Savings Plan and Future Cost Estimation for Otis College of Art and Design

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$180,311
Monthly savings required$1,427

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 $721,243.60 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,427.32 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$69,532.00
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 $1,427.32 $0.00 $0.00 $1,427.32
2 $1,427.32 $1,427.32 $0.00 $8.07 $2,862.71
3 $2,862.71 $1,427.32 $0.00 $16.19 $4,306.22
4 $4,306.22 $1,427.32 $0.00 $24.35 $5,757.89
5 $5,757.89 $1,427.32 $0.00 $32.56 $7,217.77
6 $7,217.77 $1,427.32 $0.00 $40.81 $8,685.90
7 $8,685.90 $1,427.32 $0.00 $49.11 $10,162.33
8 $10,162.33 $1,427.32 $0.00 $57.46 $11,647.11
9 $11,647.11 $1,427.32 $0.00 $65.85 $13,140.28
10 $13,140.28 $1,427.32 $0.00 $74.30 $14,641.90
11 $14,641.90 $1,427.32 $0.00 $82.79 $16,152.01
12 $16,152.01 $1,427.32 $0.00 $91.33 $17,670.66
13 $17,670.66 $1,427.32 $0.00 $99.91 $19,197.89
14 $19,197.89 $1,427.32 $0.00 $108.55 $20,733.76
15 $20,733.76 $1,427.32 $0.00 $117.23 $22,278.31
16 $22,278.31 $1,427.32 $0.00 $125.96 $23,831.59
17 $23,831.59 $1,427.32 $0.00 $134.75 $25,393.66
18 $25,393.66 $1,427.32 $0.00 $143.58 $26,964.56
19 $26,964.56 $1,427.32 $0.00 $152.46 $28,544.34
20 $28,544.34 $1,427.32 $0.00 $161.39 $30,133.05
21 $30,133.05 $1,427.32 $0.00 $170.38 $31,730.75
22 $31,730.75 $1,427.32 $0.00 $179.41 $33,337.48
23 $33,337.48 $1,427.32 $0.00 $188.49 $34,953.29
24 $34,953.29 $1,427.32 $0.00 $197.63 $36,578.24
25 $36,578.24 $1,427.32 $0.00 $206.82 $38,212.38
26 $38,212.38 $1,427.32 $0.00 $216.06 $39,855.76
27 $39,855.76 $1,427.32 $0.00 $225.35 $41,508.43
28 $41,508.43 $1,427.32 $0.00 $234.69 $43,170.44
29 $43,170.44 $1,427.32 $0.00 $244.09 $44,841.85
30 $44,841.85 $1,427.32 $0.00 $253.54 $46,522.71
31 $46,522.71 $1,427.32 $0.00 $263.05 $48,213.08
32 $48,213.08 $1,427.32 $0.00 $272.60 $49,913.00
33 $49,913.00 $1,427.32 $0.00 $282.22 $51,622.54
34 $51,622.54 $1,427.32 $0.00 $291.88 $53,341.74
35 $53,341.74 $1,427.32 $0.00 $301.60 $55,070.66
36 $55,070.66 $1,427.32 $0.00 $311.38 $56,809.36
37 $56,809.36 $1,427.32 $0.00 $321.21 $58,557.89
38 $58,557.89 $1,427.32 $0.00 $331.09 $60,316.30
39 $60,316.30 $1,427.32 $0.00 $341.04 $62,084.66
40 $62,084.66 $1,427.32 $0.00 $351.04 $63,863.02
41 $63,863.02 $1,427.32 $0.00 $361.09 $65,651.43
42 $65,651.43 $1,427.32 $0.00 $371.20 $67,449.95
43 $67,449.95 $1,427.32 $0.00 $381.37 $69,258.64
44 $69,258.64 $1,427.32 $0.00 $391.60 $71,077.56
45 $71,077.56 $1,427.32 $0.00 $401.88 $72,906.76
46 $72,906.76 $1,427.32 $0.00 $412.23 $74,746.31
47 $74,746.31 $1,427.32 $0.00 $422.63 $76,596.26
48 $76,596.26 $1,427.32 $0.00 $433.09 $78,456.67
49 $78,456.67 $1,427.32 $0.00 $443.61 $80,327.60
50 $80,327.60 $1,427.32 $0.00 $454.18 $82,209.10
51 $82,209.10 $1,427.32 $0.00 $464.82 $84,101.24
52 $84,101.24 $1,427.32 $0.00 $475.52 $86,004.08
53 $86,004.08 $1,427.32 $0.00 $486.28 $87,917.68
54 $87,917.68 $1,427.32 $0.00 $497.10 $89,842.10
55 $89,842.10 $1,427.32 $0.00 $507.98 $91,777.40
56 $91,777.40 $1,427.32 $0.00 $518.92 $93,723.64
57 $93,723.64 $1,427.32 $0.00 $529.93 $95,680.89
58 $95,680.89 $1,427.32 $0.00 $540.99 $97,649.20
59 $97,649.20 $1,427.32 $0.00 $552.12 $99,628.64
60 $99,628.64 $1,427.32 $0.00 $563.31 $101,619.27
61 $101,619.27 $1,427.32 $0.00 $574.57 $103,621.16
62 $103,621.16 $1,427.32 $0.00 $585.89 $105,634.37
63 $105,634.37 $1,427.32 $0.00 $597.27 $107,658.96
64 $107,658.96 $1,427.32 $0.00 $608.72 $109,695.00
65 $109,695.00 $1,427.32 $0.00 $620.23 $111,742.55
66 $111,742.55 $1,427.32 $0.00 $631.81 $113,801.68
67 $113,801.68 $1,427.32 $0.00 $643.45 $115,872.45
68 $115,872.45 $1,427.32 $0.00 $655.16 $117,954.93
69 $117,954.93 $1,427.32 $0.00 $666.93 $120,049.18
70 $120,049.18 $1,427.32 $0.00 $678.78 $122,155.28
71 $122,155.28 $1,427.32 $0.00 $690.68 $124,273.28
72 $124,273.28 $1,427.32 $0.00 $702.66 $126,403.26
73 $126,403.26 $1,427.32 $0.00 $714.70 $128,545.28
74 $128,545.28 $1,427.32 $0.00 $726.81 $130,699.41
75 $130,699.41 $1,427.32 $0.00 $738.99 $132,865.72
76 $132,865.72 $1,427.32 $0.00 $751.24 $135,044.28
77 $135,044.28 $1,427.32 $0.00 $763.56 $137,235.16
78 $137,235.16 $1,427.32 $0.00 $775.95 $139,438.43
79 $139,438.43 $1,427.32 $0.00 $788.41 $141,654.16
80 $141,654.16 $1,427.32 $0.00 $800.93 $143,882.41
81 $143,882.41 $1,427.32 $0.00 $813.53 $146,123.26
82 $146,123.26 $1,427.32 $0.00 $826.20 $148,376.78
83 $148,376.78 $1,427.32 $0.00 $838.94 $150,643.04
84 $150,643.04 $1,427.32 $0.00 $851.76 $152,922.12
85 $152,922.12 $1,427.32 $0.00 $864.64 $155,214.08
86 $155,214.08 $1,427.32 $0.00 $877.60 $157,519.00
87 $157,519.00 $1,427.32 $0.00 $890.64 $159,836.96
88 $159,836.96 $1,427.32 $0.00 $903.74 $162,168.02
89 $162,168.02 $1,427.32 $0.00 $916.92 $164,512.26
90 $164,512.26 $1,427.32 $0.00 $930.18 $166,869.76
91 $166,869.76 $1,427.32 $0.00 $943.51 $169,240.59
92 $169,240.59 $1,427.32 $0.00 $956.91 $171,624.82
93 $171,624.82 $1,427.32 $0.00 $970.39 $174,022.53
94 $174,022.53 $1,427.32 $0.00 $983.95 $176,433.80
95 $176,433.80 $1,427.32 $0.00 $997.58 $178,858.70
96 $178,858.70 $1,427.32 $0.00 $1,011.29 $181,297.31
97 $181,297.31 $1,427.32 $0.00 $1,025.08 $183,749.71
98 $183,749.71 $1,427.32 $0.00 $1,038.95 $186,215.98
99 $186,215.98 $1,427.32 $0.00 $1,052.89 $188,696.19
100 $188,696.19 $1,427.32 $0.00 $1,066.92 $191,190.43
101 $191,190.43 $1,427.32 $0.00 $1,081.02 $193,698.77
102 $193,698.77 $1,427.32 $0.00 $1,095.20 $196,221.29
103 $196,221.29 $1,427.32 $0.00 $1,109.46 $198,758.07
104 $198,758.07 $1,427.32 $0.00 $1,123.81 $201,309.20
105 $201,309.20 $1,427.32 $0.00 $1,138.23 $203,874.75
106 $203,874.75 $1,427.32 $0.00 $1,152.74 $206,454.81
107 $206,454.81 $1,427.32 $0.00 $1,167.33 $209,049.46
108 $209,049.46 $1,427.32 $0.00 $1,182.00 $211,658.78
109 $211,658.78 $1,427.32 $0.00 $1,196.75 $214,282.85
110 $214,282.85 $1,427.32 $0.00 $1,211.59 $216,921.76
111 $216,921.76 $1,427.32 $0.00 $1,226.51 $219,575.59
112 $219,575.59 $1,427.32 $0.00 $1,241.51 $222,244.42
113 $222,244.42 $1,427.32 $0.00 $1,256.60 $224,928.34
114 $224,928.34 $1,427.32 $0.00 $1,271.78 $227,627.44
115 $227,627.44 $1,427.32 $0.00 $1,287.04 $230,341.80
116 $230,341.80 $1,427.32 $0.00 $1,302.39 $233,071.51
117 $233,071.51 $1,427.32 $0.00 $1,317.82 $235,816.65
118 $235,816.65 $1,427.32 $0.00 $1,333.34 $238,577.31
119 $238,577.31 $1,427.32 $0.00 $1,348.95 $241,353.58
120 $241,353.58 $1,427.32 $0.00 $1,364.65 $244,145.55
121 $244,145.55 $1,427.32 $0.00 $1,380.43 $246,953.30
122 $246,953.30 $1,427.32 $0.00 $1,396.31 $249,776.93
123 $249,776.93 $1,427.32 $0.00 $1,412.28 $252,616.53
124 $252,616.53 $1,427.32 $0.00 $1,428.33 $255,472.18
125 $255,472.18 $1,427.32 $0.00 $1,444.48 $258,343.98
126 $258,343.98 $1,427.32 $0.00 $1,460.71 $261,232.01
127 $261,232.01 $1,427.32 $0.00 $1,477.04 $264,136.37
128 $264,136.37 $1,427.32 $0.00 $1,493.47 $267,057.16
129 $267,057.16 $1,427.32 $0.00 $1,509.98 $269,994.46
130 $269,994.46 $1,427.32 $0.00 $1,526.59 $272,948.37
131 $272,948.37 $1,427.32 $0.00 $1,543.29 $275,918.98
132 $275,918.98 $1,427.32 $0.00 $1,560.09 $278,906.39
133 $278,906.39 $1,427.32 $0.00 $1,576.98 $281,910.69
134 $281,910.69 $1,427.32 $0.00 $1,593.96 $284,931.97
135 $284,931.97 $1,427.32 $0.00 $1,611.05 $287,970.34
136 $287,970.34 $1,427.32 $0.00 $1,628.23 $291,025.89
137 $291,025.89 $1,427.32 $0.00 $1,645.50 $294,098.71
138 $294,098.71 $1,427.32 $0.00 $1,662.88 $297,188.91
139 $297,188.91 $1,427.32 $0.00 $1,680.35 $300,296.58
140 $300,296.58 $1,427.32 $0.00 $1,697.92 $303,421.82
141 $303,421.82 $1,427.32 $0.00 $1,715.59 $306,564.73
142 $306,564.73 $1,427.32 $0.00 $1,733.36 $309,725.41
143 $309,725.41 $1,427.32 $0.00 $1,751.23 $312,903.96
144 $312,903.96 $1,427.32 $0.00 $1,769.20 $316,100.48
145 $316,100.48 $1,427.32 $0.00 $1,787.28 $319,315.08
146 $319,315.08 $1,427.32 $0.00 $1,805.45 $322,547.85
147 $322,547.85 $1,427.32 $0.00 $1,823.73 $325,798.90
148 $325,798.90 $1,427.32 $0.00 $1,842.11 $329,068.33
149 $329,068.33 $1,427.32 $0.00 $1,860.60 $332,356.25
150 $332,356.25 $1,427.32 $0.00 $1,879.19 $335,662.76
151 $335,662.76 $1,427.32 $0.00 $1,897.89 $338,987.97
152 $338,987.97 $1,427.32 $0.00 $1,916.69 $342,331.98
153 $342,331.98 $1,427.32 $0.00 $1,935.59 $345,694.89
154 $345,694.89 $1,427.32 $0.00 $1,954.61 $349,076.82
155 $349,076.82 $1,427.32 $0.00 $1,973.73 $352,477.87
156 $352,477.87 $1,427.32 $0.00 $1,992.96 $355,898.15
157 $355,898.15 $1,427.32 $0.00 $2,012.30 $359,337.77
158 $359,337.77 $1,427.32 $0.00 $2,031.75 $362,796.84
159 $362,796.84 $1,427.32 $0.00 $2,051.31 $366,275.47
160 $366,275.47 $1,427.32 $0.00 $2,070.97 $369,773.76
161 $369,773.76 $1,427.32 $0.00 $2,090.75 $373,291.83
162 $373,291.83 $1,427.32 $0.00 $2,110.65 $376,829.80
163 $376,829.80 $1,427.32 $0.00 $2,130.65 $380,387.77
164 $380,387.77 $1,427.32 $0.00 $2,150.77 $383,965.86
165 $383,965.86 $1,427.32 $0.00 $2,171.00 $387,564.18
166 $387,564.18 $1,427.32 $0.00 $2,191.34 $391,182.84
167 $391,182.84 $1,427.32 $0.00 $2,211.80 $394,821.96
168 $394,821.96 $1,427.32 $0.00 $2,232.38 $398,481.66
169 $398,481.66 $1,427.32 $0.00 $2,253.07 $402,162.05
170 $402,162.05 $1,427.32 $0.00 $2,273.88 $405,863.25
171 $405,863.25 $1,427.32 $0.00 $2,294.81 $409,585.38
172 $409,585.38 $1,427.32 $0.00 $2,315.86 $413,328.56
173 $413,328.56 $1,427.32 $0.00 $2,337.02 $417,092.90
174 $417,092.90 $1,427.32 $0.00 $2,358.30 $420,878.52
175 $420,878.52 $1,427.32 $0.00 $2,379.71 $424,685.55
176 $424,685.55 $1,427.32 $0.00 $2,401.23 $428,514.10
177 $428,514.10 $1,427.32 $0.00 $2,422.88 $432,364.30
178 $432,364.30 $1,427.32 $0.00 $2,444.65 $436,236.27
179 $436,236.27 $1,427.32 $0.00 $2,466.54 $440,130.13
180 $440,130.13 $1,427.32 $0.00 $2,488.56 $444,046.01
181 $444,046.01 $1,427.32 $0.00 $2,510.70 $447,984.03
182 $447,984.03 $1,427.32 $0.00 $2,532.97 $451,944.32
183 $451,944.32 $1,427.32 $0.00 $2,555.36 $455,927.00
184 $455,927.00 $1,427.32 $0.00 $2,577.88 $459,932.20
185 $459,932.20 $1,427.32 $0.00 $2,600.52 $463,960.04
186 $463,960.04 $1,427.32 $0.00 $2,623.30 $468,010.66
187 $468,010.66 $1,427.32 $0.00 $2,646.20 $472,084.18
188 $472,084.18 $1,427.32 $0.00 $2,669.23 $476,180.73
189 $476,180.73 $1,427.32 $0.00 $2,692.40 $480,300.45
190 $480,300.45 $1,427.32 $0.00 $2,715.69 $484,443.46
191 $484,443.46 $1,427.32 $0.00 $2,739.11 $488,609.89
192 $488,609.89 $1,427.32 $0.00 $2,762.67 $492,799.88
193 $492,799.88 $1,427.32 $0.00 $2,786.36 $497,013.56
194 $497,013.56 $1,427.32 $0.00 $2,810.19 $501,251.07
195 $501,251.07 $1,427.32 $0.00 $2,834.15 $505,512.54
196 $505,512.54 $1,427.32 $0.00 $2,858.24 $509,798.10
197 $509,798.10 $1,427.32 $0.00 $2,882.47 $514,107.89
198 $514,107.89 $1,427.32 $0.00 $2,906.84 $518,442.05
199 $518,442.05 $1,427.32 $0.00 $2,931.35 $522,800.72
200 $522,800.72 $1,427.32 $0.00 $2,955.99 $527,184.03
201 $527,184.03 $1,427.32 $0.00 $2,980.78 $531,592.13
202 $531,592.13 $1,427.32 $0.00 $3,005.70 $536,025.15
203 $536,025.15 $1,427.32 $0.00 $3,030.76 $540,483.23
204 $540,483.23 $1,427.32 $0.00 $3,055.97 $544,966.52
205 $544,966.52 $1,427.32 $0.00 $3,081.32 $549,475.16
206 $549,475.16 $1,427.32 $0.00 $3,106.81 $554,009.29
207 $554,009.29 $1,427.32 $0.00 $3,132.45 $558,569.06
208 $558,569.06 $1,427.32 $0.00 $3,158.23 $563,154.61
209 $563,154.61 $1,427.32 $0.00 $3,184.16 $567,766.09
210 $567,766.09 $1,427.32 $0.00 $3,210.23 $572,403.64
211 $572,403.64 $1,427.32 $0.00 $3,236.45 $577,067.41
212 $577,067.41 $1,427.32 $0.00 $3,262.82 $581,757.55
213 $581,757.55 $1,427.32 $0.00 $3,289.34 $586,474.21
214 $586,474.21 $1,427.32 $0.00 $3,316.01 $591,217.54
215 $591,217.54 $1,427.32 $0.00 $3,342.83 $595,987.69
216 $595,987.69 $1,427.32 $0.00 $3,369.80 $600,784.81
217 $600,784.81 $1,427.32 $167,337.05 $3,396.92 $438,272.00
218 $438,272.00 $1,427.32 $0.00 $2,478.05 $442,177.37
219 $442,177.37 $1,427.32 $0.00 $2,500.14 $446,104.83
220 $446,104.83 $1,427.32 $0.00 $2,522.34 $450,054.49
221 $450,054.49 $1,427.32 $0.00 $2,544.67 $454,026.48
222 $454,026.48 $1,427.32 $0.00 $2,567.13 $458,020.93
223 $458,020.93 $1,427.32 $0.00 $2,589.72 $462,037.97
224 $462,037.97 $1,427.32 $0.00 $2,612.43 $466,077.72
225 $466,077.72 $1,427.32 $0.00 $2,635.27 $470,140.31
226 $470,140.31 $1,427.32 $0.00 $2,658.24 $474,225.87
227 $474,225.87 $1,427.32 $0.00 $2,681.34 $478,334.53
228 $478,334.53 $1,427.32 $0.00 $2,704.57 $482,466.42
229 $482,466.42 $1,427.32 $175,703.90 $2,727.94 $310,917.78
230 $310,917.78 $1,427.32 $0.00 $1,757.97 $314,103.07
231 $314,103.07 $1,427.32 $0.00 $1,775.98 $317,306.37
232 $317,306.37 $1,427.32 $0.00 $1,794.10 $320,527.79
233 $320,527.79 $1,427.32 $0.00 $1,812.31 $323,767.42
234 $323,767.42 $1,427.32 $0.00 $1,830.63 $327,025.37
235 $327,025.37 $1,427.32 $0.00 $1,849.05 $330,301.74
236 $330,301.74 $1,427.32 $0.00 $1,867.57 $333,596.63
237 $333,596.63 $1,427.32 $0.00 $1,886.20 $336,910.15
238 $336,910.15 $1,427.32 $0.00 $1,904.94 $340,242.41
239 $340,242.41 $1,427.32 $0.00 $1,923.78 $343,593.51
240 $343,593.51 $1,427.32 $0.00 $1,942.73 $346,963.56
241 $346,963.56 $1,427.32 $184,489.10 $1,961.78 $165,863.56
242 $165,863.56 $1,427.32 $0.00 $937.82 $168,228.70
243 $168,228.70 $1,427.32 $0.00 $951.19 $170,607.21
244 $170,607.21 $1,427.32 $0.00 $964.64 $172,999.17
245 $172,999.17 $1,427.32 $0.00 $978.16 $175,404.65
246 $175,404.65 $1,427.32 $0.00 $991.76 $177,823.73
247 $177,823.73 $1,427.32 $0.00 $1,005.44 $180,256.49
248 $180,256.49 $1,427.32 $0.00 $1,019.20 $182,703.01
249 $182,703.01 $1,427.32 $0.00 $1,033.03 $185,163.36
250 $185,163.36 $1,427.32 $0.00 $1,046.94 $187,637.62
251 $187,637.62 $1,427.32 $0.00 $1,060.93 $190,125.87
252 $190,125.87 $1,427.32 $0.00 $1,075.00 $192,628.19
253 $192,628.19 $0.00 $193,713.55 $1,089.15 $3.79