In 2025, nearly three-quarters (71%) of parents and guardians of children under 18 years of age in Canada were saving for their children's postsecondary education through registered or other savings vehicles. This is up slightly from 2020 (69%).
These results are from the 2025 Survey of Approaches to Educational Planning, which gathered information from parents and guardians on the strategies they use to prepare for their children's postsecondary education, their plans for financing schooling and the barriers to saving for higher education.
More parents use a registered education savings plan
Among children younger than 18 years with postsecondary education savings, approximately 89% had a registered education savings plan (RESP) in 2025, up from 85% in 2020.
While RESPs were the most common method of saving in 2025, bank accounts in the child's name or in-trust accounts (used by 28% of parents) and tax-free savings accounts (28%) were also popular. Other less commonly used methods included mutual funds (14%), registered retirement savings plans (12%), registered disability savings plans (3%) and other types of investments (11%).
Over half (51%) of parents who were not saving for their children's postsecondary education reported planning to start later. Parents' most common reasons for not saving were that all available funds go toward day-to-day expenses (54%), they prefer to pay education costs when the time comes (33%) and they want to pay off debt first (27%).
