01
Individual RESP
A straightforward plan designed for one beneficiary. Anyone—parents, grandparents, or friends—can open this account.
WHAT IS AN RESP?
Registered Education Savings Plan (RESP) Canada:
Maximize CESG Government Grants
A Registered Education Savings Plan (RESP) is a powerful, government-approved tax-advantaged account designed specifically to help families save for a child’s post-secondary education.
The true magic of the RESP lies in the Canada Education Savings Grant (CESG). The federal government will match 20% of your annual contributions, accelerating your child's education fund far faster than a standard savings account.
Additionally, all investments held within the RESP grow completely tax-deferred. Taxes are only applied when the funds are withdrawn to pay for tuition, and they are taxed at the student's typically low income bracket.
REGISTERED EDUCATION SAVINGS PLAN
Your Education Strategy Made Simple
An RESP can be structured in several ways depending on your family size. Explore the different plan types and eligible investment options below:
02
Family RESP
Ideal for parents or grandparents with multiple children. Funds can be easily shared among siblings if one decides not to pursue higher education.
03
Group RESP
A pooled investment structure where contributions from many families are grouped together, usually managed by scholarship plan dealers.
04
Self-Directed RESP
Take full control of your child’s education fund by hand-picking specific investments like stocks and ETFs.
05
Mutual Funds
Diversify the education portfolio with professionally managed mutual funds tailored perfectly to your growth timeline and risk tolerance.
06
Guaranteed Investments (GICs)
Secure a portion of the education funds in zero-risk Guaranteed Investment Certificates as the child gets closer to university age.
07
ETFs & Stocks
Build an aggressive, long-term growth strategy by holding exchange-traded funds and individual stocks while the child is still young.
08
High-Interest Savings
Keep a portion of your RESP highly liquid and safe while still benefiting from the 20% government grants.
APPLICATION PROCESS
Simple Steps To Secure Their Future
We handle the complexity for you.
From selecting the right family plan to automatically applying for your maximum government grants (CESG/CLB), our experts ensure a seamless journey.
Start Saving NowStep 1
Free Consultation
Schedule a free meeting to discuss your child’s timeline, educational goals, and your family's budget.
Step 2
Personalized Strategy
We help you decide between an Individual or Family plan and select the best risk-adjusted investments.
Step 3
Account Setup & Grant Filing
Our team handles the paperwork, opens the RESP, and applies directly for the CESG and CLB on your behalf.
Step 4
Watch It Grow
Start contributing, watch the 20% government match roll in, and see the fund compound tax-deferred over the years.
RESP ADVANTAGESSecure Their Future With Free Grants
Secure Their Future With Free Grants
And Powerful Tax-Deferred Growth
An RESP isn't just a regular savings account—it's the only registered plan in Canada that guarantees a 20% match through federal CESG grants. Explore the core pillars of the plan.
20%
Government Matching (CESG)
The Canadian government boosts your savings by matching 20% of your contributions, providing guaranteed, risk-free money.
- 20% match on first $2,500 annually
- Up to $500 free money every year
- Lifetime grant maximum of $7,200
- Additional bonds for eligible families
Tax-Deferred
Deferred Investment Growth
Your money compounds significantly faster because you do not pay annual taxes on the capital gains, interest, or dividends.
- 100% tax-free compounding growth
- Hold stocks, bonds, GICs, and ETFs
- Taxes are delayed until withdrawal
- Accelerates long-term wealth building
EAP
Tax-Efficient Withdrawals
When funds are withdrawn for school, they are taxed in the student's name, who typically pays little to no income tax.
- Educational Assistance Payments (EAPs)
- Original contributions withdrawn tax-free
- Taxed at the student's lower marginal rate
- Covers tuition, books, and living costs
*CESG grant eligibility and Additional CESG/CLB amounts depend on beneficiary age, Canadian residency, and adjusted family net income. Coordinate your RESP alongside your TFSA, RRSP, and FHSA (or read our 2026 TFSA vs. RRSP Newcomer Guide).
GOVERNMENT MATCHED SAVINGSEmpower Their
Empower Their
Educational Journey,
Debt-Free.
Secure your child’s future with a Registered Education Savings Plan (RESP). Maximize tax-deferred growth and claim up to $7,200 in free government grants.
CONTRIBUTION & GRANTSSmart Savings Rules
Smart Savings Rules
And Free Government Money
An RESP is unique because the government literally pays you to save. Understanding the limits and grant structures ensures you leave no free money on the table.
Lifetime Contribution Limit:
Unlike an RRSP, there is no annual contribution limit, but there is a strict lifetime maximum of $50,000 per child (beneficiary).
Canada Education Savings Grant (CESG):
The government matches 20% on the first $2,500 contributed annually, giving you up to $500 a year in free money (lifetime max $7,200).
Canada Learning Bond (CLB):
Eligible low-to-moderate-income families can receive up to $2,000 from the government without needing to make any personal contributions.
Over-Contribution Penalties:
If you exceed the $50,000 lifetime limit per beneficiary, the CRA will apply a 1% per month penalty tax on the excess amount.
EDUCATION WITHDRAWALSUnderstanding RESP
Understanding RESP
Withdrawal Mechanics
When it's time for university, college, or trade school, accessing the funds is designed to be highly tax-efficient for your family.
Educational Assistance Payments (EAPs):
When withdrawn for post-secondary education, the grants and investment growth are taxed in the student's name, usually resulting in little to no tax.
Capital Withdrawals (PSE):
Your original contributions can be withdrawn completely tax-free at any time to help pay for the beneficiary’s education expenses.
What If They Don't Go To School?:
You have options: keep the plan open for up to 36 years, transfer it to a sibling, roll up to $50k into your RRSP, or withdraw it (though grants must be returned).
GET ASSISTANCE
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RESP FAQSCommon RESP Questions
Common RESP Questions
And Clear Answers
Through the Canada Education Savings Grant (CESG), the Canadian federal government matches 20% of your contributions on the first $2,500 deposited each calendar year. This provides up to $500 in free government grants annually per child, up to a lifetime maximum of $7,200. Lower-income families may also qualify for an Additional CESG match and up to $2,000 via the Canada Learning Bond (CLB). Matching funds are deposited directly into your RESP account, usually by the end of the month following your contribution.
Need help claiming your child's grants?
Let our experts set up your RESP and handle the paperwork today.
Knowledge Hub
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