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Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2038$186,011
Monthly savings required$1,472

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 $744,043.08 for students enrolling in 2038 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,472.43 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$71,730.00
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 $1,472.43 $0.00 $0.00 $1,472.43
2 $1,472.43 $1,472.43 $0.00 $8.33 $2,953.19
3 $2,953.19 $1,472.43 $0.00 $16.70 $4,442.32
4 $4,442.32 $1,472.43 $0.00 $25.12 $5,939.87
5 $5,939.87 $1,472.43 $0.00 $33.58 $7,445.88
6 $7,445.88 $1,472.43 $0.00 $42.10 $8,960.41
7 $8,960.41 $1,472.43 $0.00 $50.66 $10,483.50
8 $10,483.50 $1,472.43 $0.00 $59.28 $12,015.21
9 $12,015.21 $1,472.43 $0.00 $67.94 $13,555.58
10 $13,555.58 $1,472.43 $0.00 $76.65 $15,104.66
11 $15,104.66 $1,472.43 $0.00 $85.40 $16,662.49
12 $16,662.49 $1,472.43 $0.00 $94.21 $18,229.13
13 $18,229.13 $1,472.43 $0.00 $103.07 $19,804.63
14 $19,804.63 $1,472.43 $0.00 $111.98 $21,389.04
15 $21,389.04 $1,472.43 $0.00 $120.94 $22,982.41
16 $22,982.41 $1,472.43 $0.00 $129.95 $24,584.79
17 $24,584.79 $1,472.43 $0.00 $139.01 $26,196.23
18 $26,196.23 $1,472.43 $0.00 $148.12 $27,816.78
19 $27,816.78 $1,472.43 $0.00 $157.28 $29,446.49
20 $29,446.49 $1,472.43 $0.00 $166.49 $31,085.41
21 $31,085.41 $1,472.43 $0.00 $175.76 $32,733.60
22 $32,733.60 $1,472.43 $0.00 $185.08 $34,391.11
23 $34,391.11 $1,472.43 $0.00 $194.45 $36,057.99
24 $36,057.99 $1,472.43 $0.00 $203.88 $37,734.30
25 $37,734.30 $1,472.43 $0.00 $213.36 $39,420.09
26 $39,420.09 $1,472.43 $0.00 $222.89 $41,115.41
27 $41,115.41 $1,472.43 $0.00 $232.47 $42,820.31
28 $42,820.31 $1,472.43 $0.00 $242.11 $44,534.85
29 $44,534.85 $1,472.43 $0.00 $251.81 $46,259.09
30 $46,259.09 $1,472.43 $0.00 $261.56 $47,993.08
31 $47,993.08 $1,472.43 $0.00 $271.36 $49,736.87
32 $49,736.87 $1,472.43 $0.00 $281.22 $51,490.52
33 $51,490.52 $1,472.43 $0.00 $291.13 $53,254.08
34 $53,254.08 $1,472.43 $0.00 $301.11 $55,027.62
35 $55,027.62 $1,472.43 $0.00 $311.13 $56,811.18
36 $56,811.18 $1,472.43 $0.00 $321.22 $58,604.83
37 $58,604.83 $1,472.43 $0.00 $331.36 $60,408.62
38 $60,408.62 $1,472.43 $0.00 $341.56 $62,222.61
39 $62,222.61 $1,472.43 $0.00 $351.82 $64,046.86
40 $64,046.86 $1,472.43 $0.00 $362.13 $65,881.42
41 $65,881.42 $1,472.43 $0.00 $372.50 $67,726.35
42 $67,726.35 $1,472.43 $0.00 $382.93 $69,581.71
43 $69,581.71 $1,472.43 $0.00 $393.43 $71,447.57
44 $71,447.57 $1,472.43 $0.00 $403.97 $73,323.97
45 $73,323.97 $1,472.43 $0.00 $414.58 $75,210.98
46 $75,210.98 $1,472.43 $0.00 $425.25 $77,108.66
47 $77,108.66 $1,472.43 $0.00 $435.98 $79,017.07
48 $79,017.07 $1,472.43 $0.00 $446.77 $80,936.27
49 $80,936.27 $1,472.43 $0.00 $457.63 $82,866.33
50 $82,866.33 $1,472.43 $0.00 $468.54 $84,807.30
51 $84,807.30 $1,472.43 $0.00 $479.51 $86,759.24
52 $86,759.24 $1,472.43 $0.00 $490.55 $88,722.22
53 $88,722.22 $1,472.43 $0.00 $501.65 $90,696.30
54 $90,696.30 $1,472.43 $0.00 $512.81 $92,681.54
55 $92,681.54 $1,472.43 $0.00 $524.03 $94,678.00
56 $94,678.00 $1,472.43 $0.00 $535.32 $96,685.75
57 $96,685.75 $1,472.43 $0.00 $546.68 $98,704.86
58 $98,704.86 $1,472.43 $0.00 $558.09 $100,735.38
59 $100,735.38 $1,472.43 $0.00 $569.57 $102,777.38
60 $102,777.38 $1,472.43 $0.00 $581.12 $104,830.93
61 $104,830.93 $1,472.43 $0.00 $592.73 $106,896.09
62 $106,896.09 $1,472.43 $0.00 $604.41 $108,972.93
63 $108,972.93 $1,472.43 $0.00 $616.15 $111,061.51
64 $111,061.51 $1,472.43 $0.00 $627.96 $113,161.90
65 $113,161.90 $1,472.43 $0.00 $639.83 $115,274.16
66 $115,274.16 $1,472.43 $0.00 $651.78 $117,398.37
67 $117,398.37 $1,472.43 $0.00 $663.79 $119,534.59
68 $119,534.59 $1,472.43 $0.00 $675.87 $121,682.89
69 $121,682.89 $1,472.43 $0.00 $688.01 $123,843.33
70 $123,843.33 $1,472.43 $0.00 $700.23 $126,015.99
71 $126,015.99 $1,472.43 $0.00 $712.51 $128,200.93
72 $128,200.93 $1,472.43 $0.00 $724.87 $130,398.23
73 $130,398.23 $1,472.43 $0.00 $737.29 $132,607.95
74 $132,607.95 $1,472.43 $0.00 $749.78 $134,830.16
75 $134,830.16 $1,472.43 $0.00 $762.35 $137,064.94
76 $137,064.94 $1,472.43 $0.00 $774.99 $139,312.36
77 $139,312.36 $1,472.43 $0.00 $787.69 $141,572.48
78 $141,572.48 $1,472.43 $0.00 $800.47 $143,845.38
79 $143,845.38 $1,472.43 $0.00 $813.32 $146,131.13
80 $146,131.13 $1,472.43 $0.00 $826.25 $148,429.81
81 $148,429.81 $1,472.43 $0.00 $839.24 $150,741.48
82 $150,741.48 $1,472.43 $0.00 $852.31 $153,066.22
83 $153,066.22 $1,472.43 $0.00 $865.46 $155,404.11
84 $155,404.11 $1,472.43 $0.00 $878.68 $157,755.22
85 $157,755.22 $1,472.43 $0.00 $891.97 $160,119.62
86 $160,119.62 $1,472.43 $0.00 $905.34 $162,497.39
87 $162,497.39 $1,472.43 $0.00 $918.78 $164,888.60
88 $164,888.60 $1,472.43 $0.00 $932.30 $167,293.33
89 $167,293.33 $1,472.43 $0.00 $945.90 $169,711.66
90 $169,711.66 $1,472.43 $0.00 $959.57 $172,143.66
91 $172,143.66 $1,472.43 $0.00 $973.33 $174,589.42
92 $174,589.42 $1,472.43 $0.00 $987.15 $177,049.00
93 $177,049.00 $1,472.43 $0.00 $1,001.06 $179,522.49
94 $179,522.49 $1,472.43 $0.00 $1,015.05 $182,009.97
95 $182,009.97 $1,472.43 $0.00 $1,029.11 $184,511.51
96 $184,511.51 $1,472.43 $0.00 $1,043.25 $187,027.19
97 $187,027.19 $1,472.43 $0.00 $1,057.48 $189,557.10
98 $189,557.10 $1,472.43 $0.00 $1,071.78 $192,101.31
99 $192,101.31 $1,472.43 $0.00 $1,086.17 $194,659.91
100 $194,659.91 $1,472.43 $0.00 $1,100.64 $197,232.98
101 $197,232.98 $1,472.43 $0.00 $1,115.18 $199,820.59
102 $199,820.59 $1,472.43 $0.00 $1,129.81 $202,422.83
103 $202,422.83 $1,472.43 $0.00 $1,144.53 $205,039.79
104 $205,039.79 $1,472.43 $0.00 $1,159.32 $207,671.54
105 $207,671.54 $1,472.43 $0.00 $1,174.21 $210,318.18
106 $210,318.18 $1,472.43 $0.00 $1,189.17 $212,979.78
107 $212,979.78 $1,472.43 $0.00 $1,204.22 $215,656.43
108 $215,656.43 $1,472.43 $0.00 $1,219.35 $218,348.21
109 $218,348.21 $1,472.43 $0.00 $1,234.57 $221,055.21
110 $221,055.21 $1,472.43 $0.00 $1,249.88 $223,777.52
111 $223,777.52 $1,472.43 $0.00 $1,265.27 $226,515.22
112 $226,515.22 $1,472.43 $0.00 $1,280.75 $229,268.40
113 $229,268.40 $1,472.43 $0.00 $1,296.32 $232,037.15
114 $232,037.15 $1,472.43 $0.00 $1,311.97 $234,821.55
115 $234,821.55 $1,472.43 $0.00 $1,327.72 $237,621.70
116 $237,621.70 $1,472.43 $0.00 $1,343.55 $240,437.68
117 $240,437.68 $1,472.43 $0.00 $1,359.47 $243,269.58
118 $243,269.58 $1,472.43 $0.00 $1,375.48 $246,117.49
119 $246,117.49 $1,472.43 $0.00 $1,391.58 $248,981.50
120 $248,981.50 $1,472.43 $0.00 $1,407.78 $251,861.71
121 $251,861.71 $1,472.43 $0.00 $1,424.06 $254,758.20
122 $254,758.20 $1,472.43 $0.00 $1,440.44 $257,671.07
123 $257,671.07 $1,472.43 $0.00 $1,456.91 $260,600.41
124 $260,600.41 $1,472.43 $0.00 $1,473.47 $263,546.31
125 $263,546.31 $1,472.43 $0.00 $1,490.13 $266,508.87
126 $266,508.87 $1,472.43 $0.00 $1,506.88 $269,488.18
127 $269,488.18 $1,472.43 $0.00 $1,523.73 $272,484.34
128 $272,484.34 $1,472.43 $0.00 $1,540.67 $275,497.44
129 $275,497.44 $1,472.43 $0.00 $1,557.70 $278,527.57
130 $278,527.57 $1,472.43 $0.00 $1,574.84 $281,574.84
131 $281,574.84 $1,472.43 $0.00 $1,592.07 $284,639.34
132 $284,639.34 $1,472.43 $0.00 $1,609.39 $287,721.16
133 $287,721.16 $1,472.43 $0.00 $1,626.82 $290,820.41
134 $290,820.41 $1,472.43 $0.00 $1,644.34 $293,937.18
135 $293,937.18 $1,472.43 $0.00 $1,661.96 $297,071.57
136 $297,071.57 $1,472.43 $0.00 $1,679.69 $300,223.69
137 $300,223.69 $1,472.43 $0.00 $1,697.51 $303,393.63
138 $303,393.63 $1,472.43 $0.00 $1,715.43 $306,581.49
139 $306,581.49 $1,472.43 $0.00 $1,733.46 $309,787.38
140 $309,787.38 $1,472.43 $0.00 $1,751.58 $313,011.39
141 $313,011.39 $1,472.43 $0.00 $1,769.81 $316,253.63
142 $316,253.63 $1,472.43 $0.00 $1,788.14 $319,514.20
143 $319,514.20 $1,472.43 $0.00 $1,806.58 $322,793.21
144 $322,793.21 $1,472.43 $0.00 $1,825.12 $326,090.76
145 $326,090.76 $1,472.43 $0.00 $1,843.76 $329,406.95
146 $329,406.95 $1,472.43 $0.00 $1,862.51 $332,741.89
147 $332,741.89 $1,472.43 $0.00 $1,881.37 $336,095.69
148 $336,095.69 $1,472.43 $0.00 $1,900.33 $339,468.45
149 $339,468.45 $1,472.43 $0.00 $1,919.40 $342,860.28
150 $342,860.28 $1,472.43 $0.00 $1,938.58 $346,271.29
151 $346,271.29 $1,472.43 $0.00 $1,957.87 $349,701.59
152 $349,701.59 $1,472.43 $0.00 $1,977.26 $353,151.28
153 $353,151.28 $1,472.43 $0.00 $1,996.77 $356,620.48
154 $356,620.48 $1,472.43 $0.00 $2,016.38 $360,109.29
155 $360,109.29 $1,472.43 $0.00 $2,036.11 $363,617.83
156 $363,617.83 $1,472.43 $0.00 $2,055.95 $367,146.21
157 $367,146.21 $1,472.43 $0.00 $2,075.90 $370,694.54
158 $370,694.54 $1,472.43 $0.00 $2,095.96 $374,262.93
159 $374,262.93 $1,472.43 $0.00 $2,116.14 $377,851.50
160 $377,851.50 $1,472.43 $0.00 $2,136.43 $381,460.36
161 $381,460.36 $1,472.43 $0.00 $2,156.83 $385,089.62
162 $385,089.62 $1,472.43 $0.00 $2,177.35 $388,739.40
163 $388,739.40 $1,472.43 $0.00 $2,197.99 $392,409.82
164 $392,409.82 $1,472.43 $0.00 $2,218.74 $396,100.99
165 $396,100.99 $1,472.43 $0.00 $2,239.61 $399,813.03
166 $399,813.03 $1,472.43 $0.00 $2,260.60 $403,546.06
167 $403,546.06 $1,472.43 $0.00 $2,281.71 $407,300.20
168 $407,300.20 $1,472.43 $0.00 $2,302.93 $411,075.56
169 $411,075.56 $1,472.43 $0.00 $2,324.28 $414,872.27
170 $414,872.27 $1,472.43 $0.00 $2,345.75 $418,690.45
171 $418,690.45 $1,472.43 $0.00 $2,367.34 $422,530.22
172 $422,530.22 $1,472.43 $0.00 $2,389.05 $426,391.70
173 $426,391.70 $1,472.43 $0.00 $2,410.88 $430,275.01
174 $430,275.01 $1,472.43 $0.00 $2,432.84 $434,180.28
175 $434,180.28 $1,472.43 $0.00 $2,454.92 $438,107.63
176 $438,107.63 $1,472.43 $0.00 $2,477.12 $442,057.18
177 $442,057.18 $1,472.43 $0.00 $2,499.46 $446,029.07
178 $446,029.07 $1,472.43 $0.00 $2,521.91 $450,023.41
179 $450,023.41 $1,472.43 $0.00 $2,544.50 $454,040.34
180 $454,040.34 $1,472.43 $0.00 $2,567.21 $458,079.98
181 $458,079.98 $1,472.43 $0.00 $2,590.05 $462,142.46
182 $462,142.46 $1,472.43 $0.00 $2,613.02 $466,227.91
183 $466,227.91 $1,472.43 $0.00 $2,636.12 $470,336.46
184 $470,336.46 $1,472.43 $0.00 $2,659.35 $474,468.24
185 $474,468.24 $1,472.43 $0.00 $2,682.71 $478,623.38
186 $478,623.38 $1,472.43 $0.00 $2,706.21 $482,802.02
187 $482,802.02 $1,472.43 $0.00 $2,729.83 $487,004.28
188 $487,004.28 $1,472.43 $0.00 $2,753.59 $491,230.30
189 $491,230.30 $1,472.43 $0.00 $2,777.49 $495,480.22
190 $495,480.22 $1,472.43 $0.00 $2,801.52 $499,754.17
191 $499,754.17 $1,472.43 $0.00 $2,825.68 $504,052.28
192 $504,052.28 $1,472.43 $0.00 $2,849.98 $508,374.69
193 $508,374.69 $1,472.43 $0.00 $2,874.42 $512,721.54
194 $512,721.54 $1,472.43 $0.00 $2,899.00 $517,092.97
195 $517,092.97 $1,472.43 $0.00 $2,923.72 $521,489.12
196 $521,489.12 $1,472.43 $0.00 $2,948.58 $525,910.13
197 $525,910.13 $1,472.43 $0.00 $2,973.57 $530,356.13
198 $530,356.13 $1,472.43 $0.00 $2,998.71 $534,827.27
199 $534,827.27 $1,472.43 $0.00 $3,023.99 $539,323.69
200 $539,323.69 $1,472.43 $0.00 $3,049.41 $543,845.53
201 $543,845.53 $1,472.43 $0.00 $3,074.98 $548,392.94
202 $548,392.94 $1,472.43 $0.00 $3,100.69 $552,966.06
203 $552,966.06 $1,472.43 $0.00 $3,126.55 $557,565.04
204 $557,565.04 $1,472.43 $0.00 $3,152.55 $562,190.02
205 $562,190.02 $1,472.43 $0.00 $3,178.70 $566,841.15
206 $566,841.15 $1,472.43 $0.00 $3,205.00 $571,518.58
207 $571,518.58 $1,472.43 $0.00 $3,231.45 $576,222.46
208 $576,222.46 $1,472.43 $0.00 $3,258.05 $580,952.94
209 $580,952.94 $1,472.43 $0.00 $3,284.79 $585,710.16
210 $585,710.16 $1,472.43 $0.00 $3,311.69 $590,494.28
211 $590,494.28 $1,472.43 $0.00 $3,338.74 $595,305.45
212 $595,305.45 $1,472.43 $0.00 $3,365.94 $600,143.82
213 $600,143.82 $1,472.43 $0.00 $3,393.30 $605,009.55
214 $605,009.55 $1,472.43 $0.00 $3,420.81 $609,902.79
215 $609,902.79 $1,472.43 $0.00 $3,448.48 $614,823.70
216 $614,823.70 $1,472.43 $0.00 $3,476.30 $619,772.43
217 $619,772.43 $1,472.43 $172,626.80 $3,504.28 $452,122.34
218 $452,122.34 $1,472.43 $0.00 $2,556.37 $456,151.14
219 $456,151.14 $1,472.43 $0.00 $2,579.14 $460,202.71
220 $460,202.71 $1,472.43 $0.00 $2,602.05 $464,277.19
221 $464,277.19 $1,472.43 $0.00 $2,625.09 $468,374.71
222 $468,374.71 $1,472.43 $0.00 $2,648.26 $472,495.40
223 $472,495.40 $1,472.43 $0.00 $2,671.56 $476,639.39
224 $476,639.39 $1,472.43 $0.00 $2,694.99 $480,806.81
225 $480,806.81 $1,472.43 $0.00 $2,718.55 $484,997.79
226 $484,997.79 $1,472.43 $0.00 $2,742.25 $489,212.47
227 $489,212.47 $1,472.43 $0.00 $2,766.08 $493,450.98
228 $493,450.98 $1,472.43 $0.00 $2,790.04 $497,713.45
229 $497,713.45 $1,472.43 $181,258.14 $2,814.14 $320,741.88
230 $320,741.88 $1,472.43 $0.00 $1,813.52 $324,027.83
231 $324,027.83 $1,472.43 $0.00 $1,832.10 $327,332.36
232 $327,332.36 $1,472.43 $0.00 $1,850.78 $330,655.57
233 $330,655.57 $1,472.43 $0.00 $1,869.57 $333,997.57
234 $333,997.57 $1,472.43 $0.00 $1,888.47 $337,358.47
235 $337,358.47 $1,472.43 $0.00 $1,907.47 $340,738.37
236 $340,738.37 $1,472.43 $0.00 $1,926.58 $344,137.38
237 $344,137.38 $1,472.43 $0.00 $1,945.80 $347,555.61
238 $347,555.61 $1,472.43 $0.00 $1,965.13 $350,993.17
239 $350,993.17 $1,472.43 $0.00 $1,984.57 $354,450.17
240 $354,450.17 $1,472.43 $0.00 $2,004.11 $357,926.71
241 $357,926.71 $1,472.43 $190,321.04 $2,023.77 $171,101.87
242 $171,101.87 $1,472.43 $0.00 $967.43 $173,541.73
243 $173,541.73 $1,472.43 $0.00 $981.23 $175,995.39
244 $175,995.39 $1,472.43 $0.00 $995.10 $178,462.92
245 $178,462.92 $1,472.43 $0.00 $1,009.06 $180,944.41
246 $180,944.41 $1,472.43 $0.00 $1,023.09 $183,439.93
247 $183,439.93 $1,472.43 $0.00 $1,037.20 $185,949.56
248 $185,949.56 $1,472.43 $0.00 $1,051.39 $188,473.38
249 $188,473.38 $1,472.43 $0.00 $1,065.66 $191,011.47
250 $191,011.47 $1,472.43 $0.00 $1,080.01 $193,563.91
251 $193,563.91 $1,472.43 $0.00 $1,094.44 $196,130.78
252 $196,130.78 $1,472.43 $0.00 $1,108.95 $198,712.16
253 $198,712.16 $0.00 $199,837.10 $1,123.55 ($1.39)