More Canadian parents saving for children's future education

November 25, 2009

According to new data from Statistics Canada, in 2008, 68% of children up to the age of 17, whose parents expected them to go beyond high school, had savings for their future education, up from 52% in 2002 and 43% in 1999. Of children with savings put aside for their education, 69% had savings in RESPs in 2008, compared to 55% in 2002 and 42% in 1999. The StatsCan survey also notes that children whose parents had a post-secondary education were almost twice more likely to have savings than children with parents who had less than a high school education. Statistics Canada