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 Why you need one?

Tuition costs for university in Canada increased an average of 125% from 1991 to 2001. (Statistics Canada)

Federal transfer funding for post-Secondary education has effectively dried up. (Finance Canada)

Students are graduating from school with skills they need to get a job and debt loads that suck so much from their pay they can’t afford to fully participate in the economy – no new car, no new house – sometimes barely able to make ends meet.

Debts of $40,000 and higher are common.

What will happen in the next 20 years?
What will your children face when they want
    an education?
Will it be bleak?

Or will you have

  • planned wisely,
  • invested wisely, and
  • jumped at the chance to get an immediate 20% return on your investment?

It’s a 20% government grant. Grants are free money. What do you have to lose?

THE FACTS
  • An Education Savings Plan registered under the Federal Income Tax Act.
  • Allows savings and interest to compound tax free.
  • Qualifies for a Canada Education Savings Grant that provides a 20% top-up on the first $2000 deposited annually per child.
  • All interest is paid to the student (your child) and is taxed at their rate, which could attract little or no tax.
  • Return of and/or rollover to an RRSP of the interest if the nominee (your child) doesn't advance to post-secondary education under certain conditions and circumstances.
THE BENEFITS
  • Tax free growth:
    Interest compounds tax-free in the Plan.
  • Income splitting:
    Interest that would be attributed to a subscriber in a regular savings plan is attributed to the nominee (the student) in an RESP.
  • Guaranteed:
    Principal invested in fully insured or government guaranteed securities.
  • Affordable:
    Saving plan and corresponding deposit schedule based on each individual's budget.
  • Greater growth:
    20% top-up on the first $2000 deposited annually per child.
  • Motivational:
    Most important over 85% of children with mature RESP plans with most companies actually enroll in post-secondary education, and of those 94% graduate.
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