Savings Plan and Future Cost Estimation for Cleveland Institute of Art

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2041$162,088
Monthly savings required$1,283

How much will it cost to send your child to Cleveland Institute of Art in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $648,353.72 for students enrolling in 2041 if tuition increases average 5% per year until then.   Assuming you have no current college savings, monthly deposits of $1,283.07 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$62,505.00
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 $1,283.07 $0.00 $0.00 $1,283.07
2 $1,283.07 $1,283.07 $0.00 $7.25 $2,573.39
3 $2,573.39 $1,283.07 $0.00 $14.55 $3,871.01
4 $3,871.01 $1,283.07 $0.00 $21.89 $5,175.97
5 $5,175.97 $1,283.07 $0.00 $29.27 $6,488.31
6 $6,488.31 $1,283.07 $0.00 $36.69 $7,808.07
7 $7,808.07 $1,283.07 $0.00 $44.15 $9,135.29
8 $9,135.29 $1,283.07 $0.00 $51.65 $10,470.01
9 $10,470.01 $1,283.07 $0.00 $59.20 $11,812.28
10 $11,812.28 $1,283.07 $0.00 $66.79 $13,162.14
11 $13,162.14 $1,283.07 $0.00 $74.42 $14,519.63
12 $14,519.63 $1,283.07 $0.00 $82.10 $15,884.80
13 $15,884.80 $1,283.07 $0.00 $89.81 $17,257.68
14 $17,257.68 $1,283.07 $0.00 $97.58 $18,638.33
15 $18,638.33 $1,283.07 $0.00 $105.38 $20,026.78
16 $20,026.78 $1,283.07 $0.00 $113.23 $21,423.08
17 $21,423.08 $1,283.07 $0.00 $121.13 $22,827.28
18 $22,827.28 $1,283.07 $0.00 $129.07 $24,239.42
19 $24,239.42 $1,283.07 $0.00 $137.05 $25,659.54
20 $25,659.54 $1,283.07 $0.00 $145.08 $27,087.69
21 $27,087.69 $1,283.07 $0.00 $153.16 $28,523.92
22 $28,523.92 $1,283.07 $0.00 $161.28 $29,968.27
23 $29,968.27 $1,283.07 $0.00 $169.44 $31,420.78
24 $31,420.78 $1,283.07 $0.00 $177.66 $32,881.51
25 $32,881.51 $1,283.07 $0.00 $185.92 $34,350.50
26 $34,350.50 $1,283.07 $0.00 $194.22 $35,827.79
27 $35,827.79 $1,283.07 $0.00 $202.58 $37,313.44
28 $37,313.44 $1,283.07 $0.00 $210.98 $38,807.49
29 $38,807.49 $1,283.07 $0.00 $219.42 $40,309.98
30 $40,309.98 $1,283.07 $0.00 $227.92 $41,820.97
31 $41,820.97 $1,283.07 $0.00 $236.46 $43,340.50
32 $43,340.50 $1,283.07 $0.00 $245.05 $44,868.62
33 $44,868.62 $1,283.07 $0.00 $253.69 $46,405.38
34 $46,405.38 $1,283.07 $0.00 $262.38 $47,950.83
35 $47,950.83 $1,283.07 $0.00 $271.12 $49,505.02
36 $49,505.02 $1,283.07 $0.00 $279.91 $51,068.00
37 $51,068.00 $1,283.07 $0.00 $288.75 $52,639.82
38 $52,639.82 $1,283.07 $0.00 $297.63 $54,220.52
39 $54,220.52 $1,283.07 $0.00 $306.57 $55,810.16
40 $55,810.16 $1,283.07 $0.00 $315.56 $57,408.79
41 $57,408.79 $1,283.07 $0.00 $324.60 $59,016.46
42 $59,016.46 $1,283.07 $0.00 $333.69 $60,633.22
43 $60,633.22 $1,283.07 $0.00 $342.83 $62,259.12
44 $62,259.12 $1,283.07 $0.00 $352.02 $63,894.21
45 $63,894.21 $1,283.07 $0.00 $361.27 $65,538.55
46 $65,538.55 $1,283.07 $0.00 $370.56 $67,192.18
47 $67,192.18 $1,283.07 $0.00 $379.91 $68,855.16
48 $68,855.16 $1,283.07 $0.00 $389.32 $70,527.55
49 $70,527.55 $1,283.07 $0.00 $398.77 $72,209.39
50 $72,209.39 $1,283.07 $0.00 $408.28 $73,900.74
51 $73,900.74 $1,283.07 $0.00 $417.85 $75,601.66
52 $75,601.66 $1,283.07 $0.00 $427.46 $77,312.19
53 $77,312.19 $1,283.07 $0.00 $437.13 $79,032.39
54 $79,032.39 $1,283.07 $0.00 $446.86 $80,762.32
55 $80,762.32 $1,283.07 $0.00 $456.64 $82,502.03
56 $82,502.03 $1,283.07 $0.00 $466.48 $84,251.58
57 $84,251.58 $1,283.07 $0.00 $476.37 $86,011.02
58 $86,011.02 $1,283.07 $0.00 $486.32 $87,780.41
59 $87,780.41 $1,283.07 $0.00 $496.32 $89,559.80
60 $89,559.80 $1,283.07 $0.00 $506.38 $91,349.25
61 $91,349.25 $1,283.07 $0.00 $516.50 $93,148.82
62 $93,148.82 $1,283.07 $0.00 $526.68 $94,958.57
63 $94,958.57 $1,283.07 $0.00 $536.91 $96,778.55
64 $96,778.55 $1,283.07 $0.00 $547.20 $98,608.82
65 $98,608.82 $1,283.07 $0.00 $557.55 $100,449.44
66 $100,449.44 $1,283.07 $0.00 $567.96 $102,300.47
67 $102,300.47 $1,283.07 $0.00 $578.42 $104,161.96
68 $104,161.96 $1,283.07 $0.00 $588.95 $106,033.98
69 $106,033.98 $1,283.07 $0.00 $599.53 $107,916.58
70 $107,916.58 $1,283.07 $0.00 $610.18 $109,809.83
71 $109,809.83 $1,283.07 $0.00 $620.88 $111,713.78
72 $111,713.78 $1,283.07 $0.00 $631.65 $113,628.50
73 $113,628.50 $1,283.07 $0.00 $642.47 $115,554.04
74 $115,554.04 $1,283.07 $0.00 $653.36 $117,490.47
75 $117,490.47 $1,283.07 $0.00 $664.31 $119,437.85
76 $119,437.85 $1,283.07 $0.00 $675.32 $121,396.24
77 $121,396.24 $1,283.07 $0.00 $686.39 $123,365.70
78 $123,365.70 $1,283.07 $0.00 $697.53 $125,346.30
79 $125,346.30 $1,283.07 $0.00 $708.73 $127,338.10
80 $127,338.10 $1,283.07 $0.00 $719.99 $129,341.16
81 $129,341.16 $1,283.07 $0.00 $731.31 $131,355.54
82 $131,355.54 $1,283.07 $0.00 $742.70 $133,381.31
83 $133,381.31 $1,283.07 $0.00 $754.16 $135,418.54
84 $135,418.54 $1,283.07 $0.00 $765.68 $137,467.29
85 $137,467.29 $1,283.07 $0.00 $777.26 $139,527.62
86 $139,527.62 $1,283.07 $0.00 $788.91 $141,599.60
87 $141,599.60 $1,283.07 $0.00 $800.62 $143,683.29
88 $143,683.29 $1,283.07 $0.00 $812.41 $145,778.77
89 $145,778.77 $1,283.07 $0.00 $824.25 $147,886.09
90 $147,886.09 $1,283.07 $0.00 $836.17 $150,005.33
91 $150,005.33 $1,283.07 $0.00 $848.15 $152,136.55
92 $152,136.55 $1,283.07 $0.00 $860.20 $154,279.82
93 $154,279.82 $1,283.07 $0.00 $872.32 $156,435.21
94 $156,435.21 $1,283.07 $0.00 $884.51 $158,602.79
95 $158,602.79 $1,283.07 $0.00 $896.76 $160,782.62
96 $160,782.62 $1,283.07 $0.00 $909.09 $162,974.78
97 $162,974.78 $1,283.07 $0.00 $921.48 $165,179.33
98 $165,179.33 $1,283.07 $0.00 $933.95 $167,396.35
99 $167,396.35 $1,283.07 $0.00 $946.48 $169,625.90
100 $169,625.90 $1,283.07 $0.00 $959.09 $171,868.06
101 $171,868.06 $1,283.07 $0.00 $971.77 $174,122.90
102 $174,122.90 $1,283.07 $0.00 $984.52 $176,390.49
103 $176,390.49 $1,283.07 $0.00 $997.34 $178,670.90
104 $178,670.90 $1,283.07 $0.00 $1,010.23 $180,964.20
105 $180,964.20 $1,283.07 $0.00 $1,023.20 $183,270.47
106 $183,270.47 $1,283.07 $0.00 $1,036.24 $185,589.78
107 $185,589.78 $1,283.07 $0.00 $1,049.35 $187,922.20
108 $187,922.20 $1,283.07 $0.00 $1,062.54 $190,267.81
109 $190,267.81 $1,283.07 $0.00 $1,075.80 $192,626.68
110 $192,626.68 $1,283.07 $0.00 $1,089.14 $194,998.89
111 $194,998.89 $1,283.07 $0.00 $1,102.55 $197,384.51
112 $197,384.51 $1,283.07 $0.00 $1,116.04 $199,783.62
113 $199,783.62 $1,283.07 $0.00 $1,129.61 $202,196.30
114 $202,196.30 $1,283.07 $0.00 $1,143.25 $204,622.62
115 $204,622.62 $1,283.07 $0.00 $1,156.97 $207,062.66
116 $207,062.66 $1,283.07 $0.00 $1,170.76 $209,516.49
117 $209,516.49 $1,283.07 $0.00 $1,184.64 $211,984.20
118 $211,984.20 $1,283.07 $0.00 $1,198.59 $214,465.86
119 $214,465.86 $1,283.07 $0.00 $1,212.62 $216,961.55
120 $216,961.55 $1,283.07 $0.00 $1,226.73 $219,471.35
121 $219,471.35 $1,283.07 $0.00 $1,240.92 $221,995.34
122 $221,995.34 $1,283.07 $0.00 $1,255.19 $224,533.60
123 $224,533.60 $1,283.07 $0.00 $1,269.55 $227,086.22
124 $227,086.22 $1,283.07 $0.00 $1,283.98 $229,653.27
125 $229,653.27 $1,283.07 $0.00 $1,298.49 $232,234.83
126 $232,234.83 $1,283.07 $0.00 $1,313.09 $234,830.99
127 $234,830.99 $1,283.07 $0.00 $1,327.77 $237,441.83
128 $237,441.83 $1,283.07 $0.00 $1,342.53 $240,067.43
129 $240,067.43 $1,283.07 $0.00 $1,357.38 $242,707.88
130 $242,707.88 $1,283.07 $0.00 $1,372.31 $245,363.26
131 $245,363.26 $1,283.07 $0.00 $1,387.32 $248,033.65
132 $248,033.65 $1,283.07 $0.00 $1,402.42 $250,719.14
133 $250,719.14 $1,283.07 $0.00 $1,417.60 $253,419.81
134 $253,419.81 $1,283.07 $0.00 $1,432.87 $256,135.75
135 $256,135.75 $1,283.07 $0.00 $1,448.23 $258,867.05
136 $258,867.05 $1,283.07 $0.00 $1,463.67 $261,613.79
137 $261,613.79 $1,283.07 $0.00 $1,479.20 $264,376.06
138 $264,376.06 $1,283.07 $0.00 $1,494.82 $267,153.95
139 $267,153.95 $1,283.07 $0.00 $1,510.53 $269,947.55
140 $269,947.55 $1,283.07 $0.00 $1,526.32 $272,756.94
141 $272,756.94 $1,283.07 $0.00 $1,542.21 $275,582.22
142 $275,582.22 $1,283.07 $0.00 $1,558.18 $278,423.47
143 $278,423.47 $1,283.07 $0.00 $1,574.25 $281,280.79
144 $281,280.79 $1,283.07 $0.00 $1,590.40 $284,154.26
145 $284,154.26 $1,283.07 $0.00 $1,606.65 $287,043.98
146 $287,043.98 $1,283.07 $0.00 $1,622.99 $289,950.04
147 $289,950.04 $1,283.07 $0.00 $1,639.42 $292,872.53
148 $292,872.53 $1,283.07 $0.00 $1,655.94 $295,811.54
149 $295,811.54 $1,283.07 $0.00 $1,672.56 $298,767.17
150 $298,767.17 $1,283.07 $0.00 $1,689.27 $301,739.51
151 $301,739.51 $1,283.07 $0.00 $1,706.08 $304,728.66
152 $304,728.66 $1,283.07 $0.00 $1,722.98 $307,734.71
153 $307,734.71 $1,283.07 $0.00 $1,739.98 $310,757.76
154 $310,757.76 $1,283.07 $0.00 $1,757.07 $313,797.90
155 $313,797.90 $1,283.07 $0.00 $1,774.26 $316,855.23
156 $316,855.23 $1,283.07 $0.00 $1,791.55 $319,929.85
157 $319,929.85 $1,283.07 $0.00 $1,808.93 $323,021.85
158 $323,021.85 $1,283.07 $0.00 $1,826.41 $326,131.33
159 $326,131.33 $1,283.07 $0.00 $1,843.99 $329,258.39
160 $329,258.39 $1,283.07 $0.00 $1,861.67 $332,403.13
161 $332,403.13 $1,283.07 $0.00 $1,879.46 $335,565.66
162 $335,565.66 $1,283.07 $0.00 $1,897.34 $338,746.07
163 $338,746.07 $1,283.07 $0.00 $1,915.32 $341,944.46
164 $341,944.46 $1,283.07 $0.00 $1,933.40 $345,160.93
165 $345,160.93 $1,283.07 $0.00 $1,951.59 $348,395.59
166 $348,395.59 $1,283.07 $0.00 $1,969.88 $351,648.54
167 $351,648.54 $1,283.07 $0.00 $1,988.27 $354,919.88
168 $354,919.88 $1,283.07 $0.00 $2,006.77 $358,209.72
169 $358,209.72 $1,283.07 $0.00 $2,025.37 $361,518.16
170 $361,518.16 $1,283.07 $0.00 $2,044.08 $364,845.31
171 $364,845.31 $1,283.07 $0.00 $2,062.89 $368,191.27
172 $368,191.27 $1,283.07 $0.00 $2,081.81 $371,556.15
173 $371,556.15 $1,283.07 $0.00 $2,100.83 $374,940.05
174 $374,940.05 $1,283.07 $0.00 $2,119.97 $378,343.09
175 $378,343.09 $1,283.07 $0.00 $2,139.21 $381,765.37
176 $381,765.37 $1,283.07 $0.00 $2,158.56 $385,207.00
177 $385,207.00 $1,283.07 $0.00 $2,178.02 $388,668.09
178 $388,668.09 $1,283.07 $0.00 $2,197.59 $392,148.75
179 $392,148.75 $1,283.07 $0.00 $2,217.27 $395,649.09
180 $395,649.09 $1,283.07 $0.00 $2,237.06 $399,169.22
181 $399,169.22 $1,283.07 $0.00 $2,256.96 $402,709.25
182 $402,709.25 $1,283.07 $0.00 $2,276.98 $406,269.30
183 $406,269.30 $1,283.07 $0.00 $2,297.11 $409,849.48
184 $409,849.48 $1,283.07 $0.00 $2,317.35 $413,449.90
185 $413,449.90 $1,283.07 $0.00 $2,337.71 $417,070.68
186 $417,070.68 $1,283.07 $0.00 $2,358.18 $420,711.93
187 $420,711.93 $1,283.07 $0.00 $2,378.77 $424,373.77
188 $424,373.77 $1,283.07 $0.00 $2,399.47 $428,056.31
189 $428,056.31 $1,283.07 $0.00 $2,420.29 $431,759.67
190 $431,759.67 $1,283.07 $0.00 $2,441.23 $435,483.97
191 $435,483.97 $1,283.07 $0.00 $2,462.29 $439,229.33
192 $439,229.33 $1,283.07 $0.00 $2,483.47 $442,995.87
193 $442,995.87 $1,283.07 $0.00 $2,504.76 $446,783.70
194 $446,783.70 $1,283.07 $0.00 $2,526.18 $450,592.95
195 $450,592.95 $1,283.07 $0.00 $2,547.72 $454,423.74
196 $454,423.74 $1,283.07 $0.00 $2,569.38 $458,276.19
197 $458,276.19 $1,283.07 $0.00 $2,591.16 $462,150.42
198 $462,150.42 $1,283.07 $0.00 $2,613.07 $466,046.56
199 $466,046.56 $1,283.07 $0.00 $2,635.10 $469,964.73
200 $469,964.73 $1,283.07 $0.00 $2,657.25 $473,905.05
201 $473,905.05 $1,283.07 $0.00 $2,679.53 $477,867.65
202 $477,867.65 $1,283.07 $0.00 $2,701.93 $481,852.65
203 $481,852.65 $1,283.07 $0.00 $2,724.46 $485,860.18
204 $485,860.18 $1,283.07 $0.00 $2,747.12 $489,890.37
205 $489,890.37 $1,283.07 $0.00 $2,769.91 $493,943.35
206 $493,943.35 $1,283.07 $0.00 $2,792.83 $498,019.25
207 $498,019.25 $1,283.07 $0.00 $2,815.87 $502,118.19
208 $502,118.19 $1,283.07 $0.00 $2,839.05 $506,240.31
209 $506,240.31 $1,283.07 $0.00 $2,862.36 $510,385.74
210 $510,385.74 $1,283.07 $0.00 $2,885.80 $514,554.61
211 $514,554.61 $1,283.07 $0.00 $2,909.37 $518,747.05
212 $518,747.05 $1,283.07 $0.00 $2,933.07 $522,963.19
213 $522,963.19 $1,283.07 $0.00 $2,956.91 $527,203.17
214 $527,203.17 $1,283.07 $0.00 $2,980.88 $531,467.12
215 $531,467.12 $1,283.07 $0.00 $3,004.99 $535,755.18
216 $535,755.18 $1,283.07 $0.00 $3,029.24 $540,067.49
217 $540,067.49 $1,283.07 $150,425.74 $3,053.62 $393,978.44
218 $393,978.44 $1,283.07 $0.00 $2,227.61 $397,489.12
219 $397,489.12 $1,283.07 $0.00 $2,247.46 $401,019.65
220 $401,019.65 $1,283.07 $0.00 $2,267.42 $404,570.14
221 $404,570.14 $1,283.07 $0.00 $2,287.50 $408,140.71
222 $408,140.71 $1,283.07 $0.00 $2,307.69 $411,731.47
223 $411,731.47 $1,283.07 $0.00 $2,327.99 $415,342.53
224 $415,342.53 $1,283.07 $0.00 $2,348.41 $418,974.01
225 $418,974.01 $1,283.07 $0.00 $2,368.94 $422,626.02
226 $422,626.02 $1,283.07 $0.00 $2,389.59 $426,298.68
227 $426,298.68 $1,283.07 $0.00 $2,410.35 $429,992.10
228 $429,992.10 $1,283.07 $0.00 $2,431.24 $433,706.41
229 $433,706.41 $1,283.07 $157,947.02 $2,452.24 $279,494.70
230 $279,494.70 $1,283.07 $0.00 $1,580.30 $282,358.07
231 $282,358.07 $1,283.07 $0.00 $1,596.49 $285,237.63
232 $285,237.63 $1,283.07 $0.00 $1,612.78 $288,133.48
233 $288,133.48 $1,283.07 $0.00 $1,629.15 $291,045.70
234 $291,045.70 $1,283.07 $0.00 $1,645.61 $293,974.38
235 $293,974.38 $1,283.07 $0.00 $1,662.17 $296,919.62
236 $296,919.62 $1,283.07 $0.00 $1,678.83 $299,881.52
237 $299,881.52 $1,283.07 $0.00 $1,695.57 $302,860.16
238 $302,860.16 $1,283.07 $0.00 $1,712.42 $305,855.65
239 $305,855.65 $1,283.07 $0.00 $1,729.35 $308,868.07
240 $308,868.07 $1,283.07 $0.00 $1,746.38 $311,897.52
241 $311,897.52 $1,283.07 $165,844.37 $1,763.51 $149,099.73
242 $149,099.73 $1,283.07 $0.00 $843.03 $151,225.83
243 $151,225.83 $1,283.07 $0.00 $855.05 $153,363.95
244 $153,363.95 $1,283.07 $0.00 $867.14 $155,514.16
245 $155,514.16 $1,283.07 $0.00 $879.30 $157,676.53
246 $157,676.53 $1,283.07 $0.00 $891.53 $159,851.13
247 $159,851.13 $1,283.07 $0.00 $903.82 $162,038.02
248 $162,038.02 $1,283.07 $0.00 $916.19 $164,237.28
249 $164,237.28 $1,283.07 $0.00 $928.62 $166,448.97
250 $166,448.97 $1,283.07 $0.00 $941.13 $168,673.17
251 $168,673.17 $1,283.07 $0.00 $953.70 $170,909.94
252 $170,909.94 $1,283.07 $0.00 $966.35 $173,159.36
253 $173,159.36 $0.00 $174,136.59 $979.07 $1.84