Every parent aims to provide the best of everything to their child. And the child’s higher education is no exception to this. As you are aware, higher education is a necessary tool to get started on a career path and succeed in life professionally. While
the little one firms up his/her career choice, you as a parent need to be financially prepared to support the ultimate choice. With education costs skyrocketing, it's prudent that you start the financial planning at the earliest.
What makes the planning complicated, is inflation. Just like your mutual fund returns compound with time, inflation also negatively compounds and increases the present value of all services. If inflation increases in the future, you will have to pay much
higher fees for academic years than in the present. In India, higher education costs are already high and increasing at 10-12% every year.
Here’s where our education planning calculator comes into the picture. It helps you derive the extent of investments required to reach your target amount.
The Children Education Plan Calculator will help you in such futuristic calculations. Using the Education Planner, you can calculate the amount of money you will need to invest from today onwards to achieve the desired amounts for your children. This
is done by choosing the suitable investment options (such as
SIPs in MF) and accounting for the savings you may have already. You can approximate the education expenses at today's prices and let
the calculator do its magic!
The Children Education Plan Calculator will show you the detailed results for two children at a time. The best part is that you do not need to hire a financial planner to calculate this. The figures the calculator gives you are-
- Cost of education at today's prices
- Future cost of education (Inflation adjusted)
And a comparison of your current savings amount and monthly savings required
You can then use our
SIP calculator to know how much to invest each month for various mutual fund schemes that give varying returns.