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How it works
Here’s what to expect – from initial contributions through to the
unique payout benefits only a group savings plan offers!
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You put money in
Our Group Savings Plan pools your money with savings from other families so everyone benefits. We have contribution schedules to fit every budget and savings goal!
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The government contributes
Once your plan is registered as an RESP, it’s eligible for government grants that start earning income right away.
All RESPs are eligible for The Canada Education Savings Grant (CESG).
Your plan may also be eligible for:
• The Canada Learning Bond (CLB)
• The Québec Education Savings Incentive (QESI)
• The Alberta Centennial Education Savings Plan (ACES)
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We invest the money
Our lower-risk investment strategy helps us protect your principal and return it to you in full so your money will be there when your child is ready for post-secondary school.
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Your student qualifies for school
Qualified students can study full-time at home or abroad. They can choose one continuous program, up to four short programs, switch programs or even transfer to another qualified school.
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We make payments
When your plan matures, we can return the principal to you right away or reinvest it so it keeps earning income.
As long as you make all your contributions and stay invested to maturity, we also return at least half your enrolment fee, paid in installments when we send education assistance payments to your student.
We make payments to your child from their first year of study – no waiting! Qualified students are eligible for up to four education assistance payments, one for each year of post-secondary school.
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