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 2040$99,838
Monthly savings required$790

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 $399,353.94 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $790.31 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 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 $790.31 $0.00 $0.00 $790.31
2 $790.31 $790.31 $0.00 $4.47 $1,585.09
3 $1,585.09 $790.31 $0.00 $8.96 $2,384.36
4 $2,384.36 $790.31 $0.00 $13.48 $3,188.15
5 $3,188.15 $790.31 $0.00 $18.03 $3,996.49
6 $3,996.49 $790.31 $0.00 $22.60 $4,809.40
7 $4,809.40 $790.31 $0.00 $27.19 $5,626.90
8 $5,626.90 $790.31 $0.00 $31.82 $6,449.03
9 $6,449.03 $790.31 $0.00 $36.46 $7,275.80
10 $7,275.80 $790.31 $0.00 $41.14 $8,107.25
11 $8,107.25 $790.31 $0.00 $45.84 $8,943.40
12 $8,943.40 $790.31 $0.00 $50.57 $9,784.28
13 $9,784.28 $790.31 $0.00 $55.32 $10,629.91
14 $10,629.91 $790.31 $0.00 $60.10 $11,480.32
15 $11,480.32 $790.31 $0.00 $64.91 $12,335.54
16 $12,335.54 $790.31 $0.00 $69.75 $13,195.60
17 $13,195.60 $790.31 $0.00 $74.61 $14,060.52
18 $14,060.52 $790.31 $0.00 $79.50 $14,930.33
19 $14,930.33 $790.31 $0.00 $84.42 $15,805.06
20 $15,805.06 $790.31 $0.00 $89.36 $16,684.73
21 $16,684.73 $790.31 $0.00 $94.34 $17,569.38
22 $17,569.38 $790.31 $0.00 $99.34 $18,459.03
23 $18,459.03 $790.31 $0.00 $104.37 $19,353.71
24 $19,353.71 $790.31 $0.00 $109.43 $20,253.45
25 $20,253.45 $790.31 $0.00 $114.52 $21,158.28
26 $21,158.28 $790.31 $0.00 $119.63 $22,068.22
27 $22,068.22 $790.31 $0.00 $124.78 $22,983.31
28 $22,983.31 $790.31 $0.00 $129.95 $23,903.57
29 $23,903.57 $790.31 $0.00 $135.15 $24,829.03
30 $24,829.03 $790.31 $0.00 $140.39 $25,759.73
31 $25,759.73 $790.31 $0.00 $145.65 $26,695.69
32 $26,695.69 $790.31 $0.00 $150.94 $27,636.94
33 $27,636.94 $790.31 $0.00 $156.26 $28,583.51
34 $28,583.51 $790.31 $0.00 $161.62 $29,535.44
35 $29,535.44 $790.31 $0.00 $167.00 $30,492.75
36 $30,492.75 $790.31 $0.00 $172.41 $31,455.47
37 $31,455.47 $790.31 $0.00 $177.85 $32,423.63
38 $32,423.63 $790.31 $0.00 $183.33 $33,397.27
39 $33,397.27 $790.31 $0.00 $188.83 $34,376.41
40 $34,376.41 $790.31 $0.00 $194.37 $35,361.09
41 $35,361.09 $790.31 $0.00 $199.94 $36,351.34
42 $36,351.34 $790.31 $0.00 $205.54 $37,347.19
43 $37,347.19 $790.31 $0.00 $211.17 $38,348.67
44 $38,348.67 $790.31 $0.00 $216.83 $39,355.81
45 $39,355.81 $790.31 $0.00 $222.52 $40,368.64
46 $40,368.64 $790.31 $0.00 $228.25 $41,387.20
47 $41,387.20 $790.31 $0.00 $234.01 $42,411.52
48 $42,411.52 $790.31 $0.00 $239.80 $43,441.63
49 $43,441.63 $790.31 $0.00 $245.63 $44,477.57
50 $44,477.57 $790.31 $0.00 $251.48 $45,519.36
51 $45,519.36 $790.31 $0.00 $257.37 $46,567.04
52 $46,567.04 $790.31 $0.00 $263.30 $47,620.65
53 $47,620.65 $790.31 $0.00 $269.25 $48,680.21
54 $48,680.21 $790.31 $0.00 $275.24 $49,745.76
55 $49,745.76 $790.31 $0.00 $281.27 $50,817.34
56 $50,817.34 $790.31 $0.00 $287.33 $51,894.98
57 $51,894.98 $790.31 $0.00 $293.42 $52,978.71
58 $52,978.71 $790.31 $0.00 $299.55 $54,068.57
59 $54,068.57 $790.31 $0.00 $305.71 $55,164.59
60 $55,164.59 $790.31 $0.00 $311.91 $56,266.81
61 $56,266.81 $790.31 $0.00 $318.14 $57,375.26
62 $57,375.26 $790.31 $0.00 $324.41 $58,489.98
63 $58,489.98 $790.31 $0.00 $330.71 $59,611.00
64 $59,611.00 $790.31 $0.00 $337.05 $60,738.36
65 $60,738.36 $790.31 $0.00 $343.42 $61,872.09
66 $61,872.09 $790.31 $0.00 $349.83 $63,012.23
67 $63,012.23 $790.31 $0.00 $356.28 $64,158.82
68 $64,158.82 $790.31 $0.00 $362.76 $65,311.89
69 $65,311.89 $790.31 $0.00 $369.28 $66,471.48
70 $66,471.48 $790.31 $0.00 $375.84 $67,637.63
71 $67,637.63 $790.31 $0.00 $382.43 $68,810.37
72 $68,810.37 $790.31 $0.00 $389.06 $69,989.74
73 $69,989.74 $790.31 $0.00 $395.73 $71,175.78
74 $71,175.78 $790.31 $0.00 $402.44 $72,368.53
75 $72,368.53 $790.31 $0.00 $409.18 $73,568.02
76 $73,568.02 $790.31 $0.00 $415.96 $74,774.29
77 $74,774.29 $790.31 $0.00 $422.78 $75,987.38
78 $75,987.38 $790.31 $0.00 $429.64 $77,207.33
79 $77,207.33 $790.31 $0.00 $436.54 $78,434.18
80 $78,434.18 $790.31 $0.00 $443.48 $79,667.97
81 $79,667.97 $790.31 $0.00 $450.45 $80,908.73
82 $80,908.73 $790.31 $0.00 $457.47 $82,156.51
83 $82,156.51 $790.31 $0.00 $464.52 $83,411.34
84 $83,411.34 $790.31 $0.00 $471.62 $84,673.27
85 $84,673.27 $790.31 $0.00 $478.75 $85,942.33
86 $85,942.33 $790.31 $0.00 $485.93 $87,218.57
87 $87,218.57 $790.31 $0.00 $493.15 $88,502.03
88 $88,502.03 $790.31 $0.00 $500.40 $89,792.74
89 $89,792.74 $790.31 $0.00 $507.70 $91,090.75
90 $91,090.75 $790.31 $0.00 $515.04 $92,396.10
91 $92,396.10 $790.31 $0.00 $522.42 $93,708.83
92 $93,708.83 $790.31 $0.00 $529.84 $95,028.98
93 $95,028.98 $790.31 $0.00 $537.31 $96,356.60
94 $96,356.60 $790.31 $0.00 $544.81 $97,691.72
95 $97,691.72 $790.31 $0.00 $552.36 $99,034.39
96 $99,034.39 $790.31 $0.00 $559.95 $100,384.65
97 $100,384.65 $790.31 $0.00 $567.59 $101,742.55
98 $101,742.55 $790.31 $0.00 $575.27 $103,108.13
99 $103,108.13 $790.31 $0.00 $582.99 $104,481.43
100 $104,481.43 $790.31 $0.00 $590.75 $105,862.49
101 $105,862.49 $790.31 $0.00 $598.56 $107,251.36
102 $107,251.36 $790.31 $0.00 $606.41 $108,648.08
103 $108,648.08 $790.31 $0.00 $614.31 $110,052.70
104 $110,052.70 $790.31 $0.00 $622.25 $111,465.26
105 $111,465.26 $790.31 $0.00 $630.24 $112,885.81
106 $112,885.81 $790.31 $0.00 $638.27 $114,314.39
107 $114,314.39 $790.31 $0.00 $646.35 $115,751.05
108 $115,751.05 $790.31 $0.00 $654.47 $117,195.83
109 $117,195.83 $790.31 $0.00 $662.64 $118,648.78
110 $118,648.78 $790.31 $0.00 $670.86 $120,109.95
111 $120,109.95 $790.31 $0.00 $679.12 $121,579.38
112 $121,579.38 $790.31 $0.00 $687.43 $123,057.12
113 $123,057.12 $790.31 $0.00 $695.78 $124,543.21
114 $124,543.21 $790.31 $0.00 $704.19 $126,037.71
115 $126,037.71 $790.31 $0.00 $712.64 $127,540.66
116 $127,540.66 $790.31 $0.00 $721.13 $129,052.10
117 $129,052.10 $790.31 $0.00 $729.68 $130,572.09
118 $130,572.09 $790.31 $0.00 $738.27 $132,100.67
119 $132,100.67 $790.31 $0.00 $746.92 $133,637.90
120 $133,637.90 $790.31 $0.00 $755.61 $135,183.82
121 $135,183.82 $790.31 $0.00 $764.35 $136,738.48
122 $136,738.48 $790.31 $0.00 $773.14 $138,301.93
123 $138,301.93 $790.31 $0.00 $781.98 $139,874.22
124 $139,874.22 $790.31 $0.00 $790.87 $141,455.40
125 $141,455.40 $790.31 $0.00 $799.81 $143,045.52
126 $143,045.52 $790.31 $0.00 $808.80 $144,644.63
127 $144,644.63 $790.31 $0.00 $817.84 $146,252.78
128 $146,252.78 $790.31 $0.00 $826.93 $147,870.02
129 $147,870.02 $790.31 $0.00 $836.08 $149,496.41
130 $149,496.41 $790.31 $0.00 $845.27 $151,131.99
131 $151,131.99 $790.31 $0.00 $854.52 $152,776.82
132 $152,776.82 $790.31 $0.00 $863.82 $154,430.95
133 $154,430.95 $790.31 $0.00 $873.18 $156,094.44
134 $156,094.44 $790.31 $0.00 $882.58 $157,767.33
135 $157,767.33 $790.31 $0.00 $892.04 $159,449.68
136 $159,449.68 $790.31 $0.00 $901.55 $161,141.54
137 $161,141.54 $790.31 $0.00 $911.12 $162,842.97
138 $162,842.97 $790.31 $0.00 $920.74 $164,554.02
139 $164,554.02 $790.31 $0.00 $930.41 $166,274.74
140 $166,274.74 $790.31 $0.00 $940.14 $168,005.19
141 $168,005.19 $790.31 $0.00 $949.93 $169,745.43
142 $169,745.43 $790.31 $0.00 $959.77 $171,495.51
143 $171,495.51 $790.31 $0.00 $969.66 $173,255.48
144 $173,255.48 $790.31 $0.00 $979.61 $175,025.40
145 $175,025.40 $790.31 $0.00 $989.62 $176,805.33
146 $176,805.33 $790.31 $0.00 $999.68 $178,595.32
147 $178,595.32 $790.31 $0.00 $1,009.80 $180,395.43
148 $180,395.43 $790.31 $0.00 $1,019.98 $182,205.72
149 $182,205.72 $790.31 $0.00 $1,030.22 $184,026.25
150 $184,026.25 $790.31 $0.00 $1,040.51 $185,857.07
151 $185,857.07 $790.31 $0.00 $1,050.86 $187,698.24
152 $187,698.24 $790.31 $0.00 $1,061.27 $189,549.82
153 $189,549.82 $790.31 $0.00 $1,071.74 $191,411.87
154 $191,411.87 $790.31 $0.00 $1,082.27 $193,284.45
155 $193,284.45 $790.31 $0.00 $1,092.86 $195,167.62
156 $195,167.62 $790.31 $0.00 $1,103.51 $197,061.44
157 $197,061.44 $790.31 $0.00 $1,114.21 $198,965.96
158 $198,965.96 $790.31 $0.00 $1,124.98 $200,881.25
159 $200,881.25 $790.31 $0.00 $1,135.81 $202,807.37
160 $202,807.37 $790.31 $0.00 $1,146.70 $204,744.38
161 $204,744.38 $790.31 $0.00 $1,157.65 $206,692.34
162 $206,692.34 $790.31 $0.00 $1,168.67 $208,651.32
163 $208,651.32 $790.31 $0.00 $1,179.74 $210,621.37
164 $210,621.37 $790.31 $0.00 $1,190.88 $212,602.56
165 $212,602.56 $790.31 $0.00 $1,202.09 $214,594.96
166 $214,594.96 $790.31 $0.00 $1,213.35 $216,598.62
167 $216,598.62 $790.31 $0.00 $1,224.68 $218,613.61
168 $218,613.61 $790.31 $0.00 $1,236.07 $220,639.99
169 $220,639.99 $790.31 $0.00 $1,247.53 $222,677.83
170 $222,677.83 $790.31 $0.00 $1,259.05 $224,727.19
171 $224,727.19 $790.31 $0.00 $1,270.64 $226,788.14
172 $226,788.14 $790.31 $0.00 $1,282.29 $228,860.74
173 $228,860.74 $790.31 $0.00 $1,294.01 $230,945.06
174 $230,945.06 $790.31 $0.00 $1,305.80 $233,041.17
175 $233,041.17 $790.31 $0.00 $1,317.65 $235,149.13
176 $235,149.13 $790.31 $0.00 $1,329.57 $237,269.01
177 $237,269.01 $790.31 $0.00 $1,341.55 $239,400.87
178 $239,400.87 $790.31 $0.00 $1,353.61 $241,544.79
179 $241,544.79 $790.31 $0.00 $1,365.73 $243,700.83
180 $243,700.83 $790.31 $0.00 $1,377.92 $245,869.06
181 $245,869.06 $790.31 $0.00 $1,390.18 $248,049.55
182 $248,049.55 $790.31 $0.00 $1,402.51 $250,242.37
183 $250,242.37 $790.31 $0.00 $1,414.91 $252,447.59
184 $252,447.59 $790.31 $0.00 $1,427.38 $254,665.28
185 $254,665.28 $790.31 $0.00 $1,439.91 $256,895.50
186 $256,895.50 $790.31 $0.00 $1,452.52 $259,138.33
187 $259,138.33 $790.31 $0.00 $1,465.21 $261,393.85
188 $261,393.85 $790.31 $0.00 $1,477.96 $263,662.12
189 $263,662.12 $790.31 $0.00 $1,490.78 $265,943.21
190 $265,943.21 $790.31 $0.00 $1,503.68 $268,237.20
191 $268,237.20 $790.31 $0.00 $1,516.65 $270,544.16
192 $270,544.16 $790.31 $0.00 $1,529.70 $272,864.17
193 $272,864.17 $790.31 $0.00 $1,542.81 $275,197.29
194 $275,197.29 $790.31 $0.00 $1,556.01 $277,543.61
195 $277,543.61 $790.31 $0.00 $1,569.27 $279,903.19
196 $279,903.19 $790.31 $0.00 $1,582.61 $282,276.11
197 $282,276.11 $790.31 $0.00 $1,596.03 $284,662.45
198 $284,662.45 $790.31 $0.00 $1,609.52 $287,062.28
199 $287,062.28 $790.31 $0.00 $1,623.09 $289,475.68
200 $289,475.68 $790.31 $0.00 $1,636.74 $291,902.73
201 $291,902.73 $790.31 $0.00 $1,650.46 $294,343.50
202 $294,343.50 $790.31 $0.00 $1,664.26 $296,798.07
203 $296,798.07 $790.31 $0.00 $1,678.14 $299,266.52
204 $299,266.52 $790.31 $0.00 $1,692.10 $301,748.93
205 $301,748.93 $790.31 $0.00 $1,706.13 $304,245.37
206 $304,245.37 $790.31 $0.00 $1,720.25 $306,755.93
207 $306,755.93 $790.31 $0.00 $1,734.44 $309,280.68
208 $309,280.68 $790.31 $0.00 $1,748.72 $311,819.71
209 $311,819.71 $790.31 $0.00 $1,763.07 $314,373.09
210 $314,373.09 $790.31 $0.00 $1,777.51 $316,940.91
211 $316,940.91 $790.31 $0.00 $1,792.03 $319,523.25
212 $319,523.25 $790.31 $0.00 $1,806.63 $322,120.19
213 $322,120.19 $790.31 $0.00 $1,821.31 $324,731.81
214 $324,731.81 $790.31 $0.00 $1,836.08 $327,358.20
215 $327,358.20 $790.31 $0.00 $1,850.93 $329,999.44
216 $329,999.44 $790.31 $0.00 $1,865.86 $332,655.61
217 $332,655.61 $790.31 $92,654.84 $1,880.88 $242,671.96
218 $242,671.96 $790.31 $0.00 $1,372.10 $244,834.37
219 $244,834.37 $790.31 $0.00 $1,384.33 $247,009.01
220 $247,009.01 $790.31 $0.00 $1,396.62 $249,195.94
221 $249,195.94 $790.31 $0.00 $1,408.99 $251,395.24
222 $251,395.24 $790.31 $0.00 $1,421.43 $253,606.98
223 $253,606.98 $790.31 $0.00 $1,433.93 $255,831.22
224 $255,831.22 $790.31 $0.00 $1,446.51 $258,068.04
225 $258,068.04 $790.31 $0.00 $1,459.15 $260,317.50
226 $260,317.50 $790.31 $0.00 $1,471.87 $262,579.68
227 $262,579.68 $790.31 $0.00 $1,484.66 $264,854.65
228 $264,854.65 $790.31 $0.00 $1,497.53 $267,142.49
229 $267,142.49 $790.31 $97,287.58 $1,510.46 $172,155.68
230 $172,155.68 $790.31 $0.00 $973.39 $173,919.38
231 $173,919.38 $790.31 $0.00 $983.37 $175,693.06
232 $175,693.06 $790.31 $0.00 $993.39 $177,476.76
233 $177,476.76 $790.31 $0.00 $1,003.48 $179,270.55
234 $179,270.55 $790.31 $0.00 $1,013.62 $181,074.48
235 $181,074.48 $790.31 $0.00 $1,023.82 $182,888.61
236 $182,888.61 $790.31 $0.00 $1,034.08 $184,713.00
237 $184,713.00 $790.31 $0.00 $1,044.39 $186,547.70
238 $186,547.70 $790.31 $0.00 $1,054.77 $188,392.78
239 $188,392.78 $790.31 $0.00 $1,065.20 $190,248.29
240 $190,248.29 $790.31 $0.00 $1,075.69 $192,114.29
241 $192,114.29 $790.31 $102,151.96 $1,086.24 $91,838.88
242 $91,838.88 $790.31 $0.00 $519.27 $93,148.46
243 $93,148.46 $790.31 $0.00 $526.67 $94,465.44
244 $94,465.44 $790.31 $0.00 $534.12 $95,789.87
245 $95,789.87 $790.31 $0.00 $541.61 $97,121.79
246 $97,121.79 $790.31 $0.00 $549.14 $98,461.24
247 $98,461.24 $790.31 $0.00 $556.71 $99,808.26
248 $99,808.26 $790.31 $0.00 $564.33 $101,162.90
249 $101,162.90 $790.31 $0.00 $571.99 $102,525.20
250 $102,525.20 $790.31 $0.00 $579.69 $103,895.20
251 $103,895.20 $790.31 $0.00 $587.44 $105,272.95
252 $105,272.95 $790.31 $0.00 $595.23 $106,658.49
253 $106,658.49 $0.00 $107,259.56 $603.06 $1.99