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  #1  
June 9th, 2009, 11:14 AM
Laney21's Avatar Platinum Supermommy
Join Date: Nov 2005
Location: NB, Canada
Posts: 21,661
Do you have money saved for your kid's college tuition?
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  #2  
June 10th, 2009, 09:19 PM
Mega Super Mommy
Join Date: Dec 2008
Posts: 2,914
Both of our kids have savings accounts. We have decided that what they choose to do with the money is up to them although we would prefer it be used for college.
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  #3  
June 11th, 2009, 01:21 PM
Laney21's Avatar Platinum Supermommy
Join Date: Nov 2005
Location: NB, Canada
Posts: 21,661
We have RESP's set up for them, so when they are at a certain age, they can choose what to do with it. If they want to cash it out, they can only get the amount that we have paid into it. But if they use it for college, then the govt matches up to a certain amount of our payments, so it's worth a lot more that way.
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  #4  
June 12th, 2009, 05:39 PM
Mega Super Mommy
Join Date: Dec 2008
Posts: 2,914
Quote:
Originally Posted by Laney21 View Post
We have RESP's set up for them, so when they are at a certain age, they can choose what to do with it. If they want to cash it out, they can only get the amount that we have paid into it. But if they use it for college, then the govt matches up to a certain amount of our payments, so it's worth a lot more that way.
That's awesome! I wonder if the US has a program like that.
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