Start saving when they’re young with a Registered Education Savings Plan (RESP) and have enough to pay for college or university.

How education investments can work for you.

Cover all your bases

Take advantage of government grants while saving for your kid's education—whether they end up going to university, college, an apprenticeship program or trade school.

Pick your products

Choose from a range of mutual funds, investment savings and registered GICs. Profitable over the long term, perfect for education savings.

Get more free money

Experts at ATB Wealth™ can help you build a customized portfolio of RESP investments while setting your child up for potential government grant money.

Find the education investments that work for you.

Frequently Asked Questions

When saving for your child's education through an RESP, the Government of Canada will help with special saving incentives including the Canada education savings grant (CESG) and the Canada learning bond (CLB).

Current rules allow you to contribute a lifetime maximum of $50,000 per child. There's no annual contribution limit.

No you don't—the choice is yours. You can choose from individual plans (one beneficiary/child) or family plans (multiple beneficiaries/children).

All money in the plan grows tax free until it’s withdrawn for your child to use for post-secondary school. Government contributions along with interest income on both personal and government contributions are taxable as income upon withdrawal. Personal contributions were taxed prior to making the contribution, and so are exempt from further taxation when withdrawn. The bottom line: because most students fall within a lower income bracket with little to no income, the income tax students typical pay on money withdrawn from their RESP is low.

We get it—plans change. Your options include:

  • Designating an alternate beneficiary
  • Transferring the income earned (up to a maximum of $50,000) into an RRSP, provided there is unused contribution room in the RRSP
  • Withdrawing the funds
  • Donating the income earned to a post-secondary institution

Yes, anyone can contribute—not just the parents of the child.

Need help?

Our Client Care team will be happy to assist.