Thursday, August 14, 2008

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

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