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Not just an education, but a great education

Education is more than just formal schooling

A great education is about more than tuition, it’s about a great experience that prepares children for the future.

No matter what your child chooses to pursue, education can come at a significant cost and the cost is continually rising.

Allow for changes in circumstances as your child develops and meet the costs with a flexible savings plan.

Estimate the cost of your child’s education

My child is and
will attend

approximate total cost:

Customise this calculation

What makes up the cost of a great education

Basic education costs can include tuition fees, as well as uniforms, text books and stationery.

Education is not just about learning in a classroom. The educational journey can extend outside a traditional learning environment. Experiences such as learning a musical instrument or studying abroad can be expensive, but the value they bring can be vital to a great education.


  • Tuition fees
  • Text books
  • Uniforms
  • Personal tutor
  • Musical instrument
  • Studying abroad

Need more information?

Call 1300 617 670

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The Education Savings Fund

The Australian Unity Education Savings Fund is a flexible and competitive scholarship plan with potential tax benefits and features designed specifically to maximise education savings. The product is issued by Lifeplan Australia Friendly Society Limited, a wholly owned subsidiary of Australian Unity Limited.


Choose how to invest and how to spend – education is more than formal schooling and expenses are more than tuition fees.


Circumstances may change, as may your child’s education plan – withdraw money from your account at any time for any purpose.

Return on Investment

With the opportunity for strong return on investment and no setup fees, you can also maximise your investment with our tax concessions.

A little now can mean a lot in the future

Why should I start saving now ?

Knowing the total cost of an education can be overwhelming. And with uncertainty around the education path your child may take, this can make funding an education difficult.

The unknown nature of educational expenses is reason to start saving early. While you may not have much to put aside now, starting small and making regular contributions builds your savings over time and can ease the burden of the expenses when they come.

Calculate your saving plan

A scholarship plan can be a great solution

How can I save for my child’s education?

There are many options that can enable you to save for a child’s education. When deciding you should consider potential risk and return and how easily you can access those funds.

A scholarship plan generally provides a choice of investment options with varying levels of risk and return potential. Scholarship plans also have unique tax features that are not generally available to other savings and investment products.

There are pros and cons for each savings strategy depending on your personal objectives, financial circumstances and needs. The below table is designed to help you decide between common education savings strategies.

Person considering risk and return, tax and feed and easy access to money
Savings account Term deposit Mortgage offset account Education fund/Scholarship plan
Potential return Low Low Low Vary depending on investment mix
Potential volatility None None None Low to high depending on investment mix
Choice of investment mix None None None Many
Access to money Yes Yes but with penalties
Yes Yes
Fees Low Low Usually nil
Tax benefits No No No Yes

Important Information

© The Australian Unity Education Savings Fund (‘Lifeplan Education Bond’) is issued by Lifeplan Australia Friendly Society Limited ABN 78 087 649 492 AFS License number 237989 (‘Lifeplan’), a wholly owned subsidiary of Australian Unity Limited ABN 23 087 648 888. Information provided here is general information only and current at the time of publication and does not take into account your objectives, financial situation or needs. In deciding whether to acquire, hold or dispose of the product you should obtain a copy of the Product Disclosure Statement (PDS) and consider whether the product is appropriate for you. A copy of the PDS is available at or by calling 1300 617 670. Investment decisions should not be made upon the basis of past performance as this is not a reliable indication of future performance.

Any tax information provided here and in any disclosure documents is general in nature and is only intended to provide a guide on how tax may affect investors. Tax laws may change in the future and may affect an investor’s tax position. Investors should seek independent tax advice relevant to their particular circumstances.