Finance

Saving For The Future of Your Child

To get ahead in life you need to be properly qualified. Nowadays no person is able to get a good job unless they have a proper qualification and are already experienced in the work industry. To even get internship experience, you need to go through a number of interviews and test to qualify. Furthermore, to be able to apply to any of this, you need to be able to go to a university and complete a degree. Without a degree it can be nearly impossible to get a job with any top paying company or even get something like an internship. Without a proper university degree you will be out of luck with the job market and will probably not be able to do too much.

For this very reason most teenagers plan on going on to university rather than not after high school. Most of the students, however, are unable to afford the expensive university fees and charges. While this is a pretty big problem in most parts of the world, where students have to take out loans for their education and then pay them back with disgustingly high interest rates, there is a bit of hope for the Canadian student.

For students in Canada, there is the benefit of there being an RESP program. The Registered Education Savings Plan, or RESP for short, a parent can register their child and add payments to it over the years. A high percent interest rate is applied to it and the parents can take that money out once the child is accepted in to a university. This has been taken over by the Knowledge First Financial organization and they plan on increasing the reach and scope of this project overtime so that the payout rates are higher.

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