Like you, Seven Oaks School Division believes a good education is where great futures start – and that includes the education your child gets after high school. That’s why Seven Oaks School Division wants you to know about Registered Education Savings Plans which are also called RESPs. An RESP is an account you can open to start saving for your child’s college, university, trade school or other studies after high school. What’s really great is – in addition to the money you save – the Government of Canada will add money to your child’s RESP through the Canada Education Savings Grant and the Canada Learning Bond. It’s like someone handing you money for your child’s education…and you’ll be surprised at how quickly that money can grow. Before you can get money through the Canada Educational Savings Grant or Canada Learning Bond, you need to open a Registered Education Savings Plan (RESP). The good news is that opening an RESP is easier than you might think! Get a Social Insurance Number for yourself and your child. There is no fee, but you will need some documents (such as a Birth Certificate) to go with your application. Choose an Registered Education Savings Plan Provider To open an RESP, you can go to most banks, credit unions, group plan dealers and certified financial planners who will meet with you to discuss your plan’s options. Choose RESP & SOSD giving education a growing chance a guide to registered education savings plans that plant possibilities for your child’s future
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RESP SOSD - Seven Oaks School Division€¦ · Choose an Registered Education Savings Plan Provider To open an RESP, you can go to most banks, credit unions, group plan dealers and
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Like you, Seven Oaks School Division believes a good education is
where great futures start – and that includes the education your child
gets after high school. That’s why Seven Oaks School Division wants
you to know about Registered Education Savings Plans which are also
called RESPs. An RESP is an account you can open to start saving for
your child’s college, university, trade school or other studies after high
school. What’s really great is – in addition to the money you save – the
Government of Canada will add money to your child’s RESP through
the Canada Education Savings Grant and the Canada Learning Bond.
It’s like someone handing you money for your child’s education…and
you’ll be surprised at how quickly that money can grow. Before you can
get money through the Canada Educational Savings Grant or Canada
Learning Bond, you need to open a Registered Education Savings Plan
(RESP). The good news is that opening an RESP is easier than you
might think! Get a Social Insurance Number for yourself and your
child. There is no fee, but you will need some documents (such as a
Birth Certificate) to go with your application. Choose an Registered
Education Savings Plan Provider To open an RESP, you can go to most
banks, credit unions, group plan dealers and certified financial planners
who will meet with you to discuss your plan’s options. Choose
RESP & SOSDgiving education a growing chance
a guide to registered education savings plans that plant possibilities for your child’s future
You Get Money And Your Child Gets Opportunities
Like you, Seven Oaks School Division believes a good education is where great futures
start – and that includes the education your child gets after high school.
That’s why Seven Oaks School Division wants you to know about Registered Education
Savings Plans which are also called RESPs. An RESP is an account you can open to start
saving for your child’s college, university, trade school or other studies after high school.
What’s really great is – in addition to the money you save – the
Government of Canada will add money to your child’s RESP through
the Canada Education Savings Grant and the Canada Learning
Bond.
It’s like someone handing you money for your child’s
education…and you’ll be surprised at how quickly that
money can grow.
1 giving education a growing chance
2giving education a growing chance
Seven OAkS SChOOL DIvISIOn beLIeveS A GOOD eDuCATIOn IS Where GreAT fuTureS STArT
3 giving education a growing chance
How to Open a Registered Education Savings Planbefore you can get money through the Canada Educational Savings Grant or Canada
Learning Bond, you need to open a registered education Savings Plan (reSP).
The good news is that opening an reSP is easier than you might think!
1. Get a Social Insurance Number (SIN) for yourself and your child.
There is no fee, but you will need some documents (such as a birth Certificate) to go
with your application for your SIn. You can apply at any Service Canada Centre.
Check the phone book for locations or call 1-800-206-7218 (select option 3).
2. Choose a Registered Education Savings Plan Provider.
To open an reSP, you can go to most banks, credit unions, group plan dealers and
certified financial planners who will meet with you to discuss your plan’s options.
Choose the provider you are most comfortable with.
3. Choose which kind of Registered Education Savings Plan you want.
Like any type of savings plan, you have a lot of options. You want to make sure you
do what’s best for you and your child.
Your RESP provider can help you, but it’s always good to ask
It’s important to know that if your child doesn’t go to school after high school any reSP
money from the Canada Educational Savings Grant and Canada Learning Bond will
have to be returned (including interest earned on grant or bond money).
but the good news is all the money you saved yourself is yours to keep*. The money
you save will go to your family one way or another.
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*NOTE:AnyinterestyourRESPmadewillbetaxedwhenyou close your reSP without using it towards education. And the reSP will be taxable once a student uses the money for their education.
ThEMONEYYOuSAve WILL GO TO YOuRfAMIlYONEWAY Or AnOTher
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More RESP Information = The Best RESP For Your FamilyWhen it comes to registered education Savings Plans, the more you know, the easier it
is to make a decision about what will work best for you and your family.
Your reSP provider can tell you about all your options and the benefits of each choice.
but you can also learn more on your own before you meet with any potential reSP