Add on housing and living costs if your child attends an institution outside of your home town.
It’s no secret that some young graduates enter the job market with a considerable amount of debt.
The Registered Education Savings Plan (RESP) is an investment option that allows you to set aside money to secure a bright future for your children and or grandchildren.
Under this plan, your contributions grow on a tax sheltered basis and entitle you to significant government grants, which effectively accelerate the growth of your assets.
"Canadian undergraduate tuition fees by field of study" Table: 37-10-0003-01 [database on-line]. Statistics Canada, 2020 [cited January 31, 2020]. DOI: https://doi.org/10.25318/3710000301-eng