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CEFI Children Education funds Inc Burlington Most horrible RESP dont invest in it

[OP]
Newbie
Jul 14, 2019
1 posts

CEFI Children Education funds Inc Burlington Most horrible RESP dont invest in it

We take lot of effort and contribute to RESP. We invested with RESP with CST and CEFI. CEFI or Children Education Funds in Burlington was worst my daughter took a semester at sea program with University of Colorado and CEFI made so much of fuss giving us our due money for that semester. And then again when my daughter finished her 4 year studies by taking courses in Summer CEFI wouldnt make payments. They say they donot make payment in January for 4 th year as they only make payment once in year. SO to claim payment when fall semester starts. When we try to claim payment when Fall semester was starting they request a completion letter that she would complete her studies and require payment by Aug 1. She will finish her studies Aug end and they wont listen to it. They then say they will charge 75 fee if we request payment when Aug Semester ends. Due to their stupid rules they dont want to pay they always find reasons not give our money back to us. Please beware of CEFI dont invest in RESP there, they have horrible rules and they always find excuse to cut money and not pay money on time.
2 replies
Deal Addict
Apr 7, 2011
1709 posts
337 upvotes
I'm 90% sure I know the owner of this company as she was my old landlord. She's the only one I know who ended up losing in court to the city fire inspector.
Deal Guru
Feb 9, 2006
11374 posts
5862 upvotes
Brampton
Pretty much don't invest in any of these types of RESPs (This one, Heritage etc).

The terms are terrible, the returns are relatively poor.

Just put money in to an RESP investment account. Even a poor performing Mutual fund would be better as you are more flexible on the drawdown of the money you only need to meet the requirements set out by the government.

There's RESP GICs if you're 100% worried about principle protection.

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