00000nam 2200000zi 4500 9.888536 CaOODSP 20221107172023 m o d f cr cn||||||||| 200624t20202020onca obs f000 0 eng d 9780660353333 CaOODSP eng rda CaOODSP n-cn--- y1y1 CS11-0019/449E-PDF Bonikowska, Aneta, author. Why are lower-income parents less likely to open an RESP account? : the roles of literacy, education and wealth / by Aneta Bonikowska and Marc Frenette. [Ottawa] : Statistics Canada = Statistique Canada, 2020. ©2020 1 online resource (36 pages) : colour illustrations. text txt rdacontent computer c rdamedia online resource cr rdacarrier Analytical Studies Branch research paper series, 1205-9153 ; no. 449 Issued also in French under title: Pourquoi les parents à faible revenu sont-ils moins susceptibles d'ouvrir un compte de REEE? Les rôles de la littératie, de l'éducation et du patrimoine financier. "11F0019M No. 449." "2020012." "July 2020." Issued also in HTML format. Includes bibliographical references (pages 35-36). "The Government of Canada offers various financial incentives for parents to save for their children's postsecondary education by contributing to a Registered Education Savings Plan (RESP). However, RESP participation rates tend to rise substantially with family income, and previous research has demonstrated that family wealth was the single most important reason for this trend (among factors that could be examined). This study explores whether differences in parental literacy, numeracy and financial literacy can further account for some of the gap in RESP participation by level of family income. The results suggest that differences in wealth (which may also reflect differences in unobserved characteristics correlated with wealth) remain the single most important factor behind the gap in RESP participation by family income, even after accounting for differences in parental levels of education and literacy, numeracy and financial literacy. In fact, differences in wealth accounted for 50% to 79% of the total gap in RESP participation between families in the top and bottom income quartiles, depending on the method and dataset used. Differences in financial literacy accounted for a moderate share of the RESP participation gap (between 13% and 19%), while differences in literacy and numeracy played smaller, statistically insignificant roles"--Abstract, page 5. Low income parents Canada Finance, Personal Statistics. Financial literacy Canada Statistics. Income Canada Statistics. Education savings accounts Canada Statistics. Statistics Canada. Analytical Studies Branch, issuing body. Pourquoi les parents à faible revenu sont-ils moins susceptibles d'ouvrir un compte de REEE? : (CaOODSP)9.888537 Research paper series (Statistics Canada. Analytical Studies Branch) no. 449. (CaOODSP)9.504421 PDF 278 KB https://publications.gc.ca/collections/collection_2020/statcan/11f0019m/11f0019m2020012-eng.pdf HTML N/A https://www150.statcan.gc.ca/n1/pub/11f0019m/11f0019m2020012-eng.htm 11F0019M