Year after year, tuition climbs higher. With an RESP, families start setting money aside sooner, gaining extra support through state-funded incentives.
Year after year, tuition climbs higher. With an RESP, families start setting money aside sooner, gaining extra support through state-funded incentives.
A Registered Education Savings Plan (RESP) is a savings account designed to help families set aside money for a child’s education after high school. Contributions grow tax-deferred within the plan, allowing investments to build over time until the funds are needed for educational expenses.
In addition to tax advantages, the government may contribute grants that help boost the overall savings. When the student begins post-secondary education, the funds can be withdrawn to help cover tuition, books, and other education-related costs.
