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Why ASG?

How to save for education

There are many options available when it comes to saving for education.
Selecting the right one for you can make a big difference in helping you reach your goals.

Education savings funds provide both flexible and disciplined ways of saving and also have unique tax benefits that may not be available with other savings and investment products.

It is important to consider your personal and financial circumstances when selecting an investment strategy.

The table below compares a range of common savings and investment products to help you decide on the best option for your savings objectives.

 Bank Account
Term deposit/target saver account
Mortgage redraw
Managed fund/unit trust
Insurance bond
Education Saving Plan
Earnings Potential
LowLowMediumLow-High*Low-High*Low-High*
Risk volatility
LowLowLowLow-High*Low-High*Low-High*
Cost
LowLowLowMediumMediumMedium
Tax effective
Taxed at individual marginal rates. Could be as high as 47%
Taxed at individual marginal rates. Could be as high as 47%
Taxed at individual marginal rates. Could be as high as 47%
Taxed at individual marginal rates. Could be as high as 47%
30%30%
Timeframe
1-3 years1-3 years1-10 years+3-10 years+10 years+3-10 years+
Specific for education
NoNoNoNoNoYes
Education resources
NoNoNoNoNoYes

Ready to start saving?

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Australian Credit License 236665

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