Financial resources invested in education
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- Articles and reports: 36-28-0001202200900001Description:
Registered Education Savings Plans (RESPs) are an important vehicle to help families save for postsecondary education. However, large differences in RESP savings persist between families of different income levels, despite targeted incentives aimed at encouraging low- and middle-income families to open RESP accounts and contribute to them. This article documents the differences in RESP contributions between families with different levels of income and liquid wealth.
Release date: 2022-09-28 - Articles and reports: 36-28-0001202200500003Description:
Registered Education Savings Plans (RESPs) are part of the suite of government programs designed to encourage youth from traditionally low enrolment groups to consider postsecondary studies as a viable option. Since the mid-2000s, lower- and middle-income parents of children under age 18 have had strong financial incentives from government to open an RESP and make contributions. A previous study based on 2012 data showed that RESP holdings were most prevalent among high-income, high-wealth, and highly-educated parents. The purpose of the current study is to update these findings and to expand the analysis to include results by immigrant status, Indigenous identity, and province of residence.
Release date: 2022-05-25 - Articles and reports: 36-28-0001202100100003Description:
This Insights article examines changes in parental expectations—between before and after the beginning of the COVID-19 lockdown—that their children will pursue postsecondary education. The study looks at whether parental expectations of their children to attain further education and their plans for helping their children with the financial aspects of postsecondary education—through savings and other means—have changed since the arrival of COVID-19. The analysis is based on the Survey of Approaches to Educational Planning (SAEP), conducted between February 2 and June 20, 2020. The sample includes children aged 17 and younger who had not yet started any postsecondary education and whose parent or legal guardian responded to the survey.
Release date: 2021-01-27 - Stats in brief: 45-28-0001202100100002Description:
This article examines whether parental expectations of their children to attain further education and their plans for helping their children with the financial aspects of postsecondary education—through savings and other means—have changed since the arrival of COVID-19. The analysis is based on the Survey of Approaches to Educational Planning (SAEP), conducted between February 2 and June 20, 2020.
Release date: 2021-01-27 - Articles and reports: 11F0019M2020012Description:
The Government of Canada offers various financial incentives for parents to save for their children’s postsecondary education by contributing to a Registered Education Savings Plan (RESP). However, RESP participation rates tend to rise substantially with family income, and previous research has demonstrated that family wealth was the single most important reason for this trend (among factors that could be examined). This study explores whether differences in parental literacy, numeracy and financial literacy can further account for some of the gap in RESP participation by level of family income.
Release date: 2020-07-06 - Articles and reports: 11-626-X2017071Description:
This Economic Insights article documents the characteristics of families with children under the age of 18 who hold registered education savings plan (RESP) investments. The article also examines the relationship between holding an RESP account at age 15 and postsecondary enrolment between the ages of 19 and 27. The data are drawn from the 1999 and 2012 Survey of Financial Security and from the Youth in Transition Survey, Cohort A, linked to the T1 Family File. Postsecondary enrolment is derived from education deductions and tuition credits in the tax data.
Release date: 2017-04-12 - Articles and reports: 11F0019M2005244Geography: CanadaDescription:
This comparative study investigates the role of family background characteristics in postsecondary access in Canada and the United States. Given that postsecondary schooling is funded very differently in the two countries, family background may play substantively different roles. The findings suggest that university-going is less common among lower-income students and members of a visible minority group in the U.S. than among their Canadian counterparts. Some possible reasons are discussed.
Release date: 2005-03-15
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- Articles and reports: 36-28-0001202200900001Description:
Registered Education Savings Plans (RESPs) are an important vehicle to help families save for postsecondary education. However, large differences in RESP savings persist between families of different income levels, despite targeted incentives aimed at encouraging low- and middle-income families to open RESP accounts and contribute to them. This article documents the differences in RESP contributions between families with different levels of income and liquid wealth.
Release date: 2022-09-28 - Articles and reports: 36-28-0001202200500003Description:
Registered Education Savings Plans (RESPs) are part of the suite of government programs designed to encourage youth from traditionally low enrolment groups to consider postsecondary studies as a viable option. Since the mid-2000s, lower- and middle-income parents of children under age 18 have had strong financial incentives from government to open an RESP and make contributions. A previous study based on 2012 data showed that RESP holdings were most prevalent among high-income, high-wealth, and highly-educated parents. The purpose of the current study is to update these findings and to expand the analysis to include results by immigrant status, Indigenous identity, and province of residence.
Release date: 2022-05-25 - Articles and reports: 36-28-0001202100100003Description:
This Insights article examines changes in parental expectations—between before and after the beginning of the COVID-19 lockdown—that their children will pursue postsecondary education. The study looks at whether parental expectations of their children to attain further education and their plans for helping their children with the financial aspects of postsecondary education—through savings and other means—have changed since the arrival of COVID-19. The analysis is based on the Survey of Approaches to Educational Planning (SAEP), conducted between February 2 and June 20, 2020. The sample includes children aged 17 and younger who had not yet started any postsecondary education and whose parent or legal guardian responded to the survey.
Release date: 2021-01-27 - Stats in brief: 45-28-0001202100100002Description:
This article examines whether parental expectations of their children to attain further education and their plans for helping their children with the financial aspects of postsecondary education—through savings and other means—have changed since the arrival of COVID-19. The analysis is based on the Survey of Approaches to Educational Planning (SAEP), conducted between February 2 and June 20, 2020.
Release date: 2021-01-27 - Articles and reports: 11F0019M2020012Description:
The Government of Canada offers various financial incentives for parents to save for their children’s postsecondary education by contributing to a Registered Education Savings Plan (RESP). However, RESP participation rates tend to rise substantially with family income, and previous research has demonstrated that family wealth was the single most important reason for this trend (among factors that could be examined). This study explores whether differences in parental literacy, numeracy and financial literacy can further account for some of the gap in RESP participation by level of family income.
Release date: 2020-07-06 - Articles and reports: 11-626-X2017071Description:
This Economic Insights article documents the characteristics of families with children under the age of 18 who hold registered education savings plan (RESP) investments. The article also examines the relationship between holding an RESP account at age 15 and postsecondary enrolment between the ages of 19 and 27. The data are drawn from the 1999 and 2012 Survey of Financial Security and from the Youth in Transition Survey, Cohort A, linked to the T1 Family File. Postsecondary enrolment is derived from education deductions and tuition credits in the tax data.
Release date: 2017-04-12 - Articles and reports: 11F0019M2005244Geography: CanadaDescription:
This comparative study investigates the role of family background characteristics in postsecondary access in Canada and the United States. Given that postsecondary schooling is funded very differently in the two countries, family background may play substantively different roles. The findings suggest that university-going is less common among lower-income students and members of a visible minority group in the U.S. than among their Canadian counterparts. Some possible reasons are discussed.
Release date: 2005-03-15
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