ASG Review:- Scholarships & guarantees for your children's schooling
ASG is a leading Australian scholarship group who help you invest your money in small amounts then pay it all back with interest in highschool and university.
What is the ASG?
The Australian Scholarship Group was created in 1974 as a non-profit group to help further the education of children in Australia. You can sign your child up and pay instalments that are then invested in medium to low risk ventures. When your child reaches highschool the group will start paying back the money, either in a lump sum or installments.
How long will I have to pay for?
You'll need to pay money into the fund until your child reaches age 12. You can pay the money in stlaments - weekly, monthly, yearly, whatever suits you. The earlier you register your child, the less the instalments will be. You can register them as soon as they are born, although they generally only accept children up till the age of two.
Visit the ASG Website for More Information
ASG - Australian Scholarships Group
Letting you invest in your child's future.
When will you get the money back?
Once your child starts highschool you'll receive all the money back, generally in yearly amounts. ASG also provides payments for three years of university.
Do I have to pay tax?
When the money is returned to you, since it's already your money and it's being used for education, you don't need to pay a cent. This also applies to your child - if they are receiving payments throughout university from the ASG, it won't change any student allowances they receive from agencies such as centrelink or change the amount of tax they need to pay if they are working.
How much do I need to pay in my instalments?
I registered my baby girl at 4 months old - we are paying about $50 per month into the fund. With the small percentage increase each year, based on the national inflation rate as well as the increase over time in school fees (the ASG will provide an estimated school fee list for all your local schools), we estimated we will be paying approximately $110 a month by the time our daughter is twelve - the year before she starts to see a return from the fund.
Within twelve years (including inflation) we'll have paid about $10,000 into the fund. For highscool we'll receive back about $10,000 and another $10,000 over the university years.
Reasons to Sign your Child/Children up for ASG
- The money is untouchable even if you go bankrupt - unlike a child's bank account.
- You receive more than you put in.
- It means that you give your child options in education they may not have otherwise had.
- You can spend the money in any way you please - anything from private education to computer items.
- If your child doesn't goto university you just get a lump sum payment back.
What proof is there that the ASG is legitimate?
The ASG is a registered investment group that has a history spanning over 35 years and are partnered with several well known community groups and charities. Many people have used them to fund their children's education with great results. I know of several families who now have grown up children that were helped through their high school and university years by the funds received from the ASG.