How To Calculate Children's Education Costs From The Paud To Universities Level

Illustration of child education costs (Photo: Antara)

YOGYAKARTA How to calculate the cost of children's education must be known to parents, because the basic education money continues to increase by 10 percent year-on-year.

The increase makes the cost of education that children need when they enter school age will certainly be very large. Especially if it is added to the increase in inflation in the education sector.

According to data from the Central Statistics Agency (BPS), the education sector experienced inflation of 2.77 percent in December 2022 on an annual year-on-year (yoy) basis.

With the high increase in base money and inflation in the education sector, you need careful financial preparation to cover the cost of children's education in the future. So, how to calculate children's education costs?

Calculate the remaining time until the child sits in school. For example, if your child is now 3 years old, then you have 1 year before the child enters PAUD.

Parents' time students are an important component to determine the amount of contribution that must be prepared every month.

Do a survey on the cost of children's education, from the PAUD level to universities. This is to determine the amount of the cost of the basic education fee needed.

According to data compiled by VOI, the cost of education needed to send children to Jakarta from the PAUD level to private-run universities is:

This figure has not been multiplied by an increase in base money of 10 percent every year.

To calculate children's education costs, you need to include the remaining time variables and the percentage of base money increases.

Formulae For Calculating Children's Education Costs

The formula for calculating children's education costs is:

The cost of education = the remaining time x percentage increases the cost of education x the current cost of education + the current cost of education.

For example, PAUD's tuition fee is IDR 8.5 million, children are 3 years old with 1 year remaining, the way to calculate it is:

1 x 10% x Rp8,500,000 + Rp8,500,000 = Rp9,350,000.

For kindergarten (starting school age 5 years with 2 years remaining) = 2 x 10% x Rp. 12,500,000 + Rp. 12,500,000 = Rp. 15,000,000

For elementary schools (starting age 7 years, waiting period 4 years) = 4 x 10% x 27,000,000 + 27,000,000 = IDR 37,800,000

For junior high schools (starting age 12 years, waiting period 9 years) = 9 x 10% x 30,000,000 + IDR 30,000,000 = IDR 57,000,000

For high school (starting age 16 years, waiting period 13 years) = 13 x 10% x 32,000,000 + IDR 32,000,000 = IDR 73,600,000

For college (starting age 18 years, waiting period 15 years) = 15 x 10% x 40,000,000 + IDR 40,000,000 = IDR 100,000,000.

Total child education costs from PAUD to universities:

IDR 9,350,000 + IDR 15,000,000 + IDR 37,800,000 + IDR 57,000,000 + IDR 73,600,000 + IDR 100,000,000 = IDR 292,750,000

For the record, the calculation of the cost of education does not include book money, children's school needs, transportation costs, and so on.

This is information on how to calculate the cost of children's education from the PAUD to college level. Hopefully it will be useful!