RESP - Registered
Education
Savings Plans

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Calculate!

Age of the child

The maximum age to open an RESP is 17

year(s)

Contribution amount

The amount you would like to invest monthly

$/month
You can maximize your grants without changing your budget. An RESP loan can help you.

Your postal code

To calculate how much you can receive in grants

Congratulations!

is the amount you will have saved by the time your child starts post-secondary education.

Your contributions
Government grants
Interest generated
By investing this amount monthly, you would exceed the lifetime maximum of $50,000 in contributions per child. In order to avoid tax consequences, please contact an advisor.

The child will only be eligible for grants at 16 or 17 years of age if one of the following two conditions is met before the end of the calendar year in which the child turns 15:

  • $100 in contributions for four years (consecutive or not)
  • $2,000 in contributions
Open an RESP online
Send the results to an advisor Download the results (PDF) Assumptions in calculation

How does the RESP work?

Contribute

You start saving early in your child’s registered education savings plan (RESP) and take advantage of generous government grants.

Accumulate

Your regular contributions and grants generate interest. Your registered education savings plan (RESP) grows tax free.

Benefit

Your contributions are returned to you to fund your child’s education. Your child receives the grants and the total interest from the registered education savings plan (RESP).

Learn more about how an RESP works

Our Education Savings Products

Happy students receive their diplomas

My Education +

More savings. More flexibility. More possibilities.

You contribute the amount you want when you want and have access to advantageous investment options to help you save more.

Types of plan available

Individual

  • Anyone can be a Plan Subscriber - no blood or adoptive relation to the child is required

Family

  • Possibility to name more than one child under the plan
  • Subscriber must be related to the child by blood or adoption

Investment options available

Based on your investor profile and financial goals, you can invest in a selection of advantageous investment options:

  • Segregated funds
  • High Interest Savings Account with 100% capital guarantee

You are interested in this product?

Open a My Education+ RESP online

Find an advisor

A smiling mother plays with her young daughter

Diploma

Education bonus

You receive an education bonus of up to 15% of your total contributions once your commitment has been fulfilled.

Types of plan available

Individual

  • Anyone can be a Plan Subscriber - no blood or adoptive relation to the child is required

Investment options available

The allocation of your investments relies on a combination of two Diploma funds:

  • Diploma Elementary Fund
  • Diploma Secondary Fund

The allocation is established according to the child’s age.

You are interested in this product?

Find an advisor

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Have you thought about the RESP loan to maximise your grants?

Discover how borrowing to further contribute to your child’s registered education savings plan (RESP) can be a simple and profitable solution.

Find out more about the RESP loan

Registered education savings plan (RESP) advice

See more registered education savings plan (RESP) advice