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
Canadian students are facing a change in financial environment at a rate that is much higher than what most families anticipated. Tuition fees are ever-increasing, student accommodation has become more competitive, and the cost of daily living puts a massive strain on the youth who are in the process of starting their financial lives. Statistics … Read more
The best public programs in the world support saving towards the education of a child in Canada, but despite that, many families either misinterpret them or do not capitalize on these programs. Employment and Social Development Canada (ESDC) reports that billions of dollars in education benefits are not being claimed annually due to the lack … Read more
Education Savings Info Day has expanded significantly in a short period of time as a result of a rising number of Canadian families wanting to know exactly how to prepare for the costs of their children’s post-secondary education. Fees for tuition, books, housing, and transportation are going up everywhere in the country, making it necessary … Read more
In the last 10 years, the majority of parents have observed their kids’ RESP accounts grow much faster than initially anticipated. This was due to a variety of factors, including strong markets, increased grant participation, and more families becoming aware of the value of structured education savings. In fact, these factors have been responsible for … Read more
Savers have relied on Registered Education Savings Plans wherever they live in Canada as one of the most powerful tools to address the future rising costs of post-secondary learning. With tuition and training costs climbing year after year, parents and guardians seek clarity around the kinds of RESP transactions they may face—especially when it comes to transitioning … Read more
Canadian parents are putting more money than ever into their kids’ future education, but most are missing out on thousands of dollars in federal grants – particularly the Canada Education Savings Grant (CESG). Employment and Social Development Canada (ESDC) says nearly 1 in 4 children who are eligible are missing, though the full annual CESG, as their … Read more
Even though the price of post-secondary education is rising across Canada, families have been increasingly worried about saving for their children’s educational future. One of the best solutions available is a registered education savings plan in Canada, which enables parents and guardians to save while receiving tax-free growth and government grants. Nevertheless, an RESP has … Read more
For years, Canadian parents have been saving for their children’s education through the Registered Education Savings Plan in Canada (RESP), one of the most effective ways to invest and grow money tax-free for future studies. But when it comes time to take the money out, many families can be unsure about how taxes apply, which parts are … Read more