Making the dream of higher education possible

Whether you’re a parent, grandparent, relative or close family friend, you want to see the young people in your life succeed. And what better way to provide them with a brighter future than through access to post-secondary education?

Alternatively, you may have set your sights on a post-secondary education for yourself. Recognizing the advantages that post-secondary education can bring, many adults are also considering returning to school.

It's no secret that the costs of post-secondary education are rising. Being able to enjoy its many benefits can often come down to affordability. By planning ahead, you can make the dream of higher education possible.

Benefit from your advisor’s guidance
As with all financial goals, the best way to save for higher education is by working with your financial advisor. Your advisor can help you quantify your education-savings needs and sort through the various options to develop a plan that balances your education-savings goals with your other financial priorities.

This guide can help you fully benefit from your advisor's knowledge and expertise as you save for education. You'll find the tools and checklists useful for gathering information, raising questions and identifying issues that may influence your plan.

Why get started now?
Putting off saving for education will always be tempting. After all, the time when money will be needed can seem like a long way off, and there’s always something else to spend the money on. But if you want to make saving for education more affordable, the best way is to start saving right away.

Lower overall costs
The sooner you start setting money aside, the less you will have to save in total. That’s because your money will have more time to benefit from compound growth. For example, if you want to accumulate $50,000 by the time your newborn turns 18, starting right away means setting aside $129 per month, assuming a 6% after-tax return. But wait until he or she heads off to Grade 1 and you’d have to put away $211 each month to achieve the same goal.

Getting good advice