USC SCHOLARSHIP CONSULTANTS OF
NORTH AMERICA- USC SAVINGS PLAN
USC IS A ROBBERY, CHEATING COMPANY,
AND NOT A SAVING PLANS' INSTITUTION FOR FUTURE EDUCATION OF YOUR KIDS
DO NOT be surprised if you discover that a big company like
USC (Scholarship Consultants of North America), established over 35 years ago
(since 1965), is a company which has been building its wealth and success on
the shoulders of its clients by cheating and deceiving them, using fabricated,
unrealistic logos. The USC has been selling people what is called "Future
Education Saving Plans For Your Kids" by using shiny, attractive logos in
order to get your interest and then you will fall in, what suits the Company
best, the "USC Trap".
DO NOT be surprised or excited if you hear any of the USC
logos, such as "Give Your Child A Future, Gives You Peace of Mind",
"Saving Plans for Future Education of Your Kids", "USC Family
Group Education Saving Plan", "USC Family Single Student Education
Savings Plans", "USC Family Multiple Student Education Savings
Plan", etc. These logos of USC are just to deceive and trap people easily.
DO NOT believe, even for a short while, that the USC logos
and propaganda are any good for you or your kids' future education. The USC
Saving Plans and its logos are just a fluff. This is in addition to the
misleading manner in which USC presents its services to clients, and also the
very bad way of communication with them.
As
a family thought to benefit from the USC saving plans for our daughter's future
education, we became, unfortunately, one of the USC victims. The USC has seized
82% ($2,366) of our daughter's saving-plan deposits that were saved over a
period of 18 months. Following is our story in brief. For further details,
please click on the different links.
For
only a year and a half (from October 1, 1998 to April 12, 2000), we were
enrolled in the USC saving-plans program for our daughter. At the time of signing the contract with the Company's representative, we
were told that our deposits are transferable to another saving-plan
institution, when/if we will, without any penalty or monetary loss. We were
also told that the only instance in which we may experience a moderate
financial loss would be upon cancelling the plan, but transferring our deposits
to another saving-plan institution will be OK; without any financial penalty.
When we decided to transfer our daughter's saving deposits to another saving
institution, we realized that USC has seized $1,973 which constitutes 82% of
our total deposits of $2,540 (including interests). The 77%-seized amount, claimed by USC to be used
as "Enrolment Fees, other fees, and interest", is by all means, according to USC, not
transferable or refundable. The remaining 23% (which is only $569) will be
returned to us.
It
is important to mention that the way in which USC presented its saving program
to us, as clients, is very confusing and full of misleading information that
has a lot of complicated technical terms which are hard to follow, understand,
and comprehend. For example, the lengthy USC document composed of 47 pages
includes so many technical terms, such as "Fees Structure",
"Enrolment Fees", "Enrolment Fee Waiver", "Front-End
Fees", "Depository Fees", "Deposit Net Principal Fees",
"Projected Education Tuition Fees", "Projected Return
Fees", "Annual Administration Fees", "Education Assistance
Payments", "Benefits of Initiating An RESP", "Charge Per
Unit", "Net Contributions", "Eligibility Date",
"Date of Maturity", "Self-Determined Option", and many many
others.
We
felt, however, that this issue (being deceived and cheated by USC) must be made
public. Based on our own experience, as explained on this Website, we kindly
ask every individual or family to make every effort, so that he/she/it never
ever thinks to make any kind of business with USC. We have been, unfortunately,
cheated, deceived, and trapped by USC, and thus we do not wish any other person
or family to go through the same bitter experience that we have gone through when
we got enrolled in what is called "Education Saving Plans" of USC (Scholarship
Consultants of North America).
Your
signing this Website, telling others about it, and making them aware about USC
are greatly appreciated.
BE
AWARE AND GOOD LUCK.
Fadil
Elsheik
(Halifax, Nova Scotia, Canada; August 17, 2001)