RESP: Giving Our Kids the Freedom We Never Had
By: Felix Diaz, P.Eng.
Growing up in the Philippines, I learned very early what limitations look like. Not the kind of limits you set for yourself — but the kind that come from simply not having money. When you’re a kid in a developing country, your dreams are often bigger than what your family can afford. And sometimes, that gap becomes the difference between what you want to be and what you can be.
My Childhood Curiosity — and My First Dream
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.
TUP: The School That Gave Me a Fighting Chance
Like many Filipino kids with big dreams but limited options, I took the path that was possible. I enrolled in TUP, a state university, and finished a 3‑year Electronics Technician diploma. What felt like a compromise became a blessing in disguise — it allowed me to work right away, gain real hands-on experience, and understand systems from the ground up.
Later on, I worked full-time during the day and pursued my Electronics Engineering degree in the evenings. It was tough, but it was the only route available, and it shaped everything that came after.
That foundation opened doors I never imagined. Today, I’m a Licensed Professional Automation Engineer, and I’ve earned my Red Seal Journeyman Electrician and Instrumentation & Control Technician certifications here in Canada.
But not everyone gets the chance to “figure it out the hard way.” And our kids shouldn’t have to.
Technological University of the Philippines Campus
Why I’m Writing This — And Why RESP Matters
Many of us grew up hearing the words, “Kahit magdildil tayo ng asin, magtatapos kayo ng pag-aaral.” It was a promise our parents made out of love—a commitment to do whatever it took to give us an education, even if it meant enduring hardship and sacrifice. For many immigrant families, education was never just about getting a diploma; it was seen as the pathway to a better life, the key to opportunities that previous generations never had.
I remember that mindset well. Like many of us, I grew up understanding that achieving an education often came with limitations. Families worked tirelessly, made difficult sacrifices, and stretched every peso just to ensure their children could stay in school. The journey was rarely easy, but it was driven by hope and determination.
Today, however, our circumstances are different. We came to Canada in search of greater opportunities, and one of the advantages available to us is the Registered Education Savings Plan (RESP). Unlike the struggles many of us experienced growing up, RESP allows us to prepare for our children’s future in a way that eases the financial burden of higher education.
RESP is much more than a savings account. It is a government-supported education plan designed to help families build a strong financial foundation for their children’s future. One of its greatest benefits is the Canada Education Savings Grant (CESG), where the government contributes 20% on eligible contributions. A family that contributes $2,500 annually can receive an additional $500 each year, with grants accumulating up to a lifetime maximum of $7,200 per child. It is one of the few opportunities where disciplined saving is directly rewarded with government support.
Another advantage is tax-sheltered growth. Investments inside an RESP grow without being taxed, allowing earnings to compound more efficiently over time. As the account grows over the years, families benefit from the power of long-term investing, and when funds are eventually withdrawn for education, the tax impact is often minimal because students typically have lower incomes.
What makes RESP especially valuable is its flexibility. Many people assume it is only for university, but it can also be used for college programs, trade schools, apprenticeships, technical training, part-time studies, and even certain accredited institutions abroad. In other words, it supports whatever educational path best suits a child’s talents, interests, and goals.
The good news is that getting started does not require a large amount of money. Even contributions of $25 to $50 per month can grow significantly over 15 to 18 years. The most important factor is not how much you start with, but how early you begin. Time allows both investment growth and government grants to work together in building an education fund.
More importantly, RESP helps protect our children from many of the financial challenges that students often face. It can prevent them from having to choose a school solely because it is affordable, postpone their education due to financial constraints, work excessive hours just to cover tuition, or abandon their dreams because the cost seems out of reach. Instead, it provides them with options, freedom, and confidence to pursue the future they envision for themselves.
As an engineer, I know firsthand the sacrifices that education can demand. The road to achieving my goals required long hours, perseverance, and countless personal sacrifices. While those experiences shaped who I am today, I also believe that our children should not have to face the same obstacles if we have the ability to prepare for them now.
We came to Canada because we believed in opportunity. RESP is one of the practical tools that can help transform that opportunity into reality. It allows us to give our children something invaluable—not just financial support, but the freedom to pursue their ambitions without being held back by the limitations we once faced.
A Reflection — and an Invitation
When I reflect on the words, “Kahit magdildil tayo ng asin, magtatapos kayo ng pag-aaral,” I hear the love, sacrifice, and hope behind them. Those values remain as important as ever.
The difference is that here in Canada, we have resources that can help us achieve the same goal without enduring the same hardship.
Our children’s future should be shaped by their dreams, talents, and aspirations—not by financial barriers. With thoughtful planning and tools like RESP, we can help ensure they have the freedom to choose their own path and the confidence to pursue it without limits.
If you're a parent who wants to better understand how RESP works and how to maximize the government grants available for your child, I'd be happy to help. Every family's situation is unique, and having the right education savings strategy can make a significant difference in your child's future opportunities.
To learn more about how we can help you create an education plan tailored to your family's goals, please complete the form below. Let's start building a future where your child's dreams are supported by preparation, not limited by finances.
Because the best gift we can give our children isn't just an education—it's the freedom to pursue it without compromise.