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RESP DEALERS ASSOCIATION OF CANADA/USC EDUCATION SAVING PLANS

overview

OVERVIEW

This national body wanted to promote savings for post-secondary education and secure government financial support for the sector.
RESP Dealers Association of Canada/USC Education Saving Plans
B&H Solution

BROWN & COHEN SOLUTION

  • Work with government to develop incentives for families to pursue 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 the industry from $2.5 billion in 1998 to almost $20 billion in 2006.
the result

THE RESULT

  • The introduction of both the Canada Education Savings Grant and the Canada Learning Bond, which grew parental savings from $2 billion to $20 billion in a 10 year period
  •       The Government of Canada introduced the Canada Education Savings Grant (CESG) program and subsequent changes for low and middle-income parents
  • In Ontario in 2001, an Ontario RESP tax credit was introduced through a private members bill and passed with all-party support. The tax credit was doubled at committee level, but it fell off the table when the legislature rose.