Education Savings Calculator
Project how a regular savings contribution grows over time towards a future education cost such as school or university fees.
Your results
Calculation breakdown
- Monthly compounding
- balance = balance × (1 + monthly rate) + contribution, repeated each month
Worked example
Starting with $2,000, adding $200 a month at a 3% annual return for 5 years grows to roughly $14,900.
Assumptions
- Uses a constant assumed return rate — actual returns on savings accounts, term deposits or investments vary and aren't guaranteed.
- Doesn't account for tuition inflation, which typically increases education costs over time.
How this calculator works
Enter your current savings, a regular monthly contribution, an expected annual return, and the number of years until the education cost is due to project your likely savings balance.
Frequently asked questions
What return rate should I use?
This depends on where the savings are held — a basic savings account, term deposit or investment; enter your own expected rate rather than a guaranteed figure.
Does this account for tuition inflation?
No, it only projects your savings growth; consider that education costs typically rise over time when setting your target.
Can I use this for both school and university costs?
Yes, it works for any future education-related savings goal — just set the years and target accordingly.
Results are estimates only and are not financial, tax, legal or credit advice.