Kootenay Lake School District would like the public to know about the Government of Canada program to receive $2,000 for a student to pursue education after high school.
The district is encouraging parents and caregivers to look into Registered Education Savings Plans (RESP) as an opportunity to help plan for your child’s post-secondary education.
An RESP is a savings account that can:
- help put money aside for a child’s post-secondary education;
- allow savings for a child’s future studies to grow tax-free, until it is withdrawn for post-secondary education;
- not only be used to help with the costs of tuition, but also housing, transportation, and other education-related expenses (e.g., textbooks, equipment, supplies, etc.); and
- attract federal and where applicable, provincial education savings incentives.
Many parents have questions about education savings for their children; How much to save? How soon to start saving? What is required to open an RESP? Who is eligible?
Learn more about Education Savings Incentives in the attached brochure or visit the Government of Canada link.