Assured Child Education Savings Plan in Canada: A Comprehensive Guide

Assured Child Education Savings Plan in Canada

Plan the education for your child – among the biggest financial decisions of your lifetime. In Canada, with ever-rising tuition and education costs in post-secondary programs, families now must begin early and save early so that a child receives good quality education without an associated financial crunch. Assured Child Education Savings Plans can be of … Read more

The Rules for Withdrawing from Education Savings Accounts

The Rules for Withdrawing from Education Savings Accounts

An RESP is an investment vehicle created in Canada to allow parents to fund a savings plan for financing their children’s post-secondary education. The two most significant benefits and advantages of RESPs are government contributions and tax-free investment growth within the account. The catch about an RESP, however, is that withdrawal can be very cumbersome- … Read more

Québec Education Savings Incentive: A Complete Guide

Québec Education Savings Incentive

This is a high time to plan for your child’s future since education, in general, and postsecondary education, in particular, is getting expensive; governments in Québec should help those families to preserve every dollar they can save for their children’s education. One of the savings approaches that has been recognized in Québec is the Québec … Read more

Are RESP Contributions Tax-Deductible?

Are RESP Contributions Tax-Deductible

One has to be aware of the subtle nitty-gritty of financial instruments like the Registered Education Savings Plan (RESP) to consider plans for the educational future of a child in Canada. Most parents and guardians seeking an education savings plan in Canada want to know what would help their savings grow optimally. One of the … Read more

The Impact of RESPs on Student Loans

The Impact of RESPs on Student Loans

Mastering the financial landscape of higher education in Canada, as far as cost control and future planning are concerned, is quite complex. One of the most valuable tools in this regard for any Canadian family is the RESP or Registered Education Savings Plan. This plan allows a person to save for a child’s future educational … Read more