More than half of Canadians miss out on RESP benefits, reports CBC

October 12, 2016

“It's hard enough to pay the bills, let alone save for the kids' education,” writes Peter Armstrong for CBC. “That's why it's so baffling that less than half of those eligible participate in a program offering parents free money for their kids post-secondary education.” The author cites recent data from Statistics Canada showing that the participation rate for eligible adults in Canada's Registered Education Savings Plan is under 50%, meaning that Canadians are potentially missing out on millions in federal support for their children’s future education. Armstrong lays out a number of tips for making the most of the RESP program, which include overcoming inertia to open an RESP, asking for help from family or friends, and playing catch-up by contributing as much as possible when opening an RESP later in a child’s life. CBC