Education Funding Calculator

This education calculator has been provided for illustration purposes only. It aims to give you an indication of the costs you need to take into account when planning for the education of your children. Please fill out the fields provided and press Submit.

You can create different scenarios by using the Clear button and entering different data.

Education Calculator
A. Education Costs
If known, please enter the following criteria for the institution / level of tuition you would like to provide for:
Duration of tuition:	* Years
Current cost of 1 year's full expenses:	R *
OR
Select a general requirement from the options provided:
Education required:	Select ... University Technikon *
Expenses to be covered:	Tuition & books only  Tuition & books,       room & board
B. Savings Period:
Number of years to start of tuition:	Select ... 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 *
Contributions to education fund to continue during tuition period?	Yes No
C. Existing Savings Towards Education (if any):
Value of current savings:	R
Current monthly contributions towards savings:	R
D. Assumptions:
Annual increase in contributions:	% **
Expected annual growth in value of savings:	% * *
Expected annual escalation in education costs:	% * *

 

This education funding calculator has been provided for illustration purposes only. It aims to give you an indication of whether or not you are investing sufficiently to achieve the target capital needed for the education you desire.

While Financial Sense has endeavoured to ensure that the data and the relevant rates in this calculator are reliable, accurate and current, no representations or warranties, expressed or implied, are made with regard thereto. Please also note that the assumptions contained in this tool were those relevant in August 2007 - they may change over time.

Financial Sense has no control over the information and variables entered by the user, and any figures generated by the calculator shall not be binding to Financial Sense, nor shall Financial Sense or it's owners accept any liability for damages or losses that may arise directly or indirectly, as a result of such data being inaccurate or incomplete.

The use of the calculator does not constitute advice and should not be regarded as constituting advice in terms of the FAIS Act. Tax illustrations are guidelines only and may not be relied on as being tax advice. Independent legal, tax or financial planning advice must be obtained regarding any legal tax or financial consequences that may be relevant before acting on any information or calculations resulting from the use of the calculator.

Clients are urged to consult with a financial adviser before making any investment or proceeding with any transactions.