EDUCATION SAVINGS PLAN (RESP)

Heavy financial burdens can leave parents incapable of paying for their kids’ post-secondary education. As a result, many families resort to student loans, which can take you or your children years to pay off. Don’t prepare your kids for a lifetime of debt; invest in a Registered Education Savings Plan (RESP).

RESP contributions are not tax-deductible, and can be made by anyone, including parents, grandparents, aunts, uncles and friends. The money saved will compound and grow tax-free until the child is ready to attend a post-secondary educational institution full time. RESPs are also transferrable to other institutions and contributions can be withdrawn tax-free.

Need more reasons to invest in an RESP? Call for more details and to set up an appointment with one of our Savin Advisors.

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