Number of years to university - The commencement of university studies is assumed at 19 years old for female and 21 years old for male.

First-year average tuition cost is based on the average of latest first-year General and Medicine degree costs released by three sampled universities for each country. Actual tuition cost may vary.

USA: Stanford University, Harvard University, University of Michigan
UK: University of Oxford (General only), University of Cambridge and the Imperial College London
Australia: Australia National University (General only), University of Melbourne and University of Sydney
Singapore: National University of Singapore, Nanyang Technological University and Singapore Management University (General only)

Duration of University - A general degree is assumed to be attained in 4 years. A medicine degree is assumed to be attained in 6 years except in USA which is assumed to be 8 years (https://www.medicalstudyguide.com/medicine-in-usa.html)

Annual living cost basis - For Australia, USA and UK, the amount is based on figures available from TopUniversities How Much It Cost To Study Abroad website (www.topuniversities.com). For Singapore, this is based on the average of figures from three websites: NUS Office of Admissions (www.nus.edu.sg), NTU Undergraduate International Admissions website (admissions.ntu.edu.sg) and SMU Campus Life Co-living (www.smu.edu.sg).

Inflation rate for education is based on the latest information published by the statistics bureau for each country in 2019.
USA: Bureau of Labor Statistics CPI for Education, extracted in Oct 19
UK: Office for National Statistics data CPI for Education, updated in Oct 2019
Australia: Australian Bureau of Statistics CPI for Education and All, updated in Aug 2019
Singapore: Department of Statistics Singapore CPI for Education and All, updated in March 2019

Foreign exchange rate is based on the past year average monthly rates from Oct 2018 to Oct 2019. Data is retrieved from Monetary Authority of Singapore. Rounded off to the nearest 2 decimal place.

Education Goal is the estimated amount require at start of university age, calculated based on inflation adjusted tuition fees and living expenses.

Current value of existing funds is the sum of your cash, deposits and investments set aside for the goal.

Projected value of existing funds is the projected value of your existing funds and monthly savings set aside for the goal using the respective growth rate.

All figures and diagrams are for illustrative purposes only. This calculator is intended to be used as an estimate only. All figures are rounded up to the nearest dollar unless otherwise stated.