Educational costs keep on rising
nearly doubling in 10 years
A Diploma Registered Education Savings Plan (RESP) is an effective way to save for children’s education when they enroll in a post-secondary program. With tuition fees skyrocketing it would be smart to take steps to make sure you take advantage of all the government programs available. The government of Canada and certain provinces offer several grants to help investors build their education savings. Contributions are not tax-deductible, but the funds inside the RESP account accumulate tax free.