🎓 RESP

RESP — Get Free Government Grants for Your Child's Education

The Registered Education Savings Plan helps you save for your child's post-secondary education — with powerful tax-sheltered growth and up to $10,400+ in free Canadian government grants — including CESG, the Canada Learning Bond, and provincial top-ups.

Open My RESP →📞 647-986-8049

RESP Canada Education Savings — Graduation

What Is an RESP?

Canada's #1 Tool for Education Savings

A Registered Education Savings Plan (RESP) is a tax-advantaged savings account designed specifically to help parents save for their children's post-secondary education. Investments inside the RESP grow completely tax-free until withdrawal.

The real power of the RESP comes from the government grants. The Canada Education Savings Grant (CESG) adds 20% on the first $2,500 contributed each year — that's a maximum of $500/year and $7,200 per child over the lifetime of the plan. On top of that, eligible families can receive the Canada Learning Bond (CLB) up to $2,000 plus provincial top-ups — bringing the total free government money to $10,400+ per child.

Up to $10,400+ in free government grants (CESG + CLB + provincial)
Additional Canada Learning Bond for low-income families (up to $2,000)
Tax-sheltered growth until withdrawal
Withdrawals taxed in student's hands (usually 0%)
Lifetime contribution limit of $50,000 per child
Can be opened from birth to age 17

Open an RESP Today →

Key Benefits

Why Every Canadian Parent Needs an RESP

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Free Government Money

The Canada Education Savings Grant adds 20% on contributions up to $2,500/year — $500 per year, $7,200 lifetime CESG per child. Combined with the Canada Learning Bond and provincial grants, eligible families can receive $10,400+ in free government money. Don't leave it on the table.

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Tax-Free Growth

All investment returns inside the RESP compound tax-free. Over 18 years, this significantly accelerates your education savings compared to a non-registered account.

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Low-Tax Withdrawals

When withdrawn for education, the grants and earnings are taxed in the student's hands — who usually has little or no income, meaning withdrawals are effectively tax-free.

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Family Plans Available

A family RESP covers multiple children under the same plan. Unused funds can be shared between siblings, providing maximum flexibility for your family.

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Covers Any Post-Secondary

RESP funds can be used for university, college, trade schools, and even qualifying programs abroad — giving your child maximum flexibility for their education path.

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If Your Child Doesn't Go

Contributions can be withdrawn tax-free. Grants are returned, but earnings can be transferred to your RRSP (up to $50,000) or taken as income with a 20% penalty tax.

Frequently Asked Questions

RESP Questions Answered

As early as possible — ideally at birth. The sooner you start, the more government grant years you accumulate and the more time your investments have to compound tax-free. Every year you wait is a potential $500 government grant lost.

Yes! Permanent residents and Canadian citizens can open an RESP as soon as they have a valid SIN (Social Insurance Number) for their child. The government grants are available to all eligible residents.

Your original contributions come back to you tax-free. Government grants (CESG) are returned to the government. Investment earnings can be transferred to your RRSP (if you have room) or taken out with a 20% additional tax.

Yes, the lifetime contribution limit is $50,000 per child with no annual limit, but the government CESG grant is only paid on the first $2,500 per year. Contributing more is fine but won't earn more grants.

Yes — if you missed contributing in earlier years, you can catch up and receive up to $1,000/year in CESG (for two years' worth of catch-up) until the year the child turns 17. I'll help you maximize the catch-up strategy.