Saving For Post Secondary Education

Post secondary education is very expensive in North America and unless you are fairly wealthy will be a worry for most parents. Obviously, not all kids go onto University or College but if they do and you haven?t planned for it you could find yourself with a large financial burden. This would probably happen just when most families are looking at finally having some financial security
A Registered Education Savings Plan - RESP - is vital for your financial health if you have kids who you feel may want to go into post secondary education. An RESP is government sponsored (Registered with Canada Customs and Revenue Agency) and is allowed to grow tax free. Money paid from the plan at maturity may be taxed as income for the student.
The plans are administered by p View the rest of this article