BANKING AT SCHOOL

Start a lifetime of savings education

The Commonwealth Bank is committed to educating young Australians. Student Banking teaches children how to develop good saving habits at an early age and assists schools to raise extra funds for school initiatives.

For your children
Student Banking encourages primary school children to save their money and watch it grow. It's easy - children can open up a Youthsaver account and make regular deposits while they're at school.

Processing the deposits is quick and easy. A volunteer from the school collects the money and enters each deposit into user-friendly, internet-based Windows software which is provided by the Bank. This is balanced and electronically transmitted to the Bank.

The volunteer then makes a single deposit at the nearest Commonwealth Bank branch or Australia Post outlet.

Club newsletters
As a regular user of their account, your child will receive exclusive club newsletters and benefits from us.
Dollarmites Club for under 10s
Rule for 10 to 13s
for 14 to 17s
For their school
It's not just the students who benefit - participating schools will also receive:
$5 for each new Youthsaver account opened
5% commission for each deposit (up to a maximum of $10 per individual deposit)
Minimum commission payment of $25 per quarter (provided at least one deposit is processed in the quarter)

School visits
Commonwealth Bank branch staff visit nearby primary schools to talk to children about the basics of money and teach them the importance of regular saving. They also discuss Student Banking with principals and volunteer coordinators and how they can implement and improve the program at their school.

To register your school, simply call the Student Banking Helpdesk on 1800 674 496, from 9am to 4pm (Sydney time), Monday to Friday. You will be mailed the relevant forms and information to get you started. The Helpdesk can also answer any questions you may have about Student Banking.

EDUCATION SAVINGS PLAN

An Education Savings Plan is a purpose-built savings and investment solution for your child's education.

An Education Savings Plan lets you prepare now for the costs of your child's education. And since a quality education paves the way for your child's future, it's one of the greatest gifts you can give them.

A purpose-built solution

The Education Savings Plan has been specifically developed to help fund children's education.

It can be used to build a financial nest egg to help pay for a lifetime of education, including:
primary (including pre-school)
secondary
many tertiary courses (including TAFE), as well as special needs education in both Australia and overseas.

Unique tax savings

The Education Savings Plan offers a valuable combination of ease of use and flexibility, with professional investment management.

Operating as a 'scholarship plan' under tax laws, the Plan may offer certain tax advantages not generally available with other savings and investment products.

Anyone can contribute - parents, grandparents, uncles, aunts, godparents can start a Plan: in fact, basically any person who wishes to contribute towards the education expenses of someone they care for.

The surprising costs of raising children

While one can't put a price on the joy of having children, the costs of raising them can be sobering for any parent.

Even economists struggle to determine the figures, but the Australian Institute of Family Studies has estimated that your average 10 year old costs $190 a week.* And that's before additional expenses such as holidays, new furnishings or a private education - or even a music lesson. Teenagers, of course, are even more expensive.

When you consider the years children live at home, the expenses of each child can easily amount to a quarter of a million dollars - and this excludes education costs!

A better future for your child starts here

Given the cost of quality education, delaying thinking about how you'll afford it until you need to face it, could result in your children's education being less than what you wish.

An Education Savings Plan helps you to plan for a child's education expenses with confidence and peace of mind, knowing you are prepared.

It's not just sensible and practical. It's also the gift of a lifetime.

Learn more about the benefits of an Education Savings Plan.
Click on link: http://www.commbank.com.au/personal/investments/education-savings-plan/default.aspx