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scholarships group Lock Rss

hi everyone
Has anyone else been approached by Australian Scholarships Group? Its like a savings plan where you contribute a small amount until child finishes primary school, then you get it back in yearly amounts to help with secondary and tertiary costs. Sounds like a good idea but just wondering what others think? i'd appreciate anyone's views


Hi Margie,
I Actually inquired about the scholarship group myself cause ide heard of it. We looked into it with great detail and decided it was fantastic. Basically you get back all the money you've contributed from payments made to you in their secondary schooling and then if they go onto tertiary studies(doesnt have to be uni, could be tafe or colleges) they(the Kids) then get yearly payments to assist them with their cost.The payments you have to make actually stop when they are 12, so the earlier you start the better cause the older they are when you start the mor you will have to contribute to catch up. All the payments our kids get are interest on what we have contributed. It will really help us to save and the money we contribute is tax exempt. I know for sure that when Sam is older we will be so glad we have done this. You probably know all this but i just thought ide include it . We personally feel its going to fantastic.

Liz,Mum To Sam 09/01/05

i have also heard that you dont get your money back if they dont go to uni... which isnt the best deal in the world. i think i will do my own contribution to my little ones schooling. -Kayden 31.1.05 & Tianah 25.8.06

Hey Margie,

I left my details at one of the baby's expo for that group, a guy came ot to talk to us and after asking a lot of people about it and looking into some other groups it really doesn't seem that great, there are lots of hidden catches they don't tell you about unless you read the fine print and ask questions. you start by paying money into it now, and it doesn't start paying until they go to high school, in the first 4 years of high school you only get a couple of hundred dollars aback out of the couple of thousand you put in. it doesn't start to pay really until they finish school and go onto uni, but if your child donesn't do further study or they don't go through until year 12 you don't get the money and it ends up being just overf 8000 a lot of money wasted if they don't go to uni or tafe cause not all private courses and apprentiships are covered. Try the commonwealth bank they having a savings plan similar but non of the bull catches the ASG has, you can put in as much as you like and pull out when you want and if your child doesn't go through to uni or what ever you are still going to get the extra 8000 you have in there no matter what. The ASG is run by parents and has no government involvment why cause its a scam and no government organisations will touch them! 8000 a lot to gamble!

Erin, NSW, Charlie 2years, Hannah 1 year

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