Achieve Higher Education with Heritage RESP

The constant rising cost of higher education has been causing a tough time to a number of Canadian children and parents. Undeniably, sending a child to an excellent university can cost a lot; therefore, higher education can be impossible for children who come from low income families. This is the very reason why the government of Canada has been working out ways and means on to make higher education possible for anyone who wants to go for it. Thanks to this effort, various programs that aim to help millions of families with regards to providing the highest possible level of education for their children have now been developed.

One of the most effective of such programs is the RESP or Registered Educational Savings Plan. RESP, is created to ensure that each and every Canadian child whether rich or poor is given the equal opportunity to pursue higher education and to push through with whatever career path they may want to pursue. Under this program, parents are given the liberty to embark on a low risk investment plan on which contributions are highly dependent upon their convenience as well as their financial capabilities.

 Aside from the returns that parents will be able to avail from their investments, their children, being the beneficiaries of the RESP program are more inclined to benefit from all the other financial assistance programs of the Canadian government, such as the Canada Learning Bond and Canada Education Savings Grant. In this manner, parents can be rest assured that their children will never be deprived of higher standards of education no matter what happens along the way. 

One convenient way to reap the benefits of RESP is by contacting a highly dependable RESP provider. One of the most popular of which is the Heritage Education Funds Inc. This RESP provider has been in the industry for more than 50 years and has since been helping out thousands of Canadian families in providing the highest standards of education for their children. Heritage RESP offers a number of flexible payment terms to prioritize those low income families, when it comes to supporting their children’s higher education needs. Being associated with numerous financial assistance programs by the government, with an unwavering stability and having helped thousands of Canadian children in making their dreams possible; this company is definitely the best choice when it comes to a RESP provider.

RESP and Its Importance

 

With the cost of higher education becoming costlier year by year, parents’ from the lower income groups are worrying about the future of their children. Without higher education, there is no career or life. Good college education makes a person confident and talented. It bring out the potential skills making the person reach new height in his/her career and contribute to the economy of the country.

Many parents wonder how to make money to meet the expenditure of their children's higher education. These parents fail to see the plans available for them to make the financial commitment for the future of their children easy. There are plans and programs offered by the government of Canada that assists parents through financial aid. But this aid is not sufficient to meet the rising costs of the higher education.

The Registered Education Savings Plan allows the parents to invest small amount of money whenever they can, which gives them good returns. This plan is approved by the government. The income that the parents receive on the money invested is exempted from Income Tax. RESP plan is offered by all the banks and the financial institutions. But all are not worth trusting with your money.

The Heritage Education Savings Plan Inc. is the oldest service provider who sells only the RESP plans. They have been helping parents all over the country to save for the future of their children since 50 years. So far they have made payout of $900 million as Education Assistance payments to over 400,000 families. The well trained and knowledgeable professionals at Heritage know where to invest to get competitive returns for their subscribers’ money.

The beneficiaries of the Heritage RESP get financial aid from the other education programs associated with this plan. The parents can choose a plan as per their needs and they can include multiple children under one plan. With some basic documents and the Social Insurance Number of the children, you can easily start the RESP plan. The plan matures on the 31st of July the year the beneficiary turns 18 years old. This plan prepares the parents completely to meet the expenses of higher education of their children.