Your Children’s Education
Post-secondary education can cost over $6,000 per year on tuition alone. If you have more than one child, you are looking at a lot of money to help them out. How can you make this process easier?
A Registered Education Savings Plan (RESP) is an option. Contributions to these accounts receive a 20% match from the Canadian Education Savings Grant up to $2,500 per year, which is $500 of free money.
Another option is to use a trust account for your child. There is no grant money but more flexibility in the funds use when it is time to access.
Saving for Post-secondary education can appear overwhelming, but it doesn’t have to be. Your financial advisor can help create a road map so you can make progress in steps.