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Published on: 11/13/2007
Last Visited: 11/13/2007
Speaking to the media yesterday to officially reintroduce the savings programme, HEFI Chairman Jason Maguire said they want all parents to become acquainted with it for the sole purpose of becoming financially set to send their children to a college or university of their choice.
Maguire said no matter how much a parent is willing to save, putting a little aside today means a lot in the years ahead for when the child is ready for higher learning.
HEFI has been around for 42 years and for 15 years in The Bahamas.According to Maguire, the organization currently manages $84 million in international business and $1.5 billion in their Canadian business.
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"We work through our representatives who will come and meet the parents and present the information of the plan," Maguire said."Parents also work out how much contributions they intend to make, so it is a very simple process."
Maguire said the plan does work as today, millions have been placed in the hands of children to cover the cost of education.He added that with the cost of college education going up every year, parents have to be wise and put aside amounts that will help to cover what tuitions would be like in the future or over the next 14 - 16 years.
Anyone can sign up for the savings programme.The only requirement is to keep making the monthly contributions and when the child is ready for college, he or she need only have a minimal passing grade to a recognized institution anywhere in the world.This also applies to online or distance learning institutions.
Interested parents can make out cheques with their contribution amount, have the amount debited from their savings account or if their work place allows, have it deducted from their salaries every month.
In fact, Maguire said HEFI has teamed up with several large businesses in the country to allow funds to be deducted from their employee's salary to go towards their children's education.
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Pictured from left to right are: Philip Franks, Heritage International associate agency director for Grand Bahama; Barbara Major, Heritage International agency director; Sherrica Pinder, administration assistance for Education Solutions Ltd.; and Jason Maguire, chairman of Heritage International.
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