Saving for postsecondary education
Sophie Lefebvre
- In 2002, half of children under 19 had an average of $8,600 put aside for them by their parents for postsecondary education.
- Higher-income families saved more than lower-income families, but half the difference was explained by factors other than income.
- Children in mortgage-free homes had greater savings than those from mortgaged or rented homes.
- Regardless of income level, children whose parents were aware of the Canada Education Savings Grant had significantly more savings than those whose parents were unaware of the program.
- Parents who expected their child to receive grants for postsecondary education based on financial need saved significantly less. Almost a third of all children under 19 had parents who expected them to receive such assistance, even though it is likely that many will not.
Full article: HTML | PDF
Author
Sophie Lefebvre is with the Income Statistics Division. She can be reached at (613) 951-5870 or perspectives@statcan.gc.ca.
You need to use the free Adobe Reader to view PDF documents. To view (open) these files, simply click on the link. To download (save) them, right-click on the link. Note that if you are using Internet Explorer or AOL, PDF documents sometimes do not open properly. See Troubleshooting PDFs. PDF documents may not be accessible by some devices. For more information, visit the Adobe website or contact us for assistance.
|
