When high school graduates finally get their university acceptance letter, many Canadian families can breathe a sigh of relief — not just at the academic achievement but because all those years of careful saving in a Registered Education Savings Plan (RESP) are about to pay off. But all that excitement frequently collides with a surprising obstacle: paperwork. … Read more
Every parent-to-be wants to give their new baby the best start in life. In 2025, that dream increasingly encompasses early financial planning for education. The costs of attending a post-secondary institution are projected to increase gradually during the decade and now top $100,000 on average for tuition, room and board and additional supplies in a … Read more
More and more Canadian families accept Registered Education Savings Plans as part of their contributions to children’s future. In the 2024 Annual Statistical Review released by the Canada Education Savings Program, the total RESP assets in the country exceeded the line of 89.8 billion dollars, reaching a record high over more than a decade. One … Read more
Tuition in Canada is up, and families are feeling it. The average four-year undergraduate degree in Canada can now cost more than $100,000, including tuition and living expenses. Canadians believe they are lagging in saving for their children’s education, with over half (53%) reporting that they are behind. With figures like those, it’s clear why … Read more
Every parent wants to give their child the best possible start — in Canada, that often means supporting them while they attend college or university without being overwhelmed by student debt. One of the smartest tools out there is known as the Registered Education Savings Plan Canada (RESP) — and it could potentially help your … Read more
RESP – What is it? Parents are always looking into the future for our children, and nothing says this more clearly than planning for our children’s education. But what happens when the person who opened and managed that RESP — known as the subscriber — dies? It’s the sort of question few families want to … Read more
Millions of Canadians get tax refunds every year. And yet most of it vanishes into short-term consumption — new gadgets, home renovations, perhaps a vacation. But what if that refund could fatten your child’s future, rather than merely deflating your wish list? The average federal tax refund in 2024 was $2,093, according to Statistics Canada. … Read more
When it comes to saving for post-secondary education, Canada’s RESP system is still a potent tool. In 2024, Canadians withdrew approximately CAD 6.7 billion from RESPs and benefited over 583,000.RESP payouts reached in and out from s.brij@gmail.com+1 Maybe — but this was not my understanding, especially for a TFSA, etc. It’s another reminder of just … Read more
It can feel like aiming at a moving target when you’re trying to save for a child’s education down the road. Tuition continues to climb, living expenses ebb and flow, and families must make difficult choices about their budgets. But Canadians have a handy weapon in their arsenal: the Registered Education Savings Plan (RESP). With … Read more
We have ten things in the air all the time, raising children in Canada today. Food costs are up, housing is a burden the likes of which we’ve never seen, and the biggest number you face when pondering your child’s future is the cost of higher education. Post-secondary tuition, books, and the cost of living … Read more