New to Canada? Heritage wants to ensure you have all the necessary information to have a great start in your new home. There are many resources to take advantage of, along with Government Grants to help your family save for your child's education.
What is an RESP?
Intro to RESPS
Newcomers to Canada Government links – What you should know
Canadian Study Permits
Having a Baby – Useful Links
Government Tuition Grants
What is a SIN number and how do I get one?
New to Canada? RESPs are a key way to save for your child's education
The cost of tuition for College or University continues to rise, making it more important than ever to start saving early, and as a newcomer to Canada you can now reap the benefits of a Registered Education Savings Plan (RESP).
An RESP is a federal program that encourages parents to save for their children's post-secondary education in a tax sheltered account. The government has additional grants for RESP holders which you may also be eligible for. These include the Canadian Learning Bond (CLB)**, and the Canadian Education Savings Grant (CESG)**, along with other provincial programs and grants that can also contribute to your RESP.
According to an article released in April 2012, by Global News, some of the average cost of a post-secondary education for a few of the provinces within Canada are:
* Based on Average BA program, 1 year of tuition fees
VANCOUVER – University of British Columbia = $4,700.40
EDMONTON – MacEwan University= $3,960
CALGARY – University of Calgary = $5,256.60
WINNEPEG – University of Manitoba = $2,992.20
ONTARIO – Carleton University = $6,282.90
QUEBEC – McGill University= $2,167.80
** Certain conditions apply
Useful Downloads and Forms
The links below are the forms you need to get started, such as an application for a birth certificate and social insurance number. Other forms include government grant and tax benefits:
Social Insurance Number (SIN)
Canada Education Savings Grant (CESG)
Canada Learning Bond (CLB)
Quebec Education Savings Incentive (QESI)
Canada Child Tax Benefit (CCTB)
Heritage Plans are scholarship plans issued under the sponsorship of the Heritage Educational Foundation. Units of the Heritage Plans are offered by prospectus only, a copy of which can be obtained from the registered dealer, Heritage Education Funds Inc. at HeritageRESP.com. These securities may not be appropriate for all investors and are subject to certain risk factors. See the prospectus for details.