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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2037$180,098
Monthly savings required$1,426

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 $720,393.02 for students enrolling in 2037 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,425.62 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$69,450.00
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 $1,425.62 $0.00 $0.00 $1,425.62
2 $1,425.62 $1,425.62 $0.00 $8.06 $2,859.30
3 $2,859.30 $1,425.62 $0.00 $16.17 $4,301.09
4 $4,301.09 $1,425.62 $0.00 $24.32 $5,751.03
5 $5,751.03 $1,425.62 $0.00 $32.52 $7,209.17
6 $7,209.17 $1,425.62 $0.00 $40.76 $8,675.55
7 $8,675.55 $1,425.62 $0.00 $49.05 $10,150.22
8 $10,150.22 $1,425.62 $0.00 $57.39 $11,633.23
9 $11,633.23 $1,425.62 $0.00 $65.78 $13,124.63
10 $13,124.63 $1,425.62 $0.00 $74.21 $14,624.46
11 $14,624.46 $1,425.62 $0.00 $82.69 $16,132.77
12 $16,132.77 $1,425.62 $0.00 $91.22 $17,649.61
13 $17,649.61 $1,425.62 $0.00 $99.79 $19,175.02
14 $19,175.02 $1,425.62 $0.00 $108.42 $20,709.06
15 $20,709.06 $1,425.62 $0.00 $117.09 $22,251.77
16 $22,251.77 $1,425.62 $0.00 $125.81 $23,803.20
17 $23,803.20 $1,425.62 $0.00 $134.59 $25,363.41
18 $25,363.41 $1,425.62 $0.00 $143.41 $26,932.44
19 $26,932.44 $1,425.62 $0.00 $152.28 $28,510.34
20 $28,510.34 $1,425.62 $0.00 $161.20 $30,097.16
21 $30,097.16 $1,425.62 $0.00 $170.17 $31,692.95
22 $31,692.95 $1,425.62 $0.00 $179.20 $33,297.77
23 $33,297.77 $1,425.62 $0.00 $188.27 $34,911.66
24 $34,911.66 $1,425.62 $0.00 $197.40 $36,534.68
25 $36,534.68 $1,425.62 $0.00 $206.57 $38,166.87
26 $38,166.87 $1,425.62 $0.00 $215.80 $39,808.29
27 $39,808.29 $1,425.62 $0.00 $225.08 $41,458.99
28 $41,458.99 $1,425.62 $0.00 $234.42 $43,119.03
29 $43,119.03 $1,425.62 $0.00 $243.80 $44,788.45
30 $44,788.45 $1,425.62 $0.00 $253.24 $46,467.31
31 $46,467.31 $1,425.62 $0.00 $262.73 $48,155.66
32 $48,155.66 $1,425.62 $0.00 $272.28 $49,853.56
33 $49,853.56 $1,425.62 $0.00 $281.88 $51,561.06
34 $51,561.06 $1,425.62 $0.00 $291.53 $53,278.21
35 $53,278.21 $1,425.62 $0.00 $301.24 $55,005.07
36 $55,005.07 $1,425.62 $0.00 $311.01 $56,741.70
37 $56,741.70 $1,425.62 $0.00 $320.83 $58,488.15
38 $58,488.15 $1,425.62 $0.00 $330.70 $60,244.47
39 $60,244.47 $1,425.62 $0.00 $340.63 $62,010.72
40 $62,010.72 $1,425.62 $0.00 $350.62 $63,786.96
41 $63,786.96 $1,425.62 $0.00 $360.66 $65,573.24
42 $65,573.24 $1,425.62 $0.00 $370.76 $67,369.62
43 $67,369.62 $1,425.62 $0.00 $380.92 $69,176.16
44 $69,176.16 $1,425.62 $0.00 $391.13 $70,992.91
45 $70,992.91 $1,425.62 $0.00 $401.40 $72,819.93
46 $72,819.93 $1,425.62 $0.00 $411.73 $74,657.28
47 $74,657.28 $1,425.62 $0.00 $422.12 $76,505.02
48 $76,505.02 $1,425.62 $0.00 $432.57 $78,363.21
49 $78,363.21 $1,425.62 $0.00 $443.08 $80,231.91
50 $80,231.91 $1,425.62 $0.00 $453.64 $82,111.17
51 $82,111.17 $1,425.62 $0.00 $464.27 $84,001.06
52 $84,001.06 $1,425.62 $0.00 $474.95 $85,901.63
53 $85,901.63 $1,425.62 $0.00 $485.70 $87,812.95
54 $87,812.95 $1,425.62 $0.00 $496.51 $89,735.08
55 $89,735.08 $1,425.62 $0.00 $507.38 $91,668.08
56 $91,668.08 $1,425.62 $0.00 $518.30 $93,612.00
57 $93,612.00 $1,425.62 $0.00 $529.30 $95,566.92
58 $95,566.92 $1,425.62 $0.00 $540.35 $97,532.89
59 $97,532.89 $1,425.62 $0.00 $551.47 $99,509.98
60 $99,509.98 $1,425.62 $0.00 $562.64 $101,498.24
61 $101,498.24 $1,425.62 $0.00 $573.89 $103,497.75
62 $103,497.75 $1,425.62 $0.00 $585.19 $105,508.56
63 $105,508.56 $1,425.62 $0.00 $596.56 $107,530.74
64 $107,530.74 $1,425.62 $0.00 $607.99 $109,564.35
65 $109,564.35 $1,425.62 $0.00 $619.49 $111,609.46
66 $111,609.46 $1,425.62 $0.00 $631.06 $113,666.14
67 $113,666.14 $1,425.62 $0.00 $642.68 $115,734.44
68 $115,734.44 $1,425.62 $0.00 $654.38 $117,814.44
69 $117,814.44 $1,425.62 $0.00 $666.14 $119,906.20
70 $119,906.20 $1,425.62 $0.00 $677.97 $122,009.79
71 $122,009.79 $1,425.62 $0.00 $689.86 $124,125.27
72 $124,125.27 $1,425.62 $0.00 $701.82 $126,252.71
73 $126,252.71 $1,425.62 $0.00 $713.85 $128,392.18
74 $128,392.18 $1,425.62 $0.00 $725.95 $130,543.75
75 $130,543.75 $1,425.62 $0.00 $738.11 $132,707.48
76 $132,707.48 $1,425.62 $0.00 $750.35 $134,883.45
77 $134,883.45 $1,425.62 $0.00 $762.65 $137,071.72
78 $137,071.72 $1,425.62 $0.00 $775.02 $139,272.36
79 $139,272.36 $1,425.62 $0.00 $787.47 $141,485.45
80 $141,485.45 $1,425.62 $0.00 $799.98 $143,711.05
81 $143,711.05 $1,425.62 $0.00 $812.56 $145,949.23
82 $145,949.23 $1,425.62 $0.00 $825.22 $148,200.07
83 $148,200.07 $1,425.62 $0.00 $837.94 $150,463.63
84 $150,463.63 $1,425.62 $0.00 $850.74 $152,739.99
85 $152,739.99 $1,425.62 $0.00 $863.61 $155,029.22
86 $155,029.22 $1,425.62 $0.00 $876.56 $157,331.40
87 $157,331.40 $1,425.62 $0.00 $889.57 $159,646.59
88 $159,646.59 $1,425.62 $0.00 $902.67 $161,974.88
89 $161,974.88 $1,425.62 $0.00 $915.83 $164,316.33
90 $164,316.33 $1,425.62 $0.00 $929.07 $166,671.02
91 $166,671.02 $1,425.62 $0.00 $942.38 $169,039.02
92 $169,039.02 $1,425.62 $0.00 $955.77 $171,420.41
93 $171,420.41 $1,425.62 $0.00 $969.24 $173,815.27
94 $173,815.27 $1,425.62 $0.00 $982.78 $176,223.67
95 $176,223.67 $1,425.62 $0.00 $996.39 $178,645.68
96 $178,645.68 $1,425.62 $0.00 $1,010.09 $181,081.39
97 $181,081.39 $1,425.62 $0.00 $1,023.86 $183,530.87
98 $183,530.87 $1,425.62 $0.00 $1,037.71 $185,994.20
99 $185,994.20 $1,425.62 $0.00 $1,051.64 $188,471.46
100 $188,471.46 $1,425.62 $0.00 $1,065.65 $190,962.73
101 $190,962.73 $1,425.62 $0.00 $1,079.73 $193,468.08
102 $193,468.08 $1,425.62 $0.00 $1,093.90 $195,987.60
103 $195,987.60 $1,425.62 $0.00 $1,108.14 $198,521.36
104 $198,521.36 $1,425.62 $0.00 $1,122.47 $201,069.45
105 $201,069.45 $1,425.62 $0.00 $1,136.88 $203,631.95
106 $203,631.95 $1,425.62 $0.00 $1,151.36 $206,208.93
107 $206,208.93 $1,425.62 $0.00 $1,165.94 $208,800.49
108 $208,800.49 $1,425.62 $0.00 $1,180.59 $211,406.70
109 $211,406.70 $1,425.62 $0.00 $1,195.32 $214,027.64
110 $214,027.64 $1,425.62 $0.00 $1,210.14 $216,663.40
111 $216,663.40 $1,425.62 $0.00 $1,225.05 $219,314.07
112 $219,314.07 $1,425.62 $0.00 $1,240.03 $221,979.72
113 $221,979.72 $1,425.62 $0.00 $1,255.11 $224,660.45
114 $224,660.45 $1,425.62 $0.00 $1,270.26 $227,356.33
115 $227,356.33 $1,425.62 $0.00 $1,285.51 $230,067.46
116 $230,067.46 $1,425.62 $0.00 $1,300.83 $232,793.91
117 $232,793.91 $1,425.62 $0.00 $1,316.25 $235,535.78
118 $235,535.78 $1,425.62 $0.00 $1,331.75 $238,293.15
119 $238,293.15 $1,425.62 $0.00 $1,347.34 $241,066.11
120 $241,066.11 $1,425.62 $0.00 $1,363.02 $243,854.75
121 $243,854.75 $1,425.62 $0.00 $1,378.79 $246,659.16
122 $246,659.16 $1,425.62 $0.00 $1,394.65 $249,479.43
123 $249,479.43 $1,425.62 $0.00 $1,410.59 $252,315.64
124 $252,315.64 $1,425.62 $0.00 $1,426.63 $255,167.89
125 $255,167.89 $1,425.62 $0.00 $1,442.76 $258,036.27
126 $258,036.27 $1,425.62 $0.00 $1,458.97 $260,920.86
127 $260,920.86 $1,425.62 $0.00 $1,475.28 $263,821.76
128 $263,821.76 $1,425.62 $0.00 $1,491.69 $266,739.07
129 $266,739.07 $1,425.62 $0.00 $1,508.18 $269,672.87
130 $269,672.87 $1,425.62 $0.00 $1,524.77 $272,623.26
131 $272,623.26 $1,425.62 $0.00 $1,541.45 $275,590.33
132 $275,590.33 $1,425.62 $0.00 $1,558.23 $278,574.18
133 $278,574.18 $1,425.62 $0.00 $1,575.10 $281,574.90
134 $281,574.90 $1,425.62 $0.00 $1,592.07 $284,592.59
135 $284,592.59 $1,425.62 $0.00 $1,609.13 $287,627.34
136 $287,627.34 $1,425.62 $0.00 $1,626.29 $290,679.25
137 $290,679.25 $1,425.62 $0.00 $1,643.54 $293,748.41
138 $293,748.41 $1,425.62 $0.00 $1,660.90 $296,834.93
139 $296,834.93 $1,425.62 $0.00 $1,678.35 $299,938.90
140 $299,938.90 $1,425.62 $0.00 $1,695.90 $303,060.42
141 $303,060.42 $1,425.62 $0.00 $1,713.55 $306,199.59
142 $306,199.59 $1,425.62 $0.00 $1,731.30 $309,356.51
143 $309,356.51 $1,425.62 $0.00 $1,749.15 $312,531.28
144 $312,531.28 $1,425.62 $0.00 $1,767.10 $315,724.00
145 $315,724.00 $1,425.62 $0.00 $1,785.15 $318,934.77
146 $318,934.77 $1,425.62 $0.00 $1,803.30 $322,163.69
147 $322,163.69 $1,425.62 $0.00 $1,821.56 $325,410.87
148 $325,410.87 $1,425.62 $0.00 $1,839.92 $328,676.41
149 $328,676.41 $1,425.62 $0.00 $1,858.38 $331,960.41
150 $331,960.41 $1,425.62 $0.00 $1,876.95 $335,262.98
151 $335,262.98 $1,425.62 $0.00 $1,895.63 $338,584.23
152 $338,584.23 $1,425.62 $0.00 $1,914.40 $341,924.25
153 $341,924.25 $1,425.62 $0.00 $1,933.29 $345,283.16
154 $345,283.16 $1,425.62 $0.00 $1,952.28 $348,661.06
155 $348,661.06 $1,425.62 $0.00 $1,971.38 $352,058.06
156 $352,058.06 $1,425.62 $0.00 $1,990.59 $355,474.27
157 $355,474.27 $1,425.62 $0.00 $2,009.90 $358,909.79
158 $358,909.79 $1,425.62 $0.00 $2,029.33 $362,364.74
159 $362,364.74 $1,425.62 $0.00 $2,048.86 $365,839.22
160 $365,839.22 $1,425.62 $0.00 $2,068.51 $369,333.35
161 $369,333.35 $1,425.62 $0.00 $2,088.26 $372,847.23
162 $372,847.23 $1,425.62 $0.00 $2,108.13 $376,380.98
163 $376,380.98 $1,425.62 $0.00 $2,128.11 $379,934.71
164 $379,934.71 $1,425.62 $0.00 $2,148.21 $383,508.54
165 $383,508.54 $1,425.62 $0.00 $2,168.41 $387,102.57
166 $387,102.57 $1,425.62 $0.00 $2,188.73 $390,716.92
167 $390,716.92 $1,425.62 $0.00 $2,209.17 $394,351.71
168 $394,351.71 $1,425.62 $0.00 $2,229.72 $398,007.05
169 $398,007.05 $1,425.62 $0.00 $2,250.39 $401,683.06
170 $401,683.06 $1,425.62 $0.00 $2,271.17 $405,379.85
171 $405,379.85 $1,425.62 $0.00 $2,292.08 $409,097.55
172 $409,097.55 $1,425.62 $0.00 $2,313.10 $412,836.27
173 $412,836.27 $1,425.62 $0.00 $2,334.24 $416,596.13
174 $416,596.13 $1,425.62 $0.00 $2,355.50 $420,377.25
175 $420,377.25 $1,425.62 $0.00 $2,376.87 $424,179.74
176 $424,179.74 $1,425.62 $0.00 $2,398.37 $428,003.73
177 $428,003.73 $1,425.62 $0.00 $2,420.00 $431,849.35
178 $431,849.35 $1,425.62 $0.00 $2,441.74 $435,716.71
179 $435,716.71 $1,425.62 $0.00 $2,463.61 $439,605.94
180 $439,605.94 $1,425.62 $0.00 $2,485.60 $443,517.16
181 $443,517.16 $1,425.62 $0.00 $2,507.71 $447,450.49
182 $447,450.49 $1,425.62 $0.00 $2,529.95 $451,406.06
183 $451,406.06 $1,425.62 $0.00 $2,552.32 $455,384.00
184 $455,384.00 $1,425.62 $0.00 $2,574.81 $459,384.43
185 $459,384.43 $1,425.62 $0.00 $2,597.43 $463,407.48
186 $463,407.48 $1,425.62 $0.00 $2,620.17 $467,453.27
187 $467,453.27 $1,425.62 $0.00 $2,643.05 $471,521.94
188 $471,521.94 $1,425.62 $0.00 $2,666.05 $475,613.61
189 $475,613.61 $1,425.62 $0.00 $2,689.19 $479,728.42
190 $479,728.42 $1,425.62 $0.00 $2,712.45 $483,866.49
191 $483,866.49 $1,425.62 $0.00 $2,735.85 $488,027.96
192 $488,027.96 $1,425.62 $0.00 $2,759.38 $492,212.96
193 $492,212.96 $1,425.62 $0.00 $2,783.04 $496,421.62
194 $496,421.62 $1,425.62 $0.00 $2,806.84 $500,654.08
195 $500,654.08 $1,425.62 $0.00 $2,830.77 $504,910.47
196 $504,910.47 $1,425.62 $0.00 $2,854.84 $509,190.93
197 $509,190.93 $1,425.62 $0.00 $2,879.04 $513,495.59
198 $513,495.59 $1,425.62 $0.00 $2,903.38 $517,824.59
199 $517,824.59 $1,425.62 $0.00 $2,927.86 $522,178.07
200 $522,178.07 $1,425.62 $0.00 $2,952.47 $526,556.16
201 $526,556.16 $1,425.62 $0.00 $2,977.23 $530,959.01
202 $530,959.01 $1,425.62 $0.00 $3,002.12 $535,386.75
203 $535,386.75 $1,425.62 $0.00 $3,027.15 $539,839.52
204 $539,839.52 $1,425.62 $0.00 $3,052.33 $544,317.47
205 $544,317.47 $1,425.62 $0.00 $3,077.65 $548,820.74
206 $548,820.74 $1,425.62 $0.00 $3,103.11 $553,349.47
207 $553,349.47 $1,425.62 $0.00 $3,128.72 $557,903.81
208 $557,903.81 $1,425.62 $0.00 $3,154.47 $562,483.90
209 $562,483.90 $1,425.62 $0.00 $3,180.37 $567,089.89
210 $567,089.89 $1,425.62 $0.00 $3,206.41 $571,721.92
211 $571,721.92 $1,425.62 $0.00 $3,232.60 $576,380.14
212 $576,380.14 $1,425.62 $0.00 $3,258.94 $581,064.70
213 $581,064.70 $1,425.62 $0.00 $3,285.42 $585,775.74
214 $585,775.74 $1,425.62 $0.00 $3,312.06 $590,513.42
215 $590,513.42 $1,425.62 $0.00 $3,338.85 $595,277.89
216 $595,277.89 $1,425.62 $0.00 $3,365.79 $600,069.30
217 $600,069.30 $1,425.62 $167,139.71 $3,392.88 $437,748.09
218 $437,748.09 $1,425.62 $0.00 $2,475.09 $441,648.80
219 $441,648.80 $1,425.62 $0.00 $2,497.15 $445,571.57
220 $445,571.57 $1,425.62 $0.00 $2,519.33 $449,516.52
221 $449,516.52 $1,425.62 $0.00 $2,541.63 $453,483.77
222 $453,483.77 $1,425.62 $0.00 $2,564.06 $457,473.45
223 $457,473.45 $1,425.62 $0.00 $2,586.62 $461,485.69
224 $461,485.69 $1,425.62 $0.00 $2,609.31 $465,520.62
225 $465,520.62 $1,425.62 $0.00 $2,632.12 $469,578.36
226 $469,578.36 $1,425.62 $0.00 $2,655.06 $473,659.04
227 $473,659.04 $1,425.62 $0.00 $2,678.14 $477,762.80
228 $477,762.80 $1,425.62 $0.00 $2,701.34 $481,889.76
229 $481,889.76 $1,425.62 $175,496.69 $2,724.67 $310,543.36
230 $310,543.36 $1,425.62 $0.00 $1,755.86 $313,724.84
231 $313,724.84 $1,425.62 $0.00 $1,773.85 $316,924.31
232 $316,924.31 $1,425.62 $0.00 $1,791.94 $320,141.87
233 $320,141.87 $1,425.62 $0.00 $1,810.13 $323,377.62
234 $323,377.62 $1,425.62 $0.00 $1,828.42 $326,631.66
235 $326,631.66 $1,425.62 $0.00 $1,846.82 $329,904.10
236 $329,904.10 $1,425.62 $0.00 $1,865.33 $333,195.05
237 $333,195.05 $1,425.62 $0.00 $1,883.93 $336,504.60
238 $336,504.60 $1,425.62 $0.00 $1,902.65 $339,832.87
239 $339,832.87 $1,425.62 $0.00 $1,921.46 $343,179.95
240 $343,179.95 $1,425.62 $0.00 $1,940.39 $346,545.96
241 $346,545.96 $1,425.62 $184,271.53 $1,959.42 $165,659.47
242 $165,659.47 $1,425.62 $0.00 $936.66 $168,021.75
243 $168,021.75 $1,425.62 $0.00 $950.02 $170,397.39
244 $170,397.39 $1,425.62 $0.00 $963.45 $172,786.46
245 $172,786.46 $1,425.62 $0.00 $976.96 $175,189.04
246 $175,189.04 $1,425.62 $0.00 $990.54 $177,605.20
247 $177,605.20 $1,425.62 $0.00 $1,004.21 $180,035.03
248 $180,035.03 $1,425.62 $0.00 $1,017.94 $182,478.59
249 $182,478.59 $1,425.62 $0.00 $1,031.76 $184,935.97
250 $184,935.97 $1,425.62 $0.00 $1,045.65 $187,407.24
251 $187,407.24 $1,425.62 $0.00 $1,059.63 $189,892.49
252 $189,892.49 $1,425.62 $0.00 $1,073.68 $192,391.79
253 $192,391.79 $0.00 $193,485.10 $1,087.81 ($5.50)