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      Saving for College / University

      What is an RESP?

      A Registered Education Savings Plan (RESP) is an education investment plan that allows you to accumulate money in an investment portfolio for a child’s post-secondary education. You can place your RESP investment in mutual funds, GICs, and more.

      An RESP offers flexibility. Your education savings can be used towards tuition, textbooks, and living expenses at a qualified post-secondary institution, in programs such as trade school, an apprenticeship, college, or university. There’s also consideration given when the beneficiary chooses not to continue their education after high school.

      Schedule a meeting with a member of our Wealth and Investment Team to answer any questions you might have and get started saving for the future.

      You can invest in mutual funds, GICs, and more within your RESP.

      Education Savings Calculator

      These calculators are not intended to provide investing or lending advice. We cannot and do not guarantee their applicability or accuracy. All examples are hypothetical and are for illustrative purposes only. Please visit your local branch and speak with a member of our Investment or Lending teams for personalized advice.

      You can access government grants when you have an RESP.

      Contributing to an RESP is an excellent way to save for post-secondary education and allows you to access government funding such as Canada Education Savings Grant or the Canada Learning Bond.

      There are contribution limits and government regulations for RESPs.

      Parents and grandparents want the best for their children’s future; however, this takes long-term planning and preparation. It’s important to learn about the government’s regulations and contribution limits that apply to this type of savings plan. Learn more about these on the Canada Revenue Agency Website.

      Pre-authorized contributions to your RESP make it so much easier to save. Contribute every month, and watch your savings add up!

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      Mutual funds and related financial planning services are offered through Qtrade Asset Management (a tradename of Credential Asset Management Inc). Mutual funds, other securities and securities related financial planning services are offered through Qtrade Advisor, a division of Credential Qtrade Securities Inc. Online brokerage services are offered through Qtrade Direct Investing, a division of Credential Qtrade Securities Inc. Qtrade and Qtrade Direct Investing are trade names and trademarks of Aviso Wealth Inc. and its subsidiaries. Financial planning services are available only from advisors who hold financial planning accreditation from applicable regulatory authorities. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments and the use of an asset allocation service. Please read the prospectus of the mutual funds in which investment may be made under the asset allocation service before investing. Unless otherwise stated, cash balances, mutual funds and other securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions. Mutual funds and other securities are not guaranteed, their values change frequently and past performance may not be repeated.

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