Securing the Money Required For Your Child's Education

The future of every child is important for their parents, and this is the reason

why almost every parent in Canada wants to see their children pursue higher

education. However, the cost of education has been on a constant rise and

pursuing higher education is not as easy as it used to be.

If you are a parent who is worried about the financial expenses related to the higher education of your

child, then you must consider creating a Registered Educational Saving Plan (RESP) for your child. RESP

has been approved by the government and is one of the best programs available for financially

preparing for your child’s future. It is tax exempt as well.

Creating a RESP is easy. All you need is the child's social insurance number,

some basic documents and a good RESP provider. Heritage Education Funds

Inc. has been helping parents create RESPs for more than 50 years. It has

already paid out more than $6 billion to parents all across Canada. More than

300,000 enrolments have been made for Heritage RESP, and with more than

$200 million in assets, the company is surely very stable financially.

Planning ahead is always smart but requires patience as well. While creating a RESP for your child, you

will need to select how often you would like to make the contributions. This can be on a monthly

basis, yearly basis, once in five years or even once in 10 years.