You’ll meet very few parents who don’t want to send their kid to college so that they can pursue higher education in their chosen field and get a well-paying job that secures their future. However, not all parents actually end up sending their children to college after they’re done with high school and on this page, we’ll look at why that’s the case. But if you want the long story short then it’s simply because parents aren’t saving for their child’s higher education when they could be.
Not all of us are very well settled, which is why it’s natural that some parents might not have the kind of financial resources needed to send their kids of college. Since these parents think that college is too much of a farfetched dream sine they’re struggling to pay the bills as it is, they never make an effort to save. Let’s say that your child is 5 when you decided that you’ll sent them to college. They’ll probably start college around the age of 18 or so, giving you 13 whole years to save up – if you start a RESP account now, you’ll be surprised at how much you can save.
Another thing that’s great about RESP is that you can save up for your child’s college education by getting help from the government as well. You get grants and incentives that go into the fund since the Canadian government cares about your child’s future. You can read Knowledge First Financial reviews to learn more about how RESP has helped parents fulfil their dream of sending their child to college one day. It might sound farfetched right now but if you start saving early, REPS can make your dreams for your child’s future come true.