 Which Families Invest in Registered Education Savings Plans and Does It Matter for Postsecondary Enrolment?Marc Frenette Analytical Studies Branch Research Paper Series from Statistics Canada, Analytical Studies Branch Abstract: The registered education savings plan (RESP) savings vehicle is designed to encourage parents of school-age children to save for their children’s postsecondary education through tax sheltered earnings on contributions, as well as through additional contributions from the federal government. No recent evidence exists on the characteristics of RESP holders, and little exists on the association between having an RESP and enrolling in postsecondary education. This study makes three contributions to the literature. First, it documents differences in RESP holdings by family income and how these have evolved over time. Second, it decomposes these differences (particularly between the top and bottom quintiles of family income) into portions that are related to differences in key determinants of RESP participation (e.g., family wealth and parental education). And, third, it examines the relationship between having an RESP account and attending a postsecondary institution. Keywords: Sex; Savings; Postsecondary education; Parental educational attainment; Emotional well-being; Educational attainment (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:stc:stcp3e:2017392e Access Statistics for this paper More papers in Analytical Studies Branch Research Paper Series from Statistics Canada, Analytical Studies Branch Contact information at EDIRC. |
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