Get a 20% government match

Add to your RESP annually and the government will too — receive up to $500 per year, and up to $7,200 in total per child.

Access grants and incentives

Get even more government contributions towards their schooling through additional eligible grants.

Grow your investments tax-free

Any earnings on your investments are tax-exempt until the time comes to withdraw funds (then they’ll be taxed at your kid’s tax rate, not yours).

$50,000

The total lifetime contribution limit for an RESP. However, there’s no annual limit, so you can save at your own pace until you hit that max.

20%

The government contribution match you can receive ($500 per year), for a potential grant total of $7,200.

Unlimited

The amount of people who can contribute towards your child’s education. If you have family and friends eager to support them, they can open an RESP in your child’s name too.

36 years

The length of time you can keep an RESP account open for — so if your child has dreams of travelling first, or taking time away from the books, there’s no rush to withdraw the funds.