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RESPs (Registered Education Savings Plans) are great opportunities for parents to save towards their children’s post-secondary education. Unfortunately, with the cost of tuition constantly increasing, RESPs provide students an opportunity to attend post-secondary school without having to worry about impending finances.
RESPs are tax shelters that are tax-free until the beneficiary of the RESP withdraws the money. Registering for RESPs allows students you to be eligible for several government grants, such as:
