How Parents can Save for Their Children's Education

Taking advantage of programs such as the Registered Education Savings Plan (RESPs)

and the Canada Education Savings Grant early on can also have a significant impact in your end result. RESPs allow for (eventual) tax-free withdrawal. The money put into a Canada Educations Savings account by modest-income families is matched by the government and allows them to begin saving for a Canada Learning Bond. If you live in Alberta, additional programs such as the Alberta Centennial Educations Savings Plan is worth looking into.

How Parents can Save for Their Children's Education

By: Molly Wider

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