Many families unfamiliar with tax credits, grants and other financial assistance programs associated with post-secondary education
Revised folios provide tax guidance for clients who are parents, students or parents of students
With RESPs, clients can take advantage of the Canada Education Savings Grant
The case of a Canadian student studying in the U.S. brings to light what happens when CRA officials follow a strict and literal interpretation of the law
By starting a savings plan early, parents can reduce the burden of debt to pay for higher education
Despite concerns, only 35% take advantage of special education savings vehicles
Although the vast majority of Canadian parents save for their children’s education, many are concerned about how their kids’ educational costs will affect their own finances
Advisors should help clients discuss the importance of money management with their children
But students are thinking ahead and trying to save enough to be able to cover their academic expenses
Here are some ways to help your clients and their children save and budget for post-secondary education