Helping to make kids' dreams a reality has been the focus of the Heritage International Scholarship Trust Foundation since it was set up more than 40 years ago.

Heritage yesterday announces that the company has paid out $2.29 million in Bermuda this year to fund post-secondary educations, bringing the total funds distributed to Bermudians to more than $18.9 million since its inception.

The company specialises in helping families save for college and university through its education savings plans, allowing families to create flexible, long-term savings plans that are tailored to their financial situation.

This week, Scott McIndless, chairman of Heritage, visited Bermuda to spread the word about the firm's work and meet with the Foundation's representatives.

The Foundation has helped thousands of Bermudians to get ahead in further education in the face of tough economic times and rising tuition costs and living expenses,

"At Heritage, our mission is to help parents help their children to become successful adults through the gift of post-secondary education - without the burden of relying on the government for student loans or corporations for bursaries, though they are helpful," he said.

"The cost of education is about more than just tuition. An increase in the overall inflation rate has caused food prices and rent to soar.

"Students must also deal with room and living expenses along with tuition. Parents are concerned about where the money will come from to pay for all these essentials.

"At Heritage, savings are invested in low-risk securities that earn a competitive and consistent return so that the money will be there when beneficiaries are ready to realise their post-secondary education dreams."

Meanwhile the financial crisis has not dampened Bermudians' interest in education savings, with Heritage reporting a 200 percent increase in sales of the company's education savings plans during the first 10 months of this year over the same period in 2008, putting it on track for a record year. To date, more than 3,100 children in Bermuda are now enrolled in the programme.

Heritage, which is based in Toronto and operates in a number of markets including Canada and the Caribbean, currently has more than $95.8 million in assets under management held in US dollar, government-issued guaranteed and fixed-income investments. The investment position yielded an impressive 8.78 percent one-year return as of September 30, 2009.

The company estimates that the cost of a four-year, post-secondary education in 2020 will be $127,000 in Canada, $227,000 in UK and $243,000 in the US.

Success stories of where the Heritage funds have worked to good effect include Leroy Simmons, who was the first child enrolled in an education savings plan in Bermuda in 1969. Going on to attend Warner Southern College in Lake Wales, Florida, he attained degrees in Church Administration and Music.

"There is no doubt that Heritage's savings plan had a positive effect on my education," he said. "My family was not wealthy and the funds they saved were extremely helpful in paying for my schooling.

"My parents did not attend college, but were adamant that their children would. Quality education is so important and it can be a challenge trying to pay for it. I think preparing for a college education as early as possible is one of the most positive things any parent can do for their child."

Kristy Simons, a graduate of Saint Mary's University in Halifax, Nova Scotia, benefited from the Trust and now has her son enrolled in the education savings plan. She has also served on the Heritage Bermuda Advisory Board for the past four years.

"My parents set up Heritage's savings plan for my schooling and it resulted in no debt once I graduated for either my parents or me," he said. "It was very stress-free. In fact, I started a savings plan for my own son when he was only one month old! I think it's a great programme."

Anyone interested in more information about Heritage education funds and education savings plans can contact Charles Jeffers on 296-8528 or George Smith on 295-3868.