Savings Plan and Future Cost Estimation for The Illinois Institute of Art Schaumburg

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

Savings Plan and Future Cost Estimation

Estimated Annual Cost in 2042$134,194
Monthly savings required$1,061

How much will it cost to send your child to The Illinois Institute of Art Schaumburg in 18 years and how much do you need to save?  A 4 year degree is estimated to be priced at $536,774.89 for students enrolling in 2042 if tuition increases average 7% per year until then.   Assuming you have no current college savings, monthly deposits of $1,060.57 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$35,769.00
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 $1,060.57 $0.00 $0.00 $1,060.57
2 $1,060.57 $1,060.57 $0.00 $6.00 $2,127.14
3 $2,127.14 $1,060.57 $0.00 $12.03 $3,199.74
4 $3,199.74 $1,060.57 $0.00 $18.09 $4,278.40
5 $4,278.40 $1,060.57 $0.00 $24.19 $5,363.16
6 $5,363.16 $1,060.57 $0.00 $30.32 $6,454.05
7 $6,454.05 $1,060.57 $0.00 $36.49 $7,551.11
8 $7,551.11 $1,060.57 $0.00 $42.70 $8,654.38
9 $8,654.38 $1,060.57 $0.00 $48.93 $9,763.88
10 $9,763.88 $1,060.57 $0.00 $55.21 $10,879.66
11 $10,879.66 $1,060.57 $0.00 $61.52 $12,001.75
12 $12,001.75 $1,060.57 $0.00 $67.86 $13,130.18
13 $13,130.18 $1,060.57 $0.00 $74.24 $14,264.99
14 $14,264.99 $1,060.57 $0.00 $80.66 $15,406.22
15 $15,406.22 $1,060.57 $0.00 $87.11 $16,553.90
16 $16,553.90 $1,060.57 $0.00 $93.60 $17,708.07
17 $17,708.07 $1,060.57 $0.00 $100.12 $18,868.76
18 $18,868.76 $1,060.57 $0.00 $106.69 $20,036.02
19 $20,036.02 $1,060.57 $0.00 $113.29 $21,209.88
20 $21,209.88 $1,060.57 $0.00 $119.92 $22,390.37
21 $22,390.37 $1,060.57 $0.00 $126.60 $23,577.54
22 $23,577.54 $1,060.57 $0.00 $133.31 $24,771.42
23 $24,771.42 $1,060.57 $0.00 $140.06 $25,972.05
24 $25,972.05 $1,060.57 $0.00 $146.85 $27,179.47
25 $27,179.47 $1,060.57 $0.00 $153.68 $28,393.72
26 $28,393.72 $1,060.57 $0.00 $160.54 $29,614.83
27 $29,614.83 $1,060.57 $0.00 $167.45 $30,842.85
28 $30,842.85 $1,060.57 $0.00 $174.39 $32,077.81
29 $32,077.81 $1,060.57 $0.00 $181.37 $33,319.75
30 $33,319.75 $1,060.57 $0.00 $188.39 $34,568.71
31 $34,568.71 $1,060.57 $0.00 $195.46 $35,824.74
32 $35,824.74 $1,060.57 $0.00 $202.56 $37,087.87
33 $37,087.87 $1,060.57 $0.00 $209.70 $38,358.14
34 $38,358.14 $1,060.57 $0.00 $216.88 $39,635.59
35 $39,635.59 $1,060.57 $0.00 $224.11 $40,920.27
36 $40,920.27 $1,060.57 $0.00 $231.37 $42,212.21
37 $42,212.21 $1,060.57 $0.00 $238.67 $43,511.45
38 $43,511.45 $1,060.57 $0.00 $246.02 $44,818.04
39 $44,818.04 $1,060.57 $0.00 $253.41 $46,132.02
40 $46,132.02 $1,060.57 $0.00 $260.84 $47,453.43
41 $47,453.43 $1,060.57 $0.00 $268.31 $48,782.31
42 $48,782.31 $1,060.57 $0.00 $275.82 $50,118.70
43 $50,118.70 $1,060.57 $0.00 $283.38 $51,462.65
44 $51,462.65 $1,060.57 $0.00 $290.98 $52,814.20
45 $52,814.20 $1,060.57 $0.00 $298.62 $54,173.39
46 $54,173.39 $1,060.57 $0.00 $306.30 $55,540.26
47 $55,540.26 $1,060.57 $0.00 $314.03 $56,914.86
48 $56,914.86 $1,060.57 $0.00 $321.80 $58,297.23
49 $58,297.23 $1,060.57 $0.00 $329.62 $59,687.42
50 $59,687.42 $1,060.57 $0.00 $337.48 $61,085.47
51 $61,085.47 $1,060.57 $0.00 $345.39 $62,491.43
52 $62,491.43 $1,060.57 $0.00 $353.34 $63,905.34
53 $63,905.34 $1,060.57 $0.00 $361.33 $65,327.24
54 $65,327.24 $1,060.57 $0.00 $369.37 $66,757.18
55 $66,757.18 $1,060.57 $0.00 $377.45 $68,195.20
56 $68,195.20 $1,060.57 $0.00 $385.59 $69,641.36
57 $69,641.36 $1,060.57 $0.00 $393.76 $71,095.69
58 $71,095.69 $1,060.57 $0.00 $401.99 $72,558.25
59 $72,558.25 $1,060.57 $0.00 $410.25 $74,029.07
60 $74,029.07 $1,060.57 $0.00 $418.57 $75,508.21
61 $75,508.21 $1,060.57 $0.00 $426.93 $76,995.71
62 $76,995.71 $1,060.57 $0.00 $435.34 $78,491.62
63 $78,491.62 $1,060.57 $0.00 $443.80 $79,995.99
64 $79,995.99 $1,060.57 $0.00 $452.31 $81,508.87
65 $81,508.87 $1,060.57 $0.00 $460.86 $83,030.30
66 $83,030.30 $1,060.57 $0.00 $469.47 $84,560.34
67 $84,560.34 $1,060.57 $0.00 $478.12 $86,099.03
68 $86,099.03 $1,060.57 $0.00 $486.82 $87,646.42
69 $87,646.42 $1,060.57 $0.00 $495.57 $89,202.56
70 $89,202.56 $1,060.57 $0.00 $504.36 $90,767.49
71 $90,767.49 $1,060.57 $0.00 $513.21 $92,341.27
72 $92,341.27 $1,060.57 $0.00 $522.11 $93,923.95
73 $93,923.95 $1,060.57 $0.00 $531.06 $95,515.58
74 $95,515.58 $1,060.57 $0.00 $540.06 $97,116.21
75 $97,116.21 $1,060.57 $0.00 $549.11 $98,725.89
76 $98,725.89 $1,060.57 $0.00 $558.21 $100,344.67
77 $100,344.67 $1,060.57 $0.00 $567.36 $101,972.60
78 $101,972.60 $1,060.57 $0.00 $576.57 $103,609.74
79 $103,609.74 $1,060.57 $0.00 $585.82 $105,256.13
80 $105,256.13 $1,060.57 $0.00 $595.13 $106,911.83
81 $106,911.83 $1,060.57 $0.00 $604.50 $108,576.90
82 $108,576.90 $1,060.57 $0.00 $613.91 $110,251.38
83 $110,251.38 $1,060.57 $0.00 $623.38 $111,935.33
84 $111,935.33 $1,060.57 $0.00 $632.90 $113,628.80
85 $113,628.80 $1,060.57 $0.00 $642.47 $115,331.84
86 $115,331.84 $1,060.57 $0.00 $652.10 $117,044.51
87 $117,044.51 $1,060.57 $0.00 $661.79 $118,766.87
88 $118,766.87 $1,060.57 $0.00 $671.53 $120,498.97
89 $120,498.97 $1,060.57 $0.00 $681.32 $122,240.86
90 $122,240.86 $1,060.57 $0.00 $691.17 $123,992.60
91 $123,992.60 $1,060.57 $0.00 $701.07 $125,754.24
92 $125,754.24 $1,060.57 $0.00 $711.03 $127,525.84
93 $127,525.84 $1,060.57 $0.00 $721.05 $129,307.46
94 $129,307.46 $1,060.57 $0.00 $731.12 $131,099.15
95 $131,099.15 $1,060.57 $0.00 $741.25 $132,900.97
96 $132,900.97 $1,060.57 $0.00 $751.44 $134,712.98
97 $134,712.98 $1,060.57 $0.00 $761.69 $136,535.24
98 $136,535.24 $1,060.57 $0.00 $771.99 $138,367.80
99 $138,367.80 $1,060.57 $0.00 $782.35 $140,210.72
100 $140,210.72 $1,060.57 $0.00 $792.77 $142,064.06
101 $142,064.06 $1,060.57 $0.00 $803.25 $143,927.88
102 $143,927.88 $1,060.57 $0.00 $813.79 $145,802.24
103 $145,802.24 $1,060.57 $0.00 $824.39 $147,687.20
104 $147,687.20 $1,060.57 $0.00 $835.04 $149,582.81
105 $149,582.81 $1,060.57 $0.00 $845.76 $151,489.14
106 $151,489.14 $1,060.57 $0.00 $856.54 $153,406.25
107 $153,406.25 $1,060.57 $0.00 $867.38 $155,334.20
108 $155,334.20 $1,060.57 $0.00 $878.28 $157,273.05
109 $157,273.05 $1,060.57 $0.00 $889.24 $159,222.86
110 $159,222.86 $1,060.57 $0.00 $900.27 $161,183.70
111 $161,183.70 $1,060.57 $0.00 $911.36 $163,155.63
112 $163,155.63 $1,060.57 $0.00 $922.51 $165,138.71
113 $165,138.71 $1,060.57 $0.00 $933.72 $167,133.00
114 $167,133.00 $1,060.57 $0.00 $944.99 $169,138.56
115 $169,138.56 $1,060.57 $0.00 $956.33 $171,155.46
116 $171,155.46 $1,060.57 $0.00 $967.74 $173,183.77
117 $173,183.77 $1,060.57 $0.00 $979.21 $175,223.55
118 $175,223.55 $1,060.57 $0.00 $990.74 $177,274.86
119 $177,274.86 $1,060.57 $0.00 $1,002.34 $179,337.77
120 $179,337.77 $1,060.57 $0.00 $1,014.00 $181,412.34
121 $181,412.34 $1,060.57 $0.00 $1,025.73 $183,498.64
122 $183,498.64 $1,060.57 $0.00 $1,037.53 $185,596.74
123 $185,596.74 $1,060.57 $0.00 $1,049.39 $187,706.70
124 $187,706.70 $1,060.57 $0.00 $1,061.32 $189,828.59
125 $189,828.59 $1,060.57 $0.00 $1,073.32 $191,962.48
126 $191,962.48 $1,060.57 $0.00 $1,085.38 $194,108.43
127 $194,108.43 $1,060.57 $0.00 $1,097.52 $196,266.52
128 $196,266.52 $1,060.57 $0.00 $1,109.72 $198,436.81
129 $198,436.81 $1,060.57 $0.00 $1,121.99 $200,619.37
130 $200,619.37 $1,060.57 $0.00 $1,134.33 $202,814.27
131 $202,814.27 $1,060.57 $0.00 $1,146.74 $205,021.58
132 $205,021.58 $1,060.57 $0.00 $1,159.22 $207,241.37
133 $207,241.37 $1,060.57 $0.00 $1,171.77 $209,473.71
134 $209,473.71 $1,060.57 $0.00 $1,184.39 $211,718.67
135 $211,718.67 $1,060.57 $0.00 $1,197.09 $213,976.33
136 $213,976.33 $1,060.57 $0.00 $1,209.85 $216,246.75
137 $216,246.75 $1,060.57 $0.00 $1,222.69 $218,530.01
138 $218,530.01 $1,060.57 $0.00 $1,235.60 $220,826.18
139 $220,826.18 $1,060.57 $0.00 $1,248.58 $223,135.33
140 $223,135.33 $1,060.57 $0.00 $1,261.64 $225,457.54
141 $225,457.54 $1,060.57 $0.00 $1,274.77 $227,792.88
142 $227,792.88 $1,060.57 $0.00 $1,287.97 $230,141.42
143 $230,141.42 $1,060.57 $0.00 $1,301.25 $232,503.24
144 $232,503.24 $1,060.57 $0.00 $1,314.61 $234,878.42
145 $234,878.42 $1,060.57 $0.00 $1,328.04 $237,267.03
146 $237,267.03 $1,060.57 $0.00 $1,341.54 $239,669.14
147 $239,669.14 $1,060.57 $0.00 $1,355.12 $242,084.83
148 $242,084.83 $1,060.57 $0.00 $1,368.78 $244,514.18
149 $244,514.18 $1,060.57 $0.00 $1,382.52 $246,957.27
150 $246,957.27 $1,060.57 $0.00 $1,396.33 $249,414.17
151 $249,414.17 $1,060.57 $0.00 $1,410.22 $251,884.96
152 $251,884.96 $1,060.57 $0.00 $1,424.19 $254,369.72
153 $254,369.72 $1,060.57 $0.00 $1,438.24 $256,868.53
154 $256,868.53 $1,060.57 $0.00 $1,452.37 $259,381.47
155 $259,381.47 $1,060.57 $0.00 $1,466.58 $261,908.62
156 $261,908.62 $1,060.57 $0.00 $1,480.87 $264,450.06
157 $264,450.06 $1,060.57 $0.00 $1,495.24 $267,005.87
158 $267,005.87 $1,060.57 $0.00 $1,509.69 $269,576.13
159 $269,576.13 $1,060.57 $0.00 $1,524.22 $272,160.92
160 $272,160.92 $1,060.57 $0.00 $1,538.84 $274,760.33
161 $274,760.33 $1,060.57 $0.00 $1,553.53 $277,374.43
162 $277,374.43 $1,060.57 $0.00 $1,568.32 $280,003.32
163 $280,003.32 $1,060.57 $0.00 $1,583.18 $282,647.07
164 $282,647.07 $1,060.57 $0.00 $1,598.13 $285,305.77
165 $285,305.77 $1,060.57 $0.00 $1,613.16 $287,979.50
166 $287,979.50 $1,060.57 $0.00 $1,628.28 $290,668.35
167 $290,668.35 $1,060.57 $0.00 $1,643.48 $293,372.40
168 $293,372.40 $1,060.57 $0.00 $1,658.77 $296,091.74
169 $296,091.74 $1,060.57 $0.00 $1,674.15 $298,826.46
170 $298,826.46 $1,060.57 $0.00 $1,689.61 $301,576.64
171 $301,576.64 $1,060.57 $0.00 $1,705.16 $304,342.37
172 $304,342.37 $1,060.57 $0.00 $1,720.80 $307,123.74
173 $307,123.74 $1,060.57 $0.00 $1,736.52 $309,920.83
174 $309,920.83 $1,060.57 $0.00 $1,752.34 $312,733.74
175 $312,733.74 $1,060.57 $0.00 $1,768.24 $315,562.55
176 $315,562.55 $1,060.57 $0.00 $1,784.24 $318,407.36
177 $318,407.36 $1,060.57 $0.00 $1,800.32 $321,268.25
178 $321,268.25 $1,060.57 $0.00 $1,816.50 $324,145.32
179 $324,145.32 $1,060.57 $0.00 $1,832.76 $327,038.65
180 $327,038.65 $1,060.57 $0.00 $1,849.12 $329,948.34
181 $329,948.34 $1,060.57 $0.00 $1,865.58 $332,874.49
182 $332,874.49 $1,060.57 $0.00 $1,882.12 $335,817.18
183 $335,817.18 $1,060.57 $0.00 $1,898.76 $338,776.51
184 $338,776.51 $1,060.57 $0.00 $1,915.49 $341,752.57
185 $341,752.57 $1,060.57 $0.00 $1,932.32 $344,745.46
186 $344,745.46 $1,060.57 $0.00 $1,949.24 $347,755.27
187 $347,755.27 $1,060.57 $0.00 $1,966.26 $350,782.10
188 $350,782.10 $1,060.57 $0.00 $1,983.37 $353,826.04
189 $353,826.04 $1,060.57 $0.00 $2,000.58 $356,887.19
190 $356,887.19 $1,060.57 $0.00 $2,017.89 $359,965.65
191 $359,965.65 $1,060.57 $0.00 $2,035.30 $363,061.52
192 $363,061.52 $1,060.57 $0.00 $2,052.80 $366,174.89
193 $366,174.89 $1,060.57 $0.00 $2,070.41 $369,305.87
194 $369,305.87 $1,060.57 $0.00 $2,088.11 $372,454.55
195 $372,454.55 $1,060.57 $0.00 $2,105.91 $375,621.03
196 $375,621.03 $1,060.57 $0.00 $2,123.82 $378,805.42
197 $378,805.42 $1,060.57 $0.00 $2,141.82 $382,007.81
198 $382,007.81 $1,060.57 $0.00 $2,159.93 $385,228.31
199 $385,228.31 $1,060.57 $0.00 $2,178.14 $388,467.02
200 $388,467.02 $1,060.57 $0.00 $2,196.45 $391,724.04
201 $391,724.04 $1,060.57 $0.00 $2,214.86 $394,999.47
202 $394,999.47 $1,060.57 $0.00 $2,233.38 $398,293.42
203 $398,293.42 $1,060.57 $0.00 $2,252.01 $401,606.00
204 $401,606.00 $1,060.57 $0.00 $2,270.74 $404,937.31
205 $404,937.31 $1,060.57 $0.00 $2,289.57 $408,287.45
206 $408,287.45 $1,060.57 $0.00 $2,308.52 $411,656.54
207 $411,656.54 $1,060.57 $0.00 $2,327.57 $415,044.68
208 $415,044.68 $1,060.57 $0.00 $2,346.72 $418,451.97
209 $418,451.97 $1,060.57 $0.00 $2,365.99 $421,878.53
210 $421,878.53 $1,060.57 $0.00 $2,385.36 $425,324.46
211 $425,324.46 $1,060.57 $0.00 $2,404.85 $428,789.88
212 $428,789.88 $1,060.57 $0.00 $2,424.44 $432,274.89
213 $432,274.89 $1,060.57 $0.00 $2,444.15 $435,779.61
214 $435,779.61 $1,060.57 $0.00 $2,463.96 $439,304.14
215 $439,304.14 $1,060.57 $0.00 $2,483.89 $442,848.60
216 $442,848.60 $1,060.57 $0.00 $2,503.93 $446,413.10
217 $446,413.10 $1,060.57 $120,896.80 $2,524.08 $329,100.95
218 $329,100.95 $1,060.57 $0.00 $1,860.78 $332,022.30
219 $332,022.30 $1,060.57 $0.00 $1,877.30 $334,960.17
220 $334,960.17 $1,060.57 $0.00 $1,893.91 $337,914.65
221 $337,914.65 $1,060.57 $0.00 $1,910.62 $340,885.84
222 $340,885.84 $1,060.57 $0.00 $1,927.42 $343,873.83
223 $343,873.83 $1,060.57 $0.00 $1,944.31 $346,878.71
224 $346,878.71 $1,060.57 $0.00 $1,961.30 $349,900.58
225 $349,900.58 $1,060.57 $0.00 $1,978.39 $352,939.54
226 $352,939.54 $1,060.57 $0.00 $1,995.57 $355,995.68
227 $355,995.68 $1,060.57 $0.00 $2,012.85 $359,069.10
228 $359,069.10 $1,060.57 $0.00 $2,030.23 $362,159.90
229 $362,159.90 $1,060.57 $129,359.57 $2,047.70 $235,908.60
230 $235,908.60 $1,060.57 $0.00 $1,333.86 $238,303.03
231 $238,303.03 $1,060.57 $0.00 $1,347.40 $240,711.00
232 $240,711.00 $1,060.57 $0.00 $1,361.01 $243,132.58
233 $243,132.58 $1,060.57 $0.00 $1,374.71 $245,567.86
234 $245,567.86 $1,060.57 $0.00 $1,388.48 $248,016.91
235 $248,016.91 $1,060.57 $0.00 $1,402.32 $250,479.80
236 $250,479.80 $1,060.57 $0.00 $1,416.25 $252,956.62
237 $252,956.62 $1,060.57 $0.00 $1,430.25 $255,447.44
238 $255,447.44 $1,060.57 $0.00 $1,444.34 $257,952.35
239 $257,952.35 $1,060.57 $0.00 $1,458.50 $260,471.42
240 $260,471.42 $1,060.57 $0.00 $1,472.74 $263,004.73
241 $263,004.73 $1,060.57 $138,414.74 $1,487.07 $127,137.63
242 $127,137.63 $1,060.57 $0.00 $718.85 $128,917.05
243 $128,917.05 $1,060.57 $0.00 $728.92 $130,706.54
244 $130,706.54 $1,060.57 $0.00 $739.03 $132,506.14
245 $132,506.14 $1,060.57 $0.00 $749.21 $134,315.92
246 $134,315.92 $1,060.57 $0.00 $759.44 $136,135.93
247 $136,135.93 $1,060.57 $0.00 $769.73 $137,966.23
248 $137,966.23 $1,060.57 $0.00 $780.08 $139,806.88
249 $139,806.88 $1,060.57 $0.00 $790.49 $141,657.94
250 $141,657.94 $1,060.57 $0.00 $800.95 $143,519.46
251 $143,519.46 $1,060.57 $0.00 $811.48 $145,391.51
252 $145,391.51 $1,060.57 $0.00 $822.06 $147,274.14
253 $147,274.14 $0.00 $148,103.78 $832.71 $3.07