Does Saving in a RESP Really Pay Off? Do the Math and See for Yourself!

It’s common knowledge that the cost of education is constantly on the rise. But what does that represent exactly? Well, while it currently costs approximately $100,000* to complete two years of CEGEP and three years of University in the province of Quebec, projections show that this sum will rise to a little over $138,000* for the same education in 2035.

So how are parents to tackle this problem? How can they ensure they have the funds to help pay for their children’s education, allowing them to graduate and get off to a good start with minimum student debt? The answer is simple: by investing in a registered education savings plan or RESP. This savings vehicle allows you to save for post-secondary education and is the only financial product eligible for substantial government grants that top up your contributions, up to $12,800** per child.

So when should parents start saving? An early investment is always the best course of action since you save and receive grant money over a longer period, which means more investment growth. That being said, it’s never too late to start saving!

If you want to know how much you could save with an RESP if you start contributing now for your child today, we’ve got you covered! Try out Universitas Financial’s online RESP calculator! With over 50 years of expertise, this RESP industry leader offers a tool that shows you just how far $20 (or more) a month can go. Do the math and see for yourself what your investment could be worth!


Remember that regardless of the amount you invest, the day your children are ready to begin their studies, they will be grateful that you took a proactive step to help them pursue their dreams.

*Cost to complete two years of CEGEP and three years of university in Quebec, housing included. Yearly increase of 1.7%. Sources: Ministère de l’Éducation, du Loisir et du Sport, Ministère de la Famille du Québec, Statistics Canada and CMHC.

** Canada Education Savings Grant (CESG) of 20% to 40% and Quebec Education Savings Incentive (QESI) of 10% to 20%, based on adjusted family net income. The annual CESG limit is set at $600 and the lifetime limit is set at $7,200 per child. The annual QESI limit is set at $300 and the lifetime limit is set at $3,600 per child. CLB: Canada Learning Bond of up to $2,000 per beneficiary, for children born after December 31, 2003, for whom the family receives the National Child Benefit Supplement. Certain conditions apply. Refer to the prospectus at



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