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EDUCATION BENEFITS
How are the scholarship benefits paid out?
If the program is for a college course, the scholarship benefits are paid out every May 1 and October 1. If the program is for a high school or elementary education, the scholarship benefits are paid out only on May 1.
What is the graduation gift?
The graduation gift is optional for college scholarship plans only. The amount is equal to the sum of annual installments. If you opt for the education plan to provide for a graduation gift, this benefit is paid after your child's graduation.
What is the academic excellence award?
This is a cash award that the company pays out if your child graduates with distinctions:
- If summa cum laude or valedictorian, 100% of contract price
- If magna cum laude or salutatorian, 75% of contract price
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