December is a popular month for gift-giving in many cultures.
Many children receive gifts of money for Hanukkah, Christmas or Kwanzaa. You may consider investing all, or some of this money in a Registered Education Savings Plan (RESP) for your children to help save for post-secondary education costs.
When you invest in a RESP, the Canadian government will match 10% to 20% depending on family income.
Your child may also be eligible for the Canada Learning Bond, a free grant of up to $2,000 that will be deposited into the child’s RESP.
You can apply for the Canada Learning Bond with no contributions of your own. It is a no fee, no contribution grant for your child’s RESP.
Don’t delay, apply for the Canada Learning Bond for your child today! You can apply on-line at any time or book an appointment at a bank or credit union.