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Financial Predators Take Advantage of Refugees by Dangling Federal Benefits, by Omar Khan
Refugees are being taken advantage of by unscrupulous finance companies and salespeople who are using a family’s interest in their child’s education, combined with federal government letters of encouragement and federal benefits, to enroll refugees in savings programs with a high risk of financial loss. Background Registered Education Savings Plans (RESPs) are incentive-based, tax-advantaged savings plans that people, traditionally parents, can use to save money for children’s post-secondary education (PSE). The funds become…
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