Savings Plan and Future Cost Estimation for School of the Art Institute of Chicago

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$283,064
Monthly savings required$2,237

How much will it cost to send your child to School of the Art Institute of Chicago in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $1,132,256.02 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $2,237.12 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$75,450.00
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 $2,237.12 $0.00 $0.00 $2,237.12
2 $2,237.12 $2,237.12 $0.00 $12.65 $4,486.89
3 $4,486.89 $2,237.12 $0.00 $25.37 $6,749.38
4 $6,749.38 $2,237.12 $0.00 $38.16 $9,024.66
5 $9,024.66 $2,237.12 $0.00 $51.03 $11,312.81
6 $11,312.81 $2,237.12 $0.00 $63.96 $13,613.89
7 $13,613.89 $2,237.12 $0.00 $76.97 $15,927.98
8 $15,927.98 $2,237.12 $0.00 $90.06 $18,255.16
9 $18,255.16 $2,237.12 $0.00 $103.22 $20,595.50
10 $20,595.50 $2,237.12 $0.00 $116.45 $22,949.07
11 $22,949.07 $2,237.12 $0.00 $129.76 $25,315.95
12 $25,315.95 $2,237.12 $0.00 $143.14 $27,696.21
13 $27,696.21 $2,237.12 $0.00 $156.60 $30,089.93
14 $30,089.93 $2,237.12 $0.00 $170.13 $32,497.18
15 $32,497.18 $2,237.12 $0.00 $183.74 $34,918.04
16 $34,918.04 $2,237.12 $0.00 $197.43 $37,352.59
17 $37,352.59 $2,237.12 $0.00 $211.20 $39,800.91
18 $39,800.91 $2,237.12 $0.00 $225.04 $42,263.07
19 $42,263.07 $2,237.12 $0.00 $238.96 $44,739.15
20 $44,739.15 $2,237.12 $0.00 $252.96 $47,229.23
21 $47,229.23 $2,237.12 $0.00 $267.04 $49,733.39
22 $49,733.39 $2,237.12 $0.00 $281.20 $52,251.71
23 $52,251.71 $2,237.12 $0.00 $295.44 $54,784.27
24 $54,784.27 $2,237.12 $0.00 $309.76 $57,331.15
25 $57,331.15 $2,237.12 $0.00 $324.16 $59,892.43
26 $59,892.43 $2,237.12 $0.00 $338.64 $62,468.19
27 $62,468.19 $2,237.12 $0.00 $353.20 $65,058.51
28 $65,058.51 $2,237.12 $0.00 $367.85 $67,663.48
29 $67,663.48 $2,237.12 $0.00 $382.58 $70,283.18
30 $70,283.18 $2,237.12 $0.00 $397.39 $72,917.69
31 $72,917.69 $2,237.12 $0.00 $412.29 $75,567.10
32 $75,567.10 $2,237.12 $0.00 $427.27 $78,231.49
33 $78,231.49 $2,237.12 $0.00 $442.33 $80,910.94
34 $80,910.94 $2,237.12 $0.00 $457.48 $83,605.54
35 $83,605.54 $2,237.12 $0.00 $472.72 $86,315.38
36 $86,315.38 $2,237.12 $0.00 $488.04 $89,040.54
37 $89,040.54 $2,237.12 $0.00 $503.45 $91,781.11
38 $91,781.11 $2,237.12 $0.00 $518.94 $94,537.17
39 $94,537.17 $2,237.12 $0.00 $534.53 $97,308.82
40 $97,308.82 $2,237.12 $0.00 $550.20 $100,096.14
41 $100,096.14 $2,237.12 $0.00 $565.96 $102,899.22
42 $102,899.22 $2,237.12 $0.00 $581.81 $105,718.15
43 $105,718.15 $2,237.12 $0.00 $597.75 $108,553.02
44 $108,553.02 $2,237.12 $0.00 $613.77 $111,403.91
45 $111,403.91 $2,237.12 $0.00 $629.89 $114,270.92
46 $114,270.92 $2,237.12 $0.00 $646.10 $117,154.14
47 $117,154.14 $2,237.12 $0.00 $662.41 $120,053.67
48 $120,053.67 $2,237.12 $0.00 $678.80 $122,969.59
49 $122,969.59 $2,237.12 $0.00 $695.29 $125,902.00
50 $125,902.00 $2,237.12 $0.00 $711.87 $128,850.99
51 $128,850.99 $2,237.12 $0.00 $728.54 $131,816.65
52 $131,816.65 $2,237.12 $0.00 $745.31 $134,799.08
53 $134,799.08 $2,237.12 $0.00 $762.17 $137,798.37
54 $137,798.37 $2,237.12 $0.00 $779.13 $140,814.62
55 $140,814.62 $2,237.12 $0.00 $796.19 $143,847.93
56 $143,847.93 $2,237.12 $0.00 $813.34 $146,898.39
57 $146,898.39 $2,237.12 $0.00 $830.58 $149,966.09
58 $149,966.09 $2,237.12 $0.00 $847.93 $153,051.14
59 $153,051.14 $2,237.12 $0.00 $865.37 $156,153.63
60 $156,153.63 $2,237.12 $0.00 $882.92 $159,273.67
61 $159,273.67 $2,237.12 $0.00 $900.56 $162,411.35
62 $162,411.35 $2,237.12 $0.00 $918.30 $165,566.77
63 $165,566.77 $2,237.12 $0.00 $936.14 $168,740.03
64 $168,740.03 $2,237.12 $0.00 $954.08 $171,931.23
65 $171,931.23 $2,237.12 $0.00 $972.12 $175,140.47
66 $175,140.47 $2,237.12 $0.00 $990.27 $178,367.86
67 $178,367.86 $2,237.12 $0.00 $1,008.52 $181,613.50
68 $181,613.50 $2,237.12 $0.00 $1,026.87 $184,877.49
69 $184,877.49 $2,237.12 $0.00 $1,045.32 $188,159.93
70 $188,159.93 $2,237.12 $0.00 $1,063.88 $191,460.93
71 $191,460.93 $2,237.12 $0.00 $1,082.55 $194,780.60
72 $194,780.60 $2,237.12 $0.00 $1,101.32 $198,119.04
73 $198,119.04 $2,237.12 $0.00 $1,120.19 $201,476.35
74 $201,476.35 $2,237.12 $0.00 $1,139.18 $204,852.65
75 $204,852.65 $2,237.12 $0.00 $1,158.27 $208,248.04
76 $208,248.04 $2,237.12 $0.00 $1,177.46 $211,662.62
77 $211,662.62 $2,237.12 $0.00 $1,196.77 $215,096.51
78 $215,096.51 $2,237.12 $0.00 $1,216.19 $218,549.82
79 $218,549.82 $2,237.12 $0.00 $1,235.71 $222,022.65
80 $222,022.65 $2,237.12 $0.00 $1,255.35 $225,515.12
81 $225,515.12 $2,237.12 $0.00 $1,275.10 $229,027.34
82 $229,027.34 $2,237.12 $0.00 $1,294.95 $232,559.41
83 $232,559.41 $2,237.12 $0.00 $1,314.92 $236,111.45
84 $236,111.45 $2,237.12 $0.00 $1,335.01 $239,683.58
85 $239,683.58 $2,237.12 $0.00 $1,355.21 $243,275.91
86 $243,275.91 $2,237.12 $0.00 $1,375.52 $246,888.55
87 $246,888.55 $2,237.12 $0.00 $1,395.94 $250,521.61
88 $250,521.61 $2,237.12 $0.00 $1,416.49 $254,175.22
89 $254,175.22 $2,237.12 $0.00 $1,437.14 $257,849.48
90 $257,849.48 $2,237.12 $0.00 $1,457.92 $261,544.52
91 $261,544.52 $2,237.12 $0.00 $1,478.81 $265,260.45
92 $265,260.45 $2,237.12 $0.00 $1,499.82 $268,997.39
93 $268,997.39 $2,237.12 $0.00 $1,520.95 $272,755.46
94 $272,755.46 $2,237.12 $0.00 $1,542.20 $276,534.78
95 $276,534.78 $2,237.12 $0.00 $1,563.57 $280,335.47
96 $280,335.47 $2,237.12 $0.00 $1,585.06 $284,157.65
97 $284,157.65 $2,237.12 $0.00 $1,606.67 $288,001.44
98 $288,001.44 $2,237.12 $0.00 $1,628.40 $291,866.96
99 $291,866.96 $2,237.12 $0.00 $1,650.26 $295,754.34
100 $295,754.34 $2,237.12 $0.00 $1,672.24 $299,663.70
101 $299,663.70 $2,237.12 $0.00 $1,694.34 $303,595.16
102 $303,595.16 $2,237.12 $0.00 $1,716.57 $307,548.85
103 $307,548.85 $2,237.12 $0.00 $1,738.93 $311,524.90
104 $311,524.90 $2,237.12 $0.00 $1,761.41 $315,523.43
105 $315,523.43 $2,237.12 $0.00 $1,784.02 $319,544.57
106 $319,544.57 $2,237.12 $0.00 $1,806.75 $323,588.44
107 $323,588.44 $2,237.12 $0.00 $1,829.62 $327,655.18
108 $327,655.18 $2,237.12 $0.00 $1,852.61 $331,744.91
109 $331,744.91 $2,237.12 $0.00 $1,875.73 $335,857.76
110 $335,857.76 $2,237.12 $0.00 $1,898.99 $339,993.87
111 $339,993.87 $2,237.12 $0.00 $1,922.37 $344,153.36
112 $344,153.36 $2,237.12 $0.00 $1,945.89 $348,336.37
113 $348,336.37 $2,237.12 $0.00 $1,969.54 $352,543.03
114 $352,543.03 $2,237.12 $0.00 $1,993.33 $356,773.48
115 $356,773.48 $2,237.12 $0.00 $2,017.25 $361,027.85
116 $361,027.85 $2,237.12 $0.00 $2,041.30 $365,306.27
117 $365,306.27 $2,237.12 $0.00 $2,065.49 $369,608.88
118 $369,608.88 $2,237.12 $0.00 $2,089.82 $373,935.82
119 $373,935.82 $2,237.12 $0.00 $2,114.29 $378,287.23
120 $378,287.23 $2,237.12 $0.00 $2,138.89 $382,663.24
121 $382,663.24 $2,237.12 $0.00 $2,163.63 $387,063.99
122 $387,063.99 $2,237.12 $0.00 $2,188.52 $391,489.63
123 $391,489.63 $2,237.12 $0.00 $2,213.54 $395,940.29
124 $395,940.29 $2,237.12 $0.00 $2,238.70 $400,416.11
125 $400,416.11 $2,237.12 $0.00 $2,264.01 $404,917.24
126 $404,917.24 $2,237.12 $0.00 $2,289.46 $409,443.82
127 $409,443.82 $2,237.12 $0.00 $2,315.05 $413,995.99
128 $413,995.99 $2,237.12 $0.00 $2,340.79 $418,573.90
129 $418,573.90 $2,237.12 $0.00 $2,366.68 $423,177.70
130 $423,177.70 $2,237.12 $0.00 $2,392.71 $427,807.53
131 $427,807.53 $2,237.12 $0.00 $2,418.89 $432,463.54
132 $432,463.54 $2,237.12 $0.00 $2,445.21 $437,145.87
133 $437,145.87 $2,237.12 $0.00 $2,471.69 $441,854.68
134 $441,854.68 $2,237.12 $0.00 $2,498.31 $446,590.11
135 $446,590.11 $2,237.12 $0.00 $2,525.09 $451,352.32
136 $451,352.32 $2,237.12 $0.00 $2,552.01 $456,141.45
137 $456,141.45 $2,237.12 $0.00 $2,579.09 $460,957.66
138 $460,957.66 $2,237.12 $0.00 $2,606.32 $465,801.10
139 $465,801.10 $2,237.12 $0.00 $2,633.71 $470,671.93
140 $470,671.93 $2,237.12 $0.00 $2,661.25 $475,570.30
141 $475,570.30 $2,237.12 $0.00 $2,688.94 $480,496.36
142 $480,496.36 $2,237.12 $0.00 $2,716.80 $485,450.28
143 $485,450.28 $2,237.12 $0.00 $2,744.81 $490,432.21
144 $490,432.21 $2,237.12 $0.00 $2,772.98 $495,442.31
145 $495,442.31 $2,237.12 $0.00 $2,801.30 $500,480.73
146 $500,480.73 $2,237.12 $0.00 $2,829.79 $505,547.64
147 $505,547.64 $2,237.12 $0.00 $2,858.44 $510,643.20
148 $510,643.20 $2,237.12 $0.00 $2,887.25 $515,767.57
149 $515,767.57 $2,237.12 $0.00 $2,916.22 $520,920.91
150 $520,920.91 $2,237.12 $0.00 $2,945.36 $526,103.39
151 $526,103.39 $2,237.12 $0.00 $2,974.67 $531,315.18
152 $531,315.18 $2,237.12 $0.00 $3,004.13 $536,556.43
153 $536,556.43 $2,237.12 $0.00 $3,033.77 $541,827.32
154 $541,827.32 $2,237.12 $0.00 $3,063.57 $547,128.01
155 $547,128.01 $2,237.12 $0.00 $3,093.54 $552,458.67
156 $552,458.67 $2,237.12 $0.00 $3,123.68 $557,819.47
157 $557,819.47 $2,237.12 $0.00 $3,153.99 $563,210.58
158 $563,210.58 $2,237.12 $0.00 $3,184.47 $568,632.17
159 $568,632.17 $2,237.12 $0.00 $3,215.13 $574,084.42
160 $574,084.42 $2,237.12 $0.00 $3,245.96 $579,567.50
161 $579,567.50 $2,237.12 $0.00 $3,276.96 $585,081.58
162 $585,081.58 $2,237.12 $0.00 $3,308.14 $590,626.84
163 $590,626.84 $2,237.12 $0.00 $3,339.49 $596,203.45
164 $596,203.45 $2,237.12 $0.00 $3,371.02 $601,811.59
165 $601,811.59 $2,237.12 $0.00 $3,402.73 $607,451.44
166 $607,451.44 $2,237.12 $0.00 $3,434.62 $613,123.18
167 $613,123.18 $2,237.12 $0.00 $3,466.69 $618,826.99
168 $618,826.99 $2,237.12 $0.00 $3,498.94 $624,563.05
169 $624,563.05 $2,237.12 $0.00 $3,531.37 $630,331.54
170 $630,331.54 $2,237.12 $0.00 $3,563.99 $636,132.65
171 $636,132.65 $2,237.12 $0.00 $3,596.79 $641,966.56
172 $641,966.56 $2,237.12 $0.00 $3,629.77 $647,833.45
173 $647,833.45 $2,237.12 $0.00 $3,662.94 $653,733.51
174 $653,733.51 $2,237.12 $0.00 $3,696.30 $659,666.93
175 $659,666.93 $2,237.12 $0.00 $3,729.85 $665,633.90
176 $665,633.90 $2,237.12 $0.00 $3,763.59 $671,634.61
177 $671,634.61 $2,237.12 $0.00 $3,797.52 $677,669.25
178 $677,669.25 $2,237.12 $0.00 $3,831.64 $683,738.01
179 $683,738.01 $2,237.12 $0.00 $3,865.95 $689,841.08
180 $689,841.08 $2,237.12 $0.00 $3,900.46 $695,978.66
181 $695,978.66 $2,237.12 $0.00 $3,935.16 $702,150.94
182 $702,150.94 $2,237.12 $0.00 $3,970.06 $708,358.12
183 $708,358.12 $2,237.12 $0.00 $4,005.16 $714,600.40
184 $714,600.40 $2,237.12 $0.00 $4,040.45 $720,877.97
185 $720,877.97 $2,237.12 $0.00 $4,075.95 $727,191.04
186 $727,191.04 $2,237.12 $0.00 $4,111.64 $733,539.80
187 $733,539.80 $2,237.12 $0.00 $4,147.54 $739,924.46
188 $739,924.46 $2,237.12 $0.00 $4,183.64 $746,345.22
189 $746,345.22 $2,237.12 $0.00 $4,219.94 $752,802.28
190 $752,802.28 $2,237.12 $0.00 $4,256.45 $759,295.85
191 $759,295.85 $2,237.12 $0.00 $4,293.17 $765,826.14
192 $765,826.14 $2,237.12 $0.00 $4,330.09 $772,393.35
193 $772,393.35 $2,237.12 $0.00 $4,367.22 $778,997.69
194 $778,997.69 $2,237.12 $0.00 $4,404.57 $785,639.38
195 $785,639.38 $2,237.12 $0.00 $4,442.12 $792,318.62
196 $792,318.62 $2,237.12 $0.00 $4,479.88 $799,035.62
197 $799,035.62 $2,237.12 $0.00 $4,517.86 $805,790.60
198 $805,790.60 $2,237.12 $0.00 $4,556.06 $812,583.78
199 $812,583.78 $2,237.12 $0.00 $4,594.47 $819,415.37
200 $819,415.37 $2,237.12 $0.00 $4,633.09 $826,285.58
201 $826,285.58 $2,237.12 $0.00 $4,671.94 $833,194.64
202 $833,194.64 $2,237.12 $0.00 $4,711.00 $840,142.76
203 $840,142.76 $2,237.12 $0.00 $4,750.29 $847,130.17
204 $847,130.17 $2,237.12 $0.00 $4,789.80 $854,157.09
205 $854,157.09 $2,237.12 $0.00 $4,829.53 $861,223.74
206 $861,223.74 $2,237.12 $0.00 $4,869.48 $868,330.34
207 $868,330.34 $2,237.12 $0.00 $4,909.67 $875,477.13
208 $875,477.13 $2,237.12 $0.00 $4,950.07 $882,664.32
209 $882,664.32 $2,237.12 $0.00 $4,990.71 $889,892.15
210 $889,892.15 $2,237.12 $0.00 $5,031.58 $897,160.85
211 $897,160.85 $2,237.12 $0.00 $5,072.68 $904,470.65
212 $904,470.65 $2,237.12 $0.00 $5,114.01 $911,821.78
213 $911,821.78 $2,237.12 $0.00 $5,155.57 $919,214.47
214 $919,214.47 $2,237.12 $0.00 $5,197.37 $926,648.96
215 $926,648.96 $2,237.12 $0.00 $5,239.41 $934,125.49
216 $934,125.49 $2,237.12 $0.00 $5,281.68 $941,644.29
217 $941,644.29 $2,237.12 $255,015.89 $5,324.19 $694,189.71
218 $694,189.71 $2,237.12 $0.00 $3,925.05 $700,351.88
219 $700,351.88 $2,237.12 $0.00 $3,959.89 $706,548.89
220 $706,548.89 $2,237.12 $0.00 $3,994.93 $712,780.94
221 $712,780.94 $2,237.12 $0.00 $4,030.17 $719,048.23
222 $719,048.23 $2,237.12 $0.00 $4,065.60 $725,350.95
223 $725,350.95 $2,237.12 $0.00 $4,101.24 $731,689.31
224 $731,689.31 $2,237.12 $0.00 $4,137.08 $738,063.51
225 $738,063.51 $2,237.12 $0.00 $4,173.12 $744,473.75
226 $744,473.75 $2,237.12 $0.00 $4,209.36 $750,920.23
227 $750,920.23 $2,237.12 $0.00 $4,245.81 $757,403.16
228 $757,403.16 $2,237.12 $0.00 $4,282.47 $763,922.75
229 $763,922.75 $2,237.12 $272,867.00 $4,319.33 $497,612.20
230 $497,612.20 $2,237.12 $0.00 $2,813.57 $502,662.89
231 $502,662.89 $2,237.12 $0.00 $2,842.13 $507,742.14
232 $507,742.14 $2,237.12 $0.00 $2,870.85 $512,850.11
233 $512,850.11 $2,237.12 $0.00 $2,899.73 $517,986.96
234 $517,986.96 $2,237.12 $0.00 $2,928.77 $523,152.85
235 $523,152.85 $2,237.12 $0.00 $2,957.98 $528,347.95
236 $528,347.95 $2,237.12 $0.00 $2,987.36 $533,572.43
237 $533,572.43 $2,237.12 $0.00 $3,016.90 $538,826.45
238 $538,826.45 $2,237.12 $0.00 $3,046.60 $544,110.17
239 $544,110.17 $2,237.12 $0.00 $3,076.48 $549,423.77
240 $549,423.77 $2,237.12 $0.00 $3,106.52 $554,767.41
241 $554,767.41 $2,237.12 $291,967.69 $3,136.74 $268,173.58
242 $268,173.58 $2,237.12 $0.00 $1,516.29 $271,926.99
243 $271,926.99 $2,237.12 $0.00 $1,537.51 $275,701.62
244 $275,701.62 $2,237.12 $0.00 $1,558.86 $279,497.60
245 $279,497.60 $2,237.12 $0.00 $1,580.32 $283,315.04
246 $283,315.04 $2,237.12 $0.00 $1,601.90 $287,154.06
247 $287,154.06 $2,237.12 $0.00 $1,623.61 $291,014.79
248 $291,014.79 $2,237.12 $0.00 $1,645.44 $294,897.35
249 $294,897.35 $2,237.12 $0.00 $1,667.39 $298,801.86
250 $298,801.86 $2,237.12 $0.00 $1,689.47 $302,728.45
251 $302,728.45 $2,237.12 $0.00 $1,711.67 $306,677.24
252 $306,677.24 $2,237.12 $0.00 $1,734.00 $310,648.36
253 $310,648.36 $0.00 $312,405.43 $1,756.45 -$0.62