According to a survey conducted by Embark Student Corp, 73% of millennial parents in Canada have established registered education savings plans (RESPs) for their children, with 36% reporting savings of over $5,000. Despite these efforts, many parents feel financially unprepared for the costs associated with post-secondary education. The survey revealed that 27% of respondents believe they will be unable to afford their child's education, while 26% anticipate financial strain. Only 33% expressed full confidence in covering educational expenses. The survey also highlighted that 54% of expecting parents feel somewhat prepared for the costs of having a child, with those in Ontario feeling the least prepared at 67%. Additionally, 36% of new parents reported receiving financial support from family, with varying degrees of assistance. Andrew Lo, CEO of Embark, emphasized the importance of pre-planning and automatic savings to help parents manage educational costs effectively.