Book a Free Consultation

RESP

Invest in Your Child’s Education

How It Works:

  • Annual contributions eligible for Canada Education Savings Grant (CESG): 20% of contributions up to $500/year
  • Investments grow tax-free until withdrawn for education purposes

Tips / Things to Watch For:

Start early to maximize grants and growth

Monitor contribution limits to avoid penalties

FAQs:

Who can open an RESP?

 Parent, guardian, or grandparent.

Can funds be used for private school?

No, only for qualifying post-secondary education programs

Who It's For:

  • Parents, grandparents, or guardians of children

Benefits:

  • Government grants boost savings
  • Tax-deferred growth until withdrawals
  • Encourages disciplined education savings