Recent trends in Registered Education Savings Plan holdings by income, immigrant status, Indigenous identity and province

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.