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 2042$271,077
Monthly savings required$2,142

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 $1,084,309.59 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $2,142.39 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$72,255.00
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 $2,142.39 $0.00 $0.00 $2,142.39
2 $2,142.39 $2,142.39 $0.00 $12.11 $4,296.89
3 $4,296.89 $2,142.39 $0.00 $24.30 $6,463.58
4 $6,463.58 $2,142.39 $0.00 $36.55 $8,642.52
5 $8,642.52 $2,142.39 $0.00 $48.87 $10,833.78
6 $10,833.78 $2,142.39 $0.00 $61.26 $13,037.43
7 $13,037.43 $2,142.39 $0.00 $73.72 $15,253.54
8 $15,253.54 $2,142.39 $0.00 $86.25 $17,482.18
9 $17,482.18 $2,142.39 $0.00 $98.85 $19,723.42
10 $19,723.42 $2,142.39 $0.00 $111.52 $21,977.33
11 $21,977.33 $2,142.39 $0.00 $124.26 $24,243.98
12 $24,243.98 $2,142.39 $0.00 $137.08 $26,523.45
13 $26,523.45 $2,142.39 $0.00 $149.97 $28,815.81
14 $28,815.81 $2,142.39 $0.00 $162.93 $31,121.13
15 $31,121.13 $2,142.39 $0.00 $175.96 $33,439.48
16 $33,439.48 $2,142.39 $0.00 $189.07 $35,770.94
17 $35,770.94 $2,142.39 $0.00 $202.25 $38,115.58
18 $38,115.58 $2,142.39 $0.00 $215.51 $40,473.48
19 $40,473.48 $2,142.39 $0.00 $228.84 $42,844.71
20 $42,844.71 $2,142.39 $0.00 $242.25 $45,229.35
21 $45,229.35 $2,142.39 $0.00 $255.73 $47,627.47
22 $47,627.47 $2,142.39 $0.00 $269.29 $50,039.15
23 $50,039.15 $2,142.39 $0.00 $282.93 $52,464.47
24 $52,464.47 $2,142.39 $0.00 $296.64 $54,903.50
25 $54,903.50 $2,142.39 $0.00 $310.43 $57,356.32
26 $57,356.32 $2,142.39 $0.00 $324.30 $59,823.01
27 $59,823.01 $2,142.39 $0.00 $338.25 $62,303.65
28 $62,303.65 $2,142.39 $0.00 $352.27 $64,798.31
29 $64,798.31 $2,142.39 $0.00 $366.38 $67,307.08
30 $67,307.08 $2,142.39 $0.00 $380.56 $69,830.03
31 $69,830.03 $2,142.39 $0.00 $394.83 $72,367.25
32 $72,367.25 $2,142.39 $0.00 $409.17 $74,918.81
33 $74,918.81 $2,142.39 $0.00 $423.60 $77,484.80
34 $77,484.80 $2,142.39 $0.00 $438.11 $80,065.30
35 $80,065.30 $2,142.39 $0.00 $452.70 $82,660.39
36 $82,660.39 $2,142.39 $0.00 $467.37 $85,270.15
37 $85,270.15 $2,142.39 $0.00 $482.13 $87,894.67
38 $87,894.67 $2,142.39 $0.00 $496.97 $90,534.03
39 $90,534.03 $2,142.39 $0.00 $511.89 $93,188.31
40 $93,188.31 $2,142.39 $0.00 $526.90 $95,857.60
41 $95,857.60 $2,142.39 $0.00 $541.99 $98,541.98
42 $98,541.98 $2,142.39 $0.00 $557.17 $101,241.54
43 $101,241.54 $2,142.39 $0.00 $572.43 $103,956.36
44 $103,956.36 $2,142.39 $0.00 $587.78 $106,686.53
45 $106,686.53 $2,142.39 $0.00 $603.22 $109,432.14
46 $109,432.14 $2,142.39 $0.00 $618.75 $112,193.28
47 $112,193.28 $2,142.39 $0.00 $634.36 $114,970.03
48 $114,970.03 $2,142.39 $0.00 $650.06 $117,762.48
49 $117,762.48 $2,142.39 $0.00 $665.85 $120,570.72
50 $120,570.72 $2,142.39 $0.00 $681.72 $123,394.83
51 $123,394.83 $2,142.39 $0.00 $697.69 $126,234.91
52 $126,234.91 $2,142.39 $0.00 $713.75 $129,091.05
53 $129,091.05 $2,142.39 $0.00 $729.90 $131,963.34
54 $131,963.34 $2,142.39 $0.00 $746.14 $134,851.87
55 $134,851.87 $2,142.39 $0.00 $762.47 $137,756.73
56 $137,756.73 $2,142.39 $0.00 $778.90 $140,678.02
57 $140,678.02 $2,142.39 $0.00 $795.41 $143,615.82
58 $143,615.82 $2,142.39 $0.00 $812.02 $146,570.23
59 $146,570.23 $2,142.39 $0.00 $828.73 $149,541.35
60 $149,541.35 $2,142.39 $0.00 $845.53 $152,529.27
61 $152,529.27 $2,142.39 $0.00 $862.42 $155,534.08
62 $155,534.08 $2,142.39 $0.00 $879.41 $158,555.88
63 $158,555.88 $2,142.39 $0.00 $896.50 $161,594.77
64 $161,594.77 $2,142.39 $0.00 $913.68 $164,650.84
65 $164,650.84 $2,142.39 $0.00 $930.96 $167,724.19
66 $167,724.19 $2,142.39 $0.00 $948.34 $170,814.92
67 $170,814.92 $2,142.39 $0.00 $965.81 $173,923.12
68 $173,923.12 $2,142.39 $0.00 $983.39 $177,048.90
69 $177,048.90 $2,142.39 $0.00 $1,001.06 $180,192.35
70 $180,192.35 $2,142.39 $0.00 $1,018.83 $183,353.57
71 $183,353.57 $2,142.39 $0.00 $1,036.71 $186,532.67
72 $186,532.67 $2,142.39 $0.00 $1,054.68 $189,729.74
73 $189,729.74 $2,142.39 $0.00 $1,072.76 $192,944.89
74 $192,944.89 $2,142.39 $0.00 $1,090.94 $196,178.22
75 $196,178.22 $2,142.39 $0.00 $1,109.22 $199,429.83
76 $199,429.83 $2,142.39 $0.00 $1,127.61 $202,699.83
77 $202,699.83 $2,142.39 $0.00 $1,146.09 $205,988.31
78 $205,988.31 $2,142.39 $0.00 $1,164.69 $209,295.39
79 $209,295.39 $2,142.39 $0.00 $1,183.39 $212,621.17
80 $212,621.17 $2,142.39 $0.00 $1,202.19 $215,965.75
81 $215,965.75 $2,142.39 $0.00 $1,221.10 $219,329.24
82 $219,329.24 $2,142.39 $0.00 $1,240.12 $222,711.75
83 $222,711.75 $2,142.39 $0.00 $1,259.24 $226,113.38
84 $226,113.38 $2,142.39 $0.00 $1,278.48 $229,534.25
85 $229,534.25 $2,142.39 $0.00 $1,297.82 $232,974.46
86 $232,974.46 $2,142.39 $0.00 $1,317.27 $236,434.12
87 $236,434.12 $2,142.39 $0.00 $1,336.83 $239,913.34
88 $239,913.34 $2,142.39 $0.00 $1,356.50 $243,412.23
89 $243,412.23 $2,142.39 $0.00 $1,376.29 $246,930.91
90 $246,930.91 $2,142.39 $0.00 $1,396.18 $250,469.48
91 $250,469.48 $2,142.39 $0.00 $1,416.19 $254,028.06
92 $254,028.06 $2,142.39 $0.00 $1,436.31 $257,606.76
93 $257,606.76 $2,142.39 $0.00 $1,456.55 $261,205.70
94 $261,205.70 $2,142.39 $0.00 $1,476.90 $264,824.99
95 $264,824.99 $2,142.39 $0.00 $1,497.36 $268,464.74
96 $268,464.74 $2,142.39 $0.00 $1,517.94 $272,125.07
97 $272,125.07 $2,142.39 $0.00 $1,538.63 $275,806.09
98 $275,806.09 $2,142.39 $0.00 $1,559.45 $279,507.93
99 $279,507.93 $2,142.39 $0.00 $1,580.38 $283,230.70
100 $283,230.70 $2,142.39 $0.00 $1,601.43 $286,974.52
101 $286,974.52 $2,142.39 $0.00 $1,622.60 $290,739.51
102 $290,739.51 $2,142.39 $0.00 $1,643.88 $294,525.78
103 $294,525.78 $2,142.39 $0.00 $1,665.29 $298,333.46
104 $298,333.46 $2,142.39 $0.00 $1,686.82 $302,162.67
105 $302,162.67 $2,142.39 $0.00 $1,708.47 $306,013.53
106 $306,013.53 $2,142.39 $0.00 $1,730.24 $309,886.16
107 $309,886.16 $2,142.39 $0.00 $1,752.14 $313,780.69
108 $313,780.69 $2,142.39 $0.00 $1,774.16 $317,697.24
109 $317,697.24 $2,142.39 $0.00 $1,796.31 $321,635.94
110 $321,635.94 $2,142.39 $0.00 $1,818.58 $325,596.91
111 $325,596.91 $2,142.39 $0.00 $1,840.97 $329,580.27
112 $329,580.27 $2,142.39 $0.00 $1,863.49 $333,586.15
113 $333,586.15 $2,142.39 $0.00 $1,886.14 $337,614.68
114 $337,614.68 $2,142.39 $0.00 $1,908.92 $341,665.99
115 $341,665.99 $2,142.39 $0.00 $1,931.83 $345,740.21
116 $345,740.21 $2,142.39 $0.00 $1,954.87 $349,837.47
117 $349,837.47 $2,142.39 $0.00 $1,978.03 $353,957.89
118 $353,957.89 $2,142.39 $0.00 $2,001.33 $358,101.61
119 $358,101.61 $2,142.39 $0.00 $2,024.76 $362,268.76
120 $362,268.76 $2,142.39 $0.00 $2,048.32 $366,459.47
121 $366,459.47 $2,142.39 $0.00 $2,072.02 $370,673.88
122 $370,673.88 $2,142.39 $0.00 $2,095.84 $374,912.11
123 $374,912.11 $2,142.39 $0.00 $2,119.81 $379,174.31
124 $379,174.31 $2,142.39 $0.00 $2,143.91 $383,460.61
125 $383,460.61 $2,142.39 $0.00 $2,168.14 $387,771.14
126 $387,771.14 $2,142.39 $0.00 $2,192.51 $392,106.04
127 $392,106.04 $2,142.39 $0.00 $2,217.02 $396,465.45
128 $396,465.45 $2,142.39 $0.00 $2,241.67 $400,849.51
129 $400,849.51 $2,142.39 $0.00 $2,266.46 $405,258.36
130 $405,258.36 $2,142.39 $0.00 $2,291.39 $409,692.14
131 $409,692.14 $2,142.39 $0.00 $2,316.46 $414,150.99
132 $414,150.99 $2,142.39 $0.00 $2,341.67 $418,635.05
133 $418,635.05 $2,142.39 $0.00 $2,367.02 $423,144.46
134 $423,144.46 $2,142.39 $0.00 $2,392.52 $427,679.37
135 $427,679.37 $2,142.39 $0.00 $2,418.16 $432,239.92
136 $432,239.92 $2,142.39 $0.00 $2,443.95 $436,826.26
137 $436,826.26 $2,142.39 $0.00 $2,469.88 $441,438.53
138 $441,438.53 $2,142.39 $0.00 $2,495.96 $446,076.88
139 $446,076.88 $2,142.39 $0.00 $2,522.18 $450,741.45
140 $450,741.45 $2,142.39 $0.00 $2,548.56 $455,432.40
141 $455,432.40 $2,142.39 $0.00 $2,575.08 $460,149.87
142 $460,149.87 $2,142.39 $0.00 $2,601.75 $464,894.01
143 $464,894.01 $2,142.39 $0.00 $2,628.58 $469,664.98
144 $469,664.98 $2,142.39 $0.00 $2,655.55 $474,462.92
145 $474,462.92 $2,142.39 $0.00 $2,682.68 $479,287.99
146 $479,287.99 $2,142.39 $0.00 $2,709.96 $484,140.34
147 $484,140.34 $2,142.39 $0.00 $2,737.40 $489,020.13
148 $489,020.13 $2,142.39 $0.00 $2,764.99 $493,927.51
149 $493,927.51 $2,142.39 $0.00 $2,792.74 $498,862.64
150 $498,862.64 $2,142.39 $0.00 $2,820.64 $503,825.67
151 $503,825.67 $2,142.39 $0.00 $2,848.70 $508,816.76
152 $508,816.76 $2,142.39 $0.00 $2,876.92 $513,836.07
153 $513,836.07 $2,142.39 $0.00 $2,905.30 $518,883.76
154 $518,883.76 $2,142.39 $0.00 $2,933.84 $523,959.99
155 $523,959.99 $2,142.39 $0.00 $2,962.55 $529,064.93
156 $529,064.93 $2,142.39 $0.00 $2,991.41 $534,198.73
157 $534,198.73 $2,142.39 $0.00 $3,020.44 $539,361.56
158 $539,361.56 $2,142.39 $0.00 $3,049.63 $544,553.58
159 $544,553.58 $2,142.39 $0.00 $3,078.99 $549,774.96
160 $549,774.96 $2,142.39 $0.00 $3,108.51 $555,025.86
161 $555,025.86 $2,142.39 $0.00 $3,138.20 $560,306.45
162 $560,306.45 $2,142.39 $0.00 $3,168.05 $565,616.89
163 $565,616.89 $2,142.39 $0.00 $3,198.08 $570,957.36
164 $570,957.36 $2,142.39 $0.00 $3,228.28 $576,328.03
165 $576,328.03 $2,142.39 $0.00 $3,258.64 $581,729.06
166 $581,729.06 $2,142.39 $0.00 $3,289.18 $587,160.63
167 $587,160.63 $2,142.39 $0.00 $3,319.89 $592,622.91
168 $592,622.91 $2,142.39 $0.00 $3,350.78 $598,116.08
169 $598,116.08 $2,142.39 $0.00 $3,381.84 $603,640.31
170 $603,640.31 $2,142.39 $0.00 $3,413.07 $609,195.77
171 $609,195.77 $2,142.39 $0.00 $3,444.48 $614,782.64
172 $614,782.64 $2,142.39 $0.00 $3,476.07 $620,401.10
173 $620,401.10 $2,142.39 $0.00 $3,507.84 $626,051.33
174 $626,051.33 $2,142.39 $0.00 $3,539.79 $631,733.51
175 $631,733.51 $2,142.39 $0.00 $3,571.91 $637,447.81
176 $637,447.81 $2,142.39 $0.00 $3,604.22 $643,194.42
177 $643,194.42 $2,142.39 $0.00 $3,636.71 $648,973.52
178 $648,973.52 $2,142.39 $0.00 $3,669.39 $654,785.30
179 $654,785.30 $2,142.39 $0.00 $3,702.25 $660,629.94
180 $660,629.94 $2,142.39 $0.00 $3,735.30 $666,507.63
181 $666,507.63 $2,142.39 $0.00 $3,768.53 $672,418.55
182 $672,418.55 $2,142.39 $0.00 $3,801.95 $678,362.89
183 $678,362.89 $2,142.39 $0.00 $3,835.56 $684,340.84
184 $684,340.84 $2,142.39 $0.00 $3,869.36 $690,352.59
185 $690,352.59 $2,142.39 $0.00 $3,903.35 $696,398.33
186 $696,398.33 $2,142.39 $0.00 $3,937.54 $702,478.26
187 $702,478.26 $2,142.39 $0.00 $3,971.91 $708,592.56
188 $708,592.56 $2,142.39 $0.00 $4,006.49 $714,741.44
189 $714,741.44 $2,142.39 $0.00 $4,041.25 $720,925.08
190 $720,925.08 $2,142.39 $0.00 $4,076.22 $727,143.69
191 $727,143.69 $2,142.39 $0.00 $4,111.38 $733,397.46
192 $733,397.46 $2,142.39 $0.00 $4,146.74 $739,686.59
193 $739,686.59 $2,142.39 $0.00 $4,182.30 $746,011.28
194 $746,011.28 $2,142.39 $0.00 $4,218.06 $752,371.73
195 $752,371.73 $2,142.39 $0.00 $4,254.02 $758,768.14
196 $758,768.14 $2,142.39 $0.00 $4,290.19 $765,200.72
197 $765,200.72 $2,142.39 $0.00 $4,326.56 $771,669.67
198 $771,669.67 $2,142.39 $0.00 $4,363.13 $778,175.19
199 $778,175.19 $2,142.39 $0.00 $4,399.92 $784,717.50
200 $784,717.50 $2,142.39 $0.00 $4,436.91 $791,296.80
201 $791,296.80 $2,142.39 $0.00 $4,474.11 $797,913.30
202 $797,913.30 $2,142.39 $0.00 $4,511.52 $804,567.21
203 $804,567.21 $2,142.39 $0.00 $4,549.14 $811,258.74
204 $811,258.74 $2,142.39 $0.00 $4,586.97 $817,988.10
205 $817,988.10 $2,142.39 $0.00 $4,625.02 $824,755.51
206 $824,755.51 $2,142.39 $0.00 $4,663.29 $831,561.19
207 $831,561.19 $2,142.39 $0.00 $4,701.77 $838,405.35
208 $838,405.35 $2,142.39 $0.00 $4,740.47 $845,288.21
209 $845,288.21 $2,142.39 $0.00 $4,779.38 $852,209.98
210 $852,209.98 $2,142.39 $0.00 $4,818.52 $859,170.89
211 $859,170.89 $2,142.39 $0.00 $4,857.88 $866,171.16
212 $866,171.16 $2,142.39 $0.00 $4,897.46 $873,211.01
213 $873,211.01 $2,142.39 $0.00 $4,937.26 $880,290.66
214 $880,290.66 $2,142.39 $0.00 $4,977.29 $887,410.34
215 $887,410.34 $2,142.39 $0.00 $5,017.55 $894,570.28
216 $894,570.28 $2,142.39 $0.00 $5,058.03 $901,770.70
217 $901,770.70 $2,142.39 $244,217.01 $5,098.74 $664,794.82
218 $664,794.82 $2,142.39 $0.00 $3,758.85 $670,696.06
219 $670,696.06 $2,142.39 $0.00 $3,792.21 $676,630.66
220 $676,630.66 $2,142.39 $0.00 $3,825.77 $682,598.82
221 $682,598.82 $2,142.39 $0.00 $3,859.51 $688,600.72
222 $688,600.72 $2,142.39 $0.00 $3,893.45 $694,636.56
223 $694,636.56 $2,142.39 $0.00 $3,927.58 $700,706.53
224 $700,706.53 $2,142.39 $0.00 $3,961.90 $706,810.82
225 $706,810.82 $2,142.39 $0.00 $3,996.41 $712,949.62
226 $712,949.62 $2,142.39 $0.00 $4,031.12 $719,123.13
227 $719,123.13 $2,142.39 $0.00 $4,066.03 $725,331.55
228 $725,331.55 $2,142.39 $0.00 $4,101.13 $731,575.07
229 $731,575.07 $2,142.39 $261,312.20 $4,136.43 $476,541.69
230 $476,541.69 $2,142.39 $0.00 $2,694.44 $481,378.52
231 $481,378.52 $2,142.39 $0.00 $2,721.78 $486,242.69
232 $486,242.69 $2,142.39 $0.00 $2,749.29 $491,134.37
233 $491,134.37 $2,142.39 $0.00 $2,776.95 $496,053.71
234 $496,053.71 $2,142.39 $0.00 $2,804.76 $501,000.86
235 $501,000.86 $2,142.39 $0.00 $2,832.73 $505,975.98
236 $505,975.98 $2,142.39 $0.00 $2,860.86 $510,979.23
237 $510,979.23 $2,142.39 $0.00 $2,889.15 $516,010.77
238 $516,010.77 $2,142.39 $0.00 $2,917.60 $521,070.76
239 $521,070.76 $2,142.39 $0.00 $2,946.21 $526,159.36
240 $526,159.36 $2,142.39 $0.00 $2,974.98 $531,276.73
241 $531,276.73 $2,142.39 $279,604.05 $3,003.92 $256,818.99
242 $256,818.99 $2,142.39 $0.00 $1,452.09 $260,413.47
243 $260,413.47 $2,142.39 $0.00 $1,472.42 $264,028.28
244 $264,028.28 $2,142.39 $0.00 $1,492.85 $267,663.52
245 $267,663.52 $2,142.39 $0.00 $1,513.41 $271,319.32
246 $271,319.32 $2,142.39 $0.00 $1,534.08 $274,995.79
247 $274,995.79 $2,142.39 $0.00 $1,554.87 $278,693.05
248 $278,693.05 $2,142.39 $0.00 $1,575.77 $282,411.21
249 $282,411.21 $2,142.39 $0.00 $1,596.79 $286,150.39
250 $286,150.39 $2,142.39 $0.00 $1,617.94 $289,910.72
251 $289,910.72 $2,142.39 $0.00 $1,639.20 $293,692.31
252 $293,692.31 $2,142.39 $0.00 $1,660.58 $297,495.28
253 $297,495.28 $0.00 $299,176.33 $1,682.08 $1.03