RESP Calculator

Introduction

In our world, the value of a good education cannot be underestimated. The costs of post secondary education can place a serious financial burden on a family, especially if they have not properly planned for it. Today, the cost of tuition alone for one year of a general university program is approximately $5,000. Costs continue to rise.

In Canada, the best way to save for you child’s education is through a Registered Education Savings Plan (RESP). An RESP is like a savings account that grows tax-free until your child is ready to begin their post secondary education. Additionally, when your child goes to school and funds are withdrawn from the RESP, they are taxed in the hands of the student, usually at a very low rate. As an added benefit, the Government of Canada will also add to your savings in the form of a Canada Education Savings Grant (CESG).

An RESP can be started at anytime. So begin planning for your child's education now!

Use our RESP Calculator to help meet your savings goal.


Click here to begin using the RESP Calculator

Click here to find out more about how to use the RESP Calculator

Click here to find out more about the CESG