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Kelly Haefling
Beverly Dack

Toll Free: 1-800-603-1772
Tel: 519-376-6778
Fax: 519-371-2656

Address

887 3rd Avenue East, Suite 101
Owen Sound, ON
N4K 2K6
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Education Planning

The impact of missing a higher education can last a lifetime.

Have you thought about how you will pay for your child's post-secondary education? Faced with continually rising education costs, many people will have difficulty without the help of a formal education savings strategy.

At BMO Nesbitt Burns, we understand this dilemma and the importance of having the financial means to fulfill a child's dream of attending university. That is why we developed BMO Nesbitt Burns Education Planner®™, a proprietary planning program that we can use to formulate a saving strategy according to your budget and requirements.

Education Planner works by assessing and analyzing many factors specific to your individual circumstances. We look at your current savings, the number of children you have, their ages and the universities you'd like them to attend. Based on this information and our robust database of tax information and the current costs of more than 50 Canadian universities (and a few of the better-known U.S. schools), Education Planner builds a tailor-made strategy for you.

One component of this strategy can include a Registered Education Savings Plan (RESP). An RESP allows investment income within the plan to grow tax-deferred, which helps to speed the growth of your savings. In addition, you may be entitled to receive direct contributions from the federal government through the Canada Education Savings Grant (CESG). The federal government will contribute an Education Grant (CESG) of 20% to an annual limit of $500 (maximum lifetime limit of $7,200. Some families may be eligible for additional grants based on family income)