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 2042$307,225
Monthly savings required$2,428

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 $1,228,899.21 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $2,428.08 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$81,890.00
Years until enrollment18
Annual Tuition Increase7%
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 $2,428.08 $0.00 $0.00 $2,428.08
2 $2,428.08 $2,428.08 $0.00 $13.73 $4,869.89
3 $4,869.89 $2,428.08 $0.00 $27.54 $7,325.51
4 $7,325.51 $2,428.08 $0.00 $41.42 $9,795.01
5 $9,795.01 $2,428.08 $0.00 $55.38 $12,278.47
6 $12,278.47 $2,428.08 $0.00 $69.42 $14,775.97
7 $14,775.97 $2,428.08 $0.00 $83.55 $17,287.60
8 $17,287.60 $2,428.08 $0.00 $97.75 $19,813.43
9 $19,813.43 $2,428.08 $0.00 $112.03 $22,353.54
10 $22,353.54 $2,428.08 $0.00 $126.39 $24,908.01
11 $24,908.01 $2,428.08 $0.00 $140.83 $27,476.92
12 $27,476.92 $2,428.08 $0.00 $155.36 $30,060.36
13 $30,060.36 $2,428.08 $0.00 $169.97 $32,658.41
14 $32,658.41 $2,428.08 $0.00 $184.66 $35,271.15
15 $35,271.15 $2,428.08 $0.00 $199.43 $37,898.66
16 $37,898.66 $2,428.08 $0.00 $214.28 $40,541.02
17 $40,541.02 $2,428.08 $0.00 $229.22 $43,198.32
18 $43,198.32 $2,428.08 $0.00 $244.25 $45,870.65
19 $45,870.65 $2,428.08 $0.00 $259.36 $48,558.09
20 $48,558.09 $2,428.08 $0.00 $274.55 $51,260.72
21 $51,260.72 $2,428.08 $0.00 $289.84 $53,978.64
22 $53,978.64 $2,428.08 $0.00 $305.20 $56,711.92
23 $56,711.92 $2,428.08 $0.00 $320.66 $59,460.66
24 $59,460.66 $2,428.08 $0.00 $336.20 $62,224.94
25 $62,224.94 $2,428.08 $0.00 $351.83 $65,004.85
26 $65,004.85 $2,428.08 $0.00 $367.55 $67,800.48
27 $67,800.48 $2,428.08 $0.00 $383.35 $70,611.91
28 $70,611.91 $2,428.08 $0.00 $399.25 $73,439.24
29 $73,439.24 $2,428.08 $0.00 $415.24 $76,282.56
30 $76,282.56 $2,428.08 $0.00 $431.31 $79,141.95
31 $79,141.95 $2,428.08 $0.00 $447.48 $82,017.51
32 $82,017.51 $2,428.08 $0.00 $463.74 $84,909.33
33 $84,909.33 $2,428.08 $0.00 $480.09 $87,817.50
34 $87,817.50 $2,428.08 $0.00 $496.53 $90,742.11
35 $90,742.11 $2,428.08 $0.00 $513.07 $93,683.26
36 $93,683.26 $2,428.08 $0.00 $529.70 $96,641.04
37 $96,641.04 $2,428.08 $0.00 $546.42 $99,615.54
38 $99,615.54 $2,428.08 $0.00 $563.24 $102,606.86
39 $102,606.86 $2,428.08 $0.00 $580.15 $105,615.09
40 $105,615.09 $2,428.08 $0.00 $597.16 $108,640.33
41 $108,640.33 $2,428.08 $0.00 $614.27 $111,682.68
42 $111,682.68 $2,428.08 $0.00 $631.47 $114,742.23
43 $114,742.23 $2,428.08 $0.00 $648.77 $117,819.08
44 $117,819.08 $2,428.08 $0.00 $666.17 $120,913.33
45 $120,913.33 $2,428.08 $0.00 $683.66 $124,025.07
46 $124,025.07 $2,428.08 $0.00 $701.26 $127,154.41
47 $127,154.41 $2,428.08 $0.00 $718.95 $130,301.44
48 $130,301.44 $2,428.08 $0.00 $736.74 $133,466.26
49 $133,466.26 $2,428.08 $0.00 $754.64 $136,648.98
50 $136,648.98 $2,428.08 $0.00 $772.63 $139,849.69
51 $139,849.69 $2,428.08 $0.00 $790.73 $143,068.50
52 $143,068.50 $2,428.08 $0.00 $808.93 $146,305.51
53 $146,305.51 $2,428.08 $0.00 $827.23 $149,560.82
54 $149,560.82 $2,428.08 $0.00 $845.64 $152,834.54
55 $152,834.54 $2,428.08 $0.00 $864.15 $156,126.77
56 $156,126.77 $2,428.08 $0.00 $882.76 $159,437.61
57 $159,437.61 $2,428.08 $0.00 $901.48 $162,767.17
58 $162,767.17 $2,428.08 $0.00 $920.31 $166,115.56
59 $166,115.56 $2,428.08 $0.00 $939.24 $169,482.88
60 $169,482.88 $2,428.08 $0.00 $958.28 $172,869.24
61 $172,869.24 $2,428.08 $0.00 $977.43 $176,274.75
62 $176,274.75 $2,428.08 $0.00 $996.68 $179,699.51
63 $179,699.51 $2,428.08 $0.00 $1,016.05 $183,143.64
64 $183,143.64 $2,428.08 $0.00 $1,035.52 $186,607.24
65 $186,607.24 $2,428.08 $0.00 $1,055.10 $190,090.42
66 $190,090.42 $2,428.08 $0.00 $1,074.80 $193,593.30
67 $193,593.30 $2,428.08 $0.00 $1,094.60 $197,115.98
68 $197,115.98 $2,428.08 $0.00 $1,114.52 $200,658.58
69 $200,658.58 $2,428.08 $0.00 $1,134.55 $204,221.21
70 $204,221.21 $2,428.08 $0.00 $1,154.70 $207,803.99
71 $207,803.99 $2,428.08 $0.00 $1,174.95 $211,407.02
72 $211,407.02 $2,428.08 $0.00 $1,195.33 $215,030.43
73 $215,030.43 $2,428.08 $0.00 $1,215.81 $218,674.32
74 $218,674.32 $2,428.08 $0.00 $1,236.42 $222,338.82
75 $222,338.82 $2,428.08 $0.00 $1,257.14 $226,024.04
76 $226,024.04 $2,428.08 $0.00 $1,277.97 $229,730.09
77 $229,730.09 $2,428.08 $0.00 $1,298.93 $233,457.10
78 $233,457.10 $2,428.08 $0.00 $1,320.00 $237,205.18
79 $237,205.18 $2,428.08 $0.00 $1,341.19 $240,974.45
80 $240,974.45 $2,428.08 $0.00 $1,362.50 $244,765.03
81 $244,765.03 $2,428.08 $0.00 $1,383.94 $248,577.05
82 $248,577.05 $2,428.08 $0.00 $1,405.49 $252,410.62
83 $252,410.62 $2,428.08 $0.00 $1,427.17 $256,265.87
84 $256,265.87 $2,428.08 $0.00 $1,448.96 $260,142.91
85 $260,142.91 $2,428.08 $0.00 $1,470.89 $264,041.88
86 $264,041.88 $2,428.08 $0.00 $1,492.93 $267,962.89
87 $267,962.89 $2,428.08 $0.00 $1,515.10 $271,906.07
88 $271,906.07 $2,428.08 $0.00 $1,537.40 $275,871.55
89 $275,871.55 $2,428.08 $0.00 $1,559.82 $279,859.45
90 $279,859.45 $2,428.08 $0.00 $1,582.37 $283,869.90
91 $283,869.90 $2,428.08 $0.00 $1,605.04 $287,903.02
92 $287,903.02 $2,428.08 $0.00 $1,627.85 $291,958.95
93 $291,958.95 $2,428.08 $0.00 $1,650.78 $296,037.81
94 $296,037.81 $2,428.08 $0.00 $1,673.84 $300,139.73
95 $300,139.73 $2,428.08 $0.00 $1,697.03 $304,264.84
96 $304,264.84 $2,428.08 $0.00 $1,720.36 $308,413.28
97 $308,413.28 $2,428.08 $0.00 $1,743.81 $312,585.17
98 $312,585.17 $2,428.08 $0.00 $1,767.40 $316,780.65
99 $316,780.65 $2,428.08 $0.00 $1,791.12 $320,999.85
100 $320,999.85 $2,428.08 $0.00 $1,814.98 $325,242.91
101 $325,242.91 $2,428.08 $0.00 $1,838.97 $329,509.96
102 $329,509.96 $2,428.08 $0.00 $1,863.10 $333,801.14
103 $333,801.14 $2,428.08 $0.00 $1,887.36 $338,116.58
104 $338,116.58 $2,428.08 $0.00 $1,911.76 $342,456.42
105 $342,456.42 $2,428.08 $0.00 $1,936.30 $346,820.80
106 $346,820.80 $2,428.08 $0.00 $1,960.98 $351,209.86
107 $351,209.86 $2,428.08 $0.00 $1,985.79 $355,623.73
108 $355,623.73 $2,428.08 $0.00 $2,010.75 $360,062.56
109 $360,062.56 $2,428.08 $0.00 $2,035.85 $364,526.49
110 $364,526.49 $2,428.08 $0.00 $2,061.09 $369,015.66
111 $369,015.66 $2,428.08 $0.00 $2,086.47 $373,530.21
112 $373,530.21 $2,428.08 $0.00 $2,111.99 $378,070.28
113 $378,070.28 $2,428.08 $0.00 $2,137.66 $382,636.02
114 $382,636.02 $2,428.08 $0.00 $2,163.48 $387,227.58
115 $387,227.58 $2,428.08 $0.00 $2,189.44 $391,845.10
116 $391,845.10 $2,428.08 $0.00 $2,215.55 $396,488.73
117 $396,488.73 $2,428.08 $0.00 $2,241.80 $401,158.61
118 $401,158.61 $2,428.08 $0.00 $2,268.21 $405,854.90
119 $405,854.90 $2,428.08 $0.00 $2,294.76 $410,577.74
120 $410,577.74 $2,428.08 $0.00 $2,321.47 $415,327.29
121 $415,327.29 $2,428.08 $0.00 $2,348.32 $420,103.69
122 $420,103.69 $2,428.08 $0.00 $2,375.33 $424,907.10
123 $424,907.10 $2,428.08 $0.00 $2,402.49 $429,737.67
124 $429,737.67 $2,428.08 $0.00 $2,429.80 $434,595.55
125 $434,595.55 $2,428.08 $0.00 $2,457.27 $439,480.90
126 $439,480.90 $2,428.08 $0.00 $2,484.89 $444,393.87
127 $444,393.87 $2,428.08 $0.00 $2,512.67 $449,334.62
128 $449,334.62 $2,428.08 $0.00 $2,540.60 $454,303.30
129 $454,303.30 $2,428.08 $0.00 $2,568.70 $459,300.08
130 $459,300.08 $2,428.08 $0.00 $2,596.95 $464,325.11
131 $464,325.11 $2,428.08 $0.00 $2,625.36 $469,378.55
132 $469,378.55 $2,428.08 $0.00 $2,653.93 $474,460.56
133 $474,460.56 $2,428.08 $0.00 $2,682.67 $479,571.31
134 $479,571.31 $2,428.08 $0.00 $2,711.57 $484,710.96
135 $484,710.96 $2,428.08 $0.00 $2,740.63 $489,879.67
136 $489,879.67 $2,428.08 $0.00 $2,769.85 $495,077.60
137 $495,077.60 $2,428.08 $0.00 $2,799.24 $500,304.92
138 $500,304.92 $2,428.08 $0.00 $2,828.80 $505,561.80
139 $505,561.80 $2,428.08 $0.00 $2,858.52 $510,848.40
140 $510,848.40 $2,428.08 $0.00 $2,888.41 $516,164.89
141 $516,164.89 $2,428.08 $0.00 $2,918.47 $521,511.44
142 $521,511.44 $2,428.08 $0.00 $2,948.70 $526,888.22
143 $526,888.22 $2,428.08 $0.00 $2,979.10 $532,295.40
144 $532,295.40 $2,428.08 $0.00 $3,009.68 $537,733.16
145 $537,733.16 $2,428.08 $0.00 $3,040.42 $543,201.66
146 $543,201.66 $2,428.08 $0.00 $3,071.34 $548,701.08
147 $548,701.08 $2,428.08 $0.00 $3,102.44 $554,231.60
148 $554,231.60 $2,428.08 $0.00 $3,133.71 $559,793.39
149 $559,793.39 $2,428.08 $0.00 $3,165.15 $565,386.62
150 $565,386.62 $2,428.08 $0.00 $3,196.78 $571,011.48
151 $571,011.48 $2,428.08 $0.00 $3,228.58 $576,668.14
152 $576,668.14 $2,428.08 $0.00 $3,260.57 $582,356.79
153 $582,356.79 $2,428.08 $0.00 $3,292.73 $588,077.60
154 $588,077.60 $2,428.08 $0.00 $3,325.08 $593,830.76
155 $593,830.76 $2,428.08 $0.00 $3,357.61 $599,616.45
156 $599,616.45 $2,428.08 $0.00 $3,390.32 $605,434.85
157 $605,434.85 $2,428.08 $0.00 $3,423.22 $611,286.15
158 $611,286.15 $2,428.08 $0.00 $3,456.30 $617,170.53
159 $617,170.53 $2,428.08 $0.00 $3,489.57 $623,088.18
160 $623,088.18 $2,428.08 $0.00 $3,523.03 $629,039.29
161 $629,039.29 $2,428.08 $0.00 $3,556.68 $635,024.05
162 $635,024.05 $2,428.08 $0.00 $3,590.52 $641,042.65
163 $641,042.65 $2,428.08 $0.00 $3,624.55 $647,095.28
164 $647,095.28 $2,428.08 $0.00 $3,658.77 $653,182.13
165 $653,182.13 $2,428.08 $0.00 $3,693.19 $659,303.40
166 $659,303.40 $2,428.08 $0.00 $3,727.80 $665,459.28
167 $665,459.28 $2,428.08 $0.00 $3,762.60 $671,649.96
168 $671,649.96 $2,428.08 $0.00 $3,797.61 $677,875.65
169 $677,875.65 $2,428.08 $0.00 $3,832.81 $684,136.54
170 $684,136.54 $2,428.08 $0.00 $3,868.21 $690,432.83
171 $690,432.83 $2,428.08 $0.00 $3,903.81 $696,764.72
172 $696,764.72 $2,428.08 $0.00 $3,939.61 $703,132.41
173 $703,132.41 $2,428.08 $0.00 $3,975.61 $709,536.10
174 $709,536.10 $2,428.08 $0.00 $4,011.82 $715,976.00
175 $715,976.00 $2,428.08 $0.00 $4,048.23 $722,452.31
176 $722,452.31 $2,428.08 $0.00 $4,084.85 $728,965.24
177 $728,965.24 $2,428.08 $0.00 $4,121.68 $735,515.00
178 $735,515.00 $2,428.08 $0.00 $4,158.71 $742,101.79
179 $742,101.79 $2,428.08 $0.00 $4,195.95 $748,725.82
180 $748,725.82 $2,428.08 $0.00 $4,233.40 $755,387.30
181 $755,387.30 $2,428.08 $0.00 $4,271.07 $762,086.45
182 $762,086.45 $2,428.08 $0.00 $4,308.95 $768,823.48
183 $768,823.48 $2,428.08 $0.00 $4,347.04 $775,598.60
184 $775,598.60 $2,428.08 $0.00 $4,385.35 $782,412.03
185 $782,412.03 $2,428.08 $0.00 $4,423.87 $789,263.98
186 $789,263.98 $2,428.08 $0.00 $4,462.61 $796,154.67
187 $796,154.67 $2,428.08 $0.00 $4,501.57 $803,084.32
188 $803,084.32 $2,428.08 $0.00 $4,540.76 $810,053.16
189 $810,053.16 $2,428.08 $0.00 $4,580.16 $817,061.40
190 $817,061.40 $2,428.08 $0.00 $4,619.78 $824,109.26
191 $824,109.26 $2,428.08 $0.00 $4,659.63 $831,196.97
192 $831,196.97 $2,428.08 $0.00 $4,699.71 $838,324.76
193 $838,324.76 $2,428.08 $0.00 $4,740.01 $845,492.85
194 $845,492.85 $2,428.08 $0.00 $4,780.54 $852,701.47
195 $852,701.47 $2,428.08 $0.00 $4,821.30 $859,950.85
196 $859,950.85 $2,428.08 $0.00 $4,862.29 $867,241.22
197 $867,241.22 $2,428.08 $0.00 $4,903.51 $874,572.81
198 $874,572.81 $2,428.08 $0.00 $4,944.96 $881,945.85
199 $881,945.85 $2,428.08 $0.00 $4,986.65 $889,360.58
200 $889,360.58 $2,428.08 $0.00 $5,028.57 $896,817.23
201 $896,817.23 $2,428.08 $0.00 $5,070.74 $904,316.05
202 $904,316.05 $2,428.08 $0.00 $5,113.13 $911,857.26
203 $911,857.26 $2,428.08 $0.00 $5,155.77 $919,441.11
204 $919,441.11 $2,428.08 $0.00 $5,198.65 $927,067.84
205 $927,067.84 $2,428.08 $0.00 $5,241.78 $934,737.70
206 $934,737.70 $2,428.08 $0.00 $5,285.14 $942,450.92
207 $942,450.92 $2,428.08 $0.00 $5,328.75 $950,207.75
208 $950,207.75 $2,428.08 $0.00 $5,372.61 $958,008.44
209 $958,008.44 $2,428.08 $0.00 $5,416.72 $965,853.24
210 $965,853.24 $2,428.08 $0.00 $5,461.07 $973,742.39
211 $973,742.39 $2,428.08 $0.00 $5,505.68 $981,676.15
212 $981,676.15 $2,428.08 $0.00 $5,550.54 $989,654.77
213 $989,654.77 $2,428.08 $0.00 $5,595.65 $997,678.50
214 $997,678.50 $2,428.08 $0.00 $5,641.02 $1,005,747.60
215 $1,005,747.60 $2,428.08 $0.00 $5,686.64 $1,013,862.32
216 $1,013,862.32 $2,428.08 $0.00 $5,732.52 $1,022,022.92
217 $1,022,022.92 $2,428.08 $276,782.65 $5,778.67 $753,447.02
218 $753,447.02 $2,428.08 $0.00 $4,260.10 $760,135.20
219 $760,135.20 $2,428.08 $0.00 $4,297.91 $766,861.19
220 $766,861.19 $2,428.08 $0.00 $4,335.94 $773,625.21
221 $773,625.21 $2,428.08 $0.00 $4,374.19 $780,427.48
222 $780,427.48 $2,428.08 $0.00 $4,412.65 $787,268.21
223 $787,268.21 $2,428.08 $0.00 $4,451.33 $794,147.62
224 $794,147.62 $2,428.08 $0.00 $4,490.23 $801,065.93
225 $801,065.93 $2,428.08 $0.00 $4,529.34 $808,023.35
226 $808,023.35 $2,428.08 $0.00 $4,568.68 $815,020.11
227 $815,020.11 $2,428.08 $0.00 $4,608.24 $822,056.43
228 $822,056.43 $2,428.08 $0.00 $4,648.03 $829,132.54
229 $829,132.54 $2,428.08 $296,157.44 $4,688.04 $540,091.22
230 $540,091.22 $2,428.08 $0.00 $3,053.75 $545,573.05
231 $545,573.05 $2,428.08 $0.00 $3,084.75 $551,085.88
232 $551,085.88 $2,428.08 $0.00 $3,115.92 $556,629.88
233 $556,629.88 $2,428.08 $0.00 $3,147.27 $562,205.23
234 $562,205.23 $2,428.08 $0.00 $3,178.79 $567,812.10
235 $567,812.10 $2,428.08 $0.00 $3,210.49 $573,450.67
236 $573,450.67 $2,428.08 $0.00 $3,242.37 $579,121.12
237 $579,121.12 $2,428.08 $0.00 $3,274.44 $584,823.64
238 $584,823.64 $2,428.08 $0.00 $3,306.68 $590,558.40
239 $590,558.40 $2,428.08 $0.00 $3,339.10 $596,325.58
240 $596,325.58 $2,428.08 $0.00 $3,371.71 $602,125.37
241 $602,125.37 $2,428.08 $316,888.46 $3,404.50 $291,069.49
242 $291,069.49 $2,428.08 $0.00 $1,645.75 $295,143.32
243 $295,143.32 $2,428.08 $0.00 $1,668.78 $299,240.18
244 $299,240.18 $2,428.08 $0.00 $1,691.95 $303,360.21
245 $303,360.21 $2,428.08 $0.00 $1,715.24 $307,503.53
246 $307,503.53 $2,428.08 $0.00 $1,738.67 $311,670.28
247 $311,670.28 $2,428.08 $0.00 $1,762.23 $315,860.59
248 $315,860.59 $2,428.08 $0.00 $1,785.92 $320,074.59
249 $320,074.59 $2,428.08 $0.00 $1,809.75 $324,312.42
250 $324,312.42 $2,428.08 $0.00 $1,833.71 $328,574.21
251 $328,574.21 $2,428.08 $0.00 $1,857.81 $332,860.10
252 $332,860.10 $2,428.08 $0.00 $1,882.04 $337,170.22
253 $337,170.22 $0.00 $339,070.65 $1,906.41 $5.98