Savings Plan and Future Cost Estimation for Skidmore College

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2040$198,717
Monthly savings required$1,573

How much will it cost to send your child to Skidmore College in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $794,869.94 for students enrolling in 2040 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,573.01 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$76,630.00
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 $1,573.01 $0.00 $0.00 $1,573.01
2 $1,573.01 $1,573.01 $0.00 $8.89 $3,154.91
3 $3,154.91 $1,573.01 $0.00 $17.84 $4,745.76
4 $4,745.76 $1,573.01 $0.00 $26.83 $6,345.60
5 $6,345.60 $1,573.01 $0.00 $35.88 $7,954.49
6 $7,954.49 $1,573.01 $0.00 $44.98 $9,572.48
7 $9,572.48 $1,573.01 $0.00 $54.12 $11,199.61
8 $11,199.61 $1,573.01 $0.00 $63.32 $12,835.94
9 $12,835.94 $1,573.01 $0.00 $72.58 $14,481.53
10 $14,481.53 $1,573.01 $0.00 $81.88 $16,136.42
11 $16,136.42 $1,573.01 $0.00 $91.24 $17,800.67
12 $17,800.67 $1,573.01 $0.00 $100.65 $19,474.33
13 $19,474.33 $1,573.01 $0.00 $110.11 $21,157.45
14 $21,157.45 $1,573.01 $0.00 $119.63 $22,850.09
15 $22,850.09 $1,573.01 $0.00 $129.20 $24,552.30
16 $24,552.30 $1,573.01 $0.00 $138.82 $26,264.13
17 $26,264.13 $1,573.01 $0.00 $148.50 $27,985.64
18 $27,985.64 $1,573.01 $0.00 $158.23 $29,716.88
19 $29,716.88 $1,573.01 $0.00 $168.02 $31,457.91
20 $31,457.91 $1,573.01 $0.00 $177.87 $33,208.79
21 $33,208.79 $1,573.01 $0.00 $187.77 $34,969.57
22 $34,969.57 $1,573.01 $0.00 $197.72 $36,740.30
23 $36,740.30 $1,573.01 $0.00 $207.73 $38,521.04
24 $38,521.04 $1,573.01 $0.00 $217.80 $40,311.85
25 $40,311.85 $1,573.01 $0.00 $227.93 $42,112.79
26 $42,112.79 $1,573.01 $0.00 $238.11 $43,923.91
27 $43,923.91 $1,573.01 $0.00 $248.35 $45,745.27
28 $45,745.27 $1,573.01 $0.00 $258.65 $47,576.93
29 $47,576.93 $1,573.01 $0.00 $269.01 $49,418.95
30 $49,418.95 $1,573.01 $0.00 $279.42 $51,271.38
31 $51,271.38 $1,573.01 $0.00 $289.90 $53,134.29
32 $53,134.29 $1,573.01 $0.00 $300.43 $55,007.73
33 $55,007.73 $1,573.01 $0.00 $311.02 $56,891.76
34 $56,891.76 $1,573.01 $0.00 $321.67 $58,786.44
35 $58,786.44 $1,573.01 $0.00 $332.39 $60,691.84
36 $60,691.84 $1,573.01 $0.00 $343.16 $62,608.01
37 $62,608.01 $1,573.01 $0.00 $353.99 $64,535.01
38 $64,535.01 $1,573.01 $0.00 $364.89 $66,472.91
39 $66,472.91 $1,573.01 $0.00 $375.85 $68,421.77
40 $68,421.77 $1,573.01 $0.00 $386.87 $70,381.65
41 $70,381.65 $1,573.01 $0.00 $397.95 $72,352.61
42 $72,352.61 $1,573.01 $0.00 $409.09 $74,334.71
43 $74,334.71 $1,573.01 $0.00 $420.30 $76,328.02
44 $76,328.02 $1,573.01 $0.00 $431.57 $78,332.60
45 $78,332.60 $1,573.01 $0.00 $442.90 $80,348.51
46 $80,348.51 $1,573.01 $0.00 $454.30 $82,375.82
47 $82,375.82 $1,573.01 $0.00 $465.76 $84,414.59
48 $84,414.59 $1,573.01 $0.00 $477.29 $86,464.89
49 $86,464.89 $1,573.01 $0.00 $488.89 $88,526.79
50 $88,526.79 $1,573.01 $0.00 $500.54 $90,600.34
51 $90,600.34 $1,573.01 $0.00 $512.27 $92,685.62
52 $92,685.62 $1,573.01 $0.00 $524.06 $94,782.69
53 $94,782.69 $1,573.01 $0.00 $535.92 $96,891.62
54 $96,891.62 $1,573.01 $0.00 $547.84 $99,012.47
55 $99,012.47 $1,573.01 $0.00 $559.83 $101,145.31
56 $101,145.31 $1,573.01 $0.00 $571.89 $103,290.21
57 $103,290.21 $1,573.01 $0.00 $584.02 $105,447.24
58 $105,447.24 $1,573.01 $0.00 $596.21 $107,616.46
59 $107,616.46 $1,573.01 $0.00 $608.48 $109,797.95
60 $109,797.95 $1,573.01 $0.00 $620.81 $111,991.77
61 $111,991.77 $1,573.01 $0.00 $633.22 $114,198.00
62 $114,198.00 $1,573.01 $0.00 $645.69 $116,416.70
63 $116,416.70 $1,573.01 $0.00 $658.24 $118,647.95
64 $118,647.95 $1,573.01 $0.00 $670.85 $120,891.81
65 $120,891.81 $1,573.01 $0.00 $683.54 $123,148.36
66 $123,148.36 $1,573.01 $0.00 $696.30 $125,417.67
67 $125,417.67 $1,573.01 $0.00 $709.13 $127,699.81
68 $127,699.81 $1,573.01 $0.00 $722.03 $129,994.85
69 $129,994.85 $1,573.01 $0.00 $735.01 $132,302.87
70 $132,302.87 $1,573.01 $0.00 $748.06 $134,623.94
71 $134,623.94 $1,573.01 $0.00 $761.18 $136,958.13
72 $136,958.13 $1,573.01 $0.00 $774.38 $139,305.52
73 $139,305.52 $1,573.01 $0.00 $787.65 $141,666.18
74 $141,666.18 $1,573.01 $0.00 $801.00 $144,040.19
75 $144,040.19 $1,573.01 $0.00 $814.42 $146,427.62
76 $146,427.62 $1,573.01 $0.00 $827.92 $148,828.55
77 $148,828.55 $1,573.01 $0.00 $841.50 $151,243.06
78 $151,243.06 $1,573.01 $0.00 $855.15 $153,671.22
79 $153,671.22 $1,573.01 $0.00 $868.88 $156,113.11
80 $156,113.11 $1,573.01 $0.00 $882.69 $158,568.81
81 $158,568.81 $1,573.01 $0.00 $896.57 $161,038.39
82 $161,038.39 $1,573.01 $0.00 $910.53 $163,521.93
83 $163,521.93 $1,573.01 $0.00 $924.58 $166,019.52
84 $166,019.52 $1,573.01 $0.00 $938.70 $168,531.23
85 $168,531.23 $1,573.01 $0.00 $952.90 $171,057.14
86 $171,057.14 $1,573.01 $0.00 $967.18 $173,597.33
87 $173,597.33 $1,573.01 $0.00 $981.54 $176,151.88
88 $176,151.88 $1,573.01 $0.00 $995.99 $178,720.88
89 $178,720.88 $1,573.01 $0.00 $1,010.51 $181,304.40
90 $181,304.40 $1,573.01 $0.00 $1,025.12 $183,902.53
91 $183,902.53 $1,573.01 $0.00 $1,039.81 $186,515.35
92 $186,515.35 $1,573.01 $0.00 $1,054.58 $189,142.94
93 $189,142.94 $1,573.01 $0.00 $1,069.44 $191,785.39
94 $191,785.39 $1,573.01 $0.00 $1,084.38 $194,442.78
95 $194,442.78 $1,573.01 $0.00 $1,099.41 $197,115.20
96 $197,115.20 $1,573.01 $0.00 $1,114.52 $199,802.73
97 $199,802.73 $1,573.01 $0.00 $1,129.71 $202,505.45
98 $202,505.45 $1,573.01 $0.00 $1,145.00 $205,223.46
99 $205,223.46 $1,573.01 $0.00 $1,160.36 $207,956.83
100 $207,956.83 $1,573.01 $0.00 $1,175.82 $210,705.66
101 $210,705.66 $1,573.01 $0.00 $1,191.36 $213,470.03
102 $213,470.03 $1,573.01 $0.00 $1,206.99 $216,250.03
103 $216,250.03 $1,573.01 $0.00 $1,222.71 $219,045.75
104 $219,045.75 $1,573.01 $0.00 $1,238.52 $221,857.28
105 $221,857.28 $1,573.01 $0.00 $1,254.41 $224,684.70
106 $224,684.70 $1,573.01 $0.00 $1,270.40 $227,528.11
107 $227,528.11 $1,573.01 $0.00 $1,286.48 $230,387.60
108 $230,387.60 $1,573.01 $0.00 $1,302.64 $233,263.25
109 $233,263.25 $1,573.01 $0.00 $1,318.90 $236,155.16
110 $236,155.16 $1,573.01 $0.00 $1,335.26 $239,063.43
111 $239,063.43 $1,573.01 $0.00 $1,351.70 $241,988.14
112 $241,988.14 $1,573.01 $0.00 $1,368.24 $244,929.39
113 $244,929.39 $1,573.01 $0.00 $1,384.87 $247,887.27
114 $247,887.27 $1,573.01 $0.00 $1,401.59 $250,861.87
115 $250,861.87 $1,573.01 $0.00 $1,418.41 $253,853.29
116 $253,853.29 $1,573.01 $0.00 $1,435.32 $256,861.62
117 $256,861.62 $1,573.01 $0.00 $1,452.33 $259,886.96
118 $259,886.96 $1,573.01 $0.00 $1,469.44 $262,929.41
119 $262,929.41 $1,573.01 $0.00 $1,486.64 $265,989.06
120 $265,989.06 $1,573.01 $0.00 $1,503.94 $269,066.01
121 $269,066.01 $1,573.01 $0.00 $1,521.34 $272,160.36
122 $272,160.36 $1,573.01 $0.00 $1,538.83 $275,272.20
123 $275,272.20 $1,573.01 $0.00 $1,556.43 $278,401.64
124 $278,401.64 $1,573.01 $0.00 $1,574.12 $281,548.77
125 $281,548.77 $1,573.01 $0.00 $1,591.92 $284,713.70
126 $284,713.70 $1,573.01 $0.00 $1,609.81 $287,896.52
127 $287,896.52 $1,573.01 $0.00 $1,627.81 $291,097.34
128 $291,097.34 $1,573.01 $0.00 $1,645.91 $294,316.26
129 $294,316.26 $1,573.01 $0.00 $1,664.11 $297,553.38
130 $297,553.38 $1,573.01 $0.00 $1,682.41 $300,808.80
131 $300,808.80 $1,573.01 $0.00 $1,700.82 $304,082.63
132 $304,082.63 $1,573.01 $0.00 $1,719.33 $307,374.97
133 $307,374.97 $1,573.01 $0.00 $1,737.94 $310,685.92
134 $310,685.92 $1,573.01 $0.00 $1,756.66 $314,015.59
135 $314,015.59 $1,573.01 $0.00 $1,775.49 $317,364.09
136 $317,364.09 $1,573.01 $0.00 $1,794.42 $320,731.52
137 $320,731.52 $1,573.01 $0.00 $1,813.46 $324,117.99
138 $324,117.99 $1,573.01 $0.00 $1,832.61 $327,523.61
139 $327,523.61 $1,573.01 $0.00 $1,851.87 $330,948.49
140 $330,948.49 $1,573.01 $0.00 $1,871.23 $334,392.73
141 $334,392.73 $1,573.01 $0.00 $1,890.71 $337,856.45
142 $337,856.45 $1,573.01 $0.00 $1,910.29 $341,339.75
143 $341,339.75 $1,573.01 $0.00 $1,929.98 $344,842.74
144 $344,842.74 $1,573.01 $0.00 $1,949.79 $348,365.54
145 $348,365.54 $1,573.01 $0.00 $1,969.71 $351,908.26
146 $351,908.26 $1,573.01 $0.00 $1,989.74 $355,471.01
147 $355,471.01 $1,573.01 $0.00 $2,009.88 $359,053.90
148 $359,053.90 $1,573.01 $0.00 $2,030.14 $362,657.05
149 $362,657.05 $1,573.01 $0.00 $2,050.52 $366,280.58
150 $366,280.58 $1,573.01 $0.00 $2,071.00 $369,924.59
151 $369,924.59 $1,573.01 $0.00 $2,091.61 $373,589.21
152 $373,589.21 $1,573.01 $0.00 $2,112.33 $377,274.55
153 $377,274.55 $1,573.01 $0.00 $2,133.17 $380,980.73
154 $380,980.73 $1,573.01 $0.00 $2,154.12 $384,707.86
155 $384,707.86 $1,573.01 $0.00 $2,175.19 $388,456.06
156 $388,456.06 $1,573.01 $0.00 $2,196.39 $392,225.46
157 $392,225.46 $1,573.01 $0.00 $2,217.70 $396,016.17
158 $396,016.17 $1,573.01 $0.00 $2,239.13 $399,828.31
159 $399,828.31 $1,573.01 $0.00 $2,260.69 $403,662.01
160 $403,662.01 $1,573.01 $0.00 $2,282.36 $407,517.38
161 $407,517.38 $1,573.01 $0.00 $2,304.16 $411,394.55
162 $411,394.55 $1,573.01 $0.00 $2,326.08 $415,293.64
163 $415,293.64 $1,573.01 $0.00 $2,348.13 $419,214.78
164 $419,214.78 $1,573.01 $0.00 $2,370.30 $423,158.09
165 $423,158.09 $1,573.01 $0.00 $2,392.60 $427,123.70
166 $427,123.70 $1,573.01 $0.00 $2,415.02 $431,111.73
167 $431,111.73 $1,573.01 $0.00 $2,437.57 $435,122.31
168 $435,122.31 $1,573.01 $0.00 $2,460.24 $439,155.56
169 $439,155.56 $1,573.01 $0.00 $2,483.05 $443,211.62
170 $443,211.62 $1,573.01 $0.00 $2,505.98 $447,290.61
171 $447,290.61 $1,573.01 $0.00 $2,529.05 $451,392.67
172 $451,392.67 $1,573.01 $0.00 $2,552.24 $455,517.92
173 $455,517.92 $1,573.01 $0.00 $2,575.56 $459,666.49
174 $459,666.49 $1,573.01 $0.00 $2,599.02 $463,838.52
175 $463,838.52 $1,573.01 $0.00 $2,622.61 $468,034.14
176 $468,034.14 $1,573.01 $0.00 $2,646.33 $472,253.48
177 $472,253.48 $1,573.01 $0.00 $2,670.19 $476,496.68
178 $476,496.68 $1,573.01 $0.00 $2,694.18 $480,763.87
179 $480,763.87 $1,573.01 $0.00 $2,718.31 $485,055.19
180 $485,055.19 $1,573.01 $0.00 $2,742.57 $489,370.77
181 $489,370.77 $1,573.01 $0.00 $2,766.97 $493,710.75
182 $493,710.75 $1,573.01 $0.00 $2,791.51 $498,075.27
183 $498,075.27 $1,573.01 $0.00 $2,816.19 $502,464.47
184 $502,464.47 $1,573.01 $0.00 $2,841.01 $506,878.49
185 $506,878.49 $1,573.01 $0.00 $2,865.96 $511,317.46
186 $511,317.46 $1,573.01 $0.00 $2,891.06 $515,781.53
187 $515,781.53 $1,573.01 $0.00 $2,916.30 $520,270.84
188 $520,270.84 $1,573.01 $0.00 $2,941.69 $524,785.54
189 $524,785.54 $1,573.01 $0.00 $2,967.21 $529,325.76
190 $529,325.76 $1,573.01 $0.00 $2,992.88 $533,891.65
191 $533,891.65 $1,573.01 $0.00 $3,018.70 $538,483.36
192 $538,483.36 $1,573.01 $0.00 $3,044.66 $543,101.03
193 $543,101.03 $1,573.01 $0.00 $3,070.77 $547,744.81
194 $547,744.81 $1,573.01 $0.00 $3,097.03 $552,414.85
195 $552,414.85 $1,573.01 $0.00 $3,123.43 $557,111.29
196 $557,111.29 $1,573.01 $0.00 $3,149.99 $561,834.29
197 $561,834.29 $1,573.01 $0.00 $3,176.69 $566,583.99
198 $566,583.99 $1,573.01 $0.00 $3,203.55 $571,360.55
199 $571,360.55 $1,573.01 $0.00 $3,230.56 $576,164.12
200 $576,164.12 $1,573.01 $0.00 $3,257.72 $580,994.85
201 $580,994.85 $1,573.01 $0.00 $3,285.03 $585,852.89
202 $585,852.89 $1,573.01 $0.00 $3,312.50 $590,738.40
203 $590,738.40 $1,573.01 $0.00 $3,340.12 $595,651.53
204 $595,651.53 $1,573.01 $0.00 $3,367.90 $600,592.44
205 $600,592.44 $1,573.01 $0.00 $3,395.84 $605,561.29
206 $605,561.29 $1,573.01 $0.00 $3,423.93 $610,558.23
207 $610,558.23 $1,573.01 $0.00 $3,452.18 $615,583.42
208 $615,583.42 $1,573.01 $0.00 $3,480.60 $620,637.03
209 $620,637.03 $1,573.01 $0.00 $3,509.17 $625,719.21
210 $625,719.21 $1,573.01 $0.00 $3,537.91 $630,830.13
211 $630,830.13 $1,573.01 $0.00 $3,566.81 $635,969.95
212 $635,969.95 $1,573.01 $0.00 $3,595.87 $641,138.83
213 $641,138.83 $1,573.01 $0.00 $3,625.09 $646,336.93
214 $646,336.93 $1,573.01 $0.00 $3,654.48 $651,564.42
215 $651,564.42 $1,573.01 $0.00 $3,684.04 $656,821.47
216 $656,821.47 $1,573.01 $0.00 $3,713.76 $662,108.24
217 $662,108.24 $1,573.01 $184,419.23 $3,743.66 $483,005.68
218 $483,005.68 $1,573.01 $0.00 $2,730.98 $487,309.67
219 $487,309.67 $1,573.01 $0.00 $2,755.32 $491,638.00
220 $491,638.00 $1,573.01 $0.00 $2,779.79 $495,990.80
221 $495,990.80 $1,573.01 $0.00 $2,804.40 $500,368.21
222 $500,368.21 $1,573.01 $0.00 $2,829.15 $504,770.37
223 $504,770.37 $1,573.01 $0.00 $2,854.05 $509,197.43
224 $509,197.43 $1,573.01 $0.00 $2,879.08 $513,649.52
225 $513,649.52 $1,573.01 $0.00 $2,904.25 $518,126.78
226 $518,126.78 $1,573.01 $0.00 $2,929.56 $522,629.35
227 $522,629.35 $1,573.01 $0.00 $2,955.02 $527,157.38
228 $527,157.38 $1,573.01 $0.00 $2,980.62 $531,711.01
229 $531,711.01 $1,573.01 $193,640.19 $3,006.37 $342,650.20
230 $342,650.20 $1,573.01 $0.00 $1,937.39 $346,160.60
231 $346,160.60 $1,573.01 $0.00 $1,957.24 $349,690.85
232 $349,690.85 $1,573.01 $0.00 $1,977.20 $353,241.06
233 $353,241.06 $1,573.01 $0.00 $1,997.28 $356,811.35
234 $356,811.35 $1,573.01 $0.00 $2,017.46 $360,401.82
235 $360,401.82 $1,573.01 $0.00 $2,037.76 $364,012.59
236 $364,012.59 $1,573.01 $0.00 $2,058.18 $367,643.78
237 $367,643.78 $1,573.01 $0.00 $2,078.71 $371,295.50
238 $371,295.50 $1,573.01 $0.00 $2,099.36 $374,967.87
239 $374,967.87 $1,573.01 $0.00 $2,120.12 $378,661.00
240 $378,661.00 $1,573.01 $0.00 $2,141.00 $382,375.01
241 $382,375.01 $1,573.01 $203,322.20 $2,162.00 $182,787.82
242 $182,787.82 $1,573.01 $0.00 $1,033.51 $185,394.34
243 $185,394.34 $1,573.01 $0.00 $1,048.25 $188,015.60
244 $188,015.60 $1,573.01 $0.00 $1,063.07 $190,651.68
245 $190,651.68 $1,573.01 $0.00 $1,077.97 $193,302.66
246 $193,302.66 $1,573.01 $0.00 $1,092.96 $195,968.63
247 $195,968.63 $1,573.01 $0.00 $1,108.04 $198,649.68
248 $198,649.68 $1,573.01 $0.00 $1,123.19 $201,345.88
249 $201,345.88 $1,573.01 $0.00 $1,138.44 $204,057.33
250 $204,057.33 $1,573.01 $0.00 $1,153.77 $206,784.11
251 $206,784.11 $1,573.01 $0.00 $1,169.19 $209,526.31
252 $209,526.31 $1,573.01 $0.00 $1,184.69 $212,284.01
253 $212,284.01 $0.00 $213,488.31 $1,200.28 ($4.02)