Registered Education Savings Plan

Give your kids the best head start

A Registered Education Savings Plan (RESP) provides tax-free growth on both your deposits  and eligible  government contributions available for your child’s education. The younger they are when you start to contribute, the more prepared they’ll be. 

Available grant and bonds

Canada Education Savings Grant (CESG)

This federal grant is added to an RESP and helps to pay the costs of a child’s full- or part-time studies in apprenticeship programs, CEGEPs (general or vocational college in Quebec), trade schools, colleges and universities. The CESG provides a 20% grant on RESP contributions up to a maximum of $2,500 each year (maximum $500 annual grant). 

Canada Learning Bond (CLB)

The CLB is a federally-funded education savings grant that offers an initialcontribution of up to $500 to modest-income families when an RESP is opened. Additional grant money (up to $100 each year) is available as long as the child continues to be eligible.

British Columbia Training and Education Savings Grant

This one-time, $1,200 provincial incentive is available to children when they turn 6 years old. You don’t need to contribute to an RESP to receive it, but you do need to open an RESP and apply for this grant before the child turns nine. 

See what’s new on the Canada Revenue Agency website.

Give us a call if you’re headed to school and ready to start using your RESP. 

*Terms and conditions of government programs are subject to change at any time by the federal or applicable provincial government.