Registered Education Savings Plan (RESP)
Post-secondary tuition fees have increased dramatically over the years. Meanwhile, youth unemployment remains a concern – for graduating students and parents alike. Take the steps now to help your child to graduate debt-free. Without a huge financial burden hanging over their head, they can make the right, calculated decisions to set their career on track.
Why RESP education savings?
An RESP is perhaps the best tool to invest for your child’s post-secondary education. Parents, grandparents and friends can contribute to their RESP savings plan anytime. The contributions are on-tax deductible and the federal government contributes a certain amount to help the savings grow. No matter the age of your children, they deserve the best RESP registered education savings plan which could include, federal grants of up to $500 per year, Canada Education Savings Grant 20-40% of your contribution up to a Lifetime maximum of $7200, an Education bonus of 15% of the contributions and tax-free growth for your savings.
Speak with a Life100 advisor to learn more and find out about all our RESP savings plan solutions in Toronto, Brampton, Ajax, Markham or anywhere in the Greater Toronto Area and Ontario.
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