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$99,761
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 $399,042.76 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $789.69 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$38,470.00
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 $789.69 $0.00 $0.00 $789.69
2 $789.69 $789.69 $0.00 $4.47 $1,583.85
3 $1,583.85 $789.69 $0.00 $8.96 $2,382.50
4 $2,382.50 $789.69 $0.00 $13.47 $3,185.66
5 $3,185.66 $789.69 $0.00 $18.01 $3,993.36
6 $3,993.36 $789.69 $0.00 $22.58 $4,805.63
7 $4,805.63 $789.69 $0.00 $27.17 $5,622.49
8 $5,622.49 $789.69 $0.00 $31.79 $6,443.97
9 $6,443.97 $789.69 $0.00 $36.44 $7,270.10
10 $7,270.10 $789.69 $0.00 $41.11 $8,100.90
11 $8,100.90 $789.69 $0.00 $45.80 $8,936.39
12 $8,936.39 $789.69 $0.00 $50.53 $9,776.61
13 $9,776.61 $789.69 $0.00 $55.28 $10,621.58
14 $10,621.58 $789.69 $0.00 $60.06 $11,471.33
15 $11,471.33 $789.69 $0.00 $64.86 $12,325.88
16 $12,325.88 $789.69 $0.00 $69.69 $13,185.26
17 $13,185.26 $789.69 $0.00 $74.55 $14,049.50
18 $14,049.50 $789.69 $0.00 $79.44 $14,918.63
19 $14,918.63 $789.69 $0.00 $84.35 $15,792.67
20 $15,792.67 $789.69 $0.00 $89.29 $16,671.65
21 $16,671.65 $789.69 $0.00 $94.26 $17,555.60
22 $17,555.60 $789.69 $0.00 $99.26 $18,444.55
23 $18,444.55 $789.69 $0.00 $104.29 $19,338.53
24 $19,338.53 $789.69 $0.00 $109.34 $20,237.56
25 $20,237.56 $789.69 $0.00 $114.43 $21,141.68
26 $21,141.68 $789.69 $0.00 $119.54 $22,050.91
27 $22,050.91 $789.69 $0.00 $124.68 $22,965.28
28 $22,965.28 $789.69 $0.00 $129.85 $23,884.82
29 $23,884.82 $789.69 $0.00 $135.05 $24,809.56
30 $24,809.56 $789.69 $0.00 $140.28 $25,739.53
31 $25,739.53 $789.69 $0.00 $145.54 $26,674.76
32 $26,674.76 $789.69 $0.00 $150.82 $27,615.27
33 $27,615.27 $789.69 $0.00 $156.14 $28,561.10
34 $28,561.10 $789.69 $0.00 $161.49 $29,512.28
35 $29,512.28 $789.69 $0.00 $166.87 $30,468.84
36 $30,468.84 $789.69 $0.00 $172.28 $31,430.81
37 $31,430.81 $789.69 $0.00 $177.71 $32,398.21
38 $32,398.21 $789.69 $0.00 $183.18 $33,371.08
39 $33,371.08 $789.69 $0.00 $188.68 $34,349.45
40 $34,349.45 $789.69 $0.00 $194.22 $35,333.36
41 $35,333.36 $789.69 $0.00 $199.78 $36,322.83
42 $36,322.83 $789.69 $0.00 $205.37 $37,317.89
43 $37,317.89 $789.69 $0.00 $211.00 $38,318.58
44 $38,318.58 $789.69 $0.00 $216.66 $39,324.93
45 $39,324.93 $789.69 $0.00 $222.35 $40,336.97
46 $40,336.97 $789.69 $0.00 $228.07 $41,354.73
47 $41,354.73 $789.69 $0.00 $233.83 $42,378.25
48 $42,378.25 $789.69 $0.00 $239.61 $43,407.55
49 $43,407.55 $789.69 $0.00 $245.43 $44,442.67
50 $44,442.67 $789.69 $0.00 $251.29 $45,483.65
51 $45,483.65 $789.69 $0.00 $257.17 $46,530.51
52 $46,530.51 $789.69 $0.00 $263.09 $47,583.29
53 $47,583.29 $789.69 $0.00 $269.04 $48,642.02
54 $48,642.02 $789.69 $0.00 $275.03 $49,706.74
55 $49,706.74 $789.69 $0.00 $281.05 $50,777.48
56 $50,777.48 $789.69 $0.00 $287.10 $51,854.27
57 $51,854.27 $789.69 $0.00 $293.19 $52,937.15
58 $52,937.15 $789.69 $0.00 $299.31 $54,026.15
59 $54,026.15 $789.69 $0.00 $305.47 $55,121.31
60 $55,121.31 $789.69 $0.00 $311.66 $56,222.66
61 $56,222.66 $789.69 $0.00 $317.89 $57,330.24
62 $57,330.24 $789.69 $0.00 $324.15 $58,444.08
63 $58,444.08 $789.69 $0.00 $330.45 $59,564.22
64 $59,564.22 $789.69 $0.00 $336.78 $60,690.69
65 $60,690.69 $789.69 $0.00 $343.15 $61,823.53
66 $61,823.53 $789.69 $0.00 $349.56 $62,962.78
67 $62,962.78 $789.69 $0.00 $356.00 $64,108.47
68 $64,108.47 $789.69 $0.00 $362.48 $65,260.64
69 $65,260.64 $789.69 $0.00 $368.99 $66,419.32
70 $66,419.32 $789.69 $0.00 $375.54 $67,584.55
71 $67,584.55 $789.69 $0.00 $382.13 $68,756.37
72 $68,756.37 $789.69 $0.00 $388.76 $69,934.82
73 $69,934.82 $789.69 $0.00 $395.42 $71,119.93
74 $71,119.93 $789.69 $0.00 $402.12 $72,311.74
75 $72,311.74 $789.69 $0.00 $408.86 $73,510.29
76 $73,510.29 $789.69 $0.00 $415.64 $74,715.62
77 $74,715.62 $789.69 $0.00 $422.45 $75,927.76
78 $75,927.76 $789.69 $0.00 $429.31 $77,146.76
79 $77,146.76 $789.69 $0.00 $436.20 $78,372.65
80 $78,372.65 $789.69 $0.00 $443.13 $79,605.47
81 $79,605.47 $789.69 $0.00 $450.10 $80,845.26
82 $80,845.26 $789.69 $0.00 $457.11 $82,092.06
83 $82,092.06 $789.69 $0.00 $464.16 $83,345.91
84 $83,345.91 $789.69 $0.00 $471.25 $84,606.85
85 $84,606.85 $789.69 $0.00 $478.38 $85,874.92
86 $85,874.92 $789.69 $0.00 $485.55 $87,150.16
87 $87,150.16 $789.69 $0.00 $492.76 $88,432.61
88 $88,432.61 $789.69 $0.00 $500.01 $89,722.31
89 $89,722.31 $789.69 $0.00 $507.30 $91,019.30
90 $91,019.30 $789.69 $0.00 $514.64 $92,323.63
91 $92,323.63 $789.69 $0.00 $522.01 $93,635.33
92 $93,635.33 $789.69 $0.00 $529.43 $94,954.45
93 $94,954.45 $789.69 $0.00 $536.89 $96,281.03
94 $96,281.03 $789.69 $0.00 $544.39 $97,615.11
95 $97,615.11 $789.69 $0.00 $551.93 $98,956.73
96 $98,956.73 $789.69 $0.00 $559.52 $100,305.94
97 $100,305.94 $789.69 $0.00 $567.14 $101,662.77
98 $101,662.77 $789.69 $0.00 $574.82 $103,027.28
99 $103,027.28 $789.69 $0.00 $582.53 $104,399.50
100 $104,399.50 $789.69 $0.00 $590.29 $105,779.48
101 $105,779.48 $789.69 $0.00 $598.09 $107,167.26
102 $107,167.26 $789.69 $0.00 $605.94 $108,562.89
103 $108,562.89 $789.69 $0.00 $613.83 $109,966.41
104 $109,966.41 $789.69 $0.00 $621.77 $111,377.87
105 $111,377.87 $789.69 $0.00 $629.75 $112,797.31
106 $112,797.31 $789.69 $0.00 $637.77 $114,224.77
107 $114,224.77 $789.69 $0.00 $645.84 $115,660.30
108 $115,660.30 $789.69 $0.00 $653.96 $117,103.95
109 $117,103.95 $789.69 $0.00 $662.12 $118,555.76
110 $118,555.76 $789.69 $0.00 $670.33 $120,015.78
111 $120,015.78 $789.69 $0.00 $678.59 $121,484.06
112 $121,484.06 $789.69 $0.00 $686.89 $122,960.64
113 $122,960.64 $789.69 $0.00 $695.24 $124,445.57
114 $124,445.57 $789.69 $0.00 $703.63 $125,938.89
115 $125,938.89 $789.69 $0.00 $712.08 $127,440.66
116 $127,440.66 $789.69 $0.00 $720.57 $128,950.92
117 $128,950.92 $789.69 $0.00 $729.11 $130,469.72
118 $130,469.72 $789.69 $0.00 $737.69 $131,997.10
119 $131,997.10 $789.69 $0.00 $746.33 $133,533.12
120 $133,533.12 $789.69 $0.00 $755.02 $135,077.83
121 $135,077.83 $789.69 $0.00 $763.75 $136,631.27
122 $136,631.27 $789.69 $0.00 $772.53 $138,193.49
123 $138,193.49 $789.69 $0.00 $781.37 $139,764.55
124 $139,764.55 $789.69 $0.00 $790.25 $141,344.49
125 $141,344.49 $789.69 $0.00 $799.18 $142,933.36
126 $142,933.36 $789.69 $0.00 $808.17 $144,531.22
127 $144,531.22 $789.69 $0.00 $817.20 $146,138.11
128 $146,138.11 $789.69 $0.00 $826.29 $147,754.09
129 $147,754.09 $789.69 $0.00 $835.42 $149,379.20
130 $149,379.20 $789.69 $0.00 $844.61 $151,013.50
131 $151,013.50 $789.69 $0.00 $853.85 $152,657.04
132 $152,657.04 $789.69 $0.00 $863.15 $154,309.88
133 $154,309.88 $789.69 $0.00 $872.49 $155,972.06
134 $155,972.06 $789.69 $0.00 $881.89 $157,643.64
135 $157,643.64 $789.69 $0.00 $891.34 $159,324.67
136 $159,324.67 $789.69 $0.00 $900.84 $161,015.20
137 $161,015.20 $789.69 $0.00 $910.40 $162,715.29
138 $162,715.29 $789.69 $0.00 $920.02 $164,425.00
139 $164,425.00 $789.69 $0.00 $929.68 $166,144.37
140 $166,144.37 $789.69 $0.00 $939.40 $167,873.46
141 $167,873.46 $789.69 $0.00 $949.18 $169,612.33
142 $169,612.33 $789.69 $0.00 $959.01 $171,361.03
143 $171,361.03 $789.69 $0.00 $968.90 $173,119.62
144 $173,119.62 $789.69 $0.00 $978.84 $174,888.15
145 $174,888.15 $789.69 $0.00 $988.84 $176,666.68
146 $176,666.68 $789.69 $0.00 $998.90 $178,455.27
147 $178,455.27 $789.69 $0.00 $1,009.01 $180,253.97
148 $180,253.97 $789.69 $0.00 $1,019.18 $182,062.84
149 $182,062.84 $789.69 $0.00 $1,029.41 $183,881.94
150 $183,881.94 $789.69 $0.00 $1,039.70 $185,711.33
151 $185,711.33 $789.69 $0.00 $1,050.04 $187,551.06
152 $187,551.06 $789.69 $0.00 $1,060.44 $189,401.19
153 $189,401.19 $789.69 $0.00 $1,070.90 $191,261.78
154 $191,261.78 $789.69 $0.00 $1,081.42 $193,132.89
155 $193,132.89 $789.69 $0.00 $1,092.00 $195,014.58
156 $195,014.58 $789.69 $0.00 $1,102.64 $196,906.91
157 $196,906.91 $789.69 $0.00 $1,113.34 $198,809.94
158 $198,809.94 $789.69 $0.00 $1,124.10 $200,723.73
159 $200,723.73 $789.69 $0.00 $1,134.92 $202,648.34
160 $202,648.34 $789.69 $0.00 $1,145.80 $204,583.83
161 $204,583.83 $789.69 $0.00 $1,156.75 $206,530.27
162 $206,530.27 $789.69 $0.00 $1,167.75 $208,487.71
163 $208,487.71 $789.69 $0.00 $1,178.82 $210,456.22
164 $210,456.22 $789.69 $0.00 $1,189.95 $212,435.86
165 $212,435.86 $789.69 $0.00 $1,201.14 $214,426.69
166 $214,426.69 $789.69 $0.00 $1,212.40 $216,428.78
167 $216,428.78 $789.69 $0.00 $1,223.72 $218,442.19
168 $218,442.19 $789.69 $0.00 $1,235.10 $220,466.98
169 $220,466.98 $789.69 $0.00 $1,246.55 $222,503.22
170 $222,503.22 $789.69 $0.00 $1,258.07 $224,550.98
171 $224,550.98 $789.69 $0.00 $1,269.64 $226,610.31
172 $226,610.31 $789.69 $0.00 $1,281.29 $228,681.29
173 $228,681.29 $789.69 $0.00 $1,293.00 $230,763.98
174 $230,763.98 $789.69 $0.00 $1,304.77 $232,858.44
175 $232,858.44 $789.69 $0.00 $1,316.62 $234,964.75
176 $234,964.75 $789.69 $0.00 $1,328.52 $237,082.96
177 $237,082.96 $789.69 $0.00 $1,340.50 $239,213.15
178 $239,213.15 $789.69 $0.00 $1,352.55 $241,355.39
179 $241,355.39 $789.69 $0.00 $1,364.66 $243,509.74
180 $243,509.74 $789.69 $0.00 $1,376.84 $245,676.27
181 $245,676.27 $789.69 $0.00 $1,389.09 $247,855.05
182 $247,855.05 $789.69 $0.00 $1,401.41 $250,046.15
183 $250,046.15 $789.69 $0.00 $1,413.80 $252,249.64
184 $252,249.64 $789.69 $0.00 $1,426.26 $254,465.59
185 $254,465.59 $789.69 $0.00 $1,438.79 $256,694.07
186 $256,694.07 $789.69 $0.00 $1,451.39 $258,935.15
187 $258,935.15 $789.69 $0.00 $1,464.06 $261,188.90
188 $261,188.90 $789.69 $0.00 $1,476.80 $263,455.39
189 $263,455.39 $789.69 $0.00 $1,489.62 $265,734.70
190 $265,734.70 $789.69 $0.00 $1,502.50 $268,026.89
191 $268,026.89 $789.69 $0.00 $1,515.46 $270,332.04
192 $270,332.04 $789.69 $0.00 $1,528.50 $272,650.23
193 $272,650.23 $789.69 $0.00 $1,541.60 $274,981.52
194 $274,981.52 $789.69 $0.00 $1,554.79 $277,326.00
195 $277,326.00 $789.69 $0.00 $1,568.04 $279,683.73
196 $279,683.73 $789.69 $0.00 $1,581.37 $282,054.79
197 $282,054.79 $789.69 $0.00 $1,594.78 $284,439.26
198 $284,439.26 $789.69 $0.00 $1,608.26 $286,837.21
199 $286,837.21 $789.69 $0.00 $1,621.82 $289,248.72
200 $289,248.72 $789.69 $0.00 $1,635.45 $291,673.86
201 $291,673.86 $789.69 $0.00 $1,649.17 $294,112.72
202 $294,112.72 $789.69 $0.00 $1,662.96 $296,565.37
203 $296,565.37 $789.69 $0.00 $1,676.82 $299,031.88
204 $299,031.88 $789.69 $0.00 $1,690.77 $301,512.34
205 $301,512.34 $789.69 $0.00 $1,704.79 $304,006.82
206 $304,006.82 $789.69 $0.00 $1,718.90 $306,515.41
207 $306,515.41 $789.69 $0.00 $1,733.08 $309,038.18
208 $309,038.18 $789.69 $0.00 $1,747.35 $311,575.22
209 $311,575.22 $789.69 $0.00 $1,761.69 $314,126.60
210 $314,126.60 $789.69 $0.00 $1,776.12 $316,692.41
211 $316,692.41 $789.69 $0.00 $1,790.62 $319,272.72
212 $319,272.72 $789.69 $0.00 $1,805.21 $321,867.62
213 $321,867.62 $789.69 $0.00 $1,819.89 $324,477.20
214 $324,477.20 $789.69 $0.00 $1,834.64 $327,101.53
215 $327,101.53 $789.69 $0.00 $1,849.48 $329,740.70
216 $329,740.70 $789.69 $0.00 $1,864.40 $332,394.79
217 $332,394.79 $789.69 $92,582.64 $1,879.41 $242,481.25
218 $242,481.25 $789.69 $0.00 $1,371.02 $244,641.96
219 $244,641.96 $789.69 $0.00 $1,383.24 $246,814.89
220 $246,814.89 $789.69 $0.00 $1,395.53 $249,000.11
221 $249,000.11 $789.69 $0.00 $1,407.88 $251,197.68
222 $251,197.68 $789.69 $0.00 $1,420.31 $253,407.68
223 $253,407.68 $789.69 $0.00 $1,432.80 $255,630.17
224 $255,630.17 $789.69 $0.00 $1,445.37 $257,865.23
225 $257,865.23 $789.69 $0.00 $1,458.01 $260,112.93
226 $260,112.93 $789.69 $0.00 $1,470.72 $262,373.34
227 $262,373.34 $789.69 $0.00 $1,483.50 $264,646.53
228 $264,646.53 $789.69 $0.00 $1,496.35 $266,932.57
229 $266,932.57 $789.69 $97,211.77 $1,509.28 $172,019.77
230 $172,019.77 $789.69 $0.00 $972.62 $173,782.08
231 $173,782.08 $789.69 $0.00 $982.59 $175,554.36
232 $175,554.36 $789.69 $0.00 $992.61 $177,336.66
233 $177,336.66 $789.69 $0.00 $1,002.69 $179,129.04
234 $179,129.04 $789.69 $0.00 $1,012.82 $180,931.55
235 $180,931.55 $789.69 $0.00 $1,023.01 $182,744.25
236 $182,744.25 $789.69 $0.00 $1,033.26 $184,567.20
237 $184,567.20 $789.69 $0.00 $1,043.57 $186,400.46
238 $186,400.46 $789.69 $0.00 $1,053.94 $188,244.09
239 $188,244.09 $789.69 $0.00 $1,064.36 $190,098.14
240 $190,098.14 $789.69 $0.00 $1,074.84 $191,962.67
241 $191,962.67 $789.69 $102,072.36 $1,085.38 $91,765.38
242 $91,765.38 $789.69 $0.00 $518.85 $93,073.92
243 $93,073.92 $789.69 $0.00 $526.25 $94,389.86
244 $94,389.86 $789.69 $0.00 $533.69 $95,713.24
245 $95,713.24 $789.69 $0.00 $541.18 $97,044.11
246 $97,044.11 $789.69 $0.00 $548.70 $98,382.50
247 $98,382.50 $789.69 $0.00 $556.27 $99,728.46
248 $99,728.46 $789.69 $0.00 $563.88 $101,082.03
249 $101,082.03 $789.69 $0.00 $571.53 $102,443.25
250 $102,443.25 $789.69 $0.00 $579.23 $103,812.17
251 $103,812.17 $789.69 $0.00 $586.97 $105,188.83
252 $105,188.83 $789.69 $0.00 $594.75 $106,573.27
253 $106,573.27 $0.00 $107,175.98 $602.58 ($0.13)