Savings Plan and Future Cost Estimation for VanderCook College of Music

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$144,440
Monthly savings required$1,142

How much will it cost to send your child to VanderCook College of Music in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $577,758.21 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,141.53 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$38,500.00
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 $1,141.53 $0.00 $0.00 $1,141.53
2 $1,141.53 $1,141.53 $0.00 $6.45 $2,289.51
3 $2,289.51 $1,141.53 $0.00 $12.95 $3,443.99
4 $3,443.99 $1,141.53 $0.00 $19.47 $4,604.99
5 $4,604.99 $1,141.53 $0.00 $26.04 $5,772.56
6 $5,772.56 $1,141.53 $0.00 $32.64 $6,946.73
7 $6,946.73 $1,141.53 $0.00 $39.28 $8,127.54
8 $8,127.54 $1,141.53 $0.00 $45.95 $9,315.02
9 $9,315.02 $1,141.53 $0.00 $52.67 $10,509.22
10 $10,509.22 $1,141.53 $0.00 $59.42 $11,710.17
11 $11,710.17 $1,141.53 $0.00 $66.21 $12,917.91
12 $12,917.91 $1,141.53 $0.00 $73.04 $14,132.48
13 $14,132.48 $1,141.53 $0.00 $79.91 $15,353.92
14 $15,353.92 $1,141.53 $0.00 $86.81 $16,582.26
15 $16,582.26 $1,141.53 $0.00 $93.76 $17,817.55
16 $17,817.55 $1,141.53 $0.00 $100.74 $19,059.82
17 $19,059.82 $1,141.53 $0.00 $107.77 $20,309.12
18 $20,309.12 $1,141.53 $0.00 $114.83 $21,565.48
19 $21,565.48 $1,141.53 $0.00 $121.93 $22,828.94
20 $22,828.94 $1,141.53 $0.00 $129.08 $24,099.55
21 $24,099.55 $1,141.53 $0.00 $136.26 $25,377.34
22 $25,377.34 $1,141.53 $0.00 $143.49 $26,662.36
23 $26,662.36 $1,141.53 $0.00 $150.75 $27,954.64
24 $27,954.64 $1,141.53 $0.00 $158.06 $29,254.23
25 $29,254.23 $1,141.53 $0.00 $165.41 $30,561.17
26 $30,561.17 $1,141.53 $0.00 $172.80 $31,875.50
27 $31,875.50 $1,141.53 $0.00 $180.23 $33,197.26
28 $33,197.26 $1,141.53 $0.00 $187.70 $34,526.49
29 $34,526.49 $1,141.53 $0.00 $195.22 $35,863.24
30 $35,863.24 $1,141.53 $0.00 $202.78 $37,207.55
31 $37,207.55 $1,141.53 $0.00 $210.38 $38,559.46
32 $38,559.46 $1,141.53 $0.00 $218.02 $39,919.01
33 $39,919.01 $1,141.53 $0.00 $225.71 $41,286.25
34 $41,286.25 $1,141.53 $0.00 $233.44 $42,661.22
35 $42,661.22 $1,141.53 $0.00 $241.21 $44,043.96
36 $44,043.96 $1,141.53 $0.00 $249.03 $45,434.52
37 $45,434.52 $1,141.53 $0.00 $256.89 $46,832.94
38 $46,832.94 $1,141.53 $0.00 $264.80 $48,239.27
39 $48,239.27 $1,141.53 $0.00 $272.75 $49,653.55
40 $49,653.55 $1,141.53 $0.00 $280.75 $51,075.83
41 $51,075.83 $1,141.53 $0.00 $288.79 $52,506.15
42 $52,506.15 $1,141.53 $0.00 $296.88 $53,944.56
43 $53,944.56 $1,141.53 $0.00 $305.01 $55,391.10
44 $55,391.10 $1,141.53 $0.00 $313.19 $56,845.82
45 $56,845.82 $1,141.53 $0.00 $321.41 $58,308.76
46 $58,308.76 $1,141.53 $0.00 $329.69 $59,779.98
47 $59,779.98 $1,141.53 $0.00 $338.00 $61,259.51
48 $61,259.51 $1,141.53 $0.00 $346.37 $62,747.41
49 $62,747.41 $1,141.53 $0.00 $354.78 $64,243.72
50 $64,243.72 $1,141.53 $0.00 $363.24 $65,748.49
51 $65,748.49 $1,141.53 $0.00 $371.75 $67,261.77
52 $67,261.77 $1,141.53 $0.00 $380.31 $68,783.61
53 $68,783.61 $1,141.53 $0.00 $388.91 $70,314.05
54 $70,314.05 $1,141.53 $0.00 $397.57 $71,853.15
55 $71,853.15 $1,141.53 $0.00 $406.27 $73,400.95
56 $73,400.95 $1,141.53 $0.00 $415.02 $74,957.50
57 $74,957.50 $1,141.53 $0.00 $423.82 $76,522.85
58 $76,522.85 $1,141.53 $0.00 $432.67 $78,097.05
59 $78,097.05 $1,141.53 $0.00 $441.57 $79,680.15
60 $79,680.15 $1,141.53 $0.00 $450.52 $81,272.20
61 $81,272.20 $1,141.53 $0.00 $459.52 $82,873.25
62 $82,873.25 $1,141.53 $0.00 $468.58 $84,483.36
63 $84,483.36 $1,141.53 $0.00 $477.68 $86,102.57
64 $86,102.57 $1,141.53 $0.00 $486.84 $87,730.94
65 $87,730.94 $1,141.53 $0.00 $496.04 $89,368.51
66 $89,368.51 $1,141.53 $0.00 $505.30 $91,015.34
67 $91,015.34 $1,141.53 $0.00 $514.61 $92,671.48
68 $92,671.48 $1,141.53 $0.00 $523.98 $94,336.99
69 $94,336.99 $1,141.53 $0.00 $533.40 $96,011.92
70 $96,011.92 $1,141.53 $0.00 $542.87 $97,696.32
71 $97,696.32 $1,141.53 $0.00 $552.39 $99,390.24
72 $99,390.24 $1,141.53 $0.00 $561.97 $101,093.74
73 $101,093.74 $1,141.53 $0.00 $571.60 $102,806.87
74 $102,806.87 $1,141.53 $0.00 $581.28 $104,529.68
75 $104,529.68 $1,141.53 $0.00 $591.03 $106,262.24
76 $106,262.24 $1,141.53 $0.00 $600.82 $108,004.59
77 $108,004.59 $1,141.53 $0.00 $610.67 $109,756.79
78 $109,756.79 $1,141.53 $0.00 $620.58 $111,518.90
79 $111,518.90 $1,141.53 $0.00 $630.54 $113,290.97
80 $113,290.97 $1,141.53 $0.00 $640.56 $115,073.06
81 $115,073.06 $1,141.53 $0.00 $650.64 $116,865.23
82 $116,865.23 $1,141.53 $0.00 $660.77 $118,667.53
83 $118,667.53 $1,141.53 $0.00 $670.96 $120,480.02
84 $120,480.02 $1,141.53 $0.00 $681.21 $122,302.76
85 $122,302.76 $1,141.53 $0.00 $691.52 $124,135.81
86 $124,135.81 $1,141.53 $0.00 $701.88 $125,979.22
87 $125,979.22 $1,141.53 $0.00 $712.30 $127,833.05
88 $127,833.05 $1,141.53 $0.00 $722.79 $129,697.37
89 $129,697.37 $1,141.53 $0.00 $733.33 $131,572.23
90 $131,572.23 $1,141.53 $0.00 $743.93 $133,457.69
91 $133,457.69 $1,141.53 $0.00 $754.59 $135,353.81
92 $135,353.81 $1,141.53 $0.00 $765.31 $137,260.65
93 $137,260.65 $1,141.53 $0.00 $776.09 $139,178.27
94 $139,178.27 $1,141.53 $0.00 $786.93 $141,106.73
95 $141,106.73 $1,141.53 $0.00 $797.84 $143,046.10
96 $143,046.10 $1,141.53 $0.00 $808.80 $144,996.43
97 $144,996.43 $1,141.53 $0.00 $819.83 $146,957.79
98 $146,957.79 $1,141.53 $0.00 $830.92 $148,930.24
99 $148,930.24 $1,141.53 $0.00 $842.07 $150,913.84
100 $150,913.84 $1,141.53 $0.00 $853.29 $152,908.66
101 $152,908.66 $1,141.53 $0.00 $864.57 $154,914.76
102 $154,914.76 $1,141.53 $0.00 $875.91 $156,932.20
103 $156,932.20 $1,141.53 $0.00 $887.32 $158,961.05
104 $158,961.05 $1,141.53 $0.00 $898.79 $161,001.37
105 $161,001.37 $1,141.53 $0.00 $910.33 $163,053.23
106 $163,053.23 $1,141.53 $0.00 $921.93 $165,116.69
107 $165,116.69 $1,141.53 $0.00 $933.59 $167,191.81
108 $167,191.81 $1,141.53 $0.00 $945.33 $169,278.67
109 $169,278.67 $1,141.53 $0.00 $957.13 $171,377.33
110 $171,377.33 $1,141.53 $0.00 $968.99 $173,487.85
111 $173,487.85 $1,141.53 $0.00 $980.93 $175,610.31
112 $175,610.31 $1,141.53 $0.00 $992.93 $177,744.77
113 $177,744.77 $1,141.53 $0.00 $1,004.99 $179,891.29
114 $179,891.29 $1,141.53 $0.00 $1,017.13 $182,049.95
115 $182,049.95 $1,141.53 $0.00 $1,029.34 $184,220.82
116 $184,220.82 $1,141.53 $0.00 $1,041.61 $186,403.96
117 $186,403.96 $1,141.53 $0.00 $1,053.96 $188,599.45
118 $188,599.45 $1,141.53 $0.00 $1,066.37 $190,807.35
119 $190,807.35 $1,141.53 $0.00 $1,078.85 $193,027.73
120 $193,027.73 $1,141.53 $0.00 $1,091.41 $195,260.67
121 $195,260.67 $1,141.53 $0.00 $1,104.03 $197,506.23
122 $197,506.23 $1,141.53 $0.00 $1,116.73 $199,764.49
123 $199,764.49 $1,141.53 $0.00 $1,129.50 $202,035.52
124 $202,035.52 $1,141.53 $0.00 $1,142.34 $204,319.39
125 $204,319.39 $1,141.53 $0.00 $1,155.25 $206,616.17
126 $206,616.17 $1,141.53 $0.00 $1,168.24 $208,925.94
127 $208,925.94 $1,141.53 $0.00 $1,181.30 $211,248.77
128 $211,248.77 $1,141.53 $0.00 $1,194.43 $213,584.73
129 $213,584.73 $1,141.53 $0.00 $1,207.64 $215,933.90
130 $215,933.90 $1,141.53 $0.00 $1,220.92 $218,296.35
131 $218,296.35 $1,141.53 $0.00 $1,234.28 $220,672.16
132 $220,672.16 $1,141.53 $0.00 $1,247.71 $223,061.40
133 $223,061.40 $1,141.53 $0.00 $1,261.22 $225,464.15
134 $225,464.15 $1,141.53 $0.00 $1,274.81 $227,880.49
135 $227,880.49 $1,141.53 $0.00 $1,288.47 $230,310.49
136 $230,310.49 $1,141.53 $0.00 $1,302.21 $232,754.23
137 $232,754.23 $1,141.53 $0.00 $1,316.03 $235,211.79
138 $235,211.79 $1,141.53 $0.00 $1,329.92 $237,683.24
139 $237,683.24 $1,141.53 $0.00 $1,343.90 $240,168.67
140 $240,168.67 $1,141.53 $0.00 $1,357.95 $242,668.15
141 $242,668.15 $1,141.53 $0.00 $1,372.08 $245,181.76
142 $245,181.76 $1,141.53 $0.00 $1,386.29 $247,709.58
143 $247,709.58 $1,141.53 $0.00 $1,400.59 $250,251.70
144 $250,251.70 $1,141.53 $0.00 $1,414.96 $252,808.19
145 $252,808.19 $1,141.53 $0.00 $1,429.41 $255,379.13
146 $255,379.13 $1,141.53 $0.00 $1,443.95 $257,964.61
147 $257,964.61 $1,141.53 $0.00 $1,458.57 $260,564.71
148 $260,564.71 $1,141.53 $0.00 $1,473.27 $263,179.51
149 $263,179.51 $1,141.53 $0.00 $1,488.06 $265,809.10
150 $265,809.10 $1,141.53 $0.00 $1,502.92 $268,453.55
151 $268,453.55 $1,141.53 $0.00 $1,517.88 $271,112.96
152 $271,112.96 $1,141.53 $0.00 $1,532.91 $273,787.40
153 $273,787.40 $1,141.53 $0.00 $1,548.03 $276,476.96
154 $276,476.96 $1,141.53 $0.00 $1,563.24 $279,181.73
155 $279,181.73 $1,141.53 $0.00 $1,578.53 $281,901.79
156 $281,901.79 $1,141.53 $0.00 $1,593.91 $284,637.23
157 $284,637.23 $1,141.53 $0.00 $1,609.38 $287,388.14
158 $287,388.14 $1,141.53 $0.00 $1,624.93 $290,154.60
159 $290,154.60 $1,141.53 $0.00 $1,640.58 $292,936.71
160 $292,936.71 $1,141.53 $0.00 $1,656.31 $295,734.55
161 $295,734.55 $1,141.53 $0.00 $1,672.13 $298,548.21
162 $298,548.21 $1,141.53 $0.00 $1,688.03 $301,377.77
163 $301,377.77 $1,141.53 $0.00 $1,704.03 $304,223.33
164 $304,223.33 $1,141.53 $0.00 $1,720.12 $307,084.98
165 $307,084.98 $1,141.53 $0.00 $1,736.30 $309,962.81
166 $309,962.81 $1,141.53 $0.00 $1,752.57 $312,856.91
167 $312,856.91 $1,141.53 $0.00 $1,768.94 $315,767.38
168 $315,767.38 $1,141.53 $0.00 $1,785.39 $318,694.30
169 $318,694.30 $1,141.53 $0.00 $1,801.94 $321,637.77
170 $321,637.77 $1,141.53 $0.00 $1,818.59 $324,597.89
171 $324,597.89 $1,141.53 $0.00 $1,835.32 $327,574.74
172 $327,574.74 $1,141.53 $0.00 $1,852.16 $330,568.43
173 $330,568.43 $1,141.53 $0.00 $1,869.08 $333,579.04
174 $333,579.04 $1,141.53 $0.00 $1,886.10 $336,606.67
175 $336,606.67 $1,141.53 $0.00 $1,903.22 $339,651.42
176 $339,651.42 $1,141.53 $0.00 $1,920.44 $342,713.39
177 $342,713.39 $1,141.53 $0.00 $1,937.75 $345,792.67
178 $345,792.67 $1,141.53 $0.00 $1,955.16 $348,889.36
179 $348,889.36 $1,141.53 $0.00 $1,972.67 $352,003.56
180 $352,003.56 $1,141.53 $0.00 $1,990.28 $355,135.37
181 $355,135.37 $1,141.53 $0.00 $2,007.99 $358,284.89
182 $358,284.89 $1,141.53 $0.00 $2,025.79 $361,452.21
183 $361,452.21 $1,141.53 $0.00 $2,043.70 $364,637.44
184 $364,637.44 $1,141.53 $0.00 $2,061.71 $367,840.68
185 $367,840.68 $1,141.53 $0.00 $2,079.82 $371,062.03
186 $371,062.03 $1,141.53 $0.00 $2,098.04 $374,301.60
187 $374,301.60 $1,141.53 $0.00 $2,116.36 $377,559.49
188 $377,559.49 $1,141.53 $0.00 $2,134.78 $380,835.80
189 $380,835.80 $1,141.53 $0.00 $2,153.30 $384,130.63
190 $384,130.63 $1,141.53 $0.00 $2,171.93 $387,444.09
191 $387,444.09 $1,141.53 $0.00 $2,190.67 $390,776.29
192 $390,776.29 $1,141.53 $0.00 $2,209.51 $394,127.33
193 $394,127.33 $1,141.53 $0.00 $2,228.45 $397,497.31
194 $397,497.31 $1,141.53 $0.00 $2,247.51 $400,886.35
195 $400,886.35 $1,141.53 $0.00 $2,266.67 $404,294.55
196 $404,294.55 $1,141.53 $0.00 $2,285.94 $407,722.02
197 $407,722.02 $1,141.53 $0.00 $2,305.32 $411,168.87
198 $411,168.87 $1,141.53 $0.00 $2,324.81 $414,635.21
199 $414,635.21 $1,141.53 $0.00 $2,344.41 $418,121.15
200 $418,121.15 $1,141.53 $0.00 $2,364.12 $421,626.80
201 $421,626.80 $1,141.53 $0.00 $2,383.94 $425,152.27
202 $425,152.27 $1,141.53 $0.00 $2,403.87 $428,697.67
203 $428,697.67 $1,141.53 $0.00 $2,423.92 $432,263.12
204 $432,263.12 $1,141.53 $0.00 $2,444.08 $435,848.73
205 $435,848.73 $1,141.53 $0.00 $2,464.35 $439,454.61
206 $439,454.61 $1,141.53 $0.00 $2,484.74 $443,080.88
207 $443,080.88 $1,141.53 $0.00 $2,505.24 $446,727.65
208 $446,727.65 $1,141.53 $0.00 $2,525.86 $450,395.04
209 $450,395.04 $1,141.53 $0.00 $2,546.60 $454,083.17
210 $454,083.17 $1,141.53 $0.00 $2,567.45 $457,792.15
211 $457,792.15 $1,141.53 $0.00 $2,588.42 $461,522.10
212 $461,522.10 $1,141.53 $0.00 $2,609.51 $465,273.14
213 $465,273.14 $1,141.53 $0.00 $2,630.72 $469,045.39
214 $469,045.39 $1,141.53 $0.00 $2,652.05 $472,838.97
215 $472,838.97 $1,141.53 $0.00 $2,673.50 $476,654.00
216 $476,654.00 $1,141.53 $0.00 $2,695.07 $480,490.60
217 $480,490.60 $1,141.53 $130,127.39 $2,716.76 $354,221.50
218 $354,221.50 $1,141.53 $0.00 $2,002.82 $357,365.85
219 $357,365.85 $1,141.53 $0.00 $2,020.60 $360,527.98
220 $360,527.98 $1,141.53 $0.00 $2,038.48 $363,707.99
221 $363,707.99 $1,141.53 $0.00 $2,056.46 $366,905.98
222 $366,905.98 $1,141.53 $0.00 $2,074.54 $370,122.05
223 $370,122.05 $1,141.53 $0.00 $2,092.72 $373,356.30
224 $373,356.30 $1,141.53 $0.00 $2,111.01 $376,608.84
225 $376,608.84 $1,141.53 $0.00 $2,129.40 $379,879.77
226 $379,879.77 $1,141.53 $0.00 $2,147.90 $383,169.20
227 $383,169.20 $1,141.53 $0.00 $2,166.49 $386,477.22
228 $386,477.22 $1,141.53 $0.00 $2,185.20 $389,803.95
229 $389,803.95 $1,141.53 $139,236.31 $2,204.01 $253,913.18
230 $253,913.18 $1,141.53 $0.00 $1,435.66 $256,490.37
231 $256,490.37 $1,141.53 $0.00 $1,450.23 $259,082.13
232 $259,082.13 $1,141.53 $0.00 $1,464.89 $261,688.55
233 $261,688.55 $1,141.53 $0.00 $1,479.63 $264,309.71
234 $264,309.71 $1,141.53 $0.00 $1,494.45 $266,945.69
235 $266,945.69 $1,141.53 $0.00 $1,509.35 $269,596.57
236 $269,596.57 $1,141.53 $0.00 $1,524.34 $272,262.44
237 $272,262.44 $1,141.53 $0.00 $1,539.41 $274,943.38
238 $274,943.38 $1,141.53 $0.00 $1,554.57 $277,639.48
239 $277,639.48 $1,141.53 $0.00 $1,569.81 $280,350.82
240 $280,350.82 $1,141.53 $0.00 $1,585.14 $283,077.49
241 $283,077.49 $1,141.53 $148,982.85 $1,600.56 $136,836.73
242 $136,836.73 $1,141.53 $0.00 $773.69 $138,751.95
243 $138,751.95 $1,141.53 $0.00 $784.52 $140,678.00
244 $140,678.00 $1,141.53 $0.00 $795.41 $142,614.94
245 $142,614.94 $1,141.53 $0.00 $806.37 $144,562.84
246 $144,562.84 $1,141.53 $0.00 $817.38 $146,521.75
247 $146,521.75 $1,141.53 $0.00 $828.46 $148,491.74
248 $148,491.74 $1,141.53 $0.00 $839.59 $150,472.86
249 $150,472.86 $1,141.53 $0.00 $850.80 $152,465.19
250 $152,465.19 $1,141.53 $0.00 $862.06 $154,468.78
251 $154,468.78 $1,141.53 $0.00 $873.39 $156,483.70
252 $156,483.70 $1,141.53 $0.00 $884.78 $158,510.01
253 $158,510.01 $0.00 $159,411.65 $896.24 -$5.40