Marta Received an Inheritance of $20 000 and Wants to Allocate

question 6

Multiple Choice

Marta received an inheritance of $20 000 and wants to allocate it towards her six-year-old son's education in the most effective manner.Which of the following considerations will have the greatest financial impact?

• A)Contributing to an RESP in such a way as to collect the maximum Canada Education Savings Grant
• B)Benefiting from the tax deferral in an RESP account as quickly as possible
• C)Applying for the Canada Learning Bond as soon as possible
• D)Collecting the maximum Educational Assistance Payments in the RESP account

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