School & University Fees calculator

You should enter your assumed investment growth rate net of all charges. The calculator is based on investment into a Dublin-based bond. It does not include any product charges.

You can allow for a "gap year" (or more than one year) by entering an age for starting university that is more than one year older than the age at the start of the last school year.

If you have a quotation or invoice from a school, then enter the annual fee. As costs vary geographically, and will also vary across schools in your own area, we cannot provide an accurate estimate. We suggest you obtain this figure from your own Internet research. Along with actual school websites, there are also websites which gather and publish data on average school fees nationally.

Figures in red in this column indicate that there is a shortfall between the amount of fees required and the value remaining in the bond. In practice no further withdrawals could be made once the bond has a zero value and these figures are shown only to demonstrate the size of the shortfall. No tax information is shown in this case.

The accumulated 5% allowance column shows the amount of any unused allowance at the end of each year. The allowance is available until 100% of the original investment has been withdrawn.

The personal tax allowance, nil rate savings band & personal savings allowance are assumed to be either fully available - i.e. the person has no other income - or not available at all. You can choose for it to become available at university stage, if, for instance, the bond is to be assigned to the student. Where the band and allowances are available, then gains in excess are taxed at 20%.

The personal tax allowance, starting rate for savings & personal savings allowance in the first year are those applying in tax year 2024/2025 i.e. personal allowance of £12,570; starting rate for savings of £5,000; personal savings allowance of £1,000.

Top slicing relief is ignored.

This calculator is designed to give a general demonstration of how school and university fees could be funded. It does not take into account all the possible individual circumstances that may impact on the tax position of the investment. It should not be taken as offering advice or any recommendation. Every care has been taken as to its accuracy, but it must be appreciated that neither Prudential nor its representatives can accept any responsibility for loss, however caused, suffered by any person who has acted or refrained from acting as a result of material contained in this calculator.

The value cashed in figure relates to partial surrender proceeds, not full encashment of segments.

The above is based on our understanding of current taxation, legislation and HM Revenue & Customs practice, all of which are liable to change without notice. The impact of taxation (and any tax reliefs) depends on individual circumstances.