Registered Education Saving Plans

Introduction – Why Family RESP Has Become Essential In Canada Over the years, the cost of education has risen, and it is highly likely to continue increasing. For example, the cost of education per year for an undergraduate student, as of the year 2023, according to Statistics Canada, was more than 7,000 dollars. However, other … Read more

Introduction The cost of post-secondary education is rising rapidly in Canada. People are looking for ways to be financially prepared for the education expenses of their children. The education expenses include the cost of tuition fees. The average tuition fee for an undergraduate program for Canadian students for the academic year 2023-2024 is around $7,076. … Read more

Why Education Planning Is Becoming A Core Estate Concern Some traditional estate planning topics in Canada have been property, retirement accounts, and business. Funding of education, however, is becoming more of a discussion in long-term planning. The increased post-secondary expenses have placed early and planned saving more than ever before. Statistics Canada found that average … Read more

Introduction: Why Resp Tax Clarity Matters More Than Ever Education in Canada has been increasing at a rate that is growing above the general inflation, and long-term planning is not a luxury but must be practiced. Statistics Canada notes that the average undergraduate tuition fees in Canada have been on a steady rise over the … Read more

In Canada, saving to attend post-secondary education has been transformed into a financial need rather than a desirable or a nice thing to do. Tuition, housing, books, technology, and day-to-day living expenses have all steadily risen, and families are currently paying education fees that can be compared to the cost of a down payment on … Read more

In Canada, bringing up a baby means dreaming big and spending bigger. In Canada, the average cost of a year’s university tuition is approximately $7,500 CAD (varies by province and program) – and that doesn’t include room and board, books, or food. When you add it all up, costs can easily exceed $80,000 for a … Read more

Canadian families no longer have to look at economic uncertainty as a once-in-a-while disruption, but it has now entered the daily financial decision-making process. The inflation has transformed household budgets, the cycles of interest rates have become costlier to borrowers, and the price of higher education has only been increasing progressively. The average undergraduate tuition … Read more