A Registered Education Savings Plan (RESP) helps your child’s education savings grow tax-deferred while in the plan, and provides a way for eligible government grant contributions to help grow your savings faster.
6 Reasons to open an Registered Education Savings Plan RESP
- You receive grants from the Government
- These savings grow tax-free
- Educational Assistance Payments (EAPs) are taxable in the hands of the student
- A variety of investment options
- Family and friends can contribute
- These accounts can remain open for 36 years
Ask me about opening and making contributions to this account in the future!
