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More Persons Funding College Through Savings

Jamaica's largest bank is also one of the top providers of education savings options, whose portfolio up to last year was valued at close to J$23 billion.

The figure represents a 19 per cent annual gain in National CommercialBank Jamaica's OMNI Educator savings pool, which may well serve as proxy for a market in which the anecdotal evidence points to increasing subscriptions for products that are used to fund both local and foreign tuition.

It's a market to which Jamaica's 40-plus credit unions have long pitched their savings products; that Scotiabank Jamaica has tapped into through ScotiaMINT - a portfolio that is valued at J$42 billion but extends beyond education savings; and First Global Bank serves through its 'Global Kids & Teens' accounts.

 

 Read more:

http://jamaica-gleaner.com/gleaner/20131006/business/business1.html