Dear Mr. Hawk,

We would like to bring to your attention, and raise public awareness regarding an important issue effecting families across the country.

Registered Education Saving Plans are becoming popular, especially after the introduction of the government RESP grant. Unfortunately, choosing an investment company without careful research can leave young families bound to a contract.

We have been investing with Scholarship Consultants of North America (USC) since Aug, 1998 under the assumption that our contributions were being invested in the market acquiring a profit. Unfortunately, we discovered last year that the majority of our contributions were deemed "enrollment fees" and until this sum was paid in total, a minimal amount of our contributions were allocated to the principal of the plan. We have since attempted to transfer our RESP to another institution, under the impression, that we would incur only minimum loses. After several attempts, we were informed that the signed contract stated 75% of initial investments were enrollment fees and were non-transferable. This information was not openly disclosed to us.

For the last eleven month, we have attempt to resolve this issue with USC, consequently they have sent us a few contradicting statements which showed different principal balance, fees, and enrolment fees credits. We have suggested for them to send us a representative to explain to us the discrepancy in their statements, which they never did.

We have a strong believe that the public has to know about this company and their misrepresentation of their hidden fees, and taken advantages of out children future.

We would appreciate it if you consider this matter for the sake of our children, and hoping other won't make the same mistake as we did.

Please let us know if you would like more details, or needed documentations.

Dawn and Fadil Elsheik