Posts Tagged ‘education plans’
Saving the Way to College sans Education Plans
Saving the Way to College
by: Kendrick Chua, the Wealth Warrior
First appeared in May-June 2009 of Money Sense. Was also my first paid article
Norma (not her real name), who is connected to one of the biggest educational plan providers before, can’t help but cringed when I asked her how people are reacting now towards educational plans. Her facial expression mimics the sentiments of her clients and their more subtle way of rejecting her.
Twenty years back, it was unthinkable that education plans will now be received with hostility. When educational plans were first launched, they were a much sought-after investment instrument by the public. After all, education is one of the major financial priorities of Filipino parents and the burden of a forthcoming college education cost is no laughing matter.
Tags: education plans, life insurance, Mutual Funds, stocks
The Armageddon of Preneed Companies and the collapse of Education Plans
The Armageddon of Preneed Companies and the collapse of Education Plans
by: Kendrick Chua
If you’re in your late twenties, chances are you were a product of CAP and PEP Plans or knew someone who was. It was even joked during those times, “CAP ang nagpa-aral sa akin.” It was very fortunate for them. Several years later, the tides have turned. No longer can the scholars avail of the promised tuition grants and if they were, it was way below the expected amount. The sentiments then went something like this, “Dahil sa CAP, kaya hindi ako nakapag-aral.”
In 1988, the Philippines was introduced to the concept of Education Plans. With the looming cost of college education, it was a product that was deemed ‘perfect’. This was pioneered by the bankrupt College Assurance Plan which back then, seemed to be one of the largest financial institution and failing was just unimaginable.
Tags: education plans
