About the course
Sets what it will cost by then, and how long your money has to grow.
Fifteen lakh
Total fees at today's prices, not per year.
Whole years, counted to the first fee payment.
Your money today
Rough numbers are fine. You can refine them later.
Two lakh
Ten thousand
Toward this goal, not everything you save.
Your result
Fill in the fields to see if you are on track.
What the course will cost in 7 years, once fees have risen
In today's money
₹15 Lakhs
In 2033 rupees
₹29.23 Lakhs
Same amount. Prices rise 10% a year, so rupees buy less by then.
Not there yet — ₹11.93 Lakhs short in 7 years.
Save this much more each month, on top of ₹10,000
₹9,262
Or keep saving as you are and have it covered in 17 years.
Fees will be ₹29.23 Lakhs by 2033. Your savings of ₹17.3 Lakhs cover 59% of it, and ₹11.93 Lakhs is still needed.
| Figure | Amount |
|---|---|
| You need | ₹29.23 Lakhs |
| You will have | ₹17.3 Lakhs |
| Of which you put in | ₹10.4 Lakhs |
| Of which growth | ₹6.9 Lakhs |
| Still needed | ₹11.93 Lakhs |
- You will have
- ₹17.3 Lakhs59.2%
- Gap to close
- ₹11.93 Lakhs40.8%
AssumptionsChangeHide
A long-run average. Real returns vary year to year, and a fall close to your deadline leaves little time to recover.
Fees rise each yearinflation
How the projection is builtShowHide
- Return assumed
- 12% a year
- Monthly rate used
- 0.9489%, compounding to 12% a year
- Costs rise
- 10% a year
- Fees paid
- all at the start
- Contributions land
- at the start of each month
- Months to save
- 84
Illustrative projection, not advice. Nothing you enter is stored.
Before you rely on these numbers
- This is an illustrative tool, not investment advice and not a recommendation to buy or sell any security or product.
- Every figure is a projection built on the assumptions shown, which you can change. Actual returns vary and can be negative.
- Returns are assumed to be steady year on year. Real markets are not, and a poor sequence of returns close to your goal changes the outcome even when the average does not.
- Figures are before tax, exit loads and fund charges, and assume every contribution is made on time.
- Nothing you type is sent anywhere. The calculation runs entirely in your browser and nothing is stored.
Why plan for education costs early?
Education costs tend to rise faster than most other prices. A course that costs ₹15 lakhs today could cost close to ₹30 lakhs in 7 years if fees rise 10% a year. Starting early gives your savings more time to grow, so you need to put aside less each month, and you avoid scrambling for a large sum or a loan when the first fees are due.
How to use the education goal calculator
- Describe the course. Enter the total cost of the course at today's prices and the number of years until it starts (1 to 30).
- Add your money today. Enter what you have already saved for this course and how much you save toward it each month.
- Adjust the assumptions. Set the annual return you expect on your savings (3% to 14%) and how fast you expect fees to rise (8% to 12% a year).
You will see what the course will cost when it starts, how much of it your savings will cover, and, if you are short, the extra amount to save each month or how long it would take at your current pace.
How the education goal calculator works
The calculator works in three steps:
- Future cost of the course. Today's cost is grown at your fee inflation rate until the course starts: future cost = cost today × (1 + fee inflation)ʸ, where y is the number of years.
- What your savings grow to. What you have already saved grows like a lump sum, and your monthly saving grows like a SIP, with each instalment invested at the start of the month. The monthly rate is the one that compounds to your annual return: (1 + annual return)^(1/12) − 1.
- The gap. If your savings fall short of the future cost, the gap is turned into the extra amount to save each month to close it.
Worked example: A course costs ₹15 lakhs today and starts in 7 years, with fees rising 10% a year, so it will cost about ₹29.23 lakhs by then. You have saved ₹2 lakhs and save ₹10,000 a month, earning 12% a year. You will put in ₹10.4 lakhs, which grows to about ₹17.3 lakhs, covering 59% of the fees. The gap of about ₹11.93 lakhs could be closed by saving ₹9,262 more a month. At your current pace, you would have enough for the course if it started in 17 years instead.
How much to save each month for a course
| Course cost today | Starts in 5 years | Starts in 10 years | Starts in 15 years |
|---|---|---|---|
| ₹5 Lakhs | ₹9,929 | ₹5,789 | ₹4,388 |
| ₹10 Lakhs | ₹19,857 | ₹11,577 | ₹8,777 |
| ₹25 Lakhs | ₹49,644 | ₹28,943 | ₹21,942 |
| ₹50 Lakhs | ₹99,287 | ₹57,887 | ₹43,885 |
Monthly saving needed, starting from nothing, with fees rising 10% a year and savings earning a steady 12% a year. Illustrative only; real returns vary.
Education Goal Calculator FAQs
Education Goal Calculator
The total cost of the whole course at today's prices, not the fee for one year. Include tuition and, if they apply, hostel and living costs, books, exam fees and travel. The calculator assumes the whole amount is needed when the course starts, which keeps you on the safe side for courses paid year by year.
Education costs in India have tended to rise faster than general prices, which is why the default is 10% a year. For professional or private courses, where fees often climb faster, 11% or 12% is safer. If you're planning for a course with steadier fees, 8% or 9% may be enough.
Enter today's cost in rupees at the current exchange rate, and choose a higher fee inflation (opens in new tab) rate. Foreign fees rise over time, and the rupee has tended to weaken against major currencies over long periods, which makes the same fees cost more in rupees.
It depends on how far away the course is. For goals 7 or more years away, equity mutual funds have historically offered higher returns, with bigger swings along the way. If the course starts within a few years, most people use safer options like debt funds or FDs, which earn less, so use a lower rate. Past returns don't guarantee future ones.
Many parents gradually move money from equity to safer investments in the last two to three years. Fees can't wait for markets to recover, and a fall just before the first payment would leave you short. The calculator's steady return doesn't show that risk.
Only money set aside for this course. If you're planning for more than one child or more than one goal, run the calculator separately for each, with the savings meant for each one, so the same money isn't counted twice.
Our lumpsum calculator shows what a single amount grows to on its own
You can save more, raise your saving each year, or plan for a less expensive option, with scholarships or an education loan to cover part of the cost. The calculator also shows how long it would take if you keep saving as you are, but course dates are usually fixed, so treat that as a sense of how far off you are.
Our SIP calculator shows what any monthly amount could grow to
No. It assumes you save the same amount every month. If you raise your saving as your income grows, you can start with a smaller extra amount than the one shown.
Mostly because of how the monthly rate is worked out. Many calculators divide the annual return by 12, so 12% actually compounds to about 12.68% a year and shows a higher result. This calculator uses a monthly rate that compounds to exactly the annual return you choose, so 12% means 12% a year, the same way fund returns are quoted.
No. Results are shown before tax. Gains are taxed when you redeem, and the rate depends on the type of investment and how long you've held it. Check the current rules or speak to a tax adviser, and aim a little higher if you need the full amount in hand.
No. Nothing you enter in this education calculator is stored.
Still have questions? Write to us at help@time.money
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