Easy Ways To Save For Your Child’s Education
See how easy it is to save for your child’s education with Heritage Education Funds. I know it sounds unbelievable; there’s a simple solution – a Heritage Education Funds Inc. Registered Education Savings Plan (RESP). Many parents utilize government grant programs to help save towards their children’s future education. It helps a lot, and makes saving more manageable. Now, doesn’t saving for education costs sound like it can be done? Did you know that investment earnings on contributions in an RESP of up to $50,000 are tax-sheltered until withdrawn by the student which are then taxed at the student’s tax bracket? It’s easy to help them save.
Let’s not get ahead of ourselves … let’s first look at what an RESP is:
RESP: Registered Education Savings Plan
An RESP is an education savings plan registered under Canada’s Income Tax Act, which is established for the purpose of providing financial assistance to a beneficiary (usually a child) when he or she pursues a post-secondary education. Income on savings within an RESP is tax sheltered until the child is ready for post-secondary education. The earnings are taxed in the hands of the student/beneficiary, who typically pays little to no tax. In addition, RESPs may qualify for various government grants/incentives helping parents, relatives and friends save for a child’s post-secondary education. Both potential subscribers and beneficiaries must have a valid Social Insurance Number. A beneficiary must be a Canadian resident when the RESP is opened and every time a contribution to an RESP is made.
This is the perfect way to ease your mind (and that of your child’s) without worrying how to go about paying for university or college. To make things easier, anyone can start saving! That’s right; parents, grandparents, other family members and friends can all help to save towards a child’s post-secondary education. Tell Uncle Joe to open an RESP for his nephew’s future education instead of purchasing another toy. It makes perfect sense, doesn’t it?
You already know what your options are; today families without an RESP have to:
• Borrow the money
• Withdraw funds from their personal savings, retirement funds or investments
• Mortgage their home
• Let their child earn the money or depend on student loans
There are many savings options ‘out there’ so I would suggest a little research is in order. A step in the right direction would be to contact a Heritage Representative to discuss how you might Embrace the Future. They pride themselves on exceptional personal service, and can provide assistance in several languages, including French, Cantonese, Mandarin, Punjabi and Hindi.
Heritage Education Funds Inc. has been helping Canadian families save in an RESP since 1965. The Home Office is located in Toronto, Ontario; with various locations across Canada. [www.HeritageRESP.com] Their Dealing Representatives provide professional RESP expertise, enrollment information, ongoing support and services.
HERITAGE EDUCATION FUNDS INC.
Heritage Education Funds Inc. (Heritage) is one of Canada’s leading providers of group Registered Education Savings Plans (RESPs) with $2.33 billion in assets under administration. Heritage has been helping parents save for their child’s post-secondary education for almost 50 years. I believe an RESP is one of the best ways to save for a child’s post-secondary education; it’s wise to use Heritage Education Funds RESPs because there are flexible savings options to suit your needs and help you give a child a brighter future through the gift of education.
If you’d like to start saving for your child(ren)’s post-secondary education, Heritage Education Funds Inc. has RESP savings plans to assist you.:
A Group RESP, such as the Heritage Plans * is the Registered Education Savings Plan of choice for many Canadian families because of its pooled fund strategy. The Heritage Plans take all contributions made by subscribers and pools them together, along with applicable government grants. The pooled funds are then invested in various fixed-income lower risk investments such as government bonds and GICs, which typically earn a competitive and consistent return.
You can set your own schedule by contributing to an Impression Plan RESP whenever it’s convenient for you. Once your child is ready for post-secondary education, you can withdraw your contributions (less fees), all government grant money, and all income you’ve earned; applying the funds to your child’s university tuition.**
The Impression Plan* invests your contributions and government grants into fixed-income lower risk investments.
Of course I am not a professional; I strongly recommend that you do everything possible to learn more about RESP’s and then make an educated decision. Get as much information possible … here are the top 10 reasons to choose Heritage Education Funds.
I know you might feel a little intimidated but, trust me, getting organized and on track makes everything easier. You’ll feel more in control of what’s coming up ahead. In my case, I have a 16 year-old teenager that is halfway through high school. She’ll be able to afford a post-secondary education without the constant worry of student loans. She’ll be debt-free and worry-free … and so will I.
Here’s a treat … HERITAGE EDUCATION FUNDS INC. currently has a CAMPAIGN/CONTEST that you should enter … it’s an Annual RESP Draw:
Win! There is $20,000 in contributions towards RESPs to be given away! It’s back once again! Their Annual RESP Draw offers you a chance to win 1 of 8 contributions of $2,500 towards a Heritage Education Funds RESP. Draw date is December 31, 2014.