By MoneySense Staff on September 5, 2013 Estimated reading time: 1 minute
RESP babies
By MoneySense Staff on September 5, 2013 Estimated reading time: 1 minute
How many students have, or wished they had, an RESP and more.
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A new poll for BMO suggest one-third of Canadians enrolled at a post-secondary institution have an RESP to help pay for tuition, books, room and board. Among students with a RESP to tap, three-quarters said they would not be able to afford university/college without it. Among students without an RESP, a whopping 84% said they wish they had one and 91% said they plan to set one up for their kids one day. It’s no wonder. A four-year university degree can cost upwards of $60,000, according to the bank. For children born in 2013, costs could reach $140,000 by the time they attend a post-secondary institution. Pick up the September/October issue of MoneySense magazine on newsstands now for additional information on students and RESPs or try out our RESP Calculator.
Toronto and Vancouver posted surprising high real estate transactions numbers in August, says the Wall Street Journal.