Wrote this in 2012 as my daughter was graduating from University. This was my oldest, who I learned a lot about RESPs with.
For those wondering where I might have been yesterday, I took a day off to attend my daughter’s graduation ceremony at WLU in Kitchener. I haven’t actually taken a planned day off for a long time (my Dad’s death last year was the last “break” I took from writing).
As a proud Dad I was happy to see my daughter succeed and reach her goal, but as she was handed her diploma this thought came to mind:
So that is what $50,000 looks like? {but then after a moment I had a further thought} Best investment I’ve ever made.
Indeed, it is hard to get your head around paying that much money and at the end of it your child has a piece of paper and no real guarantee of employment, however, as a parent the sense of pride silences the nasty inner financial demons that keep asking, “… was that really a good use of your money?“. Whether my child gets a job, or whether their degree helps them is a risk I (as a parent) am willing to take (hell I have invested in much riskier things and been paid back much less).
Best Investment ?
I have made a career complaining (aka Blogging) about University Costs, and I will continue to rant about the cost of Post Secondary Educations in Canada (the costs are outrageous at times), however, I am still willing to pay for it as an investment in my child’s future. If you can’t invest in your child’s future with money, help out in other ways, it is a good use of your time and resources. An RESP is still your best option if you want to help out financially.
Good luck, Bonne Chance and cheers to all the Graduating Students!
I am shocked and awed about the costs of school both here and the USA. BUT, I am vexed when a person goes in $200,000 worth of debt (in the USA) at one of the “Named” universities, then goes out and gets a $20,000 per year job in the non-profit sector. In what CENTURY do they think they will finish PAYING off that school debt? I am more vexed that someone does not belt them upside the head and ask “Are you flipping STUPID????”
OTOH, I have heard students saying “Oh THAT assignment is only worth 0.5% of the overall mark so I can’t be arsed to do it.” Stupid is as stupid does!