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College and university are more important than ever before.
Generally, two out of every three new jobs require some form of post-secondary education. According to the 2006 Census, Canadians with a university degree earned an average annual salary of $56,048 compared to $37,403 for Canadians with a high school diploma.
Yet the cost of a post-secondary education keeps growing.
In 2009/2010, the average annual undergraduate university tuition for a full-time student was $4,917, compared to $3,328 in 1999/2000. But tuition and related fees are not the whole story.
They represent only about one-third of the expenses that students face each year. Add in accommodation, food, transportation, books, computers, leisure, and the cost increases substantially.
By setting aside education funds for your children now, you can help them towards earning a university or college degree and try to avoid amassing a crippling debt.
Remember, a post-secondary education is not just about improving your children's earning potential and standard of living. It can also contribute to personal growth and broaden their horizons.
Click here for more information about Educational Savings Plans
This publication and website are intended for Ontario residents only and the information contained is subject to change without notice. Mutual Funds are offered and regulated through Global Maxfin Investments Inc. (GMII). Insurance products (including Segregated Funds) and Income Tax Planning is provided under the name of Ausim Mobeen. GMII does not supervise these activities and will not be accountable, responsible or liable for such activities. This publication contains opinions of the writer and may not reflect opinions of GMII. The information contained herein was obtained from sources believed to reliable, but no representation, or warranty, express or implied, is made by the writer or GMII or any other person as to its accuracy, completeness or correctness. This publication is not an offer to sell or a solicitation of an offer to buy any of the securities. The securities discussed in this publication may not be eligible for sale in some jurisdictions. If you are not a Canadian resident, this report should not have been delivered to you. This publication is not meant to provide legal or account advice. As each situation is different you should consult your own professional advisors for advice based on your specific circumstances.
