Registered Education Savings Plan (RESP)

There’s no getting around it. Paying for a child's education is expensive. But saving for it with a Registered Education Savings Plan (RESP) can help make the task easier.

An RESP is a tax-deferred investment plan that can help you and your family save for your child’s post-secondary education after high school. Any earnings in an RESP are tax-deferred until withdrawn, and are often taxed in the student's hands which is at a much lower tax rate. The best part about an RESP is the government assistance provided in the form of grants and other incentives to beneficiaries under age 18. It's better to start early, so take a look below at what's available and get started today!

Benefits of an RESP

  • Is registered by the Government of Canada
  • Allows savings for education after high school to grow tax-free
  • If you save for a child age 17 and under, the Government of Canada will also put money into the RESP as part of the Canada Education Savings Grant. Getting a grant is like getting free money towards education. The grants stop at the end of the year when the child turns 17.
  • Your RESP may grow even more with the possible addition of government money through the Canada Learning Bond.

Learn more

Contact Us  to find out more about RESPs and other savings options.

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