Savings Plan and Future Cost Estimation for Berklee 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 2041$177,038
Monthly savings required$1,401

How much will it cost to send your child to Berklee College of Music in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $708,153.09 for students enrolling in 2041 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,401.41 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$68,270.00
Years until enrollment18
Annual Tuition Increase5%
Current Savings$0.00
After Tax Return on Savings7%
Years of enrollment4

Current Savings Shortfall

College Savings Calculator

Update Your Savings Plan

Discover how much will you need to start saving now to afford Berklee College of Music in the future.

Planned Savings Balance

College Savings Schedule

Month Begin Deposit Withdraw Interest End
1 $0.00 $1,401.41 $0.00 $0.00 $1,401.41
2 $1,401.41 $1,401.41 $0.00 $7.92 $2,810.74
3 $2,810.74 $1,401.41 $0.00 $15.89 $4,228.04
4 $4,228.04 $1,401.41 $0.00 $23.91 $5,653.36
5 $5,653.36 $1,401.41 $0.00 $31.96 $7,086.73
6 $7,086.73 $1,401.41 $0.00 $40.07 $8,528.21
7 $8,528.21 $1,401.41 $0.00 $48.22 $9,977.84
8 $9,977.84 $1,401.41 $0.00 $56.42 $11,435.67
9 $11,435.67 $1,401.41 $0.00 $64.66 $12,901.74
10 $12,901.74 $1,401.41 $0.00 $72.95 $14,376.10
11 $14,376.10 $1,401.41 $0.00 $81.28 $15,858.79
12 $15,858.79 $1,401.41 $0.00 $89.67 $17,349.87
13 $17,349.87 $1,401.41 $0.00 $98.10 $18,849.38
14 $18,849.38 $1,401.41 $0.00 $106.58 $20,357.37
15 $20,357.37 $1,401.41 $0.00 $115.10 $21,873.88
16 $21,873.88 $1,401.41 $0.00 $123.68 $23,398.97
17 $23,398.97 $1,401.41 $0.00 $132.30 $24,932.68
18 $24,932.68 $1,401.41 $0.00 $140.97 $26,475.06
19 $26,475.06 $1,401.41 $0.00 $149.69 $28,026.16
20 $28,026.16 $1,401.41 $0.00 $158.46 $29,586.03
21 $29,586.03 $1,401.41 $0.00 $167.28 $31,154.72
22 $31,154.72 $1,401.41 $0.00 $176.15 $32,732.28
23 $32,732.28 $1,401.41 $0.00 $185.07 $34,318.76
24 $34,318.76 $1,401.41 $0.00 $194.04 $35,914.21
25 $35,914.21 $1,401.41 $0.00 $203.06 $37,518.68
26 $37,518.68 $1,401.41 $0.00 $212.14 $39,132.23
27 $39,132.23 $1,401.41 $0.00 $221.26 $40,754.90
28 $40,754.90 $1,401.41 $0.00 $230.43 $42,386.74
29 $42,386.74 $1,401.41 $0.00 $239.66 $44,027.81
30 $44,027.81 $1,401.41 $0.00 $248.94 $45,678.16
31 $45,678.16 $1,401.41 $0.00 $258.27 $47,337.84
32 $47,337.84 $1,401.41 $0.00 $267.66 $49,006.91
33 $49,006.91 $1,401.41 $0.00 $277.09 $50,685.41
34 $50,685.41 $1,401.41 $0.00 $286.58 $52,373.40
35 $52,373.40 $1,401.41 $0.00 $296.13 $54,070.94
36 $54,070.94 $1,401.41 $0.00 $305.72 $55,778.07
37 $55,778.07 $1,401.41 $0.00 $315.38 $57,494.86
38 $57,494.86 $1,401.41 $0.00 $325.08 $59,221.35
39 $59,221.35 $1,401.41 $0.00 $334.85 $60,957.61
40 $60,957.61 $1,401.41 $0.00 $344.66 $62,703.68
41 $62,703.68 $1,401.41 $0.00 $354.54 $64,459.63
42 $64,459.63 $1,401.41 $0.00 $364.46 $66,225.50
43 $66,225.50 $1,401.41 $0.00 $374.45 $68,001.36
44 $68,001.36 $1,401.41 $0.00 $384.49 $69,787.26
45 $69,787.26 $1,401.41 $0.00 $394.59 $71,583.26
46 $71,583.26 $1,401.41 $0.00 $404.74 $73,389.41
47 $73,389.41 $1,401.41 $0.00 $414.95 $75,205.77
48 $75,205.77 $1,401.41 $0.00 $425.22 $77,032.40
49 $77,032.40 $1,401.41 $0.00 $435.55 $78,869.36
50 $78,869.36 $1,401.41 $0.00 $445.94 $80,716.71
51 $80,716.71 $1,401.41 $0.00 $456.38 $82,574.50
52 $82,574.50 $1,401.41 $0.00 $466.89 $84,442.80
53 $84,442.80 $1,401.41 $0.00 $477.45 $86,321.66
54 $86,321.66 $1,401.41 $0.00 $488.08 $88,211.15
55 $88,211.15 $1,401.41 $0.00 $498.76 $90,111.32
56 $90,111.32 $1,401.41 $0.00 $509.50 $92,022.23
57 $92,022.23 $1,401.41 $0.00 $520.31 $93,943.95
58 $93,943.95 $1,401.41 $0.00 $531.17 $95,876.53
59 $95,876.53 $1,401.41 $0.00 $542.10 $97,820.04
60 $97,820.04 $1,401.41 $0.00 $553.09 $99,774.54
61 $99,774.54 $1,401.41 $0.00 $564.14 $101,740.09
62 $101,740.09 $1,401.41 $0.00 $575.25 $103,716.75
63 $103,716.75 $1,401.41 $0.00 $586.43 $105,704.59
64 $105,704.59 $1,401.41 $0.00 $597.67 $107,703.67
65 $107,703.67 $1,401.41 $0.00 $608.97 $109,714.05
66 $109,714.05 $1,401.41 $0.00 $620.34 $111,735.80
67 $111,735.80 $1,401.41 $0.00 $631.77 $113,768.98
68 $113,768.98 $1,401.41 $0.00 $643.27 $115,813.66
69 $115,813.66 $1,401.41 $0.00 $654.83 $117,869.90
70 $117,869.90 $1,401.41 $0.00 $666.45 $119,937.76
71 $119,937.76 $1,401.41 $0.00 $678.15 $122,017.32
72 $122,017.32 $1,401.41 $0.00 $689.90 $124,108.63
73 $124,108.63 $1,401.41 $0.00 $701.73 $126,211.77
74 $126,211.77 $1,401.41 $0.00 $713.62 $128,326.80
75 $128,326.80 $1,401.41 $0.00 $725.58 $130,453.79
76 $130,453.79 $1,401.41 $0.00 $737.60 $132,592.80
77 $132,592.80 $1,401.41 $0.00 $749.70 $134,743.91
78 $134,743.91 $1,401.41 $0.00 $761.86 $136,907.18
79 $136,907.18 $1,401.41 $0.00 $774.09 $139,082.68
80 $139,082.68 $1,401.41 $0.00 $786.39 $141,270.48
81 $141,270.48 $1,401.41 $0.00 $798.76 $143,470.65
82 $143,470.65 $1,401.41 $0.00 $811.20 $145,683.26
83 $145,683.26 $1,401.41 $0.00 $823.71 $147,908.38
84 $147,908.38 $1,401.41 $0.00 $836.30 $150,146.09
85 $150,146.09 $1,401.41 $0.00 $848.95 $152,396.45
86 $152,396.45 $1,401.41 $0.00 $861.67 $154,659.53
87 $154,659.53 $1,401.41 $0.00 $874.47 $156,935.41
88 $156,935.41 $1,401.41 $0.00 $887.34 $159,224.16
89 $159,224.16 $1,401.41 $0.00 $900.28 $161,525.85
90 $161,525.85 $1,401.41 $0.00 $913.29 $163,840.55
91 $163,840.55 $1,401.41 $0.00 $926.38 $166,168.34
92 $166,168.34 $1,401.41 $0.00 $939.54 $168,509.29
93 $168,509.29 $1,401.41 $0.00 $952.78 $170,863.48
94 $170,863.48 $1,401.41 $0.00 $966.09 $173,230.98
95 $173,230.98 $1,401.41 $0.00 $979.47 $175,611.86
96 $175,611.86 $1,401.41 $0.00 $992.93 $178,006.20
97 $178,006.20 $1,401.41 $0.00 $1,006.47 $180,414.08
98 $180,414.08 $1,401.41 $0.00 $1,020.09 $182,835.58
99 $182,835.58 $1,401.41 $0.00 $1,033.78 $185,270.77
100 $185,270.77 $1,401.41 $0.00 $1,047.55 $187,719.73
101 $187,719.73 $1,401.41 $0.00 $1,061.39 $190,182.53
102 $190,182.53 $1,401.41 $0.00 $1,075.32 $192,659.26
103 $192,659.26 $1,401.41 $0.00 $1,089.32 $195,149.99
104 $195,149.99 $1,401.41 $0.00 $1,103.41 $197,654.81
105 $197,654.81 $1,401.41 $0.00 $1,117.57 $200,173.79
106 $200,173.79 $1,401.41 $0.00 $1,131.81 $202,707.01
107 $202,707.01 $1,401.41 $0.00 $1,146.13 $205,254.55
108 $205,254.55 $1,401.41 $0.00 $1,160.54 $207,816.50
109 $207,816.50 $1,401.41 $0.00 $1,175.02 $210,392.93
110 $210,392.93 $1,401.41 $0.00 $1,189.59 $212,983.93
111 $212,983.93 $1,401.41 $0.00 $1,204.24 $215,589.58
112 $215,589.58 $1,401.41 $0.00 $1,218.97 $218,209.96
113 $218,209.96 $1,401.41 $0.00 $1,233.79 $220,845.16
114 $220,845.16 $1,401.41 $0.00 $1,248.69 $223,495.26
115 $223,495.26 $1,401.41 $0.00 $1,263.67 $226,160.34
116 $226,160.34 $1,401.41 $0.00 $1,278.74 $228,840.49
117 $228,840.49 $1,401.41 $0.00 $1,293.90 $231,535.80
118 $231,535.80 $1,401.41 $0.00 $1,309.14 $234,246.35
119 $234,246.35 $1,401.41 $0.00 $1,324.46 $236,972.22
120 $236,972.22 $1,401.41 $0.00 $1,339.88 $239,713.51
121 $239,713.51 $1,401.41 $0.00 $1,355.38 $242,470.30
122 $242,470.30 $1,401.41 $0.00 $1,370.96 $245,242.67
123 $245,242.67 $1,401.41 $0.00 $1,386.64 $248,030.72
124 $248,030.72 $1,401.41 $0.00 $1,402.40 $250,834.53
125 $250,834.53 $1,401.41 $0.00 $1,418.25 $253,654.19
126 $253,654.19 $1,401.41 $0.00 $1,434.20 $256,489.80
127 $256,489.80 $1,401.41 $0.00 $1,450.23 $259,341.44
128 $259,341.44 $1,401.41 $0.00 $1,466.35 $262,209.20
129 $262,209.20 $1,401.41 $0.00 $1,482.57 $265,093.18
130 $265,093.18 $1,401.41 $0.00 $1,498.88 $267,993.47
131 $267,993.47 $1,401.41 $0.00 $1,515.27 $270,910.15
132 $270,910.15 $1,401.41 $0.00 $1,531.77 $273,843.33
133 $273,843.33 $1,401.41 $0.00 $1,548.35 $276,793.09
134 $276,793.09 $1,401.41 $0.00 $1,565.03 $279,759.53
135 $279,759.53 $1,401.41 $0.00 $1,581.80 $282,742.74
136 $282,742.74 $1,401.41 $0.00 $1,598.67 $285,742.82
137 $285,742.82 $1,401.41 $0.00 $1,615.63 $288,759.86
138 $288,759.86 $1,401.41 $0.00 $1,632.69 $291,793.96
139 $291,793.96 $1,401.41 $0.00 $1,649.85 $294,845.22
140 $294,845.22 $1,401.41 $0.00 $1,667.10 $297,913.73
141 $297,913.73 $1,401.41 $0.00 $1,684.45 $300,999.59
142 $300,999.59 $1,401.41 $0.00 $1,701.90 $304,102.90
143 $304,102.90 $1,401.41 $0.00 $1,719.44 $307,223.75
144 $307,223.75 $1,401.41 $0.00 $1,737.09 $310,362.25
145 $310,362.25 $1,401.41 $0.00 $1,754.83 $313,518.49
146 $313,518.49 $1,401.41 $0.00 $1,772.68 $316,692.58
147 $316,692.58 $1,401.41 $0.00 $1,790.63 $319,884.62
148 $319,884.62 $1,401.41 $0.00 $1,808.67 $323,094.70
149 $323,094.70 $1,401.41 $0.00 $1,826.82 $326,322.93
150 $326,322.93 $1,401.41 $0.00 $1,845.08 $329,569.42
151 $329,569.42 $1,401.41 $0.00 $1,863.43 $332,834.26
152 $332,834.26 $1,401.41 $0.00 $1,881.89 $336,117.56
153 $336,117.56 $1,401.41 $0.00 $1,900.46 $339,419.43
154 $339,419.43 $1,401.41 $0.00 $1,919.13 $342,739.97
155 $342,739.97 $1,401.41 $0.00 $1,937.90 $346,079.28
156 $346,079.28 $1,401.41 $0.00 $1,956.78 $349,437.47
157 $349,437.47 $1,401.41 $0.00 $1,975.77 $352,814.65
158 $352,814.65 $1,401.41 $0.00 $1,994.87 $356,210.93
159 $356,210.93 $1,401.41 $0.00 $2,014.07 $359,626.41
160 $359,626.41 $1,401.41 $0.00 $2,033.38 $363,061.20
161 $363,061.20 $1,401.41 $0.00 $2,052.80 $366,515.41
162 $366,515.41 $1,401.41 $0.00 $2,072.33 $369,989.15
163 $369,989.15 $1,401.41 $0.00 $2,091.97 $373,482.53
164 $373,482.53 $1,401.41 $0.00 $2,111.72 $376,995.66
165 $376,995.66 $1,401.41 $0.00 $2,131.59 $380,528.66
166 $380,528.66 $1,401.41 $0.00 $2,151.56 $384,081.63
167 $384,081.63 $1,401.41 $0.00 $2,171.65 $387,654.69
168 $387,654.69 $1,401.41 $0.00 $2,191.86 $391,247.96
169 $391,247.96 $1,401.41 $0.00 $2,212.17 $394,861.54
170 $394,861.54 $1,401.41 $0.00 $2,232.60 $398,495.55
171 $398,495.55 $1,401.41 $0.00 $2,253.15 $402,150.11
172 $402,150.11 $1,401.41 $0.00 $2,273.82 $405,825.34
173 $405,825.34 $1,401.41 $0.00 $2,294.60 $409,521.35
174 $409,521.35 $1,401.41 $0.00 $2,315.49 $413,238.25
175 $413,238.25 $1,401.41 $0.00 $2,336.51 $416,976.17
176 $416,976.17 $1,401.41 $0.00 $2,357.64 $420,735.22
177 $420,735.22 $1,401.41 $0.00 $2,378.90 $424,515.53
178 $424,515.53 $1,401.41 $0.00 $2,400.27 $428,317.21
179 $428,317.21 $1,401.41 $0.00 $2,421.77 $432,140.39
180 $432,140.39 $1,401.41 $0.00 $2,443.38 $435,985.18
181 $435,985.18 $1,401.41 $0.00 $2,465.12 $439,851.71
182 $439,851.71 $1,401.41 $0.00 $2,486.99 $443,740.11
183 $443,740.11 $1,401.41 $0.00 $2,508.97 $447,650.49
184 $447,650.49 $1,401.41 $0.00 $2,531.08 $451,582.98
185 $451,582.98 $1,401.41 $0.00 $2,553.32 $455,537.71
186 $455,537.71 $1,401.41 $0.00 $2,575.68 $459,514.80
187 $459,514.80 $1,401.41 $0.00 $2,598.16 $463,514.37
188 $463,514.37 $1,401.41 $0.00 $2,620.78 $467,536.56
189 $467,536.56 $1,401.41 $0.00 $2,643.52 $471,581.49
190 $471,581.49 $1,401.41 $0.00 $2,666.39 $475,649.29
191 $475,649.29 $1,401.41 $0.00 $2,689.39 $479,740.09
192 $479,740.09 $1,401.41 $0.00 $2,712.52 $483,854.02
193 $483,854.02 $1,401.41 $0.00 $2,735.78 $487,991.21
194 $487,991.21 $1,401.41 $0.00 $2,759.17 $492,151.79
195 $492,151.79 $1,401.41 $0.00 $2,782.70 $496,335.90
196 $496,335.90 $1,401.41 $0.00 $2,806.36 $500,543.67
197 $500,543.67 $1,401.41 $0.00 $2,830.15 $504,775.23
198 $504,775.23 $1,401.41 $0.00 $2,854.07 $509,030.71
199 $509,030.71 $1,401.41 $0.00 $2,878.13 $513,310.25
200 $513,310.25 $1,401.41 $0.00 $2,902.33 $517,613.99
201 $517,613.99 $1,401.41 $0.00 $2,926.66 $521,942.06
202 $521,942.06 $1,401.41 $0.00 $2,951.14 $526,294.61
203 $526,294.61 $1,401.41 $0.00 $2,975.75 $530,671.77
204 $530,671.77 $1,401.41 $0.00 $3,000.50 $535,073.68
205 $535,073.68 $1,401.41 $0.00 $3,025.38 $539,500.47
206 $539,500.47 $1,401.41 $0.00 $3,050.41 $543,952.29
207 $543,952.29 $1,401.41 $0.00 $3,075.59 $548,429.29
208 $548,429.29 $1,401.41 $0.00 $3,100.90 $552,931.60
209 $552,931.60 $1,401.41 $0.00 $3,126.36 $557,459.37
210 $557,459.37 $1,401.41 $0.00 $3,151.96 $562,012.74
211 $562,012.74 $1,401.41 $0.00 $3,177.70 $566,591.85
212 $566,591.85 $1,401.41 $0.00 $3,203.59 $571,196.85
213 $571,196.85 $1,401.41 $0.00 $3,229.63 $575,827.89
214 $575,827.89 $1,401.41 $0.00 $3,255.81 $580,485.11
215 $580,485.11 $1,401.41 $0.00 $3,282.15 $585,168.67
216 $585,168.67 $1,401.41 $0.00 $3,308.63 $589,878.71
217 $589,878.71 $1,401.41 $164,299.90 $3,335.26 $430,315.48
218 $430,315.48 $1,401.41 $0.00 $2,433.07 $434,149.96
219 $434,149.96 $1,401.41 $0.00 $2,454.75 $438,006.12
220 $438,006.12 $1,401.41 $0.00 $2,476.55 $441,884.08
221 $441,884.08 $1,401.41 $0.00 $2,498.48 $445,783.97
222 $445,783.97 $1,401.41 $0.00 $2,520.53 $449,705.91
223 $449,705.91 $1,401.41 $0.00 $2,542.70 $453,650.02
224 $453,650.02 $1,401.41 $0.00 $2,565.00 $457,616.43
225 $457,616.43 $1,401.41 $0.00 $2,587.43 $461,605.27
226 $461,605.27 $1,401.41 $0.00 $2,609.98 $465,616.66
227 $465,616.66 $1,401.41 $0.00 $2,632.66 $469,650.73
228 $469,650.73 $1,401.41 $0.00 $2,655.47 $473,707.61
229 $473,707.61 $1,401.41 $172,514.89 $2,678.41 $305,272.54
230 $305,272.54 $1,401.41 $0.00 $1,726.06 $308,400.01
231 $308,400.01 $1,401.41 $0.00 $1,743.74 $311,545.16
232 $311,545.16 $1,401.41 $0.00 $1,761.52 $314,708.09
233 $314,708.09 $1,401.41 $0.00 $1,779.41 $317,888.91
234 $317,888.91 $1,401.41 $0.00 $1,797.39 $321,087.71
235 $321,087.71 $1,401.41 $0.00 $1,815.48 $324,304.60
236 $324,304.60 $1,401.41 $0.00 $1,833.67 $327,539.68
237 $327,539.68 $1,401.41 $0.00 $1,851.96 $330,793.05
238 $330,793.05 $1,401.41 $0.00 $1,870.35 $334,064.81
239 $334,064.81 $1,401.41 $0.00 $1,888.85 $337,355.07
240 $337,355.07 $1,401.41 $0.00 $1,907.45 $340,663.93
241 $340,663.93 $1,401.41 $181,140.63 $1,926.16 $162,850.87
242 $162,850.87 $1,401.41 $0.00 $920.78 $165,173.06
243 $165,173.06 $1,401.41 $0.00 $933.91 $167,508.38
244 $167,508.38 $1,401.41 $0.00 $947.12 $169,856.91
245 $169,856.91 $1,401.41 $0.00 $960.40 $172,218.72
246 $172,218.72 $1,401.41 $0.00 $973.75 $174,593.88
247 $174,593.88 $1,401.41 $0.00 $987.18 $176,982.47
248 $176,982.47 $1,401.41 $0.00 $1,000.68 $179,384.56
249 $179,384.56 $1,401.41 $0.00 $1,014.27 $181,800.24
250 $181,800.24 $1,401.41 $0.00 $1,027.92 $184,229.57
251 $184,229.57 $1,401.41 $0.00 $1,041.66 $186,672.64
252 $186,672.64 $1,401.41 $0.00 $1,055.47 $189,129.52
253 $189,129.52 $0.00 $190,197.67 $1,069.37 $1.22