Supplementary Education Program
With the rising cost of education, parents and grandparents are increasingly looking for ways to ensure they have additional funds available to provide a broad scope of educational opportunities for their children or grandchildren.
The Supplementary Education Program can help you achieve this. Combined with The Education Fund, the Supplementary Education Program enables parents and grandparents to put aside additional funds for primary education (if the nominated child is aged under 2), or additional funds for secondary or post-secondary education.
How the Supplementary Education Program works:
- Enrol in The Education Fund, and then elect to take out the Supplementary Education Program for primary*, secondary or post-secondary benefits.
- Along with The Education Fund, make regular or lump sum contributions to the Supplementary Education Program. Regular contributions starting from as little as $15 per week (these are additional to The Education Fund contributions).
- Benefits are paid to the Member during the primary*, secondary or post-secondary school years, depending on when the benefit has been elected to be paid.
* Primary benefits are only available if the child enrolled is under 2 years of age.
Why Join?
- Tax Effective - As the fund is designed specifically for education it fulfils the requirements of a 'scholarship plan' under the Income Tax Assessment Act (Tax Act). This allows the fund to receive concessional tax treatment, which in turn optimises your children’s education benefits.
- Flexible – The program allows you the choice of contribution method and amount, with regular contributions or lump sum payment options.
- Extras - Access to a range of complementary services and discounted products.
- Family Protection - In the unfortunate event of the death of the family's major income provider, our Family Protection Program fully protects your children's benefits without any further contributions being required from your family.
- Peace of Mind - This simple, disciplined approach allows you to have funds available throughout the various stages of your child’s education.
Find out more
To arrange a personalised appointment to discuss how ASG can help you save for the cost of education, please complete our online enquiry form or call us on 1800 648 945.