calculator
Education Savings Calculator
Shows what school or university could cost when your child gets there and how much to save each month.
R3 333 a month
Studies could cost about R620 799 in total, in money of the day they start (allowing for savings that keep growing while they study). A tax-free savings account can suit long-term saving; SARS sets annual and lifetime limits. NSFAS may help qualifying students at public institutions.
An estimate for awareness, not financial advice.
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What you will need
- Yearly cost today (fees, books, transport, residence) (R)
- Years until they start (years)
- Number of years of study (years)
- Education cost increase per year (%): Education costs have often risen faster than general inflation.
- Investment return per year after fees (%)
- Already saved (R)
How it works
total_needed_at_start = sum over k = 0..years_of_study-1 of annual_cost_today * (1+education_inflation/100)^(years_until_start + k) / (1+return_rate/100)^k (money keeps growing while studying). r = return_rate/100/12; n = years_until_start*12. fv_current = current_saved*(1+r)^n. need = max(0, total_needed_at_start - fv_current). monthly_saving = need * r / ((1+r)^n - 1). Tip: a tax-free savings account can suit long-term education saving; it has annual and lifetime contribution limits set by SARS (load current limits from config). NSFAS may help qualifying students at public institutions; check nsfas.org.za.
What you get
- Estimated cost when they start
- Save this much each month
What it means
- There is not much time to grow savings, so keep this money in a low-risk option.
- This is a big share of income; any amount you save will still reduce future debt.
Next step: Want help interpreting this? Speak to an FSCA-authorised financial planner.
Runs on the device. Nothing is saved unless the member chooses.