Registered Education Savings Plans (RESP's) help to make sending your kids to university more affordable!

If you invest $2,000 a year and receive the government grant of $400 for 18 years and earn an average return of 5%, your child will have over $65,000 to assist in paying for their education! At 6% there would be almost $75,000!

RESP's were not very popular prior to 1998. This changed in 1998, the Federal Government introduced a CESG (Canadian Education Savings Grant) equal to 20% on the first $2,000 in annual RESP contributions for children up to age 18.

There are some restrictions on qualifying for the grant for children age 16 and 17.
RESP's can invest in a variety of qualifying investments. There are no foreign content restrictions. Although contributions to the plan are not tax deductible, any income earned accumulates tax free until withdrawn.

Please contact us if you would like to have us assist you in taking advantage of this opportuntiy. There are no set up or administration fees with our RESP's.

If you really want to read about the specifics of how these work, click on the icon to read the Government Brochure.

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