CHILD EDUCATION PLANNER
Are you investing enough for your child's higher education?
Planning for your child's education can be
complicated. Accounting for inflation, the changing lifestyle needs and interests of your child,
arriving at an approximate value of how much money you will need, can be tricky. Mistakes can cost
your child their future and result in lost opportunities... Read
More
Smart Planning Tool
What Is a Child Education Planning Calculator
A child education planning calculator is a
digital tool that helps you estimate how much you need to save for your child's future educational
needs. It provides accurate results based on your inputs and helps you plan properly.
The child plan calculator helps you plan better and avoid any
shortfall in funds later due to underestimating the costs.
How Does ICICI Pru Life’s Child Education Planner Works?
-
The calculator also offers insights on how much you need to invest monthly, half-yearly or annually and for how long to achieve your goal. -
The child education calculator works by taking inputs such as:
Parent's date of birthParent's genderChild's nameChild's genderChild's date of birth -
It then factors in the career or profession your child aims to pursue and the age at which they will need the funds. Based on these details, the calculator shows you the current average cost of education for that profession and how education inflation will impact this cost over time. -
Once you know the future savings estimate for your child's education needs, you can plan efficiently. -
The calculator also offers insights on how much you need to invest monthly, half-yearly or annually and for how long to achieve your goal.
-
The child education calculator works by taking inputs such as:
Parent's date of birthParent's genderChild's nameChild's genderChild's date of birth
Quick Guide
How to use a child plan calculator 
Quick Guide
How To Use A Child Plan Calculator
Here are the steps to use a child
education planner
Enter the following details
Parent's
Date Of Birth
Parent's
Gender
Child's Name
Child's
Gender
Child's Age
Enter education goals of your child
Get information on future cost
Get to know our recommendation
The calculator will show you how much you need to save based on your chosen
frequency (monthly/half-yearly/yearly) to arrive at the money you need at
maturity.
Lets talk about benefits
What Are the Advantages of Using a Child Education Planning Calculator?
A child
education calculator can offer you the following advantages:
-
Risk Mitigation:
This calculator helps reduce financial risk by giving you a clear picture of your future needs. It allows you to make more calculated investment decisions that are better aligned with your goals. This minimises the chances of falling short when the time comes. -
Provides a roadmap:
A child education planner acts as a plan of action. It gives you an indication of the amount of fund required to fulfil your child's aspirations. A lot of people procrastinate because they are unaware of how much money they will need in the future. But, with this child education calculator, you will get a sense of the funds required and start planning immediately. -
Offers an estimate:
The child education plan premium calculator helps you evaluate how much you need to save to reach your desired goal. Every child is unique and may have different dreams. However, as a parent, you need to be prepared for any and everything. The calculator lets you plan and save for distinct purposes, such as education in top universities, education overseas, professional courses etc. -
Let's you compare:
A child education plan calculator in India can be used to compare the returns of different products available in the country. You can also compare the modes and frequencies of investment. This helps you make an informed decision and streamline your finances properly. -
Helps in tracking your goals:
Using a child education planner can also be helpful in other cases. The planner lets you monitor your goal and progress. It helps you understand where you stand and how much more you need to save. In the case of an emergency, if you withdraw funds prematurely from the plan, the planner can help you understand the shortfall you need to make up for. -
Investment Insights:
The child education planning calculator offers investment insights to help you plan ahead. It highlights the expected rate of inflation and shows how it can impact your savings. This allows you to choose investments that aim to deliver returns higher than inflation. The calculator also suggests next steps and estimates how much you need to invest regularly to reach your goal. -
Risk Mitigation:
This calculator helps reduce financial risk by giving you a clear picture of your future needs. It allows you to make more calculated investment decisions that are better aligned with your goals. This minimises the chances of falling short when the time comes. -
Provides a roadmap:
A child education planner acts as a plan of action. It gives you an indication of the amount of fund required to fulfil your child's aspirations. A lot of people procrastinate because they are unaware of how much money they will need in the future. But, with this child education calculator, you will get a sense of the funds required and start planning immediately.
FAQ on Child Education Plan Calculator
What is Child education planning?
Inflation typically raises the costs~ of everything in life. This
is true for the cost of education for your children as well. This is where
child education planning comes in. As a parent, you should factor in the
rising cost~ of education and account for it when it comes to
your child's growth. This can help in saving funds beforehand, so when the
time comes you can have the funds handy without incurring any sudden
financial burden. In effect, this works like a life insurance plan, which
helps in investment as well as providing a safety net for your child’s
future.
There are a number of studies and articles that show that higher education
costs have been rising~ consistently over the years. Consumer
Price Index data across the years shows an increase in the cost of education
right from pre-primary to graduate and post-graduate levels. This is only
expected to go higher as time passes.
To give an understanding of how this can work out, do take a look at the below figures:
To give an understanding of how this can work out, do take a look at the below figures:
Another
point to note while considering the above costs is that these costs are
usually indicative of just the cost of degree education in India. This is
usually not inclusive of the cost of books, periodicals, coaching classes,
education equipment etc. If the child has to move to another city, you need
to account for the cost of lodging and boarding as well. Also, another
important factor to consider is the cost of any extra-curricular activities
your child might want to pursue.
If as a parent you are looking to send your child abroad for higher education, the above costs can be considerably higher as well, depending on the country and university that you wish to send your child for further studies.
If as a parent you are looking to send your child abroad for higher education, the above costs can be considerably higher as well, depending on the country and university that you wish to send your child for further studies.
Why should I use a Child Education Planner to calculate future education costs?
A child education planner offers data-driven results that give you clear
estimates of what you will need in the future. It also suggests how you can
reach your goals. Using it is not only helpful but also convenient and easy.
That is why it makes sense to use it.
Can the Child Education Planner be used for other financial goals, like planning for a child's marriage?
The child education planner is specifically designed for education needs and
is best suited for estimating those costs. It may not be ideal for planning
other goals like marriage.
How accurate is the Child Education Planner in estimating education expenses?
The child education planner is fairly accurate. It offers results based on
your inputs and the current rate of education inflation. While actual costs
may vary in the future, it provides a close estimate you can use as a
foundation for planning.
*The calculations mentioned above take
into consideration an assumed rate of 8%. This calculation is generated on the basis of the
information provided and is for assistance only. And is not intended to be and must not
alone be taken as the basis for an investment decision. The returns shown above are not
guaranteed and they are not the upper or lower limits of what you might get back, as the
maturity value of policy depends on a number of factors including future investment
performance.
Reference for CPI for education:
https://www.statista.com/statistics/655041/consumer-price-index-of-education-india/
Reference for CPI for education:
https://www.statista.com/statistics/655041/consumer-price-index-of-education-india/
~Reference for rising cost of
education:
https://www.thehindubusinessline.com/data-stories/data-focus/after-a-massive-dip-in-2021-education-inflation-rises-with-return-to-normalcy/article65513706.ece
https://www.moneycontrol.com/news/business/personal-finance/how-education-inflation-can-hurt-your-childs-future-8682261.html
`Reference for Average estimated cost of educational courses:
https://www.moneycontrol.com/news/business/personal-finance/childrens-day-how-to-save-for-your-kids-expensive-college-education-7711131.html
https://www.cnbctv18.com/india/how-your-child-can-still-make-it-to-the-dream-college-despite-rising-education-inflation-13816892.htm
https://collegedunia.com/courses/master-of-technology-mtech
https://www.aviationfly.com/how-much-is-the-commercial-pilot-training-cost-in-india/
https://collegedunia.com/courses/bachelor-of-arts-ba-journalism
COMP/DOC/Jul/2023/257/3597
COMP/DOC/Jun/2025/136/0484
https://www.thehindubusinessline.com/data-stories/data-focus/after-a-massive-dip-in-2021-education-inflation-rises-with-return-to-normalcy/article65513706.ece
https://www.moneycontrol.com/news/business/personal-finance/how-education-inflation-can-hurt-your-childs-future-8682261.html
`Reference for Average estimated cost of educational courses:
https://www.moneycontrol.com/news/business/personal-finance/childrens-day-how-to-save-for-your-kids-expensive-college-education-7711131.html
https://www.cnbctv18.com/india/how-your-child-can-still-make-it-to-the-dream-college-despite-rising-education-inflation-13816892.htm
https://collegedunia.com/courses/master-of-technology-mtech
https://www.aviationfly.com/how-much-is-the-commercial-pilot-training-cost-in-india/
https://collegedunia.com/courses/bachelor-of-arts-ba-journalism
COMP/DOC/Jul/2023/257/3597
COMP/DOC/Jun/2025/136/0484
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