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Canada Education Savings Program: Annual Statistical Review 2011.

ERIC Descriptors: Educational Finance; Foreign Countries; Grants; Statistics; Money Management; Paying for College; Program Design; Postsecondary Education; Trusts (Financial); College Bound Students; Parents; Low Income Groups; Age Differences

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The Canada Education Savings Program has been an initiative of the Government of Canada since 1998. As part of the Department of Human Resources and Skills Development, the program administers the Canada Education Savings Grant and the Canada Learning Bond. These two initiatives help Canadian families save for a child's post-secondary education in Registered Education Savings Plans (RESPs). Although any person can be named by a subscriber of an RESP to receive money for education after high school, the Annual Statistical Review only reports on those who have received any of the Government of Canada incentives to save in RESPs which are available to children 0 to 17 years of age. This report provides annual statistics on the CESP and RESPs in Canada from January 1 through December 31, 2011. The report is made available online for the benefit of a range of external partners and stakeholders (i.e. financial institutions, other government departments, provincial and territorial governments and members of the general public). The primary source of data used to produce this report is the Canada Education Savings Program's Reporting Database, which compiles Canada Education Savings Grant and Canada Learning Bond data supplied by RESP providers. Canada Education Savings Grant statistics are calculated based on the transaction date, which is the date that an application is filed or a transaction is made, while Canada Learning Bond statistics are calculated based on the processing date (to be consistent with the reporting of Canada Learning Bond payments), which is the date that the grant is paid. Two major changes have been made to this report: the use of 2011 Census data to calculate program participation rates and the use of new postal code and address information obtained from Statistics Canada to assign address data more accurately to provinces and territories. As a result, some provincial statistics may not be comparable to those reported in 2010.

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Publication:ERIC: Reports
Article Type:Abstract
Geographic Code:1CANA
Date:Jan 1, 2011
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