Taking a Gap Year During Your Education? Here’s How to Make the Best Financial Plan

Whether it’s to travel the world or just take a breather before moving on to the next chapter, students sometimes pause their educational pursuits for a so-called gap year. Lately, gap years are more focused on using the time to save for post-secondary tuition, said Michelle Dittmer, president and co-founder of the Canadian Gap Year Association, a non-profit organization that provides resources for students taking or considering a gap year. “There’s a lot of problem-solving when it comes to the dollars and cents of gap years,” Dittmer said. “[Young people] have these big, huge goals. They want to do all these things,” she said, “but they don’t have the capital to make it happen.”...