Savings Plan and Future Cost Estimation for Longy School 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$166,743
Monthly savings required$1,320

How much will it cost to send your child to Longy School of Music in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $666,972.95 for students enrolling in 2041 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,319.92 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$64,300.00
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 $1,319.92 $0.00 $0.00 $1,319.92
2 $1,319.92 $1,319.92 $0.00 $7.46 $2,647.30
3 $2,647.30 $1,319.92 $0.00 $14.97 $3,982.19
4 $3,982.19 $1,319.92 $0.00 $22.52 $5,324.63
5 $5,324.63 $1,319.92 $0.00 $30.11 $6,674.66
6 $6,674.66 $1,319.92 $0.00 $37.74 $8,032.32
7 $8,032.32 $1,319.92 $0.00 $45.42 $9,397.66
8 $9,397.66 $1,319.92 $0.00 $53.14 $10,770.72
9 $10,770.72 $1,319.92 $0.00 $60.90 $12,151.54
10 $12,151.54 $1,319.92 $0.00 $68.71 $13,540.17
11 $13,540.17 $1,319.92 $0.00 $76.56 $14,936.65
12 $14,936.65 $1,319.92 $0.00 $84.45 $16,341.02
13 $16,341.02 $1,319.92 $0.00 $92.39 $17,753.33
14 $17,753.33 $1,319.92 $0.00 $100.38 $19,173.63
15 $19,173.63 $1,319.92 $0.00 $108.41 $20,601.96
16 $20,601.96 $1,319.92 $0.00 $116.49 $22,038.37
17 $22,038.37 $1,319.92 $0.00 $124.61 $23,482.90
18 $23,482.90 $1,319.92 $0.00 $132.78 $24,935.60
19 $24,935.60 $1,319.92 $0.00 $140.99 $26,396.51
20 $26,396.51 $1,319.92 $0.00 $149.25 $27,865.68
21 $27,865.68 $1,319.92 $0.00 $157.56 $29,343.16
22 $29,343.16 $1,319.92 $0.00 $165.91 $30,828.99
23 $30,828.99 $1,319.92 $0.00 $174.31 $32,323.22
24 $32,323.22 $1,319.92 $0.00 $182.76 $33,825.90
25 $33,825.90 $1,319.92 $0.00 $191.26 $35,337.08
26 $35,337.08 $1,319.92 $0.00 $199.80 $36,856.80
27 $36,856.80 $1,319.92 $0.00 $208.39 $38,385.11
28 $38,385.11 $1,319.92 $0.00 $217.03 $39,922.06
29 $39,922.06 $1,319.92 $0.00 $225.73 $41,467.71
30 $41,467.71 $1,319.92 $0.00 $234.46 $43,022.09
31 $43,022.09 $1,319.92 $0.00 $243.25 $44,585.26
32 $44,585.26 $1,319.92 $0.00 $252.09 $46,157.27
33 $46,157.27 $1,319.92 $0.00 $260.98 $47,738.17
34 $47,738.17 $1,319.92 $0.00 $269.92 $49,328.01
35 $49,328.01 $1,319.92 $0.00 $278.91 $50,926.84
36 $50,926.84 $1,319.92 $0.00 $287.95 $52,534.71
37 $52,534.71 $1,319.92 $0.00 $297.04 $54,151.67
38 $54,151.67 $1,319.92 $0.00 $306.18 $55,777.77
39 $55,777.77 $1,319.92 $0.00 $315.38 $57,413.07
40 $57,413.07 $1,319.92 $0.00 $324.62 $59,057.61
41 $59,057.61 $1,319.92 $0.00 $333.92 $60,711.45
42 $60,711.45 $1,319.92 $0.00 $343.27 $62,374.64
43 $62,374.64 $1,319.92 $0.00 $352.68 $64,047.24
44 $64,047.24 $1,319.92 $0.00 $362.13 $65,729.29
45 $65,729.29 $1,319.92 $0.00 $371.64 $67,420.85
46 $67,420.85 $1,319.92 $0.00 $381.21 $69,121.98
47 $69,121.98 $1,319.92 $0.00 $390.83 $70,832.73
48 $70,832.73 $1,319.92 $0.00 $400.50 $72,553.15
49 $72,553.15 $1,319.92 $0.00 $410.23 $74,283.30
50 $74,283.30 $1,319.92 $0.00 $420.01 $76,023.23
51 $76,023.23 $1,319.92 $0.00 $429.85 $77,773.00
52 $77,773.00 $1,319.92 $0.00 $439.74 $79,532.66
53 $79,532.66 $1,319.92 $0.00 $449.69 $81,302.27
54 $81,302.27 $1,319.92 $0.00 $459.69 $83,081.88
55 $83,081.88 $1,319.92 $0.00 $469.76 $84,871.56
56 $84,871.56 $1,319.92 $0.00 $479.88 $86,671.36
57 $86,671.36 $1,319.92 $0.00 $490.05 $88,481.33
58 $88,481.33 $1,319.92 $0.00 $500.29 $90,301.54
59 $90,301.54 $1,319.92 $0.00 $510.58 $92,132.04
60 $92,132.04 $1,319.92 $0.00 $520.93 $93,972.89
61 $93,972.89 $1,319.92 $0.00 $531.34 $95,824.15
62 $95,824.15 $1,319.92 $0.00 $541.80 $97,685.87
63 $97,685.87 $1,319.92 $0.00 $552.33 $99,558.12
64 $99,558.12 $1,319.92 $0.00 $562.92 $101,440.96
65 $101,440.96 $1,319.92 $0.00 $573.56 $103,334.44
66 $103,334.44 $1,319.92 $0.00 $584.27 $105,238.63
67 $105,238.63 $1,319.92 $0.00 $595.03 $107,153.58
68 $107,153.58 $1,319.92 $0.00 $605.86 $109,079.36
69 $109,079.36 $1,319.92 $0.00 $616.75 $111,016.03
70 $111,016.03 $1,319.92 $0.00 $627.70 $112,963.65
71 $112,963.65 $1,319.92 $0.00 $638.71 $114,922.28
72 $114,922.28 $1,319.92 $0.00 $649.79 $116,891.99
73 $116,891.99 $1,319.92 $0.00 $660.92 $118,872.83
74 $118,872.83 $1,319.92 $0.00 $672.12 $120,864.87
75 $120,864.87 $1,319.92 $0.00 $683.39 $122,868.18
76 $122,868.18 $1,319.92 $0.00 $694.71 $124,882.81
77 $124,882.81 $1,319.92 $0.00 $706.11 $126,908.84
78 $126,908.84 $1,319.92 $0.00 $717.56 $128,946.32
79 $128,946.32 $1,319.92 $0.00 $729.08 $130,995.32
80 $130,995.32 $1,319.92 $0.00 $740.67 $133,055.91
81 $133,055.91 $1,319.92 $0.00 $752.32 $135,128.15
82 $135,128.15 $1,319.92 $0.00 $764.03 $137,212.10
83 $137,212.10 $1,319.92 $0.00 $775.82 $139,307.84
84 $139,307.84 $1,319.92 $0.00 $787.67 $141,415.43
85 $141,415.43 $1,319.92 $0.00 $799.58 $143,534.93
86 $143,534.93 $1,319.92 $0.00 $811.57 $145,666.42
87 $145,666.42 $1,319.92 $0.00 $823.62 $147,809.96
88 $147,809.96 $1,319.92 $0.00 $835.74 $149,965.62
89 $149,965.62 $1,319.92 $0.00 $847.93 $152,133.47
90 $152,133.47 $1,319.92 $0.00 $860.18 $154,313.57
91 $154,313.57 $1,319.92 $0.00 $872.51 $156,506.00
92 $156,506.00 $1,319.92 $0.00 $884.91 $158,710.83
93 $158,710.83 $1,319.92 $0.00 $897.37 $160,928.12
94 $160,928.12 $1,319.92 $0.00 $909.91 $163,157.95
95 $163,157.95 $1,319.92 $0.00 $922.52 $165,400.39
96 $165,400.39 $1,319.92 $0.00 $935.20 $167,655.51
97 $167,655.51 $1,319.92 $0.00 $947.95 $169,923.38
98 $169,923.38 $1,319.92 $0.00 $960.77 $172,204.07
99 $172,204.07 $1,319.92 $0.00 $973.67 $174,497.66
100 $174,497.66 $1,319.92 $0.00 $986.64 $176,804.22
101 $176,804.22 $1,319.92 $0.00 $999.68 $179,123.82
102 $179,123.82 $1,319.92 $0.00 $1,012.79 $181,456.53
103 $181,456.53 $1,319.92 $0.00 $1,025.98 $183,802.43
104 $183,802.43 $1,319.92 $0.00 $1,039.25 $186,161.60
105 $186,161.60 $1,319.92 $0.00 $1,052.58 $188,534.10
106 $188,534.10 $1,319.92 $0.00 $1,066.00 $190,920.02
107 $190,920.02 $1,319.92 $0.00 $1,079.49 $193,319.43
108 $193,319.43 $1,319.92 $0.00 $1,093.06 $195,732.41
109 $195,732.41 $1,319.92 $0.00 $1,106.70 $198,159.03
110 $198,159.03 $1,319.92 $0.00 $1,120.42 $200,599.37
111 $200,599.37 $1,319.92 $0.00 $1,134.22 $203,053.51
112 $203,053.51 $1,319.92 $0.00 $1,148.09 $205,521.52
113 $205,521.52 $1,319.92 $0.00 $1,162.05 $208,003.49
114 $208,003.49 $1,319.92 $0.00 $1,176.08 $210,499.49
115 $210,499.49 $1,319.92 $0.00 $1,190.19 $213,009.60
116 $213,009.60 $1,319.92 $0.00 $1,204.39 $215,533.91
117 $215,533.91 $1,319.92 $0.00 $1,218.66 $218,072.49
118 $218,072.49 $1,319.92 $0.00 $1,233.01 $220,625.42
119 $220,625.42 $1,319.92 $0.00 $1,247.45 $223,192.79
120 $223,192.79 $1,319.92 $0.00 $1,261.96 $225,774.67
121 $225,774.67 $1,319.92 $0.00 $1,276.56 $228,371.15
122 $228,371.15 $1,319.92 $0.00 $1,291.24 $230,982.31
123 $230,982.31 $1,319.92 $0.00 $1,306.01 $233,608.24
124 $233,608.24 $1,319.92 $0.00 $1,320.85 $236,249.01
125 $236,249.01 $1,319.92 $0.00 $1,335.79 $238,904.72
126 $238,904.72 $1,319.92 $0.00 $1,350.80 $241,575.44
127 $241,575.44 $1,319.92 $0.00 $1,365.90 $244,261.26
128 $244,261.26 $1,319.92 $0.00 $1,381.09 $246,962.27
129 $246,962.27 $1,319.92 $0.00 $1,396.36 $249,678.55
130 $249,678.55 $1,319.92 $0.00 $1,411.72 $252,410.19
131 $252,410.19 $1,319.92 $0.00 $1,427.16 $255,157.27
132 $255,157.27 $1,319.92 $0.00 $1,442.70 $257,919.89
133 $257,919.89 $1,319.92 $0.00 $1,458.32 $260,698.13
134 $260,698.13 $1,319.92 $0.00 $1,474.03 $263,492.08
135 $263,492.08 $1,319.92 $0.00 $1,489.82 $266,301.82
136 $266,301.82 $1,319.92 $0.00 $1,505.71 $269,127.45
137 $269,127.45 $1,319.92 $0.00 $1,521.69 $271,969.06
138 $271,969.06 $1,319.92 $0.00 $1,537.75 $274,826.73
139 $274,826.73 $1,319.92 $0.00 $1,553.91 $277,700.56
140 $277,700.56 $1,319.92 $0.00 $1,570.16 $280,590.64
141 $280,590.64 $1,319.92 $0.00 $1,586.50 $283,497.06
142 $283,497.06 $1,319.92 $0.00 $1,602.93 $286,419.91
143 $286,419.91 $1,319.92 $0.00 $1,619.46 $289,359.29
144 $289,359.29 $1,319.92 $0.00 $1,636.08 $292,315.29
145 $292,315.29 $1,319.92 $0.00 $1,652.79 $295,288.00
146 $295,288.00 $1,319.92 $0.00 $1,669.60 $298,277.52
147 $298,277.52 $1,319.92 $0.00 $1,686.50 $301,283.94
148 $301,283.94 $1,319.92 $0.00 $1,703.50 $304,307.36
149 $304,307.36 $1,319.92 $0.00 $1,720.60 $307,347.88
150 $307,347.88 $1,319.92 $0.00 $1,737.79 $310,405.59
151 $310,405.59 $1,319.92 $0.00 $1,755.08 $313,480.59
152 $313,480.59 $1,319.92 $0.00 $1,772.46 $316,572.97
153 $316,572.97 $1,319.92 $0.00 $1,789.95 $319,682.84
154 $319,682.84 $1,319.92 $0.00 $1,807.53 $322,810.29
155 $322,810.29 $1,319.92 $0.00 $1,825.22 $325,955.43
156 $325,955.43 $1,319.92 $0.00 $1,843.00 $329,118.35
157 $329,118.35 $1,319.92 $0.00 $1,860.88 $332,299.15
158 $332,299.15 $1,319.92 $0.00 $1,878.87 $335,497.94
159 $335,497.94 $1,319.92 $0.00 $1,896.95 $338,714.81
160 $338,714.81 $1,319.92 $0.00 $1,915.14 $341,949.87
161 $341,949.87 $1,319.92 $0.00 $1,933.43 $345,203.22
162 $345,203.22 $1,319.92 $0.00 $1,951.83 $348,474.97
163 $348,474.97 $1,319.92 $0.00 $1,970.33 $351,765.22
164 $351,765.22 $1,319.92 $0.00 $1,988.93 $355,074.07
165 $355,074.07 $1,319.92 $0.00 $2,007.64 $358,401.63
166 $358,401.63 $1,319.92 $0.00 $2,026.45 $361,748.00
167 $361,748.00 $1,319.92 $0.00 $2,045.38 $365,113.30
168 $365,113.30 $1,319.92 $0.00 $2,064.40 $368,497.62
169 $368,497.62 $1,319.92 $0.00 $2,083.54 $371,901.08
170 $371,901.08 $1,319.92 $0.00 $2,102.78 $375,323.78
171 $375,323.78 $1,319.92 $0.00 $2,122.14 $378,765.84
172 $378,765.84 $1,319.92 $0.00 $2,141.60 $382,227.36
173 $382,227.36 $1,319.92 $0.00 $2,161.17 $385,708.45
174 $385,708.45 $1,319.92 $0.00 $2,180.85 $389,209.22
175 $389,209.22 $1,319.92 $0.00 $2,200.65 $392,729.79
176 $392,729.79 $1,319.92 $0.00 $2,220.55 $396,270.26
177 $396,270.26 $1,319.92 $0.00 $2,240.57 $399,830.75
178 $399,830.75 $1,319.92 $0.00 $2,260.70 $403,411.37
179 $403,411.37 $1,319.92 $0.00 $2,280.95 $407,012.24
180 $407,012.24 $1,319.92 $0.00 $2,301.31 $410,633.47
181 $410,633.47 $1,319.92 $0.00 $2,321.78 $414,275.17
182 $414,275.17 $1,319.92 $0.00 $2,342.37 $417,937.46
183 $417,937.46 $1,319.92 $0.00 $2,363.08 $421,620.46
184 $421,620.46 $1,319.92 $0.00 $2,383.90 $425,324.28
185 $425,324.28 $1,319.92 $0.00 $2,404.85 $429,049.05
186 $429,049.05 $1,319.92 $0.00 $2,425.91 $432,794.88
187 $432,794.88 $1,319.92 $0.00 $2,447.09 $436,561.89
188 $436,561.89 $1,319.92 $0.00 $2,468.38 $440,350.19
189 $440,350.19 $1,319.92 $0.00 $2,489.80 $444,159.91
190 $444,159.91 $1,319.92 $0.00 $2,511.34 $447,991.17
191 $447,991.17 $1,319.92 $0.00 $2,533.01 $451,844.10
192 $451,844.10 $1,319.92 $0.00 $2,554.79 $455,718.81
193 $455,718.81 $1,319.92 $0.00 $2,576.70 $459,615.43
194 $459,615.43 $1,319.92 $0.00 $2,598.73 $463,534.08
195 $463,534.08 $1,319.92 $0.00 $2,620.89 $467,474.89
196 $467,474.89 $1,319.92 $0.00 $2,643.17 $471,437.98
197 $471,437.98 $1,319.92 $0.00 $2,665.58 $475,423.48
198 $475,423.48 $1,319.92 $0.00 $2,688.11 $479,431.51
199 $479,431.51 $1,319.92 $0.00 $2,710.78 $483,462.21
200 $483,462.21 $1,319.92 $0.00 $2,733.57 $487,515.70
201 $487,515.70 $1,319.92 $0.00 $2,756.48 $491,592.10
202 $491,592.10 $1,319.92 $0.00 $2,779.53 $495,691.55
203 $495,691.55 $1,319.92 $0.00 $2,802.71 $499,814.18
204 $499,814.18 $1,319.92 $0.00 $2,826.02 $503,960.12
205 $503,960.12 $1,319.92 $0.00 $2,849.46 $508,129.50
206 $508,129.50 $1,319.92 $0.00 $2,873.04 $512,322.46
207 $512,322.46 $1,319.92 $0.00 $2,896.75 $516,539.13
208 $516,539.13 $1,319.92 $0.00 $2,920.59 $520,779.64
209 $520,779.64 $1,319.92 $0.00 $2,944.56 $525,044.12
210 $525,044.12 $1,319.92 $0.00 $2,968.68 $529,332.72
211 $529,332.72 $1,319.92 $0.00 $2,992.92 $533,645.56
212 $533,645.56 $1,319.92 $0.00 $3,017.31 $537,982.79
213 $537,982.79 $1,319.92 $0.00 $3,041.83 $542,344.54
214 $542,344.54 $1,319.92 $0.00 $3,066.49 $546,730.95
215 $546,730.95 $1,319.92 $0.00 $3,091.30 $551,142.17
216 $551,142.17 $1,319.92 $0.00 $3,116.24 $555,578.33
217 $555,578.33 $1,319.92 $154,745.62 $3,141.32 $405,293.95
218 $405,293.95 $1,319.92 $0.00 $2,291.59 $408,905.46
219 $408,905.46 $1,319.92 $0.00 $2,312.01 $412,537.39
220 $412,537.39 $1,319.92 $0.00 $2,332.55 $416,189.86
221 $416,189.86 $1,319.92 $0.00 $2,353.20 $419,862.98
222 $419,862.98 $1,319.92 $0.00 $2,373.97 $423,556.87
223 $423,556.87 $1,319.92 $0.00 $2,394.85 $427,271.64
224 $427,271.64 $1,319.92 $0.00 $2,415.86 $431,007.42
225 $431,007.42 $1,319.92 $0.00 $2,436.98 $434,764.32
226 $434,764.32 $1,319.92 $0.00 $2,458.22 $438,542.46
227 $438,542.46 $1,319.92 $0.00 $2,479.58 $442,341.96
228 $442,341.96 $1,319.92 $0.00 $2,501.07 $446,162.95
229 $446,162.95 $1,319.92 $162,482.90 $2,522.67 $287,522.64
230 $287,522.64 $1,319.92 $0.00 $1,625.69 $290,468.25
231 $290,468.25 $1,319.92 $0.00 $1,642.35 $293,430.52
232 $293,430.52 $1,319.92 $0.00 $1,659.10 $296,409.54
233 $296,409.54 $1,319.92 $0.00 $1,675.94 $299,405.40
234 $299,405.40 $1,319.92 $0.00 $1,692.88 $302,418.20
235 $302,418.20 $1,319.92 $0.00 $1,709.92 $305,448.04
236 $305,448.04 $1,319.92 $0.00 $1,727.05 $308,495.01
237 $308,495.01 $1,319.92 $0.00 $1,744.28 $311,559.21
238 $311,559.21 $1,319.92 $0.00 $1,761.60 $314,640.73
239 $314,640.73 $1,319.92 $0.00 $1,779.02 $317,739.67
240 $317,739.67 $1,319.92 $0.00 $1,796.55 $320,856.14
241 $320,856.14 $1,319.92 $170,607.04 $1,814.17 $153,383.19
242 $153,383.19 $1,319.92 $0.00 $867.25 $155,570.36
243 $155,570.36 $1,319.92 $0.00 $879.62 $157,769.90
244 $157,769.90 $1,319.92 $0.00 $892.05 $159,981.87
245 $159,981.87 $1,319.92 $0.00 $904.56 $162,206.35
246 $162,206.35 $1,319.92 $0.00 $917.14 $164,443.41
247 $164,443.41 $1,319.92 $0.00 $929.79 $166,693.12
248 $166,693.12 $1,319.92 $0.00 $942.51 $168,955.55
249 $168,955.55 $1,319.92 $0.00 $955.30 $171,230.77
250 $171,230.77 $1,319.92 $0.00 $968.16 $173,518.85
251 $173,518.85 $1,319.92 $0.00 $981.10 $175,819.87
252 $175,819.87 $1,319.92 $0.00 $994.11 $178,133.90
253 $178,133.90 $0.00 $179,137.39 $1,007.19 $3.70