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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$171,567
Monthly savings required$1,358

How much will it cost to send your child to Otis College of Art and Design in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $686,266.41 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,358.11 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$66,160.00
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 $1,358.11 $0.00 $0.00 $1,358.11
2 $1,358.11 $1,358.11 $0.00 $7.68 $2,723.90
3 $2,723.90 $1,358.11 $0.00 $15.40 $4,097.41
4 $4,097.41 $1,358.11 $0.00 $23.17 $5,478.69
5 $5,478.69 $1,358.11 $0.00 $30.98 $6,867.78
6 $6,867.78 $1,358.11 $0.00 $38.83 $8,264.72
7 $8,264.72 $1,358.11 $0.00 $46.73 $9,669.56
8 $9,669.56 $1,358.11 $0.00 $54.67 $11,082.34
9 $11,082.34 $1,358.11 $0.00 $62.66 $12,503.11
10 $12,503.11 $1,358.11 $0.00 $70.69 $13,931.91
11 $13,931.91 $1,358.11 $0.00 $78.77 $15,368.79
12 $15,368.79 $1,358.11 $0.00 $86.90 $16,813.80
13 $16,813.80 $1,358.11 $0.00 $95.07 $18,266.98
14 $18,266.98 $1,358.11 $0.00 $103.28 $19,728.37
15 $19,728.37 $1,358.11 $0.00 $111.55 $21,198.03
16 $21,198.03 $1,358.11 $0.00 $119.86 $22,676.00
17 $22,676.00 $1,358.11 $0.00 $128.21 $24,162.32
18 $24,162.32 $1,358.11 $0.00 $136.62 $25,657.05
19 $25,657.05 $1,358.11 $0.00 $145.07 $27,160.23
20 $27,160.23 $1,358.11 $0.00 $153.57 $28,671.91
21 $28,671.91 $1,358.11 $0.00 $162.12 $30,192.14
22 $30,192.14 $1,358.11 $0.00 $170.71 $31,720.96
23 $31,720.96 $1,358.11 $0.00 $179.35 $33,258.42
24 $33,258.42 $1,358.11 $0.00 $188.05 $34,804.58
25 $34,804.58 $1,358.11 $0.00 $196.79 $36,359.48
26 $36,359.48 $1,358.11 $0.00 $205.58 $37,923.17
27 $37,923.17 $1,358.11 $0.00 $214.42 $39,495.70
28 $39,495.70 $1,358.11 $0.00 $223.31 $41,077.12
29 $41,077.12 $1,358.11 $0.00 $232.26 $42,667.49
30 $42,667.49 $1,358.11 $0.00 $241.25 $44,266.85
31 $44,266.85 $1,358.11 $0.00 $250.29 $45,875.25
32 $45,875.25 $1,358.11 $0.00 $259.39 $47,492.75
33 $47,492.75 $1,358.11 $0.00 $268.53 $49,119.39
34 $49,119.39 $1,358.11 $0.00 $277.73 $50,755.23
35 $50,755.23 $1,358.11 $0.00 $286.98 $52,400.32
36 $52,400.32 $1,358.11 $0.00 $296.28 $54,054.71
37 $54,054.71 $1,358.11 $0.00 $305.63 $55,718.45
38 $55,718.45 $1,358.11 $0.00 $315.04 $57,391.60
39 $57,391.60 $1,358.11 $0.00 $324.50 $59,074.21
40 $59,074.21 $1,358.11 $0.00 $334.01 $60,766.33
41 $60,766.33 $1,358.11 $0.00 $343.58 $62,468.02
42 $62,468.02 $1,358.11 $0.00 $353.20 $64,179.33
43 $64,179.33 $1,358.11 $0.00 $362.88 $65,900.32
44 $65,900.32 $1,358.11 $0.00 $372.61 $67,631.04
45 $67,631.04 $1,358.11 $0.00 $382.40 $69,371.55
46 $69,371.55 $1,358.11 $0.00 $392.24 $71,121.90
47 $71,121.90 $1,358.11 $0.00 $402.13 $72,882.14
48 $72,882.14 $1,358.11 $0.00 $412.09 $74,652.34
49 $74,652.34 $1,358.11 $0.00 $422.10 $76,432.55
50 $76,432.55 $1,358.11 $0.00 $432.16 $78,222.82
51 $78,222.82 $1,358.11 $0.00 $442.28 $80,023.21
52 $80,023.21 $1,358.11 $0.00 $452.46 $81,833.78
53 $81,833.78 $1,358.11 $0.00 $462.70 $83,654.59
54 $83,654.59 $1,358.11 $0.00 $473.00 $85,485.70
55 $85,485.70 $1,358.11 $0.00 $483.35 $87,327.16
56 $87,327.16 $1,358.11 $0.00 $493.76 $89,179.03
57 $89,179.03 $1,358.11 $0.00 $504.23 $91,041.37
58 $91,041.37 $1,358.11 $0.00 $514.76 $92,914.24
59 $92,914.24 $1,358.11 $0.00 $525.35 $94,797.70
60 $94,797.70 $1,358.11 $0.00 $536.00 $96,691.81
61 $96,691.81 $1,358.11 $0.00 $546.71 $98,596.63
62 $98,596.63 $1,358.11 $0.00 $557.48 $100,512.22
63 $100,512.22 $1,358.11 $0.00 $568.31 $102,438.64
64 $102,438.64 $1,358.11 $0.00 $579.20 $104,375.95
65 $104,375.95 $1,358.11 $0.00 $590.16 $106,324.22
66 $106,324.22 $1,358.11 $0.00 $601.17 $108,283.50
67 $108,283.50 $1,358.11 $0.00 $612.25 $110,253.86
68 $110,253.86 $1,358.11 $0.00 $623.39 $112,235.36
69 $112,235.36 $1,358.11 $0.00 $634.60 $114,228.07
70 $114,228.07 $1,358.11 $0.00 $645.86 $116,232.04
71 $116,232.04 $1,358.11 $0.00 $657.19 $118,247.34
72 $118,247.34 $1,358.11 $0.00 $668.59 $120,274.04
73 $120,274.04 $1,358.11 $0.00 $680.05 $122,312.20
74 $122,312.20 $1,358.11 $0.00 $691.57 $124,361.88
75 $124,361.88 $1,358.11 $0.00 $703.16 $126,423.15
76 $126,423.15 $1,358.11 $0.00 $714.81 $128,496.07
77 $128,496.07 $1,358.11 $0.00 $726.54 $130,580.72
78 $130,580.72 $1,358.11 $0.00 $738.32 $132,677.15
79 $132,677.15 $1,358.11 $0.00 $750.18 $134,785.44
80 $134,785.44 $1,358.11 $0.00 $762.10 $136,905.65
81 $136,905.65 $1,358.11 $0.00 $774.08 $139,037.84
82 $139,037.84 $1,358.11 $0.00 $786.14 $141,182.09
83 $141,182.09 $1,358.11 $0.00 $798.26 $143,338.46
84 $143,338.46 $1,358.11 $0.00 $810.46 $145,507.03
85 $145,507.03 $1,358.11 $0.00 $822.72 $147,687.86
86 $147,687.86 $1,358.11 $0.00 $835.05 $149,881.02
87 $149,881.02 $1,358.11 $0.00 $847.45 $152,086.58
88 $152,086.58 $1,358.11 $0.00 $859.92 $154,304.61
89 $154,304.61 $1,358.11 $0.00 $872.46 $156,535.18
90 $156,535.18 $1,358.11 $0.00 $885.07 $158,778.36
91 $158,778.36 $1,358.11 $0.00 $897.76 $161,034.23
92 $161,034.23 $1,358.11 $0.00 $910.51 $163,302.85
93 $163,302.85 $1,358.11 $0.00 $923.34 $165,584.30
94 $165,584.30 $1,358.11 $0.00 $936.24 $167,878.65
95 $167,878.65 $1,358.11 $0.00 $949.21 $170,185.97
96 $170,185.97 $1,358.11 $0.00 $962.26 $172,506.34
97 $172,506.34 $1,358.11 $0.00 $975.38 $174,839.83
98 $174,839.83 $1,358.11 $0.00 $988.57 $177,186.51
99 $177,186.51 $1,358.11 $0.00 $1,001.84 $179,546.46
100 $179,546.46 $1,358.11 $0.00 $1,015.18 $181,919.75
101 $181,919.75 $1,358.11 $0.00 $1,028.60 $184,306.46
102 $184,306.46 $1,358.11 $0.00 $1,042.10 $186,706.67
103 $186,706.67 $1,358.11 $0.00 $1,055.67 $189,120.45
104 $189,120.45 $1,358.11 $0.00 $1,069.31 $191,547.87
105 $191,547.87 $1,358.11 $0.00 $1,083.04 $193,989.02
106 $193,989.02 $1,358.11 $0.00 $1,096.84 $196,443.97
107 $196,443.97 $1,358.11 $0.00 $1,110.72 $198,912.80
108 $198,912.80 $1,358.11 $0.00 $1,124.68 $201,395.59
109 $201,395.59 $1,358.11 $0.00 $1,138.72 $203,892.42
110 $203,892.42 $1,358.11 $0.00 $1,152.84 $206,403.37
111 $206,403.37 $1,358.11 $0.00 $1,167.03 $208,928.51
112 $208,928.51 $1,358.11 $0.00 $1,181.31 $211,467.93
113 $211,467.93 $1,358.11 $0.00 $1,195.67 $214,021.71
114 $214,021.71 $1,358.11 $0.00 $1,210.11 $216,589.93
115 $216,589.93 $1,358.11 $0.00 $1,224.63 $219,172.67
116 $219,172.67 $1,358.11 $0.00 $1,239.23 $221,770.01
117 $221,770.01 $1,358.11 $0.00 $1,253.92 $224,382.04
118 $224,382.04 $1,358.11 $0.00 $1,268.69 $227,008.84
119 $227,008.84 $1,358.11 $0.00 $1,283.54 $229,650.49
120 $229,650.49 $1,358.11 $0.00 $1,298.48 $232,307.08
121 $232,307.08 $1,358.11 $0.00 $1,313.50 $234,978.69
122 $234,978.69 $1,358.11 $0.00 $1,328.60 $237,665.40
123 $237,665.40 $1,358.11 $0.00 $1,343.79 $240,367.30
124 $240,367.30 $1,358.11 $0.00 $1,359.07 $243,084.48
125 $243,084.48 $1,358.11 $0.00 $1,374.43 $245,817.02
126 $245,817.02 $1,358.11 $0.00 $1,389.89 $248,565.02
127 $248,565.02 $1,358.11 $0.00 $1,405.42 $251,328.55
128 $251,328.55 $1,358.11 $0.00 $1,421.05 $254,107.71
129 $254,107.71 $1,358.11 $0.00 $1,436.76 $256,902.58
130 $256,902.58 $1,358.11 $0.00 $1,452.56 $259,713.25
131 $259,713.25 $1,358.11 $0.00 $1,468.46 $262,539.82
132 $262,539.82 $1,358.11 $0.00 $1,484.44 $265,382.37
133 $265,382.37 $1,358.11 $0.00 $1,500.51 $268,240.99
134 $268,240.99 $1,358.11 $0.00 $1,516.67 $271,115.77
135 $271,115.77 $1,358.11 $0.00 $1,532.93 $274,006.81
136 $274,006.81 $1,358.11 $0.00 $1,549.27 $276,914.19
137 $276,914.19 $1,358.11 $0.00 $1,565.71 $279,838.01
138 $279,838.01 $1,358.11 $0.00 $1,582.24 $282,778.36
139 $282,778.36 $1,358.11 $0.00 $1,598.87 $285,735.34
140 $285,735.34 $1,358.11 $0.00 $1,615.59 $288,709.04
141 $288,709.04 $1,358.11 $0.00 $1,632.40 $291,699.55
142 $291,699.55 $1,358.11 $0.00 $1,649.31 $294,706.97
143 $294,706.97 $1,358.11 $0.00 $1,666.32 $297,731.40
144 $297,731.40 $1,358.11 $0.00 $1,683.42 $300,772.93
145 $300,772.93 $1,358.11 $0.00 $1,700.61 $303,831.65
146 $303,831.65 $1,358.11 $0.00 $1,717.91 $306,907.67
147 $306,907.67 $1,358.11 $0.00 $1,735.30 $310,001.08
148 $310,001.08 $1,358.11 $0.00 $1,752.79 $313,111.98
149 $313,111.98 $1,358.11 $0.00 $1,770.38 $316,240.47
150 $316,240.47 $1,358.11 $0.00 $1,788.07 $319,386.65
151 $319,386.65 $1,358.11 $0.00 $1,805.86 $322,550.62
152 $322,550.62 $1,358.11 $0.00 $1,823.75 $325,732.48
153 $325,732.48 $1,358.11 $0.00 $1,841.74 $328,932.33
154 $328,932.33 $1,358.11 $0.00 $1,859.83 $332,150.27
155 $332,150.27 $1,358.11 $0.00 $1,878.03 $335,386.41
156 $335,386.41 $1,358.11 $0.00 $1,896.32 $338,640.84
157 $338,640.84 $1,358.11 $0.00 $1,914.72 $341,913.67
158 $341,913.67 $1,358.11 $0.00 $1,933.23 $345,205.01
159 $345,205.01 $1,358.11 $0.00 $1,951.84 $348,514.96
160 $348,514.96 $1,358.11 $0.00 $1,970.55 $351,843.62
161 $351,843.62 $1,358.11 $0.00 $1,989.37 $355,191.10
162 $355,191.10 $1,358.11 $0.00 $2,008.30 $358,557.51
163 $358,557.51 $1,358.11 $0.00 $2,027.34 $361,942.96
164 $361,942.96 $1,358.11 $0.00 $2,046.48 $365,347.55
165 $365,347.55 $1,358.11 $0.00 $2,065.73 $368,771.39
166 $368,771.39 $1,358.11 $0.00 $2,085.09 $372,214.59
167 $372,214.59 $1,358.11 $0.00 $2,104.56 $375,677.26
168 $375,677.26 $1,358.11 $0.00 $2,124.13 $379,159.50
169 $379,159.50 $1,358.11 $0.00 $2,143.82 $382,661.43
170 $382,661.43 $1,358.11 $0.00 $2,163.62 $386,183.16
171 $386,183.16 $1,358.11 $0.00 $2,183.54 $389,724.81
172 $389,724.81 $1,358.11 $0.00 $2,203.56 $393,286.48
173 $393,286.48 $1,358.11 $0.00 $2,223.70 $396,868.29
174 $396,868.29 $1,358.11 $0.00 $2,243.95 $400,470.35
175 $400,470.35 $1,358.11 $0.00 $2,264.32 $404,092.78
176 $404,092.78 $1,358.11 $0.00 $2,284.80 $407,735.69
177 $407,735.69 $1,358.11 $0.00 $2,305.40 $411,399.20
178 $411,399.20 $1,358.11 $0.00 $2,326.11 $415,083.42
179 $415,083.42 $1,358.11 $0.00 $2,346.94 $418,788.47
180 $418,788.47 $1,358.11 $0.00 $2,367.89 $422,514.47
181 $422,514.47 $1,358.11 $0.00 $2,388.96 $426,261.54
182 $426,261.54 $1,358.11 $0.00 $2,410.14 $430,029.79
183 $430,029.79 $1,358.11 $0.00 $2,431.45 $433,819.35
184 $433,819.35 $1,358.11 $0.00 $2,452.88 $437,630.34
185 $437,630.34 $1,358.11 $0.00 $2,474.43 $441,462.88
186 $441,462.88 $1,358.11 $0.00 $2,496.10 $445,317.09
187 $445,317.09 $1,358.11 $0.00 $2,517.89 $449,193.09
188 $449,193.09 $1,358.11 $0.00 $2,539.80 $453,091.00
189 $453,091.00 $1,358.11 $0.00 $2,561.84 $457,010.95
190 $457,010.95 $1,358.11 $0.00 $2,584.01 $460,953.07
191 $460,953.07 $1,358.11 $0.00 $2,606.30 $464,917.48
192 $464,917.48 $1,358.11 $0.00 $2,628.71 $468,904.30
193 $468,904.30 $1,358.11 $0.00 $2,651.25 $472,913.66
194 $472,913.66 $1,358.11 $0.00 $2,673.92 $476,945.69
195 $476,945.69 $1,358.11 $0.00 $2,696.72 $481,000.52
196 $481,000.52 $1,358.11 $0.00 $2,719.65 $485,078.28
197 $485,078.28 $1,358.11 $0.00 $2,742.70 $489,179.09
198 $489,179.09 $1,358.11 $0.00 $2,765.89 $493,303.09
199 $493,303.09 $1,358.11 $0.00 $2,789.21 $497,450.41
200 $497,450.41 $1,358.11 $0.00 $2,812.66 $501,621.18
201 $501,621.18 $1,358.11 $0.00 $2,836.24 $505,815.53
202 $505,815.53 $1,358.11 $0.00 $2,859.95 $510,033.59
203 $510,033.59 $1,358.11 $0.00 $2,883.80 $514,275.50
204 $514,275.50 $1,358.11 $0.00 $2,907.79 $518,541.40
205 $518,541.40 $1,358.11 $0.00 $2,931.91 $522,831.42
206 $522,831.42 $1,358.11 $0.00 $2,956.16 $527,145.69
207 $527,145.69 $1,358.11 $0.00 $2,980.56 $531,484.36
208 $531,484.36 $1,358.11 $0.00 $3,005.09 $535,847.56
209 $535,847.56 $1,358.11 $0.00 $3,029.76 $540,235.43
210 $540,235.43 $1,358.11 $0.00 $3,054.57 $544,648.11
211 $544,648.11 $1,358.11 $0.00 $3,079.52 $549,085.74
212 $549,085.74 $1,358.11 $0.00 $3,104.61 $553,548.46
213 $553,548.46 $1,358.11 $0.00 $3,129.84 $558,036.41
214 $558,036.41 $1,358.11 $0.00 $3,155.22 $562,549.74
215 $562,549.74 $1,358.11 $0.00 $3,180.74 $567,088.59
216 $567,088.59 $1,358.11 $0.00 $3,206.40 $571,653.10
217 $571,653.10 $1,358.11 $159,221.93 $3,232.21 $417,021.49
218 $417,021.49 $1,358.11 $0.00 $2,357.90 $420,737.50
219 $420,737.50 $1,358.11 $0.00 $2,378.91 $424,474.52
220 $424,474.52 $1,358.11 $0.00 $2,400.04 $428,232.67
221 $428,232.67 $1,358.11 $0.00 $2,421.29 $432,012.07
222 $432,012.07 $1,358.11 $0.00 $2,442.66 $435,812.84
223 $435,812.84 $1,358.11 $0.00 $2,464.15 $439,635.10
224 $439,635.10 $1,358.11 $0.00 $2,485.76 $443,478.97
225 $443,478.97 $1,358.11 $0.00 $2,507.49 $447,344.57
226 $447,344.57 $1,358.11 $0.00 $2,529.35 $451,232.03
227 $451,232.03 $1,358.11 $0.00 $2,551.33 $455,141.47
228 $455,141.47 $1,358.11 $0.00 $2,573.44 $459,073.02
229 $459,073.02 $1,358.11 $167,183.02 $2,595.67 $295,843.78
230 $295,843.78 $1,358.11 $0.00 $1,672.74 $298,874.63
231 $298,874.63 $1,358.11 $0.00 $1,689.88 $301,922.62
232 $301,922.62 $1,358.11 $0.00 $1,707.11 $304,987.84
233 $304,987.84 $1,358.11 $0.00 $1,724.45 $308,070.40
234 $308,070.40 $1,358.11 $0.00 $1,741.87 $311,170.38
235 $311,170.38 $1,358.11 $0.00 $1,759.40 $314,287.89
236 $314,287.89 $1,358.11 $0.00 $1,777.03 $317,423.03
237 $317,423.03 $1,358.11 $0.00 $1,794.76 $320,575.90
238 $320,575.90 $1,358.11 $0.00 $1,812.58 $323,746.59
239 $323,746.59 $1,358.11 $0.00 $1,830.51 $326,935.21
240 $326,935.21 $1,358.11 $0.00 $1,848.54 $330,141.86
241 $330,141.86 $1,358.11 $175,542.18 $1,866.67 $157,824.46
242 $157,824.46 $1,358.11 $0.00 $892.36 $160,074.93
243 $160,074.93 $1,358.11 $0.00 $905.09 $162,338.13
244 $162,338.13 $1,358.11 $0.00 $917.88 $164,614.12
245 $164,614.12 $1,358.11 $0.00 $930.75 $166,902.98
246 $166,902.98 $1,358.11 $0.00 $943.69 $169,204.78
247 $169,204.78 $1,358.11 $0.00 $956.71 $171,519.60
248 $171,519.60 $1,358.11 $0.00 $969.80 $173,847.51
249 $173,847.51 $1,358.11 $0.00 $982.96 $176,188.58
250 $176,188.58 $1,358.11 $0.00 $996.20 $178,542.89
251 $178,542.89 $1,358.11 $0.00 $1,009.51 $180,910.51
252 $180,910.51 $1,358.11 $0.00 $1,022.89 $183,291.51
253 $183,291.51 $0.00 $184,319.28 $1,036.36 $8.59