Grow your child’s opportunities with an RESP

The importance of education
“Education is a gateway to higher earnings,” according to Statistics Canada and the 2001 Census.

More than 60% of Canadians in the highest earning category – over $100,000 a year – have a university degree.

Between 1991 and 2001, average undergraduate tuition fees at Canadian universities rose by 135.4% – more than six times the rate of inflation. By the 2002/3 academic year, an undergraduate at a Canadian university faced tuition fees averaging $3,738 (Source: Statistics Canada, 2002). Fees are likely to continue to rise.

Whether you are hoping that your child will attend post-secondary school, or are an adult wishing to return to school yourself, you’ll need a savings plan to make the dream a reality.

Your Investment Options
There are a number of options available that make saving for education as easy as possible.

Any one of these options – or a combination – might be the right solution for you. Your investment professional can help you determine what will work best for your situation.

  • Registered Education Savings Plans (RESPs)
  • In-trust Accounts (ITAs)
  • Formal Trusts
  • Savings and Investment Accounts
  • Lifelong Learning Plans (LLPs)

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