2. Higher Cost of Education
The higher cost of education in Canada is
causing many bright students to stop
pursuing higher education. Many young
children face this problem across the
country, where the parents are not
prepared to afford the higher education that
costs a fortune. With smart thinking and
right decisions, parents can prepare
themselves for the expenditure.
3. Financial Programs and
Plans
For a relief, there are many programs and
plans available to the parents that offer
financial assistance. Parents need to choose
the right plan to save meaningful amount for
the future expenditure. The Registered
Education Saving Plan is one such plan
available to all the parents who are the
citizens or the legal residents of Canada.
4. Registered Education Saving
Plan
RESP, which is approved by the government,
offers low-risk investment opportunities to its
subscribers. If you invest with the right service
provider, your investment earns great returns
and on the maturity of the plan, you get
significant amount to afford any education for
your children.
5. Heritage Education Plans
The Heritage Education Funds Inc. offers only
the RESP plans and is one of the oldest
organizations in the country. So far they have
helped over 400,000 families to save money for
the children's higher education. To create a
Heritage RESP, you need to provide the Social
Insurance Number and some documents like the
birth certificate of your children. Different plans
are available as per your needs. You can include
multiple children in one active plan.
