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ms economist lsiwy sbhulwueitiibunliuesday 0ct3 1999 21 advertising feature k save now for childs education nc in 18 years the cost of sending a child to university will cost more than 66000 for tuition alone and thats for a basic degree not a specialized one such as engineering the rising costs of a higher education have motivated many parents to start saving for their childrens education sooner rather than later a mere 100 invested monthly at eight per cent compounded monthly can grow to almost 35000 before taxes in 15 years registered education savings plans resps are a popular way to save for higher education a resp is a taxsheltered invest ment plan designed to help finance your childrens post- secondary education the person putting money into the resp does not get a tax deduction but any income earned on the contribution grows taxfree until the child is ready for postsec ondary education when the child attends university he or she becomes eligible to receive the accumulated income from the plan income from trie plan is taxed in the childs hands while contributions are returned to the contributor taxfree the maximum annual contribution per plan is 4000 canada education savings grants the canada education savings grant the person putting money into the resp does not get a tax deduction but any income earned on the contribution grows taxfree until the child is ready for postsec ondary education should provide additional incentive to use resps under this new program the federal government will contribute a grant which represents 20 per cent of the first 2000 in annual contributions made to an resp for children up to the age 18 the maximum grant is 400 per child per year grant contribution room can be carried forward to future years this means if you have been unable to make contributions for one or more years you may catch up what do you do if the child decides not to attend university or college you may select another beneficiary to receive the bene fit of the resp as allowed by your plan if the resp has been in existence for at least loyears and all beneficiaries are at least 21 years of age and not pursu ing higher education you can transfer the proceeds into your own or spousal rrsp provided there is avail able contribution room up to 50000 alternatively you may be able to take the hioney in cash if you go this route the gross withdrawal is included in the contributors income and subject to income tax at the marginal tax rate plus an additional 20 per cent penalty it is important that you consult a financial advisor to ensure that any education savings plan will fit in with your overall investment plan and tax strategy this article was submitted by the investors group childrens hoase child gare a new centre fporn upper canada child care day care for children ages 13 months to 12 years programs include toddler preschool juniorsenior kindergarten narsery school school age childrens house child care is a government licensed nonprofit centre located in the heart of stoat fville at 22 church street alorffi please call allison shields 905 6w2905 f ju0 iiivmimw i 1 getyourmoneys w mi mic only 65 schools in canada have earned the right to carry the skills 2000 logo make sureyou get what you paid fori iviicrosofti illsisllpl swm i m professional jsfisitmmi5 sggmr3sjs- du r m am durham qollege uxbridge campus gal nowi 9os 72 1 3340 youre invitee to visit somerset academy open house sat nov 20 11 am 3 pm here is your opportunity to observe and compare somerset academys commitment to excellence in education a coeducational nondenominational day school for kindergarten through grade 8 students somerset has been committed to excellence in education since 1974 somersets supportive environment includes full day junior senior kindergarten specialists for all grade levels in instrumental vocal music dedicated teaching staff small classes with personalized programming enrichment program a full range of extra auricular activities visual arts french physical education computers 90 5940899 7700 brimley road markham 2 km from 404 at 14th ave advertisement trillium montessori wins best private school trillium montessori school is an independent coeducatiohal school located in unionville accommodating students from preschool to grade 8 trillium believes in a balanced approach to education high academic standards are successfully merged with social opportunities and life experiences to develop the whole child from preschool to kindergarten the school adopts the montessori methodology in its teaching this childcentred approach to education immerses children in an environment that is stimulating well- structured and disciplined students learn through hands on experiences the curriculum set out by the ministry of education forms the minimum standards of the elementary program trillium believes that students learn most effectively when expectations are high and the academic environment challenges them to reach their full potential all students are given opportunities for academic enrichment and trained to become creative independent thinkers the staff at trillium is committed to providing the best education possible this not only takes into consideration a strong academic program but moral social and emotional- development as well at trillium there is a- warm and supportive school environment in which students are encouraged to participate and excel in all areas of school life this includes among other things sports stage productions outdoor education and music festivals the friends they meet and the experiences they have are ones that trillium students will remember and cherish the knowledge skills and attitudes toward learning that students acquire will stand them in good stead and will 1 help ensure success in all their future academic and occupational pursuits where do holy trinity school graduates gof cornell university dartmouth college harvard university mcgill university mcm aster university queens university simon fraser university university of british columbia university of- toronto university of waterloo university of western ontario and anywhere else they want to thursday october 28th 1999 visit our website wwwhtsonca 15 holy trinity school 11300 bayview avenue richmond hill ontario l4s 1l4 905 lyjma m 905 7375187