Have You Thought About Your Children's Future? You could be eligible for $500.00 FREE right now towards your child's future education.  You DON'T NEED TO INVEST ANY OF YOUR OWN MONEY.  The Government of Canada wants to help you save for your child's education.  Open a Registered Education Savings Plan (RESP), and over time you could be eligible to receive up to $9200.00 through the Government Of Canada's Education Savings Program (CESP).  Let us assist you in understanding how this works! Have You Already Opened an RESP For A Child? If you are already one of many Canadian family members who have began to plan for a child's future education, you may be eligible to enter our draw for a $2500 RESP Scholarship from the Royal Bank and ILRC.

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Get the Facts Now! : Download our Fact Sheets

• Fact Sheet 1: Get Just The Facts About RESPs (pdf)
• Fact Sheet 2: Get Just The Facts About the Types of RESPs (pdf)
• Fact Sheet 3: Get Just The Facts About Canada Learning Bonds (pdf)
• Fact Sheet 4: Get Just The Facts About Canada Education Savings Grant (pdf) 
• Fact Sheet 5: Get Just The Facts About Investing Your RESP Savings (pdf) 
• Fact Sheet 6: Get Just The Facts About Using Your RESP Savings (pdf) 

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Resource Links:

Canlearn
www.canlearn.ca
Canlearn is a Government of Canada website that provides students and parents with resources and information to help save, plan and finance post-secondary education.

Human Resources & Social Development Canada
www.hrsdc.gc.ca
Human Resources and Social Development Canada provides information specific to the Canada Learning Bond (CLB) and the Canada Education Savings Grant (CESG). If you are looking for information or answers to FAQs about the Canada Education Savings Program (CESP) this site can help.

Canada Revenue Agency
www.cra-arc.gc.ca
The Canada Revenue Agency provides information about rules and regulations regarding income tax, subscriber and beneficiary eligibility, RESP contributions and RESP payments.

Canadian Foundation for Economic Education
www.buildingfuturesnetwork.com
The building futures network is a great resource and learning tool to help family’s budget and learn more about saving for their children’s post-secondary education. The building futures network is a product of the Canadian Foundation for Economic Education.

Financial Consumer Agency of Canada
www.fcac-acfc.gc.ca
The Financial Consumer Agency of Canada is an independent body working to protect and inform consumers of financial services. It provides students with learning tools for budgeting and programs for financial literacy.

Service Ontario
www.serviceontario.ca
Service Ontario is the main contact for Birth Certificate inquiries. If you or your child does not have a birth certificate, visit your nearest Service Ontario office or visit the website to fill out an online application.

Service Canada
www.servicecanada.gc.ca
Service Canada is the main contact for Social Insurance Number (SIN) inquiries. If you or your child does not have a SIN, visit your nearest Service Canada office or visit the website to fill out an online application.

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Did you Know?

A Registered Education Savings Plan (RESP) is one of the most effective ways for families to save for their children’s post-secondary education.

Why?

RESPs are effective savings instruments because of the special incentives the Government of Canada offers for families that open RESP accounts.

What kind of Incentives?

There are many incentives to open an RESP account, especially for modest income families:

1. Your saving contributions are tax-free…which means the government will allow your money to grow without taxing it as income as long as it remains in your RESP account.
2. Not only does the Government of Canada not tax RESP contributions, but it will actually give your family FREE $$$ to help you save for your children’s post-secondary education. Through the Canada Learning Bond (CLB) and the Canada Education Savings Grant (CESG) your child can receive up to $9,200 FREE from the government. Eligibility for the CLB and CESG are based on a mixture of a family’s income and RESP contribution levels. Basically, the lower income a family has, the more FREE $$$ the government will contribute!
3. The money you and the government contribute into your RESP will grow exponentially from compound interest. Over time, this investment could add up to a surprisingly large amount of funds to pay for your child’s future education costs.
4. In Canada, tuition is rising at an average annual rate of 4.3%. This means in the future your child will have to borrow more to pay for their post-secondary education. Why not save now, take advantage of tax-free contributions and help offset your child’s future costs to access post-secondary education.
5. Finally, if you open an RESP in Northwestern Ontario, the ILRC will put your name in a draw to win an additional $500 to contribute towards your RESP investment!

Our Goal

The goal of ILRC’s Investing in Futures initiative is to increase the amount of RESPs being opened in Northwestern Ontario and to create financial inclusiveness for persons of all income and ability levels. With a mandate to foster independent lifestyles for modest income and persons with disabilities, ILRC will be visiting communities in Northwestern Ontario and providing education and information about RESPs and the many incentives offered by the Government of Canada through the Canada Education Savings Program (CESP). Ultimately, the ILRC is working for families in Northwestern Ontario to be equal in their abilities to access post-secondary education in a time of rising tuition costs and widening gaps in financial literacy among northern - rural communities.

For more information about RESPs and upcoming workshops, please contact us directly:

Josh Valley
Outreach Coordinator - Investing in Futures Initiative
(807) 577-6166 ext.6 
outreach@ilrctbay 

...Take the next step in planning for your child’s future.