Savings Plan and Future Cost Estimation for The New England Conservatory 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$195,087
Monthly savings required$1,544

How much will it cost to send your child to The New England Conservatory of Music in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $780,347.98 for students enrolling in 2041 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,544.28 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$75,230.00
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 $1,544.28 $0.00 $0.00 $1,544.28
2 $1,544.28 $1,544.28 $0.00 $8.73 $3,097.29
3 $3,097.29 $1,544.28 $0.00 $17.51 $4,659.08
4 $4,659.08 $1,544.28 $0.00 $26.34 $6,229.70
5 $6,229.70 $1,544.28 $0.00 $35.22 $7,809.20
6 $7,809.20 $1,544.28 $0.00 $44.15 $9,397.63
7 $9,397.63 $1,544.28 $0.00 $53.14 $10,995.05
8 $10,995.05 $1,544.28 $0.00 $62.17 $12,601.50
9 $12,601.50 $1,544.28 $0.00 $71.25 $14,217.03
10 $14,217.03 $1,544.28 $0.00 $80.39 $15,841.70
11 $15,841.70 $1,544.28 $0.00 $89.57 $17,475.55
12 $17,475.55 $1,544.28 $0.00 $98.81 $19,118.64
13 $19,118.64 $1,544.28 $0.00 $108.10 $20,771.02
14 $20,771.02 $1,544.28 $0.00 $117.44 $22,432.74
15 $22,432.74 $1,544.28 $0.00 $126.84 $24,103.86
16 $24,103.86 $1,544.28 $0.00 $136.29 $25,784.43
17 $25,784.43 $1,544.28 $0.00 $145.79 $27,474.50
18 $27,474.50 $1,544.28 $0.00 $155.34 $29,174.12
19 $29,174.12 $1,544.28 $0.00 $164.95 $30,883.35
20 $30,883.35 $1,544.28 $0.00 $174.62 $32,602.25
21 $32,602.25 $1,544.28 $0.00 $184.34 $34,330.87
22 $34,330.87 $1,544.28 $0.00 $194.11 $36,069.26
23 $36,069.26 $1,544.28 $0.00 $203.94 $37,817.48
24 $37,817.48 $1,544.28 $0.00 $213.83 $39,575.59
25 $39,575.59 $1,544.28 $0.00 $223.77 $41,343.64
26 $41,343.64 $1,544.28 $0.00 $233.76 $43,121.68
27 $43,121.68 $1,544.28 $0.00 $243.82 $44,909.78
28 $44,909.78 $1,544.28 $0.00 $253.93 $46,707.99
29 $46,707.99 $1,544.28 $0.00 $264.09 $48,516.36
30 $48,516.36 $1,544.28 $0.00 $274.32 $50,334.96
31 $50,334.96 $1,544.28 $0.00 $284.60 $52,163.84
32 $52,163.84 $1,544.28 $0.00 $294.94 $54,003.06
33 $54,003.06 $1,544.28 $0.00 $305.34 $55,852.68
34 $55,852.68 $1,544.28 $0.00 $315.80 $57,712.76
35 $57,712.76 $1,544.28 $0.00 $326.32 $59,583.36
36 $59,583.36 $1,544.28 $0.00 $336.89 $61,464.53
37 $61,464.53 $1,544.28 $0.00 $347.53 $63,356.34
38 $63,356.34 $1,544.28 $0.00 $358.23 $65,258.85
39 $65,258.85 $1,544.28 $0.00 $368.98 $67,172.11
40 $67,172.11 $1,544.28 $0.00 $379.80 $69,096.19
41 $69,096.19 $1,544.28 $0.00 $390.68 $71,031.15
42 $71,031.15 $1,544.28 $0.00 $401.62 $72,977.05
43 $72,977.05 $1,544.28 $0.00 $412.62 $74,933.95
44 $74,933.95 $1,544.28 $0.00 $423.69 $76,901.92
45 $76,901.92 $1,544.28 $0.00 $434.81 $78,881.01
46 $78,881.01 $1,544.28 $0.00 $446.00 $80,871.29
47 $80,871.29 $1,544.28 $0.00 $457.26 $82,872.83
48 $82,872.83 $1,544.28 $0.00 $468.58 $84,885.69
49 $84,885.69 $1,544.28 $0.00 $479.96 $86,909.93
50 $86,909.93 $1,544.28 $0.00 $491.40 $88,945.61
51 $88,945.61 $1,544.28 $0.00 $502.91 $90,992.80
52 $90,992.80 $1,544.28 $0.00 $514.49 $93,051.57
53 $93,051.57 $1,544.28 $0.00 $526.13 $95,121.98
54 $95,121.98 $1,544.28 $0.00 $537.83 $97,204.09
55 $97,204.09 $1,544.28 $0.00 $549.61 $99,297.98
56 $99,297.98 $1,544.28 $0.00 $561.45 $101,403.71
57 $101,403.71 $1,544.28 $0.00 $573.35 $103,521.34
58 $103,521.34 $1,544.28 $0.00 $585.32 $105,650.94
59 $105,650.94 $1,544.28 $0.00 $597.37 $107,792.59
60 $107,792.59 $1,544.28 $0.00 $609.47 $109,946.34
61 $109,946.34 $1,544.28 $0.00 $621.65 $112,112.27
62 $112,112.27 $1,544.28 $0.00 $633.90 $114,290.45
63 $114,290.45 $1,544.28 $0.00 $646.21 $116,480.94
64 $116,480.94 $1,544.28 $0.00 $658.60 $118,683.82
65 $118,683.82 $1,544.28 $0.00 $671.06 $120,899.16
66 $120,899.16 $1,544.28 $0.00 $683.58 $123,127.02
67 $123,127.02 $1,544.28 $0.00 $696.18 $125,367.48
68 $125,367.48 $1,544.28 $0.00 $708.85 $127,620.61
69 $127,620.61 $1,544.28 $0.00 $721.59 $129,886.48
70 $129,886.48 $1,544.28 $0.00 $734.40 $132,165.16
71 $132,165.16 $1,544.28 $0.00 $747.28 $134,456.72
72 $134,456.72 $1,544.28 $0.00 $760.24 $136,761.24
73 $136,761.24 $1,544.28 $0.00 $773.27 $139,078.79
74 $139,078.79 $1,544.28 $0.00 $786.37 $141,409.44
75 $141,409.44 $1,544.28 $0.00 $799.55 $143,753.27
76 $143,753.27 $1,544.28 $0.00 $812.80 $146,110.35
77 $146,110.35 $1,544.28 $0.00 $826.13 $148,480.76
78 $148,480.76 $1,544.28 $0.00 $839.53 $150,864.57
79 $150,864.57 $1,544.28 $0.00 $853.01 $153,261.86
80 $153,261.86 $1,544.28 $0.00 $866.56 $155,672.70
81 $155,672.70 $1,544.28 $0.00 $880.20 $158,097.18
82 $158,097.18 $1,544.28 $0.00 $893.90 $160,535.36
83 $160,535.36 $1,544.28 $0.00 $907.69 $162,987.33
84 $162,987.33 $1,544.28 $0.00 $921.55 $165,453.16
85 $165,453.16 $1,544.28 $0.00 $935.50 $167,932.94
86 $167,932.94 $1,544.28 $0.00 $949.52 $170,426.74
87 $170,426.74 $1,544.28 $0.00 $963.62 $172,934.64
88 $172,934.64 $1,544.28 $0.00 $977.80 $175,456.72
89 $175,456.72 $1,544.28 $0.00 $992.06 $177,993.06
90 $177,993.06 $1,544.28 $0.00 $1,006.40 $180,543.74
91 $180,543.74 $1,544.28 $0.00 $1,020.82 $183,108.84
92 $183,108.84 $1,544.28 $0.00 $1,035.32 $185,688.44
93 $185,688.44 $1,544.28 $0.00 $1,049.91 $188,282.63
94 $188,282.63 $1,544.28 $0.00 $1,064.58 $190,891.49
95 $190,891.49 $1,544.28 $0.00 $1,079.33 $193,515.10
96 $193,515.10 $1,544.28 $0.00 $1,094.16 $196,153.54
97 $196,153.54 $1,544.28 $0.00 $1,109.08 $198,806.90
98 $198,806.90 $1,544.28 $0.00 $1,124.08 $201,475.26
99 $201,475.26 $1,544.28 $0.00 $1,139.17 $204,158.71
100 $204,158.71 $1,544.28 $0.00 $1,154.34 $206,857.33
101 $206,857.33 $1,544.28 $0.00 $1,169.60 $209,571.21
102 $209,571.21 $1,544.28 $0.00 $1,184.95 $212,300.44
103 $212,300.44 $1,544.28 $0.00 $1,200.38 $215,045.10
104 $215,045.10 $1,544.28 $0.00 $1,215.90 $217,805.28
105 $217,805.28 $1,544.28 $0.00 $1,231.50 $220,581.06
106 $220,581.06 $1,544.28 $0.00 $1,247.20 $223,372.54
107 $223,372.54 $1,544.28 $0.00 $1,262.98 $226,179.80
108 $226,179.80 $1,544.28 $0.00 $1,278.85 $229,002.93
109 $229,002.93 $1,544.28 $0.00 $1,294.82 $231,842.03
110 $231,842.03 $1,544.28 $0.00 $1,310.87 $234,697.18
111 $234,697.18 $1,544.28 $0.00 $1,327.01 $237,568.47
112 $237,568.47 $1,544.28 $0.00 $1,343.25 $240,456.00
113 $240,456.00 $1,544.28 $0.00 $1,359.57 $243,359.85
114 $243,359.85 $1,544.28 $0.00 $1,375.99 $246,280.12
115 $246,280.12 $1,544.28 $0.00 $1,392.50 $249,216.90
116 $249,216.90 $1,544.28 $0.00 $1,409.11 $252,170.29
117 $252,170.29 $1,544.28 $0.00 $1,425.81 $255,140.38
118 $255,140.38 $1,544.28 $0.00 $1,442.60 $258,127.26
119 $258,127.26 $1,544.28 $0.00 $1,459.49 $261,131.03
120 $261,131.03 $1,544.28 $0.00 $1,476.47 $264,151.78
121 $264,151.78 $1,544.28 $0.00 $1,493.55 $267,189.61
122 $267,189.61 $1,544.28 $0.00 $1,510.73 $270,244.62
123 $270,244.62 $1,544.28 $0.00 $1,528.00 $273,316.90
124 $273,316.90 $1,544.28 $0.00 $1,545.37 $276,406.55
125 $276,406.55 $1,544.28 $0.00 $1,562.84 $279,513.67
126 $279,513.67 $1,544.28 $0.00 $1,580.41 $282,638.36
127 $282,638.36 $1,544.28 $0.00 $1,598.08 $285,780.72
128 $285,780.72 $1,544.28 $0.00 $1,615.85 $288,940.85
129 $288,940.85 $1,544.28 $0.00 $1,633.71 $292,118.84
130 $292,118.84 $1,544.28 $0.00 $1,651.68 $295,314.80
131 $295,314.80 $1,544.28 $0.00 $1,669.75 $298,528.83
132 $298,528.83 $1,544.28 $0.00 $1,687.93 $301,761.04
133 $301,761.04 $1,544.28 $0.00 $1,706.20 $305,011.52
134 $305,011.52 $1,544.28 $0.00 $1,724.58 $308,280.38
135 $308,280.38 $1,544.28 $0.00 $1,743.06 $311,567.72
136 $311,567.72 $1,544.28 $0.00 $1,761.65 $314,873.65
137 $314,873.65 $1,544.28 $0.00 $1,780.34 $318,198.27
138 $318,198.27 $1,544.28 $0.00 $1,799.14 $321,541.69
139 $321,541.69 $1,544.28 $0.00 $1,818.04 $324,904.01
140 $324,904.01 $1,544.28 $0.00 $1,837.05 $328,285.34
141 $328,285.34 $1,544.28 $0.00 $1,856.17 $331,685.79
142 $331,685.79 $1,544.28 $0.00 $1,875.40 $335,105.47
143 $335,105.47 $1,544.28 $0.00 $1,894.74 $338,544.49
144 $338,544.49 $1,544.28 $0.00 $1,914.18 $342,002.95
145 $342,002.95 $1,544.28 $0.00 $1,933.73 $345,480.96
146 $345,480.96 $1,544.28 $0.00 $1,953.40 $348,978.64
147 $348,978.64 $1,544.28 $0.00 $1,973.18 $352,496.10
148 $352,496.10 $1,544.28 $0.00 $1,993.06 $356,033.44
149 $356,033.44 $1,544.28 $0.00 $2,013.06 $359,590.78
150 $359,590.78 $1,544.28 $0.00 $2,033.18 $363,168.24
151 $363,168.24 $1,544.28 $0.00 $2,053.41 $366,765.93
152 $366,765.93 $1,544.28 $0.00 $2,073.75 $370,383.96
153 $370,383.96 $1,544.28 $0.00 $2,094.20 $374,022.44
154 $374,022.44 $1,544.28 $0.00 $2,114.78 $377,681.50
155 $377,681.50 $1,544.28 $0.00 $2,135.47 $381,361.25
156 $381,361.25 $1,544.28 $0.00 $2,156.27 $385,061.80
157 $385,061.80 $1,544.28 $0.00 $2,177.20 $388,783.28
158 $388,783.28 $1,544.28 $0.00 $2,198.24 $392,525.80
159 $392,525.80 $1,544.28 $0.00 $2,219.40 $396,289.48
160 $396,289.48 $1,544.28 $0.00 $2,240.68 $400,074.44
161 $400,074.44 $1,544.28 $0.00 $2,262.08 $403,880.80
162 $403,880.80 $1,544.28 $0.00 $2,283.60 $407,708.68
163 $407,708.68 $1,544.28 $0.00 $2,305.24 $411,558.20
164 $411,558.20 $1,544.28 $0.00 $2,327.01 $415,429.49
165 $415,429.49 $1,544.28 $0.00 $2,348.90 $419,322.67
166 $419,322.67 $1,544.28 $0.00 $2,370.91 $423,237.86
167 $423,237.86 $1,544.28 $0.00 $2,393.05 $427,175.19
168 $427,175.19 $1,544.28 $0.00 $2,415.31 $431,134.78
169 $431,134.78 $1,544.28 $0.00 $2,437.70 $435,116.76
170 $435,116.76 $1,544.28 $0.00 $2,460.21 $439,121.25
171 $439,121.25 $1,544.28 $0.00 $2,482.86 $443,148.39
172 $443,148.39 $1,544.28 $0.00 $2,505.63 $447,198.30
173 $447,198.30 $1,544.28 $0.00 $2,528.52 $451,271.10
174 $451,271.10 $1,544.28 $0.00 $2,551.55 $455,366.93
175 $455,366.93 $1,544.28 $0.00 $2,574.71 $459,485.92
176 $459,485.92 $1,544.28 $0.00 $2,598.00 $463,628.20
177 $463,628.20 $1,544.28 $0.00 $2,621.42 $467,793.90
178 $467,793.90 $1,544.28 $0.00 $2,644.97 $471,983.15
179 $471,983.15 $1,544.28 $0.00 $2,668.66 $476,196.09
180 $476,196.09 $1,544.28 $0.00 $2,692.48 $480,432.85
181 $480,432.85 $1,544.28 $0.00 $2,716.44 $484,693.57
182 $484,693.57 $1,544.28 $0.00 $2,740.53 $488,978.38
183 $488,978.38 $1,544.28 $0.00 $2,764.75 $493,287.41
184 $493,287.41 $1,544.28 $0.00 $2,789.12 $497,620.81
185 $497,620.81 $1,544.28 $0.00 $2,813.62 $501,978.71
186 $501,978.71 $1,544.28 $0.00 $2,838.26 $506,361.25
187 $506,361.25 $1,544.28 $0.00 $2,863.04 $510,768.57
188 $510,768.57 $1,544.28 $0.00 $2,887.96 $515,200.81
189 $515,200.81 $1,544.28 $0.00 $2,913.02 $519,658.11
190 $519,658.11 $1,544.28 $0.00 $2,938.22 $524,140.61
191 $524,140.61 $1,544.28 $0.00 $2,963.57 $528,648.46
192 $528,648.46 $1,544.28 $0.00 $2,989.06 $533,181.80
193 $533,181.80 $1,544.28 $0.00 $3,014.69 $537,740.77
194 $537,740.77 $1,544.28 $0.00 $3,040.46 $542,325.51
195 $542,325.51 $1,544.28 $0.00 $3,066.39 $546,936.18
196 $546,936.18 $1,544.28 $0.00 $3,092.46 $551,572.92
197 $551,572.92 $1,544.28 $0.00 $3,118.67 $556,235.87
198 $556,235.87 $1,544.28 $0.00 $3,145.04 $560,925.19
199 $560,925.19 $1,544.28 $0.00 $3,171.55 $565,641.02
200 $565,641.02 $1,544.28 $0.00 $3,198.22 $570,383.52
201 $570,383.52 $1,544.28 $0.00 $3,225.03 $575,152.83
202 $575,152.83 $1,544.28 $0.00 $3,252.00 $579,949.11
203 $579,949.11 $1,544.28 $0.00 $3,279.12 $584,772.51
204 $584,772.51 $1,544.28 $0.00 $3,306.39 $589,623.18
205 $589,623.18 $1,544.28 $0.00 $3,333.82 $594,501.28
206 $594,501.28 $1,544.28 $0.00 $3,361.40 $599,406.96
207 $599,406.96 $1,544.28 $0.00 $3,389.13 $604,340.37
208 $604,340.37 $1,544.28 $0.00 $3,417.03 $609,301.68
209 $609,301.68 $1,544.28 $0.00 $3,445.08 $614,291.04
210 $614,291.04 $1,544.28 $0.00 $3,473.29 $619,308.61
211 $619,308.61 $1,544.28 $0.00 $3,501.66 $624,354.55
212 $624,354.55 $1,544.28 $0.00 $3,530.19 $629,429.02
213 $629,429.02 $1,544.28 $0.00 $3,558.88 $634,532.18
214 $634,532.18 $1,544.28 $0.00 $3,587.74 $639,664.20
215 $639,664.20 $1,544.28 $0.00 $3,616.75 $644,825.23
216 $644,825.23 $1,544.28 $0.00 $3,645.94 $650,015.45
217 $650,015.45 $1,544.28 $181,049.96 $3,675.28 $474,185.05
218 $474,185.05 $1,544.28 $0.00 $2,681.11 $478,410.44
219 $478,410.44 $1,544.28 $0.00 $2,705.00 $482,659.72
220 $482,659.72 $1,544.28 $0.00 $2,729.03 $486,933.03
221 $486,933.03 $1,544.28 $0.00 $2,753.19 $491,230.50
222 $491,230.50 $1,544.28 $0.00 $2,777.49 $495,552.27
223 $495,552.27 $1,544.28 $0.00 $2,801.92 $499,898.47
224 $499,898.47 $1,544.28 $0.00 $2,826.50 $504,269.25
225 $504,269.25 $1,544.28 $0.00 $2,851.21 $508,664.74
226 $508,664.74 $1,544.28 $0.00 $2,876.06 $513,085.08
227 $513,085.08 $1,544.28 $0.00 $2,901.06 $517,530.42
228 $517,530.42 $1,544.28 $0.00 $2,926.19 $522,000.89
229 $522,000.89 $1,544.28 $190,102.46 $2,951.47 $336,394.18
230 $336,394.18 $1,544.28 $0.00 $1,902.02 $339,840.48
231 $339,840.48 $1,544.28 $0.00 $1,921.51 $343,306.27
232 $343,306.27 $1,544.28 $0.00 $1,941.10 $346,791.65
233 $346,791.65 $1,544.28 $0.00 $1,960.81 $350,296.74
234 $350,296.74 $1,544.28 $0.00 $1,980.63 $353,821.65
235 $353,821.65 $1,544.28 $0.00 $2,000.56 $357,366.49
236 $357,366.49 $1,544.28 $0.00 $2,020.60 $360,931.37
237 $360,931.37 $1,544.28 $0.00 $2,040.76 $364,516.41
238 $364,516.41 $1,544.28 $0.00 $2,061.03 $368,121.72
239 $368,121.72 $1,544.28 $0.00 $2,081.41 $371,747.41
240 $371,747.41 $1,544.28 $0.00 $2,101.91 $375,393.60
241 $375,393.60 $1,544.28 $199,607.59 $2,122.53 $179,452.82
242 $179,452.82 $1,544.28 $0.00 $1,014.65 $182,011.75
243 $182,011.75 $1,544.28 $0.00 $1,029.12 $184,585.15
244 $184,585.15 $1,544.28 $0.00 $1,043.67 $187,173.10
245 $187,173.10 $1,544.28 $0.00 $1,058.30 $189,775.68
246 $189,775.68 $1,544.28 $0.00 $1,073.02 $192,392.98
247 $192,392.98 $1,544.28 $0.00 $1,087.82 $195,025.08
248 $195,025.08 $1,544.28 $0.00 $1,102.70 $197,672.06
249 $197,672.06 $1,544.28 $0.00 $1,117.67 $200,334.01
250 $200,334.01 $1,544.28 $0.00 $1,132.72 $203,011.01
251 $203,011.01 $1,544.28 $0.00 $1,147.85 $205,703.14
252 $205,703.14 $1,544.28 $0.00 $1,163.08 $208,410.50
253 $208,410.50 $0.00 $209,587.97 $1,178.38 $0.91