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Finance

1 What is a education savings plan?

1 answers

Question asked ( October 27, 2009 , Shopping / Finance )

Tags education, usc, savings, education savings plans, usci, savings plans, education college, college savings

I would like to contribute on an education savings plan for my son who is 5 years old, but i do not know this product. I would like more details. Thank you!

Answers to : education savings plan...

Answer

Answered ( 3 semaines, 2 jours ago by MissB )

1 2 3 4 5 Average of the votes : 5/5 for 1 Vote(s).

The Human Resources and Skills Development Canada (HRSD) defines a registered education savings plan as a means of putting money into a special savings account that will grow overtime with investments. This money is meant to help your child pursue his post-secondary education.

To open an account you need your social insurance number and an RESP provider (financial institution). They will provide you with several options and can help you choose a plan that is best suited for your needs. Remember to ask about any fees that you may have to pay.