It’s difficult to judge exactly how much you will need to finance a child’s education. This calculator is designed to help your clients.
Simply choose the level of education they’re planning for and enter an estimate of additional annual expenditures. The calculator will then work out the estimated total amount needed to finance their child’s education and the monthly premium they should consider saving based on the chosen growth rate.
The outcome will show the total amount your client will need to save for the chosen level of education and assumes they require the amount from the first year of the selected level. Please bear in mind that if your client has more than one child, and they are saving for more than one level of education, they will need to complete the tool multiple times.
You can print the results and then start again for another level or child.
Note that the calculations have been worked out on the following assumed number of years for each level:
Kindergarten – two years (aged 4 to 6)
Primary school – five years (aged 6 to 11)
Secondary school – the default is five years (aged 11 to 16) with the option of changing to seven, to include college/sixth form
University – the default is four years, with the option of changing to one through to six
To help you and your client work out assumed annual expenditures, please refer to our education infographic as a guide. Or return to the Education Hub.