What are RESPs?
RESPs are to education what RRSPs are for retirement. They let you put money aside for your child’s post-secondary education. In this way, you give your child the greatest gift: an opportunity to achieve a dream career.
How do RESPs work?
You begin to save early by contributing to your child’s Registered Education Savings Plan (RESP) and benefiting from generous government grants.
Together, your regular contributions and government grants generate returns. Your Registered Education Savings Plan (RESP) grows tax-free.
You get your contributions back to fund your child’s education. Your child receives the grants and the total return from the Registered Education Savings Plan (RESP).