By Today Bermuda

December 01, 2014

Heritage Education Funds International today announces that the company has paid out US$3.62 million over the past year to Bermuda residents for post-secondary education.

Over the past five years, a total of $16.5 million has been paid out; $37.69 million has been paid out in savings and Educational Assistance Payments to families in Bermuda since the commencement of maturity.

Heritage Education Funds International provides a safe, high-performing and flexible Education Savings Plan (ESP), providing financial solutions for Bermudian families to save for their children's post-secondary education. The plan can be used to fund costs at any recognised college or university worldwide.

Heritage provides consistently competitive returns on investments and, as of September 2014, it has yielded returns averaging 7.18 per cent.

It is increasingly important for families to start early and plan ahead to cover the cost of post-secondary education. Education costs increase every year, with an average tuition increase of between four and six per cent annually. By the year 2020, four years of post-secondary education could cost as much as US$245,000. By 2028, it could rise to as much as US$350,000 or more.

Jason Maguire, President and CEO of Heritage Education Funds International says: "With rising education costs, the prospect of tuition fees can be daunting for many families. But cost shouldn't restrict our children from getting the education they deserve. At Heritage, we are dedicated to helping families prepare for this cost. We are proud to offer safe and flexible solutions that enable families to send their children to the institution of their choice to build a solid future for themselves."

Children from as young as a baby to 13 years old are eligible for enrollment in a Heritage Education Savings Plan (ESP). For more information about Heritage Education Funds International and ESPs, please visit www.HeritageESP.com or contact Gerry Swan, Agency Director on 296-8528 or email Gerry_Swan@Heritageesp.com.