The phrase "enrollment fee" means the amount of money you need to pay when you join or register for a particular program, course, or membership.
Full definition
It would not be wise to transfer your plan at this point as you have had
enrolment fees come off, so your principal is minimal.
When a contributor withdraws from a group plan, only the initial investment (
less enrolment fee) is returned.
And because you'll have the opportunity to earn while you learn, you won't be saddled with debts or any expensive
enrolment fees in order to get certified.
When joining the deposit scheme, producers pay a one -
off enrolment fee of $ 100 to EPP.
Scholarship plans often have
enrolment fees payable in instalments in the first few years of a client's investmentInvestment An item of value you buy to get income or to grow in value.
A study prepared for the federal government found that group plans have a number of drawbacks including
enrolment fees and preset contributions, forfeiture of enrolment fees and the inability to transfer plans, no entitlement to investment income if the plan is cancelled, and high fees.
Typically, if a kid quits a group plan or doesn't use the money when they are supposed to — only contributions will be returned minus
enrolment fees.
Plan Started April 2005 Plan Maturity April 2022 Contributions Net of Plan Fees = $ 2,492.20 Canada Education Savings Grant = $ 1,196.98 Interest Income = $ 125.33
Enrolment Fees (18 units) = $ 3,600.00 Current Balance = $ 7,414.51
These fees alone (excluding
the enrolment fee) add up to more than 0.60 % of total assets.
Traciatim, your other misunderstanding of your annual statement is that in the first three years, most of your principal is covering
the enrolment fees, leaving you very little principal to earn interest on, which is why the returns seem so small in the beginning.
And yes,
those enrolment fees do come out of your account in the first 3 years.
This is in addition to
the enrolment fee.
Enrolment fees are often high and there may be strict rules.
When applying for a new credit card with bad credit you ought to expect to be given a diverse treatment than usually given to individuals with good credit in the form of being charged higher annual fee,
enrolment fee, and etc..
The plan will automatically renew on the anniversary date without
an enrolment fee.
Plans that are renewed after 30 days of the previous plan expiring will require
the enrolment fee be applied.