Savings Plan and Future Cost Estimation for The Boston Conservatory

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$166,536
Monthly savings required$1,318

How much will it cost to send your child to The Boston Conservatory in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $666,143.12 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,318.28 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$64,220.00
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 $1,318.28 $0.00 $0.00 $1,318.28
2 $1,318.28 $1,318.28 $0.00 $7.45 $2,644.01
3 $2,644.01 $1,318.28 $0.00 $14.95 $3,977.24
4 $3,977.24 $1,318.28 $0.00 $22.49 $5,318.01
5 $5,318.01 $1,318.28 $0.00 $30.07 $6,666.36
6 $6,666.36 $1,318.28 $0.00 $37.69 $8,022.33
7 $8,022.33 $1,318.28 $0.00 $45.36 $9,385.97
8 $9,385.97 $1,318.28 $0.00 $53.07 $10,757.32
9 $10,757.32 $1,318.28 $0.00 $60.82 $12,136.42
10 $12,136.42 $1,318.28 $0.00 $68.62 $13,523.32
11 $13,523.32 $1,318.28 $0.00 $76.46 $14,918.06
12 $14,918.06 $1,318.28 $0.00 $84.35 $16,320.69
13 $16,320.69 $1,318.28 $0.00 $92.28 $17,731.25
14 $17,731.25 $1,318.28 $0.00 $100.26 $19,149.79
15 $19,149.79 $1,318.28 $0.00 $108.28 $20,576.35
16 $20,576.35 $1,318.28 $0.00 $116.34 $22,010.97
17 $22,010.97 $1,318.28 $0.00 $124.45 $23,453.70
18 $23,453.70 $1,318.28 $0.00 $132.61 $24,904.59
19 $24,904.59 $1,318.28 $0.00 $140.81 $26,363.68
20 $26,363.68 $1,318.28 $0.00 $149.06 $27,831.02
21 $27,831.02 $1,318.28 $0.00 $157.36 $29,306.66
22 $29,306.66 $1,318.28 $0.00 $165.70 $30,790.64
23 $30,790.64 $1,318.28 $0.00 $174.09 $32,283.01
24 $32,283.01 $1,318.28 $0.00 $182.53 $33,783.82
25 $33,783.82 $1,318.28 $0.00 $191.02 $35,293.12
26 $35,293.12 $1,318.28 $0.00 $199.55 $36,810.95
27 $36,810.95 $1,318.28 $0.00 $208.13 $38,337.36
28 $38,337.36 $1,318.28 $0.00 $216.77 $39,872.41
29 $39,872.41 $1,318.28 $0.00 $225.44 $41,416.13
30 $41,416.13 $1,318.28 $0.00 $234.17 $42,968.58
31 $42,968.58 $1,318.28 $0.00 $242.95 $44,529.81
32 $44,529.81 $1,318.28 $0.00 $251.78 $46,099.87
33 $46,099.87 $1,318.28 $0.00 $260.66 $47,678.81
34 $47,678.81 $1,318.28 $0.00 $269.58 $49,266.67
35 $49,266.67 $1,318.28 $0.00 $278.56 $50,863.51
36 $50,863.51 $1,318.28 $0.00 $287.59 $52,469.38
37 $52,469.38 $1,318.28 $0.00 $296.67 $54,084.33
38 $54,084.33 $1,318.28 $0.00 $305.80 $55,708.41
39 $55,708.41 $1,318.28 $0.00 $314.98 $57,341.67
40 $57,341.67 $1,318.28 $0.00 $324.22 $58,984.17
41 $58,984.17 $1,318.28 $0.00 $333.51 $60,635.96
42 $60,635.96 $1,318.28 $0.00 $342.84 $62,297.08
43 $62,297.08 $1,318.28 $0.00 $352.24 $63,967.60
44 $63,967.60 $1,318.28 $0.00 $361.68 $65,647.56
45 $65,647.56 $1,318.28 $0.00 $371.18 $67,337.02
46 $67,337.02 $1,318.28 $0.00 $380.73 $69,036.03
47 $69,036.03 $1,318.28 $0.00 $390.34 $70,744.65
48 $70,744.65 $1,318.28 $0.00 $400.00 $72,462.93
49 $72,462.93 $1,318.28 $0.00 $409.72 $74,190.93
50 $74,190.93 $1,318.28 $0.00 $419.49 $75,928.70
51 $75,928.70 $1,318.28 $0.00 $429.31 $77,676.29
52 $77,676.29 $1,318.28 $0.00 $439.19 $79,433.76
53 $79,433.76 $1,318.28 $0.00 $449.13 $81,201.17
54 $81,201.17 $1,318.28 $0.00 $459.12 $82,978.57
55 $82,978.57 $1,318.28 $0.00 $469.17 $84,766.02
56 $84,766.02 $1,318.28 $0.00 $479.28 $86,563.58
57 $86,563.58 $1,318.28 $0.00 $489.44 $88,371.30
58 $88,371.30 $1,318.28 $0.00 $499.66 $90,189.24
59 $90,189.24 $1,318.28 $0.00 $509.94 $92,017.46
60 $92,017.46 $1,318.28 $0.00 $520.28 $93,856.02
61 $93,856.02 $1,318.28 $0.00 $530.68 $95,704.98
62 $95,704.98 $1,318.28 $0.00 $541.13 $97,564.39
63 $97,564.39 $1,318.28 $0.00 $551.64 $99,434.31
64 $99,434.31 $1,318.28 $0.00 $562.22 $101,314.81
65 $101,314.81 $1,318.28 $0.00 $572.85 $103,205.94
66 $103,205.94 $1,318.28 $0.00 $583.54 $105,107.76
67 $105,107.76 $1,318.28 $0.00 $594.29 $107,020.33
68 $107,020.33 $1,318.28 $0.00 $605.11 $108,943.72
69 $108,943.72 $1,318.28 $0.00 $615.98 $110,877.98
70 $110,877.98 $1,318.28 $0.00 $626.92 $112,823.18
71 $112,823.18 $1,318.28 $0.00 $637.92 $114,779.38
72 $114,779.38 $1,318.28 $0.00 $648.98 $116,746.64
73 $116,746.64 $1,318.28 $0.00 $660.10 $118,725.02
74 $118,725.02 $1,318.28 $0.00 $671.29 $120,714.59
75 $120,714.59 $1,318.28 $0.00 $682.54 $122,715.41
76 $122,715.41 $1,318.28 $0.00 $693.85 $124,727.54
77 $124,727.54 $1,318.28 $0.00 $705.23 $126,751.05
78 $126,751.05 $1,318.28 $0.00 $716.67 $128,786.00
79 $128,786.00 $1,318.28 $0.00 $728.17 $130,832.45
80 $130,832.45 $1,318.28 $0.00 $739.75 $132,890.48
81 $132,890.48 $1,318.28 $0.00 $751.38 $134,960.14
82 $134,960.14 $1,318.28 $0.00 $763.08 $137,041.50
83 $137,041.50 $1,318.28 $0.00 $774.85 $139,134.63
84 $139,134.63 $1,318.28 $0.00 $786.69 $141,239.60
85 $141,239.60 $1,318.28 $0.00 $798.59 $143,356.47
86 $143,356.47 $1,318.28 $0.00 $810.56 $145,485.31
87 $145,485.31 $1,318.28 $0.00 $822.60 $147,626.19
88 $147,626.19 $1,318.28 $0.00 $834.70 $149,779.17
89 $149,779.17 $1,318.28 $0.00 $846.87 $151,944.32
90 $151,944.32 $1,318.28 $0.00 $859.12 $154,121.72
91 $154,121.72 $1,318.28 $0.00 $871.43 $156,311.43
92 $156,311.43 $1,318.28 $0.00 $883.81 $158,513.52
93 $158,513.52 $1,318.28 $0.00 $896.26 $160,728.06
94 $160,728.06 $1,318.28 $0.00 $908.78 $162,955.12
95 $162,955.12 $1,318.28 $0.00 $921.37 $165,194.77
96 $165,194.77 $1,318.28 $0.00 $934.04 $167,447.09
97 $167,447.09 $1,318.28 $0.00 $946.77 $169,712.14
98 $169,712.14 $1,318.28 $0.00 $959.58 $171,990.00
99 $171,990.00 $1,318.28 $0.00 $972.46 $174,280.74
100 $174,280.74 $1,318.28 $0.00 $985.41 $176,584.43
101 $176,584.43 $1,318.28 $0.00 $998.43 $178,901.14
102 $178,901.14 $1,318.28 $0.00 $1,011.53 $181,230.95
103 $181,230.95 $1,318.28 $0.00 $1,024.71 $183,573.94
104 $183,573.94 $1,318.28 $0.00 $1,037.95 $185,930.17
105 $185,930.17 $1,318.28 $0.00 $1,051.28 $188,299.73
106 $188,299.73 $1,318.28 $0.00 $1,064.67 $190,682.68
107 $190,682.68 $1,318.28 $0.00 $1,078.15 $193,079.11
108 $193,079.11 $1,318.28 $0.00 $1,091.70 $195,489.09
109 $195,489.09 $1,318.28 $0.00 $1,105.32 $197,912.69
110 $197,912.69 $1,318.28 $0.00 $1,119.03 $200,350.00
111 $200,350.00 $1,318.28 $0.00 $1,132.81 $202,801.09
112 $202,801.09 $1,318.28 $0.00 $1,146.67 $205,266.04
113 $205,266.04 $1,318.28 $0.00 $1,160.60 $207,744.92
114 $207,744.92 $1,318.28 $0.00 $1,174.62 $210,237.82
115 $210,237.82 $1,318.28 $0.00 $1,188.72 $212,744.82
116 $212,744.82 $1,318.28 $0.00 $1,202.89 $215,265.99
117 $215,265.99 $1,318.28 $0.00 $1,217.15 $217,801.42
118 $217,801.42 $1,318.28 $0.00 $1,231.48 $220,351.18
119 $220,351.18 $1,318.28 $0.00 $1,245.90 $222,915.36
120 $222,915.36 $1,318.28 $0.00 $1,260.40 $225,494.04
121 $225,494.04 $1,318.28 $0.00 $1,274.98 $228,087.30
122 $228,087.30 $1,318.28 $0.00 $1,289.64 $230,695.22
123 $230,695.22 $1,318.28 $0.00 $1,304.38 $233,317.88
124 $233,317.88 $1,318.28 $0.00 $1,319.21 $235,955.37
125 $235,955.37 $1,318.28 $0.00 $1,334.13 $238,607.78
126 $238,607.78 $1,318.28 $0.00 $1,349.12 $241,275.18
127 $241,275.18 $1,318.28 $0.00 $1,364.20 $243,957.66
128 $243,957.66 $1,318.28 $0.00 $1,379.37 $246,655.31
129 $246,655.31 $1,318.28 $0.00 $1,394.62 $249,368.21
130 $249,368.21 $1,318.28 $0.00 $1,409.96 $252,096.45
131 $252,096.45 $1,318.28 $0.00 $1,425.39 $254,840.12
132 $254,840.12 $1,318.28 $0.00 $1,440.90 $257,599.30
133 $257,599.30 $1,318.28 $0.00 $1,456.50 $260,374.08
134 $260,374.08 $1,318.28 $0.00 $1,472.19 $263,164.55
135 $263,164.55 $1,318.28 $0.00 $1,487.97 $265,970.80
136 $265,970.80 $1,318.28 $0.00 $1,503.84 $268,792.92
137 $268,792.92 $1,318.28 $0.00 $1,519.79 $271,630.99
138 $271,630.99 $1,318.28 $0.00 $1,535.84 $274,485.11
139 $274,485.11 $1,318.28 $0.00 $1,551.98 $277,355.37
140 $277,355.37 $1,318.28 $0.00 $1,568.21 $280,241.86
141 $280,241.86 $1,318.28 $0.00 $1,584.53 $283,144.67
142 $283,144.67 $1,318.28 $0.00 $1,600.94 $286,063.89
143 $286,063.89 $1,318.28 $0.00 $1,617.45 $288,999.62
144 $288,999.62 $1,318.28 $0.00 $1,634.05 $291,951.95
145 $291,951.95 $1,318.28 $0.00 $1,650.74 $294,920.97
146 $294,920.97 $1,318.28 $0.00 $1,667.53 $297,906.78
147 $297,906.78 $1,318.28 $0.00 $1,684.41 $300,909.47
148 $300,909.47 $1,318.28 $0.00 $1,701.39 $303,929.14
149 $303,929.14 $1,318.28 $0.00 $1,718.46 $306,965.88
150 $306,965.88 $1,318.28 $0.00 $1,735.63 $310,019.79
151 $310,019.79 $1,318.28 $0.00 $1,752.90 $313,090.97
152 $313,090.97 $1,318.28 $0.00 $1,770.26 $316,179.51
153 $316,179.51 $1,318.28 $0.00 $1,787.72 $319,285.51
154 $319,285.51 $1,318.28 $0.00 $1,805.29 $322,409.08
155 $322,409.08 $1,318.28 $0.00 $1,822.95 $325,550.31
156 $325,550.31 $1,318.28 $0.00 $1,840.71 $328,709.30
157 $328,709.30 $1,318.28 $0.00 $1,858.57 $331,886.15
158 $331,886.15 $1,318.28 $0.00 $1,876.53 $335,080.96
159 $335,080.96 $1,318.28 $0.00 $1,894.60 $338,293.84
160 $338,293.84 $1,318.28 $0.00 $1,912.76 $341,524.88
161 $341,524.88 $1,318.28 $0.00 $1,931.03 $344,774.19
162 $344,774.19 $1,318.28 $0.00 $1,949.40 $348,041.87
163 $348,041.87 $1,318.28 $0.00 $1,967.88 $351,328.03
164 $351,328.03 $1,318.28 $0.00 $1,986.46 $354,632.77
165 $354,632.77 $1,318.28 $0.00 $2,005.15 $357,956.20
166 $357,956.20 $1,318.28 $0.00 $2,023.94 $361,298.42
167 $361,298.42 $1,318.28 $0.00 $2,042.83 $364,659.53
168 $364,659.53 $1,318.28 $0.00 $2,061.84 $368,039.65
169 $368,039.65 $1,318.28 $0.00 $2,080.95 $371,438.88
170 $371,438.88 $1,318.28 $0.00 $2,100.17 $374,857.33
171 $374,857.33 $1,318.28 $0.00 $2,119.50 $378,295.11
172 $378,295.11 $1,318.28 $0.00 $2,138.94 $381,752.33
173 $381,752.33 $1,318.28 $0.00 $2,158.48 $385,229.09
174 $385,229.09 $1,318.28 $0.00 $2,178.14 $388,725.51
175 $388,725.51 $1,318.28 $0.00 $2,197.91 $392,241.70
176 $392,241.70 $1,318.28 $0.00 $2,217.79 $395,777.77
177 $395,777.77 $1,318.28 $0.00 $2,237.79 $399,333.84
178 $399,333.84 $1,318.28 $0.00 $2,257.89 $402,910.01
179 $402,910.01 $1,318.28 $0.00 $2,278.11 $406,506.40
180 $406,506.40 $1,318.28 $0.00 $2,298.45 $410,123.13
181 $410,123.13 $1,318.28 $0.00 $2,318.90 $413,760.31
182 $413,760.31 $1,318.28 $0.00 $2,339.46 $417,418.05
183 $417,418.05 $1,318.28 $0.00 $2,360.14 $421,096.47
184 $421,096.47 $1,318.28 $0.00 $2,380.94 $424,795.69
185 $424,795.69 $1,318.28 $0.00 $2,401.86 $428,515.83
186 $428,515.83 $1,318.28 $0.00 $2,422.89 $432,257.00
187 $432,257.00 $1,318.28 $0.00 $2,444.04 $436,019.32
188 $436,019.32 $1,318.28 $0.00 $2,465.32 $439,802.92
189 $439,802.92 $1,318.28 $0.00 $2,486.71 $443,607.91
190 $443,607.91 $1,318.28 $0.00 $2,508.22 $447,434.41
191 $447,434.41 $1,318.28 $0.00 $2,529.86 $451,282.55
192 $451,282.55 $1,318.28 $0.00 $2,551.62 $455,152.45
193 $455,152.45 $1,318.28 $0.00 $2,573.50 $459,044.23
194 $459,044.23 $1,318.28 $0.00 $2,595.50 $462,958.01
195 $462,958.01 $1,318.28 $0.00 $2,617.63 $466,893.92
196 $466,893.92 $1,318.28 $0.00 $2,639.89 $470,852.09
197 $470,852.09 $1,318.28 $0.00 $2,662.27 $474,832.64
198 $474,832.64 $1,318.28 $0.00 $2,684.77 $478,835.69
199 $478,835.69 $1,318.28 $0.00 $2,707.41 $482,861.38
200 $482,861.38 $1,318.28 $0.00 $2,730.17 $486,909.83
201 $486,909.83 $1,318.28 $0.00 $2,753.06 $490,981.17
202 $490,981.17 $1,318.28 $0.00 $2,776.08 $495,075.53
203 $495,075.53 $1,318.28 $0.00 $2,799.23 $499,193.04
204 $499,193.04 $1,318.28 $0.00 $2,822.51 $503,333.83
205 $503,333.83 $1,318.28 $0.00 $2,845.92 $507,498.03
206 $507,498.03 $1,318.28 $0.00 $2,869.47 $511,685.78
207 $511,685.78 $1,318.28 $0.00 $2,893.15 $515,897.21
208 $515,897.21 $1,318.28 $0.00 $2,916.96 $520,132.45
209 $520,132.45 $1,318.28 $0.00 $2,940.90 $524,391.63
210 $524,391.63 $1,318.28 $0.00 $2,964.99 $528,674.90
211 $528,674.90 $1,318.28 $0.00 $2,989.20 $532,982.38
212 $532,982.38 $1,318.28 $0.00 $3,013.56 $537,314.22
213 $537,314.22 $1,318.28 $0.00 $3,038.05 $541,670.55
214 $541,670.55 $1,318.28 $0.00 $3,062.68 $546,051.51
215 $546,051.51 $1,318.28 $0.00 $3,087.45 $550,457.24
216 $550,457.24 $1,318.28 $0.00 $3,112.37 $554,887.89
217 $554,887.89 $1,318.28 $154,553.09 $3,137.42 $404,790.50
218 $404,790.50 $1,318.28 $0.00 $2,288.74 $408,397.52
219 $408,397.52 $1,318.28 $0.00 $2,309.14 $412,024.94
220 $412,024.94 $1,318.28 $0.00 $2,329.65 $415,672.87
221 $415,672.87 $1,318.28 $0.00 $2,350.27 $419,341.42
222 $419,341.42 $1,318.28 $0.00 $2,371.02 $423,030.72
223 $423,030.72 $1,318.28 $0.00 $2,391.88 $426,740.88
224 $426,740.88 $1,318.28 $0.00 $2,412.85 $430,472.01
225 $430,472.01 $1,318.28 $0.00 $2,433.95 $434,224.24
226 $434,224.24 $1,318.28 $0.00 $2,455.17 $437,997.69
227 $437,997.69 $1,318.28 $0.00 $2,476.50 $441,792.47
228 $441,792.47 $1,318.28 $0.00 $2,497.96 $445,608.71
229 $445,608.71 $1,318.28 $162,280.74 $2,519.54 $287,165.79
230 $287,165.79 $1,318.28 $0.00 $1,623.68 $290,107.75
231 $290,107.75 $1,318.28 $0.00 $1,640.31 $293,066.34
232 $293,066.34 $1,318.28 $0.00 $1,657.04 $296,041.66
233 $296,041.66 $1,318.28 $0.00 $1,673.86 $299,033.80
234 $299,033.80 $1,318.28 $0.00 $1,690.78 $302,042.86
235 $302,042.86 $1,318.28 $0.00 $1,707.79 $305,068.93
236 $305,068.93 $1,318.28 $0.00 $1,724.90 $308,112.11
237 $308,112.11 $1,318.28 $0.00 $1,742.11 $311,172.50
238 $311,172.50 $1,318.28 $0.00 $1,759.41 $314,250.19
239 $314,250.19 $1,318.28 $0.00 $1,776.82 $317,345.29
240 $317,345.29 $1,318.28 $0.00 $1,794.32 $320,457.89
241 $320,457.89 $1,318.28 $170,394.78 $1,811.92 $153,193.31
242 $153,193.31 $1,318.28 $0.00 $866.18 $155,377.77
243 $155,377.77 $1,318.28 $0.00 $878.53 $157,574.58
244 $157,574.58 $1,318.28 $0.00 $890.95 $159,783.81
245 $159,783.81 $1,318.28 $0.00 $903.44 $162,005.53
246 $162,005.53 $1,318.28 $0.00 $916.00 $164,239.81
247 $164,239.81 $1,318.28 $0.00 $928.64 $166,486.73
248 $166,486.73 $1,318.28 $0.00 $941.34 $168,746.35
249 $168,746.35 $1,318.28 $0.00 $954.12 $171,018.75
250 $171,018.75 $1,318.28 $0.00 $966.96 $173,303.99
251 $173,303.99 $1,318.28 $0.00 $979.89 $175,602.16
252 $175,602.16 $1,318.28 $0.00 $992.88 $177,913.32
253 $177,913.32 $0.00 $178,914.52 $1,005.95 $4.75