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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

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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