​​Registered Education Savings Plan (RESP)

Smart savings for a bright future

Help a child plan for their future.

Registered Education Savings Plans (RESPs) are tax-sheltered savings plans registered by the Canadian government. They are a great way to invest in a child’s post-secondary education.

The cost of education seems to always be going up and opening an RESP is a good way to set aside money for the future even if you don’t have the extra cash to invest. 

Why start an RESP?
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Why start an RESP?

​Get FREE money

The federal government adds to your RESP savings each year through the Canada Education Savings Grant.

Every year, 20% of every $2,500 is matched, up to a lifetime maximum of $7,200 per child.

​Maximize your investment

Contributions grow tax-free while they remain in the RESP.  That means your savings can grow faster. 

​Pay less tax

When your child starts college or university, funds withdrawn from the RESP are taxed in the child’s name. 

Students usually have little or no income, so they won’t pay much tax on the payments.

​Access additional grants

Lower income families may also qualify for the Canada Learning Bond.

​No downside

If your child does not pursue post-secondary education, you have options. 

RESP Calculator

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​Financial Planning 

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Grow your savings tax-free with a Tax-Free Savings Account.  

​Line of Credit 

Borrow what you need, pay the interest monthly and the balance when you’re ready.