Why are lower-income parents less likely to open an RESP account? The roles of literacy, education and wealthParents can save for their children's postsecondary education by opening and contributing to a Registered Education Savings Plan (RESP) account, which provides tax and other financial incentives designed to encourage participation (particularly among lower-income families). While the share of...
Publication Date: July 6, 2020
Topic: Asset building and saving, Poverty issues
Author: Aneta Bonikowska, Marc Frenette
Publisher: Statistics Canada
Content Type: Research
Format Type: Academic paper
Tag: Asset building, Canada, Canada Learning Bond, Education savings, Families, Financial literacy, High income, Household debt, household income, Household wealth, Investments, Low income, Post-secondary education, RESP, Saving, Youth
Location: Canada
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