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Who is eligible for the RESP grant?
Legislation in recent years has introduced an added dimension to the realm of Registered Education Savings Plans (RESPs). The Canada Education Savings Grant was developed by the federal government to augment RESP contributions by adding 20% to the annual amount contributed up to a maximum of $400 per year. Who is eligible for this grant?

An educational RESP for rising costs - Which do you choose?
We are all well aware that the cost of post-secondary education keeps increasing. For parents or Grandparents who wish to assist in financing a child's education, one of the key problems faced is choosing the best investment vehicle to achieve the desired goal. For many the dilemma is between choosing an RESP.

Start saving now for your children's education
If you're hoping your children will get a higher education someday, get ready for a shock. When you take everything into consideration, the total cost for a diploma or degree could be terrifying. In fact, the 1995-96 student budget prepared by the Canadian Federation of Students allocates $8,890 for tuition, books, rent and food. Assuming inflation continues at three per cent per year, a four-year undergraduate degree in 2014 will cost more than $65,000. CDN.

Beware of tax implications of gifts to grandchildren
Well meaning grandparents often make investments in their grandchildren's names to provide a future nest egg or to help defray the expected high costs of a College or University education. Registered education plans are sometimes used for the latter purpose but these have some restrictions and the possibility of forfeiture of any income earned if the funds are not used for educational purposes at a recognized institution.

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