08/05/2026
Getting Ready: RESPs and Your Child’s Educational Journey
As the new school year approaches, parents everywhere are preparing for that exciting back-to-school season, new clothes, fresh supplies, and fresh beginnings. But one of the most important ways to prepare your child for success is through a Registered Education Savings Plan (RESP). An RESP is a government-registered savings account designed to help families invest in their child’s post-secondary education, setting them up for the future ahead.
Government Support and Grants
Just as you want to give your child every advantage this school year, RESPs offer built-in support. The Canada Education Savings Grant (CESG) matches 20% of contributions, up to $2,500 per year, essentially free money to fuel your child’s educational journey. Families with lower incomes may also qualify for additional grants.
Tax-Sheltered Growth
Investments within an RESP grow tax-free, allowing your savings to compound over time as your child progresses through school. When they enroll in an eligible post-secondary program, Educational Assistance Payments (EAPs) distribute both investment income and grants. Since students typically have lower incomes, they pay less tax on these distributions.
Flexibility and Key Rules
RESPs support various educational paths, university, college, trades programs, and vocational programs. If plans change, funds can be transferred to another eligible family member, ensuring your investment remains flexible as your child grows.
Why Start Early
Starting early is like giving your child a head start on the school year. A child born today could receive over $7,200 in government grants with consistent contributions, free money that helps prepare them for success.
Getting Started This Season
As you prepare for back-to-school, consider an RESP. By taking action now, you’re investing in your child’s brightest future and helping set them up for success every step of the way..
Education Savings Grant
