ASG Education Program

Australian Scholarships Group Education Program Review
Review Roundup: For a reasonable fee, the ASG Education Program can manage the saving for your child's education.
RRP: $0.00
Pros:
  • helps you financially support your child from secondary to tertiary education
  • lots of resources to encourage further study
  • reasonable fees
  • not for profit organisation
Cons:
  • all financial investments carry a risk
Tags: Resources | Australian Scholarships Group
Review

Design and Features

Basically you make a contribution to the ASG Education Program of about $13 (indexed at 8% p.a.) a week until your child is 12. From 12 the principal is paid back to you over high school years to defray education costs.

The interest earned is pooled and paid as a 3 year scholarship to children who progress to any Australian Government approved higher education provider (including overseas) within two years of finishing high school.

You can also choose to supplement the fund for additional primary, highschool or tertiary scholarships.

In addition to the scholarships the Australian Scholarships Group also provide information on education and a very hands on approach to career counselling for kids once they hit high school.

Performance and Drawbacks

First of all, I’m not a financial adviser; you should always read the product disclosure of any financial service before you buy it and seek professional advice if you require it.

What I can tell you is that the interest earned on an education fund is taxed at a concessional rate and scholarships are not counted as income for taxation purposes.

The Groups investment strategy is conservative to minimise risk, fees are reasonable and all profits go back into the services it provides to parents.

Conclusion

There is a lot more to the Group and its services that I can outline in this review so if it sounds like an arrangement that may suit you go to the Australian Scholarships Group website and/or organise a home visit.

About ASG

The Australian Scholarships Group is a not for profit Friendly Society. They offer a range of education funds with an emphasis on encouraging and supporting children through tertiary education.

Established in 1973 they have 37,000 members and $1.5 billion in funds.