RESP

Mother hugging daughter on graduation day

I love the springtime. Waking in the morning to the excited sounds of birds chirping. Watching the trees which, for months, have appeared lifeless, suddenly spring back to life. I am always amazed at the certainty of the seasons; no matter how long the winter is (and some years feel longer than others!) we always know that spring will come. And while April signals the much-anticipated arrival of spring, it’s also synonymous with another certainty in Canadian life:  tax season.

Thomas the Tank Engine - Happy Birthday

This guest post was written by Adam Dolgin, a CST Planholder and the voice behind the popular parenting blog Fodder 4 Fathers.

Remember the good old days when people didn’t buy gifts for kids; they gave them money? No? I do. I actually had several family members-aunts, uncles, great aunts and uncles- that would only give me money on my birthday or during the holidays. It always pretty much went down the same way every year:

Writing a Test

A parent’s foresight can have such an impact on a child’s future opportunities. After receiving an eBirthday card for her son from CST this past month, one such parent, Jill Everett-Young, mother of Joseph (Joey), describes that moment that her decisions changed both of her sons’ lives in her own words:

Child Learning to Ride Bike

The latest numbers coming from Statistics Canada on tuition fees may look scary but if you’re among the half of Canadian parents investing in an RESP some sage advice for you: Keep Calm and Save On!

Statistics Canada says Canadian full-time students in undergraduate programs paid 3.3% more on average in tuition fees for the 2013/2014 year this fall than they did a year earlier. On average, undergraduate students paid $5,772 in tuition fees this year compared with $5,586 last year.

Mom and Daughter Graduation Day

There's a new video from Yahoo! Canada with some interesting opinions from current students about whether their student loans will cripple them financially in the future. You can watch it here:

http://ca.finance.yahoo.com/video/current-students-feel-rising-cost-040000335.html

Toddler on mother's feet

It makes sense for parents to start thinking about RESPs during back-to-school season. And there’s no shortage of financial institutions delivering statistical reasons why parents should be investing in an RESP. Yes, including CST.

LIttle girl at a playground
Ask any child what she wants to be when she grows up. Odds are she's going to need some education after high school to achieve her goal.
LIttle Boy and Golden Retriever

More Canadians are saving more money for college than ever before. Maybe it has something to do with the increasing cost of tuition or the stories we hear about students with large debt loads that have parents convinced they need to plan ahead and save for their child’s academic career. Newly released data from HRSDC (Human Resources and Skills Development Canada) shows that roughly 45 per cent of Canadian children had an RESP (Registered Education Savings Plan) set up for them by their parents in 2012.

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