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In Canada, Registered Education Savings Plans, or RESPs, can serve as a helpful way to invest in a child’s future education and are offered through organizations like Children’s Education Funds Reviews (CEFI). Once a child is born, parents can set up an RESP and contribute to the RESP, with the money growing tax-free for as long as it stays inside the plan. The sooner you start to invest in your child’s future education, (think 18 years) the more you can save.