Many of you reacted or voiced certain concerns in response to the recent media reports about the changes to the qualification criteria for educational assistance payments from our REFLEX and UNIVERSITAS plans.
We first wish to remind and assure our clients that we always guarantee a 100% refund of the savings they invest; the easing of the criteria has not changed this commitment to you. As an added benefit, you can now access 100% of the grant money in your RESP account as soon as your beneficiary enrols in a post-secondary program.
Also rest assured that these changes were proposed because they were in the best interest of the vast majority.
An increasing number of families were calling for more simplicity and flexibility when claiming educational assistance payments (EAPs).
As a non-profit organization, the Universitas Foundation mission has always been to promote and encourage access to post-secondary education for all types of school careers pursued by our student beneficiaries, and these amendments confirm our desire to stay true to our vision.
As a result of these changes, 100% of our beneficiaries will be able to claim all their EAP funds upon enrolment in a post-secondary program considered eligible under the Income Tax Act (Canada). This is great news for students, who will receive all the money available for their education when they really need it.
Under the former UNIVERSITAS Plan's criteria, students who enrolled in a vocational/trade school program, technical career program (CEGEP) or did not pursue a university education would only qualify for 1 or 3 EAPs instead of all 3 payments. This was the case for half our beneficiaries with this type of plan!
Since the easing of the qualification criteria took effect, we have received several testimonials from parents and grandparents expressing their satisfaction and peace of mind knowing their children and grandchildren will finally access the full EAP amount available for school, regardless of the academic path chosen.
For information about your RESP, you can contact our Customer Service at firstname.lastname@example.org or 1-877-710-7377.
Rest assured that we remain your family's partner and ally for the financial planning of your children's post-secondary education!