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Registered Education Savings Plans (RESP)

The cost of higher education is going to get, yes, higher. Human Resources and Skills Development Canada estimates that a child born today will need more than $100,000 for a 4-year program. Like all parents, you want your child to have a successful future; one that's filled with exciting opportunities and promising possibilities. An RESP can help you achieve that.

When you invest in an RESP, you're not only taking advantage of tax-deferred savings, flexible investment vehicles and easy contribution plans, you're also investing in your child's future. And the earlier you start, the more you take advantage of accumulated growth.

CLAIM YOUR GOVERNMENT GRANTS TODAY

Education is a priority, not an option.

Government Grants

Canada Education Savings Grant (CESG): The government adds 20% on the first $2,500 contributed per year (up to $500/year, lifetime max $7,200 per child).

Additional CESG and Canada Learning Bond (CLB) may be available for lower-income families.

Individual provinces may have additional grants.

Tax Advantages at Withdrawal

When the student withdraws funds for education, the grants and income are taxed in their name, usually at a low tax rate since most students have little to no income.