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Estimate your total education cost based on the student's age, education goal, course category, study location, institution type, education inflation, and other expenses.
Use the EZTax Education Cost Calculator to estimate the current and future education cost, including tuition and fees, other expenses, hostel costs, initial charges, and education inflation impact based on your selected education plan.
The Education Cost Calculator estimates the future cost of education based on the student's age, education goal, stream, course category, study location, institution type, fee benefits, education inflation, annual expenses, and hostel requirements.
The calculator can estimate education costs for Higher Secondary, Graduation, Post-Graduation, and Specialised Degree programs.
The calculator estimates the annual education cost and applies the selected Education Inflation Rate to future years. The total of all inflation-adjusted yearly costs gives the Total Future Education Cost.
Current Education Cost represents the estimated total cost of the selected education path at today's cost levels, without applying future education inflation.
Education Inflation Impact is the additional amount resulting from education cost inflation.
Education Inflation Impact = Total Future Education Cost − Current Education Cost
The calculation can include Tuition & Fees, Other Annual Expenses, Hostel Costs, and Initial Charges applicable to the selected education stages.
A higher education inflation rate increases the estimated cost for future years. The calculator applies the selected inflation rate progressively to annual education expenses.
If Yes is selected, the specified annual hostel cost is included and increased according to the education inflation rate. If No is selected, hostel cost is considered zero.
Initial Charges are applied when a student starts a new education stage, such as Higher Secondary, Graduation, or Post-Graduation, based on the calculator's assumptions.
The calculator adjusts estimated education costs based on the selected Rural, Urban, or Foreign study location. Foreign education costs can also vary based on the selected country.
The calculator considers different estimated cost levels for Government, Private, and Premium Private institutions.
Yes. Selecting Merit, Reservation, or Scholarship applies the corresponding estimated fee benefit in the calculation. General / No Benefit does not apply a fee reduction.
Yes. The calculator provides a year-wise breakdown showing the student's age, class/degree, tuition and fees, other expenses, hostel, initial charges, and total cost.
No. The results are estimates based on the assumptions and inputs entered by the user. Actual education costs may vary depending on the institution, course, location, inflation, fees, and other factors.
The estimated future cost can help with education financial planning, savings, and estimating the amount that may be required for the student's education.
Disclaimer: This article provides an overview and general guidance, not exhaustive for brevity. Please refer Income Tax Act, GST Act, Companies Act and other tax compliance acts, Rules, and Notifications for details.