Get an A in
education planning
Investing in an education plan is one way of ensuring your child
gets the best education possible.
personal solutions i need to cover the cost of education

Want to save for Education?

You’ve come to the right place. We don’t only aim to make saving for your child’s education easy and flexible, we also want to see your kid get the best education under the sun. Whether you want to save for yourself or for your child, we have education savings plans designed for their education needs. Never struggle to cover the cost of uniforms, sports gear, music lessons and for some, extra maths and science lessons. It’s never too early or too late to start, let us help you plan for those education costs.

      So, what is the future cost of education?The examples set out in the table below show the future cost of a university BA degree. The best time for education planning is around the time your child is born. That way, you have lots of years ahead of you to save money in an education plan. If you didn’t start saving for education when your child was born, then the next best time to start is now.
      Child's current age
      Estimated Future Education Costs
      How much you will have saved with R500 per month
      How much you will have saved with R1 000 per month
      How much you will have saved with R1 500 per month
      3 years
      R917 684
      R475 054
      R950 109
      R1 425 163
      8 years
      R624 561
      R238 231
      R476 463
      R714 694
      10 years
      R535 460
      R175 067
      R350 134
      R525 202
      3 years
      Benefits
      8 years
      Benefits
      10 years
      Benefits
      Estimated Future Education Costs
      R917 684
      How much you will have saved with R500 per month
      R475 054
      How much you will have saved with R1 000 per month
      R950 109
      How much you will have saved with R1 500 per month
      R1 425 163
      Estimated Future Education Costs
      R624 561
      How much you will have saved with R500 per month
      R238 231
      How much you will have saved with R1 000 per month
      R476 463
      How much you will have saved with R1 500 per month
      R714 694
      Estimated Future Education Costs
      R535 460
      Estimated Future Education Costs
      R624 561
      How much you will have saved with R1 000 per month
      R350 134
      How much you will have saved with R1 500 per month
      R525 202

      The purpose of this table is to illustrate the benefit of starting to save for education as early as possible. assume the cost of a 4-year-degree, with your child starting at age 18yrs; an 8% expected annual growth in value of savings; an 8% expected annual inflation rate. Growth rates can vary depending on economic circumstances. The amount that you need to save might however differ from your specific circumstances and needs. Please do not rely purely on this table when making financial decisions. It’s always important to get professional financial advice.

                                                                                  Okay, so you get the picture, now let's explore your education options
                                                                                  We know you don’t only want your child to be bright in class, you also want a bright financial future for yourself. Right? The feeling is mutual - we want all things bright. Our products are designed to make saving for education simple and flexible. Have a look at our products and make saving for education fun.
                                                                                  Features
                                                                                  Tax Free Savings Account
                                                                                  Grow your savings without paying tax on the growth your money makes
                                                                                  FutureInvest 4 Education
                                                                                  A fixed investment plan designed to help you save for education
                                                                                  Unit Trusts
                                                                                  A highly flexible investment with a large selection of funds to choose from
                                                                                  Starting premium
                                                                                  From R250/month
                                                                                  From R250/month
                                                                                  From R350/month
                                                                                  From R500/month

                                                                                  Is my investment growth tax free?

                                                                                  Can I access my money when I need it?
                                                                                  Can I choose funds outside Old Mutual?
                                                                                  Can I invest online?
                                                                                  Tax Free Savings Account
                                                                                  Grow your savings without paying tax on the growth your money makes
                                                                                  Features
                                                                                  FutureInvest 4 Education
                                                                                  A fixed investment plan designed to help you save for education

                                                                                  Features

                                                                                  Flexible Plan
                                                                                  Allows you to supplement your tax free savings or simply save for any other life goals
                                                                                  Features
                                                                                  Unit Trusts
                                                                                  A highly flexible investment with a large selection of funds to choose from
                                                                                  Features
                                                                                  Starting premium
                                                                                  From R250/month
                                                                                  Is my investment growth tax free?
                                                                                  Can I access my money when I need it?
                                                                                  Can I choose funds outside Old Mutual?
                                                                                  Can I invest online?
                                                                                  Starting premium
                                                                                  From R250/month
                                                                                  Is my investment growth tax free?
                                                                                  Can I access my money when I need it?
                                                                                  Can I choose funds outside Old Mutual?
                                                                                  Can I invest online?
                                                                                  Starting premium
                                                                                  From R350/month
                                                                                  Is my investment growth tax free?
                                                                                  Can I access my money when I need it?
                                                                                  Can I choose funds outside Old Mutual?
                                                                                  Can I invest online?
                                                                                  From R500/month
                                                                                  Is my investment growth tax free?
                                                                                  Can I access my money when I need it?
                                                                                  Can I choose funds outside Old Mutual?
                                                                                  Can I invest online?

                                                                                  Please note that it always remains important to read and understand the terms and conditions of each product.

                                                                                  Why save for education?The cost of education increases at a faster rate than general inflation. This means you must invest in a solution that can provide returns that can beat those escalating education costs.What does education cost?Education inflation (currently at 9%) is one of the reasons many of us struggle to save enough to cover the cost of school and university fees (and all those extras).

                                                                                  Make your money work for you! You want to be able to invest your money where you can get inflation-beating returns. That means investing it in a savings vehicle that provides capital growth (that’s growth for your money) over the medium- to long-term. The more time you have to invest your money the more time it has to grow.

                                                                                      Some helpful reads on education savingsHere's some reading to help get your head around education savings.
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                                                                                        Copyright Old Mutual Limited 2020
                                                                                        Disclaimer Privacy Notice
                                                                                        Old Mutual Limited (OML) is a premium African financial services group that offers a broad spectrum of financial solutions to retail and corporate customers across key markets in 14 countries.
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