Did you know the RESP is an excellent tool to help your clients make their kids’ dreams a reality?
With the new school year in full swing, many children and teens are beginning to think about the kind of career they hope to go into one day. This means that they could be looking to attend a postsecondary education institution to help them land their dream job.
However, this dream comes with a price! According to Statistics Canada, tuition fees for university undergraduate degree programs rose 2.6% in 2022, in addition to increases in groceries (9.7%) and rent (5% on average).
Generous government grants
Coupled with tax-sheltered investment returns, generous government grants can help your clients on their way to making their kids’ dreams a reality!
Not only does every dollar1 deposited receive a 20% top-up in the form of CESG – the federal grant program - but there are also even more grants available:
- Additional CESG: for low-to-moderate income families (10% or 20% payable on the first $500 of annual contributions)
- Canada Learning Bond: for low-income families (up to $2,000 per child)
- QESI: additional grant for residents of Quebec
- BCTESG: additional grant for residents of British Columbia
Open an RESP in EVO and iA Financial Group will take care of all eligible grant requests. All it takes is a few minutes to complete the electronic application! iA will take care of the rest.
Promote your advisory role today!
Reach out to your clients with children and show them just how much they could save by starting early with the RESP Illustration tool. They will see that even small amounts can add-up – fast!
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1Up to $2,500 per year
