94 $0.00 $423.59 $76,297.83
67 $76,297.83 $956.94 $0.00 $431.40 $77,686.17
68 $77,686.17 $956.94 $0.00 $439.25 $79,082.36
69 $79,082.36 $956.94 $0.00 $447.14 $80,486.44
70 $80,486.44 $956.94 $0.00 $455.08 $81,898.46
71 $81,898.46 $956.94 $0.00 $463.07 $83,318.47
72 $83,318.47 $956.94 $0.00 $471.09 $84,746.50
73 $84,746.50 $956.94 $0.00 $479.17 $86,182.61
74 $86,182.61 $956.94 $0.00 $487.29 $87,626.84
75 $87,626.84 $956.94 $0.00 $495.45 $89,079.23
76 $89,079.23 $956.94 $0.00 $503.67 $90,539.84
77 $90,539.84 $956.94 $0.00 $511.93 $92,008.71
78 $92,008.71 $956.94 $0.00 $520.23 $93,485.88
79 $93,485.88 $956.94 $0.00 $528.58 $94,971.40
80 $94,971.40 $956.94 $0.00 $536.98 $96,465.32
81 $96,465.32 $956.94 $0.00 $545.43 $97,967.69
82 $97,967.69 $956.94 $0.00 $553.92 $99,478.55
83 $99,478.55 $956.94 $0.00 $562.47 $100,997.96
84 $100,997.96 $956.94 $0.00 $571.06 $102,525.96
85 $102,525.96 $956.94 $0.00 $579.70 $104,062.60
86 $104,062.60 $956.94 $0.00 $588.39 $105,607.93
87 $105,607.93 $956.94 $0.00 $597.12 $107,161.99
88 $107,161.99 $956.94 $0.00 $605.91 $108,724.84
89 $108,724.84 $956.94 $0.00 $614.75 $110,296.53
90 $110,296.53 $956.94 $0.00 $623.63 $111,877.10
91 $111,877.10 $956.94 $0.00 $632.57 $113,466.61
92 $113,466.61 $956.94 $0.00 $641.56 $115,065.11
93 $115,065.11 $956.94 $0.00 $650.59 $116,672.64
94 $116,672.64 $956.94 $0.00 $659.68 $118,289.26
95 $118,289.26 $956.94 $0.00 $668.82 $119,915.02
96 $119,915.02 $956.94 $0.00 $678.02 $121,549.98
97 $121,549.98 $956.94 $0.00 $687.26 $123,194.18
98 $123,194.18 $956.94 $0.00 $696.56 $124,847.68
99 $124,847.68 $956.94 $0.00 $705.91 $126,510.53
100 $126,510.53 $956.94 $0.00 $715.31 $128,182.78
101 $128,182.78 $956.94 $0.00 $724.76 $129,864.48
102 $129,864.48 $956.94 $0.00 $734.27 $131,555.69
103 $131,555.69 $956.94 $0.00 $743.83 $133,256.46
104 $133,256.46 $956.94 $0.00 $753.45 $134,966.85
105 $134,966.85 $956.94 $0.00 $763.12 $136,686.91
106 $136,686.91 $956.94 $0.00 $772.85 $138,416.70
107 $138,416.70 $956.94 $0.00 $782.63 $140,156.27
108 $140,156.27 $956.94 $0.00 $792.46 $141,905.67
109 $141,905.67 $956.94 $0.00 $802.36 $143,664.97
110 $143,664.97 $956.94 $0.00 $812.30 $145,434.21
111 $145,434.21 $956.94 $0.00 $822.31 $147,213.46
112 $147,213.46 $956.94 $0.00 $832.37 $149,002.77
113 $149,002.77 $956.94 $0.00 $842.48 $150,802.19
114 $150,802.19 $956.94 $0.00 $852.66 $152,611.79
115 $152,611.79 $956.94 $0.00 $862.89 $154,431.62
116 $154,431.62 $956.94 $0.00 $873.18 $156,261.74
117 $156,261.74 $956.94 $0.00 $883.53 $158,102.21
118 $158,102.21 $956.94 $0.00 $893.93 $159,953.08
119 $159,953.08 $956.94 $0.00 $904.40 $161,814.42
120 $161,814.42 $956.94 $0.00 $914.92 $163,686.28
121 $163,686.28 $956.94 $0.00 $925.51 $165,568.73
122 $165,568.73 $956.94 $0.00 $936.15 $167,461.82
123 $167,461.82 $956.94 $0.00 $946.85 $169,365.61
124 $169,365.61 $956.94 $0.00 $957.62 $171,280.17
125 $171,280.17 $956.94 $0.00 $968.44 $173,205.55
126 $173,205.55 $956.94 $0.00 $979.33 $175,141.82
127 $175,141.82 $956.94 $0.00 $990.28 $177,089.04
128 $177,089.04 $956.94 $0.00 $1,001.29 $179,047.27
129 $179,047.27 $956.94 $0.00 $1,012.36 $181,016.57
130 $181,016.57 $956.94 $0.00 $1,023.49 $182,997.00
131 $182,997.00 $956.94 $0.00 $1,034.69 $184,988.63
132 $184,988.63 $956.94 $0.00 $1,045.95 $186,991.52
133 $186,991.52 $956.94 $0.00 $1,057.28 $189,005.74
134 $189,005.74 $956.94 $0.00 $1,068.67 $191,031.35
135 $191,031.35 $956.94 $0.00 $1,080.12 $193,068.41
136 $193,068.41 $956.94 $0.00 $1,091.64 $195,116.99
137 $195,116.99 $956.94 $0.00 $1,103.22 $197,177.15
138 $197,177.15 $956.94 $0.00 $1,114.87 $199,248.96
139 $199,248.96 $956.94 $0.00 $1,126.58 $201,332.48
140 $201,332.48 $956.94 $0.00 $1,138.36 $203,427.78
141 $203,427.78 $956.94 $0.00 $1,150.21 $205,534.93
142 $205,534.93 $956.94 $0.00 $1,162.12 $207,653.99
143 $207,653.99 $956.94 $0.00 $1,174.11 $209,785.04
144 $209,785.04 $956.94 $0.00 $1,186.16 $211,928.14
145 $211,928.14 $956.94 $0.00 $1,198.27 $214,083.35
146 $214,083.35 $956.94 $0.00 $1,210.46 $216,250.75
147 $216,250.75 $956.94 $0.00 $1,222.71 $218,430.40
148 $218,430.40 $956.94 $0.00 $1,235.04 $220,622.38
149 $220,622.38 $956.94 $0.00 $1,247.43 $222,826.75
150 $222,826.75 $956.94 $0.00 $1,259.89 $225,043.58
151 $225,043.58 $956.94 $0.00 $1,272.43 $227,272.95
152 $227,272.95 $956.94 $0.00 $1,285.03 $229,514.92
153 $229,514.92 $956.94 $0.00 $1,297.71 $231,769.57
154 $231,769.57 $956.94 $0.00 $1,310.46 $234,036.97
155 $234,036.97 $956.94 $0.00 $1,323.28 $236,317.19
156 $236,317.19 $956.94 $0.00 $1,336.17 $238,610.30
157 $238,610.30 $956.94 $0.00 $1,349.14 $240,916.38
158 $240,916.38 $956.94 $0.00 $1,362.18 $243,235.50
159 $243,235.50 $956.94 $0.00 $1,375.29 $245,567.73
160 $245,567.73 $956.94 $0.00 $1,388.48 $247,913.15
161 $247,913.15 $956.94 $0.00 $1,401.74 $250,271.83
162 $250,271.83 $956.94 $0.00 $1,415.07 $252,643.84
163 $252,643.84 $956.94 $0.00 $1,428.49 $255,029.27
164 $255,029.27 $956.94 $0.00 $1,441.97 $257,428.18
165 $257,428.18 $956.94 $0.00 $1,455.54 $259,840.66
166 $259,840.66 $956.94 $0.00 $1,469.18 $262,266.78
167 $262,266.78 $956.94 $0.00 $1,482.89 $264,706.61
168 $264,706.61 $956.94 $0.00 $1,496.69 $267,160.24
169 $267,160.24 $956.94 $0.00 $1,510.56 $269,627.74
170 $269,627.74 $956.94 $0.00 $1,524.51 $272,109.19
171 $272,109.19 $956.94 $0.00 $1,538.54 $274,604.67
172 $274,604.67 $956.94 $0.00 $1,552.65 $277,114.26
173 $277,114.26 $956.94 $0.00 $1,566.84 $279,638.04
174 $279,638.04 $956.94 $0.00 $1,581.11 $282,176.09
175 $282,176.09 $956.94 $0.00 $1,595.46 $284,728.49
176 $284,728.49 $956.94 $0.00 $1,609.90 $287,295.33
177 $287,295.33 $956.94 $0.00 $1,624.41 $289,876.68
178 $289,876.68 $956.94 $0.00 $1,639.00 $292,472.62
179 $292,472.62 $956.94 $0.00 $1,653.68 $295,083.24
180 $295,083.24 $956.94 $0.00 $1,668.44 $297,708.62
181 $297,708.62 $956.94 $0.00 $1,683.29 $300,348.85
182 $300,348.85 $956.94 $0.00 $1,698.22 $303,004.01
183 $303,004.01 $956.94 $0.00 $1,713.23 $305,674.18
184 $305,674.18 $956.94 $0.00 $1,728.33 $308,359.45
185 $308,359.45 $956.94 $0.00 $1,743.51 $311,059.90
186 $311,059.90 $956.94 $0.00 $1,758.78 $313,775.62
187 $313,775.62 $956.94 $0.00 $1,774.13 $316,506.69
188 $316,506.69 $956.94 $0.00 $1,789.57 $319,253.20
189 $319,253.20 $956.94 $0.00 $1,805.10 $322,015.24
190 $322,015.24 $956.94 $0.00 $1,820.72 $324,792.90
191 $324,792.90 $956.94 $0.00 $1,836.43 $327,586.27
192 $327,586.27 $956.94 $0.00 $1,852.22 $330,395.43
193 $330,395.43 $956.94 $0.00 $1,868.10 $333,220.47
194 $333,220.47 $956.94 $0.00 $1,884.08 $336,061.49
195 $336,061.49 $956.94 $0.00 $1,900.14 $338,918.57
196 $338,918.57 $956.94 $0.00 $1,916.29 $341,791.80
197 $341,791.80 $956.94 $0.00 $1,932.54 $344,681.28
198 $344,681.28 $956.94 $0.00 $1,948.88 $347,587.10
199 $347,587.10 $956.94 $0.00 $1,965.31 $350,509.35
200 $350,509.35 $956.94 $0.00 $1,981.83 $353,448.12
201 $353,448.12 $956.94 $0.00 $1,998.45 $356,403.51
202 $356,403.51 $956.94 $0.00 $2,015.16 $359,375.61
203 $359,375.61 $956.94 $0.00 $2,031.96 $362,364.51
204 $362,364.51 $956.94 $0.00 $2,048.86 $365,370.31
205 $365,370.31 $956.94 $0.00 $2,065.86 $368,393.11
206 $368,393.11 $956.94 $0.00 $2,082.95 $371,433.00
207 $371,433.00 $956.94 $0.00 $2,100.14 $374,490.08
208 $374,490.08 $956.94 $0.00 $2,117.42 $377,564.44
209 $377,564.44 $956.94 $0.00 $2,134.80 $380,656.18
210 $380,656.18 $956.94 $0.00 $2,152.29 $383,765.41
211 $383,765.41 $956.94 $0.00 $2,169.87 $386,892.22
212 $386,892.22 $956.94 $0.00 $2,187.54 $390,036.70
213 $390,036.70 $956.94 $0.00 $2,205.32 $393,198.96
214 $393,198.96 $956.94 $0.00 $2,223.20 $396,379.10
215 $396,379.10 $956.94 $0.00 $2,241.19 $399,577.23
216 $399,577.23 $956.94 $0.00 $2,259.27 $402,793.44
217 $402,793.44 $956.94 $109,083.93 $2,277.45 $296,943.90
218 $296,943.90 $956.94 $0.00 $1,678.96 $299,579.80
219 $299,579.80 $956.94 $0.00 $1,693.87 $302,230.61
220 $302,230.61 $956.94 $0.00 $1,708.86 $304,896.41
221 $304,896.41 $956.94 $0.00 $1,723.93 $307,577.28
222 $307,577.28 $956.94 $0.00 $1,739.09 $310,273.31
223 $310,273.31 $956.94 $0.00 $1,754.33 $312,984.58
224 $312,984.58 $956.94 $0.00 $1,769.66 $315,711.18
225 $315,711.18 $956.94 $0.00 $1,785.08 $318,453.20
226 $318,453.20 $956.94 $0.00 $1,800.58 $321,210.72
227 $321,210.72 $956.94 $0.00 $1,816.17 $323,983.83
228 $323,983.83 $956.94 $0.00 $1,831.85 $326,772.62
229 $326,772.62 $956.94 $116,719.81 $1,847.62 $212,857.37
230 $212,857.37 $956.94 $0.00 $1,203.53 $215,017.84
231 $215,017.84 $956.94 $0.00 $1,215.74 $217,190.52
232 $217,190.52 $956.94 $0.00 $1,228.03 $219,375.49
233 $219,375.49 $956.94 $0.00 $1,240.38 $221,572.81
234 $221,572.81 $956.94 $0.00 $1,252.80 $223,782.55
235 $223,782.55 $956.94 $0.00 $1,265.30 $226,004.79
236 $226,004.79 $956.94 $0.00 $1,277.86 $228,239.59
237 $228,239.59 $956.94 $0.00 $1,290.50 $230,487.03
238 $230,487.03 $956.94 $0.00 $1,303.21 $232,747.18
239 $232,747.18 $956.94 $0.00 $1,315.99 $235,020.11
240 $235,020.11 $956.94 $0.00 $1,328.84 $237,305.89
241 $237,305.89 $956.94 $124,890.20 $1,341.76 $114,714.39
242 $114,714.39 $956.94 $0.00 $648.61 $116,319.94
243 $116,319.94 $956.94 $0.00 $657.69 $117,934.57
244 $117,934.57 $956.94 $0.00 $666.82 $119,558.33
245 $119,558.33 $956.94 $0.00 $676.00 $121,191.27
246 $121,191.27 $956.94 $0.00 $685.23 $122,833.44
247 $122,833.44 $956.94 $0.00 $694.52 $124,484.90
248 $124,484.90 $956.94 $0.00 $703.86 $126,145.70
249 $126,145.70 $956.94 $0.00 $713.25 $127,815.89
250 $127,815.89 $956.94 $0.00 $722.69 $129,495.52
251 $129,495.52 $956.94 $0.00 $732.19 $131,184.65
252 $131,184.65 $956.94 $0.00 $741.74 $132,883.33
253 $132,883.33 $0.00 $133,632.51 $751.34 $2.16