Registered Education Savings Plan (RESP)
Registered Education Savings Plan (RESP)Safeguard Your Income
A Registered Education Savings Plan (RESP) is a powerful savings tool for parents and even grandparents to secure a child’s post-secondary education in Canada. The RESP allows parents, known as subscribers, to contribute towards their child’s (the beneficiary’s) future education, leveraging grants and tax advantages provided by the government.
How RESP can Benefit
Investing in an RESP provides financial security for your child’s higher education while benefiting from government grants and tax-free investment growth.
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Benefit from the Canada Education Savings Grant (CESG) and other government incentives.
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Covers tuition, books, and living expenses for university, college, or trade school.
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Reduce the financial burden of higher education and set them up for success.
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Unused funds can be transferred to a sibling or a retirement savings plan in certain cases