A number of factors influence school success: effort, parent involvement, healthy living, diet, sleep, etc. That being said, according to the Universitas Barometer, an annual survey of Quebecers’ savings habits, the ability to pay for school-related expenses is one of the most common challenges reported by parents and students when it comes to the pursuit of a post-secondary education.
In this regard, the numbers speak for themselves: education savings are linked to academic success. Here are four stats that prove this point:
- Knowing from childhood you have an RESP fosters school perseverance
62% of the respondents aged 18 to 24 view the Registered Education Savings Plan (RESP) as a key element in their motivation to pursue a post-secondary education.
Several graduates who benefited from RESPs opened by their parents confirm this: simply knowing this plan was available to them led them to pursue a higher education or to persevere during their school career.
Furthermore, as the RESP provides funds for a wide array of eligible school programs, both domestic and abroad, it constitutes a flexible investment that allows students to pursue an education that is truly in line with their interests and aspirations.
- Financial stress is no longer a roadblock to education
More than one-third of the young people surveyed reported they did not pursue a post-secondary education for financial reasons.
The costs associated with post-secondary education remain a major concern for young Quebecers and represent one of the most important roadblocks to higher education. However, students who receive RESP payments or financial assistance from their parents are generally less concerned money-wise than those who have to fend for themselves.
- Students with an RESP can focus all their attention on school
54% of students work part-time jobs to pay for their education, often in addition to another source of financial aid.
That means more than half of students have to work while pursuing their education. Although a summer or part-time job allows them to make their debut on the labor market, a demanding work schedule during the school semester could jeopardize their academic performance.
Students with an RESP can focus all their energy and attention on their education.
- Government grants promote access to education for all
Each dollar invested in an RESP attracts 30% to 60% in grant money.
By introducing generous education savings grants, the Government of Canada and the Government of Quebec wished to promote access to education for all. In addition, thanks to the Canada Learning Bond―offered to families with several children or of more modest means―it’s possible to receive an extra $2,000 per child! With Universitas, eligible families can start to receive the CLB as soon as they open an RESP, with no obligation to make contributions.
 Certain conditions apply. See our prospectus (lien) for the list of eligible studies.
The Canada Education Savings Grant (CESG): equal to 20% to 40% based on adjusted family net income. The Quebec Education Savings Incentive (QESI): equal to 10% to 20% based on adjusted family net income. Certain conditions apply; see our Prospectus at universitas.ca
 The Canada Learning Bond (CLB) totally up to $2,000 per beneficiary. The CLB is offered to financially eligible families with children born after December 31, 2003. Certain conditions apply; see our prospectus at univeristas.ca