Heritage Education Funds - Heritage RESPs

Never thought that such a scam could exist in Canada, deception, as it appears, from day one and through maturity and repayment process. Never mind the unjustifiably low returns over the life of the plan (17 years) averaging about 1-2% annually, a far cry from the advertised rate of 4-6%, which is also lackluster, but, hell, 1% is outrageous. I gave a 1 star, but they really deserve a negative rating. Never-never touch these guys!

I wish I had saved my money on my own instead. The sales and membership fees are exorbitant and your money is not safe should you need to quit the scheme for whatever reason. You will be paying these ridiculously exorbitant fees upfront for the first few years out of what you think is being saved for your child. Should you stop the scheme, this money will NOT be refunded. The sales people do not tell you this, or they minimize it. You've been warned. Save on your own or with your bank or credit union where your money isn't simply lining a sales representative's pocket.

We invested in this plan once our second child was born. With the contributions we made it was projected to be twice as much as we received. We would have been better off investing in any GIC. We didn't even keep up with inflation. The scholarship options they told us about and were supposed to be significant were minimal at best. I invested the first three years for my oldest in a mutual fund and that performed great. Don't waste your time with Heritage. It is a complete ripoff! You are much better off investing in mutual funds or any other safe investment.

Invest rather in GIC or stocks. I paid in for many years. I have a hard time to get the money, it's half of what was promised. This is the worst of all my investments with the poorest return. On top of it I have to fight to get the money that should be mine in the first place!

We saved up for nearly 18 years, only to find out that our return is actually less than we put in. We were promised double what we put in, I expected to just get 1.5 of what we put in, pretty disappointed to find out it is actually less than the amount we "saved". They pretty much steal the amount the government is putting in, so basically you miss that whole amount. It would have been better to put it in a sock onder our mattress, because we didn't even get intrest if you do the math. If we would have put it in a piggy bank we would have more, because we would still be able to apply for government grands. What a scam!

Bad company i ever seen. Poor performing. Management fees is so high. I cant take money back bcoz i will loose big amount just bcoz of management fees.
Never never approach heritage resp.

Hi, I'm an 18 year old student going into my first year of University. I hope that all parents actually take this review to heart. My parents have been saving up money for me to get into a university. It was there dream since the both of them have never gone to university. My parents both have a low income, so saving up all those years with aspirations for their daughter to have a good education and a bright future was all that they cared about. I finished my final credit during summer school (after I graduated) and I was supposed to get my transcript to my university, so that I could get an enrollment verification to give to RESP. However there is a deadline, and in situations like these it's nearly impossible. So I didn't get my enrollment verification in on time, and in fact it was after the deadline. So it was part of the deal that RESP doesn't need to give you 100% of the money you've been putting into the plan all these years. All that hard earned money goes to them. And I feel so guilty as I see my parents so upset, and we're struggling to get money to pay off all my debts. Honestly please don't do this. I hate to see other parents suffering in the same way as my own. And if you're thinking. "Oh well I'll get my child to finish so and so earlier." Or "I'll just prepare so that this doesn't happen" DO NOT think that way. It's mostly up to the child and how they learn and grow, that determines whether or not they will actually get the money, because there are so many ways for you to not get 100% of that money. I honestly suggest that all the money is put into some bank account. Please don't make this mistake.

Lier and fraud. Do not ever never put money there because you will lose it all due to high management fees. I am so upset