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Top 7 Questions to Ask an RESP Provider

On August 15, 2018, Posted by , in Education, With No Comments

There have been many changes to the Registered Education Savings Plan in recent years. Likewise, there are many institutions offering this plan and you can ask a experts like Heritage Education Funds. So before committing to any provider, these are some questions you should ask.

1. What Are the Fees?
Often, many people disregard this question. Registered Education Saving Plans come with many different fee structure and costs. It is essential to know this beforehand, so you don’t get trapped by extra fees that drain your Heritage RESP earnings. Do your research and choose an institution that offers the lowest charges.

2. What Will Be My Total Earnings?
This is another important question you must ask. However, your total earnings depend on the total amount of money invested.

3. What’s My Minimum Contribution?
Your provider should be able to answer this question correctly. There are many ways to arrive at the amount you need; however, it must be tailored to your specific budget. Remember, this is not a one-time setting. You have a chance to review it every three years as you deem fit.

4. What If I’m Unable to Meet the Contributions?
There are times when situations might change for the worse. Ensure you’re prepared for the worse while expecting the best. You don’t want to get locked in and be forced to pay a fee if you can no longer make contributions. Many companies will penalize you if you stop your contributions. To avoid such an unpleasant situation, ask this question.

5. What Happens If Your Company Goes Out of Business?
Sure, this question sounds odd, but its importance will be clear to you if this eventually happens. If you are getting to know the provider, it is imperative to know what happens if they are no longer in the business. What happens to your investment? Do they have any provisions in place? Their response will determine whether or not they are worth building a business relationship with.

6. What Happens If I Am Not Satisfied With Your Service and Decide to Take My Business Elsewhere?
This is another crucial question that helps you understand what you are getting into. The truth is things don’t go the way we expect sometimes. There may be an instance when you are no longer happy with a particular provider due to poor service, and you may want to transfer your earnings to another institution as Heritage Education Funds. So, you need to know what it will cost you to do so. Many parents have had to pay several hundreds of dollars in penalties to get out of such a contract. Don’t get caught in the same web.

7. What Type of Plan Is This?
Keep in mind that there are many different types of plans available including individual, family or group. You can choose one that best suits your needs. Keep in mind that each plan has its own unique pros and cons, and each option should be discussed before you make a final decision.
When shopping around for a provider who specializes in RESP, be sure to ask these questions and do your research.

What to Look For in a Business College

On January 2, 2017, Posted by , in Education, With No Comments

Soon after you have made the decision to go back to school and earn a business degree comes the incredible challenge of sorting through the options to find the right business college to attend. There are numerous colleges in most states that offer business degrees, and with the increasing popularity of online degree programs, you can look in all 50 states for the right business college to attend. While there are many colleges to choose from, you understandably want to make a wise, informed decision before you enroll. The decision you make can influence your quality and cost of education, your educational experience and other factors. Your attention on these points will help you to narrow down your options to make a better overall decision.

The Right Degree Program

From digital marketing and accounting to business management, finance and others, there are a wide range of business college degree programs that you can consider, but different schools offer different programs. Your degree program may impact how easy or difficult it is to earn the degree as well as your job opportunities and your earning potential after you graduate. Take time to analyze the choices as this is one of the most important decisions you will make regarding your business school experience.

An Affordable Tuition

While you initially want to narrow down the school choices based on the availability of a desired degree, you need the school to be affordable for your budget. You may need to apply for a student loan before you can accurately determine which school is most affordable for your budget, and you can also narrow down your options by making an online comparison of tuition rates. Pay attention to other related educational fees as well to make a more informed decision that is affordable for your budget.

The Educational Experience

While these two factors are important, enough cannot be said about the significance of a desirable educational experience. Most importantly, look for a school that offers the type of courses you are most interested in taking. Many working adults, for example want to take online courses or evening courses, but not all business colleges offer classes in these formats. You may be able to further narrow down your options by focusing on this factor.

The decision about which school you attend to earn your business degree may be based in large part on these factors, but other factors may also come into play. For example, the reputation of the school and the quality of the professors is also important. As you compare the colleges that most closely meet your needs, keep Canadian Business College in mind for the best experience.

Image Credit: UNC

 

Addressing Canadian Physician Shortages: Is Caribbean Medical Schools the Solution?

On November 22, 2016, Posted by , in Business, Education, With No Comments
Gaining admission to any medical school in Canada can be very challenging. Fewer than half of applicants are accepted in Canadian medical schools annually. Although many of the applicants have the skills and ambitions to become effective physicians, tens of thousands of them are still being rejected. Even with the shortage of physicians in various health care facilities, there are still limited admission slots in the country’s medical schools. The result is persistent shortage of physicians experienced in the country.

Nonetheless, there is a viable solution to the problem: increased recruitment of Caribbean medical schools graduates, most of whom have the same qualifications as their Canadian counterparts. Here are few reasons why increased recruitment of graduates from any accredited Caribbean medical university can be the proverbial silver lining in the Canadian health care problems:

Affiliation with Clinical Programs In Canada

Many Caribbean medical schools are already affiliated with a wide range of clinical programs in Canada. In fact, there are usually slots that are reserved for Caribbean students annually. What’s more, following a recent survey of various Caribbean medical schools, graduates from these institutions can compete effectively in both the United States National Residency Match Program (NRMP) and Canadian Resident matching Service (CaRMS), which means that they are qualified to practice in either the U.S or Canada.

Holistic View of Admission Decisions

In Canada, MCAT scores are very crucial in terms of admissions. In contrast, Caribbean medical schools consider other factors before making admission decisions. Most of them take holistic view and understand that many qualified students may not excel in standardized tests. The medical schools, therefore, provide opportunities for students who would otherwise be denied admission chance. These medical schools, therefore, provide a great source for qualified physicians that Canadian health care can leverage on mitigate their physician shortages.
Accelerated Programs

Caribbean medical schools offer accelerated programs, giving students an opportunity to clear their medical courses earlier. By shaving close to 2 years off a normal pre-med program, the students are not only given a chance to save but also to begin their career works early. There are many other benefits that are associated with accelerated programs, key among them is the fact that it makes it possible for young physicians to accept comparatively lower salaries for GPs in Canada. With unprecedented waiting lists of specialists and GPs in Canada, any way of getting qualified doctors quickly and at considerably lower costs should always be explored.

Bottom Line

Until Canadian medical schools reform their admission programs to include a greater number of qualified students, medical schools in the Caribbean will continue to be an important source of qualified medical practitioners—and remains a viable solution to current physician shortage in the country. Besides, some medical schools in the Caribbean offer veterinary medicine programs—another area where the country is experiencing shortages.