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 2039$176,162
Monthly savings required$1,394

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 $704,647.07 for students enrolling in 2039 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,394.46 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$67,932.00
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 $1,394.46 $0.00 $0.00 $1,394.46
2 $1,394.46 $1,394.46 $0.00 $7.88 $2,796.80
3 $2,796.80 $1,394.46 $0.00 $15.81 $4,207.07
4 $4,207.07 $1,394.46 $0.00 $23.79 $5,625.32
5 $5,625.32 $1,394.46 $0.00 $31.81 $7,051.59
6 $7,051.59 $1,394.46 $0.00 $39.87 $8,485.92
7 $8,485.92 $1,394.46 $0.00 $47.98 $9,928.36
8 $9,928.36 $1,394.46 $0.00 $56.14 $11,378.96
9 $11,378.96 $1,394.46 $0.00 $64.34 $12,837.76
10 $12,837.76 $1,394.46 $0.00 $72.59 $14,304.81
11 $14,304.81 $1,394.46 $0.00 $80.88 $15,780.15
12 $15,780.15 $1,394.46 $0.00 $89.22 $17,263.83
13 $17,263.83 $1,394.46 $0.00 $97.61 $18,755.90
14 $18,755.90 $1,394.46 $0.00 $106.05 $20,256.41
15 $20,256.41 $1,394.46 $0.00 $114.53 $21,765.40
16 $21,765.40 $1,394.46 $0.00 $123.06 $23,282.92
17 $23,282.92 $1,394.46 $0.00 $131.65 $24,809.03
18 $24,809.03 $1,394.46 $0.00 $140.27 $26,343.76
19 $26,343.76 $1,394.46 $0.00 $148.95 $27,887.17
20 $27,887.17 $1,394.46 $0.00 $157.68 $29,439.31
21 $29,439.31 $1,394.46 $0.00 $166.45 $31,000.22
22 $31,000.22 $1,394.46 $0.00 $175.28 $32,569.96
23 $32,569.96 $1,394.46 $0.00 $184.16 $34,148.58
24 $34,148.58 $1,394.46 $0.00 $193.08 $35,736.12
25 $35,736.12 $1,394.46 $0.00 $202.06 $37,332.64
26 $37,332.64 $1,394.46 $0.00 $211.08 $38,938.18
27 $38,938.18 $1,394.46 $0.00 $220.16 $40,552.80
28 $40,552.80 $1,394.46 $0.00 $229.29 $42,176.55
29 $42,176.55 $1,394.46 $0.00 $238.47 $43,809.48
30 $43,809.48 $1,394.46 $0.00 $247.71 $45,451.65
31 $45,451.65 $1,394.46 $0.00 $256.99 $47,103.10
32 $47,103.10 $1,394.46 $0.00 $266.33 $48,763.89
33 $48,763.89 $1,394.46 $0.00 $275.72 $50,434.07
34 $50,434.07 $1,394.46 $0.00 $285.16 $52,113.69
35 $52,113.69 $1,394.46 $0.00 $294.66 $53,802.81
36 $53,802.81 $1,394.46 $0.00 $304.21 $55,501.48
37 $55,501.48 $1,394.46 $0.00 $313.81 $57,209.75
38 $57,209.75 $1,394.46 $0.00 $323.47 $58,927.68
39 $58,927.68 $1,394.46 $0.00 $333.19 $60,655.33
40 $60,655.33 $1,394.46 $0.00 $342.95 $62,392.74
41 $62,392.74 $1,394.46 $0.00 $352.78 $64,139.98
42 $64,139.98 $1,394.46 $0.00 $362.66 $65,897.10
43 $65,897.10 $1,394.46 $0.00 $372.59 $67,664.15
44 $67,664.15 $1,394.46 $0.00 $382.58 $69,441.19
45 $69,441.19 $1,394.46 $0.00 $392.63 $71,228.28
46 $71,228.28 $1,394.46 $0.00 $402.74 $73,025.48
47 $73,025.48 $1,394.46 $0.00 $412.90 $74,832.84
48 $74,832.84 $1,394.46 $0.00 $423.12 $76,650.42
49 $76,650.42 $1,394.46 $0.00 $433.39 $78,478.27
50 $78,478.27 $1,394.46 $0.00 $443.73 $80,316.46
51 $80,316.46 $1,394.46 $0.00 $454.12 $82,165.04
52 $82,165.04 $1,394.46 $0.00 $464.57 $84,024.07
53 $84,024.07 $1,394.46 $0.00 $475.08 $85,893.61
54 $85,893.61 $1,394.46 $0.00 $485.65 $87,773.72
55 $87,773.72 $1,394.46 $0.00 $496.29 $89,664.47
56 $89,664.47 $1,394.46 $0.00 $506.98 $91,565.91
57 $91,565.91 $1,394.46 $0.00 $517.73 $93,478.10
58 $93,478.10 $1,394.46 $0.00 $528.54 $95,401.10
59 $95,401.10 $1,394.46 $0.00 $539.41 $97,334.97
60 $97,334.97 $1,394.46 $0.00 $550.35 $99,279.78
61 $99,279.78 $1,394.46 $0.00 $561.34 $101,235.58
62 $101,235.58 $1,394.46 $0.00 $572.40 $103,202.44
63 $103,202.44 $1,394.46 $0.00 $583.52 $105,180.42
64 $105,180.42 $1,394.46 $0.00 $594.71 $107,169.59
65 $107,169.59 $1,394.46 $0.00 $605.95 $109,170.00
66 $109,170.00 $1,394.46 $0.00 $617.26 $111,181.72
67 $111,181.72 $1,394.46 $0.00 $628.64 $113,204.82
68 $113,204.82 $1,394.46 $0.00 $640.08 $115,239.36
69 $115,239.36 $1,394.46 $0.00 $651.58 $117,285.40
70 $117,285.40 $1,394.46 $0.00 $663.15 $119,343.01
71 $119,343.01 $1,394.46 $0.00 $674.78 $121,412.25
72 $121,412.25 $1,394.46 $0.00 $686.48 $123,493.19
73 $123,493.19 $1,394.46 $0.00 $698.25 $125,585.90
74 $125,585.90 $1,394.46 $0.00 $710.08 $127,690.44
75 $127,690.44 $1,394.46 $0.00 $721.98 $129,806.88
76 $129,806.88 $1,394.46 $0.00 $733.95 $131,935.29
77 $131,935.29 $1,394.46 $0.00 $745.98 $134,075.73
78 $134,075.73 $1,394.46 $0.00 $758.08 $136,228.27
79 $136,228.27 $1,394.46 $0.00 $770.25 $138,392.98
80 $138,392.98 $1,394.46 $0.00 $782.49 $140,569.93
81 $140,569.93 $1,394.46 $0.00 $794.80 $142,759.19
82 $142,759.19 $1,394.46 $0.00 $807.18 $144,960.83
83 $144,960.83 $1,394.46 $0.00 $819.63 $147,174.92
84 $147,174.92 $1,394.46 $0.00 $832.15 $149,401.53
85 $149,401.53 $1,394.46 $0.00 $844.74 $151,640.73
86 $151,640.73 $1,394.46 $0.00 $857.40 $153,892.59
87 $153,892.59 $1,394.46 $0.00 $870.13 $156,157.18
88 $156,157.18 $1,394.46 $0.00 $882.94 $158,434.58
89 $158,434.58 $1,394.46 $0.00 $895.81 $160,724.85
90 $160,724.85 $1,394.46 $0.00 $908.76 $163,028.07
91 $163,028.07 $1,394.46 $0.00 $921.78 $165,344.31
92 $165,344.31 $1,394.46 $0.00 $934.88 $167,673.65
93 $167,673.65 $1,394.46 $0.00 $948.05 $170,016.16
94 $170,016.16 $1,394.46 $0.00 $961.30 $172,371.92
95 $172,371.92 $1,394.46 $0.00 $974.62 $174,741.00
96 $174,741.00 $1,394.46 $0.00 $988.01 $177,123.47
97 $177,123.47 $1,394.46 $0.00 $1,001.48 $179,519.41
98 $179,519.41 $1,394.46 $0.00 $1,015.03 $181,928.90
99 $181,928.90 $1,394.46 $0.00 $1,028.65 $184,352.01
100 $184,352.01 $1,394.46 $0.00 $1,042.35 $186,788.82
101 $186,788.82 $1,394.46 $0.00 $1,056.13 $189,239.41
102 $189,239.41 $1,394.46 $0.00 $1,069.99 $191,703.86
103 $191,703.86 $1,394.46 $0.00 $1,083.92 $194,182.24
104 $194,182.24 $1,394.46 $0.00 $1,097.93 $196,674.63
105 $196,674.63 $1,394.46 $0.00 $1,112.03 $199,181.12
106 $199,181.12 $1,394.46 $0.00 $1,126.20 $201,701.78
107 $201,701.78 $1,394.46 $0.00 $1,140.45 $204,236.69
108 $204,236.69 $1,394.46 $0.00 $1,154.78 $206,785.93
109 $206,785.93 $1,394.46 $0.00 $1,169.20 $209,349.59
110 $209,349.59 $1,394.46 $0.00 $1,183.69 $211,927.74
111 $211,927.74 $1,394.46 $0.00 $1,198.27 $214,520.47
112 $214,520.47 $1,394.46 $0.00 $1,212.93 $217,127.86
113 $217,127.86 $1,394.46 $0.00 $1,227.67 $219,749.99
114 $219,749.99 $1,394.46 $0.00 $1,242.50 $222,386.95
115 $222,386.95 $1,394.46 $0.00 $1,257.41 $225,038.82
116 $225,038.82 $1,394.46 $0.00 $1,272.40 $227,705.68
117 $227,705.68 $1,394.46 $0.00 $1,287.48 $230,387.62
118 $230,387.62 $1,394.46 $0.00 $1,302.65 $233,084.73
119 $233,084.73 $1,394.46 $0.00 $1,317.89 $235,797.08
120 $235,797.08 $1,394.46 $0.00 $1,333.23 $238,524.77
121 $238,524.77 $1,394.46 $0.00 $1,348.65 $241,267.88
122 $241,267.88 $1,394.46 $0.00 $1,364.16 $244,026.50
123 $244,026.50 $1,394.46 $0.00 $1,379.76 $246,800.72
124 $246,800.72 $1,394.46 $0.00 $1,395.45 $249,590.63
125 $249,590.63 $1,394.46 $0.00 $1,411.22 $252,396.31
126 $252,396.31 $1,394.46 $0.00 $1,427.09 $255,217.86
127 $255,217.86 $1,394.46 $0.00 $1,443.04 $258,055.36
128 $258,055.36 $1,394.46 $0.00 $1,459.08 $260,908.90
129 $260,908.90 $1,394.46 $0.00 $1,475.22 $263,778.58
130 $263,778.58 $1,394.46 $0.00 $1,491.44 $266,664.48
131 $266,664.48 $1,394.46 $0.00 $1,507.76 $269,566.70
132 $269,566.70 $1,394.46 $0.00 $1,524.17 $272,485.33
133 $272,485.33 $1,394.46 $0.00 $1,540.67 $275,420.46
134 $275,420.46 $1,394.46 $0.00 $1,557.27 $278,372.19
135 $278,372.19 $1,394.46 $0.00 $1,573.96 $281,340.61
136 $281,340.61 $1,394.46 $0.00 $1,590.74 $284,325.81
137 $284,325.81 $1,394.46 $0.00 $1,607.62 $287,327.89
138 $287,327.89 $1,394.46 $0.00 $1,624.59 $290,346.94
139 $290,346.94 $1,394.46 $0.00 $1,641.66 $293,383.06
140 $293,383.06 $1,394.46 $0.00 $1,658.83 $296,436.35
141 $296,436.35 $1,394.46 $0.00 $1,676.09 $299,506.90
142 $299,506.90 $1,394.46 $0.00 $1,693.46 $302,594.82
143 $302,594.82 $1,394.46 $0.00 $1,710.92 $305,700.20
144 $305,700.20 $1,394.46 $0.00 $1,728.47 $308,823.13
145 $308,823.13 $1,394.46 $0.00 $1,746.13 $311,963.72
146 $311,963.72 $1,394.46 $0.00 $1,763.89 $315,122.07
147 $315,122.07 $1,394.46 $0.00 $1,781.75 $318,298.28
148 $318,298.28 $1,394.46 $0.00 $1,799.70 $321,492.44
149 $321,492.44 $1,394.46 $0.00 $1,817.76 $324,704.66
150 $324,704.66 $1,394.46 $0.00 $1,835.93 $327,935.05
151 $327,935.05 $1,394.46 $0.00 $1,854.19 $331,183.70
152 $331,183.70 $1,394.46 $0.00 $1,872.56 $334,450.72
153 $334,450.72 $1,394.46 $0.00 $1,891.03 $337,736.21
154 $337,736.21 $1,394.46 $0.00 $1,909.61 $341,040.28
155 $341,040.28 $1,394.46 $0.00 $1,928.29 $344,363.03
156 $344,363.03 $1,394.46 $0.00 $1,947.08 $347,704.57
157 $347,704.57 $1,394.46 $0.00 $1,965.97 $351,065.00
158 $351,065.00 $1,394.46 $0.00 $1,984.97 $354,444.43
159 $354,444.43 $1,394.46 $0.00 $2,004.08 $357,842.97
160 $357,842.97 $1,394.46 $0.00 $2,023.30 $361,260.73
161 $361,260.73 $1,394.46 $0.00 $2,042.62 $364,697.81
162 $364,697.81 $1,394.46 $0.00 $2,062.05 $368,154.32
163 $368,154.32 $1,394.46 $0.00 $2,081.60 $371,630.38
164 $371,630.38 $1,394.46 $0.00 $2,101.25 $375,126.09
165 $375,126.09 $1,394.46 $0.00 $2,121.02 $378,641.57
166 $378,641.57 $1,394.46 $0.00 $2,140.89 $382,176.92
167 $382,176.92 $1,394.46 $0.00 $2,160.88 $385,732.26
168 $385,732.26 $1,394.46 $0.00 $2,180.99 $389,307.71
169 $389,307.71 $1,394.46 $0.00 $2,201.20 $392,903.37
170 $392,903.37 $1,394.46 $0.00 $2,221.53 $396,519.36
171 $396,519.36 $1,394.46 $0.00 $2,241.98 $400,155.80
172 $400,155.80 $1,394.46 $0.00 $2,262.54 $403,812.80
173 $403,812.80 $1,394.46 $0.00 $2,283.22 $407,490.48
174 $407,490.48 $1,394.46 $0.00 $2,304.01 $411,188.95
175 $411,188.95 $1,394.46 $0.00 $2,324.92 $414,908.33
176 $414,908.33 $1,394.46 $0.00 $2,345.95 $418,648.74
177 $418,648.74 $1,394.46 $0.00 $2,367.10 $422,410.30
178 $422,410.30 $1,394.46 $0.00 $2,388.37 $426,193.13
179 $426,193.13 $1,394.46 $0.00 $2,409.76 $429,997.35
180 $429,997.35 $1,394.46 $0.00 $2,431.27 $433,823.08
181 $433,823.08 $1,394.46 $0.00 $2,452.90 $437,670.44
182 $437,670.44 $1,394.46 $0.00 $2,474.65 $441,539.55
183 $441,539.55 $1,394.46 $0.00 $2,496.53 $445,430.54
184 $445,430.54 $1,394.46 $0.00 $2,518.53 $449,343.53
185 $449,343.53 $1,394.46 $0.00 $2,540.65 $453,278.64
186 $453,278.64 $1,394.46 $0.00 $2,562.90 $457,236.00
187 $457,236.00 $1,394.46 $0.00 $2,585.28 $461,215.74
188 $461,215.74 $1,394.46 $0.00 $2,607.78 $465,217.98
189 $465,217.98 $1,394.46 $0.00 $2,630.41 $469,242.85
190 $469,242.85 $1,394.46 $0.00 $2,653.17 $473,290.48
191 $473,290.48 $1,394.46 $0.00 $2,676.05 $477,360.99
192 $477,360.99 $1,394.46 $0.00 $2,699.07 $481,454.52
193 $481,454.52 $1,394.46 $0.00 $2,722.21 $485,571.19
194 $485,571.19 $1,394.46 $0.00 $2,745.49 $489,711.14
195 $489,711.14 $1,394.46 $0.00 $2,768.90 $493,874.50
196 $493,874.50 $1,394.46 $0.00 $2,792.44 $498,061.40
197 $498,061.40 $1,394.46 $0.00 $2,816.11 $502,271.97
198 $502,271.97 $1,394.46 $0.00 $2,839.92 $506,506.35
199 $506,506.35 $1,394.46 $0.00 $2,863.86 $510,764.67
200 $510,764.67 $1,394.46 $0.00 $2,887.94 $515,047.07
201 $515,047.07 $1,394.46 $0.00 $2,912.15 $519,353.68
202 $519,353.68 $1,394.46 $0.00 $2,936.50 $523,684.64
203 $523,684.64 $1,394.46 $0.00 $2,960.99 $528,040.09
204 $528,040.09 $1,394.46 $0.00 $2,985.62 $532,420.17
205 $532,420.17 $1,394.46 $0.00 $3,010.38 $536,825.01
206 $536,825.01 $1,394.46 $0.00 $3,035.29 $541,254.76
207 $541,254.76 $1,394.46 $0.00 $3,060.33 $545,709.55
208 $545,709.55 $1,394.46 $0.00 $3,085.52 $550,189.53
209 $550,189.53 $1,394.46 $0.00 $3,110.85 $554,694.84
210 $554,694.84 $1,394.46 $0.00 $3,136.33 $559,225.63
211 $559,225.63 $1,394.46 $0.00 $3,161.94 $563,782.03
212 $563,782.03 $1,394.46 $0.00 $3,187.71 $568,364.20
213 $568,364.20 $1,394.46 $0.00 $3,213.61 $572,972.27
214 $572,972.27 $1,394.46 $0.00 $3,239.67 $577,606.40
215 $577,606.40 $1,394.46 $0.00 $3,265.87 $582,266.73
216 $582,266.73 $1,394.46 $0.00 $3,292.22 $586,953.41
217 $586,953.41 $1,394.46 $163,486.46 $3,318.72 $428,180.13
218 $428,180.13 $1,394.46 $0.00 $2,420.99 $431,995.58
219 $431,995.58 $1,394.46 $0.00 $2,442.57 $435,832.61
220 $435,832.61 $1,394.46 $0.00 $2,464.26 $439,691.33
221 $439,691.33 $1,394.46 $0.00 $2,486.08 $443,571.87
222 $443,571.87 $1,394.46 $0.00 $2,508.02 $447,474.35
223 $447,474.35 $1,394.46 $0.00 $2,530.09 $451,398.90
224 $451,398.90 $1,394.46 $0.00 $2,552.28 $455,345.64
225 $455,345.64 $1,394.46 $0.00 $2,574.59 $459,314.69
226 $459,314.69 $1,394.46 $0.00 $2,597.03 $463,306.18
227 $463,306.18 $1,394.46 $0.00 $2,619.60 $467,320.24
228 $467,320.24 $1,394.46 $0.00 $2,642.30 $471,357.00
229 $471,357.00 $1,394.46 $171,660.78 $2,665.12 $303,755.80
230 $303,755.80 $1,394.46 $0.00 $1,717.48 $306,867.74
231 $306,867.74 $1,394.46 $0.00 $1,735.07 $309,997.27
232 $309,997.27 $1,394.46 $0.00 $1,752.77 $313,144.50
233 $313,144.50 $1,394.46 $0.00 $1,770.56 $316,309.52
234 $316,309.52 $1,394.46 $0.00 $1,788.46 $319,492.44
235 $319,492.44 $1,394.46 $0.00 $1,806.46 $322,693.36
236 $322,693.36 $1,394.46 $0.00 $1,824.56 $325,912.38
237 $325,912.38 $1,394.46 $0.00 $1,842.76 $329,149.60
238 $329,149.60 $1,394.46 $0.00 $1,861.06 $332,405.12
239 $332,405.12 $1,394.46 $0.00 $1,879.47 $335,679.05
240 $335,679.05 $1,394.46 $0.00 $1,897.98 $338,971.49
241 $338,971.49 $1,394.46 $180,243.82 $1,916.59 $162,038.72
242 $162,038.72 $1,394.46 $0.00 $916.19 $164,349.37
243 $164,349.37 $1,394.46 $0.00 $929.26 $166,673.09
244 $166,673.09 $1,394.46 $0.00 $942.39 $169,009.94
245 $169,009.94 $1,394.46 $0.00 $955.61 $171,360.01
246 $171,360.01 $1,394.46 $0.00 $968.89 $173,723.36
247 $173,723.36 $1,394.46 $0.00 $982.26 $176,100.08
248 $176,100.08 $1,394.46 $0.00 $995.70 $178,490.24
249 $178,490.24 $1,394.46 $0.00 $1,009.21 $180,893.91
250 $180,893.91 $1,394.46 $0.00 $1,022.80 $183,311.17
251 $183,311.17 $1,394.46 $0.00 $1,036.47 $185,742.10
252 $185,742.10 $1,394.46 $0.00 $1,050.21 $188,186.77
253 $188,186.77 $0.00 $189,256.01 $1,064.04 ($5.20)