Savings Plan and Future Cost Estimation for Maryland Institute College of Art

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2041$181,161
Monthly savings required$1,434

How much will it cost to send your child to Maryland Institute College of Art in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $724,645.88 for students enrolling in 2041 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,434.04 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$69,860.00
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 $1,434.04 $0.00 $0.00 $1,434.04
2 $1,434.04 $1,434.04 $0.00 $8.11 $2,876.19
3 $2,876.19 $1,434.04 $0.00 $16.26 $4,326.49
4 $4,326.49 $1,434.04 $0.00 $24.46 $5,784.99
5 $5,784.99 $1,434.04 $0.00 $32.71 $7,251.74
6 $7,251.74 $1,434.04 $0.00 $41.00 $8,726.78
7 $8,726.78 $1,434.04 $0.00 $49.34 $10,210.16
8 $10,210.16 $1,434.04 $0.00 $57.73 $11,701.93
9 $11,701.93 $1,434.04 $0.00 $66.16 $13,202.13
10 $13,202.13 $1,434.04 $0.00 $74.65 $14,710.82
11 $14,710.82 $1,434.04 $0.00 $83.18 $16,228.04
12 $16,228.04 $1,434.04 $0.00 $91.76 $17,753.84
13 $17,753.84 $1,434.04 $0.00 $100.38 $19,288.26
14 $19,288.26 $1,434.04 $0.00 $109.06 $20,831.36
15 $20,831.36 $1,434.04 $0.00 $117.78 $22,383.18
16 $22,383.18 $1,434.04 $0.00 $126.56 $23,943.78
17 $23,943.78 $1,434.04 $0.00 $135.38 $25,513.20
18 $25,513.20 $1,434.04 $0.00 $144.26 $27,091.50
19 $27,091.50 $1,434.04 $0.00 $153.18 $28,678.72
20 $28,678.72 $1,434.04 $0.00 $162.15 $30,274.91
21 $30,274.91 $1,434.04 $0.00 $171.18 $31,880.13
22 $31,880.13 $1,434.04 $0.00 $180.25 $33,494.42
23 $33,494.42 $1,434.04 $0.00 $189.38 $35,117.84
24 $35,117.84 $1,434.04 $0.00 $198.56 $36,750.44
25 $36,750.44 $1,434.04 $0.00 $207.79 $38,392.27
26 $38,392.27 $1,434.04 $0.00 $217.08 $40,043.39
27 $40,043.39 $1,434.04 $0.00 $226.41 $41,703.84
28 $41,703.84 $1,434.04 $0.00 $235.80 $43,373.68
29 $43,373.68 $1,434.04 $0.00 $245.24 $45,052.96
30 $45,052.96 $1,434.04 $0.00 $254.74 $46,741.74
31 $46,741.74 $1,434.04 $0.00 $264.28 $48,440.06
32 $48,440.06 $1,434.04 $0.00 $273.89 $50,147.99
33 $50,147.99 $1,434.04 $0.00 $283.54 $51,865.57
34 $51,865.57 $1,434.04 $0.00 $293.26 $53,592.87
35 $53,592.87 $1,434.04 $0.00 $303.02 $55,329.93
36 $55,329.93 $1,434.04 $0.00 $312.84 $57,076.81
37 $57,076.81 $1,434.04 $0.00 $322.72 $58,833.57
38 $58,833.57 $1,434.04 $0.00 $332.65 $60,600.26
39 $60,600.26 $1,434.04 $0.00 $342.64 $62,376.94
40 $62,376.94 $1,434.04 $0.00 $352.69 $64,163.67
41 $64,163.67 $1,434.04 $0.00 $362.79 $65,960.50
42 $65,960.50 $1,434.04 $0.00 $372.95 $67,767.49
43 $67,767.49 $1,434.04 $0.00 $383.17 $69,584.70
44 $69,584.70 $1,434.04 $0.00 $393.44 $71,412.18
45 $71,412.18 $1,434.04 $0.00 $403.77 $73,249.99
46 $73,249.99 $1,434.04 $0.00 $414.17 $75,098.20
47 $75,098.20 $1,434.04 $0.00 $424.62 $76,956.86
48 $76,956.86 $1,434.04 $0.00 $435.13 $78,826.03
49 $78,826.03 $1,434.04 $0.00 $445.69 $80,705.76
50 $80,705.76 $1,434.04 $0.00 $456.32 $82,596.12
51 $82,596.12 $1,434.04 $0.00 $467.01 $84,497.17
52 $84,497.17 $1,434.04 $0.00 $477.76 $86,408.97
53 $86,408.97 $1,434.04 $0.00 $488.57 $88,331.58
54 $88,331.58 $1,434.04 $0.00 $499.44 $90,265.06
55 $90,265.06 $1,434.04 $0.00 $510.37 $92,209.47
56 $92,209.47 $1,434.04 $0.00 $521.37 $94,164.88
57 $94,164.88 $1,434.04 $0.00 $532.42 $96,131.34
58 $96,131.34 $1,434.04 $0.00 $543.54 $98,108.92
59 $98,108.92 $1,434.04 $0.00 $554.72 $100,097.68
60 $100,097.68 $1,434.04 $0.00 $565.97 $102,097.69
61 $102,097.69 $1,434.04 $0.00 $577.28 $104,109.01
62 $104,109.01 $1,434.04 $0.00 $588.65 $106,131.70
63 $106,131.70 $1,434.04 $0.00 $600.08 $108,165.82
64 $108,165.82 $1,434.04 $0.00 $611.59 $110,211.45
65 $110,211.45 $1,434.04 $0.00 $623.15 $112,268.64
66 $112,268.64 $1,434.04 $0.00 $634.78 $114,337.46
67 $114,337.46 $1,434.04 $0.00 $646.48 $116,417.98
68 $116,417.98 $1,434.04 $0.00 $658.24 $118,510.26
69 $118,510.26 $1,434.04 $0.00 $670.07 $120,614.37
70 $120,614.37 $1,434.04 $0.00 $681.97 $122,730.38
71 $122,730.38 $1,434.04 $0.00 $693.94 $124,858.36
72 $124,858.36 $1,434.04 $0.00 $705.97 $126,998.37
73 $126,998.37 $1,434.04 $0.00 $718.07 $129,150.48
74 $129,150.48 $1,434.04 $0.00 $730.24 $131,314.76
75 $131,314.76 $1,434.04 $0.00 $742.47 $133,491.27
76 $133,491.27 $1,434.04 $0.00 $754.78 $135,680.09
77 $135,680.09 $1,434.04 $0.00 $767.15 $137,881.28
78 $137,881.28 $1,434.04 $0.00 $779.60 $140,094.92
79 $140,094.92 $1,434.04 $0.00 $792.12 $142,321.08
80 $142,321.08 $1,434.04 $0.00 $804.70 $144,559.82
81 $144,559.82 $1,434.04 $0.00 $817.36 $146,811.22
82 $146,811.22 $1,434.04 $0.00 $830.09 $149,075.35
83 $149,075.35 $1,434.04 $0.00 $842.89 $151,352.28
84 $151,352.28 $1,434.04 $0.00 $855.77 $153,642.09
85 $153,642.09 $1,434.04 $0.00 $868.71 $155,944.84
86 $155,944.84 $1,434.04 $0.00 $881.73 $158,260.61
87 $158,260.61 $1,434.04 $0.00 $894.83 $160,589.48
88 $160,589.48 $1,434.04 $0.00 $908.00 $162,931.52
89 $162,931.52 $1,434.04 $0.00 $921.24 $165,286.80
90 $165,286.80 $1,434.04 $0.00 $934.56 $167,655.40
91 $167,655.40 $1,434.04 $0.00 $947.95 $170,037.39
92 $170,037.39 $1,434.04 $0.00 $961.42 $172,432.85
93 $172,432.85 $1,434.04 $0.00 $974.96 $174,841.85
94 $174,841.85 $1,434.04 $0.00 $988.58 $177,264.47
95 $177,264.47 $1,434.04 $0.00 $1,002.28 $179,700.79
96 $179,700.79 $1,434.04 $0.00 $1,016.05 $182,150.88
97 $182,150.88 $1,434.04 $0.00 $1,029.91 $184,614.83
98 $184,614.83 $1,434.04 $0.00 $1,043.84 $187,092.71
99 $187,092.71 $1,434.04 $0.00 $1,057.85 $189,584.60
100 $189,584.60 $1,434.04 $0.00 $1,071.94 $192,090.58
101 $192,090.58 $1,434.04 $0.00 $1,086.11 $194,610.73
102 $194,610.73 $1,434.04 $0.00 $1,100.36 $197,145.13
103 $197,145.13 $1,434.04 $0.00 $1,114.69 $199,693.86
104 $199,693.86 $1,434.04 $0.00 $1,129.10 $202,257.00
105 $202,257.00 $1,434.04 $0.00 $1,143.59 $204,834.63
106 $204,834.63 $1,434.04 $0.00 $1,158.16 $207,426.83
107 $207,426.83 $1,434.04 $0.00 $1,172.82 $210,033.69
108 $210,033.69 $1,434.04 $0.00 $1,187.56 $212,655.29
109 $212,655.29 $1,434.04 $0.00 $1,202.38 $215,291.71
110 $215,291.71 $1,434.04 $0.00 $1,217.29 $217,943.04
111 $217,943.04 $1,434.04 $0.00 $1,232.28 $220,609.36
112 $220,609.36 $1,434.04 $0.00 $1,247.36 $223,290.76
113 $223,290.76 $1,434.04 $0.00 $1,262.52 $225,987.32
114 $225,987.32 $1,434.04 $0.00 $1,277.77 $228,699.13
115 $228,699.13 $1,434.04 $0.00 $1,293.10 $231,426.27
116 $231,426.27 $1,434.04 $0.00 $1,308.52 $234,168.83
117 $234,168.83 $1,434.04 $0.00 $1,324.02 $236,926.89
118 $236,926.89 $1,434.04 $0.00 $1,339.62 $239,700.55
119 $239,700.55 $1,434.04 $0.00 $1,355.30 $242,489.89
120 $242,489.89 $1,434.04 $0.00 $1,371.07 $245,295.00
121 $245,295.00 $1,434.04 $0.00 $1,386.93 $248,115.97
122 $248,115.97 $1,434.04 $0.00 $1,402.88 $250,952.89
123 $250,952.89 $1,434.04 $0.00 $1,418.92 $253,805.85
124 $253,805.85 $1,434.04 $0.00 $1,435.06 $256,674.95
125 $256,674.95 $1,434.04 $0.00 $1,451.28 $259,560.27
126 $259,560.27 $1,434.04 $0.00 $1,467.59 $262,461.90
127 $262,461.90 $1,434.04 $0.00 $1,484.00 $265,379.94
128 $265,379.94 $1,434.04 $0.00 $1,500.50 $268,314.48
129 $268,314.48 $1,434.04 $0.00 $1,517.09 $271,265.61
130 $271,265.61 $1,434.04 $0.00 $1,533.78 $274,233.43
131 $274,233.43 $1,434.04 $0.00 $1,550.56 $277,218.03
132 $277,218.03 $1,434.04 $0.00 $1,567.43 $280,219.50
133 $280,219.50 $1,434.04 $0.00 $1,584.40 $283,237.94
134 $283,237.94 $1,434.04 $0.00 $1,601.47 $286,273.45
135 $286,273.45 $1,434.04 $0.00 $1,618.63 $289,326.12
136 $289,326.12 $1,434.04 $0.00 $1,635.89 $292,396.05
137 $292,396.05 $1,434.04 $0.00 $1,653.25 $295,483.34
138 $295,483.34 $1,434.04 $0.00 $1,670.71 $298,588.09
139 $298,588.09 $1,434.04 $0.00 $1,688.26 $301,710.39
140 $301,710.39 $1,434.04 $0.00 $1,705.91 $304,850.34
141 $304,850.34 $1,434.04 $0.00 $1,723.67 $308,008.05
142 $308,008.05 $1,434.04 $0.00 $1,741.52 $311,183.61
143 $311,183.61 $1,434.04 $0.00 $1,759.48 $314,377.13
144 $314,377.13 $1,434.04 $0.00 $1,777.53 $317,588.70
145 $317,588.70 $1,434.04 $0.00 $1,795.69 $320,818.43
146 $320,818.43 $1,434.04 $0.00 $1,813.95 $324,066.42
147 $324,066.42 $1,434.04 $0.00 $1,832.32 $327,332.78
148 $327,332.78 $1,434.04 $0.00 $1,850.79 $330,617.61
149 $330,617.61 $1,434.04 $0.00 $1,869.36 $333,921.01
150 $333,921.01 $1,434.04 $0.00 $1,888.04 $337,243.09
151 $337,243.09 $1,434.04 $0.00 $1,906.82 $340,583.95
152 $340,583.95 $1,434.04 $0.00 $1,925.71 $343,943.70
153 $343,943.70 $1,434.04 $0.00 $1,944.71 $347,322.45
154 $347,322.45 $1,434.04 $0.00 $1,963.81 $350,720.30
155 $350,720.30 $1,434.04 $0.00 $1,983.02 $354,137.36
156 $354,137.36 $1,434.04 $0.00 $2,002.34 $357,573.74
157 $357,573.74 $1,434.04 $0.00 $2,021.77 $361,029.55
158 $361,029.55 $1,434.04 $0.00 $2,041.31 $364,504.90
159 $364,504.90 $1,434.04 $0.00 $2,060.96 $367,999.90
160 $367,999.90 $1,434.04 $0.00 $2,080.72 $371,514.66
161 $371,514.66 $1,434.04 $0.00 $2,100.60 $375,049.30
162 $375,049.30 $1,434.04 $0.00 $2,120.58 $378,603.92
163 $378,603.92 $1,434.04 $0.00 $2,140.68 $382,178.64
164 $382,178.64 $1,434.04 $0.00 $2,160.89 $385,773.57
165 $385,773.57 $1,434.04 $0.00 $2,181.22 $389,388.83
166 $389,388.83 $1,434.04 $0.00 $2,201.66 $393,024.53
167 $393,024.53 $1,434.04 $0.00 $2,222.22 $396,680.79
168 $396,680.79 $1,434.04 $0.00 $2,242.89 $400,357.72
169 $400,357.72 $1,434.04 $0.00 $2,263.68 $404,055.44
170 $404,055.44 $1,434.04 $0.00 $2,284.59 $407,774.07
171 $407,774.07 $1,434.04 $0.00 $2,305.61 $411,513.72
172 $411,513.72 $1,434.04 $0.00 $2,326.76 $415,274.52
173 $415,274.52 $1,434.04 $0.00 $2,348.02 $419,056.58
174 $419,056.58 $1,434.04 $0.00 $2,369.41 $422,860.03
175 $422,860.03 $1,434.04 $0.00 $2,390.91 $426,684.98
176 $426,684.98 $1,434.04 $0.00 $2,412.54 $430,531.56
177 $430,531.56 $1,434.04 $0.00 $2,434.29 $434,399.89
178 $434,399.89 $1,434.04 $0.00 $2,456.16 $438,290.09
179 $438,290.09 $1,434.04 $0.00 $2,478.16 $442,202.29
180 $442,202.29 $1,434.04 $0.00 $2,500.28 $446,136.61
181 $446,136.61 $1,434.04 $0.00 $2,522.52 $450,093.17
182 $450,093.17 $1,434.04 $0.00 $2,544.89 $454,072.10
183 $454,072.10 $1,434.04 $0.00 $2,567.39 $458,073.53
184 $458,073.53 $1,434.04 $0.00 $2,590.01 $462,097.58
185 $462,097.58 $1,434.04 $0.00 $2,612.77 $466,144.39
186 $466,144.39 $1,434.04 $0.00 $2,635.65 $470,214.08
187 $470,214.08 $1,434.04 $0.00 $2,658.66 $474,306.78
188 $474,306.78 $1,434.04 $0.00 $2,681.80 $478,422.62
189 $478,422.62 $1,434.04 $0.00 $2,705.07 $482,561.73
190 $482,561.73 $1,434.04 $0.00 $2,728.47 $486,724.24
191 $486,724.24 $1,434.04 $0.00 $2,752.01 $490,910.29
192 $490,910.29 $1,434.04 $0.00 $2,775.68 $495,120.01
193 $495,120.01 $1,434.04 $0.00 $2,799.48 $499,353.53
194 $499,353.53 $1,434.04 $0.00 $2,823.42 $503,610.99
195 $503,610.99 $1,434.04 $0.00 $2,847.49 $507,892.52
196 $507,892.52 $1,434.04 $0.00 $2,871.70 $512,198.26
197 $512,198.26 $1,434.04 $0.00 $2,896.04 $516,528.34
198 $516,528.34 $1,434.04 $0.00 $2,920.53 $520,882.91
199 $520,882.91 $1,434.04 $0.00 $2,945.15 $525,262.10
200 $525,262.10 $1,434.04 $0.00 $2,969.91 $529,666.05
201 $529,666.05 $1,434.04 $0.00 $2,994.81 $534,094.90
202 $534,094.90 $1,434.04 $0.00 $3,019.85 $538,548.79
203 $538,548.79 $1,434.04 $0.00 $3,045.03 $543,027.86
204 $543,027.86 $1,434.04 $0.00 $3,070.36 $547,532.26
205 $547,532.26 $1,434.04 $0.00 $3,095.83 $552,062.13
206 $552,062.13 $1,434.04 $0.00 $3,121.44 $556,617.61
207 $556,617.61 $1,434.04 $0.00 $3,147.20 $561,198.85
208 $561,198.85 $1,434.04 $0.00 $3,173.10 $565,805.99
209 $565,805.99 $1,434.04 $0.00 $3,199.15 $570,439.18
210 $570,439.18 $1,434.04 $0.00 $3,225.35 $575,098.57
211 $575,098.57 $1,434.04 $0.00 $3,251.69 $579,784.30
212 $579,784.30 $1,434.04 $0.00 $3,278.18 $584,496.52
213 $584,496.52 $1,434.04 $0.00 $3,304.83 $589,235.39
214 $589,235.39 $1,434.04 $0.00 $3,331.62 $594,001.05
215 $594,001.05 $1,434.04 $0.00 $3,358.57 $598,793.66
216 $598,793.66 $1,434.04 $0.00 $3,385.67 $603,613.37
217 $603,613.37 $1,434.04 $168,126.42 $3,412.92 $440,333.91
218 $440,333.91 $1,434.04 $0.00 $2,489.71 $444,257.66
219 $444,257.66 $1,434.04 $0.00 $2,511.90 $448,203.60
220 $448,203.60 $1,434.04 $0.00 $2,534.21 $452,171.85
221 $452,171.85 $1,434.04 $0.00 $2,556.65 $456,162.54
222 $456,162.54 $1,434.04 $0.00 $2,579.21 $460,175.79
223 $460,175.79 $1,434.04 $0.00 $2,601.90 $464,211.73
224 $464,211.73 $1,434.04 $0.00 $2,624.72 $468,270.49
225 $468,270.49 $1,434.04 $0.00 $2,647.67 $472,352.20
226 $472,352.20 $1,434.04 $0.00 $2,670.75 $476,456.99
227 $476,456.99 $1,434.04 $0.00 $2,693.96 $480,584.99
228 $480,584.99 $1,434.04 $0.00 $2,717.30 $484,736.33
229 $484,736.33 $1,434.04 $176,532.74 $2,740.77 $312,378.40
230 $312,378.40 $1,434.04 $0.00 $1,766.23 $315,578.67
231 $315,578.67 $1,434.04 $0.00 $1,784.33 $318,797.04
232 $318,797.04 $1,434.04 $0.00 $1,802.52 $322,033.60
233 $322,033.60 $1,434.04 $0.00 $1,820.82 $325,288.46
234 $325,288.46 $1,434.04 $0.00 $1,839.23 $328,561.73
235 $328,561.73 $1,434.04 $0.00 $1,857.74 $331,853.51
236 $331,853.51 $1,434.04 $0.00 $1,876.35 $335,163.90
237 $335,163.90 $1,434.04 $0.00 $1,895.07 $338,493.01
238 $338,493.01 $1,434.04 $0.00 $1,913.89 $341,840.94
239 $341,840.94 $1,434.04 $0.00 $1,932.82 $345,207.80
240 $345,207.80 $1,434.04 $0.00 $1,951.86 $348,593.70
241 $348,593.70 $1,434.04 $185,359.38 $1,971.00 $166,639.36
242 $166,639.36 $1,434.04 $0.00 $942.20 $169,015.60
243 $169,015.60 $1,434.04 $0.00 $955.64 $171,405.28
244 $171,405.28 $1,434.04 $0.00 $969.15 $173,808.47
245 $173,808.47 $1,434.04 $0.00 $982.74 $176,225.25
246 $176,225.25 $1,434.04 $0.00 $996.40 $178,655.69
247 $178,655.69 $1,434.04 $0.00 $1,010.15 $181,099.88
248 $181,099.88 $1,434.04 $0.00 $1,023.97 $183,557.89
249 $183,557.89 $1,434.04 $0.00 $1,037.86 $186,029.79
250 $186,029.79 $1,434.04 $0.00 $1,051.84 $188,515.67
251 $188,515.67 $1,434.04 $0.00 $1,065.90 $191,015.61
252 $191,015.61 $1,434.04 $0.00 $1,080.03 $193,529.68
253 $193,529.68 $0.00 $194,627.35 $1,094.24 ($3.43)