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RESPs are available to any child who is a Canadian resident with a Social Insurance Number.
No, they’re not. However, money paid out of an RESP is paid, and taxed, to the student. Because most students make low to no income, they can usually withdraw RESP funds tax-free.
The lifetime contribution limit is $50,000 per child. The Canada Education Savings Grant (CESG) will only match a lifetime maximum of $7,200 per child.
You can also view our consolidated RESP brochure (pdf).
Rates subject to change without notice.
Calculators on the site are made available to you as tools for independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy. All examples are hypothetical and are for illustrative purposes only. Please contact us directly to seek personalized advice from qualified professionals for all personal finance issues.