US $34.7 million paid out to Subscribers and Beneficiaries of the Heritage International Scholarship Trust Plan in the Bermuda market
Heritage Education Funds International (HEFI), LLC is a leading provider of at helping families in Bermuda save for their children’s college or university education. Through the Heritage International Scholarship Trust Plan, HEFI, LLC has proudly assisted hundreds of students in Bermuda with their college or university education
Bermuda, October 25, 2013 - Heritage Education Funds International LLC is proud to provide continued financial solutions for families in Bermuda who seek a way to save for their children’s post-secondary education. With the assistance of their Heritage International Scholarship Trust Plan hundreds more students in Bermuda will be able to realize their college or university education.
“Heritage’s goal is to deliver a safe and flexible solution for parents who seek a way to financially assist their children in pursuing post-secondary education” said Jason Maguire, President & Chief Executive Officer of Heritage Education Funds International, LLC. “Subscribers contributions are safely invested in US dollar denominated fixed-income and government-issued investments, which we feel is a major feature of our plan”. The Heritage International Scholarship Trust Plan, as of September 2013, has provided returns averaging 7.47%, and has paid out US $34.7 million in savings and educational assistance payments (“scholarships”) to Subscribers and students since inception of the Plan in Bermuda Over the past five years more than US $19 million have been paid to families in Bermuda.
According to the US College Board*, the average annual cost of tuition and fees combined for the 2012–2013 school year was $29,056 at private US colleges, $8,655 for state residents at public colleges, and $21,706 for out-of-state residents attending public universities. International students typically pay out of state fees, meaning that a four year degree programme currently costs as much as $86,824 USD. Tuition costs continue to rise, averaging four to six percent increase annually and if this trend continues, in 10 years tuition will be over $150,000 for a four year degree programme.
Heritage continues to assist families in Bermuda in building a brighter future for their children. We would like to thank all of our Subscribers for their commitment to their children’s future; we are so proud to be part of the journey in making your child’s dreams come true.
Any child under 14 years of age may be enrolled with the Heritage International Scholarship Trust Plan. Those interested in obtaining more information about Heritage Education Funds International, LLC and Education Savings Plans, please visit www.HeritageESP.com or contact:
Gerry M. Swan
Heritage Agency (Bermuda) Limited
Address: Washington Mall 1, 20 Church Street, Hamilton HM 11, Bermuda
*Statistic source: ColllegeData, 2013 Heritage Agency (Bermuda) Limited is the distributor of the Heritage International Scholarship Trust Plan. The Heritage International Scholarship Trust Plan is sold by prospectus only.