Saving for Your Child’s Education
When it comes to investing in education, it’s important to get the basics right as early as possible.
When you have a baby, one of the most important long-term priorities is securing your child’s education. In Kenya, where higher qualifications increase employment opportunities and earning potential, education is one of the best investments you can make for your child's future.
The cost of education in Kenya continues to rise every year, and education inflation is often higher than general inflation. Factoring in school fees, uniforms, transport, meals, and other learning costs, the total expenditure over a child’s schooling life can be overwhelming if not planned for in advance.
Whether you are considering public or private education, primary or tertiary studies, the earlier you start saving, the better.
Why Start Saving for Education Now?
If you begin saving when your child is born, you’ll have several years for your savings or investment to grow before they even start school. By the time they reach high school and begin thinking about university, you’ll have built a strong financial foundation- especially if your investment has compounded over time.
The best time to start saving was yesterday.
The second-best time is today.
The Cost of Education in Kenya – A Closer Look
On average, parents in Kenya can expect to spend:
KES 30,000 to KES 60,000+ per yearfor public primary and secondary schools
KES 150,000 to over KES 500,000 per yearfor private primary and high schools
KES 100,000 to KES 300,000+ annuallyfor university or college tuition (depending on institution and course)
Other additional expenses include:
School uniforms
Textbooks and learning materials
Stationery and supplies
Transport
Meals
Boarding or accommodation (if applicable)
Extracurricular activities and school trips
Private tuition or extra coaching
Not all students will qualify for government-sponsored university slots or bursaries like HELB, so planning for out-of-pocket payments is crucial.
How Can I Save for My Child’s Education?
Old Mutual Kenya offers a range of education savings plans and investment solutions designed to help you prepare early and consistently. Our qualified financial advisers will help you choose a plan that fits your income level, lifestyle, and long-term goals. Use the available Education Calculator to estimate how much you’ll need in the future, and start building your plan today.
5 Tips to Ease the Stress of Education Planning
Identify target schools early – Know where you want your child to attend (public vs private, local vs international).
Estimate total cost of education– Include inflation and hidden costs like transport and uniforms.
Get professional financial advice– Speak to an Old Mutual adviser to find the best solution for your needs.
Review your plan annually– Life changes; adjust your savings and goals accordingly.
Start now – Don't wait for the “right moment.” Every month counts.
For more information, visit:
https://www.oldmutual.co.ke/personal/solutions/education-plans
Or talk to one of our expert financial advisers today.
