RESP: Giving Our Kids the Freedom We Never Had
By: Felix Diaz, P.Eng.
Dreams Shouldn't Have a Price Tag
Growing up in the Philippines, I learned early that some dreams don't end because of a lack of talent—they end because of a lack of money.
As children, we dream without limits. We imagine becoming engineers, doctors, pilots, teachers, or entrepreneurs. But for many families, reality eventually catches up. Tuition costs, daily expenses, and financial responsibilities quietly decide which dreams survive and which are set aside.
I was fortunate. My dream survived.
But not because the path was easy.
A Curious Kid Who Loved Building Things
I’ve always been fascinated with how things work.
I was that kid who took apart broken toys, salvaged motors, bulbs, magnets — anything I could turn into a small invention.
Battery‑propelled boats. DIY flashlights. Little circuits that lit up when you flipped a switch. Electricity felt like magic.
By high school, I already knew I wanted to be an engineer. And in my mind, there was only one school: Mapúa Institute of Technology, the “MIT of the Philippines.”
But dreams are free.
Tuition is not.
Even as a teenager, I knew my parents couldn’t afford Mapúa.
They never said “no,” but I could see it in their faces. And even if I started, I knew the long-term reality: I might not finish.
Money — not ability, not passion — was the barrier.
The Path I Didn't Plan
Instead of Mapúa, I enrolled at the Technological University of the Philippines (TUP), where I completed a three-year Electronics Technician diploma.
At the time, it felt like settling.
Looking back, it became one of the greatest blessings of my life.
It allowed me to enter the workforce early, develop practical skills, and learn industrial systems from the ground up. Later, I worked full-time during the day while earning my Electronics Engineering degree at night.
It wasn't the route I imagined.
It was simply the route I could afford.
That journey eventually led me to Canada, where I became a Professional Engineer (P.Eng.), a Red Seal Journeyman Electrician, and a Red Seal Instrumentation & Control Technician.
Looking back, what once felt like a compromise became one of my greatest strengths. Had I gone straight into engineering, I might never have developed the hands-on experience that shaped my career. My path allowed me to become both an engineer who understands the theory and a tradesperson who has lived the practical realities of the work.
Today, I'm proud to be a dual Red Seal journeyman and a Professional Engineer—someone who can design systems, troubleshoot them, and, when necessary, roll up my sleeves and work alongside the people who build and maintain them. My blue-collar beginnings didn't hold me back; they gave me a perspective and skill set that I wouldn't trade for anything.
Still, while I'm grateful for every challenge, I also recognize that not everyone gets the chance to overcome financial barriers.
Our children shouldn't have to rely on luck and perseverance alone.
Technological University of the Philippines Campus
Every Immigrant Parent Understands This
Many of us grew up hearing:
"Kahit magdildil tayo ng asin, magtatapos kayo ng pag-aaral."
It wasn't just a saying.
It was a promise.
A promise our parents made because they believed education was the one thing that could change our lives.
They sacrificed.
Worked overtime.
Skipped things they wanted.
Delayed their own dreams so we could chase ours.
Today, many of us have become those parents.
The difference is that we're raising our families in Canada.
And Canada gives us opportunities our parents never had.
One of the best is the Registered Education Savings Plan (RESP).
RESP Is More Than a Savings Account
Many people think an RESP is simply a place to save money for school.
It's much more than that.
It's one of the few programs where the Canadian government helps you save for your child's education.
For every eligible dollar you contribute, the government adds 20% through the Canada Education Savings Grant (CESG).
Contribute $2,500 per year, and you'll receive an additional $500 from the government.
Over time, those grants can reach a lifetime maximum of $7,200 per child.
That's money simply for preparing ahead.
Time Is the Secret
People often think they need thousands of dollars to start an RESP.
They don't.
Even contributing $25 to $50 a month can make a meaningful difference over 15 to 18 years.
Why?
Because three powerful forces begin working together:
Your own contributions
Government grants
Tax-sheltered investment growth
Time allows all three to compound.
And compounding is one of the most powerful financial tools available.
RESP Isn't Just for University
Another common misconception is that RESP only pays for university.
In reality, eligible programs include:
Universities
Colleges
Trade schools
Apprenticeships
Technical institutes
Many accredited schools outside Canada
Every child is different.
RESP doesn't fund one dream.
It helps fund their dream.
What RESP Really Buys
People often ask how much RESP can grow.
I think there's a better question.
What does RESP actually buy?
It buys options.
It buys confidence.
It buys freedom.
Freedom to choose a school because it's the right fit—not simply the cheapest one.
Freedom to focus on learning instead of worrying about paying tuition.
Freedom to graduate with less debt.
Freedom to pursue opportunities instead of postponing them.
That's something money alone can't measure.
Why This Matters to Me
When I look back, I don't regret my journey.
Every obstacle taught me something.
Every sacrifice helped shape who I became.
But if I have the ability to remove some of those obstacles for my children, why wouldn't I?
That's what planning is really about.
Not giving our children an easier life.
Giving them more choices.
Final Thoughts
We came to Canada because we believed in opportunity.
RESP is one of the simplest ways to turn that opportunity into action.
It isn't about trying to predict whether your child will become an engineer, a nurse, an electrician, a teacher, or an entrepreneur.
It's about making sure that when they discover who they want to become, finances don't become the reason they can't.
Because the greatest gift we can give our children isn't simply an education.
It's the freedom to pursue one.
Want to Learn More?
Every family's situation is different, and the best RESP strategy depends on your goals, your budget, and your child's future plans.
If you'd like to understand how RESP works, how to maximize available government grants, or how to build an education savings plan that fits your family, I'd be happy to help.
Let's build a future where your children's dreams are limited only by their imagination—not by financial barriers.