Canadian parents know all too well that a post-secondary education for their child is a significant financial investment. And utilizing a Registered Education Savings Plan (RESP) is the most effective way parents can save for their children’s education.
As a father of five, Andrew Scheer understands the importance of planning for the future. He knows that every dollar counts and that every dollar saved will make a difference in the future. Of the 1.77 million students who received a RESP grant in 2017, 1.07 million were from low- and middle-class families.
A new Conservative government will boost the RESP grant from 20 per cent to 30 per cent on every dollar invested up to $2,500 a year. This change will boost the maximum annual grant from $500 to $750. The maximum lifetime grant will also boost it from $7,500 to $12,000.
This is compared to Justin Trudeau cancelling tax credits and increasing taxes on 80 per cent of middle-class Canadians. His signature policy has been a carbon tax that will increase if he’s re-elected and will make everyday essentials even more expensive. He has made life more expensive and difficult for Canadian parents to save money to send their kids to college, university, or trade school.
It's time for you to get ahead.