Even parents with little or no income can get money from the government to start a post-secondary education savings plan for their child.

Here important things you should know about starting a Registered Education Savings Plan (RESP).

The earlier the saving, the more affordable an education.

Even a few pennies a day can help create a promising future for your child through the CESG — Canada Education Savings Grant.

The federal government has money available for all families. The earlier you start putting money into an RESP, the faster that money will grow.

Even families with modest incomes can start an RESP.

Anyone in Canada can open an RESP for a child regardless of their income. The government could give you between two and four dollars for every $10 you save in the form of a Canada Education Savings Grant.

Your child could also receive the $500 Canada Learning Bond.

If you receive the National Child Benefit Supplement and your child was born after Dec. 31, 2003, the $500 Canada Learning Bond will be deposited into your child’s RESP.

The government will give an additional $100 each year — up to age 15 — as long as your family continues to receive the supplement.

How to choose your RESP.

Be sure to ask your bank or financial institution if they offer the Canada Learning Bond and the Canada Education Savings Grant. They can inform you on how to set up an RESP and about any service charge fees and conditions.

Shop around and compare the costs and types of RESPs to find the plan that best suits your needs.

You can get more information about RESPs and a list of questions to ask your bank or financial organization at CanLearn.ca.