About Registered Education Savings Plans
It’s no secret – Canadians parents believe that education opens doors, broadens horizons and enriches lives. Although it comes at a price, post-secondary education isn’t as much a cost as it is an investment – one that returns a wealth of opportunities for a rewarding career.
At Knowledge First Financial, we believe the path to success starts with your decision to save with Registered Education Savings Plan. It’s a smart and proven way to invest in your child’s future that gives you more in the end – more funding for your child’s education and more peace of mind for you.
There are other ways to pay for education: personal savings, student loans, part-time student jobs. But the fact is, no other savings plan offers as much as RESPs. Here are just some of the benefits:
Maximize your savings with government grants
Only RESPs are eligible for savings incentives like the Canada Education Savings Grant (CESG) worth up to $7,200.
Tax benefits of an RESP
Tax-deferred earnings on contributions of up to $50,000 per child make RESPs a good vehicle for your savings.
Starting early means more in the end
The earlier you start saving, the sooner you can take advantage of government grants and compound growth.