Australian Scholarships Group (ASG)

Signed up to a plan that would fully pay my kids school fees at secondary school. My son has just finished yr12. Didn’t even get half the fee every year after paying a fortune in plus a bonus once for 11yrs. Daughter was at the same rate from birth. Even less. Third child we did a cheapie pack ending after yr 6 as they all did. We have had to… Read more

fight to get them to stop TAKING out fees. We have told them multiple times we did not sign up for uni. No more fees. They don’t stop. We put in $8.5k to just under $10k a yr. Most we got back for a year was about $6.5k. Scam I agree. Open a bank account and save. Instead of helping us , they nearly broke us.

terrible experience and no accountability at all with least benefits.

ASG is the least transparent financial institution I have had the misfortune of being a customer of. If you chase them for information good luck. Customer service is effectively non-existent. Saving for your childrens' school and university fees is a very good idea. Just buy into the most basic Unit Trust from your local bank every month instead. More transparent and even with tax you will probably do better than ASG.

Not impressed with my choices here – I used Asg for a long time starting when my children were each born. I paid around $156 each year each child. I received the progress payments when the kids went into uni, that part went ok and granted it helped marginally with incidententals not very. The birth date proved a challenge for one child born in January, they would not pay the first… Read more

year of progress payment instead made us wait another year. When a smooth talking dude convinced us to use pathways this time. He worked out we had received so much under the uni scheme only because our kids were academic and went on to uni, had they not we would have received nothing back. The pathway investment was not relying on education choices it could be used for everything. Paid $3000 each child had it there for 9 years 1 child got married I needed the money I took out only the amount we paid in$3000. I got an email saying only $2,600 was put in by us and $400 was from earnings. I sent back our statements with the receipt of what we paid. No sorry that's all part of the fees you agreed to they said. I have now closed the accounts and I got a total of $300 back for all children (combined) of earnings plus the $3000 each I put in. How's that for 9 years of holding several thousands! A bank account would service way better. DON'T DO IT! Thieves.

Paid into it more then they paid out – Paid in it for 13 years, and last 5 years of that I struggled financially after my wife passing away but kept paying thinking I was doing the right thing by my daughter, but no, I paid way more into it then they paid out, please do your research before using this company.

Fraudulent, misleading, thievery – For a smart person, I certainly made a stupid investment here. I paid thousands into this supposed scholarship with promises that never eventuated. For the money I sunk into the investment over a 12 year period, I saw a maximum of $7000. Not everyone goes to university or TAFE these days and if they choose not to, they don’t give your money back.… Read more

Had I have put that money into a bank account and let it sit for the past 7yrs I would have been in a far superior position to help my son pay for his study needs, his trade uniform or whatever else it is that he wanted to do in life. Bitterly disappointed. Cannot warn people of this company strongly enough.

Scam. Don’t even go there – Do not invest with them. Not worth it all. It’s a scam. They will use your money to get benefit for themselves. No benefit is transferred to you. A highly non transparent fund. They will never tell you how much profit has the fund made and how much is transferred back to you. If you are with them, highly recommend, removing the money and putting it in your offset account.

It's a scam! – I used it for 4 years and didn't gain anything. I stopped putting money in it and they closed my account without even asking me.

misleading sales pitch – way back in the early 2000s via our local primary school introduced to ASG and Roz C. came a calling and pitched her speel it sounded logical but I should have listened to my "spidey sense" when I mentioned that 2 of the 4 children probably won't end up in UNI but TAFE doing a trade course as an apprentice.. was TAFE covered?... the response...… Read more

looking back now was vague to say the least :"any 3 year course"... neither children who did end up in TAFE received their scholarship money... and when I complained I started having login/access issues... I see they rebranded and call themselves Futurity... I would be wary dealing with them and asking for written clarification ... :-/

No where near actuarial calculation – I bought my daughter a secondary & tertiary plan when she was 2 months old. The actuarial estimate looked great but when it was time for ASG to pay up, they paid a tenth of what they were supposed to pay. WhEn i queried, they blamed on global financial crisis more than 5 years before. So, if you know how to save you can invest your money somewhere else Can not recommend

ASG financial policy is very strange and not beneficial – ASG is not a good company for future investment due to (high) various administration charges and very strange financial rules that take your investment benefits and share with other members. Not recommended for anyone.