Heritage pays out $3.5m in Bermuda for education

The cash funds post-secondary education.

Heritage has now distributed a total of more than $24 million to Bermudians.

Heritage specialises in helping families save for college and university through education savings plans. Families can create flexible, long-term savings plans tailored to their individual financial situation.

Since Heritage’s launch in Bermuda, nearly 7,000 children have been enrolled in the plan.

Jason Maguire, president and CEO of the Heritage International Scholarship Trust Foundation and Heritage Education Funds International, said: “With an economy that continues to suffer, parents need more options than ever to ensure their children can benefit from a post-secondary education as inflation rises.

“We are proud to offer families one of the highest-performing, safest and most flexible education savings plans available.”

Heritage currently has more than $100 million in assets under management held in U.S. dollar, Government-issued guaranteed and fixed-income investments. The investment position yielded an 8.13 per cent one-year return as of September 30, 2010.

For a child born in 2010, it is estimated that a four-year post-secondary education abroad will cost approximately $200,000.

For more information about Heritage Education Funds, call Charles Jeffers on 296-8528 or George Smith on 295-3868.