The Heritage International Scholarship Trust Foundation is a not-for-profit corporation, incorporated in 1983 for the purpose of encouraging and promoting the advancement of higher education by the provision of educational assistance payments initial caps Educational Assistance Payments ("scholarships") to children pursing post-secondary/tertiary studies.

The Heritage International Plan is a cooperative Education Savings Plan(ESP), established for the purpose of helping parents, grandparents and other interested individuals save towards the ever-increasing cost of a post-secondary/tertiary education. The Heritage Plan is a time-defined, goal directed, disciplined savings program for parents (or other sponsors) who contribute on behalf of children who are under 14 years of age at the time of enrollment. Subscribers save towards the first year of post-secondary education and the Heritage International Scholarship Trust Foundation provides Educational Assistance Payments (EAPs)/Scholarshipsscholarships (from the compounded interest earned on the Plan, as well as from the enhancement fund. It's that simple

Education Savings Plans since 1983. The Plan is currently offered in countries such as Bermuda, Bahamas, British virgin islands and Jamaica. Its sister organization, Heritage Education Funds Inc.,has been marketing Education Savings Plans in Canada since 1965.

When you enroll a child in the Plan you are purchasing "Units". The value of each unit varies depending on the age of the child and the contribution method you select. This means that the younger the child, the lower your contributions will be.

United States Dollars.

Our philosophy is to obtain the highest possible rates of return while striving to protect the principal value of the invested contributions. Gambling with our children's future education is not an option. Contributions are safely invested in US dollar denominated government bonds and investment grade corporate bonds from U.S. and Canadian issuers that earn a consistent and competitive rate of return. A portion of the income earned on contributions is invested in U.S.-dollar denominated Exchange-Traded Funds that track the performance of major stock market indices in the U.S. and abroad to further enhance returns.

The Heritage International Plan is not subject to the Non-Resident's tax of Canada. Tax is not payable by the subscriber on the return of principal (contributions less fees). The Subscriber or the Beneficiary should consult with their own tax advisor regarding the tax consequences for any interest that is earned and received on the Plan. Heritage does not warrant that payments made to or received from the plan will be treated as tax free in any country. Local laws should be consulted.

The Heritage International Scholarship Trust Plan provides for automatic postponement of and EAP/Scholarship for up to two years upon written request. Further postponements may be considered at the discretion of the Scholarship Committee.

The Plan may be used for another child, providing the substituted Beneficiary is the same age or younger than the original child. If there is no other child to take advantage of the this Plan, the Subscriber may request a full refund of all contributions (including membership and depository fees). The Subscriber may also continue to make contributions and at maturity select the Self-Determined Option.

You will receive a refund of contributions excluding Membership fees, less depository charges and insurance premiums, if applicable. The interest remains in the scholarship pool and is divided amongst all qualifying students entering college or university in the same year. You may also select the Self-Determined Option no later than 60 days before maturity. This feature allows you to receive a refund of contributions excluding Membership fees, depository charges and insurance premiums (if applicable), plus all of the interest earned on your contributions.

The Maturity Date can be advanced if your child becomes a qualified student prior to the year originally specified in the agreement. An interest deficiency may be required in order to ensure that each ESP contributes approximately the same amount of interest income to the Scholarship Pool as the other plans having the same year of eligibility. In the event that the Subscriber has elected the Self-Determined Option, the Maturity Date may be advanced if the student has been accepted into a Recognized Institution and no interest deficiency will be required.

A Subscriber has 90 days from the due date of the contribution to make the required contribution(s). Reminder notices will be sent after 30 days.

The Plan may be reinstated by a Subscriber at any time within three years after termination or the inactive period, provided that the child is, at the time of reinstatement, under 14 years of age or within 6 months after becoming inactive or terminated, if the child is 14 years of age or older (but not after the Maturity Date).

Additional units may be added at any time, provided that the child is still under 14 years of age.

In the event of a Subscriber's premature death, the Self-Completion Feature may provide for the return of the accumulated Principal upon maturity of the Plan and payment of three years of EAPs/Scholarships as if all contributions were made. To be eligible the Subscriber must be the parent, grandparent or legal guardian of the Beneficiary. (See the Prospectus or the Education Savings Plan Contract for full details.)

If a Subscriber is the parent, grandparent or legal guardian of the Beneficiaryand satisfies the requirements, in the event of total disability lasting more than 9 continuous months, all future contributions will be waived until recovery or completion of the Plan, whichever occurs first. Medical proof is required.

Anyone of legal age who wishes to help provide for a child's future education, including parents, grandparents, uncles, aunts, friends and godparents.

There is no easy way to answer this question as interest rates are not guaranteed; they vary, depending on current market conditions. Contributions are invested in U.S. dollar government bonds and investment grand corporate bonds of U.S. and Canadian issuers. Income earned on contribution may be invested in U.S. dollar-denominated Exchange-Traded Funds that track the performance of major stock indices in the U.S. and abroad. Income earned on contributions may be invested in equities to maximize returns. Our philosophy has always been to obtain the highest possible rates of return while striving to protect the principal value of the invested contributions.

This will not affect the benefits of the Heritage Plan. Tuition costs account for only a portion of post-secondary education expenses. The EAP/Scholarship cheques received from the Foundation can be used for other expenses aside from tuition. For example, room and board, books, a computer and software, special courses and travelling costs. Our EAPs/Scholarships are paid out to the student, not to the school, and may be used however the Subscriber and student deem necessary.

If the Subscriber opted to receive electronic delivery of correspondence, an email will be sent directing them to the corporate website where these documents can be viewed and downloaded.
You will receive:
• A welcome letter.
• An Education Savings Plan Summary that provides personalized information about your agreement.
• An Education Savings Plan contract and/or a Prospectus that outlines the legal aspects of the Plan.
• A Certificate of Enrollment – to hang on the child's wall, which certifies his/her enrollment and provides encouragement to attain this goal.

• It removes a source of anxiety for both parent and child. The financial constraints of pursuing a post-secondary/tertiary education are lessened and a decision can be made without fear of imposing an undue burden on parents.
• It provides a sense of comfort and satisfaction to know some prudent planning has been done for the child's future post-secondary/tertiary education.
• The child gains satisfaction and pride in the "vote of confidence" parents have in their future.
• Affordable and flexible contribution methods make for a worry-free investment.

The one-time Membership fee of US $110 per unit is deducted from early deposits. The Fee is used to help cover the administration costs and is non-refundable.

This cost varies depending on the course of study and the post-secondary institution of choice. It is estimated that a child born today could be paying more than US$170,000 for a four-year university program in the Caribbean Region.

We're so confident about the Heritage International Scholarship Trust Plan that we offer a 60-day money back guarantee. If during this initial period you are dissatisfied, we'll return your contributions in full, less insurance premiums if applicable. If you terminate after the 60-day period, contributions made will be refunded, less Membership fees, insurance premiums (if applicable), depository charges and any interest earned.

Institutions include recognized or accredited Universities, Colleges, Community Colleges, Technical Colleges, Religious Colleges in the United States, Canada, Great Britain and anywhere else in the world. The list is far too long to publish. Most libraries carry reference books that would advise you of such schools and information is also available on the internet.

A Beneficiary qualifies for the first Scholarship Payment upon enrollment into the second year of a program at a recognized institution prior to August 15, usually in the year in which he/she reaches the age of 19. The Beneficiary will receive his/her second scholarship if enrolled into the third year of study and and will receive the third and final EAP/scholarship if enrolled into the fourth year of study. The year of eligibility may be changed if a Beneficiary qualifies before the normal year of eligibility.