What are some of your best tips for saving for post-grad education?
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What are some of your best tips for saving for post-grad education?
I wish I had any great tips to share. :)
I have a time-line and a goal... but at the same time I can't actively work towards my goal until baby J is in school. I have my hands full with him as it is... so hopefully I'll figure out a way to put together some $.
So, I've found out about the Lifelong Learning Plan...
http://www.cra-arc.gc.ca/tax/individ...lp/menu-e.html
If push comes to shove I may be able to borrow from my RRSPs... but I'd rather not do that.
So the question is - should I continue to save for 'retirement' (I put retirement in quotation since I'm a SAHM) or should I save as much as possible now for school so I don't have to touch the retirement funds? When I'm working in my field I'll be able to save more towards retirement anyway.
I think what are you looking for can be found on CANLearn web-site. http://www.canlearn.ca/cgi-bin/gatew...rn/en/home.asp
If not, I'm sorry .... Good Luck!
If this works like the Home Buyers Plan, you'll have to make yearly repayments back into your RSP. You would lose any potential compounding, but your contribution room would remain intact.Quote:
Originally Posted by Julie Andrews
Maybe you can take 50% from your regular RSP contribution to use toward post-grad... You would have to repay what you take from RSP if I inderstand things correctly. Student line of credit may work too -
Sorry but what exactly do you mean by post grad?
And most programs, except for MBA I think, pay you.
It's the Masters in Occupational Therapy that I'm interested in... As far as I know they don't pay you.
Plus I'll also have to pay for daycare for my son while I'm studying.
Day care is very expensive. I think it's better to wait until he starts school. But then again the first year of school is half school half day care.
hmmm :icon_scratch:
Have you tried contacting profs in the area of Occupational Therapy. Some may have funds or may even be willing to have you as a part time student where you can do most of your work from home.
Can you get your son into the university-associated daycare program? Sometimes that is cheaper. Go to student services and ask if they can offer any help with childcare (maybe bursaries).Quote:
Originally Posted by Boo Radley
I'll be waiting for him to start school so that it will be part-time daycare... The program is arranged so that classes are from 9am - 5pm for approx 2 years full time.
I found a bursary that they offer to MScOT students... but I'd rather save as much as possible now rather than worrying about coming up with the amount when the time comes.
It'll all come together. :)
9am - 5pm classes for 2 years is too much for a grad program imho. Isn't there a lighter grad program or maybe one that is more research oriented?
This is the one I want to do. I've seen first hand how much occupational therapy has helped with baby J and I'd love to be able to help others like the way his OT has helped us.
Afraid I used student loans, and I got a bursary from HDIC I think. Never applied for it so some government agency passed it when I applied for the student loan. It was for women who had stayed at home to raise their families. About $1400, seven years ago. It helped a bit.
What you need to remember is that your tuition, childcare, and books are all tax deductible and the monthly tax write off for fulltime students is around $400. If you were like me and didn't have an income while in school, you transfer the tax credits to your husband/so and use the tax refund to pay off your loan.
Remember interest on government student loans can also be deducted from your taxes.
Not much help but it's better than nothing