Registered Education Savings Plan (RESP)
Registered Education Savings Plans (RESPs) help parents, family and friends save towards a child’s future post-secondary education.
ABCS of RESP investing
Every parent – or uncle or aunt or grandma or grandpa or brother or sister or friend and supporter of Canada’s youth and education – should open an RESP for the student(s) of their choice. This way the student receives valuable federal (also provincial in some cases) matching grants, and gets to tax-shelter investment income. Most importantly the student will not be held back for years and years after college or university by costly student loans. As Canadians we must do all we can to educate our youth and move heaven and earth to make sure our future citizens and leaders are not burdened with unmanageable student loans at the very time they should be spreading their wings with their new education and talent. Good RESP plans for our Canadian youth are vital, and are an honour to contribute to.
Combining Fisgard’s compound interest investment with the $7,200 Canada Education Savings Grant you can build a substantial post-secondary education fund over time. With an adequately funded RESP the student (beneficiary) will not be burdened with an expensive and often unmanageable student loan.
Parents and other education supporters need to make three key decisions when opening and RESP.
Understanding the RESP
Our Guide to the RESP is full of information to help the RESP investor.FREE GUIDE: Understanding the RESP