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Funding an Education

If you are fortunate enough to have an RESP or a whole-life with dividends purchased by your parents when you were born, you are ahead of most people.

Some parents were not aware of the investment types that they could open or simply didn’t have the budget to do it and time goes fast, if time has caught up with you and you are now ready to start post-secondary school you have a few options to fund your education

Here are some things to consider:
  1. If you are under 15 years old you can still open and RESP and have up to the year you turn 17 to contribute and benefit from government grants.
  2. Apply for OSAP (Ontario Student Assistant Program) For full details on how to apply please visit OSAP has two types of funding: grants (money you don’t have to pay back) and loans (money you have to repay when you finish school). Please review your eligibility. Note that the loan payments do not start until 2 years after you have completed your studies
  3. Bank Student loans, for these loans is likely your parents need to help by co-signing, check the rules of the specific institutions before you apply. Note that most bank loans require payments immediately after you receive an sum of money in most cases interest only is acceptable until you complete your studies.
  4. Ensure that you create a repayment plan for the loans you took, and start an budget immediately. This will get you into the habit of managing your finances.

For more information about how to enter the next phase of your life and the financial steps you need to follow book a complimentary Financial Health Assessment.






"I always wanted to talk to someone who could help me get my financial goals in order. I know I needed to get to this part but had no clue how to or who to get? When I spoke to friends they were in the same position. Araceli was amazing no question was dumb or any thing I had did in the past could not be fixed.

I feel/know Araceli got my life in order and regained happiness to my out look on my future. Does that sound dramatic...YES... but it is true!

I now have correct insurance coverage, my budget is fair I am not in the poor house every pay week and I have a feeling of safety and freedom. I love seeing her and she keeps me in check. I will always have this lady in my back pocket she has become a friend."

Christine Macvicar (Single professional)Mississauga

I met Araceli Hernandez about 9 years ago. One of the best decisions I ever made was to meet with her about financial planning. She wasn't pushy and listened to my concerns. I appreciated her vast knowledge and expertise. Fast forward 9 years later and I'm in a very good financial situation because of Aracelli's advice. My son is also well on his way to saving for his future. I strongly believe that everyone should have a financial advisor but working with someone like Aracelli is key to making well-informed decisions.

Patrice Palmer (Single Professional) Burlington

“I’ve worked with Araceli and feel she is the best. She works hard, knows her stuff and has integrity. She works with your budget and presents you with options that work for your situation and lifestyle. ”

Dana Castro (owner of three crowns studio) Mississauga