Registered Education Savings Planning (RESP)


The total average cost of a post-secondary education in 2018, according to McLean’s


Where is the money comes from

  • You can contribute to a maximum of $50,000 in total

  • You can get  CESG of $500 to $600 for every $2500 contribution per year

  • You can get maximum $1100 of CESG every year, that means 1 year catch up

  • $7200 is lifetime maximum CESG you can receive

  • The money is invested in mutual funds and while you do not loose the money invested, the returns are not guaranteed

  • You can use the money only for education purposes or you will need to return them back

  • The contributions and earnings are tax deferred but will be taxed at the child MTR

  • Other conditions might apply depending on the plan type and others

Analyzing Graphs