RESP DEALERS ASSOCIATION OF CANADA/USC EDUCATION SAVINGS PLANS
OVERVIEW
University Scholarships of Canada (now Knowledge First Financial) wanted to promote parental savings for post-secondary education and secure government financial support for the sector.
RESP Dealers Association of Canada/USC Education Savings Plans
BROWN & COHEN SOLUTION
- Work with government to develop incentives for families to save for post-secondary education.
- Help the Government of Canada institute a federal program to top-up contributions to RESPs by Canadian families.
- Use media and government relations to grow awareness of the industry amongst key audiences.
THE RESULT
- Helped increase the limits of what parents could contribute per child on an annual basis.
- Facilitated the introduction of the Canada Education Savings Grant which provided up to $7200 from the federal government for each child through a contribution of up to $400 per year.
- Parental savings for post-secondary education for their children grew from $2 billion to $20 billion per year over a 10 year period.
