Considering your options

There are plenty of ways to save for education. Count on your advisor to help you find the ones that make the most sense for your situation.

Today, education-savings options range from a simple savings account to the more complex formal trust account. Somewhere in the middle lie Registered Education Savings Plans (RESPs*) and “informal” trust accounts. All of the options offer specific advantages and have certain limitations, so it’s important to review them carefully with your advisor. Depending on your situation, you may need to use more than one type of plan to achieve your education-savings goals.

Prepare for an informed discussion.
Your education-savings options listed below offer a summary of the main advantages and potential limitations of the various options. It also indicates which individuals each option is suitable for, as well as any special considerations.

Be sure to review these options and make a list of questions to ask your advisor PDF document . By preparing in advance, you’ll be ready to have an informed discussion regarding potential options and their suitability to your specific education-savings needs.


Questions for your advisor PDF document

Use this page to note any questions you have for your advisor about each of the main education savings options.

Getting good advice