REGISTERED EDUCATION SAVINGS PLAN (RESP)
A Registered Education Savings Plan or RESP is an investment vehicle used by parents to save for their children’s post secondary education in Canada. The principal advantages of RESP are the access to the Canada Education Savings Grant (CESG).
Following are the benefits of RESP
• 20% Govt. Grants On Contributions Maximum Up To $7,200
• $2,000 Canada Learning Bond (CLB)*
• No Enrolment Fees
• 15% Bonus On Contributions**
*based on family income, ** Based on child’s age