Education Cost Calculator
What a course costing a set amount today will cost when your child starts, and the monthly saving that gets you there.
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A course costing ₹10,00,000 today is likely to cost ₹41,77,248 in 15 years; ₹8,279 a month at a 12% assumed return gets you there.
- Monthly SIP to get there₹8,279
- Your savings by then₹0
- Still to save₹41,77,248
How this is worked out
- Future cost = cost today × (1 + education inflation)^years.
- Monthly SIP = the amount still needed ÷ what 1 a month grows to over the years (the goal SIP formula).
Assumptions
- Education costs have tended to rise faster than general prices in India; 10% is an assumption, not a published figure.
- Returns are assumed; move the money to lower-risk options as the date nears.
The formula
Future cost = cost today × (1 + education inflation)^years
Monthly SIP = amount still needed ÷ what 1 a month grows to over the years
- Education inflation: how fast course fees rise each year; an assumption you set
Money already saved is grown at the same assumed return and subtracted first.
A worked example
A course costing ₹10,00,000 today, with costs rising 10% a year, costs about ₹41,77,248 in 15 years; about ₹8,279 a month at 12% gets there.
Questions people ask
How much will my child's education cost in the future?
Take today's fee for the course and grow it by how fast such fees rise each year until your child starts. Fees for professional courses have tended to rise faster than general prices; the calculator lets you set the rate.
How much should I save each month for education?
Enough that, at a return you can reasonably assume, the savings reach the future cost on time. The calculator works out that monthly amount after counting what you have already saved.
What happens as the start date gets close?
Many people move the money from equity towards deposits or debt funds in the last few years, so a market fall just before the fees are due does not shrink it.
From the Savingy Guide
Related calculators
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- Step-Up SIP Calculator: See what raising your SIP a little every year adds: projected value, what you put in, and the gain over a SIP that stays flat, with the formula.
- SIP Calculator: Free SIP calculator: see how a monthly mutual-fund SIP compounds over time, total invested vs. projected value, and plan your SIP in seconds.
Sources
Estimates are for illustration only and assume constant returns. Actual returns vary with market conditions. This is not investment advice.