ASG creates a new education pathway for families

10 August 2015

Australian Scholarships Group (ASG) has launched a new education savings plan designed to help parents and families to offset the costs of education at any stage of a child’s development.

The Pathway Education Fund (PEF) offers families and parents a versatile plan to suit the specific needs of each child up to age 19, giving them the confidence that they will have the funds available to help support their children through the most important years of their life. The plan also allows members to change their nominated beneficiary to anyone aged up to 24.

“This new education plan resonates with what parents and families need. It also builds on our existing education funds and resources, adding a solid offering to our diversified and holistic education services.

“What makes the plan different is that it also recognises that each child has a unique education journey, and it is deliberately designed to be versatile enough to adapt to a child’s potential and aspirations as they grow,” says John Velegrinis, ASG’s chief executive officer.

The PEF, like other ASG education plans, is classified as a scholarship plan under Australian tax law. This means that ASG can claim a tax deduction on certain benefits it pays to members, and as a result increase the amount available to members for educational purposes.