What is an RESP?
A Registered Education Savings Plan or RESP is a savings vehicle that allows parents, grandparents, friends and other relatives to save for your child or another beneficiary's post-secondary education. An RESP is a way to proactively save money towards your child’s education so that when they’re ready to study, you will be ready to help pay for it. RESPs have an additional feature that makes them unique from other registered accounts because they attract government grants for post-secondary education.
More FAQS
RESPS
- What is an RESP?
- What are the benefits of an RESP?
- Does my RESP require a lot of time to manage?
- What happens if I contribute to an RESP, but my child does not pursue post-secondary education?
- What are government grants and how do I take advantage of them?
General FAQS
- What is an RESP?
- What are the benefits of an RESP?
- What are Canadian Scholarship Trust Plans?
- Who can open a Canadian Scholarship Trust Plan?
- What is the minimum amount I need to open an RESP from CST?
- If I lose my job or miss a payment; will I lose all my money?
- What kind of service can I expect from CST?
- Does my RESP require a lot of time to manage?